博瑞传播(600880) - 2014 Q1 - 季度财报

Important Notice Board of Directors' Statement The Board of Directors and management affirm the accuracy and completeness of this unaudited quarterly report, assuming full legal responsibility - All directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content, assuming individual and joint legal liabilities[4] - Company head Sun Xujun, chief accountant Xu Xiaodong, and head of accounting Wu Mei guarantee the truthfulness, accuracy, and completeness of the financial statements in the quarterly report[6] - The financial statements in the company's first quarter report are unaudited[7] Key Financial Data and Shareholder Changes Key Financial Data In Q1 2014, the company reported RMB 366 million in revenue, RMB 90.71 million in net profit, and a 239.11% surge in operating cash flow, with total assets increasing by 4.38% Key Financial Data for Q1 2014 | Indicator | Current Period | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 365,682,075.59 | 322,676,237.45 | 13.33 | | Net Profit Attributable to Listed Company Shareholders (RMB) | 90,708,331.68 | 88,260,843.64 | 2.77 | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-Recurring Items) (RMB) | 85,098,999.75 | 87,047,473.86 | -2.24 | | Net Cash Flow from Operating Activities (RMB) | 92,812,645.62 | 27,369,451.28 | 239.11 | | Basic Earnings Per Share (RMB/share) | 0.08 | 0.09 | -11.11 | | Weighted Average Return on Net Assets (%) | 2.57 | 3.84 | Decreased by 1.27 percentage points | | Balance Sheet Indicators | Period-End | Year-End | Period-End vs. Year-Start Change (%) | | Total Assets (RMB) | 5,049,331,456.07 | 4,837,381,135.03 | 4.38 | | Net Assets Attributable to Listed Company Shareholders (RMB) | 3,434,225,274.18 | 3,480,206,027.07 | -1.32 | Total Non-Recurring Gains and Losses | Item | Current Period Amount (RMB) | | :--- | :--- | | Total | 5,609,331.93 | Shareholder Information at Period-End As of the reporting period end, the company had 64,452 shareholders, with the top two state-owned entities holding a combined 33.52% stake - As of the end of the reporting period, the total number of shareholders was 64,452[12] Top Two Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Ratio (%) | Total Shares Held (shares) | | :--- | :--- | :--- | :--- | | Chengdu Bory Investment Holding Group Co., Ltd. | State-owned Legal Entity | 23.32 | 254,989,676 | | Chengdu News Hotel | State-owned Legal Entity | 10.20 | 111,535,758 | Significant Matters Analysis of Significant Changes in Key Financial Items Significant financial changes include 41.26% and 58.82% increases in sales and administrative expenses, a 239.11% surge in operating cash flow, a 65.51% rise in intangible assets, a 4003.37% increase in dividends payable, and a 33.73% decrease in capital reserves - Profit Statement Item Changes: * Sales Expenses: Increased by 41.26% year-on-year, primarily due to changes in consolidation scope[13] * Administrative Expenses: Increased by 58.82% year-on-year, primarily due to changes in consolidation scope[13] * Financial Expenses: Decreased by 109.38% year-on-year, primarily due to increased bank deposit interest income[13] - Cash Flow Statement Item Changes: * Net Cash Flow from Operating Activities: Increased by 239.11% year-on-year, primarily due to increased revenue scale and sales collections[13] - Balance Sheet Item Changes: * Intangible Assets: Increased by 65.51% from the beginning of the year, primarily due to the recognition of outdoor media operating rights from an acquisition[13] * Dividends Payable: Increased by 4003.37% from the beginning of the year, primarily due to the 2013 cash dividend plan being declared but not yet distributed[13] * Capital Reserves: Decreased by 33.73% from the beginning of the year, primarily due to the implementation of a capital reserve transfer plan of 6 shares for every 10 shares[13] Progress of Significant Matters The company's gaming business is progressing well, with Manyougu showing slight growth, "Arcade Heroes" exceeding RMB 10 million monthly revenue, "Dragon's Guardian" expected to reach RMB 10 million monthly, and "Dragon Seekers" stable at RMB 5 million monthly overseas - Manyougu: Operating well since its consolidation in November 2013, with slight year-on-year increases in revenue and net profit[14] - Arcade Heroes: Monthly revenue exceeded RMB 10 million for the first time in March[14] - Dream Factory's Dragon's Guardian: The iOS version performed well after launch, with overall monthly revenue expected to reach tens of millions of RMB[14] - Dragon Seekers: Overseas