On Financial Risk Prevention And Control Of Huayi Brothers

Film and Television Products,is a special commodity,not only contains its own commercial value,but also shoulders the mission of ideological output and cultural heritage.Cultural Industry is a national strategic industry,as an important part of cultural industry,China’s film and Television Industry has been inseparable from the government’s promotion and support.However,it can not be ignored that the special M & A of Human Resources,the natural pattern of "light assets",the extremely high uncertainty of film income,and the weak tax administration mechanism have already laid many hidden dangers for the development of the Industry The turning point of rapid development has arrived.Huayi brothers,the first listed Film and Television Company in China,has a long history,a large scale and a complete business form.By decomposing the financial activities of enterprises,Huayi brothers is identified as having four major financial risks,namely,goodwill impairment risk associated with M & A activities,and Stock Price Collapse risk associated with fund-raising activities Investment decision risk related to investment activities and tax evasion risk related to tax payment activities.In the light of the characteristics of the film and Television Industry and the reality of Huayi brothers’ enterprises,this paper discusses the possible causes of the risks,and believes that the root cause of the risks lies in Huayi brothers’ excessive dependence on certain entertainers The liquidity shortage caused by the high uncertainty of the main business income,the improper transfer of investment strategy under the strategy of “de-movie-unitization”,and the speculation under the loose regulation,etc..Therefore,in view of different risks and their causes,this paper puts forward corresponding prevention and control measures based on the development of Huayi brothers:(1)to reduce the value of goodwill risk,put forward the step-by-step implementation of the M & A plan,reasonably evaluate the profitability of the M & A target,to speed up the turnover and disposal of the subject matter of mergers and acquisitions with high premium;(2)to the risk of stock price collapse,it is proposed to promote the diversification of financing methods,to carry out corporate social responsibility strategically,and to strengthen the governance of media optimization;(3)to the risk of investment recovery,it is proposed to strengthen the layout of cinemas,the offline derivative takes the movie and television consumer goods investment as the starting point,the online derivative takes the game investment as the strategic management;(4)regarding the evasion tax risk,proposes to establish the separation wall with the entertainer tax,brings the tax into the financial sharing center,and the introduction of professional tax firms.