[年报]张 裕Ｂ(200869):2022年年度报告（英文版）
原标题:张 裕Ｂ:2022年年度报告（英文版） YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport Contents I、ImportantNotice,ContentsandDefinition...............................................................................3 II、BriefIntroductionfortheCompanyandMainFinancialIndicators ..................................6III ManagementDiscussionandAnalysis ................................................................................11 、 IV、CorporateGovernance ..........................................................................................................34 V、EnvironmentalandSocialResponsibility .............................................................................43 VI、Majorissues ...........................................................................................................................61 VII、ChangesinSharesandShareholders’Situation ...............................................................70 VIII RelatedSituationofPreferredShares ..............................................................................79 、 IX、RelatedSituationofBonds ...................................................................................................79 X、FinancialReport ......................................................................................................................79 YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
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.2022AnnualReport ReferenceDocuments (1)TheoriginalofAnnualReportautographedbytheChairman. (2)The FinancialStatementsautographed andsigned bytheChairman,ChiefAccountant andAccountantincharge. (3)TheProspectusandPublicOfferingAnnouncementforStockBissuedin1997;TheProspectusofIntentandTheShares’Change&AShare’sPublicOfferingAnnouncementforStockAissuedbythecapitalincreasein2000. (4)TheoriginalsofalldocumentsandannouncementsthattheCompanymadepublicduringthereportperiodinthenewspapersdesignatedbyChinaSecuritiesRegulatoryCommission.YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
TheaccountingfirmappointedbytheCompany
□Available ?Notavailable ThefinancialadviserappointedbytheCompanytoperformthedutyofcontinuoussupervisionduringthereportperiod □Available ?Notavailable YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
□Yes ?No Thelowerofthenetprofitsbeforenon-recurringgainsandlossesandafternon-recurringgainsandlossesisnegative □Yes ?No 7.Differences in accounting data under PRC accounting standards and internationalaccountingstandards YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
□Yes ?No 9.Itemandamountofnon-recurringprofitandloss ?Available □Notavailable Unit：CNY
YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
□Available ?Notavailable Theredoesnotexistspecificsituationofotherprofitandlossitemsconformingtothedefinitionofnon-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.2022AnnualReport III.ManagementDiscussionandAnalysis 1.SituationofindustryinwhichtheCompanyoperatesduringthereportperiodIn2022,thedomesticwinemarketcontinuedtodeclineduetotheimpactofthepressurefromotherliquorssuchasBaijiuandbeers.Thesalesvolumeofimportedwineanddomesticwinecontinuedthetrendof“doubledecline”,andtherisingcostsofrawmaterialandpackagingfurtherdraggeddowntheprofitabilityofenterprises.Thevastmajorityofwineenterpriseswereindifficulty,andthedomesticwineindustrywasstillontheedgeofloss. Inthefaceofdifficultiesandchallenges,theCompanypersistedintakingthemarketasthecenter,adheredtothedevelopmentstrategyof“Focusonmiddle-and-highlevel,Focusonhighquality,Focus onlargesingleproduct”andthemarketingphilosophyof“obtaininggrowthfromtheterminalandnurturingconsumers”,tookmarket-orientedactiontoacceleratethepaceofbusinessdivisionreform,activelycarryoutcirclemarketingandcontinuetopromotedigitaltransformation.In2022,theCompanyrealizedtheoperatingrevenueofCNY3918.94millionwithayear-on-yeardecrease of 0.86% and the net profit attributable to the parent company’s shareholders ofCNY428.68millionwithayear-on-yeardecreaseof14.28%,maintainingtheleadingroleintheindustry. 