友好集团(600778) - 2024 Q2 - 季度财报

Section I Definitions This section defines common terms used in the report, such as "Youhao Group" referring to Xinjiang Youhao (Group) Co., Ltd., and "Reporting Period" referring to January 1, 2024, to June 30, 2024 - This section primarily defines common terms used in the report, such as "Youhao Group" referring to Xinjiang Youhao (Group) Co., Ltd., and "Reporting Period" referring to January 1, 2024, to June 30, 2024[8] Section II Company Profile and Key Financial Indicators This section provides an overview of the company's basic information, contact details, changes in fundamental circumstances, information disclosure, stock profile, and key financial performance metrics for the reporting period I. Company Information The company's full name is Xinjiang Youhao (Group) Co., Ltd., abbreviated as Youhao Group, with Yong Jun as the legal representative - Company full name: Xinjiang Youhao (Group) Co., Ltd[9] - Company abbreviation: Youhao Group[9] - Legal representative: Yong Jun[9] II. Contact Persons and Information The company's Board Secretary is Shi Lei, and the Securities Affairs Representative is Han Wei, both located at No. 548 Youhao North Road, Urumqi - Board Secretary: Shi Lei[10] - Securities Affairs Representative: Han Wei[10] - Contact address: No. 548 Youhao North Road, Urumqi[10] III. Brief Introduction to Changes in Basic Information The company's registered address changed in 2006 from "No. 30 Youhao South Road, Urumqi" to "No. 668 Youhao South Road, Urumqi", with the office address at No. 548 Youhao North Road, Urumqi, and no other changes during the reporting period - The company's registered address changed to No. 668 Youhao South Road, Urumqi in 2006[11] - The company's office address is No. 548 Youhao North Road, Urumqi[11] IV. Brief Introduction to Changes in Information Disclosure and Document Storage Locations The company's designated information disclosure newspapers are "Shanghai Securities News" and "China Securities Journal", with the semi-annual report published on the Shanghai Stock Exchange website, and documents stored at the company's Securities Investment Department at No. 548 Youhao North Road, Urumqi - Information disclosure newspapers: "Shanghai Securities News", "China Securities Journal"[13] - Report website: http://www.sse.com.cn[13](index=13&type=chunk) - Report storage location: Securities Investment Department of the company at No. 548 Youhao North Road, Urumqi[13] V. Company Stock Overview The company's A-shares are listed on the Shanghai Stock Exchange, with stock abbreviation Youhao Group and stock code 600778 - Stock type: A-shares[14] - Stock exchange listed on: Shanghai Stock Exchange[14] - Stock abbreviation: Youhao Group[14] - Stock code: 600778[14] VII. Company's Key Accounting Data and Financial Indicators In the first half of 2024, the company's operating revenue decreased by 8.16% year-on-year, but net profit attributable to shareholders turned losses into profits, from a loss of CNY 100.98 million in the prior year to a profit of CNY 7.94 million, while net cash flow from operating activities significantly decreased by 129.12% 2024年上半年主要会计数据 | 主要会计数据 | 本报告期（1-6月） | 上年同期 | 本报告期比上年同期增减 (%) | | :--- | :--- | :--- | :--- | | 营业收入 | 862,927,832.98 yuan | 939,608,578.53 yuan | -8.16 | | 归属于上市公司股东的净利润 | 7,936,683.72 yuan | -100,978,125.83 yuan | N/A | | 归属于上市公司股东的扣除非经常性损益的净利润 | 3,170,569.45 yuan | -102,813,959.19 yuan | N/A | | 经营活动产生的现金流量净额 | -57,174,014.18 yuan | 196,323,874.09 yuan | -129.12 | | 归属于上市公司股东的净资产（期末） | 220,173,095.39 yuan | 209,677,561.34 yuan（上年度末） | 5.01 | | 总资产（期末） | 3,795,072,956.87 yuan | 4,009,675,857.12 yuan（上年度末） | -5.35 | 2024年上半年主要财务指标 | 主要财务指标 | 本报告期（1-6月） | 上年同期 | 本报告期比上年同期增减 (%) | | :--- | :--- | :--- | :--- | | 基本每股收益（元／股） | 0.0255 | -0.3242 | N/A | | 稀释每股收益（元／股） | 0.0255 | -0.3242 | N/A | | 扣除非经常性损益后的基本每股收益（元／股） | 0.0102 | -0.3301 | N/A | | 加权平均净资产收益率（%） | 3.69 | -35.54 | 增加 39.23 个百分点 | | 扣除非经常性损益后的加权平均净资产收益率（%） | 1.48 | -36.18 | 增加 37.66 个百分点 | IX. Non-recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to CNY 4.77 million, primarily comprising government subsidies, fair value changes in financial assets, and other non-operating income and expenses 2024年上半年非经常性损益项目和金额 | 非经常性损益项目 | 金额 (yuan) | | :--- | :--- | | 计入当期损益的政府补助 | 387,986.72 | | 非金融企业持有金融资产和金融负债产生的公允价值变动损益以及处置金融资产和金融负债产生的损益 | 1,844,026.22 | | 除上述各项之外的其他营业外收入和支出 | 2,894,282.06 | | 减：所得税影响额 | 95,869.65 | | 少数股东权益影响额（税后） | 264,311.08 | | 合计 | 4,766,114.27 | Section III Management Discussion and Analysis This section provides a comprehensive discussion and analysis of the company's industry, core competitiveness, operating performance, and key financial changes during the reporting period I. Explanation of the Company's Industry and Main Business during the Reporting Period The company primarily engages in commercial retail, with diverse formats including department stores, shopping malls, supermarkets, and convenience stores, holding a leading position in Xinjiang, operating mainly through joint ventures, supplemented by self-operation and leasing - The company's main business is commercial retail, with formats covering department stores, shopping malls, supermarkets, and convenience stores[20] - As of the end of the reporting period, the company operates 13 department stores/shopping centers, 11 large/standard supermarkets, and 50 convenience stores in Xinjiang[20] - The operating model is primarily joint ventures, supplemented by self-operation and leasing, with the proportion of leasing formats gradually expanding in recent years[20] II. Analysis of Core Competitiveness during the Reporting Period The company's core competitiveness stems from its brand advantage (long-standing reputation, wide influence), scale advantage (high market share, strong synergy), product and format resource advantage (diversified positioning, quality brand partnerships), professional management model advantage (sound governance, systematic talent development), and experienced management team - Brand advantage: Youhao Group was established in 1958, and its "Youhao" and "Tianbai" brands have widespread influence in