中国三三传媒(08087) - 2020 - 中期财报

Financial Statements Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income The Group's revenue grew significantly by 77.1% to RMB 50.143 million, but increased administrative expenses led to an expanded loss of RMB 26.536 million for the period 2020 Interim Results Summary (For the six months ended June 30) | Indicator | 2020 (RMB thousands) | 2019 (RMB thousands) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Revenue | 50,143 | 28,309 | +77.1% | | Gross Profit | 9,272 | 3,182 | +191.4% | | Loss Before Tax | (26,508) | (7,461) | +255.3% | | Loss for the Period | (26,536) | (7,461) | +255.6% | | Loss Attributable to Owners of the Company | (26,432) | (7,610) | +247.3% | | Basic and Diluted Loss Per Share (RMB cents) | (4.59) | (1.32) | +247.7% | - Administrative expenses sharply increased from RMB 9.245 million in the prior period to RMB 31.197 million, a primary driver of the expanded loss[4] Condensed Consolidated Statement of Financial Position As of June 30, 2020, total assets remained stable at RMB 502 million, with net current assets of RMB 264 million indicating sound short-term solvency Financial Position Summary | Indicator | June 30, 2020 (RMB thousands) | December 31, 2019 (RMB thousands) | | :--- | :--- | :--- | | Non-current Assets | 91,121 | 91,238 | | Current Assets | 410,753 | 413,162 | | Current Liabilities | 146,273 | 141,302 | | Net Current Assets | 264,480 | 271,860 | | Net Assets | 355,601 | 362,711 | - Prepayments for film and entertainment business are one of the Group's most significant assets, totaling RMB 189 million, accounting for approximately 37.6% of total assets[9][42] Condensed Consolidated Statement of Changes in Equity Equity attributable to owners decreased from RMB 379 million to RMB 359 million, primarily due to a RMB 26.432 million loss for the period - Total equity attributable to owners of the Company decreased from RMB 379 million at the beginning of 2020 to RMB 359 million as of June 30[13] - The decrease in equity is primarily due to a total comprehensive expense of RMB 20.506 million attributable to owners of the Company, including a RMB 26.432 million loss for the period[13] Condensed Consolidated Statement of Cash Flows Net cash outflow from operating activities was RMB 9.611 million, resulting in a decrease of RMB 9.027 million in cash and cash equivalents to RMB 11.62 million Cash Flow Statement Summary (For the six months ended June 30) | Indicator | 2020 (RMB thousands) | 2019 (RMB thousands) | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | (9,611) | (8,987) | | Net Cash From Investing Activities | 1,358 | 1,204 | | Net Cash Used in Financing Activities | (774) | – | | Net Decrease in Cash and Cash Equivalents | (9,027) | (7,783) | | Cash and Cash Equivalents at End of Period | 11,620 | 27,005 | Notes to the Condensed Consolidated Interim Financial Statements Company Information and Principal Activities China Sansan Media Group Limited is a Cayman Islands-registered investment holding company listed in Hong Kong, primarily engaged in advertising, film and entertainment, and prepaid card services - The Company is an investment holding company with principal activities including outdoor and digital advertising, film and entertainment investment, prepaid cards, and print media advertising[19] - The ultimate controlling parties of the Company are Mr. Ruan Deqing and Mr. Lin Pintong[18] Revenue and Segment Information Total revenue grew 77.1% to RMB 50.143 million, driven by outdoor and digital advertising, while print media and film entertainment revenues declined Revenue by Business Segment (For the six months ended June 30) | Business Segment | 2020 (RMB thousands) | 2019 (RMB thousands) | Year-on-year Change | | :--- | :--- | :--- | :--- | | Print Media Advertising | 208 | 643 | -67.7% | | Outdoor and Digital Advertising | 36,503 | 13,417 | +172.1% | | Film and Entertainment Investment | 3,639 | 7,619 | -52.2% | | Prepaid Card | 9,793 | 6,630 | +47.7% | | Total | 50,143 | 28,309 | +77.1% | Segment Results by Business Segment (For the six months ended June 30) | Business Segment | 2020 (RMB thousands) | 2019 (RMB thousands) | | :--- | :--- | :--- | | Print Media Advertising | (835) | (716) | | Outdoor and Digital Advertising | 2,590 | 1,467 | | Film and Entertainment Investment | (3,815) | 416 | | Prepaid Card | 333 | (3,796) | Loss Per Share Loss attributable to owners was RMB 26.432 million, resulting in a basic and diluted loss per share of RMB 4.59 cents, with share options having an anti-dilutive effect Loss Per Share Calculation | Indicator | For