证券代码：603886 证券简称：元祖股份 公告编号：2023-021 上海元祖梦果子股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会的公告 本公司董事会及全体董事保证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： 问题征集方式：投资者可于 2023 年 06 月 08 日(星期四) 至 06 月 14 日(星 期三)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过电子 邮件的形式发送至公司证券事务部邮箱 gansoinfo@ganso.net，邮件标题请注明： "元祖股份 2022 年度暨 2023 年第一季度业绩说明会提问"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。 上海元祖梦果子股份有限公司（以下简称"公司"）已于 2023 年 3 月 28 日发布公司2022年度报告、于2023年4月28 日发布公司2023年第一季度报告， 为便于广大投资者更全面深入地了解公司2022年度及2023年第一季度经营成果、 财务状况，公司计划于 2023 年 06 月 15 日上午 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 447,667,887.73, representing a year-on-year increase of 2.75%[5]. - The net profit attributable to shareholders of the listed company was a loss of CNY 8,809,500.49, with a diluted earnings per share of -0.04 CNY[5][6]. - The company reported a total comprehensive loss of ¥9.99 million in Q1 2023, an improvement from a loss of ¥23.73 million in Q1 2022[22]. - Net profit for Q1 2023 was a loss of ¥8.80 million, an improvement from a loss of ¥19.82 million in Q1 2022, indicating a reduction in losses by approximately 55.5%[21]. - The total profit before tax for Q1 2023 was CNY 11,490,596.69, compared to a loss of CNY -2,077,178.98 in the same quarter of the previous year[31]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,115,271,605.52, a decrease of 0.89% compared to the end of the previous year[6]. - The total liabilities decreased to RMB 1,502,852,738.43 from RMB 1,520,849,454.51, reflecting a reduction of about 1.2%[17]. - The total assets as of March 31, 2023, were CNY 2,424,500,844.95, down from CNY 2,447,497,272.60 at the end of 2022, reflecting a decrease of about 0.93%[27]. - The company's equity attributable to shareholders decreased to RMB 1,611,811,554.82 from RMB 1,621,797,316.28, a decline of approximately 0.6%[17]. Cash Flow - The cash flow from operating activities was CNY 2,083,017.26, indicating a negative performance in profitability[5]. - The net cash flow from operating activities was CNY 2,083,017.26, a significant recovery from a negative cash flow of CNY -37,643,843.64 in the previous year[24]. - Operating cash flow for Q1 2023 was CNY 11,566,553.42, compared to a negative cash flow of CNY -18,652,251.31 in the same period last year[33]. - The company's cash inflow from operating activities totaled CNY 255,906,896.63, compared to CNY 241,109,715.40 in Q1 2022, marking an increase of about 6.1%[33]. Revenue and Costs - Total operating costs decreased slightly to ¥456.64 million in Q1 2023 from ¥457.25 million in Q1 2022, representing a decrease of 0.13%[20]. - The gross profit margin improved as the cost of goods sold decreased to CNY 148,649,146.23 from CNY 161,681,298.87, representing a reduction of approximately 8.06%[29]. - Total revenue from sales of goods and services reached CNY 246,165,485.52, up from CNY 230,901,751.24 in Q1 2022, indicating a growth of approximately 6.5%[33]. Shareholder Information - The company had a total of 14,030 common shareholders at the end of the reporting period[11]. - Basic and diluted earnings per share for Q1 2023 were both -¥0.04, compared to -¥0.08 in Q1 2022[22]. Research and Development - Research and development expenses increased to ¥4.92 million in Q1 2023 from ¥4.59 million in Q1 2022, reflecting a growth of 7.1%[20]. - Research and development expenses increased to CNY 4,917,927.50 from CNY 4,592,952.14, reflecting a growth of about 7.07% year-over-year[29]. Other Income and Expenses - Non-operating income included government subsidies amounting to CNY 5,041,491.66, which are closely related to the company's normal business operations[8]. - The company recorded a loss of CNY 858,868.46 from the disposal of non-current assets due to the closure of stores[8]. - The company experienced a decrease in investment losses, reporting a loss of ¥2.45 million in Q1 2023 compared to a loss of ¥3.50 million in Q1 2022, a reduction of approximately 30%[20].

