MangoExcellentMediaCo.,Ltd.AnnualReport2021
MangoExcellentMediaCo.,Ltd.
AnnualReport2021
2022-021
April2022
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionIImportantNote,TableofContentsandDefinitionsTheBoardofDirectors,theBoardofSupervisors,directors,supervisorsandexecutivesoftheCompanyherebywarrantthattheinformationcontainedinthisAnnualReportistrue,accurateandcompleteandthisAnnualReportisfreefromanymisrepresentation,misleadingstatementormaterialomission,andagreetoassumejointandseveralliabilityforthisAnnualReport.
ZHANGHuali,PrincipaloftheCompany,CFOLIANGDepingandChiefAccountantTAOJinyuherebyrepresentthatthefinancialstatementscontainedinthisAnnualReportaretrue,accurateandcomplete.
AlldirectorsoftheCompanyattendedthemeetingoftheBoardofDirectorsreviewingthisReport.
ThisReportcontainscertainforward-lookingstatementsregardingfutureplans,developmentstrategiesandotherprojectedmatters,whichdonotconstituteanysubstantialcovenantmadebytheCompanytotheinvestors.Theinvestorsandrelatedpersonsshallbefullyawareoftherelevantrisks,andunderstandthedifferencesamongsuchplans,forecastsandcovenants.
TheCompanyhasstatedindetailsthepossiblerisksinitsoperationandcountermeasuresinthisreport.InvestorsareadvisedtorefertotheSectionIII“Management’sDiscussionandAnalysis-ProspectsforfuturedevelopmentoftheCompany”.
AccordingtotheprofitdistributionproposalapprovedbytheBoardofDirectors,theCompanywilldistributeacashdividendofRMB1.30(inclusiveoftax)per10sharestoallshareholdersonthebasisof1,870,720,815shares,andwillnotdistributeanybonussharesortransferanycapitalreservetothesharecapital.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
TableofContents
SectionIImportantNote,TableofContentsandDefinitions ...... 2
SectionIICompanyProfileandKeyFinancialIndicators ...... 6
SectionIIIManagement’sDiscussionandAnalysis ...... 10
SectionIVCorporateGovernance ...... 39
SectionVEnvironmentalandSocialResponsibility ...... 62
SectionVIImportantEvents ...... 63
SectionVIIShareChangesandInformationofShareholders ...... 80
SectionVIIIPreferredShares ...... 91
SectionIXBonds ...... 92
SectionXFinancialReport ...... 93
MangoExcellentMediaCo.,Ltd.AnnualReport2021
ListofReferences
1.Financialstatementssignedandchoppedbytheprincipal,CFOandChiefAccountantoftheCompany;
2.Originaloftheauditor’sreportstampedwiththesealoftheaccountingfirmandsignedandchoppedbythecertifiedpublicaccountants;
3.OriginalsofalldocumentsoftheCompanypubliclydisclosedonthewebsiteforinformationdisclosuredesignatedbytheChinaSecuritiesRegulatoryCommissionduringthereportingperiodandrelatedannouncements;and
4.Otherreferences.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Definitions
| Terms | Definition | |
| MangoExcellentMedia,Company,we/ourortheListedCompany | means | MangoExcellentMediaCo.,Ltd. |
| MangoExcellentMediaCo.,Ltd. | means | ThefullnameoftheCompanyinEnglish. |
| MANGO | means | theshortnameoftheCompanyinEnglish. |
| HappySunshine | means | HunanHappySunshineInteractiveEntertainmentMediaCo.,Ltd.,awholly-ownedsubsidiaryoftheListedCompany. |
| MangoStudios | means | MangoStudiosCultureCo.,Ltd.,awholly-ownedsubsidiaryofHappySunshine. |
| MangoEntertainment | means | HunanMangoEntertainmentCo.,Ltd.,awholly-ownedsubsidiaryofHappySunshine. |
| EE-Media | means | ShanghaiEE-MediaCo.,Ltd.,awholly-ownedsubsidiaryoftheListedCompany. |
| Mangofun | means | ShanghaiMangofunTechnologyCo.,Ltd.,awholly-ownedsubsidiaryofHappySunshine. |
| Happigo | means | HappigoCo.Ltd.,awholly-ownedsubsidiaryoftheListedCompany, |
| HappyMoney | means | HunanHappyMoneyMicrofinanceCo.,Ltd. |
| MangoTV | means | TheonlinevideoplatformaffiliatedtotheListedCompanyandoperatedbyHappySunshine. |
| MangoMedia | means | MangoMediaCo.Ltd,controllingshareholderoftheCompany |
| HunanBroadcastingSystem | means | ActualcontrolleroftheCompany |
| GBS | means | GoldenEagleBroadcastingSystemCo.,Ltd.,anintegratedcompanyoperatedbytheHunanBroadcastingSystem(HBS),theactualcontrolleroftheCompany. |
| HBNHG | means | HunanBroadcastingNetworkHoldingGroupCo.,Ltd.,asubsidiaryofGBS. |
| XiaoxiangFilmGroup | means | XiaoxiangFilmGroupCo.,Ltd.,asubsidiaryofGBS. |
| HTBI | means | HunanTV&BroadcastIntermediaryCo.,Ltd. |
| ChinaMobile | means | ChinaMobileCommunicationsGroupCo.,Ltd. |
| IPTV | means | Internetprotocoltelevision,atechnologyintegratedwithinternet,multimedia,communicationandothertechnologiesthatprovideshomeuserswithdigitaltelevisionandotherinteractiveservicesthroughbroadbandnetwork. |
| OTT | means | Overthetop,whichprovidesavarietyofvideoanddataservicestousersviatheInternet. |
| IP | means | Intellectualproperties,thepropertyrightsgiventopersonsoverthecreationsoftheirminds. |
| APP | means | Application,mobileapplicationprogram. |
| PAD | means | Portabledevice. |
| PC | means | Personalcomputer. |
| TV | means | Television. |
| AR | means | Augmentedreality. |
| VR | means | Virtualreality. |
| 5G | means | 5Gnetwork. |
| UGC | means | Usergeneratedcontent. |
| QM | means | QuestMobile,amobilewebbigdatacompany |
| KOL | means | KeyOpinionLeader |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionIICompanyProfileandKeyFinancialIndicators
I.Companyprofile
| Stockshortname | Mango | Stockcode | 300413 |
| Chinesename | 芒果超媒股份有限公司 | ||
| Chineseshortname | 芒果超媒 | ||
| Englishname(ifany) | MangoExcellentMediaCo.,Ltd. | ||
| Englishshortname(ifany) | Mango | ||
| Legalrepresentative | ZHANGHuali | ||
| Registeredaddress | GoldenEagleTVCultureCity,Changsha,Hunan | ||
| Postalcodeofregisteredaddress | 410003 | ||
| Historyofchangesinregisteredaddress | None | ||
| Officeaddress | GoldenEagleTVCultureCity,Changsha,Hunan | ||
| Postalcodeofofficeaddress | 410003 | ||
| Companywebsite | https://www.mgtv.com | ||
| mangocm@mangocm.com | |||
II.Contactpersonandcontactinformation
| BoardSecretary | SecuritiesAffairsRepresentative | |
| Name | WUJun | HUANGJianyong |
| Address | GoldenEagleTVCultureCity,Changsha,Hunan | GoldenEagleTVCultureCity,Changsha,Hunan |
| Telephone | (0731)82967188 | (0731)82967188 |
| Facsimile | (0731)82897962 | (0731)82897962 |
| mangocm@mangocm.com | mangocm@mangocm.com |
III.Informationdisclosureandplaceforkeepingannualreport
| WebsiteofthestockexchangedisclosingtheCompany’sannualreport | http://www.szse.cn |
| MediaandwebsitedisclosingtheCompany’sannualreport | TheChinaSecuritiesJournal,theSecuritiesTimes,theSecuritiesDaily,theShanghaiSecuritiesNewsandhttp://www.cninfo.com.cn |
| PlaceforkeepingtheCompany’sannualreport | BoardofDirectorsOfficeoftheCompany |
IV.Otherrelatedinformation
AccountingfirmengagedbytheCompany:
| Nameofaccountingfirm | Pan-ChinaCertifiedPublicAccountantsLLP |
| Officeaddressofaccountingfirm | 6/F,No.128,XixiRoad,XihuDistrict,HangzhouCity,ZhejiangProvince |
| Nameofaccountantssigningthisreport | LIUGangyueandZHANGHong |
SponsorinstitutionengagedbytheCompanythatperformsthedutiesofongoingsupervisionovertheCompanyduringthereportingperiod:
√Applicable□N/A
| Nameofsponsorinstitution | Officeaddressofsponsorinstitution | Sponsor’srepresentative | Periodofcontinuoussupervision |
| ChinaInternationalCapitalCorporationLimited | 27&28/F,Block2,ChinaWorldTowers,No.1JianguomenwaiStreet,ChaoyangDistrict,Beijing | YAOXudongandWANGKun | FromAugust24,2021toDecember31,2023 |
FinancialadvisorengagedbytheCompanythatperformsthedutiesofongoingsupervisionovertheCompanyduringthereportingperiod:
MangoExcellentMediaCo.,Ltd.AnnualReport2021
□Applicable√N/A
V.Keyaccountingdataandfinancialindicators
DidtheCompanyneedtoretrospectivelyadjustorre-stateaccountingdataofprioraccountingyears?
□Yes√No
| 2021 | 2020 | Y/Y%change | 2019 | |
| Operatingrevenue(RMB) | 15,355,863,482.07 | 14,005,534,955.36 | 9.64% | 12,500,664,232.05 |
| Netprofitattributabletoshareholdersofthelistedcompany(RMB) | 2,114,090,171.85 | 1,982,159,476.82 | 6.66% | 1,156,285,253.73 |
| Netprofitattributabletoshareholdersofthelistedcompanyafterdeductionofextraordinarygainorloss(RMB) | 2,059,758,151.24 | 1,846,203,181.73 | 11.57% | 1,093,036,165.68 |
| Netcashflowsfromoperatingactivities(RMB) | 561,800,882.37 | 580,970,353.08 | -3.30% | 292,866,711.18 |
| Basicearningspershare(RMB/share) | 1.17 | 1.11 | 5.41% | 0.66 |
| Dilutedearningspershare(RMB/share) | 1.17 | 1.11 | 5.41% | 0.66 |
| Weightedaveragereturnonnetassets | 16.25% | 20.46% | -4.21% | 15.68% |
| Endof2021 | Endof2020 | Y/Y%change | Endof2019 | |
| Totalassets(RMB) | 26,110,751,404.90 | 19,265,699,802.98 | 35.53% | 17,078,206,149.68 |
| Netassetsattributabletoshareholdersofthelistedcompany(RMB) | 16,966,400,358.23 | 10,587,978,185.42 | 60.24% | 8,783,859,219.07 |
Whetherthelowerofthenetprofitbeforeandafterdeductionofextraordinarygainorlossinthepastthreeaccountingyearshasbeennegativeandthemostrecentannualauditor’sreportindicatesthattheCompany’sabilitytocontinueasagoingconcernisuncertain?□Yes√NoWhetherthelowerofthenetprofitbeforeandafterdeductionofextraordinarygainorlossisnegative?
□Yes√No
VI.Keyfinancialindicatorsbyquarter
InRMB
| Firstquarter | Secondquarter | Thirdquarter | Fourthquarter | |
| Operatingrevenue | 4,008,953,829.13 | 3,844,274,956.64 | 3,778,078,677.52 | 3,724,556,018.78 |
| Netprofitattributabletoshareholdersofthelistedcompany | 773,455,157.66 | 677,752,452.09 | 528,792,372.20 | 134,090,189.90 |
| Netprofitattributabletoshareholdersofthelistedcompanyafterdeductionofextraordinarygainorloss | 771,179,702.79 | 668,842,459.86 | 531,484,128.95 | 88,251,859.64 |
| Netcashflowsfromoperatingactivities | 426,746,375.68 | -24,802,517.88 | -76,777,607.56 | 236,634,632.13 |
Whetherthere’sanymaterialdifferencebetweenthefinancialindicatorsoraggregateamountsthereofsetoutaboveandthecorrespondingfinancialindicatorssetoutinanyquarterreportorsemi-annualreportoftheCompanyalreadydisclosed?
□Yes√No
MangoExcellentMediaCo.,Ltd.AnnualReport2021
VII.Differencesinaccountingdataarisingfromadoptionofforeignand
Chineseaccountingstandardsconcurrently
1.Differencesbetweennetprofitandnetassetsdisclosedonthefinancialstatements
accordingtotheinternationalaccountingstandardsandtheChineseaccountingstandardsconcurrently
□Applicable√N/ATherewasn’tanydifferencebetweennetprofitandnetassetsdisclosedonthefinancialstatementsforthereportingperiodduetoadoptionoftheinternationalaccountingstandardsandtheChineseaccountingstandardsbyusconcurrently.
2.DifferencesbetweennetprofitandnetassetsdisclosedonthefinancialstatementsaccordingtotheforeignaccountingstandardsandtheChineseaccountingstandardsconcurrently
□Applicable√N/ATherewasn’tanydifferencebetweennetprofitandnetassetsdisclosedonthefinancialstatementsforthereportingperiodduetoadoptionoftheforeignaccountingstandardsandtheChineseaccountingstandardsbyusconcurrently.VIII.Itemsandamountsofextraordinarygainsorlosses
√Applicable□N/A
InRMB
| Item | Theamountof2021 | Theamountof2020 | Theamountof2019 | Remark |
| Gainorlossondisposalofnon-currentassets(includingallowanceforimpairmentofassetsthathasbeenwrittenoff) | 501,358.91 | 70,055,759.62 | -253,138.65 | |
| Governmentgrantsrecognizedinprofitorloss(excludinggovernmentgrantsthatarecloselyrelatedtothebusinessoftheCompanyandareprovidedinfixedamountorquantitycontinuouslyaccordingtotheapplicablepolicesofthecountry) | 35,999,768.69 | 49,700,923.82 | 57,599,556.19 | |
| Gainorlossonassetsunderentrustedinvestmentormanagement | 34,265,617.23 | 3,906,349.28 | 7,344,704.18 | |
| Reversalofimpairmentlossonaccountsreceivabletestedforimpairmentindividually | 4,843,660.00 | 31,747,600.00 | 1,800,000.00 | |
| Othernon-operatingrevenueandexpenses | -21,265,876.15 | -18,913,395.60 | -111,786.45 | |
| Less:Effectofincometax | 1,209.77 | 2,138,585.88 | ||
| Effectofminorityinterest(exclusiveoftax) | 12,508.07 | 539,732.26 | 991,661.34 | |
| Total | 54,332,020.61 | 135,956,295.09 | 63,249,088.05 | -- |
Otheritemsofgainorlosswithinthemeaningofextraordinarygainsorlosses:
□Applicable√N/AWedonothaveanyotheritemofgainorlosswithinthemeaningofextraordinarygainsorlosses.ClassificationofanyitemofextraordinarygainorlossdefinedbytheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesPubliclyOfferingSecurities-ExtraordinaryGainorLossasrecurrentprofitorloss:
□Applicable√N/AWehavenotclassifiedanyitemofextraordinarygainorlossdefinedbytheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesPubliclyOfferingSecurities-ExtraordinaryGainorLossasrecurrent
MangoExcellentMediaCo.,Ltd.AnnualReport2021
profitorlossduringthereportingperiod.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionIIIManagement’sDiscussionandAnalysis
I.Situationsofourindustryduringthereportingperiod
1.Asthemainarena,battlefieldandforefront,themediaareundergoingin-depthconvergence.
TheResolutionoftheCentralCommitteeoftheCommunistPartyofChinaontheMajorAchievementsandHistoricalExperienceofthePartyoverthePastCenturystatesthatthePartyputsheavyemphasisondevelopingandcreatingnewmeansofcommunication;ithaspromotedintegrateddevelopmentofmedia,andworkedtostrengthenthepenetrationandcredibilityofthemediaanditsabilitytoguideandinfluence;thePartythereforeattachesgreatimportancetotheInternetasthemainarena,battleground,andforefrontoftheideologicalstruggle;ithasimprovedtheleadershipandmanagementsystemsfortheInternet,regulatedthecyberspaceaccordingtothelaw,andstrivedtofosteracleanonlineenvironment.AlongwiththepromulgationandimplementationoftheAnti-trustGuidelinesforPlatformEconomy,comprehensiverectificationandcontroloftheculturalandentertainmentsectorandlaunchof“Qinglang”specialcampaigns,theelementsofinternalandexternaldevelopmentoftheInternetindustriesandtheculturalandentertainmentsectorhavebeenfurtherregulated,disorderlycompetitionshavebeeneffectivelycurbed,andtheindustryhasbecomemoreorderly.Long-termdevelopment,proprietarycontentandinnovationhavebecomecommonunderstandingaboutthedevelopmentofInternetcontentplatformsinthenewera.
2.Thevideoindustryenterstheeraofcompetitionforexistingusers,andwitnesseschangesinmarketrecognition,developmentpatternandunderlyinglogics.
AccordingtotheAnnualReportonChina’sMobileInternetDevelopment2021publishedbyQuestMobile,asoftheendof2021,therewere1.174billionmobileInternetsubscribersinChina;thecoverageofthemobileInternethasreachedthesaturationpointgenerally;thetotalnumberofsubscribersincreasedslightly.Theindustryenterstheeraofcompetitionforexistingusersinthenumberandactivenessofsubscribersandmarketpenetration.Themarketrecognition,developmentpatternandunderlyinglogicsofthelongvideoindustryareundergoingradicalchanges,thetraffic-guidedexpansionisdrawingtoanend,thedevelopmentmodelthatgainsmarketsharethroughcashburningcannotbecastoffovernight,andthenumberofsubscribersandpaidmembersofsomeplatformshasstoppedincreasing.Inthecontextofsuchchanges,thelongvideoindustryfindsnewopportunitiesofdevelopment,anditbecomescriticalforthenewpatternofthelongvidesectortoreturntotheessenceofcontentcreation,increasetheconversionrateofexistingusersandoperatememberserviceecosystemmeticulously.
3.TheInternetadvertisingmarketisgrowingsteadilyandthemediacontentmarketinghasbecomethecoredrivingforcefortheindustry.
AccordingtotheAnnualReportonChina’sMobileInternetDevelopment2021andrelevantdatapublishedbyQuestMobile,thetotalsizeoftheadvertisingandpromotionmarketincreasedmorethan11%yearonyear;theInternetadvertisingmarkethasmaintainedagoodmomentumofdevelopment,reflectedbythecontinuousincreaseinthedurationofuseofonlineproductsandfrequencyofinteractionbyusersofvideoplatformsandothercontentmedia,whichpropelsthebrandstoattachgreatimportancetocontentoperations;themarketshareofcontentoperationshasbeenincreasingcontinuously;andthegrowthrateofeffectadvertisementsiscloseto60%.Inthefieldoflongvideostreamingadvertisements,theintegratedplatformshavingcontentecosystemcoveringtheentireindustrychainarecontinuouslyconsolidatingtheirmarketposition.Theintegratedvideoplatformsareenhancingtheiradvantagesinconversionrateatterminalsoftheadvertisingconsumermarket,customeradhesion,IPpremiums,brandexpansionandotherareas,andmajoradvertisersshowagreaterpreferenceforleadingnewmediaplatforms.
4.Alongwiththeupgradingofuserbase,contentqualityandtechnicalstandards,thedevelopmentofbigscreensmartIPTVisaccelerating.
AccordingtotheCommunicationsStatisticsBulletin2021,therewere349millionIPTVsubscribersinChinain2021,anetincreaseof33.36millionyearonyear;andthethreemajorcarriershad536millionbroadbandsubscribersintotal,whichmeansthatthepenetrationofIPTVamongbroadbandsubscribersreachesmorethan65%.AccordingtotheAsiaPacificPayTVForecastsissuedbyDigitalTVResearch,thenumberofIPTVsubscribersinChinawillincreaseby44millionbetween2021and2027.ThesubscribersofbigscreensmartTV,mainlyIPTV,havethecorecharacteristicsofhighconfidenceofTVsubscribersandhighadhesionofpaidsubscribers.Highqualitycontent,rapidpopularizationof4K/8KultraHDstandard,improveduserexperiencerealizedbysmartrecommendationandwaterfalldisplayhavebecomemaindrivingforcesbehindtheupgradingandaccelerateddevelopmentofthesmartbigscreensector.
5.Thecontentsectorisimprovingqualityandreducingvolume,andthemarketshareofpositiveenergyandcentralthemecontentisgrowingsteadily.
Accordingtothe2021InsightsintoEntertainmentissuedbyEndata,theproductionofvarietyshowshasdecreasedforthreeconsecutiveyears.In2021,428varietyshowswerereleasedintotal,adecreaseofmorethan5%ascomparedwiththeprecedingyear.Thepoliciesrelatingtovarietyshowshavebeenfurtherimproved,asaresultofwhich,thetraffichype,excessiveentertainmentandotheradversetrendshavebeen
MangoExcellentMediaCo.,Ltd.AnnualReport2021
effectivelycurbed,andthepositiveenergyworkscontinuouslyguidetheindustry.Thoughlongvideoplatformsstillmaintainthetraditionalsystemsuperiorityinthefieldofvarietyshows,shortvideoplatformsareactivelymakingbreakthroughsbyreleasingverticalandinnovativevarietyshows,andavarietyofmid-form,shortandmicrovarietyshowshavesprungupandbecomenewfocusoftheindustry.InthefieldoffilmsandTVdramas,thetotalnumberofhome-madeTVdramasandseriesdecreasedascomparedwiththeprecedingyear,trafficstars,hottopichypeandotherdevelopmentpatternsoftheindustryinthepastbegantoebb,andexcellentTVdramasandserieswithgoodconception,storiesandreputationandrespectingaestheticstandardsofaudiencesbecomethefocusofthemarket.TVdramasandseriesgivingfullscopeofthecentralthemeofthetimesandfocusingonhottopicswinthemarketbytheirqualityandgainreputationandpopularity;keyTVdramasandseriesmakeastrongperformanceonthemarket;shortTVdramasgrowrapidly;high-qualityshortTVdramashavebecomethenewandmaindevelopmentdirectionforthelongvideostreamingplatformsduetotheirbrands,intensificationandnormality;andcreativenetworkmicro-dramasandIPderivatedramasgrowcontinuously,tofurthersatisfythediversifieddemandsofmarketsegments.
6.Enhancingtheprotectionofcontentcopyrighthasbecomeacommonunderstandingoftheindustry,promotingtheintegrationandsounddevelopmentoflongandshortvideos.In2021,anumberofcontentindustryassociations,videoplatforms,filmandTVcompaniesandotherstakeholdersjointlyparticipatedinthepublicationoftheJointDeclarationontheprotectionofcopyrightinfilmsandTVdramas,the2021WhitepaperontheProtectionofCopyrightinShortVideosinChina,andtheStandardandDetailedRulesfortheExaminationofNetworkShortVideos,appealedtotheshortvideoplatformsandpublicaccountproducersandoperatorstorespectauthorshipandprotectcopyright,sothatthepracticesandstandardsrelatingtoshortvideoshavebeenfurtherdefinedandimproved.Toimprovethecopyrightprotectionpracticesofthelongandshortvideoindustryhasbecomeacommonunderstandingoftheindustry,andthemajormarketplayers’awarenessofcopyrightprotectionhasbeenenhancedgenerally.Thelongvideoplatforms,onthebasisofhigh-qualityvarietyshows,dramas,series,filmsandotherkeycontentIPs,activelyinnovateinmid-form,shortandmicrovideos,continuouslyenhancecommercialincentivesandtrafficsupport,andactivelypromotetheecologicalextensionofPUGC,resultinginanincreaseinmarketshareofexcellentmicro-showsandmicro-dramas.Theshortvideoplatformscontinuouslyincreaseinvestmentintheecosystemforprofessionalusergeneratedcontent,widenthetrafficdistributionchannelsinavarietyofways,furtherexploitthelower-tierandoverseasmarkets,andfocusonmonetizationofthevalueof“shortvideo+e-commerce”users.
7.Themetaverseindustryisontheupswing,andvirtualhuman,VR/AR,digitalcollectionandotherfrontiermetaversetechnologiesguidethetrendofinnovationofthecontentindustry.Digitalvirtualhuman,VR/AR,digitaltwin,digitalcollectionandotherfrontiermetaversetechnologies,explorationofnew-generationInternetpatternsandothernewtrendsoftheindustryhavedrawnwideattentionthroughouttheworld,andmoreandmoresocialmedia,gaming,e-commerce,advertising,andlongandshortvideoplatformsbegintosetfootinthisfield.Creationofvirtualcontent,copyrightprotectionusingblockchainencryptiontechnologyanddigitalcirculationofassetshavebecometheinnovationtrendsoftheculturalandmediaindustry.Theindustries,universitiesandresearchinstitutesworktogethertopromotethecommercializationofmetaversetechnologies.Avarietyofsoftwareandhardwareproductsdesignedtocopewiththedemandsofyoungpeoplefornew-patterncontenthavebeenreleased,promotinginnovationinhigh-qualitycontentIPs,developmentofrelatedfrontiertechnologies,andrapidupgradingofbusinessmodels.New-typeinteractioncontent,3Dvirtualsocialmedia,integratedvirtualandrealshopping,andotherkindsofmetaverse-relatedbusinessinnovationshavebecomehottopicsofthemarket.
8.Thecompetitionincontentamonge-commerceplatformsisturningwhite-hot,andtheconstructionofverticalplatformecosystemisenhanced.
AccordingtotheAnnualReportpublishedbyQuestMobile,e-commerceshoppingisgrowingsteadily,andthenumberofmobilesubscribershasexceeded1.1billion.Inthecontextofnewmarketpattern,thecompetitionforcustomertrafficamongallkindsofe-commerceplatformsintheirsocialmedia,communityandcontentoperationsisturningwhite-hot.Thelower-tiermarketshavebecomethemainsourceofnewcustomers.Thenew-typecontente-commerceplatformsfurtherenhancetheiradvantageintheconversionrateof“recommendation”.Themajore-commerceplatformscontinuouslyinnovateinandproduce“recommendation”content,andonthebasisofintelligentalgorithms,accessdifferentkindsofpotentialusersthroughmultiplechannels,invariousformsandavarietyofmarketsegments,andpromotemulti-dimensionalbindingandin-depthlinkagebetweenaudiencesandcontent,products,brandsandplatforms.Throughrestructuringhuman,goods,storesandotherfactors,thenew-typecontente-commerceplatformscontinuouslyupgradethepastshoppingenvironmentto“socialmedia+shoppingenvironment”,andcreateanimmersiveshoppingexperiencebybuildingdiversifiedscenariosandusingnewdigitaltechnologies,toimprovetheefficiencyofmonetization.BycooperatingwithleadingIPandcreativecontentproviders,professionalartistsandKOLtalents,theplatformsactivelyexplorenewe-commercemodels,andcollaboratewithmid-andshort-formcontent,IPderivates,livestreamingcommerceandothernewe-commercedistributionchannels,inordertostimulateusers’purchaseintentionbymeansofcontent,andcreateanorganiccycleofhuman,goodsandcontentthatco-existandpromoteeachother.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
II.OurmainbusinessduringthereportingperiodWearerequiredtocomplywiththedisclosurerequirementsapplicableto“Internetvideobusiness”setforthintheGuideonSelf-regulatorySupervisionforCompaniesListedontheShenzhenStockExchangeNo.4–DisclosureofIndustryInformationbytheCompaniesListedontheChiNextBoard.Wearethefirststate-ownednewmediacompanylistedontheA-sharemarketthatischaracterizedbyintegrateddevelopment,andhasbuiltacoreindustrychaincoveringallchannelsandtheentirecontentecosystem,andistheintegratedconvergencemediaindustryandcapitaloperationplatformaffiliatedtoGBS(HBC).OurmainbusinessincludesMangoTVInternetvideobusiness,newmediainteractiveentertainmentcontentproductionandcontente-commercebusiness.RelyingontheMangoconvergencemediaecosystem,andcenteredontheInternetvideoplatformoperation,wehavebuiltanentiremediaindustrychainecosystemcoveringmembership,advertising,IPTV,OTT,filmsandTVdramas,varietyshows,artistagency,musiccopyrightoperation,IPderivativedevelopmentandliveentertainment,contente-commerce,etc.,characterizedbysynergeticdevelopmentoftheupstreamanddownstream.
1.MangoTVInternetvideobusinessMangoTVInternetvideobusinessmainlyincludesadvertising,membershipandoperatorbusiness.Theadvertisingbusinessisclassifiedintosoftadvertisingbusinessandhardadvertisingbusiness;wherethesoftadvertisingbusinesscentersoncontent,andfullyexploitsthemarketvalueofhigh-qualitycontentIPs,toprovidecustomerswithnamingrights,implantandotheradvertisingproducts;andhardadvertisingbusinessprovidescustomerswithpre-roll,insertedandotheradvertisingservices.Themembershipbusinessisclassifiedintoonlinemembershipbusinessandofflinemembershipbusiness;wheretheonlinemembershipbusinessmeanssuchbusinessactivitieswhereweattractuserstopurchasememberpackagesonlineonthebasisofourrichcopyrightresourcesandhigh-qualitycontentreleasedbyusexclusively;andtheofflinemembershipbusinessmainlyattractstargetaudiencestobecomeourmembersthroughpromotionalactivitiesinvariousforms.TheoperatorbigscreenbusinessmeanssuchbusinessactivitieswhereweenterintocooperationagreementswithmajorcarriersandcableTVoperators,pursuanttowhichweprovidethemwithcontentproductsandgivecooperationtothemintheirmarketingandpromotionalactivities,andsharetherelevantrevenueswiththem.
2.NewmediainteractiveentertainmentcontentproductionOurnewmediainteractiveentertainmentcontentproductionbusinessmainlyincludescontentproductionandoperation,artistagency,musiccopyright,IPderivativesdevelopmentandlocationbasedentertainmentbusiness.Thecontentproductionandoperationbusinessmainlyincludesproductionofvarietyshows,filmsandTVdramasandcontentcopyrightoperation,reflectingourcorecompetencies.Asaleadingcontentproducer,weproduceproprietaryandcustomizedhigh-qualitycontent,topublicizethepositiveenergyofthesociety,guidethecultureandvaluesofyoungpeople,andbringsocialbenefitsasastate-ownedculturalcompany.Ontheotherhand,weuseourhigh-qualitycontenttoattractmembers,serveadvertisersorotherwisebringeconomicbenefits.Intheartistagencybusiness,weseekandtrainnewtalentshavinggreatpotentialities,provideartistswithcomprehensiveservicesincludingpositioning,publicity,modeling,commercialsponsorship,etc.,buildanechelonofartistsatalllevelsandofvarioustypes,andcreateaclosedloopofartistagencybusinessbyarrangingtheartiststotakepartinfilms,TVdramas,varietyshows,commercialperformances,brandedconcerts,brandsponsorship,peripheralderivativeslicenseorotherwise.Inthemusiccopyrightbusiness,onthebasisofmusicIPresourcesaccumulatedandcontinuouslyenrichedbytheartists,wegrantonlineApplicenses,overseasdigitalmusiclicenses,gamelicenses,programlicenses,backgroundmusiclicensesforfilmsandTVdramasandotherdigitalmusiclicenses.IntheIPderivativedevelopmentandliveentertainmentbusiness,relyingontherichIPsofMangofamily,suchas
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Who’stheMurderer,GreatEscapeandotherhotprograms,wegrantmulti-dimensionalIPderivativeslicenses,carryoutofflinelocationbasedentertainmentbusinessaroundthecountry,andbuildM-CITYbrand.
3.Contente-commercebusinessOurcontente-commercebusinessmainlyincludesHappigo,amediae-commerceplatformtransformedfromtraditionalTVshopping,andXiaomang,averticalcontente-commerceplatformtargetingyoungstersonthebasisofourrichlongvideos.Themediae-commercebusinessmainlyreliesonTVscreen,whilealsopromotesinteractionbetweenbigscreenandIPTV,mobileApp,miniprogramandothersmallscreens,andmulti-channeloperations.Xiaomange-commerceplatformisdesignedas“acontente-commerceplatformfocusingonhome-madenewfashions”,putsforwardasloganof“gotoXiaomangtofindhome-madenewfashions”,recommendshome-madegoodstoyoungusersusinghigh-qualitycontent,andbuildsawhollynewe-commercemodelcenteredon“content+community+e-commerce”.
III.Analysisofcorecompetencies
1.Importantopportunitiesforin-depthintegrateddevelopmentofmediaThecommencementofthe14
thFive-yearplanperiodandthepromulgationoftheOpinionsonAcceleratingtheIn-depthIntegratedDevelopmentofMediabytheGeneralOfficeofCCCPCandtheGeneralAffairsOfficeoftheStateCouncilmarktheintegrateddevelopmentofmediaentersanewjourneyinthesecondhalf,andthePartymediaandstate-ownedenterprisesfaceaperiodofimportantopportunitiesforhigh-qualitydevelopment.Inthiscourseofhistoryfullofhonorsanddreams,wehavethesenseofresponsibilityandmissionthat“themainforcesshallenterthemainarena”,andwillgivefullplaytoouradvantagesasanintegratedmediaplatform,activelycarryoutmainstreampropagandacampaignsandcontentupgradingcampaigns,laystressontalentmanagement,copewithtradecompetition,throughinnovationinsystemsandmechanisms,buildanintegratedmainstreamnewmediagroupandecosystem,andestablishnewstandardsforstated-ownedInternetcompanies,tomakethemainforcesbecomerealmainforcesandthemainarenaactuallyplayitsrole.
2.AdvantagesofMangoconvergencemediainjointdevelopmentofdoubleplatformsInconformitywiththetrendofin-depthintegrateddevelopmentofmedia,HBShasbuiltthesoledoubleplatformsinthecountry,i.e.themainstreamnewmediaplatformMangoTVandthetraditionalmediaHunanTV.Thesetwoplatformsarecommittedtorealizingwin-windevelopment,bybuildingajointdevelopmentmodelcharacterizedbyco-creationandsharing,haverealizedcontentcreation,advertisingmarketing,jointinterviewandbroadcastingandotherareas,andmutualsupplementinproductclusterandlinkage,andactuallybroughtbenefitsofreformanddevelopmentthroughintegrateddevelopmentofmedia,andiniterationandsymbiosis,laidasolidfoundationforthebuildingofamainstreamnewmediagroupwithstrongpropagationforce,guidingforce,influenceandcredibility.
3.Innovationgenebasedontheconceptof“innovateordie”WecarrytheinnovationspiritofHBS,andsticktotheconceptof“innovateordie”;withrespecttomechanisms,haveestablishedtheopenandinnovativeincentivesystem,andvigorouslypromotedteamsystemandstudiosystem,tocreateasoundexternalenvironmentfortheemployeesthatbearsthebasicrisksandarousestheirenthusiasm;withrespecttomanagement,organized“MangoYouthTalk”,“YoungCEOClub”,“QingmangInternshipProgram”andotheractivities,tobuildinnovationandcreationexchangeplatformsforyoungpeopleandcontinuouslyimproveourinnovativetalentpoolandechelonbuildingsystem;withrespecttobusiness,setthegoalof“doitfirstorbethebest”,continuouslyenhancedcontentinnovationandupgrading,andpreservedourcorecompetenciesincontentcreation;andwithrespecttotechnology,accuratelyunderstoodthedevelopmenttrendoftheindustry,madeforward-lookingarrangementsfornewtechnologiesandnewbusinesses,takenpartincompetitionforfuturecommunicationpatterns,andacceleratedthein-depthintegrationofcultureandtechnology.
4.Thesmartmid-endmatrixenablessystemicproductionofproprietarycontentWesticktothebusinessphilosophythat“contentistheking”,relyonourstrongcontentproductionteams,securecoreessentialproductionfactors,andbuildahigh-levellongvideoplatform.Asoftheendofthereportingperiod,MangoTVhas26varietyshowproductionteams,andhasbuiltaproprietaryvarietyshowsystemhavingstrongcompetenciesandhighmarketvalueintheindustry,andbecomethelargestvarietyshowproducer.WithrespecttoTVdramasandseries,wenowhave29filmandTVdramaproductionteamsand34strategicstudiosundertheXinmangProgram,andinrelianceonMangoecosystem,activelyinnovateintheintegrationofTVstationandnetwork.Inaddition,wehavebuiltasmartmid-endmatrix,andrealizedstandardizedcoordinationinassessment,operation,product,technologyandotheraspectsofcontentproduction,inordertobuildajointactionmechanismwithefficientprocesses,activatedelementsandagileoperationthatenablessoundmanagement,liberatetheproductionforcesofthecontentteamsandcontinuouslyconsolidateandimprovethehigh-qualityproprietarycontentwithplentifullayersandspecialcharacteristicsofMango.
5.Differentialpositioningof“youth,metropolisandwomen”
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Westicktothespecialcontentstrategyandplatformpositioningof“youth,metropolisandwomen”,toensurethatourclearuserbase,finecontentproductsandadvertisersarelinkedandfitperfectlywitheachother.TheoveralluserimageofMangoTVis“vigor,fashionandquality”,amongothers,anditspercentageofwomenusersishigherthantheaverageleveloftheindustry.ClearuserimagingandplatformpositioningwillenhanceourspecialadvantagesinrealizingcompoundvalueofcontentIPsthroughmultiplechannelsandinavarietyofways,andbuildingmembershipoperationsystem.Onthisbasis,wewillcontinuouslyenrichthecontentmatrix,toacquiremorediversifiedusers.
6.Ecologicaladvantagewithjointactionsoftheupstreamanddownstreamoftheentireindustrychain
Inrelianceonouradvantagesincontentproduction,wecontinuouslybuildtheclosedloopofnewmediaecosystemcoveringtheentireindustrychainofmediaandInternet,wheretheupstreammainlyincludesartistagencyandvarietyshow,filmandTVdramaproductionbusiness,themid-streamisresponsibleforcontentoperationanddistributionthroughmultiplechannelsprovidedbytheonlinevideoplatforms,inrelianceonourstrongcontentproductioncapabilitiesandhigh-qualitycontentmatrix,andthedownstreamisresponsibleforadaptionanddevelopmentofMangofamilycontentIPsandderivativesofofflinelocationbasedentertainment,andonthebasisofcontent,createsawhollynewvideocontente-commercemodelcenteredon“video+content+e-commerce”,andrealizesmonetizationofderivativesthroughmultipleonlineandofflinechannels.Alllinksinourindustrychaincoordinateandsupplementwitheachother,creatingintegratedMangoecosystemcoveringtheentireindustrychainwithspecialcharacteristicsinthecontextofmediaconvergence.
7.“Onecloudandmultiplescreens”systemcoveringallterminalsandsupportedbymultiplelicenses
MangoTVisthesolemarketplayerintheInternetvideoindustrythatholdsbothIPTVandOTTbusinesslicenses,anditssmartbigscreenbusinesshascovered31provincialregionsinChina,andisanimportantsupportingpointforustodevelop5Gandlivingroomeconomy.Inrelianceonourcompletelicenses,ourvideocontentbusinesscoversallterminals,includingmobilephone,PAD,TV,IPTVandOTT.Wearethefirstvideomediaplatformthathasactuallybuilt“onecloudandmultiplescreens”systemintheindustry.
8.Sustainablebusinessmodel
Onthebasisofourattributesasavideoplatformandgeneofcontentproduction,wehaveblazedadevelopmentpathdifferentfromotherInternetplatforms.Ontheonehand,wehaverealizedeffectivecontrolovercontentproductioncoststhroughaccurateuserpositioning,strongcontentproductioncapabilities,andeffectiveclusterofcoreproductionfactors.Ontheotherhand,inrelianceonourindustry-leadingmodelofmonetizationthrough“membership+advertising+operator”channels,wehavedevelopedmultiplesourcesofrevenue,andbecomethesolemarketplayerintheInternetvideoindustrythathasmadeprofitsandmaintainedprofitability.
IV.Analysisofmainbusiness
1.Overview
Theyearof2021stoodatthehistoricalintersectionoftheTwoCentenaryGoalsandwasthe100
thanniversaryoftheCommunistPartyofChinaandthefirstyearofthe14
th
Five-yearPlan,startinganewjourneyforbuildingamodernsocialistcountryinallrespects.GuidedbythespiritofseriesofimportantspeechesofGeneralSecretaryXiJinping,weresolutelyimplementthedecisionsandarrangementsbytheCentralGovernmentaboutthein-depthintegrateddevelopmentofmediaandcomprehensiverectificationoftheculturalandentertainmentsector,strictlyperformourmissionsanddutiesasaPartymediaandstate-ownedcompany,focusonthebuildingofamainstreamnewmediagroupinthenewperiodofdevelopment,copewiththechangesinthecompetitionpatternoftheindustry,continuouslyenhancethevaluesguidingroleofmediaandinnovationinproprietarycontent,activelydealwiththerepeatedshocksbroughtaboutbyCOVID-19,andpromotethesteadyandhigh-qualitydevelopmentofalllinesofbusiness.Duringthereportingperiod,ouroperatingrevenuetotaledRMB15.356billion,anincreaseof9.64%yearonyear;andthenetprofitattributabletotheshareholdersoftheListedCompanywasRMB2.114billion,anincreaseof6.66%yearonyear.Ourcorebusiness,MangoTVInternetvideobusiness(advertising+membership+operatorbusiness),hasgrownsteadilyandrealizedanoperatingrevenueofRMB11.261billion,up24.29%yearonyear.
(1)Increasethemainstreamvoiceandplaythestrongtoneofthetimes,tocelebratethe100thanniversaryoftheCommunistPartyofChina“APartymediamustbeabsolutelyloyaltotheParty”.Wealwaysfollowthecorrectpoliticaldirection,directionofpublicopinionsandvalues,innovateonthebasisofwhathasworkedinthepast,andresolutelyoccupythemainstreampropagandafront.Withrespecttothepropagandaofimportantthemes,MangoTValwaysplaces“StudyTime”highlightedinredonitshomepage,launchedthespecialchannel“100
thanniversaryoftheCommunistPartyofChina”,andreleasedTVdramas“FaithMakesGreat”and
MangoExcellentMediaCo.,Ltd.AnnualReport2021
“RefinementofFaith”dedicatedtothe100thanniversaryoftheCommunistPartyofChina,focusingonthehistoricleapachievedbytheChinesepeopleundertheleadershipoftheCommunistPartyofChinafromstandinguprighttobecomingprosperousandgrowinginstrengthinvariousforms.Withrespecttonewsreels,weestablishedspecialdocumentarystudiosfocusingonthecreationofcentralthemeworks,andreleased17centralthemehigh-qualitydocumentariescarryingforwardpositiveenergy,including“DaughteroftheParty”,“WeAreYoung”and“MundaneGlory:HereComesTheParty”,ofwhich,“MundaneGlory”wasawardedasecondprizeinthe31stChinaNewsAwards,whichfullyreflectsourmissionandresponsibilityofthetimesasamainstreamnewmedia.Withrespecttointernationalcommunication,weupgradedtheinternationalAppofMangoTVinanall-roundway,andlaunched“ChineseCulture”,“100
thanniversaryoftheCommunistPartyofChina”,“TraditionalChineseCultureChannel”andotherspecialsections,tobuilditintoanimportantwindowforChineseculturetogoglobal.
(2)Innovateinthesystemandmechanisms,consolidateouradvantagesintheproductionofproprietarycontentandenhancethevaluesguidingroleofcontentWesticktothephilosophythatcontentisthekingforahigh-levellongvideoplatform,concentrateoureffortsonthecreationofcontentthatsatisfythedemandsofthetimes,reflectthesocialsentimentandaddresstheconcernsofthepublic,resistthechaoticphenomenonoftheindustrythroughourpracticalactions,andstrivetoguidethenew-roundofinnovationandbuildahigh-quality,soundandsustainableproprietarycontentecosystem.Withrespecttovarietyshows,MangoTVhas26varietyshowproductionteams,andhasestablishedaproductioncenter,andtechnical,directorandphotographic,packagingandothermulti-dimensionalstudios,toprovideprofessionalsupporttocontentproduction;establishedthevarietyshowauthorizationcommittee,toregulatethewhole-coursemanagementofcontentproductionandeffectivelycontrolproductioncosts;madecontinuouseffortstoexploreinnovationmechanismsandincentivemechanismsforcontentproducts,improvetheefficiencyofteamcooperation,fullystimulatethecreativityofcontentteams,andcultivatetheendogenousimpetusforcontentinnovation.Duringthereportperiod,MangoTVreleasedmorethan40varietyshowprograms;ofwhich,“CallMeByFire”,“BravingLife”andotherprogramssalutethefightingspiritofthetimes;“CallMeByFire”hasbecomeanotherhotprogramfollowing“SistersWhoMakeWaves”;“DawanDistrictBrothers”markstheintegrationofHongKongandChineseMainland;“SeeYouAgain”reflectsthesocialrealityfromtheperspectiveof“cooling-offperiodbeforedivorce”introducedbythenewmarriagelaw;and“SistersWhoMakeWaves”,“Who’stheMurderer”,“GreatEscape”,“VivaLaRomance”,“MeetingMr.Right”andotherN-generationproprietaryflagshipvarietyshowprogramshavebecometheevergreenoftheindustry.
WithrespecttofilmsandTVdramas,MangoTVhas29filmandTVdramaproductionteamsand34strategicstudiosunderthe“XinmangProgram”,andhasestablishedthefilmandTVdramaplanningcommittee,responsibleforoverallmanagementofplanning,productionandassessmentofTVdramasandseries,andwhole-coursecontrolovertheassessment,authorization,production,broadcasting,reviewandotheractivities,inordertoeffectivelyimprovethequalityoffilmsandTVdramas,andcompetenciesoftheplatforminthefieldofTVdramasandseries.In2021,MangoTVreleased170filmsandTVdramasintotal,including55keyfilmsandTVdramas,and84microandshortdramasunderthe“BigMangoProgram”.The“MangoMonsoon”theatertakestheleadintheindustryinresistingwaterinjectiondramas,suspendedexpressions,relianceontrafficandtraditionalbroadcastingsystem,promotesthenewpatternoftheindustryandinnovationanddevelopmentofthefilmandTVindustry,andhasreleasedninehigh-qualityinnovativeshortdramas,including“Hunter”,“TheLieDetective”and“RemembranceofThingsPast”.“TheRationalLife”,“UnforgettableLove”,“StandbyMe”,“LoveatNight”,“LoveisBeautiful”,“AsWeWish”andotherkeyfilmsandTVdramashavealsobeenwellreceivedbytheaudiences.Withrespecttomicroandshortdramas,MangoTVhasestablishedthe“BigMangoProgram”tosupporttheproductionofmid-andshort-formvideos.“TheQueenofAttack”,ahotmicroandshortdramaoftheyear,hasbeenwellreceivedbytheaudiencesandviewedmorethan500milliontimes.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
(3)Consolidatethesmartmid-end,gatherthemomentumofdevelopmentandmaintainthesteadygrowthofthecoreInternetvideobusinessMangoTVhasmadecontinuouseffortstobuildabigoperationsystem,andinrelianceontheintegratedsmartmid-endmatrixconsistingofcontentmid-end,technologymid-end,riskcontrolmid-endandoperationmid-end,createdbusinesssynergyinmulti-screenintegration,advertisingmembershipoperationandothercorebusinesssegments,andimprovedthemarketvalueofcontentIPs.MangoTVInternetvideobusinesshasrealizedsteadygrowthofrevenue,andincreaseinmarginrateyearonyear,andconstitutesaneverincreasingproportioninourtotaloperatingrevenue,anditspositionasthecorepillarofthemainplatformbecomesmoreandmoreprominent.
Withrespecttotheadvertisingbusiness,inadditiontoensuringhigh-qualitycontent,weactivelyexplorethenewmarketingmodels,andexploittheadvertisingvalueofprograms.Duringthereportingperiod,wedeveloped118newadvertisers,morethan1,000brandsransoft,hard,programmaticandotheradvertisementsonMangoTV,andourrevenuefromtheadvertisingbusinessexceededRMB5billionforthefirsttime,totalingRMB5.453billion,anincreaseof31.75%yearonyear.Byprovidingone-stopmarketingservices,theamountofsponsorshipfeesreceivedbyourmajorvarietyshowprogramshashitrecordhighsrepeatedly.Theamountofsponsorshipfeesreceivedby“SistersWhoMakeWavesS2”hitrecordhighintheindustry.Theadvertisingandsponsorshipfeesreceivedbyhigh-qualityN-generationproprietaryvarietyshowprogramshavebeenincreasingsteadily.Thecustomizedadvertisementsinsertedinvarietyshowprogramsadoptthemodelof“IP&brandinteraction”,andtherevenuesfromwhichhavegrownsignificantlyforfourconsecutiveyears.WithrespecttoadvertisementsinsertedinTVdramas,weadoptthedifferentialstrategy,anddevelopnewsoftadvertisingproducts,toexpandthechannelsforcooperation.
Withrespecttothemembershipbusiness,MangoTVhasovercometheadverseeffectofrepeatedbreaksofCOVID-19onofflinemembershipoperationsandproductionofimportantprogramsandcontent,andattracted50.4millionactivemembersasoftheendof2021,anincreaseof39.5%ascomparedwith2020.Duringthereportingperiod,ourrevenuefromthemembershipbusinesstotaledRMB3.688billion,anincreaseof13.3%yearonyear.Inviewoftheevolutionofthelongvideoindustryandthecurrentpatternofmarketcompetition,MangoTVhasgraduallyenhancedchannelcooperation,concentrateditseffortsonincreasingthememberconversionrateanduserpenetrationrate,whilemaintainingtheestablishedpracticessuchasaccuratemarketingandusercirclebreak,triedfull-cyclecustomizedoperationforvarietyshowmembers,suchasin“CallMeByFire”,“Who’stheMurderer”andothermajorproprietaryprograms.Whilefullyupgradingthemembershipinterestmatrix,wehaveadjustedthemembershippricessinceJanuary2,2022.
Withrespecttooperatorbusiness,duringthereportingperiod,ourrevenuefromtheoperatorbusinesstotaledRMB2.12billion,anincreaseof27.17%yearonyear.Withrespecttonation-widebusiness,wehaveenteredintoin-depthstrategycooperationwithMiguCulture,asubsidiaryofChinaMobile,inbigscreenbusiness,5Ginnovativebusinessandotherareas,enhancedbusinessdevelopmentinallprovinces,andrealizedin-depthcoverageofcontentbasicpackageandvalue-addedpackage.Withrespecttothebusinessin
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Hunan,wehaverealizedgrowthofbusinessrevenuethrough“offlinepromotion+smartrecommendation+businessinnovation”.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
(4)Optimizeorganizationstructure,gatherdevelopmentforcesandimprovethequalityandefficiencyofoperationDuringthereportingperiod,inordertoimproveinternalbusinesssynergy,andenhancethecorecompetenciesofMangoTVasourmainplatform,wehaveoptimizedourorganizationstructure,byreorganizingMangoStudios,MangoEntertainmentandMangoFunintosubsidiariesofMangoTV,focusingonproductionofprogramsforMonsoontheater,varietyshowcontentinnovationandlocationbasedentertainmentoperationrespectively.Withrespecttotheartistagencybusiness,managementofartistalwaysinsistsonpassingonthemainstreamsocialvaluesandgivingfullscopetothecentralthemes,activelypromotingexecutionandrenewalofcontractswithkeyartists,andformingagroupofnearly100actors,varietyshowperformers,musicians,hostsandotherartistsrepresentedbyHUAChenyu,OUHao,ZHANGXincheng,LISidaniandBAIJugangunderEE-Media,YANGShuo,WANQianandQISijun,amongothersunderHappySunshine.Withrespecttomusiccopyrightbusiness,EE-MediaandHappySunshinehaveestablishedamusiclibrarycomposedofnearly1,700record,film,TVandvarietyshowmusic.Withrespecttomediaretailbusiness,HappigocontinuouslyoptimizesthecoststructureofandexploitskeymarketsforthebigscreenTVshoppingbusiness.Inaddition,“MangoRevitalizationCloudSupermarket”hasbeenupgradedtopromotetheeffectivelinkagebetweenconsolidationofthepovertyalleviationoutcomesandruralrevitalization.
(5)Developnewbusiness,extendindustrychainandcultivatenewpointsofgrowth
Duringthereportingperiod,weconcentratedoureffortsonacceleratingthedevelopmentofShopmangApp,oure-commerceplatformsellinganddistributingnewfashionhome-madegoodsandcontent,andthroughShopmangFlowerCultivationNight,XiaomangNewYear’sShoppingFestivalandotherlargeeveningparties,successfullyrealizedinteractionbyusersbetweenprogramsandtheApp.Duringthereportingperiod,thepeaknumberofdailyactiveusersofShopmangAppreached1.26million.Wehaveactivelydevelopedofflinelocationbasedentertainmentbusiness,onthebasisof“Who’stheMurderer”,“GreatEscape”andotherhigh-qualitycontent,extendedourIPsfromonlinetooffline,andcreatedM-city,awhollynewbrand.Wefocusonbuildingofflinelocationbasedentertainmentcomplex,andestablishandoutputindustrialstandardsinrespectofscriptcreation,copyrightprotection,DMtraining,offlineentityoperation,etc.
(6)Focusoninnovationincontentproductpatternsandpromotein-depthintegrationofcultureandtechnology
Wefocusoninnovationincontentproductpatternsbyusingtechnologies,andactivelyexplorewhollynewapproachesofintegrationofcultureandtechnology.The“Guangmang”cloudproductionandbroadcastingplatformindependentlydevelopedbyusintegrates“interview,editionandbroadcasting”,and“Guangmang”ultraHDcloudproductionandbroadcastingtechnologywasnamedasa“NationalTypicalCaseofIntegrationofRadio,TVandMedia”.Wesuccessfullyapplied5GandVRproductionandbroadcastingtechnologiesintheFamilyOutingNightof“CallMeByFire”,andcreatedthemostcomplicatedapplicationofnewtechnologiesbylongvideovarietyshowplatforms.WecontinuouslyfollowAR,VR,XRandotherfrontiertechnologies,andhavemadeseriesofachievementsofinnovation,includingwithoutlimitationvirtualhost,interactivevideoplatform,IMGOultraHDvidereparationandaugmentationplatform,Internet4KultraHDproductionandbroadcastingplatform,and3Dvideocontentrealityaugmentationsystem.
2.Revenueandcost
(1)Componentsofoperatingrevenue
Overallsituationofoperatingrevenue
InRMB
| 2021 | 2020 | Y/Y%change | |||
| Amount | Proportiontooperatingrevenue | Amount | Proportiontooperatingrevenue | ||
| Totaloperatingrevenue | 15,355,863,482.07 | 100% | 14,005,534,955.36 | 100% | 9.64% |
| Bysegment | |||||
| MangoTVInternetvideobusiness | 11,261,249,957.21 | 73.33% | 9,060,568,867.27 | 64.69% | 24.29% |
| Newmediainteractiveentertainmentcontentproductionand | 1,877,457,854.82 | 12.23% | 2,764,980,756.83 | 19.74% | -32.10% |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| operation | |||||
| ContentE-business | 2,157,213,530.01 | 14.05% | 2,104,532,724.46 | 15.03% | 2.50% |
| Othermainbusiness | 39,485,705.99 | 0.26% | 61,533,468.52 | 0.44% | -35.83% |
| Revenuefromotherbusiness | 20,456,434.04 | 0.13% | 13,919,138.28 | 0.10% | 46.97% |
| Byproduct | |||||
| MangoTVInternetvideobusiness | 11,261,249,957.21 | 73.33% | 9,060,568,867.27 | 64.69% | 24.29% |
| Newmediainteractiveentertainmentcontentproductionandoperation | 1,877,457,854.82 | 12.23% | 2,764,980,756.83 | 19.74% | -32.10% |
| ContentE-business | 2,157,213,530.01 | 14.05% | 2,104,532,724.46 | 15.03% | 2.50% |
| Othermainbusiness | 39,485,705.99 | 0.26% | 61,533,468.52 | 0.44% | -35.83% |
| Revenuefromotherbusiness | 20,456,434.04 | 0.13% | 13,919,138.28 | 0.10% | 46.97% |
| Byregion | |||||
| Hunan | 4,224,776,693.61 | 27.51% | 4,513,906,434.72 | 32.23% | -6.41% |
| OutsideHunan | 11,131,086,788.46 | 72.49% | 9,491,628,520.64 | 67.77% | 17.27% |
| Bysalesmodel | |||||
| Sale | 15,355,863,482.07 | 100.00% | 14,005,534,955.36 | 100.00% | 9.64% |
(2)Segments,products,regionsorsalesmodelsrepresentingmorethan10%of
operatingrevenueorprofit
√Applicable□N/A
InRMB
| Operatingrevenue | Operatingcost | Grossmargin | Y/Y%changeinoperatingrevenue | Y/Y%changeinoperatingcost | Y/Y%changeingrossmargin | |
| Bysegment | ||||||
| MangoTVInternetvideobusiness | 11,261,249,957.21 | 6,350,577,826.34 | 43.61% | 24.29% | 18.17% | 2.92% |
| Newmediainteractiveentertainmentcontentproduction | 1,877,457,854.82 | 1,556,685,395.67 | 17.09% | -32.10% | -27.49 | -5.26% |
| ContentE-business | 2,157,213,530.01 | 1,968,834,667.67 | 8.73% | 2.50% | 17.45% | -11.61% |
| Others | 59,942,140.03 | 29,364,881.14 | 51.01% | -20.56% | -11.32% | -5.10% |
| Byproduct | ||||||
| MangoTVInternetvideobusiness | 11,261,249,957.21 | 6,350,577,826.34 | 43.61% | 24.29% | 18.17% | 2.92% |
| Newmediainteractive | 1,877,457,854.82 | 1,556,685,395.67 | 17.09% | -32.10% | -27.49% | -5.26% |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| entertainmentcontentproduction | ||||||
| ContentE-business | 2,157,213,530.01 | 1,968,834,667.67 | 8.73% | 2.50% | 17.45% | -11.61% |
| Others | 59,942,140.03 | 29,364,881.14 | 51.01% | -20.56% | -11.32% | -5.10% |
| Byregion | ||||||
| Hunan | 4,224,776,693.61 | 2,679,793,836.19 | 36.57% | -6.41% | -12.98% | 4.13% |
| OutsideHunan | 11,131,086,788.46 | 7,225,668,934.63 | 35.09% | 17.27% | 16.91% | 0.21% |
| Bysalesmodel | ||||||
| Sale | 15,355,863,482.07 | 9,905,462,770.82 | 35.49% | 9.64% | 7.31% | 1.39% |
Incaseofanyadjustmenttothestatisticscaleformainbusinessdata,themainbusinessdataofthemostrecentreportingperiodasadjustedaccordingtothestatisticscaleappliedattheendofthecurrentreportingperiod:
□Applicable√N/A
(3)WhethertheCompany’srevenuefromsaleoftangiblegoodsishigherthanthe
revenuefromlaborservice?
□Yes√No
(4)PerformanceofmaterialsalescontractsoftheCompanyasoftheendofthe
reportingperiod
□Applicable√N/A
(5)Componentsofoperatingcost
Classificationofsegmentsandproducts:
InRMB
| Segment | Item | 2021 | 2020 | Y/Y%change | ||
| Amount | Proportiontooperatingrevenue | Amount | Proportiontooperatingrevenue | |||
| MangoTVInternetvideobusiness | Internetvideobusiness | 5,929,892,854.51 | 59.86% | 4,841,068,825.32 | 52.45% | 22.49% |
| MangoTVInternetvideobusiness | Operatorbusiness | 420,684,971.83 | 4.25% | 532,836,160.11 | 5.77% | -21.05% |
| Newmediainteractiveentertainmentcontentproduction | Copyrightandproductioncosts | 1,402,186,406.77 | 14.16% | 1,980,661,842.66 | 21.45% | -29.21% |
| Newmediainteractiveentertainmentcontentproduction | Employeebenefitsandothers | 154,498,988.90 | 1.56% | 166,826,921.86 | 1.81% | -7.39% |
| ContentE-business | ContentE-business | 1,968,834,667.67 | 19.88% | 1,676,380,697.52 | 18.16% | 17.45% |
| Othermainbusiness | Othermainbusiness | 20,199,308.10 | 0.20% | 26,844,714.41 | 0.29% | 24.75% |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Costsofotherbusiness | Costsofotherbusiness | 9,165,573.04 | 0.09% | 6,269,482.56 | 0.07% | 46.19% |
InRMB
| Product | Item | 2021 | 2020 | Y/Y%change | ||
| Amount | Proportiontooperatingrevenue | Amount | Proportiontooperatingrevenue | |||
| MangoTVInternetvideobusiness | Internetvideobusiness | 5,929,892,854.51 | 59.86% | 4,841,068,825.32 | 52.45% | 22.49% |
| MangoTVInternetvideobusiness | Operatorbusiness | 420,684,971.83 | 4.25% | 532,836,160.11 | 5.77% | -21.05% |
| Newmediainteractiveentertainmentcontentproduction | Copyrightandproductioncosts | 1,402,186,406.77 | 14.16% | 1,980,661,842.66 | 21.45% | -29.21% |
| Newmediainteractiveentertainmentcontentproduction | Employeebenefitsandothers | 154,498,988.90 | 1.56% | 166,826,921.86 | 1.81% | -7.39% |
| ContentE-business | ContentE-business | 1,968,834,667.67 | 19.88% | 1,676,380,697.52 | 18.16% | 17.45% |
| Othermainbusiness | Othermainbusiness | 20,199,308.10 | 0.20% | 26,844,714.41 | 0.29% | 24.75% |
| Costsofotherbusiness | Costsofotherbusiness | 9,165,573.04 | 0.09% | 6,269,482.56 | 0.07% | 46.19% |
Analysis:
None.
(6)Changesinthescopeofconsolidationduringthereportingperiod
√Yes□NoDuringthereportingperiod,weestablishedHainanEE-MediaCo.,Ltd.andShanghaiMangoUniverseCulture&EntertainmentCo.,Ltd.,deregisteredHappigo(Beijing)NewMediaTechnologyCo.,Ltd.andHangzhouHemeiInteractiveEntertainmentTechnologyCo.,Ltd.,transferred100%sharesofHunanHappyMoneyMicrofinanceCo.,Ltd.,andacquired100%sharesofShenzhenZhongheBoaoTechnologyDevelopmentCo.,Ltd.Referto“SectionXFinancialReport–VIII.Changesinthescopeofconsolidation”.
(7)Materialchangesoradjustmentsinrespectofbusiness,productsorservicesofthe
Companyduringthereportingperiod
□Applicable√N/A
(8)Majorcustomersandsuppliers
MajorcustomersoftheCompany:
| Aggregatesalesrevenuefromtop5customers(RMB) | 6,081,156,735.70 |
| Proportionofaggregatesalesrevenuefromtop5customerstoannualsalesrevenue | 39.60% |
| Proportionofaggregatesalesrevenuefromrelatedpartiesamongtop5customerstoannualsalesrevenue | 32.17% |
Particularsoftop5customers:
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| No. | Nameofcustomer | Salesrevenue(RMB) | Proportiontoannualsalesrevenue |
| 1 | Customer1 | 3,289,290,336.88 | 21.42% |
| 2 | Customer2 | 1,650,532,231.02 | 10.75% |
| 3 | Customer3 | 640,648,113.21 | 4.17% |
| 4 | Customer4 | 333,268,244.86 | 2.17% |
| 5 | Customer5 | 167,417,809.73 | 1.09% |
| Total | -- | 6,081,156,735.70 | 39.60% |
Otherinformationofmajorcustomers:
√Applicable□N/AThesalesrevenuefromthelargestcustomerreflectstheaggregatesalesrevenuefromouractualcontrollerHBCanditscontrolledsubsidiaries,andthesalesrevenuefromthesecondlargestcustomerreflectstheaggregatesalesrevenuefromouraffiliateMiguCultureTechnologyCo.,Ltd.anditscontrolledsubsidiaries.MajorsuppliersoftheCompany:
| Aggregatepurchaseamountfromtop5suppliers(RMB) | 1,977,207,514.01 |
| Proportionofaggregatepurchaseamountfromtop5supplierstoannualpurchasecost | 19.96% |
| Proportionofaggregatepurchaseamountfromrelatedpartiesamongtop5supplierstoannualpurchasecost | 11.43% |
Particularsoftop5customers:
| No. | Nameofsupplier | Purchaseamount(RMB) | Proportiontoannualpurchasecost |
| 1 | Supplier1 | 1,132,617,166.53 | 11.43% |
| 2 | Supplier2 | 231,132,075.47 | 2.33% |
| 3 | Supplier3 | 224,236,501.26 | 2.26% |
| 4 | Supplier4 | 209,519,697.66 | 2.12% |
| 5 | Supplier5 | 179,702,073.09 | 1.82% |
| Total | -- | 1,977,207,514.01 | 19.96% |
Otherinformationofmajorsuppliers:
√Applicable□N/AThepurchaseamountfromthelargestsupplierreflectstheaggregatepurchaseamountfromouractualcontrollerHBCanditscontrolledsubsidiaries
3.Expenses
InRMB
| 2021 | 2020 | Y/Y%change | Explanationforsignificantchanges | |
| Sellingexpenses | 2,469,328,212.64 | 2,164,415,269.87 | 14.09% | Primarilyduetoanincreaseinbusinessmarketingandchanneldevelopmentexpenses |
| Administrativeexpenses | 695,934,611.78 | 629,200,722.73 | 10.61% | Primarilyduetoanincreaseinexpensesinconnectionwithhumanresourcesanddepreciation |
| Financialexpenses | -101,210,337.17 | -86,619,854.07 | 16.84% | Primarilyduetoanincreaseininterestincome |
| R&Dexpenses | 271,991,403.40 | 184,384,948.72 | 47.51% | PrimarilyduetoanincreaseinthefundingforR&DprojectsandsalariesofR&Dpersonnel |
4.R&Dexpenses
MangoExcellentMediaCo.,Ltd.AnnualReport2021
√Applicable□N/A
| DescriptionofmajorR&Dproject | Purpose | Progress | Objectives | ExpectedeffectonthefuturedevelopmentofCompany |
| MangoTVcloudstorageandmulti-screenbroadcastingplatformproject | Useproprietarytechnologiestobuildedgecloudcomputingplatform,mediaconvergenceplatform,cloudproductionplatform,smartaudio&videocloudandothersystems,andcreateacloudstorageandmulti-screenbroadcastingplatformleadinginthecountry. | Constructionofsystemssuchascloudstoragesystem,clouddistributionsystem,cloudP2Psystem,cloudtranscodingsystemandclouddataanalysissystemhasbeencompleted. | Theplatformwillactasacoretechnologyplatformforviewingvideos,belinkedwiththeMangoTVvideoproductionsystemhavinghugemediaresourcesontheupstream，andwithPC,mobile,InternetTVandotherbroadcastingterminalsonthedownstream,helpMangoTVrealizestorageofhugevideoresources,distributiontosubscribersthroughnearbynodesandextremelyfastviewanddownloading. | Theprojectwillimprovesubscribers’viewingexperienceontheplatform,reducetheoperatingcostsoftheplatform,andhelpusmaintainourcorecompetenciesinthefuture. |
| Smartlymanagedbroadcastingandcontrolsystem | ThesmartlymanagedbroadcastingandcontrolsystemisakeyprojectofMangoTVforensuringsecurelivebroadcastandimprovingimagequality,andisdesignedtobuildanIPbroadcastingandcontrolplatformusingvirtual,SNDandothernext-generationtechnologiesunderthedevelopmentstrategyofintegrationandintelligentizationofradio,TVandmedia. | Therelatedinfrastructurehasbeenimproved;andlivetranscoding,signalsource,monitoring,network,datacollectionandanalysisandotherbasicresourceshavebeenconsolidatedandwouldbefullybackedup. | “1.ToimplementtherequirementsoftheNationalRadioandTVAdministration,build1:1backupsystemforsignalsourcereception,livetranscodingandbroadcastroutingwithfullcoverage.2.Toestablishstandarddatainterfaces,ontheprincipleofsecurebroadcastandstandardoperationandmaintenance,usethesmartlymanagedbroadcastingandcontrolsystemtoimprovethesecurityperformanceandimagequalityofMangoTVbroadcastsystem,andenableittocopewiththerequirementsforthedevelopmentofconvergencemediainallrespectsatpresentandinthefuture.” | Theproductfullysupportssignalsourcereception,livebroadcast,broadcastmonitoring,faultalertandlocationandemergencyresponseforIPTVinHunan,andprovidesdataanalysisandlogicaldisplaycapabilities,anddatasystemsupportforscientificbroadcastmanagement.Thenewdistributedbroadcastandcontrolmodelwithdatalinklogicaldisplay+accuratefaultlocationdevelopedindependentlywillbetheimportanttoolforimprovingthestablenessoflivebroadcastofMangoTV. |
ParticularsofR&Dpersonnel:
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| 2021 | 2020 | Y/Y%change | |
| NumberofR&Dpersonnel | 595 | 622 | -4.34% |
| ProportionofR&Dpersonneltototalnumberofemployees | 14.79% | 13.91% | 0.88% |
| EducationbackgroundofR&Dpersonnel | |||
| Undergraduates | 439 | 458 | -4.15% |
| Masters | 100 | 102 | -1.96% |
| Others | 56 | 62 | -9.68% |
| AgesofR&Dpersonnel | - | - | - |
| Below30 | 155 | 168 | -7.74% |
| 30-40 | 415 | 426 | -2.58% |
| Others | 25 | 28 | -10.71% |
AmountofR&DexpensesandproportionofR&Dexpensestooperatingrevenueinthepastthreeyears:
| 2021 | 2020 | Y/Y%change | |
| AmountofR&Dexpenses(RMB) | 369,361,905.14 | 319,282,521.92 | 280,287,866.02 |
| ProportionofR&Dexpensestooperatingrevenue | 2.41% | 2.28% | 2.24% |
| AmountofR&Dexpensescapitalized(RMB) | 97,370,501.74 | 134,897,573.20 | 40,988,534.16 |
| ProportionofcapitalizedR&DexpensestototalR&Dexpenses | 26.36% | 42.25% | 14.62% |
| ProportionofR&Dexpensescapitalizedtothenetprofitofthecurrentperiod | 4.60% | 6.82% | 3.54% |
AnalysisofthecauseandeffectofsignificantchangeinthecompositionofR&Dpersonnel:
√Applicable□N/ABecauseHappyMoneywasexcludedfromourscopeofconsolidation,itsR&DpersonnelwerenolongerincludedinthenumberofR&Dpersonnelin2021.AnalysisofthecauseofsignificantchangeintheproportionofR&Dexpensestooperatingrevenuecomparedwiththeprecedingyear:
□Applicable√N/AAnalysisofthecauseandreasonablenessofsignificantchangeintheproportionofR&Dexpensescapitalized:
□Applicable√N/A
5.Cashflows
InRMB
| Item | 2021 | 2020 | Y/Y%change |
| Cashprovidedbyoperatingactivities | 14,948,148,074.05 | 13,357,032,896.39 | 11.91% |
| Cashusedinoperatingactivities | 14,386,347,191.68 | 12,776,062,543.31 | 12.60% |
| Newcashflowsfromoperatingactivities | 561,800,882.37 | 580,970,353.08 | -3.30% |
| Cashprovidedbyinvestmentactivities | 5,738,565,482.92 | 886,489,234.84 | 547.34% |
| Cashusedininvestmentactivities | 8,931,089,507.90 | 692,459,021.89 | 1,189.76% |
| Netcashflowsfrominvestmentactivities | -3,192,524,024.98 | 194,030,212.95 | -1,745.37% |
| Cashprovidedbyfinancingactivities | 4,566,523,925.07 | 160,436,700.00 | 2,746.31% |
| Cashusedinfinancingactivities | 339,498,633.27 | 662,272,824.91 | -48.74% |
| Netcashflowsfromfinancingactivities | 4,227,025,291.80 | -501,836,124.91 |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Netincreaseincashandcashequivalents | 1,596,914,430.17 | 273,387,984.85 | 484.12% |
Analysisofthemaincausesofsignificantchangesintherelevantdata:
√Applicable□N/AThecashprovidedbyinvestingactivitiesincreasedby547.34%,cashusedininvestmentactivitiesincreasedby1,189.76%,andnewcashflowsfrominvestmentactivitiesdecreasedby1,745.37%,primarilyduetouseofofferingproceedsasscheduled,andpurchaseofstructuredbankdepositswithunusedofferingproceeds.Thecashprovidedbyfinancingactivitiesincreasedby2,746.31%,primarilyduetoreceiptoftheofferingproceedsofRMB4.487billion.Thecashusedinfinancingactivitiesdecreasedby48.74%,primarilyduetorepaymentofloansofprioryearsintheprecedingyear,andadecreaseincashusedforrepayingdebtsinthecurrentyear.ThenetcashflowsfromfinancingactivitiesinthecurrentperiodwasRMB4,227,025,300,ascomparedwith-RMB501,836,100intheprecedingperiod,primarilyduetoreceiptoftheofferingproceeds.Thenetincreaseincashandcashequivalentsincreasedby484.12%,primarilyduetoreceiptoftheofferingproceedsofRMB4.487billionandcashprovidedbyoperatingactivities.Analysisofthesignificantdifferencebetweennetcashflowsfromoperatingactivitiesduringthereportingperiodandnetprofitincurrentyear:
√Applicable□N/APrimarilyduetoourstrategicinvestmentincopyrightpoolandShopmange-commerceduringthereportingperiod.
