证券代码：000869、200869 证券简称：张裕 A、张裕 B 烟台张裕葡萄酿酒股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------|---------------------|----------------------------------------------------------------------------------------| | | | | | 投资者关 | | □特定对象调研 □ 分析师会议 | | 系活动类 | □ | 媒体采访 □业绩说明会 | | 别 | □ | 新闻发布会 □路演活动 | | | □ 现场参观 | | | | ★其他 | | | 参与单位 | | 王廷广、李紫超、刘毅、丁斌、张保军、黄铠、刘肖丽、李渊、郑康琳、王建伦、张贺、刘书校、 | | 名称及人 | 解茹、赵文杰、 | 徐建林、李红梅等。 | | 员姓名 | | | | 时间 | 2018 年 10 月 | 20 日 -21 日 | | 地点 | 网络 | | | 上市公司 | 李廷国先生。 | | | 接待人员 | | | | 姓名 | | | 1 ...

证券代码：000869、200869 证券简称：张裕 A、张裕 B 烟台张裕葡萄酿酒股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------|-------------------------|---------------------------------------------------------------------------------| | | | | | 投资者关 | | □特定对象调研 ★分析师会议 | | 系活动类 | | □媒体采访 □业绩说明会 | | 别 | □ | 新闻发布会 □路演活动 | | | □现场参观 | | | | □ 其他 | | | 参与单位 | | 太平洋证券股份有限公司 蔡雪昱；合众资产管理股份有限公司 苏扬；长江证券股份有限 | | 名称及人 | | 公司 董思远；诺安基金管理有限公司 周彪；民生证券股份有限公司 汪玲；华商基金管理 | | 员姓名 | | 有限公司 高大亮；泰康资产管理有限公司 王成等。 | | 时间 | 2018 年 6 月 29 | 日 | | 地点 | 烟台 | | | 上市公司 | 李廷国 ...

证券代码：000869、200869 证券简称：张裕 A、张裕 B 公告编号：2022—024 烟台张裕葡萄酿酒股份有限公司 关于参加2022年度山东辖区上市公司投资者网上集体接待日公告 为进一步加强与投资者的互动交流工作，构建和谐投资者关系，烟台 张裕葡萄酿酒股份有限公司（以下简称"公司"）将参加由山东证监局、 山东上市公司协会、深圳市全景网络有限公司共同举办的"2022 年度山东 辖区上市公司投资者网上集体接待日"活动，现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的平台举行， 投资者可以登录"全景路演"（http://rs.p5w.net/），参与本次投资者 集体接待日活动。活动时间为2022年11月16日（星期三）下午14:00至16:00。 届时公司董事、副总经理兼董事会秘书姜建勋先生、证券事务代表李廷国 先生将通过网络在线交流形式与投资者就公司治理、发展战略、经营状况、 融资计划、股权激励和可持续发展等投资者关注的问题进行沟通。 欢迎广大投资者积极参与。 特此公告！ 烟台张裕葡萄酿酒股份有限公司 董事会 二○二二年十一月十二日 ...

