Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,338,587.46, representing a year-on-year increase of 162.08%[3] - Total operating revenue for Q1 2022 was CNY 1,338,587.46, a significant increase from CNY 510,746.26 in Q1 2021, representing a growth of approximately 162.5%[15] - The net loss for Q1 2022 was CNY 34,308,287.63, worsening from a net loss of CNY 10,123,084.37 in Q1 2021[16] - The comprehensive loss for Q1 2022 totaled CNY 36,153,410.63, compared to a loss of CNY 218,764.23 in Q1 2021[16] - Basic and diluted earnings per share for Q1 2022 were both CNY -0.0707, compared to CNY -0.0209 in Q1 2021[16] Cash Flow - The net cash flow from operating activities was CNY -8,888,588.42, indicating a decrease of 43.41% due to increased tax payments[4] - The total cash outflow from operating activities in Q1 2022 was approximately $23.55 million, compared to $6.63 million in Q1 2021[18] - The net cash flow from operating activities for Q1 2022 was approximately -$8.89 million, worsening from -$6.20 million in Q1 2021[19] - The ending balance of cash and cash equivalents as of Q1 2022 was approximately $66.28 million, up from $21.22 million in Q1 2021[19] - The cash paid for purchasing goods and services in Q1 2022 was approximately $15.25 million, compared to $371.06 thousand in Q1 2021[18] - The cash paid to employees in Q1 2022 was approximately $4.08 million, slightly increasing from $4.04 million in Q1 2021[18] Assets and Liabilities - Total assets at the end of Q1 2022 were CNY 1,716,311,726.74, down 2.26% from the end of the previous year[4] - Total assets as of the end of Q1 2022 were CNY 1,716,311,726.74, down from CNY 1,756,043,116.72 at the end of Q1 2021[12] - Total liabilities for Q1 2022 were CNY 78,212,370.50, a decrease from CNY 81,790,349.85 in Q1 2021[12] - Shareholders' equity attributable to the parent company decreased by 2.16% to CNY 1,638,099,356.24[4] - Shareholders' equity as of the end of Q1 2022 was CNY 1,638,099,356.24, down from CNY 1,674,252,766.87 in Q1 2021[12] - Deferred income tax liabilities were CNY 69,932,931.80 in Q1 2022, slightly decreasing from CNY 70,547,972.80 in Q1 2021[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,828[6] - The largest shareholder, Baotou Grassland Sugar Industry Group, holds 31.49% of the shares, with 152,717,960 shares pledged[6][7] Expenses - The company reported a significant increase in sales expenses by 12.51% and management expenses by 16.64%, primarily due to increased flour sales[4] - Financial expenses surged by 189.91%, mainly due to increased interest income[4] - Total operating costs for Q1 2022 amounted to CNY 9,723,187.85, compared to CNY 8,499,997.83 in Q1 2021, indicating an increase of about 14.4%[15] - The company reported a significant investment loss of CNY 25,922,576.28 in Q1 2022, compared to a loss of CNY 2,134,921.91 in Q1 2021[15] Market and Product Development - The company does not have any new product launches or significant market expansion strategies reported in this quarter[8] - The company has not disclosed any new product or technology developments during the earnings call[19] - There were no mentions of market expansion or mergers and acquisitions in the earnings call[19]

Financial Performance - The net profit attributable to the parent company for 2021 was CNY 9,966,999.42, a significant increase of 107.95% compared to a net loss of CNY 125,302,443.18 in 2020[6]. - The total operating revenue for 2021 was CNY 42,234,362.75, representing a year-on-year increase of 9.30% from CNY 38,639,412.05 in 2020[22]. - The basic earnings per share for 2021 was CNY 0.0206, recovering from a loss of CNY 0.2584 in 2020, marking an increase of 107.97%[23]. - The company's total assets at the end of 2021 were CNY 1,756,043,116.72, a decrease of 1.70% from CNY 1,786,359,303.93 at the end of 2020[22]. - The net cash flow from operating activities for 2021 was CNY -17,713,786.75, worsening from CNY -7,907,285.64 in 2020[22]. - The weighted average return on equity for 2021 was 0.59%, an increase of 7.59 percentage points from -7.00% in 2020[23]. - The net assets attributable to shareholders at the end of 2021 were CNY 1,674,252,766.87, a slight decrease of 0.73% from CNY 1,686,575,498.72 at the end of 2020[22]. - The company reported a decrease of 2.89% in revenue from core business activities, with CNY 35,571,412.02 in 2021 compared to CNY 36,631,600.38 in 2020[22]. Cash Flow and Investments - The company established a wholly-owned subsidiary, Huazi Trading Co., Ltd., with an investment of CNY 10 million in November 2021, which generated a net revenue of CNY 592.89 million and a net profit of CNY 414.94 million by the end of the reporting period[31]. - The company's investment activities generated a net cash flow of CNY 65,457,421.82 million, a 109.47% increase compared to the previous year[36]. - The company reported a significant investment in financial assets, with an initial investment of 71.703 million yuan in Huaxia Bank, resulting in a reportable investment income of 3.30222 million yuan[56]. - The company incurred a total of CNY 14,423,980.00 