厦门安妮股份有限公司 2020 年第一季度报告全文 厦门安妮股份有限公司 2020 年第一季度报告 2020 年 04 月 1 厦门安妮股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人张杰、主管会计工作负责人张杰及会计机构负责人(会计主管人 员)许志强声明：保证季度报告中财务报表的真实、准确、完整。 2 厦门安妮股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 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） | 80,489,613.85 | 109,921,294.29 | -26.78% | | 归属于上市公司股东的净利润（元） | -4,095,795.50 | 99,520,927.44 | - ...

Financial Performance - Operating revenue for the reporting period was ¥87,131,679.53, down 32.97% year-on-year, and cumulative revenue for the year-to-date was ¥284,663,701.08, down 39.51%[8] - Net profit attributable to shareholders was -¥13,246,146.73, a decrease of 177.86% year-on-year, while year-to-date net profit was ¥87,012,878.68, an increase of 30.05%[8] - Basic earnings per share for the reporting period were -¥0.0218, a decrease of 179.85% year-on-year, while year-to-date basic earnings per share were ¥0.1431, an increase of 33.49%[8] - Net profit for the reporting period decreased by 179.69% year-on-year, primarily due to a decrease in operating income[16] - The total profit for the period was ¥86,268,343.80, compared to ¥68,612,642.69 in the previous period, marking a 25.7% increase[54] - The total comprehensive income for Q3 2019 was -¥13,210,059.34, compared to -¥3,320,600.83 in Q3 2018[47] - The company reported a significant increase in investment income to ¥16,102,477.02, compared to ¥20,333,543.82 in the previous period[52] Cash Flow - The net cash flow from operating activities was ¥2,870,495.91, an increase of 132.78% compared to the same period last year[8] - Cash flow from operating activities increased by 115.55% year-on-year, mainly due to the company's control over inventory and reduced procurement expenses[20] - Cash inflows from operating activities totaled CNY 319,293,983.98, down 24.6% from CNY 423,301,010.03 in the previous period[61] - Cash outflows from operating activities decreased to CNY 293,309,663.65 from CNY 590,401,074.66, reflecting improved cash management[62] - The net cash flow from investing activities was CNY -17,239,631.86, an improvement from CNY -61,124,432.14 in the previous period[63] - The net cash flow from financing activities was CNY 30,215,397.74, down from CNY 64,097,267.43 in the previous period[63] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,461,210,354.16, a decrease of 2.40% compared to the end of the previous year[8] - Total current assets decreased to CNY 1,245,408,473.50 from CNY 1,259,771,677.52, a decline of approximately 1.1%[36] - Total liabilities increased to CNY 365,410,774.67 from CNY 335,425,193.86, reflecting a growth of approximately 8.5%[37] - The company's total equity decreased to CNY 2,095,799,579.49 from CNY 2,186,433,779.78, a decline of approximately 4.1%[38] - The company's total liabilities increased to ¥302,891,026.68 from ¥207,764,828.20, representing a rise of 45.7%[43] Shareholder Information - The company had a total of 59,054 common shareholders at the end of the reporting period[12] - The largest shareholder, Lin Xuxi, held 14.50% of the shares, amounting to 86,669,683 shares[12] - There were no repurchase transactions conducted by the top 10 shareholders during the reporting period[13] - The company completed the repurchase and cancellation of 25,105,572 shares as part of the performance compensation obligation[17] - The company plans to repurchase 12,195,924 shares at a price of 1 yuan each to fulfill performance compensation obligations[19] Research and Development - Research and development expenses increased by 234.50% year-on-year, mainly due to differences in the progress of R&D project investments[16] - Research and development expenses for Q3 2019 were ¥5,440,143.38, slightly up from ¥5,248,596.84 in Q3 2018[45] - Research and development expenses increased significantly to ¥17,556,583.57, up 234.5% from ¥5,248,596.84 in the previous period[52] Other Financial Information - Non-operating income included a gain from the disposal of non-current assets amounting to ¥6,959,077.14 and government subsidies of ¥497,439.29[9] - Financial expenses increased by 258.52% year-on-year, and by 1794.72% from the beginning of the year to the end of the reporting period, mainly due to an increase in the company's financing scale[16] - The company reported a net loss of CNY 91,335,165.30 compared to a loss of CNY 298,489,381.22 in the previous period, indicating an improvement in financial performance[38] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[29] - The company has no violations regarding external guarantees during the reporting period[28]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥197,532,021.55, a decrease of 42% compared to the same period last year[17]. - The net profit attributable to shareholders increased by 100.95% to ¥100,259,025.41, while the net profit excluding non-recurring gains and losses decreased by 116.67% to -¥4,868,943.64[17]. - Basic and diluted earnings per share rose by 104.63% to ¥0.1637[17]. - The company's total revenue for the reporting period was RMB 197,532,021.55, a decrease of 42.00% compared to RMB 340,582,959.61 in the same period last year, primarily due to the suspension of game license approvals[37]. - Operating