Revenue and Profit - Revenue for Q3 2022 reached ¥857,930,890, an increase of 7.68% year-over-year, while year-to-date revenue totaled ¥2,811,023,025, up 5.23% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2022 was ¥75,890,351, a decrease of 4.83% year-over-year, with year-to-date net profit at ¥434,349,954, down 3.81% compared to the previous year[3] - Basic earnings per share for Q3 2022 was ¥0.11, reflecting an 8.33% decline year-over-year, while diluted earnings per share also stood at ¥0.11[3] - Net profit for the third quarter was CNY 416,321,189, down from CNY 449,107,818, indicating a decrease of approximately 7.3% year-over-year[14] - The basic and diluted earnings per share were both CNY 0.63, down from CNY 0.66 in the previous period, representing a decrease of approximately 4.5%[15] Assets and Liabilities - Total assets as of the end of Q3 2022 were ¥13,094,530,385, representing a decrease of 2.80% from the end of the previous year[3] - The total assets of the company decreased to CNY 13,094,530,385 from CNY 13,472,009,754, a decline of about 2.8%[12] - The company's long-term equity investments decreased to CNY 41,765,666 from CNY 46,496,510, reflecting a decline of approximately 10.1%[12] - The total liabilities decreased to CNY 2,303,556,742 from CNY 2,779,333,150, a reduction of approximately 17.1%[13] Cash Flow - Cash flow from operating activities year-to-date was ¥738,690,855, down 6.75% compared to the same period last year[3] - The net cash flow from operating activities was CNY 738,690,855, down from CNY 792,193,127 in the previous period, indicating a decline of about 6.7%[17] - The cash flow from financing activities resulted in a net outflow of -CNY 500,149,385, compared to -CNY 299,502,924 in the previous period, indicating a significant increase in cash outflow[18] - The total cash outflow for financing activities was CNY 1,005,398,006, compared to CNY 981,236,949 in the previous period, indicating a slight increase in cash outflow[18] Research and Development - Research and development expenses increased by 145.70% year-to-date, indicating a significant boost in investment towards innovation[6] - Research and development expenses increased significantly to CNY 9,148,719 from CNY 3,723,499, representing a growth of about 146.5%[14] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 45,870, with the largest shareholder, Yantai Zhangyu Group Co., Ltd., holding 50.40% of shares[9] Tax and Other Income - The company reported a 426.95% increase in tax refunds received year-to-date, primarily due to input tax refunds[7] - Non-operating income for Q3 2022 totaled ¥7,808,640, with government subsidies contributing ¥11,161,122 to this figure[4] - The company received CNY 187,357,349 in tax refunds, significantly higher than CNY 35,554,848 in the previous period, marking an increase of over 426%[17] - The company reported a decrease in other comprehensive income attributable to the parent company of CNY -6,409,785, compared to CNY -17,140,870 in the previous period, showing an improvement[15] Inventory and Operating Costs - Total operating costs increased to CNY 2,258,273,691 from CNY 2,079,791,757, reflecting a rise of about 8.61%[14] - Inventory levels rose to CNY 2,951,626,146 from CNY 2,802,622,520, marking an increase of approximately 5.3%[12]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,953,092,135, representing a 4.19% increase compared to CNY 1,874,460,437 in the same period last year[11]. - Net profit attributable to shareholders was CNY 358,459,603, a decrease of 3.59% from CNY 371,821,819 in the previous year[11]. - The net cash flow from operating activities was CNY 606,273,595, showing a significant increase of 32.97% compared to CNY 455,935,149 in the same period last year[11]. - Basic earnings per share decreased by 3.70% to CNY 0.52 from CNY 0.54 in the previous year[11]. - The company achieved operating revenue of 195.309 million yuan in the first half of 2022, an increase of 4.19% year-on-year[29]. - The net profit attributable to shareholders was 35.845 million yuan, a decrease of 3.59% compared to the same period last year[29]. - The company reported a profit margin of 17.8% for the first half of 2022, down from 19.8% in the previous year[93]. - The company reported a total comprehensive income of CNY 352,062,107, which includes a net profit of CNY 358,459,603 for the period[103]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,284,166,296, down 1.39% from CNY 13,472,009,754 at the end of the previous year[11]. - The company's total liabilities rose to CNY 1,027,493,704 as of June 30, 2022, compared to CNY 833,893,367 at the end of 2021, indicating an increase of approximately 23.2%[91]. - The total equity attributable to shareholders reached CNY 10,750,296,491, up from CNY 10,729,939,900, showing a slight increase of 0.19%[91]. - The company's cash and cash equivalents increased significantly to CNY 1,084,199,585 from CNY 562,588,819, representing an increase of 93.0%[89]. - The company's total liabilities at the end of the reporting period are CNY 1,755,207,579[104]. Revenue Sources and Sales - Domestic business