BJCT(SZ:000802)2023-06-16 16:00Financial Performance - The company's operating revenue for 2022 was ¥107,988,685.71, a decrease of 63.76% compared to ¥297,961,813.23 in 2021[23]. - The net profit attributable to shareholders was -¥61,304,847.42, an improvement of 54.04% from -¥133,396,557.44 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥78,443,776.44, a decrease of 41.64% compared to -¥134,408,528.28 in 2021[23]. - The net cash flow from operating activities was ¥13,512,538.27, down 93.39% from ¥204,388,866.39 in 2021[23]. - The basic and diluted earnings per share were both -¥0.0856, showing a 54.05% improvement from -¥0.1863 in 2021[23]. - The weighted average return on equity was -3.91%, an increase of 4.15% from -8.06% in the previous year[23]. - Total assets decreased by 8.10% to CNY 3,446,294,938.18 at the end of 2022 compared to CNY 3,749,997,325.77 at the end of 2021[24]. - The company achieved total revenue of 107.99 million yuan in 2022, a decrease of 63.76% year-on-year, primarily due to fewer films released during the reporting period[42]. - Revenue from films was ¥10,590,364.29, representing 9.81% of total revenue, down 94.60% from ¥196,056,562.70 in 2021[46]. - Revenue from TV series and web dramas was ¥97,260,481.56, accounting for 90.07% of total revenue, with a slight decrease of 1.66% from ¥98,905,246.63 in 2021[46]. Market and Industry Trends - The total box office revenue in China's film market for 2022 was CNY 30.067 billion, a decrease of 36.38% compared to 2021, with 325 films released, down 40.59% year-on-year[34]. - The company experienced a significant decline in audience attendance, with 712 million viewers in 2022, a drop of 39% compared to the previous year[34]. - The company anticipates a recovery in the domestic film market in 2023, driven by policy adjustments and strong audience demand[34]. - The company expects the domestic cultural tourism industry to accelerate recovery in 2023, with a continuous growth in transaction scale anticipated[36]. - The company has faced challenges in the entertainment industry, prompting a shift towards innovation and resource optimization to survive market pressures[36]. Business Strategy and Focus - The company has transitioned its main business focus from tourism to a full-chain cultural group encompassing film, television, and new media[22]. - The company is focusing resources on developing film and television series, adjusting its business structure to enhance investment, production, marketing, and distribution capabilities[37]. - The company plans to explore cultural tourism projects that integrate deeply with its film and television business, leveraging existing tourism site advantages[39]. - The company is developing the "Miyun Oriental Landscape International Film and Cultural Tourism Town" project to expand its cultural tourism business[39]. - The company aims to enhance its IP and script reserves to increase project diversity and resource richness[43]. Risk Management - The company faces risks including regulatory policy risks, intensified market competition, and rising production costs[5]. - Future plans and forecasts are subject to risks and do not constitute substantial commitments to investors[5]. - The company acknowledges risks such as regulatory policy changes, intensified market competition, and rising production costs, which could impact its operations and profitability[79]. - The company emphasizes the importance of content quality and aims to mitigate risks through strict project evaluations and market analysis[80]. - The company is focused on managing accounts receivable risks, particularly concerning overdue contracts and potential credit losses[81]. Governance and Compliance - The company held 2 shareholder meetings during the reporting period, ensuring the protection of minority shareholders' rights[84]. - The board of directors convened 5 meetings, with all members fulfilling their duties in accordance with legal and regulatory requirements[85]. - The supervisory board held 4 meetings, maintaining compliance with laws and regulations regarding the oversight of company operations[86]. - The company has no controlling shareholder, ensuring independence in business, personnel, assets, and financial matters[87]. - The company has established a transparent performance evaluation system for directors and senior management[86]. Shareholder and Ownership Structure - The largest shareholder, Fude Life Insurance, holds 111,649,909 shares, accounting for 15.60% of the total share capital[188]. - The second largest shareholder, Qingdao Haifa Holdings, owns 84,854,419 shares, representing 11.85% of the total share capital[188]. - The company has no controlling shareholder or actual controller, ensuring a diversified ownership structure[188]. - The top ten shareholders did not engage in any repurchase transactions during the reporting period[187]. - The total number of ordinary shares held by the top ten unrestricted shareholders is 384,000,000 shares[186]. Legal and Dispute Resolution - The company reported a total of 10,825,000 CNY involved in a contract dispute with Zheng Shuang, which was resolved with the plaintiff withdrawing the case[142]. - A contract dispute with Tianjin Orange Imaging Transmission Media Co., Ltd. involved 2,450,000 CNY, also resolved with the plaintiff withdrawing the case[142]. - The company is actively pursuing legal actions to recover amounts owed from various contract disputes, reflecting a focus on financial recovery and risk management[145]. - The company faced disciplinary actions due to violations of Shenzhen Stock Exchange rules, resulting in a public reprimand for Beijing Jingxi Culture Tourism Co., Ltd. and its former director Du Yang[146]. Employee and Management Structure - The total number of employees at the end of the reporting period was 53, including 45 at the parent company and 8 at major subsidiaries[118]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 5.3814 million yuan[101]. - The company emphasizes a salary policy that prioritizes efficiency while ensuring fairness, with a focus on key positions and senior management[119]. - The company has implemented a training plan based on employee responsibilities and personal interests, ensuring all employees have the right to receive relevant training[120]. Internal Control and Audit - The internal control evaluation report was fully disclosed on April 27, 2023, with 100% of the total assets of the evaluated units accounting for the total assets of the consolidated financial statements[125]. - The company has maintained effective internal control over financial reporting as of December 31, 2022, according to the internal control audit report[127]. - There were no significant defects in financial or non-financial reporting identified during the audit period[127]. - The audit committee emphasized the importance of addressing the previous year's audit report's qualified opinion and internal control report[110].