2022年年度报告 公司代码：603779 公司简称：威龙股份 威龙葡萄酒股份有限公司 2022 年年度报告 ...

Financial Performance - The net profit attributable to shareholders for 2022 was CNY 11,789,526.38, a significant recovery from a loss of CNY 414,035,672.13 in 2021[4] - The total revenue for 2022 reached CNY 498,838,849.30, representing a year-on-year increase of 5.24% compared to CNY 473,988,432.67 in 2021[20] - The basic earnings per share for 2022 was CNY 0.04, recovering from a loss of CNY 1.24 per share in 2021[21] - The weighted average return on equity increased to 1.69% in 2022, up by 26.69 percentage points from -25.00% in 2021[21] - The total non-recurring gains and losses for 2022 amounted to CNY 1.54 million, reflecting the company's focus on sustainable profitability[24] - The company reported a net cash flow from operating activities of CNY 53,449,660.99, a decrease of 10.58% from CNY 59,771,200.62 in the previous year[20] - The company achieved operating revenue of ¥498,838,849.30 in 2022, representing a year-on-year growth of 5.24%[34] - The company reported a net profit of 558,100, reflecting a growth of 9.5% from the previous year[100] Assets and Liabilities - The total assets at the end of 2022 were CNY 1,436,279,805.04, showing a slight increase of 0.53% from CNY 1,428,640,571.80 in 2021[20] - The net assets attributable to shareholders at the end of 2022 were CNY 707,573,850.77, an increase of 2.50% from CNY 690,316,351.57 in 2021[20] - The company's total assets include overseas assets valued at ¥336,830,900.73, accounting for 23.45% of total assets[54] - The company's total liabilities decreased slightly to RMB 728,603,139.25 from RMB 738,324,220.23, a decline of approximately 1.0%[187] - The company's short-term borrowings were reported at RMB 297,480,930.00, down from RMB 326,226,700.00, representing a decrease of about 8.8%[187] Revenue and Sales - In 2022, the company's total revenue was approximately CNY 498 million, with a net profit attributable to shareholders of CNY 11 million, showing a significant recovery from a net loss of CNY 8.9 million in Q2 2022[24] - The company’s revenue from low-end wine sales was ¥33,358.53 million, a year-on-year increase of 5.84%[62] - The sales volume for the Zhejiang East sales area accounted for 32.73% of total sales, with revenue of RMB 15,492.06 million, up 15.09% year-on-year[75] - Online sales revenue totaled RMB 1,379.93 million, representing a year-on-year increase of 13.83%[75] - The Southern sales area reported a revenue increase of 14.13%, totaling RMB 3,605.31 million[76] Costs and Expenses - The cost of sales decreased by 0.73% to ¥258,058,320.39, while sales expenses dropped by 18.82% to ¥90,197,642.18[36] - The cost of organic wine raw materials increased by 23.66% to 108,784,145.54, accounting for 42.15% of total costs[43] - Raw material costs accounted for 68.30% of total costs, amounting to RMB 17,625.67 million, an increase of 23.34% year-on-year[76] - The company reported a decrease in operating costs to CNY 206,838,663.70 from CNY 212,857,925.03 in 2021, reflecting a cost reduction strategy[195] Research and Development - Research and development expenses increased by 5.43% to ¥1,421,774.92, indicating a focus on innovation[36] - The R&D department has reported a 12% increase in budget allocation for new technology initiatives aimed at improving product quality[100] - Research and development expenses for 2022 were CNY 424,708.56, slightly up from CNY 415,304.86 in 2021, indicating continued investment in innovation[195] Marketing and Product Development - The company launched new products in 2022, focusing on organic wine and expanding its product line to include different styles of brandy and sweet wines, enhancing its market adaptability[27] - The marketing strategy emphasizes a "135" approach, focusing on product differentiation and targeted regional marketing, which has led to positive consumer feedback[26] - The company plans to develop exclusive online products to enhance its online sales strategy[74] - The company is focusing on expanding its market presence amid increasing competition from imported wines[80] Corporate Governance and Management - The company has established a robust corporate governance structure, holding five shareholder meetings and ten board meetings in the reporting