证券简称：华致酒行 证券代码：300755 华致酒行连锁管理股份有限公司 投资者关系活动记录表 编号：2019-005 | --- | --- | --- | |-------------------------------------|--------------------------|-----------------------------------------------------------------------------------------------------------------------------| | | | | | 投 资 者 关 系 活 动类别 | □ ☑现场参观 □ 其他 | ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 新闻发布会 □路演活动 | | 参 与 单 位 名 称 及人员姓名 | 晓慧，景顺长城基金黄海晨 | 中信建投证券周博文，国泰君安证券张睿、彭瑛，工银瑞信基金秦聪， 广州金控陈敏良，中邮基金国晓雯，中信保诚基金邹伟，温莎资本郭 | | 时间 | 2019 年 07 月 | 26 日 10:00-11:30 | | 地点 | 北京市东城 ...

Company Overview - Established in 2005, Huazhi Wine Chain Management Co., Ltd. is a leading premium wine marketing and service provider in China, focusing on "premium, authenticity, service, and innovation" [2] - The company has built a comprehensive marketing network including chain wine shops, Huazhi wine cellars, retail outlets, and e-commerce platforms [2] Market Demand for High-End Baijiu - Baijiu, a traditional Chinese liquor, has a strong cultural heritage and consumer base, with a shift from government and business consumption to personal consumption driven by the rise of the middle class [3] - According to Credit Suisse's 2015 Global Wealth Report, China's total household wealth reached $22.8 trillion, making it the second largest globally, with 109 million middle-class individuals [3] Wine Consumption Trends - Wine consumption in China is increasingly popular among younger consumers, particularly those aged 26-35 (49%) and 18-25 (34%) [3] - The demand for high-quality wine is rising as consumers prioritize brand and cultural attributes, leading to a growing market for premium wines [3] Impact of US-China Trade Tensions - The company imports the Mondavi series of wines from Constellation Brands, but the procurement amount is relatively small, resulting in minimal impact from the US-China trade tensions [3] - In 2018, the company established a partnership with Australia's Treasury Wine Estates to promote high-end wines in China [3] Collaboration with Treasury Wine Estates - The company has exclusive distribution rights for Penfolds Winery and Beaulieu Vineyard wines in China, with a focus on high-quality products [4] - Penfolds Winery is renowned in Australia, while Beaulieu Vineyard has a century-long history and has been selected for White House state dinners since 1940 [4]

证券简称：华致酒行 证券代码：300755 华致酒行连锁管理股份有限公司 投资者关系活动记录表 编号：2019-001 | --- | --- | --- | |-----------------------------------|---------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 投 资 者 关 系 活 动类别 | □ □现场参观 □ 其他 | ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 新闻发布会 □路演活动 | | 参 与 单 位 名 称 及人员姓名 | 基金吴秉韬 | 天风证券刘章明、王泽华， ...

证券简称：华致酒行 证券代码：300755 华致酒行连锁管理股份有限公司 投资者关系活动记录表 编号：2019-002 | --- | --- | |-------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | 投 资 者 关 系 活 动类别 | ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 新闻发布会 □路演活动 | | 参 与 单 位 名 称 及人员姓名 | 汇丰前海证券宋丽华、王爽，才华资本朱嘉璐 | | 时间 | 05 月 14 日 09:30-10:30 | ...

证券简称：华致酒行 证券代码：300755 华致酒行连锁管理股份有限公司 投资者关系活动记录表 编号：2021-002 | --- | --- | --- | --- | --- | --- | --- | |---------------------------|-----------------------------------------------------------------------------------------------------------------------------------|------------|-------|-------|----------------|-------| | | | | | | | | | 投 资 者 关 系活 | ☑ 特定对象调研 □分析师会议 | | | | | | | 动类别 | □媒体采访 □业绩说明会 | | | | | | | | □新闻发布会 | | | | | | | | □现场参观 □其他 | | | | | | | 参 与 单 位 名称 | 天风证券刘章明，太平洋保险李卓、向涛，国信证券陈青青、熊鹏，东方 | | ...

