Financial Performance - The company's operating revenue for Q1 2023 was ¥154,506,817.81, representing a decrease of 8.21% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥4,406,678.43, down 7.92% year-on-year[5]. - The basic and diluted earnings per share were both -¥0.0081, reflecting an 8.00% decline[5]. - The weighted average return on equity was -0.54%, an increase of 0.08 percentage points[5]. - The net loss for Q1 2023 was CNY 156,968,182.16, compared to a loss of CNY 152,561,503.73 in Q1 2022[15]. - Operating profit for Q1 2023 was -4,227,847.94 RMB, worsening from -3,499,484.27 RMB in the same period last year[17]. - The total comprehensive income for Q1 2023 was -4,406,678.43 RMB, compared to -4,083,296.89 RMB in Q1 2022, indicating a decline in overall financial performance[17]. - The net profit for Q1 2023 was CNY 1,396,132.96, a decrease of approximately 62.8% compared to CNY 3,750,567.66 in Q1 2022[25]. - The basic and diluted earnings per share for Q1 2023 were both -0.0081 RMB, compared to -0.0075 RMB in Q1 2022, reflecting a worsening in earnings per share[17]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 130.14% to ¥13,727,018.27 compared to the previous year[5]. - Cash flow from operating activities generated a net inflow of 13,727,018.27 RMB, a significant improvement from a net outflow of -45,538,519.32 RMB in Q1 2022[19]. - Total cash and cash equivalents at the end of Q1 2023 stood at 162,266,413.50 RMB, compared to 138,687,205.87 RMB at the end of Q1 2022, reflecting a year-over-year increase of approximately 17.0%[20]. - The company's cash outflow for operating activities was CNY 168,119,059.25, down from CNY 302,603,174.14 in the previous year, indicating improved cash management[26]. - The net cash flow from financing activities was -$31,216,017.55, an improvement from -$35,027,398.62 in the previous year[27]. - The net cash increase for the first quarter of 2023 was $60,498,313.10, compared to a decrease of $75,812,965.74 in the previous year[28]. - The company’s cash flow management shows a significant recovery in cash position compared to the previous year[28]. Assets and Liabilities - Total assets at the end of Q1 2023 were ¥1,557,722,940.38, a decrease of 2.87% from the end of the previous year[6]. - The company's total assets decreased to CNY 1,557,722,940.38 from CNY 1,603,732,548.49, a decline of 2.9%[15]. - The total liabilities amounted to CNY 833,590,369.00, compared to CNY 814,815,163.21 in the previous year, indicating an increase of about 2.5%[23]. - Current liabilities totaled CNY 680,572,189.72, a reduction of 5.8% from CNY 722,813,978.35 in the previous year[14]. - The equity attributable to shareholders decreased by 0.54% to ¥816,682,498.66 compared to the end of the previous year[6]. - The total equity of the company was CNY 1,091,078,250.96, slightly up from CNY 1,089,682,118.00 in the previous year, showing a marginal increase[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,912[9]. - The largest shareholder, Nanning Futian Investment Co., Ltd., holds 102,687,831 shares, accounting for 18.85% of the total shares, with a significant portion pledged[10]. Operating Costs and Expenses - Total operating costs for Q1 2023 were CNY 159,227,804.59, down 7.4% from CNY 171,866,860.58 in Q1 2022[16]. - The company incurred total operating expenses of 293,058,665.83 RMB in Q1 2023, compared to 381,236,458.08 RMB in Q1 2022, indicating a reduction of about 23.1%[19]. - The company reported a decrease in employee compensation payable to CNY 5,954,481.97 from CNY 8,787,951.07, a reduction of 32.2%[14]. - The company's financial expenses for Q1 2023 were CNY 2,783,495.75, compared to CNY 2,612,073.14 in the previous year, reflecting an increase of approximately 6.5%[25]. Government Support - The company received government subsidies amounting to ¥446,478.97 related to employment support[7].

