中国全聚德（集团）股份有限公司投资者关系活动记录表 编号：2022-003 | --- | --- | --- | --- | |--------------------|---------------------------------------|----------------------|-------------------------------------------------------------------------------------------------------------| | | | | | | | ■特定对象调研 □分析师会议 | | | | | □媒体采访 | □业绩说明会 | | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | | | □现场参观 | □其他 | （请文字说明其他活动内容） | | | 总经理 周延龙先生 董事会秘书 唐颖女士 | | | | | 申万宏源 赵令伊 | 杨光 博时基金 王诗瑶 | | | | 北京信托 刘鹏 | 华夏基金 | 徐漫 | | 活动参与人员 | 国寿养老 高媛媛 方正资管 韩雨珊 | | | | | ...

Financial Performance - Total revenue for Q3 2022 was ¥237,001,972.09, a decrease of 4.03% compared to the same period last year[5] - Net profit attributable to shareholders was -¥22,591,570.98, representing a 7.31% increase in loss year-over-year[5] - Year-to-date net profit attributable to shareholders reached -¥175,132,685.79, a significant decline of 162.08% compared to the previous year[5] - Total operating revenue for Q3 2022 was CNY 564.34 million, a decrease of 22.3% compared to CNY 726.38 million in the same period last year[22] - Net loss for Q3 2022 was CNY 185.83 million, compared to a net loss of CNY 76.24 million in Q3 2021, representing an increase in loss of 143.5%[23] - The total comprehensive income for the third quarter was -185,825,336.83 CNY, compared to -76,243,076.33 CNY in the previous year, indicating a significant decline[24] - The basic earnings per share for the period was -0.5706 CNY, compared to -0.2175 CNY in the same period last year[24] Cash Flow and Assets - Operating cash flow net amount for the year-to-date was -¥97,586,330.42, a drastic decrease of 310.34%[5] - The company's cash and cash equivalents were CNY 391.31 million, down 24.8% from CNY 520.27 million[19] - Cash flow from operating activities showed a net outflow of -97,586,330.42 CNY, worsening from -23,781,797.74 CNY in the previous year[25] - The total cash outflow from operating activities was 700,325,327.88 CNY, compared to 763,167,671.35 CNY in the previous year[25] - The cash and cash equivalents at the end of the period amounted to 214,280,414.68 CNY, a decrease from 242,608,225.32 CNY year-over-year[26] - The company reported a cash inflow from other operating activities of 11,260,923.87 CNY, down from 14,609,660.37 CNY in the previous year[25] Liabilities and Equity - Total assets as of September 30, 2022, were ¥1,565,246,586.57, down 11.90% from the end of the previous year[5] - Shareholder equity decreased by 17.15% to ¥846,123,103.51 compared to the end of the previous year[5] - Current liabilities increased to CNY 510.19 million from CNY 497.50 million, reflecting a rise of 2.3%[20] - Non-current liabilities decreased to CNY 182.78 million from CNY 221.13 million, a reduction of 17.3%[20] - The company’s retained earnings showed a significant decline, with a negative balance of CNY 151.64 million compared to a positive balance of CNY 23.49 million in the previous year[20] Research and Development - Research and development expenses increased by 43.52% to ¥2,647,503.88 for the year-to-date[10] - The company reported an increase in research and development expenses to CNY 2.65 million from CNY 1.84 million, a rise of 43.5%[22] Operational Challenges - The company faced significant impacts on revenue and operational results due to the ongoing pandemic, with some dining locations continuing to suspend in-person dining[16] - The company reported a year-on-year reduction in profit loss of 7.31% in Q3 2022, despite challenges from ongoing pandemic-related restrictions affecting customer traffic[16] - The company is committed to balancing pandemic prevention and operational management to ensure safe operations while advancing annual key project implementations[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,773, with no preferred shareholders having restored voting rights[14] - The largest shareholder, Beijing Capital Tourism Group, holds 43.67% of the shares, equating to 134,691,476 shares[14] Investment Activities - The company reported a 76.51% increase in cash flow from investment activities, amounting to ¥175,685,689.72 for the year-to-date[11] - Cash inflow from investment activities was 249,211,522.23 CNY, down from 380,390,682.81 CNY year-over-year[26] - The net cash flow from investment activities increased to 175,685,689.72 CNY, compared to 99,532,261.07 CNY in the previous year[26] - The company received 22,564,761.55 CNY in investment income, an increase from 20,864,471.27 CNY year-over-year[26] Financing Activities - In Q3 2022, the company reported a decrease in other financing activities by 79.58%, amounting to CNY 490,000 compared to CNY 2,400,000 in the previous period, primarily due to a reduction in shareholder loans[12] - The cash inflow from financing activities was 490,000.00 CNY, significantly lower than 4,200,000.00 CNY in the previous year[26]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥327,334,630.27, a decrease of 31.72% compared to ¥479,435,359.20 in the same period last year[22]. - The net loss