编号：2022-006 证券简称：华致酒行 证券代码：300755 华致酒行连锁管理股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------|------------------------------------------------------------------|--------------------------------------------------------------| | | □特定对象调研 | R 分析师会议 | | | □媒体采访 □业绩说明会 | | | 投资者关系活 | □新闻发布会 □路演活动 | | | 动类别 | □现场参观 | | | | □其他 | | | 参与单位名称 | | 天风证券王泽华、中信建投刘乐文、国泰君安陈力宇、海通国际 | | 及人员姓名 | | 闻宏伟、浙商证券张潇倩、长江证券陈亮等近 40 名卖方分析师 | | 时间 | 2022 年 10 月 25 日 | 18:30-19:10 | | 地点 | 线上会议 | | | | 总经理：李伟 | | | 上市公司接待 人员姓名 ...

Financial Performance - The company's revenue for Q3 2022 was ¥2,104,871,741.79, representing a 4.32% increase year-over-year, while the year-to-date revenue reached ¥7,480,107,029.41, up 25.26% compared to the same period last year[4] - The net profit attributable to shareholders for Q3 2022 was ¥32,696,882.28, a significant decrease of 84.76% year-over-year, with a year-to-date net profit of ¥353,552,121.92, down 39.14%[4] - Total operating revenue for the third quarter reached ¥7,480,107,029.41, an increase of 25.2% compared to ¥5,971,878,208.58 in the same period last year[35] - Operating profit decreased to ¥406,672,389.45, down 43% from ¥712,112,846.16 in the previous year[35] - Net profit before tax was ¥409,444,516.49, a decline of 42.5% compared to ¥712,473,838.75 in the same period last year[35] - The net profit attributable to shareholders of the parent company was approximately ¥353.55 million, a decrease from ¥580.97 million in the previous period, representing a decline of about 39.1%[38] - The total comprehensive income amounted to approximately ¥352.54 million, down from ¥585.12 million, indicating a decrease of around 39.7%[38] Cash Flow - The company's cash flow from operating activities for the year-to-date period was ¥122,500,832.98, showing a substantial increase of 130.60% compared to the previous year[4] - The net cash flow from operating activities increased by 130.60% to ¥122,500,832.98, primarily due to increased cash receipts from sales revenue[16] - Cash flow from operating activities generated a net inflow of approximately ¥122.50 million, compared to ¥53.12 million in the previous period, reflecting an increase of about 130.1%[41] - The company reported cash inflows from operating activities totaling approximately ¥7.77 billion, up from ¥6.60 billion, marking an increase of about 17.8%[41] - Cash outflows for operating activities were approximately ¥7.65 billion, compared to ¥6.54 billion in the previous period, an increase of about 17.0%[41] - The net cash flow from investing activities decreased significantly by 1387.19% to -¥162,746,844.10, mainly due to increased cash payments for property acquisitions[16] - The company’s investment activities resulted in a net cash outflow of approximately ¥162.75 million, compared to a net outflow of ¥10.94 million in the previous period, reflecting a significant increase in cash outflow[41] - The net cash flow from financing activities increased by 284.47% to ¥363,381,992.65, primarily due to increased cash receipts from borrowings[16] - The company raised approximately ¥1.03 billion through financing activities, significantly up from ¥273.31 million in the previous period, representing an increase of about 276.5%[44] - The company incurred financing cash outflows of approximately ¥664.69 million, compared to ¥470.29 million in the previous period, an increase of about 41.2%[44] Assets and Liabilities - Total assets at the end of Q3 2022 were ¥6,409,403,913.94, a decrease of 6.17% from the end of the previous year, while equity attributable to shareholders increased by 6.22% to ¥3,625,749,942.10[7] - The company's total current assets as of September 30, 2022, amounted to ¥5,909,949,271.86, a decrease from ¥6,500,432,720.28 at the beginning of the year[25] - Total non-current assets rose to ¥499,454,642.08, up 51.1% from ¥330,477,561.65[31] - Total liabilities decreased to ¥2,716,670,075.63, down 18.9% from ¥3,349,726,759.30[31] - The company's total assets were reported at ¥6,409,403,913.94, a decrease of 6.2% from ¥6,830,910,281.93[31] Inventory and Receivables - The company's inventory decreased by 17.20% to ¥2,523,778,807.06, attributed to increased sales that absorbed the initial stock from the peak season[12] - The accounts receivable increased by 148.12% to ¥340,495,458.69, primarily due to outstanding receivables from major retailers like Metro and Walmart[9] Operating Costs and Expenses - The company reported a 