北京三元食品股份有限公司 关于收到政府补助的公告 本次公告的政府补助对公司2023年度利润产生一定影响，达到披露标准，具 体的会计处理须以会计师事务所年度审计确认后的结果为准，敬请广大投资者注 意投资风险。 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。 一、获得补助的基本情况 2023年7月19日至今，本公司及全资、控股子公司累计收到各类政府补助资 金437.92万元（数据未经审计），上述政府补助均与收益相关（2023年1月1日至 7月18日，公司收到的政府补助情况请参见公司2023-009、027、036号公告）。 其中，金额在10万元以上的有： | 项目名称 | | 发放单位 | 补助依据 | | | 金额（元） | | 获得时间 | | 与资产相 关/与收 益相关 | 补助类型 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 河北省农业农 村厅关于做好 | | | | | | | | | | 2023 ...

北京三元食品股份有限公司 第八届董事会第十五次会议决议公告 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。 一、 董事会会议召开情况 股票代码：600429 股票简称：三元股份 公告编号：2023-038 公司董事会对乔绿先生和麻柱先生担任公司高级管理人员期间为公司发展 所作出的贡献表示衷心感谢。 表决结果：9 票同意，0 票反对，0 票弃权。 特此公告。 北京三元食品股份有限公司董事会 2023 年 8 月 15 日 北京三元食品股份有限公司（简称"公司"）于 2023 年 8 月 14 日以通讯会 议方式召开第八届董事会第十五次会议，本次会议的通知于 2023 年 8 月 9 日以 电话、传真和电子邮件方式向全体董事发出。公司董事 9 人，参加会议 9 人。本 次会议的召集、召开及表决程序符合有关法律、行政法规、部门规章、规范性文 件及《北京三元食品股份有限公司章程》的规定。 二、 董事会会议审议情况 审议通过《关于公司高级管理人员工作调动的议案》； 因工作调动，乔绿先生不再担任公司副总经理职务，麻柱先生不再担任公司 总畜 ...

股票代码：600429 股票简称：三元股份 公告编号：2023-030 北京三元食品股份有限公司 关于召开2022年度暨2023年第一季度业绩说明会的公告 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： http://roadshow.sseinfo.com/） ● 会议召开方式：上证路演中心网络文字互动 ● 投资者可于 2023 年 5 月 30 日（星期二）至 6 月 5 日（星期一）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zhengquanbu@sanyuan.com.cn 进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 北京三元食品股份有限公司（简称"公司"）已于 2023 年 4 月 27 日在《中 国证券报》、《上海证券报》以及上海证券交易所网站（http://www.sse.com.cn） 披露了《公司 2022 年年度报告全文及摘要》及《公司 2023 年第一季度报告》。 为便于广大投资者更全面深入地了解公司经营成果、财务状况，公司计划于 20 ...

Financial Performance - The company achieved a net profit attributable to the parent company of 36.50 million yuan for the year 2022, with distributable profits amounting to 389.94 million yuan as of December 31, 2022[7]. - The proposed cash dividend distribution is 0.08 yuan per share, totaling 12.15 million yuan, which represents 33.28% of the net profit attributable to the parent company for 2022[7]. - In 2022, the company achieved operating revenue of RMB 8.003 billion, a decrease of 9.58% compared to RMB 8.850 billion in 2021[25]. - The net profit attributable to shareholders was RMB 36.50 million, down 87.77% from RMB 298.51 million in the previous year[25]. - The basic earnings per share (EPS) decreased by 87.94% to RMB 0.024 from RMB 0.199 in 2021[25]. - The net cash flow from operating activities was negative at RMB -53.94 million, a decline of 108.79% compared to RMB 613.29 million in 2021[25]. - The company's total assets decreased by 19.61% to RMB 14.05 billion from RMB 17.47 billion in 2021[25]. - The total revenue for the reporting period was CNY 7,876,607,464.14, a decrease of 10.00% year-over-year[79]. Revenue Breakdown - The liquid milk product line generated revenue of 4.657 billion RMB, down 2.46% year-on-year, while ice cream and other products saw an increase of 8.30% to 1.441 billion RMB[51]. - The company's total revenue for the main business was approximately ¥7.88 billion, a decrease of 10% year-on-year, with a gross margin of 25.58%, down 3.24 percentage points[57]. - In the dairy segment, revenue was approximately ¥7.08 billion, with a gross margin of 28.36%, reflecting a year-on-year revenue decline of 7.21% and a gross margin decrease of 1.31 percentage points[56]. - The livestock segment experienced a significant revenue decline of 29.03% to approximately ¥794 million, with a gross margin of only 0.80%, down 22.24 percentage points[56]. - The revenue from the Beijing region was approximately ¥4.83 billion, an increase of 3.98%, while revenue outside Beijing dropped by 25.84% to approximately ¥3.04 billion[56]. Market Position and Strategy - The company maintained its market leadership in the liquid milk segment in Beijing, with a continued first-place market share[34]. - The company is focusing on digital transformation and high-quality development in the dairy industry[33]. - The company is expanding its market presence by establishing strategic partnerships with local media and chain supermarkets in key external markets[34]. - The company is actively pursuing market expansion and strategic acquisitions to enhance its competitive position[55]. - The company aims to achieve an operating revenue of 15 billion yuan and a net profit of 420 million yuan by 2025, with a focus on high-quality development and strategic mergers and acquisitions[87]. Innovation and R&D - The company launched the industry's first A2β-casein milk with 25% more active protein and a low GI, low GL milk for blood sugar-sensitive consumers, among other innovative products[35]. - The company published 17 SCI papers with a total impact factor of 117.34 and was granted 