Financial Performance - The company's operating revenue for Q3 2021 was ¥47,400,340.54, representing a year-over-year increase of 13.35%[5] - The net profit attributable to shareholders for Q3 2021 was a loss of ¥13,045,350.49, a decrease of 415.85% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥2,229,292.13, down 155.99% year-over-year[5] - The net profit attributable to shareholders for the year-to-date was a loss of ¥5,058,823.23, a decrease of 112.94% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2021 was ¥158.63 million, a decrease of 37.24% compared to ¥252.86 million in the same period of 2020[21] - Net profit for the first three quarters of 2021 was a loss of ¥2.16 million, compared to a profit of ¥44.67 million in the same period of 2020, indicating a significant decline[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥541,926,386.33, a decrease of 6.69% from the end of the previous year[6] - The total assets as of September 30, 2021, amounted to CNY 541,926,386.33, a decrease from CNY 580,794,339.89 at the end of 2020[18] - Current assets totaled CNY 210,965,078.01, down from CNY 257,296,000.58 year-over-year[16] - The company's total liabilities decreased by 50.00% in long-term borrowings due to repayment of some due loans[9] - The company's total liabilities were CNY 251,846,188.32, down from CNY 280,046,225.16 year-over-year[17] - The total current liabilities were CNY 201,192,388.97, slightly up from CNY 199,971,898.16 year-over-year[17] - The total liabilities rose from 280,046,225.16 RMB to 291,538,822.44 RMB, an increase of about 4.1%[31] Cash Flow - The cash flow from operating activities for the year-to-date was a negative ¥16,086,462.79, reflecting a decrease of 123.28% year-over-year[5] - The company reported a net cash outflow from operating activities of ¥16.09 million for the first three quarters of 2021, contrasting with a net inflow of ¥69.11 million in 2020[25] - The net cash flow from investment activities was 10,080,353.06 RMB, compared to a negative cash flow of -27,753,613.80 RMB in the previous year, indicating a significant improvement[26] - The net cash flow from financing activities was -35,225,148.00 RMB, compared to -69,798,532.23 RMB in the same period last year, showing a reduction in cash outflow by about 49.6%[26] - The company reported a cash outflow of 55,225,148.00 RMB from financing activities, compared to 69,798,532.23 RMB last year, reflecting a decrease of about 20.9%[26] Expenses - The company reported a significant increase of 129.26% in selling expenses year-to-date, attributed to enhanced operational promotion efforts[9] - Total operating costs for the first three quarters of 2021 were ¥157.35 million, down from ¥212.48 million in 2020, reflecting a reduction of 26.00%[21] - Research and development expenses increased to ¥49.05 million in 2021 from ¥44.73 million in 2020, representing an increase of 9.84%[21] - Sales expenses rose sharply to ¥46.20 million in 2021, compared to ¥20.15 million in 2020, marking an increase of 129.00%[21] Shareholder Information - The top shareholder, Zhou Zhenke, holds 29.95% of the shares, with a total of 167,553,120 shares[12] - The company has a total of 10,077 common stock shares outstanding as of the reporting date[12] - The total equity attributable to shareholders was CNY 262,326,042.71, a slight decrease from CNY 267,516,950.55[18] - The company's equity attributable to shareholders decreased slightly from 267,516,950.55 RMB to 267,384,865.94 RMB, a decline of approximately 0.05%[31] Other Information - The basic earnings per share for Q3 2021 was -¥0.02, a decline of 300.00% compared to the previous quarter[6] - Basic and diluted earnings per share for the first three quarters of 2021 were both -¥0.01, compared to ¥0.07 in 2020[23] - The company has no significant new product launches or technological advancements reported during this period[14] - The company recorded an investment income of ¥320.47 thousand in 2021, a significant increase from ¥29.89 thousand in 2020[21] - The company reported a credit impairment loss of ¥4.70 million in 2021, down from ¥8.96 million in 2020, indicating improved asset quality[21]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥111,230,543.07, a decrease of 47.29% compared to ¥211,038,685.35 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2021 was ¥7,986,527.26, down 77.16% from ¥34,973,722.16 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥3,509,942.87, a decline of 89.33% compared to ¥32,883,693.89 in the same period last year[20]. - The net cash flow from operating activities was -¥24,527,760.97, worsening from -¥6,541,421.76 in the previous year[20]. - Basic earnings per share for the first half of 2021 were ¥0.01, down 83.33% from ¥0.06 in the same period last year[21]. - The weighted average return on net assets decreased by 10.02 percentage points to 2.94% from 12.96% in the previous year[21]. - The company reported a total non-recurring profit and loss of 4,476,584.39, with significant contributions from government subsidies amounting to 1,962,427.56 and a reversal of impairment provisions for receivables totaling 1,620,000.00[22]. - The company reported a net loss of CNY 1,419,616,791.28 in retained earnings, a slight improvement from a loss of CNY 1,427,471,233.93 at the end