Financial Performance - The company's operating revenue for 2021 was CNY 685,361,129.68, representing a 23.22% increase compared to CNY 556,230,065.25 in 2020[18]. - The net profit attributable to shareholders of the listed company was CNY 40,911,517.95, a 6.98% increase from CNY 38,241,556.44 in the previous year[18]. - The net profit after deducting non-recurring gains and losses reached CNY 26,525,752.04, a significant increase of 1,772.28% compared to CNY 1,416,760.68 in 2020[18]. - The net cash flow from operating activities was CNY 86,835,964.57, up 6.97% from CNY 81,179,775.35 in 2020[18]. - The total assets at the end of 2021 were CNY 1,842,949,365.97, reflecting a 5.20% increase from CNY 1,751,879,686.69 at the end of 2020[18]. - The net assets attributable to shareholders of the listed company increased by 4.42% to CNY 515,783,622.46 from CNY 493,959,150.11 in 2020[18]. - Basic earnings per share for 2021 were CNY 0.11, a 10.00% increase from CNY 0.10 in 2020[19]. - The weighted average return on equity was 8.10%, slightly down by 0.06 percentage points from 8.16% in 2020[19]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, with a return on equity of 5.25%, up 4.95 percentage points from 0.30% in 2020[19]. Revenue Sources and Sales - Revenue for 2021 reached 685 million RMB, with main business income contributing 667 million RMB[25]. - The company’s revenue sources include dairy products, cotton seeds, and licorice products[25]. - The company produced 11,094.39 tons of cotton and 23,354.30 tons of liquid milk during the reporting period[32]. - The company sold 13,482.25 tons of cotton and 23,232.92 tons of liquid milk in 2021[32]. - The company achieved a 72.60% increase in cotton seed sales revenue, with a gross margin of 71.25%[36]. - Liquid milk sales volume increased by 4.89%, contributing to the overall revenue growth[34]. Operating Costs and Expenses - Operating costs increased to ¥511.41 million, reflecting a 22.09% rise due to increased sales volume of liquid milk and cotton products[34]. - The total manufacturing costs for the year amounted to CNY 505,686,043.60, representing a 22.24% increase compared to the previous year's CNY 413,672,267.99[41]. - Research and development expenses surged by 97.60% to ¥13.05 million, indicating a significant increase in technology investment[33]. - The company reported a significant increase in full-fat milk segment costs, with a 65.72% rise in total costs compared to the previous year[42]. Cash Flow and Financing - The company reported a net cash flow from financing activities of ¥83.52 million, a 150.91% increase, primarily due to increased borrowings and investments[33]. - The investment cash flow turned negative at -¥119.83 million, reflecting significant capital expenditures on new projects[33]. - Cash inflow from financing activities was RMB 818,145,876.32, with a net cash flow of RMB 83,518,808.18, reversing from a net outflow of RMB 164,039,934.48 in 2020[167]. - The company received RMB 728,445,876.32 in borrowings in 2021, an increase from RMB 520,000,000.00 in 2020[167]. Market and Industry Outlook - The dairy industry is expected to enter a stable development period due to increasing consumer awareness of nutritional value[26]. - The dairy industry is recovering significantly post-pandemic, with government support for the dairy sector and new consumption channels emerging, such as online transactions[62]. - The seed processing and sales industry is facing challenges due to declining planting areas and faster seed renewal rates[26]. - The seed processing and sales industry is facing intensified competition due to an oversupply of seeds and the new Seed Law aimed at market fairness and protection[62]. Research and Development - The company invested CNY 13,045,377.87 in R&D, which accounts for 1.90% of total revenue[45]. - The number of R&D personnel is 53, making up 9.40% of the total workforce[46]. - The company aims to enhance its research and development efforts to support new product launches in the upcoming fiscal year[176]. Governance and Compliance - The company strictly adheres to corporate governance regulations, ensuring transparency and compliance with laws, with no instances of false records or misleading statements reported[73]. - The board of directors operates independently, with all members fulfilling their responsibilities diligently, and independent directors play a significant role in major decision-making processes[75]. - The company has established specialized committees within the board, enhancing decision-making efficiency and compliance with governance standards[75]. - The company has committed to timely and accurate information disclosure, ensuring all shareholders have equal access to information[76]. Shareholder and Executive Information - The total compensation for the executives listed amounts to 345.89 million yuan for the reporting period[80]. - The company has seen no significant changes in shareholdings among its directors and supervisors during the reporting period[80]. - The company held multiple shareholder meetings throughout 2021, with key resolutions passed including financial support for subsidiaries and adjustments to independent director compensation[78]. - The total number of employees in the parent company and major subsidiaries is 571, with 32 in the parent company and 539 in subsidiaries[95]. Financial Position and Assets - Total assets amounted to 1.843 billion RMB, with net assets of 528 million RMB, and net profit of 45.39 million RMB for the year 2021[25]. - The company's intangible assets increased by 230.26% to ¥119,293,057.52, mainly due to the reclassification of construction in progress[50]. - The total liabilities increased to CNY 1,315,341,214.74 in 2021 from CNY 1,269,739,624.33 in 2020, reflecting a growth of approximately 3.6%[153]. - The company's total equity increased to CNY 527,608,151.23 in 2021 from CNY 482,140,062.36 in 2020, a growth of approximately 9.4%[153].

