Box Office and Film Industry Performance - In 2022, the total box office revenue for the Chinese film market was 30.067 billion yuan, a decline of approximately 36.4% compared to 2021, with a loss of 17.19 billion yuan year-on-year[7]. - The number of new cinema openings in 2022 was 770, representing a year-on-year decrease of 30.3%[10]. - The number of film projects approved for production in 2022 was 1,876, significantly lower than in previous years, indicating a potential cyclical impact on future content supply[7]. - The proportion of domestic films in the total box office was 84.85%, with domestic films generating 25.511 billion yuan in revenue[7]. - The number of new films released in 2022 was 325, a decrease of 222 films compared to the previous year, with only 39 films surpassing 100 million yuan at the box office[9]. - The average daily box office fell below 20 million yuan for 108 days in 2022, highlighting the market's struggles[9]. Gaming Market Performance - The total revenue from the gaming market in China for 2022 was 265.884 billion yuan, a decrease of 10.33% year-on-year, with mobile gaming revenue dropping by 14.40% to 193.058 billion yuan[13]. - The gaming user base in China was 664 million, showing a slight decline of 0.33% year-on-year[13]. - The gaming business showed signs of recovery with the mobile game "Attack City" entering a stable phase during the reporting period[35]. Cultural Industry Overview - In 2022, the national cultural industry achieved operating income of CNY 121,805 billion, a year-on-year increase of 0.9%[16]. - Among nine cultural sectors, five sectors including content creation and cultural investment operations saw revenue growth, with increases of 3.4%, 3.3%, and 3.2% respectively[17]. - The cultural new business model sectors generated operating income of CNY 43,860 billion in 2022, growing by 5.3%, which is 4.4 percentage points faster than the overall cultural enterprises[17]. - The government introduced 43 specific measures to support the recovery of the service industry, including the cultural and tourism sectors, reflecting a strong commitment to revitalizing the market[17]. - The "Cultural +" initiative is gaining attention, emphasizing the integration of culture with various industries to drive economic growth[15]. - The expansion of the online game approval pilot program aims to simplify the game license approval process, enhancing efficiency and supporting industry development[15]. - The "14th Five-Year" cultural development plan was issued to guide the implementation of cultural policies across regions and departments[20]. Company Financial Performance - Total assets decreased by 30.43% to approximately ¥5.02 billion in 2022 compared to ¥7.22 billion in 2021[27]. - Net profit attributable to shareholders decreased by 60.97% to approximately -¥1.31 billion in 2022 from -¥578.86 million in 2021[27]. - Operating revenue increased by 3.05% to approximately ¥799.73 million in 2022 compared to ¥776.09 million in 2021[27]. - The company reported a cash flow from operating activities of approximately ¥74.11 million, a decrease of 42.46% from ¥128.81 million in 2021[27]. - The first quarter of 2022 saw operating revenue of approximately ¥225.12 million, with a net profit of approximately -¥79.65 million[30]. - The fourth quarter of 2022 reported operating revenue of approximately ¥228.64 million, with a net profit of approximately -¥963.07 million[30]. - The company's operating revenue for the reporting period was 800 million, representing a growth of 3.05% compared to 2021[35]. - The net assets attributable to shareholders decreased by 60.97% to 835 million by the end of 2022[36]. - The company incurred a total loss of 1.273 billion during the reporting period due to various factors including asset impairment and bad debt losses[35]. - Fixed asset impairment losses amounted to 22 million, and accelerated amortization of long-term prepaid expenses was 102 million[35]. - The company recognized goodwill impairment losses of 356 million and prepaid account impairment losses of 112 million due to market changes[35]. Company Strategy and Operations - The company operates in the film and gaming sectors, focusing on cinema management, film investment, and game development[22]. - The cinema operation model includes revenue from ticket sales, merchandise, and advertising, while film production involves careful market analysis and collaboration with partners[22]. - The company aims to diversify its revenue channels through horizontal and vertical investments in the cultural sector[25]. - The company has established a presence in the Winter Olympics cultural activities, with rights to produce and retail various licensed products[24]. - The total number of ordinary shareholders increased to 45,747 by the end of the reporting period[31]. - The largest shareholder, Beijing Cultural Investment Holdings, holds 20.35% of the shares, with 377,389,466 shares pledged[31]. - The total share capital remained unchanged at 1.854 billion shares compared to the previous period[36].

