Financial Performance - Operating revenue for the period reached approximately ¥930.58 million, an increase of 202.20% year-on-year[12] - Net profit attributable to shareholders was approximately ¥411,313.29, a turnaround from a loss of ¥10.25 million in the same period last year, representing a 104.01% increase[12] - Basic earnings per share were ¥0.0004, compared to a loss of ¥0.0095 per share in the same period last year, marking a 104.21% improvement[12] - The company's operating revenue reached ¥930,576,395.21, a significant increase of 202.20% compared to ¥307,933,290.88 in the same period last year, primarily due to increased fertilizer sales[21] - The company reported a net loss of approximately ¥49.8 million, an improvement from a loss of ¥50.2 million in the previous year[43] - The total comprehensive income for the period was -3,542,778.82 RMB, down from -19,069,024.86 RMB year-over-year[58] Cash Flow - Net cash flow from operating activities was negative at approximately -¥3.34 million, a decline of 111.30% compared to the previous year[12] - The net cash flow from operating activities was negative at -¥3,339,987.11, a decline of 111.30% from ¥29,568,096.21, mainly due to increased cash payments related to operating activities[24] - The cash inflow from investment activities was ¥85.58 million in Q1 2021, down from ¥258.03 million in Q1 2020, reflecting a decrease of 66.8%[67] - The net cash flow from investment activities was -¥153.55 million in Q1 2021, compared to -¥7.12 million in Q1 2020, showing a worsening of 2,059.5%[67] - The total cash inflow from operating activities was ¥924.37 million in Q1 2021, compared to ¥399.80 million in Q1 2020, marking an increase of 131.1%[64] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥3.21 billion, a decrease of 3.32% compared to the end of the previous year[12] - Current assets totaled approximately ¥2.01 billion, down from ¥2.11 billion at the end of 2020, indicating a decrease of around 5.2%[38] - Total liabilities decreased to approximately ¥1.05 billion from ¥1.16 billion, a reduction of about 9.2%[43] - The company's equity attributable to shareholders was approximately ¥1.47 billion, a slight increase from ¥1.46 billion at the end of 2020[43] Expenses - The company's operating costs amounted to ¥891,351,958.12, reflecting a 208.32% increase from ¥289,096,973.26, also driven by higher fertilizer sales[21] - Research and development expenses increased by 127.36% to ¥7,829,488.92 from ¥3,443,664.60, indicating a rise in investment according to project progress[21] - The company reported a financial expense reduction of 73.87%, down to ¥633,978.09 from ¥2,426,689.85, mainly due to increased interest income[21] - The company’s management expenses rose to 5,718,434.45 RMB from 4,899,858.84 RMB in the previous year, reflecting increased operational costs[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 115,415[18] - The largest shareholder, China Agricultural Reclamation Group Co., Ltd., held 250,250,000 shares, accounting for 23.12% of the total shares[18] Future Plans - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[39] - The company plans to continue focusing on R&D to drive future growth, as evidenced by the significant increase in R&D expenses[53] Legal and Financial Commitments - The company is actively pursuing legal actions to recover outstanding performance compensation from previous acquisitions, indicating ongoing efforts to manage financial commitments[25]

Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of 27,094,534.97 CNY, a 49% increase compared to 2019[7]. - The company's operating revenue for 2020 was 3,662,548,774.43 CNY, representing a decrease of 28.68% from 2019[23]. - The net cash flow from operating activities increased by 276.98% to 151,676,344.87 CNY in 2020 compared to 2019[23]. - The total assets of the company at the end of 2020 were 3,320,001,240.25 CNY, a 7.50% increase from the end of 2019[23]. - The company's net assets attributable to shareholders increased by 1.88% to 1,467,297,044.45 CNY at the end of 2020[23]. - Basic earnings per share for 2020 were 0.0250 CNY, up 48.81% from 2019[26]. - The company reported a significant turnaround in net profit after deducting non-recurring gains and losses, achieving 566,347.73 CNY in 2020 compared to a loss of 14,667,057.42 CNY in 2019, marking a 103.86% improvement[23]. - The company plans not to distribute dividends for 2020 due to accumulated undistributed profits being negative[7]. - The weighted average return on net assets for 2020 was 1.86%, an increase of 0.59 percentage points from 2019[26]. Revenue and Sales - In Q1 2020, the company reported a revenue of CNY 307.93 million, which increased to CNY 1.38 billion in Q4 2020, showing a significant growth trend[9]. - The net profit attributable to shareholders was negative in Q1 2020 at CNY -10.25 million, but turned positive to CNY 32.39 million by Q4 2020[9]. - The net cash flow from operating activities was CNY 29.57 million in Q1 2020, with a notable