Performance suddenly “changed face”. On April 22, Beijing Enlight Media Co.Ltd(300251) issued an announcement to revise the performance expectation in 2021. The expected loss in 2021 was 310 million yuan to 360 million yuan, and the expected net profit was 170 million yuan to 220 million yuan.
Affected by the news, Beijing Enlight Media Co.Ltd(300251) fell more than 12% at one time. So far, the stock has reported 6.83 yuan, with a total market value of 20 billion yuan. The market value evaporated nearly 2.6 billion yuan in a single day, and 57000 shareholders stepped on thunder.
performance suddenly “changed face”
Beijing Enlight Media Co.Ltd(300251) advance loss exceeding 300 million
At noon on April 22, Beijing Enlight Media Co.Ltd(300251) issued a revised announcement on the performance forecast for 2021, which said that the company expected a loss of 310 million yuan to 360 million yuan in 2021, and had expected a net profit of 170 million yuan to 220 million yuan.
after the correction of Beijing Enlight Media Co.Ltd(300251) performance, it is expected to lose 310 million yuan to 360 million yuan, a decrease of 206.51% – 223.69% over the same period of last year. Deducting non net profit, Beijing Enlight Media Co.Ltd(300251) had expected a profit of 40-90 million yuan, down 61.69% – 82.97% over the same period of last year. After correction, the loss is expected to be 440 million yuan to 490 million yuan, a decrease of 287.28% – 308.56% over the same period of last year.
In addition, Beijing Enlight Media Co.Ltd(300251) also announced the expected operating income in the amendment announcement. The company expects to achieve a revenue of 1.16 billion yuan to 1.17 billion yuan, compared with 1.159 billion yuan in the same period last year.
Beijing Enlight Media Co.Ltd(300251) : not subjective
due to adjustment of accounting method
For the main reason for the significant correction of the performance forecast, Beijing Enlight Media Co.Ltd(300251) said that it was mainly due to the adverse impact on the company’s performance caused by the adjustment of the accounting methods of its investment projects by the two partnerships invested by the company. The large fluctuation in the previous performance forecast was not the company’s subjective intention.
Specifically, Huasheng Lingshi and Huasheng Lingfei have fully implemented the new standards since January 1, 2021. The investment projects of the partnership are measured at fair value and their changes are included in the profits and losses. Therefore, the company needs to increase the retained earnings (net profit at the beginning of the period) of 822.54 million yuan at the beginning of 2021 and reduce the net profit of 531.98 million yuan in 2021. The overall impact is that the company increases the fund income of 290.56 million yuan, As a result, the net profit attributable to the shareholders of the listed company disclosed in the previous performance forecast decreased.
Beijing Enlight Media Co.Ltd(300251) said that the actual operation of the partnership is good. Since 2020, there have been successful IPOs of investment projects one after another. The stock price of the corresponding listed companies held by the partnership has increased significantly in 2020. However, in 2021, affected by market fluctuations, the market value of the above-mentioned listed companies has retreated after the sharp rise of stock price in 2020. By the end of last year, after the retreat, the cumulative return on investment multiples of Huasheng Lingshi and Huasheng Lingfei remained at a high level of 1.63 and 1.94 respectively. It is expected that they will still bring considerable returns to the company in the future.
At present, the company’s operation is normal and stable. The films that have been set and to be released in 2022, including “I really hate long distance love” will be released on April 29, and “we look like love” will be released on August 4. In addition, deep sea has also been submitted for approval. At the same time, many films of the company have been completed, and the types of projects that have been reserved and are being promoted are rich, the themes are diverse and the number is sufficient, Other business segments are also in continuous promotion and layout.
investors: it’s really thunderous
On April 22, Beijing Enlight Media Co.Ltd(300251) share price was reflected in advance. It opened low and went low in the morning, and once fell more than 12%. Many investors were confused, “what’s the matter? It fell like this.” (click to enter Beijing Enlight Media Co.Ltd(300251) bar)
Sure enough, Beijing Enlight Media Co.Ltd(300251) released the revised announcement of 2021 annual performance forecast at noon today. Faced with the performance explosion, some investors said, “sure enough, it’s a explosion.”