Xinjiang[21] - Scale advantage: Commercial layout covers multiple cities across Xinjiang, with a high market share in sales, demonstrating synergy and influence in areas such as investment attraction, procurement, and marketing[21] - Product and format resource advantage: Stores are positioned with a high, medium, and low combination, offering diverse formats and long-term partnerships with numerous well-known brands[21] - Professional management model advantage: Sound governance structure, comprehensive operational management system, and systematic talent development mechanism[21] - Management team advantage: Experienced middle and senior management and core business teams capable of grasping market trends and adjusting marketing strategies[21] III. Discussion and Analysis of Operating Performance During the reporting period, the company achieved operating revenue of CNY 863 million, a year-on-year decrease of 8.16%, but net profit attributable to shareholders turned losses into profits at CNY 7.94 million, primarily due to a reduced impact from the prior year's significant investment income reduction caused by a joint venture's land appreciation tax payment 2024年上半年经营业绩 | 指标 | 本报告期（1-6月） | 上年同期 | 同比变动 | | :--- | :--- | :--- | :--- | | 营业收入 | 86,292.78 ten thousand yuan | 93,960.86 ten thousand yuan | -8.16% | | 归属于上市公司股东的净利润 | 793.67 ten thousand yuan | -10,097.81 ten thousand yuan | 扭亏为盈 | | 归属于上市公司股东扣除非经常性损益的净利润 | 317.06 ten thousand yuan | -10,281.40 ten thousand yuan | 扭亏为盈 | - The main reason for turning losses into profits: In the prior year, the associate company Xinjiang Huiyou Real Estate Development Co., Ltd. paid CNY 364.69 million in land appreciation tax, which reduced the company's investment income by CNY 159.80 million, significantly impacting the prior year's performance[23] - In the current period, Huiyou Real Estate incurred CNY 21.61 million in late fees for unpaid taxes, resulting in a loss of CNY 23.43 million for the period, which reduced the company's investment income by CNY 11.01 million and still had a significant impact on the current period's performance[23] IV. Key Operating Performance during the Reporting Period During the reporting period, the company's operating revenue declined due to market competition and rationalized consumption, but cash flows from investing and financing activities both turned positive due to increased investment recovery and borrowings; a joint venture's tax late fees led to a loss, negatively impacting the company's net profit, while the asset-liability structure saw a 19.00% increase in short-term borrowings and a decrease in cash and receivables (1) Analysis of Main Business The company's operating revenue decreased by 8.16% year-on-year, primarily due to intensified market competition and more rational consumer spending, with operating costs, selling expenses, and administrative expenses all decreasing, while financial expenses slightly increased due to lower interest income, and net cash flow from operating activities significantly dropped by 129.12% due to reduced cash inflows and increased operating payables 财务报表相关科目变动分析 | 科目 | 本期数 (yuan) | 上年同期数 (yuan) | 变动比例 (%) | | :--- | :--- | :--- | :--- | | 营业收入 | 862,927,832.98 | 939,608,578.53 | -8.16 | | 营业成本 | 604,723,666.92 | 619,634,083.00 | -2.41 | | 销售费用 | 90,148,438.94 | 105,548,704.86 | -14.59 | | 管理费用 | 76,692,069.14 | 89,292,193.24 | -14.11 | | 财务费用 | 38,323,615.66 | 37,082,928.41 | 3.35 | | 经营活动产生的现金流量净额 | -57,174,014.18 | 196,323,874.09 | -129.12 | | 投资活动产生的现金流量净额 | 6,619,117.86 | -15,667,228.92 | N/A | | 筹资活动产生的现金流量净额 | 7,052,695.15 | -30,367,003.62 | N/A | - Reasons for decreased operating revenue: Intensified competition in the consumer market and increasingly rational consumer spending[23] - Reasons for significant decrease in net cash flow from operating activities: Reduced cash inflows due to decreased operating revenue and increased operating payables[23] (2) Explanation of Significant Profit Changes Caused by Non-Core Businesses The associate company, Xinjiang Huiyou Real Estate Development Co., Ltd., incurred CNY 21.61 million in tax late fees, resulting in a CNY 23.43 million loss for the current period, which reduced the company's investment income by CNY 11.01 million and significantly impacted its net profit - Huiyou Real Estate Co., Ltd. incurred CNY 21.61 million in tax late fees, resulting in a loss of CNY 23.43 million for the current period[24] - This matter reduced the company's investment income by CNY 11.01 million for the current period, significantly impacting the company's net profit[24] (3) Analysis of Assets and Liabilities At the end of the reporting period, total assets decreased by 5.35% year-on-year, while net assets attributable to shareholders increased by 5.01%; short-term borrowings rose by 19.00% due to increased secured loans, while cash, receivables, inventory, investment properties, long-term equity investments, fixed assets, right-of-use assets, long-term borrowings, and lease liabilities all decreased 资产及负债状况变动 | 项目名称 | 上年期末数 (yuan) | 本期期末数 (yuan) | 本期期末金额较上年期末变动比例 (%) | | :--- | :--- | :--- | :--- | | 货币资金 | 287,108,751.78 | 243,797,827.54 | -15.09 | | 应收款项 | 52,442,201.96 | 46,120,730.39 | -12.05 | | 存货 | 524,257,318.15 | 515,126,493.09 | -1.74 | | 投资性房地产 | 87,405,003.25 | 85,482,496.47 | -2.20 | | 长期股权投资 | 180,921,160.58 | 171,258,364.23 | -5.34 | | 固定资产 | 1,582,692,395.75 | 1,535,941,369.59 | -2.95 | | 使用权资产 | 400,685,556.12 | 361,911,585.63 | -9.68 | | 短期借款 | 470,649,075.00 | 560,052,738.76 | 19.00 | | 长期借款 | 425,300,000.00 | 393,100,000.00 | -7.57 | | 租赁负债 | 407,125,405.88 | 388,461,852.36 | -4.58 | - Short-term borrowings increased by 19.00%, primarily due to an increase in secured loans[25] 期末主要资产受限情况 | 项目 | 余额 (yuan) | 受限原因 | | :--- | :--- | :--- | | 货币资金 | 12,723,940.91 | ETC tourism enterprises, mortgage loan deposits, employee housing reform and maintenance fund deposits, litigation frozen funds | | 固定资产 | 553,641,376.59 | Mortgage | | 无形资产 | 31,989,148.63 | Mortgage | | 合计 | 598,354,466.13 | / | (4) Analysis of Investment Status As of the first half of 2024, the company's financial assets measured at fair