北京市朝阳区建外大街丁 12 号英皇集团中心 8 层 8/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R. China 电话/Tel.:010-50867666 传真/Fax:010-56916450 网址/Website:www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 北京市康达律师事务所 关于横店影视股份有限公司 2023 年年度股东大会的法律意见书 康达股会字【2024】第 0105 号 致：横店影视股份有限公司 北京市康达律师事务所（以下简称"本所"）接受横店影视股份有限公司（以下简 称"公司"）的委托，指派本所律师参加公司 2023 年年度股东大会（以下简称"本次会 议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人 民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》（以下简 称"《股东 ...

证券代码：603103 证券简称：横店影视 公告编号：2024-016 横店影视股份有限公司 关于 2023 年度业绩说明会召开情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 横店影视股份有限公司（以下简称"公司"）于 2024 年 3 月 26 日 15:00- 16:00 在上海证券交易所上证路演中心（http://roadshow.sseinfo.com/），以网 络文字互动方式召开了 2023 年度业绩说明会，现就有关情况公告如下： 一、本次说明会召开情况 关于本次说明会的召开事项，公司已于 2024 年 3 月 19 日在上海证券交易所 网站（www.sse.com.cn）、上海证券报及证券日报上披露了《关于召开 2023 年度 业绩说明会的公告》（公告编号：2024-015）。 2024 年 3 月 26 日 15:00-16:00，公司在上海证券交易所上证路演中心 （http://roadshow.sseinfo.com/）召开 2023 年度业绩说明会，公司总经理张 义兵先生，董事会秘书、财务 ...

横店影视股份有限公司 关于召开 2023 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 03 月 19 日(星期二) 至 03 月 25 日(星期一)16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 hdys@hengdian.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 横店影视股份有限公司（以下简称"公司"）已于 2024 年 3 月 8 日发布公司 2023 年年度报告，为便于广大投资者更全面深入地了解公司 2023 年度经营成果、 财务状况，公司计划于 2024 年 03 月 26 日 15:00-16:00 举行 2023 年度业绩说明 会，就投资者关心的问题进行交流。 证券代码：603103 证券简称：横店影视 公告编号：2024-015 三、 参加人员 一、 说明会类型 本次投资者说明会 ...

2024 年 03 月 11 日 公司研究 评级：买入(维持) ——横店影视（603103）2023 年年报点评 事件: 投资要点: （1）公司 2023 年营收 23.5 亿元，YOY+64.6%，较 2021 年增长 2.9%； 归母净利 1.66 亿元，YOY+152.25%，较 2021 年增长 1113.2%；扣 非归母净利 0.74 亿元（2022 年-4.4 亿元），较 2021 年增长 265.6%； 非经常性损益 9203 万元，其中政府补助 2517 万元、应收款项减值 准备转回 1219 万元。2023 年毛利率 14.0%，较 2021 年提升 1.2pct （2019 年 20.65%）；期间费用率 7.99%，较 2021 年下降 2.34pct； 净利率 7.06%（2019 年 11%）。2023 年公司经营现金流净额 7.46 亿元（YOY+138.7%，较 2019 年/2021 年增长 28.5%/14.3%）。 （2）2023Q4 营收 3.96 亿元（YOY+96.6%，QOQ-49.4%），归母净利 -0.7 亿元（YOY+66.8%，QOQ-156.9%），扣非归 ...

