The first Chinese TV drama will rival the Huayi Brothers

The issue price is about 54.75 yuan/share two screenwriter shareholder is expected to exceed tens of millions of commercial newspaper reporter Limbe "TV series first" Zhejiang Huayi Film and Television Co., Ltd. yesterday successfully passed the China Securities Regulatory Commission Gem Board audit.　　Some researchers said that if the current gem of the new board of 50 times times the issuance of P/E, China Strategy film and television distribution price can reach 54.75 yuan. Rival is Huayi Brothers Huayi Film's main business for the production, distribution and derivative business of film and television dramas. TV series business is located in the first echelon of the TV industry private enterprises, is the TV industry in Zhejiang Province private enterprises leading.　　Huayi Film has now formed an annual output of about 300 TV series production scale.　　According to the relevant data shows that 2009 nationwide completed and obtained domestic TV dramas and co-production of the Repertoire issued a total of 414 13,294 episodes, huayi film as production units produced by the production of domestic and co-production 6 249 episodes, market share by the number of sets and the number of departments are located in the second part of the private production institutions.　　However, some people in the industry said that because of the large number of TV series market production, TV series market concentration is low, including Huayi film and television, a few of the private TV drama production companies, accounted for less than 10% of the total market share. Huayi Brothers (300027) is the company's main competitor in the film and television industry, according to the prospectus.　　But unlike Huayi Brothers, the business of Huayi is focused on television.　　China strategy film and television production of major TV dramas, including entertainment without a circle, "Every Night Like a dream", "just want to rely on you", "Love of the Qingcheng", "You will never Walk Alone", "Fearless Zhong Kui", "My Love Bread", "China Past" and other annual production of TV series of 300 sets.　　By the end of last year, the total assets of Huayi film were 240 million yuan, with a liability of 58.9614 million yuan, which belonged to the parent company's owner's equity of 181 million yuan. China policy film and television last year to achieve operating income of 166 million yuan, net profit of 55.4226 million yuan.　　Before the release, the company's net assets per share of 4.28 yuan, the basic earnings per share of 1.46 yuan. The two-star screenwriter shareholder, Huayi, has proposed to issue 14.12 million new shares, accounting for 25% of total equity after issuance.　　After the release, the total share capital of China strategy film and television will increase to 56.48 million shares. The company said that the acquisition of funds will be invested in supplementary film and television drama business operating capital projects, the project needs 320 million yuan.　　After the collection of funds in place, by 2012, the company's annual Toupai TV series will reach 20 600 episodes, the annual Toupai film will reach 3-4 department. At present, the actual control of Huayi film and television Fumai, Zhai Fang couples. Among them, Fumai as a controlling shareholder, directly holding the China policy film 47.57%, but also by holding a large investment in 89.46% of the equity indirect holding of Huayi film 33.99%.　　In other words, Fumai direct and indirect total holdings of 81.56% of China's film ownership. AccordingChina strategy Film and television prospectus Declaration, Zhai Fang as the general manager of China policy is mainly responsible for the company's specific business management. Compared with the Huayi Brothers, which owns all the star shareholders, there are only two writers--Shing and Liu Guanjun, who are familiar with the top ten shareholders of Hua Yi film. Shing has written "Kangxi Incognito", "Iron teeth copper Teeth ji Xiaolan", "Love of the Qingcheng" and so on. Liu Champion's main works include the novel "Fuxi Fuxi"? The hole adapted for the film "Chrysanthemum Beans"? Snow, "The Tears lawsuit" and "Assembly No." According to media reports, Liu Heng and Shing have signed an indefinite strategic cooperation agreement with China policy: Liu Heng and Shing respectively as the director of China's film and television business planning, director of the system, Liu Heng, Shing project under the same conditions, Huayi Film and television enjoys the right to invest, the two sides approved the conditions, China strategy film and television priority for Liu Heng,　　Shing planning to create film and television scripts.　　February 2009, Shing and Liu Heng respectively by let Fumai transfer 147,100 shares of China policy film and television shares, the amount of capital is 500,000 yuan, is now equivalent to Huayi 211,824 shares. Some researchers said that Huayi brothers issued a 69.71 times-fold price/earnings ratio at the time, but the recent stage of the market and new shares are not satisfactory performance, so the valuation of the Chinese film will be reduced.　　According to the recent gem IPO 50 times times the issuance of the price-earnings ratio to calculate, China policy film and television distribution of about 54.75 yuan. If this calculation, Huayi film and television can raise a capital of 773 million yuan, Shing and Liu Heng's shareholding will reach 11.5961 million yuan, investment income more than 23 times times. Liu Heng and Shing also became the second writer, after Yu Qiuyu bought the original shares of Shanghai Xujiahui Shopping Center profits, a case of wealth-making through the stock market. and the actual control of Chinese film Fumai's shareholding market value is as high as 1.891 billion yuan.