Financial Performance - The company's operating revenue for 2018 was CNY 2,095,694,509.45, a decrease of 6.96% compared to CNY 2,252,422,120.89 in 2017[20] - The net profit attributable to shareholders of the listed company was a loss of CNY 44,864,886.54, compared to a profit of CNY 1,770,811.55 in 2017, representing a significant decline[20] - The basic earnings per share for 2018 was -0.0824 CNY, a decrease of 2,596.97% from 0.0033 CNY in 2017[21] - The total assets of the company at the end of 2018 were CNY 2,048,286,597.87, down 8.47% from CNY 2,237,802,076.34 in 2017[20] - The company's cash flow from operating activities was -CNY 56,475,489.13, an improvement of 65.48% compared to -CNY 163,603,705.44 in 2017[20] - The weighted average return on net assets was -4.31% in 2018, a decrease of 4.48 percentage points from 0.17% in 2017[21] - The net assets attributable to shareholders of the listed company decreased by 4.37% to CNY 1,017,124,178.52 at the end of 2018[20] - The total profit amounted to a loss of CNY 46.10 million, a year-on-year decline of 665.46%[39] - The operating cash flow net amount was a loss of CNY 56.48 million, an improvement of 65.48% compared to the previous year[48] Revenue Breakdown - In 2018, the company's total operating revenue was 2,095,694,509.45 RMB, with a quarterly breakdown of 557,348,193.72 RMB in Q1, 519,039,465.15 RMB in Q2, 466,924,546.71 RMB in Q3, and 552,382,303.87 RMB in Q4[23] - The company's main business revenue accounted for 95.71% of total revenue, with department store revenue at 47.32%, supermarket revenue at 8.18%, and home appliance revenue at 37.74%[27] - The self-operated revenue was CNY 898.32 million in 2018, with a gross margin of 11.79%, compared to CNY 952.55 million and 9.47% in 2017[60] - The company reported a total revenue of CNY 1,107.49 million from the joint venture model in 2018, with a gross margin of 14.81%[60] Marketing and Promotions - The company conducted 18 major promotional events throughout the year, contributing to 48.5% of sales through various marketing strategies[36] - The company organized over 10 online promotional events for poverty-stricken village agricultural products, generating sales exceeding 250,000 RMB[97] - The company achieved sales of CNY 1.07 billion from promotional events, representing a 10% year-over-year growth[63] Operational Challenges - The company faced legal disputes in its wholesale seafood business, leading to significant negative impacts on its performance[41] - The company recorded an asset impairment loss of CNY 42.91 million, significantly up by 1778.95% year-on-year, mainly due to bad debt provisions related to wholesale seafood business disputes[40] - The company has detailed the potential risks it may face in the report, particularly in the section discussing future development[6] Cash Flow and Financing - The cash flow from financing activities decreased by 83.63% to CNY 32.64 million, attributed to reduced borrowing cash and increased cash outflows for loan repayments and interest payments[48] - The company reported a net cash flow from operating activities of -27,178,894.30 RMB, an improvement from -185,047,707.94 RMB in the previous year, indicating a significant reduction in cash outflow[180] - The total cash inflow from financing activities was 406,630,314.55 RMB, compared to 494,949,490.56 RMB in the previous year, reflecting a decrease of approximately 17.8%[181] Shareholder Information - The total number of ordinary shareholders increased from 24,857 to 27,363 during the reporting period, reflecting a growth of approximately 9.0%[102] - The largest shareholder, Nanning Peining Asset Management Co., Ltd., holds 99,361,645 shares, representing 18.24% of the total shares[104] - The company has no significant changes in its ordinary share capital structure during the reporting period[101] Corporate Governance - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and managers[135] - The board of directors consists of 9 members, including 3 independent directors, meeting the legal requirements[134] - The company has maintained a consistent leadership structure with key personnel serving in their roles for several years[121] Social Responsibility - In 2018, the company helped 604 registered impoverished individuals to escape poverty through various initiatives[95] - The company invested a total of 53.80 million RMB in poverty alleviation efforts, including 43.50 million RMB specifically for industry development projects[95] - The company has been recognized as an advanced unit in poverty alleviation efforts by the local government for several consecutive years[97] Future Outlook - The company aims to enhance its core competitiveness and transform into a "quality life provider" by focusing on consumer needs and technological advancements in 2019[69] - The company has established a development strategy targeting regional market leadership, with plans to expand into ASEAN markets[68] - The company plans to implement a "micro-marketing" system and transition towards "Internet + retail" to adapt to changing consumer behaviors[68]

