YLT(SH:600197)2014-08-27 16:00Financial Performance - The company achieved operating revenue of CNY 800.60 million, a decrease of 23.61% compared to the same period last year[17]. - The net profit attributable to shareholders was CNY 147.08 million, down 9.05% year-on-year[17]. - The basic earnings per share decreased by 9.05% to CNY 0.3335 from CNY 0.3667 in the previous year[17]. - The weighted average return on net assets fell by 1.55 percentage points to 10.16%[17]. - The net cash flow from operating activities was negative at CNY -32.34 million, a decline of 145.58% compared to the previous year[17]. - The company reported a significant decrease in operating costs by 34.39% to CNY 385.76 million[19]. - Research and development expenses increased by 8.68% to CNY 14.70 million[19]. - The company's main business revenue from liquor decreased by CNY 154.49 million, a decline of 16.51% year-on-year[20]. - The revenue from liquor sales in regions outside Xinjiang fell by 21.44%, while revenue from within Xinjiang decreased by 14.35%[25]. - The gross profit margin for liquor sales was 53.11%, which is a decrease of 0.66 percentage points compared to the previous year[23]. Assets and Liabilities - The total assets decreased by 6.15% to CNY 2.16 billion compared to the end of the previous year[17]. - Total current liabilities decreased to CNY 606,398,117.08 from CNY 794,307,087.63, a reduction of about 23.7%[57]. - The company's total equity increased to CNY 1,533,353,577.11 from CNY 1,487,643,319.09, showing a growth of approximately 3.1%[57]. - The total assets of Xinjiang Yili Industrial Co., Ltd. as of June 30, 2014, amounted to CNY 2,158,058,294.32, a decrease from CNY 2,299,375,373.55 at the beginning of the year[55]. - The company's total equity at the end of the reporting period is CNY 1,379,041,763.01, a decrease of CNY 30,587,248.53 compared to the previous period[82]. Shareholder Information - The total number of shareholders at the end of the reporting period was 45,669, with the largest shareholder, Xinjiang Yili Brewing Group, holding 50.51% of shares[46]. - Xinjiang Yili Brewing Group's total shareholding amounts to 222,728,867 shares, with no changes reported during the period[46]. - The company distributed a cash dividend of CNY 0.23 per share, totaling CNY 101.43 million, based on a total share capital of 441 million shares[34]. Subsidiaries and Investments - The total revenue for the wholly-owned subsidiary Xinjiang Yili Te Distribution Company was CNY 69.98 million, with a net profit of CNY 14.14 million[30]. - The company reported a net profit of CNY -2.63 million for its wholly-owned subsidiary Yili Te Glass Products Co., Ltd.[32]. - The company made no equity investments during the reporting period, a 100% decrease from CNY 30.36 million in the same period last year[27]. - The company has established a wholly-owned subsidiary, Xinjiang Yilite Distribution Company, with a registered capital of 11,000,000 RMB, focusing on wholesale and retail of alcoholic beverages and packaging recycling[171]. Cash Flow Management - The company's cash and cash equivalents increased to CNY 612,621,361.55 from CNY 360,275,967.27, reflecting a growth of approximately 70.0%[55]. - The net cash flow from operating activities was -32,336,364.76 RMB, a decrease compared to 70,943,494.75 RMB in the previous period[68]. - Total cash inflow from operating activities amounted to 803,008,829.46 RMB, while cash outflow was 835,345,194.22 RMB, resulting in a net cash outflow[68]. Governance and Compliance - The company has not engaged in any major litigation, arbitration, or media disputes during the reporting period[37]. - The company’s governance structure complies with relevant laws and regulations, indicating a well-functioning operation[43]. - There were no management or shareholder penalties or administrative actions reported during the period[42]. Market Conditions - The company faced unprecedented downward pressure due to ongoing adjustments in the liquor industry[18]. - The company has actively adjusted its product structure and marketing network to cope with the deteriorating market environment[21]. Inventory and Receivables - The company has a total inventory of CNY 571,430,146.72, with a decrease from the previous period's CNY 662,375,896.33[198]. - The accounts receivable at the end of the period totaled RMB 23,343,962.02, with a bad debt provision of RMB 3,501,610.23, representing a provision ratio of 15.00%[179]. - The aging analysis shows that 94.95% of receivables are due within one year[193]. Financial Reporting and Accounting Policies - The company continues to operate under the accounting policies established in February 2006, ensuring compliance with relevant financial reporting standards[88]. - The financial statements reflect the company's financial position as of June 30, 2014, in accordance with the applicable accounting standards[91]. - The company did not report any significant changes in accounting policies or prior period error corrections during this reporting period[80].