Financial Performance - The company reported a loss in 2020 due to low demand in traditional business and high costs associated with new product development and talent acquisition [7]. - The company did not achieve significant growth in main business revenue, with ongoing efforts to strengthen cash flow and control costs [9]. - The company's operating revenue for 2020 was RMB 127,107,789.21, a decrease of 22.62% compared to RMB 164,272,181.33 in 2019 [30]. - The net profit attributable to shareholders was a loss of RMB 48,927,563.12, an improvement of 68.95% from a loss of RMB 157,573,412.49 in the previous year [30]. - The net cash flow from operating activities was RMB -16,025,306.16, a decline of 151.84% compared to RMB 30,911,445.92 in 2019 [30]. - The basic earnings per share were RMB -0.1184, showing a 68.96% improvement from RMB -0.3814 in 2019 [30]. - The total assets at the end of 2020 were RMB 393,783,428.59, down 19.38% from RMB 488,422,957.50 at the end of 2019 [30]. - The net assets attributable to shareholders decreased by 20.56% to RMB 244,424,560.52 from RMB 307,673,646.25 in 2019 [30]. - The company reported a quarterly revenue of RMB 34,309,690.05 in Q4 2020, with a net profit loss of RMB -34,179,062.63 for the same quarter [32]. - The company reported a net profit of 22,607,640.08 yuan for the year 2020, a significant increase from 4,126,870.21 yuan in 2019, marking a growth of approximately 448% [36]. - The company reported a net profit attributable to shareholders of CNY -48.93 million, an increase of 68.95% year-on-year [63]. Research and Development - The company plans to increase R&D investment to prepare for the development of 5G services and enhance its core competitiveness in the market [10]. - The company's core products are self-developed, and it emphasizes the importance of maintaining advanced technology levels through continuous R&D investment [12]. - The average R&D investment over the past three years has reached 17.76% of sales revenue, reflecting the company's commitment to innovation and product development [55]. - Research and development expenses decreased by 42.56% to approximately ¥23.46 million, primarily due to strategic adjustments and the impact of COVID-19 [81]. - The number of R&D personnel decreased to 105 in 2020, accounting for 48.17% of the total workforce, down from 64.45% in 2019 [88]. - The capitalized R&D expenditure was reported at 0.00% of total R&D investment in 2020, indicating no costs were capitalized during the year [89]. Market and Product Development - The establishment of China Broadcasting Network Co., Ltd. on October 12, 2020, marks a significant industry transition towards 5G communication, which the company views optimistically for future market growth [9]. - The company has introduced new products and expanded its business categories, laying a solid foundation for future development in the 5G and audio-visual integration communication sectors [9]. - The company is exploring new product development and market expansion strategies to improve financial performance in the coming years [30]. - The company has indicated a focus on technological advancements and potential mergers and acquisitions to enhance its market position [30]. - The company is focusing on 5G audio and video integration applications and VR hardware development, while reducing traditional set-top box business [73]. - The company launched an IP video platform solution to support various video services, integrating big data and AI for enhanced operational insights [82]. - The company launched the "JiaChuang Cloud Enterprise Broadcast" product, which provides a fully integrated live streaming solution for government and enterprise users, featuring a portable terminal for easy global live connections [86]. - The company has developed a VR180° camera system capable of delivering 12K/30fps and 8K/60fps VR live streaming, targeting sports and influencer live streaming applications [87]. Strategic Partnerships and Collaborations - The company has established a telecommunications operator division to adapt to industry changes and enhance its service capabilities [7]. - The company has formed partnerships with major telecom operators to explore VR entertainment and cloud gaming applications [64]. - The company aims to assist telecom operators in value-added operations through video technology, leveraging its long-term experience in the broadcasting sector [39]. - The company has established collaborations with multiple broadcasting enterprises to implement end-to-end panoramic video platforms, enhancing service offerings for users [90]. Operational Challenges and Risks - The company faces risks related to market competition, technology upgrades, and potential policy changes affecting its IPTV business [14][16]. - The company's financial performance is subject to seasonal fluctuations, with typically lower revenues and profits in the first quarter compared to other quarters [13]. - The company has acknowledged that the expected benefits from certain projects have not been realized due to industry slowdowns, but anticipates future revenue growth as market demand increases [108]. Governance and Compliance - The company has maintained transparency and integrity in its communications with investors, adhering to relevant regulations for information disclosure [161]. - The company has not faced any major litigation or arbitration matters during the reporting period [142]. - There were no significant penalties or rectification measures during the reporting period [144]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period [136]. - The company has not reported any significant changes in the measurement attributes of its major assets during the reporting period [102]. Shareholder Information - The total number of shares before the recent changes was 413,100,000, with 21.95% being limited shares and 78.05% being unrestricted shares [170]. - The company has seen a decrease of 11,200,775 limited shares, resulting in a new total of 79,466,297 limited shares [170]. - The total number of shareholders at the end of the reporting period was 23,327, an increase from 21,685 at the end of the previous month [172]. - The largest shareholder, Chen Kunjian, holds 24.06% of the shares, totaling 99,390,668 shares, with a decrease of 4,865,300 shares during the reporting period [173]. - The company reported no changes in the controlling shareholder or actual controller during the reporting period [175][176]. Employee and Management Information - The total remuneration paid to the board of directors, supervisors, and senior management in 2020 amounted to CNY 3.5439 million [193]. - The company employed a total of 218 staff members, with 144 in the parent company and 74 in major subsidiaries [196]. - The educational background of employees includes 13 with master's degrees, 122 with bachelor's degrees, 73 with associate degrees, and 10 with high school or lower education [197]. - The company has established a comprehensive training system to enhance employee skills and meet rapid development needs [199].

