BJCT(SZ:000802)2020-08-27 16:00Financial Performance - The company's operating revenue for the reporting period was ¥5,648,511.46, a decrease of 91.37% compared to the same period last year, which reported ¥62,107,548.50[17]. - The net profit attributable to shareholders was a loss of ¥64,298,318.08, worsening by 39.87% from a loss of ¥55,603,177.58 in the previous year[17]. - The basic earnings per share were -¥0.0898, a decline of 39.88% from -¥0.0777 in the previous year[17]. - The company reported a net loss of CNY 1,601,483,500.82, compared to a loss of CNY 1,553,305,979.01 in the previous period[140]. - The net loss for the first half of 2020 was CNY 66,537,935.25, compared to a net loss of CNY 47,916,800.18 in the first half of 2019, indicating an increase in losses of approximately 38.9%[142]. - The comprehensive income for the current period shows a decrease of CNY 64.29 million, contributing to a total of CNY -2,239 million in comprehensive income[155]. Cash Flow - The net cash flow from operating activities was -¥180,966,447.82, showing an improvement of 74.38% compared to -¥706,390,852.94 in the same period last year[17]. - Cash flow from operating activities improved by 74.38%, resulting in a net cash outflow of CNY -180,966,447.82, a significant reduction from the previous year's outflow[39]. - Cash inflow from financing activities amounted to ¥623,000,000.00, with cash outflow of ¥136,401,897.89, resulting in a net cash flow of ¥486,598,102.11[149]. - The total cash and cash equivalents at the end of the period was ¥44,403,633.86, down from ¥218,424,973.57 at the end of the previous period[149]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,852,263,686.43, reflecting a 6.01% increase from ¥4,577,226,290.13 at the end of the previous year[17]. - The total liabilities reached CNY 2,674,051,451.59, up from CNY 2,023,479,501.54, reflecting a growth of approximately 32.2%[140]. - The company's cash and cash equivalents decreased to CNY 28,247,116.12 from CNY 159,387,834.00, a decline of about 82.3%[137]. - Inventory increased to CNY 529,316,892.34 from CNY 328,789,023.75, showing a rise of about 60.9%[138]. Business Strategy and Operations - The main business focus is on film production, with a strategic shift towards enhancing investment, production, marketing, and distribution capabilities in the film sector[23]. - The company is actively exploring the integration of tourism and film businesses to enhance brand and revenue generation[23]. - The company has established a robust management process to ensure project stability and quality, demonstrated by successful films like "Wolf Warrior II" and "The Wandering Earth"[26]. - The company is developing a big data platform for film production, marketing, and distribution to enhance decision-making and market analysis[30]. Risks and Challenges - The company faces risks including regulatory policy risks, intensified market competition, and rising production costs[4]. - The pandemic has led to a significant reduction in the company's operational capacity, impacting both revenue and cost structures across its business segments[38]. - Rising production costs due to high demand for quality content and increased prices for resources are a significant risk for the company[60]. - The impact of sudden public health events on project production and distribution may affect short-term performance but not the company's long-term profitability[60]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held three shareholder meetings during the reporting period, with investor participation rates of 30.93%, 31.45%, and 36.83% respectively[63][64][67]. - The company has not reported any new capital contributions or reductions during the current period[154]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[118]. Financial Reporting and Compliance - The half-year financial report has not been audited[67]. - The company follows the accounting standards set by the Ministry of Finance, ensuring that financial statements reflect the true financial condition and operating results[169]. - The financial statements are prepared based on the assumption of going concern, indicating the company's ability to continue operations for at least 12 months from the reporting date[167].