Financial Performance - The company's operating revenue for Q3 2022 was ¥192,044,354.28, representing a year-on-year increase of 73.75%[6] - The net profit attributable to shareholders was a loss of ¥97,603,159.74, with a year-to-date net profit of ¥309,450,510.26[6] - The basic and diluted earnings per share for the quarter were both -¥0.05, compared to -¥0.17 for the same period last year[7] - The net profit for the third quarter of 2022 was a loss of CNY 313,832,081.68, worsening from a loss of CNY 280,704,914.54 in the same quarter of 2021[23] - The company reported a basic and diluted earnings per share of -0.17 CNY for the third quarter of 2022, compared to -0.15 CNY in the same quarter of 2021[24] - The total comprehensive loss for the third quarter of 2022 was CNY 313,832,081.68, compared to a loss of CNY 273,056,608.50 in the same quarter of 2021[24] - The net profit for Q3 2022 was -169,359,447.40 RMB, compared to -138,813,996.25 RMB in Q3 2021, indicating a decline of approximately 22% year-over-year[35] - The company reported a total comprehensive loss of -169,359,447.40 RMB for Q3 2022, compared to -138,813,996.25 RMB in Q3 2021[36] Assets and Liabilities - The total assets at the end of the reporting period were ¥6,166,864,086.07, a decrease of 14.57% compared to the end of the previous year[7] - Total assets decreased to ¥6,166,864,086.07 from ¥7,218,958,535.00 year-over-year[18] - Total non-current assets as of September 30, 2022, are ¥4,780,225,541.41, up from ¥4,559,416,344.08 at the end of 2021[18] - The total liabilities as of the third quarter of 2022 were CNY 4,361,199,372.60, down from CNY 5,099,461,739.85 in the previous year, a decrease of approximately 14.5%[22] - The total liabilities increased to ¥3,616,831,646.62 from ¥3,540,752,969.73 year-over-year[32] - Total liabilities include other payables of ¥1,401,233,993.83, down from ¥2,154,197,135.72 year-over-year[18] Cash Flow - The company reported a net cash flow from operating activities of ¥66,966,926.86 for the year-to-date period[7] - The net cash flow from operating activities for Q3 2022 was ¥66,966,926.86, a significant improvement compared to a net cash outflow of ¥551,636.17 in Q3 2021[28] - The net cash flow from operating activities for the first three quarters of 2022 was -117,578,703.30 RMB, worsening from -26,714,274.30 RMB in the same period of 2021[36] - Total cash inflow from investment activities reached ¥989,055,582.74, while cash outflow was ¥3,446,142.85, resulting in a net cash inflow of ¥985,609,439.89[28] - The net cash flow from investment activities for the first three quarters of 2022 was 968,055,775.24 RMB, compared to -17,030,654.87 RMB in the same period of 2021[37] - The net cash flow from financing activities was -¥1,044,118,536.15, indicating a substantial outflow compared to -¥183,747,756.01 in the previous year[29] - The company incurred total cash outflows from financing activities of 1,144,603,432.92 RMB in the first three quarters of 2022, compared to 681,261,278.68 RMB in the previous year[37] Shareholder Information - Total number of common shareholders at the end of the reporting period is 51,971[14] - The largest shareholder, Beijing Cultural Investment Holdings Co., Ltd., holds 377,389,466 shares, accounting for 20.35% of total shares[15] Research and Development - Research and development expenses rose by 50.31% as the company intensified its efforts in game product development[11] - Research and development expenses for the first three quarters of 2022 were CNY 57,949,570.14, up from CNY 38,552,812.81 in 2021, marking an increase of about 50.7%[22] Inventory and Receivables - The company experienced a 55.71% increase in inventory due to the completion of new film projects[11] - Accounts receivable increased to ¥429,763,168.35 from ¥399,745,566.02 year-over-year[17] - Inventory has risen to ¥373,275,189.59 compared to ¥239,728,666.18 in the previous year[17]

证券代码：600715 证券简称：文投控股 公告编号：2022-057 文投控股股份有限公司 关于参加辽宁辖区上市公司投资者网上集体接待日 活动暨召开业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2022 年 9 月 15 日（星期四)下午 15:30-17:00 会议召开地点：全景网投资者关系互动平台（网址：https://ir.p5w.net/） 会议召开方式：网络图文互动 为进一步加强与投资者的互动交流，文投控股股份有限公司（以下简称"公 司"）计划于 2022 年 9 月 15 日（星期四）下午 15:30-17:00 参加辽宁辖区上市 公司投资者网上集体接待日活动，并召开业绩说明会，就投资者关心的问题进行 交流。 一、 说明会类型 本次会议以网络图文互动形式召开，公司将与投资者进行互动交流和沟通， 在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一） 会议召开时间：2022 年 9 月 15 日下午 15:30-17:00 （二 ...

