Jetsen(300182)

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捷成股份(300182) - 2021 Q2 - 季度财报
2021-08-29 16:00
Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,857,816,474.22, representing a 40.41% increase compared to CNY 1,323,101,587.95 in the same period last year[31]. - The net profit attributable to shareholders of the listed company reached CNY 303,308,554.02, a significant increase of 137.14% from CNY 127,901,859.30 in the previous year[31]. - The net profit after deducting non-recurring gains and losses was CNY 241,271,995.58, up 120.50% from CNY 109,420,603.25 in the same period last year[31]. - Basic earnings per share were CNY 0.1187, reflecting a 136.93% increase from CNY 0.0501 in the same period last year[31]. - Total operating revenue for the first half of 2021 reached ¥1,857,816,474.22, a significant increase of 40.4% compared to ¥1,323,101,587.95 in the same period of 2020[189]. - Operating profit for the first half of 2021 was ¥335,804,816.33, up from ¥115,864,904.40 in the first half of 2020, representing a growth of 189.5%[192]. - Net profit attributable to shareholders of the parent company for the first half of 2021 was ¥303,308,554.02, compared to ¥127,901,859.30 in the same period of 2020, an increase of 137.5%[192]. - Total comprehensive income for the first half of 2021 was ¥315,168,037.09, compared to ¥127,624,467.20 in the same period of 2020, an increase of 147.5%[194]. Cash Flow and Assets - The net cash flow from operating activities was CNY 1,031,263,343.75, an increase of 29.82% compared to CNY 794,407,945.44 in the previous year[31]. - The total assets at the end of the reporting period were CNY 10,870,718,471.21, a 1.33% increase from CNY 10,727,528,995.85 at the end of the previous year[31]. - The company's total assets decreased from ¥11,431,278,505.63 to ¥11,359,368,449.17, a decrease of approximately 0.6%[183]. - The company's current assets decreased to ¥4,104,013,893.50 from ¥4,265,561,383.52 in the previous year, reflecting a decline of approximately 3.78%[173]. - The company reported a net increase in cash and cash equivalents of 15,322,971.64 CNY, a decline of 93.83% compared to the previous year[54]. - Cash and cash equivalents decreased from ¥91,626,393.77 to ¥17,849,518.72, a decrease of approximately 80.5%[180]. Investments and Expenses - The company is strategically reducing investments in content production to focus on high-quality projects, emphasizing financial returns[44]. - Research and development expenses decreased by 49.73% to 10,821,437.92 CNY, as the company reduced R&D investments according to its plans[54]. - The investment amount for the reporting period was CNY 105,000,000, representing a 100% increase compared to the same period last year[68]. - The company reported an investment income of ¥65,583,433.11 in the first half of 2021, a turnaround from a loss of ¥18,013,276.31 in the same period of 2020[189]. Risks and Challenges - The company faces various risks, including policy risks and intensified market competition, which investors should be aware of[7]. - The company faces risks related to policy changes, market competition, and the sustainability of tax incentives, which could impact future performance[82][83]. - The company faces significant collection risks for accounts receivable and prepayments, as the business scale expands, leading to longer collection cycles[84]. - Since 2018, the financial environment has changed, increasing debt repayment pressure and making it more difficult to secure credit loans, which may lead to higher financing costs and repayment challenges[86]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 46,696, with a shareholding ratio of 5%[146]. - Xu Ziqian holds 19.67% of the shares, totaling 506,562,300 shares, with 126,640,575 shares under lock-up[146]. - The total number of shares is 2,574,960,807, with 1,966,139,701 shares being unrestricted, accounting for 76.36%[138]. - The largest shareholder, Xu Ziqian, has 260,000,000 shares pledged[146]. Corporate Governance - The company has not engaged in any significant asset or equity sales during the reporting period[76][79]. - The company has not conducted any repurchase transactions during the reporting period[154]. - The company has not engaged in any major related party transactions during the reporting period[112]. - The company has established an internal legal team and hired external lawyers to manage and mitigate litigation and arbitration risks, although these risks cannot be completely eliminated[86].