Financial Performance - The company's revenue for Q1 2021 was ¥42,847,713.31, representing a 55.90% increase compared to ¥27,484,909.74 in the same period last year[9] - The net profit attributable to shareholders was ¥3,758,488.26, a significant turnaround from a loss of ¥7,725,617.47 in the previous year, marking a 148.65% improvement[9] - The net profit after deducting non-recurring gains and losses was ¥2,424,923.12, compared to a loss of ¥9,090,172.36 last year, reflecting a 126.68% increase[9] - Basic earnings per share improved to ¥0.0091 from -¥0.0187, indicating a 148.66% increase[9] - The total operating revenue for Q1 2021 was CNY 42,847,713.31, an increase of 55.9% compared to CNY 27,484,909.74 in the same period last year[48] - The operating profit for Q1 2021 was CNY 3,767,287.70, a turnaround from a loss of CNY 7,699,169.45 in the same period last year[50] - The net profit for Q1 2021 reached CNY 3,780,857.58, compared to a net loss of CNY 7,730,926.56 in Q1 2020, reflecting a substantial improvement[50] - The total comprehensive income for Q1 2021 was CNY 3,777,703.37, compared to a loss of CNY 7,837,103.20 in the previous year[51] Cash Flow and Assets - The company's cash flow from operating activities was -¥15,797,015.02, a decline of 40.02% from -¥11,281,722.05 in the previous year[9] - The company's cash and cash equivalents decreased by 41.14% to ¥16,459,600.00, primarily due to acquisition payments and delayed customer payments[16] - The company has a cash balance of approximately ¥16.46 million as of March 31, 2021, down from ¥27.97 million at the end of 2020, indicating a decrease of about 41%[39] - The company's cash and cash equivalents decreased to CNY 12,983,019.16 from CNY 22,474,166.94, a decline of 42.5%[43] - The ending cash and cash equivalents balance was CNY 10,027,677.95, down from CNY 17,781,689.47 in the previous period[59] - The total current asset value was approximately ¥286.29 million as of March 31, 2021, a decrease from ¥296.27 million at the end of 2020[39] Liabilities and Equity - Total liabilities decreased to CNY 126,621,000.35 from CNY 147,988,535.89, a reduction of 14.4%[42] - The company’s total current liabilities were CNY 124,145,281.86, down from CNY 145,380,352.01, a decrease of 14.6%[42] - The net assets attributable to shareholders increased by 1.54% to ¥248,179,894.57 from ¥244,424,560.52 at the end of the previous year[9] - The company's retained earnings showed a slight improvement, with a decrease from CNY -140,463,004.64 to CNY -137,295,907.10[46] Research and Development - The company is committed to maintaining high investment in R&D to keep up with rapid technological advancements and market demands[27] - Research and development expenses for Q1 2021 were CNY 4,466,420.67, down from CNY 5,200,500.55 in the same quarter last year, indicating a focus on cost management[50] Market and Product Development - The company reported a significant increase in contract assets, which rose by 43.70% to ¥33,284,400.00, driven by an increase in project acceptance[16] - The company is focusing on expanding its market presence in the telecommunications and internet sectors, although it has not yet achieved large-scale cooperation with telecom operators[25] - The company has developed a number of products and solutions to meet future 5G audio and video application demands, but sales revenue from these collaborations remains low[25] - The company has developed a comprehensive 5G audio and video new content ecosystem, covering over 100 million users through partnerships with major provincial broadcasting network operators and telecom operators[19] - The company is focusing on the development of new technologies and products based on 5G audio and video applications, including IP video platform solutions and cloud communication services[19] - The company launched the IP video platform solution to assist broadcasting network operators in live and on-demand services, integrating big data and AI for operational insights[20] - The company introduced a cloud desktop solution that allows employees to access virtual desktops from various devices, promoting a new office model[23] - The company is actively developing a VR180° camera system that offers 12K/30fps and 8K/60fps VR live streaming, enhancing the viewing experience for events and streamers[24] - The company plans to continue its strategic layout around 5G new content and audio-video integration communication applications over the next three years[19] - The company aims to maintain a high level of industry recognition and market position while expanding into emerging markets and becoming a solution partner for telecom operators[19] Legal and Financial Challenges - The company has invested ¥100 million in Beijing Youpeng Puluo Technology Co., holding a 4.718% stake, but has faced challenges in recovering the investment due to overdue payments[29] - The company has initiated legal proceedings against Youpeng Puluo for overdue share repurchase payments, highlighting ongoing financial recovery efforts[30] - The company has faced risks related to technology upgrades and market competition, emphasizing the need for continuous innovation and training for technical staff[27] - The company reported a credit impairment loss of CNY 1,581,808.93, which increased from CNY 420,207.35 in the previous period, suggesting potential challenges in asset quality[50]

