The Huayi brothers who had borrowed 700 million yuan (RMB, the same, Sim of 129 million yuan) from Alibaba Films planned to sell 70%of Dongyang Meila to Ali Films to repay the loan.
According to Caixin.com, Huayi Brothers issued an announcement on Tuesday (July 23) that it is an agreement with Alibaba Films to sign an agreement with Alibaba Films.70%of the equity transfer to Alibaba Films (referred to as Dongyang Meira), with a equity transfer amount of 350 million yuan. After the transfer is completed, the company no longer holds the equity of Dongyang Meira.
Dongyang Meira is a well -known director Feng Xiaogang, established in September 2015. In order to strengthen the binding of Chinese director and IP IP, on November 19, 2015, Huayi Brothers will be 1.05 billion yuan.70%equity of Dongyang Meila.Since then, Huayi Brothers hold 70%of the shares in Dongyang Meira, and Feng Xiaogang holds 30%of the shares.
China Securities Journal reported that this is an important step for Huayi brothers to repay the 700 million yuan debt of Ali Pictures.In early 2019, Ali Pictures provided a 700 million yuan borrowing to Huayi Brothers with a term of five years.
However, the performance of Huayi brothers in the past five years has continued to lose money.From 2018 to 2023, Huayi Brothers' revenue fell from 3.814 billion yuan to less than 700 million yuan.Among them, in 2018, the loss was 1.169 billion yuan, and the losses in 2019 further expanded to 3.978 billion yuan. Although the amount of losses narrowed in the following years, it still showed a trend of continuous losses as a whole.
The loan repayment period was urgent. At the end of last year, the Huayi Brothers opened the debt of assets to Ali Films.
In November last year, Huayi Brothers announced that Huayi Entertainment Investment, a all -funded subsidiary, was a actual business needs.The total debt, the equity of the target, and the debt transfer price of the entertainment investment in the entertainment investment total 350 million yuan.Zhonglian's prosperity is an indirect wholly -owned subsidiary of Ali Pictures.Jiali Culture is the all -funded company of Huayi Brothers.