捷成股份(300182) - 2021 Q1 - 季度财报
2021-04-28 16:00
Financial Performance - The company's revenue for Q1 2021 was ¥740,136,960.46, representing a 38.53% increase compared to ¥534,271,489.48 in the same period last year[8]. - Net profit attributable to shareholders was ¥95,664,515.76, a significant increase of 118.10% from ¥43,863,537.24 year-on-year[8]. - Basic earnings per share were ¥0.0374, reflecting a 117.44% increase compared to ¥0.0172 in the same period last year[8]. - The company reported a significant increase in investment income, which rose to approximately ¥60.54 million, a staggering 1806.66% increase from ¥3.18 million in Q1 2020[25]. - The company reported a net loss of CNY 838,956,640.68 as of March 31, 2021, improving from a loss of CNY 934,621,156.44 at the end of 2020[61]. - The total comprehensive income attributable to the parent company is ¥95,788,333.85, significantly higher than ¥44,210,621.20 in the previous period[80]. Cash Flow - The net cash flow from operating activities reached ¥349,801,207.45, up 73.89% from ¥201,158,318.40 in the previous year[8]. - The cash inflow from operating activities totaled ¥504,881,452.55, compared to ¥381,810,077.81 in the previous period, showing strong operational cash generation[88]. - The cash flow from investment activities was approximately -¥329.95 million, a decrease of 78.32% compared to -¥185.04 million in the previous year, primarily due to increased copyright procurement[25]. - The company reported a net cash outflow from investing activities of -¥329,948,858.49, compared to -¥185,036,548.50 in the previous period, indicating increased investment activities[91]. - The cash inflow from operating activities was 24,383,004.97, a decrease from 367,144,491.99 in the previous period[95]. Assets and Liabilities - Total assets at the end of the reporting period were ¥10,948,780,328.90, a 2.06% increase from ¥10,727,528,995.85 at the end of the previous year[8]. - The company's total liabilities increased by 53.50% to approximately ¥350.77 million, mainly due to the reclassification of long-term borrowings[23]. - Total liabilities increased to CNY 4,447,891,650.18 from CNY 4,326,193,429.58, marking an increase of about 2.8%[58]. - The company's equity attributable to shareholders rose to CNY 6,366,259,447.84 from CNY 6,270,471,113.99, an increase of approximately 1.53%[61]. Operational Efficiency - The operating costs increased to approximately ¥603.71 million, a rise of 47.00% from ¥410.68 million in the same period last year[23]. - The company reduced its research and development expenses to approximately ¥5.52 million, a decrease of 47.55% compared to ¥10.53 million in the previous year[25]. - Research and development expenses for the current period were CNY 5,521,291.13, down from CNY 10,527,291.39, indicating a reduction of 47.5%[73]. Market and Industry Challenges - The company is facing significant policy risks in the digital copyright business due to the competitive nature of content rights acquisition in China's media market[30]. - The content production industry is under strict regulatory scrutiny, with potential penalties for non-compliance, which increases operational risks[31]. - The market competition is intensifying, particularly in copyright operations, which may lead to increased procurement costs and negatively impact future performance[32]. - The company is experiencing a structural imbalance in the film and television industry, with a surplus of general content but a shortage of high-quality productions[35]. Talent and Investment - The company has established measures to attract and retain talent, as the competition for skilled professionals is increasing[38]. - There is a risk of impairment related to goodwill and long-term equity investments due to fluctuations in the performance of acquired companies[39]. - The financial environment has changed since 2018, leading to increased debt repayment pressure and higher financing costs[41].
捷成股份(300182) - 2020 Q4 - 年度财报
2021-04-27 16:00
Financial Performance - The company's operating revenue for 2020 was ¥3,183,822,102.40, a decrease of 11.69% compared to ¥3,605,090,213.40 in 2019[25]. - The net profit attributable to shareholders for 2020 was -¥1,230,827,904.91, an improvement of 48.29% from -¥2,380,328,768.16 in 2019[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,250,285,586.69, showing a 49.68% improvement from -¥2,484,814,848.04 in 2019[25]. - The company's total assets at the end of 2020 were ¥10,727,528,995.85, down 15.75% from ¥12,733,276,437.52 at the end of 2019[25]. - The net assets attributable to shareholders decreased by 15.58% to ¥6,270,471,113.99 at the end of 2020 from ¥7,428,122,978.10 at the end of 2019[25]. - The company generated a net cash flow from operating activities of ¥1,827,801,815.04 in 2020, a decrease of 3.99% from ¥1,903,847,779.53 in 2019[25]. - The company reported a total of ¥104,486,079.88 in non-recurring gains for 2020, compared to ¥23,373,155.57 in 2019[32]. - The company achieved total operating revenue of CNY 318,382.21 million in 2020, a decrease of 11.69% compared to the previous year[62]. - The net profit attributable to shareholders was CNY -123,082.79 million, with an operating profit of CNY -123,561.87 million[62]. Strategic Focus and Operations - The company's strategic focus during the pandemic was on copyright operations, leading to a reduction in high-risk film production and technology projects[6]. - The company reported that the core competitiveness and key financial indicators of its main copyright business did not experience significant adverse changes, aligning with industry trends[6]. - With the recovery of cinemas and increased demand for new media copyrights, the company's profitability is expected to enhance further[6]. - The company is exploring new monetization models for copyright content through deeper operational cooperation with partners[6]. - The company aims to enhance its operational stability and risk resistance through multi-channel monetization capabilities[6]. - The company is actively adjusting its new media copyright distribution strategy to better meet existing customer needs[6]. - The company focused its strategic emphasis on new media copyright operations to solidify its leading position in the market[58]. - The company aims to leverage the opportunities presented by the 5G era to develop a multi-screen digital distribution model, providing exclusive content for various screens[123]. Challenges and Risks - The company faced challenges due to the pandemic, including delayed project implementations and extended customer payment cycles, impacting revenue and cash flow[6]. - The company emphasizes the importance of risk awareness among investors, highlighting potential risks such as policy changes and market competition[9]. - The company faces risks from intensified market competition, particularly in the copyright operation sector, as new media platforms may increase self-produced content[130]. - The company is exposed to policy risks, particularly in the copyright operation sector, as the regulatory environment evolves[126]. - The company is at risk of goodwill and long-term equity investment impairment due to potential performance fluctuations of acquired companies[134]. Investment and Development - The company is focusing on high-quality content production and cautious investment strategies in response to the long investment cycle and slow capital recovery in the industry[67]. - The company completed the construction of several ultra-high-definition platforms, laying a foundation for market expansion in the context of 5G technology[61]. - The company is actively pursuing new technology and product development, particularly in media management and 5G 4K/8K network management systems[91]. - The company has focused on developing modular products in audio and video technology, including non-linear editing and transcoding systems[91]. - The company aims to provide stable and long-term returns to investors, which influenced the decision to not distribute dividends in 2020[153]. Corporate Governance and Compliance - The company is committed to maintaining accurate and complete financial reporting, as stated by its management[5]. - The company has established an independent financial department and accounting system, ensuring compliance with financial regulations[169]. - The company guarantees the independence of its operations, assets, and governance structures, avoiding any interference from controlling entities[169]. - The company has committed to avoiding any competitive business activities that may harm its interests or those of its subsidiaries for a specified period[169]. - The company has established a commitment to fair pricing and market principles in related transactions, ensuring compliance with legal disclosure obligations[169]. Shareholder Relations and Profit Distribution - The company announced a profit distribution plan, with no cash dividends or bonus shares to be distributed to shareholders[9]. - The profit distribution plan for 2020 includes no cash dividends, no stock bonuses, and no capital reserve increase, consistent with the previous two years[153][154][155]. - The total cash dividend amount for 2020 was 0.00 yuan, which represents 0.00% of the net profit attributable to ordinary shareholders[156]. - The company has maintained a negative retained earnings balance, with a reported net loss of -1,230,827,904 yuan for 2020[156]. - The company has not engaged in any cash dividend distribution or stock bonuses for the past three years, reflecting a focus on long-term development[153][154][155].