V.Analysisofnon-mainbusiness
√Applicable□N/A
InRMB
| Amount | Proportiontototalprofit | Mainsource | Whetherornotsustainable | |
| Investmentincome | 37,229,498.93 | 1.76% | Incomeonbankwealthmanagementproducts | No |
| Impairmentlossonassets | -112,008,261.59 | -5.30% | Impairmentlossoninventoriesandaccountsreceivable | No |
| Non-operatingrevenue | 21,850,496.77 | 1.03% | Incomefromrightsprotectionactions | No |
| Non-operatingexpenses | 43,300,269.96 | 2.05% | Expensesinconnectionwithindemnity,epidemicsanddonations | No |
VI.Analysisofassetsandliabilities
1.Materialchangesinthecomponentsofassets
InRMB
| Endof2021 | Beginningof2021 | Y/Y%change | Reasonofsignificantchange | |||
| Amount | Proportiontototalassets | Amount | Proportiontototalassets | |||
| Monetarycapital | 6,974,465,151.81 | 26.71% | 5,336,319,786.70 | 27.39% | -0.68% | PrimarilyduetoreceiptoftheprivateofferingproceedsofRMB4.487billioninthe |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| reportingperiod | ||||||
| Accountsreceivable | 3,113,742,914.88 | 11.93% | 2,976,696,672.95 | 15.28% | -3.35% | |
| Contractassets | 903,053,743.61 | 3.46% | 817,451,396.56 | 4.20% | -0.74% | |
| Inventories | 1,689,546,700.79 | 6.47% | 1,660,324,608.09 | 8.52% | -2.05% | |
| Long-termequityinvestment | 23,882,517.37 | 0.09% | 22,882,969.51 | 0.12% | -0.03% | |
| Fixedassets | 184,450,336.98 | 0.71% | 186,924,296.25 | 0.96% | -0.25% | |
| Rightofuseassets | 210,304,495.42 | 0.81% | 217,783,996.12 | 1.12% | -0.31% | |
| Short-termborrowings | 39,786,903.37 | 0.15% | 39,789,110.68 | 0.20% | -0.05% | |
| Contractliabilities | 1,327,294,063.85 | 5.08% | 1,330,475,023.10 | 6.83% | -1.75% | |
| Leaseliabilities | 169,643,622.50 | 0.65% | 168,778,053.34 | 0.87% | -0.22% |
Analysisofhighproportionofoverseasassets:
□Applicable√N/A
2.Assetsandliabilitiesatfairvalue
□Applicable√N/A
InRMB
| Item | Beginningbalance | Gainorlossonchangesinfairvalue | Aggregatechangesinfairvaluerecordedinequity | Impairmentlossrecognizedinthecurrentperiod | Amountacquiredinthereportingperiod | Amountsoldinthereportingperiod | Otherchanges | Endingbalance |
| Financialassets | ||||||||
| 1.Financialassetsheldfortrading(excludingderivativefinancialassets) | 8,736,000,000.00 | 5,326,000,000.00 | 3,410,000,000.00 | |||||
| Subtotaloffinancialassets | 8,736,000,000.00 | 5,326,000,000.00 | 3,410,000,000.00 | |||||
| Receivablesfinancing | 164,410,000.00 | 26,610,000.00 | 137,800,000.00 | |||||
| Total | 164,410,000.00 | 8,736,000,000.00 | 5,326,000,000.00 | 26,610,000.00 | 3,547,800,000.00 | |||
| Financi | 0.00 | 0.00 | ||||||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Otherchanges:
Otherchangesofreceivablesfinancingmainlyrefertochangesofendorsementofacceptancebillormaturityacceptance.Whetherthere’sanymaterialchangeinthemeasurementpropertiesofmainassetsoftheCompanyduringthereportingperiod?□Yes√No
3.EncumbrancesonassetsasoftheendofthereportingperiodAsoftheendofthereportingperiod,thetotalamountofrestrictedassetswasRMB273,835,200,includingcapitalsofRMB61,822,000frozeninlitigations,third-partyplatformdepositRMB1,220,200,andPOSdepositRMB5,000;endorsedcommercialbillundueRMB210,748,000.VII.Analysisofinvestments
1.Overallsituation
√Applicable□N/A
alliabilities
Amountofinvestmentin2021
(RMB)
| Amountofinvestmentin2021(RMB) | Amountofinvestmentin2020(RMB) | Y/Y%change |
| 43,523,517.70 | 60,000,000.00 | -27.46% |
2.Majorequityinvestmentsacquiredduringthereportingperiod
□Applicable√N/A
3.Majornon-equityinvestmentthathavenotyetbeencompletedinthereportingperiod
□Applicable√N/A
4.Financialassetsatfairvalue
√Applicable□N/A
InRMB
| Typeofassets | Initialcostofinvestment | Gainorlossonchangesinfairvalue | Aggregatechangesinfairvaluerecordedinequity | Amountacquiredinthereportingperiod | Amountsoldinthereportingperiod | Aggregateinvestmentincome | Endingbalance | Sourceoffunds |
| Financialderivatives | 8,736,000,000.00 | 8,736,000,000.00 | 5,326,000,000.00 | 34,265,617.23 | 3,410,000,000.00 | Purchaseofstructuredbankdepositswithownedfundsandofferingproceeds | ||
| Total | 8,736,000,000.00 | 0.00 | 0.00 | 8,736,000,000.00 | 5,326,000,000.00 | 34,265,617.23 | 3,410,000,000.00 | - |
5.Useofofferingproceeds
MangoExcellentMediaCo.,Ltd.AnnualReport2021
√Applicable□N/A
(1)Descriptionofuseofofferingproceeds
√Applicable□N/A
InRMB0’000
| Yearofoffering | Methodofoffering | Totalofferingproceeds | Totalamountofofferingproceedsusedinthereportingperiod | Aggregateamountofofferingproceedsalreadyused | Totalamountofofferingproceedsthepurposeofwhichwaschangedinthereportingperiod | Aggregateamountofofferingproceedsthepurposeofwhichhasbeenchanged | Percentageofofferingproceedsthepurposeofwhichhasbeenchanged | Totalamountofunusedofferingproceeds | Purposeandwhereaboutsofunusedofferingproceeds | Totalamountofofferingproceedsthathasremainedunusedformorethantwoyears |
| 2019 | Privateshareoffering | 198,270.07 | 4,176.44 | 98,827.45 | 0 | 0 | 0.00% | 99,442.62 | Depositedinthespecialaccountofofferingproceeds | 99,442.62 |
| 2021 | Shareofferingtospecificpersons | 448,579.21 | 108,727.65 | 108,727.65 | 0 | 0 | 0.00% | 339,851.56 | Depositedinthespecialaccountofofferingproceeds,andpurchasecashmanagementproducts | 0 |
| Total | -- | 646,849.28 | 112,904.09 | 207,555.1 | 0 | 0 | 0.00% | 439,294.18 | -- | 99,442.62 |
| Descriptionofuseofofferingproceeds | ||||||||||
| Duringthereportingperiod,thetotalamountofofferingproceedsusedbyuswasRMB1,129,040,900.AsofDecember31,2021duringthereportingperiod,theaggregate | ||||||||||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
(2)Committedfund-raisinginvestmentprojects
√Applicable□N/A
InRMB0’000
amountofofferingproceedsusedbyuswasRMB2,075,551,000.ThebalanceofthespecialaccountofofferingproceedswasRMB2,224,720,100,includingRMB2,132,941,800ofprincipalandRMB91,778,300ofinterestincome.WehaveusedRMB2,260,000,000ofunusedofferingproceedstopurchasecashmanagementproducts.Committedinvestmentprojectanduseofover-raisedfunds
| Committedinvestmentprojectanduseofover-raisedfunds | Whethertheprojecthasbeenchangedorpartiallychanged | Totalcommittedinvestmentamount | Totalinvestmentamountasadjusted(1) | Amountinvestedinthereportingperiod | Aggregateamountalreadyinvestedasoftheendofthereportingperiod(2) | Progressofinvestmentasoftheendofthereportingperiod(3)=(2)/(1) | Datethattheprojectisreadyforitsintendeduse | Incomeearnedinthereportingperiod | Aggregateincomeasoftheendofthereportingperiod | Whethertheprojecthasproducedthedesiredresult | Whetherthere’sanysignificantchangeinthefeasibilityoftheproject |
| Committedinvestmentproject | |||||||||||
| 1.MangoTVcopyrightpoolexpansionproject | No | 148,674 | 148,674 | 2,600 | 86,150 | 57.95% | -4,723.48 | 17,115.99 | N/A | No | |
| 2.MangoTVcloudstorageandmulti-screenbroadcastplatformproject | No | 49,558 | 49,558 | 1,576.44 | 12,677.45Note1 | 25.58% | Note2 | N/A | No | ||
| 1.Contentresourcepoolexpansionproject | No | 398,587.78 | 398,587.78 | 108,727.65 | 108,727.65 | 27.28% | 108,853.3 | 108,853.3 | N/A | No | |
| 2.MangoTVsmartaudio&videomediaserviceplatformproject | No | 49,991.43 | 49,991.43 | 0 | 0 | 0.00% | Note3 | N/A | No | ||
| Subtotal | -- | 646,811.21 | 646,811.21 | 112,904.09 | 207,555.1 | -- | -- | 104,129.82 | 125,969.29 | -- | -- |
| Useofover-raisedfunds | |||||||||||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| None | |||||||||||
| Total | -- | 646,811.21 | 646,811.21 | 112,904.09 | 207,555.1 | -- | -- | 104,129.82 | 125,969.29 | -- | -- |
| Failuretomeetthescheduledprogressandproducethedesiredresultandreasonthereof(pleasedescribeonaprojectbyprojectbasis) | MangoTVcloudstorageandmulti-screenbroadcastplatformproject:Theprojectwasplannedforin2017andimplementedin2019afterreceiptoftherelevantofferingproceeds.Duringtheprocedureofimplementation,themarketandtechnicalenvironmentoftheindustryalsochangedtocertaindegreewithinthesetwoyears.Therefore,afterreceiptoftherelevantofferingproceeds,weadjustedthefunduseplanbyextendingthefunduseperiodto2021,resultinginthedifferencebetweenthefunduseprogressandoriginaluseplaninthereportingperiod.ThefunduseplaninrespectofMangoTVcloudstorageandmulti-screenbroadcastplatformprojectwasadjustedpursuanttotheProposalforAdjustingtheFundUsePlaninRespectofCertainFund-raisingInvestmentProjectadoptedbythe29thsessionofthe3rdBoardofDirectorsoftheCompanyonApril23,2020,andfurtheradjustedpursuanttotheProposalforAdjustingtheFundUsePlaninRespectofCertainFund-raisingInvestmentProjectadoptedbythe35thsessionofthe3rdBoardofDirectorsonJanuary26,2021. | ||||||||||
| Reasonofsignificantchangeinthefeasibilityoftheproject | None | ||||||||||
| Amountanduseofover-raisedfundsandprogressofusethereof | N/A | ||||||||||
| Changeintheplaceofthefund-raisinginvestmentproject | N/A | ||||||||||
| Adjustmentofthemethodofimplementationofthefund-raisinginvestmentproject | Applicable | ||||||||||
| Occurredinthereportingperiod. | |||||||||||
| MangoTVcopyrightpoolexpansionproject:AsofDecember31,2020,wepurchasedandreleasedonHunanTV5keyTVseriesasscheduled.Theprogressofinvestmentanddevelopmentmeetexpectations.Theamountofactualinvestmentbeinglowerthantheplannedamountofinvestmentwasprimarilyduetochangesinindustrypolicies,asaresultofwhichthepricesforcontentcopyrighthavereturnedtothereasonablelevel,sothepriceforTVseriesperpartactuallypaidbyuswaslowerthantheestimatedamount.OnNovember28,2021andDecember21,2021,theCompanyheldthe7thsessionofthe4thBoardofDirectorsandthe2ndextraordinaryshareholders’meetingrespectively,consideringandapprovingTheProposalforAdjustingtheMethodofImplementationandFundUsePlaninRespectofCertainFund-raisingInvestmentProject,pursuanttowhichthemethodofimplementationandfunduseplaninrespectoftheMangoTVcopyrightpool | |||||||||||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| expansionprojectwereadjusted,andremainingofferingproceedswereusedtopurchaseexclusiveInternetcopyrightofteleplays. | |
| Fundspre-investedintheinvestmentprojectandreplacementthereof | Applicable |
| OnSeptember23,2021,the5thsessionofthe4thBoardofDirectorsandthe4thsessionofthe4thBoardofSupervisorsconsideredandadoptedtheProposalforReplacingtheFundsPre-investedintheFund-RaisingInvestmentProjectandSelf-raisedFundsUsedtoPayPartoftheOfferingCostswiththeOfferingProceeds,approvingthereplacementofthefundspre-investedintheinvestmentprojectintheamountofRMB703,945,533.67andself-raisedfundsusedtopaypartoftheofferingcostsintheamountofRMB475,471.70(exclusiveoftax)withtheofferingproceeds,totalingRMB704,421,025.37.TheindependentdirectorsandtheBoardofSupervisorsoftheCompanyapprovedsuchproposal.ThereplacementhasbeencompletedasofDecember31,2021.OnSeptember23,2021,the5thsessionofthe4thBoardofDirectorsandthe4thsessionofthe4thBoardofSupervisorsconsideredandadoptedtheProposalRegardingPaymentbytheWholly-ownedSubsidiaryofFundsInvestedintheFund-RaisingInvestmentProjectwithBanker’sAcceptanceBillsandReplacementoftheSamewiththeOfferingProceeds,approvingthepaymentbyHappySunshine,ourwholly-ownedsubsidiary,ofamountsinconnectionwiththefund-raisinginvestmentprojectwithbanker’sacceptancebills(includingissuanceandendorsementofbanker’sacceptancebills,thesamebelow)duringtheperiodoffundraisingforsuchinvestmentprojectthroughshareofferingtospecificpersons,andreplacementofthesamewiththeofferingproceedsbytransferringtheamountactuallypaidfromthespecialaccountofofferingproceedstotheaccountofownedfundsoftheCompany.TheindependentdirectorsandtheBoardofSupervisorsoftheCompanyapprovedsuchproposal. | |
| Temporaryreplenishmentofworkingcapitalwiththeunusedofferingproceeds | N/A |
| Amountofunusedofferingproceedsandreasonthereof | N/A |
| Purposeandwhereaboutsofunusedofferingproceeds | Duringthereportingperiod,weusedRMB2,260,000,000ofunusedofferingproceedstopurchasecashmanagementproducts,anddepositedthebalanceoftheunusedofferingproceedsinthespecialaccountofofferingproceeds. |
| Problemsandothermattersexistingintheuseanddiscloseofofferingproceeds | None |
Notes:1.TheplanningforMangoTVcloudstorageandmulti-screenbroadcastplatformprojectwascompletedin2017,anditsimplementationwascommencedafterraisingsupportingfundsin2019;theprojectconstructionwasalmostcompletedin2021.OnApril21,2022,the8
thsessionofthe4
th
BoardofDirectorsandthe7
th
sessionofthe4
th
BoardofSupervisorsconsideredandadoptedProposalonTerminationofCloudStorageandMulti-ScreenBroadcastPlatformProjectandApplyingSavedOfferingProceedingtoEternally
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SupplementWorkingCapitals,proposingtoapplyofferingproceedssavedfromthisprojectRMB388,899,100(includinginterestincomes,andfinalamountissubjecttobalanceofinterest-bearingbankaccountatthedateoffundtransfer)toeternallysupplementworkingcapitals;independentdirectorsexpressedindependentopinionsofagreeingwithit.ThismattershallbesubmittedtothegeneralmeetingoftheCompanyforconsideration.
2.MangoTVcloudstorageandmulti-screenbroadcastplatformproject:aimingatfullyimprovingusers’experienceofwatchingacrosstheplatform,noeconomicbenefitswillbeyieldeddirectly,soitisimpossibletocalculatethebenefitsofsuchprojectseparately.
3.MangoTVsmartaudio&videomediaserviceplatformproject:projectinitiationhasbeencompletedinthefirstquarterof2022,andinvestmentcontinues.Thisprojectaimsatimprovingoverallplatform-levelsolutionsinultraHDvideo,interactivevideoandre-consumablevideoinfuture,acceleratingintegrationofMangoTVinaspectsofresources,technology,services,businessandflow,noeconomicbenefitswillbeyieldeddirectly,soitisimpossibletocalculatethebenefitsofsuchprojectseparately.
(3)Changesinthefund-raisinginvestmentprojects□Applicable√N/ATherehasbeennochangeinthefund-raisinginvestmentprojectsduringthereportingperiod.VIII.Saleofmaterialassetsandequities
1.Saleofmaterialassets
□Applicable√N/ANomaterialassethasbeensoldduringthereportingperiod.
2.Saleofmaterialequities
√Applicable□N/A
| Counterparty | Equitiessold | Dateoftransaction | Transactionprice(RMB0’000) | NetprofitcontributedbysuchequitiestotheListedCompanyfromthebeginningdateofthereportingreporttothedateoftransaction(RMB0’000) | EffectofthesaleontheCompany | RatioofthenetprofitcontributedbythesaleofequitiestotheListedCompanytoitstotalnetprofit | Pricingprinciple | Whetherornotarelated-partytransaction | Affiliationwiththecounterparty | Whethersuchequitieshavebeenfullytransferred | Whetherthetransactionhasbeencompletedasscheduled,andifnot,thereasonandtheactionstakenbytheCompany | Dateofdisclosure | Disclosurereference |
| MangoMediaCo., | 100%shares | May31,2021 | 30,424.97 | 77.07 | Toimprovetheefficiencyof | 0.04% | Appraisedprice | Yes | Parent | Yes | Yes | June25,2021 | AnnouncementontheCompletionof |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Ltd. | ofHappyMoney | resourceallocation,andenableustofocusonourmainbusiness | Transferof100%SharesoftheWhollyOwnedSubsidiarydisclosedonwww.cninfo.com.cn |
IX.Analysisofmajorsubsidiariesandassociates
√Applicable□N/AMajorsubsidiariesandassociatesrepresentingmorethan10%ofthenetprofitoftheCompany:
InRMB
| Companyname | Typeofcompany | Mainbusiness | Registeredcapital | Totalassets | Netassets | Operatingrevenue | Operatingprofit | Netprofit |
| HappySunshine | Subsidiary | Internetvideobusiness,operatorbusinessandcontentoperationbusiness | 242,470,013.00 | 23,570,984,552.88 | 15,055,215,350.00 | 12,950,476,639.62 | 2,104,527,787.90 | 2,082,070,694.11 |
| Happigo | Subsidiary | Mediaretail | 401,000,000.00 | 1,034,734,591.59 | 581,665,920.92 | 1,923,249,732.02 | 18,853,328.73 | 19,838,645.46 |
| EE-Media | Subsidiary | Artistagencybusiness,program,filmandTVdramaproductionbusinessandcopyrightbusiness | 90,000,000.00 | 1,145,327,685.12 | 491,568,431.98 | 534,369,650.50 | 73,599,373.37 | 73,617,020.16 |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Subsidiariesacquiredordisposedofduringthereportingperiod:
√Applicable□N/A
| Companyname | Methodofacquisitionordisposal | Effectonoverallproduction,operationandresults |
| HappyMoney | Sharetransfer | TheoperatingrevenueofHappyMoneywasRMB28.3559millionandthegainorlossondisposalwasRMB770,700onaconsolidatedbasis,sothissharetransferhaslittleeffectonourproduction,operationandresults. |
Particularsofmajorsubsidiariesandassociates:
Duringthereportingperiod,HappySunshine,theoperatingentityofourmainplatformMangoTV,maintainedgrowthofbusiness,anditsoperatingrevenueincreasedby14.93%.Duringthereportingperiod,thenetofferingproceedswasRMB4.487billion,andthetotalassetsofHappySunshineincreasedby40%yearonyear,reflectingfurtherimprovementofourassetquality.
X.StructuredentitiescontrolledbytheCompany
□Applicable√N/A
XI.ProspectsforfuturedevelopmentoftheCompany
(I)ProspectsforfuturedevelopmentTheyear2022isacrucialopportuneyearforMangoExcellentMediatopursuethehigh-qualitydevelopment.Keepinginmindthemissionofthepartymediaandassumingthesocialresponsibilityasthelistedcompany,theboardofdirectorsandthemanagementoftheCompanymaderealeffortsandinnovation,maintainedthemainpositionasthemainforceandstrivedtooptimizeandstrengthenthemainstreamnewmediagroup,soastocelebratethe20thNationalCongressoftheCPCwithpracticalachievements.Belowisabriefdescriptionofourmaintasks:
1.KeepinmindthemissionofthepartymediaandpromotemainstreamvaluecommunicationByupholdingtheleadershipofthePartywithutterloyalty,theCompanycontinuestoenhanceitsmainstreamvalueguidancethroughcontentinnovationandupgrading.In2022,theCompanywilltakeahigherpoliticalpositionandgivefullplaytoitsadvantagesastheintegratedmediatoadvocatethe20thNationalCongressoftheCPCwiththegreatestinvestment,thebestcreativityandthemostenthusiasm,andpromoteXiJinping’ssocialistideologywithChina’scharacteristicsintheneweraaroundthemainthemeofthe20thNationalCongressoftheCPC.Tothisend,theCompanywillplanthethemeworkof“NewGeneration”,andreleasemorethan20documentaryfilmssuchasTheseTenYearsandDaughteroftheParty2andsometeleplayssuchasChina’sLongCourseofHistoryandHutong,presentingthemagnificentpictureofthenewjourneyinthenewerawithsmallpointsandbigpicture.Meanwhile,theCompanywillsingtheChinesevoiceoutloudininternationalcommunicationinthenewera.WewillstrengthenforeigncommunicationbyoptimizingMangoTV’sinternationalAPPandstrivingtocarryoutin-depthcooperationwithcountriesalongtheBeltandRoadwithintheyear,andexpandtheoverseasuserbase,soastobuildabenchmarkplatformforinternationalcommunication.
2.Leverageontheadvantagesoftwoplatformstopursueinnovative,integratedandin-depth
developmentofmediaTheCompanyproactivelyimplementsthestrategyofthePartyCentralCommitteeonacceleratingmedia’sintegrateddevelopmentandutilizestheadvantagesofthetwoplatformofMangoecosystemtopromotetheintegratedandin-depthdevelopmentofmediawithinnovationsinmechanism,paradigmandcontent.In2022,incompliancewiththeregulatoryrequirementsforlistedcompanies,theCompanywillfurtherdevelopthejointmechanismofHunanSatelliteTVandMangoTVplatformsforcontentcollectionandbroadcastingtorealizethein-depthcontentintegrationfromplanning,operationtomanagement,consolidatetheupgradefromcopyright-basedtotalent-based,andestablishanewbenchmarkfortheintegrateddevelopmentofmedia.Onthisbasis,wewillalsoexploremorepathsandmethodsforin-depthintegration,andrealizetheself-evolutionanditerationoftheMangointegrateddevelopmentmodel.
3.Insistoninnovationandleadcontentupgradeintheindustry
Currently,thechangingcreativethemesofthecontentsectorbringnewopportunitiestothelongvideoindustry.TheCompanywillcatertothetrendofcontentinnovationandupgrading,leverageonMango’stalentsandecosystemstrength,adheretothe“people-centered”creationphilosophy,insistonself-breakthrough,catchupwiththetimesandlong-termplanning,soastopursuelong-termcontentinnovationandupgradingandleadthecontentinnovationandupgradingoftheindustry.In2022,theCompanywillmakeeffortsinbothfilmandtelevisionandvarietyshowsforcontentinnovationand
MangoExcellentMediaCo.,Ltd.AnnualReport2021
upgrading.Intermsoffilmandtelevision,theCompanywillfocusonthe“MangoMonsoon”theater,sethigherstandardsandmobilizewidercollaborationtosustainablyproducehigh-qualityproductsthatempathizewiththetimesandboastrefreshedvisualexperience.Intermsofvarietyshows,theCompanywillincreaseinnovationandresearchanddevelopmenteffortsandstrivetolaunchmorethan40%ofinnovativeprograms,soastofurtherconsolidateitsleadingpositioninthevarietyshowsindustry.
4.IncreasestrategicinvestmenttopromotetheiterationandupgradeofemergingbusinessesIn2022,theCompanywillincreasestrategicresourcestopromotestabledevelopmentofemergingbusinesses.XiaomangE-commercewillcontinuetostrengthenitscorepositioningasacontente-commerceplatformfornewtrendydomesticproducts.Takingadvantageofitshigh-qualitycontentIPresourcesonthetwoplatformswithinMangoecosystem,itwilliterateandupgradethe“video+content+e-commerce”modelthroughIPresourcesoperationtoempowernewtrendydomesticproducts.Meanwhile,wewillintroducestrategicshareholderstopushsynergybetweenXiaomangE-commerceandeachbusinesssectoroftheoverallMangoecosphere,andpromotethefasterandbetterdevelopmentofXiaomangE-commerce.Theliveentertainmentbusinesswillexpediteitstransformationfromsettingabenchmarktoexpandingnewstores.
5.Consolidatethemiddleplatformmatrixandexploretheevolutionarytransformationoftechnology
contentIn2022,theCompanywillfurtherimproveandconsolidatethemiddleplatformmatrixinthreeaspectstofurtherenhancetheeffectivenessofresourceintegrationandfacilitateourproductionandoperation.Firstly,wewillfurtherupgradeourcontentmiddleplatformtoimplementmoreinnovativeprojectsandstimulateinternalcontentcreativity.Secondly,wewillstrengthentheriskcontrolandoperationmiddleplatformstomaximizeresourceallocation.Wewillimprovelargeoperationsystemtocultivatestrategicoperationtalents,soastoutilizetheaggregationcapabilitiestomaximizethecontentvalue.Thirdly,inlinewiththetrendofdigitalintelligenceinthecontentindustry,wewillempowerourbusinessdevelopmentwithtechnologymiddleplatformtopromotesymbiosisbetweencultureandtechnology;basedon5GkeylabestablishedunderauthorizationofTheStateAdministrationofRadioFilmandTelevision,promoteR&DandapplicationofNFT,digitalhumanproductionandvirtualcontentproduction&broadcastingtechnology,andexploremetaverse-oriented5G+mediaproductform,technologyapplicationandbusinessmodelinnovation.
6.Focusonteambuildingtostimulatetheinnovativevitalityofyoungtalents
Thehighthresholdlongvideocontentinnovationisdrivenbytalentsessentially.Talentisthemostimportantresourceandacompany’sdevelopmentcannotleavetalents.TheCompanywillfurtheroptimizethetalent-basedinnovationmechanismtoattract,develop,retainandutilizetalents.Wewillfurthersolidifythe“YoungTalentPlan”,promotethe“QingmangInternshipProgram”andexpandthe“MangoYouthTalk”.Wewillalsofocusonteambuildingandinvestinhumancapitaltofurtherconsolidateourcorecompetitivenessandstimulatetheinnovativevitalityofyoungtalents.
7.Improvecorporategovernanceandpromotehigh-qualitydevelopmentoflistedcompanies
In2022,theCompanywillcontinuetoimplementtherelevantrequirementsoftheSecuritiesandFuturesCommissiontocarryoutspecialactionsonthegovernanceoflistedcompanies,andensurethequalitydevelopmentoftheCompanythroughmulti-levelandmulti-dimensionaldevelopmentofcorporategovernancecapacity.Firstly,basedontheself-examinationandself-correctioninthepreviousyear,wewillfurtherstrengthentheinstitutionalizationofthecorporategovernancesystemandupgradethecorporategovernancecapabilityandinternalcontroltoahigherlevel.Secondly,withafocusonhigh-qualityinformationdisclosure,wewillfurtherimprovetheoperationofthemechanismofgeneralmeetingofshareholders,boardofdirectorsandboardofsupervisorsoftheCompany,andenhancetheabilityofdirectors,supervisorsandseniorexecutivestoperformtheirdutiesdiligently,soastobuildalong-termmechanismforthestandardizedoperationoftheCompany.Lastly,wewilldefinethemainresponsibilityofthe“keyminority”,promotetheCompanytoleadinnovationwhileensuringstandardizedoperation,continuouslyimprovetheintrinsicdevelopmentqualityoflistedcompaniesandcreatehighercorporatevalue,thuseffectivelyrewardinginvestors.
8.Practicetheconceptof“protecttheinvestment”andstrengthentheprotectionmechanismforminority
shareholdersAsthecornerstoneofthecapitalmarket,it’sthebattlefieldforinvestorprotectioninlistedcompanies.TheCompanyisobligedtopracticetheconceptof“protecttheinvestment”andprotectminorityinvestors.In2022,theCompanywillfurtherstrengtheninvestorprotectionbyenhancingtherelevanceandeffectivenessofinformationdisclosurebasedoninvestordemands,tofullyprotectinvestors’righttoknow;establishasoundcommunicationmechanismbetweentheboardofdirectorsandinvestorsandimprovethechannelsandwaysforinstitutionalinvestorstoparticipateincorporategovernance;andtaketheinitiativetounderstandthedemandsofminorityinvestorsandcontinuouslyoptimizetheinvestorreturnmechanism.Meanwhile,theCompanywillleverageonitsadvantagesasanewmedia
MangoExcellentMediaCo.,Ltd.AnnualReport2021
platformandrelyontheMangoNewMediaInvestorEducationBasetofurtherstrengthentheeducationforminorityinvestorsthroughdevelopinginvestor-friendlyandhigh-qualityinvestmenteducationprograms,inabidtofurtherimprovetheoperationoftheinvestoreducationbase.(II)Potentialrisksandcountermeasures
1.Riskofmacroeconomicfluctuations
Theculturalandmediaindustryiscloselyrelatedtomacro-economy.Macroeconomicfluctuationswillincreaseuncertaintiesinouroperation:first,changesinmacroeconomicsituationwillaffectthebudgetsofourbusinesscustomers,whichcouldinturnresultingreatfluctuationsinourB2Bbusiness,forexample,duringtherecessionofmacro-economy,businesscustomersmayreducetheiradvertisingbudgets,whichcouldhaveanadverseeffectonouradvertisingbusiness;second,macroeconomicfluctuationswillaffecttherevenuelevelandstructureofourendcustomersandinturnaffectconsumerconfidenceandconsumerpreferences.Therefore,wewillgivefullplaytotheadvantagesofMangosystemwiththejointactionofdoubleplatformsandentireindustrychain,throughcontentinnovationandupgrading,increasethepercentageofhotvarietyshows,filmsandTVdramas,attractmoreendcustomers,strivetoimproveplatformbrands,andprovideadvertiserswithhigh-quality,effective,customizedandintegratedservices,toeffectivelycopewiththeriskofmacroeconomicfluctuations.
2.Policyandregulatoryrisks
Thewholebusinessprocessoftheculturalandmediaindustryinwhichweoperateissubjecttopoliciesandregulations.Thechangesinindustryregulatorypoliciesmaybringuncertaintiesforourbusinessandoperation.Wewillproducecontentinstrictaccordancewiththeapplicableindustryregulatoryandpolicyrequirements,andestablishsoundinternalqualitymanagementandcontrolmechanisms,inordertoavoidrisksassociatedwithpoliciesandregulations.Asamainstreamnewmedia,wewillinsistonourattributesasamedia,rejecttheideaoftrafficfirst,focusontheproductionofhigh-qualitycontent,assumetheresponsibilitytoguidemainstreamsocialvalues,andembracethenewdevelopmentopportunitiesinthecurrentpolicyenvironment.
3.RiskofchangesinindustrycompetitionpatternsThevideoindustryenterstheeraofcompetitionforexistingusers,andwitnesseschangesinmarketrecognition,developmentpatternandunderlyinglogics.Thetraffic-orientedexpansionoftheInternetoperationsisdrawingtoanend,andthenumberofsubscribersandpaidmembersofsomevideoplatformshasstoppedincreasing.Inthecontextofchangesinindustrypattern,asamainstreamnewmedia,wealwayssticktothedevelopmentstrategyoffocusingonhigh-levellongvideos,accuratelycatchthetrendsofthethemesofcreationinthefieldoflongvideos,fulfillthevaluesguidingroleofmedia,emphasizeontheessenceofcontentcreation,andmakebreakthroughsinthecontextofchangesinindustrypatternthroughcontentinnovationandupgrading.
4.Riskofbusinessqualifications
Certainbusinessesofusaresubjecttospecialbusinessqualifications.Ifweareunabletopromptlyreneworobtainnewbusinessqualificationsuponexpirationoftherelevantexistingbusinessqualificationsortocomplywiththeupdatedregulatoryrequirements,ourbusinessdevelopmentmaybeadverselyaffected.Wewillenhancebusinessqualificationmanagementandactivelycommunicatewiththecompetentbusinessqualificationsauthorities,topromptlyrenewbusinessqualificationsuponexpirationthereof.
5.RiskoffilmandTVdramaproduction
(1)RiskoffailureoffilmsandTVdramastopasstherelevantreview.Aftercompletionof
production,aTVdramamustpassthereviewbyandobtainaTVDramaReleasePermitfromtheNationalRadioandTVAdministrationortherelevantprovincialoffice.AfilmorTVdramaproducedbyusmayfailtopassthefilingproceduresandobtainaproductionpermitduetoanyreasonattributabletotheartistsappearingthereinorotherwise;andaftercompletionofproduction,mayfailtoobtainareleasepermit,ortobebroadcastafterobtainingareleasepermit,duetoitsthemeorotherwise,whichcouldaffectouroperatingresults.WewillproducefilmsandTVdramasinstrictaccordancewiththeapplicablepoliciesofthecountryandreviewprocessofthecompetentauthorities,andensurethatbothsocialandeconomicbenefitsaretakenintoaccountinourplanningfortheproductionoffilmsandTVdramas.
(2)RiskofhighuncertaintiesofreturnoninvestmentinfilmsandTVdramas.FilmsandTVdramas
areculturalproducts,thereceptionofwhichbytheaudiencesisaffectedbypreferences,lifeexperience,publicopinionsandotherfactors,andtheiraudienceratingafterbeingbroadcastisgreatlyuncertain.TheinvestmentinfilmsandTVdramashastheinherentcharacteristicsofhugeamountofsingleinvestment,longperiodofreturnoninvestment,directlinkagebetweenrevenueandboxofficereceiptsoraudiencerating,andnon-predictabilityofmarketreaction,amongothers,sothereturnoninvestmentisgreatlyuncertain.Wehaveestablishedscientificpre-authorizationandauthorizationpolicies,andsetupspecialreviewdepartments,toreducethe
MangoExcellentMediaCo.,Ltd.AnnualReport2021
risksofinvestmentinfilmsandTVdramas.
6.RiskoftechnologyupgradingAlongwiththematurityandapplicationof5G,cloudcomputing,AI,AR/VRandothertechnologies,newbusinesspatternsandbusinessmodelsmayemergeandbringaboutwhollynewculturalandentertainmentexperiencetousers.Thecommercialremodelingbroughtaboutbytechnologyupgradingmayhaveanadverseeffectonouroperation.Wehaveestablishedtheinnovationresearchinstitute,toenhanceresearchesonnewtechnologies,newmodelsandfuturetrendsoftheindustry,makejudgmentsandarrangementsinadvance,andcopewithrisksoftechnologyupgradinginanunhurriedmanner.
7.Riskofoutflowoftalents
Thenewmediabusiness,filmandTVdramaproduction,andartistagencybusinessconductedbyushavehighrequirementsfortheprofessionallevelsofpractitioners,soexperiencedprofessionalsareofgreatimportancetoourbusinessdevelopment,andoutflowofcorepersonnelcouldaffecttheconductofourbusiness.Inaddition,ifwefailtocontinuouslyrecruitoutstandingtalents,ourbusinessdevelopmentmaybeadverselyaffected.Wewillbuildanecosystemsuitablefortalentstogivefullplaytotheirabilities,andcontinuouslyimprovetheincentivemechanismsthatarecompetitiveonthemarket,toretainandattracttalents,arousetheenthusiasmandcreativityofcorepersonnel,andpromoteourbusinessdevelopment.
8.RiskofinfringementonintellectualpropertyrightsDuetothecomplexityoftheproductionoffilms,TVdramasandaudio&videoproducts,diversifiedwaystousetheworks,rapiddevelopmentofInternetapplicationandcomplexityofcopyrightprotection,thecopyrightpurchasedbyusmayhavedefectsandinfringeontheinterestsoflegalrightholders,orthelicensespurchasedbyusmaybeunabletosatisfytherequirementsofnewbusinesses,resultingininfringementdamagespayablebyus.Inaddition,theremaybeinfringingandpiratingactivitiesonthemarketinrespectoffilms,TVdramasandaudio&videoproductsinwhichwehaveexclusiverights,whichcouldprejudiceourlegitimaterightsandinterests.Therefore,wehaveestablishedcopyrightprotectionpolicyandcopyrightpurchasepolicy,enhancedeffortstosafeguardourintellectualpropertyrights,andinparticular,appointspecialpersonnelandprofessionalinstitutionstomonitorcopyrightinfringementactivitiesovertheInternetinrealtimeandtakeactionstosafeguardourlegitimaterightsandinterests.
XII.Investigation,research,communication,interviewandotheractivitiesduringthereportingperiod
√Applicable□N/A
| Date | Place | Methodofcommunication | Typeofguests | Guests | Maintopicofdiscussionandinformationprovided | Particularsoftheinvestigationandresearchactivityavailableat |
| April27,2021 | MeetingroomoftheCompany | On-siteinvestigationandresearch | Institutions | RefertotheRecordofInvestorRelationsActivitiesofMangoExcellentMediaCo.,Ltd.(2021-01) | Ourbusinesssituationsandfuturedevelopmentstrategiesandprospectsforindustrialdevelopment | RefertoourRecordofInvestorRelationsActivitiesdisclosedonwww.cninfo.com.cn |
| August18,2021 | Teleconference | Communicationbytelephone | Institutions | RefertotheRecordofInvestorRelationsActivitiesofMangoExcellentMedia | Ourbusinesssituationsandfuturedevelopmentstrategiesandprospectsfor | RefertoourRecordofInvestorRelationsActivitiesdisclosedonwww.cninfo.com.cn |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Co.,Ltd.(2021-02) | industrialdevelopment |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionIVCorporateGovernance
I.OverviewofourcorporategovernanceDuringthereportingperiod,wehavecontinuouslyimprovedourcorporategovernancestructure,internalmanagementandcontrolpolicies,intensivelycarriedoutcorporategovernanceactivities,promotedoperationalcomplianceandcontinuouslyincreasedourcorporategovernancelevelinstrictaccordancewiththerequirementsoftheCompanyLaw,theSecuritiesLaw,theCodeofCorporateGovernanceforListedCompanies,theRulesGoverningtheListingofStocksontheChiNextBoardoftheShenzhenStockExchange,andotherapplicablelaws,regulationsandnormativedocuments.Duringthereportingperiod,weamendedourArticlesofAssociation,theRulesofProcedureoftheBoardofDirectors,theRulesofProcedureoftheBoardofSupervisorsandotherrelevantpoliciesanddocuments,toprovidestrongerinstitutionalguaranteeforouroperationalcompliance.Asoftheendofthereportingperiod,ourcorporategovernancecomplieswiththeapplicablelaws,administrativeregulationsandtheprovisionsoftheCSRCregardingcorporategovernanceofthelistedcompanies.
1.Shareholdersandshareholders’meeting
Weconveneandholdshareholders’meetingsinstrictaccordancewithourArticlesofAssociation,theRulesofProcedureoftheShareholders’Meetingandotherrelevantprovisionsandrequirements,andtreatallshareholdersfairly.Wepermitinvestorstoelecttovoteinpersonoronlineatourshareholders’meetings,soastoenableminorityinvestorstofullyexercisetheirvotingrights.Inconsideringmaterialmattersthataffecttheinterestsofminorityinvestors,thevotescastbythemarecountedseparatelyanddisclosedontherelevantannouncementsontheresolutionsofourshareholders’meeting.
2.Relationshipwithcontrollingshareholder
Ourcontrollingshareholderisstrictwithitselfandhasnotdirectlyorindirectlyinterferedwithourdecision-makingandbusinessactivitieswithouttheauthorizationoftheshareholders’meeting.Weconductbusinessandoperateindependently,andareindependentofourcontrollingshareholderinbusiness,personnel,assets,organizationandfinance,andeachofourBoardofDirectors,BoardofSupervisorsandinternalbodiesoperatesindependently.
3.DirectorsandBoardofDirectorsOurBoardofDirectorshasninedirectors,includingthreeindependentdirectors.ThenumberofmembersandcompositionofourBoardofDirectorscomplywiththerequirementsoftheapplicablelawsandregulationsandourArticlesofAssociation.ThemembersofourBoardofDirectorsperformtheirdutiesingoodfaithanddiligentlyinaccordancewithourArticlesofAssociationandtheRulesofProcedureoftheBoardofDirectors,activelyparticipateintherelatedtraining,andarefamiliarwiththeapplicablelawsandregulations.OurBoardofDirectorsconvenesandholdsmeetingsinaccordancewiththeapplicableprocedures,keepstrue,accurateandcompletemeetingminutes,securelymaintainsuchmeetingminutes,anddiscloseitsresolutionsinatimelymanner.
4.SupervisorsandBoardofSupervisors
OurBoardofSupervisorshasthreesupervisors,includingoneemployeesupervisor.ThenumberofmembersandcompositionofourBoardofSupervisorscomplywiththerequirementsoftheapplicablelawsandregulations.Duringthereportingperiod,oursupervisorsseriouslyperformedtheirduties,andactivelysupervisedourmaterialmatters,related-partytransactions,insiders,internalcontrolsandfinancialconditionandperformanceofdutiesbyourdirectorsandexecutivesincompliancewiththeapplicablelawsandregulations,pursuanttotheRulesofProcedureoftheBoardofSupervisors.
5.Establishmentandimplementationofinternalauditpolicy
OurBoardofDirectorshassetuptheAuditCommittee,responsibleforcommunications,supervision,meetingorganizationandexaminationsinrespectofinternalandexternalaudits.TheAuditDepartmentundertheCompensationandAppraisalCommitteeisresponsibleforhandlingday-to-dayaffairs,andexaminationandsupervisionoftheestablishmentandimplementationofinternalcontrols,truthfulnessandcompletenessoffinancialinformationoftheCompany.
6.Performanceappraisalandincentiveandrestraintmechanisms
OurBoardofDirectorshassetuptheCompensationandAppraisalCommittee,responsiblefortheestablishmentofcompensationpolicies,determinationofcompensationplans,andperformanceappraisalofexecutives.Wehavetheperformanceappraisalandincentivesysteminplace,linktherevenueofoperatorswithouroperatingresults,andrequirethattheappointmentofexecutivesmustbeopenandtransparentandcomplywiththeapplicablelawsandregulations.
7.Informationdisclosureandtransparency
Wetruthfully,accurately,timely,fairlyandcompletelydisclosetherelevantinformationinstrictaccordancewiththeapplicablelawsandregulations,theInformationDisclosurePolicyandtheInvestorRelationsManagementPolicy,designateourBoardSecretarytoberesponsibleformakinginformationdisclosures,
MangoExcellentMediaCo.,Ltd.AnnualReport2021
coordinatingourrelationswithinvestors,receivingvisitingshareholders,andpromptlyreplyinginquiriesofinvestorsthroughtheinvestorsinteractionplatform,telephoneandotherchannels,andhttp://www.cninfo.com.cn,theChinaSecuritiesJournal,theShanghaiSecuritiesNews,theSecuritiesTimesandtheSecuritiesDailyasthewebsitesandnewspapersforustodiscloseinformation,andtruthfully,accurately,timely,fairlyandcompletelydisclosetherelevantinformationinstrictaccordancewiththeapplicablelawsandregulationsandtheInformationDisclosurePolicy,inordertoensurethatallshareholdershaveequalopportunitiestoaccesstheinformationaboutus.
8.Stakeholders
Wefullyrespectthelegitimaterightsandinterestsofstakeholders,andstrivetocoordinateandbalancetheinterestsofshareholders,employees,partners,thesocietyandotherstakeholders,andjointlypromoteoursustainedandsteadydevelopment.IsthereanysignificantdifferencebetweentheactualcircumstanceofcorporategovernanceoftheCompanyandtheapplicablelaws,administrativeregulationsandtheprovisionsoftheCSRCregardingcorporategovernanceofthelistedcompanies?
□Yes√NoThereisn’tanysignificantdifferencebetweentheactualcircumstanceofourcorporategovernanceandtheapplicablelaws,administrativeregulationsandtheprovisionsoftheCSRCregardingcorporategovernanceofthelistedcompanies.II.TheCompany’sindependenceofitscontrollingshareholderandactual
controllerinassets,personnel,finance,organizationandoperationWeareindependentofourcontrollingshareholderandactualcontrollerinoperation,personnel,assets,organizationandfinance.Noneofourcontrollingshareholder,actualcontrollerortheiraffiliateshasillegaloccupiedourfundsorrequestedustoprovideanyguaranteeinviolationoftheapplicablelawsandregulations.
1.Business:Weareanindependentcorporateentity,andconductbusinessandoperateindependently.
2.Personnel:Wehaveanindependenthumanresourcesdepartment,andcompletehumanresources
managementpoliciesinplace.OurGeneralManager,DeputyGeneralManagers,CFO,BoardSecretaryand
otherexecutivesreceiveremunerationsfromtheListedCompanyduringtheirtermsofoffice.
3.Segregationofassets:Ourassetsarecompleteandfreefromanyencumbrance,andwehaveindependent
purchasing,productionandsalessystemsandsupportingfacilities.
4.Organization:Wehavesetupinternalbodiesthataresuitableforourdevelopmentrequirementsandoperate
independently,andourfunctionaldepartmentsareindependentofourcontrollingshareholderintheir
operation.
5.Finance:Wehaveanindependentfinancedepartment,andhaveestablishedindependentfinancialand
accountingsystemandfinancialmanagementpolicies,andopenedseparatebankaccounts,andpaidtaxes
separately.
III.Horizontalcompetition
□Applicable√N/A
IV.Annualandextraordinaryshareholders’meetingsheldduringthereporting
period
1.Shareholders’meetingsheldduringthereportingperiod
| Session | Typeofmeeting | Parentageofinvestorsattendingthemeeting | Dateofmeeting | Dateofdisclosure | Resolutionofthemeeting |
| 2020annualshareholders’meeting | Annualshareholders’meeting | 78.95% | May21,2021 | May22,2021 | RefertotheAnnouncementonResolutionsofthe2020AnnualShareholders’Meetingdisclosedonwww.cninfo.com.cn. |
| Firstextraordinaryshareholders’meetingin2021 | Extraordinaryshareholders’meeting | 76.96% | October11,2021 | October12,2021 | RefertotheAnnouncementonResolutionsoftheFirstExtraordinary |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Shareholders’Meetingin2021disclosedonwww.cninfo.com.cn. | |||||
| Secondextraordinaryshareholders’meetingin2021 | Extraordinaryshareholders’meeting | 79.98% | December21,2021 | December22,2021 | RefertotheAnnouncementonResolutionsoftheSecondExtraordinaryShareholders’Meetingin2021disclosedonwww.cninfo.com.cn. |
2.Extraordinaryshareholders’meetingsconvenedontherequisitionofholdersof
preferredshareswhosevotingrightshavebeenrestituted□Applicable√N/AV.Arrangementfordifferentialvotingrights
□Applicable√N/A
VI.Corporategovernanceofred-chipstructuredcompanies
□Applicable√N/A
MangoExcellentMediaCo.,Ltd.AnnualReport2021
VII.Directors,supervisorsandexecutives
1.Particulars
| Name | Title | Status | Gender | Age | Beginningdateofthetermofoffice | Enddateofthetermofoffice | Beginningbalanceofsharesheld | No.ofadditionalsharesacquiredinthereportingperiod | No.ofsharesdisposedofinthereportingperiod | Changesinthenumberofsharesheldduetootherreasons | Endingbalanceofsharesheld | Causeofincreaseordecreaseinthenumberofsharesheld |
| ZHANGHuali | ChairmanoftheBoardofDirectors | Active | Male | November16,2017 | 0 | 0 | 0 | 0 | 0 | |||
| ZHONGHongming | IndependentDirector | Active | Male | June14,2017 | 0 | 0 | 0 | 0 | 0 | |||
| XIAOXing | IndependentDirector | Active | Female | January8,2019 | 0 | 0 | 0 | 0 | 0 | |||
| LIUYuhui | IndependentDirector | Active | Male | January8,2019 | 0 | 0 | 0 | 0 | 0 | |||
| LUOWeixiong | Director | Active | Male | September19,2019 | 0 | 0 | 0 | 0 | 0 | |||
| ZHANGYong | Director | Active | Male | May25,2011 | 0 | 0 | 0 | 0 | 0 | |||
| CAIHuaijun | Director&GeneralManager | Active | Male | September12,2018 | 0 | 0 | 0 | 0 | 0 | |||
| LIUXin | Director | Active | Male | September19,2018 | 0 | 0 | 0 | 0 | 0 | |||
| TANGLiang | Director | Active | Male | June1,2014 | 0 | 0 | 0 | 0 | 0 | |||
| YANGYun | ChairmanoftheBoardofSupervisors | Active | Male | June14,2017 | 1,500 | 0 | 0 | 0 | 1,500 | |||
| LIJiaochun | Supervisor | Active | Male | June14,2017 | 0 | 0 | 0 | 0 | 0 |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| FANGFei | EmployeeSupervisor | Active | Male | August19,2020 | 0 | 0 | 0 | 0 | 0 | |||
| ZHENGHuaping | DeputyGeneralManager | Active | Male | August16,2018 | 0 | 0 | 0 | 0 | 0 | |||
| LIANGDeping | DeputyGeneralManager&FinanceDirector | Active | Male | August16,2018 | 0 | 0 | 0 | 0 | 0 | |||
| WUJun | BoardSecretary | Active | Female | April27,2019 | 0 | 0 | 0 | 0 | 0 | |||
| HEJin | DeputyGeneralManager | Retired | Female | August16,2018 | April21,2021 | 0 | 0 | 0 | 0 | 0 | ||
| WANGKe | DeputyGeneralManager | Retired | Male | August16,2018 | April21,2021 | 0 | 0 | 0 | 0 | 0 | ||
| Total | -- | -- | -- | -- | -- | -- | 1,500 | 0 | 0 | 1,500 | -- |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Whetheranydirectororsupervisorretiredoranyexecutivewasremovedduringthereportingperiod?
√Yes□NoOnApril21,2021,ourformerdeputygeneralmanagersHEJinandWANGKeresignedofficeduetotransfertodifferentjobs.Changesindirectors,supervisorsandexecutives:
√Applicable□N/A
| Name | Title | Type | Date | Reason |
| ZHANGHuali | Director | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| ZHONGHongming | IndependentDirector | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| XIAOXing | IndependentDirector | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| LIUYuhui | IndependentDirector | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| LUOWeixiong | Director | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| ZHANGYong | Director | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| CAIHuaijun | Director | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| LIUXin | Director | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| TANGLiang | Director | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| YANGYun | Supervisor | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| LIJiaochun | Supervisor | Elected | May21,2021 | Re-electeduponexpirationoftermofoffice |
| ZHANGHuali | ChairmanoftheBoardofDirectors | Elected | July5,2021 | Re-electeduponexpirationoftermofoffice |
| YANGYun | ChairmanoftheBoardofSupervisors | Elected | July5,2021 | Re-electeduponexpirationoftermofoffice |
| CAIHuijun | GeneralManager | Appointed | July5,2021 | Re-electeduponexpirationoftermofoffice |
| ZHENGHuaping | DeputyGeneralManager | Appointed | July5,2021 | Re-electeduponexpirationoftermofoffice |
| LIANGDeping | DeputyGeneralManager&FinanceDirector | Appointed | July5,2021 | Re-electeduponexpirationoftermofoffice |
| WUJun | BoardSecretary | Appointed | July5,2021 | Re-electeduponexpirationoftermofoffice |
| HEJin | DeputyGeneralManager | Retired | April21,2021 | Resignedasdeputygeneralmanagerduetotransfertoadifferentjob |
| WANGKe | DeputyGeneralManager | Retired | April21,2021 | Resignedasdeputygeneralmanagerduetotransfertoadifferentjob |
2.Positionsheld
Professionalbackgroundandmainworkexperienceofourcurrentdirectors,supervisorsandexecutivesandmainpositionsheldbythemintheCompany:
1.Directors
ZHANGHuali,male,Hannationality,borninDecember1964,memberoftheCommunistPartyofChina,literaryeditoroffirstrank,graduatedfromtheChineseDepartmentofFudanUniversity;former
MangoExcellentMediaCo.,Ltd.AnnualReport2021
deputychiefoftheNewsCenter,firstdeputychiefoftheCultureandSportsChannel,directoroftheEntertainmentChannelanddirectoroftheSatelliteChannelofHunanTV,memberofthePartyCommittee,deputycontrollerandchiefeditorofHBS,anddeputysecretaryofthePartyCommitteeandgeneralmanagerofGBS;isnowSecretaryofthePartyCommitteeandChairmanofGBS(HBS),andChairmanofMangoMedia;hasbeenourChairmansinceNovember2017,andSecretaryofthePartyCommitteesinceNovember2018.ZHONGHongming,male,Hannationality,borninJanuary1975,graduatedfromtheRenminUniversityofChinaLawSchool,doctoroflaws;isnowassociateresearchfellowattheInstituteofLaw,SichuanAcademyofSocialSciences,memberoftheExecutiveCounciloftheChinaSecuritiesLawSociety,memberoftheExecutiveCounciloftheChinaCommercialLawSociety,andIndependentDirectorofFIYTAPrecisionTechnologyCo.,Ltd.;andhasbeenourIndependentDirectorsinceJune2017.XIAOXing,female,borninMarch1971,memberoftheCommunistPartyofChina,graduatedfromtheTsinghuaUniversity,PhDcandidateofaccounting;joinedtheTsinghuaUniversitySchoolofEconomicsandManagementin1997,hasactedasteachingassistant,lecturer,associateprofessor,tenuredassociateprofessorandtenuredprofessorthere,andisnowprofessorandchiefoftheDepartmentofAccountingoftheTsinghuaUniversitySchoolofEconomicsandManagement,andExecutiveDeputyDirectoroftheTsinghuaUniversityGlobalEquityPrivateResearchInstitute,memberoftheNationalAccountingProfessionalMasterEducationSteeringCommittee,memberoftheAccountingTeachingSteeringCommitteeoftheMinistryofEducation,andIndependentDirectorofLiAutoandBloomageBiotechnology;andhasbeenourIndependentDirectorsinceJanuary2019.LIUYuhui,male,borninOctober1970,memberoftheCommunistPartyofChina,graduatedfromtheChineseAcademyofSocialSciencesmajoringinquantitativeeconomics,PhDcandidate;waschiefoftheKeyFinancingLaboratory,theInstituteofFinance,theChineseAcademyofSocialSciencesfromAugust2003toApril2017;joinedtheInstitutionofEconomics,theChineseAcademyofSocialSciencesasaresearchfellowinApril2017;isnowprofessoranddoctoraltutorofeconomicsattheChineseAcademyofSocialSciences,memberoftheExecutiveCounciloftheChinaChiefEconomistForum,andmemberoftheAnnuityCouncilofChinaNationalPetroleumCorporation;andhasbeenourIndependentDirectorsinceJanuary2019.LUOWeixiong,male,Hannationality,borninNovember1962,memberoftheCommunistPartyofChina,undergraduate,bachelorofarts,chiefeditor;formerchiefeditoroftheRadioandTVNewsAgency,directorandgeneralmanagerofHTBI,generalmanagerofHTBIAdvertisingCompany,directorofGBSAdvertisingOperationandManagementCenter,anddirectorofHBSOperationandIndustryManagementCommittee;isnowmemberofthePartyCommitteeandDeputyControllerofHBS,memberofthePartyCommitteeandDeputyGeneralManagerofGBS,andDirectorofMangoMediaCo.,Ltd.;andhasbeenourDirectorsinceSeptember2019.ZHANGYong,male,borninSeptember1962,memberoftheCommunistPartyofChina,graduatedfromtheZhengzhouUniversityofLightIndustryasanundergraduatemajoringinautomationcontrol,seniorengineer;formerdeputydirectorofHunanTVEntertainmentChannel,directorofGBSProgramMarketingCenter;assistanttocontrolleranddirectoroftheProductionDispatchCenterofHunanTV,assistanttocontrollerofHBS,andchairmanandchiefeditorofHappySunshine;isnowAssistanttotheGeneralManagerofGBS,andDirectorandGeneralManagerofMangoMediaCo.,Ltd.;andhasbeenaDirectoroftheCompany(includingHappigoCo.,Ltd.,thepredecessoroftheCompany)sinceMay2011.CAIHuaijun,male,borninDecember1977,memberoftheCommunistPartyofChina,graduatedfromtheCentralSouthUniversitymajoringinbusinessmanagement,PhDcandidate;formerplanningandstatisticssectionchiefoftheFinanceDepartmentofHunanTV,deputychiefoftheMangoMediaRestructuringandListingOffice,deputychiefoftheFinanceDepartmentofHBS,anddeputygeneralmanagerandstrategicinvestmentdirectorofMangoMediaCo.,Ltd.;isnowSecretaryofthePartyCommittee,ManagingDirectorandGeneralManagerofHappySunshine;andhasbeenGeneralManageroftheCompanysinceAugust2018,DirectoroftheCompanysinceSeptember2018,DeputySecretaryofthePartyCommitteesinceNovember2018,andChiefEditorsinceApril2020.LIUXin,male,borninOctober1971,memberoftheCommunistPartyofChina,PhDcandidate;formerdeputygeneralmanagerandgeneralmanageroftheDataDepartmentofChinaMobile;isnowSecretaryofthePartyCommittee,ChairmanandGeneralManagerofMiguCultureTechnologyCo.,Ltd.,ChairmanofMiguMusicCo.,Ltd.,MiguVideoTechnologyCo.,Ltd.,MiguDigitalMediaCo.,Ltd.,MiguInteractiveEntertainmentCo.,Ltd.andMiguCartoonCo.,Ltd.,DirectorofiFlyTekCo.,Ltd.,andDirectorofChinaMobileSDICInnovationInvestmentManagementCo.,Ltd.;andhasbeenourDirectorsinceSeptember2019.TANGLiang,male,bornin1976,memberoftheCommunistPartyofChina,graduatedfromtheHunanNormalUniversitymajoringinEnglisheducation,undergraduate;formerdeputychiefoftheNewsCenter,andchiefoftheBeijingProgramCenterofHunanEconomicTV,deputydirectorofthe
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Fashion(Shopping)ChannelofHunanTV,memberofthePartyCommitteeanddeputygeneralmanagerofMangoMediaCo.,Ltd.,secretaryofthePartyCommittee,directorandgeneralmanagerofHappigoInc.;andhasbeenourDirectorsinceAugust2018,DeputySecretaryofthePartyCommitteesinceNovember2018,andSecretaryoftheDisciplineInspectionCommitteesinceApril2020.
2.Supervisors
YANGYun,male,borninJuly1973,memberoftheCommunistPartyofChina,mastercandidate,accountant;formerchiefoftheFinanceDepartmentanddeputydirectorofHBSEntertainmentChannel,deputygeneralmanagerandchiefoftheAssetsandFinanceDepartmentofMangoMediaCo.,Ltd.,andchiefoftheAssetsandFinanceDepartmentofHBS;isnowAssistanttotheGeneralManagerandChiefoftheAssetsandFinanceDepartmentofGBS,ChiefoftheFinanceDepartmentofHBS,DirectorandDeputyGeneralManagerofMangoMedia,andDirectorofHTBI,hasrichexperienceinfinancialmanagementandmediaoperations;andhasbeenourChairmanoftheBoardofSupervisorsinceJune2017.LIJiaochun,male,borninJanuary1964,memberoftheCommunistParty;hasworkedintheHunanProvincialPartyCommitteeforalongtimeaschiefeditorofmagazineandchiefoftheCulturalIndustryOffice;isnowDeputySecretaryofthePartyCommittee,SecretaryoftheDisciplineInspectionCommitteeandChairmanoftheBoardofSupervisorsofMangoMedia;andhasbeenourSupervisorsinceJune2017.FANGFei,male,borninDecember1985,memberoftheCommunistPartyofChina,mastercandidate;formerplanningdirectoroftheEconomicTVAdvertisingDepartment,HBSAdvertisingOperationandManagementCenter,assistanttothegeneralmanagerofHappySunshineandgeneralmanageroftheAdvertisingMarketingCenterofHappySunshine;isnowDeputyGeneralManagerofHappySunshine,ManagingDirectorandGeneralManagerofMangofun,ManagingDirectorandGeneralManagerofHorgosHappySunshineMediaCo.,Ltd.,andDirectorandGeneralManagerofHappySunshineXingmangInteractiveEntertainmentMediaCo.,Ltd.;andhasbeenourEmployeeSupervisorsinceAugust2020.
