Financial Performance - The company's revenue for the first quarter was CNY 538.63 million, representing a year-on-year increase of 4.14% compared to CNY 517.20 million in the same period last year[4]. - Net profit attributable to shareholders decreased by 29.94% to CNY 91.75 million from CNY 130.97 million in the previous year[4]. - The net profit margin decreased by 30.18% year-on-year, influenced by changes in logistics costs and increased expenses related to equity incentives and employee compensation[9]. - Total operating revenue for the current period reached ¥538,629,449.16, an increase of 4.1% compared to ¥517,201,636.03 in the previous period[19]. - Operating profit decreased to ¥119,072,144.78, down 29.2% from ¥168,205,448.06 in the previous period[20]. - Net profit for the current period was ¥91,280,165.77, a decline of 30.2% compared to ¥130,742,852.44 in the previous period[20]. - The total comprehensive income attributable to the parent company was CNY 91,754,943.09, down from CNY 130,970,168.73 in the previous period, representing a decrease of approximately 30%[21]. - Basic and diluted earnings per share were both CNY 0.12, compared to CNY 0.17 in the previous period, indicating a decline of about 29.41%[21]. Cash Flow - The net cash flow from operating activities dropped significantly by 97.60%, amounting to CNY 7.06 million compared to CNY 294.22 million in the same period last year[4]. - Cash inflows from operating activities totaled CNY 675,815,167.87, compared to CNY 725,823,728.71 in the previous period, showing a decline of about 6.9%[23]. - Cash outflows for operating activities were CNY 668,754,931.46, up from CNY 431,599,604.72 in the previous period, indicating an increase of approximately 55%[23]. - The net cash flow from investing activities was -CNY 102,297,804.18, compared to -CNY 519,898,113.67 in the previous period, showing an improvement of about 80.30%[24]. - The net cash flow from financing activities was CNY 67,897,730.65, with cash inflows from financing activities amounting to CNY 69,023,500.00[24]. - The ending cash and cash equivalents balance was CNY 2,300,715,808.07, compared to CNY 1,274,107,459.12 in the previous period, reflecting an increase of approximately 80.25%[24]. - The company received CNY 12,788,426.28 in cash related to operating activities, significantly higher than CNY 5,883,543.77 in the previous period, representing an increase of about 117.00%[23]. Assets and Liabilities - The company's total assets increased by 0.66% to CNY 5.68 billion from CNY 5.64 billion at the end of the previous year[4]. - Total current assets rose from ¥2,813,498,135.22 to ¥2,853,135,167.29, an increase of about 1.4%[16]. - Total liabilities decreased to ¥1,789,233,921.71 from ¥1,849,088,381.04 in the previous period[18]. - The equity attributable to shareholders of the parent company increased to ¥3,888,576,245.70 from ¥3,790,764,957.66 in the previous period[18]. Inventory and Receivables - Inventory balance increased by 46.71% compared to the end of the previous year, primarily due to an increase in raw materials and semi-finished products for the liquor business[7]. - Accounts receivable decreased from ¥164,799,524.35 to ¥135,521,194.30, reflecting a reduction of approximately 17.8%[16]. - Inventory increased significantly from ¥184,103,543.74 to ¥270,090,882.29, representing an increase of approximately 46.8%[16]. Shareholder Information - Total number of common shareholders at the end of the reporting period was 39,053[11]. - The largest shareholder, Liu Xiaodong, holds 40.48% of shares, totaling 303,991,787 shares[11]. - Liu Xiaodong and Liu Xiaojun are identified as related parties, being brothers[12]. Research and Development - Research and development expenses increased by 33.22% compared to the previous year, mainly due to new equity incentive costs and increased employee compensation[9]. - Research and development expenses rose to ¥17,583,277.71, an increase of 33.8% from ¥13,198,700.16 in the previous period[20]. Other Income and Expenses - Other business income grew by 92.89% year-on-year, attributed to the addition of new business projects[8]. - Total operating costs increased to ¥421,264,680.84, up 20.3% from ¥350,320,546.29 in the previous period[19]. - The company reported a significant increase in sales expenses, which reached ¥137,755,373.67, up 17.6% from ¥117,121,028.98 in the previous period[20]. - Deferred income decreased to ¥18,430,207.87 from ¥28,990,321.33 in the previous period[18].

