European Cup postponed due to epidemic situation


EuropeanCuppostponedduetoepidemicsituation
TheNewCoronaryPneumoniaepidemicisspreadingglobally.Affectedbythis,theEuropeanCupin2020decidedtopostponetheevent.Thesportsindustryundertheimpactoftheepidemichasbeenhithard,andthelistedcompanyContemporaryMingchengisalsogettingworse-itssubsidiariesowntheUEFAnationalteamseriesofeventsfromJanuary1,2018toNovember30,2022(includingtheEuropeanCup2020Maincompetitionandqualifiers,2022WorldCupEuropeanqualifiers,etc.)Newmediaexclusiverightsandglobalsponsorrights(includingsponsorshiprightsandcopyrights).Profitabilitywashit,andContemporaryMingchengstillborrowsmoney.OnMarch17,ModernMingchengappliedforaloanof300millionyuanfromNorthernTrustwithapledgeofequity.Affectedbytheepidemic,theprofitabilityofthesubsidiaryNewEnglandCaymanorthespreadoftheinnovativecoronarypneumoniaepidemichasspreadglobally.OnMarch12,the2018-2019seasoncreatedabout8billionUSdollars.TheNBAannouncedalockout.Itwasalsohitbytheepidemic,oritcouldnotgathernormally.OnMarch17,theEuropeanFootballAssociationFederation(hereinafterreferredtoas”UEFA”)metwith55associationmembers,theEuropeanFootballClubUnionandotherassociationcongresses.Themeetingdecidedthatthe2020EuropeanCupwillbeextendedto2021,andtheestimatedtimeisFromJune11toJuly11,2021,theofficialannouncementtimeisyettobedetermined.DuetotheholdingsubsidiarySuperSportsMediaInc.(Hereinafterreferredtoas”NewEnglandCayman”)hasaseriesofUEFAnationalteameventsfromJanuary1,2018toNovember30,2022(includingthe2020EuropeanCupmaingameandqualifiers,2022WorldCupEuropeanqualifiersEtc.)theexclusiverightsofnewmediaandtherightsandinterestsofglobalsponsors(includingsponsorshiprightsandcopyrights),sothepostponementoftheEuropeanCupin2020willaffecttheoperationofNewInkCaymanin2020.OnAugust31,2018,ContemporaryMingchengofferedapriceof34.1.2billioncashacquired100%equityofNewInkCayman,forming23.Goodwillof6.3billion.FromAugust31,2018toDecember31,2018,NewEnglandCaymangeneratedrevenueof5.9.3billion,netprofit3.2.1billionyuan.AftertheacquisitionofXinyingCayman,ContemporaryMingchengandiQiyistartedanin-depthcooperation.WithapremiumofnearlyUS$2.4billion,theacquisitionofXinyingCayman,ContemporaryMingchengfacedbreakthroughfinancialpressure.InDecember2019,ContemporaryMingchengissued97436437sharestotheContemporaryGroup,LiJianguang,YuLingxiaoandLiHongxin.Thecapitalbudgetis8.US$2.6billion,allusedtoinvestintheacquisitionofequityinNewInkCayman.Duetotheimpactoftheepidemic,theperformanceofXinyingSportsissubjecttochange,andthegoodwillofGaoXuanmayfurtherconsumethenetprofitofContemporaryMingcheng.Goodwillishigh,andtheimpactoftheepidemichasagreaterimpact.Sinceitstransformationin2014,ContemporaryMingchenghasbeenwalkingontwolegsinsportsandfilmandtelevision.In2015,ContemporaryMingchengofferedaprice6.500millionsharesacquired100%equityofQianshiMediaandcutintothefilmandtelevisionindustry.AsthefounderofQianshiMedia,YouJianmingbecameacontemporaryMingchengshareholder.YouJianming’scommitmenttoachievementsandperformancecompensationobligationsundertakenbyContemporaryMingchengTheprofitshallbenolessthan4743.770,000yuan,6392.560thousandyuan,8164.100,000yuan,10123.150,000yuan;thecompany’sactualnetprofitin2014,2015,2016and2017was4957.470,000yuan,6770.930,000yuan,9685.420,000yuan,11,915.440,000yuan;YouJianminghascompletedtheagreedperformancecommitment.The2018annualreportshowsthatasofDecember31,2018,duetotheacquisitionofStrongVisionMedia,thecontemporaryMingchengaccountsurfacehasformed3.4billiongoodwillhasnotyetbeenaccrued.Inadditiontothelarge-scaleacquisitionofXinyingCayman,theextensionofmergersandacquisitionscausedModernMingchengtoterminatethegoodwillbalanceof33onSeptember30,2019.5.6billionyuan,accountingfor30oftotalassets.20%.From2015tothethirdquarterof2019,ModernMingchengachievedanetprofitof9%.4.8billionyuan.Thedifferencebetweentherealizedprofitandthegoodwillformedbymergersandacquisitionsisveryobvious.ContemporaryMingcheng’sprofitabilityisnottoohigh,butthe”spendmoney”isverygenerous.SinceFebruary2015,ContemporaryMingchenghasraisedfundsthroughdirectionalissuanceandissuanceofcorporatebonds40.USD8.5billion.AsofSeptember30,2019,thebalanceofModernMingcheng’sshort-termdebtwas13.5billionyuan,along-termloansurplusof12.24ppm,non-currentdebtduewithinoneyearis3.22trillion,withinayear,thenumberofloansthatModernMingchengneedstorepayisonly16.Morethan7.2billionUSdollars,asofSeptember30,2019,theonlybalanceofcontemporaryMingcheng’sbookfunds.3.6billion,short-termliquiditywillbeundercertainpressure.OnMarch17,ModernMingchengborrowedmoneyagain.TheannouncementshowedthatModernMingchengplannedtomergetheTrustFundExpenditureContractwithNorthernInternationalTrustCo.,Ltd.TheamountofexpenditureunderthecontractwasRMB300million(theactualamountallocatedwasQuasi),thecompanypledgedtheabove-mentionedreproductionwithalltheequityitholdsinBeijingContemporaryTimeMediaCo.,Ltd.Sauna,YeWangZhangYanbianeditorWangJinyuproofreadingLiuBaoqing