Financial Performance - The company's operating revenue for Q1 2023 was ¥919,946,654.32, representing a year-on-year increase of 23.09%[5] - The net profit attributable to shareholders of the listed company was ¥69,245,540.45, reflecting a growth of 31.87% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥65,853,983.35, up by 29.78% year-on-year[5] - The basic earnings per share for the period was ¥0.1218, an increase of 31.29% from the previous year[5] - The company reported operating profit of ¥96,286,045.69, up from ¥65,844,191.07, reflecting a growth of about 46.1%[31] - The total comprehensive income attributable to the parent company for Q1 2023 was CNY 69,245,540.45, an increase of 31.8% compared to CNY 52,511,173.40 in Q1 2022[33] - Basic earnings per share for Q1 2023 was CNY 0.1218, up from CNY 0.0928 in Q1 2022, representing a growth of 31.5%[33] Assets and Liabilities - The total assets at the end of the reporting period were ¥6,018,570,839.52, which is a 2.94% increase from the end of the previous year[8] - The equity attributable to shareholders of the listed company was ¥3,407,479,573.03, marking a 2.55% increase compared to the previous year-end[8] - The company's total liabilities rose to ¥2,376,507,548.02, up from ¥2,314,362,487.88, reflecting an increase of approximately 2.68%[26] - Total assets increased to ¥6,018,570,839.52, up from ¥5,846,696,871.50, representing a growth of approximately 2.94%[25] - Current assets totaled ¥1,879,760,089.34, an increase from ¥1,661,688,699.04, indicating a growth of about 13.14%[25] - The total liabilities and shareholders' equity reached CNY 6,018,570,839.52 as of March 31, 2023, compared to CNY 5,846,696,871.50 at the end of 2022[21] Cash Flow - The net cash flow from operating activities was ¥151,429,288.70, with an increase in cash receipts due to higher operating revenue[5] - Cash inflow from operating activities for Q1 2023 was CNY 1,152,632,382.01, compared to CNY 817,391,597.89 in Q1 2022, indicating a year-over-year increase of 41%[34] - Net cash flow from operating activities for Q1 2023 was CNY 151,429,288.70, a significant recovery from a net outflow of CNY -55,560,050.80 in Q1 2022[34] - The net cash flow from investing activities for Q1 2023 was CNY 97,345,750.43, compared to a net outflow of CNY -56,568,956.51 in Q1 2022, showing a positive turnaround[34] - The net cash flow from financing activities for Q1 2023 was CNY -18,175,780.48, worsening from CNY -7,615,284.08 in Q1 2022[38] Operational Highlights - The company experienced a significant increase in restaurant business revenue, contributing to the overall profit growth[10] - The construction in progress increased by 31.61%, indicating ongoing investment in new projects[10] - The company introduced new domestic credit settlement methods, resulting in a 1,944.62% increase in notes payable[10] Other Financial Metrics - Total operating costs for Q1 2023 were CNY 824,660,347.49, up 21.38% from CNY 679,621,301.15 in the same period last year[22] - Research and development expenses for Q1 2023 were CNY 15,948,508.54, slightly down from CNY 16,332,308.75 in Q1 2022[22] - The company's cash and cash equivalents amounted to CNY 1,127,052,250.66 as of March 31, 2023, compared to CNY 914,592,862.57 at the end of 2022[17] - Accounts receivable increased to CNY 171,964,909.55 in Q1 2023 from CNY 147,126,279.45 in Q1 2022, reflecting a growth of 16.88%[17] - Inventory decreased to CNY 274,809,416.90 in Q1 2023 from CNY 308,907,800.05 in Q1 2022, a decline of 11.03%[17] Audit and Compliance - The financial report is unaudited, indicating that the figures are subject to change upon final audit[17]

Group 1: Company Overview - Guangzhou Restaurant Group achieved a revenue of CNY 4.112 billion in 2022, a year-on-year increase of 5.72% [2] - The food business generated CNY 3.253 billion, up 6.58%, while the catering business reached CNY 762 million, growing by 5.14% [2] - Net profit attributable to shareholders was CNY 520 million, a decrease of 6.68% year-on-year [2] - The company focuses on its core business strategy of "strong brand in catering, scale in food" [2] Group 2: Market Strategy and Expansion - The company is prioritizing the East China region for marketing, particularly focusing on Shanghai [3] - Specific measures are being implemented for each regional market, including direct teams in key locations and partnerships with distributors [3] - The company plans to enhance online and offline channel synergy, particularly through e-commerce [3] Group 3: Product Development and Challenges - The company is preparing for the mooncake season with strategic procurement and production planning [4] - Mooncake profit margins have been affected by raw material price fluctuations and product structure adjustments [5] - The company is investing in market promotion and sales to counteract declining margins [5] Group 4: Industry Trends and Future Outlook - The frozen food sector is expected to diversify with more niche categories emerging due to technological advancements [6] - The company is focusing on its strengths in Cantonese dim sum within the frozen food market [6] - The first phase of the Meizhou base for frozen production is operational, while the Xiangtan base is still under construction [7] Group 5: Future Plans and Initiatives - The company is actively developing its prepared food segment, focusing on Cantonese flavors and third-party brand processing [8] - Two restaurants in Shanghai are under development, with a focus on strategic location selection and brand establishment [8] - The company has completed its first stock option incentive plan and is exploring future opportunities for effective incentive schemes [9]

