WLGF(SH:603779)2021-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥243.33 million, representing a 44.44% increase compared to the same period last year[17]. - The net profit attributable to shareholders was approximately -¥1.21 million, showing a 99.12% improvement from the previous year's loss of -¥137.81 million[17]. - The net cash flow from operating activities was approximately ¥7.79 million, a significant recovery from -¥11.40 million in the same period last year[17]. - The company's revenue for the reporting period reached ¥243,325,652.87, representing a 44.44% increase compared to ¥168,461,558.99 in the same period last year[30]. - The net profit for the first half of 2021 was a loss of CNY 1,212,455.88, compared to a loss of CNY 137,811,244.11 in the first half of 2020, indicating an improvement in performance[93]. - The company reported a comprehensive loss of CNY 17,626,400.59 for the first half of 2021, compared to a loss of CNY 141,159,351.92 in the same period of 2020[93]. - The company reported a total of ¥3.16 million in non-recurring gains and losses for the reporting period[20]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥1.84 billion, a decrease of 2.62% from the previous year[17]. - The company's cash and cash equivalents decreased by 69.45% to ¥21,400,542.43, primarily due to the repayment of short-term loans[34]. - The company's production biological assets increased by 90.85% to ¥189,043,238.52, attributed to the completion of asset ownership transfer[34]. - The company's total assets include overseas assets of ¥555,787,095.01, accounting for 30.20% of total assets[35]. - The total liabilities decreased from CNY 562,540,879.53 to CNY 532,042,985.69, a decline of about 5.4%[90]. - Total assets decreased from ¥1,890,180,065.10 in December 2020 to ¥1,840,584,343.21 in June 2021, a decline of approximately 2.0%[86]. - Total liabilities decreased from ¥738,824,711.18 in December 2020 to ¥715,474,376.09 in June 2021, a decline of about 3.1%[86]. Marketing and Sales - The company has established a nationwide marketing network combining self-operated branches and regional distributors[22]. - The company is recognized as one of China's large wine producers, with leading indicators in production volume, tax contributions, and market share[23]. - The company has received multiple awards, including a gold medal at the 2020 IWGC International Wine Competition, enhancing its brand reputation[29]. - The company is focusing on new product development, including the launch of the V8 brandy and various wine styles to meet market demand[29]. - The company has implemented a "135" marketing strategy, emphasizing differentiation and focusing on core products and regions[28]. Research and Development - Research and development expenses rose by 33.72% to ¥2,179,257.40, up from ¥1,629,776.95[30]. - The company has developed proprietary organic grape cultivation techniques and has received organic certification from various international bodies[23]. Environmental Compliance - The company has implemented a comprehensive environmental management system to ensure compliance with national environmental laws and regulations[52]. - The company reported a wastewater COD concentration of 28 mg/L at the Houlian factory, which is below the regulatory standard[52]. - The wastewater COD concentration at the Huangcheng factory was reported at 30 mg/L, also below the required standard[53]. - The company has not reported any administrative penalties related to environmental issues during the reporting period[54]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 13,486[72]. - The largest shareholder holds 23.61% of the company's total shares, while the second largest shareholder holds 18.81%[69]. - A shareholder reduced their holdings by 797,500 shares, accounting for 25% of their total shares held[58]. - The company has committed to not engage in any related transactions with 威龙股份 to protect shareholder interests[59]. Corporate Governance - The company has undergone significant changes in its board of directors, with several new non-independent directors elected[46]. - The company has not proposed any profit distribution or capital reserve conversion plans for the half-year period[49]. - The company has not disclosed any employee stock ownership plans or other incentive measures during this reporting period[50]. Financial Management - The company has taken steps to strengthen investment compliance and risk management processes following a stock sale incident[57]. - The total amount of guarantees provided by the company to its subsidiaries during the reporting period is CNY 47,800,080[67]. - The company has no significant litigation or arbitration matters during the reporting period[62]. - The company has no major related transactions during the reporting period[63]. Accounting Policies - The financial statements are prepared in accordance with the relevant provisions of the Enterprise Accounting Standards, reflecting the company's financial position, operating results, changes in shareholders' equity, and cash flows accurately[121]. - The company adopts a historical cost measurement basis for financial reporting, except for certain financial instruments[118]. - The company recognizes goodwill in cases where the acquisition cost exceeds the fair value of identifiable net assets acquired in non-similar control mergers[132]. Risk Factors - The company faces risks from fluctuations in the wine market and potential impacts from increased imports of foreign wines[39]. - The company is facing increased storage costs and potential shortages of domestic raw materials due to import restrictions on Australian wine[39].