36.58% increase in operating costs, amounting to ¥6,430,403,946.75, in line with the growth in revenue[13] - Total operating costs amounted to ¥7,064,530,199.16, up 34.3% from ¥5,261,509,380.51 year-on-year[35] - The company reported a significant increase in sales expenses, which reached ¥481,577,997.30, compared to ¥427,119,810.60 in the previous year, marking an increase of 12.7%[35] - Financial expenses rose by 53.65% to ¥14,481,102.22, mainly due to increased interest costs[13] Strategic Initiatives - The company plans to continue expanding its direct supply to terminal stores and enhancing its premium product matrix to support ongoing revenue growth[13] - The company plans to continue expanding its market presence and developing new products and technologies[19] - The company has a strategy focused on enhancing shareholder value through potential mergers and acquisitions in the future[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,371, with the largest shareholder holding 47.80% of the shares[17] - Yunnan Rongrui High-tech Investment Management Co., Ltd. held 199,237,500 shares, representing 47.80% of the total shares[20] Deferred Income and Earnings - Deferred income tax assets increased to ¥91,873,280.39 from ¥68,109,423.78, reflecting a growth of 34.8%[31] - Unallocated profits increased to ¥2,197,207,948.27, up 10.9% from ¥1,981,199,298.35[31] - The company’s basic earnings per share were ¥0.85, down from ¥1.39 in the previous period, indicating a decrease of about 38.8%[38] - The company’s cash and cash equivalents at the end of the period were approximately ¥1.04 billion, compared to ¥959.90 million at the end of the previous period, showing an increase of about 8.1%[44]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the first half of 2022, representing a year-on-year growth of 15%[20] - The company's operating revenue for the reporting period was ¥5,375,235,287.62, representing a year-on-year increase of 35.94%[29] - The company's revenue for the reporting period reached ¥5,375,235,287.62, representing a year-on-year increase of 35.94% compared to ¥3,954,230,580.13 in the same period last year[52] - Operating revenue reached ¥4,893,809,353.41, an increase of 42.14% year-on-year[56] - The company reported a net profit attributable to shareholders of the listed company was ¥320,855,239.64, a decrease of 12.44% compared to the same period last year[29] - Net profit for the first half of 2022 was ¥323,488,593.98, a decrease of 12.7% from ¥370,795,169.16 in the first half of 2021[186] - The company reported a basic earnings per share of ¥0.77, a decrease of 12.50% year-on-year[29] - The company reported a basic earnings per share of ¥0.77, down from ¥0.88 in the previous year[186] - The total comprehensive income for the first half of 2022 was ¥321,834,115.16, down from ¥371,181,897.14 in the same period of 2021[186] Market Expansion and Strategy - The company plans to expand its market presence by opening 50 new retail locations by the end of 2022, aiming for a 25% increase in market share[20] - The company aims to strengthen its market position by optimizing its nationwide marketing network and deepening partnerships with well-known wineries[43] - The company has expanded its retail network by implementing the "700 Project," targeting 700 regions with high-end liquor consumption capabilities across major cities and counties[44] - The company is focused on developing new products that meet market demands through collaboration with brewing enterprises[39] - The company is investing in new product development, with a budget allocation of 100 million RMB for R&D in innovative liquor products[20] Operational Efficiency and Management - The company has successfully completed a management restructuring, appointing a new CEO in March 2022 to enhance operational efficiency[28] - The company has established a comprehensive information-based supply chain management system to enhance service quality and product authenticity[39] - The company is committed to enhancing brand strength and channel development to improve competitive advantages in the liquor distribution market[6] - The company has implemented measures to combat counterfeit products, ensuring the authenticity of its offerings through source control and consumer oversight[79] - The company has actively explored new media channels and diversified marketing strategies, including live streaming to boost sales growth[48] Financial