Financial Performance - In 2022, the company achieved a net profit of ¥266,400,267.73, with a net profit attributable to shareholders of ¥266,374,236.60, representing a decrease of 21.62% compared to 2021[6]. - The company's operating revenue for 2022 was ¥2,587,144,580.12, showing a slight increase of 0.11% from ¥2,584,315,723.87 in 2021[23]. - The net cash flow from operating activities decreased by 14.74% to ¥556,108,278.73 in 2022, down from ¥652,225,740.02 in 2021[23]. - The total assets of the company at the end of 2022 were ¥3,143,254,453.00, reflecting a 2.24% increase from ¥3,074,535,049.87 at the end of 2021[23]. - The company's net assets attributable to shareholders increased by 1.57% to ¥1,621,797,316.28 at the end of 2022, compared to ¥1,596,699,930.85 at the end of 2021[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥231,873,804.33, a decrease of 21.72% from the previous year[23]. - Basic earnings per share decreased by 21.83% to CNY 1.11 in 2022 from CNY 1.42 in 2021[24]. - Diluted earnings per share also fell by 21.83% to CNY 1.11 in 2022 compared to CNY 1.42 in 2021[24]. - The weighted average return on equity decreased to 16.97% in 2022 from 21.67% in 2021, a decline of 4.7 percentage points[24]. Cash Dividends and Shareholder Returns - The company plans to distribute cash dividends of ¥240 million, with a payout of ¥10 per 10 shares[6]. - The total amount of cash dividends declared is equivalent to 70.62% of the net profit attributable to ordinary shareholders[145]. - The company has a cash dividend policy that mandates a minimum of 40% of the distributable profit to be distributed as dividends in profitable years[141]. - In mature stages without significant capital expenditure, the cash dividend proportion should be at least 80% of the profit distribution[141]. Product Development and Innovation - The company launched new products such as low-sugar mousse cakes and interactive products to meet health-conscious consumer demands[32]. - The company has focused on product innovation, introducing seasonal and scenario-based products to enhance consumer engagement[32]. - New product offerings included innovative flavors such as white peach snow mochi and various types of mooncakes, enhancing the product lineup for seasonal occasions[48]. - The product development strategy included integrating traditional cultural elements into new product designs, enhancing brand storytelling and consumer connection[57]. - The company is focusing on diversifying its product ingredients, incorporating functional food components such as dietary fibers and plant extracts[84]. Market Trends and Industry Insights - The Chinese baking industry market size reached RMB 285.3 billion in 2022, with a year-on-year growth of 9.7%[38]. - The number of registered enterprises in the Chinese baking industry reached 29,345 in 2022, marking a historical high and indicating strong growth from 2020 to 2022[40]. - The baking industry is expected to continue expanding, with projections estimating the market size to reach RMB 351.8 billion by 2025[38]. - The baking industry in China is experiencing a significant expansion, with baked goods becoming a staple in daily diets, particularly bread, which is increasingly favored as a breakfast option[82]. - Short-shelf-life baked goods are gaining popularity due to rising health consciousness among consumers, leading brands to launch more short-shelf-life products[83]. Marketing and Sales Strategies - The company operates 741 physical stores and utilizes various e-commerce platforms to cover both B2B and B2C sales[32]. - The company adopted a multi-channel marketing strategy, leveraging platforms like Weibo, WeChat, and Douyin for targeted promotions[57]. - The company is enhancing its marketing strategies to improve market share through targeted promotions and seasonal marketing campaigns[99]. - Membership growth was a focus, with the company enhancing member experience through digital tools and increasing engagement across various age demographics[59]. Operational Efficiency and Digital Transformation - The company implemented a digital transformation strategy to improve production efficiency and supply chain collaboration, utilizing SAP and ERP systems for automated data flow[36]. - The company upgraded its operational systems to enhance customer experience and increase member engagement through various online and offline marketing strategies[35]. - The company is prepared to implement price stabilization measures if stock prices fall below the audited net asset value per share[162]. Governance and Compliance - The audit report for the company was issued by KPMG Huazhen, confirming the accuracy and completeness of the financial statements[5]. - The company has established a robust internal control system, receiving a standard unqualified opinion from KPMG on its internal control audit report[109]. - The company actively engages with investors through various communication channels, enhancing transparency and understanding of its operations[108]. - The company has not faced any penalties from securities regulatory agencies in the past three years, reflecting compliance and governance[124]. Social Responsibility and Community Engagement - The company has initiated a public welfare program to support underprivileged children, reinforcing its corporate social responsibility[99]. - The company has actively engaged in social responsibility initiatives, contributing a total of 393.66 million CNY to various charitable activities, including cash and material donations[152]. Employee Development and Training - The company is committed to talent development, enhancing its training and assessment systems to improve employee skills and foster a positive work environment[37]. - The company conducted nearly 600 training sessions throughout the year, covering over 4,000 employees, to enhance skills and knowledge[137]. - The company has a dual-channel talent growth mechanism aimed at cultivating versatile talents to meet strategic development needs[136]. Financial Management and Investments - The company has a total of 267.4 million RMB in bank wealth management products, with an outstanding balance of 110.4 million RMB, reflecting a strategic investment approach[188]. - The company has engaged in structured deposits with various banks, including a 15 million RMB deposit with a 2.70% annualized return, indicating a focus on optimizing cash management[190]. - The company has invested ¥30 million in the Taiwan Strait Industry Investment Fund, with an initial payment of ¥4.5 million completed in July 2022[91].

