2020 年第三季度报告 公司代码：601116 公司简称：三江购物 三江购物俱乐部股份有限公司 2020 年第三季度报告 1 / 25 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 9 | 2020 年第三季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人陈念慈、主管会计工作负责人庄海燕及会计机构负责人（会计主管人员）傅艳波 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | 项目 | 本期金额 | 年初至报告期末 | | 说明 | | --- | --- | --- | --- | --- | | | （7－9 月） | 金额（1-9 | 月） | | | 非流动资产处置损益 ...

Financial Performance - The company's operating revenue for the first half of 2020 was approximately RMB 2.35 billion, representing an increase of 11.94% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 24.67% to approximately RMB 84.51 million[19]. - The company reported a basic earnings per share of RMB 0.1543, down 24.66% from the previous year[20]. - The weighted average return on net assets decreased by 0.91 percentage points to 2.65%[20]. - The company reported a net profit of ¥84,506,164.97, a decrease of 24.73% from ¥112,183,989.68 in the first half of 2019[96]. - Operating profit for the first half of 2020 was ¥112,636,792.72, a decline of 19.96% compared to ¥140,722,055.12 in the first half of 2019[96]. - Total operating revenue for the first half of 2020 reached ¥2,345,094,758.98, an increase of 11.93% compared to ¥2,094,974,118.24 in the same period of 2019[95]. Cash Flow and Assets - The net cash flow from operating activities increased by 33.66% to approximately RMB 43.79 million[19]. - Cash inflow from sales of goods and services for the first half of 2020 was CNY 2,478,374,362.34, an increase of 8.9% compared to CNY 2,275,802,471.22 in the first half of 2019[101]. - Cash and cash equivalents were reported at RMB 2,559,086,413.47, down from RMB 2,660,054,596.80, indicating a decrease of about 3.79%[88]. - The total current assets as of June 30, 2020, amounted to RMB 3,134,724,230.39, a decrease from RMB 3,292,124,549.25 at the end of 2019, representing a decline of approximately 4.78%[88]. - The total assets as of June 30, 2020, amounted to CNY 4,398,643,362.18, a decrease from CNY 4,553,410,861.94 at the end of 2019[90]. Strategic Initiatives - The company aims to enhance supply chain efficiency and upgrade existing stores as part of its strategic goal for new retail community fresh supermarkets[24]. - The company initiated organizational changes to adapt to the VUCA environment, focusing on market-oriented ecological organization development[29]. - The company established long-term partnerships with key suppliers, enhancing supply chain stability[26]. - The company plans to continue purchasing goods from key poverty alleviation counties as part of its ongoing commitment to social responsibility[70]. Market and Sales Performance - The retail sales of essential goods in Zhejiang province increased by 17.8% during the first half of 2020, indicating a recovery in consumer demand[25]. - Online retail in Zhejiang province reached RMB 876.4 billion, growing by 9.8% year-on-year[25]. - The food and fresh produce segments saw significant revenue increases of 22.71% and 45.18% respectively, driven by heightened demand during the pandemic[37]. - Revenue from the Ningbo region was ¥2,011,265,974.46, with a growth of 21.52%, while revenue from other areas in Zhejiang decreased by 27.12% to ¥248,645,992.37[39]. Related Party Transactions and Governance - The company reported a commitment to conduct related transactions based on fairness and legality, ensuring compliance with relevant regulations and procedures[51]. - The actual controller, Chen Nianzi, committed to not transferring more than 25% of his shares annually while serving as a director or senior management[51]. - The company has pledged to avoid any direct or indirect competition with its subsidiaries, ensuring that business opportunities are offered to the company[53]. - The company confirmed that there are no related transactions with the actual controller as of the date of the commitment letter[53]. Employee Stock Ownership Plans (ESOP) - The first employee stock ownership plan (ESOP) was established in April 2016, with a total purchase of 3,216,900 shares at an average price of RMB 10.88 per share, totaling RMB 34.99 million[58]. - The second ESOP was approved in April 2018, raising a maximum of RMB 6 million, with 346,700 shares purchased at an average price of RMB 15.532 per share, totaling RMB 5.38 million[60]. - The third ESOP was approved in April 2019, with a maximum fundraising limit of RMB 7.5 million, purchasing 511,900 shares at an average price of RMB 12.8485 per share, totaling RMB 6.58 million[61]. - The fourth ESOP was approved in April 2020, with a maximum fundraising limit of RMB 12 million, purchasing 760,900 shares at a total cost of RMB 10.86 million[62]. Accounting Policies and Financial Reporting - The company has not made any changes to its accounting policies during the reporting period, maintaining consistency in financial reporting[115]. - The company implemented the revised revenue recognition standards effective from January 1, 2020, aligning with the Ministry of Finance's requirements[115]. - The financial statements are prepared based on the going concern assumption, indicating the company's ability to continue operations in the foreseeable future[116]. - The group recognizes revenue when the customer obtains control of the related goods or services, which occurs at a specific point in time[163].

