Financial Performance - The company's operating revenue for Q1 2022 was ¥3,031,758,910.32, representing a year-on-year increase of 14.14%[4] - The net profit attributable to shareholders decreased by 29.30% to ¥312,536,640.64 compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 36.09% to ¥264,745,470.60[4] - Basic earnings per share decreased by 29.30% to ¥0.3793[4] - Diluted earnings per share also decreased by 29.36% to ¥0.3789[5] - The net profit for Q1 2022 was CNY 316,921,262.65, a decrease of 29.4% compared to CNY 449,243,533.21 in Q1 2021[19] - The total operating profit for Q1 2022 was CNY 387,232,849.54, down 26.7% from CNY 528,127,223.26 in the same period last year[19] - The total comprehensive income attributable to the parent company was CNY 312,536,640.64, a decrease of 29.2% from CNY 442,051,717.10 in Q1 2021[20] - The net profit margin for Q1 2022 was approximately 11.14%, compared to 10.00% in Q1 2021, indicating improved profitability[18] Cash Flow - The net cash flow from operating activities increased by 29.70% to -¥312,503,084.88, primarily due to increased cash receipts from sales of goods and services[8] - Cash inflow from operating activities totaled CNY 3,166,536,867.13, compared to CNY 2,674,171,849.76 in Q1 2021, reflecting a growth of 18.4%[21] - Cash outflow from operating activities was CNY 3,479,039,952.01, an increase from CNY 3,118,684,805.13 in Q1 2021[21] - The cash flow from operating activities showed a net outflow of CNY -312,503,084.88, an improvement from CNY -444,512,955.37 in Q1 2021[21] - Cash inflow from financing activities was CNY 1,548,800,000.00, up from CNY 1,029,246,000.00 in Q1 2021, marking an increase of approximately 50.5%[31] - The total cash outflow from financing activities was CNY 1,916,574,923.85, compared to CNY 1,443,106,975.94 in the same quarter of the previous year, representing an increase of approximately 32.8%[31] Assets and Liabilities - The total assets at the end of the reporting period were ¥14,018,807,642.89, an increase of 4.26% from the end of the previous year[5] - The total liabilities increased to ¥6,474,485,057.13, up from ¥6,244,622,116.15, reflecting a rise of 3.68%[16] - The total equity attributable to shareholders rose to ¥7,192,973,229.21, an increase of 4.94% from ¥6,854,060,616.17[16] - Current assets totaled ¥6,705,716,291.88, an increase from ¥5,956,320,671.58, marking a growth of about 12.5%[24] - Total assets increased to ¥10,831,135,646.35, up from ¥9,973,385,406.85 year-over-year, representing an increase of approximately 8.6%[24] Operational Highlights - The company achieved operating revenue of 3.032 billion yuan in Q1 2022, representing a year-on-year growth of 14.14%[12] - The total operating costs for Q1 2022 were ¥2,694,590,107.47, up from ¥2,151,118,275.01 in Q1 2021, reflecting a growth of 25.38%[18] - Employee compensation decreased by 62.09% compared to the end of the previous year, primarily due to the distribution of year-end bonuses in Q1 2022[9] - Financial expenses increased by 326.23% year-on-year, mainly due to increased interest expenses and exchange losses[9] - Interest income rose by 118.70% year-on-year, attributed to higher interest income from bank deposits[9] - The company received government subsidies, leading to a 90.30% increase in other income compared to the same period last year[9] - Export revenue grew by 16.37% year-on-year, supported by the company's six overseas divisions adapting to local markets[12] - The company is focusing on industrial clients and has seen over 20% growth in microbial and plant nutrition sectors[12] Inventory and Receivables - Accounts receivable increased by 32.61% due to increased sales[8] - Accounts receivable increased to ¥1,489,810,972.16, up 32.66% from ¥1,123,486,481.32 in the previous year[14] - Inventory levels rose to ¥2,443,012,591.20, an increase of 8.55% compared to ¥2,251,008,149.60 in the previous year[14] - The company reported a decrease in inventory to ¥627,368,285.06 from ¥585,602,436.88, a decline of about 7.1%[24] Research and Development - The company's R&D expenses for Q1 2022 were ¥119,850,888.67, which is a 15.99% increase from ¥103,354,261.02 in Q1 2021[18] - Research and development expenses for Q1 2022 were ¥63,232,524.16, compared to ¥59,193,947.68 in Q1 2021, reflecting an increase of about 6.9%[26] Shareholder Actions - The company plans to proceed with a non-public offering of shares as approved by the China Securities Regulatory Commission[13]

