Financial Performance - The company's operating revenue for Q1 2023 reached ¥12,682,473,811.08, representing a year-on-year increase of 20.44%[3] - Net profit attributable to shareholders was ¥4,819,017,582.42, reflecting a growth of 29.89% compared to the same period last year[3] - The basic earnings per share (EPS) for the period was ¥3.95, an increase of 29.93% year-on-year[3] - Operating profit for Q1 2023 was CNY 6.45 billion, up 29.5% from CNY 4.98 billion in Q1 2022[15] - Net profit for Q1 2023 amounted to CNY 4.83 billion, representing a 29.7% increase compared to CNY 3.73 billion in Q1 2022[15] - The company reported a total comprehensive income of CNY 4.83 billion for Q1 2023, compared to CNY 3.73 billion in Q1 2022, reflecting a 29.5% increase[15] - Basic and diluted earnings per share for Q1 2023 were both CNY 3.95, up from CNY 3.04 in Q1 2022[15] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥40,313,642,645.59, up 9.89% from the previous year[4] - Current assets totaled CNY 31.97 billion, up from CNY 29.20 billion, indicating a growth of about 9.5% year-over-year[11] - Total liabilities decreased to CNY 13.73 billion from CNY 14.94 billion, a decline of approximately 8.1%[13] - The company's equity attributable to shareholders increased to CNY 26.14 billion from CNY 21.32 billion, marking a growth of about 22.5%[13] - The company’s total non-current assets increased to CNY 8.35 billion from CNY 7.48 billion, reflecting a growth of approximately 11.6%[12] Cash Flow - The net cash flow from operating activities was ¥3,433,089,676.54, showing a slight decrease of 2.98% year-on-year[3] - Cash flow from operating activities for Q1 2023 was CNY 3.43 billion, slightly down from CNY 3.54 billion in Q1 2022[16] - The cash flow from investment activities amounted to -$10.44 billion, compared to -$8.38 billion in the previous year, indicating a decline of approximately 24.7%[17] - The net increase in cash and cash equivalents was -$7.00 billion, compared to -$4.84 billion in the previous year, reflecting a worsening of approximately 44.6%[17] - The cash flow from investment activities saw an increase in outflows to $10.95 billion from $9.71 billion year-over-year, marking an increase of about 12.8%[17] Sales and Distribution - The number of distributors at the end of the reporting period was 3,647, with an increase of 10 new distributors during the period[9] - Sales revenue from high-end liquor categories was ¥949,586,600, contributing significantly to overall revenue[9] - Revenue from online sales platforms totaled ¥49,196,760, indicating the company's growing e-commerce presence[9] Expenses - Research and development expenses increased significantly to CNY 18.40 million, up from CNY 7.48 million in the same period last year, marking a 146.5% rise[14] - Sales expenses decreased to CNY 1.01 billion, down 14.1% from CNY 1.17 billion in Q1 2022[14] - Total operating costs for Q1 2023 were CNY 6.21 billion, an increase of 12.1% from CNY 5.54 billion in Q1 2022[14] Strategic Insights - The board of directors announced the financial results on April 28, 2023, highlighting the need for strategic adjustments moving forward[17] - The company did not apply new accounting standards or interpretations for the current year[17] - The company's financial report reflects a challenging investment environment with increased cash outflows[17]

Financial Performance - In 2022, the company's operating income reached ¥26,213,860,718.30, representing a 31.26% increase compared to ¥19,970,986,258.92 in 2021[18]. - The net profit attributable to shareholders was ¥8,095,851,303.70, a 52.36% increase from ¥5,313,612,016.46 in the previous year[18]. - The net cash flow from operating activities was ¥10,310,203,977.44, up 34.86% from ¥7,645,105,077.97 in 2021[18]. - The total assets at the end of 2022 were ¥36,686,474,274.73, a 22.47% increase from ¥29,954,563,963.65 at the end of 2021[18]. - The company's net assets attributable to shareholders increased by 40.06% to ¥21,320,842,517.33 from ¥15,222,725,794.60 in 2021[18]. - Basic earnings per share for 2022 were ¥6.6492, reflecting a 51.99% increase from ¥4.3749 in 2021[19]. - The weighted average return on equity was 44.74%, an increase of 2.7 percentage points from 42.04% in the previous year[19]. - The company achieved