Beijing Culture's total revenue in the first half of the year was 156 million yuan, accounting for more than half of the film and television brokerage business

On the evening of August 1, Beijing Jingxi Cultural Tourism Co., Ltd.(hereinafter referred to as "Beijing Culture") announced its 2016 semi-annual report. Report data shows that in the first half of 2016, Beijing Culture achieved total revenue of 156 million yuan, a year-on-year increase of 80.35%. Revenue from tourism and hotel services was 76.5422 million yuan, and revenue from film, television and brokerage was 78.2352 million yuan.

Original title Beijing Culture released its 2016 semi-annual report: Total revenue was 156 million yuan, a year-on-year increase of 80.35%

. On the evening of August 1, Beijing Jingxi Cultural Tourism Co., Ltd.(hereinafter referred to as "Beijing Culture") announced its 2016 semi-annual report. Report data shows that in the first half of 2016, Beijing Culture achieved total revenue of 156 million yuan, a year-on-year increase of 80.35%; achieved total profits of 8.6913 million yuan, a year-on-year increase of 72.81%; and net profit attributable to shareholders of listed companies was 10.1881 million yuan, a year-on-year increase of 203.07%.

In order to expand the company's main business, enhance the company's overall strength and scale, and realize the smooth implementation of the company's strategy of transforming and developing into the film and television culture industry and ultimately forming a cultural group in the entire industry chain, a non-public offering was launched on May 12, 2014. The company decided to use the capital platform to conduct mergers and acquisitions in the film and television culture industry. It raised funds to acquire two film and television culture companies through non-public offerings and issued 324,459,895 shares. The funds raised were 2.894 billion yuan. On April 5, 2016, the newly issued shares were listed, completing the acquisition of two film and television culture companies, Century Partner and Xinghe Culture, laying the foundation for the company's transformation.

According to public information, Beijing Jingxi Cultural Tourism Co., Ltd. was formerly known as Beijing Jingxi Scenery Tourism Development Co., Ltd., which was established by the former Beijing Jingxi Economic Development Co., Ltd. through fundraising. It was established on November 18, 1997 and was listed on the Shenzhen Stock Exchange on January 8, 1998. Due to "major matters in planning to purchase assets", Beijing Culture's shares have been suspended since the market opened on June 1, 2016. At the time of suspension, Beijing Culture's share price per share was 23.52 yuan, with a total market value of 16.6 billion yuan. As of August 1, 2016, Beijing Culture is still suspended.

Beijing Culture is the first comprehensive listed company in Beijing with local tourism as its leading industry. Its main businesses are tourism and film and television culture. The tourism business focuses on the core scenic spots of Tanzhe Temple, Jietai Temple, Lingshan and Miaofengshan temples, and also operates hotel catering services and other businesses; film and television cultural owners must focus on the development, investment, production and distribution of film and television drama projects, artist brokerage, new media and other businesses. Since 2014, Beijing Culture's main business has been changed to the coordinated development of tourism and film and television culture. As the management rights of many scenic spots operated by the company are about to expire, Beijing Culture is gradually shifting its focus to film and television culture. Move direction. Since 2015, Beijing Culture has actively promoted the company's strategic transformation into the film and television culture industry. In the first half of 2016, Beijing's main cultural business has gradually transformed from the original tourism business to a cultural group covering the entire industry chain of movies, TV series, artist brokerage, variety shows, new media and tourism, cultural real estate.

According to Beijing Culture's 2015 annual report, Beijing Culture's total revenue in 2015 was approximately 350 million yuan, of which the total revenue of the film, television and brokerage sectors was 196 million yuan, accounting for 56%; the total revenue of the tourism and hotel services sectors was 154 million yuan, accounting for 44%. There is not much difference between the two. In the first half of this year, among Beijing Culture's 156 million yuan revenue, revenue from tourism and hotel services was 76.5422 million yuan, and revenue from film and television and brokerage was 78.2352 million yuan. The two are still comparable. However, as the management rights of its scenic spots are about to expire and are likely to be withdrawn early, if we do not continue to explore new resources, Beijing Culture's revenue in the tourism sector will become less and less.

Chen Chen, secretary of the board of directors of Beijing Culture, once said at the beginning of this year,"In order to avoid uncontrollable factors after the expiration of the scenic spot contract, Beijing Culture began to transform into film and television from the end of 2013. It is expected that starting from 2016, the film and television business will account for the proportion of film and television business. The proportion is about 7:3, and the proportion of film and television business will increase year by year in the future."

Looking at the dynamics of Beijing culture in the past six months, the trajectory of its transformation of film and television is also very obvious. According to incomplete statistics, in the first half of this year, Beijing Culture successively acquired and invested in several film and television culture companies, and intensively participated in the investment of many TV series, movies, and variety shows independently or through its subsidiaries, including investing 18 million yuan to participate in the production of the TV series "My Husband Returns", investing 10 million yuan to participate in the production of the Shandong Satellite TV TV program "Huayang Dream Factory", and investing 29 million yuan to participate in the production of the TV series "My Father-in-Law Can Learn Martial Arts"; Invested 13.2 million yuan to participate in the production of the movie "Born on April 1" and invested 22.5 million yuan to participate in Dragon TV's "Come on! In the production of the TV column of "Beautiful Girl", we invested 140 million yuan to participate in the production of the movie "Journey to the West: Legend of the Canopy", invested 45 million yuan to participate in the production of "Extreme Challenge Season 2", invested 7 million yuan to participate in the production of the movie "The Times Are Suddenly Dying", invested 19.6 million yuan to participate in the production of Jiangsu Satellite TV's TV column "Let's Fight", etc.

As of the reporting period, the company produced and participated in the investment of 14 films, including films: "The Time is Suddenly Dying","Born on April 1st","Wolf Warrior II","Journey to the West: Legend of the Canopy","The True Character of Heroes 4" is a new addition. In the second half of 2016, the films "Hedgehog Boy Born to Be Stung","My Name is Li Xuelian" and "Railway Flying Tiger" were released.

The announcement also showed that on July 27, it plans to use its own funds of 10 million yuan to cooperate with Jia Yuling (the famous comedian Jia Ling, who is the largest shareholder of Big Bowl Entertainment with a 35% shareholding), Zhang Guanghui and Sun Jibin to jointly invest and establish Beijing Big Bowl Entertainment Cultural Media Co., Ltd., which accounted for 20% of the total registered capital of the operating company after its establishment. Big Bowl Entertainment's valuation after investing in Beijing culture is 50 million yuan. Beijing Culture stated that it will rely on shareholders 'high-quality entertainment resources and rich experience to form a vertical industrial layout through comprehensive businesses such as comedy creation, IP research and development, artist management, and production and investment of film and television drama variety shows to create a future China's first comedy unicorn company.

Yien.com compiled and released it based on public information and "Zhihui Travel" reports.

[Original Announcement]

Beijing Culture: 2016 Semi-Annual Report

Editor: Nancy