Financial Performance - The company's operating revenue for Q3 2021 was ¥137,884,956.38, representing a year-on-year increase of 70.08%[5] - The net profit attributable to shareholders for the same period was ¥14,001,647.72, a significant increase of 333.80% compared to the previous year[5] - The basic earnings per share for Q3 2021 was ¥0.04, reflecting a growth of 300% year-on-year[5] - Total operating revenue for the first three quarters of 2021 reached ¥429,906,036.89, a significant increase of 51.6% compared to ¥283,678,606.29 in the same period of 2020[17] - Operating profit for the first three quarters of 2021 was ¥57,461,491.66, up from ¥17,015,007.65 in the previous year, representing a growth of 237.5%[17] - Net profit attributable to shareholders of the parent company was ¥52,113,863.55, compared to ¥12,610,389.84 in the same period last year, marking an increase of 313.5%[18] - The company recorded a comprehensive income total of ¥37,888,216.20, compared to ¥16,070,032.35 in the previous year, indicating a growth of 135.5%[18] - Basic and diluted earnings per share increased to ¥0.14, up from ¥0.03 in the same period last year, representing a growth of 366.7%[18] Cash Flow and Financing - The company's cash flow from operating activities for the year-to-date was ¥50,509,480.86, an increase of 31.23% compared to the previous year[5] - The cash inflow from operating activities totaled ¥357,092,763.67, slightly down from ¥369,111,959.59 in the previous year[20] - The net cash flow from investing activities was 26,840,121.18, compared to 25,963,550.43 in the previous year, indicating a slight increase[21] - Cash inflow from financing activities totaled 619,500,000.00, up from 417,000,000.00 year-over-year, reflecting a growth of approximately 48.5%[21] - The net cash flow from financing activities was 49,022,857.08, a significant recovery from a negative cash flow of -51,749,819.37 in the same period last year[21] - The total cash and cash equivalents at the end of the period reached 183,211,277.39, an increase from 152,658,819.30 year-over-year[21] - Cash received from borrowings amounted to 560,000,000.00, up from 390,000,000.00, indicating a 43.6% increase in financing through loans[21] - Cash paid for debt repayment was 491,785,091.09, compared to 412,678,416.65 in the previous year, reflecting an increase of approximately 19.2%[21] - The net increase in cash and cash equivalents for the period was 126,372,459.12, a significant rise from 12,703,842.22 in the previous year[21] - The cash outflow from financing activities totaled 570,477,142.92, compared to 468,749,819.37 in the previous year, representing an increase of about 21.7%[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,712,815,323.46, showing a decrease of 2.23% from the end of the previous year[6] - Current assets totaled CNY 847,602,857.55, slightly down from CNY 864,604,825.08 at the end of 2020, indicating a decrease of about 1.57%[13][14] - Total liabilities decreased to CNY 1,183,943,943.69 from CNY 1,269,739,624.33, a reduction of approximately 6.76%[15] - The company's equity attributable to shareholders increased to CNY 526,095,977.22 from CNY 493,959,150.11, reflecting an increase of about 6.46%[15] - Inventory decreased to CNY 314,120,304.87 from CNY 380,916,004.19, a decline of approximately 17.5%[13][14] - The company reported a decrease in accounts receivable to CNY 18,383,539.09 from CNY 22,842,501.76, representing a decline of about 19.5%[13] - The total non-current assets were CNY 865,212,465.91, down from CNY 887,274,861.61, indicating a decrease of approximately 2.48%[14] Research and Development - Research and development expenses increased by 34.19%, primarily due to new product development by Xin Nong Dairy[9] - Research and development expenses increased to ¥6,508,663.38, up from ¥4,850,295.45, reflecting a growth of 34.1% year-on-year[17] - The company has no significant new product launches or technological developments reported during this period[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 58,703[10] - The weighted average return on equity increased to 2.71%, up by 1.98 percentage points from the previous year[5]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately RMB 292 million, representing a 44.13% increase compared to the same period last year[19]. - Net profit attributable to shareholders reached approximately RMB 38 million, a significant increase of 306.19% year-on-year[19]. - Basic earnings per share increased to RMB 0.10, up 400% from RMB 0.02 in the same period last year[19]. - The weighted average return on equity rose to 7.73%, an increase of 5.57 percentage points compared to the previous year[19]. - The net cash flow from operating activities was approximately RMB 47 million, reflecting a 71.08% increase year-on-year[19]. - Revenue for the reporting period was CNY 292.02 million, a 44.13% increase compared to the previous year, primarily driven by increased sales from the seed processing and sales business[30]. - The company reported a significant decrease in inventory by 