10 domestic and international invention patents during the reporting period[35]. - The company is investing 50 million in R&D for new technologies aimed at enhancing product features[101]. - The company is investing 500 million RMB in R&D for new technologies in animal nutrition, expected to enhance product quality and efficiency[107]. Cost Management and Profitability - The company faced increased breeding costs due to significant price hikes in feed ingredients such as soybean meal, corn, and alfalfa, impacting profitability[24]. - The company's operating costs decreased by 5.57% to 5.956 billion RMB, primarily due to changes in the consolidation scope[53]. - The overall cost of goods sold decreased by 5.89% year-on-year, primarily due to a reduction in costs associated with the spread segment[61]. - The company acknowledges the volatility of raw material prices and implements refined management practices to control costs while ensuring product quality[89]. Governance and Compliance - The company held 1 annual general meeting and 3 extraordinary general meetings during the reporting period, ensuring compliance with regulations and protecting the rights of all shareholders, especially minority shareholders[91]. - The board of directors convened 16 meetings, with the composition and independent director ratio meeting legal requirements, effectively fulfilling their respective functions[92]. - The company emphasizes transparency in information disclosure, ensuring that all shareholders have equal access to timely information[93]. - The company has established a performance evaluation and incentive mechanism for management, incorporating long-term incentive measures such as equity incentives[93]. Environmental Responsibility - The company has implemented automatic monitoring systems for wastewater discharge at all key pollutant discharge units[146]. - The company has upgraded its wastewater treatment facilities to ensure compliance with national and local discharge standards[152]. - The company has made significant efforts in energy management and reduction of carbon emissions through equipment upgrades and process adjustments[155]. - The company invested approximately 11.87 million yuan in environmental protection during the reporting period[144]. Employee and Management Compensation - The total compensation for management personnel in 2022 amounted to 12.63 million, which includes the basic salary and performance bonuses from 2021[105]. - The company has implemented a performance evaluation mechanism for senior management, linking their compensation to the company's operational performance and individual contributions[140]. - The company aims to attract and retain key talents through equity incentive plans covering critical management personnel and core employees[140]. Strategic Acquisitions and Investments - The company made a significant equity investment of CNY 1,128,515,114.00 in Beijing Shounong, acquiring a 51% stake[82]. - The company acquired a 5% stake in Beijing Ailai Faxi Food Co., Ltd. for 100.2 million RMB, with profit commitments of 124.33 million RMB, 139.12 million RMB, and 153.05 million RMB for 2020, 2021, and 2022 respectively, totaling 416.50 million RMB[162]. - The company is currently negotiating with Ailai Hongda regarding the profit compensation details due to unmet profit commitments[163]. - The company completed a strategic acquisition of a local competitor for 1.2 billion RMB, enhancing its market share by 10%[109].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 2,167,953,044.95, representing a year-on-year increase of 0.55%[5] - The net profit attributable to shareholders for the same period was CNY 41,756,090.07, reflecting a growth of 0.38% compared to the previous year[5] - Total revenue for Q1 2023 was CNY 2,167,953,044.95, a slight increase from CNY 2,156,123,567.69 in Q1 2022, representing a growth of approximately 0.37%[22] - Net profit for Q1 2023 was CNY 12,029,539.13, down from CNY 30,715,109.23 in Q1 2022, reflecting a decrease of approximately 60.83%[23] - Operating profit for Q1 2023 was CNY 35,699,340.81, compared to CNY 44,413,089.34 in Q1 2022, showing a decline of about 19.6%[23] - The comprehensive income total for Q1 2023 was CNY 18,037,254.57, compared to CNY 14,431,536.55 in Q1 2022, representing an increase of approximately 24.1%[24] Cash Flow - The net cash flow from operating activities showed a significant decline of 968.11%, amounting to -CNY 177,566,716.38, primarily due to increased feed costs[6] - In Q1 2023, the cash inflow from operating activities was CNY 2,149,836,900.80, a decrease of 