Financial Performance - The company reported a revenue of CNY 379 million for the first half of 2022, a decrease of 14.72% compared to the same period last year[17]. - The net profit attributable to shareholders was a loss of CNY 211 million, worsening from a loss of CNY 111 million in the previous year[17]. - The basic earnings per share were -CNY 0.11, compared to -CNY 0.06 in the same period last year[19]. - The company reported a loss of 216.01 million yuan in the first half of 2022, significantly impacted by the resurgence of COVID-19 in major cities like Shanghai and Beijing, leading to a notable decline in cinema and film business performance[122]. - The total comprehensive income for the first half of 2022 was a loss of CNY -115,488,633.95, highlighting a challenging financial environment[167]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 71.94% to CNY 86 million compared to the same period last year[17]. - The company's cash and cash equivalents increased by 939.92% to approximately 994.9 million yuan, largely due to receiving 954 million yuan from the disposal of underlying assets in a trust[62]. - The cash interest coverage ratio dropped by 52.04% to 1.65, indicating a significant decrease in the company's ability to cover interest expenses with cash flow[124]. - The company is actively pursuing external financing to ensure stable cash flow and is focusing on accelerating accounts receivable collection and asset disposal to enhance liquidity[122]. Business Segments and Operations - The company experienced significant growth in its licensed business due to the successful hosting of the Beijing Winter Olympics, which positively impacted revenue[19]. - The gaming business showed signs of stabilization with the launch of the mobile game "Attack City" contributing to performance improvement[19]. - The cinema and film business faced severe impacts due to recurring COVID-19 outbreaks in major cities, leading to a noticeable decline in performance[19]. - The company’s cinema operations generate revenue through ticket sales, merchandise, and advertising, with a focus on enhancing viewer experience[25]. - The company is actively involved in the "Cultural+" business, leveraging its brand and IP resources for diversified revenue streams[26]. Market Trends and Challenges - The total box office revenue for the first half of 2022 was 17.186 billion, with a total of 174 films released, resulting in 397 million viewers[27]. - The number of screenings decreased by 20.17% year-on-year, marking a historic decline in screening sessions[28]. - The company experienced a 41.66% drop in audience attendance compared to the previous year, particularly during the months of March to May 2022[28]. - The film investment and production sector faced challenges due to prolonged pandemic effects, leading to a significant drop in quality content supply[28]. - The actual sales revenue of the Chinese gaming market in the first half of 2022 was 147.79 billion yuan, a year-on-year decrease of 1.8%, marking the first decline in recent years[30]. Strategic Initiatives - The company aims to expand its market presence through strategic mergers and acquisitions in the cultural sector[26]. - The company is focusing on extending the lifecycle of existing games through continuous innovation and targeted marketing strategies[54]. - The company plans to continue promoting quality project collaborations and increase revenue through various forms of joint distribution and investment[50]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its offerings[151]. Financial Health and Ratios - The company's current ratio decreased by 18.39% to 0.57 compared to the end of the previous year, indicating a decline in short-term financial health[123]. - The debt-to-asset ratio increased to 73.26%, up by 2.62% from the previous year, reflecting a higher level of financial leverage[123]. - The company reported a 100% loan repayment rate, maintaining its commitment to meet debt obligations[124]. - The total liabilities increased to CNY 5.21 billion, up from CNY 5.10 billion, indicating a rise in financial obligations[129]. Future Outlook - Future outlook indicates a focus on expanding market presence and enhancing product offerings, with a strategic emphasis on cultural and creative industries[116]. - The company plans to optimize inventory management and enhance operational efficiency to improve profitability and cash flow amidst ongoing financial pressures[122]. - The company is committed to maintaining transparency and accuracy in its financial reporting and stakeholder communications[151]. Corporate Governance and Compliance - The company appointed a new CFO, Xiong Yisen, on January 14, 2022, following the resignation of the previous CFO, Wang Dehui[92]. - There are no changes in the controlling shareholder or actual controller during the reporting period, ensuring stability in governance[117]. - The company is committed to protecting its intellectual property rights amid increasing risks of copyright infringement in the digital age[85]. Social Responsibility - The company actively promotes energy-saving and emission-reduction practices, achieving a reduction in paper usage through paperless operations[96]. - The company continues to engage in poverty alleviation activities and supports agricultural product sales in impoverished areas[98].