捷成股份(300182) - 2020 Q3 - 季度财报
2020-10-29 16:00
Financial Performance - Net profit attributable to shareholders was CNY 76,671,506.27, down 15.65% year-on-year[8]. - Operating revenue for the period was CNY 641,362,285.31, a decline of 32.01% compared to the same period last year[8]. - Basic earnings per share were CNY 0.0300, down 15.73% compared to the same period last year[8]. - The net profit after deducting non-recurring gains and losses was CNY 61,034,585.87, down 29.45% year-on-year[8]. - The company reported a net profit increase, with undistributed profits rising to ¥500,780,114.04 from ¥296,206,748.47, an increase of 69%[56]. - The net profit for the current period is ¥203,816,252.06, compared to ¥304,880,880.31 in the previous period, indicating a decline of 33.1%[84]. - The net profit attributable to the parent company was ¥204,133,888.09, down from ¥308,609,515.28, reflecting a decrease of 33.8% year-over-year[88]. Cash Flow - The net cash flow from operating activities was CNY 149,449,898.15, a significant decrease of 77.21% year-on-year[8]. - The net cash flow from operating activities decreased by 21.69% to CNY 943,857,843.59 from CNY 1,205,302,102.72, primarily due to reduced operating receipts amid the pandemic[26]. - The net cash flow from operating activities was ¥943,857,843.59, down from ¥1,205,302,102.72, a decline of 21.7% year-over-year[98]. - Cash inflow from operating activities totaled ¥1,666,752,544.84, down from ¥2,549,236,603.40, a decrease of 34.6%[98]. - The net cash flow from financing activities was 38,719,645.25, a significant improvement from the previous period's negative cash flow of -261,393,312.70[108]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,407,655,427.92, a decrease of 2.56% compared to the end of the previous year[8]. - Total current assets amounted to ¥5,972,769,157.41, a decrease of 1.18% from ¥6,044,465,389.48 on December 31, 2019[47]. - Total liabilities decreased to ¥4,571,323,536.58, down 13.7% from ¥5,300,561,320.76[53]. - The company's equity attributable to shareholders increased to ¥7,831,414,761.12 from ¥7,428,122,978.10, a rise of 5.4%[56]. - The total assets increased to CNY 11,758,182,588.77 from CNY 11,323,050,708.39, representing a growth of about 4%[63]. - Total liabilities rose to CNY 3,914,667,228.47, up from CNY 3,431,792,429.67, marking an increase of approximately 14%[63]. Shareholder Information - The company reported a total of 47,788 common shareholders at the end of the reporting period[12]. - Major shareholder Xu Ziqian held 19.67% of the shares, totaling 506,562,300 shares[12]. Research and Development - Development expenses decreased by 74.89% to CNY 9,789,287.76 from CNY 38,979,593.97, mainly due to reduced R&D investment impacted by the pandemic[23]. - Research and development expenses for the quarter were CNY 9,927,071.78, down from CNY 11,098,617.89, suggesting a potential shift in R&D strategy[66]. - Research and development expenses for the current period are ¥31,451,900.36, a decrease of 26.2% from ¥42,596,107.05 in the previous period[81]. Strategic Initiatives - The company focused on copyright operations and content distribution, emphasizing its core business and solidifying its leading position in new media copyright[27]. - The company signed a three-year cooperation agreement with China Mobile for a guaranteed revenue-sharing model, enhancing profitability through content operations[30]. - A private placement of A-shares was approved to raise up to RMB 200 million for copyright operations and media projects[31]. - The company is collaborating with Huawei to leverage 5G opportunities for content operations, aiming for broader market expansion[30]. Financial Challenges - The company recorded an investment loss of CNY 8,691,582.09, compared to a gain of CNY 2,463,828.93 in the previous period, highlighting challenges in investment performance[66]. - The investment loss for the current period is -¥26,704,858.40, a significant decline from a gain of ¥24,097,656.12 in the previous period[84]. - The company reported a net loss of ¥47,680,245.21 for the period, compared to a loss of ¥33,380,389.96 in the same quarter last year[92]. Compliance and Governance - The company has not reported any violations regarding external guarantees or non-operational fund occupation during the reporting period[38][39]. - The company has not undergone an audit for the Q3 report[126].
