Financial Performance - In 2019, the company's operating revenue was approximately CNY 1.88 billion, a decrease of 1.09% compared to CNY 1.90 billion in 2018[22]. - The net profit attributable to shareholders of the listed company reached approximately CNY 161 million, an increase of 15.57% from CNY 139 million in 2018[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 140 million, reflecting a growth of 9.26% compared to CNY 128 million in 2018[22]. - The net cash flow from operating activities significantly increased by 115.40% to approximately CNY 309 million, compared to CNY 143 million in 2018[22]. - The gross profit margin for 2019 was 37.58%, an increase of 8.12 percentage points year-on-year, reflecting improved profitability[41]. - The company's total revenue for 2019 was CNY 1,882,346,953.45, a slight decrease of 1.09% compared to the previous year, while the gross profit margin increased by 8.12 percentage points to 37.58%[50]. - Digital reading platform revenue was CNY 1,583,827,579.94, down 5.55% year-on-year, but the gross profit margin improved by 7.47 percentage points to 35.33%[50]. - The company achieved a net profit of 161.00 million yuan, representing a year-on-year growth of 15.57%[41]. - The revenue from copyright products grew by 91.17% to CNY 261,644,938.25, with a gross profit margin of 51.98%[50]. - The total revenue for the year 2019 was approximately 270.49 million, a decrease of 3.18 million compared to the previous year, representing a decline of about 1.16%[132]. - The company reported a user base growth, with a total of 267.31 million users, indicating a slight decrease from the previous year[132]. - The company reported a total revenue of CNY 1,647,406,008.63 from sales of goods and services, down 5.1% from CNY 1,736,960,719.61 in 2018[187]. Dividends and Shareholder Returns - The company proposed a cash dividend of CNY 1.50 per 10 shares, based on a total share capital of 40.1 million shares as of December 31, 2019[6]. - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares for the year 2019, totaling 60,150,000 RMB, which represents 37.36% of the net profit attributable to ordinary shareholders[83]. - The cash dividend for 2018 was 1.10 RMB per 10 shares, amounting to 44,110,000 RMB, which accounted for 31.66% of the net profit attributable to ordinary shareholders[83]. - The company distributed dividends totaling CNY 44,110,000.00 in 2019, compared to CNY 13,634,000.00 in 2018, indicating a significant increase in shareholder returns[188]. Assets and Liabilities - Total assets grew by 20.12% to CNY 1,911,656,793.69 from CNY 1,591,391,803.09 in the previous year[24]. - The company's total liabilities increased to CNY 656,980,767.40 in 2019 from CNY 473,881,673.30 in 2018, representing a growth of about 38.6%[170]. - The total equity attributable to shareholders rose to CNY 1,240,683,659.45 in 2019, up from CNY 1,113,099,889.19 in 2018, indicating an increase of approximately 11.4%[171]. - Cash and cash equivalents reached CNY 1,198,923,537.70 in 2019, compared to CNY 1,031,575,880.67 in 2018, marking a growth of around 16.2%[169]. - The company's inventory stood at CNY 48,131,948.79 as of December 31, 2019, with no prior year data provided for comparison[169]. - The company's retained earnings increased to CNY 412,380,911.94 in 2019 from CNY 311,474,874.80 in 2018, showing a growth of approximately 32.4%[171]. Research and Development - Research and development expenses for 2019 were 120.07 million yuan, a 6.56% increase from the previous year, highlighting the company's commitment to innovation[41]. - The company has developed 212 patents and 116 software copyrights, showcasing its strong R&D capabilities[37]. - The company is committed to increasing its R&D investment to drive innovation in its product lines[133]. - Research and development expenses for 2019 were CNY 120,065,447.12, slightly up from CNY 112,679,245.69 in 2018, highlighting continued investment in innovation[177]. Market and User Engagement - The digital reading user base in China reached 740 million, growing by 1.4% year-on-year[33]. - The digital reading market size is projected to reach CNY 20.48 billion, with a year-on-year growth of 21%[33]. - The average monthly active users reached 140 million, indicating strong user engagement and retention on the digital reading platform[36]. - The company is focused on expanding its digital reading services and enhancing its hardware product offerings[22]. - The company aims to enhance its product offerings and is focusing on new technology development to improve user engagement and retention[133]. - The company plans to enhance user scale and traffic resources by deepening partnerships with major mobile manufacturers and internet platforms[69]. Risks and Challenges - The report includes a risk statement regarding future plans and development strategies, emphasizing the importance of investor awareness of investment risks[7]. - The company faces risks related to potential regulatory changes in the internet digital reading industry, which could impact its business operations[73]. - The company has identified risks related to increasing competition in the digital reading industry, which could impact its market position and operational performance[74]. - The company faces risks from copyright infringement in the digital content sector, which could adversely affect sales revenue due to the prevalence of piracy[75]. - There is a risk of losing core management and technical personnel due to intensified competition for talent in the industry[76]. - The company acknowledges the risk of insufficient business model innovation, which may hinder its ability to adapt to market changes and achieve performance targets[77]. Corporate Governance and Compliance - The company has maintained a standard unqualified audit opinion from the accounting firm Rongcheng[5]. - The company has not violated any decision-making procedures for providing guarantees[8]. - The company has committed to preventing non-operational fund occupation and ensuring compliance with relevant laws and regulations[93]. - The