However, Guangwei Wenhua Company, which has been operating Impression Liu Sanjie for more than ten years, applied for bankruptcy and reorganization to the Higher People's Court of Guangxi Zhuang Autonomous Region (hereinafter referred to as "Guangxi High Court") on August 17 due to its serious insolvency. On February 4th, 65438, Guangxi Higher People's Court made a final ruling and approved the draft company reorganization plan. After the implementation of the reorganization plan, Beijing Tianchuang Wentou Performing Arts Co., Ltd. will hold 0/00% equity of Guangwei Wenhua/KLOC.
The performance of Impression of Third Sister Liu is enduring. Guangwei Wenhua has been a big taxpayer in Yangshuo County since 2006. Why did this seemingly healthy company go bankrupt because of huge debts? This shocked the outside world. What is the current situation of the influential cultural and creative brand "Impression Liu Sanjie" in China, and how will it be reborn?
Every film and television reporter recently walked into the Guangxi High Court, had an exclusive conversation with Jiang Tairen, the president of the Second People's Court of Guangxi High Court and the presiding judge of this case, and went to Yangshuo County, Guangxi to investigate Guangwei Wenhua on the spot, unveiling the scene of the bankruptcy reorganization of "Impression Liu Sanjie".
Bankruptcy: The company's valuation is 65.438+0.7 billion yuan, but the debt is as high as 65.438+0.58 billion yuan.
The performance of Impression Sanjie Liu can be described as infinite scenery, but Guangwei Wenhua Company, which runs the project, has long been hollowed out and is heavily in debt. When Guangwei Wenhua applied to Guangxi High Court for bankruptcy and reorganization on August 5, 20 17, he claimed that the accumulated actual debt was nearly1500 million yuan.
Jiang Tairen, the president of the Second People's Court of Guangxi Higher People's Court and the presiding judge of this case, told every reporter: "Before Guang Wei Wenhua filed an application for bankruptcy reorganization, he was already the defendant or the executor of dozens of civil and enforcement cases. Before the High Court took over, all the company's property was seized by many courts outside the province and in the region, and some cases have entered the execution procedure, and the company is on the verge of being split. "
Considering the profound influence of the brand "Impression Liu Sanjie" operated by Guangwei Wenhua on Guilin tourism, in order to protect the business card of Guangxi tourism, Guangxi High Court decided to save the enterprise through bankruptcy reorganization rather than bankruptcy liquidation.
Jiangnan, head of Guangwei Wenhua's bankruptcy reorganization manager, told every reporter, "By the end of the bankruptcy reorganization procedure on February 4, 2007, the total amount of claims declared in this case was 2.69 billion yuan, and the total amount of claims confirmed by the manager was1.58 billion yuan. In addition, there are still 300 million claims to be confirmed by the arbitration organ, which are pending claims. "
Every time a film and television reporter passed the civil ruling issued by Guangxi High Court on February 4, 17, it was found that as of August 30, 20 17, the total audited assets of Guangwei Wenhua were1600,000 yuan. 20 17 17126 shows that the total value of fixed assets, inventory, land use rights and "Impression Liu Sanjie" series trademarks of Guangwei Wenhua is 654.38+74 million yuan.
The assets with an estimated value of 65.438+0.74 billion yuan can't fill the huge debt hole of 65.438+0.58 billion yuan even if they are all auctioned at the ideal price. "In this case, there is only one means of justice, which is asset reorganization." Jiang Tairen told every film reporter that after the High Court announced the acceptance of bankruptcy and reorganization, all lawsuits and execution procedures of Guangwei Wenhua were suspended according to law. "This is equivalent to building a' protective wall' for the company and' stopping bleeding' for the company. Then, let new investors come in and the company can make blood by itself and continue to develop. "
In the end, Beijing Tianchuang Wentou Performing Arts Co., Ltd. (hereinafter referred to as "Tianchuang Wentou") comprehensively considered the financial strength, similar project management and operation experience, ability to cope with complex situations, no bad record and other factors, and decided to be the winning bidder for this restructuring investment. Tianchuang Wentou, a state-owned company, promised to contribute 750 million yuan to solve debt settlement and other social problems deemed necessary by the court.
