Series of promotional articles on the investor protection special action of "Being an Honest and Trustworthy Listed Company" (Part 5)
Release time：
2020-06-18
Becoming a leader in the digital economy of Zhejiang and domestic media
Zhejiang Daily Digital Culture Group Co., Ltd
Managing Director Zhang Xuenan
Zhejiang Daily Digital Culture Group Co., Ltd. (Stock Code: 600633.SH), Referred to as: Zhejiang Digital Culture) was born in China's first company, Zhejiang News Media Group Co., Ltd., which was listed as a whole by the media operational assets of the newspaper group. Since its listing in 2011, focusing on the development goal of becoming "the leader of Zhejiang and domestic media digital economy", relying on the party newspaper resources and capital platform advantages, grasping the policy and industry development opportunities, promoting the reform of the system and mechanism and industrial innovation and transformation, it has successfully developed from a traditional newspaper listed company to an industrial group with Internet digital culture business as the core. At present, its main business focuses on digital entertainment, big data, digital sports and other core businesses, focusing on building digital culture and the government digital economy enabling platform, and focusing on the development of e-commerce services, art services, etc. Cultural industry services and cultural industry investment business, At the same time, we will concentrate resources to build a multimedia business sector, vigorously serve the national media integration development strategy, promote the company's high-quality and sustainable development, and be praised by the capital market as a benchmark for innovation and transformation in the state-owned media industry.
Since its listing, the company has strictly complied with laws and regulations such as the Company Law and Securities Law, as well as institutional provisions such as the Articles of Association. With high-quality information disclosure as the core, the company has implemented strict risk control, prevented insider trading, achieved standardized development, and fully protected the rights and interests of investors. On March 1st of this year, the newly revised Securities Law of the People's Republic of China officially came into effect, marking a new stage of development in the legal construction of China's securities market. It provides a more complete and solid legal guarantee for further improving the overall quality of listed companies and strengthening the protection of investor rights and interests.
The company will take the implementation of the new Securities Law as an opportunity, continue to focus on protecting the rights and interests of investors, aim to create value for shareholders and society, plan for development with reverence, actively practice high-quality development under standardized operation, work together and forge ahead, and strive to create value for investors and the capital market.
1、 Realize industrial innovation and transformation, forge core competitiveness of enterprises, and fully create value for investors
The company is a listed company that has earlier laid out the Internet digital culture industry in China. Taking full advantage of the first mover advantage of the capital market, it has always maintained its continuous innovation ability in the reform of the system and mechanism and transformed it into full power. It has always been at the forefront of the industry in strategic planning, industrial layout and other aspects. It adheres to both endogenous development and external mergers and acquisitions, continues to improve the whole industry chain of digital culture, and speeds up transformation and upgrading.
After the successful backdoor listing in 2011, the company focused on the concept of "media control capital, capital expansion media" established before the listing, made every effort to move forward to the strategic goal of "Internet hub media group", and timely laid out Internet related fields; In 2013, the company completed its first non-public offering, acquiring Hangzhou Bianfeng and Shanghai Haofang to build a digital entertainment platform; In 2016, the company completed its second non-public offering, raising funds to build a "four in one" big data industry ecosystem; In 2017, the company implemented the second major asset restructuring, stripped off news media assets, focused on the core Internet emerging industries with good development prospects and completed in-depth layout, such as digital entertainment, big data, digital sports, and at the same time, through investment, incubation, and intervention in high-tech fields such as artificial intelligence, further improved the ecological chain of each industry; In 2018, the company completed a new round of three-year planning, further focusing on two major areas: digital culture and government digital economy empowerment platform, with the goal of becoming a "leader in Zhejiang and domestic media digital economy". The successive industrial reforms of Zheshu Culture have led the company onto a good development track. While enhancing the company's value, it has also created value for all shareholders, safeguarded their rights and interests, and achieved the unity of economic and social benefits.
On April 28th of this year, the company's 2019 annual report was officially released. In 2019, the company achieved a revenue of 2.827 billion yuan and a net profit of 690 million yuan, of which the net profit attributable to shareholders of the listed company was 508 million yuan, and the net profit attributable to shareholders of the listed company after deducting non recurring gains and losses was 279 million yuan. Revenue and net profit increased by 47% and 21% year-on-year, respectively, while net profit attributable to shareholders and net profit after deducting non shareholders increased by 6% and 12% year-on-year, respectively. Behind the steadily improving data lies the wisdom, courage, and hard work of all colleagues and partners in the company, which is also the best embodiment of the company's continuous breakthroughs in business and the continuous improvement of its core competitiveness.