company emphasizes the importance of corporate governance and investor relations, ensuring shareholder rights and stable returns[113]. - The company has established a comprehensive internal control system in compliance with relevant laws and regulations, ensuring effective governance[143]. - The company actively engages in investor relations, ensuring timely and fair disclosure of information through designated media[144]. Social Responsibility - The company actively engaged in social responsibility by launching the "National Reading Cultural Dream" project, donating reading rooms and e-readers to impoverished areas[109]. - In 2019, the company established reading rooms in dozens of primary schools in Ganzi Prefecture, Sichuan, and donated reading materials[110]. - The company donated a total of 2 million yuan to hospitals in Hubei Province for COVID-19 prevention efforts[113]. - The company has trained over 100 disabled individuals in Hebei Province, helping many achieve employment[111]. - The company plans to continue its "National Reading Cultural Dream" project, ensuring ongoing support and updates for donated reading rooms over the next three years[112]. Shareholder Structure - The total share capital of the company is 401,000,000 shares, with 237,848,465 shares under limited sale conditions and 163,151,535 shares under unrestricted sale conditions[117]. - The number of shareholders at the end of the reporting period is 23,995, a decrease from 28,953 at the end of the previous month[119]. - The top shareholder, Zhang Lingyun, holds 121,973,572 shares, representing 30.42% of the total shares, all of which are under pledge[121]. - The second-largest shareholder, Cheng Xiangjun, owns 115,874,893 shares, accounting for 28.90% of the total shares, also under pledge[121]. - The company does not have a controlling shareholder situation, indicating a more distributed ownership structure[125]. Future Outlook - Future outlook includes plans for market expansion and potential mergers and acquisitions to strengthen its market position[133]. - The financial guidance for the next fiscal year indicates a cautious optimism with expectations of revenue stabilization[132]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[185].

Financial Performance - Net profit attributable to shareholders decreased by 5.92% to CNY 108,039,361.37[10] - Operating revenue for the first nine months decreased by 2.28% to CNY 1,386,496,470.70[10] - Basic and diluted earnings per share decreased by 6.90% to CNY 0.27[10] - Net profit for the first three quarters of 2019 reached CNY 101,647,465.98, down from CNY 113,829,660.93 in the same period of 2018, indicating a decline of 10.5%[43] - Net profit for Q3 2019 reached ¥50.09 million, significantly up from ¥20.43 million in Q3 2018, representing a growth of 144.5%[56] - The net profit attributable to shareholders of the parent company for Q3 2019 was ¥44.10 million, compared to ¥36.39 million in Q3 2018, an increase of 21.5%[49] Assets and Liabilities - Total assets increased by 7.06% year-on-year to CNY 1,703,757,401.25[10] - The total assets reached ¥1,703,757,401.25, up from ¥1,591,391,803.09, indicating overall growth[31] - Total assets as of September 30, 2019, amounted to CNY 1,583,843,515.05, an increase from CNY 1,487,716,751.51 at the end of 2018, representing a growth of 6.4%[37] - Current assets totaled CNY 1,228,483,908.50, slightly down from CNY 1,245,526,330.24 at the end of 2018, a decrease of 1.4%[35] - Non-current assets increased to CNY 355,359,606.55 from CNY 242,190,421.27, marking a significant growth of 46.8%[35] - The total liabilities amounted to 473,881,673.30 RMB, with no adjustments from the previous reporting period[74] Cash Flow - Cash flow from operating activities increased by 4.48% to CNY 111,586,685.76[10] - Net cash flow from operating activities for the first three quarters of 2019 was CNY 85,908,860.02, slightly up from CNY 84,754,587.35 in 2018, indicating stable operational performance[64] - Cash inflow from operating activities totaled CNY 1,272,664,800.38 in 2019, down from CNY 1,329,948,466.50 in 2018, reflecting a decrease of approximately 4.5%[64] - Cash outflow for purchasing goods and services was CNY 721,382,828.44 in 2019, compared to CNY 809,611,189.74 in 2018, showing a reduction of about 10.9%[64] - Cash inflow from investment activities reached CNY 1,365,545,510.00 in 2019, significantly higher than CNY 731,000,000.00 in 2018, marking an increase of approximately 86.9%[64] - The company reported a net cash decrease of CNY -221,738,445.70 in 2019, compared to CNY -86,467,115.30 in 2018, highlighting challenges in cash management[61] Shareholder Equity - The total equity attributable to shareholders increased to ¥1,187,763,182.34, compared to ¥1,113,099,889.19, reflecting a positive trend in shareholder value[31] - Shareholders' equity rose to CNY 1,118,401,049.03 from CNY 1,057,472,733.38, reflecting an increase of 5.8%[37] - The company has a total of RMB 369,535,586.42 in capital reserves, supporting its equity base[81] Expenses and Costs - Sales expenses rose to ¥330,005,830.01, reflecting a 52.20% increase primarily from higher promotional costs, advertising, and salaries[18] - Total operating costs for Q3 2019 were CNY 450,046,543.41, compared to CNY 450,749,911.91 in Q3 2018, showing a decrease of 0.2%[39] - Research and development expenses for Q3 2019 were ¥32.35 million, slightly down from ¥34.09 million in Q3 2018, reflecting a focus on efficiency[53] Government Support and Other Income - The company received government subsidies amounting to CNY 5,519,133.32 for the year-to-date[12] - Other income rose to ¥9,315,304.56, an 81.43% increase influenced by input tax policies[18] Investment Activities - Investment income surged to ¥31,130,181.85, marking a 184.57% increase due to the disposal of long-term equity investments and profit growth from joint ventures[18] - Cash flow from investing activities showed a net outflow of ¥328,913,104.31, a 72.43% increase attributed to higher net purchases of structured deposits[18] Market Strategy - The company plans to expand