[中报]深粮B(200019):2022年半年度报告（英文版）
原标题:深粮B:2022年半年度报告（英文版） 【August 2022】 Section I. Important Notice, Contents and Interpretation Board of Directors, Supervisory Committee, all directors, supervisors and senior executives of SHENZHEN CEREALS HOLDINGS CO.,LTD. (hereinafter referred to as the Company) hereby confirm that there are no any fictitious statements, misleading statements, or important omissions carried in this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completion of the whole contents. Person in charge of the Company Hu Xianghai, Head of Accounting Lu Yuhe and Head of Accounting Institution (Accounting Supervisors) Wen Jieyu hereby confirm that the Financial Report of Semi-Annual Report 2022 is authentic, accurate and complete. All Directors are attended the Board Meeting for deliberation of this Report. Concerning the forward-looking statements with future planning involved in the semi-annual report, they do not constitute a substantial commitment for investors, Securities Times, China Securities Journal, Hong Kong Commercial Daily and Juchao Website (www.cninfo.com.cn) are the media appointed by the Company for information disclosure, all information of the Company disclosed in the above mentioned media should prevail. Investors are advised to exercise caution of investment risks. The Company has analyzed the risk factors that the Company may exist and its countermeasures in the report, investors are advised to pay attention to read “Risks and Countermeasures”in the report of Section III-Management Discussion and Analysis. This report has been prepared in Chinese and English version respectively. In the event of difference in interpretation between the two versions, Chinese report shall prevail. The Company plans not to distributed cash dividend, bonus and no capitalizing of common reserves either. Contents Section I Important Notice, Contents and Interpretation .................................................................................................................................................................................. 错误!未定义书签。 Section II Company Profile and Main Financial Indexes..............................................................6 Section III Management Discussion and Analysis........................................................................10 Section IV Corporate Governance.................................................................................................28 Section V Enviornmental and Social Responsibility....................................................................29 Section VI Important Events..........................................................................................................31 Section VII Changes in Shares and Particular about Shareholders...........................................40 Section VIII Preferred Stock...........................................................................................................错 误!未定义书签。 Section IX Corporate Bonds............................................................................................................错 误!未定义书签。 Section X Financial Report..............................................................................................................47 Documents Available for Reference 1. Text of financial statement with signature and seals of the person in charge of the Company, person in charge of accounting works and person in charge of accounting institution(accounting supervisor); 2. Original and official copies of all documents which have been disclosed during the reporting period; 3. Original copies of Semi-Annual Report 2022 with signature of the person in charge of the Company. Interpretation
Section II Company Profile and Main Financial Indexes I. Company profile
1. Way of contact Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or not □ Applicable √Not applicable The registrations address, offices address and codes as well as website and email of the Company have no changes in the Period, found more in Annual Report 2021. 2. Information disclosure and preparation place Whether information disclosure and preparation place changed in reporting period or not □ Applicable √ Not applicable The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation place for semi-annual report have no change in reporting period, found more details in Annual Report 2021. 3.Other relevant information Whether other relevant information has changed in the reporting period □ Applicable √ Not applicable IV. Main accounting data and financial indexes Whether information disclosure and preparation place changed in reporting period or not □Yes √No
Accounting Standards) and Chinese GAAP (Generally Accepted Accounting Principles) √ Applicable □ Not applicable Unit: CNY/RMB
rules and Chinese GAAP (Generally Accepted Accounting Principles) □ Applicable √ Not applicable The Company has no above mentioned condition occurred in the period 3. Explanation on differences of the data under accounting standards in and out of China □ Applicable √ Not applicable VI. Items and amounts of extraordinary profit (gains)/loss √ Applicable □ Not applicable Unit: CNY/RMB
