证券代码：603719 证券简称：良品铺子 公告编号：2021-033 良品铺子股份有限公司 关于参加湖北上市公司 2021 年度投资者网上集体接待日活动的 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：2021 年 6 月 24 日（星期四）15:30-17:00 ● 会议召开地点："全景•路演天下"（http://rs.p5w.net）网络平台 ● 会议召开方式：网络文字互动 ● 会议问题征集：投资者可在 2021 年 6 月 23 日（星期三）17:00 前将关注 的问题发送至公司电子邮箱（dongban@lppz.com），公司将在湖北上市公司 2021 年度投资者网上集体接待日活动中就投资者普遍关注的问题进行回答。 为进一步加强与广大投资者的互动交流，根据湖北省上市公司协会《关于举 办"真诚沟通，互信共赢"湖北上市公司 2021 年度投资者网上集体接待日活动 的通知》，良品铺子股份有限公司（以下简称"公司"）将于 2021 年 6 月 24 日下 午 15:30-17: ...

2021 年第一季度报告 公司代码：603719 公司简称：良品铺子 良品铺子股份有限公司 2021 年第一季度报告 1 / 26 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 26 2021 年第一季度报告 单位：元 币种：人民币 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 公司负责人杨红春、主管会计工作负责人江慧及会计机构负责人（会计主管人员）于珺保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-------------------------------------------------|----------------- ...

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 343,579,525.05 in 2020, with a proposed cash dividend of RMB 2.57 per 10 shares, totaling RMB 103,057,000.00, which accounts for 30% of the net profit[8]. - The company's operating revenue for 2020 was approximately RMB 7.89 billion, representing a 2.32% increase compared to RMB 7.71 billion in 2019[30]. - The net profit attributable to shareholders for 2020 was approximately RMB 343.58 million, a slight increase of 0.95% from RMB 340.35 million in 2019[30]. - The net assets attributable to shareholders at the end of 2020 were approximately RMB 2.08 billion, reflecting a 47.12% increase from RMB 1.42 billion at the end of 2019[33]. - The total assets at the end of 2020 were approximately RMB 4.18 billion, which is a 9.19% increase from RMB 3.83 billion at the end of 2019[33]. - The basic earnings per share for 2020 was RMB 0.87, down 8.42% from RMB 0.95 in 2019[33]. - The cash flow from operating activities for 2020 was approximately RMB 330.21 million, a decrease of 3.50% from RMB 342.19 million in 2019[33]. - The company reported a non-operating income of ¥68,491,154.35 in 2020, compared to ¥66,827,510.46 in 2019, reflecting a year-over-year increase of approximately 2.5%[40]. - The company reported a net cash flow from operating activities of approximately RMB 330.21 million, a decrease of 3.50% from the previous year[95]. Dividend Policy - The company maintains a cash dividend policy, distributing at least 10% of the annual distributable profit in cash, provided there are no major investment plans or cash expenditures[174]. - The company plans to distribute a cumulative cash dividend of no less than 30% of the average annual distributable profit over the last three years[180]. - In the case of significant capital expenditures, the cash dividend ratio should be at least 40% during the mature phase of the company's development[174]. - The board of directors must obtain approval from more than half of the independent directors for the profit distribution proposal[185]. - The company will review the shareholder return plan at least every three years, considering the opinions of shareholders, independent directors, and supervisors[182]. - The company’s legal reserve fund must not be less than 25% of the registered capital when converted to capital[174]. - The company prioritizes cash dividends while ensuring the sustainability of its operations and long-term development[181]. - The company’s profit distribution policy emphasizes stability and continuity, balancing shareholder returns with long-term interests[171]. - The board must complete the distribution of dividends within two months after the shareholders' meeting resolution[174]. - The company will not use capital reserves to cover losses, ensuring that the legal reserve fund is utilized appropriately[174]. - The company plans to distribute cash dividends of no less than 10% of the distributable profits for each fiscal year, contingent on profitability and cash flow conditions[188]. - In 2020, the company distributed a cash dividend of 2.57 CNY per 10 shares, totaling 103,057,000 CNY, which represented 30% of the net profit attributable to ordinary shareholders[191]. - For 2019, the cash dividend was 2.55 CNY per 10 shares, amounting to 102,255,000 CNY, also at 30.04% of the net profit attributable to ordinary shareholders[191]. - The company will prioritize cash dividends unless there are significant investment plans or cash expenditures exceeding 30% of the latest audited net assets[188]. - The board will propose differentiated cash dividend policies based on the company's development stage and capital expenditure plans, with a minimum cash dividend ratio of 80% for mature companies without major expenditures[188]. - The company may propose stock dividends in addition to cash dividends, provided the minimum cash dividend ratio is maintained[187]. - The future three-year shareholder return plan emphasizes cash dividends while