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].

Revenue and Profit - Revenue for Q1 2022 was CNY 1,165,989,959, an increase of 2.82% compared to CNY 1,134,006,251 in the same period last year[3] - Net profit attributable to shareholders was CNY 290,587,744, reflecting a growth of 1.34% from CNY 286,745,340 year-over-year[3] - Net profit for Q1 2022 reached CNY 289,302,954, slightly up from CNY 286,365,352 in Q1 2021, indicating a growth of around 1%[17] - The total comprehensive income attributable to the parent company was CNY 290,770,983, up from CNY 279,320,428 in the same period last year[18] - The company’s total comprehensive income for Q1 2022 was CNY 289,750,871, compared to CNY 278,158,000 in Q1 2021, showing an overall improvement[18] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 4.95% to CNY 299,300,737 from CNY 314,895,523 in the previous year[3] - Operating cash inflow for Q1 2022 was CNY 1,297,307,763, an increase from CNY 1,143,967,450 in Q1 2021[19] - Cash and cash equivalents at the end of Q1 2022 totaled CNY 1,684,681,398, up from CNY 1,286,531,101 at the end of Q1 2021[20] - The cash inflow from financing activities was CNY 58,268,052, significantly higher than CNY 4,450,003 in Q1 2021[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,445,106,557, a slight decrease of 0.20% from CNY 13,472,009,754 at the end of the previous year[3] - Total liabilities decreased to CNY 2,462,679,082 from CNY 2,779,333,150, indicating a reduction of approximately 11.4%[14] - The company’s long-term equity investments decreased to CNY 43,681,075 from CNY 46,496,510, a decline of about 6%[12] Shareholder Information - The total number of common shareholders at the end of the reporting period was 50,528, with the largest shareholder holding 50.40% of the shares[9] - Basic and diluted earnings per share remained stable at CNY 0.42 for both Q1 2022 and Q1 2021[18] Expenses - Total operating costs for Q1 2022 amounted to CNY 790,444,106, compared to CNY 763,383,605 in Q1 2021, reflecting an increase of about 3.6%[17] - The company reported a significant increase in sales expenses, which rose to CNY 216,967,961 from CNY 189,956,956, reflecting an increase of about 14.2%[17] - Research and development expenses for Q1 2022 were CNY 1,527,797, up from CNY 1,322,003 in the previous year, representing an increase of approximately 15.6%[17] Financial Performance Metrics - The weighted average return on equity was 2.74%, down from 2.75% in the same period last year, a decrease of 0.01%[3] - The company reported a significant decrease in financial expenses by 75.69% and an increase in interest income by 171.23% due to higher bank deposit interest[7] - The company recorded a total of CNY 6,419,086 in non-recurring gains and losses during the reporting period[5] - The company reported a decrease in other comprehensive income attributable to the parent company, with a net amount of CNY 183,239 compared to -CNY 7,424,912 in the previous year[18] Receivables and Inventory - The company’s receivables decreased significantly, with accounts receivable down by 38.85% and notes receivable down by 51.71%[7] - Inventory levels decreased to CNY 2,779,869,275 from CNY 2,802,622,520, showing a reduction of about 0.8%[12]

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].

Revenue and Profitability - The company's revenue for Q1 2021 reached ¥1,134,006,251, representing a 40.75% increase compared to ¥805,715,048 in the same period last year[3] - Net profit attributable to shareholders was ¥286,745,340, up 22.28% from ¥234,499,910 year-on-year[3] - The basic earnings per share increased to ¥0.42, a rise of 23.53% compared to ¥0.34 in the previous year[3] - The company reported a significant increase in R&D expenses, which rose to CNY 1,322,003 from CNY 717,857, an increase of approximately 84.4%[25] - Operating profit for the current period was CNY 384,836,956, compared to CNY 312,504,138 in the previous period, showing an increase of about 23.1%[25] - The total profit for the current period was CNY 386,232,582, up from CNY 315,151,626, representing a growth of approximately 22.6%[26] - The company’s total comprehensive income for the current period was CNY 278,158,000, compared to CNY 225,946,921 in the previous period, indicating an increase of about 22.9%[26] Cash Flow and Liquidity - Cash flow from operating activities was ¥314,895,523, compared to a negative cash flow of ¥118,493,699 in the same period last year[3] - The cash inflow from operating activities reached CNY 1,143,967,450, a significant increase from CNY 798,049,059 in the previous period, representing a growth of approximately 43.3%[31] - The net cash flow from operating activities was CNY 314,895,523, compared to a negative cash flow of CNY -118,493,699 in the same period last year, indicating a turnaround[31] - The net increase in cash and cash equivalents was CNY 233,865,995, contrasting with a decrease of CNY -219,888,455 in the previous year[32] - The total cash and cash equivalents at the end of the period stood at CNY 1,286,531,101, up from CNY 1,177,511,014 at the end of the previous period[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥13,456,572,813, reflecting a 2.70% increase from ¥13,102,481,541 at the end of the previous year[3] - Total liabilities rose to CNY 2,676,627,857, compared to CNY 2,598,050,907, indicating an increase of around 3%[19] - Current liabilities decreased slightly to CNY 2,212,767,203 from CNY 2,244,942,746, a reduction of approximately 1.4%[19] - Owner's equity increased to CNY 10,779,944,956 from CNY 10,504,430,634, marking a growth of about 2.6%[20] - The company’s total liabilities increased by CNY 125,716,975 due to the new leasing liabilities[37] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 53,529, with the largest shareholder, Yantai Zhangyu Group Co., Ltd., holding 50.40% of the shares[6] - The total equity attributable to shareholders reached CNY 10,267,832,644, with retained earnings of CNY 8,714,091,755[37] Expenses and Costs - Total operating costs amounted to CNY 763,383,605, up from CNY 503,718,024, indicating a rise of about 51.5%[25] - Marketing expenses surged by 79.84% due to increased investment in marketing efforts[10] - Financial expenses increased by 58.18% as a result of the new leasing standards implemented in 2021[10] - The company experienced a decrease in investment income, reporting a loss of CNY 834,725 compared to a loss of CNY 504,952 in the previous period[25] Inventory and Receivables - Inventory reached ¥3,003,633,671 as of March 31, 2021, compared to ¥2,945,548,651 at the end of 2020[17] - Accounts receivable decreased to ¥151,141,109 from ¥183,853,362 year-over-year[17] Other Financial Information - There were no major contracts or commitments that were not fulfilled during the reporting period[14] - The company has not engaged in any trust investment during the reporting period[14] - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[15] - The company reported a significant increase in cash inflow from investment income, reaching CNY 680,070,741 compared to CNY 82,242,639 in the previous year[33]

