Securities code: Mango Excellent Media Co.Ltd(300413) securities abbreviation: Mango Excellent Media Co.Ltd(300413) Announcement No.: 2022022 Mango Excellent Media Co.Ltd(300413) 2021 annual report summary
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
The audit opinion of Tianjian Certified Public Accountants (special general partnership) on the company’s financial report this year is: standard unqualified opinion. Changes of accounting firm during the reporting period: the accounting firm of the company has not changed this year, and it is Tianjian accounting firm (special general partnership). Tips on non-standard audit opinions □ applicable √ not applicable the company was not profitable at the time of listing and is not profitable at present □ applicable √ not applicable to the profit distribution plan of common stock or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors √ applicable □ not applicable
The company’s profit distribution plan for ordinary shares reviewed and approved by the board of directors is: take 1870720815 shares as the base, distribute cash dividends of 1.30 yuan (including tax) to all shareholders for every 10 shares, give bonus shares of 0 shares (including tax), and transfer capital reserve to all shareholders for every 10 shares.
Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Mango Excellent Media Co.Ltd(300413) stock code Mango Excellent Media Co.Ltd(300413)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Wu Jun, Huang Jianyong
Office address: Hunan Changsha Golden Eagle film and Television Culture City Hunan Changsha Golden Eagle film and television culture city
Fax (0731) 82897962 (0731) 82897962
Tel: (0731) 82967188 (0731) 82967188
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period
(1) Industry of the company during the reporting period
1) The main front, the main battlefield and the forefront, and the media integration is advancing in depth
The resolution of the CPC Central Committee on the major achievements and historical experience of the party’s Centennial struggle proposes to attach great importance to the construction and innovation of communication means, promote the integrated development of media, and improve the communication, guidance, influence and credibility of news and public opinion. The Party attaches great importance to the Internet as the main front, main battlefield and forefront of ideological struggle, improves the Internet leadership and management system, adheres to the rule of law, and creates a clean cyberspace. With the promulgation and implementation of the anti monopoly guide on the platform economy, as well as the continuous and in-depth implementation of the comprehensive rectification in the cultural and entertainment field and the “Qinglang” series of special actions, the internal and external development elements in the Internet industry and cultural media field have been further standardized, the disorderly competition has been effectively curbed, and the industry order has been further clarified. Long term ism, content independence, integrity and innovation have become a new consensus for the development of Internet content platforms in the new era. 2) The video industry has entered the stock era, and the market cognition, development mode and underlying logic have changed
QM’s 2021 China Mobile Internet annual report shows that by the end of 2021, China’s mobile Internet users had reached 1.174 billion, the overall coverage of mobile Internet has become saturated, the scale of users has maintained a small growth, and the number, activity and market penetration of users have entered the era of stock competition. The market cognition, operation thinking and development underlying logic of the long video industry have ushered in fundamental changes. The flow oriented expansion has come to an end. The development model of burning money and losses for market share is hard to return. The growth of the scale of subscription members and paying members of some platforms has stalled. Under the changing situation, the development of the long video industry has ushered in new opportunities. Returning to the essence of content creation, improving the conversion rate of stock users, and refining the operation of the member service ecosystem have become the winners and losers of the new pattern of the video industry.
3) The Internet advertising market is stable and improving, and media content marketing has become the core driving force for the growth of the industry
According to the 2021 China Internet advertising data report and QM data, the total scale of advertising and marketing market has increased by more than 11% over the previous year. The Internet advertising market has maintained a good development trend. The online product consumption time and interaction frequency of content media users, including video platforms, have increased continuously, which has promoted brands to pay more attention to content operation. The overall market share of content marketing has continued to expand, and the growth rate of effect advertising is close to 60%. In the field of streaming media and long-term video advertising, the market position of a comprehensive platform with the content ecosystem of the whole industry chain has been continuously consolidated. The overall advantages of the comprehensive video platform in terms of the conversion rate of advertising consumer market terminals, customer stickiness, IP premium and brand extension continue to deepen, and the head advertisers further converge on the head new media platform.
