ST Huayi's 1.8 Million Shares Auctioned at Over 5% Premium, Reaching 3.5826 Million Yuan
Today, 1.8 million shares of unlimited saleable stock held by Wang Zhonglei, a controller of Huayi Brothers (stock abbreviation: ST Huayi, stock code: 300027), were officially auctioned off through judicial proceedings. According to information from the JD Asset Trading Platform, the starting price for the shares was 2.4066 million yuan, and they were ultimately won by Zhuhai Hengqin Tiansheng Equity Investment Partnership (Limited Partnership) for a transaction price of 3.5826 million yuan, equivalent to approximately 1.99 yuan per share, a premium of over 5% compared to the current price of 1.82 yuan/share in the secondary market on the same day.
Although the auction of these 1.8 million shares at a premium has attracted widespread market attention, Huayi Brothers' current fundamentals still face severe challenges, and the risk of delisting remains high.
Recently, Tianyancha legal lawsuit information shows that Huayi Brothers Media Co., Ltd. (300027.SZ) has added a bankruptcy case.
The applicant for bankruptcy is Beijing Tai Rui Fike Technology Co., Ltd., the applicant for bankruptcy is Huayi Brothers Media, the court handling the case is the Intermediate People's Court of Jinhua City, Zhejiang Province, the case type is a compulsory liquidation case, and the case number is (2026) Zhe 07 Po Shen 2.
The date the case was made public was April 23, 2026. This means that the pre-restructuring of the case has been accepted by the court and will officially enter the bankruptcy review procedure.
Huayi Company’s first quarter report of 2026 and its annual report for 2025, disclosed recently, show that both its operating and financial conditions are under pressure.
Financial data shows that in the first quarter of 2026, Huayi Brothers achieved revenue of 62.62 million yuan, a decrease of 40.88% year-on-year compared to 106 million yuan in the same period last year; net loss reached 28.73 million yuan, while the same period last year was a net profit of 19.76 million yuan, turning a profit into a loss;
Net profit after deducting non-recurring gains and losses was 20.28 million yuan, a turnaround from a net loss of 27.54 million yuan in the same period last year, but overall profitability remains insufficient.
Throughout 2025, the company’s operating pressure further increased. Full-year revenue was 310 million yuan, a decrease of 33.43% year-on-year compared to 465 million yuan in the same period last year; net loss expanded to 334 million yuan, compared to a net loss of 285 million yuan in the same period last year;
Net loss after deducting non-recurring gains and losses was 408 million yuan, an increase from 383 million yuan in the same period last year, and remained in a state of loss.
It is worth noting that the first quarter report of 2026 shows that Huayi Brothers’ net assets attributable to shareholders have reached -11.46 million yuan, officially touching the red line of insolvency, which has also become one of the company’s major operating risks.
In terms of inventory, as of the end of the first quarter of 2026, the company’s inventory balance was 19,239.04 million yuan, a decrease of 1.32% from the beginning of the period of 19,496.54 million yuan, a slight reduction in scale.
It is understood that the company’s inventory mainly consists of film and television projects under production or preparation. Currently, dozens of film, television series and short drama projects, including "The Mermaid 2" and "Catch the Spies," are still underway.
The slight decrease in inventory scale means that some projects have entered the later stages of production, but the company’s overall project reserves remain relatively sufficient. If subsequent related projects are successfully launched, they are expected to gradually be converted into revenue, providing certain support for the company’s operations.
In addition, the company’s stock has been subject to other risk warnings since the opening of the market on April 30, 2026. The stock abbreviation has been changed from “Huayi Brothers” to “ST Huayi,” the stock code remains 300027, and the daily price limit for stock trading remains unchanged at 20%.