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 225,116,942.50, a decrease of 32.06% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of CNY 79,649,852.73, representing a decline of 839.54% year-on-year[6]. - Basic and diluted earnings per share were both -CNY 0.04, a decrease of 839.54% compared to the previous year[7]. - The company reported a significant decline in operating income due to the impact of the pandemic on the film market, leading to a substantial drop in cinema revenue[10]. - Total operating revenue for Q1 2022 was CNY 225.12 million, a decrease of 32.0% compared to CNY 331.32 million in Q1 2021[19]. - Net profit attributable to shareholders of the parent company for Q1 2022 was a loss of CNY 79.65 million, compared to a profit of CNY 10.77 million in Q1 2021[21]. - The company reported a net loss of CNY 81.86 million for Q1 2022, contrasting with a net profit of CNY 10.43 million in Q1 2021[20]. - Cash received from sales of goods and services in Q1 2022 was CNY 250.79 million, a decrease of 3.4% from CNY 258.68 million in Q1 2021[22]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 157.25% to CNY 47,389,655.94[7]. - Net cash flow from operating activities for Q1 2022 was CNY 47,389,655.94, an increase from CNY 18,421,285.30 in Q1 2021, reflecting a growth of 156.5%[23]. - Total cash inflow from financing activities was CNY 219,950,000.00, while cash outflow was CNY 316,534,943.93, resulting in a net cash flow of -CNY 96,584,943.93 for Q1 2022[24]. - The total cash and cash equivalents at the end of Q1 2022 were ¥8,254,618.51, down from ¥255,413,301.42 at the end of Q1 2021[33]. - The company received cash inflows of ¥218,000,000.00 from financing activities in Q1 2022, compared to ¥408,110,000.00 in Q1 2021[33]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,183,350,073.53, a decrease of 0.49% from the end of the previous year[7]. - Total liabilities as of March 31, 2022, were RMB 3,829,576,052.61, slightly up from RMB 3,776,774,818.93, reflecting an increase of approximately 1.4%[17]. - The total assets amounted to RMB 7,183,350,073.53, a slight decrease from RMB 7,218,958,535.00, showing a decline of approximately 0.5%[17]. - The company's total liabilities increased to CNY 3,811,261,152.94 from CNY 3,540,752,969.73, indicating a rise of approximately 7.6%[28]. - Total current assets amounted to RMB 2,173,561,777.03, a decrease from RMB 2,659,542,190.92 as of December 31, 2021, reflecting a decline of approximately 18.2%[16]. Investment and Other Income - Investment income increased by 232.55% due to dividends received from invested enterprises during the reporting period[10]. - The company did not report any investment income in Q1 2022, contrasting with an investment income of ¥754,716.98 in Q1 2021[30]. Operational Costs - Total operating costs for Q1 2022 were CNY 318.86 million, slightly down by 3.0% from CNY 330.65 million in Q1 2021[20]. - The company incurred sales costs of ¥24,687,903.59 in Q1 2022, which is an increase from ¥13,349,287.99 in Q1 2021[29]. - The company’s management expenses for Q1 2022 were ¥11,595,823.65, slightly down from ¥11,868,895.97 in Q1 2021[29]. Equity and Shareholder Information - Shareholders' equity attributable to the parent company was CNY 2.06 billion in Q1 2022, down from CNY 2.14 billion in the previous period[20]. - The company reported a total equity of CNY 6,552,368,766.76 as of March 31, 2022, a slight decrease from CNY 6,611,072,340.97 at the end of 2021[28]. Other Observations - The company has not provided any updates on new product developments or market expansion strategies during this reporting period[15].

Financial Performance - The company's operating revenue for 2021 was ¥776,093,582.01, representing a 46.99% increase compared to ¥527,986,746.42 in 2020[19] - The net profit attributable to shareholders of the listed company was -¥718,013,713.74, an improvement from -¥3,462,649,263.23 in 2020[19] - The net cash flow from operating activities was ¥128,806,499.35, a decrease of 28.73% from ¥180,739,060.96 in 2020[20] - The total assets at the end of 2021 were ¥7,218,958,535.00, a slight decrease of 0.34% from ¥7,243,344,394.45 at the end of 2020[20] - The company's net assets attributable to shareholders decreased by 24.89% to ¥2,139,162,938.44 from ¥2,848,178,743.29 in 2020[20] - The basic earnings per share for 2021 was -¥0.39, an improvement from -¥1.87 in 2020[21] - The weighted average return on equity was -27.81% for 2021, compared to -74.16% in 2020[21] - The company did not distribute profits or increase capital reserves in 2021, as approved by the board[5] Market and Industry Overview - In 2021, the total box office in China reached 47.258 billion yuan, an increase of 131% compared to 2020, maintaining the position as the world's largest film market[43] - The number of new films released in 2021 was 554, representing an increase of 81.6% from 2020[44] - Domestic films accounted for 39.927 billion yuan of the total box office, making up 84.49% of the market share[44] - The average ticket price in China rose to 40.3 yuan in 2021, an increase of 8.9% year-on-year[46] - The number of cinemas in operation reached 12,400, a year-on-year growth of 2.7%[45] - The total revenue of the Chinese gaming market in 2021 was 296.513 billion yuan, a year-on-year increase of 6.4%[49] - The mobile gaming market generated 225.538 billion yuan in revenue, accounting for 76.06% of the total gaming market[49] - The user base for mobile games reached 666 million, showing a slight growth of 0.22% year-on-year[49] Company Operations and Strategy - The company operated 73 cinemas with a total of 533 screens as of the end of 2021, having closed one underperforming cinema[31] - The company implemented significant cost control measures, including negotiating rent reductions and managing labor and procurement costs to mitigate losses caused by the pandemic[31] - A dual platform for business and financial management was launched in collaboration with Alibaba Cloud, integrating data across membership, stores, and headquarters[31] - The company completed the transition of 22 cinemas to its film investment and distribution operations during the reporting period[31] - The company adjusted its film project evaluation system to ensure prudent investment decisions in response to market changes[31] - The company is actively expanding its market presence, planning to enter overseas markets