Opinion Index (gdiri) On November 13, Bona Pictures official website released an announcement, reflecting the current dire situation in the film market. The
announcement showed that shareholders such as CITIC Securities Investment, Tibet and Hehe Investment Management jointly planned to reduce their holdings by 54.3 million shares. Among them, CITIC Securities Investment Co., Ltd. and its persons acting in concert reduced its holdings by a total of 13,745,189 shares, and Tibet Hehe Investment Management Partnership and its persons acting in concert planned to reduce their holdings by no more than 40,554,913 shares.
, as the company with the largest shares except founder Yu Dong, Tibet Hehe, this reduction of shares accounts for 2.9691% of the total share capital. Considering the current sluggish film market environment, the opinion index believes that this reduction reflects the current cautious attitude of the capital market towards the short-term performance of the film industry.
in dire straits
It is understood that Bona Pictures’ third-quarter financial performance is facing challenges, with operating income falling by 32.23% year-on-year, from 470 million yuan in the same period to 320 million yuan, and net profit loss expanding to 214 million yuan, a year-on-year decrease 858.33%, and the net profit attributable to the parent company also lost to 216 million yuan, a year-on-year decrease of 855.67%.
While facing a double decline in revenue and net profit, Bona Pictures' cash flow fell by 61.18% year-on-year. In addition to being affected by restricted assets from domestic guarantees and external loans, equity pledges have also become an important factor affecting the company's cash flow. . It is reported that as of the release date of the third quarterly report, Bona Pictures chairman held a total of 282 million shares of the company in winter, of which 137 million shares were pledged, with the pledge ratio as high as 48.7%.
Bona Pictures is not the only one feeling the pressure. The film industry as a whole is currently facing great challenges.
For a single quarter, among the 12 cinema chain-related industry companies monitored by the Viewpoint Index, only Beijing Culture and Huayi Brothers achieved year-on-year growth in net profit and net profit attributable to the parent company in the third quarter. It is worth noting that the growth in this quarter does not mean that the company is out of the challenge. The net profits and returns of the two companies were negative, and the base of these two indicators in the same period last year was low.
Currently, among the 12 sample listed film and television companies, only 5 have net profits of more than 100 million yuan in the first three quarters, and only Guangguang Media has shown year-on-year growth in net profit. , Beijing Culture and Huayi Brothers. The net profits of the remaining nine companies in the first three quarters all fell year-on-year, including Bona Pictures, Jinyi Film and Television, Hengdian Film and Television, Wanda Film and China Film and Television and other film and television companies.
In terms of total operating income in the first three quarters, among the 12 sample companies, only Enlight Media achieved a year-on-year increase, with an increase of 53.37%. The remaining 11 companies all had year-on-year operating income. The decline. Where to go
As 2024 comes to an end, the box office performance of the summer and National Day holidays that have attracted much attention during the year is not satisfactory. According to statistics from the weekly report disclosed by the National Film Data, the total box office in the third quarter was 10.86 billion yuan, a year-on-year decrease of 43.8%, and the number of moviegoers was 265 million. Since the number of blockbuster movies in the summer season has decreased compared with 2023, The number of moviegoers dropped by 43.3% year-on-year. The total box office for the year was more than 16 billion yuan away from 2023. Only 38.8 billion yuan was recorded at the box office. The 915 million ticket sales were also far lower than the 1.3 billion in 2023. .
's "dismal" box office performance is partly due to the fact that the craze brought about by the end of the epidemic in 2023 has gradually returned to rationality. At the same time, more importantly, it has not been able to launch movie content that attracts audiences enough, and the downturn in the economic environment has affected consumers' entertainment consumption ability.
With the rise of digital media and online platforms, more and more short videos and movie commentary have made offline theaters lose their vitality, and the traditional film market is facing transformation pressure.
According to statistics from the Viewpoint Index, the number of moviegoers and total box office fell by more than 40% in the third quarter, and most listed film and television companies suffered losses. The total box office of national movies in the first three quarters was 34.633 billion yuan, a year-on-year decrease of 24%. Among them, domestic films accounted for 77.13% of the total national box office, and imported films accounted for 22.67% of the national box office.Industry experts said that the appeal of movies to audiences is gradually weakening, and box office data for the whole year of this year may fall sharply, and the difference may reach 10 billion yuan.
In fact, in recent years, there have been fewer high-quality hit movies, lack of content innovation, and failure to better cater to market audiences in an environment of intensified industry competition. Coupled with the current integration of the Internet and the film industry, consumers' online viewing behavior has become more mainstream. With the rapid advancement of science and technology, driven by artificial intelligence , cloud computing, virtual reality and other technologies, the film industry has evolved from a single point Optimization has entered full digitalization, VR and other technologies have gradually been widely used, and the scene requirements for movie viewing have also been updated to a certain extent.
For the current film market, with the changes in audience viewing habits and film communication methods, it is necessary to improve the technological content of films, improve and innovate the quality of film content, and use the power of the Internet and technology to develop new business models and growth points are top priorities. As an investor, you may pay more attention to film projects and companies that can provide high-quality content, adapt to market changes, and utilize technological innovation.
