前十大流通股东累计持有： 33874.14万股，累计占流通股比： 64.08%，较上期变化： -116.57万股。 | 名称 | 持有数量(万股) | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 安徽古井集团有限责任公司 | 27140.40 | 51.34 | 不变 | | 招商中证白酒指数A | 1273.14 | 2.41 | -65.18 | | 景顺长城新兴成长混合A | 962.12 | 1.82 | 不变 | | CHINA INTERNATIONAL CAPITAL CORPORATION | 893.49 | 1.69 | 1.96 | | HONG KONG SECURITIES LTD | | | | | 易方达消费行业股票 | 797.80 | 1.51 | 不变 | | UBS (LUX) EQUITY FUND-CHINA OPPORTUNITY (USD) | 712.29 | 1.35 | 16.42 | | 香港中央结算有限公司 | 634.77 | 1.20 | -69.77 | | GREE ...

CONTENTS | About This Report | 02 | | --- | --- | | Message from the Chairman | 04 | | About Us | 06 | | Our ESG Journey | 10 | | Our Actions in Alignment with the United Nations Sustainable | 14 | | Development Goals (SDGs) | | | Future Outlook | 96 | | --- | --- | | Appendices | 98 | | Index of Indicators | 98 | | Third-Party Authentication | 99 | | Feedback Form | 100 | | ESG Governance | 18 | | --- | --- | | ESG Strategy | 19 | | ESG-Related Risk Management | 20 | | ESG Key Performance Indicators (KPIs) ...

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥13,805,693,542.35, representing a 22.07% increase compared to ¥11,310,016,495.10 in the same period last year[21]. - The net profit attributable to shareholders was ¥3,572,791,595.15, up 28.54% from ¥2,779,474,367.51 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥3,540,540,906.67, reflecting a 29.64% increase compared to ¥2,731,120,890.76 in the previous year[21]. - The basic earnings per share increased to ¥6.76, a rise of 28.52% from ¥5.26 in the same period last year[21]. - The company reported a total profit of ¥5.01 billion for the first half of 2024, up 31.4% from ¥3.81 billion in the same period of 2023[148]. - Operating profit for the first half of 2024 was ¥4.98 billion, a 31.6% increase from ¥3.78 billion in the same period of 2023[148]. - The tax expense for the first half of 2024 was ¥1.33 billion, compared to ¥964.66 million in the previous year, reflecting a 37.9% increase[148]. Assets and Liabilities - Total assets at the end of the reporting period were ¥36,562,696,626.70, a 3.22% increase from ¥35,420,907,274.99 at the end of the previous year[21]. - The company's total assets included cash and cash equivalents of ¥16,158,396,761.58, accounting for 44.19% of total assets[51]. - The total liabilities decreased to ¥12.83 billion from ¥13.01 billion, a decline of approximately 1.4%[142]. - Owner's equity rose to ¥23.73 billion, compared to ¥22.41 billion, indicating an increase of around 5.8%[142]. Cash Flow - The company reported a net cash flow from operating activities of ¥4,009,706,455.49, down 15.19% from ¥4,727,836,696.73 in the same period last year[21]. - Cash generated from operating activities was ¥14.25 billion, compared to ¥12.97 billion in the first half of 2023, marking an increase of 9.8%[151]. - Net cash flow from investment activities was -CNY 443,334,911.51, an improvement from -CNY 999,774,105.42 in the same period last year[153]. - The ending balance of cash and cash equivalents was CNY 15,865,996,371.71, compared to CNY 16,842,303,222.36 at the end of the first half of 2023[153]. Sales and Market Performance - The white liquor business generated ¥13,428,363,064.31, which is 97.27% of total revenue, with a year-on-year growth of 22.29%[46]. - Online sales contributed CNY 408.48 million, reflecting an 18.88% increase year-on-year, while offline sales reached CNY 13.40 billion, up 22.17%[36]. - The production volume of the flagship product, "古井贡酒," increased by 34.25% year-on-year, while its sales volume rose by 11.52%[40]. - The North China region saw a revenue increase of 35.10%, attributed to a rise in sales orders[48]. Investment and Capital Management - The company invested approximately ¥1.07 billion in intelligent winemaking technology, with a cumulative investment of ¥6.17 billion as of the reporting period[57]. - The total amount of raised funds was ¥5 billion, with a net amount of approximately ¥4.95 billion after deducting related expenses[63]. - As of June 30, 2024, the company had temporarily idle raised funds amounting to ¥600 million for cash management purposes[63]. Environmental and Sustainability Efforts - The company is committed to environmental sustainability by