5.06% compared to CNY 2,264,922,934.45 in Q1 2022[26] - The net cash flow from operating activities was negative at CNY -177,566,716.38, contrasting with a positive CNY 20,454,337.00 in the same period last year[26] - Cash outflow for purchasing goods and services was CNY 1,702,342,594.56, an increase of 8.09% from CNY 1,574,842,792.68 in Q1 2022[26] - The cash inflow from financing activities was CNY 1,055,610,940.35, up from CNY 834,084,223.63 in Q1 2022, marking a growth of 26.52%[27] - The net cash flow from financing activities improved to CNY 370,573,300.84, compared to a negative CNY -14,668,935.42 in the previous year[27] - The cash outflow for investing activities was CNY 86,107,443.55, a decrease of 23.38% from CNY 112,478,034.22 in Q1 2022[26] - The net cash flow from investing activities was negative at CNY -60,773,876.63, an improvement from CNY -110,408,262.27 in the same period last year[26] - The company experienced a net increase in cash and cash equivalents of CNY 133,048,360.88 in Q1 2023, compared to a decrease of CNY -110,366,420.34 in Q1 2022[27] Assets and Liabilities - The total assets at the end of Q1 2023 reached CNY 14,626,736,163.34, which is a 4.12% increase from the end of the previous year[6] - As of March 31, 2023, the company's total assets increased to approximately 5.00 billion CNY, up from 4.66 billion CNY at the end of 2022, reflecting a growth of about 7.36%[18] - Total liabilities for Q1 2023 were CNY 8,497,378,983.86, compared to CNY 7,937,019,722.05 in Q1 2022, indicating an increase of approximately 7.06%[20] - The company's equity attributable to shareholders increased to CNY 5,014,979,456.75 in Q1 2023 from CNY 4,966,821,479.87 in Q1 2022, reflecting a growth of about 0.97%[20] Shareholder Information - The top ten shareholders hold a combined 92.96% of the shares, with Beijing Shunfeng Food Group Co., Ltd. being the largest shareholder at 35.28%[9] - The company plans to implement a stock incentive plan, granting 22.46 million restricted shares, which is approximately 1.5% of the total share capital[11] - The first grant of restricted shares will be 20.58 million shares at a price of CNY 3.01 per share, aimed at motivating key employees[11] - The company approved the adjustment of the 2022 restricted stock incentive plan, reducing the number of recipients from 189 to 182 and the total stock grant from 22.46 million shares to 21.608 million shares[12] - The first grant of restricted stock was set at 19.728 million shares with a grant price of 3.01 CNY per share, effective from May 20, 2022[12] - The company completed the cancellation of 660,000 shares of restricted stock due to the termination of employment of 7 incentive recipients, reducing total shares from 151.91 million to 151.85 million[14] Inventory and Receivables - The company’s inventory decreased to approximately 1.76 billion CNY from 1.86 billion CNY, a decline of about 5.88%[18] - Accounts receivable rose to approximately 973.43 million CNY, up from 701.98 million CNY, representing a growth of about 38.66%[18] Business Operations - The company's main business (dairy products and ice cream) revenue grew by 10.8% year-on-year, with a substantial increase in profit[6] - The company is responding to national dairy industry revitalization initiatives by implementing a high-quality development plan for dairy cattle breeding, requiring significant investment[15] - The company plans to transfer 27% of its stake in Beijing Shounong Livestock Development Co., Ltd. to Beijing Sanyuan Seed Industry Technology Co., Ltd., while Sanyuan will inject 600 million CNY into Shounong[15] - Following the transfer, the company's ownership in Shounong will decrease from 51.00% to approximately 19.26%[15] Research and Development - Research and development expenses increased significantly to CNY 33,953,002.36 in Q1 2023 from CNY 7,623,325.15 in Q1 2022, marking an increase of approximately 345.5%[23] Other Financial Metrics - The weighted average return on equity for Q1 2023 was 0.8372%[6] - Basic earnings per share for Q1 2023 were CNY 0.0275, slightly down from CNY 0.0278 in Q1 2022[24]

