证券代码：600616 证券简称：金枫酒业 公告编号：2023-023 上海金枫酒业股份有限公司 关于召开 2023 年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2023 年 09 月 13 日(星期三) 下午 13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 09 月 06 日(星期三) 至 9 月 12 日（星期二）16:00 前登录上 证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （lily@jinfengwine.com 或 lqc@jinfengwine.com）进行提问。公司将在说明会上 对投资者普遍关注的问题进行回答。 上海金枫酒业股份有限公司（以下简称"公司"）已于 2023 年 8 月 31 日发布公 司 2023 年半年度报告，为便于广大投资者 ...

Financial Performance - The company's operating revenue for 2022 was RMB 661,605,732.82, representing a year-on-year increase of 1.88% compared to RMB 649,379,399.00 in 2021[20]. - The net profit attributable to shareholders for 2022 was RMB 5,171,873.92, a significant recovery from a loss of RMB 12,845,796.03 in 2021[20]. - The net cash flow from operating activities increased by 49.80% to RMB 102,045,744.29 from RMB 68,121,447.67 in the previous year[20]. - The company's total assets as of the end of 2022 were RMB 2,260,193,684.14, a slight decrease of 0.47% from RMB 2,270,956,082.44 in 2021[20]. - The weighted average return on net assets for 2022 was 0.27%, an increase of 0.93 percentage points from -0.66% in 2021[21]. - The gross profit margin for the main business decreased by 0.47 percentage points to 42.57%[43]. - The company achieved a total revenue of 661.61 million RMB in 2022, representing a year-on-year increase of 1.88%[38]. - The net profit attributable to shareholders was 5.17 million RMB, an increase of 3.59% compared to the previous year[38]. Cost Management and Efficiency - The company reduced management and sales expenses, resulting in a decrease in office and travel costs compared to the previous year[22]. - The company is focusing on cost control and efficiency improvements, aiming to reduce expense ratios and enhance profitability[32]. - The company reported a decrease in sales expenses by 6.34% to 135.85 million RMB, indicating better cost efficiency[39]. - The production centers have been unified to standardize procurement and production processes, improving cost control[35]. - The cost of raw materials accounted for 79.99% of total costs, amounting to 29,590.94 million RMB, reflecting a year-on-year increase of 5.94%[84]. Product Development and Innovation - The company launched five new products across three major categories in 2022, with the "Hong Bubu" series winning the Qingzhao Award for new products[31]. - The company has applied for three invention patents and two utility model patents during the year, indicating a focus on innovation and R&D capabilities[31]. - Research and development expenses increased by 31.81% to 3.97 million RMB, reflecting the company's commitment to innovation[39]. - The company is actively developing low-sugar and sugar-free yellow wine products to meet the increasing health-conscious consumer preferences[95]. - The company aims to innovate product offerings to cater to younger consumers, addressing the shift in consumption demographics from older to younger generations[98]. Market and Sales Performance - In Q1 2022, the company reported revenue of ¥163.44 million, while Q2 revenue dropped to ¥68.32 million, before increasing to ¥184.67 million in Q3 and reaching ¥245.17 million in Q4[9]. - The net profit attributable to shareholders was ¥3.46 million in Q1, but turned negative in Q2 with a loss of ¥23.36 million, before recovering to ¥2.89 million in Q3 and rising to ¥22.19 million in Q4[9]. - The company achieved a total sales revenue of 10.163 billion CNY from 90 major yellow wine producers, indicating a slow growth in the yellow wine market due to competition from white wine[97]. - The total sales volume for mid-to-high-end products was 35,301 thousand liters, a slight decrease of 1.21% year-on-year, while the sales revenue increased by 4.25% to 485.59 million RMB[65]. - The company plans to enhance its online sales strategy by optimizing e-commerce resources and developing exclusive online products[80]. Governance and Compliance - The company has conducted six board meetings and five supervisory meetings during the reporting period, ensuring compliance with governance standards[101][102]. - The company is committed to maintaining transparent communication with stakeholders and investors, facilitating various forms of interaction to promote healthy development[103]. - The company has implemented measures to ensure the independence of its operations from its controlling shareholders[105]. - The company has established a structured governance framework in place to manage its board and executive