Huayi Brothers said frankly that the epidemic situation, economic slowdown, and blocked profits have seen slow or even negative growth for several consecutive fiscal years. In this case, the company first considers paying more attention to operating costs and expenses and rationalizing non-personnel related expenses such as budget, travel and rental costs, but even so, the company still faces enormous operational challenges.
Some propagandists inside Huayi Brothers will leave their posts to handle the resignation. Facing the overall market environment, the company will provide a reasonable resignation plan according to the relevant provisions of the Labor Law and the Labor Contract Law. At the same time, in the film business, the main works of Huayi Brothers with market appeal have also decreased. The financial report of the third quarter of 2022 shows that the films "Anti-Corruption Storm 5" and "Hug You through the Winter" invested by Huayi Brothers did not achieve good box office results during the reporting period.
Brief introduction of Huayi Brothers
Huayi Brothers Media Co., Ltd. is a well-known comprehensive private entertainment group in Chinese mainland. It was founded by Wang He and his brothers in 1994. 1998 invested in the film Endless directed by famous director Xiaogang Feng and The Devil Comes directed by Jiang Wen, and officially entered the film industry.
It became famous by investing in Xiaogang Feng's New Year films every year, and then entered the media industry in an all-round way, investing in and operating films, TV dramas, artist brokers, records, entertainment marketing and other fields, and achieved good results in these fields, and was established in 2005.
In terms of film and television entertainment, the company adheres to the people-oriented principle and has established stable cooperative relations with mature directors with the most appeal and professional strength in the Chinese language market, such as Xiaogang Feng, Jackie Chan and Tsui Hark. At the same time, it also attaches great importance to the support and training of young creative talents, and constantly delivers fresh blood to China films. As the oldest private film company in China, Huayi Brothers has not only created many box office miracles in the past 22 years, but also won many international and domestic film awards.
Reference to the above content: Baidu Encyclopedia-Huayi Brothers