新疆天润乳业股份有限公司 证券代码：600419 证券简称：天润乳业 公告编号：临 2021-030 新疆天润乳业股份有限公司关于 参加 2021 年新疆辖区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新疆天润乳业股份有限公司（以下简称 "公司"）的基本情况、发展战略、经营状况、融资计划、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 年新疆辖区投资者网上集体接待日暨上市公 司业绩说明会活动。现将有关事项公告如下： 一、参与方式及时间 本次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）， 参与公司本次活动，活动时间为 2021 ...

Financial Performance - Total revenue for Q1 2021 reached CNY 462,789,932.75, an increase of 33.19% compared to CNY 347,454,023.83 in the same period last year[5] - Net profit attributable to shareholders was CNY 33,435,567.68, representing a 69.40% increase from CNY 19,737,899.73 year-on-year[5] - Profit before tax surged by 89.93% to CNY 39,323,138.49, driven by higher sales and revenue growth[9] - The net profit attributable to shareholders for the same period was CNY 33.44 million, reflecting a positive performance[10] - Net profit for Q1 2021 was ¥36,233,170.20, compared to ¥18,734,043.83 in Q1 2020, indicating a year-over-year increase of 93.5%[22] Research and Development - The company reported a significant increase in R&D expenses, which rose by 290.19% to CNY 1,534,580.41, reflecting enhanced investment in product development[9] - Research and development expenses for Q1 2021 were ¥1,534,580.41, significantly higher than ¥393,288.98 in Q1 2020, marking a 290.5% increase[21] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -10,175,514.31, an improvement from CNY -55,262,422.15 in the same period last year[5] - The cash flow from operating activities showed a net outflow of ¥10,175,514.31 in Q1 2021, an improvement from a net outflow of ¥55,262,422.15 in Q1 2020[29] - The cash inflow from operating activities totaled ¥483,228,344.62 in Q1 2021, compared to ¥370,819,433.53 in Q1 2020[28] - The ending cash and cash equivalents balance was $310.23 million in Q1 2021, down from $486.71 million in Q1 2020[32] Operating Costs - The company experienced a 49.59% increase in operating costs, totaling CNY 374,972,348.82, primarily due to increased sales volume[9] - The cost of goods sold for Q1 2021 was ¥374,972,348.82, up from ¥250,662,314.07 in Q1 2020, representing a 49.6% increase[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,580,158,252.45, a slight decrease of 0.39% from CNY 2,590,315,396.00 at the end of the previous year[5] - Total liabilities as of March 31, 2021, were CNY 820.26 million, compared to CNY 866.65 million at the end of 2020[16] - Total assets as of the end of Q1 2021 amounted to ¥1,872,691,035.26, a slight increase from ¥1,854,665,119.75 at the end of Q1 2020[19] - Total liabilities for Q1 2021 were ¥518,351,406.77, compared to ¥494,479,965.15 in Q1 2020, reflecting a 4.3% increase[19] Shareholder Information - The number of shareholders reached 33,827, indicating a stable shareholder base[8] - The company's equity attributable to shareholders was CNY 1.60 billion, an increase from CNY 1.57 billion at the end of 2020[16] Inventory Management - The company reported a decrease in inventory to CNY 237.75 million from CNY 284.09 million at the end of 2020, indicating improved inventory management[15] Future Outlook - The company has not indicated any significant changes in its future outlook or major new strategies during the reporting period[10]

Financial Performance - The company reported a distributable profit of RMB 174,812,293.12 as of December 31, 2020, and plans to distribute a cash dividend of RMB 1.65 per 10 shares, totaling RMB 44,318,890.61[7]. - The company's operating revenue for 2020 was CNY 1,767,673,596.18, an increase of 8.67% compared to CNY 1,626,592,714.47 in 2019[24]. - The net profit attributable to shareholders for 2020 was CNY 147,434,228.38, reflecting a growth of 5.62% from CNY 139,583,335.57 in 2019[24]. - The net cash flow from operating activities decreased by 8.83% to CNY 218,115,597.06 in 2020 from CNY 239,228,171.43 in 2019[24]. - The total assets at the end of 2020 reached CNY 2,590,315,396.00, a 27.93% increase from CNY 2,024,801,084.11 at the end of 2019[24]. - The basic earnings per share for 2020 was CNY 0.56, down 16.42% from CNY 0.67 in 2019[25]. - The weighted average return on equity decreased by 4.53 percentage points to 9.99% in 2020 from 14.52% in 2019[25]. - The company achieved a total sales volume of 198,302.28 tons in 2020, representing a year-on-year growth of 4.81%[67]. - The company's total operating revenue for the reporting period was approximately RMB 1.76 billion, with a year-on-year increase of 8.62%[82]. Dividend Policy - The company implemented a cash dividend policy, distributing a total of 42,170,095.91 RMB in cash dividends