considering shareholder feedback, especially from public and minority investors[188]. - The company has committed to not transferring or managing shares held prior to the IPO for 36 months post-listing, ensuring stability in shareholding[195]. - The company will ensure that any stock dividend distribution aligns with the overall interests of all shareholders[187]. - The board will review and submit the annual dividend plan to the shareholders' meeting based on the company's profitability and future funding needs[188]. Risk Management - The report includes a risk statement indicating potential risks that the company may face, which investors should pay attention to[10]. - The report emphasizes that forward-looking statements do not constitute a commitment to investors, highlighting the importance of investment risk awareness[9]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[10]. - Seasonal sales fluctuations are a risk, with peak demand typically occurring in the first and fourth quarters due to holidays and climate factors, necessitating accurate market forecasting and inventory management[159]. - The company faces risks from raw material price volatility, as key ingredients like nuts and fruits are subject to market fluctuations, which could affect procurement costs and profitability[160]. - Increased competition in the snack food industry poses a risk, as new entrants may challenge the company's market position, potentially leading to decreased sales or lower prices[161]. - The company has implemented a comprehensive quality control system, but remains vulnerable to food safety risks that could harm its brand image and financial performance[162]. - Rising operational costs, including rent, labor, and logistics, could impact the company's profitability as these expenses are expected to increase in the future[166]. - The ongoing uncertainty from the COVID-19 pandemic continues to affect the supply chain and consumer demand, with the company taking measures to mitigate these risks[167]. Business Expansion and Strategy - The company plans to continue expanding its market presence and invest in new product development to drive future growth[36]. - The company opened a total of 622 new stores during the reporting period, expanding into seven new markets, resulting in a total of 2,701 stores across 21 provinces[62]. - The company achieved a leading position in e-commerce with 79 sub-channels on third-party platforms, launching nine new products with over 10 million in sales[63]. - The company has developed multiple advanced food processing technologies, including puffing technology and low-temperature sterilization technology, which are being applied to various products[59]. - The company’s focus on health-oriented product innovation aligns with industry trends, as the retail market for leisure food is projected to exceed 120 billion yuan in 2020[69]. - The company has positioned itself as a leading brand in the leisure food industry, recognized as the first "high-end snack stock" listed on the Shanghai Stock Exchange[71]. - The company plans to continue expanding its presence in Central China and solidifying its position in Southern China while advancing into Eastern and Northern markets[94]. - The company aims to expand its product lineup targeting niche markets, leveraging its technology and supply chain advantages to cover various categories and drive sustained high growth in these segments[153]. - In 2021, the company plans to enhance online and offline channel integration, focusing on user operations and aligning product development with consumer needs, while expanding its physical store presence across the country[153]. Research and Development - The company invested 3,371.70 million RMB in R&D, an increase of 23.22% year-on-year, and developed seven key patented technologies[89]. - The company has a high-level R&D team of 45 members, with 92% holding master's or doctoral degrees, enhancing its competitive edge in product development[78]. - The company’s R&D strategy is driven by user needs, focusing on health and nutrition, with a commitment to continuous technological innovation[55]. - The company’s processing technology research aims to develop proprietary techniques that enhance product quality and efficiency[58]. - The company established a digital platform that processed 10.75T of historical data, improving data timeliness by 30% and computational power by 3.75 times[81]. - The company has established a supplier collaboration system to enhance supply chain efficiency, focusing on product development collaboration and centralized procurement of bulk raw materials[154]. - The company has developed a product matrix covering over 1,200 SKUs to meet diverse consumer demands, but faces risks from significant changes in consumer preferences that could impact sales[155].