22.37% to CNY 295.69 million, mainly due to reduced raw material levels in the seed business[32]. - Operating profit for the first half of 2021 was CNY 40,833,665.53, significantly higher than CNY 12,170,732.55 in the first half of 2020[74]. - The company's total revenue for the first half of 2021 was CNY 158,447.41 million, a significant increase from CNY 22,648.92 million in the same period of 2020, representing a growth of approximately 600%[77]. - The net profit for the first half of 2021 reached CNY 41,714.31 million, compared to a net profit of CNY 12,094.68 million in the first half of 2020, indicating a year-over-year increase of about 245%[76]. Assets and Liabilities - The company's total assets decreased by 4.18% to approximately RMB 1.68 billion compared to the end of the previous year[19]. - The company's total liabilities decreased to CNY 1,174,970,212.87 from CNY 1,269,739,624.33, reflecting a reduction of approximately 7.4%[68]. - The total amount of guarantees provided by the company during the reporting period (excluding guarantees to subsidiaries) was CNY 250,375,000[50]. - The total guarantee amount, including guarantees to subsidiaries, reached CNY 457,375,000, which represents 90.81% of the company's net assets[50]. - The company's total assets reached CNY 1.678 billion, with net assets of CNY 504 million, and net profit attributable to the parent company was CNY 38.11 million, reflecting a strong operational performance[29]. Shareholder Information - The company did not propose any profit distribution or capital reserve transfer plans for the first half of 2021, with no dividends or bonus shares issued[38]. - The number of ordinary shareholders at the end of the reporting period was 61,356[56]. - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., held 153,815,575 shares, accounting for 40.32% of the total shares[58]. Risks and Compliance - The company has faced risks related to non-operating fund occupation by controlling shareholders and their affiliates[6]. - The total amount of non-operating funds occupied by controlling shareholders and other related parties during the reporting period was CNY 35,000,000, which accounts for 7.08% of the latest audited net assets[45]. - The company has established measures to prevent related party transactions that could harm its interests, ensuring compliance with market principles[44]. Research and Development - Research and development expenses rose by 44.51% to CNY 4.08 million, indicating a focus on new product development in the dairy segment[31]. - Research and development expenses for the first half of 2021 were CNY 4,079,966.33, up 44.6% from CNY 2,823,222.81 in the same period last year[74]. Cash Flow and Investments - Cash flow from operating activities for the first half of 2021 was CNY 200,305.79 million, slightly up from CNY 196,305.68 million in the first half of 2020[80]. - The net cash flow from operating activities for the first half of 2021 was CNY 47,116,157.19, an increase of 71.6% compared to CNY 27,540,633.36 in the same period of 2020[81]. - The company reported a significant investment income of CNY 21,771.20 million for the first half of 2021, compared to CNY 21,771.10 million in the same period of 2020[77]. Corporate Governance - The company held two shareholder meetings during the reporting period, both of which were conducted in a hybrid format combining in-person and online voting, with all proposed resolutions approved[36]. - There were changes in the board of supervisors, with Yang Juan resigning and Wang Jianfeng and Luo Wenmin appointed as new supervisors[38]. Strategic Focus - The company maintains a strong market position in the dairy industry, with significant growth potential due to low per capita dairy consumption in China[26]. - The company is implementing a "dual-driven" strategy to enhance its dairy source base and marketing network, aiming for sustainable growth[28]. - The company has committed to avoiding any direct or indirect competition with its controlling shareholder, ensuring that business opportunities are prioritized for the company[43]. Financial Reporting and Accounting Policies - The company’s financial statements are prepared in accordance with the enterprise accounting standards, ensuring a true and complete reflection of its financial status[103]. - The company classifies financial assets into categories based on their business model and contractual cash flow characteristics, including those measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income[114]. - The company recognizes expected credit losses as impairment losses or gains in the current profit and loss statement[124].