including Taiwan, Japan, South Korea, and Vietnam in 2022[38] - The company is focusing on developing key projects related to the Winter Olympics, enhancing its capabilities in major thematic productions[35] Risks and Challenges - The company faced significant losses in the past two years due to the severe impact of the pandemic on its cinema and film business[21] - The company has outlined potential risks in its future development discussions, emphasizing the need for investor caution[10] - The gaming industry is experiencing increased regulatory scrutiny, which may impact the company's operations if not addressed promptly[130] - The company is under pressure from intensified market competition, particularly in the gaming sector, which demands higher quality products[130] - Changes in audience preferences pose a risk to the company's film projects, as viewer demands are influenced by various social factors[129] Governance and Management - The board of directors consists of 9 members, including 3 independent directors, meeting legal requirements with independent directors making up 1/3 of the total[134] - The company held 4 shareholder meetings during the reporting period, approving a total of 22 proposals, including the annual financial report and the appointment of new directors and supervisors[141] - The company established a performance evaluation and incentive mechanism linking managerial compensation to company performance and individual achievements[137] - The supervisory board is composed of 5 members, including 2 employee supervisors, complying with legal requirements[135] - The company ensures independent operations between the controlling shareholder and the listed company, maintaining autonomy in business, personnel, assets, and finance[137] Future Outlook - The company anticipates the film market to stabilize around the levels of 2016 to 2017, with potential for box office revenue to exceed RMB 60 billion if the pandemic situation improves[110] - The company plans to implement a classification management system for cinemas, focusing on loss reduction for unprofitable locations and revenue expansion for growing cinemas[115] - The company aims to increase non-ticket revenue by adjusting product offerings and exploring innovative cross-industry collaborations, such as cinema bookstores and VR exhibitions[115] - The company plans to launch 2 new game products in 2022 to ensure steady and sustainable development[125] - The company is committed to producing high-quality television series and web dramas, focusing on themes that reflect the new era and national values[120] Social Responsibility and Community Engagement - The company is actively working on its social responsibility initiatives, as detailed in its annual social responsibility report[180] - The company has focused on enhancing organizational capabilities and fostering a learning culture among employees[174]

Financial Performance - The company's operating revenue for Q3 2021 was ¥110,531,601.36, representing a year-on-year increase of 27.10% and a year-to-date increase of 96.82%[6]. - The net profit attributable to shareholders for Q3 2021 was -¥163,501,312.05, compared to a profit of ¥274,455,472.72 in the same period last year[7]. - The basic earnings per share for Q3 2021 was -¥0.09, compared to -¥0.15 in the same period last year[7]. - The net loss for the third quarter of 2021 was ¥280,704,914.54, compared to a net loss of ¥805,706,961.96 in the same quarter of 2020, indicating an improvement in financial performance[21]. - The total comprehensive loss for the third quarter was ¥273,056,608.50, compared to a loss of ¥805,706,961.96 in the same period of 2020, showing a significant reduction in losses[22]. Revenue and Costs - Total operating revenue for the first three quarters of 2021 reached ¥555,014,616.09, a significant increase from ¥281,988,813.91 in the same period of 2020, representing a growth of approximately 96.5%[20]. - Total operating costs decreased to ¥906,876,965.91 from ¥1,085,052,352.59, marking a reduction of about 16.5%[20]. Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥7,807,366,783.13, an increase of 7.79% compared to the end of the previous year[7]. - The company's total liabilities increased to ¥5,185,448,685.18 from ¥4,427,804,680.87, reflecting a rise of approximately 17.1%[19]. - The total equity attributable to shareholders decreased to ¥2,658,300,039.47 from ¥2,848,178,743.29, a decline of about 6.3%[19]. - Current assets totaled RMB 3,275,882,963.28, down from RMB 3,507,024,541.60, indicating a decrease of about 6.6% year-over-year[17]. - Non-current assets totaled RMB 4,531,483,819.85, up from RMB 3,736,319,852.85, indicating an increase of approximately 21.3%[17]. Cash Flow - The company's cash flow from operating activities for Q3 2021 was -¥551,636.17, a decrease of 100.22% compared to the same period last year[7]. - Operating cash inflow for the first three quarters of 2021 was CNY 1,405,034,880.04, an increase of 20.8% compared to CNY 1,163,473,841.29 in the same period of 2020[24]. - Net cash flow from operating activities was negative CNY 551,636.17, a significant decline from a positive CNY 253,970,621.97 in the first three quarters of 2020[24]. - Cash outflow from investment activities totaled CNY 66,308,629.86, a decrease of 88.7% compared to CNY 584,909,447.50 in the same period of 2020[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 31,869[12]. - The largest shareholder, Beijing Wenzi Holdings Co., Ltd., held 20.35% of the shares, amounting to 377,389,466 shares[13]. Financial Standards and Adjustments - The company adopted the new leasing standards effective January 1, 2021, impacting the financial statements without adjusting comparative period information[30]. - The retained earnings adjustment due to the new leasing standards was reflected in the financial statements for the current year[30].