Financial Performance - The company achieved a revenue of 4.112 billion yuan, representing a year-on-year growth of 5.72%[61]. - The food business generated a revenue of 3.253 billion yuan, with a year-on-year increase of 6.58%, while the restaurant business reported 762 million yuan, growing by 5.14%[61]. - The net profit attributable to shareholders was 520 million yuan, a decrease of 6.68% year-on-year, and the net profit excluding non-recurring items was 477 million yuan, down 9.43%[61]. - The company's operating revenue for the current period is ¥4,112,347,081.55, representing a year-on-year increase of 5.72% from ¥3,889,924,382.28[88]. - The operating cost increased to ¥2,646,930,652.85, up 9.45% from ¥2,418,398,860.76[88]. - The net cash flow from operating activities reached ¥833,336,175.00, a 14.32% increase compared to ¥728,924,488.35 in the previous year[88]. - The company reported a significant increase in other non-current assets, which rose to ¥1,263,349,960.69, a 4,308.41% increase from the previous year[117]. - The company achieved a revenue of approximately CNY 4.07 billion, with a year-on-year increase of 5.90%[156]. - The frozen food segment reported a revenue of CNY 1.06 billion, reflecting a significant year-on-year growth of 24.75%[156]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 4.00 RMB per 10 shares, totaling approximately 227.51 million RMB, which represents 43.72% of the net profit attributable to shareholders[11]. Market Expansion and Strategy - The company opened 7 new restaurant locations during the reporting period, including 5 in Guangdong province, contributing to its cross-regional expansion strategy[28]. - The company is actively expanding its market presence in East China by establishing a restaurant management company in Shanghai[28]. - The company is focusing on expanding its food business while enhancing its restaurant operations, aiming for a nationwide layout[82]. - The company is strategically expanding its market presence beyond provincial boundaries to capture new growth opportunities[82]. - The company is increasing its focus on non-seasonal products like frozen foods to mitigate seasonal revenue volatility and enhance profit growth[167]. Product Development and Innovation - The company is focusing on product innovation by launching new dishes while upgrading classic recipes to enhance consumer dining experiences[28]. - The company has introduced a variety of new products, including specialty mooncakes and a range of frozen products, to optimize its product structure[82]. - The company is committed to integrating traditional cooking techniques with modern concepts to innovate Cantonese cuisine[58]. - The company is investing in talent retention and development to address risks associated with technical personnel turnover and human resource shortages[168]. Marketing and Brand Development - The company plans to enhance its brand image and dining environment by incorporating Lingnan decorative elements into modern aesthetics through store upgrades[28]. - The company is enhancing its online and offline marketing strategies, including the use of short videos and live streaming to boost sales on emerging e-commerce platforms[52]. - The company is leveraging brand building and cultural output to strengthen its market position and drive growth[82]. - The company is focusing on the Guangdong-Hong Kong-Macao Greater Bay Area, leveraging differentiated product strategies to capture market demand[150]. Financial Management and Accounting - The company is actively monitoring and adjusting its accounting estimates related to expected credit losses and goodwill impairment[77]. - The company has implemented simplified accounting methods for short-term leases and low-value asset leases, improving financial reporting efficiency[75]. - The company is committed to continuous evaluation of its accounting policies and estimates to mitigate risks of significant adjustments in asset and liability values[77]. Governance and Compliance - The company has revised its internal governance documents in compliance with new regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange[169]. - The company held its 2021 Annual General Meeting on April 21, 2022, with resolutions published on April 22, 2022[171]. - The company has independent directors actively participating in board meetings, with no instances of consecutive absences[179]. - The