Company code: Oriental Pearl Group Co.Ltd(600637) company abbreviation: Oriental Pearl Group Co.Ltd(600637) Oriental Pearl Group Co.Ltd(600637)
Summary of annual report 2021
Section I important tips
1 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 go to www.sse.com com. cn. The website carefully reads the full text of the annual report. 2. The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee the authenticity, accuracy and completeness of the contents of the annual report, and there are no false records, misleading statements or major omissions, and bear individual and joint legal liabilities. 3. All directors of the company attend the board meeting. 4. Lixin Certified Public Accountants (special general partnership) issued a standard unqualified audit report for the company. 5. The profit distribution plan or the plan of converting accumulation fund into share capital in the reporting period adopted by the resolution of the board of directors
The company plans to distribute cash dividends of 2.70 yuan (including tax) to all shareholders for every 10 shares. As of December 31, 2021, the total share capital of the company is 3414500201 shares, which is 3361899817 shares after deducting 52600384 shares in the company’s special repurchase account. Based on this calculation, the cash dividend to be distributed is 90771295059 yuan (including tax), and the amount used for share repurchase by the company in 2021 is 5 Ping An Bank Co.Ltd(000001) 5778 yuan. According to the above provisions, the proportion of cash dividend of the company in this year is 75.67%.
The company plans to send 0 bonus shares for every 10 shares to all shareholders and increase 0 shares with accumulation fund.
In view of the existence of repurchased shares in the company, the company will take the number of shares on the equity registration date of implementing the profit distribution plan minus the number of shares in the company’s special repurchase account on that day as the base, and adjust the total profit distribution according to the principle of unchanged distribution amount per share.
If the total share capital of the company changes from the date of disclosure of this plan to the date of equity distribution and equity registration, the company plans to adjust the total amount of distribution on the principle of maintaining the same amount of distribution per share. In case of subsequent changes in the total share capital, the specific adjustment will be announced separately.
Section II basic information of the company
1 company profile
Company stock profile
Stock type stock exchange stock abbreviation stock abbreviation before stock code change
A-share Shanghai Stock Exchange Oriental Pearl Group Co.Ltd(600637) blockbuster
Contact person and contact information: Secretary of the board of directors
Name: Ji Feifei
Office address: No. 757, Yishan Road, Xuhui District, Shanghai
Tel: 02133396637
E-mail [email protected].
2. Introduction to the company’s main business in the reporting period
Oriental Pearl Group Co.Ltd(600637) is a unified industrial platform and capital platform under Shanghai radio and television station and Shanghai culture, radio, film and Television Group Co., Ltd. (SMG). The company has China’s Omni channel video integration and distribution platform and unique cultural content, entertainment consumption and other resources. Its online business specifically includes all media channels such as cable TV, IPTV, Ott and mobile Internet terminals, TV shopping, video shopping, film and television drama production and distribution, copyright management and game business. Its offline business includes around Oriental Pearl Group Co.Ltd(600637) radio and television tower Shanghai Pudong international tourism, exhibition and entertainment center, Shanghai Oriental Hotel and other cultural tourism, exhibition and entertainment centers. Through the integration and connection of Wuxi Online Offline Communication Information Technology Co.Ltd(300959) business, the company meets the people’s increasing demand for quality life.
The company has won the “top 100 Internet enterprises in China” and “top 100 enterprises in Shanghai”, and has been selected as China’s “top 30 cultural enterprises” for 10 consecutive years.
(1) The party and the state have continuously issued relevant policies, and the tide of digital economy development has brought new opportunities to the industry
2021 is the first year of the 14th five year plan, the opening year of marching towards the second Centennial goal, and the centenary of the founding of the Communist Party of China. In March, the outline of the national 14th five year plan was officially released, further emphasizing the promotion of deep media integration and the strengthening of new mainstream media. In June, the Ministry of culture and tourism issued the “14th five year plan” for the development of cultural industry, which made systematic deployment and guidance on the development of new cultural formats, the innovation and application of cultural science and technology, the innovation of development ecosystem, and the integrated development of cultural industry. In January 2022, the State Council issued the “14th five year plan” for the development of digital economy, which focuses on the development of digital economy, focusing on information network infrastructure, data quality improvement, data factor market, digital transformation, digital technology innovation and other aspects. In the 2022 work report of Shanghai municipal government, the Shanghai municipal government also proposed to make concerted efforts to promote the digital transformation of the city, accelerate the construction of an international digital capital with world influence, and accelerate the digital transformation of economy, life and governance. A series of policies point out the direction and bring new opportunities for the development of media, Internet, cultural tourism and other industries.
