Special Explanation on No Profit Distribution
The board of directors of Great Wall Movie and Television Co., Ltd. has confirmed through ZTE Hua Accounting Firm (Special General Partnership) that the net profit attributable to the shareholders of the parent company for the year 2020 was -250,216,028.23 yuan, and the net profit of the parent company was -73,628,969.71 yuan. As of December 31, 2020, the cumulative undistributed profits in the consolidated financial statements were -1,061,127,388.52 yuan, and the cumulative undistributed profits in the parent company’s financial statements were -366,777,484.02 yuan.