of 2020[89]. - The company's net profit for the first half of 2021 was CNY 10,428,006.64, a decrease of 73.5% compared to CNY 39,310,674.33 in the same period of 2020[95]. - The company reported a significant lawsuit where the defendants are required to pay performance compensation of approximately RMB 83 million and additional penalties[68]. Assets and Liabilities - The total assets at the end of the reporting period were ¥557,881,683.09, a decrease of 3.95% from ¥580,794,339.89 at the end of the previous year[20]. - The total liabilities of the company were CNY 255,214,435.59, compared to CNY 280,046,225.16 at the end of 2020, representing a reduction of approximately 8.8%[89]. - The company's cash and cash equivalents stood at CNY 81,484,824.09, down from CNY 130,300,654.83 at the end of 2020, marking a decline of about 37.4%[87]. - The company's total equity increased slightly to CNY 302,667,247.50 from CNY 300,748,114.73 at the end of 2020, reflecting a growth of approximately 0.7%[89]. - The company's total assets amounted to CNY 661,770,248.32 as of June 30, 2021, compared to CNY 638,971,961.24 at the end of 2020, reflecting an increase of 3.9%[92]. - The total liabilities were CNY 104,313,976.94 as of June 30, 2021, an increase from CNY 98,182,697.66 at the end of 2020, marking a rise of 6.5%[92]. Operational Highlights - The main business focuses on the development and operation of online games and the production and distribution of films and television series[24]. - The gaming market is experiencing increased competition, with a notable decline in user growth and tightening regulations impacting the industry[26]. - The company has launched two new games in the first half of 2021, with three additional games currently in development, expected to launch in the second half of 2021[30]. - The company’s subsidiary, Qiyao Interactive Entertainment, has successfully launched the Vietnamese version of the game "Magic World War" on July 3, 2021[32]. - The film and television industry is undergoing an adjustment period, with the company reducing investments and focusing on the distribution of existing projects to recover costs[27]. - The company is actively promoting the release of the web drama "Journey to the West: Daughter Country" and is in communication for the second round of distribution for "Fox's Summer"[33]. Management and Governance - The company emphasizes its strong management team with extensive experience from leading gaming companies, which enhances its operational efficiency and market position[28]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[58]. - The company has guaranteed the independence of its personnel, assets, finances, and operations since October 8, 2014, ensuring no conflicts of interest with minority shareholders[62]. - The company has engaged Rongcheng Accounting Firm for the audit of its 2021 financial statements and internal controls, continuing from the previous year[65]. - The management team remains unchanged, with Huang Ping as the company leader and Fei Haijiang overseeing accounting[123]. Risks and Challenges - The company faces significant risks from intensified industry competition in both the film and gaming sectors, which could impact future performance[51]. - The company acknowledges the risk of product development in the gaming industry, where failure to meet market expectations could negatively affect revenue[53]. - There is a risk of goodwill impairment if the operational performance of subsidiaries like Taole Network and Qiyao Interactive deteriorates[54]. - The company is subject to policy risks that could affect its operations in the film, gaming, and equity investment sectors[55]. - The overall financial health shows signs of recovery, but the company still faces challenges in achieving profitability[116]. Financial Strategy and Capital Management - The company continues to focus on internal capital management and has not indicated any changes in its financial strategy[115]. - The company completed a non-public offering of 76,741,047 shares at a price of RMB 20.05 per share, raising a total of RMB 1,510,581,251.30 after expenses, increasing total share capital to 139,866,047 shares[127]. - The company executed a capital reserve conversion, increasing total share capital from 139,866,047 shares to 559,464,188 shares by issuing 419,598,141 additional shares[129]. - The company has maintained a consistent capital stock of 559,464,188 throughout the reporting periods[113]. Accounting and Financial Reporting - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial position and operating results accurately[135]. - The company applies fair value measurement for identifiable assets and liabilities acquired in business combinations under non-common control, recognizing goodwill when the acquisition cost exceeds the fair value of net identifiable assets[140]. - Financial instruments are assessed for impairment based on expected credit losses, ensuring accurate recognition of potential losses[176]. - The company recognizes expected credit losses for financial assets measured at amortized cost and other specified financial instruments[176]. - Financial assets are derecognized when the contractual rights to cash flows expire or are transferred, and the transfer meets derecognition criteria[162].

