Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,990,191,140.91, a decrease of 8.84% compared to CNY 2,183,067,944.29 in the same period last year[22]. - The net profit attributable to shareholders was CNY 44,030,181.27, down 90.65% from CNY 470,926,204.61 year-on-year[22]. - The net cash flow from operating activities was negative at CNY -140,753,604.31, a decline of 160.86% compared to CNY 231,278,901.36 in the previous year[22]. - Basic and diluted earnings per share were both CNY 0.03, a decrease of 90.91% from CNY 0.33 in the same period last year[22]. - The total assets at the end of the reporting period were CNY 18,012,063,723.99, a decrease of 5.16% from CNY 18,992,548,023.58 at the end of the previous year[22]. - The net assets attributable to shareholders were CNY 10,289,114,397.62, a slight decrease of 0.19% from CNY 10,308,271,557.70 at the end of the previous year[22]. - The company reported a significant decline in net profit due to various operational challenges and market conditions[22]. - The overall revenue for the company in the first half of 2022 was approximately 1.99 billion yuan, a decrease of 8.84% compared to the same period last year[41]. - The company’s operating costs decreased by 11.77% year-on-year, amounting to approximately 1.44 billion yuan[41]. - The net profit after deducting non-recurring gains and losses dropped by 94.61% to CNY 2,449.01 million compared to the same period last year[129]. Investment and Growth Strategies - The company continues to focus on its core business while exploring new strategies for market expansion and product development[22]. - The company aims to leverage its unique IP resources to develop distinctive cultural tourism products, positioning itself as the largest cultural tourism investment platform in Hunan Province[38]. - The company is actively expanding its fund management scale and exploring new growth points in private equity, mergers and acquisitions, and private placements[63]. - The company has initiated a strategic review for potential mergers and acquisitions to strengthen its market position[156]. - The company plans to expand its market presence and invest in new technology development in the upcoming quarters[156]. - The company has set a performance guidance for the next half of the year, aiming for a revenue growth of 10%[158]. - The company is focusing on enhancing its digital media services to attract more users and increase engagement[157]. - The company has allocated 40 million for research and development of new technologies in the upcoming fiscal year[161]. - A strategic acquisition is in progress, which is projected to enhance the company's market share by 6%[161]. Operational Challenges - The company faced significant negative impacts on its tourism and advertising businesses due to the COVID-19 pandemic, leading to a decline in operating performance[61]. - The secondary market volatility has caused a slowdown in the exit of venture capital projects, directly affecting the company's investment business performance and net profit levels[62]. - The company has outlined potential risks and corresponding mitigation strategies in its management discussion[5]. Revenue and Profitability - The company reported a significant increase in user engagement, with a 38.64% rise in active users compared to the previous year[82]. - Revenue from advertising agency services reached 93.25 million yuan, representing a 19.49% increase year-on-year[82]. - The company’s advertising and gaming business has shown steady revenue and profit growth, with the online gaming segment performing well[32]. - The company reported a total of 6,338 shares in the stock change summary[106]. - The company reported a total comprehensive income of 732 million, reflecting a 30% increase from the same period last year[160]. Financial Position and Assets - Cash and cash equivalents decreased to 1,726,888,710, accounting for 9.59% of total assets, down from 10.84% at the end of the previous year[48]. - Accounts receivable increased to 805,603,761, representing 4.47% of total assets, up from 3.62% year-over-year[48]. - The company reported a total of 236,141,980 shares held by Hunan Broadcasting Network Holding Group, the largest shareholder[110]. - The total assets at the end of the reporting period were 6.0 billion yuan, with total liabilities of 4.3 billion yuan[157]. - The company's current ratio decreased by 2.20% to 126.77 compared to the previous year[129]. - The debt-to-asset ratio improved by 1.90% to 36.96% from the previous year[129]. Corporate Governance and Compliance - The management emphasized the importance of maintaining transparency and compliance in all related party transactions[82]. - The company adheres to the accounting standards for enterprises, ensuring that financial statements accurately reflect its financial position, operating results, and cash flows[175]. - The company includes all subsidiaries in its consolidated financial statements, ensuring comprehensive financial reporting[181]. Future Outlook - Future performance guidance indicates a projected revenue growth of 12% for the next fiscal year, driven by increased advertising demand[82]. - The company has set performance guidance for the next quarter, aiming for a revenue increase of at least 5%[83]. - The company plans to expand its market presence by entering three new regions by the end of 2022[161].

