Financial Performance - Operating revenue for the year-to-date was CNY 668,444,819.86, representing an increase of 11.61% year-on-year[8]. - Net profit attributable to shareholders was CNY 2,065,871.19, a decrease of 24.08% compared to the same period last year[8]. - Basic earnings per share were CNY 0.005, down 28.57% from CNY 0.007 in the previous year[8]. - The company reported a net profit of CNY -73,743.85 from non-recurring items for the year-to-date[12]. - The company anticipates a significant change in net profit compared to the previous year, but specific figures were not disclosed[21]. - Net profit for the first nine months of 2018 was ¥19,352,194.70, compared to ¥15,076,277.30 in the same period last year, reflecting a year-on-year increase of 28.5%[34]. - The company reported a net loss of CNY 7,177,521.83 for Q3 2018, compared to a profit of CNY 610,045.65 in the same period last year, indicating a significant decline in performance[39]. - Total operating revenue for the first nine months of 2018 was CNY 40,478,905.74, down 30.5% from CNY 58,697,774.09 in the previous year[39]. - The company's operating profit for Q3 2018 was CNY -7,179,058.47, a decrease from CNY 781,033.66 in Q3 2017[39]. - Basic and diluted earnings per share for Q3 2018 were both CNY -0.02, compared to CNY 0.002 in the same quarter last year[40]. - The total comprehensive income for Q3 2018 was CNY -7,177,521.83, reflecting the overall financial challenges faced by the company[39]. Cash Flow - Net cash flow from operating activities was CNY -430,322,769.61, compared to CNY -47,915,859.63 in the previous year, indicating a significant decline[8]. - Cash flow from operating activities showed a net outflow of CNY -430,322,769.61 for the first nine months of 2018, worsening from CNY -47,915,859.63 in the previous year[43]. - The company’s cash inflow from operating activities was CNY 508,210,549.24 for the first nine months of 2018, down from CNY 834,281,406.59 in the previous year[43]. - The net cash flow from operating activities for the first nine months of 2018 was -78,294,356.69 RMB, compared to -82,122,762.82 RMB in the same period last year, showing a slight improvement[46]. - Total cash inflow from operating activities was 80,328,025.22 RMB, down from 89,399,163.43 RMB year-on-year, indicating a decrease of approximately 10%[46]. - Cash outflow from operating activities totaled 158,622,381.91 RMB, compared to 171,521,926.25 RMB in the previous year, reflecting a reduction of about 7.5%[46]. - The net cash flow from investment activities was 4,103,862.29 RMB, a significant improvement from -5,039,535.96 RMB in the same period last year[46]. - Cash inflow from investment activities was 15,300,000.00 RMB, up from 8,160,000.00 RMB year-on-year, representing an increase of approximately 87%[46]. - Cash outflow from investment activities was 11,196,137.71 RMB, down from 13,199,535.96 RMB in the previous year, indicating a decrease of about 15%[46]. - The net cash flow from financing activities was 334,090,534.46 RMB, compared to -66,170,560.92 RMB in the same period last year, showing a substantial turnaround[44]. - The cash flow from financing activities included 678,061,017.99 RMB in cash received, significantly higher than 486,818,641.23 RMB in the previous year, marking an increase of about 39%[44]. - The net increase in cash and cash equivalents for the period was -74,190,494.40 RMB, compared to -87,162,298.78 RMB in the same period last year, indicating an improvement[47]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,082,193,373.68, a decrease of 3.10% compared to the end of the previous year[8]. - Non-current assets decreased by 1.52% to ¥310,015,342.45 from ¥315,962,160.49[26]. - The company's total assets as of September 30, 2018, amounted to ¥795,223,957.65, a slight increase from ¥787,863,319.12 at the beginning of the year[31]. - The total liabilities of the company were ¥316,022,066.59, down from ¥355,343,522.58 at the beginning of the year, indicating a reduction of approximately 11%[30]. - The company's equity attributable to shareholders increased to ¥691,230,630.31 from ¥689,164,759.12, showing a marginal growth[30]. - Inventory levels rose to ¥130,677,521.61, up from ¥118,694,986.02, representing a 10.3% increase[30]. - The company reported a significant increase in prepayments, which reached ¥92,980,436.48, compared to ¥33,902,762.30 at the beginning of the year, marking a growth of 174%[30]. Shareholder Information - The total number of shareholders at the end of the reporting period was 35,525[14]. - The largest shareholder, Jilin Province Jixiang Jiade Investment Co., Ltd., held 10.71% of the shares[14]. Research and Development - Research and development expenses for Q3 2018 were ¥170,539.61, slightly up from ¥165,375.62 in Q3 2017[34]. - Research and development expenses for the first nine months of 2018 were CNY 420,620.35, slightly up from CNY 397,753.32 in the previous year[39]. - The company has not disclosed any new product developments or market expansion strategies in this report[8]. Other Income and Expenses - Interest income decreased by 58.04% to ¥244,912.70 from ¥583,745.30 due to a reduction in bank deposits[16]. - The company reported an increase in other income by 65.80% to ¥56,123.75 compared to ¥33,850.08 in the previous year[17]. - The company incurred sales expenses of CNY 11,600,262.12 for the first nine months of 2018, a decrease of 11.9% compared to CNY 13,180,158.45 in the same period last year[39]. - The company reported investment income of CNY 15,300,000.00 for the first nine months of 2018, compared to CNY 8,160,000.00 in the same period last year[39]. Acquisition - The company is in the process of acquiring a 49% stake in Beijing Jiurun Source E-commerce Co., Ltd., with the transaction still pending as of October 29, 2018[19].