compensation effectively[110]. - The company has established a comprehensive internal control system to ensure compliance and protect the interests of all shareholders[138]. Environmental Management - The company has established a comprehensive environmental protection management system to ensure compliance with national and industry environmental regulations[165]. - The total emissions for COD are 262.04 tons/year, ammonia nitrogen 24.94 tons/year, total phosphorus 8.80 tons/year, and total nitrogen 77 tons/year[145]. - The company has implemented a low-nitrogen burner transformation project for two gas boilers, completed in July 2019, and a new 3000 tons/day wastewater treatment facility in 2022[147]. - The company has established an emergency response plan for sudden environmental pollution incidents, which was filed on June 10, 2021[151]. - The company has committed to maintaining its independence and has ensured that its operations, assets, and decision-making processes remain autonomous, with strict adherence to relevant laws and regulations[169].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 109,710,253.48, representing a decrease of 32.88% compared to the same period last year[4]. - The net profit attributable to shareholders was CNY 133,000,356.62, showing a significant increase of 3,748.20% year-on-year[4]. - The company's basic earnings per share were CNY 0.20, reflecting a substantial increase of 3,748.20%[4]. - In Q1 2023, the company's total sales revenue was CNY 106.51 million, a decrease of 33.49% compared to CNY 160.14 million in Q1 2022[17]. - The net profit attributable to shareholders for Q1 2023 was CNY 109.71 million, down from CNY 163.44 million in Q1 2022[23]. - Net profit for Q1 2023 reached CNY 131,857,125.09, significantly higher than CNY 2,929,336.27 in Q1 2022, marking an increase of approximately 4,392.5%[25]. - The company reported a total comprehensive income of CNY 131,857,125.09 for Q1 2023, compared to CNY 2,929,355.68 in Q1 2022, indicating a significant improvement[26]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -48,127,332.66, indicating a challenging cash flow situation[4]. - Cash flow from operating activities showed a net outflow of CNY 48,127,332.66 in Q1 2023, compared to a smaller outflow of CNY 4,505,736.20 in Q1 2022[29]. - Cash and cash equivalents at the end of Q1 2023 totaled CNY 246,672,269.93, down from CNY 262,233,416.04 at the end of Q1 2022, a decrease of about 5.9%[31]. - The company's cash and cash equivalents increased to CNY 523.54 million from CNY 370.91 million at the end of 2022, reflecting a growth of 41.0%[19]. - Accounts receivable decreased to CNY 63.08 million from CNY 98.55 million, a decline of 36.0%[19]. - The total assets at the end of the reporting period were CNY 2,334,368,587.10, an increase of 3.28% from the previous year[4]. - The total assets of the company as of March 31, 2023, were CNY 2.33 billion, an increase from CNY 2.26 billion at the end of 2022[20]. - The company's total liabilities decreased to CNY 308.19 million from CNY 365.87 million, a reduction of 15.8%[21]. Market and Sales Performance - The company reported a decrease in sales due to slow market recovery and lower consumer spending, particularly in the yellow wine segment[15]. - The mid-to-high-end product sales dropped by 40.28% to CNY 81.24 million, while low-end product sales increased by 4.87% to CNY 25.26 million[17]. - The company reported a decrease in sales revenue across all regions, with Shanghai experiencing a 43.11% decline[17]. - The company added 33 new distributors and had 79 distributors exit, resulting in a total of 786 distributors by the end of the reporting period, a decrease of 46 from the end of 2022[18]. - The company plans to focus on expanding its product lines and enhancing its market presence in the coming quarters[18]. Expenses and Investments - Research and development expenses increased by 37.59%, indicating a focus on innovation and product development[8]. - The company’s long-term borrowings increased by 244.44%, with an addition of CNY 22 million in new loans[8]. - Total operating costs amounted to CNY 129,501,328.15, down from CNY 163,122,969.78 in the previous year, indicating a reduction of about 20.6%[25]. - Investment activities resulted in a net cash outflow of CNY 17,498,027.01 in Q1 2023, slightly better than the outflow of CNY 17,523,231.07 in Q1 2022[29]. - Financing activities led to a net cash outflow of CNY 2,216,125.41 in Q1 2023, compared to an outflow of CNY 1,947,082.92 in Q1 2022[31].

