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].

Financial Performance - In 2018, the company reported a net profit attributable to shareholders of -¥1,128,781,693.54, a decrease of 476.12% compared to the previous year[21]. - The total revenue for 2018 was ¥200,323,275.37, representing a decline of 36.12% from ¥313,574,568.95 in 2017[21]. - The net cash flow from operating activities was -¥33,230,499.31, a decrease of 160.93% compared to ¥54,535,141.13 in 2017[21]. - Basic earnings per share for 2018 was -2.02 CNY, a decrease of 474.07% compared to 0.54 CNY in 2017[23]. - The diluted earnings per share for 2018 was also -2.02 CNY, reflecting the same percentage decrease as basic earnings[23]. - The net profit attributable to shareholders in Q4 2018 was -1,136,526,677.03 CNY, significantly lower than the profit in the previous quarters[24]. - The total non-recurring gains and losses for 2018 amounted to 155,637,246.07 CNY, compared to 230,400,124.91 CNY in 2017[25]. - The weighted average return on equity for 2018 was -80.29%, a decrease of 96.78 percentage points from 16.49% in 2017[23]. - The company reported a net profit attributable to the parent company of -1,128.78 million CNY, indicating a significant loss[48]. - The company’s operating cash flow was negative at CNY -33.23 million, a decline of 160.93% from the previous year[51]. - The company’s financial independence and asset integrity are guaranteed by commitments made by its controlling shareholders[99]. - The company’s future outlook remains cautious due to the negative profit situation, with no immediate plans for capital distribution[96]. Assets and Liabilities - As of the end of 2018, the total assets amounted to ¥1,353,839,085.78, down 51.51% from ¥2,792,134,420.11 in 2017[22]. - The net assets attributable to shareholders decreased by 57.26% to ¥841,929,516.99 from ¥1,969,842,837.60 in 2017[22]. - The company's cash and cash equivalents decreased by 39.09% to ¥186,640,633.00, primarily due to payments for equity transfer and loan repayments[62]. - Prepayments dropped by 70.93% to ¥24,936,637.28, mainly due to advances for film production costs[62]. - Other receivables decreased by 59.73% to ¥54,320,072.50, largely due to performance compensation receivables being reclassified to long-term equity investments[62]. - The company's goodwill decreased by 69.94% to ¥386,805,682.35, attributed to impairment provisions for subsidiaries[63]. - The company reported a significant reduction in short-term borrowings by 55.56% to ¥40,000,000.00, mainly due to loan repayments[63]. Strategic Focus and Development - The company is focusing on restructuring and strategic adjustments to improve financial performance in the coming years[5]. - The company plans to expand its overseas market presence, establishing long-term partnerships with platforms like Facebook and Google Play[32]. - The company is focusing on the development of new media and educational technology sectors, indicating a strategic shift in its business model[29]. - The company aims to integrate the entertainment, education, and technology sectors through strategic acquisitions to enhance its cultural industry platform[70]. - The company plans to continue developing new products and expanding into overseas markets[47]. - The company is actively exploring opportunities in the education and cultural sectors to create new profit growth points beyond film and gaming[43]. - The company will explore high-quality cultural projects, including educational initiatives, to create new profit growth points through various development models[90]. Management and Governance - The company has a strong management team with extensive experience in the gaming industry, having previously worked at well-known companies like NetEase and Tencent[36]. - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management[175]. - The audit committee effectively supervises external audits and guides internal audit work, ensuring accurate financial reporting[179]. - The company has complied with regulatory requirements and improved its governance structure according to the latest laws and regulations[173]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[174]. Shareholder and Equity Information - The company has commitments from major shareholders to avoid any competitive activities with the company and its subsidiaries for specified periods, ensuring operational independence[99]. - The company has a history of not distributing dividends over the past three years, reflecting a focus on retaining earnings for potential future investments[98]. - The company did not declare any cash dividends or stock bonuses in 2018, maintaining a consistent trend from previous years[97]. - The stock option incentive plan proposed to grant 30 million stock options, accounting for 5.36% of the total share capital of 559.4642 million shares, with 24 million options granted initially[131]. - The total number of ordinary shareholders at the end of the reporting period was 8,734, a decrease from 19,225 at the end of the previous month[137]. Risks and Challenges - The company faces risks from intensified competition in the film and gaming industries, which could impact its market position and financial performance[91]. - The company acknowledges potential risks related to policy changes that could affect the film and gaming sectors, impacting project execution and market conditions[93]. - The company is closely monitoring industry regulations and trends to adapt its business strategies and invest in impactful film projects[45]. Audit and Compliance - The company has received a standard unqualified audit report from Ruihua Certified Public Accountants[4]. - The financial statements for the year ended December 31, 2018, were audited and found to fairly reflect the company's financial position and operating results[187]. - The audit opinion confirms that the financial statements comply with accounting standards and provide a true representation of the company's performance[188].

