掌趣科技(300315) - 2019 Q4 - 年度财报

Financial Performance - The company reported a total revenue of RMB 2,729,621,349 for the year 2019, with a cash dividend of RMB 0 per 10 shares[6]. - The company's operating revenue for 2019 was ¥1,616,948,596.92, a decrease of 17.93% compared to ¥1,970,323,556.32 in 2018[31]. - The net profit attributable to shareholders for 2019 was ¥363,599,877.51, a significant recovery from a loss of ¥3,149,933,630.14 in 2018[31]. - The net profit after deducting non-recurring gains and losses was ¥409,656,838.85 in 2019, compared to a loss of ¥3,146,995,802.41 in 2018[31]. - The net cash flow from operating activities decreased by 39.13% to ¥514,875,431.14 from ¥845,902,517.48 in 2018[31]. - The total assets at the end of 2019 were ¥5,987,155,353.93, an increase of 2.22% from ¥5,857,256,178.33 at the end of 2018[31]. - The net assets attributable to shareholders increased by 8.18% to ¥5,548,222,624.83 at the end of 2019 from ¥5,128,642,362.40 at the end of 2018[31]. - The company reported a total cash dividend of 105.66 million yuan, which accounted for 100% of the total profit distribution amount[116]. - The company reported a negative distributable profit for 2019, resulting in no cash dividends or stock dividends being proposed[118]. Market and Competition - The company acknowledges intensified market competition, highlighting the need for timely responses to market changes and continuous investment in new game and technology development[11]. - The company focuses on the development and operation of mobile games, emphasizing a strategy of "refinement, internationalization, and collaboration with major IPs" to enhance its core competitiveness[43]. - The company has established a diversified product matrix and a sustainable delivery capability for high-quality games, responding rapidly to market demands[45]. - The user base growth in the gaming market has slowed, with only a 2.5% year-on-year increase in users in 2019[106]. Regulatory Compliance and Risks - The company emphasizes the importance of adhering to regulatory requirements in the gaming industry, which may impact business operations due to increasing regulatory scrutiny[10]. - The company is committed to monitoring legal and regulatory changes to ensure compliance and mitigate operational risks[10]. - The company faces risks related to new game development and operations, stressing the importance of launching successful games to offset declining revenues from older titles[12]. - The company has committed to reducing and regulating related party transactions, ensuring fairness and compliance with legal procedures[123]. Research and Development - The company is focused on talent retention and development to maintain a competitive edge, implementing a comprehensive incentive system for employees[16]. - Research and development expenses amounted to ¥397,742,370.68, which is 24.60% of the operating revenue[78]. - The number of R&D personnel increased to 992, making up 70.16% of the total workforce[78]. - The company has invested 200 million yuan in research and development for new technologies, focusing on AI and gaming[143]. Share Repurchase and Capital Management - The company implemented a share repurchase plan using its own funds, which was completed by February 26, 2020, to support employee stock ownership plans[54]. - The company approved a share repurchase plan with a total amount not less than RMB 100 million and not exceeding RMB 200 million, with a maximum repurchase price of RMB 5.27 per share[178]. - As of December 31, 2019, the company repurchased a total of 27,862,843 shares, accounting for 1.0104% of the total share capital, with a total transaction amount of RMB 105,664,570.85 (excluding transaction fees)[178]. - The impact of the share repurchase on the company's earnings per share for 2019 was an increase of 0.0013 CNY per share, and the impact on the net asset value per share was an increase of 0.0025 CNY per share[187]. Future Plans and Product Development - The company plans to launch multiple new products in 2020, including titles such as "True Red Blade" and "Street Fighter: Showdown" among others[107]. - The company plans to actively promote the implementation of its incentive plan following the completion of the share repurchase[54]. - The company has set a performance guidance of 1.8 billion yuan in revenue for 2020, reflecting a growth target of 20%[143]. - The company is actively developing multiple new products to enhance its future product portfolio[77]. Subsidiaries and Investments - The company established several new subsidiaries during the reporting period, including Beijing Qianhui Technology Co., Ltd.[71]. - The total assets of Beijing Tianma Space Network Technology Co., Ltd. reached approximately 725.42 million yuan, with a net profit of approximately 100.13 million yuan, contributing significantly to the company's overall performance[103]. - The company’s subsidiary, Webzen Inc., reported total assets of approximately 2.50 trillion Korean won, with a net profit of approximately 256.33 million Korean won[103]. - The company has completed the acquisition of two smaller gaming studios for a total of 300 million yuan, enhancing its product portfolio[143].