2.Mainbusinessesduringthereportperiod TheCompanyneedtocomplywiththedisclosurerequirementsofFoodandLiquorManufacturingRelatedBusinessesinShenzhenStockExchangeIndustryInformationDisclosureGuidelineNo.3-IndustryInformationDisclosure. (1)SituationoftheindustryinwhichtheCompanyoperates Duringthereportperiod,theCompany’smainbusinesswasproductionandoperationofwineandbrandy, thus providing domestic and foreign consumers with healthy and fashionablealcoholicdrinks.Comparedwithearlierstage,therewerenosignificantchangeshappenedtotheCompany’smainbusiness.ThewineindustrythattheCompanyinvolvedinwasstillingrowthstage.Beingaffectedbymanyfactorsincludingslowingdomesticeconomicgrowthandstrongpressurefromalternativesinrecentyears,thecompetitioninthemarketwasfierce,thewineconsumptioncontinuouslydeclined,andalargenumberofwineproductionenterpriseswereonthebrinkofloss,evensomewineenterpriseswereeliminatedfromthemarket.However,seenfromthelongterm,theexistingconsumptionconceptmightchangewiththeincreaseofpeople’sincomelevelandtheirpursuitofarelaxed,romanticandhealthylifestyle.Moredomesticwinewouldbedrunkbypeople,andwinewouldentermoreandmorehouseholdconsumption.Thesituationofcurrentlowaverageconsumptionofdomesticwinewouldgraduallyimprove.TheCompanywasatthe forefront in the domestic wine market and was significantly ahead of major domesticcompetitors. YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
Duringthereportperiod,theredidnotexistthetrademarkownershipdispute,foodqualityissueorfoodsafetyincidentetc.thathadasignificantimpactontheCompany.Majorsalesmode TheCompany’smainsalesmodewasthedistributionmode,andmainsaleschannelwasofflinesales,thatis,theCompany’sproductsweredistributedtosalesterminalsthroughapproximately4,000distributorsathomeandabroadandultimatelyprovidedtoconsumers.YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
Theratioofsalesinself-ownedexclusiveshopexceeds10% □Available ?Notavailable Salesofonlinedirectselling ?Available □Notavailable
YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
□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 ComparedwiththeparticipantsinthearenaoftheChinesewinecompetitionsector,theCompanyownsfollowingadvantages: Firstly,theCompanyhasalargebrandinfluence.Mainbrandsusedhavealonghistory.“Changyu”,“NobleDragon”and“AFIP”areall“Chinafamousbrands”thathavestronginfluenceandgoodreputation. YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport Secondly,theCompanyhassetupanationwidemarketingnetwork.TheCompanyhasformeda“three-level” marketing network system mainly composed of the Company’s salesmen anddistributorsandtheonlinesalesplatformhashadacertainscaleandstronginfluence,owingstrongmarketingabilityandmarketexploitationability. Thirdly,theCompanyhasstrongscientificprowessandaproductR&Dsystem.Relyingonthecountry’s“State-levelWineR&DCenter”,theCompanyhasownedpowerfulwinemakerteam,mastered advanced winemaking technology and production processes and had strong productinnovationcapacityandperfectqualitycontrolsystem. Fourthly,theCompanyisinpossessionofalotofgrape-growingbasesthatarecompatiblewithitsdevelopmentrequirements.TheCompanyhasdevelopedagreatdealofvineyardsinthemostsuitableareasforwinegrapegrowingsuchasShandong,Ningxia,XinjiangandLiaoning,anditssubsidiaryoverseasenterprisesalsoownmatchinggrapebasesinlocalarea,makingtheoverallscaleandstructuregenerallymeettheCompany’sneedsforfuturedevelopment.Fifthly,productsinhigh,mediumandlow-gradeaswellasvarietiesandcategoriesareallcomplete.Over100varietiesofseriesproductssuchaswine,brandyandsparklingwinecoversvariousgrades,includinghigh,mediumandlow-grade,whichcanmeetdifferentconsumergroups’demands.TheCompany has taken the dominant status in the domestic wine industry after many years’developmentandhascomparativeadvantagesinthefuturecompetition.Sixthly,theCompanyhasarelativelyperfectmotivationsystem.MostofCompany’semployeesindirectlyholdtheCompany’sequitythroughcontrollingshareholders.Therearehighconsistencybetweenemployeebenefitsandshareholdersbenefits,infavorofmotivatingemployeestocreatevalueforshareholders. Seventhly, the Company has set up flexible and efficient decision-making mechanism. TheCompany’scoremanagementteamalwaysmaintainsaworkingstyleofunityandpragmaticandflexibleandefficientdecision-makingmechanism,whichmakestheCompanycandealwithmarketchangesmorecalmly. Eighthly,theglobalproductioncapacitylayouthasbeenbasicallycompleted.TheCompanyhascompletedproductioncapacitylayoutinChina,France,Chile,Spain,Australiaandothermajorwineproducingcountriesintheworld,enablingmakingbetteruseofglobalhigh-qualityrawmaterialresources,capital,talentsandadvancedproductionprocessesandtechnologiestoprovideconsumerswithdiversifiedqualityproductsandbetterserveconsumers.Basedontheabovereasons,theCompanyhasformedrelativelystrongcorecompetenceandwillmaintainarelativelydominantpositioninthefuturepredictablemarketcompetition.4.Analysisinmainbusiness (1)Summarization YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
