Large contracts are implemented, but the funds do not seem to buy it very much. Not only that, but also attracted the attention of the Shenzhen Stock Exchange. On February 15, Shenzhen stock exchange sent a letter of concern to Beijing Jetsen Technology Co.Ltd(300182) , asking Beijing Jetsen Technology Co.Ltd(300182) to further explain whether the network communication right granted by Sun company is exclusive and exclusive, as well as the remaining reserves of the company’s film and television programs.
“Last Friday (February 11), we received the contract sealed by Tencent. The contract agreed to pay in installments. At present, there is no capital income or deposit agreement.”. On February 14, the reporter of Securities Daily called Beijing Jetsen Technology Co.Ltd(300182) investor hotline as an investor to inquire about the contract and order between the company and Tencent. The relevant person in charge told the reporter.
On February 13, Beijing Jetsen Technology Co.Ltd(300182) issued the announcement on signing major contracts for daily operation of subsidiaries. The announcement showed that Xinjiang Huaxiu culture media Co., Ltd. (hereinafter referred to as “Xinjiang Huaxiu”), a subsidiary of Beijing Jetsen Technology Co.Ltd(300182) , recently signed the film and television program authorization contract (hereinafter referred to as “the contract”) with Shenzhen Tencent computer system Co., Ltd. (hereinafter referred to as “Tencent”), The contract amount is 1.8 billion yuan (including tax), accounting for 56.54% of the audited operating revenue in 2020. If the contract is successfully implemented, it is expected to have a positive impact on the company’s operating results in 2022.
This announcement has aroused widespread concern. Some investors in the stock bar lamented that “they couldn’t sleep last night (February 13), dreaming of a good income today”. Securities companies also recognized the above major benefits. Southwest Securities Co.Ltd(600369) issued a research report, saying that large orders may have a positive impact on the company’s subsequent performance and maintain the “buy” investment rating; Huaxi Securities Co.Ltd(002926) also said that signing an order of 1.8 billion yuan with Tencent is expected to bring considerable cash support for the company’s business expansion, and the valuation level is expected to be further improved to maintain the “buy” rating.
However, it backfired. Judging from the performance of Beijing Jetsen Technology Co.Ltd(300182) in the secondary market on February 14, the funds did not seem to be so “buying”. On February 14, Beijing Jetsen Technology Co.Ltd(300182) opened high, rising more than 7% at one time, but the share price fluctuated downward in the afternoon. The market seems to show obvious hesitation. On that day, Beijing Jetsen Technology Co.Ltd(300182) amplitude reached 10.78% and the transaction amount was 2.375 billion yuan. As of the close, Beijing Jetsen Technology Co.Ltd(300182) was reported at 6.89/share, down 2.27%.
On February 15, Beijing Jetsen Technology Co.Ltd(300182) opened high and went low. It rose nearly 7% during the session, then fell back, and rose 1.6% as of the close. Two trading days after the disclosure of large orders (February 14 and February 15), Beijing Jetsen Technology Co.Ltd(300182) shares fell 0.71%.
“The secondary market will be affected by various factors.” Referring to the stock price performance, the relevant person in charge of Beijing Jetsen Technology Co.Ltd(300182) told the reporter of Securities Daily that the signing of a large contract between Tencent and Beijing Jetsen Technology Co.Ltd(300182) means that Tencent enters the layout of the military commander’s video field. For Beijing Jetsen Technology Co.Ltd(300182) , it is expected to have a positive impact on both the operation side and the profit side.
Not only did it perform mediocrely in the capital market, this large order also attracted the attention of the regulatory authorities. On February 15, Shenzhen Stock Exchange issued a letter of concern asking about the terms and conditions of the “RMB 1.8 billion” contract, including whether the network communication right granted by Xinjiang Huaxiu to Tencent is exclusive and exclusive, the contractual obligations undertaken by Xinjiang Huaxiu in the process of Tencent sublicense, as well as the authorization period of film and television programs, payment arrangements, performance obligations of Xinjiang Huaxiu, etc.
“It also depends on the detailed rules of the contract. Different film and television copyrights (in 6332 film and television programs) have different authorizations.” As for whether the 6332 film and television programs referred to in the RMB 1.8 billion contract are exclusively authorized to Tencent, Beijing Jetsen Technology Co.Ltd(300182) the relevant person in charge replied to the reporter of Securities Daily on February 14.
“As for the scope of rights that can be re authorized, some business terms may have to be involved.” The above-mentioned person in charge further explained to the reporter that although the film and television copyright is authorized to Tencent, it does not mean that it can no longer be authorized in the whole field, but Tencent will still impose some restrictions on us, and the authorization conditions of different channels and platforms are different.
For the proportion of 6332 film and television copyrights consulted by the reporter in the company’s copyright, the person in charge replied that there was no statistics at present.
Then, for the contract just signed, there is no income received and no deposit paid. Can the follow-up contract be implemented as scheduled? The person in charge said, “there may be various default risks in the performance of all contracts, but according to the current contract, Tencent is our important customer and a customer of perennial cooperation. Based on the previous good cooperation atmosphere, the default risk should not be very high. The relevant default risk reminds us that we have made an announcement.”
In addition, the reporter learned from the interview that at present, the Beijing Jetsen Technology Co.Ltd(300182) new actual controller, the Department of Finance and statistics, has not directly participated in the business of listed companies.
