福建省燕京惠泉啤酒股份有限公司 2016 年年度报告 公司代码：600573 公司简称：惠泉啤酒 福建省燕京惠泉啤酒股份有限公司 2016 年年度报告 重要提示 四、 公司负责人高振安、主管会计工作负责人王岳及会计机构负责人（会计主管人员） 王碧辉声明：保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 根据•公司章程‣规定，结合公司生产经营情况，2016年度拟作如下分配：以2016 年末总股本25,000万股为基数，每10股派发现金股利0.085元（含税），共计向全体股东 派发股利2,125,000.00元；剩余未分配利润结转下一年度。 本预案尚需提交2016年度股东大会审议。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质 承诺，敬请投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 √适用 □不适用 公司已在本报告中详细描述存在的风险因素，敬请查阅第四节董事会报告中关于 公司未来发展 ...

| 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 福建省燕京惠泉啤酒股份有限公司 2016 年第三季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 福建省燕京惠泉啤酒股份有限公司 2016 年第三季度报告 1 / 19 福建省燕京惠泉啤酒股份有限公司 2016 年第三季度报告 公司代码：600573 公司简称：惠泉啤酒 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 3 / 19 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 1,200,593,552.35 1,179,594,194.14 1.78 归属于上市公司股东的净资产 1,091,534,344.78 1,098,377,505.05 -0.62 年初至报告期末 （1-9 月） 上年初至上年报告 期末（1-9 月） 比上年同期增减 (%) 经营活动产生的现金流量净额 63,609,943.28 105,737,056.38 -39.84 ...

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 308,617,751.58, a decrease of 23.86% compared to the same period last year[16]. - The net profit attributable to shareholders was a loss of CNY 16,355,505.82, representing a decline of 254.00% year-on-year[16]. - The net cash flow from operating activities was CNY 56,365,105.61, down 33.91% from the previous year[16]. - The company's beer sales revenue was CNY 306,067,717.99, a decrease of 23.36% compared to the previous year, with a gross margin of 29.72%, down by 5 percentage points[37]. - The company reported a net loss of CNY 15,348,951.52 for the first half of 2016, compared to a net profit of CNY 6,870,000.00 in the same period last year[73]. - The total comprehensive income for the first half of 2016 was -¥16,168,457.42, compared to ¥9,834,330.01 in the previous year[74]. - The company reported an operating profit loss of ¥5,521,183.06 for the first half of 2016, compared to a profit of ¥21,095,502.26 in the same period last year[76]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,207,960,334.13, an increase of 2.40% compared to the end of the previous year[16]. - The company's net assets attributable to shareholders decreased by 2.17% to CNY 1,074,521,999.23[16]. - The company's total assets as of June 30, 2016, amounted to CNY 1,195,660,465.27, an increase from CNY 1,175,908,282.62 at the beginning of the year[71]. - Total liabilities increased to CNY 82,098,085.55 from CNY 49,511,086.82, indicating a rise of 65.5%[71]. - The company's accounts payable increased by 110.57% to CNY 67,920,093.54, indicating a rise in unpaid goods[32]. - The company's tax payable increased by 287.74% to CNY 16,437,113.53, reflecting an increase in unpaid taxes[32]. Cash Flow and Investments - The company's cash and cash equivalents decreased by 60.64% to CNY 156,749,692.70, mainly due to investments in bank wealth management products[32]. - The company reported a total investment of RMB 604 million in financial products, with a return of RMB 3.65 million during the reporting period[41]. - The company plans to utilize up to RMB 400 million of its idle funds to invest in low-risk short-term financial products, authorized until April 30, 2017[41]. - The company engaged in a 30 million CNY financial management product, generating a return of 37,808.22 CNY, reflecting a return rate of approximately 