2021 年第一季度报告 公司代码：600959 公司简称：江苏有线 江苏省广电有线信息网络股份有限公司 2021 年第一季度报告 1 / 20 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 20 2021 年第一季度报告 单位：元 币种：人民币 3 / 20 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人姜龙、主管会计工作负责人王展 及会计机构负责人（会计主管人员）景旭保证季 度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |------------------------------------------------|---- ...

Financial Performance - The company's operating revenue for 2020 was CNY 7,344,668,616.59, a decrease of 3.99% compared to CNY 7,650,253,644.81 in 2019[25] - The net profit attributable to shareholders of the listed company was CNY 168,598,929.09, down 49.08% from CNY 331,094,565.13 in the previous year[25] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -236,875,272.10, a decline of 348.88% compared to CNY 95,175,887.60 in 2019[25] - The net cash flow from operating activities was CNY 2,494,802,980.82, a decrease of 4.81% from CNY 2,620,761,773.56 in 2019[25] - Basic earnings per share (EPS) decreased by 57.14% to CNY 0.03 from CNY 0.07[28] - Diluted EPS also decreased by 57.14% to CNY 0.03 from CNY 0.07[28] - The weighted average return on equity (ROE) decreased by 0.76 percentage points to 0.78% from 1.54%[28] - The company reported a significant decline in net profit, indicating potential challenges in maintaining profitability moving forward[25] Cash Flow and Assets - As of the end of 2020, the total assets amounted to CNY 33,713,490,589.24, an increase of 3.47% from CNY 32,582,617,115.22 at the end of 2019[25] - The net cash flow from operating activities for Q4 2020 was CNY 1,051,150,607.48, up from CNY 551,914,741.67 in Q3 2020[29] - The company reported a 205.27% increase in net cash flow from financing activities, amounting to ¥259,003,237.57[64] User Base and Market Position - The company has a total of 15.31 million effective digital TV customers and 35.77 million broadband customers as of the end of 2020, with an interactive penetration rate of 54%[40] - The company achieved a year-on-year growth of 25.16% in high-definition and ultra-high-definition users, reaching over 100 million users[38] - The company has been recognized as one of the "Top 30 Cultural Enterprises in the Country" for 11 consecutive years, reflecting its strong market position[42] Strategic Initiatives and Innovations - The company is transitioning from a single traditional business model to a diversified profit model, focusing on interactive on-demand, broadband networks, and smart city services[40] - The company is focusing on the development of a unified "cloud industry" platform and advancing 5G core network construction[51] - The company is implementing a "content ecosystem" construction project to enhance content supply and meet user expectations, leveraging technologies like cloud computing and artificial intelligence[83] - The company plans to enhance its innovation capabilities by integrating new technologies such as 5G, artificial intelligence, and blockchain into its operations, aiming for a robust digital economy foundation[76] Challenges and Risks - The company faces challenges from competition with telecom operators and internet companies, which may lead to accelerated user attrition[73] - The company emphasizes the importance of risk awareness regarding future plans and potential market challenges[8] - The company is committed to improving its internal control systems and financial management to enhance operational efficiency and reduce costs[86] Corporate Governance and Shareholder Information - The actual controller of the company is the Jiangsu Provincial Government[183] - The company has a commitment related to the initial public offering (IPO) that prohibits the transfer of shares for 36 months from the date of listing[99] - The company has designated 2021 as the "Year of Innovation and Leap" to align with national media integration and 5G development requirements[77] Social Responsibility and Community Engagement - The company invested 500 million in cash to acquire shares in China Broadcasting Network Corporation to enhance its platform and resources[48] - The company invested a total of 106 million RMB in poverty alleviation projects, helping 231 registered impoverished individuals to escape poverty[146] - The company continues to provide fee waivers for digital TV services to low-income households and vulnerable groups[151]

