ANJI FOOD(SH:603696)2018-08-10 16:00Financial Performance - The company's operating revenue for the first half of 2018 was ¥154,374,702.08, representing a 35.10% increase compared to ¥114,264,598.19 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2018 was ¥21,233,182.67, a 24.94% increase from ¥16,994,589.48 in the previous year[17]. - The net cash flow from operating activities was ¥2,265,623.12, showing a 6.97% increase from ¥2,117,992.34 in the same period last year[17]. - The total assets at the end of the reporting period were ¥771,110,492.35, a 0.85% increase from ¥764,630,205.81 at the end of the previous year[17]. - The net assets attributable to shareholders at the end of the reporting period were ¥727,085,360.92, reflecting a 0.93% increase from ¥720,406,229.98 at the end of the previous year[17]. - Basic earnings per share for the first half of 2018 were ¥0.13, a decrease of 7.14% compared to ¥0.14 in the same period last year[18]. - The diluted earnings per share were also ¥0.13, down 7.14% from the previous year[18]. - The weighted average return on equity increased to 2.93%, up 0.50 percentage points from 2.43% in the previous year[18]. Revenue and Profit Growth - The company achieved operating revenue of 154.37 million yuan, a year-on-year increase of 35.10%[30]. - Net profit for the period was 21.23 million yuan, reflecting a year-on-year growth of 24.94%[30]. - The growth in sales revenue and net profit was primarily driven by the development of special channels, overseas channels, supermarket channels, and e-commerce channels[30]. Investment and Expenses - Increased investments in supermarket channel construction and maintenance amounted to 2.48 million yuan compared to the previous year[30]. - The company incurred due diligence expenses of 2.49 million yuan related to ongoing merger and acquisition projects[30]. - Research and development expenses decreased by 6.90% to CNY 3,953,199.10, primarily due to reduced material costs for R&D[31]. Shareholder Information - The company held 2 shareholder meetings during the reporting period, including 1 annual meeting, with no resolutions rejected or changed[43]. - No profit distribution or capital reserve fund increase is proposed for the half-year, with 0 shares distributed or dividends paid per 10 shares[44]. - The company completed the first phase of its employee stock ownership plan, purchasing 2,068,500 shares, which accounts for 1.72% of the total issued share capital[59]. Corporate Governance and Compliance - The company has appointed new independent directors, enhancing its governance structure[78]. - The company has committed to not engage in any business that competes directly or indirectly with its subsidiaries[55]. - The company has established a long-term commitment to ensure no competition with its subsidiaries from its actual controller and major shareholders[55]. Cash Flow and Financial Position - The company reported a significant reduction in employee compensation liabilities by 47.28% to CNY 2,235,782.71, as year-end bonuses were paid out in the current period[33]. - Cash and cash equivalents decreased by 1.83% to CNY 277,237,308.61, representing 35.95% of total assets[32]. - The company reported a total comprehensive income of ¥21,679,130.94, compared to ¥15,214,346.75 in the last period, marking a 42.5% increase[90]. Risk Management - There were no significant risks or non-operational fund occupation by controlling shareholders or related parties reported[6]. - The company has not reported any major related party transactions during the reporting period[60]. Accounting Policies - The accounting policies followed by the company comply with the relevant enterprise accounting standards, ensuring accurate financial reporting[120]. - The preparation of consolidated financial statements is based on control, including subsidiaries determined by voting rights or contractual arrangements[127]. Asset Management - Inventory rose to CNY 41,869,567.31, compared to CNY 37,449,055.30, marking an increase of approximately 11.5%[82]. - Long-term equity investments are initially measured based on the book value of the acquired entity's net assets at the merger date, adjusted for any additional investments[164]. Future Outlook - The company plans to expand its market presence and is focusing on new product development and technology innovation[75].