Financial Performance - Operating revenue for Q1 2023 reached CNY 2,022,658,981.00, a 21.43% increase from CNY 1,666,812,104.80 in Q1 2022[19] - The company's operating revenue for Q1 2023 was CNY 2,022,658,981, representing a year-on-year increase of 21.35%[27] - Net profit for Q1 2023 was CNY 383,715,732.06, an increase of 31.9% compared to CNY 290,984,111.70 in Q1 2022[40] - The net profit attributable to shareholders of the listed company reached CNY 385,809,038.37, up 31.50% compared to the same period last year[27] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 376,819,640.22, reflecting a 25.91% increase year-on-year[27] - Basic and diluted earnings per share were both CNY 0.32, marking a 33.33% increase from the previous year[27] Assets and Liabilities - The total assets of Changjiang Publishing & Media Co., Ltd. increased by 4.01% to CNY 12,972,277,733.76 compared to the end of the previous year[7] - The total assets of the company as of the end of Q1 2023 were CNY 12,972,277,733.76, compared to CNY 12,471,831,381.52 at the end of the previous year[38] - The total liabilities of the company as of the end of Q1 2023 amounted to CNY 4,106,706,327.20, an increase from CNY 3,989,975,707.02 at the end of Q1 2022[40] - The equity attributable to shareholders of the listed company rose by 4.57% to CNY 8,824,966,884.40 from the end of last year[7] - The total equity attributable to shareholders of the parent company increased to CNY 8,824,966,884.40 from CNY 8,439,157,846.03 year-over-year[40] Cash Flow - Cash and cash equivalents at the end of Q1 2023 were CNY 1,707,635,143.10, slightly up from CNY 1,683,542,057.52 at the end of 2022[16] - The cash and cash equivalents at the end of Q1 2023 amounted to CNY 1,704,202,421.06, an increase from CNY 1,659,559,114.40 at the end of the previous year[23] - The net cash flow generated from operating activities was CNY 195,852,600.66, with no year-on-year comparison available[27] - The net cash flow from investment activities was CNY -161,713,303.46, worsening from CNY -136,924,974.67 in the same period last year[23] - The net cash flow from financing activities was CNY -8,689,210.12, an improvement from CNY -17,159,995.92 year-on-year[23] - Total cash inflow from operating activities was $1,665,428,056.06, compared to $1,650,230,458.99 in the previous period, indicating stable revenue generation[48] - The company reported a net cash inflow from operating activities, contrasting with the previous period's outflow, highlighting a positive trend in cash management[48] Expenses - Sales expenses rose by 41.27%, mainly due to increased employee compensation and promotional expenses[10] - Total operating costs for Q1 2023 were CNY 1,644,725,984.05, up 20.2% from CNY 1,366,937,150.02 in the same period last year[40] - Cash outflow for employee compensation increased to $323,457,166.64 from $289,543,509.83, reflecting a rise in workforce costs[48] - Total cash outflow from operating activities decreased to $1,469,575,455.40 from $1,874,356,664.62, indicating improved cost management[48] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 30,372, with the largest shareholder holding 56.46% of the shares[12] Research and Development - Research and development expenses for Q1 2023 were CNY 2,673,699.40, up from CNY 2,255,553.23 in Q1 2022, indicating a focus on innovation[40] Investment Performance - The company reported investment income of CNY 29,046,672.98 in Q1 2023, compared to CNY 23,034,646.41 in the same period last year, showing growth in investment performance[40]

Financial Performance - The gross profit margin for the reporting period was 60%, showing a slight decrease from 59% in the previous period[1]. - The revenue from the publishing business for self-compiled educational materials was 591.57 million RMB, reflecting an 11% increase[52]. - The revenue from the distribution business for educational materials increased by 21% to 4,231.12 million RMB[52]. - The self-published educational materials sales volume increased by 18% to 1,232 million copies, with revenue rising by 13% to 1,441.69 million RMB[52]. - The general book sales volume decreased by 5% to 769.8 million copies, with revenue declining by 1% to 291.97 million RMB[52]. - The company reported a total revenue of 7,076 million RMB from the publication of "Primary School Students' World," with a distribution volume of 114 million copies[58]. - The total revenue from "Junior High School Students' World" was 2,423 million