Wang Zhongjun pledged Huayi Brothers 52 million shares

NetEase Financial April 18 News of Huayi Brothers announced today that the company's shareholders Wang Zhongjun will hold its Huayi Brothers limited sales of 52 million shares (based on the addition of the right to the calculation) pledged to the Bohai International Trust Co.　　The pledged shares accounted for Wang Zhongjun holding 32.9% of the total shares of the company, accounting for 8.6% of the company's total equity. According to the April 15 Huayi Brothers disclosed a quarterly data, the company net profit of 263%, big culture, entertainment strategic layout has begun to bear fruit.　　In the quarterly, in addition to Huayi's films, TV dramas and artists brokerage main business of the bright eye performance, its new business music, cinemas, games and other business receipts amounted to 22.1756 million yuan, for the company's performance has made a certain contribution. The Galaxy Securities Release research Report, said Huayi Brothers released 1 quarterly, 2011q1 respectively realized operating income, total profit and net profit of 167.39 million yuan, 49.44 million yuan and 38.06 million yuan, the year-on-year growth of 67.2%, 274% and 304%, to achieve EPS0.06 yuan (according to the recent equity calculation),　　Slightly higher than expected, mainly the company increased 5.6 million investment income and non-operating income. Galaxy Securities that the movie box office growth to boost the company's performance growth, 2011 is the TV series "Year" and the film "The Year", diversified development results. Taking into account the non-recurrent income, a slight increase of the company 2011-2012eps to 0.37 Yuan and 0.48 yuan, corresponding to the current stock price of PE 40X and 30X, according to the company's long-term growth compound growth rate of 40% and peg=1 calculation, that the current stock prices are basically at a reasonable level, maintain a "prudent recommendation" Investment rating. Responsible Editor: NF058