Financial Performance - The company's operating revenue for the first half of 2021 was CNY 36,097,231,008, representing a 25.62% increase compared to CNY 28,735,611,779 in the same period last year[26]. - Net profit attributable to shareholders for the first half of 2021 reached CNY 257,288,659, a significant increase of 323.91% from CNY 60,694,103 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was CNY 255,901,487, compared to a loss of CNY 105,973,940 in the same period last year, marking a 341.48% improvement[26]. - The net cash flow from operating activities was CNY 1,427,642,640, an increase of 807.85% from CNY 157,254,542 in the previous year[26]. - Basic and diluted earnings per share for the first half of 2021 were both CNY 0.12, a 300% increase from CNY 0.03 in the same period last year[26]. - The weighted average return on equity was 4.21%, up from 1.02% in the previous year, reflecting a 3.19% increase[26]. - Total assets at the end of the reporting period were CNY 41,486,544,716, a decrease of 1.99% from CNY 42,328,425,595 at the end of the previous year[26]. - Net assets attributable to shareholders increased to CNY 6,162,363,358, a 3.16% increase from CNY 5,973,449,389 at the end of the previous year[26]. - The total profit for the period was 2.64 billion CNY, an increase of 711.22% compared to the same period last year[51]. - The net profit attributable to the parent company reached 2.57 billion CNY, up 323.91% year-on-year[51]. Revenue Breakdown - The company achieved total revenue of 36.13 billion CNY in the first half of 2021, representing a year-on-year growth of 25.44%[51]. - The brand operation segment generated revenue of 1.63 billion CNY, with a year-on-year growth of 192.09% and a gross profit of 292 million CNY, increasing by 213.03%[53]. - The wine brand operation business achieved revenue of 555 million CNY, a significant increase of 300.17% compared to the previous year[53]. - The IT and communication sector reported revenue of 516.58 million CNY, a year-on-year increase of 56.42%[54]. - The textile and apparel sector saw revenue of 225.83 million CNY, reflecting a growth of 158.46% year-on-year[54]. - The total revenue for the distribution and marketing segment reached RMB 34.063 billion, representing a year-on-year growth of 21.95%[55]. - Revenue distribution across various industries includes IT and communication at RMB 6.624 billion (up 95.46%), home appliances at RMB 7.614 billion (up 6.67%), and industrial raw materials at RMB 3.086 billion (up 133.16%)[55]. Strategic Initiatives - The company aims to build the largest B2B2C integrated distribution platform and brand incubation platform in China, leveraging the growing domestic consumption market[51]. - The company has established a global service network, enhancing its ability to meet the needs of partners in a globalized market[45]. - The company is focusing on digital transformation and the development of new apps to enhance brand operation and resource sharing for small and medium enterprises[65]. - The company plans to incubate several proprietary brands in the beverage, home appliance, and daily chemical sectors in the second half of the year[61]. - The company is actively optimizing its financing structure through private placements and shutting down less profitable operations to enhance overall profitability[71]. - The company is focusing on expanding its logistics and supply chain management services, which are expected to drive future growth[82]. - The company plans to continue investing in new product development and technology to drive future growth and improve operational efficiency[91]. Risk Management - The company has outlined potential risk factors and countermeasures in its management discussion and analysis section[7]. - Financial risks are present due to high accounts receivable and inventory costs, leading to a high asset-liability ratio; the company plans to enhance cash collection efforts and implement strict fund management[103]. - The company is exposed to foreign exchange risks due to significant foreign currency transactions and plans to use forward foreign exchange contracts to mitigate these risks[103]. - The company has established a comprehensive management system and is focusing on compliance management and internal control to mitigate management risks[100]. Social Responsibility and Community Engagement - The company is committed to fulfilling its social responsibilities and has implemented various management systems to ensure accurate and timely information disclosure[115]. - The company has actively engaged in social responsibility initiatives, providing approximately 150,000 RMB annually to support the Chang'an Hope Primary School in Guangdong[127]. - In the first half of 2021, the company contributed over 70,000 RMB towards the salaries and social security of teachers at the Chang'an Hope Primary School[129]. - The company has conducted investor engagement activities, including an investor open day, to strengthen communication and showcase its supply chain service model[115]. Legal and Compliance Issues - The company reported a total of 1,215,000 CNY involved in a shareholder capital contribution dispute, with the case already adjudicated and awaiting execution[139]. - A contract dispute involving 968,170 CNY is currently under forced execution, with no significant impact reported[139]. - The company is involved in a sales contract dispute amounting to 3,182,610 CNY, which is pending a second-instance judgment[139]. - A total of 3,280,040 CNY is involved in another contract dispute, which is also under forced execution[139]. - The company has a pending second-instance hearing for a sales contract dispute with an amount of 2,134,260 CNY[142]. - A contract dispute with a total of 2,660,890 CNY is currently awaiting judgment after a hearing[142]. - The company is engaged in a contract dispute involving 2,018,680 CNY, which has been reported for debt claims[145]. - A total of 6,901,540 CNY is involved in a contract dispute that is currently in the first-instance stage[148]. - The company has reported no significant impact from ongoing litigation and disputes[169].