Financial Performance - The company's operating revenue for Q3 2021 was ¥196,371,069.26, representing a year-over-year increase of 2.77% and a year-to-date increase of 8.64%[5] - The net profit attributable to shareholders was -¥2,704,656.23, a decline of 78.96% year-over-year, while the year-to-date net profit was -¥7,594,171.28, down 85.02% compared to the same period last year[5] - The basic and diluted earnings per share were both -¥0.0050, reflecting an increase of 78.81% year-over-year due to the growth in net profit[6] - The company's operating profit increased by 82.44% year-over-year, driven by the growth in operating revenue and gross profit[9] - The total profit for the period increased by 90.74% year-over-year, attributed to the absence of provisions for expected liabilities from the previous year and increased operating revenue[9] - The net profit for Q3 2021 was -7,594,171.28 CNY, a significant decrease compared to -50,679,656.94 CNY in Q3 2020, indicating an improvement in performance year-over-year[21] - The total comprehensive income for Q3 2021 was -7,594,171.28 CNY, compared to -50,679,656.94 CNY in the same period last year, reflecting a reduction in losses[21] - Basic and diluted earnings per share for Q3 2021 were both -0.0139 CNY, an improvement from -0.0930 CNY in Q3 2020[21] Cash Flow and Expenses - The net cash flow from operating activities was -¥9,865,760.03, a decrease of 141.01% compared to the previous year[6] - Cash flow from operating activities for the first three quarters of 2021 was -11,299,973.53 CNY, an improvement from -31,527,108.53 CNY in the same period of 2020[22] - The company incurred management expenses of 82,120,903.60 CNY in Q3 2021, a decrease from 128,362,196.85 CNY in Q3 2020, indicating improved cost management[21] - Cash inflow from financing activities in Q3 2021 was 300,760,643.38 CNY, down from 323,436,472.35 CNY in Q3 2020[23] - Cash outflow from financing activities increased to 327,662,227.72 CNY in Q3 2021, compared to 237,663,704.97 CNY in Q3 2020[23] - The net cash flow from investing activities for Q3 2021 was -3,445,919.74 CNY, an improvement from -17,655,428.24 CNY in Q3 2020[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,703,029,476.25, a decrease of 5.60% from the end of the previous year[6] - Total current assets were RMB 444,057,396.39, down from RMB 513,840,846.66 at the end of 2020, a decrease of about 13.5%[15] - Total assets as of September 30, 2021, were RMB 1,703,029,476.25, compared to RMB 1,804,097,808.15 at the end of 2020, showing a decline of approximately 5.6%[16] - The company reported a total liability of RMB 817,384,443.54 as of September 30, 2021, down from RMB 910,858,604.16 at the end of 2020, a reduction of about 10.2%[17] - Current liabilities reached approximately $871.11 million, including short-term borrowings of about $274.33 million and accounts payable of approximately $258.45 million[26] - Total liabilities were approximately $910.86 million, with non-current liabilities accounting for about $39.75 million[27] Equity and Shareholder Information - The company's equity attributable to shareholders was RMB 885,645,032.71, slightly decreasing from RMB 893,239,203.99 at the end of 2020, a decline of approximately 0.7%[17] - Shareholders' equity totaled approximately $893.24 million, with an accumulated deficit of about $77.37 million[27] Accounts Receivable and Inventory - The accounts receivable increased by 151.27% year-over-year, primarily due to the growth in the home appliance wholesale business and installation service fees[9] - Accounts receivable increased to RMB 11,413,890.38 from RMB 4,542,452.05 year-over-year, representing a significant increase of approximately 151.1%[15] - Inventory decreased to RMB 104,197,152.16 from RMB 117,493,586.58 at the end of 2020, a decline of about 11.3%[15]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 403,746,614, representing an increase of 11.75% compared to CNY 361,294,081.34 in the same period last year[20]. - The net profit attributable to shareholders was a loss of CNY 4,889,515.05, an improvement of 87.07% from a loss of CNY 37,824,694.36 in the previous year[20]. - The net cash flow from operating activities improved significantly, with a net outflow of CNY 1,434,213.50, a 97.42% reduction from CNY 55,583,987.50 in the same period last year[20]. - The company's operating income for the reporting period was ¥403,746,614, representing an increase of 11.75% compared to ¥361,294,081 in the previous year[38]. - The company's operating costs rose by 18.36% to ¥295,044,212 from ¥249,281,380 in the previous year[38]. - The company's net profit for the first half of 2021 was -4,889,515.05, a decrease of 87.07% compared to the previous year[39]. - Operating revenue showed a recovery due to reduced impact from COVID-19, leading to a significant increase in sales compared to the previous year[39]. - The total profit decreased by 93.40% year-on-year, primarily due to the absence of provisions for expected liabilities that were recorded in the previous year[40]. - Cash flow from operating activities increased due to higher sales, resulting in a year-on-year increase in cash received[40]. - The company reported a gross profit margin of approximately 26.5% for the first half of 2021, compared to 30.9% in the same period of 2020[97]. Assets and Liabilities - The total assets decreased by 8.02% to CNY 1,659,331,643.05 from CNY 1,804,097,808.15 at the end of the previous year[20]. - The company's net assets attributable to shareholders decreased slightly by 0.55% to CNY 888,349,688.94 from CNY 893,239,203.99 at the end of the previous year[20]. - The company's cash and cash equivalents decreased by 27.21% to 220,242,426.58, primarily due to loan repayments[41]. - Accounts receivable increased by 22.59% to 5,568,542.45, mainly due to increased installation fees from suppliers[41]. - Inventory decreased by 20.65% to 93,232,753.63, reflecting the company's strict control over stock levels[42]. - Short-term borrowings decreased by 27.09% to 200,000,000.00, primarily due to the repayment of bank loans[42]. - The company's long-term prepaid expenses decreased by 84.69% to 33,695,167.82, attributed to the recognition of right-of-use