The film and television industry accelerates recovery Tencent to make a new choice of investment: reduce the holding of Huayi brothers to hold the position of Bona Films

China Times (chinatimes.net.cn) reporter Yu Yujin Beijing reported

"Early early, I caught a late collection. If I knew that the GEM was opened, I would not go to the United States." Yu Dong, chairman of Bona Film, said on many occasions.

As two head film and television companies, Bona Films went public in the United States. Huayi Brothers (300027.SZ) was listed on the GEM. After 5 years of listing, the Chinese film market share of the two companies is comparable, but Huayi The market value of the brothers exceeded 80 billion yuan, and the market value of Bona Pictures in the United States was about 3 billion yuan. Since then, Bona Films has started the privatization back to A. Ten years of Hedong and ten years of Hexi, now the Huayi brothers have lost 4 years and have been reduced by Tencent, while Bona Films is coming to the market. The latest prospectus disclosed shows that Tencent is the 6th largest in Bona Films. Shareholders, holding a shareholding ratio of 4.84%.

Tencent's reduction of Huayi Brothers, Zhu Zhu, chief analyst of Huaxin Securities Media, analyzed the reporter of Huaxia Times, "Tencent's increase or decrease is also based on multiple choices. There are still holdings in Bona Pictures. "

Tencent reduced holdings of Huayi brothers

On the evening of August 5th, Huayi Brothers issued an announcement that Tencent, the second largest shareholder Tencent from August 2 to August 4, 2022, through the transaction method and participation in the transaction of the transfer of the shareholding securities, which caused the shareholding ratio to change exceeded 1%, holding the holding of the shareholding ratio. The proportion of shares dropped from 7.942441%to 4.999997%. After the completion of the holding of holdings, Tencent also held 13872.5 billion shares of Huayi brothers.

According to the announcement, Tencent is no longer a shareholder of Huayi Brothers more than 5%of the Huayi Brothers after this change. The changes in this rights and interests will not lead to changes in the company's controlling shareholder and actual controller.

As early as 2011, Tencent and Huayi Brothers had interspersed. In May 2011, Tencent spent 445 million yuan to buy 27.8 million Huayi brothers at a price of 16 yuan/share. In November 2014, Huayi Brothers disclosed that Tencent once again subscribed for 51.55 million Huayi brothers at a price of 24.83 yuan/share, spent 1.28 billion yuan. After the completion of the acquisition in 2015, Tencent held more than 8.06%of Huayi Brothers, and was the second largest shareholder of Huayi Brothers.

Tencent Jiacang Huayi Brothers is in the rapid development of the film industry. At that time, many industry leaders hoped to share a share in the film and television industry, but with the adjustment of the film and television industry and the impact of the epidemic, the company faced the impact, and the capital was retreating.

The turning point of the Huayi brothers In 2018, the cumulative loss of Huayi brothers in the past four years reached 6.441 billion yuan.

"From entrepreneurship to listing, to 2017 and 2018, they are quite smooth. The real turning point is the" Mobile Phone "incident." Wang Zhongjun, the chairman of Huayi Brothers, pointed out publicly. In the bleak box office in 2018 and 2019, the Huayi brothers had a net loss of 1.169 billion yuan and 3.978 billion yuan, respectively. In 2020, although there are representative works "Bai Bai", the Huayi brothers still have a net loss of more than 1.048 billion yuan. In 2021, the net profit of Huayi Brothers was -246 million yuan, an increase of 76.50%over the same period last year.

Regarding the losses in succession, Internet analyst Zhang Shule said in an interview with the reporter of Huaxia Times, "After Huayi was listed, he chose to expand the pond. , But it is excessive betting on the physical attractions of film and television and film and television related entities. In the lack of explosive models and physical attractions, they have not reached their imagination revenue, which makes these 'expansion projects' in the film and television industry in the cold winter. heavy burden."

With the dual adverse effects of the demand and supply end of the film and television industry, the first quarter report of the Huayi brothers this year is not good. Its net profit attributable to shareholders of listed companies in the first quarter of 2022 was -132 million yuan.