During the reporting period, the company continuously strengthened its comprehensive competitive strength in the digital entertainment sector. As an important business segment of Zhejiang Digital Culture, Frontier Network maintained a strong growth momentum, firmly occupied the main market of the domestic Internet leisure game industry and continued to expand, continuing to strongly support the company's performance stability and growth. The digital sports sector is promoting overall transformation, focusing on esports business, and laying a solid foundation for further expanding and strengthening esports brands and expanding upstream and downstream industrial chains. At the same time, the company continues to enhance its market development capabilities in the big data sector. Fuchun Cloud has made breakthroughs in the construction of the Internet data center, achieved its profit goal, and actively developed various data value-added services based on high-quality IDC services. On the basis of the early practical experience of "Internet plus government service", the company has further sunk into the construction of new urban infrastructure and deeply participated in the construction of smart cities such as "Hangzhou City Brain" and "Digital Zhejiang". At the same time, relying on the resource endowment and technological accumulation of the party newspaper group and listed companies, the company actively explores new paths for media integration development, using short videos as a starting point, and fully builds a "integrated media cloud platform" that integrates content aggregation, review, distribution, and monetization. Zhejiang Daily Integrated Media Technology (Zhejiang) Co., Ltd., with a registered capital of 500 million yuan, has made a new appearance.
Looking back at the journey of the company after its listing, the company's goals, forms, products, teams, etc. have always been adjusted, optimized and developed according to the market situation, but one thing has never changed, that is, the concept and determination of firmly embracing the Internet to promote its own industrial innovation have not changed. Over the past eight years of exploration and practice, we have come to a profound understanding that strong resource integration capabilities are the core competitiveness of the company's development, unwavering innovation is the strong driving force for the company's development, stable capital operation is the "reservoir" for the company's development, and conducting business in accordance with laws and regulations is the lifeline of the company's development. Over the past eight years, we have made both strategic choices to follow the trend and tactical steadfastness to go against it. But with every leap and expansion, the company remains steadfast and strives tirelessly, using passion and hard work to achieve the "Zhejiang Daily Speed" of high-quality development.
Over the past eight years since its listing, the company's performance has maintained stable growth, with a cumulative net profit attributable to shareholders of the listed company of 5.233 billion yuan, continuously creating value for investors. The company's innovative transformation has also been recognized by regulatory authorities and investors. Exchange leaders have conducted special research and guidance on the implementation of the company's mergers and acquisitions, and fully affirmed the company's experience and achievements in exploring and implementing industrial transformation; The company has successively been selected as a sample stock of the Shanghai Stock Exchange Corporate Governance Board, the Shanghai 180 Index, and the Shanghai 300 Index, and has been continuously selected as one of the top 500 Asian brands in 2016 and 2017.
2、 Adhere to high standards of information disclosure, maintain a high proportion of cash dividends, and share development achievements with investors
Implementing the new securities law and adhering to high standards of information disclosure
At the beginning of its listing, the company established an investor communication and exchange system with information disclosure as the core, supplemented by multi-channel platforms such as SSE Interactive, official website, telephone, Weibo, WeChat, etc., continuously improving the actual effectiveness of investor communication. In the process of implementing major issues, the company strictly abides by relevant laws and regulations, proactively reports and communicates with securities regulatory authorities in advance, and timely and fully discloses the content that investors are concerned about. The company has received an A-level information disclosure rating from the Shanghai Stock Exchange for five consecutive years due to its high standards of information disclosure work.
The newly revised Securities Law has added special chapters on "Information Disclosure" and "Investor Protection", further improving the regulatory system for information disclosure, standardizing the specific content of investor protection, and increasing the punishment for violations of securities supervision laws. This provides a more comprehensive and solid legal guarantee for further improving the overall quality of listed companies and strengthening the protection of investor rights and interests. Around the newly revised Securities Law, the company will continue to focus on protecting the rights and interests of investors, adhere to high standards of information disclosure, ensure the timeliness and fairness of information disclosure, guarantee the authenticity, accuracy, and completeness of disclosed information, and achieve simplicity, clarity, and easy understanding, safeguarding investors' right to know.
Improve communication channels and build investor relationship bridges
In recent years, influenced by the macroeconomic environment at home and abroad, the overall A-share market has declined. In order to stabilize the company's equity structure and maintain its market image, the company has increased its efforts in investor relations management, arranging multiple face-to-face communications with investors in Beijing, Shanghai, Guangzhou, Shenzhen, and other places, timely transmitting information on the company's business performance, institutional innovation, industrial structure optimization and adjustment, enhancing investor interaction and communication, and improving market recognition of the company. After regular reports and major events are released, the company promptly organizes performance briefing meetings, where the chairman, executives, and relevant subsidiary leaders meet face-to-face with industry researchers and investors to exchange information on the company's development strategy and business situation. They also participate in the online collective reception day for investors of listed companies in their jurisdiction organized by the securities regulatory department. Since going public, the company has received more than 2000 investors.
In the daily investor communication, the company has actively and seriously replied from mergers and acquisitions, private offerings, daily operations and three meetings through multiple channels such as the SSE E interactive platform, telephone, WeChat official account, etc., and has established a good investor interaction relationship through timely and full communication, which has better protected the investors' right to know.
The company actively participates in activities related to investor protection organized by listed company associations at all levels, takes the initiative to assume corresponding social responsibilities, and strives to contribute to the sustainable and healthy development of the capital market. A good atmosphere for serving small and medium-sized investors.