assets under new leasing standards[42]. - Total liabilities decreased from CNY 910,858,604.16 to CNY 770,981,954.11, a reduction of approximately 15.4%[91]. - Current liabilities decreased from CNY 871,110,736.89 to CNY 731,620,444.11, a decline of about 16.0%[91]. Business Operations - The company operates in the retail sector, with a focus on department stores, electronics, supermarkets, and e-commerce[25]. - The company's main business revenue accounted for 90.76% of total operating income, with retail formats including department stores (16.10%), home appliances (53.01%), supermarkets (15.00%), automotive (11.20%), and e-commerce (0.99%)[27]. - The company plans to enhance its main business capabilities and adapt to consumer demand changes, particularly in the department store and home appliance sectors[34]. - The company aims to accelerate digital transformation and establish a new retail ecosystem centered around consumer needs[36]. - The company is focusing on expanding its market presence and enhancing customer experience through store upgrades and innovative marketing strategies[34]. - The company is exploring new growth points by innovating its product offerings and enhancing service solutions in the home appliance sector[36]. Shareholder Information - The total number of ordinary shareholders reached 43,460 by the end of the reporting period[79]. - The total number of shares with limited sale conditions decreased by 184,320 shares, resulting in 6,099,149 shares, which is 1.12% of total shares[77]. - The total number of unrestricted circulating shares increased by 184,320 shares, totaling 538,556,211 shares, which is 98.88% of total shares[77]. - The top ten shareholders hold a combined total of 244,000,000 shares, representing 44.83% of total shares[80]. - The largest shareholder, Nanning Futian Investment Co., Ltd., holds 102,687,831 shares, accounting for 18.85% of total shares[80]. - Nanning Peining Asset Management Co., Ltd. is the second-largest shareholder with 99,491,492 shares, representing 18.27% of total shares[80]. Legal and Regulatory Matters - The company is involved in several commercial litigation cases, which could have significant adverse effects on its financial position[49]. - The company is currently involved in significant litigation related to a real estate sales contract dispute, with ongoing appeals and a re-examination process in the Guangxi High Court[66]. - The company has reached a mediation agreement with Nanning Yizilian Rice Industry Co., Ltd., but is still in the court's enforcement phase for the outstanding debts[66]. - The company is undergoing a transformation to adapt to industry changes, which may lead to temporary declines in sales and rental income[48]. Environmental and Social Responsibility - The company has implemented energy-saving lighting systems in stores to reduce CO2 and SO2 emissions, contributing to environmental protection[56]. - The company has completed the sewage system connection to the municipal sewage network, ensuring full collection and treatment of wastewater[57]. - The company has optimized vehicle usage and conducted regular maintenance to reduce vehicle emissions[58]. - The company mandates the use of clean energy in its canteens and has installed oil separation facilities to manage wastewater[59]. - The company has established a waste classification management system to promote waste reduction and resource management[61]. - The company has actively participated in poverty alleviation and rural revitalization efforts, including organizing community support activities[63]. Management and Governance - Recent changes in management include the election of He Hua as a director and Luo Xiaoyong as a supervisor during the 2021 first extraordinary general meeting[53]. - The company has proposed no profit distribution or capital reserve fund transfer for the half-year period, with no dividends or stock bonuses planned[54]. - There are no updates or changes regarding the company's equity incentive plans or employee stock ownership plans[55]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period[84]. - The company did not issue any corporate bonds or convertible bonds during the reporting period[86]. Accounting Policies and Financial Instruments - The company has implemented a new leasing standard effective from January 1, 2021, which does not require retrospective adjustments to prior periods[124]. - The company recognizes the operating results and cash flows of subsidiaries from the date control is obtained[135]. - Financial instruments are classified based on the business model and cash flow characteristics at initial recognition[140]. - The company recognizes expected credit losses based on the risk of default for financial assets measured at amortized cost and other relevant financial instruments[147]. - The company measures the fair value of financial instruments using observable inputs when available, and only uses unobservable inputs when necessary[147]. - The company recognizes revenue when control of the goods or services is transferred to the customer, which includes conditions such as the customer having a present obligation to pay[198].

证券代码：600712 证券简称：南宁百货 公告编号：临 2021－028 南宁百货大楼股份有限公司 关于参加投资者网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，南宁百货大楼股份有限公 司（以下简称：公司）将参加由广西上市公司协会、深圳市全景网 络有限公司共同举办的"2021 年广西地区上市公司投资者网上集体 接待日活动"，现将有关事项公告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互 联网平台举行，投资者可以登陆"全景·投资者关系互动平台"网站 （http：//ir.p5w.net）参与公司本次投资者集体接待日活动，活动 时间为 2021 年 5 月 21 日（星期五）15:30 至 17:00。 届时公司总经理、董事会秘书、财务部门负责人将通过网络在线 问答互动的形式，与投资者就公司治理、发展经营情况等投资者关注 的问题进行交流。期间，公司高管将通过全景网投资者关系互动平台 在线实时回答投资者的提问。 欢迎广大投资者积极参与。 特此公告。 南 ...