Financial Performance - The company reported a profit distribution plan of 4 RMB (including tax) per 10 shares, based on a total of 685,464,000 shares[5]. - The company's operating revenue for 2020 was CNY 3,395,402,001, a decrease of 33.08% compared to CNY 5,074,025,899 in 2019[12]. - The net profit attributable to shareholders for 2020 was CNY 470,860,587, down 58.75% from CNY 1,141,367,296 in 2019[12]. - The net profit after deducting non-recurring gains and losses was CNY 397,655,187, a decline of 55.44% from CNY 892,496,644 in 2019[12]. - The basic earnings per share for 2020 was CNY 0.69, a decrease of 58.68% compared to CNY 1.67 in 2019[12]. - The total assets at the end of 2020 were CNY 13,102,481,541, a decrease of 4.81% from CNY 13,764,855,252 at the end of 2019[12]. - The net assets attributable to shareholders at the end of 2020 were CNY 10,267,832,644, down 1.29% from CNY 10,402,248,821 at the end of 2019[12]. - The company reported a significant decline in quarterly performance, with Q4 2020 revenue reaching CNY 1,202,662,311, compared to CNY 805,715,048 in Q1 2020[16]. - The company achieved a gross margin of 55.71% in the alcoholic beverage manufacturing sector, down 7.29% from the previous year[39]. - The total comprehensive income for 2020 was CNY 470,860,587 for the consolidated report and CNY 427,160,774 for the parent company[72]. Shareholder Returns - The company distributed a cash dividend of 7 RMB per 10 shares for the 2019 fiscal year, totaling 479,824,800 RMB, which represents 42.04% of the net profit attributable to shareholders[68]. - For the 2020 fiscal year, the proposed cash dividend is 4 RMB per 10 shares, amounting to 274,185,600 RMB, which is 64.19% of the net profit attributable to shareholders[69]. - The cash dividend payout ratio for 2020 is 58.23%, reflecting the company's commitment to returning value to shareholders[70]. - The company has maintained a consistent cash dividend policy over the past three years, with cash dividends totaling 1,165,288,800 RMB[70]. - The company’s distributable profits for 2020 were 470,860,587 RMB, supporting the proposed dividend distribution[71]. Business Operations - The company has maintained its core business in wine production, with no changes in the controlling shareholder since its establishment[10]. - The company’s business scope includes the production and sale of various alcoholic beverages, including wine and distilled spirits, as well as non-alcoholic beverages[10]. - The company operates a three-tier marketing network with approximately 4,447 distributors at the end of 2020, a decrease of 96 from the beginning of the year[28]. - The company has established a national-level wine research and development center, enhancing its product innovation capabilities and quality control systems[24]. - The company has completed its global production capacity layout in major wine-producing countries, including China, France, Chile, Spain, and Australia[24]. - The company’s product offerings include over 100 varieties of wine and brandy, catering to different consumer segments[24]. Market Position and Strategy - The company has maintained its position as a leading player in the domestic wine industry despite short-term market challenges[19]. - The company maintains a strong market position with a market share that further distances it from domestic competitors despite the overall industry downturn[26]. - The company emphasizes a strategy focused on high-end products and consumer cultivation to drive growth despite market challenges[26]. - The company plans to strengthen its sales systems for domestic wine, focusing on strategic brands and targeted marketing efforts in key regions[62]. - The company intends to develop high-end brands and expand product lines, including the introduction of new products like Koya 30-year XO and Koya 1915 commemorative wine[64]. Financial Management and Governance - The company’s financial report has been confirmed by the board of directors, ensuring its accuracy and completeness[4]. - The company’s accounting firm is KPMG Huazhen, which is responsible for auditing its financial statements[11]. - The company has established a governance structure that complies with legal requirements, including a board of directors with independent members[133]. - The company has implemented a new revenue recognition policy effective January 1, 2020, in accordance with the Ministry of Finance's revised accounting standards[75]. - The audit opinion issued by KPMG was a standard unqualified opinion, confirming the fair presentation of the financial statements[155]. Risk Management - The company emphasizes the importance of risk awareness in its future development outlook, advising investors to be cautious[5]. - The company recognizes risks such as raw material price fluctuations, market investment uncertainties, and potential transportation issues that could impact operations[65][66]. Employee and Management Structure - The total number of employees in the company is 2,560, with 1,205 in the parent company and 1,355 in major subsidiaries[126]. - The company has established a comprehensive salary and welfare system, ensuring all employees are insured[127]. - The company has implemented a performance-based remuneration system for independent directors and senior management[124]. - The company emphasizes the importance of training for middle and senior management, focusing on strategic thinking and decision-making capabilities[128]. Social Responsibility and Sustainability - The company completed its poverty alleviation work for the year 2020, with a total investment of 540,000 RMB in targeted poverty alleviation efforts[96]. - The company has established a wastewater treatment plant that utilizes hydrolysis-aerobic biological treatment technology[100]. - The management emphasized the importance of sustainability initiatives, planning to reduce carbon emissions by 30% over the next five years[118].