Financial Performance - Q3 2022 revenue was CNY 1,080,583,308.07, a slight decrease of 0.09% compared to CNY 1,081,577,413.87 in the same period last year[6] - Net profit attributable to shareholders was CNY 236,290,216.93, down 12.64% from CNY 270,479,777.68 year-on-year[6] - Basic earnings per share decreased by 13.27% to CNY 0.98 from CNY 1.13 in the previous year[7] - Net profit for the third quarter of 2022 was CNY 298,382,053.92, down from CNY 332,268,495.56 in the same quarter of 2021, reflecting a decrease of about 10.2%[20] - Operating profit for the first three quarters of 2022 was CNY 379,697,504.34, compared to CNY 420,676,725.41 in the previous year, indicating a decline of approximately 9.7%[20] - The company reported a total comprehensive income of CNY 295,439,496.56 for the third quarter of 2022, compared to CNY 329,819,179.88 in the same quarter of 2021, reflecting a decline of about 10.5%[21] - Basic and diluted earnings per share for the third quarter of 2022 were both CNY 1.24, down from CNY 1.38 in the same quarter of 2021, indicating a decrease of approximately 10.1%[21] - Investment income for the first three quarters of 2022 showed a loss of CNY 1,602,767.01, compared to a loss of CNY 67,475.24 in the same period of 2021[20] Assets and Liabilities - Total assets increased by 15.31% to CNY 3,545,332,436.91 from CNY 3,074,535,049.87 at the end of the previous year[7] - The company's total assets reached RMB 3,545,332,436.91, an increase from RMB 3,074,535,049.87 at the end of 2021, reflecting a growth of approximately 15.3%[16] - The company's total liabilities increased to RMB 1,892,603,759.92 from RMB 1,477,245,869.44, which is an increase of approximately 28.1%[18] - The company's total current assets increased to RMB 2,198,042,333.11 from RMB 1,685,681,437.86, representing a rise of approximately 30.4%[17] - The company's non-current assets totaled RMB 1,347,290,103.80, a slight decrease from RMB 1,388,853,612.01, indicating a decline of approximately 3.0%[17] - The company's total equity remained stable at RMB 240,000,000.00, unchanged from the previous year[18] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 783,583,888.37, a decrease of 5.45% compared to CNY 828,741,822.04 last year[6] - Cash flow from operating activities generated a net amount of CNY 783,583,888.37, down from CNY 828,741,822.04 in the same period of 2021, a decrease of approximately 5.4%[24] - The net cash flow from investing activities for Q3 2022 was -$226,779,872.45, a decrease from -$566,400,780.53 in the same period last year[25] - The net cash flow from financing activities was -$354,922,344.84, compared to -$364,619,763.43 in Q3 2021[25] - Cash and cash equivalents at the end of Q3 2022 totaled $377,425,956.10, an increase from $165,626,158.84 in the previous year[25] - The net increase in cash and cash equivalents for the quarter was $200,266,194.85, contrasting with a decrease of -$102,351,489.38 in Q3 2021[25] - The beginning cash and cash equivalents balance was $177,159,761.25, compared to $267,977,648.22 in the same period last year[25] Operational Metrics - Significant increases in accounts receivable and accounts payable were noted, with increases of 162.51% and 147.86% respectively, attributed to seasonal sales[11] - The company's cash and cash equivalents amounted to RMB 377,425,956.10, significantly up from RMB 177,159,761.25, indicating a growth of about 113.8%[16] - Accounts receivable rose to RMB 152,279,685.69 from RMB 58,009,036.07, marking an increase of about 162.3%[17] - The company's inventory grew to RMB 89,516,997.14 from RMB 63,057,159.70, reflecting an increase of about 42.0%[17] - The company reported a government subsidy of CNY 3,177,834.28 for the current period, contributing to non-recurring gains[10] - The company's contract liabilities increased to RMB 901,103,126.03 from RMB 773,361,822.19, reflecting a growth of about 16.5%[18] Research and Development - Research and development expenses increased to CNY 15,620,659.41 in the first three quarters of 2022, up from CNY 12,850,733.70 in the same period of 2021, marking a rise of about 21.4%[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,095[13] Accounting Standards - The company has not adopted new accounting standards or interpretations for the year 2022[25]

Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 1,046.96 million, representing a 4.41% increase compared to CNY 1,002.77 million in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 62.04 million, a slight increase of 0.42% from CNY 61.78 million year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 40.60 million, showing a decrease of 12.28% compared to CNY 46.29 million in the previous year[20]. - The net cash flow from operating activities increased by 11.16% to CNY 213.52 million, up from CNY 192.08 million in the same period last year[20]. - Total assets at the end of the reporting period were CNY 3,125.63 million, reflecting a 1.66% increase from CNY 3,074.54 million at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 11.29% to CNY 1,416.44 million from CNY 1,596.70 million at the end of the previous year[20]. - Basic earnings per share remained stable at CNY 0.26, unchanged from the same period last year[21]. - The weighted average return on net assets was 4.01%, slightly down from 4.04% in the previous year[21]. Operational Developments - The company operates 733 physical stores as of June 30, 2022, primarily focusing on the domestic market for its various baked goods[26]. - The company has upgraded its food safety and quality management systems, transitioning from ISO22000 to FSSC22000, enhancing product quality control[28]. - The company has implemented a digital transformation across all channels, introducing AI store managers to support data analysis and improve operational efficiency[31]. - New product categories introduced include toffee, soft candy boxes, and a variety of seasonal offerings, enhancing product differentiation[32]. - The company has optimized its membership system, integrating all-channel membership benefits to improve customer engagement and retention[30]. - The company has focused on enhancing brand visibility through social media platforms, leveraging user-generated content to increase consumer engagement[27]. - The company aims to create a multi-scenario atmosphere for its products, aligning seasonal offerings with cultural themes to boost market competitiveness[33]. Financial Position - The company reported a significant increase in cash and cash equivalents, which rose by 215.08% to CNY 558.19 million from CNY 177.16 million[45][46]. - Accounts receivable increased by 74.35% to CNY 101.14 million, mainly due to credit sales during the peak sales season[45][47]. - Inventory increased