欢瑞世纪联合股份有限公司 2022 年第三季度报告 证券代码：000892 证券简称：欢瑞世纪 公告编号：2022-63 欢瑞世纪联合股份有限公司 2022 年第三季度报告 3.第三季度报告是否经过审计 □是 否 1 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 欢瑞世纪联合股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 453,481,853.86 | 13.72% | 81 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥358,562,665.47, representing a 481.64% increase compared to ¥61,646,354.78 in the same period last year[20]. - Net profit attributable to shareholders for the reporting period was ¥29,660,673.60, up 161.31% from ¥11,350,800.42 year-on-year[20]. - The net profit after deducting non-recurring gains and losses reached ¥75,944,473.37, a significant increase of 672.47% compared to ¥9,831,324.38 in the previous year[20]. - The net cash flow from operating activities was ¥66,102,774.69, a turnaround from a negative cash flow of -¥55,814,261.26 in the same period last year, marking a 218.43% improvement[20]. - Basic earnings per share increased to ¥0.0306, reflecting a growth of 163.79% from ¥0.0116 in the previous year[20]. - Total assets at the end of the reporting period were ¥2,544,941,982.26, a 7.05% increase from ¥2,377,434,371.93 at the end of the previous year[20]. - The company achieved operating revenue of CNY 358,562,665.47, an increase of 481.64% year-on-year[27]. - Operating profit reached CNY 52,735,476.53, up 442.15% compared to the same period last year[27]. - The company reported a net loss of CNY 578,920,387.21 for the first half of 2022, an improvement from a loss of CNY 608,581,060.81 in the same period of 2021[128]. - The company's net profit for the first half of 2022 was CNY 31,319,109.87, compared to CNY 11,350,800.42 in the same period of 2021, representing an increase of approximately 175.5%[133]. Revenue Sources - The sales revenue from film and television increased by 3,848.09% year-on-year, primarily due to an increase in the number of confirmed revenue-generating projects[27]. - The revenue from film and television and related products amounted to ¥307,919,610.77, representing 85.88% of total revenue, with a staggering increase of 3,848.09% compared to ¥7,799,208.73 last year[37]. - The top two revenue-generating projects were the TV series "South Wind Knows My Intent" with 150,943,396.23 CNY (42.10%) and "Mountains and Rivers Bright" with 136,800,943.39 CNY (38.15%) of total revenue[40]. Costs and Expenses - The operating cost rose to ¥228,433,137.12, reflecting a 923.68% increase from ¥22,314,913.24, primarily due to the increase in new television series sales[36]. - Research and development expenses increased to ¥560,742.56, indicating a 100% rise due to increased outsourcing of R&D[36]. - The company reported a significant increase in management expenses, which rose to CNY 29,338,252.36 from CNY 23,660,130.80 year-over-year[133]. - The company experienced a credit impairment loss of CNY -32,121,185.86 in the first half of 2022, a notable change from a gain of CNY 45,113,877.98 in the previous year[133]. Assets and Liabilities - Total liabilities increased to CNY 1,020,187,429.69 from CNY 883,998,929.23, reflecting a rise of about 15.4%[127]. - The company's equity attributable to shareholders was CNY 1,529,624,800.73 as of June 30, 2022, compared to CNY 1,499,964,127.13 at the beginning of the year, showing an increase of approximately 2%[128]. - Accounts receivable increased to CNY 442,682,883.14 as of June 30, 2022, up from CNY 242,175,680.14 at the start of the year, marking an increase of about 83%[126]. - The company's inventory decreased to 867,382,051.12 CNY, accounting for 34.08% of total assets, down from 1,064,015,699.43 CNY (44.75%) in the previous year[44]. Corporate Governance and Structure - The company is focusing on optimizing its governance structure and internal controls to enhance operational efficiency and collaboration across departments[29]. - There were changes in the board of directors, with new appointments including Zhao Huqiang as a director and vice chairman[65]. - The company has established a long-term commitment to avoid any form of competition with its subsidiaries and ensure operational independence[73]. - The company will ensure that any related party transactions are fair and reasonable, adhering to legal procedures and disclosure obligations[76]. Legal and Compliance Issues - As of June 30, 2022, the company is involved in 704 lawsuits related to false statements, with a total claim amount of 146.73 million yuan, and has recognized a provision for pending litigation of 56.41 million yuan[61]. - The company is currently involved in multiple lawsuits, including a copyright infringement case with a claim amount of 612.3 million CNY, which is still under trial[88]. - The company has ongoing litigation related to a contract dispute with Beijing Shouchuang Langyuan Cultural Development Co., with a claim amount of 112.76 million CNY, also in trial[88]. Social Responsibility and Community Engagement - A total of 4 million yuan has been spent on disaster relief and reconstruction efforts in Henan Province, benefiting 30 schools through the "Water Drop Rural Medical Room" initiative[70]. - The "Water Drop Rural Medical Room" initiative aims to enhance basic medical services and health education for children in rural areas, contributing to the health of the community[70]. - The company has engaged in social responsibility initiatives, focusing on disaster relief and community health[70]. Environmental Responsibility - The company has implemented measures to reduce carbon emissions, although specific details were not disclosed[69]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[69]. - The company has not reported any significant environmental issues or penalties affecting its operations[69]. Financial Reporting and Audit - The semi-annual financial report was not audited[83]. - The financial statements accurately reflect the company's financial position and operating results as of June 30, 2022[162]. - The financial statements were approved by the board of directors on July 26, 2022, ensuring compliance with governance standards[158].