Financial Performance - Operating revenue for the first nine months was ¥5,335,213,598.52, a decrease of 2.31% compared to the same period last year[19]. - Net profit attributable to shareholders of the listed company decreased by 23.23% to ¥318,216,195.29[19]. - Basic earnings per share (diluted) decreased by 25% to ¥0.06[21]. - Operating profit decreased by 35.72% to CNY 224,339,717.39, primarily due to a decline in operating revenue[32]. - Total revenue for Q3 2020 was approximately ¥708.84 million, a decrease of 1.06% compared to ¥719.61 million in Q3 2019[66]. - Net profit for Q3 2020 reached approximately ¥178.39 million, up 27.14% from ¥140.35 million in Q3 2019[66]. - The company reported a total profit of approximately ¥178.47 million for Q3 2020, compared to ¥140.42 million in Q3 2019, marking a 27.1% increase[66]. - The company’s operating profit for Q3 2020 was approximately ¥73.21 million, compared to ¥45.78 million in Q3 2019, an increase of 60%[70]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥33,109,993,523.61, an increase of 1.62% compared to the end of the previous year[19]. - Total liabilities amounted to ¥10,581,592,646.27, an increase of 3.2% from ¥10,249,213,275.59[47]. - Current assets totaled ¥8,028,552,893.59, an increase of 1.5% from ¥7,913,069,834.66[44]. - Total current assets were reported at $7.91 billion, with inventory valued at $849.97 million[86]. - The total amount of accounts receivable increased to ¥802,389,956.99, up from ¥757,172,489.34, which is a rise of 5.9%[44]. - The total amount of other current assets was ¥2,771,783,474.27, slightly up from ¥2,744,861,069.84, indicating a growth of 1.0%[44]. - Total non-current assets reached RMB 24,265,863,437.38, including fixed assets of RMB 9,044,515,818.68[96]. Shareholder Information - Net assets attributable to shareholders of the listed company were ¥21,784,366,520.87, reflecting a 0.79% increase year-on-year[19]. - The total number of shareholders at the end of the reporting period was 119,576[27]. - The largest shareholder, Jiangsu Guojin Group, held 47.52% of the shares, totaling 2,376,514,129 shares[27]. - The company’s total circulating shares held by Jiangsu Guojin Group reached 2,376,514,129, accounting for 47.52% of the total share capital after the transfer of state-owned equity[34]. Cash Flow - The net cash flow from operating activities for the first nine months was ¥1,443,652,373.34, an increase of 5.70% year-on-year[19]. - The cash inflow from financing activities in the first three quarters of 2020 was approximately ¥631 million, an increase from ¥413.6 million in the same period of 2019[80]. - The cash and cash equivalents at the end of the third quarter of 2020 were approximately ¥2.88 billion, down from ¥5.15 billion at the end of the same period in 2019[80]. - The total cash inflow from operating activities in the first three quarters of 2020 was approximately ¥30.65 billion, a significant increase from ¥2.51 billion in the same period of 2019[82]. - The net cash flow from investment activities was approximately -¥1.93 billion in the first three quarters of 2020, compared to -¥1.18 billion in the same period of 2019[78]. Investments and Expenses - Long-term equity investments surged by 101.78% to CNY 681,984,345.47, attributed to new investments[30]. - The company reported a significant increase in prepayments, rising by 30.01% to CNY 272,990,724.09 due to increased purchase payments[30]. - Research and development expenses for Q3 2020 were CNY 3,567,975.39, compared to CNY 3,696,833.25 in Q3 2019, indicating a decrease of approximately 3.5%[61]. - The company reported a 358.66% increase in interest expenses, amounting to CNY 28,019,324.54, due to the capitalization of interest expenses[32]. - The company’s dividend payable increased by 102.56% to CNY 64,991,924.55, reflecting the distribution of dividends by the parent company[30]. Future Outlook - Future outlook includes continued focus on cost management and potential market expansion strategies, although specific figures were not provided in the current report[66].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 3,499,765,029.52, a decrease of 5.67% compared to the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 159,368,104.28, down 43.94% year-on-year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 59,519,628.74, a decline of 71.68% compared to the previous year[21]. - Basic earnings per share for the first half of 2020 were CNY 0.03, a decrease of 50.00% compared to the same period last year[21]. - The weighted average return on net assets was 0.73%, down 0.59 percentage points year-on-year[21]. - The company reported a total comprehensive income attributable to the parent company for the first half of 2020 was CNY 159,368,104.28, down from CNY 284,302,692.06 in the same period of 2019[125]. - The company reported a net loss of approximately ¥330.80 million for the current period[162]. - The total comprehensive income for the period is