Financial Performance - Operating income for the first nine months was ¥5,529,868,543.81, representing a slight increase of 1.29% compared to the same period last year[18]. - Net profit attributable to shareholders of the listed company was ¥263,648,413.14, a decrease of 16.15% year-on-year[18]. - Basic earnings per share for the period was ¥0.67, a decrease of 22.99% compared to the same period last year[20]. - The weighted average return on net assets decreased by 11.07 percentage points to 14.41%[20]. - Total operating revenue for Q3 2020 was approximately ¥1.92 billion, a slight decrease of 1.8% compared to ¥1.96 billion in Q3 2019[56]. - Operating profit for Q3 2020 was approximately ¥135.25 million, down 17.5% from ¥163.99 million in Q3 2019[61]. - Net profit for Q3 2020 was approximately ¥101.52 million, a decrease of 16.7% compared to ¥121.84 million in Q3 2019[61]. - The company reported a total comprehensive income attributable to shareholders of approximately ¥102.73 million in Q3 2020, compared to ¥119.22 million in Q3 2019[62]. - The company reported a decrease in total comprehensive income for the first three quarters of 2020 to CNY 237.60 million from CNY 71.68 million in the same period of 2019[77]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,941,597,244.45, an increase of 2.87% compared to the end of the previous year[18]. - Current assets totaled RMB 3,154,165,275.44, up from RMB 3,014,904,523.23 in the previous year, indicating an increase of about 4.63%[40]. - Total liabilities decreased to RMB 1,938,165,323.00 from RMB 2,366,542,162.20, a decline of about 18.06%[46]. - The total liabilities of the company stand at approximately $2.37 billion, indicating a significant leverage position[92]. - The company has $521.51 million in fixed assets, indicating substantial investment in physical capital[89]. - Total liabilities were reported at $470,297,618.98, with non-current liabilities at $1,437,500.00[101]. Shareholder Information - Net assets attributable to shareholders of the listed company amounted to ¥2,002,666,763.13, reflecting a significant increase of 41.47% year-on-year[18]. - The total number of shareholders at the end of the reporting period was 32,682[26]. - The largest shareholder, Ningbo Hanyi Investment Management Partnership, held 37.30% of the shares, with 26,000,000 shares pledged[26]. - Shareholders' equity increased to RMB 2,003,431,921.45 from RMB 1,465,152,471.39, representing a growth of approximately 36.66%[46]. Cash Flow - The net cash flow from operating activities for the first nine months was ¥88,828,357.49, down 74.50% from the previous year[18]. - The net cash flow from investment activities was -¥403,844,916.78, a reduction compared to the previous year due to decreased bank financial investments[36]. - The net cash flow from financing activities was ¥370,257,110.26, primarily influenced by funds raised from the IPO and cash dividend payments[36]. - The cash inflow from operating activities totaled 745,657,421.54 RMB, down from 920,787,562.19 RMB, indicating a decline in operational cash generation[84]. - The total cash outflow from investing activities was 441,498,423.61 RMB, down from 664,590,419.09 RMB, resulting in a net cash flow from investing activities of -403,844,916.78 RMB[82]. Expenses - Research and development expenses increased to approximately ¥7.96 million in Q3 2020, up 29.5% from ¥6.14 million in Q3 2019[59]. - Sales expenses for Q3 2020 were approximately ¥422.07 million, an increase of 12.8% compared to ¥373.80 million in Q3 2019[59]. - Operating expenses increased to CNY 53.47 million in Q3 2020 from CNY 34.02 million in Q3 2019, marking a rise of 57.5%[70]. - The cash paid for employee compensation was 547,185,285.46 RMB, slightly up from 526,467,119.50 RMB[82]. - The cash paid for taxes increased to 416,289,993.02 RMB from 357,518,669.82 RMB, reflecting a 16.5% rise[82]. Changes in Financial Reporting - The company reclassified $150.06 million from advance receipts to contract liabilities and other current liabilities due to the new revenue recognition standards[95]. - Contract liabilities were reported at $140.93 million, reflecting the company's obligations for unfulfilled contracts[95]. - The company has adopted the new revenue recognition standards since January 1, 2020, impacting the financial reporting structure[102].