4) The user volume, content quality and technical standards have been upgraded, and the development of IPTV smart large screen has been further accelerated
According to the statistical bulletin of communication industry in 2021, the total number of IPTV users in China reached 349 million in 2021, with a net increase of 33.36 million in the whole year. The three major telecom operators have 536 million broadband users, and the penetration rate of IPTV to fixed broadband users exceeds 65%. According to the research of digital TV research’s pay TV forecast report in the Asia Pacific region, it is estimated that 44 million IPTV users will be added in China from 2021 to 2027. IPTV based smart large screen users show the core characteristics of high trust of viewers and high stickiness of paying users. The continuous emergence of high-quality content, the rapid promotion of 4K / 8K ultra-high definition standard, intelligent recommendation, the popularization of waterfall flow form display and the improvement of user experience have all become the main driving factors for the development and upgrading of smart large screen industry.
5) The content industry has improved quality and reduced volume, and the market share of positive energy and theme projects has increased steadily
According to the 2021 variety annual insight report of Yeen data, the variety output has decreased for three consecutive years, with a year-on-year decrease of more than 5% in 2021. 428 variety shows were launched throughout the year. The relevant policies in the entertainment field have been further upgraded and improved, the adverse trends such as traffic speculation and excessive entertainment have been effectively curbed, and positive energy works continue to lead the industry. The traditional systematic advantages of the long video platform in the variety field are still stable. The short video platform actively tests the water and seeks breakthroughs in vertical innovative variety shows, and many types of medium, short and micro variety shows have emerged as a new attraction in the industry. In terms of film and television dramas, the number of domestic dramas online in the whole year decreased year-on-year, and the past development models of industries such as traffic stars and hot speculation entered a ebb period. Excellent dramas with good intention, good story and good reputation and respecting the aesthetics of the audience became the focus of the market. The main theme and hot theme dramas win with quality, win both public praise and popularity, and the market performance of the head dramas of the category is bright. The collection of short plays has developed rapidly, and the branding, intensification and normalization of high-quality short plays have become a new direction for the streaming media long video platform; Creative network micro dramas and IP derivative dramas continue to develop to further meet the diversified needs of increasingly rich market segments.
6) Strengthening content copyright protection has become an industry consensus to promote the benign development of two-way integration of long and short videos
In 2021, a number of content industry associations, video platforms and film and television companies jointly participated in promoting the release of the joint statement on the protection of film and television copyright, the 2021 white paper on the protection of short video copyright in China, and the detailed rules on the standards for the review of online short video content, and jointly urged the producers and operators of short video platforms and public accounts to respect originality and protect copyright, Various specifications and standards in the field of short video have been further refined and improved. The upgrading of copyright protection norms in the long and short video industry has become an industry consensus, and the awareness of copyright protection of major market players has been strengthened as a whole. The long video platform continues to be based on the IP of high-quality variety shows, dramas, films and other head content products, actively innovate medium and short micro video products, continuously increase the strength of business incentives and traffic support, actively promote the ecological extension of the platform pugc, and increase the market share of derivative micro variety shows and excellent micro dramas. The short video platform continues to increase the investment in the ecological construction of self-made professional content, diversify and broaden the flow distribution channels, and further cultivate and sink the overseas market. The realization of user value of “short video + e-commerce” is still the main direction.
7) The meta universe industry is in the ascendant, and virtual human, VR / AR and digital collections lead the innovation trend of the content industry
The frontier technologies in the meta universe represented by digital virtual human, vr/ar, digital twins, digital collections and other new industrial trends, as well as the exploration of the construction of next-generation Internet forms, have attracted worldwide attention. Social networking, games, e-commerce, advertising and long and short video platforms have entered the market. Virtual content creation, encryption protection of copyright blockchain and digital circulation of assets have become the innovation trend of the cultural media industry. The integration of industry, University and research of innovative entities has been launched simultaneously to jointly promote the transformation and implementation of metauniverse related technologies. Focusing on the consumption and upgrading needs of new content with young audiences as the core, the applications of various software and hardware products continue to emerge, boosting the innovation of high-quality content IP, driving the rapid upgrading and iteration of relevant cutting-edge technologies and business operation modes, and meta cosmic business innovation such as new interactive content, 3D virtual social networking, virtual and real shopping consumption has become a hot spot in the market.
