Financial Performance - The company's operating revenue for 2021 was CNY 850,369,156.09, representing a 6.25% increase compared to CNY 800,334,528.76 in 2020[33]. - The net profit attributable to shareholders for 2021 was CNY 75,933,990.32, which is a 20.24% increase from CNY 63,151,590.39 in 2020[33]. - The gross profit margin improved to 19.29% in 2021 from 16.61% in 2020[33]. - Total assets at the end of 2021 amounted to CNY 908,327,429.33, reflecting a 1.45% increase from CNY 895,351,829.24 at the beginning of the year[35]. - Total liabilities decreased by 15.33% to CNY 246,291,993.83 in 2021 from CNY 290,896,119.60 in 2020[35]. - The company's net asset attributable to shareholders increased by 9.82% to CNY 663,819,710.95 in 2021 from CNY 604,466,628.93 in 2020[35]. - The basic earnings per share for 2021 was CNY 0.24, up 9.09% from CNY 0.22 in 2020[33]. - The net cash flow from operating activities for 2021 was CNY 19,833,329.71, a significant decrease of 77.84% compared to CNY 89,488,240.13 in 2020[37]. - The company reported a total asset growth rate of 1.45% for 2021, down from 38.63% in 2020[38]. - The total amount of government subsidies recognized in 2021 was CNY 4,417,144.57, up from CNY 1,207,318.37 in 2020[46]. - The company achieved operating revenue of 850.37 million yuan, an increase of 6.25% compared to the previous year[60]. - Net profit attributable to shareholders reached 75.93 million yuan, reflecting a growth of 20.24% year-over-year[60]. - R&D investment increased by 69.59% during the reporting period[60]. - The company reported a significant increase in fixed assets, which rose by 1607.32% to ¥42,900,212.85, primarily due to the purchase of an office building[75]. - The company’s net profit for the current period is 72,706,150.86, representing an 18.68% increase compared to the previous year's 61,261,525.46[79]. Shareholder Information - In May 2021, the company distributed a cash dividend of RMB 1 for every 10 shares, totaling RMB 20,400,000[3]. - In November 2021, the company completed a capital reserve distribution, increasing total shares from 210,000,000 to 314,999,983, with a distribution of 5.147058 shares for every 10 shares held[5]. - The company has a controlling shareholder, Wang Jian, who holds 22.46% of the shares directly and controls an additional 10.72% indirectly, totaling 33.18%[14]. - Major shareholder Wang Jian increased his holdings from 46,700,000 to 70,736,761 shares, representing a change of 24,036,761 shares, which is 22.46% of total shares[197]. - The total number of unrestricted shares increased from 122,822,500 to 182,951,718, representing a change of 60,129,218 shares, which is a decrease in percentage from 58.49% to 58.08%[195]. - The total number of restricted shares increased from 87,177,500 to 132,048,265, with an increase of 44,870,765 shares, resulting in a percentage increase from 41.51% to 41.92%[195]. - The company has 13 subsidiaries, including 6 wholly-owned and 7 controlled subsidiaries, and 3 associated companies[99]. - The company has established a new subsidiary, Guangdong Liujin Tongda Cultural Communication Co., Ltd., with a 40% stake, focusing on brand planning and content operations[103]. Business Operations and Strategy - The company primarily operates in the comprehensive operation service of television channels, with core services including channel coverage, satellite digital receiver development, and television advertising agency services[17]. - The company is focusing on business integration to enhance operational efficiency across its various service units[16]. - The company is actively expanding its channel resources, including shopping and cartoon channels, to enhance its service offerings[15]. - The company is exploring new marketing experiences that connect television screens with mobile terminals to enhance user engagement[15]. - The company is positioned to benefit from the rapid development of digitalization, 5G, and AI technologies in the broadcasting industry[15]. - The company is focusing on the opportunities presented by the 5G industry and plans to accelerate its layout in the ultra-high-definition sector[60]. - The company is committed to enhancing its product competitiveness and innovation capabilities through continuous service and product upgrades[60]. - The company is focusing on the development of a comprehensive business system that integrates mobile, television, broadband, voice, and