--- title: "With a refusal to fulfill a claim of 600,000, Huayi Brothers has become a \"dishonest debtor,\" and the company is at a critical juncture for pre-restructuring" type: "News" locale: "en" url: "https://longbridge.com/en/news/287037694.md" description: "Huayi Brothers has been listed as a dishonest executor due to a claim of 600,000 and is facing bankruptcy reorganization. The company has been losing money continuously since 2018, with a cumulative loss of 8.5 billion yuan and a debt-to-asset ratio as high as 98.03%. The latest financial report shows that operating revenue in 2025 is expected to decline by 33.43% year-on-year, with a net profit loss of 334 million yuan. The court has initiated a pre-reorganization procedure and appointed a law firm as the temporary administrator" datetime: "2026-05-20T09:10:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287037694.md) - [en](https://longbridge.com/en/news/287037694.md) - [zh-HK](https://longbridge.com/zh-HK/news/287037694.md) --- # With a refusal to fulfill a claim of 600,000, Huayi Brothers has become a "dishonest debtor," and the company is at a critical juncture for pre-restructuring Once known as the "first stock in China's film and television entertainment," Huayi Brothers (Huayi 300027.SZ) has recently been listed as a dishonest person due to a debt of 600,000 yuan. According to the Qichacha APP, on May 19, Huayi Brothers Media Co., Ltd. was listed as a dishonest person (debtor) for refusing to fulfill obligations determined by effective legal documents despite having the ability to perform. The suspected applicant for enforcement is Beijing Jingkaili Consulting Co., Ltd., with the amount involved being 608,400 yuan, and the performance status being completely unfulfilled. The executing court is the People's Court of Chaoyang District, Beijing. ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O34VDRMkKKpbdVSMCCvxOjCTXHtE-HuQEptkIKenkEiCoAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Previously, Huayi Brothers and Wang Zhongjun had been restricted from high consumption due to this case. Risk information shows that the company currently has multiple entries as a debtor and restrictions on high consumption. This debt of just over 600,000 yuan reflects the harsh reality of Huayi Brothers' severely depleted cash flow. Since reporting its first annual loss in 2018, Huayi Brothers has been mired in losses for several consecutive years. **By the end of 2024, the company will have reported losses for 8 consecutive years, totaling 8.5 billion yuan.** The latest performance shows that in 2025, the company achieved operating revenue of 310 million yuan, a year-on-year decline of 33.43%, with a net profit loss attributable to the parent company of 334 million yuan, and the scale of losses continues to expand, with the debt-to-asset ratio climbing to 98.03%. In the first quarter of 2026, Huayi Brothers achieved operating revenue of 62.6231 million yuan, a year-on-year decrease of 40.88%; the net profit loss attributable to shareholders of the listed company was 28.7284 million yuan, compared to a net profit of 19.7627 million yuan in the same period last year. Continuous losses combined with mounting debts have led Huayi Brothers towards bankruptcy reorganization. According to Tianyancha's legal litigation information, Huayi Brothers Media Co., Ltd. has a new bankruptcy case, with the applicant being Beijing Tairuifike Technology Co., Ltd. (hereinafter referred to as "Tairuifike"), and the respondent being Huayi Brothers. The court handling the case is the Intermediate People's Court of Jinhua City, Zhejiang Province, and the case type is a bankruptcy review case, with case number (2026) Zhe 07 Po Shen 2. The public date of the case is April 23, 2026. ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O0S451wp9Wn2wGXN0H4yVJ__mqq0cuuXL2m_gazpmvMUcAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) On the same day, Huayi Brothers announced that the company received the "Decision" (2026) Zhe 07 Po Shen 2 and (2026) Zhe 07 Po Shen 2-1 from the Jinhua Intermediate Court, deciding to initiate pre-reorganization for the company and appointing Beijing Zhonglun (Shanghai) Law Firm and Zhejiang Zhiren Law Firm as the temporary managers for the company's pre-reorganization. ![Image](https://imageproxy.pbkrs.com/https://inews.gtimg.com/om_bt/O6yfeEAY9CMRuuqxPlDtVfkOKLcMAyktmELP4a1MP1DZcAA/641?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) This pre-reorganization originated from a debt of approximately 11.4052 million yuan The announcement on April 23 stated that as of the date of the "Notice," Huayi Brothers had an overdue debt principal of approximately 11.4052 million yuan owed to Tai Rui Fei Ke that had not been paid. Tai Rui Fei Ke believes that Huayi Brothers cannot repay the overdue debt and clearly lacks the ability to repay, but has restructuring value. Therefore, it applied to the court for a ruling to undergo restructuring and requested a pre-restructuring process. Huayi Brothers pointed out in the announcement that the Jinhua Intermediate Court's initiation of the pre-restructuring procedure for the company does not represent the formal acceptance of the applicant's (i.e., Tai Rui Fei Ke's) restructuring application for the company, and there is significant uncertainty regarding whether the company will subsequently enter the restructuring process. If the company enters the restructuring process and it is successfully implemented, it will be beneficial for improving the company's operating and financial conditions, enhancing operational capabilities, and optimizing the company's asset-liability structure. If the restructuring fails, the company will face the risk of being declared bankrupt. This also means that the pre-restructuring of this case has been accepted by the court and will officially enter the bankruptcy review process. Source: Manager's Network Editor: Cao Nan ### Related Stocks - [300027.CN](https://longbridge.com/en/quote/300027.CN.md) ## Related News & Research - [Energy Secretary Chris Wright: Iran will be back to exporting similar volume as Biden era](https://longbridge.com/en/news/290856545.md) - [TECHNICALS-CBOT soybeans may stabilise around $11.48-1/2 and rise](https://longbridge.com/en/news/290912129.md) - [NEVADA KING GRADUATES TO THE PREMIUM OTCQX BEST MARKET, ENHANCING VISIBILITY FOR U.S. INVESTORS | NKGFF Stock News](https://longbridge.com/en/news/290951705.md) - [10:48 ETFrom First-Year Momentum to Multi-Million-Dollar Growth: PuroClean Honors Top Franchise Owners](https://longbridge.com/en/news/290850285.md) - [OS: Merger-driven growth, innovation, and capacity expansion position the group as a sector leader](https://longbridge.com/en/news/290785696.md)