XAYS(000721)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached ¥378,718,930.72, representing a 60.15% increase compared to ¥236,482,287.75 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥46,046,940.01, an improvement of 52.11% from -¥96,149,438.26 in the previous year[21]. - The net cash flow from operating activities was ¥22,144,451.45, a significant increase of 201.92% compared to -¥21,726,774.60 in the same period last year[21]. - The basic earnings per share improved to -¥0.0802, up 52.23% from -¥0.1679 in the previous year[21]. - The total operating revenue for the first half of 2023 reached ¥378.72 million, a significant increase of 60.0% compared to ¥236.48 million in the same period of 2022[129]. - The net loss for the first half of 2023 was ¥46.67 million, an improvement from a net loss of ¥95.95 million in the same period of 2022, representing a reduction of 51.3%[131]. - The company's gross profit margin decreased to -13.4% in the first half of 2023, compared to -40.4% in the same period of 2022[129]. - Operating profit for the first half of 2023 was -¥51.88 million, an improvement from -¥95.69 million in the same period of 2022[129]. - The total comprehensive loss for the first half of 2023 was ¥46.67 million, compared to a total comprehensive loss of ¥95.95 million in the same period of 2022[131]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,638,172,178.52, a decrease of 1.96% from ¥1,670,859,596.04 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 8.52% to ¥494,726,678.66 from ¥540,773,618.67 at the end of the previous year[21]. - As of the end of the reporting period, cash and cash equivalents amounted to CNY 93,460,610.74, representing 5.71% of total assets, an increase of 0.36% compared to the previous year[51]. - Accounts receivable reached CNY 65,632,343.89, accounting for 4.01% of total assets, up by 0.18% from the previous year[51]. - Inventory increased to CNY 54,672,236.26, which is 3.34% of total assets, reflecting a rise of 0.64% year-on-year[51]. - Short-term borrowings rose to CNY 410,000,000.00, making up 25.03% of total liabilities, an increase of 4.50% compared to the previous year[51]. - The company's total liabilities increased from CNY 1,125,596,751.06 to CNY 1,139,579,376.22, an increase of about 1.2%[125]. - Owner's equity decreased from CNY 545,262,844.98 to CNY 498,592,802.30, a decline of approximately 8.5%[125]. Operational Highlights - In the first half of 2023, the company achieved a revenue growth of 15.6% in its food industrial segment, driven by the launch of 38 new products under the "Shangshi" series[35]. - The company expanded its restaurant network by launching over 10 new operating outlets across four projects in both domestic and international markets[32]. - The company reported a guest satisfaction rate of 96.83%, with 1,072 issues identified and rectified in its quality management initiatives[37]. - The company has developed 141 new specialty dishes and completed the menu restructuring for 11 old brand restaurants to enhance its culinary offerings[37]. - The company has implemented a digital management system for human resources, improving overall management efficiency and decision-making capabilities[36]. - The company has successfully integrated 213 types of traditional products into its supply chain, ensuring efficient delivery and quality control[35]. - The company’s collaboration with major retail channels has resulted in a 125% year-on-year sales increase for featured products like sauce beef and dumplings[35]. - The company has focused on enhancing its brand image through cultural experiences and innovative dining projects, capitalizing on tourism consumption trends[33]. Financial Management and Strategy - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The company reported a total of ¥2,772,526.63 in non-recurring gains and losses, with government subsidies contributing ¥562,590.01[26]. - The company has not engaged in any securities or derivative investments during the reporting period[53][54]. - The company has not made any significant asset or equity sales during the reporting period, maintaining its asset base[61]. - The company has not encountered any significant changes in its fundraising projects during the reporting period, ensuring consistency in its financial strategy[60]. - The company reported no changes in the use of raised funds, indicating stable financial management practices[60]. - The company has not faced any environmental penalties during the reporting period and is committed to sustainable practices and energy-saving measures[77]. - The company has committed to avoid competition with Xi'an Catering and ensure its long-term stable development[80]. Risks and Challenges - The company faces significant operational risks due to rising costs in labor, property rent, ingredients, and utilities, which are squeezing profit margins[65]. - The company is experiencing a talent shortage in the restaurant industry, which poses risks to team building and overall development[66]. - The company has numerous well-known brands and is at risk of trademark infringement, which could negatively impact its image and financial performance[67]. Corporate Governance - The company held its annual general meeting on May 10, 2023, with a participation rate of 42.05%, where several key reports and proposals were approved[70]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[87]. - The half-year financial report has not been audited[84]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[86]. - There are no significant related transactions in daily operations during the reporting period[89]. - The company has committed to comply with relevant laws and regulations regarding related transactions with Xi'an Catering[80]. Accounting Policies and Practices - The company has undergone accounting policy changes effective from January 1, 2023, impacting the financial reporting of deferred tax assets and liabilities[22]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial reports accurately reflect its financial status and performance[167]. - The company follows the acquisition cost accounting method for business combinations, which includes the fair value of assets, liabilities, and equity securities issued at the acquisition date[173]. - The company consolidates financial statements based on control, including all subsidiaries, and adjusts for any inconsistencies in accounting policies or periods[176]. - The company assesses expected credit losses for other receivables using specific methods and accounting treatments[192].