Financial Performance - Net profit attributable to shareholders increased by 40.18% to CNY 75,440,900.27 year-on-year[6] - Operating revenue rose by 18.80% to CNY 1,357,267,925.59 compared to the same period last year[6] - The weighted average return on equity increased by 0.6416 percentage points to 2.3536%[6] - Other income increased by 43.26% to CNY 8,190,193.20, mainly due to an increase in government subsidies[15] - Total operating revenue for Q1 2020 reached ¥1,357,267,925.59, an increase of 18.8% compared to ¥1,142,482,928.84 in Q1 2019[32] - Net profit for Q1 2020 was ¥75,440,900.27, representing a 40.3% increase from ¥53,818,668.98 in Q1 2019[33] - Basic and diluted earnings per share for Q1 2020 were CNY 0.1377, compared to CNY 0.0983 in Q1 2019, reflecting a 40% increase[34] - The total comprehensive income for Q1 2020 was CNY 75,440,900.27, compared to CNY 53,818,668.98 in Q1 2019, indicating a 40% growth[34] Cash Flow and Investments - The net cash flow from operating activities increased by 9.41% to CNY 174,490,532.52 year-on-year[6] - Cash flow from operating activities for Q1 2020 was CNY 174,490,532.52, an increase from CNY 159,476,012.40 in Q1 2019[39] - The company reported a net cash outflow from investing activities of CNY 22,938,519.29 in Q1 2020, compared to a net inflow of CNY 2,783,363.35 in Q1 2019[40] - The net increase in cash and cash equivalents for Q1 2020 was CNY 157,177,967.98, down 16.4% from CNY 187,962,302.11 in Q1 2019[43] Assets and Liabilities - Total assets increased by 2.03% to CNY 4,646,013,590.85 compared to the end of the previous year[6] - Total assets as of March 31, 2020, amounted to ¥4,667,610,418.14, compared to ¥4,489,265,865.75 at the end of 2019, indicating a growth of 4.0%[29] - Total liabilities as of March 31, 2020, were ¥1,479,741,879.88, an increase from ¥1,358,175,566.32 at the end of 2019, marking an increase of 8.9%[29] - Total current liabilities were RMB 1.40 billion as of March 31, 2020, slightly up from RMB 1.38 billion at the end of 2019[24] - Total current liabilities were RMB 1,352,114,377.99 in the first quarter of 2020[51] Inventory and Receivables - The company's inventory decreased to RMB 326.73 million as of March 31, 2020, from RMB 436.98 million as of December 31, 2019[23] - Inventory decreased to ¥207,478,890.96 as of March 31, 2020, down from ¥224,130,649.66 at the end of 2019, a decline of 7.4%[28] - The balance of other receivables increased by 32.77% to CNY 123,580,351.24 compared to the end of the previous year[15] - Accounts receivable totaled RMB 229,287,565.21 as of December 31, 2019[49] Employee Stock Ownership Plan (ESOP) - The company implemented its first employee stock ownership plan during the reporting period, involving 15 participants[16] - The first employee stock ownership plan (ESOP) was initiated with a total purchase of 3,216,900 shares at an average price of RMB 10.88 per share, totaling RMB 34.99 million[17] - The company extended the first ESOP's duration by 24 months, now set to expire on September 8, 2021, reflecting confidence in future growth[18] - The second ESOP raised a maximum of RMB 6 million, purchasing 346,700 shares at an average price of RMB 15.532 per share, totaling RMB 5.38 million[19] - The third ESOP raised a maximum of RMB 7.5 million, acquiring 511,900 shares at an average price of RMB 12.8485 per share, totaling RMB 6.58 million[20] Changes in Accounting and Financial Reporting - The company reclassified the balance of stored value cards from advance receipts to contract liabilities, impacting the financial statements[12] - The company reclassified prepaid card balances previously classified as advance receipts to contract liabilities under the new revenue recognition standards[48] - The company reclassified prepaid card balances from current liabilities to contract liabilities due to the new revenue recognition standards[52] Financial Ratios and Metrics - The company's cash and cash equivalents stood at RMB 2.81 billion as of March 31, 2020, compared to RMB 2.66 billion at the end of 2019[23] - Cash and cash equivalents increased to ¥2,641,765,234.42 as of March 31, 2020, up from ¥2,484,399,030.92 at the end of 2019, a rise of 6.3%[27] - The company's sales expenses increased to CNY 174,887,012.40 in Q1 2020 from CNY 138,823,126.76 in Q1 2019, a rise of 26%[35] - The financial expenses for Q1 2020 were reported as CNY -23,892,583.42, slightly higher than CNY -23,497,006.37 in Q1 2019[35] - The company experienced a fair value loss of CNY -2,110,558.32 in Q1 2020, contrasting with a gain of CNY 2,081,532.96 in Q1 2019[36]