implementing pollution control measures and promoting waste recycling initiatives[74]. - The wastewater treatment facility at Gujing Distillery has a design capacity of 5,000 tons/day, with a total discharge of 176,000 tons in the first half of 2024, meeting the GB27631-2011 standards[88]. - The company has successfully maintained normal operation of pollution control facilities, ensuring compliance with environmental standards and fulfilling social responsibilities[87]. - The company invested a total of 20.048 million yuan in environmental governance and protection in the first half of 2024, and paid an environmental protection tax of 94,700 yuan[94]. Corporate Governance and Shareholder Relations - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[3]. - The company announced a cash dividend of RMB 45.00 per 10 shares, totaling RMB 2,378,700,000.00, which represents 51.83% of the net profit attributable to the parent company for the year 2023[77]. - The company held its annual general meeting with a participation rate of 59.58% on May 29, 2024[80]. - The company has implemented the "Quality Return Dual Improvement" action plan to enhance investor confidence and ensure sustainable development[77]. Research and Development - Research and development expenses increased to ¥33.23 million, up from ¥29.96 million, indicating a focus on innovation[146]. Compliance and Regulatory Matters - The financial report for the first half of 2024 has not been audited[138]. - The company has not faced any administrative penalties for environmental issues during the reporting period[94]. - The company strictly adheres to environmental protection laws and standards, including the emission standards for air pollutants and wastewater[85].

Financial Performance - The company's operating revenue for 2023 reached ¥20,253,526,598.02, representing a 21.18% increase compared to ¥16,713,234,153.52 in 2022[24]. - The net profit attributable to shareholders for 2023 was ¥4,589,164,052.80, a 46.01% increase from ¥3,143,144,732.08 in the previous year[24]. - The net cash flow from operating activities was ¥4,496,206,034.42, up 44.67% from ¥3,107,914,579.48 in 2022[24]. - Basic earnings per share for 2023 were ¥8.68, reflecting a 45.88% increase from ¥5.95 in 2022[25]. - The total assets at the end of 2023 amounted to ¥35,420,907,274.99, an 18.90% increase from ¥29,789,822,298.65 at the end of 2022[25]. - The net assets attributable to shareholders increased by 16.22% to ¥21,525,309,609.44 from ¥18,520,757,973.52 in 2022[25]. - The company achieved a total revenue of 20.25 billion yuan in 2023, representing a year-on-year increase of 21.18%[45]. - The net profit attributable to the parent company reached 4.59 billion yuan, up 46.01% compared to the previous year[45]. - The white liquor business generated ¥19,638,756,672.91, accounting for 96.97% of total revenue, with a growth rate of 21.47% year-on-year[55]. - The hotel business saw a significant increase of 45.53%, with revenue of ¥83,688,162.68, up from ¥57,506,783.34 in 2022[55]. Market Position and Industry Trends - The company remains a key player in the white liquor market, recognized as one of the "Old Eight Famous Liquors" in China, with its main product, Gujing Gongjiu, having a historical significance dating back to 196 AD[35]. - The total production of the liquor industry in China reached 61.31 million kiloliters in 2023, with a year-on-year growth of 1.1%, while the white liquor sector saw a production decline of 5.1%[34]. - The sales revenue of the liquor industry in 2023 was approximately 756.3 billion yuan, reflecting a year-on-year increase of 9.7%[34]. - The white liquor industry is expected to continue the trend of "the strong getting stronger and the weak declining," with leading brands consolidating their market positions in 2024[34]. - The company is positioned in a highly competitive market, with its competitive advantage stemming from brand influence, product style, and marketing capabilities[35]. Strategic Initiatives and Partnerships - The company has engaged in strategic partnerships, including a collaboration with Huanghelou Liquor Industry in 2016 and Mingguang Liquor Industry in 2021, to enhance its market presence and product