Shede Spirits (SH:600702)2019-02-19 16:00Financial Performance - The company achieved a total operating revenue of RMB 2,212,299,856.53 in 2018, representing a 35.02% increase compared to RMB 1,638,440,107.81 in 2017[15]. - The net profit attributable to shareholders of the listed company reached RMB 341,777,552.29, a significant increase of 138.05% from RMB 143,572,119.23 in the previous year[15]. - The net profit after deducting non-recurring gains and losses was RMB 294,731,274.36, up 118.46% from RMB 134,912,049.91 in 2017[15]. - The net cash flow from operating activities was RMB 443,180,873.80, showing a slight increase of 4.13% compared to RMB 425,585,549.65 in 2017[15]. - As of the end of 2018, the net assets attributable to shareholders of the listed company were RMB 2,516,035,088.50, a 1.29% increase from RMB 2,483,961,746.78 at the end of 2017[15]. - The total assets of the company amounted to RMB 4,842,358,854.79, reflecting a 3.05% increase from RMB 4,698,942,265.44 in the previous year[15]. - Basic earnings per share increased by 140.05% to CNY 1.0219 in 2018 compared to CNY 0.4257 in 2017[16]. - The weighted average return on equity rose by 6.88 percentage points to 12.87% in 2018 from 5.99% in 2017[16]. - The company’s operating profit for 2018 was CNY 44,234,320, a remarkable increase of 119.15% year-on-year[26]. - The total revenue for the company reached CNY 2,189,248,949.37, representing a year-on-year increase of 36.27%[30]. Dividend Policy - The company proposed a cash dividend of RMB 1.03 per 10 shares, totaling RMB 34,376,934.02 to be distributed to shareholders[3]. - The company distributed cash dividends in 2018 amounting to CNY 34,376,934.02, representing 10.06% of the net profit attributable to ordinary shareholders[78]. - In 2017, the cash dividend distributed was CNY 14,503,900.00, which accounted for 10.10% of the net profit attributable to ordinary shareholders[78]. - The company reported a cash dividend of CNY 24,285,600.00 in 2016, which was 30.28% of the net profit attributable to ordinary shareholders[78]. - The cash dividend policy mandates a minimum of 10% of distributable profits to be distributed as cash dividends annually, with specific conditions based on the company's development stage[77]. Market Strategy and Operations - The company focuses on high-quality liquor production and has established an ecological liquor industrial park, leading the industry in base liquor reserves and quality[20]. - The company has shifted to a professional marketing team and a flat distribution model to enhance market presence and brand value[20]. - The white liquor industry is experiencing increased brand awareness and a shift towards high-end and mid-range products, benefiting companies like Shede Liquor[21]. - The company aims to build a customer management platform with over one million loyal consumers, leveraging big data and information technology[20]. - The company plans to continue expanding its market presence and developing new products to enhance revenue growth[31]. - The company plans to actively develop e-commerce sales and has created dedicated products for online sales to enhance market penetration[60]. - The company aims to become a leading high-end liquor brand in China, focusing on sustainable and high-quality development[72]. - In 2019, the company plans to enhance market share through a consumer-centric marketing model and strengthen brand positioning[73]. Research and Development - The company’s R&D expenses increased by 21.70% to CNY 8,699,988.55, reflecting its commitment to innovation[28]. - The company has developed 136 new ecological liquor products, showcasing its strong R&D capabilities[24]. - The company invested ¥8,699,988.55 in R&D, which represents 0.40% of its operating revenue, with a total of 123 R&D personnel, accounting for 2.57% of the total workforce[39]. Risk Management and Compliance - There were no significant risks that materially affected the company's operations during the reporting period[5]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[4]. - The company has maintained a good integrity status, with no significant debts or court judgments unmet during the reporting period[84]. - The company has not faced any risks of suspension or termination of its listing[83]. - The company has no major litigation or arbitration matters during the reporting period[84]. Environmental Responsibility - The company is listed as a key pollutant discharge unit, adhering to environmental management requirements and passing environmental inspections[103]. - The company has established a total discharge limit for COD at 185 tons per year and for SO2 at 331.65 tons per year[104]. - No instances of exceeding pollutant discharge standards were reported during the year[106]. - The wastewater treatment plant has a designed capacity of 10,000 tons per day, achieving discharge standards that exceed national Class III water quality standards[107]. - The company implemented a "coal-to-gas" energy-saving project, eliminating boiler emissions and preventing air pollution[107]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 44,634, down from 48,932 the previous month[115]. - The largest shareholder, Sichuan Tuopai Shede Group Co., Ltd., holds 100,695,768 shares, representing 29.85% of total shares[116]. - The top ten unrestricted shareholders include various investment funds and individuals, with the largest holding being 11,324,359 shares by the company's repurchase account[117]. - There were no changes in the total number of ordinary shares or the share capital structure during the reporting period[113]. Corporate Governance - The company has established a comprehensive internal control system to protect investor interests and ensure sustainable development[143]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal requirements[142]. - The company emphasizes investor relations management, providing timely responses to investor inquiries[143]. - The company adheres to strict information disclosure practices, ensuring transparency and fairness[143]. Employee Management - The company employed a total of 4,781 staff, including 1,530 production personnel and 2,320 sales personnel[137]. - The company conducted 20 internal training sessions with 1,774 participants and organized 39 external training sessions with 109 participants during the reporting period[139]. - The company provides social insurance, housing fund, and paid leave as part of its employee welfare policies[138]. - The company has implemented a new compensation scheme based on job value, skill requirements, and labor intensity to enhance performance management[138]. Financial Position - The total assets of the company reached RMB 4,149,506,895.85, up from RMB 4,069,556,056.32, showing a growth of approximately 2%[170]. - Total liabilities rose to RMB 2,127,609,997.55 from RMB 2,044,070,868.62, marking an increase of about 4.07%[167]. - Total equity increased to RMB 2,714,748,857.24 from RMB 2,654,871,396.82, representing a growth of approximately 2.25%[168]. - The company reported a total profit of CNY 411,916,570.64, an increase from CNY 357,681,526.04 in the previous year, representing a growth of about 15.1%[175].