Financial Performance - The company's operating revenue for 2021 was ¥10,675,333,007.67, representing a 19.50% increase compared to ¥8,933,035,777.74 in 2020[17]. - The net profit attributable to shareholders for 2021 was ¥1,308,538,068.26, a decrease of 4.59% from ¥1,371,512,559.64 in 2020[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,060,024,562.13, a decrease of 13.14% compared to CNY 1,220,348,877.69 in 2020[19]. - The net cash flow from operating activities was CNY 1,318,897,969.48, down 29.44% from CNY 1,869,215,941.06 in the previous year[19]. - The company's net assets attributable to shareholders increased by 16.37% to CNY 6,854,060,616.17 from CNY 5,889,923,351.98 at the end of 2020[19]. - Total assets rose by 24.41% to CNY 13,445,647,466.86 compared to CNY 10,807,179,510.18 at the end of 2020[19]. - Basic earnings per share decreased by 4.59% to CNY 1.5879 from CNY 1.6643 in 2020[20]. - The weighted average return on net assets was 20.54%, down 4.61 percentage points from 25.15% in the previous year[20]. - The company achieved a revenue of 10.675 billion CNY, a year-on-year increase of 19.50%, while net profit attributable to shareholders decreased by 4.59% to 1.309 billion CNY[27]. - Domestic market revenue reached 7.785 billion CNY, growing by 22.31%, while international market revenue was 2.822 billion CNY, up by 12.01%[27]. Dividend and Profit Distribution - As of the end of 2021, the company had undistributed profits amounting to ¥5,269,804,438.51, with a proposed cash dividend of ¥5 per 10 shares, totaling an expected distribution of ¥416,346,471.50[4]. - The company has maintained a consistent dividend policy, considering long-term shareholder structure and demands[4]. - The company distributed cash dividends of 4.9473 yuan per 10 shares, totaling 412,041,294.33 yuan based on a total share capital of 832,860,943 shares[122]. - The company has established a three-year shareholder dividend return plan for 2021-2023, as detailed in the announcement released on July 23, 2021[121]. Operational Efficiency and Strategy - The company aims to implement its "14th Five-Year" strategic plan to navigate challenges such as the pandemic and fluctuations in commodity prices[26]. - The company implemented a digital transformation strategy, including the establishment of a digital construction committee and the integration of marketing digitalization and industrial big data systems[29]. - The company is committed to innovation-driven growth and international development to navigate economic challenges and industry competition[74]. - The company is focusing on major technological innovations and new product development, with a performance-based compensation system linked to these initiatives[119]. - The company plans to achieve a revenue target of RMB 20 billion by 2025, focusing on internationalization and technological innovation[72]. Research and Development - Total R&D expenses amounted to ¥475,198,935.51, representing 4.45% of total revenue[52]. - The company developed 157 new products and filed 15 invention patents during the reporting period[55]. - The number of R&D personnel is 730, making up 6.6% of the total workforce[53]. - The management team emphasizes the importance of research and development in driving innovation and maintaining competitive advantage[90]. Environmental and Social Responsibility - The company has 19 key pollution discharge outlets, all of which meet the emission standards for major pollutants[138]. - The actual annual emissions for chemical oxygen demand (COD) were 963.19 tons, with nitrogen oxides at 711.45 tons, significantly below the permitted limits[139]. - The company achieved a 22% year-on-year increase in biogas production, enhancing the profitability of biogas utilization[142]. - The company has implemented a new low-cost biogas desulfurization technology, improving waste gas treatment efficiency[142]. - The company purchased agricultural products worth 101,200 yuan from poverty-stricken areas to support poverty alleviation efforts[151]. Corporate Governance - The audit report for the company was issued by Da Xin Accounting Firm with a standard unqualified opinion[3]. - The company has established a risk control department to enhance its internal control and risk management systems, ensuring compliance with relevant regulations[132]. - The internal control audit conducted by DaXin Accounting Firm resulted in a standard unqualified opinion on the effectiveness of the company's internal controls for the 2021 financial report[134]. - The company’s governance structure has been continuously improved, aligning with the requirements set by the China Securities Regulatory Commission and the Shanghai Stock Exchange[136]. Market Expansion and Internationalization - The company expanded its international presence by establishing wholly-owned subsidiaries in Singapore, Mexico, the USA, and Germany, achieving an internationalization index of 20.3% with exports to 163 countries and regions[27]. - The company is planning to establish subsidiaries in the United States and Germany to enhance its market presence[101]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence, with potential targets identified[92]. Financial Management - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[5]. - The company has not violated any decision-making procedures regarding external guarantees[5]. - The total amount of guarantees provided by the company, excluding subsidiaries, is 0 RMB, with a guarantee balance at the end of the reporting period also at 0 RMB[173]. - The total amount of guarantees, including those to subsidiaries, is 342,087,028.53 RMB, which accounts for 4.99% of the company's net assets[174].