Financial Performance - The company's operating revenue for Q3 2022 was CNY 2,040,141,873.70, a decrease of 7.18% compared to CNY 1,930,534,498.59 in the same period last year[6]. - Net profit attributable to shareholders for Q3 2022 was CNY 14,850,618.37, down 82.15% from CNY 66,122,355.22 year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 17,940,296.50, a decrease of 79.62% compared to CNY 61,370,957.88 in the previous year[6]. - Basic earnings per share for Q3 2022 was CNY 0.0098, down 82.37% from CNY 0.0442 in the previous year[6]. - The weighted average return on equity decreased to 0.4792%, down 1.65 percentage points from 1.2956% year-on-year[6]. - Total operating revenue for the first three quarters of 2022 was CNY 6,301,929,277.51, a decrease of 6.8% compared to CNY 6,762,806,117.58 in the same period of 2021[47]. - Net profit for Q3 2022 was CNY 92,056,429.82, a decline of 70.7% from CNY 314,698,297.80 in Q3 2021[54]. - Earnings per share for Q3 2022 was CNY 0.0710, compared to CNY 0.1827 in Q3 2021, reflecting a decrease of 61.1%[56]. - The company's total liabilities decreased to CNY 7,546,387,080.72 in 2022 from CNY 9,773,693,105.41 in 2021, a reduction of 22.6%[47]. - The total equity attributable to shareholders decreased to CNY 4,972,375,845.68 in 2022 from CNY 5,673,294,865.97 in 2021, a decline of 12.3%[47]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was CNY 45,497,099.16, a decline of 90.14% from CNY 128,888,241.14 in the same period last year[6]. - The company's cash and cash equivalents decreased to CNY 999.55 million from CNY 1.62 billion, a decline of approximately 38.4% year-over-year[42]. - The cash inflow from operating activities for the first three quarters of 2022 was approximately ¥6.83 billion, a decrease of 8.3% compared to ¥7.44 billion in the same period of 2021[58]. - The net cash flow from operating activities was ¥45.50 million, significantly down from ¥461.64 million in the previous year, indicating a decline of 90.2%[62]. - The ending balance of cash and cash equivalents was ¥999.55 million, down from ¥1.62 billion at the end of the previous year[62]. - As of September 30, 2022, the company's total current assets amounted to CNY 4.50 billion, an increase from CNY 3.97 billion as of December 31, 2021, representing a growth of approximately 13.2%[42]. - Accounts receivable increased to CNY 976.25 million, up from CNY 885.44 million, reflecting a growth of approximately 10.3%[42]. - Inventory rose to CNY 1.42 billion, compared to CNY 1.25 billion, indicating an increase of about 13.4%[42]. - The company's total assets decreased to CNY 13.66 billion from CNY 17.48 billion, a decline of approximately 21.5%[45]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 30,934[17]. - Beijing Shounong Food Group Co., Ltd. holds 535,908,935 shares, accounting for 35.32% of total shares[17]. - Beijing Enterprises (Dairy) Limited holds 283,142,849 shares, accounting for 18.66% of total shares[17]. - Shanghai Pingrun Investment Management Co., Ltd. holds 219,277,151 shares, accounting for 14.45% of total shares[17]. Investments and Acquisitions - The company acquired a 46.3675% stake in Shounong Animal Husbandry for a total transaction price of 112,851.51 million RMB[21]. - The company completed the acquisition of a 51% stake in Shounong Animal Husbandry in January 2022[21]. - The company acquired 100% equity in Hunan Taizi Dairy Group Biotech Co., Ltd. for 70,054,040 RMB through a public auction[37]. - The company plans to increase its stake in Beijing Sanyuan Meiyuan Food Co., Ltd. to 100% through a capital increase[25]. Operational Changes and Strategies - The company experienced a significant increase in breeding costs due to rising prices of feed ingredients, impacting profitability[9]. - The company ceased consolidating SPV (Luxembourg) and its related French companies from May, leading to a decline in revenue, while its main business (dairy products and ice cream) saw year-on-year growth[9]. - The company plans to focus on market expansion and new product development to enhance future growth prospects[57]. - The company approved a loan application of 100 million RMB from its subsidiary Shou Nong Animal Husbandry to Beijing Rural Commercial Bank, with a one-year term and corresponding guarantees provided by the company and Beijing Sanyuan Seed Industry Technology Co., Ltd. based on their shareholding ratios[26]. - The company’s subsidiary Allied Faxi New Zealand Food Co., Ltd. applied for a bank loan of 10 million NZD, with the company providing a guarantee for this loan for one year[28]. Research and Development - Research and development expenses for Q3 2022 were CNY 79,141,851.70, an increase of 22.8% compared to CNY 64,451,093.70 in Q3 2021[50]. Joint Ventures - The company approved the establishment of a joint venture with Modern Dairy in Beijing, with a registered capital of CNY 20 million, where Modern Dairy will contribute CNY 10.2 million (51%) and Shou Nong Livestock will contribute CNY 9.8 million (49%) to expand the dairy frozen semen market[38]. - A joint venture with Haiyuan Cattle Industry Development Group was also approved, with a registered capital of CNY 25 million, where Shou Nong Livestock will contribute CNY 12.75 million (51%) and Haiyuan Cattle will contribute CNY 12.25 million (49%) to enhance beef cattle breeding and sales[38].

