Financial Performance - The company reported a total order amount of 256 million yuan in signed contracts, with an additional 50.96 million yuan in projects that have been bid but not yet signed, totaling 307 million yuan in confirmed and bid projects[9]. - The company experienced a loss due to significant asset impairment provisions, including accounts receivable, contract assets, inventory, and goodwill, despite ongoing efforts to strengthen cash flow and control[7]. - The company's operating revenue for 2021 was ¥136,280,387.80, representing a 7.22% increase from ¥127,107,789.21 in 2020[32]. - The net profit attributable to shareholders was -¥105,421,383.99, a decrease of 115.46% compared to -¥48,927,563.12 in 2020[32]. - The net cash flow from operating activities was -¥27,696,950.49, which is a 72.83% decline from -¥16,025,306.16 in 2020[32]. - The total assets at the end of 2021 were ¥302,969,241.29, down 23.06% from ¥393,783,428.59 at the end of 2020[32]. - The net assets attributable to shareholders decreased by 41.20% to ¥143,710,707.78 from ¥244,424,560.52 in 2020[32]. - The basic earnings per share for 2021 was -¥0.2552, a decline of 115.54% from -¥0.1184 in 2020[32]. - The weighted average return on net assets was -54.70%, a decrease of 37.42% from -17.28% in 2020[32]. - The company did not distribute any cash dividends or bonus shares for the year[32]. Market and Competition - The IPTV user base reached 349 million by the end of 2021, with a net increase of 33.36 million users during the year, indicating a growing market despite increased competition[10]. - The company faces risks related to market competition, particularly in the context of the ongoing integration of the national broadcasting network and the low activity level in the 5G business application market[15]. - The overall market demand for new business investments in broadcasting remains low, as traditional digital TV services have matured[49]. - The competitive landscape in the software development and sales business is gradually consolidating, with the company and a few others dominating the market share[52]. Technology and Innovation - The company emphasizes the importance of technology research and development, aiming to maintain advanced technical levels and adapt to new market demands[17]. - The company aims to leverage its existing 5G audio-visual service solutions to capture growth opportunities in the 5G application service phase, enhancing service capabilities and quality to improve market share[16]. - The company is developing 3-4 new television game products monthly, adapting to market changes and operator needs to mitigate the risk of product development failures[13]. - The company is actively pursuing market expansion and technological upgrades in response to national policies promoting the development of the ultra-high-definition video industry[43]. - The company is leveraging 5G technology to enhance its software products, including ultra-high-definition IP video platforms and CDN services, targeting both B2B and B2C markets[52]. - The company is focused on expanding its VR business, which includes VR panoramic shooting, VR live broadcasting, and VR gaming[69]. Revenue and Sales Breakdown - Total revenue for 2021 reached CNY 136,280,387.80, representing a 7.22% increase from CNY 127,107,789.21 in 2020[72]. - The digital television sector accounted for CNY 121,712,430.93, or 89.31% of total revenue, with a year-on-year growth of 12.60%[72]. - The gaming sector saw a decline in revenue to CNY 11,563,994.64, down 16.80% from the previous year[72]. - Revenue from software system products surged by 547.03% to CNY 10,857,558.86, while terminal products plummeted by 99.41% to CNY 61,061.95[72]. Strategic Partnerships and Agreements - The company has signed strategic framework agreements with telecom operators in areas such as cloud live broadcasting and virtual reality, expanding its service offerings into the 5G and VR application markets[8]. - The company has established strategic partnerships with major telecom operators and internet content platforms, covering over 100 million users[66]. - The company signed a system integration service project contract worth 201 million yuan with China State Construction Engineering Corporation, effective from February 17, 2022[68]. Research and Development - The company invested an average of 19.64% of its sales revenue in R&D over the past three years, enhancing its competitive edge[64]. - The company's R&D investment amounted to ¥21,311,506.71 in 2021, representing 15.64% of total revenue, a decrease from 18.46% in 2020[90]. - The number of R&D personnel decreased by 2.86% from 105 in 2020 to 102 in 2021, with the proportion of R&D staff dropping from 48.17% to 42.50%[90]. Governance and Management - The company has established a board of directors consisting of seven members, including three independent directors, complying with legal and regulatory requirements[118]. - The company maintains an independent operational structure, with distinct systems for procurement, production, sales, and research and development[120]. - The company has a structured governance framework, including a shareholder meeting, board of directors, and supervisory board, operating independently[120]. - The company has a diverse board with members holding various professional backgrounds, enhancing decision-making capabilities[128]. Employee and Stakeholder Relations - The total number of employees at the end of the reporting period was 240, with 157 in the parent company and 83 in major subsidiaries[149]. - The company has established a comprehensive training system to enhance employee skills and meet development needs[152]. - The company actively respects and maintains the rights of stakeholders, ensuring balanced interests among shareholders, employees, and society[119]. Legal and Compliance Issues - The company is involved in a litigation case regarding a share transfer dispute with an amount of RMB 168.34 million, which has not formed an estimated liability[180]. - The first-instance judgment has not taken effect, and the case has been transferred to the Guangdong Provincial High People's Court for further proceedings[181]. - The company has not faced any penalties from securities regulatory authorities in the past three years[133]. Future Outlook - The company aims to achieve continuous revenue growth by actively expanding the market across multiple dimensions, including technology, business, and supply chain[46]. - The company has established a new development strategy focusing on integrating resources and expanding into emerging markets, particularly in 5G, ultra-high definition, and VR technologies[112]. - The company is positioned for future growth with a focus on innovation and market expansion strategies[130].