Financial Performance - The company's revenue for Q3 2021 was ¥2,360,201,794.88, representing a year-over-year increase of 13.22%[4] - The net profit attributable to shareholders for Q3 2021 was ¥190,127,363.79, a decrease of 35.23% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥172,837,119.21, down 37.77% year-over-year[4] - The basic earnings per share for Q3 2021 was ¥0.2307, reflecting a decline of 35.23% from the previous year[5] - The diluted earnings per share for Q3 2021 was also ¥0.2307, showing a decrease of 35.23% year-over-year[5] - Operating profit for Q3 2021 was ¥1,163,857,052.66, a decrease of 6.5% from ¥1,244,405,604.79 in Q3 2020[19] - Net profit attributable to shareholders of the parent company for Q3 2021 was ¥1,017,947,987.42, slightly up from ¥1,012,489,565.62 in Q3 2020[19] - The total comprehensive income attributable to the parent company for Q3 2021 was ¥1,017,947,987.42, compared to ¥828,762,695.80 in Q3 2020, reflecting an increase of approximately 23%[20] - The company reported a total comprehensive income of ¥1,032,965,610.07 for Q3 2021, compared to ¥872,920,382.87 in Q3 2020, marking an increase of approximately 18%[20] Cash Flow and Assets - The net cash flow from operating activities for the first nine months of 2021 was ¥419,583,202.68, down 72.49% compared to the same period last year[5] - Total cash and cash equivalents were RMB 743,020,121.09, down from RMB 1,107,102,339.28, indicating a decrease of approximately 33%[14] - Net cash flow from operating activities for the first three quarters of 2021 was ¥419,583,202.68, a significant decrease from ¥1,525,180,817.79 in the previous year[21] - The company reported a net increase in cash and cash equivalents of ¥-364,082,218.19 for the first three quarters of 2021, compared to an increase of ¥174,369,857.57 in the same period of 2020[22] - Cash inflow from operating activities totaled ¥8,363,538,009.13 for the first three quarters of 2021, up from ¥7,260,252,637.79 in the same period of 2020[21] - Cash outflow from operating activities was ¥7,943,954,806.45 for the first three quarters of 2021, compared to ¥5,735,071,820.00 in the previous year, indicating an increase of approximately 39%[21] - Investment activities resulted in a net cash outflow of ¥1,119,285,846.35 for the first three quarters of 2021, compared to a net outflow of ¥533,187,526.27 in the same period of 2020[22] - Financing activities generated a net cash inflow of ¥339,192,294.72 in the first three quarters of 2021, a recovery from a net outflow of ¥806,957,810.95 in the previous year[22] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥12,387,772,792.85, an increase of 14.63% from the end of the previous year[5] - Total assets as of Q3 2021 amounted to ¥12,387,772,792.85, compared to ¥10,807,179,510.18 in Q3 2020, reflecting a growth of 14.6%[17] - Total liabilities increased to ¥5,303,364,974.17 in Q3 2021, up from ¥4,619,277,732.74 in Q3 2020, marking a rise of 14.8%[17] - The equity attributable to shareholders at the end of Q3 2021 was ¥6,746,771,770.57, up 14.55% year-over-year[5] - The total equity attributable to shareholders of the parent company reached ¥6,746,771,770.57 in Q3 2021, up from ¥5,889,923,351.98 in Q3 2020, an increase of 14.6%[17] Expenses - Research and development expenses for Q3 2021 were ¥337,538,995.24, an increase of 21.3% from ¥278,086,454.10 in Q3 2020[19] - Sales expenses decreased to ¥471,438,475.23 in Q3 2021, down from ¥729,749,506.53 in Q3 2020, a reduction of 35.3%[18] - The company reported a decrease in financial expenses to ¥42,016,101.80 in Q3 2021, down from ¥89,749,959.99 in Q3 2020, a decline of 53.2%[19] Company Strategy and Outlook - The company attributed the decline in net profit to rising costs of raw materials such as molasses and chemicals, as well as the accrual of equity incentive expenses[9] - The company has not disclosed any new product developments or market expansion strategies during this reporting period[13] - The company has not provided any specific future guidance or performance outlook in this report[13] - The company has no significant changes in shareholder structure, with Hubei Angel Yeast Group Co., Ltd. holding 39.56% of shares[12] - There are no significant related party transactions reported among the top shareholders[12]

