Economic Observer Network reporter Xie Chuchu Overnight, the equity of “Beijing Culture (000802, Stock Bar)” was renamed "ST Northern Text".
In the middle of the night on April 29, Beijing Culture (000802.SZ) announced that the stock will be suspended for one day on April 30, 2021 (Friday), and will be closed on May 6, 2021 (Thursday) Trading resumes from the opening of the market; the company's shares will be subject to "other risk warnings" from May 6, 2021, the stock abbreviation will be changed from "Beijing Culture" to "ST Beiwen", and the stock code will still be "000802"; After the implementation of other risk warnings, daily gains and losses in stock trading are limited to 5%.
The announcement also explained the reasons for being ST, “Because Suya Jincheng Certified Public Accountants (special general partnership) issued a negative opinion on the effectiveness of the company’s internal control in 2020, the Internal Control Audit Report. ” (Su Yashennei  No. 22), according to the provisions of Article 13.3 (4) of the “Shenzhen Stock Exchange Listing Rules”, the company’s shares will be suspended for one day from the opening of the market on April 30, 2021. After resumption of trading on May 6, 2021, "other risk warnings" will be implemented."
The accounting firm also gave a specific explanation in the announcement, "Beijing Culture Atom Company Beijing Century Partner Culture Media Co., Ltd. other Equity instrument investment (Zhoushan Jiawen Xile Equity Investment Partnership (Limited Partnership)) has an initial balance of 366.9921 million yuan. This investment has been transferred out with the disposal of Beijing Century Partner Culture Media Co., Ltd. in this period, because Zhoushan Jiawen Xile Equity Investment Partnership ( Limited partnership) failed to provide accounting books, vouchers, capital flow and other accounting information, we failed to implement the necessary audit procedures for the opening balance of the investment, and were unable to review the opening balance of the investment and its impact on the current year and comparable period data Make an accurate judgment on the possible impact."
The Beijing Century Partner Culture of the atomic company mentioned in the announcement is the party that offered Zheng Shuang a sky-high salary of 160 million. According to Zheng Shuang's ex-boyfriend Zhang Heng's revelations, Zheng Shuang's 160 million remuneration from "A Chinese Ghost Story" has manipulated the "yin-yang contract". Beijing culture has also been implicated.
Regarding Zheng Shuang's "Yin-Yang Contract", the Shanghai Taxation Bureau and the Beijing Radio and Television Department have intervened to deal with it, and the Shanghai Taxation Bureau is conducting an investigation and verification in accordance with tax laws. Zheng Shuang, the party involved, also responded through the official Weibo account that he was willing to accept and cooperate with all investigations. According to the Beijing Daily, the Beijing Municipal Bureau of Radio, Film and Television has now launched an investigation process, interviewing the principals of the companies involved, and conducting a comprehensive inspection of the production costs of relevant plays and actors' remuneration. According to the "Notice on Strictly Implementing the Provisions on the Proportion of Production Cost Allocation of TV Dramas and Online Dramas" issued by the TV Production Committee of the China Federation of Radio, Film and Television Social Organizations on April 19, "A Chinese Ghost Story" produced by Beijing Cultural Investment is likely to be permanently cancelled. broadcast.
Beijing Xingquan Law Firm Pu Yidan said that if the "Opinions on the Cost Allocation Proportion of TV Dramas and Network Dramas" are violated, "if the ratio exceeds the limit of the actors' remuneration, and has not been filed or explained, The affiliated association will report it to the State Administration of Radio and Television, and suspend or permanently cancel the repertoire broadcast, production qualifications and other punishment measures according to the law.”
Previously, Beijing Culture’s 2020 performance forecast showed that “the main projects include: The costume dramas invested and produced by the company are affected by the social public opinion events of the main actors, and there is a major uncertainty as to whether the dramas can be broadcast.” The "main project" mentioned in the article is likely to refer to "A Chinese Ghost Story".
According to the 2020 annual report of Beijing Culture, the net loss of Beijing Culture in 2020 was 767 million; in 2019, the net loss was 2.606 billion. For a long time, Beijing Culture has faced financial pressure. At the beginning of this year, Beijing Culture issued an announcement saying that due to recent financial difficulties, it failed to repay the bank loan on time, the loan was overdue, and the overdue loan principal was 500 million yuan. In response to this situation, Beijing Culture stated that at present,The company is actively communicating with creditor banks, and the company will make every effort to raise funds through asset sales, film project financing, etc., to ease the company's financial tension.
According to the "assets, projects" that can be sold, dramas and films to be broadcast have undoubtedly become the target objects. In addition to "A Chinese Ghost Story" which has not yet been broadcast, other films that have not yet been broadcast by Beijing Culture include "749 Bureau" starring Lu Chuan and Wang Junkai, "Fengshen Trilogy" directed by Wu Ershan, and "Tropical Past Events" starring Peng Yuyan ", "Dongji Island" directed by Guan Hu, etc.
Among the above-mentioned works, the "Fengshen Trilogy", which is accused of benchmarking against "The Lord of the Rings", has attracted much attention from the outside world. But this work has been partially "cut" in recent days. On April 22, Beijing Culture issued a major contract announcement stating that in order to diversify investment risks and ease the pressure on the company's liquidity, the company signed an investment share transfer agreement with Tibet Huipuhua Enterprise Management Co., Ltd. for the movie "Fengshen Trilogy". , 25% of each of the three films, and the transfer price is 200 million. As of the disclosure date of the announcement, Beijing Culture has received 550 million yuan from Tibet Huipuhua.
In response to this transaction, some shareholders questioned that the interests of shareholders were damaged. The investor said on the investment interactive platform, "Beijing Culture sells some shares of Fengshen, but the other party can ask Beijing Culture to buy back at any time, and charge high interest, the risk is on Beijing Culture's side."
And 550 million seems to be "a drop in the bucket". As of December 31, 2020, Beijing Cultural had a capital of 55.89 million yuan, short-term borrowings of 896 million yuan, and current liabilities of up to 2.788 billion yuan.
Beijing Culture used to be known as the "Breakout Machine". The company's "Wolf Warrior II" produced in 2017 brought in 300 million yuan. In 2018, the film "I am not the God of Medicine" produced a revenue of about 255 million; in 2019, the film "The Wandering Earth" produced a revenue of 6.3 billion, accounting for 81% of the total revenue of its film business. During the Spring Festival this year, Beijing Culture once again hit the blockbuster movie "Hello, Li Huanying". The film will be released on February 12, 2021. As of 24:00 on February 17, the company's operating income from the film's box office is about 60 million yuan to 65 million yuan. However, the final revenue of the film has not been disclosed.
As of the close on April 29, Beijing Culture closed at 5.47, down 0.55%. In June 2015, the stock price of Beijing Culture once stood at 43.35 yuan per share.(Editor in charge: Ji Liya HN003)