3.Executives(otherthanthosewhoserveontheBoardofDirectorsconcurrently)
ZHENGHuaping,male,borninOctober1976,memberoftheCommunistPartyofChina,graduatedfromtheCentralSouthUniversitymajoringinscience,technologyandphilosophy,mastercandidate;formersectionchiefofthePlanningandPromotionDepartmentoftheChiefEditorOfficeofHunanTV,deputychiefofMangoMediaRestructuringandListingOffice,deputychiefoftheChiefEditorOfficeoftheHunanSatelliteTVChannel,deputydirectorofHBSProgramTransactionManagementCenter,andchairmanandgeneralmanagerofMangofun;isnowmemberofthePartyCommittee,ChiefEditorandDeputyGeneralManagerofHappySunshine;andhasbeenDeputyGeneralManageroftheCompanysinceAugust2018,andmemberofthePartyCommitteesinceNovember2018.LIANGDeping,male,borninFebruary1979,memberoftheCommunistPartyofChina;MBA,ChangshaUniversityofScienceandTechnology;formerassistanttothedirector,chiefoftheFinanceDepartmentandchiefoftheProductionDepartmentoftheEntertainmentChannel,anddeputydirectoroftheEntertainmentChannelofHunanTV,deputygeneralmanagerofMangoEntertainment,andmanagingdirectorofMangofun;isnowmemberofthePartyCommitteeandDeputyGeneralManagerofHappySunshine,ManagingDirectorofHappyMoney,andManagingDirectorofHappigo;andhasbeenDeputyGeneralManagerandFinanceDirectoroftheCompanysinceAugust2018,andmemberofthePartyCommitteeoftheCompanysinceNovember2018.WUJun,female,borninFebruary1983,memberoftheCommunistPartyofChina,PhDcandidate;sinceJune2007,hasbeenreporterandeditorinchargeatHunanNewsNetworkofHunanTV,deputychiefoftheAdministrationandHumanResourcesDepartment,chiefoftheGeneralManager’sOfficeandPartybranchsecretaryoftheheadofficeofMangoMediaCo.,Ltd.;hasbeenchiefoftheBoardOfficeofMangoExcellentMediasinceAugust2018,andourBoardSecretarysinceApril2019.Positionsheldinshareholders:
√Applicable□N/A
| Name | Shareholder | Position | Beginningdateofthetermofoffice | Enddateofthetermofoffice | Whetherornotreceiveremunerationsandsubsidiesfromsuchshareholder |
| ZHANGHuali | MangoMediaCo.,Ltd. | Chairman | |||
| LUOWeixiong | MangoMedia | Director |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Co.,Ltd. | ||
| ZHANGYong | MangoMediaCo.,Ltd. | Director&GeneralManager |
| YANGYun | MangoMediaCo.,Ltd. | Director&DeputyGeneralManager |
| LIJiaochun | MangoMediaCo.,Ltd. | DeputySecretaryofthePartyCommittee,SecretaryoftheDisciplineInspectionCommitteeandChairmanoftheBoardofSupervisors |
Positionsheldinotherentities:
√Applicable□N/A
| Name | Entity | Position | Beginningdateofthetermofoffice | Enddateofthetermofoffice | Whetherornotreceiveremunerationsandsubsidiesfromsuchentity |
| ZHANGHuali | HBS | SecretaryofthePartyCommittee&Chairman | |||
| ZHANGHuali | GBS | SecretaryofthePartyCommittee&Chairman | |||
| ZHONGHongming | InstituteofLaw,SichuanAcademyofSocialSciences | Associateresearchfellow&ChiefoftheFinanceLawResearchOffice | |||
| ZHONGHongming | FIYTA(Group)Co.,Ltd. | IndependentDirector | |||
| XIAOXing | TsinghuaUniversitySchoolofEconomicsandManagement | professor&chiefoftheDepartmentofAccounting | |||
| XIAOXing | TsinghuaUniversityGlobalEquityPrivateResearchInstitute | ExecutiveDeputyDirector | |||
| XIAOXing | NationalAccountingProfessionalMasterEducationSteeringCommittee | Member | |||
| XIAOXing | AccountingTeachingSteeringCommitteeoftheMinistryofEducation | Member | |||
| XIAOXing | LiAuto | IndependentDirector | |||
| XIAOXing | BloomageBiotechnologyCorp.,Ltd. | IndependentDirector | |||
| LIUYuhui | ChineseAcademyof | Professorand |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| SocialSciences | doctoraltutorofeconomics | |
| LIUYuhui | TFSecurities | Guesteconomist |
| LIUYuhui | ExecutiveCounciloftheChinaChiefEconomistForum | Member |
| LIUYuhui | AnnuityCouncilofChinaNationalPetroleumCorporation | Member |
| LUOWeixiong | HBS | MemberofthePartyCommittee&DeputyController |
| LUOWeixiong | GBS | MemberofthePartyCommittee&DeputyGeneralManager |
| ZHANGYong | GBS | AssistanttotheGeneralManager |
| ZHANGYong | EE-Media | ManagingDirector |
| ZHANGYong | YizeCapitalManagementCo.,Ltd. | Director |
| LIUXin | MiguCultureTechnologyCo.,Ltd. | SecretaryofthePartyCommittee&Chairman |
| LIUXin | iFlyTekCo.,Ltd. | Director |
| LIUXin | ChinaMobileSDICInnovationInvestmentManagementCo.,Ltd. | Director |
| YANGYun | HBS | ChiefoftheFinanceDepartment |
| YANGYun | GBS | AssistanttotheGeneralManagerandChiefoftheAssetsandFinanceDepartment |
| YANGYun | HTBI | Director |
| LIANGDeping | Happigo | ManagingDirector |
Punishmentsimposedbythesecuritiesregulatoryauthoritiesinthepastthreeyearsonthedirectors,supervisorsandexecutivesoftheCompanycurrentlyinofficeorleavingofficeduringthereportingperiod:
□Applicable√N/A
3.Remunerationsofdirectors,supervisorsandexecutives
Decision-makingprocess,criteriafordeterminationandactualamountinrespectofremunerationsofdirectors,supervisorsandexecutives:
Decision-makingprocess:Theremunerationsofourdirectorsandsupervisorsaredecidedbytheshareholders’meetingaccordingtoourArticlesofAssociationandotherrelevantprovisions;theremunerationsofexecutivesaredecidedbytheBoardofDirectors.TheremunerationsandsubsidiesofourdirectorsandsupervisorsareconsideredandapprovedbytheBoardofDirectors,andthensubmittedtotheshareholders’meetingforapproval.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Criteriafordeterminationoftheremunerations:Theremunerationsaredeterminedaccordingtoourbusinesssituations,scopeandimportanceofdutiesandresultofperformanceappraisal.Thesubsidiesofindependentdirectorsaredeterminedbyreferencetotheoveralllevelofthelistedcompaniesinthesameregionandindustry.Amountofremunerationsactuallypaid:Theremunerationsofdirectors,supervisorsandexecutivesholdingpostsintheCompanyarepaidbytheCompany.Wedonotpayanyadditionalsubsidytoourdirectorsandsupervisors.Theamountoftotalremunerationspaidin2021wasRMB28.98million.Remunerationsofdirectors,supervisorsandexecutivespaidinthereportingperiod:
InRMB0’000
| Name | Title | Gender | Age | Status | TotalremunerationreceivedfromtheCompany(inclusiveoftax) | WhetherornotreceivingremunerationsfromanyaffiliateoftheCompany |
| ZHANGHuali | Director | Male | 57 | Active | 0 | |
| ZHONGHongming | IndependentDirector | Male | 47 | Active | 22 | |
| XIAOXing | IndependentDirector | Female | 50 | Active | 22 | |
| LIUYuhui | IndependentDirector | Male | 51 | Active | 22 | |
| LUOWeixiong | Director | Male | 59 | Active | 0 | |
| ZHANGYong | Director | Male | 59 | Active | 0 | |
| CAIHuaijun | Director&GeneralManager | Male | 44 | Active | 600 | |
| LIUXin | Director | Male | 50 | Active | 0 | |
| TANGLiang | Director | Male | 45 | Active | 256 | |
| YANGYun | ChairmanoftheBoardofSupervisors | Male | 48 | Active | 0 | |
| LIJiaochun | Supervisor | Male | 57 | Active | 0 | |
| FANGFei | EmployeeSupervisor | Male | 36 | Active | 550 | |
| ZHENGHuaping | DeputyGeneralManager | Male | 45 | Active | 450 | |
| LIANGDeping | DeputyGeneralManager&FinanceDirector | Male | 42 | Active | 450 | |
| WUJun | BoardSecretary | Female | 38 | Active | 256 | |
| HEJin | DeputyGeneralManager | Female | 50 | Retired | 135 | |
| WANGKe | DeputyGeneralManager | Male | 42 | Retired | 135 | |
| Total | - | - | - | - | 2,898 | - |
VIII.Performanceofdutiesbythedirectorsduringthereportingperiod
1.MeetingsoftheBoardofDirectorsheldduringthereportingperiod
| Session | Dateofmeeting | Dateofdisclosure | Resolutionofthemeeting |
| 35thmeetingofthe3rdBoardofDirectors | January26,2021 | January27,2021 | RefertotheAnnouncementonResolutionsofthe35thmeetingofthe3rdBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
| 36thmeetingofthe3rdBoardofDirectors | April22,2021 | April26,2021 | RefertotheAnnouncementonResolutionsofthe36thmeetingofthe3rdBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| 1stmeetingofthe4thBoardofDirectors | July5,2021 | July6,2021 | RefertotheAnnouncementonResolutionsofthe1stmeetingofthe4thBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
| 2ndmeetingofthe4thBoardofDirectors | August16,2021 | August18,2021 | RefertotheAnnouncementonResolutionsofthe2ndmeetingofthe4thBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
| 3rdmeetingofthe4thBoardofDirectors | August30,2021 | August31,2021 | RefertotheAnnouncementonResolutionsofthe3rdmeetingofthe4thBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
| 4thmeetingofthe4thBoardofDirectors | September10,2021 | September14,2021 | RefertotheAnnouncementonResolutionsofthe4thmeetingofthe4thBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
| 5thmeetingofthe4thBoardofDirectors | September23,2021 | September24,2021 | RefertotheAnnouncementonResolutionsofthe5thmeetingofthe4thBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
| 6thmeetingofthe4thBoardofDirectors | October27,2021 | October28,2021 | RefertotheAnnouncementonResolutionsofthe6thmeetingofthe4thBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
| 7thmeetingofthe4thBoardofDirectors | November28,2021 | November29,2021 | RefertotheAnnouncementonResolutionsofthe7thmeetingofthe4thBoardofDirectorsdisclosedonwww.cninfo.com.cn. |
2.AttendanceofthedirectorsatmeetingsoftheBoardofDirectorsandshareholders
| AttendanceofthedirectorsatmeetingsoftheBoardofDirectorsandshareholders | |||||||
| Director | No.ofboardmeetingsattendedduringthereportingperiod | No.ofboardmeetingspresentinperson | No.ofboardmeetingspresentbymeansofcommunicationequipment | No.ofboardmeetingspresentbyproxy | No.ofboardmeetingsabsentfrom | Whetherornothavingbeenabsentfromtwoconsecutiveboardmeetings | No.ofshareholders’meetingattended |
| ZHANGHuali | 9 | 2 | 7 | 0 | 0 | No | 3 |
| ZHONGHongming | 9 | 1 | 8 | 0 | 0 | No | 1 |
| XIAOXing | 9 | 0 | 9 | 0 | 0 | No | 1 |
| LIUYuhui | 9 | 0 | 9 | 0 | 0 | No | 1 |
| LUOWeixiong | 9 | 2 | 7 | 0 | 0 | No | 3 |
| ZHANGYong | 9 | 2 | 7 | 0 | 0 | No | 3 |
| CAIHuaijun | 9 | 2 | 7 | 0 | 0 | No | 2 |
| LIUXin | 9 | 2 | 7 | 0 | 0 | No | 1 |
| TANGLiang | 9 | 2 | 7 | 0 | 0 | No | 3 |
ExplanationaboutabsencefromtwoconsecutivemeetingsoftheBoardofDirectors:
MangoExcellentMediaCo.,Ltd.AnnualReport2021
3.ObjectionsraisedbythedirectorsregardingmattersoftheCompanyWhetheranydirectorhasraisedanyobjectionregardingmattersoftheCompany?
□Yes√NoNodirectorhasraisedanyobjectionregardingmattersoftheCompanyduringthereportingperiod.
4.OtherinformationregardingtheperformanceofdutiesbythedirectorsWhetherthesuggestionsputforwardbythedirectorshavebeenadoptedbytheCompany?
√Yes□NoExplanationabouttheadoptionornon-adoptionbytheCompanyofthesuggestionsputforwardbythedirectors:
Duringthereportingperiod,ourdirectorshaveperformedtheirdutiesandobligationsdiligentlyinstrictaccordancewiththeCompanyLaw,theSecuritiesLawandotherapplicablelawsandregulationsandourArticlesofAssociation,activelyparticipatedintherelevantmeetings,andseriouslyconsideredallproposals.Ourindependentdirectorshavekeptcommunicationswithotherdirectors,supervisors,executivesandrelatedpersonnelbytelephone,attendingmeetings,on-siteinvestigationsorotherwise,activelyaskedforinformationaboutourproduction,operationandfinancialconditions,putforwardactivesuggestionsregardingourdevelopmentstrategiesandcorporategovernance,andexpressedindependentopinionsaboutrelated-partytransactions,profitdistributionpolicies,remunerationmanagement,re-electionandothermatters,toeffectivelyensurethefairnessandobjectivenessofthedecisionsmadebytheBoardofDirectors.Ourdirectorsperformtheirdutieshonestlyandingoodfaith,safeguardthelegitimaterightsandinterestsoftheCompanyandallshareholders,andplayanactiveroleinpromotingouroperationalcomplianceandhealthydevelopment.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
IX.ActivitiesofthecommitteesoftheBoardofDirectorsduringthereportingperiod
| Committee | Members | No.ofmeetingsheld | Dateofmeeting | Topics | Importantopinionsandsuggestions | Performanceofotherduties | Objections(ifany) |
| AuditCommittee | XIAOXing(Chairman),ZHONGHongming,LIUYuhui,LUOWeixiongandTANGLiang | 6 | January20,2021 | ConsideredandapprovedtheInternalAuditPlan2021,2020AnnualReportAuditPlan,andtheProposalRegardingtheAuditor’sReportontheInternalControlPolicyforMonetaryCapitalofHappyMoney;andreviewedtheSummaryReportonAuditWork2020andWorkPlan2021preparedbytheAuditDepartment. | |||
| April12,2021 | ConsideredandapprovedtheProposalRegardingthe2020Auditor’sReport,theProposalRegardingtheSelf-assessmentofInternalControlsin2020,theProposalRegardingtheSpecialReportontheDepositandUseofOfferingProceedsin2020,theProposalRegardingtheFulfillmentofCovenantsRelatingtoOperatingResultsin2020,theProposalRegardingAmendmenttotheAccountingPoliciesandtheProposalRegardingtheFinancialReportfortheFirstQuarterof2021. | ||||||
| April20,2021 | ConsideredandapprovedtheProposalRegardingtheSpecialReportonOfferingProceedsintheFirstQuarterof2021,andtheProposalRegardingtheAuditor’sReportontheInternalControlPolicyforMonetaryCapitalofHappigoCo.Ltd.;andreviewedtheSummaryReportonAuditWorkintheFirstQuarterof2021andWorkPlanfortheSecondQuarterof2021preparedbytheAuditDepartment. | ||||||
| August6,2021 | ConsideredandapprovedtheProposalRegardingtheFinancialReportfortheFirstHalfof2021,andtheProposalRegardingtheSpecialReportontheDepositandUseofOfferingProceedsintheFirstHalfof2021;approvedtheProposalRegardingtheSpecialExaminationReportontheImplementationofSignificantEventsandMaterialReceiptsandPaymentsintheFirstHalfof2021;andreviewedtheSummaryReportonAudit |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| WorkintheSecondQuarterof2021andWorkPlanfortheThirdQuarterof2021preparedbytheAuditDepartment. | ||||
| October22,2021 | ConsideredandapprovedtheProposalRegardingtheFinancialReportfortheThirdQuarterof2021,theProposalRegardingtheRe-appointmentofAccountingFirm,andtheProposalRegardingtheSpecialReportontheDepositandUseofOfferingProceedsintheThirdQuarterof2021;andreviewedtheSummaryReportonAuditWorkintheThirdQuarterof2021andWorkPlanfortheFourthQuarterof2021preparedbytheAuditDepartment. | |||
| December24,2021 | ConsideredandapprovedtheProposalRegardingthe2021AnnualReportAuditPlanpreparedbyPan-ChinaCertifiedPublicAccountantsLLP,andtheInternalAuditPlan2021;andreviewedtheSummaryReportonAuditWork2021andWorkPlan2022preparedbytheAuditDepartment. | |||
| CompensationCommittee | LIUYuhui(Chairman),ZHONGHongming,XIAOXing,ZHANGYongandLIUXin | 2 | February9,2021 | ConsideredandapprovedtheProposalRegardingTotalRemunerationsandRemunerationsofSeniorOfficersfor2020. |
| April22,2021 | ConsideredandapprovedtheProposalRegardingPerformanceAppraisalofSeniorOfficersfor2020andRemunerationProposalfor2021. |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
X.ActivitiesoftheBoardofSupervisors
WhethertheBoardofSupervisorshasidentifiedanyriskinvolvingtheCompanyinitssupervisoryactivitiesduringthereportingperiod?√Yes□NoTheBoardofSupervisorshasnotraisedanyobjectiontothesupervisorymattersduringthereportingperiod.
XI.Employees
1.Employeesandtheircompositionbyspecializationandeducationbackground
| Employeesoftheparentcompany(person)attheendoftheReportingPeriod | 34 |
| Employeesofmainsubsidiaries(person)attheendoftheReportingPeriod | 3,988 |
| TotalofemployeesonactivedutyPeriod(person)attheendoftheReporting | 4,022 |
| Totalofemployeesreceivingremunerationforthecurrentperiod(person) | 4,022 |
| Retiredemployeeswhoseexpenseisundertakenbyparentcompanyandmainsubsidiaries(person) | 7 |
| Compositionofemployeesbyspecialization | |
| Areasofspecialization | Headcounts |
| Productionpersonnel | 1,332 |
| Salespersonnel | 1,543 |
| Technicalpersonnel | 745 |
| Financepersonnel | 118 |
| Administrativepersonnel | 284 |
| Total | 4,022 |
| Compositionofemployeesbyeducationbackground | |
| Educationbackground | Headcounts |
| Doctorate | 6 |
| Master’sdegreeorabove | 550 |
| Bachelor’sdegree | 2,680 |
| Juniorcollegeorbelow | 786 |
| Total | 4,022 |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
2.Remunerationpolicy
Inordertoestablishandimprovethemarket-basedsalarydeterminationmechanismandinternalincentiveandrestraintmechanism,andeffectivelypromotethescientificdevelopmentoftheCompany,theCompanyhasformulatedandpromulgatedtheMeasureofGrossPayrollDeterminationMechanismandManagementofMangoExcellentMediaCo.,Ltd.,whichprovidesdetailedprovisionsonthemethodofdeterminingthegrosspayrolloftheCompany’semployees,reasonableintervals,formula,managementproceduresandsupervisionandinspectionmechanisms.Thismeasurestrictlycomplieswiththerelevantprovisionsofthepolicydocumentsandadherestothebasicprinciplesof“strategicorientation,dual-effectunification,benefitssynergyanddynamicsupervision”.Accordingtothismeasure,theannualgrosspayrollsofemployeesoftheCompanyaredeterminedreasonablybytakingthetotalannualsalaryofprioryearasthebasisandconsideringtheCompany’ssalary-incomeratioandmarketandindustrybenchmark,thecompletionoftheassessmentgoals,therateofvaluepreservationandappreciationofstate-ownedassets,laborproductivity,laborcostproductionratioandotherfactorsinaccordancewiththeCompany’sdevelopmentstrategyandremunerationstrategy,annualproductionandoperationgoals,socialbenefits,economicbenefitsandotherfactors.
3.Trainingplan
TheCompanycontinuouslyestablishesandimprovesasystematicemployeetrainingsystemandcultivationsystem,andcarriesouttrainingworkbycategoriesandlevelstostrengthenthemanagementabilityofmiddleandseniorstaff,improvetheprofessionalabilityofkeypersonnelandthejobskillsofbasicstaff.Intermsofcontent,basedonanin-depthunderstandingofthetrainingneedsofemployees,theCompanyhasdevelopedinterestingandpracticalcoursesforemployeesofdifferentfunctions,andestablishedacomprehensivetrainingsystemcoveringvocationaltraining,theoreticaleducation,professionaltraining,marketing,newtechnology,newmediaoperation,etc.,tosupportthecomprehensivedevelopmentoftheCompany’stalentsandenhancetheCompany’sbrandasanemployerandemployees’senseofbelonging.
4.Outsourcing
√Applicable□N/A
| Totalworkinghoursofoutsourcing(hour | 510,409.11 |
| Totalremunerationpaidforoutsourcing(RMB) | 23,002,981.21 |
XII.TheCompany’sProfitDistributionandCapitalizationofCapitalReserve
PoliciesofprofitdistributionduringtheReportingPeriod,especiallythedevelopment,implementation,oradjustmentofcashdividenddistribution.
√Applicable□N/ADuringtheReportingPeriod,theCompanyimplementedthe2020profitdistributionplanasfollows:anaggregateofRMB231,449,076.43ascashdividendsaredistributedtoallshareholdersatRMB1.3(includingtax)per10sharesbasedonthetotalsharecapitalof1,780,377,511shares,with0bonussharesand0capitalizedsharesinvolved.
| Specialexplanationforcashdividendpolicies | |
| DotheycomplywiththeprovisionsofArticlesofAssociationortherequirementsoftheresolutionsofgeneralmeetingofshareholders? | Yes |
| Aredividendstandardsandratiosclearandexplicit? | Yes |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Aredecision-makingproceduresandmechanismscomplete? | Yes |
| Doindependentdirectorsdiligentlyperformtheirdutiesandplaytheirroles? | Yes |
| Dominorityshareholdershavetheopportunitytofullyexpresstheiropinionsanddemands?Aretheirlegalrightsandinterestsfullyprotected? | Yes |
| Areconditionsandproceduresforadjustedorchangedcashdividendpoliciescompliantandtransparent? | Cashdividendpoliciesarenotadjustedorchanged |
TheCompany’sproposedprofitdistributionplanandproposedcapitalizationofcapitalreserveduringtheReportingPeriodareconsistentwithrelevantprovisionsoftheCompany’sArticlesofAssociationanddividendmanagementmethods.
√Yes□No□N/ATheCompany’sproposedprofitdistributionplanandproposedcapitalizationofcapitalreserveduringtheReportingPeriodareconsistentwithrelevantprovisionsoftheCompany’sArticlesofAssociationandotherregulations.Descriptionoftheprofitdistributionandcapitalizationofcapitalreserve
| Numberofbonussharesdistributedforeach10shares(unit:share) | 0 |
| Amountofdividendsdistributedforeach10shares(inRMB)(includingtax) | 1.30 |
| Numberofsharestransferredfromcapitalreserveeach10shares(unit:share) | 0 |
| Basicnumberofthesharecapitalforthedistributionproposal(unit:share) | 1,870,720,815 |
| Amountofcashdividends(inRMB)(includingtax) | 243,193,705.95 |
| Amountofcashdividendsthroughothermethods(e.g.,repurchaseofshares)(inRMB) | 0.00 |
| Totalcashdividends(includingthosedistributedthroughothermethods)(inRMB) | 243,193,705.95 |
| Distributableprofits(inRMB) | 300,279,430.14 |
| Proportionoftotalcashdividends(includingthosedistributedthroughothermethods)tothetotalprofitsdistributed | 100.00% |
| Cashdividendsdistributedthistime | |
| IftheCompanyisatthegrowthperiodandhasanymajorassetarrangement,thenatthetimeofdistributionofprofits,itscashdividendsshallaccountforatleast20%ofprofitsdistributedthistime. | |
| Descriptionsonproposalofprofitdistributionandcapitalizationofcapitalreserve | |
| TheprofitdistributionproposalwhichisincompliancewiththerelevantprovisionsoftheArticlesofAssociationandthedeliberationprocedures,hasfullyprotectedthelegitimaterightsandinterestsofminorityinvestors,onwhichtheindependentdirectorshaveexpressedtheiragreementopinionindependently. | |
TheCompanyputsforwardnoproposalforcashdividenddistributiondespiteprofitableandpositiveprofitsofitsparentcompanyattributabletoshareholdersduringtheReportingPeriod.
□Applicable√N/A
XIII.ImplementationoftheCompany’sEquityIncentivePlan,EmployeeShareholdingPlanorOtherEmployeeIncentiveMeasures
□Applicable√N/A
MangoExcellentMediaCo.,Ltd.AnnualReport2021
TheCompanyhasnoequityincentiveplan,employeeshareholdingplanorotheremployeeincentivemeasuresaswellastheimplementationthereofduringtheReportingPeriod.XIV.ConstructionandImplementationofInternalControlSystemduringtheReportingPeriod
1.ConstructionandImplementationofInternalControlSystem
DuringtheReportingPeriod,theCompanyconscientiouslycomplieswithalllawsandregulationsaswellastheprovisionsoftheCompany’sinternalcontrolsystemtostandardizeoperations,optimizegovernanceandcontrolrisks.ThroughcomprehensiveimplementationoftheCompany’sinternalcontrolapplicationmanual,theCompanymakescontinuousreviewandevaluationontheimplementationeffectsoftheinternalcontrolsystem,continuestoimproveandoptimizevariousimportantbusinessprocessesinconjunctionwithbusinesschanges,andrevisesandupdatestheinternalcontrolapplicationmanual,inordertoensureitsinternalcontrolmanagementdevelopssynchronouslywithbusinesses,anditsinternalcontrolsystemiscomplete,compliantwithlawsandregulations,effectiveandfeasible.TheAuditDepartmentundertheAuditCommitteeoftheBoardofDirectorsoftheCompanycarriesoutindependentandobjectivesupervisionandevaluationwithintheCompanypursuanttoregulationsandsystemssuchastheBasicStandardsforEnterpriseInternalControl,GuidelinesfortheStandardizedOperationofListedCompaniesonGEM,InternalAuditStandards,theCompany’sAuditManagementSystemandManagementMeasuresforSelf-EvaluationoftheCompany’sInternalControl.InaccordancewiththedeterminationofmaterialweaknessesintheCompany’sinternalcontroloverfinancialreport,theCompanyhasnomaterialweaknessesininternalcontroloverfinancialreportonthebenchmarkdateoftheinternalcontrolevaluationreport,andtheCompanyhasmaintainedeffectiveinternalcontroloverfinancialreportinallmaterialaspectsundertherequirementsofStandardsforEnterpriseInternalControlandrelatedregulations.InaccordancewiththedeterminationofmaterialweaknessesintheCompany’sinternalcontrolovernon-financialreport,theCompanyhasnomaterialweaknessesininternalcontrolovernon-financialreportonthebenchmarkdateoftheinternalcontrolevaluationreport.Therearenofactorsaffectingtheevaluationconclusionoftheeffectivenessofinternalcontrolfromthebenchmarkdateoftheinternalcontrolevaluationreporttotheissuedatethereof.
2.DetailsofmaterialinternalcontroldeficienciesidentifiedduringtheReportingPeriod
□Yes√No
XV.ManagementandControlofSubsidiariesbytheCompanyDuringtheReportingPeriod
| Companyname | Integrationplan | Integrationprogress | Problemsmetinintegration | Resolutionmeasuresadopted | Resolutionprogress | Subsequentresolutionplan |
| HappySunshine | N/A | N/A | N/A | N/A | N/A | N/A |
| HappigoInc. | N/A | N/A | N/A | N/A | N/A | N/A |
| EE-Media | N/A | N/A | N/A | N/A | N/A | N/A |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
XVI.Internalcontrolevaluationreportandinternalcontrolauditreport
1.Internalcontrolself-evaluationreport
| Disclosuredate | April25,2022 | |
| Indexofdisclosure | http://www.cninfo.com.cn | |
| ProportionofthetotalassetsoftheentitiesincludedintheevaluationscopetothetotalassetsrecordedintheCompany’sconsolidatedfinancialstatements | 100.00% | |
| ProportionoftheoperatingincomeoftheentitiesincludedintheevaluationscopetotheoperatingincomerecordedintheCompany’sconsolidatedfinancialstatements | 100.00% | |
| IdentificationStandardofDeficiencies | ||
| Category | FinancialReport | Non-financialReport |
| Qualitativestandard | 1.Generaldeficiencies:otherinternalcontroldeficienciesunderthethresholdofmaterialweaknessandsignificantdeficiencies.2Significantdeficiencies:theselectionandapplicationofaccountingpoliciesinconsistentwiththegenerallyacceptedaccountingstandards;theabsenceofanti-fraudproceduresandcontrolmeasures;theabsenceofappropriatecontrolmechanisms,theabsenceofcompensatorycontrolsorfailureintheimplementationthereoffortheaccountingtreatmentofirregularorspecialtransactions;theexistenceofoneormoredeficienciesinthecontrolofthefinancialreportingprocessattheendoftheperiodandtheabsenceofreasonableassurancethatthefinancialstatementspreparedaretrueandaccurate.3.Materialweakness:fraudactsoftheCompany’sdirectors,supervisors,orofficers;correctionofpublishedfinancialreportsbytheCompany,andmaterialmisstatementsinthecurrentfinancialreportsdetectedbythecertifiedpublicaccountants | 1.Generaldeficiencies:otherinternalcontroldeficienciesunderthethresholdofmaterialweaknessandsignificantdeficiencies.2.Significantdeficiencies:generalmistakesresultingfromdecision-makingprocedures;violationofinternalrulesandregulations,resultinginlosses;deficienciesinsignificantbusinessmechanismsorsystems;significantorgeneraldeficienciesininternalcontrolthathavenotbeenrectified.3.Materialweakness:significantmistakesduetolackofdemocraticdecision-makingproceduresorunscientificdecision-makingprocedures,resultinginsignificantpropertylossestotheCompany;seriousviolationsofnationallawsandregulations;lackofsignificantbusinessmechanisms,orineffectivenessofimplementationthereof;continuousoralargequantityofsignificantinternalcontroldeficienciesintheCompany. |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| butnotidentifiedbytheCompany’sinternalcontrolprocess;ineffectivesupervisionbytheAuditCommitteeandtheinternalauditinstitutiononinternalcontrol. | ||
| Quantitativestandard | 1.Generaldeficiencies:potentialmisstatementoftotalconsolidatedprofit<3%,potentialmisstatementoftotalconsolidatedowner’sequity<0.5%,potentialmisstatementoftotalconsolidatedassets<0.5%,potentialmisstatementoftotalconsolidatedoperatingincome<0.5%.2.Significantdeficiencies,3%≤potentialmisstatementoftotalconsolidatedprofit<5%,0.5%≤potentialmisstatementoftotalconsolidatedowner’sequity<1%,0.5%≤potentialmisstatementoftotalconsolidatedassets<3%,0.5%≤potentialmisstatementoftotalconsolidatedoperatingincome<1%.3.Materialweakness,potentialmisstatementoftotalconsolidatedprofit≥5%,potentialmisstatementoftotalconsolidatedowner’sequity≥1%,potentialmisstatementoftotalconsolidatedassets≥3%,potentialmisstatementoftotalconsolidatedoperatingincome≥1%. | 1.Generaldeficiencies:directpropertylosssubsequenttoconsolidation<0.5%oftotalassetsoftheCompany;2.Significantdeficiencies:0.5%oftotalassetsoftheCompany≤directpropertylosssubsequenttoconsolidation<1%oftotalassetsoftheCompany;3.Materialweakness:1%oftotalassetsoftheCompany≤directpropertylosssubsequenttoconsolidation. |
| Numberofmaterialweaknessoffinancialreports(piece) | 0 | |
| Numberofmaterialweaknessofnon-financialreports(piece) | 0 | |
| Numberofsignificantdeficienciesoffinancialreports(piece) | 0 | |
| Numberofsignificantdeficienciesofnon-financialreports(piece) | 0 | |
2.Auditorassurancereportofinternalcontrol
N/AXVII.RectificationonSelf-examinationProblemsRegardingtheSpecialCampaigntoImprovetheGovernanceofListedCompaniesUnderrelevantrequirementsoftheAnnouncementonLaunchingaSpecialCampaigntoImprovetheGovernanceofListedCompanies(ZhengJianHui[2020]No.69)byChinaSecuritiesRegulatoryCommission(“CSRC”)andtheCircularonLaunchinga
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SpecialCampaigntoImprovetheGovernanceofListedCompanies（XiangZhengJianGongSiZi[2020]No.31)byHunanRegulatoryBureauofCSRC,theCompanyconscientiouslyorganizes,carefullyarrangesandactivelycarriesoutthespecialcampaigntoimprovethegovernanceoflistedcompanies.Throughself-examination,self-correctionandself-regulation,theCompanyhasstrengthenedtheendogenouspowerofcorporategovernanceandimprovedrulesofcorporategovernancesystem,thusagoodecologyofcorporategovernancehasestablished,andalistedcompanygovernancestructurewitheachdepartmenttakingaccountablefortheirowndutiesandresponsibilities,coordinatedoperationandeffectivebalanceshasbeenfurtherimproved,soastosolidifythefoundationoftheCompany’shigh-qualitydevelopment.
1.ChangeoftheBoardofDirectorsProblems:TheCompanydidnotfulfillthedeliberationproceduresforthechangeoftheBoardofDirectorsonthegeneralmeetingofshareholdersasoftheself-examinationreportingdateregardingthespecialcampaigntoimprovethegovernanceoflistedcompanies,thoughthechangeoftheBoardofDirectorsthroughdeliberationhadbeenapprovedonthe30thmeetingofthethirdsessionoftheBoardofDirectorsoftheCompanyduetoexpirationofthethirdsessionoftheBoardofDirectorsoftheCompanyinJune2020.
Rectification:OnMay21,2021,theCompanyheldthe2020generalmeetingofshareholders,inwhichtheCompanyelectedmembersofthefourthsessionoftheBoardofDirectorsoftheCompany.OnJuly5,2021,theCompanyheldthefirstmeetingofthefourthsessionoftheBoardofDirectors,inwhichtheCompanyelectedthechairmanoftheBoardofDirectors,formedanewspecialcommitteeoftheBoardofDirectors,andappointedseniormanagement,thuscompletedmattersofthechangeoftheBoardofDirectors.
2.Attendanceonmeetingsincludinggeneralmeetingofshareholders,andmeetingsoftheBoardofDirectorsandtheBoardofSupervisors
Problems:Somedirectors,supervisorsandexecutiveswereunabletoattendallon-sitegeneralmeetingsofshareholdersduetoobjectivereasonssuchastheCOVID-19.
Rectificationplan:Directors,supervisorsandexecutiveswillattend(observe)orauthorizeotherstoattendgeneralmeetingofshareholders,andmeetingsoftheBoardofDirectorsandtheBoardofSupervisorsinstrictaccordancewiththerelevantregulations.
3.Horizontalcompetition
Problems:MangoMediaCo.,Ltd.,actingastheCompany’scontrollingshareholder,andHunanBroadcastingSystem,actingastheactualcontrolleroftheCompany,havenohorizontalcompetitionsbetweeneachother,andhavemadewrittencommitmentonmattersrelatedtohorizontalcompetitionwiththelistedcompanytoavoidhorizontalcompetitionwiththelistedcompany.However,XiaoXiangFilmGroupandHunanTV&BroadcastIntermediaryCo.,Ltd.,assubordinateenterprisesofGoldenEagleBroadcastingSystemwhichistheintegratedoperatingcompanyoftheactualcontrollerHunanBroadcastingSystem,haveoperatedsimilarbusinesseswiththelistedcompany.
Reasons:InaccordancewithrelevantnoticesandrepliedapprovalsissuedbytheGeneralOfficeoftheCPCHunanProvincialCommittee,theGeneralOfficeofthePeople’sGovernmentofHunanProvinceandtheSpecialPanelforReformofHunanProvincialCulturalSystemfrom2018,theCPCHunanProvincialCommitteeandthePeople’sGovernmentofHunanProvinceproposedtoreorganizetheCPCCommitteeofGoldenEagleBroadcastingSystemtouniversallyleadGoldenEagleBroadcastingSystem,XiaoXiangFilmGroupandHunanBroadcastingInternetHoldingGroup.ItwasagreedthatXiaoXiangFilmGroupandHunanBroadcastingInternetHoldingGroupweremergedintoGoldenEagleBroadcastingSystemtobeitswholly-ownedsubsidiaries,andallinstitutionalassetsownedbyHunanBroadcastingSystemweredivestedandtransferredtoGoldenEagleBroadcastingSystem,sothatthemanagementsystemof“TwoInstitutionsundertheleadershipofoneCPCcommitteeoperatingintegratedly”canrealize,andGoldenEagleBroadcastingSystemcanfurtherdevelop.AftertheintegrationofGoldenEagleBroadcastingSystem,XiaoXiangFilmGroup(filmandtelevisioncontentproductionbusiness)andHunanTV&BroadcastIntermediaryCo.,Ltd.(gamebusiness)underHunanBroadcastingInternetHoldingGrouphavesimilarbusinesseswiththelistedcompany.
Rectificationplan:GoldenEagleBroadcastingSystemhasissuedwrittencommitmentonmattersrelatedtohorizontal
MangoExcellentMediaCo.,Ltd.AnnualReport2021
competitionwiththelistedcompanyduringtheapplicationprocessoftheCompany’s2020non-publicoffering,whichclearlydescribestheplanandscheduleforsolvingthehorizontalcompetitionwithkeydetailsreferringtoSectionVI“I.PerformanceofCommitments”.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionVEnvironmentalandSocialResponsibilityI.SignificantEnvironmentProtectionProblems
WhetherthelistedcompanyanditssubsidiariesareinhighpollutionindustriesregulatedbytheStateDepartmentofEnvironmentalProtection.
□Yes√NoDescriptionofadministrativepenaltiesforenvironmentalproblemsduringtheReportingPeriod
| Companyorsubsidiaries | Reasonsforpenalty | Violationcases | Penaltyresult | Effectsonproductionandoperationofthelistedcompany | Rectificationmeasures |
| N/A | N/A | N/A | N/A | N/A | N/A |
OtherenvironmentinformationdisclosedwithreferencetootherentitiesengagedinhighpollutionindustriesN/AMeasurestakentoreduceitscarbonemissionsandtheireffectivenessduringtheReportingPeriod
√Applicable□N/AFordetails,refertoESGReportseparatelydisclosedbytheCompanyatwww.cninfo.com.cnatthesamedate.ReasonsfornotdisclosingotherenvironmentinformationTheCompanyanditssubsidiariesarenotinhighpollutionindustriesregulatedbytheStateDepartmentofEnvironmentalProtection.DuringtheReportingPeriod,theCompanyanditssubsidiariesreceivesnopenaltiesduetoviolationoflawsandregulationsrelatedtoenvironmentprotection.
II.Descriptionofsocialresponsibilities
Fordetails,referto2021SocialResponsibilityReportseparatelydisclosedbytheCompanyatwww.cninfo.com.cnatthesamedate.III.Descriptionofconsolidatingandexpandingachievementsofpovertyeradicationandruralrevitalization
Fordetails,referto2021SocialResponsibilityReportseparatelydisclosedbytheCompanyatwww.cninfo.com.cnatthesamedate.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionVIImportantEvents
I.PerformanceofCommitments
1.CommitmentscompletedduringtheReportingPeriodornotcompletedasoftheendoftheReportingPeriodbyactualcontrollers,shareholders,relatedparties,purchaser,theCompany,orothersrelatingtocommitments
√Applicable□N/A
| Sourcesofcommitments | Promiser | Type | Content | Date | Deadline | Performance |
| CommitmentsmadeintheAcquisitionReportorEquityChangeReport | ||||||
| Commitmentsmadeatthetimeofassetsrestructuring | MangoMediaCo.,Ltd. | CommitmentsonShareLock-up | 1.Withinthirty-sixmonthsoftheendofthisoffering,wewillnottransferthelistedcompany’ssharesacquiredbyusinthisrestructuringinanyform,includingbutnotlimitedtothepublictransferthroughsecuritiesmarketortransferbyagreement,norwillweentrustotherswithmanagementofthelistedcompany’ssharesheldbyus.Withinsixmonthsofcompletionofthisrestructuring,ifthedailyclosingpriceofthelistedcompany’ssharesislowerthantheissuepricefortwentyconsecutivetradingdays,orthedailyclosingpriceofthelistedcompany’ssharesattheendofasix-monthperiodislowerthantheissueprice,thenthelock-upperiodofthelistedcompany’ssharesacquiredbyusinthisrestructuringwillautomaticallyextendedforsixmonths;2.Theaforesaidsharelock-uparrangementsshallalsoapplytotheincreaseinholdingsofconsiderationsharesacquiredbyusinthisrestructuringduetoplacementofshares,bonussharedistributionandcapitalizationofcapitalreservebythelistedcompanyandotherreasonswithinthelock-upperiod;3.Iftheaforesaidcommitmentsonthelock-upperiodareinconsistentwiththelatestregulatoryopinionsissuedbythesecuritiesregulatoryauthority,thenweagreetomakeadjustmentsaccordinglypursuanttotheregulatoryopinionsissuedbythecompetentsecuritiesregulatoryauthority;aftertheexpiryoftheaforesaidlock-upperiod,therelevantregulationsofCSRCandShenzhenStockExchangeshallapply;4.Ifwearesuspectedof | July12,2018 | July12,2021 | Fulfilledthecommitments,butlistingandcirculatingproceduresforrestrictedsharesnotcommencedbytheshareholder |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| providingordisclosinganyinformationcontainingmisrepresentations,misleadingstatementsormaterialsomissionsinthistransactionandarethereforeinvestigatedbythejudicialauthorityortheCSRC,wewillnottransferthebeneficialinterestheldbyusinthelistedcompanybeforetheinvestigationconclusionofthecaseisdetermined. | |||||
| HunanBroadcastingSystem;MangoMediaCo.,Ltd. | CommitmentsonAvoidingHorizontalCompetition,Related-partyTransactionsandFundUse | Inordertoavoidthehorizontalcompetitionwiththelistedcompany,MangoMediaandHunanBroadcastingSystemhaverespectivelyissuedtheirownLetterofCommitmentsonAvoidingHorizontalCompetition,undertakingthat,duringtheperiodofactingasthecontrollingshareholderandactualcontrollerofthelistedcompany,“1.Weandthechannelsandcompaniescontrolledbyusarenotengagedinanybusinessoractivityinanyformthatcompetesorwouldcompetewiththebusinessofthelistedcompanyand/oritscontrolledcompanies,directlyorindirectly.2.Aftercompletionofthisrestructuring,wewilltakeandprocurethechannelsandcompaniescontrolledbyustotakeeffectivemeasurestoavoid:(1)engaginginanybusinessoractivitiesdirectlyorindirectlyinanyformthatcompetesorwouldcompetewiththebusinessofthelistedcompanyand/oritscontrolledcompanies,orholdinganyinterestsorbenefitsinsuchbusiness;(2)supportinginanyformanyotherpersonsotherthanthelistedcompanyand/oritscontrolledcompaniesinengagementinanybusinessoractivitythatcompetesorwouldcompetewiththebusinessbeingconductedortobeconductedbythelistedcompanyand/oritscontrolledcompanies.3.Ifweandthechannelsandcompaniescontrolledbyushaveanycommercialopportunitytoengage,joinorparticipateinanybusinessoractivitythatwouldcompetewiththebusinessofthelistedcompanyand/oritscontrolledcompanies,thenthelistedcompanyand/oritscontrolledcompanieswillhaveaprioritywithrespecttotheaforesaidcommercialopportunities.4.Ifweandthechannelsandcompaniescontrolledbyuscompeteswiththatofthelistedcompanyanditscontrolledenterprise,thenweandthechannelsandcompaniescontrolledbyuswillceaseengaginginanybusinesssimilarwithoridenticalwiththeprincipalbusinessofthelistedcompanyand/oritscontrolledcompaniestoavoidthehorizontalcompetitionbystoppingconductoftherelevantcompetitivebusiness,includingtherelevantcompetitivebusinessinthatofthelistedcompanyortransferringtherelevantcompetitivebusinesstoanyunrelatedthirdparty.5.Weagreetobearandbeliableforalllosses,damageandcostscausedtothelistedcompanyand/oritscontrolledcompaniesduetobreachoftheaforesaidcommitments.” | July12,2018 | Long-term | Ongoing |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| HunanBroadcastingSystem;MangoMediaCo.,Ltd. | CommitmentsonAvoidingHorizontalCompetition,Related-partyTransactionsandFundUse | Inordertoreduceandregulatetherelated-partytransactionsandsafeguardthelegalrightsandinterestsofHappigoandminorityshareholders,HunanBroadcastingSystemandMangoMediahaveissuedtheLetterofCommitmentsonRegulatingRelated-partyTransactionswiththecontentsasfollows:weandthechannelsandotherpublicinstitutionsoreconomicorganizationscontrolledbyuswilltakemeasurestoavoiddealingwiththerelated-partytransactionswiththelistedcompanyanditscontrolledcompaniesasfaraspossible;regardingtherelated-partytransactionsthatcannotbeavoidedoraredefinitelynecessary(includingbutnotlimitedtoproducttransactions,mutualofferofservices/laborandetc.),weundertakethatwewillfollowandurgethechannelsandotherpublicinstitutionsoreconomicorganizationscontrolledbyustofollowtheprinciplesofmarketfairness,justiceandopenness,legallysignagreementsandperformthelegalproceduresinaccordancewiththeprovisionsonthedecision-makingandabstentionofrelated-partytransactionsoftherelevantlawsandregulations,normativedocumentsandthelistedcompanytoguaranteethefairnessandcomplianceoftherelated-partytransactions,willnotharmthelegitimaterightsandinterestsofshareholdersofthelistedcompanyanditscontrolledsubsidiariesaswellasshareholdersofthelistedcompanythroughrelated-partytransactions,andwillpromptlydisclosetheinformationasrequiredbytherelevantlawsandregulationsandnormativedocuments;weandthechannelsandotherpublicinstitutionsoreconomicorganizationscontrolledbyuswilleliminateanyillegaluseofassetsandfundsofthelistedcompany.Ifaforesaidcommitmentsarebreached,wearewillingtoassumealllegalresponsibilitiesarisingtherefrom. | July12,2018 | Long-term | Ongoing | |
| CommitmentsmadeatthetimeofIPOorre-financing | Aegon-industrialFundManagementCo.,Ltd.;ZhongouAssetManagementCo.,Ltd.;ChinaMobileCapitalHoldingCo.,Ltd. | CommitmentsonShareLock-Up | Thesharespurchasedbytheissuancetargetshallnotbetransferredwithin6monthssinceendoftheissuance.Fromendofthisissuancetoexpiryoflock-upperiod,anysharesaddedtothesharespurchasedbytheissuancetargetduetobonusissueorsharecapitalconvertedfromcapitalreservesshallalsocomplywithaforesaidlock-uparrangement. | August24,2021 | February24,2022 | Performancecompleted |
| MangoExcellent | OtherCommitments | 1.Duringsixmonthspriortothedateofboardresolutionconcerningthisissuanceandtilltoday,theCompanydidnot | December25, | Long-term | Ongoing |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| MediaCo.,Ltd. | investinanysimilarfinancialbusiness;fromthedateofissuingletterofcommitment(December25,2020)tothedatewhenthecapitalsraisedthistimearetotallyusedorduring36monthsafterraisedcapitalsareavailable,theCompanyundertakestonotaddinvestmentinanysimilarfinancialbusiness(includingcapitalincrease,loan,securityandotherformsofinvestment);2.AsatthedateofthisAnnouncement,theCompanyholds100%ofequitiesofHunanHappyMoneyMicrofinanceCo.,Ltd.(hereinafter“HappyMoney”),theCompanywillcompletedisposeofsmallloanbusinessofHappyMoneythroughdissolutionandliquidation,terminationofbusinessortransferringequitiestoqualifiedentitywithinsixmonthsafterletterofcommitmentsisissued,andtheCompanywillnolongerbeengagedinsmallloanbusiness. | 2021 | |||
| GBS | CommitmentsonAvoidingHorizontalCompetition,Related-partyTransactionsandFundUse | (1)Asatthedateofissuingletterofcommitments,GBSandchannelsorenterprisescontrolledbyithavenotcarriedouthorizontalcompetitionwhichhasmaterialadverseeffectontheIssuerand/orenterprisescontrolledbyit.(2)Within5yearsaftercompletingthisOffering,GBSandchannelsorenterprisescontrolledbyitwillsettletheissueofhorizontalcompetitionconcerningtheIssuerbyvariousmeanssuchasentrustedmanagement,assetsrestructuring,businessadjustment/terminationandassetstransfer/sale,andimplementmeasuresrelatedtobusinessintegration,inaccordancewithlaws,policies,articlesofassociationorsimilarorganizationaldocumentsofsuchchannelsorenterprise,withaviewtobenefitbusinessdevelopmentoftheIssuerandsafeguardbenefitsofshareholdersoftheIssuer;(3)GBSwill,andprocurethatchannelsandenterprisescontrolledbyitwill,adopteffectivemeasuresto:(i)avoidaddingotherbusinessconstitutinghorizontalcompetitionwiththeIssuerand/orenterprisescontrolledbyitbeforesettlingexistingissueofhorizontalcompetition;(ii)nottosupportanyotherpersoninengaginganybusinessoractivitieswhichcompeteormaycompetewiththebusinessdealtinbytheIssuerand/orenterprisescontrolledbyitcurrentlyorinfuture.(4)IfGBSandchannelsorenterprisescontrolledbyithaveanybusinessopportunityofcarryingout,participatinginorholdsequitiesinanybusinessoractivitywhichmaycompetewiththebusinessdealtinbytheIssuerand/orenterprisescontrolledbyit,theIssuerand/orenterprisescontrolledbyitshallhavepreferredrightswithrespecttosuchbusinessopportunity.(5)GBSagreestobearandcompensatealllosses,damagesandexpensesincurredbytheIssuerand/orenterprisescontrolledbyitduetobreachofaforesaid | September25,2020 | Long-term | Ongoing |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| commitmentsbyGBS. | |||||
| HunanBroadcastingSystem;MangoMediaCo.,Ltd. | OtherCommitments | (1)WecommitthatwewillnotinterfereintheCompany’soperationandmanagementactivitiesbeyondourauthority,norwillweencroachontheCompany’sinterests;(2)FromthedatehereoftothecompletionoftheCompany’sissuanceofA-sharesharestospecificpersons,ifsecuritiesregulatoryauthoritiessuchastheCSRCandShenzhenStockExchangemakeseparateprovisionsorputforwardotherrequirementsontherecoverymeasuresforreturnsandthecommitmentsthereon,andtheabovecommitmentscannotmeetsuchprovisions,wewillthenmakesupplementarycommitmentsinaccordancewiththelatestprovisions;(3)WewilleffectivelytakerelevantrecoverymeasuresforreturnsformulatedbytheCompanyandfulfillourcorrespondingcommitmentsonrecoverymeasuresforreturns.Besides,wewill,incaseofviolatingorrefusingtofulfilltheabovecommitments,undertakethecorrespondingobligationsofexplanation,apologyandsooninaccordancewiththerelevantprovisions,andwillbeliableforcompensationasappropriateaccordingtolawiflossesarethuscausedtotheCompanyoritsshareholders. | September25,2020 | Long-term | Ongoing |
| CAIHuaijun;HEJin;LIANGDeping;LIUXin;LIUYuhui;LUOWeixiong;TANGLiang;WANGKe;WUJun;XIAOXing;ZHANGHuali;ZHANGYong;ZHENGHuaping;ZHONGHongming | OtherCommitments | (1)IwillfaithfullyanddiligentlyperformmydutiesandsafeguardthelegitimaterightsandinterestsoftheCompanyandallshareholders;(2)Iwillnottotransferbenefitstootherentitiesorindividualsfreeofchargeorunderunfairconditions,norotherwisedamagetheCompany’sinterests;(3)Iwillrestrictmyposition-relatedconsumption;(4)IwillnotusetheCompany’sassetstoengageininvestingorconsumptionactivitiesirrelevanttoperformanceofmyduties;(5)IwillprocurethelinkageofthecompensationsystemformulatedbytheboardofdirectorsortheremunerationandappraisalassessmentcommitteewiththeimplementationoftheCompany’srecoverymeasuresforreturnswithinmylegalauthority;(6)iftheCompanysubsequentlyimplementstheequityincentiveplan,IwillprocurethelinkageofexerciseconditionsfortheCompany’sequityincentivestobeannouncedwiththeimplementationoftheCompany’srecoverymeasuresforreturnswithinmylegalauthority;(7)fromthedatehereoftothecompletionoftheCompany’sissuanceofA-sharesharestospecificpersons,ifsecuritiesregulatoryauthoritiessuchastheCSRCandShenzhenStockExchangemakeseparateprovisionsorputforwardotherrequirementsontherecoverymeasuresforreturnsandthecommitmentsthereon,andtheabovecommitmentscannotmeetsuchprovisions,Iwillthenmakesupplementarycommitmentsinaccordancewiththelatestprovisions;(8)Iwilleffectivelytakerelevantrecoverymeasures | September25,2020 | Long-term | Ongoing |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| forreturnsformulatedbytheCompanyandfulfillmycorrespondingcommitmentsonrecoverymeasuresforreturns.Besides,Iwill,incaseofviolatingorrefusingtofulfilltheabovecommitments,undertakethecorrespondingobligationsofexplanation,apologyandsooninaccordancewiththerelevantprovisions,andwillbeliableforcompensationasappropriateaccordingtolawiflossesarethuscausedtotheCompanyoritsshareholders. | |||||
| MangoMediaCo.,Ltd. | CommitmentsonReducingShareholdings | (1)IfitintendstoreducethesharesoftheCompanyheldbyitafterexpiryoflock-upperiod,itshallreduceaccordingtorelevantlaws,andmakeannouncementthroughtheCompany3tradingdaysbeforereducing.ThetotalnumberofsharesoftheCompanyreducedbyitwithintwoyearsafterexpiryoflock-upperiodshallnotexceed5%oftotalsharesheldbyitatthetimeofIPO,andthepriceatwhichsharesarereducedshallnotbelessthan100%ofpriceofIPO.Ifsharesarereducedtwoyearsafterexpiryoflock-upperiod,thepriceatwhichsharesarereducedthroughcallauctiontradingsystemofsecuritiesexchangeshallnotbelessthanclosingpriceofsharesinthetradingdayimmediatelyprecedingthesharereductionannouncementday.(2)Theperiodofsharereductionissixmonthsafterannouncingreductionplan;ifintendingtocontinuetoreduceshareholdingafterexpiryofaforesaidperiod,thereductionplanshallbeannouncedagainaccordingtoaforesaidarrangement. | January21,2015 | Long-term | Ongoing |
| HongyiInvestmentIndustryPhaseIFund(Tianjin)(L.P.);MianyangScienceandTechnologyIndustryInvestmentFund(L.P.);TianjinHongshanCapitalInvestmentFundCenter(L.P.) | CommitmentsonReducingShareholdings | HongyiInvestmentIndustryPhaseIFund(Tianjin)(L.P.)(“HongyiInvestment”),MianyangScienceandTechnologyIndustryInvestmentFund(L.P.)(“MianyangFund”),TianjinHongshanCapitalInvestmentFundCenter(L.P.)(“HongshanCapital”),asotherexistingshareholdersoftheCompany,makethefollowingcommitmentswithrespecttotheintentiontoreduceshareholdings:(1)Wewillnottransferorentrustotherswithmanagementofanypre-IPOsharesoftheissuerheldbyus,norproposetherepurchaseofsuchsharesbytheCompanywithintwelvemonthsfromthelistingdateoftheissuer.(2)IfweintendtoreduceourshareholdingsintheCompanyaftertheexpiryofthelock-upperiodofsharesheldbyusintheCompany,wewilllegallydosame,andmakeapublicannouncementwithinthreetradingdayspriortoreductionthroughtheCompany.TheshareholdingsofHongyiInvestment,MianyangFund,HongshanCapitalwereduceinaggregatewithintwoyearsaftertheexpiryofthelock-upperiodwillequaltotheissuer’ssharesheldintotalbyusandthereductionpricewillnotlowerthan80%oftheIPOpriceoftheCompany.Thereductionperiodwillbesixmonthsafterthepublicannouncementofthereductionplan,andifwe | January21,2015 | January21,2018 | MianyangFundandHongshanCapitaldisclosedonNovember19,2016andHongyiInvestmentdisclosedonDecember10,2016theAnnouncementonPromptofShareholdingsReductionPlanforShareholdersHolding5%orMoreofSharesPriortoIPOthroughthe |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| continuetoreduceourshareholdingsafterexpiryofthereductionperiod,wewillmakethepublicannouncementanewinaccordancewiththeaforesaidarrangements.DuringtheperiodfromthelistingoftheCompany’ssharesuntilreductionofshareholdings,iftheCompanyhaspaiddividends,givenbonusshares,capitalizedcapitalreserve,issuednewsharesorhadotherex-rightandex-dividendmatters,thefloorreductionpriceandnumberofreducedshareswillbeadjustedaccordingly.IftheCompany’sshareholdersfailtofulfillthesecommitments,theproceedsfromreductionofshareholdingsintheCompanywillbelongtothelistedCompany. | Company,andasoftheendof2017,allofthemhavecompletedreductionoftheirshareholdings. | ||||
| MangoExcellentMediaCo.,Ltd. | CommitmentsonDistributingDividends | TheCompanycommitstoimprovingtheprofitdistributionsystem,inparticularcashdividendspolicy.TheCompanyimprovedtheArticlesofAssociations(Draft)atthe1stextraordinarygeneralmeetingofshareholdersin2014,stipulatingtheCompany’sprofitdistributionpolicy,theproceduresofdecision-makingandimplementationoftheprofitdistributionpolicy,preparationandadjustmentmechanismoftheprofitdistributionpolicy,andtheplanforshareholders’dividendreturnsinordertoenhancetheprotectionoverminorityshareholders.TheArticlesofAssociations(Draft)furtherdefinestheCompany’sprofitdistribution,especiallythespecificconditions,percentages,andformsofthecashdividenddistributionaswellastheconditionsofthebonussharedistribution,andclarifiesthatthecashdividendsaresuperiortobonusshares;andtheCompanypreparedthePlanonDividendReturnsfortheComingThreeYearsofHappigoInc.tofurtherimplementtheprofitdistributionsystem. | January21,2015 | Long-term | Ongoing |
| HunanBroadcastingSystem;MangoMediaCo.,Ltd. | CommitmentsonAvoidingHorizontalCompetition,Related-partyTransactionsandFundUse | (I)Commitmentsonavoidinghorizontalcompetition:1.ControllingShareholder:MangoMedia,asthecontrollingshareholderoftheCompany,issuedtheLetterofCommitmentsonAvoidingHorizontalCompetition.(1)MangoMediaanditsothersubordinateenterprisesotherthantheIssuerarenotengagedinanybusinessoractivityinanyformthatcompetesorwouldcompetewiththebusinessoftheIssuerand/oritssubordinateenterprisesdirectlyorindirectly.(2)MangoMediawilltakeandprocureanyenterprisescontrolledbyMangoMediatotakeeffectivemeasurestoavoid:(A)engaginginanybusinessoractivitiesdirectlyorindirectlyinanyformthatcompetesorwouldcompetewiththebusinessoftheissuerand/oritssubordinateenterprisesdirectlyorindirectly,orholdinganyinterestsorbenefitsinsuchbusiness;(B)supportinganyotherpersonsotherthantheIssuerand/oritssubordinateenterprisesinanyforminengagementinanybusinessoractivitythatcompetes | January21,2015 | Long-term | Ongoing |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| commercialopportunities.MangoMediaagreestobearandbeliableforalllosses,damageandcostscausedtotheIssueranditssubordinateenterprisesduetobreachoftheaforesaidcommitments.HunanBroadcastingSystemagreestobearandbeliableforalllosses,damageandcostscausedtotheissueranditssubordinateenterprisesduetobreachoftheaforesaidcommitments.(II)LetterofCommitmentsonAvoidingFundUse:ThecontrollingshareholdersandactualcontrollersoftheCompanyundertakethat:theywillstrictlycomplywiththeprovisionsofthelaws,regulations,normativedocumentsandtheCompany’srelevantrulesandsystems,notappropriateorusetheCompany’sassetsorresourcesinanyform,nordoanythingdirectlyorindirectlywhichharmsorwouldharmtheinterestsoftheCompanyandothershareholders.IftherightsandinterestsoftheCompanyorothershareholdersareharmedduetoviolationsoftheaforesaidcommitmentsandundertakings,thecontrollingshareholdersandactualcontrollerswillbeliableforcompensationaccordingtolaw. | |||
| Commitmentsonequityincentives | |||
| OthercommitmentsmadetotheCompany’sminorityshareholders | |||
| Fulfillthecommitmentsontimeornot | Yes | ||
2.ExplanationoftheoriginalprofitestimatewithrespecttotheassetsorprojectsoftheCompanyandreasonsforrealizationiftheCompanymakesaprofitestimateforitsassetsorprojectswhichisstillinprogressduringtheReportingPeriod
□Applicable√N/AII.Appropriationofnon-operatingfundsoftheListedCompanybythecontrollingshareholderandotherrelatedparties
√Applicable□N/A
In:RMB0’000
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Shareholdersorrelatedparties | Typeofrelatedrelationship | Appropriationperiod | Reasonforappropriation | Openingbalance | NewappropriatedamountduringtheReportingPeriod | Proportionofthelatestauditednetassets | TotalrepaymentsduringtheReportingPeriod | Closingbalance | Proportionofthelatestauditednetassets | Balanceasofthedisclosuredateoftheannualreport | Estimatedrepaymentmethod | Estimatedrepaymentamount | Estimatedrepaymenttime(month) |
| ShanghaiMammaMiaInteractiveEntertainmentTechnologyCo.,Ltd. | Others | 5years | Borrowingsforproductionandoperation | 262.97 | 0 | 0.00% | 0 | 262.97 | 0.02% | 262.97 | Cashsettlement | 262.97 | May2026 |
| Total | 262.97 | 0 | 0.00% | 0 | 262.97 | 0.02% | 262.97 | -- | 262.97 | -- | |||
| Relevantdecisionprocedures | InordertosupportthebusinessdevelopmentofShanghaiMammaMiaInteractiveEntertainmentTechnologyCo.,Ltd.(“MammaMia”)whichwasoriginallyawholly-ownedsubsidiaryofHappyNews,MammaMiawouldbesupportedwithliquidityfromHappyNewsthroughHappyNews’internalapprovalanddecision-makingprocess. | ||||||||||||
| Reasonsfornewappropriationofnon-operatingfundsbycontrollingshareholdersandotherrelatedpartiesanddescriptionoftheresponsiblepersons’accountabilityandproposedmeasuresbytheBoardofDirectorsinthecurrentperiod | N/A | ||||||||||||
| Reasonsforfailuretosettleappropriatednon-operatingfundsasplanned,anddescriptionofaccountabilityandproposedmeasuresbytheBoardofDirectorsinthecurrentperiod | InDecember2016,HappyNewstransferred70%oftheequitysharesofMammaMiaexternally(tononcontrollingshareholdersandtheiraffiliates),sothatMammaMiawasnolongerincludedinthescopeofconsolidationofHappyNews.Atpresent,HappyNewsstillholds24.25%oftheequitysharesofMammaMia.InordertoensurestabledevelopmentofMammaMia,HappyNewsandMammaMiasignedRepaymentPlan,whichstipulatesmonthlyrepaymentofRMB50,000sinceJanuary2022,untiltheloanispaidoff. | ||||||||||||
| Specialreviewopinionsonappropriationoffundsgivenbyaccountingfirm | Pan-ChinaCertifiedPublicAccountantsLLPbelievesthatthesummarysheetpreparedbymanagementofMangoExcellentMediacomplieswiththeprovisionsofGuidelineNo.8onRegulationofListedCompanies–RegulatoryRequirementsonFundTransferandExternalGuaranteeofListedCompanies(CSRCAnnouncement(2022)No.26)andGuidelineNo.1onSelf-disciplineRegulationofCompaniesListedattheGrowthEnterpriseMarketoftheShenzhenStockExchange–BusinessHandling(SZS(2022)No.28)inallmaterialaspects,trulyreflectingappropriationofnon-operatingfundsandtransferofotherrelatedcapitalsofMangoExcellentMediain2021. | ||||||||||||
| Reasonsforinconsistencybetweenappropriationofnon-operatingfundsbythecontrollingshareholderandotherrelatedpartiesdisclosedintheCompany’sannualreportandthatinthespecialauditopinion | N/A | ||||||||||||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
III.ExternalGuaranteesinViolationofRegulations
□Applicable√N/ATheCompanyhasnoexternalguaranteesinviolationofregulationsduringtheReportingPeriod.IV.ExplanationsfromtheBoardofDirectorsforthe“ModifiedAuditor’sReport”IssuedMostRecently
□Applicable√N/A
V.ExplanationsfromtheBoard,theBoardofSupervisors,theIndependentDirectors(ifany)forthe“ModifiedAuditor’sReport”IssuedbytheEngagedAccountingFirmDuringtheReportingPeriod
□Applicable√N/A
VI.ExplanationfromtheBoardforReasonsandEffectsofAccountingPoliciesandAccountingEstimateChangeandSignificantAccountingMistakeCorrection
√Applicable□N/A
1.ReasonsforchangesOnDecember7,2018,theMinistryofFinanceissuedtheNoticeonIssuingtheRevisedAccountingStandardsforBusinessEnterprisesNo.21-Leases(CaiKuai[2018]No.35),requiringthatenterpriseslistedconcurrentlyathomeandabroadandenterprisesthatarelistedabroadandpreparefinancialstatementsbyadoptingtheInternationalFinancialReportingStandardsortheAccountingStandardsforBusinessEnterprisesshallimplementtherevisedstandardsasofJanuary1,2019;otherthatadopttheAccountingStandardsforBusinessEnterprisesshallimplementthesameasofJanuary1,2021.Asadomesticlistedcompany,theCompanyshallimplementthesaidrevisedstandardsfromJanuary1,2020,andadjusttheoriginalaccountingpoliciesaccordingly.
2.AccountingpoliciesbeforethischangeBeforethischange,theCompanyimplementeditsaccountingpoliciesinaccordancewiththeAccountingStandardsforBusinessEnterprises-BasicStandardsissuedbytheMinistryofFinanceaswellasthespecificaccountingstandards,theapplicationguidelines,andinterpretationstoaccountingstandardsforbusinessenterprisesandotherrelevantprovisions.
3.AccountingpoliciesafterthischangeAfterthischange,theCompanywillimplementtherelevantprovisionsoftheAccountingStandardsforBusinessEnterprisesNo.21-LeasesrevisedbytheMinistryofFinanceonDecember7,2018.Inadditiontotheaboveaccountingpolicychanges,theremainingunchangedpartsarestillimplementedinaccordancewiththeAccountingStandardsforBusinessEnterprises–BasicStandardsissuedbytheMinistryofFinancepreviously,aswellasthespecificaccountingstandards,theapplicationguidelines,andinterpretationstoaccountingstandardsforbusinessenterprisesandotherrelevantprovisions.
4.EffectsofChangeTheCompanyhasimplementedthenewleasingstandardsinceJanuary1,2021.Inaccordancewiththeprovisionsforthetransitionfromtheoldstandardtothenewstandard,theCompanymayadjusttheopeningamountsofrelevantitemsofthefinancialstatementsbasedonthecumulativeeffectofthefirstimplementationofthestandard,andcannotmakeanyadjustmentsoninformationforthecomparableperiods.ThischangeinaccountingpolicieswillbringnosignificantimpactsontheCompany’sfinancialposition,operationresultsandcashflows.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
VII.ExplanationforChangesintheScopeofConsolidatedFinancialStatementsComparingwithThoseinPriorYear
√Applicable□N/ADuringtheReportingPeriod,HainanE.E.MediaCo.,Ltd.andShanghaiMangoUniverseCultureandEntertainmentCo.,Ltd.arenewlyestablished,whileHappigo(Beijing)NewMediaTechnologyCo.,Ltd.andHangzhouHemeiInteractiveEntertainmentTechnologyCo.,Ltd.arederegistered;andsharesofHunanHappyMoneyMicrofinanceCo.,Ltd.,aretransferredoutin100%,whilesharesofShenzhenZhongheBoaoTechnologyDevelopmentCo.,Ltd.areacquiredin100%.Fordetails,see“VIII.ChangesinScopeofConsolidationinSectionXFinancialReport”hereof.VIII.EngagementandDismissaloftheAccountingFirm
Currentcertifiedpublicaccountants
| Domesticcertifiedpublicaccountants | Pan-ChinaCertifiedPublicAccountantsLLP |
| Remunerationpaidtothedomesticcertifiedpublicaccountants(inRMB0’000) | 198 |
| Auditperiodofthedomesticaccountingfirm | 6 |
| Nameoftheengagedcertifiedpublicaccountants | LIUGangyue,ZHANGHong |
| Auditperiodoftheengagedcertifiedpublicaccountants | 1yearforLIUGangyueand4yearsforZHANGHong |
Whetherthecertifiedpublicaccountantischanged
□Yes√NoDescriptionofengagingcertifiedpublicaccountants,financialadviser,orsponsorforinternalcontrol
√Applicable□N/ADuringtheyear,theCompanyengagedChinaInternationalCapitalCorporationLimitedasitssponsorduetonon-publicofferingofstocks,andpaidRMB14millionintotalastheunderwritingfeesinsuchperiod.