value (primarily securities investments) had a carrying amount of CNY 5.89 million at period-end, with a profit/loss of CNY 33,600 during the reporting period, while other equity instrument investments had a period-end balance of CNY 68.17 million, with fair value changes resulting in a CNY 3.01 million gain for the period - In the first half of 2024, the company's financial assets measured at fair value (primarily securities investments) had a period-end carrying amount of CNY 5.89 million, with a profit/loss of CNY 33,600 during the reporting period[28][30] 以公允价值计量的金融资产变动情况 | 资产类别 | 期初数 (yuan) | 本期公允价值变动损益 (yuan) | 计入权益的累计公允价值变动 (yuan) | 本期购买金额 (yuan) | 期末数 (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | 其他（非交易性权益工具投资） | 65,155,787.99 | | 50,218,200.14 | | 68,166,200.14 | | 其他（交易性金融资产） | 4,862,962.22 | | | 1,024,164.56 | 5,887,126.78 | | 合计 | 70,018,750.21 | 0 | 50,218,200.14 | 1,024,164.56 | 74,053,326.92 | (6) Analysis of Major Holding and Associate Companies Among the company's major holding subsidiaries, Xinjiang Youhao Group Korla Tianbai Commercial & Trade Co., Ltd. reported a net profit of CNY 4.29 million, a year-on-year decrease of 27.51%, while associate company Xinjiang Huiyou Real Estate Development Co., Ltd. incurred a loss of CNY 23.43 million for the period, contributing -CNY 11.01 million to the company's net profit, significantly impacting its performance 主要控股参股公司经营情况 | 公司名称 | 业务性质 | 注册资本 (ten thousand yuan) | 总资产 (ten thousand yuan) | 净资产 (ten thousand yuan) | 净利润 (ten thousand yuan) | 净利润同比增减 (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 新疆友好利通物流有限责任公司 | 物流 | 11,440.51 | 14,409.46 | 10,958.25 | -333.37 | N/A | | 新疆友好集团库尔勒天百商贸有限公司 | 商业 | 2,000.00 | 12,686.50 | 3,428.84 | 428.84 | -27.51 | | 新疆友好华骏房地产开发有限公司 | 房地产开发与销售 | 2,000.00 | 31,425.96 | -4,971.77 | -14.66 | N/A | | 新疆友好（集团）友好燃料有限公司 | 石油制品、润滑油销售 | 750.00 | 3,921.37 | 2,597.37 | -65.73 | -228.98 | | 新疆汇友房地产开发有限责任公司 | 房地产开发、销售 | 40,000 | 77,412.69 | 33,734.27 | -2,342.69 | N/A | - Xinjiang Huiyou Real Estate Development Co., Ltd. incurred a loss of CNY 23.43 million for the current period, contributing -CNY 11.01 million to the company's net profit, with its performance impact exceeding 10%[32] V. Other Disclosure Matters The company faces multiple risks including macroeconomic fluctuations, strategic transformation, intensified industry competition, financial risks, and rising operating costs, with an asset-liability ratio as high as 93.76%, indicating a potential for further increase in financial risk from continued bank borrowings (1) Potential Risks The company faces key risks including macroeconomic fluctuations, strategic transformation towards experience-based shopping centers and "new retail" models, intensified industry competition from local rivals and e-commerce, financial risks with an asset-liability ratio of 93.76%, and rising operating costs for property leases, labor, and promotions - Macroeconomic fluctuation risk: Retail business is highly dependent on regional economic development and consumer income and confidence, and a slowdown in economic growth may affect the company's performance[33] - Strategic transformation risk: The transformation from traditional department stores to one-stop experience-based shopping centers and "online + offline + logistics" new retail models increases business complexity, bringing management and operational risks[33][34] - Intensified industry competition risk: Development of local competitors, increased channel competition, and impact from e-commerce platforms may lead to a decline in market share and profitability[34] - Financial risk: The company's asset-liability ratio is as high as 93.76%, and continued reliance on bank loans will further increase financial risk[34] - Rising operating cost risk: Commercial property leasing costs, personnel wages, and promotional expenses are on an upward trend, posing significant pressure on operations[34] Section IV Corporate Governance This section outlines the company's shareholder meeting activities, changes in directors, supervisors, and senior management, and the absence of any profit distribution or capital reserve conversion plans for the reporting period I. Overview of Shareholders' Meetings During the reporting period, the company held its 2023 Annual Shareholders' Meeting on May 21, 2024, which approved various proposals including board/supervisory board work reports, financial statements, profit distribution plans, bank credit lines, accrual of employee compensation, small-amount rapid financing authorization, and wealth management product purchases, with all procedures being legal and effective - The 2023 Annual Shareholders' Meeting was held on May 21, 2024, and approved multiple proposals[35] - The meeting's agenda included the work reports of the Board of Directors and Supervisory Board, financial final accounts report, profit distribution plan, bank credit line, accrual of employee compensation, authorization for small-amount rapid financing, and purchase of wealth management products[35] - The convening and holding procedures, qualifications of the convener, attendees, voting methods, voting procedures, and voting results of the Shareholders' Meeting complied with relevant regulations and were legal and effective[36] II. Changes in Company Directors, Supervisors, and Senior Management Ms. Song Xiaojing resigned as a supervisor due to work adjustments, and the Board of Supervisors nominated Mr. Pan Shu as a new supervisor candidate, with the proposal to be submitted to the first extraordinary general meeting of shareholders in 2024 for deliberation - Ms. Song Xiaojing resigned from her position as a company supervisor due to work adjustments[38] - The Board of Supervisors nominated Mr. Pan Shu as a candidate for supervisor of the Tenth Supervisory Board[38] - This proposal will be submitted for deliberation at the first extraordinary general meeting of shareholders in 2024, to be held on August 30, 2024[39] III. Profit Distribution or Capital Reserve Conversion Plan The company has no profit distribution or capital reserve conversion plan for the current reporting period - For the