Information on the definition of non-recurring profit(gain)/loss that listed in the Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss as the recurring profit(gain)/loss □Applicable √Not applicable The Company does not have any non-recurring profit(gain)/loss listed under the Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary (non-recurring) Profit(gain)/loss defined as recurring profit(gain)/loss Section III Management Discussion and Analysis I. Main businesses of the Company in the reporting period Main business of the Company includes the wholesale and retail business, food processing and manufacturing business, leasing and commerce service business. The wholesale and retail business are mainly rice, wheat, rice in the husk, corn, sorghum, cooking oil and other varieties of grain and oil as well as the sales of fine tea, beverage and condiment. Mainly supplied wheat, rice, corn, barley, sorghum and other raw grain to customers such as the industry's large traders, feed processing and flour processing enterprises and so on; mainly sold rice, flour, cooking oil, high-quality tea, beverages and other products to demand units and community residents. During the reporting period, the international environment became more complex and severe, the conflict between Russia and Ukraine deepened and evolved, domestic pandemics had frequent outbreaks, unexpected factors exceeded expectations, the adverse impact was significantly increased, and the economic development was extremely unusual. The company continued to fight a protracted battle for pandemic prevention and control, took multiple measures to ensure the supply of goods, stabilize the supply, improve the products, strengthen the brand, deepen the market, and be a "stabilizer" for the food security of the special zone. Food processing and manufacturing business are mainly the processing the technology research in aspect of flour, rice, cooking oil, tea and natural plant extracts, beverage, condiments, prepared foods, functional foods and so forth. The company's flour brands and products include “Jinchangman”, “Yingshanhong” and “Hongli” series bread flour; “Clivia” and “Canna” series tailored flour for cakes and steamed bun; “Sunflower” special flour for noodles and dumpling skin; “Tianlvxiang” flour for civilian use and the rest; Rice products include “Shenliang Doximi”, “Guzhixiang”, “Gufengxianman”, “Runxiangliangpin”, “Panong Blue”, “Taitai Fukou”, “Duobaogufang”, “Taihexiang” and others; Cooking oil products include brands such as “Shenliang Fuxi”, “Shenliang Jinxi” , “Youtian” and others; Tea brands mainly include "Jufangyong" tea; "Yichong" fresh extract, "Jindiao" instant tea powder and other tea deep-processed products, as well as "Shenbao" chrysanthemum and lemon tea, the "Cha Mi Xiang Qi" series of tea beverages as fresh fruit tea with grains and light food; lunch of "Utopia Autumn" tea and wine continues to enrich the product mix; Condiments are mainly "Sanjing" oyster sauce and sauces and the prepared food brand "Wotian"; the functional red yeast food"Shankangyuan"; Multiple brands shapes a product series, including "Shenliang Yushuiqing" rice, noodles, oil and miscellaneous cereals series, "Jiaxi" rice and noodle series, "Jinchangman" noodle and oil series, "Black-faced Spoonbill" tea, rice, oil, drinking water, side dishes and spices series. The leasing and business service refers to providing the professional import & export trade, warehousing & storage, logistic & distribution, quality inspection & information technology services, property leasing and management, business operation management services for all kinds of clients in the upstream and downstream of the industrial chain, by using the advantage of brand reputation, operation service capacity and facility technology that accumulated in field of grain and oil market. Its Dongguan smart gain logistics complex is a comprehensive grain distribution service body integrating five major functions: grain & oil terminal, transit reserve, testing & distribution, processing & production and market trading; subsidiary Shenliang Quality Inspection was awarded as “Guangdong Shenzhen National Grain Quality Monitoring Station” and Shenliang Cold Chain provides cold chain of food storage and distribution services to the customers, subsidiary Zhenping Company create a smart supply chain management services platform for promoting the quality enhancement of "vegetable baskets" for common people. Subsidiary Shenliang Property is a professional assets management platform enterprise. II. Core Competitiveness Analysis The company enhances the endogenous power by deepening reform, strengthens the "extensive" development by innovation cooperation, and continuously upgrades and transforms the governance pattern, development quality, and guarantee ability, and has embarked on a path of sustainable and high-quality development through self- innovation, and become a highly competitive, innovative and influential "ten billion" backbone grain enterprise in the domestic grain industry. (1) Strategic guidance The company's core management team has rich experience, strong strategic vision and pragmatic spirit. The company focuses on the main business, vigorously promotes business model