Revenue and Profit Performance - Revenue in 2021 decreased by 26.94% to 4.34 billion yuan compared to 5.94 billion yuan in 2020[31] - Net profit attributable to shareholders in 2021 was 330.43 million yuan, a significant increase of 122.50% from a loss of 1.47 billion yuan in 2020[33] - Total revenue in 2021 was 4.34 billion yuan, with a net profit attributable to shareholders of 330.43 million yuan, marking a turnaround from losses[64] - Total operating revenue in 2021 was 4.34 billion yuan, a year-on-year decrease of 26.94%[74] - The company's weighted average return on equity (ROE) improved to 3.22% in 2021 from -13.77% in 2020[33] - The company's basic and diluted earnings per share (EPS) in 2021 were both 0.23 yuan, a significant recovery from -1.04 yuan in 2020[33] Business Strategy and Focus - The company plans to focus on investment and tourism as its core business sectors, aiming to expand investment scale and accelerate the implementation of tourism projects to create new revenue growth points[8] - The company plans to focus on "cultural tourism + investment" strategy in 2022, aiming to develop new cultural tourism products and expand investment business[116] - Key measures for cultural tourism include accelerating the launch of unique products like Mango City and Mango Adventure Park, and integrating technology such as metaverse applications[118] - The investment business will focus on extending the industrial chain and upgrading to a large asset management platform, with Dachen Caizhi aiming to raise new funds totaling 11 billion yuan[119] Impact of COVID-19 - The COVID-19 pandemic has significantly impacted the company's tourism and advertising businesses, with local outbreaks in 2021 causing periodic negative effects[9] - COVID-19 pandemic continues to pose risks to the company's cultural tourism and advertising businesses, with potential negative impacts on performance[124] Cash Flow and Financial Position - Operating cash flow in 2021 surged by 306.13% to 635.48 million yuan compared to 156.47 million yuan in 2020[33] - Investment cash inflow surged by 94.33% to 2.47 billion yuan, primarily due to financial asset distributions and gains from asset disposals[95][98] - Financing cash outflow rose by 64.44% to 5.41 billion yuan, mainly due to loan repayments and centralized payments[98] - Net cash flow from investment activities turned positive at 789.13 million yuan, a significant improvement from a negative 552.66 million yuan in the previous year[98] - Total assets at the end of 2021 decreased by 8.62% to 18.99 billion yuan from 20.78 billion yuan in 2020[33] - Monetary funds decreased by 1.01% of total assets, amounting to 2.06 billion yuan, representing 10.84% of total assets[99] - Long-term equity investments decreased by 1.15% of total assets, totaling 2.44 billion yuan, or 12.83% of total assets[99] - Contract liabilities increased by 0.87% of total assets, reaching 226.54 million yuan, or 1.19% of total assets[102] Non-Recurring Items and Investment Income - The company's non-recurring gains in 2021 included 54.16 million yuan from the reversal of bad debt provisions[39] - The company's non-recurring profit and loss items include compensation for delayed transactions due to permission sales, amounting to 4,799,315.07 yuan[42] - The company's total non-recurring profit and loss for the period was 93,216,670.76 yuan, compared to 181,765,664.40 yuan in the previous period[42] - The company's fair value change gains were 4,428,803.81 yuan, primarily from investment gains in various funds and companies[42] - The company's investment income from financial assets held for trading was 13,854,759.00 yuan, including dividends from multiple entities[42] - The company's disposal of financial assets resulted in a loss of -145,068.40 yuan[45] - The company's total investment income from various sources amounted to 1,246,419,609.08 yuan[45] Tourism and Cultural Projects - The company's tourism market in 2021 showed a steady recovery, with cross-provincial travel returning to pre-pandemic levels[49] - The company's Saint Jofre Grand Hotel and Window of the World theme park achieved significant recognition and growth, with the latter ranking third in national theme park brand influence[50] - The company's cultural tourism strategy was elevated to a provincial-level strategy, included in the "14th Five-Year Plan" for cultural and tourism development in Hunan Province[66] - The "Mango City" project, a core cultural tourism product leveraging Hunan Broadcasting's IP resources, was listed as a key construction project in Hunan Province[66] - The "Mango City" project attracted nearly 200,000 visitors during the National Day Golden Week in 2021[66] - The company's subsidiary, Changsha Window of the World theme park, achieved a record annual visitor count of over 1.3 million, with continuous growth for more than a decade[56] - Changsha Window of the World successfully held 18 creative cultural theme activities, ranking third in the national theme park brand online influence index in December 2021, up 6 places[67] - St. Germain Hotel strengthened product marketing and held various food culture activities, achieving leading business performance in the province and winning the "Golden Leaf Green Tourism Hotel" title[67] Investment and Venture Capital - The company's venture capital arm, Dachen, ranked ninth in the "China Best Venture Capital Institutions" list in 2021, maintaining its position as a top domestic venture capital firm[51] - The company's investment arm, Dachen Capital, achieved a net profit of 550 million yuan in 2021, setting a historical record[64] - Dachen Capital managed a total fund size of 36 billion yuan, invested in over 640 companies, with 120 companies listed on the stock market[64] - In 2021, Dachen Caizhi's rapid revenue growth was attributed to its strong market position and diversified investment strategies[125] - The subsidiary Shenzhen Dachen Caixin Venture Capital Management Co., Ltd. achieved a net profit of 67.45 million yuan, with total assets of 261.60 million yuan and revenue of 1.69 million yuan[113] - Shenzhen Dachen Caizhi Venture Capital Management Co., Ltd. reported a net profit of 550.05 million yuan, with total assets of 2.72 billion yuan and revenue of 310.64 million yuan[113] - Shenzhen Dachen Venture Capital Co., Ltd. recorded a net profit of 337.47 million yuan, with total assets of 2.08 billion yuan and revenue of 5.76 million yuan[113] Advertising and Media Business - The company's advertising business turned a profit in 2021, achieving stable performance[64] - Advertising operations accounted for 69.13% of total operating revenue, with a year-on-year decrease of 13.15%[74] - Advertising operations accounted for 88.80% of total operating costs, with a year-on-year decrease of 14.57%[78] - Yunhong Communication's advertising business achieved a turnaround through marketing integration and expansion into new streaming media platforms[68] Game Business - The company's online game business continued to grow steadily, with key games including "Audition," "Mobile Suit Gundam Online," and "Love Apartment Puzzle"[59] - Game business revenue was 458.77 million yuan, accounting for 10.57% of total operating revenue, with a year-on-year increase of 8.02%[74] - Shanghai Jiuzhi Run's game business continued steady growth, achieving a net profit of 121 million yuan in 2021, a year-on-year increase of 10%[68] - Shanghai Jiuzhi Run Information Technology Co., Ltd., a subsidiary focused on online games, generated a net profit of 120.73 million yuan, with total assets of 442.19 million yuan and revenue of 458.78 million yuan[113] Corporate Governance and Leadership - The company held 1 annual general meeting and 2 extraordinary general meetings during the reporting period, with investor participation rates of 25.49%, 22.47%, and 21.70% respectively[139] - The company has 9 