Financial Performance - The company's operating revenue for 2021 was ¥2,594,357,487.69, representing a 34.66% increase compared to ¥1,926,643,196.25 in 2020[16]. - The net profit attributable to shareholders for 2021 was ¥666,063,833.97, a 24.38% increase from ¥535,507,699.76 in 2020[16]. - The net profit after deducting non-recurring gains and losses was ¥629,555,819.79, up 36.63% from ¥460,761,592.65 in 2020[16]. - The net cash flow from operating activities for 2021 was ¥869,213,520.70, an increase of 20.16% compared to ¥723,366,906.29 in 2020[16]. - The total assets at the end of 2021 were ¥5,640,316,700.92, reflecting a 45.11% increase from ¥3,886,865,771.98 at the end of 2020[16]. - The net assets attributable to shareholders at the end of 2021 were ¥3,790,764,957.66, a 17.86% increase from ¥3,216,299,711.48 at the end of 2020[17]. - The basic earnings per share for 2021 was ¥0.89, up 21.92% from ¥0.73 in 2020[16]. - The weighted average return on equity for 2021 was 19.25%, down from 23.82% in 2020, a decrease of 4.57%[16]. - The company reported a total of ¥36,508,014.18 in non-recurring gains for 2021, compared to ¥74,746,107.11 in 2020[22]. Market Position and Competition - The pre-mixed cocktail industry is experiencing intensified competition, with new entrants increasing market pressure, although the company remains a leading player in the sector[5]. - The company is committed to expanding its market presence and product offerings to mitigate risks associated with industry competition[5]. - The pre-mixed cocktail segment accounted for 89.31% of the company's main business revenue, while the flavor and fragrance segment contributed 10.69%[25]. - The brand "RIO" has become a leading brand in the pre-mixed cocktail industry, holding the largest market share in China[43]. - The competitive landscape of the ready-to-drink cocktail industry is intensifying, with increasing participation from various enterprises, necessitating a focus on financial strength and brand influence[94]. Product Development and Innovation - The company plans to enhance its core competitiveness in pre-mixed cocktails by improving management, innovating product lines, and strengthening brand development[5]. - The company has invested in R&D to explore new product lines, including functional series and seasonal flavors, enhancing its competitive edge[44]. - The company is currently developing new products, including pre-mixed cocktails and food flavorings, to enhance its technological innovation capabilities[69]. - The company launched the new sub-brand "RIO Refreshing," which quickly became the third-largest contributor to sales, enhancing market penetration[49]. - The company plans to further invest in sub-brands to ensure each can independently drive brand growth, reflecting a strategic focus on a multi-brand approach[90]. Operational Efficiency and Management - The company has established a quality assurance system that meets international standards, implementing strict measures across all operational stages[5]. - The company maintains a comprehensive food safety and quality management system, ensuring compliance with industry standards[45]. - The company is focusing on digital transformation and restructuring its marketing organization to adapt to changing consumer behaviors and enhance operational efficiency[50]. - The company has established a consumer data platform (CDP) to improve marketing efficiency, reaching over 20 million users with daily active users in the thousands[51]. - The company has implemented a performance-based compensation policy, linking employee salaries to market conditions and individual performance[133]. Shareholder and Governance - The board of directors has approved a profit distribution plan, including a capital reserve increase of 4 shares for every 10 shares held[6]. - The company reported a total shareholding of 303,991,787 shares for Chairman Liu Xiaodong after a distribution of rights, increasing from 217,136,991 shares[109]. - The company has maintained a fully independent operational structure, with no overlap in business, personnel, assets, or financials with its controlling shareholder[105]. - The company is committed to maintaining transparency and governance standards through regular updates on management changes and financial performance[110]. - The company has a cash dividend policy that requires a minimum of 20% of profits to be distributed as cash dividends when profits are positive and significant capital expenditures are planned[137]. Environmental and Social Responsibility - The company has achieved LEED Silver certification for its Chengdu and Foshan RTD plants, reflecting its commitment to sustainable development and energy efficiency[147]. - The company has implemented measures to reduce carbon emissions and aims for carbon neutrality as a long-term goal[147]. - The company has actively engaged with investors through various communication channels, ensuring transparency and protecting shareholder rights[149]. - The company has recycled by-products from production, converting them into DDGS (distillers dried grains with solubles) animal feed, promoting a circular economy[149]. - The company actively participated in charitable activities, donating school supplies to students in remote poverty-stricken areas[157]. Risks and Challenges - The ongoing COVID-19 pandemic poses risks to the company's operations, with a focus on monitoring the situation and ensuring orderly production[6]. - The company acknowledges potential risks related to food safety and increasing competition in the ready-to-drink cocktail industry, emphasizing the importance of quality management[101]. - The company has adjusted its short-term financial expectations due to ongoing regional pandemic impacts and macroeconomic pressures, focusing on long-term strategies and collaboration with major platforms[89]. - The company acknowledges the potential impact of stock market fluctuations on its share price, influenced by various external factors[6]. Investment and Financial Strategy - The company completed a major equity investment by acquiring Shanghai Mogu Industrial Co., Ltd. for CNY 448 million, resulting in a 100% ownership stake[78]. - The company raised a total of CNY 285.40 million through various fundraising methods, with CNY 26.53 million utilized by the end of the reporting period[80]. - The company has a remaining balance of CNY 177.88 million in unutilized fundraising, which is planned for future project investments[80]. - The company has implemented a strategy to enhance shareholder value through capital restructuring and bond issuance[177]. - The company plans to continue expanding its market presence and exploring new investment opportunities in the coming years[177].

