[年报]张 裕Ｂ(200869):2021年年度报告（英文版）
原标题:张 裕Ｂ:2021年年度报告（英文版） YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport Contents I、ImportantNotice,ContentsandDefinition................................................................................3 II、BriefIntroductionfortheCompanyandMainFinancialIndicators..................................6III、ManagementDiscussionandAnalysis.................................................................................11 IV、CorporateGovernance..........................................................................................................33 V、EnvironmentalandSocialResponsibility.............................................................................56 VI、Majorissues............................................................................................................................59 VII、ChangesinSharesandShareholders’Situation...............................................................70 VIII、RelatedSituationofPreferredShares..............................................................................79 IX、RelatedSituationofBonds....................................................................................................79 X、FinancialReport......................................................................................................................79 YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
Aboutsignificantrisksthatmaybefacedinproductionandoperationprocess,pleasereferto“(5)Potential Risks” of “11. Expectation for the Company’s Future Development” in the “III.ManagementDiscussionandAnalysis”ofthisreport.Investorsareadvisedtoreadcarefullyandpayattentiontoinvestmentrisks. TheCompany’spreliminaryschemeofprofitdistributiondeliberatedandpassedbytheboardofdirectorsthistimeisshownasfollowing:BasedontheCompany’stotal685,464,000shares,theCompanyplanstopayCNY4.5(includingtax)incashasdividendsforevery10sharestoallshareholdersandsend0bonusshare(includingtax);capitalreservewillnotbetransferredtoequity. YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport ReferenceDocuments (1)TheoriginalofAnnualReportautographedbythechairman. (2)The Financial Statements autographed and signed by the chairman, chief accountant andaccountantsincharge. (3)TheProspectusandPublicOfferingAnnouncementforStockBin1997;TheProspectusandTheShares’Change&PublicOfferingAnnouncementforStockAin2000. (4)TheoriginalsofalldocumentsandannouncementsthattheCompanymadepublicduringthereportperiodinthenewspapersdesignatedbyChinaSecuritiesRegulatoryCommission.YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
TheaccountingfirmappointedbytheCompany
□Available ?Notavailable ThefinancialadviserappointedbytheCompanytoperformthedutyofcontinuoussupervisionduringthereportperiod □Available ?Notavailable YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
□Yes ?No Thelowerofthenetprofitbeforeandafternon-recurringgainsandlossesisnegative□Yes ?No 7.Differences in accounting data under PRC accounting standards and internationalaccountingstandards (1)DifferencesbetweennetprofitsandnetassetsinthefinancialreportdisclosedaccordingtobothinternationalaccountingstandardsandPRCaccountingstandardsYantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
□Yes ?No 9.Itemandamountofnon-recurringprofitandloss ?Available □Notavailable Unit：CNY
YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
□Available ?Notavailable Theredoesnotexistspecificsituationofotherprofitandlossprojectsconformingtothedefinitionofnon-recurringprofitandloss. Explanation for regarding the non-recurring profit and loss specified in the ExplanatoryAnnouncementonPublicCompany’sInformationDisclosureNo.1–Non-recurringProfitandLossasrecurrentprofitandloss □Available ?Notavailable Thereisnosituationregardingthenon-recurringprofitandlossspecifiedintheExplanatoryAnnouncementonPublicCompany’sInformationDisclosureNo.1–Non-recurringProfitandLossasrecurrentprofitandloss. YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport III.ManagementDiscussionandAnalysis 1.SituationofindustryinwhichtheCompanyoperatesduringthereportperiodIn2021,astrongwineconsumptionatmospherehadnotyetbeenformedinChina.Thewinemarketwasstillmainlydistributedinsomedevelopedcoastalareas.Mostconsumersdidnotdevelopthehabitofdrinkingwinefrequently.Wineconsumptionwashighlyvulnerabletotheimpactoftheepidemicandspirits.Theoverallscaleofdomesticwinemarketcontinuedtodecline,thesalesvolumeofimportedwineanddomesticwinecontinuedthetrendof“doubledecline”,andthevastmajorityofwineproductionandoperationenterpriseshaddifficultiesinoperation.Thedomesticwineindustrywasstillonthevergeofloss. Facingthesedisadvantages,theCompanypersistedintakingthemarketasthecenter,adheredtothedevelopmentstrategyof“Focusonmiddle-and-highlevel,Focusonhighquality,Focusonbigproduct”andthemarketingphilosophyof“obtaininggrowthfromtheterminalandnurturingconsumers”, took market-oriented action to adjust marketing strategies in a timely manner,promotedreformandinnovationtostimulateenterprisevitality,andtookconsumersatisfactionastheultimategoaltocontinuouslyimproveproductquality.In2021,theCompanyrealizedtheoperatingrevenueofCNY3,953.06millionwithayear-on-yearincreaseof16.42%andthenetprofitattributabletotheparentcompany’sshareholdersofCNY500.1millionwithayear-on-yearincreaseof6.21%,maintainingtheleadingroleintheindustry. 