IX.DelistingSubsequenttotheDisclosureoftheAnnualReport
□Applicable√N/AX.BankruptcyandReorganization
□Applicable√N/ATheCompanyhasnomatterswithrespecttobankruptcyandreorganizationduringtheReportingPeriod.XI.MaterialLitigationorArbitration
□Applicable√N/ATheCompanyinvolvesinnomateriallitigationorarbitrationduringtheReportingPeriod.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
XII.PenaltyandRectification
□Applicable√N/ATheCompanyhasnopenaltyandrectificationduringtheReportingPeriod.XIII.IntegrityoftheCompanyandItsControllingShareholdersandactualcontrollers
□Applicable√N/A
XIV.SignificantRelated-partyTransactions
1.Related-partytransactionsrelatedtodailyoperations
√Applicable□N/A
| Relatedparty | Relatedpartyrelationship | Type | Content | Pricingprinciple | Price | Amount(inRMB0’000) | Proportionofsimilartradingamount | Approvedtradingamount(inRMB0’000) | Exceedtheapprovedamountornot | Modeofsettlement | Availablemarketpriceofsimilartransactions | Disclosuredate | Disclosureindex |
| GoldenEagleBroadcastingSystem | Undercommoncontrolofthesameactualcontroller | Acceptanceoflaborservice | Copyright,etc. | Marketpricing | 73,295.92 | 73,295.92 | 7.40% | 70,031 | Yes | Bytransfer | 73,295.92 | April26,2021 | Publishedathttp://www.cninfo.com.cn;AnnouncementTitles:AnnouncementontheOccurrenceofRelated-partyTransactionsConcerningDailyOperationsin2020andEstimationofRelated-partyTransactionsConcerningDailyOperationsin2021,AnnouncementonIncreasingtheEstimatedAmountofRelated-partytransactionsConcerningDailyOperationsin2021,andAnnouncementon |
| GoldenEagleBroadcastingSystem | Undercommoncontrolofthesameactualcontroller | Renderingoflaborservice | Advertisingrelease,etc. | Marketpricing | 168,414.52 | 168,414.52 | 10.97% | 151,200 | Yes | Bytransfer | 168,414.52 | April26,2021 | |
| YunhongCommunicationTechnology(Guangzhou)Co.,Ltd. | Companymateriallyaffectedbytheactualcontroller | Renderingoflaborservice | Advertisingrelease | Marketpricing | 76,596.83 | 76,596.83 | 4.99% | 77,900 | None | Bytransfer | 76,596.83 | April26,2021 | |
| HunanTVBusinessOperationDevelopmentCo.,Ltd. | Undercommoncontrolofthesameactual | Renderingoflaborservice | Advertisingrelease | Marketpricing | 67,343.87 | 67,343.87 | 4.39% | 66,458 | Yes | Bytransfer | 67,343.87 | April26,2021 |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| controller | AdjustingtheEstimatedAmountofRelated-partytransactionsConcerningDailyOperationswithMIGUCultureTechnologyCo.,Ltd.in2021 | ||||||||||||
| MIGUCultureTechnologyCo.,Ltd. | Sharingthekeymanager | Renderingoflaborservice | Operatorrevenue | Marketpricing | 165,053.22 | 165,053.22 | 10.75% | 170,000 | None | Bytransfer | 165,053.22 | April26,2021 | |
| Total | -- | -- | 550,704.36 | -- | 535,589 | -- | -- | -- | -- | -- | |||
| Detailsofreturnofgoodsinlargesales | None. | ||||||||||||
| Actualperformanceduringthereportingperiod(ifany)intheeventthatthetotalamountofthedailyrelated-partytransactionstooccurinthecurrentperiodisexpectedbycategories | None. | ||||||||||||
| Reasonsforthelargedifferencebetweenthetradingpriceandthemarketreferenceprice(ifapplicable) | N/A | ||||||||||||
2.Related-partytransactionsrelatedtoacquisitionordisposalofassetsandequities
√Applicable□N/A
| RelatedParty | Relatedpartyrelationship | Type | Content | Pricingprinciple | Carryingamountoftransferredassets(RMB0’000) | Appraisalvalueoftransferredassets(RMB0’000) | Transferprice(RMB0’000) | Modeofsettlement | Tradingprofitorloss(RMB0’000) | Disclosuredate | Disclosureindex |
| MangoMediaCo.,Ltd. | Parentcompany | Equitytransfer | 100%equitysharesofHunanHappyMoneyMicrofinanceCo.,Ltd. | Appraisalvalue | 30,347.9 | 30,424.97 | 30,424.97 | Bytransfer | 77.07 | June25,2021 | Publishedattheofficialwebsiteofcninfo;AnnouncementonTransferof100%EquitySharesofaWholly-ownedSubsidiary |
| Reasonsforsignificantdifferencebetweentransferpriceandcarryingamountorappraisalvalue(ifany) | None. | ||||||||||
| ImpactontheCompany’soperatingresultsandfinancialsituation | AnamountofRMB770,700wasrecognizedforinvestmentincomefromequitytransferatthelevelofconsolidatedfinancialstatements,accountingfor0.04%ofthenetprofitinthe | ||||||||||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| consolidatedstatements. | |
| TheperformancerealizationduringtheReportingPeriodiftherelatedpartytransactioninvolvesperformanceagreement | None. |
3.Related-partytransactionsrelatedtojointexternalinvestment
□Applicable√N/ATheCompanyhasnorelated-partytransactionsrelatedtojointexternalinvestmentduringtheReportingPeriod.
4.Creditsanddebitswithrelatedparties
√Applicable□N/AWherethereisanynon-operatingcreditsanddebitswithrelatedparties
□Yes√NoTheCompanyhasnonon-operatingcreditsanddebitswithrelatedpartiesduringtheReportingPeriod.
5.Transactionswithfinancecompanieshavingrelated-partyrelationship
□Applicable√N/ATheCompanyhasnodeposit,loan,creditfacilityorotherfinancialbusinesswithfinancecompanieshavingrelated-partyrelationshipandrelatedparties.
6.TransactionsbetweenfinancecompaniescontrolledbytheCompanyandrelatedparties
□Applicable√N/AFinancecompaniescontrolledbytheCompanyhavenodeposit,loan,creditfacilityorotherfinancialbusinesswithrelatedparties.
7.Othersignificantrelated-partytransactions
□Applicable√N/ATheCompanyhasnoothersignificantrelated-partytransactionsduringtheReportingPeriod.XV.SignificantContractsandPerformancesThereof
1.Trusteeship,contractingandleasing
(1)Trusteeship
□Applicable√N/ATheCompanyhasnotrusteeshipduringtheReportingPeriod.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
(2)Contracting
□Applicable√N/ATheCompanyhasnocontractingduringtheReportingPeriod.
(3)Leasing
□Applicable√N/ATheCompanyhasnoleaseduringtheReportingPeriod.
2.Significantguarantee
□Applicable√N/ATheCompanyhasnoguaranteeduringtheReportingPeriod.
3.Cashassetmanagementbyothersunderentrustment
(1)Entrustedfinancing
√Applicable□N/AOverviewofentrustedfinancingduringtheReportingPeriod
InRMB0’000
| Specifictype | Capitalsourcesofentrustedfinancing | Amountofentrustedfinancing | Unduebalance | Amountoverdueandnotrecovered | Impairedamountoffinancingoverdueandnotrecovered |
| Bankfinancingproduct | Raisedfunds | 182,000 | 178,000 | 0 | 0 |
| Bankfinancingproduct | Ownfunds | 163,000 | 163,000 | 0 | 0 |
| Total | 345,000 | 341,000 | 0 | 0 | |
Detailsofhigh-riskentrustedfinancingwithsignificantsingleamountorpoorsecurityandliquidity.
□Applicable√N/AExpectedunavailabilitytorecovertheprincipalorothersituationsthatmayleadtoimpairmentwithrespecttoentrustedfinancing
□Applicable√N/A
(2)Entrustedloans
□Applicable√N/ATheCompanyhasnoentrustedloanduringtheReportingPeriod.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
4.Othersignificantcontracts
□Applicable√N/ATheCompanyhasnoothersignificantcontractsduringtheReportingPeriod.XVI.DescriptionofOtherSignificantMatters
√Applicable□N/ADuringtheReportingPeriod,100%oftheequityinMangoStudiosCulturalCo.,Ltd.,HunanMangoEntertainmentCo.,Ltd.,andShanghaiMangofunTechnologyCo.,Ltd.,aswholly-ownedsubsidiariesoftheCompany,weretransferredtoHunanHappySunshineInteractiveEntertainmentMediaCo.,Ltd.,anotherwholly-ownedsubsidiaryoftheCompany.XVII.DescriptionofSignificantMattersoftheCompany’sSubsidiaries
□Applicable√N/A
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionVIIShareChangesandInformationofShareholders
I.Sharechanges
1.Sharechanges
Unit:share
| Beforethischange | Increaseordecreasethistime(+,-) | Afterthischange | |||||||
| Quantity | Proportion | Newshares | Bonusshares | Capitalizationofcapitalreserve | Others | Sub-total | Quantity | Proportion | |
| I.Restrictedshare | 849,020,857 | 47.69% | 90,343,304 | 0 | 0 | 0 | 90,343,304 | 939,364,161 | 50.21% |
| 1.Shareholdingsbythestate | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 2.Shareholdingsbythestate-ownedlegalpersons | 849,019,732 | 47.69% | 60,228,869 | 0 | 0 | 0 | 60,228,869 | 909,248,601 | 48.60% |
| 3.Othershareholdingsbydomesticinvestors | 1,125 | 0.00% | 30,114,435 | 0 | 0 | 0 | 30,114,435 | 30,115,560 | 1.61% |
| Including:shareholdingsbydomesticlegalpersons | 0 | 0.00% | 30,114,435 | 0 | 0 | 0 | 30,114,435 | 30,114,435 | 1.61% |
| Shareholdingsbydomesticnaturalpersons | 1,125 | 0.00% | 0 | 0 | 0 | 0 | 0 | 1,125 | 0.00% |
| 4.Shareholdingsbyforeigninvestors | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Including:shareholdingsbyoverseaslegalpersons | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Shareholdingsbyoverseasnaturalpersons | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| II.Unrestrictedshare | 931,356,654 | 52.31% | 0 | 0 | 0 | 0 | 0 | 931,356,654 | 49.79% |
| 1.RMBordinaryshare | 931,356,654 | 52.31% | 0 | 0 | 0 | 0 | 0 | 931,356,654 | 49.79% |
| 2.Domesticlistedforeignshare | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 3.Overseaslistedforeignshare | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| 4.Others | 0 | 0.00% | 0 | 0 | 0 | 0 | 0 | 0 | 0.00% |
| III.Total | 1,780,377,511 | 100.00% | 90,343,304 | 0 | 0 | 0 | 90,343,304 | 1,870,720,815 | 100.00% |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
Reasonforsharechanges
√Applicable□N/AInaccordancewiththeCSRC’sOfficialReplyonApprovingtheRegistrationofShareOfferingtoSpecificPersonsbyMangoExcellentMedia(ZhengJianXuKe[2021]No.2105),theCompanyissued90,343,304RMBordinarysharestothreespecificpersons,namelyZhongyiCapitalHoldingGroupLimited,LombardaChinaFundManagementCo.,Ltd.,andAegon-industrialFundManagementCo.,Ltd.,forwhichPan-ChinaCertifiedPublicAccountantsLLPmadeanauditforverificationandissuedaCapitalVerificationReport(TianJianYan[2021]No.2-29).TheaboveshareswerelistedontheGEMoftheShenzhenStockExchangeonAugust24,2021,withasix-monthlock-upperiodcommencingfromthedateoflistingoftheadditionalshares.Uponcompletionofthisoffering,theCompany’sshareshaveincreasedfrom1,780,377,511sharesto1,870,720,815shares.Approvalofsharechanges
√Applicable□N/AOnJune24,2021,theCompanyreceivedCSRC’sOfficialReplyonApprovingtheRegistrationofShareOfferingtoSpecificPersonsbyMangoExcellentMedia(ZhengJianXuKe[2021]No.2105),whichapproved:1.itwasapprovedtheCompany’sregistrationapplicationforshareofferingtospecificpersons;2.theCompany’ssharestobeissuedthistimeshallbeofferedinstrictaccordancewiththereportingdocumentsandtheissueplansubmittedtotheShenzhenStockExchange;3.thisapprovalisvalidfor12monthsfromthedateofapprovalofregistration;4.incaseofanysignificantmattersarisingfromtheCompanybetweenthedateofapprovalofregistrationanddateoftheendofthisissuance,theCompanyshallreporttoShenzhenStockExchangeinatimelymanneranddealwithsuchmattersinaccordancewithrelevantregulations.Descriptionofregistrationofsharechanges
√Applicable□N/ATheCompanyissued90,343,304RMBordinarysharestothreespecificpersons,namelyZhongyiCapitalHoldingGroupLimited,LombardaChinaFundManagementCo.,Ltd.,andAegon-industrialFundManagementCo.,Ltd.,whichwerelistedontheGEMoftheShenzhenStockExchangeonAugust24,2021,withasix-monthlock-upperiodcommencingfromthedateoflistingoftheadditionalshares.Effectofsharechangesonfinancialindicatorsinthemostrecentyearandthemostrecentperiod,suchasbasicearningspershare,dilutedearningspershare,netassetspershareattributabletotheCompany’sshareholdersofordinaryshares
□Applicable√N/AOtherinformationthattheCompanydeemedasnecessary,orsecurityregulatorsrequiretobedisclosed
□Applicable√N/A
2.Restrictedsharechanges
√Applicable□N/A
Unit:share
| Nameofshareholders | Openingrestrictedshares | Increaseinrestrictedsharesforthecurrentperiod | Restrictedsharesreleasedforthecurrentperiod | Closingrestrictedshares | Reasonsforrestriction | Dateofproposedreleaseofrestriction |
| MangoMediaCo.,Ltd. | 849,019,732 | 0 | 0 | 849,019,732 | Additionalrestrictedsharesinofferingofsharesforpurchasingassets | Thelock-upperiodwasexpiredonJuly12,2021,butthelistingandcirculatingproceduresofthe |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| restrictedsharesarenotappliedfor. | ||||||
| ZhongyiCapitalHoldingGroupLimited | 0 | 60,228,869 | 0 | 60,228,869 | AdditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020 | Asthelock-upperiodwasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| IndustrialandCommercialBankofChinaLimited-LombardaChinaTimesPioneerStockPromoterSecuritiesInvestmentFund | 0 | 7,428,228 | 0 | 7,428,228 | AdditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020 | Asthelock-upperiodwasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| ShanghaiPudongDevelopmentBankCo.,Ltd–LombardaChinaInnovationFuture18-monthClosedOperationHybridSecuritiesInvestmentFund | 0 | 4,416,784 | 0 | 4,416,784 | AdditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020 | Asthelock-upperiodwasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| ChinaEverbrightBankCo.,Ltd.-XingquanBusinessModelPreferredHybridSecuritiesInvestmentFund(LOF) | 0 | 3,122,979 | 0 | 3,122,979 | AdditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020 | Asthelock-upperiodwasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| ChinaMerchantsBankCo.,Ltd.-LombardaChinaInternetPioneerHybridSecuritiesInvestmentFund | 0 | 2,810,680 | 0 | 2,810,680 | AdditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020 | Asthelock-upperiodwasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| ChinaMerchantsBankCo.,Ltd.-XingquanHeyiFlexibleAllocationHybridSecuritiesInvestmentFund(LOF) | 0 | 2,411,981 | 0 | 2,411,981 | AdditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020 | Asthelock-upperiodwasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| ChinaMerchantsBankCo.,Ltd.-XingquanHerunHybridSecuritiesInvestmentFund | 0 | 2,411,980 | 0 | 2,411,980 | AdditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020 | Asthelock-upperiodwasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| Industrialand | 0 | 1,561,489 | 0 | 1,561,489 | Additionalrestricted | Asthelock-upperiodwas |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| CommercialBankofChinaLimited-XingquanGreenInvestmentHybridSecuritiesInvestmentFund(LOF) | sharesinofferingofA-sharesharestospecificpersonsin2020 | expiredonFebruary24,2022,theseshareshavebeenListedandcirculated. | ||||
| PostalSavingsBankofChinaCo.,Ltd.-LombardaChinaShuangliDebtSecuritiesInvestmentFund | 0 | 1,003,814 | 0 | 1,003,814 | AdditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020 | Asthelock-upperiodwasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| Others | 1,125 | 4,946,500 | 0 | 4,947,625 | 4,946,500sharesareadditionalrestrictedsharesinofferingofA-sharesharestospecificpersonsin2020andtheleft1,125sharesarerestrictedsharestodirectors,supervisorsandexecutives. | Asthelock-upperiodof4,946,500shareswasexpiredonFebruary24,2022,theseshareshavebeenListedandcirculated. |
| Total | 849,020,857 | 90,343,304 | 0 | 939,364,161 | -- | -- |
II.Sharesissuingandlisting
1.SecuritiesissuingduringtheReportingPeriod(excludingpreferredshares)
√Applicable□N/A
| Sharesandtheirderivativesecurities | Issuedate | Offeringprice(orinterestrate) | Quantity | Listingdate | Approvedquantityforlistingtrading | Enddateoftransaction | Disclosureindex | Disclosuredate |
| Shares | ||||||||
| OfferingA-sharesharestospecificpersonsin2020 | August3,2021 | 49.81RMB/Share | 90,343,304 | August24,2021 | 90,343,304 | Fordetails,refertoAnnouncementonOfferingA-shareSharestoSpecificPersonsin2020disclosedbytheCompanyathttp://www.cninfo.com.cn/ | August19,2021 | |
| Convertiblecorporatebonds,separatelytradedconvertiblecorporatebonds,corporatebonds | ||||||||
| Otherderivativesecurities | ||||||||
DescriptionofsecuritiesissuingduringtheReportingPeriod(excludingpreferredshares)InaccordancewiththeCSRC’sOfficialReplyonApprovingtheRegistrationofShareOfferingtoSpecificPersonsbyMango
MangoExcellentMediaCo.,Ltd.AnnualReport2021
ExcellentMedia(ZhengJianXuKe[2021]No.2105),theCompanyissued90,343,304RMBordinarysharestothreespecificpersons,namelyZhongyiCapitalHoldingGroupLimited,LombardaChinaFundManagementCo.,Ltd.,andAegon-industrialFundManagementCo.,Ltd.atapriceofRMB49.81pershare,forwhichPan-ChinaCertifiedPublicAccountantsLLPmadeanauditforverificationandissuedaCapitalVerificationReport(TianJianYan[2021]No.2-29).TheaboveshareswerelistedontheGEMoftheShenzhenStockExchangeonAugust24,2021,withasix-monthlock-upperiodcommencingfromthedateoflistingoftheadditionalshares.Uponcompletionofthisoffering,theCompany’sshareshaveincreasedfrom1,780,377,511sharesto1,870,720,815shares.
2.ExplanationforchangesintheCompany’stotalshares,shareholderstructure,andstructureofassetsandliabilities
√Applicable□N/AOnAugust24,2021,theCompanyissued90,343,304RenminbicommonsharestospecifictargetsattheGrowthEnterpriseMarketoftheShenzhenStockExchange,increasingtheCompany’ssharesfrom1,780,377,511sharesto1,870,720,815shares.Refertofollowingtableforchangesofassetsandliabilitiesattheendofreportingperiodandendofpreviousyear(Unit:RMB):
| Item | December31,2021 | December31,2020 | Changeatendofthisyearcomparedwithendofpreviousyear |
| Totalassets | 26,110,751,404.90 | 19,265,699,802.9 | 35.53% |
| Totalliabilities | 9,113,587,160.83 | 8,644,478,556.28 | 5.43% |
3.Currentsharessubjecttoemployeeshareownershipplan
□Applicable√N/AIII.Shareholdersandactualcontrollers
1.DescriptionofthequantityoftheCompany’sshareholdersandsharesheldbythem
Unit:share
| Totalordinaryshareholdersasoftheendoftheperiod | 42,998 | Totalordinaryshareholdersasoftheendofthemonthpriortothedisclosuredateofannualreport | 57,530 | Totalpreferredshareholderswithrecoveredvotingrightsasoftheendoftheperiod | 0 | Totalpreferredshareholderswithrecoveredvotingrightsasoftheendofthemonthpriortothedisclosuredateofannualreport | 0 | Totalshareholdersholdingspecialvotingrightshares | 0 | |
| Informationofshareholdersholding5%ormoreofsharesortop10shareholders | ||||||||||
| Nameofshareholders | Natureofshareholder | Shareholdingpercentage | Closingshareholding | Increaseordecrease | Quantityofrestricted | Quantityofunrestricted | Pledged,markedorfrozen | |||
| Status | Quantity | |||||||||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| quantity | sharesheld | sharesheld | ||||
| MangoMediaCo.,Ltd. | State-ownedlegalperson | 56.09% | 1,049,300,301 | 0 | 849,019,732 | 200,280,569 |
| ZhongyiCapitalHoldingGroupLimited | State-ownedlegalperson | 7.01% | 131,188,792 | +60,228,869 | 60,228,869 | 70,959,923 |
| HunanCaixinJingguoEquityInvestmentPartnership(LP) | State-ownedlegalperson | 5.01% | 93,647,857 | +93,647,857 | 0 | 93,647,857 |
| HongKongSecuritiesClearingCompanyLimited | Foreignlegalperson | 2.78% | 52,033,005 | +8,905,437 | 0 | 52,033,005 |
| ChinaMerchantsBankCo.,Ltd.-XingquanHerunHybridSecuritiesInvestmentFund | Others | 1.20% | 22,359,381 | +12,964,835 | 2,411,980 | 19,947,401 |
| ChinaMerchantsBankCo.,Ltd.-XingquanHeyiFlexibleAllocationHybridSecuritiesInvestmentFund(LOF) | Others | 0.96% | 17,900,404 | +4,811,180 | 2,411,981 | 15,488,423 |
| IndustrialandCommercialBankofChinaLimited-LombardaChinaTimes | Others | 0.91% | 17,101,103 | +14,144,130 | 7,428,228 | 9,672,875 |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| PioneerStockPromoterSecuritiesInvestmentFund | |||||||
| IndustrialandCommercialBankofChinaLimited-XingquanGreenInvestmentHybridSecuritiesInvestmentFund(LOF) | Others | 0.67% | 12,582,075 | +9,254,137 | 1,561,489 | 11,020,586 | |
| 117PortfoliooftheSocialSecurityFundofthePRC | Others | 0.48% | 9,049,621 | +400,000 | 0 | 9,049,621 | |
| IndustrialBankCo.,Ltd.-FullgoalXingyuanPreferred12-MonthHoldingPeriodHybridSecuritiesInvestmentFund | Others | 0.47% | 8,853,835 | +8,853,835 | 0 | 8,853,835 | |
| Explanationforrelated-partyrelationshiporconcertedactionsofaboveshareholders | Thereisnorelated-partyrelationshiporconcertedactionrelationshipbetweentheMangoMediaCo.,Ltd.asthecontrollingshareholderoftheCompanyandothertop10unrestrictedoutstandingshareholders;itremainsunknownwhetherornotthereisarelated-partyrelationshiporconcertedactionrelationshipamongothertop10shareholders. | ||||||
| Explanationforentrusting/acceptingentrustedvotingrightsandwaiverofvotingrightsregardingaboveshareholders | N/A | ||||||
| Shareholdingsoftop10unrestrictedshareholders | |||||||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| Nameofshareholders | QuantityofunrestrictedsharesheldattheendoftheReportingPeriod | Type | |
| Type | Quantity | ||
| MangoMediaCo.,Ltd. | 200,280,569 | RMBordinaryshares | 200,280,569 |
| HunanCaixinJingguoEquityInvestmentPartnership(LP) | 93,647,857 | RMBordinaryshares | 93,647,857 |
| ZhongyiCapitalHoldingGroupLimited | 70,959,923 | RMBordinaryshares | 70,959,923 |
| HongKongSecuritiesClearingCompanyLimited | 52,033,005 | RMBordinaryshares | 52,033,005 |
| ChinaMerchantsBankCo.,Ltd.-XingquanHerunHybridSecuritiesInvestmentFund | 19,947,401 | RMBordinaryshares | 19,947,401 |
| ChinaMerchantsBankCo.,Ltd.-XingquanHeyiFlexibleAllocationHybridSecuritiesInvestmentFund(LOF) | 15,488,423 | RMBordinaryshares | 15,488,423 |
| IndustrialandCommercialBankofChinaLimited-XingquanGreenInvestmentHybridSecuritiesInvestmentFund(LOF) | 11,020,586 | RMBordinaryshares | 11,020,586 |
| IndustrialandCommercialBankofChinaLimited-LombardaChinaTimesPioneerStockPromoterSecuritiesInvestmentFund | 9,672,875 | RMBordinaryshares | 9,672,875 |
| 117PortfoliooftheSocialSecurityFundofthePRC | 9,049,621 | RMBordinaryshares | 9,049,621 |
| IndustrialBankCo.,Ltd.-FullgoalXingyuanPreferred12-MonthHoldingPeriodHybridSecuritiesInvestmentFund | 8,853,835 | RMBordinaryshares | 8,853,835 |
| Explanationforrelated-partyrelationshiporconcertedactionsbetweentop10unrestricted | Thereisnorelated-partyrelationshiporconcertedactionrelationshipbetweentheMangoMediaCo.,Ltd.asthecontrollingshareholderoftheCompanyandothertop10unrestrictedoutstandingshareholders;itremainsunknownwhetherornotthereisarelated-partyrelationshiporconcertedactionrelationshipamongtop10unrestrictedoutstanding | ||
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| outstandingshareholders,andbetweentop10unrestrictedoutstandingshareholdersandtop10shareholders | shareholdersandbetweentop10unrestrictedoutstandingshareholdersandtop10shareholders. |
WhethertheCompanyhasmadearrangementforvotingrightdifferences
□Applicable√N/AWhethertheCompany’stop10ordinaryshareholdersandtop10unrestrictedordinaryshareholdershaveengagedinanagreedrepurchasetransactionduringtheReportingPeriod
□Yes√NoTheCompany’stop10ordinaryshareholdersandtop10unrestrictedordinaryshareholdershavenoagreedrepurchasetransactionduringtheReportingPeriod.
2.TheCompany’scontrollingshareholder
Natureofthecontrollingshareholder:localstate-ownedholdingcompanyTypeofthecontrollingshareholder:legalperson
| Controllingshareholder | Legalrepresentative/responsibleperson | Dateofincorporation | Organizationcode | Principalactivities |
| MangoMediaCo.,Ltd. | ZHANGHuali | July10,2007 | 914300006707880875 | Planning,productionandoperationofradioandtelevisionprograms;investmentsinculture,sports,entertainment,media,technology,internetandotherindustriesbyself-ownedfunds(excludingnationalfinancialsupervisionandfinancialcreditbusinessessuchasdepositabsorption,fundcollection,entrustedloans,notes,andloansissuance);advertisingplanning,productionandoperation;multimediatechnologydevelopmentandoperation.(Projectsrequiredforlegalapprovalshallbeoperatedonthepremiseofbeingapprovedbyrelevantauthorities) |
ChangeofthecontrollingshareholderduringtheReportingPeriod
□Applicable√N/ATheCompanyhasnotchangedthecontrollingshareholderduringtheReportingPeriod.
3.TheCompany’sactualcontrolleranditsacting-in-concertpartiesNatureoftheactualcontroller:localstatecapitalmanagementinstitutionTypeofthecontrollingshareholder:legalperson
| Actualcontroller | Legal | Dateof | Organizationcode | Principalactivities |
MangoExcellentMediaCo.,Ltd.AnnualReport2021
| representative/responsibleperson | incorporation | |||
| HunanBroadcastingSystem | GONGZhengwen | January25,2010 | 12430000444877954G | Broadcastingnewsandotherinformation,andtelevisionprogramstopromotesocial,economicandculturaldevelopment;news,thematic,literary,andartisticbroadcasts,consultingservices,advertising,broadcastingtechnicalservices,broadcastingresearch,broadcastbusinesstraining,publishinganddistributionofaudiovisualproducts,televisionprogramproduction,televisionprogramsbroadcastingandrebroadcasting,televisionindustrybusiness,andtelevisionresearch. |
| EquityofotherdomesticandoversealistedcompaniescontrolledbytheactualcontrollerduringtheReportingPeriod | AccordingtotheguidelineoftheHunanProvincialCPCCommitteeandHunanProvincialGovernmentfortheintegrationandreformofHunanBroadcastingSystem,despitearelatedrelationshipbetweenHunanBroadcastingSystemandHunanTV&BroadcastIntermediaryCo.,Ltd.,theactualcontroller,anditssubordinatecompaniesholdnosharesinHunanTV&BroadcastIntermediaryCo.,Ltd. | |||
ChangeoftheactualcontrollerduringtheReportingPeriod
□Applicable√N/ATheCompanyhasnotchangedtheactualcontrollerduringtheReportingPeriodBlockdiagramfortheownershipandcontrollingrelationshipbetweentheCompanyandtheactualcontroller
TheCompanyiscontrolledbytheactualcontrollerthroughtrustfundsorotherassetmanagementmethods
□Applicable√N/A
HunanBroadcastingSystemMangoMediaCo.,Ltd.
MangoMediaCo.,Ltd.MangoExcellentMediaCo.,Ltd..
MangoExcellentMediaCo.,Ltd..100%shares
100%shares
56.09%shares
MangoExcellentMediaCo.,Ltd.AnnualReport2021
4.ThecontrollingshareholderorthelargestshareholderoftheCompanyanditsacting-in-concertpartieshavepledged80%ofthenumberofsharesheldbythem
□Applicable√N/A
5.Otherlegalpersonshareholderswithmorethan10%sharesintheCompany
□Applicable√N/A
6.Restrictiononreductionofsharestothecontrollingshareholder,theactualcontroller,therestructuringparty,andothercommittedentity
□Applicable√N/A
IV.Practicalimplementationofsharerepurchaseduringthereportingperiod
Implementationprogressofsharerepurchase
□Applicable√N/AProgressofreducingrepurchasedsharesbymeansofcentralizedauctiontrading
□Applicable√N/A
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionVIIIPreferredShares
□Applicable√N/ATheCompanyhasnopreferredsharesduringtheReportingPeriod.
MangoExcellentMediaCo.,Ltd.AnnualReport2021
SectionIXBonds
□Applicable√N/A
SectionXFinancialReport
I.Auditor’sReport
| Auditopinion | UnmodifiedOpinion |
| Signingdateofauditreport | April21,2022 |
| Auditor | Pan-ChinaCertifiedPublicAccountantsLLP |
| Auditor’sreportdocumentnumber | TianJianShen[2022]No.2-191 |
| Nameofcertifiedpublicaccountants | LIUGangyueandZHANGHong |
Auditor’sReportToallshareholdersofMangoExcellentMediaCo.,Ltd.:
I.AuditopinionWehaveauditedthefinancialstatementsofMangoExcellentMediaCo.,Ltd.(“MangoExcellentMedia”),whichcomprisetheconsolidatedandtheparentcompany’sbalancesheetsasatDecember31,2021,andtheconsolidatedandtheparentcompany’sincomestatements,theconsolidatedandtheparentcompany’sstatementsofcashflowandtheconsolidatedandtheparentcompany’sstatementsofchangesinowners’equityfortheyearthenended,andthenotestothefinancialstatements.
Inouropinion,theaccompanyingfinancialstatementsarepreparedinallmaterialrespectsinaccordancewithAccountingStandardsforBusinessEnterprisesandfairlypresenttheconsolidatedandtheparentcompany’sfinancialpositionasofDecember31,2021,andtheconsolidatedandtheparentcompany’soperatingresultsandcashflowsfortheyearthenended.
II.BasisforOpinion
WeconductedourauditinaccordancewithChinaStandardsonAuditing.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe“Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements”sectionofourreport.WeareindependentofMangoExcellentMediainaccordancewiththeCodeofEthicsforChineseInstituteofCertifiedPublicAccountants(“theCode”),andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththeCode.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.
III.KeyAuditMatters
Keyauditmattersarethosemattersthat,inourprofessionaljudgment,areofmostsignificanceinourauditofthefinancialstatementsforthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotexpressaseparateopiniononthesematters.
(I)Revenuerecognition
1.Descriptions
DetailsofrelevantinformationaredisclosedinNoteIII(XXII),V(II)1andXIII(II)tothefinancialstatements.
TheoperatingincomeofMangoExcellentMediaismainlyfromnewmediaplatformoperation,newmediainteractiveentertainmentcontentproductionandcontente-businesses,etc.In2021,theoperatingincomeofMangoExcellentMediaamountedtoRMB15,355,863,500.00,ofwhichtheoperatingincomefromthesegmentsincludingnewmediaplatformoperationandnewmediainteractiveentertainmentcontentproductionamountedtoRMB13,138,707,800.00,accountingfor85.56%thereof.
AstheoperatingincomeisoneofMangoExcellentMedia’sKPIs,theremaybeaninherentriskthatthemanagementofMangoExcellentMedia(hereinafterreferredtoas“management”)mayrecognizetherevenueinappropriatelytoachievespecificobjectivesorexpectations.Meanwhile,revenuerecognitionalsoneedscomplexinformationsystemsandsignificantmanagementjudgement.Therefore,weidentifiedrevenuerecognitionasakeyauditmatter.
2.AuditresponseForrevenuerecognition,ourauditproceduresinclude,interalia:
(1)Understandthekeyinternalcontrolsrelatedtorevenuerecognition,evaluatethedesignofthosecontrols,determinewhethertheyareimplemented,andtesttheoperationaleffectivenessoftherelevantinternalcontrols;
(2)Testgeneralinformationsystemcontrolsandapplicationcontrolsrelatedtotherevenuerecognitionprocessbyvirtueoftheworkresultsofthein-houseinformationtechnologyexperts;
(3)Examinemajorsalescontracts,understandthemajorprovisionsorconditionsthereof,andevaluatewhetherrevenuerecognitionmethodsareproper;
(4)Implementsubstantiveanalysisproceduresforoperatingincomeandgrossmarginbymonth,product,customer,etc.,toidentifywhethertherearesignificantorunusualfluctuationsandtofindoutthecausesofsuchfluctuations;
(5)Samplecontracts,licenses,finalstatements,receiptsandsign-offstomaketestofdetailsaccordingtodifferenttypesofrevenues,andpayattentiontothebusinesscontentoftherelatedsalesandtheircommercialreasonableness;
(6)Inconjunctionwithaccountsreceivableconfirmationprocedures,sendconfirmationtomajorcustomerstorecognizethecurrentsalevolumesonasamplebasis;
(7)Conductthecut-offtestontheoperatingincomesrecognizedaboutthebalancesheetdatetoevaluatewhethertheoperatingincomesarerecognizedappropriately;
(8)Obtainarecordofsalesreturnsafterthebalancesheetdatetocheckifthereisanyinstancethatconditionsforrevenuerecognitionwerenotmetatthebalancesheetdate;and
(9)Checkwhetherinformationrelatingtooperatingincomeisproperlypresentedanddisclosedinthefinancialstatements.
(II)Thecarryingamountofcontentcopyrights
1.Descriptions
DetailsofrelevantinformationaredisclosedinNoteIII(XI),(XVII)andNoteV(I)8and14tothefinancialstatements.
AsofDecember31,2021,thecarryingamountofMangoExcellentMedia’scontentcopyrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionserieswasRMB7,906,817,800;ofwhich,intangibleassetswereRMB6,296,622,200andstockswereRMB1,610,195,600.
Themanagementmakessignificantjudgmenttoevaluatethecarryingamountofcontentcopyrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseries.Inmakingsuchevaluation,themanagementconsidersallpossiblefactorsthatmayaffectthefuturebroadcasting,productionanddistributionplansofthecontentcopyrightssuchastheonlineinformationdisseminationrights,screenplaysandfilmandtelevisionseries,thesaleableorbookingpricesoffilmandtelevisionseries,thediscountrateandthecurrentmarketenvironmenttojudgetheexpectationofobtainingfuturecashflows.Theamountofcontentcopyrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseriesismaterial,andinvolvessignificantmanagementjudgments,therefore,weidentifythecarryingamountofcontentcopyrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseriesasakeyauditmatter.
2.Auditresponse
Forthecarryingamountofcontentcopyrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseries,ourauditproceduresinclude,interalia:
(1)Understandthekeyinternalcontrolsrelatedtocontentcopyrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseries,evaluatethedesignofthosecontrols,determinewhethertheyareimplemented,andtesttheoperationaleffectivenessoftherelevantinternalcontrols;
(2)Knowandevaluatethereasonablenessofamortizationpoliciesofonlineinformationdisseminationrights,andimplementcomputer-aidedauditprocedureforamortizationinformationsystemofonlineinformationdisseminationrights;
(3)Evaluatethereasonablenessofaccountingpoliciesrelatedtocontentcopyrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseriesbycomparingrelevantaccountingstandardsandindustrypracticebenchmarks,andtestthemanagement’sassessmentoftherecoverableamountofcontentcopyrightssuchasonlineinformationdisseminationrights,
screenplays,andfilmandtelevisionseriesonasamplebasisbasedonthematerialityleveloftheclosingbalanceofnetvalueofcontentcopyrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseries;
(4)Inspectrelevantagreementsforthepurchaseofcontentcopyrightssuchasonlineinformationdisseminationrights,andscreenplays,andverifythevalidperiodoftheirlicensestoevaluatethereasonablenessoftheirnetrealizablevalues.Forself-producedfilmandtelevisionseries,selectsamplesanddiscusswiththemanagementtounderstandthecurrentmarketenvironment,theirfutureproductionanddistributionplans;
(5)Inspectdistributioncontractstoverifytheestimatedsellingpriceofcontentrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseries.Fortelevisionseriesthathavebeenproducedbuthavenotobtainedbroadcastlicenses,weselectsamplestocomparetheirprojectedsellingpriceswiththesellingpricesavailabletosimilartelevisionseries,soastoassesstheirimpairment;
(6)Payattentiontopublicopinionofcontentrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseries,assessingtheirnegativepublicopinionanddiscussingwiththemanagementthatwhetherthereisanexpectedwithdrawalorfailuretocompleteproduction;
(7)Checkwhetherinformationrelatingtoimpairmentandcopyrightamortizationofcontentrightssuchasonlineinformationdisseminationrights,screenplays,andfilmandtelevisionseriesisproperlypresentedanddisclosedinthefinancialstatements;
IV.OtherInformation
Themanagementisresponsibleforotherinformation.TheotherinformationcomprisestheinformationincludedintheAnnualReport,butdoesnotincludethefinancialstatementsandourauditor’sreportthereon.
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationandwedonotexpressanyformofassuranceconclusionthereon.
Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.
If,basedontheworkwehaveperformed,weconcludethatthereisanymaterialmisstatementofotherinformation,wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard.
V.ResponsibilitiesoftheManagementandThoseChargedwithGovernancefortheFinancialStatements
ThemanagementofMangoExcellentMediaisresponsibleforthepreparationandfairpresentationofthefinancialstatementsinaccordancewithAccountingStandardsforBusinessEnterprises,anddesigning,implementing,andmaintaininginternalcontrolthatisnecessarytoenablethefinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.
Inpreparingthefinancialstatements,themanagementisresponsibleforassessingMangoExcellentMedia’sabilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlessthemanagementeitherintendstoliquidateMangoExcellentMediaortoceaseoperations,orhavenorealisticalternativebuttodoso.
ThosechargedwithgovernanceofMangoExcellentMedia(hereinafterreferredtoas“thosechargedwithgovernance”)areresponsibleforoverseeingMangoExcellentMedia’sfinancialreportingprocess.
VI.Auditor’sResponsibilitiesfortheAuditoftheFinancialStatements
Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor’sreportthatincludesouropinionsolelytoyou.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewithChinaStandardsonAuditingwillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.
AspartofanauditinaccordancewithChinaStandardsonAuditing,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:
(I)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.(II)Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances,butnotforthepurposetoexpressopinionsontheeffectivenessofinternalcontrol.(III)Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebythemanagement.(IV)Concludeontheappropriatenessofthemanagement’suseofthegoingconcernbasisofaccountingand,basedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtonMangoExcellentMedia’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredtodrawattentioninourauditor’sreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditor’sreport.However,futureeventsorconditionsmaycausetheMangoExcellentMediatoceasetocontinueasagoingconcern.
(V)Evaluatetheoverallpresentation,structure,andcontentofthefinancialstatementsandwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation;
(VI)ObtainsufficientandappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheMangoExcellentMediatoexpressanopiniononthefinancialstatements.Weareresponsibleforthedirection,supervision,andperformanceofthegroupaudit.Weremainsolelyresponsibleforourauditopinion.
Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditfindings,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.
Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andcommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.
Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsforthecurrentperiodandarethereforekeyauditmatters.Wedescribethesemattersinourauditreportunlesslawsorregulationsprecludepublicdisclosureofthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.
Pan-ChinaCertifiedPublicAccountantsLLPCertifiedPublicAccountant:LIUGangyue
(EngagementPartner)Hangzhou,ChinaCertifiedPublicAccountant:ZHANGHong
April21,2022II.FinancialStatements
StatementsinnotestothefinancialstatementsaredominatedinRMB.
1.Consolidatedbalancesheet
Preparedby:MangoExcellentMediaCo.,Ltd.
InRMB
| Item | December31,2021 | December31,2020 |
| CurrentAssets | ||
| Cashandbankbalances | 6,974,465,151.81 | 5,336,319,786.70 |
| Balanceswithclearingagencies | ||
| Placementswithbanksandotherfinancialinstitutions | ||
| Held-for-tradingfinancialassets | 3,410,000,000.00 | |
| Derivativefinancialassets | ||
| Notesreceivable | 673,742,339.23 | |
| Accountsreceivable | 3,113,742,914.88 | 2,976,696,672.95 |
| Receivablefinancing | 137,800,000.00 | 164,410,000.00 |
| Prepayments | 1,834,350,013.20 | 1,398,350,153.72 |
| Premiumreceivable | ||
| Amountsreceivableunderreinsurancecontracts | ||
| Reinsurer’sshareofinsurancecontractreserves | ||
| Otherreceivables | 40,568,403.37 | 51,168,090.47 |
| Including:dividendsreceivable | ||
| Dividendsreceivable | ||
| Financialassetspurchasedunderresaleagreements | ||
| Inventories | 1,689,546,700.79 | 1,660,324,608.09 |
| Contractassets | 903,053,743.61 | 817,451,396.56 |
| Held-for-saleassets | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 123,539,219.25 | 520,087,664.20 |
| Totalcurrentassets | 18,900,808,486.14 | 12,924,808,372.69 |
| Non-currentassets: | ||
| Loansandadvancestocustomers | ||
| Debtinvestments | ||
| Otherdebtinvestments | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 23,882,517.37 | 22,882,969.51 |
| Otherinvestmentsinequityinstruments | ||
| Othernon-currentfinancialassets | ||
| Investmentproperties | ||
| Fixedassets | 184,450,336.98 | 186,924,296.25 |
| Constructioninprogress | ||
| Bearerbiologicalassets | ||
| Oilandgasassets | ||
| Rightofuseassets | 210,304,495.42 | |
| Intangibleassets | 6,443,675,155.95 | 5,894,454,399.68 |
| Developmentexpenditure | 232,522,753.24 | 157,264,231.85 |
| Goodwill | ||
| Long-termprepaidexpenses | 113,847,481.21 | 77,342,051.99 |
| Deferredincometaxassets | ||
| Othernon-currentassets | 1,260,178.59 | 2,023,481.01 |
| Totalnon-currentassets | 7,209,942,918.76 | 6,340,891,430.29 |
| Totalassets | 26,110,751,404.90 | 19,265,699,802.98 |
| Currentliabilities: | ||
| Shorttermborrowings | 39,786,903.37 | 39,789,110.68 |
| Loansfromthecentralbank | ||
| Takingfrombanksandotherfinancialinstitutions | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | 921,504,704.91 | 712,292,035.75 |
| Accountspayable | 4,960,935,241.83 | 5,217,087,330.62 |
| Receiptsinadvance | ||
| Contractliabilities | 1,327,294,063.85 | 1,330,475,023.10 |
| Financialassetssoldunderrepurchaseagreements | ||
| Customerdepositsanddepositsfrombanksandotherfinancialinstitutions | ||
| Fundsfromsecuritiestradingagency | ||
| Fundsfromunderwritingsecuritiesagency | ||
| Employeebenefitspayable | 980,394,114.20 | 856,712,827.84 |
| Taxespayable | 123,474,589.72 | 131,527,885.95 |
| Otherpayables | 149,086,160.61 | 160,651,194.91 |
| Including:interestpayable | ||
| Dividendspayable | ||
| Feesandcommissionspayable | ||
| Amountspayableunderreinsurancecontracts | ||
| Held-for-saleliabilities | ||
| Non-currentliabilitiesduewithinoneyear | 43,098,562.04 | |
| Othercurrentliabilities | 339,035,557.99 | 138,698,825.59 |
| Totalcurrentliabilities | 8,884,609,898.52 | 8,587,234,234.44 |
| Non-currentliabilities: | ||
| Insurancecontractreserves | ||
| Long-termborrowings | ||
| Bondspayable | ||
| Including:preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 169,643,622.50 | |
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | 13,815,868.00 | 8,305,486.15 |
| Deferredincome | 45,517,771.81 | 48,938,835.69 |
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 228,977,262.31 | 57,244,321.84 |
| Totalliabilities | 9,113,587,160.83 | 8,644,478,556.28 |
| Owner’sequity | ||
| Sharecapital | 1,870,720,815.00 | 1,780,377,511.00 |
| Otherequityinstruments | ||
| Including:preferredshares | ||
| Perpetualbonds | ||
| Capitalreserve | 9,244,386,503.55 | 4,838,937,706.35 |
| Less:treasuryshares | ||
| Othercomprehensiveincome | -13,783.18 | -2,759.37 |
| Specialreserve | ||
| Surplusreserve | 105,025,383.29 | 87,139,560.14 |
| Generalriskreserve | ||
| Undistributedprofit | 5,746,281,439.57 | 3,881,526,167.30 |
| Totalowners’equityattributabletoequityholdersoftheparentcompany | 16,966,400,358.23 | 10,587,978,185.42 |
| Minorityinterests | 30,763,885.84 | 33,243,061.28 |
| Totalowners’equity | 16,997,164,244.07 | 10,621,221,246.70 |
| Totalliabilitiesandowners’equity | 26,110,751,404.90 | 19,265,699,802.98 |
Legalrepresentative:ZHANGHualiChieffinancialofficer:LIANGDepingHeadofaccountingdepartment:TAOJinyu
2.Balancesheetoftheparentcompany
InRMB
| Item | December31,2021 | December31,2020 |
| CurrentAssets | ||
| Cashandbankbalances | 593,199,335.20 | 405,729,095.82 |
| Held-for-tradingfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | ||
| Receivablefinancing | ||
| Prepayments | 746,648.08 | 270,000.00 |
| Otherreceivables | 330,099,116.90 | 260,068,347.20 |
| Including:dividendsreceivable | ||
| Dividendsreceivable | 250,000,000.00 | |
| Inventories | ||
| Contractassets | ||
| Held-for-saleassets | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 2,989,471.09 | 3,194,254.68 |
| Totalcurrentassets | 927,034,571.27 | 669,261,697.70 |
| Non-currentassets: | ||
| Debtinvestments | ||
| Otherdebtinvestments |
| Long-termreceivables | ||
| Long-termequityinvestments | 11,976,375,839.55 | 7,780,583,738.35 |
| Otherinvestmentsinequityinstruments | ||
| Othernon-currentfinancialassets | ||
| Investmentproperties | ||
| Fixedassets | 852,797.16 | 1,305,884.91 |
| Constructioninprogress | ||
| Bearerbiologicalassets | ||
| Oilandgasassets | ||
| Rightofuseassets | 8,919,029.19 | |
| Intangibleassets | 714,278.56 | 803,907.00 |
| Developmentexpenditure | ||
| Goodwill | ||
| Long-termprepaidexpenses | 4,785,543.89 | 5,579,058.77 |
| Deferredincometaxassets | ||
| Othernon-currentassets | ||
| Totalnon-currentassets | 11,991,647,488.35 | 7,788,272,589.03 |
| Totalassets | 12,918,682,059.62 | 8,457,534,286.73 |
| Currentliabilities: | ||
| Shorttermborrowings | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | ||
| Receiptsinadvance | ||
| Contractliabilities | ||
| Employeebenefitspayable | 39,647,064.37 | 31,708,478.30 |
| Taxespayable | 624,511.69 | 545,679.40 |
| Otherpayables | 8,598,711.22 | 7,672,949.27 |
| Including:interestpayable | ||
| Dividendspayable | ||
| Held-for-saleliabilities | ||
| Non-currentliabilitiesduewithinoneyear | 1,524,817.62 |
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 50,395,104.90 | 39,927,106.97 |
| Non-currentliabilities: | ||
| Long-termborrowings | ||
| Bondspayable | ||
| Including:preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 7,478,518.73 | |
| Long-termpayables | ||
| Long-termemployeebenefitspayable | ||
| Provisions | ||
| Deferredincome | ||
| Deferredincometaxliabilities | ||
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 7,478,518.73 | |
| Totalliabilities | 57,873,623.63 | 39,927,106.97 |
| Owner’sequity | ||
| Sharecapital | 1,870,720,815.00 | 1,780,377,511.00 |
| Otherequityinstruments | ||
| Including:preferredshares | ||
| Perpetualbonds | ||
| Capitalreserve | 10,584,782,807.56 | 6,179,334,010.36 |
| Less:treasuryshares | ||
| Othercomprehensiveincome | ||
| Specialreserve | ||
| Surplusreserve | 105,025,383.29 | 87,139,560.14 |
| Undistributedprofit | 300,279,430.14 | 370,756,098.26 |
| Totalowners’equity | 12,860,808,435.99 | 8,417,607,179.76 |
| Totalliabilitiesandowners’equity | 12,918,682,059.62 | 8,457,534,286.73 |
3.Consolidatedincomestatement
InRMB
| Item | 2021 | 2020 |
| I.Totaloperatingincome | 15,355,863,482.07 | 14,005,534,955.36 |
| including:operatingincome | 15,355,863,482.07 | 14,005,534,955.36 |
| Interestincome | ||
| Premiumsearned | ||
| Feeandcommissionincome | ||
| II.Totaloperatingcosts | 13,268,399,151.99 | 12,143,647,482.17 |
| Including:operatingcosts | 9,905,462,770.82 | 9,230,288,644.44 |
| Interestexpenses | ||
| Feeandcommissionexpenses | ||
| Surrenders | ||
| Claimsandpolicyholderbenefits(netofmountsrecoverablefromreinsurers) | ||
| Chargesininsurancecontractreserves(netofreinsurers’share) | ||
| Insurancepolicyholderdividends | ||
| Expensesforreinsuranceaccepted | ||
| Taxesandlevies | 26,892,490.52 | 21,977,750.48 |
| Sellingexpenses | 2,469,328,212.64 | 2,164,415,269.87 |
| Generalandadministrativeexpenses | 695,934,611.78 | 629,200,722.73 |
| Researchanddevelopmentexpenses | 271,991,403.40 | 184,384,948.72 |
| Financialexpenses | -101,210,337.17 | -86,619,854.07 |
| Including:interestexpenses | 2,630,663.17 | 13,532,130.10 |
| Interestincome | 125,145,189.95 | 116,608,027.80 |
| Add:otherincome | 123,334,219.55 | 152,751,572.29 |
| Investmentincome(Lossisindicatedby“-”) | 37,229,498.93 | 80,792,516.40 |
| Including:incomefrominvestmentsinassociatesandjointventures | 999,547.86 | 72,125,990.33 |
| Incomefromderecognitionoffinancialassetsmeasuredatamortizedcost | ||
| Foreignexchangegains(Lossisindicatedby“-”) | ||
| Netexposurehedgingincome(Lossisindicatedby“-”) | ||
| Incomefromchangesinfairvalue(Lossisindicatedby“-”) | ||
| Impairmentlossesofcredit(Lossis | -43,921,867.09 | -52,586,997.38 |
| indicatedby“-”) | ||
| Impairmentlossesofassets(Lossisindicatedby“-”) | -68,086,394.50 | -36,801,884.43 |
| Incomefromdisposalofassets(Lossisindicatedby“-”) | -85,941.70 | 354,684.48 |
| III.Operatingprofit(Lossisindicatedby“-”) | 2,135,933,845.27 | 2,006,397,364.55 |
| Add:non-operatingincome | 21,850,496.77 | 26,886,284.35 |
| Less:non-operatingexpenses | 43,300,269.96 | 46,535,880.99 |
| IV.Totalprofit(Totallossesareindicatedby“-”) | 2,114,484,072.08 | 1,986,747,767.91 |
| Less:incometaxexpense | 4,357.00 | 7,411,218.58 |
| V.Netprofit(Netlossisindicatedby“-”) | 2,114,479,715.08 | 1,979,336,549.33 |
| (I)Categorizedbythenatureofcontinuingoperation | ||
| 1.Netprofitfromcontinuingoperations(Netlossisindicatedby“-”) | 2,113,148,651.46 | 1,975,807,519.82 |
| 2.Netprofitfromdiscontinuedoperations(Netlossisindicatedby“-”) | 1,331,063.62 | 3,529,029.51 |
| (II)Categorizedbyownership: | ||
| 1.Netprofitattributabletoshareholdersoftheparentcompany | 2,114,090,171.85 | 1,982,159,476.82 |
| 2.Profitorlossattributabletominorityinterests | 389,543.23 | -2,822,927.49 |
| VI.Othercomprehensiveincome,netoftax | -11,023.81 | -2,759.37 |
| Othercomprehensiveincomeattributabletoownersoftheparentcompany,netoftax | -11,023.81 | -2,759.37 |
| (I)Othercomprehensiveincomethatcannotbesubsequentlyreclassifiedtoprofitorloss | ||
| 1.Changesfromre-measurementofdefinedbenefitplans | ||
| 2.Othercomprehensiveincomethatcannotbereclassifiedtoprofitorlossundertheequitymethod |
| 3.Changesinfairvalueofotherinvestmentsinequityinstruments | ||
| 4.Changesinfairvalueofenterprises’owncreditrisks | ||
| 5.Others | ||
| (II)Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | -11,023.81 | -2,759.37 |
| 1.Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Amountsoffinancialassetsreclassifiedintoothercomprehensiveincome | ||
| 4.Provisionforcreditimpairmentofotherdebtinvestments | ||
| 5.Reserveforcashflowhedges | ||
| 6.Translationdifferencesoffinancialstatementsdenominatedinforeigncurrencies | -11,023.81 | -2,759.37 |
| 7.Others | ||
| Othercomprehensiveincomeattributabletominorityinterests,netoftax | ||
| VII.Totalcomprehensiveincome | 2,114,468,691.27 | 1,979,333,789.96 |
| Totalcomprehensiveincomeattributabletoownersoftheparentcompany | 2,114,079,148.04 | 1,982,156,717.45 |
| Totalcomprehensiveincomeattributabletominorityinterests | 389,543.23 | -2,822,927.49 |
| VIII.Earningspershare: | ||
| (I)Basicearningspershare | 1.17 | 1.11 |
| (II)Dilutedearningspershare | 1.17 | 1.11 |
Foranybusinesscombinationinvolvingenterprisesundercommoncontrolforthecurrentperiod,thenetprofitsoftheabsorbedpartypriortothecombinationareRMBinthecurrentperiod,andwereRMBinpriorperiod.Legalrepresentative:ZHANGHualiChieffinancialofficer:LIANGDepingHeadofaccountingdepartment:TAOJinyu
4.Incomestatementoftheparentcompany
InRMB
| Item | 2021 | 2020 |
| I.Operatingincome | 0.00 | 0.00 |
| Less:Totaloperatingcosts | 0.00 | 0.00 |
| Taxesandlevies | 1,899,087.62 | 6,923.08 |
| Sellingexpenses | ||
| Generalandadministrativeexpenses | 99,902,232.40 | 72,126,384.06 |
| Researchanddevelopmentexpenses | ||
| Financialexpenses | -25,837,827.24 | -26,287,586.49 |
| Including:interestexpenses | ||
| Interestincome | 26,073,238.54 | 26,296,386.01 |
| Add:otherincome | 11,246.72 | 227,348.06 |
| Investmentincome(Lossisindicatedby“-”) | 254,810,066.45 | 69,864,747.18 |
| Including:incomefrominvestmentsinassociatesandjointventures | 69,864,747.18 | |
| Incomefromderecognitionoffinancialassetsmeasuredatamortizedcost(Lossisindicatedby“-”) | ||
| Netexposurehedgingincome(Lossisindicatedby“-”) | ||
| Incomefromchangesinfairvalue(Lossisindicatedby“-”) | ||
| Impairmentlossesofcredit(Lossisindicatedby“-”) | 410.99 | -1,040.99 |
| Impairmentlossesofassets(Lossisindicatedby“-”) | ||
| Incomefromdisposalofassets(Lossisindicatedby“-”) | ||
| II.Operatingprofit(Lossisindicatedby“-”) | 178,858,231.38 | 24,245,333.60 |
| Add:non-operatingincome | 0.08 | 20,000.74 |
| Less:non-operatingexpenses | 692,950.00 | |
| III.Totalprofit(Lossisindicatedby“﹣”) | 178,858,231.46 | 23,572,384.34 |
| Less:incometaxexpense | ||
| IV.Netprofit(Netlossisindicatedby“-”) | 178,858,231.46 | 23,572,384.34 |
| (I)Netprofitfromcontinuingoperations(Netlossisindicatedby“-”) | 178,858,231.46 | 23,572,384.34 |
| (II)Netprofitfromdiscontinuedoperations(Netlossisindicatedby“-”) | ||
| V.Othercomprehensiveincome,netoftax | ||
| (I)Othercomprehensiveincomethatcannotbesubsequentlyreclassifiedtoprofitorloss | ||
| 1.Changesfromre-measurementofdefinedbenefitplans | ||
| 2.Othercomprehensiveincomethatcannotbereclassifiedtoprofitorlossundertheequitymethod | ||
| 3.Changesinfairvalueofotherinvestmentsinequityinstruments | ||
| 4.Changesinfairvalueofenterprises’owncreditrisks | ||
| 5.Others | ||
| (II)Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | ||
| 1.Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | ||
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Amountsoffinancialassetsreclassifiedintoothercomprehensiveincome | ||
| 4.Provisionforcreditimpairmentofotherdebtinvestments | ||
| 5.Reserveforcashflowhedges | ||
| 5.Translationdifferencesoffinancialstatementsdenominatedinforeigncurrencies | ||
| 7.Others |
| VI.Totalcomprehensiveincome: | 178,858,231.46 | 23,572,384.34 |
| VII.Earningspershare: | ||
| (I)Basicearningspershare | ||
| (II)Dilutedearningspershare |
5.Consolidatedstatementsofcashflows
InRMB
| Item | 2021 | 2020 |
| I.CashFlowsfromOperatingActivities: | ||
| Cashreceiptsfromthesaleofgoodsandtherenderingofservices | 14,751,013,340.67 | 13,100,389,646.19 |
| Netincreaseincustomerdepositsanddepositsfrombanksandotherfinancialinstitutions | ||
| Netincreaseinloansfromthecentralbank | ||
| Netincreaseintakingfrombanksandotherfinancialinstitutions | ||
| Cashreceiptsfrompremiumsunderdirectinsurancecontracts | ||
| Netcashreceiptsfromreinsurancebusiness | ||
| Netcashreceiptsfrompolicyholders’depositsandinvestmentcontractliabilities | ||
| Cashreceiptsfrominterest,feesandcommissions | ||
| Netincreaseintakingfrombanksandotherfinancialinstitutions | ||
| Netincreaseinfinancialassetssoldunderrepurchasearrangements | ||
| Netcashreceivedfromsecuritiestradingagency | ||
| Receiptsoftaxrefunds | 1,996,750.43 | 2,974,027.99 |
| Othercashreceiptsrelatingtooperatingactivities | 195,137,982.95 | 253,669,222.21 |
| Sub-totalofcashinflowsfromoperatingactivities | 14,948,148,074.05 | 13,357,032,896.39 |
| Cashpaymentsforgoodspurchasedandservicesreceived | 10,601,434,852.06 | 9,520,378,278.33 |
| Netincreaseinloansandadvancestocustomers | -24,141,357.18 | 11,344,610.37 |
| Netincreaseinbalancewiththecentralbankandduefrombanksandotherfinancialinstitutions | ||
| Cashpaymentsforclaimsandpolicyholders’benefitsunderdirectinsurancecontracts | ||
| Netincreaseinplacementswithbanksandotherfinancialinstitutions | ||
| Cashpaymentsforinterest,feesandcommissions | ||
| Cashpaymentsforinsurancepolicyholderdividends | ||
| Cashpaymentstoandonbehalfofemployees | 1,652,192,693.42 | 1,280,202,698.37 |
| Paymentofvarioustypesoftaxes | 161,767,416.65 | 176,899,520.26 |
| Othercashpaymentsrelatingtooperatingactivities | 1,995,093,586.73 | 1,787,237,435.98 |
| Sub-totalofcashoutflowsfromoperatingactivities | 14,386,347,191.68 | 12,776,062,543.31 |
| Netcashflowfromoperatingactivities | 561,800,882.37 | 580,970,353.08 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceiptsfromdisposalsandrecoveryofinvestments | 259,679,200.00 | |
| Cashreceiptsfrominvestmentincome | 560,366.45 | |
| Netcashreceiptsfromdisposalsoffixedassets,intangibleassetsandotherlong-termassets | 986,465.39 | 403,685.56 |
| Netcashreceiptsfromdisposalsofsubsidiariesandotherbusinessentities | 245,559,897.67 | |
| Othercashreceiptsrelatingtoinvestingactivities | 5,491,458,753.41 | 626,406,349.28 |
| Sub-totalofcashinflowsfrominvesting | 5,738,565,482.92 | 886,489,234.84 |
| activities | ||
| Cashpaymentstoacquireorconstructfixedassets,intangibleassetsandotherlong-termassets | 193,602,527.81 | 69,959,021.89 |
| Cashpaymentstoacquireinvestments | ||
| Netincreaseinpledgedloansreceivable | ||
| Netcashpaymentsforacquisitionsofsubsidiariesandotherbusinessentities | 1,486,980.09 | |
| Othercashpaymentsrelatingtoinvestingactivities | 8,736,000,000.00 | 622,500,000.00 |
| Sub-totalofcashoutflowsfrominvestingactivities | 8,931,089,507.90 | 692,459,021.89 |
| NetCashFlowfromInvestingActivities | -3,192,524,024.98 | 194,030,212.95 |
| III.CashFlowsfromFinancingActivities: | ||
| Cashreceiptsfrominvestmentsbyothers | 4,496,792,425.07 | |
| Including:cashreceivedbysubsidiariesfromminorityshareholders’investments | ||
| Cashreceiptsfromborrowings | 69,731,500.00 | 160,436,700.00 |
| Othercashreceiptsrelatingtofinancingactivities | ||
| Sub-totalofcashinflowsfromfinancingactivities | 4,566,523,925.07 | 160,436,700.00 |
| Cashrepaymentsofborrowings | 39,631,527.65 | 470,057,800.00 |
| Cashpaymentsfordistributionofdividendsorprofitsorsettlementofinterestexpenses | 234,040,696.91 | 192,215,024.91 |
| Including:dividendsorprofitpaidbysubsidiariestominorityshareholders | ||
| Othercashpaymentsrelatingtofinancingactivities | 65,826,408.71 | |
| Sub-totalofcashoutflowsfromfinancingactivities | 339,498,633.27 | 662,272,824.91 |
| Netcashflowfromfinancingactivities | 4,227,025,291.80 | -501,836,124.91 |
| IV.Effectofforeignexchangerate | 612,280.98 | 223,543.73 |
| changesoncashandcashequivalents | ||
| V.Netincreaseincashandcashequivalents | 1,596,914,430.17 | 273,387,984.85 |
| Add:openingbalanceofcashandcashequivalents | 5,314,463,484.01 | 5,041,075,499.16 |
| VI.Closingbalanceofcashandcashequivalents | 6,911,377,914.18 | 5,314,463,484.01 |
6.Statementofcashflowsoftheparentcompany
InRMB
| Item | 2021 | 2020 |
| I.CashFlowsfromOperatingActivities: | ||
| Cashreceiptsfromthesaleofgoodsandtherenderingofservices | ||
| Receiptsoftaxrefunds | 1,996,750.43 | |
| Othercashreceiptsrelatingtooperatingactivities | 211,758,714.55 | 41,857,033.57 |
| Sub-totalofcashinflowsfromoperatingactivities | 213,755,464.98 | 41,857,033.57 |
| Cashpaymentsforgoodspurchasedandservicesreceived | ||
| Cashpaymentstoandonbehalfofemployees | 49,283,696.15 | 33,162,880.94 |
| Paymentofvarioustypesoftaxes | 1,899,087.70 | |
| Othercashpaymentsrelatingtooperatingactivities | 46,516,142.78 | 42,247,660.59 |
| Sub-totalofcashoutflowsfromoperatingactivities | 97,698,926.63 | 75,410,541.53 |
| Netcashflowfromoperatingactivities | 116,056,538.35 | -33,553,507.96 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceiptsfromdisposalsandrecoveryofinvestments | 304,249,700.00 | 259,679,200.00 |
| Cashreceiptsfrominvestmentincome | 560,366.45 | |
| Netcashreceiptsfromdisposalsoffixedassets,intangibleassetsandotherlong-termassets |
| Netcashreceiptsfromdisposalsofsubsidiariesandotherbusinessentities | ||
| Othercashreceiptsrelatingtoinvestingactivities | ||
| Sub-totalofcashinflowsfrominvestingactivities | 304,810,066.45 | 259,679,200.00 |
| Cashpaymentstoacquireorconstructfixedassets,intangibleassetsandotherlong-termassets | 306,134.50 | 2,206,642.91 |
| Cashpaymentstoacquireinvestments | 4,495,792,101.20 | |
| Netcashpaymentsforacquisitionsofsubsidiariesandotherbusinessentities | ||
| Othercashpaymentsrelatingtoinvestingactivities | ||
| Sub-totalofcashoutflowsfrominvestingactivities | 4,496,098,235.70 | 2,206,642.91 |
| NetCashFlowfromInvestingActivities | -4,191,288,169.25 | 257,472,557.09 |
| III.CashFlowsfromFinancingActivities: | ||
| Cashreceiptsfrominvestmentsbyothers | 4,496,792,425.07 | |
| Cashreceiptsfromborrowings | ||
| Othercashreceiptsrelatingtofinancingactivities | ||
| Sub-totalofcashinflowsfromfinancingactivities | 4,496,792,425.07 | |
| Cashrepaymentsofborrowings | ||
| Cashpaymentsfordistributionofdividendsorprofitsorsettlementofinterestexpenses | 231,449,076.43 | 178,037,751.10 |
| Othercashpaymentsrelatingtofinancingactivities | 2,641,478.36 | |
| Sub-totalofcashoutflowsfromfinancingactivities | 234,090,554.79 | 178,037,751.10 |
| Netcashflowfromfinancingactivities | 4,262,701,870.28 | -178,037,751.10 |
| IV.Effectofforeignexchangeratechangesoncashandcashequivalents |
| V.Netincreaseincashandcashequivalents | 187,470,239.38 | 45,881,298.03 |
| Add:openingbalanceofcashandcashequivalents | 405,729,095.82 | 359,847,797.79 |
| VI.Closingbalanceofcashandcashequivalents | 593,199,335.20 | 405,729,095.82 |
7.Consolidatedstatementofchangesinowners’equity
Amountinthecurrentperiod
InRMB
| Item | 2021 | ||||||||||||||
| Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Generalriskreserve | Undistributedprofits | Others | Sub-total | |||||
| Preferenceshares | Perpetualbonds | Others | |||||||||||||
| I.Closingbalanceoftheprecedingyear | 1,780,377,511.00 | 4,838,937,706.35 | -2,759.37 | 87,139,560.14 | 3,881,526,167.30 | 10,587,978,185.42 | 33,243,061.28 | 10,621,221,246.70 | |||||||
| Add:Changesinaccountingpolicies | |||||||||||||||
| Correctionsofpriorperioderrors | |||||||||||||||
| Businesscombinationinvolvingenterprisesundercommoncontrol | |||||||||||||||
| Others | |||||||||||||||
| II.Openingbalanceofthecurrentyear | 1,780,377,511.00 | 4,838,937,706.35 | -2,759.37 | 87,139,560.14 | 3,881,526,167.30 | 10,587,978,185.42 | 33,243,061.28 | 10,621,221,246.70 | |||||||
| III.Changesfortheyear(decreaseisindicatedby“-”) | 90,343,304.00 | 4,405,448,797.20 | -11,023.81 | 17,885,823.15 | 1,864,755,272.27 | 6,378,422,172.81 | -2,479,175.44 | 6,375,942,997.37 | |||||||
| (I)Totalcomprehensiveincome | -11,023.81 | 2,114,090,171.85 | 2,114,079,148.04 | 389,543.23 | 2,114,468,691.27 | ||||||||||
| (II)Owners’contributionsand | 90,343,3 | 4,405,448,79 | 4,495,792,10 | -2,868,7 | 4,492,923,382.53 | ||||||||||
| reductionincapital | 04.00 | 7.20 | 1.20 | 18.67 | |||||||
| 1．Ordinarysharescontributedbyowners | 90,343,304.00 | 4,405,448,797.20 | 4,495,792,101.20 | -2,868,718.67 | 4,492,923,382.53 | ||||||
| 2．Capitalcontributionfromholdersofotherequityinstruments | |||||||||||
| 3.Share-basedpaymentrecognizedinowners’equity | |||||||||||
| 4.Others | |||||||||||
| (III)Profitdistribution | 17,885,823.15 | -249,334,899.58 | -231,449,076.43 | -231,449,076.43 | |||||||
| 1.Transfertosurplusreserve | 17,885,823.15 | -17,885,823.15 | |||||||||
| 2.Transfertogeneralriskreserve | |||||||||||
| 3.Distributionstoowners(shareholders) | -231,449,076.43 | -231,449,076.43 | -231,449,076.43 | ||||||||
| 4.Others | |||||||||||
| (IV)Transferswithinowners’equity | |||||||||||
| 1.Capitalizationofcapitalreserve | |||||||||||
| 2.Capitalizationofsurplusreserve | |||||||||||
| 3.Lossoffsetbysurplusreserve | |||||||||||
| 4.Retainedearningscarriedforwardfromchangesindefinedbenefitplans | |||||||||||
| 5.Retainedearningscarriedforwardfromothercomprehensiveincome |
| 6.Others | |||||||||||||
| (V)Specialreserve | |||||||||||||
| 1.Transfertospecialreserveintheperiod | |||||||||||||
| 2.Amountutilizedintheperiod | |||||||||||||
| (VI)Others | |||||||||||||
| IV.Closingbalanceofthecurrentperiod | 1,870,720,815.00 | 9,244,386,503.55 | -13,783.18 | 105,025,383.29 | 5,746,281,439.57 | 16,966,400,358.23 | 30,763,885.84 | 16,997,164,244.07 |
Amountinpriorperiod
InRMB
| Item | 2020 | ||||||||||||||
| Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners’equity | |||||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Generalriskreserve | Undistributedprofits | Others | Sub-total | |||||
| Preferenceshares | Perpetualbonds | Others | |||||||||||||
| I.Closingbalanceoftheprecedingyear | 1,780,377,511.00 | 4,838,937,706.35 | 84,782,321.71 | 2,079,761,680.01 | 8,783,859,219.07 | 36,098,165.00 | 8,819,957,384.07 | ||||||||
| Add:Changesinaccountingpolicies | |||||||||||||||
| Correctionsofpriorperioderrors | |||||||||||||||
| Businesscombinationinvolvingenterprisesundercommoncontrol | |||||||||||||||
| Others | |||||||||||||||
| II.Openingbalanceofthecurrentyear | 1,780,377,511.00 | 4,838,937,706.35 | 84,782,321.71 | 2,079,761,680.01 | 8,783,859,219.07 | 36,098,165.00 | 8,819,957,384.07 | ||||||||
| III.Changesfortheyear(decreaseisindicatedby“-”) | -2,759.37 | 2,357,238.43 | 1,801,764,487.29 | 1,804,118,966.35 | -2,855,103.72 | 1,801,263,862.63 | |||||||||
| (I)Totalcomprehensiveincome | -2,759.37 | 1,982,159,476.82 | 1,982,156,717.45 | -2,822,927.49 | 1,979,333,789.96 | |||||
| (II)Owners’contributionsandreductionincapital | -32,176.23 | -32,176.23 | ||||||||
| 1．Ordinarysharescontributedbyowners | ||||||||||
| 2．Capitalcontributionfromholdersofotherequityinstruments | ||||||||||
| 3.Share-basedpaymentrecognizedinowners’equity | ||||||||||
| 4.Others | -32,176.23 | -32,176.23 | ||||||||
| (III)Profitdistribution | 2,357,238.43 | -180,394,989.53 | -178,037,751.10 | -178,037,751.10 | ||||||
| 1.Transfertosurplusreserve | 2,357,238.43 | -2,357,238.43 | ||||||||
| 2.Transfertogeneralriskreserve | ||||||||||
| 3.Distributionstoowners(shareholders) | -178,037,751.10 | -178,037,751.10 | -178,037,751.10 | |||||||
| 4.Others | ||||||||||
| (IV)Transferswithinowners’equity | ||||||||||
| 1.Capitalizationofcapitalreserve | ||||||||||
| 2.Capitalizationofsurplusreserve | ||||||||||
| 3.Lossoffsetbysurplusreserve | ||||||||||
| 4.Retainedearningscarriedforward |
| fromchangesindefinedbenefitplans | |||||||||||||
| 5.Retainedearningscarriedforwardfromothercomprehensiveincome | |||||||||||||
| 6.Others | |||||||||||||
| (V)Specialreserve | |||||||||||||
| 1.Transfertospecialreserveintheperiod | |||||||||||||
| 2.Amountutilizedintheperiod | |||||||||||||
| (VI)Others | |||||||||||||
| IV.Closingbalanceofthecurrentperiod | 1,780,377,511.00 | 4,838,937,706.35 | -2,759.37 | 87,139,560.14 | 3,881,526,167.30 | 10,587,978,185.42 | 33,243,061.28 | 10,621,221,246.70 |
8.Statementofchangesinowners’equityoftheparentcompany
Amountinthecurrentperiod
InRMB
| Item | 2021 | |||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofits | Others | Totalowners’equity | |||
| Preferenceshares | Perpetualbonds | Others | ||||||||||
| I.Closingbalanceoftheprecedingyear | 1,780,377,511.00 | 6,179,334,010.36 | 87,139,560.14 | 370,756,098.26 | 8,417,607,179.76 | |||||||
| Add:Changesinaccountingpolicies | ||||||||||||
| Correctionsofpriorperioderrors | ||||||||||||
| Others | ||||||||||||
| II.Openingbalanceofthecurrentyear | 1,780,377,511.00 | 6,179,334,010.36 | 87,139,560.14 | 370,756,098.26 | 8,417,607,179.76 | |||||||
| III.Changesfortheyear(decreaseisindicatedby“-”) | 90,343,304.00 | 4,405,448,797.20 | 17,885,823.15 | -70,476,668.12 | 4,443,201,256.23 | |||
| (I)Totalcomprehensiveincome | 178,858,231.46 | 178,858,231.46 | ||||||
| (II)Owners’contributionsandreductionincapital | 90,343,304.00 | 4,405,448,797.20 | 4,495,792,101.20 | |||||
| 1．Ordinarysharescontributedbyowners | 90,343,304.00 | 4,405,448,797.20 | 4,495,792,101.20 | |||||
| 2．Capitalcontributionfromholdersofotherequityinstruments | ||||||||
| 3.Share-basedpaymentrecognizedinowners’equity | ||||||||
| 4.Others | ||||||||
| (III)Profitdistribution | 17,885,823.15 | -249,334,899.58 | -231,449,076.43 | |||||
| 1.Transfertosurplusreserve | 17,885,823.15 | -17,885,823.15 | ||||||
| 3.Distributionstoowners(shareholders) | -231,449,076.43 | -231,449,076.43 | ||||||
| 3.Others | ||||||||
| (IV)Transferswithinowners’equity | ||||||||
| 1.Capitalizationofcapitalreserve | ||||||||
| 2.Capitalizationofsurplusreserve | ||||||||
| 3.Lossoffsetbysurplusreserve | ||||||||
| 4.Retainedearningscarriedforwardfromchangesindefinedbenefitplans |
| 5.Retainedearningscarriedforwardfromothercomprehensiveincome | ||||||||
| 6.Others | ||||||||
| (V)Specialreserve | ||||||||
| 1.Transfertospecialreserveintheperiod | ||||||||
| 2.Amountutilizedintheperiod | ||||||||
| (VI)Others | ||||||||
| IV.Closingbalanceofthecurrentperiod | 1,870,720,815.00 | 10,584,782,807.56 | 105,025,383.29 | 300,279,430.14 | 12,860,808,435.99 |
Amountinpriorperiod
InRMB
| Item | 2020 | |||||||||||
| Sharecapital | Otherequityinstruments | Capitalreserve | Less:Treasuryshares | Othercomprehensiveincome | Specialreserve | Surplusreserve | Undistributedprofits | Others | Totalowners’equity | |||
| Preferenceshares | Perpetualbonds | Others | ||||||||||
| I.Closingbalanceoftheprecedingyear | 1,780,377,511.00 | 6,179,334,010.36 | 84,782,321.71 | 527,578,703.45 | 8,572,072,546.52 | |||||||
| Add:Changesinaccountingpolicies | ||||||||||||
| Correctionsofpriorperioderrors | ||||||||||||
| Others | ||||||||||||
| II.Openingbalanceofthecurrentyear | 1,780,377,511.00 | 6,179,334,010.36 | 84,782,321.71 | 527,578,703.45 | 8,572,072,546.52 | |||||||
| III.Changesfortheyear(decreaseisindicatedby“-”) | 2,357,238.43 | -156,822,605.19 | -154,465,366.76 | |||||||||
| (I)Totalcomprehensiveincome | 23,572,384.34 | 23,572,384.34 | ||||||||||
| (II)Owners’contributionsandreductionincapital | |||||
| 1．Ordinarysharescontributedbyowners | |||||
| 2．Capitalcontributionfromholdersofotherequityinstruments | |||||
| 3.Share-basedpaymentrecognizedinowners’equity | |||||
| 4.Others | |||||
| (III)Profitdistribution | 2,357,238.43 | -180,394,989.53 | -178,037,751.10 | ||
| 1.Transfertosurplusreserve | 2,357,238.43 | -2,357,238.43 | |||
| 3.Distributionstoowners(shareholders) | -178,037,751.10 | -178,037,751.10 | |||
| 3.Others | |||||
| (IV)Transferswithinowners’equity | |||||
| 1.Capitalizationofcapitalreserve | |||||
| 2.Capitalizationofsurplusreserve | |||||
| 3.Lossoffsetbysurplusreserve | |||||
| 4.Retainedearningscarriedforwardfromchangesindefinedbenefitplans | |||||
| 5.Retainedearningscarriedforwardfromothercomprehensive |
| income | ||||||||
| 6.Others | ||||||||
| (V)Specialreserve | ||||||||
| 1.Transfertospecialreserveintheperiod | ||||||||
| 2.Amountutilizedintheperiod | ||||||||
| (VI)Others | ||||||||
| IV.Closingbalanceofthecurrentperiod | 1,780,377,511.00 | 6,179,334,010.36 | 87,139,560.14 | 370,756,098.26 | 8,417,607,179.76 |
III.BasicInformation
MangoExcellentMediaCo.,Ltd.(hereinafterreferredtoasthe“Company”),formerlyknownasHappigoInc.,wasestablishedonthebasisoftheoverallchangeofHappigoCo.,Ltd.ItcompletedtheregistrationwiththeAdministrationforIndustryandCommerceofChangshaCity,HunanProvinceonDecember28,2005,withtheheadquarterlocatedinChangshaCity,HunanProvince.InJuly2018,theCompanychangeditsnamefrom“HappigoInc.”to“MangoExcellentMediaCo.,Ltd”.Currently,theCompanyholdsabusinesslicensewithunifiedsocialcreditcodenumbered91430100782875193K,withregisteredcapitalamountingtoRMB1,870,720,815.00andatotalof1,870,720,815shares(withtheparvalueofRMB1pershare)comprisingrestrictedoutstandingA-shareof939,364,200sharesandunrestrictedA-shareof931,356,700sharesasofDecember31,2021.TheCompany’sshareswerelistedfortradingontheShenzhenStockExchangeonJanuary21,2015.