Financial Performance - The company's revenue for Q3 2021 was ¥702,812,469.92, representing a 30.98% increase year-over-year, and a total revenue of ¥1,914,562,133.27 for the year-to-date, up 44.51% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2021 was ¥194,384,296.13, a 13.54% increase year-over-year, with a year-to-date net profit of ¥563,085,615.63, up 46.96%[4] - The net profit after deducting non-recurring gains and losses for Q3 2021 was ¥190,771,688.57, a 43.57% increase year-over-year, with a year-to-date figure of ¥531,935,321.62, up 69.40%[4] - Total operating revenue for the period reached CNY 1,914,562,133.27, an increase of 44.4% compared to CNY 1,324,883,638.18 in the previous period[21] - The company's net profit attributable to shareholders increased to CNY 606,674,252.10, compared to CNY 311,004,506.47 in the previous year, reflecting a growth of 95%[20] - The net profit for Q3 2021 was CNY 562,176,297.01, an increase of 46.9% compared to CNY 383,146,896.92 in Q3 2020[22] - The total profit for the quarter reached CNY 712,007,169.53, up from CNY 484,009,131.85, reflecting a growth of 47.0% year-over-year[22] - Operating profit increased to CNY 710,044,283.28, compared to CNY 483,369,346.47 in the same period last year, marking a rise of 46.9%[22] Cash Flow and Assets - The company's cash flow from operating activities for the year-to-date was ¥688,782,626.31, an increase of 30.38% compared to the previous year[4] - The company's cash and cash equivalents as of September 30, 2021, amount to RMB 1,211,629,251.84, a decrease from RMB 1,502,990,826.77 as of December 31, 2020[17] - Cash flow from operating activities was CNY 688,782,626.31, up from CNY 528,287,705.43, indicating a growth of 30.4%[25] - Total cash inflow from operating activities was CNY 2,434,246,085.93, compared to CNY 1,702,209,567.49 in the previous year, reflecting a growth of 43.0%[24] - Cash outflow for operating activities totaled CNY 1,745,463,459.62, an increase from CNY 1,173,921,862.06, which is a rise of 48.7%[25] - The ending balance of cash and cash equivalents was CNY 1,192,615,640.33, compared to CNY 572,497,686.25 at the end of Q3 2020, showing an increase of 108.5%[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,252,106,208.16, a 9.40% increase from the end of the previous year[4] - Total liabilities increased to CNY 738,993,862.40 from CNY 668,513,853.23, reflecting a rise of 10.0%[19] - The equity attributable to shareholders at the end of the reporting period was ¥3,511,969,457.11, reflecting a 9.19% increase from the end of the previous year[4] - The equity attributable to shareholders rose to CNY 3,511,969,457.11, up from CNY 3,216,299,711.48, showing an increase of 9.2%[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,783, with the largest shareholder, Liu Xiaodong, holding 40.54% of shares, amounting to 303,991,787 shares[11] - Liu Xiaodong has 75,997,947 unrestricted shares, while Liu Haibin and Liu Xiaojun hold 44,401,284 and 27,664,000 unrestricted shares respectively[13] - The top ten shareholders include various investment funds and individuals, with the largest institutional investor holding 2.73% of shares[12] - Liu Xiaodong and Liu Xiaojun are identified as brothers, indicating a familial relationship among major shareholders[13] Business Operations and Investments - The company's main business revenue from pre-mixed cocktails for the first three quarters was ¥168,599.67 million, a 42.22% increase year-over-year[8] - The company's operating costs increased by 57.24% year-over-year, primarily due to the growth in sales volume[10] - The company plans to continue rapid growth in operating performance for the remainder of 2021[8] - The company’s wholly-owned subsidiary, Shanghai Baxs Wine Co., Ltd., acquired 100% equity of Shanghai Mogong Industrial Co., Ltd. for RMB 448 million during the reporting period[15] - The company is progressing with the "Whiskey Aging Project" and has signed a construction contract with Shanghai Kangxia Construction Development Co., Ltd.[14] - The company is in the process of issuing 11.28 million convertible bonds, with a total amount of RMB 1,128,000,000[16] - The company has reported normal progress on its investment projects as of the report date[15] Research and Development - The company reported a significant increase in research and development expenses to CNY 47,439,813.56, compared to CNY 44,367,016.40 in the previous period, indicating a focus on innovation[21] Earnings Per Share - Basic and diluted earnings per share were both CNY 0.75, compared to CNY 0.53 in Q3 2020, representing an increase of 41.5%[23] Audit Information - The company did not undergo an audit for the Q3 report[26]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,211,749,663.35, representing a 53.72% increase compared to ¥788,292,876.30 in the same period last year[13]. - Net profit attributable to shareholders was ¥368,701,319.50, up 73.94% from ¥211,964,357.54 year-on-year[13]. - The net profit after deducting non-recurring gains and losses was ¥341,163,633.05, an increase of 88.35% from ¥181,133,531.94 in the previous year[13]. - The net cash flow from operating activities was ¥431,873,305.20, reflecting a 56.49% increase compared to ¥275,977,447.32 in the same period last year[13]. - The overall revenue for the company was ¥1,194,486,974.28, with a gross margin of 67.26%, indicating a year-on-year revenue increase of 51.99%[28]. - The total revenue for the pre-mixed cocktail business reached ¥1,056,488,850.12, with a gross margin of 67.38%, reflecting a year-on-year revenue increase of 50.56%[28]. - The total revenue from the flavor and fragrance business was ¥137,998,124.16, with a gross margin of 66.32%, showing a year-on-year revenue increase of 63.92%[28]. - The company achieved a revenue of CNY 1,211,749,663.35, representing a year-on-year increase of 53.72% due to significant sales growth in the ready-to-drink cocktail and flavoring businesses[43]. - The ready-to-drink cocktail segment generated a revenue of CNY 105,648.89 million, up 50.56% year-on-year, with a net profit of CNY 26,806.80 million, reflecting a 71.86% increase[42]. Market Position and Strategy - The pre-mixed cocktail industry is experiencing intensified competition, with the company positioned as a leading player, leveraging its extensive experience in R&D, production, and sales to maintain its market share[5]. - The company plans to enhance its management and innovation capabilities, diversify its product offerings, and strengthen brand building to solidify its competitive edge in the pre-mixed cocktail market[5]. - The market share of the "RIO" pre-mixed cocktail brand continues to rise, establishing the company as a leading player in the domestic pre-mixed cocktail industry[20]. - The pre-mixed cocktail segment accounted for 88.45% of the company's main business revenue, while the flavor and fragrance segment contributed 11.55%[19]. - The company is actively monitoring the evolving market landscape and is prepared to adapt its strategies in response to competitive pressures and market expansion opportunities[5]. - The company has established four production bases in Shanghai, Tianjin, Chengdu, and Foshan for the production of pre-mixed cocktails[23]. - The company has been recognized as one of the top 100 technology enterprises in China's light industry and one of the top ten enterprises in the flavor and fragrance industry[22]. Quality Management and Safety - The company reported a significant focus on food safety management, establishing a quality assurance system that complies with international standards, ensuring product safety and quality throughout the