JINHUI(SH:603919)2024-03-15 16:00Financial Performance - The total comprehensive income attributable to the parent company's owners for 2023 was ¥328,862,305.61, an increase of 17.4% from ¥280,242,491.81 in 2022[6] - Basic and diluted earnings per share for 2023 were both ¥0.65, up from ¥0.55 in 2022, reflecting an increase of 18.2%[6] - The company achieved a net profit of CNY 437,536,479.11 for the fiscal year 2023, with a statutory surplus reserve of CNY 13,719,094.97 allocated, resulting in retained earnings of CNY 1,708,024,612.07 at year-end[72] - The net profit attributable to shareholders reached RMB 328.86 million, reflecting a growth of 17.35% compared to the previous year[108] - The weighted average return on equity rose to 10.20%, an increase of 1.03 percentage points year-on-year[109] Cash Flow and Liquidity - The net cash flow from operating activities for 2023 was ¥450,174,649.97, compared to ¥319,242,776.51 in 2022, representing an increase of 41.0%[10] - Cash and cash equivalents at the end of 2023 totaled ¥1,030,752,321.46, up from ¥807,895,560.88 at the end of 2022, marking a 27.6% increase[11] - The cash inflow from operating activities in 2023 was ¥2,992,199,547.42, up from ¥2,481,394,270.80 in 2022, reflecting an increase of 20.6%[10] - The net cash flow from financing activities for 2023 was -¥162,296,403.65, worsening from -¥120,961,862.99 in 2022[11] - Cash and cash equivalents at the end of the period totaled ¥1,042,232,656.30, an increase from ¥810,134,671.99 at the beginning of the period, representing a growth of approximately 28.6%[188] Assets and Liabilities - The total equity attributable to the parent company's owners as of December 31, 2023, was ¥3,339,831,716.73, an increase of 9.3% from ¥3,054,915,409.43 in 2022[3] - The total liabilities and equity as of December 31, 2023, amounted to ¥3,804,349,811.98, compared to ¥3,486,382,177.94 in 2022, indicating a growth of 9.1%[3] - The retained earnings as of December 31, 2023, were ¥1,436,783,182.47, an increase from ¥1,181,227,077.21 in 2022, showing a growth of 21.6%[18] Credit Risk and Provisions - The company reported a bad debt provision of 218,174.66 RMB, with a year-end balance of 842,410.81 RMB[149] - The company has not recognized any significant changes in the bad debt provision for the current period, maintaining a consistent approach to credit risk management[199] - The group assesses expected credit losses based on whether the credit risk of financial assets has significantly increased since initial recognition, measuring losses accordingly[53] - The company confirms credit loss provisions based on the present value of expected cash shortfalls, reflecting the difference between all contractual cash flows and expected cash flows[52] Inventory Management - Inventory is categorized and measured at the lower of cost and net realizable value, with provisions for inventory write-downs recognized when necessary[94] - The company employs a perpetual inventory system for inventory management[96] - The company’s total inventory cash at the end of the period was ¥22,929.61, down from ¥30,704.05, reflecting a decrease of approximately 25.4%[188] Business Operations and Strategy - The company focused on optimizing marketing strategies and expanding market regions, contributing to sales growth[110] - The main business remains the production and sales of liquor, with no significant changes in the business scope during the reporting period[123][124] - The company is actively involved in various sponsorships and events to broaden its market reach and enhance brand visibility[120] - The company emphasizes digital transformation and lean management through the "81456" model to improve business quality and operational efficiency[121] Employee and Governance - The company employed a total of 2,829 staff members, with 1,474 in the parent company and 1,355 in major subsidiaries[181] - The company has established a competitive salary system based on employee performance and position value, ensuring alignment with overall company performance[182] - The board of directors held five meetings in the year, with all members attending and no instances of consecutive absences reported[169] - The audit committee consists of independent directors, ensuring oversight and compliance with financial regulations[172] Market Performance - In 2023, the company achieved operating revenue of RMB 2.55 billion, a year-on-year increase of 26.64%[108] - The Gansu province market saw a revenue increase of 26.67% year-on-year, with continuous improvement in market share[118] - Internet sales doubled, with enhanced product offerings and optimized sales region structure[118] Financial Reporting and Compliance - The company appointed a new auditing firm for the fiscal year 2023, ensuring compliance with regulatory standards[105] - The financial reporting period is defined as January 1, 2023, to December 31, 2023[99] - The company’s internal audit reports were reviewed and approved in all committee meetings, ensuring compliance with regulations[175]