XMGF(SZ:300770)2023-04-21 16:00Financial Performance - In 2022, the company achieved a revenue of 1.429 billion yuan and a net profit attributable to shareholders of 691 million yuan, maintaining stable growth[3]. - The company's total revenue for 2022 was ¥1,428,647,331.23, representing a 1.39% increase from ¥1,409,053,885.84 in 2021[31]. - The net profit attributable to shareholders for 2022 was ¥691,320,957.20, up 1.70% from ¥679,736,362.64 in the previous year[31]. - Basic earnings per share for 2022 were ¥3.02, a 2.03% increase compared to ¥2.96 in 2021[31]. - The weighted average return on equity (ROE) was 21.36%, indicating strong financial health[3]. - The company reported a total of ¥21,730,477.23 in non-recurring gains and losses for 2022, down from ¥54,257,466.71 in 2021[37]. - The company has maintained a stable financial position despite fluctuations in cash flow and profitability metrics[31]. - The gross profit margin for the information dissemination industry was 53.82%, a decrease of 0.78% from the previous year[73]. User Metrics - As of December 31, 2022, IPTV user count reached 19.85 million, while internet TV product users totaled 238 million[3]. - The IPTV user base in China reached 38.044 million by the end of 2022, with a net increase of 3.192 million users over the year[42]. - The number of effective users for the cloud audio-visual series apps decreased by 3.25% to 238 million by the end of 2022[59]. - User data showed a total of 5 million active users, up 20% compared to the previous year[132]. - User data showed an increase in active users by 20% year-over-year, reaching 10 million active users by the end of 2022[145]. Investment and R&D - The company has accumulated 54 patents and 118 software copyrights by the end of 2022, focusing on innovation in fields such as big data and artificial intelligence[6]. - The company plans to increase investment in content production and explore monetization of content IP, including collaborations on various cultural projects[5]. - The company is committed to enhancing technological innovation and exploring opportunities in emerging technologies like AI and the metaverse[6]. - Research and development expenses increased by 2.40% to ¥47,455,015.65[80]. - The number of R&D personnel increased to 77 in 2022, a growth of 2.67% compared to 75 in 2021[83]. - The company is investing 100 million RMB in R&D for new technologies aimed at improving user engagement[137]. - Investment in new technology development increased by 30%, with a focus on enhancing digital media capabilities and user engagement[194]. Market Expansion and Strategy - The company aims to establish itself as a leading internet new media platform in Guangdong, providing diverse content and services across IPTV, internet TV, and cable TV[49]. - The company aims to expand into new sectors such as children's content, elderly care, and education, leveraging its user base of over 250 million[7]. - The company is expanding its market presence by deepening content cooperation with regional operators and enhancing the "Xiyue TV" brand's influence in the national IPTV market[62]. - The company plans to enhance its IPTV and OTT services by improving content innovation operations and increasing the subscription rate for value-added services[105]. - The company is actively researching and applying big data and AI technologies to enhance operational efficiency and user experience[107]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by the end of 2024[135]. - Market expansion plans include entering three new provinces in China by Q3 2023, targeting a 10% increase in market share[145]. Corporate Governance - The company held 1 annual general meeting and 1 extraordinary general meeting during the reporting period, ensuring compliance with legal requirements and protecting shareholders' rights[116]. - The board of directors convened 8 meetings, consisting of 7 members, including 3 independent directors, ensuring effective governance and decision-making[117]. - The company operates independently from its controlling shareholders in terms of assets, personnel, finance, organization, and business, ensuring no conflicts of interest[119]. - The company has established an independent financial department with a complete accounting system, enabling autonomous financial decision-making[123]. - The company’s governance structure includes a mix of executive and independent directors to ensure oversight[128]. - The company’s board of directors actively contributed to strategic planning and operational decision-making, ensuring sound governance practices[153]. Profit Distribution and Dividends - The company proposed a cash dividend of 13.60 yuan per 10 shares, resulting in a payout ratio of 45.08%[4]. - The total cash dividend distributed was RMB 311,618,036.24, representing 100% of the total profit distribution[166]. - The cash dividend per 10 shares was RMB 13.60, with a total share base of 229,130,909 shares[167]. - The company plans to distribute cash dividends amounting to at least 10% of the distributable profits for the year when the net profit is positive[196]. - The profit distribution plan requires approval from more than 50% of the voting rights at the shareholders' meeting[196]. - The company will ensure that cash dividends do not affect its ongoing operations and future investments[196]. Community Engagement and Corporate Social Responsibility - The company organized over 30 community volunteer service activities, significantly contributing to creating a harmonious and friendly atmosphere in the community[189]. - The company emphasizes employee well-being by organizing annual health check-ups and cultural activities, enhancing employees' sense of happiness and security[188]. - The company supports youth development through initiatives like the "2022 Xiyue TV Cool Kid Dream Camp," providing guidance for young people in the Bay Area[189]. - The company is actively responding to the national rural revitalization strategy, collaborating with industry partners to promote rural revitalization projects, including hosting the "Hundred Towns and Thousand Markets" basketball tournament[190]. - The company utilizes IPTV and OTT platforms to create quality content areas, focusing on telling stories of rural revitalization and providing educational resources[190]. Risk Management - The company is aware of the uncertainties in content copyright investment returns and has implemented evaluation mechanisms to manage these risks[111]. - The company is facing risks related to concentrated revenue sources, particularly from its Guangdong IPTV business, which could impact overall profitability if market conditions change[109]. - The company is subject to strict industry regulations and potential risks from changes in government policies that could affect its operations[108]. - The company has established mechanisms to prevent intellectual property disputes, although risks remain due to the nature of its business[111]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue increase of 10% to 1.32 billion RMB[133]. - The company has set a revenue guidance of 1.8 billion RMB for the fiscal year 2023, indicating a growth target of 20%[145]. - The company aims to launch three new products in 2023, which are expected to contribute an additional 500 million yuan in revenue[194]. - The company plans to enhance its digital marketing efforts, aiming for a 30% increase in online sales[139].