Financial Performance - The company achieved operating revenue of CNY 444.48 million in the first half of 2021, an increase of 127.91% compared to the same period last year[17]. - The net profit attributable to shareholders was a loss of CNY 110.95 million, an improvement from a loss of CNY 477.85 million in the previous year[17]. - The basic earnings per share for the first half of 2021 was -CNY 0.06, an improvement from -CNY 0.26 in the same period last year[19]. - The company reported a total non-recurring profit and loss of 55,229,010.54, with a significant contribution from government subsidies amounting to 11,130,436.56[23]. - The company reported a total comprehensive loss for the first half of 2021 was ¥113,432,973.83, compared to a loss of ¥489,655,969.56 in the same period of 2020, indicating a significant reduction in losses[142]. - The net profit after deducting non-recurring gains and losses was reported at 166,183,171.21 RMB[127]. - The company reported a total revenue of CNY 5,922,857,789 for the first half of the year, marking a growth of 3.01% compared to the same period last year[170]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 87.03% to CNY 50.17 million compared to CNY 386.86 million in the same period last year[17]. - The cash and cash equivalents decreased to RMB 329,085,065.56 from RMB 424,312,996.51, a decline of about 22.5%[131]. - The total cash inflow from operating activities decreased to ¥315,276,872.73 in 2021 from ¥770,697,567.76 in 2020, reflecting a decline of approximately 59%[150]. - The ending cash and cash equivalents balance for the first half of 2021 was ¥153,871,663.71, down from ¥59,675,956.10 in the same period of 2020[151]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 8.02 billion, a 10.65% increase from the previous year-end[18]. - Total liabilities reached RMB 5,233,458,508.00, up from RMB 4,427,804,680.87, indicating an increase of about 18.2%[133]. - The company's equity attributable to shareholders decreased to RMB 2,816,009,564.98 from RMB 2,848,178,743.29, a decline of about 1.1%[133]. - The asset-liability ratio rose by 4.17 percentage points to 65.30% compared to the end of the previous year[127]. Business Operations and Strategy - The company operates in the cultural, sports, and entertainment industry, focusing on film and game sectors, with four main business segments: cinema operation, film investment and production, game development, and "cultural+" business[25]. - The company is focused on diversifying its revenue channels through horizontal and vertical investments in the cultural sector, leveraging its brand and IP resources[27]. - The company is actively involved in the cultural industry development service, providing planning consultation and resource introduction to local governments, enhancing brand influence[27]. - The company plans to expand its market presence and invest in new product development to drive future growth[171]. Market Trends and Challenges - The company continues to face challenges due to the ongoing impact of the COVID-19 pandemic, affecting its film screening and investment businesses[20]. - The film industry is experiencing regulatory changes aimed at promoting quality content and standardized operations, with new digital copyright management standards introduced[29]. - The ongoing COVID-19 pandemic poses risks to short-term operational performance, potentially affecting box office revenues and leading to financial strain[88]. Investment and Development - The company is actively pursuing new film projects and has invested in several major films, including "Warm Hug" with a box office of 864 million yuan[49]. - The company is developing various Winter Olympic-themed media projects, including a TV series and a documentary, which are in the final stages of preparation[83]. - The company is actively expanding its game overseas business and increasing investment in game R&D to improve product success rates[45]. Shareholder and Corporate Governance - The company has a total of 33,846 common shareholders as of the end of the reporting period[115]. - The largest shareholder, Beijing Wenzi Holdings Co., Ltd., holds 20.35% of the shares, totaling 377,389,466 shares[117]. - There are no updates on the stock incentive plan or employee stock ownership plan, indicating no recent developments in these areas[95]. Environmental and Social Responsibility - The company actively promotes energy conservation and emission reduction, implementing measures such as using energy-saving lamps and encouraging paperless operations, significantly reducing paper usage since 2020[97]. - The company continues to engage in poverty alleviation activities, assisting in the sale of agricultural products to support impoverished communities[99].

