证券代码 :600371 证券简称 : 万向德农 公告编号 : 2019 – 023 万向德农股份有限公司 关于参加投资者网上集体接待日活动的公告 本公司董事会及全体董事保证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。 为进一步加强与投资者的互动交流，万向德农股份有限公司（以 下简称"公司"）将参加由黑龙江省上市公司协会、深圳市全景网络 有限公司共同举办的"2019 年黑龙江省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通过深圳市全景网络有限公司提供的互 联 网 平 台 举 行 ， 投 资 者 可 以 登 陆 " 全 景 . 路 演 天 下 " 网 站 （http//rs.p5w.net）参与公司本次投资者集体接待日活动，时间为 2019 年 6 月 19 日（周三）14：00—16：30。 届时公司财务经理于秀梅、证券事务代表何肖山将通过网络在线 问答互动的形式，与投资者就公司治理、发展经营情况、可持续发展 等投资者关注的问题进行交流。期间，公司参会人员将全程在线，实 时回答投资者的提问。 欢迎广大投资者积 ...

Financial Performance - Operating revenue for the first quarter was CNY 69,586,571.40, representing a year-on-year increase of 5.56%[6] - Net profit attributable to shareholders of the listed company was CNY 12,409,670.08, a decrease of 3.39% compared to the same period last year[6] - The company reported a basic earnings per share of CNY 0.0561, an increase of 0.72% compared to the previous year[6] - Total operating revenue for Q1 2019 was CNY 69,586,571.40, an increase of 4.1% compared to CNY 65,919,690.60 in Q1 2018[22] - Net profit for Q1 2019 reached CNY 14,168,919.40, representing a 1.4% increase from CNY 13,975,820.35 in Q1 2018[23] - Earnings per share for Q1 2019 was CNY 0.0561, slightly up from CNY 0.0557 in Q1 2018[23] - The company reported a gross profit margin of approximately 20% for Q1 2019, compared to 19.5% in Q1 2018[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 783,671,560.17, a decrease of 0.60% compared to the end of the previous year[6] - Current assets totaled ¥539,046,294.43, showing a marginal decrease from ¥540,423,598.85, indicating a 0.3% reduction[14] - Non-current assets decreased to ¥244,625,265.74 from ¥247,982,112.90, representing a 1.4% decline[14] - Total liabilities decreased to ¥244,140,796.91 from ¥273,043,867.89, marking a significant reduction of 10.6%[15] - Shareholders' equity increased to ¥539,530,763.26 from ¥515,361,843.86, reflecting a growth of 4.7%[15] - The company's total equity as of the end of Q1 2019 was CNY 442,977,158.96, a decrease from CNY 444,371,086.55 at the end of Q1 2018[20] - The company’s total liabilities and equity stood at CNY 449,573,192.92 at the end of Q1 2019, slightly down from CNY 450,638,645.51 in Q1 2018[20] Cash Flow - Cash flow from operating activities was CNY 17,138,223.57, down 52.56% year-on-year[6] - Operating cash flow for Q1 2019 was ¥17,138,223.57, a decrease of 52.5% compared to ¥36,125,509.92 in Q1 2018[27] - Total cash inflow from operating activities was ¥60,186,762.22, down 23.2% from ¥78,356,662.08 in the same period last year[27] - Cash outflow from operating activities increased slightly to ¥43,048,538.65, compared to ¥42,231,152.16 in Q1 2018[27] - The net increase in cash and cash equivalents for the quarter was ¥16,992,723.57, down 76.8% from ¥73,192,411.51 in Q1 2018[28] - The ending balance of cash and cash equivalents was ¥414,532,155.30, compared to ¥427,796,860.43 at the end of Q1 2018[28] Shareholder Information - The number of shareholders at the end of the reporting period was 20,402[8] - The largest shareholder, Wanxiang San Nong Group Co., Ltd., held 48.76% of the shares[8] Expenses - Management expenses rose by 74.66% to CNY 5,859,771.80, primarily due to increased compensation during the period[9] - Research and development expenses were not explicitly reported, indicating a potential focus on cost management[22] - The company experienced a decrease in sales expenses, which were CNY 10,120,138.05 in Q1 2019, down from CNY 10,801,745.91 in Q1 2018[22] - The company reported a significant increase in employee compensation payments, totaling ¥11,826,014.72, up 42.5% from ¥8,311,160.22 in Q1 2018[27] Other Income - Other income decreased by 96.95% to CNY 255,488.24, mainly due to a reduction in received demolition compensation[9] - The company reported a significant increase in other income, totaling CNY 255,488.24 in Q1 2019, compared to CNY 8,382,595.68 in Q1 2018[22]

Financial Performance - In 2018, the company achieved a total revenue of ¥263,890,771.75, representing a year-on-year increase of 2.37% compared to ¥257,773,896.15 in 2017[20] - The net profit attributable to shareholders was ¥52,032,280.16, a decrease of 9.72% from ¥57,632,623.54 in the previous year[20] - The net cash flow from operating activities was ¥39,215,453.17, reflecting a 4.14% increase from ¥37,655,787.25 in 2017[20] - The company's total assets at the end of 2018 were ¥788,405,711.75, up 2.82% from ¥766,775,226.87 in 2017[20] - The basic earnings per share for 2018 was ¥0.23, down 11.54% from ¥0.26 in 2017[21] - The weighted average return on equity decreased to 10.92%, down 1.87 percentage points from 12.79% in 2017[21] - Operating profit increased by 38.94% to ¥86,981,858.59, while net profit attributable to the parent company decreased by 9.72% to ¥52,032,280.16 due to litigation compensation payments[45] - The gross profit margin for the main business was 49.29%, a decrease of 0.54 percentage points compared to the previous year[50] - The company achieved operating revenue of ¥263,890,771.75, representing