increase to CNY 179.71 million in Q4 2020[9]. - The company achieved a revenue of 3.663 billion yuan in 2020, a year-on-year decrease of 28.68%[46]. - The seed business generated a revenue of 617 million yuan in 2020, with a year-on-year growth of 1.98%[46]. - The company sold 11,700 tons of corn seeds in 2020, resulting in a revenue of 143 million yuan, a year-on-year decline of 17.60%[46]. - The company sold 120.67 million tons of fertilizers in 2020, generating revenue of CNY 2.29 billion, a year-on-year decline of 39.55%[50]. - The company sold 11.97 million tons of wheat seeds in 2020, with revenue of CNY 354 million, a slight decrease of 0.33% year-on-year[49]. - The company sold 1.09 million tons of rice seeds in 2020, achieving revenue of CNY 112 million, a year-on-year increase of 2.04%[49]. Business Strategy and Operations - The core business focuses on the R&D, production, and sales of crop seeds, with a significant emphasis on corn, wheat, and rice seeds[36]. - The company is focusing on transforming from a seed supplier to an integrated agricultural service provider, offering comprehensive services including machinery, agricultural inputs, planting plans, storage, processing, and financial services[39]. - The company is adapting to market changes by developing direct sales to large agricultural operators and integrating services across the agricultural supply chain[36]. - The company has five subsidiaries recognized as "China Seed Industry Credit Backbone Enterprises" and four with national "breeding, propagation, and promotion integration" production qualifications[39]. - The company is enhancing its research and development capabilities, with a strong team and advanced research facilities, contributing to the introduction of new crop varieties[44]. - The company is actively expanding its market presence and enhancing customer service to maintain relationships with major clients while supporting the development of small and medium-sized customers[40]. - The company is exploring the integration of high-quality resources in the industry and related sectors to promote order agriculture and modern agricultural service systems[44]. - The company is facing increased market competition due to a supply-demand imbalance in the seed market, leading to intensified competition among seed enterprises[39]. Research and Development - The total R&D investment amounted to CNY 647.78 million, representing 1.77% of operating revenue[75]. - The company’s research and development expenses increased slightly by 0.72% to approximately ¥34.51 million compared to the previous year[60]. - The number of R&D personnel was 73, accounting for 6.82% of the total workforce[75]. - The company aims to enhance its biological breeding capabilities and address key technological challenges to support national food security[96]. - The company intends to enhance its technological innovation capabilities by collaborating with domestic and international research institutions to develop competitive green varieties[99]. Legal and Compliance Issues - The company is involved in a significant lawsuit regarding a debt dispute with Yichang Jiahua Real Estate Co., with a claim for repayment of CNY 43.4 million plus overdue interest[135]. - The company has a debt recovery case involving Yichang Jiahua Real Estate Co., with properties valued at approximately CNY 52.5 million being used to offset debts, but the recovery timeline remains uncertain[138]. - The company has initiated legal actions to recover CNY 22.79 million owed by Guo Wenjiang, with a court ruling requiring him to repay CNY 20.81 million plus penalties[138]. - The company has engaged in multiple legal proceedings to secure compensation and protect its financial interests, indicating a proactive approach to debt recovery[138]. - 河南农化 has outstanding receivables of 74,333.78 CNY from Shandong Qiaochang Chemical Co., Ltd. as of October 31, 2019[142]. - 河南农化 has been awarded a court judgment to receive 1,182,455.03 CNY from Shandong Yingtai for unpaid project fees, with 786,000 CNY already paid[142]. Environmental and Social Responsibility - The company has implemented various environmental protection measures, including waste gas and wastewater treatment, achieving compliance with discharge standards[195]. - The company has constructed facilities for the production of 10,000 tons of MEA, 10,000 tons of DEA, and 1,000 tons of Quinclorac, all passing environmental protection acceptance[196]. - The company has developed an emergency response plan for environmental incidents, filed with local ecological environment authorities[197]. - The company’s financial performance reflects a commitment to both profitability and social responsibility through targeted community support[182]. - The company invested a total of 24.05 million in poverty alleviation projects, with 1 project initiated[186]. - The company established a standardized production demonstration base for brewing wheat in Xiaoxian County, enhancing local agricultural productivity[182].