Revenue and Financial Performance - In 2023, the company's cinema line revenue reached 2.199 billion RMB, a year-on-year increase of 73.70%[21] - In 2023, the company achieved operating revenue of RMB 2.35 billion, a year-on-year increase of 64.62%[61] - The net profit attributable to the parent company was RMB 166 million, with basic earnings per share of RMB 0.26[61] - The company reported a net cash flow from operating activities of RMB 746 million, an increase of 138.73% compared to the previous year[62] - The total assets at the end of 2023 were RMB 4.47 billion, a decrease of 1.23% year-on-year[61] - The company’s net assets attributable to shareholders increased by 14.12% year-on-year, reaching RMB 1.33 billion[61] - The self-operated cinema box office revenue reached RMB 1.80 billion, an increase of 81.96% year-on-year[49] - The revenue from the Douyin channel increased by 260.17% compared to the previous year[49] - Operating costs amounted to 2.02 billion yuan, reflecting a year-on-year growth of 28.76%[63] - The gross profit margin for the film industry increased by 24.32 percentage points to 11.43%[65] Cinema Operations and Expansion - The company opened 23 new cinemas and added 149 screens in 2023, while closing 6 cinemas and reducing 33 screens[21] - The company has a total of 514 operating cinemas with 3,225 screens as of the end of 2023, including 432 asset-linked cinemas[21] - The company has established a standardized management system for cinema operations, ensuring consistent quality across its locations[34] - The company has a strategic focus on expanding in lower-tier cities, which account for 70% of its cinema projects[32] - The company plans to expand its cinema layout in second-tier cities while also targeting fast-growing third to fifth-tier cities[58] - The company plans to accelerate project expansion and cinema franchising, focusing on high-potential cities in the central and western regions[180] Film Production and Market Trends - The company produced and released 19 films in 2023, with "The Wandering Earth 2" and "Boonie Bears: Back to Earth" ranking among the top 10 box office films nationwide[20] - The company produced 792 story films in 2023, with a total film output of 971 films[52] - The total box office for the 2023 film season reached 356.1 billion RMB, accounting for 64.8% of the total box office, with holiday box office contributing 23.3% and non-holiday box office 41.5%[96] - The box office for domestic films reached 46.005 billion yuan, contributing 83.77% of the total box office revenue[77] - In 2023, 509 new films were released nationwide, with only 2 domestic films exceeding 4 billion yuan in box office revenue, highlighting a significant risk due to the lack of quality films[185] Customer Engagement and Marketing Strategies - The company emphasizes customer-centric service improvements and has established a feedback mechanism to enhance customer experience[25] - The company plans to expand its non-ticket revenue streams through diversified collaborations and seasonal product offerings[23] - The company plans to expand its market presence, focusing on new marketing strategies and audience engagement to drive box office growth[81] - The company plans to enhance its membership system and innovate marketing activities to increase member channel share and improve management efficiency[175] Corporate Governance and Management - The company held 7 board meetings during the reporting period, all conducted in accordance with regulatory procedures[127] - The company has a clear management structure, with senior management responsible for implementing the annual business plan and investment proposals[139] - The company has maintained transparency in information disclosure, ensuring all shareholders receive timely updates[140] - The company has a proactive approach to corporate governance, ensuring compliance with regulations and maintaining transparency in its operations and decision-making processes[158] - The board discussed the remuneration plans for directors and supervisors for the year 2023, aiming to align incentives with company performance[162] Challenges and Risks - The company acknowledges the increasing competition in the cinema market, with a rapid growth in the number of cinemas leading to potential rises in commercial real estate rents and personnel costs[154] - The rise of new media platforms poses a challenge to traditional cinema, as online viewing options become more popular, potentially impacting audience habits and company performance[157] - The company acknowledges the risk of stricter industry regulations impacting its operational performance and future prospects[187] - The market contribution of box office revenue for 2023 decreased by 4.7 percentage points compared to the same period in 2022, indicating a reduced reliance on specific release periods[124] Future Outlook and Strategic Initiatives - The company aims to strengthen the synergy between content production and distribution, focusing on enhancing the value realization of film projects[132] - Future outlook includes expansion into new markets and potential mergers and acquisitions to enhance growth opportunities[162] - The company is focusing on the development of new products and technologies to stay competitive in the industry[162] - The company is committed to balancing stakeholder interests while pursuing sustainable and stable growth[160] - The company is committed to enhancing its brand image and product quality in its beverage business, aiming to establish a strong national presence[179]