Financial Performance - The total revenue for 2019 was approximately RMB 3.98 billion, a decrease of 3.74% compared to RMB 4.13 billion in 2018[22]. - The net profit attributable to shareholders for 2019 was RMB 160.50 million, representing a 43.80% increase from RMB 111.61 million in 2018[22]. - The basic earnings per share for 2019 was RMB 0.2931, up 19.83% from RMB 0.2446 in 2018[20]. - The net profit after deducting non-recurring gains and losses was RMB 106.98 million, a 13.50% increase from RMB 94.25 million in 2018[22]. - The company reported a total operating revenue for 2019 of approximately CNY 3.98 billion, a decrease of 3.75% from CNY 4.13 billion in 2018[189]. - The net profit for 2019 reached approximately CNY 160.50 million, an increase of 43.73% compared to CNY 111.61 million in 2018[190]. - Basic and diluted earnings per share for 2019 were both CNY 0.29, up from CNY 0.24 in 2018, representing a growth of 20.83%[191]. - The total profit for 2019 was CNY 150,698,816.45, up from CNY 147,088,040.92 in 2018, representing an increase of approximately 4.5%[192]. Cash Flow and Investments - The net cash flow from operating activities decreased by 75.22% to RMB 79.45 million in 2019, down from RMB 320.65 million in 2018[22]. - The company’s cash flow from operating activities was ¥0.79 billion, a decrease of 75.22% compared to the previous year[48]. - The net cash flow from investing activities was negative at CNY -23,286,176.02, an improvement from CNY -72,500,699.34 in 2018[195]. - The net cash flow from financing activities was CNY -109,535,680.00, a significant decrease compared to CNY 1,368,495,154.09 in 2018[195]. - The company reported a total cash inflow from operating activities of CNY 4,748,791,887.46, down from CNY 4,968,613,161.16 in the previous year, a decrease of approximately 4.4%[194]. - The company received 66,828,080.76 from other investment-related cash inflows, significantly higher than 23,344,489.57 from the previous year, marking an increase of 186.5%[198]. Assets and Liabilities - The total assets at the end of 2019 were RMB 4.55 billion, an increase of 2.59% from RMB 4.44 billion at the end of 2018[22]. - Total liabilities amounted to CNY 1,385,762,395.49, an increase of 4.9% from CNY 1,321,584,025.43 in 2018[183]. - Shareholders' equity reached CNY 3,167,648,466.45, up from CNY 3,116,686,558.86, reflecting a growth of 1.6%[183]. - Current assets totaled CNY 3,292,124,549.25, an increase of 3.0% from CNY 3,195,756,261.98 in the previous year[181]. - Inventory increased significantly to CNY 436,979,889.45, a rise of 34.2% compared to CNY 325,568,035.33 in the previous year[181]. Operational Efficiency - The company expanded its store network to 207 locations in Zhejiang province, with a high membership base of 930,000 loyal customers[30]. - The company successfully transformed 46 stores into new retail formats, with 15 stores meeting the new retail 1.0 standards[34]. - The company implemented a digital management system, enhancing inventory management and customer insights through various technological upgrades[35]. - The company has established a stable supply chain and long-term partnerships with key suppliers, enhancing its competitive edge in the market[30]. - The company has plans to continue expanding its store network, having opened an additional 5 stores post-reporting period[55]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 109.54 million[4]. - The company distributed dividends and interest payments totaling 109,535,680.00, compared to 82,655,105.00 in the previous year, representing a rise of 32.5%[198]. Governance and Compliance - The company committed to strictly adhere to laws and regulations regarding related party transactions, ensuring fairness and compliance in all dealings[87]. - The company guarantees that it will not engage in any business activities that directly or indirectly compete with its subsidiaries[89]. - The company has established a commitment to avoid conflicts of interest in its operations and transactions[89]. - The company has maintained compliance with the latest regulations set forth by the China Securities Regulatory Commission[92]. - The company has a strategic focus on expanding its technology capabilities and enhancing its e-commerce platform services[131]. Employee and Management - The total number of employees in the parent company is 3,391, while the total number of employees in major subsidiaries is 1,310, resulting in a combined total of 4,701 employees[144]. - The total remuneration for the board members and senior management during the reporting period amounted to RMB 7,849,000, with the highest individual compensation being RMB 1,589,700 for the president[135]. - The company has implemented a performance-based annual target assessment system for the remuneration of directors, supervisors, and senior management[141]. - The company has established a training base, Sanjiang University, to develop training plans based on business needs, including new employee training and management trainee programs[146]. Market Challenges - The retail industry is facing challenges due to economic slowdown and increased competition, which may impact the company's performance and growth strategies[81]. - The retail industry in China is facing intense competition, particularly from the rapid growth of online retail, negatively impacting sales at certain stores of Sanjiang Shopping Company[171]. - Management has identified potential impairment risks for long-term assets at some stores, which may not recover future cash flows through continued operations or asset sales[171].