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 507,934,280.71, representing a 7.40% increase compared to CNY 472,944,454.07 in the same period last year[18]. - Net profit attributable to shareholders for the first half of 2018 was CNY 6,074,486.92, a significant increase of 428.92% from CNY 1,148,464.60 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 6,133,542.66, up 265.14% from CNY 1,679,770.22 year-on-year[18]. - Basic earnings per share for the first half of 2018 was CNY 0.015, a 400.00% increase from CNY 0.003 in the same period last year[19]. - Operating profit increased to CNY 29.40 million, a significant rise of 47.12% compared to the previous year[31]. - Net profit attributable to the parent company reached CNY 6.07 million, up 428.92% year-on-year[31]. - The company achieved a revenue of CNY 507.93 million, representing a year-on-year growth of 7.40%[31]. - The company reported a profit margin of approximately 3.9% for the first half of 2018, up from 2.5% in the same period last year[81]. - The company reported a net loss of CNY 259,821,519.21, slightly improved from a loss of CNY 265,896,006.13 at the beginning of the period[75]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -233,385,299.71, compared to CNY -57,115,690.39 in the same period last year[18]. - The net cash flow from operating activities decreased by CNY 233.39 million compared to the previous year, primarily due to reduced cash receipts from sales[33]. - Operating cash inflow for the first half of 2018 was CNY 374,431,997.52, down 36% from CNY 584,902,601.34 in the same period last year[87]. - The ending cash and cash equivalents balance decreased to CNY 28,282,974.75 from CNY 109,025,632.21 year-over-year, reflecting liquidity challenges[88]. - Cash and cash equivalents decreased by 66.23% to CNY 58.78 million from CNY 174.06 million in the previous period[37]. - The company reported a total cash outflow of CNY 132,265,004.74 from operating activities, which is an increase from CNY 121,899,815.05 in the previous year[91]. Assets and Liabilities - Total assets decreased by 9.83% to CNY 1,007,084,499.40 from CNY 1,116,862,634.97 at the end of the previous year[18]. - Current assets decreased from CNY 800,900,474.48 to CNY 692,524,651.52, a reduction of about 13.5%[73]. - Total liabilities decreased from CNY 355,343,522.58 to CNY 240,515,374.21, a reduction of about 32.3%[74]. - The company's equity attributable to shareholders increased from CNY 689,164,759.12 to CNY 695,239,246.04, a growth of approximately 0.16%[75]. - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 2,000,000, which accounts for 2.88% of the company's net assets[54]. Shareholder Information - The company has a total of 29,622 common shareholders as of the end of the reporting period[63]. - The largest shareholder, Jilin Province Jixiang Jiade Investment Co., Ltd., holds 42,833,236 shares, accounting for 10.71% of total shares[65]. - The second-largest shareholder, Yin Bing, holds 22,689,972 shares, representing 5.67% of total shares[65]. - The number of shares held by the director Yin Bing increased from 6,163,150 to 22,689,972, an increase of 16,526,822 shares[68]. Operational Highlights - The company operates in the wine industry, with a focus on various wine types including dry, ice, and sweet wines[24]. - The subsidiary Beijing Jiuyuan's revenue contributed an increase of CNY 34.99 million to the overall revenue, accounting for the growth[33]. - The company plans to enhance market focus and refine marketing strategies to adapt to increasing competition in the wine industry[43]. - The company emphasizes food safety and quality assurance as a priority in response to rising consumer health awareness[43]. Environmental and Social Responsibility - The company has implemented an environmental management system to ensure compliance with pollution control regulations[59]. - The company has made significant investments in environmental protection and sustainable development initiatives[56]. - The company replaced its original coal-fired boilers with two energy-efficient gas boilers, ensuring emissions meet the GB13271-2014 standards[58]. - The company has two discharge outlets, with wastewater being treated to meet the GB8978-1996 Class III discharge standard[57]. Accounting and Financial Reporting - The company has not disclosed any major changes in accounting policies or estimates during the reporting period[60]. - The company's financial statements comply with the requirements of the enterprise accounting standards, reflecting the financial position, operating results, changes in shareholders' equity, and cash flows accurately[112]. - The accounting period for the company runs from January 1 to December 31 each year[113]. - The company applies the accounting treatment for business combinations under common control and non-common control, measuring assets and liabilities at book value or fair value as appropriate[116]. Inventory Management - The total inventory balance at the end of the period was ¥326,912,763.36, compared to ¥403,756,834.17 at the beginning, representing a decrease of 19.0%[199]. - The inventory of finished goods rose to ¥130,326,632.44, up from ¥101,676,420.73, indicating a 28.2% increase[199]. - The company has recognized inventory impairment provisions, applicable to the financial reporting[200].