a year-on-year growth of 2.37%[45] - The company recognized asset disposal income of 29.47 million yuan due to the overall relocation of its subsidiary, which significantly impacted net profit[163] - The total comprehensive income for the period was CNY 58,192,745.32, down from CNY 62,464,808.50, a decrease of 6.5%[182] Dividends and Profit Distribution - The company plans to distribute a cash dividend of ¥2 per 10 shares, totaling ¥45,011,996.14 for the year[6] - The accumulated undistributed profits at the end of 2018 amounted to ¥133,723,444.34[6] - The company will distribute a cash dividend of 2 yuan per 10 shares based on a total share capital of 225,060,000 shares for the 2017 fiscal year[105] - The total comprehensive income for the current period was CNY 58,192,745.32, which includes a net profit distribution to shareholders of CNY -55,011,996.14[197] Market and Competitive Position - The company is positioned as a leading player in the seed industry, recognized as a national high-tech enterprise and a key credit enterprise in the seed sector[32] - The company reported a corn seed supply surplus, with available seed quantity at 1.8 billion kg against a demand of 1.1 billion kg, indicating a significant market imbalance[30] - The company aims to strengthen its market position by focusing on key products and regions, enhancing its competitive edge[43] - In 2018, the number of approved corn varieties reached 1,820, which is 2.01 times the number in 2017, intensifying market competition and leading to price dumping[57] - The new foreign investment policy allows foreign companies to hold up to 66% in corn and wheat seed production, marking a shift towards increased competition with foreign enterprises[59] - The company faces a prolonged "winter" in the seed industry due to oversupply, necessitating a focus on innovation and market development to strengthen its competitive edge[64] Research and Development - The company completed the national-level approval of 5 corn varieties and provincial approval of 1 variety during the reporting period, enhancing its product portfolio[34] - The company received government funding of ¥3.87 million for 4 national projects, supporting its research and development efforts[40] - Research and development expenses increased by 6.52% to ¥14,154,724.83, accounting for 5.36% of total operating revenue[55] - The company’s research and development investment as a percentage of sales has significantly increased, reflecting enhanced innovation capabilities[94] Operational Strategies - The company implemented a brand strategy to strengthen its market presence, focusing on high-quality seed production and innovative marketing services[33] - The company aims to transition from a traditional production model to a service-oriented model, leveraging internet tools for precision marketing[29] - The company adjusted its product structure and focused on core markets to navigate the competitive landscape of the corn seed industry[39] - The company has established a professional technical service team to support farmers, enhancing its service capabilities[37] - The marketing strategy will shift from the 4P model to the SAVE model, emphasizing solutions, access, value, and education[97] Legal and Compliance - The company has engaged Zhongzheng Accounting Firm for auditing services, with a fee of 550,000 yuan for the year[112] - There are no significant lawsuits or arbitration matters affecting the company this year, indicating a stable legal standing[113] - The company has incurred a court-ordered compensation of 49.5 million yuan due to a lawsuit, which has been settled[113] - The company is currently involved in a legal case, with a request for retrial submitted to the Supreme People's Court, which has been accepted[114] Shareholder Information - Wanxiang Agricultural Group Co., Ltd. holds 109,730,873 shares, representing 48.76% of total shares[125] - The top ten shareholders include individuals and institutions, with the largest individual shareholder, Gao Yaping, holding 3,928,535 shares (1.75%)[126] - The company has 20,657 ordinary shareholders as of the end of the reporting period, an increase from 20,402 shareholders at the end of the previous month[124] Employee and Management Structure - The company employed a total of 233 staff, including 9 in the parent company and 224 in major subsidiaries[145] - The company has established a flexible employment mechanism based on performance, emphasizing "merit-based promotion" and "efficiency first" principles[153] - The company’s chairman, Guan Dayuan, has been with the company since 2004 and has extensive experience in the industry[135] - The company’s general manager, Chen Guizhang, has been in his position since 2014 and has a background in project research and strategic planning[135] Financial Position and Assets - Total assets increased to CNY 788,405,711.75 from CNY 766,775,226.87, reflecting a growth of approximately 2.1%[173][175] - Current assets rose to CNY 540,423,598.85, up from CNY 500,692,643.09, indicating an increase of about 7.9%[173] - Total liabilities increased to CNY 273,043,867.89 from CNY 254,594,132.19, representing a growth of approximately 7.2%[174] - The company's cash and cash equivalents rose to CNY 397,539,431.73 from CNY 354,604,448.92, an increase of about 12.1%[173]