Financial Performance - Operating revenue for the reporting period was CNY 774,191,143, representing a decline of 21.06% year-on-year[2] - Net profit attributable to shareholders was CNY 85,120,851, down 34.60% from the same period last year[2] - The net profit after deducting non-recurring gains and losses was CNY 73,406,867, a decrease of 38.68% year-on-year[2] - Basic earnings per share were CNY 0.12, down 36.84% from the previous year[2] - Net profit attributable to shareholders decreased by 45.50% to $403.76 million, largely due to a drop in sales revenue[9] - Total operating revenue for the third quarter was CNY 774,191,143, a decrease of 21.1% compared to CNY 980,743,772 in the same period last year[26] - Net profit for the period was CNY 86,137,141, representing a decline of 33.9% from CNY 130,484,458 in the previous year[27] - The company anticipates a significant change in net profit for the year, potentially indicating a loss compared to the previous year[15] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 13,049,517,856, a decrease of 5.21% compared to the previous year[2] - Current assets totaled CNY 4,898,611,517, down from CNY 5,446,345,340, indicating a decrease of about 10.1%[16] - Total liabilities decreased to CNY 2,600,822,105 from CNY 3,094,578,080, a reduction of around 16%[19] - The company's cash and cash equivalents decreased to CNY 1,203,006,675 from CNY 1,597,410,774, a decline of about 24.7%[16] - Total assets decreased to CNY 10,689,518,971 from CNY 11,168,022,159, reflecting a decline of 4.3%[24] - Total liabilities decreased to CNY 858,133,253 from CNY 962,626,128, a reduction of 10.9%[24] - The company's equity decreased to CNY 9,831,385,718 from CNY 10,205,396,031, a decline of 3.7%[24] Cash Flow - The net cash flow from operating activities increased by 78.23% to CNY 268,955,826 compared to the previous year[2] - Cash inflow from operating activities decreased by 31.43% to $2.41 billion, reflecting lower sales revenue[10] - Cash flow from operating activities for the current period is 252,437,074, a decrease of 61.6% from 656,726,875 in the previous period[39] - The net cash flow from operating activities was -115,350,511 CNY, compared to -174,011,955 CNY in the previous period, indicating an improvement of approximately 33.8%[41] Shareholder Information - The company reported a total of 48,873 shareholders at the end of the reporting period[4] - The largest shareholder, Yantai Zhangyu Group Co., Ltd., held 50.40% of the shares[4] Other Financial Metrics - The weighted average return on net assets was 0.92%, a decrease of 0.45% compared to the same period last year[2] - Research and development expenses were CNY 869,269, down 24.4% from CNY 1,149,179 in the previous year[26] - Other comprehensive income after tax was CNY 3,475,361, compared to a loss of CNY 16,794,085 in the same period last year[27] - The company reported a credit impairment loss of CNY 3,024,194, compared to a loss of CNY 2,284,006 in the previous year[26]

证券代码：000869、200869 证券简称：张裕 A、张裕 B 公告编号：2020－临 38 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 2020 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 2020 年 9 月 29 日（星期二）下午 15:00-16:55 参加山东上市公司 协会举办的"山东辖区上市公司 2020 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、发展战略、经营状况和可持续发 展等投资者关注的问题进行沟通，欢迎广大投资者 ...