period[89] - The internal control system is being enhanced to ensure operational safety and efficiency, aligning with regulatory requirements[90] - The company has a strategic committee, audit committee, nomination committee, and compensation and assessment committee, with specific members designated for each[115] - The company has established a transparent performance evaluation and incentive mechanism for senior management, linking compensation to annual operating performance and evaluation results[124] Environmental and Social Responsibility - The company has implemented environmental protection measures, including real-time monitoring systems at production sites, ensuring wastewater discharge meets national standards[128] - Wastewater from the company's production facilities has been treated to meet standards, with COD concentrations reported at 31 mg/L and 45 mg/L, both below regulatory limits[129] - The company has not faced any administrative penalties related to environmental issues during the reporting period[130] Future Outlook - The company plans to expand its market presence through new product development and strategic acquisitions[99] - The company anticipates a favorable market outlook due to the rising demand for organic wines among health-conscious consumers[80] - The company plans to enhance brand image and influence through multi-channel marketing and consumer engagement activities[83] - The company aims to expand its own wine raw material base and marketing network, forming a vertically integrated operation model in the wine industry[82]

Financial Performance - The company's operating revenue for Q1 2023 was ¥63,377,320.42, representing a decrease of 55.46% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥17,735,810.99, indicating a significant loss[5]. - The basic earnings per share for the period was -¥0.05, showing a negative performance[6]. - The company reported a net loss of RMB 239,474,461.37, worsening from a loss of RMB 221,738,650.38 in the previous period[16]. - Other comprehensive income for Q1 2023 was a loss of ¥6,112,189.53, compared to a gain of ¥8,738,171.99 in Q1 2022[18]. - The company reported a total comprehensive income of -¥23,846,135.61 for Q1 2023, compared to ¥17,792,063.68 in Q1 2022[19]. Cash Flow - The net cash flow from operating activities was -¥7,049,031.59, reflecting a decline in cash inflow[5]. - Cash inflow from operating activities in Q1 2023 was ¥90,480,153.77, down 27.4% from ¥124,530,659.18 in Q1 2022[20]. - Total cash outflow from operating activities amounted to $97,529,185.36, down from $122,663,821.42 year-over-year[21]. - The net cash flow from investment activities was -$942,745.48, slightly worse than -$911,311.53 in the previous year[21]. - The net cash flow from financing activities was -$15,208,476.44, compared to -$14,143,030.19 in the previous year[21]. - The cash and cash equivalents at the end of the period were $21,893,691.15, a decrease from $22,534,745.36 in the previous year[21]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,405,130,443.76, down 2.17% from the previous year[6]. - The total liabilities decreased to RMB 721,299,913.58 from RMB 728,603,139.25, reflecting a decline of about 1%[16]. - The equity attributable to shareholders decreased to RMB 683,725,850.25 from RMB 707,573,850.77, a decrease of approximately 3.4%[16]. - Total current liabilities decreased to RMB 587,486,926.62 from RMB 593,446,000.63, a reduction of approximately 1%[16]. Research and Development - The company's R&D expenses increased by 241.77%, attributed to the development of new wine products[8]. - Research and development expenses increased to ¥2,862,970.15 in Q1 2023, up 241.5% from ¥837,691.15 in Q1 2022[17]. - The company has ongoing research and development efforts for new products, although specific details were not disclosed in the report[13]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,021[10]. - The top shareholder, Shenzhen Shiqian Investment Development Co., Ltd., held 19.97% of the shares, totaling 66,439,600 shares[10]. Future Outlook - Future outlook includes potential market expansion strategies, but no specific figures or timelines were provided[13]. - The company plans to focus on market expansion and new product development to improve future performance[17].