in cash outflows from financing activities during 2021[171]. - The net cash flow from investment activities for 2021 was 55,457,421.82, up from 31,296,654.31 in 2020, showing a positive trend in investment returns[173]. Subsidiaries and Business Operations - The company established a wholly-owned subsidiary, Baotou Huazi Trading Co., Ltd., which was included in the consolidated financial statements[43]. - The company is exploring new development strategies and profit growth points, focusing on commissioned processing of grain through its new subsidiary[33]. - The company has increased its grain sales business during the reporting period[44]. - The company holds 100% of Baotou Huazi Sugar Reserve Co., Ltd., which has total assets of 55.5459 million yuan and a net profit of -1.17978 million yuan at the end of the reporting period[57]. - The company is expanding its logistics and national storage capabilities to enhance production efficiency and meet market demands[62]. Shareholder and Governance - The company ensures compliance with corporate governance regulations, maintaining independence in operations and financials from the controlling shareholder[67]. - The board of directors and supervisory board operate independently, ensuring major decisions are made according to legal procedures[67]. - The company has implemented strict information disclosure practices, ensuring timely and accurate communication with all shareholders[68]. - The company has established a system for accountability regarding major errors in annual report disclosures[68]. - The company maintains a clear separation of interests in related party transactions, ensuring fairness and compliance with regulations[68]. Market and Strategic Outlook - The company provided an optimistic outlook for the next quarter, projecting revenue growth of 25%[75]. - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[75]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $100 million allocated for potential deals[75]. - A new marketing strategy has been implemented, aiming to increase brand awareness by 30% over the next six months[75]. - The management team emphasized the importance of sustainability initiatives, aiming for a 40% reduction in carbon footprint by 2025[77]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 430, with 288 in production roles[88]. - The educational background of employees includes 231 with high school or below, 117 with associate degrees, and 82 with bachelor's degrees or higher[89]. - The company’s remuneration policy aligns with national regulations and includes social insurance and housing fund contributions for employees[90]. - Total compensation for all directors, supervisors, and senior management amounted to 73.22 million[81]. Financial Position and Equity - The total equity attributable to shareholders decreased to CNY 1,674,252,766.87, down 0.7% from CNY 1,686,575,498.72 in 2020[158]. - The company reported a comprehensive loss of -22,289,731.27 for the year, indicating challenges in profitability despite positive investment cash flows[178]. - The total equity at the beginning of the year was 1,791,239,784.13 RMB, showing a decline from the previous year's total[185]. - The company has not faced any significant legal or regulatory discrepancies in its governance practices[69]. - The company has not proposed any employee stock ownership plans or other incentive measures during the reporting period[95].

2021 年第三季度报告 证券代码：600191 证券简称：华资实业 包头华资实业股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人宋卫东、主管会计工作负责人张世潮及会计机构负责人（会计主管人员）杨荣正 保证季度报告中财务报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是√否 一、 主要财务数据 (一)主要会计数据和财务指标 1 / 11 单位：元 币种：人民币 项目 本报告期 本报告期比上 年同期增减变 动幅度(%) 年初至报告期末 年初至报告期末 比上年同期增减 变动幅度(%) 营业收入 36,020,497.37 2,872.98 36,968,028.66 -2.17 归属于上市公司股东 的净利润 7,696,901.66 -36.11 8,826,338.43 -71.22 归属于上市公司 ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 947,531.29, a decrease of 97.41% compared to the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 1,129,436.77, down 93.93% year-on-year[20]. - The basic earnings per share for the first half of 2021 was CNY 0.0023, a decline of 94.01% compared to the same period last year[21]. - The company reported a net profit of CNY -20,489,670.94 from Heng Tai Securities, with total revenue of CNY 1,009,444,638.62 for the reporting period[34]. - The company reported a net loss of CNY 7,273,980.00 during the first half of 2021, reflecting challenges in profitability compared to the previous period[86]. - The total comprehensive income for the first half of 2021 was CNY 3,562,497.17, compared to a loss of CNY 60,710,626.40 in the first half of 2020[70]. - The company experienced a credit impairment loss of CNY 1,022,840.83 in the first half of 2021, a significant improvement from a loss of CNY -3,433,063.43 in the previous year[69]. Cash Flow - The net cash flow from operating activities was -CNY 11,830,681.98, indicating a negative cash flow situation[20]. - The net cash flow from operating activities for the first half of 2021 was -11,830,681.98 RMB, compared to -5,363,616.76 RMB in the