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锋尚文化:董事会决议公告
2023-08-29 11:19
证券代码:300860 证券简称:锋尚文化 公告编号:2023-053 锋尚文化集团股份有限公司 第三届董事会第四次会议决议公告 本公司及董事会全体成员保证信息披露的真实、准确和完整,没有虚假记载、误导性陈 述或者重大遗漏。 具体内容详见公司同日刊登在巨潮资讯网(http://www.cninfo.com.cn)上的 《2023 年半年度募集资金存放与使用情况的专项报告》等相关公告文件。 表决结果:7 票赞成、0 票反对、0 票弃权,0 票回避表决。 三、备查文件 一、董事会会议召开情况 锋尚文化集团股份有限公司(以下简称"公司")第三届董事会第四次会议 通知及会议材料已于 2023 年 8 月 18 日以邮件的形式送达公司全体董事、监事及 高级管理人员。本次会议于 2023 年 8 月 29 日上午 11:00 在公司会议室召开。会 议由董事长沙晓岚先生召集并主持,应出席董事 7 名,实际出席董事 7 名,董事 于福申先生、苗培如先生、独立董事李仁玉先生、张伟华先生、周煊先生采取通 讯表决方式,公司监事和高级管理人员列席了本次董事会。本次董事会会议的召 集、召开和表决程序符合《公司法》和《公司章程》等有关规 ...
锋尚文化:关于2023年半年度计提减值损失的公告
2023-08-29 11:19
证券代码:300860 证券简称:锋尚文化 公告编号:2023-055 锋尚文化集团股份有限公司 关于 2023 年半年度计提减值损失的公告 本公司及董事会全体成员保证信息披露的真实、准确和完整,没有虚假记载、 误导性陈述或者重大遗漏。 锋尚文化集团股份有限公司(以下简称"公司"或"锋尚文化")根据《深 圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》《深 圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理》《企业会计 准则》 和公司相关会计政策的规定,基于谨慎性原则,为真实准确的反映公司 的财务、资产和经营状况,对合并报表范围内截至 2023 年 06 月 30 日的各类 存货、应收账款、应收票据、合同资产、其他应收款、长期股权投资、固定资产、 在建工程、无形资产、商誉等资产进行了全面清查。对各项资产减值的可能性进 行了充分的评估和分析,判断存在可能发生减值的迹象,确定了需计提的减值损 失。 根据《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司 规范运作》等相关规定,本次计提减值无需提交公司董事会或股东大会审议。 一、本次计提减值损失的资产范围和总金额 本次计 ...
锋尚文化:2023年第二次临时股东大会决议公告
2023-08-15 11:06
证券代码:300860 证券简称:锋尚文化 公告编号:2023-052 锋尚文化集团股份有限公司 2023 年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假 记载、误导性陈述或重大遗漏。 特别提示: 1、本次股东大会未出现否决议案的情形; 2、本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 1、会议召开时间:2023 年 8 月 15 日上午 10:30 召开地点:北京东城区青龙胡同一号歌华大厦 A 座 16 层公司会议室 召开方式:本次会议采取现场表决与网络投票相结合的方式 召集人:公司董事会 主持人:公司董事长沙晓岚先生 2、出席本次股东大会的股东及股东授权委托代表 26 人,代表股份 87,613,244 股,占公司有表决权股份总数的 64.1068%。(公司表决权数量已扣 除回购账户中的股份)。 其中:出席现场会议的股东及股东授权委托代表 4 人,代表的股份总数 87,297,399 股,占公司有表决权股份总数的 63.8757%;通过网络投票的股东及 股东授权委托代表 22 人,代表的股份总数 315,845 股,占公司有表决 ...