RMB, with a distribution volume of 39 million copies[58]. - The net profit attributable to ordinary shareholders in the consolidated financial statements is 729,334,143.19 CNY[137]. - The cash dividend amount (including tax) is 388,368,087.36 CNY, which accounts for 53.25% of the net profit attributable to ordinary shareholders in the consolidated financial statements[137]. Research and Development - The company achieved a total R&D investment of ¥22,244,064.05, which represents 0.35% of its operating revenue[17]. - The company has made significant progress in digital content resource transformation, contributing to its strategic growth[8]. - The company is leveraging new technologies such as cloud computing and big data to improve its educational services and resource offerings[1]. - The company has successfully launched several key projects, such as the "Yangtze Media Digital Asset Management Platform," to drive digital transformation[8]. Market Position and Strategy - The company maintains a stable market share in the rental and agency model for educational materials, with a focus on K-12 textbooks in Hubei province[25]. - The company has established a comprehensive industry chain that includes publishing, distribution, and digital education, enhancing its market competitiveness[9]. - The company has secured exclusive agency rights for educational products from six major publishing houses in Hubei province[25]. - The company has implemented a multi-channel marketing strategy, including online and offline integration, to meet evolving consumer demands[6]. - The company is focusing on high-quality development and aims to enhance its market expansion and innovation capabilities[40]. - The company aims to drive high-quality development through reforms in labor, personnel, and distribution systems, promoting market-oriented management[71]. - The company is actively pursuing digital transformation and enhancing its market competitiveness amid increasing industry competition[75]. Corporate Governance - During the reporting period, the board held 3 shareholder meetings, 10 board meetings, and 29 chairman office meetings, discussing a total of 119 topics to enhance corporate governance and decision-making processes[99]. - The company published a total of 39 announcements during the reporting period, successfully completing the preparation and disclosure of its 2021 annual report and 2022 interim reports[99]. - The company is committed to improving the effectiveness of its corporate governance structure, ensuring clear responsibilities and efficient operations among shareholders, the board, and management[99]. - The company has appointed one new shareholder director to enhance its governance structure during the reporting period[99]. - The company has implemented strict compliance with the latest regulatory requirements for listed companies, ensuring high-quality information disclosure[99]. Human Resources and Training - The total number of employees in the company is 4,967, with 1,005 in production, 2,108 in sales, 934 in technology, 352 in finance, and 568 in administration[114]. - The company organized 22 internal training sessions with approximately 1,900 participants, 11 external training sessions with 12 participants, and 4 online training sessions with 408 participants throughout the year[115]. - The company has established a salary performance management system to motivate employees while ensuring that executive compensation aligns with employee salaries[114]. - The company has established a performance evaluation system for senior management, with a focus on operational performance and management indicators[137]. Community Engagement and Social Responsibility - The company has invested a total of 310.70 million CNY in public welfare projects, including 307.50 million CNY in cash donations[148]. - The company has implemented rent reductions for 378 tenants, totaling 12.56 million CNY in rent relief[152]. - The company conducted a "big visit, big investigation, big improvement" activity to monitor and evaluate poverty alleviation efforts, ensuring no one falls back into poverty[157]. - The company donated 310,700 yuan in funds and books to support rural education and improve school conditions, contributing to the development of grassroots education[169]. - The company engaged in community service activities, benefiting over 200,000 people through various cultural events and reading initiatives[169]. - The company has actively participated