In the first three quarters, the total loss of Jiakai city was more than 1 billion yuan

On the evening of October 25, Jiakai city released the third quarter report of 2020, which further expanded the loss caused by the epidemic. Data show that Jiakai city achieved revenue of 330 million yuan in the third quarter, a year-on-year decrease of 35.5%; net profit loss of 389 million yuan, a year-on-year decrease of 524.5%. Under the influence of the decrease in revenue, the cash flow of Jiakai city also decreased by 81.3% year-on-year, and the net cash flow in the first three quarters was – 196 million yuan. < / P > < p > from a loss of 320 million yuan in the first quarter, to 620 million yuan in the half year, and then to 1.01 billion yuan in the first three quarters, Jiakai city’s operation became more and more difficult, and the reasons for the changes in revenue in the three reporting periods were all caused by the epidemic. It is said that the impact of the epidemic on the film market is far-reaching, and Jiakai City, which takes cinemas as its second major business, has not been able to break away from the heavy damage of the epidemic in the third quarter. In novel coronavirus pneumonia, the company’s revenue in the three quarter has dropped dramatically, and sales of real estate sales have declined, compared with the previous year. However, the recovery of hospital line business can only be seen in the fourth quarter. Jiakai city said that the company immediately promoted the resumption of work and new opening of all cinemas after the state started the resumption of work. As of October 8, 134 studios had completed the resumption of work, with a return rate of 100%. < / P > < p > in order to solve the problem of horizontal competition with its parent company, China Evergrande, Jiakai city has been continuously stripping off the stock of real estate and continuously promoting the cinema line. Since this year, Jiakai city has acquired 100% equity of Beijing Star Times Cinema Investment Co., Ltd. and Aimei (Beijing) cinema Investment Co., Ltd., thus entering the cinema industry. During this period, Jiakai city continued to expand the scale of its cinema business through leasing venues, self-management and M & A. at present, it has 839 screens in 115 cities across the country. < / P > < p > from the perspective of business contribution, this second major business is gradually showing the trend of “Replacing” the real estate business. At the end of 2018, the film and television projection business revenue was only 4% of the house sales business income, and this proportion rapidly jumped to 76% in the middle of 2019. At the end of 2019, the film and television projection business surpassed the housing sales business slightly and became the business with the largest proportion of revenue last year. In just one year, revenue has increased 20 times. However, affected by the epidemic situation, the film and television projection business revenue fell back to 9% of the housing sales business, and the housing sales business revenue itself has been significantly shrinking year by year. However, Jiakai city still adheres to the second major business of deep ploughing in spite of the heavy injury. Since the middle of October, jiakaicheng cinema company has recruited management and training students in Colleges and universities across the country to supplement the management talents of the national cinema system. In addition to absorbing talents, Jiakai city also extends its business to the upstream. On October 22, Jiakai city and Ali film reached a cooperation, covering film investment, film distribution, film ticketing and other aspects, becoming part of Ali film’s implementation of “quality content + new infrastructure” dual drive strategy. As for the cooperation, Jiakai city also said that it hopes to help the company’s overall layout in the film performance industry, open up the upstream and downstream industry chain, and create more diversified business scenarios. < / P > < p > after the impact of the epidemic gradually subsided, whether the second main business of Jiakai city can pull it out of the loss mire again depends on the performance of the last quarter. < p > < p > the purpose of this article reprinted by China net finance and economics is to convey more information, which 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.