Financial Performance - The company's operating revenue for 2021 was ¥387,819,385.11, representing a 109.71% increase compared to ¥184,935,603.34 in 2020[20]. - The net profit attributable to shareholders for 2021 was -¥333,682,036.56, an improvement of 57.48% from -¥784,855,283.01 in 2020[20]. - The net cash flow from operating activities for 2021 was -¥273,378,506.77, a significant decline of 198.87% compared to ¥276,500,167.82 in 2020[20]. - The total assets at the end of 2021 were ¥2,377,434,371.93, a decrease of 10.12% from ¥2,645,212,770.21 at the end of 2020[20]. - The company's basic earnings per share for 2021 was -¥0.34, improving by 57.50% from -¥0.80 in 2020[20]. - The weighted average return on equity for 2021 was -19.64%, an improvement of 15.07% from -34.71% in 2020[20]. - The company reported a negative operating income in the fourth quarter of 2021, with revenue of -¥72,603,420.29 due to project income reversals[25]. - The company received government subsidies amounting to ¥9,983,883.02 in 2021, down from ¥16,290,031.87 in 2020[27]. - The total operating revenue for the company in 2021 was approximately ¥387.82 million, representing a year-on-year increase of 109.71% compared to ¥184.94 million in 2020[52]. - Revenue from film and television and related products accounted for 69.04% of total revenue, amounting to approximately ¥267.74 million, which is a 205.21% increase from ¥87.72 million in the previous year[52]. - The artist management segment generated approximately ¥106.78 million, contributing 27.53% to total revenue, with a year-on-year growth of 9.84%[52]. - The company reported a negative distributable profit of -608,581,060.81 CNY for the year, leading to no cash dividend distribution[143]. Business Operations - The company’s main business has shifted to film and television production, artist agency, gaming, and other related businesses since December 2016[17]. - The company is focusing on content production and artist management, exploring new business directions in AI virtual artists, new media, e-commerce, and cultural tourism[34]. - The company is actively developing diverse content themes, including reality-based, youth spy warfare, and fantasy adventure genres[35]. - The company is committed to producing high-quality films and series that align with the mainstream values of the socialist era[35]. - The company has signed over 20 artists, including notable names such as Ren Jialun and Cheng Yi, indicating a strong talent pool[49]. - The company holds adaptation rights for over 40 scripts and novels, enhancing its intellectual property portfolio[50]. - The company has established a digital and platform-based governance system to enhance operational efficiency and transparency[41]. - The company has developed a comprehensive artist management service platform, reducing reliance on individual artists[49]. - The company is enhancing its strategic direction and risk control to improve the commercialization capabilities of its various businesses[34]. Governance and Management - The actual controller of the company changed to Zhao Zhicheng on August 17, 2021[18]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[4]. - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations[107]. - The board of directors held five meetings during the reporting period, approving 23 resolutions[108]. - The company has established a performance-based remuneration system for its executives, aligning compensation with company performance[125]. - The total remuneration for directors, supervisors, and senior management in 2021 amounted to CNY 10.74 million[127]. - The company has appointed two new deputy general managers, Zhao Huiqiang and Chen Yadong, on August 25, 2021[117]. - The company’s financial management team includes experienced professionals with backgrounds in finance and law, enhancing its governance structure[120]. Legal and Compliance Issues - The company faced administrative penalties from the China Securities Regulatory Commission, including a CNY 1 million fine for violations of the Securities Law[123]. - As of March 31, 2022, the company faced 427 new lawsuits with a total claim amount of 96.28 million yuan[102]. - The estimated liability for the lawsuits was assessed at 45.44 million yuan, with total provisions amounting to 46.48 million yuan[103]. - A total of 257 plaintiffs have filed lawsuits against the company for alleged false statements, with a total claim amount of 43.17 million yuan[101]. - The company is currently involved in 5 ongoing lawsuits regarding securities false statement liability, with a total claimed amount of 4,317,010 CNY, of which 252 cases have been settled[175]. - The company has confirmed estimated liabilities of 14.61 million yuan in 2020 and 11.87 million yuan in 2021 related to litigation[101]. - The company has not engaged in any investor communication activities during the reporting period[104]. - The company has not reported any significant changes in user data or customer metrics during the reporting period[158]. Market and Industry Trends - The long video platform industry is focusing on "narrowing losses" as a key target, with a shift from quantity to quality in content production[93]. - The television industry faces intense competition, with a "supply exceeds demand" situation leading to increased market rivalry[99]. - The company aims to enhance its governance and internal systems to align with modern enterprise development and strategic direction[95]. - The company plans to produce high-quality dramas that align with socialist values, with upcoming titles including "South Wind Knows My Intent" and "Ten Years One Product Warm as Words"[96]. Investment and Financial Management - The company has established new subsidiaries including 欢瑞星球 and 欢瑞科技, each with a registered capital of RMB 5 million and RMB 50 million respectively[91]. - The company has made commitments to avoid competition with its subsidiaries and maintain independence in operations and finances[159]. - The company has not engaged in any entrusted financial management or loans during the reporting period[193][194]. - The company has not provided guarantees for shareholders, actual controllers, or their related parties during the reporting period[192]. - The company has not reported any significant related party transactions during the reporting period[180]. - The company has not encountered any situations requiring compensation under the commitments made[163].

Financial Performance - The company's operating revenue for 2021 was ¥387,819,385.11, representing a 109.71% increase compared to ¥184,935,603.34 in 2020[19]. - The net profit attributable to shareholders for 2021 was -¥333,682,036.56, an improvement of 57.48% from -¥784,855,283.01 in 2020[19]. - The net cash flow from operating activities for 2021 was -¥273,378,506.77, a significant decline of 198.87% compared to ¥276,500,167.82 in 2020[19]. - The total assets at the end of 2021 were ¥2,377,434,371.93, a decrease of 10.12% from ¥2,645,212,770.21 at the end of 2020[19]. - The company's basic earnings per share for 2021 was -¥0.34, improving by 57.50% from -¥0.80 in 2020[19]. - The weighted average return on equity for 2021 was -19.64%, an improvement of 15.07% from -34.71% in 2020[19]. - The company reported a negative operating revenue of -¥72,603,420.29 in Q4 2021 due to income reversals from project confirmations[24]. - The total net profit attributable to shareholders in Q4 2021 was -¥393,518,747.37, following a profit of ¥48,485,910.39 in Q3 2021[24]. - The company achieved operating revenue of ¥387,819,385.11, an increase of 109.71% compared to the same period last year[33]. - Revenue from film and television sales increased by 323.35% year-on-year, with a higher number of series confirmed for revenue recognition[33]. - The net loss attributable to shareholders decreased significantly to ¥333,682,036.56, compared to the previous year's loss[33]. - Revenue from film and television and related products reached ¥267,736,528.98, accounting for 69.04% of total revenue, with a significant growth of 205.21% from ¥87,722,643.96 in the previous year[52]. - The artist management segment generated ¥106,779,070.13, which is 27.53% of total revenue, showing a modest increase of 9.84% from ¥97,212,959.38 in 2020[52]. - The domestic revenue accounted for 99.30% of total revenue at ¥385,118,343.35, reflecting a 150.87% increase from ¥153,512,848.06 in 2020[52]. - The overseas revenue dropped significantly by 91.40% to ¥2,701,041.76 from ¥31,422,755.28 in the previous year[52]. - The company reported a negative distributable profit of -608,581,060.81 CNY, leading to no cash dividend distribution for the year[141]. - The total amount of cash dividends, including share repurchase, was 33,995,635 CNY, which represents -10.19% of the net profit attributable to the parent company[141]. Business Transformation and Strategy - The company has undergone significant business transformations, shifting from automotive parts manufacturing to film production and distribution since 2016[16]. - The company is focusing on content production and artist management, exploring new business directions in AI virtual artists, new media, e-commerce, and cultural tourism[33]. - The company is actively developing diverse content themes, including reality-based, youth spy warfare, and fantasy adventure genres, to enhance IP potential and brand strength[34]. - The company is committed to producing high-quality films and series that align with the mainstream values of the socialist era, enhancing its social responsibility[34]. - The company is exploring a full industry chain development model in the artist management sector, adapting to the rapid growth of new media and internet star-making[32]. - The company plans to produce high-quality dramas that reflect mainstream socialist values, with upcoming titles including "South Wind Knows My Intent" and "Ten Years One Product Warm as Words" scheduled for release in 2022[96]. - The company intends to optimize its financial structure and improve cash flow by increasing the proportion of project pre-sales and enhancing accounts receivable collection[98]. - The company will explore new consumption and media