in talent training and donated educational materials worth 50,000 yuan to local schools[195]. Financial Position - As of December 31, 2022, the total assets of Changjiang Publishing & Media Co., Ltd. amounted to CNY 12,471,831,381.52, an increase from CNY 11,690,865,579.08 in 2021, representing a growth of approximately 6.7%[89]. - The total current assets decreased to CNY 7,993,983,981.20 in 2022 from CNY 8,925,551,211.41 in 2021, reflecting a decline of about 10.4%[89]. - Cash and cash equivalents dropped to CNY 1,683,542,057.52 in 2022, down from CNY 2,042,549,357.68 in 2021, a decrease of approximately 17.6%[89]. - The total liabilities increased to CNY 3,989,975,707.02 in 2022, compared to CNY 3,493,864,871.71 in 2021, marking an increase of around 14.2%[94]. - The company's total equity rose to CNY 8,481,855,674.50 in 2022 from CNY 8,197,000,707.37 in 2021, indicating an increase of approximately 3.5%[94]. - The accounts receivable stood at CNY 819,099,864.73 in 2022, slightly down from CNY 869,756,491.45 in 2021, a decrease of about 5.8%[89]. - The inventory increased to CNY 1,386,088,099.73 in 2022, up from CNY 1,165,468,535.43 in 2021, reflecting a growth of approximately 19%[89]. - The company's short-term borrowings were recorded at CNY 10,000,000.00 in 2021, with no new short-term borrowings reported for 2022[94]. - The total non-current assets significantly increased to CNY 4,477,847,400.32 in 2022 from CNY 2,765,314,367.67 in 2021, representing a growth of approximately 62%[92]. - The company's retained earnings rose to CNY 4,641,785,738.70 in 2022, compared to CNY 4,520,584,789.12 in 2021, an increase of about 2.7%[94].

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,346,724,371.14, representing a decrease of 8.80% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2022 was ¥104,611,895.24, down 48.07% year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥122,265,851.74, a decrease of 39.74% compared to the same period last year[5] - Basic and diluted earnings per share for Q3 2022 were both ¥0.09, reflecting a decline of 43.75% year-on-year[7] - Total operating revenue for the first three quarters of 2022 reached CNY 4,780,075,986.96, an increase of 10.3% compared to CNY 4,331,912,904.49 in the same period of 2021[24] - Total operating costs for the same period were CNY 4,060,220,190.29, up from CNY 3,677,247,712.81, reflecting a year-on-year increase of 10.4%[24] - Net profit for the third quarter of 2022 was CNY 703,225,914.19, compared to CNY 681,368,440.69 in the previous year, indicating a growth of 3.9%[27] - The total comprehensive income attributable to the parent company for Q3 2022 was CNY 703,879,193.16, compared to CNY 683,171,806.38 in Q3 2021, reflecting an increase of approximately 2.1%[28] - Basic and diluted earnings per share for Q3 2022 were both CNY 0.58, up from CNY 0.56 in Q3 2021, indicating a growth of 3.57%[28] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥12,261,369,878.72, an increase of 4.88% from the end of the previous year[7] - The equity attributable to shareholders increased to ¥8,411,855,308.68, up 3.12% from the end of the previous year[7] - The company's total liabilities increased to CNY 3,810,407,151.87 from CNY 3,493,864,871.71, representing a rise of 9.1%[24] - The total liabilities and equity amounted to CNY 12,261,369,878.72, compared to CNY 11,690,865,579.08, an increase of 4.9%[24] - The total number of ordinary shareholders at the end of the reporting period was 33,124, with the largest shareholder, Hubei Changjiang Publishing Group Co., Ltd., holding 685,196,237 shares, accounting for 56.46%[13] Cash Flow - The cash flow from operating activities was reported as not applicable for the current period, with a net cash flow of ¥13,149,683.37 for the year-to-date[7] - Cash inflow from operating activities for the first nine months of 2022 was CNY 6,371,807,499.14, compared to CNY 6,268,248,002.71 in the same period of 2021, representing an increase of about 1.65%[30] - Net cash flow from operating activities for the first nine months of 2022 was CNY 13,149,683.37, a significant recovery from a net outflow of CNY -112,969,792.15 in the same period of 2021[30] - The ending balance of cash and cash equivalents as of the end of Q3 2022 was CNY 1,748,589,232.91, down from CNY 1,838,070,654.47 at the end of Q3 2021[31] - The company received CNY 293,314,981.40 from other operating activities in the first nine months of 2022, significantly higher than CNY 