first half of 2020, indicating a decline in operational cash flow[75]. - Total cash inflow from operating activities was 2,620,857.35 RMB, significantly lower than 69,018,455.72 RMB in the same period last year, reflecting a decrease of approximately 96.2%[75]. - Cash outflow from operating activities totaled 14,451,539.33 RMB, down from 74,382,072.48 RMB in the previous year, marking a reduction of about 80.6%[75]. - Cash flow from investment activities showed a net inflow of 27,675,182.66 RMB, compared to 39,056,249.21 RMB in the first half of 2020, representing a decrease of approximately 29.2%[76]. - The company reported a net increase in cash and cash equivalents of 15,844,500.68 RMB for the first half of 2021, compared to 26,542,688.94 RMB in the same period of 2020, a decrease of approximately 40.8%[76]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,782,035,365.71, a decrease of 0.24% from the end of the previous year[20]. - The total liabilities decreased from CNY 99,783,805.21 in 2020 to CNY 91,897,369.82 in 2021, reflecting a reduction of approximately 7.5%[61]. - The total equity of the company at the end of the first half of 2021 was CNY 1,795,904,718.35, compared to CNY 1,958,043,183.05 at the end of the previous year, indicating a decrease of approximately 8.3%[89]. - The company's total current assets as of June 30, 2021, amount to 119,609,983.08 RMB, an increase from 85,189,184.08 RMB as of December 31, 2020, representing a growth of approximately 40.4%[59]. - The total non-current assets are reported at 1,638,297,768.68 RMB, reflecting a stable asset base[59]. Investment and Income - The company reported an investment income of CNY 17,111,000, contributing to the net profit[24]. - The investment income from Huaxia Bank's cash dividends was CNY 19,534,900[27]. - The investment income for the first half of 2021 was CNY 17,110,971.93, down from CNY 25,889,521.51 in the previous year[69]. - The company sold 4,604,001 shares of Huaxia Bank, retaining 64,900,000 shares, which represents 0.42% of the total share capital[32]. Business Operations - The company did not process any sugar business during the reporting period due to the pandemic and policy reasons, resulting in zero main business income[24]. - The company plans to continue collaborating with other sugar enterprises for processing raw sugar as part of its operational strategy[24]. - The company has not disclosed any significant changes in its business operations or future impacts during the reporting period[25]. Shareholder and Equity Information - The top ten shareholders hold a total of 31.49% of shares, with Baotou Grassland Sugar Industry Group Co., Ltd. being the largest shareholder at 152,717,960 shares[54]. - The total capital contributions from owners remained stable at 484,932,000.00, consistent with the previous year[85]. - The company has maintained a consistent level of paid-in capital at 484,932,000.00 throughout the reporting periods[85]. Compliance and Governance - The company has not faced any penalties or violations related to its directors, supervisors, or senior management[46]. - There were no significant lawsuits or arbitration matters during the reporting period[46]. - The company has not disclosed any major contracts or guarantees during the reporting period[50]. Accounting Policies - The company's financial statements are prepared based on the going concern assumption, with no significant doubts regarding its ability to continue operations in the next 12 months[102]. - The company’s accounting policies comply with the relevant enterprise accounting standards, ensuring accurate financial reporting[103]. - The company did not report any significant changes in accounting policies or prior period errors during this reporting period[83].

Financial Performance - Operating revenue for the first nine months was CNY 37,787,257.11, representing a decline of 47.69% year-on-year[5] - Net profit attributable to shareholders for the first nine months was CNY 30,668,114.22, down 48.03% compared to the same period last year[5] - Basic earnings per share for the reporting period were CNY 0.0632, a decrease of 48.07% year-on-year[5] - The weighted average return on net assets was 1.65%, a decrease of 1.53 percentage points from the previous year[5] - The company reported a total of CNY 960.77 in non-recurring gains and losses for the reporting period[7] - Operating revenue decreased by 47.69% to ¥37,787,257.11 from ¥72,242,031.93, primarily due to the implementation of new revenue recognition standards[11] - Net profit fell by 48.03% to ¥30,668,114.22 from ¥59,007,324.94, mainly due to a significant reduction in investment income[12] - Investment income decreased by 42.18% to ¥53,002,200.18 from ¥91,672,444.70, attributed to a substantial decline in profits from Heng Tai Securities[12] Cash Flow - The net cash flow from operating activities for the first nine months was negative CNY 16,930,993.89, compared to negative CNY 1,927,484.41 in the same period last year[5] - Cash flow from operating activities showed a negative net amount of ¥16,930,993.89, a