Financial Performance - The company's operating revenue for Q1 2022 was ¥2,156,123,567.69, representing a year-on-year increase of 1.29% compared to ¥1,867,575,905.40 in the same period last year[6]. - Net profit attributable to shareholders was ¥41,596,674.58, a decrease of 42.72% from ¥44,115,735.71 in the previous year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥38,170,395.76, down 53.53% from ¥42,402,764.29 year-on-year[6]. - Basic earnings per share decreased by 42.68% to ¥0.0278 from ¥0.0295 in the previous year[9]. - Net profit for Q1 2022 was approximately ¥30.72 million, a decrease of 68.2% compared to ¥96.27 million in Q1 2021[44]. - Earnings per share for Q1 2022 were ¥0.0278, down from ¥0.0485 in Q1 2021, reflecting a decline of 42.5%[44]. - The company reported a total comprehensive income of approximately ¥14.43 million for Q1 2022, down from ¥45.18 million in Q1 2021, a decrease of 68.1%[44]. Cash Flow - The net cash flow from operating activities was ¥20,454,337.00, a significant decline of 89.03% compared to ¥216,219,350.93 in the same period last year[9]. - In Q1 2022, the company's cash inflow from operating activities was CNY 2,264,922,934.45, a decrease of 7.5% compared to CNY 2,448,749,125.60 in Q1 2021[47]. - The net cash flow from operating activities for Q1 2022 was CNY 20,454,337.00, significantly lower than CNY 186,522,722.24 in the same period last year[49]. - Cash outflow from operating activities totaled CNY 2,244,468,597.45, compared to CNY 2,262,226,403.36 in Q1 2021, indicating a slight decrease of 0.8%[49]. - The company's cash and cash equivalents at the end of Q1 2022 were CNY 1,514,585,194.73, down from CNY 2,140,110,739.27 at the end of Q1 2021[49]. - The total cash outflow related to financing activities was CNY 848,753,159.05, compared to CNY 398,299,043.55 in Q1 2021, indicating a significant increase[49]. Assets and Liabilities - Total assets at the end of the reporting period were ¥17,532,354,214.44, an increase of 0.32% from ¥12,572,462,999.63 at the end of the previous year[9]. - Total liabilities as of the reporting date were approximately ¥10,627.64 million, an increase from ¥9,773.69 million in the previous period, representing a growth of 8.7%[38]. - Total equity decreased to approximately ¥6,904.71 million from ¥7,702.42 million, indicating a decline of 10.4%[38]. - The company's total current assets as of March 31, 2022, amounted to approximately 4.20 billion RMB, an increase from approximately 3.97 billion RMB as of December 31, 2021[36]. - The company's accounts receivable rose to approximately 1.13 billion RMB as of March 31, 2022, compared to approximately 885.44 million RMB at the end of 2021[33]. - The company reported inventory of approximately 1.24 billion RMB as of March 31, 2022, slightly down from approximately 1.25 billion RMB at the end of 2021[33]. Investments and Acquisitions - The company acquired a total of 46.3675% equity in Shou Nong Animal Husbandry from Beijing Sanyuan Seed Industry Technology Co., Ltd. and Beijing Xing Shi Investment Management Center for a total transaction price of RMB 112.85 million[18]. - The company completed the acquisition of 51% equity in Shou Nong Animal Husbandry in January 2022, which is now included in the company's consolidated financial statements[20]. - The company plans to increase its investment in Beijing Sanyuan Meiyuan Food Co., Ltd. by RMB 408 million, aiming to acquire 100% equity in the company[22]. - The company approved a loan of RMB 100 million for its subsidiary Shou Nong Animal Husbandry, with a one-year term, and will provide guarantees based on shareholding proportions[23]. - The company’s subsidiary, Allied Faxi New Zealand Food Co., Ltd., is set to apply for a loan of NZD 10 million, with the parent company providing guarantees for the loan[24]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 33,825[15]. - The company approved a restricted stock incentive plan to grant 22.46 million shares, representing approximately 1.5% of the total share capital, with an initial grant price of RMB 3.01 per share[21]. - The company approved a cash dividend distribution of 0.50 RMB per 10 shares, totaling approximately 74.88 million RMB, which accounts for 30.54% of the net profit attributable to the parent company for 2021[27]. Future Plans and Strategies - The company plans to