The post-80s “second generation” president has entered the meta universe, and Zhejiang Huace Film And Tv Co.Ltd(300133) (300133. SZ) is becoming “young”.
On January 9, Zhejiang Huace Film And Tv Co.Ltd(300133) announced that Zhao Yifang was elected as the chairman of the company and Fu Binxing was elected as the president of the company. At the same time, a special new business department of meta universe was established to seize the new development opportunities in the digital era.
For this personnel and organizational adjustment, an analyst who did not want to be named said in an interview with the reporter of Huaxia times: “the adjustment of organizational structure is a choice accompanying the development of the enterprise, and also reflects the company’s expectation for future development. The change of personnel structure depends on the ability of the second generation or non second generation.” On January 10, Zhejiang Huace Film And Tv Co.Ltd(300133) closed up 1.90%.
post-80s “turtle second generation” upper position
It was announced on January 9 that the 19th meeting of the Fourth Board of directors of the company was held on January 7, 2022 and considered a number of proposals. The board of directors of the company agreed to elect Zhao Yifang as the chairman of the company and Fu Binxing as the president of the company. The term of office is from the date of deliberation and adoption by the board of directors to the date of expiration of the Fourth Board of directors.
According to public information, Fu Binxing was born in 1984, Chinese nationality, without overseas permanent residency. He has a master of film business from Cass School of business, City University of London. He is now the vice president of the company and the president of the subordinate Beijing business group. Up to now, Fu Binxing holds Zhejiang Huace Film And Tv Co.Ltd(300133) 15599857 shares and is the daughter of chairman Fu Meicheng and president Zhao Yifang.
Fu Binxing completed his studies and joined Zhejiang Huace Film And Tv Co.Ltd(300133) in 2007. After experiencing the experience of front-line posts such as international distribution and TV drama production, he expanded Huace Beijing business from scratch, and established diversified businesses such as TV drama, film, artist brokerage, music and animation in the fierce competitive environment to promote the business integration of the company’s “whole film and television industry chain”, Huace film has become a comprehensive and innovative film company with content as the core and “production + distribution” two wheel drive.
Since 2015, Fu Binxing has served as vice president of listed companies and began to participate in the overall decision-making of the company, Zhejiang Huace Film And Tv Co.Ltd(300133) said in an article published on the official website, “This time, Fu Binxing takes greater responsibility in the core leadership team of Zhejiang Huace Film And Tv Co.Ltd(300133) , which will bring a more international and younger strategic vision to the development of Zhejiang Huace Film And Tv Co.Ltd(300133) , inject continuous vitality and creativity into the development of Huace, and continue to promote Zhejiang Huace Film And Tv Co.Ltd(300133) together with Zhao Yifang, chairman of the company.” We will continue to deepen the construction of creative, digital and industrialized content enabling platforms. “
In addition, Zhao Yifang is currently the founder and President of Zhejiang Huace Film And Tv Co.Ltd(300133) . Up to now, Zhao Yifang does not hold Zhejiang Huace Film And Tv Co.Ltd(300133) shares. She is the actual controller of Zhejiang Huace Film And Tv Co.Ltd(300133) . She has a marital relationship with Fu Meicheng, chairman of the company, and a mother daughter relationship with Fu Binxing, vice president of the company.
As for why Zhao Yifang was elected chairman of the company, Zhejiang Huace Film And Tv Co.Ltd(300133) said, “in order to further strengthen the core leadership of the company and promote organizational upgrading.”
At present, Fu Meicheng and Zhao Yifang, the two founders of Zhejiang Huace Film And Tv Co.Ltd(300133) , are over 60 years old. Whether Fu Binxing will succeed as the “second generation” has not been answered by the reporter of Huaxia times as of the time of publishing.
enter the meta universe
Zhejiang Huace Film And Tv Co.Ltd(300133) was established in 2005 and was listed on the gem of Shenzhen Stock Exchange in October 2010. As China’s “first share of TV dramas”, the annual output, network broadcasting volume, market share and overseas export volume of TV dramas rank first in China.
While adjusting personnel, Zhejiang Huace Film And Tv Co.Ltd(300133) also adjusts the company’s organizational structure. What attracts the most attention is to integrate high-quality resources and develop four new business innovation and development sectors: film, copyright, international and meta universe: integrate the cinema business division with the film production, investment and publicity business of Huace film to form the film business division; Integrate copyright businesses such as Jiayun society, olive and drama alliance into copyright start-up companies to build a high-tech digital film and television entertainment material operation platform; Set up a special new business department of meta universe to seize new development opportunities in the digital era.
Yuancosmos became a key word in 2021. From roblox, the first stock of yuancosmos concept, to Facebook’s renaming of “meta” all in yuancosmos, from the primary market to the secondary market, many companies also took a ride on yuancosmos concept stocks.
Zhejiang Huace Film And Tv Co.Ltd(300133) once said on the investor platform that the company actively pays attention to the changes that VR / AR technology and scientific and technological progress may bring to the production and broadcasting methods and application scenarios of film and television dramas, and has made a layout. The company has strategically participated in some VR enterprises, but the impact on the company’s performance is very low.
