股票代码：600381 股票简称：青海春天 公告编号：2023-018 青海春天药用资源科技股份有限公司 关于参加 2023 年青海辖区上市公司投资者网上集体接待日暨 2022 年度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法律责任。 重要内容提示： 会议召开时间：2023 年 6 月 2 日（星期五）14:00-17:00 会议召开地点："全景路演"（网址：https://rs.p5w.net） 会议召开方式：网络互动方式 为进一步加强与投资者的互动交流，青海春天药用资源科技股份有限公司（以下 简称"公司"）将参加由青海证监局、青海证券业协会与深圳市全景网络有限公司联 合举办的"2023 年青海辖区上市公司投资者集体接待日暨 2022 年度业绩说明会活动"， 现将相关事项公告如下： 一、活动概况 1.召开时间：2023 年 6 月 2 日（星期五）14:00-17:00 2.召开方式：网络远程方式 3.召开地点：投资者可登录"全景路演"网站（https://rs.p5w.net），或关注 微信公众号：全景财经 ...

股票代码：600381 股票简称：青海春天 公告编号：2023-018 一、活动概况 1.召开时间：2023 年 6 月 2 日（星期五）14:00-17:00 青海春天药用资源科技股份有限公司 关于参加 2023 年青海辖区上市公司投资者网上集体接待日暨 2022 年度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法律责任。 重要内容提示： 为进一步加强与投资者的互动交流，青海春天药用资源科技股份有限公司（以下 简称"公司"）将参加由青海证监局、青海证券业协会与深圳市全景网络有限公司联 合举办的"2023 年青海辖区上市公司投资者集体接待日暨 2022 年度业绩说明会活动"， 现将相关事项公告如下： 特此公告。 会议召开时间：2023 年 6 月 2 日（星期五）14:00-17:00 会议召开地点："全景路演"（网址：https://rs.p5w.net） 会议召开方式：网络互动方式 2.召开方式：网络远程方式 3.召开地点：投资者可登录"全景路演"网站（https://rs.p5w.net），或关注 微信公众 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥56,346,354.72, representing a decrease of 25.09% compared to the same period last year[5] - The net profit attributable to shareholders of the listed company was a loss of ¥28,718,503.69, with no applicable percentage change due to the loss[5] - The net cash flow from operating activities was a negative ¥27,687,230.10, primarily due to the decline in operating revenue[10] - Basic and diluted earnings per share were both -0.0489 yuan, with a weighted average return on equity of -1.89%, down by 0.59 percentage points year-on-year[6] - Net profit for Q1 2023 was a loss of CNY 27,835,471.27, compared to a loss of CNY 23,568,451.50 in Q1 2022, indicating a deterioration of about 18.5%[23] - The total comprehensive loss for Q1 2023 was CNY 27,835,471.27, compared to a loss of CNY 23,568,451.50 in Q1 2022, reflecting an increase in overall losses[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,555,335,295.75, a decrease of 0.25% from the end of the previous year[6] - Total assets as of March 31, 2023, were RMB 1,555,335,295.75, slightly down from RMB 1,559,229,152.99 at the end of 2022[18] - Total liabilities increased to ¥50,240,591.86 from ¥26,298,977.83, indicating a significant rise of 91.1%[17] - The company's equity attributable to shareholders decreased to RMB 1,504,213,068.71 from RMB 1,532,931,572.40, a decline of 1.9%[18] Revenue and Costs - Total operating revenue for Q1 2023 was RMB 56,346,354.72, a decrease of 25.1% compared to RMB 75,221,543.33 in Q1 2022[21] - Total operating costs for Q1 2023 were RMB 84,161,826.81, down from RMB 99,888,883.12 in Q1 2022, representing a reduction of 15.8%[21] - The decline in operating revenue was mainly attributed to a decrease in sales due to product upgrades in the beverage segment[10] - Total revenue from sales and services received in Q1 2023 was CNY 48,116,521.39, down from CNY 93,340,866.36 in Q1 2022, representing a decline of approximately 48.5%[24] Cash Flow and Investments - The company's cash and cash equivalents decreased to RMB 140,098,797.46 from RMB 168,690,449.60, a decline of 17%[15] - Cash and cash equivalents at the end of Q1 2023 were CNY 140,098,797.46, down from CNY 177,775,839.00 at the end of Q1 2022, a decrease of approximately 21.2%[26] - Investment cash inflow for Q1 2023 was CNY 20,038,652.91, significantly lower than CNY 136,614,403.68 in Q1 2022, a decrease of about 85.3%[26] Shareholder Information - The company reported a total of 56,195 common shareholders at the end of the reporting period[11] - The largest shareholder, Tibet Rong'en Technology Co., Ltd., held 33.07% of the shares, with a total of 194,115,194 shares[12] Expenses - The company reported a significant increase in sales expenses to RMB 49,895,221.00 from RMB 48,276,232.31, an increase of 3.4%[21] - R&D expenses for Q1 2023 were CNY 2,036,313.84, an increase from CNY 1,416,075.33 in Q1 2022, reflecting a growth of approximately 43.7%[22] - The company incurred financial expenses of CNY -251,507.36 in Q1 2023, compared to CNY -128,069.15 in Q1 2022, indicating an increase in financial costs[22] Other Income - Non-operating income included government subsidies of ¥184,197.38, while non-recurring losses from asset disposal amounted to ¥16,637.78[7] - The company received tax refunds amounting to CNY 142,116.61 in Q1 2023, compared to CNY 1,712.11 in Q1 2022, showing a significant increase in tax-related cash inflows[25]