In addition to the bad performance, Wang Zhongjun and Wang Zhonglei of the Huayi Brothers and Wang Zhonglei were also criticized by the Shenzhen Stock Exchange for illegal reduction in December 2021. In addition, China's implementation information disclosure network recently added a newly added person's information. The date of file filing is April 24, 2022. The case number is "(2022) Beijing 03 Executive 609". Tianjin) Investment Co., Ltd., Wang Zhongjun, Wang Zhonglei, Wang Xiaorong, and Liu Xiaomei, they performed about 185 million yuan.

Regarding whether the company has new adjustments in business, the company's loss or even the planning of the company, the reporter of the Huaxia Times interviewed the Huayi Brothers, and did not reply as of press time.

Some high -level people in the entertainment industry have previously said in an interview with the China Times reporter that "the entertainment industry is currently not recognized by capital. It is obvious. Under the impact of the epidemic and the supervision of the policy on the entertainment industry, the capital attitude towards the entertainment industry is more negative. ","

Holding Bona

As Tencent reduced the Huayi brothers, Bona Films was still favored by Tencent. According to the latest prospectus released by Bona Pictures, Tencent's Lyingzhi Tencent Technology Co., Ltd. holds 4.84%, which is the 6th largest shareholder of Bona Pictures.

In the past few years, Bona Films at the helm of Dongzhong has become the "main theme explosion harvester". From the original "Mountains and River Trilogy" series to the "China Pride Trilogy" since then. The main theme of the melody also made Bona Film's benefit. The "Shanhe and Sea Trilogy" achieved a total of 5.72 billion yuan in box office revenue. The "Chinese Pride Trilogy" achieved a total of 4.743 billion yuan in box office revenue. The above two series of films have achieved a double harvest of box office and word -of -mouth. From 2017 to 2019, the net profit attributable to shareholders of the parent company was 199 million yuan, 264 million yuan, and 315 million yuan, respectively.

At the 24th Shanghai International Film Festival, Bona Films announced the launch of the "China Victory Trilogy" to offer a century -old party.

Among them, the box office of "Chinese Doctor" was 1.328 billion yuan, and the box office of "Changjin Lake" became the first box office of Chinese film history for 5.775 billion yuan, and "Anonymous" has already been killed and waiting to be released.

This year's Spring Festival, "The Water Gate Bridge of Changjin Lake" led again for 4.066 billion yuan. In the first half of 2020, 2021 and the first half of this year, Bona Film's revenue was 1.610 billion yuan, 3.124 billion yuan, and 1.473 billion yuan, respectively; net profit was 191 million yuan, 363 million yuan, and 236 million yuan, respectively.

The main theme film of the owner of Bona shadow occupies an important position in the Chinese film market. At present, of the top 10 in the history of Chinese box office, the 3 films produced by Bona Films are listed, namely "Changjin Lake", "Water Gate Bridge of Changjin Lake" and "Red Sea Action", with the box office of 5.775 billion respectively Yuan, 4.066 billion yuan and 3.652 billion yuan.

Today, Bona Films is as soon as the listing of Ningmeng Films is expected to be listed on August 10th. Back to warm. It is worth noting that Tencent's shareholding of 19.78%of the shares of Lemon Mengmeng is its largest institutional shareholder.

With the listing of film and television companies, the market believes that Tencent will also get considerable returns in the listing of film and television companies.

Zhu Zhu analyzed, "In the film and television industry, the content items are turned on, filmed, and the downstream theater were broadcast. They were all affected by the epidemic, and the influence gradually appeared in performance. Recovery, from the start of the project, the box office of the summer vacation, and the listing of Bona, are all subsequent development of the development of the sector. The epidemic is an uncontrollable event. The core is the user's needs for high -quality content. Under the unchanged demand, the test is the supply of enterprises, sustainable and high -quality supply, and the industry is surviving the fittest. "

Editor -in -chief: Editor -in -chief Huang Xingli: Han Feng

- END -