On April 28, Beijing Enlight Media Co.Ltd(300251) ( Beijing Enlight Media Co.Ltd(300251) . SZ) released the first quarter report of 2022. During the reporting period, the company achieved an operating revenue of about 441 million yuan, a year-on-year increase of 83.94%. The net profit attributable to the listed shareholders decreased by about 7.462 million yuan year-on-year.
Despite the decline in net profit, Beijing Enlight Media Co.Ltd(300251) still achieved profits under the influence of the epidemic. If the impact of changes in the fair value of the partnership is excluded, the net profit attributable to the shareholders of the listed company in the first quarter of Beijing Enlight Media Co.Ltd(300251) was 151 million yuan.
Yesterday, Beijing Enlight Media Co.Ltd(300251) released its annual report for 2021, achieving a revenue of 1.168 billion yuan, compared with 1.159 billion yuan in the same period last year, a year-on-year increase of 0.74%; The net loss attributable to shareholders of listed companies was 312 million yuan, and the net profit in the same period last year was 291 million, a year-on-year decrease of 207.09%; The net loss after deduction was 445 million yuan, compared with 234 million yuan in the same period last year, a year-on-year decrease of 289.4%.
It is noteworthy that Beijing Enlight Media Co.Ltd(300251) previously announced that it would be profitable in 2021, but on April 22, Beijing Enlight Media Co.Ltd(300251) issued a revised announcement on the 2021 annual performance forecast, which was mainly due to the adjustment of the financial accounting methods of the two funds invested by the company. Since January 1, 2021, unlisted enterprises have fully implemented the standards such as new financial instruments, and the investment projects of the fund are measured at fair value, and the changes are included in profit and loss. It is reported that Beijing Enlight Media Co.Ltd(300251) has invested a total of 752 million yuan in the two funds, 493 million yuan has been recovered through cash dividends, and only 259 million yuan has not been recovered.
Excluding the impact of changes in the fair value of the partnership, the net profit attributable to the shareholders of the listed company in 3 Tatwah Smartech Co.Ltd(002512) 021 was 673 million yuan (excluding impairment provision), which performed well in the film and television sector.
Specifically, the business of Beijing Enlight Media Co.Ltd(300251) ‘s company focuses on the investment, production and distribution of film and television drama projects. In 2021, Beijing Enlight Media Co.Ltd(300251) ‘s film and derivative business revenue was 914 million yuan, a year-on-year decrease of 2.86%, TV drama business revenue was 107 million yuan, a year-on-year decrease of 30.65%, brokerage business and other revenue was 147 million yuan, a year-on-year increase of 129.75%, which balanced the decline of other businesses and promoted the year-on-year slight increase of annual revenue.
In terms of film business, in 2021 Beijing Enlight Media Co.Ltd(300251) participated in the investment, distribution and included in the box office of this report period, with a total box office of about 2.815 billion yuan. Among them, films such as “surging crowds”, “tomorrow will be fine”, “your wedding”, “sunshine sisters Amoy”, “revolutionaries”, “five boys splashing into the water”, “manslaughter 2” and “love by year” were released during the report period, with a total box office of about 2.793 billion yuan.
It is worth mentioning that low-cost youth love films have always been the advantages of Beijing Enlight Media Co.Ltd(300251) and such films tend to become dark horses at the box office in fixed schedules Beijing Enlight Media Co.Ltd(300251) has achieved high return on investment in this type of film for many times. In 2021, “your wedding” achieved nearly 800 million yuan at the box office, which once again proves its advantage in this type of film.
On April 22, Beijing Enlight Media Co.Ltd(300251) released the record of investor relations activities, “The company’s approach is to increase the production of certain types of films with relatively low cost, such as youth love, comedy and small social theme films; train new people to become the main creative team and stars of the films. These films have low cost. Once the box office performance is good, it is easy to make profits, supplemented by copyright income,” the company’s executives said in response to analysts’ questions
This year, Beijing Enlight Media Co.Ltd(300251) still continues this play. In the first quarter of this year, Beijing Enlight Media Co.Ltd(300251) mainly invested in and released the famous romantic IP film “one product in ten years, Wen Ruyan” starred by the company’s artists, and achieved a box office result of 146 million yuan on the first day of release, breaking the box office record of 214 NEW films on Valentine’s day. Next, I really hate long distance love, which is mainly invested and released by Beijing Enlight Media Co.Ltd(300251) is expected to be released on April 29. We look like love, which will be released on August 4, also adopts the model of Beijing Enlight Media Co.Ltd(300251) ‘s artists and new directors.
According to Xiang Kai, the director of Chinese young playwright, Beijing Enlight Media Co.Ltd(300251) has beautiful financial report data, but the internal dark tide is surging. Many of its works did not meet the industry expectations in 2021, such as sniper and manslaughter 2, which did not give full play to their strengths and advantages. If you adjust a schedule or publicity mode, you may get more box office.
Beijing Enlight Media Co.Ltd(300251) participated in investment and release of the manslaughter 2, which was released on December 17, 2021. It was released a week before Christmas and was not a popular season. In the end, the cumulative box office of the film was 1.121 billion, no more than that of its previous work manslaughter 1.333 billion. In addition, although “sniper” released in the Spring Festival this year has established a good reputation, the cumulative box office is only 601 million yuan, which is difficult to compete with other rivals in the fierce competition of the Spring Festival.
Xiang Kai analyzed that the failure of these works to meet expectations is related to the rigid mechanism of Beijing Enlight Media Co.Ltd(300251) and especially in the aspect of publicity and distribution. The management of Beijing Enlight Media Co.Ltd(300251) pays too much attention to quantitative data management. Although the current financial data performance is good, if it continues to operate in full accordance with this Siasun Robot&Automation Co.Ltd(300024) mode, it may have certain risks for future development.