opportunities, including AI virtual artists and e-commerce, to enhance its risk resistance and operational strength[98]. Governance and Management - The actual controller of the company changed from Zhong Junyan and Chen Yuan to Zhao Zhicheng on August 17, 2021[17]. - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations[107]. - The company has a diverse management team with backgrounds in law, finance, and auditing[120]. - The company continues to expand its management capabilities with experienced professionals in key positions[120]. - The total remuneration for directors, supervisors, and senior management in 2021 amounted to 1,074.44 million CNY[125]. - The company has implemented a performance-based remuneration system for its executives[125]. - The board of directors held five meetings during the reporting period, approving 23 resolutions[108]. - The independent directors actively participated in discussions and provided independent opinions on key matters such as profit distribution and related transactions[129]. - The company reported that the financial statements accurately reflect its operational results and governance level[130]. - The audit committee unanimously agreed on the financial report and internal control audit plan for the year 2020[130]. - The company confirmed that there were no violations in the use of raised funds during the reporting period[130]. Legal and Compliance Issues - The company is currently involved in multiple lawsuits, with a total of CNY 14.748 million in liabilities confirmed for the year 2020[173]. - The company has confirmed expected liabilities of 14.61 million yuan in 2020 and 11.87 million yuan in 2021 related to litigation[101]. - A total of 257 plaintiffs have filed lawsuits against the company for alleged false statements, with a total claim amount of 43.17 million yuan as of December 31, 2021[101]. - The company is actively managing its legal risks and liabilities, with ongoing updates on litigation and arbitration statuses disclosed regularly[173]. - The company faced disciplinary actions due to false records in restructuring documents and inadequate disclosure of related party fund occupation[177]. - The company has reported a warning and a fine of 1 million CNY for current director Zhong Jun Yan due to violations of the Securities Law[123]. - Current director Zhao Zhi Cheng was fined 80,000 CNY for similar violations[123]. Investment and Financial Management - The company has established measures to eliminate discrepancies between actual profits and performance commitments[157]. - The company is currently in the process of addressing uncertainties related to performance commitments from 2016 to 2018, aiming to confirm the completion of these commitments once uncertainties are resolved[157]. - The company has not engaged in any significant related party transactions during the reporting period[178]. - The company has no significant asset or equity acquisitions or sales during the reporting period[179]. - The company has no major contracts or leasing situations reported for the year[185]. - The company has no related party debt transactions during the reporting period[181]. - The company has no significant guarantees or collateral arrangements with related parties[182]. - The total amount of guarantees approved during the reporting period is 22,200 million, with an actual guarantee balance of 22,200 million, representing 14.80% of the company's net assets[190]. - The company signed a major contract with Alibaba (Beijing) Software Service Co., Ltd. for a film project worth 594 million, with 280.2 million received as of December 31, 2021[193]. - Another major contract was signed with Hainan iQIYI Information Technology Co., Ltd. for a film project valued at 600 million, currently in preparation[194]. Employee and Operational Insights - The total number of employees at the end of the reporting period is 177, with 111 in production, 28 in technology, 16 in finance, 15 in administration, and 7 in sales[135]. - The company has no retired employees requiring expense coverage, indicating a fully active workforce[135]. - The company emphasizes employee training and development, particularly for core team members, to enhance their skills and management capabilities[137]. - The company has implemented a performance assessment mechanism to ensure fair treatment and competitive compensation for all employees[136]. Environmental and Social Responsibility - The company is not classified as a key pollutant discharge unit by the environmental protection department[150]. - No administrative penalties were imposed on the company or its subsidiaries during the reporting period due to environmental issues[150]. - The company has not engaged in targeted poverty alleviation efforts during the reporting period[152].

欢瑞世纪联合股份有限公司 2022 年第一季度报告全文 证券代码：000892 证券简称：欢瑞世纪 公告编号：2022-29 欢瑞世纪联合股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告 中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减（%） | | --- | --- | --- | --- | | 营业收入（元） | 181,811,882.38 | 28,025,357.95 | 548.74 | | 归属于上市公司股东的净利润（元） | 12,343,756.69 | 18,551 ...