Financial Performance - The company's operating revenue for 2023 reached RMB 2,348,923,823.52, representing a 64.62% increase compared to RMB 1,426,842,534.72 in 2022[22] - The net profit attributable to shareholders of the listed company was RMB 165,853,775.04, a significant recovery from a loss of RMB 317,429,302.45 in the previous year[22] - The net cash flow from operating activities increased by 138.73% to RMB 745,921,428.23, up from RMB 312,455,879.45 in 2022[22] - Basic earnings per share for 2023 reached CNY 0.26, a significant improvement from a loss of CNY 0.50 in 2022[23] - The weighted average return on equity improved to 13.19% in 2023, up from -23.81% in 2022, reflecting a substantial increase in net profit[23] - The weighted average return on equity after deducting non-recurring gains reached 5.87% in 2023, a significant recovery from -33.05% in 2022[23] - The company achieved a net profit of CNY 149,348,209.79 in Q1 2023, contrasting with a loss of CNY 36,487,872.60 in Q2 2023[25] Assets and Liabilities - The total assets of the company as of the end of 2023 were RMB 4,464,894,121.58, a slight decrease of 1.23% from RMB 4,520,335,063.62 at the end of 2022[22] - The net assets attributable to shareholders of the listed company increased by 14.12% to RMB 1,340,161,853.27, compared to RMB 1,174,308,078.23 at the end of 2022[22] - The total liabilities of the company decreased to ¥3,124,732,268.31 from ¥3,346,026,985.39, a reduction of approximately 6.6%[199] - The total non-current assets decreased to ¥2,909,013,310.34 from ¥3,281,706,483.50, indicating a decline of about 11.3%[199] Cinema Operations - The company released 19 films in 2023, with notable titles like "The Wandering Earth 2" and "Boonie Bears: Back to Earth" ranking in the top 10 for annual box office[31] - The company's box office revenue reached 2.085 billion yuan in 2023, a year-on-year increase of 81.30%, with asset-linked cinemas contributing 1.805 billion yuan, up 81.96%[34] - The total number of operating cinemas reached 514 by the end of 2023, with 3,225 screens, including 432 asset-linked cinemas and 2,757 screens[34] - The company opened 23 new cinemas in 2023, adding 149 screens, while closing 6 cinemas, resulting in a net increase in operational capacity[34] - The cinema chain's revenue from the screening segment was 2.199 billion yuan, reflecting a 73.70% increase year-on-year[34] Market and Industry Trends - The total box office for the Chinese film market in 2023 was approximately 54.915 billion yuan, a year-on-year growth of 82.64%[40] - The number of films produced in 2023 reached 792, with a total of 971 films produced overall[40] - Domestic films accounted for 83.69% of the total number of films released, contributing 83.77% to the total box office, with 426 domestic films earning 46.005 billion yuan[62] - The average ticket price in 2023 was 42.3 yuan, an increase of 0.2 yuan compared to the previous year[68] - The market share of the top five cinema chains accounted for 67.81% of the total box office, with a combined revenue of 37.229 billion yuan[68] Strategic Initiatives - The company plans to continue leveraging its industry expertise and resources to enhance content quality and market presence in the coming years[31] - The company is exploring new business models by integrating film and tourism, aiming to enhance customer experience and drive revenue growth[36] - The company is focused on accelerating project expansion and cinema franchising, particularly in high-potential regions, to strengthen its market position[76] - The company aims to strengthen its membership system and innovate marketing activities to increase member engagement and enhance brand influence[73] Governance and Compliance - The company has established a dedicated internal audit department to strengthen compliance and operational oversight[88] - The company emphasized transparency and timely information disclosure to ensure all shareholders receive relevant information fairly[88] - The company has not encountered significant differences in governance compared to regulations set by the China Securities Regulatory Commission[88] - The company has implemented cash management for its idle funds as part of its financial strategy[92] Shareholder and Financial Policies - The company plans to prioritize cash dividends in its profit distribution policy, ensuring that cash dividends are not less than 10% of the distributable profit for the year[126] - The board proposed no profit distribution for 2023, with a net profit attributable to shareholders of RMB 165,853,775.04 and accumulated undistributed profits of -RMB 10,180,676.27[128] - The company has established a structured decision-making process for profit distribution, requiring a majority vote from the board and two-thirds approval from shareholders[128] Risk Management - The company acknowledges the risk of not achieving expected returns on film investments due to market uncertainties and competition[80] - The company recognizes the potential impact of public health emergencies on its operations, which could lead to temporary closures of cinemas[81] - The company has committed to measures to mitigate the risk of diluted immediate returns, including restrictions on personal consumption and linking compensation to the execution of these measures[151] Employee and Talent Management - The company has implemented a talent management system to attract and retain skilled professionals, ensuring a stable development trajectory[77] - The company’s training programs will include both internal and external training to improve employee skills and management capabilities[123] - The total number of employees at the parent company and major subsidiaries is 5,057, with 4,897 employees in major subsidiaries[119] Audit and Financial Reporting - The audit report confirms that the financial statements fairly reflect the financial position and operating results of Hengdian Film and Television for the year ended December 31, 2023[186] - The audit identified key matters such as revenue recognition and the adequacy of bad debt provisions as critical audit issues[188] - The management is responsible for assessing the company's ability to continue as a going concern and disclosing relevant matters[192]

