Financial Performance - For the six months ended June 30, 2019, the company reported total revenue of RMB 0 thousand, a significant decrease from RMB 248,721 thousand in the same period of 2018[3]. - The cost of sales for the same period was RMB (254,153) thousand, resulting in a gross loss of RMB (5,432) thousand[3]. - Other income increased to RMB 13,516 thousand from RMB 1,601 thousand year-on-year[3]. - The company recorded a loss before tax of RMB (5,735) thousand, compared to a loss of RMB (22,050) thousand in the previous year, indicating an improvement[3]. - The total comprehensive loss for the period was RMB (3,999) thousand, a reduction from RMB (23,758) thousand in the prior year[5]. - Basic and diluted loss per share was RMB (0.65), an improvement from RMB (2.54) in the same period of 2018[5]. - The company incurred a loss of RMB 5,735 thousand for the six months ended June 30, 2019, compared to a loss of RMB 22,050 thousand in the previous period[10]. - The group reported a loss before tax of RMB (5,735,000) for the six months ended June 30, 2019, compared to a loss of RMB (22,050,000) for the same period in 2018, showing an improvement in performance[40]. - The company reported a loss attributable to owners of approximately RMB 5,700,000, significantly reduced from a loss of RMB 22,100,000 in the previous year[71]. Assets and Liabilities - Non-current assets decreased to RMB 766,431 thousand from RMB 792,724 thousand as of December 31, 2018[7]. - Current assets increased to RMB 126,153 thousand from RMB 101,936 thousand as of December 31, 2018[7]. - Total liabilities decreased to RMB 52,558 thousand from RMB 59,626 thousand as of December 31, 2018[8]. - The company's equity attributable to owners decreased slightly to RMB 827,329 thousand from RMB 831,265 thousand as of December 31, 2018[8]. - The company's total assets as of June 30, 2019, were RMB 830,796,000, slightly down from RMB 834,732,000 as of December 31, 2018[28]. - The group’s total liabilities as of June 30, 2019, were RMB 40,000 for the assets classified as held for sale[54]. Cash Flow - The company reported a net cash inflow from operating activities of RMB 10,270 thousand for the six months ended June 30, 2019, compared to a net cash outflow of RMB 133,177 thousand in the same period of 2018[12]. - The company had cash and cash equivalents of RMB 21,418 thousand at the end of the reporting period, an increase from RMB 8,168 thousand at the beginning of the period[12]. - The company’s financing activities generated a net cash inflow of RMB 1,231 thousand, significantly lower than the RMB 84,310 thousand generated in the same period of 2018[12]. - As of June 30, 2019, the company had cash and bank balances of approximately RMB 21,400,000, an increase from RMB 8,200,000 as of December 31, 2018[72]. Revenue Sources - The group's revenue from customer contracts for the six months ended June 30, 2019, was RMB 0, compared to RMB 248,721,000 for the same period in 2018, indicating a significant decline[34]. - Revenue from external customers in Hunan Province was RMB 248,721,000 for the six months ended June 30, 2019, compared to RMB 199,236,000 in the same period of 2018[29]. - The company did not record any revenue from its core business during the review period, compared to RMB 248,700,000 in the same period last year, but generated approximately RMB 12,016,000 from its newly launched lending business[70]. Employee and Operational Costs - The total employee costs for the six months ended June 30, 2019, were RMB 2,220,000, significantly lower than RMB 11,354,000 in the same period of 2018[40]. - The company's administrative expenses increased to approximately RMB 15,700,000, up from RMB 11,800,000 in the previous year, primarily due to the lack of operational income during the review period[71]. Corporate Governance - The company has adopted a standard code for securities trading by directors, confirming compliance by all directors during the six months ended June 30, 2019[101]. - The company has implemented corporate governance practices in accordance with the listing rules, with ongoing reviews to improve standards[102]. - The audit committee is composed of three independent non-executive directors, with a focus on financial controls and risk management[108]. - Changes in the board included the resignation of independent non-executive director Deng Pingping and the appointment of Chen Yanxing as the new audit committee chairman[109]. Future Plans and Investments - The management is in the planning stage to establish its own testing laboratories at slaughterhouses in Changde and two farms in Taoyuan County, expected to be operational by the end of 2019[91]. - The company is actively exploring other potential investment opportunities to enhance shareholder value and diversify business risks[91]. - The company plans to utilize its operating income, internal resources, and bank financing for its operational and investment activities[75]. Shareholder Information - The total number of issued shares as of June 30, 2019, was 880,838,000[84]. - The average number of ordinary shares issued during the reporting period was 880,838,000, compared to 868,470,000 in the same period of 2018[42]. - The company did not declare or pay any interim dividends for the six months ended June 30, 2019, consistent with the previous year[44]. - The company has no immediate funding needs and has not established any specific plans to raise funds, but will consider various fundraising options as opportunities arise[69].