attributable to shareholders was ¥152,541,114.81, representing a decline of 259.32% from a loss of ¥42,452,924.26 in the previous year[22]. - The net cash flow from operating activities was -¥111,142,513.03, a significant drop of 345.77% compared to -¥24,932,950.81 in the same period last year[22]. - Basic earnings per share were -¥0.4970, down 259.88% from -¥0.1381 in the previous year[22]. - Total assets at the end of the reporting period were ¥1,568,658,053.83, a decrease of 11.71% from ¥1,776,724,453.65 at the end of the previous year[22]. - The net assets attributable to shareholders decreased by 14.94%, from ¥1,021,255,789.30 to ¥868,714,674.49[22]. - The company reported a total of ¥1,786,287.37 in non-recurring gains and losses, which included losses of ¥5,925,338.86 due to restaurant closures caused by the COVID-19 pandemic[27]. - The weighted average return on net assets was -16.14%, a decline of 12.51% from -3.63% in the previous year[22]. - The revenue from the catering segment was ¥241,761,279.02, accounting for 73.86% of total revenue, down 33.64% from the previous year[62]. - The company reported a net cash flow from operating activities of -¥111,142,513.03, a decline of 356.85% compared to -¥24,932,950.81 in the previous year, largely due to reduced cash receipts from sales[61]. Operational Changes - The company operates a total of 109 restaurants, including 99 under the Quanjude brand, as of the end of the reporting period[31]. - As of June 30, 2022, 32 direct-operated stores were closed, with an average closure duration of 51 days, significantly impacting operations[39]. - The company implemented cost-cutting measures, including reducing labor costs and applying for tax refunds and rent reductions to alleviate financial pressure[40]. - The company is focusing on digital transformation and enhancing operational efficiency through new retail and new media strategies[32]. - The company has implemented a strict franchise management model, focusing on unified brand image and quality control across franchise stores[56]. Product Development and Innovation - The company launched 30 categories of prepared dishes and pre-packaged cooked foods to the market, enhancing its product offerings[37]. - The company has entered the prepared food market, with 30 types of pre-packaged dishes launched, including 52,000 units of hand-sliced roast duck sold since October 2021[45]. - The company is accelerating the transformation of its main stores and enhancing product quality, with new seasonal dishes performing well since the resumption of dine-in services[46]. - The company has established two production bases, capable of producing 5 million duck products annually, with a focus on meat, noodles, condiments, and cooked duck products[31]. - The company aims to improve its dining experience by introducing new menus targeting local residents and young consumers in Beijing[37]. Strategic Initiatives - The company is actively engaging in policy opportunities to stimulate consumption and support business recovery amid economic challenges[30]. - The company has implemented a virtual equity incentive plan for its management to enhance motivation and retention[36]. - The company is exploring potential mergers and acquisitions to strengthen its market presence and diversify its product offerings[176]. - The company plans to optimize its operating model to reduce personnel consumption and operational costs in response to rising costs in labor, rent, and food materials[81]. - The company plans to focus on market expansion and new product development to enhance revenue streams in the upcoming quarters[170]. Environmental and Social Responsibility - The company has built a wastewater treatment facility and installed automatic monitoring equipment to ensure compliance with environmental standards[90]. - The company has developed an emergency response plan for environmental incidents, which has been registered[92]. - The company has a quarterly environmental self-monitoring plan in place, utilizing third-party agencies for assessments[93]. - The company faced an administrative penalty of 100,000 yuan due to nitrogen oxide emissions exceeding the standards set by Beijing[94]. - The company has implemented various measures to reduce carbon emissions, including oil fume purification and replacing old air conditioning units[95]. Corporate Governance and Shareholder Relations - The company emphasizes the protection of shareholder rights and has established a comprehensive internal control system to ensure fair treatment of all shareholders[97]. - The company has not engaged in any significant litigation or arbitration matters during the reporting period[108]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[103]. - The company has not conducted any related party transactions concerning daily operations during the reporting period[108]. - The company has maintained a focus on environmental protection and has increased investment in improving technology to reduce energy consumption and emissions[98].

