WANDA FILM(SZ:002739)2024-04-29 13:47Financial Performance - The company reported a total revenue of 2,179,368,810, with a cash dividend of 0 per 10 shares[5]. - Wanda Film's revenue for 2023 reached 10 billion RMB, reflecting a 15% increase compared to the previous year[11]. - The company's operating revenue for 2023 reached ¥14.62 billion, a 50.79% increase compared to ¥9.70 billion in 2022[20]. - The net profit attributable to shareholders was ¥912.24 million, a significant recovery from a loss of ¥1.92 billion in 2022[20]. - The net profit after deducting non-recurring gains and losses was ¥718.78 million, compared to a loss of ¥2.08 billion in the previous year[20]. - The company reported a net profit of RMB 932,336,590.59 for the fiscal year 2023, with a net profit attributable to shareholders of RMB 912,242,629.16[156]. - The total number of employees at the end of the reporting period was 10,665, with 8,660 operational staff and 905 technical personnel[149][151]. Strategic Plans and Market Expansion - The company plans to continue its focus on market expansion and new product development as part of its growth strategy[6]. - The company plans to expand its market presence by opening 50 new cinemas in 2024, aiming for a 20% increase in market share[11]. - In 2024, the company plans to actively expand high-quality direct-operated cinemas, particularly in first-tier cities like Beijing and Shanghai, to enhance market share[93]. - The company aims to increase both box office and non-box office revenue through innovative management and operational strategies, including the development of self-researched products and upgrades to its movie app[94]. - The company plans to deepen IP cooperation with Time Network and develop derivative products, including a new series of baby-Molly merchandise set to launch in May 2024[97]. Risk Management and Compliance - The company emphasized the importance of risk factors in its business operations, urging investors to pay attention to investment risks[4]. - The company is implementing measures to mitigate investment risks in film projects by enhancing project management and marketing strategies to ensure key films are released as planned[99]. - Regulatory risks are present due to strict government oversight in the film industry, and the company is enhancing its understanding of industry policies to mitigate these risks[102]. - The company has established safety management protocols to address public safety risks associated with high audience volumes during peak times[103]. - The company has no non-operating fund occupation by controlling shareholders or other related parties during the reporting period[182]. Corporate Governance and Management - The company has established a robust internal control system, integrating checks into daily operations and optimizing internal control manuals based on external audit recommendations[113]. - The company maintains complete operational independence from its controlling shareholder, with distinct business, personnel, asset, and financial management[116]. - The company is focused on expanding its market presence and enhancing its product offerings through strategic appointments and governance changes[124][125]. - The company has a commitment to maintaining high governance standards with independent directors actively involved in oversight[130]. - The company has a remuneration management system in place for directors, supervisors, and senior management based on performance evaluation[139]. Research and Development - Wanda Film's R&D expenditure increased by 20% in 2023, emphasizing its commitment to innovation in film technology and production processes[11]. - The company is developing an automated privacy compliance detection software to mitigate risks associated with user privacy regulations[65]. - The number of R&D personnel decreased by 26.01% to 128, which may impact future innovation capabilities[66]. - R&D investment amounted to ¥70,915,044.87, down 18.32% from the previous year, with a decrease in the proportion of R&D investment to operating revenue from 0.90% to 0.49%[66]. Community Engagement and Corporate Social Responsibility - The company actively engaged in over 130 volunteer activities with more than 7,000 participants throughout the year[170]. - The company organized special screening events for veterans and military personnel, enhancing community engagement[169]. - The company has established 252 university student internship bases and achieved cooperation with 119 universities, enhancing its corporate social responsibility and employer brand image[171]. - The company has adopted patented low-carbon technology for its self-developed beverage series, emphasizing its commitment to sustainable development[172]. Shareholder Communication and Meetings - The company held one annual general meeting during the reporting period to review significant matters such as the annual report and asset impairment[107]. - The annual shareholders meeting on June 30, 2023, had a participation rate of 40.97%[122]. - The company disclosed 102 announcements in 2023, ensuring timely and fair information dissemination to all shareholders[114]. - The company is focused on enhancing communication with regulatory bodies and minority shareholders regarding performance compensation[146]. Financial Health and Investments - The total assets at the end of 2023 were ¥25.13 billion, a decrease of 5.92% from ¥26.71 billion at the end of 2022[20]. - The net assets attributable to shareholders increased by 13.14% to ¥8.03 billion, compared to ¥7.10 billion at the end of 2022[20]. - The company has a total of 204 subsidiaries, with 7 newly established and 18 deregistered in 2023[60]. - The company has not reported any significant losses from leasing projects that exceed 10% of the total profit for the reporting period[193].