Financial Performance - The company's operating revenue for the first half of 2021 reached CNY 5,233,898,313.88, representing a 20.55% increase compared to CNY 4,341,632,692.53 in the same period last year[14]. - Net profit attributable to shareholders of the listed company was CNY 827,820,623.63, up 15.14% from CNY 718,955,659.23 year-on-year[14]. - The net profit after deducting non-recurring gains and losses was CNY 725,765,563.75, reflecting an 8.49% increase from CNY 668,977,984.22 in the previous year[14]. - The basic earnings per share for the first half of 2021 was CNY 0.9939, a 13.93% increase from CNY 0.8724 in the same period last year[16]. - The weighted average return on net assets was 13.28%, a decrease of 0.33 percentage points compared to 13.61% in the previous year[16]. - The total assets of the company at the end of the reporting period were CNY 12,009,242,569.36, compared to CNY 10,807,179,510.18 at the end of the previous year[15]. - The net cash flow from operating activities was negative CNY 199,701,296.34, a significant decrease from CNY 820,876,463.12 in the same period last year, representing a decline of 124.33%[14]. - The company reported a significant increase in operating costs, with a rise of 38.21% in operating costs to 3.57 billion yuan[29]. - The company achieved operating revenue of 5.23 billion yuan, a year-on-year increase of 20.55%[29]. Assets and Liabilities - The company's net assets attributable to shareholders reached CNY 6,529,787,203.03[15]. - The total current assets increased to approximately RMB 5.08 billion, up from RMB 4.45 billion, marking a growth of around 14%[93]. - Long-term receivables increased to approximately RMB 453.09 million, up from RMB 235.87 million, which is an increase of about 92%[93]. - Total liabilities increased to CNY 5,168,448,416.99, a growth of 11.88% from CNY 4,619,277,732.74[95]. - Current liabilities amounted to CNY 3,738,933,211.06, reflecting a rise of 19.63% compared to CNY 3,125,048,633.61[94]. - The company’s total liabilities decreased to CNY 6,187,901,777.44 from CNY 6,187,901,777.44 in the previous year[110]. Cash Flow - Cash flow from operating activities showed a net outflow of 199.7 million yuan, a decline of 124.33% compared to the previous year[29]. - The total cash inflow from operating activities was CNY 5,320,005,234.68, compared to CNY 4,668,919,897.03 in the previous year, indicating a growth of 13.9%[105]. - The net cash flow from financing activities was CNY 405,392,031.94, a turnaround from a negative cash flow of CNY -289,082,028.46 in the previous year[107]. - The company reported a total cash balance of approximately ¥741.53 million at the end of the period, down from ¥1,107.10 million at the beginning of the period, with foreign currency deposits totaling ¥96.95 million[187]. Production and Operations - The company has a total yeast production capacity exceeding 270,000 tons, ranking first in Asia and third globally[21]. - The company operates 12 factories located in regions including Yichang, Guangxi, and Egypt, expanding its production capabilities[21]. - The total fermentation volume of yeast products increased by 12% year-on-year, indicating strong production performance[29]. - The company utilizes an advanced SAP ERP system for production management, balancing inventory based on historical sales data and market conditions[21]. Market and Sales - The company has established a global marketing network with 13 domestic sales organizations and 6 overseas divisions, selling products in 155 countries[21]. - The company's yeast products have a global market share of 15% and a domestic market share exceeding 55%[25]. - The sales strategy combines distributor agency, direct supply to major clients, and internet marketing, enhancing market reach[22]. Research and Development - The company submitted 21 invention patents during the reporting period, with 12 patents granted[25]. - Research and development expenses for the first half of 2021 were ¥215,939,209.65, up from ¥169,655,748.30, marking a 27.3% increase[99]. - The company reported a significant increase in investment income, amounting to CNY 246,585,899.41, compared to CNY 47,400,000.00 in the previous year, marking a rise of 419.5%[102]. Environmental Compliance - The company has 17 pollution discharge outlets, all of which are compliant with environmental standards[54]. - The chemical oxygen demand (COD) levels for various discharge outlets are within regulatory limits, with the highest concentration recorded at 74 mg/L, below the limit of 150 mg/L[54]. - The company has successfully implemented anaerobic ammonia oxidation technology in four factories, enhancing wastewater treatment efficiency[57]. Corporate Governance - The first extraordinary general meeting of shareholders was held on March 10, 2021, with 99 shareholders present, representing 469,129,884 shares, accounting for 56.93% of the total shares[45]. - The company did not distribute dividends or increase capital reserves in the profit distribution plan[48]. - The company has received approval for the 2020 restricted stock incentive plan from the State-owned Assets Supervision and Administration Commission of Hubei Province[49]. Social Responsibility - The company provided 1.18 million RMB in慰问金 to support poverty alleviation efforts during the reporting period[67]. - A total of 101,200 RMB worth of agricultural products were purchased from the partnered village to aid local farmers[67]. - The company allocated 50,000 RMB to the partnered village for research and learning expenses to promote rural revitalization[67].