20 18 1.4, every time interviewed by film and television reporters in Guangxi High Court, it happened that the second creditors' meeting was held in this case. Jiang Tairen told every film and television reporter: "The first sum of more than one billion yuan has been put in place and we distributed it at the creditors' meeting. "
According to every film and television reporter, after the implementation of this restructuring plan, the proportion of shareholders and equity of Guangwei Wentou will be changed to Tianchuang Wentou Holdings 100%. Guangxi Vinylon Group Co., Ltd. (hereinafter referred to as "Guangwei Group") and Guangxi Wenhua Art Co., Ltd. (hereinafter referred to as "Guangxi Wenhua"), the original shareholders of Guangwei Wenhua, transferred their 0/00% shares of the company/kloc-to the reorganizer at zero price.
Celebrity creditors: Zhang Yimou and Ma Yun [Weibo] indirectly hold the creditor's rights of Guan Yinxiang of 4401.6 million yuan.
Guangwei Wenhua's debt of 65.438+0.58 billion yuan involves 20 subjects. Jiangnan, the person in charge of the bankruptcy reorganization manager, told every film and television reporter: "The debts are paid in order and proportion according to the categories. The largest creditor of Guangwei Wenhua is Liuzhou Bank, and the total amount of creditor's rights approved is 848 million yuan, which is a secured creditor's right. The compensation amount * * * is 4. 1 1 100 million yuan, and the total repayment rate is 48.40%. "
Every time a film and television reporter sees on Guangwei Wenhua's creditor list, Guan Impression Art Development Co., Ltd. (hereinafter referred to as "Guan Impression") is also one of the creditors, and Guan Impression is a company indirectly held by Zhang Yimou and Ma Yun's Yunfeng Fund. Zhang Yimou indirectly holds 25% equity of Guanyin to the investment center (limited partnership) through Shanghai Guanyin, and Yunfeng Fund indirectly holds 50% equity of Guanyin. Sanxiang Impression (000863, formerly known as "Sanxiang Shares") completed the acquisition of 0/00% equity of Guanyin/Kloc-0 in May, 20/6, and the transaction price was1900 million yuan.
According to the debt of Guangwei Wenhua confirmed by the manager, as of July 3 1 2,065,438, Guangwei Wenhua owed an impression of 44162,600 yuan, including 40.977 million yuan for planning, 233,000 yuan for maintenance and 2.952 million yuan for interest, which belongs to * * *. Li Na, the judge of this case, told every reporter: "The debt of * * * will be paid off in full in the debtor's property and will not be affected."
However, Guan Impression lost a lot of gains in Guangwei Wenhua's long-term equity investment. Before the bankruptcy reorganization, Guangwei Wenhua shareholder Guangwei Group held 67% of the shares, and another shareholder, Guangxi Wenhua, held 33%. In 20 16, Guan Impression acquired 45% equity of Guangxi Wenhua through transfer and judicial auction, and the total acquisition cost was 47170,000 yuan. Therefore, Guan Impression indirectly holds the equity of Guangwei Wenhua 14.85%.
Due to the bankruptcy and reorganization of Guangwei Wenhua, the original shareholders transferred their shares to the reorganizer Tianchuang Wentou at zero price, so the recoverable amount of Guangxi Wenhua's investment in Guangwei Wenhua in 20 17 was zero. Sanxiang Impression said that the loss of Guangxi Wenhua's long-term equity investment caused by the corresponding concept impression was 4,765,438+0,654,38+0,000 yuan, and it was preliminarily estimated that the impact of bankruptcy reorganization on the net profit of Sanxiang Impression's consolidated financial statements in 2065,438+07 was-4,765,438+0,000 yuan. Yu Xu, the director of Sanxiang Impression, said in an interview with every film and television reporter: "In the future, this part of the equity investment income will be gone."
Guanyin made a performance promise when it was acquired by Sanxiang Impression, and the net profit returned to her mother before and after deducting non-recurring gains and losses in 20 17 was not less than160 million yuan. In the first half of 20 17, the net profit of Guanyin was 473 1 10,000 yuan. Whether the performance commitment can be fulfilled depends on the operation in the second half of the year, but the loss of the above equity investment will put some pressure on the company.