Financial Performance - Operating revenue for the first nine months reached CNY 6.53 billion, a 3.82% increase from the same period last year[6] - Net profit attributable to shareholders increased by 16.26% to CNY 1.12 billion compared to the previous year[6] - Basic earnings per share rose by 1.89% to CNY 0.54 per share[6] - Total operating revenue for the third quarter was CNY 2,130,602,287.97, a decrease of 8.5% compared to CNY 2,328,977,229.65 in the same period last year[22] - Year-to-date revenue reached CNY 6,533,082,941.72, an increase of 3.8% from CNY 6,292,450,606.95 in the previous year[22] - The company reported a net profit of CNY 1,425,486,735.97 for the year-to-date, compared to CNY 1,369,786,210.23 in the previous year[20] - The total profit for Q3 2018 was CNY 371,954,185.55, compared to CNY 286,763,875.84 in Q3 2017, indicating a growth of 29.7%[23] - The net profit for the third quarter of 2018 was CNY 58,204,515.60, compared to CNY 57,200,362.49 in the same period last year, showing a slight increase[26] Assets and Liabilities - Total assets increased by 5.90% to CNY 14.17 billion compared to the end of the previous year[6] - Total liabilities increased to CNY 2,511,766,053.01 from CNY 2,053,948,595.08 at the start of the year[20] - Cash and cash equivalents decreased by 37.06% to ¥3,845,887,258.30 from ¥6,110,680,396.77, primarily due to funds raised for purchasing financial products[10] - Accounts receivable increased by 33.08% to ¥1,740,183,937.54 from ¥1,307,630,047.84, mainly due to uncollected payments for autumn teaching materials[10] - Inventory rose by 40.12% to ¥2,112,281,198.36 from ¥1,507,513,132.20, attributed to seasonal sales of educational materials and increased printing paper[10] - Total assets as of September 30, 2018, amounted to CNY 9,693,989,089.44, up from CNY 9,200,097,105.77 at the beginning of the year[20] - The company experienced a 95.81% decrease in taxes payable, dropping to ¥2,310,346.74 from ¥55,185,080.73, primarily due to reduced uncollected VAT at the end of the reporting period[10] Cash Flow - Net cash flow from operating activities was CNY 116.08 million, a significant recovery from a negative cash flow of CNY 72.40 million in the previous year[6] - Cash inflow from operating activities for the first nine months of 2018 was CNY 6,205,930,343.11, an increase from CNY 5,518,210,212.77 in the previous year[27] - The net cash flow from operating activities for the first nine months of 2018 was CNY 116,077,651.90, recovering from a net outflow of CNY 72,403,406.48 in the same period last year[29] - Cash flow from investment activities showed a net outflow of CNY 1,914,817,508.82 for the first nine months of 2018, compared to a net outflow of CNY 281,233,395.04 in the previous year[29] - The total cash outflow for financing activities was CNY 484,137,327.02, compared to CNY 440,713,688.12 in the same period last year[29] - The company reported a tax refund of CNY 56,558,724.83 in the first nine months of 2018, compared to CNY 3,654,871.31 in the previous year[28] Shareholder Information - The total number of shareholders reached 79,850 by the end of the reporting period[8] - The largest shareholder, Shandong Publishing Group Co., Ltd., holds 76.81% of the shares[9] Other Financial Metrics - Non-recurring gains and losses totaled CNY 10.82 million for the reporting period[7] - Investment income increased by 195.60% to ¥33,238,251.85 from ¥11,244,422.12, primarily due to higher returns from financial investments[11] - Other income rose by 89.03% to ¥107,841,955.22 from ¥57,051,314.98, mainly due to increased government subsidies[11] - The company reported a significant increase in employee compensation liabilities, rising by 85.37% to ¥146,804,249.57 from ¥79,194,774.33, due to accrued performance bonuses[10] - The company’s financial expenses for Q3 2018 were CNY 2,263,780.88, compared to CNY 2,038,224.25 in Q3 2017, an increase of 11.0%[23] - Other income for Q3 2018 was CNY 39,178,834.63, significantly higher than CNY 4,726,361.24 in Q3 2017, representing an increase of 728.5%[23]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 4,402,480,653.75, representing an increase of 11.08% compared to CNY 3,963,473,377.30 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 746,256,983.30, up by 10.51% from CNY 675,286,893.29 year-on-year[20]. - The net cash flow from operating activities increased significantly by 112.08%, reaching CNY 392,569,895.05 compared to CNY 185,101,499.27 in the previous year[20]. - The total assets at the end of the reporting period were CNY 13,623,649,427.16, reflecting a growth of 1.82% from CNY 13,380,471,418.98 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 2.80%, amounting to CNY 8,946,660,097.13 compared to CNY 8,702,992,113.83 at the end of the previous year[20]. - Basic earnings per share for the first half of 2018 were CNY 0.36, a decrease of 2.70% from CNY 0.37 in the same period last year[21]. - The