北京盛通印刷股份有限公司投资者关系活动记录表 | | □特定对象调研 □分析师会议 □媒体采访 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 投资者关系活动类别 | √业绩说明会 □新闻发布会 □路演活动 | | | | | | | | □现场参观 □其他 | | | | | | | | 东吴证券 、国盛证券 、华西证券 、开源证券 | | | | | 、民 | | | 生证券 、东北证券 、广发证券 、国元证券 | | | | 、华创 | | | | 证券 、国海证券 、国元证券 、国泰君安 | | | | 、东方证 | | | | 、中泰证券 、招商证券 、华福证券 | 券 | | | 、金股证券 | 、 | | | 银叶投资 、平安基金 、平安资管 、方正富邦基金 | | | | | 、 | | | 光大证管 、平安银行 、国赞基金 、天猊投资 | | | | | 、健 | | | 顺投资 、赛伯乐投资 | | 、乾惕投资 | 、华商基金 | | 、启 | | | 石资管 、志开投资 、瀚伦基金 、泰德圣投资 | | | | | 、嘉 ...

I. Key Financial Data [Core Financial Indicators](index=2&type=section&id=%28I%29%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In Q1 2023, the company reported CNY 596 million in operating revenue, a 16.27% increase, with net loss narrowing and operating cash flow significantly improving Q1 2023 Key Financial Indicators | Indicator | Current Period (CNY) | Prior Period (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 595,986,281.84 | 512,590,536.81 | 16.27% | | Net Profit Attributable to Owners of Parent Company | -24,380,267.50 | -24,814,105.35 | 1.75% | | Net Profit Attributable to Owners of Parent Company After Non-Recurring Items | -25,914,459.32 | -26,998,759.38 | 4.02% | | Net Cash Flow from Operating Activities | -11,625,571.03 | -40,604,709.13 | 71.37% | | Total Assets | 2,570,319,422.63 | 2,721,402,341.01 | -5.55% (vs. Year-End) | | Total Equity Attributable to Owners of Parent Company | 1,428,797,560.01 | 1,451,609,427.51 | -1.57% (vs. Year-End) | [Analysis of Non-Recurring Gains and Losses](index=2&type=section&id=%28II%29%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) During the period, total non-recurring gains and losses were CNY 1.53 million, primarily from government grants, partially offset by other non-operating items Q1 2023 Non-Recurring Gains and Losses Items | Item | Amount (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -15,820.79 | | Government Grants Included in Current Profit/Loss | 2,874,002.29 | | Other Non-Operating Income and Expenses | -686,186.38 | | Less: Income Tax Impact | 404,450.66 | | Less: Impact on Minority Interests (After Tax) | 233,352.64 | | **Total** | **1,534,191.82** | [Reasons for Changes in Key Financial Indicators](index=3&type=section&id=%28III%29%20Changes%20and%20Reasons%20for%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the period, operating cash flow significantly improved due to increased sales collection, while investing and financing cash flows decreased due to specific activities, and certain liabilities also declined - Net cash flow from operating activities increased by **71.37%** year-over-year, primarily due to increased cash received from sales of goods and rendering of services[8](index=8&type=chunk) - Net cash flow from investing activities decreased by **200.80%** year-over-year, mainly because there was a recovery of external investments in the prior period, which was absent in the current period[8](index=8&type=chunk) - Net cash flow from financing activities decreased by **205.14%** year-over-year, primarily due to the repayment of bank loans during the reporting period[8](index=8&type=chunk) - Short-term borrowings decreased by **63.18%** and taxes payable decreased by **49.02%** compared to the beginning of the period, mainly due to repayment of bank loans and tax payments[8](index=8&type=chunk) II. Shareholder Information [Shareholding Status](index=3&type=section&id=%28I%29%20Total%20Number%20of%20Common%20Shareholders%2C%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%2C%20and%20Top%20Ten%20Shareholders%27%20Shareholding) As of the period end, the company