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 ...