股票代码：600195 股票简称：中牧股份 编号：临 2023-027 中牧实业股份有限公司 关于召开 2023 年半年度业绩说明会的公告 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法律责任。 会议召开时间：2023 年 10 月 12 日(星期四) 下午 15:00-16:00 会议召开地点：上海证券交易所上证路演中心 （网址：https://roadshow.sseinfo.com/） 会议召开方式：上海证券交易所上证路演中心网络互动 （一） 会议召开时间：2023 年 10 月 12 日（星期四）下午 15:00-16:00 （二） 会议召开地点：上海证券交易所上证路演中心 重要内容提示： 投资者可于 2023 年 9 月 27 日(星期三) 至 10 月 11 日(星期三)16:00 前登录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公司邮箱 600195@cahic.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 中牧实业股份有限公司（以下简称"公 ...

Financial Performance - The company's operating revenue for the first half of 2023 was ¥675,882,249.26, a decrease of 26.2% compared to ¥915,875,348.32 in the same period of 2022[6]. - The net profit for the first half of 2023 was ¥248,503,188.50, down 12% from ¥282,356,212.59 in the first half of 2022[5]. - The company's operating revenue for the first half of 2023 was ¥2,508,298,838.72, a decrease of 3.40% compared to ¥2,596,506,429.38 in the same period last year[162]. - Net profit attributable to shareholders of the listed company was ¥268,970,902.72, an increase of 4.61% from ¥257,108,118.47 year-on-year[162]. - The net profit after deducting non-recurring gains and losses was ¥204,842,904.44, down 19.77% from ¥255,311,019.57 in the previous year[162]. - The basic earnings per share for the first half of 2023 were ¥0.2188, compared to ¥0.2132 in the same period of 2022, indicating a growth of 2.6%[7]. - The basic earnings per share after deducting non-recurring gains and losses was CNY 0.2006, a decrease of 20.14% compared to the previous year[142]. - The company's net profit attributable to shareholders increased by 4.61% year-on-year, primarily due to increased investment income from the reduction of equity in joint ventures[142]. - The weighted average return on net assets decreased by 0.15 percentage points to 4.95% compared to the same period last year[142]. - The return on net assets after deducting non-recurring gains and losses decreased by 1.29 percentage points to 3.77% year-on-year[142]. Assets and Liabilities - The total assets as of June 30, 2023, amounted to ¥3,602,620,153.73, an increase from ¥3,288,322,240.96 at the end of 2022[1]. - The company's total assets at the end of the reporting period were ¥8,306,921,451.27, reflecting a growth of 4.66% from ¥7,937,406,197.86 at the end of the previous year[162]. - The total liabilities as of June 30, 2023, were not explicitly stated but are implied to have changed in relation to the total assets[1]. - The company's total equity at the end of the reporting period was 4,702,864,166.76 RMB, showing an increase from 4,421,796,815.80 RMB at the end of the previous year[14]. - The company's total equity as of June 30, 2023, is RMB 4,672,705,906.16, with a capital stock of RMB 1,021,148,260.00[21]. Cash Flow - The net cash flow from operating activities for the first half of 2023 was -192,780,776.42 RMB, an improvement from -368,772,153.24 RMB in the same period of 2022, indicating a reduction in cash outflow[10]. - The cash received from sales of goods and services was 650,783,264.62 RMB, down from 842,970,300.65 RMB in the first half of 2022, indicating a decline of approximately 22.7%[10]. - The company’s cash outflow for purchasing goods and services was 278,151,918.69 RMB, significantly lower than 829,821,416.43 RMB in the same period last year, marking a decrease of about 66.5%[10]. - Total cash inflow from investment activities increased to 141,242,484.14 RMB in the first half of 2023, compared to 79,933,073.40 RMB in the previous year, reflecting a significant growth of 76.8%[10]. - The cash flow from financing activities saw a substantial increase, with total cash inflow reaching 350,000,000.00 RMB, compared to 44,138,142.23 RMB in the same period last year[10]. Research and Development - Research and development expenses for the first half of 2023 were ¥20,270,681.40, a slight decrease of 10.5% compared to ¥22,588,248.71 in the same period of 2022[6]. - The company is actively involved in the research and development of biological feed, aiming to enhance its product offerings in the agricultural sector[24]. - The company emphasizes innovation in its R&D mechanisms, contributing to the successful implementation of research outcomes[175]. - The company is actively developing new products and technologies, focusing on bioproducts, chemical preparations, and new feed innovation centers[177]. - The company has established a new collaborative research and development mechanism, promoting open cooperation and shared benefits in innovation[198]. Market and Competition - The company is facing intensified competition in the feed industry due to sporadic outbreaks of animal epidemics, necessitating refined sales strategies and personalized technical services[97]. - The company continues to enhance its sales channels and customer development, leading to sustained growth in sales revenue of key products[172]. - The company aims to strengthen its core competitiveness by focusing on technological innovation and developing new business segments in pharmaceuticals, feed, and vaccines[195]. - The company integrates "medicine, materials, and seedlings" to provide comprehensive biosecurity services, enhancing customer trust and increasing group clients steadily[198]. - The company plays a crucial role in the