Contemporary Oriental has been applied for bankruptcy review and has invested in the production of "Military Division Alliance" and other explosive dramas

Cover Journalist Zhu Zhu

Tianyan Check APP shows that on August 9, Film and Television Company Contemporary Oriental Investment Co., Ltd. was applied for bankruptcy review, and the total amount of the company's execution has exceeded 390 million yuan.

Not long ago, contemporary Oriental stocks were just delisted by the Shenzhen Stock Exchange. In 2021, the financial report was issued a new delisting regulation because of the "unable to express their opinions" and became the fourth -market film and television media company in the past five years.

The company's total amount has exceeded 390 million yuan.

After touching the new regulations after delisting

Contemporary Oriental is applied for bankruptcy review

On July 4th, after a period of delisting in 15 trading days, the contemporary Oriental stocks of film and television companies were delisted by the Shenzhen Stock Exchange and ended for many years of listing.

One month later, Tianyan Chechen App showed that contemporary Oriental Investment Co., Ltd. added a new bankruptcy review case. The reporter checked the information and found that bankruptcy review cases refer to whether the company that applied for bankruptcy was qualified for bankruptcy, and the bankruptcy application was a condition for the start of bankruptcy procedure.

Earlier, because the net assets at the end of the audit period of contemporary Oriental in 2020 were negative, the company was issued a warning of delisting risk. The audit report touched the situation of the termination of stocks under the new delisting regulations, so the contemporary Oriental was ordered by the Shenzhen Stock Exchange to delist.

Although the company had submitted a review application to the Shenzhen Stock Exchange before that, it was "unconvinced", but it could not recover the situation. Therefore, the contemporary Oriental has become the fourth media company in the past five years, and the top three are Great Wall Film and Television, India Media and LeTV.

Contemporary Oriental Investment Co., Ltd. was applied for bankruptcy censorship.

Once a "film and television dark horse"

Acting Wang Lihong's concert to cancel the contract midway

Public information shows that the predecessor of the contemporary Oriental was "cement manufacturer" Datong Cement. The company was listed on the Shenzhen Stock Exchange in 1997 and was acquired by Xiamen Contemporary Holdings for 64.745 million yuan.

On February 4, 2013, Datong Cement was officially renamed contemporary Oriental, and determined the main development direction of film and television media. But it wasn't until the acquisition alliance of Weili Television Company that the contemporary Oriental first stepped into the entertainment industry for the first time.

Contemporary Oriental Stocks were delisted by the Shenzhen Stock Exchange.

Since then, the contemporary Oriental has been known as the "film and television dark horse". The market value was close to 20 billion yuan. The launch of the "Military Division Alliance" and "Beijing Meet Seattle 2" and "Blood Chang'an" have become explosive models. In 2017, the contemporary Oriental also represented Wang Lihong's concert, but helplessly terminated the contract with Wang Lihong in advance due to the company's losses.

According to the 2021 annual report of contemporary Oriental, from 2018 to 2020, the company's net profit after deducting non-deductibles lost a significant loss, with a total loss of about 2 billion yuan in three years. Contemporary Oriental tried to sell theater assets and subsidiaries to rescue themselves.

However, self -rescue failed to reverse the trend. The contemporary Oriental did not create a dazzling film and television drama product, and it was also caught in lawsuits lawsuits and debt quagmires. Data from Tianyan Check shows that the current total execution of contemporary Oriental has exceeded 390 million yuan, including more than 300 self -risks such as legal lawsuits and administrative penalties.

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