a total operating revenue of 26.214 billion RMB in 2022, representing a year-on-year growth of 31.26%[24]. - The net profit attributable to shareholders of the listed company reached 8.096 billion RMB, an increase of 52.36% compared to the previous year[24]. - The company reported a significant increase in investment income, which rose by 357.37% to ¥330.03 million from ¥72.16 million in the previous year[29]. Market Expansion and Strategy - The company expanded its market presence, achieving over 50% growth in the southern market and a 60% increase in sales of the Qinghua Fenjiu series[24]. - The company is focusing on expanding its market presence in the East China, South China, and major base markets through a comprehensive resource allocation strategy[71]. - The company plans to enhance the market share of the Qinghua Fenjiu series, targeting significant breakthroughs in product levels and scales[71]. - The company is committed to achieving high-quality growth and aims to solidify its position among the top players in the Chinese liquor industry[69]. - The company is actively engaging in strategic planning to enhance operational efficiency and market competitiveness, although specific strategies were not disclosed in the reports[79][81]. Research and Development - Research and development expenses surged by 152.23% to ¥57.99 million, up from ¥22.99 million in the previous year, indicating a strong focus on innovation[29]. - The company has been recognized with the "2022 Major Scientific and Technological Achievements in Chinese Liquor" award, highlighting its commitment to technological innovation[27]. - The company is investing in new technology development, allocating $10 million for R&D in innovative product lines[83]. - The total R&D expenditure was 57,998,937.41, accounting for 0.22% of operating revenue[41]. Corporate Governance and Management - The company has conducted 3 shareholder meetings and 12 board meetings, ensuring compliance with governance regulations[75]. - The company has established a robust investor communication platform to enhance transparency and engagement with stakeholders[75]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to CNY 1,354.18 million, with the highest individual remuneration being CNY 104.51 million for the deputy general manager[79][80]. - The company’s board includes independent directors who collectively received CNY 30 million in remuneration, indicating a commitment to governance and oversight[79]. Social Responsibility and Environmental Initiatives - The company actively engaged in social responsibility initiatives, contributing ¥5.096 million to rural revitalization efforts and donating ¥10 million to the local Red Cross[27]. - The company has established an environmental protection mechanism and invested 4,100,000 RMB in environmental protection during the reporting period[115]. - The company treated over 3.2 million tons of wastewater in 2022, providing more than 2.9 million tons of reclaimed water for environmental greening and public sanitation[120]. - The company has implemented a comprehensive environmental monitoring system, including the installation of online monitoring devices for COD, ammonia nitrogen, total phosphorus, and total nitrogen, all of which passed environmental department inspections[121]. Financial Health and Liquidity - The company's cash and cash equivalents increased to ¥11,201,219,039.20, representing 30.53% of total assets, up 82.26% from the previous period[45]. - The company's total assets increased by 40.06% to ¥21,320,842,517.33, with retained earnings reaching ¥18,840,828,677.09, accounting for 51.36% of total assets[45]. - The company reported a significant decrease in trading financial assets, which fell to ¥1,059,147,146.12 from ¥6,030,525,824.03, a decline of about 82.5%[170]. - The company's cash flow from financing activities resulted in a net outflow of ¥2,196,641,987.10, compared to a net outflow of ¥174,619,393.20 in 2021[186]. Future Outlook - The company provided a positive outlook for 2023, projecting a revenue growth of 10% to 12% based on current market trends and expansion strategies[84]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[188]. - The company aims for a revenue growth of approximately 20% compared to the previous year in 2023[70].