深圳市佳创视讯技术股份有限公司 2020 年第三季度报告全文 深圳市佳创视讯技术股份有限公司 2020 年第三季度报告 2020-066 2020 年 10 月 公司是否需追溯调整或重述以前年度会计数据 2 1 深圳市佳创视讯技术股份有限公司 2020 年第三季度报告全文 深圳市佳创视讯技术股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 第一节 重要提示 一、主要会计数据和财务指标 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人陈坤江、主管会计工作负责人黄敏及会计机构负责人(会计主管 人员)李丹声明：保证季度报告中财务报表的真实、准确、完整。 单位：元 □ 是 √ 否 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备的冲销部分） | -105,383.76 | | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 一标准定额或定量享受 ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥54,335,432.74, a decrease of 9.46% compared to ¥60,009,853.54 in the same period last year[21]. - The net profit attributable to shareholders was a loss of ¥11,825,139.97, an improvement of 35.37% from a loss of ¥18,297,294.69 in the previous year[21]. - The net cash flow from operating activities was negative at ¥27,302,025.18, a decline of 249.98% compared to a positive cash flow of ¥18,203,825.56 in the same period last year[21]. - The total assets at the end of the reporting period were ¥436,208,198.92, down 10.69% from ¥488,422,957.50 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 3.88%, from ¥307,673,646.25 to ¥295,750,212.25[21]. - The basic and diluted earnings per share were both -¥0.0286, showing a 35.44% improvement from -¥0.0443 in the previous year[21]. - The weighted average return on net assets was -3.92%, a slight decrease from -3.41% in the previous year[21]. - The company reported a significant increase in financing cash flow, reaching ¥15,235,622.73, compared to -¥43,980,041.98 in the previous year, an increase of 134.64%[57]. - The company reported a net loss of CNY 11,825,139.97 in the first half of 2020, compared to a loss of CNY 8,224,840.00 in the same period of 2019[167]. - The company reported a total comprehensive income for the first half of 2020 at -82.82 million yuan, a decrease compared to the previous period[190]. Operational Strategy - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company is focusing on new product development and market expansion strategies as part of its future outlook[21]. - The company has optimized its organizational structure to concentrate resources on developing and promoting products and solutions aligned with industry trends in broadcasting and telecommunications[29]. - The company is actively exploring new technologies and products based on video services, including IP video platform solutions, VR applications, and AI user behavior analysis[30]. - The company is expanding its VR business by collaborating with telecom operators like China Mobile and offering customized VR enterprise applications[52]. - The company plans to continue increasing investments in VR business operations, including content and technology improvements, to adapt to market trends[105]. - The company aims to enhance its technological capabilities through ongoing research and development initiatives[188]. - The company plans to continue expanding its market presence and invest in new product development[188]. - The company is exploring potential mergers and acquisitions to accelerate growth and market expansion[192]. Research and Development - R&D investment accounted for an average of 19.92% of sales revenue over the past three years, indicating a strong focus on innovation[42]. - The company has developed a comprehensive software product line, including platforms for digital TV and VR, enhancing its market competitiveness[44]. - The company completed the research and development of an 8K VR live broadcasting system and began stable production and authorized sales of VR program content[52]. - The company maintains a dual R&D center approach in Shenzhen and Wuhan to enhance technological advancement and product development[102]. Financial Position - Cash and cash equivalents at the end of the reporting period were CNY 12,909,130.09, which is 2.96% of total assets, an increase from 2.64% in the previous year[65]. - Accounts receivable increased to CNY 201,204,461.60, representing 46.13% of total assets, up from 40.80% year-on-year, due to enhanced collection efforts[65]. - Inventory stood at CNY 71,932,137.85, making up 16.49% of total assets, an increase from 11.77% in the previous year, driven by project advancement and revenue recognition[65]. - The company's total equity decreased from CNY 309,080,346.09 to CNY 297,147,516.17, a decline of approximately 3.0%[167]. - The total liabilities decreased by 11.92% compared to the previous period, amounting to 307,670,000 yuan[187]. Market and Industry Context - The company is a leading provider of digital television content and application solutions, focusing on the broadcasting and telecommunications sectors, with a commitment to end-to-end solutions and product development[29]. - The company serves over 100 million users through its products and technologies, primarily targeting large provincial broadcasting network operators[45]. - The revenue from the digital television industry was ¥44,840,332.67, a decrease of 13.93% compared to the previous year[60]. - As of June 2020, the number of IPTV users in China reached 304 million, representing a year-on-year growth of 7.9%[106]. Risk Management - The company has outlined potential risks and corresponding countermeasures in its report, which investors are encouraged to review[6]. - The company has implemented measures to protect its intellectual property, including applying for software copyrights and enforcing confidentiality agreements[108]. Corporate Governance - The half-year financial report has not been audited, indicating a lack of external validation for the reported figures[117]. - The company did not engage in any related party transactions during the reporting period[123]. - There were no major penalties or rectification situations reported by the company[121]. - The company has no significant environmental protection issues or social responsibility commitments reported[136].

