Kaiser(SZ:002425)2024-10-29 11:22Business Focus and Strategy - The company reported a significant shift in its main business focus, transitioning from high-end clothing design and manufacturing to cultural exchange activities and multimedia cultural product development since September 2016[10]. - The company has engaged in various cultural and technological development activities, including film planning and game software development, reflecting its diversification strategy[10]. - The company focuses on a diversified IP strategy, leveraging popular IPs such as "Naruto" and "One Piece" to enrich its content offerings[24]. - The company aims to expand its international presence, capitalizing on the increasing share of domestic games in overseas markets[21]. - The company is actively exploring new product categories based on its existing IPs to enhance user engagement and brand reputation[34]. - The company is currently developing "Saint Seiya 2" and other adaptations, leveraging its extensive IP portfolio to drive future growth[34]. Financial Performance - The company's operating revenue for 2021 was ¥932,832,501.86, representing a 58.16% increase compared to ¥589,813,575.10 in 2020[12]. - The net profit attributable to shareholders for 2021 was ¥67,757,343.38, a decrease of 45.06% from ¥123,329,752.18 in 2020[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥111,901,362.24, which is a 12.49% increase from ¥99,473,235.13 in 2020[12]. - The total assets at the end of 2021 were ¥5,848,649,674.17, an increase of 16.76% from ¥5,009,233,120.08 at the end of 2020[13]. - The net assets attributable to shareholders at the end of 2021 were ¥5,016,544,058.55, reflecting a 20.21% increase from ¥4,173,007,133.71 at the end of 2020[13]. - The total operating revenue for 2021 reached ¥932,832,501.86, representing a year-on-year increase of 58.16% compared to ¥589,813,575.10 in 2020[36]. Shareholder and Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year 2022, indicating a focus on reinvestment[3]. - The company has a cash dividend policy that ensures at least 20% of the distributable profits are allocated as cash dividends when conditions permit[113]. - The company distributed cash dividends of 0.18 yuan per share, totaling 17,219,971.19 yuan, based on a total share capital of 956,665,066 shares[113]. - The total amount of cash dividends distributed, including share repurchase, was RMB 21,570,803, which accounted for 31.84% of the net profit and 50.96% of the distributable profit for the year[116]. Research and Development - The company has a mature R&D system and has invested in multiple studios to enhance its game development capabilities across various genres[23]. - Research and development (R&D) investment increased by 33.72% from 152,217,767.68 CNY in 2020 to 203,539,452.57 CNY in 2021, accounting for 21.82% of operating revenue[51]. - The company emphasizes the importance of employee training and development, particularly for R&D personnel[112]. - The company has initiated several R&D projects aimed at enhancing product competitiveness, including projects focused on classic IP adaptations and new gaming technologies[50]. Governance and Compliance - The company has maintained its commitment to high-end products, primarily focusing on high-quality women's and men's clothing, as well as leather products[10]. - The company has a strong commitment to compliance, with all board members present for the report's review, ensuring governance integrity[2]. - The company has implemented strict information disclosure practices, ensuring timely and accurate communication with investors[87]. - The company has established a governance mechanism to ensure effective supervision of management and the internal control system[120]. - The company is focused on regulatory compliance and protecting minors in its gaming operations as a top priority[74]. Market and User Engagement - The actual sales revenue of China's gaming market reached CNY 296.51 billion, an increase of CNY 17.83 billion, representing a year-on-year growth of 6.40%[21]. - The user base in China's gaming market reached 666 million, showing a slight year-on-year increase of 0.22%[21]. - The company achieved a revenue of 933 million yuan in 2021, representing a year-on-year growth of 58.16%[29]. - The company has established a strong market position with the ability to operate multiple games simultaneously and a robust R&D team, enhancing its market share[21]. Operational Efficiency and Cost Management - The company aims to enhance overall operational efficiency and optimize asset structure to improve financial conditions and operational results[68]. - The company's sales cost structure shows a significant increase in channel costs, which reached ¥183,950,836.25, accounting for 44.65% of total sales costs, up from 2.10% in the previous year, representing a 4,511.29% increase[40]. - The company reported a total operating cost of CNY 691,177,950.75 for 2021, which is an increase of 68% from CNY 412,090,922.47 in 2020[197]. Social Responsibility and Community Engagement - The company donated a total of 440,000 RMB to support education in its hometown and local charitable organizations[125]. - The company emphasizes the importance of social responsibility and aims to create a positive social image while ensuring compliance with laws and regulations[125]. - The company has implemented a real-name registration system for online game users to protect minors, closing the registration function for minors since September 1, 2021[125]. Financial Management and Investments - The company raised a total of CNY 900.40 million through a non-public offering, with a net amount of CNY 870.67 million after deducting fees[64]. - The company has entrusted financial management with a total amount of CNY 39.8 million, including CNY 33 million from raised funds[154]. - The company has not provided guarantees exceeding 50% of its net assets, maintaining a conservative financial strategy[153]. Audit and Financial Reporting - The company’s auditor, Zhihong Accounting Firm, received a fee of ¥1,350,000 for their services[137]. - The audit report confirmed that the financial statements fairly present the financial position and operating results of Caesar Culture Company for the year 2021[177]. - The audit identified revenue recognition as a key audit matter due to the significant risk of material misstatement[179].