approximately ¥162.25 million[162]. Cash Flow and Financial Position - The net cash flow from operating activities was CNY 891,737,631.67, an increase of 15.42% year-on-year[21]. - The net cash flow from investing activities decreased significantly by 61.37%, amounting to -¥1,372,870,836.19 compared to -¥850,769,307.88 last year[44]. - The net cash flow from financing activities improved to ¥272,191,555.90, a change of -153.37% from -¥510,052,039.34 in the previous year[44]. - Cash inflow from operating activities totaled CNY 3,515,069,519.58, an increase from CNY 1,616,175,443.05 in the previous year[141]. - Cash outflow from investing activities amounted to CNY 3,008,502,992.29, compared to CNY 855,867,457.32 in the prior year, resulting in a net cash flow of -CNY 928,829,068.37[141]. - The ending cash and cash equivalents balance was CNY 1,849,418,895.39, up from CNY 1,394,097,800.10 at the end of the previous year[143]. - The company's cash and cash equivalents decreased to approximately CNY 2.83 billion from CNY 3.20 billion, representing a decline of 11.41%[107]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 32,749,910,574.63, reflecting a 0.51% increase from the end of the previous year[21]. - The total liabilities as of June 30, 2020, were approximately CNY 10.25 billion, a marginal increase from CNY 10.25 billion at the end of 2019[112]. - The company's total equity increased to approximately CNY 22.50 billion from CNY 22.33 billion, marking a growth of 0.75%[112]. - The company's total liabilities were reported at CNY 2,931,263,385.33, indicating a manageable debt level[156]. - The total number of ordinary shareholders reached 126,652 by the end of the reporting period[95]. User Metrics and Market Position - The company has a total of 15.42 million effective digital TV customers and 26.67 million effective digital TV terminals as of mid-2020[33]. - The broadband residential user count reached 3.77 million, indicating a significant user base in the broadband segment[33]. - The company experienced a net decrease of 3.1 million cable TV users in Q1 2020, bringing the total to 206 million[31]. - The company’s dual-way network coverage reached 180 million users, with a penetration rate of 50.20%[31]. - The company’s video-on-demand users totaled 73.1 million, with 20.51 million users accessing 4K video content[31]. Innovation and Development - The company has launched several innovative products, including "Youxianbao" and "Xiaole Shenzhou," enhancing its service offerings[33]. - The company intends to strengthen content production and create a content ecosystem by collaborating with internet content giants[41]. - The company will prioritize technological innovation and upgrade its platforms to enhance content delivery and monetization[41]. - Research and development expenses increased by 11.46% to ¥8,283,094.49 from ¥7,431,352.81 year-on-year[44]. Social Responsibility and Community Engagement - The company has implemented a targeted poverty alleviation plan, focusing on enhancing the collective economy of economically weak villages[80]. - The company has allocated approximately 30,000 RMB in aid and living supplies to low-income households and disabled individuals[80]. - The company aims to increase the income of low-income populations by providing employment and skills training opportunities[80]. - The company is committed to providing basic public cultural services to disadvantaged groups, including waiving digital TV fees for low-income households[85]. Corporate Governance and Compliance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[6]. - The company has no significant litigation or arbitration matters during the reporting period[71]. - There are no updates on stock incentive plans or employee stock ownership plans during the reporting period[73]. - The company is committed to optimizing its internal control systems to ensure compliance and risk management as part of its high-quality development strategy[41]. Market Risks and Competition - The company faces risks from intensified market competition due to the integration of telecommunications, broadcasting, and internet services[56]. - The company plans to enhance user retention and acquisition by focusing on reducing churn, expanding new users, and re-engaging existing users[40].

2020 年第一季度报告 公司代码：600959 公司简称：江苏有线 江苏省广电有线信息网络股份有限公司 2020 年第一季度报告 1 / 24 2020 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2020 年第一季度报告 单位：元 币种：人民币 3 / 24 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人姜龙、主管会计工作负责人王展 及会计机构负责人（会计主管人员）景旭保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |------------------------------------------------|---- ...

