Beijing Culture Announcement last night，The company has recently encountered financial difficulties，Failed to repay bank loan on time，Loan overdue，Overdue loan principal 500 million yuan。

The creditor of this loan is Industrial Bank。January 22, 2020，Beijing Cultural Announcement，To meet the capital needs of the company’s business development，Agree that the company can apply to Beijing Anhua Branch of Industrial Bank Co., Ltd. for a comprehensive credit line not exceeding 500 million yuan，Used to supplement the company’s working capital，Credit 188bet app period 1 year。Announcement，If the company cannot properly solve the above-mentioned overdue bank loan problem，You may face liquidated damages related to overdue debts、Late fees, penalty interest, etc.，Resulting in an increase in the company’s financial expenses、Decreased financing ability，Adversely affects the development of the main business。

Beijing Culture’s main business is film and television culture，First three quarters of 2020，The company achieved operating income of 13.08 million yuan，Down 98% year-on-year；Net profit attributable to shareholders of listed companies is loss 1.1.7 billion yuan。

What is more serious than the losses is the company’s multiple violations，Involving finance and internal control。December 31, 2020，Beijing Culture received a warning letter from the Beijing Securities Regulatory Bureau，After investigation，The revenue from some of the company's projects in 2018 did not meet the recognition conditions stipulated in "Accounting Standards 188bet app for Business Enterprises No. 14 - Revenue"，Resulting in the company overstating operating income by approximately 4% in 2018.600 million yuan，Overcalculated net profit by about 1.9.1 billion yuan。At the same time，The company failed to effectively integrate the acquired subsidiaries，Lack of control over subsidiary projects、Key control links such as advance fund management and supervision，There are flaws in the internal control design。

Same day，Beijing Culture received the "Notice of Investigation" from the China Securities Regulatory Commission，Because the company is suspected of illegal information disclosure，According to the relevant provisions of the Securities Law，Decided to open an investigation into the company。

188bet app Source: Shanghai Securities News, author: Qin Mi, original title: "Beijing Culture’s 500 million yuan bank loan is overdue》.