Financial Performance - The company's revenue for Q1 2022 was CNY 213,953,176.66, representing a 4.04% increase compared to CNY 205,652,008.01 in the same period last year[3] - The net profit attributable to shareholders was a loss of CNY 47,285,463.03, slightly worsening from a loss of CNY 47,085,212.75 year-over-year, indicating a -0.43% change[3] - Total operating revenue for Q1 2022 was CNY 213,953,176.66, an increase of 4.3% compared to CNY 205,652,008.01 in the same period last year[20] - Net profit for Q1 2022 was a loss of CNY 50,424,074.89, slightly improved from a loss of CNY 50,998,071.22 in Q1 2021[21] Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 50,319,656.38, a decline of 5.54% from -CNY 47,679,203.10 in the previous year[3] - The net cash increase in cash and cash equivalents was -CNY 56,756,945.94, a decrease of 122.88% compared to an increase of CNY 248,103,088.96 in the previous year[9] - Cash inflows from operating activities totaled CNY 225,644,063.01, an increase from CNY 203,696,017.74 in the previous year[25] - The ending balance of cash and cash equivalents was 123,635,443.82 CNY, down from 457,180,427.44 CNY at the end of the previous year[26] Assets and Liabilities - Total assets decreased by 4.63% to CNY 1,694,532,562.24 from CNY 1,776,724,453.65 at the end of the previous year[3] - The company reported a total current liability of approximately CNY 474.84 million, down from CNY 497.50 million at the beginning of the year[17] - The total liabilities as of Q1 2022 were CNY 686,858,433.44, down from CNY 718,626,249.96 in the previous quarter[21] - The company's equity attributable to shareholders fell by 4.63% to CNY 973,970,326.27 from CNY 1,021,255,789.30[3] Research and Development - Research and development expenses increased by 114.67% to CNY 951,947.73 from CNY 443,446.57 in the same period last year[8] - Research and development expenses increased to CNY 951,947.73 in Q1 2022, up from CNY 443,446.57 in Q1 2021, reflecting a focus on innovation[21] Operational Challenges and Strategies - In Q1 2022, the company achieved a revenue growth of 30% year-on-year, but faced significant challenges in March due to intensified pandemic measures, resulting in 31 store closures and a substantial decline in restaurant income[14] - The company is actively pursuing strategies to enhance its operational efficiency and adapt to market conditions amid ongoing challenges[14] - The company continues to focus on upgrading its main stores and promoting food product projects, indicating a commitment to innovation and market expansion[13] Other Income and Expenses - Other income surged by 298.27% to CNY 3,851,008.03 compared to CNY 966,924.95 in the previous year, primarily due to government subsidies received[8] - The company reported a decrease in sales expenses to CNY 10,240,164.89 from CNY 8,440,140.27 year-over-year, indicating cost management efforts[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 25,951[11] - The company reported a basic earnings per share of -0.1541 for Q1 2022, compared to -0.1530 in Q1 2021[22] Inventory and Receivables - Accounts receivable increased from CNY 38.65 million at the beginning of the year to CNY 48.58 million by the end of Q1 2022[16] - The company’s inventory rose from CNY 60.60 million at the beginning of the year to CNY 69.13 million by the end of Q1 2022[16] Audit Information - The company did not undergo an audit for the first quarter report[27]

Financial Performance - The company's operating revenue for 2021 was ¥947,745,796.76, representing a 20.99% increase compared to ¥783,317,921.52 in 2020[20] - The net profit attributable to shareholders was -¥156,928,433.06, an improvement of 40.07% from -¥261,861,440.90 in the previous year[20] - The net cash flow from operating activities was -¥88,476,020.37, showing a 41.39% improvement compared to -¥150,966,203.04 in 2020[20] - The basic earnings per share for 2021 was -¥0.5110, which is a 39.81% improvement from -¥0.8490 in 2020[20] - Total assets at the end of 2021 amounted to ¥1,776,724,453.65, a 1.93% increase from ¥1,743,057,709.83 at the end of 2020[20] - The net assets attributable to shareholders decreased by 16.03% to ¥1,021,255,789.30 from ¥1,216,235,240.09 in 2020[20] - The company reported a weighted average return on equity of -14.24%, an improvement from -19.26% in the previous year[20] - The company's revenue, after deducting non-operating lease income, was ¥927,313,869.41, up from ¥767,178,023.23 in 2020[21] - The total revenue for the year 2021 was ¥947.75 million, with a net profit of -¥156.93 million, resulting in a basic earnings per share of -¥0.5110[35] Revenue Trends - In Q1 2021, the company reported a revenue of ¥205.65 million, followed by ¥273.78 million in Q2, ¥246.95 million in Q3, and ¥221.36 million in Q4, indicating a fluctuating revenue trend throughout the year[25] - The net profit attributable to shareholders was negative in all quarters, with a loss of ¥47.09 million in Q1, a profit of ¥4.63 million in Q2, a loss of ¥24.37 million in Q3, and a loss of ¥90.10 million in Q4[25] - The company experienced a net cash flow from operating activities of -¥47.68 million in Q1, positive ¥22.75 million in Q2, positive ¥1.15 million in Q3, and negative ¥64.69 million in Q4, reflecting significant cash flow volatility[25] Strategic Initiatives - The company is focusing on digital transformation and enhancing operational efficiency as part of its strategic plan for sustainable development[34] - The company aims to create a new pattern of product + service + scene in its restaurant operations, enhancing customer experience through innovative dining concepts[35] - The company has established two production bases for food processing, with an annual production capacity of 5 million duck products[33] - The company launched over 10 new cooked food products and three New Year's Eve gift boxes by the end of December 2021, achieving strong sales during the Spring Festival[36] - The company’s first group meal project, the Global Partner Restaurant, achieved profitability in its first year of operation, serving employees of Universal Studios[36] - The new Sichuan restaurant opened in December 2021 and quickly became a dining hotspot, indicating strong brand potential[36] Operational Efficiency - The company implemented a restructuring of its headquarters to enhance management efficiency, establishing three main centers: restaurant operations, financial management, and human resources[37] - The company upgraded its smart