Huayi Brothers (300027.SZ)'s equity pledge continues.
On October 18, Huayi Brothers issued an announcement on the pledge and release of some shareholders' shares. The company's largest shareholder Wang Zhongjun pledged 15 million shares to Changan International Trust Co., Ltd. on October 16, for personal financing needs, and intended for project investment and equity investment; on October 18, Wang Zhongjun pledged another 3 million shares to CITIC Construction Investment Securities Co., Ltd. , for both personal financing needs, and intended for project investment and equity investment.
Image source: Huayi Brothers Announcement
The announcement on the same day revealed that on October 10 and October 18, Wang Zhongjun's three pledges in March 2018 were lifted in 77, totaling 21.49 million shares, accounting for 3.41% of his shares.
As of October 18, Wang Zhongjun held a total of 630 million shares of Huayi Brothers, accounting for 22.52% of the company's total share capital, and a total of 574 million shares were pledged, accounting for 20.52% of the company's total share capital. The pledge ratio reached 91.097%.
Another core figure of Huayi Brothers Wang Zhonglei pledged 18 million shares he held to Taizheng Financial Leasing Co., Ltd. on September 25. This pledge accounts for 10.72% of his shares, and the purpose is also "personal financing needs, and it is intended to be used for project investment and equity investment, etc.".
As of September 25, Wang Zhonglei held a total of 168 million shares of Huayi Brothers, accounting for 6.01% of the company's total share capital, and has been pledged a total of 167.38 million shares.
Wang Zhonglei's equity pledge rate has reached 99.67%. In the 2019 semi-annual report, Wang Zhonglei's equity pledge rate was 88.93%.
According to the announcement, as of October 18, Wang Zhongjun and Wang Zhonglei's cumulative pledged shares accounted for 92.90% of their total shares.
According to incomplete statistics from Interface News reporters, in the third quarter alone, Huayi Brothers issued 10 announcements on pledging and releasing some shareholders' shares.
On the other hand, Huayi Brothers' performance continues to decline. According to the company's performance forecast for the first three quarters of 2019 released, from January to September this year, Huayi Brothers is expected to lose 650 million yuan to 646 million yuan, and in the third quarter of 2019, a significant decline from the same period last year.
In the first half of 2019, Huayi Brothers' revenue was 1.077 billion yuan, a year-on-year decline of 49.26%, and its net profit was -379 million yuan, turning from profit to loss compared with the same period last year.
Regarding the performance losses, Huayi Brothers stated that during the reporting period, the company's release films include the interim movies "Yunnan Insect Valley", "Is it OK to return my brother?", " Grey Monkey ", etc. Among them, many films produced by the company participated in investment and jointly released in the third quarter. " Little Wish " directed by Tian Yuso was released on September 12, and the National Day tribute films "My Motherland and Me" and "Climber" were released on September 30.
According to Maoyan data, "Little Wish" has a cumulative box office of 267 million yuan, and "My Motherland and Me" has performed well in the box office, but Huayi Brothers only participated in the investment. The company announced in October August that as of October 7, "My Motherland and Me" was released for 8 days, with a cumulative box office of more than 2.219 billion yuan. Huayi Brothers' operating income range from the video is about 4.54 million yuan to 5.44 million yuan. The contribution to the company's performance is insignificant.
As of the first half of this year, Huayi Brothers' short-term loan balance reached 2.115 billion yuan, a significant increase of 1,000.21% from the end of the previous year, accounting for 11.88% of the total assets. Regarding the significant increase in short-term loans, the company stated that this was because the company arranged financing activities and added new bank loans. The company's long-term loan balance during the period was 1.546 billion yuan, an increase of 1.95% from the end of 2018, accounting for 8.68% of the total assets.
From the perspective of movie reserves, according to Huayi Brothers' 2019 semi-annual report, the company's next movies planned to release include " Eight Hundred ", " Sunshine Is Not a Robber ", and "Only Yun Knows". However, the specific release date has not been disclosed. If the company still cannot have hit movies in the fourth quarter, Huayi Brothers will suffer huge losses throughout 2019.
In terms of real-life entertainment, on October 17, the TV series " Antique Bureau's Treasures List " produced by Huayi Brothers and adapted from the novel of the same name by Ma Boyong, held a opening ceremony at Huayi Brothers (Jinan) Film City.
After the crew has finished shooting, the project will be converted from shooting scenes to tourist attractions after a simple transformation.Huayi Brothers said: Huayi Brothers (Jinan) Cinema City is expected to open next year, which is one of the important projects that Huayi Brothers Real-Scenic Entertainment will be deployed in 2020.
At present, Huayi Brothers' real scene entertainment includes Haikou Mission Hills·Huayi· Feng Xiaogang Film Commune , Huayi Brothers Film World ( Suzhou ), Huayi Brothers (Changsha) movie town and Jianye Huayi Brothers Film Town, etc. According to the company's data, Suzhou, Haikou, Changsha and Zhengzhou received nearly 500,000 tourists during the National Day holiday.
But can live entertainment save Huayi Brothers' current tight cash flow? It is not yet clear. In the first half of 2019, the operating income of Huayi Brothers brand authorization and real-life entertainment section was RMB 29.1835 million, down 79.43% from the same period last year
(Editor in charge: Zhao Jinbo)
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