directors, including 3 independent directors, and held 11 board meetings during the reporting period[131] - The company has 3 supervisors, including 1 employee supervisor, and held 4 supervisory board meetings during the reporting period[131] - The company's chairman and CEO holds 100,000 shares with no changes during the reporting period[140] - The company maintains independence in business, personnel, assets, organization, and finance from its controlling shareholder[136] - The company has a complete business system and independent operating capabilities, with no horizontal competition with the controlling shareholder[136] - The company has an independent human resources department and complies with labor laws in employee management[136] - The company has an independent financial department with separate accounting systems and bank accounts[136] - The company's governance status complies with CSRC regulations and shows no significant differences[135] - The company emphasizes investor relations through various communication channels and ensures equal information access for all shareholders[131] - Wang Yanzhong was elected as the Chairman of the Board on July 2, 2021[146] - Yang Yun was elected as a director on September 22, 2021[146] - The company reported no changes in directors, supervisors, or senior management during the reporting period[146] - Wang Yanzhong currently holds multiple leadership roles, including Chairman and General Manager of Hunan TV & Broadcast Intermediary Co., Ltd[147] - Yang Yun has extensive financial management experience and currently serves as the Director of Finance at Hunan Broadcasting System and Deputy General Manager of Mango Media[147] - Zhao Hongqiong serves as the Vice President and Director of Hunan TV & Broadcast Intermediary Co., Ltd, and also holds leadership roles in several affiliated companies[147] - Shen Bo is the Vice President and Director of Hunan TV & Broadcast Intermediary Co., Ltd, and Chairman of Yunhong Communication Technology (Guangzhou) Co., Ltd[147] - Fu Weigang is the Vice President and CFO of Hunan TV & Broadcast Intermediary Co., Ltd, with prior experience as CFO at Jiangxi Bosheng Information Technology Co., Ltd[149] Executive Compensation - Total compensation for senior management in the reporting period amounted to 320,981 units[146] - Compensation for specific executives: Shen Bo received 29,300 units, and Mao Xiaoping received 191,681 units[143][146] - The company's Chairman and CEO, Wang Yanzhong, received a pre-tax remuneration of 3.384 million yuan[159] - The company's Vice President, Zhao Hongqiong, received a pre-tax remuneration of 2.3072 million yuan[159] - The company's Vice President, Shen Bo, received a pre-tax remuneration of 2.383 million yuan[159] - The company's Vice President and CFO, Fu Weigang, received a pre-tax remuneration of 2.2705 million yuan[159] - The company's independent directors each received an annual allowance of 180,000 yuan[159] - The company's total pre-tax remuneration for directors, supervisors, and senior management was 22.0753 million yuan[162] Dividend Policy and Distribution - The company has approved a profit distribution plan to distribute a cash dividend of 0.20 yuan per 10 shares (tax included) based on a total share capital of 1,417,556,338 shares[11] - The company's cash dividend policy stipulates that the cumulative cash dividends distributed in the last three years should not be less than 30% of the average annual distributable profits over the same period[188] - The company plans to distribute a cash dividend of RMB 0.20 per 10 shares, totaling RMB 28.35 million, based on a total share capital of 1,417,556,338 shares[189] - The cash dividend amount accounts for 16.87% of the total distributable profits[189] Internal Control and Audit - The company's internal control system is effective, with 93.45% of the total assets and 95.04% of the total revenue included in the evaluation scope[194] - No significant or material defects were found in the company's financial and non-financial reporting internal controls during the reporting period[194] - The company's internal control audit report received a standard unqualified opinion, consistent with the board's self-evaluation report[197] Board Meetings and Decisions - The company's Board of Directors held its 10th meeting on January 13, 2021, to review and approve the proposal to reappoint the accounting firm[163] - The company's Board of Directors held its 11th meeting on March 3, 2021, to review and approve the proposal to provide a loan guarantee for its subsidiary, Yunhong Communication Technology (Guangzhou) Co., Ltd[163] - The company's Board of Directors held its 12th meeting on April 28, 2021, to review and approve the 2020 annual report and the 2020 profit distribution plan[163] - The company's Board of Directors approved the 2021 operating plan and the 2021 first-quarter report during its 12th meeting[163] Expenses and Cost Management - Sales expenses decreased by 25.02% to 438,818,618.94 yuan, mainly due to the exclusion of network company salaries[87] - Management expenses decreased by 50.07% to 554,432,241.85 yuan, also due to the exclusion of network company salaries[87] - Financial expenses decreased by 36.02% to 203,713,549.20 yuan, mainly due to reduced financing scale and repayment of long-term investments[90] - R&D expenses increased by 6.94% to 90,760,192.77 yuan, accounting for 2.09% of total revenue[90][93] - The company's R&D personnel decreased by 1.20% to 165 people, with a slight increase in the proportion of R&D personnel to 7.88%[93] Asset and Liability Management - Financial assets, including trading financial assets and other equity instrument investments, decreased by 736.36 million yuan in fair value[103] - Restricted assets, primarily due to bank acceptance guarantees and project deposits, amounted to 128.93 million yuan[106] Customer and Supplier Concentration - The company's top 5 customers accounted for a total sales amount of 1,612,782,378.03 yuan, representing 37.16% of the total annual sales[83][85] - The top 5 suppliers accounted for a total procurement amount of 1,879,374,373.54 yuan, representing 57.82% of the total annual procurement[85] R&D and Innovation Projects - The company's overseas mobile game customization project is continuously being adjusted according to market and customer requirements[91] - The company's second-hand trendy toy platform project is undergoing monthly system updates, aiming to accumulate market share and increase traffic[91] - The company's game platform system is undergoing monthly maintenance and new product SDK development to ensure smooth operation[91]

Revenue and Profit - The company's operating revenue for Q1 2022 was ¥925,738,924.16, a decrease of 3.80% compared to ¥962,332,600.58 in the same period last year[4] - Net profit attributable to shareholders increased by 61.35% to ¥30,532,811.52 from ¥18,922,919.09 year-on-year[4] - The net profit after deducting non-recurring gains and losses surged by 237.13% to ¥22,846,306.43 compared to ¥6,776,670.45 in the previous year[4] - Total operating revenue for the current period is ¥925,738,924.16, a decrease of 3.1% from ¥962,332,600.58 in the previous period[25] - Net profit for the current period is ¥51,646,029.84, compared to ¥50,149,619.26 in the previous period, reflecting a slight increase of 3.0%[28] - Basic earnings per share for the current period is ¥0.02, up from ¥0.01 in the previous period[31] Cash Flow - The net cash flow from operating activities was ¥22,045,815.41, down 95.78% from ¥521,898,015.40 in the same period last year[4] - The company reported a significant decrease in cash received from operating activities, totaling ¥65,531,331.59, down 86.61% from ¥489,380,385.07 in the previous year[10] - Cash inflow from operating activities totaled ¥1,135,370,643.41, a decrease of 32.5% from ¥1,682,894,396.68 in the previous