Maintain a high proportion of cash dividends and continue to give back to investors
As an important component of investor protection, cash dividends from listed companies are the best feedback and protection for investors. Zheshu Culture has always attached great importance to sharing business results with investors. At the beginning of its listing, it included cash dividend requirements in the company's articles of association and implemented a higher proportion of cash dividend policy than the statutory requirements. Within nine years, the cash dividend ratio exceeded 50% in three years, and as of 2019, the cumulative cash dividend has exceeded RMB 1.353 billion.
Faced with recent stock market fluctuations, the company and its controlling shareholders have taken timely measures to stabilize the company's stock price, boost market confidence, and protect investor interests. In 2015, in response to the call of the China Securities Regulatory Commission to stabilize the stock market, the company's management increased its holdings with its own funds, while the controlling shareholder increased its holdings with its own funds by nearly 100 million yuan; In 2018, influenced by the domestic and international environment, the company launched a share repurchase plan as soon as possible, despite good fundamentals but a significant decline in stock price. It used its own funds of 307 million yuan to repurchase 36193430 shares of the company's shares, accounting for 2.78% of the total share capital. The controlling shareholder also implemented another 100 million yuan increase plan to boost investor confidence. The above measures not only convey the confidence of the company and its controlling shareholders in the future development prospects of the company, but also demonstrate the company's determination and responsibility to protect the rights and interests of investors, and have received unanimous praise from securities regulatory authorities and investors.
3、 Enhance the ability to seek opportunities in times of danger, persist in accelerating the transformation of kinetic energy, and play a new chapter in the future
Entering 2020, the current global pandemic, financial market turbulence, and ongoing economic and trade frictions have intensified the severity, complexity, and uncertainty of global economic and social development, posing a crisis. This year will not only be a turning point in the global landscape, but also a critical turning point for many industries and enterprises. How can we maintain strategic determination and continue to empower us to move forward?
Not long ago, General Secretary Xi Jinping visited Zhejiang again in the spring breeze and rain for inspection. The whole province was greatly encouraged and felt uplifted. General Secretary Xi Jinping pointed out that "danger and opportunity always coexist, and overcoming danger is the opportunity." He earnestly hoped that Zhejiang would "strive to become an important window for comprehensively demonstrating the superiority of the socialist system with Chinese characteristics in the new era." This is the new goal, new positioning, and new mission proposed by General Secretary Xi Jinping for Zhejiang.
As the first state-owned cultural enterprise to go public in Zhejiang Province, Zhejiang Shu Culture has always been at the forefront of industrial innovation and institutional reform, and is also a pioneer and explorer of the digital economy. We will strengthen our confidence in self-development, strive to improve our ability to turn crisis into opportunity, seize the strategic opportunities of Internet, big data technology innovation and cultural industry development, and open innovation channels to reshape the industrial pattern.
In the new year, the company will firmly grasp the trend of "new consumption", further optimize the layout of the digital entertainment industry based on Bianfeng Network, while maintaining stable growth in domestic gaming business, further expand overseas business layout, increase technology research and development and market expansion efforts, explore the possibility of applying artificial intelligence to leisure, social, cultural and other digital entertainment fields, and promote cultural products to "go deep" and "go global".
In the new year, the company will seize the opportunity of "new infrastructure", constantly strengthen the leading position of "Fuchun Cloud" Internet data center in the industry, actively seek new expansion opportunities, further explore the expansion of upstream and downstream related extension services of the industrial chain based on high-quality IDC resources, and promote Fuchun Cloud to become a new growth point of the company's business performance. At the same time, further investment will be made in the construction of smart cities and smart government, such as "City Brain" and "Digital Zhejiang", to help Zhejiang's digital transformation continue to lead the country.
In the new year, the company will spare no effort to stimulate the new vitality and new potential of the content industry under the deep integration of media, integrate resources to promote the construction of the financial media platform with high standards, boost the financial media business sector to quickly achieve independent and clear market-oriented operation, focus on building the "Tianshu" financial media cloud platform, complete the grafting and integration of the "Tianmu" financial media cloud platform resources, and actively explore the organic combination of the financial media platform with big data, artificial intelligence, blockchain and other high-tech, initially forming an Internet content aggregation system, operation system, communication system and business system that meet the mainstream value.
In the new year, the company will also vigorously promote the construction of the Zhejiang Digital Culture Industrial Park project, further meet the strategic needs of the company's future development, realize the industrial agglomeration effect, and create a new landmark for the convergence and development of Internet digital culture.
The future has come, it is approaching. What is uncertain is the environment, what is certain is ourselves. In this era of unprecedented changes, with the integration and development of the media industry truly entering a deep water zone, and in the current situation where the COVID-19 pandemic has forced the digital economy to leapfrog development, we are firmly confident, holding hands and moving forward, committed to connecting digital technology to a better life. This is our common pursuit and hope now and in the future, as well as our firm determination and confidence in development and breakthroughs.
In the new year, the company will continue to uphold the concept of high-quality development, always adhere to the belief of investor protection, effectively shoulder the responsibility and mission of protecting investors' rights and interests, and make unremitting efforts to promote the construction of a good capital market environment, creating more and higher value for shareholders.
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