锋尚文化:锋尚文化2023年第二次临时股东大会法律意见书
2023-08-15 11:06
北京市中咨律师事务所 关于 锋尚文化集团股份有限公司 2023 年第二次临时股东大会的 法律意见书 二〇二三年八月 北京市西城区平安里西大街 26 号 新时代大厦 5-8 层 邮编:100034 电话:+86-10-66091188 传真:+86-10-66091616(法律部) 66091199(知识产权部) 网址:http://www.zhongzi.com.cn/ 致:锋尚文化集团股份有限公司 北京市中咨律师事务所(以下简称"本所")接受锋尚文化集团股份有限公 司(以下简称"锋尚文化"或"公司")委托,指派彭亚峰、刘晓航律师(以下 简称"承办律师")担任锋尚文化于2023年8月15日召开的2023年第二次临时股 东大会(以下简称"本次股东大会")的特别法律顾问,出席会议,并出具本法 律意见书。 本法律意见书系依据《中华人民共和国证券法》(以下简称"证券法")、 《中华人民共和国公司法》(以下简称"公司法")、中国证券监督管理委员会 《上市公司股东大会规则》(以下简称"股东大会规则")、《上市公司证券发 行注册管理办法》(以下简称"发行注册管理办法")、《深圳证券交易所创业 板股票上市规则》(以下简称"上 ...
锋尚文化:锋尚文化业绩说明会、路演活动信息
2023-05-19 11:11
据情况可以看公司已经逐步恢复,从二季度开始,公司的财务状况有 望逐步改善。 截至 2022 年 12 月 31 日公司在手订单 9.6 亿元,基于 现在的在手订单,公司对 2023 年的业绩有信心。 Q:请问具体在五月中下旬的哪一天?举办杭州亚运会的演唱会? 证券代码:300860 证券简称:锋尚文化 锋尚文化集团股份有限公司 投资者关系活动记录表 编号:2023-002 | 投资者关系活动 | | □分析师会议 | □特定对象调研 | | --- | --- | --- | --- | | | □媒体采访  业绩说明会 | | | | 类别 | □新闻发布会 □路演活动 | | | | | □现场参观 □其他 (电话会议) | | | | 参与单位名称及 | | | | | 人员姓名 | 参与公司 2022 年度网上业绩说明会的投资者 | | | | 时间 | 2023 年 5 月 17 日 15:30-17:30 | | | | 地点 | 全景网"投资者关系互动平台"(http://ir.p5w.net/c/300860) | | | | 上市公司接待 | 董事长兼总经理沙晓岚先生 独立董事张伟华先生 ...
锋尚文化:关于举行2022年度业绩说明会的公告
2023-05-11 08:41
(问题征集专题页面二维码) 欢迎广大投资者积极参与本次网上说明会。 证券代码:300860 证券简称:锋尚文化 公告编号:2023-029 锋尚文化集团股份有限公司 关于举行 2022 年度业绩说明会的公告 本公司及董事会全体成员保证信息披露的真实、准确和完整,没有虚假记载、 误导性陈述或者重大遗漏。 锋尚文化集团股份有限公司(以下简称"公司")2022 年年度报告全文及 其摘要已于 2023 年 4 月 28 日刊登于创业板信息披露媒体(巨潮资讯网 http://www.cninfo.com.cn)。为加强与投资者的深入交流,使投资者更加全 面、深入地了解公司情况,公司计划于 2023 年 5 月 17 日(星期三)下午 15:30-17:30 在全景网举办 2022 年度业绩说明会,本次年度业绩说明会将采用 网络远程的方式举行,投资者可登陆全景网"投资者关系互动平台" (https://ir.p5w.net)参与本次年度业绩说明会。 公司董事长、总经理沙晓岚先生;公司副总经理李斌先生;董事会秘书、 财务总监李勇先生;保荐代表人关峰先生;独立董事张伟华先生参会。 为充分尊重投资者、提高交流效率,公司现提前向 ...
