Yunnan culture prepares for the transfer: designated performances, expanding live theaters, and developing derivatives

全文约0字，阅读需要0分钟

The encounter of Yunnan culture on the New Third Board has been expected. As a company with Yang Liping as its core, a series of issues such as the dispersion of tourists, single plays, and lack of successors are all concerns of the capital market. In the current structure of Yunnan Culture Company, Yang Liping is responsible for all art-related matters, while Wang Yanwu has always been responsible for matters at the company and capital levels. The two have been cooperating since 2004 and have a tacit understanding. Wang was even described by the media as "behind the peacock...

Today, Yang Liping has multiple identities. She is not only a famous dancer, but also the chairman of "Yunnan Culture", a company listed on the New Third Board. She holds 56.96% of the shares. Based on the latest market value of 360 million yuan, Yang Liping is already in Yunnan Culture alone. She has more than 200 million yuan worth.

Original title: Yunnan culture needs to be transformed? Yang Liping: Whether dancing or not has little impact on the company

At the original Yunling Theater in Lijiang, Yang Liping is nervously preparing for the press conference of the dance drama "The Sound of Yunnan". At the age of 58, she is still a front-line dancer. "Who says you can't dance at 58?" Yang Liping asked back,"I can dance when I am happy, which has little to do with my age." Yang Liping said while stretching out her hands and dancing.

However, since Yunnan Culture was listed on the New Third Board for a year and a half, its performance and income have not met expectations, and it has not received the expected courtesy in the capital market. Its general manager Wang Yanwu even bluntly said: "I am not very optimistic about the New Third Board. The liquidity is too poor."

In fact, the encounter of Yunnan culture on the New Third Board has been expected. As a company with Yang Liping at its core, a series of issues such as the dispersion of tourists, single plays, and lack of successors are all concerns of the capital market.

However, Yang Liping and Yunnan Culture have gradually faced these problems. A series of changes such as designated performances, expanding live theaters, developing derivatives, Internet ticket sales, lowering ticket prices, and cultivating dance successors are slowly advancing. If it goes well, Yang Liping hopes to realize the transfer within 2-3 years.

The stage play "The Sound of Yunnan" and "The 7-Year Itch" are scheduled to be performed. As

the creator of the stage play "The Sound of Yunnan", Yang Liping decided to use it as the second scheduled performance project of Yunnan culture after seven years of touring, hoping to replicate the success of the previous project "Yunnan Image".

"The tour is limited in cities and the ticket prices are high. How many people can see it?" Yang Liping was a little helpless. After handing over the tour to the performer, many things were no longer up to her own discretion. The theater in Lijiang belongs entirely to "The Sound of Yunnan". The stage scenery can be redesigned, the theater structure can be rebuilt, and ticket prices can also meet tourists 'psychological expectations.

Lijiang was chosen as a performance city mainly because of its tourism industry potential. According to incomplete statistics, Lijiang has 10 million tourists every year. In 2016, it is expected that 500,000 tourists will come to watch performances. This is a market that can be continuously explored in depth.

In the disclosed 2015 annual report, it is expected that 307 performances of "The Sound of Yunnan" will be held in 2016, with an estimated revenue of 20 million yuan. This means that there will be performances almost every day, 365 days a year, and sometimes even twice a day. Yunnan culture is making dance dramas into fast-moving consumer products and launching them to the market.

The military counselor behind Yang Liping and her reflection on the New Third Board

"Capital and art. Only those who truly adapt art to the market and support the troupe can preserve these national characteristics and become a living museum. Currently I am also doing experiments." Yang Liping doesn't mind the introduction of such FMCG products to the market.

Behind this, her "military counselor" Wang Yanwu has been making suggestions. In the current structure of Yunnan Culture Company, Yang Liping is responsible for all art-related matters, while Wang Yanwu has always been responsible for corporate and capital matters. The two have been cooperating since 2004 and have a tacit understanding. Wang was even described by the media as "the capital promoter behind the peacock."

Wang Yanwu has profound financial background. He once served as an executive director of Morgan Stanley International's equity marketing department. He led Yunnan Culture's 2014 backdoor main board company Tianlong. After failing, he immediately moved to the New Third Board, becoming one of the earliest cultural enterprises on the New Third Board. "Tianlong has no influence on us. We also have our own rhythm and will not entrust our destiny to other companies."

"We have enjoyed the dividends of the New Third Board. We have successfully raised funds when the market was good and we have reserved some ammunition. But now policy review is becoming more and more strict." One and a half years since its listing, Wang Yanwu has deeply felt the changes in the New Third Board market. Currently, all three rounds of fixed increases have been completed between March and September 2015, raising nearly 80 million yuan.

"The New Third Board has lost its financing function, and less than 1/7 of the companies have successfully raised funds. We want to transfer the board in the next two or three years." Wang Yanwu said that the current capital operation status of the New Third Board is obviously unreasonable for Yunnan culture. As for the way to transfer the board, it can be mergers and acquisitions or IPO, but if the queue on the GEM takes 5 years, Yunnan Culture will definitely not be able to wait and will seek other methods.

The books are not very beautiful, and the elf dancers are "a little annoyed"

. As the New Third Board becomes increasingly strict, Yunnan Culture's life is also a little difficult. From June 2015 to June 2016, the transaction price of Yunnan Culture on the New Third Board has dropped from a peak of 21 yuan to less than 10 yuan today, a drop of more than 50%. This shows that investors still have certain concerns about purchasing Yunnan Culture stocks. However, the ups and downs of A-shares have indeed affected the share price of Yunnan Culture. The main problems of Yunnan culture are the single performance and repertoire, the small audience, and the excessive reliance on Yang Liping personally. Talent training has not achieved the expected results.