Financial Performance - Operating revenue for the first nine months rose by 8.46% to CNY 176,711,890.25 year-on-year[6] - Net profit attributable to shareholders decreased by 1.08% to CNY 33,031,691.84 compared to the same period last year[6] - The weighted average return on equity decreased by 0.513 percentage points to 7.127%[6] - The basic earnings per share slightly decreased by 0.68% to CNY 0.147[6] - Total operating revenue for the first three quarters of 2018 reached ¥176,711,890.25, an increase of 8.6% compared to ¥162,932,132.23 in the same period last year[27] - Net profit attributable to shareholders of the parent company for the first three quarters was ¥38,068,216.63, compared to ¥33,392,657.74 in the previous year, reflecting a growth of 14.8%[28] - Basic earnings per share for Q3 2018 was ¥0.169, up from ¥0.033 in Q3 2017, indicating a substantial increase of 412.1%[29] - The total profit for Q3 2018 was ¥42,358,398.36, compared to ¥8,479,048.03 in Q3 2017, marking an increase of 399.5%[28] - The company achieved a total comprehensive income of ¥42,358,398.36 for Q3 2018, significantly higher than ¥8,479,048.03 in the same quarter last year[29] Cash Flow - Net cash flow from operating activities decreased by 10.28% to CNY 80,167,295.68 year-on-year[6] - Cash inflow from operating activities for the first nine months was 223,993,993.51 RMB, up from 175,163,505.54 RMB in the previous year, representing a growth of approximately 27.9%[37] - Cash outflow from operating activities totaled 143,826,697.83 RMB, compared to 85,810,318.66 RMB last year, indicating an increase of about 67.5%[37] - Net cash flow from operating activities was 80,167,295.68 RMB, down from 89,353,186.88 RMB year-over-year, reflecting a decline of approximately 8.5%[37] - Cash inflow from investment activities was 47,183,242.00 RMB, slightly up from 45,928,900.00 RMB in the previous year[38] - Cash outflow from financing activities was 45,011,996.14 RMB, significantly higher than 20,255,400.00 RMB in the same period last year, indicating an increase of about 122.5%[42] - The net increase in cash and cash equivalents was 80,990,355.84 RMB, down from 114,857,773.08 RMB year-over-year, a decrease of approximately 29.4%[38] - The ending balance of cash and cash equivalents was 435,594,804.76 RMB, compared to 411,546,334.52 RMB at the end of the previous year, reflecting a growth of about 5.8%[38] Assets and Liabilities - Total assets increased by 2.46% to CNY 785,637,157.62 compared to the end of the previous year[6] - Current liabilities rose to ¥267,664,779.84, up from ¥227,489,345.01, indicating an increase of about 17.6%[21] - Total liabilities increased to ¥281,504,150.45 from ¥254,594,132.19, reflecting a growth of approximately 10.6%[22] - The company's equity decreased to ¥504,133,007.17 from ¥512,181,094.68, a decline of approximately 1.9%[22] - The total current assets decreased to ¥78,916,950.12 from ¥126,254,706.48, a decline of about 37.5%[25] - The company's retained earnings decreased to ¥143,103,513.11 from ¥155,083,817.41, a reduction of approximately 7.7%[22] - The total liabilities and equity balance remained consistent at ¥785,637,157.62, confirming the accounting equation[22] Shareholder Information - The total number of shareholders reached 21,585 by the end of the reporting period[10] - The largest shareholder, Wanxiang San Nong Group Co., Ltd., holds 48.76% of the shares[11] - The company’s actual controller established a charitable trust, indirectly controlling 48.76% of the company’s shares[15] Other Notable Events - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company reported a significant increase in tax and additional charges by 38.85% to ¥2,074,477.81, mainly due to increased property and land use taxes[12] - The company has fulfilled its obligation to pay a court-ordered compensation of ¥49,809,426.00 related to a lawsuit[14] - The company is currently awaiting the Supreme Court's decision on a retrial application regarding a previous court ruling[14] - Non-recurring gains and losses amounted to CNY 30,156,293.19 for the year-to-date[9] - Inventory decreased by 46.53% to ¥76,902,692.23 from ¥143,811,028.88, primarily due to reduced sales[12] - Long-term payables decreased by 82.09% to ¥2,945,440.58 from ¥16,450,000.00, mainly due to a reduction in special funds received[12] - Sales expenses increased by 71.33% to ¥32,853,713.49 from ¥19,175,739.52, reflecting increased sales efforts[12] - Non-operating income surged by 5445.67% to ¥5,324,400.63 from ¥96,010.08, primarily due to compensation received[12] - Total operating costs for the first three quarters were ¥148,956,374.82, an increase of 7.2% from ¥138,912,612.40 in the same period last year[27] - Sales expenses for Q3 2018 were ¥11,640,270.42, a significant rise from ¥6,290,040.36 in Q3 2017, representing an increase of 85.9%[27] - Management expenses for the first three quarters were ¥20,256,028.42, compared to ¥16,939,202.92 in the previous year, showing an increase of 19.5%[27] - The company reported an investment income of ¥12,740,000.00 for the first three quarters, up from ¥11,700,000.00 in the same period last year[27]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 122,245,561.46, a slight increase of 0.35% compared to CNY 121,817,177.99 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2018 was a loss of CNY 5,036,524.79, representing a decrease of 119.45% compared to a profit of CNY 25,894,838.56 in the previous year[21]. - The basic earnings per share for the first half of 2018 was -0.022 CNY, down 119.13% from 0.115 CNY in the same period last year[18]. - The net profit attributable to shareholders was a loss of CNY 5,036,524.79, mainly due to a significant lawsuit loss affecting CNY 33.05 million[34]. - The company reported a total comprehensive income of -¥5,394,489.73 for the current period, compared to ¥27,017,075.03 in the previous period[75]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 84,632,939.80, a marginal increase of 0.12% compared to CNY 84,532,137.00 in the previous year[21]. - The net cash flow from operating activities for the first half of 2018 was -2,461,467.19 RMB, compared to -1,547,777.11 RMB in the same period last year, indicating a decline in operational cash flow[85]. - The net cash flow from investment activities was 99,000,000.00 RMB, significantly up from 34,140,000.00 RMB in the previous year, reflecting increased investment returns[85]. - The net increase in cash and cash equivalents for the first half of 2018 was 96,538,532.81 RMB, compared to 32,592,222.89 RMB in the same period last year, showing a strong improvement in liquidity[85]. - The ending balance of cash and cash equivalents as of June 30, 2018, was 484,638,655.17 RMB, up from 426,991,413.44 RMB at the end of the previous period[82]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 846,419,333.19, an increase of 10.39% from CNY 766,775,226.87 at the end of the previous year[21]. - Total liabilities increased to ¥339,632,728.24 from ¥254,594,132.19, reflecting an increase of approximately 33%[66]. - The total equity at the end of the period was 507,979,161.21 RMB, an increase from the beginning balance of 446,822,086.18 RMB[91]. - The company reported a decrease in inventory from ¥143,811,028.88 to ¥92,353,768.25, a decline of approximately 36%[64]. Business Operations - The company’s main business remains the research, production, and sales of hybrid corn seeds, including varieties such as "Jingke 968" and "Deshan No. 5"[22]. - The industry faced challenges with a 15% reduction in corn planting area due to national policy adjustments, equating to approximately 7.5 million acres[22]. - The company completed the annual sales task with a slight increase in sales volume compared to the previous year, despite a decline in sales in the Northeast region[29]. - The company plans to implement a premium strategy to enhance seed quality and brand effect, while also establishing a market data analysis system[37]. - The company plans to expand its market presence and invest in new product development in the upcoming quarters[92]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 23,431[54]. - The largest shareholder, Wanxiang San Nong Group Co., Ltd., holds 109,730,873 shares, accounting for 48.76% of the total shares[54]. - The company proposed a profit distribution plan with no dividends or stock bonuses for the half-year period, indicating a cautious financial strategy[41]. - The actual controller of the company changed to Lu Weiding on March 19, 2018[56]. Legal and Compliance - The company faced a significant lawsuit resulting in a judgment requiring a subsidiary to pay a total of CNY 49.81 million, including compensation and legal fees[44]. - The company has no ongoing major litigation or arbitration matters that could impact its financial position[45]. - The company has maintained a good integrity status, with no significant debts overdue or unfulfilled court judgments during the reporting period[45]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the Chinese Accounting Standards, reflecting the company's financial position and operating results accurately[102]. - There were no significant changes in accounting policies or estimates compared to the previous accounting period[15]. - The company has not reported any environmental information disclosures during the reporting period[50]. - The financial report was approved by the board on August 27, 2018[99]. Investment and Capital Management - The company has approved a loan credit limit of up to CNY 250 million from Wanxiang Financial Co., with a one-year term, to support operational financing[47]. - The company has not disclosed any new major related party transactions or changes in existing agreements[48]. - The company has not proposed any capital reserve transfer plans for the half-year period[42].