锋尚文化(300860) - 2022 Q4 - 年度财报
2023-04-27 16:00
Financial Performance - The company reported a decrease in new orders due to objective factors, impacting revenue for 2022[3]. - The company's operating revenue for 2022 was ¥320,051,784.73, a decrease of 31.43% compared to ¥466,742,052.51 in 2021[16]. - The net profit attributable to shareholders for 2022 was ¥14,714,520.81, down 84.03% from ¥92,164,180.42 in 2021[16]. - The net profit after deducting non-recurring gains and losses was -¥70,813,307.97 in 2022, a decline of 400.05% compared to ¥23,600,878.64 in 2021[16]. - The total number of new orders signed in 2022 decreased compared to previous years, reflecting market challenges[3]. - The company recorded a total of ¥85,527,828.78 in non-recurring gains and losses for 2022, compared to ¥68,563,301.78 in 2021[23]. - The company is facing uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the past three years[16]. - The company reported a consolidated revenue of 320.05 million yuan in 2022, a decrease of 31.43% compared to the previous year[50]. - The consolidated net profit for the year was 82.87 million yuan, down 90.99% year-on-year[50]. - The company has a total order backlog of 960 million yuan as of December 31, 2022, providing a solid performance reserve for 2023[51]. Risk Management - The financial report emphasizes the importance of risk awareness regarding future plans and potential challenges[3]. - The company has outlined potential risks in the "Management Discussion and Analysis" section of the report[3]. - The company is focused on maintaining transparency and has detailed its risk factors in the annual report[3]. - The company faces risks related to the execution of national major projects, which are crucial for revenue generation and require high levels of creativity and security[120]. - The cultural creative industry is experiencing intensified competition, particularly in the mid-to-low-end market, which may affect the company's market share if it fails to enhance its creative design capabilities[120]. Strategic Initiatives - The company is actively pursuing commercial performance projects, shifting from a passive to an aggressive approach in the market[38]. - The company aims to develop immersive tourism experiences and new business models through the application of VR/AR technologies[32]. - The company is expanding its cultural tourism business from project execution to commercial operation, enhancing its market presence[57]. - The company aims to enhance its influence in the cultural industry through resource integration and a new strategic layout[49]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of 500 million yuan allocated for this purpose[194]. Research and Development - The company reported a research and development (R&D) investment of ¥37,391,632.86 in 2022, which represents 11.68% of its operating revenue, a significant increase from 6.33% in 2021[87]. - The company has achieved 3 utility model patents related to stage design technology, enhancing its technical capabilities in stage performance[84]. - The company is focusing on innovative design projects to stimulate creativity among designers and artists[84]. - The company is developing a multi-form fusion display system, which has been applied for patent and is expected to improve project design quality[84]. - The company is focusing on developing interactive gaming software that combines entertainment and sports, promoting physical activity among youth[86]. Corporate Governance - The company has implemented a robust governance structure, including a board of directors and various committees, to ensure compliance and sustainable development[126]. - The board of directors held a total of 11 meetings during the reporting period, with all members attending in person or via communication methods[158]. - The company has a performance-based remuneration system linked to annual operational effectiveness[152]. - The company has established effective internal controls to ensure compliance and asset security, enhancing operational efficiency[185]. - The company has not reported any significant internal control deficiencies during the reporting period[186]. Shareholder Engagement and Profit Distribution - The profit distribution plan approved by the board proposes a cash dividend of 0 RMB per 10 shares, with no bonus shares issued[3]. - The company commits to a cash dividend distribution of no less than 10% of the distributable profit each year, provided it is profitable and meets regulatory requirements[195]. - The company will conduct annual profit distributions, with the possibility of interim distributions under certain conditions[195]. - The company emphasizes the importance of maintaining a stable and continuous profit distribution policy to ensure sustainable development[195]. - The company will provide opportunities for small investors to participate in shareholder meetings through online voting systems[196]. Market Trends and Economic Conditions - In 2022, domestic tourism in China reached 3.25 billion trips, generating revenue of 2.04 trillion yuan, a decrease of 22.1% compared to the previous year[29]. - The performance of the live performance market in 2022 showed a total economic scale of 24.36 billion yuan, down 31.33% year-on-year, with ticket revenue dropping by 47.41% to 3.22 billion yuan[33]. - The overall trend in the tourism and cultural sectors is moving towards a deeper integration of culture and tourism, creating new consumption patterns[34]. - The cultural and creative design service industry saw a slight decline in value added from 195.65 billion yuan in 2021 to 194.86 billion yuan in 2022, a decrease of 0.2%[30]. - The company is focused on building a high-level, professional design team and enhancing its talent structure to ensure innovation and creativity[118].
