Is Bona Film Worth Subscription?

it is worth purchasing. First, bonus items: the issue price is 5.3 yuan, and the issue price-earnings ratio is 22.99 times. The issue price is very low, which is very attractive. Second, extra points: the performance is so-so, and the performance in the first three quarters is pre-increased. The company's earnings per share since 219 are: .29 yuan; .17 yuan; .33 yuan. Earnings per share in the first quarter of this year was .21 yuan. It is estimated that the performance will increase in advance from January to September in 222. The net profit attributable to it is about 147 million yuan to 237.3 million yuan, up by 1.6% to 223.% year-on-year. The operating income is about 2.154 billion yuan to 2.279 billion yuan, up by 56.41% to 65.51% year-on-year, and the non-net profit is about 63.22 million yuan to 153.5 million yuan, up year-on-year. Third, bonus items: head enterprises with rich products. The company is the first private enterprise engaged in film distribution business in China, and its main business includes film investment, distribution, cinema and cinema business. The company has produced more than 25 films, 1 of which have grossed more than 1 billion yuan, with a total box office of more than 4 billion yuan. In recent years, the company has made outstanding achievements in the field of movies, and has produced The Battle at Lake Changjin's Watergate Bridge of Changjin Lake, The Captain's Heroes of Fire, My People，My Country Operation Red Sea and other main melody films. In 222, Bona Film also has new films to be released, such as Unknown, Ordinary Hero and Grassland at the End of the Sea. Fourth, the shareholder lineup is luxurious. In December 216, Bona Film raised 2.5 billion yuan, and introduced many famous institutions including Alibaba Pictures, Tencent, CITIC Securities, CDB Finance, Zhongzhi Enterprise Group, CMB International, Industrial and Commercial Bank of China and Xinhualian Group. In March 217, Bona Film raised another 1 billion yuan, introducing shareholders such as WANDA CINEMAS, Zhang Hanyu, Huang Xiaoming, Zhang Ziyi, Chen Baoguo, Han Han, Huang Jianxin and Mao Jun Jie. Fifth, plus points: the layout of the whole industrial chain. Investment, distribution, cinema and cinema are the four major sectors of the company's current layout. From the perspective of revenue composition, from 217 to 219, the income brought by investment and distribution to the company was relatively stable, accounting for about 3%, and the income of cinemas increased year by year, which was also the sector with the largest proportion of the company's revenue. In the future business layout, the company intends to increase investment in cinema business. Sixth, the industry is expected to recover in the second half of the year. Top data shows that the total box office of mainland movies in the first half of 222 was 17.18 billion, down 37.68% year-on-year, a sharp drop of 1.39 billion compared with 221, a record low of nearly eight years. Against the background of the escalation of epidemic situation in many places and the large-scale suspension of cinemas, the number of screenings showed a historic negative growth for the first time, down 2.17% year-on-year. The supply of head content is seriously insufficient, and the number of people watching movies decreased by 41.66% year-on-year. Especially from March to May, the market suffered an unprecedented dark moment in the past 1 years except 22. In June 222, the national box office totaled 1.92 billion yuan, which was 9% higher than the 2.13 billion yuan in the same period in 221, and stopped the sluggish performance that the box office did not break 1 billion yuan for three consecutive months. According to Lighthouse Professional Edition, as of 19: 4 on July 29th, the national box office (including pre-sale) has exceeded 2.8 billion yuan in July, and the total number of tickets issued has reached 72,29,9 with 1,76,2 screenings. Seventh, reduce the sub-item: the gross profit margin declines. Judging from the gross profit performance of various business segments, as a heavy asset project, the gross profit margin of cinemas is generally around 2%, and the gross profit margin from distribution business was once close to 95%. With the construction of more cinemas, the gross profit of the company from cinema business has been declining year by year. Eighth, comprehensive evaluation: the release of Bona Film attracted cheers from the film and television industry. People saw the signal of policy encouragement from the release of Bona Film, and also felt the breath of industry recovery. The biggest feature of the company is that, unlike other film and television pure content companies, the company has cinemas, cinemas, investment and distribution. This model has strong stability and can ensure the maximum gross profit of the most films. Some people say that Bona Film wins in the main melody, and the company always has two brushes to survive and develop. As an investor, no matter what, the company can make money. In view of the fact that the company is the head enterprise in the industry and has made great achievements in the main theme, there are often explosive works coming out, and it is currently at the bottom of the industry, plus it is still a non-registered stock. Therefore, there is no risk of breaking on the first day of listing, and it will continue to limit.