威龙葡萄酒股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 2022 年第三季度报告 证券代码：603779 证券简称：威龙股份 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 105,379,223.90 | 17.57 | 329,826,504.80 | -0.94 | | ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 224,447,280.90, a decrease of 7.76% compared to CNY 243,325,652.87 in the same period last year[19]. - The net profit attributable to shareholders was CNY 128,205.80, a significant recovery from a loss of CNY 1,212,455.88 in the previous year[19]. - The net cash flow from operating activities increased by 12.44% to CNY 8,755,095.43 from CNY 7,786,709.97[19]. - The total assets at the end of the reporting period were CNY 1,411,979,655.03, down 1.17% from CNY 1,428,640,571.80 at the end of the previous year[19]. - The company's net assets attributable to shareholders were CNY 690,033,457.10, a slight decrease of 0.04% from CNY 690,316,351.57[19]. - The weighted average return on net assets increased by 0.13 percentage points to 0.02% from -0.11% in the previous year[20]. - The company reported a total profit of CNY 3,031,656.31, compared to CNY 5,395,534.95 in the first half of 2021, reflecting a decrease of 43.9%[86]. - The tax expense for the first half of 2022 was CNY 2,903,450.51, down from CNY 6,607,990.83 in the previous year[86]. - Comprehensive income for the first half of 2022 was CNY -282,894.47, compared to CNY -17,626,400.59 in the same period of 2021, indicating an improvement[86]. Operational Highlights - The company maintained its leading position in the organic wine production sector, with multiple technologies certified by various international organizations[23]. - The company continues to focus on the complete industry chain from grape planting to wine production and sales[23]. - The company has established a nationwide marketing network combining self-operated branches, regional distributors, supermarkets, e-commerce, and group purchases, effectively covering the entire country[27]. - The company has developed its own organic grape planting bases in Gansu, Australia, and Xinjiang, ensuring high-quality raw materials for wine production[26]. - The company focuses on product differentiation with a marketing strategy centered on organic wines, particularly promoting the Weilang International Winery series and the Weilang Marselan organic series[29]. - In 2022, the company continued to innovate by developing new products, including different grades of brandy and various flavored wines, to meet market demand[31]. - The company has a complete industrial chain from grape seedling breeding to wine production, which enhances its market response and risk resistance capabilities[27]. - The company has a strong management team with experienced professionals in the wine industry, ensuring a competitive advantage in technology, marketing, and management[28]. Financial Position - The company's total liabilities increased by 48.85% to CNY 71,993,769.65, primarily due to an increase in endorsed receivables[36]. - The income tax expense decreased by 56.06% to CNY 2,903,450.51, attributed to the reversal of deferred tax expenses from profitable subsidiaries[33]. - The company’s management expenses decreased by 24.05% to CNY 20,371,327.65, mainly due to reduced depreciation and amortization[32]. - The company reported a significant increase in asset disposal gains, which rose by 306.39% to CNY 213,156.15[32]. - The company’s cash and cash equivalents decreased to ¥22,063,019.68 from ¥37,257,601.06, representing a decline of approximately 40.7%[78]. - Accounts receivable increased significantly to ¥59,371,495.77 from ¥27,440,924.11, marking an increase of about 116.5%[78]. - Total current assets decreased marginally from ¥699,667,654.52 to ¥697,572,118.98, reflecting a decrease of about 0.3%[78]. - Total liabilities decreased from ¥738,324,220.23 to ¥721,946,197.93, a decline of about 2.0%[80]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 22,760[68]. - The largest shareholder, Shenzhen Shiqian Investment Development, held 71,710,000 shares, accounting for 21.55% of the total shares[70]. - Shareholder Yang Guangdi reduced holdings by 3,327,491 shares, accounting for 10.73% of his total shares, and 6,654,983 shares, accounting for 21.47% of his total shares[57]. - Shareholder Zhongtie Baoying Asset Management reduced holdings by 3,327,491 shares, accounting for 15.58% of his total shares, and 6,654,983 shares, accounting for 31.16% of his total shares[57]. - The company did not propose any profit distribution or capital reserve transfer plans for the half-year period[50]. Environmental Compliance - The company’s wastewater discharge meets environmental standards, with COD concentrations of 28 mg/L and 30 