盛天网络(300494) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was ¥1,220,829,809.13, representing a 36.27% increase compared to ¥895,876,744.19 in 2020[25]. - Net profit attributable to shareholders for 2021 reached ¥125,113,074.77, a significant increase of 106.90% from ¥60,470,995.84 in 2020[25]. - The net profit after deducting non-recurring gains and losses was ¥121,381,062.51, up 160.59% from ¥46,580,102.21 in 2020[25]. - The net cash flow from operating activities for 2021 was ¥218,474,798.81, an increase of 97.52% compared to ¥110,608,864.85 in 2020[25]. - The total assets at the end of 2021 were ¥1,902,772,320.17, reflecting a 24.00% increase from ¥1,534,469,310.16 at the end of 2020[25]. - The net assets attributable to shareholders increased by 21.44% to ¥1,304,248,156.79 at the end of 2021 from ¥1,073,965,102.48 at the end of 2020[25]. - The company reported a basic earnings per share of ¥0.52 for 2021, which is an increase of 108.00% from ¥0.25 in 2020[25]. - The weighted average return on equity for 2021 was 14.54%, up from 5.76% in 2020[25]. - The total revenue for 2021 reached ¥1,220,829,809.13, representing a 36.27% increase compared to ¥895,876,744.19 in 2020[112]. - Internet gaming revenue accounted for ¥684,632,033.08, which is 56.08% of total revenue, showing a 44.39% year-over-year growth from ¥474,160,004.29[112]. - The revenue from internet marketing was ¥527,157,558.18, making up 43.18% of total revenue, with a year-over-year increase of 29.99% from ¥405,544,416.95[112]. Shareholder Returns - The company repurchased 3,385,700 shares using its own funds, totaling approximately ¥49.99 million, which is considered a cash dividend under the repurchase rules[7]. - The company plans not to distribute cash dividends or issue bonus shares for the year[8]. Risks and Challenges - The company emphasizes risks related to industry policy changes, game license applications, and intensified competition in the gaming sector[8]. - The company’s future plans and strategic developments are not guaranteed commitments to investors[8]. - The company faced risks related to industry policy changes and game license application processes, which could impact operations and compliance[180][181]. - The company faces risks due to the slow issuance of game licenses, which could negatively impact revenue growth if the approval process remains sluggish[183]. - The cloud gaming platform construction is facing supply chain risks due to the pandemic and trade environment, which may lead to equipment shortages or price fluctuations[185]. - The company has diversified its revenue sources, but continued delays in game license approvals could adversely affect overall income growth[183]. Strategic Developments - The company has no plans for significant new product launches or technological developments mentioned in the report[8]. - The company plans to launch several major products in 2022, including "Forbidden Technique Walker," "TP," "Dream Island Encounter," "Wings of the Stars," and "Four Symbols Story"[70]. - The company is preparing to launch several major products in 2022, including a 3D real-time card mobile game tentatively named "Forbidden Technique Walker"[109]. - The company aims to consolidate and expand its IP operation business, actively promoting the domestic and international release of "Age of Exploration: Sea Overlord" and advancing the IP operation of "Dynasty Warriors 8"[177]. - The company will actively layout premium game distribution and overseas game agency distribution, leveraging its channel and promotion advantages[178]. - The company intends to enhance its game service offerings by developing a game social platform, esports event platform, and game e-commerce platform to meet diverse user needs[179]. - The company is exploring new business models, including the integration of the metaverse and cross-industry IP cooperation, and promoting VR/AR hardware and content in VR experience venues[180]. User Engagement and Market Trends - The gaming industry in China saw a total market revenue of ¥296.51 billion in 2021, with a year-on-year growth of 6.40%[34]. - In 2021, China's cloud gaming market revenue reached RMB 4.06 billion, a year-on-year increase of 93.3%[53]. - By 2025, the cloud gaming market revenue in China is expected to reach RMB 34.28 billion, with a compound annual growth rate of 74.8% from 2020 to 2025[53]. - The number of monthly active users in China's cloud gaming sector reached 62.2 million in 2021, growing by 64.1% year-on-year, and is projected to reach approximately 250 million by 2025[53]. - The company has a strong user base with significant contributions from its gaming platforms, which have accumulated a large number of users over the years, particularly in the gaming sector[106]. Research and Development - The company holds 13 invention patents and 149 software copyrights, reflecting its commitment to technology research and development[95]. - Research and development expenses increased by 9.61% to ¥60,387,553.36 compared to the previous year[142]. - The total R&D investment amounted to ¥72,651,703.85, representing 5.95% of operating revenue[149]. - The capitalized R&D expenses were ¥12,264,150.49, accounting for 16.88% of total R&D investment[149]. - The company completed the development of a new cloud gaming service platform, including WEB, Android, and PC versions, and initiated commercial trial operations[146]. - A multi-user real-time voice and text interaction platform was developed, enhancing gaming social systems and enabling voice chat services[146]. Marketing and Partnerships - The company collaborates with major game developers and publishers for joint operations and game distribution, ensuring a diverse portfolio of offerings[87]. - The company has established a strong partnership with renowned game enterprises to secure high-quality game IPs for adaptation and operation[90]. - The company’s marketing services include digital advertising, content planning, and esports event production, catering to various client needs[86]. - The company has established strong relationships with a diverse range of advertising clients across various sectors, including gaming, e-commerce, finance, and social apps[101]. Operational Changes - The company exited the micro-lending business in July 2021, focusing on its core gaming and digital entertainment services[89]. - The company terminated its micro-lending business, resulting in an 18.48% decrease in other business revenue due to the cessation of operations[115]. - The company has no related party transactions with its top five customers and suppliers, ensuring independent operations[139][141]. Cash Flow and Investments - The net cash flow from operating activities increased by 97.52% year-on-year, primarily due to increased sales revenue and improved accounts receivable turnover[152]. - The net cash flow from investment activities increased by 145.36% year-on-year, mainly due to net redemptions of bank wealth management products[153]. - Cash inflow from financing activities rose by 896.86% year-on-year, primarily due to cash received from issuing shares[153]. - The net increase in cash and cash equivalents surged by 839.48% year-on-year, largely attributed to cash received from share issuance[153]. - Monetary funds at the end of 2021 amounted to 1,017,353,355.43 yuan, representing 53.47% of total assets, an increase of 14.69% from the beginning of the year[159]. - The total amount of funds raised in 2021 was 47,608.78 million yuan, with 2,476.91 million yuan utilized during the reporting period[166]. - The company reported an investment income of 825,471.37 yuan, accounting for 0.59% of total profit, primarily from the disposal of wealth management products and dividend income from equity investments[154]. Governance and Compliance - The company reported a significant increase in profits from IP operations and online advertising, driven by higher revenue and gross profit margins[133]. - The company has established a governance structure to ensure transparency and fairness in operations, adhering to relevant laws and regulations[194].