证券代码：002425 证券简称：凯撒文化 凯撒（中国）文化股份有限公司 投资者关系活动记录表 编号：2022-002 | --- | --- | --- | |----------------|---------------------------|------------------------------------------------------------------| | | | | | 投资者关系活动 | □特定对象调研 □分析师会议 | | | 类别 | □媒体采访 | □业绩说明会 | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | | 其他（投资者网上集体接待日活动） | | 参与人员 参与" | 2022 | 广东辖区上市公司投资者关系管理月活动——投资者集体接待 | | | 日"的投资者 | | | 时间 2022 | 年 9 月 22 | 日（周四） 15:50-16:50 | | 地点 | 全景•路演天下（ | https://rs.p5w.net/html/134597.shtml ） | | 上市公司接待 | | 董事长郑雅珊女士、总经理何啸威 ...

Financial Performance - The company's revenue for Q3 2022 was ¥149,667,035.01, a decrease of 32.73% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥26,516,706.35, representing a decline of 188.63% year-on-year[5]. - The basic earnings per share for the period was -¥0.0279, down 189.25% from the previous year[5]. - Total operating revenue for the period was CNY 516,117,727.58, a decrease of 25.5% compared to CNY 692,503,525.54 in the previous period[15]. - Net profit for the period was a loss of CNY 83,870,876.35, compared to a net profit of CNY 242,570,595.10 in the previous period[16]. - The company reported a basic and diluted earnings per share of -0.0789, down from 0.2618 in the previous period[17]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,739,597,439.72, a decrease of 1.41% from the end of the previous year[5]. - Total current assets as of September 30, 2022, amounted to CNY 1,385.12 million, down from CNY 1,530.38 million at the beginning of the year[12]. - Total assets as of September 30, 2022, were CNY 5,739.60 million, compared to CNY 5,821.77 million at the beginning of the year[13]. - Total current liabilities as of September 30, 2022, were CNY 542.45 million, an increase from CNY 516.36 million at the beginning of the year[13]. - Total liabilities as of September 30, 2022, were CNY 596.59 million, compared to CNY 573.86 million at the beginning of the year[13]. - The company’s total equity attributable to shareholders decreased by 1.91% to ¥4,934,401,828.04 compared to the end of the previous year[5]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥55,653,208.36, down 71.38% compared to the same period last year[5]. - Net cash inflow from operating activities was CNY 55.65 million, a decrease of 71.38% compared to the same period last year, primarily due to reduced business collections[9]. - Cash flow from operating activities generated a net amount of CNY 55,653,208.36, a decline of 71.5% from CNY 194,434,992.05 in the previous period[18]. - The company’s cash inflow from operating activities totaled CNY 531,799,741.79, down from CNY 684,492,549.19 in the previous period[18]. - Total cash inflow from financing activities was 279,980,708.39 CNY, down from 1,070,164,345.49 CNY, representing a decrease of about 74%[19]. - The ending balance of cash and cash equivalents was 166,341,036.41 CNY, down from 300,215,454.63 CNY, reflecting a decrease of approximately 44.6%[19]. Expenses and Losses - Sales expenses decreased by 47.30% year-on-year, mainly due to reduced advertising and production costs[8]. - The company experienced a 245.99% increase in credit impairment losses, reflecting higher provisions for bad debts on receivables[8]. - The company recorded a credit impairment loss of CNY 42,103,802.27, compared to CNY 12,169,145.65 in the previous period[16]. Government Support - The company received government subsidies amounting to ¥2,293,692.08 during the quarter, contributing to an 83.66% increase in other income year-on-year[8]. Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 90,772, with no preferred shareholders[10]. - The largest shareholder, Caesar Group (Hong Kong) Limited, holds 21.57% of the shares, totaling 206,329,097 shares[9]. - The company held 8,627,600 shares in its repurchase account, accounting for 0.90% of the total share capital[10]. Future Plans - The company plans to focus on new product development and market expansion strategies moving forward[15]. Audit Status - The company did not undergo an audit for the third quarter report[20].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥366,450,692.57, a decrease of 22.03% compared to ¥470,007,858.90 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was a loss of ¥48,603,232.95, representing a decline of 122.91% from a profit of ¥212,145,620.77 in the previous year[21]. - The net cash flow from operating activities was ¥48,375,584.37, down 74.03% from ¥186,245,151.52 in the same period last year[21]. - The basic earnings per share were -¥0.0510, a decrease of 121.85% compared to ¥0.2334 in the previous year[21]. - The company reported a total revenue of 87,067 million CNY for the first half of 2022, with a net profit of 1,941.8 million CNY[70]. - The company reported a net profit for the first half of 2022 was a loss of ¥83,659,120.30, compared to a profit of ¥190,560,720.76 in the same period of 2021, indicating a substantial decline in profitability[162]. - The company reported a significant investment loss of ¥44,604,022.42 in the first half of 2022, contrasting with a gain of ¥182,083,445.85 in the same period of 2021[162]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,820,420,748.82, a slight decrease of 0.02% from ¥5,821,766,241.64 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were ¥4,973,980,356.73, down 1.12% from ¥5,030,297,769.74 at the end of the previous year[21]. - The company's total liabilities were CNY 635,337,438.18, up from CNY 573,856,236.34, marking an increase of about 10.7%[151]. - The total liabilities of the company