for 2019, which represents 30.21% of the net profit attributable to shareholders[103]. - For the year 2020, the company plans to distribute 44,318,890.61 RMB in cash dividends, maintaining a payout ratio of 30.06% of the net profit attributable to shareholders[103]. - The cash dividend per 10 shares for 2019 was 1.57 RMB, while for 2020 it is set at 1.65 RMB[103]. - The company has a three-year shareholder return plan from 2019 to 2021, approved by the board and shareholders[103]. - The company has committed to maintaining stable returns to shareholders based on operational performance and funding needs[104]. Risk Management - The company has detailed risk factors and countermeasures in the report, particularly in the section discussing future development[10]. - The company has a comprehensive risk disclosure in the report, highlighting potential challenges ahead[10]. - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors[8]. - The company has established comprehensive health and safety protocols to mitigate risks associated with livestock diseases, ensuring the quality and quantity of milk production[100]. - The company is preparing for potential natural disasters by securing feed supplies and implementing protective measures for its dairy farms[100]. Innovation and R&D - The company has 45 national authorized patents, including 6 invention patents, showcasing its strong innovation capabilities[37]. - The company increased its R&D expenses by 64.16% to CNY 5.22 million, reflecting a commitment to product innovation[63]. - The company plans to invest in technological innovation by collaborating with research institutions to enhance its R&D capabilities and establish a robust "big R&D" platform[97]. - The company is focusing on innovation and product upgrades to enhance market share and meet consumer demand[91]. Market Expansion and Sales Strategy - The company has expanded its sales network, establishing 365 dedicated stores for its products and enhancing its marketing strategies to improve brand recognition[45]. - The company plans to continue expanding its market presence outside Xinjiang, targeting major retail chains in regions like Guangzhou and East China[39]. - The online sales channel has become increasingly important for dairy companies, driven by the pandemic and changing consumer behavior[90]. - The company plans to achieve a sales volume of 220,000 tons of dairy products and an expected revenue of 2 billion RMB in 2021[95]. Corporate Governance - The company has established a sound corporate governance structure, aligning with the requirements of the Company Law and relevant regulations[182]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements[181]. - The company has maintained a consistent structure in its board and management team without any changes in shareholding[162]. - The overall governance structure remains stable, with no reported conflicts of interest among board members[165]. Social Responsibility - The company has established a long-term mechanism for poverty alleviation, focusing on "industrial poverty alleviation and employment promotion" to enhance the development capabilities of impoverished populations[124]. - The company donated 100 selected bulls to a cooperative in the 47th regiment, contributing to the adjustment of the local industrial structure and increasing income for minority workers[124]. - The company donated 7,000 boxes of dairy products to support frontline medical staff during the COVID-19 pandemic[130]. - The company actively participates in social welfare activities, including donating milk to improve nutrition for children in impoverished areas[133]. Environmental Management - The company is focused on environmental protection, ensuring that wastewater discharge meets national standards without exceeding limits in 2020[135]. - The company has established wastewater treatment facilities with a capacity of 2,500 tons per day for Tianrun Technology and 960 tons per day for Shawan Gary, both operating smoothly[136]. - The company has implemented self-monitoring plans for wastewater, waste gas, and noise, detailing monitoring projects and methods[139]. Audit and Compliance - The company’s financial report has been audited by Sigma Accounting Firm, which issued a standard unqualified opinion[6]. - The audit report issued by Sigma Accounting Firm provided a standard unqualified opinion on the financial statements[192]. - The company has not encountered any major accounting errors that require correction[110]. - The company has complied with the Chinese accounting standards in preparing its financial statements[194].

