吉视传媒(601929) - 2023 Q3 - 季度财报

Report Overview Important Notice The Board of Directors, Supervisory Board, and senior management of Jishi Media Co., Ltd. guarantee the truthfulness, accuracy, and completeness of this quarterly report, assuming legal responsibility; the financial statements for this period are unaudited - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content[3] - The third-quarter financial statements are unaudited[4] Key Financial Data Key Accounting Data and Financial Indicators The company experienced year-over-year declines in operating revenue and net profit attributable to shareholders for both Q3 2023 and year-to-date, with a significant drop in Q3 net profit, while total assets slightly increased and equity attributable to shareholders decreased Key Financial Indicators for Q3 2023 and Year-to-Date | Item | Current Period (3 months) (CNY) | YoY Change (%) | Year-to-date (9 months) (CNY) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 348,388,075.91 | -27.61 | 1,200,305,317.65 | -4.03 | | Net Profit Attributable to Shareholders of Listed Company | -244,590,816.02 | -2644.25 | -231,692,346.62 | -163.09 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | -251,647,502.00 | -33023.23 | -255,953,446.02 | -108.57 | | Net Cash Flow from Operating Activities | N/A | N/A | 124,396,072.64 | -37.45 | | Basic Earnings Per Share (CNY/share) | -0.0741 | -2655.17 | -0.0702 | 149.82 | | Diluted Earnings Per Share (CNY/share) | -0.0741 | -2655.17 | -0.0702 | 149.82 | | Weighted Average Return on Net Assets (%) | -3.57 | -2846.15 | -3.38 | 166.93 | | Item | End of Current Period (CNY) | End of Prior Year (CNY) | Change from Prior Year-end (%) | | | Total Assets | 15,233,350,130.38 | 14,690,759,118.19 | 3.69 | | | Total Equity Attributable to Shareholders of Listed Company | 6,708,507,032.31 | 6,963,908,926.34 | -3.67 | | Non-recurring Gains and Losses and Amounts During the reporting period, the company's non-recurring gains and losses primarily included government grants, debt restructuring gains/losses, and other non-operating income/expenses, with government grants significantly contributing to year-to-date non-recurring gains Non-recurring Gains and Losses for Q3 2023 and Year-to-Date | Item | Current Period Amount (CNY) | Year-to-date Amount (CNY) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -45,593.97 | -78,095.01 | | Government Grants Recognized in Current Profit/Loss | 7,626,478.01 | 22,383,213.25 | | Debt Restructuring Gains/Losses | -4,313,687.62 | 0 | | Other Non-operating Income and Expenses (Excluding the above) | 4,341,796.09 | 2,690,812.71 | | Less: Income Tax Impact | 307,980.88 | 333,776.41 | | Minority Interest Impact (After Tax) | 244,325.66 | 401,055.14 | Changes in Key Accounting Data and Financial Indicators and Reasons Several of the company's financial indicators changed significantly, with cash and cash equivalents substantially increasing due to higher borrowings, bonds payable rising significantly from new issuances, and operating profit, total profit, and net profit sharply declining due to reduced revenue, increased depreciation costs, and higher financial expenses Changes in Key Accounting Data and Financial Indicators and Reasons for 2023 | Item Name | Change (%) | Primary Reason | | :--- | :--- | :--- | | Cash and Cash Equivalents | 130.24 | Increase in cash and cash equivalents due to receipt of borrowings | | Development Costs | 105.82 | Due to capitalized R&D expenditures incurred in the current period | | Construction in Progress | 35.00 | Increase in construction in progress during the current period | | Short-term Borrowings | -57.02 | Due to repayment of short-term bank loans | | Bonds Payable | 261.68 | New bond issuance in the current period | | Advances from Customers | 2014.88 | Due to increase in advance rental receipts | | Credit Impairment Losses | -79.48 | Due to reversal and reduction of bad debt impairment losses | | Asset Impairment Losses | 98.40 | Due to decrease in prepayments | | Gains on Asset Disposal | 57.62 | Due to increase in gains from disposal of fixed assets | | Non-operating Income | -58.59 | Decrease in non-operating income due to debt forgiveness | | Operating Profit | -135.77 | Due to decrease in revenue, increase in depreciation costs, and financial expenses | | Total Profit | -159.18 | Due to decrease in revenue, increase in depreciation costs, and financial expenses | | Net Profit | -159.20 | Due to decrease in revenue, increase in depreciation costs, and financial expenses | | Net Profit Attributable to Parent Company Shareholders | -163.09 | Due to decrease in revenue, increase in depreciation costs, and financial expenses | | Minority Interest Income/Loss | 102.87 | Due to increase in profit from non-wholly owned film investment subsidiaries | | Net Profit Attributable to Shareholders of Listed Company (Current Period) | -2644.25 | Due to decrease in net profit in the current period | | Net Cash Flow from Operating Activities (Year-to-date) | -37.45 | Decrease in cash received from sales of goods and rendering of services in the current period | Shareholder Information Total Number of Common Shareholders and Number of Preferred Shareholders with Restored Voting Rights, and Shareholding of Top Ten Shareholders As of the end of the reporting period, the company had 84,596 common shareholders; among the top ten shareholders, Jilin Radio and Television Station and its affiliate Jilin Jishi Investment Co., Ltd. are parties acting in concert with a high combined shareholding, and Jishi Investment participated in securities lending business - As of the end of the reporting period, the total number of common shareholders was 84,596[13] Shareholding of Top 10 Shareholders | Shareholder Name | Shareholder Type | Number of Shares Held (shares) | Shareholding (%) | Number of Restricted Shares (shares) | Pledge, Mark, or Freeze Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Jilin Radio and Television Station | State-owned Legal Entity | 983,337,364 | 29.79 | 0 | None | | Changchun Radio and Television Station | State-owned Legal Entity | 107,113,479 | 3.24 | 0 | None | | Jilin Jishi Investment Co., Ltd. | State-owned Legal Entity | 99,164,200 | 3 | 0 | None | | Dunhua Media Convergence Center (Dunhua Radio and Television Station) | State-owned Legal Entity | 61,177,828 | 1.85 | 0 | None | | Yanji Media Convergence Center (Yanji Radio and Television Station) | State-owned Legal Entity | 37,653,136 | 1.14 | 0 | None | | Huadian Cultural Tourism Development Co., Ltd. | State-owned Legal Entity | 37,626,218 | 1.14 | 0 | None | | Zhu Guangchao | Domestic Natural Person | 33,500,000 | 1.01 | 0 | None | | Yushu Media Convergence Center (Yushu Radio and Television Station) | State-owned Legal Entity | 32,711,374 | 0.99 | 0 | None | | Xia Chongyang | Domestic Natural Person | 26,600,000 | 0.81 | 0 | None | | Nongan Xinglong Agricultural Infrastructure Development Co., Ltd. | Unknown | 17,400,000 | 0.53 | 0 | None | - Jilin Jishi Investment Co., Ltd. is a wholly-owned subsidiary of Jilin Radio and Television Station, and they are parties acting in concert; Jilin Jishi Investment Co., Ltd. participated in securities lending business, with its shareholding decreasing by 535,800 shares during the reporting period[15] Other Reminders There is no other significant information regarding the company's operating performance during the reporting period that requires special attention from investors - No other significant information regarding the company's operating performance during the reporting period requires