had 34,592 common shareholders, with the top two holding significant stakes, some pledged, and key shareholders acting in concert, indicating concentrated ownership - As of the end of the reporting period, the company had **34,592** common shareholders[10](index=10&type=chunk) Top Two Shareholders' Shareholding and Pledging Status | Shareholder Name | Shareholding Percentage | Number of Shares Held | Number of Pledged Shares | | :--- | :--- | :--- | :--- | | Li Yanqiu | 21.34% | 114,742,098 | 47,450,000 | | Jia Chunlin | 11.65% | 62,640,971 | 35,530,000 | - Shareholder Ms. Li Yanqiu and Mr. Jia Zicheng are mother and son, and are concerted parties with 'Yimi Fund Yuansheng No. 1'[11](index=11&type=chunk) IV. Quarterly Financial Statements [Consolidated Balance Sheet Analysis](index=4&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of March 31, 2023, total assets decreased by 5.55% to CNY 2.57 billion, and total liabilities decreased by 10.11% to CNY 1.14 billion, driven by reductions in cash, prepayments, and short-term borrowings Balance Sheet Key Item Changes | Item | Period-End Balance (CNY) | Year-Beginning Balance (CNY) | Change Rate | | :--- | :--- | :--- | :--- | | **Total Assets** | **2,570,319,422.63** | **2,721,402,341.01** | **-5.55%** | | Cash and Cash Equivalents | 204,519,569.35 | 274,191,684.44 | -25.41% | | Prepayments | 86,054,344.12 | 130,880,254.67 | -34.25% | | **Total Liabilities** | **1,140,306,950.43** | **1,268,605,603.81** | **-10.11%** | | Short-term Borrowings | 17,410,175.00 | 47,289,175.01 | -63.18% | | **Equity Attributable to Owners of Parent Company** | **1,428,797,560.01** | **1,451,609,427.51** | **-1.57%** | [Consolidated Income Statement Analysis](index=6&type=section&id=2.%20Consolidated%20Income%20Statement) In Q1 2023, total operating revenue grew 16.27% to CNY 596 million, but increased costs led to an operating loss of CNY 24.98 million, with net loss attributable to the parent company slightly narrowing to CNY 24.38 million Income Statement Core Data | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 595,986,281.84 | 512,590,536.81 | 16.27% | | Total Operating Costs | 622,640,115.24 | 541,704,137.28 | 14.94% | | Operating Profit | -24,981,171.95 | -27,568,862.43 | 9.39% | | Total Profit | -25,667,358.33 | -27,628,207.17 | 7.09% | | Net Profit Attributable to Owners of Parent Company | -24,380,267.50 | -24,814,105.35 | 1.75% | [Consolidated Cash Flow Statement Analysis](index=8&type=section&id=3.%20Consolidated%20Cash%20Flow%20Statement) During the period, operating cash flow significantly improved to -CNY 11.63 million, while investing activities resulted in a CNY 11.27 million outflow, and financing activities led to a CNY 47.53 million outflow due to debt repayment Cash Flow Statement Key Items | Item | Current Period Amount (CNY) | Prior Period Amount (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -11,625,571.03 | -40,604,709.13 | | Net Cash Flow from Investing Activities | -11,271,467.75 | 11,182,412.89 | | Net Cash Flow from Financing Activities | -47,532,999.51 | -15,577,613.13 | | Net Increase in Cash and Cash Equivalents | -70,915,196.61 | -45,065,151.21 | - Cash inflow from operating activities was **CNY 584 million**, primarily from cash received from sales of goods and rendering of services totaling **CNY 572 million**, a **24.09%** year-over-year increase[19](index=19&type=chunk) - Cash outflow from financing activities was **CNY 60.47 million**, with **CNY 39 million** paid for debt repayment, which was the primary reason for the net cash outflow from financing activities[20](index=20&type=chunk)