current reporting period, the company has no profit distribution or capital reserve conversion plan[39] Section V Environment and Social Responsibility This section confirms the company is not a key polluting entity, adheres to environmental regulations, and actively promotes energy conservation and environmental protection in its operations I. Environmental Information The company is not a key polluting entity and strictly complied with environmental laws and regulations during the reporting period, with no environmental violations or pollution incidents, demonstrating its commitment to energy conservation and environmental protection through green product procurement and efficient energy management - The company's industry is commercial retail, and it is not classified as a key polluting entity by environmental protection authorities[39] - During the reporting period, the company and its subsidiaries strictly complied with national environmental laws and regulations, with no violations or pollution incidents, and no administrative penalties were imposed[39] - The company continuously reduces energy consumption and operates in an environmentally friendly manner by procuring "green, organic, pollution-free, and environmentally friendly" certified products, and by implementing efficient energy use for water, electricity, office supplies, and equipment in its daily operations[41] Section VI Significant Matters This section details the fulfillment of commitments by the controlling shareholder, significant related-party transactions, and other important matters affecting investor decisions, including a projected annual loss and approved financing and investment plans I. Fulfillment of Commitments Controlling shareholder Dashang Group committed to resolving horizontal competition, standardizing related-party transactions, actively maintaining the company's brand image, not reducing shareholdings within 36 months, ensuring stability of the management team and employees, and promoting the Hongguangshan Convention and Exhibition Center project, while currently implementing a plan to increase its A-share holdings - Dashang Group committed to resolving horizontal competition, avoiding potential horizontal competition, and standardizing related-party transactions[42] - Dashang Group committed to actively maintaining the company's commercial brand and positive regional image, and not reducing its shareholdings within 36 months after acquiring the shares[42] - Dashang Group committed to maintaining the stability of the company's management team and employees, and actively promoting the Hongguangshan Convention and Exhibition Center project[43] - Dashang Group is currently implementing a plan to increase its A-share holdings in the company; as of July 24, 2024, it held 84,500,723 shares, accounting for 27.13% of the total share capital[43] X. Significant Related-Party Transactions The company engages in daily related-party transactions with controlling shareholder Dashang Group and its subsidiaries, and Dashang Co., Ltd. and its subsidiaries, primarily involving commodity procurement and acceptance of services; during the reporting period, commodity purchases from Dashang Co., Ltd. amounted to CNY 10.10 million, and system software service fees from Dashang Tiangou were CNY 100,000, with period-end payables to Dashang Co., Ltd. of CNY 10.00 million and receivables from Dashang Group of CNY 739,800 2024年1-6月日常关联交易发生额 | 关联方 | 关联交易类别 | 关联交易内容 | 2024年1-6月发生额 (ten thousand yuan) | | :--- | :--- | :--- | :--- | | 大商集团有限公司 | 购买商品 | 水产、水果、副食等 | 38.50 | | 大商茶业有限公司 | 购买商品 | 茶叶 | 15.41 | | 大商股份有限公司 | 购买商品 | 红酒、咖啡等 | 741.15 | | 大商股份有限公司大连澳牛新羊清真肉专卖分公司 | 购买商品 | 进口生鲜牛羊肉 | 269.13 | | 贝莱德（大连）啤酒有限公司 | 购买商品 | 啤酒 | 20.58 | | 哈恩橄榄油（大连）进口商贸有限公司 | 购买商品 | 橄榄油 | 9.21 | | 大连大商天狗电子商务有限公司 | 接受劳务 | 系统软件服务 | 10.00 | - The company has daily related-party transactions with Dashang Group Co., Ltd., Dashang Co., Ltd., and their subsidiaries[46] 关联债权债务往来期末余额 | 项目名称 | 关联方 | 期末账面余额 (yuan) | 期初账面余额 (yuan) | | :--- | :--- | :--- | :--- | | 应付商品款 | 大商茶业有限公司 | 248,779.78 | 111,625.84 | | 应付商品款 | 大商股份有限公司 | 10,004,481.99 | 4,923,456.00 | | 应付商品款 | 贝莱德（大连）啤酒有限公司 | 205,465.52 | 89,955.05 | | 应收商品款 | 大商集团有限公司 | 739,838.32 | 970,408.33 | XIII. Explanation of Other Significant Matters The company disclosed a 2023 annual pre-loss announcement, projecting a net loss of CNY 130 million, cancelled the re-appointment of its 2024 auditor, and approved accounting policy changes, accrual of CNY 23.49 million in long-term employee compensation, authorization for small-amount rapid financing up to CNY 300 million, and investment of up to CNY 100 million in short-term idle funds for wealth management products - In January 2024, the company issued a 2023 annual pre-loss announcement, projecting a net loss attributable to shareholders of CNY 130 million[49] - The company cancelled the proposal to re-appoint the 2024 auditor, which was originally scheduled for deliberation at the 2023 Annual Shareholders' Meeting[49] - The company approved the accounting policy change proposal, which does not involve retrospective adjustments to prior years and has no significant impact on the company's financial position and operating results[50] - The company accrued CNY 23.49 million in long-term employee compensation for arranging early retirement for some employees[50] - The Shareholders' Meeting authorized the Board of Directors to approve the issuance of shares to specific targets for a total financing amount not exceeding CNY 300 million and not exceeding 20% of the net assets at the end of the most recent year[50] - The company agreed to use short-term idle funds totaling no more than CNY 100 million to purchase highly secure, liquid, fixed-income or low-risk floating-income bank wealth management products[50] Section VII Share Changes and Shareholder Information This section details that there were no changes in the company's share capital during the reporting period and provides an overview of its shareholder structure, including the top ten shareholders and their respective holdings and pledges I. Changes in Share Capital During the reporting period, there