were CNY 1,000,000,000, indicating a manageable debt level relative to its equity[177]. Cash Flow - The net cash flow from investing activities was -¥266,774,468.46, a decrease of 54.91%, attributed to reduced investments in financial products[46]. - The net cash flow from financing activities dropped by 98.19% to ¥9,466,385.47, primarily due to the absence of funds raised from a private placement of shares in the previous year[46]. - The company reported a net decrease in cash and cash equivalents of -200,754,531.31 CNY, contrasting with an increase of 136,832,049.78 CNY in the previous period[167]. Market Position and Strategy - The company is focusing on deep development and operation of existing high-quality IP games to enhance monetization capabilities and expand overseas markets[32]. - The self-developed game "Glory New Three Kingdoms" has launched overseas in June 2022, targeting markets in South Korea, Southeast Asia, and Hong Kong and Macau[33]. - The company has established a strong market position as a large independent developer, enhancing its bargaining power in the industry[29]. - The company is actively exploring international business opportunities to enhance its overall profitability and promote Chinese culture[40]. - The company plans to increase R&D investment and focus on a boutique strategy to enhance its game offerings and expand into other entertainment sectors[77]. Research and Development - The company has established a mature R&D system and capabilities, focusing on high-quality IP and game development, with a strong pipeline of new game products[41]. - Research and development expenses decreased by 22.49% to ¥67,794,322.57 compared to ¥87,466,248.57 in the previous year[46]. - The company has implemented a multi-tiered R&D structure to ensure stable output and adaptability to market demands, reducing the risk of product failure during development and operation[81]. Compliance and Risk Management - The company has acknowledged the presence of risks and uncertainties in its future operational plans and projections[4]. - The company is committed to complying with regulations aimed at protecting minors and improving the quality of gaming content[38]. - The company has established a dedicated department to analyze regulatory laws and policies to mitigate compliance risks in game content, ensuring legal operations and avoiding penalties[78]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the half-year period, focusing on reinvestment[89]. - The total number of unrestricted shares decreased by 25,000, resulting in a total of 955,960,898 shares, which represents 99.93% of the total shares[131]. - The largest shareholder, Caesar Group (Hong Kong) Limited, holds 21.59% of the shares[137]. Corporate Governance - The company has implemented a robust management system that ensures efficient collaboration between headquarters and subsidiaries, enhancing organizational stability and competitiveness[43]. - The company has not experienced any major changes in its investment strategy or asset management approach[66]. - There were no significant litigation or arbitration matters during the reporting period[104]. Future Outlook - The management provided a cautious outlook for the second half of 2022, anticipating challenges in market conditions but remains focused on strategic initiatives[173]. - Future guidance indicates a targeted revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[177].

Financial Performance - The company's operating revenue for 2021 was approximately ¥932.83 million, representing a 58.16% increase compared to ¥589.81 million in 2020[16]. - The net profit attributable to shareholders for 2021 was approximately ¥81.51 million, a decrease of 33.91% from ¥123.33 million in 2020[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥125.66 million, an increase of 26.32% from ¥99.47 million in 2020[16]. - The net cash flow from operating activities for 2021 was approximately ¥300.93 million, a decrease of 13.64% from ¥348.47 million in 2020[16]. - The basic earnings per share for 2021 was ¥0.0886, down 41.56% from ¥0.1516 in 2020[16]. - The diluted earnings per share for 2021 was also ¥0.0886, reflecting the same percentage decrease of 41.56% from ¥0.1516 in 2020[16]. - Total revenue for 2021 reached ¥932,832,501.86, a year-on-year increase of 58.16% from ¥589,813,575.10 in 2020[53]. - Revenue from the cultural and entertainment sector was ¥919,944,389.83, accounting for 98.62% of total revenue, with a year-on-year growth of 69.07%[55]. - Game revenue share increased to 73.30% of total revenue, amounting to ¥683,798,141.73, reflecting a 45.10% increase compared to the previous year[55]. - The company reported a net profit attributable to shareholders of ¥149,887,366.91 in Q1 2021, compared to a loss in Q4 2020[56]. Assets and Liabilities - Total assets increased by 16.22% to CNY 5,821,766,241.64 at the end of 2021 compared to CNY 5,009,233,120.08 at the end of 2020[18]. - Net assets attributable to shareholders rose by 20.54% to CNY 5,030,297,769.74 at the end of 2021 from CNY 4,173,007,133.71 at the end of 2020[18]. - As of the end of 2021, cash and cash equivalents increased to ¥498,582,495.9, representing 8.56% of total assets, up from 2.49% at the beginning of the year, primarily due to funds raised from a private placement[74]. - Accounts receivable rose to ¥512,025,089.06, accounting for 8.80% of total assets, an increase from 7.40%, driven by growth in operating revenue[74]. - Short-term borrowings decreased significantly to ¥259,957,136.81, down