证券代码：002599 证券简称：盛通股份 公告编号：2023023 北京盛通印刷股份有限公司 关于举行2022年度暨2023年第一季度业绩网上说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 北京盛通印刷股份有限公司（以下简称"公司"）已分别于2023年4月25日、2023年4月29 日在巨潮资讯网（www.cninfo.com.cn）上披露了《2022年年度报告》及《2023年第一季度报 告》。 参与方式一：通过网址https://eseb.cn/14ddkfQa59K； 参与方式二：微信扫一扫以下二维码； 投资者依据提示，授权登录即可参与交流。 出席本次网上说明会的人员有：董事长贾春琳先生、独立董事樊小刚先生、副总经理兼董 事会秘书肖薇女士、财务总监许菊平女士。 敬请广大投资者积极参与。 特此公告。 北京盛通印刷股份有限公司董事会 2023 年 4 月 28 日 为便于广大投资者进一步了解公司发展战略、生产经营等情况，公司定于2023年5月5日（星 期五）下午15:00-17:00在"价值在线"（www.ir-online.cn）举行2022 ...

Financial Performance - The company's operating revenue for 2022 was ¥2,238,775,285.06, a decrease of 6.91% compared to ¥2,405,018,036.61 in 2021[19] - The net profit attributable to shareholders for 2022 was ¥4,835,107.32, representing a significant decline of 92.85% from ¥67,609,393.79 in the previous year[19] - The basic earnings per share for 2022 was ¥0.01, down 91.67% from ¥0.12 in 2021[19] - The company reported a negative net profit after deducting non-recurring gains and losses for 2022, amounting to -¥4,260,044.79[19] - The company experienced a significant decline in profitability, with a weighted average return on net assets of only 0.34% in 2022, down from 4.80% in 2021[19] - In 2022, the company achieved total revenue of CNY 2,238.78 million, a year-on-year decrease of 6.91%, and a net profit attributable to shareholders of CNY 4.84 million, down 92.85% year-on-year[51] Cash Flow and Assets - The net cash flow from operating activities increased by 135.69% to ¥248,598,922.30 in 2022, primarily due to an increase in bank acceptance bill settlements and a reduction in payable amounts[70] - Total assets at the end of 2022 amounted to ¥2,721,402,341.01, an increase of 4.36% from ¥2,607,583,026.62 at the end of 2021[19] - The net assets attributable to shareholders increased by 3.92% to ¥1,451,609,427.51 at the end of 2022, compared to ¥1,396,805,158.43 at the end of 2021[19] - The cash and cash equivalents net increase was ¥34,282,656.57, a significant turnaround from a net decrease in the previous year[70] Dividends and Share Repurchase - The company plans not to distribute cash dividends or issue bonus shares for the year[5] - The company repurchased a total of 5,965,100 shares during the reporting period, with a total payment of ¥30,012,783.95, which influenced the decision not to propose a cash dividend distribution[138] Industry Outlook - The printing industry in China is expected to grow at an average annual rate of around 5% during the 14th Five-Year Plan period[30] - The market size of the packaging industry in China is projected to grow from ¥1,003.3 billion in 2019 to approximately ¥1,302 billion in 2022[31] - The company anticipates that high-value-added printing products will significantly increase their share of the industry output value[31] - The education technology market, particularly in children's programming education, is expected to grow at a CAGR of 16.7% from 2022 to 2025, reaching a market size of over ¥50 billion[34] Strategic Initiatives - The company is focusing on digitalization and automation as key trends in the printing industry, driven by rising material costs and increasing customer demands[32] - The implementation of the "Robot+" application action plan aims to double the density of robots in manufacturing by 2025, highlighting the importance of education in robotics[37] - The company aims to become a leader in youth technology education, focusing on developing skills such as creative thinking, communication, and engineering abilities[41] - The technology education service segment is expected to become a new profit growth point, contributing to the company's diversified development strategy[40] Research and Development - Research and development expenses amounted to ¥39,989,981.78, a decrease of 4.51% compared to the previous year, with R&D expenses accounting for 1.79% of operating income[69] - The number of R&D personnel increased by 8.11% to 240 in 2022[68] - The company capitalized R&D expenses amounting to ¥19,065,148.99, representing 32.28% of total R&D expenses, a significant increase of 659.25% year-on-year[69] Governance and Management - The company has established a fair and transparent performance evaluation and incentive mechanism for directors and senior management, implementing restricted stock incentives[107] - The company maintains complete independence in its operations, assets, and financial management, with no interference from controlling shareholders[108] - The company has a diverse board with members having backgrounds in finance, management, and technology, enhancing strategic decision-making capabilities[112][113][116] Employee Engagement and Welfare - The company focused on employee welfare, providing comprehensive benefits and organizing various activities to enhance employee engagement and well-being[159] - The company has established a competitive selection mechanism for career development, emphasizing the importance of talent cultivation and reserve[137] Social Responsibility - The company actively participated in social responsibility initiatives, including donations of protective masks to support orderly resumption of work and school[161] - The company donated 186,000 RMB worth of 62 sets of "Campus Version ROBOSIM Virtual Robot Software" to support the Guizhou Province's youth AI competition[162] Risks and Challenges - The company faces risks related to raw material price fluctuations, which significantly impact operational stability, and plans to implement centralized procurement strategies[96] - The company is also exposed to operational risks due to industry policies and economic cycles, and it aims to enhance its core competitiveness to navigate market challenges[97]