Investment Rating - The report maintains a "Buy" investment rating for the company [8] Core Views - The company is expected to see a recovery in the film market in 2024, with strong demand for content continuing [5][16] - The company achieved a revenue of 2.349 billion yuan in 2023, representing a year-on-year increase of 64.6%, driven by the recovery of the national box office [17] - The company is actively exploring new business models, including "Cinema+" and enhancing its content production capabilities, which are expected to contribute positively to revenue growth [8][35] Summary by Sections Financial Performance - In 2023, the company's box office revenue reached 2.085 billion yuan, up 81% year-on-year, with a market share of 3.62% in the film investment industry [6][16] - The company reported a net profit of 166 million yuan in 2023, marking a significant turnaround from losses in previous years [17] - The projected revenues for 2024, 2025, and 2026 are 2.740 billion yuan, 3.100 billion yuan, and 3.400 billion yuan, respectively, with corresponding net profits of 314 million yuan, 402 million yuan, and 483 million yuan [9][21] Market Outlook - The film market is expected to see new growth in 2024, supported by a robust pipeline of quality films and a recovery in audience demand [8][16] - The company is focusing on expanding its cinema layout across various city tiers, enhancing its competitive edge in the market [35] Strategic Initiatives - The company is exploring cultural tourism integration and unique marketing activities to enhance audience engagement and drive revenue [35] - The partnership with IMAX highlights the company's commitment to improving the cinema experience and capitalizing on market opportunities [18]

证券代码：603103 证券简称：横店影视 公告编号：2024-007 横店影视股份有限公司 第三届董事会第十六次会议决议公告 本议案已经公司第三届董事会审计委员会第十一次会议审议通过。审计委员 会认为：公司《2023年年度报告》及摘要能够充分反映公司的财务状况以及经营 成果和现金流量，编制和审核程序也符合中国证监会和上海证券交易所的规定， 委员会同意将此报告提交公司董事会审议。 具体内容详见公司同日于上海证券交易所网站、《上海证券报》及《证券日 报》披露的《横店影视股份有限公司2023年年度报告》（全文及摘要）。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 横店影视股份有限公司（以下简称"公司"）第三届董事会第十六次会议（以 下简称"本次会议"）于 2024 年 2 月 23 日以书面、电话、邮件等方式通知全体 董事，并于 2024 年 3 月 6 日在公司三楼会议室以现场方式召开，会议由董事长 徐天福先生主持。本次会议应出席董事 7 名，实际出席董事 7 名，公司全体监事 和高级管理人员列席了会 ...

横店影视股份有限公司 二〇二 三 年 度 内部控制审计报告 会计师事务所(特殊普通合 内部控制审计报告 信会师报字[2024]第 ZC10148 号 横店影视股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求,我们审计了横店影视股份有限公司(以下简称横店影视)2023 年 12月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企 业内部控制评价指引》的规定,建立健全和有效实施内部控制,并评 价其有效性是横店影视董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的 有效性发表审计意见,并对注意到的非财务报告内部控制的重大缺陷 进行披露。 三、内部控制的固有局限性 四、财务报告内部控制审计意见 我们认为,横店影视于 2023年 12月 31 日按照《企业内部控制基 本规范》和相关规定在所有重大方面保持了有效的财务报告内部控制。 信会师报字[2024]第 ZC10148 号 横店影视股份有限公司 2023 年度内部控制审计报告 第 1 页 此码用于证明该审计报告 ...

2024 年 3 月 6 日 经核查独立董事朱燕建、赵刚、姚明龙、蒋岳祥、张爱珠的任职经历以及签 署的相关自查文件，上述人员未在公司担任除独立董事以外的任何职务,也未在 公司主要股东公司担任任何职务，与公司以及主要股东之间不存在利害关系或其 他可能妨碍其进行独立客观判断的关系，因此，公司独立董事符合《上市公司独 立董事管理办法》《上海证券交易所上市公司自律监管指引第 1 号——规范运 作》中的相关要求，持续保持独立性，在 2023 年度不存在影响独立性的情形。 横店影视股份有限公司董事会 横店影视股份有限公司董事会 关于 2023 年度独立董事独立性自查情况的专项意见 根据证监会《上市公司独立董事管理办法》《上海证券交易所股票上市规则》 《上海证券交易所上市公司自律监管指引第 1 号——规范运作》等要求，横店影 视股份有限公司(以下简称"公司")董事会，就公司独立董事朱燕建、赵刚、姚 明龙、蒋岳祥、张爱珠出具的独立性自查情况进行评估并出具如下专项意见： ...