Financial Performance - Operating revenue increased by 27.73% to CNY 196,492,602.82 year-on-year[6] - Net profit attributable to shareholders reached CNY 1,029,541.06, a significant turnaround from a loss of CNY 39,090,098.47 in the same period last year, representing a 102.63% increase[6] - Basic and diluted earnings per share improved to CNY 0.00 from CNY -0.07, marking a 100% increase[6] - The gross profit increased due to a rise in operating income, contributing to the overall profit growth[16] - The basic/diluted earnings per share improved due to the increase in net profit during the period[16] - Net profit for Q1 2021 was CNY 1,029,541.06, a significant recovery from a net loss of CNY 39,090,098.47 in Q1 2020[30] - The company's operating revenue for Q1 2021 was ¥131,800,233.53, a 34.5% increase from ¥97,940,176.50 in Q1 2020[32] - The total comprehensive income for Q1 2021 was ¥9,604,308.37, compared to -¥30,414,087.20 in Q1 2020[33] Cash Flow - The net cash flow from operating activities improved by 55.83%, amounting to CNY -28,993,223.91, compared to CNY -65,644,248.53 in the previous year[6] - The net cash flow from investing activities improved by 44.18%, from -209,201.25 RMB to -116,778.79 RMB, mainly due to cash inflows from the disposal of fixed assets[18] - The net cash flow from financing activities decreased by 49.35%, from 34,791,840.77 RMB to 17,621,269.69 RMB, primarily due to fewer bank loans obtained during the period[18] - Cash flow from operating activities for Q1 2021 was -¥28,993,223.91, an improvement from -¥65,644,248.53 in Q1 2020[34] - The company reported a total cash inflow from operating activities of $325,026,158.33, compared to $131,276,097.01 in the previous year, indicating a significant increase in cash inflows[36] Assets and Liabilities - Total assets decreased by 3.14% to CNY 1,747,418,584.64 compared to the end of the previous year[6] - Total liabilities decreased from 910,858,604.16 RMB to 853,149,839.59 RMB, reflecting a reduction in current liabilities[24] - The company's total equity increased slightly from 893,239,203.99 RMB to 894,268,745.05 RMB, showing a marginal improvement in shareholder equity[24] - The company's total assets decreased to CNY 1,992,694,299.46 as of March 31, 2021, down from CNY 2,029,864,527.89 at the end of 2020[27] - Current assets totaled CNY 865,181,084.03, a decrease of 2.6% from CNY 886,337,161.11 at the end of 2020[26] - Total liabilities decreased to CNY 884,713,103.24 from CNY 931,487,640.04, indicating a reduction of 5.0%[27] - The company's equity increased to CNY 1,107,981,196.22, up from CNY 1,098,376,887.85, reflecting a growth of 0.2%[28] Management and Expenses - The company's management expenses decreased by 48.51% to CNY 21,331,169.33 compared to the previous year[14] - Total operating costs for Q1 2021 were CNY 194,739,309.73, up from CNY 172,606,505.00 in Q1 2020, reflecting a 12.8% increase[29] - The company received government subsidies amounting to CNY 879,695.00 related to vocational skills training[6] - The company received increased government subsidies related to its daily operations compared to the same period last year[16] Shareholder Information - The number of shareholders increased to 47,334, with the largest shareholder holding 18.85% of the shares[9]

Financial Performance - The company reported a net profit of approximately -130.25 million yuan for 2020, a decrease of 2,841.89% compared to the previous year[5]. - Total operating revenue for 2020 was 779.40 million yuan, representing a decline of 58.05% from 1.86 billion yuan in 2019[20]. - Basic earnings per share for 2020 were -0.24 yuan, a decrease of 2,500% compared to 0.01 yuan in 2019[21]. - The weighted average return on net assets was -13.58% in 2020, a decrease of 14.05 percentage points from 0.47% in 2019[21]. - The total profit for the period was -147.2 million RMB, representing a year-on-year decline of 1,563.17%[41]. - The net profit attributable to shareholders was -130.3 million RMB, down 2,841.89% compared to the previous year[41]. - The company reported a significant loss in retained earnings, with an amount of -¥77.37 million, reflecting a 241.91% decrease compared to the previous period[54]. - The company's total revenue for 2020 was approximately ¥559.27 million, a significant decrease of 61.5% compared to ¥1.45 billion in 2019[192]. - The net profit for 2020 was a loss of approximately ¥130.25 million, compared to a profit of ¥4.75 million in 2019, indicating a substantial decline in profitability[191]. Asset and Liability Management - The company's total assets decreased by 4.70% to 1.80 billion yuan at the end of 2020, down from 1.89 billion yuan in 2019[20]. - The company’s net assets attributable to shareholders decreased by 12.87% to 893.24 million yuan at the end of 2020[20]. - The total liabilities of the company as of December 31, 2020, were not explicitly stated but can be inferred from the current liabilities and other financial obligations[182]. - The company's total liabilities increased to 931,487,640.04 RMB in 2020 from 869,817,507.52 RMB in 2019, representing a growth of 7.8%[187]. - The total equity attributable to shareholders decreased to 1,098,376,887.85 RMB in 2020 from 1,247,001,666.78 RMB in 2019, a decline of 12%[187]. Cash Flow Analysis - Cash flow from operating activities was 17.93 million yuan, down 40.68% from 30.22 million yuan in 2019[20]. - The net cash flow from operating activities decreased by 40.68% to ¥17.93 million, primarily due to a decline in sales[52]. - The net cash flow from investing activities was negative at ¥25.49 million, significantly increasing by 3614.18% due to high cash outflows for store renovations[52]. - The cash inflow from operating activities was CNY 1,575,965,017.64, a decrease of 26.5% compared to CNY 2,146,981,573.48 in 2019[194]. - The net cash flow from financing activities improved to CNY 28,751,424.66 in 2020, compared to -CNY 64,976,400.63 in 2019, showing a significant turnaround[195]. Revenue and Cost Management - The total operating costs for 2020 were approximately ¥413.88 million, a decrease from ¥1.17 billion in 2019, reflecting cost-cutting