Financial Performance - In 2017, the company achieved a net profit attributable to shareholders of CNY 6,063,674.01, representing a 192.83% increase compared to CNY 2,070,696.39 in 2016[5]. - The company's operating revenue for 2017 was CNY 919,551,948.33, a 54.80% increase from CNY 594,016,767.25 in 2016[20]. - The company reported a basic earnings per share of CNY 0.02 for 2017, doubling from CNY 0.01 in 2016[22]. - The weighted average return on equity increased to 0.88% in 2017, up from 0.30% in 2016, an increase of 0.58 percentage points[22]. - The net profit attributable to the parent company for 2017 was CNY -937,442.30, indicating a continued financial challenge[5]. - The company reported a net profit of CNY 4,095.58 million after deducting non-recurring gains and losses for 2017[95]. - The company’s net profit for 2017 was CNY 26,646,131.77, an increase of 33.4% compared to CNY 19,980,722.03 in the previous year[162]. Cash Flow and Liquidity - The cash flow from operating activities was negative at CNY -548,977,524.61, worsening from CNY -287,998,798.82 in 2016[20]. - The company experienced a significant negative cash flow from operating activities, totaling approximately -¥46.96 million in Q1 and -¥501.06 million in Q4, indicating cash flow challenges throughout the year[24]. - The cash flow from operating activities decreased by 26,097,780.00, mainly due to a reduction in cash received from sales and increased cash payments for goods and services[56]. - The company reported a total cash and cash equivalents balance of 132,711,973.12 RMB at year-end, down from 140,207,559.23 RMB at the beginning of the year[168]. - The net increase in cash and cash equivalents for the year was -7,495,586.11 RMB, compared to -36,274,385.71 RMB in the previous year, showing a reduced cash burn rate[168]. Assets and Liabilities - The total assets at the end of 2017 amounted to CNY 1,116,862,634.97, reflecting a 3.45% increase from CNY 1,079,581,710.77 in 2016[21]. - Total liabilities increased to ¥355,343,522.58 from ¥336,868,730.15, marking a rise of 5.0%[156]. - The company's equity attributable to shareholders rose to ¥689,164,759.12, compared to ¥683,101,085.11 in the previous year, a slight increase of 0.5%[156]. - The inventory balance as of December 31, 2017, was CNY 403,756,834.17, with a provision for inventory impairment of CNY 31,308,060.33, resulting in a net inventory value of CNY 372,448,773.84[144]. - The accounts receivable increased to CNY 72,119,624.14 from CNY 65,768,936.69, suggesting a growth in sales or credit terms[154]. Market and Industry Trends - The Chinese wine industry faced a decline in production, with a reported 5.3% decrease in wine output to 1,001,000 kiloliters in 2017, and a 9% drop in sales revenue to ¥42.137 billion[29]. - E-commerce sales in the liquor sector are projected to grow from 1.25% of total sales in 2014 to 4.16% in 2017, highlighting the increasing importance of online channels[32]. - The company aims to enhance its product structure and marketing network, focusing on becoming a leading wine production and cultural dissemination base in China[83]. Product Development and Marketing - The company launched several new products in 2017, including the "Love in Deep Autumn" series and the upgraded version of "Tonghua Ice Refreshing Wine," which received positive market feedback[40]. - The company has established a comprehensive e-commerce platform, enhancing its market presence and consumer engagement through internet-based sales strategies[35]. - The company reported a significant increase in promotional expenses by 56.15% year-on-year, totaling RMB 2.03 million[79]. Shareholder and Governance - The total number of common stock shareholders at the end of the reporting period is 28,298[108]. - The largest shareholder, Jilin Province Jixiang Jiade Investment Co., Ltd., holds 42,833,236 shares, accounting for 10.71% of total shares[110]. - The company has not encountered any issues regarding the use of funds during the reporting period[96]. - The company has maintained independence from its controlling shareholder in terms of operations, personnel, assets, and finance[137]. Employee and Management - The company employed a total of 599 staff, with 353 in the parent company and 246 in major subsidiaries[126]. - The remuneration policy is based on job position and contributions, aiming to link employee income with performance[127]. - The company has experienced a board and supervisory committee reshuffle, with several new appointments and departures[124]. Risk Management - The company will implement risk management strategies to address market, financial, and food safety risks in 2018[85]. - The company did not face any significant operational risks during the reporting period[7]. Audit and Compliance - The financial statements for the year ended December 31, 2017, were audited and found to fairly present the company's financial position and operating results[142]. - The company has conducted an internal control self-assessment and received a standard unqualified opinion from the auditing firm on its internal controls for the year 2017[138].