TheCompanyisanentityengagedintheinternetnewmediaindustry.Itsprincipaloperatingactivitiescanbedividedintothreeparts,namelynewmediaplatformoperation,newmediainteractiveentertainmentcontentproductionandmediaretailbusiness.
Thesefinancialstatementswereapprovedbythe8thmeetingofthefourthboardofdirectorsoftheCompanyonApril21,2022forissuance.
Twenty-sevencompaniesincludingHunantv.comInteractiveEntertainmentMediaCo.,Ltd.(hereinafterreferredtoas“Hunantv.com”),ShanghaiEE-MediaCo.,Ltd.(hereinafterreferredtoas“EE-Media”),andHappigoCo.,Ltd.wereincludedinthescopeoftheconsolidatedfinancialstatementsforthecurrentperiod.Fordetails,pleaseseeNoteVIIIandNoteIXtotheFinancialStatements.IV.BasisofPreparationofFinancialStatements
1.BasisofpreparationTheCompany’sfinancialstatementsarepreparedonagoing-concernbasis.
2.Going-concerningTheCompanyhasdetectednoeventsorcircumstancesthatmaycastsignificantdoubtuponitsabilitytocontinueasagoingconcernwithin12monthsfromthereportingperiod.
V.SignificantAccountingPoliciesandAccountingEstimates
Remindersonspecificaccountingpoliciesandaccountingestimates:
Notice:TheCompanyhasformulatedthespecificaccountingpoliciesandmadethespecificaccountingestimateswithrespecttotheimpairmentoffinancialinstruments,depreciationoffixedassets,depreciationofrightofuseassets,amortizationofintangibleassets,recognitionofrevenuesandothertransactionsandeventsaccordingtotheactualproductionandoperationcharacteristicsoftheCompany.
1.StatementofcompliancewiththeAccountingStandardsforBusinessEnterprises
ThefinancialstatementspreparedbytheCompanyconformtotherequirementsoftheAccountingStandardsforBusinessEnterprisesandtrulyandcompletelyreflecttheCompany’sfinancialposition,operatingresults,cashflowsandotherrelatedinformation.
2.Accountingperiod
TheCompany’saccountingyearisfromJanuary1toDecember31ofeachcalendaryear.
3.OperatingcycleTheCompanyhasarelativelyshortoperatingcycle,anddeterminestheliquidityofassetsandliabilitiesonthebasisof12months.
4.FunctionalcurrencyTheCompanyanditsdomesticsubsidiariesadoptRMBasitsfunctionalcurrency,whileMgtv.com(HongKong)MediaCompanyLimitedengagesinoverseasoperationsandaccordinglyselectstheUSdollar,thecurrencyusedinthemaineconomicenvironmentinwhichitoperates,asitsfunctionalcurrency.
5.Accountingtreatmentofbusinesscombinationsinvolvingenterprisesundercommoncontrolandbusinesscombinationsnotinvolvingenterprisesundercommoncontrol
1.AccountingtreatmentofbusinesscombinationinvolvingenterprisesundercommoncontrolAssetsandliabilitiesthatareobtainedbytheCompanyinabusinesscombinationshallbemeasuredattheircarryingamountsintheconsolidatedfinancialstatementsoftheultimatecontrolleratthecombinationdateasrecordedbytheacquiree.Thedifferencebetweenthecarryingamountoftheowners’equityoftheacquireeasstatedintheconsolidatedfinancialstatementsoftheultimatecontrollerandthecarryingamountofthetotalconsiderationpaidortotalparvalueofthesharesissuedinconnectionwiththecombinationistreatedasanadjustmenttothecapitalreserve.Incasethecapitalreserveisnotsufficienttoabsorbthedifference,theremainingbalanceisadjustedagainsttheretainedearnings.
2.AccountingtreatmentofbusinesscombinationsnotinvolvingenterprisesundercommoncontrolWherethecostofthecombinationexceedstheCompany’sshareofthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceisrecognizedasgoodwillatthedateofacquisition.WherethecostofcombinationislowerthantheCompany’sshareofthefairvalueoftheacquiree’sidentifiablenetassets,theCompanyreviewsthemeasurementofthefairvalueofeachoftheidentifiableassets,liabilitiesandcontingentliabilitiesacquiredfromtheacquireeandthecostofcombination,andifthecostofcombinationasreviewedisstilllowerthantheCompany’sshareofthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceisrecognizedinprofitorlossforthecurrentperiod.
6.MethodofpreparationoffinancialstatementsTheparentcompanyincludesallofitscontrolledsubsidiariesinitsconsolidatedfinancialstatements.TheconsolidatedfinancialstatementsarepreparedbytheparentcompanyinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.33——ConsolidatedFinancialStatements,onthebasisoftherespectivefinancialstatementsoftheparentcompanyanditssubsidiaries,byreferencetootherrelevantdata.
7.Classificationofjointarrangementsandaccountingtreatmentofjointoperations
1.Jointarrangementsareclassifiedintojointoperationsandjointventures.
2.WhentheCompanyisapartytoajointoperation,theCompanyrecognizesthefollowingitemsrelatingtoitsinterestinthejointoperation:
(1)theassetsindividuallyheldbytheCompany,andtheCompany’sshareoftheassetsheldjointly;
(2)theliabilitiesincurredindividuallybytheCompany,andtheCompany’sshareoftheliabilitiesincurredjointly;
(3)theCompany’srevenuefromthesaleofitsshareofoutputofthejointoperation;
(4)theCompany’sshareofrevenuefromthesaleofassetsbythejointoperation;and
(5)theexpensesincurredindividuallybytheCompany,andtheCompany’sshareoftheexpensesincurredjointly.
8.Recognitionofcashandcashequivalents
Forthepurposeofthestatementofcashflows,cashcomprisescashonhandanddemanddeposits,andcashequivalentscompriseshort-term,highlyliquidinvestmentsthatarereadilyconvertibleintoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangesinvalue.
9.Foreigncurrencytransactionsandtranslationofforeigncurrencyfinancialstatements
1.TranslationofforeigncurrencytransactionsUponinitialrecognition,foreigncurrencytransactionsaretranslatedintoRMBusingtheexchangeratesprevailingatthetransactiondates.Atthebalancesheetdate,monetaryitemsdenominatedinforeigncurrenciesaretranslatedintoRMBusingthespotexchangeratesatthebalancesheetdate.Exchangedifferencesarisingfromsuchtranslationsarerecognizedinprofitorlossforthecurrentperiod,exceptforthoseattributabletoforeigncurrencyborrowingsthathavebeentakenoutspecificallyfortheacquisitionorconstructionofqualifyingassetsandaccruedinterest.Non-monetaryitemsdenominatedinforeigncurrenciesthataremeasuredathistoricalcostaretranslatedusingtheforeignexchangeratesrulingatthetransactiondates,withoutadjustingtheamountsinRMB.Non-monetaryitemsdenominatedinforeigncurrenciesthataremeasuredatfairvaluearetranslatedusingtheforeignexchangeratesprevailingatthedatesthefairvaluewasdetermined,andexchangedifferencesarisingfromsuchtranslationsarerecognizedinprofitorlossforthecurrentperiodorothercomprehensiveincome.
2.TranslationofforeigncurrencyfinancialstatementsTheassetandliabilityitemsinthebalancesheetaretranslatedatthespotexchangeratesatthebalancesheetdate.Theowners’equityitemsotherthan“Undistributedprofits”aretranslatedatthespotexchangeratesatthetransactiondates.Theincomeandexpenseitemsintheincomestatementsaretranslatedatthespotexchangeratesatthetransactiondates.Exchangedifferencesarisingfromsuchtranslationsarerecognizedinothercomprehensiveincome.
10.Financialinstruments
1.Classificationoffinancialassetsandfinancialliabilities
Uponinitialrecognition,financialassetsareclassifiedinto:(1)financialassetsatamortizedcost;(2)financialassetsatfairvaluethroughothercomprehensiveincome;and(3)financialassetsatfairvaluethroughprofitorloss.Uponinitialrecognition,financialliabilitiesareclassifiedinto:(1)financialliabilitiesatfairvaluethroughprofitorloss;(2)financialliabilitiesarisingasaresultofthetransferoffinancialassetsnotmeetingthecriteriaforderecognitionorcontinuinginvolvementinthefinancialassetstransferred;(3)financialguaranteecontractsnotfallingunderitems(1)and(2),andloancommitmentsnotfallingunderitem(1)andbelowmarketinterestrate;and(4)financialliabilitiesatamortizedcost.
2.Recognition,measurementandderecognitionoffinancialassetsandfinancialliabilities
(1)RecognitionandinitialmeasurementoffinancialassetsandfinancialliabilitiesWhentheCompanybecomesapartytoafinancialinstrumentcontract,afinancialassetorliabilityisrecognized.Financialassetsandliabilitiesareinitiallymeasuredatfairvalue.Transactioncostsrelatingtofinancialassetsorliabilitiesatfairvaluethroughprofitorlossaredirectlyrecognizedinprofitorlossforthecurrentperiod.Transactioncostsrelatingtootherkindsoffinancialassetsorliabilitiesareincludedintheirinitiallyrecognizedamount.However,wheretheaccountsthatdonotcontainanysignificantfinancingcomponentorarerecognizedbytheCompanywithouttakingintoconsiderationthesignificantfinancingcomponentsunderthecontractswithatermoflessthanoneyearuponinitialrecognitionareinitiallymeasuredattransactionpricedefinedintheAccountingStandardsforBusinessEnterprisesNo.14—Revenue.
(2)Subsequentmeasurementoffinancialassets
1)FinancialassetsatamortizedcostFinancialassetsatamortizedcostaresubsequentlymeasuredatamortizedcostusingtheeffectiveinterestmethod.Gainsorlossesonfinancialassetsatamortizedcostthatdonotbelongtoanyhedgingrelationshiparerecognizedinprofitorlossforthecurrentperioduponderecognition,reclassification,amortizationusingtheeffectiveinterestmethodorrecognitionofimpairment.
2)InvestmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincomeInvestmentsinequityinstrumentsatfairvaluethroughothercomprehensiveincomearesubsequentlymeasuredatfairvalue.Interest,impairmentlossesorgainsandexchangegainsorlossescalculatedusingtheeffectiveinterestmethodarerecognizedinprofitorlossforthecurrentperiod,andothergainsorlossesarerecognizedinothercomprehensiveincome.Onderecognition,thecumulativegainorlosspreviouslyincludedinothercomprehensiveincomeisremovedoutfromothercomprehensiveincomeandincludedinprofitorlossforthecurrentperiod.
3)InvestmentsinequityinstrumentsatfairvaluethroughothercomprehensiveincomeInvestmentsinequityinstrumentsatfairvaluethroughothercomprehensiveincomearesubsequentlymeasuredatfairvalue.Dividendsreceived(otherthanthosereceivedasrecoveryofinvestmentcost)arerecognizedinprofitorlossforthecurrentperiod,andothergainsorlossesarerecognizedinothercomprehensiveincome.Onderecognition,thecumulativegainorlosspreviouslyincludedinothercomprehensiveincomeisremovedoutfromothercomprehensiveincomeandincludedinretainedearnings.
4)FinancialassetsatfairvaluethroughprofitorlossFinancialassetsatfairvaluethroughprofitorlossaresubsequentlymeasuredatfairvalue.Gainsorlossesthereon,includinginterestanddividendincome,arerecognizedinprofitorlossforthecurrentperiod,exceptthefinancialassetsbelongingtoanyhedgingrelationship.
(3)Subsequentmeasurementoffinancialliabilities
1)FinancialliabilitiesatfairvaluethroughprofitorlossFinancialliabilitiesatfairvaluethroughprofitorlossincludefinancialliabilitiesheldfortrading(includingderivativesclassifiedasfinancialliabilities),andfinancialliabilitiesdirectlydesignatedasatfairvaluethroughprofitorloss.Suchfinancialliabilitiesaresubsequentlymeasuredatfairvalue.ChangesinthefairvalueoffinancialliabilitiesdesignatedasatfairvaluethroughprofitorlossarisingoutofchangesintheCompany’screditriskarerecognizedinothercomprehensiveincome,unlesssuchtreatmentwillresultinorincreaseanyaccountingmismatchinprofitorloss.Othergainsorlossesonsuchfinancialliabilities,includinginterestexpensesandchangesinfairvaluenotarisingoutofchangesintheCompany’screditrisk,arerecognizedinprofitorlossforthecurrentperiod,exceptthefinancialliabilitiesbelongingtoanyhedgingrelationship.Onderecognition,thecumulativegainorlosspreviously
includedinothercomprehensiveincomeisremovedoutfromothercomprehensiveincomeandincludedinretainedearnings.
2)FinancialliabilitiesarisingasaresultofthetransferoffinancialassetsnotmeetingthecriteriaforderecognitionorcontinuinginvolvementinthefinancialassetstransferredSuchfinancialliabilitiesaremeasuredinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.23——TransferofFinancialAssets.
3)Financialguaranteecontractsnotfallingunderitems1)and2)above,andloancommitmentsnotfallingunderitem1)aboveandbelowmarketinterestrateSuchfinancialliabilitiesaresubsequentlymeasuredatthehigherof①provisionforimpairmentlossesdeterminedaccordingtothepolicyforimpairmentoffinancialinstruments;and②balanceoftheinitiallyrecognizedamountafterdeductionoftheaccumulatedamortizationdeterminedinaccordancewithAccountingStandardsforBusinessEnterprisesNo.14—Revenue.
4)FinancialliabilitiesatamortizedcostSuchfinancialliabilitiesaremeasuredatamortizedcostusingtheeffectiveinterestmethod.Gainsorlossesonfinancialliabilitiesatamortizedcostthatdonotbelongtoanyhedgingrelationshiparerecognizedinprofitorlossforthecurrentperioduponderecognitionoramortizationusingtheeffectiveinterestmethod.
(4)Derecognitionoffinancialassetsandfinancialliabilities
1)Financialassetsarederecognizedwhen:
①thecontractualrighttoreceivecashflowsfromthefinancialassetshasexpired;or②thefinancialassetshavebeentransferredandsuchtransfermeetsthecriteriaforderecognitionoffinancialassetsassetforthintheAccountingStandardsforBusinessEnterprisesNo.23--TransferofFinancialAssets.
2)Afinancialliability(orpartthereof)isderecognizedwhenallorpartoftheoutstandingobligationsthereonhavebeendischarged.
3.DeterminationandmeasurementoffinancialassetstransferredWhenafinancialassetoftheCompanyistransferred,ifsubstantiallyalltherisksandrewardsincidentaltotheownershipofthefinancialassethavebeentransferred,thefinancialassetisderecognized,andtherightsandobligationsincurredorretainedinsuchtransferareseparatelyrecognizedasassetsorliabilities(asthecasemaybe).IftheCompanyretainssubstantiallyalltherisksandrewardsofownershipofafinancialasset,theCompanyshallnotderecognizethefinancialasset.IftheCompanyretainssubstantiallyalltherisksandrewardsofownershipofafinancialasset,theCompanyshallnotderecognizethefinancialasset.IftheCompanyneithertransferrednorretainedasubstantialportionofallrisksandrewardsincidentaltotheownershipofthefinancialasset,then:(1)iftheCompanydoesnotretaincontroloverthefinancialasset,thefinancialassetisderecognized,andtherightsandobligationsincurredorretainedinsuchtransferareseparatelyrecognizedasassetsorliabilities(asthecasemaybe);and(2)iftheCompanyretainscontroloverthefinancialasset,thefinancialassetcontinuestoberecognizedtotheextentoftheCompany’scontinuinginvolvementinthefinancialassettransferred,andacorrespondingliabilityisrecognized.Ifanentiretransferofafinancialassetmeetsthecriteriaforderecognition,thedifferencebetween(1)thecarryingamountofthefinancialassettransferredatthedateofderecognition;and(2)thesumoftheconsiderationreceivedfromthetransferandtheportionofthecumulativeamountofchangesinfairvaluedirectlyrecordedasothercomprehensiveincomeoriginallythatcorrespondstothepartderecognized(wherethefinancialassettransferredisaninvestmentindebtinstrumentsatfairvaluethroughothercomprehensiveincome)isrecognizedinprofitorlossforthecurrentperiod.Ifpartofafinancialassetistransferredandtheparttransferredentirelymeetsthecriteriaforderecognition,thetotalcarryingamountofthefinancialassetimmediatelypriortothetransferisallocatedbetweenthepartderecognizedandthepartnotderecognizedinproportiontotheirrelativefairvalueatthedateoftransfer,andthedifferencebetween(1)thecarryingamountofthepartderecognizedand(2)thesumoftheconsiderationreceivedfromthetransferofthepartderecognizedandtheportionofthecumulativeamountofchangesinfairvaluedirectlyrecordedasothercomprehensiveincomeoriginallythatcorrespondstothepartderecognized(wherethefinancialassettransferredisaninvestmentindebtinstrumentsatfairvaluethroughothercomprehensiveincome)isrecognizedinprofitorlossforthecurrentperiod.
4.DeterminationoffairvalueoffinancialassetsandfinancialliabilitiesTheCompanyadoptsthevaluationtechniquesapplicabletothecurrentsituationsandwithsufficientdataavailableandsupportof
otherinformationtodeterminethefairvalueoffinancialassetsandfinancialliabilities.TheCompanyclassifiestheinputsusedbythevaluationtechniquesinthefollowinglevelsandusestheminturn:
(1)Level1inputs:quotedmarketprice(unadjusted)inanactivemarketforanidenticalassetorliabilityavailableatthedateofmeasurement;
(2)Level2inputs:inputsotherthaninputsincludedwithinLevel1thatareobservabledirectlyorindirectly.Thiscategoryincludesquotedpricesforsimilarassetsorliabilitiesinactivemarkets,quotedpricesforidenticalorsimilarassetsorliabilitiesininactivemarkets,observableinputsotherthanquotedprices(suchasinterestrateandyieldcurvesobservableduringregularintervalsofquotation),andinputsvalidatedbythemarket;
(3)Level3inputs:inputsthatareunobservable.Thiscategoryincludesinterestrateorstockvolatilitythatcannotbedirectlyobservedorvalidatedbyobservablemarketdata,futurecashflowsfromretirementobligationincurredinbusinesscombinations,andfinancialforecastsmadeusingowndata.
5.Impairmentoffinancialinstruments
(1)MeasurementandaccountingtreatmentofimpairmentoffinancialinstrumentsTheCompanydeterminestheimpairmentandassessesprovisionforimpairmentlossesoffinancialassetsatamortizedcost,investmentsindebtinstrumentsatfairvaluethroughothercomprehensiveincome,leasereceivable,loancommitmentsotherthanfinancialliabilitiesdesignatedatfairvaluethroughprofitorloss,andfinancialguaranteecontractsotherthanfinancialliabilitiesdesignatedatfairvaluethroughprofitorlossandfinancialliabilitiesarisingasaresultofthetransferoffinancialassetsnotmeetingthecriteriaforderecognitionorcontinuinginvolvementinthefinancialassetstransferred,onthebasisofexpectedcreditlosses.Expectedcreditlossistheweightedaverageofcreditlossesonfinancialinstrumentstakingintoaccountthepossibilityofdefault.Creditlossisthepresentvalueofthedifferencebetweenallcontractualcashflowsreceivableunderthecontractandestimatedfuturecashflowsdiscountedattheoriginaleffectiveinterestrate,i.e.,thepresentvalueofallcashshortage,whereintheCompany’spurchasedororiginatedfinancialassetsthathavebecomecreditimpairedarediscountedattheircredit-adjustedeffectiveinterestrate.Withrespecttopurchasedororiginatedfinancialassetsthathavebecomecreditimpaired,atthebalancesheetdate,theCompanyrecognizesalossallowanceequaltothecumulativeamountofchangesinlifetimeexpectedcreditlossessinceinitialrecognition.WithrespecttoaccountsreceivableandcontractassetsthatarisefromthetransactionsregulatedundertheAccountingStandardforBusinessEnterprisesNo.14—RevenueanddonotcontainanysignificantfinancingcomponentorarerecognizedbytheCompanywithouttakingintoconsiderationthesignificantfinancingcomponentsunderthecontractswithatermoflessthanoneyear,theCompanyusesthesimplemeasurementmethodandrecognizesalossallowanceequaltothelifetimeexpectedcreditlosses.Withrespecttofinancialassetsnotusingthemeasurementmethodsstatedabove,ateachbalancesheetdate,theCompanyassesseswhetherthecreditriskhasincreasedsignificantlysinceinitialrecognition,andrecognizesalossallowanceequaltothelifetimeexpectedcreditlossesifthecreditriskhasincreasedsignificantlysinceinitialrecognition,ortotheexpectedcreditlosseswithinthenext12monthsifthecreditriskhasnotincreasedsignificantlysinceinitialrecognition.Withrespecttofinancialassetsnotusingthemeasurementmethodsstatedabove,ateachbalancesheetdate,theCompanyassesseswhetherthecreditriskhasincreasedsignificantlysinceinitialrecognition,andrecognizesalossallowanceequaltothelifetimeexpectedcreditlossesifthecreditriskhasincreasedsignificantlysinceinitialrecognition,ortotheexpectedcreditlosseswithinthenext12monthsifthecreditriskhasnotincreasedsignificantlysinceinitialrecognition.TheCompanyusesreasonableandsupportableinformation,includingforward-lookinginformation,andcomparesthepossibilityofdefaultatthebalancesheetdatewiththepossibilityofdefaultuponinitialrecognition,todeterminewhetherthecreditriskofthefinancialinstrumentshasincreasedsignificantlysinceinitialrecognition.Atthebalancesheetdate,iftheCompanydeterminesthatafinancialinstrumenthaslowcreditrisk,theCompanyassumesthatitscreditriskhasnotincreasedsignificantlysinceinitialrecognition.TheCompanyassessesexpectedcreditriskandmeasuresexpectedcreditlossesoffinancialinstrumentsindividuallyorcollectively.Whenassessingthefinancialinstrumentscollectively,theCompanyincludesthefinancialinstrumentsindifferentgroupsaccording
totheircommonriskcharacteristics.Ateachbalancesheetdate,theCompanyre-assessestheexpectedcreditlosses,withtheamountofincreaseinorreversaloflossallowancerecognizedinprofitorlossforthecurrentperiodasimpairmentlossesorgains.Withrespecttoafinancialassetatamortizedcost,itscarryingamountrecordedinthebalancesheetiswrittenoffagainstthelossallowance.Withrespecttoaninvestmentindebtinstrumentsatfairvaluethroughothercomprehensiveincome,theCompanyrecognizesthelossallowanceinothercomprehensiveincome,withoutreducingitscarryingamount.
(2)Financialinstrumentsforwhichexpectedcreditriskisassessedandexpectedcreditlossesaremeasuredcollectively
| Item | Basisforgrouping | Methodformeasuringexpectedcreditlosses |
| Otherreceivables-groupofreceivablesfromrelatedpartiescontrolledbythesameactualcontroller | Natureofreceivables | Calculatetheexpectedcreditlossesaccordingtothedefaultriskexposureandrateofexpectedcreditlosswithinthenext12monthsorlifetimeexpectedcreditlossesbyreferencetohistoriccreditlossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions. |
| Otherreceivables-groupofdepositandsecurityreceivable | ||
| Otherreceivables-groupingbyage | Aging |
(3)Accountsreceivableandcontractassetsforwhichexpectedcreditlossesaremeasuredcollectively
1)Specificgroupingandmethodformeasuringexpectedcreditlosses
| Item | Basisforgrouping | Methodformeasuringexpectedcreditlosses |
| Notesreceivable-banker’sacceptancebills | Typeofnotes | Calculatetheexpectedcreditlossesaccordingtothedefaultriskexposureandlifetimeexpectedcreditlossesbyreferencetohistoriccreditlossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions. |
| Notesreceivable-commercialacceptancebillsreceivable | ||
| Accountsreceivables-groupofreceivablesfromrelatedpartiescontrolledbythesameactualcontroller | Groupofreceivablesfromrelatedpartiescontrolledbythesameactualcontroller | |
| Accountsreceivable-groupingbyage | Aging | Prepareacomparisontableoftheageofaccountsreceivableandrateoflifetimeexpectedcreditloss,andcalculatetheexpectedcreditlossesbyreferencetohistoriccreditlossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions. |
| Othercurrentassets-loansandadvancestocustomers | Loansandadvancestocustomers | Calculatetheexpectedcreditlossesaccordingtothedefaultriskexposureandlifetimeexpectedcreditlossesbyreferencetohistoriccreditlossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions. |
| Contractassets-groupofoperatorbusiness | Operatorbusiness | Calculatetheexpectedlossesaccordingtothedefaultriskexposureandrateoflifetimeexpectedlossbyreferencetohistoriclossexperience,andtakingintoaccountthecurrentsituationsandpredictionoffutureeconomicconditions. |
2)Accountsreceivable-comparisontableoftheageofaccountsreceivableandrateoflifetimeexpectedcreditloss
| Aging | AccountsreceivableRateofexpectedcreditloss(%) |
| GroupI:MangoTVInternetVideoBusiness(Hunantv.com) | |
| Within1year(inclusive,samebelow) | 5.00 |
| Morethan1yearbutnotexceeding2years | 10.00 |
| Morethan2yearsbutnotexceeding3years | 30.00 |
| Morethan3yearsbutnotexceeding4years | 50.00 |
| Morethan4yearsbutnotexceeding5years | 100.00 |
| Over5years | 100.00 |
| GroupII:Newmediainteractiveentertainmentproductionandoperation,,contente-businessandothers(companiesotherthanHunantv.com) | |
| Within1year(inclusive,samebelow) | 1.00 |
| Morethan1yearbutnotexceeding2years | 5.00 |
| Morethan2yearsbutnotexceeding3years | 10.00 |
| Morethan3yearsbutnotexceeding4years | 30.00 |
| Morethan4yearsbutnotexceeding5years | 50.00 |
| Over5years | 100.00 |
6.OffsettingoffinancialassetsandfinancialliabilitiesFinancialassetsandfinancialliabilitiesarepresentedseparatelyinthebalancesheetandarenotoffset.However,afinancialassetandafinancialliabilityshallbeoffset,andthenetamountpresentedinthebalancesheetwhenbothofthefollowingconditionsaresatisfied:(1)theCompanyhasalegalrighttosetofftherecognizedamountsandthelegalrightiscurrentlyenforceable;and(2)theCompanyintendseithertosettleonanetbasis,ortorealizethefinancialassetandsettlethefinancialliabilitysimultaneously.Inaccountingforatransferofafinancialassetthatdoesnotqualifyforderecognition,theCompanydonotoffsetthetransferredfinancialassetandtheassociatedliability.
11.Inventories
TheCompanyshallcomplywiththedisclosurerequirementsfor“InternetVideoBusiness”setforthintheGuideonSelf-regulatorySupervisionforCompaniesListedontheShenzhenStockExchangeNo.4–DisclosureofIndustryInformationbytheCompaniesListedontheChiNextBoard.
1.ClassificationofinventoriesInventoriesincludefinishedgoodsormerchandiseheldbytheCompanyforsaleintheordinarycourseofbusiness,orworkinprogressintheprocessofproductionforsuchsale,ormaterialsorsuppliestobeconsumedintheproductionprocessorintherenderingofservices.
2.PricingmethodsofinventoriestransferredoutWhentransferringoutinventories,theCompanydeterminestheactualcostofautomobile,filmandtelevisiondramaandconsignmentgoodsusingthespecific-identificationmethodandoftheremaininggoodsusingtheweightedmovingaveragemethod.
3.DeterminationofnetrealizablevalueofinventoriesAtthebalancesheetdate,inventoriesaremeasuredatthelowerofcostandnetrealizablevalue,andtheprovisionfordeclineinvalueofinventoriesisdeterminedonanitem-by-itembasis.Forinventoriesavailableforsales,intheordinaryproductionandoperationprocess,theirnetrealizablevalueisdeterminedattheestimatedsellingpriceoftheseinventorieslesstheestimatedcostsnecessarytomakethesaleandrelevanttaxes;fortheinventoriesthatneedtobeprocessed,intheordinaryproductionandoperationprocess,theirnetrealizablevalueisdeterminedattheestimatedsellingpriceoffinishedproductslesstheestimatedcostsof
completionandtheestimatedcostsnecessarytomakethesaleandrelevanttaxes.Atthebalancesheetdate,whereapartofaninventoryissubjecttothecontractpriceagreementandotherpartsofthesameinventoryhasnosuchagreement,theirnetrealizablevalueisdeterminedseparately,andbycomparingthemwiththeircorrespondingcost,theamountmadefororreversaloftheprovisionfordeclineinvalueofinventoriesisdeterminedseparately.
4.InventorysystemsforinventoriesAperpetualinventorysystemisadopted,amongwhichtheCompanyusesverificationofcopyrightandotherrightdocumentsastheinventorysystemforfilmandtelevisionseries.
5.Amortizationoflow-valueconsumablesandpackingmaterials
(1)Low-valueconsumablesThepackingmaterialsareamortizedusingimmediatewrite-offmethod.
(2)PackingmaterialsThepackingmaterialsareamortizedusingimmediatewrite-offmethod.
12.ContractassetsTheCompanypresentsthecontractassetsorliabilitiesinthebalancesheetbasedontherelationshipbetweenperformanceobligationsandcustomerpayments.TheCompanyliststhenetcontractassetsandliabilitiesunderthesamecontractafteroffset.TheCompanypresentsitsownedrighttounconditionally(thatis,onlydependingonthepassageoftime)receiveconsiderationfromcustomersastheaccountsreceivable,andtherighttoreceivetheconsiderationforwhichthegoodshavebeentransferredtocustomers(thatis,dependingonfactorsotherthanthepassageoftime)asthecontractassets.
13.Contractcosts
Assetsrelatedtocontractcostsincludecontractacquisitioncostsandcontractperformancecosts.IftheincrementalcostincurredbytheCompanytoobtainacontractisexpectedtoberecovered,itisrecognizedasanassetasthecostofobtainingacontract.Iftheamortizationperiodofthecostofobtainingacontractdoesnotexceedoneyear,suchcostisdirectlyincludedintheprofitorlossforthecurrentperiod.ThecostincurredbytheCompanytoperformacontractisnotgovernedbythestandardsoninventories,fixedassetsorintangibleassets,andifmeetingthefollowingcriteria,isrecognizedasanassetasthecontractperformancecost:
1.Suchcostisdirectlyrelatedtoanexistingorexpectedcontract,includingexpensesfordirectlabor,directmaterialsandmanufacturing(orsimilarexpenses),coststobeclearlybornebythecustomerandothercostsincurredonlyduetothecontract;
2.SuchcostincreasestheCompany’sfutureresourcesforfulfillingitsperformanceobligations;and
3.Suchcostisexpectedtoberecovered.TheCompanyamortizestheassetrelatedtothecontractcostonthesamebasisastherecognitionoftherevenueofthegoodsorservicesrelatedtotheasset,andincludesitintheprofitorcostforthecurrentperiod.Ifthecarryingamountoftheassetrelatedtothecontractcostishigherthantheremainingconsiderationexpectedtobeobtainedduetothetransferofthegoodsorservicesrelatedtotheassetlesstheestimatedcost,thentheCompanymakesaprovisionforimpairmentoftheexcessandrecognizesitasanimpairmentlossfortheasset.Iftheimpairmentfactorsforpriorperiodshavechangedafterwardssothattheremainingconsiderationexpectedtobeobtainedduetothetransferofthegoodsorservicesrelatedtotheassetlesstheestimatedcostishigherthanthecarryingamountoftheasset,thentheCompanyreversestheprovisionforimpairmentoriginallymadeandincludeitintheprofitorlossforthecurrentperiod,providedthatthecarryingamountafterreversalshallnotexceedthecarryingamounttheassetwouldhavereachedonthedateofreversalhadtheprovisionforimpairmentbeennotmade.
14.Long-termequityinvestments
1.JudgmentcriteriaofjointcontrolandsignificantinfluenceJointcontrolistheagreedsharingofcontroloveranarrangement,andthedecisioninrelationtotherelevantactivitiesofsucharrangementmayonlybemadeupontheunanimousconsentofthepartiessharingcontrol.Significantinfluenceisthepoweroftheinvestingenterprisetoparticipateinthefinancialandoperatingpolicydecisionsofaninvestee,butisnotcontrolorjointcontrolwithotherpartiesovertheestablishmentofthosepolicies.
2.Determinationofinvestmentcost
(1)Incaseofanequityinvestmentacquiredthroughabusinesscombinationinvolvingenterprisesundercommoncontrol,iftheacquirerpaysconsiderationforthebusinesscombinationbycash,transferofnon-cashassets,assumptionofliabilitiesorissuanceofequitysecurities,theinitialinvestmentcostofthelong-termequityinvestmentistheCompany’sshareofthecarryingamountoftheowners’equityoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrolleratthedateofcombination.Thedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentandthecarryingamountoftheconsiderationpaidforthecombinationorthetotalparvalueofthesharesissued(asapplicable)istreatedasanadjustmenttothecapitalreserve.Incasethecapitalreserveisnotsufficienttoabsorbthedifference,theremainingbalanceisadjustedagainsttheretainedearnings.Incaseofalong-termequityinvestmentacquiredthroughabusinesscombinationinvolvingenterprisesundercommoncontrolandthroughmultipletransactionsbysteps,theCompanyjudgeswhethertheyconstitutea“packagedeal”ornot.Iftheybelongtoa“packagedeal”,theCompanyaccountsforalltransactionsasonetransactiontoacquirecontrol.Ifsuchtransactionsdonotconstitutea“packagedeal”,theinitialinvestmentcostistheCompany’spost-combinationshareofthecarryingamountofthenetassetsoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrolleratthedateofcombination.Thedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentatthedateofcombinationandthesumofthecarryingamountoflong-termequityinvestmentbeforethecombinationandthecarryingamountoftheconsiderationpaidforacquisitionoftheadditionalsharesatthedateofcombinationisadjustedagainstthecapitalreserve.Incasethecapitalreserveisnotsufficienttoabsorbthedifference,theremainingbalanceisadjustedagainsttheretainedearnings.
(2)Incaseofanequityinvestmentacquiredthroughabusinesscombinationnotinvolvingentitiesundercommoncontrol,theinitialinvestmentcostisthefairvalueoftheconsiderationpaidforthecombinationatthedateofacquisition.Withrespecttoalong-termequityinvestmentacquiredthroughabusinesscombinationnotinvolvingentitiesundercommoncontrolthatisachievedthroughmultipletransactionsbysteps,theaccountingtreatmentthereofintheseparatefinancialstatementsisdifferentfromthatintheconsolidatedfinancialstatementsasstatedbelow:
1)Intheseparatefinancialstatements,theinitialinvestmentcostforwhichtheCompanychangestothecostmethodisthesumofthecarryingamountofthelong-termequityinvestmentoriginallyheldandthenewinvestmentcost.
2)Intheconsolidatedfinancialstatements,theCompanyjudgeswhetherthetransactionsconstitutea“packagedeal”ornot.Iftheybelongtoa“packagedeal”,theCompanyaccountsforalltransactionsasonetransactiontoacquirecontrol.Ifsuchtransactionsdonotconstitutea“packagedeal”,theCompanyre-measuresthefairvalueoftheequityheldintheacquireepriortothedateofacquisition,andrecordsthedifferencebetweenthefairvalueandthecarryingamountasinvestmentincomeforthecurrentperiod;iftheequityheldintheacquireepriortothedateofacquisitioninvolvesothercomprehensiveincomeunderequitymethod,suchothercomprehensiveincomeistransferredtotheincomeoftheperiodinwhichthedateofacquisitionfalls,exceptforothercomprehensiveincomearisingfromre-measurementbytheinvesteeofchangesinnetliabilitiesornetassetsofdefinedbenefitplans.
(3)Incaseofanequityinvestmentnotacquiredthroughbusinesscombination,theinitialinvestmentcostisthepurchasepriceactuallypaidifitisacquiredbycash,orthefairvalueoftheequitysecuritiesissuedifitisacquiredthroughissuanceofequitysecurities,orisdeterminedinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.12——DebtRestructuringifitisacquiredthroughdebtrestructuring,orinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.7——ExchangeofNon-monetaryAssetsifitisacquiredthroughexchangeofnon-monetaryassets.
3.Subsequentmeasurementandrecognitionofprofitorloss
Long-termequityinvestmentsininvesteesaremeasuredusingthecostmethod.Long-termequityinvestmentsinassociatesandjointventuresaremeasuredusingtheequitymethod.
4.Disposalofinvestmentinasubsidiarythroughmultipletransactionsbystepsuntillossofcontroloverthesubsidiary
(1)SeparatefinancialstatementsThedifferencebetweenthecarryingamountoftheequitydisposedofandtheproceedsofdisposalactuallyreceivedisrecognizedinprofitorlossforthecurrentperiod.IftheremainingequityempowerstheCompanytoexercisesignificantinfluenceorjointcontrolovertheinvestees,theremainingequityisaccountedforusingtheequitymethod;iftheremainingequitydoesnotempowertheCompanytoexercisecontrol,jointcontrolorsignificantinfluenceovertheinvestees,theremainingequityisaccountedforinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.22——RecognitionandMeasurementofFinancialInstruments.
(2)Consolidatedfinancialstatements
1)Disposalofinvestmentinasubsidiarythroughmultipletransactionsbystepsuntillossofcontroloverthesubsidiarywhichdonotconstitutea“packagedeal”Priortothelossofcontrol,thedifferencebetweentheproceedsfromdisposalandtheshareownedbytheCompanyinthenetassetsofthesubsidiaryinrelationtothelong-termequityinvestmentdisposedofthatiscalculatedcontinuouslyfromthedateofacquisitionorcombinationisadjustedagainstthecapitalreserve(capitalpremium).Incasethecapitalpremiumisnotsufficienttoabsorbthedifference,theremainingbalanceisadjustedagainsttheretainedearnings.Whenlosingcontroloveranoriginalsubsidiary,theremainingequityisre-measuredatitsfairvalueatthedateoflossofcontrol.Thesumoftheconsiderationreceivedfromthedisposaloftheequityandthefairvalueoftheremainingequity,netoftheshareownedbytheCompanyinthenetassetsofthesubsidiaryascalculatedcontinuouslyfromthedateofacquisitionorcombinationaccordingtothepreviousshareholdingratio,isrecognizedintheinvestmentincomefortheperiodinwhichthecontrolislost,andthegoodwillisreducedaccordingly.Othercomprehensiveincomerelatingtotheequityinvestmentintheoriginalsubsidiaryshouldbetransferredtotheinvestmentincomefortheperiodinwhichthecontrolislost.
2)Disposalofinvestmentinasubsidiarythroughmultipletransactionsbystepsuntillossofcontroloverthesubsidiarywhichconstitutea“packagedeal”TheCompanyaccountsforsuchtransactionsasonetransactiontodisposeofandloseitscontroloverthesubsidiary,however,thedifferencebetweentheproceedsfromeachdisposalbeforelossofcontrolandtheshareownedbytheCompanyinthenetassetsofthesubsidiaryinrelationtotheinvestmentdisposedofisrecognizedinothercomprehensiveincomeintheconsolidatedfinancialstatements,whichiswhollytransferredtotheprofitorlossintheperiodinwhichthecontrolislost.TheCompanyaccountsforsuchtransactionsasonetransactiontodisposeofandloseitscontroloverthesubsidiary,however,thedifferencebetweentheproceedsfromeachdisposalbeforelossofcontrolandtheshareownedbytheCompanyinthenetassetsofthesubsidiaryinrelationtotheinvestmentdisposedofisrecognizedinothercomprehensiveincomeintheconsolidatedfinancialstatements,whichiswhollytransferredtotheprofitorlossintheperiodinwhichthecontrolislost.
15.Fixedassets
(1)CriteriaforrecognitionFixedassetsaretangibleassetsheldforproductionofgoods,renderingofservices,leaseoroperationandmanagementwithausefullifeofmorethanoneaccountingyear.AfixedassetisrecognizediftheeconomicbenefitsrelatingtoitareverylikelytoflowtotheCompanyanditscostcanbereliablymeasured.
(2)Depreciation
| Category | Methodofdepreciation | Estimatedusefullife(years) | Estimatedusefullife(years) | Residualvaluerate |
| Buildings | Straightlinemethod | 30 | 4 | 3.2 |
| Machinesandequipment | Straightlinemethod | 3-8 | 0-5 | 11.88-33.33 |
| Transportationequipment | Straightlinemethod | 5-8 | 0-5 | 11.88-20 |
| Electronicequipment,devicesandfurniture | Straightlinemethod | 3-10 | 0-5 | 9.50-33.33 |
Withrespecttoartworkswhoseestimatedusefullifeisuncertain,theCompanydoesnotassesstheirdepreciationbutperformsanimpairmenttestonthemeveryyear.
(3)Recognition,valuationanddepreciationoffixedassetsleasedinunderfinanceleases
16.Constructioninprogress
1.AconstructioninprogressisrecognizediftheeconomicbenefitsrelatingtoitareverylikelytoflowtotheCompanyanditscostcanbereliablymeasured.Aconstructioninprogressismeasuredattheactualcostincurredforbringingtheassettoworkingconditionforitsintendeduse.
2.Theconstructioninprogressshallbetransferredtofixedassetsatitsactualconstructioncostwhenmeetingworkingconditionsforitsintendeduse.Ifaprojectunderconstructionhasnotundergonefinalaccountsforcompletionwhentheprojectmeetstheworkingconditionforitsintendeduse,theprojectistransferredtofixedassetsattheestimatedvalue,andafterfinalaccountsforcompletionarehandled,theoriginalvalueprovisionallyestimatedisadjustedattheactualcost,butnoadjustmentismadetooriginallyprovideddepreciation.
17.Borrowingcosts
1.RecognitionofcapitalizationofborrowingcostsBorrowingcostsincurredbytheCompanythataredirectlyattributabletotheacquisition,constructionorproductionofaqualifyingassetarecapitalizedaspartofthecostoftherelevantasset.Theamountsofotherborrowingcostsincurredareexpensedwhenincurredandincludedinprofitorlossforthecurrentperiod.
2.Periodofcapitalizationofborrowingcosts
(1)Aborrowingcostiscapitalizedwhenallofthefollowingconditionsaresatisfied:1)theexpendituresontheassethavealreadybeenincurred;2)theborrowingcosthasalreadybeenincurred;and3)theacquisition,constructionorproductionactivitiesnecessarytopreparetheassetforitsintendeduseorsalehavealreadycommenced.
(2)Capitalizationofborrowingcostsissuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetisinterruptedabnormally,whentheinterruptionisforacontinuousperiodofmorethan3months.Theborrowingcostsincurredduringtheseperiodsarerecognizedasanexpenseforthecurrentperioduntiltheacquisition,constructionorproductionactivityisresumed.
(3)Whenthequalifyingassetbeingacquired,constructedorproducedhasbecomereadyforitsintendeduseorsale,thecapitalizationceases.
3.Rateandamountofcapitalizationofborrowingcosts
Iffundsareborrowedunderaspecific-purposeborrowingfortheacquisition,constructionorproductionofaqualifyingasset,theamountofinteresttobecapitalizedshallbetheactualinterestexpenseincurredonthatborrowingfortheperiod(includingamortizeddiscountorpremiumdeterminedusingtheeffectiveinterestmethod)lessanybankinterestearnedfromdepositingtheborrowedfundsbeforebeingusedontheassetoranyinvestmentincomeonthetemporaryinvestmentofthosefunds.Iffundsareborrowedundergeneral-purposeborrowingsandareutilizedfortheacquisition,constructionorproductionofaqualifyingasset,theCompanyshalldeterminetheamountofinteresttobecapitalizedonsuchborrowingsbymultiplyingacapitalizationrateoftheutilizedgeneral-purposeborrowingsbytheweightedaverageoftheexcessamountsofcumulativeexpendituresontheassetoverandabovetheamountsofspecific-purposeborrowings.
18.Rightofuseassets
ArightofuseassetistherightoftheCompanyasthelesseetousetheleasedassetwithintheleaseterm.TheCompanyrecognizestherightofuseassetforleasesatthecommencementdateoftheleaseterm.ArightofuseassetisrecognizediftheeconomicbenefitsrelatingtoitareverylikelytoflowtotheCompanyanditscostcanbereliablymeasured.Therightofuseassetisinitiallymeasuredatcost,whichincludes:1)theinitiallymeasuredamountoftheleaseliability;2)theleasepaymentsmadeonorbeforethecommencementdateoftheleasetermlesstheamountrelatedtoleaseincentives(ifany);3)theinitialdirectcostsincurredbythelessee;4)thecoststhatthelesseeexpectstoincurinordertodismantleandremovetheleasedasset,restorethesitewheretheleasedassetlocates,orrestoretheleasedassettotheconditionagreeduponintheleaseterms.TheCompanydepreciatestherightofuseassetonastraight-linebasis.Ifitreasonablyensuresthatownershipoftheleasedassetswillbeobtainedattheexpiryoftheleaseterm,theCompanywilldepreciatetheleasedassetsovertheirremainingusefullives.Ifnot,theCompanywilldepreciatetheleasedassetovertheshorteroftheleasetermortheremainingusefullifeoftheleasedasset.
19.Intangibleassets
(1)Pricingmethods,usefullivesandimpairmenttestsTheCompanyshallcomplywiththedisclosurerequirementsfor“InternetVideoBusiness”setforthintheGuideonSelf-regulatorySupervisionforCompaniesListedontheShenzhenStockExchangeNo.4–DisclosureofIndustryInformationbytheCompaniesListedontheChiNextBoard.
1.Intangibleassetsincludefilmandtelevisioncopyrights,landuserights,software,trademarkrightsandcopyrights,whichareinitiallymeasuredatcost.
2.Servicelifeandamortizationmethod
(1)AmortizationandcarryforwardsoffilmandtelevisioncopyrightsWhenafilmandtelevisioncopyrightisrecognizedasanintangibleasset,thatcopyrightisamortizedinthelightofthefollowingprinciplesduringthecopyrightbenefitperiod:incaseofthepermanentcopyrightwiththebenefitperiodbeingdeterminedtobe5yearsandthefilmandtelevisionseriescopyrightwiththebenefitperiodbeingdeterminedtobenotlessthan3years(inclusive),theyareamortizedona5:3:2basis(thatis,50%oftheintangibleassetvalueisamortizedevenlyinthefirst12months,30%inthesecond12monthsandtheremaining20%isamortizedonastraight-linebasisduringtheremainingbenefitperiod);incaseofthecopyrightswiththebenefitperiodofmorethan2years(inclusive)butlessthan3years,theyareamortizedona5:5basis(thatis,50%isamortizedinthefirst12monthsandtheremaining50%isamortizedinastraightlineduringtheremainingbenefitperiod);andincaseofthecopyrightswiththebenefitperiodofnotmorethan2years,theyareamortizedonastraight-linebasisduringthebenefitperiod.Whenthefilmandtelevisioncopyrightisusedfordistribution,therighttouseandincomeright,etc.sharedjointlyorenjoyedrespectivelybytheCompanyanditscounterpartyafterdistributionshouldbetransferredasthebookcostoftheintangibleassetsat
theloweroftheincomeamountandtheamortizedbookvalueofintangibleassetsfromthedateonwhichtheysatisfytherecognitioncriteriaofrevenue.Iftheamortizedvalueaftertransferisstillgreaterthanzero,theycontinuetobeamortizedusingtheoriginalamortizationmethodduringtheremainingamortizationperiod.
(2)Amortizationofotherintangibleassetsotherthanfilmandtelevisioncopyright.Thedepreciableamountofanintangibleassetwithafiniteusefullifeisallocatedonasystematicandrationalbasisoveritsusefullifeinthepatterninwhichtheasset’seconomicbenefitsareexpectedtoberealized.Ifthatpatterncannotbedeterminedreliably,thestraightlinemethodshallbeused.Thespecificlifeisshownasfollows:
| Item | Amortizationperiod(years) |
| Landuserights | 49 |
| Software | 3-10 |
| Trademarksanddomainnames | Trademarksanddomainnames |
| Authorizeduseperiod | 10 |
| Patentlicensefee | 3 |
| Gamecopyright | Periodgrantedbythecontract |
(2)Accountingpolicyonin-houseresearchanddevelopmentexpenditures
TheCompanyengagesintheresearchanddevelopmentofsystemsoftware.Expendituresonresearchanddevelopmentprojectsareclassifiedintoexpendituresatresearchphaseandexpendituresatdevelopmentphaseaccordingtothenatureofexpendituresanddependingonwhetheritissignificantlyuncertainthattheresearchanddevelopmentactivitieswillresultinintangibleassets.Expendituresatresearchphaseareexpendituresatthephaseofplannedinvestigation,evaluationandselectionforpurposeofsoftwareresearch,whicharerecognizedinprofitorlossfortheperiodinwhichtheyareincurred.Expendituresatthephaseofdesignandtestingforpurposeoffinalapplicationofthesoftwarearerecordedasexpendituresatdevelopmentphase,whicharecapitalizedpriortothefinalapplicationofthesoftwarewhenallofthefollowingconditionsaresatisfied:(1)thedevelopmentofthesoftwarehasbeensufficientlyvalidatedbythetechnicalteam;(2)themanagementhasapprovedthebudgetforthedevelopmentofthesoftware;(3)thesystemfunctionsandperformanceofthesoftwaretobedevelopedcansatisfytherequirementsofeconomicactivities;(4)thetechnicalandfinancialresourcesavailablearesufficienttomeettherequirementsofthedevelopmentactivitiesandsubsequentuseofthesoftware;and(5)theexpendituresattributabletothedevelopmentofthesoftwarecanbereliablymeasured.
20.Impairmentoflong-termassets
Withrespecttolong-termequityinvestments,fixedassets,constructioninprogress,intangibleassetswithafiniteusefullife,rightofuseassetsandotherlong-termassets,ifthere’sanindicationofimpairmentatthebalancesheetdate,theCompanyassessestheirrecoverableamount.Goodwillarisingfromabusinesscombinationandanintangibleassetwithanindefiniteusefullifearetestedforimpairmentannually,irrespectiveofwhetherthereisanyindicationthattheassetmaybeimpaired.Forthepurposeofimpairmenttesting,goodwillisconsideredtogetherwiththerelatedassetgroupsorsetsofassetgroups.Iftherecoverableamountofthelong-termassetaboveislowerthanitscarryingamount,thedifferenceismeasuredasimpairmentlossoftheassetandrecognizedinprofitorlossforthecurrentperiod.
21.Long-termprepaidexpenses
Long-termprepaidexpensesareexpensesthathavealreadybeenincurredbutshouldbeamortizedoveraperiodofmorethanoneyear(exclusive).Long-termprepaidexpensesarestatedasincurredandareamortizedevenlybystageswithinthebenefitperiodorspecifiedperiod.Ifanitemoflong-termprepaidexpenseswillnotbenefitthesubsequentperiods,theamortizedvalueoftheitem
thathasnotyetbeenamortizediswhollytransferredtoprofitorlossforthecurrentperiod.
22.ContractliabilitiesTheCompanypresentsthecontractassetsorliabilitiesinthebalancesheetbasedontherelationshipbetweenperformanceobligationsandcustomerpayments.TheCompanyliststhenetcontractassetsandliabilitiesunderthesamecontractafteroffset.TheCompanypresentsitsobligationtotransfergoodstocustomersfortheconsiderationreceivedorreceivablefromcustomersasthecontractliabilities.
23.Employeebenefits
(1)Accountingtreatmentofshort-termemployeebenefitsTheCompanyrecognizestheshort-termbenefitsactuallyincurredduringtheaccountingperiodwhentheemployeesprovideservicesfortheCompanyasliabilities,andincludethesameinprofitorlossforthecurrentperiodoraspartofthecostofrelatedassets.
(2)Accountingtreatmentofpost-employmentbenefitsPost-employmentbenefitsareclassifiedintodefinedcontributionplansanddefinedbenefitplans.
(1)TheCompanyrecognizestheamountcontributablecalculatedbasedonthedefinedcontributionplanduringtheaccountingperiodwhentheemployeesprovideservicesfortheCompanyasliabilities,andincludethesameinprofitorlossforthecurrentperiodoraspartofthecostofrelatedassets.
(2)Theaccountingtreatmentofadefinedbenefitplangenerallyinvolvesthefollowingsteps:
1)Accordingtotheprojectedunitcreditmethod,usetheunbiasedandconsistentactuarialassumptionstoestimatedemographicvariablesandfinancialvariables,measuretheobligationarisingfromthedefinedbenefitplananddeterminetheperiodtowhichtherelevantobligationbelongs.Meanwhile,discounttheobligationarisingfromthedefinedbenefitplan,inordertodeterminethepresentvalueofthebenefitplanobligationandthecurrentservicecost;
2)Ifthedefinedbenefitplanhasassets,thedeficitorsurplusresultingafterreducingthepresentvalueofthedefinedbenefitplanobligationbythefairvalueoftheassetsisrecognizedasanetliabilityorassetofthedefinedbenefitplan.Ifthedefinedbenefitplanhasasurplus,thenetassetsofthedefinedbenefitplanaremeasuredatthelowerofsurplusinthedefinedbenefitplanandassetceiling;
3)Attheendofthereportingperiod,thecostofemployeebenefitsarisingfromthedefinedbenefitplanisrecordedasservicecost,netinterestonthenetliabilitiesornetassetsofthedefinedbenefitplan,andchangesarisingfromre-measurementofthenetliabilitiesornetassetsofthedefinedbenefitplan,whereintheservicecostandthenetinterestonthenetliabilitiesornetassetsofthedefinedbenefitplanareincludedinprofitorlossforthecurrentperiodorthecostofrelatedassets,andthechangesarisingfromre-measurementofthenetliabilitiesornetassetsofthedefinedbenefitplanareincludedinothercomprehensiveincome,whichwillnotbeconvertedbacktoprofitorlossinsubsequentperiods,butthoserecognizedasothercomprehensiveincomemaybetransferredwithinthescopeofequity.
(3)Accountingtreatmentofterminationbenefits
TheCompanyrecognizestheemploymentcompensationliabilitiesgeneratedbyterminationbenefitsandrecordsthemintotheprofitorlossforthecurrentperiodattheearlierofthefollowingdates:
(1)whentheCompanycannotunilaterallywithdrawtheterminationbenefitsprovidedasaresultofthelaborrelationshipterminationplanorlayoffproposal;or
(2)whentheCompanyrecognizesthecostsorexpensesrelatedtotherestructuringoftheterminationbenefitspayment.
(4)Accountingtreatmentofotherlong-termemployeebenefitsOtherlong-termemployeebenefitsareaccountedforinaccordancewiththeprovisionsapplicabletodefinedcontributionplansiftheyarequalifiedasdefinedcontributionplans,otherwise,areaccountedforinaccordancewiththeprovisionsapplicabletodefinedbenefitplans.Inordertosimplifytheaccountingtreatment,thetotalnetamountofthecostofemployeebenefitsarisingfromthedefinedbenefitplansthatisrecordedasservicecost,netinterestonthenetliabilitiesornetassetsofthedefinedbenefitplan,changesarisingfromre-measurementofthenetliabilitiesornetassetsofthedefinedbenefitplanandothercomponentsisincludedinprofitorlossforthecurrentperiodorthecostofrelatedassets.
24.Leaseliabilities
Atthecommencedateoftheleaseterm,theCompanyrecognizesthepresentvalueoftheoutstandingleasepaymentsasaleaseliability.Whencalculatingthepresentvalueofleasepayments,theinterestrateintheleaseisdeterminedasthediscountrate.Iftheinterestrateintheleaseisunavailable,theCompany’sincrementalborrowingrateisdeterminedasthediscountrate.Thedifferencebetweentheleasepaymentsandtheirpresentvalueisrecognizedasanunrecognizedfinancingexpense,withinterestexpensesrecognizedatthediscountrateusedtorecognizethepresentvalueoftheleasepaymentsandchargedtoprofitorlossforthecurrentperiodoverthetermoftherelevantlease.Thevariableleasepaymentsnotmeasuredastheleaseliabilityarerecognizedinprofitorlosswhentheyareactuallyincurred.
Afterthecommencementdateoftheleaseterm,whenthereisachangeinthesubstantivefixedpayments,theexpectedamountofpayablefortheguaranteedresidualvalue,theindexorrateusedtodeterminetheleasepayments,ortheevaluationresultoractualexerciseofthepurchaseoption,renewaloptionorterminationoption,theCompanywillremeasuretheleaseliabilityatthepresentvalueofthechangedleasepaymentsandadjuststhecarryingamountoftherightofuseassetaccordingly.Ifthecarryingamountoftherightofuseassethasbeenreducedtonilbuttheleaseliabilitystillneedstobefurtherreduced,theremainingamountwillberecognizedinprofitorlossforthecurrentperiod.
25.Provisions
1.Anobligationarisingfromanyexternalguarantee,litigation,productqualitywarranty,onerouscontractorothercontingenciesisrecognizedasaprovisionifitisapresentobligationassumedbytheCompany,anditisprobablethatanoutflowofresourcesembodyingeconomicbenefitswillberequiredtosettletheobligation,andtheamountoftheobligationcanbereliablymeasured.
2.Provisionsareinitiallymeasuredaccordingtothebestestimatesoftheexpendituresrequiredtosettletherelatedpresentobligations.Thecarryingamountofprovisionsisreviewedatthebalancesheetdate.
26.Revenue
Theaccountingpoliciesadoptedfortherecognitionandmeasurementofrevenue
1.RevenuerecognitionAttheinceptionofthecontract,theCompanyevaluatesthecontract,identifieseachsingleperformanceobligationcontainedthereinanddeterminewhethereachsingleperformanceobligationisperformedovertimeoratapointintime.Whenmeetingoneofthefollowingcriteria,itbelongstotheobligationperformedovertime,otherwiseitconstitutestheobligationperformedatapointintime:(1)thecustomerobtainsandconsumestheeconomicbenefitsgeneratedbytheCompany’sperformancewhentheCompanyperformsthecontract;(2)thecustomercancontroltheproductsunderconstructionintheprocessoftheCompany’sperformance;(3)theproductsproducedintheprocessoftheCompany’sperformancehaveirreplaceableuses,andthe
Companyhastherighttocollectpaymentforthecumulativeperformancethathasbeencompleteduptodatethroughoutthetermofthecontract.Fortheobligationperformedovertime,theCompanyrecognizestherevenuebasedontheperformanceprogressovertime.Whentheperformanceprogresscannotbereasonablydetermined,andthecostsincurredareexpectedtoberecoverable,revenueisrecognizedtotheextentofcostsincurreduntiltheperformanceprogresscanbereasonablydetermined.Fortheobligationperformedatapointintime,therevenueisrecognizedatthetimepointwhenthecustomerobtainsthecontroloftherelatedgoodsorservices.Whenjudgingwhetherthecustomerhasobtainedthecontrolofgoods,theCompanyconsidersthefollowingssigns:(1)theCompanyhasthecurrentrighttoreceivepaymentforsuchgoods,thatis,thecustomerhasthecurrentobligationtomakepaymentforsuchgoods;
(2)theCompanyhastransferredthelegalownershipofsuchgoodstothecustomer,thatis,thecustomerhasthelegalownershipofsuchgoods;(3)theCompanyhastransferredsuchgoodstothecustomerphysically,thatis,thecustomerhastakenpossessionofsuchgoodsphysically;(4)theCompanyhastransferredmajorrisksandrewardsofsuchgoodstothecustomer,thatis,thecustomerhasobtainedmajorrisksandrewardsofsuchgoods;(5)thecustomerhasacceptedsuchgoods;and(6)othersignsthatthecustomerhasobtainedcontrolofsuchgoods.