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 18,675,649,050, representing a 35.41% increase compared to CNY 13,791,681,715 in the same period last year[7]. - Net profit attributable to shareholders was CNY 102,644,676, a significant increase of 341.17% from CNY 23,266,567 in the previous year[7]. - The net cash flow from operating activities reached CNY 739,735,830, marking a 469.90% increase from CNY 129,800,418 in the same period last year[7]. - Basic and diluted earnings per share were both CNY 0.05, up 400% from CNY 0.01 in the previous year[7]. - The weighted average return on equity was 1.70%, an increase of 1.31% compared to 0.39% in the same period last year[7]. - The company reported a total comprehensive income for the quarter of CNY 96,284,499, compared to CNY 60,127,364 in the previous year, indicating overall growth in financial performance[68]. - The net profit for Q1 2021 was CNY 55,917,533, a significant increase from CNY 2,077,879 in Q1 2020, representing a growth of approximately 2,590%[72]. - Operating profit reached CNY 63,239,669, compared to CNY 3,350,568 in the same period last year, indicating a growth of about 1,788%[72]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 41,761,350,551, a decrease of 1.34% from CNY 42,328,425,595 at the end of the previous year[7]. - Total liabilities decreased from ¥34,104,876,720.00 to ¥33,603,066,468.00, a decline of approximately 1.47%[49]. - Total non-current assets decreased from ¥9,272,494,885.00 to ¥9,223,382,030.00, a decline of approximately 0.53%[46]. - The total liabilities increased to CNY 24,782,797,602 from CNY 24,514,278,817, reflecting a growth in financial obligations[64]. - The company's total equity rose to CNY 4,576,281,646, compared to CNY 4,520,235,215 in the previous year, showing a positive trend in shareholder equity[64]. Cash Flow - The net cash flow from operating activities was CNY 739,735,830, a substantial rise from CNY 129,800,418 in Q1 2020[79]. - Cash flow from financing activities showed a net outflow of CNY -1,267,525,250, compared to a net inflow of CNY 1,196,049,934 in the same quarter last year[82]. - The cash inflow from operating activities totaled CNY 25,909,043,476, compared to CNY 18,520,752,516 in the previous year, indicating a growth of approximately 40%[79]. - The net cash flow from investing activities was ¥641,488,215.00, up from ¥507,775,890.00, marking an increase of around 26%[88]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 91,841, with the largest shareholder holding 18.30% of the shares[11]. - Net assets attributable to shareholders increased to CNY 6,078,470,862, reflecting a 1.76% increase from CNY 5,973,449,389 at the end of the previous year[7]. Expenses and Investments - Sales expenses surged by 251.40% to CNY 317,976,106, driven by increased brand operation and marketing costs[25]. - Research and development expenses for the quarter were CNY 2,415,123, up from CNY 1,988,861, indicating an increase in investment in innovation[61]. - The company reported a significant decrease in investment income, down 71.18% to CNY 41,886,655, due to the disposal of equity in a subsidiary in the previous year[25]. Risk Management - The company faced foreign exchange risks in its supply chain management business, utilizing derivative financial instruments to manage these risks[10]. Other Information - The company implemented new leasing standards, resulting in the recognition of right-of-use assets and lease liabilities totaling CNY 289,690,557[25]. - The first quarter report was not audited[102].

Revenue and Profit Performance - In 2020, the company achieved a revenue of over 30 billion CNY in the consumer sector, ranking among the top in the national market[10]. - The daily chemical products segment generated a revenue of 7 billion CNY, with leading brands including L'Oréal, Procter & Gamble, and Yunnan Baiyao[10]. - The mother and baby products segment reported a revenue of 6.5 billion CNY, featuring top products from Meisu, Feihe, and Mead Johnson[10]. - The food and beverage segment reached a revenue of 5 billion CNY, with major brands like Yihai Kerry, Mengniu, and Yili[10]. - The liquor segment achieved a revenue of 4.5 billion CNY, with top brands including Moutai, Diaoyutai, and Guotai[10]. - The small home appliances segment generated a revenue of 8 billion CNY, with leading brands such as Philips, Midea, and Supor[10]. - The company's operating revenue for 2020 was ¥68,120,326,033, a decrease of 5.17% compared to ¥71,833,668,500 in 2019[38]. - The net profit attributable to shareholders for 2020 was ¥123,440,187, representing a 36.94% increase from ¥90,141,722 in 2019[38]. - The net cash flow from operating activities was ¥2,097,739,784, down 19.75% from ¥2,613,956,558 in the previous year[38]. - Basic earnings per share for 2020 were ¥0.06, a 50% increase from ¥0.04 in 2019[38]. - The total assets at the end of 2020 were ¥42,328,425,595, a slight increase of 1.02% from ¥41,901,282,105 at the end of 2019[41]. - The weighted average return on net assets was 2.07% at the end of 2020, up from 1.53% at the end of 2019[41]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥118,318,749, an improvement from -¥159,493,734 in 2019[38]. - Total revenue for the fourth quarter reached CNY 24.56 billion, marking a significant increase compared to previous quarters[44]. - Net profit attributable to shareholders for the fourth quarter was CNY 42.14 million, showing a recovery from earlier losses[44]. - The net cash flow from operating activities in the fourth quarter