innovation and transformation, and actively promotes the transformation from a "trade-oriented enterprise" to a "service-oriented enterprise" and from the "operation-oriented management and control" to the "strategic management and control", and has successively put forward the strategic goals and the specific implementation paths of building "the most competitive grain circulation service enterprise in the region", "excellent service provider of grain supply chain" and "excellent service provider in the supply chain of intelligent cereals, oil and foodstuff ". The company strengthens the grain strategic service capability, integrates its strategy into the national strategy, focuses on the functional positioning of "strengthening and optimizing the main business of grain, and serving the people's livelihood", actively deploys the supply chain, and continues to independently invest in "high-quality grain source base + channel logistics nodes + regional intelligent comprehensive park + urban intelligent distribution center”, and further promotes a number of high-quality grain, oil and food projects and people's livelihood happiness projects such as Northeast Grain Source Base, Dongguan Grain Logistics Node, Intelligent Group Meals, Affordable Granary “Benefiting the People” Project, and “Tea &Rice Mutual Expectancy” Mini-type Synthesis, and effectively undertakes the important tasks of "ballast stone", "reservoir" and "regulator" for food security in the "dual-zone construction". (2) Management and operation The company actively builds a supply chain safe storage and transportation system to ensure regional food security; and actively builds a supply chain storage and transportation system to establish the operation strategy of "establishing food security firmly on supply chain security". According to the combination of dynamic and static, constant storage and constant new, and business orientation, the company improves the resource allocation of the intelligent cereals, oil and food supply chain, and strengthens the professional capabilities of "purchasing transactions, logistics allocation, warehousing rotation, and emergency response". In terms of business layout, the company deeply cultivates subdivides target markets, carries out differentiated and professional operations, and uses "Internet +" as a means to innovate and develop supply channels and transaction methods for grain and oil products, builds and improves the "three-in-one" multi-level product supply network of terminal grain and oil e- commerce, catering delivery services, and bulk grain and oil trading services. In terms of business management and control, the seamless link between "business" and "planning, funds, quality inspection, inventory, risk control, and discipline inspection" has been realized by the self-owned information management system, and a rigorous "six-in-one" management and control system to effectively has been built to reduce operating risks while fully participating in market competition, and effectively realized the "consistency of political responsibility and economic responsibility, and the unity of social benefits and economic benefits". (3) R & D technology The company attaches great importance to transforming and upgrading traditional industries with modern technological means. It actively introduces new-generation information technologies such as the Internet of Things, cloud computing, big data, and mobile Internet into grain management, forming an information system that can cover the entire industrial chain of the grain industry, so as to realize refined control of key links of grain procurement, warehousing, logistics, processing, trading, distribution, etc., and to promote the development of the "Internet + food" industry. The company's informatization construction capability is at the leading level in the domestic grain industry. It is the first in the industry to build a "standardized, mechanized, informationized, and harmless" system for warehouse management. The self-developed "grain logistics information system (Shenliang GLS)" has built a framework for the construction of grain informatization work, innovated the grain management model and led the development direction of the grain industry. The project was awarded the "National Internet of Things Major Application Demonstration Project" by the National Development and Reform Commission and the Ministry of Finance, and Experience of "Shenliang GLS" Enabling Total Quality Management Mode won the 2020 National Quality Benchmark. The company has strong research and development capabilities in the field of food and beverages, and has gathered leading technological advantages and equipment systems. Its subsidiaries, Shenbao Huacheng, Wuyuan Jufangyong, and Wuhan Jiacheng are all national high-tech enterprises. The company has undertaken a number of national research projects, presided over or participated in the preparation of a number of national standards and industry standards, and many informatization project achievements and scientific and technological achievements have won national, provincial and municipal awards. (4) Quality control The company gives full play to the advantages of