2.Revenuemeasurement
(1)TheCompanymeasuresrevenuebasedonthetransactionpriceallocatedtoeachsingleperformanceobligation.ThetransactionpriceistheamountofconsiderationtowhichtheCompanyisentitledarisingfromthetransferofgoodsorservicestothecustomer,excludingtheamountcollectedonbehalfofathirdpartyandexpectedtobereturnedtothecustomer.
(2)Ifthereisvariableconsiderationinthecontract,theCompanydeterminesthebestestimateofthevariableconsiderationbasedontheexpectedvalueorthemostlikelyamount.However,variableconsiderationisincludedinthetransactionpriceif,andtotheextentthat,itishighlyprobablethatitsinclusionwillnotresultinasignificantrevenuereversalofaccumulativelyrecognizedrevenueinthefuturewhentheuncertaintyhasbeensubsequentlyresolved.
(3)Ifthereisamajorfinancingcomponentinthecontract,theCompanydeterminesthetransactionpricebasedonthepresumedamountpayableincashwhenthecustomerobtainsthecontrolofgoodsorservices.Thedifferencebetweenthattransactionpriceandthecontractconsiderationisamortizedovertheperiodofthecontractusingtheeffectiveinterestmethod.Ifattheinceptionofthecontract,theCompanyexpectsthatthecustomer’sacquisitionofcontrolofgoodsorservicesisnotmorethanoneyearfromthecustomer’spaymenttherefor,themajorfinancingcomponentinthecontractwillnotbeconsidered.
(4)Ifthecontracthastwoormultipleperformanceobligations,theCompanyallocatesthetransactionpricetoeachsingleperformanceobligationinthecontractbyreferencetorelativestandalonesellingpricesofgoodspromisedthereby.
3.Specificmethodsforrevenuerecognition
(1)RevenuerecognizedatapointintimeTheCompany’ssalesofTVshoppingproducts,filmandtelevisionseriesandothergoodsbelongtotheobligationperformedatapointintime.Therevenueisrecognizedwhengoodsmadefordomesticmarketmeetthefollowingcriteria:theCompanyhasdeliveredtheproductstothecustomerpursuanttothecontractandthecustomerhasacceptedsuchproducts,thepaymentforproductshasbeenreceivedorthereceiptofpaymenthasbeenobtainedanditisprobablethattheassociatedeconomicbenefitswillflowtotheCompany,thelegalownershipoftheproductshasbeentransferred,andthemajorrisksandrewardsoftheproductshavebeentransferredtothecustomer.Therevenueisrecognizedwhengoodsmadeforforeignmarketmeetthefollowingcriteria:theCompanyhasdeclaredtheproductspursuanttothecontractandobtainedthebilloflading,thepaymentforproductshasbeenreceivedorthereceiptofpaymenthasbeenobtainedanditisprobablethattheassociatedeconomicbenefitswillflowtotheCompany,thelegalownershipoftheproductshasbeentransferred,andthemajorrisksandrewardsoftheproductshavebeentransferred.
(2)RevenuerecognizedaccordingtotheprogressofcontractperformanceTheCompanyprovidesmembership,artiste,operatorandfinancialservices,etc.AsthecustomerobtainsandconsumestheeconomicbenefitsgeneratedbytheCompany’sperformancewhentheCompanyperformsthecontract,thecustomercancontrolthegoodsorservicesunderconstructionintheprocessoftheCompany’sperformance,theservicesorgoodsprovidedintheprocessof
theCompany’sperformancehaveirreplaceableuses,andtheCompanyhastherighttocollectpaymentforthecumulativeperformancethathasbeencompleteduptodatethroughoutthetermofthecontract,theCompanyregardsitasaperformanceobligationovertimeandrecognizesrevenueaccordingtotheperformanceprogress,unlesstheperformanceprogresscannotbereasonablydetermined.TheCompanydeterminestheprogressofperformanceobligationusingtheoutputmethod/inputmethod.Whentheperformanceprogresscannotbereasonablydetermined,andthecostsincurredbytheCompanyareexpectedtoberecoverable,revenueisrecognizedtotheextentofcostsincurreduntiltheperformanceprogresscanbereasonablydetermined.TheCompany’sspecificprinciplesfortherecognitionandmeasurementofrevenuesearnedinthefollowingsectorsandlinesofbusinessareasfollows:
(1)RevenuefromsaleofgoodsthroughTVchannels,networkchannels,outboundchannels,onlinetoofflinechannelsandotherchannelsThegoodssoldbytheCompanyaremainlydeliveredbylogisticscompaniestothebuyersorpickedbythebuyersthemselves.TheCompanyrecognizestherevenuefromsaleofgoodswhenthegoodshavebeendeliveredbylogisticscompaniestothebuyersandsignedforbythebuyersandtheperiodforreturnofgoodshasexpired.Ifthecustomerisagroup,salesrevenueisrecognizedwhenthegrouphasreceivedthegoodsandsignedthereceiptofthegoods.Ifcreditsareofferedtothecustomersuponsaleofgoods,theCompanyallocatestheamountreceivedorreceivablefromthesaleofgoodsbetweentherevenuefromthesaleofgoodsandthevalueofthecredits,andrecognizestheamountreceivedorreceivablefromthesaleofgoodsnetofthevalueofthecreditsasrevenue,andthevalueofthecreditsascurrentliabilities.Whenthecreditsareexchangedbythecustomers,theportionofcurrentliabilitiesoriginallyrecognizedinconnectionwiththecreditsexchangedisrecognizedasrevenue,wherein,theamountofrevenuerecognizedisdeterminedaccordingtotheproportionoftheamountofthecreditsexchangedtothetotalestimatedamountofthecreditsexchangeable.
(2)RevenuefromadvertisingserviceRevenuefromadvertisingserviceisrecognizedaftertheadvertisementshavebeendeliveredoraccordingtothesettlementamountduringtheprocessofservicewhenallofthefollowingconditionsaresatisfied:(i)theamountofrevenuecanbemeasuredreliably;(ii)itisprobablethattheeconomicbenefitsassociatedtherewithwillflowtotheCompany;and(iii)thecostsincurredortobeincurredforthedeliveryofadvertisementscanbemeasuredreliably.
(3)RevenuefrommemberserviceServicerevenueisrecognizedduringthevalidperiodofmembershiponadailybasisaccordingtothetop-upamountpaidbythemembers.
(4)RoyaltyrevenueRoyaltyrevenueincludescopyrightlicensingrevenueandrevenuefromjointcopyrightinvestment.
1)Copyrightlicensingrevenueisrecognizedwhenthelicensehasbeengrantedtothecounterpartyandthelicensefeehasbeenreceivedortherighttoreceivethelicensefeehasbeenobtainedundertherelevantcopyrightlicensecontract.
2)Revenuefromjointcopyrightinvestment①InvestmentinfilmandtelevisionseriesandotherprogramsinwhichtheCompanydoesnotholdcopyrightApplicablebusiness:TheCompanyparticipatesintheproductionoffilmandtelevisionseriesinthecapacityofaco-investorundertherelevantinvestmentagreementwhichexplicitlyprovidesthatthereturnoninvestmentreceivablebytheCompanyshallbeafixedincomeorariskinvestmentincomewhereintheCompanydoesnotholdcopyrightasotherinvestors.Incomefromsuchbusinessesisrecognizedasinvestmentincome.②InvestmentinfilmandtelevisionseriesandotherprogramsinwhichtheCompanyholdsjointcopyrightApplicablebusiness:TheCompanyparticipatesintheproductionoffilmandtelevisionseriesinthecapacityofaco-investorundertherelevantinvestmentagreementwhichexplicitlyprovidesthattheCompanyshallparticipateintheincomedistributionorlosssharingoftheprojectinthecapacityofaco-investorandholdscopyrightthereinjointlywithotherinvestorsinsuchproportionasagreed.Revenuefromreleaseoftelevisionseriesisrecognizedwhentheproductionofthetelevisionserieshasbeencompleted,thefilmandtelevisionseriesauthorityhasexaminedthetelevisionseriesandissuedaTelevisionSeriesReleaseLicense,thecopies,
tapesandothermediaofthetelevisionserieshavebeendeliveredtothebuyersanditisprobablethattheeconomicbenefitsassociatedtherewithwillflowtotheCompany.Revenuefromreleaseoffilmsisrecognizedwhentheproductionofthefilmshasbeencompleted,thefilmandtelevisionseriesauthorityhasexaminedthefilmsandissuedaFilmReleaseLicense,thefilmhasbeenscreenedintheatersandthesettlementstatementhasbeenreceivedfromtherelevanttheaterchains.Revenuefromreleaseofprogramsisrecognizedwhentheproductionoftheprogramshasbeencompleted,thecopies,tapesandothermediaoftheprogramhavebeendeliveredtothebuyersanditisprobablethattheeconomicbenefitsassociatedtherewithwillflowtotheCompany.Suchrevenueisrecognizedintwodifferentways:
IftheCompanyisresponsibleforrelease,whenthecriteriaforrecognitionofrevenueismet,theCompanyrecognizesthedistributionincomeasagreedasoperatingrevenueandrecordstheshareofincomepayabletotheproductionpartnersasdeductionsfromrevenue.Ifanotherpartyisresponsibleforrelease,whentheCompanyreceivestheincomesettlementstatementasagreed,theCompanyrecognizestheincomereceivableas“operatingincome”.
3)SpecificmethodsforcostrecognitionIftheCompanyisresponsiblefortheproductionofandaccountingforfilmortelevisionseries,thecostactuallyincurredisrecordedas“inventories-productioncost”.Whentheproductionfeeadvancedbytheinvestorsunderthecontractisreceived,suchamountisinitiallyrecordedas“contractliabilities”,andwhentheproductionhasbeencompletedandthefilmortelevisionseriesisreadyforrelease,suchamountisoffsetagainsttheinventorycostoffilmortelevisionseries.Ifanotherpartyisresponsiblefortheproductionofandaccountingforthefilmortelevisionseries,theproductionfeepaidbytheCompanytotheproductionpartnerunderthecontractisinitiallyrecordedas“prepayments”,thetravelexpensesincurredbytheCompanydirectlyinconnectionwiththeprojectisrecordedas“inventories-productioncost”,andwhentheproductionhasbeencompletedandthefilmortelevisionseriesisreadyforrelease,suchamountistransferredtoinventorycost.Afterreceivingthecostorexpensesettlementvouchersorstatementsissuedbytheproducerandauditedorconfirmedbytheco-investors,theassetsoriginallyrecordedareadjustedaccordingtotheactualsettlementamount,bytransferringtheCompany’sshareofthecostofthefilmortelevisionseriesinvestmentprojectfrom“prepayments”to“inventories-productioncost”.Afterobtainingcopyrightinthefilmortelevisionseriesunderthecontract,theactualcostofthefilmortelevisionseriesiswhollytransferredto“inventories-goodsonhand”,andtherevenueearnedisoffsetagainstthecostusingthepercentageofcompletionmethod.Underthepercentageofcompletionmethod,fromthedatethefilmorTVplayisgrantedareleasepermit(i.e.thedateofsatisfactionofthecriteriaforrecognitionofrevenue),duringtheperiodofcosttransfer,theCompanyusesthecosttransferrate(theproportionoftotalcostofthefilmorTVplaytothetotalplannedrevenue)tocalculateanddeterminethecostofsalestobetransferredinthecurrentperiodandtheinventoriestoberecognizedattheendoftheperiod.
(5)RevenuefromoperatorserviceRevenuefromoperatorserviceisrecognizedaccordingtotherelevantbusinesssettlementstatementsorthird-partyortechnicalbackgroundbusinessdataprovidedaccordingtotherelevantcooperationagreement.TheCompanyrecognizestherevenueaccordingtothesettlementdataprovidedbytheoperatorandconfirmedbytheCompanyandtheoperatorpriortothebalancesheetdate,orifthesettlementdataisnotobtainedfromtheoperatorpriortothebalancesheetdate,accordingtothedatacollectedbythebillingplatformandotherdataandinformationavailabletotheextentthattherevenuecanbemeasuredreliably,andadjuststhesameuponactualsettlement.
(6)RevenuefromsaleofhardwareRevenuefromsaleofhardwareisrecognizedonamonthlybasisaccordingtothequantityofintelligentterminalproductsactuallysoldinthegivenmonthandtheirsellingprices.
(7)Recognitionofrevenuefromartisteagentservice
1)ArtisteperformanceserviceTheserviceperiodisrelativelyshort.Inthisservice,theCompanymainlyhelpstheartistesgivecommercialperformanceorconcerts,andrecognizestherevenueafteracontractedartistehasfulfilledhisorhercontractualobligations.
2)Artisteshootingservice
ShootingserviceincludesparticipationbytheartistesintheshootingoffilmsandTVplaysandrecordingofprograms.Theserviceperiodisaboutthreemonthsgenerally.TheCompanyrecognizestherevenueafteracontractedartistehasfulfilledhisorhercontractualobligations.
3)ArtisteendorsementserviceThetermofanartiste’sendorsementisabout1-2yearsgenerally.Duringthetermofendorsement,theartisteneedstobefeaturedinvideocommercials,recordthemesongs,andparticipateinpublicrelationsandotheractivities.Therevenueisrecognizedaccordingtothespecificcontractterms.Ifthecontractprovidesthataftertheperformanceoftheobligationsbytheartiste,andtheservicefeealreadyreceivedbytheCompanywillnotberefundedexceptforforcemajeure,theservicefeemaybewhollyrecognizedasrevenue.Ifthecontractprovidesthat,inadditiontoindicatingtheforcemajeure,theartisteneedstogiveexclusiveendorsementormaintainhisorhergoodimage,therevenueisrecognizedininstallmentsduringthetermofendorsement.
(8)Derivativerevenuefromfilms,TVplaysandprogramsDerivativerevenuefromfilms,TVplaysandprogramsisrecognizedaftertheshowingthereof,atsuchtimeasprovidedintherelevantcontract.
(9)RevenuefromgamesTheCompany’srevenuefromgamesmainlyincludesrevenuefromgamecopyright,gamedistributionserviceandself-developedgames,whicharerecognizedasfollows:
1)Revenuefromgamecopyrightincludesroyaltyrevenueandminimumguaranteerevenue.TheroyaltiesreceivedbytheCompanyarerecordedascontractliabilitiesuponreceipt,andincludedintheoperatingrevenueforthecurrentperiodusingthestraightlinemethodduringthetermofagreement.Theminimumguaranteesreceivedarerecognizedasrevenuewhenalltherisksandrewardshavebeentransferredinaccordancewiththescheduleofpaymentanddivisionofrevenuesasprovidedintherelevantcontractoragreement.
2)GamedistributionserviceisamodeofoperationinwhichtheCompanyobtainsalicensetooperateanonlinegameandthenentersintocooperationwithMangoTV,360GameCenterorotherthird-partychannelplatformstojointlyoperatethegame;theplayersofthegameneedtoberegisteredasusersofthethird-partychannel,topuptheiraccountsinthetop-upsystemofthethird-partyplatformtoobtainvirtualcash,andusesuchvirtualcashtopurchasevirtualprops.Inthemodeofjointoperationbyathirdparty,eachthird-partyplatformisresponsiblefortheoperation,promotion,chargingserviceandmanagementofbillingsystemofitschannel,andtheCompanyrecognizesitsshareofrevenueastheoperatingrevenueascalculatedaccordingtothecooperationagreementconcludedwiththethird-partyplatformandconfirmedbytheCompanyandthethird-partyplatform.
3)Self-developedgamesincludeonlinegamesandstandalonegames.Inthemodeofself-operationofanonlinegame,theCompanydistributesandoperatesthegamethroughitsownorthird-partychannels,andissolelyresponsiblefortheoperation,promotionandmaintenanceofthegame;theplayersofthegamearedirectlyregisteredwithsuchchannelsandthenlogintothegame,topuptheiraccountstoobtainvirtualcash,andusesuchvirtualcashtopurchasevirtualprops;afterthegamepropspurchasedbytheplayershavebeenusedup,theCompanyrecognizestheamountactuallypaidandconsumedbytheplayersastheoperatingrevenue.Standalonegamesareavailablefordownloadingbytheplayersintheformofamobilestandalonegamepackage.Whenaplayerpurchasespropsofthegame,theembeddedprogramgeneratesabillinginstruction;thetelecomcarrierorserviceprovidersendsabillingcodebytextmessage,andthenthecarrierconfirmsthedeductionoftherelevanttelephonechargetocompletetheprocessofbillingandpayment.Thedeductionandpaymentoftheinformationchargeforthemobilestandalonegameisirrevocable.Afterthedeductionofsuchchargebythecarrier,therisksandrewardsaretransferredtotheusers.TheCompany’sstandalonegamesaredistributedjointlywiththirdparties.Aftertheusershavedownloadedandinstalledthegames,theCompanyisnotresponsibleforthemanagementofthegamesorotherwiserestrictstheuseofthegamesbytheusers,thatis,theCompanydoesnothavecontroloversuchgames.Insuchmode,theCompanyrecognizesitsshareofrevenueastheoperatingrevenueascalculatedaccordingtothecooperationagreementconcludedwiththerelevantthird-partyplatformandconfirmedbytheCompanyandthethird-partyplatform.
(10)RevenuefromH5interactionRevenuefromH5interactionmainlycomesfromH5interactiveadvertisementsplacedbyclientsinthetelevisionprogramsofHunan
TV,andisrecognizedaftertheshowingoftherelevantprogramsonHunanTV.
(11)Revenuefromwirelessvalue-addedserviceAccordingtothewirelessvalue-addedservicecontractconcludedbytheCompanyandtherelevantclient,ifthecontractspecifiesthetotalcontractprice,thecontractpriceisallocatedaccordingtothescheduleofpaymentduringthetermoflicensespecifiedthereinifthecontractpricewillbepaidininstallments,orwhollyrecognizedasrevenueafterthedeliveryofserviceifthecontractpricewillbepaidinonelumpsum.Ifthecontractdoesnotspecifythetotalcontractprice,therevenueisrecognizedaccordingtothesettlementstatementsprovidedbytheclient.DifferenceintheaccountingpolicyforrevenuerecognitionarisingfromadoptionofdifferentmodesofoperationforthesamekindofbusinessNone
27.Governmentgrants
1.Governmentgrantsarerecognizedif(i)theCompanymeetstheconditionsattachingtothegovernmentgrants;and(ii)theCompanywillreceivethegovernmentgrants.Ifagovernmentgrantisintheformofatransferofamonetaryasset,theitemismeasuredattheamountreceivedorreceivable.Ifagovernmentgrantisintheformofatransferofanon-monetaryasset,theitemismeasuredatfairvalue.Iffairvalueisnotreliablydeterminable,theitemismeasuredatanominalamount.
2.DeterminationandaccountingtreatmentofgovernmentgrantsrelatedtoassetsGovernmentgrantsrelatedtoassetsaregovernmentgrantswhichareofferedforpurchasing,constructingorotherwiseacquiringlong-termassetsasprovidedbytheapplicablegovernmentdocuments,orintheabsenceofsuchexpressprovisionintheapplicablegovernmentdocuments,governmentgrantswhoseprimaryconditionisthattheCompanyshouldpurchase,constructorotherwiseacquirelong-termassets.Thegovernmentgrantsrelatedtoassetsareoffsetagainstthecarryingamountoftherelatedassetsorrecognizedasdeferredincome.Governmentgrantsrelatedtoassetsrecognizedasdeferredincomeareincludedinprofitorlossovertheservicelifeoftherelevantassetsonareasonableandsystemicbasis.Governmentgrantsmeasuredatnominalamountaredirectlyrecognizedinprofitorlossforthecurrentperiod.Incaseofsale,transfer,retirementordamageoftherelevantassetsbeforetheendofintendedservicelife,thebalanceoftheunallocateddeferredincomeistransferredtoprofitorlossfortheperiodinwhichtheassetsaredisposedof.
3.DeterminationandaccountingtreatmentofgovernmentgrantsrelatedtoincomeGovernmentgrantsrelatedtoincomearegovernmentgrantsotherthanthoserelatedtoassets.Governmentgrantsrelatedtobothassetsandincomeinwhichitisdifficulttomakeadistinctionbetweentheportionrelatedtoassetsandtheportionrelatedtoincomearewhollyclassifiedasgovernmentgrantsrelatedtoincome.Governmentgrantsrelatedtoincomeascompensationforexpensesorlossestobeincurredinsubsequentperiodsarerecognizedasdeferredincomeandintheperiodforrecognizingtherelevantcosts,expensesorlosses,includedinprofitorlossforthecurrentperiodoroffsetagainsttherelevantcosts.Governmentgrantsrelatedtoincomeascompensationforexpensesorlossesalreadyincurredaredirectlyincludedinprofitorlossforthecurrentperiodoroffsetagainsttherelevantcosts.
4.Governmentgrantsrelatedtoday-to-dayoperationsoftheCompanyarerecognizedinotherincomeoroffsetagainsttherelevantcostsandexpensesdependingonthenatureofeconomicbusiness.Governmentgrantsnotrelatedtoday-to-dayoperationsoftheCompanyarerecognizedinnon-operatingrevenuesorexpenses.
5.Accountingtreatmentofpolicypreferentialloansandinterestsubsidies
(1)IftheMinistryofFinanceappropriatestheinterestsubsidiestothelendingbank,andthenthelendingbankoffersaloantotheCompanyatthepolicy-basedpreferentialinterestrate,theCompanyrecognizestheloanamountactuallyreceivedastherecordedamountoftheloan,andcalculatestheborrowingcostsaccordingtotheloanprincipalandsuchpolicy-basedpreferentialinterestrate.
(2)IftheMinistryofFinancedirectlyappropriatestheinterestsubsidiestotheCompany,theCompanyoffsetsthecorresponding
interestsubsidyagainsttherelatedborrowingcosts.
28.Deferredtaxassets/deferredtaxliabilities
1.Thedifferencebetweenthetaxbaseofanassetorliabilityanditscarryingamount(orincaseofanitemnotrecognizedasassetorliabilitywhosetaxbasecanbedeterminedaccordingtotheapplicabletaxlaw,thedifferencebetweenitstaxbaseandcarryingamount),isrecognizedasadeferredtaxassetordeferredtaxliabilityaccordingtothetaxrateapplicabletotheperiodinwhichtheassetorliabilityisexpectedtoberecoveredorsettled.
2.Deferredincometaxassetsarerecognizedtotheextentoftheamountofincometaxpayablethatwillbeavailableinfutureperiodsagainstwhichdeductibletemporarydifferencesaredeductible.Atthebalancesheetdate,deferredtaxassetsnotrecognizedinpriorperiodsarerecognizedifthere’sconclusiveevidencethatitisprobablethatsufficienttaxableincomewillbeavailableinfutureperiodsagainstwhichthedeductibletemporarydifferencesaredeductible.
3.Atthebalancesheetdate,thecarryingamountofadeferredtaxassetisreviewed.TheCompanyreducesthecarryingamountofadeferredtaxassettotheextentthatitisnolongerprobablethatsufficienttaxableincomewillbeavailableinfutureperiodstoallowthebenefitofthedeferredtaxassettobeutilized.Anysuchreductioninamountisreversedtotheextentthatitbecomesprobablethatsufficienttaxableincomewillbeavailable.
4.CurrentanddeferredtaxoftheCompanyisrecognizedasincomeoranexpenseandincludedinprofitorlossforthecurrentperiod,excepttotheextentthatthetaxarisesfrom:(1)businesscombination;or(2)atransactionoreventwhichisrecognizeddirectlyinowner’sequity.
29.Lease
(1)Accountingtreatmentforoperatinglease
1.TheCompanyasalesseeAtthecommencementdateoftheleaseterm,theCompanyrecognizesaleasewithaleasetermnotmorethan12monthsthatincludenopurchaseoptionasshort-termlease;andaleaseatlowervaluewhentheindividuallyleasedassetisbrand-newaslow-valueassetlease.IftheCompanysubleasesorexpectstosubleasetheleasedassets,theoriginalleaseisnotrecognizedasalow-valueassetlease.Forallshort-termleaseandlow-valueassetlease,theCompanyrecognizestheleasepaymentsinthecostofrelevantassetsorprofitorlossforthecurrentperiodonastraight-linebasisoverthetermoftherelevantlease.
2.TheCompanyasalessorAtthecommencementdateoftheleaseterm,theCompanyclassifiesaleaseasfinanceleasewheneverthetermsoftheleasetransfersubstantiallyalltherisksandrewardsofownershiptothelessee,andallotherleasesasoperatingleases.
TheCompanyrecognizesleasereceiptsasrentalincomeonastraight-linebasisoverthetermoftherelevantlease,withinitialdirectcostsincurredcapitalizedandapportionedonthesamebasisofrecognizingrentalincometoincludeinprofitorlossforthecurrentperiodseparately.VariableleasepaymentsobtainedbytheCompanyrelevanttooperatingleasesthatarenotincludedintheleasereceiptsarerecognizedinprofitorlosswhentheyareactuallyincurred.
(2)Accountingtreatmentforfinancelease
1.TheCompanyasalessee
Atthecommencementdateoftheleaseterm,theCompanyrecognizesrightofuseassetandleaseliabilityforalease,withdetailsreferringtoRightofuseassetsandLeaseliabilitiesdescribedabove.
2.TheCompanyasalessor
Atthecommencementdateoftheleaseterm,theCompanyrecognizesthefinanceleasereceivableatthenetvalueofleaseinvestment(thesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasereceiptsnotyetreceivedatthecommencementdateoftheleasetermthatarediscountedattheinterestrateinthelease)andderecognizesthefinanceleaseasset.Overthetermoftherelevantlease,theCompanycalculatesandrecognizesinterestincomebasedontheinterestrateinthelease.
VariableleasepaymentsobtainedbytheCompanythatarenotincludedinthenetvalueofleaseinvestmentarerecognizedinprofitorlosswhentheyareactuallyincurred.
30.Othersignificantaccountingpoliciesandaccountingestimates
CustomercreditpolicyTheaccountingforcustomercreditsrequiresanestimateofthefairvalueandthetimeandpossibilityofuseofcredits.Valuationandrecordingofcustomercreditsrequirejudgmentandestimation.Iftheresultofre-estimationisdifferentfromthecurrentestimation,suchdifferencewillaffectthecarryingamountofcontractliabilitiesfortheperiodinwhichtheestimationischanged.
31.Changesinsignificantaccountingpoliciesandaccountingestimates
(1)Changesinsignificantaccountingpolicies
√Applicable□N/A
| Changesinaccountingpoliciesandassociatedreasons | Approvalprocedure | Remark |
| ChangesinaccountingpoliciescausedbychangesinAccountingStandardsforBusinessEnterprises | ApprovedbytheCompanyatthe36thmeetingofthe3rdboardofdirectorsheldonApril22,2021. | NewLeaseStandard |
1.TheCompanyimplementedtherevisedAccountingStandardsforBusinessEnterprisesNo.21—Lease(the“NewLeaseStandard”)fromJanuary1,2021(the“FirstImplementationDate”).
(1)ForcontractsexistingbeforetheFirstImplementationDate,theCompanychoosesnottoreassesswhethertheyareleasesorincludeleases.
(2)ForleasecontractsinwhichtheCompanyisalessee,theCompanyretrospectivelyadjuststheamountofretainedearningsandotherrelateditemsinthefinancialstatementsatthebeginningofthereportingperiodinaccordancewiththecumulativeeffectsarisingfromtheimplementationoftheNewLeaseStandardcomparingwiththepreviousstandardontheFirstImplementationDate,withtheinformationforthecomparableperiodnotadjusted.Thedetailsareshownasfollows:
ForoperatingleasespriortotheFirstImplementationDate,theCompany,ontheFirstImplementationDate,measurestheleaseliabilitybasedonthepresentvalueoftheremainingleasepaymentsdiscountedattheCompany’sincrementalborrowingrateontheFirstImplementationDate,andtherightofuseassetatanamountequaltotheleaseliabilitywithnecessaryadjustmentsforprepaidrentals.
OntheFirstImplementationDate,theCompanymakesimpairmenttestsandrelevantaccountingtreatmentsforrightofuseassetsinaccordancewithNoteV(20)totheFinancialStatements.
1)ThemainimpactsoftheNewLeaseStandardontheCompany’sfinancialstatementsonJanuary1,2021arepresentedasfollows:
| Item | BalanceSheet | ||
| December31,2020 | AdjustmentimpactsofNewLeaseStandard | January1,2021 | |
| Prepayment | 1,398,350,153.72 | -409,160.33 | 1,397,940,993.39 |
| Rightofuseassets | 217,783,996.12 | 217,783,996.12 | |
| Non-currentliabilitiesduewithinoneyear | 48,596,782.45 | 48,596,782.45 | |
| Leaseliabilities | 168,778,053.34 | 168,778,053.34 |
2)TheleaseliabilitiesincludedinthebalancesheetontheFirstImplementationDateadopts3.85%astheweightedaverageoftheCompany’sincrementalborrowingrate.
3)SimplifiedtreatmentappliedtooperatingleasespriortotheFirstImplementationDate
A.Forleasecontractscompletedwithin12monthsaftertheFirstImplementationDate,theCompanyappliessimplifiedmethodanddoesnotrecognizerightofuseassetsandleaseliabilities.
B.TheCompanyadoptsthesamediscountrateforleasecontractswithsimilarcharacteristicslikesimilarleasetermsinmeasuringleaseliabilities.
C.Themeasurementofrightofuseassetsdoesnotinvolveinitialdirectcosts.
D.TheCompanydeterminestheleasetermbasedontheactualexerciseoftheoptiontorenewortoterminatetheleaseandotherlatestinformationpriortotheFirstImplementationDate.
E.Asanalternativeoftheimpairmenttestforrightofuseasset,theCompanyassesseswhetherthecontractincludingaleaseisanonerouscontractpriortotheFirstImplementationDateinaccordancewiththeAccountingStandardsforBusinessEnterprisesNo.13-ContingenciesandadjuststherightofuseassetbytheamountoflossprovisionrecordedatthebalancesheetdatepriortotheFirstImplementationDate.
F.IfaleasechangespriortotheFirstImplementationDate,theCompanywillmakeaccountingtreatmentinaccordancewiththefinalarrangementoftheleasechange.
TheabovesimplifiedtreatmenthasbroughtnosignificantimpactontheCompany’sfinancialstatements.
(3)Foroperatingleasecontractsrelatedtolow-valueassetsthathaveexistedbeforetheFirstImplementationDate,theCompanyadoptssimplifiedtreatmentsofnotrecognizingrightofuseassetsandleaseliabilities,andaccountingfortheminaccordancewiththeNewLeaseStandardfromtheFirstImplementationDate.
(4)ForleasecontractsinwhichtheCompanyisalessor,theCompanywillaccountfortheleasecontractsinaccordancewiththeNewLeaseStandardfromtheFirstImplementationDate.
2.TheCompanyimplementstheInterpretationNo.14oftheAccountingStandardsforBusinessEnterprisesissuedbytheMinistryofFinancein2021fromJanuary26,2021,andchangesintheaccountingpolicybringnoimpactontheCompany’sfinancialstatements.
3.TheCompanyimplementsthe“PresentationofCentralizedManagementofFunds”inInterpretationNo.15oftheAccountingStandardsforBusinessEnterprisesissuedbytheMinistryofFinancefromDecember31,2021,andchangesintheaccountingpolicybringnoimpactontheCompany’sfinancialstatements.
(2)Changesinsignificantaccountingestimates
□Applicable√N/A
(3)DescriptionofadjustmentsinopeningbalancesoflineitemsinfinancialstatementsoftheyearduetofirstimplementationofNewLeaseStandardsince2021
√Applicable□N/ADidtheopeningbalancesoflineitemsinthebalancesheetrequireadjustment?
√Yes□NoConsolidatedbalancesheet
InRMB
| Item | December31,2020 | January1,2021 | Adjustedamount |
| CurrentAssets: | |||
| Cashandbankbalances | 5,336,319,786.70 | 5,336,319,786.70 | |
| Balanceswithclearingagencies | |||
| Placementswithbanksandotherfinancialinstitutions | |||
| Held-for-tradingfinancialassets | |||
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | 2,976,696,672.95 | 2,976,696,672.95 | |
| Receivablefinancing | 164,410,000.00 | 164,410,000.00 | |
| Prepayments | 1,398,350,153.72 | 1,397,940,993.39 | -409,160.33 |
| Premiumreceivable | |||
| Amountsreceivableunderreinsurancecontracts | |||
| Reinsurer’sshareofinsurancecontractreserves | |||
| Otherreceivables | 51,168,090.47 | 51,168,090.47 | |
| Including:dividendsreceivable | |||
| Dividendsreceivable | |||
| Financialassetspurchasedunderresaleagreements | |||
| Inventories | 1,660,324,608.09 | 1,660,324,608.09 | |
| Contractassets | 817,451,396.56 | 817,451,396.56 | |
| Held-for-saleassets | |||
| Non-currentassetsduewithinoneyear | |||
| Othercurrentassets | 520,087,664.20 | 520,087,664.20 | |
| Totalcurrentassets | 12,924,808,372.69 | 12,924,399,212.36 | -409,160.33 |
| Non-currentassets: |
| Loansandadvancestocustomers | |||
| Debtinvestments | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestments | 22,882,969.51 | 22,882,969.51 | |
| Otherinvestmentsinequityinstruments | |||
| Othernon-currentfinancialassets | |||
| Investmentproperties | |||
| Fixedassets | 186,924,296.25 | 186,924,296.25 | |
| Constructioninprogress | |||
| Bearerbiologicalassets | |||
| Oilandgasassets | |||
| Rightofuseassets | 217,783,996.12 | 217,783,996.12 | |
| Intangibleassets | 5,894,454,399.68 | 5,894,454,399.68 | |
| Developmentexpenditure | 157,264,231.85 | 157,264,231.85 | |
| Goodwill | |||
| Long-termprepaidexpenses | 77,342,051.99 | 77,342,051.99 | |
| Deferredincometaxassets | |||
| Othernon-currentassets | 2,023,481.01 | 2,023,481.01 | |
| Totalnon-currentassets | 6,340,891,430.29 | 6,558,675,426.41 | 217,783,996.12 |
| Totalassets | 19,265,699,802.98 | 19,483,074,638.77 | 217,374,835.79 |
| Currentliabilities: | |||
| Shorttermborrowings | 39,789,110.68 | 39,789,110.68 | |
| Loansfromthecentralbank | |||
| Takingfrombanksandotherfinancialinstitutions | |||
| Held-for-tradingfinancialliabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | 712,292,035.75 | 712,292,035.75 | |
| Accountspayable | 5,217,087,330.62 | 5,217,087,330.62 | |
| Receiptsinadvance |
| Contractliabilities | 1,330,475,023.10 | 1,330,475,023.10 | |
| Financialassetssoldunderrepurchaseagreements | |||
| Customerdepositsanddepositsfrombanksandotherfinancialinstitutions | |||
| Fundsfromsecuritiestradingagency | |||
| Fundsfromunderwritingsecuritiesagency | |||
| Employeebenefitspayable | 856,712,827.84 | 856,712,827.84 | |
| Taxespayable | 131,527,885.95 | 131,527,885.95 | |
| Otherpayables | 160,651,194.91 | 160,651,194.91 | |
| Including:interestpayable | |||
| Dividendspayable | |||
| Feesandcommissionspayable | |||
| Amountspayableunderreinsurancecontracts | |||
| Held-for-saleliabilities | |||
| Non-currentliabilitiesduewithinoneyear | 48,596,782.45 | 48,596,782.45 | |
| Othercurrentliabilities | 138,698,825.59 | 138,698,825.59 | |
| Totalcurrentliabilities | 8,587,234,234.44 | 8,635,831,016.89 | 48,596,782.45 |
| Non-currentliabilities: | |||
| Insurancecontractreserves | |||
| Long-termborrowings | |||
| Bondspayable | |||
| Including:preferredshares | |||
| Perpetualbonds | |||
| Leaseliabilities | 168,778,053.34 | 168,778,053.34 | |
| Long-termpayables | |||
| Long-termemployeebenefitspayable | |||
| Provisions | 8,305,486.15 | 8,305,486.15 | |
| Deferredincome | 48,938,835.69 | 48,938,835.69 |
| Deferredincometaxliabilities | |||
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 57,244,321.84 | 226,022,375.18 | 168,778,053.34 |
| Totalliabilities | 8,644,478,556.28 | 8,861,853,392.07 | 217,374,835.79 |
| Owner’sequity: | |||
| Sharecapital | 1,780,377,511.00 | 1,780,377,511.00 | |
| Otherequityinstruments | |||
| Including:preferredshares | |||
| Perpetualbonds | |||
| Capitalreserve | 4,838,937,706.35 | 4,838,937,706.35 | |
| Less:treasuryshares | |||
| Othercomprehensiveincome | -2,759.37 | -2,759.37 | |
| Specialreserve | |||
| Surplusreserve | 87,139,560.14 | 87,139,560.14 | |
| Generalriskreserve | |||
| Undistributedprofit | 3,881,526,167.30 | 3,881,526,167.30 | |
| Totalowners’equityattributabletoequityholdersoftheparentcompany | 10,587,978,185.42 | 10,587,978,185.42 | |
| Minorityinterests | 33,243,061.28 | 33,243,061.28 | |
| Totalowners’equity | 10,621,221,246.70 | 10,621,221,246.70 | |
| Totalliabilitiesandowners’equity | 19,265,699,802.98 | 19,483,074,638.77 | 217,374,835.79 |
DescriptionsofadjustmentsOnJanuary1,2021,theCompanybegantoimplementtheNoticeonRevisionandIssuanceoftheAccountingStandardsforBusinessEnterprisesNo.21-Leases(CaiKuai[2018]No.35)(the“NewLeaseStandard”),accordingtowhichtheprepaidrentrecognizedinprepaymentswastransferredtorightofuseassets,andleasesotherthanshort-termandlow-valueleaseswererecognizedasrightofuseassetsandleaseliabilities.Balancesheetoftheparentcompany
InRMB
| Item | December31,2020 | January1,2021 | Adjustedamount |
| CurrentAssets: | |||
| Cashandbankbalances | 405,729,095.82 | 405,729,095.82 | |
| Held-for-tradingfinancialassets |
| Derivativefinancialassets | |||
| Notesreceivable | |||
| Accountsreceivable | |||
| Receivablefinancing | |||
| Prepayments | 270,000.00 | 270,000.00 | |
| Otherreceivables | 260,068,347.20 | 260,068,347.20 | |
| Including:dividendsreceivable | |||
| Dividendsreceivable | |||
| Inventories | |||
| Contractassets | |||
| Held-for-saleassets | |||
| Non-currentassetsduewithinoneyear | |||
| Othercurrentassets | 3,194,254.68 | 3,194,254.68 | |
| Totalcurrentassets | 669,261,697.70 | 669,261,697.70 | |
| Non-currentassets: | |||
| Debtinvestments | |||
| Otherdebtinvestments | |||
| Long-termreceivables | |||
| Long-termequityinvestments | 7,780,583,738.35 | 7,780,583,738.35 | |
| Otherinvestmentsinequityinstruments | |||
| Othernon-currentfinancialassets | |||
| Investmentproperties | |||
| Fixedassets | 1,305,884.91 | 1,305,884.91 | |
| Constructioninprogress | |||
| Bearerbiologicalassets | |||
| Oilandgasassets | |||
| Rightofuseassets | 10,702,835.07 | 10,702,835.07 | |
| Intangibleassets | 803,907.00 | 803,907.00 | |
| Developmentexpenditure | |||
| Goodwill |
| Long-termprepaidexpenses | 5,579,058.77 | 5,579,058.77 | |
| Deferredincometaxassets | |||
| Othernon-currentassets | |||
| Totalnon-currentassets | 7,788,272,589.03 | 7,798,975,424.10 | |
| Totalassets | 8,457,534,286.73 | 8,468,237,121.80 | 10,702,835.07 |
| Currentliabilities: | |||
| Shorttermborrowings | |||
| Held-for-tradingfinancialliabilities | |||
| Derivativefinancialliabilities | |||
| Notespayable | |||
| Accountspayable | |||
| Receiptsinadvance | |||
| Contractliabilities | |||
| Employeebenefitspayable | 31,708,478.30 | 31,708,478.30 | |
| Taxespayable | 545,679.40 | 545,679.40 | |
| Otherpayables | 7,672,949.27 | 7,672,949.27 | |
| Including:interestpayable | |||
| Dividendspayable | |||
| Held-for-saleliabilities | |||
| Non-currentliabilitiesduewithinoneyear | 1,699,498.72 | 1,699,498.72 | |
| Othercurrentliabilities | |||
| Totalcurrentliabilities | 39,927,106.97 | 41,626,605.69 | 1,699,498.72 |
| Non-currentliabilities: | |||
| Long-termborrowings | |||
| Bondspayable | |||
| Including:preferredshares | |||
| Perpetualbonds | |||
| Leaseliabilities | 9,003,336.35 | 9,003,336.35 | |
| Long-termpayables | |||
| Long-termemployeebenefitspayable | |||
| Provisions | |||
| Deferredincome |
| Deferredincometaxliabilities | |||
| Othernon-currentliabilities | |||
| Totalnon-currentliabilities | 9,003,336.35 | 9,003,336.35 | |
| Totalliabilities | 39,927,106.97 | 50,629,942.04 | 10,702,835.07 |
| Owner’sequity: | |||
| Sharecapital | 1,780,377,511.00 | 1,780,377,511.00 | |
| Otherequityinstruments | |||
| Including:preferredshares | |||
| Perpetualbonds | |||
| Capitalreserve | 6,179,334,010.36 | 6,179,334,010.36 | |
| Less:treasuryshares | |||
| Othercomprehensiveincome | |||
| Specialreserve | |||
| Surplusreserve | 87,139,560.14 | 87,139,560.14 | |
| Undistributedprofit | 370,756,098.26 | 370,756,098.26 | |
| Totalowners’equity | 8,417,607,179.76 | 8,417,607,179.76 | |
| Totalliabilitiesandowners’equity | 8,457,534,286.73 | 8,468,237,121.80 | 10,702,835.07 |
DescriptionsofadjustmentsOnJanuary1,2021,theCompanybegantoimplementtheNoticeonRevisionandIssuanceoftheAccountingStandardsforBusinessEnterprisesNo.21-Leases(CaiKuai[2018]No.35)(the“NewLeaseStandard”),accordingtowhichtheprepaidrentrecognizedinprepaymentswastransferredtorightofuseassets,andleasesotherthanshort-termandlow-valueleaseswererecognizedasrightofuseassetsandleaseliabilities.
(4)DescriptionofretrospectiveadjustmentsincomparativedatainpriorperiodsduetothefirstimplementationofNewLeaseStandardfrom2021
□Applicable√N/A
32.OthersVI.Taxes
1.Majorcategoriesoftaxesandtaxrates
| Taxtype | Taxationbasis | Taxrate |
| VAT | VATpayableistheoutputtaxbasedonthesalesofgoodsandtaxablelaborincome | 13%,9%,5%,6%,3% |
| calculatedpursuanttothetaxlaw,netoftheinputtaxthatisallowedtobedeductedinthecurrentperiod. | ||
| Consumptiontax | Taxablesalesturnover(volume) | 5% |
| Citymaintenanceandconstructiontax | Actuallypaidturnovertax | 7%,5% |
| Enterpriseincometax | Taxableincome | Taxexemption,8.25%,12.5%,15%,16.5%,25% |
| Propertytax | Ifitisleviedonanadvalorembasis,thetaxiscalculatedas1.2%oftheremainingvalueafterbeingdeducted20%oftheoriginalvalueoftheproperty;ifitisleviedsubjecttorent,thetaxiscalculatedas12%oftherentalincome. | 1.2%,12% |
| Educationsurcharges | Actuallypaidturnovertax | 3% |
| Localeducationsurcharges | Actuallypaidturnovertax | 2% |
| Developmentfeeforculturalundertakings | Taxableserviceincomesubjecttotaxlaws | Taxexemption |
Disclosureoftaxpayerswithdifferentratesofenterpriseincometax:
| Taxpayer | Rateofenterpriseincometax |
| HappigoCo.,Ltd. | Taxexemption |
| HappySunshine | Taxexemption |
| HorgosHappySunshineMediaCo.,Ltd. | Taxexemption |
| MangoStudiosCo.,Ltd. | Taxexemption |
| MangoEntertainmentCo.,Ltd. | Taxexemption |
| HunanHappyMangoFunTechnologyCo.,Ltd. | Taxexemption |
| HunanE.E.MediaFilmandTelevisionProductionCo.Ltd. | Taxexemption |
| MangoFunTechnology | 12.5% |
| HainanE.E.MediaCo.,Ltd. | 15% |
| HappySunshineXingmangInteractiveEntertainmentMediaCo.,Ltd. | 15% |
| DameirenGlobalTradingCo.,Limited | 8.25%,16.5% |
| HappySunshine(HongKong)MediaCompanyLimited | 8.25%,16.5% |
| Othertaxpayersexcludingaboveones | 25% |
2.Taxincentives
1.HappySunshine,HappigoCo.,Ltd.,MangoStudios,MangoEntertainment,HunanHappyMangoFunTechnologyCo.,Ltd.,andHunanE.E.MediaFilmandTelevisionProductionCo.Ltd.areenterprisestransformedfromculturalpublicinstitutionswithfor-profitoperationsapprovedbytheMinistryofFinanceandtheStateAdministrationofTaxation.InaccordancewiththeNoticeof
ContinuingImplementingSeveralTaxPoliciesfortheTransformationofCulturalPublicInstitutionswithFor-ProfitOperationsintoEnterprisesDuringtheCulturalSystemReformjointlyissuedbytheMinistryofFinance,theStateAdministrationofTaxation,andthePublicityDepartmentoftheCPCCentralCommittee(CaiShui(2019)No.16)inFebruary2019,culturalenterprisestransformedarequalifiedtobeexemptfromenterpriseincometaxwithinfiveyearsfromJanuary1,2019.Thisperiodisthethirdyearofexemptingfromenterpriseincometax.
2.HorgosHappySunshineMediaCo.,Ltd.,isanenterprisewithinthescopedefinedintheNoticeoftheMinistryofFinance,theStateAdministrationofTaxation,theNationalDevelopmentandReformCommission,andtheMinistryofIndustryandInformationTechnologyonPublishingtheCatalogueofEnterpriseIncomeTaxIncentivesforIndustriesParticularlyEncouragedbyPovertyAreasofXinjiangforDevelopment(Trial)(CaiShui(2011)No.60).InaccordancewiththerequirementsintheNoticeonEnterpriseIncomeTaxIncentivePoliciesforEnterprisesinTwoSpecialEconomicDevelopmentZonesIncludingKashgarandHorgosEconomicDevelopmentZonesinXinjiang(CaiShui(2011)No.112),enterprisesinsuchscopecanbeexemptedfromenterpriseincometaxwithinfiveyearsconsecutively,startingfromthefirstyearinwhichmanufacturingorbusinessoperationalrevenueisearnedintheperiodfromJanuary1,2010toDecember31,2020.HorgosHappySunshineMediaCo.,Ltd.isexemptedfromenterpriseincometaxwithinfiveyearsfrom2018asitearneditsfirstmanufacturingorbusinessoperationalrevenuein2018.Thisperiodisthefourthyearofexemptingfromenterpriseincometax.
3.MangoFunhasbeenevaluatedasasoftwareenterpriseinaccordancewiththerequirementsinSeveralPoliciesonFurtherEncouragingtheDevelopmentoftheSoftwareandIntegratedCircuitIndustries(GuoFa(2011)No.4)andtheEvaluationStandardforSoftwareEnterprises.InaccordancewiththeNoticeoftheMinistryofFinance,theStateAdministrationofTaxationonEnterpriseIncomeTaxPoliciesforFurtherEncouragingtheDevelopmentofSoftwareandIntegratedCircuitIndustries(CaiShui[2012]No.27),MangoFun’staxincentiveperiodshouldcommencefrom2017,thefirstyearofearningprofits,whichmeansMangoFuncanbeexemptedfromenterpriseincometaxfromthefirstyeartothesecondyear,andiseligibleforahalvedtaxrate(i.e.25%)fromthethirdyeartothefifthyearuntilthetaxincentiveperiodexpires.Thisperiodisthethirdyearofbeingeligibleforahalvedtaxrate.
4.HappySunshineXingmangInteractiveEntertainmentMediaCo.,Ltd.,HainanE.E.MediaCo.,Ltd.isqualifiedasanencouragedenterpriseregisteredandsubstantiallyoperatinginHainanFreeTradePortinaccordancewiththeNoticeofIncomeTaxIncentivePoliciesforEnterprisesinHainanFreeTradePort(CaiShui[2020]No.31)bytheMinistryofFinanceandtheStateTaxationAdministration,thusitsenterpriseincometaxisleviedatareducedrateof15%.
5.InaccordancewiththeAnnouncementonRelevantPoliciesforDeepeningtheValue-AddedTaxReform(AnnouncementNo.39bytheMinistryofFinance,theStateTaxationAdministrationandtheGeneralAdministrationofCustomsin2019),VATtaxpayersinproductionandlifeserviceindustryareallowedtocredittheamountofinputtaxdeductibleinthecurrentperiodplus10%thereofagainsttheamountoftaxespayablefromApril1,2019toDecember31,2021.
6.InaccordancewiththeNoticeoftheMinistryofFinanceonRelevantPoliciesonAdjustingCertainGovernment-ManagedFunds(CaiShui[2019]No.46),fromJuly1,2019toDecember31,2024,developmentfeesforculturalundertakingsattributabletotheCentralTreasuryshallbereducedat50%ofthetaxableincomepaidbythetaxpayer.InaccordancewiththeNoticeofHuananProvincialDepartmentofFinanceonRelevantPoliciesonAdjustingDevelopmentFeesforCulturalUndertakings(XiangCaiZong(2019)No.11),fromJuly1,2019toDecember31,2024,localenterprisesandinstitutionsandindividualscanpaythedevelopmentfeesforculturalundertakingsunderareductionrateof50%.
7.InaccordancewiththeAnnouncementonTaxationSupportPoliciesforFilmandOtherIndustries(AnnounceNo.25issuedbytheMinistryofFinanceandtheStateAdministrationofTaxationin2020),theCompanyisexemptedfromculturalundertakingconstructionfeesfromJanuary1,2020toDecember31,2020.InaccordancewiththeAnnouncementoftheMinistryofFinanceandtheStateAdministrationofTaxationonContinuingtheImplementationofCertainTaxPreferentialPoliciesRespondingtotheCOVID-19Outbreak(AnnounceNo.21issuedbytheMinistryofFinanceandtheStateAdministrationofTaxationin2021),theCompanyisexemptedfromculturalundertakingconstructionfeesuntilDecember31,2021.
3.OthersVII.NotestoItemsintheConsolidatedFinancialStatements
1.Cashandbankbalances
InRMB
| Item | Closingbalance | Openingbalance |
| Cashonhand | 42,803.61 | 86,976.40 |
| Bankdeposits | 6,952,751,972.39 | 5,317,984,735.78 |
| Othermonetaryfunds | 21,670,375.81 | 18,248,074.52 |
| Total | 6,974,465,151.81 | 5,336,319,786.70 |
| Totalamountoffundsrestrictedinuseduetomortgage,pledgeorfreezing,etc. | 63,087,237.63 | 21,856,302.69 |
Otherdescriptions
Intheclosingbalanceofbankbalances,theamountofRMB5,000.00usingasPOSdepositsandtheamountofRMB61,862,026.15frozenduetolitigationarerestrictedtouse.Intheclosingbalanceofothermonetaryfunds,theamountofRMB1,220,211.48usingasthird-partydepositsarerestrictedtouse.
2.Held-for-tradingfinancialassets
InRMB
| Item | Closingbalance | Openingbalance |
| Financialassetsmeasuredatfairvaluewithanychangesaccruedtothecurrentprofitsandlosses | 3,410,000,000.00 | |
| Including: | ||
| Bankfinance | 3,410,000,000.00 | |
| Including: | ||
| Total | 3,410,000,000.00 |
Otherdescriptions:
3.Notesreceivable
(1)Presentationofnotesreceivablebycategory
InRMB
| Item | Closingbalance | Openingbalance |
| Bankacceptances | 673,742,339.23 |
| Total | 673,742,339.23 |
InRMB
| Category | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Carryingamount | Bookbalance | Baddebtprovision | Carryingamount | |||||
| Amount | Proportion | Amount | Proportion | Amount | Proportion | Amount | Proportion | |||
| Including: | ||||||||||
| Notesreceivableforwhichtheprovisionforbaddebtsaremadebygroup | 673,742,339.23 | 100.00% | 673,742,339.23 | |||||||
| Including: | ||||||||||
| Groupofbankacceptances | 673,742,339.23 | 100.00% | 673,742,339.23 | |||||||
| Total | 673,742,339.23 | 100.00% | 673,742,339.23 | |||||||
Provisionsforbaddebtsmadeindividually:
InRMB
| Name | Closingbalance | |||
| Bookbalance | Baddebtprovision | Proportion | Reasonforprovisions | |
Provisionsforbaddebtsmadebygroup:
InRMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
Descriptionofbasisfordeterminingthegroup:
Ifaprovisionforbaddebtsismadefornotesreceivableinaccordancewiththegeneralmodelofexpectedcreditlosses(hereinafterreferredtoas“ECL”),pleasediscloserelevantinformationonprovisionsforbaddebtswithreferencetothedisclosuremethodofotherreceivables.
□Applicable√N/A
(2)Provisions,recoveryorreversalofbaddebtsforthecurrentperiodProvisionsforbaddebtsmadeforthecurrentperiod
InRMB
| Category | Openingbalance | Changesforthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
Significantrecoveryorreversalofbaddebtprovisionforthecurrentperiod:
□Applicable√N/A
(3)NotesreceivableoftheCompanypledgedattheendoftheReportingPeriod
InRMB
| Item | Pledgedamountattheendoftheperiod |
(4)NotesreceivableoftheCompanythathavebeenendorsedordiscountedandarenotyetdueasofthebalancesheetdateattheendoftheReportingPeriod
InRMB
| Item | Balancederecognizedattheendoftheperiod | Balancenotderecognizedattheendoftheperiod |
| Bankacceptances | 210,748,000.00 | |
| Total | 210,748,000.00 |
(5)NotesreceivableoftheCompanythathavebeentransferredtoaccountsreceivableduetothedrawers'failureofperformanceattheendoftheReportingPeriod
InRMB
| Item | AmounttransferredtoaccountsreceivableattheendoftheReportingPeriod |
Otherdescriptions
Asitisunlikelyforlargestate-ownedcommercialbanksandlistedjoint-stockcommercialbankstobeunabletopaythematuredacceptancebills,theCompanyderecognizestheabovebankacceptancesthathavebeenendorsedordiscounted.However,ifthesebankacceptancesarenotpaidonmaturity,theCompanywillstillbejointlyandseverallyliabletotheholderinaccordancewiththeprovisionsoftheLawonNegotiableInstruments.Exceptthoseacceptedbylargestate-ownedcommercialbanksandlistedjoint-stockcommercialbanks,theCompanyderecognizesnootherbankacceptancesthathavebeenendorsedordiscounted.
(6)Notesreceivableactuallywrittenoffforthecurrentperiod
InRMB
| Item | Write-offamount |
Informationofsignificantnotesreceivablethatarewrittenoff:
InRMB
| Entity | Natureofnotesreceivable | Write-offamount | Reasonforwrite-off | Write-offproceduresperformed | Whethertheamountarisesfromrelated-partytransactions |
Descriptionofwrite-offofnotesreceivable:
4.Accountsreceivable
(1)Disclosureofaccountsreceivablebycategory
InRMB
| Category | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Carryingamount | Bookbalance | Baddebtprovision | Carryingamount | |||||
| Amount | Proportion | Amount | Proportion | Amount | Proportion | Amount | Proportion | |||
| Accountsreceivableforwhichtheprovisionforbaddebtsaremadeindividually | 96,251,520.25 | 2.92% | 57,616,847.28 | 59.86% | 38,634,672.97 | 70,540,338.97 | 2.26% | 49,824,633.16 | 70.63% | 20,715,705.81 |
| Including: | ||||||||||
| Accountsreceivableforwhichtheprovisionforbaddebtsaremadebygroup | 3,198,630,401.64 | 97.08% | 123,522,159.73 | 3.86% | 3,075,108,241.91 | 3,053,563,568.97 | 97.74% | 97,582,601.83 | 3.20% | 2,955,980,967.14 |
| Including: | ||||||||||
| Total | 3,294,881,921.89 | 100.00% | 181,139,007.01 | 5.50% | 3,113,742,914.88 | 3,124,103,907.94 | 100.00% | 147,407,234.99 | 4.72% | 2,976,696,672.95 |
Provisionsforbaddebtsmadeindividually:
InRMB
| Name | Closingbalance | |||
| Bookbalance | Baddebtprovision | Proportion | Reasonforprovisions | |
| Thefirst | 43,718,371.28 | 16,777,045.63 | 38.38% | Likelytobenon-recoverable |
| Thesecond | 13,605,050.00 | 4,081,515.00 | 30.00% | Likelytobenon-recoverable |
| Thethird | 10,786,000.00 | 10,786,000.00 | 100.00% | Expectedtobenon-recoverable |
| Thefourth | 9,701,037.77 | 9,701,037.77 | 100.00% | Expectedtobenon-recoverable |
| Thefifth | 5,832,200.00 | 5,832,200.00 | 100.00% | Expectedtobenon-recoverable |
| Thesixth | 3,880,651.10 | 3,880,651.10 | 100.00% | Expectedtobenon-recoverable |
| Theseventh | 3,000,000.00 | 830,187.68 | 27.67% | Likelytobenon-recoverable |
| Theeighth | 2,185,000.00 | 2,185,000.00 | 100.00% | Expectedtobe |
| non-recoverable | ||||
| Others | 3,543,210.10 | 3,543,210.10 | 100.00% | Expectedtobenon-recoverable |
| Total | 96,251,520.25 | 57,616,847.28 | -- | -- |
Provisionsforbaddebtsmadeindividually:
InRMB
| Name | Closingbalance | |||
| Bookbalance | Baddebtprovision | Proportion | Reasonforprovisions | |
Provisionsforbaddebtsmadebygroup:
InRMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
| Aginggroup | 1,769,746,844.21 | 123,522,159.73 | 6.98% |
| Groupofreceivablesfromrelatedpartiescontrolledbythesameactualcontroller | 1,428,883,557.43 | ||
| Total | 3,198,630,401.64 | 123,522,159.73 | -- |
Descriptionofbasisfordeterminingthegroup:
Provisionsforbaddebtsmadebygroup:aginggroup
InRMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
| Within1year | 1,230,532,020.41 | 53,572,481.28 | 4.35% |
| 1-2years | 239,014,294.97 | 17,516,681.30 | 7.33% |
| 2-3years | 266,864,072.98 | 39,026,384.35 | 14.62% |
| 3-4years | 28,617,506.47 | 9,143,715.00 | 31.95% |
| 4-5years | 1,494,849.98 | 1,038,798.40 | 69.49% |
| Over5years | 3,224,099.40 | 3,224,099.40 | 100.00% |
| Total | 1,769,746,844.21 | 123,522,159.73 | -- |
Descriptionofbasisfordeterminingthegroup:
Provisionsforbaddebtsmadebygroup:
InRMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
Descriptionofbasisfordeterminingthegroup:
Ifaprovisionforbaddebtsismadeforaccountsreceivableinaccordancewiththegeneralmodelofexpectedcreditlosses,please
discloserelevantinformationonprovisionsforbaddebtswithreferencetothedisclosuremethodofotherreceivables.
□Applicable√N/ADisclosurebyaging
InRMB
| Aging | Bookbalance |
| Within1year(including) | 2,610,801,538.75 |
| 1-2years | 353,131,856.11 |
| 2-3years | 272,414,533.08 |
| Over3years | 58,533,993.95 |
| 3-4years | 42,224,609.67 |
| 4-5years | 2,251,453.78 |
| Over5years | 14,057,930.50 |
| Total | 3,294,881,921.89 |
(2)Provisions,recoveryorreversalofbaddebtsforthecurrentperiod
Provisionsforbaddebtsmadeforthecurrentperiod
InRMB
| Category | Openingbalance | Changesforthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
| Provisionsforbaddebtsmadeindividually: | 49,824,633.16 | 19,780,592.81 | 4,843,660.00 | 7,108,378.68 | -36,340.01 | 57,616,847.28 |
| Provisionsforbaddebtsmadebygroup: | 97,582,601.83 | 25,970,093.72 | -30,535.82 | 123,522,159.73 | ||
| Total | 147,407,234.99 | 45,750,686.53 | 4,843,660.00 | 7,108,378.68 | -66,875.83 | 181,139,007.01 |
Significantrecoveryorreversalofbaddebtprovisionforthecurrentperiod:
InRMB
| Entity | Amountofrecoveryorreversal | Methodofrecovery |
(3)Accountsreceivableactuallywrittenoffforthecurrentperiod
InRMB
| Item | Write-offamount |
| Accountsreceivable | 7,108,378.68 |
Informationofsignificantaccountsreceivablethatarewrittenoff:
InRMB
| Entity | Natureofaccountsreceivable | Write-offamount | Reasonforwrite-off | Write-offproceduresperformed | Whethertheamountarisesfromrelated-partytransactions |
Descriptionofwrite-offofaccountsreceivable:
(4)Topfiveclosingbalancesofaccountsreceivablecategorizedbydebtor
InRMB
| Entity | Closingbalanceofaccountsreceivable | Proportionoftotalclosingbalanceofaccountsreceivable | Closingbalanceofprovisionsforbaddebts |
| Thefirst | 1,039,093,242.60 | 31.54% | |
| Thesecond | 345,350,543.25 | 10.48% | |
| Thethird | 229,332,314.07 | 6.96% | 11,444,236.34 |
| Thefourth | 80,962,500.00 | 2.46% | 8,096,250.00 |
| Thefifth | 64,132,446.09 | 1.95% | 3,330,298.62 |
| Total | 1,758,871,046.01 | 53.39% |
(5)Accountsreceivablederecognizedduetotransferoffinancialassets
(6)AmountofassetsandliabilitiesarisingfromtransferofaccountsreceivableundercontinuinginvolvementOtherdescriptions:
5.Receivablefinancing
InRMB
| Item | Closingbalance | Openingbalance |
| Bankacceptances | 137,800,000.00 | 164,410,000.00 |
| Total | 137,800,000.00 | 164,410,000.00 |
Increaseordecreaseofreceivablefinancingforthecurrentperiodandchangesinitsfairvalue
□Applicable√N/AIfaprovisionforimpairmentismadeforreceivablefinancinginaccordancewiththegeneralmodelofexpectedcreditlosses,pleasediscloserelevantinformationontheprovisionsforimpairmentwithreferencetothedisclosuremethodofotherreceivables.
□Applicable√N/AOtherdescriptions:
Attheendoftheperiod,bankacceptancesoftheCompanythathavebeenendorsedordiscountedbutnotyetdueasofthebalancesheetdateamounttoRMB161,846,150.00.
6.Prepayments
(1)Presentationofprepaymentsbyaging
InRMB
| Aging | Closingbalance | Openingbalance | ||
| Amount | Proportion | Amount | Proportion | |
| Within1year | 1,420,518,067.67 | 77.44% | 1,056,202,175.77 | 75.55% |
| 1-2years | 174,255,538.14 | 9.50% | 141,828,262.96 | 10.15% |
| 2-3years | 103,322,639.16 | 5.63% | 95,580,817.91 | 6.84% |
| Over3years | 136,253,768.23 | 7.43% | 104,329,736.75 | 7.46% |
| Total | 1,834,350,013.20 | -- | 1,397,940,993.39 | -- |
Reasonsforoverduesettlementofprepaymentswithsignificantamountsandagedmorethan1year:
| Entity | Closingbalance | Reasonsforunsettlement |
| Thefirst | 226,428,301.80 | Prepaymentsforcopyrights,pendingbroadcasting |
| Thesecond | 57,816,250.00 | Undeliveredgoods |
| Thethird | 49,999,516.00 | Undeliveredgoods |
| Thefourth | 45,283,019.04 | Prepaymentsforcopyrights,pendingbroadcasting |
| Thefifth | 42,915,750.00 | Undeliveredgoods |
| Thesixth | 31,733,651.04 | Prepaymentsforcopyrights,pendingbroadcasting |
| Sub-total | 454,176,487.88 |
(2)Topfiveclosingbalancesofprepaymentscategorizedbyreceivers
| Entity | Bookbalance | Proportiontototalprepayments(%) |
| Thefirst | 226,428,301.80 | 11.53 |
| Thesecond | 142,614,624.00 | 7.27 |
| Thethird | 90,085,653.58 | 4.59 |
| Thefourth | 83,767,619.64 | 4.27 |
| Thefifth | 71,094,383.44 | 3.62 |
| Sub-total | 613,990,582.46 | 31.28 |
Otherdescriptions:refertoNoteVII(31)ofthisFinancialStatementforthedifferencebetweenbeginningnumberandendingnumberofpreviousyear(December31,2020).