Financial Performance - Net profit attributable to shareholders rose by 2.17% to CNY 120,228,168.53 year-on-year[8] - Operating revenue for the year-to-date reached CNY 1,318,735,400.65, an increase of 8.34% compared to the same period last year[8] - The basic earnings per share decreased by 19.15% to CNY 0.4593 due to an increase in total shares outstanding[8] - For the first three quarters of 2020, the company achieved operating revenue of 1,318.74 million yuan, with a net profit attributable to shareholders of 120.23 million yuan[14] - The sales volume of dairy products reached 146,800 tons during the same period[14] Assets and Liabilities - Total assets increased by 25.55% to CNY 2,542,106,999.69 compared to the end of the previous year[8] - Cash and cash equivalents increased by 193.21% to CNY 420,284,048.26 due to funds raised from a public offering[12] - Accounts receivable rose by 83.11% to CNY 87,393,008.73, primarily due to delayed payments for student milk and nursing project milk[12] - Construction in progress increased by 133.41% to CNY 137,140,744.83, attributed to increased investments in the subsidiary Tianrun Tangwang City[12] - Tax payable increased by 33.68% to 11.87 million yuan, attributed to the rise in operating income[14] - Other payables increased by 38.95% to 140.56 million yuan, driven by higher material and promotional expenses[14] Cash Flow - Cash flow from operating activities decreased by 2.77% to CNY 99,385,481.64 year-to-date[8] - Cash flow from financing activities surged by 353.52% to 379.11 million yuan, primarily from the public issuance of shares[14] Shareholder Information - The number of shareholders increased to 27,874 by the end of the reporting period[10] - The company's capital reserve increased by 74.54% to 878.66 million yuan due to the funds raised from the public issuance of shares[14] Expenses - Sales expenses rose by 39.05% to 181.11 million yuan, mainly due to increased transportation costs[14] - The weighted average return on equity decreased by 3.92 percentage points to 8.21%[8]

Financial Performance - Operating revenue for the first nine months reached CNY 1,318,735,400.65, an increase of 8.34% year-on-year[5] - Net profit attributable to shareholders was CNY 120,228,168.53, reflecting a growth of 2.17% compared to the same period last year[5] - Total operating revenue for Q3 2020 reached ¥435,782,982.56, an increase of 10.7% compared to ¥393,736,662.07 in Q3 2019[22] - Net profit for the first three quarters of 2020 was ¥187,823,302.83, compared to ¥76,518,176.94 in the same period of 2019, indicating a significant growth[20] - The total profit for Q3 2020 was ¥47,656,539.82, compared to ¥46,815,535.19 in Q3 2019, indicating an increase of 1.8%[24] Assets and Liabilities - Total assets increased by 25.55% year-on-year to CNY 2,542,106,999.69[5] - The company’s total assets amounted to ¥2,542,106,999.69, compared to ¥2,024,801,084.11 at the end of the previous year[16] - The company’s total liabilities were reported at ¥847,512,892.74, showing a slight increase from the previous year[16] - The total liabilities decreased to ¥487,566,231.19 from ¥609,129,880.39, indicating improved financial health and reduced leverage[20] Shareholder Information - The total number of shareholders reached 27,874 by the end of the reporting period[7] - The largest shareholder, Xinjiang Production and Construction Corps, holds 29.48% of the shares[7] Cash Flow - Cash flow from operating activities for the first nine months was CNY 99,385,481.64, a decrease of 2.77% year-on-year[5] - The net cash flow from operating activities was CNY 68,413,849.47, a decrease of 39.1% compared to CNY 112,203,840.40 in the same period last year[32] - Cash inflow from financing activities reached CNY 538,028,400.54, significantly higher than CNY 60,000,000.00 in the same quarter last year[32] - The net cash flow from financing activities was CNY 430,837,080.06, compared to CNY 