Financial Performance - The company's net profit for 2022 was approximately -64.49 million RMB, resulting in no profit distribution or capital reserve transfer to share capital for the year [4]. - Total revenue for 2022 was 655.69 million RMB, a decrease of 18.84% compared to 807.88 million RMB in 2021 [20]. - The net asset attributable to shareholders decreased by 7.28% to 821.09 million RMB at the end of 2022 from 885.58 million RMB at the end of 2021 [20]. - The total assets decreased by 6.55% to 1.60 billion RMB at the end of 2022 from 1.72 billion RMB at the end of 2021 [20]. - Basic earnings per share for 2022 were -0.1184 RMB, a decrease of 2,566.67% compared to 0.0048 RMB in 2021 [21]. - The weighted average return on net assets was -7.56% for 2022, a decrease of 7.86 percentage points from 0.30% in 2021 [21]. - The cash flow from operating activities for 2022 was -48.74 million RMB, a decline of 215.00% compared to -15.47 million RMB in 2021 [20]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of -72.61 million RMB for 2022, compared to -20.87 million RMB in 2021, representing a decrease of 247.99% [20]. - The company reported a significant increase in credit impairment losses, primarily due to provisions for bad debts related to seafood, amounting to -25.12 million RMB [43]. - The company’s cash flow from operating activities was -48.74 million RMB, indicating a decline of 215.00% compared to the previous year [42]. Revenue Breakdown - The main business income accounted for 89.32% of total operating income, with the breakdown being 14.82% from department stores, 56.02% from home appliances, 14.88% from supermarkets, 9.95% from automotive, and 0.50% from e-commerce [36]. - The company achieved operating revenue of 655.69 million RMB, a year-on-year decrease of 18.84% [41]. - The total retail sales of consumer goods in China for 2022 were 43.9733 trillion RMB, down 0.2% from the previous year [27]. - The company reported a rental income of CNY 29.50 million in 2022, a decrease of 8.86% compared to the previous year [76]. - Online sales accounted for 4.71% of total sales, with approximately CNY 53.60 million in online sales, while offline sales were about CNY 1,084.58 million, representing 95.29% [79]. Operational Changes - The company closed the loss-making Wenhua Palace store, which contributed to a reduction in losses [28]. - The company implemented a strategy to enhance digital integration, establishing e-commerce teams across various business units [29]. - The company focused on optimizing assets by transferring the operation of the Wenhua Palace store to avoid further asset impairment [30]. - The company plans to enhance member engagement through targeted marketing campaigns, conducting 12 large-scale marketing events [29]. - The company is focusing on optimizing its department store operations by upgrading store formats and increasing rental income, aiming for a significant improvement in brand positioning and customer experience [90]. Market and Strategic Initiatives - The company is set to open 12 shopping centers in Guangxi, with 7 located in Nanning, as part of the national strategy to promote domestic consumption recovery [84]. - The company aims to enhance its digital transformation by focusing on member digitalization, product digitalization, and guide digitalization, leveraging various sales channels such as WeChat, community platforms, and live streaming [86]. - The company plans to optimize the consumption structure and environment while deepening information technology construction to enhance customer experience [86]. - The home appliance segment is expanding online sales channels, achieving breakthroughs with mini-programs and WeChat, and is also enhancing third-party operations to boost sales [90]. - The supermarket segment is maintaining a positive trend in single-store profitability and is developing a supply chain for pork and beef, while exploring community fresh food stores [91]. Governance and Compliance - The company received a standard unqualified audit report from Sichuan Huaxin (Group) CPA for the fiscal year [7]. - The company has established a comprehensive information disclosure system, adhering to the Shanghai Stock Exchange's rules and ensuring timely and accurate disclosures [101]. - The company has appointed independent directors to strengthen governance and oversight within the board [104]. - The company has actively engaged with investors through various communication channels to enhance understanding and recognition among stakeholders [100]. - The company has implemented measures to prevent insider trading and ensure confidentiality of sensitive information [101]. Legal and Regulatory Matters - The company faced significant litigation issues, including a contract dispute with Nanning Yizilian Rice Industry Co., Ltd., which has progressed to the execution phase [157]. - The company is involved in multiple ongoing lawsuits, including a case against Nanning Biaotebu Real Estate Development Co., Ltd. regarding a housing sale contract dispute [158]. - The company has received a first-instance judgment in the construction contract dispute with Nanning Biaotebu Real Estate Development Co., Ltd., with some claims supported by the court [159]. - The company is currently appealing a judgment related to a seafood sales contract dispute with Zhanjiang Xujun Aquatic Products Co., Ltd. [159]. Social Responsibility and Community Engagement - The company has invested CNY 17 million in rural revitalization projects, including infrastructure improvements and agricultural development [149]. - The company has actively engaged in community support, providing CNY 5.51 million for charitable donations, including CNY 2.67 million in cash and CNY 2.84 million in material donations [143]. - The company has organized various public welfare activities, including educational support for underprivileged students, with nine students receiving financial assistance [151]. - Total investment in social responsibility projects amounted to CNY 30.51 million, benefiting 112 individuals through various initiatives [147]. Future Outlook - In 2023, the company plans to actively seize opportunities to boost market consumption, focusing on core business development and implementing market-oriented reforms to achieve significant recovery growth in main business and overall revenue [89]. - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming for $1.875 billion [106]. - New product launches are expected to contribute an additional $300 million in revenue, with a focus on innovative technology solutions [106]. - The company aims to improve operational efficiency, targeting a 5% reduction in costs over the next year [106].