Financial Performance - Operating revenue for the period from January to September was CNY 2,280,878,588.90, a decrease of 41.49% year-on-year[11] - Net profit attributable to shareholders of the listed company was a loss of CNY 5,297,908.96, improving by 51.71% compared to the previous year's loss[11] - Operating profit was reported at a loss of RMB 18,823,619.99, worsening by 34.29% compared to a loss of RMB 14,017,176.29 in the same period last year[24] - The company reported a net loss of ¥82,581,585.06 compared to a loss of ¥77,283,676.10 in the previous period[45] - The company reported a net loss of ¥19,948,904.22 for the first three quarters of 2020, compared to a net loss of ¥19,568,560.60 in the same period of 2019[57] - The company reported a net profit loss of CNY 2,026,026.06 for the current quarter, compared to a loss of CNY 1,332,143.83 in the same quarter last year, indicating a worsening performance[63] Cash Flow - Net cash flow from operating activities improved to a negative CNY 28,030,302.00, a 63.35% improvement from the previous year's negative cash flow[11] - Cash flow from operating activities improved by 63.35%, resulting in a net cash outflow of RMB -28,030,302.00 compared to RMB -76,474,791.92 in the previous year[26] - The net cash flow from operating activities was -83,424,858.27 RMB, compared to -30,315,095.37 RMB in the same period last year, indicating a significant decline[71] - The company’s net cash flow from investment activities was -15,449,547.01 RMB, an improvement from -120,346,722.16 RMB year-over-year[74] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,357,715,676.38, an increase of 8.72% compared to the end of the previous year[11] - The company's total assets amounted to approximately CNY 3.36 billion, an increase from CNY 3.09 billion at the end of 2019, reflecting a growth of about 8.7%[39] - Total liabilities increased to ¥1,265,411,907.08 from ¥972,796,010.11, representing a growth of approximately 30% year-over-year[45] - Total current liabilities amounted to CNY 1.10 billion, compared to CNY 811 million in the previous year, indicating a growth of about 35.6%[43] - Total liabilities amounted to ¥972,796,010.11, with current liabilities at ¥810,994,183.55 and non-current liabilities at ¥161,801,826.56[81] Shareholder Information - The total number of shareholders at the end of the reporting period was 105,536, with the largest shareholder holding 23.12% of the shares[19] - Owner's equity decreased to ¥2,092,303,769.30 from ¥2,115,649,887.81, reflecting a decline of about 1.1%[45] - Total equity attributable to shareholders reached ¥1,440,282,629.05, with paid-in capital of ¥1,082,198,663.00 and capital reserve of ¥419,512,519.71[81] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 14,215,925.08 during the reporting period, which are closely related to its normal business operations[11] - The company reported a financial product income of CNY 7,251,944.14 during the period[16] Operational Changes and Investments - The company is in the process of optimizing its industrial structure and has divested from Guangxi Gelin, receiving RMB 56.22 million from the sale[28] - The company completed the acquisition of 51% of Henan Zao Hua Grain and Oil Co., with performance commitments for annual revenues of RMB 50 million and net profits of RMB 5 million from 2016 to 2019[31] - The company has ongoing litigation regarding performance compensation from previous acquisitions, with outstanding amounts of RMB 1,636.57 million yet to be recovered[27] Revenue Recognition Standards - The company implemented new revenue recognition standards starting January 1, 2020, affecting the financial reporting and comparability of data[82] - The company adopted the new revenue recognition standards starting January 1, 2020, impacting financial reporting[89] - The company has not made retrospective adjustments to prior period data under the new revenue standards[90]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,255,332,734.05, a decrease of 46.59% compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 9,078,698.36, showing an improvement of 9.01% from a loss of CNY 9,977,260.19 in the previous year[18]. - The net cash flow from operating activities increased by 135.78% to CNY 82,244,597.23 compared to CNY 34,881,240.57 in the same period last year[18]. - The total assets at the end of the reporting period were CNY 3,160,717,946.00, reflecting a 2.34% increase from CNY 3,088,445,897.92 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 0.63% to CNY 1,431,217,670.45 from CNY 1,440,282,629.05 at the end of the previous year[18]. - The basic earnings per share for the first half of 2020 was -CNY 0.0084, an improvement of 8.70% from -CNY 0.0092 in the same period last year[19]. - The weighted average return on net assets was -0.63%, an increase of 0.07 percentage points compared to -0.70% in the previous year[19]. - The company reported a significant increase in net cash flow from operating activities, amounting to CNY 82.24 million, a 135.78% increase compared to CNY 34.88 million in the previous year[42]. - The net profit for the first half of 2020 was a loss of CNY 22.32 million, with