Financial Performance - Total revenue for Q1 2020 was ¥27,484,909.74, a decrease of 13.34% compared to ¥31,715,465.44 in the same period last year[9]. - Net profit attributable to shareholders was -¥7,725,617.47, an improvement of 32.17% from -¥11,389,402.85 year-on-year[9]. - Basic and diluted earnings per share were both -¥0.0187, reflecting a 32.25% improvement from -¥0.0276 in the same period last year[9]. - The company achieved operating revenue of CNY 27.48 million, a decrease of 13.34% compared to the same period last year[22]. - The company reported a net profit attributable to shareholders of -CNY 7.73 million, an increase of 32.17% year-on-year, influenced by seasonal fluctuations in the broadcasting industry and the COVID-19 pandemic[22]. - The total comprehensive income for the first quarter was a loss of CNY 7,837,103.20, compared to a loss of CNY 12,163,369.41 in the previous year[64]. Cash Flow and Liquidity - Net cash flow from operating activities improved by 42.11%, reaching -¥11,281,722.05 compared to -¥19,487,920.37 in the previous year[9]. - The company's cash and cash equivalents decreased by 49.06% to CNY 17.78 million compared to the beginning of the year, primarily due to payments for the acquisition of Shaanxi Fenteng Interactive and increased payables[17]. - The net cash flow from operating activities was -11,281,722.05, an improvement from -19,487,920.37 in the previous period, indicating a reduction in cash outflow[71]. - Total cash inflow from operating activities was 49,989,412.49, while cash outflow was 61,271,134.54, resulting in a net cash flow of -11,281,722.05[71]. - Cash and cash equivalents at the end of the period were 17,781,689.47, down from 30,756,441.23 in the previous period[72]. Assets and Liabilities - Total assets at the end of the reporting period were ¥458,394,163.96, down 6.15% from ¥488,422,957.50 at the end of the previous year[9]. - Total liabilities decreased to CNY 157,150,921.07 from CNY 179,342,611.41, representing a reduction of about 12.4%[55]. - Current liabilities totaled CNY 153,142,305.29, down from CNY 175,090,947.92, indicating a decrease of approximately 12.5%[55]. - The total equity attributable to shareholders decreased to CNY 299,841,852.14 from CNY 307,673,646.25, a decline of approximately 2.5%[56]. - The company reported a net loss in retained earnings of CNY -152,769,290.11, compared to CNY -145,043,672.64 in the previous period[56]. Research and Development - Research and development expenses decreased by 41.63% to CNY 5.20 million, primarily due to the impact of the COVID-19 pandemic and cost control measures implemented in 2019[19]. - The company is actively exploring new fields of technology and product development based on video business, including IP video platform solutions and VR content production[21]. - The company is committed to maintaining high investment in R&D to keep up with rapid technological advancements and market demands[26]. - The "VR + Broadcasting" business launched in December 2019 lacks historical data for accurate performance predictions, leading to potential risks in revenue and user engagement metrics[27][28]. Government Support and Strategic Adjustments - The company received government subsidies amounting to ¥1,628,568.15 during the reporting period[10]. - The company is in the process of liquidating its wholly-owned subsidiary, Tianbo Broadband Network Technology (Beijing) Co., Ltd., as part of its strategic adjustments[32]. - The company has committed to not engaging in any competing business that may affect its operations[35]. Investment Activities - The company’s investment activities generated a net cash outflow of CNY 98.85 million, a significant increase of 335.70% year-on-year, primarily due to payments for the acquisition of Shaanxi Fenteng Interactive[20]. - The total amount of raised funds is CNY 39,533.86 million, with CNY 957.86 million invested in the current quarter[36]. - Cumulative investment of raised funds reached CNY 43,069.95 million, with no changes in the purpose of raised funds[36]. - The company has utilized RMB 180 million of idle self-owned funds to purchase short-term guaranteed financial products[42]. Operational Challenges - The global spread of COVID-19 has significantly impacted business operations, creating high levels of uncontrollable risk for future operations[29]. - The company is actively responding to government guidelines for resuming operations while implementing strict pandemic prevention measures[29]. - The main customers are broadcasting network operators, and the demand for traditional services is declining, impacting the market activity level and the commercial viability of emerging technologies like VR[24].