Financial Performance - The company's operating revenue for Q3 2022 was RMB 6,810,273,510.41, representing a year-on-year increase of 32.54%[2] - The net profit attributable to shareholders for Q3 2022 was RMB 2,095,652,875.71, reflecting a 56.96% increase compared to the same period last year[2] - The basic earnings per share for Q3 2022 was RMB 1.71, up 55.45% year-on-year[2] - The total sales revenue for the company in Q3 2022 reached RMB 2,200,954,010, with the Fenjiu series contributing RMB 2,065,940,460[11] - Net profit for Q3 2022 was ¥7,152,754,394.92, representing a 45.0% increase compared to ¥4,926,713,515.02 in Q3 2021[20] - The company reported a total profit of ¥9,570,372,743.72 for Q3 2022, up from ¥6,649,001,042.74 in Q3 2021, showing strong financial performance[19] Assets and Equity - Total assets at the end of Q3 2022 reached RMB 33,449,830,453.83, an increase of 11.67% from the end of the previous year[3] - The equity attributable to shareholders at the end of Q3 2022 was RMB 20,203,329,642.98, showing a growth of 32.72% year-on-year[3] - The company reported a total equity of RMB 20,611,518,695.45 as of September 30, 2022, compared to RMB 15,586,759,943.61 at the end of 2021[16] Cash Flow - The net cash flow from operating activities for the year-to-date period was RMB 8,141,167,157.34, an increase of 32.94% compared to the same period last year[6] - Cash flow from operating activities for the first three quarters of 2022 was ¥8,141,167,157.34, compared to ¥6,123,992,066.88 in the same period of 2021, reflecting improved cash generation[22] - The company achieved a net cash inflow from operating activities of ¥23,009,775,119.19 for the first three quarters of 2022, compared to ¥19,076,775,417.06 in the same period of 2021, indicating robust operational efficiency[22] Liabilities - The total liabilities decreased to RMB 12,838,311,758.38 from RMB 14,367,804,020.04 year-over-year[16] Shareholder Information - The company has a total of 58,268 common shareholders at the end of the reporting period[9] - The largest shareholder, Shanxi Xinghuacun Fenjiu Group Co., Ltd., holds 56.56% of the shares[9] Market and Sales Growth - The company reported a significant increase in sales volume and product structure improvement as the main reasons for revenue growth[6] - The number of distributors increased by 205 during the reporting period, bringing the total to 3,729[12] - The revenue from e-commerce platforms was RMB 98,884,490, representing a small but significant portion of total sales[11] - The company plans to continue expanding its market presence and product offerings in the coming quarters[11] Costs and Expenses - Total operating costs for the first three quarters of 2022 were ¥12,744,595,041.00, up 20.4% from ¥10,583,774,699.18 in the previous year[17] - Research and development expenses in Q3 2022 amounted to ¥39,635,149.03, significantly up from ¥12,728,690.84 in Q3 2021, indicating a focus on innovation[19] - Tax expenses for Q3 2022 were ¥2,417,618,348.80, compared to ¥1,722,287,527.72 in Q3 2021, reflecting higher profitability[20] Investment Activities - The net cash flow from investment activities was -7,813,622,783.12 CNY, compared to -4,847,760,222.79 CNY in the previous year[24] - The total cash inflow from investment activities was 21,286,278,268.61 CNY, compared to 3,921,300,192.21 CNY in the previous year[24] - The cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was 695,901,051.73 CNY, up from 62,060,415.00 CNY year-over-year[24] - The cash paid for investments was 28,404,000,000.00 CNY, compared to 8,707,000,000.00 CNY in the previous year[24] - The cash outflow from investment activities totaled 29,099,901,051.73 CNY, compared to 8,769,060,415.00 CNY in the previous year[24] Accounting Standards - The company has adopted new accounting standards starting from 2022, which may affect the financial statements[24]