a loss attributable to the parent company of CNY 9.08 million, a reduction in loss of CNY 8.99 million compared to the previous year[41]. Business Operations - The core business focuses on the research, production, and sales of crop seeds, fertilizers, and pesticides, with a significant emphasis on corn, rice, and wheat seeds[26]. - The fertilizer trade business faced challenges due to the COVID-19 pandemic, impacting normal production and logistics, leading to a decline in sales prices and volumes[30]. - The company is one of the four domestic firms with fertilizer import rights, actively adjusting its business strategies to enhance competitiveness and maintain customer relationships[30]. - The pesticide industry is undergoing consolidation, with the company focusing on the production of amide herbicides and intermediate products, aiming to increase market share[30]. - The company has a strong industry position, being rated as an AAA credit enterprise in the seed industry and holding significant influence in the market[29]. - The agricultural seed market is experiencing increased competition and a shift towards integrated agricultural services, driven by policy changes and market demands[29]. - The company is adapting to market changes by increasing the import of new specialty fertilizers, which has improved profitability levels[30]. - The overall seed market is currently characterized by oversupply and intensified competition, leading to a decline in industry profits[29]. Research and Development - The company has strengthened its research and development capabilities, with a focus on developing competitive new varieties such as TianTai 619 and LuYu 1611, which are expected to support market competitiveness[33]. - The company has shifted from external expansion to a balanced approach of internal and external development, aiming to extend the seed industry chain and explore new agricultural service systems[33]. - The company is focusing on establishing a commercial research and innovation system to improve its R&D capabilities and adapt to market demands[56]. Financial Position - The company's total assets amounted to CNY 3.161 billion, with total liabilities of CNY 1.071 billion and net assets of CNY 2.09 billion[41]. - Total current assets increased to ¥1,941,759,758.35 as of June 30, 2020, compared to ¥1,841,374,957.66 at the end of 2019, representing a growth of approximately 5.4%[127]. - Cash and cash equivalents rose to ¥341,921,051.36 from ¥259,107,937.37, marking a significant increase of about 32%[127]. - Total liabilities increased to ¥1,070,683,209.45 from ¥972,796,010.11, reflecting an increase of approximately 10%[132]. - The company's total equity decreased to ¥2,090,034,736.55 from ¥2,115,649,887.81, reflecting a decline of about 1.2%[132]. Environmental and Social Responsibility - The company has implemented various pollution control measures, including centralized collection and treatment of organized and unorganized emissions, ensuring compliance with discharge standards[102]. - Total emissions of particulate matter were recorded at 0.154 tons, significantly below the approved limit of 13.45 tons per annum[101]. - The company has constructed facilities with an annual production capacity of 10,000 tons for multiple products, including MEA and DEA, all of which have passed environmental protection acceptance[103]. - The company completed a donation of 75 tons of fertilizer to support the potato planting industry in Xiaoxian County, contributing to poverty alleviation efforts[95]. - The company’s poverty alleviation plan was completed, and Xiaoxian County achieved its poverty alleviation goal in April 2020[99]. Legal and Compliance Issues - The company is involved in ongoing litigation related to a debt dispute with Yichang Jiahua Real Estate Co., Ltd., claiming CNY 43.4 million plus interest, with a court ruling allowing for property worth CNY 52.5 million to be used for debt compensation[75]. - The company has ongoing litigation regarding the performance compensation agreements, with the case currently under the jurisdiction of the Xinxiang Intermediate People's Court[79]. - The company has outstanding receivables of RMB 7,433,377.58 from Shandong Qiaochang Chemical Co., which has been in litigation since December 2019[80]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 84,560[116]. - The largest shareholder, China Agricultural Reclamation Group, holds 250,250,000 shares, accounting for 23.12% of total shares[116]. - The second largest shareholder, China Agricultural Development Group, holds 157,718,120 shares, representing 14.57% of total shares[116]. - The company confirmed that the freezing and pledging of shares by major shareholders will not affect its control or normal operations[119]. Accounting and Reporting - The company implemented new revenue recognition standards starting January 1, 2020, in accordance with the revised accounting policies issued by the Ministry of Finance[112]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[187]. - The accounting policies comply with enterprise accounting standards, reflecting the company's financial position and operating results accurately[188].

