Happy Mahua's net profit plummeted by 40% before IPO, actor Shen Teng and Ma Li are not on the shareholder list

the former net profit of Happy Mahua IPO plummeted 40%. Actor Shen Tengmari did not appear on the shareholder list

original title: the net profit of Happy Mahua IPO plummeted 40% on the eve: actress Shen Tengmari did not appear on the shareholder list

Beijing Happy Mahua Entertainment and Culture Media shares. The prospectus was disclosed on the website of the Securities and Futures Commission on the evening of June 30. The company plans to issue no more than 40 million shares on the gem of the Shenzhen Stock Exchange, with a total share capital of no more than 400 million shares.

Public data show that the main business of Happy Mahua is performance and derivative business, film and television and health care business and artist brokerage business. The company is located in a comedy company and focuses on the field of comedy. With the established comedy brand "Happy Mahua" as the platform, it is committed to the creation and operation of comedy works and the collection and training of comedy talents. Since its establishment, the company has created more than 20 original repertoire and performed more than 3700 performances. In September 2015, Happy Mahua was valued at 5.1 billion yuan after listing the new third board, which was known as the "first share of the play" on the new third board. One year after listing the new third board, Kaixin Mahua announced its proposed IPO and listing on the gem in early 2017.

it is understood that Happy Mahua currently has a total of 19 troupes and 10 contracted artists, including Shen Teng, Yan Fei and other directors and screenwriters who grew up in Happy Mahua. In 2015, the company shot and released a film "Charlotte annoyance", which grossed 1.44 billion yuan at the box office, while "Donkey gets Water," which was released in 2016, grossed 170 million yuan.

according to the prospectus, Kaixin mahua achieved operating income of 150 million yuan, 383 million yuan and 292 million yuan respectively from 2014 to 2016, while net profit in the same period was 40.7407 million yuan, 132 million yuan and 74.799 million yuan respectively. In other words, the company's operating income in 2016 was 23.76% and 43.18% higher than the same period last year. According to the prospectus, Kaixin Mahua IPO plans to raise 700 million yuan, of which 150 million yuan will be used to replenish working capital and the rest will be invested in drama and film projects.

in terms of the income composition of the main business, the income from happy mahjong performances and derivatives in 2014-2016 was 150 million yuan, 185 million yuan and 264 million yuan respectively, accounting for 100%, 48.2% and 90.21% of the total, respectively. The proportion of income from film and television and derivative business is 0, 51.8% and 9.79%, respectively.

in terms of gross profit margin, Kaixin Mahua's comprehensive gross profit margin for 2014-2016 is 55.89%, 56.62% and 54.45% respectively, of which the gross profit margin of performance and derivative business is 55.89%, 51.72% and 52.83% respectively, which is lower than the average of comparable listed companies; the gross profit margin of film, television and derivatives business in 2015 and 2016 is 61.18% and 69.38% respectively, while the industry average is 29.48% and 25.27%.

it is understood that Happy Mahua currently has 15 holding subsidiaries and 7 shareholding companies, of which the legal representative of Tianjin Shuiyue Culture and Media Co., Ltd., which lost 900 yuan in 2016, is Shen Teng.

the prospectus shows that the controlling shareholder and actual controller of Happy Mahua are Zhang Chen and Yukai. Zhang Chen and thorn hold 60.54% of the shares of the company. After this public offering, their shareholdings have dropped to 54.49%, but they still maintain an absolute holding position. Shen Teng and Ma Li, who are particularly concerned about investors, do not directly hold any shares in Happy Mahua.

Edit: mary