revenue accounted for 85.01% of total revenue, with a year-on-year growth of 2.03%, while international business revenue grew by 18.42%[34]. - The sales volume for wine in the first half of 2022 was 32,315 tons, an increase from 31,428 tons in the first half of 2021, while brandy sales decreased from 14,191 tons to 13,198 tons[25]. - The company’s online direct sales revenue for the first half of 2022 was CNY 233,729,556, with a gross profit margin of 57.17%[21]. - Online sales significantly increased due to partnerships with e-commerce platforms like JD and Tmall, and the introduction of short videos on platforms such as Kuaishou and Douyin[30]. Investments and R&D - Research and development investment surged by 122.36% to ¥5,509,656, indicating a significant increase in new product and technology development efforts[33]. - The company is investing 50 million RMB in research and development for new fermentation technologies aimed at improving product quality[119]. - The company has ongoing investments in new product development and market expansion strategies, although specific figures were not disclosed in the report[90]. Risk Management - The company faced potential risks in its operations, which are detailed in the management discussion section of the report[3]. - The company faces risks related to raw material price fluctuations, market input-output uncertainties, and product transportation challenges, which could impact operational performance[47][48]. - The company has implemented a robust financial management and auditing system to mitigate operational risks and ensure market order[32]. Corporate Governance - The company held its annual general meeting on May 27, 2022, with a participation rate of 60.42%[49]. - The company has appointed new directors and supervisors as of May 27, 2022, including Jiang Jianxun and Wang Zhuquan[50]. - The company has no stock incentive plans or employee stock ownership plans in place during the reporting period[52]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[53]. - The company has implemented stringent safety management measures to eliminate potential risks and ensure operational safety[33]. - The company has implemented a "company + farmer" model to support rural revitalization, improving local agricultural efficiency and farmer income[55]. Future Outlook - The company anticipates a revenue growth of 10% for the next fiscal year, projecting total revenue to reach approximately 1.65 billion RMB[119]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on premium wine products[119]. - Market expansion efforts include entering three new international markets, projected to increase overall market share by 5%[119]. Accounting and Financial Reporting - The company has implemented new accounting standards for financial instruments and revenue recognition since January 1, 2019, and January 1, 2020, respectively[109]. - The company’s financial statements comply with the requirements of the Ministry of Finance and the China Securities Regulatory Commission[110]. - The company does not disclose additional segment reporting information due to the significant concentration of its operations in China[196].

烟台张裕葡萄酿酒股份有限公司 2022 年第一季度报告全文 证券代码：000869、 200869 证券简称：张 裕Ａ、张裕 B 公告编号：2022-定全 02 烟台张裕葡萄酿酒股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.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)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 1 烟台张裕葡萄酿酒股份有限公司 2022 年第一季度报告全文 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | --- | --- | --- | --- | |----------------------------------------------------|----------------|-------- ...

Financial Performance - The company's operating revenue for 2021 was CNY 3,953,067,583, representing a year-on-year increase of 16.42%[28]. - The net profit attributable to shareholders for 2021 was CNY 500,102,606, an increase of 6.21% compared to the previous year[28]. - The net cash flow from operating activities reached CNY 1,125,382,658, showing a significant increase of 122.78% year-on-year[28]. - The company maintained a basic and diluted earnings per share of CNY 0.73, up 5.80% from the previous year[28]. - Total assets at the end of 2021 were CNY 13,472,009,754, reflecting a 2.82% increase from the end of 2020[28]. - The company reported a weighted average return on equity of 4.84% for 2021, slightly up from 4.57% in 2020[28]. - The company achieved operating revenue of CNY 3,953,067,583 in 2021, representing a year-on-year growth of 16.42%[53]. - The net profit attributable to shareholders reached CNY 500,100,000, an increase of 6.21% compared to the previous year[53]. - The gross profit margin for the total sales was 58.32%, up from 55.71% in the previous year[53]. - The total operating revenue for 2021 reached CNY 3,953,067,583, representing a year-on-year increase of 16.42% compared to CNY 3,395,402,001 in 2020[57]. - Wine sales accounted for 71.69% of total revenue, amounting to CNY 2,834,114,276, with a year-on-year growth of 16.90%[57]. - Brandy sales generated CNY 1,036,164,837, which is 26.22% of total revenue, reflecting an 18.09% increase from the previous year[57]. - Domestic