编号：2017-014 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 投资者关系活 □新闻发布会 路演活动 动类别 □现场参观 □其他： 参与单位名称 君择研究所彭家辉，君择控股邓立君，黄登峰，曾保华，彭沐 证券代码：300264 证券简称：佳创视讯 深圳市佳创视讯技术股份有限公司投资者关系活动记录表 及人员姓名 阳，李彤等 | --- | --- | |--------------|---------------------------------------------------------------| | | | | 时间 | 2017 年 12 月 13 日下午 15：00 | | 地点 | 君择控股 | | 上市公司接待 | 李汉辉 | | 人员姓名 | | | 投资者关系活 | 一、公司" VR+ 广电"发展情况介绍 | | 动主要内容介 | 2016 年3月 18 日，佳创视讯与虚拟现实技术及系统国家重点 | | 绍 | 实验室、信息光子学与光通信国家重点实验室、国家广播电视网工 | | | 程技术研究中心、数字电视国家工程实验室共同签订《"虚拟现实 | | | + 广播电视"产业 ...

Group 1: Company Overview and Strategic Direction - Shenzhen Jiachuan Video Technology Co., Ltd. is actively pursuing the "VR + Broadcasting" development strategy, having signed a strategic cooperation framework agreement with several national key laboratories in March 2016 [4] - The company invested CNY 100 million to establish a wholly-owned subsidiary in Beijing to focus on VR-related business [4] - As of May 2018, the company has signed trial broadcast agreements with five provincial broadcasting operators, marking its entry into the trial broadcast phase [5][10] Group 2: Industry Collaboration and Partnerships - On May 10, 2018, the company hosted the "VR + Broadcasting Industry Summit Forum," signing cooperation agreements with ten broadcasting operators, including China Cable and Tianwei Video [7][10] - The company has developed a comprehensive "VR + Broadcasting" industrial chain application plan, having applied for five national invention patents and six software copyrights [10] Group 3: Technological Advancements and Content Production - The company has produced nearly 300 panoramic and VR films, totaling approximately 10,000 hours of material and 100 hours of broadcast-level content, sufficient for the initial phase of VR industrial cooperation [8] - Jiachuan Video is the first company in China to achieve the transmission of 4K HD VR video and panoramic video content through cable television networks, positioning itself as a technological leader in the industry [9][10] Group 4: Market Potential and Future Growth - The "VR + Broadcasting" initiative is expected to significantly enhance the company's performance, with plans to build a nationwide VR content platform and explore new business models such as paid VR, VR advertising, and live VR events [11] - The company aims to leverage the extensive coverage of cable television networks to broadcast high-quality VR content directly to users' homes, enhancing user experience and engagement [11]

Financial Performance - The company's revenue for Q3 2022 was ¥69,552,597.07, representing a 141.05% increase compared to the same period last year[5] - The net profit attributable to shareholders was -¥6,199,950.96, a decrease of 52.64% year-on-year[5] - The company reported a basic earnings per share of -¥0.0150, a decrease of 52.66% compared to the same period last year[5] - The operating income for the year-to-date period was ¥126,122,995.72, up 43.76% year-on-year[5] - The net loss for the period was CNY 31,292,465.97, an improvement from a net loss of CNY 36,978,426.48 in the same period last year[22] - The company reported a comprehensive loss of CNY 31,846,907.86, compared to a comprehensive loss of CNY 36,911,813.85 in the previous year[23] - Basic and diluted earnings per share were both CNY -0.0739, an improvement from CNY -0.0896 in the prior period[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥351,529,151.51, an increase of 16.03% from the end of the previous year[5] - The company's current assets totaled CNY 269,891,169.16, up from CNY 223,790,072.50 at the start of the year, indicating an increase of about 20.6%[19] - The total liabilities stood at CNY 269,891,169.16, which is a significant portion of the total assets, indicating a leverage ratio that needs to be monitored[19] - The company's total liabilities increased to CNY 228,805,680.33 from CNY 158,079,704.07 in the previous period[20] - Owner's equity attributable to the parent company decreased to CNY 121,114,610.82 from CNY 143,710,707.78 in the previous year[20] Cash Flow - The cash flow from operating activities was -¥32,397,183.89, a decrease of 16.48% compared to the previous year[5] - The net cash flow from operating activities was -32,397,183.89 CNY, an improvement from -38,792,041.85 CNY in the previous year[26] - Total cash inflow from financing activities reached 89,105,054.18 CNY, compared to 49,193,582.22 CNY in the same period last year[26] - The net cash flow from investing activities was -9,713,108.55 CNY, slightly better than -11,224,990.81 CNY in the previous year[26] - The total cash outflow from operating activities was 159,116,654.99 CNY, up from 123,449,866.63 CNY year-over-year[26] Operational Metrics - The company experienced a 64.78% increase in operating costs, amounting to ¥95,654,700, due to higher revenue[11] - Total operating revenue for the period reached CNY 126,122,995.72, a significant increase of 43.5% compared to CNY 87,734,649.65 in the previous period[21] - Total operating costs amounted to CNY 162,061,297.20, up 42.2% from CNY 113,893,508.47 in the prior period[21] - The company reported a decrease of 68.79% in other income, totaling ¥1,420,700, primarily due to reduced government subsidies recognized during the period[11] Accounts Receivable and Inventory - The company's accounts receivable increased by 528.47% to ¥25,476,200, mainly due to increased customer payments via notes[10] - Accounts receivable rose significantly to CNY 126,406,954.76 from CNY 102,839,174.04, reflecting an increase of approximately 22.9%[19] - The company has been actively managing its inventory, with inventory levels reported at CNY 38,303,974.35, down from CNY 41,086,806.97, a decrease of about 6.8%[19] Research and Development - Research and development expenses totaled CNY 16,281,452.21, slightly up from CNY 15,186,435.36 in the previous year[22] - The company is focusing on expanding its market presence and enhancing product development, which may lead to future revenue growth[15] Legal Matters - The company is involved in ongoing litigation related to equity transfer disputes, which may impact future financial performance[15]