its market presence and invest in new product development to drive future growth[50]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2019, representing a year-on-year increase of 15%[19]. - Revenue for the first half of the year was CNY 899,624,258, a decrease of 4% compared to the same period last year[24]. - The company expects to achieve a revenue target of RMB 2.5 billion for the full year 2019, which would represent a growth of 18% year-on-year[19]. - Total operating revenue for the first half of 2019 was RMB 899,624,258, a decrease of 4.0% compared to RMB 937,151,854 in the same period of 2018[135]. - Operating profit for the first half of 2019 was RMB 58,413,880.54, down 25.2% from RMB 78,074,510.91 in the first half of 2018[135]. - Net profit for the first half of 2019 was RMB 58,014,737.87, a decrease of 29.9% compared to RMB 82,521,740.36 in the same period of 2018[135]. - The net profit attributable to shareholders was CNY 63,937,125, down 18.51% year-over-year[24]. - The net profit after deducting non-recurring gains and losses was CNY 46,091,711, a decline of 35.36% compared to the previous year[24]. - The company's net profit for the first half of 2019 was CNY 54,946,131.85, an increase from CNY 47,323,580.89 in the same period of 2018, representing a growth of approximately 16.5%[142]. - The total comprehensive income for the first half of 2019 was CNY 55,349,495.01, compared to CNY 78,044,511.78 in the same period of 2018, indicating a decrease of about 29.1%[144]. User Engagement and Market Position - User data indicated that the active user base reached 30 million, with a growth rate of 20% compared to the same period last year[19]. - The number of monthly active users exceeded 120 million, maintaining a leading position in the domestic digital reading market[33]. - Monthly active users on the reading platform exceeded 120 million, maintaining a leading position in the industry[42]. - The company has implemented a new marketing strategy that increased user engagement by 35%[19]. Research and Development - Research and development expenses increased by 30% to RMB 150 million, focusing on enhancing digital content delivery technologies[19]. - The company holds 149 patents and 94 software copyrights, reflecting its strong R&D capabilities[36]. - Research and development expenses increased to CNY 58,034,997.72 in the first half of 2019, compared to CNY 47,320,436.48 in the same period of 2018, reflecting a rise of approximately 22.5%[142]. Strategic Initiatives - New product launches included the latest e-reader model, which saw a 25% increase in sales compared to the previous model[19]. - The company is expanding its market presence in Southeast Asia, aiming for a 10% market share by the end of 2020[19]. - The company increased its investment in original content, acquiring a 17.74% stake in the original literature supplier "Hongshu Network" to enhance its competitive edge[42]. - The company established a film company to expand its copyright development efforts, aiming to create a commercial closed loop[43]. - The company launched a free reading service, which has rapidly accumulated a large user base, although it has led to increased promotional spending in the short term[43]. Financial Position and Assets - As of June 30, 2019, the total current assets amounted to ¥1,351,045,093.96, a decrease of 1.5% from ¥1,371,789,192.34 on December 31, 2018[125]. - The total assets as of June 30, 2019, were ¥1,670,900,780.22, compared to ¥1,591,391,803.09, indicating an increase of approximately 5%[127]. - The total liabilities as of June 30, 2019, were ¥524,208,898.85, up from ¥473,881,673.30, indicating an increase of approximately 10.6%[127]. - The total equity attributable to shareholders reached ¥1,134,493,544.46, an increase from ¥1,113,099,889.19, which is a growth of about 1.9%[127]. - The cash and cash equivalents stood at ¥1,082,659,365.73, up from ¥1,031,575,880.67, marking an increase of approximately 4.9%[125]. Risks and Challenges - The company faces risks from increasing competition in the digital reading industry, which could impact its market position and operational performance[57]. - There is a risk of insufficient innovation in the business model, which may hinder the company's ability to adapt to market changes and achieve performance targets[58]. - The company is at risk of losing key management and technical personnel due to intensified competition for talent in the industry[59]. - The prevalence of piracy in digital content poses a significant threat to the company's revenue from digital reading services[59]. - Regulatory changes in the digital reading industry could adversely affect the company's business operations and stability[59]. Shareholder Commitments and Governance - The controlling shareholders have committed to not transferring their shares for 36 months post-IPO, ensuring stability in shareholding[65]. - The company will ensure that any necessary related party transactions are conducted fairly and disclosed in accordance with regulations[71]. - The company has established a commitment to avoid any indirect control or management roles in competing entities during their tenure and for six months thereafter[71]. - The company will stabilize its stock price if it falls below the latest audited net asset value for 20 consecutive trading days, with measures including a share buyback plan requiring a two-thirds majority approval from shareholders[71]. Social Responsibility - The company actively engaged in social responsibility by launching the "National Reading Cultural Dream" public welfare project, donating reading rooms and e-readers to impoverished areas and minority regions[95]. - The company established love reading rooms in several primary schools in Ganzi Tibetan Autonomous Prefecture and Inner Mongolia, donating e-readers and books to promote reading habits[99]. - The company plans to continue its public welfare project, ensuring the reading rooms are equipped with necessary facilities and regularly updating the digital books available in the e-readers over the next three years[100].