Financial Performance - In 2019, the company achieved a total operating revenue of CNY 5,135,725,233.60, representing a 49.02% increase compared to CNY 3,446,395,314.76 in 2018[25]. - The net profit attributable to shareholders of the listed company for 2019 was CNY 18,183,884.22, a decrease of 42.64% from CNY 31,702,742.05 in 2018[25]. - The company reported a net cash flow from operating activities of CNY 40,234,931.58, which is a 26.35% increase from CNY 31,842,961.21 in the previous year[25]. - As of the end of 2019, the total assets amounted to CNY 3,088,445,897.92, a slight decrease of 0.86% from CNY 3,115,360,970.13 at the end of 2018[25]. - The net assets attributable to shareholders of the listed company were CNY 1,440,282,629.05 at the end of 2019, reflecting a 1.31% increase from CNY 1,421,602,604.86 in 2018[25]. - The basic earnings per share for 2019 were CNY 0.0168, down 42.66% from CNY 0.0293 in 2018[26]. - The company reported a net profit of CNY -14,667,057.42 after deducting non-recurring gains and losses, an improvement of 18.81% from CNY -18,064,840.96 in 2018[25]. - The weighted average return on net assets was 1.27% for 2019, a decrease of 0.99 percentage points from 2.26% in 2018[29]. - The company achieved a revenue of 5.136 billion yuan in 2019, representing a year-on-year increase of 49.02%[50]. - The company reported a total revenue of 346,141.52 million yuan, with the top five customers accounting for 67.40% of total sales[73]. - The company’s total operating revenue for 2019 was approximately 5.136 billion yuan, with a net profit of approximately 45.3 million yuan[60]. Business Segments - The core business focuses on the R&D, production, and sales of crop seeds, with a significant emphasis on corn, rice, and wheat seeds[39]. - The fertilizer trading segment is primarily handled by a subsidiary, which is establishing its own brand and conducting product trials and technical services[42]. - The company has initiated a comprehensive agricultural service model, integrating seed, fertilizer, and pesticide sales[42]. - The company achieved operating revenue of CNY 5,135.73 million in 2019, an increase of 49.02% compared to the previous year[63]. - The agricultural trade segment generated revenue of CNY 4,119.08 million, up 76.25% from the previous year, while the gross margin decreased by 0.68 percentage points to 2.42%[65]. - The fertilizer trade business saw revenue of CNY 3,794.15 million, a 95.88% increase, with a gross margin of 0.75%[68]. - The company is focusing on market-oriented strategies, adjusting product structures, and increasing marketing efforts to stabilize sales in the rice seed business[89]. - The company is actively engaged in the research and promotion of wheat, corn, and rice varieties, with a total of 30 corn varieties, 23 rice varieties, and 30 wheat varieties in operation[116]. Market Conditions - The fertilizer industry is experiencing a slowdown in demand due to structural adjustments and environmental regulations, impacting overall market conditions[44]. - The pesticide industry is undergoing consolidation, with increased industry concentration as smaller firms exit the market due to regulatory pressures[47]. - The overall seed market remains oversupplied, leading to intensified competition and a challenging operating environment[96]. - The company is anticipating a competitive landscape in the seed market due to regulatory changes and increased foreign investment[132]. - The company is facing macro policy risks in the seed industry, which is influenced by national agricultural policies and market competition, leading to a decline in industry profits[144]. Research and Development - The company has established a strong research and development capability, with numerous national and provincial-level research platforms and a focus on innovative breeding techniques[48]. - The company introduced 41 new varieties approved at the national or provincial level in 2019, enhancing its competitive advantage[55]. - The company is actively pursuing technological innovation and research to strengthen its product offerings and adapt to market demands[95]. - The company has developed advanced breeding technologies, including male sterility techniques for maize and hybrid rice production[107]. - The company is committed to accelerating breeding processes through innovative techniques, significantly reducing breeding timelines[107]. Risk Management - The company has identified various macro policy risks and natural disaster risks that may impact future operations[8]. - The company is addressing natural disaster risks by improving seed quality control and diversifying production bases to mitigate potential impacts[145]. - The company plans to strengthen risk management and refine its management system to ensure stable operations and improve operational efficiency[144]. - The company is committed to improving safety and environmental management to mitigate risks associated with hazardous materials used in production[149]. Legal and Compliance Issues - The company is currently facing significant litigation matters, including a debt dispute involving its subsidiary Hua Kan Company[172]. - The company has initiated legal actions to recover debts totaling 2.28 million yuan from Guo Wenjiang, with the court having taken preservation measures on related assets[175]. - The company is involved in ongoing litigation regarding the performance compensation measures agreement, with claims of at least 17.97 million yuan in bad debt provisions[177]. - The company has taken steps to ensure the recovery of debts through legal channels, including asset preservation and additional claims against involved parties[176]. Strategic Initiatives - The company is actively pursuing mergers and acquisitions to expand its industry layout and enhance its competitive position[148]. - The company is exploring innovative marketing models and integrated services to adapt to changing market conditions and enhance customer engagement[143]. - The company aims to integrate internal resources and enhance its R&D capabilities to develop new seed varieties that meet market demands[146]. - The company is focusing on enhancing its agricultural service system and marketing strategies to improve brand influence and market share[143].

2020 年第一季度报告 公司代码：600313 公司简称：农发种业 中农发种业集团股份有限公司 2020 年第一季度报告 1 / 20 2020 年第一季度报告 一、 二、 11Í 四、 | --- | |----------------| | 目录 | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 20 2020 年第一季度报告 单位：元 币种：人民币 3 / 20 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人陈章瑞、主管会计工作负责人于雪冬及会计机构负责人（会计主管人员）顾军保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-------------------------------------------------| ...

