2016-04-28-深交所-张_裕Ｂ_2015年年度报告（英文版）_180页_808kb
报告摘要
Yantai Changyu Pioneer Wine Co. Ltd. 2015 Annual Report Summary
Core Content Overview
This document is the 2015 Annual Report of Yantai Changyu Pioneer Wine Co. Ltd., a Chinese wine and brandy production company listed on the Shenzhen Stock Exchange. The report includes important notices, company information, financial performance, business operations, and governance details. It highlights the company's financial results, strategic focus, and the challenges it faced in the wine industry during the year.
Main Financial Indicators (2015 vs. 2014)
| Item | 2015 (CNY) | 2014 (CNY) | Year-on-Year Change (%) |
|---|---|---|---|
| Business Revenue | 4,649,722,368.00 | 4,156,727,525.00 | 11.86% |
| Net Profit (Shareholders) | 1,030,073,860.00 | 977,707,711.00 | 5.36% |
| Net Profit (after irregular profit and loss) | 993,268,823.00 | 950,191,379.00 | 4.53% |
| Net Cash Flows from Operating Activities | 1,143,046,367.00 | 1,070,083,296.00 | 6.82% |
| Basic Earnings Per Share | 1.50 | 1.43 | 4.90% |
| Diluted Earnings Per Share | 1.50 | 1.43 | 4.90% |
| Weighted Average Return on Net Assets | 14.40% | 13.96% | 0.44% |
| Total Assets | 10,344,211,461.00 | 8,912,232,640.00 | 16.07% |
| Net Assets (Shareholders) | 7,564,099,003.00 | 6,840,452,145.00 | 10.58% |
Key Financial Analysis by Quarter
| Item | 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | Year-on-Year Change (%) |
|---|---|---|---|---|---|
| Business Revenue | 1,825,212,207.00 | 1,000,581,043.00 | 860,434,812.00 | 963,494,306.00 | - |
| Net Profit (Shareholders) | 530,248,397.00 | 215,811,851.00 | 136,798,209.00 | 147,417,173.00 | - |
| Net Profit (after irregular profit and loss) | 526,745,613.00 | 212,686,390.00 | 133,641,945.00 | 120,396,645.00 | - |
| Net Cash Flows from Operating Activities | 697,396,327.00 | 229,766,733.00 | 292,071,264.00 | -76,187,957.00 | - |
Company Information
- Full Name (Chinese): 烟台张裕葡萄酿酒股份有限公司
- Abbreviation: 张裕
- English Name: YANTAI CHANGYU PIONEER WINE COMPANY LIMITED
- Abbreviation (English): CHANGYU
- Legal Representative: Mr. Sun Liqiang
- Registered Address: 56 Dama Road, Yantai, Shandong, China
- Postal Code: 264000
- Website: http://www.changyu.com.cn
- Email: webmaster@changyu.com.cn
Shareholder and Management Information
- Share Abbreviations: Changyu A, Changyu B
- Share Codes: 000869, 200869
- Board of Directors: All directors personally attended the meeting for deliberating the annual report.
- Key Officers:
- Chairman: Mr. Sun Liqiang
- CFO: Mr. Leng Bin
- Financial Director: Mr. Jiang Jianxun
Business Overview
- Main Businesses: Production and operation of wine and brandy.
- Market Position: Dominant position in the domestic wine market.
- Core Competitiveness:
- Strong and well-known brand names: "Changyu", "Jiebaina", and "AFIP".
- Nationwide marketing network and "three-level" system.
- Strong R&D capabilities and a "State-level Wine R&D Center".
- Extensive grape-growing bases in Shandong, Ningxia, Xinjiang, Liaoning, Hebei, and Shanxi.
- Diverse product range: over 100 types of wine and brandy.
Financial Highlights and Challenges
- Business Revenue Growth: Increased by 11.86% to CNY 4.65 billion.
- Net Profit Growth: Increased by 5.36% to CNY 1.03 billion.
- Market Challenges:
- Domestic economic slowdown.
- Intensified market competition.
- Overwhelming foreign wine imports.
- Strategic Adjustments:
- Focus on medium and low-level products.
- Optimization of marketing channels.
- Cost control through improved production and procurement methods.
Irregular Profit and Loss
- Total Irregular Profit and Loss (2015): CNY 36,805,037.00
- Items:
- Gain on disposal of non-current assets: CNY 136,061.00
- Government grants: CNY 38,952,919.00
- Other non-operating income and expenses: CNY 9,071,448.00
- Tax Effect: CNY 11,355,391.00
- Explanation: No irregular profit and loss was defined as recurrent in 2015.
Key Accounting and Financial Notes
- No retroactive adjustments or restatements of previous year's accounting data.
- No differences in net profit and net assets between PRC and international accounting standards.
- No changes in consolidation scope.
- No major changes in products or services during the report period.
Conclusion
Yantai Changyu Pioneer Wine Co. Ltd. demonstrated resilience in 2015, achieving a 11.86% increase in business revenue and a 5.36% rise in net profit. The company maintained its dominant position in the domestic wine market, despite the challenges posed by economic slowdown and increased competition. Its strong brand reputation, extensive grape-growing bases, and strategic focus on medium and low-level products contributed to its growth. The report also emphasizes the importance of continuous improvement in production, marketing, and R&D to sustain long-term competitiveness.
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