operations are stable, with monthly revenue consistently around RMB 5 million[14] Fulfillment of Commitments by Company and Major Shareholders Chengdu Bory Investment Holding Group Co., Ltd., a major shareholder, strictly fulfilled its share lock-up commitment during the reporting period - Shareholder Chengdu Bory Investment Holding Group Co., Ltd. committed not to transfer its subscribed non-publicly issued shares for 36 months from the listing date (October 29, 2013, to October 28, 2016), and this commitment was strictly fulfilled during the reporting period[15] Net Profit Forecast The company does not anticipate a cumulative net profit loss or significant change compared to the prior year by the next reporting period end - The company has not forecasted a potential cumulative net profit loss or significant change compared to the same period last year from the beginning of the year to the end of the next reporting period[15] Appendix: Financial Statements Consolidated Balance Sheet As of March 31, 2014, total assets reached RMB 5.049 billion (+4.38%), total liabilities RMB 1.087 billion (+19.91%), and parent company equity RMB 3.434 billion (-1.32%), driven by intangible assets and dividends payable Consolidated Balance Sheet Key Items (March 31, 2014) | Item | Period-End Balance (RMB) | Year-Start Balance (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 5,049,331,456.07 | 4,837,381,135.03 | 4.38 | | Total Liabilities | 1,086,905,239.92 | 906,469,574.07 | 19.91 | | Total Equity Attributable to Parent Company Owners | 3,434,225,274.18 | 3,480,206,027.07 | -1.32 | Parent Company Balance Sheet As of March 31, 2014, parent company total assets were RMB 3.758 billion (+2.34%), and total liabilities RMB 1.147 billion (+13.26%), mainly due to increased dividends payable Parent Company Balance Sheet Key Items (March 31, 2014) | Item | Period-End Balance (RMB) | Year-Start Balance (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 3,757,875,909.40 | 3,671,888,549.57 | 2.34 | | Total Liabilities | 1,146,953,297.87 | 1,012,653,015.64 | 13.26 | | Total Owners' Equity | 2,610,922,611.53 | 2,659,235,533.93 | -1.82 | Consolidated Income Statement In Q1 2014, total operating revenue reached RMB 388 million (+13.18%), total operating costs RMB 252 million (+17.86%), resulting in RMB 90.71 million net profit attributable to parent company owners (+2.77%) Consolidated Income Statement Key Items (Jan-Mar 2014) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 388,041,428.64 | 342,850,019.67 | 13.18 | | Total Operating Costs | 252,332,607.79 | 214,087,520.38 | 17.86 | | Total Profit | 140,393,054.58 | 127,714,538.08 | 9.93 | | Net Profit Attributable to Parent Company Owners | 90,708,331.68 | 88,260,843.64 | 2.77 | Parent Company Income Statement In Q1 2014, parent company operating revenue decreased by 10.70% to RMB 97.30 million, but net profit surged by 333.18% to RMB 88.35 million due to increased investment income Parent Company Income Statement Key Items (Jan-Mar 2014) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 97,295,200.26 | 108,951,030.05 | -10.70 | | Investment Income | 68,493,998.63 | -2,571,400.44 | Not Applicable | | Operating Profit | 94,370,526.29 | 26,194,193.10 | 259.89 | | Net Profit | 88,353,589.00 | 20,396,320.92 | 333.18 | Consolidated Cash Flow Statement In Q1 2014, net operating cash flow surged 239.11% to RMB 92.81 million, with net outflows of RMB 37.94 million from investing and RMB 36.37 million from financing activities, ending with RMB 1.014 billion in cash and equivalents Consolidated Cash Flow Statement Key Items (Jan-Mar 2014) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 92,812,645.62 | 27,369,451.28 | 239.11 | | Net Cash Flow from Investing Activities | -37,938,973.14 | -27,316,976.33 | -38.88 | | Net Cash Flow from Financing Activities | -36,374,033.32 | 1,210,126.79 | -3105.80 | | Cash and Cash Equivalents at Period-End | 1,013,600,500.12 | 492,837,338.10 | 105.64 | Parent Company Cash Flow Statement In Q1 2014, parent company operating cash flow was a -RMB 23.42 million net outflow, while investing activities generated a RMB 69.81 million net inflow, with cash and equivalents ending at RMB 536 million Parent Company Cash Flow Statement Key Items (Jan-Mar 2014) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -23,424,841.66 | 24,021,241.78 | | Net Cash Flow from Investing Activities | 69,810,131.16 | -1,127,228.26 | | Net Cash Flow from Financing Activities | -3,349,378.71 | 324,153.37 | | Cash and Cash Equivalents at Period-End | 536,214,132.26 | 199,145,208.99 |