Financial Performance - The company's consolidated net profit attributable to shareholders for 2022 was -287,548,928.51 RMB, while the parent company's net profit was -215,884,196.82 RMB[4]. - Total revenue for 2022 reached 160,178,078.61 RMB, representing a 25.37% increase compared to 2021[22]. - The net cash flow from operating activities was -31,821,162.74 RMB, showing an improvement from -63,933,807.38 RMB in the previous year[22]. - The total assets at the end of 2022 were 1,559,229,152.99 RMB, a decrease of 15.63% from the previous year[22]. - The net assets attributable to shareholders decreased by 15.80% to 1,532,931,572.40 RMB compared to the end of 2021[22]. - The net loss attributable to shareholders was 287.55 million RMB, with a non-GAAP net loss of 262.52 million RMB, indicating an increase in losses compared to the previous year[33]. - The company reported a total operating loss of 129.74 million RMB, accounting for 45.12% of the total losses, due to increased marketing expenses of 123.24 million RMB, which grew by 121.34%[37]. - The total comprehensive loss for 2022 was ¥287,550,325.75, compared to a loss of ¥248,610,919.96 in 2021, highlighting ongoing financial challenges[192]. Revenue Breakdown - The company reported a significant increase in revenue from core business activities, with a total of 155,045,737.02 RMB, up 34.52% from 2021[22]. - The company's operating revenue for 2022 was 160.18 million RMB, an increase of 25.37% year-on-year[33]. - The revenue from core business, after excluding unrelated income, was 155.05 million RMB, up 34.52% year-on-year[33]. - The health product segment, primarily focused on the sales of Cordyceps and traditional Chinese medicine, generated revenue of 4.17 million RMB, a year-on-year increase of 35.66%[37]. - The sales revenue from the liquor fast-moving consumer goods segment reached 93.64 million RMB, representing a year-on-year growth of 268.75%[36]. - The sales revenue from traditional Chinese medicine products, specifically the "Lifelong Tablets," grew by 35.66% to 41.69 million yuan[46]. - The sales of Cordyceps sinensis raw grass decreased by 66.63%, generating revenue of 19.71 million yuan[46]. Expenses and Costs - The company's marketing expenses surged by 121.34% to 123.24 million yuan, primarily due to increased market promotion costs in the fast-moving consumer goods sector[48]. - The company recognized asset impairment losses of 92.84 million RMB and credit impairment losses of 27.18 million RMB during the reporting period[33]. - Total operating costs for 2022 were ¥289,917,807.91, up 23.8% from ¥234,086,137.04 in 2021[191]. Research and Development - The research and development expenses increased by 19.29% to 11.38 million yuan, reflecting the company's commitment to innovation[48]. - The number of R&D personnel is 12, accounting for 6.9% of the total workforce[62]. - Research and development expenses increased to ¥11,377,981.32 in 2022, up from ¥9,538,458.61 in 2021, indicating a focus on innovation[194]. Governance and Compliance - The company has established a comprehensive internal governance system, ensuring compliance with laws and regulations while safeguarding shareholder interests and sustainable development[102]. - The board of directors has set up specialized committees to enhance governance and ensure effective decision-making processes[103]. - The company maintains independence from its controlling shareholders in business, financial, and operational aspects, ensuring fair treatment in related transactions[103]. - The company has established a series of regulations related to information management and disclosure, including the "Board Secretary Work System" and "Information Disclosure Management Measures," ensuring compliance with the Shanghai Stock Exchange's requirements[104]. - During the reporting period, the company did not experience any violations of information disclosure or insider trading activities[104]. Market and Strategic Initiatives - The company focused on the fast-moving consumer goods and health sectors, emphasizing innovation and product upgrades[33]. - The company plans to launch upgraded products "Sauce Aroma PLUS" and "Strong Aroma PLUS" in June 2023, which will feature at least 24 additional aroma notes and enhanced taste dimensions[35]. - The company has established joint ventures with local partners to expand sales channels, holding 51% equity in each of the new companies[36]. - The company aims to leverage the recovery of domestic consumption and pursue health-oriented product offerings, focusing on innovation in liquor quality and taste[93]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 68,470, an increase from 56,195 at the end of the previous month[156]. - The largest shareholder, Tibet Rong'en Technology Co., Ltd., holds 