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately RMB 292 million, representing a 44.13% increase compared to the same period last year[19]. - Net profit attributable to shareholders reached approximately RMB 38 million, a significant increase of 306.19% year-on-year[19]. - Basic earnings per share increased to RMB 0.10, up 400% from RMB 0.02 in the same period last year[19]. - The weighted average return on equity rose to 7.73%, an increase of 5.57 percentage points compared to the previous year[19]. - The net cash flow from operating activities was approximately RMB 47 million, reflecting a 71.08% increase year-on-year[19]. - Revenue for the reporting period was CNY 292.02 million, representing a 44.13% increase compared to the previous year, primarily driven by increased sales from the seed processing and sales business[30]. - The company reported a significant decrease in inventory by 22.37% to CNY 295.69 million, mainly due to reduced raw material levels in the seed processing business[32]. - The company reported a net loss of CNY 817,818,374.40, an improvement compared to a net loss of CNY 855,930,590.23 in the previous period[66]. - The company reported a total comprehensive income of CNY 21,655,199.82 for the first half of 2021, compared to CNY 11,768,178.46 in the same period of 2020[73]. Assets and Liabilities - The company's total assets decreased by 4.18% to approximately RMB 1.68 billion compared to the end of the previous year[19]. - The net assets attributable to shareholders increased by 3.67% to approximately RMB 512 million at the end of the reporting period[19]. - Total assets as of the end of the reporting period were CNY 1,535,483,679.10, a decrease from CNY 1,594,337,308.85 at the end of the previous period[70]. - Total liabilities decreased to CNY 607,458,557.32 from CNY 673,931,440.28, reflecting a reduction of 9.8%[70]. - The company's equity attributable to shareholders increased to CNY 512,084,152.68 from CNY 493,959,150.11, showing an increase of approximately 3.67%[66]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 61,356[54]. - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., holds 40.32% of the shares[56]. - The company did not propose any profit distribution or capital reserve transfer plans for the half-year period, with no dividends or stock bonuses declared[37]. Corporate Governance - The company held two shareholder meetings during the reporting period, both of which were conducted in a hybrid format combining in-person and online voting[35]. - There were changes in the board of supervisors, with Yang Juan resigning and Wang Jianfeng and Luo Wenmin being appointed[37]. - The company has committed to avoiding any direct or indirect competition with its controlling shareholder, Tzongzong Company, to protect its interests[42]. Research and Development - Research and development expenses rose by 44.51% to CNY 4.08 million, indicating a focus on new product development in the dairy segment[31]. - The company has not disclosed any new product developments or technological advancements during the reporting period[38]. Taxation and Subsidies - The company applies a tax rate of 25% for most entities, while Xin Nong Gan Cao benefits from a reduced tax rate of 15%[168]. - The company enjoys tax exemptions for agricultural and livestock projects, as well as for certain products like cotton and milk[169]. - Xin Nong Dairy has been granted a VAT exemption for self-produced agricultural products since February 1, 2016[170]. - Non-recurring gains and losses totaled approximately RMB 5.92 million, with government subsidies contributing RMB 3.46 million[21]. Cash Flow Management - The cash flow from operating activities generated a net amount of 47,116,157.19 million RMB in the first half of 2021, up from 27,540,633.36 million RMB in the same period of 2020[79]. - The company’s cash and cash equivalents at the end of the first half of 2021 amounted to 119,873,845.83 million RMB, an increase from 89,230,522.50 million RMB at the end of the first half of 2020[80]. - The company’s financing activities resulted in a net cash outflow of 15,966,284.45 million RMB in the first half of 2021, an improvement from a net cash outflow of 84,001,412.07 million RMB in the same period of 2020[80]. Inventory and Receivables - The total inventory at the end of the period was CNY 327,237,908.02, down from CNY 414,965,033.05, indicating a decrease of about 21.1%[197]. - The total accounts receivable at the end of the period was ¥57,064,977.26, with a bad debt provision of ¥25,285,329.82, indicating a provision coverage ratio of approximately 44.3%[177]. - The company has a significant concentration of accounts receivable, with the top five debtors accounting for 45.88% of total accounts receivable, totaling ¥26,183,740.25[183]. Financial Reporting and Compliance - The company adheres to the accounting standards set forth by the enterprise accounting standards, ensuring that its financial statements accurately reflect its financial position and operating results[101]. - The company’s financial statements are prepared based on the principle of continuous operation, ensuring that it can meet its obligations as they fall due[98]. - The company has not reported any non-standard audit opinions or bankruptcy reorganization matters during the reporting period[45]. Risk Management - The company has not reported any significant changes in derivative financial assets, indicating a stable risk management approach[176]. - The company evaluates credit risk of financial instruments at each balance sheet date, categorizing them into three stages for impairment accounting[120].