Duringthereportperiod,theneedsinthedomesticwineindustrywasstillsmallandthemarketcompetitionwasveryintense.ThisCompanyrealizedtheoperatingrevenueofCNY3918.94millionwithadecreaseof0.86%comparedwithlastyear,lowingthanthetargetfixedatthebeginningoftheyearofrealizingoperatingrevenuenolessthanCNY4.3billion,andrealizedthenetprofitattributabletotheparentcompany’sshareholdersofCNY428.68millionwithadecreaseof14.28%comparedwithlastyear.Themainworksduringthereportperiodwereshownasfollowed:Firstly, the Company accelerated the construction of business division system and improvedmarketingmeasures.TheLongyuBusinessDivisionstrengtheneditsorganizationalconstruction,developedandlaunchedLongseriesproducts,resetthepricesystem,focusedoncertainmarketingmethods,andpersistedindevelopinggroupbuyersandconsumerstodirectlyreachtheC-end.TheChateau WineBusiness Divisionincreasedthemarketingefforts,reorganized thebrands andproductsofeachchateau,developedthemaster-co-signedAFIPJiangyaYunhaigiftboxandtheCastelHuakaiFuguiproductandsoon,andformulatedandpromotedtheoveralllayoutplanning.TheNobleDragonBusinessDivisionimplementedcityclassificationmanagement,strengthenedproductdeliverycontrol,vigorouslypromotedbanquetpromotion,andformulateddistributorfilemanagement measures, improving the market environment and distributor confidence. TheYantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport ImportedWineBusinessDivisionfocusedonsomebrands,furtheroptimizedtheproductstructure,setupclassifiedcities,andlaunchednewproductssuchasKilikanoonCrownandIWCCAoma,which promotedthegood developmentofthemarketbrands. TheBrandyBusiness Divisioninsistedonhigh-endfocus,marketfocusandmarketingactionfocus,constantlyimprovedthedistributor system, accelerated the layout of Koya distributors, continued to summarize andpromotethesuccessfulmarketingcasesofKoya,steadilypromotedtheconstructionofKoyaXOCulturalExperienceMuseum,developedandlaunched43°MasterversionofKoyaMen-40products,Koya12-years,Koya20-yearsandKoya1915PanamaMemorialproducts.TheOnlineBusinessDivisionincreasedthesalesproportionofmiddle-and-high-endproducts,rankedfirstamongfivee-commerceplatformssuchasT-mall,Jingdong,Pinduoduo,DouyinandKuaishouduringtheperiodofDoubleEleven.TheTourismDivisionassistedinthecompletionofthemuseumupgradingproject,activelypromotedthestrategiccooperationwithwell-knownculturalandtourismgroupcompanyinChina,andfurtherreducedthenumberofmanagementpersonneloftourismunitsinallopatricplaces. Secondly,theCompanystrengthenedthequalitydetailsmanagementandconstantlyimprovedproduct quality. The Company fully implemented the “Provisions on the Supervision andManagementofEnterprises’ImplementationofFoodSafetySubjectResponsibility”,andfurtherimprovedthequalityandsafetymanagementstructure.TheCompanyobtained3newnationalinventionpatentsand1utilitymodelpatent.Twoscientificandtechnologicalachievements,suchas “Research on Flavor and Style Characteristics of Chinese Brandy”, were identified as“internationalleadinglevel”byChinaNationalLightIndustryCouncil.Theprojectof“ResearchonKeyCommonIndexesofHighQualityBrandyFlavorandItsApplicationinNationalStandardsandIndustrialization”waslistedinthescienceandtechnologyinnovationprojectsofShandongProvince. The project “Research and Industrialization Application in Key Brewing andWine-makingTechnologyofChineseCharacteristic‘CabernetGernischt’GrapeStrain”wonthefirst prize of Science and Technology Progress of China Alcoholic Drinks Association. TheCompanyparticipatedin20internationalanddomesticwineandspiritscompetitions,andwon25grandgoldawardsand75goldawards,whichweresignificantlyhigherthanthatin2021.Thirdly,theCompanyorderlyimplementedseriesofactivitiesforthe130thanniversary,enhancingthe brand influence. The Company systematically organized activities related to China WineCultureMonthandthe130thanniversary,includingtheunveilingceremonyof“ChinaWineTimeArtExhibition”,theopeningofChinaWineTechnologyandQualityDevelopmentConference&China Alcoholic Drinks Association’s 2022 Annual Meeting of National Wine EvaluationCommittee,thereopeningoftherevitalizedandupgradedWineCultureMuseum,theCCTV“ChineseTypicalSceneryandObjectsCollection”intoChangyu,thefirstVineyardconcertinChina especially for the 130th anniversary of Changyu, and staff photography/painting/essaycontest. Moreover, it actively took participation in the creation of the large-scale urbandevelopmentconvergencemediaprogram“CentralCityofYoung-TipsyYantai·SharingNight”co-sponsoredbyYangshipinofCentralRadioandTelevisionStationandYantaiCity,inwhichtheCompanyimplantedChangyucontentsinmultipleaspectsandfurtherenhancedtheinfluenceofcentury-oldChangyubrand. YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
YantaiChangyuPioneerWineCo.,Ltd.2022AnnualReport
Company’soperatingrevenueoroperatingprofit ?Available □Notavailable Unit:CNY
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