文峰大世界连锁发展股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会的公告 本公司董事会及全体董事保证公告内容不存在虚假记载、误导性陈述或者重大遗漏，并 对其内容的真实性、准确性和完整性承担个别及连带责任。 会议召开时间：2023 年 06 月 08 日(星期四)下午 15:00-16:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 06 月 01 日(星期四)至 06 月 07 日(星期三)16:00 前登录 上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 wf@wfgf.cn 进行 提问。公司将在说明会上对投资者普遍关注的问题进行回答。 文峰大世界连锁发展股份有限公司（以下简称"公司"）已于 2023 年 4 月 29 日发布公司 2022 年度报告和 2023 年第一季度报告，为便于广大投资者更全面深 入地了解公司 2022 年度和 2023 年第一季度经营成果、财务状况，公司计划于 2023 年 06 月 08 日下午 15:00-16:00 ...

Financial Performance - In 2022, the company's operating revenue was approximately CNY 2.39 billion, a decrease of 3.29% compared to CNY 2.47 billion in 2021[22]. - The net profit attributable to shareholders of the listed company for 2022 was a loss of approximately CNY 161.96 million, a decline of 168.46% from a profit of CNY 236.56 million in 2021[22]. - The company's total assets at the end of 2022 were approximately CNY 6.65 billion, down 9.80% from CNY 7.37 billion at the end of 2021[22]. - The net assets attributable to shareholders of the listed company decreased to approximately CNY 4.37 billion, a reduction of 8.97% from CNY 4.80 billion in 2021[22]. - Basic earnings per share for 2022 were -CNY 0.09, a decrease of 169.23% compared to CNY 0.13 in 2021[23]. - The company reported a significant impact on net profit due to losses from a private equity fund investment, amounting to a negative effect of CNY 201.63 million[24]. - The company did not propose any cash dividends or stock dividends for 2022 due to the negative net profit[5]. - The weighted average return on net assets was -3.54% for 2022, a decrease of 8.42 percentage points from 4.88% in 2021[24]. - The company’s revenue from core business activities was approximately CNY 2.06 billion, down 2.98% from CNY 2.13 billion in 2021[22]. - The company achieved a cash flow from operating activities of 328.15 million RMB in Q3, significantly recovering from a negative cash flow of 29.98 million RMB in Q2[9]. Revenue Breakdown - In 2022, the company reported a total revenue of approximately 2.39 billion RMB, with quarterly revenues of 698.81 million RMB in Q1, 540.43 million RMB in Q2, 580.79 million RMB in Q3, and 572.58 million RMB in Q4[9]. - The revenue from the department store segment was CNY 892 million, down 14.21% year-on-year, with a gross margin of 68.35%[47]. - The supermarket segment generated revenue of CNY 556 million, down 12.77% year-on-year, with a gross margin of 16.23%[47]. - The electrical appliance segment saw revenue of CNY 581 million, an increase of 44.57% year-on-year, but with a gross margin of only 10.21%[47]. - The company reported a decline in revenue across most segments compared to 2021, with department store revenue decreasing by 11,694.87 million RMB and supermarket revenue decreasing by 16,664.77 million RMB[70]. Operational Adjustments - The company launched the "Wenfeng Cloud Purchase" mini-program in November 2022, aimed at enhancing digital operations and integrating online and offline business models[35]. - The company implemented a series of adjustments to enhance online retail competitiveness, including the establishment of a new digital center and the optimization of its online shopping platform[31]. - The company focused on supply chain optimization and introduced new products to meet market demand, particularly in the supermarket segment, which saw significant online sales growth[33]. - The company maintained its market position despite overall performance decline, with efforts to support suppliers through rent reductions and financial assistance[32]. - The shopping center segment achieved a reverse growth in rental efficiency, emphasizing the importance of innovative customer experiences and event-driven marketing strategies[34]. Membership and Customer Engagement - Membership increased to 1.4725 million by the end of 2022, a year-on-year increase of 167,600 members, while effective members decreased by 35,100 to 507,600[75]. - The company achieved a total of 3.389 billion RMB in sales through members, a decline of 16.14% year-on-year, with member sales accounting for 67.51% of total sales, an increase of 0.7%[75]. - The company engaged in various promotional activities, including the "Nantong Summer Shopping Festival" and "Wenfeng 11.11 Shopping Festival," to boost sales and consumer confidence[76]. Investment and Financial Strategy - The company invested approximately RMB 500 million in Tianfeng Securities, acquiring 122,249,388 shares at a price of RMB 4.09 per share, and subsequently sold all shares by the end of 2022, incurring an investment loss of RMB 91.87 million[83]. - The company subscribed to a private equity fund with an investment of RMB 200 million, which reported a fair value loss of RMB 201.63 million due to significant debt defaults by the issuer[84]. - The company has invested CNY 2,554,650,000 in bank wealth management products, with an outstanding balance of CNY 300,371,800.41[175]. - The company has also invested CNY 109,978,000 in other financial products, with an outstanding balance of CNY 300,000,000[175]. Governance and Management Changes - The company appointed Wang Yue as the new General Manager on September 5, 2022, following the resignation of Miao Zhe[117]. - The company reported a significant leadership change with the resignation of several key executives, including the Vice General Manager Zhu Huayun on September 9, 2022[117]. - The company has a diverse leadership team with members holding multiple positions across various subsidiaries, enhancing operational synergy[118]. - The company has been actively involved in the appointment and resignation of board members and