Financial Performance - Net profit attributable to shareholders was a loss of CNY 9,733,446.44, a decrease of 239.68% year-on-year[8] - Operating revenue fell by 18.92% to CNY 41,529,663.85 compared to the same period last year[8] - Basic earnings per share were -CNY 0.02, a decrease of 300% compared to the previous year[8] - Net loss for Q1 2019 was ¥8,888,922.06, compared to a net profit of ¥7,306,933.42 in Q1 2018[30] - Operating profit for Q1 2019 was -¥6,407,644.83, a decline from an operating profit of ¥9,696,240.93 in Q1 2018[30] - The company reported a total comprehensive loss of ¥8,888,922.06 for Q1 2019, compared to a comprehensive income of ¥7,306,933.42 in Q1 2018[31] - Basic and diluted earnings per share for Q1 2019 were both -¥0.02, compared to ¥0.01 in Q1 2018[31] - The net profit from continuing operations for Q1 2019 was -6,164,727.16 RMB, compared to -190,201.59 RMB in Q1 2018, indicating a significant decline in profitability[33] Cash Flow - The net cash flow from operating activities was a negative CNY 37,905,634.69, a decrease of 904.72% year-on-year[8] - Total cash inflow from operating activities decreased to 49,493,205.71 RMB in Q1 2019 from 62,800,807.26 RMB in Q1 2018, representing a decline of approximately 21%[36] - The net cash flow from operating activities turned negative at -37,905,634.69 RMB in Q1 2019, compared to a positive 4,710,402.53 RMB in Q1 2018[36] - Cash outflows for purchasing goods and services increased to 45,896,332.00 RMB in Q1 2019 from 9,258,402.66 RMB in Q1 2018, reflecting a substantial rise in operational costs[36] - Cash inflow from investment activities was significantly lower at 18,156,564.38 RMB in Q1 2019 compared to 163,776,764.18 RMB in Q1 2018, a decrease of about 89%[36] - The net cash flow from investment activities was -30,850,823.62 RMB in Q1 2019, contrasting sharply with a positive 127,849,708.45 RMB in Q1 2018[36] - Cash inflow from financing activities decreased to 65,000,000.00 RMB in Q1 2019 from 130,000,000.00 RMB in Q1 2018, a decline of 50%[37] - The net cash flow from financing activities was -26,248,916.67 RMB in Q1 2019, compared to -64,304,513.89 RMB in Q1 2018, indicating improved cash management despite negative flows[37] - The ending cash and cash equivalents balance decreased to 91,635,258.02 RMB in Q1 2019 from 374,690,009.90 RMB in Q1 2018, a drop of approximately 75%[37] Assets and Liabilities - Total assets decreased by 1.76% to CNY 1,329,980,450.75 compared to the end of the previous year[8] - Total current assets decreased to ¥697,885,148.29 from ¥711,655,176.90, a decline of approximately 1.2%[20] - Total non-current assets decreased to ¥632,095,302.46 from ¥642,183,908.88, a decline of approximately 1.7%[21] - Total liabilities decreased to ¥457,644,408.32 from ¥478,702,086.84, a reduction of about 4.4%[22] - Total equity attributable to shareholders decreased to ¥833,301,100.40 from ¥841,929,516.99, a decrease of approximately 1.6%[22] - The company's total liabilities as of Q1 2019 were ¥156,407,993.62, an increase from ¥135,249,697.11 in the previous year[29] - Total equity for Q1 2019 was ¥952,722,415.90, a slight decrease from ¥957,699,176.51 in Q1 2018[29] Investments - Investment income for the period was a loss of CNY 10,499,400, an increase in loss of CNY 10,158,900 year-on-year[16] - The company reported an investment loss of ¥10,499,383.89 in Q1 2019, compared to a loss of ¥340,478.84 in Q1 2018[29] Shareholder Information - The number of shareholders at the end of the reporting period was 19,225[12]

Financial Performance - Operating revenue for the first nine months was CNY 139,632,871.83, a decline of 17.52% year-on-year[7] - Net profit attributable to shareholders decreased by 91.74% to CNY 7,744,983.49 for the first nine months[7] - Basic and diluted earnings per share dropped by 91.67% to CNY 0.014[7] - The net profit attributable to the parent company for the first three quarters of 2018 was RMB 7.75 million, a decrease of RMB 85.99 million compared to the same period last year[15] - Total revenue for the third quarter was ¥39,690,509.09, a decrease of 43.6% compared to ¥70,296,673.52 in the same period last year[31] - Net profit for the third quarter was a loss of ¥1,977,515.94, compared