Financial Performance - Operating revenue increased by 9.42% to CNY 395,101,959.98 year-on-year[5] - Net profit attributable to shareholders rose by 22.51% to CNY 2,708,626.66 compared to the same period last year[5] - The net profit for the current period was ¥8,913,504.44, compared to ¥8,054,249.84 in the previous period, reflecting a growth of 10.7%[33] - Operating profit for the current period was ¥16,208,365.25, representing a 29.0% increase from ¥12,485,206.94 in the previous period[32] - Total operating revenue for the current period reached ¥395,101,959.98, an increase of 9.4% compared to ¥361,097,116.96 in the previous period[32] Cash Flow - Net cash flow from operating activities improved, with a reduction in outflow from CNY -46,959,987.79 to CNY -36,127,029.46[5] - Cash flow from operating activities showed a net outflow of ¥36,127,029.46, an improvement from the outflow of ¥46,959,987.79 in the previous period[38] - Total cash inflow from operating activities was 18,652,093.04 RMB, down 34.9% from 28,707,059.34 RMB year-over-year[41] - The company experienced a net decrease in cash and cash equivalents of -59,788,236.50 RMB for the quarter, compared to -51,978,340.08 RMB in the previous year[41] Assets and Liabilities - Total assets decreased by 14.44% to CNY 955,636,855.83 compared to the end of the previous year[5] - Total liabilities decreased from ¥355,343,522.58 to ¥185,204,239.00, a decline of approximately 47.8%[26] - Current liabilities increased from ¥349,912,488.02 to ¥180,219,635.47, a decrease of approximately 48.5%[25] - Non-current liabilities decreased from ¥5,431,034.56 to ¥4,984,603.53, a decline of approximately 8.2%[26] Shareholder Information - The number of shareholders reached 31,960 at the end of the reporting period[9] - The largest shareholder, Jilin Province Jixiang Jiade Investment Co., Ltd., holds 10.71% of the shares[9] Earnings Per Share - The company reported a basic earnings per share of CNY 0.01, unchanged from the previous year[5] - The basic and diluted earnings per share remained at ¥0.01 for both periods[33] Other Financial Metrics - The weighted average return on equity increased by 0.07 percentage points to 0.39%[5] - Financial expenses decreased by 77.43% to ¥619,722.44, resulting from reduced interest expenses[15] - Income tax expenses increased by 70.78% to ¥7,333,489.82 due to higher profits from subsidiaries[17] Operational Efficiency - Sales expenses increased to ¥21,355,655.55, up 8.3% from ¥19,722,095.43 in the previous period[32] - Management expenses decreased to ¥5,859,686.05, down 12.3% from ¥6,678,302.12 in the previous period[32] - Cash outflow for purchasing goods and services increased significantly to 38,031,100.71 RMB, compared to 9,114,643.68 RMB in the previous year, reflecting higher operational costs[41] Investment Activities - The company plans to acquire a 49% stake in Beijing Jiuyun Source E-commerce Co., Ltd., with the transaction details disclosed on February 24, 2018[20] Other Observations - The report indicates that the financial statements have not been audited[6] - The company has not disclosed any significant new product developments or market expansion strategies in this report[11]

Financial Performance - Operating revenue increased by 59.35% to CNY 598,894,295.10 for the first nine months compared to the same period last year[7]. - Net profit attributable to shareholders increased by 163.94% to CNY 2,720,963.74 for the first nine months compared to the same period last year[7]. - Basic earnings per share increased by 133.33% to CNY 0.007 per share[7]. - The net profit excluding non-recurring gains and losses increased by 77.14% to CNY 3,428,555.37 for the first nine months compared to the same period last year[7]. - Year-to-date operating revenue reached ¥598,894,295.10, significantly up from ¥375,848,515.66, marking a growth of 59.2%[30]. - Year-to-date net profit increased to ¥15,076,277.30 from ¥13,579,917.65, representing a growth of 11.0%[31]. - Net profit for the third quarter was ¥3,043,990.78, down 6.0% from ¥3,237,223.23 in the previous year[31]. - The total profit for the third quarter was ¥3,324,890.34, down 31.2% from ¥4,841,381.50 in the same period last year[30]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of CNY -47,915,859.63 for the first nine months[7]. - Cash and cash equivalents decreased by 69.11%, from ¥184,265,709.59 to ¥56,914,384.39, primarily due to the maturity of acceptance bills and increased customer transactions[15]. - The company reported a negative retained earnings of CNY -277,078,716.41, compared to CNY -271,959,680.14 at the beginning of the year[23]. - Cash inflow from sales of goods and services reached ¥694.33 million, up from ¥444.09 million in the same period last year, representing a 56.3% increase[39]. - Total cash inflow from operating activities amounted to ¥834.28 million, compared to ¥475.88 million in the previous year, marking a 75.4% increase[39]. - Cash outflow for purchasing goods and services was ¥531.27 million, an increase from ¥310.43 million, reflecting a 71.0% rise[39]. - The ending cash and cash equivalents balance was ¥56.91 million, down from ¥98.03 million at the end of the previous year[40]. - The company reported a net decrease in cash and cash equivalents of -¥127.35 million for the period[40]. Assets and Liabilities - Total assets decreased by 6.82% to CNY 1,005,915,646.34 compared to the end of the previous year[7]. - Current liabilities decreased from CNY 329,885,971.51 to CNY 250,147,422.85, a reduction of about 24.1%[22]. - Non-current liabilities decreased from CNY 6,982,758.64 to CNY 5,818,965.58, a decrease of approximately 16.7%[23]. - Total liabilities decreased from CNY 336,868,730.15 to CNY 255,966,388.43, a decline of around 24%[23]. - Owner's equity increased slightly from CNY 742,712,980.62 to CNY 749,949,257.91, an increase of about 1%[23]. - Total current assets decreased from ¥778,401,777.07 to ¥702,282,743.10, reflecting a decline in cash and other current assets[20]. Shareholder Information - The number of shareholders reached 29,883 by the end of the reporting period[12]. - The largest shareholder, Jilin Province Jixiang Jiade Investment Co., Ltd., holds 10.71% of the shares[13]. Operational Insights - Operating costs increased by 66.05%, from ¥299,741,530.04 to ¥497,729,790.13, due to rising sales and changes in product mix[17]. - The company has not disclosed any new product or technology developments in this report[5]. - The company plans to continue focusing on expanding its market presence and enhancing product offerings in the upcoming quarters[19].