Financial Performance - Net profit attributable to shareholders rose by 45.74% to CNY 442.05 million year-on-year[4] - Operating revenue grew by 29.55% to CNY 2.66 billion compared to the same period last year[4] - Basic earnings per share increased by 45.74% to CNY 0.53642[4] - The total comprehensive income attributable to shareholders of the parent company increased by 207.77% year-on-year, driven by increased net profit and reduced foreign currency translation differences[15] - Net profit after deducting non-recurring gains and losses increased by 47.61% to CNY 414.23 million[4] - Net profit for Q1 2021 was ¥449,243,533.21, representing a 40.5% increase from ¥319,598,615.73 in Q1 2020[28] - The net profit attributable to shareholders of the parent company for Q1 2021 was CNY 442,051,717.10, up 45.8% from CNY 303,314,536.29 in Q1 2020[29] Assets and Liabilities - Total assets increased by 5.23% to CNY 11.37 billion compared to the end of the previous year[4] - The company's total liabilities amounted to approximately CNY 4.74 billion, compared to CNY 4.62 billion, reflecting a growth of about 2.6%[22] - The equity attributable to shareholders increased to approximately CNY 6.33 billion from CNY 5.89 billion, representing a growth of about 7.5%[22] - Current assets totaled ¥4,525,089,147.68 in Q1 2021, up from ¥4,037,729,650.64 in Q1 2020[25] - Total assets as of Q1 2021 amounted to ¥8,639,198,541.69, compared to ¥8,001,258,185.20 at the end of Q1 2020[26] Cash Flow - Cash flow from operating activities showed a significant decline of 260.66%, resulting in a net outflow of CNY 444.51 million[4] - Net cash flow from operating activities decreased by 260.66% year-on-year, mainly due to concentrated procurement of key raw materials[17] - The cash inflow from operating activities for Q1 2021 was CNY 2,674,171,849.76, compared to CNY 2,116,452,598.66 in Q1 2020, showing a growth of 26.3%[32] - The company reported a net cash outflow of -384,228,301.93 for the quarter, contrasting with a net increase of 251,803,119.50 in Q1 2020[33] - Cash outflow for debt repayment was 860,338,153.33, compared to 1,263,188,260.00 in the previous year[34] Expenses - Operating costs increased by 39.38% year-on-year, mainly due to sales growth and the implementation of new accounting standards[12] - R&D expenses increased by 54.31% year-on-year, reflecting the company's increased investment in research and development[13] - Total operating costs for Q1 2021 were ¥2,151,118,275.01, up 27.4% from ¥1,687,955,558.33 in Q1 2020[28] - Research and development expenses increased to ¥103,354,261.02 in Q1 2021, up 54.4% from ¥66,977,831.64 in Q1 2020[28] Shareholder Information - The total number of shareholders reached 74,811 by the end of the reporting period[7] - The largest shareholder, Hubei Angel Biotechnology Group Co., Ltd., holds 39.98% of the shares[8] - The company has implemented a restricted stock incentive plan for 744 individuals, including directors and executives, to enhance employee motivation and retention[18] Government Support - The company received government subsidies amounting to CNY 31.85 million during the reporting period[5] Other Financial Metrics - The weighted average return on equity increased by 1.28 percentage points to 7.23%[4] - Cash received from tax refunds increased by 566.76% year-on-year, primarily due to an increase in export tax rebates[16] - The company’s financial expenses decreased by 79.93% year-on-year, mainly due to lower interest expenses and reduced foreign exchange losses from overseas companies[14] - The company’s other comprehensive income after tax decreased by 159,684,601.64 yuan, mainly due to a reduction in foreign currency translation differences[14]

Financial Performance - The company's operating revenue for 2020 was CNY 8,933,035,777.74, representing a 16.73% increase from CNY 7,652,754,551.71 in 2019[12] - The net profit attributable to shareholders for 2020 was CNY 1,371,512,559.64, a 52.14% increase compared to CNY 901,500,017.94 in 2019[12] - The net profit after deducting non-recurring gains and losses was CNY 1,220,348,877.69, reflecting a 45.81% increase from CNY 836,948,145.81 in 2019[12] - The net cash flow from operating activities for 2020 was CNY 1,869,215,941.06, up 44.23% from CNY 1,295,981,194.55 in 2019[12] - Basic earnings per share for 2020 was CNY 1.6643, an increase of 52.14% compared to CNY 1.0939 in 2019[14] - The weighted average return on equity rose to 25.15%, an increase of 5.78 percentage points from 19.37% in the previous year[14] - Total revenue for Q4 2020 reached CNY 2,506,807,173.30, with net profit attributable to shareholders at CNY 359,022,994.02[16] Assets and Liabilities - As of the end of 2020, the net assets attributable to shareholders were CNY 5,889,923,351.98, a 17.10% increase from CNY 5,029,839,822.37 at the end of 2019[12] - The total assets at the end of 2020 amounted to CNY 10,807,179,510.18, which is a 9.09% increase from CNY 9,906,635,563.46 at the end of 2019[12] - Total liabilities amounted to CNY 4,619,277,732.74, slightly up from CNY 4,609,253,039.24, indicating a marginal increase of about 0.15%[143] - Short-term borrowings surged to CNY 1,141,051,194.42, compared to CNY 787,241,668.50 in 2019, representing an increase of approximately 45%[143] - Long-term borrowings decreased to CNY 1,245,147,875.44 from CNY 1,428,617,910.20, showing a decline of about 12.8%[143] Market Presence and Production Capacity - The company has a total yeast production capacity exceeding 270,000 tons, ranking first in Asia and third globally[19] - The company operates 11 factories across various regions, including China and Egypt, enhancing its production capabilities[19] - The company has established a global marketing network, selling products in 155 countries and regions[21] - The company holds a 15% global market share in yeast products and maintains the number one position in the domestic market[25] - The domestic market generated a main business revenue of CNY 6.365 billion, growing by 17.71% year-on-year, while the international market revenue was CNY 2.519 billion, up 14.74%[28] Research and Development - The company has obtained 92 new invention patents, bringing the total to 237 patents, and has received multiple awards for technological progress[25] - The company’s total R&D investment for the period was approximately CNY 386.19 million, accounting for 4.32% of operating revenue[40] - The number of R&D personnel was 640, making up 6.97% of the total workforce[40] - The company developed and launched 120 new products, including functional foods and seasonings, during the reporting period[41] Environmental Compliance and Sustainability - The company has achieved compliance with pollution discharge standards across all major subsidiaries, with