Changjiang Media(600757)2023-04-20 16:00Financial Performance - The gross profit margin for the reporting period was 60%, showing a slight decrease from 59% in the previous period[1]. - The revenue from the publishing business for self-compiled educational materials was 591.57 million RMB, reflecting an 11% increase[52]. - The revenue from the distribution business for educational materials increased by 21% to 4,231.12 million RMB[52]. - The self-published educational materials sales volume increased by 18% to 1,232 million copies, with revenue rising by 13% to 1,441.69 million RMB[52]. - The general book sales volume decreased by 5% to 769.8 million copies, with revenue declining by 1% to 291.97 million RMB[52]. - The company reported a total revenue of 7,076 million RMB from the publication of "Primary School Students' World," with a distribution volume of 114 million copies[58]. - The total revenue from "Junior High School Students' World" was 2,423 million RMB, with a distribution volume of 39 million copies[58]. - The net profit attributable to ordinary shareholders in the consolidated financial statements is 729,334,143.19 CNY[137]. - The cash dividend amount (including tax) is 388,368,087.36 CNY, which accounts for 53.25% of the net profit attributable to ordinary shareholders in the consolidated financial statements[137]. Research and Development - The company achieved a total R&D investment of ¥22,244,064.05, which represents 0.35% of its operating revenue[17]. - The company has made significant progress in digital content resource transformation, contributing to its strategic growth[8]. - The company is leveraging new technologies such as cloud computing and big data to improve its educational services and resource offerings[1]. - The company has successfully launched several key projects, such as the "Yangtze Media Digital Asset Management Platform," to drive digital transformation[8]. Market Position and Strategy - The company maintains a stable market share in the rental and agency model for educational materials, with a focus on K-12 textbooks in Hubei province[25]. - The company has established a comprehensive industry chain that includes publishing, distribution, and digital education, enhancing its market competitiveness[9]. - The company has secured exclusive agency rights for educational products from six major publishing houses in Hubei province[25]. - The company has implemented a multi-channel marketing strategy, including online and offline integration, to meet evolving consumer demands[6]. - The company is focusing on high-quality development and aims to enhance its market expansion and innovation capabilities[40]. - The company aims to drive high-quality development through reforms in labor, personnel, and distribution systems, promoting market-oriented management[71]. - The company is actively pursuing digital transformation and enhancing its market competitiveness amid increasing industry competition[75]. Corporate Governance - During the reporting period, the board held 3 shareholder meetings, 10 board meetings, and 29 chairman office meetings, discussing a total of 119 topics to enhance corporate governance and decision-making processes[99]. - The company published a total of 39 announcements during the reporting period, successfully completing the preparation and disclosure of its 2021 annual report and 2022 interim reports[99]. - The company is committed to improving the effectiveness of its corporate governance structure, ensuring clear responsibilities and efficient operations among shareholders, the board, and management[99]. - The company has appointed one new shareholder director to enhance its governance structure during the reporting period[99]. - The company has implemented strict compliance with the latest regulatory requirements for listed companies, ensuring high-quality information disclosure[99]. Human Resources and Training - The total number of employees in the company is 4,967, with 1,005 in production, 2,108 in sales, 934 in technology, 352 in finance, and 568 in administration[114]. - The company organized 22 internal training sessions with approximately 1,900 participants, 11 external training sessions with 12 participants, and 4 online training sessions with 408 participants throughout the year[115]. - The company has established a salary performance management system to motivate employees while ensuring that executive compensation aligns with employee salaries[114]. - The company has established a performance evaluation system for senior management, with a focus on operational performance and management indicators[137]. Community Engagement and Social Responsibility - The company has invested a total of 310.70 million CNY in public welfare projects, including 307.50 million CNY in cash donations[148]. - The company has implemented rent reductions for 378 tenants, totaling 12.56 million CNY in rent relief[152]. - The company conducted a "big visit, big investigation, big improvement" activity to monitor and evaluate poverty alleviation efforts, ensuring no one falls back into poverty[157]. - The company donated 310,700 yuan in funds and books to support rural education and improve school conditions, contributing to the development of grassroots education[169]. - The company engaged in community service activities, benefiting over 200,000 people through various cultural events and reading initiatives[169]. - The company has actively participated in talent training and donated educational materials worth 50,000 yuan to local schools[195]. Financial Position - As of December 31, 2022, the total assets of Changjiang Publishing & Media Co., Ltd. amounted to CNY 12,471,831,381.52, an increase from CNY 11,690,865,579.08 in 2021, representing a growth of approximately 6.7%[89]. - The total current assets decreased to CNY 7,993,983,981.20 in 2022 from CNY 8,925,551,211.41 in 2021, reflecting a decline of about 10.4%[89]. - Cash and cash equivalents dropped to CNY 1,683,542,057.52 in 2022, down from CNY 2,042,549,357.68 in 2021, a decrease of approximately 17.6%[89]. - The total liabilities increased to CNY 3,989,975,707.02 in 2022, compared to CNY 3,493,864,871.71 in 2021, marking an increase of around 14.2%[94]. - The company's total equity rose to CNY 8,481,855,674.50 in 2022 from CNY 8,197,000,707.37 in 2021, indicating an increase of approximately 3.5%[94]. - The accounts receivable stood at CNY 819,099,864.73 in 2022, slightly down from CNY 869,756,491.45 in 2021, a decrease of about 5.8%[89]. - The inventory increased to CNY 1,386,088,099.73 in 2022, up from CNY 1,165,468,535.43 in 2021, reflecting a growth of approximately 19%[89]. - The company's short-term borrowings were recorded at CNY 10,000,000.00 in 2021, with no new short-term borrowings reported for 2022[94]. - The total non-current assets significantly increased to CNY 4,477,847,400.32 in 2022 from CNY 2,765,314,367.67 in 2021, representing a growth of approximately 62%[92]. - The company's retained earnings rose to CNY 4,641,785,738.70 in 2022, compared to CNY 4,520,584,789.12 in 2021, an increase of about 2.7%[94].