7.Otherreceivables
InRMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 40,568,403.37 | 51,168,090.47 |
| Total | 40,568,403.37 | 51,168,090.47 |
(1)Interestreceivable
1)Categoryofinterestreceivable
InRMB
| Item | Closingbalance | Openingbalance |
2)Significantoverdueinterest
InRMB
| Borrower | Closingbalance | Overdueperiod | Reasonforoverdue | Ifimpairedandthejudgementbasis |
Otherdescriptions:
3)Provisionsforbaddebts
□Applicable√N/A
(2)Dividendsreceivable
1)Categoryofdividendsreceivable
InRMB
| Item(orinvestee) | Closingbalance | Openingbalance |
2)Significantdividendsreceivableagingoveroneyear
InRMB
| Item(orinvestee) | Closingbalance | Aging | Reasonfornorecovery | Ifimpairedandthejudgementbasis |
3)Provisionsforbaddebts
□Applicable√N/AOtherdescriptions:
(3)Otherreceivables
1)Categoryofotherreceivablesbynature
InRMB
| Natureofreceivables | Bookbalanceattheendoftheperiod | Bookbalanceatthebeginningoftheperiod |
| Securitydeposit | 20,865,460.51 | 17,122,521.77 |
| Amountduetoorfromrelatedparties | 6,905,347.81 | 3,928,869.69 |
| Suspensepaymentsreceivable | 4,517,799.42 | 3,787,622.67 |
| Pettycash | 6,334,132.71 | 8,384,709.56 |
| Receivablesandpayables | 7,369,135.72 | 22,452,844.09 |
| Total | 45,991,876.17 | 55,676,567.78 |
2)Provisionsforbaddebts
InRMB
| Baddebtprovision | StageI | StageII | StageIII | Total |
| Future12-monthECL | LifetimeECL(withoutcreditimpairment) | LifetimeECL(withcreditimpairment) | ||
| BalanceasatJanuary1,2021 | 831,767.93 | 146,161.29 | 3,530,548.09 | 4,508,477.31 |
| BalanceasatJanuary1,2020transferredto | —— | —— | —— | —— |
| --StageII | -36,005.87 | 36,005.87 | ||
| --StageIII | -68,767.63 | 68,767.63 | ||
| Currentprovision | -226,560.61 | -23,389.33 | 1,240,066.71 | 990,116.77 |
| Currentwrite-off | 58,099.48 | 58,099.48 | ||
| Otherchange | -17,021.80 | -17,021.80 | ||
| BalanceasatDecember31,2021 | 552,179.65 | 90,010.20 | 4,781,282.95 | 5,423,472.80 |
Changesinbookbalancewhoselossallowancechangedsignificantlyinthecurrentperiod
□Applicable√N/ADisclosurebyaging
InRMB
| Aging | Bookbalance |
| Within1year(including) | 22,643,068.31 |
| 1-2years | 10,623,515.77 |
| 2-3years | 4,424,096.03 |
| Over3years | 8,301,196.06 |
| 3-4years | 1,711,684.08 |
| 4-5years | 322,093.82 |
| Over5years | 6,267,418.16 |
| Total | 45,991,876.17 |
3)Provisions,recoveryorreversalofbaddebtsfortheperiod
Provisionsforbaddebtsmadeforthecurrentperiod
InRMB
| Category | Openingbalance | Changesforthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
| Provisionsforbaddebtsmadeindividually: | 1,761,342.83 | 106,200.00 | -6,812.94 | 1,860,729.89 | ||
| Provisionsforbaddebtsmadebygroup: | 2,747,134.48 | 1,228,298.72 | 344,381.95 | 58,099.48 | -10,208.86 | 3,562,742.91 |
| Total | 4,508,477.31 | 1,334,498.72 | 344,381.95 | 58,099.48 | -17,021.80 | 5,423,472.80 |
Significantrecoveryorreversalofprovisionsforbaddebtsforthecurrentperiod:
InRMB
| Entity | Amountofreversalorrecovery | Methodofrecovery |
4)Otherreceivablesactuallywrittenoffforthecurrentperiod
InRMB
| Item | Write-offamount |
| Otherreceivables | 58,099.48 |
Informationofsignificantotherreceivablesthatarewrittenoff:
InRMB
| Entity | Natureofotherreceivables | Write-offamount | Reasonforwrite-off | Write-offproceduresperformed | Whethertheamountarisesfromrelated-partytransactions |
Descriptionofthewrite-offofotherreceivables
5)Topfiveclosingbalancesofotherreceivablescategorizedbydebtor
InRMB
| Entity | Natureofotherreceivables | Closingbalance | Aging | Proportionoftotalclosingbalanceofotherreceivables | Closingbalanceofprovisionsforbaddebts |
| Thefirst | Amountduetoorfromrelatedparties | 2,629,764.69 | Over5years | 5.72% | 2,629,764.69 |
| Thesecond | Securitydeposit | 2,000,000.00 | 2-3years | 4.35% | |
| Thethird | Securitydeposit | 1,763,441.30 | Within1year | 3.83% | |
| Thefourth | Securitydeposit | 1,412,441.00 | Within1year,1-2years,2-3years,andmorethan5years | 3.07% | |
| Thefifth | Securitydeposit | 1,114,955.04 | 1-2years | 2.42% | |
| Total | -- | 8,920,602.03 | -- | 19.39% | 2,629,764.69 |
6)Otherreceivablesrelevanttogovernmentgrants
InRMB
| Entity | Nameofgovernmentgrants | Closingbalance | AgingbytheendoftheReportingPeriod | Estimateddateandamounttobereceivedandrelevantbasis |
7)Otherreceivablederecognizedduetotransferoffinancialassets
8)Amountofassetsandliabilitiesarisingfromtransferofotherreceivablesundercontinuinginvolvement
Otherdescriptions:
8.InventoriesDidtheCompanyneedtocomplywiththedisclosurerequirementsontherealestateindustry?No
(1)Categoriesofinventories
InRMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionfordeclineinvalueofinventoriesor | Carryingamount | Bookbalance | Provisionfordeclineinvalueofinventoriesor | Carryingamount | |
| forimpairmentofcontractperformancecosts | forimpairmentofcontractperformancecosts | |||||
| Rawmaterials | 153,715,792.31 | 153,715,792.31 | 110,321,511.87 | 110,321,511.87 | ||
| Workinprocess | 739,561,476.10 | 7,075,138.47 | 732,486,337.63 | 1,048,703,826.21 | 76,390,171.65 | 972,313,654.56 |
| Goodsonhand | 911,365,394.93 | 128,552,836.04 | 782,812,558.89 | 571,736,351.42 | 754,367.83 | 570,981,983.59 |
| Turnovermaterials | 756,248.01 | 756,248.01 | 796,365.36 | 796,365.36 | ||
| Goodsupondelivery | 19,775,763.95 | 19,775,763.95 | 5,911,092.71 | 5,911,092.71 | ||
| Total | 1,825,174,675.30 | 135,627,974.51 | 1,689,546,700.79 | 1,737,469,147.57 | 77,144,539.48 | 1,660,324,608.09 |
(2)Provisionfordeclineinvalueofinventoriesandforimpairmentofcontractperformancecosts
InRMB
| Item | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | ||
| Provision | Others | Reversalorwrite-off | Others | |||
| Workinprocess | 76,390,171.65 | 3,394,528.30 | 72,709,561.48 | 7,075,138.47 | ||
| Goodsonhand | 754,367.83 | 128,668,778.66 | 870,310.45 | 128,552,836.04 | ||
| Total | 77,144,539.48 | 132,063,306.96 | 73,579,871.93 | 135,627,974.51 | ||
AstotheCompany’sproductsdirectlyusedforsale,thenetrealizablevaluewasrecognizedby:theestimatedsellingpriceoftheinventoryminustheestimatedsellingexpensesandrelevanttaxes.Externalsaleshavebeenrealizedwithrespecttothecurrentwrite-offofprovisionfordeclineinvalueofinventories.TheCompany’sprovisionfordeclineinvalueofwork-in-progresswasreversedmainlybecausetheHerstory,atelevisionseriesthatwasreleasedfrombroadcastinglimitationandplayedinMangoTVonJanuary1,2022,eliminatingthefactorsaffectingoriginalprovisionfordeclineinvalue.
(3)Descriptionoftheclosingbalanceofinventoriescontainingthecapitalizedborrowingcosts
(4)Descriptionofthecurrentamortizationamountofcontractperformancecosts
9.Contractassets
InRMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | provisionforimpairment | Carryingamount | Bookbalance | provisionforimpairment | Carryingamount | |
| Operatorbusiness | 954,735,808.95 | 51,682,065.34 | 903,053,743.61 | 860,346,222.69 | 42,894,826.13 | 817,451,396.56 |
| Total | 954,735,808.95 | 51,682,065.34 | 903,053,743.61 | 860,346,222.69 | 42,894,826.13 | 817,451,396.56 |
Significantchangesinthecarryingamountofcontractassetsforthecurrentperiodandreasonstherefor:
InRMB
| Item | Changes | Reasonforchanges |
Ifaprovisionforbaddebtsismadeforcontractassetsinaccordancewiththegeneralmodelofexpectedcreditlosses,pleasediscloserelevantinformationonprovisionsforbaddebtswithreferencetothedisclosuremethodofotherreceivables.
□Applicable√N/AInformationoftheprovisionsforimpairmentmadeforcontractassetsfortheperiod
InRMB
| Item | Provision | Reversal | Write-off/eliminationfortheperiod | Reason |
| Operatorbusiness | 8,787,239.21 | Madebygroup | ||
| Total | 8,787,239.21 | -- |
Otherdescriptions:
10.Othercurrentassets
InRMB
| Item | Closingbalance | Openingbalance |
| Prepaymentsforinternetaccesscooperation | 8,462,851.39 | 19,816,194.13 |
| InputVATtobededucted | 101,052,683.66 | 87,304,605.69 |
| Prepaidtaxesandlevies | 6,281,520.53 | 2,425,615.08 |
| Issuedloans-creditloans[note] | 6,034,159.32 | |
| Issuedloans-mortgageloans[note] | 399,965,532.81 | |
| Others | 7,742,163.67 | 4,541,557.17 |
| Total | 123,539,219.25 | 520,087,664.20 |
Otherdescriptions:
[Note]Thedecreaseforthecurrentperiodiscausedbydisposalofasubsidiary,HunanHappyMoneyMicrofinanceCo.,Ltd.
11.Long-termequityinvestments
InRMB
| Investee | Openingbalance(carryingamount) | Increaseordecreasefortheperiod | Closingbalance(carryingamount) | Closingbalanceofprovisionfordiminutioninvalue | |||||||
| Additionalinvestment | Decreasedinvestment | Investmentprofitorlossunder | Adjustmentinothercomprehensi | Otherequitychanges | Declaredcashdividends | Provisionsforimpairment | Others | ||||
| equitymethod | veincome | orprofits | |||||||
| I.Jointventures | |||||||||
| II.Associates | |||||||||
| ShanghaiMammaMiaInteractiveEntertainmentTechnologyCo.,Ltd. | 22,882,969.51 | 999,547.86 | 23,882,517.37 | ||||||
| Sub-total | 22,882,969.51 | 999,547.86 | 23,882,517.37 | ||||||
| Total | 22,882,969.51 | 999,547.86 | 23,882,517.37 | ||||||
Otherdescriptions
12.Investmentproperties
(1)Investmentpropertiesmeasuredatcost
□Applicable√N/A
(2)Investmentpropertiesmeasuredatfairvalue
□Applicable√N/A
(3)Investmentpropertiesforwhichthetitlecertificatesarenotcompleted
InRMB
| Item | Carryingamount | Reasonforincompletionoftitlecertificate |
Otherdescriptions
13.Fixedassets
InRMB
| Item | Closingbalance | Openingbalance |
| Fixedassets | 184,450,336.98 | 186,924,296.25 |
| Total | 184,450,336.98 | 186,924,296.25 |
(1)Fixedassets
InRMB
| Item | Buildings | Machinesand | Electronic | Transportation | Others | Total |
| equipment | equipment,devicesandfurniture | equipment | ||||
| I.Originalcarryingamount: | ||||||
| 1.Openingbalance | 58,268,091.66 | 289,379,293.11 | 263,862,259.85 | 18,342,633.35 | 11,000,000.00 | 640,852,277.97 |
| 2.Increaseinthecurrentperiod | 6,851,007.50 | 35,209,853.33 | 405,462.57 | 42,466,323.40 | ||
| (1)Purchase | 6,851,007.50 | 35,209,853.33 | 405,462.57 | 42,466,323.40 | ||
| (2)Transferfromconstructioninprogress | ||||||
| (3)Increaseduetobusinesscombination |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 1,373,509.42 | 10,011,461.70 | 3,082,900.85 | 14,467,871.97 | ||
| (1)Disposalorretirement | 1,373,509.42 | 8,749,621.58 | 3,082,900.85 | 13,206,031.85 | ||
| Disposalofsubsidiaries | 1,261,840.12 | 1,261,840.12 | ||||
| 4.Closingbalance | 58,268,091.66 | 294,856,791.19 | 289,060,651.48 | 15,665,195.07 | 11,000,000.00 | 668,850,729.40 |
| II.Accumulateddepreciation | ||||||
| 1.Openingbalance | 10,689,869.24 | 241,076,753.84 | 189,960,862.55 | 11,802,395.27 | 453,529,880.90 | |
| 2.Increaseinthecurrentperiod | 1,908,705.36 | 14,611,705.27 | 25,376,899.51 | 1,325,798.19 | 43,223,108.33 | |
| (1)Provision | 1,908,705.36 | 14,611,705.27 | 25,376,899.51 | 1,325,798.19 | 43,223,108.33 |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 1,306,619.60 | 8,618,955.67 | 2,822,136.03 | 12,747,711.30 | ||
| (1)Disposalorretirement | 1,306,619.60 | 8,215,966.70 | 2,822,136.03 | 12,344,722.33 | ||
| Disposalofsubsidiaries | 402,988.97 | 402,988.97 | ||||
| 4.Closingbalance | 12,598,574.60 | 254,381,839.51 | 206,718,806.39 | 10,306,057.43 | 484,005,277.93 | |
| III.Provisionforimpairment | ||||||
| 1.Openingbalance | 391,088.27 | 7,012.55 | 398,100.82 | |||
| 2.Increaseinthe |
| currentperiod |
| (1)Provision |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 2,986.33 | 2,986.33 | ||
| (1)Disposalorretirement | 2,986.33 | 2,986.33 |
4.Closingbalance
| 4.Closingbalance | 391,088.27 | 4,026.22 | 395,114.49 | |||
| VI.Bookvalue | ||||||
| 1.Closingbalance | 45,669,517.06 | 40,083,863.41 | 82,337,818.87 | 5,359,137.64 | 11,000,000.00 | 184,450,336.98 |
| 2.Openingbalance | 47,578,222.42 | 47,911,451.00 | 73,894,384.75 | 6,540,238.08 | 11,000,000.00 | 186,924,296.25 |
(2)Fixedassetstemporarilyidle
InRMB
| Item | Cost | Accumulateddepreciation | Provisionforimpairment | Carryingamount | Remark |
(3)Fixedassetsleasedoutunderoperatinglease
InRMB
| Item | Closingbalance |
| Buildings | 23,382,792.73 |
| Machinesandequipment | 10,447,576.02 |
| Transportationequipment | 239,667.44 |
| Sub-total | 34,070,036.19 |
(4)Fixedassetsforwhichthetitlecertificatesarenotcompleted
InRMB
| Item | Carryingamount | Reasonforincompletionoftitlecertificate |
Otherdescriptions
(5)Disposaloffixedassets
InRMB
| Item | Closingbalance | Openingbalance |
Otherdescriptions
14.Rightofuseassets
InRMB
| Item | Buildings | Total |
| I.Originalcarryingamount: | ||
| 1.Openingbalance | 217,783,996.12 | 217,783,996.12 |
| 2.Increaseinthecurrentperiod | 46,617,118.66 | 46,617,118.66 |
| 1)Leasein | 46,617,118.66 | 46,617,118.66 |
| 3.Decreaseinthecurrentperiod | 2,318,188.53 | 2,318,188.53 |
| 2,318,188.53 | 2,318,188.53 | |
| 4.Closingbalance | 262,082,926.25 | 262,082,926.25 |
| II.Accumulateddepreciation | ||
| 1.Openingbalance | ||
| 2.Increaseinthecurrentperiod | 52,187,591.16 | 52,187,591.16 |
| (1)Provision | 52,187,591.16 | 52,187,591.16 |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 409,160.33 | 409,160.33 |
| (1)Disposal | 409,160.33 | 409,160.33 |
4.Closingbalance
| 4.Closingbalance | 51,778,430.83 | 51,778,430.83 |
| III.Provisionforimpairment | ||
| 1.Openingbalance | ||
| 2.Increaseinthecurrentperiod | ||
| (1)Provision |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | ||
| VI.Bookvalue | ||
| 1.Closingbalance | 210,304,495.42 | 210,304,495.42 |
| 2.Openingbalance | 217,783,996.12 | 217,783,996.12 |
Otherdescriptions:
[Note]Thedifferencesbetweentheopeningbalanceofthisyearandtheclosingbalanceofthepreviousyear(December31,2020)aredetailedinNoteV(31)tothefinancialstatements.
15.Intangibleassets
(1)Intangibleassets
InRMB
| Item | Landuserights | Patent | Non-patenttechnology | Filmandtelevisionseriescopyright | Software | Trademarksanddomainnames | Patentlicensingfeesandprogramadaptationrights | Gamecopyright | Total |
| I.Originalcarryingamount | |||||||||
| 1.Openingbalance | 33,157,507.40 | 16,948,218,630.49 | 201,934,240.24 | 3,168,013.16 | 40,660,377.35 | 7,189,504.61 | 17,234,328,273.25 | ||
| 2.Increaseinthecurrentperiod | 5,319,320,806.62 | 16,118,608.63 | 47,169.81 | 19,133,746.86 | 5,354,620,331.92 | ||||
| (1)Purchase | 5,319,320,806.62 | 80,872.78 | 47,169.81 | 17,697,395.82 | 5,337,146,245.03 | ||||
| (2)In-houseresearchanddevelopment | 16,037,735.85 | 16,037,735.85 | |||||||
| (3)Increaseduetobusinesscombinations | 1,436,351.04 | 1,436,351.04 |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 770,291,232.08 | 24,738,370.94 | 119,123.94 | 471,698.10 | 795,620,425.06 | |||
| (1)Disposal | 770,291,232.08 | 879,702.28 | 119,123.94 | 471,698.10 | 771,761,756.40 | |||
| (2)Disposalofsubsidiaries | 23,858,668.66 | 23,858,668.66 | ||||||
| 4.Closingbalance | 33,157,507.40 | 21,497,248,205.03 | 193,314,477.93 | 3,096,059.03 | 40,660,377.35 | 25,851,553.37 | 21,793,328,180.11 | |
| II.Accumulatedamortization | ||||||||
| 1.Openingbalance | 6,484,886.60 | 11,216,976,515.56 | 87,298,842.63 | 2,972,173.90 | 19,596,604.25 | 6,544,850.63 | 11,339,873,873.57 | |
| 2.Increaseinthecurrentperiod | 676,683.82 | 4,753,940,750.04 | 19,748,018.58 | 126,461.63 | 5,680,399.20 | 11,015,414.55 | 4,791,187,727.82 | |
| (1)Provision | 676,683.82 | 4,753,940,750.04 | 19,748,018.58 | 126,461.63 | 5,680,399.20 | 10,926,866.00 | 4,791,099,179.27 |
| 2)Increaseduetobusinesscombinations | 88,548.55 | 88,548.55 | ||||||
| 3.Decreaseinthecurrentperiod | 770,291,232.08 | 10,821,267.54 | 112,639.40 | 183,438.21 | 781,408,577.23 | |||
| (1)Disposal | 770,291,232.08 | 810,717.52 | 112,639.40 | 183,438.21 | 771,398,027.21 | |||
| 2)Disposalofsubsidiaries | 10,010,550.02 | 10,010,550.02 | ||||||
| 4.Closingbalance | 7,161,570.42 | 15,200,626,033.52 | 96,225,593.67 | 2,985,996.13 | 25,277,003.45 | 17,376,826.97 | 15,349,653,024.16 | |
| III.Provisionforimpairment | ||||||||
| 1.Openingbalance | ||||||||
| 2.Increaseinthecurrentperiod | ||||||||
| (1)Provision |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | ||||||||
| VI.Bookvalue | ||||||||
| 1.Closingbalance | 25,995,936.98 | 6,296,622,171.51 | 97,088,884.26 | 110,062.90 | 15,383,373.90 | 8,474,726.40 | 6,443,675,155.95 | |
| 2.Openingbalance | 26,672,620.80 | 5,731,242,114.93 | 114,635,397.61 | 195,839.26 | 21,063,773.10 | 644,653.98 | 5,894,454,399.68 |
ProportionofintangibleassetsgeneratedfromtheCompany’sin-houseresearchanddevelopmenttothebalanceofintangibleassetsattheendoftheperiod:0.18%.
(2)Landuserightforwhichthetitlecertificateisnotcompleted
InRMB
| Item | Carryingamount | Reasonforincompletionoftitlecertificate |
Otherdescriptions:
16.Developmentexpenditure
InRMB
| Item | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | ||||
| In-housedevelopmentexpenditure | Others | Recognizedintangibleassets | Transfertocurrentprofitorloss | Disposalofsubsidiaries | ||||
| Cloudplatformconstructionproject | 151,189,987.35 | 97,370,501.74 | 16,037,735.85 | 232,522,753.24 | ||||
| Smartcreditsystem | 6,074,244.50 | 6,074,244.50 | ||||||
| Total | 157,264,231.85 | 97,370,501.74 | 16,037,735.85 | 6,074,244.50 | 232,522,753.24 | |||
Otherdescriptions
MongoTVCloudStorageandMulti-ScreenBroadcastPlatformConstructionProject(“CloudPlatformConstructionProject”)isasupportingprojectfundedbyHappySunshinefinancingfunds.Thisproject,whichisintendedtoprovideenhancedplatformtechnologysupportforenterprisecontentproductionanddisseminationtoimproveusers’experienceandsatisfaction,reduceplatformoperatingcostsandenhanceplatformdatasecurityandreliability,isaninevitablechoiceforthestrategicdevelopmentofenterprisesinthefiercecompetition.
TheCloudPlatformConstructionProjectwasplannedin2017andimplementeduponapprovaloftheboardmeetingofHunantv.comonJuly30,2019.FromSeptember1,2019,theexpensesrelatedtotheprojectthatareeligibleforcapitalizationareincludedinthedevelopmentexpenses,andtheexpensesincurredinthepreviousresearchphasearedirectlyrecognizedinthecurrentprofitorloss.
17.Long-termprepaidexpenses
InRMB
| Item | Openingbalance | Increaseinthecurrentperiod | Amortization | Otherdecrease | Closingbalance |
| Projectsofrebuildinganddecorationforrentedbuildings | 77,342,051.99 | 56,801,478.08 | 19,340,593.74 | 955,455.12 | 113,847,481.21 |
| Total | 77,342,051.99 | 56,801,478.08 | 19,340,593.74 | 955,455.12 | 113,847,481.21 |
Otherdescriptions
18.Deferredtaxassets/deferredtaxliabilities
(1)Detailsofdeferredtaxassetsnotoffset
InRMB
| Item | Closingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredtaxassets | Deductibletemporarydifferences | Deferredtaxassets | |
(2)Detailsofdeferredtaxliabilitiesnotoffset
InRMB
| Item | Closingbalance | Openingbalance | ||
| Taxabletemporarydifferences | Deferredtaxliabilities | Taxabletemporarydifferences | Deferredtaxliabilities | |
(3)Deferredtaxassetsorliabilitiespresentedonanetbasis
InRMB
| Item | Closingoffsetamountbetweendeferredtaxassetsanddeferredtaxliabilities | Closingbalanceofdeferredtaxassetsorliabilitiesafteroffset | Openingoffsetamountbetweendeferredtaxassetsanddeferredtaxliabilities | Openingbalanceofdeferredtaxassetsorliabilitiesafteroffset |
(4)Detailsofunrecognizeddeferredtaxassets
InRMB
| Item | Closingbalance | Openingbalance |
| Deductibletemporarydifferences | 37,086,125.59 | 19,411,205.95 |
| Deductiblelosses | 453,456,947.42 | 106,310,201.58 |
| Total | 490,543,073.01 | 125,721,407.53 |
(5)Deductiblelosses,forwhichnodeferredtaxassetsarerecognized,willexpireinthefollowingyear
InRMB
| Year | Closingbalance | Openingbalance | Remark |
| 2021 | 390,483.62 | ||
| 2022 | 16,360,098.46 | 18,240,181.33 | |
| 2023 | 34,007,431.00 | 34,021,526.74 | |
| 2024 | 383,268.85 | 3,629,802.99 |
| 2025 | 40,704,936.96 | 50,028,206.90 | |
| 2026 | 362,001,212.15 | ||
| Total | 453,456,947.42 | 106,310,201.58 | -- |
Otherdescriptions:
19.Othernon-currentassets:
InRMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | provisionforimpairment | Carryingamount | Bookbalance | provisionforimpairment | Carryingamount | |
| Prepaymentsforequipment | 1,260,178.59 | 1,260,178.59 | 2,023,481.01 | 2,023,481.01 | ||
| Total | 1,260,178.59 | 1,260,178.59 | 2,023,481.01 | 2,023,481.01 | ||
Otherdescriptions:
20.Short-termborrowings
(1)Categoryofshort-termborrowings
InRMB
| Item | Closingbalance | Openingbalance |
| Creditborrowings-principal | 39,731,500.00 | 39,731,500.00 |
| Creditborrowings-interest | 55,403.37 | 57,610.68 |
| Total | 39,786,903.37 | 39,789,110.68 |
Descriptionsofcategorizationofshort-termborrowings:
(2)Short-termborrowingsoverduebutnotrepaid
Theshort-termborrowingsoverduebutnotrepaidamounttoRMB____attheendoftheReportingPeriod.Detailsofsignificantshort-termborrowingsoverduebutnotrepaidareasfollows:
InRMB
| Borrower | Closingbalance | Interestrate | Overdueperiod | Interestrateoverdue |
Otherdescriptions:
21.Notespayable
InRMB
| Category | Closingbalance | Openingbalance |
| Commercialacceptances | 349,649,263.65 | 221,862,982.11 |
| Bankacceptances | 571,855,441.26 | 490,429,053.64 |
| Total | 921,504,704.91 | 712,292,035.75 |
ThetotalofnotespayableduebutnotyetpaidfortheperiodisRMB0.00.
22.Accountspayable
(1)Accountspayable
InRMB
| Item | Closingbalance | Openingbalance |
| Paymentsforpurchaseofengineeringequipmentandgoods | 4,960,935,241.83 | 5,217,087,330.62 |
| Total | 4,960,935,241.83 | 5,217,087,330.62 |
(2)Significantaccountspayableagedoveroneyear
InRMB
| Item | Closingbalance | Reasonforfailuretoberepaidorcarriedforward |
| Thefirst | 93,447,650.88 | Notyetdueforsettlement |
| Thesecond | 71,520,170.79 | Notyetdueforsettlement |
| Thethird | 50,943,396.23 | Notyetdueforsettlement |
| Thefourth | 50,395,471.69 | Notyetdueforsettlement |
| Thefifth | 49,111,077.45 | Notyetdueforsettlement |
| Thesixth | 37,735,848.35 | Notyetdueforsettlement |
| Total | 353,153,615.39 | -- |
Otherdescriptions:
23.Contractliabilities
InRMB
| Item | Closingbalance | Openingbalance |
| Goodspayments | 551,341,131.10 | 663,307,479.05 |
| Investmentsinfilmandtelevisionseriesco-production | 103,960,965.03 | 146,186,845.74 |
| Membershipservice | 671,991,967.72 | 520,980,698.31 |
| Total | 1,327,294,063.85 | 1,330,475,023.10 |
SignificantchangesinthecarryingamountduringtheReportingPeriodandreasonstherefor:
InRMB
| Item | Changes | Reasonforchanges |
24.Employeebenefitspayable
(1)Employeebenefitspayable
InRMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Short-termremuneration | 856,456,598.89 | 1,780,202,983.13 | 1,657,443,964.04 | 979,215,617.98 |
| II.Post-employmentbenefits-definedbenefitplan | 65,780.84 | 42,702,391.48 | 42,209,123.21 | 559,049.11 |
| III.Terminationbenefits | 190,448.11 | 9,655,632.30 | 9,226,633.30 | 619,447.11 |
| Total | 856,712,827.84 | 1,832,561,006.91 | 1,708,879,720.55 | 980,394,114.20 |
(2)Short-termremuneration
InRMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| 1.Wagesorsalaries,bonuses,allowancesandsubsidies | 855,078,368.08 | 1,687,238,449.99 | 1,564,375,094.76 | 977,941,723.31 |
| 2.Employeewelfareexpenses | 34,106,373.31 | 34,100,093.31 | 6,280.00 | |
| 3.Socialsecuritycontributions | 319,371.91 | 26,362,981.40 | 26,402,482.13 | 279,871.18 |
| Including:Medicalinsurance | 310,028.34 | 20,825,143.55 | 20,875,943.19 | 259,228.70 |
| Work-relatedinjuriesinsurance | 2,291.19 | 1,402,236.11 | 1,391,456.58 | 13,070.72 |
| Maternityinsurance | 7,052.38 | 308,719.57 | 308,200.19 | 7,571.76 |
| Othercommercialinsurance | 3,826,882.17 | 3,826,882.17 | ||
| 4.Housingfunds | 324,675.23 | 28,408,412.49 | 28,547,196.72 | 185,891.00 |
| 5.Unionrunningcostsandemployeeeducation | 734,183.67 | 4,086,765.94 | 4,019,097.12 | 801,852.49 |
| cost | ||||
| Total | 856,456,598.89 | 1,780,202,983.13 | 1,657,443,964.04 | 979,215,617.98 |
(3)Definedbenefitplan
InRMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| 1.Basicpensions | 63,004.63 | 41,086,416.57 | 40,608,074.57 | 541,346.63 |
| 2.Unemploymentinsurance | 2,776.21 | 1,615,974.91 | 1,601,048.64 | 17,702.48 |
| Total | 65,780.84 | 42,702,391.48 | 42,209,123.21 | 559,049.11 |
Otherdescriptions:
25.Taxespayable
InRMB
| Item | Closingbalance | Openingbalance |
| VAT | 18,212,095.97 | 17,317,973.41 |
| Enterpriseincometax | 58,276.74 | 4,183,186.13 |
| PersonalIncomeTax | 12,409,994.97 | 17,925,339.96 |
| Citymaintenanceandconstructiontax | 1,082,825.71 | 422,228.46 |
| Stampduty | 2,101,365.54 | 2,395,805.75 |
| Educationsurcharges | 773,440.32 | 315,577.50 |
| Developmentfeeforculturalundertakings | 88,789,083.88 | 88,789,083.88 |
| Othertaxes | 47,506.59 | 178,690.86 |
| Total | 123,474,589.72 | 131,527,885.95 |
Otherdescriptions:
26.Otherpayables
InRMB
| Item | Closingbalance | Openingbalance |
| Otherpayables | 149,086,160.61 | 160,651,194.91 |
| Total | 149,086,160.61 | 160,651,194.91 |
(1)Interestpayable
InRMB
| Item | Closingbalance | Openingbalance |
Significantinterestoverduebutnotpaid
InRMB
| Borrower | Overdueamount | Reasonforoverdue |
Otherdescriptions:
(2)Dividendspayable
InRMB
| Item | Closingbalance | Openingbalance |
Otherdescriptions,includingthedisclosureofthereasonsforfailureofpaymentforsignificantdividendspayableunpaidoveroneyear.
(3)Otherpayables
1)Otherpayablesbynature
InRMB
| Item | Closingbalance | Openingbalance |
| Receivablesandpayables | 125,133,366.15 | 131,046,966.11 |
| Securitydeposit | 23,952,794.46 | 29,604,228.80 |
| Total | 149,086,160.61 | 160,651,194.91 |
2)Othersignificantpayablesagedoveroneyear
InRMB
| Item | Closingbalance | Reasonforfailuretoberepaidorcarriedforward |
| Thefirst | 3,795,949.15 | Notyetdueforsettlement |
| Total | 3,795,949.15 | -- |
Otherdescriptions
27.Non-currentliabilitiesduewithinoneyears
InRMB
| Item | Closingbalance | Openingbalance |
| Leaseliabilitiesduewithin1year | 43,098,562.04 | 48,596,782.45 |
| Total | 43,098,562.04 | 48,596,782.45 |
Otherdescriptions:
[Note]Thedifferencesbetweentheopeningbalanceofthisyearandtheclosingbalanceofthepreviousyear(December31,2020)aredetailedinNoteV(31)tothefinancialstatements.
28.Othercurrentliabilities
InRMB
| Item | Closingbalance | Openingbalance |
| Logisticsanddistributionexpenses | 2,219,436.05 | 1,909,886.62 |
| Outputtaxtobetransferred | 106,144,514.31 | 106,261,801.24 |
| Expensesforinternetaccesscooperation | 12,861,922.09 | 24,923,744.58 |
| Notesendorsedbutnotderecognized[note] | 210,748,000.00 | |
| Others | 7,061,685.54 | 5,603,393.15 |
| Total | 339,035,557.99 | 138,698,825.59 |
Changesinshort-termbondspayable:
InRMB
| Nameofbond | Parvalue | Issuedate | Termofbond | Issueamount | Openingbalance | Issuefortheperiod | Interestaccruedbasedonparvalue | Amortizationofpremiumsordiscounts | Repaymentfortheperiod | Closingbalance |
Total
| Total | -- | -- | -- |
Otherdescriptions:
[Note]Notesendorsedbutnotderecognizedarebankacceptancesofsmall-sizedcommercialbanksthathavebeenendorsedbutnotderecognizeattheendoftheReportingPeriod.
29.Leaseliabilities
InRMB
| Item | Closingbalance | Openingbalance |
| Leasedhousesandbuildings | 169,643,622.50 | 168,778,053.34 |
| Total | 169,643,622.50 | 168,778,053.34 |
Otherdescriptions
[Note]Thedifferencesbetweentheopeningbalanceofthisyearandtheclosingbalanceofthepreviousyear(December31,2020)aredetailedinNoteV(31)tothefinancialstatements.
30.Estimatedliabilities
InRMB
| Item | Closingbalance | Openingbalance | Reason |
| Pendinglitigation | 13,815,868.00 | 8,305,486.15 | Estimatedcompensationforpendinglitigation |
| Total | 13,815,868.00 | 8,305,486.15 | -- |
Otherdescriptions,includingimportantassumptionsandestimationexplanationsrelatedtosignificantestimatedliabilities:
31.Deferredincome
InRMB
| Item | Openingbalance | Increase | Decrease | Closingbalance | Reason |
| Governmentalgrants | 48,938,835.69 | 15,550,000.00 | 18,971,063.88 | 45,517,771.81 | Governmentgrantsrelatedtoassetsandincome |
| Total | 48,938,835.69 | 15,550,000.00 | 18,971,063.88 | 45,517,771.81 | -- |
Projectsinvolvinggovernmentgrants
InRMB
| Liabilities | Openingbalance | Additionalgovernmentgrants | Amountrecognizedinnon-operatingincome | Amountrecognizedinotherincome | Amountoffsetagainstcostsandexpenses | Otherchanges | Closingbalance | Relatedtoassets/income |
| Specialfundsforcultureindustrydevelopment | 18,493,278.47 | 5,000,000.00 | 3,549,291.66 | 19,943,986.81 | Relatedtoassets | |||
| SubsidyforYouthMangoNightProject | 7,333,333.33 | 3,000,000.00 | 1,600,000.00 | 8,733,333.33 | Relatedtoassets | |||
| MangoOfflineImmersionExperienceProject | 3,000,000.00 | 3,000,000.00 | Relatedtoassets | |||||
| HappigoSupplyChainUrbanCo-DistributionSystemProject | 2,483,002.83 | 100,000.00 | 2,383,002.83 | Relatedtoassets | ||||
| “ProjectInvestmentSupport”forMalanshanInvestmentInvitationandIndustryDevelopment | 2,400,000.00 | 107,998.94 | 2,292,001.06 | Relatedtoassets | ||||
| SpecialFundsforConstructionofInnovativeProvince | 2,000,000.00 | 2,000,000.00 | Relatedtoassets | |||||
| SpecialFundsforDevelopmentofMobile | 2,616,038.96 | 1,646,039.06 | 969,999.90 | Relatedtoassets |
| InternetIndustry | |||||||
| SpecialFundsforDevelopmentofModernLogistics | 975,558.74 | 40,229.22 | 935,329.52 | Relatedtoassets | |||
| Others | 960,918.81 | 150,000.00 | 276,933.97 | 833,984.84 | Relatedtoassets | ||
| FundsforGuidingDevelopmentofProvincialCultureUndertakings | 733,333.48 | 399,999.96 | 333,333.52 | Relatedtoassets | |||
| NetworkAudiovisualProgramQualityCreationandDisseminationProject | 186,000.00 | 72,000.00 | 114,000.00 | Relatedtoassets | |||
| SpecialFundsforDevelopmentofModernServices | 120,000.00 | 60,000.00 | 60,000.00 | Relatedtoassets | |||
| SecondSpecialFundsforDevelopmentofModernServices-MangoTVApp | 80,000.00 | 60,000.00 | 20,000.00 | Relatedtoassets | |||
| SilkRoadFilmandTelevisionBridgeProjectofStateAdministrationofRadio,Film,andTelevision | 566,037.74 | 566,037.74 | Relatedtoassets | ||||
| MangoTVInternationalMediaIntegrationandCommunicationProject | 4,000,000.00 | 1,940,200.00 | 2,059,800.00 | Relatedtoproceeds | |||
| SubsidyforGuidingDevelopmentofHunanCultureUndertakings | 1,241,333.33 | 284,000.00 | 957,333.33 | Relatedtoproceeds | |||
| MangoTVSmartHomePagePushProject | 1,000,000.00 | 233,333.33 | 766,666.67 | Relatedtoproceeds | |||
| MangoTVHigh-techInteractiveVideoCreationPlatformProject | 150,000.00 | 35,000.00 | 115,000.00 | Relatedtoproceeds | |||
| SecondSpecialFundsforDevelopmentofModernServicesofHunanProvince | 8,000,000.00 | 8,000,000.00 | Relatedtoproceeds |
| Sub-total | 48,938,835.69 | 15,550,000.00 | 18,971,063.88 | 45,517,771.81 |
Otherdescriptions:
32.Sharecapital
InRMB
| Openingbalance | Increaseordecrease(+,-) | Closingbalance | |||||
| Newshares | Bonusshares | Capitalizationofcapitalreserve | Others | Sub-total | |||
| Totalshares | 1,780,377,511.00 | 90,343,304.00 | 90,343,304.00 | 1,870,720,815.00 | |||
Otherdescriptions:
Inaccordancewithresolutionsofthe32ndmeetingandthe34thmeetingofthethirdsessionoftheBoardofDirectors,theresolutionofthe1stExtraordinaryGeneralMeetingof2020,andCSRC’sOfficialReplyonApprovingtheRegistrationofShareOfferingtoSpecialObjectsbyMangoExcellentMedia(ZhengJianXuKe[2021]No.2105),theCompanyisapprovedtoissuesharestospecificpersonsforraisingfundsnotexceedingRMB4.5billion.TheactualtotalamountoffundsraisedbytheCompanyisRMB4,499,999,972.24,withanetamountofRMB4,485,792,101.20afterdeductingunderwritingfees,attorney'sfees,capitalverificationandotherexpenses(excludingtax)totaledRMB14,207,871.04,inwhichRMB90,343,304.00isrecognizedinpaid-incapitalandRMB4,395,448,797.20isrecognizedincapitalreserve(equitypremium).Pan-ChinaCertifiedPublicAccountantsLLPhasmadeanauditforverificationofthisadditionalcapitalcontributionandissuedaCapitalVerificationReport(TianJianYan[2021]No.2-29)onAugust10,2021.
33.Capitalreserve
InRMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| Capitalpremium(Sharecapitalpremium) | 4,832,673,268.51 | 4,405,448,797.20 | 9,238,122,065.71 | |
| Othercapitalreserve | 6,264,437.84 | 6,264,437.84 | ||
| Total | 4,838,937,706.35 | 4,405,448,797.20 | 9,244,386,503.55 |
Otherdescriptions,includingchangesandreasonstherefor:
1)Theincreaseincapitalpremium(sharecapitalpremium)isduetothecapitalpremiumofRMB4,395,448,797.20resultingfromtheissuanceofsharesbytheCompanytospecificpersonsdetailedinNoteVII(I)32tothefinancialstatements.
2)In2021,theCompanyreceivedastate-ownedcapitalofRMB10,000,000.00fromculturalenterprisesunderprovincialadministration.
34.Othercomprehensiveincome
InRMB
| Item | Openingbalance | Amountforthecurrentperiod | Closingbalance | |||||
| Amountbeforeincome | Less:Amountincludedin | Less:Amountincludedin | Less:Income | Attributabletotheparent | Attributabletominority | |||
| taxforthecurrentperiod | othercomprehensiveincomeforthepriorperiodsandtransferredtotheprofitorlossforthecurrentperiod | othercomprehensiveincomeforthepriorperiodsandtransferredtotheretainedearningsforthecurrentperiod | taxexpenses | companyaftertax | interestsaftertax | |||
| II.Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | -2,759.37 | -11,023.81 | -11,023.81 | -13,783.18 | ||||
| Translationdifferencesoffinancialstatementsdenominatedinforeigncurrencies | -2,759.37 | -11,023.81 | -11,023.81 | -13,783.18 | ||||
| Totalofothercomprehensiveincome | -2,759.37 | -11,023.81 | -11,023.81 | -13,783.18 |
Otherdescriptions,includingadjustmentoftheeffectivepartofthecashflowhedgegainsandlossestransferredtoinitiallyrecognizedamountofhedgeditems:
35.Surplusreserve
InRMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| Statutorycapitalreserves | 87,139,560.14 | 17,885,823.15 | 105,025,383.29 | |
| Total | 87,139,560.14 | 17,885,823.15 | 105,025,383.29 |
Descriptionsofsurplusreserve,includingchangesforthecurrentperiodandreasonstherefor:currentincreaseofstatutorycapitalreservesisaccruedbasedon10%ofnetprofitsofparentcompany.
36.Undistributedprofit
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Undistributedprofitsattheendofpriorperiodbeforeadjustment | 3,881,526,167.30 | 2,079,761,680.01 |
| Undistributedprofitsatthebeginningoftheperiodafteradjustment | 3,881,526,167.30 | 2,079,761,680.01 |
| Add:Netprofitattributabletoownersoftheparentcompanyfortheperiod | 2,114,090,171.85 | 1,982,159,476.82 |
| Less:Appropriationtostatutorysurplusreserve | 17,885,823.15 | 2,357,238.43 |
| Dividendspayableforordinaryshares | 231,449,076.43 | 178,037,751.10 |
| Undistributedprofitsattheendoftheperiod | 5,746,281,439.57 | 3,881,526,167.30 |
Detailsofadjustmentstoundistributedprofitsatthebeginningoftheperiod:
1)UndistributedprofitsatthebeginningoftheperiodwereaffectedbyRMBduetotheretrospectiveadjustmentundertheAccountingStandardsforBusinessEnterprisesandrelatednewregulations.
2)UndistributedprofitsatthebeginningoftheperiodwereaffectedbyRMBduetochangesinaccountingpolicies.
3)UndistributedprofitsatthebeginningoftheperiodwereaffectedbyRMBduetothecorrectionofsignificantaccountingerrors.
4)UndistributedprofitsatthebeginningoftheperiodwereaffectedbyRMBduetochangesinthescopeofconsolidationresultingfrombusinesscombinationinvolvingenterprisesundercommoncontrol.
5)UndistributedprofitsatthebeginningoftheperiodwereaffectedbyRMBintotalduetootheradjustments.
37.Operatingincomeandoperatingcosts
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Principaloperatingactivities | 15,335,407,048.03 | 9,896,297,197.78 | 13,991,615,817.08 | 9,224,019,161.88 |
| Otheroperatingactivities | 20,456,434.04 | 9,165,573.04 | 13,919,138.28 | 6,269,482.56 |
| Total | 15,355,863,482.07 | 9,905,462,770.82 | 14,005,534,955.36 | 9,230,288,644.44 |
Whetherthelowerofthenetprofitafternon-recurringgainorlossisnegative
□Yes√NoInformationonRevenue:
InRMB
| CategoryofContract | Segment1 | Segment2 | Total | |
| Commoditytype | ||||
| Including: | ||||
| InternetvideobusinessofMangoTV | 11,261,249,957.21 | 11,261,249,957.21 | ||
| Newmediainteractiveentertainmentcontentproductionandoperation | 1,877,457,854.82 | 1,877,457,854.82 | ||
| ContentE-business | 2,157,213,530.01 | 2,157,213,530.01 | ||
| Others | 40,799,013.60 | 40,799,013.60 | ||
| Byoperatingregions | 15,336,720,355.64 | 15,336,720,355.64 | ||
| Including: | ||||
| WithinHunanprovince | 4,205,633,567.18 | 4,205,633,567.18 | ||
| OutsideHunanprovince | 11,131,086,788.46 | 11,131,086,788.46 | ||
| Typeofmarketorcustomer | 15,336,720,355.64 | 15,336,720,355.64 |
Including:
Typeofcontract
| Typeofcontract |
| Including: |
Bythetimeofcommoditytransfer
| Bythetimeofcommoditytransfer | |||
| Including: | |||
| Revenuerecognizedatacertaintimepoint | 9,206,687,860.72 | 9,206,687,860.72 | |
| Revenuerecognizedoveracertainperiodoftime | 6,130,032,494.92 | 6,130,032,494.92 | |
| Bythecontractterm | 15,336,720,355.64 | 15,336,720,355.64 | |
| Including: |
Bythesellingchannel
| Bythesellingchannel |
| Including: |
Total
Informationregardingperformanceobligations:
IncomesgeneratedfromcontractswithcustomersareRMB15,336,720,355.64.Informationregardingthetransactionpriceallocatedtotheremainingperformanceobligations:
TherevenuecorrespondingtotheperformanceobligationsforwhichthecontracthasbeensignedbuthasnotyetbeenperformedorfullyperformedattheendofthisReportingPeriodisRMB1,223,333,098.82,amongwhichRMBisexpectedtoberecognizedastherevenuein,RMBisexpectedtoberecognizedastherevenuein,andRMBisexpectedtoberecognizedastherevenuein.Otherdescriptions
38.Taxesandlevies
InRMB
TotalItem
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Consumptiontax | 178,896.89 | 280,585.49 |
| Citymaintenanceandconstructiontax | 12,005,462.97 | 10,756,920.01 |
| Educationsurcharges | 8,610,998.23 | 7,721,309.79 |
| Propertytax | 662,834.77 | 648,464.10 |
| Landuserights | 294,816.00 | 294,816.00 |
| Vehicleandvesseltax | 34,420.00 | 30,730.00 |
| Stampduty | 5,092,020.91 | 2,190,238.78 |
| Others | 13,040.75 | 54,686.31 |
| Total | 26,892,490.52 | 21,977,750.48 |
Otherdescriptions:
39.Sellingexpenses
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Employee’sbenefitsandlaborcosts | 732,215,078.75 | 649,713,450.73 |
| Depreciationandamortization | 12,874,964.32 | 11,258,434.02 |
| Advertisingcosts | 1,385,934,490.67 | 1,275,774,161.48 |
| Expensesforinternetaccesscooperation | 50,041,434.51 | 104,333,924.97 |
| Settlementcostsoflogisticsandservicechargesforpaymentcollection | 4,916,911.14 | 6,646,826.33 |
| Businesstravelexpenses | 27,363,866.16 | 24,555,943.68 |
| Programproductioncosts | 22,105,723.12 | 4,706,447.54 |
| Channelsalesandoperationsdevelopmentexpenses | 195,904,288.97 | 49,839,615.85 |
| Others | 37,971,455.00 | 37,586,465.27 |
| Total | 2,469,328,212.64 | 2,164,415,269.87 |
Otherdescriptions:
40.Generalandadministrativeexpenses
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Employee’sbenefitsandlaborcosts | 467,964,670.43 | 428,389,317.79 |
| Depreciationandamortization | 63,382,058.67 | 45,517,534.33 |
| Legalcosts | 11,964,048.12 | 12,643,454.90 |
| Officeandadministrativeservice | 104,503,482.74 | 90,263,227.76 |
| Agencyfees | 13,626,103.94 | 8,368,627.11 |
| Businessentertainmentexpenses | 2,749,458.11 | 2,567,649.76 |
| Others | 31,744,789.77 | 41,450,911.08 |
| Total | 695,934,611.78 | 629,200,722.73 |
Otherdescriptions:
41.Researchanddevelopmentexpenses
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Employee’sbenefitsandlaborcosts | 121,946,092.84 | 78,237,277.89 |
| Depreciationandamortization | 15,098,549.93 | 12,030,086.93 |
| Technicalservicefees | 129,004,804.77 | 88,241,580.19 |
| Others | 5,941,955.86 | 5,876,003.71 |
| Total | 271,991,403.40 | 184,384,948.72 |
Otherdescriptions:
42.Financialexpenses
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Interestexpenses | 2,630,663.17 | 13,770,536.66 |
| Less:interestincome | 125,145,189.95 | 116,608,027.78 |
| Financediscount | 238,406.56 | |
| Servicecharge | 16,108,222.86 | 16,999,003.73 |
| Interestexpensesfromleaseliabilities | 5,819,271.54 | |
| Foreignexchangegainsandlosses | -623,304.79 | -542,960.12 |
| Total | -101,210,337.17 | -86,619,854.07 |
Otherdescriptions:
43.Otherincome
InRMB
| Sourceofotherincome | Amountforthecurrentperiod | Amountforthepriorperiod |
| Governmentgrantsrelatedtoassets | 8,478,530.55 | 20,304,477.81 |
| Governmentgrantsrelatedtoincome | 27,521,238.14 | 29,158,039.45 |
| Refundofservicefeesofwithholdingpersonalincometax | 3,750,717.93 | 6,044,849.19 |
| AdditionalVATdeduction | 83,583,732.93 | 97,244,205.84 |
| Total | 123,334,219.55 | 152,751,572.29 |
44.Investmentincome
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Incomefromlong-termequityinvestmentsunderequitymethod | 999,547.86 | 1,742,610.53 |
| Incomefromdisposaloflong-termequityinvestments | 771,197.65 | 70,437,276.18 |
| Incomefrominvestmentsinfilmandtelevisionserieswithoutcopyrights | 1,193,136.19 | 4,706,280.41 |
| Incomefromwealthmanagementproducts | 34,265,617.23 | 3,906,349.28 |
| Total | 37,229,498.93 | 80,792,516.40 |
Otherdescriptions:
45.Impairmentlossesofcredit
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Baddebtlossesofotherreceivables | -990,116.77 | -1,273,395.96 |
| Baddebtlossesofaccountsreceivable | -40,907,026.53 | -49,083,327.37 |
| Othercurrentassets-lossesofimpairmentonissuedloans | -2,024,723.79 | -2,230,274.05 |
| Total | -43,921,867.09 | -52,586,997.38 |
Otherdescriptions:
46.Impairmentlossesofassets
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| I.Baddebtlosses | -21,417,042.28 | |
| II.Lossesfromdeclineinvalueofinventoriesandimpairmentofcontractperformancecosts | -59,299,155.29 | -2,171,659.78 |
| XII.Impairmentlossesofcontractualassets | -8,787,239.21 | -13,213,182.37 |
| Total | -68,086,394.50 | -36,801,884.43 |
Otherdescriptions:
47.Incomefromdisposalofassets
InRMB
| Sourceofincomefromdisposalofassets | Amountforthecurrentperiod | Amountforthepriorperiod |
| Incomefromdisposaloflong-termassets | -85,941.70 | 354,684.48 |
| Total | -85,941.70 | 354,684.48 |
48.Non-operatingincome
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod | Amountincludedinthenon-recurringprofitorlossforthecurrentperiod |
| Paymentunabletobemade | 1,994,903.35 | 3,249,641.40 | 1,994,903.35 |
| Incomefromsafeguardinglegalrights | 18,826,660.47 | 21,772,303.69 | 18,826,660.47 |
| Others | 1,028,932.95 | 1,864,339.26 | 1,028,932.95 |
| Total | 21,850,496.77 | 26,886,284.35 | 21,850,496.77 |
Governmentgrantsincludedinprofitandlossforthecurrentperiod
InRMB
| Project | Issuer | Reason | Nature | Ifthegrantsaffectearningsorlossesforthecurrentyear | Ifspecialgrants | Amountforthecurrentperiod | Amountforthepriorperiod | Relatedtoassets/income |
Otherdescriptions:
49.Non-operatingexpenses
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod | Amountincludedinthenon-recurringprofitorlossforthecurrentperiod |
| Outbounddonations | 2,046,319.26 | 2,576,237.35 | 2,046,319.26 |
| Lossesfromdamageandretirementofnon-currentassets | 183,897.04 | 736,201.04 | 183,897.04 |
| Compensationexpenditures | 20,277,175.00 | 26,032,164.94 | 20,277,175.00 |
| COVID-19-relatedexpenses | 19,931,072.18 | 15,627,676.21 | 19,931,072.18 |
| Others | 861,806.48 | 1,563,601.45 | 861,806.48 |
| Total | 43,300,269.96 | 46,535,880.99 | 43,300,269.96 |
Otherdescriptions:
50.Incometaxexpenses
(1)Tableofincometaxexpenses
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Currentincometaxexpenses | 4,357.00 | 7,411,218.58 |
| Total | 4,357.00 | 7,411,218.58 |
(2)Reconciliationofincometaxexpensestotheaccountingprofit
InRMB
| Item | Amountforthecurrentperiod |
| Totalprofit | 2,114,484,072.08 |
| Incometaxexpensecalculatedbasedonstatutory/applicabletaxrate | 528,621,018.02 |
| Effectofdifferenttaxratesofsubsidiariesoperatinginotherjurisdictions | -571,930,564.57 |
| Effectofadjustmentonincometaxfortheperiod | 4,357.00 |
| Effectofnon-taxableincome | -249,886.97 |
| Effectofnon-deductiblecost,expenseandloss | 281,227.53 |
| Effectofutilizingdeductiblelossnotrecognizedfordeferredtaxassetsforpriorperiod | -1,179,586.42 |
| Effectofdeductibletemporarydifferenceordeductiblelossnotrecognizedfordeferredtaxassetsforthecurrentperiod | 44,457,792.41 |
| Incometaxexpense | 4,357.00 |
Otherdescriptions
51.OthercomprehensiveincomeRefertonotefordetails.
52.Itemsinthecashflowstatement
(1)Othercashreceiptsrelatingtooperatingactivities
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Governmentalgrants | 32,578,704.81 | 72,405,901.23 |
| Interestincome | 125,145,189.95 | 116,608,027.78 |
| Incomefromsafeguardinglegalrights | 18,826,660.47 | 21,772,303.69 |
| Receivablesandpayablesandothers | 18,587,427.72 | 42,882,989.51 |
| Total | 195,137,982.95 | 253,669,222.21 |
Descriptionsofothercashreceiptsrelatingtooperatingactivities:
(2)Othercashpaymentsrelatingtooperatingactivities
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Paymentsofvariousexpenses | 1,920,961,411.48 | 1,721,402,373.87 |
| Bandservicecharges | 16,108,222.86 | 16,999,003.73 |
| Others | 58,023,952.39 | 48,836,058.38 |
| Total | 1,995,093,586.73 | 1,787,237,435.98 |
Descriptionsofothercashpaymentsrelatingtooperatingactivities:
(3)Othercashreceiptsrelatingtoinvestingactivities
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Recoveryofbankwealthmanagementproducts | 5,326,000,000.00 | 622,500,000.00 |
| Incomefromwealthmanagementproducts | 34,265,617.23 | 3,906,349.28 |
| Incomefrominvestmentsincopyrightswheretheinvestorhasnocopyrights | 1,193,136.18 | |
| Amountdueto/fromHappyMoney | 130,000,000.00 | |
| Total | 5,491,458,753.41 | 626,406,349.28 |
Descriptionsofothercashreceiptsrelatingtoinvestingactivities:
(4)Othercashpaymentsrelatingtoinvestingactivities
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Purchaseofwealthmanagementproducts | 8,736,000,000.00 | 622,500,000.00 |
| Total | 8,736,000,000.00 | 622,500,000.00 |
Descriptionsofothercashpaymentsrelatingtoinvestingactivities:
(5)Othercashreceiptsrelatingtofinancingactivities
InRMB
| Item | Amountincurredinthecurrentperiod | Amountincurredinthepriorperiod |
Descriptionsofothercashreceiptsrelatingtofinancingactivities:
(6)Othercashpaymentsrelatingtofinancingactivities
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Leasepayment | 64,826,084.84 |
| Paymentofintermediaryfinancingfees | 1,000,323.87 |
| Total | 65,826,408.71 |
Descriptionsofothercashpaymentsrelatingtofinancingactivities:
53.Supplementaryinformationtothecashflowstatement
(1)Supplementaryinformationtothecashflowstatement
InRMB
| Supplementaryinformation | Amountinthecurrentperiod | Amountinpriorperiod |
| 1.Reconciliationofnetprofittocashflowfromoperatingactivities: | -- | -- |
| Netprofit | 2,114,479,715.08 | 1,979,336,549.33 |
| Add:Provisionforimpairmentlossesofassets | 112,008,261.59 | 89,388,881.81 |
| Depreciationoffixedassets,depletionofoilandgasassets,depreciationofbearerbiologicalassets | 43,223,108.33 | 44,829,216.08 |
| Depreciationofrightofuseassets | 52,187,591.16 | |
| Amortizationofintangibleassets | 4,791,099,179.27 | 4,365,366,952.18 |
| Amortizationoflong-termprepaidexpenses | 19,340,593.74 | 25,691,871.99 |
| Lossesondisposaloffixedassets,intangibleassetsandotherlong-termassets(gainsareindicatedby“－”) | 85,941.70 | -354,684.48 |
| Lossesonretirementoffixedassets(gainsareindicatedby“－”) | 183,897.04 | 736,201.04 |
| Incomefromchangesinfairvalue(gainsareindicatedby“-”) | ||
| Financialexpenses(gainsareindicatedby“－”) | 7,826,629.92 | 13,227,576.54 |
| Investmentlosses(gainsareindicatedby“－”) | -37,229,498.93 | -80,792,516.40 |
| Decreaseindeferredtaxassets(increaseisindicatedby“－”) | ||
| Increaseindeferredtaxliabilities(decreaseisindicatedby“－”) | ||
| Decreaseininventories(increaseisindicatedby“－”) | -88,521,247.99 | 253,879,071.02 |
| Decreaseinreceivablesfromoperatingactivities(increaseisindicatedby“－”) | -1,337,314,454.99 | -1,256,428,867.09 |
| ]Increaseinpayablesfromoperatingactivities(decreaseisindicatedby“－”) | 203,751,973.07 | 500,793,311.24 |
| Others | -5,319,320,806.62 | -5,354,703,210.18 |
| Netcashflowsfromoperatingactivities | 561,800,882.37 | 580,970,353.08 |
| 2.Significantinvestingandfinancingactivitiesthatdonotinvolvecashreceiptsandpayments: | -- | -- |
| Conversionofdebtintocapital | ||
| Convertiblecorporatebondsduewithin1year | ||
| Fixedassetsunderfinancinglease | ||
| 3.Netchangesincashandcashequivalents: | -- | -- |
| Closingbalanceofcash | 6,911,377,914.18 | 5,314,463,484.01 |
| Less:openingbalanceofcash | 5,314,463,484.01 | 5,041,075,499.16 |
| Add:Closingbalanceofcashequivalents | ||
| Less:openingbalanceofcashequivalents | ||
| Netincreaseincashandcashequivalents | 1,596,914,430.17 | 273,387,984.85 |
(2)Netcashpaymentsforacquisitionofsubsidiariesinthecurrentperiod
InRMB
| Amount | |
| Cashorcashequivalentspaidforbusinesscombinationincurredinthecurrentperiod | 1,500,000.00 |
| Including: | -- |
| ShenzhenZhongheBoaoTechnologyDevelopmentCo.,Ltd. | 1,500,000.00 |
| Less:cashandcashequivalentsheldbysubsidiariesattheacquisitiondate | 13,019.91 |
| Including: | -- |
| ShenzhenZhongheBoaoTechnologyDevelopmentCo.,Ltd. | 13,019.91 |
| Including: | -- |
| Netcashpaymentforacquisitionofsubsidiaries | 1,486,980.09 |
Otherdescriptions:
(3)Netcashreceiptsfordisposalofsubsidiariesinthecurrentperiod
InRMB
| Amount | |
| Cashorcashequivalentsreceivedfromdisposalofsubsidiariesinthecurrentperiod | 304,249,700.00 |
| Including: | -- |
| HunanHappyMoneyMicrofinanceCo.,Ltd. | 304,249,700.00 |
| Less:cashandcashequivalentsheldbysubsidiariesatthedateoflosingcontrol | 58,689,802.33 |
| Including: | -- |
| HunanHappyMoneyMicrofinanceCo.,Ltd. | 58,689,802.33 |
| Including: | -- |
| Netcashreceiptsfromdisposalofsubsidiaries | 245,559,897.67 |
Otherdescriptions:
(4)Compositionofcashandcashequivalents
InRMB
| Item | Closingbalance | Openingbalance |
| I.Cash | 6,911,377,914.18 | 5,314,463,484.01 |
| Including:cashonhand | 42,803.61 | 86,976.40 |
| Bankdepositthatcanbepaidatanytime | 6,890,884,946.24 | 5,296,358,510.78 |
| Othermonetaryfundsthatcanbepaidatanytime | 20,450,164.33 | 18,017,996.83 |
| III.Closingbalanceofcashandcashequivalents | 6,911,377,914.18 | 5,314,463,484.01 |
Otherdescriptions:
54.Notestoitemsinthestatementofchangesinowners’equity
Descriptionofthenameof“other”itemwhoseclosingbalanceoftheprioryearhasbeenadjustedandtheamountadjusted:
55.Assetswithrestrictionsinownershiporuseright
InRMB
| Item | Closingbalance | Reasonforrestriction |
| Cashandbankbalances | 63,087,237.63 | Frozenamountsduetolitigation,POSdepositsandthird-partyplatformaccountdeposits |
| Notesreceivable | 210,748,000.00 | Commercialnotesendorsedbutnotmaturedyet |
| Total | 273,835,237.63 | -- |
Otherdescriptions:
56.Foreigncurrencyitem
(1)Foreigncurrencyitem
InRMB
| Item | Closingbalanceofforeigncurrency | Exchangerate | TranslatedbalanceinRMBattheendoftheperiod |
| Cashandbankbalances | -- | -- | 3,716,365.26 |
| Including:USD | 582,527.63 | 6.376 | 3,714,196.17 |
| EUR | 2,651.70 | 0.818 | 2,169.09 |
| HKD |
Accountsreceivable
| Accountsreceivable | -- | -- | 9,178,252.00 |
| Including:USD | 1,439,500.00 | 6.376 | 9,178,252.00 |
| EUR | |||
| HKD |
Long-termborrowings
| Long-termborrowings | -- | -- | |
| Including:USD | |||
| EUR | |||
| HKD | |||
| Accountspayable | 62,493,973.73 | ||
| Including:USD | 9,801,438.79 | 6.376 | 62,493,973.73 |
Otherdescriptions:
(2)Descriptionsofoverseasoperatingentities,includingdisclosureofthemainoverseasbusinesslocations,functionalcurrencyandthebasisforselectionofimportantoverseasoperatingentities,andthereasonsforchangesinfunctionalcurrency(ifany)
□Applicable√N/A
57.Governmentgrants
(1)Basicinformationofgovernmentgrants
InRMB
| Category | Amount | Lineitem | Amountincludedinprofitorlossforthecurrentperiod |
| Specialfundsforthedevelopmentoftheculturalindustry | 3,549,291.66 | Otherincome | 3,549,291.66 |
| YouthMangoNightprojectsubsidy | 1,600,000.00 | Otherincome | 1,600,000.00 |
| HappigoSupplyChainUrbanCo-DistributionSystemProject | 100,000.00 | Otherincome | 100,000.00 |
| “ProjectInvestmentSupport”forMalanshaninvestmentattractionandindustrialdevelopment | 107,998.94 | Otherincome | 107,998.94 |
| Mobileinternetindustrydevelopmentspecialfund | 1,646,039.06 | Otherincome | 1,646,039.06 |
| Specialfundsforthedevelopmentofthemodernlogistics | 40,229.22 | Otherincome | 40,229.22 |
| Other | 276,933.97 | Otherincome | 276,933.97 |
| Guidancefundsforprovincial-levelculturalindustrydevelopment | 399,999.96 | Otherincome | 399,999.96 |
| Networkaudio-visualprogramqualitycreationanddistributionproject | 72,000.00 | Otherincome | 72,000.00 |
| Specialfundsforthedevelopmentofmodernservices | 60,000.00 | Otherincome | 60,000.00 |
| Thesecondbatchofspecialfundsformodernservicesdevelopment-MangoTVmobileclient | 60,000.00 | Otherincome | 60,000.00 |
| SilkRoadFilmandTelevisionBridgeProjectoftheStateAdministrationofRadio,FilmandTelevision | 566,037.74 | Otherincome | 566,037.74 |
| MangoTVinternationalconvergencemediacommunicationproject | 1,940,200.00 | Otherincome | 1,940,200.00 |
| GuidancefundsubsidiesforculturalbusinessofHunanProvince | 284,000.00 | Otherincome | 284,000.00 |
| MangoTVsmarthomepagepushproject | 233,333.33 | Otherincome | 233,333.33 |
| MangoTVhigh-techinteractivevideocreationplatformproject | 35,000.00 | Otherincome | 35,000.00 |
| ThesecondbatchofspecialfundsforthedevelopmentofmodernservicesinHunanProvince | 8,000,000.00 | Otherincome | 8,000,000.00 |
| AwardsforenterprisesinMalanshanCulturalandCreativeIndustrialPark | 3,984,000.00 | Otherincome | 3,984,000.00 |
| Culturalserviceexportawardsfromcentralspecialfundsforculturalindustrydevelopmentin2021 | 1,750,000.00 | Otherincome | 1,750,000.00 |
| Subsidyfundfortraininginwork | 1,163,500.00 | Otherincome | 1,163,500.00 |
| Bonusfororiginalcreativeinnovationworks | 1,060,000.00 | Otherincome | 1,060,000.00 |
| Projectsubsidyandrewardfund | 1,459,811.27 | Otherincome | 1,459,811.27 |
| Financialsupportfunds | 877,679.25 | Otherincome | 877,679.25 |
| AwardsforeconomicdevelopmentofKaifuDistrict | 856,000.00 | Otherincome | 856,000.00 |
| Specialfundfordevelopmentofe-commerceindustry | 820,000.00 | Otherincome | 820,000.00 |
| SpecialawardsfromChangshaMunicipalGovernment | 690,000.00 | Otherincome | 690,000.00 |
| “ProjectInvestmentSupport”forMalanshaninvestmentattractionandindustrialdevelopment | 600,000.00 | Otherincome | 600,000.00 |
| Jobstabilizationsubsidy | 595,328.61 | Otherincome | 595,328.61 |
| Specialfundforserviceoutsourcingindustry | 560,000.00 | Otherincome | 560,000.00 |
| Innovationreward | 550,000.00 | Carrying | 550,000.00 |
| forwardtothecurrentperiod | |||
| Thesixthnetworkoriginalaudiovisualprogramcompetitionaward | 405,660.38 | Lineitem | 405,660.38 |
| Subsidiesforelectricityrelatedtooutbreak | 400,886.89 | Otherincome | 400,886.89 |
| Guidingfundsforhigh-qualitydevelopmentofbusinesseconomyinChaoyangDistrict | 300,000.00 | Otherincome | 300,000.00 |
| 2020economicdevelopmentincentives | 250,000.00 | Otherincome | 250,000.00 |
| Financinginnovationevaluationfunds | 250,000.00 | Otherincome | 250,000.00 |
| Economicdevelopmentincentives | 211,000.00 | Otherincome | 211,000.00 |
| Other | 244,838.41 | Otherincome | 244,838.41 |
(2)Returnofgovernmentgrants
□Applicable√N/AOtherdescriptions:
58.OthersVIII.ChangesinScopeofConsolidation
1.Businesscombinationinvolvingenterprisesnotundercommoncontrol
(1)Businesscombinationsinvolvingenterprisesnotundercommoncontrol
InRMB
| Nameoftheacquiree | Timepointofacquiringequity | Costofequityacquisition | Ratioofequityacquired | Methodofacquiringequity | Acquisitiondate | Basisofdeterminingtheacquisitiondate | Incomeoftheacquireefromtheacquisitiondatetotheendoftheperiod | Netprofitoftheacquireefromtheacquisitiondatetotheendoftheperiod |
| ShenzhenZhongheBoaoTechnologyDevelopmentCo.,Ltd. | May18,2021 | 1,500,000.00 | 100.00% | Acquisition | May31,2021 | Theindustrialandcommercialchangeprocedureshavebeencompletedandthepaymentfor | 186,325.12 | 137,300.68 |
Otherdescriptions:
(2)Combinationcostandgoodwill
InRMB
equityhasbeenmadeCombinationcost
| Combinationcost | |
| --Cash | 1,500,000.00 |
| --Fairvalueofassetsotherthancash | |
| --Fairvalueofdebtsissuedorassumed | |
| --Fairvalueofequitysecuritiesissued | |
| --Fairvalueofcontingentconsideration | |
| --Fairvalueofequitiesheldbeforetheacquisitiondateontheacquisitiondate | |
| --Others | |
| Totalcombinationcosts | 1,500,000.00 |
| Less:Fairvalueofidentifiablenetassetsacquired | 1,439,370.54 |
| Goodwill/differencebetweenthelowercombinationcostsandthefairvalueofidentifiablenetassets |
Descriptionsofthemethodfordeterminingthefairvalueofcombinationcost,contingentconsiderationandchangestherein:
Note:ThedifferenceofRMB60,629.46betweenthecombinationcostsandthefairvalueofidentifiablenetassetsacquiredrepresentstheamortizationamountoftheassetsfromtheevaluationbasedatetotheacquisitiondate,whichhasbeenincludedinthecurrentprofitorlossonthedateofcombination.Mainreasonsfortheformationofsubstantialgoodwill:
Otherdescriptions:
(3)Identifiableassetsandliabilitiesoftheacquireeontheacquisitiondate
InRMB
| Fairvalueontheacquisitiondate | Carryingamountontheacquisitiondate | |
| Assets: | 1,449,370.95 | 13,019.91 |
| Cashandbankbalances | 13,019.91 | 13,019.91 |
| Accountsreceivable | ||
| Inventories | ||
| Fixedassets | ||
| Intangibleassets | 1,436,351.04 |
| Liabilities: | 10,000.41 | 10,000.41 |
| Borrowings | ||
| Accountspayable | 10,000.41 | 10,000.41 |
| Deferredtaxliabilities |
Netassets
| Netassets | 1,439,370.54 | 3,019.50 |
| Less:Minorityinterests | ||
| Netassetsacquired | 1,439,370.54 | 3,019.50 |
Methodfordeterminingthefairvalueofidentifiableassetsandliabilities:
Allshareholders’equityinShenzhenZhongheBoaoTechnologyDevelopmentCo.,Ltd.acquiredbytheCompanyhasbeenevaluatedbyCareaAssetAppraisalCo.,Ltd.whohasissuedanappraisalreportKaiYuanPingBaoZi2020(No.035)therefor.Contingentliabilitiesoftheacquireeundertakeninbusinesscombination:
Otherdescriptions:
(4)Gainsorlossesarisingfromre-measurementofequityheldbeforetheacquisitiondateatfairvalueWhetherthereisabusinesscombinationrealizedthroughmultipletransactionsbystepswithcontrolobtainedduringthereportingperiod
□Yes√No
(5)Descriptionsofinabilitytoreasonablydeterminethecombinationconsiderationorthefairvalueofidentifiableassetsandliabilitiesoftheacquireeontheacquisitiondateorattheendofthecorrespondingperiod
(6)Otherdescriptions
2.Businesscombinationinvolvingenterprisesundercommoncontrol
(1)Businesscombinationinvolvingenterprisesundercommoncontrolinthecurrentperiod
InRMB
| Nameofthecombinedparty | Proportionofequityacquiredinbusinesscombination | Basisofconstitutingbusinesscombinationinvolvingenterprisesundercommoncontrol | Combinationdate | Basisofdeterminingthecombinationdate | Incomeofthecombinedpartyfromthebeginningoftheperiodinwhichthecombinationfallstothedateof | Netprofitofthecombinedpartyfromthebeginningoftheperiodinwhichthecombinationfallstothedateof | Incomeofthecombinedpartyduringthecomparisonperiod | Netprofitofthemergedpartyduringthecomparisonperiod |
| combination | combination |
Otherdescriptions:
3.Reversepurchase
Basicinformationofthetransaction,basisforthetransactiontoconstituteareversepurchase,whetherassetsandliabilitiesretainedbythelistedcompanyconstitutebusinessesandthebasistherefor,determinationofconsolidationcosts,amountofadjustmentstoequityincaseofequitytransactionsandthecalculationthereof:
4.Disposalofsubsidiaries
Whethertherewasanycircumstanceunderwhichasingledisposaloftheinvestmentinsubsidiariesledtocontrolloss
√Yes□No
InRMB
| Nameofsubsidiary | Proceedsfromdisposal | Disposalproportion(%) | Methodofdisposal | Timeoflosingcontrol | Basisforestablishingthetimeoflosingcontrol | Differencebetweenthedisposalpriceandthesharesofnetassetsofthesubsidiarycorrespondingtodisposalofinvestmentsintheconsolidatedfinancialstatements | Proportionofremainingequityonthedateoflosingcontrol(%) | Carryingamountofremainingequityonthedateoflosingcontrol | Fairvalueofremainingequityonthedateoflosingcontrol | Gainsorlossesarisingfromre-measurementofremainingequityatthefairvalue | Methodsofdeterminingfairvalueofremainingequityonthedateoflosingcontrolandmainassumptions | Amounttransferredfromothercomprehensiveincomerelatedtoinitialequityinvestmentinthesubsidiarytoinvestmentincomeorloss |
| HunanHappyMoneyMicrofinanceCo.,Ltd. | 304,249,700.00 | 100.00% | Sale | May31,2021 | Receiptofthetransferfund | 770,697.17 | 0.00% | 0.00 | 0.00 | 0.00 | N/A | 0.00 |
Otherdescriptions:
Whetherthereisadisposalofinvestmentinasubsidiarythroughmultipletransactionsbystepswithlossofcontroloverthesubsidiaryinthecurrentperiod
□Yes√No
5.Changesinthescopeofcombinationforotherreasons
Descriptionsofchangesinthescopeofcombinationforotherreasons(suchasestablishmentofanewsubsidiaryandliquidationofasubsidiary,etc.)andtherelevantinformation:
1.Increaseinthescopeofcombination
| Companyname | Methodof | Timepointofacquiring | Capitalcontribution | Proportionof |
| acquiringequity | equity | contribution | ||
| HainanE.E.MediaCo.,Ltd. | Establishment | June30,2021 | 30,000,000.00 | 100.00% |
| ShanghaiMangoUniverseCultureandEntertainmentCo.,Ltd. | Establishment | December13,2021 | 10,000,000.00 | 100.00% |
2.Decreaseinthescopeofcombination
| Companyname | Methodofdisposingequity | Timepointofdisposingequity |
| Happigo(Beijing)NewMediaTechnologyCo.,Ltd. | Deregistration | April12,2021 |
| HangzhouHemeiInteractiveEntertainmentTechnologyCo.,Ltd. | Deregistration | July19,2021 |
6.Others
IX.InterestsinOtherEntities
1.Interestsinsubsidiaries
(1)Compositionofenterprisegroup
| Nameofsubsidiary | Mainbusinessplace | Registeredaddress | Businessnature | Shareholdingratio | Methodofacquisition | |
| Direct | Indirect | |||||
| ShanghaiHappigoEnterpriseDevelopmentCo.,Ltd. | Shanghai | Shanghai | Commerce | 100.00% | Establishment | |
| ShanghaiHappivisionAdvertisingCommunicationCo.,Ltd. | Shanghai | Shanghai | Commerce | 100.00% | Establishment | |
| DougCloudBusiness(Hunan)TradeLimitedLiabilityCompany | Changsha | Changsha | Commerce | 100.00% | Establishment | |
| MangoLife(Hunan)E-commerceLimitedLiabilityCompany | Changsha | Changsha | Commerce | 100.00% | Establishment | |
| Happigo(Hunan) | Changsha | Changsha | Storage | 100.00% | Business | |
| SupplyChainManagementCo.,Ltd. | combinationinvolvingenterprisesnotundercommoncontrol | |||||
| ShanghaiMeimiTradeCo.,Ltd. | Shanghai | Shanghai | Commerce | 100.00% | Establishment | |
| DameirenGlobalTradingCo.,Limited | Shanghai | HongKong | Commerce | 100.00% | Establishment | |
| HunanMangoAutoAutomobileSalesCo.,Ltd. | Changsha | Changsha | Commerce | 51.00% | Establishment | |
| HappigoCo.,Ltd. | Changsha | Changsha | Commerce | 100.00% | Establishment | |
| HunanHappySunshineInteractiveEntertainmentMediaCo.,Ltd. | Changsha | Changsha | Video | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| MangoEntertainmentCo.,Ltd | Changsha | Changsha | Film&Television | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| MangoStudiosCo.,Ltd. | Changsha | Changsha | Film&Television | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| ShanghaiMangofunTechnologyCo.,Ltd. | Shanghai | Shanghai | Game | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| ShanghaiEE-MediaCo.,Ltd. | Shanghai | Shanghai | Film&Television | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| ZhejiangDongyangTianyu | Zhejiang | Zhejiang | Film&Television | 100.00% | Businesscombination |
| FilmandTelevisionCultureCo.Ltd. | involvingenterprisesundercommoncontrol | |||||
| HunanTianyuFilmandTelevisionProductionCo.Ltd. | Changsha | Changsha | Film&Television | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| BeijingSuperVocalCultureCo.Ltd. | Beijing | Beijing | Music | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| HainanE.E.MediaCo.,Ltd. | Hainan | Hainan | Culturemedia | 100.00% | Establishment | |
| BeijingHappyMangoCultureMediaCo.,Ltd. | Beijing | Beijing | Culturemedia | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| HorgosHappySunshineMediaCo.,Ltd. | Horgos | Horgos | Culturemedia | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| HunanHappyMangofunTechnologyCo.,Ltd. | Changsha | Changsha | Game | 100.00% | Businesscombinationinvolvingenterprisesundercommoncontrol | |
| ShanghaiMangoUniverseCultureandEntertainmentCo.,Ltd. | Shanghai | Shanghai | Game | 100.00% | Establishment | |
| HappySunshineXingmangInteractiveEntertainmentMediaCo.,Ltd. | Haikou | Haikou | Commerce | 100.00% | Establishment | |
| HappySunshineHongmang | Changsha | Changsha | Commerce | 100.00% | Establishment |
| EducationTechnologyCo.,Ltd. | ||||||
| XiaomangElectronicCommerceCo.,Ltd. | Changsha | Changsha | Commerce | 100.00% | Establishment | |
| Mgtv.com(HongKong)MediaCompanyLimited | HongKong | HongKong | Commerce | 100.00% | Establishment | |
| ShenzhenZhongheBoaoTechnologyDevelopmentCo.,Ltd. | Changsha | Shenzhen | Game | 100.00% | Businesscombinationinvolvingenterprisesnotundercommoncontrol |
Descriptionsofthedifferencebetweentheshareholdingratioandtheproportionofvotingrightsinasubsidiary:
Basisforholdinghalfofthevotingrightsorbelowbutstillcontrollingtheinvestee,andholdingoverhalfofthevotingrightbuthavingnocontrolovertheinvestee:
Basisforcontrolsoversignificantstructuredentitiesincludedinconsolidationscope:
BasisfordeterminingtheCompanyastheagentortheprincipal:
Otherdescriptions:
(2)Significantnon-whollyownedsubsidiaries
InRMB
| Nameofsubsidiary | Shareholdingratiobyminorityshareholders | Profitorlossattributabletominorityinterestsforthecurrentperiod | Dividendsdeclaredfordistributiontominorityshareholdersforthecurrentperiod | Closingbalanceofminorityinterests |
| HunanMangoAutoAutomobileSalesCo.,Ltd. | 49.00% | 448,680.70 | 30,763,885.84 |
Descriptionsofthedifferencebetweentheshareholdingratioofminorityshareholdersandtheirproportionofvotingrightsinasubsidiary:
Otherdescriptions:
(3)Keyfinancialinformationofsignificantnon-whollyownedsubsidiaries
InRMB
| Nameofsubsidiary | Closingbalance | Openingbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| HunanMangoAutoAutomobileSalesCo.,Ltd. | 278,910,162.12 | 20,051,233.70 | 298,961,395.82 | 230,291,484.49 | 5,886,470.82 | 236,177,955.31 | 95,213,439.53 | 13,358,862.09 | 108,572,301.62 | 46,704,536.01 | 46,704,536.01 | |
InRMB
| Nameofsubsidiary | Amountforthecurrentperiod | Amountforthepriorperiod | ||||||
| Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | |
| HunanMangoAutoAutomobileSalesCo.,Ltd. | 1,008,991,707.33 | 915,674.90 | 915,674.90 | -50,575,124.22 | 735,524,869.05 | 1,022,763.58 | 1,022,763.58 | -39,939,680.60 |
Otherdescriptions:
(4)Significantrestrictionsontheuseofenterprisegroupassetsandsettlementofenterprisegroupdebts
(5)FinancialsupportsorothersupportsofferedforthestructuredentitiesincludedinthescopeofconsolidatedfinancialstatementsOtherdescriptions:
2.Transactionsthroughwhichtheshareoftheowner’sequityinthesubsidiaryhaschangedandthecontrolonthesubsidiaryisstillmaintained
(1)Descriptionsofchangesintheshareofowner’sequityinthesubsidiary
3.Interestsinjointventuresorassociates
(1)Summaryoffinancialinformationofinsignificantjointventuresandassociates
InRMB
| Closingbalance/Amountforthecurrentperiod | Openingbalance/Amountforthepriorperiod |
| Jointventures | -- | -- |
| Totalofthefollowingitemscalculatedbasedontheshareholdingratio | -- | -- |
| Associates: | -- | -- |
| Totalcarryingamountofinvestment | 23,882,517.37 | 22,882,969.51 |
| Totalofthefollowingitemscalculatedbasedontheshareholdingratio | -- | -- |
| --Netprofit | 999,547.86 | 1,742,610.53 |
| --Totalcomprehensiveincome | 999,547.86 | 1,742,610.53 |
Otherdescriptions
(2)DescriptionsofsignificantrestrictionsontheabilityofjointventuresorassociatestotransferfundstotheCompany
(3)Unrecognizedcommitmentsrelatedtoinvestmentsinjointventures
(4)Contingentliabilitiesrelatedtoinvestmentsinjointventuresorassociates
4.Significantjointoperations
| Nameofjointoperation | Principaloperationplace | Registrationplace | Businessnature | Shareholdingratio/share | |
| Direct | Indirect | ||||
Descriptionofdifferencebetweenshareholdingratioorshareandvotingrightratioinjointoperation:
Thebasisforclassifyingaseparateentityasajointoperation,ifapplicable:
Otherdescriptions
5.Interestsinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements
Descriptionsofstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements:
6.OthersX.RisksRelatedtoFinancialInstruments
TheCompany’sriskmanagementobjectivesaretoachieveaproperbalancebetweenrisksandyield,minimizetheadverseimpactsofrisksontheCompany’soperationperformance,andmaximizethebenefitsoftheshareholdersandotherstakeholders.Basedontheseriskmanagementobjectives,theCompany’sbasicriskmanagementstrategyistoidentifyandanalyzeitsexposuretovariousrisks,establishanappropriatemaximumtolerancetorisk,implementriskmanagement,andmonitorregularlyandeffectivelytheseexposurestoensuretherisksaremonitoredatacertainlevel.
