JINHUI(SH:603919)2023-03-22 16:00Corporate Governance - The company held 4 meetings of the audit committee during the reporting period[1] - The company held 3 meetings of the nomination committee during the reporting period[2] - The company has no significant deficiencies in internal control during the reporting period[10] - The company has disclosed its internal control audit report[30] - The company’s governance structure is responsible for overseeing the financial reporting process, ensuring compliance and accuracy[73] - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2022[85] - The company has not experienced any changes in actual controlling shareholder status during the reporting period[77] - The company has not reported any changes in the actual controller or major shareholder pledges exceeding 80% of their holdings[79] Financial Performance - The company achieved a revenue of 2,011.73 million RMB in 2022, representing a growth of 12.49% compared to the previous year[42] - The company achieved a net profit of RMB 407,948,116.22 for the year 2022, with a proposed cash dividend of RMB 3.00 per share, totaling RMB 152,177,999.10, which represents 54.50% of the net profit attributable to shareholders[110] - The company's operating revenue for 2022 was approximately ¥2.01 billion, an increase of 12.49% compared to ¥1.79 billion in 2021[118] - The net profit attributable to shareholders for 2022 was approximately ¥280 million, a decrease of 13.73% from ¥324 million in 2021[118] - The net cash flow from operating activities for 2022 was approximately ¥319 million, reflecting a 14.32% increase from ¥279 million in 2021[118] - The total assets at the end of 2022 were approximately ¥4.10 billion, an increase of 8.54% compared to ¥3.77 billion at the end of 2021[118] - The net assets attributable to shareholders at the end of 2022 were approximately ¥3.15 billion, a 5.66% increase from ¥2.98 billion at the end of 2021[118] - The basic earnings per share for 2022 were ¥0.55, down 14.06% from ¥0.64 in 2021[133] - The weighted average return on equity for 2022 was 9.17%, a decrease of 2.15 percentage points from 11.32% in 2021[133] Related Party Transactions - The total amount of related party transactions reached 32,084.77 million RMB, accounting for 1.62% of similar transactions[23] - The company reported a significant related party transaction with Qinghai Jinhui Wine Sales Co., amounting to 3,016.99 million RMB, which is 15.23% of the total related party transactions[23] - The company engaged in related party transactions, with sales of liquor products to Gansu Jinwei Modern Agriculture Development Co., Ltd. amounting to 136.03 million RMB, representing 68.66% of similar transactions[63] - The total rental fee for leasing office space from Gansu Century Jinwei Real Estate Development Co., Ltd. over a 5-year period is 22.19 million RMB, classified as a related party transaction[64] - The company has established a rental agreement with Shanghai Yunen Property Management Co., Ltd. for 104,463 RMB over a 12-month period, also a related party transaction[55] - The company’s related party transactions with significant shareholders amounted to 2,372.46 million RMB, representing 11.97% of similar transactions[63] Environmental and Social Responsibility - The company implemented carbon reduction measures, achieving a reduction of 1,997 tons of CO2 equivalent emissions[18] - Total investment in public welfare projects amounted to CNY 10.74 million, benefiting 6,970 people[18] - The company invested CNY 1.82 million in poverty alleviation and rural revitalization projects, benefiting 4,165 people[18] - The company has upgraded environmental protection facilities and eliminated high carbon-emission equipment[18] - The company has implemented online monitoring for wastewater treatment, ensuring compliance with discharge standards[14] Shareholder Information - The company has a total share capital of 507,259,997 shares, with 96.86% being unrestricted circulating shares[36] - The largest shareholder, Shanghai Yuyuan Tourist Mart (Group) Co., Ltd., holds 126,814,900 shares, representing 25.00% of the total share capital[91] - Gansu Yate Investment Group Co., Ltd. increased its holdings by 40,580,800 shares, now owning 109,401,487 shares, which is 21.57% of the total[93] - The top ten shareholders include Gansu Yate Investment Group and Lintong Zhonghui Investment Management Center, with significant share pledges totaling 63,360,000 shares[93] - The total number of ordinary shareholders as of the end of the reporting period is 81,190, an increase from 62,770 in the previous month[91] Internal Control and Audit - The company confirmed that the revenue recognition process is a key audit matter due to the inherent risk of inappropriate revenue recognition[42] - The audit identified the measurement of inventory as a key audit matter due to its high book value and significant proportion of total assets[68] - The company reported a significant internal control deficiency identified during the audit process, which requires attention[48] - The company has implemented inventory monitoring procedures to ensure the accuracy of financial reporting[86] - The company’s revenue recognition procedures were evaluated, focusing on the effectiveness of internal controls related to sales and collections[71] Business Strategy and Market Expansion - The company attributed the increase in operating revenue to optimized marketing strategies and expanded market regions[120] - The decrease in net profit was primarily due to increased sales expenses and rising costs of raw materials[120] - The company plans to continue enhancing brand influence and optimizing product structure to drive future growth[120] - The company is focusing on "brand leadership + channel activation" as a dual-driven strategy, enhancing customer operations through various themed activities[157] - The company is expanding its market presence, actively targeting the East China and Northern markets, and leveraging online platforms to build a nationwide brand[169] - The company has established new sales companies to drive market penetration and enhance brand recognition[141] - The company is focusing on brand-led deep operations in the Gansu market and expanding into surrounding regions, including Shaanxi and Ningxia[141] Research and Development - The company has increased its R&D expenses due to a rise in project activities compared to the previous year[179] - The company has a strong R&D team, including national-level wine judges, and collaborates with universities and research institutes for product development[162] - The company has developed a unique "solid-state brewing IoT monitoring system," which is the first of its kind in the domestic white liquor production industry, and has received a national invention patent[194] - R&D expenses for the current period amounted to approximately ¥50.23 million, reflecting a 6.93% increase from ¥46.97 million in the previous year[198] - The company has established a comprehensive R&D system focused on improving product quality and food safety control levels[195]