Tencent accused three years don’t depend on money

reporter: Yang now China

your hand billions in cash, but always cannot repay the nearly $80 million payment owed to huayi brothers, tencent is not only the shareholders, huayi is huayi debtor, but the well-funded tencent has always have the money.

late August 14, huayi brothers disclosed the company 2013 annual report, company between January and June to achieve net profit of 403 million yuan, up 282.06% from a year earlier. Unlike gratifying results, however, the company accounts receivable increase nearly 50% to 699 million yuan, the company’s fourth largest shareholders of tencent is close to the default paragraph three years has been difficult to recover.

according to huayi 2013 half annals, huayi brothers account receivable of the top five customers respectively China film digital cinemas, tencent, Shanghai media, hebei TV station and the shandong television station, accounted for 38.99% of the accounts receivable.

one of tencent’s accounts receivable RMB 78.94 million, deadline 1-3 years, is a major receivables huayi customer balance in the longest and most a, and tencent is huayi’s fourth largest shareholder.

in May 2011, tencent with 445 million yuan, such as ma stock holdings of 27.8 million shares of huayi, became the first big institutional investors in huayi brothers. But it is after the tencent stake in huayi company began to a lot of credit huayi zhang.

huayi annual report 2011, tencent in with 64 million yuan debt became the first big client company accounts receivable, to accounts receivable rose to 79.34 million yuan in 2012. But in fact, tencent is not lack of money.

according to the company in 2013, tencent has just announced the second quarter report, the company in the first half of the revenue of 27.932 billion yuan, net profit of 7.755 billion yuan, tencent net business activities generated cash flow of 12 billion yuan, is “deep pockets”.

the huayi chairman secretary office staff told reporters that due to the company and have business cooperation between tencent, so the receivables, the business part mainly including movies and TV shows.

as for nearly three years of accounts receivable, the staff said, because the company did not collect account, so the protracted formed now situation led to the accounts receivable. Journalists consult any recent withdraw the payment plan, the staff said that the company hasn’t take back the payment schedule.

August 16, huayi brothers midday in closed at 39.47 yuan, down 1.55%.

source: business network