adjust its product structure and reduce costs to mitigate the cyclical fluctuations in the livestock industry[9]. - The company plans to manage up to 500 million RMB of temporarily idle funds for cash management purposes, ensuring normal operations and fund safety[32]. - The company plans to apply for a comprehensive credit facility of up to 1.5 billion RMB from its controlling shareholder's financial subsidiary to meet funding needs[27]. - The company and its subsidiary plan to apply for a one-year comprehensive credit facility of 500 million RMB from Beijing Rural Commercial Bank[28]. - The company approved a guarantee for its subsidiary Jiangsu Sanyuan Shuangbao Dairy Co., Ltd. to apply for a one-year comprehensive credit facility of 10 million RMB from Jiangsu Bank[28].

Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of CNY 245.21 million, a significant increase of 1,011.72% compared to CNY 22.06 million in 2020[7]. - The total operating revenue for 2021 was CNY 7.73 billion, representing a growth of 5.13% from CNY 7.35 billion in 2020[24]. - The company's net assets at the end of 2021 were CNY 5.13 billion, an increase of 3.38% from CNY 4.96 billion at the end of 2020[25]. - The cash flow from operating activities for 2021 was CNY 339.51 million, a decrease of 40.53% compared to CNY 570.84 million in 2020[25]. - The company reported a net profit of CNY 221.27 million after deducting non-recurring gains and losses, compared to a loss of CNY 18.81 million in 2020[25]. - The company achieved an actual production capacity of 687,000 tons in 2021[43]. - The company achieved a main business revenue of 7.63 billion RMB in 2021, representing a year-on-year growth of 4.73%[49]. - The liquid milk product line generated revenue of 4.78 billion RMB, with a year-on-year increase of 10.84%[49]. - The solid milk product line reported revenue of 750 million RMB, a decrease of 17.77% compared to the previous year, primarily due to reduced production of bulk powder[49]. - Ice cream and other products generated revenue of 1.32 billion RMB, reflecting a year-on-year growth of 10.14%[49]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.50 per share, totaling approximately CNY 74.88 million, which is 30.54% of the net profit attributable to shareholders[7]. - The company’s cash dividend distribution was approved by the board and shareholders, ensuring the protection of minority shareholders' rights[126]. - The company’s board approved a cash dividend distribution of CNY 0.05 per share, totaling approximately CNY 7.4878 million, which is 33.95% of the net profit attributable to the parent company[195]. Research and Development - The company's R&D expenses surged by 233.04% to 117.65 million RMB, indicating a strong focus on innovation[52]. - The company established multiple innovation platforms, including a national maternal and infant dairy health engineering technology research center[47]. - The company has developed key technologies for dairy processing, including a proprietary Chinese maternal and infant nutrition database[48]. - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[102]. - The company is investing 100 million yuan in research and development for new technologies aimed at enhancing product quality[106]. Market Position and Strategy - The company maintained the top market share in liquid milk in Beijing, according to Kantar monitoring data[41]. - The company is focusing on expanding its high-end product lines, including the premium sub-brands "Extreme" and "Ailiyou" for liquid milk and infant formula[36]. - The company is actively pursuing mergers and acquisitions to enhance its supply chain and maintain a competitive edge in the dairy industry[45]. - The company is exploring potential acquisitions to further strengthen its market position, with a budget of $200 million allocated for this purpose[102]. - The company plans to enhance strategic mergers and acquisitions to achieve rapid breakthroughs in products, brands, and channels, as well as vertical integration for full industry chain development[83]. Compliance and Governance - The company’s board of directors and management have confirmed the accuracy and completeness of the financial report[5]. - The company has strengthened its compliance management system, focusing on food safety and risk prevention[38]. - The company has established a performance evaluation and incentive mechanism for management to align with its strategic goals[90]. - The company has held 10 board meetings and 3 supervisory meetings during the reporting period, ensuring compliance with governance standards[89]. - The