125,096,929.41 in the same period of 2021, marking an increase of approximately 134%[30] - The company reported a decrease in cash received from sales of goods and services, totaling CNY 6,055,483,429.52 in the first nine months of 2022, down from CNY 6,121,040,017.90 in the same period of 2021, reflecting a decline of about 1.07%[30] Investments and Expenses - Research and development expenses for the third quarter were CNY 12,739,793.57, slightly down from CNY 13,494,217.55, a decrease of 5.6%[24] - The company reported investment income of CNY 107,561,304.29, compared to CNY 102,852,403.51, reflecting an increase of 4.3%[27] - Cash outflow from investing activities for the first nine months of 2022 totaled CNY 188,218,071.13, compared to CNY 119,727,488.95 in the same period of 2021, indicating an increase of approximately 57.2%[30] - The company’s cash flow from investment activities showed a net inflow of CNY 181,817,088.54 in the first nine months of 2022, a significant increase from CNY 16,343,949.05 in the same period of 2021[30] Challenges and Outlook - The company noted that the decline in net profit was mainly due to increased bad debt provisions and rising paper prices influenced by the pandemic[10] - The company did not report any significant new product developments or market expansions during the quarter[16] - There were no indications of mergers or acquisitions in the reported period[16] - Future outlook includes potential market expansion and new product development strategies, although specific figures were not disclosed in the report[27]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 3,433,351,615.82, representing a 20.25% increase compared to the same period last year[20]. - The net profit attributable to shareholders of the listed company reached CNY 599,480,591.62, marking a 24.79% increase year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 600,368,810.75, which is a 23.59% increase compared to the previous year[20]. - The basic earnings per share for the first half of 2022 were CNY 0.49, up 22.50% from CNY 0.40 in the same period last year[20]. - The weighted average return on net assets increased to 7.09%, up by 1.12 percentage points compared to the previous year[20]. - The total comprehensive income for the first half of 2022 was CNY 600,877,263.86, compared to CNY 481,202,343.30 in the same period last year, indicating a growth of 24.9%[123]. - The company reported a financial expense of CNY -22,259,022.18, an improvement from CNY -29,401,397.05 in the previous year[118]. - The total operating profit for the first half of 2022 was approximately CNY 611.85 million, an increase from CNY 557.58 million in the same period of 2021, representing a growth of about 9.7%[125]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 48,621,576.47, showing a decrease of 72.32% compared to the same period last year[20]. - Cash inflow from operating activities was CNY 4.06 billion, down from CNY 4.37 billion in the first half of 2021, reflecting a decrease of about 7.0%[131]. - The total cash and cash equivalents at the end of the period stood at CNY 2.17 billion, slightly down from CNY 2.21 billion at the end of the first half of 2021[132]. - The company reported a net increase in cash and cash equivalents of 271,549,996.19 RMB, compared to 86,178,753.66 RMB in the previous period, indicating overall cash flow improvement[137]. - The net cash flow from operating activities was -105,834,303.74 RMB, a significant decrease compared to 51,775,721.52 RMB in the previous period, indicating a decline in operational efficiency[136]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,219,232,397.98, an increase of 4.52% from the end of the previous year[22]. - The total liabilities amounted to CNY 5,462,926,285.02, a slight increase from CNY 5,293,960,528.84 in the previous year[118]. - The company's cash and cash equivalents at the end of the reporting period amounted to RMB 2,181,900,655.58, an increase from RMB 2,042,549,357.68 at the beginning of the period[108]. - Accounts receivable increased by 41.58% to ¥1,231,414,598.97, compared to ¥869,756,491.45, largely due to uncollected government procurement funds for spring textbooks[52]. - The total current assets increased to RMB 9,469,261,404.10 from RMB 8,925,551,211.41, reflecting a growth of approximately 6.09%[108]. Market Position and Business Development - The company's market share in physical bookstores was 2.42%, ranking 7th among national publishing groups, while