长江出版传媒股份有限公司（600757） 2021 年第三季度报告 单位：元 币种：人民币 证券代码：600757 证券简称：长江传媒 长江出版传媒股份有限公司 2021 年第三季度报告 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个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | --- | |------------------------------------------------|------------------|-------------------------------------------|------------------|- ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,855,273,324.48, a decrease of 7.28% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥480,378,317.79, representing an increase of 1.37% year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥485,757,390.28, which is a significant increase of 40.54% compared to the previous year[19]. - The net cash flow from operating activities was ¥175,659,481.27, a notable recovery from a negative cash flow of ¥574,890,392.77 in the same period last year[19]. - Basic earnings per share for the first half of the year was ¥0.40, up 2.56% from ¥0.39 in the same period last year[20]. - The weighted average return on net assets decreased to 5.97%, down by 0.33 percentage points compared to the previous year[20]. - The company reported a significant increase in the basic earnings per share after deducting non-recurring gains and losses, which rose by 42.86% to ¥0.40 from ¥0.28[20]. - The company's overall retail market share in the first half of 2021 was 1.88%, ranking 11th among major publishing groups in China, with a market share of 2.19% in physical bookstores, ranking 7th[32]. Assets and Liabilities - Total assets reached ¥11,322,443,301.22, reflecting a 3.45% increase from the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased to ¥7,939,636,416.55, a growth of 0.72% compared to the end of the previous year[20]. - The company's total liabilities as of June 30, 2021, were RMB 3,334,867,982.11, compared to RMB 3,014,820,649.25 at the end of 2020, reflecting a rise of approximately 10.6%[119]. - The total equity attributable to shareholders was RMB 7,939,636,416.55, an increase from RMB 7,882,663,063.03 at the end of 2020, showing a growth of around 0.7%[119]. Cash Flow - The net cash flow from operating activities for the first half of 2021 was ¥51,775,721.52, a significant improvement compared to a net outflow of ¥101,364,685.00 in the same period of 2020[142]. - Total cash inflow from investment activities reached ¥567,451,932.17, while cash outflow was ¥52,783,346.96, resulting in a net cash flow of ¥514,668,585.21[142]. - The company reported cash inflow from sales of goods and services amounting to ¥255,517,583.43, compared to ¥83,769,051.31 in the first half of 2020, indicating a substantial increase[141]. - The total cash inflow from operating activities was ¥293,112,330.27, compared to ¥102,661,002.18 in the first half of 2020, showing a strong operational performance[142]. Business Strategy and Expansion - The company is expanding into digital reading, online education, and cultural creativity, diversifying its business model beyond traditional publishing[25]. - The company has established 78 distribution branches and 437 business outlets, enhancing its chain operation system[29]. - The company has improved its book reprint rate to over 70% over the past three years, with revenue and profit growth rates maintained at around 10% annually[33]. - The company completed the construction of 237 physical bookstores during the "13th Five-Year Plan" period, doubling both the number and total operating area to 136,000 square meters[34]. - The company has developed a digital education platform with 2 million subject resources and question banks, and has successfully scaled the development and sales of e-books and audio books[35]. Risk Management and Compliance - The company has outlined potential risks in its management discussion and analysis section, which investors should review carefully[7]. - The report has not been audited, and the company emphasizes the importance of reading forward-looking statements with caution[6]. - The company is focusing on enhancing its internal control and management systems to ensure compliance with legal standards[46]. Shareholder and Corporate Governance - The company does not plan to distribute profits or increase capital from reserves during this reporting period[5]. - There are no non-operating fund occupations by controlling shareholders or related parties reported[7]. - The company has committed to ensuring the independence of its operations, assets, personnel, and finances post-asset injection[78]. - The company has made commitments to avoid any potential competition with its controlling shareholder post-asset restructuring[82]. - The company has pledged to not seek preferential treatment in business cooperation due to its controlling shareholder status[83]. Awards and Recognition - The company has won 4 team awards and 6 individual awards in the national book editing and proofreading competition during the "13th Five-Year Plan" period[35]. - The company has been recognized with 14 awards, including "Demonstration Unit" and "Special Contribution Unit" in the national book industry[34]. Community Engagement - The company continues to strengthen rural revitalization efforts, ensuring seamless integration of poverty alleviation and beautiful countryside construction[71]. - The company has organized volunteer activities for left-behind children, providing free cultural education courses during weekends and holidays[71]. - The company has actively engaged in consumption poverty alleviation, purchasing 234,900 yuan worth of tea from the poverty alleviation point[71].