was CNY 1.09 billion, indicating strong cash generation capabilities[44]. - Non-recurring losses for the year totaled CNY 241.76 million, slightly down from CNY 249.64 million in the previous year[49]. Strategic Initiatives and Future Plans - The company plans to deepen cooperation with several liquor companies in Guizhou Moutai Town to establish a joint brand operation company in 2021[11]. - The company has laid out a strategy focusing on the livelihood industry, integrating supply chain services to strengthen local industries[14]. - The company aims to build a robust platform ecosystem to adapt to changing market demands and technological advancements[5]. - The company is focusing on brand operation and management, particularly in the high-end liquor sector, to enhance brand value[56]. - The company is investing in new projects, including the construction of its headquarters in Qianhai, with an increase in construction in progress by CNY 117 million[59]. - The company plans to expand its market presence through strategic acquisitions and new product developments in the supply chain management sector[106]. - The company aims to build a large consumer ecosystem platform, leveraging data to drive C2M brand innovation[124]. - The company plans to continue deepening its focus on the consumer sector and building a smart supply chain platform, aiming for a unified system across all operational modules within 2-3 years[127]. - The company will enhance its own brand operations, replicating successful models from the liquor industry to other categories such as daily chemicals and home appliances[127]. Subsidiary Performance - Shenzhen Yiatong Supply Chain Co., Ltd. reported a net profit of RMB 8,051,993 from its subsidiary Shenzhen Yushang Microloan Co., Ltd., contributing over 10% to the company's net profit[104]. - Shanghai Yiatong Supply Chain Co., Ltd. generated operating revenue of RMB 2,750,978,835 with a net profit of RMB 45,031,294, indicating strong performance in logistics and supply chain management[104]. - The subsidiary Shenzhen Yiatong Deep Supply Chain Management Co., Ltd. achieved operating revenue of RMB 1,214,088,641 and a net profit of RMB 7,578,778, reflecting its success in liquor wholesale and supply chain management[104]. - The subsidiary Guangxi Yiatong Daze Deep Supply Chain Management Co., Ltd. reported an operating revenue of RMB 1,704,265,007 and a net profit of RMB 9,510,859, showcasing its effective supply chain consulting services[107]. - Shenzhen Qianhai Xintong Construction Supply Chain Co., Ltd. generated operating revenue of RMB 572,580,377 with a net profit of RMB 15,266,115, contributing positively to the overall performance[107]. - The total revenue for Shenzhen Yiatong Supply Chain Co., Ltd. was RMB 1,528,186,212, with a year-on-year increase of 661,340,441[116]. - The company reported a net profit of RMB 94,982,019, reflecting a significant improvement compared to the previous period[116]. - The subsidiary Guizhou Yiatong Deep Supply Chain Management Co., Ltd. generated revenue of RMB 268,394,528, with a profit of RMB 97,217,989[116]. - The revenue from the subsidiary Zhejiang Baicheng Group Co., Ltd. reached RMB 1,371,700,575, with a profit of RMB 94,724,917[116]. - The subsidiary Beijing Zhuoyou Yunzhi Technology Co., Ltd. reported revenue of RMB 243,057,495, with a profit of RMB 9,407,123[116]. Financial Management and Risks - The company faces market competition risks due to the increasing number of players in the supply chain management sector, including traditional logistics and new entrants[130]. - Financial risks include high asset-liability ratios due to significant funding needs and potential impacts from macroeconomic conditions[131]. - The company is exposed to foreign exchange risks due to its involvement in foreign currency settlements and plans to mitigate this through forward foreign exchange contracts[132]. - The company has committed to avoiding competition with its controlling shareholder and related parties, ensuring no direct or indirect competition in business operations[145]. - The company has a long-term commitment to maintain independence in personnel, assets, finance, and operations from its controlling shareholder[150]. - The company has not experienced any major related party transactions during the reporting period[188]. Accounting and Compliance - The company has no discrepancies between financial reports prepared under international accounting standards and those under Chinese accounting standards[42]. - The company did not implement any stock incentive plans or employee shareholding plans during the reporting period[175]. - The company has not made any changes to accounting policies or estimates compared to the previous year's financial report[163]. - The company engaged Da Hua Accounting Firm for auditing services, with a fee of ¥4,500,000, and has maintained this auditor for 10 consecutive years[170]. - The company reported related party transactions amounting to ¥118,633,630 with Guangxi Dongrong Supply Chain Co., Ltd., which is a joint venture[178]. - The company has a total of 192.2535 million approved external guarantees, with actual guarantees during the reporting period amounting to 36.117 million[198]. - The company has not engaged in any significant asset or equity acquisition or sale transactions during the reporting period[185]. - The company has a minimum cash dividend ratio of 20% in profit distribution when significant capital expenditures are planned[144]. - The company has committed to fair pricing in related transactions and will disclose such transactions in a timely manner[148]. - The company implemented the new revenue recognition standard starting January 1, 2020, resulting in a decrease in revenue by ¥4,524,161,642 compared to the previous standard, with reported revenue of ¥68,256,101,533[166].