捷成股份(300182) - 2020 Q2 - 季度财报
2020-08-27 16:00
Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,323,101,587.95, a decrease of 21.99% compared to the same period last year[24]. - The net profit attributable to shareholders of the listed company was CNY 127,901,859.30, down 40.78% year-on-year[24]. - The net profit after deducting non-recurring gains and losses was CNY 109,420,603.25, a decline of 49.04% compared to the previous year[24]. - Basic earnings per share were CNY 0.0501, down 40.71% from CNY 0.0845 in the same period last year[24]. - The weighted average return on net assets was 1.71%, a decrease of 0.47% compared to the previous year[24]. - Revenue from new media copyright operations and distribution was CNY 1,023,381,858.93, down 23.38% year-on-year, while net profit increased by 10.82% to CNY 268,891,737.7[51]. - The company's operating revenue for the current period is ¥1,323,101,587.95, a decrease of 21.99% compared to ¥1,695,975,394.22 in the same period last year, primarily due to the impact of COVID-19 and macroeconomic conditions[68]. - Operating costs decreased by 23.08% to ¥907,611,876.76 from ¥1,179,907,277.77 in the previous year, attributed to reduced revenue from new media copyright operations and film content production[68]. Cash Flow and Assets - The net cash flow from operating activities increased by 44.57% to CNY 794,407,945.44[24]. - The company's cash and cash equivalents increased by 175.80% to ¥248,395,865.88, compared to a decrease of ¥327,683,537.46 in the previous year, driven by higher net cash inflow from operating activities[72]. - The company's accounts receivable decreased by ¥1,741,923,914.36, with an increase in bad debt provisions, resulting in a net decrease of 44.36%[78]. - The inventory increased by 27.32% to ¥974,128,992.42, primarily due to ongoing productions of various projects[78]. - The total assets at the end of the reporting period were CNY 12,423,326,662.40, a decrease of 2.43% from the end of the previous year[24]. - The net assets attributable to shareholders of the listed company increased by 1.73% to CNY 7,556,261,241.79[24]. Strategic Initiatives - The company plans to focus on content investment and production as a core growth driver, leveraging intellectual property rights for new growth opportunities[61]. - The company is investing in 5G and 4K/8K technology for audio and video services, aiming to develop new media solutions[57]. - The company has established long-term partnerships with major clients, including Tencent, Youku, and iQIYI, ensuring a stable revenue stream[35]. - The company has expanded its digital education services through the creation of the "Jiecheng Digital Education Cloud Platform," integrating online and offline education[36]. - The company plans to launch several new TV series and films in the second half of 2020, including "Dear Military Uniform" and "Northeast Past: Love Song 1996"[63][66]. Risks and Challenges - The company faces various risks including market risks, policy risks, and potential impacts from the pandemic[7]. - The competitive landscape in the copyright operation sector is intensifying, with potential increases in content procurement costs due to new entrants and existing competitors expanding their offerings[101]. - The company is at risk from piracy and copyright infringement, which could negatively impact its business development and profitability despite increased enforcement efforts[105]. - The company faces increased market competition in the audio-visual technology sector, which is experiencing rapid growth outside of traditional broadcasting, leading to heightened risks of competition[103]. - The company recognizes the importance of retaining talented professionals to maintain competitive advantages, and faces risks related to talent retention amid increasing market competition[106]. Corporate Governance and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The total number of ordinary shareholders at the end of the reporting period was 48,406, with a significant decrease of 57,289,900 shares held by the largest shareholder, Xu Ziquan, who owns 22.97% of the shares[173]. - Xu Ziquan holds 591,562,300 shares, while the second-largest shareholder, Chen Tonggang, holds 77,249,010 shares, representing 3.00% of the total shares[173]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[181]. - The company has not issued any preferred shares or convertible bonds during the reporting period[185][189]. Innovation and Development - The company has integrated over 50,000 hours of new media copyrights, establishing itself as a leader in the domestic new media copyright operation industry[35]. - The company has received multiple awards for its innovations in ultra-high-definition video technology, including the "Product and Solution Innovation Award" at the China Ultra HD Video Industry Alliance[45]. - The company has developed a comprehensive audio-visual technology service that is widely adopted across various industries, including broadcasting and new media[36]. - The company has built a leading position in the integration of media technology, developing several provincial-level integrated new media platforms[47]. Financial Management - The company reported a significant decrease in sales and marketing expenses by 32.23% to ¥27,081,304.62, mainly due to reduced travel and marketing costs during the pandemic[72]. - The company reported a total of 58,891,808 shares outstanding, with no new shares issued during the period[197]. - The company has not utilized any fundraising during the reporting period, indicating a focus on internal financing[90]. - The company has engaged in acquisitions to expand its business scope, but faces potential goodwill impairment risks if the acquired companies experience performance fluctuations[107].
