Original Title: Performance commitment Wanda film extended for 4 years, the total profit increased to around 4 billion commitment
The News & # 39; Beijing (Rapporteur Zhang Xiaolan) In the evening of 26 & # 39; November, Wanda Films announced the "Issue & # 39; Share to Buy Assets and Related Transactions Report (Revised Draft)", and an updated version of the letter & # 39; reply was published by & # 39; parallel with the revised draft.
According to the industry, from details & # 39; this announcement, in addition to the reduction in the target asset purchase price announced previously, the controlling shareholder Wanda Investment changed to adopt the method to pay the issue price, limit & # 39; net profit amounted to 3994 billion yuan time, it was & # 39; 766 million more commitment & # 39; profit plan & # 39; previous transaction, which showed b & # 39; complete way shareholders optimism that control the long-term viability of the company and sincerity.
The transaction price was reduced by nearly 8.33%
Since the 5 & # 39; in November, the announcement of & # 39; Wanda Movies showed several adjustments to the & # 39; restructuring plan, and today the company announced more details.
The revised draft of the draft & # 39; reorganization shows that by 31 & # 39; July 2018, the value of book equity of 100% equity owner & # 39; Wanda Films was & # 39; 5161 billion yuan, b & # 39; estimated value & # 39; 11003 billion yuan. The transaction price was determined to be 10.651 billion yuan through & # 39; amicable negotiations between the parties to the transaction, which was reduced by almost 8.33% from the previous transaction price of & # 39; 11.619 billion yuan.
At the same time, according to forecasts & # 39; Wanda Film and Television in 2019, the net profit is & # 39; about 888 million yuan, and forecast 2019 price earnings ratio corresponding to the price of & # 39; & # 39 equity; 100% & # 39; Wanda Films is 12.39 times lower than the ratio of earnings. Wanda Cinema said that people from buying & # 39; assets & # 39; low quality low price is & # 39; benefit to fully protect the interests of small shareholders and & # 39; sized enterprises and bring more profitability to the company.
Currently, the film business & # 39; Wanda covering investment, production and distribution of & # 39; movies and TV drama, as well as operations and online distribution of games. By & # 39; this transaction, in addition to the entry of the existing display, advertising revenues, goods and turnover of catering, Wanda Movies add more income from filmiku investment, drama investment TV, game distribution and other aspects.
The commitment & # 39; performance increased to about 4 billion
Of & # 39; noted that the period & # 39; the restructuring performance engagement in & # 39; this program was increased to 4 years. Investment Wanda promised that the net profit of & # 39; Wanda Films in 2018, 2019, 2020 and 2021 no less than 763 million yuan and 888 million yuan respectively. 10.69 billion yuan, 1274 billion yuan, long & # 39; & # 39 engagement; performance led to greater investor protection.
In addition, the total net profit made in & # 39; this commitment for four & # 39; year rose to 3.994 billion yuan, an increase of & # 39; 766 million yuan of net profit promised in & # 39; in June, accounting for over 37% of assessing target transaction. In the opinion of the industry, fully shows that the controlling shareholder is optimistic about the future development of & # 39; Wanda Films. The injection of & # 39; drama TV and gaming assets can & # 39; also reflects variations in the performance of films under the existing model, which will help to strengthen the profitability and the company's sustainable development.
Of & # 39; noted that, in addition, this plan & # 39; transaction increased the period & # 39; lock-up of shares and the price of the secondary stock market and platform county shares as the key personnel of the film sector and the Wanda Group participated in the television compensation of commitment and performance regulations locked in & # 39; three years. To increase the stability of personnel management film and television & # 39; Wanda.
According to the announcement, Wanda Movies achieved operating income & # 39; 10.905 billion yuan from January to September 2018, an increase of & # 39; 7.06% on year. In the first three quarters, earned cumulative box office & # 39; 7.54 billion yuan, an increase of & # 39; year b & # 39; 15.6% on the cumulative number of & # 39; 182 million visitors movies, increasing year by & # 39; & # 39 rate; 17.2%.
News Report & # 39; Beijing Yuan Xiuli Zhang Xiaolan Editor Proofreading Wu Xingfa