its online store market share was 2.23%, ranking 8th[36]. - The company achieved a market share of 6.84% in the art book category, ranking 3rd among national publishing groups, and 4.9% in the children's book category, ranking 3rd as well[36]. - The company is expanding into digital reading, online education, and cultural creativity, forming a multi-faceted development pattern[28]. - The company launched over 60 titles that were selected for national-level projects, including the "2022 Recommended Excellent Publications for National Youth"[39]. - The average monthly subscription for the magazine "Elementary School World" exceeded 1.17 million copies, and subscriptions for "Children's World" rose by 61% year-on-year[39]. Investment and Financial Management - The company reported a fair value change gain of 3,735,072.65 RMB from financial assets, indicating active management of its investment portfolio[26]. - The company made two equity investments totaling ¥30 million during the reporting period[56]. - The company has established an investment fund project to enhance its investment capabilities[39]. - The company raised a total of ¥1.17 billion through a non-public offering of 173,965,824 shares at a price of ¥6.73 per share[94]. - The company allocated ¥54.49 million of the raised funds, with ¥16.20 million for working capital and ¥38.29 million for capital increases in subsidiaries[94]. Corporate Governance and Compliance - The company did not distribute profits or increase capital from reserves during the reporting period[5]. - The company has not reported any significant changes in business types or profit sources during the reporting period[51]. - The company has maintained a good integrity status, with no significant debts overdue or unfulfilled court judgments[88]. - The company has not faced any environmental penalties during the reporting period and adheres to relevant environmental protection laws[70]. - The Group guarantees the independence of the listed company's personnel, assets, finance, organization, and business post-restructuring[78]. Social Responsibility and Community Engagement - The company reported a total of ¥40 million in aid funds allocated for rural revitalization efforts, with specific initiatives in tea and organic rice production[73]. - The company has engaged in cultural support activities, donating approximately ¥40,000 in books and educational materials to local schools[73]. - The company has implemented measures to monitor and prevent poverty, ensuring no large-scale return to poverty in the communities it serves[73]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, indicating no significant doubts about the company's ability to continue operations[172]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect a true and complete picture of its financial status[173]. - The company follows a control-based approach to determine the scope of consolidation, including subsidiaries, structured entities, and separable entities[186]. - The consolidated financial statements are prepared in accordance with the Accounting Standards for Business Enterprises No. 33, eliminating all significant internal transactions and balances within the consolidation scope[186]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[180].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,666,812,104.80, representing a year-on-year increase of 19.56%[6] - The net profit attributable to shareholders of the listed company was CNY 293,396,482.29, an increase of 12.75% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 299,267,298.20, reflecting an 18.20% increase year-on-year[6] - The basic earnings per share for the period was CNY 0.24, up 14.29% from the previous year[6] - The total profit for the period was CNY 293,108,876.13, up from CNY 258,176,262.25 in the previous year, indicating a growth of about 13.5%[23] - The operating profit for the company reached CNY 298,363,695.11, compared to CNY 257,827,713.60 in the same quarter last year, reflecting an increase of approximately 15.7%[23] - The company's basic and diluted earnings per share for Q1 2022 were both CNY 0.24, compared to CNY 0.21 in Q1 2021, marking a rise of about 14.3%[24] - The total comprehensive income for the period was CNY 290,984,111.70, compared to CNY 257,325,701.66 in the previous year, representing an increase of approximately 13.1%[24] Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,052,814,650.24, a 3.10% increase from the end of the previous