JGJC(000799)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 was CNY 1,541,382,315.66, a decrease of 39.24% compared to CNY 2,536,952,389.28 in the same period last year[11]. - The net profit attributable to shareholders of the listed company was CNY 421,945,928.58, down 41.23% from CNY 717,931,898.71 year-on-year[11]. - The net cash flow from operating activities was CNY 83,133,641.25, a significant decline of 72.35% compared to CNY 300,714,245.00 in the previous year[11]. - Basic earnings per share decreased to CNY 1.2986, down 41.23% from CNY 2.2095 in the same period last year[11]. - The net profit after deducting non-recurring gains and losses was CNY 416,532,827.60, a decrease of 41.85% compared to CNY 716,260,719.27 in the same period last year[11]. - The weighted average return on net assets was 9.67%, down 8.82% from 18.49% in the previous year[11]. - The company reported a total revenue of 4,176.09 million yuan for the first half of 2023, with a significant portion attributed to sales of white liquor[58]. - The company reported a total of 577 million yuan for labor services provided by COFCO Nutrition and Health Research Institute Co., Ltd.[56]. Sales and Distribution - In the first half of 2023, the company's online sales reached 112 million CNY, while offline sales amounted to 1.425 billion CNY, with total sales revenue of 1.537 billion CNY[16]. - The top five distributors contributed 585 million CNY to sales, accounting for 38.07% of total sales, with no accounts receivable from these clients at the end of the period[16]. - The sales revenue from the "Inner Reference" series was CNY 441.49 million, accounting for 28.64% of total revenue, down 31.67% year-on-year[33]. - The company is focusing on the "Red坛" flagship product, establishing an independent sales team and allocating special funds for promotion[26]. - The company is transitioning its marketing model from channel-based to BC linkage, enhancing sales effectiveness through activities like bottle opening and scanning[25]. Production and Inventory - The total production capacity is approximately 12,000 tons, with ongoing projects expected to add an additional 10,800 tons upon completion[19]. - The company produced 4,447 tons of the "Neican" series, 3,019 tons of the "Jiugui" series, and 597 tons of the "Xiangquan" series in the first half of 2023, with ending inventory of finished liquor at 5,708 tons[19]. - The company has a total of 39,448 tons of base liquor in inventory, indicating a strong production capability and potential for future sales[19]. - Inventory stood at CNY 1,418,687,538.52, representing 23.31% of total assets, with a slight increase of 0.98% year-on-year[37]. Research and Development - The company increased R&D investment by 75.24% to CNY 8.01 million, primarily due to increased outsourcing expenses[31]. - Research and development expenses increased to CNY 8,014,657.35, up 75.5% from CNY 4,573,605.94 year-on-year[80]. Environmental and Compliance - The company has a wastewater treatment capacity of 2400 tons per day, ensuring compliance with relevant pollution discharge standards[52]. - In the first half of 2023, the company spent 1.4878 million yuan on pollution prevention and control measures[52]. - The company paid an environmental protection tax of 29,894.74 yuan in the first half of 2023[52]. - The company has eliminated 100 out of 323 high-energy-consuming motors in the first half of 2023, aiming to save 43,342 kWh of electricity annually and reduce CO2 emissions by 26.44 tons[53]. Financial Position - The total assets at the end of the reporting period were CNY 6,084,966,477.94, an increase of 4.30% from CNY 5,834,330,586.35 at the end of the previous year[11]. - Cash and cash equivalents at the end of the reporting period amounted to CNY 3,003,658,761.97, accounting for 49.36% of total assets, a decrease of 3.39% from the previous year[37]. - The total liabilities increased to CNY 1,933,171,711.13 from CNY 1,683,433,329.38, marking an increase of approximately 14.79%[77]. - The company's equity attributable to shareholders was CNY 4,151,794,766.81, slightly down from CNY 4,152,256,512.23, indicating a marginal decrease of about 0.011%[77]. Shareholder Information - The total number of unrestricted ordinary shareholders at the end of the reporting period is 324,928,980 shares, representing 100% of the total shares[66]. - The largest shareholder, Zhonghuang Co., Ltd., holds 100,727,291 shares, accounting for 31.00% of the total shares[68]. - The second-largest shareholder, China Bank Co., Ltd. - CMB Index Fund, holds 13,961,859 shares, representing 4.30% of the total shares[68]. Corporate Governance - The company reported no significant litigation or arbitration matters during the reporting period[54]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[54]. - The company has not provided any external guarantees in violation of regulations during the reporting period[54]. - The company's half-year financial report has not been audited[54]. Accounting Policies - The financial statements are prepared based on the assumption of going concern and comply with the latest accounting standards issued by the Ministry of Finance[100]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts[99]. - The company adheres to the disclosure requirements for food and liquor manufacturing as per the Shenzhen Stock Exchange guidelines[99]. - The company has not reported any significant changes in accounting policies that would affect the financial statements[165].