0.13%[39]. - The investment income decreased by 30.48% to CNY 2,795,536.41, primarily due to reduced bank wealth management returns[26]. Research and Development - The company reported a significant increase in research and development expenses, totaling CNY 3,108,248.00, up 15.56% year-on-year[23]. - The company completed 359 innovation projects and implemented 920 rationalization suggestions during the reporting period[30]. Marketing and Sales Strategies - The company launched a new canned pure water product, which has begun mass production and distribution, targeting hotels and tourist spots[28]. - The company established a marketing information platform to enhance product quality and market responsiveness, aiming to improve sales of canned products[27]. - The company faced challenges in meeting consumer demand, leading to a decline in beer sales and revenue[21]. - The company implemented strategies to optimize performance and control costs, but the results did not meet expectations[21]. Shareholder Information - The company distributed a cash dividend of RMB 0.30 per share, totaling RMB 7.5 million, based on a total share capital of 25 million shares[45]. - The total number of shareholders as of the end of the reporting period is 15,366[57]. - The company plans to distribute dividends in cash, stock, or a combination of both, with a minimum annual cash distribution of 10% of the distributable profit[52]. Financial Management and Governance - The company has diversified its financial management strategy with multiple products, including a 10 million CNY investment that returned 19,458.21 CNY[40]. - The company’s financial performance reflects a focus on optimizing asset management and exploring new investment opportunities[41]. - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board[96]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance[98]. Accounting Policies and Estimates - The company has not made any changes to significant accounting policies or estimates during the reporting period[180]. - The company applies an aging analysis method for bad debt provision, with percentages ranging from 5% for receivables within one year to 50% for those over three years[130]. - The company recognizes revenue from beer sales when the main risks and rewards of ownership have transferred to the buyer, and the revenue amount can be reliably measured[166].

福建省燕京惠泉啤酒股份有限公司 2016 年第一季度报告 公司代码：600573 公司简称：惠泉啤酒 福建省燕京惠泉啤酒股份有限公司 2016 年第一季度报告 1 / 19 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 福建省燕京惠泉啤酒股份有限公司 2016 年第一季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 3 / 19 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 1,191,739,296.17 1,179,594,194.14 1.03 归属于上市公司股东的净资产 1,080,295,408.99 1,098,377,505.05 -1.65 年初至报告期末 上年初至上年报告 期末 比上年同期增减 (%) 经营活动产生的现金流量净额 4,133,189.12 3,733,258.05 10.71 年初至报告期末 上年初至上年报告 期末 比上年同期增减 （% ...

福建省燕京惠泉啤酒股份有限公司 2015 年第三季度报告 公司代码：600573 公司简称：惠泉啤酒 福建省燕京惠泉啤酒股份有限公司 2015 年第三季度报告 1 / 21 | 一、重要提示 | 3 | | --- | --- | | 二、公司主要财务数据和股东变化 | 3 | | 三、重要事项 | 5 | | 四、附录 | 9 | 福建省燕京惠泉啤酒股份有限公司 2015 年第三季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 3 / 21 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上 年度末增减(%) 总资产 1,224,613,272.80 1,181,245,693.20 3.67 归属于上市公司股东的净资产 1,113,129,226.20 1,085,361,974.00 2.56 年初至报告期末 （1-9 月） 上年初至上年报 告期末（1-9 月） 比上年同期增减 (%) 经营活动产生的现金流量净额 105,737,056.38 165,123,440.73 -35.96 年初至报告期末 （1-9 月） 上 ...