Financial Performance - Net profit attributable to shareholders increased by 70.92% to CNY 136,636,583.38 for the year-to-date period[6] - Revenue for the year-to-date period decreased by 2.12% to CNY 3,075,163,421.43 compared to the previous year[6] - Basic earnings per share increased by 32.92% to CNY 0.2495 compared to the same period last year[6] - Operating income increased by 205.88% year-on-year, mainly due to an increase in rental compensation received[14] - The company reported a gross profit margin of approximately 3.1% for Q3 2019, compared to 2.8% in Q3 2018[34] - The company achieved a profit before tax of ¥32,677,750.77 in Q3 2019, a slight increase from ¥32,132,851.13 in Q3 2018[35] - The net profit for Q3 2019 reached ¥24,452,593.70, an increase of 6.3% from ¥23,005,493.50 in Q3 2018[35] - The total profit for Q3 2019 was ¥21.83 million, compared to ¥7.53 million in Q3 2018, marking an increase of approximately 189.5%[39] Asset and Liability Changes - Total assets increased by 1.38% to CNY 4,499,509,862.21 compared to the end of the previous year[6] - Accounts receivable increased by 370.86% to CNY 29,736,105.78 compared to the end of the previous year[11] - Total liabilities were reported at ¥1,355,722,399.97, up from ¥1,321,584,025.43, marking an increase of approximately 2.6%[29] - The company's equity attributable to shareholders rose to ¥3,143,787,462.24 from ¥3,116,686,558.86, indicating a growth of about 0.9%[29] - Total liabilities amounted to approximately $1.11 billion[55] - Total equity reached approximately $3.13 billion, with retained earnings of approximately $466.33 million[55] Cash Flow and Investment - Operating cash flow decreased by 48.49% to CNY 148,563,039.22 compared to the same period last year[6] - Cash received from operating activities increased by 47.44% year-on-year, attributed to service fees from the transfer of the subsidiary and increased rental income[15] - Cash received from the disposal of fixed assets, intangible assets, and other long-term assets increased by 629.96% year-on-year, due to accelerated store renovations[16] - Cash dividends and interest payments increased by 32.52% year-on-year, reflecting higher cash dividend payments[17] - The net cash flow from operating activities for Q3 2019 was ¥148,563,039.22, a decrease of 48.5% compared to ¥288,411,278.82 in Q3 2018[44] - The net cash flow from investing activities for Q3 2019 was ¥29,911,893.85, compared to a negative cash flow of ¥50,632,944.41 in Q3 2018[44] Other Financial Metrics - Financial expenses increased by 297.13% to CNY -75,199,915.42 compared to the same period last year[13] - Asset impairment losses increased by 2725.36% compared to the same period last year, mainly due to an increase in bad debt provisions[14] - Other income rose by 31.56% compared to the previous year, primarily due to an increase in government subsidies received[14] - The company reported a decrease in cash flow from operating activities, with ¥3.34 billion in the first three quarters of 2019, down from ¥3.47 billion in the same period of 2018[43] - The company incurred sales expenses of ¥153.72 million in Q3 2019, up from ¥135.36 million in Q3 2018[39] Strategic Initiatives - The company plans to explore new market expansion strategies to enhance revenue growth in the upcoming quarters[34] - The company implemented the first phase of the employee stock ownership plan, involving 15 participants, with a total purchase amount of approximately RMB 34.99 million[19]

Financial Performance - The company's operating revenue for the first half of 2019 was RMB 2,094,974,118.24, representing a year-on-year increase of 0.87% compared to RMB 2,076,978,301.76 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached RMB 112,183,989.68, a significant increase of 97.04% from RMB 56,935,802.25 in the previous year[20]. - The company reported a basic earnings per share of RMB 0.2048, an increase of 47.76% compared to RMB 0.1386 in the same period last year[21]. - The company's total profit for the first half of 2019 was CNY 141,145,347.03, an increase from CNY 78,229,842.67 in the previous year, marking a growth of approximately 80.3%[102]. - The total comprehensive income attributable to the parent company's owners for the first half of 2019 was CNY 112,183,989.68, compared to CNY 56,463,103.53 in the previous year, indicating a growth of approximately 98.7%[103]. Cash Flow and Assets - The net cash flow from operating activities was RMB 32,758,637.47, showing a decrease of 80.77% compared to RMB 170,344,938.15 in the same period last year[20]. - The total assets at the end of the reporting period were RMB 4,331,085,589.75, down 2.42% from RMB 4,438,270,584.29 at the end of the previous year[20]. - Cash and cash equivalents were reported at RMB 2,659,757,869.75, a slight decrease from RMB 2,711,051,609.10 at the end of 2018, representing a decline of approximately 1.9%[93]. - The company's inventory decreased to RMB 247,298,855.58 from RMB 325,568,035.33, showing a significant reduction of about 24%[93]. - The ending balance of cash and cash equivalents was CNY 2,559,757,869.75, up from CNY 1,034,978,280.30 at the end of the first half of 2018[108]. Business Operations - The company operates community fresh supermarkets, with a focus on fresh products and daily consumer goods, catering to local community needs[24]. - Fresh food sales increased by 8.76% year-on-year, driven by the company's expansion in fresh food operations and improvements in shopping environment[35]. - The company opened 6 new stores and closed 4 stores, with a total of 202 stores in operation by the end of the reporting period[33]. - The company has been focusing on transforming from traditional community supermarkets to new retail community fresh supermarkets since 2019[27]. - The company completed the transfer of 100% equity in its subsidiary Zhejiang Zhehai Huadi Network Technology Co., Ltd. to an affiliate for RMB 30 million[26]. Investments and Financial Activities - The financial income for the first half of 2019 increased by 391.18% to RMB 49.51 million, attributed to interest