Financial Performance - The company's operating revenue for the first half of 2019 was ¥16,716,242.14, representing a 103.13% increase compared to ¥8,229,129.55 in the same period last year[19]. - The net profit attributable to shareholders was -¥16,340,779.70, an improvement of 45.32% from -¥29,886,342.70 year-on-year[19]. - The net cash flow from operating activities was -¥12,036,812.74, a significant decline of 1,926.04% compared to -¥594,106.06 in the previous year[19]. - The basic and diluted earnings per share were both -¥0.09, showing a 47.06% improvement from -¥0.17 in the same period last year[19]. - The company reported a net profit attributable to shareholders of CNY -16,340,779.70, a reduction in losses by 45.32% year-on-year[32]. - The company's net loss for the first half of 2019 was CNY 13,147,384.03, compared to a net loss of CNY 26,285,056.28 in the first half of 2018, indicating an improvement in financial performance[124]. - The total comprehensive income for the first half of 2019 was a loss of CNY 16,349,718.56, which is an improvement from a loss of CNY 29,886,342.70 in the same period last year[125]. Assets and Liabilities - Total assets at the end of the reporting period were ¥228,974,722.77, a slight increase of 0.21% from ¥228,498,240.72 at the end of the previous year[19]. - The net assets attributable to shareholders were -¥254,520,207.88, a decrease of 6.86% from -¥238,179,428.18 at the end of the previous year[19]. - The company's total assets decreased to CNY 235,421,011.73 from CNY 245,000,455.76, a decline of about 3.9%[120]. - The total liabilities at the end of the reporting period were CNY 600.00 million, indicating a manageable debt level[145]. - The company reported a total liability of 64,706,300 CNY, primarily due to pending litigation claims[56]. Cash Flow - The company reported a significant increase in cash flow from financing activities, amounting to CNY 13,699,000.00, a 3,669.38% increase[36]. - The cash inflow from financing activities was 13,700,000.00 yuan, while cash outflow was only 1,000.00 yuan, resulting in a net cash flow of 13,699,000.00 yuan[138]. - The cash flow from investment activities was negative, with a net cash flow of -38,395.00 yuan[137]. - The cash outflow for operating activities totaled 19,777,493.22 yuan, compared to 202,396.49 yuan in the same period last year[137]. Operational Changes and Strategies - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company is planning to expand its marketing team and enhance its advertising strategies[34]. - The company has opened online sales channels through its official website and WeChat[33]. - The company aims to strengthen its marketing efforts and expand its market presence, particularly in Gansu province[57]. - The company is actively seeking support from its major shareholder, Gansu Shengda Group, to address financial challenges[57]. - The company is focusing on enhancing shareholder value through potential equity adjustments and capital management strategies[146]. Legal and Regulatory Issues - The company faces the risk of being delisted due to consecutive years of negative net profit and negative net assets[6]. - The company is actively cooperating with investigations by the China Securities Regulatory Commission and public security agencies regarding an emphasized matter in the internal control audit report[64]. - The company is currently involved in significant litigation, with a case involving a contract dispute amounting to 15.2051 million yuan, which has been recognized as a liability[66]. - The company has been ordered to pay 200,000 yuan monthly until December 2018, totaling 2,338,535.01 yuan[68]. - The company has faced regulatory scrutiny, with its former chairman and other executives under investigation for alleged violations of the Securities Law[71]. Management and Personnel - The company optimized its management team by hiring a liquor expert from Sichuan to revitalize its main business[32]. - Several key management personnel, including the chairman and general manager, resigned due to personal reasons in April 2019[107]. - The company is planning to recruit additional personnel in key departments such as R&D, quality control, finance, and marketing to support its operational needs[159]. Product Development and Market Expansion - The company launched new products in the "Jiao Di Yuan Jiang" series, including Jiao Di Yuan Jiang 12 and 18, with alcohol content of 42° and 52° respectively[32]. - The company has plans for market expansion and new product development to enhance its competitive position in the industry[146]. - The company aims to leverage its brand recognition in Gansu and the Northwest region to strengthen its liquor business as a primary focus, with wine production as a secondary priority[158]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,275[99]. - The largest shareholder, Shanghai Houfeng Investment Co., Ltd., holds 19.60% of the shares, totaling 34,770,000 shares[99]. - The controlling shareholder changed to Gansu Shengda Group Co., Ltd. on April 12, 2019[101]. Environmental and Compliance Issues - The company has not been listed as a key pollutant discharge unit and has maintained stable operation of its wastewater treatment facilities since their inception[90]. - The company has no significant environmental protection issues and has not been penalized for violations of environmental protection laws[90]. Financial Reporting and Auditing - The half-year financial report has not been audited, indicating a need for further financial scrutiny[63]. - The company did not engage in any leasing, contracting, or custodial arrangements during the reporting period[82][83][84].

