It is difficult to sell popular works, and losses continue to expand. Hairun Pictures is no longer star

According to the 2016 annual report released by Hairun Pictures on April 26, Hairun Pictures lost tens of millions of yuan in 2016, and it has suffered losses for four consecutive years. At the same time, the loss has continued to expand, which has made the star stock Hairun Pictures The stars are getting dimmer.

Original title: Hairun Pictures, whose star is no

longer around, mentioned the factors that have attracted the favor of capital in recent years. Film and television and star shareholders must be among them. Hairun Pictures, which is listed on the New Third Board, has these two factors, making the company shine and is well received from inside and outside the industry. According to the 2016 annual report released by Hairun Pictures on April 26, Hairun Pictures lost tens of millions of yuan in 2016, and it has suffered losses for four consecutive years. At the same time, the loss has continued to expand, which has made the star stock Hairun Pictures The stars are getting dimmer.

Losses continue to widen,

Hairun Pictures, which was originally scheduled to release its 2016 annual report on April 14, finally released its complete annual report after being postponed for nearly half a month. The announcement shows that although Hairun Pictures, which is mainly engaged in film and television derivative businesses such as film investment, production, distribution and advertising placement, its operating income in 2016 increased by 3.84% year-on-year to 45.565 million yuan, its loss status has not changed. The net profit attributable to shareholders of the listed company was-62.444 million yuan, which was further expanded compared with the loss in 2015.

Regarding last year's performance, Hairun Pictures said that the increase in revenue mainly came from the box office revenue of "Shout Mountain","Things Are Bad","The Big Reversal", which the company invested as executive producer, and the joint investment in the production of "Three's People", and the advertising revenue of the company's film works. The main reason for the sharp decline in profits was the recognition of losses caused by the film "Gorgeous Office Worker" this year. This film was a bold attempt by the company in the genre film market. However, due to the early entry of this type of plot and musical films into the domestic market, as well as the comprehensive release schedule and other factors, the film did not achieve the expected benefits, resulting in a large loss.

It is worth noting that if Hairun Pictures 'losses are counted, Hairun Pictures, which was established in February 2010, has been losing money for the past four years. According to Hairun Pictures 'previously issued public transfer instructions and annual reports over the years, from 2013 to 2015, Hairun Pictures' net profits attributable to shareholders of listed companies were-1.3948 million yuan, -1.6104 million yuan and-2.914 million yuan respectively, and the scale of losses from several million yuan has gradually increased to losses of tens of millions of yuan. The emergence of continued losses will inevitably cast a shadow on Hairun Pictures.

Through

observation, we can find that Hairun Pictures, which is in a loss-making state, has no advantages in the film market. The first thing that must be mentioned is the many star shareholders behind Hairun Pictures and the many directors and screenwriters who have reached strategic cooperation.

Although it has many stars and professionals in the film and television industry, Hairun Pictures rarely produces blockbuster works. According to information from the Yien Film Think Tank, most of Hairun Pictures 'works have box office worth one million yuan or tens of millions of yuan, and few films have achieved more than 100 million yuan. Currently, one of the films with a higher box office is co-produced and non-executive producers participated in the investment of "The Big Break in the Sky". In addition, Hairun Pictures has also experienced cases where film projects were not released as planned. Among them, the movie "The New Yorker in Beijing" was originally planned to be released last winter, but the release time has not yet been confirmed. In the eyes of practitioners, although there may be unexpected factors during the filming and production process, whether the project can be completed as planned is also a test of a company's ability.

Wei Pengju, dean of the Institute of Culture and Economics at the Central University of Finance and Economics, said that the impact of star shareholders on the overall operation of film and television companies is not as great as people understand."On the one hand, stars may not directly participate in the film and television projects of the companies they invest in, such as participating in low-paid films, or participating in the operation and implementation of projects. From this perspective, the role of stars is limited; on the other hand, as investors, if it is purely financial investment, stars will pursue corresponding or more investment returns based on their own value and influence, which will instead bring pressure to the company." In addition, after experiencing rapid development, the domestic film market has begun to enter a period of adjustment. It is no accident that Hairun Pictures 'overall profit is not good. It reflects the actual development of the domestic film and television industry. On the surface, it is very hot, but in fact, the investment success rate and yield are not very good.

Ambition and professionalism need to be both ambitious and professional

. Given the performance of Hairun Films, as a member of the "Hairun Group", Hairun Films has the same actual controller as Hairun Films, and Hairun Films has tried to use backdoor and other methods to land in the capital market, some people have doubts about whether Hairun Films will have a certain impact on the future development of Hairun Films or other "Hairun Films" companies. In this regard, some industry insiders believe that Hairun Film mainly targets the film field, while Hairun Film and Television focuses on the TV drama industry. The two are different in terms of business, and the specific operation methods of the project are also different. The actual impact is difficult to define and measure, but because it belongs to the "Hairun Department", performance losses will inevitably have a certain impact on the entire brand.

Investment analyst Xu Shan believes that star shareholders and contracted directors and screenwriters are all advantages of Hairun Pictures, and industry professionals are also one of the key elements in creating high-quality content works. In the future, Hairun Pictures will need to see how to further integrate professional talent resources with the company's project creation and operation, allowing the company's advantages to create more value. At the same time, the film industry itself has high risks and income uncertainties. Hairun Pictures also needs to grasp the operation of each project and achieve better layout and control in terms of cost, time, business cooperation, etc., so as to achieve risk control to a certain extent, gradually stabilize the company's performance, and avoid The actual income differs significantly from expectations, resulting in increased losses.

In addition, in Wei Pengju's view, at this stage, more and more stars are choosing to be investors or start their own companies, and related companies in the film and television industries are also willing to associate and bind stars in the form of shareholders. Stars certainly have many advantages such as industry resources and influence, but relying solely on star shareholders is not enough to achieve the company's long-term operation and development. In the future, Hairun Pictures will need more professional operations.

Editor: Nancy