Picture source: Visual China
text | 21st Century Business Herald Jiang Shiqiang
On the evening of April 29, Tangde Film and Television (300426.SZ) disclosed its first quarter report for 2019.
According to the disclosure, Fan Bingbing reduced its holdings in Tangde Film and Television in the first quarter and is no longer among the top ten shareholders of the company. At the end of 2018, Fan Bingbing was still the eighth largest shareholder with a 1.61% stake.
Judging from the company's stock price, in the first quarter of this year, Tangde Film and Television's stock price rebounded slightly, with the stock prices in February and March both closing up monthly, with the increase in February reaching 29.14%.
htmlOn April 29, Tangde Film and Television closed at 7.06 yuan, closing down 9.83%, with a market value of 2.92 billion yuan.Tangde Film and Television has always attracted much attention from the market because of the influence of star shareholder Fan Bingbing, but "Fake and Fan Bingbing are both successful and defeat are both successful and Fan Bingbing."
Since Fan Bingbing was accused of tax evasion, Tangde Film and Television's stock price has fallen rapidly. Since the incident broke out at the end of May last year, it has fallen to a low of 6.56 yuan since the incident broke out at the end of May last year, and its market value has shrunk by 4.3 billion yuan.
In 2018, Fan Bingbing was involved in tax evasion due to the "yin and yang contract" incident and was ordered to pay taxes, late fees, and fined more than 800 million yuan on time.
As the investigation of the problem gradually deepened, the major earthquake in the film and television industry began.
According to previous reports, during the tax investigation last year, many celebrity studios were hit, and film and television listed companies were in a wave of decline in stock prices. After the tax evasion scandal broke out, " Ba Qing Zhi " starring Fan Bingbing had no hope of broadcasting. This drama is a major masterpiece prepared by Tangde Film and Television in 2018, and there is no further information yet.
's performance impact is also fatal. According to data from last year's annual report, Tangde Film and Television's net loss in 2018 was 927 million yuan; operating income decreased by 68.52% year-on-year. This is also the first loss since Tangde Film and Television went public.
Tangde Film and Television stated in its annual report that due to the social opinion incidents of the main actors, the TV series "The Legend of Ba Qing" invested in and produced by the company failed to be broadcast in 2018.
Although the company has never received a written notice from the competent authorities on restricting the broadcast of the drama, and the buyers have never made a written request to the company to change or cancel the contract, given the significant uncertainty of whether the drama can be broadcast, based on the principle of prudence, the company has individually set aside impairment losses for the accounts receivable confirmed by the drama. The above matters have caused the company's total profit to be reduced by about 500 million yuan.
In addition, due to the decline in industry prosperity, the production and sales progress of the film and television projects invested in and produced by the company was lower than expected, resulting in the negative net profit after deducting non-recurring gains and losses within the company's consolidated financial statements.
"The losses in 2018 will have a negative impact on the company's equity financing, issuance of corporate bond financing, and loan financing from banks, which may lead to the company's cash flow in 2019 continuing to remain tight." Tangde Film and Television said.
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