华谊兄弟(300027) - 2025 Q2 - 季度财报

Item 1 Important Notice, Table of Contents and Definitions This section provides crucial disclaimers, outlines the report's structure, lists reference documents, and defines key terms for consistent understanding. Important Notice The Board, Supervisory Board, and senior management guarantee the report's accuracy, while the company's leadership confirms the financial statements' integrity, with no planned dividends or bonus shares. - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, assuming individual and joint legal responsibility for any misrepresentations or omissions[5] - Chairman Wang Zhongjun, Chief Accountant Wang Tianyuan, and Head of Accounting Department Wang Tianyuan declare that the financial report in this semi-annual report is true, accurate, and complete[6] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[10] Table of Contents This section lists the report's eight main chapters and their starting page numbers, guiding investors to specific content. - The report's table of contents clearly lists eight main chapters, including important notices, company profile, management discussion and analysis, corporate governance, significant matters, share changes, bond information, and financial reports[12] Reference Documents This section specifies the list of reference documents, including the chairman's signed report, financial statements, and other disclosures, available at the company's board office. - Reference documents include the original 2025 semi-annual report signed by Chairman Wang Zhongjun[14] - Reference documents are available at the company's Board of Directors Office[15] Definitions This section defines common terms used in the report, such as "Huayi Brothers" and "reporting period," ensuring consistent understanding. - "Reporting Period" refers to January-June 2025[17] - "Prior Period" refers to January-June 2024[17] Item 2 Company Profile and Key Financial Indicators This section provides an overview of the company's fundamental information and presents key financial performance metrics and indicators for the reporting period. 1. Company Profile This section details Huayi Brothers Media Corporation's basic information, including stock details and legal representative, noting no changes in contact or registration details from the 2024 annual report. Company Profile | Stock Abbreviation | Huayi Brothers | | :--- | :--- | | Stock Code | 300027 | | Stock Exchange | Shenzhen Stock Exchange | | Company's Chinese Name | Huayi Brothers Media Corporation | | Legal Representative | Wang Zhongjun | - The company's registered address, office address, postal code, website, and email address remained unchanged during the reporting period, as detailed in the 2024 annual report[21] 4. Key Accounting Data and Financial Indicators During the reporting period, the company's operating revenue significantly decreased by 50.37%, with net profit attributable to shareholders turning to a loss, declining by 401.15%. Key Accounting Data and Financial Indicators | Indicator | Current Reporting Period | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 152,855,483.18 | 308,013,637.45 | -50.37% | | Net Profit Attributable to Shareholders (CNY) | -74,436,792.83 | 24,717,275.24 | -401.15% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Gains and Losses (CNY) | -112,168,990.33 | 18,765,274.17 | -697.75% | | Net Cash Flow from Operating Activities (CNY) | -29,086,158.80 | -44,494,602.49 | 34.63% | | Basic Earnings Per Share (CNY/share) | -0.03 | 0.01 | -400.00% | | Diluted Earnings Per Share (CNY/share) | -0.03 | 0.01 | -400.00% | | Weighted Average Return on Net Assets | -22.03% | 3.60% | -25.63% | | As of Current Reporting Period End | As of Prior Year End | YoY Change as of Current Reporting Period End | | | Total Assets (CNY) | 2,701,506,328.19 | 3,034,373,817.85 | -10.97% | | Net Assets Attributable to Shareholders (CNY) | 300,608,342.76 | 361,484,995.09 | -16.84% | 5. Differences in Accounting Data Under Domestic and Overseas Accounting Standards The company's financial reports show no differences in net profit and net assets between international/overseas accounting standards and Chinese accounting standards. - The company's financial reports for the reporting period show no differences in net profit and net assets when disclosed under International Accounting Standards versus Chinese Accounting Standards[26] - The company's financial reports for the reporting period show no differences in net profit and net assets when disclosed under overseas accounting standards versus Chinese Accounting Standards[28] 6. Non-Recurring Gains and Losses Items and Amounts This section details non-recurring gains and losses, totaling CNY 37.73 million, primarily from asset disposals, government grants, and fair value changes. Non-Recurring Gains and Losses Items and Amounts | Item | Amount (CNY) | | :--- | :--- | | Gains or losses from disposal of non-current assets (including the write-off portion of asset impairment provisions) | 2,265,510.20 | | Government grants recognized in current profit or loss (excluding government grants closely related to the company's normal business operations, compliant with national policies, enjoyed according to fixed standards, and having a continuous impact on the company's profit or loss) | 6,659,396.71 | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises, excluding effective hedge accounting related to normal business operations | 34,002,133.16 | | Other non-operating income and expenses apart from the above items | -4,231,026.98 | | Subtotal | 38,696,013.09 | | Less: Income tax impact | 912,060.43 | | Minority interest impact (after tax) | 51,755.16 | | Total | 37,732,197.50 | Item 3 Management Discussion and Analysis This section provides an in-depth review of the company's operations, strategic initiatives, financial performance, and risk management during the reporting period. 1. Company's Main Businesses During the Reporting Period The company continued its "film production + IP operation" light-asset model, focusing on high-quality content, IP value chain integration, cultural tourism, and asset optimization. - The company continues to focus its quality resources on the "film production + IP operation" light-asset business model to accelerate its return to healthy development[33] - In film, "Sunshine Flower" directed by Feng Xiaogang and starring Zhao Liying was released on April 4, 2025; "Breakup Checklist" directed by Tian Yusheng and starring Ou Hao, Zeng Mengxue was released on June 14, 2025; "Lychees in Chang'an" directed by Dapeng and starring Dapeng, Bai Ke, Zhuang Dafie was released on July 18, 2025[35] - In TV series, several dramas and web series, such as "Jiang Song" (launched April 28, 2025) and "Parrot" (launched June 28, 2025), are steadily progressing[36] - For short dramas, the company officially launched the "Huayi Brothers Fire Drama" brand, with several short dramas already online and AI film production underway[38] - As of the end of the reporting period, the company operates 27 cinemas[39] - The company optimized its assets by disposing of some equity investments to better support its main business development strategy, aligning with market conditions and industry cycles[43] (3) Company Development Strategy The company pursues "Strong Core," "Grand Entertainment Ecosystem," and "Globalization" strategies, aiming to become a world-class entertainment group rooted in Chinese culture. - The company adheres to three development strategies: "Strong Core" (producing high-quality original content), "Grand Entertainment Ecosystem" (IP integration, derivation, and operation to empower new consumption scenarios), and "Globalization" (creating global film and television works with Chinese culture at their core)[44] - The company is committed to becoming a world-class entertainment group with Chinese heritage, delivering exciting entertainment content and products to a global audience[45] [(4) Implementation of Company's Operating Plan for 2025](index=