MANGO(SZ:300413)2017-04-20 16:00Financial Performance - The company's operating revenue for 2016 was ¥3,219,279,125.21, representing a 15.07% increase compared to ¥2,797,607,221.71 in 2015[18] - The net profit attributable to shareholders decreased by 30.04% to ¥66,528,081.88 from ¥95,095,881.79 in the previous year[18] - The net cash flow from operating activities was negative at -¥51,103,271.33, a decline of 159.36% compared to -¥20,059,156.95 in 2015[18] - The basic earnings per share fell by 32.00% to ¥0.17 from ¥0.25 in 2015[18] - The total assets at the end of 2016 were ¥2,337,878,374.24, a decrease of 1.66% from ¥2,377,224,973.39 at the end of 2015[18] - The net assets attributable to shareholders increased by 2.64% to ¥1,620,016,635.60 from ¥1,578,350,553.72 in 2015[18] - The company reported a net profit of 45,456,884.86 yuan for the year 2016, a significant increase compared to 9,583,152.89 yuan in 2015, marking a growth of approximately 373%[25] - The company’s inventory decreased by 13,103,000 yuan, a reduction of 56.30%, primarily due to a decrease in inventory at Mango Auto[31] - The company’s accounts receivable increased by 99,130,000 yuan, representing a growth of 186.25%, attributed to increased receivables from group business[31] - The company’s long-term equity investments increased by 11,560,000 yuan due to the transfer of subsidiary equity to non-consolidated affiliates[31] - The company’s fixed assets increased by 550,000 yuan, reflecting a growth rate of 0.46% compared to the previous year[31] - The company’s prepayments increased by 62,550,000 yuan, a rise of 46.48%, due to increased prepaid goods for group business[31] - The company’s financial expenses increased by 15.21% to -¥29,471,995.15 due to better management of non-operating funds[57] - The company’s cash and cash equivalents decreased by ¥498,794,571.84, a drop of 368.83% year-on-year[59] - The company reported a total revenue of 502.22 million, with a net profit of -649.68 thousand, indicating a challenging financial period[81] - The total assets of the company stand at 113.63 million, while the net assets are recorded at -349.13 thousand, reflecting a negative equity situation[81] - The subsidiary, Mango Car Home, achieved a revenue of 444.40 million, but reported a net loss of -5.46 million, highlighting operational difficulties[81] - The company reported a total revenue of 1.5 billion in 2016, representing a year-over-year increase of 10% compared to 2015[176] Business Strategy and Development - The company established a joint venture with Ruhang and He Jiao to develop a supply chain for influencer e-commerce[5] - The company is focusing on three major areas: family consumption, social e-commerce, and local life consumption[5] - The company plans to leverage its media creativity and content production advantages to build a B2B2C+ video e-commerce platform[5] - The company completed 60 offline events in the automotive e-commerce sector, selling 2,850 vehicles during the reporting period[30] - The company launched 22 outdoor live broadcasts, generating sales of 300 million yuan through innovative marketing strategies[27] - The company’s e-commerce business generated revenue of 360 million yuan, with a year-on-year growth rate of 7.31% and sales volume increasing by 32.75% to 1.1681 million units[39] - The company established new IPTV channels in Shanghai, Jiangsu, and Hunan, and collaborated with Mango TV and LeTV on OTT television[38] - The company launched the "One County One Product" initiative, creating over 20 million yuan in sales through various agricultural products[41] - The company implemented a multi-channel promotion management algorithm, enhancing overall supply chain operational efficiency[34] - The company is exploring new strategies in market expansion and product development to enhance its competitive position[82] - The company plans to transform into a multimedia integrated marketing platform, focusing on content e-commerce and utilizing internet technology[90] - The company aims to enhance its B2B and B2C business models, integrating television, mobile, and telephone channels[91] - The company is committed to government e-commerce poverty alleviation initiatives, promoting local brand influence through "one county, one product" strategy[91] - The company plans to enhance its online platform, aiming for a 30% increase in online sales by the end of 2017[176] Investment and Fundraising - The company raised a total of RMB 563.57 million from the issuance of 70 million shares at a price of RMB 9.06 per share[71] - As of December 31, 2016, the company had utilized RMB 241.87 million of the raised funds, with RMB 69.53 million used in 2016 alone[71] - The remaining balance of the raised funds was RMB 328.97 million, including interest income of RMB 7.26 million[71] - The investment progress for the "Happy Shopping E-commerce Platform Construction Project" reached 22.36% with a cumulative investment of RMB 2.86 million[73] - The "Happy Shopping Call Center Expansion Project" achieved an investment progress of 68.88% with a cumulative investment of RMB 2.55 million[73] - The "Happy Shopping Information Technology System