weighted average return on net assets decreased by 4.20 percentage points to 8.24% compared to 12.44% in the previous year[21]. - The company reported a significant increase in cash received from the recovery of investments, amounting to CNY 2,050,000,000.00, up from CNY 290,000,000.00[125]. Revenue Segments - The publishing segment generated revenue of 1.045 billion yuan, up 15.31% year-on-year[37]. - The bookstore group reported revenue of 2.892 billion yuan, a growth of 6.20% compared to the previous year[39]. - The material supply and foreign trade segment achieved revenue of 1.456 billion yuan, increasing by 29.55% year-on-year[41]. - The profit for the material supply and foreign trade segment reached 52.61 million yuan, a significant increase of 100.87%[41]. Investments and Financial Position - The total investment amount during the reporting period reached RMB 458.37 million, a significant increase of RMB 446.66 million (3,813.77%) compared to the same period last year[55]. - The major investment was directed towards 12 wholly-owned subsidiaries, specifically for fundraising project construction[55]. - The largest single investment was made in Shandong Xinhua Bookstore Group Co., Ltd., amounting to RMB 342.22 million, representing a 100% equity stake[56]. - The company reported a total asset value of RMB 715.98 million for Shandong Xinhua Bookstore Group Co., Ltd.[58]. Operational Highlights - The company has a workforce of 5,864 professionals in sales and various technical roles, representing 57.6% of the total employee count[32]. - The company has 463 employees with master's degrees or higher, and 2,535 employees with bachelor's degrees or higher, indicating a strong educational background among its workforce[32]. - The company operates a full industry chain in publishing, distribution, printing, and material trade, integrating traditional and emerging business models[26]. - The company is focusing on digital transformation and the integration of traditional publishing with new media[36]. Social Responsibility and Community Engagement - The company donated over 10,000 books to schools in impoverished areas, contributing a total of CNY 166.04 million in funds and CNY 49.05 million in material support for poverty alleviation efforts in the first half of 2018[45]. - The company has helped 25 villages in poverty alleviation initiatives, focusing on improving educational resources and building "Xinhua Primary Schools"[45]. - The company allocated 1.6604 million RMB for targeted poverty alleviation efforts during the reporting period[81]. - The company has actively participated in various poverty alleviation projects, including building high-standard intelligent greenhouses[81]. Risks and Challenges - The company is facing pressures from rising raw material costs, particularly paper prices, which have been increasing since 2015[61]. - There are risks associated with policy changes regarding the publication and distribution of textbooks, as well as potential expiration of tax incentives[62]. - The company aims to enhance its governance and operational efficiency to mitigate risks related to its traditional business reliance[61]. Shareholder Commitments and Governance - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing[66]. - The company has established a commitment to maintain control and avoid conflicts of interest with its subsidiaries[67]. - The company will not repurchase its shares during the lock-up period[66]. - The company has outlined specific conditions under which shares may be transferred after the lock-up period[67]. Environmental Compliance - The company has implemented VOCs treatment equipment to ensure compliance with environmental standards[88]. - The company achieved a total VOCs emission of 0.76 tons/year, well below the standard of 50 mg/m³[87]. - The company has maintained its environmental management system certification, valid until March 2020[92]. Accounting and Financial Reporting - The company's financial statements are prepared based on the going concern assumption, indicating no significant doubts about its ability to continue operations[140]. - The company’s accounting policies are in accordance with the relevant Chinese accounting standards and regulations[139]. - The company recognizes goodwill when the merger cost exceeds the fair value of identifiable net assets acquired[149]. - The company applies fair value measurement for financial instruments, with initial recognition at fair value and subsequent measurement based on market conditions[162].

2018 年第一季度报告 公司代码：601019 公司简称：山东出版 山东出版传媒股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 7 | 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 未出席董事情况 | 未出席董事姓名 | 未出席董事职务 | 未出席原因的说明 | 被委托人姓名 | | --- | --- | --- | --- | | 王次忠 | 董事 | 出差 | 迟云 | 1.3 公司负责人张志华、主管会计工作负责人宫杰及会计机构负责人（会计主管人员）刘毅保证 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 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | ...

