Text / Seven Gong
Producer / Node Finance
On the evening of October 24, Light Media (300251. SZ) released the third quarter performance report, showing that its revenue in the first three quarters was 978 million yuan, an increase of 103.41% year-on-year; the net profit attributable to the mother was 553 million yuan, an increase of 767.66% year-on-year; and the net profit attributable to the mother after deducting non-deduction was 465 million yuan, an increase of 2779.61% year-on-year.
However, in a single quarter, the performance of Light Media Q3 was not as good as in the first half of the year, with a single quarter revenue of 223 million yuan, an increase of only 0.55% year-on-year, and a net profit of 68.3138 million yuan, an increase of 58.32% year-on-year. After deducting non-recurring gains and losses, the company's net profit decreased significantly by 72.92% to 7.9451 million yuan.
Perhaps affected by performance, during the reporting period, Hongde Vision Return Hybrid Securities Investment Fund and Hongde Zhenyuan Return Flexible Allocation Hybrid Securities Investment Fund both reduced their shares in Guangguang Media.
It is worth noting that in the past two years, more than 80% of the revenue of Light Media has come from the film and derivatives business. In other words, the number of films and box office during the period will directly affect their performance level.
In the third quarter, Light Media only released one movie, "Revolutionary", which grossed 136 million yuan as of July 31, far less than expected.
In addition, the film market is slowly picking up, And Maoyan film data shows that the box office of the Q3 film market in 2021 is 6.650 billion (excluding service fees), and the number of moviegoers is 196 million, a decrease of 57.30% and 58.74% respectively over the same period in 2019; as well as the outbreak of the epidemic in Nanjing and other local areas, henan heavy rainstorms, etc., which have caused certain difficulties to the normal operation of theaters and the normal viewing of movies by audiences.
The superposition of multiple factors led to a significant contraction in the profit of the main business of Light Media in the third quarter. Looking forward to the fourth quarter, Light Media has mixed feelings.
At present, the company's main investment, main control, betting on the National Day file of the youth film "Five Splashing Teenagers" is not popular, although the Douban score is 7.4, but as of October 27, the cumulative box office revenue is only 62.3649 million yuan, and the follow-up up up films include "Rock Solid" directed by Zhang Yimou, directed by Dai Mo and produced by Chen Sicheng, all of which have a certain box office appeal, and whether it can be overturned is worth observing.
However, as the industry's leading film production company, Light Media reserves resources are rich and diverse, dozens of films are in different production cycles, and 20 or 30 animated films are planned, and it is expected to continue to contribute revenue in the future.
Node Finance Statement: The content of the article is for reference only, the information in the article or the opinions expressed do not constitute any investment advice, and Node Finance does not assume any responsibility for any action taken as a result of using this article.