satellite services[129]. - The company aims to improve its operational quality and social responsibility while providing better content operations and technical services to its clients[130]. Risks and Compliance - The company faces risks related to concentrated customer revenue, as changes in relationships with major clients could adversely affect performance[14]. - The company is subject to risks associated with the broadcasting industry's capital expenditures and competition, which may affect its revenue streams[16]. - The company faces risks related to accounts receivable collection due to potential changes in individual customer credit situations[17]. - The company is facing risks related to industry policy changes that could impact its operations and regulatory compliance[15]. - The company is at risk of not being able to continue its satellite digital receiver business if regulatory changes require production licenses[154]. - The company has established a good relationship with tax authorities to navigate changes in tax policies effectively[151]. - The company has taken measures to ensure compliance with regulations while expanding its business operations[154]. - The company has undergone a corporate restructuring, including the cancellation of a subsidiary with minimal impact on overall operations[106]. Research and Development - The company has developed several core technologies, including 4K hardware encoding and decoding technology, which are crucial for future product development[15]. - The company has a strong emphasis on research and service innovation, holding dozens of patents and software copyrights[15]. - R&D expenditure for the current period amounted to ¥15,575,072.64, representing 1.83% of operating revenue, an increase from 1.15% in the previous period[111]. - The total number of R&D personnel increased from 31 to 34, with the proportion of R&D staff in total employees rising from 27.64% to 31.31%[112]. - Key R&D projects include advanced image recognition technology and a cloud-based messaging system, aimed at enhancing service offerings and operational efficiency[114][115]. - The company has developed a comprehensive service model for television content providers, focusing on channel coverage, content operation, marketing communication, and technical support[49]. Corporate Governance and Management - The company emphasizes the need for improved internal management and governance as it expands its business operations[14]. - The company completed a board and supervisory committee election in May 2021, with terms starting from May 14, 2021[4]. - The company has implemented measures to attract and retain professional talent, essential for its business expansion and innovation[20]. - The company is committed to improving its internal control systems and management training to adapt to its expanding business scale and ensure sustainable development[135]. - The company has established a clear profit distribution policy to enhance shareholder returns and ensure transparency in decision-making[183]. Legal and Regulatory Matters - The company faced a regulatory warning due to a senior executive's failure to disclose a criminal detention, which constituted a violation of information disclosure rules[193]. - The company has been involved in litigation, with a total claim amount of 3,731,722.30 yuan, representing 0.56% of its net assets[158]. - The company guarantees that the public offering prospectus does not contain false records or misleading statements, and assumes legal responsibility for its accuracy[189]. - The company commits to distributing retained earnings to new and old shareholders based on their respective shareholdings after the public offering[190].

Financial Performance - Operating revenue for the first quarter reached ¥154,393,545.09, representing a 64.65% increase year-on-year [19]. - Net profit attributable to shareholders increased by 47.20% to ¥13,750,681.62 compared to the same period last year [19]. - Net profit after deducting non-recurring gains and losses rose by 55.64% to ¥13,579,690.42 year-on-year [19]. - Basic earnings per share increased by 33.33% to ¥0.04 compared to the previous quarter [19]. - Total revenue for Q1 2022 reached ¥154,393,545.09, a significant increase from ¥93,771,092.16 in Q1 2021, representing a growth of approximately 64.6% [66]. - Net profit for Q1 2022 was ¥11,213,724.05, compared to ¥8,960,055.14 in Q1 2021, indicating a year-over-year increase of about 25% [68]. - Operating profit for Q1 2022 was ¥14,046,791.32, up from ¥11,207,530.10 in Q1 2021, reflecting a growth of approximately 25% [67]. - Total comprehensive income for Q1 2022 was ¥11,213,724.05, compared to ¥8,960,055.14 in Q1 2021, showing an increase of approximately 25% [69]. Assets and Liabilities - Total assets increased by 1.15% to ¥918,805,186.64 compared to the end of the previous year [16]. - The company's asset-liability ratio decreased to 26.20% from 28.31% at the end of the previous year [16]. - Total liabilities decreased slightly to ¥244,646,652.09 from ¥246,291,993.83, indicating a reduction of approximately 0.3% [60]. - Current liabilities totaled ¥237,577,833.64, a decrease from ¥238,928,956.96, showing a decline of about 0.6% [60]. - The company's equity attributable to shareholders increased to ¥678,479,767.57 from ¥663,819,710.95, marking an increase of approximately 2.2% [60]. Cash Flow - The company reported a net cash flow from operating activities of -¥139,924,397.27, a slight increase in outflow compared to the previous year [19]. - Cash inflow from sales of goods and services for Q1 2022 was approximately ¥121.41 million, a 32% increase from ¥92.03 million in Q1 2021 [73]. - Net cash outflow from operating activities for Q1 2022 was approximately -¥139.92 million, compared to -¥135.63 million in Q1 2021, indicating a slight increase in cash burn [73]. - Total cash inflow from investment activities in Q1 2022 was approximately ¥290.22 million, significantly higher than ¥183.86 million in Q1 2021 [74]. - Cash outflow for investment activities in Q1 2022 was approximately ¥341.69 million, compared to ¥36.45 million in Q1 2021, resulting in a net cash outflow of -¥51.48 million [74]. Shareholder Information - The registered capital of the company is ¥314,999,983 [15]. - Total unrestricted shares amount to 182,951,718, representing 58.08% of total shares [24]. - Total restricted shares amount to 132,048,265, representing 41.92% of total shares [24]. - The total share capital is 314,999,983 shares [24]. - The largest shareholder, Wang Jian, holds 70,736,761 shares, which is 22.46% of total shares [25]. - The second largest shareholder, a state-owned enterprise, holds 17,267,646 shares, representing 5.48% [25]. - The company has a total of 15,437 common shareholders [24]. - The company has committed to not misappropriating funds or assets through related party transactions, ensuring the protection of shareholder rights [36]. Equity Incentive Plan - The company has granted a total of 6 million stock options to 11 core employees as part of its equity incentive plan [33]. - As of the end of the reporting period, none of the 6 million stock options have been exercised [34]. - The total estimated share-based payment expense for the granted stock options is 7.8342 million yuan, which will be amortized based on the exercise ratio during the implementation of the incentive plan [34]. - The impact of the equity incentive plan on the company's net profit for Q1 2022 is approximately 909,375 yuan [34]. Operational Strategy - The company aims to enhance operational efficiency and reduce costs, targeting significant improvements in operating performance through better management practices [44]. - The company will strengthen the management of raised funds to ensure they are used effectively for core business projects, enhancing competitiveness and profitability [44]. - A commitment to improve talent management and performance evaluation systems is in place to boost development vitality [45]. - The company has established a clear profit distribution policy to enhance shareholder return mechanisms, ensuring transparency and protection of minority shareholders' rights [45]. Compliance and Commitments - The company has confirmed that all documents related to the public offering are free from false records or misleading statements, and all parties involved bear legal responsibility [51]. - The controlling shareholder and actual controller have committed to not transferring benefits unfairly or damaging the company's interests [46]. - If the company fails to fulfill commitments, it will publicly explain the reasons and may face salary reductions for responsible executives [49]. - In case of force majeure, the company will propose new commitments and take measures to minimize investor losses [49].

