WLY(SZ:000858)2022-04-28 16:00Financial Performance - The company's operating revenue for 2021 was CNY 66.21 billion, an increase of 15.51% compared to CNY 57.32 billion in 2020[9]. - The net profit attributable to shareholders for 2021 was CNY 23.38 billion, up 17.15% from CNY 19.95 billion in 2020[9]. - The net cash flow from operating activities reached CNY 26.77 billion, representing an 82.16% increase from CNY 14.70 billion in 2020[9]. - Basic earnings per share for 2021 were CNY 6.023, a 17.16% increase from CNY 5.141 in 2020[9]. - Total assets at the end of 2021 amounted to CNY 135.62 billion, a 19.08% increase from CNY 113.89 billion at the end of 2020[9]. - The net assets attributable to shareholders were CNY 99.07 billion at the end of 2021, up 15.59% from CNY 85.71 billion at the end of 2020[9]. - The weighted average return on equity for 2021 was 25.30%, an increase of 0.36 percentage points from 24.94% in 2020[9]. - The company reported a significant increase in cash inflows from operating activities due to higher sales and the maturity of bank acceptance bills[9]. Revenue Breakdown - In 2021, the company's total revenue reached approximately CNY 61.73 billion, with a year-on-year growth of 17.73%[21]. - Revenue from liquor products amounted to ¥61.73 billion, accounting for 93.24% of total revenue, with a year-on-year growth of 17.73%[41]. - The revenue from Wuliangye products specifically was ¥49.11 billion, which is 74.18% of total revenue, showing an increase of 11.46% from the previous year[40]. - The eastern region contributed ¥18.78 billion in revenue, a 32.40% increase year-on-year, representing 28.37% of total revenue[41]. - The southern region's revenue was ¥7.43 billion, reflecting a 32.12% increase year-on-year, accounting for 11.22% of total revenue[41]. Market Expansion and Strategy - The company plans to continue enhancing its brand value and market presence through innovative marketing and product strategies[17]. - The company has developed a comprehensive product line, including five major brands, to cater to diverse consumer needs[16]. - The number of distributors for the company's products increased by 93 to a total of 2,054, reflecting an expansion in market reach[22]. - The company is actively expanding its brand influence internationally, participating in events like the Dubai Expo and the Fortune Global 500 Summit[37]. - Market expansion plans include entering three new provinces, aiming for a 10% market share in these regions within two years[76]. Research and Development - The company is investing heavily in R&D, allocating 500 million yuan for the development of new technologies and products[76]. - Research and development expenses increased by 35.10% to approximately CNY 177.41 million, indicating a commitment to enhancing production processes[49]. - The company filed 50 patents related to the development of intelligent production lines in 2021, indicating a strong focus on innovation[50]. - The company aims to transform traditional brewing methods into modern intelligent brewing, enhancing product quality and stability[50]. Corporate Governance - The company has established a governance structure compliant with laws and regulations, ensuring independent operations from its controlling shareholders in aspects such as assets, personnel, and finance[74]. - The company has engaged in strategic discussions with various investment institutions, indicating a proactive approach to investor relations[73]. - The company has successfully maintained its operational independence from its controlling shareholders, ensuring no asset or fund occupation[74]. - The company revised its articles of association and related systems during the reporting period to enhance its management structure[74]. Environmental and Social Responsibility - The company has established an environmental management committee to oversee environmental protection efforts, led by the chairman[119]. - The company has implemented a "coal-to-gas" project, replacing coal with clean natural gas for energy supply[120]. - The company has established a five-year plan for targeted poverty alleviation and rural revitalization, focusing on sustainable development in assisted areas[122]. - The company donated 200 million CNY to improve basic education in four urban areas, supporting 10 educational enhancement projects[126]. Employee and Management - The total number of employees at the end of the reporting period was 25,803, with 17,446 in the parent company and 8,357 in major subsidiaries[102]. - The total pre-tax compensation for directors and senior management during the reporting period amounted to 14.08 million yuan[88]. - The company plans to conduct 130 company-level training sessions and 238 workshop-level training sessions in 2022 to enhance talent development[104]. - The management team highlighted the importance of digital transformation, with a goal to increase online sales by 30% in the coming year[76]. Financial Position - The total amount of funds raised in 2018 was ¥185,327.74 million, with ¥95,922.11 million utilized by the reporting period, accounting for 91.41% of the total raised[60]. - The company reported a significant decrease in investment amount for the reporting period to ¥5,625,000.00, a 99.23% drop compared to the previous year due to reduced capital injection into affiliated enterprises[58]. - The company’s cash dividend distribution plan for 2021 proposed a payment of 30.23 yuan (including tax) for every 10 shares, totaling approximately 11.73 billion yuan[107]. - The company’s distributable profit for the reporting period was approximately 47.03 billion yuan, with cash dividends accounting for 100% of the total profit distribution[107].