Financial Performance - The company's operating revenue for 2020 was approximately ¥528 million, a decrease of 76.26% compared to ¥2.224 billion in 2019[19]. - The net profit attributable to shareholders of the listed company was approximately ¥3.463 billion, showing a significant recovery from a loss of ¥658 million in the previous year[19]. - The net cash flow from operating activities increased by 174.10% to approximately ¥181 million, compared to ¥66 million in 2019[19]. - Total assets decreased by 34.40% to approximately ¥7.243 billion from ¥11.042 billion in 2019[19]. - The net assets attributable to shareholders of the listed company decreased by 55.50% to approximately ¥2.848 billion from ¥6.401 billion in 2019[19]. - The net profit attributable to shareholders was -3.463 billion RMB, primarily due to the impact of COVID-19 measures leading to prolonged cinema closures and significant declines in film screening and investment revenues[20]. - Basic and diluted earnings per share were both -1.87 RMB, reflecting a decrease of 26,814.29% year-over-year[20]. - The weighted average return on equity was -74.16%, a decrease of 74.36 percentage points compared to the previous year[20]. - The company reported a cash flow from operating activities of 371 million RMB in the second quarter of 2020[22]. - The company recorded a goodwill impairment of 1.742 billion yuan, significantly reducing the total profit for the year[72]. - The company reported a net loss of RMB 4,431,179 for the year[160]. Operational Challenges - The company experienced significant asset impairments, particularly in goodwill and long-term assets, due to the pandemic's impact[20]. - The film industry faced significant challenges, with total box office revenue in 2020 at CNY 20.42 billion, a sharp decline compared to previous years[36]. - Cinema film revenue decreased by 78.68% compared to the previous period, primarily due to the prolonged closure of cinemas caused by COVID-19 prevention measures[63]. - Film investment and production revenue fell by 56.72%, attributed to delayed film releases and slower filming progress due to the pandemic[63]. - Revenue from the online gaming business declined by 56.94%, mainly due to the delayed launch of the sequel to the flagship game and changes in revenue-sharing agreements with partners[63]. - "Cultural+" business revenue dropped by 92.33%, significantly impacted by the pandemic, which delayed service development[63]. - The ongoing COVID-19 pandemic poses uncertainties for the company's operations, particularly affecting cinema attendance and live events[117]. - The company anticipates intensified competition in the film industry, with a potential oversupply of films post-pandemic impacting market dynamics[116]. Strategic Initiatives - The company plans to expand its "cultural+" business, which includes value-added services related to cinema operations[29]. - The company is actively participating in the Beijing 2022 Winter Olympics as an official cultural event service sponsor, exploring various cultural activities[31]. - The company aims to enhance its brand influence through partnerships with local governments in cultural industry development services[32]. - The company is focusing on diversifying its revenue channels through horizontal and vertical investments in the cultural sector[32]. - The company is applying to become a licensed producer and retailer for the Winter Olympics, integrating traditional culture with winter sports[31]. - The company is actively pursuing partnerships with over 120 licensed retailers to promote its Winter Olympic products, aiming to expand distribution channels[114]. - The company aims to leverage the Winter Olympics IP to enhance brand recognition and market competitiveness, focusing on various projects including variety shows and live performances[112]. Governance and Compliance - The audit report issued by Zhongxing Caiguanghua CPA was a standard unqualified opinion[4]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[7]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company has provided a detailed risk statement regarding potential future challenges in its report[10]. - The company has not faced any risks of suspension from listing during the reporting period[131]. - The company has not reported any significant accounting policy changes or errors during the reporting period[130]. - The company has faced significant litigation issues, including a lawsuit from Sparkle Roll Culture & Entertainment Development Limited against HYH GROUP LIMITED regarding business transaction disputes[132]. Market Trends - The number of online dramas increased by 27% in 2020, indicating a shift in audience preferences towards digital platforms[34]. - The mobile gaming market in China generated actual sales revenue of 209.68 billion yuan in 2020, an increase of 51.57 billion yuan, representing a year-on-year growth of 32.6%[40]. - The total number of games that obtained licenses in 2020 was 1,316, a decrease of 16.17% from 2019, with 1,213 games (92.17%) coming from mobile platforms[40]. - Domestic tourism in 2020 saw a total of 2.879 billion trips, a decline of 52.1% year-on-year, with total tourism revenue dropping by 61.1% to 2.23 trillion yuan[42]. Future Outlook - The company plans to launch several new products in 2021, including "Attack City Three Kingdoms 2," as part of its diversified product strategy[54]. - The company aims to strengthen its core businesses in cinema, film, and gaming while innovating in "cultural+" derivative businesses to enhance competitiveness[99]. - The company plans to invest in key film projects during important release periods, aiming for both social and economic benefits[101]. - The company is committed to developing high-quality TV series that reflect moral values and cultural heritage, leveraging unique resources from the capital[106]. - The company plans to enhance its marketing strategies and adjust project promotion costs based on market dynamics post-industry recovery[106]. - The company is actively expanding its overseas market presence by integrating internal and external distribution resources, aiming for greater market share in a competitive landscape[110]. Shareholder Information - The company has a cash dividend policy that stipulates at least 10% of the distributable profit will be distributed as cash dividends in profitable years[123]. - The company did not propose any profit distribution for 2019 and 2020 due to losses and negative retained earnings[124]. - The total number of ordinary shareholders at the end of the reporting period was 28,147, a decrease from 28,510 at the end of the previous month[157]. - The top ten shareholders hold a total of 1,853,000,000 shares, representing 99.99% of the total shares[159]. - Beijing Wenzi Holdings Co., Ltd. is the largest shareholder, holding 377,389,466 shares, accounting for 20.35% of the total[159]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 1,498, with 68 in the parent company and 1,430 in subsidiaries[180]. - The company has established a compensation policy that aligns with national regulations and industry standards, ensuring moderate growth in employee wages[181]. - The company is committed to regular training programs aimed at enhancing employee skills and capabilities to support sustainable development[182]. - The company has established a remuneration management system for directors and senior management, which is approved by the shareholders' meeting[177].