the six months ended June 30, 2020 | | :--- | :--- | | Loss Attributable to Owners of the Company (RMB thousands) | (26,432) | | Weighted Average Number of Ordinary Shares (thousands of shares) | 576,000 | | Basic and Diluted Loss Per Share (RMB cents) | (4.59) | Trade Receivables Net trade receivables increased slightly to RMB 78.863 million, with over 78% aged beyond 181 days, indicating elevated collection risk Trade Receivables Ageing Analysis | Ageing | June 30, 2020 (RMB thousands) | December 31, 2019 (RMB thousands) | | :--- | :--- | :--- | | Within 90 days | 11,526 | 25,739 | | 91 to 180 days | 5,230 | 4,853 | | 181 to 365 days | 24,561 | 7,429 | | Over 1 year | 37,546 | 37,746 | | Total | 78,863 | 75,767 | Share Capital On June 10, 2020, the Company completed a 10-to-1 share consolidation, resulting in 576 million issued ordinary shares with a par value of USD 0.01 - The Company completed a 10-to-1 share consolidation on June 10, 2020, resulting in 576,000,000 issued shares with a par value of USD 0.01 per share[53] Management Discussion and Analysis and Other Information Business and Financial Review Total revenue grew 77.1% to RMB 50.143 million with improved gross margin, but increased expenses led to a total comprehensive expense of RMB 20.506 million and a 52.9% net loss margin - Total revenue increased by 77.1% year-on-year, primarily due to new advertising revenue from online platforms[56][58] - Gross profit margin increased from 11.2% in the prior period to 18.5% in the current period[56] - Administrative expenses significantly increased by 237.4% year-on-year to RMB 31.197 million, mainly due to the disposal of a subsidiary to eliminate minority interests[69] - As of June 30, 2020, the Group's cash and cash equivalents were approximately RMB 11.62 million, with a current ratio of 2.81, indicating a sound financial position[72] Print Media Advertising Print media advertising revenue declined 67.7% to RMB 0.208 million, with segment loss expanding to RMB 0.835 million, as revenue failed to cover fixed costs - Print media advertising revenue decreased by 67.7% from RMB 0.643 million in the prior period to RMB 0.208 million[57] Outdoor and Digital Advertising Outdoor and digital advertising revenue surged 172.1% to RMB 36.503 million due to online advertising, though segment profit margin declined to 7.1% due to higher agency fees - Outdoor and digital advertising revenue increased by 172.1% year-on-year to RMB 36.503 million, primarily attributable to new advertising revenue from online platforms[58] - Segment profit margin decreased from 10.9% to 7.1%, mainly due to increased agency fees[61] Film and Entertainment Investment Film and entertainment investment revenue declined 52.2% to RMB 3.639 million, shifting from a profit of RMB 0.416 million to a loss of RMB 3.815 million due to increased marketing - Film and entertainment business revenue decreased by 52.2% year-on-year to RMB 3.639 million[62] - This segment recorded a loss of RMB 3.815 million, compared to a profit of RMB 0.416 million in the prior period, primarily due to marketing and promotion expenses[62] Prepaid Card Prepaid card revenue grew 47.7% to RMB 9.793 million, turning profitable with a segment profit of RMB 0.333 million, reversing a prior-period loss - Prepaid card business revenue increased by 47.7% year-on-year to RMB 9.793 million, primarily due to an increase in the prepaid card base[63] - This segment turned from a loss of RMB 3.796 million in the prior period to a profit of RMB 0.333 million[63] Outlook The Group will focus on digital advertising and prepaid card businesses, anticipating COVID-19 challenges for film entertainment but opportunities for digital advertising, while strengthening cost control - The Group will continue to focus on the development of its digital advertising and prepaid card businesses[83] - The COVID-19 pandemic is expected to negatively impact the film and entertainment investment business but may offer opportunities for digital advertising as merchants require more focused product promotion post-pandemic[83] Other Disclosures The Company complied with governance codes, did not recommend an interim dividend, had no significant securities transactions or acquisition plans, and held 57.6 million unexercised share options - The Directors do not recommend the payment of any interim dividend for the six months ended June 30, 2020[85] - During the period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[87] - As of June 30, 2020, there were 57,600,000 unexercised share options with an exercise price of HKD 0.29 per share[98]