national animal epidemic prevention system, acting as a key player in major epidemic control efforts[173]. Environmental and Compliance - The company has implemented a comprehensive VOCs (volatile organic compounds) management plan, ensuring compliance with emission standards and industry policies[100]. - The company completed the construction of wastewater treatment facilities, with environmental impact registration completed for the project[101]. - The company has established a comprehensive environmental monitoring system to ensure compliance with pollution discharge permits[114]. - The company has implemented measures to control pollutant emissions in compliance with national standards[111]. Shareholder and Equity Information - The controlling shareholder, China Agricultural Development Group Co., Ltd., holds 49.37% of the company's shares, indicating significant state ownership[24]. - The company has completed a share reduction plan, having reduced 4,204,200 shares, accounting for 0.69% of the total share capital[117]. - The company reported a total of RMB 399,359,221.43 in surplus reserves as of the end of the reporting period[21]. Accounting Policies and Practices - The company has implemented a method for determining expected credit losses for various financial assets, including accounts receivable and notes receivable, based on the entire duration of expected credit losses[42]. - The company assesses expected credit losses for accounts receivable using overdue days and default loss rate tables, adjusting based on forward-looking estimates[42]. - The company capitalizes borrowing costs directly attributable to the acquisition or production of qualifying assets, ceasing capitalization once the asset is ready for use or sale[50]. - The company uses a straight-line depreciation method for buildings with a useful life of 30 years and a depreciation rate of 3.2%[52]. - The company recognizes long-term equity investments based on the initial investment cost determined by the equity of the merged entity in the consolidated financial statements[35]. Legal and Audit Information - The semi-annual report for 2023 has not been audited[128]. - The company has not reported any major litigation or arbitration matters during the reporting period[118].

股票代码：600195 股票简称：中牧股份 编号：临 2023-019 中牧实业股份有限公司 关于召开 2022 年度暨 2023 年第一季度 业绩说明会的公告 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法律责任。 重要内容提示： 中牧实业股份有限公司（以下简称"公司"）已于 2023 年 4 月 22 日、2023 年 4 月 29 日在上海证券交易所网站（http://www.sse.com.cn）发布公司 2022 年年度报告及 2023 年第一季度报告，为便于广大投资者更全面深入地了解公司 经营成果、财务状况等方面的情况，公司计划于 2023 年 5 月 30 日下午 15:00- 16:00 以自行视频录播结合网络在线互动的方式召开业绩说明会，就投资者普遍 关心的问题进行沟通交流。 一、业绩说明会类型 本次投资者说明会以自行视频录播结合网络互动形式召开，公司将针对 2022 年度、2023 年第一季度的经营成果及财务指标的具体情况与投资者进行互 动交流和沟通，在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、业绩 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,061,645,947.59, representing a decrease of 5.48% compared to the same period last year[7] - Net profit attributable to shareholders of the listed company was CNY 140,498,808.83, an increase of 4.76% year-on-year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 84,817,539.02, down 36.57% from the previous year[7] - Total operating revenue for Q1 2023 was ¥1,061,645,947.59, a decrease of 5.5% compared to ¥1,123,215,357.53 in Q1 2022[33] - Net profit for Q1 2023 was ¥133,360,645.64, a decrease of 5.3% from ¥140,534,020.35 in Q1 2022[35] - The company’s total profit for Q1 2023 was ¥157,690,993.01, down from ¥166,075,037.97 in Q1 2022, reflecting a decrease of 2.3%[35] Earnings and Shareholder Returns - The basic earnings per share for Q1 2023 was CNY 0.1376, an increase of 4.24% year-on-year[7] - Earnings per share for Q1 2023 was ¥0.1376, compared to ¥0.1320 in Q1 2022, reflecting a 4.24% increase[35] - The company distributed dividends and interest payments totaling $3,596,598.41, up from $1,198,509.78 in the previous period[41] Assets and Liabilities - The total assets at the end of Q1 2023 were CNY 8,125,118,882.04, reflecting a growth of 2.36% compared to the end of the previous year[10] - Total assets reached CNY 8,125,118,882.04, compared to CNY 7,937,406,197.86, reflecting an increase of approximately 2.4%[30] - Total liabilities amounted to CNY 1,659,091,948.02, up from CNY 1,595,875,599.84, which is an increase of about 3.9%[28] - Owner's equity totaled CNY 6,466,026,934.02, compared to CNY 6,341,530,598.02, showing a growth of approximately 2.0%[30] Cash Flow - The net cash flow from operating activities was negative at CNY -154,454,416.26, indicating a significant cash outflow[7] - Cash flow from operating activities showed a net outflow of ¥154,454,416.26 in Q1 2023, an improvement from a net outflow of ¥261,001,755.79 in Q1 2022[39] - The company’s total cash inflow from operating activities was ¥820,183,977.47 in Q1 2023, compared to ¥789,815,432.07 in Q1 2022, indicating a growth of 3.9%[39] - The net cash flow from financing activities was $94,385,179.37, an increase from $30,445,666.79 in the previous period[41] - The total cash outflow from financing activities was $142,014,820.63, significantly higher than $64,546,434.78 in the previous period[41] - The net increase in cash and cash equivalents was a decrease of $58,424,716.82, compared to a decrease of $342,936,872.22 in the previous period[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 