mg/L at different facilities, below regulatory limits[52][53]. - The company has implemented a gas boiler system across its production facilities, ensuring emissions are below required standards[52]. - There were no administrative penalties related to environmental issues during the reporting period[54]. Accounting Policies - The financial statements were approved by the board of directors on August 30, 2022[110]. - The accounting policies are in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and transparency[114]. - The company prepares consolidated financial statements based on the entire corporate group as a single accounting entity, reflecting the overall financial position, operating results, and cash flows[122]. - The company offsets the effects of internal transactions between subsidiaries in the consolidated financial statements, fully recognizing any impairment losses on related assets[122]. - The company recognizes expected credit losses for receivables and contract assets based on the expected credit loss model[155]. Risk Factors - The wine industry is subject to fluctuations in consumer demand due to macroeconomic factors, and the company faces risks from increasing foreign wine imports impacting domestic brands[42]. - The company is experiencing rising storage costs due to delays in transporting raw wine from its Australian winery, which may affect future production[42]. - The company plans to strengthen its market share by developing new markets while consolidating existing ones[42].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 142,298,033.95, representing a decrease of 2.08% compared to the same period last year[5]. - The net profit attributable to shareholders for Q1 2022 was CNY 9,053,891.69, showing a significant increase of 2,189.36% year-on-year[5]. - Total operating revenue for Q1 2022 was ¥142,298,033.95, a decrease of 2.1% from ¥145,326,458.27 in Q1 2021[18]. - Net profit for Q1 2022 reached ¥9,053,891.69, significantly up from ¥395,476.58 in Q1 2021, representing a growth of 2,187.5%[19]. - The total comprehensive income attributable to the parent company was CNY 17,792,063.68, a significant recovery from a loss of CNY -1,215,164.23 in Q1 2021[20]. Assets and Liabilities - The total assets at the end of Q1 2022 were CNY 1,399,334,132.41, down 2.05% from the end of the previous year[6]. - The company's total assets as of Q1 2022 were ¥1,399,334,132.41, a decrease from ¥1,428,640,571.80 in the previous year[16]. - Total liabilities for Q1 2022 amounted to ¥691,225,717.16, down from ¥738,324,220.23 in Q1 2021, reflecting a reduction of 6.4%[15]. - The equity attributable to shareholders increased by 2.58% to CNY 708,108,415.25 compared to the end of the previous year[6]. - The total equity attributable to shareholders increased to ¥708,108,415.25 from ¥690,316,351.57, an increase of 2.6%[16]. Cash Flow - The net cash flow from operating activities decreased by 33.34% to CNY 1,866,837.76 compared to the previous year[5]. - In Q1 2022, the company reported a net cash flow from operating activities of CNY 1,866,837.76, a decrease of 33.2% compared to CNY 2,800,570.00 in Q1 2021[22]. - The net cash flow from investing activities was negative at CNY -911,311.53, an improvement from CNY -3,306,153.13 in Q1 2021[23]. - The net cash flow from financing activities was CNY -14,143,030.19, showing an improvement from CNY -25,725,185.02 in the previous year[24]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 20,754[10]. - The top shareholder, Shenzhen Shiqian Investment Development Co., Ltd., held 22.29% of the shares, totaling 74,183,000 shares[10]. - Basic and diluted earnings per share were both CNY 0.03, consistent with the previous year[20]. Operational Costs and Expenses - Total operating costs for Q1 2022 were ¥128,573,443.17, down 11.0% from ¥144,404,300.16 in Q1 2021[18]. - Research and development expenses for Q1 2022 were ¥837,691.15, down from ¥996,497.60 in Q1 2021, a decrease of 15.9%[18]. - The company reported a financial expense of ¥5,574,525.33, down from ¥6,632,060.77, a reduction of 15.9%[19]. Cash and Cash Equivalents - Cash and cash equivalents decreased by 35.71% primarily due to the repayment of short-term loans during the period[7]. - The company's cash and cash equivalents decreased to ¥677,923,152.15 from ¥699,667,654.52, indicating a decline of 3.1%[16]. - Cash and cash equivalents at the end of the period stood at CNY 22,534,745.36, down from CNY 42,755,033.24 at the end of Q1 2021, reflecting a decrease of 47.3%[24]. Government Subsidies - The company received government subsidies amounting to CNY 174,511.93 during the reporting period, which was closely related to its normal business operations[7].

