JSCN(600959)2023-04-21 16:00Financial Performance - The company reported a basic earnings per share of CNY 0.07 for 2022, an increase of 16.67% compared to CNY 0.06 in 2021[31]. - The net profit attributable to shareholders for Q4 2022 was CNY 73,089,513.41, with a total annual net profit of CNY 327,012,799.42[34]. - The company plans to distribute a cash dividend of CNY 0.20 per 10 shares, totaling CNY 100,014,353.72 based on a total share capital of 5,000,717,686 shares as of December 31, 2022[9]. - The weighted average return on net assets for 2022 was 1.49%, an increase of 0.05 percentage points from 1.44% in 2021[31]. - The company experienced a net cash flow from operating activities of CNY 1,105,732,412.27 in Q4 2022, contributing to a total of CNY 1,999,554,000.00 for the year[34]. - The company reported a diluted earnings per share of CNY 0.07 for 2022, consistent with the basic earnings per share[31]. - The company’s net profit after deducting non-recurring gains and losses was CNY -7,392,120.29 in Q4 2022, indicating ongoing challenges in profitability[34]. - The company’s total revenue for Q4 2022 was CNY 2,109,669,238.95, contributing to an annual revenue of CNY 7,505,830,863.97[34]. - The company’s return on equity after deducting non-recurring gains and losses was -0.84% for 2022, an improvement from -0.92% in 2021[31]. - The company achieved operating revenue of RMB 7.51 billion in 2022, a year-on-year increase of 0.63% compared to RMB 7.46 billion in 2021[55]. - The net profit attributable to shareholders of the listed company was RMB 326.91 million, representing a 3.76% increase from RMB 315.07 million in the previous year[55]. - The net cash flow from operating activities decreased by 15.03% to RMB 2.00 billion, down from RMB 2.36 billion in 2021[55]. - The total assets of the company increased by 4.95% to RMB 36.93 billion at the end of 2022, compared to RMB 35.19 billion at the end of 2021[55]. - The net assets attributable to shareholders of the listed company rose by 1.02% to RMB 22.02 billion at the end of 2022, up from RMB 21.80 billion at the end of 2021[55]. - The total profit reached 408 million yuan, reflecting a year-on-year growth of 6.81%[95]. - The net profit attributable to shareholders was 327 million yuan, with a year-on-year increase of 3.76%[95]. - The gross margin for the cable television sector decreased by 1.69 percentage points to 27.32%[98]. - Operating costs increased by 3.03% to approximately CNY 5.46 billion, while sales expenses rose by 1.36% to approximately CNY 759.95 million[77]. - The net cash flow from operating activities was 2.004 billion yuan, down 15.03% from the previous year[104]. Operational Developments - The company successfully completed the upgrade of 1,050,000 set-top boxes and launched a series of IP terminal products, contributing to a fiber coverage increase of over 2 million households, reaching an overall coverage rate of 52.17%[42]. - The company launched two major 5G product packages, "Jingcai" and "Huijia," marking a significant step in its digital transformation strategy[40]. - The company received 27 national-level awards and 40 provincial-level awards for its technological innovations during the reporting period[42]. - The company is focusing on developing smart broadcasting and has achieved breakthroughs in various digital projects, including smart cities and intelligent healthcare[67]. - The company is focusing on building a new broadcasting media network and enhancing content supply through advanced technologies like 5G and big data[93]. - The company aims to strengthen its cultural data service capabilities and promote digital transformation in the industry[94]. - The company is committed to optimizing its product supply structure to meet new market demands[114]. - The company is focusing on integrating 5G technology and artificial intelligence into its operations to drive innovation[112]. - The company is enhancing its original media production capabilities to create high-quality proprietary content[144]. - The company is accelerating the construction of a national cultural special network for public service in cinema, targeting offline audience engagement[144]. Governance and Management - The company has established a clear governance structure to ensure compliance with laws and regulations, holding 1 shareholders' meeting and 4 board meetings during the reporting period[177]. - The company is committed to maintaining independence in its operations despite potential influences from its controlling shareholders[178]. - The company has complied with all legal requirements in convening its annual shareholders' meeting, ensuring proper procedures were followed[181]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 1,059.91 million[184]. - The chairman received a pre-tax remuneration of CNY 102.94 million, while the general manager received CNY 91.00 million[184]. - The independent directors each received a pre-tax remuneration of CNY 10.00 million[184]. - The chairman of the supervisory board received a pre-tax remuneration of CNY 128.97 million[184]. - The company has a diverse board with members having extensive backgrounds in various sectors, including government and finance[186]. - The company is led by experienced individuals with previous roles in significant governmental and financial institutions[186]. - The management team includes professionals with expertise in media, finance, and corporate governance[186]. - The company has a strong focus on maintaining a well-rounded and experienced board to guide its strategic direction[186]. - The board composition reflects a commitment to governance and oversight, with independent directors playing a crucial role[186]. Risks and Challenges - The company has acknowledged potential risks in its future development as outlined in the management discussion and analysis section of the report[11]. - The company faces increasing competition in the television transmission sector due to the rapid development of IPTV and OTT TV, which are encroaching on its market[147]. - The company faces risks from intensified market competition, particularly regarding the security of content transmission and potential impacts on performance and brand image[174]. - The company has approved a financial budget for 2022, including fixed asset investment projects and plans for issuing corporate bonds[154]. - The company is implementing a comprehensive safety supervision mechanism to address new risks associated with emerging business models[146]. Research and Development - Research and development expenses amounted to approximately CNY 99.06 million, accounting for 1.32% of operating revenue[85]. - The company has 2,293 R&D personnel, accounting for 12.54% of the total workforce[125]. - The company is actively pursuing a talent development strategy, focusing on enhancing employee skills and capabilities[198]. - The company has implemented a performance-based salary system, linking compensation directly to performance metrics[197]. Community Engagement - The company has actively promoted various public welfare projects, exceeding its targets for new smart broadcasting towns and subsidies for low-income households[39].