Opinion Index (gdiri) On November 13, Bona Pictures official website released an announcement, reflecting the current dire situation in the film market. The
announcement showed that shareholders such as CITIC Securities Investment, Tibet and Hehe Investment Management jointly planned to reduce their holdings by 54.3 million shares. Among them, CITIC Securities Investment Co., Ltd. and its persons acting in concert reduced its holdings by a total of 13,745,189 shares, and Tibet Hehe Investment Management Partnership and its persons acting in concert planned to reduce their holdings by no more than 40,554,913 shares.
, as the company with the largest shares except founder Yu Dong, Tibet Hehe, this reduction of shares accounts for 2.9691% of the total share capital. Considering the current sluggish film market environment, the opinion index believes that this reduction reflects the current cautious attitude of the capital market towards the short-term performance of the film industry.
in dire straits
It is understood that Bona Pictures’ third-quarter financial performance is facing challenges, with operating income falling by 32.23% year-on-year, from 470 million yuan in the same period to 320 million yuan, and net profit loss expanding to 214 million yuan, a year-on-year decrease 858.33%, and the net profit attributable to the parent company also lost to 216 million yuan, a year-on-year decrease of 855.67%.
While facing a double decline in revenue and net profit, Bona Pictures' cash flow fell by 61.18% year-on-year. In addition to being affected by restricted assets from domestic guarantees and external loans, equity pledges have also become an important factor affecting the company's cash flow. . It is reported that as of the release date of the third quarterly report, Bona Pictures chairman held a total of 282 million shares of the company in winter, of which 137 million shares were pledged, with the pledge ratio as high as 48.7%.
Bona Pictures is not the only one feeling the pressure. The film industry as a whole is currently facing great challenges.
For a single quarter, among the 12 cinema chain-related industry companies monitored by the Viewpoint Index, only Beijing Culture and Huayi Brothers achieved year-on-year growth in net profit and net profit attributable to the parent company in the third quarter. It is worth noting that the growth in this quarter does not mean that the company is out of the challenge. The net profits and returns of the two companies were negative, and the base of these two indicators in the same period last year was low.
Currently, among the 12 sample listed film and television companies, only 5 have net profits of more than 100 million yuan in the first three quarters, and only Guangguang Media has shown year-on-year growth in net profit. , Beijing Culture and Huayi Brothers. The net profits of the remaining nine companies in the first three quarters all fell year-on-year, including Bona Pictures, Jinyi Film and Television, Hengdian Film and Television, Wanda Film and China Film and Television and other film and television companies.
In terms of total operating income in the first three quarters, among the 12 sample companies, only Enlight Media achieved a year-on-year increase, with an increase of 53.37%. The remaining 11 companies all had year-on-year operating income. The decline. Where to go
As 2024 comes to an end, the box office performance of the summer and National Day holidays that have attracted much attention during the year is not satisfactory. According to statistics from the weekly report disclosed by the National Film Data, the total box office in the third quarter was 10.86 billion yuan, a year-on-year decrease of 43.8%, and the number of moviegoers was 265 million. Since the number of blockbuster movies in the summer season has decreased compared with 2023, The number of moviegoers dropped by 43.3% year-on-year. The total box office for the year was more than 16 billion yuan away from 2023. Only 38.8 billion yuan was recorded at the box office. The 915 million ticket sales were also far lower than the 1.3 billion in 2023. .
's "dismal" box office performance is partly due to the fact that the craze brought about by the end of the epidemic in 2023 has gradually returned to rationality. At the same time, more importantly, it has not been able to launch movie content that attracts audiences enough, and the downturn in the economic environment has affected consumers' entertainment consumption ability.
With the rise of digital media and online platforms, more and more short videos and movie commentary have made offline theaters lose their vitality, and the traditional film market is facing transformation pressure.
According to statistics from the Viewpoint Index, the number of moviegoers and total box office fell by more than 40% in the third quarter, and most listed film and television companies suffered losses. The total box office of national movies in the first three quarters was 34.633 billion yuan, a year-on-year decrease of 24%. Among them, domestic films accounted for 77.13% of the total national box office, and imported films accounted for 22.67% of the national box office.Industry experts said that the appeal of movies to audiences is gradually weakening, and box office data for the whole year of this year may fall sharply, and the difference may reach 10 billion yuan.
In fact, in recent years, there have been fewer high-quality hit movies, lack of content innovation, and failure to better cater to market audiences in an environment of intensified industry competition. Coupled with the current integration of the Internet and the film industry, consumers' online viewing behavior has become more mainstream. With the rapid advancement of science and technology, driven by artificial intelligence , cloud computing, virtual reality and other technologies, the film industry has evolved from a single point Optimization has entered full digitalization, VR and other technologies have gradually been widely used, and the scene requirements for movie viewing have also been updated to a certain extent.
For the current film market, with the changes in audience viewing habits and film communication methods, it is necessary to improve the technological content of films, improve and innovate the quality of film content, and use the power of the Internet and technology to develop new business models and growth points are top priorities. As an investor, you may pay more attention to film projects and companies that can provide high-quality content, adapt to market changes, and utilize technological innovation.
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