costs decreased by 46.45% to RMB 133,667,837.02 from RMB 249,610,861.21, reflecting the same challenges in the gaming sector[37]. - The company reported a net cash outflow from investment activities of RMB -65,364,210.35, a significant decrease of 198.04% compared to the previous year's inflow of RMB 66,672,855.61[37]. - The company reported a net loss of CNY 78,089,018.56 for the period, an improvement from a loss of CNY 298,489,381.22 in the previous period[144]. - The company reported a total revenue of 9.67 billion, reflecting a year-over-year growth of 25.3%[71]. - The company reported a total revenue of 5.2 billion, representing a year-over-year increase of 8%[80]. - The company reported a total revenue of 4.15 billion in the first half of 2019, representing a year-over-year increase of 5.9%[172]. Cash Flow and Investments - The net cash flow from operating activities improved by 114.60% to ¥23,113,824.42, primarily due to inventory control and reduced procurement expenses[19]. - Cash and cash equivalents amounted to ¥170,101,362.66, representing a decrease of 3.69% compared to the previous period[48]. - The company reported a significant cash outflow of $750,000 for the acquisition of fixed assets and intangible assets[164]. - The cash flow from investment activities showed a substantial negative trend compared to the previous period, with a decrease of approximately 90% in net cash flow[165]. - The total amount of funds raised and utilized is applicable, with detailed usage to be provided in subsequent reports[64]. - The company reported a total of CNY 12 million in raised funds for the year[72]. - The company reported a total cash outflow from investment activities amounted to $75,167,000, with a net cash flow from investment activities of -$67,560,056.74[165]. Strategic Initiatives and Market Expansion - The company plans to continue using idle funds for short-term financial products, maintaining a focus on high safety and liquidity[67]. - The company is actively collaborating with institutions like Beijing Printing Institute to promote blockchain applications in the publishing industry[34]. - The company aims to cover the entire digital content industry chain, including self-media, early childhood education, and derivative product development[27]. - The company is planning to expand its market presence in Asia, targeting a 15% increase in market share by the end of the next fiscal year[71]. - The company is focusing on enhancing its digital subscription services, aiming for a 30% increase in subscriber base by the end of the year[71]. - The company is expanding its market presence in Southeast Asia, targeting a revenue increase of 30% from this region by the end of 2019[179]. - The company is exploring potential mergers and acquisitions to strengthen its market position[171]. Research and Development - Research and development investment increased significantly by 303.48% to RMB 12,116,440.19, compared to RMB 3,002,985.03 in the previous year, due to differences in project scheduling[37]. - The company has allocated 100 million RMB for R&D in new technologies, focusing on enhancing product features and user experience[180]. - Research and development expenses increased by 10% to support innovation in new technologies[80]. - Research and development expenses increased by 15%, highlighting the company's commitment to innovation and technology advancement[170]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total amount of special reserves at the end of the period was ¥623,964,810.00[175]. - The company has completed the repurchase of 25,105,572 shares due to the failure of Changyuan Guoxun to meet its performance commitments for 2017, with a total compensation obligation of 28,836,603 shares[113][119]. - The total number of shares after the recent changes is 601,276,238, with a decrease of 22,688,572 shares from the previous total[119]. - The company’s stockholder structure includes significant stakes held by various investment funds and individuals, indicating a diverse ownership base[126]. Risk Management and Compliance - The company has a risk of goodwill impairment if the performance of acquired subsidiaries does not meet expectations[83]. - The company has taken measures to enhance post-merger management and resource integration to mitigate risks associated with goodwill[83]. - The company has not engaged in any significant related party transactions during the reporting period[99]. - The company has not faced any penalties or corrective actions during the reporting period[95]. - The company has not reported any significant changes in the scope of consolidation for the financial statements[196]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion[71]. - The company has set a performance guidance of 10% growth in operating income for the upcoming quarter[71]. - The company aims to ensure sufficient liquidity by utilizing the idle funds for working capital needs[2]. - The company has set a performance guidance for the next quarter, expecting a revenue growth of approximately 5%[167]. - The company has outlined a future outlook with a revenue guidance of 1,800,000,000.00 for the next quarter, indicating a projected growth of 12.4%[181].