Financial Performance - The company's operating revenue for 2019 was CNY 7,650,253,644.81, a decrease of 2.98% compared to CNY 7,884,977,231.67 in 2018[24] - The net profit attributable to shareholders for 2019 was CNY 331,094,565.13, down 46.97% from CNY 624,398,559.14 in 2018[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 95,175,887.60, a decline of 77.50% compared to CNY 423,022,091.00 in 2018[24] - The net cash flow from operating activities for 2019 was CNY 2,620,761,773.56, a decrease of 15.21% from CNY 3,090,728,315.71 in 2018[24] - Basic earnings per share for 2019 were CNY 0.07, a decrease of 50.00% compared to CNY 0.14 in 2018[25] - Diluted earnings per share for 2019 were also CNY 0.07, reflecting the same 50.00% decrease from CNY 0.14 in 2018[25] - Basic earnings per share (excluding non-recurring gains and losses) decreased by 80.00% to CNY 0.02 from CNY 0.10[28] - Weighted average return on equity decreased by 2.18 percentage points to 1.54% from 3.72%[28] - The company achieved a total operating revenue of 7.65 billion RMB and a net profit attributable to shareholders of 331 million RMB in 2019[55] Cash Flow and Investments - The company reported a significant increase in cash outflow from investment activities, totaling -¥4,988,444,227.97, compared to -¥2,586,542,564.62 in the previous year, a change of 92.86%[56] - The net cash flow from investing activities increased significantly by 92.86%, resulting in a cash outflow of ¥4,988,444,227.97, up from ¥2,586,542,564.62 last year, primarily due to increased investments[67] - Cash and cash equivalents decreased by 43.54%, totaling ¥3,196,718,066.92, down from ¥5,662,235,568.22, primarily due to increased investment activities[70] - The proportion of cash and cash equivalents to total assets decreased from 17.57% to 9.81%[70] Business Operations and Strategy - The company primarily engages in the construction and operation of broadcasting networks, providing services such as program transmission and broadband data services[38] - The company aims to provide high-quality services and ensure reliable broadcasting support for local media outlets[38] - The company has maintained its main business focus since its establishment in 2008, with no significant changes in its operational strategy[38] - The company plans to implement a strategy focusing on standardization, refined management, diversification of services, asset lightening, and operational ecology to enhance market competitiveness[80] - The company aims to explore new technologies and develop new platforms to drive high-quality growth in the broadcasting network sector[81] User Engagement and Market Trends - In Q3 2019, the total number of cable TV users in China decreased by 6.644 million, reaching 212 million, with a market share of 47.43%[41] - The number of cable digital TV users decreased by 4.352 million, totaling 193 million, with a digitalization rate of 90.70%[41] - The number of cable digital TV paying users increased by 1.149 million, reaching 145 million, with a payment rate of 75.40%[41] - The number of broadband users reached 41.63 million, showing continuous growth[41] - The interactive business user base approached 70 million, indicating a significant growth in user engagement[41] Innovations and Product Development - The company launched several innovative products, including "Health Jiangsu" and "Famous Teacher Online Classroom," which significantly increased user engagement during the pandemic[46] - The company achieved a dual-route network protection system for its cable TV network, becoming the first in the country to do so[46] - The company launched a unified "View•World" all-business brand package, which has received multiple awards for innovation in cultural work[54] - The company’s "Online Classroom" program reached 6,800 primary and secondary schools, serving 8.9 million student households with over 42 million on-demand views[54] Social Responsibility and Community Engagement - The company invested over 2.4 million RMB in social welfare projects, including the construction of a digital television project in Cambodia, marking its first international expansion[54] - The company has implemented targeted poverty alleviation measures, helping 231 registered impoverished individuals to escape poverty[157] - A total of 150 units of funding and 6 units of material assistance were provided for poverty alleviation efforts[157] - The company provided vocational skills training for 20 individuals, facilitating their employment[160] - The company plans to continue its poverty alleviation efforts in 2020, focusing on increasing collective economic income and per capita income for low-income populations[161] Shareholder and Equity Structure - The total number of ordinary shares increased to 5,000,717,686 after the issuance of 70,257,611 new shares, representing a 1.42% increase[169] - The proportion of restricted shares decreased from 21.22% to 10.87%, with 572,453,736 shares released for circulation, accounting for 11.45% of the total share capital[171] - The company reported a significant reduction in state-owned shares, decreasing from 19.04% to 9.42% after the release of restricted shares[169] - The company’s major shareholders include various media and investment firms, with the largest being Jiangsu Zijin Cultural Industry Fund holding 80,693,802 shares[176] Future Outlook and Growth Projections - The company projects a revenue growth of 20% for the next quarter, aiming for $1.44 billion[200] - New product line expected to contribute an additional $200 million in revenue by Q4 2023[200] - Market expansion efforts in Asia are anticipated to drive a 30% increase in sales in that region[200] - The company plans to launch a new subscription service projected to generate $100 million annually[200]

2019 年第三季度报告 公司代码：600959 公司简称：江苏有线 江苏省广电有线信息网络股份有限公司 2019 年第三季度报告 1 / 27 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 27 2019 年第三季度报告 单位：元 币种：人民币 3 / 27 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王国中、主管会计工作负责人王展 及会计机构负责人（会计主管人员）景旭保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------|------------------------------|------------------------------------|-------- ...

