GZCBN(SH:600996)2022-04-28 16:00Financial Performance - The company reported no profit for the year 2021 and will not distribute profits or increase capital reserves[6]. - The company's operating revenue for 2021 was CNY 2,783,957,971.25, a decrease of 19.84% compared to CNY 3,473,095,289.49 in 2020[23]. - The net profit attributable to shareholders was -CNY 445,267,983.15 in 2021, compared to -CNY 55,420,889.49 in 2020, indicating a significant decline[23]. - The basic earnings per share for 2021 was -CNY 0.42, compared to -CNY 0.05 in 2020[23]. - The weighted average return on equity decreased by 9.13 percentage points to -10.28% in 2021 from -1.15% in 2020[23]. - The company achieved an operating revenue of 27.84 billion yuan and a net profit attributable to shareholders of -445 million yuan for the reporting period[29]. - The total assets at the end of 2021 were CNY 17,904,118,300.93, reflecting a 10.86% increase from CNY 16,150,742,838.12 at the end of 2020[23]. - The net cash flow from operating activities increased by 45.75% to CNY 266,436,449.35 in 2021 from CNY 182,797,833.77 in 2020[23]. - The company reported a significant increase in financing cash flow, which rose by 535.87% to CNY 1.92 billion from CNY 302 million in the previous year[39]. - The company reported a net loss of ¥445,267,983.15 for the year 2021, which does not meet the conditions for cash dividends[101]. Shareholder Information - The company has a total of 5% or more shareholders, including the Moutai Group[14]. - The top ten shareholders hold a total of 42.15% of shares, with Guizhou Broadcasting and Television Investment Co., Ltd. being the largest shareholder at 443,274,686 shares[152]. - The actual controller of the company changed to the Propaganda Department of the Guizhou Provincial Committee, which indirectly holds 44.21% of the company's equity[159]. - The company has 40,322 ordinary shareholders as of the end of the reporting period[150]. - The total number of shares held by the board members and senior management at the beginning and end of the reporting period was not disclosed[77]. Governance and Management - The company is under the control of the Guizhou Provincial Party Committee's Publicity Department[14]. - The company has a diverse board with members having extensive experience in various sectors, including media, finance, and law[80]. - The company is focused on maintaining strong governance with independent directors and a supervisory board[80]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 5.72 million CNY[77]. - The company has established a remuneration decision-making process involving the provincial propaganda department and the provincial state-owned cultural enterprise reform office[88]. Operational Developments - The company has established subsidiaries to enhance its technological and market competitiveness, focusing on cultural, tourism, and technology integration[31]. - The company is actively preparing for the commercial launch of 5G services, aligning with national directives[31]. - The company completed the construction of an emergency broadcasting system, achieving full access for 15 counties in Zunyi City[29]. - The company has filed for 4 new patents during the reporting period, bringing the total to 86 patents and 53 software copyrights[33]. - The company has constructed a smart broadcasting transmission network that integrates wired, wireless, broadband, and narrowband services[111]. Related Party Transactions - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[125]. - The company has committed to ensuring that any related party transactions are conducted fairly and do not harm the interests of other shareholders[119]. - The total amount of related party transactions during the reporting period was RMB 159.67 million, with a significant portion (RMB 144.59 million) resulting from the change in actual control, accounting for 90.56% of the total[135]. - The related party transactions were conducted on a fair and reasonable basis, with no adverse impact on the company's financial status or operational results[135]. Research and Development - The company has 87 R&D personnel, representing 1.33% of the total workforce[50]. - R&D expenses totaled ¥26,595,742.82, accounting for 0.96% of operating revenue[49]. - Research and development expenses for 2021 were CNY 21,327,997.25, slightly down from CNY 23,503,648.41 in 2020[193]. - The company has actively engaged in new business areas such as smart forestry and environmental pollution monitoring[108]. Financial Audit and Compliance - The company received a standard unqualified audit report from Xinyong Zhonghe Accounting Firm[5]. - The audit report confirmed that the financial statements fairly reflect the financial position and operating results of the company as of December 31, 2021[172]. - The company has established an internal control system, ensuring effective financial reporting controls as confirmed by the internal control audit report[106]. - The company has not encountered any violations regarding guarantees during the reporting period[125]. Market and User Engagement - Guizhou Broadcasting Network reported a significant increase in user data, reaching 10 million subscribers, representing a growth of 15% year-over-year[81]. - The number of digital television terminal users reached 8.69 million, including 6.12 million high-definition interactive users and a significant increase in broadband users[29]. - The company has initiated a new marketing strategy aimed at increasing brand awareness and customer engagement, with a budget allocation of 50 million RMB for 2022[84]. Strategic Initiatives - The company plans to implement a strategy of "one cloud, dual engines, three sectors, and four breakthroughs" to drive comprehensive development across urban, rural, and external markets[65]. - The company is focusing on high-quality development, aligning its operations with national and provincial strategic needs, particularly in 5G and smart broadcasting[66]. - The company is committed to optimizing its product structure and diversifying its customer base to reduce reliance on government projects[68].