cash register management system across all restaurants, enhancing data support for management analysis[41] - The company completed the development of its digital transformation plan, including the implementation of an online mall and financial shared services[42] - The company successfully fulfilled major service tasks for significant political events, receiving high praise for its service quality[42] Market Position and Growth - The restaurant industry in China saw a total revenue of ¥4.6895 trillion in 2021, with a year-on-year growth of 18.6%[31] - The pre-prepared food market in China was estimated to reach ¥345.9 billion in 2021, with a growth rate of 18.1%[31] - The company has established a multi-brand strategy with four distinct brands, enhancing its market presence and operational efficiency[46] - The company’s revenue from the North China region was ¥636,264,304.98, representing 67.13% of total revenue, with a growth of 23.99% year-on-year[52] Research and Development - The company’s R&D expenses rose significantly by 91.47%, amounting to ¥2,916,280.86, indicating a strong focus on innovation[48] - The company’s R&D investment as a percentage of total revenue increased to 0.31%, up from 0.19% in the previous year[66] - The number of R&D personnel decreased by 7.35% to 63, while the proportion of R&D staff relative to total employees increased to 2.02%[66] - The company aims to accelerate food research and development, focusing on the transformation of restaurant products into packaged food, targeting an annual production capacity of 200,000 sets of vacuum-packed roast duck[86] Talent Management - The company is committed to attracting and retaining talent by reforming its incentive mechanisms and performance management systems[88] - The company has implemented a market-oriented mechanism to attract and retain talent, addressing the high turnover rates in the industry[90] - The total number of employees at the end of the reporting period is 3,121, with 1,208 in the parent company and 1,913 in major subsidiaries[130] - The professional composition includes 302 production personnel, 627 sales personnel, 971 technical personnel, 71 financial personnel, 418 administrative personnel, and 600 logistics support personnel[130] Corporate Governance - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with governance regulations[95] - The company maintains a transparent information disclosure process, adhering to legal requirements and protecting investor rights[97] - The company operates independently from its controlling shareholder, Shoulu Group, with complete autonomy in assets, personnel, finance, organization, and business operations[99] - The company has established an independent financial management center and does not share bank accounts with the controlling shareholder, ensuring no monetary asset occupation by the shareholder[99] Environmental and Social Responsibility - The company has established a three-level energy management system to enhance environmental protection and reduce carbon emissions through various measures, including the renovation of the boiler room and replacement of old air conditioning units[154] - The company reported a fine of CNY 30,000 for exceeding wastewater discharge standards at the Wangfujing store, which has since completed rectification measures[152] - The company has actively engaged in social responsibility initiatives, focusing on food safety, environmental protection, and resource utilization[155] - The company has conducted quarterly environmental monitoring through third-party agencies to ensure compliance with environmental standards[151] Financial Reporting and Compliance - The internal control self-assessment report indicated that the company maintained effective financial reporting internal controls as of December 31, 2021[144] - There were no significant defects identified in the internal control audit report, which received a standard unqualified opinion[145] - The company has not reported any significant issues during its self-inspection for corporate governance compliance[146] - The company confirmed that all commitments made to minority shareholders were fulfilled on time[161]

Financial Performance - The company's operating revenue for Q3 2021 was ¥246,947,000.42, representing a 21.64% increase compared to the same period last year[3]. - The net profit attributable to shareholders was -¥24,372,258.69, a 54.68% decline year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥28,804,136.66, a decrease of 50.45% compared to the previous year[3]. - The company's basic earnings per share were -¥0.0794, a 54.47% decline year-on-year[3]. - The net loss for Q3 2021 was CNY 76,243,076.33, compared to a net loss of CNY 219,044,926.23 in Q3 2020, showing an improvement of approximately 65.2%[20]. - The company reported a gross profit margin of approximately 7.5% for Q3 2021, down from the previous year's margin[19]. Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥1,904,687,614.30, reflecting a 9.27% increase from the end of the previous year[3]. - The company's total assets reached CNY 1,904,687,614.30, an increase from CNY 1,743,057,709.83 year-over-year[18]. - Total liabilities increased to CNY 742,336,027.40 from CNY 475,256,203.12, reflecting a rise of about 56.1%[18]. - Total liabilities increased from 727,752,064.78 yuan to 475,256,203.12 yuan, an increase of 252,495,861.66 yuan[28]. - The total equity attributable to shareholders of the parent company decreased to CNY 1,120,203,213.66 from CNY 1,216,235,240.09, a decline of approximately 7.9%[18]. Cash Flow - The cash flow from operating activities showed a net outflow of -¥23,781,797.74, a 76.67% decrease compared to the previous year[3]. - Operating cash flow for the current period was negative at -23,781,797.74 yuan, an improvement from -101,955,130.39 yuan in the previous period[22]. - Investment activities generated a net cash flow of RMB 99,532,261.07, a significant turnaround from RMB -285,646,789.16 in the previous year, mainly due to a decrease in structured deposits[11]. - Total cash inflow from investment activities was 380,390,682.81 yuan, down from 797,429,040.96 yuan year-over-year[24]. - Cash and cash equivalents increased by 108.23% to RMB 33,530,886.84, driven by improved cash flow from investment activities[11]. Operational Efficiency - The company has implemented cost-saving measures and efficiency improvements to enhance operational performance[14]. - The company’s cash flow from operating activities showed a