Financial Performance - In 2022, the company's operating revenue reached RMB 661,605,732.82, representing a year-on-year increase of 1.88% compared to RMB 649,379,399.00 in 2021[20] - The net profit attributable to shareholders was RMB 5,171,873.92, a significant recovery from a loss of RMB 12,845,796.03 in 2021[20] - The net cash flow from operating activities increased by 49.80% to RMB 102,045,744.29, up from RMB 68,121,447.67 in the previous year[20] - The weighted average return on net assets improved to 0.27% in 2022, up from -0.66% in 2021, marking an increase of 0.93 percentage points[21] - The total profit amounted to 4.61 million RMB, reflecting a significant increase of 5,347.73% year-on-year[38] - The net profit attributable to shareholders reached 5.17 million RMB, up by 348.36% from the previous year[38] - The company's operating costs increased by 2.45% to 381.78 million RMB, influenced by the overall revenue growth[39] Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.30 per share, totaling RMB 20,070,148.50 based on the total share capital of 669,004,950 shares as of December 31, 2022[5] - The proposed cash dividend for 2022 is CNY 20,070,148.50 (including tax), with the remaining undistributed profits carried forward to the next year[132] - The cash dividend amount represents 388.06% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is CNY 5,171,873.92[136] - The profit distribution plan was approved by 99.50% of the voting rights at the annual general meeting[133] Operational Efficiency - The company focused on core products and market management, leading to a slight increase in product distribution rates and overall revenue[22] - The company reduced management and sales expenses, resulting in a decrease in office and travel costs compared to the previous year[22] - The company has established a "one headquarters, two centers" operational management structure to enhance efficiency[35] - The company is committed to cost control and efficiency improvements, aiming to reduce expense ratios and enhance profitability[32] Research and Development - The company aims to enhance its research and development capabilities, having applied for three invention patents and two utility model patents in 2022[31] - Research and development expenses rose by 31.81% to 3.97 million RMB, indicating a commitment to innovation[39] - The company is advancing the innovation and research of large container storage and low-sugar/no-sugar yellow wine products to enhance product quality and meet market demands[95] Market Expansion - The company launched five new products across three major categories in 2022, with the "Hong Bu Bu" series winning the Qingzhao Award for new products[31] - The company expanded its distribution network by adding over 1,000 new terminals during the year, focusing on community group buying and new retail platforms[30] - The company plans to enhance its online sales strategy, focusing on e-commerce team development and brand promotion[80] - The company aims to expand its market presence in Jiangsu and explore new retail channels, including Douyin and Xiaohongshu, to promote new products[93] Environmental Responsibility - Environmental protection investments during the reporting period amounted to CNY 1,543,800[142] - The company has established a comprehensive environmental protection management system, ensuring compliance with national and industry environmental regulations[164] - The company has not faced any administrative penalties related to environmental issues during the reporting period[164] - The total emissions for COD are 262.04 tons/year, ammonia nitrogen 24.94 tons/year, total phosphorus 8.80 tons/year, and total nitrogen 77 tons/year[145] Governance and Compliance - The company has established a comprehensive internal control system to ensure compliance and protect shareholder interests[138] - The company has not reported any significant differences in governance compared to regulations set by the China Securities Regulatory Commission[105] - The company has engaged in multiple related party transactions, including leasing office space and providing entrusted loans to its subsidiaries[119] - The company has made significant changes in its board composition, reflecting a strategic shift in governance and oversight[116] Risks and Challenges - The overall liquor industry faced challenges due to macroeconomic factors, with a trend towards brand consolidation and premiumization among consumers[33] - The company is facing risks from a complex international environment and slow domestic economic recovery, which may limit performance growth[97] Employee Management - The total number of employees in the parent company is 208, while the main subsidiaries employ 642, resulting in a total of 850 employees[127] - The company has established a training system aimed at improving professional skills, technical abilities, and leadership, with annual