measures[192]. - The total cost of goods sold in the retail segment decreased by 62.88% compared to the previous year, amounting to approximately ¥558.52 million[49]. - The gross profit margin for the retail sector increased by 6.23 percentage points to 20.98% despite a revenue decline of 59.96%[46]. - The company's total operating revenue for 2020 was 779,402,861.81 RMB, a decrease of 58.1% compared to 1,857,804,073.80 RMB in 2019[189]. Strategic Initiatives and Future Outlook - The company initiated the "14th Five-Year" development strategy planning in 2020, focusing on future growth objectives and key tasks[37]. - The company is focusing on integrating online and offline sales channels to adapt to changing consumer behaviors and market conditions[78]. - The company plans to enhance its main business capabilities by increasing brand management and introducing benchmark brands to meet consumer demands[81]. - The company aims to accelerate its digital transformation by developing a "cloud shopping" platform and enhancing its membership and marketing digitalization[82]. - The company anticipates that the retail industry will face challenges due to the ongoing impact of the COVID-19 pandemic, but sees potential for long-term growth driven by consumer trends and technological advancements[78]. Governance and Compliance - The company has established a comprehensive information disclosure system to ensure timely and accurate reporting[152]. - The audit report confirmed that there were no significant misstatements in the financial statements, providing reasonable assurance of their accuracy[177]. - The company has not reported any significant accounting errors or changes that would require retrospective adjustments[96]. - The company has not faced any risks of suspension or termination of its listing status during the reporting period[98]. Social Responsibility and Community Engagement - The company has invested over 1.3367 million RMB in 10 poverty alleviation projects, helping 59 registered impoverished individuals to escape poverty[115]. - The company has contributed approximately 500,000 RMB worth of anti-epidemic supplies to support medical institutions during the COVID-19 pandemic[117]. - The company has implemented a "Winter Sun" charity event, raising approximately 400,000 RMB in donations for impoverished areas[112]. - The company organized 6 agricultural product exhibitions, generating sales exceeding 100,000 RMB from nearly 40 impoverished villages[109]. Shareholder Information - The total number of ordinary shareholders increased from 47,334 to 50,819 during the reporting period[123]. - The largest shareholder, Nanning Futian Investment Co., Ltd., holds 102,687,831 shares, representing 18.85% of the total shares[124]. - Nanning Peining Asset Management Co., Ltd. holds 99,491,492 shares, accounting for 18.27% of the total shares, with an increase of 40,107 shares during the reporting period[124]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 3.1458 million yuan[137].

Financial Performance - Net profit attributable to shareholders decreased by 943.73% to a loss of CNY 50,679,656.94 for the first nine months[6] - Operating revenue for the first nine months dropped by 59.10% to CNY 552,374,649.69 compared to the same period last year[6] - Basic and diluted earnings per share were both CNY -0.0930, a decrease of 945.45% compared to the previous year[7] - Net profit for the third quarter of 2020 was a loss of CNY 50,679,656.94, a decline of 943.73% compared to a profit of CNY 6,006,632.17 in the third quarter of 2019[13] - Total operating revenue for Q3 2020 was ¥191,080,568.35, a decrease from ¥420,317,805.29 in Q3 2019, representing a decline of approximately 54.5%[25] - Net profit attributable to shareholders for Q3 2020 was -¥12,854,962.58, down from a profit of ¥5,021,019.95 in Q3 2019, marking a significant decline[26] - The company’s total profit for Q3 2020 was -¥12,854,962.58, down from ¥5,680,546.36 in Q3 2019, reflecting a significant decline[25] Cash Flow and Liquidity - The net cash flow from operating activities for the first nine months was negative at CNY -31,527,108.53, a decrease of 241.77% year-on-year[6] - Cash flow from operating activities showed a net outflow of CNY 31,527,108.53, a decrease of 241.77% compared to a net inflow of CNY 22,238,670.19 in the same period of 2019[13] - The net cash flow from operating activities for Q3 2020 was -8,546,711.15 CNY, a decrease from 55,180,303.05 CNY in Q3 2019[34] - Cash and cash equivalents at the end of Q3 2020 increased to 257,228,752.97 CNY from 217,349,128.55 CNY at the end of Q2 2020, reflecting a net increase of 36,590,230.61 CNY[31] - The company experienced a net cash increase of 59,624,921.23 CNY in Q3 2020, contrasting with a decrease of -26,177,361.06 CNY in Q3 2019, indicating improved liquidity[34] Assets and Liabilities - Total assets decreased by 2.14% to CNY 1,852,649,395.75 compared to the end of the previous year[6] - The company reported a significant increase in expected liabilities by 169.25%, amounting to CNY 36,687,031.23 compared to CNY 13,625,603.65 in the previous year[12] - Total liabilities increased significantly, reflecting the impact of the pandemic on the company's financial position[12] - Owner's equity decreased from CNY 1,025,125,341.23 to CNY 972,811,718.21, a decline of approximately 5.1%[19] - Total liabilities increased from CNY 867,944,307.35 to CNY 879,837,677.54, reflecting a growth of about 1.0%[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 54,502[9] - The largest shareholder, Nanning Futian Investment Co., Ltd., holds 18.85% of the shares, amounting to 102,687,831 shares[9] Inventory and Receivables - Accounts receivable increased by 41.28% to CNY 5,483,572.01 due to increased receivables from home appliance companies[11] - The company’s inventory decreased by 5.25% to CNY 108,254,508.01 from CNY 114,515,013.63 year-on-year[17] - Inventory decreased from CNY 83,385,456.85 to CNY 76,065,833.46, a decline of approximately 8.8%[21] Government Support - Government subsidies received amounted to CNY 13,009,956.80, including employment and resumption subsidies[8] Financial