Financial Performance - The company reported a net profit of 92.30 million RMB for 2018, which is an increase from 61.56 million RMB in 2017, achieving approximately 50% growth year-over-year[10]. - The company's operating revenue for 2018 was ¥714,872,486.11, representing an increase of 8.57% compared to ¥658,420,472.76 in 2017[22]. - The net profit attributable to shareholders for 2018 was ¥75,525,209.45, a significant increase of 120.69% from a loss of ¥365,071,834.92 in 2017[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥13,564,916.22, up 103.30% from a loss of ¥411,132,588.76 in 2017[22]. - The basic and diluted earnings per share for 2018 were both ¥0.1211, reflecting a 120.61% increase from -¥0.5875 in 2017[22]. - The company reported a significant increase in revenue from copyright trading and value-added services, which rose by 85.71% year-on-year to approximately ¥106.28 million[64]. - The company's total revenue for 2018 was approximately ¥714.87 million, representing an 8.57% increase compared to ¥658.42 million in 2017[58]. Investment and Capital Allocation - The company plans to invest in the "Copyright Big Data Platform Construction Project," which is expected to enhance its core copyright business despite potential risks associated with project implementation[5]. - The company invested ¥98 million in joint film productions and ¥38.89 million in the copyright big data platform during the reporting period[23]. - The company has committed to a profit target of 76 million RMB for 2016, 100 million RMB for 2017, and 130 million RMB for 2018 for its subsidiary Changyuan Guoxun, with actual results of 61.56 million RMB in 2017 and 92.30 million RMB in 2018[10]. - The company has established a commitment to reduce and avoid related transactions, ensuring fair operation and compliance with legal regulations[129]. - The company has made significant equity investments totaling 111,864,100.00 CNY in various companies during the reporting period[89]. Risk Management - The goodwill from acquisitions as of December 31, 2018, was valued at 743.66 million RMB, indicating potential risks if the performance of acquired subsidiaries does not meet expectations[8]. - The company emphasizes the importance of internal risk control mechanisms to reduce investment errors during the fundraising process[6]. - The company aims to strengthen partnerships with telecom operators and internet platforms to mitigate risks associated with unstable collaborations[7]. - The company is cautious in its funding allocation for the copyright big data platform due to market awareness and habit formation challenges[97]. Shareholder and Dividend Policy - The company will not distribute cash dividends or issue bonus shares for the reporting period, focusing on reinvestment strategies[11]. - The company did not distribute cash dividends in 2018, 2017, or 2016, with retained earnings carried forward to the next year[124]. - The company has committed to distributing no less than 30% of its average annual distributable profits over the last three years in cash[133]. - The company has established a performance commitment related to share lock-up periods, with 15% of shares locked for 12 months and 5% for 24 months, ensuring compliance with profit commitments made in 2016[127]. Technological Development - The company plans to leverage technologies such as blockchain, big data, cloud computing, and artificial intelligence to enhance copyright management and operations[107]. - The application of big data, artificial intelligence, and blockchain technology has significantly improved the speed of copyright content creation and distribution[35]. - The company has applied for multiple patents related to blockchain technology, enhancing its competitive edge in the copyright sector[39]. - The company is increasing investment in blockchain and other technological innovations to enhance the user experience of its copyright service platform[109]. Corporate Governance - The company has committed to not producing or developing any products that compete with its subsidiaries since the signing of the commitment letter in 2007, and this commitment is being strictly adhered to[127]. - The company guarantees that it will not occupy the funds of the listed company or require it to provide guarantees for other enterprises controlled by its shareholders, ensuring financial integrity[129]. - The company has established a long-term commitment to avoid any actions that may harm the interests of the listed company and its shareholders, ensuring corporate governance[129]. - The company has not encountered any issues regarding the use and disclosure of raised funds during the reporting period[100]. Market Position and Strategy - The company operates primarily in copyright services and business information paper services, focusing on copyright protection and digital content growth[31]. - The company has established a comprehensive copyright service platform, "Copyright Home," providing services such as copyright registration, monitoring, and legal protection[40]. - The company aims to expand into various fields, including self-media original content, children's education, and art copyright, covering the entire digital content industry chain[40]. - The company has formed stable long-term partnerships with major clients, leveraging new technologies to upgrade its label business[42]. Legal and Compliance Issues - The company is involved in a lawsuit with a claim amount of 9.15 million yuan, of which 8.32 million yuan has been recovered through judicial means[154]. - Another ongoing case involves a claim of 1.44 million yuan, with 562,292.4 yuan recovered to date[154]. - A third case has a claim amount of 478,400 yuan, with 614,500 yuan recovered so far[154]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[148]. Employee and Incentive Plans - The company has implemented an employee stock option and restricted stock incentive plan, granting a total of 6 million rights, representing approximately 1.45% of the total share capital[157]. - The stock option plan includes 3.75 million options, accounting for about 0.91% of the total share capital[157]. - The restricted stock plan involves 2.25 million shares, which is about 0.54% of the total share capital[157]. - The total amount of related party transactions for the year was 403.57 million CNY, with a total approved transaction limit of 1,800 million CNY, indicating no exceeded limits[161].

