JONJEE(SH:600872)2022-08-18 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,652,164,237.63, representing a 14.52% increase compared to ¥2,315,936,351.68 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was ¥313,134,476.13, an increase of 11.91% from ¥279,819,325.70 in the previous year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥301,797,079.06, up 12.21% from ¥268,946,436.51 in the same period last year[15]. - The net cash flow from operating activities was ¥442,577,933.23, reflecting an 11.24% increase from ¥397,846,884.27 in the previous year[15]. - The total assets at the end of the reporting period were ¥6,151,962,562.74, a 3.96% increase from ¥5,917,652,808.13 at the end of the previous year[15]. - The net assets attributable to shareholders of the listed company were ¥3,914,300,926.69, which is a 2.14% increase from ¥3,832,349,780.64 at the end of the previous year[15]. - The basic earnings per share for the first half of 2022 were ¥0.4061, up 14.46% from ¥0.3548 in the same period last year[16]. - The weighted average return on net assets increased to 7.93%, up 1.81 percentage points from 6.12% in the previous year[16]. - The company reported a significant recovery in operating revenue and net profit growth in the first half of 2022 compared to the previous year[15]. Revenue Breakdown - The company achieved a total operating revenue of RMB 2.652 billion, an increase of RMB 336 million, representing a growth of 14.52% year-on-year[22]. - The net profit attributable to the parent company for the first half of 2022 is expected to be RMB 313 million, an increase of RMB 33.31 million, with a growth rate of 11.91%[22]. - The company's revenue from the "Meiwei Xian" brand reached RMB 2.464 billion, with a year-on-year increase of RMB 226 million, reflecting a growth of 10.09%[22]. Market and Distribution - The company has over 1,800 distributors, achieving a development rate of 93.47% in prefecture-level cities and 66.25% in county markets[20]. - The company is actively expanding its marketing network, including e-commerce and export sales, to build a comprehensive marketing strategy[20]. - The company is focusing on a "1+N" product development strategy to enhance market presence and accelerate the development of multi-category product structures[22]. Operational Costs - Operating costs increased by 18.44% to ¥1,803,627,424.22, primarily due to rising raw material prices and increased sales volume[24]. - Sales expenses rose by 10.99% to ¥216,275,165.18, driven by an increase in the number of sales personnel and higher e-commerce expenses[24]. Cash Flow and Investments - The company’s cash and cash equivalents increased by 44.62% to ¥793,469,684.71, compared to ¥548,656,736.03 at the end of the previous year[26]. - The company reported a significant decrease in investment cash flow, with a net outflow of ¥117,835,502.10 compared to a net inflow of ¥693,227,968.06 in the previous year, a change of -117.00%[24]. - The company’s financial expenses decreased significantly by 105.20%, resulting in a net financial expense of -¥504,917.03 compared to ¥9,704,978.10 in the previous year[24]. Environmental Compliance - Guangdong Meiwei Xian Food Co., Ltd. has two wastewater treatment plants with a total design capacity of 3,500 m³/day, operating 24 hours and meeting the discharge standards[43]. - The actual COD discharge for Guangdong Meiwei Xian was 15.163 tons in the first half of the year, well below the permitted amount of 74.095 tons[40]. - The company has implemented an online monitoring system for various pollutants, including COD and nitrogen oxides, in compliance with environmental regulations[47]. - No administrative penalties were imposed on the company during the reporting period for environmental issues[48]. Legal and Financial Liabilities - The company is involved in significant litigation regarding land use rights, with claims for compensation totaling approximately 5.15 billion yuan for economic losses related to land use rights[55]. - Zhongshan Runtian is facing multiple forced execution cases, with a total debt guarantee amounting to 1.64 billion yuan, 2.6 billion yuan, and 7.2 billion yuan, respectively, leading to the freezing of shares[57]. - The total amount of overdue debts not yet repaid as of June 30, 2022, is 308,347.47 million RMB[63]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 87,067[71]. - The largest shareholder, Zhongshan Runtian Investment Co., Ltd., holds 20% of the shares, with a total of 159,297,315 shares[72]. - The company has no significant related party transactions that have not been disclosed in temporary announcements[68]. Accounting Policies - The company’s financial statements are prepared based on the assumption of going concern[105]. - The company adheres to the accounting standards issued by the Ministry of Finance, ensuring the financial statements reflect true and complete financial conditions[107]. - The company recognizes revenue when the company fulfills performance obligations, with transaction prices allocated to each obligation based on their standalone selling prices[164]. Credit Risk Management - The company has recognized a bad debt provision of CNY 5,831,675.57 for accounts receivable, with a provision increase of CNY 115,549.12 during the period[196]. - The accounts receivable aging analysis shows that 1,590,000.00 CNY (100%) of receivables over three years are fully provided for[195]. - The provision for accounts receivable aged within one year is CNY 1,661,617.15, representing a 5% provision ratio[195].