executives, indicating a dynamic management structure[119]. - The company’s leadership transitions are aimed at strengthening its operational effectiveness and strategic direction[119]. Risk Management and Compliance - The company has identified one significant internal control deficiency related to non-financial reporting, which will be addressed[133]. - The company has established a risk disposal team led by the legal department to protect investment assets and maintain shareholder interests following the fund's losses[146]. - The company has revised and improved internal control systems, including the "Entrusted Financial Management System" and "Securities Investment and Derivative Trading Management System" to enhance risk control capabilities[146]. - The company has not faced any penalties from securities regulatory authorities in the past three years[124]. Social Responsibility and Environmental Initiatives - The company invested a total of 534.02 million yuan in poverty alleviation and rural revitalization projects, including 523.76 million yuan for purchasing "Youmi" blueberry series liquor from Guizhou Province[155]. - The company contributed 15.08 million yuan to social responsibility initiatives, with 4.20 million yuan in cash donations and 10.88 million yuan in material donations[154]. - The company supports water-saving environmental projects, such as promoting low-water-use crops in Inner Mongolia, demonstrating its commitment to environmental responsibility[153]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 94,746, an increase from 94,258 at the end of the previous month[183]. - The largest shareholder, Jiangsu Wenfeng Group Co., Ltd., holds 544,724,567 shares, accounting for 29.48% of the total share capital[185]. - The company repurchased 24,642,935 shares, which is 1.33% of the total share capital, through a dedicated securities account[186]. - The actual controller of the company is Xue Jian, who is also the largest shareholder of Jiangsu Wenfeng Group[194].

Financial Performance - The company's operating revenue for Q1 2023 was ¥632,130,431.93, a decrease of 9.54% compared to the same period last year[2] - Net profit attributable to shareholders was ¥86,179,947.06, while the net profit excluding non-recurring gains and losses increased by 37.63% to ¥83,055,407.56[2] - Net profit for Q1 2023 was CNY 85,538,887.00, a significant recovery from a net loss of CNY 24,808,562.59 in Q1 2022[16] - The company reported a profit before tax of CNY 115,816,590.26, compared to a loss of CNY 14,765,724.33 in the previous year[16] - Earnings per share for Q1 2023 were CNY 0.05, compared to a loss per share of CNY 0.01 in Q1 2022[16] Cash Flow - The net cash flow from operating activities surged by 192.67% to ¥228,311,777.72[2] - Operating cash flow for Q1 2023 was CNY 228,311,777.72, an increase from CNY 78,010,120.84 in Q1 2022[18] - Cash inflow from operating activities totaled CNY 842,470,394.07, down from CNY 1,059,421,831.59 in the same period last year[18] - Cash inflow from investment activities was CNY 1,270,624,038.83, an increase from CNY 837,470,567.64 in Q1 2022[18] - The net cash flow from investing activities was $269,475,233.71, an increase from $98,070,480.04 in the previous year[19] - The net cash flow from financing activities was -$109,276,562.25, a significant decrease from -$3,804,216.56 in the previous year[19] - Cash inflows from financing activities totaled $59,773,095.16, down from $120,000,000.00 in the previous year[19] - The net increase in cash and cash equivalents for the period was $388,510,449.18, compared to $172,276,384.32 in the previous year[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,713,133,247.18, reflecting a 0.99% increase from the end of the previous year[2] - The total current liabilities decreased slightly to RMB 2,089,679,010.53 from RMB 2,100,410,851.54, reflecting better management of short-term obligations[12] - The company's total liabilities decreased to CNY 2,278,008,220.40 from CNY 2,298,475,804.35[13] - The company's total liabilities as of March 31, 2023, were RMB 2,089,679,010.53, reflecting a stable financial position[12] Shareholder Equity - Shareholders' equity attributable to the parent company increased by 1.98% to ¥4,454,302,847.84[2] - The total equity of the company as of March 31, 2023, was RMB 4,623,454,236.65, compared to RMB 4,547,210,569.12 at the end of 2022, showing growth in shareholder equity[11] - Shareholders' equity increased to CNY 4,435,125,026.78 from CNY 4,349,145,616.31, reflecting a growth of 1.98%[13] Investment and Strategy - The company plans to continue focusing on cash flow management and optimizing its investment strategies moving forward[5] - The company’s long-term investments decreased to RMB 5,901,128.59 from RMB 39,267,320.19, indicating a strategic shift in investment focus[12] - The company reported a tax-preferred investment income of approximately RMB 24,030,000 from the sale of a 30.4348% stake in Hualkang, positively impacting net profit for 2023[10] - The company's total revenue guidance for the upcoming quarter remains optimistic, with expectations of continued growth driven by market expansion strategies[10] Inventory and Operational Efficiency - The company’s inventory decreased to RMB 377,153,663.43 from RMB 391,911,029.02, suggesting improved inventory management[12] - The company experienced a 77.37% decrease in current assets due to the recovery of debt investments[4] - The company’s accounts payable increased to RMB 332,392,342.96 from RMB 268,172,334.64, indicating a rise in operational liabilities[12] Cash and Liquidity - The company reported a significant increase in cash and cash equivalents, up by 54.62% due to net cash inflows from operating and investing activities[4] - The company's cash and cash equivalents reached RMB 1,121,712,382.92, up from RMB 725,477,591.73 at the end of 2022, indicating a significant liquidity improvement[11] - Total cash and cash equivalents at the end of the period reached $1,047,287,954.38, compared to $580,487,062.10 in the same period last year[19]