Financial Performance - The company's operating revenue for Q1 2019 was ¥109,921,294.29, a decrease of 43.59% compared to the same period last year[7]. - Net profit attributable to shareholders increased by 279.37% to ¥99,520,927.44, while net profit excluding non-recurring gains and losses decreased by 98.61% to ¥243,807.92[7][15]. - Basic and diluted earnings per share rose by 159.52% to ¥0.1635[7]. - Net profit for Q1 2019 reached CNY 99.49 million, significantly up from CNY 26.30 million in Q1 2018, representing an increase of 277.5%[39]. - The company reported a total comprehensive income of ¥99,520,927.44 for the quarter, compared to ¥26,233,259.73 in the previous year, indicating a growth of 278%[43]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 134.59% to ¥19,639,925.87, compared to a negative cash flow in the same period last year[7][15]. - Net cash flow from operating activities for Q1 2019 was ¥34,883,796.92, a significant increase from ¥4,117,466.65 in Q1 2018, representing a growth of 748.5%[51]. - The company reported a total cash and cash equivalents balance of ¥65,138,456.65 at the end of Q1 2019, down from ¥116,616,067.20 at the end of Q1 2018, a decrease of 44.2%[52]. - Cash and cash equivalents decreased to CNY 65.14 million from CNY 66.31 million, a decline of 1.8%[33]. - The company’s cash flow from investment activities was negative at -¥24,115,000.00 for Q1 2019, compared to -¥15,563,588.00 in Q1 2018[51]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,478,101,229.96, a decrease of 1.74% from the end of the previous year[7]. - Total liabilities as of March 31, 2019, were 339.90 million RMB, compared to 335.43 million RMB at the end of 2018[30]. - The company's equity decreased from 623.96 million RMB at the end of 2018 to 601.28 million RMB as of March 31, 2019[30]. - Total assets as of March 31, 2019, were CNY 2.37 billion, a decrease of 1.66% from CNY 2.41 billion at the end of 2018[36]. - The equity attributable to shareholders of the parent company was ¥2,186,643,871.73, reflecting a decrease in undistributed profits to -¥298,489,381.22[56]. Shareholder Information - The company had a total of 42,792 common shareholders at the end of the reporting period[11]. - The top shareholder, Lin Xuxi, held 14.41% of the shares, amounting to 86,669,683 shares[11]. Operational Efficiency - The decline in operating revenue was attributed to reduced income from the game distribution business due to market and policy impacts[15]. - The company's cash flow from operating activities showed a strong recovery, indicating improved operational efficiency and cash generation capabilities[51]. - The company incurred operating costs of ¥10,032,535.68, down from ¥11,781,544.07 in the previous period, reflecting a decrease of approximately 15%[42]. Investment Activities - The company reported an investment income of CNY 2.51 million, down 70.3% from CNY 8.47 million in Q1 2018[37]. - The company invested ¥24,000,000.00 in cash for investment activities in Q1 2019, compared to ¥16,350,000.00 in Q1 2018, indicating a year-over-year increase of 46.5%[51]. - The company’s total cash outflow from investing activities was ¥24,404,297.00, compared to ¥16,499,265.01 in the previous period, indicating an increase in investment spending[48]. Compliance and Standards - The report for the first quarter was not audited[59]. - The company implemented new financial standards starting January 1, 2019, affecting retained earnings and other comprehensive income[58].

Financial Performance - The company reported a net profit of 92.30 million RMB for 2018, which is an increase from 61.56 million RMB in 2017, achieving approximately 50% growth year-over-year[10]. - The company's operating revenue for 2018 was ¥714,872,486.11, representing an increase of 8.57% compared to ¥658,420,472.76 in 2017[22]. - The net profit attributable to shareholders for 2018 was ¥75,525,209.45, a significant increase of 120.69% from a loss of ¥365,071,834.92 in 2017[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥13,564,916.22, up 103.30% from a loss of ¥411,132,588.76 in 2017[22]. - The basic and diluted earnings per share for 2018 were both ¥0.1211, reflecting a 120.61% increase from -¥0.5875 in 2017[22]. - The company reported a total revenue of 1,186.4 million yuan for the year 2018, with a growth rate of 3.76% compared to the previous year[90]. - The company reported a significant increase in copyright technology and protection revenue, which rose by 118.53% to approximately ¥29.62 million[64]. - The film business revenue reached approximately ¥129.08 million, reflecting a 100% increase compared to the previous year[64]. - The company reported a significant increase in annual revenue for 2018, reaching a total of 1.2 billion RMB, representing a 15% year-over-year growth[129]. Investment and Financial Strategy - The company will not distribute cash dividends or issue bonus shares for the year, focusing on reinvestment strategies instead[11]. - The company has committed to achieving net profits of 76 million RMB, 100 million RMB, and 130 million RMB for the years 2016, 2017, and 2018 respectively, with the 2018 target being partially met[10]. - The company has raised funds amounting to 180 million yuan, with the usage of these funds being applicable[91]. - The total amount of funds raised was approximately CNY 999.99 million, with a net amount of CNY 976.65 million after deducting fees[94]. - The company plans to continue using idle raised funds for short-term bank wealth management products and structured deposits, with a maximum of CNY 70 million allocated for such investments[94]. - The company’s financial strategy includes investing in short-term financial products to enhance liquidity while maintaining safety and capital preservation[99]. - The company has approved the use of raised funds for purchasing bank financial products, ensuring high liquidity and capital preservation within one year[99]. - The company’s board has convened multiple times to discuss the utilization of raised funds, reflecting a proactive approach to financial governance[99]. Risk Management - The goodwill remaining from acquisitions as of December 31, 2018, is valued at 743.66 million RMB, indicating potential risks if subsidiary performance does not meet expectations[8]. - The company emphasizes the importance of internal risk control mechanisms to reduce investment errors during the implementation of fundraising projects[6]. - The company acknowledges the uncertainty in achieving forward-looking statements due to market conditions and operational realities[4]. - The company faces risks related to the underperformance of its copyright business, with ongoing investments in the copyright big data platform project[114]. - The company aims to strengthen partnerships with telecom operators and internet platforms to mitigate risks associated with unstable collaborations[7]. Market Expansion and Product Development - The company plans to invest in the "Copyright Big Data Platform Construction Project," which is expected to enhance its core copyright business despite existing risks[5]. - The company aims to expand its services in various fields, including self-media original content, early childhood education, and literary reading[40]. - The company has developed a blockchain-based copyright platform that enhances legal effectiveness through partnerships with credible institutions[38]. - The company is exploring potential mergers and acquisitions to strengthen its market position[9]. - The company plans to enter the European market by Q1 2024, targeting a revenue contribution of $300 million in the first year[27]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2019[131]. - The company is investing $200 million in R&D for new technologies aimed at enhancing user experience[27]. - The company completed a strategic acquisition of a tech startup for $50 million to bolster its product offerings[27]. Operational Efficiency and Cost Management - The company has established a stable copyright service management team but recognizes the need to further enhance its talent pool to meet strategic goals[11]. - The company continues to maintain stable profitability in its business information paper segment, with customized products showing steady sales growth[55]. - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in costs[129]. - Cost reduction strategies are projected to save $10 million annually, improving overall profitability[130]. - The company aims to reduce operational costs by 5% in 2019 through efficiency improvements and process optimization[131]. Shareholder and Governance Matters - The company has not distributed cash dividends in the last three years, with a profit distribution plan indicating no cash dividends for 2018[125]. - The company’s board approved the use of CNY 12 million of idle raised funds for temporary working capital, effective for up to 12 months[94]. - The company’s shareholders and counterparties made commitments regarding the operating performance during the reporting year[135]. - The company has committed to a profit distribution of no less than 30% of the average annual distributable profit over the last three years, starting from June 6, 2017[134]. - The company has established a comprehensive training system for employee development, achieving a 100% labor contract signing rate[181].