Platform Upgrade Project" had an investment progress of 62.37% with a cumulative investment of RMB 5.18 million[73] - The "Happy Shopping HD TV Program Production System Project" reached 34.39% investment progress with a cumulative investment of RMB 3.30 million[73] - The company made a significant equity investment of RMB 60 million in Hunan Mango Creative Investment Management, holding a 14.4% stake[68] - The company has not changed the use of raised funds for any projects during the reporting period[71] - The company adjusted its investment plan for fundraising projects from CNY 147,055.76 million to CNY 66,640.62 million, with CNY 51,927 million already utilized[75] - A surplus of CNY 4,430 million in fundraising is expected after adjustments, which will be reallocated upon identification of suitable uses[75] - The company has invested CNY 110,388,346.24 in fundraising projects using self-raised funds prior to the official fundraising[75] - The company has not sold any significant assets during the reporting period[77] - The company has not encountered any major changes in project feasibility during the reporting period[74] - The company’s fundraising projects include the construction of an e-commerce platform and a call center expansion, which are still in the construction phase and have not yet generated revenue[74] Shareholder and Governance - The company distributed a total cash dividend of 18,045,000 yuan, accounting for 30.26% of the distributable profit for 2016, which was 59,629,181.68 yuan[101] - The cash dividend per 10 shares was set at 0.45 yuan (including tax), with no shares being issued or transferred[101] - The company implemented a cash dividend policy that strictly adheres to its articles of association, with a cash dividend payout ratio of 100% for the current period[97] - The company has maintained a consistent cash dividend policy over the past three years, with the cash dividend ratio remaining above 80%[99] - The company plans to reduce its shareholding by no more than 5% of the total shares held at the time of the initial public offering (IPO) within two years after the lock-up period expires[106] - The company disclosed that major shareholders, including Tianjin Red杉 Capital, plan to reduce their holdings, with a commitment to not sell at a price lower than 80% of the IPO price[109] - The company has committed to disclose any changes in shareholding rights and interests in a timely manner, including a report on the reduction of shares by major shareholders[109] - The company will not repurchase shares that are being reduced by major shareholders during the reduction period[109] - The company has fulfilled its commitments regarding share reductions as of January 21, 2018[106] - The company emphasizes strict compliance with fundraising management regulations and has established a special account for raised funds to ensure proper usage[110] - The company has committed to a cash dividend policy, prioritizing cash dividends over stock dividends, to protect the interests of minority investors[111] - The company plans to implement a three-year dividend distribution plan to further solidify its profit distribution system[112] Employee and Training - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 1,196.23 million CNY[191] - The company employed a total of 1,309 staff, including 940 in the parent company and 369 in major subsidiaries[192] - The company conducted 132 training sessions in 2016, with a total of 37,939 hours of training, representing a 416% increase in the number of participants compared to 2015[198] - The total hours of outsourced labor amounted to 1,531,769.33 hours, with total payments for outsourced labor reaching 51,428,036.83 CNY[199] - The company has a diverse employee educational background, with 55 holding master's degrees, 696 holding bachelor's degrees, and 481 holding associate degrees[195] - The company emphasizes a competitive salary policy to attract and retain talent, ensuring internal and external fairness[196] - The company has implemented a dual-channel career development system, allowing for both management and professional advancement[197] - The average training per employee in 2016 was 6.6 sessions, with an average of 25.5 hours of training per person[198] Social Responsibility and Community Engagement - The company has committed to social responsibility, generating over RMB 20 million in sales through its "One County, One Product" initiative by the end of 2016[146] - The company has maintained a 100% labor contract signing rate, ensuring employee rights and benefits[149] - The company has been recognized as a key enterprise in cultural industry reform and has received various accolades, including being named a national e-commerce demonstration enterprise[148] - The company has invested over RMB 10 million in charitable activities over the past eleven years, establishing a dedicated disaster relief fund[152] - The company aims to enhance social benefits while providing high-quality products and services to society, aligning economic and social benefits[153] - The company has not published a social responsibility report during the reporting period[153]