JiShi Media(601929)2024-04-11 16:00Financial Performance - The net profit attributable to shareholders of the listed company for 2023 is -692,945,904.79 RMB, representing a decrease of 63.36% compared to -424,195,868.31 RMB in 2022[5]. - Total operating revenue for 2023 is 1,599,556,922.15 RMB, down 11.77% from 1,812,997,058.85 RMB in 2022[21]. - The net cash flow from operating activities is 450,112,795.80 RMB, a decrease of 34.3% compared to 685,096,812.81 RMB in 2022[21]. - The total assets at the end of 2023 amount to 14,442,987,632.73 RMB, down 1.82% from 14,710,856,752.23 RMB in 2022[22]. - The net assets attributable to shareholders of the listed company at the end of 2023 are 6,561,936,158.17 RMB, a decrease of 5.79% from 6,964,915,647.46 RMB in 2022[21]. - Basic earnings per share for 2023 is -0.2099 RMB, a decline of 60.97% compared to -0.1304 RMB in 2022[23]. - The weighted average return on net assets for 2023 is -10.47%, a decrease of 4.44 percentage points from -6.03% in 2022[23]. - The company plans not to distribute cash dividends for 2023 due to the negative net profit attributable to shareholders[5]. Operational Highlights - The company has not reported any significant operational risks that could materially affect its business during the reporting period[7]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7]. - In Q1 2023, the company reported operating revenue of approximately RMB 468.72 million, while in Q2, it decreased to RMB 383.20 million, and further declined to RMB 348.39 million in Q3, before recovering to RMB 399.25 million in Q4[25]. - The net profit attributable to shareholders was RMB 2.09 million in Q1, but turned negative with a loss of RMB 244.59 million in Q3 and RMB 461.25 million in Q4[25]. - The net cash flow from operating activities showed a significant improvement, moving from a negative RMB 44.64 million in Q1 to a positive RMB 325.72 million in Q4[25]. Strategic Initiatives - The company has launched several major initiatives to enhance its core capabilities and competitiveness, including the rollout of the China Broadcasting Internet Backbone Network and a content integration broadcasting control platform[33]. - The company is focusing on expanding its market presence in key sectors such as emergency services, cultural tourism, and specialized communications, aiming to leverage its strengths in these areas[33]. - The company has established four centers to optimize its customer business operations, enhancing its service delivery from customer relationship management to after-sales support[33]. - The company is actively participating in the construction of smart cities and digital rural areas, positioning itself as a key player in the "Digital Jilin" initiative[36]. - The company is collaborating with Lenovo and HP to develop innovative 5G terminal products, enhancing user experience in various applications[43]. Financial Management - The company has established a comprehensive risk management framework, successfully avoiding any safety incidents during the year[40]. - The company has implemented a material management reform, optimizing inventory handling and revitalizing inventory worth 120 million yuan throughout the year[37]. - The company emphasizes the importance of cash flow management and strict investment controls to support business growth[100]. - The company has established a management method for subsidiaries to ensure effective control over organizational structure, development strategy, and financial reporting[142]. Governance and Compliance - The company has been recognized for its governance efforts, completing 55 tasks related to complex fee management and receiving accolades from the National Radio and Television Administration[32]. - The board of directors held 8 meetings and 3 shareholder meetings during the reporting period, ensuring compliance with legal and regulatory requirements[35]. - The company is committed to maintaining a clean political environment and has strengthened its anti-corruption measures through various initiatives[41]. - The company maintains a robust governance structure, ensuring compliance with legal and regulatory requirements[105]. Market and Customer Engagement - The company achieved a significant increase in user coverage, reaching 9.48 million users for fiber optic services across the province[39]. - The company has built a total of 197,300 kilometers of intelligent optical network, covering 9,542,100 households in the province[53]. - The company is focused on building a comprehensive smart service platform to support the "Digital Jilin" initiative, utilizing new technologies such as cloud computing, big data, and AI[89]. - The company is leveraging new media platforms for brand promotion and user engagement, aiming to enhance brand recognition in the 5G market[95]. Future Outlook - Future outlook includes a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[116]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and customer reach[116]. - The company aims to achieve a 25% increase in digital service subscriptions by the end of 2024[116]. - The company plans to enhance its network capacity by fully covering the optical fiber network, which will improve service offerings in smart home, elderly care, security monitoring, and smart healthcare sectors[86]. Remuneration and Human Resources - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 4.4676 million yuan[122]. - The remuneration for directors and supervisors is determined by the shareholders' meeting, while senior management remuneration is set by the board's compensation and assessment committee[121]. - The company has a total of 827 R&D personnel, accounting for 13% of the total workforce[70]. - The company has adjusted the ratio of basic salary to performance salary from 6:4 to 4:6 to better align with user growth and performance improvement[136]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 95,912, an increase from 94,348 at the end of the previous month[166]. - The largest shareholder, Jilin Broadcasting and Television Station, holds 983,337,364 shares, representing 28.18% of total shares[168]. - The company has not reported any changes in shareholding for its directors and supervisors during the year[110]. - The total number of shares pledged by the largest shareholder exceeds 80% of their holdings[175].