33.07% of the shares, amounting to 194,115,194 shares, with 151,110,000 shares pledged[158]. - The second-largest shareholder, Xiao Rong, holds 9.67% of the shares, totaling 56,762,789 shares, with 40,942,959 shares pledged[159]. Environmental and Social Responsibility - The company invested 468,000 RMB in environmental protection during the reporting period[136]. - The company is exploring solar power generation projects and plans to utilize idle factory roof resources for distributed photovoltaic power generation[138]. - The company has implemented measures to reduce carbon emissions, including using solar preheating systems and recovering boiler flue gas waste heat[138]. - The company actively participates in community public welfare activities and promotes a harmonious community[139]. - The company emphasizes product quality and environmental protection as part of its corporate social responsibility initiatives[139].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 105,386,164.77, representing a 124% increase compared to CNY 47,046,389.03 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY -48,938,842.58, slightly improved from CNY -49,712,620.37 in the previous year[18]. - The net cash flow from operating activities was CNY -16,235,416.51, an improvement from CNY -61,464,614.79 in the same period last year[19]. - The company reported a decrease in the diluted earnings per share to CNY -0.083 from CNY -0.085 year-on-year[20]. - The company achieved operating revenue of 105.39 million yuan, a year-on-year increase of 124%[34]. - The net profit attributable to shareholders was -48.94 million yuan, with a net profit excluding non-recurring items of -50.18 million yuan, showing a slight narrowing of losses[34]. - The company reported a total comprehensive income for the current period is CNY -35,527,726.33, indicating a loss compared to the previous period[122]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,791,655,400.27, down 3.06% from CNY 1,848,120,872.11 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 2.69% to CNY 1,771,541,658.33 from CNY 1,820,480,500.91 at the end of the previous year[19]. - Total liabilities decreased from CNY 27,640,371.20 to CNY 20,113,741.94, a reduction of approximately 27.4%[87]. - Current liabilities decreased from CNY 24,704,682.55 to CNY 17,543,053.33, a decline of about 29.1%[87]. - The total assets decreased from ¥1,718,647,399.86 at the end of 2021 to ¥1,683,639,417.03 at the end of June 2022, a decline of approximately 2.0%[92]. - The company's total equity decreased from ¥1,659,690,099.98 to ¥1,624,162,373.65, a reduction of approximately 2.1%[92]. Revenue Segments - The liquor fast-moving consumer goods segment generated revenue of 72.70 million, a significant year-on-year growth of 746.14%[28]. - The health products segment, primarily focused on Cordyceps, achieved revenue of 30.07 million, reflecting a year-on-year decline of 18.17% due to pandemic impacts[28]. - Operating revenue from sales of goods and services reached CNY 113,090,428.04, a significant increase from CNY 45,370,763.18 in the first half of 2021, representing a growth of approximately 149.5%[101]. Market and Strategic Initiatives - The company launched the "Duhua" series of mid-range liquor products, expanding its product line to meet consumer demand for healthier options[27]. - The company is focusing on strategic marketing to strengthen its high-end brand image and expand market presence[28]. - The company plans to establish product image stores in target cities to boost performance in the FMCG segment over the next 3 to 5 years[34]. - The company is enhancing its research capabilities in the liquor production process to improve health benefits and product competitiveness[28]. Risks and Challenges - The company faces risks from market competition, with increasing consumer demands for quality and potential misalignment in marketing strategies[47]. - The company is exposed to uncertainties due to ongoing pandemic control measures, which may impact operational goals[49]. - The management has indicated a cautious outlook for the upcoming quarters due to market uncertainties[119]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 53,789[76]. - The largest shareholder, Tibet Rong'en Technology Co., Ltd., holds 199,115,194 shares, accounting for 33.92% of total shares[78]. - The second-largest shareholder, Xiao Rong, holds 56,762,789 shares, representing 9.67% of total shares[78]. - The top ten shareholders include various entities, with the largest three holding a combined total of 285,231,983 shares, which is approximately 48.55% of total