Financial Performance - The company's operating revenue for 2021 was ¥850,369,156.09, representing a 6.25% increase from ¥800,334,528.76 in 2020[33]. - The net profit attributable to shareholders for 2021 was ¥75,933,990.32, a 20.24% increase compared to ¥63,151,590.39 in 2020[33]. - The gross profit margin improved to 19.29% in 2021 from 16.61% in 2020[33]. - Total assets at the end of 2021 were ¥908,327,429.33, reflecting a 1.45% increase from ¥895,351,829.24 at the beginning of the year[35]. - Total liabilities decreased by 15.33% to ¥246,291,993.83 from ¥290,896,119.60 at the beginning of 2021[35]. - The company's weighted average return on equity was 12.04% in 2021, slightly down from 12.68% in 2020[33]. - The net cash flow from operating activities for 2021 was ¥19,833,329.71, a significant decrease of 77.84% from ¥89,488,240.13 in 2020[37]. - The basic earnings per share for 2021 was ¥0.24, up 9.09% from ¥0.22 in 2020[33]. - The company reported a total asset growth rate of 1.45% in 2021, down from 38.63% in 2020[38]. - The total non-recurring gains and losses for 2021 amounted to CNY 14,299,148.64, a significant increase from CNY 4,818,709.86 in 2020[46]. - The net amount of non-recurring gains and losses after tax for 2021 was CNY 12,964,590.50, compared to CNY 3,989,552.10 in 2020, reflecting a substantial growth[46]. Shareholder and Capital Structure - In May 2021, the company distributed a cash dividend of RMB 1 for every 10 shares, totaling RMB 20,400,000[3]. - In November 2021, the company completed a capital reserve distribution, increasing total shares from 210,000,000 to 314,999,983 by issuing 5.147058 shares for every 10 shares held[5]. - The company's total share capital at the end of 2021 was 314,999,983 shares, a 50% increase from 210,000,000 shares at the beginning of the year[40]. - The number of shares held by the top shareholder, Wang Jian, increased from 46,700,000 to 70,736,761, accounting for 22.46% of total shares[197]. - The number of shares held by the second-largest shareholder, Shanghai Yumi Investment Management Partnership, increased from 11,400,000 to 17,267,646, representing 5.48% of total shares[197]. - The company reported a significant increase in restricted shares from 87,177,500 to 132,048,265, which is a 51.5% increase[195]. - The total number of ordinary shares increased from 210,000,000 to 314,999,983, representing a change of approximately 49.76%[195]. - The proportion of unrestricted shares held by the controlling shareholder decreased from 58.49% to 58.08%[195]. - The company repurchased 6,000,000 shares, representing 1.90% of its total shares outstanding[199]. Customer and Revenue Concentration - The top five customers contributed RMB 48,202.26 million in revenue, accounting for 56.69% of the company's total revenue for the year[14]. - The company's accounts receivable at the end of the reporting period amounted to 312.29 million yuan, primarily from television stations and their affiliates, indicating strong creditworthiness and payment capacity[16]. - The company's major customers accounted for 56.69% of total sales, with the top five customers contributing significantly to revenue[90]. - The company aims to expand its product line and develop other brand channels to reduce customer concentration risk[143]. Technology and Innovation - The company has developed several core technologies, including 4K audio and video processing technology and big data content recommendation technology, which are crucial for maintaining competitive advantage in the rapidly evolving broadcasting and network audio-visual industry[15]. - The company has launched a 4K ultra-high-definition transcoder and an 8K professional decoder, supporting major events like the 70th National Day parade and the Winter Olympics[52]. - The company has developed the upgraded Gauss system, which enhances media coverage operational decision-making and integrates various data analysis functions[50]. - The AVS2 4K ultra-high-definition decoding and transcoding system was developed to meet the needs of national broadcasters, showcasing the company's commitment to technological advancement[116]. - The company is focusing on enhancing its integrated media service capabilities through the continuous upgrade of its technology and service offerings[51]. - Key R&D projects include advanced image recognition technology and a cloud-based messaging system, aimed at enhancing service offerings and operational efficiency[114][115]. - The company is committed to investing in R&D and training to keep pace with industry technology changes and maintain its profitability[146]. Governance and Risk Management - The company faces governance risks as its business expands, requiring higher standards in strategic planning and internal control[14]. - The company is enhancing its internal management and control systems to adapt to its expanding business scale and ensure sustainable development[135]. - The company has a risk associated with reliance on the broadcasting industry, as changes in capital expenditure and advertising revenue could adversely affect its main business[16]. - The company is exposed to risks from industry policy changes, which could impact its operations if macroeconomic policies or regulatory frameworks shift significantly[15]. - The company has a strict bad debt provision