Financial Performance - The company's operating revenue for Q3 2022 was ¥173,263,140.99, a decrease of 11.77% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥1,579,650.81, representing a decline of 41.60% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥18,214,048.50, a decrease of 434.27% compared to the previous year[6]. - The basic and diluted earnings per share were both -¥0.0029, a decrease of 40.82% year-on-year[6]. - The company reported an operating loss of CNY 15,636,623.57 for the first three quarters of 2022, compared to a loss of CNY 5,531,568.57 in the same period of 2021[17]. - The net profit for Q3 2022 was -15,654,517.94 RMB, compared to -7,594,171.28 RMB in Q3 2021, indicating a decline of approximately 106.5% year-over-year[18]. - The net profit for the third quarter of 2022 was a loss of CNY 821,905.04, compared to a profit of CNY 14,741,161.66 in the same quarter of 2021, indicating a significant decline[26]. - The company's basic and diluted earnings per share for the third quarter of 2022 were both CNY -0.0015, compared to CNY 0.0271 in the same quarter of 2021, showing a negative shift in profitability[26]. Revenue and Costs - Total operating revenue for the first three quarters of 2022 was CNY 508,121,935.75, a decrease of 15.3% compared to CNY 600,117,683.26 in the same period of 2021[17]. - Total operating costs for the first three quarters of 2022 were CNY 544,055,187.07, down from CNY 607,358,330.86 in 2021, reflecting a reduction of 10.4%[17]. - The company's total revenue for the first three quarters of 2022 was CNY 380,552,817.72, a decrease of 14.25% compared to CNY 443,819,468.70 in the same period of 2021[25]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,666,355,748.09, down 2.90% from the end of the previous year[6]. - The total assets as of September 30, 2022, amounted to CNY 1,666,355,748.09, a decrease from CNY 1,716,129,582.51 at the end of 2021[14]. - Current assets totaled CNY 430,665,474.27 as of September 30, 2022, down from CNY 451,115,687.83 at the end of 2021, indicating a decline of 4.6%[13]. - The total liabilities as of September 30, 2022, were CNY 796,427,956.42, down from CNY 830,547,272.90 at the end of 2021[14]. - The company's total liabilities decreased to CNY 798,948,313.65 from CNY 825,306,407.47 in the previous quarter, reflecting a reduction in financial obligations[24]. Cash Flow - The company reported a net cash flow from operating activities of -¥8,756,191.37 for the year-to-date period[6]. - Cash inflow from operating activities for the first three quarters of 2022 was 976,549,997.16 RMB, down 18.0% from 1,192,679,428.29 RMB in the same period of 2021[19]. - The net cash flow from operating activities for Q3 2022 was -8,756,191.37 RMB, an improvement from -11,299,973.53 RMB in Q3 2021[20]. - Cash flow from operating activities for the first three quarters of 2022 was CNY 781,396,300.33, down from CNY 964,783,715.84 in the same period of 2021, indicating a decline in cash generation[27]. Inventory and Receivables - The company experienced a significant increase in accounts receivable, up 81.29% year-to-date, primarily due to increased receivables from sales and service[9]. - Inventory increased to CNY 111,828,204.15 as of September 30, 2022, compared to CNY 99,794,714.17 at the end of 2021, reflecting a growth of 12%[12]. - The company’s inventory increased to 89,442,831.29 RMB as of September 30, 2022, compared to 77,959,716.48 RMB at the end of 2021, indicating a rise of approximately 14.5%[22]. Shareholder Information - The top ten shareholders held a total of 18.85% and 18.27% of shares, with significant pledges and freezes on some shares[11].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 334.86 million, a decrease of 17.06% compared to CNY 403.75 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 14.07 million, representing a decline of 187.86% from a loss of CNY 4.89 million in the previous year[18]. - The net cash flow from operating activities was a negative CNY 8.54 million, a significant decrease of 495.28% compared to a negative CNY 1.43 million in the same period last year[18]. - The total assets at the end of the reporting period were CNY 1.63 billion, down 4.74% from CNY 1.72 billion at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 1.59% to CNY 871.51 million from CNY 885.58 million at the end of the previous year[18]. - The basic earnings per share for the first half of 2022 was -CNY 0.0258, a decrease of 186.67% compared to -CNY 0.0090 in the same period last year[18]. - The weighted average return on net assets was -1.60%, a decrease of 1.05 percentage points from -0.55% in the previous year[18]. - The company's total operating revenue for the first half of 2022 was 334.86 million yuan, a decrease of 17.06% year-on-year[31]. - The net profit attributable to shareholders was -14.07 million yuan, a year-on-year decrease of 187.86%[31]. - The company's operating revenue decreased by 17.06% to CNY 334,858,794.76 compared to CNY 403,746,614.00 in the same period last year[35]. - Operating costs also fell by 17.54% to CNY 243,290,348.36 from CNY 295,044,211.77, reflecting the decline in revenue[35]. - The company's net loss for the first half of 2022 was CNY 15,735,574.25, compared to a net loss of CNY 3,791,100.04 in the first half of 2021[88]. - The total comprehensive income for the first half of 2022 was a loss of CNY 14,074,867.13, compared to a profit of CNY 12,363,513.41 in the first half of 2021[91]. Operational Highlights - The main business revenue accounted for 88.66% of total operating revenue, with the breakdown being 16.07% for department stores, 55.72% for home appliances, 15.28% for supermarkets, 8.87% for automobiles, and 0.53% for e-commerce[23]. - The company introduced 23 new brands in the department store sector and transitioned four major jewelry brands from joint venture to leasing[32]. - The company organized four large-scale member marketing activities in the first half of the year, effectively enhancing member consumption[32]. - The overall