锋尚文化(300860) - 2023 Q1 - 季度财报
2023-04-27 16:00
Financial Performance - The company's revenue for Q1 2023 was ¥16,494,467.20, a decrease of 88.04% compared to ¥137,900,721.97 in the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥3,363,267.97, down 103.77% from a profit of ¥89,140,024.45 in the previous year[5]. - The company's basic earnings per share were -¥0.02, down 103.08% from ¥0.65 in the same period last year[5]. - The net profit for Q1 2023 was a loss of ¥3,978,014.85, compared to a profit of ¥88,667,088.47 in Q1 2022, representing a significant decline[30]. - Total operating revenue for Q1 2023 was ¥16,494,467.20, a decrease of 88.06% compared to ¥137,900,721.97 in the same period last year[29]. - Total operating costs amounted to ¥40,390,365.07, down 67.60% from ¥124,781,760.01 year-over-year[29]. Cash Flow and Investments - The net cash flow from operating activities was -¥1,603,021.65, an improvement of 97.50% compared to -¥64,153,854.49 in the same period last year[10]. - The company reported a net cash flow from investing activities of ¥54,867,149.47, a decrease of 93.69% compared to the previous year[10]. - Cash inflow from investment activities was ¥2,103,923,572.63, compared to ¥2,832,210,068.18 in the same period last year, indicating a decrease of 25.7%[33]. - Cash outflow from investment activities totaled ¥2,049,056,423.16, up from ¥1,963,148,395.97 year-over-year[34]. - The net cash flow from investment activities was ¥54,867,149.47, a decrease of 93.7% compared to ¥869,061,672.21 in Q1 2022[34]. - The ending balance of cash and cash equivalents was ¥658,553,214.31, down from ¥1,031,517,360.70 at the end of Q1 2022[34]. Assets and Liabilities - Total assets at the end of Q1 2023 were ¥3,835,120,499.83, a slight decrease of 0.41% from ¥3,850,956,909.10 at the end of the previous year[5]. - The total liabilities of the company were reported at 630,518,035.94 yuan, compared to 625,734,455.68 yuan at the beginning of the year, indicating a marginal increase[26]. - The company's total non-current assets decreased to 305,312,683.52 yuan from 329,598,167.39 yuan, a decline of approximately 7.4%[26]. - The company's cash and cash equivalents increased to 671,255,005.97 yuan from 641,553,552.69 yuan at the beginning of the year, reflecting a growth of approximately 4.3%[25]. - The company's equity attributable to shareholders decreased to 3,178,745,940.04 yuan from 3,198,751,182.69 yuan, a decline of about 0.6%[26]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 9,765[13]. - The largest shareholder, Sha Xiaolan, holds 41.84% of the shares, totaling 57,457,799 shares[13]. - The top ten shareholders hold a combined 82.24% of the shares, indicating significant ownership concentration[14]. - The company’s major shareholder, He Xie Growth Phase II, reduced its holdings by 1,373,302 shares, representing 1.00% of the total share capital[22]. Corporate Actions - The company has approved a share repurchase plan with a total amount between RMB 50 million and RMB 100 million, with a maximum repurchase price of RMB 58.00 per share[16]. - As of March 31, 2023, the company has repurchased a total of 361,720 shares, accounting for 0.2634% of the total share capital[17]. - The highest repurchase price recorded was RMB 53.95 per share, while the lowest was RMB 52.35 per share[17]. - The company has changed its name to "Fengshang Culture Group Co., Ltd." as of February 20, 2023[18]. - The company continues to engage the auditing firm Shinewing Certified Public Accountants for the 2022 annual audit[19]. - The company has initiated a strategy to expand its market presence through share repurchase and potential employee stock ownership plans[16]. - The report indicates that the company is actively managing its shareholder structure and capital allocation strategies[16]. Operational Insights - The company reported a significant decrease in operating income due to a reduction in completed projects, leading to an 86.46% decrease in operating costs[9]. - The company experienced a 59.84% increase in selling expenses, attributed to increased project expansion efforts[9]. - Investment income decreased by 70.35% to ¥9,247,593.08, reflecting changes in returns from joint ventures and cash management[9]. - The company reported a decrease in accounts receivable from 343,282,370.50 yuan to 332,053,093.53 yuan, a reduction of approximately 3.6%[25]. - The company’s inventory increased to 85,649,319.28 yuan from 71,464,618.63 yuan, representing a growth of about 19.9%[25].