evaluations of training effectiveness[129] - The employee composition includes 275 production staff, 207 sales personnel, 142 technical staff, 36 financial staff, and 160 administrative staff, totaling 820[128] Financial Transactions - The company reported a total deposit balance of RMB 1,366,060,753.70 at the end of the period, with a withdrawal amount of RMB 1,358,492,076.18 and a deposit amount of RMB 216,497,600.53[191] - The company has engaged in wealth management with a total investment of RMB 128 million in bank financial products, with an outstanding balance of RMB 40 million[194] - The company has significant related party transactions, with procurement of goods and services amounting to RMB 36.20 million, including RMB 29.20 million for glutinous rice and other products from related companies[189]

证券代码：600616 证券简称：金枫酒业 公告编号：2023-011 上海金枫酒业股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： （一） 会议召开时间：2023 年 4 月 7 日下午 13:00-14:00 （二） 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） （三） 会议召开方式：上证路演中心网络互动 会议召开时间：2023 年 4 月 7 日（星期五）下午 13:00-14:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 3 月 30 日至 4 月 6 日(星期四)16:00 前登录上证路演中心网站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 （ lily@jinfeng ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥184,671,739.56, representing a year-on-year increase of 14.31%[3] - The net profit attributable to shareholders for Q3 2022 was ¥2,889,030.96, while the net profit for the year-to-date period was a loss of ¥17,014,530.98[3] - The basic and diluted earnings per share for Q3 2022 were both ¥0.0043, compared to a loss of ¥0.03 in the same period last year[3] - The net profit for Q3 2022 was -19,952,164.78 RMB, a decrease from -26,053,860.59 RMB in Q3 2021, representing an improvement of approximately 23.5% year-over-year[23] - The total comprehensive income for Q3 2022 was -19,952,278.52 RMB, compared to -26,167,892.16 RMB in Q3 2021, showing a year-over-year improvement of approximately 23.5%[24] Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 227.99% to ¥35,075,926.53[3] - The net cash flow from operating activities for Q3 2022 was 35,075,926.53 RMB, significantly higher than 10,694,048.54 RMB in Q3 2021, indicating a positive trend in cash generation[27] - The net cash flow from investing activities for Q3 2022 was -26,435,147.94 RMB, an improvement from -73,152,698.70 RMB in Q3 2021, indicating a reduction in cash outflow[27] - The company experienced a net cash outflow from financing activities of -21,984,001.47 RMB in Q3 2022, compared to -27,821,696.66 RMB in Q3 2021, showing a decrease in cash used for financing[27] Revenue and Sales - The sales revenue from direct sales (including group purchases) for the first nine months of 2022 was ¥9,115.68 million, a decrease of 12.70% year-on-year[11] - The wholesale agency sales revenue for the same period was ¥31,405.27 million, an increase of 6.14% year-on-year[11] - The total sales revenue for the first nine months of 2022 was ¥40,520.95 million, a slight increase of 1.22% compared to the same period last year[11] - The total revenue for the first three quarters of 2022 was CNY 416,434,693.69, a slight increase of 1.36% compared to CNY 413,867,184.10 in the same period of 2021[22] Assets and Liabilities - Total assets at the end of Q3 2022 were ¥2,217,936,344.37, a decrease of 2.33% from the end of the previous year[3] - The equity attributable to shareholders decreased by 1.93% to ¥1,886,372,410.18 compared to the end of the previous year[3] - The cash and cash equivalents as of September 30, 2022, were CNY 308,073,551.70, down from CNY 323,103,422.15 at the end of 2021[16] - The inventory as of September 30, 2022, was CNY 705,217,788.03, a decrease from CNY 734,481,959.70 at the end of 2021[18] - The total liabilities as of September 30, 2022, were CNY 345,752,530.31, a decrease from CNY 358,749,841.36 at the end of 2021[19] Operating Costs and Expenses - The total operating costs for the first three quarters of 2022 were CNY 452,502,013.52, down from CNY 456,299,151.86 in 2021, indicating a decrease of 0.62%[22] - The total operating expenses for the first three quarters of 2022 were 513,049,600.57 RMB, compared to 546,068,615.41 RMB in the same period of 2021, reflecting a decrease of about 6.0%[26] Product Sales Performance - The sales revenue for mid-to-high-end products in the first nine months of 2022 was CNY 29,659.70 million, a decrease of 1.28% from CNY 30,044.24 million in 2021[16] - The sales revenue for low-end products increased by 8.76% to CNY 10,861.25 million in the first nine months of 2022, compared to CNY 9,986.38 million in 2021[16] Distribution and Market Presence - The total number of distributors increased by 23 to 893 by the end of the third quarter of 2022, compared to the end of the second quarter[14]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥231,762,954.13, a decrease of 8.14% compared to ¥252,312,213.32 