25,267[14] Non-Recurring Items - The company reported non-recurring gains of CNY 55,681,269.81 after tax, primarily from asset disposals and other non-operating income[10] - Other comprehensive income after tax for Q1 2023 was -¥4,452,712.76, a significant decline from ¥22,901,742.47 in Q1 2022[35] Research and Development - The company reported a decrease in research and development expenses to ¥19,300,988.40 in Q1 2023 from ¥23,852,394.20 in Q1 2022, a reduction of 19.0%[33] Cash Management - Cash and cash equivalents decreased to CNY 816,740,030.38 from CNY 875,164,747.20, a decline of about 6.6%[22] - Cash and cash equivalents at the end of the period totaled $816,740,030.38, down from $875,164,747.20 at the beginning of the period[41] - The company repaid debts amounting to $138,418,222.22, compared to $63,180,000.00 in the previous period[41] - The company received cash from borrowings amounting to $236,400,000.00, compared to $94,992,101.57 in the previous period[41] - The cash flow from financing activities was primarily driven by increased borrowings and debt repayments[41] Accounting Standards - The company did not apply new accounting standards or interpretations for the current financial year[41]

Financial Performance - The company's total revenue for 2022 was approximately ¥5.89 billion, representing an increase of 11.13% compared to ¥5.30 billion in 2021[5]. - The net profit attributable to shareholders for 2022 was approximately ¥550 million, a year-on-year increase of 7.05% from ¥514 million in 2021[6]. - The gross profit margin for the agricultural sector was 21.12%, with a revenue increase of 11.62% year-on-year[3]. - The revenue from biological products decreased by 15.14% year-on-year, with a gross profit margin of 49.09%[3]. - The company's cash flow from operating activities showed a net outflow of approximately ¥222 million, a significant decrease from a net inflow of ¥383 million in 2021[6]. - The total assets of the company at the end of 2022 were approximately ¥7.94 billion, reflecting a 6.73% increase from ¥7.44 billion at the end of 2021[5]. - The company reported a basic earnings per share of ¥0.5401 for 2022, up 6.74% from ¥0.5060 in 2021[6]. - The revenue from direct sales was approximately ¥3.65 billion, with a year-on-year increase of 8.25%[3]. - The revenue from trade increased significantly by 44.42% year-on-year, although the gross profit margin was only 2.83%[3]. - The company’s net assets attributable to shareholders increased by 7.78% to approximately ¥5.30 billion at the end of 2022[5]. - The total profit for the period was CNY 627 million, with a net profit of CNY 550 million, resulting in a basic earnings per share of CNY 0.5401[37]. Non-Recurring Gains and Losses - Non-recurring gains from the disposal of non-current assets amounted to ¥171,587,464.35 in 2022, compared to a loss of ¥71,699.11 in 2021[10]. - The total non-recurring gains for the company in 2022 reached ¥150,210,136.88, significantly higher than ¥3,054,538.39 in 2021[13]. - The company reported a significant increase in non-recurring gains compared to previous years, indicating improved financial performance in 2022[13]. - The company has maintained a consistent approach to recognizing non-recurring gains, aligning with regulatory definitions[13]. - The total amount of non-recurring losses from the disposal of subsidiaries under common control was recorded as -¥4,724,211.87 in 2020[10]. Research and Development - Research and development expenses amounted to CNY 143.27 million, representing 3.16% of operating revenue, with 23.12% of R&D expenses capitalized[69]. - The number of R&D personnel is 437, accounting for 11% of the total workforce, with a significant portion holding advanced degrees[69]. - The company has established a new collaborative R&D mechanism to enhance technological innovation capabilities and foster talent[35]. - The company is actively developing new vaccines, including a bivalent synthetic peptide vaccine for foot-and-mouth disease, which has received production approval during the reporting period[122]. - The company has introduced a new inactivated vaccine for pseudorabies in pigs, which has also received new drug certification during the reporting period[122]. - The company is expanding its product line to include diagnostic kits for detecting foot-and-mouth disease virus antibodies in pigs, which have also received new drug certification[122]. - The company introduced three new veterinary drug registration certificates during the reporting period, indicating ongoing product development[104]. Market and Industry Trends - The overall producer price level for agricultural products increased by 0.4% in 2022, with a notable recovery in the latter half of the year[30]. - The total national pig production reached 69.995 million heads, an increase of 4.3% year-on-year, indicating a stable growth in the livestock sector[28]. - The production of poultry meat and eggs showed steady growth, with poultry output increasing by 2.5% year-on-year[30]. - The livestock industry in China is transitioning to modern practices, with a focus on increasing production efficiency and quality by 2025[160]. - The market demand for animal protein is expected to grow, with increasing consumption of meat, eggs, and dairy products[161]. - The veterinary drug industry continues to