Financial Performance - Operating revenue for the period was CNY 50,832,122.65, representing a decline of 15.20% year-on-year[6] - Net profit attributable to shareholders was CNY 3,881,083.11, down 85.40% from the same period last year[6] - Basic and diluted earnings per share were both CNY 0.01, down 80.00% compared to CNY 0.05 in the previous year[6] - The company's net profit attributable to the parent company for Q1 2021 was 3.88 million yuan, a decrease of 2,269.66 million yuan compared to the same period last year, representing a year-on-year decline of approximately 85.3%[13] - Total revenue for Q1 2021 was ¥50,832,122.65, a decrease of 15.4% compared to ¥59,940,820.41 in Q1 2020[27] - Net profit for Q1 2021 was ¥5,068,447.31, down 79.5% from ¥24,592,301.45 in Q1 2020[28] - The total comprehensive loss for Q1 2021 was ¥3,442,000.11, compared to a loss of ¥3,529,093.72 in the same period last year[31] Cash Flow and Liquidity - Cash flow from operating activities was CNY 3,023,247.19, a significant improvement from a negative cash flow of CNY 11,104,934.02 in the previous year[6] - The net cash flow from operating activities was ¥3,023,247.19 in Q1 2021, a significant improvement compared to a net outflow of ¥11,104,934.02 in Q1 2020[32] - The cash flow from financing activities resulted in a net outflow of ¥22,093,891.92 in Q1 2021, compared to a smaller outflow of ¥2,470,270.83 in Q1 2020[33] - The financial data indicates a stable liquidity position with current assets significantly exceeding current liabilities[45] Assets and Liabilities - Total assets at the end of the reporting period were CNY 573,555,525.93, a decrease of 1.25% compared to the end of the previous year[6] - The company's total assets as of March 31, 2021, were 573.56 million yuan, a decrease from 580.79 million yuan at the end of the previous year[19] - Total liabilities as of March 31, 2021, were 267.89 million yuan, down from 280.05 million yuan at the end of the previous year[20] - Total assets increased from RMB 580,794,339.89 to RMB 592,133,254.84, reflecting an increase of RMB 11,338,914.95[39] - Total liabilities increased from RMB 280,046,225.16 to RMB 291,538,822.44, an increase of RMB 11,492,597.28[40] Shareholder Information - The number of shareholders at the end of the reporting period was 11,777[11] - The total equity attributable to the parent company was 271.27 million yuan, an increase from 267.52 million yuan at the end of the previous year[20] - The total equity attributable to shareholders decreased to ¥537,347,263.47 from ¥540,789,263.58[25] Expenses and Costs - Sales expenses for the period were 15.56 million yuan, an increase of 1,129.31 million yuan year-on-year, primarily due to increased advertising spending by the subsidiary's gaming division[13] - Management expenses amounted to 12.25 million yuan, up 423.24 million yuan year-on-year, mainly due to increased labor costs at the subsidiary[13] - Total operating costs increased to ¥48,805,815.37 in Q1 2021, up 43.9% from ¥33,897,052.11 in Q1 2020[27] Strategic Focus - The company is focusing on market expansion and new product development as part of its future strategy[43] - The company plans to enhance its technology capabilities through ongoing research and development initiatives[43] - The company is exploring potential mergers and acquisitions to strengthen its market position and drive growth[43] - The company’s management indicated a focus on improving operational efficiency and reducing costs in future quarters[31]

Financial Performance - The company achieved a net profit attributable to shareholders of 13.77 million yuan in 2020, a significant recovery from a loss of 567.61 million yuan in 2019[5]. - Operating revenue for 2020 was 299.19 million yuan, representing a 56.03% increase compared to 191.76 million yuan in 2019[23]. - The net cash flow from operating activities increased by 154.62% to 92.19 million yuan in 2020, up from 36.21 million yuan in 2019[23]. - Basic earnings per share improved to 0.04 yuan in 2020, compared to a loss of 1.01 yuan per share in 2019[24]. - The weighted average return on equity increased to 8.91% in 2020, a rise of 110.61 percentage points from -101.70% in 2019[24]. - The total non-recurring gains and losses for 2020 amounted to ¥9,664,436.96, a significant decrease from ¥67,150,332.91 in 2019[27]. - The company reported a net loss of ¥1,427,471,233.93 in 2020, compared to a loss of ¥1,450,818,866.43 in 2019, indicating a slight improvement[184]. - The total comprehensive income for 2020 was ¥29,207,708.70, recovering from a comprehensive loss of ¥567,205,485.93 in 2019[192]. Revenue and Costs - The company achieved a total revenue of RMB 299.19 million in 2020, representing a 56.03% increase compared to RMB 191.76 million in the previous year[42]. - The gaming segment generated RMB 190.42 million in revenue, with a gross margin of 93.62%, while the film and television segment reported revenue of RMB 103.71 million with a gross margin of only 2.38%[46]. - Total operating revenue for 2020 reached ¥299,192,717.32, a significant increase of 56% compared to ¥191,759,034.64 in 2019[189]. - Total operating costs for 2020 were ¥275,332,226.13, up from ¥209,112,773.80 in 2019, reflecting a 32% increase[189]. Cash Flow - Cash flow from operating activities in 2020 was ¥299,042,095.86, an increase from ¥235,196,425.27 in 2019[196]. - Operating cash inflow for 2020 was CNY 303,699,308.94, an increase from CNY 240,392,398.67 in 2019, representing a growth of approximately 26.4%[197]. - Net cash flow from operating activities was CNY 92,190,572.14, significantly up from CNY 36,206,484.62 in 2019, marking an increase of approximately 154.1%[197]. - Cash inflow from investment activities totaled CNY 118,261,154.61, compared to CNY 61,639,701.39 in 2019, reflecting an increase of about 91.5%[198]. - Cash outflow from investment activities was CNY 147,459,886.16, up from CNY 61,262,061.60 in the previous year, representing