2022 年第三季度报告 证券代码：601010 证券简称：文峰股份 文峰大世界连锁发展股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 一、 主要财务数据 主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上 | | | 年初至报告期末 | | --- | --- | --- | --- | --- | --- | | | | 年同期增减变 | | 年初至报告期末 | 比上年同期增减 | | | | 动幅度(%) | | | 变动幅度(%) | | 营业收入 | 580,787,570.65 | | 12.15 | 1,820,032,938.92 | -1.32 | | 归属于上市 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,239,245,368.27, a decrease of 6.58% compared to the same period last year[16]. - The net profit attributable to shareholders of the listed company was a loss of CNY 228,097,007.28, representing a decrease of 198.82% year-on-year[16]. - The net cash flow from operating activities decreased by 60.68% to CNY 48,031,771.89, primarily due to reduced cash inflow from sales[17]. - The total assets at the end of the reporting period were CNY 6,809,256,281.37, down 7.61% from the end of the previous year[16]. - The net assets attributable to shareholders of the listed company decreased by 10.36% to CNY 4,301,261,842.31[16]. - Basic earnings per share for the first half of 2022 were -CNY 0.1251, a decline of 200.16% compared to the same period last year[16]. - The weighted average return on net assets was -4.89%, a decrease of 9.52 percentage points year-on-year[16]. - The company reported a significant investment loss of CNY 80,320,000 from the sale of Tianfeng Securities stock during the reporting period[16]. - The decrease in net profit was mainly attributed to the impact of the pandemic on revenue and ongoing expenses such as employee salaries and rent[16]. - The company reported a total non-recurring loss of approximately ¥305.74 million, primarily due to fair value changes in financial assets and liabilities[19]. Business Operations - The company's main business includes chain operations of department stores, supermarkets, and electrical appliance stores, with a focus on the Jiangsu province and Shanghai[21]. - In the first half of 2022, the revenue from the consignment model accounted for 74.88% of the main business sales revenue[21]. - The total revenue for the first half of 2022 was approximately ¥470.86 million, with a gross profit of ¥41.10 million[22]. - The company experienced a decline in revenue across various segments, with department store revenue decreasing by ¥83.44 million year-on-year[22]. - The retail industry faced significant challenges, with a 2.7% decline in physical retail sales and an 8.4% drop in department store sales nationwide in the first half of 2022[22]. - The company ranked 37th in the "2021 China Chain Top 100" published by the China Chain Store & Franchise Association[24]. - The company has a strong market presence in Nantong, having operated for over 20 years, and enjoys high brand recognition among consumers[24]. - The company emphasizes a service philosophy of "delivering a better life," which has fostered consumer trust and loyalty[25]. - The company is actively integrating its various business formats to enhance operational efficiency and market competitiveness[25]. Investment and Financial Activities - The company launched the "Wenfeng Cloud Purchase" e-commerce platform, integrating four major business formats and enhancing member engagement[29]. - The company implemented relief policies for suppliers, including temporary rent exemptions and fee reductions, to mitigate the impact of the pandemic[29]. - The company plans to officially launch the Wenfeng Cloud Purchase platform in the second half of 2022, marking a significant industry breakthrough[29]. - The company’s investment activities generated a net cash flow of CNY 281 million, an increase of 336.58% year-on-year, due to the recovery of equity and debt investments[30]. - The company invested 200 million yuan in the Shoupur Fund, which reported a fair value change of -201.63 million yuan during the reporting period, indicating significant investment risk[34]. Subsidiary Performance - The net profit of subsidiaries such as Nantong Wengfeng Shopping Center reached approximately 56.39 million RMB, while others like Jiangsu Wengfeng Electric Co., Ltd. reported a net loss of about 1.03 million RMB[45][46]. - The net profit of Nantong Wenfeng Commerce Procurement Wholesale Co., Ltd. decreased by 30.46% to CNY 26,034,393.86 in H1 2022 from CNY 37,438,818.59 in H1 2021[49]. - Nantong Wenfeng Dawang E-commerce Co., Ltd. reported a significant loss of CNY 201,633,184.33 in H1 2022, compared to a minor loss of CNY 11,464.02 in H1 2021[49]. - Shanghai Wenfeng Qianjia Huigou Shopping Center Co., Ltd. experienced a net profit decline of 68.05%, dropping to CNY 11,792,454.23 in H1 2022 from CNY 36,905,526.49 in H1 2021[49]. - The overall economic slowdown and the impact of the pandemic have adversely affected sales performance and gross margins across multiple subsidiaries[50]. Market Challenges - The company faces intensified competition in the retail market, leading to a diversion of sales across its various business formats[50]. - The digital transformation and supply chain upgrades are expected to have a long-term impact on the company's profitability due to high initial investments[54]. - The company reported a significant increase in operating costs, which has negatively affected its profit margins[54]. - The company anticipates ongoing challenges