Market Impact and Operations - The outbreak of African swine fever in China has severely impacted the pork market, with approximately 40,000 pigs culled as of late 2018, affecting supply chains and prices[6]. - The company faced quarantine orders leading to a 42-day shutdown of its slaughterhouse in Changde, which significantly disrupted operations[7]. - In Q1 2019, the pig farming industry showed no signs of improvement, with pig prices reaching a 14-month high due to decreased supply from the culling of infected pigs[10]. - The company plans to acquire more quality pigs to maintain stable operations and will enhance testing of externally sourced pigs to ensure product quality[11]. - The company will implement more frequent health monitoring of its own pigs to prevent cross-infection and ensure product safety[11]. - The company expects it will take approximately 9 months to 1 year to fully resume operations affected by the African swine fever outbreak[52]. Financial Performance - The company's revenue for the year ended December 31, 2018, was approximately RMB 382 million, a decrease of about 43.3% compared to the same period in 2017[19]. - The average gross profit margin fell from approximately 4.2% in 2017 to an average gross loss margin of about 1.9% in 2018[33]. - Administrative expenses increased to approximately RMB 59 million in 2018 from about RMB 35 million in 2017, mainly due to costs associated with the African swine fever outbreak[33]. - The company reported a loss attributable to owners of approximately RMB 343 million in 2018, compared to a loss of about RMB 300,000 in 2017[34]. - The group recorded an impairment provision of approximately RMB 208 million for property, plant, and equipment due to the instability caused by the African swine fever outbreak[16]. Funding and Capital Management - In 2018, the company attempted to raise funds by issuing 173,692,000 shares at HKD 0.159 per share to improve its financial situation, but the agreement was ultimately terminated due to market volatility[8]. - The group plans to utilize approximately HKD 87.82 million (about 62.5% of the net proceeds from the rights issue) to repay outstanding loans[30]. - The net proceeds from the rights issue amounted to approximately HKD 140.53 million, with about HKD 52.71 million reserved for general working capital and potential future business opportunities[30]. - The company agreed to issue 289,490,000 rights shares at a subscription price of HKD 0.50 per share to raise approximately HKD 144.75 million[30]. Corporate Governance - The company aims to maintain high corporate governance standards to achieve sustainable long-term development and create value for shareholders[11]. - The company has adopted the corporate governance code as per the listing rules and will continue to review and enhance its governance standards[118]. - The board is responsible for determining overall strategy, monitoring operational and financial performance, and managing risks associated with achieving the group's strategic objectives[123]. - The board currently consists of seven directors, including four executive directors and three independent non-executive directors, meeting the requirement of at least three independent non-executive directors[122]. - The company has established a code of conduct for securities trading by directors, confirming compliance with the standard code as of December 31, 2018[140]. Risk Management - The company has established a risk management framework to identify and assess potential risks[171]. - The board is responsible for the overall effectiveness of the risk management and internal control systems, with annual reviews conducted[159]. - The company confirmed that the risk management and internal control systems are effective and sufficient as of December 31, 2018[161]. - The Audit Committee reviewed the effectiveness of the risk management and internal control systems, finding no significant issues during the review period[161]. Shareholder Relations - The company maintains open communication with shareholders and investors through financial reports and annual general meetings[173]. - Shareholders holding at least 10% of the paid-up capital have the right to request the board to convene a special general meeting[174]. - The board regularly reviews its policies to ensure effective communication with shareholders[175]. Asset Management - As of December 31, 2018, the total receivables amounted to RMB 260,000,000, with an expected credit loss provision of RMB 265,000[191]. - The total value of property, plant, and equipment as of December 31, 2018, was approximately RMB 261,733,000[195]. - The group recognized an impairment loss of approximately RMB 207,640,000 for property, plant, and equipment due to indications of impairment[195]. Dividend Policy - The company will continue to review its dividend policy periodically, with no guarantee of specific dividend amounts in any given period[185]. - The board will consider factors such as the group's profitability and financial condition when deciding on dividend payments[184]. - The company has adopted a dividend policy effective December 31, 2018, which outlines the factors considered for dividend distribution[183].