an increase of approximately 140.5%[198]. Assets and Liabilities - The total assets decreased by 11.10% to 580.79 million yuan at the end of 2020, down from 653.28 million yuan at the end of 2019[23]. - The company's total current assets decreased from ¥180,238,537.34 in 2019 to ¥103,146,281.09 in 2020, a decline of about 42.8%[186]. - Total liabilities decreased from ¥381,743,598.14 in 2019 to ¥280,046,225.16 in 2020, a decline of around 26.6%[183]. - Owner's equity increased from ¥271,540,406.03 in 2019 to ¥300,748,114.73 in 2020, an increase of approximately 10.5%[184]. Strategic Initiatives - The company plans to launch three new games in the first half of 2021, including two casual mobile games and one turn-based mobile game, indicating a focus on expanding its gaming portfolio[37]. - The company is focusing on developing high-quality mobile games to adapt to the increasingly competitive mobile game market[34]. - The company is actively exploring overseas markets for its gaming products, indicating a strategy for international expansion[81]. - The company aims to enhance its game content innovation capabilities and focus on the development of the gaming business as part of its strategic goals for 2021[79]. Risks and Challenges - The company has outlined potential risks in its future development strategy, which investors should be aware of[9]. - The company has identified risks related to the rapid product lifecycle in the gaming industry, emphasizing the importance of timely market adaptation[85]. - The company acknowledges potential policy risks that could impact its operations in both the film and gaming industries[87]. - The gaming industry is experiencing intensified competition, and the company recognizes the need to maintain or improve its competitive advantages to ensure sustained performance[83]. Shareholder Information - The largest shareholder, Zhou Zhenke, holds 167,553,120 shares, representing 29.95% of the total shares, with 135,000,000 shares pledged[122]. - The total number of shares held by the top ten shareholders amounts to 328,028,956, which is approximately 58.36% of the total shares[122]. - The total number of ordinary shareholders increased from 8,688 to 8,886 during the reporting period[120]. Management and Governance - The company has established a performance evaluation and incentive mechanism for senior management, ensuring transparency and fairness[153]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[151]. - The company has implemented a training plan to enhance employee skills and overall quality, focusing on management and technical talent[148]. - The company has maintained a stable shareholding structure with no significant changes reported during the year[138].

Financial Performance - Operating revenue for the year-to-date was CNY 252,855,406.90, an increase of 79.48% year-on-year[8] - Net profit attributable to shareholders for the year-to-date was CNY 39,104,008.03, a significant increase of 681.99% compared to the same period last year[8] - Basic earnings per share for the period were CNY 0.07, a 600% increase from CNY 0.01[8] - The company's net profit attributable to the parent company for the first three quarters of 2020 was CNY 39.10 million, a significant increase of CNY 34.10 million compared to the same period last year[16] - Operating revenue for the reporting period reached CNY 252.86 million, up CNY 111.98 million or 79.3% year-on-year, primarily driven by increased user engagement in gaming and revenue from film distribution[16] - The company reported a total profit for the first nine months of 2020 was CNY 77,051,406.94, a recovery from a loss of CNY 14,921,996.17 in the same period of 2019[35] Cash Flow - The company reported a net cash flow from operating activities of CNY 69,105,240.31, compared to a negative cash flow of CNY 17,582,567.29 in the same period last year[8] - The company reported a net cash inflow from operating activities of CNY 69.11 million, a year-on-year increase of CNY 86.69 million, attributed to higher sales collections and reduced tax payments[18] - The net cash flow from operating activities for the first three quarters of 2020 was ¥69,105,240.31, a significant improvement from a net outflow of ¥17,582,567.29 in the previous year[39] - The company’s cash inflow from sales of goods and services reached ¥244,658,236.23 in the first three quarters of 2020, compared to ¥153,174,147.86 in the same period of 2019, marking a growth of approximately 59.7%[39] Assets and Liabilities - Total assets at the end of the reporting period were CNY 573,429,540.83, a decrease of 12.22% compared to the end of the previous year[8] - The balance of trading financial assets at the end of the period was CNY 25,010,700, an increase from CNY 0 at the end of the previous year[13] - Accounts receivable decreased to CNY 27,644,400.00, down by 42.29% from CNY 47,893,300.00 at the end of the previous year[13] - Inventory decreased to CNY 42,174,100.00, a reduction of 47.73% compared to CNY 80,640,200.00 at the end of the previous year[13] - The total liabilities decreased to CNY 257.22 million, down from CNY 381.74 million at the end of the previous year, indicating improved financial stability[24] - Total liabilities increased to CNY 187,797,396.02 from CNY 103,080,223.25, indicating a significant rise in financial obligations[27] Equity and Shareholder Information - The weighted average return on equity increased to 14.38%, up by 0.60 percentage points from 13.78%[8] - Minority interests increased to CNY 32.93 million, up CNY 13.71 million or 71.4% year-on-year, due to changes in the company's ownership stake in subsidiaries[25] - The company’s equity attributable to shareholders was 252,315,458.18 RMB, reflecting the overall financial health of the organization[46] - Shareholders' equity stands at 527,022,238.59, reflecting a negative retained earnings of -1,196,921,865.39[50] Operational Costs - Operating costs for the period were