from ¥487,803,435.45, reflecting repayment of bank loans during the period[74]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company has outlined potential risks and uncertainties in its future outlook, emphasizing the need for investors to be aware of these factors[4]. - The company's strategy includes exploring international business opportunities and actively expanding into overseas markets to enhance profitability[30]. - The company plans to integrate emerging technologies into its business strategy to develop innovative game products and increase market share[30]. - The company is currently developing multiple new projects aimed at expanding its product offerings, including a VR AR technology exploration project[65]. - The company aims to enhance operational efficiency and optimize asset structure through strategic equity transfers, which will also improve liquidity[90]. - The company is focused on establishing long-term and stable cooperative relationships to enhance its market position[89]. - The company is actively pursuing market expansion and new strategies to drive future growth and profitability[89]. Research and Development - The company focuses on developing high-quality mobile games, leveraging its strong IP resources to enhance monetization capabilities[41]. - The company has a strong R&D capability, with subsidiaries capable of developing multiple high-quality games simultaneously[34]. - Research and development expenses increased by 11.61% to ¥82,853,568.48, reflecting the company's commitment to enhancing product competitiveness[64]. - Total R&D investment reached ¥203,539,452.57, a 33.72% increase from the previous year, with R&D investment as a percentage of revenue decreasing to 21.82%[67]. - The number of R&D personnel grew by 32.99% to 774, with a notable increase in the proportion of personnel holding bachelor's degrees to 48.26%[67]. Market Performance - The actual sales revenue of China's game market in 2021 was CNY 296.51 billion, an increase of CNY 17.83 billion, with a year-on-year growth of 6.40%[28]. - The mobile game market accounted for 76.06% of the total game market revenue in 2021, with actual sales revenue of CNY 225.54 billion, growing by 7.57% year-on-year[28]. - The number of game users in China reached 666 million in 2021, with a slight year-on-year increase of 0.22%[28]. - The company's self-developed and agency games generated over 1.6 billion CNY in total revenue for the year, with new product "Glory New Three Kingdoms" alone contributing over 200 million CNY globally in its first year[43]. - The classic product "Three Kingdoms 2017" generated over 1 billion CNY in revenue, maintaining a strong position in the Japanese and Hong Kong markets[43]. Corporate Governance - The company has established a comprehensive governance structure, ensuring compliance with relevant laws and regulations, and protecting shareholder rights[110]. - The board of directors consists of 9 members, including 3 independent directors, ensuring a balanced and professional decision-making process[111]. - The company has a governance structure that complies with legal regulations, with no significant discrepancies noted[116]. - The board's activities during the reporting period demonstrate a proactive approach to corporate governance and strategic planning[137]. - The company has established a governance mechanism with independent directors and a supervisory board to ensure effective oversight of management[153]. Social Responsibility - The company donated a total of 440,000 RMB to support education development in Meitang Town, Puning City, Guangdong Province[160]. - The company emphasizes the importance of protecting minors and has developed games primarily targeting adult customers, with no future products aimed at minors[161]. - The company is committed to fulfilling its social responsibilities while generating profits for shareholders[160]. - The company has established a minor protection system to prevent addiction and excessive spending on online games[161]. - The company continues to support local education and rural development initiatives as part of its corporate social responsibility[160]. Employee Management - The total number of employees at the end of the reporting period was 940, with 928 from major subsidiaries and 12 from the parent company[140]. - The total employee compensation for the reporting period amounted to RMB 87.32 million, accounting for 12.63% of total operating costs[142]. - The company has a competitive compensation system that includes fixed salaries, bonuses, and diverse benefits to attract and retain talent[142]. - The company has established a training platform called "Youjia Academy" to enhance the training and development of R&D personnel[143]. - The company has implemented measures to enhance employee loyalty and creativity through a positive work environment and corporate culture[104]. Compliance and Regulatory Matters - The company has established a dedicated department to monitor regulatory changes and ensure compliance with gaming regulations, mitigating risks associated with policy changes[100][101]. - The company has not faced any penalties from securities regulatory authorities in the past three years[127]. - The company has not reported any major acquisitions or disposals of assets or equity during the reporting period[187]. - The company has not engaged in any related party transactions during the reporting period[186]. - The company has not undergone any bankruptcy reorganization during the reporting period[183].

