Financial Performance - Revenue decreased from RMB 1,799.8 million in H1 2021 to RMB 1,191.4 million in H1 2022, representing a decline of approximately 33.8%[21] - Gross profit for H1 2022 was RMB 622.4 million, down from RMB 1,045.5 million in H1 2021, indicating a decrease of about 40.5%[21] - Net profit for H1 2022 was RMB 151.9 million, compared to RMB 387.1 million in H1 2021, reflecting a decline of approximately 60.8%[21] - Adjusted EBITDA for H1 2022 was RMB 282.0 million, down from RMB 625.7 million in H1 2021, a decrease of around 55.0%[21] - The gross profit margin fell from 58.1% in 2021 to 52.2% in 2022, indicating a decrease in profitability[32] - Online entertainment ticketing service revenue dropped by 41.6% from RMB 1,013.5 million in 2021 to RMB 592.3 million in 2022, primarily due to the impact of the pandemic[35] - Revenue from entertainment content services decreased by 19.2% from RMB 660.1 million in 2021 to RMB 533.4 million in 2022, attributed to adjustments in film production and release schedules[36] - Advertising services and other revenue fell by 47.9% from RMB 126.2 million in 2021 to RMB 65.7 million in 2022, mainly due to reduced demand in the advertising market[37] - Operating profit decreased significantly from RMB 509.5 million in H1 2021 to RMB 184.7 million in H1 2022[46] - The company reported a net loss of RMB 151,865 thousand for the period, contributing to accumulated losses of RMB (109,841) thousand as of June 30, 2022[97] Market and Operational Insights - The total box office revenue for the Chinese film market in H1 2022 was RMB 17.18 billion, a year-on-year decline of 37.68%[23] - The company participated in the production/distribution of 15 films in H1 2022, maintaining a significant market share comparable to 2019 levels[23] - The company’s film "This Killer Is Not So Calm" achieved a total box office of RMB 2.63 billion during the Spring Festival[23] - Post-June 2022, cinema operating rates exceeded 80% as the domestic pandemic situation improved, allowing for a gradual recovery in film releases[25] - The company developed and produced several high-quality series and online films, with positive reception for the legal suspense series "Outside the Court" launched in July 2022[25] - The online ticketing service maintained industry-leading status, with over 70% of cinemas improving operational efficiency through the company's services[26] - The summer box office reached approximately RMB 7.9 billion, exceeding the same period last year, reflecting confidence in market recovery[29] Financial Position and Assets - Total assets decreased from RMB 11,028.3 million as of December 31, 2021, to RMB 10,669.7 million as of June 30, 2022[51] - Total liabilities decreased from RMB 3,040.7 million as of December 31, 2021, to RMB 2,483.2 million as of June 30, 2022, resulting in a debt-to-asset ratio decline from 27.6% to 23.3%[51] - As of June 30, 2022, the company's cash and cash equivalents amounted to RMB 2,419.6 million, primarily denominated in RMB and USD[52] - The total borrowings as of June 30, 2022, were approximately RMB 340.3 million, all in RMB-denominated bank loans[52] - The company reported a total of RMB 1,427,264,000 in film and television investment and production prepayments as of June 30, 2022, an increase from RMB 1,253,630,000 as of December 31, 2021, reflecting a growth of approximately 13.8%[170] Shareholder and Equity Information - As of June 30, 2022, major shareholder Vibrant Wide Limited holds 119,236,553 shares, representing approximately 10.43% of the issued share capital[74] - Tencent holds 157,169,260 shares in the company, accounting for approximately 13.74% of the issued share capital[74] - The board decided not to declare an interim dividend for the six months ended June 30, 2022[62] - The company reported a total equity as of June 30, 2022, of RMB 8,186,531 thousand, an increase from RMB 7,987,672 thousand at the beginning of the year, reflecting a growth of about 2.5%[97] Risk Management and Compliance - The group faces multiple financial risks, including market risk, credit risk, and liquidity risk, with no significant changes in risk management policies since December 31, 2021[112] - The maximum credit risk faced by the group is represented by the carrying amounts of cash and cash equivalents, restricted bank deposits, and accounts receivable[113] - The group has established monitoring procedures to ensure timely follow-up on overdue debts and reviews the recoverability of trade receivables at each reporting period[114] - The company is monitoring regulatory changes and will take further actions as necessary, reflecting a proactive approach to compliance and market adaptation[89] Employee and Incentive Plans - The employee incentive plan has been extended and restructured from the 2016 ESOP, aimed at rewarding contributions to the company's growth[78] - The total number of unexercised stock options as of June 30, 2022, was 16,736,611 shares[79] - The