BJCT(SZ:000802)2017-10-19 16:00Financial Performance - Total assets at the end of the reporting period were CNY 5,083,723,099.24, a decrease of 3.66% compared to the end of the previous year[8] - Operating revenue for the reporting period was CNY 75,477,768.98, down 24.65% year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 19,741,209.60, a decline of 571.55% compared to the same period last year[8] - The net cash flow from operating activities for the year-to-date was CNY -606,913,697.30, a decrease of 150.63%[8] - Basic earnings per share were CNY -0.0271, a decrease of 653.06% year-on-year[8] - The weighted average return on net assets was -0.45%, compared to -0.61% in the previous year[8] Shareholder Information - The company reported a total of 57,837 common shareholders at the end of the reporting period[12] - The largest shareholder, China Huali Holdings Group Co., Ltd., held 15.69% of the shares, totaling 113,841,309 shares[12] - The first major shareholder, China Huali Holdings Group Co., Ltd., holds 113,841,309 shares, accounting for 15.6752% of the total share capital[26] Government Support - The company received government subsidies amounting to CNY 2,807,731.45 during the reporting period[9] Operational Changes - There were no significant changes in the company's strategy or new product developments reported during this quarter[15] Revenue and Costs - Revenue for the reporting period was 242.21 million, a decrease of 5.49% compared to 256.27 million in the same period last year[16] - Operating costs decreased by 7.40% to 101.74 million from 109.88 million year-on-year[16] - Sales expenses dropped significantly by 30.50% to 5.68 million, attributed to reduced expenses in subsidiary operations[16] - Management expenses decreased by 9.88% to 129.30 million from 143.47 million year-on-year[16] Cash Flow - The net cash flow from operating activities was -606.91 million, a decline of 150.63% compared to -242.15 million in the previous year[16] - Investment activities generated a net cash flow of -80.60 million, a significant improvement of 95.89% from -1,958.74 million in the previous year[16] - The company reported a net increase in cash and cash equivalents of -745.88 million, a decline of 204.37% from 714.65 million in the previous year[17] Investment Plans - The company plans to invest up to 1.3 billion in the film project "Fengshen Trilogy," with a minimum investment ratio of 20%[18] - The promotional budget for the films is set at no less than 200 million, requiring mutual written approval for expenditures[20] Share Buyback and Incentive Plans - The planned share buyback by Huali Holdings is up to 36 million shares, or 5% of the total share capital, to be executed within six months starting from June 27, 2017[26] - Huali Holdings has completed the purchase of 9,895,600 shares at an average price of 14.9932 CNY per share, totaling 14,723.06 million CNY, increasing its total shareholding to 123,736,909 shares, or 17.0542% of the total[27] - The second phase of the restricted stock incentive plan involves granting 17.7 million shares, representing 2.51% of the total share capital at the time of the plan's signing[31] - The granting price for the restricted stock is set at 11.50 CNY per share, with a lock-up period of 12 months followed by a two-phase unlocking schedule[31] - The company granted a total of 2.3 million restricted shares to four individuals, with a future board meeting planned to review the granting conditions[32] - The actual distribution of restricted shares among the recipients includes 315,000 shares for the Chairman, 305,000 for the President, and 255,000 for a Senior Vice President, among others[32] - The second phase of the restricted stock incentive plan involves 20 million shares, representing 2.83% of the company's total share capital at the time of the plan's signing[33] - The actual grant of restricted shares in the second phase totaled 1.77 million shares, accounting for 2.51% of the company's total share capital[35] - The company repurchased and canceled 350,000 shares of restricted stock from a departing employee, which is 1.75% of the total shares involved in the second phase incentive plan[36] - The repurchase price for the canceled shares was set at 11.50 RMB per share, totaling 4,025,000 RMB in repurchase funds[38] - The company achieved performance targets in 2016, meeting the conditions for the first unlocking period of the second phase restricted stock incentive plan[37] - The total number of restricted shares granted in the second phase was 230,000, which is 0.33% of the company's total share capital at the time of the plan's signing[35] - The shares granted in the second phase are scheduled to be listed on November 25, 2016[37] - The company plans to simplify processes by simultaneously handling the repurchase of 700,000 shares from two departing employees[38] Fund Management and Compliance - The company identified non-operational fund occupation by major shareholders, with a total of 7,951,000.00 CNY occupied in 2016[40] - The company has recovered occupied funds and held responsible parties accountable as per the company’s regulations[41] - The company will strictly adhere to regulations to prevent future non-operational fund occupations and protect shareholder interests[42] - The company is enhancing its compliance training for management regarding fund occupation issues to prevent future occurrences[41] Film Projects - The company has multiple film projects in progress, including "Wolf Warrior II," which is set to be released on July 27, 2017[43] - "You Are the Murderer" is scheduled for release by the end of 2017, with filming completed[44] - The film "Youth" directed by Feng Xiaogang has completed filming and is awaiting release[44] - The company is in the post-production phase for several films, including "The Wandering Earth" and "The Chinese Doctor"[44] - The company is preparing for the release of the series "The Legend of the Gods," with a tentative release date in 2020[44] - The company is actively expanding its film portfolio with various projects in different stages of production and release[44] - The company is currently preparing multiple film projects, including "The Legend of the Feather" and "The Legend of the Moon Knife," with expected release dates in 2017 and 2018[45] - The company has obtained filming permits for several projects, including "The Autumn Official Academy" and "The Queen of the Xie Family," which are currently in production[45] - The company has launched a new media project, "The Beautiful Girl Squad," which was released on May 30, 2017, on Youku[46] - The company is in the process of developing new television series, such as "Angel's Eyes" and "The Emperor's Chronicle," with expected completion dates in 2017 and 2018[47] Regulatory Compliance - The company has not reported any violations regarding external guarantees during the reporting period[54] - The company has not engaged in any securities or derivative investments during the reporting period[51][52] - The company has not initiated any poverty alleviation programs in the third quarter and has no plans for future initiatives[56] - The company has not experienced any non-operational fund occupation by major shareholders during the reporting period[55] - The company has participated in the establishment of an investment fund focused on cultural industries, indicating a strategic move towards market expansion[48] - The company has conducted several institutional research activities, reflecting its commitment to transparency and investor relations[53]