Financial Performance - Net profit attributable to shareholders decreased by 13.28% to CNY 30,982,147.39 year-on-year[11] - Operating revenue declined by 3.64% to CNY 449,651,239.90 compared to the same period last year[11] - Basic earnings per share decreased by 11.11% to CNY 0.08[11] - Total operating revenue for Q1 2019 was approximately ¥449.65 million, a decrease of 3.1% from ¥466.62 million in Q1 2018[47] - Net profit for Q1 2019 was approximately ¥30.43 million, a decrease of 14.0% compared to ¥35.69 million in Q1 2018[50] - Total profit for Q1 2019 was approximately ¥31.25 million, down 17.7% from ¥38.06 million in Q1 2018[47] - The company reported a basic earnings per share of ¥0.00, with diluted earnings per share also at ¥0.00[58] Assets and Liabilities - Total assets increased by 5.61% to CNY 1,680,672,261.11 compared to the end of the previous year[11] - The total number of shareholders at the end of the reporting period was 21,412[14] - The company's total liabilities were ¥422,049,978.19, slightly decreased from ¥430,244,018.13 in the previous period[41] - Total assets as of March 31, 2019, amounted to ¥1,499,252,120.71, an increase from ¥1,487,716,751.51 as of December 31, 2018[41] - The total liabilities and shareholders' equity combined reached ¥1,499,252,120.71, consistent with the total assets reported[43] - Current liabilities were CNY 473,881,673.30, with no changes noted[79] - Total liabilities also stood at CNY 473,881,673.30, indicating stability in the company's financial obligations[79] Cash Flow - Net cash flow from operating activities surged by 1,146.01% to CNY 93,824,825.35 year-to-date[11] - Cash flow from operating activities generated a net amount of ¥93,824,825.35, significantly up from ¥7,530,040.28 in the previous year[62] - Cash inflow from operating activities totaled ¥573,912,062.90, compared to ¥478,387,882.50 in the same quarter last year, reflecting a growth of approximately 19.95%[62] - Cash outflow for operating activities was ¥480,087,237.55, slightly higher than ¥470,857,842.22 in the previous year[62] - Cash flow from investment activities showed a net outflow of ¥285,928,748.50, compared to a net outflow of ¥25,437,470.22 in the same quarter last year[64] Investments and Equity - Long-term equity investments increased by 71.64% to CNY 210,380,736.22 due to equity purchases and investment income[18] - Investment income increased significantly by 2223.47% to ¥6,310,350.19 from a loss of ¥297,171.52, driven by gains from the disposal of equity interests in associated companies[19] - Long-term equity investments rose to ¥269,888,749.22 from ¥172,178,399.03, showing a significant increase of approximately 56.8%[41] - Shareholders' equity totaled ¥1,077,202,142.52, up from ¥1,057,472,733.38 at the end of 2018, indicating a growth of approximately 1.2%[43] Expenses - R&D expenses rose by 39.09% to ¥30,408,565.16 from ¥21,862,006.48, mainly due to an increase in R&D personnel and corresponding salary expenses[19] - Sales expenses for Q1 2019 were approximately ¥76.44 million, an increase of 1.9% from ¥74.99 million in Q1 2018[47] - The company’s tax expenses decreased to approximately ¥823,463.58 in Q1 2019 from ¥2.37 million in Q1 2018[50] Shareholder Information - The top two shareholders, Zhang Lingyun and Cheng Xiangjun, collectively hold 59.32% of the company's shares[16] - The company established a hardware company named "Beijing Zhangshang Zhihui Technology Co., Ltd." and completed the sale of equity interests in subsidiaries[22] - The company is in the process of establishing a film and television company, with related transactions approved by the shareholders[22]

Financial Performance - The company's operating revenue for 2018 was CNY 1,903,150,733.54, representing a 14.17% increase compared to CNY 1,666,990,531.26 in 2017[32]. - The net profit attributable to shareholders for 2018 was CNY 139,315,572.60, a 12.62% increase from CNY 123,708,832.52 in 2017[32]. - The net profit after deducting non-recurring gains and losses for 2018 was CNY 128,454,364.75, up 15.06% from CNY 111,643,095.51 in 2017[32]. - The total assets at the end of 2018 were CNY 1,591,391,803.09, reflecting a 17.71% increase from CNY 1,352,008,505.88 at the end of 2017[32]. - The basic earnings per share for 2018 was CNY 0.35, a 6.06% increase from CNY 0.33 in 2017[32]. - The weighted average return on net assets for 2018 was 13.25%, a decrease of 1.73 percentage points from 14.98% in 2017[32]. - The company reported a gross margin of 29.46%, a decrease of 0.30 percentage points from the previous year[71]. - Digital reading revenue was CNY 1,655,997,953.45, with a gross margin of 27.21%, while hardware product revenue grew by 63.91% to CNY 88,318,364.37[71]. Cash Flow and Investments - The company generated a net cash flow from operating activities of CNY 143,359,745.32 in 2017, which decreased by 37.14% compared to CNY 228,070,579.21 in 2016[32]. - The