to a profit of ¥60,273,760.04 in the same period last year[32] - The company reported a net loss attributable to the parent company of ¥720,813.63 for Q3 2018, compared to a profit of ¥58,934,861.15 in the same period last year[33] - The total profit for the first nine months was -¥2,445,440.70, compared to a profit of ¥30,459,802.90 in the same period last year[34] Cash Flow - Net cash flow from operating activities was negative at CNY -65,714,211.10, a decrease of 331.84% compared to the same period last year[7] - Cash flow from operating activities for the first nine months was ¥151,085,996.28, down from ¥212,004,241.91 in the previous year[37] - Operating cash inflow for Q3 2018 totaled CNY 162,398,631.50, while cash outflow was CNY 228,112,842.60, resulting in a net cash flow of -CNY 65,714,211.10[38] - Investment cash inflow amounted to CNY 402,611,558.28, with cash outflow of CNY 388,039,922.83, leading to a net cash flow of CNY 14,571,635.45[38] - Financing cash inflow was CNY 170,588,000.00, while cash outflow reached CNY 250,866,597.23, resulting in a net cash flow of -CNY 80,278,597.23[39] - For the first nine months of 2018, operating cash inflow was CNY 4,231,669.52, with cash outflow of CNY 56,992,791.03, resulting in a net cash flow of -CNY 52,761,121.51[42] - Investment cash inflow for the first nine months was CNY 430,906,900.08, while cash outflow was CNY 476,364,684.19, leading to a net cash flow of -CNY 45,457,784.11[43] - Financing cash inflow for the first nine months totaled CNY 250,000,000.00, with cash outflow of CNY 196,754,138.89, resulting in a net cash flow of CNY 53,245,861.11[43] Assets and Liabilities - Total assets decreased by 10.51% to CNY 2,498,548,221.55 compared to the end of the previous year[7] - Cash and cash equivalents decreased by CNY 13,142.12 million to CNY 175.01 million, primarily due to payments for equity transfer[13] - Other receivables decreased by CNY 9,628.12 million to CNY 38.61 million, mainly due to performance compensation being reclassified to investment costs[13] - Other current assets decreased by CNY 14,370.91 million to CNY 25.06 million, attributed to a decline in the balance of financial products held[13] - Short-term borrowings decreased by CNY 5,000.00 million to CNY 40.00 million, reflecting repayments of bank loans[14] - As of September 30, 2018, total assets amounted to RMB 2.50 billion, down from RMB 2.79 billion at the beginning of the year[24] - Total assets decreased to ¥2,027,945,840.16 from ¥2,135,193,470.09 at the beginning of the year, reflecting a decline of 5.0%[29] - Current assets totaled ¥424,899,510.73, down 20.1% from ¥531,985,536.50 at the start of the year[28] - The company’s total liabilities decreased to ¥341,571,251.70 from ¥446,058,768.46, a reduction of 23.4%[29] - Shareholders' equity totaled ¥1,686,374,588.46, slightly down from ¥1,689,134,701.63 at the beginning of the year[29] Expenses - Operating costs for the period were RMB 11.84 million, down RMB 14.18 million year-on-year, primarily due to a decrease in film and television revenue[15] - Sales expenses decreased to RMB 3.96 million, a reduction of RMB 28.48 million year-on-year, mainly due to a large promotional campaign in 2017[15] - R&D expenses increased to RMB 57.07 million, up RMB 30.19 million year-on-year, attributed to the consolidation of Qiyao Entertainment since August 2017[15] - Financial expenses rose to RMB 9.80 million, an increase of RMB 6.98 million year-on-year, mainly due to increased loan interest from a subsidiary[16] - The company reported a significant increase in management expenses, totaling ¥11,709,248.51 for the first nine months, compared to ¥10,420,675.05 last year[34] Investment Activities - The company plans to issue non-public corporate bonds not exceeding RMB 600 million to optimize its financial structure[19] - The company recognized investment income of ¥3,631,515.88 for the first nine months, down from ¥5,306,301.37 in the previous year[34] - The company received CNY 588,000.00 from investment and CNY 40,000,000.00 from loans during the financing activities[39] - The company reported a significant increase in cash received from other operating activities, totaling CNY 10,436,059.89 in Q3 2018[38]