锋尚文化(300860) - 2022 Q3 - 季度财报
2022-10-27 16:00
Financial Performance - The company's revenue for Q3 2022 was ¥89,882,521.41, representing a decrease of 6.65% compared to the same period last year[7]. - The net profit attributable to shareholders was -¥13,984,753.33, a decline of 134.40% year-over-year[7]. - Total operating revenue decreased to ¥237,358,767.26 from ¥314,657,396.86, representing a decline of approximately 24.5% year-over-year[53]. - Net profit decreased to ¥43,919,084.50 from ¥99,287,091.21, a decline of approximately 55.8% year-over-year[56]. - Basic earnings per share dropped to ¥0.36 from ¥0.73, reflecting a decrease of about 50.0% year-over-year[56]. - The basic earnings per share for Q3 2022 was -¥0.11, a decrease of 136.67% compared to the same period last year[7]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥21,148,233.68, an increase of 127.60% compared to the previous year[14]. - Cash flow from operating activities generated ¥21,148,233.68, a significant improvement compared to a negative cash flow of -¥76,630,975.44 in the previous period[60]. - The net cash flow from investment activities was ¥249,363,789.65, a significant improvement from a net outflow of ¥39,256,087.79[62]. - The net cash flow from financing activities was ¥12,319,932.19, recovering from a net outflow of ¥59,871,829.22[62]. - The net increase in cash and cash equivalents was ¥282,831,955.52, contrasting with a decrease of ¥175,758,892.45 in the previous period[62]. - As of September 30, 2022, the company's cash and cash equivalents amounted to ¥532,199,922.65, up from ¥255,008,750.62 at the beginning of the year, representing a growth of approximately 108.5%[42]. Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥3,951,298,086.35, reflecting a 1.92% increase from the end of the previous year[7]. - The total assets of the company reached ¥3,951,298,086.35, an increase from ¥3,876,751,820.78 at the beginning of the year, indicating a growth of about 1.9%[49]. - The total liabilities increased to ¥671,538,740.73 from ¥643,851,392.73, reflecting a rise of approximately 4.3%[49]. - The company's total equity rose to ¥3,279,759,345.62, compared to ¥3,232,900,428.05 at the beginning of the year, marking an increase of about 1.4%[49]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 14,041, with the largest shareholder, Sha Xiaolan, holding 41.84% of shares, totaling 57,457,799 shares[18]. - The top ten shareholders include Sha Xiaolan (41.84%), Wang Fangyun (12.97%), and He Xie Growth Phase II Investment Center (9.22%) among others[18]. - The company has a total of 400,000 shares held by shareholder Chen Haijiang through various accounts[20]. - The company’s major shareholders include domestic natural persons and non-state-owned legal entities, with significant stakes held by Sha Xiaolan and Wang Fangyun[18]. - The company’s shareholder structure indicates potential related party relationships, particularly between Sha Xiaolan and Wang Fangyun, who are spouses[22]. Expenses - The management expenses increased by 52.51% year-over-year, totaling ¥49,033,551.66 due to new equity incentive costs[13]. - Research and development expenses rose by 24.48% to ¥26,365,518.03, indicating an increase in R&D projects[13]. - Total operating costs increased to ¥264,217,465.08 from ¥232,359,796.64, marking an increase of about 13.7% year-over-year[53]. - Tax expenses increased to ¥26,462,074.85 from ¥24,071,233.56, an increase of approximately 9.9% year-over-year[53]. Investments - The company reported a significant increase in long-term equity investments, rising by 1124.47% to ¥48,000,075.75[13]. - The company reported investment income of ¥75,200,528.79, up from ¥52,675,992.80, representing an increase of about 42.7% year-over-year[53]. - The company experienced a 735.22% increase in cash flow from investing activities, amounting to ¥249,363,789.65[14]. - Cash inflow from investment activities totaled ¥5,936,366,669.82, down from ¥7,210,123,146.02, indicating a decrease of approximately 17.7% year-over-year[60]. Corporate Changes - The company appointed a new securities affairs representative, Ms. Gou Yaxin, following the resignation of Ms. Jiang Wei[34]. - The company experienced a resignation of a vice president, Ms. Fu Xia, but she will continue to hold other positions within the company[37]. - The company plans to change its business scope and amend its articles of association, pending approval from the shareholders' meeting[31]. Stock Structure - The company completed the registration of 69,200 restricted shares under the equity incentive plan, increasing the total number of restricted shares to 95,390,604[25]. - The company has a total of 95,321,404 restricted shares at the beginning of the period, with no new restrictions added during the current period[25]. - The company’s stock incentive plan involved the granting of 69,200 shares to 21 individuals, with the grant date being July 25, 2022[28]. - The total number of shares increased from 137,262,108 to 137,331,308 after the completion of the restricted stock grant registration, resulting in a change in the shareholding ratio[29]. - The proportion of restricted shares before the change was 69.44%, which slightly increased to 69.46% after the change, while the proportion of unrestricted shares decreased from 30.56% to 30.54%[30].