Financial Performance - The company achieved operating revenue of CNY 405,350,989.81 for the first half of 2015, a decrease of 0.99% compared to the same period last year[21]. - Net profit attributable to shareholders reached CNY 10,620,456.77, representing a significant increase of 69.38% year-on-year[19]. - Basic earnings per share increased to CNY 0.04, up 33.33% from CNY 0.03 in the previous year[17]. - The weighted average return on net assets rose to 0.97%, an increase of 0.38 percentage points compared to the previous year[17]. - The company reported a net cash flow from operating activities of CNY 85,285,380.27, down 6.01% from CNY 90,734,279.07 in the same period last year[19]. - Total assets increased by 3.54% to CNY 1,223,054,122.19 compared to the end of the previous year[19]. - The company experienced a 3.80% decrease in operating costs, totaling CNY 265,255,642.84[25]. - The company reported a 5.55% increase in revenue from operations within Fujian Province, totaling ¥315,537,389.07, while revenue from outside Fujian decreased by 18.41%[37]. Investment Activities - Investment income rose by 71.37% to CNY 4,020,931.50, primarily due to increased bank wealth management returns[25]. - The company invested a total of RMB 1,330,000,000 in financial products, achieving actual returns of RMB 4,020,931.50[43]. - The company engaged in multiple financial products with China Industrial and Commercial Bank, with individual investments ranging from RMB 20,000,000 to RMB 80,000,000, yielding fixed income returns[41]. - The highest return from a single investment was RMB 1,754,778.08 from a RMB 60,000,000 investment with Beijing Bank[43]. - The company has a strategy to utilize up to RMB 400 million of idle funds for low-risk short-term financial products to enhance capital efficiency[43]. - The actual recovery of principal across various investments consistently matched the initial investment amounts, indicating effective risk management[41]. - The investment returns were primarily fixed income, with no involvement in high-risk financial instruments[44]. Cash Flow and Liquidity - The company reported a significant increase in investment activities, with cash outflow of CNY 321,182,197.40 compared to CNY 104,132,082.89 in the previous year[85]. - The net cash and cash equivalents at the end of the period decreased to CNY 119,491,517.51 from CNY 283,963,541.06, a decline of 57.9%[85]. - The company reported a cash and cash equivalents balance of CNY 90,743,911.01 at the end of June 2015, down from CNY 249,271,311.66 at the end of the previous year[86]. - The company’s cash flow from financing activities was negative CNY 10,000,000.00, which is an increase in outflow compared to negative CNY 6,250,000.00 in the same period last year[86]. Shareholder Returns - The company implemented a profit distribution plan for the 2014 fiscal year, distributing a total of RMB 10 million in cash dividends, which amounts to RMB 0.40 per 10 shares based on a total share capital of 25 million shares[47]. - The company distributed dividends amounting to CNY 10,000,000.00 during the first half of 2015, compared to CNY 6,250,000.00 in the same period last year[86]. - The company has committed to a cash dividend distribution of no less than 10% of the distributable profit each year, with a cumulative distribution of at least 30% over three years[59]. Corporate Governance and Management - The company has established a corporate governance structure including a board of directors and various departments such as finance, marketing, and technology development[100]. - The company has seen changes in its board members, with several independent directors appointed and some resignations noted, which may impact governance and strategic direction[68]. - The controlling shareholder, Beijing Yanjing Beer Co., Ltd., has made commitments to avoid competition with Huichuan Beer and ensure its independent operation[58]. Operational Efficiency - The company has implemented a comprehensive quality management system, enhancing product quality and increasing R&D efforts[38]. - The company has established a talent management and promotion channel, focusing on employee development and training programs[31]. - The company has strengthened its marketing strategies, increasing brand awareness through community engagement and promotional activities[27]. - The company has enhanced its internal control management processes, ensuring effective execution of operational standards and procedures[30]. Financial Reporting and Compliance - The financial statements are prepared based on the going concern principle and comply with the accounting standards set by the Ministry of Finance[102]. - The company’s financial reporting adheres to the accrual basis of accounting, ensuring accurate reflection of its financial position and performance[103]. - The company recognizes minority interests in subsidiaries separately in the consolidated balance sheet, with losses exceeding the minority interest's share reducing their equity[114]. Inventory and Asset Management - The group classifies inventory into raw materials, work in progress, finished goods, and consumables[146]. - Inventory is valued at actual cost upon acquisition, with a weighted average method used for cost calculation upon issuance[146]. - Fixed assets are recognized at actual cost and depreciated using the straight-line method over their useful lives[155]. Employee Compensation and Benefits - Employee compensation includes various forms of remuneration and is classified into current and long-term liabilities on the balance sheet[168]. - The company recognizes short-term employee benefits as liabilities during the accounting period when services are provided, including wages, bonuses, and social insurance contributions[169]. - The company has established a pension plan under the national enterprise annuity system, allowing employees to voluntarily participate, with no other significant employee social security commitments[170].

