Shaanxi BC&TV Network Media Group was sued for failing to settle CCTV channel signal usage fees. Following court mediation, the company must pay China Radio, Film and Television Satellite Company a total of 70.19 million yuan in installments between 2026 and 2028, equivalent to 12.94 percent of its most recent audited net assets. The dispute stems from a cooperation contract signed by the two parties in March 2024 for encrypted television signal services covering CCTV channels 3, 5, 6, 8, 16 and full-channel programming. Shaanxi BC&TV Network continued using the channel signals provided by China Radio, Film and Television Satellite Company during and after the contract period but failed to make payments as agreed. China Radio, Film and Television Satellite Company filed a lawsuit with the Haidian District People's Court in Beijing in July 2026. Under the mediation agreement, an initial payment of 5.71 million yuan has already been made, all company bank accounts frozen due to the litigation have been unfrozen, and the case acceptance fee and property preservation fee will be borne by China Radio, Film and Television Satellite Company. Shaanxi BC&TV Network reported net losses for three consecutive years from 2023 to 2025, with a net loss attributable to the parent company of 1.5 billion yuan in 2025. By the end of 2025, its net assets had shrunk to just 542 million yuan, down more than 80 percent from 3.13 billion yuan at the end of 2023. The company's liquidity risk has intensified significantly, with short-term debt accounting for 63.57 percent of total debt. The company said it will closely monitor subsequent developments and fulfill its information disclosure obligations in a timely manner.
Shaanxi Broadcast & TV Network Intermediary Group Co LtdCourt-ordered payment of 70.19 million yuan for unpaid CCTV fees, worsening liquidity and financial strain.