Financial Performance - Operating revenue increased by 78.69% to CNY 191,204,473.51 year-on-year[5] - Net profit attributable to shareholders increased by 117.66% to CNY 22,880,827.01 compared to the same period last year[5] - Basic earnings per share rose by 114.28% to CNY 0.06 per share compared to the previous year[5] - The company reported a net profit after deducting non-recurring gains and losses of CNY 19,241,780.77, an increase of 114.87% year-on-year[5] - Net profit for Q1 2021 was ¥22,461,162.88, compared to ¥12,096,117.80 in Q1 2020, representing an increase of 85.5%[20] - The company's total revenue for Q1 2021 was not explicitly stated, but the net profit reached CNY 2,690,521.40, a significant recovery from a net loss of CNY 44,243,631.26 in Q1 2020[22] - Operating profit for Q1 2021 was CNY 2,684,501.17, compared to an operating loss of CNY 44,243,631.26 in the same period last year, indicating a turnaround in operational performance[22] - Comprehensive income for Q1 2021 totaled ¥22,385,200.26, compared to ¥11,077,778.11 in Q1 2020, reflecting strong overall performance[20] Assets and Liabilities - Total assets decreased by 5.17% to CNY 1,661,297,114.85 compared to the end of the previous year[5] - Total current assets decreased to ¥769,675,746.26 from ¥864,604,825.08, a decline of approximately 10.9% year-over-year[14] - Total liabilities decreased to ¥1,156,771,852.23 from ¥1,269,739,624.33, a decline of about 8.9%[15] - Total assets decreased to ¥1,535,384,865.77 in Q1 2021 from ¥1,594,337,308.85 in Q1 2020[18] - Total liabilities decreased to ¥612,299,691.08 in Q1 2021 from ¥673,931,440.28 in Q1 2020[18] - The company reported a total equity of ¥923,085,174.69 in Q1 2021, slightly up from ¥920,405,868.57 in Q1 2020[18] Cash Flow - Net cash flow from operating activities increased by 35.56% to CNY 33,759,848.35 year-on-year[5] - The company reported a net cash flow from operating activities of CNY 33,759,848.35, an increase from CNY 24,903,814.59 in Q1 2020[24] - The net cash flow from investing activities was CNY 29,109,525.57 in Q1 2021, recovering from a negative cash flow of CNY -369,539.27 in Q1 2020[25] - The net cash flow from financing activities was $23,084,162.20, recovering from a net outflow of $71,483,720.39 in the previous period[28] - The total cash and cash equivalents at the end of the period reached $32,916,474.91, compared to $19,052,039.13 in the prior period[28] Shareholder Information - The number of shareholders reached 69,988 at the end of the reporting period[10] - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., holds 40.32% of the shares[10] Expenses and Costs - Total operating costs for Q1 2021 were ¥172,169,844.29, up 89.0% from ¥91,245,531.18 in Q1 2020[19] - Research and development expenses increased to ¥1,976,876.38 in Q1 2021 from ¥1,040,254.98 in Q1 2020, indicating a focus on innovation[19] - The company incurred management expenses of CNY 3,725,572.29 in Q1 2021, compared to CNY 2,660,542.35 in Q1 2020, reflecting increased operational costs[22] - Financial expenses decreased significantly to CNY 1,181,871.85 in Q1 2021 from CNY 4,469,711.60 in Q1 2020, indicating improved financial management[22] Other Financial Metrics - The weighted average return on equity increased by 2.29 percentage points to 4.64%[5] - Cash inflow from investment activities totaled $889,852.00, up from $400,000.00 in the prior period[28] - The company generated CNY 29,889,852.00 from the disposal of fixed assets in Q1 2021, a substantial increase from CNY 675,854.94 in Q1 2020[25] - The company reported a total comprehensive income of CNY 2,614,558.78 for Q1 2021, compared to a loss of CNY -45,261,970.95 in the same period last year[23] Asset Management - Accounts receivable increased to ¥33,164,455.61 from ¥22,842,501.76, representing a growth of about 45.1%[14] - Inventory decreased to ¥304,746,182.55 from ¥380,916,004.19, a reduction of approximately 20%[14] - Cash and cash equivalents increased to ¥135,101,017.47 from ¥105,904,442.39, a growth of approximately 27.5%[13] - Other receivables decreased to ¥205,834,670.95 from ¥261,838,422.58, a decline of about 21.4%[13] - Short-term borrowings decreased to ¥547,272,157.96 from ¥550,633,387.50, a slight reduction of about 0.6%[15] - Total equity increased to ¥504,525,262.62 from ¥482,140,062.36, an increase of approximately 4.5%[15]

证券代码：600359 证券简称：新农开发 公告编号：2021-029 新疆塔里木农业综合开发股份有限公司 关于参加 2021 年新疆辖区上市公司投资者 网上集体接待日暨上市公司业绩说明会活动的公告 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个别及连带责任。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营状况、融资计划、 股权激励、可持续发展等投资者所关心的问题，公司定于2021年6月18日参加由新疆 上市公司协会联合深圳市全景网络有限公司组织开展的2021年新疆辖区上市公司投 资者网上集体接待日活动。现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网络远 程 的 方 式 举 行 ， 投 资 者 可 以 登 录 全 景 网 " 投 资 者 关 系 互 动 平 台 " 网 站 （http://ir.p5w.net）或关注微信公众号：全景财经（微信号：p5w2012），参与公 司本次投资者集体接待日活动，活动时间为2021年6月18日（星期五）。 出席本次集体接待日的人员有：公司董事长白 ...