Financial Performance - In 2017, the company achieved a total revenue of ¥257,773,896.15, a decrease of 19.07% compared to ¥318,502,363.87 in 2016[20] - The net profit attributable to shareholders was ¥57,632,623.54, representing a 4.96% increase from ¥54,909,185.42 in the previous year[20] - The net cash flow from operating activities was ¥37,655,787.25, down 73.29% from ¥141,002,440.84 in 2016[20] - The total assets at the end of 2017 were ¥766,775,226.87, an increase of 2.44% from ¥748,513,220.78 in 2016[20] - The company's net assets attributable to shareholders increased by 9.55% to ¥469,436,474.23 from ¥428,518,361.26 in 2016[20] - Basic earnings per share for 2017 were ¥0.26, an increase of 8.33% compared to ¥0.24 in 2016[21] - The weighted average return on equity was 12.79%, a decrease of 0.8 percentage points from 13.59% in 2016[21] - Operating profit increased by 19.78% year-on-year to CNY 62.61 million, while net profit attributable to the parent company rose by 4.95% to CNY 57.63 million[44] - The gross margin for the main business was 49.83%, reflecting an increase of 11.67 percentage points compared to the previous year[48] - The company achieved operating revenue of CNY 257.77 million in 2017, a decrease of 19.07% year-on-year[44] Market and Sales - The company faced a challenging market environment due to a reduction of 7.6 million acres in corn planting area over two years, leading to increased competition[38] - The sales volume of hybrid corn seeds reached 16.99 million kilograms, with significant growth in new varieties such as De 5, De 129, and De 1266[41] - The company signed economic responsibility agreements to enhance accountability and performance among subsidiaries and employees[41] - The company’s brand "De Nong" has strong recognition and reputation in the industry, supported by a nationwide sales network[32] - The company planned to achieve sales revenue of 318 million yuan in 2017 but completed 257.75 million yuan, reaching 81.05% of the target due to a strategic reduction in older varieties[110] - The company aims for a sales revenue of 265 million yuan and a profit of 55 million yuan in 2018, while controlling costs to ensure that cost growth does not exceed revenue growth[110] Research and Development - The company invested heavily in research and development, establishing a comprehensive corn breeding system across ecological regions[35] - The company participated in trials for 63 corn varieties, with 32 varieties undergoing national and green channel trials[33] - The company reported a significant increase in the number of approved corn varieties, with 1,965 varieties approved at the provincial level, a 159.9% increase year-on-year[29] - The company utilizes various breeding techniques, including conventional selection, haploid selection, and molecular marker-assisted selection, to improve corn strains[73][74] - The company plans to develop new corn varieties suitable for mechanization, with funding of 1.2 million yuan allocated for the project[102] Quality Management - The company emphasized quality management, ensuring that all sold seeds exceeded national first-class standards[34] - The company implemented a comprehensive quality management system to ensure seed quality and production standards[41] - The company has implemented strict quality control measures for seed purity and germination rates, ensuring compliance with industry standards[91] Financial Management - The company has implemented a comprehensive budget management strategy to optimize financial resource allocation and maintain good relationships with financial institutions[114] - The company plans to apply for a working capital loan from Wanxiang Financial Co., Ltd., with a total credit limit not exceeding RMB 250 million, for a term of 1 year[125] - The company has changed its accounting policy regarding government subsidies, which will now be recognized as other income or deducted from related costs, effective from June 12, 2017[120] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,164, down from 24,420 at the end of the previous month[135] - The largest shareholder, Wanxiang Agricultural Group, holds 109,730,873 shares, representing 48.76% of total shares[137] - The company has no strategic investors or general legal entities becoming top 10 shareholders during the reporting period[139] - The actual controller, Lu Weiding, inherited 95% of the shares from the previous controller, Lu Guanqun, and now holds 100% of Wanxiang Agricultural Group[143] Legal and Compliance - The company is currently involved in a significant lawsuit regarding plant variety rights, with a first-instance judgment requiring compensation of 49.5 million RMB[124] - The company has not faced any risks of suspension or termination of listing during the reporting period[123] - The company has not reported any significant changes in accounting estimates or errors that would require correction[121] Employee and Governance - The total number of employees in the parent company and major subsidiaries is 237, with 6 in the parent company and 231 in subsidiaries[154] - The company has implemented a training plan for employees, focusing on financial management, logistics management, production technology, and corporate management[156] - The board of directors includes a diverse range of professionals with extensive experience in finance and management[148] - The company has maintained a stable leadership structure with no significant changes in shareholding among key executives[147]