company reported a share-based payment expense of RMB 12,735 thousand for the six months ended June 30, 2022, down from RMB 28,020 thousand for the same period in 2021, representing a decrease of approximately 54.5%[183] Future Plans and Investments - The company plans to continue enhancing its marketing capabilities and exploring new opportunities in the entertainment industry[31] - The company plans to allocate approximately $551.8 million for enhancing comprehensive platform capabilities, with $476.4 million already utilized and $75.4 million remaining as of December 31, 2022[69] - The company has set aside $551.8 million for potential investments and acquisitions, with $434.4 million utilized and $117.4 million remaining as of December 31, 2022[69] - The company plans to continue expanding its market presence and developing new technologies to enhance user engagement and revenue streams[176]

Financial Data and Key Metrics Changes - The company reported its first half 2022 earnings, with specific financial results available on the investor relations website [1] Business Line Data and Key Metrics Changes - No specific details regarding changes in business line data or key metrics were provided in the content [1] Market Data and Key Metrics Changes - No specific market data or key metrics changes were mentioned in the content [1] Company Strategy and Development Direction and Industry Competition - No information regarding company strategy, development direction, or industry competition was included in the content [1] Management's Comments on Operating Environment and Future Outlook - No comments from management regarding the operating environment or future outlook were provided in the content [1] Other Important Information - The conference call was structured to allow for questions after the presentation, indicating an interactive session for stakeholders [1] Q&A Session All Questions and Answers - No specific questions or answers from the Q&A session were included in the content [1]

Financial Performance - Revenue increased from RMB 1,365.7 million in 2020 to RMB 3,323.4 million in 2021, representing a growth of approximately 143%[12] - Gross profit rose from RMB 537.3 million in 2020 to RMB 1,842.2 million in 2021, marking an increase of about 243%[12] - The net profit for 2021 was RMB 368.5 million, a significant turnaround from a net loss of RMB 646.3 million in 2020[12] - Adjusted EBITDA for 2021 was RMB 742.7 million, compared to an adjusted LBITDA of RMB 360.3 million in 2020[12] - Revenue increased by 143.3% from RMB 1,365.7 million in 2020 to RMB 3,323.4 million in 2021, driven by the recovery of the Chinese film market and online entertainment ticketing services[22] - Online entertainment ticketing service revenue rose by 126.5% from RMB 756.5 million in 2020 to RMB 1,713.7 million in 2021, as cinemas resumed operations[24] - Entertainment content service revenue surged by 284.0% from RMB 353.3 million in 2020 to RMB 1,356.5 million in 2021, attributed to increased participation in film projects[25] - Gross profit increased by RMB 1,304.9 million or 242.9% to RMB 1,842.2 million, with a gross margin improvement from 39.3% in 2020 to 55.4% in 2021[29] - The operating profit for 2021 was RMB 538.3 million, compared to an operating loss of RMB 604.2 million in 2020[35] - The adjusted net profit for 2021 was RMB 540.0 million, compared to an adjusted loss of RMB 435.6 million in 2020[41] - EBITDA for 2021 was RMB 709.3 million, recovering from an EBITDA loss of RMB 432.9 million in 2020[42] Box Office Performance - The company participated in the release of 51 domestic films in 2021, achieving a total box office of approximately RMB 26 billion, accounting for about 65% of the national box office for domestic films during the same period[14] - The film "Hello, Li Huanying" generated over RMB 5.4 billion at the box office, ranking third in Chinese film history[14] - The film "The Rescue" achieved a total box office of over RMB 1.3 billion, becoming the annual champion for Chinese action films[14] - In 2021, China's total box office reached RMB 47.258 billion, maintaining its position as the world's largest market, with domestic films accounting for RMB 39.927 billion, representing 84.5% of the total[17] - The box office performance during key holiday periods in 2021 exceeded that of the same periods in 2019, indicating a strong recovery in the Chinese film market[17] - The total box office for the 2022 Spring Festival period reached RMB 6.035 billion, surpassing the same period in 2019 and ranking as the second highest in Chinese film history[20] - The total box office in China for 2021 recovered to 74% of pre-pandemic levels, maintaining the highest global box office and screen count[67] Marketing and Innovation - The company has developed a unique intelligent marketing product system, achieving industry-leading service coverage and continuous innovation in promotional services[16] - The company