Financial Performance - The company's operating revenue for 2018 was ¥25,483,382.88, a decrease of 46.47% compared to ¥47,605,091.18 in 2017[20]. - The net profit attributable to shareholders for 2018 was -¥95,481,490.92, an improvement of 49.11% from -¥187,630,340.29 in 2017[20]. - The company reported a significant decline in revenue, with a peak revenue of ¥177,828,067.36 in 2016[20]. - The company reported a net loss attributable to shareholders of 95.48 million yuan in 2018, with a net asset value of -238.18 million yuan, indicating insolvency[33]. - The cumulative loss as of December 31, 2018, reached 727.52 million yuan, reflecting ongoing financial difficulties[33]. - The company experienced a 40.15% decline in sales volume, with total sales of 1,089.64 tons compared to 1,820.49 tons in 2017[43]. - The revenue from the food and beverage sector was ¥24,895,173.89, accounting for 97.69% of total revenue, down 47.42% from the previous year[40]. - The gross profit margin for the food and beverage sector was 22.35%, a decrease of 10.37% compared to the previous year[42]. - The company reported a significant reduction in asset impairment losses, which were ¥16,326,172.68, down 84.02% from ¥102,163,022.14 in 2017[37]. - The company reported a net profit attributable to shareholders of -95.48 million yuan for 2018, an improvement from -126.68 million yuan in 2016 and -187.63 million yuan in 2017[113]. Cash Flow and Liquidity - The operating cash flow for the year was -2.99 million yuan, a significant improvement of 88.49% compared to the previous year[25]. - The company's liquidity position is concerning, with current liabilities exceeding current assets by 32.11 million yuan, raising doubts about its ability to continue as a going concern[33]. - The cash flow from operating activities improved by 88.45%, with a net cash flow of -¥2,986,445.71 compared to -¥25,957,203.22 in 2017[37]. - The company’s investment activities generated a net cash flow of -¥12,429,408.95, a 98.66% increase in outflow compared to -¥6,256,574.68 in the previous year[37]. - The net cash flow from operating activities decreased significantly due to a substantial decline in revenue, with cash received from sales and services dropping[56]. - The net increase in cash and cash equivalents decreased, primarily due to reduced net cash flow from operating and investing activities[57]. - Cash and cash equivalents at the end of 2018 amounted to CNY 4,324,740.64, representing 1.89% of total assets, up from 0.70% in 2017[58]. - The company has a significant shortage of working capital, with current liabilities far exceeding current assets[102]. Shareholder and Management Changes - The controlling shareholder changed to Gansu Shengda Group Co., Ltd. on April 12, 2019, with Zhao Mantang as the new actual controller[7]. - The company experienced a leadership change with the resignation of key executives including the Chairman, General Manager, and CFO due to personal reasons in April 2019[173]. - The company is in the process of electing new non-independent directors to the board, with candidates nominated for the upcoming shareholders' meeting[171]. - The company reported a significant turnover in its management team, indicating potential shifts in strategic direction and operational focus[173]. - The company has been actively involved in the appointment of an interim secretary to ensure continuity in governance during the transition period[173]. Legal and Regulatory Issues - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[103]. - The company is facing legal challenges, including lawsuits from shareholders and suppliers[102]. - The company is actively seeking solutions to mitigate legal risks and improve its financial situation[83]. - The company has been involved in multiple legal disputes, including a securities fraud case, with ongoing appeals and potential financial implications[117]. - The company has received a total of 1,050.6 million yuan in payments as part of the settlement agreement[117]. Business Operations and Strategy - The company has not made any changes to its main business since its listing[19]. - The company aims to restore profitability in 2019 after facing significant operational challenges and potential delisting[72]. - The company plans to enhance its marketing strategy by utilizing social media platforms for product promotion and local market penetration[75]. - The company is exploring merger and acquisition opportunities to improve its operational status and enhance profitability[105]. - The company plans to improve its core business and profitability through structural adjustments and enhanced management practices[81]. Employee and Governance Structure - The company has over 200 employees, with a strong local workforce, and aims to boost employee morale through improved incentives and training[79]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to CNY 1.7768 million[183]. - The company has maintained effective communication with shareholders, ensuring equal rights and transparency in decision-making processes[191]. - The company has established a training program covering various topics, including quality management and safety protocols, with training sessions scheduled throughout the year[187]. - The company has a governance structure that includes a board of directors with three independent directors, ensuring compliance with relevant laws and regulations[191].

