Core Viewpoint - The chairman of Dashing Times Cultural Investment Co., Ltd. (stock abbreviation: *ST Dashing) has been restricted from high consumption, leading to a significant drop in the company's stock price by 3.90% on October 17 [1] Company Overview - Dashing Times Cultural Investment Co., Ltd. was established in 1986 and listed on A-shares in 1996, with a history of multiple ownership changes [3] - The company primarily focuses on film investment and production, as well as game development in the cultural sector [3] Financial Performance - In 2024, the company reported total revenue of 167 million, a year-on-year decrease of 26.64%, and a net loss attributable to shareholders of 63.69 million, compared to a loss of 19.27 million in the previous year [4] - The net cash flow from operating activities was -94.54 million, worsening from -55.79 million in the previous year [4] - For the first half of 2025, the company achieved revenue of 109 million, a year-on-year increase of 39.11%, but the net loss attributable to shareholders was -33.73 million, a decline of 116.84% [4] Acquisition and Future Prospects - In May 2024, Tangshan Cultural Tourism acquired Dashing Times for 713 million, with a share price of 7.35 per share, but as of October 17, the stock closed at 3.94, resulting in a floating loss of 380 million for Tangshan Cultural Tourism [5] - The previous actual controller made a profit commitment of at least 45 million for the cumulative net profit over 2024, 2025, and 2026, which appears increasingly difficult to achieve [5] - Tangshan Cultural Tourism has provided a loan of up to 300 million to help stabilize Dashing Times, but continued losses or revenue below 300 million could lead to delisting [5]

Group 1 - The company has provided a pledge guarantee for a loan of 20 million RMB to its wholly-owned subsidiary, Bona Entertainment, to support its business development [2][5] - The board of directors approved a total guarantee limit of 499.29 million RMB for the company and its subsidiaries, with 202.14 million RMB allocated for the company to guarantee its subsidiaries [3][7] - As of the announcement date, the company has utilized 89.62 million RMB of the guarantee limit for its subsidiaries, leaving a remaining limit of 112.51 million RMB [3][7] Group 2 - Bona Entertainment, the guaranteed entity, is a wholly-owned subsidiary of the company, established in 2007, with a registered capital of 100 HKD and a focus on film investment and production [4] - The company has confirmed that Bona Entertainment has a good credit status and is not a subject of enforcement actions [4][6] - The pledge guarantee is secured by a time deposit certificate valued at 20.35 million RMB, with a guarantee period not exceeding September 19, 2028 [5][6] Group 3 - The total amount of external guarantees provided by the company and its subsidiaries is 4.993 billion RMB, with the current balance of guarantees at 2.792 billion RMB, representing 52.88% of the company's latest audited net assets [7]