Financial Performance - Operating revenue for the reporting period was CNY 14,820,152,950, representing a year-on-year decrease of 13.64%[9] - Net profit attributable to shareholders of the listed company was CNY 20,610,840, an increase of 116.18% year-on-year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -11,477,250, a decrease of 356.45% compared to the same period last year[9] - Basic earnings per share for the reporting period was CNY 0.01, an increase of 33.33% compared to the previous year[9] - The company expects a cumulative net profit of RMB 9,014.17 million for the year, with a potential increase of up to 50% compared to the previous year[35] - The net profit for the period was CNY 17,219,509, compared to CNY 5,155,677 in the same period last year, indicating a significant improvement[66] - The net profit attributable to the parent company was 81,304,943.00, an increase from 71,082,709.00 in the previous period, reflecting a growth of approximately 14.5%[84] Cash Flow - The net cash flow from operating activities was CNY 847,864,125, an increase of 25.36% year-on-year[9] - Net cash flow from operating activities decreased by 51.57% to RMB 1,005,118,667, attributed to changes in cash flow from the financial platform[29] - The cash flow from operating activities totaled 60,599,442,248.00, slightly up from 59,928,538,598.00 in the previous period[95] - Net cash flow from operating activities was 1,005,118,667.00, a decrease of 51.6% compared to 2,075,389,587.00 in the previous period[98] - The net cash received from other operating activities was 10,516,856,836.00, significantly higher than 5,932,638,182.00 in the previous period, showing an increase of approximately 77.5%[95] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 41,987,520,897, a decrease of 0.21% compared to the end of the previous year[9] - The company's total assets increased to CNY 29,251,115,100 from CNY 28,352,171,506, showing growth in asset base[60] - The company's total liabilities increased to CNY 33.66 billion from CNY 33.48 billion, marking a rise of about 0.6%[51] - The total liabilities increased to CNY 24,811,103,861 from CNY 23,904,153,462, indicating a rise in financial obligations[60] - The company's long-term borrowings decreased to CNY 1.42 billion from CNY 1.54 billion, reflecting a decline of about 7.8%[51] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 101,022[13] - The largest shareholder, Shenzhen Investment Holdings Co., Ltd., held 18.30% of the shares, totaling 388,453,701 shares[13] Revenue Recognition and Accounting Changes - The company implemented the new revenue recognition standard starting January 1, 2020, resulting in the reclassification of advance receipts to contract liabilities[119] - The company implemented new revenue recognition standards from January 1, 2020, adjusting prepayments to contract liabilities[130] Research and Development - Research and development expenses decreased by 46.33% to RMB 5,881,637, reflecting a reduction in capitalized R&D expenditures[29] - Research and development expenses were reduced to CNY 2,031,257 from CNY 4,449,747, suggesting a potential shift in focus or efficiency improvements[63] Financial Management - The company reported a decrease in interest expenses to CNY 293,829,773 from CNY 519,284,252, reflecting improved financial management[63] - Interest income decreased by 34.31% to RMB 100,678,460, primarily due to a contraction in supply chain financial services[29] Other Income and Gains - The company reported non-recurring gains of CNY 198,756,133 during the reporting period[12] - Other income increased by 130.71% to RMB 46,871,712, mainly due to an increase in government subsidies received[29] Investment Activities - The company achieved an investment income of CNY 10,662,645, compared to a loss of CNY 887,082 in the previous period[74] - The investment income for the current period was 30,110,355.00, compared to a loss of 6,892,709.00 in the previous period, indicating a turnaround[88] Comprehensive Income - The total comprehensive income attributable to the parent company is CNY -73,723,470, compared to CNY 58,801,401 in the previous period[70] - The total comprehensive income for the current period was -17,234,409.00, a stark contrast to 125,503,871.00 in the previous period, indicating a substantial decline[87]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥28,735,611,779, a decrease of 5.28% compared to ¥30,336,903,665 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥60,694,103, down 1.39% from ¥61,548,701 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was -¥105,973,940, a significant decline of 391.35% compared to ¥36,373,634 in the same period last year[22]. - The net cash flow from operating activities was ¥157,254,542, a decrease of 88.76% from ¥1,399,045,260 in the previous year[22]. - Total assets at the end of the reporting period were ¥42,414,302,748, an increase of 1.22% from ¥41,901,282,105 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were ¥6,006,660,777, up 1.27% from ¥5,931,423,055 at the end of the previous year[22]. - The basic earnings per share remained at ¥0.03, unchanged from the previous year[22]. - The weighted average return on net assets was 1.02%, slightly down from 1.03% in the previous year[22]. Revenue Breakdown - The company achieved a total operating revenue of 28.803 billion yuan in the first half of 2020[47]. - The total operating revenue for the first half of 2020 was 28.803 billion yuan, remaining stable compared to the same period last year, with a net profit attributable to the parent company of 60.6941 million yuan[48]. - The Broad Comprehensive Business Group achieved an operating revenue of 14.709 billion yuan in the first half of 2020, representing a year-on-year growth of 8.49%[49]. - The 380 New Retail Business Group reported an operating revenue of 14.418 billion yuan, a decrease of 13.82% year-on-year[51]. - The revenue from the 380 new circulation service platform was ¥14,417,773,924, representing 50.17% of total revenue, down 13.82% from ¥16,730,297,417[78]. - The breadth comprehensive business service platform generated ¥14,642,060,555, an increase of 8.86% from ¥13,450,893,742, accounting for 50.95% of total revenue[78]. Strategic Initiatives - The company is focusing on digital transformation to support long-term development and achieve strategic goals[47]. - The company has established a deep distribution platform covering cities across China and Southeast Asia, enhancing market competitiveness[42]. - The company collaborates with over 100 Fortune 500 companies and more than 2,000 well-known enterprises, enhancing resource integration capabilities[38]. - The company is developing new retail models, leveraging e-commerce and smart retail to expand consumer shopping scenarios[35]. - The company has a logistics network covering over 300 cities, providing efficient B2B and B2C delivery capabilities[43]. - The company emphasizes innovation in supply chain services, focusing on customized solutions for various industries[31]. - The digital