Financial Performance - Operating revenue for the first quarter reached CNY 1,394,128,418.66, a significant increase of 56.57% year-on-year[12] - Net profit attributable to shareholders was CNY 260,225,479.33, representing a 112.96% increase compared to the same period last year[12] - The company reported a net profit excluding non-recurring gains and losses of CNY 253,182,843.10, an increase of 98.13% year-on-year[12] - The company reported a significant decrease in credit impairment losses, down 63.29% to CNY -1,510 million, compared to CNY -4,112 million last year[21] - The company reported a total profit of CNY 58,109,682.95, slightly up from CNY 56,980,737.26 in the same quarter last year, indicating a growth of 2.0%[42] - The total comprehensive income attributable to the parent company was CNY 260,225,479.33, compared to CNY 122,192,652.07 in the same period last year, representing an increase of 113.4%[41] Earnings and Profitability - Basic earnings per share improved by 110.00% to CNY 0.21 from CNY 0.10 in the previous year[12] - Operating profit for Q1 2021 was ¥257,827,713.60, compared to ¥118,286,362.85 in Q1 2020, indicating an increase of about 118.4%[40] - Net profit for Q1 2021 was ¥257,325,701.66, up from ¥116,121,141.22 in Q1 2020, reflecting a growth of approximately 121.0%[40] - The company's retained earnings increased to ¥677,978,880.67 from ¥619,869,197.72, representing a growth of about 9.3%[37] Assets and Liabilities - Total assets increased by 4.58% to CNY 11,446,572,622.60 compared to the end of the previous year[12] - Total liabilities amounted to ¥3,258,970,192.43, up from ¥3,014,820,649.25, which is an increase of around 8.1%[29] - Current liabilities rose to ¥3,096,373,174.42 from ¥2,887,476,793.79, indicating an increase of approximately 7.3%[29] - Total current assets amounted to CNY 8,943,486,976.17, up from CNY 8,468,359,038.15 in the previous year[24] - The total assets of the company were CNY 10,945,092,263.00, reflecting a stable asset base[53] Cash Flow - The net cash flow from operating activities was negative at CNY -240,019,137.36, compared to CNY -215,971,600.61 in the same period last year[12] - The total cash inflow from investment activities was CNY 312,955,678.35, down from CNY 963,182,393.58 in the previous year[46] - The company's cash flow from operating activities was significantly impacted by increased cash payments for goods and services, totaling ¥103,090,454.42 in Q1 2021, compared to ¥23,286,208.12 in Q1 2020, highlighting rising operational costs[47] Shareholder Information - The total number of shareholders at the end of the reporting period was 35,015[16] - The largest shareholder, Hubei Changjiang Publishing Group Co., Ltd., held 56.46% of the shares[16] - The total equity attributable to shareholders reached CNY 7,882,663,063.03, contributing to total equity of CNY 7,930,271,613.75[53] Research and Development - The company's R&D expenses decreased by 54.07% to CNY 294 million, attributed to the exclusion of Dolphin Media Co., Ltd. from the consolidation scope[21] - Research and development expenses decreased to ¥2,943,567.47 from ¥6,408,115.45, indicating a reduction of about 54.2%[40] Future Outlook - The company did not disclose specific future outlook or new product developments in the provided content[12] - The company did not indicate any significant changes in net profit expectations for the year[23]

Financial Performance - The company's operating revenue for 2020 was CNY 6,675,054,216.48, a decrease of 13% compared to CNY 7,672,300,871.19 in 2019[27]. - The net profit attributable to shareholders for 2020 was CNY 816,512,619.28, representing an increase of 4.43% from CNY 781,898,122.94 in 2019[27]. - The net cash flow from operating activities decreased by 27.15% to CNY 613,432,152.21 in 2020 from CNY 842,058,945.32 in 2019[27]. - The total assets as of the end of 2020 were CNY 10,945,092,263.00, reflecting a slight increase of 1.13% from CNY 10,822,295,183.26 at the end of 2019[27]. - The net assets attributable to shareholders increased by 8.17% to CNY 7,882,663,063.03 at the end of 2020 from CNY 7,287,002,008.39 at the end of 2019[27]. - Basic earnings per share for 2020 was CNY 0.67, a 4.69% increase from CNY 0.64 in 2019[28]. - Diluted earnings per share for 2020 was also CNY 0.67, reflecting the same 4.69% increase compared to 2019[28]. - The weighted average return on equity decreased to 10.77% in 2020 from 11.20% in 2019, a decline of 0.43 percentage points[28]. - The asset-liability ratio stood at 27.54%, indicating a stable financial position[60]. Revenue Breakdown - The revenue from educational materials increased by 6.22% year-on-year, highlighting a positive trend in this segment[60]. - The revenue from the material trade business decreased by 18.02% year-on-year, while the