retail sales of consumer goods in Guangxi increased by 0.1% year-on-year in the first half of 2022[25]. - The company aims to enhance operational quality through a "refined management" strategy, focusing on customer-centric operations and improving service quality[34]. - The company plans to accelerate the digital transformation process and optimize its layout structure in the second half of the year[33]. - The online retail sales of physical goods in China grew by 5.6% year-on-year, accounting for 25.9% of total social retail sales[24]. - The company is exploring the development of the "new energy" automobile market in response to the growing trend of electric vehicles[33]. Financial Position - The company's cash and cash equivalents decreased by 11.29% to CNY 222,822,927.76 from CNY 251,182,974.34 at the end of the previous year[38]. - Accounts receivable increased by 110.79% to CNY 14,364,381.73 from CNY 6,814,454.03, indicating a rise in credit sales[39]. - The total liabilities decreased by 4.28% to CNY 230,000,000.00 in short-term borrowings from CNY 240,283,013.70[39]. - The company reported a significant increase in other income by 99.18% to CNY 1,917,120.05, primarily due to tax refunds[36]. - The company experienced a 405.03% increase in operating loss, amounting to CNY -14,337,406.15 compared to CNY -2,838,904.79 last year[36]. - The decline in revenue and profit was primarily attributed to reduced customer traffic due to the recurring COVID-19 pandemic[36]. - The total assets of the company's subsidiaries amount to approximately ¥363.27 million, with total revenue of ¥105.03 million and a net loss of ¥10.21 million for the reporting period[44]. - The subsidiary Nanning Jinhu Times Investment Co., Ltd. reported total assets of ¥234.28 million and a net loss of ¥1.81 million[44]. - Guangxi Nanbai Supermarket Co., Ltd. generated revenue of ¥51.16 million but incurred a net loss of ¥5.54 million, with net assets reported at -¥126.62 million[44]. Risks and Challenges - The company faces macroeconomic risks due to reliance on consumer confidence and economic growth, which may be impacted by ongoing pandemic effects[45]. - Industry competition poses a risk, with changing consumer habits and the rise of online retail affecting market share and profitability[45]. - The company is undergoing a transformation to address competitive pressures, which has led to declining sales and increased losses in some stores[46]. - There are ongoing litigation matters with significant amounts at stake, which could adversely affect the company's financial position[46]. - The company has not proposed any profit distribution or capital reserve increase for the reporting period[51]. Community and Environmental Initiatives - A total of 240,000 yuan was allocated for targeted poverty alleviation and rural revitalization efforts, including material donations and support for local infrastructure[55]. - The company has been actively involved in community support activities, including the "Winter Sunshine" initiative, providing essential goods and aid to local villages[55]. - The company has established waste classification systems to promote waste reduction and resource management[54]. - The company implemented energy-saving measures during the summer, enhancing employee awareness to reduce energy waste[54]. - The company has committed to using clean energy sources in its cafeteria operations to reduce emissions[54]. - The company has installed oil fume purifiers in its dining facilities to lower kitchen emissions[54]. - The company is focused on enhancing its environmental responsibility through various initiatives aimed at pollution prevention and ecological protection[54]. Legal and Compliance Matters - The company has faced significant litigation, including a contract dispute with Nanning Yizilian Rice Industry Co., Ltd., which is currently in the enforcement stage[59]. - The company is involved in multiple ongoing legal cases, including disputes with real estate developers, with some cases still awaiting judgment[61]. - The company has not reported any significant environmental issues or penalties related to environmental protection[53]. - The company has not reported any non-compliance issues or penalties related to its operations[62]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 40,835[73]. - The company has not reported any significant changes in its share capital structure during the reporting period[72]. - The top shareholder, Nanning Futian Investment Co., Ltd., holds 102,687,831 shares, accounting for 18.85% of total shares[74]. - Nanning Peining Asset Management Co., Ltd. is the second-largest shareholder with 99,491,492 shares, representing 18.27%[74]. - The company has a total of 5,350,349 shares under limited sale conditions held by Nanning Urban Construction Investment Group Co., Ltd.[75]. - There are no changes in the controlling shareholder or actual controller during the reporting period[76]. Accounting Policies and Practices - The company has maintained its accounting policies in accordance with the relevant accounting standards, ensuring the financial statements reflect true and complete information[117]. - The company has not identified any factors affecting its ability to continue as a going concern for the next 12 months[115]. - The company operates primarily in wholesale and retail of department store goods, with a diverse range of business activities including import and export[111]. - The financial report was approved by the board of directors on August 24, 2022, ensuring timely disclosure of financial performance[112]. - The company has a total of 10 subsidiaries included in the consolidated financial statements, indicating a broad operational footprint[113]. - The company's accounting period runs from January 1 to December 31 each year[118]. - The company uses a 12-month operating cycle for liquidity classification of assets and liabilities[119]. - The company's functional currency is Renminbi (RMB)[120].