supply chain[4]. - The company has established a robust quality management system to mitigate potential food safety risks associated with its products[4]. - The company has not faced any major quality disputes since its establishment, reflecting its commitment to quality management and consumer health[4]. - The company is committed to maintaining transparency and accuracy in its financial reporting, as affirmed by its management team[4]. - The company has implemented a comprehensive quality management system, achieving certifications such as ISO9001 and FSSC22000, ensuring food safety and quality control[40]. - The company maintains a strong focus on quality management, adhering to international standards to ensure product safety and quality[60]. Investment and Financial Strategy - The company does not plan to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment strategies[5]. - The company plans to issue convertible bonds totaling up to CNY 128,000 million to fund the maturation project for malt whiskey[42]. - The company invested ¥619,584,381.61 during the reporting period, a significant increase of 521.16% compared to ¥99,746,830.18 in the previous year[53]. - The company has not engaged in any securities or derivative investments during the reporting period[55]. - The company plans to continue its investment strategy without distributing cash dividends or increasing share capital from reserves for the half-year period[64]. Shareholder and Equity Information - The total number of shares increased from 535,852,426 to 749,785,122, representing a 39.93% increase[82]. - The basic earnings per share (EPS) decreased from 1.03 RMB to 0.73 RMB after the share change, a decline of 29.13%[83]. - The diluted EPS also decreased from 1.03 RMB to 0.73 RMB, reflecting the same percentage decline[83]. - The net asset value per share dropped from 6.00 RMB to 4.29 RMB, a decrease of 28.5%[83]. - The total number of unrestricted shares increased from 348,700,333 to 512,092,162, which is a 46.9% increase[82]. - The company distributed a cash dividend of 5.00 RMB for every 10 shares held, alongside a capital reserve conversion of 4 additional shares for every 10 shares[83]. - The total number of common shareholders at the end of the reporting period was 21,860, with major shareholders holding significant stakes[88]. - Liu Xiaodong, the chairman and general manager, holds 40.54% of the shares, totaling 303,991,787 shares, with a pledge of 26,110,000 shares[90]. Cash Flow and Liquidity - The company reported a net increase in cash and cash equivalents of -¥455,215,980.49, a decline of 265.19% from the previous year[45]. - The company's cash and cash equivalents as of June 30, 2021, were approximately ¥1,053 million, down from ¥1,503 million at the end of 2020[97]. - The company reported a cash balance of ¥1,044,427,321.97 at the end of the period, down from ¥761,334,816.15 at the end of the first half of 2020[112]. - The company reported a significant increase in cash received from investment income, totaling ¥300,000,000.00, compared to no income reported in the previous year[113]. - The cash flow from investment activities showed a net outflow of ¥619,584,381.61, significantly higher than the outflow of ¥99,656,130.18 in the first half of 2020[112]. Regulatory and Compliance - The financial report for the first half of 2021 was not audited[96]. - The company has not reported any significant events affecting its ability to continue as a going concern[129]. - The company follows specific accounting policies for revenue recognition based on its operational characteristics[130]. - The company has not reported any changes in accounting policies or prior period error corrections during the current period[116]. - The company has specific disclosure requirements under the Shenzhen Stock Exchange guidelines for food and beverage manufacturing[196]. Research and Development - Research and development expenses amounted to ¥28,501,695.96, a decrease of 4.92% compared to the previous year[45]. - The company is exploring new product lines, including functional and seasonal flavor series, to meet evolving consumer preferences[39]. - The company has not reported any new product launches or technological developments in this period[123].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 517,201,636.03, representing a 52.88% increase compared to CNY 338,312,810.29 in the same period last year[3] - Net profit attributable to shareholders for Q1 2021 was CNY 130,970,168.73, up 112.15% from CNY 61,734,861.46 year-on-year[3] - Basic earnings per share for Q1 2021 were CNY 0.24, doubling from CNY 0.12 in the same quarter last year[3] - The company achieved operating revenue of CNY 517.20 million, a year-on-year increase of 52.88%[10] - Net profit attributable to shareholders reached CNY 130.97 million, up 112.15% year-on-year[10] - The pre-mixed cocktail business generated main business revenue of CNY 457.68 million, reflecting a growth of 51.15%[10] - The company reported a profit before tax of ¥168,353,688.97, up from ¥78,960,359.16, reflecting strong operational performance[30] - The company achieved a comprehensive income total of ¥130,742,852.44, compared to ¥61,727,136.87 in the previous period, showcasing overall growth[31] Cash Flow - The net cash flow from operating activities reached CNY 294,224,123.99, a significant increase of 199.66% compared to CNY 98,187,491.97 in the previous year[3] - The company's cash flow from operating activities increased significantly to CNY 294.22 million, compared to CNY 98.19 million in the same period last year[13] - Cash inflow from operating activities amounted to CNY 725,823,728.71, up from CNY 461,160,754.67, indicating a growth of about 57.4% year-over-year[35] - The net cash flow from operating activities was CNY 294,224,123.99, significantly higher than CNY 98,187,491.97 in the previous year, reflecting an increase of approximately 199.5%[36] - Cash outflow from operating activities totaled CNY 431,599,604.72, compared to CNY 362,973,262.70, which is an increase of about 18.9%[36] - The net cash flow from investing activities was CNY -519,898,113.67, compared to CNY -35,760,497.46, indicating a decline in cash flow of approximately 1,353.5%[36] - The net cash flow from financing activities was CNY 100,000,000.00, unchanged from the previous period[37] - The company reported a net decrease in cash and cash equivalents of CNY -225,535,843.34 for the quarter, compared to an increase of CNY 162,579,377.38 in the same period last year[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,200,569,826.00, an increase of 8.07% from CNY 3,886,865,771.98 at the end of the previous year[3] - Non-current assets totaled CNY 2,571,868,265.06, an increase from CNY 2,060,072,572.17, reflecting a growth of about 24.8%[22] - Current liabilities rose to CNY 833,737,393.10, compared to CNY 650,519,704.86, indicating an increase of approximately 28.1%[23] - Total liabilities reached CNY 851,475,054.81, up from CNY 668,513,853.23, marking a growth of around 27.4%[23] - Owner's equity increased to CNY 3,349,094,771.19 from CNY 3,218,351,918.75, showing a rise of about 4.07%[24] - The company reported a significant increase in accounts