European Cup postponed due to epidemic situation

European Cup postponed due to epidemic situation
The New Coronary Pneumonia epidemic is spreading globally. Affected by this, the European Cup in 2020 decided to postpone the event.The sports industry under the impact of the epidemic has been hit hard, and the listed company Contemporary Mingcheng is also getting worse-its subsidiaries own the UEFA national team series of events from January 1, 2018 to November 30, 2022 (including the European Cup 2020Main competition and qualifiers, 2022 World Cup European qualifiers, etc.) New media exclusive rights and global sponsor rights (including sponsorship rights and copyrights).Profitability was hit, and Contemporary Mingcheng still borrows money.On March 17, Modern Mingcheng applied for a loan of 300 million yuan from Northern Trust with a pledge of equity.Affected by the epidemic, the profitability of the subsidiary New England Cayman or the spread of the innovative coronary pneumonia epidemic has spread globally. On March 12, the 2018-2019 season created about 8 billion US dollars. The NBA announced a lockout.It was also hit by the epidemic, or it could not gather normally.On March 17, the European Football Association Federation (hereinafter referred to as “UEFA”) met with 55 association members, the European Football Club Union and other association congresses. The meeting decided that the 2020 European Cup will be extended to 2021, and the estimated time isFrom June 11 to July 11, 2021, the official announcement time is yet to be determined.Due to the holding subsidiary Super Sports Media Inc.(Hereinafter referred to as “New England Cayman”) has a series of UEFA national team events from January 1, 2018 to November 30, 2022 (including the 2020 European Cup main game and qualifiers, 2022 World Cup European qualifiersEtc.) the exclusive rights of new media and the rights and interests of global sponsors (including sponsorship rights and copyrights), so the postponement of the European Cup in 2020 will affect the operation of New Ink Cayman in 2020.On August 31, 2018, Contemporary Mingcheng offered a price of 34.1.2 billion cash acquired 100% equity of New Ink Cayman, forming 23.Goodwill of 6.3 billion.From August 31, 2018 to December 31, 2018, New England Cayman generated revenue of 5.9.3 billion, net profit 3.2.1 billion yuan.After the acquisition of Xinying Cayman, Contemporary Mingcheng and iQiyi started an in-depth cooperation.With a premium of nearly US $ 2.4 billion, the acquisition of Xinying Cayman, Contemporary Mingcheng faced breakthrough financial pressure. In December 2019, Contemporary Mingcheng issued 97436437 shares to the Contemporary Group, Li Jianguang, Yu Lingxiao and Li Hongxin.The capital budget is 8.US $ 2.6 billion, all used to invest in the acquisition of equity in New Ink Cayman.Due to the impact of the epidemic, the performance of Xinying Sports is subject to change, and the goodwill of Gao Xuan may further consume the net profit of Contemporary Mingcheng.Goodwill is high, and the impact of the epidemic has a greater impact. Since its transformation in 2014, Contemporary Mingcheng has been walking on two legs in sports and film and television.In 2015, Contemporary Mingcheng offered a price6.500 million shares acquired 100% equity of Qianshi Media and cut into the film and television industry.As the founder of Qianshi Media, You Jianming became a contemporary Mingcheng shareholder.You Jianming ‘s commitment to achievements and performance compensation obligations undertaken by Contemporary MingchengThe profit shall be no less than 4743.770,000 yuan, 6392.560 thousand yuan, 8164.100,000 yuan, 10123.150,000 yuan; the company’s actual net profit in 2014, 2015, 2016 and 2017 was 4957.470,000 yuan, 6770.930,000 yuan, 9685.420,000 yuan, 11,915.440,000 yuan; You Jianming has completed the agreed performance commitment.The 2018 annual report shows that as of December 31, 2018, due to the acquisition of Strong Vision Media, the contemporary Mingcheng account surface has formed 3.4 billion goodwill has not yet been accrued.In addition to the large-scale acquisition of Xinying Cayman, the extension of mergers and acquisitions caused Modern Mingcheng to terminate the goodwill balance of 33 on September 30, 2019.5.6 billion yuan, accounting for 30 of total assets.20%.From 2015 to the third quarter of 2019, Modern Mingcheng achieved a net profit of 9%.4.8 billion yuan.The difference between the realized profit and the goodwill formed by mergers and acquisitions is very obvious. Contemporary Mingcheng’s profitability is not too high, but the “spend money” is very generous.Since February 2015, Contemporary Mingcheng has raised funds through directional issuance and issuance of corporate bonds40.USD 8.5 billion. As of September 30, 2019, the balance of Modern Mingcheng ‘s short-term debt was 13.5 billion yuan, a long-term loan surplus of 12.24ppm, non-current debt due within one year is 3.22 trillion, within a year, the number of loans that Modern Mingcheng needs to repay is only 16.More than 7.2 billion US dollars, as of September 30, 2019, the only balance of contemporary Mingcheng’s book funds.3.6 billion, short-term liquidity will be under certain pressure.On March 17, Modern Mingcheng borrowed money again. The announcement showed that Modern Mingcheng planned to merge the Trust Fund Expenditure Contract with Northern International Trust Co., Ltd. The amount of expenditure under the contract was RMB 300 million (the actual amount allocated wasQuasi), the company pledged the above-mentioned reproduction with all the equity it holds in Beijing Contemporary Time Media Co., Ltd.Sauna, Ye Wang Zhang Yanbian editor Wang Jinyu proofreading Liu Baoqing