company’s governance structure includes a board of directors and various committees, ensuring compliance with regulations[180]. - The company has established 5 specialized committees under the board to support scientific decision-making[188]. Supply Chain and Production - The company has implemented a centralized procurement strategy to stabilize supply channels and control costs effectively[58]. - The company is focusing on the development of its frozen food production capacity across multiple bases to ensure product supply and support long-term growth[52]. - The production and sales of the core product, mooncakes, are highly seasonal, with a significant market judgment and supply chain management capability required for peak production[60]. - The company has implemented centralized procurement strategies to manage raw material price fluctuations, aiming to reduce the impact of cost increases on profit margins[167]. Research and Development - Research and development expenses amounted to ¥83,799,538.20, reflecting an 8.20% increase from ¥77,446,241.99[88]. - The company has increased its investment in research and development, with nearly 60 new patents granted during the reporting period[150]. - The company employed 430 R&D personnel, accounting for 7.36% of the total workforce[113].

证券代码：603043 证券简称：广州酒家 公告编号：2023-010 广州酒家集团股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议召开时间：2023 年 04 月 04 日(星期二) 下午 16:00-17:00 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 03 月 28 日(星期二)至 04 月 03 日(星期一)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 gzjj603043@gzr.com.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。 广州酒家集团股份有限公司（以下简称"公司"）将于 2023 年 3 月 30 日发 布公司 2022 年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经营 成果、财务状况， ...

Financial Performance - The company's revenue for Q3 2022 was ¥1,916,673,825.19, representing a year-over-year increase of 7.42%[5] - Net profit attributable to shareholders for the same period was ¥415,817,490.19, with a growth of 2.37% compared to the previous year[5] - The basic earnings per share (EPS) for Q3 2022 was ¥0.7335, reflecting a 2.37% increase year-over-year[5] - Total operating revenue for Q3 2022 reached ¥3,340,296,490.59, an increase of 10.7% compared to ¥3,016,393,671.51 in Q3 2021[28] - Net profit for Q3 2022 was ¥474,246,559.40, representing a 4.8% increase from ¥452,099,483.51 in Q3 2021[31] - The total comprehensive income attributable to the parent company was CNY 470,274,391.19, an increase from CNY 443,651,282.97 in the previous year, representing a growth of approximately 6.5%[33] - Basic earnings per share increased to CNY 0.8296 from CNY 0.7844, reflecting a rise of about 5.5%[33] Assets and Liabilities - Total assets as of the end of the reporting period reached ¥5,881,386,166.17, marking a 21.78% increase from the previous year-end[7] - The company's total liabilities increased to ¥2,421,611,203.09 in Q3 2022 from ¥1,637,586,333.70 in Q3 2021, reflecting a growth of 47.8%[28] - Total assets of the company reached ¥5,881,386,166.17, an increase from ¥4,829,419,003.47 in Q3 2021, reflecting a growth of 21.8%[28] - Current assets amounted to RMB 3,472,908,329.39, up from RMB 2,520,519,503.27 in the previous year[23] - Non-current assets totaled RMB 2,408,477,836.78, up from RMB 2,308,899,500.20[23] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥1,103,284,255.26, showing an increase of 8.70% year-over-year[5] - Cash flow from operating activities amounted to CNY 3,931,559,825.65, compared to CNY 3,389,034,852.12 in the previous year, indicating an increase of approximately 16.1%[37] - The company reported a net cash inflow from operating activities of CNY 1,103,284,255.26, compared to CNY 1,015,012,221.23 in the previous year, indicating an increase of about 8.7%[39] - Net cash flow from investing activities was negative at CNY -373,940,313.11, worsening from CNY -16,946,933.06 in the previous year[39] - Net cash flow from financing activities was negative at CNY -92,465,120.60, an improvement from CNY -314,979,183.81 in the previous year[39] Shareholder Information - The company reported a total of 20,689 shareholders at the end of the reporting period[17] - The largest shareholder, Guangzhou Urban Construction Investment Group Co., Ltd., holds 50.85% of the shares[17] - The company has no pledged, marked, or frozen shares among its major shareholders[17] Operational Highlights - The company reported a significant increase in short-term borrowings, which rose by 100% due to bank acceptance bill discounts[11] - Contract liabilities increased by 86.31%, indicating a rise in customer prepayments[11] - Government subsidies recognized during the period amounted to ¥14,915,024.60, contributing to the increase in other income[8] - The company experienced a 945.42% increase in trading financial assets, attributed to the purchase of wealth management products[11] - The company reported a significant increase in other income, which rose to ¥14,915,024.60 from ¥10,748,348.66, an increase of 38.5%[31] Research and Development - Research and development expenses for Q3 2022 were ¥61,411,823.80, a rise of 9.4% compared to ¥56,067,255.21 in Q3 2021[28] Inventory and Receivables - Accounts receivable increased to RMB 263,476,023.23 from RMB 134,844,701.02 year-over-year[23] - Inventory decreased slightly to RMB 296,321,287.45 from RMB 310,403,110.53[23]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,423,622,665.40, representing a 15.54% increase compared to CNY 1,232,163,377.36 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached CNY 54,456,901.00, a 45.33% increase from CNY 37,470,859.32 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 48,828,923.89, up 59.19% from CNY 30,672,902.22 year-on-year[21]. - The basic earnings per share increased to CNY 0.0961, a rise of 44.94% compared to CNY 0.0663 in the same period last year[23]. - The weighted average return on net assets rose to 1.80%, an increase of 0.37 percentage points from 1.43% in the previous year[23]. - The net cash flow from operating activities was CNY 52,235,807.29, a significant recovery from a negative cash flow of CNY -126,567,647.81 in the same period last year[21]. - The company reported a non-recurring loss of ¥357,798.16 from the disposal of non-current assets[24]. - The total impact of non-recurring gains and losses on the current period was ¥5,627,977.11 after accounting for tax and minority interests[26]. Business Operations - The company operates in the food manufacturing industry, which continues to expand due to consumer demand for diverse food options[28]. - The company maintains a dual business model of "food manufacturing" and "restaurant services," enhancing brand strength and operational scale[32]. - As of the report date, the company has 31 directly operated restaurants, including 20 under the "Guangzhou Restaurant" brand[31]. - The company aims to create a century-old brand and become a world-class dining group, focusing on innovation and quality[29]. - The company has seen a growing preference for frozen and prepared foods among consumers, driven by convenience and variety[28]. - The company is actively expanding its market presence through brand innovation and strategic acquisitions[28]. - The restaurant industry is recovering from the impacts of COVID-19, with government policies supporting its revival[28]. - The food manufacturing segment generated revenue of CNY 976 million, up 10.81% year-on-year, while the restaurant business revenue reached CNY 394 million, a growth of 30.55%[38]. Product Development and Innovation - The company launched multiple new products, including the first low GI mooncakes in China, certified by the Global Green Alliance, enhancing product innovation[39]. - The company added 44 new authorized patents and developed or improved several products, including frozen snacks and pre-prepared dishes[39]. - The company is accelerating new product development, including ready-to-eat dishes and frozen food, to adapt to changing consumer preferences and market conditions[56]. Market Strategy - The company has established a comprehensive sales system, including distributors, e-commerce, and community group buying, to enhance market coverage[40]. - The company focuses on strategic procurement to stabilize supply channels and control costs effectively[1]. - The company aims to expand its market presence in East China and Guangdong East regions, leveraging community consumption trends[40]. - The company is expanding its restaurant business, with new locations planned in Southeast Asia and Shenzhen[43]. Financial Position - Total assets at the end of the reporting period were CNY 4,686,943,771.72, down 2.95% from CNY 4,829,419,003.47 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased to CNY 2,834,955,490.64, a decline of 5.08% from CNY 2,986,628,638.07 at the end of the previous year[23]. - The company reported a decrease in cash and cash equivalents from ¥1,936,609,687.52 at the beginning of the period to ¥1,625,993,235.91 at the end, representing a decline of approximately 16.06%[115]. - Total liabilities increased from ¥1,637,586,333.70 to ¥1,653,401,934.82, indicating a rise of approximately 0.97%[119]. Risk Management - The company faced risks from the COVID-19 pandemic, which affected consumer activity and supply chain efficiency, potentially leading to performance declines if the situation worsens[56]. - The company is facing risks from rising raw material prices, particularly agricultural products, which could impact profit margins[56]. - The company is implementing centralized procurement strategies to manage raw material costs and ensure food safety[56]. - The company is investing in talent retention and development to address risks related to technical personnel turnover and human resource shortages[59]. - The company is enhancing its food safety management system to mitigate risks associated with product quality and safety[56]. Environmental and Social Responsibility - The company actively engages in environmental protection initiatives, including tree planting activities to promote green development