Financial Performance - The company's operating revenue for 2020 was CNY 556,230,065.25, representing a 0.99% increase compared to CNY 550,803,077.66 in 2019[19] - The net profit attributable to shareholders for 2020 was CNY 38,241,556.44, a significant increase of 359.35% from CNY 8,325,227.07 in 2019[19] - The net cash flow from operating activities reached CNY 81,179,775.35, a substantial increase from CNY 562,306.67 in 2019, marking a growth of 14,336.92%[19] - The total assets at the end of 2020 were CNY 1,751,879,686.69, a slight decrease of 0.17% from CNY 1,754,784,560.73 in 2019[19] - The basic earnings per share for 2020 was CNY 0.10, up 400% from CNY 0.02 in 2019[20] - The weighted average return on equity increased to 8.16% in 2020, up by 6.34 percentage points from 1.82% in 2019[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,416,760.68, compared to a loss of CNY 94,201,028.28 in 2019, reflecting a 101.5% improvement[19] - The company's net assets attributable to shareholders increased by 11.50% to CNY 493,959,150.11 at the end of 2020, compared to CNY 443,022,535.59 in 2019[19] Revenue Sources - The company’s core business includes dairy processing and sales, seed processing and sales, and licorice deep processing, with dairy products being primarily handled by its subsidiary Xin Nong Dairy[30] - The company’s seed processing and sales are conducted through its subsidiary Tahe Seed Industry, focusing on cotton, rice, and wheat seeds, among others[30] - The company’s licorice products are managed by its wholly-owned subsidiary Xin Nong Licorice, which produces various licorice extracts and derivatives[30] - The company achieved an operating income of 556.23 million RMB, a year-on-year increase of 0.99%, while operating costs decreased by 9.97% to 418.88 million RMB[39][40] - The company reported total revenue of CNY 216,498.01, compared to CNY 41,481.08 in 2019, indicating a year-over-year increase of approximately 421%[144] Cost Management - The company reduced sales expenses by 63.79% to 19.66 million RMB, primarily due to the implementation of three institutional reforms[40] - Research and development expenses decreased by 13.98% to 6.60 million RMB, indicating a focus on cost management[40] - Total costs for the period amounted to 413,672,267.99, a decrease of 10.68% compared to 463,121,191.26 in the same period last year[46] - Direct materials costs were 159,774,413.48, accounting for 78.50% of total costs in the industrial sector, down from 83.50% year-over-year[46] - The manufacturing expenses in the industrial sector increased by 28.14% to 34,200,376.20, compared to 26,690,073.80 in the previous year[46] Market Outlook - The overall dairy industry in China shows significant growth potential, despite currently low per capita consumption levels[32] - The seed industry is facing challenges due to declining planting areas and faster seed renewal rates, particularly in the cotton seed sector[32] - The licorice industry benefits from a wide range of applications in pharmaceuticals, food, tobacco, and cosmetics, with over 100 compounds extracted from licorice[32] - The company expects to achieve a revenue of 1.1 billion yuan in 2021, indicating a significant growth outlook[58] Financial Position - Cash and cash equivalents decreased by 24.33% from the previous period, amounting to 105.9 million yuan, which represents 6.05% of total assets[51] - The company’s long-term borrowings increased by 8.97% to 59.3 million yuan, accounting for 3.39% of total assets[51] - The company has 49.07 million yuan in restricted cash due to bank acceptance bill guarantees and pledged loans[52] - The total liabilities decreased to CNY 1,269,739,624.33 from CNY 1,325,241,265.28, a reduction of approximately 4.2%[134] - The company's total equity increased to CNY 482,140,062.36 from CNY 429,543,295.45, reflecting a growth of about 12.2%[134] Governance and Compliance - The company emphasizes the importance of product quality management to mitigate risks associated with product quality incidents[61] - The company did not propose any cash dividend distribution plan for the reporting period, despite having a positive profit available for distribution to ordinary shareholders[65] - The company has committed to avoiding any business activities that may compete directly or indirectly with Xin Nong Development, ensuring no conflicts of interest arise[66] - The company has implemented the new revenue recognition standards effective January 1, 2020, which introduced a five-step method for revenue recognition[68] - The company has maintained a good integrity status for both itself and its controlling shareholders during the reporting period[73] Audit and Internal Control - The independent auditor issued a standard unqualified opinion on the internal control audit report, confirming effective financial reporting internal controls as of December 31, 2020[118] - The audit report emphasizes the importance of evaluating the appropriateness of accounting policies and estimates made by management[128] - The company has implemented significant audit procedures to assess the appropriateness of revenue recognition and asset impairment, which are critical audit matters[125] Employee and Management Structure - The company has a total of 541 employees, with 32 in the parent company and 509 in major subsidiaries[101] - The employee composition includes 227 production personnel, 66 sales personnel, 76 technical personnel, 29 financial personnel, and 143 administrative personnel[101] - The company has established a scientific and standardized human resources policy to motivate employees and ensure fair treatment[102] - The board of directors operates independently, ensuring no interference from the controlling shareholder in decision-making[108] - The company continues to maintain a stable leadership structure with no significant changes in key positions during the reporting period[94] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 64,453, down from 69,988 