shares[78]. Environmental and Regulatory Compliance - The company has not faced any administrative penalties due to environmental issues during the reporting period[60]. - The company has implemented pollution control measures, including a new wastewater treatment facility that meets discharge standards[62]. Accounting and Financial Policies - The company adheres to the accounting policies and estimates as per the relevant accounting standards, including provisions for bad debts and inventory valuation methods[138]. - The company recognizes revenue when control of goods or services is transferred to customers, typically at the point of delivery[188]. - The company has a corporate income tax rate of 25%, with specific subsidiaries benefiting from reduced rates of 9% and 15% due to local government incentives[199].

Financial Performance - The company's operating revenue for Q1 2022 was ¥75,221,543.33, representing a significant increase of 270.40% compared to the same period last year[4] - The net profit attributable to shareholders of the listed company was -¥23,568,451.50, with a basic and diluted earnings per share of -¥0.0401[4] - The net loss for Q1 2022 was 23,568,451.50 RMB, compared to a net loss of 8,834,120.72 RMB in Q1 2021, reflecting a deterioration in profitability[19] - The total profit for Q1 2022 was -18,717,152.75 RMB, compared to -5,736,161.38 RMB in Q1 2021, indicating a significant increase in losses[27] - The basic and diluted earnings per share for Q1 2022 were both -0.0401 RMB, compared to -0.015 RMB in Q1 2021, indicating a worsening in earnings per share[20] Cash Flow - The net cash flow from operating activities was -¥21,460,326.43, indicating a negative cash flow situation[4] - The cash inflow from operating activities in Q1 2022 was 96,285,109.72 RMB, compared to 21,285,735.68 RMB in Q1 2021, showing an increase of approximately 353.5%[21] - The net cash flow from operating activities was -26,776,631.71 RMB in Q1 2022, slightly worse than -26,186,429.58 RMB in Q1 2021[29] - The net cash flow from investing activities was positive CNY 34,298,003.68, compared to negative CNY 71,063,637.39 in the same period last year[22] - The company reported cash inflows from investment activities of 124,607,473.33 RMB in Q1 2022, down from 315,631,864.35 RMB in Q1 2021[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,827,564,968.79, a decrease of 1.11% from the end of the previous year[5] - The total liabilities as of Q1 2022 amounted to 30,652,919.38 RMB, an increase from 27,640,371.20 RMB in the previous year, which is an increase of about 11.0%[17] - The total assets as of March 31, 2022, were CNY 1,698,549,591.61, a decrease from CNY 1,718,647,399.86 at the end of 2021[25] - The total liabilities as of March 31, 2022, were CNY 57,576,644.38, down from CNY 58,957,299.88 at the end of 2021[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 54,290[10] - The company reported a total of 199,115,194 shares held by Tibet Rong'en Technology Co., Ltd., representing 33.92% of total shares[12] - The top ten shareholders include significant holdings from individuals and entities, with the largest being Tibet Rong'en Technology Co., Ltd.[12] Revenue Sources - The increase in operating revenue was primarily driven by a substantial rise in sales from the liquor business, which generated ¥52,969,500, an increase of 1101.59%, and the traditional Chinese medicine sales, which brought in ¥11,631,200, an increase of 159.47%[8] - Total operating costs for Q1 2022 were 99,888,883.12 RMB, up from 37,257,278.46 RMB in Q1 2021, indicating an increase of about 168.5%[18] Research and Development - Research and development expenses for Q1 2022 were 1,416,075.33 RMB, compared to 1,738,289.21 RMB in Q1 2021, reflecting a decrease of about 18.5%[18] - The company has not disclosed any new product developments or market expansion strategies in this report[1] - The company has not disclosed any significant new product developments or market expansion strategies during this reporting period[13] Other Financial Metrics - Non-recurring gains and losses totaled ¥836,756.69 for the period, after accounting for tax effects[8] - The company incurred increased marketing expenses of approximately ¥36 million compared to the same period last year, contributing to the larger net loss[8] - The company did not report any cash inflows from financing activities in Q1 2022[29] - The company has not adopted the new accounting standards for the current year[30] - The board of directors announced the Q1 2022 results on April 29, 2022[31]