company is committed to transparent information disclosure, ensuring all shareholders have equal access to timely information[91]. Environmental and Social Responsibility - The company is committed to rural revitalization and has participated in initiatives to improve nutrition and education for rural youth, including donations of milk powder to revolutionary areas[146]. - The company has established an environmental protection risk emergency mechanism and updated its emergency response plan annually[138]. - The company’s wastewater treatment facilities are designed and constructed simultaneously with the main project, ensuring compliance with national and local discharge standards[136]. - The company has reported no significant internal control deficiencies during the reporting period[131]. - The company implemented a detailed self-monitoring plan for pollutants, ensuring compliance with environmental standards through real-time data uploads to the environmental monitoring platform[139]. Future Outlook - The company aims to achieve a revenue of 15 billion CNY and a net profit of 420 million CNY by 2025, with these targets subject to future market conditions[83]. - For 2022, the company targets a revenue of 8.5 billion CNY and a net profit of 210 million CNY, also subject to market uncertainties[84]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[106]. - Future strategies may include further market expansion and potential acquisitions to enhance growth opportunities[99]. - The management team emphasized the importance of sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025[106].

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,930,534,498.59, a decrease of 4.27% compared to the same period last year[7]. - The net profit attributable to shareholders for Q3 2021 was ¥66,122,355.22, representing a year-on-year increase of 20.59%[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥61,370,957.88, an increase of 24.97% year-on-year[7]. - The basic earnings per share for Q3 2021 was ¥0.0442, reflecting a year-on-year increase of 20.77%[10]. - Net profit for the third quarter of 2021 was CNY 181,957,351.02, a significant recovery from a net loss of CNY 51,407,611.45 in the same quarter of 2020[46]. - The company reported a profit before tax of CNY 222,449,564.58 for the third quarter of 2021, compared to CNY 12,940,496.03 in the previous year, indicating a substantial improvement[46]. - Basic earnings per share for the third quarter of 2021 were CNY 0.1416, recovering from a loss of CNY 0.0310 per share in the same quarter of 2020[48]. Assets and Liabilities - The total assets at the end of Q3 2021 were ¥12,640,028,843.87, a decrease of 5.48% compared to the end of the previous year[10]. - The company's total liabilities were RMB 6,579,489,908.86, down from RMB 7,385,951,212.30, representing a decrease of about 10.9%[41]. - The company's total assets amounted to $13.37 billion, a slight decrease from $13.38 billion in the previous period[55]. - Total non-current liabilities amounted to approximately ¥3.20 billion, with long-term borrowings at ¥1.88 billion[58]. - Total liabilities reached approximately ¥7.39 billion, reflecting a slight decrease from the previous period[58]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥128,888,241.14, a decrease of 41.97% year-on-year[10]. - Cash inflows from operating activities totaled CNY 6,241,273,939.59 for the first three quarters of 2021, compared to CNY 5,690,840,480.51 in 2020, representing an increase of 9.7%[49]. - Cash flow from operating activities net amount was $128.89 million, a decrease of 42.1% compared to $222.12 million in the previous period[51]. - The ending balance of cash and cash equivalents was $1.26 billion, down from $1.73 billion in the previous period[53]. - Cash paid for debt repayment was $797.34 million, an increase of 42.1% from $561.16 million in the previous period[53]. Shareholder Information - The company’s major shareholders include Beijing Shounong Food Group Co., Ltd. with a 35.79% stake and BEIJING ENTERPRISES (DAIRY) LIMITED with an 18.91% stake[19]. - The company has not identified any other shareholders with related party relationships or acting in concert, aside from those already disclosed[22]. - The company’s major shareholders are primarily state-owned or controlled entities, indicating a stable ownership structure[19]. Investments and Acquisitions - The company is planning to acquire assets from its controlling shareholder, Beijing Shou Nong Food Group, which will include a 51% stake in Shou Nong Animal Husbandry[33]. - The company intends to acquire a 7.89% stake