revenue from general books decreased by 34.74%[65]. - The publishing business generated revenue of CNY 1.654 billion, with a gross margin of 33.97%, down 1.13 percentage points from the previous year[63]. - The distribution business reported revenue of CNY 3.427 billion, with a gross margin of 30.45%, a slight increase of 1.33% year-on-year[63]. - The company achieved total operating revenue of CNY 6.675 billion in 2020, a year-on-year decrease of 13.00%[65]. Strategic Initiatives - The company is expanding into digital reading, online education, and cultural creativity, diversifying its business model beyond traditional publishing[37]. - The company implemented a community marketing model during the COVID-19 pandemic, utilizing live streaming and online bookstore tours to adapt to market changes[42]. - The company is focusing on building a comprehensive cultural service platform on college campuses and enhancing personalized customization services for educational materials[123]. - The company plans to accelerate digital transformation and media integration, investing in digital publishing, online education, and data support platforms to mitigate the impact of new technologies on traditional publishing[127]. - The company is actively pursuing strategic investments and improving its investment fund platform to enhance professional investment capabilities[125]. Market Position and Growth - The company maintained a market share of approximately 3.3% in the national book retail market, ranking between 5th and 7th among similar companies[57]. - The company achieved a book reprint rate exceeding 70% over the past three years, with overall revenue and profit growth rates maintained at around 10% annually[44]. - The company has been recognized with 14 awards, including "Demonstration Unit" and "Special Contribution Unit" in the national book industry, reflecting its growing industry influence[45]. - The company’s digital transformation efforts have begun to show results, with the "Changjiang Cloud School 2.0" product line established[55]. Social Responsibility and Community Engagement - The company invested RMB 1.1988 million in poverty alleviation efforts during the reporting period, along with RMB 76,300 in material donations[181]. - A total of 29 individuals from registered impoverished households were helped to escape poverty during the reporting period[184]. - The company’s cultural poverty alleviation project "Village Reading" was recognized as an advanced farmer's bookstore at the national level[184]. - The company donated over 500,000 yuan for pandemic prevention efforts and provided support to over 80 community workers during the outbreak[192]. - The company has actively engaged in social responsibility initiatives, including the construction of a beautiful rural demonstration village in Zhu Pu[180]. Risk Management - The company is facing risks from raw material price fluctuations, particularly in paper, which could impact production costs and profitability[127]. - The company has implemented a risk control system that integrates risk management, internal control, and compliance to ensure stable development[126]. Compliance and Governance - The company has not faced any administrative penalties or civil litigation related to the investigation by the China Securities Regulatory Commission as of the disclosure date[144]. - The company continues to comply with the accounting standards and has no major accounting errors to correct[146]. - The company has no significant litigation or arbitration matters during the reporting period[150]. Investment and Financial Management - The company engaged in cash asset management, with a total of 3,030,000,000 RMB in bank financial products and 650,000,000 RMB in broker financial products from self-owned funds[159]. - The company reported a total of 605,302,542.82 RMB in guarantees provided to subsidiaries during the reporting period[156]. - The company has structured deposits with multiple banks, including China Merchants Bank and Everbright Bank, diversifying its investment strategy[165]. Digital and Technological Advancements - The company is focusing on the integration of new technologies such as cloud computing and big data to enhance educational services and digital content delivery[102]. - The company has enhanced its digital publishing capabilities, developing integrated solutions for digital reading experiences, including digital libraries and educational resource platforms[101]. Future Outlook - The publishing industry is expected to grow significantly due to favorable policies and market trends, positioning it as one of the best-performing sectors in China's economy[107]. - Future outlook suggests continued growth in structured deposit products as banks adapt to changing market dynamics and customer preferences[171].