period[32] - The company experienced a net increase in cash from operating activities of ¥65,531,331.59, down from ¥489,380,385.07 in the previous period[32] - The net cash flow from operating activities was $22,045,815.41, a significant decrease of 95.77% compared to $521,898,015.40 in the previous period[35] - Cash paid for operating activities totaled $1,113,324,828.00, a decrease from $1,160,996,381.28 in the previous period[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥18,602,648,058.90, a decrease of 2.05% from ¥18,992,548,023.58 at the end of the previous year[4] - Current assets totaled CNY 6,407,034,625.05, down from CNY 6,706,745,343.88 at the beginning of the year, indicating a decrease of approximately 4.46%[18] - The total liabilities of the company were CNY 7,200,606,674.84, down from CNY 7,380,659,481.39, indicating a reduction of about 2.44%[21] - The company's equity attributable to shareholders decreased to CNY 10,276,803,488.24 from CNY 10,308,271,557.70, a decline of approximately 0.30%[24] - The company's total equity was CNY 11,402,041,384.06, down from CNY 11,611,888,542.19, reflecting a decrease of approximately 1.80%[24] Investments and Financial Expenses - Financial expenses decreased by 57.32% to ¥18,358,866.41, attributed to increased interest income offsetting financial costs[7] - Investment income for the current period is ¥50,317,976.75, down significantly from ¥196,397,363.66 in the previous period[28] - Cash received from investment activities was $907,605,453.88, slightly up from $901,654,120.00 in the previous period[35] - Cash paid for investments was $589,318,983.04, down from $980,810,439.27 in the previous period[35] Changes in Specific Accounts - Contract assets increased by 52.31% to ¥300,254,908.88, primarily due to an increase in receivables from advertising business[7] - Contract liabilities rose by 88.82% to ¥427,753,737.55, mainly from increased prepayments for advertising services and fund management fees[7] - Accounts receivable decreased to CNY 650,164,510.98 from CNY 686,680,840.19, representing a decline of approximately 5.31%[18] - The company reported a decrease in inventory to CNY 1,018,141,922.59 from CNY 1,027,112,686.87, a decline of approximately 0.70%[18] - The total non-current assets were CNY 12,195,613,433.85, down from CNY 12,285,802,679.70, indicating a decrease of about 0.73%[18] Overall Performance - The company reported a total comprehensive loss of ¥63,454,199.53 for the current period, compared to a loss of ¥164,291,748.41 in the previous period[30] - The net cash flow from investing activities was $318,286,470.84, recovering from a negative cash flow of $79,156,319.27 in the previous period[35] - Cash inflow from financing activities totaled $2,182,063,295.71, an increase of 37% compared to $1,593,205,775.61 in the previous period[35] - The net cash flow from financing activities was -$258,558,479.34, an improvement from -$585,951,602.42 in the previous period[35] - The total cash and cash equivalents at the end of the period amounted to $2,010,000,520.35, down from $2,191,038,823.48 in the previous period[35] - The company reported a cash increase of $80,570,112.69, contrasting with a decrease of $143,241,621.29 in the previous period[35]

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,188,897,708.06, a decrease of 20.58% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥9,322,239.38, representing a significant decline of 98.55% year-on-year[4]. - The net profit after deducting non-recurring gains and losses was -¥15,945,535.99, a decrease of 97.54% compared to the previous year[4]. - Total operating revenue for the current period is ¥3,371,965,652.35, a decrease of 14.7% from ¥3,954,709,474.70 in the previous period[28]. - Net profit for the current period is ¥733,348,336.99, compared to a net loss of ¥851,847,488.86 in the previous period[31]. - The total comprehensive income attributable to the parent company was ¥202,878,946.88, compared to a loss of ¥518,799,850.10 in the previous period[34]. - Basic earnings per share improved to ¥0.33 from a loss of ¥0.64 in the previous period[33]. Assets and Liabilities - The total assets at the end of the reporting period were ¥19,556,157,589.33, down 5.91% from the end of the previous year[4]. - Current assets totaled RMB 6,795,212,314.28, down from RMB 7,476,218,268.34, indicating a decrease of about 9.1% year-over-year[21]. - The company's cash and cash equivalents were RMB 1,924,828,201.45, a decline of 22% from RMB 2,463,368,444.77 at the end of 2020[18]. - Total liabilities decreased to RMB 7,857,234,639.82 from RMB 9,146,858,594.12, representing a reduction of approximately 14.1%[24]. - The company's equity attributable to shareholders increased to RMB 10,390,605,411.33 from RMB 10,195,922,878.18, showing a growth of about 1.9%[24]. - The total current liabilities increased to RMB 5,464,629,421.48 from RMB 4,709,196,057.69, marking an increase of about 16%[24]. Cash Flow - The company reported a net cash flow from operating activities of ¥570,541,915.43, an increase of 93.02% year-to-date[4]. - Cash flow from operating activities increased to ¥570,541,915.43, up by ¥274,954,133.68, marking a growth of 93.02% compared to the previous year[10]. - Cash inflow from investment activities totaled approximately $2.37 billion, an increase from $1.07 billion year-over-year[38]. - Net cash flow from investment activities was approximately $371.69 million, compared to a negative cash flow of $141.07 million in the previous year[38]. - Cash inflow from financing activities reached approximately $3.11 billion, up from $2.68 billion year-over-year[38]. - Net cash flow from financing activities was negative at approximately -$1.46 billion, contrasting with a positive cash flow of $161.51 million in the previous year[38]. - The ending balance of cash and cash equivalents was approximately $1.82 billion, down from $2.33 billion year-over-year[38]. Investment and Income - The investment income from various projects totaled ¥950,428,990.87, indicating a strong performance in venture capital investments[6]. - The company's investment income rose to ¥903,085,448.40, an increase of ¥290,948,002.07, representing a growth of 47.53% year-over-year[10]. - The company reported a significant increase in cash received from investment returns, totaling ¥1,198,223,498.69, which is an increase of ¥571,747,546.65 or 91.26% year-over-year[10]. - Cash received from investment income was approximately $1.20 billion, compared to $626.48 million in the previous year[38]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 80,609, with the largest shareholder, Hunan Broadcasting Network, holding 16.66% of the shares[14]. Other Financial Metrics - The weighted average return on net assets was -0.09%, a decrease of 5.86% year-on-year[4]. - The company received government subsidies amounting to ¥10,205,755.10 during the reporting period[6]. - The total amount of other receivables decreased by ¥275,506,529.03, a decline of 57.91% compared to the previous year[10]. - The company's short-term borrowings decreased by ¥319,389,251.62, reflecting a reduction of 34.71% due to changes in the bank loan structure[10]. - Contract liabilities increased significantly by ¥87,276,752.91, a growth of 130.77%, primarily driven by the expansion of advertising business[10]. - The company experienced a 1738.89% increase in credit impairment losses, amounting to ¥67,241,079.69, mainly due to the recovery of receivables[10]. - The total cash paid for investment reached ¥1,974,376,695.07, an increase of ¥1,016,911,794.07 or 106.21% compared to the previous year, driven by increased venture capital investments[13]. - Research and development expenses increased to ¥64,127,792.20 from ¥58,391,598.91, reflecting a focus on innovation[28]. - The company reported a tax expense of ¥124,082,930.23, up from ¥65,514,877.78 in the previous period[31].