net cash flow from operating activities decreased by 37.14%, reflecting the net impact of cash inflows and outflows[89]. - Investment cash inflow increased by 100%, mainly due to the recovery of structured deposits and cash inflow from equity transfers[89]. - Investment cash outflow increased by 19.53%, primarily due to purchases of fixed assets and equity investments[89]. - Net cash flow from investment activities increased by 116.08%, reflecting the net impact of cash inflows and outflows[89]. - Financing cash inflow decreased by 93.91%, as there were no related matters this year following last year's IPO[89]. - Financing cash outflow increased by 161.81%, mainly due to dividend distribution and cash outflow for purchasing minority equity[89]. - Net cash flow from financing activities decreased by 107.17%, reflecting the net impact of cash inflows and outflows[89]. Shareholder Information - The company plans to distribute a cash dividend of 1.10 RMB per 10 shares to all shareholders based on a total share capital of 40.1 million shares as of December 31, 2018[7]. - The total number of ordinary shares is 401,000,000, with 292,914,535 shares subject to restrictions and 108,085,465 freely tradable shares[188]. - The restricted shares decreased by 82,911,536 due to the lifting of restrictions on certain shareholders[189]. - The total number of ordinary shareholders increased from 21,412 to 23,381 during the reporting period[192]. - Zhang Lingyun and Cheng Xiangjun are acting in concert, holding a combined total of 237,848,465 shares, accounting for 59.32% of the company's equity[194]. - The top ten shareholders collectively hold 59.32% of the company's shares, indicating significant ownership concentration[194]. - Liu Weiping's shareholding decreased by 7,000,000 shares, now totaling 32,641,411 shares (8.14%), with 8,200,000 shares pledged[192]. Business Operations and Strategy - The company’s main business includes internet digital reading services and value-added services, focusing on digital content management and distribution[40]. - The revenue model includes digital reading services and value-added services, with income generated from virtual currency purchases on the "掌阅" app[43]. - The company plans to enhance user experience and maintain industry competitiveness through continuous investment and improvement in existing client products[106]. - The company aims to strengthen content investment and diversify literary works, focusing on multimedia reading, audio, comics, and film[107]. - The company will explore innovative business projects in 2019 to provide targeted and high-quality reading services[110]. - The company has committed to building a comprehensive digital reading platform that integrates content creation, distribution, and derivative development[105]. Risks and Compliance - The company emphasizes that future plans and development strategies mentioned in the report do not constitute a substantive commitment to investors, highlighting investment risks[8]. - The digital reading industry faces increasing competition, with many large internet companies entering the market, posing risks to the company's market position[111]. - The company has identified risks related to insufficient innovation in business models and potential loss of core management and technical personnel[112][113]. - The company has committed to preventing non-operational fund occupation and ensuring compliance with relevant laws and regulations[148]. - The company has not reported any significant accounting errors or changes in accounting policies during the reporting period[152]. Social Responsibility and Public Welfare - The company plans to donate reading rooms and e-readers to impoverished areas as part of its "National Reading Cultural Dream" public welfare project, celebrating its 10th anniversary[176]. - The company donated electronic reading devices, e-books, and educational materials to 10 primary schools in Inner Mongolia, benefiting 3,027 students[178]. - The company actively participates in social welfare activities and complies with legal regulations to protect the rights of stakeholders[182]. - The company has established partnerships with authoritative publishing institutions to enhance its public welfare initiatives[179]. - The company has a commitment to regularly assess the impact of its donations and ensure the quality of content available to beneficiaries[181]. Audit and Compliance - The company reported a standard unqualified audit opinion from Ruihua Certified Public Accountants[6]. - The company has engaged Ruihua Certified Public Accountants for auditing services, with a remuneration of 120,000 RMB for the year[151]. - The company has not faced any risks of suspension or termination of its listing during the reporting period[154]. - The company has not disclosed any major litigation or arbitration matters other than the aforementioned copyright case[158].