| --- | --- | |------------|----------------------------------------------------------------------| | | | | 证券代码： | 2021-61 | | | | | | 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 | 载、误导性陈述或重大遗漏。 为进一步做好投资者关系管理工作，增强与广大投资者的互动交流，欢瑞世纪联 合股份有限公司（以下简称"公司"）将参加由重庆上市公司协会联合深圳市全景网 络有限公司举办"重庆辖区上市公司 2021 年投资者网上集体接待日活动"。本次活动 将于 2021 年 11 月 25 日（下周星期四）下午 15:00-17:00 举行，投资者可以登录全 景网（http://www.p5w.net）进入公司互动平台参与互动交流。 届时，公司高级管理人员将参加本次活动，通过网络在线交流形式，与投资者进 行沟通和交流。欢迎广大投资者积极参与！ 特此公告。 欢瑞世纪联合股份有限公司董事会 二〇二一年十一月十九日 ...

Financial Performance - The company's operating revenue for Q3 2021 reached ¥398,776,450.62, representing a significant increase of 4,992.89% compared to the same period last year[3]. - Net profit attributable to shareholders was ¥48,485,910.39, marking a 293.45% increase year-over-year[3]. - The basic earnings per share (EPS) was ¥0.0494, up 292.97% from the previous year[3]. - The total revenue for the year-to-date reached ¥460,422,805.40, a staggering increase of 2,578.63% year-over-year, primarily due to increased sales of television dramas[7]. - Total operating revenue for the current period reached ¥460,422,805.40, a significant increase from ¥17,188,753.60 in the previous period, representing a growth of approximately 2571%[17]. - The net profit for the current period was ¥56,511,725.76, a turnaround from a net loss of ¥148,303,723.94 in the previous period[18]. - The profit attributable to the parent company's shareholders was ¥59,836,710.81, compared to a loss of ¥148,303,723.94 in the previous period[18]. - Basic and diluted earnings per share for the current period were both ¥0.0610, compared to a loss of ¥0.1512 in the previous period[18]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,759,473,411.56, reflecting a 4.32% increase from the end of the previous year[3]. - Total assets as of September 30, 2021, amount to 2,759,473,411.56 CNY, compared to 2,645,212,770.21 CNY at the end of 2020, showing a growth of about 4.3%[15]. - The company reported a significant increase in short-term borrowings, which rose by 378.37% to ¥58,237,975.00, due to increased bank loans[7]. - The company's total liabilities reached ¥834,135,291.22, an increase from ¥776,240,177.96 in the previous period[16]. - Current liabilities increased to 810,045,263.83 CNY from 690,014,979.63 CNY, representing an increase of approximately 17.4%[15]. Cash Flow - The company reported a cash flow deficit from operating activities of ¥-181,662,490.06, which is a 244.01% increase in cash outflow compared to the same period last year[8]. - The net cash flow from operating activities was -¥181,662,490.06, a significant decrease compared to ¥126,143,907.41 in the previous period, indicating a decline in operational efficiency[20]. - Total cash inflow from operating activities was ¥658,261,899.01, up from ¥597,074,911.76, while cash outflow increased to ¥839,924,389.07 from ¥470,931,004.35[20]. - Cash flow from investment activities showed a net outflow of -¥33,152,388.66, a decrease from a net inflow of ¥81,392,028.52 in the previous period[20]. - Cash inflow from financing activities was ¥42,792,600.00, compared to ¥22,544,000.00 in the previous period, reflecting increased borrowing[20]. - The net cash flow from financing activities improved to ¥38,075,822.11 from -¥27,132,199.43, indicating a positive shift in financing strategy[20]. - The ending balance of cash and cash equivalents was ¥505,712,470.97, down from ¥552,414,462.35, showing a decrease in liquidity[21]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,721[10]. - The largest shareholder, Huanrui United, holds 10.87% of shares, amounting to 106,651,376 shares, all of which are pledged[10]. - The top ten shareholders hold a combined 56.15% of the company's shares, indicating a concentrated ownership structure[10]. Operational Efficiency - The company recorded a decrease in sales expenses by 65.69%, totaling ¥59,710,143.15, due to reduced promotional costs[8]. - The company received government subsidies amounting to ¥7,699,670.16 during the reporting period, related to local support policies[5]. - Employee compensation payments increased slightly to ¥37,854,664.24 from ¥35,135,365.81, reflecting stable workforce costs[20]. Inventory and Receivables - Accounts receivable increased to 329,061,881.08 CNY from 186,673,272.43 CNY year-over-year, reflecting a growth of about 76.0%[14]. - Inventory as of September 30, 2021, is 1,237,695,716.69 CNY, up from 1,001,867,170.71 CNY, indicating an increase of approximately 23.5%[15]. Investment and Capital Expenditures - The company received ¥1,000,000.00 from investment recoveries, a significant drop from ¥387,000,000.00 in the previous period[20]. - The company paid ¥33,400,000.00 for investments, a decrease from ¥307,000,000.00, indicating a reduction in capital expenditures[20]. Compliance and Standards - The company did not adjust the initial balance sheet items for the new leasing standards, indicating compliance without significant impact on financials[22].