Financial Performance - In 2019, the company achieved a net profit attributable to shareholders of CNY 18,183,884.22, a decrease of 42.64% compared to CNY 31,702,742.05 in 2018[6] - The company's operating income for 2019 was CNY 5,135,725,233.60, representing a 49.02% increase from CNY 3,446,395,314.76 in 2018[25] - The net cash flow from operating activities was CNY 40,234,931.58, an increase of 26.35% compared to CNY 31,842,961.21 in 2018[25] - The total assets at the end of 2019 were CNY 3,088,445,897.92, a decrease of 0.86% from CNY 3,115,360,970.13 at the end of 2018[25] - The company's net assets attributable to shareholders at the end of 2019 were CNY 1,440,282,629.05, an increase of 1.31% from CNY 1,421,602,604.86 at the end of 2018[25] - The basic earnings per share for 2019 were CNY 0.0168, down 42.66% from CNY 0.0293 in 2018[26] - The company reported a negative retained earnings balance of CNY -250,179,646.94 at the end of 2019, compared to CNY -240,510,874.54 at the beginning of the year[6] - The company plans not to distribute dividends for 2019 due to negative retained earnings, in accordance with its articles of association[6] - The weighted average return on net assets for 2019 was 1.27%, a decrease of 0.99 percentage points from 2.26% in 2018[29] Revenue and Sales - In Q1 2019, the company reported a revenue of ¥899,244,650.29, which increased to ¥1,547,854,039.64 in Q3 2019, before declining to ¥1,237,386,496.96 in Q4 2019[30] - The company achieved a revenue of 5.136 billion yuan in 2019, representing a year-on-year increase of 49.02%[50] - The seed business generated a revenue of 605 million yuan, a decrease of 4.86% year-on-year, with a gross profit of 135.88 million yuan, an increase of 0.6%[50] - The agricultural trade segment saw revenue of CNY 3,788 million, up 95.91% year-on-year, driven by increased sales of key fertilizer products[64] - The seed sales segment reported revenue of CNY 604.83 million, a decrease of 4.86% year-on-year[65] - The company sold 12,300 tons of corn seeds, generating revenue of 160 million yuan, a year-on-year increase of 1.16%[52] - The company sold 89,600 tons of wheat seeds in 2019, with revenue of 295 million yuan, a year-on-year decrease of 9.57%[52] - The company sold 8,900 tons of rice seeds in 2019, achieving revenue of 110 million yuan, a year-on-year increase of 9%[53] - The company sold 1.6118 million tons of fertilizers in 2019, generating revenue of 3.794 billion yuan, a year-on-year increase of 95.88%[54] - The company's pesticide sales reached 16,300 tons in 2019, with revenue of 325 million yuan, a year-on-year increase of 41.12%[54] Market and Industry Trends - The fertilizer industry is experiencing a slowdown in demand due to structural adjustments and environmental regulations, impacting overall market conditions[44] - The pesticide industry is undergoing consolidation, with increased industry concentration as smaller firms exit the market due to regulatory pressures[47] - The overall seed market remains oversupplied, leading to intensified competition and a challenging operating environment for the company[96] - The decline in grain prices and changes in national storage policies have negatively impacted the fertilizer industry, presenting challenges for the company's fertilizer business[90] Research and Development - The company has established a strong research and development capability, with numerous national and provincial-level research platforms and a focus on innovative breeding techniques[48] - The company introduced 41 new varieties approved at the national or provincial level in 2019, enhancing its competitive advantage[55] - The company is focusing on market-oriented strategies, enhancing product R&D, and optimizing seed production and marketing to improve operational efficiency[91] - The company has established multiple research institutes and breeding bases, enhancing its technological innovation capabilities and maintaining a leading position in the industry[95] Risk Management - The company faced various risks including macro policy risks and natural disaster risks, which are detailed in the report[8] - Natural disasters pose a risk to seed production, affecting yield and quality; the company plans to enhance its seed quality control system and diversify production bases to mitigate this risk[135] - The company is focusing on integrating R&D capabilities across its subsidiaries to improve innovation and adapt products to market needs, addressing the long R&D cycles and high costs associated with new seed varieties[136] Corporate Governance and Compliance - The company adheres to national laws and regulations, ensuring the protection of the rights and interests of shareholders and creditors[193] - The company has established a decision-making and supervision system to safeguard the legal rights of shareholders and creditors[193] - The company has made changes to its accounting policies in accordance with the new financial reporting format issued by the Ministry of Finance in September 2019[156] - The company has adopted revised accounting standards for financial instruments and reporting since January 1, 2019[157] Environmental and Social Responsibility - The company emphasizes environmental protection and resource utilization while pursuing sustainable development[193] - The company has established production facilities with an annual capacity of 10,000 tons for Ethyl Acetate, 10,000 tons for 2-Methyl-6-Ethyl Aniline (MEA), 10,000 tons for 2,6-Diethyl Aniline (DEA), and 1,000 tons for Quinclorac, all of which have passed environmental protection completion acceptance[200] - The company has developed specific poverty alleviation projects in Anhui Province, aiming to enhance agricultural quality and support impoverished households[186] - The company plans to continue promoting new wheat varieties such as "Luo Mai 26" and "Lun Xuan 66" to assist local farmers in overcoming difficulties in selling their grain[192]