Financial Performance - The net profit attributable to the parent company for 2021 was -248,610,919.96 RMB, compared to -319,544,170.76 RMB in 2020, showing an improvement [4]. - The total revenue for 2021 was 127,764,006.01 RMB, a 2.81% increase from 124,266,266.02 RMB in 2020 [20]. - The basic earnings per share for 2021 was -0.42 RMB, an improvement from -0.54 RMB in 2020 [21]. - The cumulative distributable profits for the parent company at year-end were -1,897,160,340.87 RMB, indicating significant historical losses [4]. - The company did not propose any profit distribution for 2021 due to the negative retained earnings [4]. - The net profit attributable to shareholders was a loss of CNY 248.61 million, with a narrowed loss compared to the previous year [31]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 228.95 million, also showing a reduced loss compared to the previous year [31]. - The company reported a net loss of CNY 1,897,160,340.87 for 2021, compared to a net loss of CNY 1,713,697,697.41 in 2020, indicating a worsening of approximately 11% [198]. Assets and Liabilities - The company's total assets decreased by 16.23% to 1,848,120,872.11 RMB at the end of 2021, down from 2,206,170,959.18 RMB in 2020 [21]. - The company's net assets attributable to shareholders decreased by 12.02% to 1,820,480,500.91 RMB at the end of 2021 [21]. - The total liabilities were CNY 27,640,371.20, down from CNY 137,079,538.31, indicating a significant decrease of approximately 79.8% [193]. - The total equity attributable to shareholders decreased to CNY 1,820,480,500.91 from CNY 2,069,091,420.87, a decline of about 12.0% [194]. - The company's cash and cash equivalents decreased to CNY 164,940,911.51 from CNY 180,873,792.77, a decline of approximately 8.3% [192]. - The company's inventory decreased to CNY 337,322,985.22 in 2021 from CNY 401,569,038.95 in 2020, indicating a reduction of approximately 16% [197]. Cash Flow - The cash flow from operating activities for 2021 was -63,933,807.38 RMB, compared to -77,950,989.64 RMB in 2020, indicating a reduction in cash outflow [20]. - The company reported a net cash flow from operating activities of CNY 12.46 million in the fourth quarter, contrasting with negative cash flows in previous quarters [23]. - The cash flow from investment activities showed a significant improvement, with a net inflow of 48.66 million yuan compared to a net outflow of 18.14 million yuan in the previous year [48]. Revenue Segments - The company is focusing on expanding its fast-moving consumer goods (FMCG) segment, particularly in the high-end liquor market [30]. - The sales revenue from the "Tinghua" series of liquor reached 25.39 million yuan, representing a year-on-year growth of 50.51% [35]. - The revenue from traditional Chinese medicine reached ¥3,073.17 million, with a gross margin of 75.24%, an increase of 657.83% year-on-year [72]. - The company reported a revenue of 95.46 million yuan from its traditional health product segment, showing a year-on-year increase of 6.25% [36]. Research and Development - The company has made significant breakthroughs in brewing theory and technology for its new product line, the "Shengjin Baijiu" series [31]. - The company has developed a new brewing theory that activates both the sympathetic and parasympathetic nervous systems, aiming to reduce the harmful effects of alcohol [44]. - The company’s R&D expenses were ¥9,538,458.61, representing 7.47% of total revenue, with no capitalized R&D expenditures [61]. Market and Competition - The company has outlined potential risks in its future development plans, urging investors to be aware of these risks [7]. - The company acknowledges potential risks from policy changes, market competition, and internal management, and plans to mitigate these through improved decision-making and quality control [94]. - The company is actively expanding its market presence despite challenges posed by the pandemic, focusing on consumer engagement and channel development [35]. Corporate Governance - The company has established a comprehensive internal governance system to ensure the protection of shareholder rights and sustainable development [98]. - The supervisory board consists of three members, ensuring compliance with the company's articles of association and effective oversight of operations and financial matters [99]. - The company received a B rating for its information disclosure practices from the Shanghai Stock Exchange, with no incidents of insider trading reported during the reporting period [100]. Environmental Responsibility - Environmental protection measures include the construction of wastewater treatment facilities, with all facilities operating normally and meeting discharge standards [135]. - The company has implemented measures to reduce carbon emissions by improving energy efficiency and utilizing clean energy sources [139]. - The company actively participated in environmental protection activities, including World Environment Day, promoting the theme of "Harmony between Man and Nature" [138].