decline of 778.40% compared to the previous period[12] - Cash inflow from operating activities totaled 93,534,145.85 RMB, while cash outflow was 110,465,139.74 RMB, resulting in a net cash outflow of 16,930,993.89 RMB[27] - The net cash flow from financing activities was -14,423,980.00 RMB, compared to -45,333,828.16 RMB in the same period last year, showing an improvement[28] - The company reported a net cash flow from operating activities of -16,930,993.89 RMB for the first three quarters of 2020, compared to -1,927,484.41 RMB in the same period of 2019, indicating a significant decline[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,930,184,898.15, a decrease of 4.55% compared to the end of the previous year[5] - Total assets decreased to ¥1,930,184,898.15 from ¥2,022,276,786.27, reflecting a reduction in both current and non-current assets[14] - Total liabilities decreased to ¥97,583,342.59 from ¥135,001,475.07, indicating a reduction in financial obligations[15] - Total liabilities decreased to CNY 186,093,565.05 from CNY 223,217,585.93 in the previous year[17] - Total equity as of September 30, 2020, was CNY 1,903,410,364.11, compared to CNY 1,951,962,184.82 at the end of 2019[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 38,039[8] - The largest shareholder, Baotou Grassland Sugar Industry Group Co., Ltd., held 31.49% of the shares, with 152,717,960 shares pledged[9] - The second-largest shareholder, Baotou Shichuang Economic Technology Development Co., Ltd., held 17.61% of the shares, with 85,404,925 shares pledged[9] Investment Activities - Cash flow from investing activities increased by 66.40% to ¥40,359,640.79 from ¥24,255,093.26, mainly due to cash recovered from the sale of bank stocks[12] - The company generated 40,382,641.94 RMB from investment activities, an increase from 24,255,093.26 RMB in the previous year[28] - The company received CNY 31,182,621.87 in investment income, compared to CNY 24,255,093.26 in the same period of 2019[30] Operational Efficiency - The company incurred a credit impairment loss of ¥3,433,063.43 in Q3 2020, compared to a gain of ¥2,449,349.31 in Q3 2019[21] - The total assets impairment loss recorded was ¥672,352.93 in Q3 2020[21] - The company’s management expenses for Q3 2020 were ¥12,715,837.38, an increase from ¥9,850,100.52 in Q3 2019[24]

Financial Performance - Operating revenue fell by 94.70% to CNY 514,939.72 from CNY 9,707,795.15 year-on-year[7] - Net profit attributable to shareholders decreased by 130.57% to a loss of CNY 19,649,224.34 compared to a profit of CNY 64,270,951.63 in the same period last year[7] - Basic and diluted earnings per share were both -0.0405, a decrease of 130.57% from CNY 0.1325[8] - Total revenue for Q1 2020 was CNY 514,939.72, a significant decrease of 94.69% compared to CNY 9,707,795.15 in Q1 2019[28] - The net profit for Q1 2020 was a loss of CNY 19,649,224.34, compared to a profit of CNY 64,270,951.63 in Q1 2019[29] - Comprehensive income for Q1 2020 was a loss of CNY 88,543,496.79, contrasting with a gain of CNY 118,465,786.63 in Q1 2019[29] - The company's operating revenue for Q1 2020 was CNY 415,929.82, a significant decrease from CNY 9,489,348.55 in Q1 2019, representing a decline of approximately 95.6%[31] - The net profit for Q1 2020 was a loss of CNY 18,753,224.59, compared to a profit of CNY 65,604,884.32 in Q1 2019, indicating a negative swing of approximately 128.5%[32] - The total comprehensive income for Q1 2020 was a loss of CNY 87,647,497.04, contrasting with a gain of CNY 119,799,719.32 in Q1 2019, reflecting a decline of approximately 173.0%[32] Cash Flow - Cash flow from operating activities improved to a loss of CNY 5,078,830.75, compared to a loss of CNY 9,587,911.66 in the previous year[7] - Cash flow from operating activities improved by 47.03% to -¥5,078,830.75 from -¥9,587,911.66, attributed to increased cash receipts from sales[17] - Cash flow from investing activities surged by 351.33% to ¥21,742,874.11 from ¥4,817,545.63, mainly from the sale of shares and financial assets[17] - The net cash flow from operating activities for Q1 2020 was a negative CNY 5,078,830.75, an improvement from a negative CNY 9,587,911.66 in Q1 2019[34] - The company reported cash inflows from investment activities of CNY 21,742,874.11 in Q1 2020, a substantial increase from CNY 4,817,545.63 in Q1 2019[35] - The net cash flow from investing activities was $21,742,874.11, compared to $4,817,545.63 in the previous period[38] - The net cash flow from financing activities was -$7,150,000.00, reflecting a decrease from -$1,475,344.80 in the prior period[38] - The net increase in cash and cash equivalents was $9,703,348.14, contrasting with a decrease of $6,503,759.51 previously[38] - The ending balance of cash and cash equivalents was $16,339,436.66, up from $30,641,694.19 in the last period[38] Assets and Liabilities - Total assets decreased by 5.46% to CNY 1,911,907,121.45 compared to the end of the previous year[7] - Total assets decreased to ¥1,911,907,121.45 from ¥2,022,276,786.27, reflecting a decline in non-current assets[22] - Total