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 168,334,622.40, representing a decrease of 14.33% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of CNY 4,083,296.89, a decline of 496.61% year-on-year[5]. - The basic and diluted earnings per share were both CNY -0.0075, a drop of 494.74% year-on-year[5]. - The net profit for Q1 2022 was a loss of ¥4,083,296.89, compared to a profit of ¥1,029,541.06 in Q1 2021[18]. - Earnings per share for Q1 2022 was -¥0.0075, compared to ¥0.0019 in Q1 2021[19]. - The net profit for Q1 2022 was ¥3,750,567.66, down 60.9% from ¥9,604,308.37 in Q1 2021[28]. - The operating profit for Q1 2022 was ¥4,363,404.40, a decline of 61.3% from ¥11,293,813.96 in Q1 2021[26]. Cash Flow - The net cash flow from operating activities was negative CNY 45,538,519.32, down 57.07% from the previous year[5]. - The net cash flow from operating activities for Q1 2022 was -¥40,754,417.11, slightly improved from -¥41,273,445.85 in Q1 2021[29]. - Cash received from sales of goods and services in Q1 2022 was ¥334,949,934.78, a decrease of 20.0% from ¥418,453,235.54 in Q1 2021[20]. - The net cash flow from financing activities for Q1 2022 was -¥35,027,398.62, contrasting with a positive net flow of ¥17,621,269.69 in Q1 2021[30]. - Cash inflow from financing activities was 99,302,758.26 RMB, down from 170,760,643.38 RMB, indicating a decrease of approximately 41.73%[21]. - Cash outflow from financing activities was 137,240,769.14 RMB, compared to 153,139,373.69 RMB in the previous quarter, a decrease of about 10.36%[21]. Assets and Liabilities - Total assets at the end of Q1 2022 were CNY 1,607,100,174.76, a decrease of 6.35% from the end of the previous year[6]. - Total assets as of Q1 2022 were ¥1,607,100,174.76, down from ¥1,716,129,582.51 at the end of Q1 2021[14]. - Total liabilities for Q1 2022 were ¥725,601,162.04, a decrease of 12.6% from ¥830,547,272.90 in Q1 2021[14]. - The company's total liabilities decreased from 825,306,407.47 RMB to 726,570,353.51 RMB, representing a decrease of approximately 11.97%[24]. - The company's total equity as of Q1 2022 was ¥881,499,012.72, slightly down from ¥885,582,309.61 in Q1 2021[14]. - The total equity increased slightly from 1,128,609,313.57 RMB to 1,132,359,881.23 RMB, showing a marginal growth of about 0.25%[25]. Investment and Expenses - Investment income fell by 83.30% primarily due to a decrease in net profit from an associated company[7]. - The company reported an investment income of ¥13,149.52 in Q1 2022, compared to ¥78,729.39 in Q1 2021[18]. - The total operating expenses for Q1 2022 were ¥112,699,019.35, compared to ¥117,517,250.48 in Q1 2021, indicating a reduction of 4.1%[26]. - The company incurred research and development expenses, although specific figures were not provided in the report[26]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,500[9].

Financial Performance - The company achieved a net profit of approximately CNY 2.64 million in 2021, a significant recovery from a net loss of CNY 130.25 million in 2020, marking a 102.03% increase year-over-year[19]. - Operating revenue for 2021 was CNY 807.88 million, reflecting a 3.65% increase compared to CNY 779.40 million in 2020[19]. - The company's net cash flow from operating activities was negative CNY 15.47 million, a decline of 186.30% from a positive cash flow of CNY 17.93 million in 2020[19]. - The total assets decreased by 4.88% to CNY 1.72 billion at the end of 2021, down from CNY 1.80 billion at the end of 2020[19]. - The company's net assets attributable to shareholders were CNY 885.58 million, a slight decrease of 0.86% from CNY 893.24 million in 2020[19]. - Basic earnings per share improved to CNY 0.0048 in 2021 from a loss of CNY 0.2391 in 2020, representing a 102.01% increase[20]. - The weighted average return on equity increased to 0.30% in 2021, up from -13.58% in 2020, an improvement of 13.88 percentage points[20]. - The total profit reached 8.49 million RMB, with a significant increase of 105.77% compared to the previous year[39]. - Net profit attributable to shareholders was 2.64 million RMB, marking a year-on-year growth of 102.03%[39]. Revenue and Sales - The main business revenue accounted for 89.39% of total operating income, with the appliance sector contributing 54.38%[33]. - The company reported a total of CNY 23.51 million in non-recurring gains and losses for 2021, compared to a loss of CNY 11.78 million in 2020[23]. - In Q1 2021, the company's operating revenue was approximately CNY 196.49 million, while in Q2 it increased to CNY 207.25 million, showing a growth of about 5.4%[22]. - The net profit attributable to shareholders in Q4 2021 was CNY 10.23 million, a significant recovery from a net loss of CNY 5.92 million in Q2[22]. - The retail sales of social consumer goods in China reached CNY 44.08 trillion in 2021, marking a year-on-year growth of 12.5%[25]. - The online retail sales in China reached CNY 13.09 trillion in 2021, with a year-on-year growth of 14.1%[29]. - The company's total revenue for the year 2021 was approximately 1.34 billion, with a year-on-year increase of 24.41% in the department store segment[47]. - The supermarket segment experienced a revenue decrease of 19.75%, primarily due to the closure of the Wuming store and the impact of community group buying[48]. - The automotive segment's revenue increased by 11.16%, reflecting a recovery from the previous year's pandemic impact[47]. - E-commerce revenue saw a slight decline of 0.48%, attributed to operational adjustments and the closure of a cross-border experience store[48]. Operational Efficiency - The company has outlined potential risks in its future development, which are detailed in the management discussion section of the report[6]. - The company aims to enhance digital operations and has implemented various online marketing strategies to attract new customers[27]. - The company operates multiple business formats, including department stores, supermarkets, and e-commerce, enhancing regional market influence[36]. - The company has established procurement teams across various sectors, including