Health and Cash Flow - The net cash flow from operating activities was ¥243,526,489.97, showing a significant increase of 113.04% year-on-year[29] - Operating cash inflow for the first half of 2022 was CNY 5,319,730,210.13, an increase of 18.6% compared to CNY 4,486,131,130.75 in the first half of 2021[197] - The company has shown a strong improvement in cash flow management, with a notable increase in net cash flow from operating activities[197] - The net increase in cash and cash equivalents was ¥80,080,293.86, a 137.35% increase year-on-year[56] - The company reported a significant increase in short-term borrowings, totaling ¥637,650,706.96, up 2.56% from the previous year[61] Risks and Challenges - The company has identified a risk of market price fluctuations, with liquor prices showing a volatility of up to 30% during peak seasons[6] - The company faces intensified market competition due to the rise of e-commerce and changing consumer preferences, necessitating adjustments in sales and marketing strategies[78] - Market price fluctuations for liquor products have been significant, influenced by seasonal demand and changing consumer behavior, impacting profitability[79] Shareholder and Governance Matters - The annual shareholders' meeting had a participation rate of 74.61%, indicating strong investor engagement[86] - The company does not plan to distribute cash dividends or issue new shares from capital reserves for the half-year period[87] - The company has committed to distributing at least 20% of its distributable profits as cash dividends annually for three years post-IPO, with plans to increase the dividend ratio as financial stability improves[99] - The company has implemented a governance structure that respects and protects the rights of all shareholders, ensuring compliance with relevant laws and regulations[93] - The company has fulfilled all commitments related to share lock-up periods and dividend distributions as outlined in its IPO agreements[99] Employee and Social Responsibility - The company recruited 738 new employees in the first half of the year, enhancing its marketing team and improving coverage in the central and western regions[49] - The company organized 572 internal training sessions, covering 49,715 employees, to improve the skills and service levels of its operational staff[49] - The company plans to invest 2 million yuan over four years in poverty alleviation and educational support in Yunnan Province, contributing to social economic development[96] - The company emphasizes the protection of employee rights, providing benefits in accordance with national regulations and ensuring compliance with labor laws[93] Asset and Liability Management - The total assets at the end of the reporting period were ¥6,234,379,542.92, down 8.73% from the end of the previous year[29] - The total liabilities of the company decreased to approximately CNY 1.24 billion from CNY 1.47 billion, a decline of about 15.7%[167] - Total liabilities decreased from 3,349,726,759.30 to 2,580,155,377.13, a reduction of approximately 23%[171] - The company maintained its share capital at 416,798,400.00 with no changes reported[178]

Financial Performance - The company's operating revenue for Q1 2022 reached ¥3,554,037,591.89, representing a 51.03% increase compared to ¥2,353,230,618.02 in the same period last year[4] - Net profit attributable to shareholders was ¥248,902,473.26, up 30.39% from ¥190,886,539.63 year-on-year[4] - The company reported a basic earnings per share of ¥0.60, reflecting a 30.43% increase from ¥0.46 in the same period last year[4] - Net profit for the current period was ¥250,877,256.52, up from ¥192,632,969.58 in the previous period, reflecting a growth of approximately 30%[26] - The net profit attributable to the parent company's shareholders was ¥248,902,473.26, compared to ¥190,886,539.63 in the prior period, marking an increase of around 30.4%[29] - Other comprehensive income after tax for the current period was ¥283,225.38, compared to a loss of ¥150,637.90 in the previous period[29] Cash Flow - The net cash flow from operating activities improved significantly to ¥150,929.90, a 100.03% increase from a negative cash flow of ¥511,577,523.72 in the previous year[4] - Cash inflow from operating activities totaled 3,390,809,072.59, compared to 2,371,393,361.92 in the prior period, indicating a year-over-year increase of approximately 43%[32] - Cash outflow from operating activities