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Public company info - Nan Hai Corporation Ltd. , 00680.HK
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Nan Hai Corporation Ltd., 00680.HK - Company Profile
Chairman Yu Pun Hoi
Share Issued (share) 68,646,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: The Group is principally engaged in culture and media services, property development, enterprise cloud services, news media business and innovative business. Performance for the year: During the year, the revenue of this business segment was approximately HK$4,652.8 million (2018: HK$4,931.5 million). Loss before income tax was approximately HK$868.8 million (2018: HK$660.4 million). Business Review: Cinema Operation In 2019, the national gross box office in China amounted to RMB59.367 billion (excluding service charges), representing a year-on-year increase of 4.9%. The annual admission of audiences was approximately 1.728 billion, representing a year-on-year increase of 0.5%. There were 14 films, including 10 domestic films, with box office over RMB1 billion and 89 films with box office over RMB100 million. During the year, the cinema business of this business segment achieved a box office revenue (tax included) of RMB3,276 million (excluding service charges), representing a year-on-year decrease of approximately 1.9 %. The main reason for the decrease was due to the dilution of box office as a result of the opening of new cinemas in the PRC. Besides, in order to achieve higher return on investment, this business segment laid down stricter investment return requirements, affecting the speed of opening new cinemas to some extent. During the year, box office of the cinema business contributed to approximately 5.5% of the national box office revenue (tax included) with the admission of audiences of approximately 93.76 million, maintaining its No. 2 ranking among cinema investment and management companies throughout China. As at 31 December 2019, this business segment had an aggregate of 502 cinemas with 3,093 screens operating in 29 provinces (autonomous regions, municipalities) and 187 cities across China. In 2019, adhering to the “Film +” strategy, this business segment continued to perfect the consumer spending activities within the cinema premises and expand the scope of spending at cinema to enhance the operating efficiency of its cinemas and further consolidate its advantageous market position in China’s cinema operation. Leveraging on the economy of scale of the cinema operation, this business segment insisted upon an “user-oriented” approach centering around the demand from film-goers and deepened the “Film +” strategy by way of diversification of cinema scenario and comprehensive product exploration. Through the establishment of a pivot platform integrating culture, consumer spending and other industries, it materialized “serviceoriented”, “individuality-oriented” and “brand-oriented” focus. Besides, in order to enhance viewing experience and set up a multi-purpose cinema scenario, this business segment has also actively provided a wide variety of integrated entertainment including e-sports, live performance and other cultural activities, optimizing the utilization of the cinema premises and targeting a more diversified customer base with higher spending potential. Meanwhile, this business segment used big data to understand the spending and behaviour patterns of the film-goers and actively developed and deepened the reach to each film-goer by fully capitalizing on the time filmgoers stay in the cinema premises before and after viewing, further enhancing the conversion rate of cinema users. We believe that the ever-changing pattern of spending for experience caters to the spending behavior of those born after the 1990s and 2000s and has become a consumption trend in the film market. Currently, operation of this business segment’s big data-based membership system has achieved preliminary results. The member base has been expanding steadily with an ever-rising proportion of active members. Positive momentum has been formed among products, resources and members. This would further enhance the Group’s resources integration capabilities and brand influence. In 2019, cinema advertising business of this segment continuously provided the customers with marketing solutions covering the entire industry chain, established a marketing platform featuring multi-aspect consumer data, broader customer reach and deeper interaction with customers, by integrating the upstream and downstream as well as communication resources of the industry, enhancing product marketability and customer servicing capabilities. Moreover, based on the dual enhancement of business development capabilities and media resources reservation, a number of innovative marketing projects were completed, winning attention from film-goers and appreciation from advertisers. Dadi Film In 2019, growth of the overall film market slowed down. However, quality domestic films demonstrated further competitiveness with more films being screened. Diversification of film genre made breakthrough and set a healthy growth trend. During the year, Dadi Media (HK) Limited and its subsidiaries (collectively referred to as “Dadi Film”) under Dadi Media continued to develop its business in three aspects of film content, animation and distribution. In 2019, capitalizing on its own characteristics and enjoying the synergy with other segments of the Group, this business segment insisted upon its operating philosophy of striving for excellence while maintaining stability to further explore its own core competitiveness and produce film projects with market potential to meet the growing demand for quality contents by investing in development and cooperating with top players in the industry. As to the industry of animation contents, this business segment paid more attention to the layout of K12 industry in 2019, including the incubation and operation of children IP. Currently we