XAYS(SZ:000721)2020-08-14 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥129,108,871.22, a decrease of 50.76% compared to ¥262,201,284.58 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥69,979,855.42, representing a decline of 323.22% from -¥16,535,202.74 in the previous year[19]. - The net cash flow from operating activities was -¥20,171,500.11, which is an 80.55% decrease compared to -¥11,172,087.89 in the same period last year[19]. - The total assets at the end of the reporting period were ¥974,625,088.63, down 11.69% from ¥1,103,595,553.38 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 11.37%, from ¥615,474,859.00 to ¥545,495,003.58[19]. - The basic earnings per share were -¥0.1402, a decline of 323.56% compared to -¥0.0331 in the same period last year[19]. - The company reported a net profit excluding non-recurring gains and losses of -¥72,601,672.06, a decline of 333.90% from -¥16,732,321.14 in the same period last year[19]. - The company reported a significant increase in financial expenses by 123.91% to ¥2,652,076.50, primarily due to increased interest expenses[40]. - The company reported a net loss of ¥70,652,043.36 for the first half of 2020, compared to a smaller loss in the previous year[137]. - The total comprehensive income for the period was a loss of CNY 69,979,855.42, reflecting a significant decline in profitability[151]. Operational Adjustments - The company has adjusted its product offerings in response to market changes during the pandemic, focusing on long-term products and enhancing online sales channels[36]. - The company has implemented a "23456" strategic plan to navigate the challenges posed by the COVID-19 pandemic and drive innovation[36]. - The company is actively pursuing capital operations and optimizing underperforming assets through mergers and acquisitions to enhance overall profitability[39]. - The company aims to expand its market presence by integrating dining services with e-commerce and new retail formats[39]. - The company has launched a new marketing campaign titled "The Taste of Hometown," utilizing various media platforms to enhance brand exposure and product sales[36]. Subsidiaries and Brand Recognition - The company has 16 subsidiaries and 16 branches, with several brands recognized as "Chinese Time-honored Brands" and 8 brands acknowledged as "Xi'an Old Brands" by the Xi'an Municipal Bureau of Commerce[33][36]. - The company is actively promoting the reconstruction project of Xi'an Restaurant on East Dajie, having obtained necessary permits and initiated the construction process[36]. - The company has successfully opened several new locations, including Qingyazhai Qujiang Yijie and Tongshengxiang Bailu Warehouse, with stable operations reported[36]. Cash Flow and Financial Position - Cash and cash equivalents decreased by 11.98% to ¥100,390,832.99, accounting for 10.30% of total assets[46]. - The company's total equity decreased to CNY 549,843,353.24 from CNY 620,405,415.69, reflecting a decline of about 11.4%[129]. - The total liabilities decreased to CNY 424,781,735.39 from CNY 483,190,137.69, reflecting a reduction of approximately 12.1%[129]. - The company's total assets as of June 30, 2020, were CNY 974,625,088.63, down from CNY 1,103,595,553.38 at the end of 2019, indicating a decrease of about 11.7%[130]. Shareholder Information - The total number of shares before the change was 499,055,920, with 12.67% being limited shares and 87.33% being unrestricted shares[97]. - The company’s major shareholder, Xi'an Tourism Group, holds 21.04% of the shares, totaling 105,000,000 shares[101]. - The second-largest shareholder, Xi'an Weide Industrial Development Co., holds 5.35% of the shares, totaling 26,681,250 shares[101]. - The company did not conduct any repurchase transactions during the reporting period[107]. Corporate Governance and Compliance - The semi-annual financial report was not audited[63]. - There were no significant litigation or arbitration matters during the reporting period[66]. - The company did not experience any bankruptcy reorganization during the reporting period[65]. - The company did not have any stock incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[72]. Social Responsibility and Community Engagement - In the first half of 2020, the company invested CNY 2,000 to improve infrastructure for impoverished households in Yuchuan Village, enhancing their living conditions[88]. - The company conducted 14 home visits to impoverished households to understand their living and production situations during the first half of 2020[89]. - The company facilitated the sale of agricultural products from Yuchuan Village, promoting local produce such as pomegranates and apricots[88]. Accounting Policies and Financial Reporting - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[170]. - The company categorizes financial assets into three types: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[187]. - The company recognizes impairment losses for financial assets measured at amortized cost and adjusts other comprehensive income for debt instruments measured at fair value[189].