捷成股份(300182) - 2020 Q1 - 季度财报
2020-04-28 16:00
Financial Performance - Total revenue for Q1 2020 was ¥534,271,489.48, a decrease of 33.54% compared to ¥803,935,884.96 in the same period last year[8] - Net profit attributable to shareholders was ¥43,863,537.24, down 67.98% from ¥136,980,730.69 year-on-year[8] - Net profit excluding non-recurring gains and losses was ¥35,632,843.16, a decline of 72.61% compared to ¥130,082,805.73 in the previous year[8] - Basic earnings per share decreased to ¥0.0172, down 67.97% from ¥0.0537 year-on-year[8] - Operating revenue for Q1 2020 was ¥534,271,489.48, a decline of 33.54% compared to ¥803,935,884.96 in Q1 2019, mainly due to the impact of the COVID-19 pandemic[25] - The net profit for the period was CNY 43,170,536.52, compared to CNY 136,115,122.40 in the same period last year, reflecting a decline of 68.3%[74] Cash Flow and Liquidity - Operating cash flow for the period was ¥201,158,318.40, an increase of 810.05% from ¥22,104,178.01 in the same period last year[8] - The net cash flow from operating activities increased by 810.05%, from ¥22,104,178.01 to ¥201,158,318.40, attributed to reduced expenditures on goods and lower tax payments[28] - The company's cash and cash equivalents decreased by 43.93%, from ¥172,784,365.55 to ¥96,885,211.62, primarily due to increased cash outflows for debt repayment and financing lease payments[25] - The cash received from sales of goods and services was ¥349,383,193.85, down from ¥594,708,710.82 in the previous period, indicating a decline in cash inflow from operations[86] - The net cash flow from financing activities was -90,858,366.75 yuan, a significant improvement from -269,752,740.86 yuan in the previous period, indicating better cash management[91] - Cash and cash equivalents at the end of the period decreased to 93,696,862.90 yuan from 168,287,816.77 yuan at the beginning of the period, showing a decline in liquidity[91] Assets and Liabilities - Total assets at the end of the period were ¥12,688,199,276.45, a slight decrease of 0.35% from ¥12,733,276,437.52 at the end of the previous year[8] - The total liabilities decreased to CNY 5,211,966,539.21 from CNY 5,300,561,320.76, reflecting a reduction of approximately 1.67%[58] - The company's total assets increased to CNY 11,741,763,451.46 from CNY 11,323,050,708.39, representing a growth of 3.7%[68] - Current liabilities rose to CNY 3,275,654,642.29, an increase of 9.5% from CNY 2,992,239,667.74[68] - The total liabilities increased to CNY 3,859,951,591.19 from CNY 3,431,792,429.67, indicating a rise of 12.5%[68] Shareholder Information - The total number of ordinary shareholders at the end of the period was 40,382[12] - The largest shareholder, Xu Ziquan, held 24.06% of the shares, totaling 619,562,300 shares[13] - Net assets attributable to shareholders increased to ¥7,472,333,599.30, up 0.60% from ¥7,428,122,978.10 at the end of the previous year[8] Research and Development - The company's R&D expenses decreased by 41.73%, from ¥18,065,882.73 to ¥10,527,291.39, indicating a reduction in investment in research and development activities[25] - The company reported a decrease in research and development expenses to CNY 10,527,291.39 from CNY 18,065,882.73, a reduction of 41.5%[71] Market and Competition - The digital culture sector is experiencing rapid growth in China's digital copyright business, benefiting from policy support and technological advancements, with the market evolving into a user competition landscape[32] - The company faces risks from intensified market competition in the digital culture sector, with increasing costs for copyright procurement due to the entry of new players and rising demand for high-quality content[34] - The audio-visual technology sector is expanding due to significant demand from non-broadcast industries, creating broader market opportunities despite competitive pressures[35] Government Support and Corporate Responsibility - The company received government subsidies amounting to ¥9,838,699.47, primarily related to tax refunds[8] - The company provided free platforms, resources, and services to schools during the COVID-19 pandemic, demonstrating its commitment to corporate social responsibility[29] Financial Strategy and Risks - The deferred income was fully eliminated, indicating a shift in financial strategy to reduce liabilities[25] - The company is at risk of goodwill impairment due to fluctuations in the performance of acquired companies, which could impact future earnings[40] - The company is implementing measures to manage accounts receivable effectively, as the growing scale of receivables and long collection cycles pose financial risks[41] - The company is under pressure from a changing financial environment since 2018, facing challenges in debt repayment and increasing financing costs[42] - The COVID-19 pandemic has caused temporary disruptions in operations, including delayed film releases and reduced sales orders, impacting overall business performance[43]
捷成股份(300182) - 2019 Q4 - 年度财报
2020-04-27 16:00
Financial Performance - The company's operating revenue for 2019 was ¥3,605,090,213.40, a decrease of 28.30% compared to ¥5,028,229,484.04 in 2018[22] - The net profit attributable to shareholders was -¥2,380,328,768.16, representing a decline of 2,641.87% from ¥93,644,829.68 in the previous year[22] - The net cash flow from operating activities was ¥1,903,847,779.53, down by 5.87% from ¥2,022,639,403.35 in 2018[22] - The total assets at the end of 2019 amounted to ¥12,733,276,437.52, a decrease of 20.30% from ¥15,976,645,346.86 in 2018[22] - The net assets attributable to shareholders decreased by 24.25% to ¥7,428,122,978.10 from ¥9,806,219,456.57 in 2018[22] - The basic earnings per share for 2019 was -¥0.9300, a significant drop from ¥0.0367 in 2018[22] - The weighted average return on net assets was -27.63%, down from 0.95% in the previous year[22] - The company reported a significant loss in the fourth quarter, with a net profit attributable to shareholders of -¥2,687,206,434.60[23] - The revenue from film and television content production was ¥191,240,279.60, a significant decline of 83.40% from the previous year[79] - The company’s revenue from audiovisual overall solutions was ¥435,316,758.55, down 44.53% year-on-year[79] Dividend Policy - The company plans to distribute no cash dividends and no bonus shares for the year[6] - The total distributable profit for the company was reported as -2,380,328,768.16 yuan, indicating a lack of available profits for distribution[159] - The