by 25.05% to CNY 78.86 million, reflecting higher procurement of raw materials for the upcoming Mid-Autumn Festival[45][48]. - The company reported a total of ¥21.43 million in non-recurring gains after tax adjustments, with a tax impact of approximately ¥6.48 million[24]. - The company reported a net profit of 4,813 million RMB from Sichuan Yuanzu, with a total revenue of 44,191 million RMB, indicating a strong performance in food production and sales[56]. - The company has a total asset value of 82,814 million RMB and a net asset value of 30,553 million RMB for its Sichuan Yuanzu subsidiary, highlighting its significant market presence[56]. Governance and Compliance - The company held its first extraordinary shareholders' meeting on January 21, 2022, with 64.43% of voting shares represented, ensuring compliance with corporate governance standards[63]. - The company has undergone a change in its board of directors and senior management, with new appointments effective from January 21, 2022, to enhance governance and operational efficiency[66]. - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities, and no administrative penalties were incurred during the reporting period[71]. - The company has complied with environmental laws and regulations, including the Environmental Protection Law of the People's Republic of China, without any violations reported[71]. - The company has not disclosed any measures taken to reduce carbon emissions during the reporting period[72]. Risks and Challenges - The company faces potential risks related to food safety, emphasizing a zero-tolerance policy towards any threats to food quality, which remains a core value driving sustainable development[55]. - Raw material costs, particularly for flour, oil, sugar, and eggs, are subject to fluctuations due to harvest quality and market demand, which could pressure the company's gross margin if prices rise significantly[57]. - The impact of the COVID-19 pandemic has negatively affected the company's operations and revenue in 2020 and the first half of 2022, with ongoing risks if the situation worsens[59]. Shareholder Relations - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period, indicating a focus on reinvestment[67]. - The controlling shareholder has pledged to initiate a buyback of all newly issued shares within 30 days if any false statements are identified in the prospectus[74]. - The company has a commitment to compensate investors for losses incurred due to misleading statements in the prospectus, within 30 days of such identification[74]. - The company will notify the issuer within three trading days of any plans to increase shareholding if stock price stabilization measures are triggered[74]. - The company has agreed to bear full compensation for any losses incurred by the company due to violations of commitments made by the controlling shareholder[76]. Lease Agreements - The company signed a lease agreement with Shanghai Hema Network Technology Co., Ltd. for a commercial space of 800 square meters at an annual rent of RMB 1,900,000, with a lease term of 8 years and a 5% rent increase every three years[91]. - The lease with Shanghai Starbucks Coffee Operating Co., Ltd. is based on 6% or 7% of the store's net sales, with a lease term of 15 years, which may affect the rental income depending on sales performance[91]. - The company has multiple lease agreements with various parties, with total rental amounts generally considered small and not materially impacting operations[92][93][94]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, ensuring the company's ability to continue operations[148]. - The company adheres to the Chinese Accounting Standards, ensuring that financial statements reflect a true and complete picture of its financial status[149]. - The company has established accounting policies for bad debt provisions, inventory measurement, and revenue recognition based on its operational characteristics[148]. - The group classifies financial assets based on their business model, with specific criteria for measuring at amortized cost or fair value, impacting cash flow management[166]. - The group evaluates the potential for credit loss over the entire expected life of financial instruments, ensuring comprehensive risk management[172].

Financial Performance - In 2021, the company achieved a net profit of ¥339,841,324.59, with a net profit attributable to shareholders of ¥339,855,467.28, representing a 13.27% increase compared to 2020[4]. - The company's operating revenue for 2021 was ¥2,584,315,723.87, marking a 12.20% increase from ¥2,303,268,400.06 in 2020[22]. - The net cash flow from operating activities increased by 35.12% to ¥652,225,740.02 in 2021, compared to ¥482,707,979.65 in 2020[22]. - The total assets of the company reached ¥3,074,535,049.87 by the end of 2021, a 20.52% increase from ¥2,551,106,712.33 at the end of 2020[22]. - The company's net assets attributable to shareholders increased by 6.61% to ¥1,596,699,930.85 at the end of 2021, compared to ¥1,497,690,354.45 at the end of 2020[22]. - Basic earnings per share increased by 13.60% to CNY 1.42 in 2021 compared to CNY 1.25 in 2020[23]. - The weighted average return on equity rose to 21.67% in 2021, up from 19.77% in 2020, reflecting a 1.90% increase[23]. Dividend and Profit Distribution - The company plans to distribute cash dividends of ¥240 million, with a proposal to pay ¥10 per 10 shares[4]. - The remaining undistributed profit to be carried forward to future years is ¥188,381,805.35[4]. Market and Industry Trends - The Chinese baking market is experiencing rapid growth, with a market size expected to reach 307 billion yuan in 2023, up from over 280 billion yuan in 2021, reflecting a compound annual growth rate of 11% from 2016 to 2020[36]. - The demand for short-shelf-life baked goods is rising, aligning with health-conscious consumer trends[90]. - Emphasis on food safety and hygiene continues to be a fundamental trend in the baking industry, driven by rising consumer health awareness[92]. Product Development and Innovation - The company upgraded its cake base quality and optimized classic products, enhancing flavor and stability[31]. - The company aims to improve its quality management system by upgrading from ISO22000 to FSSC22000, enhancing food safety standards[32]. - The company is focusing on product innovation, with a notable rise in demand for low-sugar and low-fat options, catering to health-conscious consumers[39]. - The company launched seasonal products for the three major festivals, including new offerings for the Spring Festival, Dragon Boat Festival, and Mid-Autumn Festival, catering to diverse consumer needs[41]. - The company introduced new flavors of mooncakes during the Mid-Autumn Festival, including