Financial Performance - The company's operating revenue for 2019 was ¥164,272,181.33, a decrease of 48.76% compared to ¥320,601,543.31 in 2018[30]. - The net profit attributable to shareholders was -¥157,573,412.49, representing a decline of 1,586.98% from a profit of ¥10,596,849.65 in the previous year[30]. - The total assets at the end of 2019 were ¥488,422,957.50, down 39.35% from ¥805,280,253.97 in 2018[30]. - The net assets attributable to shareholders decreased by 43.86% to ¥307,673,646.25 from ¥548,072,221.39 in the previous year[30]. - The basic earnings per share for 2019 was -¥0.3814, a decline of 1,584.05% from ¥0.0257 in 2018[30]. - The weighted average return on equity was -33.58%, down 35.52% from 1.94% in 2018[30]. - The company reported a quarterly revenue of ¥58,510,322.11 in Q4 2019, which was the highest among the four quarters[32]. - The net profit attributable to shareholders in Q4 2019 was -¥127,603,240.57, marking a significant loss compared to previous quarters[32]. - The company achieved operating revenue of CNY 164.27 million, a year-on-year decrease of 48.76%[64]. - The net profit attributable to shareholders was CNY -157.57 million, a decline of 11.19% compared to the previous year[64]. - The software system product revenue was CNY 1.73 million, down 96.43% year-on-year[64]. - The system integration revenue was CNY 105.81 million, a decrease of 56.55% from the previous year[64]. - The company reported a net loss of ¥127,603,240 in Q4 2019, compared to a profit of ¥11,877,898.2 in Q4 2018[75]. - The total distributable profit as of December 31, 2019, was -145,043,672.64 yuan, indicating a negative profit distribution situation[150]. - The company did not declare any cash dividends for 2019, 2018, or 2017, maintaining a policy of reinvesting profits into operations[151][155]. Research and Development - The company invested an average of 17% of its sales revenue in R&D over the past three years, focusing on digital television patent technologies and software system products[56]. - The company has a total of 165 R&D personnel, representing 64.45% of the workforce, indicating a strong focus on innovation and product development[100]. - Research and development expenses increased by 19.88% year-on-year, totaling ¥40,847,958.16, reflecting the company's commitment to innovation[92]. - R&D investment amounted to ¥39,225,444.90 in 2019, representing 23.88% of operating revenue, a significant increase from 14.35% in 2018[100]. - The company is increasing R&D investment in VR applications, including "VR+ education" and "VR+ exhibition" scenarios[68]. - The company is actively developing new products in response to the opportunities presented by 5G and the "National One Network" initiative[95]. Market Position and Strategy - The company aims to leverage the opportunities presented by the integration of the broadcasting system to expand its market share[13]. - The company is committed to adapting to industry policy changes, particularly in IPTV management, to maintain competitive advantage[12]. - The company has established stable business partnerships with multiple operators, integrating resources to create value-added business models[7]. - The company is focusing on new technologies such as cloud computing, big data, and 5G communication in the broadcasting field[65]. - The company plans to expand its product offerings and enhance its market presence, particularly in the overseas markets[83]. - The company is committed to maintaining its competitive edge in the broadcasting industry while exploring opportunities for growth in emerging technologies[146]. - The company aims to seize sales opportunities arising from the substantial phase of broadcasting 5G and the "National One Network" initiative[144]. Product Development - The company developed 3-4 new TV game products monthly in 2019, focusing on market demand and user preferences to mitigate development risks[10]. - The company has developed nearly 1,000 game products, with an average of 3-4 new products launched each month[69]. - The company has successfully launched the "VR+ Broadcasting" business, with commercial operations starting in January 2020 across multiple provinces, including Shandong and Shaanxi[51]. - The company has developed an 8K VR live broadcasting system and optimized VR content production processes, enhancing its technological capabilities in the VR sector[50]. - The company’s IP video platform solution supports 4K/8K ultra-high-definition live and on-demand services, enhancing user experience through rapid channel switching capabilities[43]. Financial Management - The company will not distribute cash dividends or bonus shares, focusing on reinvestment for growth[17]. - The company reported a net cash flow from operating activities improved to ¥30,911,445.92, a significant increase of 136.22% compared to -¥85,349,653.18 in 2018[30]. - The company reported a net cash flow from investment activities of -¥19,248,341.68, a decrease of 741.70% year-on-year, primarily due to fewer recoveries from financial investments compared to the previous year[106]. - The net cash flow from financing activities was -¥30,175,763.00, a 143.38% decrease from the previous year, mainly due to the repayment of short-term loans[106]. - The company's cash and cash equivalents decreased by 34.58% to ¥34,908,122.55 at the end of 2019, primarily due to the repayment of short-term loans and payments related to acquisitions[111]. Partnerships and Collaborations - The company has established business cooperation with approximately two-thirds of provincial broadcasting networks in China, leveraging partnerships with major technology suppliers[47]. - The company has engaged in strategic collaborations with four national key laboratories to accelerate the development of VR video content technology[50]. - The company has entered into technical and commercial cooperation agreements with several broadcasting companies to promote its VR panoramic video live streaming platform[102]. Regulatory and Compliance - The company did not have any significant discrepancies between financial reports prepared under international and Chinese accounting standards[33]. - The company has not reported any non-standard audit reports for the recent period[160]. - The company has ensured compliance with the new financial instrument standards without restating prior year financial statements[162]. - The company has made commitments to avoid competition with its own business and to compensate for any losses caused by violations of these commitments[158]. Challenges and Risks - The company anticipates a seasonal fluctuation in revenue and profit, with the first quarter typically showing lower performance compared to other quarters[16]. - The company is addressing the challenges posed by technological upgrades and market demands to sustain its competitive position[15]. - The company is focused on improving communication with equipment manufacturers to significantly enhance product supply issues[143].