公司代码：603719 公司简称：良品铺子 2020 年半年度报告 良品铺子股份有限公司 2020 年半年度报告 1 / 163 2020 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人杨红春、主管会计工作负责人江慧及会计机构负责人（会计主管人员）于珺声明： 保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 公司2020年半年度不进行利润分配、公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 公司已在本报告中描述公司可能面临的风险，敬请投资者予以关注，详见第四节"经营情况 讨论与分析"中" ...

Financial Performance - Operating revenue for the period was CNY 1,908,931,177.93, representing a year-on-year increase of 4.16%[14] - Net profit attributable to shareholders of the listed company decreased by 19.43% to CNY 87,979,426.00[14] - Basic earnings per share decreased by 20.00% to CNY 0.24[14] - The company reported a significant increase in minority shareholders' profit, amounting to RMB 3,366,715.50, due to improved performance from a subsidiary[30] - Total revenue for Q1 2020 was approximately ¥1.91 billion, an increase from ¥1.83 billion in Q1 2019, representing a growth of about 4%[51] - Net profit for Q1 2020 was approximately ¥121.51 million, compared to ¥117.79 million in Q1 2019, reflecting a growth of about 3%[51] - The company reported a decrease in sales expenses to approximately ¥386.62 million from ¥396.16 million in Q1 2019, a reduction of about 2%[52] - The total profit for Q1 2020 was CNY 123,871,890.30, a decrease of 15.6% from CNY 146,740,848.10 in Q1 2019[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,725,050,915.96, a decrease of 2.78% compared to the end of the previous year[14] - The company's total equity increased to RMB 1,977,371,794.69 from RMB 1,465,152,471.39, representing a growth of approximately 35%[42] - Total liabilities decreased to RMB 1,747,679,121.27 from RMB 2,366,542,162.20, reflecting a reduction of about 26.1%[42] - The company's cash and cash equivalents were RMB 1,856,412,089.38, up from RMB 1,523,677,625.79 year-on-year[36] - Total current assets amounted to RMB 2,916,406,199.22, a decrease from RMB 3,014,904,523.23 in the previous year[36] - The company reported fixed assets of ¥521,509,661.82 and intangible assets of ¥163,503,540.80[69] - The company holds long-term equity investments valued at approximately $268.06 million, indicating a strategic investment approach[80] Cash Flow - Net cash flow from operating activities was CNY 59,954,403.15, down 16.33% from the previous year[14] - The net cash flow from financing activities was RMB 443,789,664.88, resulting from funds raised through the company's initial stock issuance[31] - The net cash flow from investment activities was -96,478,256.06 RMB, improving from -191,927,442.88 RMB, indicating a reduction in losses[62] - The net increase in cash and cash equivalents was 407,265,811.97 RMB, compared to a decrease of 120,268,075.35 RMB in the previous period[64] - Cash inflow from financing activities reached 445,466,080.00 RMB, with cash outflow totaling 1,676,415.12 RMB, resulting in a net cash flow of 443,789,664.88 RMB[64] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,596[20] - The largest shareholder, Ningbo Hanyi Investment Management Partnership, held 37.30% of the shares[20] - The company issued 41 million A-shares at a price of RMB 11.90 per share, raising a total of RMB 487.9 million, with a net amount of RMB 420.87 million after deducting issuance costs[32] Changes in Financial Position - Accounts receivable decreased by 30.45% to RMB 179,802,090.13, primarily due to reduced online sales[26] - Inventory saw a substantial decline of 42.08%, ending at RMB 562,311,124.60, attributed to seasonal sales fluctuations[26] - The company's capital reserve rose by 90.84% to RMB 798,053,956.19, due to the premium from the initial public offering[29] - The company experienced a 99.66% decrease in advance receipts, now classified as contract liabilities under new revenue recognition standards[26] - The company reclassified ¥150,064,379.08 from advance receipts to contract liabilities and other current liabilities due to the new revenue recognition standards[76] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 17,425,577.65 during the reporting period[16] - Other income dropped by 52.50% to RMB 17,425,577.65, mainly due to a reduction in government subsidies received[29] - The company reported other income of CNY 90,422.60 in Q1 2020, significantly lower than CNY 24,313,429.00 in Q1 2019[56]

