VVFB(SH:600300)2021-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,035,293,421.77, a decrease of 19.47% compared to CNY 2,527,270,745.58 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2021 was CNY 90,802,848.53, down 35.85% from CNY 141,545,554.21 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 755.54% to CNY 80,692,380.10, compared to CNY 9,431,726.85 in the same period last year[18]. - The company's cash flow from operating activities was CNY 95,062,066.53, a decline of 51.87% from CNY 197,521,258.46 in the previous year[18]. - The total assets at the end of the reporting period were CNY 5,577,833,558.69, a decrease of 16.99% from CNY 6,719,134,045.72 at the end of the previous year[18]. - The basic earnings per share for the first half of 2021 were CNY 0.06, down 33.33% from CNY 0.09 in the same period last year[19]. - The company reported a significant decrease in revenue due to the exit of Hubei Zhijiang Liquor Co., Ltd. from the consolidation scope, resulting in a revenue reduction of CNY 167 million[19]. Cash Flow and Assets - The company reported a net cash flow from operating activities of ¥95,062,066.53, a decline of 51.87% compared to the previous year[36]. - Total assets at the end of the reporting period were 556,000.00 million RMB, with cash and cash equivalents accounting for 16.23% of total assets, down 59.36% year-over-year[38]. - Inventory increased by 42.20% year-over-year to 96,313.99 million RMB, reflecting strategic procurement from the National Grain and Material Reserve Bureau[38]. - Short-term borrowings decreased by 36.54% year-over-year to 154,002.00 million RMB, indicating improved debt management[38]. - The company's cash and cash equivalents decreased from 2,227,487,965.91 RMB at the end of 2020 to 905,274,931.15 RMB by June 30, 2021[105]. - Accounts receivable decreased from 101,922,928.88 RMB to 82,072,407.15 RMB during the same period[105]. - Total current assets decreased from 3,735,911,894.13 RMB to 2,667,600,501.81 RMB[105]. Investments and Expansion - The company has invested 10,200,000 RMB in establishing a 51% stake in Jiangsu Fengwei Intelligent Packaging Technology Co., Ltd[41]. - The company plans to continue expanding its market presence and product offerings in the upcoming periods[46]. - The company has ongoing construction projects with a value of 1,605.51 million RMB, primarily for new household dairy production lines[38]. - The company invested over 5 million yuan in 2019 to upgrade wastewater treatment processes and facilities, including the addition of 2 sets of flotation systems and a 1,000m³ anaerobic pool[61]. Environmental Responsibility - The company's wastewater treatment plant has a daily processing capacity of 7,000 tons, meeting actual needs and utilizing anaerobic + dual-stage aerobic biological treatment technology[52]. - The company has replaced all coal-fired boilers with two 20-ton/hour and one 10-ton/hour gas boilers, achieving over 30% reduction in particulate matter, 80% reduction in sulfur dioxide, and 80% reduction in nitrogen oxides emissions[52]. - The company plans to purchase "environmental pollution liability insurance" in August 2021 to further fulfill its environmental responsibilities[57]. - The company has established an online monitoring system for wastewater and gas emissions, ensuring real-time data transmission to regulatory platforms for compliance monitoring[55]. - The company has continuously invested in pollution prevention and control measures, ensuring that all discharged pollutants meet regulatory standards[52]. Shareholder and Corporate Governance - The controlling shareholder, Wewei Group, has fully repaid the non-operating fund occupation interest amounting to CNY 2,692.29 million as of April 21, 2021[86]. - The total amount of guarantees provided by the company, excluding guarantees to subsidiaries, is CNY 5,000 million, which accounts for 2.07% of the company's net assets[91]. - Wewei Group signed a share transfer agreement with Xuzhou Xinsheng Investment Holding Group, transferring 215,688,000 shares, representing 12.90% of the total share capital, at a price of CNY 4.26 per share, totaling CNY 918,830,880[92]. - The company maintains a good integrity status during the reporting period[87]. - There were no changes in the controlling shareholder or actual controller during the reporting period[101]. Compliance and Reporting - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status[138][140]. - The company is committed to maintaining compliance with relevant regulations and standards in its financial reporting practices[140]. - The company has no non-compliance issues or penalties reported for its directors, supervisors, or senior management[87]. - There were no new non-operating fund occupations reported during the reporting period[85]. Research and Development - Research and development expenses were slightly reduced to ¥3,750,492.28 from ¥3,953,235.09, indicating a decrease of 5.1%[113]. - The company recorded a credit impairment loss of ¥1.37 million in the first half of 2021, compared to a reversal of ¥79,075.84 in the same period last year[117].