Star Cinema is a well-known chain cinema brand in China. It not only has a large number of loyal viewers, but is also widely praised for its unique giant screen viewing experience and rich film resources.
However, due to the poor economic situation in recent years, fewer people are going to the cinema to spend money to watch movies, and many cinemas have closed down.
Even large cinema chains like Star Cinemas were not immune to losses, suffering for several consecutive years before the major shareholder finally decided to auction them off.
The host began by saying, "Everyone is familiar with Star Cinemas, right? At its peak, it accounted for one-fifth of the total number of cinemas nationwide. Unfortunately, with changes in the market environment and intensified competition, Star Cinemas is facing unprecedented challenges. However, even a fallen camel is bigger than a horse; Star Cinemas still has influence and a large loyal audience. As long as someone is willing to take over and re-operate it, I believe it can quickly turn a profit and regain its former glory!"
After the host finished the introduction, he added a reminder: "We would like to remind you that Xinghui Cinemas currently has more than 2 billion yuan in debt. If the bidder wins the auction, these debts will also be transferred. Therefore, please think carefully before participating in the auction."
As soon as the auctioneer finished speaking, a murmur arose in the room.
"Star Shine Cinema, this is a huge piece of the pie. If we can take it over, we're sure to make money in the future."
"That's true, but not everyone can take it on. The cinema industry has been sluggish these past few years; even Star Overseas couldn't stay afloat. Who else has the strength and courage to take it over?"
"Yes, and I heard that Xinghui has a lot of debt. The person who takes over will not only have to take on the debt, but also have to invest a lot of money in rectification and operation. The risk is not small."
"Star Shine Cinemas has accumulated debts of over 2 billion yuan. No one would want a company like that even if it were given away for free!"
The crowd was abuzz with discussion, and everyone hesitated to take on the risky prospect of Star Shine Cinema.
However, Li Yi became more and more excited as he listened.
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