Financial Performance - Operating revenue for the first nine months was ¥4,445,100,501.77, a decrease of 20.28% compared to the same period last year[18]. - Net profit attributable to shareholders of the listed company was ¥669,459,544.57, representing an increase of 4.27% year-on-year[18]. - Basic earnings per share for the period was ¥0.55, up 3.77% from ¥0.53 in the previous year[20]. - The weighted average return on net assets decreased by 0.39 percentage points to 8.88%[20]. - The company reported a 50.84% decrease in tax and additional fees to RMB 8,735,842.20, largely due to the impact of the pandemic[28]. - The company distributed dividends amounting to RMB 244,234,965.62, a 32.77% increase compared to the previous year[29]. - The company's net profit for Q3 2020 was approximately ¥193.47 million, an increase from ¥154.30 million in Q3 2019, representing a growth of about 25.4%[52]. - The total comprehensive income attributable to the parent company for Q3 2020 was approximately ¥195.56 million, up from ¥153.46 million in Q3 2019, representing a growth of about 27.4%[55]. - The total comprehensive income for the first three quarters of 2020 was CNY 62,500,281.18, compared to CNY 44,615,589.69 in the same period of 2019, representing an increase of approximately 40.1%[61]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥11,600,381,280.06, an increase of 7.23% compared to the end of the previous year[18]. - Total liabilities reached CNY 3,838,232,642.13, up from CNY 3,364,416,246.59, indicating an increase of approximately 14.1%[35]. - Current assets totaled CNY 9,172,782,173.04, an increase from CNY 8,438,141,762.54, reflecting a growth of about 8.7%[36]. - Total cash and cash equivalents increased to RMB 1,753,924,853.14 from RMB 1,651,500,549.53, indicating improved liquidity[30]. - The total cash outflow from operating activities was CNY 6,747,116,162.78, compared to CNY 6,970,449,109.53 in the previous year, representing a decrease of approximately 3.2%[64]. - The total assets amounted to CNY 10,818,521,500.39, with total liabilities at CNY 3,364,416,246.59[73]. - The company's total current liabilities include accounts payable of approximately CNY 36.63 million and employee compensation payable of approximately CNY 112.72 million[77]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥103,400,505.17, compared to a net outflow of ¥34,466,848.87 in the same period last year[18]. - Cash inflows from operating activities totaled CNY 6,643,715,657.61, down from CNY 6,935,982,260.66 in the previous year, indicating a decrease of about 4.2%[64]. - The net cash flow from operating activities was negative CNY 103,400,505.17, compared to negative CNY 34,466,848.87 in the same period last year, reflecting a worsening of approximately 200.5%[64]. - The net cash flow from investment activities was CNY 516,950,979.73, compared to CNY 284,712,167.51 in the previous year, showing an increase of approximately 82.0%[64]. - The cash flow from financing activities resulted in a net cash flow of -CNY 438,964,843.67, compared to -CNY 372,243,727.80 in the previous period[67]. Shareholder Information - The total number of shareholders at the end of the reporting period was 35,770, with the largest shareholder holding 56.46% of the shares[24]. - Shareholders' equity totaled CNY 7,762,148,637.93, compared to CNY 7,454,105,253.80, reflecting a growth of about 4.1%[36]. - The company holds cash and cash equivalents of approximately CNY 1.13 billion, alongside other receivables totaling approximately CNY 1.01 billion[75]. - The company has a total of CNY 559.31 million in undistributed profits, reflecting retained earnings for future growth[79]. Investment and R&D - Long-term equity investments rose by 37.33% to RMB 292,023,844.67, mainly due to the change of Dolphin Media from a subsidiary to an associate[27]. - Investment income increased by 69.09% to RMB 233,489,511.09, primarily from the transfer of Dolphin Media shares[28]. - R&D expenses decreased by 52.18% to RMB 14,336,026.87, as Dolphin Media was no longer included in the consolidated scope[28]. - Research and development expenses for Q3 2020 were ¥5,003,195.52, a decrease from ¥11,469,672.13 in Q3 2019[47].