(2) Video companies continue to improve their profitability by improving their content production and platform operation capabilities, and continue to expand their development space by exploring overseas markets and yuanuniverse
The number of members of China’s three major long video platforms has entered the era of “100 million”, the growth has peaked, and the penetration rate of e-commerce has stabilized. The core logic of streaming media video platform is still that content is the king. The continuous output of high-quality content is the basis to ensure the continuous flywheel effect of “users bring income, income input content and content attract users”. China’s leading video platform is continuously improving its profitability by exploring overseas markets, industrialization of content production and optimization of operation efficiency. Video content and e-commerce services continue to be deeply integrated, and the operation efficiency is improving day by day.
The large screen market represented by IPTV and Ott has gradually entered the stock competition market. By virtue of the advantages of Ott and IPTV platforms, they are gradually participating in the field of IPTV services.
With the further improvement of the secondary broadcast control system and the continuous improvement of IPTV’s Internet transformation and smart middle station capability, IPTV in all provinces will continue to strengthen in-depth cooperation, fine operation and vertical field operation of Internet content platform. With the deepening of cross screen smart marketing and the exploration of vertical operation, the diversified operation potential of Ott will be further highlighted.
With an eye to the future, metauniverse, as a new Internet application and social form integrating virtual reality produced by integrating a variety of new technologies, has great development potential. The leading enterprise of meta universe represented by Internet companies has gradually expanded its extension and explored the ecology of meta universe based on the core needs of users (such as information, social networking, entertainment, shopping, etc.) in the era of Internet and mobile Internet.
(3) 5g. Smart city construction brings new opportunities for wired network development
Although the reduction trend of the actual number of cable TV users in China slowed down in 2021, the cable TV network industry is still generally faced with intensified competition, loss of users, increased costs, declining profits and so on. In this context, cable TV network listed enterprises actively expand government and enterprise business, and explore the construction of smart cities, public services, grass-roots social governance and other fields.
The integration of State Grid and the construction of radio and television 5g bring new opportunities for the development of wired network. China Radio and television will give full play to the unique advantages of radio and television 5g network coverage and ecological resources in the media field, strive to build radio and television 5g NR broadcasting, build radio and television 5g application platform, explore the development of 5g channels, and provide guaranteed and characteristic 5g services combining political, civil, industrial and commercial use. At present, China Radio and television has fully launched the construction of base station, its own core network and boss system, built a 5g and wired integrated market system, launched the internal user-friendly number release test of section 19210701, focused on key fields such as media, energy and government affairs with the strong support of competent departments, and carried out more than 100 radio and television 5g demonstration applications nationwide.
(4) The recovery of cultural tourism industry presents structural characteristics, and the upgrading of experiential cultural tourism helps the high-quality development of the industry
According to the data of the Ministry of culture and tourism, the total number of Chinese tourists in 2021 was 3.246 billion, recovering to 54.0% in the same period in 2019 (a year-on-year increase of 12.8%); China’s total tourism revenue (total tourism consumption) was 2.92 trillion yuan, recovering to 51.0% in the same period in 2019 (a year-on-year increase of 31.0%).
Affected by the epidemic, the tourism market has been hovering at a low level for two consecutive years, but the industry recovery shows structural characteristics. On the one hand, the normalization of the epidemic also forces cultural and tourism attractions to accelerate the digital transformation and further develop smart tourism. For example, marketing models such as strengthening private domain traffic and immersive experience products such as virtual scenic spots and digital museums are adopted to better serve tourists. On the other hand, the development momentum of emerging mass tourism segments such as historical and cultural resources and contemporary lifestyles is still good. According to the 2020 and 2021 China tourism development reports of China Tourism Research Institute under the Ministry of culture and tourism, in recent years, consumer groups and market players have expanded to third and fourth tier cities, driving the market heat of rural scenic spots to increase significantly; At the same time, cultural leisure has become the people’s living needs. Under the influence of the normalization of the epidemic, the development of local leisure tourism resources such as theme business districts and urban parks has been further concentrated.