positive trend, indicating improved operational efficiency[22]. Research and Development - Research and development expenses increased by 65.14% to ¥1,844,717.03, indicating a focus on innovation[10]. - Research and development expenses for Q3 2021 were CNY 1,844,717.03, compared to CNY 1,117,031.32 in the same period last year, indicating an increase of about 65.1%[19]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,515, with the largest shareholder holding 43.67% of the shares[13]. - The company reported a total of 308,463,955 shares outstanding, consistent with prior reports[29]. Other Information - The company launched new dining concepts and continued to promote its brand, including the opening of the "Taste of Light and Shadow" themed restaurant[14]. - The company is focusing on product development related to the 2022 Beijing Winter Olympics, aiming to create new revenue streams[14]. - The third quarter report was not audited, indicating that the figures may be subject to further review[30]. - The company adopted the new leasing standards effective January 1, 2021, which resulted in adjustments to financial statement items[29].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥479,435,359.20, representing a 53.37% increase compared to ¥312,609,159.75 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of ¥42,452,924.26, which is a 71.40% improvement from a loss of ¥148,426,732.55 in the previous year[19]. - The net cash flow from operating activities improved to -¥24,932,950.81, a 75.28% increase compared to -¥100,862,631.83 in the same period last year[19]. - The total assets at the end of the reporting period were ¥1,873,515,354.99, reflecting a 7.48% increase from ¥1,743,057,709.83 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 5.89% to ¥1,144,575,472.35 from ¥1,216,235,240.09 at the end of the previous year[19]. - The basic earnings per share improved to -¥0.1381, a 71.30% increase from -¥0.4812 in the same period last year[19]. - The weighted average return on net assets was -3.63%, an improvement of 6.79% from -10.42% in the previous year[19]. - The company's operating revenue for the reporting period reached ¥479,435,359.20, representing a year-on-year increase of 53.37% compared to ¥312,609,159.75 in the same period last year[49]. - The cost of goods sold increased by 19.30% to ¥437,530,943.67 from ¥366,748,370.07, indicating improved revenue management despite rising costs[49]. - The net loss for the first half of 2021 was CNY 49,183,357.29, a reduction from a net loss of CNY 159,588,670.27 in the same period of 2020, showing an improvement of approximately 69.1%[144]. Operational Developments - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company achieved operating revenue of CNY 479.44 million in the first half of 2021, with a net profit attributable to shareholders of CNY -42.45 million, resulting in a basic earnings per share of CNY -0.1381[30]. - As of the end of the reporting period, the company operated a total of 113 restaurants across various cities, with 103 under the "Quanjude" brand, indicating a strong brand presence[27]. - The company plans to enhance its food research and development efforts, focusing on transforming restaurant products into packaged food items, thereby expanding its market reach[28]. - The company is advancing its digital transformation to improve operational efficiency and enhance consumer experience, aligning with the new retail and media trends[28]. - The "Universal Partner Restaurant" project, aimed at providing catering services to employees of Universal Studios, has seen a month-on-month increase in both customer visits and revenue since its trial opening on January 15, 2021[33]. - The company is set to launch a food production project that will produce processed meat products and convenience dishes, which will support both internal and external market needs[33]. - The company has introduced a new menu concept called "Jiang Jiu Cai," which emphasizes traditional dishes while incorporating innovative ingredients, aiming to enhance customer dining experiences[34]. - The company has implemented a new service standard that includes "Five Prohibitions, Six Voices, Six Smiles, and Ten Scenarios" to improve customer service quality[35]. - The company is actively promoting its brand through visual and environmental identity systems to enhance brand recognition and standardization across its restaurant chain[32]. Financial Management - The company reported a net increase in cash and cash equivalents of ¥74,830,178.47, a turnaround from a decrease of ¥404,023,266.41 in the prior year, indicating better liquidity management[50]. - The company's financial expenses surged by 1,733.76% to ¥5,075,107.78, primarily due to interest expenses related to lease liabilities under new accounting standards[49]. - The gross profit margin for the restaurant segment improved to 43.66%, up from 26.66% in the previous year, showcasing enhanced operational efficiency[53]. - The company reported a total of ¥15,369,025.4 in treasury shares, reflecting a 0.52% increase due to share buybacks during the reporting period[56]. - The company faced significant negative impacts on its restaurant and food business due to the COVID-19 pandemic, with ongoing uncertainty regarding the duration of these effects[69]. - The company is implementing multiple measures to reduce costs, including optimizing operational models and establishing a new management system to ensure investment returns for new store openings[70]. - The company has established a comprehensive internal control system to protect shareholder rights, particularly for minority shareholders[84]. Market and Consumer Insights - In June 2021, China's total retail sales of consumer goods reached CNY 375.86 billion, reflecting a year-on-year growth of 12.1% and a 10% increase compared to the same period in 2019, showcasing a recovery in consumer spending[29]. - The company achieved a significant increase in the sales of its zongzi products, with a shipping value growth of 368.75% compared to 2020 and 95.16% compared to 2019[38]. - The launch of the "Mengbao Duck" IP and related products, including various flavored ice creams, has successfully attracted consumer interest and increased sales during the Spring Festival[37]. - The company launched targeted marketing campaigns, including a series of short videos that garnered a total exposure of 10.75 million and a reading volume of 6.51 million during the Spring Festival[42]. - The company has established a