were no changes in the company's total share capital or share structure - During the reporting period, there were no changes in the company's total share capital or share structure[51] II. Shareholder Information As of the end of the reporting period, the company had 14,283 common shareholders; among the top ten shareholders, Dashang Group Co., Ltd. held 26.47% as the largest shareholder, pledging 40 million shares, while Urumqi State-owned Assets Management (Group) Co., Ltd. and Urumqi Urban Construction Investment (Group) Co., Ltd. are both ultimately controlled by the Urumqi State-owned Assets Supervision and Administration Commission - As of the end of the reporting period, the total number of common shareholders was 14,283[51] 前十名股东持股情况 | 股东名称 | 报告期内增减 (shares) | 期末持股数量 (shares) | 比例 (%) | 股份状态 | 质押、标记或冻结数量 (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | 大商集团有限公司 | 4,564,000 | 82,436,723 | 26.47 | 质押 | 40,000,000 | | 乌鲁木齐国有资产经营（集团）有限公司 | 0 | 17,006,672 | 5.46 | 无 | | | 乌鲁木齐城市建设投资（集团）有限公司 | 0 | 14,170,000 | 4.55 | 无 | | | 张延民 | 5,264,200 | 5,800,700 | 1.86 | 无 | | | 刘新华 | 380,500 | 4,432,800 | 1.42 | 无 | | | 武古成 | 1,128,500 | 4,099,585 | 1.32 | 无 | | | 王东 | 1,751,100 | 3,768,900 | 1.21 | 无 | | | 新疆中恒汇实业有限公司 | 130,300 | 3,745,092 | 1.20 | 无 | | | 卜亚妮 | 0 | 3,717,319 | 1.19 | 无 | | | 冯天贵 | 1,541,100 | 3,696,300 | 1.19 | 无 | - The actual controller of Urumqi State-owned Assets Management (Group) Co., Ltd. and Urumqi Urban Construction Investment (Group) Co., Ltd. is the Urumqi State-owned Assets Supervision and Administration Commission[52] Section X Financial Report This section presents the company's comprehensive financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes on accounting policies, taxation, and specific financial items II. Financial Statements This section presents the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2024, comprehensively illustrating its financial position, operating results, and cash flow situation Consolidated Balance Sheet As of June 30, 2024, the company's consolidated total assets were CNY 3.80 billion, a 5.35% decrease from the beginning of the period, with total current assets of CNY 1.16 billion and total non-current assets of CNY 2.63 billion, while total liabilities amounted to CNY 3.56 billion and total owners' equity was CNY 237 million 合并资产负债表主要数据 | 项目 | 2024年6月30日 (yuan) | 2023年12月31日 (yuan) | | :--- | :--- | :--- | | 资产总计 | 3,795,072,956.87 | 4,009,675,857.12 | | 流动资产合计 | 1,162,899,743.46 | 1,255,724,422.60 | | 非流动资产合计 | 2,632,173,213.41 | 2,753,951,434.52 | | 负债合计 | 3,558,098,556.36 | 3,785,298,295.78 | | 所有者权益（或股东权益）合计 | 236,974,400.51 | 224,377,561.34 | Consolidated Income Statement From January to June 2024, the company achieved total operating revenue of CNY 863 million, a year-on-year decrease of 8.16%, with net profit of CNY 10.04 million, turning losses into profits, and net profit attributable to parent company shareholders of CNY 7.94 million, compared to -CNY 100.98 million in the prior year 合并利润表主要数据 | 项目 | 2024年1-6月 (yuan) | 2023年半年度 (yuan) | | :--- | :--- | :--- | | 营业总收入 | 862,927,832.98 | 939,608,578.53 | | 营业总成本 | 844,007,499.33 | 889,338,338.90 | | 利润总额 | 10,790,309.12 | -99,168,920.81 | | 净利润 | 10,037,988.84 | -98,079,525.04 | | 归属于母公司股东的净利润 | 7,936,683.72 | -100,978,125.83 | | 基本每股收益（元／股） | 0.0255 | -0.3242 | Consolidated Cash Flow Statement From January to June 2024, net cash flow from operating activities was -CNY 57.17 million, a significant year-on-year decrease of 129.12%, while net cash flow from investing activities turned positive at CNY 6.62 million, and net cash flow from financing activities also turned positive at CNY 7.05 million 合并现金流量表主要数据 | 项目 | 2024年1-6月 (yuan) | 2023年半年度 (yuan) | | :--- | :--- | :--- | | 经营活动产生的现金流量净额 | -57,174,014.18 | 196,323,874.09 | | 投资活动产生的现金流量净额 | 6,619,117.86 | -15,667,228.92 | | 筹资活动产生的现金流量净额 | 7,052,695.15 | -30,367,003.62 | | 现金及现金等价物净增加额 | -43,502,201.17 | 150,289,641.55 | | 期末现金及现金等价物余额 | 231,073,886.63 | 400,571,774.46 | III. Company Basic Information The company, formerly Urumqi Youhao Department Store, was listed on the Shanghai Stock Exchange in 1996; as of June 30, 2024, its total share capital was 311.49 million shares and registered capital was CNY 311.49 million, with Dashang Group Co., Ltd. as the parent company and Mr. Niu Gang as the ultimate controlling party, primarily engaged in commercial retail with diversified business scope including food sales, real estate development, and logistics - The company, formerly Urumqi Youhao Department Store, was listed on the Shanghai Stock Exchange on December 3, 1996[78] - As of June 30, 2024, the company's total issued share capital was 311.49 million shares, and its registered capital was CNY 311.49 million[78] - The parent company is Dashang Group Co., Ltd., and the ultimate controlling party is Mr. Niu Gang[78] - The company's main business is commercial retail, with a wide range of operations including food sales, pharmaceutical retail, catering services, real estate development and sales, and logistics[78] IV. Basis of Financial Statement Preparation The company's financial statements are prepared on a going concern basis, with twelve subsidiaries included in the consolidated scope for the current period, an increase of two from the prior period, and no significant doubts about its going concern ability were identified for the next 12 months from the end of the reporting period - The company's financial statements are prepared on a going concern basis[79] - A total of twelve subsidiaries were included in the consolidation scope for the current period, an increase of two from the prior period[79] - The company evaluated its ability to continue as a going concern for the 12 months from the end of the reporting period and found no significant doubts or circumstances regarding its going concern ability[80] V. Significant Accounting Policies and Estimates This section details the company's specific accounting policies and significant estimates for revenue recognition, customer loyalty programs, expected credit losses on receivables, inventory impairment, long-term asset impairment, useful