a pineapple flavor with Taiwanese pineapple bits, enhancing the product's appeal[41]. Marketing and Customer Engagement - The company plans to leverage public and private domain marketing strategies to increase product exposure across social media platforms[32]. - The company has integrated its customer management system with social networks to create a personalized and intelligent customer management platform, enhancing marketing efficiency and sales performance[35]. - The introduction of offline pop-up events has successfully driven brand exposure and customer engagement, particularly during key festive periods[34]. - The company has launched a new marketing strategy that combines public and private domain traffic, enhancing customer retention and loyalty through SCRM operations[33]. Operational Efficiency and Management - The company has focused on enhancing customer experience through store renovations and the introduction of a new delivery system, aiming to improve order processing speed and customer satisfaction[34]. - The company has developed a comprehensive training and assessment system for marketing personnel, enhancing service quality and operational efficiency[35]. - The company is committed to digital transformation, upgrading systems for production, supply chain, food safety, and customer management[114]. - The company emphasizes lean production and strict food safety management, aiming for zero customer complaints through rigorous quality control[115]. Corporate Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[120]. - The internal control system was evaluated and audited, with KPMG issuing a standard unqualified opinion on the internal control audit report for the 2020 fiscal year[123]. - The company has not reported any violations regarding guarantees, indicating a stable financial position[175]. Social Responsibility and Community Engagement - The company is committed to social responsibility and community engagement initiatives[110]. - The company established the "Star Wish" social welfare program in 2012, focusing on one-on-one support for impoverished children, enhancing community connections through financial aid and personal engagement[111]. - The "Star Wish" social welfare program has expanded to cover regions including Shanghai, Sichuan, Jiangsu, Zhejiang, Guangxi, and Hubei in 2021[160]. Risks and Challenges - The company faces potential risks related to food safety, raw material cost fluctuations, and production environment hygiene, which it aims to manage through strict protocols and optimization strategies[116][117]. - The company has not faced any penalties from securities regulatory authorities in the past three years[134]. Future Outlook - The company anticipates continued growth in the baking industry, driven by rising disposable income and changing consumer preferences towards healthier and higher-quality food options[100]. - The company aims to strengthen brand building, enhance technological innovation, and optimize product structure to increase market share in the food industry, aspiring to become a leading baking enterprise in China[112].

Financial Performance - The company's revenue for Q1 2022 was approximately ¥435.68 million, representing a year-over-year increase of 7.94% compared to ¥403.63 million in the same period last year[2]. - The net profit attributable to shareholders of the listed company was a loss of approximately ¥19.81 million, compared to a profit of ¥1.35 million in the same period last year, indicating a significant decline[2]. - The basic and diluted earnings per share for Q1 2022 were both -¥0.08, compared to ¥0.01 in the same period last year[3]. - Total operating revenue for Q1 2022 was CNY 435.68 million, an increase of 7.9% compared to CNY 403.63 million in Q1 2021[16]. - Net profit for Q1 2022 was a loss of CNY 19.82 million, compared to a profit of CNY 1.33 million in Q1 2021[17]. - The company reported a total comprehensive loss of CNY 23.73 million for Q1 2022, compared to a comprehensive income of CNY 0.50 million in Q1 2021[18]. - The total profit for Q1 2022 was a loss of CNY 2.08 million, compared to a profit of CNY 23.83 million in Q1 2021, indicating a substantial decline in profitability[27]. Assets and Liabilities - The total assets at the end of Q1 2022 were approximately ¥3.05 billion, a decrease of 0.93% from ¥3.07 billion at the end of the previous year[3]. - The equity attributable to shareholders of the listed company was approximately ¥1.57 billion, down 1.48% from ¥1.60 billion at the end of the previous year[3]. - The company's total liabilities decreased slightly to CNY 1.47 billion in Q1 2022 from CNY 1.48 billion in Q1 2021[15]. - Total liabilities decreased to CNY 889.54 million from CNY 965.67 million year-over-year[26]. Cash Flow - The net cash flow from operating activities was a negative ¥37.64 million, compared to a negative ¥14.74 million in the same period last year, indicating worsening cash flow[3]. - Cash generated from operating activities was CNY 556.53 million in Q1 2022, an increase from CNY 498.75 million in Q1 2021[20]. - Operating cash inflow for Q1 2022 was CNY 566.44 million, up from CNY 506.98 million in Q1 2021, representing an increase of 11.5%[21]. - Cash paid for operating activities increased to CNY 604.08 million from CNY 521.73 million in the previous year[21]. - The cash flow from operating activities showed a net outflow of CNY 18.65 million in Q1 2022, an improvement from a net outflow of CNY 28.35 million in Q1 2021[30]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 19,308[9]. - The largest shareholder, Yuanzhu International Co., Ltd., holds 118,791,000 shares, accounting for 49.50% of total shares[9]. - The company has no pledged, marked, or frozen shares among its top shareholders[9]. Expenses and Investments - Sales expenses increased by 13.95%, driven by higher personnel costs and advertising expenses[7]. - Research and development expenses for Q1 2022 were CNY 4.59 million, compared to CNY 3.33 million in Q1 2021, reflecting an increase in investment in innovation[16]. - Cash paid for investment activities decreased significantly to CNY 268.20 million from CNY 510.59 million year-over-year[22]. Other Notable Points - The company recognized government subsidies amounting to approximately ¥8.82 million, which were closely related to its normal business operations[6]. - The company reported a significant increase in prepayments by 995.18%, attributed to advance payments for raw materials for the Dragon Boat Festival products[7]. - The report does not indicate any significant new product or technology developments during the quarter[12]. - There are no disclosed plans for market expansion or mergers and acquisitions in the current report[12].