Financial Performance - The company achieved a net profit of 61.56 million RMB in 2017, falling short of the performance commitment of 100 million RMB for that year[9]. - The company's operating revenue for 2017 was ¥658,420,472.76, representing a 52.93% increase compared to ¥430,550,980.22 in 2016[26]. - The net profit attributable to shareholders was -¥365,071,834.92, a decrease of 3,231.10% from ¥11,659,531.44 in 2016[26]. - The net cash flow from operating activities decreased by 129.93% to -¥22,309,892.36, down from ¥74,531,562.84 in the previous year[26]. - The basic and diluted earnings per share were both -¥0.8812, a decline of 2,507.65% from ¥0.0366 in 2016[26]. - Total assets at the end of 2017 were ¥2,495,861,011.91, a decrease of 6.82% from ¥2,678,409,732.23 at the end of 2016[27]. - The net assets attributable to shareholders decreased by 6.58% to ¥2,217,695,298.47 from ¥2,373,922,960.03 in 2016[27]. - The company recognized an asset impairment provision of ¥398,474,700, including goodwill impairment of ¥362,647,600 related to subsidiaries[28]. - The fourth quarter operating revenue was ¥221,325,333.03, with a significant drop in net profit attributable to shareholders at -¥428,276,313.08[32]. Business Operations and Strategy - The company focuses on copyright services, internet marketing services, and business information paper services, aiming to become a leader in China's copyright service industry[38]. - The company has made substantial progress in its copyright business, which is considered a core area, but it still faces risks related to the stability of partnerships with telecom operators and internet platforms[7]. - The company is actively working to mitigate risks associated with its copyright business and is focused on building win-win relationships with partners[7]. - The company has established a stable copyright service management team and is focused on expanding its talent pool to meet strategic goals[12]. - The company aims to integrate blockchain technology with copyright services to provide low-cost and efficient copyright storage for a large number of works[48]. - The company has established multiple copyright service platforms, including "Copyright Home," which has become a demonstration application platform for the DCI copyright protection system[49]. - The company has formed strategic partnerships with the China Copyright Protection Center and other organizations to strengthen its copyright protection efforts[48]. - The company is leveraging AI and big data technologies to optimize copyright services and enhance operational efficiency[38]. Investments and Acquisitions - The company invested an additional ¥38,814,200 in the copyright big data platform construction compared to the previous year[28]. - The company has invested in establishing subsidiaries, including Xiamen Banjia Technology Co., Ltd., to expand its market presence[46]. - The company has made a significant equity investment of CNY 1,000,000 in Xiamen Family Technology Co., holding a 100% stake, focusing on copyright registration services[90]. - An investment of CNY 1,350,000 was made in Qingyun Ju Pai Network Technology Co., acquiring a 45% stake, aimed at intellectual property transactions[90]. - The company has established a commitment to avoid any direct or indirect competition with its subsidiaries during the holding period of shares[135]. Shareholder and Governance - The company has not experienced any changes in its controlling shareholder since its listing, maintaining stability in its ownership structure[24]. - The company has committed to not producing or developing any products that compete with its subsidiaries since June 30, 2007, and is strictly adhering to this commitment[130]. - The company has signed agreements for performance compensation and share repurchase arrangements, ensuring strict adherence to these commitments since December 27, 2015[132]. - The company guarantees to avoid any direct or indirect competition with its subsidiaries and will not invest in competing businesses, with ongoing compliance[132]. - The company has committed to reducing and avoiding related party transactions, ensuring fair market practices and compliance with legal regulations[132]. Market Trends and Industry Insights - In 2017, China's software copyright registration exceeded 700,000, marking an 85% year-on-year growth, indicating a booming copyright industry[42]. - The digital publishing industry in China generated revenues of 572 billion yuan in 2016, maintaining an annual growth rate of nearly 30%[43]. - The increasing focus on intellectual property rights by the government is expected to further boost the growth of the copyright industry[43]. - The user base for online literature reached 330 million in 2016, with a stable growth rate of 12.3%, indicating a solid market for copyright-related services[44]. Compliance and Legal Matters - The company has not reported any non-operating fund occupation by its controlling shareholders or related parties during the reporting period[142]. - The company is involved in several ongoing litigation cases, with a total amount of 915.12 million RMB at stake, and has successfully recovered some funds through judicial means[147]. - The company has not engaged in any illegal activities such as bribery or smuggling, ensuring compliance with laws and regulations[170]. - The company has established a system for managing insider information and has maintained communication with investors throughout 2017[169]. Social Responsibility and Community Engagement - The company emphasizes its commitment to social responsibility, including environmental protection and community development[168]. - The company has a strong focus on environmental protection, optimizing energy-saving facilities and managing energy consumption effectively[171]. - The company has not initiated any targeted poverty alleviation programs in the reporting year and has no plans for such initiatives[173].