深圳市佳创视讯技术股份有限公司 2019 年第三季度报告全文 2019-067 2019 年 10 月 1 深圳市佳创视讯技术股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人陈坤江、主管会计工作负责人黄敏及会计机构负责人(会计主管 人员)李丹声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市佳创视讯技术股份有限公司 2019 年第三季度报告 深圳市佳创视讯技术股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 731,450,343.03 | | 805,280,253.97 | -9.17% | | 归属于上市公司股东的净资 ...

Financial Performance - Total revenue for the first half of 2019 was ¥60,009,853.54, a decrease of 53.58% compared to ¥129,281,876.18 in the same period last year[22]. - Net profit attributable to shareholders was -¥18,297,294.69, representing a decline of 607.47% from a profit of ¥3,605,573.97 in the previous year[22]. - Basic and diluted earnings per share were both -¥0.0443, a decrease of 609.20% from ¥0.0087 in the previous year[22]. - The company's operating revenue for the system integration segment was CNY 47,726,985.86, a decrease of 52.84% compared to the same period last year, with a gross margin of 23.46%[69]. - Revenue from game products and services reached CNY 7,743,007.22, an increase of 46.07% year-on-year, with a gross margin of 73.14%[69]. - The total comprehensive income attributable to the parent company was a loss of CNY 18,298,195.49, down from a profit of CNY 3,341,941.19 in the previous year[170]. - The company reported a net loss of 1,345.37 million yuan for the current period, which is a 19.64% decrease compared to the previous period[184]. Cash Flow and Assets - The net cash flow from operating activities improved to ¥18,203,825.56, a 124.33% increase from -¥74,833,909.04 in the same period last year[22]. - Cash and cash equivalents decreased significantly from RMB 53,360,903.88 at the end of 2018 to RMB 19,418,578.80, representing a decline of approximately 63.6%[158]. - The total assets at the end of the reporting period were CNY 735,000,000, with cash and cash equivalents decreasing to CNY 19,418,578.80, down from CNY 78,955,847.52 in the previous year[76]. - The company's cash inflow from operating activities was CNY 153,990,006.49, significantly higher than CNY 80,343,649.93 in the first half of 2018[175]. - The total cash and cash equivalents at the end of the period were ¥19,418,578.80, down from ¥78,955,847.52 at the end of the first half of 2018, representing a decrease of approximately 75%[178]. Research and Development - The company has an average R&D investment ratio of 17% of sales revenue over the past three years, indicating a strong commitment to innovation[52]. - Research and development expenses were CNY 21.25 million, down 6.28% from the previous year[66]. - The company is actively developing VR content through its subsidiary, which has collaborated with four national key laboratories to enhance VR video content production and technology[39]. - The company is researching and developing an 8K VR live broadcasting system, aiming to enhance its offerings in the VR market[39]. - The company emphasizes the importance of technology research and development to mitigate risks associated with new game development and operations, focusing on user data analysis to optimize product design[108]. Market Strategy and Operations - The company is focusing on new product development and market expansion strategies[6]. - The company is actively expanding its "VR + Broadcasting" business, conducting "5G + VR" transmission experiments in Shandong Province[60]. - The company has established partnerships with approximately two-thirds of provincial broadcasting networks in China, enhancing its system integration capabilities in the broadcasting industry[36]. - The company is preparing for new business opportunities arising from the implementation of 5G and "National One Network" initiatives[59]. - The company plans to continue expanding its market presence in the interactive broadcasting sector, responding to increasing customer demand[83]. Risks and Challenges - The company faced significant operational risks, which are detailed in the report[6]. - The company faces market risks due to declining demand in traditional business and potential technical difficulties in the integration of the national broadcasting system[102]. - The IPTV business is subject to increasing regulatory scrutiny from the National Radio and Television Administration, which may impact operations due to policy changes[109]. Shareholder and Equity Information - The company reported a total share count of 413,100,000, with 22.88% being restricted shares and 77.12% unrestricted shares[140]. - The largest shareholder, Chen Kunjian, holds 26.42% of the shares, with a recent decrease of 7,580,000 shares[143]. - The company has not engaged in any major related party transactions or asset acquisitions during the reporting period, maintaining a straightforward operational structure[121][122]. - The company did not distribute cash dividends or issue bonus shares during the reporting period, indicating a focus on reinvestment[113]. Intellectual Property and Compliance - The company has registered 38 trademarks and holds 23 patents, with 12 patents under substantive examination, enhancing its competitive edge[55]. - The company is committed to enhancing its intellectual property protection through internal controls and confidentiality agreements with employees[107]. - The company has applied for software copyright for all new products developed, ensuring protection against potential intellectual property infringements[107].