products, channels, brands, warehousing, quality inspection, etc., controls product quality and safety, and provides high-quality and safe products for the society. Its subsidiary, Shenbao Huacheng, has established a quality control system recognized by large international food and beverage companies. Its subsidiary, Shenliang Quality Inspection, has the leading grain and oil quality inspection technology and equipment in the domestic grain industry, it has been incorporated into the national grain quality supervision and inspection system, and was awarded the "Guangdong Shenzhen National Grain Quality Monitoring Station" by the State Grain Administration, and obtained the Assessment Certificate (CATL) of the Quality and Safety Testing Agency of Agricultural Products and the Certificate of Qualification (CMA) of the Inspection and Testing Agency, etc., possessing with a number of certified testing capabilities. Shenliang Quality Inspection includes pesticide residues, heavy metal pollutants, mycotoxins and other health indicators and food taste indicators in the daily inspection indicators, and has the ability to test four types of indicators such as grain conventional quality, storage quality, grain safety and edible quality, which can meet the relevant quality inspection needs of grain and oil products, and can accurately analyze the nutrient content and health indicators of grains and determine its storage quality and edible quality. It has built a "digital laboratory" in the grain industry to monitor the entire process of sampling, testing, and distribution in real time, and cooperates with collaborative platforms to save, retrieve, integrate, analyze, and share grain and oil testing data to achieve 100% inspection coverage of grain and oil products. (5) Incentive mechanism The company focuses on the strategy of "strengthening the enterprise with talents", innovatively implements EVA assessment, and stimulates the internal driving force of enterprise development. It continues to innovate the talent training mechanism and build a high-quality talent supply chain, and has established an open talent echelon that meets the needs of the long-term development of the enterprise so as to reserve intelligence for the upgrading and development of the enterprise; it establishes result-oriented incentives and constraints appraisal system through the innovative implementation of the EVA performance appraisal mechanism, advocates employees to create value for shareholders, advocates the company to share value with employees, fully reflects the principle of prioritizing the interests of shareholders, favorably promotes the rational allocation of corporate resources, and effectively establishes a performance culture and stimulates the vitality of the company. The company is the first pilot enterprise in the state-owned assets system to implement the full coverage of the EVA assessment, so as to explore the replicable experience of establishing a share and incentive mechanism that is compatible with the labor market and linked to the economic benefits of the enterprise. The company insists on cultivating and advocating a corporate culture with the core values of "people oriented, performance first, quality first, and harmony first", and combines the personal development goals of employees with the corporate vision to enhance the cohesiveness of the company. III. Main business analysis th 2022 is the key period of the "14 Five-Year Plan". The company adheres to the general principle of seeking progress while maintaining stability, actively serves and integrates into the new development pattern of grain security, strengthens the coordinated guarantee of the whole chain of production, purchase, storage, processing and sales, and insists on laying equal stress on quantity and quality, and thoroughly implements high-quality grain projects to strengthen, optimize and expand the industrial chain. During the reporting period, Dongguan Logistics Industrial Park project of the company was put into use, the company's transit business volume increased steadily, the rise in prices of high value-added services and bulk trade and the increase in the gross profit margin of grain and oil trade led to an increase in the company's overall efficiency. As of June 30, 2022, the company's total assets were 7.633 billion yuan, of which the net assets attributable to shareholders of the listed company were 4.58 billion yuan; the cumulative operating revenue was 4.338 billion yuan, achieving total profit of 241 million yuan, the net profit attributable to shareholders of the listed company was 238 million yuan, the weighted average return on equity was 5.00%, and the basic earnings per share was 0.2061 yuan per share. During the reporting period, the company based on its own advantages and industrial development, used information technology, innovated and opened up the grain and oil products supply channels and trading methods, created a new pattern for tea and food business industry, built a multi-group and multi-channel food supply chain and service network, expanded the effective supply of medium- and high-end grain, oil, and food, and aims to meet people's needs of "quality, diversity, nutrition, health, green, and convenience", and promoted the transformation of grain and oil products from "eat full" to "eat well". The company continues to focus on grain circulation services, and completes grain and oil supply services with quality and quantity by actively building supply chains, continuously extending the industrial chains, innovating business models, and upgrading the industrial value chains, the development of the main grain and oil business continues to improve. (1) Focus on reform and innovation, and consolidate the support of modern governance capabilities The company has completed the three-year action tasks of state-owned enterprise reform, the key tasks and measures of the "Double Hundred Action", and the key task of benchmarking the world-class management improvement action, and provided the national food and agriculture industry and the state-owned assets and state-owned enterprises with a replicable and popularized "Shenliang Model". The company has carried out a number of informatization construction projects to accelerate the digital transformation of the company's entire chain. It has strictly performed information disclosure obligations, and continued to receive the highest rating of "A" in the Shenzhen Stock Exchange's 2021 annual information disclosure assessment for companies listed on the main board. It continues to strengthen organizational management and form a modern governance system with complete system, scientific standardization and efficient operation. (2) Focus on key projects and make breakthroughs to drive all-round development The company's Northeast Grain Source Base has further strengthened the "production, purchase, storage, processing and sales" chain of cereal and oil food, and Hongxinglong warehouse has adjusted the varieties of unprocessed grain reserves; the rice production line has been officially put into production; new methods such as containerized railway-sea or truck-sea combined transportation are adopted to reduce cereal loss, reduce transportation time, and open up the channel of "north grain transported to the south". The company's Dongguan grain logistics node construction and operation goes well, the Shenliang Logistics Building is officially opened, the A1 flat warehouse project has completed the construction of the main body and the supporting projects and is about to be put into production, and the A2 and A3 plots have obtained the construction project planning permit and accelerated the construction. It successfully obtained the port operating permit for berths No. 1 and No.2, and has started the construction of berth No.3; the port handling capacity reached a new high in the first half of the year. (3) Focus on brand building, enable operations to improve quality and efficiency The company firmly promotes brand development, continuously improves the excellent brand matrix, continuously improves the quality and scale of food supply, strengthens the core competitiveness, innovation and output capabilities of the brand, serves the common people with more high-quality grain and oil products with preferential prices, and sets an example in cereals, oils and foodstuff to create a benchmark for people's livelihood and happiness. A total of 12 products from three subsidiaries of the company, i.e. Shenzhen Flour, Shenliang Food, and Shenliang Oils and Fats, were selected into the ninth batch of "Shenzhen Products"; Shenbao Huacheng, a th subsidiary of the company, was awarded the 12 "Shenzhen Time-honored Brand". (4) Focus on regional grain security, strengthen and standardize grain and oil management The company is determined to be a "stabilizer" for grain security in Shenzhen Special Economic Zone, regularly inspects and verifies the quantity and quality of grain and oil in stock at each warehouse, and provides reserve services with high quality and quantity; builds a green and smart grain depot, and follows the full-process inspection of warehousing, inventory and ex-warehouse. During the pandemic in Shenzhen, the company's grain depots implemented closed management, and the "three-in-one" logistics model, automated warehouses, digital laboratories and other emergency supply guarantees were operated in real time, which built the "first line of defense" for emergency guarantee of grain supply. (5) Focus on risk prevention and control, and firmly guard the bottom line and red line of safety The company has firmly built a five-in-one "big risk control" management mechanism of "internal control evaluation + safety production + audit + legal affairs + quality safety", and promoted full coverage of independent evaluation and risk assessment of subsidiaries; strengthened the cost control of the whole process of engineering projects; improved capital management system, built a unified supervision platform for funds, and improved the long-term supervision mechanism for fund security check. Y-o-y changes of main financial data Unit: CNY/RMB
No major changes on profit composition or profit resources occurred in reporting period Constitute of operating revenue Unit: CNY/RMB
√ Applicable □Not applicable Unit: CNY/RMB
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