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥15,333,732,971.32, representing a 26.53% increase compared to ¥12,118,749,284.02 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was ¥5,012,613,253.75, up 41.46% from ¥3,543,574,640.21 in the previous year[15]. - The net cash flow from operating activities was ¥4,682,491,044.87, showing a significant increase of 116.85% compared to ¥2,159,288,207.88 in the same period last year[15]. - Basic earnings per share for the first half of 2022 were ¥4.1183, a 41.10% increase from ¥2.9187 in the same period last year[16]. - The company reported a weighted average return on equity of 28.83%, down 1.88 percentage points from 30.71% in the previous year[16]. - The company's gross profit margin improved, with operating profit increasing by 41.39% to ¥6,763,502,151.73 from ¥4,783,713,403.21[23]. - The company’s tax expenses rose by 41.68% to ¥1,712,232,645.10, reflecting increased revenue and profit levels[23]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥31,027,251,222.43, a 3.58% increase from ¥29,954,563,963.65 at the end of the previous year[15]. - The total liabilities decreased to CNY 12,524,086,233.52 from CNY 14,367,804,020.04, a reduction of 12.83%[60]. - Total current assets increased to CNY 26,145,848,190.86 from CNY 25,285,666,605.90, representing a growth of 3.42%[58]. - Total non-current assets rose to CNY 4,881,403,031.57 from CNY 4,668,897,357.75, an increase of 4.54%[59]. Market and Sales - The total production of finished liquor in the first half of the year was 93,700 kiloliters[22]. - The sales revenue of the Qinghua Fenjiu series reached 6.1 billion yuan, with a year-on-year growth of 56%[22]. - The company is focusing on expanding its market presence in East and South China, optimizing its product structure[22]. - The company’s sales revenue from e-commerce platforms amounted to 74,432.77 million CNY, while direct sales (including group purchases) contributed 24,060.62 million CNY[31]. - The company’s sales in the domestic market reached 563,449.66 million CNY, while sales in the external market totaled 959,242.12 million CNY[33]. Investments and R&D - Research and development expenses increased by 153.41% to ¥24,037,284.76, compared to ¥9,485,603.41 in the same period last year, indicating a significant investment in innovation[23]. - The company is implementing the "Fenjiu 2030 Technical Reform Project" to enhance production capacity and quality[22]. - The company has established a digital transformation initiative called "Smart Fenjiu" to improve management efficiency and marketing[22]. Environmental and Social Responsibility - The company’s environmental compliance includes a total discharge of 0.42 tons of COD and 23.7 tons of nitrogen oxides during the first half of 2022[38]. - The company has donated 360 sets of school uniforms to support education in the local community[47]. - The company has initiated the construction of two bridges to assist local villagers with transportation issues[47]. - The company has implemented energy-saving measures that resulted in a reduction of natural gas consumption from 72.23 m³/t to 71.02 m³/t for steam production in the first half of the year[46]. Corporate Governance and Shareholder Information - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for this reporting period[2]. - The total number of common shareholders as of the end of the reporting period is 58,142[53]. - The top shareholder, Shanxi Xinghuacun Fenjiu Group Co., Ltd., holds 690,121,565 shares, representing 56.56% of total shares[53]. - The company maintains a good integrity status during the reporting period[48]. - There were no significant lawsuits or arbitration matters during the reporting period[48]. Related Party Transactions - The company expects to have a total related party transaction amount not exceeding 79.6 million CNY with its controlling shareholder Fenjiu Group and its subsidiaries in 2022[48]. - During the reporting period, the company had related party transactions totaling 22.7755 million CNY with Fenjiu Group and its subsidiaries, and an additional 22.138 million CNY through public bidding with a subsidiary of the actual controller[48]. Financial Reporting and Compliance - The financial statements are prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations for the next 12 months[92]. - The accounting basis is accrual accounting, with historical cost as the measurement basis, except for certain financial instruments measured at fair value[93]. - The company confirms that the financial statements comply with the requirements of the accounting standards, reflecting the financial position, operating results, changes in equity, and cash flows accurately[95].

