Shifeng Cultural(SZ:002862)2024-07-09 12:23Group 1: Financial Performance and Challenges - The company has experienced a trend of losses over the past three years, primarily due to market environment impacts on the toy segment, including the pandemic and shipping capacity constraints [1][2]. - The toy segment's revenue has remained around 300 million RMB despite these challenges [2]. - The company has conducted impairment treatment on certain inventories and investment projects, contributing to the financial performance issues [2]. Group 2: Improvement Measures for Toy Business - In 2024, the company plans to leverage its years of toy manufacturing experience to focus on technological research and design innovation, enhancing product lines such as trendy toys and smart products [2]. - The company aims to capitalize on the rapidly growing IP licensing industry in China, collaborating with major IPs from anime, games, and movies to enrich its product offerings and attract more users [2]. - The company will develop diversified retail channels and utilize big data for personalized marketing to enhance brand awareness and market reach [2]. Group 3: Renewable Energy Initiatives - The company is accelerating the development of a renewable energy ecosystem, focusing on integrating resources and collaborating on photovoltaic power generation projects [3][6]. - A partnership with China South-to-North Water Diversion Group has been established to develop distributed photovoltaic and wind power projects with a capacity of no less than 1,000 MW [6][8]. - The company is committed to contributing to national carbon neutrality goals by developing a diversified and environmentally friendly renewable energy industry ecosystem [3][8]. Group 4: Gaming Business Strategy - The gaming segment will expand its operational model in 2024 to include direct investments and live streaming, targeting overseas markets [3][8]. - The company has developed over 100 mini-games, with notable titles achieving success on platforms like Douyin and Kuaishou [4]. - The focus will be on enhancing self-developed capabilities and launching new game titles to meet diverse market demands [4][9]. Group 5: Shareholder Return Plans - The company has outlined a shareholder return plan for 2024-2026, proposing cash or stock dividends based on profitability and retained earnings [5]. - The plan includes a minimum cash distribution of 30% of the average distributable profit over the last three years, subject to certain conditions [5].