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    002739   CNE100001WW1

WANDA FILM HOLDING CO., LTD.

(002739)
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Wanda Film : China's Wanda Film warn a loss

07/14/2020 | 07:33am EDT

BEIJING, July 14 (Reuters) - China's largest cinema chain operator Wanda Film said on Tuesday it expects to report a net loss of 1.5 to 1.6 billion yuan (214 to 228 million dollars) in the first half of this year, after the coronavirus kept its cinemas shut for almost the entire period.

In comparison, the company reported a net profit of 524 million yuan (75 million dollars) in the same period last year.

China asked cinemas across the country to shut down in late January to curb the spread of the novel coronavirus. While the pandemic is seen to be mostly under control in China they have remained shut, for much longer than many people had expected.

"All the more than 600 cinemas of Wanda Film in China have been closed since Jan. 23, and the ones overseas also suspended business after the end of March," Wanda Film said in the statement.

Detective Chinatown 3, a film whose top investor is Wanda Film, was originally scheduled to be shown in cinemas in January during the Lunar New Year. However it has yet to be released due to the shutdowns.

Meanwhile, the production of some of its other films has also been delayed.

"Operating income dropped by a big margin compared with the same period last year," the company said, blaming fixed costs such as salaries and rent.

China is the second-largest film market in the world, after the United States. China's box office took in a record 64.3 billion yuan in 2019, up 5.4% on the year.

(Reporting by Sophie Yu, Brenda Goh; editing by Louise Heavens)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.35% 6.4717 Delayed Quote.-0.36%
WANDA FILM HOLDING CO., LTD. 0.61% 14.91 End-of-day quote.-17.53%
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Financials
Sales 2021 13 904 M 2 150 M 2 150 M
Net income 2021 1 253 M 194 M 194 M
Net Debt 2021 66,3 M 10,3 M 10,3 M
P/E ratio 2021 25,6x
Yield 2021 0,85%
Capitalization 33 260 M 5 144 M 5 144 M
EV / Sales 2021 2,40x
EV / Sales 2022 1,49x
Nbr of Employees 11 561
Free-Float 42,6%
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Wanda Film Holding Co., Ltd. Technical Analysis Chart | 002739 | CNE100001WW1 | MarketScreener
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Mean consensus BUY
Number of Analysts 10
Last Close Price 14,91 CNY
Average target price 20,02 CNY
Spread / Average Target 34,3%
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Managers and Directors
Xiao Bin Liu Chief Executive Officer & Director
Mao Jun Zeng President & Director
Shuo Huang Chief Financial Officer & Vice President
Lincoln Zhang Chairman
Chen Zhang Chairman-Supervisory Board