36,973,590.99 in the previous year, indicating a substantial increase[32] Investment and Capital Expenditure - The company invested CNY 242,336,207.70 in fixed assets, intangible assets, and other long-term assets during the first three quarters of 2020, up from CNY 214,139,236.18 in 2019[30] - Cash paid for purchasing fixed assets and other long-term assets was CNY 396,223,445.41, compared to CNY 146,000,000.00 in the same period last year[32] Earnings Per Share - Basic earnings per share decreased by 19.15% to CNY 0.4593 due to an increase in total shares from 207,114,418 to 268,599,337[5] - The basic earnings per share for Q3 2020 was ¥0.1493, down from ¥0.1936 in Q3 2019, reflecting a decrease of 22.8%[24] Research and Development - Research and development expenses for Q3 2020 were ¥941,614.54, up from ¥666,313.12 in Q3 2019, indicating a focus on innovation and product development[22] Other Financial Metrics - The weighted average return on equity decreased by 3.92 percentage points to 8.21%[5] - The company reported a loss of CNY 3,843,415.41 from the disposal of non-current assets in Q3[7] - The company’s cash and cash equivalents saw a significant increase, contributing to improved liquidity and operational flexibility[20]

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2020, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders reached RMB 80 million, up 20% compared to the same period last year[19] - The company's operating revenue for the first half of the year reached ¥882,952,418.09, representing a year-on-year increase of 7.22% compared to ¥823,470,988.40 in the same period last year[20] - The net profit attributable to shareholders was ¥80,137,836.98, a 3.32% increase from ¥77,563,271.73 in the previous year[20] - The company achieved a revenue of 883 million yuan and a net profit of 80.14 million yuan in the first half of 2020, representing a year-on-year growth of 7.22% and 3.32% respectively[40] - The net profit for the first half of 2020 was CNY 80.68 million, slightly up from CNY 79.98 million in the same period last year, indicating a growth of about 0.87%[109] - The company reported a total comprehensive income of CNY 155,594,818.83 for the first half of 2020, compared to CNY 1,130,438.52 in the same period of 2019[112] Assets and Liabilities - The company’s total assets as of June 30, 2020, amounted to RMB 1.2 billion, reflecting a growth of 10% year-on-year[19] - The company's total assets increased by 25.77% to ¥2,546,567,612.72 from ¥2,024,801,084.11 at the end of the previous year[20] - The company's current assets reached CNY 890,490,484.83, up from CNY 463,892,333.87 at the end of 2019, indicating a significant increase of about 92%[100] - Total liabilities stood at CNY 851,033,672.56, slightly up from CNY 846,674,565.84 at the end of 2019, indicating a marginal increase of about 0.4%[102] - The company's equity attributable to shareholders increased to CNY 1,543,208,451.57 from CNY 1,026,346,119.83, marking a growth of approximately 50.1%[102] Cash Flow - The net cash flow from operating activities decreased by 29.56%, amounting to ¥87,990,988.64 compared to ¥124,922,848.06 in the same period last year[20] - The company reported a net cash flow from operating activities of 87.99 million yuan, a decrease of 29.56% compared to the previous year[40] - The total cash inflow from financing activities was CNY 538,028,400.54, compared to CNY 60,000,000.00 in the same period of 2019[115] - The total cash and cash equivalents at the end of the period stood at ¥552,956,233.48, compared to ¥190,062,805.20 at the end of the first half of 2019, reflecting a growth of 190.5%[118] Market Expansion and Product Development - User data indicated an increase in customer base by 25%, with active users reaching 1 million[19] - The company plans to launch two new dairy products in Q3 2020, aiming to capture a larger market share[19] - The company is expanding its market presence outside