Financial Performance - Total revenue for Q1 2019 was ¥31,715,465.44, a decrease of 63.83% compared to ¥87,687,565.06 in the same period last year[9]. - Net profit attributable to shareholders was -¥11,389,402.85, representing a decline of 258.58% from a profit of ¥7,182,033.85 in the previous year[9]. - Basic and diluted earnings per share were both -¥0.03, down 250.00% from ¥0.0200 in the same period last year[9]. - The company reported a significant decrease in operating income due to industry-specific factors, including the impact of the CCBN exhibition and project delays[16]. - In Q1 2019, the company achieved operating revenue of 31.72 million yuan, a decrease of 63.83% year-on-year[19]. - The net profit attributable to shareholders was -11.39 million yuan, a decrease of 258.58% year-on-year, primarily due to the impact of the broadcasting industry during the annual Two Sessions[19]. - The company reported a net cash flow from operating activities of -19.49 million yuan, an increase of 65.43% year-on-year, attributed to enhanced collection of accounts receivable[20]. - The company reported a total of ¥3,353,985.46 in surplus funds (including interest income) returned to the over-raised funds special account as of June 30, 2016[34]. - The total comprehensive loss for the current period is ¥12,163,369.41, compared to a comprehensive income of ¥6,989,638.98 in the previous period[52]. Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥19,487,920.37, a 65.43% increase compared to -¥56,373,473.63 in the previous year[9]. - Cash and cash equivalents at the end of the period were ¥30,756,400, down 42.36% from the beginning of the year[16]. - As of March 31, 2019, the company's cash and cash equivalents decreased to ¥30,756,441.23 from ¥53,360,903.88 as of December 31, 2018, representing a decline of approximately 42.5%[40]. - The ending cash and cash equivalents balance was CNY 30,756,441.23, down from CNY 98,085,283.53 in the prior period[60]. - The company reported a total cash and cash equivalents decrease of CNY -22,604,462.65 during the period[60]. Assets and Liabilities - Total assets at the end of the reporting period were ¥790,419,555.31, a decrease of 1.85% from ¥805,280,253.97 at the end of the previous year[9]. - The net assets attributable to shareholders decreased by 2.05% to ¥536,840,849.59 from ¥548,072,221.39 at the end of the previous year[9]. - Total liabilities decreased from CNY 252,583,136.29 to CNY 249,885,807.04, a reduction of about 1.03%[42]. - Owner's equity decreased from CNY 552,697,117.68 to CNY 540,533,748.27, a decline of approximately 2.09%[43]. Investment and Development - The company is focusing on the development of new technologies and products in the video-related field, including 4K, 8K, 5G, and AI[18]. - The company plans to continue investing in quality assets in cultural media, gaming, VR video, and education content in 2019[24]. - The company invested a total of RMB 100 million in Beijing Youpeng Puluo Technology Co., holding a 4.7180% stake[25]. - The company has approved the use of up to 180 million RMB of idle self-owned funds and 130 million RMB of raised funds for purchasing short-term guaranteed financial products[32]. Operational Challenges - The company has faced challenges in achieving expected benefits from certain projects due to industry slowdowns, but anticipates future revenue growth as technology matures[31]. - The company is facing risks related to technological innovation in the virtual reality sector, including potential delays in development cycles and unproven business models[22]. - The company experienced a significant increase in financial expenses, with interest expenses remaining stable at approximately ¥733,885.71[49]. Fund Management and Compliance - The company has committed to avoiding any business that competes with its operations, ensuring no conflicts of interest arise[27]. - The company has made commitments regarding the use of raised funds, which are being adhered to[28]. - The company has not reported any issues regarding the use and disclosure of raised funds during the reporting period[34]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[36].