Financial Performance - Operating income for the period was CNY 1,908,931,177.93, representing a year-on-year increase of 4.16%[14] - Net profit attributable to shareholders of the listed company decreased by 19.43% to CNY 87,979,426.00[14] - Basic earnings per share decreased by 20.00% to CNY 0.24[14] - The company's other income decreased by 52.50% to RMB 17,425,577.65, mainly due to a reduction in government subsidies received[29] - Total operating revenue for Q1 2020 was approximately ¥1.91 billion, an increase from ¥1.83 billion in Q1 2019, representing a growth of about 4%[51] - Net profit for Q1 2020 was approximately ¥91.35 million, compared to ¥109.98 million in Q1 2019, reflecting a decrease of about 17%[54] - The total profit for Q1 2020 was approximately ¥123.87 million, down from ¥146.74 million in Q1 2019, indicating a decline of about 16%[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,725,050,915.96, a decrease of 2.78% compared to the end of the previous year[14] - The company's total liabilities decreased to ¥1,747,679,121.27 from ¥2,366,542,162.20, a reduction of about 26.1%[41] - The total assets as of March 31, 2020, were ¥3,725,050,915.96, down from ¥3,831,694,633.59, reflecting a decrease of about 2.8%[41] - The company reported a total liability of CNY 2,366,542,162.20, with current liabilities amounting to CNY 2,358,541,749.18[70] - The company’s total non-current liabilities are CNY 8,000,413.02, indicating a stable long-term financial position[70] Shareholder Information - Net assets attributable to shareholders of the listed company increased by 35.95% to CNY 1,924,446,943.46[14] - The company had a total of 200 shareholders at the end of the reporting period[20] - The largest shareholder, Ningbo Hanyi Investment Management Partnership, held 37.30% of the shares[20] - The second largest shareholder, Dayong Limited, held 30.30% of the shares[20] Cash Flow - Net cash flow from operating activities was CNY 59,954,403.15, down 16.33% from the previous year[14] - The cash inflow from operating activities totaled ¥2,004,442,534.57, down from ¥2,118,210,252.77 in Q1 2019[61] - The cash outflow from operating activities was ¥1,944,488,131.42, compared to ¥2,046,550,885.24 in Q1 2019[61] - The cash inflow from financing activities was 445,466,080.00 RMB, while the cash outflow was 1,676,415.12 RMB, resulting in a net cash flow of 443,789,664.88 RMB[65] Inventory and Receivables - Accounts receivable decreased by 30.45% to RMB 179,802,090.13, primarily due to a reduction in online sales[26] - Inventory decreased by 42.08% to RMB 562,311,124.60, attributed to seasonal fluctuations in sales[26] - The company's accounts receivable decreased to ¥179,802,090.13 from ¥258,523,157.41, a decline of about 30.5%[37] - Inventory levels significantly dropped to ¥562,311,124.60 from ¥970,818,284.66, indicating a reduction of approximately 42.1%[37] Capital and Reserves - The company's capital reserve increased by 90.84% to RMB 798,053,956.19, due to the premium from the initial public offering[29] - The company issued 41 million shares at RMB 11.90 per share, raising a total of RMB 487,900,000.00, with a net amount of RMB 420,873,181.81 after deducting issuance costs[32] - The company’s retained earnings stand at CNY 624,284,085.48, reflecting its accumulated profits[73] - The capital reserve totals approximately $399.31 million[81] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[51] - The company continues to focus on cash management strategies to improve liquidity amid fluctuating cash flows[65] - The company has implemented new revenue and leasing standards starting from 2020, which may impact future financial reporting[65]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 340,354,071.37 in 2019[6] - The company's operating revenue for 2019 was CNY 7,714,992,860.91, representing a 20.97% increase compared to CNY 6,377,558,563.11 in 2018[27] - The net profit attributable to shareholders for 2019 was CNY 340,354,071.37, which is a 42.68% increase from CNY 238,539,857.47 in 2018[27] - The net cash flow from operating activities for 2019 was CNY 342,192,635.83, showing a significant increase of 130.94% compared to CNY 148,171,014.38 in 2018[30] - The basic earnings per share for 2019 was CNY 0.95, up 43.94% from CNY 0.66 in 2018[30] - The company's total assets at the end of 2019 were CNY 3,831,694,633.59, a 