company has not issued any cash dividends or bonus shares in the past three years, maintaining a conservative approach to profit distribution[162] - The company did not distribute cash dividends for the years 2018 and 2019, while in 2017, it distributed a cash dividend of 0.42 RMB per share, totaling 108,148,353.89 RMB, which represented 10.07% of the net profit attributable to ordinary shareholders[163] - The company has not proposed any cash dividend distribution plan for the reporting period despite having positive distributable profits for ordinary shareholders[163] Business Strategy and Development - The company is focusing on expanding its digital culture and technology sectors, including 4K/8K ultra-high-definition and media integration technologies[35] - The company is developing a digital education cloud platform aimed at integrating in-school education with online education[37] - The company is leveraging its leading audio-visual technology to support media transformation under the national media integration strategy[37] - The company is actively expanding its international presence and has established partnerships with over 200 countries and regions for content distribution[60] - The company aims to expand its influence in the film and television new media distribution sector, increasing its library of Hong Kong and domestic films to strengthen its market position[128] - The company is focusing on developing new customer groups and expanding copyright business in live streaming, short video platforms, and educational applications[128] Risks and Challenges - The company faces various risks including policy risks, intensified market competition, and potential impacts from the COVID-19 pandemic[6] - The company is exposed to potential risks from changes in tax incentive policies, particularly for its subsidiaries located in Xinjiang, which currently benefit from government support[140] - The company faces a significant accounts receivable collection risk due to the long collection cycle and large scale of accounts receivable and prepayments, necessitating a robust management and collection system[144] - Since 2018, the financial environment has changed, leading to increased debt repayment pressure and higher financing costs, which may impact the company's liquidity management and ability to meet debt obligations[145] - The COVID-19 pandemic has caused temporary disruptions to the company's operations, including delayed film releases and reduced sales orders compared to the previous year[146] Research and Development - The company focuses on two main areas for new product and technology development: modular audio and video professional technology products and platform-level products, including media management and 5G+ 4K/8K non-linear editing systems[99] - In 2019, the company invested approximately ¥96 million in R&D, which accounted for 2.66% of its operating revenue, showing an increase from 2.33% in 2018[103] - The number of R&D personnel decreased to 610 in 2019, representing 66.38% of the total workforce, down from 75.65% in 2018[103] Corporate Governance and Compliance - The company has established a complete corporate governance structure and ensures that its management operates independently from other controlled entities[173] - The company has committed to ensuring that there are no false records, misleading statements, or significant omissions that could cause losses to investors[170] - The company guarantees the independence of its operations, including financial independence and the establishment of an independent financial department[173] - The company has confirmed that it has fulfilled its capital contribution obligations to Huashi Network and that there are no disputes regarding the ownership of shares[173] - The company has not reported any violations of commitments made by its actual controllers and shareholders[167] Financial Reporting and Audit - The company’s financial statements have been prepared in accordance with the new financial instrument standards effective from January 1, 2019[192] - The company has not encountered any non-standard audit reports during the reporting period[192] - The company is compliant with the new financial reporting standards as mandated by the Ministry of Finance[193] - The domestic accounting firm Tianheng has been retained for auditing services, with a fee of 2.3 million yuan for the year[198] - There were no significant lawsuits or arbitration matters during the reporting period[199]
捷成股份(300182) - 2019 Q3 - 季度财报
2019-10-25 16:00
Financial Performance - Net profit attributable to shareholders decreased by 58.95% to CNY 90,899,906.80 for the reporting period[8] - Operating revenue for the reporting period was CNY 943,361,509.97, down 22.61% year-on-year[8] - Basic earnings per share fell by 58.17% to CNY 0.0356[8] - The company reported a decrease in net profit for the year-to-date by 61.29% to CNY 306,877,666.44[8] - The net profit excluding non-recurring gains and losses was CNY 86,513,049.22, a decrease of 60.40% year-on-year[8] - The total revenue for the first three quarters of 2019 was CNY 2,639,336,904.19, a decrease of 24.47% compared to the same period last year[27] - The net profit attributable to the parent company for the same period was CNY 306,877,666.44[27] - Net profit for Q3 2019 was CNY 90,765,406.14, compared to CNY 221,469,777.50 in Q3 2018, indicating a decline of 59.0%[53] - The total comprehensive income for Q3 2019 was ¥306,612,729.15, down from ¥779,931,993.28 in Q3 2018, reflecting a decline of 60.7%[63] Assets and Liabilities - Total assets increased by 1.96% to CNY 16,290,271,591.77 compared to the end of the previous year[8] - Total current assets increased to CNY 8,013,394,267.20 as of September 30, 2019, compared to CNY 7,964,778,479.11 as of December 31, 2018, reflecting a growth of approximately 0.36%[43] - The company's total assets reached CNY 16,290,271,591.77, compared to CNY 15,976,645,346.86, reflecting an increase of approximately 1.96%[45] - The company's total liabilities decreased by 61.55% in tax payable to CNY 93,096,578 from CNY 242,144,166, due to reduced VAT and corporate income tax payments[22] - Total liabilities increased to CNY 6,166,291,698.25 from CNY 6,165,086,936.33, a marginal increase of 0.02%[44] - Current liabilities totaled CNY 3,216,358,163.02, a marginal decrease from CNY 3,237,058,629.31 in the previous year[50] - The total liabilities decreased to CNY 3,612,256,773.59 from CNY 3,822,718,991.24, reflecting a decline