2.Mainbusinessesduringthereportperiod TheCompanyneedtocomplywiththedisclosurerequirementsofFoodandLiquorManufacturingRelatedBusinessesinShenzhenStockExchangeIndustryInformationDisclosureGuidelineNo.3-IndustryInformationDisclosure. (1)SituationoftheindustryinwhichtheCompanyoperates Duringthereportperiod,theCompany’smainbusinessesareproductionandoperationofwineandbrandy, thus providing domestic and foreign consumers with healthy and fashionablealcoholicdrinks.Comparedwithearlierstage,therearenosignificantchangeshappenedtotheCompany’smainbusinesses.ThewineindustrythattheCompanyinvolvedinisstillingrowthstage.Althoughbeingaffectedbymanyfactorsincludingtheepidemicfortheshort-term,thecompetitioninthemarketisfierce,thewineconsumptiontemporarilydeclines,andalargenumberofwineproductionenterprisesareonthebrinkofloss.However,seenfromthelongterm,withthechangeintheconsumptionconceptionofyoungerconsumers,thewholedomesticwinemarketislikelytobeontherisingtrend.TheCompanyisattheforefrontinthedomesticwinemarketandissignificantlyaheadofmajordomesticcompetitors. YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
Duringthereportperiod,theredidnotexistthetrademarkownershipdispute,foodqualityissueorfoodsafetyincidentetc.thathadasignificantimpactontheCompany.Majorsalesmode TheCompany’smainsalesmodewasthedistributionmode,andmainsaleschannelwasofflinesales,thatis,theCompany’sproductsweredistributedtosalesterminalsthroughapproximately4,000distributorsathomeandabroadandultimatelyprovidedtoconsumers.Distributionmode ?Available □Notavailable (1)Situationofchangeinthenumberofdistributors
YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
Theratioofsalesinself-ownedexclusiveshopexceeds10% □Available ?Notavailable Salesofonlinedirectselling ?Available □Notavailable
Procurementmodeandprocurementcontent Unit：CNY’0000
YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
□Available ?Notavailable Theyear-on-yearchangeinthepriceofmajoroutsourcedrawmaterialsexceeds30%□Available ?Notavailable Majorproductionmode TheproductionmodeoftheCompanyisself-produce. Manufacturingconsignment □Available ?Notavailable Majorcomponentsofoperatingcosts Pleasereferto‘4.Analysisinmainbusiness’inthischapter. Yieldandinventory Pleasereferto‘4.Analysisinmainbusiness’inthischapter. 3.Analysisofcorecompetitiveness Comparedwith theparticipantsinthe arenaoftheChinese winesector,the Companyownsfollowingadvantages: Firstly,theCompanyhasalargebrandinfluence.Mainbrandsusedhavealonghistory.“Changyu”,“NobleDragon”and“AFIP”areall“Chinafamousbrands”thathavestronginfluenceandgoodreputation. Secondly,theCompanyhassetupanationwidemarketingnetwork.TheCompanyhasformeda“three-level” marketing network system mainly composed of the Company’s salesmen anddistributorsandtheonlinesalesplatformhashadacertainscaleandinfluence,owingstrongmarketingabilityandmarketexploitationability. Thirdly,theCompanyhasstrongscientificprowessandaproductR&Dsystem.Relyingonthecountry’s“State-levelWineR&DCenter”,theCompanyhasownedpowerfulwinemakerteam,masteredadvancedwinemakingtechnologyandproductionprocessesandhadstrong productinnovationcapacityandperfectqualitycontrolsystem. Fourthly,theCompanyisinpossessionofalotofgrape-growingbasesthatarecompatiblewithitsdevelopmentrequirements.TheCompanyhasdevelopedagreatdealofvineyardsinthemostsuitableareasforwinegrapegrowingsuchasShandong,Ningxia,Xinjiang,Liaoning,HebeiandYantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
Duringthereportperiod,thedomesticwineindustrycontinuedthedeclinetrendandthemarketcompetition was very intense. The Company realized the operating revenue ofCNY3,953.06millionwithanincreaseof16.42%comparedwithlastyear,exceedingthetargetfixedatthebeginningoftheyearofrealizingoperatingrevenuenolessthanCNY3.8billion,andrealizedthenetprofitattributabletotheparentcompany’sshareholdersofCNY500.1millionwithanincreaseof6.21%comparedwithlastyear.Themainworksduringthereportperiodwereshownasfollowed: Firstly, the Company adhered to the market-oriented strategy and timely adjusted marketingstrategies.Forwine,onthebasisoftheThree-Focusstrategy,theCompanyfurtherfocusedonbrands, products, cities, methods and barcode; actively adjusted the organizational