payable, which rose to CNY 432,832,425.67 from CNY 370,777,789.25, a growth of approximately 16.7%[22] Shareholder Information - The top shareholder, Liu Xiaodong, holds 40.52% of the shares, with a total of 217,136,991 shares[6] - The total number of ordinary shareholders at the end of the reporting period was 16,231[6] Government Support and Expenses - The company received government subsidies amounting to CNY 764,922.92 during the reporting period[4] - The company reported a 96.77% increase in taxes and surcharges, primarily due to higher consumption tax[12] - Tax expenses for the current period were ¥37,610,836.53, compared to ¥17,233,222.29 in the previous period, indicating higher profitability[30] Future Outlook - The company expects continued rapid growth in operating performance for the first half of 2021[10] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] Research and Development - Research and development expenses decreased slightly to ¥13,198,700.16 from ¥14,804,803.77, indicating a focus on cost management[29] Audit Status - The company has not undergone an audit for the first quarter report[41]

Financial Performance - The company's operating revenue for 2020 was CNY 1,926,643,196.25, representing a 31.20% increase compared to CNY 1,468,439,608.33 in 2019[13]. - The net profit attributable to shareholders for 2020 was CNY 535,507,699.76, a significant increase of 78.31% from CNY 300,330,286.74 in 2019[13]. - The net profit after deducting non-recurring gains and losses was CNY 460,761,592.65, up 65.40% from CNY 278,580,629.87 in 2019[13]. - The company's cash flow from operating activities for 2020 was CNY 723,366,906.29, an increase of 36.36% compared to CNY 530,492,224.04 in 2019[13]. - The basic earnings per share for 2020 was CNY 1.03, a 77.59% increase from CNY 0.58 in 2019[13]. - The total assets at the end of 2020 were CNY 3,886,865,771.98, reflecting a 51.74% increase from CNY 2,561,519,233.85 at the end of 2019[13]. - The weighted average return on equity for 2020 was 23.82%, an increase of 8.74% from 15.08% in 2019[13]. - The total operating revenue for 2020 reached ¥1,926,643,196.25, an increase of approximately 31.2% compared to ¥1,468,439,608.33 in 2019[175]. - The total assets of the company as of December 31, 2020, amounted to ¥3,887,969,133.10, up from ¥2,427,181,708.00 in 2019, reflecting a growth of about 60.2%[174]. Dividend Distribution - The board of directors has approved a profit distribution plan, including a capital reserve conversion of 4 shares for every 10 shares held[4]. - The company plans to distribute a cash dividend of 5.00 RMB per 10 shares for the 2020 annual profit distribution, totaling 267,415,870.00 RMB[91]. - In 2020, the cash dividend amount was CNY 578,685,048.40, representing 108.06% of the net profit attributable to ordinary shareholders[92]. - The total cash dividend, including other methods, was CNY 267,415,870.00, which accounted for 100% of the distributable profit[93]. Market Position and Competition - The pre-mixed cocktail industry is experiencing intensified competition, with new entrants affecting market share, but the company aims to enhance its core competitiveness through product innovation and brand building[3]. - The company plans to increase its product variety and optimize its product structure to maintain its leading position in the pre-mixed cocktail market[3]. - RIO's market share in the cocktail industry reached 84% in 2019, solidifying its position as the leading brand in China[22]. - The pre-mixed cocktail segment generated revenue of CNY 1,711.99 million, with a year-on-year growth of 33.82%[35]. Quality Management - The company has established a quality assurance system that meets international standards, implementing strict measures across all operational stages from procurement to sales[3]. - The company has maintained a strong quality management system, ensuring no major quality disputes have occurred since its establishment, despite potential food safety risks[3]. - The company has not faced significant quality issues, reflecting its commitment to food safety and consumer health[3]. - The company has established a comprehensive quality management system, certified by ISO9001 and FSSC22000[30]. Research and Development - Research and development expenses amounted to ¥63.83 million, a slight increase of 0.14% compared to the previous year[53]. - The number of R&D personnel increased by 16.67% to 119, with R&D personnel accounting for 7.34% of the total workforce[56]. - The company plans to explore new product lines, including functional series (such as zero-sugar and low-sugar options) and seasonal flavors, leveraging its R&D capabilities[28]. - The company aims to enhance its technological capabilities through ongoing research and development initiatives[191]. Cash Flow and Financing - The net cash flow from financing activities changed from a negative CNY 320.67 million in 2019 to a positive CNY 676.45 million in 2020, indicating a significant turnaround[59]. - The total cash inflow from financing activities was CNY 1,093.94 million in 2020, a 100% increase compared to the previous year[58]. - The ending balance of cash and cash equivalents increased to CNY 1.50 billion in 2020, compared to CNY 485.76 million at the end of 2019, marking a substantial increase of approximately 208.5%[185]. - The company raised CNY 990.92 million through a private placement in 2020, with CNY 72.89 million utilized by the end of the year, leaving a balance of CNY 919.69 million[70]. Strategic Initiatives - The company aims to enhance digital operational capabilities and accelerate the development of its main business, targeting sustained rapid growth in main business revenue for 2021[81]. - The company plans to strengthen product penetration across multiple channels, including offline retail, digital retail, and ready-to-drink channels, to adapt to changing consumer habits due to the pandemic[83]. - The company will expedite the construction of its vodka and whiskey factory and aging projects to reduce costs and ensure high-quality supply of base liquor for pre-mixed cocktails[83]. - The company has actively transformed offline retail channels towards new retail, optimizing resource allocation to improve efficiency and achieve steady growth[78]. Corporate Governance - The company has maintained a stable management team with no changes in the reporting period[133]. - The company operates independently from its controlling shareholder in terms of business, personnel, assets, organization, and finance[144]. - The company has established an independent financial accounting system and management procedures, with no shared bank accounts with the controlling shareholder[145]. - The audit opinion issued was a standard unqualified opinion, confirming that the financial statements fairly reflect the company's financial position as of December 31, 2020[158][159]. Social Responsibility - The company actively participated in charitable activities, donating educational supplies to students in remote areas during the reporting period[107]. - The company has implemented ISO45001 for occupational health and safety management, enhancing employee health and safety measures[106].