Financial Performance - The net profit attributable to shareholders for 2021 was -414,035,672.13 RMB, representing an increase in losses of 88.40% compared to -219,761,772.64 RMB in 2020[6]. - The operating revenue for 2021 was 473,988,432.67 RMB, which is a 20.76% increase from 392,499,745.83 RMB in 2020[21]. - The basic earnings per share for 2021 was -1.24 RMB, a decline of 87.88% compared to -0.66 RMB in 2020[22]. - The weighted average return on equity for 2021 was -25.00%, a decrease of 7.42 percentage points from -17.58% in 2020[23]. - The company reported a significant increase in losses from non-recurring items, with a net profit of -370,587,362.91 RMB, up 102.36% from -183,129,770.00 RMB in 2020[21]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year 2021, representing a growth of 15% compared to the previous year[101]. - The company reported a total comprehensive loss of CNY 457,265,498.94 in 2021, compared to a loss of CNY 208,391,264.04 in 2020, reflecting an increase in comprehensive loss of about 119.8%[192]. Cash Flow and Assets - The cash flow from operating activities for 2021 was 59,771,200.62 RMB, up 21.65% from 49,134,716.34 RMB in 2020[21]. - The total assets at the end of 2021 were 1,428,640,571.80 RMB, a decrease of 24.42% from 1,890,180,065.10 RMB at the end of 2020[21]. - The company's cash and cash equivalents were reported at ¥37,257,601.06, a significant drop from ¥70,054,820.99, representing a decline of approximately 46.9%[184]. - The company's total equity decreased to ¥690,316,351.57 from ¥1,151,355,353.92, reflecting a decline of about 40.1%[186]. - The net cash flow from operating activities increased by 21.65% to ¥59,771,200.62, primarily due to a reduction in material and grape payments[52]. - The net cash flow from investing activities improved by 50.81%, decreasing to -¥10,967,292.61, mainly due to reduced fixed asset purchases[52]. Production and Sales - The company focused on marketing strategies centered around its organic wine products, particularly the Weilang Organic Wine series, and plans to continue expanding its market presence in 2022[29]. - The company achieved a revenue of ¥473,988,432.67 in 2021, representing a year-on-year growth of 20.76%[38]. - Organic wine production was 5,633.76 thousand liters, a decrease of 0.23% year-on-year, while sales increased by 3.13% to 5,465.87 thousand liters[43]. - Traditional dry wine production increased by 28.95% to 5,197.24 thousand liters, with sales rising by 17.27% to 4,872.09 thousand liters[43]. - The company added 86 new distributors during the reporting period, bringing the total to 417, an increase of 27 compared to the end of 2020[72]. Research and Development - The company is committed to innovation in its production processes, developing new products such as different styles of brandy and sweet wines to meet market demand[30]. - The company's R&D expenses for the current period amounted to ¥1,348,531.28, representing 0.28% of total revenue[48]. - The number of R&D personnel is 23, accounting for 2.59% of the total workforce[49]. - The company reported a significant reduction in research and development expenses, which fell to RMB 1,348,531.28 in 2021 from RMB 3,612,958.31 in 2020, a decrease of 62.7%[191]. Market Strategy and Expansion - The company plans to enhance its brand image and market penetration through multi-channel strategies and product diversification in 2022[29]. - The company is exploring market expansion into Southeast Asia, targeting a 5% market share within the next two years[101]. - Marketing strategies will focus on digital channels, aiming for a 25% increase in online sales by the end of 2022[101]. - The company plans to enhance its online sales strategy by developing exclusive online products and expanding online sales channels[77]. Governance and Compliance - The company has established a robust internal control system to enhance governance and operational efficiency[91]. - The board of directors consists of 9 members, including 3 independent directors, and held 10 meetings during the reporting period[90]. - The company has not faced any penalties from securities regulatory agencies in the past three years, suggesting compliance with regulations[110]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate communication with investors[91]. Environmental Responsibility - The company adheres to environmental regulations, with wastewater discharge from the Huangcheng plant meeting the standard of 31 mg/L for COD concentration[127]. - The company aims for zero wastewater discharge and continuously improves wastewater treatment processes to enhance recycling rates[130]. - The company has implemented ultra-low emission renovations to significantly reduce the impact of production processes on air quality[130]. - The company has established an emergency response team for environmental incidents and regularly conducts emergency drills[132].

