GZCBN(SH:600996)2023-04-27 16:00Financial Performance - The company reported a net profit of ¥775,600.59 from its subsidiary Zhong'an Yunwang in 2022, indicating positive financial performance [26]. - The company reported a significant increase in the value of VAT payable, rising to CNY 11,247,225.23 from CNY 1,799,611.33, which is an increase of approximately 524% [40]. - The company reported a comprehensive income total of 9,877,470.12 RMB for the year, with a significant contribution from retained earnings [145]. - The company reported a significant decrease in research and development expenses, totaling CNY 5.54 million in 2022, down from CNY 15.87 million in 2021, a reduction of approximately 65% [179]. - The company reported a comprehensive income total of CNY 187,746.29 for 2022, compared to a comprehensive loss of CNY 441,515,927.35 in 2021 [184]. Share Capital and Bonds - The company issued a total of 16 billion CNY in convertible bonds, with 1,296,539,000 CNY converted into shares, resulting in an increase of 163,170,009 shares [18]. - The total number of shares after the conversion of bonds is 1,205,738,450 shares [15]. - The total amount of convertible bonds issued by the company was 1,600 million RMB, with 1,296,539,000 RMB converted into shares by the end of 2022, increasing the total share capital to 1,205,738,450 shares [46]. - The remaining unconverted amount of convertible bonds is CNY 303,461,000, which is 18.97% of the total issued convertible bonds [91]. - The company has no guarantors for its convertible bonds, indicating a direct obligation to bondholders [89]. Assets and Liabilities - The total assets of the company are CNY 1,801,855.25 million, with total liabilities of CNY 1,213,946.91 million, resulting in a debt-to-asset ratio of 67.37% [92]. - The total current assets decreased to ¥5,745,504,298.05 in 2022 from ¥6,214,826,825.79 in 2021, reflecting a decrease of about 7.5% [108]. - The total long-term borrowings increased to ¥1,821,250,000.00 in 2022 from ¥1,471,528,083.52 in 2021, showing an increase of approximately 23.8% [111]. - The company's total liabilities decreased to CNY 12,139,469,148.08 in 2022, down from CNY 13,277,520,877.44 in 2021, representing a reduction of about 8.58% [132]. - The total owner's equity at the end of 2022 was CNY 5,334,172,709.71, compared to CNY 4,133,511,540.75, indicating an increase of around 29.00% [137]. Revenue and Expenses - The main business revenue for the company in 2022 was CNY 3,702,792,186.86, with engineering and installation revenue accounting for CNY 1,067,535,150.76, or 28.83% of total revenue [99]. - Total operating revenue for 2022 reached CNY 3,723,895,286.19, an increase of 33.8% compared to CNY 2,783,957,971.25 in 2021 [186]. - Total operating costs for 2022 were CNY 4,064,173,100.84, up 35.5% from CNY 2,999,084,733.76 in 2021 [186]. - The financial expenses for 2022 were CNY 309.35 million, an increase from CNY 209.48 million in 2021, indicating a rise of about 47.7% [179]. - The company’s investment income rose significantly to CNY 417,046,538.53 in 2022, compared to CNY 7,514,828.59 in 2021 [186]. Shareholder Information - As of December 31, 2022, the total number of ordinary shareholders is 75,522 [19]. - The top shareholder, Guizhou Broadcasting and Television Investment Co., Ltd., holds 443,274,686 shares, accounting for 36.76% of total shares [50]. - China Guizhou Moutai Distillery (Group) Co., Ltd. is the second-largest shareholder with 121,423,728 shares, representing 10.07% [50]. - The report indicates no changes in the controlling shareholder during the reporting period [54]. - The actual controller of the company is the Propaganda Department of the CPC Guizhou Provincial Committee [55]. Operational Highlights - The company operates primarily in cable network program integration, video on demand, and copyright trading [54]. - The company has maintained its operational capabilities and has no significant issues affecting its ability to continue as a going concern for at least the next 12 months [157]. - The company plans to continue focusing on market expansion and new product development as part of its future strategy [172]. - The company has acknowledged potential risks associated with forward-looking statements and emphasizes the importance of investor caution [172]. - The company plans to enhance its market presence through strategic acquisitions and partnerships in key regions [200]. Cash Flow and Investments - Cash flow from operating activities generated CNY 329,528,339.23, an increase from CNY 266,436,449.35 in the previous year [184]. - The net cash flow from investing activities was -873,404,441.51 RMB, a decrease from -1,476,235,528.18 RMB in the previous period [142]. - The company’s cash inflow from loans was 4,718,921,894.37 RMB, an increase from 4,293,538,780.00 RMB in the prior year [142]. - The company signed a strategic emerging industry working capital loan agreement with China Export-Import Bank for 300,000,000.00 RMB, with a term of 24 months and an annual interest rate of 4.6% [113]. - The company has a plan to repay long-term borrowings with scheduled payments of ¥25,000,000.00 annually from 2024 to 2031 [111].