股票代码：000917 股票简称：电广传媒 公告编号：2021-38 债券代码：112638 债券简称：18 湘电 01 湖南电广传媒股份有限公司 关于参加 2021 年湖南辖区上市公司投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 为进一步强化与投资者的互动交流，使广大投资者能更深入全面地了解公司 情况，湖南电广传媒股份有限公司（以下简称"公司"）将参加由中国证券监督 管理委员会湖南监管局主办、湖南省上市公司协会与深圳市全景网络有限公司协 办的"2021 年湖南辖区上市公司投资者网上集体接待日"活动，现将有关事项 公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台，采取网络远程的方式举行，投资者可以登陆"全景·路演天下"网站 （http://rs.p5w.net），参与公司本次投资者集体接待日活动，活动时间为 2021 年 9 月 24 日（星期五）下午 15:00－17:00。 届时公司董事会秘书谭北京等相关人员将通过网络文字交流形式与投资者 进行沟通。 欢迎广大投资者积极参与。 湖南电广 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,183,067,944.29, a decrease of 11.17% compared to ¥2,457,668,744.68 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was ¥470,926,204.61, a significant recovery from a loss of ¥267,223,288.50 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥454,539,659.66, compared to a loss of ¥319,604,245.80 in the same period last year[25]. - The net cash flow from operating activities was ¥231,278,901.36, a substantial increase of 2,669.13% from ¥8,352,038.05 in the previous year[25]. - The basic and diluted earnings per share were both ¥0.33, recovering from a loss of ¥0.19 per share in the same period last year[25]. - The weighted average return on equity was 4.55%, an increase of 7.00% compared to -2.45% in the previous year[25]. - The company achieved a revenue of 2.183 billion yuan and a net profit attributable to shareholders of 471 million yuan, marking a turnaround from losses year-on-year[36]. - The company reported a net profit of CNY 45,453.97 million, a significant increase compared to a loss of CNY 31,960.42 million in the same period last year[178]. Assets and Liabilities - Total assets at the end of the reporting period were ¥19,576,081,818.11, a decrease of 5.81% from ¥20,783,592,605.53 at the end of the previous year[25]. - The company's total assets as of June 30, 2021, were CNY 4,000,000 million, compared to CNY 4,500,000 million at the end of 2020[183]. - The company's total liabilities decreased to CNY 1,568,000 million from CNY 1,980,000 million, reflecting a reduction in financial obligations[183]. - Total liabilities decreased from ¥9,146,858,594.12 to ¥7,667,330,070.72, a decline of about 16.2%[192]. - Long-term borrowings increased from ¥669,924,754.75 to ¥1,185,000,000.00, an increase of about 77%[192]. - The total amount of bonds payable decreased from 2,800,000,000.00 to 1,000,000,000.00, a decrease of about 64.3%[199]. Revenue Growth - The investment business, managed by Dacheng Investment and Dacheng Finance, reported a net profit of 487.79 million yuan, reaching a historical high[39]. - The company’s tourism project, Changsha World Window, recorded an income of 77.78 million yuan and a net profit of 16.00 million yuan in the first half of 2021[39]. - The company’s five-star hotel, Saint Jue Fei Si, achieved an operating income of 85.69 million yuan and a net profit of 16.62 million yuan during the same period[39]. - The company’s media game business, managed by Shanghai Jiuzhirun, reported a net profit of 75.90 million yuan, reflecting a year-on-year growth of 27.18%[40]. - The hotel revenue increased by 87.35% to ¥89,891,559.67 from ¥47,980,668.90, indicating strong performance in the hospitality sector[48]. - The tourism revenue surged by 134.78% to ¥76,423,184.06 from ¥32,551,665.70, highlighting growth in the tourism business[48]. Strategic Focus - The company is focusing on the "cultural tourism + investment" strategy, with significant progress in developing new tourism projects, including the signing of the Yiyang 691 Time Town project[36]. - The company aims to leverage unique IP resources for deep development in cultural tourism, targeting to become the largest cultural tourism investment platform in Hunan Province[41]. - The company is actively pursuing resource acquisition and mergers and acquisitions to support its strategic objectives[39]. Investment and Fund Management - The company has invested in over 600 enterprises, with 116 successfully listed, and managed a total fund size of 36 billion yuan[36]. - The venture capital business, managed by Dacheng Venture Capital, has a total fund size of ¥36 billion and has invested in over 600 companies, with 116 listed and more than 90 on the New Third Board[41]. - Investment income rose by 147.98% to ¥829,834,203.00 from ¥334,637,608.05, driven by increased fund distribution income[48]. - The company reported a significant increase in contract liabilities, rising to approximately $116.80 million, up from $66.74 million[56]. Corporate Governance and Social Responsibility - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company and its subsidiaries contributed a total of 66,500 yuan to support COVID-19 prevention efforts, and donated six negative pressure ambulances valued at 2.01 million yuan to hospitals[84]. - The company invested approximately 20.96 million yuan in poverty alleviation efforts in 2020[86]. - The company has not faced any significant legal disputes or penalties during the reporting period[98]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 85,759[148]. - The largest shareholder, Hunan Broadcasting Network Holding Group Co., Ltd., holds 16.66% of the shares, totaling 236,141,980 shares[148]. - A total of 122,433,108 restricted shares were reported at the beginning of the period, with 122,173,622 shares released during the period, resulting in 259,486 shares remaining[148]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[156].

