联众(06899) - 2021 - 年度财报

Financial Performance - Revenue for the year ended 31 December 2021 was RMB 143,815,000, representing a 30.3% increase from RMB 110,407,000 in 2020[4] - Profit attributable to equity holders from continuing operations was a loss of RMB 74,367,000, compared to a profit of RMB 100,871,000 in 2020, reflecting a change of 58.9%[4] - Basic earnings per share from continuing operations was a loss of RMB 7.05, an improvement of 58.8% from a loss of RMB 17.12 in 2020[4] - The profit attributable to equity holders for the year ended December 31, 2021, was RMB 26.5 million, compared to a loss of RMB 186.4 million in 2020, primarily due to the gain on the disposal of the WPT business[36] - Revenue for 2021 amounted to RMB 143.8 million, representing an increase of RMB 33.4 million or 30.3% compared to RMB 110.4 million in 2020, driven by new business initiatives in the card and board games sector in China[37] Revenue Breakdown - Total revenue from the People's Republic of China was RMB 111,836,000, up 26.7% from RMB 88,242,000 in 2020[6] - Revenue from outside the PRC was RMB 31,979,000, an increase of 44.3% from RMB 22,165,000 in 2020[6] Assets and Liabilities - The Group's total assets as of 31 December 2021 were RMB 810,025,000, compared to RMB 735,367,000 in 2020[11] - The Group's total liabilities decreased to RMB 122,038,000 from RMB 247,481,000 in 2020[11] - The Group's total equity increased to RMB 687,987,000 from RMB 487,886,000 in 2020[11] Discontinued Operations - The Group has committed to a plan to sell the World Poker Tour business, which has been classified as discontinued operations[12] - The gain on disposal of discontinued operations amounted to RMB 319.0 million, resulting from the sale of the entire equity interests of CSI, which operated the WPT business[62] Expenses - The cost of revenue for 2021 was RMB 87.7 million, an increase of RMB 2.0 million or 2.2% from RMB 85.7 million in 2020, while the gross profit margin improved from 22.3% in 2020 to 39.0% in 2021[38] - Selling and marketing expenses surged to RMB 22.0 million in 2021, an increase of RMB 17.8 million or 424.4% compared to RMB 4.2 million in 2020, attributed to enhanced cooperation with distribution channels[44] - Administrative expenses decreased to RMB 128.9 million in 2021, down RMB 41.4 million or 24.3% from RMB 170.3 million in 2020, primarily due to changes in cash held in escrow[45] - Research and development expenses rose significantly to RMB 24.1 million in 2021, an increase of RMB 23.9 million or 15,474.8% from RMB 0.2 million in 2020, reflecting greater development efforts on online games[51] Cash and Liquidity - As of December 31, 2021, the Group's total bank balances and cash increased by 666.9% to RMB 609.1 million from RMB 79.4 million in 2020, due to proceeds from the WPT business sale[71] - The current ratio improved to 9.76 as of December 31, 2021, compared to 3.15 in 2020, indicating enhanced liquidity[71] - The Group's gearing ratio was nil, indicating no borrowings against total equity[71] Employee and Compensation - The total remuneration expenses for the year ended December 31, 2021, were RMB 77.2 million, representing a 17.4% increase compared to 2020[105] - The total employee compensation for the year ended December 31, 2021, was RMB 77.2 million, an increase of 17.4% compared to 2020[107] - The Group had 180 employees as of December 31, 2021, with 99 involved in game development and operation in the PRC[105] Strategic Initiatives - The company adopted a proactive approach to cope with regulatory challenges and market conditions, focusing on a "dual-circulation" strategy for domestic and international growth[18] - The existing business in China has shown steady growth, particularly in the "game hall" sector, while new ventures in mobile gaming and MCN broadcasting are being explored[18] - The company is actively expanding its business in Southeast Asia, including Singapore, Vietnam, and Cambodia, and is progressing with investments and partnerships in Japan[34] Share Option Schemes - The company has adopted three share option schemes, with a total of 73,062,128 share options granted to directors as of December 31, 2021[150] - The exercise price for the Employee Pre-IPO Share Option Scheme is RMB 0.1276 per share, adjusted for capitalisation[157] - The maximum number of shares available for issuance under the Employee Pre-IPO Share Option Scheme is 25,009,600 shares, granted to 29 key employees[164] - As of December 31, 2021, a total of 50,042,554 options were granted under the Management Pre-IPO Share Option Scheme, with 3,822,624 options exercised, leaving an outstanding balance of 46,219,930 options, representing approximately 4.23% of the issued shares[168] Corporate Governance and Sustainability - The company emphasizes the importance of sustainable development in environmental, social, and corporate governance practices[131] - The Group emphasizes sustainability and resource conservation, encouraging employees to save water, power, and paper[126] - The Group donated US$12,000 to the 100 Dreams Fund BroadcastHER Academy in 2021, supporting women in gaming and content creation[123] Future Outlook - The Group intends to finance future expansion and operations primarily with internal resources, while exploring other financing sources as needed[71] - The Group does not plan for any material investments or capital assets beyond what is disclosed in the annual report[110]