CNY 110.65 million, an increase of CNY 101.84 million or 115.0% year-on-year, mainly due to the recognition of costs associated with film revenue[16] - Total operating costs for Q3 2020 were CNY 41,071,261.54, an increase of 18.2% from CNY 34,761,397.91 in Q3 2019[30] Other Financial Metrics - The company incurred credit impairment losses of CNY 5,899,598.11 in Q3 2020, compared to CNY 332,776.24 in Q3 2019, reflecting an increase of over 1,675%[31] - The company reported investment income of CNY 84,000,000.00 in the first nine months of 2020, a significant increase compared to a loss of CNY 4,392,523.75 in the same period of 2019[35] - The company reported total comprehensive income of CNY 5,357,152.36 for Q3 2020, down from CNY 17,744,270.65 in Q3 2019, a decline of approximately 69.8%[32]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥211,038,685.35, representing a 134.36% increase compared to ¥90,048,526.06 in the same period last year[21]. - The net profit attributable to shareholders was ¥34,973,722.16, a significant recovery from a loss of ¥11,059,187.68 in the previous year[21]. - The basic earnings per share for the first half of 2020 was ¥0.06, recovering from -¥0.02 in the same period last year[22]. - The weighted average return on equity increased by 14.28 percentage points to 12.96% from -1.32% in the previous year[22]. - The company reported a total of ¥2,090,028.27 in non-recurring gains and losses for the period[24]. - The company reported a net profit of 39,310,674.33 RMB for the first half of 2020, compared to a net loss of 7,596,601.40 RMB in the same period of 2019, indicating a significant turnaround[100]. - The operating profit for the first half of 2020 was 76,881,648.88 RMB, a substantial improvement from a loss of 11,119,972.36 RMB in the first half of 2019[104]. - The company reported a total comprehensive income of 39,310,674.33 RMB for the first half of 2020, compared to a comprehensive loss of 7,596,601.40 RMB in the previous year[100]. - The total comprehensive income for the first half of 2020 was 76,881,648.88 RMB, indicating a significant increase compared to the previous period[123]. Cash Flow and Assets - The net cash flow from operating activities was -¥6,541,421.76, an improvement from -¥60,594,071.00 in the same period last year[21]. - Cash and cash equivalents at the end of the period amounted to ¥114,677,896.47, representing 18.52% of total assets, an increase from 8.17% in the same period last year[41]. - Accounts receivable decreased by 14.49% to ¥103,380,379.05, down from ¥120,893,327.39 in the previous year, which accounted for 16.70% of total assets[41]. - Inventory decreased significantly by 81.11% to ¥36,513,715.09, down from ¥193,302,530.93, reflecting a decline in the valuation of film inventory[41]. - Cash inflows from operating activities totaled 127,655,083.25 RMB in the first half of 2020, up from 93,515,675.24 RMB in the same period of 2019[106]. - The ending cash and cash equivalents balance was 5,307,724.86 RMB, compared to 1,857,493.23 RMB at the end of the same period in 2019, indicating an increase[112]. - The total cash and cash equivalents decreased by 32,689,781.58 RMB in the first half of 2020, compared to a decrease of 46,654,453.59 RMB in the same period of 2019[112]. Liabilities and Equity - The total assets decreased by 5.23% to ¥619,115,682.16 from ¥653,284,004.17 at the end of the previous year[21]. - The total liabilities decreased to ¥99,310,924.84 from ¥187,797,396.02 at the end of 2019, showing a reduction of approximately 47%[96]. - The company's equity attributable to shareholders increased to ¥603,903,887.47 from ¥527,022,238.59 at the end of 2019, reflecting a growth of 15%[96]. - The total owner's equity at the end of the reporting period was approximately 310.85 million[119]. - The company experienced a net increase in equity of approximately 34.97 million during the reporting period[116]. Operational Highlights - The company’s gaming business saw significant user growth due to the pandemic, with increased new users, active users, and user engagement leading to higher in-game purchases[37]. - The company is focusing on developing high-quality mobile games, leveraging its strong R&D capabilities and established user base from previous gaming products[30]. - The film and television sector is benefiting from increased consumer spending on cultural products, supported by government policies and the rise of new media channels[28]. - The company plans to continue optimizing existing games and actively expand new cooperation channels in the gaming market[34]. Risks and Challenges - The company has identified potential risks in its future development, which are detailed in the report[7]. - The company is currently facing asset freezes and significant uncertainties regarding its ongoing operations due to financial difficulties[50]. - The company faces intensified competition in the film and gaming industries, which may impact future performance[51]. - The risk of sales for film and television works is uncertain, as audience preferences significantly influence viewership and box office revenue[51]. - There is a risk of goodwill impairment related to the acquisitions of Taole Network and Qiyao Interactive, which could adversely affect the company's financial results[53]. Financial Management and Accounting - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[6]. - The company has renewed the appointment of Rongcheng Accounting Firm for the 2020 financial statement audit[61]. - The company’s financial statements are prepared based on the principle of ongoing operations[137]. - The company’s accounting policies comply with the requirements of the enterprise accounting standards, ensuring a true and complete reflection of its financial status[140]. - The company has classified financial assets into three categories: amortized cost, fair value through profit or loss, and fair value through other comprehensive income[193].

