Huayi Brothers’ revenue decreased by 30% in the first three quarters with a loss of 326 million

On the evening of 27th, Huayi Brothers released the third quarter performance report of 2020. According to the report, in the third quarter of 2020, the company achieved revenue of 783 million yuan, an increase of 45.02% year-on-year; the net loss attributable to shareholders of listed companies was 94.563 million yuan, and the net loss decreased by 65.35% year on year. In the first three quarters of 2020, the company realized a revenue of 1.107 billion yuan, a year-on-year decrease of 31.51%; the net loss attributable to shareholders of listed companies was 326 million yuan, with a year-on-year decrease of 50.03%. Huayi Brothers said that affected by the epidemic, cinemas across the country were closed from January 24 to July 20, and the film could not be shown. After the cinemas resumed business one after another, the film “eight hundred”, which was mainly invested and distributed by the company, was released in August. At present, the box office has exceeded 3 billion yuan. < p > < p > < p > Huayi Brothers said that the company’s war film “jingangchuan” was released on October 23, 2020, and Chang Yuan’s “warm embrace” was expected to be released in 2020, and the mobile game adapted film “Shi Shen Ling” (formerly known as “Yin Yang Shi”) would be released on an optional date. In addition, films such as “749 bureau”, “sunshine is not a robber” and “Mermaid 2” have already been released Enter the post production stage. < p > < p > in terms of TV drama business, during the reporting period, online dramas such as fireworks kitchen in the world, ink appreciation and porcelain search in the Central Bureau of antiques bureau have been launched on the video platform, and series such as rouge debt, war youth, and treasure list of bureau of antiques have been completed. < p > < p > according to the third quarter report, the company’s disposal of shares in Brothers International LLC confirmed the non recurring investment loss. As a result, the net loss attributable to shareholders of Listed Companies in the third quarter was 94.563 million yuan. < p > < p > in the risk tips for future operation, Huayi Brothers mentioned that there is income fluctuation risk in the shooting of the company’s commercial blockbuster: due to its high investment return, great market influence and mature operation mode, it has become the first choice of the company’s film business. Commercial blockbusters need a large amount of investment, and the production has been unable to improve rapidly, which hinders the steady increase of the company’s film business income. If the box office performance of a small number of commercial blockbusters invested is not good or the main revenue can not be recognized in the year due to the opening schedule and other reasons, it may cause fluctuations in the growth of the company’s film business income. < / P > < p > Disclaimer: the purpose of this article reprinted by finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.