department stores and e-commerce, to manage inventory and supplier relationships effectively[72]. - The company implemented a policy to manage slow-moving and expired goods, including options for returns, exchanges, and markdown sales[72]. - The company has a strong brand presence as a "Chinese Time-honored Brand" with over 60 years of integrity in business[35]. - The company has expanded its store network, with new openings and adjustments in various regions, including the addition of the Jianzheng store in August 2021[63]. - The company conducted 12 major marketing events in 2021, contributing approximately 34% to total sales[27]. Governance and Compliance - The company held 3 shareholder meetings during the reporting period, ensuring fair voting procedures for all shareholders, especially minority shareholders[95]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal requirements with independent operations[95]. - The supervisory board held 7 meetings, fulfilling its supervisory duties over financial and managerial compliance[96]. - The company has established a complete independent financial management system, with no interference from the controlling shareholder in financial decisions[99]. - The company has revised its governance documents to enhance operational standards, including the Articles of Association and meeting rules[98]. - The company has a dedicated investor relations program, facilitating communication through various channels to enhance investor understanding[96]. - The company has implemented strict insider information management to prevent insider trading[97]. - The company has completed a self-inspection of its governance practices, addressing deficiencies identified in previous years[98]. Legal and Risk Management - The company is involved in several commercial litigation cases that could have significant adverse effects on its operations[92]. - The company is facing macroeconomic risks that could impact consumer spending and overall market demand due to potential economic slowdowns[91]. - The company acknowledges industry competition risks, including the impact of online retail and changing consumer habits on physical retail performance[92]. - The company is committed to addressing asset impairment risks, particularly in stores affected by reduced foot traffic due to the pandemic[92]. - The company has reported a significant increase in user data, with a year-over-year growth of 25% in active users[109]. - The company has ongoing litigation with Nanning Biaote Real Estate Development Co., Ltd. regarding a housing sales contract, with the case still pending a decision[155]. - The company has filed a counterclaim against Nanning Biaote Real Estate Development Co., Ltd. in a related lawsuit[155]. - The company is appealing a first-instance judgment from Nanning Intermediate People's Court regarding a construction project dispute[156]. Future Outlook and Strategy - The company plans to accelerate its digitalization process, emphasizing member data management and integrated online-offline operations to improve operational efficiency[85]. - The company has set a strategic goal to become a competitive regional retail leader, focusing on brand strength and innovation in the retail sector[86]. - The company aims to achieve a revenue target of 60,000 million by the end of 2022, representing a 29.9% increase year-over-year[105]. - The company plans to invest in new product lines and technologies to drive future growth and innovation[105]. - Market expansion strategies include potential mergers and acquisitions to enhance competitive positioning[105]. - The management emphasized the importance of strategic partnerships to leverage market opportunities and enhance operational efficiency[105]. - The company is exploring new strategies to improve customer retention and satisfaction, aiming for a 17.59% increase in user loyalty metrics[105]. - Ongoing research and development efforts are expected to yield new products that align with market demands and consumer preferences[105]. Employee and Community Engagement - The company has implemented a cash dividend policy, stipulating that 10% of the distributable profits attributable to shareholders will be distributed as dividends annually[128]. - The company has conducted training programs focusing on enhancing management skills and improving the overall capabilities of employees[126]. - The company has actively engaged in poverty alleviation efforts, including financial support of CNY 160,000 to assist impoverished villages[145]. - The company has organized various employee welfare activities, including medical assistance and skill competitions, to enhance employee satisfaction[144]. - The company has implemented measures for wastewater management, ensuring all wastewater is collected and treated in accordance with municipal standards[137]. - The company has focused on environmental protection by using clean energy in its employee canteen and rental dining units[140]. - The company has developed a waste classification management system to promote resource management and reduce waste[140]. Shareholder Information - The total number of shares is 544,655,360, with 6,099,149 shares under limited sale conditions, accounting for 1.12% of total shares[168]. - The number of unrestricted circulating shares is 538,556,211, representing 98.88% of total shares[168]. - The largest shareholder, Nanning Futian Investment Co., Ltd., holds 102,687,831 shares, which is 18.85% of total shares[172]. - Nanning Peining Asset Management Co., Ltd. holds 99,491,492 shares, accounting for 18.27% of total shares[172]. - The total number of limited sale shares decreased by 184,320 shares during the reporting period[168]. - The number of shares held by the top ten unrestricted shareholders totals 244,000,000 shares[173]. - The company has seen a significant increase in the number of unrestricted shares by 184,320 during the reporting period[168]. - The report indicates that there are no new securities issued during the reporting period[170].