lives and salvage values of fixed assets, fair value of financial assets, and income tax; during the reporting period, accounting policy changes were made in accordance with Ministry of Finance requirements, without retrospective adjustment or significant impact on financial position and operating results 10. Financial Instruments The company classifies financial assets into those measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss, based on business models and contractual cash flow characteristics; financial liabilities are classified as those measured at fair value through profit or loss and other financial liabilities, with impairment provisions for receivables and other receivables based on expected credit losses - Financial asset classification: Measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss[94] - Financial liability classification: Financial liabilities measured at fair value through profit or loss, and other financial liabilities[95] - The company applies impairment accounting for financial assets measured at amortized cost, notes receivable, accounts receivable, and other receivables based on expected credit losses[97] 15. Inventories The company's inventory categories include raw materials, revolving materials, merchandise inventory, land held for development, development costs, and developed products; commercial inventory is valued using the first-in, first-out method, while other industries use the weighted average method, and inventory impairment provisions are made at the end of the period based on the lower of cost and net realizable value - Inventory categories: Raw materials, revolving materials, merchandise inventory, land held for development, development costs, developed products, contract performance costs, etc[109] - Inventory issuance valuation method: Commercial inventory uses the first-in, first-out method, while other industries use the weighted average method[109] - Inventory impairment provision: At period-end, provisions are made or adjusted based on the lower of inventory cost and net realizable value[111] 20. Fixed Assets Fixed assets are initially measured at cost and depreciated over their estimated useful lives after deducting estimated net salvage value; the depreciation period and annual depreciation rate for each class of fixed assets are determined based on their nature and usage, and reviewed at year-end - Fixed asset recognition criteria: Economic benefits related to the fixed asset are likely to flow into the enterprise, and its cost can be reliably measured[118] - Fixed asset depreciation method: Depreciated over its estimated useful life after deducting estimated net salvage value from its carrying amount[119] 各类固定资产折旧年限和年折旧率 | 类别 | 折旧年限（年） | 残值率 | 年折旧率 | | :--- | :--- | :--- | :--- | | 房屋及建筑物 | 3-46 | 4/5 | 2.07-31.67 | | 机械设备 | 5-20 | 5 | 4.75-19 | | 运输设备 | 4-20 | 5 | 4.75-23.75 | | 电子设备 | 3-27 | 5 | 3.52-31.67 | | 其他设备 | 3-30 | 5 | 3.17-31.67 | 29. Revenue The company's revenue primarily derives from merchandise retail, property leasing, provision of labor or services, and real estate sales, with revenue recognized when customers obtain control of the related goods or services at the allocated transaction price; merchandise retail revenue is recognized when the significant risks and rewards of ownership are transferred to the buyer, and customer loyalty points are treated as contract liabilities - Main business types for revenue: Merchandise retail, property leasing, provision of labor or services, and real estate sales[137] - Revenue recognition principle: Revenue is recognized when the customer obtains control of the related goods or services, at the transaction price allocated to that performance obligation[137] - Merchandise retail revenue recognition: Recognized when the significant risks and rewards of ownership of the goods are transferred to the buyer[137] - Customer loyalty points treatment: The consideration received or receivable from sales is allocated between the revenue generated from the current sale of goods or services and the fair value of the loyalty points, with the fair value of loyalty points recognized as a contract liability[137] 33. Leases As a lessee, the company recognizes right-of-use assets and lease liabilities for leases other than short-term and low-value asset leases, with right-of-use assets initially measured at cost and subsequently depreciated, and lease liabilities initially measured at the present value of unpaid lease payments with interest expense recognized; as a lessor, the company classifies leases as finance leases or operating leases and applies corresponding accounting treatments - As a lessee, the company recognizes right-of-use assets and lease liabilities for leases other than short-term leases and leases of low-value assets[144] - Right-of-use assets are initially measured at cost and depreciated over the shorter of the remaining useful life of the leased asset or the lease term[144] - Lease liabilities are initially measured at the present value of the unpaid lease payments at the commencement date of the lease, and interest expense is calculated using a fixed discount rate[144] - As a lessor, leases are classified as finance leases or operating leases, and corresponding accounting treatments are applied[145][146] 35. Changes in Significant Accounting Policies and Estimates The accounting policy changes in the current reporting period were implemented in accordance with the Ministry of Finance's requirements for enterprise accounting standards, do not involve retrospective adjustments to prior years, and will not have a significant impact on the company's financial position and operating results, with no major changes in accounting estimates during this period - The accounting policy changes in the current reporting period were implemented in accordance with the requirements of relevant enterprise accounting standards issued by the Ministry of Finance[149] - The accounting policy changes do not involve retrospective adjustments to prior years and will not have a significant impact on the company's financial position and operating results[149] - There were no