Xinjiang, with products now available in major chain supermarkets in Guangzhou and other regions[37] - The company launched several new products in the first half of 2020, including honey mango yogurt and 950ml fresh milk, to enhance market share through differentiated flavors and innovative packaging[34] Risk Management - The company has identified key risks including market competition and supply chain disruptions, which are detailed in the risk assessment section[19] - The company faces market competition risks in the dairy industry, which is characterized by intense competition among various enterprises[57] - Fluctuations in the prices of raw materials, such as raw milk and packaging materials, pose a risk to the company's gross profit margins and overall performance[57] - The ongoing COVID-19 pandemic presents uncertainties regarding its impact on the company's future operations, prompting the company to adapt its marketing strategies and enhance innovation[59] Quality Control and Compliance - The company emphasizes the importance of stable and safe milk sources, with 16 owned pastures ensuring quality and supply stability[32] - The company maintains a 100% quality pass rate for raw milk, with strict quality control measures in place, including a dedicated quality supervision team for feed procurement[35] - The company emphasizes a full-process quality monitoring system from raw milk sourcing to consumer end, ensuring high product quality through advanced testing equipment[36] - The company has implemented comprehensive quality management systems to mitigate product quality risks and ensure compliance with food safety regulations[57] Corporate Governance and Shareholder Relations - The board has approved a profit distribution plan, although no specific dividend payout is proposed for this period[19] - The company did not propose any profit distribution or capital reserve fund transfer plan for the half-year period[64] - The company has committed to maintaining the rights and interests of all shareholders and ensuring compliance with relevant laws and regulations regarding related transactions[66] - The company guarantees to fulfill its obligations as a major shareholder of Tianrun Dairy, ensuring no harm to other shareholders' interests[65] Environmental Responsibility - The average concentration of chemical oxygen demand (COD) from the company's wastewater discharge was reported at 39.13 mg/L, with a total discharge of 31.78 tons in the first half of 2020, adhering to the secondary standards of wastewater discharge[77] - The company has implemented a wastewater treatment system with a capacity of 2,500 tons per day, ensuring stable operation and compliance with environmental standards[79] - The company is committed to integrating social responsibility with business performance, focusing on sustainable development in the region[75] Financial Reporting and Compliance - The financial statements comply with the requirements of the enterprise accounting standards, accurately reflecting the company's financial position and operating results[143] - The company confirmed that the changes in accounting policies will not have a significant impact on its financial position, operating results, or cash flows[84] - The company reported no significant accounting errors that required restatement during the reporting period[85] - The company has not disclosed any new product or technology developments in this report[87]

新疆天润乳业股份有限公司 证券代码：600419 证券简称：天润乳业 公告编号：临 2020-042 新疆天润乳业股份有限公司 关于参加 2020 年新疆辖区上市公司 投资者集体接待日活动的公告 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新疆天润乳业股份有限公司（以下简称 "公司"）的基本情况、发展战略、经营状况、融资计划、可持续发展等投资者 所关心的问题，公司定于 2020 年 6 月 24 日下午 15:00-17:30 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 2020 年新疆辖区上市公司投资 者集体接待日活动。现将有关事项公告如下： 一、本次集体接待日参与方式及时间 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 • 路 演 天 下 " 网 站 （http://rs.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 ...