Financial Performance - In 2021, the company's operating revenue reached ¥19,970,986,258.92, representing a 42.75% increase compared to ¥13,989,804,850.80 in 2020[16] - The net profit attributable to shareholders was ¥5,313,612,016.46, a 72.56% increase from ¥3,079,233,696.58 in the previous year[16] - The net cash flow from operating activities was ¥7,645,105,077.97, showing a significant increase of 280.39% from ¥2,009,820,403.80 in 2020[16] - The total assets of the company at the end of 2021 were ¥29,954,563,963.65, a 51.45% increase from ¥19,778,534,913.06 at the end of 2020[16] - The company's net assets attributable to shareholders increased by 55.70% to ¥15,222,725,794.60 from ¥9,776,959,788.65 in 2020[16] - Basic earnings per share for 2021 were ¥4.3749, a 72.51% increase from ¥2.5360 in 2020[17] - The weighted average return on net assets was 42.04%, an increase of 6.95 percentage points from 35.09% in 2020[17] - The company achieved an annual revenue of 19.971 billion RMB, representing a year-on-year growth of 42.75%[22] - The net profit attributable to shareholders reached 5.314 billion RMB, with a year-on-year increase of 72.56%[22] Cash Flow and Assets - The company reported a net cash flow from operating activities of approximately 3.965 billion RMB in Q3 2021[19] - The company's cash and cash equivalents at the end of the period amounted to ¥6,145,803,124.58, a decrease of 33.41% compared to the previous period[38] - The total assets of the company include contract liabilities of ¥7,375,876,205.87, which increased by 137.40% due to an increase in advance payments received[38] - The company's cash flow from operating activities improved significantly, contributing to the overall financial health and stability[140] Market Expansion and Strategy - The company is actively expanding its international market presence, particularly in the Asia-Pacific region, under the "Belt and Road" initiative[22] - The company is focusing on optimizing product structure and enhancing high-end product positioning to drive revenue growth[22] - The company successfully opened overseas experience stores in Singapore, Bangkok, and Cologne, marking a historic breakthrough in the Eastern European market[22] - The company is focusing on brand enhancement and cultural promotion to increase its international market presence[57] - The company plans to enhance its market presence through innovation and international expansion, aiming for comprehensive improvements by the end of the 14th Five-Year Plan[54] Research and Development - Research and development expenses increased by 37.97% to approximately ¥22.99 million, up from ¥16.67 million in the previous year[27] - The company plans to enhance its research and development efforts, particularly in microbial ecological brewing and food safety standards[56] - The company is investing 100 million RMB in research and development for new technologies[67] - Research and development investments increased by 30%, focusing on innovative brewing techniques and product customization[71] Governance and Compliance - The company held the 2020 annual general meeting on June 18, 2021, with resolutions published on June 19, 2021, ensuring compliance with legal and regulatory requirements[61] - The company has established a governance action leadership group to enhance internal control and governance standards, promoting sustainable development[60] - The board of directors and supervisory board operated effectively, ensuring compliance with relevant laws and regulations[60] - The company has no significant differences in governance practices compared to regulatory requirements set by the China Securities Regulatory Commission[61] Social Responsibility and Sustainability - The company has made significant investments in social responsibility, providing a ¥10 million fund for sorghum planting in the supporting county of Qin County[23] - The company is focused on achieving the national dual carbon goals through the development of green and ecological products[102] - The company is committed to improving its governance structure and internal control mechanisms to ensure sustainable development[56] - The company is actively pursuing the expansion of its health wine production capacity, having received environmental approval for the project[98] Shareholder and Executive Compensation - The company distributed cash dividends of 0.2 CNY per share, totaling 174.3 million CNY in cash dividends and 348.6 million shares in stock dividends[87] - The total pre-tax remuneration for the company’s executives amounted to 1,489.98 million yuan for the reporting period[64] - The total shares held by Director Chang Jianwei increased from 20,000 to 28,000, with an increase of 8,000 shares due to profit distribution[63] - The company reported a total increase of 110,160 shares across all executives during the reporting period[64] Environmental Impact - The company reported total emissions for 2021: Chemical Oxygen Demand (COD) at 2.256 tons, Ammonia Nitrogen at 0.1112 tons, Nitrogen Oxides at 37.02 tons, and Sulfur Dioxide at 0.274 tons[94] - The company has implemented a water reuse system, recycling approximately 2 million tons of treated wastewater annually for landscaping and public sanitation[96] - The company has installed online monitoring systems for COD, Ammonia Nitrogen, Total Phosphorus, and Total Nitrogen, ensuring compliance with environmental standards[97] - The company has not faced any administrative penalties related to environmental issues during the reporting period[102] Financial Reporting and Audit - The audit report confirmed that the financial statements fairly reflect the financial position and operating results of Shanxi Fenjiu as of December 31, 2021[130] - The audit identified the recognition of main business revenue as a key audit matter due to its significant amount and inherent risk[130] - The company has evaluated its ability to continue as a going concern for the next 12 months, with no significant doubts identified[167] - The financial statements are prepared in accordance with the accounting standards set by the Ministry of Finance, ensuring compliance and accuracy[166]

Financial Performance - The company's operating revenue for Q1 2022 reached ¥10,530,300,854.04, representing a year-on-year increase of 43.62%[4] - Net profit attributable to shareholders was ¥3,710,105,976.27, reflecting a significant increase of 70.03% compared to the same period last year[4] - Basic earnings per share were reported at ¥3.04, which is a 69.83% increase from the previous year[4] - The company experienced a 71.57% increase in operating profit, driven by higher sales revenue[6] - Total operating revenue for Q1 2022 reached ¥10,530,300,854.04, a 43.0% increase from ¥7,332,071,098.88 in Q1 2021[15] - Net profit for Q1 2022 was ¥3,727,993,583.65, representing a 70.7% increase compared to ¥2,184,769,602.15 in Q1 2021[16] - The company reported a total profit of ¥4,987,106,877.09 for Q1 2022, compared to ¥2,906,717,223.11 in Q1 2021, reflecting strong operational performance[16] Cash Flow - The net cash flow from operating activities amounted to ¥3,538,501,188.66, showing a remarkable increase of 1,336.01% year-on-year[4] - In Q1 2022, the net cash flow from operating activities was CNY 3,538,501,188.66, a significant increase from CNY 246,411,587.02 in Q1 2021, reflecting a growth of approximately 1,332%[19] - Total cash inflow from operating activities reached CNY 9,072,483,058.46, compared to CNY 5,219,865,795.93 in the same period last year, indicating a year-over-year increase of about 73.5%[19] - Cash outflow from operating activities was CNY 5,533,981,869.80, up from CNY 4,973,454,208.91 in Q1 2021, representing an increase of approximately 11.3%[19] - The ending cash and cash equivalents balance was CNY 1,201,908,786.32, down from CNY 4,617,410,142.18 in Q1 2021, showing a decrease of approximately 74.0%[20] - The company reported a cash inflow from sales and services of CNY 8,871,734,186.22, compared to CNY 5,159,863,964.78 in Q1 2021, representing an increase of about 72.5%[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥30,907,569,647.20, up 3.18% from the end of the previous year[4] - The total liabilities amounted to ¥11,582,106,844.12, a decrease from ¥14,367,804,020.04 in the previous year[14] - The total equity increased to ¥19,325,462,803.08 from ¥15,586,759,943.61 year-over-year[14] - The company's total assets as of March 31, 2022, amounted to CNY 30,907,569,647.20, an increase from CNY 29,954,563,963.65 at the end of the previous year[13] - The company's inventory decreased to CNY 7,585,347,962.25 from CNY 8,188,997,235.88 year-over-year[12] - The total current liabilities were reported at CNY 12,000,000,000, with accounts payable at CNY 1,876,121,581.39[13] Shareholder Information - Shareholders' equity attributable to the parent company increased by 24.44% to ¥18,943,541,046.69 compared to the end of the previous year[4] - The top ten shareholders include Shanxi Xinghuacun Fenjiu Group Co., Ltd., holding 56.56% of shares, and Huachuang Xinxin (Hong Kong) Co., Ltd., holding 11.38%[8] Revenue Breakdown - The total revenue for the first quarter of 2022 reached CNY 1,048,066.32 million, with the main product, Fenjiu, contributing CNY 987,322.65 million[10] - The company’s revenue from direct sales (including group purchases) was CNY 16,182.46 million, while revenue from agents was CNY 975,318.49 million[10] - The revenue from e-commerce platforms was CNY 56,565.37 million, indicating a growing trend in online sales[10] Research and Development - Research and development expenses for Q1 2022 were ¥7,480,008.27, up from ¥4,196,631.90 in Q1 2021, indicating a focus on innovation[15] Investment Activities - The net cash flow from investing activities was CNY -8,328,752,235.83, a decline from CNY -227,692,920.00 in Q1 2021, indicating a worsening of investment cash flow[20] - Cash inflow from investing activities totaled CNY 1,381,945,679.73, compared to CNY 929,977,565.53 in the previous year, marking an increase of about 48.3%[20] - Cash outflow from investing activities was CNY 9,710,697,915.56, significantly higher than CNY 1,157,670,485.53 in Q1 2021, reflecting an increase of approximately 738%[20]