Financial Performance - The company's revenue for Q1 2022 was ¥190,033,952.09, a decrease of 33.85% compared to ¥287,285,166.91 in the same period last year[3] - Net profit attributable to shareholders was ¥16,518,475.98, down 88.98% from ¥149,887,366.91 year-on-year[3] - The company's net profit for the period was RMB 15,099,569.95, a significant decline from RMB 156,038,552.64 in the previous year[15] - The net profit for Q1 2022 was CNY 13,613,394.95, a decrease from CNY 149,557,808.88 in the previous year, representing a decline of approximately 90.9%[17] - The total comprehensive income for Q1 2022 was CNY 13,157,165.57, down from CNY 150,189,129.08 in the same period last year, indicating a decrease of about 91.2%[17] Cash Flow and Liquidity - The net cash flow from operating activities was -¥218,619.72, a decline of 100.56% compared to ¥39,060,221.91 in the previous year[3] - Cash and cash equivalents decreased to RMB 322,968,052.81 from RMB 498,582,495.99 at the beginning of the year, representing a decline of 35.3%[12] - Cash and cash equivalents at the end of Q1 2022 totaled CNY 226,550,932.55, down from CNY 395,139,384.02 at the end of the previous year[21] - The company reported cash inflows from operating activities of CNY 154,902,045.20, a decrease from CNY 183,686,687.05 in the previous year[19] - Investment activities resulted in a net cash outflow of CNY 202,385,221.43, compared to a net outflow of CNY 382,452,702.77 in the same period last year[21] - Financing activities generated a net cash outflow of CNY 3,578,117.34, contrasting with a net inflow of CNY 633,308,518.66 in the previous year[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,884,658,763.34, an increase of 1.08% from ¥5,821,766,241.64 at the end of the previous year[3] - The total assets of the company amounted to RMB 5,884,658,763.34, a slight increase from RMB 5,821,766,241.64 at the beginning of the year[14] - Total liabilities rose to RMB 623,859,657.77, compared to RMB 573,856,236.34 at the start of the year, indicating an increase of 8.7%[14] Earnings and Expenses - Basic earnings per share decreased by 90.06% to ¥0.0173 from ¥0.1740 in the same period last year[3] - Basic earnings per share for Q1 2022 were CNY 0.0173, significantly lower than CNY 0.1740 in the same period last year[17] - Operating costs increased by 47.14% to ¥114,226,002.20, primarily due to higher channel costs[6] - Total operating costs increased to RMB 165,943,871.72, up 26.3% from RMB 131,443,057.36 in Q1 2021[15] - Research and development expenses for the quarter were RMB 22,212,715.99, slightly up from RMB 20,816,845.30 in the previous year[15] Impairment and Subsidies - The company reported a significant increase in credit impairment losses of 1272.49%, amounting to -¥10,997,459.79, due to higher provisions for bad debts[6] - The company reported a credit impairment loss of RMB 10,997,459.79, compared to RMB 801,279.18 in the same period last year[15] - The company received government subsidies amounting to ¥2,495,980.69, a decrease of 31.47% compared to ¥1,898,573.06 in the previous year[6] Other Information - The company held trading financial assets of RMB 276,500,000.00, a significant increase from RMB 100,000,000.00 at the beginning of the year[12] - Accounts receivable increased to RMB 568,165,866.74, up 11% from RMB 512,025,089.06 at the start of the year[12] - The company experienced a decrease in sales revenue from CNY 142,620,252.90 in Q1 2022 compared to CNY 160,770,923.81 in the previous year[19] - The company did not report any new mergers or acquisitions during this quarter[18]

Revenue and Profitability - Revenue for Q3 2021 reached ¥222,495,666.64, an increase of 60.18% compared to the same period last year[3] - Net profit attributable to shareholders decreased by 8.42% to ¥29,917,157.51, while net profit excluding non-recurring gains and losses fell by 17.04% to ¥26,878,395.74[3] - Total operating revenue for Q3 2021 reached ¥692,503,525.54, a significant increase of 56% compared to ¥444,224,716.14 in the same period last year[18] - Operating profit for the period was ¥246,945,057.37, up 61% from ¥153,297,546.01 in Q3 2020[19] - Net profit attributable to the parent company was ¥242,062,778.28, representing a 61% increase from ¥150,133,629.69 in the previous year[19] - The company reported a basic earnings per share of ¥0.03, down 25.00% year-on-year[3] - The company reported a basic earnings per share of ¥0.26, compared to ¥0.18 in the same quarter last year, marking a 44% increase[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,789,741,612.75, reflecting a 15.58% increase from the end of the previous year[3] - Total assets increased to ¥5,789,741,612.75, compared to ¥5,009,233,120.08 at the end of the previous year, reflecting a growth of 15.5%[16] - Total liabilities decreased to ¥541,047,453.02 from ¥836,375,803.38, indicating a reduction of approximately 35%[16] - The total liabilities increased from CNY 836,375,803.38 to CNY 860,588,080.36, reflecting a rise of approximately 2.5%[28] Equity and Shareholder Information - The company’s total equity attributable to shareholders increased by 25.71% to ¥5,245,822,345.67 compared to the previous year[3] - The total equity attributable to shareholders increased to ¥5,245,822,345.67 from ¥4,173,007,133.71, reflecting a growth of 25.7%[16] - The total number of common shareholders at the end of the reporting period is 77,293[9] - The largest shareholder, Caesar Group (Hong Kong) Limited, holds 22.43% of shares, amounting to 214,569,397 shares, with 