2020 Jul 18 By admin 0 comment

Zhang Yimou and other contract renewals, Sanxiang Impression’s net profit increased by 1 last year.6 times
On April 23, Sanxiang Impression Co., Ltd. (hereinafter referred to as “Sanxiang Impression”) released its 2019 annual report.Reporting the average, Sanxiang Impression achieved operating income.8.8 billion, an annual increase of 21.71%; Net profit attributable to shareholders of listed companies.8.2 billion, an increase of 161 per year.84%; deduction of non-net profit is 1.6.6 billion, an annual increase of 116.04%.Sanxiang Impressions said that the increase in net profit was mainly attributable to the company’s failure to account for the impairment of the ticket income right of related projects and the impairment of goodwill in 2019.In 2018, due to the decline in the performance of its subsidiary Guanyin Art Development Co., Ltd. (hereinafter referred to as “Viewing Impression”), Sanxiang Impression’s goodwill impairment loss reached 11.5.4 billion.In addition, the issue of contract renewal after cooperation between Guan Yin Impression and Zhang Yimou and other core directors has also received much attention.In the 2019 annual report, Sanxiang Impression finally put forward the answer.Zhang Yimou and other core directors renewed their contract with View Impression. View Impression is an important bet on the cultural business sector after Sanxiang Impression transformed its “culture + real estate” dual main business.Since the backdoor listing, Sanxiang Impression, which is the main business of real estate, won the view in 2016 with a purchase price of 1.9 billion in the attitude of “Hao Heng”.Billions.However, the viewing impressions bearing the expectations of Sanxiang impressions did not meet the short-term goals set by Sanxiang impressions.During the acquisition of Guanyin, Sanxiang Impression had made performance commitment goals for 2015-2016 with the original shareholders of Guanyin. In addition to just completing the performance commitment in 2015, Guanyin did not complete its performance in 2016-2018Committed, and affected by the outlook performance, Sanxiang Impression lost goodwill in 201811.5.4 billion US dollars, total asset impairment losses up to 12.4.4 billion.As a result, Sanxiang Impression received an inquiry letter from the Shenzhen Stock Exchange. At the same time, the Shenzhen Stock Exchange also inquired about the “core resources” of Zhang Immou, Zhang Yimou, Wang Chaoge, and Fan Yue.Figure / Screenshot of Sanxiang Impression ‘s annual report Sanxiang Impression disclosed in the reply letter that Zhang Yimou ‘s employment agreement expired in May 2019, “Because Zhang Dao will undertake the creative tasks of multiple national activities, he has not yet provided further services to the company.”Agreement”; Wang Chaoge and Fan Yue’s “Letter of Commitment on Service Term and Other Matters” expired in July 2018. After the expiration, neither Wang Chaoge nor Fan Yue had a service agreement with Guanyin Mileage.The departure of the three core directors has become the core of people’s attention, but Sanxiang Impression has never received an answer last year.In response to the slightly directional content in the letter of concern from the Shenzhen Stock Exchange, Sanxiang Impression increased people’s worries about the future performance of Impression Impressions.At that time, Sanxiang Impression did not deny the uncertain impact of the core director ‘s non-renewal on the company ‘s implementation of the new business development plan in the reply letter, and said that it did not rule out the short-term impact on the development of the Guanyin tourism cultural performance projectThe sustainable profitability of listed companies.Just in the latest 2019 annual report, Sanxiang Impression made it clear that in 2019 the company will further stabilize its cooperation with three directors, signing a project service contract with director Zhang Yimou and director Fan Yue, and partly with director Wang Chaoge.Elections were completed for the maintenance service work of the performance project and new project cooperation.In the future, View Impressions will further improve quality projects, cooperate more flexibly with the three directors, and the transformation will still play an important role in the development of View Impressions business.Some analysts said that the renewal of the three directors has temporarily stabilized the cultural performance brand of the impression, but the light output mode of “composition fee + performance split” adopted by its directors, and shifting competition to fierce heat will expose more limitations.Influence the future impression of market competition.At present, Guanyin Impression has four series of performance brands: “Impression”, “See You”, “Most Memory” and “Return”.As of the end of 2019, Impression Impressions has been performed and produced, and the number of contracted projects has gradually reached 18, of which 12 have been performed.Figure / Screenshot of Sanxiang Impression ‘s annual report The real estate business is still the mainstay of performance growth Although Sanxiang Impression said that it has transformed into a “culture + real estate” dual main business, real estate is still the mainstay of its performance growth.In 2019, Sanxiang Impression ‘s cultural performance revenue was 7343.10,000 yuan, accounting for only 3% of operating income.69%, real estate sales revenue was 17.8.4 billion, accounting for 89% of operating income.73%.Sanxiang Impressions has stated that the company’s primary business growth in 2019 is the company’s project delivery and carryover income has increased in the reported performance.Affected by the overall real estate market, the growth rate of Sanxiang Impression Real Estate’s sales revenue is also the same.Revenue from real estate sales around 20187.52% growth rate, the growth rate in 2019 replaces 3.55%.The annual report shows that Sanxiang Impression’s real estate business is mainly carried out in Shanghai, Hangzhou and Huanjing. There is no new land reserve in 2019.According to Sanxiang Impression, according to market prospects, it will actively participate in the development and construction of the three major urban agglomerations in the Yangtze River Delta, Beijing-Tianjin-Hebei and Guangdong-Hong Kong-Macao Greater Bay Areas while deepening the Shanghai real estate market.The first quarter net profit “reverse” profit Sanxiang Impression said in the 2019 annual report that the new coronary pneumonia epidemic has a huge impact and impact on the travel industry.At the same time, affected by the epidemic, construction sites around the country were suspended from reopening in early 2020, and sales offices in many cities were closed, which may have an impact on the performance of real estate companies in the first quarter.However, most of the most listed tourism companies have suffered losses in the first quarter. Sanxiang Impression continued to achieve profitability in the first quarter of 2020.The first quarter performance report showed that Sanxiang Impression achieved a net profit attributable to shareholders of listed companies of 4074.60,000 yuan, with a net profit deduction of 5,751.170,000 yuan, but the growth rate greatly exceeded, respectively decreased by 89.31%, 72.twenty three%.In addition, operating income also decreased by 71 per year.51% to 3.7.2 billion.Regarding the double-digit revenue and net profit in the first quarter, Sanxiang Impressions stated that, first, the fair value of the original shareholder compensation shares of the previous merger and acquisition target in the reporting period was RMB -24.83 million, a decrease from the previous period;Carry-over income decreased compared with the previous period, resulting in a corresponding decrease in profits in the current period.Although the epidemic has an impact on business such as cultural tourism, Sanxiang Impression continues to be optimistic about the market, and plans to further optimize the business model on the basis of stabilizing the box office revenue and maintenance revenue of the performance projects, highlight the brand advantages, and enhance sustainable profitability.Turn the company into an enterprise with stronger cultural property.The impression of Sanxiang is exposed that this year will accelerate the signing of potential projects and high-quality layout. On the basis of more than 20 projects nationwide inspected last year, pick up potential projects for key breakthroughs.Sauna, Ye Wang Wang Zhenzhen editor Li Zheng proofreading Xue Jingning picture screenshot of Sanxiang Impressions Annual Report, screenshot of Sanxiang Impressions official website