Financial Performance - The company reported a net profit attributable to shareholders of -¥424.99 million for 2019, with a cumulative undistributed profit of -¥1.196 billion at the end of the year, leading to a proposal not to distribute profits for the year[6]. - Operating revenue for 2019 was ¥191.76 million, a decrease of 4.28% compared to ¥200.32 million in 2018[22]. - The basic earnings per share for 2019 was -¥1.01, showing a 50% improvement from -¥2.02 in 2018[23]. - The company reported a total operating income of CNY 191.76 million in 2019, with a net profit attributable to the parent company of -CNY 567.61 million[51]. - The company reported a net profit of -429.49 million yuan for 2019, with accumulated undistributed profits of -1.19692 billion yuan, leading to a proposal of no profit distribution for the year[108]. Cash Flow and Assets - The net cash flow from operating activities improved significantly to ¥36.21 million, compared to -¥33.23 million in the previous year, marking a 208.96% increase[22]. - The total assets decreased by 51.75% to ¥653.28 million from ¥1.35 billion in 2018[22]. - The company generated a net cash flow from operating activities of ¥53,789,051.91 in Q4 2019, a significant improvement compared to -¥37,905,634.69 in Q1[25]. - Cash and cash equivalents decreased by 23.82% to 142,176,205.05, accounting for 21.76% of total assets[66]. - The company reported a goodwill impairment of 35.66%, with goodwill at 248,878,192.70[67]. Market and Industry Trends - The domestic game market's actual sales revenue growth rate improved in 2019, primarily driven by the stable growth of the mobile game market[33]. - The actual sales revenue of China's game market reached CNY 233.02 billion, with a growth rate of 8.7%[44]. - The mobile game market in China achieved actual sales revenue of CNY 151.37 billion, representing a year-on-year growth of 13.0%[44]. - The global game market revenue in 2019 is expected to reach USD 148.8 billion, with the mobile game market accounting for the largest share at USD 68.16 billion, growing by 9.7%[46]. - The company recognizes the risk of intensified competition in the gaming industry, emphasizing the need to maintain competitive advantages and develop classic IPs[102]. Strategic Initiatives - The company plans to focus on high-quality game development in response to stricter regulations and a shift towards premium content in the gaming industry[33]. - The company aims to enhance its competitive edge by investing in high-quality IPs in the cultural industry[83]. - The company is actively optimizing existing games and expanding new cooperation channels to enhance its market presence[48]. - The company plans to actively invest in quality cultural projects and leverage partnerships to enhance its project resource pool[98]. - The company aims to enhance its game business and extend its operational capabilities, focusing on innovation and new product development[96]. Subsidiary Performance - The actual net profit of the subsidiary Kangxi Film Industry for 2019 was -RMB 51.44 million, falling short of the promised RMB 120 million, resulting in a completion rate of -428.69%[115]. - The net profit of the subsidiary Qiyao Interactive Entertainment for the reporting period was 54.92 million RMB[79]. - The cumulative actual net profit of Qiyao Interactive as of the reporting period was -RMB 53.48 million, against a promised total of RMB 39.1 million, leading to a completion rate of -136.77%[115]. - The company’s subsidiary, Taole Network, is dedicated to the development and operation of turn-based online and mobile games, with key products launched in 2019[48]. - As of December 31, 2019, the total assets of the subsidiary Taole Network were 24,949.54 million RMB, with a net profit of 4,245.68 million RMB[78]. Governance and Compliance - The company has committed to strengthening internal controls and governance to mitigate major risks and promote stable operations[125]. - The company has undergone a management change with the resignation of Fang Jibin as Deputy General Manager and Secretary of the Board due to job reassignment[175]. - The company has independent directors with various roles in other organizations, enhancing its governance structure[173]. - The audit opinion confirms that the financial statements fairly present the company's financial position and results of operations for the year ended December 31, 2019[197]. - The company has been actively involved in compliance and corrective actions following regulatory scrutiny, demonstrating a commitment to governance[178]. Shareholder Structure - The total number of ordinary shares is 559,464,188, with 307,866,656 shares subject to restrictions, representing 55.03% of the total[150]. - The largest shareholder, Zhou Zhenke, holds 167,553,120 shares, representing 29.95% of the total shares, with 165,800,000 shares pledged[157]. - The shareholder structure shows a significant concentration of ownership among a few individuals and entities, with the top three shareholders holding over 46% of the total shares[157]. - The company has not issued any new securities during the reporting period, maintaining its existing capital structure[154]. - The company has a total of 18,993,424 shares held by deceased shareholder Chen Leqiang, which have not yet been applied for public trading[159].