launched new intelligent marketing tools, such as screening diagnosis and target decomposition, which have been widely recognized in the market[16] - The company has established a modular and standardized promotional capability, supported by professional teams for various film projects[16] - The company is committed to the "Technology + Full Entertainment" core development strategy, aiming to enhance competitiveness and innovation capabilities[20] Cost and Expenses - Cost of revenue rose by 78.8% from RMB 828.4 million in 2020 to RMB 1,481.2 million, mainly due to increased ticketing system costs and content production expenses[27] - Selling and marketing expenses increased by 38.4% from RMB 485.8 million in 2020 to RMB 672.5 million in 2021, reflecting higher operational marketing costs[30] - General and administrative expenses increased by 1.9% from RMB 353.6 million in 2020 to RMB 360.2 million in 2021, primarily due to growth in R&D expenses[31] Assets and Liabilities - Total assets increased from RMB 10,608.5 million on December 31, 2020, to RMB 11,028.3 million on December 31, 2021, while total liabilities rose from RMB 2,985.5 million to RMB 3,040.7 million[44] - The debt-to-asset ratio decreased from 28.1% in 2020 to 27.6% in 2021[44] - Cash and cash equivalents amounted to RMB 2,593.8 million as of December 31, 2021[46] - Total borrowings were approximately RMB 512.5 million, all denominated in RMB, with unutilized bank financing of RMB 522.9 million[47] Corporate Governance - The board consists of one executive director, seven non-executive directors, and four independent non-executive directors[175] - The company has adopted corporate governance principles that align with the interests of the company and its shareholders[173] - The independent non-executive directors confirmed their independence according to the listing rules[177] - The company’s chairman and CEO positions are held by different individuals, ensuring a clear division of responsibilities[183] - The company has established three board committees: the audit committee, the remuneration committee, and the nomination committee, in accordance with relevant laws and regulations[190] Shareholder Information - The top five customers accounted for approximately 40% of the total revenue, with the largest customer contributing about 12%[71] - The top five suppliers represented around 26% of the total costs, with the largest supplier accounting for about 7%[71] - The chairman and non-executive director, Mr. Wang Changtian, indirectly holds approximately 24.35% and 16.95% of the company's issued share capital through subsidiaries as of December 31, 2021[86] - As of December 31, 2021, major shareholders held significant stakes, with Wang Changtian owning 312,722,773 shares, accounting for 27.39% of the company[111] Related Party Transactions - The annual cap for related transactions with Light Media Group for the year ending December 31, 2021, was RMB 130 million, with actual transaction amounts of approximately RMB 2.3 million[133] - The annual cap for related transactions with Tencent Group for the year ending December 31, 2021, was RMB 180 million, with actual transaction amounts of approximately RMB 40.3 million[137] - The annual cap for related transactions with Tencent Music Technology for the year ending December 31, 2021, was RMB 353.4 million, with actual transactions amounting to approximately RMB 120.0 million[142] Legal and Regulatory Compliance - The company is committed to complying with applicable laws and regulations in China, including those related to value-added telecommunications services and information security[69] - The company has not faced any intervention or obstruction from Chinese government authorities regarding its business operations as of December 31, 2021[161] - The company has taken measures to ensure compliance with contractual arrangements, including annual reviews by the board and potential engagement of external legal advisors[165]

| --- | --- | |------------------------------------------------------------------------------------------------------------------------------|-------------------------| | | | | | | | | | | | | | | | | | | | MAOYAN ENTERTAINMENT | 2021 | | (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立的有限公司 ) Stock Code 股份代號 : 1896 | Interim Report 中期報告 | 目錄 其他信息 17 中期財務資料審閱報告 26 中期簡明綜合全面收益表 27 中期簡明綜合財務狀況表 29 中期簡明綜合權益變動表 31 公司資料2 首席執行官報告4 管理層討論及分析8 中期簡明綜合現金流量表 33 中期簡明綜合財務資料附註 35 釋義及詞彙表 82 公司資料 董事會 執行 ...

Interim Report 2020 中期報告 MAOYAN ENTERTAINMENT 2020 Interim Report 中期報告 (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立的有限公司 ) Stock Code 股份代號 : 1896 目錄 貓眼娛樂 | 2020中期報告 1 | --- | --- | |---------------------------------|-------| | | | | | | | 公司資料 | 2 | | 首席執行官報告 | 4 | | 管理層討論及分析 | 9 | | 其他信息 中期財務資料審閱報告 | 18 27 | | | | | 中期簡明綜合全面收益表 | 28 | | 中期簡明綜合財務狀況表 | 30 | | 中期簡明綜合權益變動表 | 32 | | 中期簡明綜合現金流量表 | 34 | | 中期簡明綜合財務資料附註 | 36 | | 釋義及詞彙表 | 80 | 公司資料 董事會 執行董事 鄭志昊先生（首席執行官） 非執行董事 王長田先生（董事長） 李曉 ...