Wanda Cinema Visual China Information Map
On the evening of January 29, Wanda Cinema (002739.sz) disclosed an announcement about returning idle raised funds used to temporarily supplement working capital and making the remaining raised funds permanently replenish working capital. According to the
announcement, Wanda Film held the ninth meeting of the sixth board of directors on June 9, 2023, and reviewed and approved the "Proposal on Using Part of Idle Raised Funds to Temporarily Supplement Working Capital" and agreed that the company would ensure that the raised funds would not be affected. Under the normal progress of investment projects, idle raised funds of no more than 600 million yuan will be used to temporarily replenish working capital. The use period shall not exceed 12 months from the date of review and approval by the board of directors. The company has used the previously used funds before January 26, 2024. All the idle raised funds of RMB 600 million used to temporarily replenish working capital were returned to the special account for raised funds.
As of January 29, the company's special account balance for raised funds was 861.1591 million yuan (including interest income). The company will permanently replenish working capital in accordance with relevant laws and regulations.
Wanda Film’s 2023 semi-annual report data shows that in the first half of 2023, the company achieved total operating income of 6.869 billion yuan, a significant year-on-year increase of 39.10%. The reason for the substantial growth in the main business is: movie viewing revenue for the current period was 4.042 billion yuan, compared with 2.978 billion yuan for the same period in 2022, a significant year-on-year increase of 35.72%. Catering sales revenue for this period was 983 million yuan, compared with 753 million yuan in the same period in 2022, a significant year-on-year increase of 30.61%.
In the first half of 2023, the company deducted 415 million yuan from non-net profit and turned a loss into a profit. Net profit was 427 million yuan, turning a loss into a profit. Net cash flow was 1.167 billion yuan, compared with 627 million yuan in the same period in 2022, a significant year-on-year increase of 86.28%. Although the cash paid for debt repayment was 1.947 billion yuan in the first half of 2023, a year-on-year decrease of 17.06%; the cash received for obtaining loans was 1.681 billion yuan, a significant year-on-year decrease of 43.29%.
From the perspective of business composition, Wanda Film’s main business is the film industry. Its main products include movie viewing revenue, catering sales revenue, and other three items. Movie viewing revenue accounts for 58.84%, catering sales revenue accounts for 14.31%, and others account for 58.84%. than 9.82%.
In the first half of 2023, Wanda Film's gross profit margin increased significantly from 16.96% in the same period in 2022 to 28.26% year-on-year, mainly because the gross profit margin of movie viewing revenue in the first half of 2023 reached 5.02%, compared with -7.51 in the same period in 2022. %, a significant year-on-year increase of 12.53%.
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