and ecological civilization[78]. - The company actively promotes sustainable development, implementing measures to reduce carbon emissions and environmental impact, including encouraging food waste reduction among employees and customers[79]. - The company has established a comprehensive rural revitalization strategy, enhancing local industry through the creation of an agricultural development company and a public assistance brand, benefiting the local economy[80]. - The company facilitated the sale of 1 million pounds of pineapples in just two weeks, effectively addressing the issue of unsold produce for local farmers[83]. Corporate Governance - There are no significant lawsuits or arbitration matters reported during the reporting period, indicating a stable legal standing for the company[96]. - The company has established a long-term commitment to ensure that any share transfers by senior management do not exceed 25% of their total holdings during their tenure[93]. - The company has a commitment to disclose any related transactions in accordance with legal and regulatory requirements, maintaining transparency with shareholders[90]. - The company has maintained a good integrity status, with no significant debts or court judgments pending against it during the reporting period[96]. Accounting and Financial Reporting - The financial statements are prepared based on the accounting standards issued by the Ministry of Finance, reflecting the company's financial position as of June 30, 2022, and its operational results for the first half of 2022[170]. - The company has confirmed its ability to continue as a going concern for at least 12 months from the reporting date, with no significant issues affecting this capability[168]. - The company recognizes goodwill for the excess of the acquisition cost over the fair value of identifiable net assets acquired, measured at cost less accumulated impairment[177]. - The company classifies financial assets into three categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[188].

Financial Performance - The company's operating revenue for Q1 2022 was ¥747,387,647.78, representing an increase of 11.51% compared to the same period last year[6] - The net profit attributable to shareholders of the listed company was ¥52,511,173.40, reflecting a growth of 10.36% year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥50,742,322.47, which is an increase of 13.23% compared to the previous year[6] - The basic earnings per share for the period was ¥0.0928, down by 21.24% year-on-year[6] - The net profit for the first quarter of 2022 was CNY 53,241,743.99, an increase of 11.1% compared to CNY 47,609,800.85 in the same period of 2021[32] - The total revenue from operating activities was CNY 817,391,597.89, up from CNY 704,120,101.98 year-over-year, representing a growth of approximately 16.1%[37] - The total comprehensive income for the first quarter was CNY 53,241,743.99, compared to CNY 47,609,800.85 in the prior year, marking an increase of 11.1%[34] Cash Flow and Liquidity - The net cash flow from operating activities was -¥55,560,050.80, indicating a significant change from the previous year[6] - The cash flow from operating activities showed a net outflow of CNY -55,560,050.80, an improvement from CNY -130,011,110.19 in the previous year[37] - The net cash flow from financing activities was -$7,615,284.08, a significant improvement from -$113,753,713.31 in the previous period[39] - The net increase in cash and cash equivalents was -$119,744,291.39, an improvement from -$339,135,122.33 year-over-year[39] - The ending balance of cash and cash equivalents was $1,816,865,396.13, up from $1,326,064,059.45 in the previous period[39] - The beginning balance of cash and cash equivalents was $1,936,609,687.52, indicating a decrease in cash reserves[39] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,751,616,912.87, a decrease of 1.61% compared to the end of the previous year[9] - Total assets as of March 31, 2022, were RMB 4,751,616,912.87, down from RMB 4,829,419,003.47 at the end of 2021, indicating a decrease of about 1.6%[26] - Total liabilities decreased to RMB 1,486,410,857.87 in Q1 2022 from RMB 1,637,586,333.70 at the end of 2021, reflecting a reduction of approximately 9.2%[28] - The company's equity attributable to shareholders increased to RMB 3,059,271,452.71 in Q1 2022 from RMB 2,986,628,638.07 at the end of 2021, representing an increase of about 2.4%[28] - The equity attributable to shareholders of the listed company was ¥3,059,271,452.71, which increased by 2.43% year-on-year[9] Operational Metrics - Total operating costs for Q1 2022 amounted to RMB 679,621,301.15, compared to RMB 614,057,439.69 in Q1 2021, indicating an increase of about 10.7%[28] - Accounts receivable increased to RMB 172,473,093.89 in Q1 2022 from RMB 134,844,701.02 in Q1 2021, showing a growth of about 27.9%[22] - Inventory decreased to RMB 288,440,934.37 in Q1 2022 from RMB 310,403,110.53 at the end of 2021, a decline of approximately 7.1%[22] - The company reported a significant