policy for long-aged accounts receivable to accurately reflect its asset status[137]. - The company plans to strengthen its collection efforts and improve its receivables management to mitigate bad debt risks[137]. - The company is at risk of non-compliance in its satellite digital receiver business due to reliance on a third-party manufacturer[154]. - The company has ongoing litigation with a total claim amount of 3,731,722.30 yuan, representing 0.56% of the net assets at the end of the reporting period[158]. Strategic Initiatives and Future Outlook - The company is focusing on business integration to enhance operational efficiency, aiming to create a collaborative mechanism among its various business units[16]. - The company is actively working on the "Hundred Cities, Thousand Screens" ultra-high-definition initiative, supporting cities to establish public screens for broadcasting high-quality content[132]. - The company aims to officially launch its 5G services as a top priority, focusing on building a differentiated advantage in the 5G sector and accelerating the integration of wired and 5G networks[128]. - Future outlook includes continued investment in R&D and expansion of product offerings to capture market opportunities in the evolving digital landscape[111][114]. - The company is committed to developing the data value of the Hubble platform to support its own operations and provide industry data reports for partners[56]. Taxation and Incentives - The company has been recognized as a high-tech enterprise since July 2015, benefiting from a 15% corporate income tax rate, which was reaffirmed in September 2018 and December 2021[17]. - Tax incentives accounted for 15.64% of the company's total profit during the reporting period, highlighting the importance of these benefits to financial performance[20]. - The company enjoys a 15% corporate income tax rate as a high-tech enterprise for the years 2021-2023[107]. - The company has received tax exemptions for five years starting from the first year of revenue generation, benefiting from policies in special economic zones[150]. Employee and Talent Management - The company has implemented measures to attract and retain talent, as the industry is talent-intensive and requires high-quality management for future expansion[20]. - The company faces risks related to talent retention, particularly in a talent-intensive industry, which could impact future business expansion[153]. - The total number of R&D personnel increased from 31 to 34, with the proportion of R&D staff in total employees rising from 27.64% to 31.31%[112]. - The company has committed to strengthening talent management and establishing a competitive incentive mechanism to boost development vitality[183]. Compliance and Legal Matters - The company has not reported any overdue or unrecoverable principal amounts in its financial products[98]. - The company has no significant litigation or arbitration matters pending during the reporting period[160]. - The company guarantees that the public offering prospectus does not contain false records or misleading statements, and assumes legal responsibility for its accuracy[189]. - The company has commitments to bear legal responsibilities, ensuring compliance with laws and regulations[175].

Group 1: Company Overview and Investor Engagement - Beijing Liu Jin Sui Yue Media Technology Co., Ltd. conducted an investor survey on December 15, 2021, involving 6 institutions [1][2] - The survey was facilitated through an online format, with participation from notable firms such as Zhongtai Securities and Dongfang Securities [2] Group 2: Business Growth and Profitability - The company's rapid growth in main business is driven by its proprietary Gauss system, which enhances TV station coverage efficiency and reduces costs [3][4] - Recent years have seen a decline in gross profit margin due to increased contract amounts for coverage services, leading to concessions on larger projects [4] - Future gross profit margin improvements depend on potential adjustments in marketing strategies, particularly the abandonment of low-margin projects [4] Group 3: Technological Advancements - The Gauss system has been continuously upgraded, providing a competitive edge by leveraging accumulated data for better coverage solutions [4] - The company focuses on live streaming media distribution, particularly in the broadcasting sector, and has developed specialized decoding equipment for high-definition and 4K content [4][6] Group 4: Market Position and Competition - The company holds a significant share in the broadcasting field, contrasting with competitors like Hangzhou Donghong Technology, which focuses on new media [4][6] - The company is exploring partnerships with chip manufacturers for 4K/8K applications, particularly in the context of upcoming projects like the Olympic Channel [6] Group 5: Content Strategy and Future Directions - The company aims to enhance its content strategy by focusing on vertical streaming media, copyright operations for PGC and UGC content, and niche sports content [8] - There is an emphasis on improving distribution efficiency for existing film and television inventory to avoid resource waste [8] - The potential for VR technology in content consumption is being explored, with expectations for advancements in viewing experiences [8]