Financial Performance - Operating revenue decreased by 0.07% to CNY 347,454,023.83 compared to the same period last year[4] - Net profit attributable to shareholders decreased by 36.17% to CNY 19,737,899.73 compared to the same period last year[4] - The total profit for Q1 2020 was CNY 20,704,374.74, a decrease of 43.81% compared to the previous year[10] - Net profit attributable to shareholders was CNY 19,737,899.73, down 36.17% year-on-year[10] - Total operating revenue for Q1 2020 was CNY 347,454,023.83, a slight decrease of 0.07% compared to CNY 347,690,617.43 in Q1 2019[20] - Net profit for Q1 2020 was CNY 18,734,043.83, down 40.6% from CNY 31,497,589.62 in Q1 2019[21] - The company's revenue for Q1 2020 was CNY 143,714,513.90, an increase of 10.4% compared to CNY 129,640,676.39 in Q1 2019[23] - Operating profit for Q1 2020 was CNY 4,040,769.30, a significant improvement from a loss of CNY 392,015.59 in Q1 2019[24] - Net profit for Q1 2020 reached CNY 4,001,246.66, compared to a net loss of CNY 392,015.59 in the same period last year[24] - The total comprehensive income for Q1 2020 was CNY 4,001,246.66, reversing from a loss of CNY 392,015.59 in Q1 2019[24] Assets and Liabilities - Total assets increased by 20.00% to CNY 2,429,768,837.50 compared to the end of the previous year[4] - Current assets totaled CNY 851,936,437.09 as of March 31, 2020, compared to CNY 463,892,333.87 at the end of 2019[13] - Total assets amounted to CNY 2,429,768,837.50, up from CNY 2,024,801,084.11 at the end of 2019[15] - Total liabilities decreased to CNY 796,183,780.64 from CNY 846,674,565.84 at the end of 2019[15] - Total liabilities decreased slightly to CNY 599,959,649.51 from CNY 609,129,880.39 year-over-year[19] - Total assets as of the end of Q1 2020 amounted to CNY 1,850,244,799.91, an increase from CNY 1,418,689,289.37 at the end of Q1 2019[19] - Total liabilities were CNY 846,674,565.84, with current liabilities at CNY 704,014,890.09[32] Shareholder Information - Net assets attributable to shareholders increased by 44.47% to CNY 1,482,808,514.32 compared to the end of the previous year[4] - The number of shareholders reached 24,117 at the end of the reporting period[7] - Owner's equity increased to CNY 1,250,285,150.40, up from CNY 809,559,408.98 in Q1 2019[19] - The total equity attributable to shareholders was CNY 1,026,346,119.83, with total equity at CNY 1,178,126,518.27[33] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -55,262,422.15, worsening from CNY -5,997,104.30 in the previous year[4] - Cash flow from operating activities was negative CNY 55,262,422.15, significantly worse than the previous year's negative CNY 5,997,104.30[10] - Cash flow from financing activities increased by 692.47% to CNY 475,152,948.95, mainly due to funds raised from share issuance and increased bank loans[10] - Cash inflow from financing activities in Q1 2020 was CNY 538,028,400.54, significantly higher than CNY 60,000,000.00 in Q1 2019[27] - The total cash increase for Q1 2020 was CNY 376,867,789.28, compared to a decrease of CNY 14,195,039.68 in Q1 2019[27] Expenses - Sales expenses increased by 37.46% to CNY 52,716,905.78 primarily due to increased freight costs[9] - Total operating costs increased to CNY 321,094,645.95, up 3.99% from CNY 308,848,021.97 in the same period last year[20] - Research and development expenses for Q1 2020 were CNY 393,288.98, a decrease from CNY 508,018.09 in Q1 2019[20] Cash and Cash Equivalents - Cash and cash equivalents increased by 262.92% to CNY 520,204,925.87 due to the arrival of funds from a share placement[9] - The company's cash and cash equivalents increased to CNY 520,204,925.87 from CNY 143,337,136.59 at the end of 2019[13] - Cash and cash equivalents in current assets totaled CNY 850,481,375.47, significantly higher than CNY 418,591,409.24 in the previous year[19] - Cash and cash equivalents at the end of Q1 2020 increased to CNY 520,204,925.87 from CNY 143,054,136.30 at the end of Q1 2019[27] - The cash and cash equivalents increased by CNY 349,732,165.76, resulting in a total of CNY 486,714,801.58 at the end of the period[29]

Financial Performance - The company reported a distributable profit of RMB 76,518,176.94 as of December 31, 2019, proposing a cash dividend of RMB 1.57 per 10 shares, totaling RMB 42,170,095.91 for all shareholders[5]. - The company's operating revenue for 2019 was CNY 1,626,592,714.47, an increase of 11.26% compared to CNY 1,462,026,401.70 in 2018[21]. - The net profit attributable to shareholders for 2019 was CNY 139,583,335.57, representing a growth of 22.25% from CNY 114,183,166.40 in 2018[21]. - The net cash flow from operating activities for 2019 was CNY 239,228,171.43, up by 9.47% from CNY 218,539,974.52 in 2018[21]. - The total assets at the end of 2019 reached CNY 2,024,801,084.11, reflecting a 12.07% increase from CNY 1,806,744,167.66 at the end of 2018[21]. - The basic earnings per share for 2019 was CNY 0.67, a rise of 21.82% compared to CNY 0.55 in 