due to the fragmented market and the ongoing effects of the pandemic on consumer behavior[50]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 98,439[79]. - Jiangsu Wenfeng Group Co., Ltd. holds 503,764,567 shares, accounting for 27.26% of the total share capital[81]. - Zheng Su-Zhen holds 275,000,000 shares, representing 14.88% of the total share capital, with all shares frozen[81]. - Zhang Quan reduced his holdings by 36,960,000 shares, decreasing his ownership from 8.12% to 6.12%[83]. - The controlling shareholder, Jiangsu Wenfeng Group, pledged 150,058,689 shares, which is 27.55% of its holdings and 8.12% of the total share capital[82]. - The company has a repurchase program in place, with 24,642,935 shares repurchased, accounting for 1.33% of the total share capital[82]. Accounting and Financial Reporting - The financial statements are prepared based on the actual transactions and events, following the accounting standards issued by the Ministry of Finance[118]. - The company's accounting period runs from January 1 to December 31 each year[122]. - The company confirms that its financial statements comply with the requirements of the accounting standards, reflecting its financial position and operating results accurately[121]. - The company’s accounting policies include revenue recognition, inventory measurement, and fixed asset depreciation methods[120]. - The company has established specific accounting policies for joint ventures and joint operations, recognizing assets and liabilities based on agreements[130]. Environmental and Social Responsibility - The company supports local farmers in Inner Mongolia by promoting water-saving irrigation techniques, specifically for low-water-consuming crops[60]. - The company has implemented multiple energy-saving measures, including electronic office practices and LED lighting, to reduce carbon emissions[61]. Legal and Compliance - The company is involved in a significant lawsuit regarding unpaid rent from a bar company, with a court ruling in favor of the company[65]. - The company has not faced any administrative penalties related to environmental issues in the past three years[58].

Financial Performance - The company's operating revenue for 2021 was CNY 2,473,905,052.33, representing a 5.30% increase compared to CNY 2,349,498,178.25 in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 236,556,002.74, a decrease of 11.82% from CNY 268,266,378.32 in 2020[19]. - The net cash flow from operating activities decreased by 25.87% to CNY 411,308,471.52 in 2021 from CNY 554,834,911.84 in 2020[19]. - The total assets of the company increased by 9.33% to CNY 7,369,965,441.49 at the end of 2021, compared to CNY 6,741,220,036.81 at the end of 2020[19]. - The basic earnings per share for 2021 was CNY 0.13, down 13.33% from CNY 0.15 in 2020[20]. - The weighted average return on equity decreased to 4.88% in 2021 from 5.58% in 2020, a reduction of 0.70 percentage points[20]. - The net profit after deducting non-recurring gains and losses was CNY 219,356,631.99, down 8.97% from CNY 240,975,028.11 in 2020[19]. - The company's net assets attributable to shareholders at the end of 2021 were CNY 4,798,305,208.05, a decrease of 1.54% from CNY 4,873,569,453.30 at the end of 2020[19]. - The company reported a total of RMB 1,639,101,497.73 in undistributed profits, down from RMB 1,693,070,825.92 in 2020, indicating a decrease of about 3.2%[195]. Revenue Breakdown - The company's total revenue for Q1 2021 was RMB 765.95 million, while Q2 and Q3 revenues were RMB 560.55 million and RMB 517.85 million, respectively, with Q4 revenue at RMB 629.56 million[24]. - The revenue from the consignment sales model accounted for 75.78% of the main business sales revenue[34]. - The company achieved a revenue of 2.474 billion RMB in the reporting period, representing a year-on-year increase of 5.30%[37]. - The total revenue for Nantong Wenfeng Commercial Procurement Co., Ltd. in 2021 was approximately CNY 1.71 billion, with a net profit of CNY 62.19 million, representing a year-on-year increase from CNY 1.39 billion and CNY 71.16 million in 2020[82]. - Shanghai Wenfeng Qianjia Hui Shopping Center Co., Ltd. reported a revenue of CNY 427.89 million and a net profit of CNY 65.85 million in 2021, compared to CNY 378.35 million and CNY 61.53 million in 2020, indicating growth in both revenue and profit[82]. - Nantong Wenfeng City Square Shopping Center Co., Ltd. achieved a revenue of CNY 1.48 billion and a net profit of CNY 113.54 million in 2021, up from CNY 1.39 billion and CNY 75.48 million in 2020, reflecting a significant increase in profitability[82]. Cost and Expenses - The total cost for the current period is 1,227,593,331.18 yuan, showing a slight increase of 0.82% compared to the previous year's total cost of 1,217,550,691.21 yuan[2]. - The total operating costs for 2021 were ¥2,184,281,706.93, up from ¥2,057,446,510.95 in 2020, reflecting a year-over-year increase of 6.2%[200]. - The company reported a significant increase in financial expenses, up 262.89% year-on-year, primarily due to increased interest expenses[40]. Assets and Liabilities - Total liabilities reached RMB 2,583,591,727.74, compared to RMB 1,878,555,534.21 in 2020, marking an increase of around 37.4%[194]. - The company's equity attributable to shareholders was RMB 4,798,305,208.05, slightly down from RMB 4,873,569,453.30 in the previous year, showing a decrease of about 1.5%[195]. - The company's short-term borrowings stood at RMB 360,397,680.55, with no previous year data available for comparison[194]. Operational Strategies - The company is focusing on supply chain optimization and introducing competitive brands to enhance profit