major changes in accounting estimates during the current period[150] VI. Taxation The company's main taxes include VAT, consumption tax, urban maintenance and construction tax, corporate income tax, and property tax; the company and some subsidiaries enjoy a 15% corporate income tax preferential rate under the Western Development policy, some subsidiaries qualify for small and micro-enterprise income tax benefits, Youhao Travel Agency enjoys VAT exemptions as a small-scale taxpayer, and the company also benefits from tax incentives for employing demobilized soldiers and key employment groups 1. Main Tax Categories and Rates The company's main tax categories include VAT (13%, 9%, 6%, 5% or 3%), consumption tax (5%), urban maintenance and construction tax (7%), corporate income tax (15%, 20%, 25%), and property tax (1.2% or 12%), with different corporate income tax rates applicable to the company and its subsidiaries 主要税种及税率 | 税种 | 计税依据 | 税率 | | :--- | :--- | :--- | | 增值税 | 境内销售；提供加工、修理修配劳务；提供有形动产租赁服务 | 13%、9%、0% | | | 不动产租赁服务，销售不动产，转让土地使用权 | 9% | | | 其他应税销售服务行为 | 6% | | | 简易计税方法 | 5%或3% | | 消费税 | 金银首饰、铂金首饰和钻石及钻石饰品应纳税销售额 | 5% | | 城市维护建设税 | 实际缴纳流转税税额 | 7% | | 企业所得税 | 应纳税所得额 | 15%、20%、25% | | 房产税 | 按照房产原值的70%（或租金收入）为纳税基准 | 1.2%（12%） | 不同企业所得税税率纳税主体 | 纳税主体名称 | 所得税税率（%） | | :--- | :--- | | 新疆友好（集团）股份有限公司 | 15% | | 新疆友好集团库尔勒天百商贸有限公司 | 15% | | 新疆友好（集团）友好源创文化传媒有限公司 | 20% | | 新疆友好集团友好旅行社有限公司 | 20% | | 新疆友好利通物流有限责任公司 | 15% | | 新疆友好阳光物业服务有限责任公司 | 25% | | 新疆友好华骏房地产开发有限公司 | 25% | | 新疆友好（集团）友好燃料有限公司 | 20% | | 新疆友好集团保安服务有限责任公司 | 20% | | 新疆友享生活贸易有限公司 | 20% | | 新疆友好集团友佳贸易有限公司 | 20% | | 新疆友好电子商务科技有限公司 | 20% | | 新疆友好进出口贸易有限公司 | 20% | 2. Tax Incentives The company, Korla Tianbai, and Litong Logistics enjoy a 15% corporate income tax preferential rate under the Western Development strategy; some subsidiaries qualify for small and micro-enterprise income tax benefits; Youhao Travel Agency, as a small-scale VAT taxpayer, enjoys VAT exemptions; and the company also benefits from tax incentives for employing demobilized soldiers and key employment groups - The company, Korla Tianbai, and Litong Logistics enjoy a 15% corporate income tax preferential rate under the Western Development strategy[152] - Some subsidiaries that meet the criteria for small and micro-enterprises enjoy a preferential policy where the portion of annual taxable income not exceeding CNY 1 million is included in taxable income at 25% and taxed at a 20% rate[152] - Youhao Travel Agency, as a small-scale VAT taxpayer, enjoys VAT exemption for monthly sales below CNY 100,000, or a reduced 1% collection rate for taxable sales revenue subject to a 3% collection rate[152] - The company can enjoy tax incentives, including sequential deductions from VAT, urban maintenance and construction tax, education surcharge, local education surcharge, and corporate income tax, for employing demobilized soldiers and key employment groups such as registered impoverished individuals[152] VII. Notes to Consolidated Financial Statement Items This section provides detailed explanations for each item in the consolidated financial statements, covering cash and cash equivalents, various receivables, inventories, investment properties, fixed assets, construction in progress, right-of-use assets, intangible assets, long-term deferred expenses, deferred income tax assets/liabilities, restricted assets, various borrowings, payables, contract liabilities, employee compensation, taxes payable, deferred income, share capital, capital reserves, other comprehensive income, surplus reserves, undistributed profits, operating revenue and costs, various expenses, other income, investment income, fair value change gains, credit impairment losses, asset disposal gains, non-operating income and expenses, income tax expenses, cash flow statement items, and lease information 1. Cash and Cash Equivalents At period-end, the company's cash and cash equivalents balance was CNY 244 million, a 15.09% decrease from the beginning of the period, primarily consisting of bank deposits 货币资金构成 | 项目 | 期末余额 (yuan) | 期初余额 (yuan) | | :--- | :--- | :--- | | 库存现金 | 1,545,130.07 | 1,435,641.63 | | 银行存款 | 242,038,260.32 | 284,462,630.40 | | 其他货币资金 | 214,437.15 | 1,204,438.65 | | 合计 | 243,797,827.54 | 287,108,751.78 | 3. Notes Receivable At period-end, the notes receivable balance was CNY 7.27 million, a 54.85% decrease from the beginning of the period, mainly due to a reduction in group purchase customers using notes for settlement, comprising CNY 4.70 million in bank acceptance notes and CNY 2.57 million in commercial acceptance notes, with CNY 400,000 in pledged notes receivable 应收票据分类列示 | 项目 | 期末余额 (yuan) | 期初余额 (yuan) | | :--- | :--- | :--- | | 银行承兑票据 | 4,695,126.58 | 5,703,500.00 | | 商业承兑票据 | 2,574,000.00 | 10,395,000.00 | | 合计 | 7,269,126.58 | 16,098,500.00 | - At period-end, bank acceptance notes among the notes receivable that had been endorsed or discounted and were not yet due on the balance sheet date amounted to CNY 400,000[157] - The period-end balance of notes receivable decreased by 54.85% compared to the beginning of the period, primarily due to a reduction in group purchase customers using notes for settlement[162] 4. Accounts Receivable At period-end, the carrying amount of accounts receivable was CNY 47.00 million, with 97.64% having an aging within 1 year; bad debt provisions amounted to CNY 880,200, resulting in a net carrying value of CNY 46.12 million, and the top five debtors accounted for 43.47% of the total period-end balance of accounts receivable and contract assets 应收账款按账龄披露 | 账龄 | 期末账面余额 (yuan) | 期初账面余额 (yuan) | | :--- | :--- | :--- | | 1年以内 | 45,889,533.78 | 51,904,154.28 | | 1至2年 | 40,265.24 | 58,310.86 | | 2至3年 | 290,682.40 | 877,104.72 | | 3年以上 | 780,451.67 | 424,599.36 | | 合计 | 47,000,933.09 | 53,264,169.22 | 应收账款坏账准备计提情况 | 类别 | 期末账面余额 (yuan) | 比例 (%) | 坏账准备 (yuan) | 计提比例 (%) | 账面价值 (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | 按组合计提坏账准备 | 47,000,933.09 | 100.00 | 880,202.70 | 1.87 | 46,120,730.39 | 按欠款方归集的期末余额前五名的应收账款和合同资产情况 | 单位名称 | 应收账款和合同资产期末余额 (yuan) | 占应收账款和合同资产期末余额合计数的比例 (%) | | :--- | :--- | :--- | | 银联商务股份有限公司 | 8,791,286.60 | 18.70 | | 