Financial Performance - In 2021, the company achieved a net profit of ¥339,841,324.59, with a net profit attributable to shareholders of ¥339,855,467.28, representing a 13.27% increase from the previous year[4]. - The company's operating revenue for 2021 was ¥2,584,315,723.87, reflecting a 12.20% growth compared to ¥2,303,268,400.06 in 2020[22]. - The net cash flow from operating activities increased by 35.12% to ¥652,225,740.02 in 2021, up from ¥482,707,979.65 in 2020[22]. - The total assets of the company reached ¥3,074,535,049.87 by the end of 2021, marking a 20.52% increase from ¥2,551,106,712.33 in 2020[22]. - The company's net assets attributable to shareholders were ¥1,596,699,930.85 at the end of 2021, a 6.61% increase from ¥1,497,690,354.45 in 2020[22]. - Basic earnings per share increased by 13.60% to CNY 1.42 in 2021 compared to CNY 1.25 in 2020[23]. - The weighted average return on equity rose to 21.67% in 2021, up from 19.77% in 2020, reflecting a 1.90% increase[23]. - The company reported a total revenue of CNY 2,584,315,723.87 for the year, with quarterly revenues of CNY 403.63 million, CNY 599.15 million, CNY 1,081.58 million, and CNY 499.96 million respectively[25]. - The net profit attributable to shareholders was CNY 270.48 million in Q3 2021, showing significant growth from previous quarters[25]. Dividend and Profit Distribution - The company plans to distribute cash dividends of ¥240 million, with a payout of ¥10 per 10 shares[4]. - The remaining undistributed profit carried forward to future years is ¥188,381,805.35[4]. Risk Management and Governance - The company emphasizes the importance of risk awareness regarding future plans and development strategies[5]. - There were no non-operating fund occupations by controlling shareholders or related parties reported[6]. - The company has received a standard unqualified audit report from KPMG Huazhen[6]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[120]. - The board held four meetings during the reporting period, with independent directors actively participating and providing suggestions on management and strategic direction[121]. - The supervisory board, comprising 3 members, also held four meetings, effectively overseeing financial conditions and related transactions[121]. - The company emphasized investor relations management, conducting performance briefings and maintaining communication through various channels, enhancing investor understanding and recognition[121]. - The internal control evaluation and audit were conducted, with KPMG issuing a standard unqualified opinion on the internal control audit report[123]. Product Development and Innovation - The company implemented a comprehensive upgrade of its cake products, enhancing quality and optimizing taste, which aligns with seasonal product development[31]. - The company streamlined its product offerings by focusing on popular items and launching seasonal flagship products to strengthen brand connection with consumers[32]. - The company upgraded its food safety management system from ISO22000 to FSSC22000 to improve quality management standards[32]. - The company has focused on product innovation, with a significant increase in demand for low-sugar and low-fat options, as well as diverse flavors such as lemon and floral[39]. - The company has launched seasonal products for three major festivals: Spring Festival, Dragon Boat Festival, and Mid-Autumn Festival, including items like "招财进宝礼盒" and "雪月饼礼盒" to cater to diverse consumer needs[41]. - The company introduced new flavors for mooncakes during the Mid-Autumn Festival, such as pineapple and truffle fillings, enhancing product variety and appeal[41]. Marketing and Customer Engagement - The company aims to enhance product exposure through public-private partnerships and cross-industry collaborations, leveraging social media platforms[32]. - The company has established a personalized and intelligent customer management platform, integrating e-commerce mini-programs and member malls to enhance marketing efficiency[35]. - The company has launched offline pop-up events to create differentiated products and achieve precise marketing, significantly increasing brand exposure[34]. - The company has upgraded its store design to enhance customer experience, incorporating younger and more vibrant IP elements[34]. - The company has developed a comprehensive training and assessment system for marketing personnel to improve service quality and enhance competitiveness[35]. - The company has focused on seasonal marketing strategies, leveraging traditional festivals to boost sales of new Chinese-style pastries[37]. - The company has emphasized the importance of social scenarios for product consumption, with an increasing trend towards casual and social occasions for baked goods[39]. Industry Trends and Market Analysis - The Chinese baking market is experiencing rapid growth, with a market size expected to reach 307 billion yuan in 2023, up from over 280 billion yuan in 2021, reflecting a compound annual growth rate of 11% from 2016 to 2020[36]. - The baking industry in China is experiencing rapid growth, with a main business income of 453 billion yuan, up 8% year-on-year[88]. - The market concentration in the baking industry remains low, with a CR5 of only 10.4%[91]. - The demand for short-shelf-life baked goods is rising, aligning with health-conscious consumer trends[90]. - Emphasis on food safety and hygiene is a fundamental trend in the baking industry, driven by rising consumer income and health awareness[92]. Corporate Social Responsibility - The company is committed to social responsibility and community engagement as part of its corporate ethos[110]. - The company established the "Star Wish" social welfare program in 2012, focusing on one-on-one support for impoverished children, emphasizing emotional support