year[8] - The equity attributable to shareholders of the listed company was CNY 8,450,423,198.82, which is a 3.60% increase compared to the end of the previous year[8] - The company's current assets totaled RMB 9,308,602,872.24 as of March 31, 2022, compared to RMB 8,925,551,211.41 at the end of 2021, indicating a growth of 4.3%[17] - The total assets amounted to RMB 12,052,814,650.24, an increase from RMB 11,690,865,579.08 at the end of 2021, representing a growth of 3.1%[18] - The company's total liabilities were RMB 3,564,829,831.17, compared to RMB 3,493,864,871.71 at the end of 2021, indicating an increase of 2.0%[19] - The total equity attributable to shareholders increased to RMB 8,450,423,198.82 from RMB 8,157,026,716.53, marking a growth of 3.6%[19] Cash Flow - The net cash flow from operating activities was negative at CNY -224,126,205.63, with no applicable year-on-year comparison[6] - The cash inflow from operating activities totaled CNY 1,650,230,458.99, slightly down from CNY 1,700,253,147.67 in the previous year[28] - The cash outflow from operating activities was CNY 1,874,356,664.62, resulting in a net cash flow from operating activities of CNY -224,126,205.63, compared to CNY -240,019,137.36 in the previous year[28] - The net cash flow from investment activities was -136,924,974.67 CNY, a significant decrease compared to 273,413,231.51 CNY in the previous period[29] - The total cash outflow from financing activities was 21,922,062.98 CNY, with a net cash flow from financing activities of -17,159,995.92 CNY, compared to 2,492,169.52 CNY previously[29] - The net increase in cash and cash equivalents was -378,211,176.22 CNY, contrasting with an increase of 35,886,263.67 CNY in the prior period[29] - The ending balance of cash and cash equivalents was 1,659,559,114.40 CNY, down from 2,394,199,249.65 CNY at the end of the previous period[29] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 41,791[12] - The largest shareholder, Hubei Changjiang Publishing Group Co., Ltd., held 56.46% of the shares[12] Operational Metrics - The weighted average return on equity was 3.53%, an increase of 0.28 percentage points compared to the previous year[6] - The inventory as of March 31, 2022, was RMB 1,415,294,746.58, up from RMB 1,165,468,535.43 at the end of 2021, reflecting a growth of 21.5%[17] - The company's accounts receivable rose to RMB 1,206,200,877.80 from RMB 869,756,491.45, reflecting a significant increase of 38.7%[17] Research and Development - Research and development expenses for the period were CNY 2,255,553.23, down from CNY 2,943,567.47 in the previous year, indicating a decrease of approximately 23.3%[23] Investment Income - The company reported investment income of CNY 23,034,646.41, down from CNY 33,316,777.80 in the previous year, reflecting a decline of about 30.9%[23] Accounting and Reporting - The company is currently not applying the new accounting standards for the year[29] - The company has not disclosed any new product developments or market expansion strategies in this report[29] - There were no mentions of mergers or acquisitions in the earnings call[29]

Financial Performance - The company's operating revenue for 2021 was CNY 6,023,079,152.79, a decrease of 9.77% compared to CNY 6,675,054,216.48 in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 697,488,865.61, down 14.58% from CNY 816,512,619.28 in 2020[25]. - The net profit after deducting non-recurring gains and losses was CNY 659,772,610.10, a slight increase of 1.06% from CNY 652,820,393.80 in 2020[25]. - The net cash flow from operating activities increased by 62.04% to CNY 994,028,072.42 from CNY 613,432,152.21 in 2020[25]. - The total assets at the end of 2021 were CNY 11,690,865,579.08, reflecting a growth of 6.81% from CNY 10,945,092,263.00 at the end of 2020[25]. - Basic earnings per share for 2021 were CNY 0.57, down 14.93% from CNY 0.67 in 2020[26]. - The company reported a net profit of CNY 15,672,963.73 in Q4 2021, significantly lower than the profits in the first three quarters[28]. - Non-recurring gains and losses totaled CNY 37,716,255.51 in 2021, a decrease from CNY 163,692,225.48 in 2020[29]. - The company achieved a total revenue of 6.023 billion CNY and a net profit attributable to shareholders of 697 million CNY in 2021, with earnings per share of 0.57 CNY[35]. - The total assets reached 11.691 billion CNY, with a net asset value of 8.157 billion CNY and a debt-to-asset ratio of 29.89%[35]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 