Financial Performance - The company's operating revenue for the first half of 2017 was approximately ¥472.94 million, representing a 101.39% increase compared to ¥234.84 million in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2017 was approximately ¥1.15 million, a decrease of 50.60% from ¥2.33 million in the previous year[15]. - The basic earnings per share for the first half of 2017 was ¥0.003, down 50.00% from ¥0.006 in the same period last year[14]. - The total profit amounted to 19.45 million RMB, reflecting a year-on-year growth of 15.15%[25]. - The net profit attributable to the parent company was 1.15 million RMB, showing a decrease of 50.60% compared to the previous year[25]. - The company reported a net loss of CNY 278,651,215.54 for the period, compared to a loss of CNY 271,959,680.14 in the previous period[57]. - The total comprehensive income for the period was 12,032,286.52 RMB, which includes a net loss of -7,840,000.00 RMB from profit distribution[73]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥960.21 million, an increase of 5.68% from ¥908.62 million at the end of the previous year[15]. - The company's net assets attributable to shareholders at the end of the reporting period were approximately ¥676.41 million, a decrease of 1.58% from ¥687.28 million at the end of the previous year[15]. - Total liabilities decreased from CNY 336,868,730.15 to CNY 213,309,625.78, a reduction of approximately 37%[57]. - The total equity at the end of the current period is RMB 738,215,338.28, a decrease of RMB 1,014,367.94 compared to the previous period[80]. Cash Flow - The net cash flow from operating activities for the first half of 2017 was approximately -¥57.12 million, compared to -¥96.74 million in the same period last year[15]. - Cash and cash equivalents decreased by 40.83%, amounting to 109,025,632.21 CNY, compared to 184,265,709.59 CNY in the previous period[31]. - The cash flow from financing activities decreased by 815,200 CNY, primarily due to increased cash payments for dividends and interest[29]. - The company reported a cash inflow from operating activities totaling ¥584,902,601.34, compared to ¥326,004,455.21 in the previous period, marking an increase of approximately 79.2%[68]. - The company’s cash outflow from operating activities totaled 121,899,815.05 RMB, which is a decrease from 141,688,470.36 RMB in the previous year[71]. Operational Highlights - The company launched several new products in the first half of 2017, which received positive market feedback[23]. - The company is focusing on e-commerce and O2O channel development to enhance its market presence and consumer engagement[21]. - The company achieved a revenue of 472.94 million RMB, representing a year-on-year growth of 101.39%[25]. - The operating profit for the period was 19.98 million RMB, with a year-on-year increase of 12.08%[25]. Risks and Compliance - The company did not have any significant risks that could materially affect its operations during the reporting period[3]. - The company emphasizes food safety as a priority, establishing a comprehensive quality traceability system for its products[34]. - The company is facing market risks due to increasing competition in the wine industry and aims to improve risk analysis and prevention capabilities[33]. - The company has not engaged in any major litigation or arbitration during the reporting period[39]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 29,421[46]. - The company has not made any changes to its accounting policies or estimates compared to the previous accounting period[45]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[40]. - The company’s major shareholder, Xinhua Group, reduced its stake to 7.21% after a series of share transfers[87]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that its financial statements accurately reflect its financial position and operating results[95]. - The company includes all subsidiaries under its control in the consolidated financial statements, ensuring consistent accounting policies across the group[101]. - The company has not changed its scope of consolidated financial statements during the reporting period[90]. - The company recognizes the difference between the disposal price and the net asset share of the subsidiary as other comprehensive income before losing control, which is transferred to profit or loss upon losing control[105]. Inventory and Receivables - Inventory decreased by 33.43%, totaling 233,344,843.06 CNY, due to increased sales consuming a large amount of stock[32]. - The accounts receivable at the end of the period amounted to CNY 255,993,936.55, with a bad debt provision of CNY 191,287,299.65, indicating a provision coverage ratio of approximately 74.7%[169]. - The balance of inventory at the end of the period is CNY 275,473,352.63, with a total provision for inventory depreciation of CNY 42,128,509.57[186]. Construction and Development - The total budget for ongoing construction projects is CNY 64,921,341.40, with a remaining balance of CNY 47,985,387.04, indicating a utilization rate of approximately 73.94%[196]. - The new 10,000-ton ice wine equipment and filling equipment renovation project has a budget of CNY 24,000,000.00, with a current investment of CNY 20,689,273.30, representing 86.21% of the budget utilized[196]. - The company has not recognized any impairment provisions for construction in progress during the reporting period[197].

