*ST西发(000752) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was RMB 189,407,517.79, representing a year-on-year increase of 29.37% compared to RMB 146,411,285.13 in the same period last year[19]. - The net profit attributable to shareholders of the listed company improved to a loss of RMB 10,193,673.98, a 74.48% reduction from the loss of RMB 39,946,125.04 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 5,193,408.31, a significant increase of 276.34% compared to a loss of RMB 2,945,127.76 in the same period last year[19]. - The net cash flow from operating activities was a negative RMB 5,704,400.21, showing a 90.19% improvement from a negative RMB 58,120,777.56 in the previous year[19]. - The company's total revenue for the reporting period reached ¥189,407,517.79, representing a year-on-year increase of 29.37% compared to ¥146,411,285.13 in the previous year[38]. - The company's beer segment generated revenue of ¥189,138,314.26, representing a 29.39% increase compared to the previous year[41]. - The company reported a significant reduction in financial expenses, down 58.75% to ¥12,179,697.24, due to the resolution of legal cases and reduced interest expenses[38]. - The company reported a net profit for the first half of 2021 of CNY 7.47 million, a significant recovery from a net loss of CNY 28.05 million in the same period of 2020[152]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 936,426,704.60, reflecting a 2.26% increase from RMB 915,687,317.49 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 20.57% to RMB 39,363,390.13 from RMB 49,557,064.11 at the end of the previous year[19]. - The company's cash and cash equivalents decreased to ¥25,418,808.27, down 0.47% from the previous year[46]. - The company's total liabilities increased to CNY 569,376,976.25 from CNY 556,103,508.76, representing a rise of approximately 2.5%[145]. - The total equity attributable to the parent company's owners at the end of the reporting period was 263.7 million, with a decrease of 39.94 million compared to the previous period[171]. Sales and Market Strategy - The sales model includes both direct sales and distributor sales, aiming to maximize financial efficiency while expanding market reach[27]. - The company reported a recovery in the beer market, leading to a significant increase in main business revenue driven by industry performance[27]. - Direct sales revenue decreased by 42.33% to ¥8,968,665.49, while distributor sales increased by 37.93% to ¥180,169,648.77, indicating a shift in sales strategy[32]. - The revenue from the main product, regular bottled beer (628ml*12), increased by 13.48% to ¥104,931,384.21, with a gross margin of 33.75%[32]. - The company plans to enhance its marketing system and expand its market presence outside the region, leveraging its brand advantages and digital channels[29]. Legal and Regulatory Issues - The company is currently facing multiple lawsuits, with some cases already adjudicated and others still in process, which may significantly impact its financial status[57]. - The company has engaged lawyers to actively respond to lawsuits and is negotiating debt settlements with creditors[59]. - The company has faced various legal challenges, with claims totaling over 1 billion yuan across multiple cases[88]. - The company is actively involved in litigation to recover debts, reflecting ongoing financial disputes with several entities[88]. - The company is involved in multiple legal cases that may impact its financial obligations and cash flow[90]. Environmental and Social Responsibility - The company has established a strict monitoring system for wastewater and air pollutants, with quarterly third-party testing[72]. - The subsidiary, Lhasa Beer, has a wastewater treatment facility with a design capacity of 2000 m³/d, operating at 100% efficiency[69]. - The company has developed a detailed emergency response plan for environmental incidents at its subsidiary Lhasa Beer[71]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[74]. Shareholder and Capital Structure - The company plans to raise up to ¥314,136,362 through a non-public offering of A-shares to repay debts[58]. - The non-public issuance requires approval from the shareholders' meeting and the China Securities Regulatory Commission[124]. - The total number of ordinary shareholders at the end of the reporting period was 26,537[130]. - The largest shareholder, Tibet Shengbang Holdings Co., Ltd., holds 12.74% of the shares, amounting to 33,613,192 shares[130]. Future Outlook and Strategy - The company plans to enhance its brand influence and expand its market presence through digital channels and product upgrades[56]. - The financial guidance for the next period suggests a cautious outlook due to market uncertainties[176]. - The company indicated a focus on improving operational efficiency in the upcoming quarters[176]. - The company is actively working to resolve its debt crisis by hiring professional lawyers and communicating with creditors[185].