Financial Performance - The company's operating revenue for Q3 2021 was ¥34,429,194.75, representing a year-on-year increase of 19.74%[3] - The net profit attributable to shareholders was a loss of ¥10,288,081.35, with no applicable year-on-year comparison[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥11,360,652.59, with no applicable year-on-year comparison[3] - The company reported a year-to-date operating revenue of ¥81,475,583.78, which is an increase of 30.56% compared to the same period last year[3] - The company reported a net profit margin of approximately -54.5% for the first three quarters of 2021, compared to -24.5% in the same period of 2020[17] - In Q3 2021, the company reported a net loss of CNY 60,000,701.72, compared to a net loss of CNY 103,262,609.38 in Q3 2020, representing a 42% improvement year-over-year[19] - The company's operating profit for Q3 2021 was a loss of CNY 60,199,300.55, which is an improvement from a loss of CNY 105,984,907.61 in Q3 2020[20] - The company reported a basic and diluted earnings per share of CNY -0.102 for Q3 2021, an improvement from CNY -0.176 in Q3 2020[20] Assets and Equity - The total assets at the end of the reporting period were ¥2,022,671,849.17, a decrease of 8.32% compared to the end of the previous year[4] - As of September 30, 2021, total assets amounted to ¥2,022,671,849.17, down from ¥2,206,170,959.18 at the end of 2020, reflecting a decrease of 8.3%[15] - Current assets totaled ¥1,104,726,939.06 as of September 30, 2021, compared to ¥1,243,254,077.67 at the end of 2020, indicating a decline of 11.1%[14] - The total equity attributable to shareholders was ¥2,009,090,719.15 as of September 30, 2021, down from ¥2,069,091,420.87 at the end of 2020, representing a decrease of 2.9%[16] Operating Costs and Expenses - Total operating costs for the first three quarters of 2021 were ¥123,708,792.53, a decrease of 9.8% from ¥137,216,346.54 in the first three quarters of 2020[17] - The total operating expenses for Q3 2021 were CNY 155,102,874.35, compared to CNY 147,081,358.42 in Q3 2020, reflecting an increase of about 5.5%[21] - Research and development expenses decreased to CNY 7,065,729.77 in Q3 2021 from CNY 9,780,099.89 in Q3 2020, indicating a reduction of about 28%[20] - The company experienced a reduction in marketing and employee compensation expenses, contributing to a decrease in losses[8] Cash Flow and Investments - The net cash flow from operating activities for the first three quarters of 2021 was a negative CNY 76,397,539.44, an improvement from a negative CNY 86,795,330.62 in the same period of 2020[21] - The company generated CNY 827,426,063.34 in cash inflow from investment activities in Q3 2021, compared to CNY 310,219,585.42 in Q3 2020, marking a significant increase of approximately 166.5%[21] - The cash and cash equivalents at the end of Q3 2021 stood at CNY 172,727,378.60, a decrease from CNY 41,140,438.85 at the end of Q3 2020[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 58,650[10] Market and Product Development - The company has not disclosed any new product developments or market expansion strategies in the current report[12] - There are no significant mergers or acquisitions reported during the quarter[12] Inventory and Other Assets - Inventory as of September 30, 2021, was ¥461,303,966.41, an increase of 4.7% from ¥440,431,046.55 at the end of 2020[14] - The company's cash and cash equivalents stood at ¥172,727,378.60, a decrease of 4.3% from ¥180,873,792.77 at the end of 2020[14] - The weighted average return on equity was -0.50%, an increase of 1.16 percentage points compared to the previous year[4]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥47,046,389.03, representing a 39.81% increase compared to ¥33,650,800.12 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥49,712,620.37, an improvement from -¥64,452,790.41 in the previous year[20]. - The basic earnings per share for the first half of 2021 was -¥0.085, an improvement from -¥0.110 in the same period last year[21]. - The total profit (loss) for the first half of 2021 was -¥49.94 million, an improvement from -¥67.17 million in the first half of 2020, indicating a reduction of approximately 25.6%[79]. - The company