Financial Performance - The company's operating revenue for Q3 2021 reached ¥5,138,183,046.62, representing a 47.81% increase compared to ¥3,474,513,987.70 in the same period last year[4] - Net profit attributable to shareholders was ¥1,335,187,989.94, a 53.24% increase from ¥856,363,838.97 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥1,334,677,306.02, reflecting a 52.99% increase compared to ¥857,153,907.74 in the previous year[4] - The basic earnings per share (EPS) for the quarter was ¥1.10, up 54.93% from ¥1.00 in the same quarter last year[4] - The diluted EPS also stood at ¥1.10, marking a 54.93% increase compared to ¥1.00 in the previous year[4] - Total operating revenue for the first three quarters of 2021 reached ¥17,256,932,330.64, a significant increase from ¥10,381,037,317.40 in the same period of 2020, representing a growth of approximately 65.5%[19] - The net profit for the first three quarters of 2021 was ¥6,649,001,042.74, compared to ¥3,442,833,601.28 in the same period of 2020, reflecting an increase of approximately 93.8%[20] - The net profit for Q3 2021 was CNY 4,926,713,515.02, a significant increase of 92.8% compared to CNY 2,567,472,215.75 in Q3 2020[22] - Basic earnings per share for Q3 2021 were CNY 4.02, up from CNY 2.05 in the same quarter last year, reflecting a growth of 96.1%[23] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was ¥6,123,992,066.88, a significant increase of 198.85% compared to ¥1,780,922,563.36 in the same period last year[4] - Cash flow from operating activities for the first three quarters of 2021 was CNY 6,123,992,066.88, compared to CNY 2,049,216,025.15 in the previous year, indicating a growth of 198.5%[24] - Cash and cash equivalents at the end of Q3 2021 amounted to CNY 4,468,386,890.16, up from CNY 4,103,538,515.35 at the end of Q3 2020, representing a growth of 8.9%[25] - The company reported cash inflows from operating activities totaling CNY 19,076,775,417.06 for the first three quarters of 2021, compared to CNY 10,537,704,588.94 in the same period of 2020, an increase of 80.5%[24] - The company's cash and cash equivalents increased to RMB 10,707.08 million from RMB 4,606.71 million year-over-year[15] - As of September 30, 2021, the company's total current assets amounted to RMB 22,051.86 million, an increase from RMB 15,807.96 million at the end of 2020[15] Shareholder Information - The total number of common shareholders at the end of the reporting period was 80,396[9] - The largest shareholder, Shanxi Xinghuacun Fenjiu Group Co., Ltd., holds 690,121,565 shares, accounting for 56.56% of total shares[9] Operational Highlights - The company expanded its dealer network, increasing the number of dealers in the domestic market by 87 to a total of 732, and in the external market by 443 to a total of 2,694[12] - The company launched a new 10,000-ton raw liquor production capacity project and a 58,800-ton raw liquor storage project to support high-quality development[13] - The company is focusing on expanding its market presence in southern China, particularly in Jiangsu, Zhejiang, Shanghai, Anhui, and Guangdong[13] - The company emphasizes the "green Fenjiu" quality control concept, showcasing its commitment to craftsmanship and historical culture[13] Costs and Liabilities - Total operating costs for the third quarter of 2021 were ¥10,583,774,699.18, compared to ¥6,900,477,020.45 in the previous year, indicating an increase of about 53.5%[20] - The total liabilities for the third quarter of 2021 were ¥11,391,857,823.59, compared to ¥9,713,598,177.81 in the same period of 2020, which is an increase of approximately 17.3%[18] - The company reported a significant increase in accounts payable, which rose to ¥1,515,924,719.73 in the third quarter of 2021 from ¥1,454,927,658.73 in the same period of 2020, an increase of approximately 4.2%[18] Research and Development - Research and development expenses for the third quarter of 2021 were ¥12,728,690.84, slightly down from ¥13,254,872.57 in the same quarter of 2020, indicating a decrease of about 3.9%[20] Government Support - The company received government subsidies amounting to ¥261,589.87 during the quarter, contributing to its financial performance[7]