new member marketing strategy, converting physical membership cards to electronic ones to facilitate communication and engagement with members[36]. Environmental and Social Responsibility - The company has faced administrative penalties for exceeding wastewater discharge limits, resulting in a fine of 30,000 yuan[82]. - The company has built a wastewater treatment facility and installed automatic monitoring equipment to ensure compliance with environmental standards[79]. - The company is committed to environmental protection, with several subsidiaries certified under ISO 14001 environmental management standards[83]. - The company is actively working to improve its environmental protection awareness and compliance with relevant laws and regulations[82]. - The company emphasizes social responsibility, focusing on food safety, environmental protection, and resource utilization[84]. - The company has implemented ISO 14001 environmental management system certification across 4 enterprises and its headquarters, enhancing its commitment to environmental protection[85]. - The company has invested in improving technology to reduce energy consumption and emissions[85]. Corporate Governance and Structure - The company has established a corporate governance structure including a shareholders' meeting, board of directors, and supervisory board[176]. - The company’s accounting period follows the calendar year, from January 1 to December 31[183]. - The company’s business cycle is 12 months, indicating a focus on annual operational planning[184]. - The company has a consolidated financial statement scope that includes the parent company and 34 subsidiaries, with one subsidiary being removed and one added compared to the previous year[177]. - The financial statements are prepared based on the accrual basis of accounting and comply with the accounting standards issued by the Ministry of Finance[178].

Financial Performance - The company's operating revenue for Q1 2021 was ¥205,652,008.01, representing a 14.09% increase compared to ¥180,258,042.16 in the same period last year[7]. - The net profit attributable to shareholders was -¥47,085,212.75, an improvement of 46.80% from -¥88,500,985.00 year-on-year[7]. - The basic earnings per share improved to -¥0.1530, a 46.67% increase from -¥0.2869 in the same period last year[7]. - The weighted average return on equity was -4.00%, an improvement of 2.07% from -6.07% year-on-year[7]. - The company achieved a sales revenue of 205.65 million RMB in Q1, representing a year-on-year growth of 14.09%[17]. - The net profit attributable to shareholders was -47.09 million RMB, a year-on-year improvement of 46.80%[17]. - The total comprehensive income for the first quarter was a loss of CNY 50,998,071.22, compared to a loss of CNY 96,409,220.05 in the previous year[47]. - The operating profit for the first quarter was a loss of CNY 51,207,630.75, improved from a loss of CNY 94,488,581.95 in the previous year[46]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥47,679,203.10, which is a 12.40% improvement compared to -¥54,427,608.92 in the previous year[7]. - Cash and cash equivalents increased by 77.11% to 457.18 million RMB compared to the end of 2020, primarily due to net cash inflows from investment activities[19]. - The company reported a total cash balance of approximately ¥471.96 million as of March 31, 2021, compared to ¥223.87 million at the end of 2020, indicating a significant increase of 111.1%[36]. - The total cash inflow from investment activities was 323,859,994.18 CNY, significantly higher than 1,950.00 CNY in the previous year, marking a substantial increase[54]. - The net cash flow from investment activities was 311,014,540.16 CNY, compared to -385,225,736.78 CNY in the same period last year, reflecting a turnaround in investment performance[54]. - The total cash and cash equivalents at the end of Q1 2021 were 457,180,427.44 CNY, up from 258,134,318.83 CNY at the end of Q1 2020, representing a 77.1% increase[55]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,876,397,302.07, reflecting a 7.65% increase from ¥1,743,057,709.83 at the end of the previous year[7]. - The net assets attributable to shareholders decreased by 6.27% to ¥1,139,943,183.86 from ¥1,216,235,240.09 at the end of the previous year[7]. - Total liabilities increased to CNY 688,800,710.06 from CNY 475,256,203.12[39]. - Total assets as of March 31, 2021, were CNY 1,990,080,026.19, down from CNY 2,020,735,550.00 at the end of 2020[41]. - Owner's equity decreased from CNY 1,546,785,361.74 to CNY 1,540,986,730.28, a decline of CNY 5,798,631.46[66]. - The company reported a total current asset of CNY 695,355,957.00[65]. - The company’s total non-current liabilities increased from CNY 17,360,512.30 to CNY 59,742,929.16, an increase of CNY 42,382,416.86[65]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,744[11]. - The largest shareholder, Beijing Capital Tourism Group, holds 43.67% of the shares, totaling 134,691,476 shares[11]. - The company repurchased 1,542,367 shares, accounting for 0.5% of the total share capital, with a total expenditure of approximately 15.37 million RMB[22]. Operational Highlights - Non-dine-in business sales accounted for nearly 20% of total sales in Q1, driven by the launch of various family banquet packages during the Spring Festival[16]. - The company launched new products including the IP character "Meng Bao Ya" ice cream and roasted hawthorn snacks, which are being sold through multiple channels[16]. - The average daily customer count at the Universal Studios partner restaurant project reached 2,000 since its launch on February 1[16]. - The company reduced sales expenses by 60.61% to 8.44 million RMB, reflecting cost-cutting measures[19]. - The company is enhancing its group management capabilities by restructuring its headquarters to improve efficiency[16]. Financial Management and Strategy - The company has no securities or derivative investments during the reporting period, indicating a conservative investment strategy[25][24]. - The company has engaged in entrusted financial management with a total amount of ¥32 million, all sourced from its own funds[27]. - The company has not forecasted any significant changes in net profit for the upcoming reporting period[26]. - The company has not reported any expected impairments or risks related to entrusted financial management[29]. - The company implemented a new leasing standard, resulting in significant changes in long-term receivables and lease liabilities[18].

