Financial Performance - Revenue decreased from RMB 3,323.4 million in 2021 to RMB 2,319.5 million in 2022, representing a decline of 30.2%[2] - Gross profit fell from RMB 1,842.2 million in 2021 to RMB 1,020.0 million in 2022, a decrease of 44.6%[2] - Net profit for the year was RMB 104.8 million in 2022, down 71.6% from RMB 368.5 million in 2021[3] - Adjusted EBITDA decreased from RMB 742.7 million in 2021 to RMB 320.1 million in 2022, a decline of 56.9%[3] - Operating profit decreased significantly from RMB 538.3 million in 2021 to RMB 162.1 million in 2022, reflecting a decline of approximately 69.9%[41] - Adjusted net profit for 2022 was RMB 232.7 million, down from RMB 540.0 million in 2021[30] - Basic earnings per share for the year were RMB 0.09, down from RMB 0.32 in 2021, representing a decline of approximately 71.9%[41] - The company reported a net profit attributable to owners of RMB 105,190,000 for 2022, a significant drop of 71.5% from RMB 368,502,000 in 2021[61] Market and Industry Insights - The total box office in mainland China for 2022 was RMB 30.067 billion, a 36.38% decrease from RMB 47.258 billion in 2021[4] - The company maintained a market coverage rate of over 50% for domestic films, with participation in the top ten domestic films remaining stable compared to 2021[5] - The "Cloud Package" service saw a 50% increase in orders in 2022, successfully covering 100% of domestic films with box office earnings exceeding RMB 100 million[5] - The film "This Killer Is Not So Calm" achieved a total box office of RMB 2.63 billion, becoming the second highest-grossing comedy in mainland China for 2022[6] - The total box office for the 2023 Spring Festival reached 6.758 billion yuan, making it the second highest in Chinese history for the Spring Festival, with a record-breaking speed of surpassing 10 billion yuan in annual box office by January 31, 2023[12] - The company is optimistic about the recovery and development of the entertainment market in 2023, supported by the resilience and vitality of the Chinese entertainment market[12] Revenue Breakdown - Revenue from entertainment content services decreased by 17.9% to RMB 1,113.5 million in 2022, down from RMB 1,356.5 million in 2021[17] - Online entertainment ticketing services revenue dropped by 37.7% to RMB 1,067.7 million in 2022, compared to RMB 1,713.7 million in 2021, reflecting a significant decline in the Chinese film market[17] - Advertising services and other revenue decreased by 45.4% to RMB 138.3 million in 2022 from RMB 253.2 million in 2021, mainly due to reduced advertising income caused by the pandemic[18] Cost and Expense Management - Operating expenses for the year were RMB 2,079,563,000 in 2022, down 17.2% from RMB 2,513,899,000 in 2021[54] - Sales and marketing expenses decreased by 28.6% from RMB 672.5 million in 2021 to RMB 480.1 million in 2022, primarily due to reduced marketing costs amid the pandemic[22] - General and administrative expenses fell by 16.7% from RMB 360.2 million in 2021 to RMB 300.0 million in 2022, mainly due to a reduction in employee costs[23] - Content production costs for 2022 were RMB 337.7 million, accounting for 26.0% of total costs, compared to RMB 258.7 million and 17.5% in 2021[21] Assets and Liabilities - Total assets decreased from RMB 11,028.3 million as of December 31, 2021, to RMB 10,258.0 million as of December 31, 2022, while total liabilities decreased from RMB 3,040.7 million to RMB 2,084.2 million[32] - The debt-to-asset ratio improved from 27.6% in 2021 to 20.3% in 2022[32] - Cash and cash equivalents decreased to RMB 1,720,875 thousand from RMB 2,519,989 thousand in the previous year, a decline of about 31.6%[44] - Total accounts receivable as of December 31, 2022, was RMB 689,452 thousand, down 37.69% from RMB 1,108,591 thousand in 2021[63] Corporate Governance and Compliance - The company has adhered to all applicable corporate governance codes during the reporting period[71] - The audit committee has reviewed the consolidated financial statements for the year ended December 31, 2022, confirming compliance with applicable accounting principles[74] - The company has confirmed compliance with the standard code for securities transactions by directors during the reporting period[73] Future Plans and Strategies - The company plans to enhance its core competitiveness and profitability in the entertainment content service sector, focusing on film promotion and production[13] - The company aims to expand its business scope in the Hong Kong region and seek more commercial cooperation opportunities in other countries and regions[13] - The company will explore innovative business areas related to the post-film box office market, including the integration of film and live performances[13]
猫眼娱乐(01896) - 2022 - 年度业绩