AI Cheng interview Liu Hongtao: Happy twist market is blocked, are you anxious or anxious?


At the beginning of 2017, the happy news of the new three board " star " company announced the happy news of the proposed IPO, and then regretfully suspended the application in August, on the grounds of “the departure of the signature lawyer”. Behind the obstruction of IPO’s road, the net profit of happy half year has also declined, which makes it not easy for happy twist to “happy” landing on A shares. Although the figures on the books do not seem good, this does not hinder the determination of happy twist to go public.

In September 28, 2017, happy Ma Hua finally changed the resigned lawyer and disclosed the notice of the review of the CSRC’s administrative licensing application recovery review, and agreed to resume the company’s application for the first public issuance of A shares and the review of the gem listing.

So, will this happy spike rush to the market and succeed? Is the present pressure of happy twist is not big? As president of happy twist, Liu Hongtao’s anxiety is not anxious? Ask the question to ask Liu Hongtao.

AI asked Liu Hongtao: “shame iron fist” can help happy twist?

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Is there a bubble in the valuation of happy twist?

Alcheng: with the 2015 “Sherlock annoyance” more than 1 billion 400 million box office, I found that happy twist quickly landed on the new three boards, and then this year will be from the plan from the new board to the board, three years of time valuation from 300 million now to about 5000000000, then you are not a bubble itself?

Liu Hongtao: Yes, what do you think about this? At the time of three hundred million, our company’s profit was almost 15 million, after tax profit, so 20 times the value of three hundred million.

AI Cheng: what we learn is valuation. There is a way of calculating, which is multiplied by 20 times of your profit.

Liu Hongtao: so this time 5 billion is in accordance with our 2015, 2015 by the end of our financial investment, 2015 after tax profit is 130 million, about 30 times, we feel that the company still has a number of more possibilities.

AI: so we are actually not a bubble at all, and it is not even expensive.

Liu Hongtao: Yes.

AI Cheng interview Liu Hongtao: Happy twist market is blocked, are you anxious or anxious?

Is the profit of happy twist in a sudden drop?

Ai Cheng: before I visited you, I had a chat with a friend of the investment circle. A very striking Title caused my attention. The title is called “the profit plunge, the capital of happy twist is quickly questioned”. What does it mean?

Liu Hongtao: we noticed, yes, because last year, our profits and profits after tax decreased compared with the year before, they said 40%.

We don’t really care about this. It’s Zhang Chen that we don’t think about how much we have to do this year, and then we don’t think about it at the right time. We two think every day, will this work be all right? Can the audience like it? Can our team create something better? This is what we care most about, so I believe that we are just in the stage of refueling at the moment.

Ai Cheng: the previous year you said is a bit more, 130 million of the profit, last year is about 70000000 profit, appeared 45% decline, but still compared to the beginning of the 15 million profit, is also a huge growth, the problem is where the profit from? Where did the profit lose? How did the growth of happy twist grow over the years? Profit, income.

Liu Hongtao: Yes, we have been growing very fast all these years, because the film is for us, in fact, in the early days we treated it as an increment, our most important business or stage performance, the stage performance from the 2012, for example, our performance may be three hundred or four hundred. You see, from the three hundred or four hundred games to 1600 games last year, this is almost four times the growth, and there are also some increases in profits. Actually speaking from our company, performance has always been one of our most basic things, basic business.

Ai Cheng: a sound source of income?

Liu Hongtao: Yes, the most basic business.

AI Cheng interview Liu Hongtao: Happy twist market is blocked, are you anxious or anxious?

Profit decline, IPO difficult?

Ai Cheng: now what is the proportion of drama and movies that contribute to happy twist?

Liu Hongtao: in 2015, the profit after tax of our drama was 40 million, and the movie was about 90000000, so there were more movies and fewer last year. Last year, the movie was 10 million after tax profit, more than 1000, and then the drama was almost 6000, right.

Ai Cheng: but in last year’s profit of 45% decline, according to the requirements of the SFC, if you turn from the new board to the motherboard, the gem is to demand the basic side of the company industry, can not have some adverse changes, which is not calculated, will not affect the progress of your listing.

Liu Hongtao: I still have this year. I still have next year, right?

AI Cheng: so the pressure this year should not be too small.

Liu Hongtao: no pressure, really no pressure, right, that’s the way, what I really really sick about is, if the right way to say the future is this way, and then we go this way, this is my bad thing, we must look at the next ten years after five years.

AI Cheng interview Liu Hongtao: Happy twist market is blocked, are you anxious or anxious?

What does the capital market do to you?

Ai Cheng: but if you are realistic in the capital market, demanding speed and asking for repayment, how can you balance this contradiction?

Liu Hongtao: I still say we, in fact, stock investors, investors buy an enterprise, I think he should see the future of this enterprise, not look at the present. If I do my best job now, then three years later, the enterprise will be weak.

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