Financial Performance - Net profit attributable to shareholders increased by 11.96% to CNY 12,534,316.42 year-on-year[7] - Basic earnings per share rose by 12.07% to CNY 0.0557[7] - Operating profit increased to ¥14,369,723.11, representing a growth of 23.93% compared to ¥11,604,942.25 in the previous period[26] - Net profit for the current period is ¥13,975,820.35, up 19.83% from ¥11,683,223.56 in the previous period[27] - Earnings per share (EPS) increased to ¥0.0557, compared to ¥0.0497 in the previous period, reflecting a growth of 12.04%[27] - The total profit margin improved, with total profit reaching ¥13,975,820.35, compared to ¥11,683,223.56 in the previous period, indicating a positive trend[26] - The company reported a comprehensive income total of ¥13,975,820.35, reflecting a strong overall performance compared to the previous period[27] Revenue and Costs - Operating revenue decreased by 3.10% to CNY 65,919,690.60 compared to the same period last year[7] - Total operating revenue for the current period is ¥65,919,690.60, a decrease of 3.26% from ¥68,028,147.71 in the previous period[26] - Total operating costs decreased to ¥51,597,893.06, down 8.55% from ¥56,423,205.46 in the previous period[26] - The company reported a significant increase in other income, amounting to ¥8,382,595.68, with no previous period data available for comparison[26] - The company experienced a decrease in sales expenses, which rose to ¥10,801,745.91 from ¥6,722,977.81, indicating a strategic shift in cost management[26] Assets and Liabilities - Total assets increased by 6.27% to CNY 814,844,666.63 compared to the end of the previous year[7] - Current assets rose to ¥561,729,979.00, up from ¥500,692,643.09, indicating an increase of about 12.2%[18] - Total liabilities rose to ¥288,687,751.60 from ¥254,594,132.19, marking an increase of approximately 13.4%[19] - Owner's equity increased to ¥526,156,915.03 from ¥512,181,094.68, representing a growth of approximately 2.7%[19] - The non-current assets totaled ¥253,114,687.63, down from ¥266,082,583.78, indicating a decrease of approximately 4.9%[18] Cash Flow - Net cash flow from operating activities increased by 7.54% to CNY 36,125,509.92[7] - Operating cash inflow for the current period reached ¥78,356,662.08, an increase of 24.3% from ¥63,010,346.56 in the previous period[33] - Cash inflow from investment activities totaled ¥8,320,000.00, while cash outflow was ¥133,098.41, resulting in a net cash flow of ¥8,186,901.59[34] - Cash flow from financing activities amounted to ¥28,880,000.00, with no cash outflow reported, leading to a net cash flow of ¥28,880,000.00[34] - The net increase in cash and cash equivalents for the current period was ¥73,192,411.51, compared to ¥33,562,374.63 in the previous period, indicating a significant improvement[34] Shareholder Information - The number of shareholders reached 24,420 at the end of the reporting period[11] - The company maintained a stable dividend payable of ¥11,247,378.37 throughout the period[19] Government Compensation and Prepayments - The company received government compensation of CNY 28,880,000.00 during the reporting period[14] - Significant increase in prepayments by 1,858.44% to CNY 8,762,287.59 due to concentrated advance payments for base funds[13] Financial Management - Financial expenses showed a reduction, with a net financial income of -¥2,003,079.24 compared to -¥1,681,187.87 in the previous period, suggesting improved financial management[26] - The company has shown a strong cash position with a significant increase in cash reserves, indicating robust operational performance and effective cash management strategies[34]

Financial Performance - Net profit attributable to shareholders increased by 10.27% to CNY 33,392,657.74 year-to-date[6] - Operating revenue decreased by 11.62% to CNY 162,932,132.23 compared to the same period last year[12] - Net cash flow from operating activities decreased by 58.18% to CNY 89,353,186.88 year-to-date[12] - Basic earnings per share increased by 9.63% to CNY 0.148[6] - Total operating revenue for Q3 2017 was ¥41,114,954.24, a decrease of 5.5% compared to ¥43,642,681.25 in Q3 2016[28] - Net profit attributable to shareholders for Q3 2017 was ¥7,497,819.18, an increase of 315.5% compared to ¥1,803,547.82 in Q3 2016[29] - Operating profit for the first nine months of 2017 was ¥35,719,519.83, compared to ¥30,577,356.93 for the same period in 2016, reflecting a growth of 37.1%[29] - The company reported a total comprehensive income of ¥8,479,048.03 for Q3 2017, significantly higher than ¥1,920,203.46 in Q3 2016[30] Assets and Liabilities - Total assets increased by 5.07% to CNY 786,486,280.73 compared to the end of the previous year[6] - The company's current assets totaled CNY 516,702,902.67, up from CNY 466,358,668.33 at the beginning of the year, indicating an increase of about 10.1%[18] - The total liabilities decreased to CNY 290,283,471.49 from CNY 301,691,134.60, representing a reduction of approximately 3.5%[20] - The total equity of the company increased to CNY 496,202,809.24 from CNY 446,822,086.18, reflecting a growth of about 11.1%[20] - Total liabilities as of the end of Q3 2017 amounted to ¥6,445,729.27, compared to ¥6,309,976.44 at the end of Q2 2017[28] - Total equity decreased to ¥304,248,475.86 from ¥312,780,748.08 in the previous quarter[28] Cash Flow - Investment activities generated a net cash flow of CNY 45,759,986.20, an increase of 278.24% year-to-date[12] - Operating cash flow for the first nine months was 89,353,186.88 RMB, down from 213,685,151.86 RMB year-over-year[38] - The net cash flow from investment activities was 45,759,986.20 RMB, significantly higher than 12,098,229.78 RMB in the previous year[39] - The net cash flow from operating activities for the year-to-date is -2,539,771.09 RMB, a significant decrease compared to 12,339,349.46 RMB in the same period last year[42] - Cash inflow from investment activities totaled 34,140,000.00 RMB, with a net cash flow from investment activities of 34,126,100.00 RMB[42] - Cash outflow from financing activities amounted to 20,255,400.00 RMB, leading to a net cash flow from financing activities of -20,255,400.00 RMB[43] - The net increase in cash and cash equivalents for the period is 11,330,928.91 RMB, compared to 7,239,196.82 RMB in the previous year[43] - Cash and cash equivalents at the end of the period totaled 411,546,334.52 RMB, compared to 365,040,204.39 RMB at the end of the previous year[39] Shareholder Information - The company had a total of 20,785 shareholders at the end of the reporting period[9] - The largest shareholder, Wanxiang San Nong Group Co., Ltd., holds 48.76% of the shares[9] Legal and Regulatory Matters - The company is involved in a legal case regarding plant variety rights, with a court