30,000,000 shares pledged[9] Cash Flow and Investment Activities - The company’s cash flow from operating activities for the year-to-date was ¥194,434,992.05, up 13.28%[3] - Cash flow from operating activities was ¥650,113,313.53, an increase of 55% from ¥420,139,016.47 in the same quarter last year[22] - The net cash flow from operating activities for Q3 2021 was CNY 194,434,992.05, an increase from CNY 171,646,449.46 in Q3 2020, reflecting a growth of approximately 13.5%[23] - The cash outflow for investment activities was CNY 873,854,297.51, compared to CNY 145,335,931.05 in Q3 2020, showing a significant increase in investment spending[23] - The company’s investment activities generated a cash outflow of ¥474,845,892.35, a significant increase of 406.81% compared to the previous period[7] - The total cash inflow from investment activities was CNY 399,008,405.16, significantly higher than CNY 51,643,066.58 in the same period last year[23] Share Repurchase and Offering - The company plans to repurchase shares with a total amount between RMB 50 million and RMB 100 million, with a maximum repurchase price of RMB 13.34 per share[11] - The company has repurchased 3,000,000 shares, which is 0.31% of the total share capital, at an average price between RMB 6.93 and RMB 7.43 per share[12] - The company raised a total of RMB 900,399,994.20 from a non-public offering of 142,920,634 shares at a price of RMB 6.30 per share[10] - The non-public offering shares totaling 142,920,634 were released from restrictions and listed for trading on September 9, 2021, accounting for 14.94% of the total share capital[11] Other Financial Metrics - The weighted average return on equity was 0.57%, a decrease of 0.21% from the previous year[3] - Research and development expenses for the quarter were ¥53,850,279.53, slightly up from ¥49,394,426.67 in Q3 2020[19] - The company’s deferred income tax assets rose to ¥181,982,512.78, up from ¥172,282,271.14, indicating a growth of 5%[16] Legal and Compliance - The company is currently involved in litigation regarding a contract dispute with a claim amount of RMB 98,141,000[12] - The third quarter report of Caesar (China) Cultural Co., Ltd. for 2021 is unaudited[29] - The report was released on October 26, 2021[29] - The company has implemented new leasing standards starting from 2021, affecting prior comparative data[29] - No specific financial performance metrics or user data were provided in the report[29] - Future outlook and performance guidance were not detailed in the document[29] - There is no mention of new product or technology development in the report[29] - Market expansion and acquisition strategies were not discussed[29] - Other new strategies were not highlighted in the report[29] - The report does not include any specific numerical data or percentages related to performance[29] - The document does not provide any audited financial results[29]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥470,007,858.90, representing a 53.94% increase compared to ¥305,322,271.07 in the same period last year[17]. - The net profit attributable to shareholders of the listed company reached ¥212,145,620.77, an increase of 80.60% from ¥117,467,577.26 in the previous year[17]. - The net cash flow from operating activities was ¥186,245,151.52, showing a significant increase of 97.22% compared to ¥94,436,590.36 in the same period last year[17]. - The basic earnings per share increased to ¥0.23, up 64.29% from ¥0.14 in the previous year[17]. - Total assets at the end of the reporting period were ¥5,808,559,123.40, a 15.96% increase from ¥5,009,233,120.08 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥5,237,369,151.09, reflecting a 25.51% increase from ¥4,173,007,133.71 at the end of the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥209,828,955.20, an increase of 88.37% from ¥111,393,566.32 in the same period last year[17]. - The company reported a weighted average return on net assets of 4.37%, an increase of 1.53% compared to 2.84% in the previous year[17]. Revenue Sources - Revenue from the cultural and entertainment sector was ¥463,778,972.82, accounting for 98.67% of total revenue, with a year-over-year growth of 56.01%[44]. - Game revenue contributed ¥303,463,956.94, which is 64.57% of total revenue, showing a slight increase of 3.35% compared to the previous year[45]. - Copyright operations generated ¥160,309,396.77, a significant increase of 4,413.60% year-over-year, with a gross margin of 75.47%[45]. - Domestic revenue was ¥397,049,289.61, up 73.23% from the previous year, representing 84.48% of total revenue[44]. - Overseas revenue decreased by 4.16% to ¥72,958,569.29, accounting for 15.52% of total revenue[44]. Game Development and Market Position - The self-developed games such as "Three Kingdoms 2017" and "Dragon Ball Awakening" maintained strong profitability during the reporting period[29]. - The company has multiple new games in development, including "Naruto: Peak Showdown" and "One Piece," with expected launches in Q3 2021[30]. - The company’s joint operation games generated over 30% growth in revenue compared to the same period in 2020, with 12 games currently in operation[29]. - The company has established a strong market position as a large independent developer with significant market bargaining power[26]. - The company is actively negotiating global licensing deals for several well-known IPs to support future development needs over the next 2-3 years[30]. Investment and R&D - Research and development expenses rose by 44.12% to ¥87,466,248.57, reflecting