Financial Performance - The company's operating revenue for Q1 2021 was ¥962,332,600.58, a decrease of 20.36% compared to the same period last year[9]. - The net profit attributable to shareholders was ¥18,922,919.09, a significant recovery from a loss of ¥141,879,832.65 in the previous year[9]. - Basic and diluted earnings per share were both ¥0.01, recovering from a loss of ¥0.10 per share in the previous year[9]. - The weighted average return on equity improved to 0.19%, up from -1.29% in the same period last year[9]. - Total revenue for the period was ¥962,332,600.58, a decrease of 20.36% compared to ¥1,208,283,847.92 in the same period last year[20]. - Net profit for the current period is CNY 50,149,619.26, compared to a net loss of CNY 186,348,890.32 in the previous period, indicating a significant turnaround[61]. - The company reported a gross profit of CNY 38,937,843.43, recovering from a loss of CNY 174,377,466.34 in the previous period[61]. - The company has reported a total comprehensive loss of CNY 164,291,748.41 for the current period, compared to a loss of CNY 190,504,218.91 in the previous period, showing improvement[64]. Cash Flow - The net cash flow from operating activities increased by 967.00% to ¥521,898,015.40 compared to ¥48,912,825.20 in the same period last year[9]. - Cash flow from operating activities for the current period is 1,682,894,396.68, an increase from 1,273,061,673.11 in the previous period[72]. - Cash flow from investing activities shows a net outflow of -79,156,319.27, compared to -87,964,509.24 in the previous period, indicating a slight improvement[75]. - Cash flow from financing activities has a net outflow of -585,951,602.42, worsening from -52,449,984.28 in the previous period[78]. - The total cash inflow from operating activities includes 489,380,385.07 from other operating activities, significantly higher than 15,150,450.95 in the previous period[72]. - The net cash flow from operating activities was ¥412,814,192.98, a significant improvement compared to the previous period's net cash flow of -¥131,460,817.36[79]. - Cash received from operating activities totaled ¥498,100,904.67, compared to ¥41,765,043.53 in the previous period[79]. Assets and Liabilities - Total assets at the end of the reporting period were ¥19,996,906,223.49, a decrease of 3.79% from the end of the previous year[9]. - The net assets attributable to shareholders decreased by 0.98% to ¥10,095,832,536.90 compared to the previous year-end[9]. - Current liabilities increased to ¥5,313,970,996.31 from ¥4,709,196,057.69, an increase of about 12.8%[43]. - Non-current liabilities decreased to ¥3,377,142,964.18 from ¥4,437,662,536.43, a decline of approximately 23.9%[43]. - Total liabilities decreased to ¥8,691,113,960.49 from ¥9,146,858,594.12, a reduction of about 5.0%[43]. - Owner's equity decreased to ¥11,305,792,263.00 from ¥11,636,734,011.41, reflecting a decline of approximately 2.8%[46]. - Total current assets decreased to ¥7,613,598,502.08 from ¥8,001,185,214.46, a decline of approximately 4.8%[47]. Investments - The company recognized government subsidies amounting to ¥13,204,945.10 during the reporting period[9]. - The company reported an increase in investment income to ¥196,397,363.66, up from ¥15,118,426.25, reflecting a significant rise in fund distribution income[20]. - Long-term equity investments increased to ¥2,944,557,845.94 from ¥2,906,442,899.40, reflecting a growth of approximately 1.3%[40]. - Other equity instrument investments decreased slightly to ¥8,356,414,624.53 from ¥8,398,921,234.63, a decline of about 0.5%[40]. - Cash received from investment income was ¥146,600,000.00, a notable increase from ¥1,221,000.00 in the previous period[82]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 89,462[13]. - The largest shareholder, Hunan Broadcasting Network Group, held 16.66% of the shares, totaling 236,141,980 shares[13].

Financial Performance - The company's operating revenue for 2020 was approximately ¥5.94 billion, a decrease of 16.07% compared to ¥7.08 billion in 2019[27]. - The net profit attributable to shareholders for 2020 was approximately -¥1.47 billion, compared to a profit of ¥111.11 million in 2019[27]. - The net cash flow from operating activities decreased by 91.04% to approximately ¥156.47 million from ¥1.75 billion in 2019[27]. - The basic and diluted earnings per share for 2020 were both -¥1.040, compared to ¥0.08 in 2019[27]. - The weighted average return on net assets was -13.77% in 2020, down from 1.02% in 2019[27]. - The company reported a total revenue of 593,994.18 million yuan in 2020, a decrease of 16.07% year-on-year, with a net loss attributable to shareholders of 146,839.40 million yuan[55]. - The company reported a net profit of CNY 1.10 billion during the reporting period[62]. - The company’s advertising business faced significant challenges due to the pandemic, leading to a historical loss for its subsidiary, Yunhong Media[62]. - The company’s revenue from network transmission services was CNY 1.43 billion, down 20.07% from the previous year[67]. - The company’s film and television production and distribution segment saw a dramatic decline, with revenue dropping by 94.96% to CNY 41 million[67]. Impact of COVID-19 - The COVID-19 pandemic significantly impacted the company's performance across its cultural tourism, advertising, and cable network businesses, leading to a substantial decline in operating results[8]. - The company is closely monitoring the economic situation due to the pandemic and is adjusting its strategies to mitigate impacts on its business[8]. - The company’s tourism and culture business, including the World Window theme park, achieved over 1.3 million visitors annually, demonstrating resilience despite the pandemic[50]. - The company’s cable group has taken on significant responsibilities during the pandemic, providing free access to all cable TV programs and launching online educational services[60]. Business Strategy and Development - The company plans to participate in the establishment of China Broadcasting Network Co., Ltd. to enhance its cable network business amid competition from IPTV and internet video[7]. - The company plans to focus on developing unique cultural tourism products and expanding its cultural tourism resources[45]. - The company aims to integrate and expand its cultural tourism resources to create new growth points[45]. - The company has established Hunan Mango Cultural Tourism Investment Co., Ltd. to enhance its cultural tourism business[45]. - The company has engaged in the acquisition of quality tourism resources through various methods, including mergers and partnerships[112]. - The company aims to enhance product competitiveness through increased investment in new product development[84]. - The company is actively exploring new business opportunities in the "stay-at-home