Financial Performance - The company's operating revenue for the first half of 2021 reached CNY 12,118,749,284.02, representing a 75.51% increase compared to CNY 6,904,897,253.68 in the same period last year[16]. - Net profit attributable to shareholders was CNY 3,543,574,640.21, up 117.54% from CNY 1,628,931,882.54 in the previous year[16]. - The net cash flow from operating activities was CNY 2,159,288,207.88, an increase of 47.65% compared to CNY 1,462,407,993.93 in the same period last year[16]. - Basic earnings per share for the first half of 2021 were CNY 2.92, a 117.91% increase from CNY 1.34 in the same period last year[17]. - The total revenue from sales of goods and services was CNY 6,405,875,245.50, compared to CNY 5,240,384,290.52, reflecting a growth of approximately 22.2%[86]. - The total comprehensive income for the first half of 2021 was CNY 3,543,574,640.21, reflecting a strong performance compared to the same period last year[89]. Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 23,534,783,500.52, reflecting an 18.99% increase from CNY 19,778,534,913.06 at the end of the previous year[16]. - Cash and cash equivalents at the end of the period were ¥6,870,387,960.90, a 49.14% increase from ¥4,606,714,042.74 at the end of the previous year[30]. - Total liabilities were CNY 10.02 billion, an increase from CNY 9.71 billion, showing a growth of approximately 3.2%[73]. - The total equity attributable to shareholders reached ¥10,943,635,112.40, up from ¥8,504,066,915.13, marking an increase of around 28.7%[77]. Cash Flow - Operating cash flow increased by 47.65% to ¥2,159,288,207.88, compared to ¥1,462,407,993.93 in the same period last year[25]. - Cash flow from financing activities resulted in a net outflow of CNY -58,286,845.27, compared to a larger outflow of CNY -849,367,699.54 in the prior year[85]. - Cash received from investment recoveries was CNY 3,170,160,000.00, significantly higher than CNY 770,000,000.00 in the previous period[84]. Market Strategy and Operations - The company has over 1.1 million acres of raw grain planting bases across various regions, ensuring the quality of raw materials[20]. - The sales strategy includes a combination of direct sales, e-commerce, and franchising, with over 1 million controllable terminal outlets nationwide[23]. - The company is focusing on technological innovation and has established partnerships with top tech firms to integrate traditional brewing with advanced technology[23]. - The company plans to enhance its market expansion efforts both domestically and internationally, particularly in the southern market[24]. Risk Management - There are no significant risks affecting the company's production and operations during the reporting period[5]. - The company faces macroeconomic fluctuation risks, which may impact the liquor industry due to its close ties with consumer market trends[36]. - The company is also addressing risks related to the COVID-19 pandemic, implementing measures to minimize its adverse effects on operations[37]. - The company is managing risks associated with rising raw material costs, particularly for key ingredients like sorghum and barley, by enhancing supply chain management[37]. Environmental and Social Responsibility - The company has reused approximately 2 million tons of treated wastewater annually for environmental greening and public sanitation[46]. - An investment of over 44 million RMB was made to replace all coal-fired boilers with natural gas boilers, significantly reducing pollution and energy consumption[46]. - The company allocated 385,600 RMB from its public welfare fund to support 1,997 households in five villages during the Spring Festival[55]. - The company is committed to promoting rural revitalization and ensuring the consolidation of poverty alleviation results in the villages it supports[56]. Shareholder Information - The company has not proposed any profit distribution or capital reserve increase plans for the half-year period[40]. - The total number of ordinary shareholders at the end of the reporting period was 63,475[67]. - The largest shareholder, Shanxi Xinghuacun Fenjiu Group, held 492,943,975 shares, representing 56.56% of the total shares[69]. - The company completed the first phase of the restricted stock incentive plan, releasing 2,260,000 shares, while repurchasing and canceling 18,000 shares due to unmet performance conditions[65]. Accounting and Financial Reporting - The financial statements are prepared based on the accrual basis of accounting, reflecting the company's financial position and operating results accurately[104]. - The company recognizes revenue when control of goods or services is transferred to the customer, based on the transaction price allocated to the performance obligation[169]. - The company assesses expected credit losses based on reasonable and supportable forward-looking information, considering factors such as significant changes in the debtor's operating results and economic environment[121]. - The company has adopted the new leasing standards, confirming the right-of-use assets and lease liabilities at the start of the lease term[180].