Financial Performance - Net profit attributable to shareholders increased by 86.47% to CNY 171,196,229.32 for the quarter[5] - Operating income for the quarter reached CNY 536,590,761.88, a year-on-year increase of 40.94%[5] - Basic earnings per share rose by 83.33% to CNY 0.33[5] - Year-to-date operating income reached CNY 1,324,883,638.18, a growth of 30.37% compared to the same period last year[5] - Year-to-date net profit attributable to shareholders was CNY 383,160,586.86, reflecting a 67.65% increase[5] - The company reported a total profit of ¥210,369,347.39 for Q3 2020, up from ¥118,514,338.27, an increase of 77.5% year-over-year[33] - The total comprehensive income for the period was ¥171,194,888.60, compared to ¥91,799,467.96 in the same period last year, showing an increase of 86.5%[35] - The net profit attributable to the parent company was ¥383,160,586.86, up 77.5% from ¥228,544,968.66 in the same period last year[42] - The total profit for the current period was ¥484,009,131.85, up from ¥295,483,387.43 in the previous period[40] Revenue and Costs - The main business revenue from pre-mixed cocktails in Q3 was CNY 48,377.26 million, up 45.31% year-on-year[12] - The company's operating revenue increased by 30.37% compared to the same period last year, mainly due to strong sales in the pre-mixed cocktail business[15] - Total operating revenue for Q3 2020 reached ¥536,590,761.88, a significant increase of 41.0% compared to ¥380,710,815.38 in the same period last year[31] - Total operating costs amounted to ¥933,250,930.10, which is a 23.0% increase from ¥759,238,002.04 in the previous period[39] - Total operating costs amounted to ¥377,530,789.17, up from ¥274,737,723.77, reflecting a year-over-year increase of 37.5%[32] Cash Flow and Assets - Cash flow from operating activities increased by 124.31% to CNY 252,310,258.11[5] - The company's net cash flow from operating activities increased from 299.51 million RMB to 528.29 million RMB during the reporting period, driven by growth in main business revenue and increased collections[16] - Cash and cash equivalents rose to CNY 572,498,508.00, compared to CNY 487,707,253.20, marking an increase of approximately 17.4%[25] - The total cash inflow from operating activities was ¥1,702,209,567.49, compared to ¥1,366,753,661.49 in the previous period, an increase of 24.5%[46] - The net cash flow from operating activities was ¥528,287,705.43, an increase from ¥299,513,715.38 in the previous period, reflecting a growth of 76.5%[47] Assets and Liabilities - Total assets increased by 6.62% to CNY 2,731,013,636.06 compared to the end of the previous year[5] - Current assets totaled CNY 886,504,699.67, an increase from CNY 809,437,708.46, reflecting a growth of about 9.5%[25] - Total liabilities rose to CNY 655,927,185.69, compared to CNY 558,310,502.00, indicating an increase of about 17.5%[27] - Owner's equity increased to CNY 2,075,086,450.37 from CNY 2,003,208,731.85, reflecting a growth of approximately 3.6%[28] - The company's accounts receivable decreased by 40.21% compared to the end of the previous year, primarily due to the collection of receivables during the reporting period[13] Expenses - The company's income tax expenses increased by 50.42% compared to the same period last year, reflecting enhanced profitability and increased total profits[15] - Research and development expenses rose to ¥14,389,701.90, compared to ¥4,983,104.20 in the previous year, reflecting a substantial increase of 187.5%[32] - The income tax expense for the current period was ¥100,862,234.93, compared to ¥67,052,179.55 in the previous period, reflecting higher profitability[40] - The company reported a significant increase in sales expenses, which totaled ¥345,401,417.07, compared to ¥305,862,936.68 in the previous period, suggesting aggressive market strategies[39] Other Financial Metrics - The weighted average return on equity was 7.80%, an increase of 3.26 percentage points year-on-year[5] - The company's other income increased by 148.07% compared to the same period last year, mainly due to the transfer of deferred income to other income[15] - The company's deferred income decreased by 71.68% compared to the end of the previous year, as deferred income was transferred to other income during the reporting period[13] - The company reported other income of ¥6,449,215.00, significantly higher than ¥736,152.42 in the previous period, showing an increase of 775.5%[44]

Financial Performance - The company's operating revenue for the reporting period was ¥788,292,876.30, representing a 24.03% increase compared to the same period last year [13]. - The net profit attributable to shareholders was ¥211,964,357.54, reflecting a 55.02% year-over-year growth [13]. - The net profit after deducting non-recurring gains and losses was ¥181,133,531.94, up by 54.33% from the previous year [13]. - The net cash flow from operating activities reached ¥275,977,447.32, an increase of 47.56% compared to the same period last year [13]. - The basic earnings per share rose to ¥0.41, a 57.69% increase year-over-year [13]. - The total assets at the end of the reporting period were ¥2,869,741,630.50, marking a 12.03% increase from the end of the previous year [13]. - The net assets attributable to shareholders increased to ¥2,213,100,942.77, up by 10.59% from the previous year [13]. - The pre-mixed cocktail business accounted for 89.29% of the company's main business revenue, indicating strong market positioning [19]. - The company achieved operating revenue of CNY 788.29 million, a year-on-year increase of 24.03% [30]. - The net profit attributable to shareholders reached CNY 211.96 million, reflecting a growth of 55.02% compared to the previous year [29]. Market Position and Competition - The pre-mixed cocktail industry is experiencing intensified competition, with new entrants affecting market share and performance, despite the company's leading position in technology and brand [4]. - The company aims to enhance its core competitiveness through improved management and innovation to maintain its market share in the pre-mixed cocktail sector [4]. - The market share of the "RIO" brand in the pre-mixed cocktail sector reached 84% in 2019, solidifying its leading position in the industry [20]. - The pre-mixed cocktail business generated revenue of CNY 701.71 million, up 27.68% year-on-year, with a net profit of CNY 155.98 million, an increase of 57.12% [29]. Quality Assurance and Safety - The company has established a quality assurance system that meets international standards, ensuring product safety and quality management across all operational stages [4]. - The company emphasizes the importance of food safety and consumer health in its product lines, which include pre-mixed cocktails and food flavorings [4]. - The company has not