margins in the supermarket sector[29]. - The company is enhancing its digital transformation by integrating online and offline channels, aiming to create a comprehensive platform for consumer engagement[31]. - The company is actively adjusting its operational strategies to cope with market challenges, including optimizing rental models and providing tailored support to merchants[30]. - The company is focusing on integrating online and offline sales channels to adapt to changing consumer preferences towards online shopping[56]. Market and Industry Trends - The overall retail industry is under pressure due to the economic environment and pandemic effects, leading to a focus on cost reduction and efficiency improvements[87]. - The competitive landscape in the retail sector is intensifying, with an oversupply of shopping centers and increased pressure from membership-based supermarkets[86]. Corporate Governance and Management - The company has a strong management team with various experienced individuals in key positions, including financial oversight by Tang Ping as Chief Financial Officer since March 20, 2019[106]. - The company emphasizes its commitment to corporate governance with independent directors like Yan Jun and Liu Sipei serving since September 2017[106]. - The company reported a total of 1,203.58 million yuan in pre-tax compensation for its board members and senior management during the reporting period[100]. Employee Engagement and Welfare - The total number of employees across the parent company and major subsidiaries is 3,358, with 2,268 in sales, 118 in technical roles, 159 in finance, and 813 in administration[121]. - The company organized health check-ups for 1,013 employees, identifying several health issues requiring timely treatment[139]. - The company has a medical mutual assistance reimbursement program that assisted 443 employees with a total reimbursement amount of 1.3274 million RMB[137]. Environmental and Social Responsibility - The company donated 1.5 million RMB to the Beijing Entrepreneurs Environmental Protection Foundation for environmental public welfare projects[136]. - The company has implemented various energy-saving measures, such as promoting paperless offices and using LED lighting[135]. - The company supports water-saving agricultural projects, promoting low-water-consuming crops in desert areas[134]. Future Plans and Outlook - The company plans to enhance product and service quality in 2022, aiming for continuous brand updates and improved customer satisfaction[91]. - The company plans to enhance member services and benefits, aiming to maximize member engagement and satisfaction[91]. - The company is investing heavily in digital transformation and supply chain upgrades, which may lead to increased operational costs and longer payback periods[93].

Financial Performance - The company's operating revenue for Q1 2022 was ¥698,812,351.25, representing a decrease of 8.76% compared to the same period last year[4] - The net profit attributable to shareholders was -¥24,016,758.60, a decline of 128.50% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥60,346,571.68, down 31.69% from the previous year[4] - The company's net profit significantly declined due to the impact of the pandemic and ongoing operational costs, including employee salaries and rent[13] - Net profit for Q1 2022 was -¥24,808,562.59, compared to a net profit of ¥84,149,266.06 in Q1 2021, representing a significant decline[19] - Operating profit for Q1 2022 was -¥16,930,353.13, a decrease from ¥111,999,968.15 in Q1 2021[18] - The company reported an investment loss of -¥76,046,813.55 in Q1 2022, contrasting with a gain of ¥5,605,951.58 in Q1 2021[18] - Basic and diluted earnings per share for Q1 2022 were both -¥0.01, compared to ¥0.05 in Q1 2021[19] Cash Flow and Liquidity - The net cash flow from operating activities increased by 39.13% to ¥78,010,120.84[4] - In Q1 2022, the company reported cash inflows from operating activities of CNY 1,059,421,831.59, a decrease of 0.8% compared to CNY 1,068,955,921.13 in Q1 2021[21] - The net cash flow from operating activities was CNY 78,010,120.84, down 39.2% from CNY 128,150,663.12 in the same period last year[21] - Cash inflows from investment activities totaled CNY 837,470,567.64, a significant decrease of 43.1% compared to CNY 1,471,087,191.31 in Q1 2021[22] - The net cash flow from investment activities was CNY 98,070,480.04, recovering from a negative cash flow of CNY -55,197,655.91 in Q1 2021[22] - Cash inflows from financing activities amounted to CNY 120,000,000.00, an increase of 50% from CNY 80,000,000.00 in Q1 2021[22] - The net cash flow from financing activities was CNY -3,804,216.56, a decline compared to CNY 69,701,503.71 in the previous year[22] - The total cash and cash equivalents at the end of Q1 2022 reached CNY 580,487,062.10, up from CNY 446,188,017.80 at the end of Q1 2021[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,335,329,108.84, a decrease of 0.47% from the end of the previous year[4] - The total assets as of Q1 2022 were ¥7,335,329,108.84, slightly down from ¥7,369,965,441.49 in Q1 2021[16] - The company's total liabilities as of Q1 2022 amounted to ¥2,607,765,487.68, slightly up from ¥2,583,591,727.74 in Q1 2021[16] - The company's total liabilities increased, with short-term borrowings rising to RMB 410,397,680.55 from RMB 360,397,680.55[15] - The total equity attributable to shareholders was ¥4,740,286,919.45 in Q1 2022, down from ¥4,798,305,208.05 in Q1 2021[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 99,455[8] - The largest shareholder, Jiangsu Wenfeng Group Co., Ltd., held 29.48% of the shares[8] Operational Challenges and Responses - The company's operating revenue decreased by 8.76% compared to the same period last year due to the ongoing impact of COVID-19, resulting in a significant decline in foot traffic and temporary store closures[11] - The company experienced a significant increase in accounts receivable, up 96.97% year-on-year, primarily from group purchases in department stores and electronics[5] - The company implemented measures to support small merchants, including rent waivers and early payment of goods, to alleviate financial pressures during the pandemic[11] - The company is actively monitoring the ongoing risks associated with the pandemic and its impact on market conditions[11] - The company launched the "Wenfeng Cloud Purchase" e-commerce platform to enhance online sales and improve competitiveness during the pandemic[11] Inventory and Expenses - The company's inventory remained relatively stable, with a slight decrease from RMB 423,420,054.66 to RMB 422,412,892.91[14] - The company spent CNY 664,459,504.30 on purchasing goods and services, an increase of 7.7% from CNY 616,616,801.50 in Q1 2021[21] - The company’s cash outflows for operating activities totaled CNY 981,411,710.75, an increase of 4.3% compared to CNY 940,805,258.01 in Q1 2021[21] - The financial expenses for Q1 2022 were ¥11,783,553.90, an increase from ¥9,100,245.98 in Q1 2021[18]

Financial Performance - The company's operating revenue for Q3 2021 was ¥517,846,478.31, a decrease of 4.52% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥34,731,961.88, a decline of 179.92% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥3,324,958.29, down 93.44% from the previous year[2]. - The basic earnings per share for the period was -¥0.0188, a decrease of 180.00% compared to the same period last year[2]. - The company's total revenue for the first three quarters of 2021 was CNY 1,844,343,835.74, a 13.4% increase from CNY 1,626,565,006.33 in the same period of 2020[16]. - Operating profit for the first three quarters of 2021 reached CNY 253,008,393.36, up from CNY 181,063,330.82 in the previous year, reflecting a growth of approximately 39.7%[16]. - The company's net profit for the first three quarters of 2021 was CNY 195,502,990.12 after tax expenses, compared to CNY 155,650,260.41 in the same period of 2020, marking an increase of about 25.6%[16]. - The net profit for Q3 2021 was approximately ¥195.50 million, an increase of 25.67% compared to ¥155.65 million in Q3 2020[17]. - The net profit attributable to shareholders of the parent company was approximately ¥196.10 million, up from ¥156.04 million, reflecting a growth of 25.67% year-over-year[17]. - The basic and diluted earnings per share for Q3 2021 were both ¥0.11, compared to ¥0.08 in the same period last year, representing a 37.5% increase[17]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,495,178,697.77, an increase of 11.18% from the end of the previous year[2]. - The equity attributable to shareholders decreased by 2.38% to ¥4,757,431,115.69 compared to the end of the previous year[2]. - Total assets increased to CNY 7,495,178,697.77 as of September 30, 2021, up from CNY 6,741,220,036.81 at the end of 2020, representing a growth of approximately 11.2%[12]. - Total liabilities rose to CNY 2,749,246,031.09 as of September 30, 2021, compared to CNY 1,878,555,534.21 at the end of 2020, indicating an increase of about 46.3%[13]. - Total assets decreased to $6,741,220,036.81 from $6,962,249,285.67, a reduction of $221,029,248.86[25]. - Total liabilities decreased to $1,878,555,534.21 from $2,099,584,783.07, a reduction of $221,029,248.86[25]. - Non-current liabilities decreased significantly from $233,849,343.40 to $58,132,933.85, a decrease of $175,716,409.55[25]. - Total equity remained stable at $4,862,664,502.60, with no changes reported in the capital structure[25]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥276,172,729.94, a decrease of 17.86% compared to the previous year[2]. - Cash inflows from operating activities for the first three quarters of 2021 totaled approximately ¥2.63 billion, an increase of 16.06% from ¥2.27 billion in the same period of 2020[19]. - The net cash flow from operating activities for the first three quarters of 2021 was approximately ¥276.17 million, a decrease of 17.88% compared to ¥336.22 million in the previous year[19]. - Cash inflows from investment activities amounted to approximately ¥3.44 billion, compared to ¥2.91 billion in the same period last year, indicating a growth of 18.14%[20]. - The net cash flow from investment activities was negative at approximately -¥12.32 million, an improvement from -¥109.75 million in the previous year[20]. - Cash and cash equivalents at the end of Q3 2021 were approximately ¥601.78 million, a significant increase from ¥366.30 million at the end of Q3 2020, reflecting a growth of 64.19%[20]. - The company reported a total cash inflow from financing activities of approximately ¥595 million, compared to ¥200 million in the same period last year, marking a 197.5% increase[20]. Share Repurchase and Employee Engagement - As of September 30, 2021, the company repurchased a total of 13,985,635 shares, accounting for 0.7568% of the total share capital[9]. - The company plans to utilize repurchased shares for employee stock ownership plans, enhancing employee engagement and retention[9]. Changes in Accounting Standards - The company has implemented new leasing standards starting from 2021, which may impact future financial reporting and asset valuations[22]. - The company adopted new leasing standards effective January 1, 2021, impacting various financial statement items without adjusting comparative period information[25].