ongoing investment in game project development[42]. - The company invested ¥212,445,028.29 in game development projects, indicating a continued increase in investment in this area[50]. - The company plans to increase R&D investment and focus on developing high-quality games to enhance competitiveness in the mobile gaming industry[63]. - The company has implemented a multi-tiered R&D team structure to maintain stable output and adaptability to market demands[68]. Financial Stability and Cash Flow - The total cash and cash equivalents increased by 90.74% to ¥115,949,583.38 from ¥60,788,276.67[43]. - The company has reduced short-term borrowings to ¥171,863,282.37 from ¥487,803,435.45, a decrease of approximately 64.7%[143]. - The company reported a significant increase in cash received from other operating activities, totaling CNY 31,409,368.26, compared to CNY 55,471,018.93 in the previous year[159]. - The net cash flow from operating activities increased significantly to ¥131,498,741.52 from ¥45,362,375.45, representing a growth of approximately 189%[163]. Corporate Governance and Compliance - The company has established a dedicated department to ensure compliance with regulatory requirements for game content, mitigating risks associated with industry policies[64]. - The company has committed to fulfilling its refinancing commitments in accordance with the latest regulations[86]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[87]. - The company did not engage in any major litigation or arbitration matters during the reporting period[92]. Shareholder Information - The company issued 142,920,634 new shares in a private placement, increasing the total shares to 956,665,066[119]. - The largest shareholder, Caesar Group (Hong Kong) Limited, holds 22.43% of the shares, amounting to 214,569,397 shares, which are pledged[127]. - The company reported a commitment to distribute at least 20% of the annual distributable profits in cash dividends[86]. - The total number of ordinary shareholders at the end of the reporting period was 77,746[127]. Risk Management - The company has identified potential risks and corresponding measures in its management discussion and analysis section[4]. - The company faces risks of asset impairment, which may adversely affect its operating performance[71]. - The company plans to strengthen business synergy and resource integration for its acquired subsidiaries to ensure stable development and protect shareholder interests[71].

Financial Performance - The company's operating revenue for Q1 2021 was ¥287,285,166.91, representing a 62.29% increase compared to ¥177,024,139.75 in the same period last year[7]. - Net profit attributable to shareholders was ¥149,887,366.91, an increase of 83.66% from ¥81,612,206.50 year-on-year[7]. - The net profit after deducting non-recurring gains and losses was ¥148,070,706.67, up 88.67% from ¥78,480,272.09 in the previous year[7]. - Basic earnings per share rose to ¥0.17, a 70.00% increase from ¥0.10 in the previous year[7]. - The total comprehensive income for Q1 2021 was ¥150,189,129.08, compared to ¥83,993,384.00 in the previous year, marking an increase of approximately 78.7%[42]. Cash Flow - The net cash flow from operating activities was ¥39,060,221.91, a significant increase of 842.94% compared to a negative cash flow of ¥5,257,508.90 in the same period last year[7]. - The company reported a net cash flow from financing activities of ¥633,308,518.66, a significant increase of 2714.94% from the previous period, mainly from private placement funds[15]. - Cash inflow from sales of goods and services was CNY 160,770,923.81, compared to CNY 122,427,320.02 in the previous period, showing a growth of approximately 31.3%[48]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,840,676,872.69, reflecting a 16.60% increase from ¥5,009,233,120.08 at the end of the previous year[7]. - Total liabilities decreased to CNY 646,959,421.05 from CNY 836,375,803.38, a reduction of about 22.6%[33]. - Shareholders' equity increased to CNY 5,193,717,451.64 from CNY 4,172,857,316.70, reflecting a growth of approximately 24.5%[34]. Research and Development - Research and development expenses increased by 85.35% to ¥20,816,845.30, driven by ongoing game development projects and expansion of the R&D team[14]. - Research and development expenses rose to ¥20,816,845.30 from ¥11,230,907.88, highlighting an increased focus on innovation[40]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 85,926[10]. - The company has committed to distributing at least 20% of its distributable profits as cash dividends annually[18]. Fundraising Activities - The company raised a total of ¥900,399,994.20 through the issuance of 142,920,634 shares at a price of ¥6.30 per share in February 2021[21]. - The net proceeds from the fundraising, after deducting issuance costs, amounted to ¥870,671,005.86[21]. - The company plans to invest ¥90,040,000.00 of the raised funds into three projects, including ¥59,318,000.00 for game development and operations[22]. Compliance and Governance - The company has no securities or derivative investments during the reporting period[19][20]. - The company has no violations regarding external guarantees during the reporting period[27]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[27]. Operational Insights - The company conducted an on-site investigation with institutional investors on March 16, 2021, discussing its operational status[28]. - The first quarter report for 2021 was not audited, indicating a focus on internal assessments[61].

