Wu Yi, producer of “soldiers assault”, was arrested!
recently, the A-share listed company Zhewen Pictures Group Co.Ltd(601599) announced that Wu Yi, the legal representative of the subsidiary Tianyi film and television, was suspected of taking advantage of his position and was placed on criminal investigation by the public security organ. On February 28, Wu Yi was arrested with the approval of Dongyang people’s Procuratorate
As soon as the above news came out, it immediately triggered a heated debate in the film and television industry. Wu Yi, born in 1963, is currently the chairman and general manager of Tianyi film and television. He is a well-known producer in the industry. He has served as the producer of popular dramas such as “soldier assault”, “my head, my regiment” and “Wang Dahua’s revolutionary career”.
At the same time, Zhewen Pictures Group Co.Ltd(601599) has formally submitted litigation materials to Hangzhou intermediate people’s Court of Zhejiang Province to recover 264 million yuan of performance compensation from Wu Yi and Xinyu Shangshan Ruoshui (actually controlled by Wu Yi).
Tianyancha app shows that there are 7 companies under Wu Yi’s name, and 5 are in existence. Wu Yi was involved in a number of consumption restriction orders, information of dishonest Executees, etc., and the total amount of non performance was about 122 million. At the same time, Tianyi film and television and Wu Yi have been sued for contract disputes and private lending disputes for many times.
suspected of embezzlement
The legal representative of Zhejiang Tianyi film and Television Co., Ltd. (hereinafter referred to as “the legal representative of Zhejiang Tianyi film and Television Co., Ltd.”) was informed by the public security bureau that he was suspected of embezzling the position of Zhejiang Tianyi film and Television Co., Ltd. (hereinafter referred to as “the legal representative of Zhejiang Tianyi film and Television Co., Ltd.”). On February 28, Wu Yi was arrested with the approval of Dongyang people’s Procuratorate
Zhewen Pictures Group Co.Ltd(601599) said that the company would actively cooperate with the investigation of the public security organ and fulfill the obligation of information disclosure in strict accordance with the regulatory requirements.
At the same time, Zhewen Pictures Group Co.Ltd(601599) (plaintiff) has formally submitted litigation materials to Hangzhou intermediate people’s Court of Zhejiang Province to recover the outstanding performance gambling commitment of 264 million yuan from the defendants Wu Yi and Xinyu Shangshan Ruoshui (the company is actually controlled by Wu Yi).
The Chinese reporter of the securities firm learned that Wu Yi, who was arrested this time, is a well-known producer in China. He has served as the producer of popular dramas such as “soldier assault”, “my head, my regiment” and “Wang Dahua’s revolutionary career”. In Douban, the score of “soldier assault” is as high as 9.4, and that of “my head, my regiment” is 9.5.
According to public information, Wu Yi, born in 1963, graduated from Beijing Film Academy with a bachelor’s degree and an EMBA in Business Administration of the University of international business and economics He used to be the production director of Hunan Hunan Tv & Broadcast Intermediary Co.Ltd(000917) program branch and the president of Zhejiang Huayi Brothers Media Corporation(300027) Tianyi film and Television Co., Ltd. now he is the chairman and general manager of Zhejiang Tianyi film and Television Co., Ltd. He has won the honors of “national top ten producers” and “continuous contribution award of Beijing Film Academy”.
According to the official website of Tianyi film and television, Mr. Wu Yi has entered the field of film and television production for more than 20 years and has successively completed more than 40 film and television dramas and more than 1000 episodes. Wu Yi led the team to successfully create a large number of excellent works, such as Qianlong Dynasty, absolute power, soldiers’ assault, my head, my regiment, old dream, holy gate, Wang Dahua’s revolutionary career, a better life, and the film massage, which have won many awards and praise at home and abroad.
Why did you get to this point? It is related to the transfer of Tianyi film and television’s equity four years ago
it is understood that Wu Yi’s arrest is related to his transfer of Tianyi film and television’s equity to the listed company Zhewen Pictures Group Co.Ltd(601599) (formerly known as “Lugang culture”) four years ago. In that year, Wu Yi’s company Xinyu Shangshan Ruoshui transferred 45% of the equity of Tianyi film and television to Zhewen Pictures Group Co.Ltd(601599) , but failed to complete the performance gambling commitment in the later stage, causing a chain reaction
According to media reports, last year, Zhejiang cultural investment invested 600 million yuan and sent a professional management team into the listed company, gradually promoted the takeover of Tianyi film and television, completed the assets and capital verification, and finally fully took over the daily operation and management of Tianyi film and television. During this process, Zhewen Pictures Group Co.Ltd(601599) found Wu Yi’s previous job occupation and resorted to legal proceedings.
Looking back, on November 6, 2017, Zhewen Pictures Group Co.Ltd(601599) signed the equity transfer agreement with Xinyu Shangshan Ruoshui (the actual controller is Wu Yi) and Wu Yi, and Xinyu Shangshan Ruoshui transferred 45% of the shares of Tianyi film and television to Zhewen Pictures Group Co.Ltd(601599) . Upon completion of the acquisition, Zhewen Pictures Group Co.Ltd(601599) will hold 96% of the shares of Tianyi film and television, and remain its largest shareholder and actual controller.
Xinyu Shangshan Ruoshui and Wu Yi promised at that time that the audited net profit of Tianyi film and television will not be less than 100 million yuan, 120 million yuan and 150 million yuan from 2017 to 2019. If the above agreement is not met, the first defendant (Xinyu shangshanruoshui) shall perform the obligation of compensation. If the first defendant fails to perform, the second defendant (Wu Yi) shall perform the obligation of compensation.