liabilities as of March 31, 2020, were CNY 193,551,927.15, a decrease from CNY 223,217,585.93 as of December 31, 2019[26] - Total equity as of March 31, 2020, was CNY 1,872,152,865.13, down from CNY 1,951,962,184.82 as of December 31, 2019[26] - Cash and cash equivalents increased by 88.83% to ¥20,224,858.03 from ¥10,710,755.13 due to the sale of shares in Huaxia Bank and trading financial assets[14] - Cash and cash equivalents increased to CNY 16,339,436.66 as of March 31, 2020, from CNY 6,636,088.52 as of December 31, 2019[24] - Inventory decreased slightly to CNY 2,635,515.76 as of March 31, 2020, from CNY 2,706,741.89 as of December 31, 2019[24] Shareholder Information - The total number of shareholders at the end of the reporting period was 38,016[12] - The largest shareholder, Baotou Grassland Sugar Industry Group, holds 31.49% of shares, with 152,717,960 shares pledged[12] - The second-largest shareholder, Baotou Shichuang Economic and Technological Development Co., Ltd., holds 17.61% of shares[12] Other Financial Metrics - The weighted average return on equity decreased by 4.46 percentage points to -1.06%[7] - The company reported non-operating income of CNY 11,483.59, which includes government subsidies and other non-recurring gains[10] - Trade receivables decreased by 32.21% to ¥1,596,908.00 from ¥2,355,798.01 as a result of payments made during the reporting period[14] - Operating costs decreased by 91.18% to ¥875,152.08 from ¥9,923,692.20, influenced by the new accounting standards[15] - Other payables decreased by 72.05% to ¥2,446,788.11 from ¥8,753,622.06 due to repayments made by the parent company[15] - Prepayments increased by 44.34% to ¥1,283,018.33 from ¥888,892.74, mainly due to prepayments received by the parent company[14] - The company incurred sales expenses of CNY 218,131.20 in Q1 2020, down from CNY 339,215.63 in Q1 2019, indicating a reduction of approximately 35.6%[31] - The company’s financial expenses in Q1 2020 were a net income of CNY -1,059.88, compared to a cost of CNY 1,419,816.46 in Q1 2019, showing a significant improvement[31] - The company’s research and development expenses were not disclosed in the report for Q1 2020[31] - The company reported a significant investment loss of CNY -12,844,113.18 in Q1 2020, compared to a gain of CNY 75,026,054.30 in Q1 2019, marking a decline of approximately 117.1%[31]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥36,575,663.41, representing a 10.16% increase compared to ¥33,202,934.70 in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2020 was ¥18,621,768.96, a decrease of 65.90% from ¥54,602,150.13 in the previous year[15]. - The net cash flow from operating activities was negative at -¥5,363,616.76, compared to a positive cash flow of ¥5,211,174.49 in the same period last year, marking a 202.93% decline[15]. - Basic earnings per share for the first half of 2020 were ¥0.0384, a decrease of 65.90% compared to ¥0.1126 in the same period last year[16]. - The weighted average return on net assets was 1.00%, down by 1.93 percentage points from 2.93% in the previous year[16]. - The company reported a significant decline in investment income, which fell to CNY 25,889,521.51 from CNY 77,516,161.39, a decrease of approximately 66.66%[66]. - The total comprehensive income for the first half of 2020 was a loss of CNY 60,710,626.40, compared to a gain of CNY 74,137,497.63 in the same period of 2019[64]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,925,574,013.23, down 4.78% from ¥2,022,276,786.27 at the end of the previous year[15]. - The total current assets as of June 30, 2020, amount to 235,923,040.81 RMB, an increase from 213,595,563.17 RMB at the end of 2019[56]. - The total non-current assets as of June 30, 2020, are 1,689,650,972.42 RMB, down from 1,808,681,223.10 RMB at the end of 2019[56]. - The company's total liabilities and equity at the end of the reporting period were CNY 1,903,233,264.53[82]. - Total liabilities decreased from CNY 223.22 billion in December 2019 to CNY 194.50 billion by June 2020, representing a reduction of approximately 12.9%[61]. - Owner's equity decreased from CNY 1.95 billion at the end of 2019 to CNY 1.89 billion by June 2020, a decline of about 3.2%[61]. Cash Flow - The cash inflow from operating activities for the first half of 2020 was CNY 69,011,652.64, an increase of 22.7% compared to CNY 56,203,535.77 in the same period of 2019[73]. - The cash outflow from operating activities totaled CNY 74,038,517.00, up from CNY 51,132,988.03 in the previous year, resulting in a net cash flow from operating activities of -CNY 5,026,864.36[73]. - Cash inflow from investment activities reached CNY 39,079,250.36, significantly higher than CNY 4,817,545.63 in the first half of 2019[71]. - The net cash flow from investment activities was CNY 39,056,249.21, compared to CNY 4,817,545.63 in the same period last year[74]. - The net increase in cash and cash equivalents for the first half of 2020 was CNY 26,879,441.34, compared to CNY 6,503,273.52 in the same period of 2019[74]. Shareholder Information - The company plans no profit