at the end of the previous month[84] - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., holds 153,815,575 shares, representing 40.32% of total shares[86] - The company has no strategic investors or general legal entities among the top 10 shareholders[87] - The actual controller is the State-owned Assets Supervision and Administration Commission of the First Division of the Xinjiang Production and Construction Corps, which oversees the management of state-owned assets[90] Financial Instruments and Accounting Policies - The company’s accounting policies comply with the requirements of the "Enterprise Accounting Standards," ensuring accurate financial reporting[172] - Financial assets are classified as measured at amortized cost if the business model is to collect contractual cash flows, and as fair value through other comprehensive income if the model is to both collect cash flows and sell the asset[184] - The company recognizes contract assets when it has the right to receive consideration for transferred goods or services, with impairment losses measured using the expected credit loss model[194]

Financial Performance - Operating revenue increased by 78.69% to CNY 191,204,473.51 year-on-year[5] - Net profit attributable to shareholders increased by 117.66% to CNY 22,880,827.01 compared to the same period last year[5] - Net cash flow from operating activities increased by 35.56% to CNY 33,759,848.35 year-on-year[5] - Basic earnings per share rose by 114.28% to CNY 0.06 compared to the previous year[5] - The company reported a net profit after deducting non-recurring gains and losses of CNY 19,241,780.77, an increase of 114.87% year-on-year[5] - Total operating revenue for Q1 2021 was CNY 191,204,473.51, a 78.6% increase from CNY 107,002,996.02 in Q1 2020[19] - Net profit for Q1 2021 reached CNY 22,461,162.88, compared to CNY 12,096,117.80 in Q1 2020, representing an increase of 85.5%[20] - Comprehensive income for Q1 2021 was CNY 22,385,200.26, compared to CNY 11,077,778.11 in Q1 2020, reflecting strong overall performance[20] - In Q1 2021, the company reported a net profit of CNY 2,690,521.40, a significant recovery from a net loss of CNY 44,243,631.26 in Q1 2020[22] Assets and Liabilities - Total assets decreased by 5.17% to CNY 1,661,297,114.85 compared to the end of the previous year[5] - Total liabilities decreased to ¥1,156,771,852.23, a reduction of 8.86% from ¥1,269,739,624.33[15] - The company's total assets as of March 31, 2021, were ¥1,661,297,114.85, down from ¥1,751,879,686.69, reflecting a decline of 5.16%[15] - Total assets decreased to CNY 1,535,384,865.77 in Q1 2021 from CNY 1,594,337,308.85 in Q1 2020[18] - Total liabilities decreased to CNY 612,299,691.08 in Q1 2021 from CNY 673,931,440.28 in Q1 2020[18] - The total equity attributable to shareholders increased to ¥516,764,014.50, up from ¥493,959,150.11, reflecting a growth of 4.61%[15] Shareholder Information - The total number of shareholders reached 67,228 at the end of the reporting period[10] - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., holds 40.32% of the shares[10] Cash Flow and Financing Activities - Cash flow from operating activities increased to CNY 33,759,848.35 in Q1 2021, up from CNY 24,903,814.59 in Q1 2020, indicating improved operational efficiency[24] - The net cash flow from financing activities was negative at CNY -33,672,798.84 in Q1 2021, an improvement from CNY -45,289,348.41 in Q1 2020, indicating better management of financing[25] - The company reported a cash increase of $32,222,619.64 during the period, contrasting with a decrease of $71,720,646.95 in the previous period[28] - The total cash inflow from financing activities reached $144,141,770.68, compared to $135,474,376.00 in the prior period, indicating a growth of approximately 4.9%[28] - The total cash outflow from financing activities was $121,057,608.48, down from $206,958,096.39 in the prior period, indicating a reduction of approximately 41.5%[28] Expenses and Investments - Research and development expenses for Q1 2021 were CNY 1,976,876.38, compared to CNY 1,040,254.98 in Q1 2020, indicating a focus on innovation[19] - The company generated CNY 29,889,852.00 from the disposal of fixed assets in Q1 2021, a significant increase from CNY 675,854.94 in Q1 2020[25] - Cash inflow from investment activities was $889,852.00, compared to $400,000.00 in the previous period, reflecting a 122.5% increase[28] Other Financial Metrics - The weighted average return on equity increased by 2.29 percentage points to 4.64%[5] - The company recorded a significant reduction in financial expenses, decreasing from CNY 4,469,711.60 in Q1 2020 to CNY 1,181,871.85 in Q1 2021[22] - The company reported a credit impairment loss of CNY -2,022,246.02 in Q1 2021, an improvement from CNY -3,779,695.22 in Q1 2020[19] - The cash and cash equivalents at the end of Q1 2021 were CNY 86,035,393.35, compared to CNY 107,949,903.99 at the end of Q1 2020, reflecting a decrease of approximately 20.3%[25] - The company did not apply the new leasing standards for the current reporting period[29]

Financial Performance - The company's operating revenue for 2020 was CNY 556,230,065.25, a slight increase of 0.99% compared to CNY 550,803,077.66 in 2019[19]. - The net profit attributable to shareholders of the listed company reached CNY 38,241,556.44, representing a significant increase of 359.35% from CNY 8,325,227.07 in the previous year[19]. - The net cash flow from operating activities was CNY 81,179,775.35, a substantial increase from CNY 562,306.67 in 2019, marking a growth of 14,336.92%[19]. - The total assets at the end of 2020 were CNY 1,751,879,686.69, a slight decrease of 0.17% from CNY 1,754,784,560.73 in 2019[19]. - The net assets attributable to shareholders of the listed company increased by 11.50% to CNY 493,959,150.11 from CNY 443,022,535.59 in 2019[19]. - Basic earnings per share for 2020 were CNY 0.10, a 400% increase compared to CNY 0.02 in 2019[20]. - The weighted average return on