economy" and expanding overseas[62]. - The company has initiated the establishment of a joint venture to develop new drone advertising business[62]. Asset and Investment Management - Total assets at the end of 2020 were ¥20,783,592,605.53, a decrease of 7.21% compared to the end of 2019[30]. - Net assets attributable to shareholders at the end of 2020 were ¥10,195,922,878.18, down 7.77% from the end of 2019[30]. - The company’s fixed assets decreased by 81.96% compared to the previous year, primarily due to the exclusion of the cable network group from consolidation[49]. - The intangible assets decreased by 92.10% year-on-year, mainly due to the exclusion of the cable network group[49]. - The company’s investment in other equity instruments increased by 135% year-on-year, mainly due to participation in the national cable network integration[49]. - The investment business, managed by Dacheng Venture Capital, has a total fund size of 350 billion yuan, with over 580 invested companies, including more than 100 listed companies and 90 on the New Third Board[51]. Cash Flow and Financing - Operating cash inflow decreased by 19.63% to approximately ¥6.21 billion in 2020 from ¥7.73 billion in 2019, primarily due to a decline in revenue from the cable group and the impact of the pandemic on the cultural tourism and advertising businesses[90]. - Financing cash inflow increased by 2.57% to approximately ¥4.01 billion in 2020, while financing cash outflow decreased significantly by 53.12% to approximately ¥3.29 billion[90]. - The net increase in cash and cash equivalents was approximately ¥315.86 million in 2020, a turnaround from a decrease of ¥585.76 million in 2019[90]. - The total amount of monetary funds at the end of 2020 was approximately ¥2.46 billion, representing 11.85% of total assets, an increase from 9.76% at the beginning of the year[93]. Shareholder and Dividend Policy - The company will not distribute cash dividends or issue bonus shares for the year[10]. - The company did not propose a cash dividend distribution plan for the reporting period despite having a positive profit available for distribution to ordinary shareholders[125]. - The company’s cash dividend policy stipulates that at least 30% of the average distributable profit over the last three years should be distributed if conditions are met[119]. - The company did not distribute cash dividends for the 2020 fiscal year due to operational losses, with profits carried forward to the next year[120]. Related Party Transactions and Governance - The total expected amount of related party transactions for 2020 is 194,900 million yuan, while the actual amount that occurred is 153,713.18 million yuan[154]. - The actual amount of related party transactions did not exceed the expected total amount during the reporting period[155]. - The company had no significant litigation or arbitration matters during the reporting period[140]. - There were no penalties or rectification situations reported for the company during the reporting period[141]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[130]. Audit and Compliance - The company has engaged Tianjian Accounting Firm for auditing services, with a fee of ¥3.32 million[136]. - The company has maintained a continuous audit service relationship with Tianjian Accounting Firm for 12 years[138]. - The company did not face any delisting situations or bankruptcy restructuring matters during the reporting period[139]. - The company has not experienced any significant accounting errors requiring retrospective restatement during the reporting period[132].

Financial Performance - Operating revenue for the period was CNY 1,497,040,730.02, a decrease of 20.36% year-on-year[9] - Net profit attributable to shareholders was a loss of CNY 642,081,130.60[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 648,022,641.58, representing a 515.68% increase in loss compared to the same period last year[9] - Basic and diluted earnings per share were both -CNY 0.45[9] - The weighted average return on net assets was -5.95%, down from -6.50% in the previous year[9] - The total revenue for the third quarter of 2020 was CNY 1,497,040,730.02, compared to CNY 1,879,647,891.07 in the same period last year, showing a decline of about 20.3%[62] - The net profit for the third quarter of 2020 was -¥851,847,488.86, a significant decline compared to a net profit of ¥121,075,310.92 in the same period last year, representing a year-over-year decrease of approximately 807%[82] - The total profit for the quarter was -¥786,332,611.08, compared to a profit of ¥187,741,728.47 in the previous year, indicating a decline of around 519%[82] Assets and Liabilities - Total assets increased by 2.42% to CNY 22,940,116,579.87 compared to the end of the previous year[9] - Net assets attributable to shareholders decreased by 4.89% to CNY 10,514,471,092.59[9] - The total liabilities rose to ¥11,040,309,360.95 from ¥10,121,405,158.43, indicating an increase of about 9.1%[50] - The company's total current assets amounted to CNY 6,767,320,388.59, up from CNY 5,526,077,459.03, indicating a year-over-year increase of about 22.5%[57] - The total liabilities increased to CNY 6,575,681,233.94 from CNY 5,333,170,603.32, reflecting a rise of approximately 23.3%[60] - The company's total assets increased to ¥22,940,116,579.87 from ¥22,398,640,520.40, marking a growth of approximately 2.4%[52] - The company's total equity attributable to shareholders decreased to ¥10,514,471,092.59 from ¥11,054,534,287.76, a decline of approximately 4.9%[52] Cash Flow - Cash flow from operating activities decreased by 53.38% to CNY 295,587,781.75 year-to-date[9] - Cash inflow from operating activities was 4,462,239,460.73, compared to 4,905,403,475.89 in the previous period, reflecting a decrease of 9.0%[95] - Cash outflow from operating activities totaled 4,166,651,678.98, a slight decrease from 4,271,351,217.25 in the prior period[95] - Cash inflow from investment activities totaled 1,067,928,824.88, down 37.0% from 1,691,402,359.56 in the prior period[98] - The net increase in cash and cash equivalents for the period was 314,268,682.92, contrasting with a decrease of 814,286,367.58 in the prior period[98] Investments and Income - Investment income surged by 198.45% to ¥612,137,446.33, driven by increased fund distribution income and performance rewards[24] - The company reported a significant increase in financial liabilities, with short-term borrowings rising to CNY 1,369,000,000.00 from CNY 40,000,000.00, a dramatic increase of over 3322.5%[60] - The company reported a net profit from investments of CNY 277,499,838.28, significantly higher than CNY 13,028,631.67 in the previous year, marking an increase of over 2000%[65] - The company incurred a loss of ¥416,650,842.29 in asset impairment losses, compared to a loss of ¥38,075,297.39 in the previous year, indicating