Financial Performance - The company's operating revenue for Q3 2021 was ¥89,633,908.37, a decrease of 5.93% compared to the same period last year[5]. - The net profit attributable to shareholders for the same period was ¥4,204,749.66, with a year-to-date net profit of ¥2,992,293.78, reflecting a significant increase of 26.24%[5]. - Total operating revenue for the first three quarters of 2021 reached ¥332,959,561.24, an increase of 26.3% compared to ¥263,750,396.04 in the same period of 2020[18]. - Net profit for the third quarter of 2021 was ¥2,992,293.78, a significant recovery from a net loss of ¥164,094,963.17 in the same quarter of 2020[19]. - The company reported a comprehensive income total of -¥33,542,784.92 for the third quarter, improving from -¥167,768,620.26 in the previous year[19]. - The basic earnings per share for the third quarter was ¥0.01, recovering from a loss of ¥0.49 per share in the same quarter of 2020[19]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period reached ¥13,261,991.88, showing an increase of 108.52%[5]. - The net cash flow from operating activities for the first three quarters of 2021 was ¥13,261,991.88, an increase of 108.9% compared to ¥6,360,203.18 in the same period of 2020[22]. - Total cash inflow from operating activities decreased to ¥289,373,255.39 in 2021 from ¥313,422,328.03 in 2020, representing a decline of 7.7%[22]. - Cash outflow from operating activities also decreased to ¥276,111,263.51 in 2021 from ¥307,062,124.85 in 2020, a reduction of 10.1%[22]. - The net cash flow from investing activities was -¥21,343,138.22 in 2021, worsening from -¥15,226,404.46 in 2020[23]. - Cash inflow from financing activities increased to ¥215,408,762.04 in 2021 from ¥186,369,984.72 in 2020, an increase of 15.6%[23]. - The net cash flow from financing activities was -¥42,480,793.97 in 2021, compared to -¥4,206,425.09 in 2020, indicating a significant decline[23]. - The ending balance of cash and cash equivalents decreased to ¥18,013,570.63 in 2021 from ¥49,966,597.89 in 2020, a drop of 64.1%[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,831,891,955.43, a decrease of 3.08% from the end of the previous year[6]. - The total assets as of September 30, 2021, were ¥1,938,051,134.92, an increase from ¥1,890,180,065.10 at the end of 2020[25]. - The total liabilities increased to ¥1,200,000,000.00 in 2021 from ¥1,150,000,000.00 in 2020, reflecting a growth of 4.3%[25]. - Total liabilities amounted to ¥738,824,711.18, a decrease of ¥56,184,378.57 compared to the previous period[26]. - Current liabilities totaled ¥636,501,077.99, with a slight decrease of ¥1,414,232.42 from the last report[26]. - Non-current liabilities were reported at ¥102,323,633.19, indicating a significant decrease of ¥57,598,610.99[26]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,944[11]. - The company reported a total of 74,183,000 shares held by Shenzhen Shiqian Investment Development Co., Ltd., representing 22.29% of the total shares[12]. - The company has identified Shenzhen Shiqian Investment Development Co., Ltd. and Shenzhen Zhongshibang Investment Co., Ltd. as acting in concert[13]. Investment and Expenses - The company's construction in progress increased by 113.17%, indicating ongoing investment in new projects[7]. - Research and development expenses for the first three quarters were ¥2,928,504.13, compared to ¥2,468,832.76 in the same period last year, reflecting an 18.6% increase[18]. - The company’s interest expenses decreased to ¥15,953,836.35 from ¥18,900,868.86, indicating better cost management[18]. Equity and Retained Earnings - The total equity attributable to shareholders was ¥1,109,499,260.25, down from ¥1,151,355,353.92 in the previous year[18]. - The company's retained earnings were reported at ¥185,577,558.96, showing a decrease of ¥8,313,308.75 compared to the previous figure[27]. - The company’s total capital reserve stood at ¥574,754,618.03, unchanged from the previous period[27].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥243.33 million, representing a 44.44% increase compared to the same period last year[17]. - The net profit attributable to shareholders was approximately -¥1.21 million, showing a 99.12% improvement from the previous year's loss of -¥137.81 million[17]. - The net cash flow from operating activities was approximately ¥7.79 million, a significant recovery from -¥11.40 million in the same period last year[17]. - The company's revenue for the reporting period reached ¥243,325,652.87, representing a 44.44% increase compared to ¥168,461,558.99 in the same period last year[30]. - The net profit for the first half of 2021 was a loss of CNY 1,212,455.88, compared to a loss of CNY 137,811,244.11 in the first half of 2020, indicating an improvement in performance[93]. - The company reported a