锋尚文化(300860) - 2022 Q2 - 季度财报
2022-08-26 16:00
Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2022, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was RMB 20 million, up 10% compared to the same period last year[18]. - The company's operating revenue for the reporting period was ¥147,476,245.85, a decrease of 32.46% compared to the same period last year[29]. - Net profit attributable to shareholders was ¥62,679,241.35, an increase of 6.86% year-over-year[29]. - The net profit after deducting non-recurring gains and losses was -¥13,307,844.50, representing a decline of 146.43% compared to the previous year[29]. - The company achieved revenue of ¥133,776,500 from large cultural performance activities, marking a growth of 20.02% year-over-year[44]. - Management has provided a performance guidance of 20% revenue growth for the full year 2022[18]. - The net cash flow from operating activities was -¥33,789,155.88, a decrease of 38.38% compared to the previous year[29]. - Operating costs decreased by 19.38% to ¥108,027,613.80 from ¥133,990,065.95, reflecting a reduction in completed projects affected by the pandemic[77]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 30% growth in that region by the end of 2023[18]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market share[18]. - The company aims to continue its acquisition strategy, focusing on high-quality upstream and downstream enterprises to enhance talent reserves and market reach[56]. - The company has launched new consumer-focused cultural tourism projects, including the "Sky632" interactive immersive experience in Shanghai and the "404Lab" project in Xi'an, aimed at attracting the "Z generation" audience[52]. Research and Development - The company has allocated RMB 5 million for research and development of new technologies in the upcoming fiscal year[18]. - Research and development investment increased by 32.26% to ¥17,775,053.49 from ¥13,439,543.88, indicating a rise in R&D projects[77]. - The company has developed virtual performance products, including AR creative designs and the first domestic virtual interactive music carnival, positioning this as a key future business direction[62]. Risks and Challenges - The company faces risks related to market competition and regulatory changes, which are being actively monitored[5]. - The company faces risks from the ongoing impact of COVID-19 on large cultural performance activities, prompting a shift towards online performances[110]. - Increased competition in the cultural creative industry may affect the company's market share if it fails to enhance its creative design capabilities[112]. - The company's business is closely tied to the performance of downstream industries, and a slowdown in investment growth in these sectors could adversely impact its operations[113]. Shareholder and Corporate Governance - No cash dividends will be distributed to shareholders for the current fiscal year[6]. - The company has implemented a stock incentive plan, which was approved and is currently in its assessment year for 2022[125]. - The company held two temporary shareholder meetings and one annual meeting, with participation rates of 63.96% and 63.62% respectively[120]. - A shareholder, Harmony Growth Phase II, reduced its holdings by 1% during the reporting period, bringing its total shareholding to 10.23%[159][160]. - The company completed the absorption merger of its wholly-owned subsidiary Beijing Fengshang Century Cultural Development Co., Ltd. on July 12, 2022, to improve operational efficiency[163]. Assets and Liabilities - The total assets at the end of the reporting period reached ¥3,908,227,535.36, an increase of 0.81% from the end of the previous year[29]. - Cash and cash equivalents at the end of the reporting period amounted to ¥257,149,211.85, maintaining a stable proportion of 6.58% of total assets[82]. - The total liabilities of the company were CNY 632,004,350.51, a decrease from CNY 643,851,392.73 at the beginning of the year[199]. - The company's total equity reached CNY 3,276,223,184.85, compared to CNY 3,232,900,428.05 at the start of the year[199]. - The company's long-term equity investments increased significantly to ¥47,937,754.96, representing 1.23% of total assets, up from 0.10% last year[82]. Operational Efficiency - The company has established a full-process service model, integrating creative planning, design, equipment rental, project production, and follow-up services[74]. - The company aims to expand its creative design team and enhance its core competitive capabilities through talent development initiatives[71]. - The company aims to streamline management levels and enhance overall operational efficiency through this merger[163].