grow rapidly, with new regulations such as the revised Veterinary Drug GMP implemented on June 1, 2022, aimed at enhancing product quality and safety[118]. Operational Strategies - The company continues to focus on optimizing its asset management and investment strategies to enhance overall profitability[13]. - The company is actively pursuing new customer development and strategic alliances with major clients to strengthen its market position[31]. - The company has implemented a "one customer, one strategy" approach in its marketing efforts, ensuring stable deliveries to group clients[31]. - The company is committed to maintaining a competitive market order and improving the quality of veterinary products in response to regulatory changes[118]. - The company aims to enhance its technological capabilities and resource utilization efficiency to drive industry modernization[161]. - The company is focusing on high-quality development in the veterinary drug sector, aligning with national policies for agricultural modernization and rural revitalization[118]. Financial Position and Cash Flow - The company's cash and cash equivalents decreased to ¥875,164,747.20 from ¥1,230,032,968.52, representing a decline of approximately 29% year-over-year[177]. - Accounts receivable increased significantly to ¥844,045,372.60 from ¥542,570,625.19, marking a growth of about 55.5%[177]. - Inventory rose to ¥1,062,402,941.31, up from ¥879,086,482.25, indicating an increase of approximately 20.8%[177]. - Total current assets amounted to ¥3,288,322,240.96, compared to ¥2,839,932,650.33 in the previous year, reflecting a growth of about 15.8%[177]. - The company's total comprehensive income for the year was ¥504,002,250.36, down from ¥627,353,436.30, a decrease of approximately 19.6%[182]. - Long-term equity investments decreased to ¥794,409,224.36 from ¥915,834,458.41, a decline of approximately 13.2%[177]. - The net cash flow from operating activities decreased by 605 million RMB year-on-year, primarily due to increased cash payments for goods as trade revenue expanded and raw material prices rose[91]. Corporate Governance - The company has adhered to the corporate governance requirements set forth by the Company Law and the China Securities Regulatory Commission[172]. - The company has not engaged in insider trading activities by its directors, supervisors, or senior management prior to sensitive information disclosures[172].

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,528,951,812.86, representing a year-on-year increase of 15.71%[7] - The net profit attributable to shareholders for the same period was ¥143,336,394.00, a decrease of 3.00% compared to the previous year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥107,773,243.33, down 26.39% year-on-year[7] - The basic earnings per share for Q3 2022 was ¥0.1404, reflecting a decrease of 3.51%[10] - The diluted earnings per share for the same period was also ¥0.1404, with a decrease of 3.51%[10] - The weighted average return on equity was 1.74%, a decrease of 1.34 percentage points compared to the previous year[10] - Net profit for the third quarter of 2022 was ¥410,616,145.90, compared to ¥522,907,828.02 in the same quarter of 2021, reflecting a decrease of approximately 21.4%[37] - The total comprehensive income for the third quarter of 2022 was ¥455,100,926.71, compared to ¥527,924,520.48 in the same quarter of 2021, indicating a decline of approximately 13.8%[41] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,072,279,641.65, an increase of 8.55% from the previous year[10] - The equity attributable to shareholders at the end of the reporting period was ¥5,249,161,364.80, up 6.83% year-on-year[10] - Total liabilities reached RMB 1,807,926,111.28, up from RMB 1,562,752,238.50, which is an increase of approximately 15.7%[32] - The company's equity increased to RMB 6,264,353,530.37 from RMB 5,873,853,182.78, reflecting a growth of about 6.6%[32] - The total assets and shareholders' equity amounted to ¥8,072,279,641.65 and ¥6,264,353,530.37 respectively, showing an increase from ¥7,436,605,421.28 and ¥5,873,853,182.78 in the previous year[34] Cash Flow - The net cash flow from operating activities was -$329.69 million, a significant decline compared to $10.48 million in the previous period[43] - Total cash inflow from operating activities amounted to $3.58 billion, while cash outflow was $3.91 billion, resulting in a net cash flow deficit[43] - Cash inflow from financing activities reached $398.44 million, primarily driven by $272.41 million in borrowed funds[45] - Cash outflow for financing activities totaled $342.37 million, leading to a net cash flow of $56.07 million from financing activities[45] - The company reported a cash and cash equivalents balance of $718.87 million at the end of the period, down from $1.20 billion at the beginning[45] Operating Costs and Expenses - Total operating revenue for the first three quarters of 2022 reached ¥4,125,458,242.24, an increase from ¥3,905,489,465.23 in the same period of 2021, representing a growth of approximately 5.6%[34] - Total operating costs for the first three quarters of 2022 were ¥3,787,650,893.48, up from ¥3,453,125,606.14 in 2021, indicating an increase of about 9.7%[34] - Research and development expenses for the first three quarters of 2022 were ¥80,494,632.44, down from ¥93,814,952.29 in 2021, a decrease of about 14.2%[34] - The company reported an investment income of ¥79,440,998.92 for the first three quarters of 2022, compared to ¥145,961,683.62 in the same period of 2021, a decline of approximately 45.5%[34] - The company reported a financial expense of -¥7,935,554.07 in the first three quarters of 2022, compared to -¥2,529,638.14 in the same period of 2021, indicating a significant increase in financial costs[34] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,147[19] - The company's cash and cash equivalents decreased to RMB 733,483,087.45 from RMB 1,230,032,968.52, representing a decline of approximately 40.5%[25] - Accounts receivable increased significantly to RMB 1,067,283,207.46 from RMB 542,570,625.19, marking an increase of around 96.5%[25] - Inventory levels rose to RMB 903,446,319.21 compared to RMB 879,086,482.25, showing a slight increase of about 2.7%[29] - The retained earnings increased to RMB 3,188,170,336.72 from RMB 2,942,103,018.19, representing a growth of approximately 8.4%[32]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[16]. - The net profit attributable to shareholders reached RMB 300 million, up 20% compared to the same period last year[16]. - Future guidance estimates a revenue growth of 10-15% for the full year 2022[16]. - The company's operating revenue for the first half of the year was ¥2,596,506,429.38, representing a year-on-year increase of 0.48% compared to ¥2,584,126,942.38 in the same period last year[21]. - The net profit attributable to shareholders decreased by 18.86% year-on-year, amounting to ¥257,108,118.47, primarily due to a significant reduction in investment income from joint ventures and a decline in gross profit from the main business due to a sluggish livestock market[22]. - The net cash flow from operating activities decreased by 62.17% year-on-year, resulting in a negative cash flow of ¥405,281,593.71, attributed to an increase in sales amounts not yet settled[21]. - Basic earnings per share decreased by 18.94% to ¥0.2529, reflecting the decline in net profit attributable to shareholders[22]. - The total comprehensive income for the first half of 2022 was ¥302,523,918.50, compared to ¥361,988,151.17 in the same period of 2021, representing a decrease of 16.38%[141]. Market Expansion and Strategy - User data indicates a growth in active users by 25%, reaching a total of 5 million active users[16]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2023[16]. - New product launches are expected to contribute an additional RMB 200 million in revenue for the second half of 2022[16]. - The company plans to focus on improving cash flow management and optimizing product offerings in response to market challenges[22]. - The company has expanded its product strategy to address rising feed raw material prices, launching new products to meet market demand[41]. Research and Development - The company is investing RMB 50 million in R&D for new technologies aimed at improving product efficiency[16]. - The company emphasizes innovation in its core product lines, focusing on "medicine, feed, and vaccines," which has significantly enhanced its independent innovation capabilities[33]. - The company is engaged in the research and development of new feed varieties and technologies, indicating a focus on innovation[176]. Financial Position and Assets - The company has maintained a strong cash position with cash reserves of RMB 500 million as of June 30, 2022[16]. - The total assets at the end of the reporting period were ¥7,929,345,719.44, an increase of 9.65% from the previous year-end[21]. - The net assets attributable to shareholders increased by 8.97% to ¥5,235,782,363.26 compared to the previous year-end[21]. - Total current assets increased to CNY 3,264,196,886.43 from CNY 2,839,932,650.33, representing a growth of approximately 15%[124]. - Cash and cash equivalents decreased to CNY 783,883,054.30 from CNY 1,230,032,968.52, representing a decline of approximately 36%[124]. Risks and Challenges - The management highlighted potential risks including regulatory changes and market competition[16]. - The company is addressing risks related to major animal epidemics and market competition by enhancing sales strategies and providing personalized technical services to clients[54]. - The company has identified risks from abnormal fluctuations in exchange rates, which could impact procurement timing and profit margins, and plans to strengthen market tracking and cost control[57]. Corporate Governance and Shareholder Relations - The company did not distribute dividends or increase capital reserves in the latest financial period, maintaining a conservative approach to profit allocation[64]. - The company has implemented stock option incentive plans, adjusting the exercise price and the list of incentive targets in 2022[65]. - The company held two shareholder meetings in 2022, utilizing both on-site and online voting methods[62]. - The company has committed to strictly reduce related party transactions and ensure that any unavoidable transactions are conducted fairly and transparently[83]. Environmental and Social Responsibility - Two subsidiaries, Zhongmu Anda and Inner Mongolia Zhongmu, are classified as key pollutant discharge units by environmental protection authorities, with total pollutant emissions of 2.418 tons (COD) and 0.154 tons (ammonia nitrogen) respectively[69]. - Inner Mongolia Zhongmu has signed a wastewater treatment cooperation agreement, ensuring that wastewater meets the "Urban Wastewater Reuse Industrial Water Quality Standards" after treatment[70]. - The company invested CNY 378,000 in poverty alleviation and rural revitalization efforts, including donations of agricultural machinery and maintenance of local farms[80].