Financial Performance - The company's operating revenue for the first half of 2019 was ¥3,710,108,941.17, a decrease of 5.07% compared to ¥3,908,309,332.05 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥284,302,692.06, down 17.11% from ¥342,980,699.18 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥210,179,741.62, a decline of 29.15% compared to ¥296,657,715.57 in the same period last year[22]. - The basic earnings per share for the first half of 2019 was ¥0.06, a decrease of 33.33% from ¥0.09 in the same period last year[23]. - The diluted earnings per share also stood at ¥0.06, reflecting a 33.33% decline compared to the previous year[23]. - The weighted average return on net assets was 1.32%, down 1.21 percentage points from 2.53% in the same period last year[23]. - The total assets at the end of the reporting period were ¥31,739,868,411.02, a decrease of 1.52% from ¥32,230,022,989.89 at the end of the previous year[22]. - The net cash flow from operating activities was ¥772,589,068.87, down 12.37% from ¥881,667,587.63 in the same period last year[22]. - Operating costs amount to ¥2,709,592,437.19, reflecting a decrease of 1.53% from ¥2,751,598,050.85 year-on-year[46]. - The net cash flow from investing activities is -¥850,769,307.88, a decrease of 18.80% compared to -¥1,047,742,654.21 in the previous year[46]. - The net cash flow from financing activities is -¥510,052,039.34, an increase of 689.97% from -¥64,566,133.35 in the same period last year[46]. User Metrics and Market Position - As of the first half of 2019, the total number of cable television users in China was 219 million, with a net decrease of 3.86 million users, resulting in a market share drop to 49.02%[30]. - The number of cable digital television users decreased by 1.14 million, reaching 197 million, with a digitalization rate of 90%[30]. - Cable broadband users reached 40.11 million, indicating a slow growth trend in broadband services[32]. - The number of users with two-way network coverage reached 174 million, with a penetration rate of 46.2%[32]. - The number of 4K video on-demand users reached 16.10 million, reflecting a growing trend in user upgrades towards advanced technology[32]. - The overall industry shows a trend of slowing user loss in cable digital television, with a slight increase in digitalization rates[32]. Business Operations and Strategy - The company primarily engages in the construction and operation of broadcasting networks, data broadband services, and digital television value-added services, maintaining a consistent business model since its establishment in 2008[30]. - The company’s revenue model includes fees from network construction and user access, as well as transmission fees from content providers[30]. - The company has implemented various payment methods for user convenience, including online payment and bank deductions[30]. - The company has successfully reduced the revenue proportion from basic transmission services while increasing the share of value-added services such as interactive, HD, and broadband services[37]. - The company has launched the "Cable Treasure VIP" upgrade series products to enhance user experience and consumption[39]. - The company has developed a new brand for integrated services called "Smart Broadcasting," focusing on various smart city applications across different regions[39]. - The company has strengthened its technical support by unifying technical standards and conducting centralized research and development of set-top boxes[39]. - The company has actively expanded its market presence by exploring new business models and enhancing collaboration with local governments[39]. Financial Health and Liabilities - Accounts receivable increased to ¥45,480,357, a 50.16% increase compared to ¥30,287,045 from the previous period[50]. - Prepayments rose to ¥199,595,528, reflecting a 75.67% increase from ¥113,619,554[50]. - Other payables decreased to ¥819,612,509, a 21.08% decline from ¥1,038,549,028 due to cash payments for major asset restructuring[50]. - Interest payable increased significantly by 142.92% to ¥22,462,265 from ¥9,246,709[50]. - Dividends payable surged by 