Business of the company during the reporting period
1. During the reporting period, with the continuous promotion of the strategy of “bestv + streaming media video platform”, by building bestv + streaming media video platform, the company’s business was further divided into online and offline businesses, of which the online business was divided into streaming media business and Shaanxi Broadcast & Tv Network Intermediary(Group)Co.Ltd(600831) business, as follows:
Online business:
(1) Streaming media service:
Take the Internet as the main carrier, gather and integrate online core resources such as products, content, channels and shopping, accelerate the creation of a series of multi terminal, multi-form and multi-functional new media products of bestv + streaming media video platform, and provide users with solutions for high-quality lifestyle through the integration and transformation of radio and television media in the mode of “content + e-commerce” and “content + service”. Streaming media business is mainly composed of Dongfang dragon, blockbuster, Oriental Shopping, Shangshi Wuan, cultural development, copyright operation center and other corporate departments, specifically including all media channels of TV, computer, mobile phone, pad and other terminals connected through communication network, Internet and mobile Internet. Its business covers content operation, TV shopping, video shopping, film and television drama production and distribution, copyright management, game business and other fields.
(2) Shaanxi Broadcast & Tv Network Intermediary(Group)Co.Ltd(600831) business:
With Shaanxi Broadcast & Tv Network Intermediary(Group)Co.Ltd(600831) as the main carrier, continue to promote the integration and development of radio and television media, the integration of State Grid, the construction of radio and television 5g and other important tasks. At the same time, do a good job in supporting and coordinating the strategy of “bestv + streaming media video platform”, promote the transformation and upgrading of its own business and enhance its influence in the industry and region Shaanxi Broadcast & Tv Network Intermediary(Group)Co.Ltd(600831) business is mainly composed of Oriental cable, culture and broadcasting interaction, etc. Specifically, it includes the only cable TV network operating resources in Shanghai and the industry-leading next-generation radio and television network, which provides cable TV, home broadband, interactive TV, enterprise data and other full-service operator services; As one of the leading integrated broadcasting and control operation platforms of cable digital pay channels in China, it provides digital TV integrated operation, interactive TV, professional channel industry operation and other services for the whole country.
Offline business:
(3) Cultural and tourism business:
It has Oriental Pearl Group Co.Ltd(600637) radio and television tower, Shanghai International Convention Center (Oriental Riverside Hotel), Mercedes Benz cultural center, Oriental Green Boat and many other rare and symbolic cultural tourism resources in Shanghai. Based on this, it fully integrates offline resources and channels, and speeds up sightseeing, Pujiang sightseeing, hotel catering, Conference and exhibition, on-site performance, dance production Upgrade the user experience and operation mode of cultural tourism and cultural real estate development and operation businesses such as international China tourism, vacation and leisure, outdoor expansion, and actively drain the online bestv + streaming video platform through the development of a series of offline projects such as immersive performance, scene experience, offline events and special program recording, so as to promote more accurate and effective linkage of “Online + offline”. Promote the implementation of offline cultural industry projects nationwide, focus on building multiple smart cultural industry clusters, and provide corresponding cultural and technical services.
Culture and tourism business is mainly composed of Oriental Pearl Group Co.Ltd(600637) radio and television tower, international exchange company, Shanghai International Convention Center (Oriental Riverside Hotel), Oriental Pearl Group Co.Ltd(600637) real estate, radio and television production, anschuz, international travel agency, Oriental Green Boat enterprise management, Oriental Green Boat Hotel, Eastern Green Boat Resort, qichongtian Hotel and other companies.
2. Business model of the company
In 2021, the company took the strategy of “bestv + streaming video platform” as the core, complied with the general trend of the overall upgrading and transformation of China’s social consumption, and fully integrated with the online new economy. Relying on 100 million scale users, the company cooperates with Shanghai radio and television station and Shanghai culture, radio, film and Television Group Co., Ltd. (SMG) to jointly build a “B + member” service system by developing Wuxi Online Offline Communication Information Technology Co.Ltd(300959) businesses such as streaming media, Shaanxi Broadcast & Tv Network Intermediary(Group)Co.Ltd(600831) , culture and tourism, so as to meet the growing cultural and entertainment consumption needs of users, provide users with all-round “quality life” services, and realize the business income and industrial value-added of the company, We will promote the sharing of industrial resources, the exchange of rights and interests, unified and decentralized coordination and cross empowerment.
3. The company’s market position and main performance drivers, etc
The company has China’s leading omni-channel video integration and distribution platform and unique resources such as cultural content and entertainment consumption. The company has won the “top 100 Internet enterprises in China” and “top 100 enterprises in Shanghai”, and has been selected as China’s “top 30 cultural enterprises” for 10 consecutive years.
The company’s streaming media platform is based on app, IPTV and ot