User Growth and Market Presence - As of June 2022, the number of IPTV users reached 366 million, with a net increase of 17.85 million users compared to the end of the previous year[4]. - The number of 5G mobile phone users reached 455 million, with a net increase of 100.55 million users compared to the end of the previous year[4]. - The company plans to develop 3-4 new TV game products each month, tailored to the needs of local operators[7]. - The company is focusing on consolidating its traditional broadcasting market share while exploring new markets and technology layouts, particularly in 5G and VR applications[75]. - The company is actively integrating resources to establish a platform-based development strategy, enhancing its market competitiveness in emerging sectors like 5G, ultra-high-definition, and AIoT[46]. Financial Performance - The company's operating revenue for the reporting period was ¥56,570,398.65, a decrease of 3.92% compared to the same period last year[29]. - The net loss attributable to shareholders was ¥24,312,797.06, reflecting a 1.58% increase in loss compared to the previous year[29]. - The net cash flow from operating activities improved significantly, with a net inflow of -¥5,807,761.20, an 80.57% increase compared to the previous year[29]. - The company's total assets at the end of the reporting period were ¥329,841,338.32, representing an 8.87% increase from the end of the previous year[29]. - The company's net assets attributable to shareholders decreased by 13.87% to ¥123,772,838.28 compared to the previous year[29]. Research and Development - The company is committed to increasing R&D investment to enhance service capabilities and quality in response to market demands[10]. - The company has maintained an average R&D investment of 19.64% of sales revenue over the past three years, focusing on software product innovation and digital television patent technologies[45]. - The company has allocated 5.3 million yuan for research and development, which is 1.2% of total revenue, to foster innovation[156]. - The R&D expenditure has increased by 15% year-over-year, reflecting the company's commitment to innovation and product development[159]. Operational Challenges and Risks - The company faces risks from intensified market competition and potential loss of market share if it fails to adapt[4]. - The company acknowledges seasonal fluctuations in revenue and profit, typically experiencing lower performance in the first quarter[12]. - The company has faced continuous net losses for five consecutive years, leading to tight cash flow, but has implemented management measures to improve performance and cash flow[77]. Strategic Initiatives - The company aims to leverage its technology reserves to capture growth opportunities in the 5G application service market[10]. - The company is focusing on high-value clients, including large provincial broadcasting network operators, to meet ongoing demands for system upgrades and expansions[47]. - The company has initiated strategic partnerships to enhance its service offerings and expand its customer base[156]. - The company plans to invest in new product development, focusing on enhancing technology and expanding market reach in the upcoming quarters[158]. Cash Flow and Financial Management - The company reported a significant increase in accounts receivable, which rose to ¥118,303,348.28, accounting for 35.87% of total assets, up from 33.94%[61]. - The company's total cash and cash equivalents at the end of the reporting period were ¥24,795,584.70, representing 7.52% of total assets, up from 7.11%[61]. - The company’s cash flow from operating activities showed a net outflow of -6,068,251.05 CNY in the first half of 2022, an improvement from -29,017,886.51 CNY in the same period of 2021[151]. Legal and Compliance Matters - The company is involved in a legal dispute regarding a share transfer with a claim amount of 168.34 million CNY, which does not impact current or future profits[98]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[90]. - There were no significant related party transactions or non-operating fund occupation by major shareholders during the reporting period[99]. Future Outlook - The company aims to achieve a revenue growth target of 15% for the next fiscal year, driven by new technology initiatives[156]. - Future guidance indicates an expected revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[159]. - The company plans to expand its market presence and invest in new product development to enhance competitiveness[156].