faced any major quality disputes since its establishment, indicating a strong operational quality management system [4]. - The company emphasizes quality assurance with ISO9001 and FSSC22000 systems in place to ensure food safety across its operations [27]. COVID-19 Impact and Response - The ongoing COVID-19 pandemic poses risks to production and operations, with the company committed to monitoring the situation and implementing necessary preventive measures [5]. - The company is closely monitoring the ongoing COVID-19 pandemic and its potential effects on production and operations [53]. - The company has implemented targeted marketing plans for niche markets and adapted its channel strategies in response to pandemic-related challenges [51]. Investment and Financial Management - The company is progressing with a non-public stock issuance to raise up to CNY 1.006 billion for whiskey aging projects [29]. - Cash and cash equivalents increased by CNY 273.63 million, a growth of 56.11%, primarily due to new bank loans and increased main business income [22]. - The company's construction in progress increased by CNY 38.07 million, a rise of 40.95%, mainly due to ongoing investments in the Bacchus (Chengdu) vodka project [22]. - The total committed investment for the Sichuan production plant project is CNY 350.29 million, with a cumulative investment of CNY 334.93 million, achieving 95.62% of the planned investment [42]. - The total committed investment for the Guangdong production plant project is CNY 400 million, with a cumulative investment of CNY 379.52 million, achieving 94.88% of the planned investment [42]. Shareholder Information - The company reported a total share capital of 519,802,650 shares as of June 30, 2020, with a cash dividend distribution of 6.00 RMB per 10 shares (including tax) to all shareholders [5]. - The total number of common shareholders at the end of the reporting period was 15,882 [71]. - Liu Xiaodong holds 41.77% of shares, totaling 217,136,991 shares, with 77,082,423 shares pledged [71]. - Liu Haibin holds 8.83% of shares, totaling 45,906,322 shares, with 15,860,000 shares pledged [71]. - Liu Xiaojun holds 3.80% of shares, totaling 19,760,000 shares [71]. Financial Reporting and Compliance - The company has a robust financial reporting framework, ensuring the accuracy and completeness of its financial statements [3]. - The company adheres to ISO14001 environmental management standards and has made improvements in environmental protection and compliance during the reporting period [63]. - The company confirms that there are no issues regarding its ability to continue as a going concern for the next 12 months from the reporting date [120]. - The company’s accounting policies and estimates are consistent with the requirements of the applicable accounting standards, ensuring accurate financial reporting [122]. Research and Development - The company’s research and development expenditure decreased by 11.11% to ¥29,977,314.50 [31]. - The company has been actively launching new products and upgrading existing product lines, enhancing market coverage and sales efforts [51]. Taxation and Regulatory Compliance - The corporate income tax rate applicable to the company is 15%, while several subsidiaries are subject to a higher rate of 25% [195]. - The company holds a high-tech enterprise certificate, allowing it to benefit from a reduced corporate income tax rate of 15% for the years 2017 to 2019 [197]. - The company has various tax rates for different types of taxes, including a value-added tax rate ranging from 1% to 16% depending on the goods and services [194].

Financial Performance - The company's operating revenue for Q1 2020 was ¥338,312,810.29, representing a 19.12% increase compared to ¥284,017,308.03 in the same period last year[4] - Net profit attributable to shareholders for Q1 2020 was ¥61,734,861.46, a 45.16% increase from ¥42,528,747.49 in the previous year[4] - The net profit after deducting non-recurring gains and losses was ¥56,081,101.20, up 46.58% from ¥38,258,829.03 year-on-year[4] - Basic earnings per share for Q1 2020 were ¥0.12, reflecting a 50.00% increase from ¥0.08 in the previous year[4] - The total operating income for Q1 2020 was CNY 78,839,098.55, an increase of 45.7% compared to CNY 54,034,464.94 in Q1 2019[26] - The net profit for Q1 2020 reached CNY 61,727,136.87, representing a 45.4% increase from CNY 42,457,817.46 in the same period last year[26] - The total comprehensive income attributable to the parent company's owners for Q1 2020 was CNY 61,734,861.46, compared to CNY 42,528,747.49 in Q1 2019, reflecting a growth of 45.0%[28] - The operating profit for Q1 2020 was CNY 78,839,098.55, which is a 45.7% increase from CNY 54,034,464.94 in Q1 2019[26] Cash Flow - The net cash flow from operating activities surged to ¥98,187,491.97, a remarkable increase of 973.11% compared to ¥9,149,778.42 in the same quarter last year[4] - Cash inflow from operating activities amounted to CNY 461,160,754.67, up from CNY 354,059,522.99, indicating a growth of about 30.2% year-over-year[32] - The company reported a net cash increase of CNY 162,579,377.38, contrasting with a net decrease of CNY 175,019,983.04 in the same period last year[34] - The company incurred a net cash outflow from investing activities of CNY 35,760,497.46, compared to CNY 83,844,995.23 in the previous year, indicating a reduction in cash outflow by approximately 57.4%[33] - The cash flow from financing activities resulted in a net inflow of CNY 100,000,000.00, contrasting with a net outflow of CNY 100,239,044.44 in the same period last year[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,708,691,810.06, a 5.75% increase from ¥2,561,519,233.85 at the end of the previous year[4] - The total assets as of March 31, 2020, amounted to CNY 2,432,594,026.10, slightly up from CNY 2,427,181,708.00 at the end of 2019[23] - The total liabilities increased to CNY 643,755,941.34 from CNY 558,310,502.00, indicating a rise of about 15.3%[21] - The total current liabilities amounted to CNY 580,190,804.70, up from CNY 494,498,028.53, indicating an increase of approximately 17.3%[21] - The non-current liabilities remained stable at CNY 63,565,136.64, slightly down from CNY 63,812,473.47[21] Shareholder Equity - Net assets attributable to shareholders increased to ¥2,062,871,446.69, up 3.08% from ¥2,001,136,585.23 at the end of the previous year[4] - The equity attributable to shareholders of the parent company rose to CNY 2,062,871,446.69 from CNY 2,001,136,585.23, reflecting an increase of approximately 3.1%[21] - The company reported a total equity of CNY 2,064,935,868.72, an increase from CNY 2,003,208,731.85, reflecting a growth of approximately 3.1%[21] Operational Highlights - The pre-mixed cocktail segment generated CNY 302.80 million in revenue, a growth of 26.55% compared to the previous year[10] - The company's tax expenses increased by CNY 8.51 million, reflecting an 89% rise due to higher sales[11] - Accounts receivable decreased by CNY 42.80 million, a reduction of 36.14% year-on-year, indicating improved cash collection[10] - Research and development expenses decreased to CNY 14,804,803.77 in Q1 2020 from CNY 19,134,814.45 in Q1 2019, a reduction of approximately 22.5%[25] - The total operating costs for Q1 2020 were CNY 267,143,135.68, an increase of 13.4% from CNY 235,497,929.32 in Q1 2019[25] Government and Investment - The company reported government subsidies amounting to ¥6,923,033.62 during the reporting period[5] - The company plans to sign investment agreements for the Bacchus liquor brand cultural experience center and liquor production base upgrade projects with the local government[13]