Financial Performance - The company's revenue for Q1 2019 was ¥7,082,300.27, a decrease of 7.73% compared to ¥7,675,862.10 in the same period last year[8] - The net profit attributable to shareholders was -¥6,471,157.91, showing an improvement of 50.53% from -¥13,081,950.95 year-on-year[8] - The net loss for Q1 2019 was CNY 6,476,872.84, an improvement from a net loss of CNY 13,081,950.95 in the same period last year[39] - The company's basic earnings per share improved by 42.86%, from -¥0.07 to -¥0.04[8] - Basic and diluted earnings per share were both reported at CNY -0.04, an improvement from CNY -0.07 in the previous year[40] - The total comprehensive income for the first quarter was -1,367,213.68 yuan, an improvement from -9,252,818.82 yuan year-over-year[44] Cash Flow and Liquidity - The net cash flow from operating activities was ¥396,845.33, a significant increase of 200.51% compared to -¥394,834.94 in the previous year[8] - Cash flow from operating activities generated a net cash inflow of 396,845.33 yuan, contrasting with a net outflow of -394,834.94 yuan in the same quarter last year, indicating a positive cash flow trend[46] - The cash and cash equivalents at the beginning of the period were 461,182.23 yuan, down from 1,772,437.33 yuan in the previous year, indicating a decrease in liquidity[48] - The ending balance of cash and cash equivalents was 3,890,908.66, reflecting an increase of 26,162.85 from the beginning balance[52] - The net increase in cash and cash equivalents for the first quarter was 3,884,125.53, a decrease of 38,035.72 compared to the previous period[52] Assets and Liabilities - The total assets at the end of the reporting period were ¥218,727,891.36, down 4.28% from ¥228,498,240.72 at the end of the previous year[8] - The company's current assets totaled CNY 70,679,270.99, down from CNY 77,480,020.59 at the end of 2018, indicating a decline of approximately 9.3%[29] - The company's total liabilities were CNY 462,390,867.68, slightly down from CNY 465,684,344.20, indicating a decrease of about 0.6%[30] - Total liabilities decreased to CNY 401,443,370.51 from CNY 407,367,087.73, a reduction of 1.96%[36] - The company's equity attributable to shareholders was reported at CNY -244,650,586.09, worsening from CNY -238,179,428.18 at the end of 2018[31] Operational Efficiency - The company reported a 35.17% reduction in management expenses, decreasing from ¥6,943,544.89 to ¥4,501,331.98, primarily due to a significant reduction in intermediary service fees[14] - Total operating costs decreased significantly to CNY 13,551,725.46 from CNY 20,759,097.33, reflecting a reduction of 34.73%[37] - The company received other cash related to operating activities amounting to 4,979,891.16 yuan, an increase from 2,096,803.55 yuan year-over-year, suggesting improved operational efficiency[46] Shareholder and Corporate Governance - The company’s major shareholder, Shanghai Houfeng Investment Co., Ltd., has all of its 34,770,000 shares pledged and frozen[15] - The actual controller of the company changed to Zhao Mantang, with the new controlling shareholder being Gansu Shengda Group Co., Ltd., which holds 19.89% of the total shares[15] - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[15] - The company is currently under investigation for economic crimes related to internal personnel, which may impact future operations[17] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[23][24] Miscellaneous - The company has no securities or derivative investments during the reporting period[19][20] - The first quarter report was not audited[54] - The company has not disclosed any new product developments or market expansion strategies in the current report[39]

Financial Performance - The company's operating revenue for 2018 was ¥25,483,382.88, a decrease of 46.47% compared to ¥47,605,091.18 in 2017[19] - The net profit attributable to shareholders for 2018 was -¥95,481,490.92, an improvement of 49.11% from -¥187,630,340.29 in 2017[19] - The company reported a significant decline in revenue compared to previous years, with 2016 revenue at ¥177,828,067.36[19] - The company reported a net loss attributable to shareholders of 95.48 million yuan in 2018, with a cumulative loss of 727.52 million yuan as of December 31, 2018[32] - The net assets attributable to shareholders were negative 238.18 million yuan, indicating insolvency and a significant decline of 66.91% compared to the previous year[25] - The company's operating cash flow was negative 2.99 million yuan, a decrease of 88.49% from the previous year[24] - The basic and diluted earnings per share were both negative 0.54 yuan, an improvement of 49.06% compared to the previous year[24] - Total assets decreased by 9.40% to 228.50 million yuan from 252.21 million yuan in 2017[25] - The company faced severe liquidity issues, with current liabilities significantly exceeding current assets by 32.11 million yuan[32] - The company reported a significant decline in sales, attributed to market downturns and internal structural adjustments[32] Shareholder and Management Changes - On April 12, 2019, the controlling shareholder changed to Gansu Shengda Group Co., Ltd., with Zhao Mantang as the new actual controller[6] - The company underwent a change in controlling shareholder, with Gansu Shengda Group becoming the new controlling entity in April 2019[34] - The company has a workforce of over 200 employees, with a strong local presence, and is committed to enhancing employee engagement and corporate culture[77] - The actual controller of the company changed on April 12, 2019, with Gansu Shengda Group holding 5.99% of the total shares and controlling 19.90% of the total share capital[140] Legal and Compliance Issues - The company acknowledges the risk of potential stock suspension and urges investors to be cautious[5] - The company is currently facing risks related to potential delisting and has been in discussions about its stock trading