investor attention[16] Quarterly Financial Statements Type of Audit Opinion The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[16] Financial Statements This section details the company's consolidated and parent company balance sheets, income statements, and cash flow statements, reflecting the financial position, operating results, and cash flows at the end of the reporting period Consolidated Balance Sheet As of September 30, 2023, the company's consolidated total assets increased by 3.69% from the prior year-end, primarily due to increases in cash and cash equivalents and construction in progress; total liabilities also rose, with a significant increase in bonds payable, altering the asset-liability structure Consolidated Balance Sheet Key Data (September 30, 2023 vs December 31, 2022) | Item | September 30, 2023 (CNY) | December 31, 2022 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 897,774,180.45 | 389,924,695.89 | 130.24 | | Accounts Receivable | 497,150,606.31 | 399,134,937.45 | 24.56 | | Inventories | 1,149,902,677.99 | 1,032,607,424.63 | 11.36 | | Total Current Assets | 2,830,524,127.14 | 2,134,282,798.27 | 32.62 | | Fixed Assets | 8,052,025,890.52 | 8,573,852,877.11 | -6.09 | | Construction in Progress | 1,537,963,830.11 | 1,139,225,943.12 | 35.00 | | Total Non-current Assets | 12,402,826,003.24 | 12,556,476,319.92 | -1.22 | | Total Assets | 15,233,350,130.38 | 14,690,759,118.19 | 3.69 | | Short-term Borrowings | 256,000,000.00 | 595,591,608.34 | -57.02 | | Accounts Payable | 1,251,226,808.06 | 1,343,683,327.25 | -6.88 | | Advances from Customers | 25,050,471.28 | 1,184,489.30 | 2014.88 | | Total Current Liabilities | 3,832,864,187.35 | 4,281,259,796.17 | -10.47 | | Long-term Borrowings | 3,196,098,571.44 | 2,749,405,166.09 | 16.25 | | Bonds Payable | 1,095,482,544.65 | 302,889,803.32 | 261.68 | | Total Non-current Liabilities | 4,637,675,708.26 | 3,391,324,833.18 | 36.75 | | Total Liabilities | 8,470,539,895.61 | 7,672,584,629.35 | 10.40 | | Total Equity Attributable to Parent Company Shareholders | 6,708,507,032.31 | 6,963,908,926.34 | -3.67 | | Total Equity | 6,762,810,234.77 | 7,018,174,488.84 | -3.64 | Consolidated Income Statement In the first three quarters of 2023, the company's consolidated operating revenue slightly decreased year-over-year, while total operating costs increased, resulting in significant operating and net losses, and a substantial year-over-year decline in net profit attributable to parent company shareholders Consolidated Income Statement Key Data (First Three Quarters 2023 vs First Three Quarters 2022) | Item | First Three Quarters 2023 (Jan-Sep) (CNY) | First Three Quarters 2022 (Jan-Sep) (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,200,305,317.65 | 1,250,732,190.56 | -4.03 | | Total Operating Costs | 1,458,006,150.46 | 1,386,592,187.24 | 5.15 | | Operating Profit (Losses indicated by '-') | -234,345,881.32 | -99,394,168.55 | -135.77 | | Total Profit (Total losses indicated by '-') | -231,655,068.61 | -89,380,341.28 | -159.18 | | Net Profit (Net losses indicated by '-') | -231,654,706.66 | -89,374,287.39 | -159.20 | | Net Profit Attributable to Parent Company Shareholders | -231,692,346.62 | -88,064,283.78 | -163.09 | | Basic Earnings Per Share (CNY/share) | -0.0702 | -0.0281 | -149.82 | | Diluted Earnings Per Share (CNY/share) | -0.0702 | -0.0281 | -149.82 | Consolidated Cash Flow Statement In the first three quarters of 2023, the company's net cash flow from operating activities decreased year-over-year, but cash outflow from investing activities reduced, and net cash flow from financing activities turned positive, leading to a significant improvement in net increase in cash and cash equivalents Consolidated Cash Flow Statement Key Data (First Three Quarters 2023 vs First Three