Wu Jing and Chen Sicheng demanded payment of hundreds of millions of yuan from the producer of Wolf Warrior 2

Beijing Culture, whose market value once skyrocketed thanks to blockbuster films such as "Wolf Warrior 2", "Hello, Li Huanying" and "The Wandering Earth", is now being "collected for debt" by Wu Jing and Chen Sicheng.

On July 7, Beijing Culture announced that it had been sued by four companies recently, requiring them to pay a total of about 156 million yuan in arrears and related interest, litigation fees, appraisal fees, preservation fees, etc. Among these four companies, there are Beijing Dengfeng International Culture Communication Co., Ltd., which is associated with Wu Jing, and Beijing Yitong Legend Film and Television Culture Co., Ltd., which is associated with Chen Sicheng.

Dengfeng International requested that the defendant be ordered to immediately pay the plaintiff RMB 91.0595 million in film project distribution income and interest. Yitong Chuanqi requested that Beijing Culture be ordered to pay investment income and losses totaling RMB 30.3787 million. Jiaying Shangxing requested that the court order Beijing Culture to pay a total of RMB 9.7469 million in investment costs and distributable income from the film. Xihong City Film and Television requested that Beijing Culture be ordered to pay settlement payments, overdue payment losses, etc., temporarily totaling RMB 25.6125 million.

The litigation requests of the above four companies all involve recovering film distribution income, investment income, etc., and they are collectively required to pay approximately 156 million yuan in arrears and related interest, litigation fees, appraisal fees, preservation fees, etc.

Public data shows that Beijing Culture's main business is film and television culture business, including movies, TV series and web series, artist management, cultural tourism, etc. It has produced films such as "My Hometown and Me", "Hello, Li Huanying", "The Wandering Earth", "Youth", and "Wolf Warrior 2". Among the top five works in the domestic film rankings, three were produced and distributed by Beijing Culture.

Although it has many movies with box office revenues of billions, Beijing Culture's financial report is not good. From 2018 to 2021, Beijing Culture's operating income was 741 million yuan, 855 million yuan, 426 million yuan and 298 million yuan, respectively, with year-on-year growth of -8.78%, 15.37%, -50.22% and -30.02%; in the same period, the net profit was 125 million yuan, -2.306 billion yuan, -767 million yuan and -133 million yuan, respectively. In the first quarter of 2022, Beijing Culture's operating income was only 4.9035 million yuan, a year-on-year decline of 68.59%.