alongside financial aid[111]. - The company aims to increase the number of beneficiaries in the "Star Wish" program in 2022 and host large-scale charitable events[160]. - The company encourages employees to participate in the "Star Wish" program by providing financial support and gifts to children[160]. Operational Efficiency and Strategy - The company has implemented a digital transformation across all channels, enhancing delivery systems and customer shopping experiences[64]. - The company is committed to improving customer experience by enhancing service quality and understanding customer needs through targeted projects[113]. - The company will deepen its private domain operations by leveraging existing public platforms and exploring new channels, aiming to enhance customer engagement and loyalty[114]. - The company is implementing a digital strategy to upgrade its operations, focusing on data value extraction and the integration of IT systems for seamless marketing[114]. - The company has a structured approach to managing the dilution of immediate returns, linking compensation systems to the execution of return compensation measures[170]. Employee Management and Development - The company has a strong management team with diverse backgrounds in finance, marketing, and operations[130]. - The company has established a performance evaluation system for senior management, linking their compensation to the company's development[155]. - The company’s remuneration policy is based on job value, ability, and performance contribution, ensuring internal equity and market competitiveness[146]. - The training programs for employees include various categories aimed at enhancing skills and aligning with company culture[148]. Compliance and Legal Matters - The company has not faced any penalties from securities regulatory authorities in the past three years[134]. - The company has not reported any violations regarding guarantees during the reporting period[175]. - The company has maintained a clean integrity status for its controlling shareholders and actual controllers[188]. - The company has no significant litigation or arbitration matters during the reporting period[188].

Financial Performance - The company's revenue for Q3 2021 reached ¥1,081,577,413.87, representing a year-over-year increase of 5.12%[4] - Net profit attributable to shareholders was ¥270,479,777.68, reflecting a 1.08% increase compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥265,957,541.44, up by 2.46% year-over-year[4] - Total operating revenue for the first three quarters of 2021 reached ¥2,084,352,046.14, an increase of 11.8% compared to ¥1,863,909,527.01 in the same period of 2020[20] - Net profit for the third quarter of 2021 was ¥332,268,495.56, compared to ¥293,011,210.55 in the same quarter of 2020, representing an increase of 13.4%[22] - Basic earnings per share for the third quarter of 2021 were ¥1.38, up from ¥1.22 in the same quarter of 2020, indicating a growth of 13.1%[23] - The company reported a total profit of ¥414,498,219.21 for the third quarter of 2021, compared to ¥359,352,335.57 in the same quarter of 2020, an increase of 15.3%[22] Assets and Liabilities - Total assets increased by 38.48% to ¥3,532,817,966.00 compared to the end of the previous year[5] - Total current assets as of September 30, 2021, amount to RMB 2,146,364,249.10, an increase from RMB 1,541,330,405.21 in the previous year[15] - Total assets as of September 30, 2021, are RMB 3,532,817,966.00, compared to RMB 2,551,106,712.33 at the end of the previous year[17] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥1,944,700,126.16, compared to ¥1,052,808,052.37 at the end of the previous year, showing a significant increase[18] - Total liabilities included accounts payable of CNY 110,669,069.09 and contract liabilities of CNY 711,239,958.71, indicating significant obligations[29] Cash Flow - Cash flow from operating activities for the first nine months was ¥828,741,822.04, an increase of 29.52%[5] - Cash inflow from operating activities for the first three quarters of 2021 was ¥2,620,713,687.35, compared to ¥2,163,367,007.81 in 2020, marking an increase of 21.2%[25] - The net cash flow from operating activities was CNY 828,741,822.04, an increase from CNY 639,868,395.04 in the previous year, reflecting a growth of approximately 29.5%[26] - The total cash outflow from investing activities was CNY 2,256,853,968.02, compared to CNY 1,976,139,345.06 in the previous year, indicating an increase of about 14.2%[26] - The net cash flow from financing activities was -CNY 364,619,763.43, worsening from -CNY 288,000,000.00 in the previous year[27] - The total cash and cash equivalents at the end of the period were CNY 165,626,158.84, down from CNY 346,688,569.92 in the previous year, representing a decrease of approximately 52.3%[27] Shareholder Information - Total number of common shareholders at the end of the reporting period is 20,817[13] - The largest shareholder, Yuan Zu International Limited, holds 49.50% of shares with 118,791,000 shares[13] - The company has not disclosed any related party relationships among the top shareholders[14] - The company has no applicable financing or margin trading activities reported[14] Operational Costs and Expenses - Total operating costs for the first three quarters of 2021 were ¥1,669,484,201.78, up from ¥1,504,402,752.91 in 2020, reflecting a growth of 11%[20] - The company incurred research and development expenses of ¥12,850,733.70 in the first three quarters of 2021, slightly up from ¥12,369,311.97 in 2020[20] - Financial expenses increased by 20,301.66% due to unrecognized financing cost amortization under the new leasing standards[10] - The cash paid for taxes was CNY 164,396,565.08, up from CNY 112,476,335.12, marking an increase of about 46.2%[26] Changes in Financial Standards - The company