GZCBN(SH:600996)2021-04-28 16:00Financial Performance - The company reported no profit for the year 2020 and will not distribute profits or increase capital reserves[6]. - The company's operating revenue for 2020 was approximately CNY 3.47 billion, representing a 1.61% increase from CNY 3.42 billion in 2019[20]. - The net profit attributable to shareholders was a loss of approximately CNY 55.42 million, a decrease of 125.83% compared to a profit of CNY 214.53 million in 2019[20]. - The net cash flow from operating activities was approximately CNY 182.80 million, down 11.92% from CNY 207.54 million in 2019[20]. - The total assets increased by 7.05% to approximately CNY 16.15 billion at the end of 2020, compared to CNY 15.09 billion at the end of 2019[20]. - The company reported a basic earnings per share of -CNY 0.05, a decline of 123.81% from CNY 0.21 in 2019[20]. - The weighted average return on net assets was -1.15%, a decrease of 5.97 percentage points from 4.82% in 2019[20]. - The company faced challenges due to industry downturns, intensified market competition, and the impact of the COVID-19 pandemic, leading to declines in revenue from core services[20]. - The company reported a net loss of approximately 55.42 million RMB in 2020, with no cash dividends distributed[67]. Audit and Compliance - The company received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm[5]. - The board of directors confirmed that all members attended the board meeting, ensuring accountability for the report's accuracy[4]. - The report includes a forward-looking statement risk declaration, cautioning investors about potential risks[7]. - The company has not violated decision-making procedures for external guarantees[8]. - The company has not faced any risks of suspension or termination of listing[79]. - The audit report provided a standard unqualified opinion on the financial statements, affirming compliance with accounting standards[173]. - The company maintained effective internal control over financial reporting as of December 31, 2020, according to the internal control audit report[168]. Operational Developments - The company continued to develop smart broadcasting and integrated services, focusing on digital television and broadband services to enhance user experience[26]. - The company aims to transform towards high-quality development, emphasizing innovation and integration of traditional and new media[26]. - The company plans to build 400,000 5G network base stations by 2021, aiming for over 90% coverage in administrative villages[33]. - The company signed a 5G co-construction and sharing agreement with China Mobile to reduce operational costs and expand its business scope[33]. - The company is actively exploring market expansion and new strategies in the context of the national cable television network integration[54]. - The company plans to focus on market expansion and new product development to drive future growth[196]. Research and Development - The company has obtained 84 patents and 45 software copyrights, showcasing its commitment to technological innovation[30]. - The total R&D investment was CNY 33,547,244.90, accounting for 0.97% of operating revenue[46]. - Research and development expenses were CNY 23,503,648.41, down 80.63% from the previous year[44]. Shareholder and Equity Information - The company has a total external equity investment of ¥205 million, including ¥5 million in Guizhou Huiguang Education Technology Co., Ltd. and ¥200 million in Guizhou Broadcasting Co., Ltd.[56]. - The total amount of convertible bonds issued by the company was RMB 1,600 million, with a face value of RMB 100 per bond, totaling 16 million bonds[106]. - The company issued a total of 6,863 new shares during the reporting period, bringing the total number of shares to 1,051,702,155[116]. - The largest shareholder, Guizhou Broadcasting Film and Television Investment Co., Ltd., holds 443,274,686 shares, accounting for 42.15% of the total shares[126]. - The second largest shareholder, China Guizhou Moutai Distillery (Group) Co., Ltd., holds 121,423,728 shares, representing 11.55% of the total shares[126]. Social Responsibility and Community Engagement - The company implemented various public welfare projects, including smart city initiatives and emergency broadcasting systems, contributing to its growth strategy[26]. - The company has helped 188,000 registered impoverished individuals to escape poverty, with a total investment of 26,245.6 million yuan in poverty alleviation efforts[98]. - The company provided a total of 7.832 million yuan in fee reductions for 1,166,355 registered impoverished households[101]. - The company received awards for its contributions to poverty alleviation and was recognized as an advanced collective in poverty alleviation efforts by the provincial government[101]. Governance and Management - The company has a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability[160]. - The company has appointed new directors and management personnel during the 2020 annual report period[152]. - The total remuneration payable to directors, supervisors, and senior management who established labor relations with the company during the reporting period amounted to 5.88 million yuan[149]. - The company has implemented a salary policy based on performance, reflecting a principle of "more work, more pay" and prioritizing efficiency[156]. Financial Health and Liabilities - The company's total assets were RMB 1,534,833.79 million, and total liabilities were RMB 1,048,472.62 million, resulting in a debt-to-asset ratio of 68.31%[112]. - Total liabilities rose to CNY 11,505,139,194.27, compared to CNY 10,283,459,267.12, marking an increase of about 11.87%[188]. - The company's equity attributable to shareholders decreased to CNY 4,555,842,439.03 from CNY 4,716,311,927.10, a decline of approximately 3.40%[188].