Financial Performance - Revenue for the year ended December 31, 2022, was RMB 873.4 million, a decrease of 22.5% compared to RMB 1,126.7 million in 2021[2] - Adjusted net profit for the year was RMB 120.8 million, compared to a loss of RMB 304.3 million in 2021[2] - The company reported a pre-tax profit of RMB 104.4 million, a significant recovery from a loss of RMB 327.4 million in the prior year[2] - The net profit attributable to equity holders of the parent was RMB 86.9 million, compared to a loss of RMB 345.0 million in 2021[3] - The net profit for 2022 was RMB 84.6 million, a significant turnaround from a net loss of RMB 351.7 million in 2021[46] - The adjusted net profit for 2022 was RMB 120.8 million, compared to an adjusted net loss of RMB 304.3 million in 2021[46] Revenue Breakdown - Revenue from mainland China was RMB 812,375 thousand in 2022, down 22.3% from RMB 1,045,035 thousand in 2021[15] - Revenue from variety show IP production, operation, and licensing accounted for approximately 80.4% of total revenue in 2022, down from 78.1% in 2021[47] - Revenue from music IP operation and licensing was RMB 63,653 thousand in 2022, down 46.3% from RMB 118,335 thousand in 2021[19] - Revenue from variety show IP production, operation, and licensing decreased by 20.1% from RMB 879.5 million in 2021 to RMB 702.4 million in 2022[50] - Revenue from film and TV series IP operation and licensing decreased by 32.1% from approximately RMB 86.4 million in 2021 to approximately RMB 58.7 million in 2022[52] - Revenue from other IP-related businesses increased by 14.6% from approximately RMB 42.5 million in 2021 to approximately RMB 48.7 million in 2022[53] Cost and Profitability - Gross profit increased by 2.5% to RMB 281.1 million from RMB 274.3 million in the previous year[2] - Total sales cost decreased by 30.5% from RMB 852.4 million in 2021 to RMB 592.3 million in 2022[54] - Gross margin improved from 24.3% in 2021 to 32.2% in 2022[59] - Gross profit from variety show IP production, operation, and licensing rose by 41.5% to RMB 164.4 million in 2022, with a gross margin of 23.4%[60] - Gross profit from music IP operation and licensing decreased by 44.7% to RMB 47.2 million in 2022, maintaining a gross margin of 74.2%[61] Assets and Liabilities - Total assets increased to RMB 4,508.98 million from RMB 4,061.41 million in 2021, reflecting a growth in the company's asset base[6] - The company reported a net asset value of RMB 4,478.29 million, up from RMB 4,047.86 million in the previous year[8] - Cash and cash equivalents increased to RMB 587.59 million from RMB 547.18 million, indicating improved liquidity[6] - Trade receivables decreased to RMB 625,956,000 in 2022 from RMB 859,332,000 in 2021, reflecting a reduction in credit risk[29] - Trade payables decreased to RMB 253,252,000 in 2022 from RMB 343,532,000 in 2021, indicating improved cash flow management[34] Corporate Governance - The company has adopted the principles and code provisions of the Corporate Governance Code as the basis for its corporate governance practices[93] - The audit committee has reviewed the audited consolidated financial statements for the year ended December 31, 2022, and discussed accounting policies and internal controls with senior management[95] - The company has complied with the Corporate Governance Code since its listing date up to the announcement date[93] - The chairman and CEO roles are held by the same individual, which deviates from the recommendation of separating these roles, but the board believes this arrangement benefits the company's business outlook[93] - The company will continue to review and monitor its corporate governance practices to ensure compliance with the Corporate Governance Code[93] Future Plans and Developments - The company plans to continue expanding its IP-related business, focusing on production, operation, and licensing of various entertainment properties[10] - The company plans to launch multiple new variety shows in 2023, focusing on music, dance, and talent shows[41] - The company aims to expand its audience reach and brand influence by increasing partnerships with media platforms and enhancing its content production capabilities[45]
星空华文(06698) - 2022 - 年度业绩