| 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 福建省燕京惠泉啤酒股份有限公司 2015 年第一季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 福建省燕京惠泉啤酒股份有限公司 2015 年第一季度报告 公司代码：600573 公司简称：惠泉啤酒 福建省燕京惠泉啤酒股份有限公司 2015 年第一季度报告 1 / 18 单位：元 币种：人民币 3 / 18 本报告期末 上年度末 本报告期末比上 年度末增减(%) 总资产 1,169,557,172.79 1,181,245,693.20 -0.99 归属于上市公司股东的净资产 1,071,225,907.89 1,085,361,974.00 -1.30 年初至报告期末 上年初至上年报告 期末 比上年同期增减 (%) 经营活动产生的现金流量净额 3,733,258.05 21,759,015.25 -82.84 年初至报告期末 上年初至上年报 ...

Financial Performance - The company achieved a net profit attributable to shareholders of 32,451,534.29 CNY in 2014, representing a 70.12% increase compared to 19,075,469.87 CNY in 2013[22]. - Operating revenue for 2014 was 829,008,363.38 CNY, an increase of 4.11% from 796,306,504.88 CNY in 2013[23]. - The basic earnings per share rose to 0.13 CNY, a 62.50% increase from 0.08 CNY in 2013[22]. - The total profit reached CNY 32.84 million, reflecting a significant growth of 43.23% compared to the previous year[26]. - Net profit attributable to the parent company was CNY 32.45 million, marking a substantial increase of 70.12% year-on-year[26]. - The company reported a total revenue of RMB 1,026 million for the year 2014, with a net profit of RMB 6.3 million[60]. - The company reported a net profit for 2014 of RMB 31,159,102.80, compared to RMB 18,451,125.74 in the previous year, representing a growth of 68.6%[172]. - The net profit attributable to shareholders of the parent company was RMB 32,451,534.29, an increase from RMB 19,075,469.87, marking a rise of 70.0%[172]. Cash Flow and Investments - The net cash flow from operating activities was 83,274,396.83 CNY, reflecting a 5.70% increase compared to 78,785,408.09 CNY in 2013[23]. - The net cash flow from investment activities was -¥16,922,009.79, an increase of 54.85% compared to the previous period, mainly due to reduced investment project expenditures[45]. - The company reported cash inflows from investment activities totaling ¥1,032,459,278.98, compared to ¥851,422,890.62 in the previous period, marking a growth of 21.3%[177]. - The total cash and cash equivalents at the end of the period amounted to ¥361,367,403.14, up from ¥301,265,016.10 at the beginning of the period, reflecting a net increase of 19.9%[177]. - The company incurred sales expenses of ¥85,379,023.74, which is an increase of 16.0% from ¥73,583,313.81 in the previous period[174]. Assets and Liabilities - The total assets at the end of 2014 were 1,181,245,693.20 CNY, a 2.60% increase from 1,151,281,402.41 CNY at the end of 2013[23]. - The company's total equity reached RMB 1,094,497,454.28, up from RMB 1,069,588,351.48, showing a growth of approximately 2.32%[165]. - Total current liabilities rose to RMB 83,614,975.85 from RMB 78,838,574.85, indicating an increase of about 4.93%[165]. - The company's long-term equity investments and fixed assets were reported at RMB 539,917,086.71 and RMB 630,538,776.30 respectively, reflecting ongoing investment in infrastructure[164]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of 0.40 CNY per 10 shares, totaling 10,000,000.00 CNY to shareholders[2]. - In 2014, the company distributed a cash dividend of 0.25 RMB per 10 shares, totaling 6.25 million RMB based on 25 million