offerings[36]. - The company is advancing its digital transformation strategy, implementing a new digital model to enhance operational efficiency[49]. - The company is focusing on digital marketing strategies, including the introduction of digital platforms to enhance marketing effectiveness and product monitoring[100]. - The company aims to achieve a revenue target of RMB 30 billion in the new development phase[113]. Research and Development - R&D investment increased to ¥366,964,999.32, representing a 27.14% growth compared to ¥288,639,442.89 in the previous year[69]. - The proportion of R&D investment to operating revenue rose to 1.81%, up from 1.73% in the previous year[69]. - The number of R&D personnel grew to 1,147, an increase of 8.51% from 1,057 in the previous year[69]. - The company completed several key R&D projects, including the exploration of multi-aroma liquor production and optimization of the strong aroma liquor brewing process[66][68]. - The company aims to enhance its product competitiveness through the development of high-quality flavored liquor and improved brewing techniques[68]. Governance and Compliance - The company maintains a governance structure that complies with relevant laws and regulations, ensuring transparency and protection of shareholder rights[117]. - The company operates independently from its controlling shareholder, with separate business, personnel, and financial systems[127]. - The company has established an independent financial department and accounting system, ensuring independent financial decision-making[132]. - The company has implemented a performance evaluation and incentive mechanism for its directors and senior management[122]. - The company actively respects and maintains the rights of stakeholders, promoting balanced interests among all parties involved[123]. - The company is committed to protecting the legal rights of all shareholders through its governance practices[154]. Environmental Responsibility - The company has implemented strict adherence to multiple environmental protection laws and standards, ensuring responsible operational practices[174]. - The total investment in environmental governance and protection by the company and its subsidiaries in 2023 was 32.849 million yuan, with an environmental protection tax payment of 156,900 yuan[184]. - The company holds multiple pollution discharge permits valid until 2027 and 2028, ensuring compliance with environmental regulations[174]. - Anhui Gujing Distillery Co., Ltd. reported a total wastewater discharge of 441,574 tons from its Gujing plant in 2023, meeting the GB27631-2011 discharge standards[176]. - The company has implemented an "IC anaerobic + A²/O aerobic + deep treatment" process for its wastewater treatment facilities, ensuring effective pollutant removal[176]. Employee and Management Structure - Total number of employees reached 12,969, with 6,311 in the parent company and 6,658 in major subsidiaries[159]. - The company has a stable management team with key positions held by individuals with tenures extending to 2026[135]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 28.27 million CNY[149]. - The company has implemented a performance-based remuneration system, with basic salaries paid monthly and performance bonuses distributed at year-end[147]. Future Outlook - The company plans to achieve operating revenue of 24.45 billion yuan in 2024, representing a growth of 20.72% compared to the previous year[104]. - The company aims for a total profit of 7.95 billion yuan in 2024, which is an increase of 25.55% year-over-year[104]. - The company anticipates a shift in the liquor industry towards a "full-factor competition logic" due to economic uncertainties and demographic changes[97].

安徽古井贡酒股份有限公司 2023 年半年度报告 2023 年 08 月 2023 年半年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 公司负责人梁金辉、主管会计工作负责人及会计机构负责人(会计主管人员) 朱家峰声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺， 投资者及相关人士均应当对此保持足够的风险认识，并且应当理解计划、预测 与承诺之间的差异，敬请投资者注意投资风险。 公司已在本报告第三节"管理层讨论与分析""十、公司面临的风险和应 对措施"中详细描述了可能对公司未来发展战略和经营目标的实现产生不利影 响的风险因素及拟采取的对策措施，请投资者关注。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 ~ 2 ~ 目录 | 第一节 | 重要提示、目录和释义 | 2 | | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 ...