status[79] - The company has been under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[95] - The company is involved in litigation with Wuxi Meilin Color Printing Packaging Factory, with a disputed amount of 15,205.1 million yuan, which has been recognized as a contingent liability[107] - The company has faced a total of 1,597.7 million yuan in claims related to a loan dispute with Lanzhou Bank, which may impact net profit due to accrued interest and litigation costs[108] - The company is currently facing multiple legal disputes, which may impact its financial performance and market reputation[112] Operational Strategies and Future Plans - The company aims to restore profitability in 2019, focusing on its core liquor business and leveraging its brand recognition in Gansu and Northwest China[69] - A new management team will be established, including experienced executives from listed companies and industry experts, to revitalize the company's operations[72] - The company plans to enhance its marketing strategy by engaging professional advertising firms and utilizing social media platforms for product promotion[73] - The company plans to actively seek new financing channels to optimize its debt structure and improve its operational status[96] - The company is pursuing mergers and acquisitions to enhance its sustainable profitability and risk resistance capabilities[96] Environmental and Social Responsibility - The company has established emergency response plans for environmental incidents and has been compliant with environmental protection laws and regulations[139] - The company has successfully operated its wastewater treatment facilities since 2011, achieving stable and compliant discharge[138] - The company has not been classified as a key pollutant discharge unit by environmental protection authorities[137] - The company has consistently met the first-level discharge standards for wastewater since its operation began, with key monitored parameters such as COD, BOD, and ammonia nitrogen all compliant with the GB8978-1996 standards[138] Internal Control and Governance - The company has established a sound internal control management system to enhance operational standards[183] - The internal control evaluation report indicates that the company has no significant defects in financial reporting or non-financial reporting during the reporting period[197] - The internal control audit report confirms that the company maintains effective internal controls over financial reporting in all material respects[199] - The company has implemented a robust information disclosure system, ensuring timely and accurate communication with investors[184] - The board of directors includes three independent directors, constituting one-third of the total board[183] Financial Challenges and Debt Management - The company faces significant challenges with negative cash flow from operations and high levels of current liabilities compared to current assets[76] - The company had overdue bank loans amounting to CNY 149.4556 million, indicating severe debt repayment challenges[94] - The total guarantee amount for the company and its subsidiaries is 11,062.56 million, which accounts for -46.45% of the company's net assets[130] - The company is actively seeking to raise funds to fulfill its payment obligations related to ongoing litigation[108] Revenue and Sales Performance - The company reported a significant increase in sales, achieving over 50 million in revenue for the year, marking a 20% growth compared to the previous year[170] - User data indicates a steady increase in customer engagement, with a 15% rise in active users year-over-year[170] - The company has set a future outlook with a revenue target of 60 million for the next fiscal year, representing a 20% growth forecast[170]

Financial Performance - Operating revenue for the current period was CNY 1,274,842.77, a decline of 49.59% year-on-year, and a significant drop of 76.61% compared to the year-to-date figure[9] - Net profit attributable to shareholders was CNY -12,022,040.90, an increase of 5.92% compared to the same period last year[9] - The total profit for the third quarter of 2018 was -41,908,383.60 CNY, a 34.67% improvement compared to -64,151,882.75 CNY in the same period last year[18] - The net profit for the third quarter of 2018 was -41,908,383.60 CNY, showing a 37.82% improvement from -67,403,550.58 CNY year-over-year[18] - The net loss for the period was CNY 12,022,040.90, compared to a net loss of CNY 12,778,190.96 in the previous year, indicating a slight improvement[43] - The net profit for the current period was a loss of CNY 41,908,383.60, compared to a loss of CNY 67,403,550.58 in the previous period, representing an improvement of 37.9%[52] - The total comprehensive income for the current period was a loss of CNY 41,908,383.60, compared to a loss of CNY 67,403,550.58 in the previous period[52] Assets and Liabilities - Total assets decreased by 6.77% to CNY 235,136,124.01 compared to the end of the previous year[9] - The company's total assets as of September 30, 2018, were 235,136,124.01 CNY, down from 252,214,593.48 CNY at the beginning of the period[36] - The total liabilities amounted to CNY 419,742,444.87, an increase from CNY 394,912,530.74 year-over-year[39] - The company's total equity attributable to shareholders was negative CNY 184,606,320.86, worsening from negative CNY 142,697,937.26[39] - The company's current liabilities included short-term loans of 157,725,625.94 CNY, slightly down from 158,155,625.94 CNY at the start of the period[36] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -310,081.41, a decrease of 98.64% year-on-year[9] - The net cash flow from operating activities decreased by 98.64%, amounting to -310,081.41 CNY compared to -22,882,790.22 CNY in the previous period[20] - The net cash flow from investing activities decreased by 99.95%, totaling -2,150.00 CNY, indicating minimal cash inflow from significant