These are all reflected in the latest annual report. In 2015, the company's operating income was 48 million yuan, a year-on-year decrease of 16%, and its net profit was 4.49 million yuan, a year-on-year decrease of 73%. The government subsidies received in the current period were approximately 13.2 million yuan, almost 3 times the net profit. This performance is worrying. Faced with such data, Entertainment Capital has some doubts: Will such a ratio have an impact on the company's normalized operations in the future? According to Wang Yanwu, these funds come from projects such as the Central Cultural Industry Development Special Fund and the National Arts Fund. These subsidies are in line with policies and are the government's support for culture. If the policy remains unchanged, good works will continue to apply for state subsidies.

The specific reasons for the decline in income are closely related to the above points. Yang Liping was busy writing the dance drama "Ambush from All Sides" and didn't start the tour until the creation was completed in September. Therefore, the revenue from the tour dropped by 12% year-on-year; the performance of "Yunnan Image" in Kunming began to enter a retrogression period, and the income decreased; in addition, the company's internship equity incentive policy, more than 10 million yuan was included in the current fiscal year, which had a greater impact on overall profits.

Unlock: Although Yang Liping chose to start with designated performances and add plays

, the reporter was pleased to see that Yang Liping and Yunnan culture were changing and developing in a good direction.

First of all, the number of designated performance venues has been increased. Previously, only Kunming's performance venue and "The Impression of Yunnan" were put into use for designated performances. In 2016, not only the designated performance of "The Sound of Yunnan" by the original Yunling Theater in Lijiang was added, but also the Huangshan Scenic Area's "Huangshan Image" will also open at the Huangshan Grand Theater on July 1. The Five Golden Flowers Theater in Dali and the Theater in Xishuangbanna are also preparing to solve venue concerns for the future implementation of "Peacock" and more plays.

The reporter believes that this is a good way to overcome the unstable flow of people relying on a single scenic spot. Dispersing business risks and performing at regular locations is itself the first step towards stable development for the company.

"In fact, we have a lot of plays. Currently, there are 8, but there is no place to perform them." The finalization of these two designated plays and performance venues will finally make Yunnan cultural performance venues no longer stretched. If they operate well, they will continue to develop other plays and performance venues in the future.

The increase in performances is also a positive signal that Yunnan culture sends to the market. The previous situation where two dramas supported one company is being broken. New dramas such as "Ambush from All Faces","The Sound of Yunnan" and "Huangshan Image" will all be launched., gradually filling the unexplored market of "Yunnan Image".

Individual tourists and travel agencies, the second Yang Liping and other issues, is Yunnan culture ready?

In addition to works, Yunnan Culture will also focus on building its own ticketing system in the hope of attracting more individual customers. Before 2015, Yunnan Culture's ticketing was packaged to agents, resulting in inflated ticket prices and exceeding the psychological expectations of some tourists. After 2015, the company tried to integrate its official website, official Weibo, public WeChat and ticketing system self-operated platform models to reduce ticket prices, and received more than 150,000 tourists throughout the year; box office revenue from individual tourism-related businesses exceeded 25% of total revenue, playing a positive role in getting rid of dependence on travel agencies and other agents.

In 2016, based on better integration of the ticketing system, we will try to provide ticketing system services to other performance units to increase our own risk resistance capabilities.

As for the "second Yang Liping" issue, it is directly related to the construction of Yunnan's cultural talent echelon. In the interview, 58-year-old Yang Liping did not shy away from this question. She knew that she would eventually retire one day. How to make Yunnan culture not rely on her became an important issue."We must respect the rules of personnel replacement, so we have to take action now."

According to data, Yunnan Culture has three performance troupes, with a total number of performers exceeding 150, accounting for more than 55% of the total number. New actors are still being recruited. They all call Yang Liping the "Village Head of the Art Production Team". The village head not only has to choreograph the dance, but also has to select actors. She selects and trains people like Xiaga, Yang Wu, Ashan Muzi, Abasang, etc.,"But whether people can stay or not, they can only rely on personal preference and cannot be forced."

Many people question whether the small bunting spinning during the Spring Festival Gala is gradually fading out of public view. Will it appear "not doing proper work" to appear in dramas, TV series, etc. However, Yang Liping doesn't care."I also acted in movies back then, and I have never seen my focus shift." When talking about small bunting, she said that she would respect the idea of bunting. Whether it is film, television, drama, or dance, they are all honing. Why should we draw a clear line?

In addition, the company has also made a "big bleed" in retaining talents. Last year, Yunnan Culture spent more than 10 million yuan to provide equity incentives to company executives and core actors.

"Whether Teacher Yang dances or not does not have much impact on current income. When he doesn't dance, we will increase the number of designated performances." Wang Yanwu said that in fact, the company's annual report has shown the risk of relying too much on Yang Liping, but they have countermeasures. "In fact, people will understand in the future that Teacher Yang is not an IP personally, but his work is an IP."

In 2016, the company will try more IP product development, and even introduce Internet crowdfunding to develop image peripherals, performance derivatives, etc. For example, the company designed clothes and hats based on "Ambush from All Sides". In order to expand its scale, the company established Yunnan Yang Liping Information Technology Development Co., Ltd., which is responsible for the development and operation of derivatives and the management of end customer data to develop the fan economy.

In addition, we are gradually making efforts on high-quality tourism projects, combining the boutique hotels in Hani Town, and developing tourism products such as food and handicrafts with Yunnan culture as the core.

In the future, the company will also update its talent pool, gradually build a professional team, have a professional design team and creative choreography team, and establish cooperative relationships with well-known domestic artists, such as Ye Jintian, Sa Dingding, stage designer Sun Tianwei, etc., gradually jumping out of Yang Liping's single IP thinking circle.

Editor: yvette