income from newly raised funds[34]. - The company’s investment activities generated a net cash flow of RMB 25.48 million, a significant increase of 154.09% year-on-year[32]. - The company projected a total of RMB 41,840,000 in related party transactions with Alibaba Group for 2019, with actual transactions amounting to RMB 15,330,000 for the first half of the year[65]. - The company issued a non-public offering of exchangeable bonds with a total value of RMB 188 million, with a maturity of 6 years and a coupon rate of 0.5%[72]. - The company completed a share transfer of 100% equity in Zhejiang Zhihai to Hangzhou Hema for RMB 30 million[66]. Legal and Compliance Matters - The company reported significant litigation and arbitration matters during the reporting period[54]. - The company reported a total liability of 5,006,206.20 yuan related to a legal dispute with Yantai Rundar[56]. - The court ruled that Yantai Rundar must return 3,289,498 yuan to the company due to breach of contract[56]. - The company has not reported any penalties or rectifications for its directors, supervisors, or senior management during the reporting period[57]. - The company has committed to ensuring that its executive consumption behavior is restrained and does not harm the company's interests[50]. Shareholder and Governance - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[47]. - The company has committed not to reduce its holdings of shares for a period of 36 months following the completion of a non-public offering[82]. - The company appointed a new president, Chen Yan, and several board members were elected or resigned during the reporting period[87]. - The company has not disclosed any updates on its stock incentive plans or employee stock ownership plans beyond what was previously announced[57]. - The company has established a long-term commitment to comply with legal and regulatory requirements regarding related transactions[50]. Market Trends and Economic Environment - In the first half of 2019, China's total retail sales of consumer goods reached RMB 19,521 billion, with a nominal growth of 8.4% year-on-year[24]. - Online retail sales in China grew rapidly, with a year-on-year increase of 17.8%, and physical goods online retail sales increased by 21.6%, accounting for 19.6% of total retail sales[24]. - The company anticipates potential risks due to the slowing growth of the retail industry and challenges in implementing the new retail model, which requires enhanced inventory management and logistics coordination[44]. - The company has taken measures to address potential risks related to financial, operational, and technological aspects of its business[44]. - The company has invested RMB 1,174,000 in poverty alleviation efforts, purchasing products from key poverty alleviation counties[68].

Financial Performance - Net profit attributable to shareholders increased by 40.13% to CNY 53,818,668.98 year-on-year[6] - Operating revenue rose by 2.44% to CNY 1,142,482,928.84 compared to the same period last year[6] - Basic earnings per share increased by 5.13% to CNY 0.0983[6] - Net profit for Q1 2019 reached CNY 53,818,668.98, representing a 40.2% increase from CNY 38,405,433.12 in Q1 2018[29] - Earnings per share for Q1 2019 were CNY 0.0983, compared to CNY 0.0935 in Q1 2018, indicating a growth of 8.6%[30] - The company's net profit for the period is projected to remain stable without significant changes compared to the previous year[16] Asset and Liability Management - Total assets increased by 2.67% to CNY 4,556,821,808.18 compared to the end of the previous year[6] - The company's cash and cash equivalents were CNY 2,873,310,984.85, up from CNY 2,711,051,609.10 at the end of 2018, reflecting a growth of approximately 6%[18] - Accounts receivable increased to CNY 8,002,420.80 from CNY 6,315,252.95, representing a growth of about 27% year-over-year[18] - The company's inventory decreased to CNY 269,169,255.10 from CNY 325,568,035.33, indicating a reduction of approximately 17%[18] - Total current liabilities were CNY 1,373,111,924.60, compared to CNY 1,310,110,690.60 at the end of 2018, marking an increase of about 4.8%[19] - Total liabilities for Q1 2019 were CNY 1,259,520,622.74, up from CNY 1,109,717,535.26 in Q1 2018, marking a rise of 13.5%[24] Cash Flow Analysis - The net cash flow from operating activities increased by 4.72% to CNY 159,476,012.40 year-on-year[6] - The total cash inflow from operating activities was CNY 1,320,001,286.45, slightly up from CNY 1,309,354,001.67 in Q1 2018, reflecting a growth of approximately 0.5%[34] - The net cash flow from operating activities was CNY 159,476,012.40, compared to CNY 152,281,319.79 in Q1 2018, marking an increase of about 4.3%[34] - The company reported a net cash inflow from investing activities of CNY 2,783,363.35, a significant improvement from a net outflow of CNY 20,462,634.34 in the previous year[35] - The cash and cash equivalents at the end of Q1 2019 totaled CNY 2,773,310,984.85, up from CNY 1,313,711,277.48 at the end of Q1 2018, representing an increase of approximately 111.1%[35] Shareholder Information - The number of shareholders reached 34,747 at the end of the reporting period[9] - The total equity attributable to shareholders increased to CNY 3,170,505,227.84 from CNY 3,116,686,558.86, reflecting a growth of approximately 1.7%[20] - The first phase of the employee stock ownership plan involved 3,216,900 shares, with 2,849,000 shares sold, leaving 367,900 shares remaining[13] - The second phase of the employee stock ownership plan successfully purchased 346,700 shares at an average price of CNY 15.532 per share, totaling CNY 5,384,944.40[15] - The company extended the first phase of the employee stock ownership plan by 24 months, now set to expire on September 8, 2021[14] Operational Efficiency - Total operating costs for Q1 2019 were CNY 1,076,584,977.76, up from CNY 1,064,020,670.66 in Q1 2018, reflecting a year-over-year increase of 1.5%[29] - In Q1 2019, the company's operating profit was CNY 55,917,086.88, an increase from CNY 52,195,630.84 in Q1 2018, representing a growth of approximately 5.2%[32] - The company generated CNY 1,299,068,440.49 in cash from sales of goods and services in Q1 2019, compared to CNY 1,291,709,619.47 in Q1 2018, showing a slight increase of about 0.6%[34] - The total operating cash outflow was CNY 1,160,525,274.05, which is comparable to CNY 1,157,072,681.88 in the same quarter last year, indicating a marginal increase of about 0.3%[34] Strategic Focus - The company continues to focus on enhancing its cash flow management and optimizing its investment strategies for future growth[38] - The company has recognized a deferred revenue of approximately $3.91 million, indicating future revenue potential[47]

