WLGF(SH:603779)2023-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥177,458,303.67, a decrease of 20.94% compared to ¥224,447,280.90 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was -¥13,062,223.63, compared to a profit of ¥128,205.80 in the same period last year[17]. - The net cash flow from operating activities was ¥4,938,395.01, down 43.59% from ¥8,755,095.43 in the previous year[17]. - The total assets at the end of the reporting period were ¥1,333,619,915.61, a decrease of 7.15% from ¥1,436,279,805.04 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 1.06% to ¥700,081,312.30 from ¥707,573,850.77 at the end of the previous year[17]. - The basic earnings per share for the first half of 2023 was -¥0.04, with diluted earnings per share also at -¥0.04[18]. - The weighted average return on net assets was -1.86%, a decrease of 1.88 percentage points from 0.02% in the same period last year[18]. - The company reported a comprehensive loss of CNY 7,492,538.47 for the first half of 2023, compared to a loss of CNY 282,894.47 in the same period of 2022[88]. - The company reported a total comprehensive income of CNY 2,868,634.66 for the first half of 2023[103]. Revenue and Costs - The company's operating costs were ¥92,506,156.84, down 17.14% from ¥111,637,512.29 year-on-year[32]. - Total operating revenue for the first half of 2023 was CNY 177,458,303.67, a decrease of 20.93% compared to CNY 224,447,280.90 in the same period of 2022[86]. - Total operating costs for the first half of 2023 were CNY 201,210,863.03, down from CNY 222,370,696.75 in the first half of 2022, reflecting a decrease of 9.49%[86]. - Research and development expenses increased significantly by 193.00%, reaching ¥5,119,051.02 compared to ¥1,747,125.19 in the previous year[32]. - The company experienced a significant increase in credit impairment losses, which rose to CNY 1,692,428.32 in the first half of 2023 from CNY 311,202.50 in the same period of 2022[87]. Market and Product Development - The company continues to focus on organic wine production and has received organic certification from various international bodies, indicating a commitment to quality and health-conscious products[21]. - The domestic wine market remains in a growth phase, with increasing consumer awareness and demand for quality products despite current market challenges[21]. - The company is focusing on developing new products aimed at younger consumers, including multi-flavor wines, sweet wines, and ice wines[30]. - The company offers a diverse product line with over 100 varieties, including wine, brandy, and newly launched sparkling wine, catering to various market demands[27]. - In 2023, the company won 1 gold medal, 9 silver medals, and 2 consumer gold awards at the Asia Wine Quality Competition, and 1 gold medal at the Germany Pal International Wine Competition[22]. Assets and Liabilities - The total amount of accounts receivable decreased by 58.46% to ¥26,634,484.45 from ¥64,119,831.74 in the previous year[35]. - The company has a total of ¥331,192,153.10 in overseas assets, accounting for 24.83% of total assets[36]. - Total liabilities decreased from CNY 511,683,319.94 at the end of 2022 to CNY 442,390,564.05 at the end of June 2023, a reduction of 13.52%[84]. - The total equity at the end of the current period is reported at 700,196,735.49, indicating a slight decrease compared to the previous year[99]. Management and Governance - The company has a strong management team with experienced experts, including national-level judges and senior winemakers, enhancing its competitive edge in technology and marketing[26]. - The company has undergone significant management changes, including the resignation of several key executives and the election of new board members[46][47]. - The company reported a new controlling shareholder, Shandong Jiuhuo Yuntou Technology Development Co., Ltd., effective June 20, 2023[73]. Environmental Compliance - The company’s wastewater treatment in the Houlan plant meets the GB/T31962-2015 standard, with COD concentration at 31 mg/L, below the required limit[53]. - The Huangcheng plant's wastewater treatment also complies with the GB/T31962-2015 standard, with COD concentration at 31 mg/L, indicating effective environmental management[54]. - The company has installed an online monitoring system at the Houlan plant to ensure real-time compliance with environmental standards[53]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[56]. - The company is committed to sustainable development and has implemented measures to reduce carbon emissions, although specific results were not disclosed[56]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 25,169[68]. - The largest shareholder, Shandong Jiuhuo Yuntou Technology Development Co., Ltd., holds 62,571,880 shares, representing 18.80% of the total shares[68]. - No profit distribution or capital reserve increase is planned for the half-year period, with no dividends or stock bonuses proposed[49]. Future Outlook - The company plans to continue focusing on research and development to drive future growth and innovation in its product offerings[86]. - The company aims to strengthen its market presence and develop new markets to counteract the impact of increasing imported wines[41]. - The company plans to focus on enhancing its capital structure and improving profitability in the upcoming quarters[100].