掌阅科技股份有限公司 2018 年第三季度报告 一、 重要提示 二、 公司基本情况 掌阅科技股份有限公司 2018 年第三季度报告 公司代码：603533 公司简称：掌阅科技 掌阅科技股份有限公司 2018 年第三季度报告 2018 年 10 月 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 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 | | | | | | | | 末增减(%) | | | 总资产 | 1,568,558,844.42 | | 1,352,008,505.88 | | | 16.02 | | 归属于上市公司 | 1,089,915,001.43 | | 987,614,495.31 | | | 10.36 | | 股东的净资产 | | | | | | | | | 年初至报告期末 | | ...

Financial Performance - The company's operating revenue for the first half of 2018 was approximately RMB 937.15 million, representing an increase of 18.20% compared to RMB 792.85 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company was approximately RMB 78.46 million, up 15.33% from RMB 68.03 million in the previous year[21]. - The basic earnings per share for the first half of 2018 was RMB 0.20, a 5.26% increase from RMB 0.19 in the same period last year[22]. - The company reported a net profit margin improvement, with retained earnings increasing to CNY 261,533,868.88 from CNY 196,710,734.72, a rise of about 32.9%[90]. - The company reported a total profit of ¥82,521,740.36, up from ¥78,683,755.00 in the previous period[97]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 12.42% to RMB 125.26 million, down from RMB 143.03 million in the same period last year[21]. - The company reported a net cash outflow from financing activities of ¥16,275,509.43, compared to an inflow of ¥525,000.00 in the previous period[109]. - The cash flow from operating activities totaled ¥1,018,800,545.88, compared to ¥880,356,064.80 in the previous period, reflecting an increase of approximately 15.8%[103]. - Cash and cash equivalents at the end of the period were CNY 916,197,679.07, down from CNY 940,324,973.24, a decrease of about 2.9%[92]. Assets and Liabilities - The total assets of the company at the end of the reporting period were approximately RMB 1.52 billion, an increase of 12.68% compared to RMB 1.35 billion at the end of the previous year[21]. - Total liabilities amounted to CNY 462,721,585.05, compared to CNY 363,779,857.79, which is an increase of about 27.3%[90]. - Owner's equity reached CNY 1,060,782,016.87, up from CNY 988,228,648.09, reflecting a growth of approximately 7.3%[90]. - The total liabilities to equity ratio improved to 0.44 from 0.37, indicating a stronger equity position relative to liabilities[90]. Market and User Engagement - The average monthly active users of the company's digital reading platform "Zhangyue" APP reached approximately 110 million, maintaining a leading position in the industry[34]. - As of June 2018, the number of online literature users reached 406 million, an increase of 28.2 million from the end of the previous year, accounting for 50.6% of the total internet users[27]. - The company is focusing on expanding its market presence and enhancing user service levels through continuous product optimization[34]. Research and Development - The company holds 49 patents and 75 software copyrights, reflecting its strong emphasis on research and development[31]. - Research and development expenses rose by 59.67% to CNY 53.82 million, mainly due to an increase in the number of R&D personnel and salary expenses[39]. - The company plans to increase R&D investment and technological innovation to support business innovation[55]. Risks and Challenges - The digital reading industry is facing increasing competition, which may impact the company's market position and operational performance if not addressed effectively[47]. - There is a risk of insufficient business model innovation, which could hinder the company's ability to meet performance targets and affect its market competitiveness[47]. - Digital content piracy poses a significant threat, potentially affecting the company's sales revenue and overall performance[48]. Shareholder and Governance - The company has not proposed any profit distribution or capital reserve transfer plans for the current period[50]. - There are commitments from major shareholders regarding the management and transfer of their shares to ensure stability[51]. - The company emphasizes the importance of maintaining shareholder rights and improving future return capabilities[55]. Corporate Social Responsibility - The company has initiated a public welfare project "National Reading, Cultural Dream Building" to donate reading rooms to impoverished areas, aiming to promote reading habits among youth[68]. - The project plans to donate electronic reading devices and books to 11 selected impoverished schools in Hebei Province, enhancing access to quality reading materials[70]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern and comply with relevant accounting standards[126]. - The company follows specific accounting policies for revenue recognition based on its operational characteristics[127]. - The company recognizes financial assets and liabilities at fair value upon initial recognition, with transaction costs directly expensed for those measured at fair value through profit or loss[145].