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was -¥19,903,561.94, compared to -¥22,809,369.04 in the previous year, indicating an improvement[16]. - The net cash flow from operating activities was -¥22,151,392.89, which is an increase of ¥22,273,660 compared to -¥44,888,008.09 in the previous year[16][18]. - The total profit for the period was CNY -27.88 million, an improvement of CNY 4.15 million compared to CNY -32.03 million in the previous year[32]. - The company reported a total of ¥1,626,036.02 in non-recurring gains and losses during the reporting period[21]. - The basic earnings per share for the first half of 2022 was -¥0.03, consistent with -¥0.03 in the same period last year[17]. - The weighted average return on net assets was -1.04%, an improvement from -1.17% in the previous year[17]. - The gross profit margin decreased by 10.6% year-on-year, reflecting the impact of reduced sales due to the pandemic[32]. - The total operating revenue for the first half of 2022 was RMB 231,762,954.13, a decrease of 8.14% compared to RMB 252,312,213.32 in the first half of 2021[120]. - The company reported a comprehensive income of CNY 1,215,281.62 for the first half of 2022[137]. Market Conditions - The decline in revenue was attributed to a significant reduction in market demand due to the resurgence of COVID-19, which affected core consumption scenarios for yellow wine[18]. - In the Shanghai region, sales revenue decreased by 10.15% to 152.02 million yuan, while Zhejiang saw a significant decline of 39.93% due to pandemic-related restrictions[35]. - The company faced challenges from rising raw material costs and increased competition in the market, impacting performance growth[46]. Operational Changes - The company launched 4 new functional yellow wine products during the reporting period to meet market demand[27]. - Operating expenses decreased by 12.4% year-on-year, amounting to CNY 108.33 million[32]. - The company implemented a refined budget management system, with annual targets broken down by channel and personnel, enhancing performance tracking[26]. - The marketing center was restructured to optimize sales across three regions, ensuring precise execution of strategies[26]. - The company focused on enhancing safety production measures and cost reduction strategies during the pandemic[28]. - The company plans to enhance brand promotion and management of distribution channels to expand market reach beyond traditional consumption areas[46]. - The company aims to innovate product types and flavors to cater to the younger consumer demographic, addressing the shift in consumption trends[47]. Environmental Responsibility - The company reported a total pollutant discharge of 379.38 tons/year for COD, 35.50 tons/year for ammonia nitrogen, and 93.43 tons/year for total nitrogen[57]. - The company has completed the renovation of seven gas boilers with low nitrogen burners in September 2019, and the operation is normal[61]. - The company is committed to environmental responsibility and has established pollution prevention facilities that are functioning properly[59]. - The company has implemented a wastewater treatment facility with a capacity of 3,000 tons/day at the Shikumen plant, which is operating normally[61]. - The company has established an online monitoring system for wastewater discharge, measuring COD, pH, ammonia nitrogen, total nitrogen, and total phosphorus[64]. - The company has initiated a 1000KW distributed photovoltaic power generation project, which is expected to generate 5000 to 6000 kWh per day upon full grid connection[74]. - The company is focused on energy conservation and emission reduction, actively pursuing a resource-saving and environmentally friendly operational model[73]. Corporate Governance - The company has appointed new senior management, including a new chairman and general manager, during the recent board elections[51]. - The company is committed to maintaining its independence and has ensured that its operations and decision-making processes remain autonomous from its controlling shareholders[76]. - The company has successfully addressed historical property rights issues by transferring certain properties to its controlling shareholder at assessed value, resolving discrepancies in property ownership[84]. - The company has implemented measures to avoid and reduce related party transactions, ensuring fairness and transparency in any unavoidable transactions[79]. - The company has pledged to resolve any land and property ownership issues related to its operations as part of its commitment to improving corporate governance[84]. Financial Position - The total assets at the end of the reporting period were ¥2,227,081,988.58, a decrease of 1.93% from ¥2,270,956,082.44 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company were ¥1,883,483,379.22, down 2.08% from ¥1,923,457,203.40 at the end of the previous year[16]. - Total current assets as of June 