transformation strategy has led to the development of the Yiatong Supply Chain APP and Yiatong B2B APP, enhancing operational efficiency and marketing services[55]. - The company aims to build a comprehensive supply chain industrial park to enhance local economic development and provide integrated supply chain services[62]. Risks and Challenges - The company faces market competition risks, management risks, financial risks, and exchange rate fluctuation risks[6]. - The company is addressing management risks by improving its management system and focusing on talent development to meet the demands of a growing operational scale[106]. - Financial risks are being managed through stringent control of accounts receivable and enhancing credit management with suppliers[109]. - The company is exposed to foreign exchange risks due to significant foreign currency transactions, which it aims to mitigate through forward foreign exchange contracts[110]. - The company faced market competition risks due to the increasing number of players in the supply chain management sector, necessitating a focus on service capability enhancement[105]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has committed to avoiding direct or indirect competition with its controlling shareholder, Shenzhen Investment Holdings Co., Ltd.[117]. - The company has pledged to maintain independence in personnel, assets, finance, organization, and business from its controlling shareholder[120]. - The half-year financial report has not been audited[134]. - No significant litigation or arbitration matters occurred during the reporting period[137]. Litigation and Disputes - The company is involved in several contract disputes with amounts ranging from CNY 300,000 to CNY 3,000,000, none of which have a significant impact on operations[140][142][145]. - The company has ongoing litigation with amounts totaling CNY 1,215,000 and CNY 425,760, with no significant impact reported[149]. - The company reported a total of 25,851.93 million yuan in litigation cases with amounts less than 3 million yuan, indicating a significant number of small claims[161]. - The company has ongoing litigation cases with amounts including 3,280.04 million yuan and 3,182.61 million yuan, which are currently awaiting judgment[155][156]. - The total amount involved in the litigation cases is substantial, with specific cases such as 2,660.89 million yuan and 1,062 million yuan pending execution[157][158]. - The company has no significant impact from the ongoing litigation cases, as stated in the reports[155][157]. Related Party Transactions - The company has a total of 193,819 million yuan in related party transactions, primarily for the procurement of goods[167]. - The company has confirmed that there are no significant related party transactions exceeding the approved limits[167]. - The company has not engaged in any significant related party transactions during the reporting period[174]. Financial Position - Cash and cash equivalents at the end of the reporting period amounted to ¥10,018,450,388, representing 23.62% of total assets, an increase of 2.69% compared to the previous year[81]. - Accounts receivable totaled ¥12,042,359,094, accounting for 28.39% of total assets, a decrease of 1.33% from the previous year[81]. - Inventory was reported at ¥6,633,402,801, which is 15.64% of total assets, down by 1.71% year-on-year[81]. - Short-term borrowings reached ¥19,000,089,791, making up 44.80% of total liabilities, an increase of 1.59% compared to the previous year[81]. - Long-term borrowings were recorded at ¥1,402,350,655, representing 3.31% of total liabilities, a decrease of 0.36% from the previous year[81]. - Restricted cash amounted to ¥7,236,689,893, primarily used for bank pledge loans[82]. Subsidiaries and Investments - Major subsidiaries contributing over 10% to net profit include Shenzhen Yushang Microfinance Co., Ltd. with a net profit of ¥685,623 and Shanghai Yiyun Supply Chain Co., Ltd. with a net profit of ¥39,625,524[93]. - The company established several new subsidiaries, including Shandong Yunrui Network Technology Co., Ltd. and Hunan Yihe Supply Chain Management Co., Ltd., to enhance its operational capabilities[102]. - The company has no significant equity investments or non-equity investments during the reporting period[86][88]. - The company has not engaged in any asset or equity acquisition or sale transactions during the reporting period[168].

深圳市怡亚通供应链股份有限公司 2020 年第一季度报告全文 深圳市怡亚通供应链股份有限公司 2020 年第一季度报告 2020 年 04 月 1 深圳市怡亚通供应链股份有限公司 2020 年第一季度报告全文 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。 公司负责人周国辉、主管会计工作负责人莫京及会计机构负责人(会计主管人员)陈珍贵 声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市怡亚通供应链股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | --- | --- | |-------|----------------|-------|-------------------------------------------------------------------|--------- ...

Financial Performance - The total revenue for 2019 was CNY 71,833,668,500, representing a 3.07% increase from CNY 69,691,724,963 in 2018[24] - The net profit attributable to shareholders for 2019 was CNY 90,141,722, a decrease of 54.95% compared to CNY 200,089,140 in 2018[24] - The company reported a decline in net profit, indicating potential challenges in operational efficiency[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -159,493,734.00 CNY, a decrease of 195.05% compared to 167,791,697.00 CNY in the previous year[26] - Basic and diluted earnings per share decreased by 55.56% to 0.04 CNY from 0.09 CNY[26] - The weighted average return on equity was 1.53%, down from 3.37% in the previous year[26] - Total assets decreased by 3.44% to 41,901,282,105.00 CNY from 43,392,231,949.00 CNY[26] - The net assets attributable to shareholders increased slightly by 0.33% to 5,931,423,055.00 CNY from 5,911,802,160.00 CNY[26] - The annual profit totaled 22 million yuan, a decline of 89.13% compared to the previous year, while the net profit attributable to the parent company was 9 million yuan, down 54.95%[64] Cash Flow and Financing - The net cash flow from operating activities increased by 59.70% to ¥2,613,956,558 in 2019 from ¥1,636,755,233 in 2018[86] - Operating cash inflow totaled ¥93,305,268,047 in 2019, a decrease of 1.21% from ¥94,448,018,676 in 2018[86] - Operating cash outflow decreased by 2.28% to ¥90,691,311,489 in 2019 from ¥92,811,263,443 in 2018[86] - Total cash inflow from financing activities increased by 11.67% to ¥58,647,222,219 in 2019 from ¥52,517,000,289 in 2018[89] - Total cash outflow from financing activities increased by 9.54% to ¥60,813,916,317 in 2019 from ¥55,518,045,083 in 2018[89] - The net increase in cash and cash equivalents was ¥41,890,356 in 2019, a significant improvement compared to a decrease of ¥1,269,797,943 in 2018[89] - The company's cash and cash equivalents at the end of 2019 amounted to ¥8,771,968,526, representing 20.93% of total assets[90] Strategic Initiatives - The company is focusing on market expansion and new product development as part of its growth strategy[5] - The company aims to integrate government