TheCompanyisexposedtovariousrisksassociatedwithfinancialinstrumentsinitsdailyroutines,primarilyincludingcreditrisk,liquidityriskandmarketrisk.Themanagementhasreviewedandapprovedpoliciestomanagetheserisks,summarizedasbelow.
(I)CreditriskCreditriskreferstotheriskthatapartyofthefinancialinstrumentwilldefaultonitsobligationsresultinginfinanciallosstothecounterparty.
1.Managementofcreditrisk
(1)EvaluationofcreditTheCompanyassessesateachbalancesheetdatewhetherthecreditriskoftheunderlyingfinancialinstrumentshasincreasedsignificantlysinceinitialrecognition.Indeterminingwhetherthecreditriskhasincreasedsignificantlysinceinitialrecognition,theCompanyconsidersreasonableandsupportableinformationthatisavailablewithoutunduecostoreffort,includingquantitativeandqualitativeanalysisbasedonhistoricaldata,rankingofexternalcreditrisksandforward-lookinginformation.TheCompanycomparestheriskofadefaultoccurringonafinancialinstrumentasatthebalancesheetdatewiththeriskofadefaultoccurringonthefinancialinstrumentasatthedateofinitialrecognitionbasedonindividualfinancialinstrumentoragroupoffinancialinstrumentswithsimilarcreditriskcharacteristic,todeterminethechangeoftheriskofadefaultoccurringonafinancialinstrumentovertheexpectedlife.
TheCompanyconsidersthecreditriskoffinancialinstrumentshasincreasedsignificantlywhenoneormoreofthefollowingquantitativeandqualitativecriteriaaremet:
1)Thequantitativecriterionprimarilyreferstoacertainpercentageofincreaseintheprobabilityofdefaultovertheremaininglifeofthefinancialinstrumentsasofthebalancesheetdatewhencomparingwiththatatinitialrecognitionofthefinancialinstruments;
2)Thequalitativecriteriaincludes,interalia,adversematerialchangesinbusinessorfinancialconditionsthatareexpectedtocauseasignificantdecreaseinthedebtor’sabilitytomeetitsdebtobligations,andanactualorexpectedsignificantadversechangeinthetechnological,market,economic,orlegalenvironmentofthedebtorthatresultsinasignificantdecreaseinthedebtor’sabilitytomeetitsdebtobligations;
(2)Definitionofdefaultedorcredit-impairedassets
Afinancialassetisdefinedasdefaultedwhenthefinancialinstrumentmeetsoneormoreconditionsstatedasbelow,andthecriteriaofdefiningdefaultedassetisconsistentwiththethatofdefiningcredit-impairedasset:
1)significantfinancialdifficultyofthedebtor;
2)abreachofcontracttermswithbindingforcebythedebtor;
3)itisbecomingprobablethattheborrowerwillenterbankruptcyorotherfinancialreorganization;
4)thecreditorofthedebtor,foreconomicorcontractualreasonsrelatingtothedebtor’sfinancialdifficulty,hasgrantedtothedebtoraconcession(s)thatthecreditorwouldnototherwiseconsider.
2.Measurementofexpectedcreditloss(“ECL”)
KeyparameterstomeasureECLincludetheprobabilityofdefault,lossgivendefaultandtheexposureatdefault.TheCompanyestablishedmodelsoftheprobabilityofdefault,lossgivendefaultandtheexposureatdefaultonthebasisofqualitativeanalysisonhistoricalstatisticaldata(suchascounterpartyranking,guaranteemethods,collateralcategory,andrepaymentway)andforward-lookinginformation.
3.DetailsofreconciliationoftheopeningbalanceandtheclosingbalanceofprovisionforimpairmentoffinancialinstrumentscanbereferredtoinNoteVII(I)4,7and9tothefinancialstatementshereof.
4.Creditriskexposureandcreditriskconcentration
TheCompany'screditriskisprimarilyfromcashandbankbalancesandreceivables.Inordertocontroltherisksassociatedwithaforementioneditems,theCompanyhastakenthefollowingmeasures.
(1)Cashandbankbalances
ThecreditriskoftheCompanyislimitedbecausetheCompanyhasdepositedbankdepositsandothermonetaryfundsinbankswithhighcreditratings.
(2)Receivables
TheCompanycontinuallyevaluatesthecreditworthinessofitscustomerswithdealsoncredit,andselectstodealwithapprovedandcreditworthycustomerssubjecttotheresultsofthecreditassessmentwithmonitoringthebalanceofitsreceivables,soastoensurethattheCompanyisnotexposedtosignificantriskofbaddebt.NocollateralisrequiredsincetheCompanyonlydealswiththirdpartiesthatareapprovedandcreditworthy.Theconcentratedcreditrisksaremanagedbycustomers.AsofDecember31,2021,theCompanyisexposedtocertainconcentrationofcreditrisks,astheCompany’saccountsreceivablefromtop5customershaveaccountedfor53.39%ofthetotalbalanceofaccountsreceivable(December31,2020:34.43%).TheCompanyheldnocollateralorothercreditrankingmeasuresforthebalanceofaccountsreceivable.
ThemaximumexposuretotheCompanyisthecarryingamountofeachfinancialassetinthebalancesheet.
(II)Liquidityrisk
LiquidityriskrefertotheriskthattheCompanyisinshortageoffundsinperformingobligationsthataresettledbydeliveringcashoranotherfinancialasset.
Inordertocontrolthisrisk,theCompanybalancesthecontinuityandflexibilityoffinancingbyusingvariousfinancingmeasuressuchasnotessettlementandbankloanscomprehensivelyandadoptingbothlong-termandshort-termfinancingmethodstooptimizethefinancingstructure.TheCompanyhasreceivedcreditfacilitiesfromanumberofcommercialbankstosatisfyitsworkingcapitalrequirementsandcapitalexpenditures.
Financialliabilitiesclassifiedbyremainingmaturity
| Item | Closingbalance | ||||
| Carryingamount | Undiscountedcontractamount | Within1year | 1-3years | Over3years | |
| Bankborrowings | 39,786,903.37 | 41,628,749.86 | 41,628,749.86 | ||
| Notespayable | 921,504,704.91 | 921,504,704.91 | 921,504,704.91 | ||
| Accountspayable | 4,960,935,241.83 | 4,960,935,241.83 | 4,960,935,241.83 | ||
| Otherpayables | 149,086,160.61 | 149,086,160.61 | 149,086,160.61 | ||
| Othercurrentliabilities | 210,748,000.00 | 210,748,000.00 | 210,748,000.00 | ||
| Leaseliabilities(includingthoseduewithinoneyear) | 212,742,184.54 | 237,923,303.74 | 44,757,856.68 | 113,422,811.81 | 79,742,635.25 |
| Sub-total | 6,494,803,195.26 | 6,521,826,160.95 | 6,328,660,713.89 | 113,422,811.81 | 79,742,635.25 |
(Continuedtoabovetable)
| Item | Balanceattheendoflastyear | ||||
| Carryingamount | Undiscountedcontractamount | Within1year | 1-3years | Over3years | |
| Bankborrowings | 39,789,110.68 | 41,159,399.06 | 41,159,399.06 | ||
| Notespayable | 712,292,035.75 | 712,292,035.75 | 712,292,035.75 | ||
| Accountspayable | 5,217,087,330.62 | 5,217,087,330.62 | 5,217,087,330.62 | ||
| Otherpayables | 160,651,194.91 | 160,651,194.91 | 160,651,194.91 | ||
| Sub-total | 6,129,819,671.96 | 6,131,189,960.34 | 6,131,189,960.34 | ||
(III)Marketrisk
Marketriskreferstotheriskthatthefairvalueorfuturecashflowsofafinancialinstrumentwillfluctuatebecauseofchangesin
marketprices.Marketriskmainlyincludesinterestrateriskandcurrencyrisk.
1.InterestrateriskInterestrateriskistheriskthatthefairvalueorfuturecashflowsofafinancialinstrumentwillfluctuatebecauseofchangesinmarketinterestrates.SincetheCompany’sborrowingsareatfixedinterestrates,fluctuationsininterestratesofborrowingswillnothaveamaterialimpactontheCompany’stotalprofitsorshareholders'equity.
2.CurrencyriskCurrencyriskistheriskthatthefairvalueorfuturecashflowsofafinancialinstrumentwillfluctuatebecauseofchangesinforeignexchangerates.SincetheCompanymainlyoperatesinMainlandChinawithitsprincipalactivitiesdenominatedinRMB,itsexposuretothecurrencyriskduetochangesinmarketisnotmaterial.TheclosingbalanceoftheCompany’smonetaryassetsandliabilitiesdominatedinforeigncurrenciescanbereferredtoinNoteVII.56tothefinancialstatementshereof.XI.DisclosureofFairValue
1.Closingbalanceofthefairvalueofassetsandliabilitiesmeasuredatfairvalue
InRMB
| Item | Closingbalanceoffairvalue | |||
| Level1 | Level2 | Level3 | Total | |
| I.Continuousfairvaluemeasurement | -- | -- | -- | -- |
| (I)Held-for-tradingfinancialassets | 3,410,000,000.00 | 3,410,000,000.00 | ||
| 1.Financialassetsatfairvaluethroughprofitorloss | 3,410,000,000.00 | 3,410,000,000.00 | ||
| (3)Derivativefinancialassets | 3,410,000,000.00 | 3,410,000,000.00 | ||
| (II)Receivablesfinancing | 137,800,000.00 | 137,800,000.00 | ||
| Totalliabilitiescontinuouslymeasuredatfairvalue | 3,410,000,000.00 | 137,800,000.00 | 3,547,800,000.00 | |
| II.Non-continuousfairvaluemeasurement | -- | -- | -- | -- |
2.Basisfordeterminingthemarketpriceofcontinuousandnon-continuouslevel1fairvaluemeasurementitems
3.Valuationtechniquesandqualitativeandquantitativeinformationofkeyparametersadoptedforcontinuousandnon-continuouslevel2fairvaluemeasurementitemsWithrespecttoheld-for-tradingfinancialassetswithsimilarproductsquotationinanactivemarket,thefairvalueofthemshallbedeterminedbythequotationofsuchsimilarproductsintheactivemarket.
4.Valuationtechniquesandqualitativeandquantitativeinformationofkeyparametersadoptedforcontinuousandnon-continuouslevel3fairvaluemeasurementitems
TheCompany’sreceivablesfinancingreferstothebankacceptancesacceptedbycommercialbankswithhighercreditrating,withoutquotationintheactivemarket.Thecostthereofrepresentsthebestestimateoffairvalue.
5.Reconciliationbetweenopeningandclosingcarryingamountsandsensitivityanalysisofunobservableparametersforcontinuouslevel3fairvaluemeasurementitems
6.Incaseoftransfersamonglevelsforthecurrentperiod,explainthetransferreasonsandpoliciesfordeterminingtransfertimepointforcontinuousfairvaluemeasurementitems
7.Changesinvaluationtechniquesforthecurrentperiodandreasonsforchanges
8.Fairvalueoffinancialassetsandliabilitiesnotmeasuredatfairvalue
9.Others
XII.RelatedPartiesandRelatedPartyTransactions
1.ParentcompanyoftheCompany
| Nameoftheparentcompany | Registeredaddress | Businessnature | Registeredcapital | ProportionoftheCompany’sownershipinterestheldbytheparentcompany(%) | ProportionoftheCompany’svotingrightheldbytheparentcompany(%) |
| MangoMediaCo.,Ltd. | PRC | Planning,productionandoperationofradioandtelevisionprograms;assetmanagementandinvestmentsubjecttolawsandregulations;advertisingplanning, | 2,050,000,000.00 | 56.09% | 56.09% |
DescriptionsoftheCompany’sparentcompany
MangoMediaCo.,Ltd.,whichholds56.09%ofthesharesintheCompany,wasestablishedonJuly10,2007witharegisteredcapitalofRMB2,050,000,000andregisteredaddressandprincipalplaceofbusinessinGoldenEagleStudioCultureCityinKaifuDistrict,ChangshaCity.HunanBroadcastingSystemholds100%sharesinMangoMediaCo.,Ltd.MangoMediaCo.,Ltd.ismainlyengagedinplanning,productionandoperationofradioandtelevisionprograms;investmentinculture,sports,entertainment,media,scienceandtechnology,internetandotherindustrieswithself-ownedfunds(notallowedtoengageinactivitiesundernationalfinancialsupervisionandfinancialcreditbusinessessuchasdepositabsorption,fundraisingandcollection,entrustedloan,billissuance,loanissuance,etc.);advertisingplanning,productionandoperation;andmultimediatechnologydevelopmentandmanagement.
TheultimatecontrollingpartyoftheCompanyisHunanBroadcastingSystem.Otherdescriptions:
2.SubsidiariesoftheCompanyFordetailsofthesubsidiariesoftheCompany,seethedescriptionsintheaccompanyingNoteIX.
3.AssociatesandjointventuresoftheCompanyFordetailsofthesignificantjointventuresorassociatesoftheCompany,seethedescriptionsintheaccompanyingNoteIX.ThedetailsofotherjointventuresorassociateshavingrelatedpartytransactionsandbalanceswiththeCompanyinthecurrentperiodorpriorperiodsarepresentedasfollows:
productionandoperation;Nameofjointventureorassociate
| Nameofjointventureorassociate | RelationshipwiththeCompany |
| ShanghaiMamaMiaMutualEntertainmentNetworkTechnologyCo.,Ltd. | Associates |
| TianjinSunshineMeichuangTechnologyCo.,Ltd. | Associates |
Otherdescriptions
4.OtherrelatedpartiesoftheCompany
| Nameofotherrelatedparty | RelationshipbetweenotherrelatedpartyandtheCompany |
| HunanRadioandTelevisionAdvertisingCorporation | Controlledbythesameactualcontroller |
| HunanBroadcastingSystemSatelliteTVChannel | Controlledbythesameactualcontroller |
| SubsidiariesofHunanTVBusinessOperationDevelopmentCo.,Ltd.[Note1] | |
| YunhongCommunicationTechnology(Guangzhou)Co.,Ltd.[Note2] | Controlledbythesameactualcontroller |
| HunanBroadcastingandFilmGroupCo.,Ltd. | Controlledbythesameactualcontroller |
| SubsidiariesofHunanBroadcastingSystem[Note3] | Controlledbythesameactualcontroller |
| SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd.[Note4] | Controlledbythesameactualcontroller |
| SubsidiariesofMangoMediaCo.,Ltd.[Note5] | Controlledbythesameactualcontroller |
| XiaoXiangFilmGroupCo.,Ltd. | Controlledbythesameactualcontroller |
| MIGUCultureTechnologyCo.,Ltd.[Note6] | Companymateriallyaffectedbythekeyofficers |
Otherdescriptions
[Note1]HunanTVBusinessOperationDevelopmentCo.,Ltd.comprisesHunanEEAdvertisingCo.,Ltd.andHunanEEAdvertisingCo.,Ltd.MangoIdolBranch
[Note2]YunhongCommunicationTechnology(Guangzhou)Co.,Ltd.comprisesBeijingYunhongWanhaoAdvertisingCo.,Ltd.andShanghaiYunhongAdvertisingCo.,Ltd..
[Note3]ThesubsidiariesofHunanBroadcastingSystemcompriseBeijingHappywoodsCultureCommunicationCo.,Ltd.,HunanInnovationEntertainmentMediaCo.,Ltd.,HunanTVDramaMediaCo.,Ltd.,HunanBroadcastingandTelevisionLogisticsManagementServiceCo.,Ltd.,HunanBroadcastingSystemChannel(excludingSatelliteTVChannel),HunanBroadcastingSystemBroadcastMediaCenter,HunanBroadcastingSystemLogisticsSupportCenter,HunanBroadcastingSystemInternationalMediaCo.,Ltd.,HunanInternationalConventionandExhibitionCenterCo.,Ltd.,HunanHappyAvantGardeMediaCo.,Ltd.andLetianEntertainment(Hunan)Co.,Ltd..
[Note4]ThesubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd.compriseTIKFilms,HunanJinyingchengRealEstateCo.,Ltd.,HunanCATVNetworkGroupCo.,Ltd.,HunanSaintTropezInvestmentCo.,Ltd.,Shenzhen9zhitxTechnologyCo.,Ltd.andChangshaColorfulWorldCo.,Ltd..
[Note5]MangoMediaCo.,Ltd.anditssubsidiariescomprise]MangoMediaCo.,Ltd.,BeijingJinshiyatangFilm&TelevisionCultureCommunicationCo.,Ltd.andHunanMangoVisionTechnologyCo.,Ltd.andHunanHappyMoneyMicrofinanceCo.,Ltd.andGoldenEagleBroadcastingSystemCo.,Ltd.
[Note6]MIGUCultureTechnologyCo.,Ltd.comprisesMIGUVideoTechnologyCo.,Ltd.,MIGUCartoonCo.,Ltd.,MIGUDigitalMediaCo.,Ltd.,MIGUMusicCo.,Ltd.andMIGUInteractiveEntertainmentCo.,Ltd..
5.Relatedpartytransactions
(1)Salesandpurchaseofgoods,andrenderingandreceiptofservices
Statementofpurchaseofgoods/receiptofservices
InRMB
| Relatedparties | Detailsofrelatedpartytransactions | Amountforthecurrentperiod | Transactionquotaapproved | Whetherexceedingtheapprovedtransactionamount | Amountforthepriorperiod |
| YunhongCommunicationTechnology(Guangzhou)Co.,Ltd | Advertisingagency | 209,219,140.92 | 204,000,000.00 | Yes | 210,676,667.48 |
| HunanRadioandTelevision | Advertising,publicityand | 40,592,476.33 |
| AdvertisingCorporation | promotion | ||||
| HunanBroadcastingSystem | Valueaddedshareofoperators,brandlicenseandprogramusagefee | 3,805,031.40 | Yes | 11,407,659.58 | |
| SubsidiariesofHunanBroadcastingSystem | Publicityandpromotion,artistagency,programproduction,venueexhibitionandsupportingservices,purchaseofgoods,andadvertisingagency | 67,038,290.39 | 55,340,000.00 | Yes | 33,420,832.91 |
| HunanBroadcastingSystemSatelliteTVChannel | Publicityandpromotion,artistagency,acceptingservicesandcopyrights | 1,724,905.65 | 2,060,000.00 | No | 36,848,537.20 |
| ShanghaiMamaMiaMutualEntertainmentNetworkTechnologyCo.,Ltd. | Purchaseofgoods | 1,360,895.71 | 1,000,000.00 | Yes | 949,171.49 |
| MIGUCultureTechnologyCo.,Ltd. | Bandwidth,copyrightpurchase,advertisingfeeandgoodspurchase | 36,872,709.67 | 48,800,000.00 | No | 62,298,481.29 |
| HunanBroadcastingandFilmGroupCo.,Ltd. | Purchaseofcopyrights,operatorsharing,publicityandpromotion,andadvertisingagency | 732,959,163.69 | 700,310,000.00 | Yes | 662,114,253.82 |
| SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | Operatorsharing,boardandlodgingexpenses,purchaseofgoodsandsiteexpenses | 12,498,312.87 | 12,500,000.00 | No | 20,277,039.13 |
| MangoMediaCo.,Ltd.andsubsidiaries | Artistagencyandtechnicalcost | 24,809,356.57 | 8,100,000.00 | Yes | 10,830,707.04 |
| HunanTVBusinessOperationDevelopmentCo.,Ltd. | Advertisingagency,internetaccesscooperationfees | 77,336,094.65 | 153,910,000.00 | No | 183,877,073.47 |
| HunanBroadcastingSystemBroadcastMediaCenter | Artistagency,publicityandpromotion | 1,704,764.54 | Yes | ||
| XiaoXiangFilmGroupCo.,Ltd. | Purchaseofcopyrights | 1,769,911.50 | Yes |
Statementofsalesofgoods/renderingofservices
InRMB
| Relatedparties | Detailsofrelatedpartytransactions | Amountforthecurrentperiod | Amountforthepriorperiod |
| YunhongCommunicationTechnology(Guangzhou)Co.,Ltd | Advertising | 765,968,272.87 | 771,483,736.91 |
| HunanBroadcastingandFilmGroupCo.,Ltd. | Advertising,releaseincome,publicityandpromotion | 1,684,145,199.13 | 801,900,648.11 |
| HunanBroadcastingSystem | Advertising,releaseincome,andsalesofgoods | 619,469.03 | 354,592.45 |
| HunanBroadcastingSystemSatelliteTVChannel | Releaseincomeandrenderingofservices | 3,069,701.06 | 418,531,355.04 |
| SubsidiariesofHunanBroadcastingSystem | Advertising,artistincome,derivativesbusinessandsalesofgoods | 5,925,945.90 | 40,437,722.81 |
| MangoMediaCo.,Ltd.andsubsidiaries | Artistincome,salesofgoodsandreleaseincome | 156,799,987.36 | 446,518,867.72 |
| ShanghaiMamaMiaMutualEntertainmentNetworkTechnologyCo.,Ltd. | Salesofgoodsandsuppliercharge | 146,432.71 | 308,159.28 |
| SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | Operatorincome | 2,514,681.44 | |
| MIGUCultureTechnologyCo.,Ltd. | Operatorincome,advertising,memberbenefits,andsalesofderivativesandgoods | 1,650,532,231.02 | 826,176,362.97 |
| HunanBroadcastingSystemBroadcastMediaCenter | Salesofgoods | 35,253.98 | |
| HunanTVBusinessOperationDevelopmentCo.,Ltd. | Advertisingandsalesofgoods | 673,438,735.02 | 556,465,901.91 |
| XiaoXiangFilmGroupCo.,Ltd. | Copyrighttransfer | 185,238.06 |
Descriptionsofrelatedpartytransactionswithrespecttothesalesandpurchaseofgoods,aswellasrenderingandreceiptofservices
(2)Relatedentrustedmanagement/contractingandentrustingmanagement/outsourcingStatementoftheentrustedmanagement/contractingoftheCompany:
InRMB
| Nameofentrustingparty/contractee | Nameofentrustedparty/contractor | Categoryofassetsbeingentrustedwithmanagementorcontractingassets | Entrusted/contractingstartdate | Entrusted/contractingenddate | Basisforpricingoftrusteeshipincome/contractingincome | Trusteeshipincome/contractingincomerecognizedinthecurrentperiod |
Descriptionsofrelatedtrusteeship/outsourcingStatementoftheentrustingmanagement/outsourcingoftheCompany:
InRMB
| Nameofentrustingparty/contractee | Nameofentrustedparty/contractor | Categoryofassetsbeingentrustedwithmanagementorcontractedassets | Entrusting/outsourcingstartdate | Entrusting/outsourcingenddate | Basisforpricingoftrusteeshipfee/outsourcingfee | Trusteeshipfee/contractingfeerecognizedinthecurrentperiod |
Descriptionsofrelatedmanagement/outsourcing
(3)Relatedleases
TheCompanyasthelessor:
InRMB
| Nameoflessee | Categoryofleasedassets | Leaseincomerecognizedinthecurrentperiod | Leaseincomerecognizedinthepriorperiod |
| MangoMediaCo.,Ltd.andsubsidiaries | Leasingandpropertymanagement | 561,203.27 | 2,005,015.86 |
| SubsidiariesofHunanBroadcastingSystem | Leasingandpropertymanagement | 4,052,832.85 | 5,229,537.88 |
TheCompanyasthelessee:
InRMB
| Nameoflessor | Categoryofleasedassets | Leasefeesrecognizedinthecurrentperiod | Leasefeesrecognizedinthepriorperiod |
| SubsidiariesofHunanBroadcastingSystem | Leasingandpropertymanagement | 34,890,852.22 | 23,335,476.32 |
| SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | Leasingandpropertymanagement | 13,683,059.96 | 13,260,280.74 |
| SubsidiariesofMangoMediaCo.,Ltd. | Automobilerental | 188,586.82 |
Descriptionsofleaseswithrelatedparties
(4)Relatedguarantees
TheCompanyastheguarantor:
InRMB
| Guaranteed | Guaranteeamount | Startdateofguarantee | Maturitydateofguarantee | Whethertheguaranteeobligationhasbeendischarged |
TheCompanyastheguaranteed:
InRMB
| Guarantor | Guaranteeamount | Startdateofguarantee | Maturitydateofguarantee | Whethertheguaranteeobligationhasbeendischarged |
Descriptionsofguaranteeswithrelatedparties
(5)Lendingfundsofrelatedparties
InRMB
| Relatedparties | Amount | Startdate | Maturitydate | Note |
| Borrowing | ||||
| Lending | ||||
(6)Assettransferanddebtrestructuringbetweenrelatedparties
InRMB
| Relatedparty | Detailsofrelatedpartytransactions | Amountforthecurrentperiod | Amountforthepriorperiod |
(7)Compensationforkeymanagement
InRMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Compensationforkeymanagementpersonnel | 28,980,000.00 | 37,175,900.00 |
(8)Otherrelatedpartytransactions
The100%equityofHunanHappyMoneyMicrofinanceCo.,LtdheldbytheCompanywastransferredtoMangoMediaCo.,Ltd.inconsiderationofRMB304,249,700,theindustrialandcommercialchangeregistrationproceduresforwhichwerecompletedonJune16,2021.
6.Receivablesfromandpayablestorelatedparties
(1)Accountsreceivable
InRMB
| Item | Relatedparties | Closingbalance | Openingbalance | ||
| Grosscarryingamount | Provisionsforbaddebts | Grosscarryingamount | Provisionsforbaddebts | ||
| Receivablefinancing | HunanBroadcastingSystemSatelliteTVChannel | 57,000,000.00 | |||
| Receivablefinancing | MIGUCultureTechnologyCo.,Ltd. | 107,410,000.00 | |||
| Receivablefinancing | HunanTVBusinessOperationDevelopmentCo.,Ltd. | 12,000,000.00 | |||
| Receivablefinancing | HunanBroadcastingandFilmGroupCo.,Ltd. | 43,200,000.00 | |||
| Sub-total | 55,200,000.00 | 164,410,000.00 | |||
| Notesreceivable | HunanBroadcastingandFilmGroupCo.,Ltd. | 12,000,000.00 | |||
| Notesreceivable | MIGUCultureTechnologyCo.,Ltd. | 661,742,339.23 | |||
| Sub-total | 673,742,339.23 | ||||
| Accountsreceivable | HunanBroadcastingSystem | 244,000.00 | |||
| Accountsreceivable | HunanBroadcastingSystemSatelliteTVChannel | 214,923,447.92 | |||
| Accountsreceivable | HunanBroadcastingandFilmGroupCo.,Ltd. | 1,039,093,242.60 | 164,336,587.00 | ||
| Accountsreceivable | MangoMediaCo.,Ltd.andsubsidiaries | 348,640.12 | 122,610,000.00 | ||
| Accountsreceivable | TianjinSunshineMeichuangTechnologyCo.,Ltd. | 766,557.10 | 766,557.10 | 766,557.10 | 766,557.10 |
| Accountsreceivable | YunhongCommunicationTechnology(Guangzhou)Co.,Ltd | 33,794,156.81 | 72,753,709.93 | ||
| Accountsreceivable | MIGUCultureTechnologyCo.,Ltd. | 283,182,835.10 | 14,159,141.76 | 61,576,467.21 | 3,078,823.36 |
| Accountsreceivable | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 4,503.00 | 2,876,840.38 | ||
| Accountsreceivable | SubsidiariesofHunanBroadcastingSystem | 7,618,619.30 | 3,490,039.09 | ||
| Accountsreceivable | HunanTVBusinessOperationDevelopmentCo.,Ltd.anditssubsidiaries | 347,838,043.25 | 290,175,195.53 | ||
| Accountsreceivable | ShanghaiMamaMiaMutualEntertainmentNetworkTechnologyCo.,Ltd. | 8,310.60 | 415.53 | ||
| Accountsreceivable | XiaoXiangFilmGroupCo.,Ltd. | 186,352.35 |
| Sub-total | 1,712,841,260.23 | 14,926,114.39 | 933,752,844.16 | 3,845,380.46 | |
| Contractasset | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 2,449,700.00 | |||
| Contractasset | MIGUCultureTechnologyCo.,Ltd. | 520,037,950.51 | 26,001,897.53 | 462,914,088.43 | 23,145,704.42 |
| Sub-total | 520,037,950.51 | 26,001,897.53 | 465,363,788.43 | 23,145,704.42 | |
| Prepayments | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 160,628.95 | 64,443.96 | ||
| Prepayments | SubsidiariesofHunanBroadcastingSystem | 2,515,982.48 | 397,107.70 | ||
| Prepayments | TianjinSunshineMeichuangTechnologyCo.,Ltd. | 6,014,723.96 | 6,014,723.96 | 6,014,723.96 | 6,014,723.96 |
| Prepayments | HunanBroadcastingandFilmGroupCo.,Ltd. | 2,264.15 | |||
| Prepayments | ShanghaiMamaMiaMutualEntertainmentNetworkTechnologyCo.,Ltd. | 13,399.99 | |||
| Prepayments | MangoMediaCo.,Ltd.andsubsidiaries | 23,893.82 | 304,789.54 | ||
| Sub-total | 8,730,893.35 | 6,014,723.96 | 6,781,065.16 | 6,014,723.96 | |
| Otherreceivables | SubsidiariesofHunanBroadcastingSystem | 1,761,126.00 | 1,000,105.00 | ||
| Otherreceivables | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 1,412,441.00 | 1,119,357.00 | ||
| Otherreceivables | ShanghaiMamaMia | 2,629,764.69 | 2,629,764.69 | 2,629,764.69 | 1,564,882.35 |
| MutualEntertainmentNetworkTechnologyCo.,Ltd. | |||||
| Otherreceivables | HunanBroadcastingandFilmGroupCo.,Ltd. | 100,000.00 | 300,000.00 | ||
| Otherreceivables | SubsidiariesofMangoMediaCo.,Ltd. | 921,193.47 | |||
| Otherreceivables | HunanBroadcastingSystem | 30,000.00 | |||
| Otherreceivables | XiaoXiangFilmGroupCo.,Ltd. | 50,822.65 | |||
| Sub-total | 6,905,347.81 | 2,629,764.69 | 5,049,226.69 | 1,564,882.35 | |
| Othercurrentassets | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 1,531,056.96 | |||
| Othercurrentassets | HunanTVBusinessOperationDevelopmentCo.,Ltd. | 707,547.16 | |||
| Sub-total | 707,547.16 | 1,531,056.96 |
(2)Accountspayable
InRMB
| Item | Relatedparties | Grosscarryingamountattheendoftheperiod | Grosscarryingamountatthebeginningoftheperiod |
| Accountspayable | YunhongCommunicationTechnology(Guangzhou)Co.,Ltd | 237,264,113.11 | 199,545,392.54 |
| Accountspayable | HunanBroadcastingSystem | 20,290,566.05 | 20,281,809.33 |
| Accountspayable | HunanBroadcastingSystemSatelliteTVChannel | 3,380,943.40 | |
| Accountspayable | HunanRadioandTelevisionAdvertisingCorporation | 11,320,754.73 | |
| Accountspayable | HunanBroadcastingandFilm | 97,676,655.77 | 37,086,109.61 |
| GroupCo.,Ltd. | |||
| Accountspayable | ShanghaiMamaMiaMutualEntertainmentNetworkTechnologyCo.,Ltd. | 61,546.13 | 134,309.23 |
| Accountspayable | TianjinSunshineMeichuangTechnologyCo.,Ltd. | 24,449.42 | 25,350.00 |
| Accountspayable | MIGUCultureTechnologyCo.,Ltd. | 13,758,167.93 | 35,517,829.89 |
| Accountspayable | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 76,946.59 | 17,725,248.79 |
| Accountspayable | SubsidiariesofHunanBroadcastingSystem | 9,404,343.82 | 1,845,211.14 |
| Accountspayable | SubsidiariesofMangoMediaCo.,Ltd. | 1,055,662.29 | 132,075.48 |
| Accountspayable | HunanTVBusinessOperationDevelopmentCo.,Ltd. | 169,921,580.33 | 176,823,442.87 |
| Sub-total | 549,534,031.44 | 503,818,477.01 | |
| Contractliabilities | YunhongCommunicationTechnology(Guangzhou)Co.,Ltd | 855,240.83 | |
| Contractliabilities | HunanBroadcastingSystem | 1,886,792.45 | 1,886,792.45 |
| Contractliabilities | HunanBroadcastingSystemSatelliteTVChannel | 117,594,339.62 | |
| Contractliabilities | MIGUCultureTechnologyCo.,Ltd. | 2,907,212.61 | 22,022.40 |
| Contractliabilities | SubsidiariesofHunanBroadcastingSystem | 349,943.95 | |
| Contractliabilities | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 1,573,712.60 | 1,573,712.60 |
| Contractliabilities | HunanTVBusinessOperationDevelopmentCo.,Ltd. | 358,490.58 | |
| Contractliabilities | SubsidiariesofMangoMediaCo.,Ltd. | 31,720.00 | 1,725,283.01 |
| Sub-total | 6,757,928.24 | 124,007,334.86 | |
| Otherpayables | HunanTVBusinessOperationDevelopmentCo.,Ltd. | 250,000.00 | |
| Otherpayables | SubsidiariesofHunanTV& | 903,112.55 | 1,596,991.85 |
| BroadcastIntermediaryCo.,Ltd. | |||
| Otherpayables | HunanBroadcastingSystem | 172,249.06 | |
| Otherpayables | MangoMediaCo.,Ltd.anditssubsidiaries | 3,798,949.15 | 3,784,547.60 |
| Otherpayables | SubsidiariesofHunanBroadcastingSystem | 5,168,933.76 | 5,788,122.23 |
| Sub-total | 10,043,244.52 | 11,419,661.68 | |
| Othercurrentliabilities | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 5,595,825.03 | |
| Othercurrentliabilities | SubsidiariesofHunanBroadcastingSystem | 12,506,214.32 | |
| Othercurrentliabilities | MIGUCultureTechnologyCo.,Ltd. | 210,754,333.88 | |
| Sub-total | 228,856,373.23 | ||
| Non-currentliabilitiesduewithinoneyear | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 8,952,558.55 | |
| Non-currentliabilitiesduewithinoneyear | SubsidiariesofHunanBroadcastingSystem | 11,062,016.76 | |
| Sub-total | 20,014,575.31 | ||
| Leaseliabilities | SubsidiariesofHunanTV&BroadcastIntermediaryCo.,Ltd. | 11,051,946.09 | |
| Leaseliabilities | SubsidiariesofHunanBroadcastingSystem | 60,992,717.01 | |
| Sub-total | 72,044,663.10 |
7.Commitmentsofrelatedparties
8.Others
XIII.Share-BasedPayment
1.Overviewofshared-basedpayment
□Applicable√N/A
2.Equity-settledshare-basedpayment
□Applicable√N/A
3.Cash-settledshare-basedpayment
□Applicable√N/A
4.Modificationtoandterminationofshare-basedpayment
5.Others
XIV.CommitmentsandContingencies
1.Significantcommitment
Significantcommitmentsasofthebalancesheetdate
1.Commitmenttopaymentsforinternetaccesscooperation
InRMB0’000
| Paymentsforinternetaccesscooperation | Closingbalance | Openingbalance |
| The1styearsubsequenttothebalancesheetdate | 2,329.72 | 3,198.95 |
| The2ndyearsubsequenttothebalancesheetdate | 4.86 | |
| The3rdyearsubsequenttothebalancesheetdate | ||
| Total | 2,329.72 | 3,203.81 |
PaymentsforinternetaccesscooperationarechargesforusethatshouldbepaidbytheCompanyineachrelevantagreementperiodsubjecttoagreementsconcludedbytheHappigoandeachlocalTVstationwithcooperation.
2.Copyrightpurchasecommitment
InRMB0’000
| Copyrightpurchaseagreements | Closingbalance | Openingbalance |
| The1styearsubsequenttothebalancesheetdate | 54,571.00 | 54,571.00 |
| The2ndyearsubsequenttothebalancesheetdate | 54,571.00 | 54,571.00 |
| The3rdyearsubsequenttothebalancesheetdate | 54,571.00 | 54,571.00 |
| Subsequentperiods | 54,571.00 | 109,142.00 |
| Total | 218,284.00 | 272,855.00 |
CopyrightpurchaseagreementsareconcludedbyandbetweenHappySunshineandHunanBroadcastingandFilmGroupCo.,Ltd.forconsiderationsthatshouldbepaidbytheCompanytopurchasecopyrightsineachrelevantagreementperiod.
2.Contingencies
(1)Significantcontingenciesasofthebalancesheetdate
1.InAugust2019,LeadCapitalManagementCo.,Ltd.(“LeadCapital”)filedalawsuitagainstHappySunshinewithChangshaMunicipalIntermediatePeople’sCourt,requestingtoorderHappySunshinetomakerelevantpaymentstogetherwithliquidated
damagesintheamountofaboutRMB20.4611milliononbehalfofBeijingGuolongFilmInvestmentCo.,Ltd.(“Guolong”)toLeadCapital,andmeanwhileapplyingtothecourtforpropertypreservation,asaresultofwhichasumofRMB21millioninHappySunshine’saccountopenedwiththeBusinessDepartmentofChinaZheshangBankChangshaBranchwasfrozen.Aspresent,thesecondinstancehasbeenheardbyHunanProvincialHigherPeople’sCourtwhothenhasmadearulingorderingthecasetoberemandedtoChangshaMunicipalIntermediatePeople’sCourtforretrial.Inthisconnection,HappySunshinehaslodgedaseparateactionagainstGuolongforcontracttermination,forwhichChangshaMunicipalIntermediatePeople’sCourthasrenderedaneffectivefirst-instancejudgmentconfirmingthelicensecontracton“ParisUnhappy”betweenHappySunshineandGuolongisterminated,anddeterminingthepaymentmadebyHappySunshinedoesnotneedtobereturnedtoGuolongfilm,andGuolongshallpayasumofRMB2.98millionasliquidateddamagestoHappySunshine,finding,however,thatwhethertheremainingamountofthecontractshallbepaidshallbeanissuetobeaddressedviaaseparatecase.Assuch,whetherthereisstillanypaymentobligationonthepartofHappySunshineshallbesubjecttotheretrial.
2.ProtiumDeuteriumTritium(Guangzhou)IndustrialOperationManagementCo.,Ltd.(“ProtiumDeuteriumTritium”)suedHappySunshineinthePeople’sCourtofHaizhuDistrict,GuangzhouCity,GuangdongProvinceonNovember30,2020,requestingthecourttoorderHappySunshinetopaytheoutstandingproductionfeesofRMB14.36millionandbeartheliquidateddamagesofRMB3.19million.Withrespecttothecase,thePeople’sCourtofHaizhuDistrictmadethefirst-instancejudgementorderingHappySunshinetopaytheproductionfeesofRMB13.16million,whilerejectingotherlitigationrequestsofProtiumDeuteriumTritium.Atpresent,thecasehasenteredtheappealproceedingsinGuangzhouMunicipalIntermediatePeople’sCourtpendingthesecond-instancejudgement.Inaddition,HappySunshinefiledalawsuitagainstProtiumDeuteriumTritiumforadvertisingfeesowedtotheformerwithChangshaMunicipalIntermediatePeople’sCourtwhorenderedthefirst-instancejudgementwhichhasbeeninforceobligingProtiumDeuteriumTritiumtopaytheadvertisingfeesofRMB13.28295milliontoHappySunshine,butsuchjudgmenthasnotyetbeenenforcedbyProtiumDeuteriumTritiumforthetimebeing.
3.ShandongYuquanTianyuanAgriculturalComprehensiveDevelopmentCo.,Ltd.(“ShandongYuquan”)filedalawsuitagainstShanghaiMangofunTechnologyCo.,Ltd.(“Mangofun”)withthePeople’sCourtofLanshanDistrict,LinyiCity,ShandongProvinceonJuly6,2021,requestingthecourttoorder:acancellationofthecooperationagreementon“HappyMango”experienceparkdatedJanuary1,2019betweenbothparties;acompensationfromMangofuntoShandongYuquanfortheeconomiclossesintheamountofRMB6.8098million.Meanwhile,ShandongYuquanhasappliedtosuchcourtforpropertypreservation,resultinginafreezingofRMB1.6millionintheaccountunderthenameofMangofunatChinaMerchantsBank.
Atpresent,thecaseispendingbeforethePeople’sCourtofLanshanDistrict.Evenifthecontractisdeterminedtobecanceled,theCompanywillseektoreduceitscompensationliabilitygivenitisShandongYuquanwhobreachedthecontractfirst,subjecttothejudgmentofthecourt.
4.OnDecember4,2017,LeshiInternetInformation&TechnologyCorp.,Beijing(hereinafter“LeshiInternet”)andHappySunshineconcludedanAgreementonExclusivelyLicensedUseofInformationNetworkDisseminationRights(hereinafter“OriginalLicenseAgreement”);pursuanttowhich,LeshiInternetassignstheexclusiveinformationnetworkdisseminationrightsofteleplayTearsInHeaventoHappySunshine,andHappySunshinehaspaidthedownpaymentofRMB31.20million.
OnMarch20,2021,LeshiInternet,LeshiXinshengdai(Beijing)CultureMediaCo.,Ltd.(hereinafter“Xinshengdai”)andHappySunshineconcludedanagreement,pursuanttowhich,LeshiInternettransfersitsrightsandobligationsunderOriginalLicenseAgreementtoXinshengdai;thetotallicensefeeofteleplayTearsInHeavenisRMB63.75million,andHappySunshineshallpayremaininglicensefeeofRMB32.55million.XinshengdailodgedalawsuittoPeople’sCourtofChaoyangDistrict,BeijingforaforesaidunpaidlicensefeeofRMB32.55millioninDecember2021,andthebankdepositRMB34,177,500ofHappySunshinewasfrozen.Throughnegotiation,HappySunshineandXinshengdaiconcludedanewagreement,HappySunshinehaspaidthelicensefeeofRMB32.55milliononJanuary4,2022,andXinshengdaihasdroppedthelawsuitandunfrozenthebankdepositofHappySunshine.
(2)PleasemakecorrespondingclarificationiftheCompanyhasnosignificantcontingencytobedisclosed
TheCompanyhasnosignificantcontingenciestobedisclosed.
3.OthersXV.EventsSubsequenttotheBalanceSheetDate
1.Significantnon-adjustmentevents
InRMB
| Item | Content | Effectsonfinancialpositionandoperatingresults | Reasonsforinabilitytoestimatetheeffects |
2.Profitdistribution
InRMB
| Profitsordividendstobedistributed | 243,193,705.95 |
| Profitsordividendsdeclaredfordistributionafterbeingapproved | 243,193,705.95 |
3.Salesreturns
4.DescriptionsofothereventssubsequenttothebalancesheetdateXVI.OtherSignificantEvents
1.Correctionsofpreviousaccountingerrors
(1)Retrospectiverestatement
InRMB
| Contentofaccountingerrorcorrection | Accountingprocedure | Reportitemsineachcomparisonperiodaffected | Cumulativeeffects |
(2)Prospectiveapplication
| Contentofaccountingerrorcorrection | Approvalprocedure | Reasonsforadoptingprospectiveapplication |
2.Debtrestructuring
3.Replacementofassets
(1)Exchangeofnon-monetaryassets
(2)Replacementofotherassets
4.Annuityplan
5.Discontinuedoperations
InRMB
| Item | Income | Cost | Totalprofit | Incometaxexpense | Netprofit | Profitfromdiscontinuedoperationattributabletoownersoftheparentcompany |
| HunanHappyMoneyMicrofinanceCo.,Ltd. | 28,355,903.05 | 14,939,256.18 | 560,366.45 | 0.00 | 560,366.45 | 1,331,063.62 |
Otherdescriptions
6.Segmentinformation
(1)DeterminationbasisandaccountingpoliciesofreportingsegmentsTheCompanyhasestablishedfourreportingsegmentsbeingMangoTVInternetvideobusiness,newmediainteractiveentertainmentcontentproduction,contente-businessandothers,whicharedividedbasedonitsinternalorganizationalstructure,managementrequirements,andinnerreportingsystem,amongothers,inlightoftheindustryandproductactuality.Thereportinginformationoneachsegmentisdisclosedaccordingtotheaccountingpoliciesandmeasurementstandardsadoptedtherebywhenreportingtothemanagement,themeasurementbasesofwhichareinlinewiththeaccountingandmeasurementbasesforthepreparationofthefinancialstatements.
(2)Financialinformationofreportingsegments
InRMB
| Item | MangoTVInternetVideoBusiness | Newmediainteractiveentertainmentcontentproductionandoperation | ContentE-business | Others | Inter-segmentoffset | Total |
| Incomefrom | 11,261,249,957.21 | 1,877,457,854.82 | 2,157,213,530.01 | 39,485,705.99 | 15,335,407,048.03 |
| principaloperatingactivities | ||||||
| Costofprincipaloperatingactivities | 6,350,577,826.34 | 1,556,685,395.67 | 1,968,834,667.67 | 20,199,308.10 | 9,896,297,197.78 |
(3)IftheCompanyhasnoreportingsegmentorisunabletodisclosetotalassetsandliabilitiesofeachreportingsegment,pleasegivethereasonthereforHappySunshine,asubsidiaryoftheCompany,engagesinbusinessinvolvingthreesegmentsi.e.MangoTVInternetvideo,newmediainteractiveentertainmentcontentproductionandoperation,andcontente-commerce,thetotalassetsandliabilitiesofeachreportingsegmentofwhomcannotbedisclosedasitsassetsandliabilitiescannotbedividedaccordingtothereportingsegments.
(4)Otherdescriptions
7.Othersignificanttransactionsandeventsaffectingtheinvestors’decisions
8.Others
Leases
1.TheCompanyasthelessee
(1)Fortherelevantinformationofuserightassets,seeNoteVII(I)14tothefinancialstatementshereof;
(2)Currentprofitorlossandcashflowrelatedtoleasing
| Item | Amountinthecurrentperiod(inRMB) |
| Interestexpenseonleaseliabilities | 5,819,271.54 |
| Variableleasepaymentsthroughprofitorlossnotincludedinthemeasurementofleaseliabilities | |
| Incomefromsublettingrighttouseassets | 9,341,266.04 |
| Totalcashoutflowrelatedtoleasing | 64,826,084.84 |
| Relevantprofitorlossarisingfromsale-leasebacktransactions |
(4)Forthematurityanalysisofleaseliabilitiesandthecorrespondingliquidityriskmanagement,seeNoteX(II)tothefinancialstatementshereof.
2.TheCompanyasthelessor
Operatinglease
1.Leaseincome
| Item | Amountinthecurrentperiod(inRMB) |
| Leaseincome | 19,143,126.43 |
(2)Operatingleaseassets
| Item | Closingbalance(inRMB) |
| Fixedassets | 34,070,036.19 |
| Userightassets | 6,884,092.38 |
| Sub-total | 40,954,128.57 |
Fordetailsoffixedassetsleasedoutforoperation,seeNoteVII(I)13tothefinancialstatementshereof.
(3)Futureundiscountedleasereceiptsunderirrevocableleasesaccordingtotheleaseswiththelessees
| Remainingterm | Closingbalance(inRMB) |
| Within1year | 15,399,807.10 |
| 1-2years | 13,592,258.70 |
| 2-3years | 12,598,737.80 |
| 3-4years | 10,176,167.90 |
| 4-5years | 8,561,441.20 |
| Over5years | 11,423,322.10 |
| Total | 71,751,734.80 |
XVII.NotestoMainItemsintheFinancialStatementsoftheParentCompany
1.Otherreceivables
InRMB
| Item | Closingbalance | Openingbalance |
| Dividendsreceivable | 250,000,000.00 | |
| Otherreceivables | 80,099,116.90 | 260,068,347.20 |
| Total | 330,099,116.90 | 260,068,347.20 |
(1)Interestreceivable
1)Classificationofinterestreceivable
InRMB
| Item | Closingbalance | Openingbalance |
2)Significantoverdueinterest
| Borrower | Closingbalance | Overduetime | Overduereasons | Whetherthereisanyimpairmentandthebasisforjudgment |
Otherdescriptions:
3)Provisionforbaddebts
□Applicable√N/A
(2)Dividendsreceivable
1)Classificationofdividendsreceivable
InRMB
| Project(orinvestee) | Closingbalance | Openingbalance |
| ShanghaiEE-MediaCo.,Ltd. | 250,000,000.00 | |
| Total | 250,000,000.00 |
2)Significantdividendsreceivableagedmorethan1year
InRMB
| Project(orinvestee) | Closingbalance | Aging | Reasonsfornon-recovery | Whetherthereisanyimpairmentandthebasisforjudgment |
3)Provisionforbaddebts
□Applicable√N/AOtherdescriptions:
(3)Otherreceivables
1)Classificationofotherreceivablesbynature
InRMB
| Nature | Grosscarryingamountattheendoftheperiod | Grosscarryingamountatthebeginningoftheperiod |
| Pettycash | 100,118.08 | 69,759.37 |
| Amountduetoorfromrelatedpartieswithinthescopeofconsolidation | 80,000,000.00 | 260,000,000.00 |
| Total | 80,100,118.08 | 260,069,759.37 |
2)Provisionforbaddebts
InRMB
| Provisionsforbaddebts | StageI | StageII | StageIII | Total |
| Future12-monthECL | LifetimeECL(withoutcreditimpairment) | LifetimeECL(withcreditimpairment) | ||
| BalanceasatJanuary1,2021 | 518.95 | 893.22 | 1,412.17 |
| Inthecurrentperiod,balanceasatJanuary1,2021 | —— | —— | —— | —— |
| Provisionforthecurrentperiod | 482.23 | -893.22 | -410.99 | |
| BalanceasatDecember31,2021 | 1,001.18 | 1,001.18 |
Changesingrosscarryingamountwhoselossallowancechangedsignificantlyinthecurrentperiod
□Applicable√N/ADisclosurebyaging
InRMB
| Aging | Carryingamount |
| Within1year(inclusive) | 100,118.08 |
| 2to3years | 80,000,000.00 |
| Total | 80,100,118.08 |
3)Provision,recoveryorreversalofbaddebtsforthecurrentperiod
Provisionforbaddebtsmadeforthecurrentperiod:
InRMB
| Category | Openingbalance | Changesforthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
| Groupbyage | 1,412.17 | -410.99 | 1,001.18 | |||
| Total | 1,412.17 | -410.99 | 1,001.18 | |||
Significantrecoveryorreversalofprovisionsforbaddebtsforthecurrentperiod:
InRMB
| Entity | Amountofrecoveryorreversal | Methodofrecovery |
4)Otherreceivablesactuallywrittenofffortheperiod
InRMB
| Item | Write-offamount |
Descriptionsofsignificantotherreceivablesthatarewrittenoff:
InRMB
| Entity | Natureofotherreceivables | Write-offamount | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthepaymentsweregeneratedfrom |
Descriptionsofwrite-offofotherreceivables:
5)Topfiveclosingbalancesofotherreceivablescategorizedbydebtor
InRMB
relatedpartytransactionsEntity
| Entity | Nature | Closingbalance | Aging | Proportionintotalclosingbalanceofotherreceivables | Closingbalanceofprovisionsforbaddebts |
| HunanMangoEntertainmentCo.,Ltd. | Amountduetoorfromsubsidiaries | 80,000,000.00 | 2-3years | 99.88% | |
| Total | -- | 80,000,000.00 | -- | 99.88% |
6)Receivablesinvolvinggovernmentgrants
InRMB
| Entity | Projectssupportedbygovernmentgrants | Closingbalance | Endingaging | Expectedreceipttime,amountandbasis |
7)Otherreceivablesderecognizedduetothetransferoffinancialassets
8)Assetsandliabilitiesgeneratedbythetransferofotherreceivablesandcontinuinginvolvementtherein
Otherdescriptions:
2.Long-termequityinvestments
InRMB
| Item | Closingbalance | Openingbalance | ||||
| Grosscarryingamount | Provisionforimpairment | Carryingamount | Grosscarryingamount | Provisionforimpairment | Carryingamount | |
| Investmentsinsubsidiaries | 11,976,375,839.55 | 11,976,375,839.55 | 7,780,583,738.35 | 7,780,583,738.35 | ||
| Total | 11,976,375,839.55 | 11,976,375,839.55 | 7,780,583,738.35 | 7,780,583,738.35 | ||
(1)Investmentsinsubsidiaries
InRMB
| Investees | Openingbalance(carryingamount) | Changesinthecurrentperiod | Closingbalance(carryingamount) | Closingbalanceofprovisionsforbaddebts | |||
| Additionalinvestment | Decreasedinvestment | Provisionsforimpairment | Others | ||||
| HunanHappyMoneyMicrofinanceCo.,Ltd. | 300,000,000.00 | 300,000,000.00 | |||||
| HunanHappySunshineInteractiveEntertainmentMediaCo.,Ltd. | 5,658,165,333.48 | 5,186,884,274.14 | 10,845,049,607.62 | ||||
| HunanMangoEntertainmentCo.,Ltd. | 145,185,235.62 | 145,185,235.62 | |||||
| MangoStudiosCo.,Ltd. | 211,030,100.57 | 211,030,100.57 | |||||
| ShanghaiMangofunTechnologyCo.,Ltd. | 334,876,836.75 | 334,876,836.75 | |||||
| ShanghaiEE-MediaCo.,Ltd. | 535,281,326.72 | 535,281,326.72 | |||||
| HappigoCo.,Ltd. | 596,044,905.21 | 596,044,905.21 | |||||
| Total | 7,780,583,738.35 | 5,186,884,274.14 | 991,092,172.94 | 11,976,375,839.55 | |||
(2)Investmentsinassociatesandjointventures
InRMB
| Investors | Openingbalance(carryingamount) | Changesinthecurrentperiod | Closingbalance(carryingamount) | Closingbalanceofprovisionsforbaddebts | |||||||
| Additionalinvestment | Decreasedinvestment | Investmentprofitorlossunderequitymethod | Adjustmentinothercomprehensiveincome | Otherequitychanges | Declaredcashdividendsorprofits | Provisionsforimpairments | Others | ||||
| I.Jointventures | |||||||||||
(3)Otherdescriptions
3.Investmentincome
InRMB
II.AssociatesItem
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Incomefromlong-termequityinvestmentsaccountedforusingthecostmethod | 250,560,366.45 | |
| Incomefromlong-termequityinvestmentsaccountedforusingtheequitymethod | -518,632.62 | |
| Incomefromdisposaloflong-termequityinvestments | 4,249,700.00 | 70,383,379.80 |
| Total | 254,810,066.45 | 69,864,747.18 |
4.Others
XVIII.SupplementaryInformation
1.Statementofnon-recurringprofitorlossforthecurrentperiod
√Applicable□N/A
InRMB
| Item | Amount | Note |
| Gainsorlossesfromdisposalofnon-currentassets | 501,358.91 | |
| Governmentgrantsrecognizedinprofitorlossforthecurrentperiod(excludinggovernmentgrantsthatarecloselyrelatedtothecompany’sbusinessoperationsandgainedatafixedamountorquantityaccordingtonationaluniformstandards) | 35,999,768.69 | |
| Gainsorlossesfromentrustingotherswithinvestmentorassetmanagement | 34,265,617.23 | |
| Reversalofimpairmentprovisionofaccountsreceivablethathaveundergoneimpairmenttestalone | 4,843,660.00 | |
| Othernon-operatingincomesandexpensesbesidestheaboveitems | -21,265,876.15 |
| Effectofminorityequity | 12,508.07 | |
| Total | 54,332,020.61 | -- |
Detailsofotherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitandloss:
□Applicable√N/ATheCompanyhasnootheritemsofprofitandlossthatmeetthedefinitionofnon-recurringprofitandloss.Explanationsforclassifyingnon-recurringprofitandlossitemsenumeratedintheExplanatoryAnnouncementNo.1forPublicCompanyInformationDisclosures–Non-recurringProfitsandLossesasrecurringprofitandlossitems:
□Applicable√N/A
2.Returnonequityandearningspershare
| Profitforthereportingperiod | Weightedaveragereturnonequity(%) | Earningspershare | |
| BasicEPS(RMB) | DilutedEPS(RMB) | ||
| NetlossattributabletotheCompany’sordinaryshareholders | 16.25% | 1.17 | 1.17 |
| Netprofitattributabletotheparentcompany’sshareholdersafterdeductionofnon-recurringprofitorloss | 15.83% | 1.14 | 1.14 |
3.AccountingdatadifferencesarisingfromaccountingstandardofthePRCandtheInternationalAccountingStandards
(1)DifferencesinnetprofitsandnetassetsinthefinancialreportsdisclosedconcurrentlyunderinternationalaccountingstandardsandChineseaccountingstandards
□Applicable√N/A
(2)DifferencesinnetprofitsandnetassetsinthefinancialreportsdisclosedconcurrentlyunderoverseasaccountingstandardsandChineseaccountingstandards
□Applicable√N/A
(3)Descriptionofthereasonsforthedifferencesinaccountingdataunderdomesticandforeignaccountingstandards,andincaseofthedifferencesbeingadjustedforthedataauditedbyanoverseasauditinstitution,indicationofthenameoftheoverseasinstitution
4.Others