Financial Performance - For the six months ended June 30, 2021, the company's main business revenue was approximately RMB 5,335,018,709, a decrease of about 7.5% compared to the same period last year[9]. - Gross profit was approximately RMB 595,742,912, representing a decrease of about 18.4% year-on-year[10]. - Total profit was approximately RMB 69,740,657, down approximately 17.9% from the previous year[11]. - Net profit attributable to the parent company was approximately RMB 26,589,237, a decrease of about 26.5% compared to the same period last year[11]. - Total operating revenue for the first half of 2021 was RMB 5,847,335,159, a decrease of 5.8% compared to RMB 6,209,873,235 in the same period of 2020[76]. - Net profit for the first half of 2021 was RMB 42,608,150, compared to RMB 49,242,957 in the same period of 2020, indicating a decline of 13.3%[78]. - The company reported a basic earnings per share of RMB 0.06 for the first half of 2021, down from RMB 0.09 in the same period of 2020[78]. - The comprehensive income for the first half of 2021 is RMB 27,097,767, compared to RMB 37,923,594 in the same period of 2020, indicating a decline[98]. Revenue Streams - The group's retail business revenue decreased by approximately 31.5%, primarily due to a same-store sales decline of about 29.28%[25]. - Wholesale business revenue increased by approximately 10.8%, attributed to increased sales from cross-border e-commerce and the introduction of new cooperative brand products[31]. - The company’s operating revenue for the first half of 2021 was RMB 1,778,578,446, a decrease of 28% compared to RMB 2,468,717,180 in the same period of 2020[80]. Cost Management - Total operating costs for the first half of 2021 were RMB 5,807,988,298, down from RMB 6,150,599,227 in the first half of 2020, reflecting a cost reduction strategy[76]. - The company reported a decrease in sales expenses to RMB 315,894,561 from RMB 339,208,058 year-on-year, reflecting a cost-saving strategy[80]. - The company’s financial expenses decreased to RMB 74,936,777 in the first half of 2021 from RMB 92,145,694 in the same period of 2020, reflecting effective cost management[76]. Assets and Liabilities - As of June 30, 2021, the group's non-current assets amounted to RMB 3,140,822,423, with non-current liabilities of RMB 1,390,471,963, primarily including bonds payable of RMB 410,710,260[37]. - The group's current assets totaled RMB 4,794,560,687, which included cash and cash equivalents of RMB 1,071,352,906 and inventory of RMB 1,282,449,256[37]. - The total current liabilities were RMB 4,415,347,640, with short-term bank loans constituting RMB 2,188,140,142[37]. - The company's total equity as of June 30, 2021, was RMB 2.13 billion, a decrease from RMB 2.18 billion as of December 31, 2020[70]. - The total liabilities increased from RMB 4.51 billion as of December 31, 2020, to RMB 5.81 billion as of June 30, 2021, indicating a rise in financial obligations[70]. Operational Strategies - The company focused on enhancing core capabilities and expanding product categories, introducing traditional snacks to meet consumer demand[13]. - Online business continued to grow steadily, with the company enhancing online shopping experiences and increasing product variety[16]. - The company implemented a comprehensive member management system to improve customer engagement and increase purchase frequency[15]. - The group is actively adjusting its operational strategies in response to market changes, focusing on improving service capabilities and expanding supply chain resources[27]. - The group plans to enhance product innovation and optimize the supply chain for private label products while expanding online and offline integration[49]. Governance and Compliance - The audit committee confirmed that the financial reports for the six months ending June 30, 2021, comply with applicable accounting standards and legal requirements[54]. - The company has adopted a code of conduct for securities trading by directors, ensuring compliance with the standards set forth in the listing rules[53]. - The company’s governance practices are aligned with the Hong Kong Stock Exchange's Corporate Governance Code, with a noted deviation regarding the rotation of directors every three years[52]. - The company has maintained a consistent approach to governance and compliance with the relevant regulations throughout the reporting period[52]. Employee and Operational Metrics - The group had a total of 5,046 employees as of June 30, 2021, with total employee costs amounting to RMB 372,460,621 during the reporting period[44]. - The group opened 3 new directly operated convenience stores and closed 4 stores during the reporting period[20]. Cash Flow and Financing - The total cash inflow from operating activities was RMB 6,257,445,568, while the cash outflow was RMB 5,874,217,029, resulting in a net cash flow of RMB 383,228,539[82]. - The company raised RMB 2,056,388,530 through financing activities, slightly down from RMB 2,091,672,250 in the same period of 2020[84]. - Cash inflow from financing activities amounted to RMB 700 million, while cash outflow totaled RMB 756.37 million, resulting in a net cash flow from financing activities of negative RMB 56.37 million[88]. Financial Reporting and Accounting Policies - The financial statements of the group are prepared based on the going concern assumption and comply with the relevant accounting standards, reflecting the financial position as of June 30, 2021, and the operating results for the first half of 2021[102]. - The accounting period for the group is aligned with the calendar year, running from January 1 to December 31[104]. - The group uses Renminbi (RMB) as its functional currency for accounting purposes, reflecting the primary economic environment in which it operates[106]. - The company has not reported any changes in accounting policies or corrections of prior period errors during the first half of 2021[95].
北京京客隆(00814) - 2021 - 中期财报