Financial Performance - The company's operating revenue for 2018 was CNY 320.60 million, an increase of 31.83% compared to CNY 243.19 million in 2017[32]. - The net profit attributable to shareholders was CNY 10.60 million, a significant turnaround from a loss of CNY 73.73 million in 2017, representing a 114.37% increase[32]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 7.86 million, improving by 90.65% from a loss of CNY 84.13 million in 2017[32]. - The net cash flow from operating activities was -CNY 85.35 million, an improvement of 21.31% from -CNY 108.47 million in 2017[32]. - The total assets at the end of 2018 were CNY 805.28 million, a decrease of 11.57% from CNY 910.65 million at the end of 2017[32]. - The net assets attributable to shareholders increased by 1.22% to CNY 548.07 million from CNY 541.49 million in 2017[32]. - The company reported a basic earnings per share of CNY 0.0257, compared to a loss of CNY 0.1800 in 2017, marking a 114.40% improvement[32]. - The total operating revenue for the company in 2018 was ¥320,601,543.31, representing a year-on-year increase of 31.83% compared to ¥243,186,058.81 in 2017[73]. - The digital television industry accounted for 93.28% of total revenue, with revenue of ¥299,054,492.50, up 32.62% from the previous year[73]. - The gaming industry generated revenue of ¥20,666,945.63, which is 6.45% of total revenue, reflecting a year-on-year growth of 20.24%[74]. Market Trends and Developments - In 2018, the total number of fixed internet broadband access users in China reached 407 million, with IPTV users at 155 million, highlighting a growing market for IPTV services[9]. - The total number of cable TV users in China decreased by 2.32 million in 2018, with a year-on-year decline of 8.7%[40]. - The number of broadband users increased by 3.58 million, reaching a total of 38.56 million, although the growth rate has slowed down[40]. - The global virtual reality industry is projected to grow at a compound annual growth rate of over 70% from 2017 to 2022, with the VR market exceeding CNY 600 billion in 2018[46]. - The IPTV user base among the three major telecom operators grew by 27.1% year-on-year[47]. - The number of dual-way network coverage users reached 171 million, with penetration users at 97.2 million, indicating an expanded coverage[128]. Strategic Initiatives - The company made significant strategic deployments in 2018, achieving major breakthroughs in cooperation with China Mobile and China Unicom, establishing stable business partnerships to enhance market expansion[9]. - The company is actively working on improving its internal controls and monitoring the operational status of acquired subsidiaries to manage potential impairment risks effectively[8]. - The company is focusing on continuous technology research and development, enhancing its capabilities to mitigate risks associated with new game development and operations[16]. - The company has established collaborations with national key laboratories and professional research institutions to address technical challenges in the "VR + broadcasting" sector, aiming for industrialization in the near future[7]. - The company is actively engaging with telecom operators to enhance platform operations and marketing activities, aiming to optimize user experience and product offerings[18]. - The company is focusing on developing key technologies and products such as AI television and smart monitoring systems to adapt to market trends[87]. Research and Development - The company has a strong R&D team with an average industry experience of over 10 years, capable of launching 4-5 new products monthly[52]. - The company has developed 561 game products since 2012, focusing on high-quality games suitable for large screens[52]. - The company is committed to continuous innovation and development in broadcasting technology and applications, including cloud platforms and big data applications[51]. - The company has committed to ongoing research and development in the interactive value-added services sector, aligning with industry trends and customer needs[110]. - The number of R&D personnel in 2018 was 183, accounting for 57.73% of the total workforce, compared to 197 and 57.60% in 2017[91]. Intellectual Property and Compliance - The company has implemented measures to protect its intellectual property rights, including applying for software copyrights and establishing internal control mechanisms[12]. - The company holds 39 registered trademarks, 27 authorized patents, and 792 software copyrights, reinforcing its core competitiveness[51]. - The company emphasizes the importance of timely market response and understanding user needs to avoid risks associated with new product development and operational failures[16]. - The company aims to improve its governance structure and transparency, focusing on compliance and operational standards to support long-term development[148]. Challenges and Risks - As of the end of the reporting period, the company's goodwill balance was 147.28 million yuan, and available-for-sale financial assets amounted to 98 million yuan, indicating potential impairment risks if the performance of acquired subsidiaries declines significantly[8]. - The company is focused on overcoming technological innovation risks in the virtual reality sector, which is still in its growth phase, by refining its business model and ensuring timely development[149]. - The company is committed to maintaining a close watch on the operational status of its acquired subsidiaries to mitigate potential risks related to asset impairment[150]. Community Engagement and Social Responsibility - The company has successfully organized a large-scale children's art event, involving over 5000 participants from more than 150 educational institutions, showcasing its commitment to community engagement[147]. - The company has actively fulfilled its social responsibilities, providing a good working environment and opportunities for employee development[193]. Future Outlook - The company plans to enhance its investment in "VR + broadcasting," online education, and online gaming, aiming to build a comprehensive industrial ecosystem[134]. - The company plans to explore VR game development and commercial models, leveraging operator resources to boost software sales and hardware bundling[136]. - The company aims to accelerate the transition from digital to intelligent broadcasting networks, leveraging new technologies such as 4K, 5G, and AI[127].