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥3,079,426,418.38, a decrease of 10.87% compared to the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥473,901,570.56, down 2.94% year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥345,639,341.26, a decline of 23.90% compared to the previous year[20]. - The net cash flow from operating activities was -¥574,890,392.77, a significant decrease of 570.68% compared to the same period last year[21]. - The total assets at the end of the reporting period were ¥10,501,771,200.48, down 2.93% from the end of the previous year[21]. - The net assets attributable to shareholders of the listed company increased to ¥7,524,729,278.59, reflecting a growth of 3.26% compared to the end of last year[21]. - Basic earnings per share for the first half of 2020 were ¥0.39, a decrease of 2.50% from ¥0.40 in the same period last year[21]. - The diluted earnings per share were also ¥0.39, consistent with the basic earnings per share[21]. - The weighted average return on net assets was 6.30%, down 0.78 percentage points from the previous year[21]. Operational Highlights - The company completed the delivery of 99.6% of textbooks and supplementary materials to students by the end of March 2020, responding to the "stay home, stay learning" initiative[40]. - The company published nearly 40 anti-epidemic themed publications, achieving its best annual thematic publishing results in history[41]. - The company has established 78 distribution branches and 392 business outlets, enhancing its chain operation system[30]. - The company is expanding into digital reading, online education, and cultural creativity, forming a multi-medium and cross-field development pattern[26]. - The company has received multiple awards for its publishing products, including the "Five One Project" award from the Publicity Department of the CPC[32]. Investment and Financial Management - The company reported a government subsidy income of 11,194,919.96 RMB, closely related to its normal business operations[22]. - The company has implemented a flexible and diverse talent training model, with several employees recognized as leading talents by national and provincial authorities[36]. - The company is actively pursuing investment opportunities through its platform, aiming to enhance its industry investment and mergers and acquisitions[36]. - The company has strengthened its risk management framework and improved fund management efficiency to ensure high-quality development[42]. Cash Flow and Assets - The net cash flow from investment activities increased by 26.74% to ¥690,345,921.60, driven by gains from the transfer of equity in Dolphin Media Co., Ltd.[46]. - Accounts receivable increased by 71.48% to ¥1,622,283,084.23, primarily due to uncollected government procurement funds for educational materials[49]. - Inventory decreased by 41.38% to ¥733,427,306.17, mainly due to the exclusion of Dolphin Media Co., Ltd. from the consolidation scope[49]. - The company has a cash balance of ¥1,219,020.42, which is restricted due to a bill guarantee[52]. Market and Competitive Landscape - The company acknowledges intensified competition in the publishing and cultural industries, driven by capital operations and resource allocation, and aims to leverage its strong economic position and publishing resources to enhance market competitiveness[58]. - Fluctuations in raw material prices, particularly paper, significantly affect production costs; the company will continue centralized procurement to improve bargaining power and ensure quality[60]. Corporate Governance and Compliance - The company has made commitments to ensure independence in personnel, assets, finance, and operations post-asset injection from the controlling group[67]. - The company has received commitments from the controlling group to avoid any potential competition with the injected assets post-restructuring[70]. - Jiang Publishing Media Group committed to not seeking preferential rights or priority in transactions with the listed company, ensuring fair treatment for all shareholders[71]. - The company maintains a good integrity status, with no significant debts or court judgments outstanding during the reporting period[76]. Future Outlook and Strategy - The company is committed to digital transformation and will increase investment in digital publishing, online education, and data support platforms to mitigate risks from rapid technological advancements[57]. - The company aims to expand its market presence following the restructuring completion[163]. Financial Reporting and Accounting - The financial statements are prepared based on the going concern principle, with no significant doubts regarding the company's ability to continue operations for the next 12 months[168]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect its financial position and operating results[169]. - The company has established specific accounting treatment methods for mergers and acquisitions, distinguishing between mergers under common control and those not under common control[173][176].

