GYLS(SH:600059)2024-03-28 16:00Joint Ventures and Investments - The company established a joint venture, Zhejiang Longshan Jiu Plus Brand Management Co., with a registered capital of 10 million RMB, holding a 35% stake[1]. - The company plans to set up a Shaoxing Wine Development Fund with a total fund size of 30 million RMB to enhance the brand culture and influence of Shaoxing yellow wine[1]. - In 2023, the company invested 36,344.03 million RMB in the first phase of the yellow wine industrial park project, with a total accumulated investment of 96,964.25 million RMB[3]. - The company reported a total investment of 94,960.51 million CNY for the Huangjiu Industry Park Project (Phase I), with 36,344.03 million CNY invested during the reporting period[77]. - As of the end of the reporting period, the cumulative investment in the project reached 96,964.25 million CNY, achieving an investment progress of 102.11%[77]. - The total investment for the yellow wine industrial park project (Phase I) is 1.942 billion RMB, with 959 million RMB raised through non-public stock issuance for its construction[136]. - The company has completed a capital contribution of 5 million RMB to the Hangzhou Guyue Longshan Venture Capital Fund, which has been registered and approved[139]. Financial Performance - Total operating revenue for 2023 reached ¥1,783,701,654.24, an increase of 10.1% from ¥1,619,963,795.69 in 2022[95]. - Total operating costs for 2023 were ¥1,533,800,703.07, up 10.2% from ¥1,391,348,629.02 in 2022[95]. - Net profit attributable to shareholders for 2023 was ¥396,608,474.40, compared to ¥202,110,357.48 in 2022, reflecting a significant increase[98]. - Basic earnings per share for 2023 were ¥0.44, doubling from ¥0.22 in 2022[98]. - The company reported a total profit amounted to ¥538,277,784.94, compared to ¥259,270,635.96 in the previous year, reflecting a growth of approximately 107%[119]. - The company achieved a net profit attributable to shareholders of 396,625,528.72 RMB, an increase of 96.47% compared to the previous year[168]. - The net profit after deducting non-recurring gains and losses was 191,480,890.03 RMB, reflecting a 5.15% increase year-on-year[168]. - The operating cash flow net amount reached 393,399,906.11 RMB, up by 90.10% from the previous year[168]. Environmental and Sustainability Efforts - The company adheres to environmental protection standards and has implemented measures to monitor and control pollutant emissions[15]. - The total emissions approved for the Shen Yonghe Distillery are 489,100 tons/year, with specific emissions of 27.24 tons/year (NOx) and 81.55 tons/year (SO2) for the same facility[9]. - The wastewater treatment system investment is approximately 35 million yuan, and the total wastewater processed from January to December 2023 is 303,371 tons, which is below the approved discharge limit[9]. - The annual monitoring results for wastewater at Shen Yonghe Distillery show compliance with standards: pH 7.4, CODcr 20 mg/L, NH3-N 0.616 mg/L, TN 8.94 mg/L, TP 0.60 mg/L, BOD5 8.2 mg/L, SS 10 mg/L[9]. - The company has implemented carbon reduction measures, achieving a reduction of 1,000 tons of CO2 equivalent emissions[24]. - The company utilizes biogas for power generation to reduce air pollution and improve energy efficiency[24]. - The biogas power generation project at the Gu Yue Long Shan Brewery generated approximately 940,000 KWh of electricity in 2023, reducing biogas emissions by 380,000 m³ and cutting carbon dioxide emissions by about 1,000 tons[25]. - The company has committed to environmental protection measures, including a comprehensive environmental impact assessment for its construction projects[38]. - The company has established a monitoring system for various pollutants, ensuring compliance with environmental standards[42]. - The company has set emission limits for various pollutants, including NOx and SO2, to adhere to national standards[42]. Market and Product Development - The company aims to expand its high-end liquor market by focusing on core products such as the Guo Niang 1959 series and Qinghua Zui series, while also developing mid-tier products[99]. - The company plans to establish its first overseas tasting room and warehouse, targeting key international markets including Japan, Hong Kong, Macau, and Europe and America[99]. - The company is focusing on high-end, young, and online market expansion strategies to capture growth opportunities in the yellow wine sector[125]. - The company is exploring new product lines, including fruit wine and women's yellow wine, to attract younger consumers and expand its market presence[100]. - The company launched new products including low-sugar yellow wine and the world's first glutinous rice whiskey, catering to modern consumer preferences[174]. - The company is enhancing its brand image through various cultural and promotional activities, including the establishment of a yellow wine museum and international training centers[177]. Shareholder and Corporate Governance - The company has engaged in significant related party transactions, including sales and rental agreements, totaling over 7 million RMB[31]. - The company has appointed Tianjian Accounting Firm as the auditor for the fiscal year 2023, and plans to appoint Lixin Accounting Firm for the fiscal year 2024 after a public bidding process[49]. - The major shareholders include China Shaoxing Huangjiu Group Co., Ltd. with a 36.71% stake, and Hong Kong Central Clearing Limited with a 1.13% stake[60]. - The company has not disclosed any major litigation or arbitration matters during the reporting period[51]. - There are no significant changes in related party transactions or financial dealings with related parties reported[54]. - The company has not reported any changes in share capital or shareholder structure during the reporting period[58]. - The company has no controlling shareholder situation, indicating a stable ownership structure[63]. - The company did not experience any changes in the controlling shareholder during the reporting period[64]. Employee Development and Training - The company conducted 45 training sessions with 4,539 participants to enhance employee skills and capabilities[5]. - The company introduced a talent cultivation program, including a 3D modeling class and advanced training for yellow wine, to improve workforce quality[5]. - The company established a management, sales, and technology channel system to enhance talent selection and management efficiency[5]. Risk Management and Compliance - The company has not reported any significant internal control deficiencies during the reporting period[11]. - The company emphasizes the importance of safety and risk management, implementing strict measures to ensure high safety standards in production[104]. - The company faces no significant risks that could materially impact its operations, with detailed risk management strategies in place[182].