2018[22]. - The company achieved a product sales volume of 189,200 tons in 2019, representing a year-on-year growth of 12.57%[41]. - The total operating revenue reached RMB 1,626,592,714.47, an increase of 11.26% compared to the previous year[43]. - The net profit attributable to shareholders was RMB 139,583,300, reflecting a growth of 22.25% year-on-year[41]. Investment and Growth Strategy - The company aims to increase its self-sufficient milk supply rate and improve milk quality to maintain its leading position in the regional dairy market[27]. - The company plans to increase investments in markets outside Xinjiang, aiming to deliver high-quality products to a broader audience[32]. - The company is focusing on enhancing its marketing capabilities and expanding its market share in both southern Xinjiang and inland markets[73]. - The company is implementing a dual strategy of "mergers and acquisitions + investment" to drive growth and resource integration[74]. - The company aims to establish a strong research team through talent acquisition and training, enhancing its innovation capabilities[74]. - The company plans to introduce a third new product category following the success of its existing products, aiming to optimize its product structure[72]. Risk Management - The company has detailed risk factors and countermeasures outlined in the report, particularly in the section discussing future development[8]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[6]. - The company faces market competition risks due to the fully competitive nature of the dairy industry and plans to enhance product and market planning to expand market share[79]. - The company is exposed to raw material price fluctuation risks, particularly for raw milk and packaging materials, and will implement measures to control costs effectively[79]. - The company has established comprehensive health and epidemic prevention protocols to mitigate risks associated with livestock diseases[80]. - The company acknowledges the ongoing risks posed by the COVID-19 pandemic and will adapt its operations and marketing strategies to ensure sustainable development[81]. Corporate Governance - The company has a governance structure that includes a board of directors with 9 members, of which 3 are independent directors[151]. - The company has established a performance evaluation mechanism for senior management, implementing annual target responsibility assessments based on operational goals[158]. - The board of directors held a total of 10 meetings during the year, with 9 conducted via communication methods, reflecting a strong commitment to governance despite the lack of in-person meetings[155]. - The company has established a compensation and incentive plan for its senior management, which was approved by the board and shareholders[139]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters, ensuring autonomous operational capabilities[157]. Social Responsibility - The company is actively involved in social responsibility initiatives, aligning corporate benefits with social welfare[100]. - In 2019, the company invested a total of 785,900 RMB in poverty alleviation efforts, including cash donations and material support[104]. - The company donated 100 calves to the 47th Regiment of the Xinjiang Production and Construction Corps, enhancing local livestock farming and disease prevention training[102]. - The company initiated a milk donation program, providing 1,410 cartons of milk valued at 48,000 RMB to students in remote areas[101]. - The company contributed 69,276,600 RMB in various taxes in 2019, supporting national fiscal revenue[109]. Environmental Impact - The average concentration of chemical oxygen demand (COD) in wastewater for the year 2019 was 37.18 mg/l, with total emissions of 7.72 tons[111]. - The wastewater treatment capacity for Tianrun Technology is 2,500 tons per day, while for Shawan Gary it is 960 tons per day, both operating smoothly[112]. - Both Tianrun Technology and Shawan Gary have established emergency response plans for environmental incidents, with respective filing numbers 661200-2019-041-L and 654200-2018-002-L[114]. - The company has not reported any incidents of exceeding pollutant discharge standards in 2019[111]. Shareholder Returns - The company has a consistent profit distribution policy, ensuring stable returns to shareholders based on operational performance and funding needs[84]. - The cash dividend payout ratio has remained above 30% for the past three years, indicating a commitment to shareholder returns[85]. - The company has implemented a three-year shareholder return plan for 2019-2021, approved by the board and shareholders[84]. - The company’s profit distribution plan complies with regulatory guidelines set by the China Securities Regulatory Commission and the Shanghai Stock Exchange[84]. - The company has maintained a stable dividend policy, with no changes in the approach to shareholder returns over the past three years[85].