Financial Performance - Net profit attributable to shareholders of the listed company reached CNY 26.58 million, a significant increase of 373.06% year-on-year[6]. - Operating income for the first quarter was CNY 59.94 million, representing a year-on-year growth of 44.33%[6]. - Basic earnings per share were CNY 0.05, compared to a loss of CNY 0.02 per share in the same period last year, marking a 350% increase[7]. - Total operating revenue for Q1 2020 was CNY 59,940,820.41, an increase of 44.4% compared to CNY 41,529,663.85 in Q1 2019[25]. - Net profit for Q1 2020 was CNY 24,592,301.45, compared to a net loss of CNY 8,888,922.06 in Q1 2019, marking a significant turnaround[26]. - The company reported an operating profit of CNY 27,592,623.35, recovering from an operating loss of CNY 6,351,428.11 in the previous year[26]. Cash Flow and Liquidity - The net cash flow from operating activities improved to CNY -11.10 million, a 70.70% increase compared to the same period last year[6]. - In Q1 2020, the company reported a net cash flow from operating activities of -11,104,934.02 RMB, an improvement from -37,905,634.69 RMB in Q1 2019[33]. - Total cash inflow from operating activities was 54,875,333.42 RMB, compared to 49,493,205.71 RMB in the same period last year, reflecting a year-over-year increase of approximately 4.8%[32]. - The company experienced a significant decrease in cash outflow for purchasing goods and services, which was 20,418,373.35 RMB in Q1 2020, down from 45,896,332.00 RMB in Q1 2019[33]. - Cash and cash equivalents at the end of Q1 2020 stood at 126,758,645.45 RMB, compared to 91,635,258.02 RMB at the end of Q1 2019, indicating a year-over-year increase of approximately 38.3%[34]. - The company reported a net cash outflow from investing activities of -1,847,283.54 RMB, an improvement from -30,850,823.62 RMB in Q1 2019[33]. - Cash inflow from financing activities was 65,000,000.00 RMB in Q1 2020, while cash outflow was 2,470,270.83 RMB, resulting in a net cash flow of -2,470,270.83 RMB, compared to -26,248,916.67 RMB in Q1 2019[36]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 651.53 million, a decrease of 0.27% compared to the end of the previous year[6]. - The company's total liabilities were CNY 355,401,416.85, down from CNY 381,743,598.14, showing a decrease of approximately 6.9%[19]. - The non-current liabilities decreased to CNY 100,074,327.00 from CNY 120,080,073.53, a reduction of about 16.7%[19]. - The equity attributable to the owners of the parent company increased to CNY 278,893,152.61 from CNY 252,315,458.18, reflecting an increase of approximately 10.6%[19]. - The company's current assets totaled CNY 321,381,470.63, compared to CNY 321,532,398.70 at the end of 2019, indicating a marginal decline[17]. - The total current liabilities amounted to CNY 255,327,089.85, a decrease from CNY 261,663,524.61, indicating a decline of approximately 2.4%[18]. Expenses - The company reported an increase in sales expenses to CNY 4.27 million, up 345.05% year-on-year, primarily due to increased advertising efforts[13]. - Management expenses decreased to CNY 8.02 million, down 39.5% year-on-year, attributed to the amortization of identifiable assets from the acquisition of a subsidiary[13]. - Research and development expenses for Q1 2020 were CNY 14,938,873.03, slightly down from CNY 16,334,983.26 in Q1 2019[25]. Other Income and Losses - Other income increased to CNY 0.50 million, a rise of 787.6% year-on-year, mainly from unemployment insurance refunds[13]. - The company experienced a significant increase in other income, rising to CNY 499,294.23 from CNY 56,216.72 year-over-year[25]. - Investment losses amounted to CNY 10,499,383.89, indicating challenges in this area compared to previous periods[25]. Shareholder Information - The number of shareholders at the end of the reporting period was 12,761[9]. - Shareholders' equity totaled CNY 523,493,144.87, down from CNY 527,022,238.59, reflecting a decrease of about 0.8%[22].

Financial Performance - Operating revenue for the first nine months was CNY 140,880,180.71, representing a slight increase of 0.89% year-on-year[6]. - Net profit attributable to shareholders was CNY 5,000,595.44, down 35.43% compared to the same period last year[6]. - The company reported a net loss of ¥781,800,570.53 for Q3 2019, compared to a net loss of ¥767,432,894.04 in Q3 2018[26]. - Net profit for Q3 2019 reached ¥17,744,270.65, a significant increase compared to a net loss of ¥1,977,515.94 in the same period last year[28]. - Total revenue for the first three quarters of 2019 was approximately ¥153.17 million, a slight increase from ¥151.09 million in the same period of 2018, representing a growth of 1.38%[34]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, with a net outflow of CNY 17,582,567.29, an improvement of 73.24% compared to the previous year's outflow of CNY 65,714,211.10[6]. - Cash inflow from investment activities was 1.1249 million yuan, a decrease of 1.34467 million yuan year-on-year, primarily due to reduced payments for equity transfers[16]. - Net cash flow from operating activities for the first three quarters of 2019 was -¥17.58 million, an improvement compared to -¥65.71 million in the same period of 2018[35]. - Cash inflow from financing activities was 227,500,000.00 CNY, while cash outflow was 156,122,430.65 CNY, resulting in a net cash flow of 71,377,569.35 CNY[38]. - The company reported a cash balance of 2,843,980.79 CNY at the end of Q3 2019, down from 61,051,802.54 CNY at the end of Q3 2018[38]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,260,281,621.18, a decrease of 6.91% compared to the end of the previous year[6]. - Current liabilities totaled 259.24 million yuan, a decrease from 290.45 million yuan at the end of 2018[22]. - Total liabilities for Q3 2019 were ¥185,658,446.11, compared to ¥135,249,697.11 in Q3 2018, reflecting a 37.3% increase[26]. - The total equity attributable to shareholders of the parent company was 825.50 million yuan, a decrease from 841.93 million yuan at the end of 2018[22]. - Total current assets amounted to approximately 422.9 million, with cash and cash equivalents at 48.5 million and other receivables at 358.2 million[44]. Expenses and Costs - Sales expenses for the current period amounted to 5.2606 million yuan, an increase of 130.03 thousand yuan year-on-year, primarily due to increased game advertising expenses[13]. - R&D expenses for the first three quarters of 2019 amounted to ¥49,071,476.09, down 14.0% from ¥57,070,401.39 in the same period of 2018[27]. - Management expenses for Q3 2019 were ¥3,891,986.60, an increase from ¥3,596,672.33 in Q3 2018, indicating rising operational costs[31]. - Financial expenses for Q3 2019 were ¥576,865.07, down from ¥712,701.46 in Q3 2018, suggesting improved cost management[31]. Government Support and Subsidies - The company received government subsidies amounting to CNY 2,862,644.33, mainly for internet development support[8]. - The company received tax refunds of ¥2.28 million in the first three quarters of 2019, compared to ¥876.58 thousand in the same period of 2018, an increase of 160.5%[35]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[27]. - The financial position reflects a solid foundation for future expansion and potential market opportunities[46].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥90,048,526.06, a decrease of 10.45% compared to ¥100,558,303.26 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥11,059,187.68, representing a decline of 230.63% from a profit of ¥8,465,797.12 in the previous year[20]. - Basic earnings per share for the first half of 2019 were -¥0.02, a decrease of 200.00% compared to ¥0.02 in the same period last year[21]. - The weighted average return on net assets was -1.32%, a decrease of 1.75 percentage points from 0.43% in the previous year[21]. - The company reported a net loss of CNY 894,272,409.45 as of June 30, 2019, compared to a loss of CNY 883,213,221.77 at the end of 2018[103]. - The total comprehensive income for the first half of 2019 was CNY -10,565,815.02, compared to CNY -2,108,387.58 in the same period of 2018, highlighting a deterioration in overall financial health[116]. Cash Flow and Investments - The net cash flow from operating activities was -¥60,594,071.00, showing an improvement of 15.12% compared to -¥71,387,728.43 in the same period last year[20]. - The company reported a significant increase in net cash flow from investing activities, which was CNY 9,552,726.76, compared to -CNY 46,741,315.92 in the previous year, marking a 120.44% improvement[44]. - Cash inflow from investment activities totaled CNY 60,830,635.62, significantly lower than CNY 331,042,210.20 in the prior year, marking a decline of approximately 81.7%[120]. - Cash outflow from investment activities was CNY 51,277,908.86, down from CNY 377,783,526.12, representing a decrease of about 86.5%[120]. - The cash flow from operating activities for the first half of 2019 was CNY 91,604,826.95, down from CNY 106,714,426.91 in the same period of 2018, indicating a decrease of approximately 14.2%[118]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,298,877,889.36, down 4.06% from ¥1,353,839,085.78 at the end of the previous year[20]. - The company's total liabilities decreased to CNY 423,854,805.93 from CNY 478,702,086.84, reflecting a reduction of about 11.48%[103]. - The total equity attributable to shareholders decreased to CNY 833,506,325.20 from CNY 841,929,516.99, a decline of approximately 1.01%[103]. - The company's non-current assets totaled CNY 623,292,467.11, down from CNY 642,183,908.88, indicating a decrease of about 2.93%[102]. Industry and Market Position - The company focuses on the cultural entertainment industry, primarily engaging in the development and operation of online games and the production and distribution of films and television dramas[26]. - The online gaming industry is experiencing rapid growth due to increased internet penetration and improved infrastructure, with a broadening player base and enhanced payment services[28]. - The domestic film and television industry is supported by government policies and increasing consumer demand, presenting significant growth opportunities[27]. - The company is exploring overseas markets, establishing stable partnerships with international platforms to expand its revenue sources[30]. Strategic Initiatives - The company aims to integrate its film and gaming businesses to maximize brand value and fan engagement[36]. - The company is actively developing mobile games to adapt to market trends, leveraging its established user base from previous game releases[34]. - The company has launched new mobile games and H5 games, including "Xianling Xiaoyao" and "Magic World War," to create new profit growth points[41]. - The company has established long-term partnerships with renowned writers and has strategically reserved high-quality scripts for future projects[36]. Risks and Challenges - The company faces risks from intensified industry competition in both the film and gaming sectors, which could significantly impact operational performance[60]. - The company is exposed to risks related to the development of new gaming products, including potential misjudgments in market preferences and technology trends[60]. - The company has identified potential goodwill impairment risks associated with its acquisitions, which could adversely affect financial results[60]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 13,951[86]. - The top shareholder, Zhou Zhenke, holds 167,553,120 shares, representing 29.95% of the total shares, with a decrease of 55,840,000 shares during the reporting period[88]. - The second largest shareholder, Beijing Tianchuang Cultural Investment Co., Ltd., holds 55,840,000 shares, accounting for 9.98% of the total shares[89]. - The total number of restricted shares at the beginning of the period was 287,970,764, with no new restricted shares added during the reporting period[85]. Accounting and Compliance - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements reflect a true and complete picture of its financial status as of June 30, 2019[154]. - The financial statements are prepared based on the assumption of going concern, indicating no significant issues affecting the company's ability to continue operations[152]. - The company has not faced any penalties or corrective actions from regulatory bodies during the reporting period[69].