CSPM(601858)2021-04-27 16:00Financial Performance - The company's operating revenue for 2020 was RMB 252,393.56 million, representing a year-on-year increase of 0.63% from RMB 250,810.17 million in 2019[13]. - The net profit attributable to shareholders of the listed company was RMB 46,528.96 million, slightly up by 0.04% compared to RMB 46,509.83 million in 2019[13]. - The net cash flow from operating activities decreased by 35.17% to RMB 46,922.78 million from RMB 72,377.12 million in the previous year[14]. - The total assets at the end of 2020 were RMB 603,215.73 million, an increase of 7.43% from RMB 561,493.65 million at the end of 2019[13]. - The net assets attributable to shareholders of the listed company increased by 7.60% to RMB 425,079.11 million compared to RMB 395,066.74 million at the end of 2019[13]. - The basic earnings per share for 2020 remained at RMB 0.59, unchanged from 2019[14]. - The weighted average return on net assets was 11.29%, a decrease of 1.18 percentage points from 12.47% in 2019[14]. - The company reported non-recurring gains of CNY 14,031,535.02 in 2020, compared to CNY 35,430,448.86 in 2019, reflecting a decrease in non-operating income[18]. - The company achieved a revenue of 2.524 billion yuan in 2020, a year-on-year increase of 0.63%[38]. - The net profit for 2020 was 470 million yuan, reflecting a growth of 1.66% compared to the previous year[38]. - The total assets reached 6.032 billion yuan, marking a 7.43% increase year-on-year[38]. Business Operations and Strategy - The company aims to transition from traditional publishing to knowledge services, focusing on digital education and healthcare data services[22]. - The company has developed multiple digital education platforms, including "CourseGate" and "AiYike," to support educational services[22]. - The company has integrated over 50,000 digital content resources in its professional knowledge database, enhancing its knowledge service offerings[22]. - The company published over 3,600 new books in 2020, with a cumulative total of more than 50,000 titles across various disciplines, making it the largest comprehensive scientific publishing institution in China[32]. - The company aims to enhance its publishing quality and efficiency, aligning with the national strategy for high-quality development in the cultural industry[88]. - The company is committed to improving its talent acquisition standards, emphasizing high capability, performance, and compensation to enhance the overall quality of its workforce[96]. - The company plans to focus on content construction, emphasizing quality and thematic publishing to enhance brand influence[91]. - The company is committed to increasing its investment in technology research and development to support the transition to knowledge services[91]. - The company aims to build a knowledge service ecosystem by aggregating authoritative and structured data content resources[93]. Market and Industry Trends - The total revenue from the book publishing business was impacted by a 5.08% decline in the overall retail market in 2020, with a total market size of CNY 97.08 billion[23]. - The COVID-19 pandemic has accelerated the transformation from traditional print publishing to digital publishing, prompting the company to innovate its marketing strategies[89]. - The company is focusing on the application of emerging technologies such as 5G and AI to adapt to industry trends and consumer demands for digital publishing[109]. - The strategic importance of the cultural industry has been highlighted by national policies, aiming to build a culturally strong nation by 2035[24]. - The new Copyright Law, effective from June 1, 2021, enhances the legal environment for the publishing industry, supporting its healthy development[28]. Corporate Governance and Compliance - The company has engaged Tianzhi International Accounting Firm for internal control audit services, with a remuneration of ¥150,000[122]. - The company appointed Tianzhi International Accounting Firm as the auditor for the fiscal year 2020, with a remuneration of CNY 1,340,000[123]. - The board of directors emphasized the importance of sustainability in operations, committing to reduce carbon emissions by 20% over the next five years[158]. - The company has established a dynamic management mechanism for job positions to adapt to market changes and future development[169]. - The board held a total of 5 meetings during the year, with 3 conducted via communication and 2 in person[177]. Social Responsibility and Community Engagement - The company reported a total of 500 books donated to primary and secondary schools in Inner Mongolia and Xinjiang as part of its cultural poverty alleviation efforts[135]. - The company participated in social welfare activities, including purchasing poverty alleviation agricultural products worth CNY 245,972[135]. - The company has provided employment opportunities for 11 disabled individuals as part of its social responsibility initiatives[136]. - The company’s efforts in cultural poverty alleviation included an investment of CNY 72,600 to assist impoverished disabled individuals[136]. - The company aims to continue fulfilling its social responsibilities and promoting coordinated development with society[137]. Financial Management and Investments - The company has established a comprehensive cash dividend policy that aligns with legal regulations and protects the rights of minority shareholders[114]. - The company reported a significant increase in unallocated profits, which rose to CNY 2,382,465,648.20 from CNY 2,106,302,792.25, marking an increase of about 13.1%[193]. - The cash and cash equivalents decreased from CNY 3,801.03 million in 2019 to CNY 2,243.99 million in 2020, reflecting a decline of approximately 40.7%[191]. - The company has invested CNY 38,470,000 in bank wealth management products, with no overdue amounts[127]. - The company has multiple bank wealth management products with varying annualized returns, the highest being 3.00%[128]. Research and Development - The company is investing in new technology development, allocating $50 million towards R&D initiatives[157]. - Research and development expenses for 2020 were CNY 4,459,174.52, slightly down from CNY 4,672,598.77 in 2019, showing a decrease of approximately 4.55%[197]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $300 million for potential deals[157]. - The company plans to enhance its digital marketing strategy, aiming for a 40% increase in online sales channels[164]. Shareholder Information - The total number of ordinary shareholders increased from 22,688 to 24,201 during the reporting period[144]. - The largest shareholder, China Science Publishing Group Co., Ltd., holds 582,255,000 shares, representing 73.66% of the total shares[145]. - The company does not have any other shareholders holding more than 10% of the shares[153]. - There are no restrictions on share reduction for shareholders during the reporting period[153].