Huaqiang Fangte’s revenue in the first half of the year was 1.533 billion yuan, and many businesses such as parks and movies were seriously damaged

by:Ennas      2022-01-24
Recently, Huaqiang Fangte (834793), which once again terminated its IPO application, released the 2020 semi-annual report. The financial report shows that in the first half of 2020, Huaqiang Fangte achieved revenue of 1.533 billion yuan, a year-on-year decrease of 37.19%; net profit attributable to shareholders of the listed company was -83.82 million yuan, a year-on-year decrease of 100.22%, and after deducting non-recurring gains and losses The net profit of -191 million yuan, a year-on-year decrease of 176.45%. This is mainly because Huaqiang Fangte received 204 million yuan in government subsidies in the first half of the year. Currently, Huaqiang Fantawild has two main business categories, one is cultural science and technology theme parks; the other is cultural content products. Regarding the theme park business, Huaqiang Fantawild has already put into operation in Wuhu, Qingdao, Zhuzhou, Shenyang, Zhengzhou and other places, 'Fantawild WorldThere are more than 20 theme parks with brands such as water parks. Regarding cultural content product business, including special films, animation products, theme performances and cultural derivatives. Among them, special films include 'The Charm of KyushuBusiness has ceased; animation products include the 'Bear Infested' series, 'Little Chickens Are Not Easy' series, 'Zodiac Legends' series, 'Little Bugs Have Great Wisdom' series, 'Bear Bear Paradise' series, etc. During the reporting period, the company’s main business, cultural and technological theme parks, had revenue of 1.371 billion yuan in the first half of the year, a year-on-year decrease of 26.96%. Operating costs reached 801 million yuan, with a gross profit margin of 41.56%. Among them, theme parks’ operating revenue was 637 million yuan, a year-on-year decrease of 26.96%. A reduction of 43.04%, and operating costs as high as 719 million yuan, gross profit margin decreased by 12.8%, gross profit loss reached 82 million yuan. In the first half of the year, affected by the novel coronavirus pneumonia epidemic, people reduced their outings, causing related theme parks to be affected by the epidemic. Affected by the epidemic, the company's theme parks will be closed and closed from January 25th. With the improvement of the domestic epidemic situation, Changsha Theme Park resumed its operation on March 18th, and the company's theme parks have all resumed operations. During the reporting period, the company's second main business, cultural content service business revenue was 157 million yuan, a year-on-year decrease of 71.75%, of which the revenue of special film business fell by 68.23%, and the revenue of digital animation business fell by 74.51%. This was mainly due to the suspension of production and production due to the epidemic, which delayed the production progress of special movies. Huaqiang Fangte’s animation film 'Bear Infested Wild Continent' was originally scheduled to be released on Lunar New Year’s Day (January 25), but Affected by the epidemic, it was withdrawn and stopped broadcasting. It is worth noting that the revenue of digital animation in the first half of the year reached 79 million yuan, a year-on-year decline of 74.51%, and the gross profit rate was as high as 94.98%. This was also the company's business with the highest gross profit during the reporting period. The park business all suffered losses. The government subsidy reached 204 million yuan in the first half of 2020. The report shows that Huaqiang Fantawild’s parks all over the country have suffered losses. Among the 20 important non-wholly-owned subsidiaries of Huaqiang Fantawild, 14 of them were in the first half of the year. Net profit is at a loss. Only 6 companies with positive net profit are Fangte (Changsha) Tourism, Fangte (Nanning) Tourism, Anyang Fangte Tourism, Fangte (Handan) Tourism, Fangte (Jingzhou) Tourism, and Fangte (Jingzhou) Tourism. Special (Mianyang) Tourism; 14 of the 16 important joint ventures are losing money, 2 of which have positive net profits are Luoyang Huaxia and Shangqiu Shangte; 12 of 14 important joint ventures have net profits at a loss, and 2 of them have net profits The positive ones are Wuhu Huafu and Wuhu Jiangfeng. It can be seen that most of the company's subsidiaries experienced losses in operating and investing in theme park projects in the first half of the year. Huaqiang Fangte’s 20 important non-wholly-owned subsidiaries received government subsidies. In the first half of 2020, Huaqiang Fangte received theme park operating subsidies of up to 195 million yuan, an increase of 55.332 million yuan over the same period last year, an increase of 39.55%. In addition, the company also received 11.758 million yuan in government subsidies for job stabilization subsidies, an increase of 8.3092 million yuan from 2019, an increase of 240.88%. During the reporting period, the company received 204 million yuan in government subsidies in the first half of the year. For a long time, Huaqiang Fantawild has received considerable government subsidies each year. From 2015 to 2019, its government subsidies were 247 million yuan, 353 million yuan, 330 million yuan, 327 million yuan, and 312 million yuan, respectively, accounting for attributable net profit. The proportions are more than 35%. It can be seen that Huaqiang Fantawild’s main business involves theme parks (which can stimulate regional economic development), special films and digital animation production and other scientific and technological fields, which have obtained extremely high government subsidies, which can reach 300 million yuan on average. , But it also reflects the lack of profitability of the company. The financial report shows that in the first quarter of 2020, Huaqiang Fangte's revenue was 494 million yuan, a year-on-year decrease of 45.78%; a net profit loss of 211 million yuan, a year-on-year decrease of 1583.57%. On the whole, Huaqiang Fantawild’s net loss in the first half of the year has improved a lot compared to the 200 million yuan in the first quarter. With the improvement of the domestic epidemic situation, the theme park business is also developing steadily. However, in addition to the epidemic, Huaqiang Fantawild still wants Facing the problem of profitability of theme parks. In fact, for the theme park business, Huaqiang Fangte continued to sink the market. During the reporting period, the company also established 6 new subsidiaries including Zigong Tourism, Xuzhou Tourism, Yingtan Tourism, etc., and signed contracts with Shanxi Luliang The Bear Haunted Park, Jiangxi Yingtan Bear Haunted Water Park and other projects; on July 18, Mianyang Fantawild Oriental Painting Theme Park has been successfully opened. Regarding the cultural content business, in addition to continuing to promote the bear-infested series of IP, and advancing the production of the new original animation IP 'City of Figurines' movie, at the same time, we are also starting to create new products such as 'Blooming Ladybug GirlIP. For the performance in the second half of the year, let us stay tuned.
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