20.39% increase from CNY 3,182,760,457.56 at the end of 2018[30] - The net profit after deducting non-recurring gains and losses for 2019 was CNY 273,526,560.91, which is a 31.78% increase from CNY 207,564,323.36 in 2018[30] - The company reported a weighted average return on equity of 27.30% for 2019, an increase of 2.38 percentage points from 24.92% in 2018[30] - The net assets attributable to shareholders at the end of 2019 were CNY 1,415,594,335.65, reflecting a 31.48% increase from CNY 1,076,663,741.62 at the end of 2018[30] - The company achieved quarterly revenues of CNY 2,255,325,443.52 in Q4 2019, marking a strong performance in the last quarter[33] Dividend Policy - The board proposed a cash dividend of RMB 2.55 per 10 shares, totaling RMB 102,255,000.00, which represents 30.04% of the net profit[6] - The company aims to distribute at least 10% of its distributable profits as cash dividends annually, provided it meets certain conditions[179] - In the case of major capital expenditures, the company plans to maintain a cash dividend ratio of at least 40% during its mature phase[179] - The company’s legal reserve fund must exceed 50% of its registered capital before it can cease further contributions[174] - The board of directors must consider various factors, including industry characteristics and competitive positioning, when formulating profit distribution policies[179] - The company is committed to maintaining a stable and continuous profit distribution policy while ensuring long-term sustainability[179] - The company will actively adopt cash dividends as a preferred method of profit distribution, subject to operational needs[175] - The company’s profit distribution policy adjustments require approval from a majority of the board and independent directors, ensuring shareholder interests are considered[181] - The company plans to distribute at least 10% of its distributable profits as cash dividends annually, with a cumulative cash distribution of no less than 30% of the average annual distributable profits over the last three years[184] - The cash dividend ratio will vary based on the company's development stage, with a minimum of 80% for mature companies without major expenditures and 40% for those with significant spending plans[188] - The company emphasizes a stable and sustainable profit distribution policy, taking into account the needs of small and medium investors and external financing conditions[185] - The board of directors must approve the profit distribution proposal, which then requires a two-thirds majority vote from shareholders at the general meeting[187] - The company will not conduct capital reserve transfers to increase share capital for the 2019 fiscal year[194] Risk Management - The report includes a risk statement indicating potential risks that the company may face, which investors should be aware of[8] - The report emphasizes the importance of investor awareness regarding forward-looking statements and associated risks[7] - The company expects to face risks related to seasonal sales fluctuations, particularly in the first and fourth quarters[165] - The company is exposed to raw material price volatility, which could impact its procurement costs and profitability[166] - The company has established a comprehensive quality control system covering procurement, warehousing, distribution, and sales, but still faces risks related to food safety due to factors like raw material supply and transportation conditions[168] Market Strategy and Expansion - The company plans to continue expanding its market presence and invest in new product development to drive future growth[1] - The company has established a multi-channel sales model, integrating new retail strategies across physical stores, e-commerce platforms, community group buying, mobile apps, and O2O delivery services[61] - The company has developed a digital model for precise marketing, targeting various consumer segments through social media and video platforms[75] - The company aims to capture the high-end snack market by aligning with the trends of health and nutrition in consumer preferences[71] - The company has implemented a "high-end snack" strategy, focusing on product quality, consumer experience, and differentiation in the market[75] - The company upgraded 12 classic products and launched several