specific pollutant discharge levels well within regulatory limits[85] - The company has implemented a comprehensive environmental monitoring system, including online monitoring for wastewater and air emissions, ensuring real-time compliance with regulatory standards[90] - The total annual emissions for 2020 included Chemical Oxygen Demand (COD) at 31.32 tons, Sulfur Dioxide (SO2) at 842.44 tons, Nitrogen Oxides (NOx) at 689.50 tons, and Ammonia Nitrogen at 757.43 tons[86] - The company has successfully completed the renewal of all yeast factory discharge permits, with new permits obtained in batches[88] Shareholder Relations and Profit Distribution - The company plans to distribute a cash dividend of CNY 5 per 10 shares, totaling an estimated distribution of CNY 412,040,471.50[2] - The company has revised its profit distribution policy, stating that the total cash dividends distributed in a year should not be less than 30% of the net profit attributable to shareholders of the listed company[58] - The company emphasizes the importance of communication with shareholders, particularly minority shareholders, through various channels[59] - In 2020, the company distributed cash dividends of CNY 412,040,471.5, representing 30.04% of the net profit attributable to ordinary shareholders[60] Corporate Governance - The company has retained Da Xin Accounting Firm for 22 years, continuing their role as the financial auditor for 2020[66] - The company has a dedicated compensation and assessment committee that formulates the remuneration plan[114] - The total number of independent directors is six, ensuring diverse oversight and governance[108] - The company is committed to maintaining high standards of corporate governance and transparency[108] Employee Engagement and Social Responsibility - The company invested a total of CNY 4.0191 million in poverty alleviation efforts, with CNY 3.9457 million in financial support and CNY 73,400 in material assistance[79] - The satisfaction rate of the poverty alleviation policies among the 165 registered poor households reached 100% after thorough verification[79] - The company organized various cultural and legal education activities to promote spiritual poverty alleviation and stimulate internal motivation[83] Financial Reporting and Audit - The audit report confirms that the financial statements fairly present the company's financial position as of December 31, 2020[133] - The internal control audit report issued by Da Xin Accounting Firm provided a standard unqualified opinion on the effectiveness of the company's internal controls[131] - The company has engaged in a thorough assessment of credit risk related to accounts receivable, which is a significant accounting estimate[137] Future Outlook and Strategic Goals - The company aims to achieve a revenue target of CNY 15 billion by 2025, focusing on yeast, health food ingredients, and new biotechnologies[54] - The company plans to continue expanding its market presence and enhancing its product offerings through strategic marketing and innovation initiatives[29] - The company will strengthen market control and adjust sales strategies in response to increasing competition in the yeast industry[56]

Financial Performance - Net profit attributable to shareholders was RMB 1,012,489,565.62, representing a 52.12% increase year-on-year[5]. - Operating revenue for the first nine months was RMB 6,426,228,604.44, up 15.58% from the same period last year[5]. - Net profit for the first three quarters of 2020 increased by 53.07% year-on-year, driven by higher revenue growth outpacing cost increases[16]. - Total operating revenue for Q3 2020 reached ¥2,084,595,911.91, an increase of 12.9% compared to ¥1,846,213,704.12 in Q3 2019[28]. - Net profit for Q3 2020 was ¥306,417,085.62, up from ¥208,679,420.44 in Q3 2019, representing a growth of 46.9%[29]. - The company's total comprehensive income for Q3 2020 reached CNY 225.87 million, compared to CNY 240.72 million in the previous quarter[32]. - The company reported a total profit of CNY 247.24 million for Q3 2020, an increase of 86.9% from CNY 132.21 million in Q3 2019[31]. Cash Flow - Net cash flow from operating activities for the first nine months was RMB 1,525,180,817.79, a significant increase of 104.20% year-on-year[5]. - Cash inflow from operating activities for the first three quarters of 2020 was CNY 7,260,252,637.79, an increase of 18.8% compared to CNY 6,109,326,569.62 in the same period of 2019[33]. - Cash inflow from financing activities was CNY 2,730,000,000.00, down from CNY 3,159,556,384.69 in the same period last year[34]. - The ending balance of cash and cash equivalents was CNY 625,369,104.52, an increase from CNY 552,281,675.13 at the end of the previous year[34]. - The net cash flow from operating activities was CNY 925,988,423.02, significantly up from CNY 369,226,856.91 in the same period last year[37]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 10,096,092,726.50, an increase of 1.91% compared to the end of the previous year[5]. - Total current assets amounted to RMB 3,979,928,014.67, up from RMB 3,865,938,082.59, indicating an increase of about 2.9%[22]. - Total liabilities decreased to RMB 4,277,022,196.61 from RMB 4,609,253,039.24, a reduction of about 7.2%[23]. - The company's equity attributable to shareholders increased to RMB 5,528,970,140.97 from RMB 5,029,839,822.37, representing a growth of approximately 9.9%[23]. - Total liabilities reached approximately $3.89 billion, with current liabilities at $2.72 billion and non-current liabilities at $1.18 billion[44]. Shareholder Information - The total number of shareholders at the end of the reporting period was 49,138[8]. - The largest shareholder, Hubei Angel Yeast Group Co., Ltd., held 39.98% of the shares[10]. Research and Development - Research and development expenses for Q3 2020 amounted to ¥108,430,705.80, a 23.4% increase from ¥87,806,402.98 in Q3 2019[28]. - The company has not disclosed any new product or technology developments in this report[4]. Financial Ratios and Metrics - Basic earnings per share increased to RMB 1.229, reflecting a growth of 52.10% compared to the previous year[5]. - The weighted average return on equity decreased by 1.07 percentage points to 13.42%[5]. - Financial expenses rose by 76.83% year-on-year, primarily due to increased exchange losses[15]. - The company's tax expenses for Q3 2020 were CNY 37.56 million, up from CNY 18.55 million in Q3 2019, reflecting an increase of 102.0%[31]. Other Comprehensive Income - Other comprehensive income after tax decreased by 241.24% year-on-year, primarily due to increased foreign currency translation losses[17]. - The company reported a decrease in other comprehensive income, amounting to approximately -¥286.62 million[41].

