THGW(SH:600365)2020-06-11 16:00Financial Performance - In 2019, the company reported a net profit attributable to shareholders of -31,314,713.87 CNY, a decrease of 845.97% compared to the previous year[5]. - The total revenue for 2019 was 976,001,921.75 CNY, reflecting a decline of 4.93% from 1,026,650,173.88 CNY in 2018[21]. - The basic earnings per share for 2019 was -0.08 CNY, a decrease of 900.00% compared to 0.01 CNY in 2018[23]. - The weighted average return on net assets was -4.97% in 2019, a decrease of 5.58 percentage points from 0.61% in 2018[23]. - The company's operating profit was 3.05 million RMB, down 94.29% compared to the previous year[42]. - The total profit amounted to 2.43 million RMB, reflecting a decline of 95.43% year-on-year[42]. - The company reported a comprehensive loss of 31,314,713.87 RMB for the year 2019, compared to a profit in the previous year, highlighting a negative shift in financial performance[180]. - The net profit for 2019 was a loss of CNY 11,399,636.91, compared to a profit of CNY 33,163,438.65 in 2018, indicating a significant decline in profitability[168]. Cash Flow and Liquidity - The net cash flow from operating activities was -804,237,539.78 CNY, worsening from -573,225,095.85 CNY in 2018[21]. - The total cash and cash equivalents at the end of 2019 were CNY 21,430,683.29, down from CNY 192,849,065.36 at the end of 2018[176]. - Cash flow from operating activities in 2019 was a negative CNY 804,237,539.78, worsening from a negative CNY 573,225,095.85 in 2018[175]. - The cash outflow from operating activities surged to 353,286,415.68 RMB in 2019, compared to 166,195,060.14 RMB in 2018, marking an increase of approximately 112%[178]. - The company reported a significant increase in other payables, totaling CNY 79,978,514.05, up from CNY 73,384,246.20 in 2018[165]. Assets and Liabilities - The company's total assets at the end of 2019 were 1,143,133,601.57 CNY, down 4.72% from 1,199,717,428.19 CNY in 2018[21]. - The total liabilities decreased from CNY 419,734,877.15 in 2018 to CNY 408,850,687.44 in 2019, a decline of about 2.1%[161]. - Total current assets decreased from CNY 917,163,186.33 in 2018 to CNY 794,335,203.35 in 2019, a decline of approximately 13.4%[159]. - The total equity attributable to shareholders decreased from CNY 693,362,595.61 in 2018 to CNY 662,047,881.74 in 2019, a decrease of approximately 4.5%[161]. - The cash and cash equivalents decreased from CNY 216,527,012.09 in 2018 to CNY 97,920,688.20 in 2019, a decline of about 54.8%[159]. Revenue and Sales - The company achieved operating revenue of 976 million RMB, a decrease of 4.93% year-on-year[42]. - The e-commerce sales in the liquor industry have shown rapid growth, with transaction volumes expected to exceed ¥100 billion in 2020, up from ¥76.7 billion in 2018[32]. - The total sales revenue from direct sales (including group purchases) was 101 million RMB, a decrease of 23.48% from the previous period[78]. - The sales volume in the North region decreased by 34.2% compared to the previous period, while the Northeast region saw a sales volume increase of 30.3%[78]. Product Development and Marketing - In 2019, the company launched several new products, including "Tianchi Fenghui Tonghua Aged Dry Red Wine" and "Tonghua * Suge Lan Ning Signature Micro-bubble Wine" among others[39]. - The company plans to enhance its product structure and marketing network, leveraging internet marketing platforms to expand its market presence[87]. - The company aims to develop 10 new products in the year, ensuring that at least 3 are launched[90]. - The company will strengthen brand promotion efforts, aiming to enhance brand image and consumer recognition through participation in industry events[89]. Shareholder and Ownership Structure - The company reported a total of 27,999 common stock shareholders at the end of the reporting period, an increase from 27,422 in the previous month[112]. - The largest shareholder, Jilin Province Jixiang Jiade Investment Co., Ltd., holds 43,093,236 shares, representing 10.77% of total shares[115]. - The company has no controlling shareholder or actual controller, ensuring a clear ownership structure[119]. - The company has not disclosed any changes in the number of shares or shareholder structure during the reporting period[112]. Environmental and Social Responsibility - The company has implemented an environmental management system to ensure stable operation of pollution control facilities and compliance with environmental standards[109]. - The company has made significant investments in environmental protection, including the installation of energy-efficient equipment and regular monitoring of emissions[109]. - The company has established emergency response plans for environmental pollution incidents, enhancing its environmental risk management[109]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 588, with 432 in the parent company and 156 in subsidiaries[132]. - The company has implemented a performance-based salary policy to link employee compensation with their contributions and market conditions[133]. - The company has maintained a stable management team with no changes in key executive positions during the reporting period[123]. - The board of directors consists of independent directors, ensuring compliance with legal requirements and promoting governance transparency[136][137].