and social economic resources to optimize industrial collaboration platforms[42] - The company is focused on building a comprehensive commercial service platform to enhance supply chain services across various industries[40] - The company plans to enhance the quality of its subsidiaries through refined management and competitive mechanisms[122] - The company plans to transform its distribution model to a "three-dimensional integrated" new circulation model, moving from traditional distribution to a platform service model, reducing inventory and capital outlay[140] - The company aims to achieve a quality performance target in 2020 while undergoing self-transformation and development[63] Market and Operational Challenges - The company faced significant risks in its future operations, which are detailed in the report[5] - The company is addressing market competition risks by enhancing its service capabilities and diversifying its supply chain management services[146] - The management noted significant changes in the market environment due to macroeconomic policies and trade tensions, impacting the company's investment strategy[122] - The company has experienced a higher asset-liability ratio due to the accumulation of accounts receivable and inventory costs, which it plans to address through improved management practices[147] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.1 per 10 shares, based on a total of 2,122,697,819 shares[6] - The company reported a net profit attributable to ordinary shareholders of RMB 90,141,722.00 for 2019, with the cash dividend payout ratio being higher than the previous years' ratios of 21.22% in 2018 and 20.68% in 2017[156] - The company has committed to maintaining at least 212,269,782 shares, representing 10% of total shares, without exercising voting rights, ensuring control over its equity[172] Subsidiary Performance - The total revenue for Shenzhen Yiatong Supply Chain Co., Ltd. reached RMB 1,856,445,507, with a net profit of RMB 525,193,965, indicating a strong performance in the supply chain management consulting and sales segment[129] - The logistics and supply chain management subsidiary, Shanghai Yiatong Supply Chain Co., Ltd., reported revenue of RMB 1,658,181,880, with a net profit of RMB 700,902,381, reflecting a significant increase in operational efficiency[129] - The wine wholesale and supply chain management subsidiary generated revenue of RMB 3,436,750,038, with a net profit of RMB 2,530,173,270, showcasing robust growth in the beverage sector[129] Accounting and Compliance - The company has not made any adjustments or restatements to previous years' accounting data[24] - The company has adopted new accounting policies effective January 1, 2019, impacting the recognition and measurement of financial instruments[181] - The company has ensured compliance with the new financial instrument standards, with no major discrepancies reported in the financial statements[182] - The domestic accounting firm engaged is Dahua Certified Public Accountants, with an audit fee of 4.2 million RMB and a continuous service period of 9 years[189] Future Outlook - The overall financial performance indicates a positive outlook, with strategic initiatives aimed at market expansion and operational efficiency improvements[135] - In 2020, the company aims to establish 30 joint ventures with local governments and state-owned enterprises, targeting a total of 100 within 3-5 years to expand its supply chain platform across China[140] - The company is focusing on digital transformation to enhance operational efficiency, aiming for a comprehensive system architecture adjustment in 2020[142]

Financial Performance - Operating revenue for the period was ¥17,160,630,433, reflecting a year-on-year increase of 0.81%[7] - Net profit attributable to shareholders was ¥9,534,008, down 80.18% year-on-year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,475,459, a decrease of 89.15% compared to the same period last year[7] - Basic earnings per share were ¥0.00, representing a 100% decrease compared to the previous year[7] - Diluted earnings per share were also ¥0.00, down 100% year-on-year[7] - The weighted average return on equity was 0.17%, a decrease of 0.60% compared to the previous year[7] - The company reported a net loss from credit impairment of ¥41,301,225, with no previous period data available[66] - Net profit for the current period was ¥5,155,677, a significant decrease from ¥52,637,215 in the previous period, representing a decline of about 90.2%[66] - Net profit for the current period was ¥71,135,137, down 82.3% from ¥400,680,176 in the previous period[81] - Basic earnings per share for the current period was reported at ¥0.03, compared to ¥0.18 in the previous period[85] - The company’s total comprehensive income for the current period was ¥18.35 million, down from ¥174.54 million, indicating a decline of 89.5%[92] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥43,173,270,357, a decrease of 0.50% compared to the previous year[7] - The company's total assets amounted to 43,173,270,357 yuan, a slight decrease from 43,392,231,949 yuan at the end of 2018[46] - The company's total current assets as of September 30, 2019, were 34,585,796,434 yuan, compared to 34,253,790,918 yuan at the end of 2018[46] - The company's long-term borrowings increased by 52.19% to RMB 1,766,515,252, reflecting a strategic shift in debt structure[25] - The company’s total liabilities decreased slightly to CNY 34.52 billion from CNY 34.76 billion year-over-year, representing a decrease of approximately 0.7%[49] - Current liabilities totaled CNY 30.32 billion, down from CNY 32.07 billion, indicating a reduction of about 5.4%[49] - Long-term borrowings increased significantly to CNY 1.77 billion from CNY 1.16 billion, reflecting a growth of approximately 52.7%[49] - Total liabilities reached CNY 34,757,265,848.00, with current liabilities totaling CNY 32,074,883,561.00[116] Cash Flow - Net cash flow from operating activities was ¥676,344,327, a significant decline of 180.22% year-on-year[7] - The total cash inflow from operating activities was ¥59.93 billion, a decrease of 13.0% compared to ¥68.87 billion in the previous period[95] - Cash outflow from operating activities totaled ¥57.85 billion, down 14.6% from ¥67.72 billion in the previous period[98] - The net cash flow from operating activities improved to ¥2.08 billion, compared to ¥1.15 billion in the previous period, marking a 80.9% increase[98] - The cash flow from investment activities showed a net outflow of ¥176.33 million, worsening from a net outflow of ¥64.75 million in the previous period[98] - Cash inflow from financing activities reached ¥22,488,654,508, compared to ¥17,466,659,995 in the previous period, marking an increase of about 29%[105] Investments and Expenses - The company reported investment income of ¥173,093,310, an increase from ¥67,957,608 in the previous period[78] - Investment income surged by 154.71% to RMB 173,093,310, driven by increased returns from joint ventures[25] - The company’s