Financial Performance - The company's operating revenue for the first half of 2020 was RMB 4,341,632,692.53, representing a 16.91% increase compared to RMB 3,713,738,609.13 in the same period last year[12]. - The net profit attributable to shareholders of the listed company reached RMB 718,955,659.23, a significant increase of 54.85% from RMB 464,281,844.75 in the previous year[12]. - The net cash flow from operating activities was RMB 820,876,463.12, showing a remarkable increase of 369.41% compared to RMB 174,875,923.39 in the same period last year[12]. - Basic earnings per share for the first half of 2020 were RMB 0.8724, up 54.85% from RMB 0.5634 in the same period last year[13]. - The company reported a net profit excluding non-recurring gains and losses of RMB 668,977,984.22, which is a 53.41% increase from RMB 436,075,314.97 in the same period last year[12]. - The diluted earnings per share also stood at RMB 0.8724, marking a 54.85% increase compared to RMB 0.5634 in the previous year[13]. - The company achieved a revenue of 4.342 billion RMB, representing a year-on-year growth of 16.91%[24]. - Net profit attributable to the parent company was 719 million RMB, a significant increase of 54.85% compared to the previous year[24]. - The company reported a net profit increase, with retained earnings rising to ¥3,822,577,352.00 from ¥3,433,254,069.97, showing an increase of about 11%[85]. Assets and Liabilities - The total assets of the company at the end of the reporting period were RMB 10,300,211,253.06, which is a 3.97% increase from RMB 9,906,635,563.46 at the end of the previous year[12]. - The net assets attributable to shareholders of the listed company increased to RMB 5,315,979,966.61, reflecting a 5.69% growth from RMB 5,029,839,822.37 at the end of the previous year[12]. - Current liabilities rose significantly to ¥4,078,001,143.26, compared to ¥2,988,211,128.29, indicating an increase of about 37%[85]. - Total liabilities amounted to ¥4,707,014,076.76, slightly up from ¥4,609,253,039.24, marking an increase of approximately 2%[85]. - The company’s total assets at the end of the first half of 2020 were reported at 5,593,197,176.30 RMB, indicating a stable asset base despite the challenges faced[102]. Market and Operations - The company operates in the yeast and yeast derivatives industry, focusing on a wide range of products including baking yeast, nutritional health products, and animal nutrition additives[16]. - The company has established a global marketing network, with products sold in 155 countries and regions[18]. - The company holds a global market share of 12% in yeast products, maintaining the number one position in the domestic market[21]. - The company has a total fermentation capacity exceeding 250,000 tons, with 15 modern production lines[21]. - The company launched new products including sugar-free yeast strains and cold-resistant yeast, and made progress in gene editing technology[21]. Cash Flow and Financing - The net cash flow from financing activities decreased by 153.58% to approximately -¥289.08 million, primarily due to a reduction in loans compared to the previous year[27]. - The company's cash and cash equivalents increased by 39.79% to approximately ¥927.80 million, driven by higher cash receipts from sales[32]. - Short-term borrowings increased by 119.43% to approximately ¥1.73 billion, mainly to repay maturing bonds[32]. - The company reported a total cash inflow from operating activities of CNY 4,668,919,897.03, compared to CNY 3,588,686,462.18 in the first half of 2019, indicating a growth of 30.2%[95]. Research and Development - Research and development expenses for the first half of 2020 were ¥169,655,748.30, compared to ¥153,551,563.39 in the same period of 2019, reflecting a growth of 10.5%[90]. - The company has established Anqi Nutri Co., Ltd. to expand its product offerings in health and nutrition sectors[111]. Environmental Compliance - The company has met all environmental discharge standards for its wastewater discharge[66]. - The company reported a total of 14.54 tons of chemical oxygen demand (COD) and 400.45 tons of sulfur dioxide and nitrogen oxides emissions for the first half of 2020, with ammonia nitrogen emissions at 340.1 tons[74]. - The company has implemented anaerobic ammonia oxidation technology in four factories, which has been operating effectively[70]. - The company has established an emergency response plan for environmental incidents, which is regularly practiced and updated[72]. Corporate Governance - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period[3]. - The company has retained Da Xin Accounting Firm as its financial auditor for the 2020 fiscal year, ensuring continued oversight of financial operations[43]. - The company has strictly adhered to commitments regarding the prohibition of executives and middle-level managers from holding shares in the listed company and its affiliates, as well as engaging in competing businesses[42]. Community Engagement - The company invested a total of 3.508482 million in poverty alleviation projects during the first half of 2020[62]. - The company conducted health lectures and donated nutritional products valued at 40,000 to the local community[63]. - The company has successfully absorbed one college student from a registered impoverished household into employment[62]. Risk Management - The company has identified several risks, including market competition, exchange rate fluctuations, and raw material price volatility, which may impact operations and profitability[38]. - The company will enhance market control and adjust sales strategies to mitigate risks associated with increased competition in the yeast industry[38].

