蓝港互动(08267) - 2019 - 年度财报

Financial Performance - In 2019, the company faced a challenging market environment in the entertainment industry, leading to a revenue decline but a significant reduction in losses[26]. - The company reported a significant narrowing of losses in the fiscal year 2019, indicating a positive adjustment for long-term development[40]. - Total revenue for the year ended December 31, 2019, was RMB 170,050,000, a decrease of approximately 49.1% from RMB 334,160,000 in 2018[57]. - Revenue from self-developed games was RMB 58,885,000, accounting for 34.6% of total revenue, while agency games generated RMB 111,165,000, making up 65.4%[57]. - Gross profit for the year was RMB 71,100,000, down approximately 58.5% from RMB 171,400,000 in 2018, with a gross margin of 31.5% compared to 37.4% in the previous year[63]. - The company reported a net loss attributable to owners of RMB 108,700,000 for the year, a decrease of approximately 34.9% from RMB 166,900,000 in 2018[77]. - The adjusted net loss for the year ended December 31, 2019, was approximately RMB 43.1 million, a decrease of 53.9% compared to the adjusted net loss of RMB 93.7 million for the year ended December 31, 2018[79]. Gaming Sector Developments - The company's main business in the gaming sector focused on exploring overseas markets, particularly in Japan and South Korea, while increasing development of female-oriented mobile games and casual games[26]. - The tightening of licensing policies and increased competition in the gaming industry posed significant challenges to the company's growth[26]. - The self-developed game "Gong Er Tian Gong" launched on March 28, 2019, received nearly 10 million registered players and topped various app store charts[27]. - The company has established a casual game development team to enhance competitiveness in the casual gaming market, focusing on ultra-casual, mid-casual, strategy, and female-oriented games[27]. - The company continues to expand in overseas markets, with a Korean subsidiary established in 2014 and the recent launch of the Korean version of "Yi Meng Jiang Hu" on March 18, 2019[27]. - The company aims to maintain a premium strategy in its gaming business while launching several self-developed products in the domestic market in 2020[29]. - The company is set to begin production on various projects, including adaptations of popular works and original content, in 2020[29]. - The company is focusing on enhancing its product portfolio by forming a casual game development team targeting ultra-casual, mid-core casual, strategy, and female-oriented games[42]. - The company plans to deepen its overseas market presence, with Japan identified as the second key market after Korea, supported by a team with experience in top 30 Japanese products[43]. - The company's gaming titles, including "The Road to the Ocean" and "Dawn of Light," continue to contribute profits, with ongoing global promotion efforts[43]. Film and Television Segment - The company enhanced its talent acquisition and training in the film and television sector, enriching its IP reserves to support future project development[26]. - The film and television division, "Blue Harbor Pictures," has rapidly developed, with successful releases such as "I and Your Light Year Distance 2" and upcoming projects like "As a Fat Person" and "The Original You Are Mr. Gu" planned for 2020[27]. - In 2019, the company's film and television segment confirmed revenue of approximately RMB 56 million, a decrease of about 54.7% compared to RMB 123.6 million in 2018, primarily due to production delays[54]. Operational Strategy - The company adopted a cautious operational strategy in response to market conditions, which is expected to facilitate long-term development[26]. - The company plans to deepen its focus on key markets like Korea and Japan while continuing to explore the commercial value of its IPs[29]. - The company is entering a matrix layout phase in 2020, focusing on continuous development of key products and has several high-quality content reserves[45]. - The company has implemented strategies to reserve more time for enhancing game quality and launching competitive titles[53]. Employee and Governance - The total employee compensation for the year ended December 31, 2019, was approximately RMB 75.3 million, down from RMB 147.5 million in 2018, reflecting a strategic reduction in workforce[94]. - The group had a total of 175 employees as of December 31, 2019, a decrease from 284 employees as of December 31, 2018, primarily due to the need for efficiency improvements[93]. - The board of directors consists of 4 executive directors, 1 non-executive director, and 3 independent non-executive directors, complying with GEM listing rules[110]. - The company has established three board committees: the Remuneration Committee, the Nomination Committee, and the Audit Committee, to oversee specific areas of governance[124]. - The company has adopted a board diversity policy since December 29, 2014, which was revised on December 27, 2018, considering factors such as gender, age, culture, and professional experience in board composition[133]. Risk Management and Internal Control - The company emphasizes the importance of risk management and has set clear objectives to identify and analyze risks[155]. - The internal audit function is tasked with evaluating the effectiveness of risk management and internal control systems[155]. - The audit committee has confirmed that the consolidated financial statements for the year ending December 31, 2019, comply with applicable accounting standards and GEM listing rules[135]. - The company is committed to continuous improvement in its internal control systems, with ongoing evaluations of major risks and compliance measures[159]. Environmental and Social Responsibility - The company has implemented resource-saving measures, including promoting paper reuse and energy-efficient office equipment[183]. - The company encourages green commuting and the use of public transportation to enhance energy efficiency[183]. - The company has established communication mechanisms with stakeholders, including government, shareholders, employees, and customers, to address ESG concerns[176]. - The company actively promotes sustainable development principles in its operations, contributing to global sustainability efforts[182].