research and development expenses decreased by 34.78% to RMB 10,958,654, attributed to a change in the consolidation scope of a subsidiary[25] - Research and development expenses for the current period were ¥10,958,654, down 34.8% from ¥16,803,169 in the previous period[78] - The company reported a significant increase in financial expenses, totaling ¥916.65 million, up from ¥702.68 million, representing a 30.5% rise[90] Shareholder Information - The total number of shareholders at the end of the reporting period was 106,822[11] - The first phase of the employee stock ownership plan resulted in the purchase of 75,437,913 shares, accounting for 3.56% of the total share capital, at an average price of 11.00 yuan per share[30] - As of the report date, 43,000,000 shares from the employee stock ownership plan have been sold, representing approximately 2.03% of the total share capital[32] - The company distributed dividends and interest payments totaling ¥852,424,329, slightly down from ¥883,042,637 in the previous period[105]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 30,336,903,665, a decrease of 17.42% compared to CNY 36,736,125,204 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was CNY 61,548,701, down 82.02% from CNY 342,281,448 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 36,373,634, a decline of 89.32% compared to CNY 340,499,448 in the same period last year[22]. - The net cash flow from operating activities was CNY 1,399,045,260, which represents a decrease of 29.78% from CNY 1,992,481,373 in the previous year[22]. - Basic earnings per share were CNY 0.03, down 81.25% from CNY 0.16 in the same period last year[22]. - The total profit for the first half of 2019 was 93 million yuan, down 79.91% year-on-year[51]. - The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was 1.094 billion yuan, down 15.78% year-on-year[51]. - The company expects a net profit decline of over 50% for the first nine months of 2019, with a projected range of RMB 5.86 million to RMB 11.71 million, compared to RMB 39.04 million in the same period last year[107]. Revenue Breakdown - The company achieved total operating revenue of 30.444 billion yuan, a decrease of 17.50% compared to the same period last year[51]. - The breadth supply chain business generated revenue of 9.925 billion yuan, an increase of 12.04% year-on-year[52]. - The deep supply chain business revenue was CNY 16.57 billion, down 20.88% year-on-year, with a gross profit of CNY 1.40 billion, a decrease of 15.87%[54][56]. - The logistics platform revenue increased by 4.04% to CNY 356.20 million, with a gross profit of CNY 51 million, up from the previous year[57]. - The global procurement platform revenue decreased by 46.59% to CNY 3.52 billion, primarily due to a significant drop in chemical business revenue[66]. - The revenue from the appliance sector was CNY 384.49 million, down from CNY 513.38 million in the previous year[56]. - The company reported a revenue of RMB 2.3 billion for its supply chain management and import-export business, with a year-on-year growth of 703%[100]. Asset and Liability Management - The total assets at the end of the reporting period were CNY 42,696,458,487, a decrease of 1.60% from CNY 43,392,231,949 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were CNY 5,951,342,830, an increase of 0.67% from CNY 5,911,802,160 at the end of the previous year[22]. - As of the end of the reporting period, cash and cash equivalents amounted to CNY 8,148,408,620, representing 19.08% of total assets, a decrease of 0.17% compared to the previous year[70]. - Accounts receivable stood at CNY 12,739,897,009, accounting for 29.84% of total assets, an increase of 0.16% year-on-year[70]. - Inventory was valued at CNY 8,086,857,778, making up 18.94% of total assets, with a slight increase of 0.07% from the previous year[70]. - Short-term borrowings decreased to CNY 17,728,485,737, which is 41.52% of total liabilities, down by 2.73% compared to the previous year[70]. - Long-term borrowings increased to CNY 1,652,622,874, representing 3.87% of total liabilities, an increase of 1.20% year-on-year[70]. Strategic Initiatives - The company is focusing on innovative business models such as cross-border financing and "distribution + marketing" to drive growth[52]. - The company plans to optimize its development strategy and management system in response to changing internal and external environments[57]. - The company aims to enhance collaboration with Shenzhen Investment Holdings to support financing and business development[57]. - The company is focusing on refining its platform management and improving resource allocation to enhance productivity[56]. - The company plans to enhance its supply chain business diversification and management precision to mitigate market risks and strengthen its competitive edge[110]. Legal Matters - The company is involved in several ongoing legal disputes with a total amount of approximately 5,000 million yuan, with no significant impact expected[128]. - The company is involved in multiple legal disputes, with claims totaling approximately 4,657.41 million and 3,600 million in two significant cases[131][134]. - The company has ongoing litigation with a total of 1,000 million in claims related to contract disputes, awaiting court decisions[140]. - The company has reported no significant impact from these legal disputes on its overall operations[131][134]. - The company is actively pursuing legal actions to recover debts, with several cases in execution phase totaling over 2,557.91 million[140]. Related Party Transactions - There are no significant related party transactions reported during the period, including asset acquisitions or sales[154][158]. - The company has provided guarantees totaling 20,000 thousand yuan and 100,000 thousand yuan for downstream micro-enterprises, with the actual guarantee amount being 1,100.63 thousand yuan[169]. - The company has a related party debt with Shenzhen Huamao Pawnshop totaling 50,000 thousand yuan, with an interest of 3,912.29 thousand yuan accrued during the period[160]. - The company has a related party debt with Shenzhen Zhongxiao Enterprise Credit Financing Guarantee Group totaling 76,000 thousand yuan, with an interest of 4,717.29 thousand yuan accrued during the period[160]. - The company has a related party debt with Shenzhen Gaoxin Investment Group totaling 95,000 thousand yuan, with an interest of 2,070 thousand yuan accrued during the period[160]. Guarantees and Liabilities - The company reported a total liability guarantee of 287,201.07 million for the period ending June 29, 2019[181]. - The company has a total of 30,000 million in liability guarantees expiring on June 16, 2018, with a duration of 3 years[181]. - A liability guarantee of 20,000 million was recorded on March 16, 2018, with a 3-year duration[181]. - The company has a guarantee amount of 10,000 for a subsidiary, with a guarantee period of 1 year[178]. - The company has a guarantee amount of 20,000 for another subsidiary, with a guarantee period of 1 year[178].

