YLT(SH:600197)2021-04-27 16:00Financial Performance - In 2020, the company achieved a net profit of ¥306,354,434.50, with a distributable profit of ¥275,718,991.05 after allocating 10% to statutory reserves[4]. - The company plans to distribute cash dividends of ¥4.05 per 10 shares, totaling ¥189,415,841.58, with no bonus shares or capital reserve conversion[4]. - The total share capital as of December 31, 2020, was 467,693,436 shares[4]. - In 2020, the company's operating revenue was CNY 1,802,060,041.69, a decrease of 21.71% compared to CNY 2,301,653,010.91 in 2019[20]. - The net profit attributable to shareholders was CNY 341,911,134.68, down 23.48% from CNY 446,821,094.68 in the previous year[20]. - The net cash flow from operating activities decreased by 50.62% to CNY 276,498,230.07 from CNY 559,934,919.37 in 2019[20]. - The company's total assets increased by 1.78% to CNY 4,488,134,649.17 at the end of 2020, compared to CNY 4,409,826,423.07 at the end of 2019[20]. - The basic earnings per share decreased by 22.97% to CNY 0.7862 from CNY 1.0207 in 2019[20]. - The weighted average return on equity decreased by 5.93 percentage points to 10.83% from 16.76% in 2019[20]. Operational Highlights - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[4]. - The company has not reported any significant risks or issues in its operations for the reporting period[5]. - The company’s information disclosure media is designated as Shanghai Securities News and the Shanghai Stock Exchange website[15]. - The company implemented a series of measures to stabilize the market, including providing loan support to distributors and conducting inventory assessments[40]. - A total of 20 million RMB in consumer vouchers were issued to stimulate local wine consumption, resulting in 53.09 million RMB in white wine sales[40]. - The company invested 30 million RMB in online promotional activities, achieving 190 million views for its campaigns within a month[40]. - The company launched 25 new products and changed 24 packaging designs to enhance product competitiveness[41]. - The company has a technical innovation team of 281 members, accounting for 10% of the total workforce[42]. - The company reported a total of 260 trademark infringement cases, with 161 cases concluded during the reporting period[41]. Market and Sales Performance - The company's main business revenue from liquor reached ¥1,792,816,438.72, with a year-over-year decrease of 21.21%[52]. - High-end liquor sales revenue was ¥1,341,798,986.26, down 16.70% year-over-year, with a gross profit margin of 57.42%[55]. - The production volume of high-end liquor decreased by 30.69%, while sales volume dropped by 30.76%[58]. - The company’s high-end liquor sales volume decreased by 30.69% to 7,719.74 kiloliters, with a revenue of ¥1,341,798,986.26, down 16.70% year-on-year[75]. - The company’s mid-range liquor sales volume decreased by 28.93% to 7,386.84 kiloliters, with a revenue of ¥369,276,820.43, down 31.03% year-on-year[75]. - Online sales revenue reached RMB 25.34 million, a 100% increase compared to the previous period[82]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm[4]. - The company has ensured that all board members attended the board meeting, affirming the report's accuracy and completeness[4]. - The company has not violated decision-making procedures for external guarantees[4]. - The company has not faced any major litigation or arbitration matters during the reporting period[130]. - The company has committed to adhere to the latest regulations from the China Securities Regulatory Commission regarding compensation measures[124]. - The company has confirmed that there are no significant related party transactions that have not been disclosed in temporary announcements[130]. Social Responsibility and Community Engagement - The company donated over CNY 5 million in funds and materials for COVID-19 prevention efforts[46]. - The company has established a "Poverty Alleviation Fund" since 2006, helping 79 employees through 106 instances of support[140]. - The company has provided job opportunities for over 300 ethnic minorities and 58 disabled individuals, with monthly earnings around RMB 4,500[142]. - The company has actively participated in poverty alleviation efforts, aligning with national strategies and local economic development[139]. - The company has initiated agricultural projects, including the establishment of planting bases for sorghum, rice, corn, wheat, and peas, to enhance local farmers' income[141]. Environmental Initiatives - The company is committed to green development and enhancing environmental protection measures within its industrial park[100]. - The company achieved a total wastewater COD discharge of 17.24 tons and ammonia nitrogen discharge of 1.724 tons in the first half of 2020, with no exceedances reported[147]. - The company invested 10.2 million yuan in 2015 for the renovation of pollution control facilities, which were completed in July 2016[147]. Future Outlook and Strategy - For 2021, the company aims to achieve operating revenue of 2.3 billion yuan and a total profit of 550 million yuan[96]. - The company plans to optimize its product structure by launching high-end new products priced at 600-800 yuan and above 1,000 yuan to enhance sales profit margins[98]. - The company intends to strengthen its marketing strategies in key regions, particularly in Xinjiang and expand its national market presence[97]. - The company is focusing on brand promotion through traditional media channels and enhancing its online presence to increase brand awareness[98]. - The company is committed to digital transformation and innovation in production processes to adapt to changing market demands[93]. Shareholder Relations - The controlling shareholder, Xinjiang Yili Group, committed to avoiding competition with the public company and ensuring no harm to the public company's interests through related transactions[111]. - Xinjiang Yili Group has consistently fulfilled its commitments without any delays or failures[113]. - The company reported a total related party transaction amount of 30.94 million yuan for 2020, with an expected amount exceeding 30 million yuan for 2021[130]. - The company has committed to avoid and minimize related party transactions post-acquisition, ensuring compliance with legal regulations and protecting shareholder interests[122].