中国石油天然气股份有限公司独山子石化分公司 | 5,502,667.73 | 11.71 | | 双钱集团（新疆）昆仑轮胎有限公司 | 2,816,536.02 | 5.99 | | 新疆联合利盈实业有限公司 | 1,698,730.00 | 3.61 | | 新疆昆仑工程轮胎有限责任公司 | 1,622,968.44 | 3.45 | | 合计 | 20,432,188.79 | 43.47 | 6. Other Receivables At period-end, the carrying amount of other receivables was CNY 204 million, a slight decrease from the beginning of the period, with inter-company other payables being the largest component; bad debt provisions amounted to CNY 41.72 million, and the top five debtors, primarily for demolition compensation and inter-company balances, accounted for 78.15% of the total period-end balance of other receivables 其他应收款按账龄披露 | 账龄 | 期末账面余额 (yuan) | 期初账面余额 (yuan) | | :--- | :--- | :--- | | 1年以内 | 66,005,663.06 | 69,048,372.49 | | 1至2年 | 3,423,718.11 | 74,416,484.17 | | 2至3年 | 73,017,733.27 | 6,784,406.31 | | 3年以上 | 61,836,696.75 | 59,966,583.03 | | 合计 | 204,283,811.19 | 210,215,846.00 | 其他应收款按款项性质分类 | 款项性质 | 期末账面余额 (yuan) | 期初账面余额 (yuan) | | :--- | :--- | :--- | | 员工备用金等借款 | 609,902.89 | 1,284,821.92 | | 保证金、押金 | 5,098,013.62 | 3,723,164.99 | | 企业间其他往来等 | 198,575,894.68 | 205,207,859.09 | | 合计 | 204,283,811.19 | 210,215,846.00 | 按欠款方归集的期末余额前五名的其他应收款情况 | 单位名称 | 期末余额 (yuan) | 占其他应收款期末余额合计数的比例 (%) | 款项的性质 | 账龄 | | :--- | :--- | :--- | :--- | :--- | | 乌鲁木齐经济技术开发区房屋征收与补偿管理办公室 | 72,735,016.90 | 35.61 | 拆迁补偿款 | 2-3年 | | 新疆广汇信邦房地产开发有限公司 | 50,996,483.86 | 24.96 | 往来款 | 5年以上 | | 乌鲁木齐高新技术产业开发区房屋征收与补偿管理办公室 | 31,631,873.00 | 15.48 | 拆迁补偿款 | 1-2年 | | 新疆世纪众邦国际贸易有限公司 | 2,527,921.03 | 1.24 | 往来款 | 5年以上 | | 新疆永盛合创商贸有限公司 | 1,758,759.94 | 0.86 | 租金 | 1年以内，1-2年 | | 合计 | 159,650,054.73 | 78.15 | / | / | 7. Inventories At period-end, the carrying value of inventories was CNY 515 million, a slight decrease from the beginning of the period, primarily composed of merchandise inventory, development costs, and developed products; the inventory impairment provision balance was CNY 15,000, a decrease of CNY 171,900 from the beginning of the period, mainly due to the sale of self-operated goods for which impairment had been recognized 存货分类 | 项目 | 期末账面余额 (yuan) | 存货跌价准备/合同履约成本减值准备 (yuan) | 账面价值 (yuan) | | :--- | :--- | :--- | :--- | | 原材料 | 923,713.94 | | 923,713.94 | | 库存商品 | 207,176,530.55 | 15,035.98 | 207,161,494.57 | | 开发成本 | 291,949,481.03 | | 291,949,481.03 | | 开发产品 | 14,907,965.00 | | 14,907,965.00 | | 低值易耗品 | 183,838.55 | | 183,838.55 | | 合计 | 515,141,529.07 | 15,035.98 | 515,126,493.09 | 存货跌价准备及合同履约成本减值准备 | 项目 | 期初余额 (yuan) | 本期减少金额 (转回或转销) (yuan) | 期末余额 (yuan) | | :--- | :--- | :--- | :--- | | 库存商品 | 186,901.25 | 171,865.27 | 15,035.98 | | 合计 | 186,901.25 | 171,865.27 | 15,035.98 | - Self-operated goods for which inventory impairment provisions had been made have been sold[180] 13. Fixed Assets At period-end, the carrying value of fixed assets was CNY 1.54 billion, a 2.95% decrease from the beginning of the period, primarily consisting of buildings and structures; multiple properties and land parcels are pledged for bank borrowings, involving significant amounts 固定资产账面价值 | 项目 | 期末账面价值 (yuan) | 期初账面价值 (yuan) | | :--- | :--- | :--- | | 房屋及建筑物 | 1,408,277,345.08 | 1,449,810,283.86 | | 机器设备 | 5,071,584.60 | 5,404,267.54 | | 运输工具 | 18,457,560.28 | 19,570,341.54 | | 电子设备 | 5,914,179.47 | 6,452,535.06 | | 其他设备 | 18,909,862.01 | 18,983,674.77 | | 装修费 | 79,310,838.15 | 82,471,292.98 | | 合计 | 1,535,941,369.59 | 1,582,692,395.75 | - The company has pledged multiple properties, including Urumqi Tianbai property, Jiaheyuan Supermarket, Youhao Grand Hotel, Kuitun Tianbai, Youhao Department Store Phase I/II, Yili Tianbai, Shihezi Youhao, and Dushanzi Youhao, to banks for long-term and short-term borrowings[192] - The carrying value of buildings and structures for which property certificates have not been completed is CNY 122.26 million, due to ongoing processing, the property developer not having completed relevant procedures, or unified processing by the property management company[192] 19. Assets with Restricted Ownership or Use Rights At period-end, the company's total assets with restricted ownership or use rights amounted to CNY 598 million, primarily including CNY 12.72 million in restricted cash, CNY 554 million in pledged fixed assets, and CNY 31.99 million in pledged intangible assets 所有权或使用权受限资产情况 | 项目 | 期末账面余额 (yuan) | 受限原因 | | :--- | :--- | :--- | | 货币资金 | 12,723,940.91 | Tourism enterprises, ETC and mortgage loan deposits, employee housing reform and maintenance fund deposits, litigation frozen funds | | 固定资产 | 553,641,376.59 | Mortgage | | 无形资产 | 31,989,148.63 | Mortgage | | 合计 | 598,354,466.13 | / | - Among the restricted cash, CNY 6.27 million represents funds frozen due to litigation[209] 20. Short-term Borrowings At period-end, the short-term borrowings balance was CNY 560 million, a 19.00% increase from the beginning of the period, primarily comprising CNY 479 million in secured loans and CNY 80 million in unsecured loans 短期借款分类 | 项目 | 期末余额 (yuan) | 期初余额 (yuan) | | :--- | :--- | :--- | | 抵押借款 | 479,000,000.00 | 390,000,000.00 | | 信用借款 | 80,000,000.00 | 80,000,000.00 | | 未到期应付利息 | 1,052,738.76 | 649,075.00 | | 合计 | 560,052,738.76 | 470,649,075.00 | 23. Contract Liabilities At period-end, the contract liabilities balance was CNY 1.14 billion, a 2.48% decrease from the beginning of the period, mainly composed of CNY 1.09 billion in prepaid card funds and CNY 39.75 million in advance sales receipts 合同负债情况 | 项目 | 期末余额 (yuan) | 期初余额 (yuan) | | :--- | :--- | :--- | | 发行预付卡款 | 1,089,374,637.42 | 1,112,026,957.09 | | 预收销售款 | 39,747,775.63 | 49,874,280.56 | | 会员奖励积分 | 10,147,956.71 | 6,292,919.00 | | 合计 | 1,139,270,369.76 | 1,168,194,156.65 | 24. Employee Compensation Payable At period-end, the employee compensation payable balance was CNY 6.51 million, a significant 79.29% decrease from the beginning of the period, with additions of CNY 151 million and reductions of CNY 176 million during the period, primarily including short-term compensation, post-employment benefits, and termination benefits 应付职工薪酬列示 | 项目 | 期初余额 (yuan) | 本期增加 (yuan) | 本期减少 (yuan) | 期末余额 (yuan) | | :--- | :--- | :--- | :--- | :--- | | 一、短期薪酬 | 23,424,138.95 | 129,753,095.34 | 151,183,592.88 | 1,993,641.41 | | 二、离职后福利 - 设定提存计划 | |