Financial Performance - The company reported a total revenue of RMB 2,122,697,819 for the year 2018, with a cash dividend of RMB 0.20 per 10 shares distributed to shareholders[11]. - The company's operating revenue for 2018 was ¥69,691,724,963, representing a 2.40% increase from ¥68,059,306,079 in 2017[28]. - The net profit attributable to shareholders for 2018 was ¥200,089,140, a decrease of 66.38% compared to ¥595,236,222 in 2017[28]. - The basic earnings per share for 2018 was ¥0.09, down 67.86% from ¥0.28 in 2017[30]. - The total revenue for the company in 2018 was approximately 69.69 billion yuan, representing a 2.40% increase from 2017[74]. - Annual profit before tax was 204 million yuan, a decrease of 73.34% compared to the previous year[63]. - The company reported a quarterly revenue of ¥18,355,096,490 in Q1 2018, with a decline to ¥15,933,223,571 in Q4 2018[33]. - The company experienced a net loss attributable to shareholders of ¥190,286,135 in Q4 2018, following profits in the earlier quarters[33]. - Non-recurring gains for 2018 totaled ¥32,297,443, down from ¥42,590,525 in 2017[36]. Cash Flow and Financial Management - The net cash flow from operating activities for 2018 was ¥1,636,755,233, a significant increase of 3,926.96% from ¥40,644,959 in 2017[30]. - Operating cash inflow totaled CNY 94,448,018,676, marking a 7.52% increase, while cash outflow was CNY 92,811,263,443, up by 5.70%[86]. - Cash flow from financing activities showed a net outflow of CNY 3,001,044,794, a 1,783.50% increase in losses compared to the previous year[89]. - The company's cash and cash equivalents decreased by CNY 1,269,797,943, reflecting a 1,507.68% increase in net decrease[89]. - The proportion of monetary funds in total assets decreased by 1.25% to 19.25%, while accounts receivable increased by 2.50% to 29.68%[90]. - The company plans to enhance cash flow management and reduce the asset-liability ratio through cost control measures[126]. Business Strategy and Development - The company aims to enhance its supply chain management services and diversify its business to maintain its leading position in the industry[6]. - The company plans to implement a dual-driven model of "comprehensive supply chain services" and "supply chain finance" to improve its financial condition[10]. - The company is focusing on upgrading services to a "supply chain operation + marketing" model to explore potential value in the "1+N" business model[64]. - The company plans to implement a "Supply Chain +" strategy to enhance collaborative development and promote supply chain financial services[119]. - The company aims to establish a supply chain cloud platform and innovate the "Star Chain" model to enhance service capabilities across various supply chain nodes[119]. - The company is actively pursuing new retail scenarios to enhance online and offline consumer engagement through a shared economy platform[121]. Risk Management - The company is focusing on improving its accounts receivable collection and strengthening vendor credit to mitigate financial risks[10]. - The company is facing market competition risks due to the increasing number of players in the supply chain management sector, including traditional logistics and new entrants[6]. - The company acknowledges the potential impact of macroeconomic factors on its financial expenses and is taking steps to manage these uncertainties[10]. - The company is actively managing foreign exchange risks by signing forward foreign exchange contracts to lock in exchange rates[11]. - The company will strengthen internal control management to mitigate risks and ensure the safety of state-owned assets[129]. Talent and Organizational Development - The company emphasizes the importance of talent acquisition and training to enhance its management capabilities in response to its growing operational scale[7]. - The company aims to improve employee efficiency by at least 15% in 2019 through organizational restructuring and performance evaluation mechanisms[125]. - The performance evaluation and incentive mechanisms will be refined to attract and retain top management talent[125]. Subsidiaries and Investments - The subsidiary Shenzhen Yushang Microfinance Co., Ltd. reported a net profit of CNY 30,609,413, contributing significantly to the company's overall profitability[107]. - The subsidiary Lianyi (Hong Kong) Limited generated a net profit of CNY 167,875,293 from its investment holding and logistics business[107]. - The company has established strategic partnerships with major clients such as Philips, Bosch, Netgear, and Haier[64]. - The company has established a joint venture for computer R&D and production, aiming to become a leading player in the autonomous and controllable business sector[73]. Shareholder and Dividend Information - The cash dividend in 2018 amounted to RMB 42,453,956, representing 21.22% of the net profit attributable to ordinary shareholders[139]. - The total cash dividend amount (including other methods) is CNY 42,453,956.00, which accounts for 100% of the distributable profit[142]. - The distributable profit for the period is CNY 899,528,489.00[142]. - The company has committed to avoiding direct or indirect competition with its controlled enterprises after the completion of the equity change[143]. - The company has promised to avoid related transactions that could harm the interests of the company and its shareholders[155]. Accounting and Reporting - The company has adjusted its financial statements according to the new reporting format, impacting the comparative data for previous periods[165]. - The company reported a total of 13,359,946,776 CNY in receivables after adjustments, reflecting a decrease of 13,359,946,776 CNY in accounts receivable[166]. - The total payables after adjustments amounted to 8,381,240,866 CNY, with a decrease of 8,381,240,866 CNY in accounts payable[170]. - The company included 37 new entities in its consolidated financial statements while excluding 25 entities compared to the previous period[171]. - The company has not experienced any significant accounting errors requiring retrospective restatement during the reporting period[171].