was 3,390,658,142.69, up from 2,882,970,885.64, reflecting a rise of about 17.6%[32] - The net cash flow from investing activities was -7,037,705.92, worsening from -3,674,435.08 in the previous period[35] - The net cash flow from financing activities decreased by 111.81% to -¥10,788,020.83, indicating reduced cash inflow from borrowings[10] - Cash inflow from financing activities was 70,000,000.00, down from 138,900,000.00, showing a decline of approximately 49.6%[35] Assets and Liabilities - Total assets decreased by 6.10% to ¥6,414,322,850.89 from ¥6,830,910,281.93 at the end of the previous year[4] - Total liabilities decreased to ¥2,681,978,846.36 from ¥3,349,726,759.30, a reduction of approximately 20%[26] - The total current assets of the company at the end of the period amounted to CNY 6,097,293,494.34, a decrease from CNY 6,500,432,720.28 at the beginning of the year, reflecting a decline of approximately 6.2%[17] - Total liabilities decreased to CNY 2,649,192,728.71 from CNY 3,317,065,898.76, showing a decline of approximately 20.2%[20] - The company reported a significant reduction in contract liabilities from CNY 605,401,012.40 to CNY 159,827,675.52, a decrease of approximately 73.7%[20] Equity - The company's equity attributable to shareholders increased by 7.30% to ¥3,662,755,422.70 from ¥3,413,569,724.06 at the end of the previous year[4] - The total equity attributable to the parent company increased to ¥3,662,755,422.70 from ¥3,413,569,724.06, representing a growth of about 7.3%[26] Operational Metrics - The increase in accounts receivable was 93.99%, rising to ¥266,211,659.17 due to uncollected receivables from major clients[7] - Total operating costs amounted to ¥3,254,492,333.27, compared to ¥2,100,424,832.15 in the prior period, indicating an increase of about 55%[26] - The company reported a significant increase in research and development expenses, reflecting its commitment to innovation and new product development[26] - The company is exploring market expansion strategies to enhance its competitive position in the industry[26] Inventory and Fixed Assets - Inventory decreased to CNY 2,656,212,066.69 from CNY 3,048,011,251.42, indicating a reduction of about 12.9%[17] - The company’s fixed assets increased to CNY 94,075,202.75 from CNY 41,695,193.11, indicating a growth of approximately 125.0%[19] - The company’s other non-current assets decreased to CNY 12,518,000.00 from CNY 61,138,000.00, reflecting a decline of about 79.5%[19]

Financial Performance - The company's operating revenue for 2021 was ¥7,459,995,050.92, representing a 50.97% increase compared to ¥4,941,441,556.43 in 2020[31]. - The net profit attributable to shareholders for 2021 was ¥675,531,930.39, an increase of 81.03% from ¥373,168,102.61 in 2020[31]. - The net profit after deducting non-recurring gains and losses was ¥657,543,065.70, up 92.06% from ¥342,367,494.07 in 2020[31]. - The company's cash flow from operating activities was negative at -¥373,493,891.92, a decline of 214.92% compared to ¥324,993,267.10 in 2020[31]. - The total assets at the end of 2021 were ¥6,830,910,281.93, a 58.11% increase from ¥4,320,258,037.84 at the end of 2020[31]. - The net assets attributable to shareholders at the end of 2021 were ¥3,413,569,724.06, reflecting a 21.21% increase from ¥2,816,265,452.92 at the end of 2020[31]. - The basic earnings per share for 2021 were ¥1.62, an increase of 80.00% from ¥0.90 in 2020[31]. - The weighted average return on equity for 2021 was 21.75%, up from 14.00% in 2020[31]. - Total revenue for 2021 reached ¥7,459,995,050.92, a 50.97% increase from ¥4,941,441,556.43 in 2020[104]. - The liquor industry accounted for ¥7,365,860,668.19, representing 98.74% of total revenue, with a year-on-year growth of 51.00%[104]. - The sales volume of liquor increased by 77.27% year-on-year, primarily driven by revenue growth[110]. - Gross profit margin for the liquor industry improved to 20.60%, up from 18.78% in the previous year[109]. - E-commerce sales reached ¥582,051,259.19, contributing 7.80% to total revenue, with a growth of 45.29%[104]. Market Trends and Consumer Behavior - The company faces significant market competition with numerous participants, leading to intensified competition in the liquor distribution sector[5]. - The liquor market has experienced notable price fluctuations, with prices rising during traditional peak sales seasons such as Mid-Autumn Festival and Spring Festival[6]. - The