Financial Performance - The company's operating revenue for 2018 was CNY 4,133,153,277.90, representing a 9.64% increase compared to CNY 3,769,855,515.02 in 2017[22] - The net profit attributable to shareholders for 2018 was CNY 111,612,957.28, a 2.70% increase from CNY 108,681,803.16 in 2017[22] - The net cash flow from operating activities was CNY 320,653,686.19, showing a 2.33% increase from CNY 313,348,265.95 in 2017[22] - The total assets at the end of 2018 were CNY 4,438,270,584.29, a 60.53% increase from CNY 2,764,843,100.24 at the end of 2017[22] - The net assets attributable to shareholders increased by 90.44% to CNY 3,116,686,558.86 at the end of 2018 from CNY 1,636,569,570.23 at the end of 2017[22] - The basic earnings per share for 2018 was CNY 0.2446, a decrease of 7.56% from CNY 0.2646 in 2017[23] - The diluted earnings per share for 2018 was also CNY 0.2446, reflecting the same decrease of 7.56% from the previous year[23] - The company reported a significant increase in net cash flow from financing activities, reaching CNY 1.37 billion, compared to a negative CNY 82.15 million last year[41] - The total operating income for the reporting period was 413,315 million yuan, a 9.64% increase from the previous period[66] - The total operating costs for 2018 were CNY 4,000,511,514.31, up from CNY 3,641,554,973.25, reflecting an increase of 9.87%[187] Asset and Equity Growth - The total assets increased by 60.53%, and the equity attributable to shareholders rose by 90.44%, primarily due to the completion of a non-public stock issuance[35] - The company's total equity reached ¥3,116,686,558.86, up from ¥1,636,569,570.23, indicating an increase of around 90.4%[183] - The total liabilities increased to ¥1,321,584,025.43 from ¥1,128,273,530.01, indicating a rise of approximately 17.1%[182] - The company's retained earnings grew to ¥451,046,964.76 from ¥432,571,912.94, marking an increase of about 4.3%[183] Store Expansion and Operations - The company opened 39 new stores during the year, although it fell short of the target of 40 new openings[35] - The company closed 6 stores in 2018, indicating a strategic focus on optimizing store performance[37] - The total number of stores at the end of 2018 reached 202, up from 169 at the beginning of the year, after closing 6 stores[57] - The company plans to continue expanding its store network, having opened 5 additional stores after the reporting period[57] - The company has established a comprehensive food safety management system, enhancing its compliance with national food safety laws[37] Cost and Expense Management - Sales expenses increased by 14.53%, while management expenses rose by 17.61%, reflecting higher operational costs associated with expansion efforts[39] - The cost of sales rose by 9.11% to CNY 3.14 billion, reflecting increased sales volume[47] - The logistics cost increased by 9.94% year-on-year due to a rise in fresh food delivery[65] Online Sales and Digital Transformation - Online sales revenue reached 27,193 million yuan, accounting for 6.86% of main business income, with a year-on-year increase of 275.55%[67] - The company reported a 23.9% increase in online retail sales for the year, with physical goods online retail sales growing by 25.4%[76] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, totaling CNY 109,535,680.00[5] - The net profit attributable to ordinary shareholders for 2018 was 111,612,957.28 RMB, with a dividend payout ratio of 98.14%[86] - The company has a history of consistent cash dividend payments over the past three years, maintaining a dividend of 2 RMB per 10 shares each year[86] Corporate Governance and Compliance - The company has committed to avoiding conflicts of interest and competition with its controlling shareholders and subsidiaries[87] - The company has made a written commitment to not lend funds to related parties or non-related parties in any form[88] - The company has acknowledged the regulatory requirements from the China Securities Regulatory Commission regarding its commitments and will comply with any new regulations[89] - KPMG Huazhen has been reappointed as the company's financial audit and internal control audit firm for the year 2018, with audit fees of RMB 700,000 and RMB 450,000 respectively[91] Employee and Management Structure - The total number of employees in the parent company is 3,443, and the total number of employees in major subsidiaries is 1,274, resulting in a combined total of 4,717 employees[143] - The total remuneration for directors, supervisors, and senior management amounted to 6.9621 million yuan (pre-tax) for the year[140] - The company has established a training program at Sanjiang University, focusing on new employee training, management trainee programs, and professional skills training[145] Financial Audit and Internal Control - The independent audit by KPMG confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2018[165] - The internal control self-assessment report is available on the Shanghai Stock Exchange website, confirming no significant deficiencies in internal control during the reporting period[161] Market Challenges and Strategic Focus - The retail industry is facing a slowdown, with overall revenue growth rates declining due to weak economic growth and consumer spending[82] - The company is undergoing a transformation to adapt to the retail industry's low-profit era, facing challenges from market fragmentation and e-commerce competition[82] - The company is focused on innovation and transformation to improve operational performance amid uncertainties in the retail market[82]

