CTV Media(SH:600088)2017-04-27 16:00Financial Performance - The company's operating revenue for 2016 was CNY 514,818,728.74, a slight increase of 0.25% compared to CNY 513,550,440.82 in 2015[18]. - The net profit attributable to shareholders for 2016 was a loss of CNY 124,777,813.10, a decrease of 573.00% compared to a profit of CNY 26,380,094.31 in 2015[18]. - The cash flow from operating activities for 2016 was CNY 133,875,907.75, a significant recovery from a negative cash flow of CNY -46,390,311.77 in 2015[18]. - The total assets at the end of 2016 were CNY 1,360,418,730.30, down 7.51% from CNY 1,470,904,976.09 at the end of 2015[18]. - The net assets attributable to shareholders decreased by 11.55% to CNY 1,016,857,929.24 at the end of 2016 from CNY 1,149,589,864.48 at the end of 2015[18]. - The basic earnings per share for 2016 was -CNY 0.376, a decrease of 570.00% compared to CNY 0.080 in 2015[19]. - The weighted average return on equity for 2016 was -11.51%, a decrease of 13.82 percentage points from 2.31% in 2015[19]. - The company reported a significant increase in the loss from non-recurring gains and losses, with a net profit of -CNY 128,134,625.56 for 2016 compared to a profit of CNY 21,383,108.43 in 2015, reflecting a decrease of 699.23%[18]. - The company reported a net profit margin of -6.64% for 2016, indicating a decline compared to previous years[79]. - The company reported a total revenue of 22,392 million, maintaining the same level as the previous period[120]. Cash Flow and Investments - Cash flow from operating activities reached CNY 122,954,332.48 in Q4, showing a significant recovery from previous quarters[21]. - The net cash inflow from operating activities grew by 388.59% compared to the previous year, mainly due to a 64.83% increase in cash received from advertising services[52]. - The net cash inflow from investment activities increased by 117.44% year-on-year, attributed to a significant rise in investment income and reduced long-term asset expenditures[52]. - The net cash outflow from financing activities decreased by 50% compared to the previous year, primarily due to a reduction in dividend distributions[53]. - The company received ¥580,000,000.00 from investment recoveries, significantly higher than the ¥260,000,000.00 received in the previous year[181]. Revenue Breakdown - The company's film and television business revenue was CNY 187,722,583.12, down 15.10% year-on-year[33]. - Advertising revenue reached ¥122,584,577.50, an increase of 27.57% compared to the previous year[35]. - Tourism business revenue was ¥203,860,282.32, reflecting a growth of 4.32% year-over-year[36]. - The film and television business revenue decreased by 15.10%, with a gross margin reduction of 18.66 percentage points[42]. Costs and Liabilities - Operating costs rose to ¥473,300,476.07, marking a significant increase of 25.03% compared to the previous year[39]. - The company faced a substantial increase in asset impairment losses, which rose by 353.93% to ¥142,503,246.13[40]. - The production costs in the film business increased by 46.69% compared to the same period last year, while leasing costs decreased by 57.03% due to an increase in third-party production[47]. - Total liabilities increased to CNY 302,949,111.57 from CNY 276,420,046.04, an increase of about 9.7%[166]. Shareholder Information - The company plans to distribute a cash dividend of CNY 0.25 per 10 shares, totaling CNY 8,285,550.00, based on the total share capital of 331,422,000 shares as of the end of 2016[3]. - In 2015, the company distributed a cash dividend of 0.24 RMB per 10 shares, amounting to 7,954,128.00 RMB, with a remaining undistributed profit of 187,212,340.73 RMB[77]. - The largest shareholder is China Central Television Wuxi Taihu Film City, holding 54.37% of shares, totaling 180,151,828 shares[111]. - The second largest shareholder is Jun Kang Life Insurance Co., Ltd. with 6.00% of shares, totaling 19,876,787 shares[111]. Governance and Management - The company has established four committees under the board of directors to enhance governance: Strategy Committee, Nomination Committee, Audit Committee, and Compensation and Assessment Committee[97]. - The company has appointed Ruihua Certified Public Accountants (Special General Partnership) for the 2016 financial report and internal control audit, with a total remuneration of RMB 580,000[83]. - The company has a total of 39 directors and supervisors, with various roles across multiple subsidiaries[128]. - The governance structure has been improved to comply with relevant laws and regulations, enhancing transparency and investor relations[137]. Market and Industry Outlook - The film and television industry is experiencing a shift towards quality production, with increased competition for high-quality content[64]. - The advertising market is facing challenges from new media, but strong television media continues to attract advertising investments[66]. - The tourism industry is expected to grow due to rising consumer income and improved infrastructure, despite facing some challenges[68]. Risks and Challenges - The company faces risks related to policy changes affecting film production and advertising, as well as industry competition and operational challenges[73]. - The company has ongoing significant litigation involving a total investment of RMB 125,125,000 and additional profit-sharing of RMB 5,000,000 against Zhejiang Haofeng Film and Television Entertainment Co., Ltd[84]. Employee and Organizational Structure - The company has a total of 850 employees, with 566 in the parent company and 284 in major subsidiaries[132]. - The professional composition includes 392 production personnel, 55 sales personnel, 222 technical personnel, 35 financial personnel, and 146 administrative personnel[132]. - The company encourages continuous learning and has set up training regulations to enhance employee skills and capabilities[134].