company is adapting to changes in consumer behavior, with a shift towards business and personal consumption driving the upgrade of liquor consumption structure[7]. - The company emphasizes the importance of brand reputation in the liquor industry, as the market is characterized by a low concentration of participants and varying levels of credibility[9]. - The demand for premium liquor has significantly increased, with a notable recovery in consumption levels following the macroeconomic recovery[65]. - The market for imported wines in China is becoming increasingly competitive, with a shift towards brand and price-performance competition[59]. - The liquor distribution industry in China has seen significant modernization and efficiency improvements, supported by stable production and expanded distribution channels[57]. - The liquor market in China is expected to have broad growth potential due to rising incomes and increasing urbanization, leading to more frequent social activities and higher consumption of alcoholic beverages[63]. - The middle class is becoming a significant consumer group, shifting wine consumption from government and military purchases to personal and business consumption[73]. Product Development and Innovation - The company is actively involved in research and development of new products and technologies to meet evolving consumer demands[5]. - The company has developed a complete information-based supply chain management system to ensure the provision of authentic premium wines and high-quality services[54]. - The product decision committee, comprising heads from various departments, guides new product development based on market demand and sales data[92]. - The company is investing 100 million RMB in R&D for new technologies aimed at enhancing user experience and operational efficiency[184]. - New product launches are expected to contribute an additional 300 million RMB in revenue, with a focus on expanding the product line in the premium segment[184]. Strategic Partnerships and Market Expansion - Strategic partnerships were established with brands like Lai Gao Huai and international spirits group Pernod Ricard to develop new products and expand market reach[50]. - The company plans to continue expanding its retail network and chain stores nationwide, focusing on transforming quality retail clients into chain stores[48]. - The company is exploring partnerships with international distributors to enhance global market reach, targeting a 15% increase in international sales[192]. - The company has completed a strategic acquisition of a local distillery, which is expected to increase production capacity by 40%[190]. Digital Transformation and E-commerce - The company is focused on expanding its market presence and adapting to new sales formats, including e-commerce, to enhance its competitive edge[5]. - The self-operated e-commerce platform, "Hua Zhi You Xuan," has been upgraded and renamed "Hua Zhi Jiu Hang Flagship Store," enhancing brand recognition and user experience[52]. - The company is accelerating its digital transformation to establish an integrated online and offline marketing network, focusing on self-operated e-commerce platforms and O2O services[155]. - The company aims to enhance its data processing capabilities through comprehensive upgrades to its information systems, facilitating integrated management across marketing, personnel, warehousing, and logistics[155]. Governance and Management - The company maintains independence from its controlling shareholder in business, personnel, assets, and finance, ensuring no unfair competition or transactions[168]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[163]. - The company has established a performance evaluation and incentive system linking management compensation to business performance[164]. - The company emphasizes transparent information disclosure, ensuring timely and accurate communication with investors[165]. - The company has established an independent financial department with dedicated personnel, ensuring compliance with accounting standards and effective internal control systems[173]. Sustainability and Corporate Responsibility - The management team has emphasized the importance of sustainability initiatives, aiming for a 25% reduction in carbon footprint by 2025[184]. - The company is committed to balancing the interests of shareholders, employees, and society to promote sustainable development[165].