Losses for two years in a row, continued in the first quarter of 2020 under the epidemic

Losses for two years in a row, continued in the first quarter of 2020 under the epidemic
On April 15th, Contemporary Oriental released the 2019 Performance Express and the first quarter of 2020 performance forecast. The two-year loss of Contemporary Oriental was affected by the epidemic, and its affiliated theaters closed their stores. The first quarter of 2020 will continue to be closed.The debt crisis has restricted Contemporary Oriental’s own hematopoietic capacity, and contemporary Eastern, which has insufficient profitability, is “raising money” for emergency, forming a vicious circle.After losing money for two years and approaching the edge of delisting, the theater closed its doors even worse. On April 15, Contemporary Oriental released its 2019 performance report. The report summarizes that Contemporary Oriental achieved operating income6.2.8 billion, down 19 every year.12%; realized operating profit -3.US $ 3.8 billion, net profit attributable to the owner of the parent company -5.5.5 billion yuan.In the performance forecast, Contemporary Oriental, which is in deep financial crisis, said that the main reason for the 2019 annual performance change is that the company calculates the forecast error based on the litigation judgment or arbitration decision result, and the interest rate is overdue.Accounts receivable and other receivables accrue asset impairment losses; the company’s daily business development is not as expected.Contemporary Oriental has lost money for two consecutive years. In 2018, Contemporary Oriental’s net profit was -16.01 billion yuan, the asset impairment loss is 15.1.9 billion yuan.The contemporary Oriental, which is on the verge of delisting, has another closed door. The 2020 first quarterly performance forecast shows that the report merged and the net profit attributable to shareholders of listed companies decreased by 20 million yuan to 28 million yuan.The most important thing is to be affected by the epidemic. The company’s theaters were closed in February and March, so the company’s operating income decreased.Changing the investment direction of the raised funds + increasing the debt crisis Debt crisis has limited Contemporary Oriental’s own hematopoietic capacity. Contemporary Eastern’s situation of insufficient profitability “raise money” to rescue, forming a vicious circle.Transfusion of listed companies is currently the most important thing in the contemporary East.On April 7th, Modern Oriental changed part of the use of raised funds to convert to the main body of a blood transfusion listed company. The announcement showed that in 2014, Modern Oriental privately issued 1.With 8.5 billion RMB common shares, the total amount of funds raised in this offering is RMB 19.9.8 billion yuan.This time, Modern Oriental will use part of the idle raised funds of RMB 130 million originally used for “Increase Capital Modern Chunhui and Implement Investment in Liaoning Digital TV Value-added Business Project” to permanently supplement working capital.As early as 2015, during the project implementation process of the originally scheduled fixed increase project, the project could not be implemented due to partner reasons.In addition to changing the use of raised funds, Contemporary Oriental is also actively promoting fixed growth.On March 21st, Contemporary Oriental released the second edition of the fixed increase announcement. The announcement shows that the number of non-public A shares issued by Contemporary Oriental does not exceed 2.2.3 billion shares, the price of the issued shares is 2.91 yuan / share, the total amount of funds raised does not exceed 650 million yuan, used to repay bank loans and supplement working capital.The targets of this non-public offering are strategic investors Century Zhongnong and Xiamen Bemao.Century Zhongnong is a contemporary Oriental affiliated company.On December 13, 2019, Contemporary Oriental announced that the company and its subsidiaries had overdue debts totaling 5.7.7 billion US dollars, the total amount of overdue loans involved is 3.500 million US dollars, of which 200 million US dollars are in the implementation stage.As of March 31, Contemporary Oriental (including subsidiaries) had a total of 34 bank accounts frozen, with a total balance of 7.08 million yuan, which accounted for 1 of the company’s most recent audited net assets.28%.Also on December 12, 2019, Xiamen Contemporary Cultural Development Co., Ltd., the controlling shareholder of Contemporary Oriental, and its concerted actors Yingtan Contemporary Investment Group Co., Ltd., Beijing Pioneer Asia Pacific Investment Co., Ltd., Xiamen Xuxi Investment Co., Ltd.The controller Wang Chunfang does not have any plans to transfer equity interests, asset restructuring and other matters that have a significant impact on the company.Sauna, Ye Wang Zhang Yanbian editor Chen Li proofreading Liu Baoqing