In three years, the market value has shrunk by 6 billion, and Wang pledged 90% of his shares to cash out. Why can't Huayi Brothers do it?

? This is not the first time that the Wang brothers have pledged shares. This happens almost every year from 20 1 1, and the peak of 1 1 will appear at 20 15 and 20 17. In August last year and April this year, Wang's personal equity pledge rate was close to 90%, so this equity pledge does not mean that they have to "run away", but may be a normal capital operation.

Generally speaking, film and television culture companies are slow to raise funds, and it takes a long time to solve the problem after the film is released. During this period, film and television production companies will raise funds for project investment or equity investment through equity pledge or issuance of corporate bonds. The data shows that as of June 8, Huayi Brothers' equity pledge rate was 25.23%, Huace Film and Television Industry was 29.89%, and Light Media was 2 1.89%.

However, it is an indisputable fact that the pledge rate of shares held by Wang Brothers is much higher than that of controlling shareholders Huace Film and Television and Light Media, and there are still obvious risks. As of June 10, the pledged shares of the controlling shareholder of Huace Film and Television (Daye Investment) accounted for 68.80% of the total shares of the company held by it; As of May 9, the shares pledged by the controlling shareholder of Huace Film and Television (Daye Holdings) accounted for 49.07% of the total shares held by the company.

At a forum of the 20 13 Shanghai TV Festival, Wang said that he was very optimistic about the film market in China. Huayi's future market value may reach 50 billion yuan, which is expected to reach 654.38+000 billion yuan. The reason why Huayi is not optimistic today is related to business adjustment, rising costs and capital inflow.