*ST步高(002251) - 2019 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2019 was RMB 10,070,442,473.07, representing a 3.16% increase compared to RMB 9,761,893,204.93 in the same period last year[18]. - The net profit attributable to shareholders was RMB 247,032,475.88, which is a 1.20% increase from RMB 244,113,002.48 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was RMB 232,739,643.36, showing a significant increase of 14.72% compared to RMB 202,878,539.86 last year[18]. - The net cash flow from operating activities was RMB 883,337,867.92, up by 10.11% from RMB 802,239,784.72 in the same period last year[18]. - The total operating revenue for the reporting period was RMB 1,007,044.25 million, representing a year-on-year growth of 3.16%[49]. - The gross profit margin for the reporting period was 24.63%, an increase of 1.85 percentage points compared to the same period last year[44]. - The company reported a significant decline in home appliance revenue, which dropped by 46.55% to ¥382,126,832.15, indicating a strategic shift away from low-margin sales[51]. - The company reported a net profit margin of 0.40% for the same period, with a net profit of 198.98 million[120]. - The total profit for the first half of 2019 was CNY 320,877,976.40, compared to CNY 305,989,084.78 in the first half of 2018, marking an increase of approximately 4.5%[180]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 21,653,473,552.95, reflecting a 3.55% increase from RMB 20,910,215,860.78 at the end of the previous year[18]. - The net assets attributable to shareholders reached RMB 7,653,894,123.43, which is a 2.14% increase from RMB 7,493,350,403.10 at the end of the last year[18]. - The company's current ratio at the end of the reporting period was 0.48, down from 0.62, indicating a decline of 0.14[60]. - The asset-liability ratio increased to 62.89%, up from 61.37%, reflecting a rise of 1.52%[60]. - The company's goodwill amounted to ¥1,014,649,130, representing a decrease of 0.14% from the previous period[59]. - The company's cash and cash equivalents at the end of the reporting period were ¥1,434,633,065, representing 6.63% of total assets[58]. - The company's current assets decreased to RMB 5,080,871,918.49 from RMB 5,575,810,131.02 at the end of 2018, reflecting a decline of approximately 8.8%[169]. - The company's non-current assets totaled RMB 16,572,601,634.46, up from RMB 15,334,405,729.76, marking an increase of about 8.1%[170]. Store Operations and Expansion - The company opened 42 new supermarket stores and 1 department store during the reporting period, while closing 2 underperforming stores[34]. - The company operates a total of 381 stores, including 329 supermarkets and 52 department stores, covering an area of approximately 4.49 million square meters[35]. - The company has opened over 200 digital operation stores, with online GMV nearing 700 million yuan[34]. - The company has expanded its chain operations to 14 cities in Hunan and parts of Jiangxi, Guangxi, Sichuan, and Chongqing[96]. - The company plans to invest RMB 667 million from remaining funds into the Linli Xin'an Fireworks Square project, among other projects totaling RMB 5,000 million[85]. Revenue Sources - Main business revenue from wholesale and retail accounted for ¥8,851,862,780.11, which is 87.90% of total revenue, with a year-on-year growth of 2.40%[51]. - Supermarket revenue increased by 10.24% to ¥6,197,172,548.01, making up 61.54% of main business revenue[51]. - Revenue from other business segments rose by 9.02% to ¥1,218,579,692.96, accounting for 12.10% of total revenue[51]. - Revenue from utility payment services reached 354.93 million RMB, reflecting a 3.15% increase[124]. Strategic Initiatives and Risks - The company has disclosed potential risks and corresponding measures in the report, emphasizing the importance of investor awareness[5]. - The company faces risks from fluctuating consumer demand, market competition, and cross-regional operations[95][96]. - The company plans to enhance strategic transformation, innovate business models, and optimize product structure to mitigate risks[97]. - The company is focusing on market expansion and enhancing user engagement through new promotional strategies[125]. Shareholder and Governance - The company has committed to distributing at least 20% of the annual distributable profits as cash dividends, contingent upon meeting the conditions set forth in the company’s articles of association[107]. - The company has established a framework for shareholder returns, including cash and stock options, to enhance shareholder value[107]. - The company has maintained compliance with all commitments made to shareholders during the reporting period[106]. - The company’s major shareholder, Zhong Yongli, confirmed that he has not engaged in any competing business during the reporting period[104]. Community Engagement and Social Responsibility - The company has helped 75 impoverished villages and established 58 poverty alleviation procurement bases by June 2019[143]. - A total of 896 senior executives have participated in poverty alleviation efforts, helping 3,558 impoverished individuals[143]. - The company donated ¥15 million to the Sanhua Village Committee for office facilities and ¥500,000 to support poverty alleviation in Bijie, Guizhou[144]. - The company is committed to long-term poverty alleviation efforts, focusing on "industrial poverty alleviation, employment poverty alleviation, love education, and charitable public welfare" initiatives[146].