The survey content is as follows:
1. The company's overall operations in the first half of 2021
Since 2020, the company has accelerated its strategic upgrade and focused on "cultural tourism + investment". The structure has been greatly optimized, the development foundation has been more solid, and the development speed has been significantly accelerated. In the first half of 2021, the company focused on the "cultural tourism + investment" strategy and accelerated the implementation, promoted various tasks, and achieved good results. It achieved operating income of 2.183 billion yuan and net profit attributable to shareholders of listed companies of 471 million yuan, achieving a year-on-year turnaround. (1) Operation of cultural and tourism business In the first half of 2021, the company's first new cultural and tourism project has been implemented, the development of mango series products has basically taken shape, and the pace of development of high-quality resources has accelerated. On May 28, 2021, the company and the Yiyang Municipal Government reached an agreement on the cooperative development of Yiyang 691 Time Town. Yiyang 691 Time Town is a vacation and leisure product that the company tries to develop and design specifically for the micro vacation market. There are unique and scarce products. Historical and cultural background, original ecological secrets, good geographical location and huge source market. The company will give full play to its operating management advantages and creative planning advantages in cultural tourism, and deeply integrate the advantages of Hunan Broadcasting and Television's advertising and IP resources, and strive to build it into a unique and explosive product of Hunan Broadcasting and Television. In terms of cultural tourism product research and development, the "Mango City" project has completed the preliminary planning and is actively advancing. The project is based on Hunan Radio and Television’s existing Changsha Window of the World, St. Fischer Hotel, Ferris Wheel International Cinemas and other high-quality cultural tourism products, and reorganizes the regional resources. An urban leisure and vacation destination with radio and television characteristics. In addition, the research and development of the first-generation products of the mango series such as Mango Paradise, Mango Adventure Paradise, and Mango Ocean Paradise have also been basically completed. In terms of resource development, relying on the company's unique competitive advantage and brand influence in the operation of the cultural and tourism industry, the company has accelerated the development of high-quality cultural and tourism resources. During the reporting period, the company conducted in-depth cooperation negotiations with a number of scenic custody and operation projects, and it is expected to accelerate the implementation in the future. The operation and performance of Changsha Window of the World have been fully restored. In the first half of 2021, it will achieve an operating income of RMB 77,776,800.The net profit was RMB 16,0.01 million. The operating conditions of the Saint-Jacques Hotel continued to improve. In the first half of 2021, it achieved operating income of RMB 85,685,800 and net profit of RMB 16,620,400. (2) Operation of venture capital business In the first half of 2021, Fortune Caizhi achieved a net profit of RMB 487,793,700, which broke a record high. Dachen Caizhi New Fund Dachen Chuanghong completed the first round of closing, with the first closing amount exceeding 5.5 billion yuan, and the final total size is about 6.8 billion yuan, continuing the industry record of maintaining over-raised funds in each phase. In the first half of 2021, there are 35 fund investment projects managed by Fortune Financial Intelligence (including 25 new projects), with a total investment of 1.937 billion yuan, and 20 new IPO applications, a record high; 9 companies have been reviewed and officially listed on the market 8 houses. (3) Operating status of advertising and game business Yunhong Communication's advertising business has gradually recovered through marketing integration and expansion of new streaming media platforms, and its losses have narrowed year-on-year. TVB Qianji Sky Screen UAV advertising is more competitive in the field of advertising, and the momentum is good. Shanghai Jiuzhirun's game business continues to grow steadily and is actively testing the trendy game business. In the first half of 2021, net profit was RMB 75,895,400, a year-on-year increase of 27.18%.
2. The company's cultural tourism business goals and models
The company currently aims to build the largest cultural tourism investment platform and the first brand of cultural tourism operations in Hunan Province. Give full play to the company’s advantages in creative planning and operation management in the cultural and tourism industry, and combine the high-quality IP resources and media resources of Hunan Broadcasting and Television to design and develop unique and replicable mango series cultural and tourism products with Hunan Broadcasting and Television characteristics. The “combination of light and heavy” approach refers to the combination of self-developed and cultivated products with investment and acquisition of mature products, and the combination of independent investment and development forms with light-asset models such as brand authorization operations and custody operations to carry out investment and cooperation in cultural tourism projects and quickly promote the implementation of strategies. The company's wholly-owned subsidiary Hunan Mango Cultural Tourism Investment Co., Ltd. is the company's cultural and tourism industry expansion platform, and various tasks are currently being accelerated.
3. The company's core advantages in developing cultural tourism business
(1) The company's rich operating experience and professional capabilities in the cultural tourism industry. The company has long established the concept of "operating the tourism industry in accordance with the laws of the cultural industry".And achieved dazzling results in industrial practice. Relying on its strong creative and marketing capabilities in cultural event planning and marketing, its Changsha Window of the World theme park has achieved rapid and healthy growth for more than ten consecutive years since its profitability in 2004; the company's five-star hotel-St. Fischer The hotel has ranked first in the industry in terms of operating income for two consecutive years, and won honorary titles such as the Advanced Unit of Civilized Tourism in Hunan Province and the Gold Award of Ctrip.com's Most Popular Hotel. Changsha Window of the World and St. Fischer Hotel will still achieve profitability despite the severe impact of the epidemic in 2020, showing good operational capabilities and resilience to shocks. (2) Hunan Radio and Television has unique advantages in IP resources and media resources. Backed by Hunan Broadcasting and Television, the company will make full use of Hunan Broadcasting's high-quality IP resources and media advertising and promotion advantages to carry out in-depth development of cultural tourism, realize the deep integration of media and cultural tourism, and create explosive cultural tourism products with unique Hunan Broadcasting characteristics. (3) The company's awareness of market operation. The company has a strong sense of marketization in terms of talent incentive mechanism and industrialization operation. At the same time, the successful operation experience and professional ability of investment business will also help the expansion of cultural tourism business.
4. Industry status of the company's venture capital business
The company's venture capital business is at the top of the country. Dachen, a subsidiary of the company, is my country's first batch of venture capital institutions established according to market-oriented operations, and has now developed into one of the most influential venture capital institutions in China, and has been among the best for many years. For the 17th consecutive year, Dachen has been rated as "China's Top 50 Venture Capital Institutions" by the industry's authoritative appraisal organization Zero2IPO Group. "Good withdrawal from venture capital institutions" and other honors. As of June 30, 2021, Fortune Caizhi has managed a total of 25 funds, with a total fund size of 36 billion yuan; more than 600 investment companies have successfully exited 212, of which 116 companies have been listed, and a total of more than 90 companies have been listed. Listed on the New Third Board.
5. The main profit model of Fortune Caizhi
There are three main sources of profit for Fortune Caizhi: income from direct investment and allotment project exit, income from fund management fees and excess income sharing.
6. Reasons for the rapid growth in operating income of Dachen Caizhi in the first half of 2021
In the first half of 2021, its rapid growth in operating income was mainly due to the newly raised funds.The scale of managed funds expanded and fund management fee income increased.
7. The next step of the company's investment business
The company's investment business will give full play to the leading industry research capabilities, investment management capabilities and brand advantages of Dachen Caizhi in the investment business field, and seize the economic development and industrial upgrading of my country As well as the capital market reform opportunities such as the registration system, while strengthening the main business of VC, it will promote the extension of the industrial chain, expand the business product line, form a closed loop of investment and exit for VC, PE, mergers and acquisitions, achieve business model upgrades, and expand fund management scale , To create a benchmark for the venture capital industry and a large asset management platform.
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