comprehensive loss of CNY 17,626,400.59 for the first half of 2021, compared to a loss of CNY 141,159,351.92 in the same period of 2020[93]. - The company reported a total of ¥3.16 million in non-recurring gains and losses for the reporting period[20]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥1.84 billion, a decrease of 2.62% from the previous year[17]. - The company's cash and cash equivalents decreased by 69.45% to ¥21,400,542.43, primarily due to the repayment of short-term loans[34]. - The company's production biological assets increased by 90.85% to ¥189,043,238.52, attributed to the completion of asset ownership transfer[34]. - The company's total assets include overseas assets of ¥555,787,095.01, accounting for 30.20% of total assets[35]. - The total liabilities decreased from CNY 562,540,879.53 to CNY 532,042,985.69, a decline of about 5.4%[90]. - Total assets decreased from ¥1,890,180,065.10 in December 2020 to ¥1,840,584,343.21 in June 2021, a decline of approximately 2.0%[86]. - Total liabilities decreased from ¥738,824,711.18 in December 2020 to ¥715,474,376.09 in June 2021, a decline of about 3.1%[86]. Marketing and Sales - The company has established a nationwide marketing network combining self-operated branches and regional distributors[22]. - The company is recognized as one of China's large wine producers, with leading indicators in production volume, tax contributions, and market share[23]. - The company has received multiple awards, including a gold medal at the 2020 IWGC International Wine Competition, enhancing its brand reputation[29]. - The company is focusing on new product development, including the launch of the V8 brandy and various wine styles to meet market demand[29]. - The company has implemented a "135" marketing strategy, emphasizing differentiation and focusing on core products and regions[28]. Research and Development - Research and development expenses rose by 33.72% to ¥2,179,257.40, up from ¥1,629,776.95[30]. - The company has developed proprietary organic grape cultivation techniques and has received organic certification from various international bodies[23]. Environmental Compliance - The company has implemented a comprehensive environmental management system to ensure compliance with national environmental laws and regulations[52]. - The company reported a wastewater COD concentration of 28 mg/L at the Houlian factory, which is below the regulatory standard[52]. - The wastewater COD concentration at the Huangcheng factory was reported at 30 mg/L, also below the required standard[53]. - The company has not reported any administrative penalties related to environmental issues during the reporting period[54]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 13,486[72]. - The largest shareholder holds 23.61% of the company's total shares, while the second largest shareholder holds 18.81%[69]. - A shareholder reduced their holdings by 797,500 shares, accounting for 25% of their total shares held[58]. - The company has committed to not engage in any related transactions with 威龙股份 to protect shareholder interests[59]. Corporate Governance - The company has undergone significant changes in its board of directors, with several new non-independent directors elected[46]. - The company has not proposed any profit distribution or capital reserve conversion plans for the half-year period[49]. - The company has not disclosed any employee stock ownership plans or other incentive measures during this reporting period[50]. Financial Management - The company has taken steps to strengthen investment compliance and risk management processes following a stock sale incident[57]. - The total amount of guarantees provided by the company to its subsidiaries during the reporting period is CNY 47,800,080[67]. - The company has no significant litigation or arbitration matters during the reporting period[62]. - The company has no major related transactions during the reporting period[63]. Accounting Policies - The financial statements are prepared in accordance with the relevant provisions of the Enterprise Accounting Standards, reflecting the company's financial position, operating results, changes in shareholders' equity, and cash flows accurately[121]. - The company adopts a historical cost measurement basis for financial reporting, except for certain financial instruments[118]. - The company recognizes goodwill in cases where the acquisition cost exceeds the fair value of identifiable net assets acquired in non-similar control mergers[132]. Risk Factors - The company faces risks from fluctuations in the wine market and potential impacts from increased imports of foreign wines[39]. - The company is facing increased storage costs and potential shortages of domestic raw materials due to import restrictions on Australian wine[39].