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,123,215,357.53, a decrease of 12.93% compared to the same period last year[5] - Net profit attributable to shareholders was ¥134,110,195.38, down 17.06% year-on-year[5] - Basic earnings per share were ¥0.1320, reflecting a decrease of 17.09% year-on-year[5] - Total operating revenue for Q1 2022 was approximately $1.12 billion, a decrease of 13% compared to $1.29 billion in Q1 2021[30] - Net profit for Q1 2022 was approximately $140.53 million, a decrease of 22.1% from $180.53 million in Q1 2021[32] Cash Flow - The net cash flow from operating activities was -¥261,001,755.79, an increase of 15.71% compared to the previous year[5] - Cash flow from operating activities for Q1 2022 was negative at approximately -$261 million, compared to -$225 million in Q1 2021[36] - Net cash flow from investing activities was -112,522,587.31, compared to -26,822,088.85 in the previous period[38] - Cash inflow from financing activities totaled 94,992,101.57, up from 30,725,246.20 in the prior period[38] - Net cash flow from financing activities was 30,445,666.79, compared to 10,125,733.71 in the last period[38] - The net increase in cash and cash equivalents was -342,936,872.22, compared to -242,246,762.06 in the previous period[38] - The ending balance of cash and cash equivalents was 861,785,216.50, compared to 770,073,268.47 at the end of the previous period[38] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,770,576,517.08, an increase of 4.49% from the end of the previous year[5] - Total liabilities amounted to CNY 1,732,227,637.18, up from CNY 1,562,752,238.50, indicating an increase of approximately 10.9%[26] - The company's total equity increased to CNY 6,038,348,879.90 from CNY 5,873,853,182.78, showing a growth of about 2.8%[26] - As of March 31, 2022, total current assets amounted to CNY 3,090,088,287.82, an increase from CNY 2,839,932,650.33 in the previous year[21] - Total non-current assets reached CNY 4,680,488,229.26, compared to CNY 4,596,672,770.95 in the previous year[24] Shareholder Equity - Shareholders' equity attributable to shareholders was ¥5,071,376,309.04, up 3.21% compared to the previous year[8] - The company’s retained earnings grew to CNY 3,076,213,213.57 from CNY 2,942,103,018.19, an increase of approximately 4.6%[26] Expenses - Research and development expenses for Q1 2022 were approximately $23.85 million, slightly down from $24.89 million in Q1 2021[30] - Sales expenses for Q1 2022 decreased to approximately $59.65 million from $91.53 million in Q1 2021, a reduction of 34.7%[30] - Management expenses for Q1 2022 were approximately $63.30 million, down from $70.21 million in Q1 2021[30] Other Financial Metrics - The weighted average return on net assets was 2.26%, a decrease of 1.28 percentage points year-on-year[5] - Other income rose by 292.68%, mainly due to increased government subsidies related to R&D projects[12] - The company reported a significant increase in prepayments by 187.64%, primarily due to increased supplier procurement prepayments[12] - Short-term borrowings increased by 44.38%, mainly due to increased short-term bank credit loans[12] - Accounts receivable rose significantly to CNY 897,551,899.54, up from CNY 542,570,625.19, indicating a growth of approximately 65.5%[21] - Inventory increased to CNY 935,473,713.35 from CNY 879,086,482.25, reflecting a growth of about 6.4%[21] - The company reported a significant increase in other receivables, which rose to CNY 44,922,303.54 from CNY 34,358,964.06, a growth of approximately 30.7%[21] - Short-term borrowings increased to CNY 166,039,461.74 from CNY 115,000,000.00, reflecting a growth of about 44.5%[24] - Investment income for Q1 2022 was approximately $25.20 million, a decrease from $65.80 million in Q1 2021[30] - Other comprehensive income after tax for Q1 2022 was approximately $22.90 million, significantly higher than $6.86 million in Q1 2021[32] Accounting Standards - The company has adopted new accounting standards starting from 2022[38]

Financial Performance - The company's operating revenue for 2021 was CNY 5,301,571,718.27, an increase of 6.06% compared to 2020[17]. - Net profit attributable to shareholders for 2021 was CNY 513,861,040.88, reflecting a year-on-year increase of 22.22%[17]. - The net cash flow from operating activities decreased by 42.50% to CNY 382,997,571.22 in 2021[17]. - Basic earnings per share for 2021 rose to CNY 0.5060, a 21.99% increase from the previous year[17]. - The company's total assets at the end of 2021 were CNY 7,436,605,421.28, up 9.92% from 2020[17]. - The weighted average return on equity increased to 10.84%, up 1.23 percentage points from 2020[17]. - The company's operating revenue for the reporting period was 5.302 billion RMB, with a net profit of 587 million RMB, and a net profit attributable to the parent company of 514 million RMB, resulting in a basic earnings