According to the data, in the first three quarters of this year, Songcheng performing arts achieved operating revenue of 619 million yuan, a year-on-year decrease of 71.96%; the net profit attributable to shareholders of listed companies was 134 million yuan, down 89.47%; the basic earnings per share was 0.0512 yuan, a year-on-year decrease of 94.14%. < p > < p > among them, in the third quarter, the operating income of Songcheng performing arts reached 336 million yuan, a year-on-year decrease of 57.45%; the net profit attributable to shareholders of listed companies was 93.9035 million yuan, a year-on-year decrease of 80.64%. During the reporting period, the operating revenue, operating costs, taxes and surcharges, and sales expenses of Songcheng performing arts decreased by 71.96%, 63.55%, 72.35% and 64.85% respectively. Novel coronavirus pneumonia explained that the three main quarters were six rooms that no longer included in the merger of the company. And the impact of the new crown pneumonia epidemic was caused by the closure of the scenic spots of the company from January 24th to June 11. According to public information, Songcheng performing arts was established in September 1994. Its main business is investment, development and management of theme parks and cultural performances. On site performance is the core business and the main source of income and profit. The projects that have been opened include eternal love of song city, eternal love of Sanya, eternal love of Lijiang, eternal love of Jiuzhai, eternal love of Guilin and eternal love of Zhangjiajie 》”Xi’an eternal love” and so on. < p > < p > in the fourth quarter, when answering questions from investors on the interactive platform of Shenzhen Stock Exchange, Songcheng performing arts said that during the golden week of the 11th National Day, there were 301 performances of “eternal love”, with a year-on-year increase of 11.48%; the total number of tourists received by its scenic spots recovered by 91.54% year-on-year, and the revenue was equal to that of the same period last year, realizing a good recovery. In terms of ownership structure, as of the end of the reporting period, there were 45275 shareholders of Songcheng performing arts. Song Lingcheng is the controlling shareholder of Hangzhou Qiaocheng Co., Ltd. Huang Qiaoling is the chairman of Songcheng performing arts. He is the chief director, chief planner and art director of the series of “eternal love”. < p > < p > during the reporting period, Huang Qiaoling reduced 52 million shares of Songcheng performing arts, with a reduction ratio of 1.99%. By the end of the reporting period, Huang Qiaoling held 13.06% of the shares of Songcheng performing arts; Hong Kong Central Clearing Co., Ltd. (i.e., Lu Gutong) reduced its shareholding of about 25876300 shares, with the latest shareholding ratio of 2.18% as of the end of the reporting period. < p > < p > in March 2015, Songcheng performing arts acquired 100% equity of six houses to enter the internet entertainment industry, with a transaction price of 2.6 billion yuan and a premium of 68 times, resulting in a goodwill of up to 2.370 billion yuan. < p > < p > on June 27, 2018, Songcheng performing arts announced that six rooms were reorganized with MI Jing Hefeng (the main body of pepper live broadcasting operation), of which six rooms were priced at 3.4 billion yuan, and the overall value of secret environment and wind was 5.1 billion yuan. The valuation of the new company established after the reorganization was no less than 8.5 billion yuan. After the reorganization, Liu Yan, the founder of liujianfang, became the CEO of the new company; Songcheng performing arts transferred 10% of the shares of the new company, and liujianfang was no longer a consolidated subsidiary of Songcheng performing arts. < / P > < p > according to the new company’s most undervalued value of 8.5 billion yuan, Songcheng performing arts will obtain at least 850 million yuan of income if it transfers 10% equity. In addition, six houses were purchased by 2.6 billion yuan and restructured by 3.4 billion yuan, with a premium of 800 million yuan. According to the announcement of song Cheng performing arts, this transaction may increase the profit of 2018 statements by more than 500 million yuan. That is to say, after the reorganization and presentation of the six rooms, Songcheng performing arts not only eliminated the risk of goodwill impairment of 2.370 billion yuan, but also increased the cash flow of billions of yuan. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com 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.