of 5.5%[50] Cash Flow - The net cash flow from operating activities increased by 11.23% to CNY 1,205,302,102.72 year-to-date[8] - The net cash flow from operating activities for the current period is CNY 1,205,302,102.72, an increase of 11.2% compared to CNY 1,083,640,148.50 in the previous period[72] - Total cash inflow from operating activities is CNY 2,549,236,603.40, down 12.7% from CNY 2,920,156,536.05 in the previous period[70] - Cash outflow from operating activities totaled CNY 1,343,934,500.68, a decrease of 26.8% compared to CNY 1,836,516,387.55 in the previous period[72] - The net cash flow from investing activities is CNY -1,090,632,562.70, an improvement from CNY -1,445,698,074.94 in the previous period[72] - Cash inflow from financing activities is CNY 1,804,286,750.27, down 21.7% from CNY 2,303,819,703.70 in the previous period[72] - The net cash flow from financing activities is CNY -240,131,206.61, compared to a positive cash flow of CNY 37,623,671.20 in the previous period[73] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,025[13] - The largest shareholder, Xu Ziqian, holds 25.20% of the shares, totaling 648,852,200 shares[13] Inventory and Receivables - Accounts receivable decreased by 37.15% to CNY 6,650,000 from CNY 10,581,106 due to the maturity of bank acceptance bills[22] - Inventory increased by 31.79% to CNY 973,627,269 from CNY 738,787,966, primarily due to increased costs of film inventory[22] - Accounts receivable slightly decreased to CNY 3,464,463,726.61 from CNY 3,504,808,814.88, a reduction of approximately 1.15%[41] Research and Development - Research and development expenses decreased by 32.69% to CNY 42,596,107 from CNY 63,279,304, reflecting reduced R&D investment[24] - The company reported a decrease in research and development expenses to CNY 11,098,617.89 from CNY 16,480,804.79, a reduction of 32.5%[52] - Research and development expenses for Q3 2019 were ¥29,092,461.60, down from ¥37,800,017.66 in the same period last year, a reduction of 23.2%[67] Other Income and Expenses - The company reported a significant increase in other income to CNY 10,988,386.32 from CNY 3,316,490.37, an increase of 231.0%[52] - The company incurred financial expenses of ¥27,170,806.89 in Q3 2019, which is an increase from ¥14,884,950.60 in Q3 2018, indicating rising costs[67] - The company reported a credit impairment loss of ¥74,493,089.07 in Q3 2019, indicating potential challenges in asset quality[67] - The company reported a significant asset impairment loss of ¥43,794,880.48 in Q3 2019, highlighting potential issues with asset valuation[67]
捷成股份(300182) - 2019 Q2 - 季度财报
2019-08-29 16:00
Financial Performance - Total revenue for the first half of 2019 was CNY 1,695,975,394.22, a decrease of 25.46% compared to CNY 2,275,342,072.04 in the same period last year[22] - Net profit attributable to shareholders was CNY 215,977,759.64, down 62.20% from CNY 571,390,442.91 year-on-year[22] - Basic earnings per share decreased by 62.18% to CNY 0.0845 from CNY 0.2234 in the same period last year[22] - The company achieved total operating revenue of CNY 1,695,975,394.22, a decrease of 25.46% compared to the same period last year[49] - The net profit attributable to the parent company was CNY 215,977,759.64, with a net cash flow from operating activities of CNY 549,502,696.57, an increase of 29.59% year-on-year[49] - Operating costs decreased by 16.09% to ¥1,179,907,277.77 from ¥1,406,089,676.93 year-on-year[72] - Research and development investment fell by 32.98% to ¥31,497,489.16, down from ¥46,997,995.73 in the previous year[72] Cash Flow and Assets - Net cash flow from operating activities increased by 29.59% to CNY 549,502,696.57, compared to CNY 424,026,379.08 in the previous year[22] - Total assets at the end of the reporting period were CNY 16,490,681,979.66, an increase of 3.22% from CNY 15,976,645,346.86 at the end of the previous year[22] - Cash and cash equivalents at the end of the reporting period amounted to ¥210,280,746.73, a decrease of 1.68% compared to the previous year, where it was ¥481,759,478.68[81] - Accounts receivable increased to ¥3,927,162,192.96, representing 23.81% of total assets, up 5.22% from ¥3,023,794,660.91, which was 18.59% of total assets last year[81] - Inventory rose to ¥765,126,294.81, accounting for 4.64% of total assets, an increase of 1.34% from ¥537,070,095.68, which was 3.30% of total assets last year[81] - Long-term equity investments reached ¥1,106,037,122.81, representing 6.71% of total assets, up 0.35% from ¥1,034,788,219.12, which was 6.36% of total assets last year[81] Strategic Initiatives - The company operates in the digital culture sector, holding over 50,000 hours of exclusive new media copyrights, making it the largest new media copyright operator in the country[32] - The digital education cloud platform has been launched in multiple cities, receiving widespread application and praise, integrating traditional education with online education[33] - The company has made significant advancements in key technology areas, acquiring multiple new software copyrights and patents during the reporting period[38] - The company continues to explore digital distribution models across various media terminals, including the internet and digital television[32] - The company aims to maintain stable office operations by leasing property from a related party for three years[127] Partnerships and Acquisitions - The company maintains strong strategic partnerships with major clients, including Sohu, Tencent, and Huawei, enhancing its market position[32] - The company established a strategic partnership with Mattel, acquiring nearly 100 well-known IPs including "Thomas & Friends" and "Barbie" for children's entertainment[50] - The company fully acquired Tianxia TV, enhancing its overseas strategic layout and global copyright distribution strategy[50] - The company partnered with Huawei for comprehensive content cooperation, becoming a joint operating partner for domestic films, TV series, and animation content[50] Risks and Challenges - The company faces various risks including market risks, policy risks, and debt financing risks[6] - The company faces intensified market competition in copyright operations due to the rapid growth of the new media industry and increasing demand for specialized film content, which may lead to higher copyright procurement costs[101] - The film industry is experiencing a structural imbalance with an oversupply of general content and a shortage of high-quality productions, leading