Financial Performance - The company's operating revenue for 2020 was ¥783,317,921.52, a decrease of 49.99% compared to ¥1,566,318,940.67 in 2019[19]. - The net profit attributable to shareholders for 2020 was a loss of ¥261,861,440.90, representing a decline of 686.77% from a profit of ¥44,627,861.62 in 2019[19]. - The net cash flow from operating activities was negative at ¥150,966,203.04, a decrease of 320.36% compared to ¥68,510,033.50 in 2019[19]. - The basic earnings per share for 2020 was -¥0.8490, down 686.73% from ¥0.1447 in 2019[19]. - Total assets at the end of 2020 were ¥1,743,057,709.83, a decrease of 12.77% from ¥1,998,323,320.90 at the end of 2019[19]. - The net assets attributable to shareholders decreased by 19.01% to ¥1,216,235,240.09 from ¥1,501,657,733.58 in 2019[19]. - The company reported a significant decline in both revenue and profit due to the impact of external factors, which may affect future operations[5]. - The company reported a total revenue of 1.2 billion CNY for the fiscal year 2020, reflecting a year-on-year increase of 5%[186]. Operational Challenges - The company has faced challenges in project approvals due to changes in land use planning, affecting the progress of several construction projects[79]. - The company has implemented multiple measures to mitigate costs, but still faces significant pressure on cash flow due to ongoing fixed expenses such as labor and rent[79]. - The company has reported a significant decline in sales due to the impact of COVID-19, with a notable drop in the restaurant and food business[79]. - The company anticipates ongoing impacts from the COVID-19 pandemic, affecting both its catering and food businesses[92]. - The company has not achieved expected returns from the "Jingdian Food" outlet construction project due to market changes[79]. Strategic Initiatives - The company plans to focus on enhancing its product and service offerings, aiming to create a new pattern of "product + service + scene" in its business strategy[29]. - The company aims to enhance food research and development, leveraging its brand and culinary skills to replicate its restaurant business quickly[90]. - The company is expanding into the group meal sector with the launch of a restaurant project at Universal Studios Beijing, which began trial operations on January 15, 2021[42]. - The company has established a strategic positioning as a leading diversified catering group in China, with a focus on traditional and innovative dining experiences[29]. - The company plans to adjust its store opening model, with new store areas generally controlled at around 2,000 square meters, focusing on smaller store formats and refined dishes[83]. Cost Management - The company reduced overall costs by 29% year-on-year through strict control of expenses and effective utilization of tax incentives and government subsidies[43]. - The company reported a total sales expense of ¥63,943,883.46, a decrease of 90.50% compared to ¥673,405,624.32 in 2019, primarily due to cost-cutting measures during the pandemic[57]. - The company has faced rising costs in labor, rent, and ingredients, prompting the company to optimize its business model[93]. Research and Development - Research and development expenses increased by 40.66% to ¥1,523,107.96, reflecting a rise in R&D activities[57]. - The company aims to enhance research and development in its food business, particularly in vacuum-packed duck products and other specialty foods[29]. - The company introduced 8 new duck snack products targeting young consumers and e-commerce channels, alongside traditional Beijing snacks[58]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company has adhered to its profit distribution policy in line with its three-year shareholder return plan (2019-2021)[99]. - The company has committed to ensuring fair market practices in related transactions to protect minority shareholders[105]. - The company has maintained a good integrity status with no significant debts or court judgments unfulfilled[135]. Market Environment - The company has reported that the market environment for high-end dining has shifted, necessitating a strategic pivot towards mass-market consumption[79]. - The total revenue of the national catering industry in 2020 was RMB 39,527 billion, a year-on-year decrease of 16.6%[88]. - The restaurant industry is expected to achieve stable and positive growth in 2021, driven by domestic demand and consumption recovery[89]. Digital Transformation - The company emphasizes digital transformation and operational efficiency improvements as part of its future growth strategy[29]. - The management team emphasized the importance of digital transformation, with a target to increase online sales by 30%[186]. - The company is committed to improving digital operations by upgrading management information systems and enhancing customer interaction through online platforms[92]. Employee Management - The total number of employees in the company is 3,584, with 1,346 in the parent company and 2,238 in major subsidiaries[192]. - The company has established a salary management mechanism linking employee salary increases to business performance, enhancing employee motivation and corporate cohesion[194]. - The company focuses on training frontline employees to improve vocational skills, with an emphasis on management and service quality[195]. Corporate Social Responsibility - The company has invested over 200,000 RMB in pandemic prevention materials to ensure employee safety during the COVID-19 outbreak[150]. - The company actively participated in social responsibility initiatives, including providing meals to hospitals during the pandemic[150]. - The company has achieved ISO 14001 environmental management system certification for 4 of its enterprises and its headquarters[152].