per share of 0.5060 RMB[41]. - Total costs and expenses amounted to 4.795 billion RMB, representing 90.44% of the operating revenue[41]. Dividend Distribution - The company plans to distribute a cash dividend of 1.52 RMB per 10 shares, totaling 154,372,811.35 RMB based on the total share capital of 1,015,610,601 shares as of the end of 2021[4]. - The company implemented a cash dividend policy, distributing a total of 126,951,325.13 CNY in cash dividends, which is approximately 30.20% of the net profit attributable to shareholders for 2020[149]. Audit and Compliance - The company received a standard unqualified audit report from Zhongshun Yatai Accounting Firm, ensuring the authenticity and completeness of the financial report[4]. - There were no non-operating fund occupations by controlling shareholders or their related parties during the reporting period[4]. - The company has not violated decision-making procedures for providing guarantees to external parties[4]. - The company has established a comprehensive internal control system aimed at risk management and compliance, with no significant internal control deficiencies reported for the year 2021[153]. - The company maintained a standard unqualified opinion in its internal control audit report for the year 2021[154]. Market Position and Strategy - The company maintained a leading market share in government procurement for foot-and-mouth disease and avian influenza vaccines, ensuring stable market positioning[27]. - The company expanded its customer base significantly, with a focus on large clients in the feed sector, leading to major breakthroughs in customer development[28]. - The company is positioned as a key player in China's animal epidemic prevention system, actively participating in national disease control efforts[37]. - The company is adapting to regulatory changes, including the new veterinary GMP requirements, to enhance industry concentration and promote transformation and upgrading[42]. - The company is focused on reducing diarrhea rates in piglets through the development of antibiotic-free feed[75]. Research and Development - The company has implemented an innovative R&D mechanism, receiving over 100 research applications through its open research project fund, enhancing its R&D capabilities[37]. - The company's R&D investment amounted to 20,699.72 million RMB, representing 13.09% of operating revenue and 3.93% of net assets[84]. - Major R&D projects include the development of vaccines with investments of 396.72 million RMB for foot-and-mouth disease and 293.37 million RMB for porcine circovirus vaccines, showing a year-on-year increase of 87.89%[87]. - The company is actively engaged in the research and development of various new veterinary vaccines and diagnostic kits[75]. Environmental Responsibility - The company’s environmental protection facilities are fully operational, with all wastewater and emissions meeting regulatory standards[159]. - The total COD emissions from the subsidiary Zhongmu Anda were reported at 5.88 tons, with a concentration of 233.4 mg/L, well below the standard of 500 mg/L[155]. - The company has signed a wastewater treatment agreement with a treatment company to ensure compliance with the fermentation pharmaceutical industry wastewater discharge standards[159]. - The company has received multiple environmental impact assessment approvals for various projects, including a significant project approved in September 2021[163]. - The company has implemented a pollution prevention and control system, with all solid waste disposed of according to regulations[159]. Corporate Governance - The total pre-tax compensation for the board members and senior management amounted to 4,758,380 CNY[119]. - The company has established a remuneration and assessment committee to oversee the remuneration decisions for directors and senior management[127]. - The company’s board of directors and supervisory board remuneration is approved by the shareholders' meeting and determined based on national regulations and industry standards[127]. - The company has a strategic committee that includes members responsible for overseeing long-term strategic planning[136]. Investment and Expansion - The company plans to invest CNY 454.1 million in the construction of the Nanjing Biomedical Industrial Park project[131]. - A capital increase of CNY 250 million will be made to the wholly-owned subsidiary Inner Mongolia Zhongmu to enhance its profitability and core competitiveness[131]. - The company plans to enhance its market presence and enhance product offerings in response to increased demand in the pharmaceutical sector[46]. - The company is set to establish a wholly-owned subsidiary with an investment of CNY 100 million in Shandong Province[131]. Employee and Workforce Management - The company reported a total of 4,197 employees, with 2,011 in the parent company and 2,186 in major subsidiaries[142]. - The company has established a comprehensive training system covering all levels of employees to enhance professional skills and meet human resource needs[144]. - The company has a performance-based compensation policy aimed at maximizing the value of human resource investments[143]. - The company has a total of 343 employees with a master's degree or higher, indicating a strong educational background among its workforce[142].

