Reporter Xie Ruolin
On May 7, Dadi Cinema Development Co., Ltd. (abbreviation: Dadi Cinema) added another piece of information about the person subject to execution.
Since the company was established in 2007, there have been 5 compulsory enforcement cases involving a total of 149 million yuan of enforcement targets.
Judging from the timeline, the execution time of these cases is all concentrated in this year. The earliest one was executed by the People's Court of Dazu District, Chongqing City for 80,000 yuan on March 1 due to a house lease dispute.
Dadi Cinema is an affiliated company of Guangdong Dadi Cinema Line Co., Ltd. (referred to as Dadi Cinema Line), the second largest cinema chain brand in China. The official account is also one of the ticket sales channels for the theaters under the Dadi Cinema Line.
Trapped in many lease disputes
Dadi Cinema is listed as a dishonest company
Since the beginning of this year, the epidemic has repeatedly pressed the pause button on offline cinemas in some cities.
At the beginning of April, the operating rate of theaters nationwide fell below 50%. Although it began to pick up in May, the operating rate was still less than 70% as of May 8.
In this context, theaters have encountered unprecedented pressure to survive.
The Tianyancha APP shows that the risk level of Dadi Cinema has been shown as "high". It is currently a dishonest company announced by the Supreme People's Court and is also listed by the court as a high-consumption enterprise.
Judging from the historical litigation situation, Dadi Cinema has been involved in a total of 49 cases that have been sued and opened. Among the 15 cases opened this year, 1 was a financial lease contract dispute, 1 did not show the type, and the remaining 13 were house lease contracts. dispute.
The most recent court hearing was on May 10, regarding a dispute over a housing lease contract between Chongqing Macy’s Department Store Co., Ltd. and Dadi Cinema Development Co., Ltd.
Among the 5 cases enforced this year, 4 involved house leasing disputes, with a total execution amount of 1.9815 million yuan, and the other case of 147 million yuan in the execution of the target was "Peninsula Real Estate (Guangzhou) Investment Co., Ltd. related case" , Since they are not the parties, the reporter was unable to access the detailed information of the case.
"Rent disputes are one of the most common disputes in theaters today. Many theaters are opened in shopping malls. In some cities, due to epidemic prevention and control, shopping malls are closed or current limited, theaters are closed, and operating income is lost. As a result, two types of disputes will arise between theaters and landlords. : First, the two parties could not reach an agreement on the demands of 'rent reduction' and 'rent waiver', resulting in litigation; second, the cinema could not maintain its business and chose to close stores and terminate the lease agreement in advance, resulting in disputes." Beijing Zhongtong Law Firm Partner Zhao Ming told the "Securities Daily" reporter that in judicial practice, the court will usually support the appeal of theaters that have been closed due to the epidemic to reduce rent-free.
Reduce 100 theaters in 5 months
The box office revenue of Dadi Cinemas dropped by 70%
Data from the third-party data platform Tuopu shows that as of May 8, the Dadi Cinema Line has a total of 1,063 theaters, a total of 6,553 theaters, and a total of 8,033 seats. The box office achieved during the year was 1.197 billion yuan. According to the box office In terms of revenue, it is the second largest cinema group in China after Wanda Cinema.
In contrast, Wanda Cinemas has 786 theaters, 277 fewer than Dadi Cinemas.
Judging from the data alone, the situation of Dadi Cinemas this year is not optimistic.
On the one hand, in a horizontal comparison, as of May 8, the box office revenue of Dadi Cinemas decreased by 70.67% year-on-year.
On the other hand, in a vertical comparison, the number of theaters under the Dadi Cinema Line is decreasing.
According to the company's official website data, by the end of 2021, the number of theaters under the Dadi Cinema Line will reach 1,163, and the number of screens will be 7,178, ranking first among cinema companies in the country.
That is to say, in the first five months of 2022, the number of theaters under Dadi Cinemas decreased by 100, accounting for nearly 8.5% of the company's total theaters.
This is not the normal iteration speed of the theater industry.
Looking back, from 2019 to 2021, the number of theaters under the company was 1,130, 1,173, and 1,163, respectively.
Even in 2020, offline theaters were stagnant for 175 days, and Dadi Cinemas did not experience large-scale store closures.
In the face of the shutdown of offline theaters, a person close to Dadi Cinema Group told the Securities Daily reporter that the company's management team is trying to solve the problem. Specific measures include optimizing screening, refined operations, and rent reduction negotiations. It doesn't look like a problem.