distribution or capital reserve transfer for the half-year period[34]. - The top shareholder, Baotou Grassland Sugar Industry (Group) Co., Ltd., holds 152,717,960 shares, accounting for 31.49% of total shares, with 130,500,000 shares pledged[47]. - The total equity attributable to the parent company at the end of the reporting period was CNY 1,819,290,704.80, a decrease from CNY 1,829,095,766.90 in the previous year, representing a decline of approximately 0.9%[79]. Operational Focus - The company continues to focus on sugar production and storage as its main business operations, with no changes reported during the reporting period[21]. - The company operates in the sugar production and storage industry, primarily engaged in the reprocessing of raw sugar and storage of white sugar and raw sugar[89]. - The company has two wholly-owned subsidiaries included in the consolidated financial statements: Inner Mongolia Ruquan Dairy Co., Ltd. and Baotou Huazi Sugar Reserve Co., Ltd.[91]. Accounting and Compliance - The financial statements were approved for release by the company's board of directors on August 27, 2020[90]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect its financial position and operating results[95]. - There were no changes in accounting policies or estimates that would impact financial reporting[42]. Management and Governance - The company has undergone changes in its board of directors, with the election of Dai Ruiping as an independent director[51]. - The company has not disclosed any major related transactions or changes in its operational strategies during the reporting period[38]. - There were no significant lawsuits or arbitration matters during the reporting period[37]. Future Outlook - The company plans to focus on enhancing its capital structure and exploring new investment opportunities to drive future growth[79]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[93].

Financial Performance - The company's operating revenue for 2020 was ¥38,639,412.05, a decrease of 65.21% compared to ¥111,070,495.39 in 2019[20] - The net profit attributable to shareholders for 2020 was -¥125,302,443.18, representing a decline of 625.09% from ¥23,862,910.80 in 2019[20] - The basic earnings per share for 2020 was -¥0.2584, a decrease of 625.20% compared to ¥0.0492 in 2019[21] - The total assets at the end of 2020 were ¥1,786,359,303.93, down 11.93% from ¥2,028,357,784.50 at the end of 2019[20] - The net assets attributable to shareholders decreased by 10.92% to ¥1,686,575,498.72 at the end of 2020 from ¥1,893,356,309.43 at the end of 2019[20] - The cash flow from operating activities for 2020 was -¥7,907,285.64, an improvement from -¥11,029,242.86 in 2019[20] - The weighted average return on equity for 2020 was -7.00%, a decrease of 8.29 percentage points from 1.29% in 2019[21] - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of -¥134,236,124.60 for 2020, a decline of 605.30% from ¥26,565,740.33 in 2019[20] Revenue Discrepancies - In Q1, the company reported revenue of CNY 514,939.72, which was significantly lower than the previously disclosed figure of CNY 10,869,866.53, resulting in a discrepancy of CNY -10,354,926.81[24] - In Q2, the revenue was CNY 36,326,210.43, down from the previously reported CNY 49,091,624.69, reflecting a decrease of CNY -13,030,901.00[24] - For Q3, the reported revenue was CNY 1,211,593.61, compared to the previously disclosed CNY 24,183,728.11, indicating a substantial drop of CNY -22,972,134.41[25] Cash Flow Analysis - The cash flow from operating activities showed a negative CNY -5,078,830.75 in Q1, improved to CNY -284,786.01 in Q2, but turned negative again at CNY -11,567,377.13 in Q3, before recovering to CNY 9,023,708.25 in Q4[23] - Cash flow from operating activities for 2020 was a net outflow of ¥7,907,285.64, an improvement from a net outflow of ¥11,029,242.86 in 2019[147] - Cash flow from investing activities generated a net inflow of ¥31,249,166.31 in 2020, down from ¥124,390,153.19 in 2019[147] - Cash flow from financing activities resulted in a net outflow of ¥14,423,980.00 in 2020, compared to a net outflow of ¥136,978,010.62 in 2019[148] Industry Challenges - The company faced significant challenges in the sugar industry due to high production costs and oversupply, exacerbated by the global economic downturn caused by the COVID-19 pandemic[33] - The sugar production for the 2020/21 season was reported at 353.38 million tons, a decrease of 26.32 million tons compared to the previous year, with a sales rate of 41.62%, down by 10.48 percentage points[34] - The company has shifted its focus from beet sugar production to refining raw sugar, due to unfavorable market conditions and low profitability in the sugar industry[33] Shareholder Information - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[4] - The company implemented a cash dividend of 0.15 RMB per 10 shares for the 2019 fiscal year, totaling 7,273,980 RMB distributed to shareholders[62] - The net profit attributable to ordinary shareholders for 2019 was 23,862,910.80 RMB, resulting in a dividend payout ratio of 