Expenses - The company’s financial expenses decreased by 24.74% to CNY 10,401,005.84 from CNY 13,819,188.20 year-on-year due to lower loan interest rates[12] - The company’s financial expenses for Q3 2020 were ¥4,227,085.68, compared to ¥3,911,222.04 in Q3 2019, indicating an increase of about 8.0%[25]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 361,294,081.34, a decrease of 61.16% compared to CNY 930,224,395.05 in the same period last year[20]. - The net profit attributable to shareholders was a loss of CNY 37,824,694.36, compared to a profit of CNY 985,612.22 in the previous year, representing a decrease of 3,937.69%[20]. - The net cash flow from operating activities was a negative CNY 55,583,987.50, worsening from a negative CNY 16,243,648.14 in the same period last year, a decline of 242.19%[20]. - The company's total assets decreased by 1.93% to CNY 1,856,601,739.38 from CNY 1,893,069,648.58 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 3.85% to CNY 985,666,680.79 from CNY 1,025,125,341.23 at the end of the previous year[20]. - The basic earnings per share for the first half of 2020 was -CNY 0.0694, a decrease of 3,955.56% compared to CNY 0.0018 in the same period last year[21]. - The weighted average return on net assets was -3.76%, a decrease of 3.86 percentage points from 0.0970% in the previous year[21]. - The company reported a 67.04% decrease in operating costs, totaling 249,281,380.18 RMB[40]. - The total revenue for the first half of 2020 was CNY 361,294,081.34, a significant decrease from CNY 930,224,395.05 in the same period of 2019, representing a decline of approximately 61%[90]. - The total operating costs for the first half of 2020 amounted to CNY 390,776,966.57, compared to CNY 927,677,095.74 in the previous year, indicating a reduction of about 58%[90]. Cash Flow and Liquidity - The company experienced a 242.19% decline in net cash flow from operating activities, amounting to -55,583,987.50 RMB[40]. - The cash flow from operating activities showed a significant decline, indicating potential challenges in revenue generation[100]. - The cash and cash equivalents at the end of the first half of 2020 increased to ¥258,807,031.76, compared to ¥202,262,617.51 at the end of the first half of 2019[97]. - The company raised ¥184,000,000.00 through borrowings in the first half of 2020, compared to ¥100,000,000.00 in the same period of 2019[97]. - The total cash inflow from financing activities in the first half of 2020 was ¥233,436,472.35, an increase from ¥178,673,810.76 in the first half of 2019[97]. Assets and Liabilities - The company's total assets as of June 30, 2020, were CNY 2,121,449,691.49, slightly up from CNY 2,116,819,174.30 at the end of 2019[89]. - Total liabilities amounted to CNY 870,935,058.59, slightly up from CNY 867,944,307.35, showing a marginal increase of about 0.2%[85]. - The company's equity attributable to shareholders decreased to CNY 985,666,680.79 from CNY 1,025,125,341.23, a decline of approximately 3.9%[86]. - Short-term borrowings rose significantly to CNY 304,000,000.00 from CNY 220,000,000.00, marking an increase of about 38.2%[85]. - The estimated liabilities surged by 169.25% to ¥36.69 million from ¥13.63 million year-on-year[44]. Business Operations and Strategy - The main business revenue accounted for 91.78% of total revenue, with the appliance sector contributing 53.19%[27]. - The company operates primarily through a joint venture model, with rental income making up 2.43% of total revenue[27]. - The company is focusing on digital transformation and enhancing online sales channels to adapt to changing consumer behavior during the pandemic[37]. - The company has a strategic advantage due to its location in Nanning, a key economic hub in Southern China, benefiting from regional economic growth initiatives[34]. - The company implemented rent reductions for tenants from February to June 2020, in response to government policies, to support them during the pandemic[37]. Social Responsibility and Community Engagement - The company has committed to poverty alleviation efforts, with a total investment of 77 million RMB and assistance to 59 registered impoverished individuals[60]. - The company has initiated 10 industry development poverty alleviation projects with an investment of 133.67 million RMB[60]. - The company continues to focus on consumption poverty alleviation by promoting internal procurement of poverty alleviation products[59]. - The company provided 9.9 million RMB for housing renovation projects for impoverished households and 16 million RMB for infrastructure development in designated assistance villages[62]. - The company organized internal consumption procurement of agricultural products from designated poverty alleviation villages amounting to 203,000 RMB[64]. Legal and Compliance Matters - The company has ongoing significant litigation matters, including 12 cases related to a sales contract dispute with Zhanjiang Xujun Aquatic Products Co., Ltd.[54]. - The company has not disclosed any significant related party transactions during the reporting period[56]. - The company has retained Sichuan Huaxin (Group) CPA as its financial audit and internal control audit institution for the 2020 fiscal year[53]. - The company has not issued any non-standard audit reports for the current or previous fiscal year[54]. - The company has not reported any major lawsuits or arbitration matters that have not been disclosed in temporary announcements[55]. Accounting Policies and Financial Reporting - The financial report was approved by the board of directors on August 24, 2020[114]. - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[121]. - The company applies the equity method for accounting for investments in joint ventures and recognizes its share of assets and liabilities accordingly[130]. - The company recognizes expected credit losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income, based on the risk of default[138]. - The company assesses asset impairment by determining the recoverable amount, which is the higher of the asset's fair value less costs to sell and the present value of expected future cash flows[198].

