Three Squirrels(SZ:300783)2022-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥4.11 billion, a decrease of 21.80% compared to ¥5.26 billion in the same period last year[28]. - The net profit attributable to shareholders for the first half of 2022 was approximately ¥82.13 million, down 76.65% from ¥351.82 million in the previous year[28]. - The net profit after deducting non-recurring gains and losses was approximately ¥24.17 million, a decline of 90.84% compared to ¥263.98 million in the same period last year[28]. - The basic earnings per share for the first half of 2022 was ¥0.2048, a decrease of 76.78% from ¥0.8820 in the previous year[28]. - The total assets at the end of the reporting period were approximately ¥3.62 billion, down 27.99% from ¥5.03 billion at the end of the previous year[28]. - The net assets attributable to shareholders at the end of the reporting period were approximately ¥2.28 billion, an increase of 1.12% from ¥2.26 billion at the end of the previous year[28]. - The company's cash flow from operating activities was approximately ¥294.69 million, a slight decrease of 0.35% compared to ¥295.74 million in the same period last year[28]. - The weighted average return on net assets was 3.60%, down 12.54% from 16.14% in the previous year[28]. - The company reported a revenue of 4.114 billion yuan for the first half of 2022, a decrease of 21.80% year-on-year[76]. - Net profit attributable to the parent company was 82.1343 million yuan, down 76.65% compared to the previous year[76]. Revenue Sources - The company reported a total revenue of 38.51 billion yuan from its main brand, Three Squirrels, and 2.61 billion yuan from its sub-brand, Little Deer Blue, during the reporting period[51]. - Third-party e-commerce platforms generated 30.13 billion yuan in revenue, accounting for 73.25% of total revenue[52]. - Tmall's revenue was 11.97 billion CNY, down 25.56% year-on-year[53]. - JD's revenue was 11.19 billion CNY, down 21.64% year-on-year[53]. - Offline sales from feeding stores generated 339 million CNY, while alliance stores generated 298 million CNY, and new distribution generated 432 million CNY[54]. Store and Distribution Strategy - The total number of feeding stores decreased by 56 to 85, with a total area of 16,167.73 square meters[58]. - The total number of alliance stores decreased by 182 to 780, with a total area of 48,672.47 square meters[61]. - The company opened 1 new feeding store and 37 new alliance stores during the reporting period[54]. - The company plans to shift its store strategy from extensive expansion to sustainable management of quality stores due to the impact of the pandemic and SKU reduction[62]. - The company aims to optimize underperforming stores as part of its transformation strategy[62]. - The number of distributors increased by 282 during the reporting period, bringing the total to 546 distributors[65]. - The company has established 7 distribution centers in major cities, enhancing its logistics operations[69]. Research and Development - The company invested 22.89 million yuan in research and development, ranking among the top in the Chinese snack food industry[42]. - The company has applied for 1,403 copyrights and 430 patents, with a high patent authorization rate in the snack food sector[44]. - The company has developed a robust intellectual property protection system, ranking first in the industry for the number of intellectual property rights[113]. Production and Supply Chain - The company has established a comprehensive supply chain management system covering R&D, procurement, production, testing, warehousing, and logistics[41]. - The company has built a leading automated nut packaging factory and is actively developing a manufacturing demonstration factory, with the first Daily Nuts factory commencing operations in August this year[47]. - The first nut factory, with a cleanroom level of 300,000 and 36 fully automated production lines, began trial operations in July 2022 and officially commenced production in August 2022[81]. - The company has established raw material planting bases in regions such as Yunnan and Guangxi, and has been purchasing over 10,000 tons of walnut raw materials annually from Xinjiang since 2019, promoting local nut industry development[137]. Risk Management - The company has outlined potential risk factors and countermeasures in its report, emphasizing the importance of investor awareness regarding future plans and forecasts[5]. - The company faces risks related to raw material price fluctuations, which could impact profit margins if product prices do not adjust accordingly[109]. - The ongoing COVID-19 pandemic poses uncertainties that may adversely affect the company's operations, including raw material procurement, logistics, and sales[116]. - The company is actively preparing for potential risks and challenges arising from the pandemic[116]. Corporate Social Responsibility - The company donated 5,000 "health energy packages" to frontline epidemic prevention personnel during the Wuhu outbreak in April 2022, demonstrating its commitment to social responsibility[140]. - The company has established a brand called "Help a Hand" to support local farmers, purchasing nearly 80,000 pounds of rice to boost local agricultural sales[136]. - The company has actively participated in public welfare activities, including targeted assistance in Anhui Province, contributing to social harmony[136]. Employee Relations - The company has provided 24 types of employee benefits, including marriage, funeral, and medical allowances, as well as annual health check-ups and accommodation benefits, enhancing employee satisfaction[140]. - The employee stock ownership plan involves 20 employees holding a total of 3,621,030 shares, representing 0.90% of the company's total equity[129]. Legal and Compliance - The company has not faced any significant legal disputes or regulatory penalties during the reporting period, indicating stable operational compliance[152]. - The company has maintained a commitment to tax compliance, with its subsidiary recognized as one of the top ten industrial enterprises in tax contributions in Wuhu City[141]. - The company emphasizes strict compliance with government pandemic prevention measures to ensure stable operations[116]. Shareholder Information - The total number of shares is 401,000,000, with 43.40% being restricted shares (174,024,000) and 56.60% being unrestricted shares (226,976,000)[181]. - The number of common shareholders at the end of the reporting period is 36,623, with no preferred shareholders[184]. - The largest shareholder, Zhang Liaoyuan, holds 39.97% of the shares, totaling 160,272,000, with 21,283,246 shares pledged[184]. - LT Growth Investment IX (HK) Limited holds 14.38% of the shares, totaling 57,644,020[187]. - Nice Growth Limited holds 13.57% of the shares, totaling 54,413,400, with a decrease of 12,280,900 shares during the reporting period[187].