Financial Performance - For the reporting period, the company achieved a main business revenue of RMB 246.1358 million, with overseas revenue accounting for 73.33% at RMB 180.5025 million[12]. - The company's operating revenue for the current period is ¥247,285,485.35, representing a 16.74% increase compared to ¥211,830,100.79 in the same period last year[26]. - The net profit attributable to shareholders of the listed company is ¥18,469,732.71, which is a 23.22% increase from ¥14,989,341.85 in the previous year[26]. - The company's main business revenue reached 246.14 million yuan, an increase of 16.36% year-on-year, with a net profit attributable to shareholders of 18.47 million yuan, up 23.22% year-on-year[37]. - The company's gross profit margin has decreased to 14.63% from 17.32% in the previous year[26]. - The company has achieved a net profit growth rate of 21.92%, compared to a decline of 21.06% in the previous year[29]. - The company's total assets at the end of the current period amount to ¥511,813,822.58, reflecting a 25.16% growth from ¥408,922,379.26 at the end of the previous year[27]. - The company's cash flow from operating activities has increased by 74.07%, reaching ¥32,102,671.20 compared to ¥18,442,430.19 in the same period last year[28]. - The company's total liabilities increased to ¥130,395,364.17 in the first half of 2022, up from ¥109,852,975.96 in the first half of 2021[141]. - The total equity attributable to shareholders rose to ¥395,085,781.50, up from ¥300,051,378.36, which is an increase of around 31.7%[137]. Share Issuance and Capital Structure - The company completed a public offering of 13.0434 million shares, raising a net amount of RMB 81.2111 million after deducting issuance costs[5]. - The total number of ordinary shares increased from 90,633,000 to 103,676,400, representing a change of 13,043,400 shares during the reporting period[99]. - The company raised a total of 93,912,480.00 yuan by issuing 13,043,400 shares at a price of 7.20 yuan per share[113]. - The net amount of raised funds after deducting issuance costs was 81,211,060.83 yuan[113]. - The company plans to use the raised funds for a 30,000-ton pet food project and operational support center[111]. - The shareholding of the top ten shareholders collectively accounts for 52.70% of the total shares[103]. - The controlling shareholder, Shandong Shouguang Tiancheng Food Group Co., Ltd., holds 36.56% of the shares after a decrease from 41.62%[100]. Dividend Distribution - The company distributed a cash dividend of RMB 0.5 per 10 shares to shareholders, with the record date set for June 8, 2022[5]. - The total amount of cash dividends distributed was 0.50 yuan per 10 shares[118]. - The company distributed dividends and interest payments totaling 5,197,570.00 during the period[153]. Research and Development - The company obtained multiple patents during the reporting period, including 1 design patent and 6 utility model patents for the parent company, and 8 utility model patents for its subsidiary[6]. - The company emphasizes continuous technology research and development, focusing on product quality improvement and cost reduction[35]. - Research and development expenses increased to CNY 8,471,241.98, up 23.63% from CNY 6,851,887.51[50]. Market and Customer Dependency - The company relies heavily on its top five customers, which accounted for 41.55% of its main business revenue, indicating a significant dependency risk[12]. - The company faces risks related to the OEM business model, as a decline in demand from foreign clients could adversely affect sales revenue[12]. - The company is actively expanding into emerging markets such as Southeast Asia and Latin America to reduce customer dependency risks[70]. - The company primarily exports its products, with key markets including Germany, the United States, and Japan, while also expanding its domestic sales through online and offline channels[35]. Risk Management - The company faces risks from raw material price fluctuations, particularly for meat products, and is implementing cost control measures to mitigate these risks[71]. - The company is exposed to exchange rate fluctuations as its main business revenue is primarily from foreign customers, and it is adopting multiple currencies for settlements to manage this risk[71]. - The company has established a comprehensive environmental protection strategy, ensuring compliance with relevant laws and