Financial Performance - The company's operating revenue for 2019 was CNY 1,468,439,608.33, representing a 19.39% increase compared to CNY 1,229,991,312.76 in 2018[16]. - The net profit attributable to shareholders for 2019 was CNY 300,330,286.74, a significant increase of 142.67% from CNY 123,760,929.10 in 2018[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 278,580,629.87, up 221.61% from CNY 86,621,154.90 in 2018[16]. - The company's cash flow from operating activities for 2019 was CNY 530,492,224.04, an increase of 54.96% compared to CNY 342,336,665.10 in 2018[16]. - The total assets at the end of 2019 were CNY 2,561,519,233.85, reflecting a 5.63% increase from CNY 2,425,091,649.80 at the end of 2018[17]. - The net assets attributable to shareholders at the end of 2019 were CNY 2,001,136,585.23, a 4.16% increase from CNY 1,921,232,304.59 at the end of 2018[17]. - The company reported a basic earnings per share of CNY 0.58 for 2019, a 190.00% increase from CNY 0.20 in 2018[16]. - The company achieved a total operating revenue of 1,468.44 million yuan in 2019, representing a year-on-year growth of 19.39%[32]. - The net profit attributable to shareholders reached 300.33 million yuan, with a significant increase of 142.67% compared to the previous year[32]. Market Position and Competition - The pre-mixed cocktail industry is experiencing intensified competition, with the company maintaining a leading position in the domestic market, but facing potential impacts on market share and performance due to increasing competition[4]. - The company is committed to enhancing its core competitiveness through improved management and innovation capabilities to sustain its market share[4]. - The company has accumulated extensive R&D, production, and sales experience in the pre-mixed cocktail sector, positioning itself as a leader in technology and brand recognition[4]. - The company is actively expanding its market presence through channel innovation and digital marketing strategies, aiming to lead the domestic pre-mixed cocktail industry[29]. - The competitive landscape in the pre-mixed cocktail industry is intensifying, with new entrants posing a risk to the company's market share and performance[72]. - The domestic pre-mixed cocktail market is expected to reach over 10 million boxes, and the company is confident in maintaining a leading market share due to its first-mover advantage[71]. Research and Development - The company has established a dual main business structure, focusing on both flavor and fragrance and pre-mixed cocktails, enhancing its market resilience and risk management capabilities[29]. - The company plans to increase investment in technology research and development to improve core competitiveness in the flavor and fragrance business[69]. - The company's R&D investment amounted to ¥63,742,670.58 in 2019, representing a 1.37% increase from ¥62,879,573.33 in 2018[46]. - The number of R&D personnel increased to 102 in 2019, up 4.08% from 98 in 2018, with R&D personnel accounting for 7.16% of the total workforce[46]. Food Safety and Quality Management - The company reported a significant focus on food safety management, establishing a quality assurance system that complies with international standards, with no major quality disputes since its inception[4]. - The company emphasizes the importance of quality and safety management in its operations, which is critical given the rising consumer awareness regarding food safety[4]. - The company emphasizes food safety and quality management, implementing strict controls across all production stages to ensure product safety and compliance with industry standards[30]. - The company has maintained a strong focus on food safety, successfully passing various certifications including ISO9001 and FSSC22000[104]. Shareholder Returns and Dividends - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment rather than shareholder payouts[6]. - The company achieved a cash dividend distribution of 207,512,785.60 RMB in 2019, representing 69.09% of the net profit attributable to ordinary shareholders[77]. - The company has not proposed any cash dividend distribution for the 2019 annual report period, continuing a trend from previous years[78]. Legal Matters - The company is involved in a lawsuit against Tonghua Dongte Wine Co., Ltd. for 3 million RMB due to trademark infringement, with a judgment already in effect[87]. - 巴克斯酒业在多起诉讼中获得判决，涉及的赔偿金额总计达300万元、120万元、60万元等，显示出公司在保护品牌方面的积极行动[88][90][91]. - 在山东省的多起案件中，巴克斯酒业成功要求停止侵权并获得赔偿，包括对吉林华夏葡萄酿酒有限公司的300万元赔偿[88][89]. - 公司在多个案件中申请强制执行判决，表明其对维护自身权益的坚定态度[88][90]. Corporate Governance - The company operates under the stock code 002568 on the Shenzhen Stock Exchange, with its legal representative being Liu Xiaodong[10]. - The company has a dedicated investor relations team, with contact details provided for inquiries[11]. - The company’s annual report is disclosed through various media, including the Securities Times and the China Securities Journal, ensuring transparency[12]. - The company has established strategic partnerships with suppliers and customers, ensuring mutual benefits and compliance with social responsibilities[103]. - The company has actively participated in charitable activities, donating educational supplies to impoverished areas in Gansu and Yunnan provinces[105]. Financial Management - The company has established a comprehensive EHS management system, achieving OHSAS18001 certification, which enhances workplace health and safety[104]. - The company has implemented ISO14001 environmental management system, achieving significant results in waste reduction and energy conservation during 2019[105]. - The company has established a complete and independent financial accounting system, with dedicated financial personnel and independent bank accounts[144]. - The company reported a total of 1,450,520,028.77 CNY in capital reserves, indicating strong financial backing[200].