ruling requiring compensation of CNY 49.5 million[12] Operational Metrics - The company's inventory decreased significantly from CNY 165,933,214.88 to CNY 82,065,984.05, a reduction of approximately 50.5%[18] - The accounts payable decreased from CNY 16,383,119.67 to CNY 10,561,703.26, a decline of approximately 35.4%[19] - The company's retained earnings increased to CNY 141,878,044.50 from CNY 128,740,786.76, showing a growth of about 10.5%[20] - Management expenses increased to 3,200,255.18 RMB for the first nine months, compared to 2,225,729.25 RMB in the previous year[34] - The company recorded investment income of 14,944,289.33 RMB for the first nine months[34] Market and Product Developments - The company has not disclosed any new product launches or technological advancements during this reporting period[28] - There are no mentions of market expansion or mergers and acquisitions in the current report[28]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 121.82 million, a decrease of 13.42% compared to CNY 140.70 million in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2017 was CNY 25.89 million, down 9.07% from CNY 28.48 million year-on-year[15]. - The net cash flow from operating activities decreased by 54.29%, amounting to CNY 84.53 million compared to CNY 184.92 million in the previous year[15]. - The basic earnings per share for the first half of 2017 were CNY 0.115, a decrease of 11.54% from CNY 0.13 in the same period last year[16]. - The company's operating revenue decreased by 13.42% to ¥121,817,177.99 compared to ¥140,704,630.64 in the previous year[42]. - The operating costs also fell by 10.58% to ¥83,843,011.19 from ¥93,766,945.35 year-on-year[42]. - The net cash flow from operating activities dropped significantly by 54.29% to ¥84,532,137.00, down from ¥184,918,063.78[42]. - The net profit for the period was ¥27,017,075.03, down from ¥29,601,658.05, reflecting a decline of approximately 8.7% year-over-year[79]. - The net profit attributable to shareholders of the parent company was ¥25,894,838.56, compared to ¥28,478,841.98, a decrease of around 9.0% year-over-year[79]. - Operating profit was ¥27,275,436.79, slightly down from ¥29,156,271.65, indicating a decrease of about 6.4% year-over-year[78]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 814.65 million, an increase of 8.84% from CNY 748.51 million at the end of the previous year[15]. - The net assets attributable to shareholders increased by 6.87%, reaching CNY 457.94 million compared to CNY 428.52 million at the end of the previous year[15]. - Total current assets rose to ¥540,746,671.02 from ¥466,358,668.33, indicating an increase of about 15.9%[71]. - Non-current assets decreased slightly to ¥273,903,205.40 from ¥282,154,552.45, a decline of approximately 2.9%[71]. - Total liabilities rose to ¥306,670,715.21 compared to ¥301,691,134.60, indicating an increase of about 1.6%[72]. - Current liabilities totaled ¥278,516,761.61, slightly up from ¥273,537,181.00, showing an increase of around 1.4%[72]. - Long-term liabilities remained stable at ¥28,153,953.60, unchanged from the previous period[72]. Cash Flow and Investments - The net cash flow from investment activities increased significantly by 253.97% to ¥45,770,715.00 from ¥12,930,583.31[42]. - The cash inflow from investment activities amounted to 34,140,000.00 RMB, compared to 750,000.00 RMB in the previous period, indicating a substantial increase in investment returns[88]. - The total net increase in cash and cash equivalents for the first half of 2017 was 32,592,222.89 RMB, compared to 8,279,684.70 RMB in the same period last year[88]. - Cash and cash equivalents increased to ¥426,991,413.44 from ¥296,688,561.44, reflecting a growth of approximately 43.8%[71]. Market and Strategic Focus - The company is focusing on high-quality seed products and transitioning from a sales volume-centered approach to a profit-centered strategy[21]. - The corn seed industry is facing challenges due to reduced planting areas and increased competition, leading to a decrease in seed usage[22]. - The company faces market risks due to a decline in demand for corn seeds, despite a reduction in oversupply[48]. - The company plans to implement a premium strategy to enhance seed quality and brand effect, alongside establishing a market data analysis system[48]. Shareholder and Corporate Governance - The annual shareholders' meeting was held on May 18, 2017, and all resolutions passed were deemed valid[51]. - The top shareholder, Wanxiang Agricultural Group, holds 109,730,873 shares, representing 48.76% of the total shares[64]. - Gao Yaping reduced her holdings by 950,000 shares, now holding 3,928,535 shares, which is 1.75%[64]. - The company has not reported any significant changes in profit sources or major asset disposals outside of the aforementioned share transfer[44]. Legal and Compliance Issues - There is an ongoing legal dispute regarding the "Zheng 58" plant variety rights, which could impact future profits depending on the court's decision[48]. - The company is involved in a significant lawsuit regarding plant variety infringement, with a first-instance judgment requiring compensation of 49.5 million yuan and additional legal expenses of 20,000 yuan[54]. - The company has maintained a good integrity status during the reporting period, with no significant debts or court judgments unfulfilled[55]. Research and Development - Research and development expenses decreased by 33.47% to ¥4,394,041.57 from ¥6,604,976.93 due to reduced R&D on certain varieties[42]. - The company emphasizes the importance of independent research and development while also focusing on collaboration and licensing for new varieties[49]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern principle and comply with the relevant accounting standards[109]. - The company recognizes long-term prepaid expenses for costs related to fixed asset improvements that benefit multiple periods, amortized using the straight-line method[200]. - The company conducts impairment testing on long-term equity investments, fixed assets, and intangible assets when there are indications of impairment[197].