investment activities[20] - The net cash flow from financing activities decreased by 109.54%, resulting in -1,008,046.54 CNY, reflecting a reduction in cash inflow from financing activities[20] - The cash flow from operating activities showed a net outflow of -310,081.41 CNY, an improvement from -22,882,790.22 CNY in the same quarter last year[58] - The cash flow from investing activities resulted in a net outflow of -2,150.00 CNY, compared to -4,565,210.10 CNY in the same period last year[59] - The cash flow from financing activities showed a net outflow of -1,008,046.54 CNY, a significant decrease from a net inflow of 10,571,942.50 CNY in the previous year[59] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 10,240[12] - The top shareholder, Shanghai Houfeng Investment Co., Ltd., holds 19.60% of the shares, amounting to 34,770,000 shares, which are pledged[12] Expenses - Sales expenses decreased by 77.78% to CNY 2,901,908.32 due to reduced salaries and promotional expenses[17] - Financial expenses increased by 54.22% to CNY 12,045,504.70 primarily due to increased interest expenses[17] - The total operating costs increased to CNY 13,326,103.58, up from CNY 12,967,768.21, reflecting a rise in operating costs[41] - The company's financial expenses increased to CNY 12,045,504.70 from CNY 7,810,410.93, marking a rise of 54.5%[51] - Sales expenses for the current period were CNY 2,901,908.32, down from CNY 13,058,318.08, a decrease of 77.7%[50] - Management expenses decreased to CNY 16,223,520.41 from CNY 24,347,712.61, a reduction of 33.4%[50] Legal and Regulatory Issues - The company has been under a *ST risk warning since May 3, 2018, due to consecutive years of negative audited net profits[22] - There are ongoing legal issues with 42 individual investors filing lawsuits against the company for "false statements," which may impact future operations[21] Inventory and Cash Management - The inventory decreased to 79,437,615.00 CNY from 85,544,447.33 CNY, indicating a reduction in stock levels[35] - The inventory level decreased to CNY 65,437,883.56 from CNY 78,534,928.61, suggesting a reduction in stock[38] - The company's cash and cash equivalents dropped significantly to CNY 7,910.92 from CNY 64,198.57, indicating liquidity challenges[38] - The total cash and cash equivalents at the end of the period were 452,159.38 CNY, down from 2,277,439.08 CNY year-over-year[59] - The total cash and cash equivalents at the end of the period was 7,910.92 CNY[63] - The cash and cash equivalents decreased by 56,287.65 CNY during the period[63] - The initial cash and cash equivalents balance was 64,198.57 CNY[63] Miscellaneous - Basic earnings per share remained at CNY -0.07, unchanged from the previous period[9] - Basic and diluted earnings per share for the current period were both -0.24, compared to -0.38 in the previous period[52] - The company reported a significant increase in sales expenses to CNY 673,692.24 from CNY 4,177,524.81, reflecting changes in marketing strategies[41] - The company incurred tax expenses of CNY 3,251,667.83 in the previous period, which were not reported for the current period[51] - The company reported an asset impairment loss of 53,530.42 CNY, a significant decrease from 2,541,268.59 CNY in the previous year[54] - The company received other operating cash inflows of 14,093,401.12 CNY, compared to 6,552,169.84 CNY in the previous year, indicating a growth of approximately 114.4%[58] - The company incurred financial expenses of 4,353,782.16 CNY, a decrease from 6,464,846.99 CNY in the previous year[54] - The financing activities cash outflow totaled 1,000,000.00 CNY[63] - The company's third-quarter report was not audited[64]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥8,229,129.55, a decrease of 78.41% compared to ¥38,106,783.33 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥29,886,342.70, an improvement of 45.29% from a loss of ¥54,625,359.62 in the previous year[17]. - The basic earnings per share for the reporting period were -¥0.17, an improvement of 45.16% from -¥0.31 in the previous year[17]. - The company reported a total comprehensive loss of -17,686,909.14 yuan, compared to -32,235,115.76 yuan in the previous period, showing a decrease in losses[146]. - The company reported a net loss of CNY 187.63 million in 2017, with total bank loans overdue amounting to CNY 59.46 million, indicating significant financial distress[70]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, with a net outflow of ¥594,106.06 compared to a net outflow of ¥17,761,385.85 in the same period last year, representing a 96.66% improvement[17]. - The company's cash and cash equivalents decreased significantly from RMB 1,772,450.19 to RMB 804,987.17, a decline of about 54.5%[129]. - The company reported a cash flow deficit of -35,632.20 yuan from its parent company operations, compared to -18,854,504.12 yuan in the previous period[151]. - The net increase in cash and cash equivalents was -977,898.10 yuan, reflecting ongoing liquidity challenges[149]. Assets and Liabilities - The total assets at the end of the reporting period were ¥237,563,017.80, down 5.81% from ¥252,214,593.48 at the end of the previous year[17]. - The total liabilities increased to RMB 410,147,297.76 from RMB 394,912,530.74, representing an increase of approximately 3.06%[131]. - The total equity attributable to shareholders was negative at ¥-172,584,279.96, a decrease of 20.94% from ¥-142,697,937.26 at the end of the previous year[17]. - The company's total equity attributable to owners of the parent company was CNY -121,248,423.99, worsening from CNY -103,561,514.85 in the previous year[136]. Operational Changes and Strategies - The main business remains the production and sales of liquor and wine, with no changes in the business model[25]. - The company aims to achieve a "double guarantee" of positive net profit and positive net assets to mitigate delisting risks[30]. - New product development