sales contributed CNY 3,421,775,481, making up 86.56% of total revenue, with an 18.44% increase year-on-year[57]. Dividend Distribution - The company plans to distribute a cash dividend of 4.50 RMB per 10 shares (including tax) to all shareholders, based on a total share capital of 685,464,000 shares[10]. - The company distributed a cash dividend of 4.50 yuan per 10 shares, totaling 308,458,800 yuan, which accounted for 100% of the total profit distribution[182]. - The proposed cash dividend distribution is RMB 4.5 per 10 shares, totaling RMB 308,458,800, with the remaining undistributed net profit carried forward to the next year[185]. Business Operations - The company reported that its main business includes the production, processing, and sales of wine, distilled spirits, and non-alcoholic beverages, with a focus on expanding its market presence[23]. - The company has not reported any changes in its business scope since its last adjustment in 2016, maintaining a consistent focus on wine and related products[23]. - The company operates primarily through a distribution model, with approximately 4,831 distributors by the end of the reporting period, an increase of 384 from the beginning of the year[42][43]. - The company has established a nationwide marketing network, enhancing its marketing capabilities and market expansion efforts[49]. - The company has completed a global capacity layout in major wine-producing countries, allowing better utilization of quality resources[50]. - The online sales channel has shown rapid growth, ranking first in the total online sales of the wine industry[53]. - The company has focused on high-end products to enhance brand influence and long-term development[54]. - The company aims to adapt its marketing strategies to consumer preferences and enhance product quality to drive future growth[36]. - The company has ongoing construction projects with a total actual investment of ¥3,984,165,800, including the Yantai Zhangyu International Wine City projects[84]. Research and Development - Research and development expenses surged by 140.97%, reflecting the company's increased investment in R&D and the acquisition of new scientific equipment[53]. - The company acquired three national invention patents for wine technology and two for brandy, emphasizing its commitment to innovation[55]. - The company has initiated a strategic partnership with a local distributor in Europe to enhance market penetration[142]. - Research and development investments have increased by 10%, focusing on innovative wine production techniques[142]. Risk Management - The company emphasizes the importance of risk management in its future development outlook, advising investors to be aware of potential investment risks[10]. - The company recognizes risks such as raw material price fluctuations, market input-output uncertainties, and transportation risks, and will implement strategies to mitigate these risks[104][105][106]. - The company acknowledges the potential impact of external factors such as exchange rate fluctuations and pandemic risks on its operations[108]. Corporate Governance - The company has independent financial departments and operates a complete and independent financial accounting system[125]. - The company has a total of 5 independent directors, accounting for more than one-third of the board[115]. - The company has established a robust organizational structure with independent functioning of the board and supervisory committee[126]. - The company actively respects and protects the rights of stakeholders and engages in social responsibility initiatives[118]. - The company has a dedicated investor relations management responsible for information disclosure and shareholder communication[122]. - The company has no significant differences in governance practices compared to regulations set by the China Securities Regulatory Commission[122]. Employee Management - The total number of employees at the end of the reporting period was 2,297, with 1,131 in the parent company and 1,166 in major subsidiaries[164]. - The company has implemented a comprehensive compensation and benefits system, ensuring all employees are covered by social insurance[161]. - The company has established a training program for middle and senior management to enhance strategic thinking and decision-making capabilities[166]. - The company encourages employees to participate in professional training and qualification exams to enhance their skills and knowledge[168]. Environmental Responsibility - The company has constructed a wastewater treatment plant that utilizes hydrolysis-aerobic biological treatment technology[200]. - The total discharge of pollutants is 35m³/d, while the approved discharge limit is 120m³/d, indicating no exceedance of discharge standards[198]. - The company has implemented a complete emergency response plan for sudden environmental incidents[200]. - The company has established a comprehensive environmental self-monitoring plan[200]. - The company has received environmental protection approval from the Huanren Manchu Autonomous County Environmental Protection Bureau[200].