Financial Performance - The company's operating revenue for Q1 2022 was ¥21,228,019.52, a decrease of 50.46% compared to ¥42,847,713.31 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥12,406,462.37, representing a decline of 430.09% from a profit of ¥3,758,488.26 in the previous year[3] - The company's basic and diluted earnings per share were both -¥0.0300, a decrease of 429.67% from ¥0.0091 in the same period last year[3] - Net loss for Q1 2022 was CNY 12,734,221.31, compared to a net profit of CNY 3,780,857.58 in Q1 2021, reflecting a significant decline in profitability[30] - The total comprehensive income attributable to the parent company was -12,365,129.90 CNY, compared to 3,755,334.05 CNY in the previous period[31] Cash Flow - The net cash flow from operating activities improved by 83.22%, reaching -¥2,649,952.72 compared to -¥15,797,015.02 in the same period last year[10] - The net cash flow from financing activities increased by 128.07% to ¥1,089,640.00, primarily due to higher borrowing[10] - Cash inflow from operating activities totaled 37,134,277.09 CNY, while cash outflow was 39,784,229.81 CNY[34] - The net cash flow from financing activities was 10,896,397.23 CNY, compared to 4,777,736.29 CNY in the previous period[35] - The company received 20,600,000.00 CNY in cash from financing activities, significantly higher than 5,387,505.18 CNY in the previous period[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥290,357,535.19, down 4.16% from ¥302,969,241.29 at the end of the previous year[3] - Current assets totaled CNY 212,341,751.87, down from CNY 223,790,072.50, indicating a decrease of about 5.1%[26] - The total liabilities decreased to CNY 154,284,587.45 from CNY 158,079,704.07, a decline of approximately 2.5%[26] - The company's cash and cash equivalents were CNY 20,859,021.86, a slight decrease from CNY 21,539,071.10[25] - The ending balance of cash and cash equivalents was 16,499,241.83 CNY, up from 10,027,677.95 CNY in the previous period[35] Operating Costs and Expenses - The company's operating costs for Q1 2022 were ¥16,466,800, a decrease of 38.96% from the previous year[9] - Total operating costs for Q1 2022 were CNY 36,579,276.82, up from CNY 42,204,840.51, indicating a cost reduction strategy[28] - Research and development expenses for Q1 2022 were CNY 4,659,018.30, compared to CNY 4,466,420.67 in the previous year, showing an increase of about 4.3%[28] - The company reported a significant increase in sales expenses, which rose to CNY 7,940,617.37 from CNY 5,095,703.98, an increase of approximately 55.5%[28] - The company paid 19,465,356.18 CNY for purchasing goods and services, down from 32,365,838.00 CNY in the previous period[34] Shareholder Information - The company’s major shareholders include Chen Kunjian with an 18.06% stake and Qiu Jiafen with a 3.07% stake[13] - The top ten shareholders hold a significant portion of the company's shares, with the largest shareholder holding over 18 million unrestricted shares[13] - The company has not disclosed any relationships or agreements among its major shareholders[13] Legal and Regulatory Matters - The company has initiated legal proceedings against Youpeng Puluo for the unpaid share repurchase amount, with a civil judgment already issued[17] - The company is currently awaiting the outcome of an appeal filed by one of the defendants, which has not yet been resolved[17] - The company has been actively responding to multiple rounds of inquiries from the Shenzhen Stock Exchange regarding its application for a private placement of shares[21] - The approval for the private placement is still pending from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, introducing uncertainty regarding the timeline[22] Government Support - The company received government subsidies amounting to ¥404,723.00 during the reporting period[6] Investment Activities - The company holds a 4.7180% stake in Beijing Youpeng Puluo Technology Co., Ltd. after investing a total of RMB 100 million through share acquisition and capital increase[15] - The company has not received the second and third phases of the share repurchase payment from Youpeng Puluo, which were due by July 31, 2018, and September 30, 2018, respectively[15] - As of December 31, 2019, the company received RMB 500,000 from a joint account for the share repurchase, but the total amount received is significantly below expectations[16] Audit Information - The company did not conduct an audit for the first quarter report[36]

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]