However, subsequently, the performance commitment of Tianyi film and television was not completed, and the difference was 234.48 million yuan Zhewen Pictures Group Co.Ltd(601599) said that the two defendants should have performed the obligation of compensation for gambling immediately. On November 2, 2020, the plaintiff and the defendant reached a supplementary agreement on the gambling compensation obligations agreed in the equity transfer agreement through negotiation, mainly including:
1. All the shares of the plaintiff held by the defendant are pledged to the plaintiff;
2. The lifting period of the defendant’s shares shall be extended to the completion date of performance gambling agreed in the supplementary agreement;
3. Add the performance gambling period from 2021 to 2025. Within the newly added period, in addition to continuing to complete the accumulated net profit difference of RMB 234.48 million from 2017 to 2019, it shall also complete an additional net profit of no less than RMB 30 million per year.
After the signing of the supplementary agreement, due to the behavior of the defendant (referring to Xinyu shangshanruoshui and Wu Yi), the performance of the supplementary agreement lost the objective basis: the defendant agreed in the supplementary agreement that all the shares used for mortgage had been forcibly closed, and the performance of the supplementary agreement lost the basic guarantee; Both defendants were listed as Executees because they had huge debts and could not plan according to the time limit specified in the effective legal instruments.
Therefore, Zhewen Pictures Group Co.Ltd(601599) entrusted a lawyer to send a lawyer’s letter notifying the two defendants to terminate the supplementary agreement. After the termination of the supplementary agreement, the defendant should immediately pay the compensation for the difference between performance and gambling in accordance with the equity transfer agreement. At the same time, Tianyi film and television did not generate profits in 2021 due to the defendant’s behavior. Such losses shall be borne by the defendant according to the calculation of no less than 30 million yuan.
On March 1, Zhewen Pictures Group Co.Ltd(601599) said that in the lawsuit between the company and Xinyu Shangshan Ruoshui and Wu Yi, the company had officially submitted litigation materials to Hangzhou intermediate people’s Court of Zhejiang Province, involving 264.48 million yuan, of which 234.48 million yuan was compensated for the net profit of performance gambling; Compensate 30 million yuan for the loss of performance gambling in 2021.
Wu Yi involves multiple consumption restriction orders, and there are 7 companies in his name
Tianyancha app shows that there are seven companies under Wu Yi’s name, five of which are in existence, namely Shaanxi Cultural Investment (film and television) Yinhai Investment Co., Ltd., Zhejiang Tianyi film and Television Co., Ltd., Xinyu Shangshan Ruoshui Asset Management Co., Ltd., Shenzhen Jingteng mutual Music Marketing Co., Ltd., Horgos Zhejiang Sunflower Great Health Limited Liability Company(300111) film and Television Culture Co., Ltd., most of which are film and television related companies, Wu Yi is a shareholder or holds the positions of legal representative, director and general manager.
According to tianyancha’s personal risk information, Wu Yi was involved in a number of consumption restriction orders, information of dishonest Executees and the final case, with a total amount of about 122 million outstanding. At the same time, Zhejiang Tianyi film and Television Co., Ltd. and Wu Yi have been sued for contract disputes and private lending disputes for many times.
it is worth noting that Wu Yi holds about 14.57 million shares in Xinyu Shangshan Ruoshui Asset Management Co., Ltd. and Shaanxi Cultural Investment (film and television) Yinhai Investment Co., Ltd., which were frozen in 2020
Zhewen Pictures Group Co.Ltd(601599) mainly engaged in film and television and wool textile business. There has been a change in the stock price recently
Finally, let’s take a look at the listed company Zhewen Pictures Group Co.Ltd(601599) , which has a dispute with Wu Yi this time.
Zhewen Pictures Group Co.Ltd(601599) is mainly engaged in film and television business and wool textile business. The main businesses of the film and television business segment include the production and distribution of traditional TV dramas, the production and distribution of online dramas, and the investment and distribution of films; The main business of wool textile business segment is the production and sales of all kinds of worsted, semi worsted yarn and high-grade worsted fabrics. The company also involves hotel operation and sewage treatment business.
according to the latest performance forecast, the company expects to turn the annual performance into profit in 2021, and is expected to realize a net profit of 64 million yuan to 96 million yuan, compared with a loss of more than 1 billion yuan in the same period of last year. The net profit after deducting non recurring profits and losses was a loss of 224 million yuan to 336 million yuan
In 2021, the overall textile industry of the company operated relatively stably, and the revenue of the textile sector of the company maintained steady growth. In 2021, the company achieved an operating revenue of about 2.5 billion yuan.
Meanwhile, affected by the demolition and sale of the company’s plant located in Lugang Industrial Park, Tangqiao town, Zhangjiagang City, the non recurring profit and loss of this year is about 350 million yuan to 400 million yuan.
However, because the company’s film and television sector has accrued impairment provisions for the plays that have not been broadcast according to the customer and market conditions, the subsidiary Tianyi film and television has not completed the expected performance commitment. Therefore, the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses has not been profitable.
it is worth noting that Zhewen Pictures Group Co.Ltd(601599) has raised the limit in large quantities for three consecutive trading days from February 14 to 16. As for the reasons for the change of stock price, Zhewen Pictures Group Co.Ltd(601599) said that after the company’s self inspection, the company’s current production and operation are normal, the company’s current main market environment or industrial policies have not been significantly adjusted, and there is no major information that should be disclosed but not disclosed
In the following trading days, Zhewen Pictures Group Co.Ltd(601599) share price fluctuated and corrected. However, on March 2, the company’s share price rose 1.47% against the market to 3.46 yuan / share, with the latest market value of 4 billion yuancenter>