increase of 69.25% in prepaid accounts, attributed to an increase in advance payments for goods[12] - The company reported a decrease in accounts payable to RMB 177,730,769.08 in Q1 2022 from RMB 246,858,522.18 in Q1 2021, a decline of approximately 28.0%[26] Expenses - Research and development expenses increased to CNY 16,332,308.75, compared to CNY 14,239,778.45 in the previous year, reflecting a growth of 14.7%[32] - The company's sales expenses rose to CNY 70,944,377.64, up from CNY 58,894,713.48, indicating an increase of 20.5%[32] - The company reported a decrease in financial expenses, with interest expenses at CNY 5,862,914.42, up from CNY 4,006,795.20, reflecting a rise of 46.2%[32] - The investment income reported a loss of CNY -381,678.79, an improvement from a loss of CNY -665,814.17 in the previous year[32] - The total cash outflow from investing activities was CNY 56,696,220.92, down from CNY 95,386,692.24, indicating a reduction of 40.6%[37] Shareholder Information - The top shareholder, Guangzhou Urban Construction Investment Group Co., Ltd., holds 50.85% of the shares[14] - The company did not conduct an audit for the financial statements of this quarter[6]

Group 1: Investor Meeting Overview - The investor meeting was held on March 31, 2022, via a conference call [1] - Over 110 institutions participated, including major securities firms and fund management companies [1] Group 2: 2021 Financial Performance - The company achieved a revenue of CNY 3.89 billion in 2021, representing an 18.33% year-on-year growth [2] - Revenue from the food manufacturing segment was CNY 3.05 billion, up 13.22%, while the catering business revenue reached CNY 725 million, increasing by 48.32% [2] - Net profit attributable to shareholders was CNY 558 million, a 20.28% increase compared to the previous year [2] Group 3: Business Operations and Market Strategy - The food manufacturing segment accounted for nearly 80% of total revenue, with mooncake products being a core revenue driver, maintaining over 10% growth [2] - Frozen products contributed 22% to the company's revenue, with Guangdong province accounting for nearly 70% of total income [3] - The company added over 160 new distributors, with online sales exceeding 20% of total revenue in 2021 [3] Group 4: Production Capacity and Cost Management - The company has established production bases in Guangzhou, Meizhou, Maoming, and Xiangtan, with sufficient capacity to support mooncake production [4] - The decline in mooncake gross margin in 2021 was attributed to SKU structural adjustments and rising raw material costs [5] - The company is implementing comprehensive cost management strategies to mitigate the impact of rising costs [5] Group 5: Future Business Development - The company is focusing on expanding its presence in the East China market through partnerships and localized production [6] - The catering business has been affected by COVID-19, but operations are recovering as restrictions ease [7] - The company is committed to developing its prepared dishes segment, emphasizing Cantonese flavors and increasing investment in this area [7]

Financial Performance - The company's operating revenue for 2021 was CNY 3,889,924,382.28, representing an 18.33% increase compared to CNY 3,287,486,223.16 in 2020[24]. - Net profit attributable to shareholders for 2021 was CNY 557,634,644.01, a 20.28% increase from CNY 463,598,526.14 in 2020[24]. - The net profit after deducting non-recurring gains and losses was CNY 526,211,243.92, up 16.69% from CNY 450,950,731.27 in 2020[24]. - The company's total assets increased by 25.85% to CNY 4,829,419,003.47 at the end of 2021, compared to CNY 3,837,439,038.37 at the end of 2020[24]. - The basic earnings per share for 2021 was CNY 0.9859, a decrease of 14.08% from CNY 1.1475 in 2020[27]. - The weighted average return on equity for 2021 was 20.49%, an increase of 0.77 percentage points from 19.72% in 2020[27]. - The company reported a net cash flow from operating activities of CNY 728,924,488.35, a decrease of 9.74% from CNY 807,610,785.19 in 2020[24]. - The company’s net profit reached 558 million yuan, a year-on-year increase of 20.28%, with a net profit excluding non-recurring items of 526 million yuan (up 16.69%)[37]. - The company achieved a revenue of 3.89 billion yuan, a year-on-year increase of 18.33%, with food manufacturing revenue at 3.05 billion yuan (up 13.22%) and restaurant business revenue at 725 million yuan (up 48.32%)[37]. Dividend Policy - The company plans to distribute a cash dividend of 4.00 RMB per 10 shares, totaling approximately 226.89 million RMB, which represents 40.69% of the net profit attributable to shareholders[6]. - The company has implemented a cash dividend policy, distributing at least 20% of the distributable profit as cash dividends when there are no major investment plans[136]. - The company distributed a cash dividend of 4.00 RMB per 10 shares to all shareholders[200]. Governance and Compliance - The company has received a standard unqualified audit report from its accounting