Financial Performance - The company's operating revenue for 2018 was RMB 4,133,153,277.90, representing a year-on-year increase of 9.64% compared to RMB 3,769,855,515.02 in 2017[22]. - The net profit attributable to shareholders of the listed company was RMB 111,612,957.28, a 2.70% increase from RMB 108,681,803.16 in the previous year[22]. - The net cash flow from operating activities was RMB 320,653,686.19, reflecting a 2.33% increase from RMB 313,348,265.95 in 2017[22]. - The total assets at the end of 2018 reached RMB 4,438,270,584.29, a 60.53% increase from RMB 2,764,843,100.24 in 2017[22]. - The net assets attributable to shareholders of the listed company increased by 90.44% to RMB 3,116,686,558.86 from RMB 1,636,569,570.23 in 2017[22]. - The total share capital increased by 33.33% to 547,678,400 shares from 410,758,800 shares in 2017[22]. - Basic earnings per share for 2018 were RMB 0.2446, down 7.56% from RMB 0.2646 in 2017[23]. - The weighted average return on net assets decreased by 1.4857 percentage points to 5.2452% in 2018 from 6.7309% in 2017[23]. - The company achieved a revenue growth of 9.64% in 2018, marking a turnaround after five consecutive years of decline[35]. - Total assets increased by 60.53%, and equity attributable to shareholders rose by 90.44%, primarily due to the completion of a non-public stock issuance[35]. Operational Highlights - The company opened 39 new stores during the year, although it fell short of the target of 40 new openings[35]. - Sales expenses increased by 14.53%, while management expenses rose by 17.61%, indicating higher operational costs[39]. - The company closed 6 stores in 2018, while the renovation of existing stores was carried out to enhance revenue[37]. - The company has established a comprehensive food safety management system, aiming to comply with national food safety laws[37]. - The company has implemented a talent recruitment and training program to strengthen its workforce and support strategic growth[36]. - The company received government subsidies amounting to CNY 26,892,897.82, which are closely related to its normal business operations[25]. - The company’s retail operations showed a steady growth trend, with a focus on enhancing store formats and locations[54]. - Average daily effective customer traffic reached 227,500, an increase of 2.07% year-on-year[57]. Financial Position - The company's cash and cash equivalents increased significantly to CNY 2.71 billion, representing 61.08% of total assets, primarily due to funds received from a private placement[52]. - The company's accounts payable increased by 36.42% to approximately 560 million, primarily due to an increase in outstanding payments at the end of the reporting period[53]. - Deferred income decreased by 38.19% to approximately 3.91 million, reflecting the recognition of part of the government subsidies during the period[53]. - The company reported a 123.82% increase in tax liabilities to approximately 7.56 million, attributed to accelerated depreciation leading to increased taxable differences[53]. - The total signed area of stores at the end of 2018 was approximately 400,951.07 square meters, with 307,587.85 square meters in Ningbo and 93,363.22 square meters in other regions[56]. - The company experienced a significant increase in other receivables, which rose by 35.94% to approximately 76.90 million, mainly due to increased interest from bank deposits[53]. Shareholder and Governance - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 109,535,680.00 to shareholders[5]. - The company has committed to avoiding conflicts of interest and competition with its controlling shareholders and subsidiaries, ensuring compliance with legal and regulatory requirements[86]. - The company has committed to ensuring that any related party transactions are conducted on fair and reasonable terms, avoiding preferential conditions compared to third parties in the market[87]. - The actual controller, Chen Nianci, has pledged to avoid any related party transactions with the company, ensuring that any unavoidable transactions will be conducted at market-recognized reasonable prices[87]. - The company has made a written commitment to not lend funds to related or non-related parties in any form[88]. - The company has not reported any significant changes in its financial forecasts for assets or projects during the reporting period[89]. - KPMG Huazhen has been reappointed as the company's financial audit and internal control audit firm for the 2018 fiscal year, with audit fees set at RMB 700,000 and RMB 450,000 respectively[90]. - The company has no significant litigation or arbitration matters reported for the year[91]. Employee and Management - The total number of employees in the parent company is 3,443, and the total number of employees in major subsidiaries is 1,274, resulting in a combined total of 4,717 employees[138]. - The total remuneration for directors, supervisors, and senior management in the current year amounts to 6.9621 million yuan (pre-tax)[135]. - The company has established a training program that includes new employee training, management trainee programs, and specialized skill training, aimed at developing retail talent for new retail growth[140]. - The company emphasizes a fair and transparent compensation policy, linking employee salaries to performance and providing incentives for innovation and participation in business operations[139]. Future Outlook - The company plans to continue expanding its store network, having opened 5 additional stores after the reporting period[56]. - The company plans to transform from a traditional community supermarket to a new retail community fresh supermarket within three years, starting in 2019[75]. - The company aims to open 40 new stores, utilizing data-driven site selection for 100% of new locations[78]. - The company plans to continue expanding its capital base and improving its financial metrics in the upcoming year[199].

