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天威视讯(002238) - 2019 Q4 - 年度财报
TOPWAYTOPWAY(SZ:002238)2020-04-09 16:00

Financial Performance - The company plans to achieve operating revenue of CNY 1,600 million in 2020, a decrease of CNY 98.61 million or 5.81% compared to CNY 1,698.61 million in 2019[5]. - The total profit is expected to be CNY 163.2 million in 2020, down CNY 22.67 million or 12.20% from CNY 185.87 million in 2019[5]. - The net profit attributable to the parent company is projected to be CNY 162.7 million in 2020, a decrease of CNY 25.67 million or 13.63% from CNY 188.37 million in 2019[5]. - The company's operating revenue for 2019 was CNY 1,698,613,796.85, representing an increase of 8.86% compared to CNY 1,560,405,514.50 in 2018[31]. - The net profit attributable to shareholders of the listed company for 2019 was CNY 188,372,043.78, a decrease of 4.49% from CNY 197,223,366.34 in 2018[31]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 132,363,567.77, down 11.82% from CNY 150,111,843.89 in 2018[31]. - The company achieved a net profit attributable to shareholders of CNY 188.37 million, a decrease of 4.49% year-on-year[56]. - The company reported a net profit attributable to shareholders of 162.70 million RMB in 2020, down 13.63% from 2019's profit of 188.37 million RMB[122]. User Base and Market Position - The company experienced a loss of 158,200 cable TV users in 2019, representing an 8.18% decline in user base[8]. - The number of interactive on-demand users reached 567,293, representing a growth of 7.4% compared to the end of 2018[57]. - The number of cable broadband paying users increased to 587,300, up by 3.68% from the end of 2018[57]. - The company has over 3 million network coverage users, with a high access and reach rate, providing a solid foundation for business operations[51]. - The digital television service market share remains the highest in Shenzhen, while broadband access services are also among the market leaders[47]. Strategic Initiatives and Goals - The company aims to achieve a minimum of 36% optical network coverage in standard communities by the end of 2020, with a goal of full coverage within three years[9]. - The company plans to complete the splitting of over 220 optical nodes in standard communities by the end of 2020[9]. - The company is actively expanding its 5G network, aiming to cover over 95% of the population by 2021 through a comprehensive rollout in major cities[46]. - The company is focusing on expanding its broadband services and interactive media offerings, aiming to enhance its market presence[112]. - The company plans to explore strategic partnerships and potential acquisitions to bolster its service capabilities and market reach[112]. Content and Technology Development - The company introduced over 120,000 hours of content in 2019, including more than 2,000 hours of 4K content, enhancing its content diversity[51]. - The integration of 4K/8K and VR technologies is expected to provide new opportunities for digital television development[46]. - The company is a national high-tech enterprise, leading in technology development and application, and was one of the first to launch 4K smart set-top boxes[51]. - The company is actively developing new products and technologies, including a 5G network pilot project and a full media integration platform[75]. Financial Management and Investments - The company will distribute a cash dividend of CNY 1 per 10 shares (including tax) to all shareholders, with no bonus shares issued[13]. - The total distributable profit for 2019 is reported to be 889,726,857.41 yuan, with the cash dividend constituting 100% of the profit distribution[136]. - The company has not made any adjustments or changes to its cash dividend policy in the past three years[133]. - The company made a significant equity investment of ¥22,500,000.00 in a joint venture, acquiring a 45% stake[89]. - The company reported a total of ¥713,743,400.00 in financial assets, with a fair value change of ¥593,300.00 during the reporting period[97]. Related Party Transactions and Governance - Shenzhen Broadcasting Group committed to avoiding competition with the listed company and its subsidiaries, ensuring no direct or indirect competitive relationships during the asset restructuring process[140]. - The listed company will maintain independent financial management, with its financial personnel not holding positions in other companies controlled by Shenzhen Broadcasting Group[143]. - The company has established internal control systems for managing undisclosed information to prevent misuse[155]. - The company will disclose any governance irregularities in its annual report, ensuring accountability and transparency[155]. Operational Challenges and Market Conditions - The television shopping industry faces significant challenges due to the rapid growth of e-commerce and changing consumer habits, necessitating urgent transformation[47]. - Tianwei Company faced a net loss of 1.27 million RMB in its advertising subsidiary in 2019[117]. - The company has maintained advanced operational capabilities and service quality, adapting its strategies in response to market competition[51].