Financial Performance - In 2016, the company achieved a net profit of CNY 54,909,185.42, a significant increase of 867.03% compared to CNY 5,678,124.42 in 2015[20] - The company's operating revenue for 2016 was CNY 318,502,363.87, representing a decrease of 14.32% from CNY 371,715,892.15 in 2015[20] - The net cash flow from operating activities was CNY 141,002,440.84, an increase of 26.94% compared to CNY 111,079,995.71 in 2015[20] - The company's net profit for the year was calculated at ¥81,012,600, with a corporate income tax exemption amounting to ¥20,253,100 due to agricultural project incentives[101] - The company achieved a sales revenue of ¥318 million and a net profit of ¥58.83 million, capturing approximately 4% of the national corn seed market share[72] - Operating profit increased to CNY 50.98 million, representing a year-on-year growth of 181.99%[56] - The company reported a significant increase in sales volume for its main profitable varieties, with new high-profit varieties also seeing substantial sales growth, indicating a shift from a volume-centered to a profit-centered approach[74] - The company’s total comprehensive income for 2016 was CNY 56,540,975.05, compared to CNY 6,239,804.45 in the previous year[195] Assets and Liabilities - The total assets at the end of 2016 amounted to CNY 748,513,220.78, reflecting a growth of 12.00% from CNY 668,315,265.53 in 2015[20] - The total liabilities of the company were CNY 301,691,134.60, compared to CNY 272,184,001.76 at the beginning of the year, representing an increase of approximately 11%[188] - The company's current assets totaled CNY 466,358,668.33, up from CNY 361,617,304.90, indicating a growth of about 29%[187] - The company’s inventory decreased to CNY 165,933,214.88 from CNY 210,030,987.70, indicating a reduction of about 21%[187] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 19,535, an increase from 19,245 at the end of the previous month[153] - The controlling shareholder is Wanxiang Agricultural Group Co., Ltd., holding 48.76% of the shares[157] - The company has a significant stake in Hebei Chengde Lolo Co., Ltd., owning 40.68% of its shares[157] - The company distributed a cash dividend of 0.26 RMB per share to shareholders, totaling 5,850,152.64 RMB for the 2015 fiscal year[133] Research and Development - The company invested heavily in research and development, establishing a comprehensive corn breeding system and hiring a retired breeder from the U.S. for guidance[37] - R&D expenditure increased by 10.81% to CNY 16.58 million, reflecting ongoing investment in product development[58] - The company has obtained 10 new plant variety rights certificates, enhancing its intellectual property portfolio[41] - The company is actively adjusting breeding directions and product structures to focus on silage corn and suitable harvesting varieties in response to industry challenges[68] Marketing and Sales Strategy - The company emphasized a shift from a sales volume-centered approach to a profit-centered strategy, with significant sales growth in high-profit new varieties[35] - The company is actively exploring online sales models and leveraging social media to enhance brand visibility and customer engagement[33] - The company has developed a WeChat marketing strategy, resulting in 18,000 followers and over 800 articles published[52] - The company is expanding its sales channels through social media and mobile applications, while also strengthening brand promotion and market control[128] Operational Efficiency - The company has implemented a unified management approach in key regions to improve profitability and streamline operations[33] - The company reduced inventory significantly, leading to improved cash flow and financial health[49] - The company operates a tiered distribution model, with sales branches in major corn-producing areas, ensuring efficient product delivery to retailers[77] - The company has established a technical service team and a 400-technical service hotline to support farmers and distributors[38] Legal and Financial Risks - The company is facing market risks due to a decline in demand for corn seeds, despite a reduction in oversupply, and is also dealing with a legal dispute regarding the "Zheng 58" plant variety rights[129] - Financial risks are significant due to the seasonal nature of seed production and sales, with cash flow and inventory volatility requiring careful financial management[130] - The company is actively pursuing legal recourse in the "Zheng 58" plant variety rights dispute to mitigate potential negative impacts on future profits[129] Governance and Management - The board of directors consists of experienced professionals with backgrounds in finance, management, and engineering, enhancing the company's governance[166] - The company has a diverse board with independent directors contributing to strategic oversight[166] - The total remuneration for all directors, supervisors, and senior management in the reporting period was 884,700 RMB before tax[169] - The company has established a performance evaluation and incentive mechanism for senior management, focusing on a flexible employment system based on performance and value-driven principles[179]