Financial Performance - The company's operating revenue for 2020 was ¥589,813,575.10, a decrease of 26.61% compared to ¥803,702,809.28 in 2019[14]. - The net profit attributable to shareholders for 2020 was ¥123,329,752.18, down 41.19% from ¥209,691,371.55 in 2019[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥99,473,235.13, a decline of 46.26% from ¥185,112,964.68 in 2019[14]. - The net cash flow from operating activities was ¥348,474,804.04, a decrease of 10.02% compared to ¥387,288,733.86 in 2019[14]. - Basic earnings per share for 2020 were ¥0.15, down 42.31% from ¥0.26 in 2019[14]. - Diluted earnings per share for 2020 were also ¥0.15, reflecting a 42.31% decrease from ¥0.26 in 2019[14]. - The weighted average return on equity for the company was 2.99% in 2020, down from 5.24% in 2019[16]. - Total assets at the end of 2020 amounted to ¥5,009,233,120.08, reflecting a 0.62% increase from ¥4,978,227,111.18 at the end of 2019[16]. - The company's total consolidated revenue for the year was 589.81 million yuan, a decrease of 26.61% compared to the previous year[39]. - The net profit attributable to shareholders was 123.33 million yuan, down 41.19% year-on-year[39]. Revenue Sources - The company's main business is focused on cultural entertainment, including copyright operation and online game development, with significant revenue from mobile online games[24][25]. - The revenue from China's mobile gaming market reached ¥209.68 billion in 2020, up 32.61% from 2019[28]. - Revenue from the cultural and entertainment sector was ¥544,127,714.79, accounting for 92.25% of total revenue, down 28.82% from the previous year[49]. - The gaming revenue share decreased to 79.90%, generating ¥471,251,077.90, a decline of 12.42% year-over-year[49]. - Domestic revenue was ¥438,299,815.38, representing 74.31% of total revenue, down 15.01% from ¥515,700,323.73 in 2019[49]. Game Development and IP - The company has established a robust IP commercialization capability, focusing on the investment and operation of high-quality IPs, which supports its leading position in the industry[31]. - The subsidiary Cool Cow Interactive has successfully developed and launched several popular mobile games, achieving significant revenue milestones, including a monthly revenue exceeding 50 million for "New Legend of the Sword and Fairy" and over 100 million in the first month for "Three Kingdoms 2017"[35]. - The self-developed game "Three Kingdoms 2017" generated over 1.2 billion yuan in revenue for 2020, with a significant 219% year-on-year increase in the overseas market, particularly in Vietnam[39]. - The company has secured the mobile adaptation rights for popular IPs, achieving over 100 million yuan in first-month revenue for titles like "Hunter x Hunter" and "From the Past, There Was a Spirit Sword Mountain"[43]. - The company has a diversified IP matrix, including popular titles such as "Naruto" and "One Piece," which strengthens its game development capabilities[32]. Research and Development - The company increased its R&D investment in 2020, focusing on product quality improvement and new technology applications, with a notable increase in the number of senior R&D personnel[41]. - Research and development expenses amounted to ¥152,217,767.68 in 2020, a 39.56% increase from ¥109,069,582.88 in 2019, representing 25.81% of total revenue[63]. - The number of R&D personnel increased by 24.89% to 582 in 2020, with R&D personnel accounting for 76.98% of the workforce[63]. - The company has several ongoing game development projects, including titles based on popular IPs such as "One Piece" and "Naruto"[63]. Market Position and Strategy - The company has established a strong market position as a large independent developer, enhancing its market bargaining power[25]. - The company aims to enhance its market share by launching multiple innovative game products and exploring international business opportunities as domestic games gain traction in overseas markets[29]. - The company is committed to integrating emerging technologies into its business strategy to further enhance its competitive edge in the mobile gaming industry[29]. - The company aims to enhance its overseas operations by actively seeking global partners for game licensing and distribution, with a goal to increase overseas revenue significantly[87]. Shareholder and Governance - The company plans to distribute a cash dividend of ¥0.18 per 10 shares, based on a total of 956,665,066 shares[4]. - The cash dividend distribution in 2020 represents 13.96% of the net profit attributable to shareholders, compared to 16.69% in 2019 and 17.55% in 2018[109]. - The company has a consistent cash dividend policy, prioritizing cash distributions of at least 20% of distributable profits when conditions allow[103]. - The company has committed to distributing at least 20% of the annual distributable profits in cash to shareholders, as per the commitment made in December 2017[113]. - The company has maintained a stable leadership team with no significant changes in shareholding among its senior management during the reporting period[173][174]. Compliance and Risk Management - The company has established a dedicated department to ensure compliance with regulatory requirements for game content, mitigating risks associated with policy changes[93]. - The company is committed to keeping pace with technological advancements in the gaming industry to avoid negative impacts on user experience and business performance[94]. - The company has implemented a comprehensive internal control system to manage the complexities arising from its expanded operations and diverse subsidiaries[95]. - The company has identified risks related to product development and operational failures, implementing multi-tiered R&D teams to enhance adaptability to market demands[96]. Employee and Management - The company employed a total of 756 staff, including 582 technical personnel and 101 sales personnel[186]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 5.6557 million[184]. - The company conducted 18 mandatory training sessions with a total attendance of 545 participants, covering various skills and management training[187]. - The company has a structured salary policy based on job evaluation and market wages, ensuring competitive compensation[187]. External Relations and Community Engagement - The company actively responded to the pandemic by ensuring employee safety and supporting economic recovery through rent reductions and donations[150]. - The company did not conduct any precision poverty alleviation work during the reporting year and has no subsequent plans[151]. - The company and its subsidiaries are not classified as key pollutant discharging units by environmental protection authorities[152].

