HBMC(SZ:300027)2021-04-27 16:00Financial Performance - The total operating revenue for the year 2020 was CNY 1,499.99 million, a decrease of 33.14% compared to the previous year[11]. - The net profit attributable to shareholders was CNY -1,048.06 million, an increase of 73.65% year-on-year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -1,018.41 million, an increase of 74.03% year-on-year[11]. - The company's operating revenue for 2020 was ¥1,499,998,801.86, a decrease of 33.14% compared to ¥2,243,545,641.88 in 2019[30]. - The net profit attributable to shareholders for 2020 was -¥1,048,059,957.34, representing an increase in losses of 73.65% from -¥3,977,691,690.71 in 2019[30]. - The net cash flow from operating activities for 2020 was ¥246,393,539.52, a significant increase of 172.69% compared to ¥90,355,855.97 in 2019[30]. - The total assets at the end of 2020 were ¥9,602,346,304.29, down 11.34% from ¥10,830,053,589.99 at the end of 2019[33]. - The net assets attributable to shareholders at the end of 2020 were ¥3,072,275,676.02, a decrease of 29.45% from ¥4,354,567,087.05 at the end of 2019[33]. - The basic earnings per share for 2020 was -¥0.38, improving from -¥1.42 in 2019, a 73.24% reduction in loss per share[30]. - The weighted average return on equity for 2020 was -27.37%, an improvement of 24.82 percentage points from -52.19% in 2019[30]. Impact of COVID-19 - The significant loss was primarily due to the impact of the COVID-19 pandemic on the film and tourism industries, with cinemas closed from January 24 to July 19, 2020[11]. - The overall impact of the COVID-19 pandemic significantly affected the film and tourism sectors, leading to temporary closures of cinemas nationwide[113]. - Future plans and performance forecasts are subject to risks, and investors should maintain adequate risk awareness[16]. Business Strategy and Operations - The company continued to promote the "film + real scene" new business model and optimized its asset structure during the reporting period[11]. - The company focused on improving profitability by gradually resuming operations while adhering to pandemic prevention measures[15]. - The company is gradually exiting low-integration investment projects to enhance its core competitiveness in the domestic market[15]. - The company aims to optimize resource allocation and enhance its core competitiveness in the domestic market amid international uncertainties[37]. - The company has established a dual-core business layout of film and real scene entertainment, enhancing its core competitiveness through resource optimization[48]. - The company is focused on cultural confidence and aims to promote Chinese culture globally through its strategic initiatives[57]. - The company is exploring new strategies for market expansion and collaboration within the entertainment industry[55]. Film and Content Production - The film "The Eight Hundred," released on August 21, 2020, achieved a cumulative box office of over 3.1 billion yuan[44]. - The film "The Battle at Lake Changjin," released on October 23, 2020, garnered a cumulative box office of over 1.1 billion yuan[44]. - The company has multiple films in post-production, including "Sunshine Robbers" and "Summer Future," with expected release dates in May and August 2021, respectively[46]. - The company has actively participated in the production of various web series and films, with several projects progressing steadily[46]. - The company aims to strengthen its content production capabilities and improve monetization through a focus on high-quality content[48]. - The company is collaborating on ultra-large films with Hollywood, which requires careful selection of themes and creative ideas[197]. Partnerships and Collaborations - The company has established stable partnerships with major industry players such as Alibaba, Tencent, and Fosun, enhancing its competitive edge[55]. - The company is collaborating with Hollywood directors, including the Russo brothers, to create global IP investments and productions[57]. - The company has formed partnerships with emerging film production companies and streaming platforms to strengthen its content production capabilities[55]. Revenue Segments - The film and entertainment segment achieved a revenue of CNY 1,309.47 million in 2020, a decrease of 38.87% compared to the previous year[120]. - The brand licensing and immersive entertainment segment generated revenue of 124.90 million yuan, up 260.16% year-on-year[127]. - The online entertainment segment reported revenue of 55.24 million yuan, an increase of 82.50% compared to the previous year[127]. Licenses and Compliance - The company holds major business operation licenses, including film distribution and broadcasting, with the latest licenses expiring in December 2022 and March 2023 respectively[84]. - The company has a total of 15 broadcasting and film production licenses, ensuring compliance with regulatory requirements for various media productions[84]. - The company is actively managing its licenses to ensure compliance and operational continuity across its cinema locations[63][75]. Future Outlook - The company aims to achieve a revenue growth target of 20% for the fiscal year 2021, driven by new releases and market expansion[89]. - The company is positioned for future growth with ongoing projects and a robust pipeline of film and television productions[81]. - The company has outlined a revenue guidance of 1.8 billion RMB for the next fiscal year, indicating a growth target of 20%[95].