30, 2022, amount to 1,529,912,937.10 RMB, a decrease from 1,550,267,657.20 RMB at the beginning of the period[113]. - Total liabilities increased slightly from CNY 358,749,841.36 to CNY 356,857,789.60, a decrease of about 0.2%[114]. - The total equity attributable to the parent company at the end of the reporting period was CNY 1,870,224,198.98, a decrease of CNY 41,982,042.10 compared to the previous period[132]. - The company reported a decrease in retained earnings by CNY 20,070,148.50 due to profit distribution to shareholders[133]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status as of December 31, 2021, and the operating results for the first half of 2022[146]. - The company uses RMB as its functional currency for accounting purposes[149]. - The consolidation scope includes the company and all subsidiaries, reflecting the overall financial status and results of the group[152]. - The company recognizes financial liabilities at fair value or amortized cost, depending on the nature of the liability[168]. - The company applies the effective interest method for calculating interest on financial assets measured at amortized cost[163].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 163,442,648.42, representing a year-on-year increase of 2.98%[3] - The net profit attributable to shareholders for the same period was CNY 3,456,166.41, reflecting a significant increase of 25.93% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,768,339.48, which is a 35.11% increase year-on-year[3] - The weighted average return on equity increased by 0.07 percentage points to 0.21%[3] - Operating revenue for Q1 2022 was RMB 163.44 million, compared to RMB 158.71 million in Q1 2021, reflecting a growth in business activity[25] - The net profit for Q1 2022 was CNY 2,929,336.27, an increase of 21.6% compared to CNY 2,409,010.25 in Q1 2021[26] - Total revenue for Q1 2022 was CNY 4,189,364.35, up from CNY 3,767,708.69 in the same period last year, reflecting a growth of 11.2%[26] - Operating profit for Q1 2022 reached CNY 4,260,509.92, compared to CNY 4,017,170.12 in Q1 2021, marking an increase of 6.1%[26] - The total comprehensive income for Q1 2022 was CNY 2,929,355.68, an increase from CNY 2,409,000.14 in Q1 2021[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,237,231,628.77, a decrease of 1.49% from the end of the previous year[3] - The equity attributable to shareholders at the end of the reporting period was CNY 1,926,913,389.22, showing a slight increase of 0.18%[3] - Total assets as of March 31, 2022, were RMB 2.24 billion, down from RMB 2.27 billion at the end of 2021[22] - The total liabilities decreased to RMB 322.10 million from RMB 358.75 million, indicating a reduction in financial obligations[21] Cash Flow - The company reported a net cash flow from operating activities of -CNY 4,505,736.20, which is not applicable for year-on-year comparison[3] - Cash flow from operating activities showed a net outflow of CNY 4,505,736.20, an improvement from a net outflow of CNY 10,452,196.18 in Q1 2021[27] - The company reported a decrease in cash inflow from sales, totaling CNY 213,099,263.43 in Q1 2022, compared to CNY 221,623,476.88 in Q1 2021, a decline of 3.3%[27] - Cash and cash equivalents at the end of Q1 2022 totaled CNY 262,233,416.04, down from CNY 271,268,491.26 at the end of Q1 2021[28] - Investment activities resulted in a net cash outflow of CNY 17,523,231.07 in Q1 2022, compared to a net outflow of CNY 129,720,523.99 in Q1 2021[28] Sales and Distribution - In Q1 2022, the total sales revenue for Huangjiu products reached RMB 160.14 million, a year-on-year increase of 3.70% compared to RMB 154.43 million in Q1 2021[13] - The sales revenue from mid-to-high-end products was RMB 136.05 million, up 8.87% from RMB 124.97 million in the same period last year, while low-end products saw a decline of 18.23% to RMB 24.09 million[13] - Direct sales (including group purchases) generated RMB 41.99 million, a decrease of 2.41% from RMB 43.03 million, while wholesale agency sales increased by 6.06% to RMB 118.14 million[15] - Shanghai accounted for RMB 114.54 million in sales, a 7.37% increase from RMB 106.68 million, while Jiangsu and Zhejiang experienced declines of 4.57% and 23.53%, respectively[17] - The company added 16 new distributors but lost 85, resulting in a total of 945 distributors, a decrease of 69 from the end of 2021[18] Research and Development - Research and development expenses were RMB 689,767.32, a slight decrease from RMB 718,532.29 in Q1 2021, indicating a focus on cost management[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 87,085[9] - The largest shareholder, Shanghai Sugar and Tobacco Company, holds 34.88% of the shares[10] Earnings Per Share - The company’s basic earnings per share for Q1 2022 was CNY 0.01, compared to CNY 0.00 in Q1 2021[26]