For the combination of film and television companies and metauniverse, the above analysts believe that “metauniverse is currently commercialized and expanding. What the market has a good understanding is that NFT digital collections and digital people (virtual idols, etc.), the company has copyright advantages, such as its own copyright and permanent copyright advantages, and its content advantages cut into digital collections, which has natural adaptability.”
In addition to entering the meta universe, Zhejiang Huace Film And Tv Co.Ltd(300133) also made the following organizational structure adjustments, adhered to “taking content as the core”, adjusted Hangzhou business group into Hangzhou Drama Center, focused on the development of TV drama business, merged with the drama R & D center, and further implemented the head content strategy; Beijing business group, Shanghai business group and Hangzhou Drama Center jointly develop the main business of TV dramas; The front-end business is empowered through the middle office construction, and the operation management center takes the lead. The brokerage business management center, R & D (evaluation) center, data center, production center and copyright center jointly form the middle office support organization system. The operation management center is responsible for the digital construction of the enterprise in addition to performance target management and business collaboration.
In addition, Zhejiang Huace Film And Tv Co.Ltd(300133) integrates and upgrades the functional departments, integrates the brand marketing center, legal management center and risk control management center into the president’s office, and undertakes the functions of administration, brand publicity, public affairs and legal affairs as a whole; Upgrade the human resource center into an organization and talent development center to undertake the enterprise strategy from a higher dimension; Merge the strategy department and investment management center into a strategic investment center to promote the two-way promotion of strategy and investment.
opportunities for stricter supervision
As a leader among the six major film and television companies, Zhejiang Huace Film And Tv Co.Ltd(300133) remains in good condition in 2021 when the cultural and entertainment supervision becomes stricter.
Zhejiang Huace Film And Tv Co.Ltd(300133) in the third quarter of 2021, the revenue was 754 million yuan, a year-on-year decrease of 3.27%, and the net profit was 90.2963 million yuan, a year-on-year increase of 62.46%; The net profit in the first three quarters was 324 million yuan, a year-on-year increase of 59.74%.
For the better performance in the third quarter, Zhejiang Huace Film And Tv Co.Ltd(300133) Director Secretary Zhang Situo said at the investor meeting on October 31, “in the first three quarters of 2021, the company had 16 series, with 6 more broadcast episodes and 165 more episodes compared with the same period in 2020; in the first three quarters, 9 episodes accounted for the top 10 broadcast performance on the broadcasting platform, with a head rate of 56.25%.
”
In the first half of 2021, the box office of Zhejiang Huace Film And Tv Co.Ltd(300133) commercial film assassinating novelist exceeded 1 billion, filling the gap of China’s dynamic virtual shooting system and setting a new benchmark for China Film Co.Ltd(600977) industrialization.
However, in 2021, the cultural and entertainment industry also faced challenges. In September of that year, the Central Propaganda Department issued the notice on carrying out comprehensive management in the cultural and entertainment field (hereinafter referred to as the “notice”), requiring further strengthening of industry management. Increase the punishment of illegal and immoral artists, and prohibit the return of artists with bad deeds. Standardize star advertising endorsement. Raise the entry threshold and standardize artist brokerage.
Artist brokers are also a source of Zhejiang Huace Film And Tv Co.Ltd(300133) revenue. For regulatory pressure, Zhejiang Huace Film And Tv Co.Ltd(300133) once said at the investor meeting that at present, the company will conduct data research, field risk investigation and background investigation before cooperating with artists. At the same time, the company has a database of main creative teams, including directors and artists. The company believes that tracking and understanding the main creative teams is an important means to avoid risks. For artists with excellent moral character, the company adopts the mode of cooperation of multiple works. If there are risk problems, they will be solved through artist replacement, post production correction, binding with the long-term responsibility of the brokerage company, etc. At present, the price of actors has decreased significantly. With the growth of the new generation of artists, this trend may become the norm. At present, the cost of content is tilting towards production factors such as screenwriters, directors, IP prices and service channels. It is expected that the quality of content will be further improved with control in the future.
“This round of standardization of artists and rice circles enables content companies to use the cost for content improvement, enhance users\’ willingness to pay, and improve the company’s profits. According to the cases of popular dramas in the past, the flow of artists may be one of the important factors, but good content is to create cost value for artists and cultivate artists, so the key lies in the quality of the content itself.” Zhejiang Huace Film And Tv Co.Ltd(300133) also said.
” Zhejiang Huace Film And Tv Co.Ltd(300133) artist brokers can also explore the space of virtual idols. From tax issues to internal management, artist brokers are internally optimized from 2020 to 2021. In 2022, artist brokers can also expect this business with the empowerment of new technologies such as digital people,” the above analysts also said that the core of the company is content, achievements in drama and film, and high-quality content supply, It is obvious to all that from Zhou Sheng as before to life, and then to assassinate the novelist, their content power is highlighted.
(source: Huaxia times)