Financial Performance - The company's operating revenue for 2017 was RMB 8,900,920,661.19, representing a 10.79% increase compared to RMB 8,033,958,469.81 in 2016[20] - The net profit attributable to shareholders of the listed company reached RMB 1,364,828,821.10, a 30.32% increase from RMB 1,047,295,669.30 in the previous year[20] - The net assets attributable to shareholders of the listed company increased by 70.99% to RMB 8,702,992,113.83 at the end of 2017, compared to RMB 5,089,671,354.22 at the end of 2016[20] - Total assets rose by 34.75% to RMB 13,380,471,418.98 in 2017, up from RMB 9,929,697,443.76 in 2016[20] - Basic earnings per share increased by 27.59% to CNY 0.74 in 2017 compared to CNY 0.58 in 2016[21] - Diluted earnings per share also rose by 27.59% to CNY 0.74 in 2017 from CNY 0.58 in 2016[21] - The weighted average return on equity increased to 23.51% in 2017, up from 22.14% in 2016, marking a 1.37 percentage point increase[21] - The net profit for 2017 was 1.359 billion yuan, reflecting a year-on-year growth of 26.74%[43] - The total assets of the company reached 13.38 billion yuan, with net assets amounting to 8.705 billion yuan by the end of 2017[43] Cash Flow and Dividends - The net cash flow from operating activities decreased by 43.42% to RMB 659,664,319.18 in 2017, down from RMB 1,165,995,132.99 in 2016[20] - The company proposed a cash dividend of RMB 2.20 per 10 shares, totaling RMB 459,118,000.00 to be distributed to shareholders[4] - The cash dividend for 2017 represents 33.64% of the net profit attributable to ordinary shareholders, compared to 38.57% in 2016[115] - The total number of shares for the 2017 dividend distribution is based on a total share capital of 2,086,900,000 shares[114] Business Operations and Strategy - The company plans to continue its strategic development and expansion in the publishing sector, although specific future plans were not detailed in the report[5] - The company’s main business includes publishing, distribution, and printing, with a focus on textbooks and general books[28] - The company is expanding its business model to include digital publishing and internet media alongside traditional publishing[28] - The company is focusing on innovation in content, distribution, technology, and management to adapt to new challenges[32] - The company is committed to expanding its market presence through strategic partnerships and exploring new business models in education and logistics[107] Market Position and Industry Trends - The publishing industry in China saw a total revenue of RMB 356.6 billion, with a year-on-year growth of 7.2%[33] - The digital reading market experienced rapid growth, with digital reading rates surpassing paper reading rates for the first time in 2017[32] - The company ranked first in total market capitalization within the publishing industry at RMB 26.85 billion by the end of 2017[34] - The publishing industry is supported by favorable national policies, including tax exemptions and incentives for cultural industries[32] - The publishing industry is facing intense competition, necessitating a focus on innovation and adaptation to changing market dynamics[101] Research and Development - R&D expenditure increased by 101.83% to 4.31 million RMB, reflecting a commitment to innovation[55] - The company emphasizes digital transformation and has integrated digital technology with traditional publishing to enhance its core competitiveness[40] Corporate Governance and Compliance - The audit report for the year was issued by Ruihua Certified Public Accountants, confirming the accuracy and completeness of the financial statements[7] - The company has maintained a good integrity status, with no significant debts due that have not been settled[128] - The company has not faced any risks of suspension or termination of listing during the reporting period[128] - The company has established a comprehensive internal and external information disclosure management system to ensure transparency and fairness in information dissemination[5] Social Responsibility and Community Engagement - The company actively participates in social responsibility initiatives, including cultural poverty alleviation and community service[136] - The company donated a total of 3.9 million RMB to four schools during the "Xinhua Bookstore Day" activities, establishing "Shandong Xinhua Hope Primary Schools" and supporting various educational initiatives[138] - The company organized the "Xinhua Bookstore Day" on April 24, promoting reading activities that attracted a visitor count four times higher than usual, with a total of nearly 80,000 readers attending the "Shandong Book Fair"[137] Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 10,488, with 62 in the parent company and 10,426 in subsidiaries[176] - The company has a structured salary policy that aligns with social and economic performance, ensuring a balance of interests among employees, the company, and shareholders[177] - The company has established a multi-dimensional training system focusing on internal training to enhance professional skills and external training to broaden perspectives[178] Future Outlook - Future guidance suggests a revenue growth target of 10% for 2018, driven by new product launches and market expansion strategies[168] - The management highlighted a focus on expanding digital publishing services, aiming to increase digital revenue by 20% in the next fiscal year[168] - The company is exploring potential acquisitions to enhance its market presence, particularly in the educational publishing sector[168]