30.48%[62] - The company reported a net loss of 125,302,443.18 RMB in 2020, with no dividends declared for that year[62] Governance and Management - The company has established a clear cash dividend policy to protect the rights of minority investors, as per regulatory guidelines[62] - The current auditor, Zhongzhun Accounting Firm, has been engaged for 13 years with an audit fee of 400,000 RMB[65] - The company has not made any changes to accounting policies or estimates during the reporting period[65] - The company has not reported any asset or project that failed to meet original profit forecasts during the reporting period[64] Employee and Board Structure - The total number of ordinary shareholders at the end of the reporting period is 42,080, down from 43,428 at the end of the previous month[79] - The total number of employees in the parent company is 454, with a combined total of 458 employees including major subsidiaries[98] - The professional composition includes 305 production personnel, 8 sales personnel, 80 technical personnel, 33 financial personnel, and 32 administrative personnel[98] - The company has a diverse board with members having extensive backgrounds in finance, law, and management, enhancing its governance[90] Financial Position - Total assets decreased from CNY 2,028,357,784.50 in 2019 to CNY 1,786,359,303.93 in 2020, a decline of approximately 11.93%[134] - Current assets decreased significantly from CNY 219,676,561.40 in 2019 to CNY 85,189,184.08 in 2020, a drop of about 61.19%[134] - Total liabilities decreased from CNY 135,001,475.07 in 2019 to CNY 99,783,805.21 in 2020, a decline of about 26.00%[135] - Shareholders' equity decreased from CNY 1,893,356,309.43 in 2019 to CNY 1,686,575,498.72 in 2020, a drop of approximately 10.94%[135] Audit and Compliance - The internal control audit report issued by Zhongjun Accounting Firm provided a standard unqualified opinion, affirming the company's financial statements' compliance with accounting standards[114][115] - The audit report emphasized the importance of communication with governance regarding significant audit findings and internal control deficiencies[131] - The financial statements were prepared in accordance with accounting standards, ensuring fair representation and necessary disclosures regarding the company's ongoing operations[125] Risk Management - The company faces risks from fluctuations in sugar prices and insufficient procurement of raw sugar, which could impact operational performance[59] - The company has maintained a consistent approach to risk management by allocating funds to general risk reserves, ensuring financial stability[159]

Financial Performance - Operating revenue for the current period was CNY 510,746.26, representing a decrease of 0.81% year-on-year[8] - Net profit attributable to shareholders was CNY -10,123,084.37, an improvement from CNY -19,649,224.34 in the same period last year[8] - Basic and diluted earnings per share were both CNY -0.0209, showing no improvement from the previous year[8] - Total revenue for Q1 2021 was 510,746.26 million RMB, a decrease of 0.4% compared to 514,939.72 million RMB in Q1 2020[27] - Net profit for Q1 2021 was -10,123,084.37 million RMB, an improvement from -19,649,224.34 million RMB in Q1 2020[28] - Comprehensive income for Q1 2021 was -218,764.23 million RMB, compared to -88,543,496.79 million RMB in Q1 2020[29] - Basic and diluted earnings per share for Q1 2021 were both -0.0209 RMB, compared to -0.0405 RMB in Q1 2020[29] - The company reported an investment loss of -2,134,921.91 million RMB in Q1 2021, compared to -12,844,113.18 million RMB in Q1 2020[30] - The company’s net loss for Q1 2021 was -8,985,875.25 RMB, consistent with the previous year's loss of -18,753,224.59 RMB[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,788,930,031.15, a 0.14% increase compared to the end of the previous year[8] - As of March 31, 2021, the total current assets amount to 79,276,549.95, down from 85,189,184.08 as of December 31, 2020, reflecting a decrease of approximately 6.7%[19] - The company's total non-current assets increased to 1,709,653,481.20 from 1,701,170,119.85, representing a growth of about 0.3%[20] - The total liabilities increased to 102,573,296.66 from 99,783,805.21, marking an increase of approximately 2.0%[21] - Total liabilities increased to 190,984,180.62 million RMB, compared to 188,484,689.17 million RMB in the previous year[25] - Owner's equity totaled 1,792,158,229.02 million RMB, a slight increase from 1,791,239,784.13 million RMB year-over-year[25] Cash Flow - Cash flow from operating activities was CNY -6,197,865.09, compared to CNY -5,078,830.75 in the previous year, indicating a decline[8] - The net cash flow from investing activities for the current period is 0, a 100% decrease compared to the previous period due to the company's failure to sell financial assets[16] - The net cash flow from financing activities is -7,150,000, indicating that the company did not repay any loans during the current period[16] - The net cash flow from operating activities for Q1 2021 was -6,197,865.09 RMB, worsening from -5,078,830.75 RMB in Q1 2020[34] - The company reported a net cash outflow from financing activities of -7,150,000.00 RMB in Q1 2021[38] - The cash flow from investment activities was positive at 21,742,874.11 RMB, indicating potential growth opportunities despite operational losses[35] Costs and Expenses - Total operating costs increased to 8,499,997.83 million RMB, up 16.1% from 7,322,963.50 million RMB in the same period last year[27] - Financial expenses were CNY -24,925.31, with no interest expenses incurred during the reporting period[15] - Other income decreased by 62.61% to CNY 1,089.11, primarily due to reduced rental income from subsidiaries[15] - The total comprehensive income for Q1 2021 was 918,444.89 RMB, compared to -87,647,497.04 RMB in Q1 2020, showing a substantial recovery[31] - The total operating cash outflow for Q1 2021 was 6,628,271.97 RMB, a decrease from 17,651,649.56 RMB in Q1 2020, reflecting improved cash management[34] Equity and Returns - The weighted average return on equity increased by 0.46 percentage points to -0.60%[8] - The company's total equity decreased to 1,686,356,734.49 from 1,686,575,498.72, indicating a slight decline of about 0.01%[21] - Cash and cash equivalents decreased to 21,222,824.97 from 27,420,690.06, a decline of approximately 22.6%[19] - Accounts receivable increased to 2,708,490.10 from 2,500,939.50, reflecting an increase of about 8.3%[19]

Financial Performance - Net profit attributable to shareholders decreased by 48.03% to CNY 30,668,114.22 for the year-to-date period[5] - Basic earnings per share decreased by 48.07% to CNY 0.0632[5] - Operating revenue increased by 16.48% to CNY 84,145,219.33 for the year-to-date period[5] - Net profit decreased by 48.03% to ¥30,668,114.22 from ¥59,007,324.94, attributed to a significant reduction in investment income[13] - The company reported a total profit of ¥13,032,653.38 for the first three quarters of 2020, down from ¥60,696,431.44 in the same period of 2019, reflecting a decline of about 79%[25] - Operating profit for Q3 2020 was ¥13,032,831.22, a decrease from ¥60,696,431.44 in Q3 2019, representing a decline of approximately 79%[25] Cash Flow - Net cash flow from operating activities was negative at CNY -16,930,993.89, compared to CNY -1,927,484.41 in the previous year[5] - The company reported a net cash flow from operating activities of -16,930,993.89 RMB for the first three quarters of 2020, compared to -1,927,484.41 RMB in the same period of 2019, indicating a significant decline in operational cash flow[28] - Total cash inflow from operating activities was 93,534,145.85 RMB, while cash outflow was 110,465,139.74 RMB, resulting in a net cash outflow of 16,930,993.89 RMB[28] - Cash flow from investment activities showed a net inflow of CNY 40,359,640.79, up from CNY 24,255,093.26 in the previous year[31] - The company’s net cash flow from financing activities was -14,423,980.00 RMB, a decrease from -45,333,828.16 RMB in the same period last year[29] Assets and Liabilities - Total assets decreased by 4.55% to CNY 1,930,184,898.15 compared to the end of the previous year[5] - Total liabilities decreased to ¥97,583,342.59 from ¥135,001,475.07, indicating a reduction in financial obligations[16] - The company's total assets as of September 30, 2020, amounted to ¥2,089,503,929.16, down from ¥2,175,179,770.75 at the end of 2019, a decline of about 3.9%[18] - The total liabilities decreased to ¥186,093,565.05 from ¥223,217,585.93, representing a reduction of about 16.6%[18] - The company's equity totaled ¥1,903,410,364.11 as of September 30, 2020, down from ¥1,951,962,184.82 at the end of 2019, indicating a decrease of approximately 2.5%[18] Shareholder Information - The total number of shareholders was 38,039 at the end of the reporting period[9] - The largest shareholder, Baotou Grassland Sugar Industry Group, holds 31.49% of shares, which are pledged[9] - The second-largest shareholder, Baotou Shichuang Economic Technology Development Co., Ltd., holds 17.61% of shares, which are also pledged[9] Inventory and Receivables - Inventory decreased by 34.99% to ¥1,759,605.74 from ¥2,706,741.89, primarily due to sugar sales during the reporting period[10] - Accounts receivable rose to ¥856,512.32 from ¥594,146.61, an increase of about 44.3%[18] Investment Income - The company reported a significant increase in investment income, totaling ¥27,112,678.67 in Q3 2020, compared to ¥14,156,283.31 in Q3 2019, an increase of approximately 91%[25] - Investment income for the first three quarters of 2020 reached ¥53,002,200.18, compared to ¥91,672,444.70 in the same period of 2019, reflecting a decrease of approximately 42.3%[21] Other Financial Metrics - The weighted average return on equity decreased by 1.53 percentage points to 1.65%[5] - The company incurred credit impairment losses of ¥3,433,063.43 in Q3 2020, compared to a gain of ¥2,449,349.31 in Q3 2019[22] - Other comprehensive income after tax attributable to the parent company was ¥1,264,505.50 in Q3 2020, compared to a loss of ¥20,165,520.00 in Q3 2019[23]