8) The innovation and competition of content e-commerce has become intense, and the ecological closed-loop construction of vertical platforms has been further strengthened
QM annual report shows that e-commerce shopping has developed steadily, and the scale of mobile end users has exceeded 1.1 billion. Under the new market pattern, the competition for customer traffic by various e-commerce socialized, community-based and content-based operations has become white hot, sinking the market as the main source of incremental users, and the efficiency advantage of “planting grass” transformation of new content e-commerce has been further upgraded. Major e-commerce platforms continue to innovate and produce “grass planting” content, reach different types of potential users through multiple channels, forms and segments based on intelligent algorithms, and promote multi-dimensional binding and deep coupling between audiences and content, products, brands and platforms. By reconstructing elements such as people’s and goods yards, the new content e-commerce continues to upgrade the past “shopping environment” to “social + shopping environment”, combined with multiple scenes and new digital technology to create an immersive shopping experience to improve liquidity efficiency. Join hands with head IP, creative content, professional artists and KOL talents. All platforms actively explore new e-commerce modes, link new e-commerce distribution channels such as medium and short-term content, IP derivation and live delivery, use content as a means to improve users’ purchase intention, and finally form an organic cycle in which adults, goods and content coexist and promote each other.
(2) Main businesses of the company during the reporting period
The company is the first state-owned new media company in the A-share market with the characteristics of integrated development and mastering the core industrial chain of all channels and content ecology. It is also a unified financial media industry and capital operation platform under Hunan Radio, film and Television Group Co., Ltd. (Hunan Radio and television station). The company’s main businesses include mango TV Internet video business, new media interactive entertainment content production and content e-commerce business. Relying on Mango’s characteristic financial media ecology and taking the operation of Internet video platform as the core, the company has built a whole media industry chain ecology of upstream and downstream collaborative development, including members, advertising, IPTV, Ott, film and television dramas, variety shows, artist brokerage, music copyright operation, IP Derivative Development, live entertainment, content e-commerce, etc.
1) Mango TV Internet video service
Mango TV Internet video business is mainly divided into advertising, membership and operator business. Advertising business is mainly divided into soft broadcasting business and hard broadcasting business. Soft broadcasting business takes content as the core, fully explores the marketing value of high-quality content IP, and provides customers with naming, implantation and other advertising products; Hard broadcasting business provides customers with advertising services such as patch and plug-in. Membership business is divided into online and offline parts. Online membership business refers to the company’s advantage of rich copyright resources and high-quality independent broadcast content to attract users to buy membership packages through online consumption; Offline member business mainly attracts target audiences to become members through various forms of promotion activities. The large screen business model of operators is mainly to sign cooperation agreements with major operators and cable TV operators. The company provides content products, cooperates with marketing and marketing, and the two sides share the relevant income.
2) New media interactive entertainment content production
The company’s new media interactive entertainment content production business includes content production and operation, artist brokerage, music copyright, IP derivative development and live entertainment. The content production and operation business mainly includes the production of variety shows and film and television dramas and the operation of content copyright, which is the most concentrated embodiment of the company’s core competitiveness. As a leading content producer, on the one hand, the company produces high-quality and high-quality content through self-made, customized and other ways, transmits social positive energy, leads youth cultural value and realizes the social benefits of state-owned cultural enterprises; On the other hand, attract members and serve advertisers through high-quality content to achieve economic benefits. In terms of artist brokerage business, the company provides artists with all-round services from positioning, publicity, modeling and business endorsement by tapping and cultivating potential newcomers, forms a talent echelon with rich levels and complete types, and creates a closed-loop artist brokerage business by means of artists participating in film and television variety shows, commercial performances, brand concerts, brand endorsement and authorization of surrounding derivative products. In terms of music copyright business, based on the long-term accumulation and continuous rich music IP resources of artist brokers, the company carries out digital music licensing businesses such as online app licensing, overseas digital music licensing, game licensing, program use licensing, film and Television Soundtrack cooperation and so on. In the IP derivative development and live entertainment sector, the company relies on the advantages of mango IP, such as big detective, secret room escape and other popular programs, carries out IP derivative authorization in multiple dimensions, arranges offline live entertainment business across the country, and creates m-city brand.
3) Content e-commerce business
The company’s content e-commerce business includes the happy shopping business segment transformed from traditional TV shopping to media e-commerce, and the Xiaomang business segment of the vertical content e-commerce platform for young people based on the advantages of long video content.