283.47% to ¥122,860,442 from ¥32,038,960, attributed to unpaid dividends to certain shareholders[50]. - Current liabilities totaled ¥8,557,401,590.62 as of June 30, 2019, compared to ¥9,112,298,035.00 on December 31, 2018, showing a decline of approximately 6.1%[115]. - The company's short-term borrowings remained stable at ¥95,000,000.00 as of June 30, 2019, compared to ¥95,808,719.85 on December 31, 2018[115]. - Long-term borrowings decreased to ¥21,000,000.00 as of June 30, 2019, from ¥22,747,753.55 on December 31, 2018, indicating a reduction of approximately 7.7%[115]. Shareholder Information and Equity - The total share capital of the company reached 5,000,717,686 shares after the completion of a non-public offering of new shares for raising supporting funds[34]. - The total number of shares increased from 4,930,460,075 to 5,000,717,686, reflecting an increase of 70,257,611 shares due to a private placement[94]. - The proportion of restricted shares increased from 21.22% to 22.32% after the issuance, while unrestricted shares decreased from 78.78% to 77.68%[94]. - The number of shareholders reached 136,862 by the end of the reporting period[98]. - The largest shareholder, Jiangsu Broadcasting Television Information Network Investment Co., held 700,765,182 shares, representing 14.01% of total shares[101]. - CITIC Guoan Communication Co., Ltd. reduced its holdings by 79,253,624 shares, holding 512,116,336 shares, which is 10.24% of total shares[101]. Corporate Governance and Compliance - The company has committed to protecting investor interests and addressing any unfulfilled public commitments[70]. - The company will repurchase shares if the prospectus is found to contain false statements or omissions, with the repurchase price adjusted for interest accrued since the IPO[68]. - The company must publicly apologize and provide explanations for any unfulfilled commitments, along with potential salary reductions for responsible executives[68]. - The company is required to disclose any share repurchase plans three trading days prior to execution[66]. - The company must comply with relevant laws and regulations regarding share reduction methods post-lockup[66]. Social Responsibility and Community Engagement - The company has implemented targeted poverty alleviation measures, focusing on economic development in weak villages, with a total investment of 30.40 million RMB for poverty alleviation efforts[84]. - A total of 59 registered impoverished individuals have been lifted out of poverty during the reporting period[85]. - The company provided approximately 50,000 RMB in assistance to low-income households and individuals with disabilities[85]. - The company has installed over 160 solar streetlights in the village to improve living conditions and accessibility for residents[85]. - The company plans to continue its poverty alleviation efforts in 2019, aiming for high-quality completion of its poverty alleviation tasks[89]. Research and Development - The company has established a research center focused on next-generation broadcasting and IoT technologies[170]. - Research and development expenses increased to CNY 7,431,352.81 from CNY 6,888,780.98, marking a rise of about 7.9%[128]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the Chinese Accounting Standards, reflecting the company's financial position and operating results accurately[176]. - The company employs the equity method for mergers under common control and the purchase method for mergers not under common control[182]. - The company recognizes goodwill for mergers where the acquisition cost exceeds the fair value of identifiable net assets acquired[182]. - The company follows the continuous operation basis for financial reporting, ensuring sustainability for at least 12 months from the reporting date[175].

2019 年第一季度报告 公司代码：600959 公司简称：江苏有线 江苏省广电有线信息网络股份有限公司 2019 年第一季度报告 1 / 24 2019 年第一季度报告 í 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2019 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王国中、主管会计工作负责人王展 及会计机构负责人（会计主管人员）景旭保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-----------------------------------------------|------ ...