shares[74]. - The company aims for a cash dividend ratio of at least 80% during profit distribution if in a mature phase without major capital expenditures[72]. - The company has implemented a cash dividend policy requiring at least 10% of the distributable profits to be distributed in cash annually, with a cumulative distribution of at least 30% over three years[72]. Research and Development - Research and development expenditure rose to CNY 5.15 million, a 66.92% increase from the previous year[35]. - R&D expenses amounted to ¥5,151,400, representing 0.47% of net assets and 0.62% of total revenue, focusing on new product development and quality improvement[47]. - The company is exploring potential mergers and acquisitions to enhance market share, targeting a 10% increase in market penetration by 2016[118]. - Research and development efforts are being intensified, with a budget increase of 25% allocated for innovative brewing technologies[118]. Market Strategy and Product Development - The company implemented a direct supply vehicle sales model, enhancing marketing efficiency and control[26]. - The company launched personalized new products, including the "Ouqishi Red Beer" and "Raw Beer" in easy-open cans, to optimize product structure[28]. - The company aims to enhance management efficiency through standardized and refined management practices, focusing on product and brand upgrades[49]. - The company focuses on optimizing product structure and developing personalized products to meet the evolving consumer preferences, particularly targeting the post-90s demographic[69]. Corporate Governance and Management - The company has established a supplier assessment system to improve material quality and reduce procurement costs[72]. - The company emphasizes employee development through training programs and performance evaluations to enhance overall management efficiency[72]. - The company has a diverse board with members serving in various capacities across different subsidiaries, enhancing governance and strategic oversight[125]. - The leadership structure indicates a strong presence in the beer industry with multiple directors overseeing operations in different regions[124]. Social Responsibility and Compliance - The company is committed to fulfilling its social responsibilities, as detailed in its annual social responsibility report[77]. - The company actively participates in public welfare and environmental protection initiatives, increasing investments in environmental governance[143]. - The company has not faced any administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[95]. - The company has improved its internal control system, enhancing the efficiency and effectiveness of its operations[156].

福建省燕京惠泉啤酒股份有限公司 600573 | 一、 | 重要提示 2 | | --- | --- | | 二、 | 公司主要财务数据和股东变化 2 | | 三、 | 重要事项 4 | | 四、 | 附录 9 | 福建省燕京惠泉啤酒股份有限公司 2014 年第三季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | | 本报告期末比上 | | --- | --- | --- | --- | --- | | | | 调整后 | 调整前 | 年度末增减(%) | | 总资产 | 1,243,733,664.46 | 1,151,281,402.41 | 1,151,281,402.41 | 8.03 | | 归属于上市公司股东的净资产 | 1,094,060,509.98 | 1,059,160,439.71 | 1,064,439,384.49 | 3.30 | | | 年初至报告期末 | 上年初至上年报告期末 | | 比上年同期增减 | | | （1-9 月） | （1-9 | 月） | (%) | | | | 调整后 ...