to increased competition as audience expectations rise[104] - There is a risk of goodwill impairment due to the company's aggressive acquisition strategy, which has led to a significant increase in goodwill, especially as many acquired companies have passed their performance commitment periods[107] Shareholder and Equity Information - The company has not distributed cash dividends or bonus shares for the reporting period, indicating a focus on reinvestment rather than immediate shareholder returns[112] - The total number of ordinary shareholders at the end of the reporting period was 35,314[165] - The largest shareholder, Xu Ziquan, holds 25.20% of the shares, totaling 648,852,200 shares[165] - The total number of restricted shares at the beginning of the period was 836,904,627, with 52,976,827 shares added during the period[163] Debt and Financing - The company issued two bonds with a total balance of 31,800 million yuan, with interest rates of 7.50%[190] - The company raised a total of 1.2 billion CNY through bond issuance, with all funds allocated for working capital[194] - The company has committed to using the raised funds strictly according to the disclosed purposes in the bond prospectus[197] - The company plans to enhance asset-liability management and liquidity management to ensure timely interest and principal payments[199]
捷成股份(300182) - 2019 Q1 - 季度财报
2019-04-28 16:00
Financial Performance - Total revenue for Q1 2019 was ¥803,935,884.96, a decrease of 14.42% compared to ¥939,431,760.10 in the same period last year[8]. - Net profit attributable to shareholders was ¥136,980,730.69, down 32.16% from ¥201,910,003.11 year-on-year[8]. - Basic earnings per share decreased by 31.51% to ¥0.0537 from ¥0.0784 in the same period last year[8]. - The company reported a net profit of 136.11 million yuan for the first quarter of 2019, a decrease of 32.52% compared to the same period last year[21]. - Total operating revenue for the first quarter was 803.94 million yuan, with an operating profit of 139.03 million yuan[22]. - The company's operating profit for the current period is 139,031,276.05, a decrease from 207,138,154.42 in the previous period, representing a decline of approximately 32.9%[73]. - The net profit for the current period is 136,115,122.40, down from 201,699,852.68 in the previous period, indicating a decrease of about 32.5%[73]. - The total comprehensive income for the current period is 156,449,462.21, compared to 201,699,597.33 in the previous period, reflecting a decline of approximately 22.4%[76]. Cash Flow - Net cash flow from operating activities was ¥22,104,178.01, a significant improvement from a negative cash flow of ¥177,268,255.97 in the previous year, marking a 112.47% change[8]. - The company reported a net cash flow from operating activities of 594,708,710.82, compared to 661,988,600.07 in the previous period, indicating a decrease of approximately 10.1%[84]. - Total cash inflow from operating activities amounted to 856,977,191.45, compared to 773,489,986.63 in the prior period[87]. - Cash outflow from operating activities totaled 834,873,013.44, down from 950,758,242.60 in the previous period[87]. - The net cash flow from investing activities was -166,599,824.32, compared to -566,103,515.63 in the prior period, indicating reduced investment losses[90]. - Cash inflow from financing activities was 578,384,745.75, while cash outflow was 848,137,486.61, resulting in a net cash flow of -269,752,740.86[90]. Assets and Liabilities - Total assets increased by 2.26% to ¥16,337,511,402.01 from ¥15,976,645,346.86 at the end of the previous year[8]. - The company reported a total current asset of CNY 8,084,107,228.39 as of March 31, 2019, compared to CNY 7,964,778,479.11 at the end of 2018, reflecting an increase of approximately 1.43%[50]. - The total liabilities increased to CNY 6,369,503,529.27 from CNY 6,165,086,936.33, showing an increase of approximately 3.31%[56]. - The company reported a total liability of ¥6,165,086,936.33, with current liabilities at ¥5,128,426,574.40[104]. - The company's total liabilities decreased to CNY 3,543,963,034.48 from CNY 3,822,718,991.24, a reduction of about 7.3%[66]. Shareholder Information - The top shareholder, Xu Ziqian, holds 31.57% of the shares, totaling 812,852,200 shares[11]. - The total equity attributable to shareholders increased to CNY 9,963,534,527.07 from CNY 9,806,219,456.57, reflecting a growth of about 1.6%[60]. - The company reported a total equity of CNY 9,968,007,872.74 as of March 31, 2019, down from CNY 10,811,558,410.53, reflecting a decrease of approximately 7.77%[56]. Investment and Development - Investment income increased by 683.73% year-on-year, attributed to the growth in net profits from joint ventures[21]. - The company plans to further develop cloud services, cloud security, artificial intelligence, and big data applications in response to market changes[27]. - The company aims to strengthen its position in the domestic new media copyright operation market and expand internationally[23]. - The company has established long-term stable partnerships with domestic video internet, mobile internet, and various digital television platforms[26]. Regulatory and Market Environment - The company is subject to strict regulatory oversight from national laws and policies, which could impact its production, import, and distribution processes[32]. - The company faces increased market competition in copyright operation due to rapid growth in the new media industry, leading to potential increases in copyright procurement costs[33]. - The company has experienced a structural imbalance in the film and television industry, with an oversupply of content but a shortage of high-quality productions[33]. - The company benefits from favorable national policies that support the cultural industry, but any significant changes in macroeconomic or industry policies could adversely affect its operations[32]. Financial Management - The company has established a comprehensive system for managing and collecting accounts receivable to mitigate financial risks[37]. - The company is actively managing accounts receivable risks due to the long collection cycles associated with its expanding business[37]. - The controlling shareholder and related parties have fully repaid the occupied funds, with a remaining interest-free loan balance of CNY 123 million as of the report date[46]. - The company plans to strengthen the execution and supervision of its fund management system to prevent violations[46].