HBMC(SZ:300027) Shen Zhen Shang Bao·2025-12-24 11:31Core Viewpoint - Huayi Brothers Media Co., Ltd. is facing significant financial difficulties, including a court-ordered execution amounting to 74.73 million yuan and a history of substantial losses over recent years [1][2]. Financial Performance - For the first three quarters of 2025, Huayi Brothers reported revenue of 215 million yuan, a year-on-year decline of 46%, and a net loss attributable to shareholders of 114 million yuan, which represents a 168% increase in losses compared to the previous year [2]. - Cumulatively, from 2018 to 2024, the company has incurred losses exceeding 8.2 billion yuan [2]. Debt and Liabilities - As of the end of the third quarter, Huayi Brothers' debt-to-asset ratio reached 87.69%, indicating a high level of financial leverage [3]. - The company has overdue debts totaling 52.5 million yuan, which exceeds 10% of its audited net assets for 2024 [3]. Shareholder and Stock Information - The company's controlling shareholder, Wang Zhongjun, has 154 million shares set for auction at a starting price of 1.9 yuan per share, totaling approximately 292.4 million yuan, which is a 14.8% decrease from the initial auction price of 2.23 yuan per share [1]. - As of December 24, the stock price of Huayi Brothers was 2.13 yuan per share, with a total market capitalization of approximately 5.91 billion yuan [2].