accelerated, with the completion of designs for "Huangtai Cultural Wine" and mid-to-high-end white and red wines, preparing for sales in the second half of the year[30]. - The company is pursuing a strategic partnership with Gaocheng Group to promote high-end products and enhance brand activation, aiming for a positive sales cycle[54]. Legal and Compliance Issues - The company has ongoing legal issues related to the Wuxi Meilin case, with a provision for expected liabilities of CNY 10,125,154.50 already recognized[45]. - The company is facing a risk of delisting due to negative net profit and net assets, with specific measures proposed to revoke the delisting warning[52]. - The company has faced multiple shareholder lawsuits, with provisions totaling 23,107,810.72 yuan already recognized for the first batch of cases[58]. - The company is actively seeking to suspend civil cases related to criminal cases until the criminal cases are concluded to avoid further economic losses[45]. Environmental and Social Responsibility - The company invested 6.25 million RMB to build a wastewater treatment plant with a capacity of 600 tons per day[100]. - The company has consistently met the discharge standards for wastewater since the operation of its treatment facilities[100]. - The company has not experienced any major environmental accidents since its establishment[103]. - The company is actively pursuing strategic cooperation and major asset restructuring to ensure the implementation of its poverty alleviation efforts[105]. Management and Governance - The company has committed to enhancing internal controls and governance to address past deficiencies and improve operational efficiency[73]. - The company appointed a new deputy general manager on May 29, 2018, to enhance marketing efforts and improve product sales and profitability[122]. - The financial report was approved by the board on August 27, 2018, ensuring compliance with regulatory requirements[168]. - The company has engaged in training programs for its board and staff to strengthen compliance and operational capabilities[74].

甘肃皇台酒业股份有限公司 2018 年第一季度报告正文 甘肃皇台酒业股份有限公司 2018 年第一季度报告正文 公司是否需追溯调整或重述以前年度会计数据 1 甘肃皇台酒业股份有限公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人胡振平、主管会计工作负责人何维角及会计机构负责人(会计主 管人员)何维角声明：保证季度报告中财务报表的真实、准确、完整。 2 甘肃皇台酒业股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 7,675,862.10 | 9,788,966.37 | -21.59% | | 归属于上市公司股东的净利润（元） | -13,081,950.95 | -13,398,708.24 | 2. ...

Financial Performance - Operating revenue for the reporting period was CNY 2,528,948.40, down 97.04% compared to the same period last year[8]. - Net profit attributable to shareholders of the listed company was CNY -12,778,190.96, representing an 85.72% decrease year-on-year[8]. - Basic earnings per share were CNY -0.07, down 86.00% compared to the same period last year[8]. - The net profit for the period was -¥67,403,550.58, a decrease of 37.74% compared to -¥108,258,350.42, attributed to increased provisions for liabilities and poor sales performance in the liquor segment[16]. - Total operating revenue fell by 72.65% to ¥40,635,731.73 from ¥148,575,195.93, with an adjusted revenue change rate of -14.32% after excluding Xinjiang Angrui's sales[16]. - Total operating costs decreased by 54.96% to ¥82,110,995.45 from ¥182,318,956.76, with an adjusted cost change rate of 0.5%[16]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 368,151,757.20, a decrease of 6.20% compared to the end of the previous year[8]. - The company’s total assets decreased significantly, leading to a negative equity of -¥22,471,147.55, a decline of 150.01% from ¥44,932,403.03[15]. - Net assets attributable to shareholders of the listed company were CNY -22,471,147.55, a decline of 150.01% year-on-year[8]. - The company reported a significant increase in expected liabilities by 142.14% to ¥39,313,561.72 from ¥16,235,791.50, mainly due to provisions for shareholder litigation losses[15]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY -22,882,790.22, a decrease of 56.05% compared to the previous year[8]. - The company's cash and cash equivalents decreased by 88.11% to ¥2,277,439.08 from ¥19,153,496.90, primarily due to the disposal of its subsidiary Xinjiang Angrui and a reduction in revenue from adjustments in sales channels and product structure[15]. - Accounts receivable dropped by 88.87% to ¥624,508.36 from ¥5,613,520.17, mainly due to the disposal of accounts receivable from Xinjiang Angrui[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,727[11]. - The top shareholder, Shanghai Houfeng Investment Co., Ltd., held 19.60% of the shares, amounting to 34,770,000 shares, which are pledged[11]. Corporate Governance and Legal Matters - The company received a court ruling requiring it to pay a total of ¥23,107,810.72 to 10 individual investors due to a securities false statement liability dispute[18]. - No overdue commitments from actual controllers, shareholders, related parties, acquirers, or other related parties during the reporting period[21]. - No significant changes or warnings regarding the expected cumulative net profit from the beginning of the year to the next reporting period[22]. - No securities investment during the reporting period[22]. - No derivative investments during the reporting period[23]. - No violations of external guarantees during the reporting period[25]. - No non-operating fund occupation by controlling shareholders and their related parties during the reporting period[26]. - No precision poverty alleviation work conducted in the third quarter, nor any subsequent plans[27]. Future Outlook - The company plans to improve its operational and financial conditions in the second half of the year to avoid being classified as a *ST company due to negative net assets or net profit[18]. - The company is undergoing a major asset restructuring process, with its stock suspended from trading since July 24, 2017, and will continue to be suspended until further notice[19].

