芒果超媒:2024年年度报告(英文版)

Mango Excellent Media Co., Ltd.
Annual Report 2024
April 2025

Annual Report 2024
Section I Important Note, Table of Contents and Definitions
The Board of Directors, the Board of Supervisors, directors, supervisors and executives of
the Company hereby warrant that the information contained in this Annual Report is true, accurate
and complete and this Annual Report is free from any misrepresentation, misleading statement or
material omission, and agree to assume joint and several liability for this Annual Report.
CAI Huaijun, Principal of the Company, ZHANG Zhihong, CFO and TAO Jinyu, Chief
Accountant, hereby represent that the financial statements contained in this Annual Report are true,
accurate and complete.
All directors of the Company attended the meeting of the Board of Directors reviewing this
Report.
Alert of risks related to a sharp decline in operating results: During the reporting period, due
to the changes in the preferential enterprise income tax policy applicable to the Company, in
accordance with the relevant provisions of the Accounting Standards for Business Enterprises, the
Company reversed certain deferred tax assets, resulting in a net decrease in the net profit
attributable to the shareholders of the Listed Company by RMB420 million in the 2024 financial
statements (in comparison to a net increase in the net profit attributable to the shareholders of the
Listed Company by RMB1.63 billion in 2023 due to an increase in the amount of deferred tax
assets recognized), which led to a significant decrease in the net profit attributable to the
shareholders of the Listed Company in 2024 as compared to the previous year. There has been no
material adverse change in the primary business and core competencies of the Company, or material
risk that might impair the Company’s ability to continue as a going concern. Refer to Section II
“Company Profile and Key Financial Indicators - Key accounting data and financial indicators” for
details.
This Report contains certain forward-looking statements regarding future plans, development
strategies and other projected matters, which do not constitute any substantial covenant made by the
Company to the investors and related persons. The investors and related persons shall be fully
aware of the relevant risks, and understand the differences among such plans, forecasts and
covenants.
The Company describes in details the possible risks in its operation and countermeasures in
this Report. Please see Section III “Management’s Discussion and Analysis – Prospects for future
development of the Company”.
According to the profit distribution proposal approved by the Board of Directors, the
Company will distribute a cash dividend of RMB2.2 (tax inclusive) per 10 shares to all shareholders
on the basis of 1,870,720,815 shares, without distributing any bonus shares or transferring any
capital reserve to the share capital.

Table of Contents

Section I Important Note, Table of Contents and Definitions......1
Section II Company Profile and Key Financial Indicators......5
Section III Management’s Discussion andAnalysis......9
Section IV Corporate Governance...... 34
Section V Environmental and Social Responsibility...... 53
Section VI Important Events...... 54
Section VII Share Changes and Information of Shareholders...... 66
Section VIII Preference Shares......72
Section IX Bonds......73
Section X Financial Report......74
List of References
1. Financial statements signed and sealed by the Principal, CFO and Chief Accountant of the Company;
2. Original of the auditor’s report stamped with the seal of the accounting firm and signed and sealed by the certified public
accountants;
3. Originals of all documents of the Company publicly disclosed on the website for information disclosure designated by the
China Securities Regulatory Commission during the reporting period and related announcements; and
4. Other references.

Definitions
Terms means Definition
Mango Excellent Media, Company, we means Mango Excellent Media Co., Ltd.
or the Listed Company
Mango Excellent Media Co., Ltd. means the full name of the Company in English.
MANGO means the short name of the Company in English.
Happy Sunshine means Hunan Happy Sunshine Interactive Entertainment Media Co., Ltd., a
wholly-owned subsidiary of the Listed Company.
Mango TV means the online video platform affiliated to the Listed Company and operated by
Happy Sunshine.
Golden Eagle Cartoon means Hunan Golden Eagle Cartoon Media Co., Ltd., a wholly-owned subsidiary
of the Listed