structure,realizinggoodperformanceintheannihilationwarandshowingagoodmomentuminsomemarkets;strengthenedthemanagementandcontrolofmarketingexpensesandfurtherfocusedthemarketinvestmentinconsumercultivation;constantlyinnovatedthecontentsandmethodsofbrandcommunication,expandingthebrandinfluence.Forbrandy,theCompanyfurtherimprovedthesalessystem,realizinghigh-lowseparationintraditionalmaturemarketssuchasGuangdongandYantaiandmakingtheindependentsystemcoverthenationalmarket;continuedtocarryoutmarketingactivities,suchastastingactivities,chateauexperience,exchangeofemptybottlesforbrandyandKoyaXOculturalexperiencehallandsoon;steadilyimprovedthequantityandqualityofnewdistributors,suchasgroup-buying,consumerandcross-borderdistributors.Forimportedwine,theCompanycontinuedtooptimizethestructureofimportedproductsandfocusedonthecoreproductsoftheCompany'soverseasacquiredbrands.Besides,theCompanyacceleratedthepaceofdigitaltransformationandupgrading,achievingsustainedandrapidgrowthintheonlinebusiness andmakingitssalesrankfirstinthewineindustry'sentirenetworksales.Secondly,theCompanypromotedreformandinnovationandstimulatedthevitalityofenterprises.Inviewoftheirreplaceableroleofhigh-endproductsinenhancingbrandinfluenceandpromotingthelong-termdevelopmentofthecompany,theCompanyestablishedtheLongyubusinessdivisioninorderforthehigh-endwinestostrivetobreakthroughthemarketdilemmaandbegintoreverse,YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport thusleadingtheChinesewinemarkettograduallyrecoverinanall-roundway.Theintegrationofvarioustourismunitswascompleted,andtheorganizationandpersonnelwasfurtherstreamlined,greatly improving the operating efficiency. The Company solidly promoted technologicalinnovationandwasauthorized3nationalinventionpatentsofwineand2nationalinventionpatentsofbrandy.Italsocooperatedwithonlinebigenterprises,suchasGuoqu,YixinKechuangandJiuaizhihe,usedplatformsincludingJD.com,TmallandTiktoktoincreaseproductandbrandpromotion efforts, and continuously expanded the scale of fans, further enhancing brandcommunicationpower,guidanceandinfluenceandpromotingproductsales.Intheplantingprocess,theCompanyintroducedtheinternationally-leadingNETAFIM"integrationofwaterandfertilizer"dripirrigationsystemtoachieveprecisewaterandfertilizersupplytograpes,greatlyreducingtheuseoflabor,waterandfertilizeruse;organicfertilizerandbiologicalpestcontroltechnologywaspromotedtocontinuouslyimprovetheyieldoforganicgrapes.Intheproductionprocess,theCompanyintroducedascientificandreasonablethermalenergyrecoverysystemtorecycleandutilize equipment waste heat; use electricity at different times and peaks and use the heightdifference of production facilities to facilitate material transportation that further reducesproductioncosts,andtheenergyconsumptionindexpertonofwinehasreachedthenationalgreenfactorystandard.Inthelogisticslink,thelogisticsmodeofusingthree-layercartonsandpalletpackagingfornationalcirculationhasbeenpromoted,andtheamountofpaperusedandpackagingcostshavebeengreatlyreduced. Thirdly, the Company strengthened financial and safety management, strengthened auditsupervisionandpreventedoperationalrisks.TheCompanyhascoordinatedthechannelofexpenselisting, strengthened fixed capital management and financial management of joint venturecompanies,reducedcapitaloccupation,savedlaborcostsandreducedfinancialrisks.Establishandimprove the occupational safety and health system, carry out occupational safety and healtheducationforemployees,takemultiplemeasurestomobilizeemployeestobevaccinatedintime,strengthen employees’ awareness of environmental protection, safety and occupational health,improveemployees’safetyproductionskills,self-protectionabilityandgroupprotectionawareness,activelycarryouttherectificationofhiddendangersinsafetyproduction,continuouslyimprovethelevelofsafetyproductionmanagementtopreventsafetyloopholesandsuccessfullyachieve“zeroinfectionandzeroaccident”.Byconductioninternalunitprofitauthenticityaudits,flightaudits,resignauditofmiddleandsenior-levelemployeesandtechnicalrenovationprojectauditstopreventmajorviolationsoflawsandisciplines. Fourthly,theCompanyfurtherimprovedthesalarysystem,strengthenedtalentteamconstructionandimprovedthecombateffectivenessofthemanagementteam.Throughprocessdecompositionandsegmentedaccounting,theCompanyimprovedtheperformanceassessmentandevaluationsystem of the production system and improved the production efficiency. Further refine theevaluation and reward and punishment standards of brand winemaker that makes theresponsibilities,rightsandbenefitsofbrandwinemakersmoreclearandlaysatalentfoundationforcontinuousimprovementofproductquality.Continuetocarryoutemployeetrainingandfurtherattract social outstanding talent to inject fresh blood into the enterprise and enhance thedevelopmentmomentumoftheenterprise. YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
?Available □Notavailable Unit:CNY
YantaiChangyuPioneerWineCo.,Ltd.2021AnnualReport
□Available ?Notavailable ③WhethertheCompany’ssalesrevenueformaterialobjectismorethanlaborservicerevenue ?Yes □No
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