Financial Performance - Operating revenue rose by 23.25% to CNY 466,618,513.99 year-on-year[8] - Net profit attributable to shareholders increased slightly by 0.11% to CNY 35,727,263.58[8] - The net profit after deducting non-recurring gains and losses decreased by 9.30% to CNY 30,748,232.02[8] - Net profit for Q1 2018 reached CNY 35.69 million, slightly up from CNY 35.69 million in Q1 2017, indicating stable profitability[32] - The net profit attributable to the parent company increased to ¥232,437,998.30 from ¥196,710,734.72, indicating improved profitability[23] Assets and Liabilities - Total assets increased by 6.58% to CNY 1,440,925,656.26 compared to the end of the previous year[8] - Total assets as of the end of Q1 2018 amounted to CNY 1,406.50 million, an increase from CNY 1,327.96 million at the end of Q1 2017[29] - Total liabilities for Q1 2018 were CNY 425.71 million, compared to CNY 366.03 million in Q1 2017, representing an increase of 16.3%[28] - Fixed assets increased by 35.67% to ¥29,115,681.77 due to new server procurement[15] Cash Flow - Net cash flow from operating activities decreased significantly by 64.84% to CNY 7,530,040.28[8] - The net cash flow from operating activities was ¥7.53 million, a decrease from ¥21.42 million in the previous year, indicating a decline of approximately 64.9%[41] - The total cash inflow from operating activities was ¥478.39 million, while the total cash outflow was ¥470.86 million, resulting in a slight positive cash flow from operations[41] - The company reported a net cash outflow from investing activities of ¥25.44 million, compared to a net outflow of ¥7.04 million in the same period last year, indicating an increase in investment expenditures[42] Shareholder Information - The total number of shareholders reached 31,601 at the end of the reporting period[13] - The top two shareholders, Zhang Lingyun and Cheng Xiangjun, collectively hold 59.32% of the company's shares[14] Expenses - Sales expenses increased by 52.42% to ¥74,993,432.41 mainly due to higher promotion and brand advertising costs[16] - The company’s sales expenses rose to CNY 74.99 million in Q1 2018, up 52.4% from CNY 49.20 million in Q1 2017[31] - Income tax expenses decreased by 57.19% to ¥2,372,645.62 due to tax benefits enjoyed by subsidiaries[16] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[30] - The company is focusing on expanding its market presence and investing in new technologies, although specific details on new products or technologies were not provided in the report[39]

Financial Performance - The company's operating revenue for 2017 was approximately ¥1.67 billion, representing a year-over-year increase of 39.19% compared to ¥1.20 billion in 2016[22]. - Net profit attributable to shareholders for 2017 was approximately ¥123.71 million, a 60.22% increase from ¥77.21 million in 2016[22]. - The basic earnings per share for 2017 was ¥0.33, up 57.14% from ¥0.21 in 2016[23]. - The weighted average return on equity increased to 14.98% in 2017, up from 11.16% in 2016, reflecting a 3.82 percentage point increase[23]. - The net cash flow from operating activities for 2017 was approximately ¥228.07 million, a 41.08% increase from ¥161.66 million in 2016[22]. - The total assets at the end of 2017 were approximately ¥1.35 billion, a 38.87% increase from ¥973.60 million at the end of 2016[22]. - The company's total revenue for the year was ¥1,666,990,531.26, marking a 29.76% increase from the previous year[57]. - The company reported a net profit margin of 3.60% for the period ending December 8, 2017, with a total revenue of 34.52 million[127]. - The company has shown consistent revenue growth across multiple quarters, indicating a positive trend in financial performance[130]. Market and Industry Insights - The digital reading industry in China reached a market size of ¥15.2 billion in 2017, growing by 26.7% year-over-year[35]. - The number of online literature users in China reached 378 million by the end of 2017, an increase of 44.55 million from the previous year[35]. - The average amount users are willing to pay for a single e-book rose to ¥13.6, a 52.8% increase from ¥8.9 in 2016[80]. - The digital reading market in China reached ¥15.2 billion in 2017, growing by 26.7%, with the top three companies accounting for 70% of the market[79]. - The number of digital reading users in China reached 378 million, marking a 13.37% year-on-year increase[79]. Research and Development - The company’s R&D expenditure increased to CNY 79,942,765, marking a growth of 38.83% compared to the previous year[52]. - The company holds 20 patents and 74 software copyrights, showcasing its commitment to R&D and technological innovation[42]. - The company plans to enhance fundraising management by establishing a dedicated account for raised funds and will regularly check the usage of these funds to ensure legal and reasonable use[101]. - The company will increase R&D investment and technological innovation to strengthen its core mobile reading technology and improve operational system stability[101]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of 0.34 RMB per 10 shares based on a total share capital of 40.1 million shares as of December 31, 2017[6]. - The company reported a cash dividend of 0.34 RMB per 10 shares for the 2017 fiscal year, with a payout ratio of 11.02% of the net profit attributable to ordinary shareholders[96]. - The company has committed to a proactive profit distribution policy to ensure reasonable and stable