Financial Performance - Operating revenue surged by 190.30% to CNY 331,322,620.46 from CNY 114,132,203.77 in the same period last year[5] - Net profit attributable to shareholders reached CNY 10,770,223.25, a significant recovery from a loss of CNY 169,414,175.38 in the previous year[5] - Basic earnings per share improved to CNY 0.01 from a loss of CNY 0.091 in the previous year[5] - The company reported a significant increase in tax and additional fees, which rose by 572.95% to RMB 9.20 million from RMB 1.37 million in the previous year[17] - Financial expenses increased by 38.41% to RMB 52.39 million, primarily due to new financing in Q1 2021[17] - The company’s other income grew by 73.67% to RMB 5.98 million, attributed to increased box office revenue and related subsidies[17] - The company reported a net loss of RMB 3,780,598,313.22 in retained earnings as of March 31, 2021, compared to a loss of RMB 3,868,296,999.33 at the end of 2020, indicating a reduction in losses[29] - The company reported a total equity of RMB 2,902,898,668.62 as of March 31, 2021, up from RMB 2,815,539,713.58 at the end of 2020[29] - The total comprehensive income for Q1 2021 was CNY -24,065,453.05, compared to CNY -44,310,542.98 in Q1 2020, reflecting an improvement in overall financial performance[37] Assets and Liabilities - Total assets increased by 16.45% to CNY 8,434,818,743.98 compared to the end of the previous year[5] - The company’s lease liabilities amounted to RMB 963.38 million, representing 11.42% of total assets, reflecting a 100% increase due to the adoption of new leasing standards[15] - The company's long-term borrowings increased to RMB 252,860,000.00 as of March 31, 2021, compared to RMB 71,750,000.00 at the end of 2020, indicating a significant rise in long-term debt[29] - The total liabilities increased from 4,427,804,680.87 to 5,434,093,116.44, reflecting an increase of 1,006,288,435.57[46] - Total current liabilities were RMB 3,701,866,401.54 as of March 31, 2021, slightly decreased from RMB 3,742,137,510.89 at the end of 2020[29] - The company has a total of approximately $1.1 billion in non-current liabilities due within one year, indicating potential short-term financial obligations[51] Cash Flow - Net cash flow from operating activities increased by 17.77% to CNY 18,421,285.30 compared to CNY 15,641,284.26 in the same period last year[5] - The cash flow from investing activities decreased by 46.88% to RMB 16.43 million, mainly due to reduced investment projects in Q1 2021[18] - The net cash flow from investing activities was -13,488.00, indicating a significant outflow for the quarter[42] - Cash inflow from financing activities totaled 408,110,000.00, while cash outflow was 334,365,140.28, resulting in a net cash flow of 73,744,859.72[42] Shareholder Information - The total number of shareholders reached 28,510 at the end of the reporting period[10] - The largest shareholder, Beijing Cultural Investment Holdings Co., Ltd., holds 20.35% of the shares, with 377,389,466 shares[10] Future Plans - The company plans to continue expanding its market presence and investing in new technologies[5] - The company plans to invest up to RMB 300 million in a collective trust plan, with a commitment to cover a shortfall obligation of up to RMB 1.1 billion[19] - The company plans to dispose of its holdings in the Jin Cheng Capital 020 trust plan, including the potential sale of trust plan shares[22] User and Market Data - The total registered users for the game "Attack on the Three Kingdoms" reached 3.202 million, with 61,900 paying users and a recharge amount of RMB 10.39 million[13]