Financial Performance - Operating revenue for the period from January to September was ¥3,898,338,736.64, representing a significant increase of 70.72% year-on-year[18]. - Net profit attributable to shareholders of the listed company was -¥10,971,407.02, a decrease of 450.68% compared to the same period last year[18]. - The company reported a net loss of -¥25,593,752.99 after deducting non-recurring gains and losses, which is a 19.15% increase in loss compared to the previous year[18]. - The company's operating revenue for the third quarter reached ¥3,898,338,736.64, a 70.72% increase compared to ¥2,283,511,362.97 in the same period last year, driven by increased sales volume in the fertilizer business[30]. - The gross profit margin for Q3 2019 was approximately -0.2%, down from a positive margin in Q3 2018, reflecting increased costs outpacing revenue growth[58]. - Net profit for Q3 2019 was ¥404,852.86, a decline from ¥29,560,523.09 in Q3 2018, indicating a significant drop in profitability[62]. Cash Flow - The net cash flow from operating activities improved to -¥76,474,791.92, a 36.07% improvement from -¥119,621,265.48 in the previous year[18]. - The net cash flow from operating activities was negative CNY 76,474,791.92, an improvement from negative CNY 119,621,265.48 year-over-year[76]. - Cash inflow from operating activities for the first nine months reached CNY 4,404,181,264.58, up from CNY 3,118,942,134.61, representing a year-over-year increase of approximately 41.2%[76]. - Cash outflow from operating activities totaled CNY 4,480,656,056.50, compared to CNY 3,238,563,400.09 in the previous year, indicating a rise of about 38.5%[76]. - The net cash flow from financing activities improved by 126.44% to ¥21,454,972.48 from -¥81,147,965.17, as the subsidiary reduced loan repayments[30]. - The net cash flow from investment activities was negative CNY 139,799,727.06, contrasting with a positive CNY 247,536,855.82 in the prior year[78]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,160,106,159.59, an increase of 1.44% compared to the end of the previous year[18]. - The company's current assets totaled CNY 1,872,488,665.89, slightly up from CNY 1,826,661,023.98 at the end of 2018[42]. - Total liabilities increased to CNY 1,092,838,532.98 from CNY 1,017,748,898.34 year-over-year[48]. - The company's total equity attributable to shareholders was CNY 1,411,257,747.65, down from CNY 1,421,602,604.86 at the end of 2018[48]. - The company has a total of ¥691.45 million in fixed assets, indicating significant investment in long-term operational capacity[85]. - The total liabilities to equity ratio stands at approximately 0.49, suggesting a balanced capital structure[90]. Shareholder Information - The total number of shareholders at the end of the reporting period was 72,716, with the largest shareholder holding 23.12% of the shares[24]. - The largest shareholder, China Agricultural Development Group Co., Ltd., held 250,250,000 shares, representing 23.12% of the total shares[26]. Research and Development - Research and development expenses for Q3 2019 totaled ¥8,828,504.11, up from ¥7,088,974.26 in Q3 2018, showing an increase of about 25%[58]. - Research and development expenses were 296,039.86 RMB, compared to 114,392.84 RMB in the same period last year, reflecting an increase of approximately 158.5%[68]. Strategic Initiatives - The company is focusing on market expansion and new product development strategies[94]. - Future outlook includes potential mergers and acquisitions to enhance market presence[94]. - The company is investing in new technologies to drive growth and improve operational efficiency[94]. - The financial report indicates a commitment to maintaining a strong balance sheet while pursuing strategic initiatives[94].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 2,350,484,697, representing a 59.12% increase compared to CNY 1,477,218,612 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of CNY 9,977,260, an improvement of 35.45% from a loss of CNY 15,456,938 in the previous year[19]. - The net cash flow from operating activities decreased by 45.34% to CNY 34,881,240 from CNY 63,810,528 in the same period last year[19]. - The total assets at the end of the reporting period were CNY 3,117,412,947.68, a slight increase of 0.07% from CNY 3,115,360,970.13 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were CNY 1,412,279,238.18, showing a decrease of 0.66% from CNY 1,421,602,604.86 at the end of the previous year[19]. - The basic earnings per share for the first half of 2019 was -CNY 0.0092, an improvement of 35.66% from -CNY 0.0143 in the same period last year[20]. - The weighted average return on net assets increased by 0.42 percentage points to -0.70% from -1.12% in the previous year[20]. - The company reported a net profit excluding non-recurring gains and losses of -CNY 18,342,500.20, which is a 26.45% improvement