a deterioration in asset quality[82] Shareholder Information - The top shareholder, Hunan Broadcasting Network Group, holds 16.66% of the shares, totaling 236,141,980 shares[13] - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[39] - The company has no significant external guarantees during the reporting period[38] Other Financial Metrics - The company reported a significant increase in other comprehensive income, which rose to ¥1,041,477,220.93 from ¥650,972,651.93, representing a growth of about 59.9%[52] - The company incurred management expenses of CNY 742,842,948.68, slightly down from CNY 762,693,335.23 in the previous period[79] - The research and development expenses for the current period are CNY 58,391,598.91, compared to CNY 55,284,293.80 in the previous period, reflecting an increase[79] - The company reported a tax expense of CNY 61,157,112.94 for the current period, with no tax expense reported in the previous period[75]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥2,457,668,744.68, a decrease of 15.40% compared to ¥2,905,194,999.92 in the same period last year[23] - The net profit attributable to shareholders of the listed company was -¥267,223,288.50, compared to a profit of ¥11,173,745.27 in the previous year[23] - The net cash flow from operating activities was ¥8,352,038.05, down 79.04% from ¥39,841,785.32 in the same period last year[23] - The total assets at the end of the reporting period were ¥22,175,049,374.26, a decrease of 1.00% from ¥22,398,640,520.40 at the end of the previous year[23] - The net assets attributable to shareholders of the listed company were ¥10,782,664,831.22, down 2.46% from ¥11,054,534,287.76 at the end of the previous year[23] - The weighted average return on net assets was -2.45%, a decrease of 2.56% compared to 0.11% in the previous year[23] - The company reported a gross margin of 1.73% for the advertising agency operation segment, down from 7.73% year-on-year[59] - The company’s financial expenses decreased by 20.61% to CNY 146.90 million compared to CNY 185.03 million in the previous year[51] - The net increase in cash and cash equivalents was ¥-71,580,086.39, an improvement of 88.37% compared to ¥-615,364,090.88 in the previous year[55] - The company has maintained a 100% loan repayment rate and interest payment rate, indicating strong financial health[189] - The company’s bond credit rating remains at AA+ with a stable outlook, consistent with previous ratings[182] Impact of COVID-19 - The impact of the COVID-19 pandemic has significantly affected the company's performance in cultural tourism, advertising agency, and cable network businesses[6] - The net profit attributable to shareholders was a loss of CNY 267 million, reflecting the severe impact of the COVID-19 pandemic on operations[43] - The cable network business reported operating revenue of CNY 750 million, with a net loss of CNY 195 million, indicating a worsening loss situation[43] - The tourism business, including World Window and Saint Jorff Hotel, generated revenue of CNY 33.07 million and CNY 47.98 million respectively, both reporting net losses of approximately CNY 954,000 and CNY 955,000[45] - The company has initiated various marketing activities and product innovations to adapt to the pandemic, including online events and themed marketing campaigns[48] Strategic Initiatives - The company plans to participate in the establishment of China Broadcasting Network Co., Ltd. to actively engage in the integration of national cable television networks[6] - The company plans to focus on the cultural tourism business, integrating Hunan Broadcasting's content IP resources to create new growth points[34] - The company has established a strategic partnership with Huawei to accelerate the research and application of 5G products, leveraging its position as a key laboratory for 5G high-definition video applications[38] - The company plans to participate in the national cable television network integration, which is expected to positively impact the cable network business and industry structure adjustment[43] Investment and Subsidiaries - The company completed 24 investment projects in the first half of 2020, with 7 IPO approvals, ranking among the top in the industry[49] - The company’s investment business, managed by Dacheng Venture Capital and Dacheng Finance, has a total fund size of 30 billion CNY, with over 500 invested companies, of which more than 90 have gone public[34] - The total assets of the subsidiary, Shenzhen Dacheng Venture Capital Co., Ltd., amounted to 154,264.67 million yuan, with a net profit of 9.64 million yuan[75] - The total assets of the subsidiary, Shenzhen Dacheng Caizhi Venture Capital Management Co., Ltd., were 160,157.07 million yuan, with a net profit of 14.01 million yuan[75] Related Transactions - The company reported a total of 3,737,650 RMB in related transactions with Hunan Golden Eagle Cartoon Co., Ltd.[95] - Hunan Happy Sunshine Interactive Entertainment Co., Ltd. had related transactions amounting to 26,261,400 RMB, representing 6% of similar transactions[95] - The company engaged in related transactions with Hunan Xihu Film Media Co., Ltd. totaling 1,500,000 RMB[98] - The company reported a management fee of 1,629.17 million RMB from related party transactions, indicating a strong reliance on these services[104] Shareholder Information - The largest shareholder, Hunan Broadcasting Network Holding Group, holds 16.66% of the shares, totaling 236,141,980[150] - The top shareholder, Cheng Yan, holds 15,361,000 shares, representing a significant stake in the company[155] - The second-largest shareholder, Peng Weiyan, owns 11,618,835 shares, indicating strong support from individual investors[155] - There were no changes in the controlling shareholder or actual controller during the reporting period, ensuring stability in ownership[157] Debt and Guarantees - The company has approved external guarantees totaling ¥174 million, with an actual guarantee balance of ¥67.18 million at the end of the reporting period, representing 6.23% of the company's net assets[122] - The company has provided guarantees to subsidiaries amounting to ¥70 million, with an actual guarantee balance of ¥55.18 million at the end of the reporting period[122] - The company has a total of ¥55.18 million in guarantees that exceed 50% of its net assets, with no guarantees provided to shareholders or related parties[125] Management and Governance - The chairman of the company resigned in April 2020, but this change is not expected to significantly impact the company's operations or debt repayment capacity[196] - The company appointed a new secretary to the board on June 10, 2020, following the resignation of the previous secretary[172] - The company has not reported any mergers or acquisitions during the reporting period, focusing on organic growth strategies[171]