firm, indicating the financial statements' accuracy and completeness[5]. - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[5]. - The company has not violated any decision-making procedures regarding external guarantees[8]. - The company has not faced any non-operational fund occupation by controlling shareholders or related parties[8]. - The company emphasizes investor relations management through various communication platforms to protect investor interests[106]. - The company has implemented strict measures to ensure the independence of its operations and governance structure[107]. - The company has conducted a thorough review of its governance practices to align with best practices and enhance internal control systems[103]. - The company has not faced any regulatory actions or penalties related to insider trading during the reporting period[106]. Market Expansion and Strategy - The company aims to expand its market share in the food business, particularly in the East China region, while continuing to deepen its presence in the South China market[93]. - The company is actively seeking to expand its market presence outside Guangdong, with an increasing proportion of sales coming from outside the province[101]. - The company plans to enhance its frozen food production capacity, with a focus on the Meizhou base and new facilities in East China to support local market expansion[94]. - The restaurant business will focus on expanding the "Guangzhou Jiujia" and "Taotaoju" brands in key cities outside Guangdong Province, while renovating existing stores to improve brand recognition and customer experience[96]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 300 million RMB allocated for potential deals[116]. Product Development and Innovation - The company increased its R&D investment, resulting in 58 new patents and over 60 new products launched[42]. - The company has launched new product lines, including modern interpretations of traditional Cantonese dishes, to cater to evolving consumer preferences[51]. - The company has launched 13 upgraded mooncake products and significantly increased resources for the Dragon Boat Festival rice dumplings, resulting in substantial revenue growth in this category[40]. - The company has developed multiple dining brands and innovative food products, including upgraded mooncake varieties and a "one-person breakfast project" to meet diverse consumer needs[160]. Risk Management - The company has outlined potential risks in its management discussion and analysis section, which investors should be aware of[10]. - The company faces risks from sporadic outbreaks of COVID-19, which have led to a slowdown in the recovery of its restaurant business, particularly in Guangdong province[98]. - Rising raw material prices pose a risk to the company's profit margins, as the cost of agricultural products fluctuates significantly[101]. - The company is focusing on centralized procurement strategies to manage raw material costs and reduce the impact of price volatility[101]. Social Responsibility and Sustainability - The company has engaged in poverty alleviation and rural revitalization efforts, including industry and consumption assistance in Meizhou, contributing to long-term poverty reduction[164]. - The company has provided nearly 100,000 boxed meals to medical staff and quarantined individuals during the Guangzhou pandemic, demonstrating its commitment to social responsibility[163]. - The company has actively promoted a sustainable development strategy, implementing measures such as paperless offices and energy-saving equipment to reduce carbon emissions[159]. - The company adheres to environmental protection laws and implements various measures to ensure pollution control and waste management, contributing to sustainable development[158]. Employee Management - The total number of employees in the parent company is 1,464, while the main subsidiaries employ 4,017, resulting in a total of 5,481 employees[130]. - The company emphasizes employee training, including new employee orientation and skills training, in collaboration with Sun Yat-sen University to enhance employee capabilities[132]. - The company has established a training school to support continuous skill improvement among employees[132]. - The company has a structured compensation policy that aligns with national labor laws and adjusts based on economic indicators and performance evaluations[131]. Environmental Compliance - The company has established a comprehensive food safety management system to ensure product quality and traceability throughout the supply chain[98]. - The company has constructed two wastewater treatment plants, achieving compliance with the second-stage tertiary standards for wastewater discharge[151]. - The company has implemented an emergency response plan for environmental incidents, which has been filed with the local environmental authority[153]. - The company has established an online monitoring system for wastewater treatment, ensuring real-time compliance with environmental regulations[154].