Financial Performance - Net profit attributable to shareholders was ¥32,666,052.43, representing a 43.07% increase year-on-year[7]. - Operating revenue for the reporting period was ¥138,902,445.07, down 18.86% compared to the same period last year[7]. - The net profit attributable to shareholders for the year-to-date period was ¥150,133,629.69, down 26.09% compared to the same period last year[7]. - The net profit for Q3 2020 was CNY 150,503,448.92, a decrease of 26.0% compared to CNY 203,375,577.00 in Q3 2019[47]. - The total operating revenue for the year-to-date period was CNY 444,224,716.14, down from CNY 603,608,196.57 in the previous year[46]. - The total operating revenue for Q3 2020 was CNY 25,167,264.27, compared to CNY 8,207,322.97 in the previous period[42]. - The total profit for the third quarter of 2020 was CNY 35,207,822.86, compared to CNY 21,839,813.91 in the previous year, indicating a year-over-year increase of about 60.9%[39]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,035,289,915.40, an increase of 1.15% compared to the end of the previous year[7]. - Cash and cash equivalents decreased by 54.10% to ¥86,268,439.90 due to payments for game development and bond repayments[15]. - Inventory decreased by 95.73% to ¥1,244,411.76 as a result of selling off clothing stock[15]. - Short-term borrowings increased by 38.50% to ¥471,483,888.82 due to additional bank loans[15]. - The company's non-current assets totaled CNY 4,152,197,167.89, up from CNY 4,020,495,494.20, showing an increase of approximately 3.3%[31]. - Total liabilities decreased to CNY 833,876,927.20 from CNY 889,657,797.56 year-on-year[33]. - Total liabilities reached CNY 889,657,797.56, with current liabilities at CNY 848,623,612.61 and non-current liabilities at CNY 41,034,184.95[64]. Cash Flow - The net cash flow from operating activities was ¥77,209,859.10, a significant increase of 2,964.30% year-on-year[7]. - Cash flow from financing activities decreased by 333.69% to -¥179,468,081.52, primarily due to repayment of maturing corporate bonds[15]. - Total cash inflow from operating activities was CNY 487,175,398.63, while cash outflow was CNY 315,528,949.17, resulting in a net cash flow of CNY 171,646,449.46[55]. - Cash inflow from investment activities was CNY 51,643,066.58, while cash outflow was CNY 145,335,931.05, leading to a net cash flow of -CNY 93,692,864.47[56]. - Cash inflow from financing activities totaled CNY 558,622,687.55, with cash outflow of CNY 738,090,769.07, resulting in a net cash flow of -CNY 179,468,081.52[56]. Shareholder Information - The total number of shareholders at the end of the reporting period was 111,694[11]. - The largest shareholder, Caesar Group (Hong Kong) Limited, holds 26.37% of the shares, with 214,569,397 shares pledged[11]. - The company has committed to distributing at least 20% of the annual distributable profits as cash dividends to shareholders[19]. Expenses - Sales expenses decreased by 59.80% to ¥12,000,005.68, primarily due to reduced salaries and advertising costs[15]. - R&D expenses decreased by 31.54% to ¥49,394,426.67, mainly due to a reduction in outsourced development costs[15]. - The company's financial expenses amounted to CNY 22,391,949.93, a decrease of 29.1% from CNY 31,553,677.08 in the previous year[47]. - The tax expenses for Q3 2020 were CNY 3,874,250.89, significantly lower than CNY 12,579,197.20 in Q3 2019, indicating a decrease of 69.1%[47]. Other Income and Investments - The company reported a total of ¥6,855,969.89 in government subsidies recognized in the current period[8]. - Other income increased by 143.14% to ¥4,712,145.78, attributed to increased government subsidies[15]. - The company reported a significant increase in long-term equity investments, totaling CNY 161,784,897.50[62]. - The company reported no significant investments in securities or derivatives during the reporting period[20][21].