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥61,646,354.78, representing a 143.29% increase compared to ¥25,338,880.34 in the same period last year[20]. - The net profit attributable to shareholders was ¥11,350,800.42, a significant recovery from a loss of ¥123,239,586.07 in the previous year, marking a 109.21% increase[20]. - The net profit after deducting non-recurring gains and losses was ¥9,831,324.38, compared to a loss of ¥87,209,675.88 in the same period last year, reflecting an increase of 111.27%[20]. - The basic earnings per share improved to ¥0.0116 from a loss of ¥0.1256, indicating a 109.24% increase[21]. - The total operating revenue for the first half of 2021 reached ¥61,646,354.78, a significant increase of 143.29% compared to ¥25,338,880.34 in the same period last year[36]. - The company reported a net profit of ¥11,350,800.42 for the first half of 2021, compared to a net loss of ¥123,239,586.07 in the same period of 2020, indicating a turnaround in profitability[126]. - Operating profit for the first half of 2021 was ¥9,727,076.68, a recovery from an operating loss of ¥120,875,736.07 in the first half of 2020[125]. - The total profit for the first half of 2021 was ¥10,759,257.75, compared to a total loss of ¥157,027,305.46 in the first half of 2020[125]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,870,206,393.31, an increase of 8.51% from ¥2,645,212,770.21 at the end of the previous year[21]. - The total liabilities rose to CNY 990,379,198.31, compared to CNY 776,240,177.96, indicating an increase of about 27.5%[121]. - The company's total equity reached CNY 1,879,827,195.00, slightly up from CNY 1,868,972,592.25, reflecting a growth of approximately 0.5%[121]. - The total current assets increased to ¥2,569,702,157.96 as of June 30, 2021, compared to ¥2,388,514,702.89 at the end of 2020[119]. - The company reported a total of CNY 943,467.31 in owner contributions during the current period[140]. - The total liabilities and owner's equity at the end of the reporting period is CNY 2,653,313,397.33[141]. Cash Flow - The net cash flow from operating activities was negative at -¥55,814,261.26, a decline of 212.27% compared to a positive cash flow of ¥49,714,871.25 in the same period last year[21]. - The company generated operating cash inflows of ¥519,820,719.34, compared to ¥382,960,877.41 in the same period of 2020, representing an increase of approximately 36%[130]. - The total cash and cash equivalents at the end of the first half of 2021 stood at ¥593,006,928.36, a decrease from ¥476,088,615.08 at the end of the first half of 2020[132]. - The company experienced a net cash flow from financing activities of -¥2,707,608.29 in the first half of 2021, compared to -¥26,810,604.41 in the same period of 2020[132]. Revenue Sources - The revenue from film and television sales increased by 219.09% year-on-year, driven by a higher number of confirmed projects[27]. - The revenue from artist management accounted for 87.35% of total revenue, amounting to ¥53,847,146.05, which represents a year-on-year increase of 68.86%[38]. - The long video platform revenue has steadily increased, with diverse operational strategies being explored to enhance user engagement and revenue growth[30]. Governance and Compliance - The company has outlined potential risks and countermeasures in its report, advising investors to remain aware of investment risks[4]. - The company has committed to ensuring the independence of its management team, including the general manager and financial director, who will not hold positions in other companies[67]. - The company has established a commitment to maintain independent financial operations, including having a separate bank account and independent financial decision-making[67]. - The company has made a long-term commitment to avoid and minimize related party transactions[70]. Legal and Regulatory Matters - The company faced a total of 27 lawsuits related to false securities statements, with a total claim amount of RMB 24.52 million, and has already been ordered to pay RMB 2.12 million in damages in 17 cases[53]. - The company reported a guarantee amount of CNY 16,200 million for its subsidiary, Huayi Brothers, with no actual guarantees occurring during the reporting period[92]. - The company is involved in multiple ongoing lawsuits, with a total estimated amount of CNY 147.48 million related to various disputes[78]. Investments and Acquisitions - The company acquired a 54.2667% stake in Qiyu Century for a total consideration of ¥15 million, enhancing its investment portfolio[44]. - The company established a new subsidiary, Huanrui Planet, with a registered capital of RMB 5 million, focusing on artist live streaming and new media brand operations[50]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 29,255[102]. - The actual controller's shareholding ratio decreased from 18.67% to 12.77% after a partnership structure change[105]. - The actual controller's shares, totaling 115,622,219 shares (11.79% of total shares), are subject to judicial freezing due to overdue financing transactions[81]. Financial Reporting and Standards - The semi-annual financial report was not audited, and the company received a non-standard audit opinion for the 2020 annual financial statements[73][74]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect the true and complete financial status as of June 30, 2021[152]. - The company has implemented the new revenue recognition standards since January 1, 2020, with retrospective adjustments made[151].