high-end series products, enhancing consumer recognition of its high-end snacks[78] - The company has received multiple international food awards, showcasing its commitment to high-quality product development[78] - The company aims to enhance product development investment and improve supply chain standards to support its high-end snack strategy[160] Sales and Revenue - The company reported a total revenue of 66,827,510.46 RMB, with a net loss of 74,327,185.99 RMB for the reporting period[39] - In 2019, the company's sales reached 9.737 billion yuan across various channels, establishing it as a well-known brand in the industry[71] - The company's main business revenue reached CNY 7,600.29 million, a year-on-year increase of 20.22%[89] - Online revenue accounted for 48.58% of total revenue, while offline revenue accounted for 51.42%[89] - The gross margin for the main business was 32.15%, an increase of 0.86 percentage points year-on-year[89] - The company reported a significant increase in online business revenue, contributing to overall growth[103] - The wholesale franchise sales segment saw a revenue increase of 16.70% year-on-year, with a gross margin of 21.99%[96] - The company expanded its market presence in East and South China, resulting in significant sales growth in these regions[103] Product Development and Innovation - The company has developed over 1,400 SKUs, covering various categories including meat snacks, nuts, candies, and dried fruits[40] - The company established a food nutrition and health research institute to enhance product development and innovation[78] - The company’s product operation model focuses on new product innovation and mature product management to meet diverse consumer needs[56] - R&D expenses rose by 31.50% compared to the previous year, reflecting increased investment in innovation[94] - Total research and development investment was 27.36 million yuan, representing 0.35% of operating revenue[109] - The company had 137 R&D personnel, making up 1.33% of the total workforce[112] Supply Chain and Logistics - The company has established a supply chain management model that includes comprehensive control over procurement, warehousing, logistics, and delivery[57] - The company improved its logistics efficiency, with warehouse utilization rising from 50% to 70%[86] - The OMS order processing capacity reached 200 million orders per hour, supporting over 6 million online transactions daily[87] - The company has optimized its supply chain management, engaging over 300 suppliers in a rating system[86] - The company operates six self-owned warehouses and collaborates with third-party logistics providers across multiple regions, enhancing its supply chain efficiency[133] - The company has implemented a data-driven inventory management system, optimizing stock turnover and reducing the risk of stockouts[135] Membership and Customer Engagement - The total number of reachable members across all channels is 80 million, with over 40 million key maintained members as of March 2020, and member sales accounted for approximately 57.4% of total sales[142] - Membership acquisition through the mini-program increased by over 80% year-on-year, with monthly sales during the New Year Festival up over 200%[79] - The proportion of high-end members, such as Tmall 88Vip and JD Plus members, has seen double growth, indicating an increase in customer loyalty and spending[78] - The company’s marketing strategies include various promotional activities such as theme promotions and membership discount cards, which are accounted for based on net amounts after discounts[143] Corporate Governance - The audit report issued by PwC confirms the financial statements are accurate and complete[5] - The board of directors and supervisory board members were present at the meeting, ensuring governance compliance[5] - The company has no non-operating fund occupation by controlling shareholders or related parties[8] - The controlling shareholder Ningbo Hanyi and its concerted parties committed not to transfer or entrust the management of shares held before the public offering for 36 months from the date of listing[198] - If the company's stock price falls below the issue price for 20 consecutive trading days within 6 months post-listing, the lock-up period will automatically extend by 6 months[198]