Financial Performance - The net profit attributable to shareholders for 2020 was -219,761,772.64 RMB, a significant decline compared to -25,865,056.50 RMB in 2019[5]. - Total revenue for 2020 decreased by 41.18% to 392,499,745.83 RMB from 667,257,781.35 RMB in 2019[22]. - The company's net cash flow from operating activities was 49,134,716.34 RMB, down 67.47% from 151,037,958.00 RMB in the previous year[22]. - The total assets as of the end of 2020 were 1,890,180,065.10 RMB, reflecting an 8.10% decrease from 2,056,701,093.95 RMB in 2019[22]. - The net assets attributable to shareholders decreased by 15.33% to 1,151,355,353.92 RMB compared to 1,359,746,617.96 RMB at the end of 2019[22]. - The basic earnings per share for 2020 was -0.66 RMB, a decline from -0.08 RMB in 2019[23]. - The weighted average return on equity was -17.58%, a decrease of 15.70 percentage points from -1.88% in 2019[24]. - The company reported a significant decrease of 54.22% in retained earnings, totaling ¥185,577,558.96, due to losses incurred during the period[61]. - The company reported a net loss from asset disposal of ¥725,620.99, compared to a gain of ¥1,560,004.31 in the previous year[55]. - The company reported a net profit of -4,722.48 million RMB for the year, with total revenue of 28,484.16 million RMB[85]. Revenue and Sales - In Q1 2020, the company's operating revenue was CNY 109,969,193.34, while in Q2 it decreased to CNY 58,492,365.65, and then increased to CNY 95,288,837.05 in Q3, followed by CNY 128,749,349.79 in Q4[26]. - The revenue from organic wine was ¥211,117,361.25, reflecting a 48.00% decrease year-on-year[46]. - The total production volume decreased by 41.79% to 10,261.52 thousand liters, while total sales volume decreased by 39.15% to 10,063.14 thousand liters compared to the previous year[48]. - The online sales revenue was 909.36 million RMB, a decrease of 35.43% from 1,410.75 million RMB in the previous period[79]. - The sales revenue from the Zhejiang East sales area was 10,202.25 million RMB, representing a 30.73% share of total sales, down 39.41% year-on-year[73]. - The company’s high-end product revenue dropped by 64.73% to 1,425.17 million RMB, with a gross margin of 53.37%[81]. - The sales through supermarkets decreased by 40.84% to 2,581.56 million RMB, with a gross margin of 53.31%[81]. Costs and Expenses - The cost of raw materials decreased by 42.26% to ¥131,342,740.07, accounting for 45.89% of total costs[50]. - Sales expenses decreased by 32.69% to ¥163,469,615.69, mainly due to the adjustment of transportation and promotional costs to operating costs[54]. - The company experienced a 76.79% increase in management expenses to ¥85,925,500.14, attributed to normal inventory write-offs[54]. - The total operating costs for 2020 were CNY 598,280,322.31, down from CNY 678,783,821.86 in 2019, reflecting a reduction of 11.8%[199]. Market and Product Development - The company has established its own organic grape planting bases in Gansu Wuwei and Australia, enhancing its raw material supply chain[33]. - The company has developed key technologies in organic grape production and processing, maintaining a leading position in the domestic organic wine market[35]. - The company focused on marketing strategies centered around the "135" principle, emphasizing organic differentiation and product focus[40]. - The company launched a new product, V8 Brandy, at the end of 2020, targeting specific markets for promotion[40]. - The company plans to develop online exclusive products and expand online sales channels to increase online sales share[79]. - The company plans to optimize winemaking processes and strengthen R&D for new technologies and products in 2021[88]. Risk Management - The company faced various risks and has detailed its risk management strategies in the report[9]. - The company faces risks from fluctuating wine market demands and increasing competition from imported wines[90]. - The company is experiencing supply risks due to import restrictions on Australian wines, which may lead to increased storage costs and production shortages[91]. Corporate Governance and Compliance - The company is currently under investigation by the China Securities Regulatory Commission for potential information disclosure violations[94]. - The company has committed to transparency in capital markets, ensuring that disclosed information is accurate, complete, and timely[121]. - The company has taken measures to ensure compliance with corporate governance standards, aligning with regulatory requirements[161]. - The board of directors consists of nine members, including three independent directors, ensuring a balanced governance structure[159]. Shareholder Information - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits to be distributed as cash dividends if profits are achieved[95]. - The company did not declare any cash dividends or capital reserve transfers in 2020, resulting in a net profit of -219,761,772.64 RMB[97][100]. - The cash dividend distribution ratio for 2020 was 0%, reflecting no profits available for distribution[99]. - The company has committed to not reducing its stock holdings by major shareholders during specified periods, ensuring stability in shareholding[100]. Employee and Community Engagement - The company has employed 33 disabled individuals, contributing to social responsibility and community support[122]. - The company has established a "company + farmer" model to support local farmers, providing technical guidance and guaranteed purchases of grapes[122]. - The company encourages employees to pursue further education and professional qualifications through various means, including self-study and certification exams[155]. Audit and Internal Control - The audit report confirmed that the financial statements fairly reflect the financial position and operating results of Wulong Wine for the year ended December 31, 2020[173]. - The company has implemented various internal control tests to assess the effectiveness of revenue recognition and inventory valuation processes[175][179]. - The internal control effectiveness for 2020 was evaluated and reported, with no significant deficiencies identified[167].