Financial Performance - The company's operating revenue for 2019 was CNY 7,671,264,811.60, a decrease of 25.97% compared to CNY 10,362,680,477.31 in 2018[22]. - The net profit attributable to shareholders of the listed company was CNY 786,358,054.97, an increase of 7.32% from CNY 732,691,347.03 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 715,123,714.21, reflecting a growth of 19.40% compared to CNY 598,941,379.82 in 2018[22]. - The net cash flow from operating activities reached CNY 849,102,487.37, a significant increase of 77.44% from CNY 478,521,525.44 in the previous year[22]. - As of the end of 2019, the net assets attributable to shareholders were CNY 7,287,516,842.47, up 9.03% from CNY 6,684,146,929.94 at the end of 2018[22]. - The total assets of the company increased by 4.46% to CNY 10,818,521,500.39 from CNY 10,356,396,756.51 in 2018[22]. - Basic earnings per share for 2019 increased by 8.33% to CNY 0.65 compared to CNY 0.60 in 2018[23]. - The net profit attributable to shareholders for Q4 2019 was CNY 144,307,135.63, a decrease from CNY 153,788,162.35 in Q3 2019[25]. - The total operating income for Q3 2019 was CNY 2,120,710,806.96, showing a slight decrease in Q4 2019 to CNY 2,095,635,122.11[25]. - The weighted average return on equity for 2019 was 11.26%, a decrease of 0.22 percentage points from 2018[23]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, totaling CNY 242,730,054.60 based on the total share capital as of December 31, 2019[3]. - The cash dividend payout ratio increased from 24.85% in 2018 to 30.87% in 2019, indicating a stronger return to shareholders[118]. - In 2019, the company distributed a cash dividend of 2.0 CNY per 10 shares, totaling 242,730,054.60 CNY, which represents 30.87% of the net profit attributable to ordinary shareholders[118]. Business Expansion and Strategy - The company is expanding into digital reading, online education, and cultural creative industries, diversifying its business model[31]. - The company has a centralized procurement strategy for major materials like paper and ink, enhancing cost efficiency[32]. - The company achieved a total revenue of 7.671 billion yuan in 2019, with a net profit of 786 million yuan, marking a 7% increase in publishing and distribution revenue compared to the previous year[44]. - The company opened 67 new physical bookstores in 2019, expanding its operating area by 24,000 square meters[39]. - The company’s educational and cultural projects are forming a complete industrial chain, including early childhood education and educational equipment[40]. - The company is focusing on transforming its retail model from a simple book seller to a comprehensive cultural service provider[84]. - The company aims to enhance its publishing business and expand into digital media, focusing on thematic and quality publishing[106]. Risk Management - The company has outlined potential risks in its future development in the report, urging investors to be cautious[5]. - The company recognizes risks from the ongoing COVID-19 pandemic and has developed emergency plans to mitigate its impact on operations and financial performance[113]. - The company faces technological innovation risks due to rapid changes in the publishing industry driven by digital technologies, which may affect its market competitiveness[114]. - The company acknowledges the risk of insufficient project reserves and plans to focus on project development in areas such as industry extension and mergers and acquisitions[115]. Environmental and Social Responsibility - The company actively engaged in social responsibility initiatives, focusing on poverty alleviation and rural revitalization[173]. - The company reported an annualized return rate of 8% on entrusted loans, with expected returns of 3,200,000 RMB[169]. - The company has received media coverage from over 40 mainstream outlets, highlighting its poverty alleviation efforts[177]. - The company aims to achieve dual social and economic benefits through the "Hubei Rural Image Survey Base" project[181]. - The company has not faced any penalties for environmental violations during the reporting period, adhering to various environmental protection laws[196]. Financial Management and Investments - The company has a significant amount of funds in structured deposits, with a total of 1.1 billion RMB maturing within the next year[162]. - The company has established contracts for financial products with a total value of 1.5 billion RMB, reflecting its strong financial position[160]. - The company has a focus on self-owned funds, with all financial products being financed through its own capital[160]. - The company has invested in various financial products with a total value of 1.5 billion RMB, indicating a diversified investment strategy[160]. Related Party Transactions - The company’s related party transactions included 27,730,774.68 RMB for property services, indicating significant operational interdependencies[146]. - The company’s related party transactions were primarily priced at market rates, ensuring compliance with pricing principles[146]. - The company has established a commitment to ensure that all related transactions are conducted at fair market prices to protect the interests of minority shareholders[124]. Compliance and Governance - The company has not faced any administrative penalties or civil litigation due to the investigation by the Shanghai Securities Regulatory Bureau as of the disclosure date[127]. - The company has committed to ensuring the independence of its operations, assets, personnel, and finances post-restructuring, with no overlap in management roles with the controlling shareholder[121]. - Longjiang Publishing Group has committed to not utilizing its controlling position to gain preferential treatment in transactions with the listed company[124].

长江出版传媒股份有限公司（600757） 2020 年第一季度报告 公司代码：600757 公司简称：长江传媒 长江出版传媒股份有限公司 2020 年第一季度报告 二〇二〇年四月 1 / 20 2020 年第一季度报告 ん长江出版传媒股份有限公司（600757） | --- | --- | |-------|----------------| | | 目录 | | í | 重要提示 . | | 二、 | 公司基本情况 . | | 11Í | 重要事项 . | | 四、 | 附录 . | 2 / 20 长江出版传媒股份有限公司（600757） 2020 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人陈义国、主管会计工作负责人王勇及会计机构负责人（会计主管人员）陆红亚保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财 ...