Financial Performance - Operating revenue for the first nine months reached CNY 3,141,671,619.83, a 9.71% increase year-on-year[7] - Net profit attributable to shareholders decreased by 15.78% to CNY 79,941,295.75 compared to the same period last year[7] - Total revenue for Q3 2018 reached ¥1,064,693,318.07, an increase of 13.4% compared to ¥938,938,540.73 in Q3 2017[32] - The company reported a net profit margin improvement, with net profit for the first nine months of 2018 reaching ¥90,800,000, compared to ¥70,000,000 in the same period last year[32] - The company's net profit for Q3 2018 was CNY 23,005,493.50, a decrease of 20.5% compared to CNY 28,866,418.71 in Q3 2017[33] - Total operating revenue for the first nine months of 2018 was CNY 2,695,510,208.81, down from CNY 2,736,326,568.39 in the same period last year, representing a decline of 1.5%[35] - The company's total profit for Q3 2018 was CNY 32,132,851.13, down from CNY 37,984,871.11 in Q3 2017, reflecting a decline of 15.5%[33] - The basic earnings per share for Q3 2018 was CNY 0.0491, compared to CNY 0.0703 in Q3 2017, a decrease of 30.5%[34] - The company reported a basic earnings per share of ¥0.28 for the first nine months of 2018, compared to ¥0.34 in the same period last year[37] Assets and Liabilities - Total assets increased by 58.04% to CNY 4,369,547,277.91 compared to the end of the previous year[7] - Total current liabilities increased to 1,276,134,695.80 yuan from 1,118,566,706.44 yuan at the beginning of the year[25] - The total assets as of September 30, 2018, amounted to ¥4,229,009,589.74, compared to ¥2,685,409,277.90 at the beginning of the year, indicating a growth of 57.4%[30] - The total liabilities as of September 30, 2018, were ¥1,148,261,834.64, an increase from ¥1,035,858,782.90 at the start of the year[30] - Cash and cash equivalents increased to 2,700,676,956.66 yuan from 1,094,403,468.16 yuan at the beginning of the year[24] - Cash and cash equivalents rose significantly to ¥2,516,130,338.31 from ¥907,624,365.89, marking an increase of 177.5%[28] Cash Flow - Cash flow from operating activities for the first nine months was CNY 288,411,278.82, a decrease of 3.92% year-on-year[7] - Cash received from operating activities decreased by 38.69% compared to the same period last year, primarily due to the non-receipt of prepaid card deposits and the suspension of public transport IC card recharges at the beginning of the year[15] - Cash inflow from operating activities totaled ¥3,529,235,539.49, up from ¥3,223,491,806.08 year-on-year, indicating a growth of 9.5%[38] - Cash outflow from operating activities was ¥3,240,824,260.67, compared to ¥2,923,318,270.11 in the previous year, representing an increase of 10.9%[38] - Net cash flow from operating activities for the first nine months was ¥288,411,278.82, a decrease of 3.5% from ¥300,173,535.97 in the previous year[38] - Cash flow from financing activities generated a net inflow of ¥1,368,495,154.09, compared to a net outflow of -¥82,151,760.00 in the previous year, showing a substantial improvement[38] Expenses and Income - Management expenses rose by 31.43% to CNY 96,257,601.33 due to increased costs for talent acquisition and employee stock ownership plan expenses[13] - Other income increased by 43.66% to CNY 20,986,036.31, mainly from additional trade circulation subsidies[14] - Investment income surged by 158.91% to CNY 421,619.51, reflecting changes in the profit and loss of long-term equity investments[14] - Sales expenses for Q3 2018 were CNY 200,324,196.52, an increase of 16.1% from CNY 172,541,498.89 in Q3 2017[33] - The company reported a financial expense of CNY -8,856,440.63 in Q3 2018, compared to CNY -5,077,381.72 in Q3 2017, indicating an increase in financial costs[33] Shareholder Information - Net assets attributable to shareholders increased by 88.53% to CNY 3,085,493,815.77 compared to the end of the previous year[7] - Alibaba Zeta holds 175,257,088 shares after the completion of the non-public issuance, accounting for 32% of the total share capital[20] - The second employee stock ownership plan completed the purchase of 346,700 shares at an average price of 15.532 yuan per share, totaling 5,384,944.40 yuan[19] - The company has no overdue commitments or significant changes in expected cumulative net profit compared to the previous year[21] Inventory and Other Assets - Accounts receivable increased by 67.44% to CNY 7,916,484.58 compared to the end of the previous year, attributed to the expansion of group buying and major customer sales[12] - Inventory decreased to ¥162,150,182.63 from ¥219,986,767.89, a reduction of 26.2%[28] - Cash recovered from the disposal of fixed assets, intangible assets, and other long-term assets decreased by 89.86% compared to the same period last year, mainly due to cash recovery from asset disposals in 2017[16] - Cash received from the issuance of non-public shares amounted to 1,451,150,259.09 yuan, attributed to fundraising from Alibaba Zeta's private placement[15]