Financial Performance - The company's operating revenue for 2017 was CNY 2,252,422,120.89, representing a 2.17% increase compared to CNY 2,204,495,649.90 in 2016[19] - The net profit attributable to shareholders of the listed company was CNY 1,770,811.55, a significant recovery from a loss of CNY 34,276,407.26 in the previous year, marking a 105.17% increase[19] - The basic earnings per share for 2017 was CNY 0.0033, a turnaround from a loss of CNY 0.06 per share in 2016, reflecting a 105.50% improvement[21] - The total profit for the year was CNY 8.15 million, reflecting a substantial increase of 125.76% compared to the previous year[34] - The company achieved a total revenue of CNY 2.25 billion for the year, representing a year-on-year growth of 2.17%[34] Assets and Liabilities - The total assets at the end of 2017 were CNY 2,237,802,076.34, a slight decrease of 0.21% from CNY 2,242,623,263.48 at the end of 2016[20] - The company's net assets attributable to shareholders at the end of 2017 were CNY 1,063,623,031.14, a slight increase of 0.17% from CNY 1,061,852,219.59 at the end of 2016[20] - The company's total equity reached CNY 1,234,716,605.95, up from CNY 1,203,212,495.05, representing an increase of approximately 2.96%[164] - The total liabilities remained stable at CNY 1,101,479,986.36 compared to CNY 1,064,196,015.63, showing a slight increase of about 3.5%[164] Cash Flow - The net cash flow from operating activities was negative at CNY -163,603,705.44, a decline of 205.16% compared to CNY 155,578,009.32 in 2016[19] - The net cash flow from operating activities improved significantly in Q4, reaching CNY 109,100,421.62, compared to negative cash flows in the earlier quarters[23] - Total cash inflow from operating activities was 2,823,094,591.43 RMB, while cash outflow was 2,986,698,296.87 RMB, resulting in a net cash flow deficit[174] Revenue Sources - The company’s main business revenue accounted for 96.18% of total revenue, with the department store segment contributing 49.60%[27] - The company reported a revenue of approximately 1.21 billion yuan from the joint operation model in 2017, with a gross margin of 14.18%, compared to 1.29 billion yuan and a gross margin of 12.30% in 2016[57] - The self-operated model generated revenue of approximately 952.55 million yuan in 2017, with a gross margin of 9.47%, up from 840.10 million yuan and a gross margin of 11.51% in 2016[57] Cost Management - The company reported a decrease in selling expenses by 14.36% to CNY 95.73 million, indicating improved cost management[37] - The cost of goods sold was CNY 1,903,898,288.04, resulting in a gross profit margin of 1.74% compared to the previous year's 1.59%[40] Market and Industry Trends - The retail industry showed signs of recovery, with a 10.2% increase in total retail sales in China for 2017[52] - The retail sector is experiencing a shift towards multi-channel operations, focusing on quality and innovative retail strategies[68] - The company is positioned to benefit from the rapid economic growth in the Guangxi region, enhancing its market expansion potential[31] Strategic Initiatives - The company implemented a transformation strategy focusing on upgrading its retail formats and enhancing its marketing efforts through "Internet+" applications[33] - The company plans to implement a "smart retail" initiative under the "Internet+" strategy to create new growth drivers[70] - The company is focusing on integrating online and offline operations, with significant investments from large internet companies into physical retail[53] Risk Management - The company has disclosed potential risks in its future development, which are detailed in the report[7] - The company faces risks from macroeconomic fluctuations, intensified market competition, and management challenges that could impact overall performance[71] Corporate Governance - The company has maintained a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[134] - The company has established a mechanism for selecting and incentivizing management based on performance, aligning with modern enterprise systems[112] Social Responsibility - In 2017, the company supported three designated poverty alleviation villages, improving infrastructure and living conditions, contributing to poverty alleviation efforts[95] - The company raised a total of RMB 36,798.3 in donations during the "Poverty Alleviation Day" activities, aimed at improving living conditions and educational support for impoverished families[96] - The company has committed to continuing its support for poverty alleviation efforts, focusing on targeted assistance to households and encouraging employee participation[101] Shareholder Information - The largest shareholder, Nanning Peining Asset Management Co., Ltd., holds 99,361,645 shares, accounting for 18.24% of the total shares[107] - The total shares held by the top ten shareholders account for a significant portion of the company's equity, with the first three shareholders alone holding over 37%[107] Audit and Compliance - The audit report confirms that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2017[144] - The company has retained Sichuan Huaxin (Group) Accounting Firm for the audit of the 2017 financial report, with an audit fee of CNY 31,000[88] Employee Management - The total number of employees in the parent company was 794, while the total number of employees in major subsidiaries was 393, resulting in a combined total of 1,187 employees[128] - The company has implemented a salary management system approved by the employee representative assembly, which determines remuneration based on company performance[129]

