This article comes from the WeChat public account: Entertainment Capital Theory (ID: yulezibenlun) , author: Liujing Mu, produced the title picture shows Beijing to participate in cultural work, “wolf 2” screenshot.
The story of the financial report has not been finished yet. As mentioned yesterday, to obtain a company with good fundamentals, you need to appropriately shrink your business and ensure stable cash flow; focus on project quality and policy direction to reduce bad debts; know how to stop losses in a timely manner, and the business encounters serious operating problems rudder.
Several companies that I want to talk about today stepped on these “pits”. Tang De Film and TV, which has been affected by “Ba Qing Zhuan” to this day, Ciwen Media, which has caused huge losses due to the poor operation of the game business subsidiary, and Beijing culture, which has performed like a roller coaster. They have either shed their shadows and moved forward steadily, or are still in the game yet to get out.
In addition, apart from film and TV drama companies, we are more concerned about the survival of cinema companies after the epidemic.
In the first quarter report of 2020, the net profit of five listed cinema companies decreased several times compared with last year. For example, Happiness Blue Ocean had a net profit loss of 101 million in the first quarter, a year-on-year decline of 870.78%; Jinyi Film & TV lost 153 million, a year-on-year decline of 573.94%. Compared with other film and television companies, although most of them are losing money, the damage of cinema companies is the most serious.
(net profit, revenue unit: Yuan)
However, judging from the 2019 financial report, the overall performance of the theater company in the past year is still very stable, with sufficient cash flow. Although it was severely damaged in the first quarter, it can still be carried out in the short term by shrinking business and reducing costs.
On May 8th, the State Council released a message that theaters can be opened for business through appointments and current restrictions. The movie market can finally see signs of recovery.
Everything will bloom in spring, even if it is a little late.
Large landslide of cinema line, 2019 profit 2020 huge loss
In fact, the film market in 2019 is generally good. According to data from the National Film Administration, the total box office of Chinese films in 2019 was 64.266 billion yuan, an increase of 5.4% year-on-year, and the total box office reached a record high. In addition, during the year, 1,453 theaters were added nationwide, an increase of 13.26%.
Due to the market, movie theater companies are also very moist. Except for Wanda Movies which suffered a loss of 4.7 billion, the four companies that accounted for a relatively large amount of cinema-line business, such as Jinyi Film and Television, Hengdian Film and Television, Happiness Blue Ocean and Shanghai Film, all made profits. Among them, the net profit of Happiness Blue Ocean increased by 101.24% year-on-year, the fastest growth among cinema companies; Hengdian Film and Television had the highest net profit of 309 million.