Business Focus and Strategy - The company reported a significant change in its main business focus, shifting to film production, distribution, artist management, and related entertainment services since December 6, 2016[14]. - The company aims to strengthen its main business and deepen its strategic layout in the cultural industry, focusing on high-quality productions that align with socialist values[24]. - The company has established a comprehensive business layout in TV drama investment, production, and distribution, as well as artist management, creating synergistic effects among its various business segments[24]. - The company is committed to building a healthy ecosystem in the film and television industry while promoting the dissemination of positive cultural products[24]. - The company plans to focus on high-quality content production and explore diversified business models to enhance its competitive advantage in the cultural entertainment sector[85]. - The company aims to deepen its artist management capabilities and develop a standardized, professional artist agency business[85]. - The company is committed to producing high-quality films and series that align with mainstream values in the new era[85]. Financial Performance - The company's operating revenue for 2020 was ¥184,935,603.34, a decrease of 65.76% compared to ¥540,047,298.34 in 2019[16]. - The net profit attributable to shareholders for 2020 was a loss of ¥784,855,283.01, representing an increase in loss of 42.40% from a loss of ¥551,157,816.39 in 2019[16]. - The total assets at the end of 2020 were ¥2,645,212,770.21, down 25.48% from ¥3,549,759,961.22 at the end of 2019[16]. - The net assets attributable to shareholders decreased by 29.57% to ¥1,868,972,592.25 from ¥2,653,827,875.26 in 2019[16]. - The basic and diluted earnings per share for 2020 were both -¥0.80, reflecting an increase in loss of 42.86% from -¥0.56 in 2019[16]. - The company reported a total of ¥14,926,054.97 in restricted cash due to legal disputes, impacting liquidity[65]. - The company reported a net profit attributable to shareholders of -784.86 million yuan for the year 2020, with a cumulative distributable profit of -274.90 million yuan as of December 31, 2020[97]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to ¥276,500,167.82, an increase of 2,811.77% compared to a negative cash flow of ¥10,196,281.77 in 2019[16]. - The company's cash and cash equivalents increased by 86.48% compared to the beginning of 2020, primarily due to reduced production and investment expenditures in film and television projects, as well as the recovery of accounts receivable[25]. - The total cash inflow from investment activities decreased by 61.41% to CNY 388,606,264.61 in 2020, down from CNY 1,007,040,410.00 in 2019[58]. - The company has utilized a total of 50,000 million of idle raised funds for purchasing bank principal-protected financial products, which have all matured and been redeemed[74]. Shareholder Structure and Governance - The company’s major shareholder structure changed on June 18, 2020, with the control remaining with a single major shareholder despite changes in actual control[14]. - The company has made commitments regarding the independence of its operations, ensuring that its management and financial systems are separate from those of controlling shareholders[103]. - The company has acknowledged discrepancies between actual profits and performance commitments for the years 2016 to 2018, and is taking measures to address uncertainties[103]. - The company has established a commitment to maintain independent financial operations, including separate bank accounts and independent tax obligations[103]. - The company has confirmed that there are currently no competing business operations between it and its controlled enterprises[107]. - The company has a history of normal compliance with its commitments regarding related party transactions and operational independence[107]. Risks and Challenges - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the annual report[4]. - The company faces risks from high competition in the TV drama industry, with an oversupply situation leading to increased market rivalry[89]. - The company is addressing the challenge of large accounts receivable, which can fluctuate significantly due to the timing of payments from clients after the airing of dramas[91]. - The company is currently involved in multiple lawsuits, including a case with a total claim amount of 24.52 million yuan related to alleged false statements[91]. Audit and Compliance - The company’s financial report was audited by Zhongtianyun Accounting Firm, which issued a non-standard opinion[4]. - The audit report issued by Zhongtianyun CPA included a qualified opinion due to uncertainties regarding the recoverability of accounts receivable related to "Tianxia Chang'an"[112]. - The company reported no major internal control deficiencies during the reporting period, with zero significant or important deficiencies identified in both financial and non-financial reports[200]. Social Responsibility and Community Engagement - The company engaged in social responsibility initiatives, including a charity auction that raised over ¥170,000 for children's welfare projects[36]. - The company actively participated in social responsibility initiatives, donating agricultural machinery valued at 503,900 RMB[145]. Employee and Management Structure - The company employed a total of 125 staff members, with 70 in production, 34 in technical roles, and 6 in sales[182]. - The company has established a performance-based remuneration system for its employees, ensuring competitive compensation[184]. - The total remuneration for directors, supervisors, and senior management in 2020 amounted to 7.35 million CNY[181]. - The company emphasizes employee training and development, particularly after significant asset restructuring[185].