CTV Media(SH:600088)2016-04-27 16:00Financial Performance - The company's operating revenue for 2015 was CNY 513,550,440.82, a decrease of 32.07% compared to CNY 756,038,254.97 in 2014[16]. - The net profit attributable to shareholders for 2015 was CNY 26,380,094.31, down 49.95% from CNY 52,704,065.87 in the previous year[16]. - The basic earnings per share for 2015 was CNY 0.080, reflecting a decline of 49.69% compared to CNY 0.159 in 2014[17]. - The cash flow from operating activities for 2015 was negative CNY 46,390,311.77, a significant decline from positive CNY 92,953,144.79 in 2014[16]. - The weighted average return on equity for 2015 was 2.31%, down from 4.69% in 2014, indicating a decrease of 2.38 percentage points[17]. - The net profit after deducting non-recurring gains and losses was CNY 21,383,108.43, a decrease of 52.46% from CNY 44,975,242.07 in 2014[16]. - The company's film and television business revenue was ¥221,099,769.42, a decrease of 38.52% compared to the same period last year, primarily due to strategic adjustments in response to policy and market changes[33]. - Advertising business revenue was ¥96,093,562.36, down 55.84% year-on-year, influenced by the slow development of regional agents and competition from new media[34]. - The company's net profit attributable to shareholders and earnings per share decreased compared to the previous year due to the decline in film, television, and advertising revenues[37]. Assets and Liabilities - The total assets at the end of 2015 amounted to CNY 1,470,904,976.09, a decrease of 2.47% from CNY 1,508,230,889.76 at the end of 2014[16]. - The total equity attributable to shareholders at the end of 2015 was CNY 1,149,589,864.48, a slight increase of 0.92% from CNY 1,139,118,026.17 at the end of 2014[16]. - The company's accounts receivable decreased by 18.44% year-on-year, while prepayments increased by 913.80%[57]. - The company's long-term deferred expenses increased by 1,047.52% compared to the beginning of the year, attributed to the payment of 10-year rent for office building basements by the company and two subsidiaries[58]. - The company's total current assets amounted to ¥1,028,851,778.90, a decrease from ¥1,052,669,269.29 at the beginning of the year[164]. - The company's non-current assets totaled ¥442,053,197.19, down from ¥455,561,620.47 at the start of the year[164]. - Total liabilities remained unchanged at ¥99,087,584.36[169]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.24 per 10 shares, totaling CNY 7,954,128.00, based on the total share capital of 331,422,000 shares[3]. - In 2015, the company distributed a cash dividend of 0.24 RMB per 10 shares, totaling 7,954,128 RMB, which represents 30.15% of the net profit attributable to shareholders[79]. - The profit distribution to shareholders resulted in a negative impact of 20,548,163.99, highlighting the challenges faced in profit allocation[193]. Business Segments and Strategy - The company continues to focus on film and television production, advertising, and tourism as its main business segments[25]. - The domestic film and television market has entered a stable growth period, with a competitive landscape that favors quality over quantity[25]. - The company is committed to enhancing its investment and production capabilities in the film and television sector[28]. - The company aims to enhance its brand position in the film and television business while expanding its market and industry chain in the advertising sector[70]. - The tourism segment will continue to leverage past growth, focusing on regional short trips and self-driving tours to ensure new revenue streams[71]. Management and Governance - The company has engaged Ruihua Certified Public Accountants for auditing services, with a total fee of 580,000 RMB for the 2015 fiscal year[82]. - The company has a management agreement with CCTV for assets in Nanhai Film City, which allows the company to operate these assets independently without any fees from CCTV[86]. - The company has established a transparent information disclosure system, ensuring timely and accurate reporting to stakeholders[143]. - The company has a board of directors consisting of 8 members, including 3 independent directors, complying with legal and regulatory requirements[142]. - The company has maintained independence from its controlling shareholder, with no interference in decision-making or operational activities[142]. Employee and Workforce - The company employed a total of 892 staff members, with 529 in the parent company and 363 in major subsidiaries[136]. - The professional composition of employees includes 558 production personnel, 46 sales personnel, 128 technical personnel, 26 financial personnel, and 134 administrative personnel[136]. - The company encourages continuous learning and has set up training programs to enhance the skills of its workforce[138]. Financial Management and Investments - The company has invested in wealth management products, including a principal-protected floating rate product with a total amount of 200 million RMB[93]. - The company has a total of 2.6 billion RMB in structured deposits as part of its financial management strategy[93]. - The company authorized a fund of RMB 300 million for purchasing short-term financial products from state-owned or large joint-stock banks, with a single product term not exceeding 180 days[96]. Risks and Challenges - The company faces risks from policy changes affecting film production and advertising, which could impact revenue[73]. - The company has identified industry risks, including increased competition in the television drama market and challenges from new media in advertising[74].