H&R(SZ:000892)2022-05-19 16:00Financial Performance - The company's operating revenue for 2021 was ¥387,819,385.11, representing a 109.71% increase compared to ¥184,935,603.34 in 2020[20]. - The net profit attributable to shareholders for 2021 was -¥333,682,036.56, an improvement of 57.48% from -¥784,855,283.01 in 2020[20]. - The net cash flow from operating activities for 2021 was -¥273,378,506.77, a significant decline of 198.87% compared to ¥276,500,167.82 in 2020[20]. - The total assets at the end of 2021 were ¥2,377,434,371.93, a decrease of 10.12% from ¥2,645,212,770.21 at the end of 2020[20]. - The company's basic earnings per share for 2021 was -¥0.34, improving by 57.50% from -¥0.80 in 2020[20]. - The weighted average return on equity for 2021 was -19.64%, an improvement of 15.07% from -34.71% in 2020[20]. - The company reported a negative operating income in the fourth quarter of 2021, with revenue of -¥72,603,420.29 due to project income reversals[25]. - The company received government subsidies amounting to ¥9,983,883.02 in 2021, down from ¥16,290,031.87 in 2020[27]. - The total operating revenue for the company in 2021 was approximately ¥387.82 million, representing a year-on-year increase of 109.71% compared to ¥184.94 million in 2020[52]. - Revenue from film and television and related products accounted for 69.04% of total revenue, amounting to approximately ¥267.74 million, which is a 205.21% increase from ¥87.72 million in the previous year[52]. - The artist management segment generated approximately ¥106.78 million, contributing 27.53% to total revenue, with a year-on-year growth of 9.84%[52]. - The company reported a negative distributable profit of -608,581,060.81 CNY for the year, leading to no cash dividend distribution[143]. Business Operations - The company’s main business has shifted to film and television production, artist agency, gaming, and other related businesses since December 2016[17]. - The company is focusing on content production and artist management, exploring new business directions in AI virtual artists, new media, e-commerce, and cultural tourism[34]. - The company is actively developing diverse content themes, including reality-based, youth spy warfare, and fantasy adventure genres[35]. - The company is committed to producing high-quality films and series that align with the mainstream values of the socialist era[35]. - The company has signed over 20 artists, including notable names such as Ren Jialun and Cheng Yi, indicating a strong talent pool[49]. - The company holds adaptation rights for over 40 scripts and novels, enhancing its intellectual property portfolio[50]. - The company has established a digital and platform-based governance system to enhance operational efficiency and transparency[41]. - The company has developed a comprehensive artist management service platform, reducing reliance on individual artists[49]. - The company is enhancing its strategic direction and risk control to improve the commercialization capabilities of its various businesses[34]. Governance and Management - The actual controller of the company changed to Zhao Zhicheng on August 17, 2021[18]. - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and management[4]. - The company emphasizes the importance of risk awareness regarding forward-looking statements made in the report[4]. - The company has established a robust governance structure, ensuring compliance with relevant laws and regulations[107]. - The board of directors held five meetings during the reporting period, approving 23 resolutions[108]. - The company has established a performance-based remuneration system for its executives, aligning compensation with company performance[125]. - The total remuneration for directors, supervisors, and senior management in 2021 amounted to CNY 10.74 million[127]. - The company has appointed two new deputy general managers, Zhao Huiqiang and Chen Yadong, on August 25, 2021[117]. - The company’s financial management team includes experienced professionals with backgrounds in finance and law, enhancing its governance structure[120]. Legal and Compliance Issues - The company faced administrative penalties from the China Securities Regulatory Commission, including a CNY 1 million fine for violations of the Securities Law[123]. - As of March 31, 2022, the company faced 427 new lawsuits with a total claim amount of 96.28 million yuan[102]. - The estimated liability for the lawsuits was assessed at 45.44 million yuan, with total provisions amounting to 46.48 million yuan[103]. - A total of 257 plaintiffs have filed lawsuits against the company for alleged false statements, with a total claim amount of 43.17 million yuan[101]. - The company is currently involved in 5 ongoing lawsuits regarding securities false statement liability, with a total claimed amount of 4,317,010 CNY, of which 252 cases have been settled[175]. - The company has confirmed estimated liabilities of 14.61 million yuan in 2020 and 11.87 million yuan in 2021 related to litigation[101]. - The company has not engaged in any investor communication activities during the reporting period[104]. - The company has not reported any significant changes in user data or customer metrics during the reporting period[158]. Market and Industry Trends - The long video platform industry is focusing on "narrowing losses" as a key target, with a shift from quantity to quality in content production[93]. - The television industry faces intense competition, with a "supply exceeds demand" situation leading to increased market rivalry[99]. - The company aims to enhance its governance and internal systems to align with modern enterprise development and strategic direction[95]. - The company plans to produce high-quality dramas that align with socialist values, with upcoming titles including "South Wind Knows My Intent" and "Ten Years One Product Warm as Words"[96]. Investment and Financial Management - The company has established new subsidiaries including 欢瑞星球 and 欢瑞科技, each with a registered capital of RMB 5 million and RMB 50 million respectively[91]. - The company has made commitments to avoid competition with its subsidiaries and maintain independence in operations and finances[159]. - The company has not engaged in any entrusted financial management or loans during the reporting period[193][194]. - The company has not provided guarantees for shareholders, actual controllers, or their related parties during the reporting period[192]. - The company has not reported any significant related party transactions during the reporting period[180]. - The company has not encountered any situations requiring compensation under the commitments made[163].