from -CNY 24,937,481.28 in the previous year[19]. Business Operations - The company’s main business includes research, production, and sales of crop seeds, fertilizers, and pesticides, with a focus on corn, rice, and wheat seeds[27]. - The company has established a comprehensive commercial R&D system and a regional testing platform for wheat and rice, enhancing its competitive edge in the seed industry[27]. - The seed industry is experiencing consolidation, with a significant reduction in the number of seed companies, leading to a stronger market position for larger firms[28]. - The company holds AAA credit rating in the seed industry and is a vice president unit of the China Seed Association, indicating strong industry credibility[31]. - The market for corn seeds is facing challenges, including a decrease in planting area and falling seed prices, impacting overall sales[28]. - The hybrid rice seed market is characterized by a decline in demand and an increase in the area of high-quality rice varieties, which are seeing price increases[30]. - The company employs a third-party seed production model to ensure quality and adherence to production standards[27]. - The company is transitioning from a seed supplier to an integrated agricultural service provider, offering comprehensive services to new agricultural entities[28]. - The company’s marketing strategy includes direct sales to large farming households and integrated services for agricultural inputs[27]. Research and Development - The company introduced 11 new varieties in the first half of 2019, including 6 corn varieties that passed national approval, enhancing its competitive edge[37]. - The company has established a strong R&D team and advanced testing facilities, contributing to its technological competitiveness in the seed industry[35]. - The company is focusing on quality improvement and cost reduction in seed production, with a significant decrease in the area for producing older varieties[38]. - The company is actively exploring innovative marketing channels to enhance seed sales and deepen market penetration[38]. - The company reported a decrease in research and development expenses by 30.97% to CNY 12.31 million, reflecting a reduction in investment based on R&D progress[46]. Financial Management - The company reduced its financial expenses by 48.21% to CNY 5.96 million due to decreased short-term borrowings[43]. - The company reported a significant increase in cash flow from financing activities, with a net cash flow of CNY -7.18 million, a 194.01% improvement compared to the previous year[43]. - The company emphasized risk control and aimed to reduce "two funds" (accounts receivable and inventory) as a strategic priority[41]. - The company maintained a focus on safety and environmental protection, with no safety or environmental responsibility accidents reported during the period[42]. Legal and Compliance Issues - The company has faced challenges in meeting performance commitments from acquisitions, with specific net profit targets not achieved in 2016 and 2017[63]. - The company has faced significant litigation, including a debt dispute with Yichang Jiahua Real Estate, claiming CNY 43.4 million plus overdue interest[72]. - The company has taken legal action to recover debts, including a CNY 3.8 million claim against Jiahua Company, with ongoing enforcement proceedings[72]. - The company has reported no significant impact on its performance from ongoing legal disputes[72]. Environmental Management - Henan Nonghua's environmental management includes 12 organized waste gas discharge outlets, all meeting the emission standards set by GB16297-1996[98]. - The company has established a waste gas treatment system with 10 sets of exhaust treatment devices and a wastewater treatment system that meets production requirements[99]. - The company has implemented a self-monitoring plan for environmental management, with monthly monitoring of pollutants and compliance with discharge standards[104]. Shareholder Information - The total number of common stock shareholders reached 82,744 by the end of the reporting period[113]. - The largest shareholder, China Agricultural Reclamation Group Co., Ltd., holds 250,250,000 shares, accounting for 23.12% of total shares, with 119,229,542 shares frozen[113]. - China Agricultural Development Group Co., Ltd. is the second-largest shareholder with 157,718,120 shares, representing 14.57%[115]. - The company reported no significant accounting errors that required retrospective restatement during the reporting period[111]. Strategic Initiatives - The company aims to enhance the income of impoverished households through targeted poverty alleviation strategies[92]. - The company plans to conduct demonstration training for corn cultivation using suitable varieties Tian Tai 316 and Tian Tai 619, aiming to optimize training effectiveness and increase farmers' income[97]. - The company will provide wheat seeds at preferential prices and organize training for local retailers and large grain growers on wheat cultivation techniques[97].

2019 年第一季度报告 公司代码：600313 公司简称：农发种业 中农发种业集团股份有限公司 2019 年第一季度报告 1 / 26 2019 年第一季度报告 í 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 26 2019 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人陈章瑞、主管会计工作负责人于雪冬及会计机构负责人（会计主管人员）顾军保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-------------------------------------------------|-------------- ...