Financial Performance - Operating revenue increased by 106.82% to CNY 361,097,116.96 year-on-year[6] - Net profit attributable to shareholders increased by 13.12% to CNY 2,211,030.42 compared to the same period last year[6] - The company reported a basic earnings per share of CNY 0.01, unchanged from the previous year[6] - Operating profit for the current period was ¥12,485,206.94, representing a 50.5% increase from ¥8,294,020.19 in the previous period[33] - Net profit for the current period was ¥8,054,249.84, an increase of 55.5% compared to ¥5,160,124.55 in the prior period[34] - The net profit attributable to the parent company was ¥2,211,030.42, up 13.1% from ¥1,954,534.63 in the previous period[34] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 46,959,987.79, an improvement from a net outflow of CNY 60,039,081.79 in the previous year[6] - The net cash flow from operating activities improved by CNY 13,079,094.00, representing a 21.78% increase compared to the previous year[20] - Operating cash flow for Q1 2017 was negative at -50,654,567.84 RMB, compared to -60,605,325.76 RMB in the same period last year, showing an improvement of approximately 16.1%[41] - The company reported a net cash flow decrease of -51,978,340.08 RMB for the quarter, compared to -60,605,325.76 RMB in the previous year, indicating a 14.5% improvement[41] - Cash inflow from sales of goods and services was 23,239,141.96 RMB, an increase of 9.0% compared to 21,323,179.12 RMB in Q1 2016[41] Assets and Liabilities - Total assets decreased by 11.16% to CNY 959,057,457.82 compared to the end of the previous year[6] - Total liabilities decreased from 336,868,730.15 to 208,290,227.36, a decline of around 38.1%[27] - Current liabilities decreased from 329,885,971.51 to 201,695,399.74, a reduction of about 38.9%[26] - Non-current liabilities decreased from 6,982,758.64 to 6,594,827.62, a decrease of approximately 5.5%[27] - Owner's equity increased from 742,712,980.62 to 750,767,230.46, an increase of about 1.5%[27] Inventory and Receivables - Other receivables increased significantly by 444.13% to CNY 122,514,390.97 compared to the end of last year[12] - Inventory decreased by 35.37% to CNY 226,523,851.59 compared to the end of last year[12] - Accounts receivable increased slightly from 45,950,375.56 to 46,033,829.14, an increase of about 0.2%[30] - The company reported a decrease in prepayments by 38.39%, amounting to CNY 10,077,601.30, attributed to fewer customers making advance payments[14] Expenses - Operating costs increased to CNY 315,615,019.34, reflecting a 112.37% rise from CNY 148,616,986.39 in the same period last year[15] - Sales expenses increased by 130.14%, totaling CNY 19,722,095.43, due to expanded sales efforts[16] - Financial expenses rose by 136.51%, reaching CNY 2,745,691.35, primarily due to increased bank discounting by subsidiaries[16] - Management expenses rose to ¥6,678,302.12, an increase of 22.3% compared to ¥5,457,018.37 in the previous period[33] Shareholder Information - The number of shareholders reached 31,646 at the end of the reporting period[10] - The top shareholder, Jilin Province Jixiang Jiade Investment Co., Ltd., holds 10.71% of the shares[10] Investment Activities - The cash flow from investment activities saw a drastic decrease of 1,077.55%, resulting in a net outflow of CNY 1,676,407.71[20] - Investment activities resulted in a net cash outflow of -1,323,772.24 RMB, with no cash inflow recorded from investment activities[41] Other Financial Metrics - The weighted average return on equity increased by 0.04 percentage points to 0.32%[6] - Total current assets decreased from 455,830,596.01 to 452,500,800.53, a decline of about 0.7%[30] - Total cash and cash equivalents at the end of Q1 2017 were 55,783,027.85 RMB, down from 89,302,813.53 RMB year-over-year, representing a decrease of about 37.5%[42]

Financial Performance - In 2016, the company achieved a net profit attributable to shareholders of 2,070,696.39 CNY, a significant increase of 334.79% compared to the previous year[3]. - The company's total revenue for 2016 was 594,016,767.25 CNY, reflecting a year-on-year growth of 25.13%[18]. - The basic earnings per share for 2016 remained at 0.01 CNY, unchanged from 2015[19]. - The weighted average return on equity decreased to 0.30% in 2016, down from 0.37% in 2015[19]. - The company achieved a revenue of 594.02 million RMB in 2016, representing a year-on-year growth of 25.13%[36]. - Operating profit reached 32.89 million RMB, with a significant increase of 146.99% compared to the previous year[36]. - Net profit attributable to shareholders was 2.07 million RMB, marking a remarkable growth of 334.79% year-on-year[36]. - The company reported a net loss for the year of CNY -271,959,680.14, slightly worsening from CNY -270,110,376.53 in the previous year[142]. - The total profit for the year was CNY 32,575,392.06, an increase from CNY 24,112,657.74, reflecting overall business growth[147]. Cash Flow - The net cash flow from operating activities was -287,998,798.82 CNY, indicating a decline in cash flow compared to -115,992,392.29 CNY in 2015[18]. - The net cash flow from operating activities was negative in Q1 at ¥-60.04 million and further declined to ¥-236.81 million in Q4, indicating cash flow challenges throughout the year[21]. - Cash flow from financing activities saw a significant increase of 485.88%, amounting to 310.44 million RMB[38]. - The net cash flow from operating activities decreased by 172,006,406.53 yuan, reflecting increased cash outflows for purchases and labor[50]. - Cash flow from financing activities showed a net inflow of CNY 310,438,555.88, significantly higher than CNY 52,986,744.89 from the previous year[153]. - The total cash and cash equivalents at the end of the period decreased to CNY 140,207,559.23 from CNY 176,481,944.94[153]. Operational Challenges - The net cash flow from operating activities was negative at CNY -287,998,798.82, worsening from CNY -115,992,392.29 year-over-year[153]. - The company experienced a significant decline in net profit attributable to shareholders in Q3, reporting a loss of ¥1.29 million, highlighting operational difficulties during that period[21]. - The domestic wine production in China saw a decline of 1% in 2016, marking the fourth consecutive year of decrease, while imports increased by 15%, indicating a challenging market environment[27]. - The company has faced challenges due to economic slowdowns and increased