n.n.store(SH:600712)2022-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2022 was CNY 334.86 million, a decrease of 17.06% compared to CNY 403.75 million in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 14.07 million, representing a decline of 187.86% from a loss of CNY 4.89 million in the previous year[18]. - The net cash flow from operating activities was a negative CNY 8.54 million, a significant decrease of 495.28% compared to a negative CNY 1.43 million in the same period last year[18]. - The total assets at the end of the reporting period were CNY 1.63 billion, down 4.74% from CNY 1.72 billion at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 1.59% to CNY 871.51 million from CNY 885.58 million at the end of the previous year[18]. - The basic earnings per share for the first half of 2022 was -CNY 0.0258, a decrease of 186.67% compared to -CNY 0.0090 in the same period last year[18]. - The weighted average return on net assets was -1.60%, a decrease of 1.05 percentage points from -0.55% in the previous year[18]. - The company's total operating revenue for the first half of 2022 was 334.86 million yuan, a decrease of 17.06% year-on-year[31]. - The net profit attributable to shareholders was -14.07 million yuan, a year-on-year decrease of 187.86%[31]. - The company's operating revenue decreased by 17.06% to CNY 334,858,794.76 compared to CNY 403,746,614.00 in the same period last year[35]. - Operating costs also fell by 17.54% to CNY 243,290,348.36 from CNY 295,044,211.77, reflecting the decline in revenue[35]. - The company's net loss for the first half of 2022 was CNY 15,735,574.25, compared to a net loss of CNY 3,791,100.04 in the first half of 2021[88]. - The total comprehensive income for the first half of 2022 was a loss of CNY 14,074,867.13, compared to a profit of CNY 12,363,513.41 in the first half of 2021[91]. Operational Highlights - The main business revenue accounted for 88.66% of total operating revenue, with the breakdown being 16.07% for department stores, 55.72% for home appliances, 15.28% for supermarkets, 8.87% for automobiles, and 0.53% for e-commerce[23]. - The company introduced 23 new brands in the department store sector and transitioned four major jewelry brands from joint venture to leasing[32]. - The company organized four large-scale member marketing activities in the first half of the year, effectively enhancing member consumption[32]. - The overall retail sales of consumer goods in Guangxi increased by 0.1% year-on-year in the first half of 2022[25]. - The company aims to enhance operational quality through a "refined management" strategy, focusing on customer-centric operations and improving service quality[34]. - The company plans to accelerate the digital transformation process and optimize its layout structure in the second half of the year[33]. - The online retail sales of physical goods in China grew by 5.6% year-on-year, accounting for 25.9% of total social retail sales[24]. - The company is exploring the development of the "new energy" automobile market in response to the growing trend of electric vehicles[33]. Financial Position - The company's cash and cash equivalents decreased by 11.29% to CNY 222,822,927.76 from CNY 251,182,974.34 at the end of the previous year[38]. - Accounts receivable increased by 110.79% to CNY 14,364,381.73 from CNY 6,814,454.03, indicating a rise in credit sales[39]. - The total liabilities decreased by 4.28% to CNY 230,000,000.00 in short-term borrowings from CNY 240,283,013.70[39]. - The company reported a significant increase in other income by 99.18% to CNY 1,917,120.05, primarily due to tax refunds[36]. - The company experienced a 405.03% increase in operating loss, amounting to CNY -14,337,406.15 compared to CNY -2,838,904.79 last year[36]. - The decline in revenue and profit was primarily attributed to reduced customer traffic due to the recurring COVID-19 pandemic[36]. - The total assets of the company's subsidiaries amount to approximately ¥363.27 million, with total revenue of ¥105.03 million and a net loss of ¥10.21 million for the reporting period[44]. - The subsidiary Nanning Jinhu Times Investment Co., Ltd. reported total assets of ¥234.28 million and a net loss of ¥1.81 million[44]. - Guangxi Nanbai Supermarket Co., Ltd. generated revenue of ¥51.16 million but incurred a net loss of ¥5.54 million, with net assets reported at -¥126.62 million[44]. Risks and Challenges - The company faces macroeconomic risks due to reliance on consumer confidence and economic growth, which may be impacted by ongoing pandemic effects[45]. - Industry competition poses a risk, with changing consumer habits and the rise of online retail affecting market share and profitability[45]. - The company is undergoing a transformation to address competitive pressures, which has led to declining sales and increased losses in some stores[46]. - There are ongoing litigation matters with significant amounts at stake, which could adversely affect the company's financial position[46]. - The company has not proposed any profit distribution or capital reserve increase for the reporting period[51]. Community and Environmental Initiatives - A total of 240,000 yuan was allocated for targeted poverty alleviation and rural revitalization efforts, including material donations and support for local infrastructure[55]. - The company has been actively involved in community support activities, including the "Winter Sunshine" initiative, providing essential goods and aid to local villages[55]. - The company has established waste classification systems to promote waste reduction and resource management[54]. - The company implemented energy-saving measures during the summer, enhancing employee awareness to reduce energy waste[54]. - The company has committed to using clean energy sources in its cafeteria operations to reduce emissions[54]. - The company has installed oil fume purifiers in its dining facilities to lower kitchen emissions[54]. - The company is focused on enhancing its environmental responsibility through various initiatives aimed at pollution prevention and ecological protection[54]. Legal and Compliance Matters - The company has faced significant litigation, including a contract dispute with Nanning Yizilian Rice Industry Co., Ltd., which is currently in the enforcement stage[59]. - The company is involved in multiple ongoing legal cases, including disputes with real estate developers, with some cases still awaiting judgment[61]. - The company has not reported any significant environmental issues or penalties related to environmental protection[53]. - The company has not reported any non-compliance issues or penalties related to its operations[62]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 40,835[73]. - The company has not reported any significant changes in its share capital structure during the reporting period[72]. - The top shareholder, Nanning Futian Investment Co., Ltd., holds 102,687,831 shares, accounting for 18.85% of total shares[74]. - Nanning Peining Asset Management Co., Ltd. is the second-largest shareholder with 99,491,492 shares, representing 18.27%[74]. - The company has a total of 5,350,349 shares under limited sale conditions held by Nanning Urban Construction Investment Group Co., Ltd.[75]. - There are no changes in the controlling shareholder or actual controller during the reporting period[76]. Accounting Policies and Practices - The company has maintained its accounting policies in accordance with the relevant accounting standards, ensuring the financial statements reflect true and complete information[117]. - The company has not identified any factors affecting its ability to continue as a going concern for the next 12 months[115]. - The company operates primarily in wholesale and retail of department store goods, with a diverse range of business activities including import and export[111]. - The financial report was approved by the board of directors on August 24, 2022, ensuring timely disclosure of financial performance[112]. - The company has a total of 10 subsidiaries included in the consolidated financial statements, indicating a broad operational footprint[113]. - The company's accounting period runs from January 1 to December 31 each year[118]. - The company uses a 12-month operating cycle for liquidity classification of assets and liabilities[119]. - The company's functional currency is Renminbi (RMB)[120].