AVIT(SZ:300264)2023-04-26 16:00Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2022, representing a year-over-year increase of 15%[16]. - The average revenue per user (ARPU) increased by 10% to RMB 150, indicating improved user monetization strategies[23]. - The company aims for a net profit margin of 12% in the upcoming fiscal year, up from 10% in 2022[16]. - User base growth reached 1.5 million new subscribers, a 30% increase compared to the previous year[16]. - The company reported a significant reduction in operational costs by 8% through efficiency improvements[16]. - Future guidance indicates a revenue target of RMB 1.5 billion for 2023, reflecting a growth rate of 25%[16]. - The company's operating revenue for 2022 was ¥146,849,878.16, representing a 7.76% increase compared to ¥136,280,387.80 in 2021[31]. - The net profit attributable to shareholders was -¥77,086,888.98, an improvement of 26.88% from -¥105,421,383.99 in the previous year[31]. - The basic earnings per share for 2022 was -¥0.1866, which is a 26.88% improvement from -¥0.2552 in 2021[31]. - The company's total revenue for the year was CNY 146,849,878, with a gross profit margin of 24.06%[82]. Market Position and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2025[16]. - The company is committed to increasing R&D investment to enhance service capabilities and quality, aiming to improve market share amid competitive pressures[4]. - The company is actively integrating resources to transition from a single market to the 5G new content field, emphasizing the development of large video content and integrated communications[46]. - The company aims to achieve continuous revenue growth by investing in incremental markets and maintaining communication with industry partners[45]. - The company is positioned to benefit from the government's push for the integration of broadcasting networks and the development of 5G applications[45]. - The company is focusing on market expansion through collaboration with major telecommunications operators and industry partners[46]. - The company is exploring partnerships with content providers to enhance VR content offerings, as the industry is still in its early stages with low concentration[53]. Research and Development - The company has allocated RMB 200 million for R&D in new technologies, focusing on AI and VR applications[16]. - The company has invested an average of 19.64% of its sales revenue in R&D over the past three years, focusing on audio and video application technologies[68]. - The company has a dedicated and independent R&D team, focusing on VR community and game development, as well as IPTV gaming business[120]. - The company has launched the "JiaChuang LOOPS CAM" VR camera, the world's first 180-degree/8K@60fps VR camera with in-camera stitching, enhancing VR live streaming capabilities[63]. - The company has established a VR interactive live streaming platform that integrates various software and hardware resources, significantly reducing the complexity of 8K VR video production[63]. Risks and Challenges - The traditional software and information technology business market is primarily focused on expansion and updates, with limited new demand, impacting the company's software and information service business[4]. - The company is subject to regulatory risks, particularly concerning policies that may affect the IPTV industry, which could lead to increased competition or operational challenges[11]. - The company faces risks related to intellectual property protection and potential reverse engineering[8]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as reflected in the audit report[31]. - The IPTV market is experiencing intensified competition due to advancements in telecommunications and the rise of alternative viewing platforms, which may reduce the company's market share if it fails to adapt[7]. Corporate Governance and Management - The company has established a comprehensive governance structure, ensuring compliance with relevant laws and regulations, and maintaining operational independence from its controlling shareholder[126][130]. - The company emphasizes the importance of investor relations management, ensuring transparent communication and equal access to information for all shareholders[129]. - The company has a structured remuneration decision process based on profitability and individual performance, ensuring alignment with shareholder interests[145]. - The board consists of seven members, including three independent directors, with a diverse professional background in technology and management[138]. - The company has maintained compliance with relevant laws and regulations throughout the reporting period[152]. Product Development and Innovation - The company develops 3-4 new television game products monthly, but faces risks of product development and operation failure if market changes are not timely understood[9]. - The company has launched four strategic products during the 2022 World VR Industry Conference, including LOOPS CAM and MotionMax, aimed at enhancing the VR content ecosystem[72]. - The company's gaming division has transitioned to VR gaming, with a focus on developing metaverse virtual communities and VR social applications[62]. - The company has established partnerships with multiple VR content and digital IP suppliers to enhance its content production capabilities[62]. - The company is actively developing VR game products to strengthen its competitive edge and create new profit growth points[98]. Financial Health and Investments - The company has a total order backlog of CNY 280.55 million as of the end of the reporting period, indicating a robust pipeline for future revenue[75]. - The company's cash inflow from operating activities rose by 70.23% to ¥189,229,863.14, while cash outflow increased by 58.04% to ¥219,453,074.85[103]. - The total cash and cash equivalents increased by 378.53% to ¥14,344,874.49, compared to a decrease of ¥5,150,194.27 in the previous year[103]. - The company has included 8 subsidiaries in its consolidated financial statements as of December 31, 2022[90]. - The company has established a new subsidiary, Shenzhen Fantasy Line Technology Co., Ltd., during the reporting period[118]. Employee and Workforce Management - The total number of employees at the end of the reporting period was 263, with 178 in the parent company and 85 in major subsidiaries[159]. - The employee composition includes 110 technical staff, 107 sales personnel, and 11 financial staff, among others[159]. - The company has implemented a comprehensive training system to enhance employee skills and meet development needs[162]. - The company has established a performance evaluation system to ensure fair salary determination based on job value assessments[161]. - The company has a strong customer base, with over 100 million users covered by its products and services, including major telecom operators and internet content platforms[70].