Financial Performance - In 2021, the company's operating revenue was RMB 649,379,399, an increase of 6.83% compared to RMB 607,888,025 in 2020[18] - The net profit attributable to shareholders was a loss of RMB 12,845,796, a decrease of 204.95% from a profit of RMB 12,239,663 in 2020[18] - The total profit for the year was -18.74 million RMB, a decrease of 198.23% year-on-year[39] - The company's operating costs increased by 5.36% to 372.64 million RMB, reflecting the rise in revenue[40] - The basic earnings per share for 2021 was -0.02 yuan, a decline of 204.95% from 0.02 yuan in 2020[19] - The weighted average return on net assets was -0.66%, a decrease of 1.29 percentage points from 0.63% in 2020[19] - The company reported a total sales revenue of ¥63,110.34 million for the year, an increase of 5.93% compared to the previous year[69] - The sales volume for the company was 69,022 thousand liters, a slight decrease of 0.36% from the previous year[69] Cash Flow and Investments - The net cash flow from operating activities increased significantly to RMB 68,121,447, compared to a negative cash flow of RMB -27,192,567 in 2020[18] - The net cash flow from operating activities improved significantly, from a negative ¥10.45 million in Q1 to a positive ¥57.43 million in Q4[22] - The company's cash flow from operating activities for 2021 was ¥6,812.14 million, a significant increase from -¥2,719.26 million in 2020, marking a change of ¥9,531.40 million[58] - Investment activities resulted in a cash outflow of 155,753.0 million yuan, mainly due to increased outflows for financial products[55] - Financing activities led to a cash outflow of 32,725.2 million yuan, primarily for dividend payments of 20,070.1 million yuan[56] Research and Development - The company launched 10 new products and upgraded 17 existing products during the year, enhancing its innovation capabilities[30] - The company has applied for 2 invention patents and 2 utility model patents, reflecting its commitment to R&D and innovation[30] - Research and development expenses decreased by 15.14% to 3.01 million RMB, indicating a focus on cost control[40] - The company has established a comprehensive research and development system, including partnerships with various research institutions[35] - The number of R&D personnel was 13, accounting for 1.43% of the total workforce[53] Market Challenges and Strategies - The company faced challenges due to increased competition in the yellow wine market and rising raw material costs, impacting revenue growth[20] - The overall revenue and profit of the yellow wine industry showed a slight decline due to the ongoing impact of the pandemic, with market recovery slowing down[87] - The company aims to enhance brand awareness and consumer education through various offline activities and events[30] - The company aims to innovate and expand its product categories while maintaining a focus on high-quality rice for brewing[88] - The company plans to enhance its online sales strategy by establishing a direct e-commerce team and optimizing resource allocation[78] Environmental and Compliance - The company has established a comprehensive environmental protection management system and has not faced any environmental penalties or exceedances during the reporting period[159] - The company’s main pollutant emissions include 379.38 tons of COD and 93.43 tons of total nitrogen annually, adhering to local environmental standards[140] - The company has implemented low-nitrogen combustion technology in four gas boilers, completed in June 2020, and is operating normally[145] - Monthly third-party testing for wastewater and emissions is conducted to ensure compliance with environmental standards[149] - The company has established an emergency response plan for environmental pollution incidents, completed in June 2021[148] Governance and Management - The company is committed to maintaining transparency in its operations and governance practices, as reflected in its reporting on executive remuneration and board composition[113] - The company has a structured compensation system for its directors and senior management, which is approved by the board[113] - The company has a clear succession plan in place, as evidenced by the appointment of new executives following resignations[114] - The company has established a dedicated office to manage investor relations, responding promptly to inquiries through various interactive platforms[99] - The company completed a self-inspection of corporate governance as required by the Shanghai Securities Regulatory Bureau[100] Related Party Transactions - The total amount of related party transactions for purchasing goods and services in the reporting period was 44.3666 million RMB, with significant transactions including purchases from Guangming Rice Industry Group Co., Ltd. amounting to 32.6186 million RMB, accounting for 33.30% of similar transactions[178] - The total amount of related party transactions for sales of goods and services in the reporting period was 