Core Viewpoint - The financial health of Bona Film Group is deteriorating, marked by significant overdue commercial bills, mounting losses, and declining stock performance, raising concerns about its cash flow and operational sustainability [1][2][4][6]. Group 1: Overdue Bills and Financial Strain - As of September 30, 2025, Bona Film Group's overdue electronic commercial bills have reached 11 million yuan, leading to the suspension of its bill acceptance services by the Shanghai Bill Exchange [2]. - The company has been on the overdue list since June 2023 due to multiple instances of overdue bills, indicating ongoing cash flow issues and insufficient short-term debt repayment capacity [2][3]. - The negative cash flow trend began in 2023, with a net cash flow from operating activities of -78.58 million yuan, a 107% year-on-year decline [2]. Group 2: Accumulated Losses - From 2022 to the first half of 2025, Bona Film Group has accumulated losses exceeding 2.5 billion yuan, with losses of 720 million yuan in 2022, 553 million yuan in 2023, and 1.056 billion yuan in the first half of 2025 [4][5]. - The company's film projects have underperformed, with the total box office for three films in the first half of 2025 only reaching 441 million yuan, significantly lower than previous years [5]. Group 3: Stock Performance and Shareholder Actions - Bona Film Group's stock price has plummeted over 60% from its peak of 15.23 yuan per share, closing at 5.6 yuan on October 10, 2025 [6]. - Major shareholders have been reducing their stakes, with significant reductions from companies like CITIC Securities and Tibet Hehe, raising concerns about investor confidence [7]. - The actual controller, Chairman Yu Dong, has pledged nearly half of his shares, further intensifying market worries about the company's financial stability [7].

登录新浪财经APP 搜索【信披】查看更多考评等级 文 | 《BUG》栏目 徐苑蕾 商票连续多月逾期 据上海票交所披露数据，截至2025年9月30日，博纳影业的电子商业汇票累计逾期发生额达1100万元，逾期余 额合计1100万元。依据《商业汇票信息披露操作细则》，票交所已暂停提供商业汇票承兑服务，直至公司清偿 全部逾期票据并完成信用信息披露。 《BUG》栏目查询发现，事实上，早在今年6月，博纳影业就因发生3次以上票据逾期被列入承兑人逾期名 单，并且此后连续多月仍未能清偿，逾期金额日益增加。 | 承兑人名称 | 博纳影业集团股份有限公司 | 披露信息 时点日期 | 2025-09-30 | | --- | --- | --- | --- | | 累计承兑 发生额(元) | 110,000,100.00 | 披露日期 | 2025-10-01 | | 承兑余额(元) | 11,000,000.00 | 票据介质 | 电票 | | 累计逾期 发生额(元) | 11,000,000.00 | 系统备注 | 披露信息与票交所记载信息相符 | | 逾期余额(元) | 11,000,000.00 | 企业备注 | | 近日， ...

Group 1: Overdue Bills Overview - The number of overdue bill issuers decreased to 5,534 in April 2025, down 4.02% from 5,766 in March 2025[2] - In the credit bond market, 2,228 issuers had overdue records, a decrease of 2.71% from 2,290 in the previous month[2] - The number of unique issuers with outstanding bonds dropped to 252, a significant decline of 16.28%[2] Group 2: Industry Analysis - Among overdue issuers, 57 were from urban investment, down from 75, while 104 were from the industrial sector, a decrease of 19[3] - The real estate development sector accounted for 39.42% of overdue bills, a drop of 8.58 percentage points from the previous month[3] - The financial sector had 22 overdue issuers, a decrease of 9%[3] Group 3: Overdue Amounts - The total overdue amount for all companies reached CNY 1,042.40 billion, a decrease of 14.10% month-on-month[16] - The overdue balance was CNY 638.48 billion, down 12.89% from the previous month[16] - The overdue balance for the urban investment sector was CNY 16.09 billion, a significant decline of 32.02%[16] Group 4: Notable Issuers - The top ten overdue issuers accounted for a total overdue balance of CNY 53.17 billion, a decrease of 3.57%[16] - The largest overdue issuer was Shandong Chenming Paper Group Co., Ltd., with an overdue balance of CNY 10.04 billion[18] - Real estate sector overdue amounts increased to CNY 17.47 billion, reflecting a 15.01% rise month-on-month[16]