Financial Performance - The company's operating revenue for the first half of 2017 was ¥38,106,783.33, a decrease of 39.62% compared to ¥63,108,632.41 in the same period last year[17]. - The net profit attributable to shareholders was -¥54,625,359.62, representing a 190.97% increase in losses compared to -¥18,773,670.08 in the previous year[17]. - The net cash flow from operating activities was -¥17,761,385.85, which improved by 59.32% from -¥43,663,014.65 in the same period last year[17]. - The total assets at the end of the reporting period were ¥359,835,346.29, down 8.32% from ¥392,495,322.85 at the end of the previous year[17]. - The net assets attributable to shareholders were -¥9,692,956.59, a decrease of 121.57% from ¥44,932,403.03 at the end of the previous year[17]. - The basic earnings per share were -¥0.31, reflecting an increase in losses of 181.82% compared to -¥0.11 in the previous year[17]. - The weighted average return on net assets was -310.02%, a significant decline from -16.46% in the previous year[17]. - The company reported a loss of 54.63 million yuan in the first half of 2017, with a net asset value of -9.69 million yuan, indicating weak debt repayment capability[30]. - Revenue decreased by 39.62% year-on-year to 38.11 million yuan, primarily due to low-price promotions aimed at maintaining market share[33]. - Operating costs fell by 49.50% to 24.76 million yuan, but when excluding the impact of previous year's tomato sauce sales, the year-on-year increase was 154.46%[34]. - Sales expenses decreased by 30.36% to 8.88 million yuan, but increased by 31.87% when adjusted for the previous year's tomato sauce sales[34]. - Management expenses surged by 90.64% to 19.32 million yuan due to significant legal and intermediary service fees incurred from ongoing lawsuits[34]. - The company reported a significant increase in inventory, with a total of 163.38 million yuan, representing a 4.99% increase in proportion to total assets[40]. - The overall financial performance indicates a challenging environment, with multiple subsidiaries reporting substantial losses and declining revenues[50]. Business Strategy and Operations - The company continues to focus on the production and sales of white wine and grape wine, maintaining its business model of procurement, production, and sales[25]. - The company has divested from its tomato business, completing the transfer of equity in its wholly-owned subsidiary Xinjiang Angrui Tomato Industry Investment Co., Ltd.[26]. - The company plans to sell its severely loss-making liquor business assets to its major shareholder, Shanghai Houfeng Investment Co., Ltd., as part of a major asset restructuring[31]. - The company is also exploring investments in the "Internet + early childhood education" sector to improve its sustainable operating capabilities[31]. - The company aims to enhance its marketing strategy by focusing on large product sales and improving terminal construction to drive product sales[30]. - The company plans to focus on optimizing its core liquor business and enhancing asset operation efficiency for long-term development[46]. - The company has divested from its tomato sauce business to mitigate losses, which is not expected to impact its main business operations[49]. - The company plans to implement a major asset restructuring, including selling its loss-making liquor business assets to a major shareholder for cultivation and potential reintegration later[53]. - The company has raised prices on previously loss-making products to improve financial performance and has organized production of liquor and wine to stabilize the workforce and meet market demand[53]. - The company aims to improve its financial environment through major asset restructuring and better credit management[55]. - The company is committed to enhancing its marketing strategies, including developing group buying and e-commerce channels to improve sales performance[64]. Legal and Compliance Issues - The company faced significant operational risks due to intense market competition, management changes, and increased difficulty in sales, leading to a sharp decline in sales scale[52]. - The company has incurred a total loss of 23,107,810.72 yuan due to a shareholder compensation lawsuit, impacting its current financial results[55]. - The company is actively negotiating with creditors and the court to resolve outstanding debts and litigation issues[55]. - The company reported a total litigation amount of 841.03 million yuan, with no expected liabilities arising from the case, and the company won the lawsuit[68]. - Another litigation case involved an amount of 1,116.6 million yuan, which also resulted in a favorable judgment for the company[68]. - A third litigation case had a claim amount of 298.7 million yuan, with the company prevailing in the court ruling[69]. - The