Financial Performance - The company's operating revenue for 2019 was CNY 1,857,804,073.80, a decrease of 12.76% compared to CNY 2,129,457,581.44 in 2018[19] - The net profit attributable to shareholders for 2019 was CNY 4,750,457.09, a significant increase of 110.59% from a loss of CNY 44,864,886.54 in 2018[19] - The net cash flow from operating activities improved to CNY 30,219,820.76, a 153.51% increase from a negative cash flow of CNY 56,475,489.13 in 2018[19] - The total assets of the company decreased by 7.58% to CNY 1,893,069,648.58 at the end of 2019, down from CNY 2,048,286,597.87 in 2018[19] - The basic earnings per share for 2019 was CNY 0.0087, compared to a loss of CNY 0.0824 per share in 2018, marking an increase of 110.56%[20] - The weighted average return on net assets improved to 0.47% in 2019, an increase of 4.78 percentage points from -4.31% in 2018[20] - The total profit reached CNY 10.06 million, an increase of 121.83% compared to the previous year[42] - Net profit attributable to shareholders was CNY 4.75 million, reflecting a year-on-year growth of 110.59%[42] - The company improved its operating profit to CNY 16.91 million, a significant turnaround from a loss of CNY 39.44 million in the previous year, marking a 142.88% increase[44] - The gross margin for retail products increased by 1.48 percentage points to 14.75% despite a decline in sales[48] Revenue and Sales - In 2019, the company's total operating revenue was approximately 1.86 billion RMB, with quarterly revenues of 477.3 million, 452.9 million, 420.3 million, and 507.3 million RMB respectively[22] - The net profit attributable to shareholders for the year was -1.26 million RMB, with quarterly figures of 131.3 thousand, 854.3 thousand, 5.02 million, and -1.26 million RMB[22] - The company achieved a significant improvement in net profit after deducting non-recurring gains and losses, totaling 6.46 million RMB in Q4, compared to 4.3 million in Q3[22] - The cash flow from operating activities showed a positive trend, with Q3 generating 38.48 million RMB and Q4 generating 7.98 million RMB[22] - The company reported a total revenue of 1,021.23 million yuan from the joint operation model in 2019, with a gross profit margin of 14.41%[64] - The self-operated model generated revenue of 743.95 million yuan in 2019, achieving a gross profit margin of 15.22%[64] - The department store segment reported a revenue of ¥1,444,181,327.35 in 2019, down 15.09% from ¥1,700,817,476.61 in 2018[70] - The e-commerce segment experienced a significant decline, with revenue falling to ¥11,992,622.32, a decrease of 35.37% compared to ¥18,555,185.65 in 2018[70] Cash Flow and Financial Position - The cash flow from operating activities turned positive at CNY 30.22 million, a significant improvement from a negative CNY 56.48 million in the previous year[44] - The company's net cash flow from financing activities decreased by 299.09% to -¥64,976,400.63, mainly due to a reduction in bank loan receipts[53] - Total current assets decreased to ¥506,364,521.90 in 2019 from ¥590,636,468.54 in 2018, a decline of approximately 14.2%[184] - Accounts receivable decreased to ¥3,881,362.55 in 2019 from ¥5,118,620.38 in 2018, representing a reduction of about 24.2%[184] - Inventory decreased to ¥114,515,013.63 in 2019 from ¥133,580,988.05 in 2018, a decrease of approximately 14.3%[184] - Total non-current assets decreased to ¥1,386,705,126.68 in 2019 from ¥1,457,650,129.33 in 2018, a decline of about 4.9%[185] - Total liabilities decreased to ¥867,944,307.35 in 2019 from ¥1,031,162,419.35 in 2018, a decline of about 15.8%[185] - Owner's equity increased to ¥1,025,125,341.23 in 2019 from ¥1,017,124,178.52 in 2018, an increase of approximately 0.8%[186] Strategic Initiatives and Market Position - The company has been recognized as one of the "Top 100 Enterprises in Guangxi" and "Top 50 Service Enterprises in Guangxi" in 2019, highlighting its market position[28] - The retail strategy includes a focus on upgrading store formats and enhancing customer experience, with initiatives like "one store, one policy" to adapt to consumer trends[34] - The company is expanding its automotive segment by upgrading its dealership and establishing a new energy vehicle exhibition hall in collaboration with Geely[36] - The company has conducted over 300 promotional activities throughout the year to enhance online and offline integration in its new retail strategy[35] - The company is exploring new marketing strategies, including cultural and experiential marketing, to boost sales across various business segments[37] - The company aims to transition towards a "micro-marketing" system and move towards "Internet + retail" smart shopping goals[76] - The supermarket segment is expected to accelerate community fresh food layouts and expand online channels to capture market share[75] Risk Management and Compliance - The company has outlined potential risks in its future development, which are detailed in the report[6] - The company is actively managing risks by refining investment plans and enhancing internal control systems[41] - The company has received a warning letter from the China Securities Regulatory Commission in May 2019, urging improvements in accounting practices and information disclosure quality[101] - In December 2019, the company faced disciplinary action from the Shanghai Stock Exchange for issues related to its financial reporting[101] - The company has implemented corrective measures, including adjustments to inventory and prepayments, with no impact on total assets or equity[102] - A total of 21 internal control and risk management policies have been developed and revised during the reporting period to enhance operational safety[102] Corporate Social Responsibility - The company invested CNY 150,000 in 2019 to support the development of three targeted poverty alleviation villages, focusing on industrial development and infrastructure improvement[111] - The company facilitated the sale of