regulations while managing waste and emissions effectively[68]. Governance and Compliance - The actual controller, Tiancheng Group, holds 36.56% of the company's shares, which poses a risk of influencing major decisions such as development strategy and profit distribution[72]. - The company has established a governance structure to mitigate risks associated with the actual controller's influence, including adherence to various internal regulations[72]. - There were no significant litigation or arbitration matters during the reporting period[75]. - The company has made commitments to avoid related party transactions and ensure fair pricing in any necessary transactions[93]. Employee and Management Structure - The company has a total of 1,860 employees at the end of the reporting period, an increase of 146 employees from the beginning of the period[129]. - The board of directors consists of 7 members, while the supervisory board has 3 members, and there are 6 senior management personnel[120]. - The total shareholding of directors, supervisors, and senior management is 9,543,775 shares, representing 9.20% of the total shares[123]. - The company appointed Zhao Fei as an independent director during the reporting period, replacing Chen Jie who resigned for personal reasons[125]. Financial Position and Assets - The company's total assets grew to ¥511,813,822.58 from ¥408,922,379.26, marking an increase of approximately 25.1%[137]. - Cash and cash equivalents increased by 56.00 million yuan, a rise of 118.86% year-on-year, mainly due to the public issuance of shares raising 83.96 million yuan[45]. - The company's inventory decreased by 2.51% year-on-year, amounting to 935.51 million yuan[43]. - The total equity attributable to shareholders increased by 95,605,588.20 during the period, with a total equity of 408,183,117.46 at the end of the period[155]. Future Outlook - The global pet food market is expected to reach 115 billion USD by 2024, with an average annual growth rate of 5.5% over the past decade[40]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[162].

Financial Performance - Revenue for the first quarter of 2022 reached CNY 117,945,816.54, a growth of 33.64% from CNY 88,258,948.09 in the same period last year[18] - Net profit attributable to shareholders decreased by 25.67% to CNY 5,052,333.19 from CNY 6,797,616.51 year-on-year[15] - The gross profit margin slightly declined, leading to a 35.07% decrease in operating profit to CNY 5,600,571.32 from CNY 8,625,369.85[18] - Total operating revenue for Q1 2022 reached ¥108,311,880.89, an increase from ¥87,878,836.84 in Q1 2021, representing a growth of approximately 23.5%[54] - Net profit for Q1 2022 was ¥4,873,965.70, down from ¥6,533,673.80 in Q1 2021, indicating a decline of about 25.4%[52] - The company reported a total profit of ¥5,611,048.62 in Q1 2022, down from ¥8,668,600.76 in Q1 2021, a decrease of approximately 35.5%[51] Cash Flow - The company's cash flow from operating activities fell by 51.80% to CNY 10,023,304.40 compared to CNY 20,797,068.07 in the previous year[15] - Operating cash flow decreased by 51.80% to ¥10,023,304.40 due to increased cash payments for material purchases[20] - Cash inflow from operating activities in Q1 2022 was ¥134,462,493.08, compared to ¥121,196,252.93 in Q1 2021, an increase of approximately 10.9%[57] - Net cash flow from operating activities for Q1 2022 was ¥11,362,385.79, an increase of 68.9% compared to ¥6,725,844.37 in Q1 2021[62] - Total cash inflow from financing activities reached ¥84,939,080.00, with cash received from investment absorption amounting to ¥82,191,060.83[59] - The net increase in cash and cash equivalents for the period was ¥75,756,697.64, compared to a smaller increase of ¥9,535,134.80 in the previous year[59] Assets and Liabilities - Total assets increased by 21.76% to CNY 497,901,534.01 compared to CNY 408,922,379.26 at the end of the previous year[15] - Total liabilities rose to CNY 98,094,656.22, compared to CNY 96,344,850.00, indicating a slight increase of 1.8%[44] - Shareholders' equity increased to CNY 399,806,877.79, up from CNY 312,577,529.26, representing a growth of 27.9%[44] - The company's accounts receivable decreased slightly from 39.03 million yuan at the end of 2021 to 38.09 million yuan by March 31, 2022[42] - The company's inventory decreased from 95.96 million yuan at the end of 2021 to 92.65 million yuan by March 31, 2022, indicating a reduction