Financial Performance - The company achieved operating revenue of CNY 409,388,347.97 in the first half of 2014, representing a 7.79% increase compared to the same period last year[21]. - The net profit attributable to shareholders was CNY 6,935,892.09, a significant turnaround from a net loss of CNY 5,501,245.30 in the previous year[21]. - The total assets of the company increased by 4.73% to CNY 1,205,777,268.74 compared to the end of the previous year[21]. - The weighted average return on net assets was 0.65%, improving from -0.53% in the same period last year[19]. - The company reported a net cash flow from operating activities of CNY 90,734,279.07, a decrease of 5.21% from the previous year[21]. - The company reported a total revenue exceeding 1 billion CNY in the first half of 2014, indicating a strong performance in the beer market[65]. - The company reported a net profit of 1.6 billion, a significant increase compared to the previous period[101]. - The company reported a net profit of -6.25 million, indicating a loss for the period[102]. - The company reported a total of CNY 72,479,682.12 in unrecognized deferred tax assets due to deductible losses, with the largest portion expiring in 2016[184]. Revenue and Sales - The company's revenue from the Fujian province reached ¥298,937,299.01, representing a year-on-year increase of 10.33%[37]. - Beer segment revenue amounted to ¥401,869,437.57, with a year-on-year growth of 7.98% and a gross margin of 33.28%, which increased by 3.47 percentage points[37]. - The revenue from beer sales was CNY 401,869,437.57, which is a 8.02% increase from CNY 372,179,063.36 in the previous period[193]. - The company reported a total of CNY 51,407,610.06 in revenue from its top five customers, accounting for 12.56% of total revenue[194]. Expenses and Costs - Sales expenses increased by 25.84% to CNY 61,300,994.91, indicating a focus on marketing efforts[24]. - The cost of goods sold for the beer segment was ¥268,133,851.99, reflecting a year-on-year increase of 2.64%[37]. - The total operating cost was CNY 269,296,656.10, resulting in a gross profit margin of approximately 33.2%[193]. - The total sales expenses increased to CNY 61,300,994.91 from CNY 48,713,506.58, reflecting a rise of 25.8%[195]. Investments and Assets - The company reported an investment income of CNY 2,346,328.78, an increase of 60.70% compared to the previous year, attributed to increased product revenue[25]. - The company’s other current assets surged to CNY 90,000,000.00, a 563.62% increase, primarily due to investments in bank wealth management products[35]. - The company has increased accounts receivable to CNY 462,345.91, reflecting a 100% increase due to higher credit sales[34]. - The company has initiated 435 various improvement projects during the reporting period, achieving a record reduction in consumption indicators, including water usage and packaging losses[30]. Strategic Initiatives - The company plans to enhance brand influence and improve operational efficiency through innovation and marketing strategies[23]. - The company is developing a new differentiated product, "Red Beer," which features a rich color and unique aroma, set to launch soon[29]. - The company is focusing on improving product quality and standardizing production processes to meet and exceed consumer demands[29]. - The company plans to invest up to RMB 300 million in low-risk short-term financial products to improve the efficiency of idle funds[42]. Governance and Compliance - The company has strengthened internal control management to enhance governance and mitigate decision-making risks[32]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[5]. - The company has no significant litigation or bankruptcy restructuring matters during the reporting period, indicating stable operations[51][52]. - The company did not receive any penalties or administrative sanctions from the China Securities Regulatory Commission during the reporting period[66]. Future Outlook - The company's future outlook remains cautious, with ongoing investments in technology upgrades and market expansion strategies[50]. - Future guidance suggests a revenue target of 2.5 billion RMB for the full year 2014, reflecting a growth rate of 12% compared to the previous year[64]. - The company plans to enhance its market expansion strategies in the upcoming quarters[102]. - The company is exploring potential mergers and acquisitions to strengthen its market position[102]. Shareholder Information - The total number of shareholders at the end of the reporting period is 24,696[71]. - The largest shareholder, Beijing Yanjing Beer Co., Ltd., holds 50.03% of the shares, totaling 125,067,778 shares[71]. - The company implemented a cash dividend distribution of RMB 0.25 per share, totaling RMB 6.25 million based on 25 million shares[48]. Research and Development - The company is investing in new product development, with a budget allocation of 20 million RMB for R&D in 2014[98]. - There is an ongoing focus on research and development for new products and technologies to drive growth[94]. Financial Health - The company’s total current assets as of June 30, 2014, amount to ¥563,126,205.23, an increase from ¥494,840,561.02 at the beginning of the year[79]. - The company’s cash and cash equivalents at the end of the reporting period are ¥283,963,541.06, down from ¥301,265,016.10 at the beginning of the year[79]. - The total liabilities rose to CNY 131,049,289.96 from CNY 76,414,106.15, marking an increase of about 71.7%[80].