SJFW(SH:600616)2022-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥231,762,954.13, a decrease of 8.14% compared to ¥252,312,213.32 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was -¥19,903,561.94, compared to -¥22,809,369.04 in the previous year, indicating an improvement[16]. - The net cash flow from operating activities was -¥22,151,392.89, which is an increase of ¥22,273,660 compared to -¥44,888,008.09 in the previous year[16][18]. - The total profit for the period was CNY -27.88 million, an improvement of CNY 4.15 million compared to CNY -32.03 million in the previous year[32]. - The company reported a total of ¥1,626,036.02 in non-recurring gains and losses during the reporting period[21]. - The basic earnings per share for the first half of 2022 was -¥0.03, consistent with -¥0.03 in the same period last year[17]. - The weighted average return on net assets was -1.04%, an improvement from -1.17% in the previous year[17]. - The gross profit margin decreased by 10.6% year-on-year, reflecting the impact of reduced sales due to the pandemic[32]. - The total operating revenue for the first half of 2022 was RMB 231,762,954.13, a decrease of 8.14% compared to RMB 252,312,213.32 in the first half of 2021[120]. - The company reported a comprehensive income of CNY 1,215,281.62 for the first half of 2022[137]. Market Conditions - The decline in revenue was attributed to a significant reduction in market demand due to the resurgence of COVID-19, which affected core consumption scenarios for yellow wine[18]. - In the Shanghai region, sales revenue decreased by 10.15% to 152.02 million yuan, while Zhejiang saw a significant decline of 39.93% due to pandemic-related restrictions[35]. - The company faced challenges from rising raw material costs and increased competition in the market, impacting performance growth[46]. Operational Changes - The company launched 4 new functional yellow wine products during the reporting period to meet market demand[27]. - Operating expenses decreased by 12.4% year-on-year, amounting to CNY 108.33 million[32]. - The company implemented a refined budget management system, with annual targets broken down by channel and personnel, enhancing performance tracking[26]. - The marketing center was restructured to optimize sales across three regions, ensuring precise execution of strategies[26]. - The company focused on enhancing safety production measures and cost reduction strategies during the pandemic[28]. - The company plans to enhance brand promotion and management of distribution channels to expand market reach beyond traditional consumption areas[46]. - The company aims to innovate product types and flavors to cater to the younger consumer demographic, addressing the shift in consumption trends[47]. Environmental Responsibility - The company reported a total pollutant discharge of 379.38 tons/year for COD, 35.50 tons/year for ammonia nitrogen, and 93.43 tons/year for total nitrogen[57]. - The company has completed the renovation of seven gas boilers with low nitrogen burners in September 2019, and the operation is normal[61]. - The company is committed to environmental responsibility and has established pollution prevention facilities that are functioning properly[59]. - The company has implemented a wastewater treatment facility with a capacity of 3,000 tons/day at the Shikumen plant, which is operating normally[61]. - The company has established an online monitoring system for wastewater discharge, measuring COD, pH, ammonia nitrogen, total nitrogen, and total phosphorus[64]. - The company has initiated a 1000KW distributed photovoltaic power generation project, which is expected to generate 5000 to 6000 kWh per day upon full grid connection[74]. - The company is focused on energy conservation and emission reduction, actively pursuing a resource-saving and environmentally friendly operational model[73]. Corporate Governance - The company has appointed new senior management, including a new chairman and general manager, during the recent board elections[51]. - The company is committed to maintaining its independence and has ensured that its operations and decision-making processes remain autonomous from its controlling shareholders[76]. - The company has successfully addressed historical property rights issues by transferring certain properties to its controlling shareholder at assessed value, resolving discrepancies in property ownership[84]. - The company has implemented measures to avoid and reduce related party transactions, ensuring fairness and transparency in any unavoidable transactions[79]. - The company has pledged to resolve any land and property ownership issues related to its operations as part of its commitment to improving corporate governance[84]. Financial Position - The total assets at the end of the reporting period were ¥2,227,081,988.58, a decrease of 1.93% from ¥2,270,956,082.44 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company were ¥1,883,483,379.22, down 2.08% from ¥1,923,457,203.40 at the end of the previous year[16]. - Total current assets as of June 30, 2022, amount to 1,529,912,937.10 RMB, a decrease from 1,550,267,657.20 RMB at the beginning of the period[113]. - Total liabilities increased slightly from CNY 358,749,841.36 to CNY 356,857,789.60, a decrease of about 0.2%[114]. - The total equity attributable to the parent company at the end of the reporting period was CNY 1,870,224,198.98, a decrease of CNY 41,982,042.10 compared to the previous period[132]. - The company reported a decrease in retained earnings by CNY 20,070,148.50 due to profit distribution to shareholders[133]. Accounting Policies - 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 as of December 31, 2021, and the operating results for the first half of 2022[146]. - The company uses RMB as its functional currency for accounting purposes[149]. - The consolidation scope includes the company and all subsidiaries, reflecting the overall financial status and results of the group[152]. - The company recognizes financial liabilities at fair value or amortized cost, depending on the nature of the liability[168]. - The company applies the effective interest method for calculating interest on financial assets measured at amortized cost[163].