Financial Performance - The company's operating revenue for 2022 was ¥16,713,234,153.52, representing a 25.95% increase compared to ¥13,269,826,266.04 in 2021[12]. - The net profit attributable to shareholders for 2022 was ¥3,143,144,732.08, a 36.78% increase from ¥2,297,894,413.25 in the previous year[12]. - Basic earnings per share for 2022 were ¥5.95, up 33.71% from ¥4.45 in 2021[12]. - The diluted earnings per share for 2022 were also ¥5.95, reflecting a 33.71% increase from ¥4.45 in 2021[13]. - The company's total revenue for the first quarter was approximately CNY 5.27 billion, with a net profit attributable to shareholders of CNY 1.10 billion[15]. - In the second quarter, the revenue decreased to approximately CNY 3.73 billion, with a net profit of CNY 820 million, reflecting a downward trend[15]. - The total operating revenue for 2022 reached ¥16,713,234,153.52, representing a year-on-year increase of 25.95% compared to ¥13,269,826,266.04 in 2021[41]. - The revenue from the liquor business amounted to ¥16,167,709,250.64, accounting for 96.74% of total revenue, with a year-on-year growth of 26.70%[41]. - The company reported a significant increase in international revenue, which rose by 115.76% to ¥21,813,948.38, compared to ¥10,110,198.70 in the previous year[41]. - The company achieved a total operating revenue of 16.713 billion yuan, an increase of 25.95% year-on-year[34]. Cash Flow and Assets - The net cash flow from operating activities decreased by 40.85% to ¥3,107,914,579.48 from ¥5,254,308,127.79 in 2021[12]. - The net cash flow from operating activities for 2022 was ¥3,107,914,579.48, a decrease of 40.85% compared to 2021, primarily due to increased tax payments[59]. - The net increase in cash and cash equivalents for 2022 was ¥7,047,823,256.62, an increase of 1,575.47% year-on-year, mainly due to the maturity and reduced purchase of financial products[59]. - Total cash inflow from investment activities reached ¥8,483,831,118.31, a significant increase of 1,075.81% compared to the previous year[59]. - The company's monetary funds at the end of 2022 amounted to ¥13,772,561,141.30, accounting for 46.23% of total assets, a slight decrease of 0.69% from the beginning of the year[60]. - Inventory at the end of 2022 was ¥6,058,106,090.88, representing 20.34% of total assets, an increase of 1.99% compared to the beginning of the year[60]. - Total assets at the end of 2022 were ¥29,789,822,298.65, an increase of 17.20% from ¥25,418,086,447.80 at the end of 2021[13]. - The total liabilities reached ¥10,456,968,542.44 in 2022, up from ¥8,165,225,566.27 in 2021, indicating an increase of around 28.0%[200]. - The company's retained earnings increased to ¥11,497,599,306.54 in 2022 from ¥9,517,374,574.46 in 2021, representing a rise of approximately 20.8%[200]. Market Position and Strategy - The company is positioned as one of China's top eight famous liquor brands, with a brand value of CNY 227.03 billion, ranking fourth in the industry[23]. - The company aims to leverage consumer trends towards premium liquor, focusing on quality improvement and product innovation[21]. - The overall liquor industry in China is experiencing a recovery since 2016, driven by rising consumer demand for mid-to-high-end products[21]. - The company is actively expanding its market presence outside its home province, focusing on high-end product strategies[34]. - The company is focusing on expanding its market presence through a national strategy and enhancing brand influence[89]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[116]. - The company is committed to digital transformation to enhance operational efficiency and reduce costs[84]. - The company is advancing its "Strategic 5.0" and "Five-Star