reported a net loss in the first half of 2021, with undistributed profits at CNY -1,742,321,686.66, compared to CNY -1,713,697,697.41 in the previous period[75]. - The company reported a net loss attributable to shareholders of 49,712,600 RMB, although this represented a significant narrowing of losses compared to the previous year[30]. Cash Flow and Investments - The net cash flow from operating activities was -¥61,464,614.79, slightly worse than -¥61,393,520.82 in the same period last year[20]. - The company’s cash flow from investment activities improved significantly, with a net inflow of 68,408,171.06 RMB, compared to a net outflow of 164,061,514.70 RMB in the previous year[32]. - Investment cash inflow for the first half of 2021 reached CNY 663,485,581.06, compared to CNY 246,546,877.78 in the same period of 2020, marking an increase of approximately 168.5%[85]. - The total cash and cash equivalents at the end of the first half of 2021 was CNY 187,773,115.43, up from CNY 51,780,901.24 at the end of the first half of 2020[85]. - The company reported a cash inflow from investment recovery of CNY 645,500,000.00 in the first half of 2021, compared to CNY 244,022,986.30 in the same period of 2020, an increase of approximately 164.5%[85]. Assets and Liabilities - The total assets decreased by 7.71% to ¥2,036,079,288.15 from ¥2,206,170,959.18 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 2.4% to ¥2,019,378,800.50 from ¥2,069,091,420.87 at the end of the previous year[20]. - The company's total liabilities decreased to CNY 16,700,487.65 from CNY 137,079,538.31, a significant reduction of approximately 87.8%[72]. - The company reported a significant decrease in receivables, with a total of 20,830.84 million, down 85.88% from the previous year[35]. - The company’s total liabilities decreased by 96.48%, amounting to 4,297.15 million, primarily due to payments made[35]. Revenue Segments - The revenue from the health products segment, primarily winter worm and summer grass products, reached 36,750,000 RMB, up 67.99% year-on-year[30]. - The fast-moving consumer goods segment, focusing on the "Tinghua" series of premium business wines, generated revenue of 859.17 RMB, an increase of 29.96%[30]. - Total operating costs for the first half of 2021 amounted to CNY 77,671,521.76, compared to CNY 70,373,363.62 in the first half of 2020, indicating an increase of about 10.2%[77]. - Operating costs included CNY 26,029,873.68 in cost of goods sold, up from CNY 24,472,328.92, reflecting a rise of approximately 6.4%[77]. Research and Development - Research and development expenses increased by 86.67% to 4,069,213.60 RMB, reflecting a rise in investment in product development[32]. - The company is focusing on optimizing product forms and brand promotion strategies based on consumer feedback from product testing[30]. - The company aims to enhance its market expansion and product development strategies moving forward, although specific figures were not disclosed in the report[80]. Risks and Challenges - The company has outlined potential risks in its operations, including external environmental risks and internal management risks[6]. - The company anticipates risks from market competition and policy changes, which may impact its strategic development and operational plans[40]. - The company is focusing on improving its operational efficiency to mitigate losses in the upcoming quarters[98]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 54,030, with no preferred shareholders[62]. - The top shareholder, Tibet Rong'en Technology Co., Ltd., holds 228,468,394 shares, representing 38.92% of the total shares, with a reduction of 11,700,000 shares during the reporting period[63]. - The profit distribution plan for the half-year indicates no dividends or stock bonuses, with a proposal of 0 shares for every 10 shares held[48]. Corporate Governance - There were no changes in the company's board of directors, supervisors, or senior management during the reporting period[49]. - The company held its 2020 annual general meeting on May 31, 2021, where 13 resolutions were approved, including the 2020 annual report and profit distribution plan[47]. Accounting Policies - The financial statements are prepared based on the going concern assumption, with no significant doubts about the company's ability to continue operations[123]. - The company follows specific accounting policies for bad debt provisions, inventory valuation, and revenue recognition[124]. - The company recognizes revenue when it fulfills its performance obligations, typically at the point of customer acceptance for goods sold[178].