By the end of the third quarter of last year, Beijing Enlight Media Co.Ltd(300251) still had 57000 shareholders.
share price nearly halved
Judging from the stock price performance, Beijing Enlight Media Co.Ltd(300251) has been falling endlessly since this year, with a cumulative decline of more than 46% during the year, almost halving. So far, the stock has reported 6.85 yuan, with a total market value of 20.095 billion yuan.
Previously, Beijing Enlight Media Co.Ltd(300251) said on the interactive platform that the company has been in a leading position in the animation and film industry for many years, with rich IP reserves, mature technical support, diversified application scenes and other first mover advantages. It is also trying and exploring the cultivation and operation of animation IP, but both animation IP and real idols rely on content works. In recent years, the company’s artist brokerage business has developed rapidly. One of the very important factors is the deepening integration and mutual promotion of the company’s content business and artist brokerage business, and form a virtuous circle.
Western Securities Co.Ltd(002673) said that 2022 is expected to usher in film supply repair and box office recovery Beijing Enlight Media Co.Ltd(300251) has profound experience in producing comedy and love films. With the enhancement of the adaptability of the film market to the epidemic, the light is expected to usher in the restoration of film production capacity. The number of live action films released each year will return to the level of 12-15 films / year before the epidemic, and the box office revenue is expected to grow synchronously Beijing Enlight Media Co.Ltd(300251) occupies the head position in the high growth animation film track. By investing in China’s main head animation producers and a large number of high-quality IP, ray has produced animation films with a cumulative box office of nearly 7.5 billion yuan. Ray is developing a series of films for high-profile animation IP such as “Fengshen”, “journey to the west” and “big fish Begonia”, with high flexibility at the box office in the future.
In addition, Beijing Enlight Media Co.Ltd(300251) investment cat’s eye forms synergy with the issuance business. The market share of cat’s eye entertainment with Ray’s participation in Internet Ticketing is stable at more than 60%. The ticketing platform is the first choice for viewers to obtain film information, grasp the supply and demand of released films in real time, provide Internet marketing data support for ray, and form a joint force at the distribution end.
the film and television sector suffered from the impact of epidemic
Since the beginning of this year, affected by the epidemic and other factors, film and television stocks have suffered setbacks one after another, H&R Century Union Corporation(000892) , Zhejiang Huace Film And Tv Co.Ltd(300133) , Shanghai Fengyuzhu Culture Technology Co.Ltd(603466) , Beijing Hualubaina Film&Tv Co.Ltd(300291) and other stocks have fallen by more than 30% in the year. In addition, Huayi Brothers Media Corporation(300027) , Wanda Film Holding Co.Ltd(002739) , etc. have also fallen by more than 20%.
In this regard, China Merchants Securities Co.Ltd(600999) said that the epidemic had impacted the markets outside China, the film and television industry was hit by the whole industry chain, and the performance of film and television companies was under pressure in the short term. However, film and television companies and marketing companies will benefit most from the recovery of offline scenes after the epidemic. The epidemic has impacted the global film industry. After the short-term pressure on the operation, Chinese film and television companies have strengthened the performance repair and waited for the recovery after the epidemic.
At present, the recovery of China Film Co.Ltd(600977) box office has been obvious, and the box office of imported films has become the key, which may significantly stimulate the market after the epidemic. The market performance of overseas film and television companies is highly dependent on policies. With the subsequent liberalization of cinemas and the gradual elimination of attendance restrictions, cinemas will usher in a leap forward. In addition, with the advent of the post epidemic era, offline scenes are expected to further recover, benefiting China Film Co.Ltd(600977) , Beijing Enlight Media Co.Ltd(300251) , Wanda Film Holding Co.Ltd(002739) and other film and television theater companies.