net assets rose to 8.16%, an increase of 6.34 percentage points from 1.82% in 2019[20]. - The company reported a quarterly revenue of CNY 272,551,458.96 in Q4 2020, contributing significantly to the annual total[21]. - The net profit attributable to shareholders in Q4 2020 was CNY 25,631,166.6, indicating strong performance in the last quarter[21]. - The company reported a non-recurring profit of CNY 36,824,795.76 in 2020, compared to a loss of CNY 101,389,731.47 in 2019[24]. Business Operations - The company’s core business includes dairy processing and sales, seed processing and sales, and licorice deep processing, with significant contributions from subsidiaries[29]. - The dairy business primarily operates through Xin Nong Dairy, focusing on milk production and sales, with a production model based on market demand[29]. - The seed processing business is conducted through Tahe Seed Industry, with a focus on cotton and rice seeds, utilizing a "company + base + cooperative" model for seed breeding[30]. - The licorice product line is managed by Xin Nong Licorice, producing various licorice extracts and derivatives, with production plans adjusted based on market trends[30]. - The company’s competitive advantage lies in its regional agricultural resources and a strong supply chain in agricultural production materials and deep processing[33]. - The company aims to enhance its core competitiveness and scale through agricultural industrialization, benefiting from over ten years of experience in the industry[33]. Market Trends - The overall dairy industry in China shows significant growth potential, with low per capita consumption levels[31]. - The seed industry is currently facing challenges due to declining planting areas and rapid seed renewal rates[31]. - The licorice market has a wide range of applications in pharmaceuticals, food, and cosmetics, with over 100 compounds extracted from licorice[31]. Financial Management - Operating costs decreased by 9.97% to 418.88 million RMB, primarily due to staff reductions and lower management expenses[39]. - Sales expenses dropped significantly by 63.79% to 19.66 million RMB, attributed to the implementation of three institutional reforms[39]. - The company achieved a gross margin increase in the industrial sector by 15.62 percentage points, with a gross margin of 22.39%[41]. - Total costs for the period amounted to 413,672,267.99, a decrease of 10.68% compared to 463,121,191.26 in the same period last year[46]. - Direct materials accounted for 80.50% of total costs in the industrial sector, down from 83.50% year-over-year[46]. - The manufacturing expenses in the industrial sector increased by 28.14% to 34,200,376.20, compared to 26,690,073.80 in the previous year[46]. Shareholder Information - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital for the reporting period[5]. - The company reported a net profit attributable to ordinary shareholders of RMB 38,241,556.44 for the year 2020, with a profit distribution ratio of 0%[64]. - The company has not proposed any cash profit distribution plan despite having positive profits for the reporting period[64]. - The total number of ordinary shareholders at the end of the reporting period is 69,988[84]. - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., holds 153,815,575 shares, representing 40.32% of total shares[86]. - The second largest shareholder, Xinyu Win at the Starting Point Enterprise Management Co., Ltd., increased its holdings by 2,703,200 shares, now holding 0.71%[86]. Governance and Compliance - The company appointed Da Xin Accounting Firm (Special General Partnership) as the auditor with a remuneration of RMB 850,000 for a term of one year[71]. - The internal control audit will also be conducted by Da Xin Accounting Firm with a fee of RMB 300,000[71]. - The company emphasizes risk management strategies to address management, industry, product quality, policy, project investment, and liquidity risks[58][59][60][61]. - The company strictly adheres to legal regulations and maintains a transparent governance structure to protect shareholder interests[107]. - The company has implemented a performance assessment system to determine the remuneration of directors and senior management based on annual performance indicators[99]. - The company held 4 shareholder meetings during the reporting period, including 1 annual meeting and 3 temporary meetings, passing a total of 22 resolutions[112]. Employee and Management Structure - The company has a total of 541 employees, with 32 in the parent company and 509 in major subsidiaries[102]. - The employee composition includes 227 production personnel, 66 sales personnel, 76 technical personnel, 29 financial personnel, and 143 administrative personnel[102]. - The company has established a scientific and standardized human resources policy to motivate employees and ensure fair treatment[103]. - The training program for 2020 focused on enhancing employee skills in management, team building, and effective management[104]. - The average age of the current board members and senior management is 46 years[95]. - The company has seen a consistent leadership structure with no significant changes in management roles during the reporting period[95]. Future Outlook - The company expects to achieve a revenue of 1.1 billion yuan in 2021, indicating a significant growth outlook[57]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming fiscal year[158]. - The company aims to improve its financial performance through strategic investments and potential mergers and acquisitions[158].

| 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 2020 年第三季度报告 一、 重要提示 2020 年第三季度报告 公司代码：600359 公司简称：新农开发 新疆塔里木农业综合开发股份有限公司 2020 年第三季度报告 1 / 25 | 目录 | | --- | 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 公司负责人白宏本、主管会计工作负责人陈争跃及会计机构负责人（会计主管人员）许洋保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 25 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度 末增减(%) 总资产 1,708,411,873.71 1,754,784,560.73 -2.64% 归属于上市公司股东的 ...