Film And Television Listed Companies "Save Themselves": Selling Houses, Issuing New Shares, Changing The Content To Be King Or Changing The Channel Online.

"Summer is coming, winter is not over yet." Some people describe the current film and television industry.

In June 10th, Bona Film Group official released a message of deep sorrow. Huang Wei, vice president and senior filmmaker of Bona film, died in the early hours of June 10th, aged 52.

Although it is unclear whether this is related to the industry situation, this news has aroused people's feeling that the theater has been suspended for a long time.

"The cinema should be resumed and resumed." In June 10th, director Jia Zhangke made a voice through micro-blog. "The two level emergency response of Beijing's major public health emergencies has been reduced to three, and most of the industry's formats have been opened. Some movie companies lose 1 million daily, and 1 million movie practitioners need to survive.

From the film and television industry listed companies, the epidemic led to the theater stopped, the first quarter results of collective losses, cash flow pressure, the two quarter performance is not optimistic.

In the face of difficulties, large shareholders selling property and listed companies through the issuance of additional funds, issuing bonds, and so on, become the means of self-help. With the long-term suspension of cinema, the ecology of film and television industry is changing.

Self rescue

In June 5th, according to media reports, Wang Zhongjun, chairman of Huayi Brothers (300027.SZ), sold his mid high hill rich court in Hongkong at HK $220 million.

Although it is not clear whether this is a blood transfusion to a listed company, the brilliant Huayi Brothers have been losing money for two consecutive years, but it is an indisputable fact.

In 2018, the first loss of Huayi Brothers was 1 billion 93 million yuan, down 231.97% compared with the same period last year. In 2019, Huayi Brothers lost 3 billion 960 million yuan, net profit fell 262.32% year-on-year, and net cash flow from operating activities was 90 million 356 thousand yuan, down 84.48% from the same period last year. Affected by the epidemic, a quarterly report shows that Huayi Brothers continued to lose 143 million yuan in the first quarter.

According to the relevant provisions, if three consecutive years of losses, the GEM listed companies will be directly delisted. This means that if we can not turn a profit this year, we will be waiting for Huayi Brothers to withdraw from the market.

The epidemic has added to the plight of the entire film and television industry. It is undoubtedly the top priority of Huayi Brothers to rescue the companies that are in danger.

In addition to selling the house, Huayi Brothers tried to ease the pressure of cash flow by adding blood to star wars.

Previously, it issued a preplan for non-public offering of A shares. The total amount of non-public offering of 2.78 yuan / share is no more than 824 million shares, and the total amount of raised funds is not more than 2 billion 290 million yuan. After deducting the issuance cost, it will be used to supplement the working capital and repay the loan. The war throws include Ali pictures, Tencent, Sun Life Insurance, Xiangshan Dacheng world, and Fosun department's listed companies, Yu Garden shares, name Hertz group, Xintai life insurance, three Li Jing Kong and Shandong Jing Da nine companies.

In fact, the cash flow of film and television industry is becoming more and more serious under the outbreak.

In addition to Huayi Brothers, Wanda movies, jintin shares and contemporary Oriental film and television companies have also issued refinancing plans, which aim to repay bank loans and supplement current funds.

In addition, "Yi Zhu" has become one of the options, for example, the film and TV company "sell" Zhejiang radio and television.

In 2019, Tang Tak film and television lost 107 million yuan. In the first quarter of this year, the company continued to lose 26 million 934 thousand and 800 yuan due to the epidemic.

The "easy advocate" announcement disclosed that the transfer of shares of Tang Tak film and television is conducive to giving full play to the advantages of the integration mechanism of state capital and private capital. The two sides agreed to actively promote the introduction of strategic investors, and Dongyang financial and Dongyang Ju Wen agreed to assist Tang Tak TV not only less than 200 million yuan in financing, but also to promote the quality assets that can enhance the core competitiveness of the company in accordance with the regulations.

As a matter of fact, state assets become an important force in the capital to help film companies.

Twenty-first Century economic report combing found that this year, A shares have 3 film companies "allied" state assets. Besides the film and television in Tangde, there are Huayi Brothers and Beijing culture.

At the end of April, when the Huayi Brothers announced the proposed increase of 2 billion 290 million yuan, the Shandong provincial Jing Da Technology Development Co., Ltd., the national capital war, also appeared in the list. Prior to February, the Beijing municipal liberal arts Investment Advisory Company Limited under the state owned capital announced that it became the largest shareholder of Beijing culture.

Ecological change

Since January 24th, the theater has been closed for more than 100 days, making the production, distribution and projection links of the film and television industry chain suffering.

"The most direct pressure is the theater itself. They have substantial maintenance, regardless of rent or other fixed costs. The pressure of the upstream producers is also great. They have not started yet. Some projects are also costly after setting up the project. Besides, they do not know when they will be screened. The middle part of the distribution is basically no rice cooker. The upper, middle and lower reaches have a great impact. " Wei Pengju, Dean of the Institute of culture and economics of Central University of Finance and Economics, said.

A quarterly report shows that the theater's suspension has brought heavy losses to the listed companies. Wanda film lost 600 million yuan in the first quarter, down 249.75% from the same period last year. In addition, Jinyi film, Huayi Brothers, happy blue sea, including a number of family line listed companies in the first quarter of this year there was a substantial loss.

At the same time, industry clearing is already in progress.

In May 27th, the China Film Association released the Research Report on the survival condition of the cinema. The report shows that the total box office in the first quarter of this year was 2 billion 238 million yuan, down 88% from last year. Of the 187 theaters interviewed, up to 42% of the theaters thought they had the risk of being "shut down".

The most recent Guan Jian restart is not yet finalized.

However, after such a long shutdown, can film and television industry recover to pre epidemic level? How will the film and television industry respond?

In this regard, Wei Pengju believes that people's consumption intention is there, but in the short term may be facing the pressure of quality content supply. The contents of some of the earlier films have been released on the Internet, which means losses for the theaters. At present, the resumption of viewing is not yet clear. For some blockbusters, it is not a good time to launch.

In addition, the impact of the epidemic on people's consumption of film may be insufficient. "It is suggested that theaters can carry out diversified operation adjustments, such as increasing the number of movies, playing old movies, opening small packages, adopting a low price strategy," price changing volume "and so on, and also trying to make some integration through the offline space of the cinema and the live broadcast of the electricity supplier. Wei Pengju said.

The epidemic also makes the industry more aware of the ecological changes.

"The film industry will become more and more" not pure ". In traditional sense, the movie is the art of big screen projection. But then the content of the movie may be based on the standards of the big screen, but it will be more and more moving online. If the cinema wants to survive, it may become more and more diversified, and layout in some non movie formats. Wei Pengju said.

"Light capitalization of the entire cultural industry should be a general direction and trend. To do cultural industry, we should still do the content. The content is always a core. And the epidemic also shows that the content is relatively self-adjusting. In essence, what we need is not the cinema, but the content provided in the cinema. " Wei Pengju said.

?