Financial Performance - Operating revenue for the first nine months was ¥5,575,629,689.49, a decrease of 27.44% compared to the same period last year[20] - Net profit attributable to shareholders of the listed company was ¥642,050,919.34, showing a slight increase of 1.23% year-on-year[20] - Basic earnings per share for the period was ¥0.53, up 1.92% from ¥0.52 in the previous year[22] - Total operating revenue for Q3 2019 was approximately ¥2.12 billion, a decrease of 13.4% compared to ¥2.45 billion in Q3 2018[44] - Net profit for Q3 2019 reached approximately ¥154.30 million, slightly up from ¥154.10 million in Q3 2018, indicating a marginal growth of 0.1%[51] - The company reported a total profit of approximately ¥153.46 million for Q3 2019, down from ¥157.46 million in Q3 2018, a decline of 2.0%[51] - The total comprehensive income attributable to shareholders for Q3 2019 was approximately ¥153.46 million, compared to ¥149.99 million in Q3 2018, indicating a growth of 2.0%[52] Assets and Liabilities - Total assets at the end of the reporting period reached ¥10,824,758,015.61, an increase of 4.52% compared to the end of the previous year[20] - The total liabilities amounted to CNY 3,523,362,314.81, slightly increasing from CNY 3,518,454,585.77 year-over-year[38] - The total current liabilities increased to CNY 3,687,496,198.09 from CNY 3,921,332,170.52, reflecting an increase of approximately 6.0%[43] - The total assets slightly decreased to CNY 9,338,564,292.03 from CNY 9,339,297,972.62, indicating a negligible decline[43] - The total equity attributable to shareholders reached CNY 7,147,227,585.08, up from CNY 6,684,146,929.94, indicating a growth of approximately 6.9%[39] - The total current assets decreased to CNY 5,576,828,176.41 from CNY 5,789,756,746.59, reflecting a decline of approximately 3.7%[39] Cash Flow - The net cash flow from operating activities for the first nine months was -¥34,466,848.87, improving from -¥293,363,159.42 in the same period last year[20] - Cash flow from operating activities for the first nine months of 2019 was CNY 6,935,982,260.66, down from CNY 8,035,875,646.73 in the same period of 2018, a decrease of 13.66%[62] - The company reported a net cash flow from financing activities of -157,906,180.07 RMB, worsening from -112,951,148.14 RMB year-over-year[68] - The total cash inflow from investment activities reached 639,516,679.71 RMB, significantly higher than 307,791,596.45 RMB in Q3 2018, resulting in a net cash flow from investment activities of 284,712,167.51 RMB[64] Shareholder Information - The total number of shareholders at the end of the reporting period was 36,671[24] - The largest shareholder, Hubei Changjiang Publishing Group, held 56.46% of the shares[24] Investments - Long-term equity investments rose by 128.70% to RMB 211,118,570.39, mainly due to external equity investments made during the period[27] - The company reported a decrease in investment income by 31.28% to RMB 138,086,319.28, mainly due to reduced returns from new financial instruments[29] - The company experienced a significant increase in investment income for Q3 2019 at CNY 46,113,199.34, compared to CNY 44,662,871.10 in Q3 2018, an increase of 3.25%[58] Government Support - The company received government subsidies amounting to ¥29,557,204.05 during the reporting period[23] Other Financial Metrics - The weighted average return on net assets decreased by 0.73 percentage points to 9.27%[22] - Research and development expenses for Q3 2019 were approximately ¥11.47 million, an increase of 21.7% from ¥9.44 million in Q3 2018[48] - The company reported a long-term deferred income of ¥2.5 million[78]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥3,454,918,882.53, a decrease of 34.01% compared to ¥5,235,495,344.16 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥488,262,756.99, showing a slight increase of 0.82% from ¥484,274,366.59 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥454,190,401.50, which represents a 13.59% increase from ¥399,861,115.65 in the same period last year[20]. - The net cash flow from operating activities was ¥122,140,107.59, a significant recovery from a negative cash flow of ¥95,488,048.26 in the previous year[20]. - The basic earnings per share remained stable at ¥0.40, unchanged from the same period last year[22]. - The diluted earnings per share also remained at ¥0.40, consistent with the previous year[22]. - The weighted average return on equity decreased by 0.6 percentage points to 7.08% from 7.68% in the previous year[22]. - The company reported a loss of 123,011.93 RMB from the disposal of non-current assets[24]. - The company reported a significant decrease of 63.88% in notes receivable, down to ¥238,626,419.00 from ¥660,720,772.00[51]. - The company reported a total profit for the first half of 2019 of CNY 493,546,717.47, compared to CNY 494,359,088.91 in the previous year, indicating a marginal decrease of 0.2%[140]. - The total comprehensive income for the first half of 2019 was CNY 489,314,900.76, compared to CNY 473,951,911.36 in the same period of 2018, reflecting an