39.7961 million RMB, with significant transactions including sales to Shanghai Jieqiang Tobacco and Alcohol Group Distribution Co., Ltd. amounting to 28.7220 million RMB, accounting for 4.55% of similar transactions[179] Shareholder and Capital Structure - The company implemented a cash dividend policy, proposing a distribution of CNY 0.30 per 10 shares, totaling CNY 20,070,148.50[129] - The total number of shares and the capital structure of the company remained unchanged during the reporting period[199] - There were no significant changes in the company's share capital that would impact earnings per share or net assets per share in the last year or the most recent period[200] - The company did not report any impairment provisions for entrusted loans during the reporting period[198] Future Outlook - The company is committed to optimizing its supply chain management to enhance service and control functions, integrating suppliers, manufacturers, and distributors for better resource sharing[91] - The company recognizes risks from ongoing COVID-19 impacts and increased competition in the yellow wine market, which may limit performance growth[93] - The company plans to enhance its product structure by focusing on core SKUs and differentiating product sales layouts across regions, targeting mainstream price segments[90]

Financial Performance - The company's operating revenue for Q3 2021 was ¥161,554,970.78, a decrease of 1.54% compared to the same period last year[4] - The net profit attributable to shareholders was -¥272,676.66, representing a significant decline of 101.76% year-on-year[4] - The basic earnings per share for the current period was -¥0.0004, down 101.76% from the previous year[4] - The net profit attributable to shareholders for the year-to-date was -¥23,082,045.70, reflecting a decline of 2,757.16% compared to the previous year[4] - Net profit for the third quarter of 2021 was a loss of ¥26,053,860.59, compared to a profit of ¥6,843,230.06 in the same quarter of 2020, indicating a significant decline[24] - The company reported a basic and diluted earnings per share of -¥0.03, compared to ¥0.001 in the previous year, indicating a significant downturn in profitability[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,232,430,692.56, a decrease of 1.59% from the end of the previous year[4] - The company's total assets decreased to ¥2,232,430,692.56 from ¥2,268,420,218.88, reflecting a reduction of approximately 1.58%[19] - Total liabilities increased to ¥329,214,531.76 from ¥318,966,017.42, showing an increase of about 2.0%[19] - The total current liabilities were ¥253,990,941.20, a decrease of ¥5,047,765.11 compared to the previous period[31] - Non-current liabilities totaled ¥64,975,076.22, reflecting a decrease of ¥37,294,765.17[31] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥10,694,048.54, showing an increase of 10,328,100.00 compared to the same period last year[6] - Operating cash inflow for the first three quarters of 2021 was CNY 556,762,663.95, an increase of 3.9% compared to CNY 535,661,057.52 in the same period of 2020[25] - Net cash flow from operating activities was CNY 10,694,048.54, a significant recovery from a net outflow of CNY -92,586,986.28 in the previous year[26] - The company paid CNY 21,373,324.95 in dividends and interest, compared to CNY 16,846,568.44 in the same period last year, indicating a 27.5% increase[27] - The company’s cash flow from financing activities showed a net outflow of CNY -27,821,696.66, compared to a net outflow of CNY -16,846,568.44 in the previous year[27] Market and Sales - The company experienced a decrease in gross profit due to declining sales and rising costs, with a notable impact from the competitive market environment post-pandemic[6] - The company noted that the recovery of the yellow wine market demand has been relatively slow, impacting sales growth[6] - The company's total sales revenue for the first nine months of 2021 was RMB 40,030.62 million, a decrease of 0.61% compared to the same period in 2020[11] - Direct sales (including group purchases) generated RMB 10,441.60 million in revenue, up 2.08% year-on-year[11] - The mid-to-high-end product sales for the first nine months of 2021 were RMB 30,044.24 million, an increase of 11.62% year-on-year[14] Shareholder Information - The total number of common shareholders at the end of the reporting period was 104,780[8] - The largest shareholder, Shanghai Sugar Tobacco and Alcohol (Group) Co., Ltd., holds 233,352,334 shares, accounting for 34.88% of total shares[8] - The company reported a decrease in equity attributable to shareholders of ¥1,913,221,461.74, down 2.21% from the previous year-end[4] - The total equity attributable to shareholders decreased to ¥1,913,221,461.74 from ¥1,956,487,687.51, a decline of about 2.2%[19] - The company’s total equity, including minority interests, was ¥1,949,454,201.46, unchanged from the previous period[31]