Financial Performance - Operating revenue for the reporting period was ¥129,981,373.04, a decrease of 13.94% year-on-year, while year-to-date revenue increased by 7.66% to ¥470,564,332.65[7] - Net profit attributable to shareholders was ¥17,013,472.09, down 33.22% year-on-year, with year-to-date net profit increasing by 5.86% to ¥66,906,839.39[7] - Basic earnings per share for the reporting period were ¥0.0273, a decrease of 33.58% year-on-year, while year-to-date earnings per share increased by 5.10% to ¥0.1072[7] - Total profit decreased by 31.14% compared to the same period last year, mainly due to a decrease in operating income[15] - Net profit decreased by 34.59% compared to the same period last year, primarily due to a decrease in operating income[15] - Basic and diluted earnings per share decreased by 33.58% compared to the same period last year, mainly due to a decrease in operating income[15] Cash Flow and Assets - The net cash flow from operating activities was -¥8,756,266.25, a significant decline of 3,607.96% compared to the previous year[7] - Cash flow from operating activities decreased by 100.63% compared to the same period last year, mainly due to a decrease in cash received from sales of goods and services[20] - Cash flow from financing activities increased by 365.97% compared to the same period last year, primarily due to increased borrowings[20] - Cash and cash equivalents decreased by 52.90% compared to the beginning of the year, primarily due to new equity investments made during the year[15] - Accounts receivable increased by 69.50% compared to the beginning of the year, mainly due to increased receivables from lottery business and Changyuan Guoxun[15] - Prepayments increased by 449.38% compared to the beginning of the year, primarily due to increased investments in film and television projects[15] - Total assets at the end of the reporting period reached ¥2,540,139,507.37, an increase of 1.77% compared to the end of the previous year[7] Shareholder Information - The total number of shareholders at the end of the reporting period was 58,951, with the top ten shareholders holding a combined 38.88% of the shares[11] - The largest shareholder, Lin Xuxi, held 16.14% of the shares, amounting to 100,723,258 shares[11] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[12] Investments and Joint Ventures - The company established a joint venture with Jiucifang Data Information Group with a registered capital of RMB 20 million, where Changyuan Guoxun holds 51%[19] - The company invested RMB 80 million in Jiucifang's C+ round financing, with a pre-investment valuation of RMB 750 million[19] - The company has invested 70.5 million yuan in bank wealth management products and 1 million yuan in securities firm wealth management products, totaling 71.5 million yuan in entrusted financial management[29] Future Projections and Commitments - The company expects to turn a profit in 2018, with a projected net profit of 130 million yuan, compared to a net loss of 365.07 million yuan in 2017[24] - The company anticipates a total project loss of approximately 35 million yuan for the year 2018 due to ongoing investment projects[24] - The company is coordinating with the original shareholders of Changyuan Guoxun to fulfill compensation obligations due to the failure to meet the 2017 profit commitment of 100 million yuan[21] Legal and Compliance Matters - As of the report date, the company has recovered 7.442 million yuan from a contract dispute, with 1.71 million yuan still outstanding[22] - The company has ongoing litigation cases, with a total of 1.294 million yuan in claims currently in the enforcement process[22] - The company has no overdue commitments from major shareholders or related parties during the reporting period[23] - There are no violations regarding external guarantees during the reporting period[26] Investor Relations - The company has conducted multiple investor communication activities, including phone calls and on-site visits, throughout the year[29] - The company’s subsidiary Changyuan Guoxun reported a net profit of 61.5571 million yuan for 2017, failing to meet the profit commitment[21]

Financial Performance - The company reported a net profit of 76 million RMB for the year 2016, with performance commitments of 100 million RMB for 2017 and 130 million RMB for 2018 from the acquisition of Changyuan Guoxun[7]. - The company's operating revenue for the reporting period was ¥340,582,959.61, representing a 19.06% increase compared to the same period last year[24]. - The net profit attributable to shareholders was ¥49,893,367.30, reflecting a growth of 32.25% year-on-year[24]. - The net profit after deducting non-recurring gains and losses was ¥29,206,898.24, which is a 21.33% increase from the previous year[24]. - Operating profit reached 50.88 million yuan, reflecting a growth of 51.48% year-on-year[39]. - The company reported a total of ¥20,686,469.06 in non-recurring gains and losses for the reporting period[28]. - The company achieved a revenue of 340.58 million yuan, an increase of 19.06% compared to the same period last year[39]. - The copyright service segment generated 195.79 million yuan, accounting for 57.49% of