3.70 RMB per 10 shares, totaling approximately 449,050,601.01 RMB (including tax) based on a total share capital of 1,213,650,273 shares as of December 31, 2021[5]. - The company distributed a cash dividend of 3.5 CNY for every 10 shares, reflecting a commitment to increasing shareholder returns amid steady operational growth[35]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Zhongtian Accounting Firm[4]. - The company has confirmed that all board members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or their related parties[7]. - The company has not violated any decision-making procedures regarding external guarantees[7]. - The company has not faced any administrative penalties from securities regulatory authorities in the past three years, indicating compliance with regulations[150]. - The company has no dissenting opinions from the supervisory board regarding risk findings during the reporting period[159]. - The company has established a management mechanism for subsidiaries to ensure effective control over their operations and governance[171]. Strategic Development and Market Position - The company aims to continue its strategic development under the guidance of national policies and has made significant contributions to the cultural sector in Hubei province[34]. - The company is focusing on digital reading, online education, and cultural creativity as part of its business expansion strategy[48]. - The company aims to maintain its position as a leading cultural enterprise in Hubei province and strive to enter the top tier of similar publishing companies nationwide[115]. - The company is actively pursuing the "double reduction" policy by enhancing the competitiveness of educational products and expanding into after-school services, targeting the market for extracurricular reading materials and early childhood education[118]. - The company is considering strategic acquisitions to enhance its content library, with a budget of 300 million RMB allocated for potential deals[138]. Employee Development and Training - The company recruited 76 new employees, with 68% from 985/211 universities and 66% holding master's degrees[43]. - The company implemented a three-year salary protection policy for new employees to retain talented young professionals[43]. - The company conducted 29 internal training sessions with approximately 3,600 participants and 15 external training sessions with 69 participants during the reporting period[164]. - The company established a performance evaluation system for senior management, which is linked to the annual operational goals and serves as a basis for rewards and penalties[169]. Community Engagement and Social Responsibility - The company actively participated in community pandemic prevention efforts, sending 53 party members to assist in nucleic acid testing and community checks during a new wave of COVID-19 in Wuhan[183]. - The company completed consumption assistance amounting to 760,000 yuan by the end of December, helping 19 temporarily disadvantaged households with nearly 20,000 yuan in relief funds[185]. - The company donated over 1,000 books for cultural assistance and set up a "Cultural Village Communication Base" to enhance community literacy[185]. - The company is committed to ensuring the independence of its operations, assets, personnel, and finances post-restructuring, as outlined in its commitments[192]. Digital Transformation and Innovation - The company is accelerating its digital transformation by building a vertical digital platform that integrates digital reading, e-commerce, knowledge services, and big data analysis[119]. - The company is focusing on the development of new technologies, particularly in digital publishing, to enhance user experience and operational efficiency[144]. - The company has made commitments to avoid any preferential treatment in business cooperation with the controlling shareholder[194]. Risk Management - The company is focused on building a comprehensive risk management system to enhance internal control and operational efficiency[120]. - The company acknowledges risks related to digital transformation and the impact of the COVID-19 pandemic, emphasizing the need for innovation in digital publishing and online education[123]. - The company recognizes the need for deepening integration and innovation in response to external challenges and the demand for transformation[107].

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].