深圳市佳创视讯技术股份有限公司 2021 年第三季度报告 证券代码：300264 证券简称：佳创视讯 公告编号：2021-078 深圳市佳创视讯技术股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保 证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 28,854,581.93 | -24.98% | 87,734,649.65 | - ...

IPTV User Growth - As of May 2021, the number of IPTV users in China reached 330 million, with a net increase of 15.12 million users compared to the end of the previous year[6]. Financial Performance - The company's operating revenue for the reporting period was ¥58,880,067.72, an increase of 8.36% compared to ¥54,335,432.74 in the same period last year[27]. - The net profit attributable to shareholders was -¥23,935,769.61, representing a decrease of 102.41% from -¥11,825,139.97 in the previous year[27]. - The net cash flow from operating activities was -¥29,890,813.52, a decline of 9.48% compared to -¥27,302,025.18 in the same period last year[27]. - The total assets at the end of the reporting period were ¥353,448,156.52, down 10.24% from ¥393,783,428.59 at the end of the previous year[27]. - The operating cost decreased by 2.45% to ¥37,691,395.64, resulting in a gross profit margin of 36.00%[54]. - Research and development expenses amounted to ¥9,177,149.99, a decrease of 13.08% from the previous year[54]. - The company reported a significant increase in credit impairment losses, amounting to CNY -12,131,868.36, compared to a gain of CNY 3,404,040.74 in the previous year[148]. - The total comprehensive loss for the first half of 2021 was CNY -23,788,988.88, compared to CNY -11,932,829.92 in the first half of 2020[149]. Cash Flow and Financing - The net cash flow from financing activities increased by 143.31% to ¥37,070,058.06, mainly due to increased borrowings during the reporting period[55]. - Cash inflow from financing activities increased to CNY 48,953,582.22 in the first half of 2021, up 57.2% from CNY 31,159,304.17 in the first half of 2020[157]. - The company’s cash flow from financing activities reflects a strategic increase in borrowing, with CNY 44,000,000.00 received in loans during the first half of 2021[157]. Product Development and R&D - The company plans to develop 3-4 new TV game products each month, tailored to the needs of local operators[9]. - The company is focusing on the development and sales of software products related to the broadcasting industry, including video-related technologies and solutions[34]. - The company has a strong focus on R&D, with multiple projects recognized by local and national authorities, enhancing its market competitiveness[48]. - The company is actively integrating VR content and services with telecom operators, aiming to build a VR content operation ecosystem[44]. Strategic Partnerships - The company has signed a long-term cooperation framework agreement with China Unicom Online Information Technology Co., Ltd. to explore in-depth cooperation in 5G video applications and video cloud platforms[35]. - The company has established business relationships with approximately two-thirds of provincial broadcasting networks in China, enhancing its video processing capabilities[42]. - The company has established partnerships with major players such as China Unicom, China Mobile, and Huawei, but the revenue from these partnerships is still a small portion of the main business income[82]. Market Expansion and Future Outlook - The company is actively pursuing market expansion into telecommunications and internet sectors, although current revenue from these collaborations remains low[82]. - The company indicated plans for market expansion and new product development in the upcoming quarters[162]. - The management provided a positive outlook for the second half of 2021, expecting growth in user data and overall performance[162]. Shareholder and Corporate Governance - The company held three shareholder meetings during the reporting period, with investor participation at 0.01% for each meeting[87]. - The company did not experience any significant changes in profit composition or sources during the reporting period[56]. - The company has not experienced any major changes in its shareholding structure, with total shares remaining at 413,100,000[121]. Legal and Compliance Issues - The company reported a significant litigation case involving a share transfer dispute with a claim amount of 168.34 million yuan[101]. - There were no significant environmental issues reported, and the company is not classified as a key pollutant unit[93]. - The semi-annual financial report was not audited[99]. Asset and Liability Management - Contract assets increased by 38.23% to 32,016,796.79, contributing to a 3.18% rise in total assets, mainly due to an increase in acceptance projects during the reporting period[63]. - Accounts receivable decreased by 22.08% to 100,012,298.33, accounting for 28.30% of total assets, reflecting a reduction in outstanding receivables[63]. - The company’s intangible assets decreased by 17.25% to 14,063,598.35, accounting for 3.98% of total assets, indicating a potential need for further investment in technology[64]. Risk Management - The company is facing market risks due to the uncertain acceptance and capacity of emerging technologies like 5G and VR[82]. - The report highlighted a significant focus on risk management, with provisions made for general risk reserves[166].

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 ...