Financial Performance - Operating revenue increased by 58.05% to CNY 20,308,445.82 compared to the same period last year[6] - Net profit attributable to shareholders was a loss of CNY 8,834,120.72, improving from a loss of CNY 17,853,349.51 in the previous year[6] - Total operating revenue for Q1 2021 was CNY 20,308,445.82, an increase of 58.5% compared to CNY 12,849,304.47 in Q1 2020[25] - Net loss for Q1 2021 was CNY -8,834,120.72, an improvement from a net loss of CNY -17,853,349.51 in Q1 2020[26] - Basic and diluted earnings per share for Q1 2021 were both CNY -0.0150, an improvement from CNY -0.0304 in Q1 2020[27] - The total comprehensive income for Q1 2021 was -5,736,161.38 RMB, an improvement from -9,607,733.40 RMB in Q1 2020, indicating a 40% reduction in comprehensive losses[31] Assets and Liabilities - Total assets decreased by 5.94% to CNY 2,075,097,934.09 compared to the end of the previous year[6] - The total assets as of March 31, 2021, were 2,075,097,934.09 RMB, down from 2,206,170,959.18 RMB at the end of 2020[19] - Total liabilities decreased from 137,079,538.31 RMB to 14,840,633.94 RMB, indicating a significant reduction in financial obligations[20] - Total liabilities for Q1 2021 were CNY 73,088,399.00, a decrease from CNY 195,567,573.01 in the previous period[23] - The company's equity attributable to shareholders decreased slightly from 2,069,091,420.87 RMB to 2,060,257,300.15 RMB[21] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 28,907,921.92, an improvement from the previous year's outflow of CNY 32,443,289.33[6] - Operating cash flow for Q1 2021 was -28,907,921.92 RMB, slightly better than -32,443,289.33 RMB in Q1 2020, showing a 10% improvement in cash flow losses[32] - Cash inflow from operating activities totaled 21,285,735.68 RMB in Q1 2021, compared to 5,577,430.75 RMB in Q1 2020, representing a significant increase of 281%[32] - Cash outflow from operating activities was 50,193,657.60 RMB in Q1 2021, up from 38,020,720.08 RMB in Q1 2020, reflecting a 32% increase in cash expenditures[32] - The net cash flow for Q1 2021 was significantly impacted by investment recoveries, resulting in a cash flow of -71,063,637.39 RMB compared to -183,775,226.73 RMB in Q1 2020, indicating a substantial improvement[15] Investment and Expenses - Research and development expenses rose by 116.82% to CNY 1,738,289.21, indicating increased investment in innovation[14] - The company reported a significant increase in investment income, which rose to CNY 767,388.28, up 2,018.25% from the previous year[14] - The company reported a significant increase in sales expenses, totaling CNY 8,252,479.79 in Q1 2021 compared to CNY 8,442,090.35 in Q1 2020[26] - Research and development expenses for Q1 2021 amounted to CNY 1,738,289.21, compared to CNY 801,726.53 in Q1 2020, reflecting a 116.5% increase[26] Shareholder Information - The number of shareholders reached 51,549, with the top ten shareholders holding a combined 66.78% of shares[11] Government Support - The company received government subsidies amounting to CNY 458,184.44, contributing to other income growth of 101.05%[14] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[13]