competition from imported wines, but it remains optimistic about future growth driven by health-conscious consumption trends[26]. Market Position and Strategy - The company operates in the wine industry, focusing on the production and sales of various types of wines, including dry, ice, and sweet wines[26]. - The company holds a strong brand presence in the market, with its products recognized as representatives of the Tonghua region's wine industry, enhancing its competitive advantage[30]. - The company plans to achieve a revenue target of 700 million RMB for the year 2017[77]. - The company aims to control operating expenses at 80 million RMB during 2017[77]. - The company has a strategic focus on product structure adjustment and marketing network development to enhance its market position[76]. Subsidiaries and E-commerce - The company’s subsidiary, Jiuyun Source, is engaged in e-commerce, selling alcoholic beverages through major online platforms, which is expected to grow as consumer preferences shift towards online shopping[28]. - The subsidiary Beijing Jiurun Source E-commerce Co., Ltd. reported revenue of 51.55 million RMB and a net profit of 3.66 million RMB[74]. Inventory and Production - The production volume of wine was 2,842 tons, with a year-over-year increase of 0.74%, while sales volume reached 2,865 tons, marking a 13.42% increase[42]. - The inventory level decreased by 1.12% to 2,024 tons, indicating effective inventory management[42]. - The production of low-end wine reached 2,359,000 liters, a year-on-year increase of 1.89%, while sales were 2,375,000 liters, up 10.62% year-on-year[61]. Financial Management - The company implemented cost control measures, resulting in a 27.61% increase in operating costs, which was lower than the revenue growth rate[38]. - Sales expenses decreased by 5.56% to 47,558,128.16 yuan, while management expenses fell by 7.72% to 24,700,986.45 yuan[47]. - The company has reported non-recurring gains from government subsidies amounting to ¥759,956.24 in 2016, which may provide some financial relief amidst operational losses[23]. Governance and Compliance - The company has maintained compliance with all commitments made to minority shareholders regarding stock holdings[84]. - The company has not faced any penalties from securities regulatory agencies in the past three years[119]. - The company has not reported any instances of funds being occupied or overdue receivables during the reporting period[89]. - The company has not received any non-standard audit opinions from its accounting firm during the reporting period[89]. Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 37,295, an increase from 31,646 at the end of the previous month[103]. - The largest shareholder, Jilin Province Jixiang Jiade Investment Co., Ltd., held 42,833,236 shares, representing 10.71% of the total shares[105]. - The company has not reported any changes in the controlling shareholder during the reporting period[107]. Employee Management - The number of employees in the parent company is 383, while the total number of employees in the parent company and major subsidiaries is 537[120]. - The company emphasizes training programs to enhance employee skills and overall quality, including pre-job training and on-the-job training[122]. - The company has established a performance evaluation and incentive mechanism for directors, supervisors, and managers to ensure transparency and fairness[126].

Financial Performance - Operating revenue increased by 32.55% to CNY 375,848,515.66 for the first nine months of the year[7] - Net profit attributable to shareholders decreased by 44.71% to CNY 1,030,885.73 compared to the same period last year[7] - Operating profit increased by CNY 9.14 million, a growth of 67.76% driven by reduced financial expenses and increased revenue[14] - Net profit attributable to the parent company decreased by CNY 0.83 million, a decline of 44.71% due to reduced non-operating income and increased non-operating expenses[15] - Net profit for the quarter was CNY 3,237,223.23, recovering from a net loss of CNY 2,038,973.57 in the previous year[29] - The net profit for Q3 2023 was a loss of ¥5,329,098.80, compared to a profit of ¥2,332,189.67 in Q3 2022[32] Cash Flow - Net cash flow from operating activities turned negative at CNY -51,191,265.56, a decrease of 165.55% year-on-year[7] - Net cash flow from operating activities decreased by CNY 129.29 million, a decline of 165.55% compared to the previous year[16] - Cash flow from operating activities showed a net outflow of ¥51,191,265.56 for the first nine months of 2023, compared to a net inflow of ¥78,097,314.04 in the same period last year[34] - Net cash flow from operating activities was negative at CNY -7,850,441.47, a decline from CNY 20,089,679.65 in the previous year[38] - The net cash flow from investment activities was CNY -68,429,283.00, showing an improvement compared to CNY -171,989,223.08 in the previous year[38] Assets and Liabilities - Total assets decreased by 8.04% to CNY 904,461,147.51 compared to the end of the previous year[7] - Total assets decreased from CNY 983.58 million at the beginning of the year to CNY 904.46 million[20] - Current liabilities decreased from CNY 256.93 million to CNY 168.15 million, indicating improved liquidity[21] - The company reported a total asset balance of CNY 795,122,392.92 at the end of the period, down from CNY 805,917,185.42 at the beginning of the year[25] - The total liabilities decreased to CNY 52,984,148.70 from CNY 58,798,588.28, indicating a reduction in financial obligations[25] Shareholder Information - The total number of shareholders reached 34,615, with the largest shareholder holding 10.71% of the shares[11] Revenue and Costs - Operating costs rose by CNY 89.10 million, an increase of 42.30% due to changes in sales structure[14] - Total operating costs for the quarter were CNY 136,200,773.10, up from CNY 99,962,757.81, reflecting a year-over-year increase of 36.2%[28] - The total operating expenses increased significantly, with sales expenses rising to ¥5,194,890.72 from ¥610,545.01 in the previous year, marking an increase of 748.67%[32] - The total operating costs for the first nine months of 2023 were ¥29,183,134.45, down from ¥34,237,545.04 in the previous year, a decrease of 14.77%[32] Earnings Per Share - Basic and diluted earnings per share both decreased by 40% to CNY 0.003[7] - Basic earnings per share for the quarter were CNY -0.003, compared to CNY -0.006 in the same period last year[29] - The basic and diluted earnings per share for Q3 2023 were both -¥0.013, compared to ¥0.006 in Q3 2022[32] Receivables and Prepayments - Accounts receivable increased by 37.36% to CNY 84,076,079.29 due to increased sales activities[12] - Other receivables surged by 279.66% to CNY 103,458,812.25, reflecting increased business with clients[12] - Prepayments increased by 203.59% to CNY 40,826,332.07, indicating higher advance payments received[13] - Accounts receivable increased from CNY 61.21 million to CNY 84.08 million, indicating potential collection issues[19] Cash and Cash Equivalents - Cash and cash equivalents decreased from CNY 234.35 million to CNY 98.03 million, reflecting cash flow challenges[19] - The company’s cash and cash equivalents decreased to CNY 73,628,414.82 from CNY 149,908,139.29 at the beginning of the year[25] - The ending balance of cash and cash equivalents was CNY 73,628,414.82, down from CNY 113,462,544.50 in the previous year[39]

Financial Performance - The company's operating revenue for the first half of 2016 was approximately ¥234.84 million, representing a 26.69% increase compared to ¥185.37 million in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2016 was approximately ¥2.33 million, a decrease of 47.61% from ¥4.44 million in the previous year[18]. - The basic earnings per share for the first half of 2016 was ¥0.006, down 70% from ¥0.02 in the same period last year[18]. - The weighted average return on net assets decreased by 0.24 percentage points to 0.34% compared to the previous year[18]. - The net cash flow from operating activities was negative at approximately -¥28.31 million, a decline of 168.67% from ¥41.23 million in the previous year[18]. - The total assets at the end of the reporting period were approximately ¥908.62 million, a decrease of 7.62% from ¥983.58 million at the end of the previous year[18]. - The net assets attributable to shareholders at the end of the reporting period were approximately ¥687.28 million, a slight increase of 0.34% from ¥684.95 million at the end of the previous year[18]. - The company reported a significant increase of 552.18% in net profit attributable to shareholders after deducting non-recurring gains and losses, reaching approximately ¥3.26 million compared to a loss of ¥0.72 million in the previous year[18]. - The diluted earnings per share for the first half of 2016 was also ¥0.006, reflecting the same 70% decrease as the basic earnings per share[18]. Revenue and Costs - Operating costs increased by 45.29% to CNY 184.65 million, primarily due to revenue growth and changes in product mix[24][25]. - Sales expenses decreased by 34.80% to CNY 16.68 million, attributed to changes in product structure[24][25]. - The company achieved operating revenue of CNY 234.84 million, a year-on-year increase of 26.69%[24]. - E-commerce revenue was ¥199,326,719, reflecting a 69.22% increase year-over-year, although the gross margin decreased by 50.14 percentage points[35]. - Revenue from North China decreased by 45.32%, while South China saw a decline of 49.50%[36]. Cash Flow and Liquidity - Cash and cash equivalents decreased by 48.41% to CNY 120.91 million, mainly due to the maturity of acceptance bills[29][30]. - The company's cash and cash equivalents at the end of the period amounted to ¥120,909,894.60, a decrease of ¥113.44 million compared to the previous period's balance of ¥234,354,228.94[167]. - The increase in prepaid accounts led to a reduction in cash funds during the current period[167]. - Cash flow from operating activities generated a net outflow of ¥28,313,043.35, compared to a net inflow of ¥41,231,514.45 in the prior period[83]. Investments and Acquisitions - The total amount of raised funds was ¥52,235.00 million, with ¥41,642.92 million already utilized by June 30, 2016[43]. - The company invested ¥3,031,155.00 in high-quality sweet wine technology transformation projects during the reporting period[43]. - The company has completed the acquisition of Beijing Jiurun Source E-commerce Co., Ltd. and Jilin Province Xinzicheng Trading Co., Ltd., with the funds allocated for these acquisitions reaching their intended purposes[45]. Shareholder and Equity Information - The total number of shareholders as of the end of the reporting period is 34,322[61]. - There were no changes in the total number of shares and share capital structure during the reporting period[59]. - The company has not made any changes to its equity investments compared to the previous year[39]. - The company has no plans for profit distribution or capital reserve transfer for the reporting period[48]. Governance and Compliance - The company has established a governance structure that complies with the requirements of the Company Law and relevant regulations[57]. - There were no significant errors or changes in accounting policies during the reporting period[58]. - The company has not experienced any penalties or corrective actions from regulatory bodies during the reporting period[56]. Assets and Liabilities - Total liabilities amounted to CNY 175,543,556.10, a decrease of 31.7% compared to CNY 256,928,238.37 in the previous period[72]. - The company's current assets decreased to RMB 619,425,116.32 from RMB 708,961,976.03, reflecting a decline of approximately 12.6%[70]. - The total assets of the company stood at CNY 809,854,060.34, a marginal increase from CNY 805,917,185.42[74]. Inventory and Receivables - The total inventory at the end of the period is valued at 235,888,433.65 RMB, with a provision for inventory depreciation of 42,128,509.57 RMB[187]. - The total balance of accounts receivable at the end of the period is CNY 258,211,261.84, with a bad debt provision of CNY 193,269,331.06, representing a provision ratio of 74.85%[175]. - The accounts receivable aged over three years amount to CNY 191,786,325.07, with a bad debt provision of CNY 188,852,169.06, indicating a high risk[175]. Financial Policies and Accounting - The company adheres to the accounting policies and estimates in accordance with the relevant accounting standards[102]. - The company recognizes financial assets transfer based on the transfer of almost all risks and rewards of ownership, terminating recognition if conditions are met[121]. - The company assesses impairment for long-term assets, including fixed assets and intangible assets, if there are indications of impairment, comparing recoverable amounts to carrying values[150].