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,784,230,294.15, representing a year-on-year increase of 10.15%[5] - The net profit attributable to shareholders for the same period was ¥406,180,423.65, reflecting a growth of 16.68% compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥400,814,080.37, with a year-on-year increase of 16.45%[5] - Total operating revenue for the first three quarters of 2021 reached ¥3,016,393,671.51, a 17.7% increase from ¥2,563,054,284.67 in the same period of 2020[28] - Net profit for the third quarter of 2021 was ¥452,099,483.51, up 25.6% from ¥359,948,244.77 in the third quarter of 2020[31] - Operating profit for the third quarter of 2021 was ¥528,300,511.76, an increase from ¥444,075,548.41 in the previous year[30] - Earnings per share (EPS) for the first three quarters of 2021 was ¥0.7844, compared to ¥0.8899 in the same period of 2020[33] Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,316,910,847.99, marking a 38.55% increase from the end of the previous year[8] - Total assets reached ¥5,316,910,847.99, compared to ¥3,837,439,038.37 at the end of 2020, reflecting a growth of approximately 38.5%[19] - Total liabilities increased to ¥2,234,589,812.58 from ¥1,278,519,917.50, marking an increase of about 75%[26] - The company’s total assets amounted to CNY 3,837,439,038.37, a decrease from CNY 4,132,874,540.20, reflecting a decline of about 7.1%[41] - Total liabilities amounted to 1,278,519,917.50, a decrease of 295,435,501.83 compared to the previous period[45] Shareholder Equity - The equity attributable to shareholders increased to ¥2,923,524,218.95, up 15.23% from the previous year-end[8] - The company's equity attributable to shareholders is ¥565,594,658.00, up from ¥403,996,184.00, representing a growth of approximately 40%[26] - The total equity attributable to shareholders reached 2,537,204,840.34, remaining unchanged from the previous period[45] - The company reported a total equity of 2,558,919,120.87 as of the third quarter of 2021[47] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥1,015,012,221.23, showing a slight increase of 1.99% year-on-year[5] - Cash flow from operating activities for the first three quarters of 2021 was ¥3,305,028,919.30, compared to ¥2,778,400,164.66 in the same period of 2020[33] - Net cash flow from operating activities was CNY 1,015,012,221.23, slightly up from CNY 995,243,993.06, indicating a growth of around 2.8%[37] - Operating cash inflow totaled CNY 3,389,034,852.12, an increase from CNY 2,853,307,682.31 in the previous period, reflecting a growth of approximately 18.7%[37] - Operating cash outflow amounted to CNY 2,374,022,630.89, compared to CNY 1,858,063,689.25, representing an increase of about 27.7%[37] Investments and Expenses - The company reported a significant increase in long-term equity investments by 277.64%, attributed to new investments in Hunan Lianmei Food Co., Ltd.[12] - Research and development expenses for the first three quarters of 2021 were ¥56,067,255.21, slightly up from ¥55,228,278.23 in 2020[28] - The company reported a significant increase in investment income to ¥6,067,155.02 from ¥1,204,248.42 in the previous year[30] - Other income for the first three quarters of 2021 was ¥10,748,348.66, compared to ¥6,972,001.33 in the same period of 2020[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 27,352[15] - The largest shareholder, Guangzhou Municipal Government State-owned Assets Supervision and Administration Commission, holds 344,596,090 shares, accounting for 60.93%[15]