Operations" strategies to improve service and operational efficiency[85]. Research and Development - The company launched 9 invention patents and 62 utility model patents during the reporting period, showcasing significant technological innovation[36]. - The company conducted multiple R&D projects aimed at improving the quality of its products, including studies on various brewing techniques and raw materials[53]. - The company aims to enhance its product quality and market competitiveness through ongoing R&D efforts and new product development[53]. - R&D expenses rose by 10.14% to ¥56,667,203.01 in 2022 compared to ¥51,449,475.36 in 2021[51]. - The total R&D investment amounted to ¥288,639,442.89 in 2022, a decrease of 3.98% from ¥300,602,964.92 in 2021[57]. - R&D investment as a percentage of operating revenue was 1.73% in 2022, down from 2.27% in 2021, reflecting a 0.54% decrease[57]. - The number of R&D personnel increased by 8.08% to 1,057 in 2022 from 978 in 2021[56]. Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[99]. - The supervisory board has 5 members, including 2 employee supervisors, meeting legal requirements[100]. - The company has established a transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management[101]. - The company adheres to strict information disclosure obligations, ensuring fair access to information for all shareholders[103]. - The company has implemented an insider information management system to maintain confidentiality and fairness in information disclosure[104]. - The company operates independently from its controlling shareholder, with separate business, personnel, assets, and financial management[106]. - The company has established independent financial management and accounting systems, ensuring no shared bank accounts with shareholders[111]. - The company maintained a high level of diligence and responsibility in its governance practices throughout the reporting period[132]. Environmental Responsibility - The company has obtained pollution discharge permits for various facilities, valid until July 18, 2027, for the Gujing, Zhangji, and headquarters plants, and until October 16, 2027, for the Smart Park plant[152]. - The wastewater treatment capacity at the headquarters is approximately 4,300 tons per day, while the Gujing branch has a capacity of about 2,600 tons per day, both meeting the discharge standards[154]. - The company invested a total of 69.24 million yuan in environmental governance and protection in 2022, and paid 142,800 yuan in environmental protection tax[158]. - The company has established emergency response plans for environmental pollution incidents, filed with the local ecological environment bureau[158]. - The company has successfully maintained compliance with environmental standards, with no administrative penalties reported during the reporting period[159]. Employee and Management - Total number of employees is 11,310, with 5,826 in the parent company and 5,484 in major subsidiaries[138]. - The company emphasizes employee training and development, implementing various training programs to enhance overall employee quality[140]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2,159.59 million[127]. - The company has no significant internal control deficiencies reported, with zero major defects in financial and non-financial reporting[149]. Future Outlook - The company plans to achieve a revenue of 20.1 billion yuan in 2023, representing a growth of 20.26% compared to the previous year[87]. - The projected total profit for 2023 is 6 billion yuan, which indicates a growth of 34.21% year-over-year[87]. - Overall, the company remains optimistic about future growth, supported by strong financial performance and strategic initiatives[116].