total revenue, with a year-on-year growth of 32.21%[47]. - The internet marketing service segment saw a revenue of 3.09 million yuan, representing a decline of 20.91% compared to the previous year[47]. - The business information paper segment contributed 139.47 million yuan, which is 40.95% of total revenue, with a growth of 5.55%[47]. Cash Flow and Investments - The net cash flow from operating activities decreased by 90.65%, amounting to -¥158,343,798.38, primarily due to an extended settlement cycle in the lottery business and increased investment in copyright operations[27]. - The cash flow from operating activities decreased by 90.65% due to longer settlement cycles in the lottery business and increased investments in copyright services[45]. - The total investment during the reporting period was ¥11,066,100.00, a significant decrease of 72.34% compared to the previous year[55]. - The company raised a total of ¥97,665 million through public offerings, with ¥2,144.48 million utilized during the reporting period[61]. - The total amount of raised funds used for investment reached ¥18,612.06 million, leaving a balance of ¥10,662.80 million in the dedicated account[63]. - The company reported a significant increase in operating costs for copyright services, which rose by 38.69% year-over-year[49]. - The company has committed to invest a total of 96,725.65 million CNY, with 2,144.48 million CNY invested during the reporting period, achieving an investment progress of 18,612.06 million CNY, which is 80.00% of the planned investment[66]. Goodwill and Risk Management - As of June 30, 2018, the remaining book value of goodwill from acquisitions was 741.11 million RMB, which poses a risk of impairment if subsidiary performance does not meet expectations[9]. - The company is actively monitoring the operational performance of its subsidiaries to mitigate risks associated with goodwill impairment and ensure sustainable development[9]. - The company is committed to enhancing its core competitiveness and improving the operational performance of Changyuan Guoxun to reduce goodwill impairment risks[9]. - The company acknowledges the uncertainty in achieving future plans due to market conditions and operational realities, urging investors to recognize associated risks[4]. - The company emphasizes the importance of post-investment management to reduce the risk of goodwill impairment and enhance the operational performance of acquired subsidiaries[80]. Strategic Partnerships and Business Focus - The company has established stable partnerships with telecom operators and internet platforms, which are essential for content distribution, but any instability in these relationships could impact future profitability[6]. - The company is focusing on copyright services, leveraging DCI digital copyright technology, big data, blockchain, and AI to enhance its service offerings[31]. - The company has established strategic partnerships with the National Copyright Protection Center and other organizations to enhance its copyright protection services[35]. - The company aims to expand its services into various fields, including self-media original content, early childhood education, literature reading, and art copyright[34]. - The company is focusing on expanding its copyright content reserves and has established partnerships with over 100 content aggregation platforms and channel partners[41]. Talent Management - The company emphasizes the importance of talent management to support its copyright business, aiming to strengthen its talent pool and reduce turnover risks[10]. - The company plans to strengthen its talent management strategies to enhance its copyright business and reduce the impact of talent turnover on operations[80]. Shareholder and Equity Information - The company does not plan to distribute cash dividends or issue bonus shares for the reporting period[12]. - The total number of shares increased from 415,976,540 to 623,964,810 due to a capital reserve conversion plan[122]. - The basic and diluted earnings per share for the last year are both 0.08 yuan after the share increase[122]. - The company did not distribute profits for the fiscal year 2017, opting to carry forward profits to the next year, while increasing total share capital from 415,976,540 to 623,964,810 shares through a capital reserve conversion[127]. Legal and Compliance Issues - The company has ongoing litigation with a total amount involved of 915.12 million yuan, with 744.2 million yuan already recovered through judicial means[96]. - The company is currently in the process of enforcing a judgment related to a contract dispute, with 171 million yuan still outstanding[96]. - The company has not reported any non-standard audit reports for the previous year[95]. - The half-year financial report has not been audited[94]. - The company has not reported any significant environmental protection issues during the period[117]. Future Outlook - The company has made significant progress in its copyright business during the reporting period, although it remains cautious about potential risks[5]. - The company plans to continue its market expansion and product development strategies in the upcoming quarters[173].