Quarters 2022) | Item | First Three Quarters 2023 (Jan-Sep) (CNY) | First Three Quarters 2022 (Jan-Sep) (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 124,396,072.64 | 198,874,153.99 | -37.45 | | Net Cash Flow from Investing Activities | -331,178,227.48 | -446,293,572.06 | 25.79 (Outflow decreased) | | Net Cash Flow from Financing Activities | 653,231,190.87 | -418,663,926.57 | 255.99 (Turned from negative to positive) | | Net Increase in Cash and Cash Equivalents | 446,449,036.03 | -666,083,344.64 | 167.02 (Turned from negative to positive) | Parent Company Balance Sheet As of September 30, 2023, the parent company's total assets increased from the prior year-end, primarily due to higher cash and cash equivalents and accounts receivable; total liabilities also rose, with a significant increase in bonds payable, while total equity slightly grew Parent Company Balance Sheet Key Data (September 30, 2023 vs December 31, 2022) | Item | September 30, 2023 (CNY) | December 31, 2022 (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 808,572,148.14 | 296,331,175.82 | 172.86 | | Accounts Receivable | 550,131,888.53 | 394,099,543.03 | 39.59 | | Other Receivables | 573,467,856.92 | 432,983,781.81 | 32.45 | | Total Current Assets | 3,653,058,705.47 | 2,773,980,477.77 | 31.69 | | Construction in Progress | 1,564,986,464.84 | 1,139,225,943.12 | 37.37 | | Total Assets | 15,937,206,168.13 | 15,100,166,220.18 | 5.54 | | Short-term Borrowings | 256,000,000.00 | 595,591,608.34 | -57.02 | | Bonds Payable | 1,095,482,544.65 | 302,889,803.32 | 261.68 | | Total Liabilities | 8,243,151,061.56 | 7,444,342,644.08 | 10.73 | | Total Equity | 7,694,055,106.57 | 7,655,823,576.10 | 0.50 | Parent Company Income Statement In the first three quarters of 2023, the parent company's operating revenue slightly decreased year-over-year, but through cost control and increased investment income, both operating profit and net profit achieved substantial year-over-year growth Parent Company Income Statement Key Data (First Three Quarters 2023 vs First Three Quarters 2022) | Item | First Three Quarters 2023 (Jan-Sep) (CNY) | First Three Quarters 2022 (Jan-Sep) (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,146,837,971.34 | 1,198,681,093.65 | -4.32 | | Operating Costs | 769,909,818.87 | 799,039,600.48 | -3.64 | | Selling Expenses | 142,563,218.76 | 159,483,446.72 | -10.61 | | Administrative Expenses | 182,545,034.89 | 209,651,153.27 | -12.93 | | Investment Income (Losses indicated by '-') | 110,932,589.11 | 87,499,854.22 | 26.78 | | Operating Profit (Losses indicated by '-') | 60,272,198.92 | 13,605,240.42 | 343.01 | | Total Profit (Total losses indicated by '-') | 61,941,077.88 | 22,630,812.69 | 173.79 | | Net Profit (Net losses indicated by '-') | 61,941,077.88 | 22,630,812.69 | 173.79 | Parent Company Cash Flow Statement In the first three quarters of 2023, the parent company's net cash flow from operating activities decreased year-over-year, but cash outflow from investing activities reduced, and net cash flow from financing activities turned positive, leading to a significant improvement in net increase in cash and cash equivalents Parent Company Cash Flow Statement Key Data (First Three Quarters 2023 vs First Three Quarters 2022) | Item | First Three Quarters 2023 (Jan-Sep) (CNY) | First Three Quarters 2022 (Jan-Sep) (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 139,298,721.93 | 290,071,554.31 | -51.98 | | Net Cash Flow from Investing Activities | -341,689,389.01 | -376,368,523.74 | 9.21 (Outflow decreased) | | Net Cash Flow from Financing Activities | 653,231,190.87 | -418,663,926.57 | 255.99 (Turned from negative to positive) | | Net Increase in Cash and Cash Equivalents | 450,840,523.79 | -504,960,896.00 | 189.28 (Turned from negative to positive) |