Financial Performance - The company's revenue for Q1 2022 reached ¥5,274,316,915.03, representing a 27.71% increase compared to ¥4,130,015,502.32 in the same period last year[5] - Net profit attributable to shareholders was ¥1,098,725,631.83, up 34.90% from ¥814,470,363.67 year-on-year[5] - Basic earnings per share rose to ¥2.08, reflecting a 28.40% increase from ¥1.62 in the same quarter last year[5] - Net profit for Q1 2022 was ¥1,131,655,770.26, up 34.8% from ¥839,225,582.18 in Q1 2021[22] - The company reported a total comprehensive income of ¥1,121,951,448.07 for Q1 2022, compared to ¥839,225,582.18 in Q1 2021, reflecting a significant growth[23] - The total profit before tax was CNY 1,506,141,803.84, compared to CNY 1,114,989,073.34 in the previous year, representing an increase of 34.9%[51] Cash Flow - The net cash flow from operating activities improved significantly to ¥2,776,260,991.07, a 302.11% increase from a negative cash flow of -¥1,373,645,850.02 in the previous year[5] - The cash flow from operating activities showed a net increase of CNY 2,776,260,991.07, a significant recovery from a negative cash flow of CNY -1,373,645,850.02 in the same period last year[55] - The cash flow from investing activities for Q1 2022 showed a net inflow of ¥1,269,374,120.90, a recovery from a net outflow of -¥193,966,694.98 in the same period last year[27] - The company reported a net cash flow from investing activities of CNY 1,269,374,120.90, a recovery from a negative cash flow of CNY -193,966,694.98 in the same period last year[56] Assets and Liabilities - Total assets at the end of the reporting period were ¥30,822,518,375.92, a 21.26% increase from ¥25,418,086,447.80 at the end of the previous year[5] - The total assets reached ¥30,822,518,375.92, up from ¥25,418,086,447.80 in the previous year, indicating a growth of 21.5%[19] - The total liabilities increased to ¥12,447,706,046.32, compared to ¥8,165,225,566.27 in the previous year, reflecting a 52.8% rise[19] - The company’s total liabilities increased to CNY 25,296,678,364.04 from CNY 20,290,239,634.12, marking an increase of around 24.7%[14] - The total current liabilities increased significantly to CNY 4,692,470,945.47 from CNY 1,825,447,705.85, marking an increase of around 157.5%[17] Shareholder Equity - The company's owner equity attributable to shareholders increased by 6.58% to ¥17,625,814,882.73 from ¥16,537,389,443.64[5] - The total equity attributable to shareholders of the parent company rose to ¥17,625,814,882.73, an increase of 6.6% from ¥16,537,389,443.64[19] - The total equity attributable to shareholders increased to CNY 17,625,814,882.73 from CNY 16,537,389,443.64, reflecting a growth of 6.6%[48] Research and Development - Research and development expenses increased by 47.54% to ¥13,222,646.77 from ¥8,961,804.32, indicating a focus on innovation[8] - Research and development expenses for Q1 2022 were ¥13,222,646.77, compared to ¥8,961,804.32 in Q1 2021, marking a 47.5% increase[20] Investment Activity - The company reported a significant increase in investment activity cash inflow, totaling ¥3,046,682,466.67, a 670.42% rise from ¥395,455,715.50[8] - The company recorded investment cash inflows of CNY 3,046,682,466.67, significantly higher than CNY 395,455,715.50 in the previous year[56] Inventory and Receivables - The company's inventory stood at CNY 4,732,242,212.53, showing an increase from CNY 4,663,456,672.30, which is a rise of approximately 1.5%[14] - The accounts receivable increased slightly to CNY 91,918,172.94 from CNY 89,005,804.17, which is an increase of about 3.2%[14] - Accounts receivable financing rose significantly by 466.19% to ¥3,086,912,987.65, mainly due to an increase in bank acceptance bills received[36] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 35,931, with the top ten shareholders holding a significant portion of the shares[9] - The company’s largest shareholder, Anhui Gujing Group, holds 51.15% of the shares, with a total of 270,372,022 shares[38]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 7,007,496,467.74, representing a 26.96% increase compared to CNY 5,519,621,000.62 in the same period last year[10]. - The net profit attributable to shareholders of the listed company reached CNY 1,378,803,828.46, up 34.53% from CNY 1,024,936,604.36 year-on-year[10]. - The net profit after deducting non-recurring gains and losses was CNY 1,338,285,260.99, reflecting a 32.78% increase from CNY 1,007,918,868.52 in the previous year[10]. - The basic earnings per share for the reporting period was CNY 2.74, a 34.31% increase compared to CNY 2.04 in the same period last year[10]. - The total assets at the end of the reporting period amounted to CNY 22,774,349,848.99, a 49.96% increase from CNY 15,186,625,708.79 at the end of the previous year[10]. - The net assets attributable to shareholders of the listed company were CNY 15,621,511,888.56, which is a 55.54% increase from CNY 10,043,288,013.73 