Group 1: Printing Business Performance - The printing segment generated over 1.9 billion in revenue for the year, with Q3 2022 revenue affected by the pandemic, leading to order delays into Q4 2022 and Q1 2023 [2] - The overall revenue for the printing segment last year was 1.9 billion, with packaging printing contributing 3 billion, and publication printing accounting for over 1.6 billion [2] - The gross margin for the printing segment is over 10% [2] Group 2: Education Sector Insights - As of Q3 2022, the company operates 150 direct stores with approximately 36,000 enrolled students, and around 500 franchise stores [3] - The average charge per class is approximately 150 yuan, with each class lasting 1.5 hours [3] - The company plans to achieve over 30% growth in natural enrollment next year, aiming for an average of 400 students per school [4] Group 3: Financial Health and Future Outlook - The company has sufficient cash reserves and a reasonable debt level, with expectations for positive cash flow from both traditional and education segments next year [3] - There are currently no plans for refinancing, but future equity financing may be considered [3] - The education sector is expected to recover post-pandemic, with potential for record earnings, as the company is the only listed entity in the quality education sector in A-shares [4]

Group 1: Business Strategy and Operations - The company plans to expand its direct stores in first-tier cities while establishing flagship model stores in second-tier cities and focusing on franchise stores in third and fourth-tier cities [1] - Currently, there are approximately 150 direct stores and over 500 franchise stores [3] - The company has made significant internal adjustments, enhancing its management and compliance operations, and investing in technology [1] Group 2: Market Conditions and Competition - The industry is in the final stage of a reshuffle, with significant operational cash flow pressures due to the pandemic and upcoming holiday periods [3] - The company anticipates a more orderly competition in the future, as many institutions may exit the market due to operational and compliance challenges [3] - The programming education market is projected to reach a scale of 50 billion by 2025, with significant growth potential in China, where the penetration rate was only 2% in 2021 [3] Group 3: Financial Health and Revenue Recognition - The company maintains a low average debt per student and has a healthy cash flow, with a low debt-to-asset ratio [4] - Revenue recognition has shifted to allow recognition only after students attend classes, ensuring more accurate financial reporting [4] - The company is implementing quarterly fee collection in response to stricter regulatory requirements [4]

Group 1: Business Overview - The company has a competitive advantage in the publication printing sector, particularly in government and red-themed publications, with an expected increase in orders as the industry consolidates [2] - The company operates factories in Beijing, Shanghai, Tianjin, and Hebei, which will further enhance production capacity [2] Group 2: Financial Performance - Prior to the "double reduction" policy, the renewal rate for students was approximately 80%, but this may decline due to changes in fee collection practices [3] - The average net profit for well-performing direct stores in Beijing is estimated to be between 700,000 to 1,500,000 yuan [4] - The number of enrolled students increased from 33,000 at the end of 2021 to 36,000 in Q3 of this year [4] Group 3: Market Trends and Competition - The market size for the education industry is projected to reach around 50 billion yuan, with accelerated growth expected post "double reduction" [3] - The company plans to open approximately 100 new direct stores in first-tier cities in the future [4] Group 4: Operational Insights - The company currently has 150 direct stores and over 500 franchise stores [3] - The student-to-teacher ratio in well-performing cities is about 1:43-45, while poorer cities have a ratio of 1:30+ [5] - The company primarily acquires customers through grassroots marketing, online reviews, referrals, and cross-industry collaborations [5]

Group 1: Company Strategy and Market Position - The company has a long-term strategic plan to enter the education sector, leveraging its established position in the publishing industry and strong customer base to create a comprehensive service ecosystem in education, publishing, and culture [2] - Following the acquisition of Lebo, the existing management team will continue to operate without significant changes, focusing on capital integration [3] Group 2: Production and Market Trends - Prior to 2013, the company had a high proportion of rapid product capacity; however, after 2013, the internet has impacted instant reading products, leading to an increase in the production capacity of children's books and educational materials [3] - The company has completed internal production management adjustments and anticipates stable growth in its main business over the next few years [3] Group 3: Acquisition Progress and Future Investments - As of June 12, 2016, the company received feedback from the China Securities Regulatory Commission regarding its acquisition, and it is required to respond within 30 working days [3] - Future investments will focus on quality education, with the scale of investment to be determined based on actual conditions; the company will concentrate on mergers and acquisitions in the education sector [3] Group 4: Expansion Plans and Revenue Structure - From 2016 to 2018, Lebo Education plans to open 23, 19, and 15 new campuses respectively, with a slowdown in expansion expected by 2019 [4] - The revenue per single store is projected to be between 2 to 2.5 million, varying by classroom and region; franchise stores can achieve profitability with 100 to 150 students [4]