Financial Performance - Net profit attributable to shareholders rose by 28.00% to CNY 303,314,536.29 year-on-year[4] - Operating income grew by 12.68% to CNY 2,050,353,784.52 compared to the same period last year[4] - Basic earnings per share increased by 27.99% to CNY 0.3681[4] - The weighted average return on equity improved by 0.60 percentage points to 5.95%[4] - Total operating revenue for Q1 2020 was CNY 2,050,353,784.52, an increase of 12.67% compared to CNY 1,819,648,286.56 in Q1 2019[26] - Net profit for Q1 2020 reached CNY 319,598,615.73, compared to CNY 245,894,968.50 in Q1 2019, representing a growth of 29.93%[27] - Earnings per share (EPS) for Q1 2020 was CNY 0.3681, an increase from CNY 0.2876 in Q1 2019[28] Cash Flow - Net cash flow from operating activities surged by 919.82% to CNY 276,676,318.46[4] - The cash flow from operating activities for Q1 2020 was CNY 276,676,318.46, significantly higher than CNY 27,129,891.88 in Q1 2019[33] - The net cash flow from financing activities improved by 230.46% to RMB 113,275,590.87, primarily due to increased borrowings[16] - The total cash inflow from financing activities in Q1 2020 was CNY 1,680,000,000.00, compared to CNY 1,354,400,000.00 in Q1 2019[34] - The net cash flow from investing activities was -RMB 27,720,145.22, an improvement from -RMB 32,504,242.49 in Q1 2019, showing a decrease in cash outflow of about 14.5%[36] Assets and Liabilities - Total assets increased by 2.58% to CNY 10,162,181,630.71 compared to the end of the previous year[4] - Total current assets as of March 31, 2020, amounted to RMB 4,287,129,082.46, an increase from RMB 3,865,938,082.59 as of December 31, 2019, representing a growth of approximately 10.9%[20] - Total liabilities amounted to RMB 4,704,885,092.40, compared to RMB 4,609,253,039.24, reflecting a rise of about 2.1%[21] - Short-term borrowings rose by 119.41% to RMB 1,727,250,595.22, mainly to repay other current liabilities[10] - The total liabilities for Q1 2020 were CNY 4,092,567,998.36, an increase from CNY 3,891,743,301.30 in Q1 2019[25] Shareholder Information - The number of shareholders reached 31,461 by the end of the reporting period[7] - The largest shareholder, Hubei Angel Yeast Group Co., Ltd., holds 39.98% of the shares[7] Government Support and Other Income - The company received government subsidies amounting to CNY 30,161,318.73 related to its normal business operations[5] - Other income rose significantly by 440.35% to RMB 29,035,480.65, primarily from export subsidies received by the Egyptian subsidiary[12] Taxation - The company reported a 66.87% increase in taxes payable, amounting to RMB 128,725,939.30, due to taxes accrued in the first quarter[11] - The company experienced a 68.01% decrease in tax refunds received, totaling RMB 7,266,717.39, attributed to reduced export tax rebates[15] Research and Development - Research and development expenses for Q1 2020 were CNY 66,977,831.64, a decrease from CNY 73,139,870.29 in Q1 2019, reflecting a reduction of 8.87%[26] - The company reported a decrease in research and development expenses to CNY 38,185,427.16 in Q1 2020 from CNY 48,841,639.41 in Q1 2019[29] Comprehensive Income - The company reported a total comprehensive income of CNY 159,914,014.09 for Q1 2020, compared to CNY 288,237,761.70 in Q1 2019[28] Financial Expenses - Financial expenses increased by 81.40% to RMB 35,127,139.56, largely due to exchange losses from the depreciation of the ruble[11] - The company's financial expenses for Q1 2020 showed a significant increase, with interest expenses at CNY 20,772,060.89 compared to CNY 18,659,159.92 in Q1 2019[29]