agricultural products from nearly 40 poverty-stricken villages, generating sales of approximately CNY 100,000 through promotional events[108] - The company helped 320 registered impoverished individuals to escape poverty, with a total investment of CNY 658,300 in various poverty alleviation initiatives[112] - The company organized multiple online and offline promotional activities for poverty alleviation products, enhancing the sales channels for rural agricultural products[109] - The company plans to continue leveraging its e-commerce platform to support poverty alleviation by integrating online sales and logistics for agricultural products[113] Shareholder Information - The total number of ordinary shares is 544,655,360, with 98.77% being freely tradable shares[121] - The total number of shareholders increased from 53,359 to 72,876 during the reporting period[126] - The largest shareholder, Nanning Futian Investment Co., Ltd., holds 102,687,831 shares, accounting for 18.85% of the total shares[128] - The combined shareholding of Nanning Peining and Nanning Agricultural and Industrial Group Co., Ltd. is 115,451,385 shares, which constitutes 21.20% of the total share capital[133] - The report indicates that there are no known relationships or concerted actions among the top shareholders[131] Governance and Management - The company has a total of 9 directors, with 3 independent directors, accounting for over one-third of the board[159] - The board held 4 meetings during the reporting period, adhering to the rules of procedure[159] - The company has implemented a transparent performance evaluation and incentive mechanism for directors and managers[160] - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2019[168] - The audit opinion indicates that the financial statements comply with accounting standards and provide a true view of the company's performance[169]

Financial Performance - Operating revenue fell by 67.77% to CNY 153,832,731.96 year-on-year[5] - Net profit attributable to shareholders decreased significantly to CNY -39,090,098.47, a decline of 29,879.46% compared to the same period last year[5] - Basic and diluted earnings per share were both CNY -0.0718, reflecting a decrease of 36,000% compared to the previous year[5] - The total profit was CNY -43,843,207.15, a significant decrease of 3,574.91% from CNY 1,261,708.50 in the prior year[15] - The net profit for the period was CNY -39,090,098.47, compared to a profit of CNY 131,265.30 in the same period last year, reflecting a decline of 29,879.46%[15] - Total revenue for Q1 2020 was ¥153.83 million, a decrease of 67.8% compared to ¥477.30 million in Q1 2019[31] - The net profit for Q1 2020 was a loss of ¥39.09 million, compared to a profit of ¥0.13 million in Q1 2019, reflecting a substantial decline in profitability[32] - The total profit for Q1 2020 was a loss of ¥35,167,195.88, compared to a profit of ¥7,536,288.01 in Q1 2019[35] Assets and Liabilities - Total assets decreased by 4.53% to CNY 1,807,366,173.74 compared to the end of the previous year[5] - Deferred tax assets increased by 42.13% to CNY 16,034,636.35 due to court rulings related to a contract dispute[12] - The company reported a significant increase in estimated liabilities by 232.56% to CNY 45,312,994.88, attributed to the same court ruling[12][13] - The total liabilities decreased to CNY 821,330,930.98 from CNY 867,944,307.35 year-on-year[25] - The company reported a significant increase in expected liabilities to CNY 45,312,994.88 from CNY 13,625,603.65 in the previous year[25] - Current liabilities decreased to ¥779.81 million from ¥861.89 million, a reduction of about 9.5%[29] - The company’s total equity decreased to ¥1.22 billion from ¥1.25 billion, reflecting a decline of about 2%[29] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -65,644,248.53, worsening by 184.53% year-on-year[5] - The net cash flow from operating activities was CNY -65,644,248.53, a decline of 184.53% compared to CNY -23,071,125.70 in the previous year[18] - The cash flow from operating activities for Q1 2020 was a net outflow of ¥65,644,248.53, worsening from a net outflow of ¥23,071,125.70 in Q1 2019[38] - The total cash inflow from operating activities in Q1 2020 was ¥203,174,617.80, compared to ¥574,454,323.06 in Q1 2019, showing a significant decline[38] - Cash flow from financing activities increased by 12.51% to CNY 34,791,840.77 compared to CNY 30,923,190.18 in the previous year[18] - Net cash flow from financing activities was $34,791,840.77, an increase of 56.4% compared to the previous period's $22,271,654.71[42] - Cash and cash equivalents decreased to ¥170.65 million from ¥220.98 million, a decline of approximately 22.8%[28] - The net increase in cash and cash equivalents was -$23,218,489.88, contrasting with a positive increase of $24,044,792.99 in the previous period[42] Shareholder Information - The number of shareholders reached 53,359, with the top ten shareholders holding a combined 21.20% of the total shares[9][10] Government Subsidies - The company recognized government subsidies of CNY 6,581,052.55, while other operating income and expenses resulted in a net loss of CNY -31,684,722.16[7] - The company received CNY 6,611,852.73 in non-operating income, primarily from subsidies related to employment stability[16] Cost Management - Operating costs amounted to CNY 103,775,991.91, down 73.09% from CNY 385,695,060.20 year-on-year[15] - The company's operating revenue for Q1 2020 was ¥97,940,176.50, a decrease of 72.7% compared to ¥359,247,729.74 in Q1 2019[34] - The company incurred sales expenses of ¥11,059,619.74 in Q1 2020, down from ¥13,195,934.92 in Q1 2019, indicating a reduction in marketing efforts[34] - The management expenses for Q1 2020 were ¥31,705,876.01, a decrease from ¥44,573,710.29 in Q1 2019, reflecting cost-cutting measures[34] - The company reported interest expenses of ¥2,081,495.11 in Q1 2020, down from ¥3,884,701.08 in Q1 2019, indicating a reduction in debt servicing costs[34]