company faced a lawsuit with a claim amount of 1,200 million yuan, which concluded with a victory for the company[69]. - The company incurred litigation costs of 138,686 yuan for the first instance and 93,800 yuan for the second instance in one of the cases[69]. - The company reported a total of 22,933,918.72 CNY in compensation for losses in a legal dispute, with a total case acceptance fee of 173,892 CNY[71]. - The company has no penalties or rectification situations during the reporting period[72]. Shareholder and Equity Information - The company will not distribute cash dividends or issue new shares from capital reserves for the half-year period[60]. - The total number of common shareholders at the end of the reporting period is 9,801[95]. - The largest shareholder, Shanghai Houfeng Investment Co., Ltd., holds 19.60% of shares, totaling 34,770,000 shares, which are pledged[95]. - Beijing Huangtai Trading Co., Ltd. holds 13.90% of shares, totaling 24,667,908 shares, which are frozen[95]. - The top ten shareholders do not have any known relationships or agreements among them[96]. - There were no changes in the controlling shareholder or actual controller during the reporting period[97]. - There were no preferred shares issued during the reporting period[100]. - The company did not engage in any repurchase transactions during the reporting period[96]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[102]. - Several directors and supervisors resigned during the reporting period due to personal reasons or term expiration[103]. Financial Reporting and Accounting Practices - The company adheres to the accounting standards set by the Chinese Accounting Standards and ensures that its financial statements reflect a true and complete picture of its financial status[153]. - The company operates on a calendar year basis, with its accounting period running from January 1 to December 31[154]. - The company’s business cycle is defined as 12 months, which serves as the standard for classifying asset and liability liquidity[155]. - The company uses Renminbi as its functional currency for accounting purposes[156]. - The company’s financial statements are prepared based on the principle of control, including all subsidiaries where it holds more than 50% of voting rights or has substantial control[160]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[159]. - The company will not adjust the beginning balances of consolidated financial statements when disposing of subsidiaries or businesses, but will include their income and cash flows up to the disposal date in the consolidated financial statements[165]. - The company reported a significant increase in net assets, with a focus on the impact of equity investment disposals on financial statements[167]. - The cash and cash equivalents are defined as cash on hand and bank deposits readily available for payment, ensuring liquidity[170]. - Foreign currency transactions are recorded at the spot exchange rate on the transaction date, affecting the financial results[171]. - The company has established a clear classification for financial instruments, categorizing them based on investment purpose and economic substance[176]. - Financial assets measured at fair value with changes recognized in profit or loss are primarily held for short-term trading purposes[177]. - The company has a strategy for managing investments, including holding to maturity investments that are fixed in terms of maturity and recovery amounts[179]. - The company adjusts its capital reserves based on the difference between the disposal price and the net asset share of subsidiaries during partial disposals[169]. - The company recognizes foreign exchange differences in profit or loss, except for those related to capitalized assets[173]. - The company’s financial reporting includes a detailed approach to the recognition and measurement of receivables and other financial assets[181]. Inventory and Asset Management - The company adopts a perpetual inventory system, conducting a comprehensive inventory check at year-end to reconcile discrepancies with recorded amounts[196]. - Inventory write-downs are based on the lower of cost or net realizable value, with specific provisions for high-value items and categories of low-value items[199]. - The company employs a "50/50 amortization method" for low-value consumables[200].

甘肃皇台酒业股份有限公司 2017 年第一季度报告正文 证券代码：000995 证券简称：*ST 皇台 公告编号：2017-34 甘肃皇台酒业股份有限公司 2017 年第一季度报告正文 1 甘肃皇台酒业股份有限公司 2017 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及除冯瑛先生外的其他董事、监事、高级管理人员保 证季度报告内容的真实、准确、完整，不存在虚假记载、误导性陈述或者重大 遗漏，并承担个别和连带的法律责任。 董事冯瑛先生无法保证本报告的真实性、准确性和完整性，理由是未参与 公司生产经营，请投资者特别关注。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人胡振平、主管会计工作负责人何维角及会计机构负责人(会计主 管人员)何维角声明：保证季度报告中财务报表的真实、准确、完整。 2 甘肃皇台酒业股份有限公司 2017 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- ...