Financial Performance - The company's operating revenue for 2018 was approximately ¥7.88 billion, a decrease of 2.60% compared to ¥8.10 billion in 2017[28] - The net profit attributable to shareholders for 2018 was approximately ¥624.40 million, down 20.30% from ¥783.47 million in 2017[28] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥423.02 million, a decrease of 38.22% from ¥684.70 million in 2017[28] - The net cash flow from operating activities for 2018 was approximately ¥3.09 billion, an increase of 11.82% compared to ¥2.76 billion in 2017[28] - The net assets attributable to shareholders at the end of 2018 were approximately ¥21.50 billion, representing a 60.94% increase from ¥13.36 billion at the end of 2017[28] - Basic earnings per share decreased by 30.00% to CNY 0.14 from CNY 0.20 in the previous year[31] - The weighted average return on equity decreased to 3.72% from 5.95% in the previous year, a decline of 2.23 percentage points[31] - The company reported a net cash flow from operating activities of CNY 1,792,710,792.48 in Q4 2018, showing strong cash generation capabilities[32] - The company achieved a user churn rate of 4.29%, a year-on-year decrease of 1.82 percentage points[49] Revenue Streams and User Metrics - The company’s business model includes revenue from network construction fees and user fees for television and broadband services, indicating a diversified income stream[39] - The company reported a decline in cable TV users, with a net decrease of 7 million digital TV paying users, reflecting a negative growth trend in the cable TV sector[48] - The total number of broadband users increased by 3.58 million in 2018, reaching a total of 38.56 million users[48] - The company’s digital TV user payment rate stood at 74.60%, with a total of 14.6 million paying users[48] - The total number of OTT users reached 164 million, with a net increase of over 53 million users, indicating a growing trend in alternative viewing platforms[48] - The number of high-definition TV users increased to 4.4094 million, up from 4.1119 million, representing a growth of 29.75%[94] - The total number of broadband users reached 2.9217 million, an increase of 53,000 users compared to the previous period[94] - The number of paid channel users rose to 6.4609 million, reflecting a net increase of 832,300 users, or 14.79%[94] Operational Developments - The company continues to focus on the construction and operation of broadcasting networks, emphasizing the integration of services across different levels of government[39] - The company completed the acquisition of 100% equity in a development company, enhancing its asset portfolio and operational capabilities[43] - The company is advancing the next-generation broadcasting network (NGB) strategy, focusing on high-performance coaxial cable technology to enhance service quality without new line deployment[77] - The company is actively promoting the integration of three networks, expanding its business scope across the province and enhancing media convergence[78] - The company is exploring new generation information technologies such as cloud computing and artificial intelligence to deepen the integration of cable TV and modern information services[85] Challenges and Risks - The company has detailed potential risks in its report, particularly in the section discussing future development challenges[10] - The company faces challenges from the rapid growth of internet-based entertainment options, which are leading to accelerated user attrition[103] - The company is addressing risks related to market competition from IPTV and OTT TV services due to the convergence of telecommunications, broadcasting, and internet networks[117] - The company is enhancing security measures for content transmission to mitigate risks associated with transmission safety[117] Corporate Governance and Compliance - The audit report issued by Jiangsu Suya Jincheng Accounting Firm was a standard unqualified opinion[7] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[10] - The company has not violated decision-making procedures for providing guarantees[10] - The company has not faced any risks of suspension or termination of its listing status[140] - The company reported no significant litigation or arbitration matters during the fiscal year[142] Social Responsibility and Community Engagement - The company invested 100 million in poverty alleviation projects, helping 73 registered impoverished individuals to escape poverty[165] - A total of 1.5 million was allocated for vocational skills training, benefiting 18 individuals[165] - The company provided 1 million in funding for impoverished students, assisting 16 students[165] - The company constructed a 3-kilometer cement road to improve transportation conditions for villagers[160] - The company has implemented measures to support vulnerable groups by waiving digital TV fees for low-income households[169] Shareholder Information and Stock Management - The company plans to distribute cash dividends of 1.00 RMB per 10 shares, totaling 493,046,007.50 RMB based on a total share count of 4,930,460,075 shares as of December 31, 2018[119] - The company reported a net profit of 624,398,559.14 RMB for 2018, with a cash dividend payout ratio of 78.96%[122] - The total number of ordinary shares increased to 4,930,460,075 after issuing 1,045,930,276 new shares for asset acquisition[179] - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its stock listing[123] - The company will ensure that any share reduction price does not fall below the adjusted initial public offering price after any dividend or capital increase events[124]