证券代码：000869、200869 证券简称：张裕 A、张裕 B 公告编号：2021—021 烟台张裕葡萄酿酒股份有限公司 关于参加山东辖区上市公司 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。 为进一步加强与投资者的互动交流工作，构建和谐投资者关系，切实提高 上市公司透明度和治理水平，烟台张裕葡萄酿酒股份有限公司（以下简称"公 司"）定于 2021 年 11 月 16 日（星期二）下午 14:00-16:00 参加山东上市公 司协会举办的"山东辖区上市公司 2021 年度投资者网上集体接待日"活动， 现将有关事项公告如下： 本次投资者网上集体接待日活动将通过网上平台采取网络远程的方式举 行，活动网址：全景·路演天下 http://rs.p5w.net。投资者可以登录活动网 址参与本次活动。 届时公司副总经理、董事会秘书姜建勋先生、证券事务代表李廷国先生将 通过网络在线交流形式与投资者就公司治理及社会责任、经营状况、发展战略、 风险防控、2021 年第三季度报告等投资者 ...

Revenue and Profit - Revenue for the third quarter reached ¥796,762,047, an increase of 2.92% year-over-year, while year-to-date revenue totaled ¥2,671,222,485, reflecting a growth of 21.82%[4] - Net profit attributable to shareholders was ¥79,742,460, a decrease of 6.32% compared to the same period last year, with year-to-date net profit at ¥451,564,279, up 11.84%[4] - Total operating revenue for Q3 2021 reached CNY 2,671,222,485, an increase of 21.8% compared to CNY 2,192,739,690 in Q3 2020[16] - Net profit for Q3 2021 was CNY 449,107,818, compared to CNY 407,207,523 in Q3 2020, representing an increase of 10.3%[16] - The net profit attributable to the parent company for Q3 2021 was CNY 451,564,279, an increase of 11.8% compared to CNY 403,760,926 in the same period last year[17] - The total comprehensive income attributable to the parent company for Q3 2021 was CNY 434,423,409, up from CNY 401,128,978 in Q3 2020, reflecting a growth of 8.3%[17] Earnings Per Share - Basic and diluted earnings per share remained at ¥0.12 for the quarter, with year-to-date earnings per share at ¥0.66, an increase of 11.86%[4] - Basic and diluted earnings per share for Q3 2021 were both CNY 0.66, up from CNY 0.59 in Q3 2020, indicating a growth of 11.9%[17] Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 213.82%, amounting to ¥792,193,127, primarily due to higher cash receipts from sales[4][8] - Operating cash flow for the period was CNY 792,193,127, significantly higher than CNY 252,437,074 in the previous year, marking a year-over-year increase of 213.5%[18] - Cash received from sales of goods and services reached CNY 2,812,156,999, compared to CNY 2,310,331,855 in the same period last year, representing a growth of 21.7%[18] - The net cash flow from investing activities was -CNY 137,248,160, worsening from -CNY 75,766,375 in the previous year[19] - The net cash flow from financing activities was -CNY 299,502,924, an improvement from -CNY 549,249,697 in the same period last year[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥13,336,405,794, representing a 1.79% increase from the end of the previous year[4] - Current assets totaled CNY 5,167,540,029, an increase of 3.6% from CNY 4,989,551,216 at the end of 2020[14] - Total liabilities increased to CNY 2,681,644,220 from CNY 2,598,050,907, marking a rise of 3.2%[15] - The company reported a decrease in long-term payables to CNY 64,000,000 from CNY 86,000,000, a reduction of 25.6%[15] - Total liabilities were CNY 2,598,050,907, down by CNY 107,870,245 from the previous period[23] Expenses - Sales expenses increased by 38.70%, attributed to higher marketing investments[8] - Research and development expenses for the quarter were CNY 3,723,499, compared to CNY 2,675,257 in the previous year, indicating a growth of 39.1%[16] Other Income and Comprehensive Income - Other income decreased by 45.52%, mainly due to a reduction in government subsidies received[8] - The company reported a decrease in other comprehensive income attributable to the parent company, with a net amount of -CNY 17,140,870 compared to -CNY 2,631,948 in the previous year[17] Financial Reporting and Standards - The company does not have any non-recurring gains or losses to report for the period[6] - The third-quarter report was not audited, indicating preliminary financial results[24] - The company has implemented a new leasing standard effective from January 1, 2021, impacting financial reporting[24]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,874,460,437, representing a 32.14% increase compared to CNY 1,401,606,792 in the same period last year[9]. - The net profit attributable to shareholders of the listed company was CNY 371,821,819, which is a 16.69% increase from CNY 307,035,572 in the previous year[9]. - The basic earnings per share