at the end of the previous year[10]. - The gross profit margin for the overall business was 76.40%, with a slight increase of 0.20% from the previous year[17]. - The company achieved operating revenue of CNY 7.007 billion, representing a year-on-year growth of 26.96%[15]. - The net profit attributable to the parent company was CNY 1.379 billion, an increase of 34.53% compared to the same period last year[15]. Cash Flow and Investments - The net cash flow from operating activities was CNY 263,967,132.26, showing a significant decrease of 88.73% compared to CNY 2,341,638,100.64 in the same period last year[10]. - The company reported a significant increase in cash flow from financing activities, totaling ¥4,097,019,275.25, an increase of 8,126.32% compared to the previous year[27]. - The company’s cash and cash equivalents increased by 63.26% to ¥4,005,485,404.40, primarily due to the inflow of raised funds[27]. - The company reported a net cash flow from investing activities of -¥355,501,003.11, a decrease from ¥61,995,665.31 in the first half of 2020[104]. - Cash inflows from financing activities amounted to ¥5,093,157,169.81, significantly higher than ¥50,094,500.00 in the same period of 2020[104]. Sales and Revenue Breakdown - The "Year Original" product series generated revenue of CNY 5.070 billion, with a gross profit margin of 82.45%[17]. - The "Gujing Gongjiu" product line reported revenue of CNY 806 million, with a gross profit margin of 59.47%[17]. - The "Huanghelou" brand saw a significant revenue increase of 319.60% year-on-year, totaling CNY 581 million[17]. - Online sales accounted for CNY 278 million, with a growth rate of 89.44% compared to the previous year[17]. - Offline sales reached CNY 6.729 billion, reflecting a year-on-year increase of 25.25%[17]. - The sales revenue from the liquor business was ¥6,808,931,206.29, accounting for 97.17% of total operating revenue[28]. Operational Efficiency and Strategy - The company has outlined potential risks and countermeasures that may adversely affect its future development strategy and operational goals[2]. - The company is focusing on high-end and mid-range product positioning to capture the growing demand in premium consumption scenarios[16]. - The company has established a dual-brand matrix with Huanghelou to enhance market synergy[16]. - The company plans to accelerate its digital transformation and improve financial integration projects to enhance operational efficiency[49]. - The company aims to strengthen its internal management and enhance coordination among departments to improve operational effectiveness[50]. Environmental and Social Responsibility - The company has actively responded to social responsibilities, focusing on environmental protection and sustainable development[61]. - The company has implemented advanced pollution control technologies, including SCR and wet electrostatic precipitators, to meet ultra-low emission requirements[57]. - The company has established an emergency response plan for sudden environmental pollution incidents, filed with the Bozhou Ecological Environment Bureau[59]. - The company’s environmental facilities are operating normally, ensuring compliance with pollution discharge standards[57]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[2]. - The annual shareholders meeting had a participation rate of 59.34% on May 25, 2021[51]. - The company issued 25,000,000 A-shares at a price of RMB 200 per share, raising a total of RMB 5,000,000,000, with a net amount of RMB 4,954,342,074.85 after expenses[77]. - The total number of shares after the issuance is 503,600,000, with 76.17% being RMB ordinary shares and 23.83% being foreign shares listed domestically[75]. - The company has 33,189 total common stock shareholders at the end of the reporting period[78]. Risk Management and Compliance - The company has established a regulatory mechanism for financial derivatives to mitigate investment risks effectively[42]. - The independent directors approved a limit of 300,000,000 CNY for the company's reverse repo derivative investments, emphasizing the prudent risk management principles aligned with shareholder interests[42]. - The company has not encountered any expected inability to recover principal or other impairment situations[76]. - The company has not initiated any employee incentive plans or stock ownership plans during the reporting period[53]. Accounting and Financial Reporting - The financial report for the first half of 2021 was not audited, which may impact the reliability of the financial data presented[87]. - The company’s accounting policies comply with the requirements of enterprise accounting standards, ensuring accurate financial reporting[134]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial status and performance of the group[141]. - The company recognizes expected credit loss provisions in the income statement, reflecting changes in credit risk since initial recognition[166].