returns for investors[101]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, with a maximum annual transfer limit of 25% of total shares held[97]. Corporate Governance and Compliance - The company received a standard unqualified audit report from Ruihua Certified Public Accountants[5]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[9]. - The company has established a commitment from its directors and senior management to avoid unfair benefit transfers and to link compensation systems to the execution of return measures[102]. - The company strictly adhered to information disclosure obligations, ensuring timely and accurate communication with stakeholders[187]. - The company has not reported any significant internal control deficiencies during the reporting period[194]. Risks and Challenges - The company faces risks from increasing competition in the digital reading industry, which could impact its market position and operational performance if not effectively managed[86]. - There is a risk of insufficient business model innovation, which may hinder the company's ability to adapt to market changes and achieve expected performance targets[87]. - The company is exposed to copyright infringement risks, which could adversely affect its sales revenue and operational performance due to the prevalence of digital piracy[90]. - Regulatory changes in the internet digital reading industry may impact the company's business operations and stability if it cannot adapt to new policies[91]. Employee and Workforce Information - The total number of employees in the parent company and major subsidiaries is 569, with 528 in the parent company and 41 in subsidiaries[175]. - The company has a total of 266 technical personnel, representing approximately 46.7% of the workforce[175]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to CNY 8.2719 million[170]. - The company maintains a competitive salary system based on market conditions, job roles, capabilities, and performance[176]. Share Buyback and Stock Management - The company plans to repurchase shares with a maximum amount not exceeding 20% of the available cash on hand, excluding funds raised from the initial public offering[103]. - The company has committed to buy back shares to stabilize stock prices, with purchases not exceeding 2% of total shares in a single fiscal year[106]. - The company executed another buyback of 25,000 million RMB from May 22, 2017, to June 26, 2017, achieving an annualized return rate of 3.00%[125]. - A final buyback of 30,000 million RMB was executed from November 3, 2017, to December 25, 2017, with an annualized return rate of 3.60%[125].

Financial Performance - Operating revenue for the first nine months reached CNY 1,229,633,642.11, a 48.45% increase year-on-year[5] - Net profit attributable to shareholders increased by 104.46% to CNY 97,401,029.33 compared to the same period last year[5] - Net profit for the first nine months of 2017 was ¥155,151,296.03, compared to ¥88,700,273.43 in the same period last year, reflecting a growth of 75%[20] - The net profit attributable to shareholders of the parent company for Q3 2017 was ¥29,374,129.59, compared to ¥27,119,897.83 in Q3 2016, reflecting an increase of 8.3%[24] - The total comprehensive income for Q3 2017 was ¥29,240,216.86, up from ¥27,119,897.83 in Q3 2016, representing a growth of 7.8%[24] Assets and Liabilities - Total assets increased by 35.93% to CNY 1,323,391,016.06 compared to the end of the previous year[5] - The total assets as of September 30, 2017, amounted to RMB 1,323,391,016.06, up from RMB 973,604,736.59 at the beginning of the year[15] - Current liabilities totaled ¥374,835,513.60, up from ¥229,927,785.38 at the beginning of the year, indicating a significant increase in short-term obligations[19] - The company's equity attributable to shareholders reached ¥937,020,690.78, compared to ¥737,240,468.18 at the beginning of the year, showing a growth of 27.1%[20] Cash Flow - Net cash flow from operating activities surged by 165.58% to CNY 190,474,289.82 for the first nine months[5] - The cash inflow from operating activities for the year-to-date period reached ¥1,320,805,076.52, a significant increase of 51.6% compared to ¥870,163,441.35 in the same period last year[31] - The net cash flow from operating activities was ¥190,474,289.82, up 165.5% from ¥71,720,747.11 year-on-year[31] - The cash and cash equivalents at the end of the period totaled ¥824,564,973.60, compared to ¥291,520,748.50 at the end of the same period last year, reflecting a substantial increase[32] Shareholder Information - The total number of shareholders reached 42,076 by the end of the reporting period[9] - The top three shareholders hold a combined 69.21% of the shares, with Zhang Lingyun holding 30.42%[9] Operating Costs and Profitability - Total operating costs for Q3 2017 were ¥408,724,191.68, up 31.7% from ¥309,972,498.54 in Q3 2016[22] - The gross profit margin for Q3 2017 was approximately 24.1%, compared to 33.7% in Q3 2016, indicating a decrease in profitability[27] - The company reported a gross profit margin of approximately 29.5% for the first nine months of 2017, compared to 32.4% in the same period last year[22] Other Financial Metrics - Basic and diluted earnings per share both rose by 107.69% to CNY 0.27[6] - The weighted average return on net assets increased by 5.47 percentage points to 12.50%[6] - The company reported a financial expense of RMB -14,205,909.79, a 77.72% increase due to higher interest income[11]