Bona Film Group has begun defaulting on salaries and laying off employees. According to netizens, September salaries were still unpaid by the end of October, and employees have even started filing complaints. Since its listing in 2022, Bona has suffered losses for four consecutive years, accumulating losses of nearly 3 billion yuan from 2022 to 2025. The company's single-year loss in 2025 reached 1.46 billion yuan, a record high since its listing. In the first half of 2026, revenue was 460 million yuan, but the net loss attributable to shareholders was still 170 million yuan. Although the company has begun selling some equity, scaling back its cinema business, and attempting to develop short dramas and AI films, these new businesses are unlikely to turn the tide in the short term. For example, the AI-powered theatrical film "Sanxingdui: The Future Past," with an investment of 10 million yuan, only grossed 1.49 million yuan in eight days, failing to recoup its costs. It seems that Bona's most pressing need is not to tell new stories, but to solve its cash flow and employee salary problems. Film companies can transform, but they cannot afford to lose their basic operational order.