executed the new leasing standards starting from January 1, 2021, impacting the financial statements[28] - The company adopted the new leasing standards effective January 1, 2021, impacting financial reporting[30]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,002,774,632.27, representing a year-on-year increase of 20.09% compared to ¥835,036,549.19 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥61,775,529.96, a significant increase of 143.04% from ¥25,417,921.30 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥46,285,980.59, up 519.35% from ¥7,473,289.77 in the same period last year[17]. - The net cash flow from operating activities was ¥192,077,519.12, an increase of 42.86% compared to ¥134,449,368.09 in the previous year[17]. - Basic earnings per share for the first half of 2021 were ¥0.26, a 136.36% increase from ¥0.11 in the same period last year[18]. - The weighted average return on net assets increased to 4.04%, up 2.35 percentage points from 1.69% in the previous year[18]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,923,198,150.40, reflecting a year-on-year increase of 14.59% from ¥2,551,106,712.33[17]. - The net assets attributable to shareholders of the listed company decreased by 12.03% to ¥1,317,547,209.84 from ¥1,497,690,354.45 at the end of the previous year[17]. - Cash and cash equivalents decreased by 29.67% to ¥188,470,263.79, accounting for 6.45% of total assets[43]. - Accounts receivable increased by 111.20% to ¥126,241,156.12, representing 4.32% of total assets due to sales during the Dragon Boat Festival[43]. - Total liabilities included accounts payable of ¥154,448,851.19, up 39.56% from the previous year, representing 5.28% of total assets[43]. Operational Strategy - The company operates nearly 700 physical stores and utilizes various e-commerce platforms for B2B and B2C sales coverage[23]. - The company emphasizes a "central factory + retail" operational model to ensure product quality and safety[24]. - The company has implemented a strict supplier management system to optimize procurement and enhance market bargaining power[24]. - The company is focused on enhancing brand penetration and value through targeted marketing strategies aimed at Gen Z consumers[28]. - The company has established two central baking factories in Shanghai and Chengdu to maintain product quality and production efficiency[25]. Marketing and Sales - The company has focused on seasonal product development, launching themed cakes for various holidays, enhancing customer engagement and product appeal[33]. - Marketing efforts included comprehensive online advertising across multiple platforms, increasing product exposure and targeting specific consumer demographics[34]. - The company has integrated its customer management system with social networks to create a personalized and intelligent customer management platform[36]. Financial Management - The company reported a significant increase in sales expenses, primarily due to rising personnel costs and increased advertising investments to support sales growth[41]. - The company experienced a notable increase in revenue from unclaimed prepaid cards, contributing an additional ¥14,377,362.77 to the operating revenue for the first half of 2021[42]. - The company reported a government subsidy of ¥8,648,353.81, which is closely related to its normal business operations[20]. Environmental and Regulatory Compliance - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[59]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[59]. - The company has complied with environmental laws and regulations, including the Environmental Protection Law of the People's Republic of China[59]. Shareholder and Corporate Governance - The company has committed to avoiding any competitive business activities that may conflict with its current and future business scope[66]. - The company will ensure that any necessary related party transactions comply with legal regulations and are conducted at fair and reasonable commercial terms[67]. - The company will not allow its controlling shareholders or related parties to request advances for salaries, benefits, or other costs from the company[68]. - The company has committed to not transferring benefits to other entities or individuals under unfair conditions, ensuring the protection of shareholder interests[70]. Lease Agreements - The company has entered into a lease agreement with Shanghai Hema Network Technology Co., Ltd. for a commercial space of 800 square meters, with an annual rent of CNY 1,900,000, increasing by 5% every three years[78]. - The company signed a 15-year lease with Starbucks Coffee in Shanghai, with annual rent set at 6% or 7% of net sales, depending on the sales threshold of RMB 540,000[79]. - The company reported no significant impact from the lease agreements on its operations[79][80][81]. Accounting Policies - The company's financial statements are prepared on a going concern basis[130]. - The financial statements comply with the accounting standards set by the Ministry of Finance of the People's Republic of China, reflecting the company's financial position as of June 30, 2021[133]. - Revenue is recognized as the total inflow of economic benefits from the company's ordinary activities, leading to an increase in equity unrelated to shareholder contributions[188]. Cash Flow Management - The company's cash flow from operating activities was CNY 1,238,212,865.74 for the first half of 2021, compared to CNY 1,015,278,320.00 in the same period of 2020, representing a growth of approximately 22%[110]. - The company experienced a net decrease in cash and cash equivalents of ¥65,179,024.34 during the first half of 2021[115]. - The total cash and cash equivalents at the end of the first half of 2021 were ¥107,011,554.19, down from ¥136,213,901.20 at the end of the first half of 2020[115].