Company Listing and Structure - In December 2022, the company was successfully listed on the Beijing Stock Exchange[9] - The company completed the registration capital change to ¥180.21 million as of December 9, 2022[30] - The company has undergone changes in its registration type to a listed public company and completed relevant administrative procedures[30] - The company has 10 wholly-owned subsidiaries and 2 holding subsidiaries, focusing on vegetable seeds and pesticide products[90] - The company has not issued preferred shares, indicating a focus on common equity[176] - The total number of ordinary shares outstanding is now 180,205,900 shares, with 27,998 ordinary shareholders[168] - The largest shareholder holds 86,214,900 restricted shares, representing 47.84% of the total shares[168] - The top ten shareholders collectively hold 125,309,890 shares, representing 69.54% of the total shares[173] - The company has a clear strategy for shareholder management and transparency regarding ownership relationships[175] Financial Performance - The company's operating revenue for 2022 was approximately ¥387.53 million, a decrease of 1.13% compared to ¥391.96 million in 2021[34] - The net profit attributable to shareholders of the listed company for 2022 was approximately ¥47.77 million, representing a decline of 23.45% from ¥62.41 million in 2021[34] - The gross profit margin for 2022 was 42.79%, down from 46.89% in 2021[34] - The basic earnings per share for 2022 was ¥0.34, a decrease of 24.44% compared to ¥0.45 in 2021[34] - The weighted average return on net assets attributable to shareholders was 11.57% for 2022, down from 17.46% in 2021[34] - The company's total operating revenue for the reporting period was ¥387,528,650.28, a year-on-year decline of 1.13%[56] - The net profit after deducting non-recurring gains and losses is estimated to be ¥45,613,507.94, down 19.31% year-on-year[56] - The decline in net profit was primarily due to a reduction in offline agricultural technology promotion activities and increased product costs that could not be effectively passed on to downstream customers[56] Assets and Liabilities - Total assets increased by 62.95% year-over-year, reaching 818,170,869.65 yuan[36] - Total liabilities decreased by 21.12% year-over-year, amounting to 69,673,590.70 yuan[36] - Net assets attributable to shareholders increased by 87.25% year-over-year, totaling 728,439,456.46 yuan[36] - The current ratio improved significantly to 8.19, up 247.03% from the previous year[36] - The interest coverage ratio increased to 95.52, compared to 50.63 in the previous year[36] - The company reported a net asset per share of 4.04 yuan, an increase of 45.32% year-over-year[36] Inventory and Impairment - As of the end of the reporting period, the company's inventory balance was 113.59 million, with a provision for inventory impairment of 19.80 million[18] - The company has implemented a comprehensive inventory management system to mitigate risks associated with inventory impairment[18] - The company conducted impairment testing for inventory, requiring significant judgments regarding future selling prices and costs[112] Research and Development - The company focuses on self-research for pesticide formulations, supported by partnerships with universities and research institutions for technology optimization[48] - The company has a focus on innovation, with 46 patents obtained to enhance product competitiveness[49] - The company's R&D expenditure for the current period is ¥14,942,607.87, representing 3.86% of operating revenue, an increase from 3.49% in the previous period[102] - The total number of patents owned by the company has increased to 46 from 42 in the previous period[104] - The company has ongoing R&D projects aimed at developing new tomato and pepper varieties, which are expected to enhance market competitiveness[105][106] Market and Competition - The company faces significant market competition risks from international agricultural giants such as Bayer and BASF[17] - The domestic and international pesticide market is expected to continue stable growth, driven by structural adjustments in demand[120] - The market for efficient, low-toxicity, and environmentally friendly new pesticides is rapidly expanding, as traditional high-toxicity pesticides are being phased out[121] - The concentration of the pesticide industry is increasing due to stricter environmental and safety regulations, leading to the exit of smaller, less competitive firms[121] - The company aims to enhance its production and R&D capabilities, focusing on high-quality vegetable seed products and pest control solutions[126] Governance and Compliance - The actual controller of the company, Mr. Liu Tiebin, holds 47.84% of the shares, which poses risks if internal control systems are not effectively executed[19] - The company has established effective internal controls related to the recognition of revenue and inventory impairment[111][112] - The company has not reported any non-standard audit opinions for the current period[109] - The company has not faced delisting risks as confirmed in the report[20] Shareholder Commitments and Transactions - The company commits to a profit distribution policy in accordance with its articles of association and relevant regulations after going public[165] - Major shareholders have pledged that newly issued shares from the 2018 asset restructuring will not be transferred for 36 months post-registration, from February 15, 2019, to February 14, 2022[147] - The company has received assurances that there are no proxy holdings of shares, confirming that all shares are genuinely held by the respective shareholders[148] - The company will not distribute profits to individuals who have not fulfilled their commitments[162] - The company has committed to publicly disclose reasons for any unfulfilled commitments and apologize to shareholders if not due to force majeure[162] Legal and Regulatory Matters - The company has not faced any investigations or penalties during the reporting period[138] - The company reported no significant litigation or arbitration matters during the reporting period[138] - There were no instances of shareholders or related parties occupying or transferring company funds, assets, or other resources[139] Future Outlook - The company plans to increase market share for its pesticide products while extending its supply chain to create new profit growth points[126] - The company will implement a strategy of "seed + plant protection" to synergize its operations and improve market competitiveness[125] - No significant uncertainties affecting the company's future operational strategy or plans have been reported[127]

Financial Performance - The total operating revenue for 2022 was approximately ¥387.53 million, a decrease of 1.13% compared to the previous year[3]. - The net profit attributable to shareholders was approximately ¥47.77 million, down 23.45% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥45.61 million, a decrease of 19.31% compared to the previous year[3]. - Basic earnings per share were ¥0.34, reflecting a decline of 24.44% year-on-year[3]. - The weighted average return on equity decreased, with a pre-deduction rate of 11.57% and a post-deduction rate of 11.04%[3]. Assets and Equity - Total assets at the end of the reporting period were approximately ¥818.17 million, an increase of 62.95% from the beginning of the period[5]. - Shareholders' equity attributable to the company was approximately ¥728.44 million, up 87.25% from the beginning of the period[5]. - The increase in total assets and equity was mainly due to funds raised from issuing shares to unspecified qualified investors and retained earnings[6]. Business Challenges - The company's earnings decline was primarily due to the ongoing impact of the pandemic on business promotion and logistics, as well as increased product costs that could not be effectively passed on to customers[6]. Financial Caution - The financial data presented is preliminary and has not been audited, cautioning investors about potential risks[7].