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year 2020, representing a growth of 15% compared to the previous year[9]. - The company's operating revenue for 2020 was ¥184,935,603.34, a decrease of 65.76% compared to ¥540,047,298.34 in 2019[15]. - The net profit attributable to shareholders for 2020 was a loss of ¥784,855,283.01, representing an increase in loss of 42.40% from a loss of ¥551,157,816.39 in 2019[15]. - The total revenue for 2020 was approximately ¥184.94 million, a decrease of 65.76% year-on-year, while the net profit attributable to shareholders was approximately -¥784.86 million, an increase in loss of 42.40% compared to the previous year[30]. - The company reported a net profit margin of -34.71% for 2020, compared to -18.81% in 2019[15]. - The company reported a net loss of ¥784,855,283.01 for the year 2020, with significant differences between net cash flow from operating activities and net profit[58]. Cash Flow and Assets - The net cash flow from operating activities for 2020 was ¥276,500,167.82, a significant increase of 2,811.77% compared to a negative cash flow of ¥10,196,281.77 in 2019[15]. - The company's cash and cash equivalents increased by 86.48% compared to the beginning of 2020, primarily due to reduced production and investment expenditures in film and television projects and the recovery of accounts receivable[24]. - The total assets at the end of 2020 were ¥2,645,212,770.21, a decrease of 25.48% from ¥3,549,759,961.22 at the end of 2019[15]. - The net assets attributable to shareholders at the end of 2020 were ¥1,868,972,592.25, down 29.57% from ¥2,653,827,875.26 at the end of 2019[15]. - The company's cash flow from financing activities saw a drastic decrease of 96.99%, totaling ¥22,544,000.00 in inflows[57]. Market and Strategic Outlook - The company has outlined a positive outlook for 2021, projecting a revenue growth of 20% based on new product launches and market expansion strategies[9]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[9]. - A strategic acquisition of a smaller media company is in progress, expected to enhance content offerings and increase market competitiveness[9]. - The company aims to strengthen its main business and deepen its strategic layout in the cultural industry, focusing on high-quality productions that align with socialist values[23]. - The company is actively developing new projects, with several dramas such as "Ten Years of Warmth" and "The Legend of Yao Xiang" currently in production, totaling 164 episodes across three series[32]. Risks and Challenges - The company has identified potential risks, including market competition and regulatory changes, which may impact future performance[3]. - The company faces significant risks in the television industry, including intense market competition and a supply-demand imbalance leading to increased competition and potential market share loss[89]. - The company has a large accounts receivable balance, primarily due to the timing of payments from clients after the airing of television dramas, which increases financial management difficulty and cash flow risks[91]. - The company is currently involved in multiple lawsuits related to securities false statements, with a total claim amount of 24,524,440 CNY, which may impact future profits[91]. Production and Content Development - The company has introduced two new product lines in 2020, contributing to 15% of total revenue, indicating successful market entry[9]. - The number of television dramas produced and registered in 2020 was 670, a decrease of 26% compared to 2019, indicating significant industry challenges[31]. - The company holds adaptation rights for numerous scripts and novels, ensuring a robust pipeline of content for future productions[27]. - The company is committed to producing high-quality dramas that align with mainstream values, focusing on diverse themes and genres[31]. Shareholder and Governance - No cash dividends will be distributed to shareholders for the fiscal year 2020, as the company aims to reinvest profits into growth initiatives[3]. - The company did not implement any profit distribution or capital reserve transfer to increase share capital for the year 2020 due to negative distributable profits[99]. - The company has established a commitment to maintain the independence of its personnel, assets, finances, and operations from its controlling enterprises[107]. - The company held three shareholder meetings in 2020, including one annual and two extraordinary meetings[143]. Social Responsibility and Awards - The company engaged in social responsibility initiatives, including a charity auction that raised over ¥170,000 for children's welfare projects[34]. - The company received multiple awards for its productions, including "Annual Excellent Network Drama" for "Liuli" at the China Broadcasting and Television Festival[37].