Financial Performance - The company reported a net profit of 76 million RMB for 2016, 100 million RMB for 2017, and is expected to achieve 130 million RMB for 2018 as part of the performance commitment from the acquisition of Changyuan Guoxun[7]. - The company's operating revenue for the reporting period was ¥340,582,959.61, representing a 19.06% increase compared to the same period last year[24]. - Net profit attributable to shareholders was ¥49,893,367.30, reflecting a growth of 32.25% year-on-year[24]. - Basic and diluted earnings per share increased by 73.91% to ¥0.0800[24]. - The company achieved a revenue of 340.58 million CNY, an increase of 19.06% compared to the same period last year[39]. - Operating profit reached 50.88 million CNY, reflecting a growth of 51.48% year-on-year[39]. - The copyright service segment generated 195.79 million CNY, accounting for 57.49% of total revenue, with a year-on-year growth of 32.21%[46]. - The internet marketing service segment saw a revenue of 3.09 million CNY, representing a decline of 20.91% compared to the previous year[46]. - The business information paper segment contributed 139.47 million CNY, which is 40.95% of total revenue, with a growth of 5.55% year-on-year[46]. - The company reported a total revenue of 915.12 million yuan for the first half of 2018, with a year-on-year increase of 30%[90]. Goodwill and Impairment - As of June 30, 2018, the remaining book value of goodwill from investments and acquisitions was 741.11 million RMB, which may be subject to impairment if subsidiary performance does not meet expectations[9]. - The company is actively monitoring the operational performance of its subsidiaries to mitigate risks associated with goodwill impairment[9]. - The company is committed to enhancing its core competitiveness and improving the operational performance of Changyuan Guoxun to reduce goodwill impairment risks[9]. - The remaining book value of goodwill from acquisitions as of June 30, 2018, is 74.11 million RMB, which may be subject to impairment if subsidiary performance does not meet expectations[79]. - The company is actively monitoring the performance of its subsidiary Changyuan Guoxun to ensure compliance with profit commitments and mitigate risks[78]. Investment and Capital Management - The company plans to invest in the "Copyright Big Data Platform Construction Project," which is considered a core business, but acknowledges risks related to the project's implementation and expected returns[4]. - The total investment during the reporting period was ¥11,066,100.00, a decrease of 72.34% compared to the previous year[54]. - The company raised a total of ¥976,649,996.47 from a private placement, with a net amount of ¥976,649,996.47 after expenses[62]. - The total amount of raised funds utilized during the reporting period was ¥2,144.48 million, with a cumulative usage of ¥18,612.06 million[60]. - The company committed a total investment of CNY 96,725.65 million, with CNY 2,144.48 million invested in the current reporting period, representing a progress rate of 2.21%[65]. - The company has cumulatively invested CNY 18,612.06 million, which is 19.24% of the total committed investment[65]. Cash Flow and Financial Health - The net cash flow from operating activities decreased by 90.65% to -¥158,343,798.38, primarily due to an increase in the settlement cycle of lottery business and higher investment in copyright business[26]. - The cash flow from operating activities showed a significant decline, with a net cash flow of -4,404,639.13 CNY compared to a positive 13,121,407.90 CNY in the previous period[164]. - The total cash outflow from operating activities was 478,382,384.89 CNY, compared to 365,233,349.71 CNY in the previous period, reflecting an increase of approximately 30.9%[160]. - The company's cash and cash equivalents decreased by 6.29% to ¥268,855,684.78, accounting for 10.51% of total assets[52]. - The company's cash and cash equivalents decreased from CNY 311,293,298.84 at the beginning of the period to CNY 268,855,684.78 at the end of the period, representing a decline of approximately 13.6%[144]. Shareholder and Equity Information - The company will not distribute cash dividends or issue bonus shares for the reporting period[12]. - The company has committed to distributing no less than 30% of the average distributable profit over the last three years in cash dividends, contingent on meeting cash flow requirements[91]. - The total number of shares increased from 415,976,540 to 623,964,810 due to a capital reserve conversion plan, with a distribution ratio of 5 shares for every 10 shares held[121]. - The basic and diluted earnings per share for the most recent year were both 0.08 yuan after the share increase[121]. - The total number of ordinary shareholders at the end of the reporting period was 62,766[128]. Legal and Compliance Matters - The company is currently involved in multiple legal disputes, with a total amount of 162.29 million yuan pending recovery from a sales contract dispute[96]. - The company has successfully recovered 7.442 million yuan from a legal dispute through enforcement of a judgment[95]. - The company has not engaged in any illegal external guarantees during the reporting period[114]. - The company has not undergone any bankruptcy restructuring during the reporting period[94]. - The company confirmed that there are no significant media controversies during the reporting period[97]. Strategic Partnerships and Business Focus - The company emphasizes the importance of maintaining stable partnerships with telecom operators and internet platforms to ensure future profitability[6]. - The company has established strategic partnerships with the National Copyright Protection Center and other organizations to enhance its copyright protection services[35]. - The company is focusing on copyright services, leveraging DCI digital copyright technology, big data, blockchain, and AI to enhance its service offerings[31]. - The company aims to expand its services into various fields, including self-media original content, early childhood education, literature reading, image copyright, and art copyright[34]. - The company is focusing on expanding its copyright content reserves through partnerships with over 100 telecom operators and internet platforms[41]. Employee and Management Information - The company has implemented an employee incentive plan, granting a total of 6 million rights, which accounts for approximately 1.45% of the total share capital of 41,373.65 million shares[99]. - The stock option plan includes the grant of 3.75 million stock options, representing about 0.91% of the total share capital[99]. - The restricted stock plan involves granting 2.25 million shares, which is approximately 0.54% of the total share capital[99]. - The company’s board of directors and senior management saw changes, including the appointment of a new deputy general manager and board secretary on May 16, 2018[137]. - The total shares held by directors and senior management increased from 69,576,747 to 104,349,145 during the reporting period, reflecting a rise of approximately 50%[136].