JSCN(SH:600959)2024-04-09 16:00Financial Performance - Jiangsu Broadcasting Cable Information Network Co., Ltd. reported a total operating revenue of 7,597.10 million yuan for 2023, with revenue from maintenance fees and digital TV value-added services accounting for 34.64% at 2,631.47 million yuan[52]. - The net profit for the year was ¥427,019,598.11, compared to ¥405,745,978.10 in 2022, reflecting an increase of about 5.2%[65]. - Operating profit decreased to ¥-20,178,175.79 from ¥85,229,206.49 in the previous year, indicating a significant decline[65]. - The company reported a total revenue of ¥421,579,856.66, compared to ¥408,315,101.29 in the previous year, showing a slight increase of about 3.3%[65]. - The company's cash and cash equivalents increased to ¥5,172,836,371.82 as of December 31, 2023, up from ¥4,513,776,504.59 in 2022, representing a growth of approximately 14.7%[61]. - Total current assets reached ¥11,436,595,053.85, an increase of 8.7% from ¥10,514,806,864.26 in the previous year[61]. - The total liabilities decreased to ¥8,000,000,000 from ¥8,500,000,000, indicating a reduction of approximately 5.9%[61]. - The company achieved a gross profit margin of approximately 30% for the year, consistent with industry standards[65]. Investment and Financing Activities - The company issued a total of 1,000 million yuan in the first medium-term note in 2021, which has been fully utilized[46]. - In 2022, the company issued a total of 700 million yuan in the sixth short-term financing bond, also fully utilized[46]. - The company has issued a total of 600 million yuan in the first short-term financing bond for 2023, which has been fully utilized[46]. - The total amount raised from the first medium-term note in 2022 was 300 million yuan, fully utilized for its intended purpose[46]. - The company has a total bond balance of 1,025.10 million yuan with an interest rate of 3.68% for the first medium-term note issued in 2021[46]. - The company has issued a total of 600 million yuan in the eighth short-term financing bond in 2022, fully utilized for its intended purpose[46]. - The company has issued a total of 700 million yuan in the ninth short-term financing bond in 2022, fully utilized for its intended purpose[46]. - The company has issued a total of 500 million yuan in the fifth short-term financing bond in 2023, fully utilized for its intended purpose[46]. - The company has issued a total of 500 million yuan in the sixth short-term financing bond in 2023, fully utilized for its intended purpose[46]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.21 per 10 shares, totaling CNY 105,015,071.41 based on a total share capital of 5,000,717,686 shares as of December 31, 2023[38]. - The company has not implemented any capital reserve transfer to increase share capital in its profit distribution plan[38]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[39]. - The company’s unallocated profits for the year were $3.09 billion, with a total of $792.22 million in undistributed profits[71]. Audit and Compliance - The company received a standard unqualified audit report from Suya Jincheng Accounting Firm[3]. - The company’s board of directors and management have ensured the accuracy and completeness of the annual report[27]. - The company adheres to the accounting standards and principles, ensuring accurate financial reporting and compliance[108]. - The company aims to enhance its internal controls and financial reporting processes to ensure accuracy and compliance[86]. Market Strategy and Future Outlook - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[65]. - New product launches are expected to contribute an additional ¥200 million in revenue in the next fiscal year[65]. - The company plans to expand its market presence and invest in new product development to drive future growth[72]. Research and Development - Research and development expenses rose to ¥130,472,591.17, up from ¥99,056,767.74, marking an increase of approximately 31.7%[65]. - Research and development costs are expensed as incurred unless they meet capitalization criteria during the development phase[187]. Financial Instruments and Assets - The company’s financial instruments are classified into three categories, ensuring effective management of financial assets[123]. - The company assesses the fair value of financial instruments using observable market data or other valuation techniques[156]. - Long-term equity investments are accounted for using the cost method or equity method depending on the level of control over the investee[181][182]. - The company recognizes investment income from joint ventures and associates based on the proportionate share of unrealized internal transaction profits[183][184]. - Investment properties are held for rental income or capital appreciation, and are measured using the cost model[186][199]. Capital Structure and Equity - The total equity attributable to shareholders was $22.82 billion, reflecting an increase of $304.30 million during the year[71]. - The total equity attributable to the parent company is 21,442,673,371.79 RMB, with a capital reserve of 13,396,038,732.33 RMB and undistributed profits of 2,258,548,199.58 RMB[103]. - The total owner's equity increased by 231,013,758.63 RMB, with minority interests amounting to 770,289,296.98 RMB[103]. - The company’s capital reserve stood at $13.14 billion, with no changes reported during the year[71]. - The company’s capital stock remains at 5,000,717,686.00 RMB, indicating stability in its capital structure[103].