increase of 3.5%[136]. Assets and Liabilities - The total assets at the end of the reporting period were ¥10,401,265,297.79, reflecting a slight increase of 0.43% from ¥10,356,396,756.51 at the end of the previous year[21]. - The total liabilities decreased to ¥3,256,840,103.53 from ¥3,518,454,585.77, showing a reduction of about 7.4%[125]. - The equity attributable to shareholders increased to ¥6,993,767,325.00 from ¥6,684,146,929.94, which is an increase of approximately 4.6%[125]. - The company's total assets increased to ¥10,401,265,297.79 from ¥10,356,396,756.51, indicating a growth of approximately 0.4%[125]. - The total amount of receivables from the controlling shareholder Longjiang Publishing Group to the listed company was approximately ¥561.41 million, which has been fully settled as of May 31, 2011[74]. - The total amount of guarantees provided by the company accounts for 7.69% of its net assets[86]. - The company has provided a total guarantee amount of ¥514,124,281.04, which includes guarantees to its wholly-owned subsidiary[86]. Business Operations - The company is expanding its business into digital reading, online education, animation, film, cultural creativity, health industry, and financial investment[27]. - The company has established 77 distribution branches and 309 business outlets, enhancing its chain operation system[31]. - The company utilizes a centralized procurement model for major materials, ensuring cost efficiency and quality control[28]. - The company’s publishing business includes general book publishing, textbook publishing, periodical publishing, and new media operations[27]. - The company’s logistics operations are supported by an advanced automated information management system, facilitating efficient distribution[33]. - The company engages in marketing activities at both corporate and regional levels, participating in major book fairs and promotional events[32]. - The company’s printing operations are primarily outsourced to Xinhua Printing, ensuring quality and efficiency in production[29]. - The company’s sales model includes systematic and retail distribution, minimizing return rates for educational materials[30]. - The company established 15 new physical bookstores during the reporting period, with 22 more under construction[42]. - E-commerce sales reached 101 million yuan, representing a year-on-year growth of 41.3%[42]. Investments and Funding - The company made new equity investments totaling ¥158 million in three projects, focusing on "publishing + cultural creativity" and "cultural + commercial" sectors[55]. - The company received funding for 10 projects from the National Publishing Fund during the reporting period[39]. - The company raised a total of 1.17079 billion RMB through a non-public offering of 173,965,824 shares at a price of 6.73 RMB per share[106]. - The company allocated a total of 345.96 million yuan in raised funds, with 150 million yuan for working capital and 195.96 million yuan for increasing registered capital in subsidiaries[107]. - The total amount of raised funds utilized by subsidiaries reached 131.98 million yuan, with 57.45 million yuan used in the first half of 2019[108]. - The company received net bank deposit interest and investment income of 225.71 million yuan, resulting in a remaining balance of 1.08 billion yuan in raised funds[108]. Corporate Governance and Compliance - The company has established a complete and independent organizational structure, ensuring no competition with Longjiang Publishing Group[71]. - Longjiang Publishing Group committed to ensuring the independence of the listed company by maintaining separate bank accounts and financial personnel, and by allowing independent financial decision-making[71]. - The listed company has not faced any significant litigation or arbitration matters during the reporting period, indicating a stable legal standing[77]. - The total amount of related party transactions during the reporting period was approximately ¥67.05 million, with all transactions conducted at market prices[80]. - The company has not encountered any issues related to publishing direction or ideological risks during the reporting period[48]. - The company’s financial statements are prepared based on the going concern assumption, with no significant doubts about its ability to continue operations[193]. Social Responsibility and Community Engagement - The company invested ¥1.5 million in poverty alleviation efforts during the reporting period, along with ¥2.61 million in material donations[90]. - The company has established a 700-acre agricultural complex, planting 15,000 fruit trees and creating a 26-acre mulberry base[90]. - The company conducted 10 public "send lessons" activities and 10 agricultural technology training sessions with 92 participants[90]. - The company has received recognition as a "Cultural Poverty Alleviation Tribute Enterprise" in the national publishing and distribution industry[91]. - The company plans to continue expanding its agricultural complex and volunteer activities, aiming to achieve rural revitalization goals[95].