of 3.43%[42] Expenses - Sales expenses surged by 91.29% to CNY 3,252,643.61, driven by increased sales personnel compensation and marketing costs[18] - The company reported a 39.39% increase in operating costs, totaling CNY 99,711,265.28, primarily due to rising labor costs and increased sales volume[18] - Operating costs for Q1 2022 totaled ¥112,869,228.50, compared to ¥80,038,964.14 in Q1 2021, reflecting an increase of approximately 41.1%[51] - Research and development expenses in Q1 2022 were ¥3,633,168.41, up from ¥3,084,071.89 in Q1 2021, marking an increase of about 17.8%[51] Shareholder Information - The total number of ordinary shares increased from 90,633,000 to 103,676,400, with a significant increase in unrestricted shares from 35.89% to 41.44%[24] - The largest shareholder, Tiancheng Group, holds 36.39% of shares, while the second-largest, Junyuan Investment, holds 5.59%[25] - The number of shareholders holding more than 5% of shares includes Tiancheng Group and Guo Baili, with Guo holding 4.65%[26] - The company has a total of 24,426 ordinary shareholders at the end of the reporting period[24] Financial Stability - The company's debt-to-asset ratio decreased to 19.70% from 23.56% in the previous year, indicating improved financial stability[15] - The effective tax rate was reduced to 15% due to the company's qualification as a high-tech enterprise, resulting in a 65.48% decrease in income tax expenses[19] - The company has no significant external guarantees or loans during the reporting period, indicating a strong financial position[30] - The company has committed to reducing related party transactions to protect shareholder interests, as stated in its 2015 commitment[35] - The company has no ongoing litigation or arbitration matters during the reporting period, ensuring compliance and stability[30] Investment Activities - Investment cash flow increased by 58.28% to -¥18,851,127.75 primarily due to new project construction expenditures[20] - The company is actively pursuing new projects and investments, as indicated by the increase in investment cash flow[20] - The company successfully issued 4,833,000 shares, raising a total of 16.92 million yuan, with 79 participants in the stock incentive plan[34]

Financial Performance - The company reported a total revenue of RMB 457.91 million for the reporting period, with overseas revenue accounting for RMB 382.05 million, representing 83.43% of total revenue[13]. - The company's operating revenue for 2021 was CNY 458,883,392.31, representing an increase of 8.25% compared to CNY 423,913,923.54 in 2020[31]. - The company achieved a total revenue of 457.91 million yuan, an increase of 8.11% year-on-year, with overseas revenue at 382.05 million yuan, up 7.56%[49]. - The net profit attributable to shareholders for 2021 was CNY 30,387,839.76, a decrease of 21.61% from CNY 38,766,626.00 in 2020[31]. - The company's net profit attributable to shareholders was 30.39 million yuan, a decrease of 21.61% compared to the previous year, with basic earnings per share dropping from 0.45 yuan to 0.35 yuan[50]. - The gross margin for overseas sales decreased by 4.59 percentage points to 17.38% due to high shipping costs and economic impacts from the COVID-19 pandemic[49]. - The gross profit margin decreased to 16.52%, down from 21.49% in the previous year[60]. - The company experienced a net profit growth rate of -22.85% in 2021 compared to a growth rate of 31.35% in 2020[36]. - Operating profit decreased by CNY 14.11 million, a decline of 29.81% year-on-year, while net profit decreased by CNY 9.03 million, down 22.85% year-on-year, primarily due to a 4.97 percentage point drop in gross margin to 16.52%[62]. Shareholder Information - The company distributed a cash dividend of RMB 0.5 per 10 shares to shareholders, with the record date set for July 8, 2021[6]. - The company issued 13,043,400 shares, increasing the total share capital to 103,676,400 shares following the public offering approved on January 27, 2022[24]. - The total number of shares held by directors and senior management is 9,364,000, representing 10.33% of the total shares[174]. - The company has a total of 144 R&D personnel, accounting for 8.74% of the total workforce, an increase from 8.40% in the previous year[92]. - The company has a total of 1,450,000 unexercised stock options for senior management, with an exercise price of 9.33 yuan per share[178]. Market and Product Development - The company plans to expand its market presence and product offerings, focusing on the development of new pet food products[21]. - The company plans to expand its business scope to include feed production and pet food retail, pending approval from the shareholders' meeting[25]. - The company is actively exploring and gradually laying out the staple food market, expanding its product range beyond pet snacks[115]. - The company is focused on developing new pet food products, including shark bone series and egg yolk series snacks[94]. - The company actively developed new products to meet changing market demands, resulting in positive domestic sales performance despite increased competition[49]. Research and Development - The company has established a robust R&D system, emphasizing technological innovation to enhance product quality and reduce production costs[47]. - Research and development expenses amounted to 15,187,197.37 yuan, representing 3.31% of total revenue, an increase from 3.18% in the previous year[91]. - The company owns 74 patents, up from 48 in the previous year, indicating a focus on innovation[93]. Customer Dependency and Risks - The company relies heavily on its top five customers, which contributed 50.37% of its main business revenue, highlighting a significant dependency risk[13]. - Major customers accounted for 50.37% of total sales, with the largest customer, Germany's Furins Company, contributing CNY 90.82 million, or 19.83% of total sales[72]. - The company plans to diversify its customer base by exploring emerging markets in Southeast Asia and Latin America to mitigate dependency risks[119]. Corporate Governance and Compliance - The company has established effective internal controls related to revenue recognition and inventory write-down provisions, ensuring the accuracy and completeness of financial reporting[102]. - The company has implemented a system for accountability regarding significant errors in annual reports[190]. - The company has ensured that all shareholders enjoy equal rights and protections in accordance with relevant laws and regulations[192]. - The company has adhered to prescribed procedures for major decision-making processes throughout the reporting period[193]. - The company has established a comprehensive investor relations management system to facilitate shareholder engagement[192]. Environmental and Social Responsibility - The company actively fulfills its social responsibilities, including tax contributions to support national and local economic development[105]. - The company has implemented environmental protection measures, ensuring compliance with relevant laws and regulations, and has a wastewater treatment capacity of 700m3 per day[108]. Financial Position and Assets - The total assets at the end of 2021 amounted to CNY 408,922,379.26, reflecting a growth of 9.05% from CNY 374,995,749.90 at the end of 2020[33]. - The company's debt-to-asset ratio (consolidated) was 23.56% at the end of 2021, a slight decrease from 24.83% at the end of 2020[33]. - The company has total restricted assets valued at 74,520,911.59, accounting for 18.23% of total assets[147]. - The company’s fixed assets include buildings valued at 34,389,990.62, which is 8.41% of total assets, and land use rights valued at 38,630,920.97, accounting for 9.45% of total assets[147]. Stock Issuance and Public Offering - The company successfully listed on the Beijing Stock Exchange on March 11, 2022, following its application acceptance on June 30, 2021[5]. - The company plans to publicly issue stocks to unspecified qualified investors and list on the selected tier, with a focus on fundraising for investment projects[198]. - The company is in the process of hiring intermediaries for the public issuance of stocks and listing on the selected tier[197]. - The company will implement measures to stabilize stock prices for three years after the public issuance of stocks[198]. Employee Information - The total number of employees increased from 1,613 to 1,714, representing a growth of approximately 6.3% during the reporting period[179]. - The number of management personnel decreased from 60 to 55, a reduction of 8.3%[179]. - The total number of production personnel increased from 1,306 to 1,401, reflecting an increase of about 7.3%[179]. - The company has implemented a training program that includes both internal and external training resources to enhance employee skills[181].