With a debt of 8.2 billion, new films have been withdrawn one after another, relying on mortgage equipment financing, where is the way out for Huayi Brothers?

2020-07-31 14:15:07 0 Comment 2688 views
abstract

But the domestic first-line film company, Huayi Brothers, has fallen into the biggest dilemma in history. It even depends on mortgage equipment for fi

The movie summer break will begin soon. But the domestic first-line film company, Huayi Brothers, has fallen into the biggest dilemma in history.

Not only the two works originally scheduled to be released in July, but also "Eight Hundred" and "Little Wish" have been withdrawn and shifted.

Even, financing must be financed by mortgage equipment.

On the evening of July 3, Huayi Brothers issued an announcement that the company will carry out sale and leaseback financial leasing business for the projection equipment and auxiliary equipment and facilities of its 4 cinemas, with a financing amount of 40 million yuan. Mr. and Mrs. Wang Zhongjun and Mr. Wang Zhonglei provided joint liability guarantee for the sale and leaseback financial leasing business.

With a debt of 8.2 billion, new films have been withdrawn one after another, relying on mortgage equipment financing, where is the way out for Huayi Brothers?

Debt of 8.2 billion in the first quarter

As early as May this year , Huayi Brothers’ tight financial situation has already attracted the attention of regulators. On May 31, the Shenzhen Stock Exchange issued an annual report inquiry letter to Huayi Brothers to question its solvency. This is the second time the Shenzhen Stock Exchange has been in the first half of the year. An inquiry letter has been issued to Huayi Brothers.

According to the data of Huayi Brothers' first quarter 2019 annual report, Huayi Brothers currently has a total debt of more than 8.2 billion yuan.

With a debt of 8.2 billion, new films have been withdrawn one after another, relying on mortgage equipment financing, where is the way out for Huayi Brothers?

However, Huayi Brothers currently only has more than 1.3 billion yuan in cash.

With a debt of 8.2 billion, new films have been withdrawn one after another, relying on mortgage equipment financing, where is the way out for Huayi Brothers?

Also, as early as January this year, in order to pay off the 2.2 billion yuan mid-term bond "16 Huayi MTN001" , Huayi Brothers has pledged a number of company equity, real estate, 7 film box office proceeds and 10 wholly-owned film management companies in the next 5 years box office revenue. The ability to use film box office as collateral is also the industry’s first. /p>

And the 700 million yuan short-term bond "18 Huayi Brothers CP001" that expired at about the same time also borrowed 700 million yuan from Alibaba before repaying it in time.

In addition, there are not many available-for-sale financial assets and long-term equity investments of Huayi Brothers. Among them, available-for-sale financial assets are 2.132 billion yuan, and the balance of long-term equity investment is 51.08 billion yuan.

If all these belongings are really taken out to repay debts, Huayi Brothers will be "smashing the pot and selling iron", and there will be no need to "start cooking" in the future.

In fact, in April of this year, in order to preserve the capital chain, Huayi has already transferred the equity income rights of the 20.17% shares of Hero Mutual Entertainment to Zhongtai Trust at a price of 1 billion yuan, and agreed to one year Repurchase afterwards.

Will Huayi find a way out in the second half of the year?

In the winter of capital, everyone’s money bags are tightly covered. Moreover, the film and television industry is no longer there. That kind of enthusiasm a few years ago. Nowadays, it is almost impossible for Huayi Brothers to obtain financing from outside.

In the first half of this year, the only film released by Huayi was a Thai-introduced film "Can I Return Brother?" ", the box office only received 1.75 million yuan, tentatively scheduled for the second half of the yearThe layout of the film is as follows:

With a debt of 8.2 billion, new films have been withdrawn one after another, relying on mortgage equipment financing, where is the way out for Huayi Brothers?

Among them, it is more likely to get good box office income At present, there are only "Yai Bai" directed by Guan Hu and "Little Wish" directed by Tian Hanyu, but it is possible that the box office revenue of these two films has been mortgaged by Huayi.

In the second half of the year, Huayi Brothers wants to stand up, I am afraid it will be very difficult.

Interestingly, follow HuayiFeng Xiaogang and Zheng Kai are among the brothers who are "in debt" together.

In the Huayi Brothers 2018 annual report, the names of Feng Xiaogang and Zheng Kai appeared impressively.

With a debt of 8.2 billion, new films have been withdrawn one after another, relying on mortgage equipment financing, where is the way out for Huayi Brothers?

Because the performance is not up to the standard, Feng Xiaogang and Zheng Kai need to contact Hua Brothers of Yi repaid 68.21 million yuan and 19.63 million yuan in performance compensation, of which Feng Xiaogang’s arrears were collected in April this yearBack, and Zheng Kai has not repaid yet.

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