Financial Performance - The company's operating revenue for 2016 was CNY 2,204,495,649.90, a decrease of 6.85% compared to CNY 2,366,555,589.38 in 2015[20] - The net profit attributable to shareholders for 2016 was a loss of CNY 34,276,407.26, representing a decline of 223.84% from a profit of CNY 27,678,544.08 in 2015[20] - The total profit amounted to -CNY 31.66 million, a decline of 206.73% compared to the previous year[35] - The basic earnings per share for 2016 was -CNY 0.06, a decrease of 220.00% from CNY 0.05 in 2015[21] - The weighted average return on equity for 2016 was -3.16%, a decrease of 5.69 percentage points from 2.53% in 2015[22] - The company reported a significant increase in deferred expenses, rising by 1,627.82% to ¥340,775,296.66 from ¥19,722,841.87, attributed to prepaid rent and the transfer of construction project costs[49] - The company reported a total comprehensive income for the year of CNY 9,706,005.76, a significant drop from CNY 67,583,133.35 in the previous year, reflecting a decline of approximately 85.6%[158] Cash Flow and Investments - The cash flow from operating activities increased by 70.92% to CNY 155,578,009.32 in 2016, compared to CNY 91,024,890.39 in 2015[20] - The net cash flow from operating activities improved to ¥155,578,009.32, a 70.92% increase from the previous year, mainly due to reduced cash payments for goods and services[47] - The net cash flow from investing activities was ¥29,612,164.03, a significant turnaround from a negative cash flow of -¥86,447,822.23 in the previous year, due to decreased capital expenditures[47] - The company reported a net cash flow from financing activities of -¥146,686,355.33, a drastic decline of 1,137.13% year-on-year, mainly due to increased loan repayments and guarantee payments[47] Assets and Liabilities - The total assets at the end of 2016 were CNY 2,242,623,263.48, an increase of 1.17% from CNY 2,216,649,089.54 at the end of 2015[20] - Total liabilities increased to ¥1,180,771,043.89 from ¥1,111,805,976.93, reflecting a growth of about 6.2%[147] - Total equity attributable to shareholders decreased to ¥1,061,852,219.59 from ¥1,104,843,112.61, a decline of approximately 3.9%[148] - The company reported a significant net asset deficit of ¥64,648,275.55 across its subsidiaries, indicating financial challenges[66] Market and Business Operations - The retail business accounted for 96.59% of total operating income, with department stores contributing 49.47% and home appliances 33.93%[27] - E-commerce sales experienced a significant growth of 100% year-on-year, marking a breakthrough for the company[33] - The company is exploring a new light-asset franchise model to enhance its network development and management[34] - The company is located in Nanning, a key city in the Guangxi region, benefiting from regional economic growth and development[31] - The overall sales continued to decline due to external factors such as the impact of construction on the Nanning subway affecting customer traffic[40] Corporate Governance and Shareholder Information - The company has established a cash dividend policy, committing to distribute at least 10% of distributable profits to shareholders annually[75] - The total number of ordinary shareholders increased from 30,423 to 32,159 during the reporting period[106] - The top shareholder, Nanning Peining Asset Management Co., Ltd., held 99,361,645 shares, representing 18.24% of the total shares[108] - The company has a total of 544,655,360 ordinary shares outstanding[102] - The company has no major litigation or arbitration matters during the reporting period[89] Social Responsibility and Community Engagement - The company provided financial support totaling ¥123,380 for infrastructure development in designated poverty alleviation villages[93] - A total of ¥143,300 was allocated for poverty alleviation efforts, helping 440 registered impoverished individuals to escape poverty[95] - The company was recognized as an "Advanced Work Unit in Poverty Alleviation" by the Wuming District Poverty Alleviation Leadership Group[95] - The company has actively engaged in community support, distributing over ¥20,000 in relief supplies and funds to impoverished villages[93] Future Outlook and Strategic Plans - The company anticipates that the retail industry will continue to operate at a low level in 2017 due to ongoing economic adjustments, but consumption will increasingly drive economic growth[68] - The company plans to focus on "stabilizing the main business, strengthening the brand, and innovating operations" as part of its "13th Five-Year" development plan[70] - The company aims to transition towards a "micro-marketing" system and "Internet + retail" smart shopping model, targeting regional leadership in the commercial sector[70] - The company will implement reforms and upgrades in 2017, focusing on technology-driven business innovation to ensure stable operations[71] Risks and Challenges - The company has outlined potential risks in its future development, which are detailed in the report[6] - The company faces risks from macroeconomic fluctuations, which could impact consumer confidence and retail performance[72] - The company is also challenged by intensified competition from both traditional retail and e-commerce sectors, which may affect market share and profitability[72]

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]