Financial Performance - Operating revenue for the current period was ¥203,015,161.85, a decrease of 53.08% year-on-year[8] - Net profit attributable to shareholders was -¥53,782,898.08, a decrease of 364.60% year-on-year[8] - Basic earnings per share were -¥0.1744, a decrease of 364.64% year-on-year[8] - The company’s operating profit for the first nine months was a loss of RMB 217.94 million, a decline of 376.07% compared to a profit of RMB 78.94 million in the same period of 2019[18] - The net profit for Q3 2020 was a loss of CNY 59,456,255.96, contrasting with a profit of CNY 21,507,434.85 in Q3 2019[48] - The total comprehensive income for the quarter was -CNY 22,213,216.73, compared to CNY 29,686,666.65 in the previous year[53] - The net profit for the quarter was a loss of CNY 22,213,216.73, down from a profit of CNY 29,686,666.65 in the previous year[52] - The total comprehensive income attributable to the parent company was -CNY 53,782,898.08, compared to CNY 20,325,813.24 in the previous year[52] Assets and Liabilities - Total assets decreased by 7.90% to ¥1,840,500,640.04 compared to the end of the previous year[8] - The company's current assets decreased to CNY 808,693,408.61 from CNY 903,621,401.24, reflecting a decline of approximately 10.5%[38] - The total liabilities increased to CNY 504,205,229.66 from CNY 423,398,286.63, indicating an increase of about 19.1%[40] - The company's total liabilities were CNY 442,253,191.80, compared to CNY 412,857,379.85 in the previous year[44] - The company's equity remained stable with total equity at CNY 1,336,295,410.38 as of September 30, 2020[40] - The equity attributable to shareholders of the parent company decreased to CNY 1,573,611,443.57 from CNY 1,669,078,554.15[44] Cash Flow - Cash flow from operating activities was -¥1,092,498.56, a decrease of 101.46% year-on-year[8] - Cash flow from operating activities showed a net outflow of CNY 101.96 million, compared to a net inflow of CNY 84.66 million in the previous year[63] - The cash received from operating activities was ¥142,551,647.68, a decrease of approximately 73% compared to ¥532,882,839.27 in the previous period[65] - Total cash inflow from investment activities was ¥820,178,003.04, while cash outflow was ¥1,079,662,137.54, resulting in a net cash flow of -¥259,484,134.50 from investment activities[67] - The total cash and cash equivalents at the end of the period decreased to ¥167,258,107.91 from ¥430,609,901.03 at the end of the previous period[67] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,061[12] - The largest shareholder, Beijing Capital Tourism Group, held 43.67% of the shares[12] - The controlling shareholder, Beijing Capital Tourism Group, completed a share buyback plan, acquiring 3,084,702 shares, representing 1% of the company's total share capital[21] - The company has repurchased 70,000 shares, accounting for 0.0227% of the total share capital, with a total expenditure of RMB 755,290[23] Research and Development - Research and development expenses increased by 45.14% to RMB 1.12 million, reflecting increased investment in R&D during the reporting period[18] - Research and development expenses for the quarter were CNY 306,103.20, a decrease from CNY 393,889.00 in the previous year[51] - Research and development expenses for the period were CNY 0.92 million, slightly up from CNY 0.77 million in the previous year[58] Investment Activities - The company has invested RMB 69 million in bank wealth management products using its own funds and RMB 38 million using raised funds[28] - The expected annualized return on the structured deposit from Huaxia Bank is 3.48%[28] - The company reported investment income of CNY 48.85 million, down from CNY 90.94 million in the previous year[58] Financial Adjustments and Compliance - The company adjusted its financial statements in accordance with new revenue and leasing standards effective from January 1, 2020[68] - The third quarter report was not audited, indicating preliminary financial results[78] - There were no violations regarding external guarantees during the reporting period[32]