have established cooperative relations with world-renowned animation companies like 9 Story Media Group Inc., Samg Animation Co., Ltd., etc.. Its “Mini Force” series, being a kids’ favourite, boasts a click-through rate of over 10 billion on the internet platform in the PRC. Its toy franchises ranked third on Taobao’s toy sales chart and sixth on search popularity chart. Other commercial cooperation partners include KFC, Baidu, Longemont, etc.. Oristar In 2019, Oristar Technology (HK) Limited and its subsidiaries (collectively referred to as “Oristar”) has successfully transformed itself from a traditional cinema software and equipment service provider into an internet company serving the cinema industry. A brand new revenue management SaaS (Software as a Service) service platform was launched for cinemas. More than 200 functions were developed on the brand new cloud structure and big data system to enable revenue increase and cost savings for cinema operation. As at 31 December 2019, Oristar provided services for approximately 1,804 cinemas, covering approximately 11,318 halls in 31 provinces (autonomous regions, municipalities) across China. During the year, Oristar focused on the advertisement business function of the brand new SaaS service platform. It took the initiative to introduce the “Oristar advertisement business platform” to the industry, fully realizing digitalization and commercialization in the management of advertising resources for cinemas in four dimensions, i.e. time, space, contents, and recipients. It provided cinemas with a comprehensive screening management system with fully automatic online-controlled functions in relation to management, categorization, dispatching and screening. It also provided advertisers with comprehensive data services covering quotation, broadcasting monitoring and user analysis. Prospects: 2020 looks set to be an unusual year for the cinema industry in the PRC. The novel coronavirus outbreak has imposed huge impact on the cinema operation and even the overall film market. There will be significant challenges lying ahead in the growth of the PRC film market. Seven films were withdrawn from the Spring Festival screening schedule. Other films on the subsequent schedule may also be affected, which will affect the operating results of the cinema operation in the short run. We expect the PRC film market will see a recovery in box office revenue during the summer holidays when the novel coronavirus outbreak dies down. All in all, we remain optimistic about the medium and long term development of the cinema industry in PRC. In 2020, we will adhere to our core values of “client-orientedness, integrity, proactiveness, entrepreneurship, learn-to-grow” to continue the establishment of a film-based platform of culture and entertainment. In future, besides optimizing the nationwide cinema layout and structure, we will strategically focus on the cinemas in those important regions, create a specific innovative cinema service model, and set a new benchmark for cinema service applicable to the entire nation. For the business of cinema operation, this business segment will continue to implement the OMO (Online — Merge — Offline) business model, gradually materialize the shift from scale expansion to delicate operation and from premises operation to membership operation, continue to introduce diversified consumption model and interests and actively promote, replicate and share such measure in nearly 500 cinemas across the nation. This business segment will further pursue its “Film +” strategy in terms of operation of the membership system. In the future, this business segment will continue to introduce more value-added services including children entertainment activities, live performance, other cultural activities and IP related products to further enrich members’ privilege and perfect the service ecosystem of cinemas. Relying on the diversified and unique member activities, the user consumption experience will be further enhanced and the Group’s big data resources will be increased, providing support for the further enhancement of members’ experience and precise marketing. For advertising business, in 2020, this business segment will continue to strengthen the integration of OMO resources, classify and match customer demand through digitalization of scenario and media buying, achieve accurate performance feedback through the establishment of a platform serving both the supply side and the demand side of cinemas, and enhance customer service capabilities and brand influence. As for contents, Dadi Film will steadily push forward the scheduling arrangement of films to be screened and actively identify revenue generating channels in 2020. Dadi Film will continue to develop and produce original creative projects based on a strictly-controlled budget and risk management. It will also continue to participate in more top-notch projects, create quality film contents and maintain its reputation in the industry by capitalizing on its advantages over resources and brand name. As for animation content industry, this business segment will continue to effect in-depth development of the children segment by promoting its own IPs and developing more quality IPs in collaboration with more world-renowned animation companies. As for the cinema revenue services, Oristar, being a service provider specialized in cinema digitalization, will continue to focus on cost reduction and revenue generation for cinemas, assisting cinemas to enhance their core competitiveness. As for products, Oristar will further perfect the functions of its cloud platform and integrate two separate platforms, namely the advertisement platform and collecting platform, providing cinemas with quality one-stop and internet-based products and services while saving cost expenditure of digitalization and informatization of cinemas as well as enhancing their operating efficiency and profitability.

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