The capital crisis of Huayi Brothers has a long history. In the past two years, Wang did his best, but it didn't get Huayi out of trouble. On the contrary, this situation will intensify until 2020.
In 2020, the whole entertainment market is not optimistic because of the epidemic situation, which is tantamount to adding insult to injury to Huayi Brothers.
What's more, after two consecutive years of losses, Huayi Brothers is now on the verge of delisting.
Under such circumstances, Wang, who once threatened that "everything can be sold for the safety of the company", began to sell houses after selling paintings last year, but it seems that it is not so easy to pull Huayi Brothers out of the quagmire.
How short is it for Huayi Brothers from selling paintings to selling houses?
Wang is a real rich man, but in the past two years, Huayi Brothers had a hard time.
On June 5th, some media discovered that Wang put the luxury home in Hong Kong on the market for sale at a price of HK$ 220 million. Although Wang He and Huayi Brothers did not explain the behavior of selling houses and the use of funds, according to industry analysis, the proceeds from selling houses will be used to supplement Huayi's book losses and liquidity shortage.
This is not the first time that Wang has sold his private property for "emergency".
Previously, at the Yabuli Forum Summer Summit in August, 2065438+2009, Wang revealed that he had been selling his paintings in order to get back some cash to solve the company's liquidity problem. "At an auction in Guardian, half of them were my paintings", "There is nothing wrong with selling my paintings", and frankly, "For the safety of the company,
Obviously, Huayi has reached a critical moment, and Wang is also anxious.
In the eyes of many people, Huayi Brothers' decline began with Wang's large amount of cash. ...
Back to 20 13, Huayi's stock was still very strong at that time. Wang cashed in more than 500 million yuan in three months. Huayi Brothers explained that the chairman was "caused by children's work, personal finance and new project investment".
In the face of the question of cash reduction, Wang responded confidently, "I want to live, too. My salary in the company is several hundred thousand. I am also a spender. I can't live without selling stocks. I don't have that much energy. Continue to work for shareholders. "
We have to sigh that Wang, who was "poor" and needed to cash out 500 million yuan in the stock market, bought a famous Van Gogh painting for 377 million yuan a year later, shocking the industry!
In the following two years, Wang spent 654.38+85 million yuan to shoot Picasso's famous painting "A Woman Sitting in a bun" and 207 million yuan to buy "Bureau Post". ...
Although Huayi Brothers is heavily in debt and needs to borrow money to continue living, it does not affect the wealth of military families in Zhong Wang.
However, from buying paintings to selling paintings, from crazy cashing to selling real estate for emergency, Huayi's situation can be imagined.
In order to save Huayi, Wang has tried everything.
The crisis of Huayi Brothers began with the Yin-Yang contract incident in 20 18. At that time, Huayi Brothers' handling method was still high-profile and full of confidence.
For example, it is rumored that "Chaoyang Taxation Bureau is stationed in Huayi Brothers to review the contract"; Dealing with Yin-Yang contracts: All contracts signed with actors are legal and compliant; Publish an open letter: Equity pledge is not selling stocks, nor is it the same as cashing out; Self-media prosecution (eventually losing); Release the super-strong film list, including 20 new films directed by Xu Ke, Guan Hu, Jia, Lu Chuan and other directors, and emphasize that "Mobile Phone 2" was successfully filmed and will be released on 20 19; The stock incentive plan has been launched, and it is planned to award 30 million shares to the incentive object, and the target of compound growth rate of 20% after deducting non-profit in 2065438+2008 -2020 is set.
However, since then, the situation has increasingly exceeded the expectations of Huayi Brothers, and the situation has become out of control.
On 20 19, 1, Huayi Brothers issued nine announcements in succession, pledging the future income of five companies, four houses, seven films and 25 cinemas, applying for short-term credit of 1 year from six banking institutions, and even moving out of Shi Yuzhu to provide joint liability guarantee.
Half a month after the "bankruptcy" pledge, Huayi Brothers eagerly turned to Ma Yun for help and borrowed 700 million yuan from Alibaba Pictures. This time, Huayi Brothers promised to release 10 movies within five years.
In the first quarter of 20 19, Huayi Brothers mortgaged almost all its assets and borrowed 5.296 billion yuan through various channels. Among them, 3 billion was quickly used to pay various short-term bonds.
In an interview program, Wang said that when the company was short of funds, friends gave generously, and the "creditor lineup" was almost all-stars in China business: Alibaba Ma Yun, Sina, Minsheng Bank, Giant Group Shi Yuzhu, Yunfeng Fund Yu Feng, Lenovo Liu Chuanzhi. ...
From 2065438 to February 2009, Wang admitted the difficulties faced by Huayi and comprehensively reflected on the mistakes made by Huayi, including "insufficient execution", "profligacy" and "employees throwing pots at each other".
Not long ago, on April 28th, Huayi Brothers just announced a fixed increase in "blood supplement" and issued a plan for non-public offering of A shares, saying that the total amount of non-public offering of 2.78 yuan per share should not exceed 824 million shares, and the total amount of funds raised should not exceed 2.29 billion yuan, which will be used to supplement working capital and repay loans after deducting the issuance expenses.
Everything that should be pledged has been pledged, and the money that can be borrowed has changed. The king had to sell his private property.
Dilemma: the left hand loses money, the right hand borrows money, and there is no performance in the middle.
In the past two years, Huayi's film status has completely fallen.
In 20 18, Huayi produced Four Heavenly Kings in Renjie, Looking for You, Fatso Action Team, Yunnan Worm Valley, Jianghu Children, Nice to meet you, and participated in the Japanese movie Thief's Home and the American movie Hurricane Robbery. Unfortunately, it didn't win an explosion.
Even The Four Heavenly Kings of Di Renjie, which was originally expected to have a box office of 654.38+0 billion, ended up with a box office of 606 million, which was far from what was expected.
Huayi's decline has also continued to 20 19. In 20 19, huayi brothers suffered 800 wishes to quit, and there was no news of their mobile phones for 2 years. Only Yun knows that the best director at the box office of that year earned only 65,438+56 million yuan.
In 20 19, the net profit of huayi brothers returned to their mother was about-4 billion yuan, and the loss situation in the first quarter of this year has not improved, with a continuous loss of about10.50 billion yuan. Counting 20 18, this is the second consecutive year that Huayi Brothers has suffered serious losses.
The situation will be even worse in 2020. The entertainment circle completely stopped in the first half of the year. Whether Huayi Brothers can turn losses into profits in the second half of the year directly determines whether the company will face the risk of delisting.
Therefore, whether Huayi can survive this year is the key to survive in the highly competitive market. Whether Huayi can turn around against the wind depends on whether the 800 "Mobile Phone 2" can be released smoothly.
Compared with the bleak film business, Huayi Brothers is expanding in other areas, such as investing in games, operating IP, live entertainment, cinema construction and internet entertainment.
After years of hard work, Huayi has finally become less like a film company, but more like an entertainment group that looks bloated before it grows up. It has a little business. Although now he wants to clean up the old mountains and rivers by binding several directors, young talents are not available, and betting on Xiaogang Feng and Guan Hu is more like a gamble.
Fortunately, although the cards are getting worse and worse, as long as you don't leave the gambling table, there is still a chance to turn over.