COSHIP(SZ:002052)2022-04-19 16:00Financial Performance - The company reported a significant decline in revenue, with a total of RMB 1.5 billion for the year 2021, representing a decrease of 15% compared to 2020[16]. - The average revenue per user (ARPU) decreased by 10% year-on-year, indicating challenges in user monetization strategies[16]. - The company's operating revenue for 2021 was ¥139,244,438.79, a decrease of 51.73% compared to ¥288,468,801.88 in 2020[21]. - The net profit attributable to shareholders in 2021 was -¥185,721,184.21, representing a 20.79% increase in losses from -¥153,758,969.37 in 2020[21]. - The net cash flow from operating activities was -¥34,864,695.86 in 2021, a significant decline of 405.02% compared to -¥6,903,617.19 in 2020[22]. - The basic earnings per share for 2021 was -¥0.2490, down 20.82% from -¥0.2061 in 2020[22]. - Total assets at the end of 2021 were ¥485,736,516.25, a decrease of 29.95% from ¥693,385,543.02 at the end of 2020[22]. - The net assets attributable to shareholders decreased by 82.45% to ¥40,560,033.37 in 2021 from ¥231,107,987.15 in 2020[22]. - The company reported a weighted average return on equity of -134.91% in 2021, a decline of 84.42% from -50.49% in 2020[22]. - The revenue after deducting non-recurring income was ¥99,247,248.00 in 2021, compared to ¥250,479,646.87 in 2020[23]. Investment and Development - The company plans to invest RMB 200 million in research and development for new technologies and products in 2022, focusing on cloud computing and IoT solutions[16]. - The company aims to launch a new product line in the second half of 2022, targeting a revenue contribution of RMB 300 million within the first year[16]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of up to RMB 500 million allocated for this purpose[16]. - The company is actively involved in the research and development of new technologies and products related to "three-network integration," enhancing its competitive edge in the digital video industry[41]. - The company is focusing on market expansion strategies, including potential mergers and acquisitions to enhance its competitive position in the industry[121]. - New product development and technological advancements are a priority for the company, aiming to innovate and meet market demands[121]. Market Expansion - Market expansion efforts include entering three new provinces in China, aiming for a 20% increase in market share by the end of 2022[16]. - The company has established a strong presence in over 30 provinces in China and has significant export activities to regions including India, Southeast Asia, and the Middle East[33]. - The company has completed a strategic acquisition of a local tech startup for 300 million RMB to enhance its product offerings[118]. - The company plans to enhance investment in smart home and IoT sectors, focusing on end-to-end solutions and advanced product development[83]. - The company is actively pursuing partnerships to enhance its supply chain capabilities, which is expected to improve operational efficiency[121]. Risks and Challenges - The company faces risks related to macroeconomic conditions, with a projected industry downturn impacting revenue forecasts for 2022[5]. - The company anticipates risks from market fluctuations, particularly due to reliance on broadcasting operators, which may impact business growth[85]. - There is a potential risk of key technical personnel turnover, which could affect the company's sustainable development and core competitiveness[86]. - The company faces exchange rate risks due to its significant export activities and reliance on imported components for production[86]. - The company may encounter investor litigation risks following administrative penalties imposed by the China Securities Regulatory Commission[87]. Governance and Compliance - The company has established a supervision and accountability mechanism for the "occupation and freezing" of shares held by major shareholders, ensuring the rights of investors, especially minority shareholders[92]. - The board of directors consists of 4 independent directors, including 3 accounting professionals and 1 legal professional, complying with legal requirements[92]. - The company has maintained an independent and complete business system, ensuring stable operations and compliance with regulations during the reporting period[97]. - The company strictly adheres to information disclosure obligations, ensuring timely and accurate information is provided to all shareholders[95]. - The company has established a complete internal control system to improve operational standards and governance practices[91]. Employee and Management Structure - The total number of employees at the end of the reporting period was 361, with 132 in the parent company and 229 in major subsidiaries[139]. - The employee composition includes 142 production personnel, 31 sales personnel, 104 technical personnel, 17 financial personnel, and 67 administrative personnel[140]. - The company has a total of 376 employees receiving compensation during the reporting period[139]. - The company has a diverse management team with backgrounds in finance, engineering, and academia, enhancing its strategic capabilities[106]. - The company has experienced turnover in its supervisory board, with three new supervisors appointed on April 22, 2021[104]. Financial Management and Remuneration - The total remuneration paid to directors, supervisors, and senior management in 2021 amounted to 7.4307 million yuan[124]. - The highest remuneration was received by the Chairman, Liu Yongteng, totaling 1.0326 million yuan[125]. - The decision-making process for remuneration involves approval from the Board of Directors and the Shareholders' Meeting[123]. - The remuneration proposals for 2021 were approved in the meetings held on April 22, 2021, and May 21, 2021[123]. Legal and Regulatory Issues - The company received an administrative penalty from the China Securities Regulatory Commission, with fines totaling 15 million yuan for one individual and 5 million yuan for two others, along with several warnings and smaller fines for additional individuals[122]. - The company is involved in a lawsuit with Shenzhen Tongzhou Investment Holdings Co., Ltd. regarding a share transfer agreement, with a disputed amount of 81.7688 million yuan[181]. - The company received a public reprimand from the Shenzhen Stock Exchange for violations of listing rules, with fines totaling 30,000 yuan[186]. - The company corrected accounting errors for the years 2014 to 2019, ensuring financial statements reflect a more accurate financial position[187].