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,326,497,357.43, representing a 22.35% increase compared to CNY 1,084,205,775.73 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2021 was CNY 230,828,450.31, a significant increase of 105.03% from CNY 112,581,253.79 in the previous year[21]. - The net cash flow from operating activities reached CNY 122,163,238.81, marking a substantial increase of 248.58% compared to CNY 35,045,997.83 in the same period last year[21]. - The basic earnings per share for the first half of 2021 was CNY 0.1249, up 105.09% from CNY 0.0609 in the same period last year[22]. - The company achieved a weighted average return on equity of 4.63% for the first half of 2021, compared to 2.35% in the same period last year, indicating improved profitability[22]. - The increase in net profit was primarily due to significant gains from fair value changes related to the company's investment in Tianfeng Securities, which contributed to the overall financial performance[22]. - The company reported a total non-operating income of CNY 80,180,452.07 for the first half of 2021, with significant contributions from government subsidies and other non-operating gains[26]. - The company achieved a year-on-year sales increase of 37.16% in its 10 department stores, indicating a strong recovery in offline sales[34]. - The company reported a significant decrease of 95.50% in other income, totaling CNY 1,816,871.73, primarily due to reduced government subsidies[46]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 7,093,471,782.27, reflecting a 5.23% increase from CNY 6,741,220,036.81 at the end of the previous year[21]. - The company's net assets attributable to shareholders at the end of the reporting period were CNY 4,836,941,162.39, a slight decrease of 0.75% from CNY 4,873,569,453.30 at the end of the previous year[21]. - The company's total liabilities increased to CNY 55,773,077.83, reflecting the new leasing standards implemented[46]. - The total amount of guarantees provided by the company to its subsidiaries during the reporting period was ¥39,846,500, with a remaining balance of ¥35,031,500 at the end of the reporting period[80]. - The total guarantee amount, including guarantees to subsidiaries, is ¥35,031,500, which accounts for 0.72% of the company's net assets[81]. Operational Highlights - The company's main business includes chain operations of department stores, supermarkets, and electrical appliance sales, primarily located in Jiangsu Province and Shanghai[28]. - In the first half of 2021, the revenue from the consignment model accounted for 77.75% of the main business sales revenue, with department stores achieving 91.73% of their sales through this model[28]. - The shopping center segment saw significant growth in both performance and foot traffic, driven by optimized management practices[34]. - The company utilized a "Five-Step Management Method" to enhance operational capabilities and profitability during the reporting period[34]. - The company is actively expanding its "Thousand Family Convenience" chain supermarkets and enhancing online and offline marketing activities[35]. Investments and Acquisitions - The company participated in a private placement of Tianfeng Securities, acquiring 122,249,388 shares, which significantly contributed to the increase in fair value gains[41]. - The company completed the acquisition of Zhangjiagang Haolin Distribution Co., Ltd. for ¥16,000,000, with a net profit contribution of ¥1,095,110.32[57]. Challenges and Risks - The company anticipates challenges due to ongoing economic slowdown affecting consumer confidence and retail market performance[60]. - Increased competition in the regional market is expected to impact sales across various business formats[60]. - The company is facing rising operational costs and a lack of revenue growth, which may affect profitability levels[60]. Corporate Governance and Legal Matters - There were significant changes in management, with the appointment of a new general manager and other executive positions[64]. - The company has been involved in a significant lawsuit regarding unpaid rent from a bar company, with a court ruling in favor of the company[75]. - The company is involved in a civil lawsuit regarding the cancellation of Suzhou Oriental Pearl Company, with the case currently under review by the Suzhou Intermediate People's Court[76]. Accounting Policies and Standards - The company has adopted new leasing standards effective January 1, 2021, adjusting relevant financial statement items accordingly[83]. - The company recognizes revenue based on actual production and operational characteristics, including methods for measuring inventory and fixed assets[128]. - The company applies fair value measurement for identifiable assets and liabilities in business combinations under non-common control[136]. - The company uses the effective interest method for subsequent measurement of other financial liabilities[147]. - The company recognizes gains or losses from financial instruments classified as financial liabilities in the current profit or loss[150]. Social Responsibility - The company has invested over 3 million yuan in consumption poverty alleviation projects since 2019, supporting the purchase of various agricultural products from western regions[71]. - The company actively promotes water-saving agricultural practices by supporting local farmers in Inner Mongolia to grow low-water-consuming millet instead of high-water-consuming corn[70]. - The company has established a consumption poverty alleviation zone in its supermarkets to facilitate supply-demand matching and promote a virtuous cycle of consumption poverty alleviation[71].