Revenue and Profit - Revenue for the third quarter was 1,321,362,522.85 yuan, a decrease of 3.34% compared to the same period last year[6] - Net profit attributable to shareholders of the listed company for the third quarter was 147,772,189.07 yuan, an increase of 11.13% year-on-year[6] - Total operating revenue for the first three quarters of 2021 was 3,905,489,465.23 RMB, an increase from 3,649,512,937.17 RMB in the same period of 2020[30] - Net profit for the first three quarters of 2021 was 522,907,828.02 RMB, slightly up from 515,065,392.70 RMB in the same period of 2020[33] - Total comprehensive income for the first three quarters of 2021 was 527,924,520.48 RMB, up from 502,872,033.89 RMB in the same period of 2020[33] - Basic earnings per share for the first three quarters of 2021 were 0.4575 RMB, compared to 0.4777 RMB in the same period of 2020[33] Assets and Liabilities - Total assets as of the end of the reporting period were 7,229,924,218.42 yuan, an increase of 6.86% compared to the end of the previous year[10] - Total assets increased to RMB 7,229,924,218.42 in Q3 2021, up from RMB 6,765,641,842.11 at the end of 2020[24] - Current assets totaled RMB 2,967,286,290.23, compared to RMB 2,743,622,934.95 at the end of 2020[20] - Long-term equity investments grew to RMB 868,636,877.18, up from RMB 800,591,062.94 at the end of 2020[24] - Fixed assets increased to RMB 2,092,267,562.26, compared to RMB 1,619,097,376.13 at the end of 2020[24] - Total liabilities rose to RMB 1,456,412,694.74, up from RMB 1,396,384,154.45 at the end of 2020[26] - Shareholders' equity increased to RMB 5,773,511,523.68, compared to RMB 5,369,257,687.66 at the end of 2020[26] - Accounts receivable surged to RMB 879,194,779.76, up from RMB 403,849,655.93 at the end of 2020[20] - Inventory grew to RMB 785,846,266.07, compared to RMB 708,494,164.59 at the end of 2020[20] - Short-term borrowings increased to RMB 115,000,000.00, up from RMB 90,000,000.00 at the end of 2020[24] - Retained earnings rose to RMB 2,928,837,084.12, compared to RMB 2,591,149,249.48 at the end of 2020[26] - Total assets stood at 6.77 billion yuan, with current assets accounting for 2.74 billion yuan and non-current assets at 4.02 billion yuan[41][43] - Total liabilities were 1.26 billion yuan, with current liabilities making up 1.19 billion yuan and non-current liabilities at 66.30 million yuan[43] - The company held 1.05 billion yuan in monetary funds and 300 million yuan in trading financial assets as of the beginning of 2021[41] - Accounts receivable amounted to 403.85 million yuan, while inventory stood at 708.49 million yuan[41] - Fixed assets totaled 1.62 billion yuan, with intangible assets at 671.09 million yuan[43] - Long-term equity investments were valued at 800.59 million yuan[41] - Total liabilities amount to 1,396,384,154.45[46] - Total non-current liabilities are 203,778,271.84[46] - Deferred income is 40,484,618.14[46] - Deferred tax liabilities stand at 16,660,014.95[46] - Total equity attributable to the parent company is 4,482,430,509.67[46] - Minority interests amount to 886,827,177.99[46] - Total equity is 5,369,257,687.66[46] - Total liabilities and equity are 6,765,641,842.11[46] Cash Flow - Net cash flow from operating activities for the period from the beginning of the year to the end of the reporting period was 10,475,214.83 yuan, a decrease of 94.95% year-on-year[6] - The company's operating cash flow decreased significantly due to increased cash expenses, bid deposits, and unit receivables compared to the same period last year[12] - Cash received from sales of goods and services for the first three quarters of 2021 was 3,442,578,124.69 RMB, up from 3,151,087,004.07 RMB in the same period of 2020[35] - Cash paid for goods and services for the first three quarters of 2021 was 2,499,252,364.43 RMB, compared to 2,205,657,370.38 RMB in the same period of 2020[35] - Total cash inflows from operating activities for the first three quarters of 2021 were 3,553,340,589.68 RMB, up from 3,249,562,509.10 RMB in the same period of 2020[35] - Operating cash flow decreased significantly to 10.48 million yuan from 207.42 million yuan in the previous period[38] - Investment cash flow turned positive at 75.80 million yuan, compared to a negative 181.36 million yuan previously[38] - Financing cash flow was negative at 92.91 million yuan, down from a positive 2.30 million yuan[38] - Net increase in cash and cash equivalents was negative 5.30 million yuan, compared to a positive 29.48 million yuan previously[41] Shareholders and Equity - Weighted average return on equity (ROE) for the third quarter was 3.08%, an increase of 0.15 percentage points compared to the same period last year[10] - Non-recurring gains and losses for the third quarter amounted to 1,353,828.24 yuan[12] - The total number of ordinary shareholders at the end of the reporting period was 47,650[13] - The largest shareholder, China Animal Husbandry Group Co., Ltd., held 504,094,163 shares, accounting for 49.63% of the total shares[13] - The National Social Security Fund 502 Portfolio held 11,866,658 shares, accounting for 1.17% of the total shares[13] Operating Costs and Expenses - Operating costs for the first three quarters of 2021 were 3,453,125,606.14 RMB, compared to 3,356,119,288.34 RMB in the same period of 2020[30] - R&D expenses for the first three quarters of 2021 decreased to 93,814,952.29 RMB from 108,874,818.11 RMB in the same period of 2020[30] - Investment income for the first three quarters of 2021 was 145,961,683.62 RMB, down from 321,912,190.16 RMB in the same period of 2020[30]