increased to CNY 0.54, up 17.39% from CNY 0.45 in the same period last year[9]. - The total operating revenue for the first half of 2021 was CNY 1,874,460,437, representing a year-on-year increase of 32.14% compared to CNY 1,418,548,547 in the same period last year[32]. - The total profit for the first half of 2021 was CNY 508.89 million, an increase of 17.1% compared to CNY 434.52 million in the same period last year[87]. - The net profit attributable to the parent company was CNY 371.82 million, up 16.7% from CNY 318.64 million year-on-year[87]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 13,369,160,872, reflecting a 2.04% increase from CNY 13,286,972,498 at the end of the previous year[9]. - The total liabilities of the company were RMB 2,794,970,762, compared to RMB 2,598,050,907 at the end of 2020, marking an increase of approximately 7.58%[82]. - The total equity attributable to shareholders of the parent company was RMB 10,333,217,946, up from RMB 10,267,832,644, representing a growth of about 0.64%[82]. - The cash balance at the end of the period was 1,392,384,794 RMB, compared to 1,333,387,007 RMB in the previous period, indicating a healthy cash position[92]. Cash Flow - The net cash flow from operating activities was CNY 455,935,149, a significant increase of 2,860.11% compared to a negative cash flow of CNY 29,652,821 in the same period last year[9]. - Cash and cash equivalents increased significantly to CNY 616,538,061 from CNY 267,548,326, marking a growth of 130%[83]. - The net cash flow from investment activities was 402,462,411 RMB, compared to 184,349,656 RMB in the previous period, showing a strong performance in asset management[95]. Sales and Marketing - The company generated total operating revenue of CNY 1,874,460,437 with a gross profit margin of 59.37% for the first half of 2021, compared to CNY 1,418,548,546 and a gross profit margin of 59.48% in the same period of 2020[19]. - Revenue from wine sales amounted to CNY 1,307,676,111, accounting for 69.76% of total revenue, with a year-on-year growth of 31.85%[33]. - Domestic sales contributed CNY 1,627,153,708, representing 86.81% of total revenue, with a significant year-on-year growth of 35.53%[32]. - The company has established a nationwide marketing network with over 4,600 distributors, increasing the total number of distributors from 4,447 at the end of 2020 to 4,687 by June 30, 2021[17]. Production and Inventory - The company produced 28,229 tons of wine and 8,449 tons of brandy in the first half of 2021, with sales of 31,428 tons of wine and 14,191 tons of brandy, resulting in inventory levels of 13,697 tons for wine and 5,962 tons for brandy[23]. - The company’s inventory stood at CNY 2,920,940,415, accounting for 21.85% of total assets, with no significant changes reported[36]. Research and Development - The company has a robust research and development system supported by a national-level wine research center, enhancing its product innovation capabilities[24]. - Research and development expenses increased to CNY 2,477,835, up from CNY 1,805,988, representing a growth of 37.1%[86]. Social Responsibility and Environmental Compliance - The company donated RMB 300,000 to Wushan County in Chongqing to support poverty alleviation efforts, demonstrating its commitment to social responsibility[53]. - The company has established a wastewater treatment plant that utilizes hydrolysis-aerobic biological treatment technology, ensuring compliance with national standards for pollutant discharge[51]. - There are no significant environmental penalties or violations reported during the reporting period, reflecting the company's adherence to environmental standards[53]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[3]. - The annual shareholders' meeting had a participation rate of 61.95% on May 27, 2021[49]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[50]. Risks and Challenges - The company faces risks related to raw material price fluctuations, market input-output uncertainties, and product transportation challenges, which could impact operational performance[47]. - The company attributed the revenue growth to increased marketing efforts following the easing of COVID-19 restrictions, leading to higher sales volumes of wine and brandy[35].