Financial Performance - Net profit attributable to shareholders increased by 12.81% to CNY 117,669,165.50 for the period from January to September[5] - Operating revenue rose by 10.16% to CNY 1,217,207,650.47 for the same period[5] - Basic earnings per share rose by 14.00% to CNY 0.57[5] - The total profit for Q3 2019 was CNY 46,815,535.19, which is a 15.5% increase from CNY 40,659,216.61 in Q3 2018[27] - The company reported a net profit of ¥75.54 million for the first three quarters of 2019, down 30.7% from ¥109.19 million in the same period of 2018[25] - The net profit for Q3 2019 was CNY 41,834,760.05, an increase of 15.5% compared to CNY 36,252,275.58 in Q3 2018[27] - The basic earnings per share for Q3 2019 was CNY 0.19, compared to CNY 0.17 in Q3 2018, reflecting a growth of 11.8%[28] Assets and Liabilities - Total assets increased by 9.03% to CNY 1,969,830,253.71 compared to the end of the previous year[5] - Current liabilities totaled ¥661,360,879.64, an increase from ¥585,163,723.00 in the previous year[20] - Total liabilities reached ¥437.57 million, a significant increase from ¥192.88 million in the previous year, indicating a rise of 126.6%[25] - The total equity attributable to shareholders increased to ¥1,004,500,440.95 from ¥921,212,268.84[20] - The company’s total equity decreased to ¥808.39 million from ¥842.05 million in the previous year, reflecting a decline of 4.0%[25] Cash Flow - Net cash flow from operating activities decreased by 48.65% to CNY 102,218,317.98 compared to the previous year[5] - Net cash flow from investing activities was -¥180,015,911.28, reflecting increased investments during the reporting period[13] - Net cash flow from financing activities increased by 256.96% to ¥83,592,510.73, driven by increased bank borrowings for operational needs[13] - The net cash flow from operating activities for Q3 2019 was CNY 112,203,840.40, a significant recovery from a negative cash flow of CNY -19,412,661.09 in Q3 2018[35] - The company’s total cash inflow from operating activities in the first nine months of 2019 was CNY 716,700,701.02, while cash outflows totaled CNY 604,496,860.62, resulting in a positive net cash flow[35] Receivables and Inventory - Accounts receivable increased by 33.68% to CNY 59,012,013.81 due to increased sales in the nurturing project[9] - Other receivables surged by 275.13% to CNY 39,741,129.82 primarily due to compensation receivables from the cattle farm[9] - The company's inventory stood at ¥169,876,497.71, slightly up from ¥169,440,880.01[18] Expenses - Financial expenses increased to ¥818,192.60 from -¥1,673,870.83 due to increased bank borrowings and interest expenses[12] - Operating costs for the first three quarters of 2019 were ¥1.07 billion, up 10.4% from ¥969.63 million in the same period of 2018[26] - The company incurred asset impairment losses of CNY 1,627,119.05 in the first three quarters of 2019, compared to CNY 1,247,892.48 in the same period last year, indicating a worsening situation[27] - The company reported a financial expense of -¥2.84 million for the first three quarters of 2019, slightly higher than -¥2.83 million in 2018[30] Investment Activities - Investment income rose to ¥414,953.10 from -¥15,586.91, primarily due to increased profits from joint ventures[12] - The company reported investment income of CNY 90,632.87 in Q3 2019, a significant recovery from a loss of CNY 15,586.91 in Q3 2018[27] - The company’s investment activities resulted in a net cash outflow of CNY 143,394,277.43 in Q3 2019, reflecting ongoing investments in growth despite the negative cash flow[35]