Financial Performance - Operating revenue for the first quarter reached CNY 765,946,826.21, a significant increase of 55.00% year-on-year[6] - Net profit attributable to shareholders surged by 276.28% to CNY 84,277,094.56 compared to the same period last year[6] - Basic and diluted earnings per share rose by 283.33% to CNY 0.046 per share[6] - The company's operating revenue for Q1 2021 reached RMB 765,946,826.21, a 55.00% increase compared to RMB 494,153,172.11 in Q1 2020, primarily due to recovery from the pandemic's impact[14] - Net profit attributable to the parent company for Q1 2021 was RMB 84,277,094.56, representing a significant increase of 276.28% from RMB 22,397,192.80 in the same period last year[14] - Total operating revenue for Q1 2021 reached ¥765,946,826.21, a 55% increase compared to ¥494,153,172.11 in Q1 2020[24] - Net profit for Q1 2021 was ¥84,149,266.06, significantly higher than ¥22,141,536.42 in Q1 2020, marking a 279% increase[25] - The company reported a total profit of ¥104,602,123.50 for Q1 2021, up from ¥33,563,961.98 in Q1 2020, a growth of 211%[25] Cash Flow - Cash flow from operating activities improved significantly, amounting to CNY 128,150,663.12, a turnaround from a negative cash flow of CNY -211,662,230.35 in the previous year[6] - Total cash inflow from operating activities for Q1 2021 was CNY 1,068,955,921.13, an increase of 45.2% compared to CNY 736,021,161.74 in Q1 2020[27] - Net cash flow from operating activities was CNY 128,150,663.12, a significant recovery from a negative CNY 211,662,230.35 in the same period last year[27] - Cash inflow from investment activities totaled CNY 1,471,087,191.31, up 43.4% from CNY 1,026,259,889.43 in Q1 2020[29] - Cash inflow from financing activities was CNY 80,000,000.00, down 60% from CNY 200,000,000.00 in Q1 2020[29] - Net cash flow from financing activities increased to CNY 69,701,503.71, compared to CNY 49,628,839.62 in the same period last year[29] Assets and Liabilities - Total assets increased by 5.27% to CNY 7,096,213,121.61 compared to the end of the previous year[6] - The company's total monetary funds increased by 48.68% to RMB 482,783,017.80 as of March 31, 2021, compared to RMB 324,723,506.88 at the end of 2020[13] - Total liabilities increased to RMB 2,149,158,999.90 from RMB 1,878,555,534.21, marking a rise of about 14.4%[19] - The company's equity attributable to shareholders rose to RMB 4,958,086,900.91, compared to RMB 4,873,569,453.30, an increase of approximately 1.7%[19] - Total current liabilities amounted to RMB 1,911,255,652.72, up from RMB 1,820,422,600.36, representing an increase of about 5.1%[19] - Total liabilities as of the end of Q1 2021 amounted to ¥1,023,352,621.18, an increase from ¥828,645,264.16 at the end of Q1 2020[22] - Total assets amounted to ¥6,741,220,036.81, a decrease of ¥221,029,248.86 compared to the previous period[34] - Current assets totaled ¥2,012,477,803.02, reflecting a decrease of ¥1,697,993.59[34] - Non-current assets were reported at ¥4,728,742,233.79, showing an increase of ¥222,727,242.45[34] Shareholder Information - The company reported a total of 108,003 shareholders at the end of the reporting period[10] - Jiangsu Wenfeng Group Co., Ltd. holds the largest share with 29.48% of total shares outstanding[10] Other Financial Metrics - The weighted average return on equity increased by 1.24 percentage points to 1.71%[6] - The company's financial expenses surged by 194.81% to RMB 9,100,245.98, largely due to the amortization of lease liabilities and increased bank fees[14] - The company’s other income increased significantly by 812.59% to RMB 840,621.84, driven by government subsidies and tax refunds[14] - The company’s investment income decreased by 34.00% to RMB 5,605,951.58, reflecting lower returns from financial investments compared to the previous year[14] - The company reported a long-term investment of RMB 236,191,990.16, unchanged from the previous period[18] - The company has retained earnings of ¥2,060,907,711.82, indicating profitability over time[38]