in its subsidiary Manzhouli Sanyuan Dairy Co., Ltd. for no more than RMB 300,000 and subsequently merge it, as it has been inactive for several years[29]. Operational Changes - The company approved a comprehensive credit line application of up to RMB 1 billion from its controlling shareholder's wholly-owned subsidiary for various funding needs[24]. - The company has authorized the use of up to RMB 300 million of temporarily idle funds for cash management, focusing on high-security and liquid bank products[27]. - The company agreed to extend the joint venture contract with Qiu Zhigang for Tianjin Sanyuan Dairy Co., Ltd. for an additional 5 years, until April 25, 2026[29]. - The company has approved a reduction of registered capital for its wholly-owned subsidiary Hebei Sanyuan Food Co., Ltd. from RMB 1,000,000,000 to RMB 1,157,725,500[30]. Research and Development - Research and development expenses increased to CNY 58,182,166.58 in the first three quarters of 2021, compared to CNY 16,686,032.12 in the same period of 2020, marking a growth of 248.5%[43].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥4,001,784,700.25, representing a 17.56% increase compared to ¥3,403,899,022.07 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥145,890,708.49, a significant recovery from a loss of ¥101,301,441.37 in the previous year[22]. - The net cash flow from operating activities was ¥226,590,229.54, compared to a negative cash flow of ¥70,496,002.63 in the same period last year[22]. - The basic earnings per share for the first half of 2021 was ¥0.0974, a recovery from a loss of ¥0.0676 per share in the previous year[24]. - The weighted average return on net assets increased to 2.8991%, up by 4.9466 percentage points from -2.0475% in the previous year[24]. - The total assets of the company at the end of the reporting period were ¥13,182,197,025.08, a decrease of 1.43% from ¥13,373,475,395.64 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company increased to ¥5,070,680,687.50, reflecting a 2.19% increase from ¥4,962,047,398.13 at the end of the previous year[24]. - The company achieved operating revenue of 4.002 billion RMB in the first half of 2021, representing a year-on-year growth of 17.56%[36]. - Net profit for the same period was 146 million RMB, reflecting the company's efforts to enhance internal growth and operational quality despite external challenges[36]. Operational Efficiency - The company operates six major business divisions, including long-term milk, short-term milk, and special channels, enhancing operational efficiency[31]. - The company reported a significant increase in cash flow from operating activities, amounting to 226 million RMB, due to higher sales[43]. - The company has implemented refined management practices across production, sales, and distribution to control costs and ensure operational efficiency amid rising raw material prices[58]. - The company reported a decrease in sales expenses to ¥433.72 million from ¥512.63 million, indicating improved operational efficiency[167]. Research and Development - Research and development expenses surged by 252.73% to 48 million RMB, highlighting a strong commitment to innovation and product development[43]. - The company has developed multiple proprietary technologies in dairy processing, including low-temperature sterilization and rapid detection methods[32]. - Research and development expenses increased significantly to ¥48,070,663.85 in the first half of 2021, compared to ¥13,628,232.51 in the same period of 2020, marking a growth of 252.5%[161]. - The company has a strong brand presence with well-known brands such as "Sanyuan," "Jizhi," and "Ailiyou," contributing to its competitive advantage[32]. Market Position and Expansion - The company maintains a leading market share in liquid milk in the offline market in Beijing[28]. - E-commerce revenue increased by nearly 40% year-on-year, indicating a successful expansion into online sales channels[40]. - The subsidiary St Hubert, focusing on plant-based products, expanded into the Chinese and Southern European markets, contributing to diversified revenue streams[40]. - The company reported a significant increase in international expansion efforts, adapting to changing market dynamics and enhancing product differentiation through technology development and collaboration[58]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[186]. Financial Management - The company reduced short-term borrowings by 41.23%, reflecting improved financial management and debt reduction strategies[44]. - The company has a loan balance of €207 million as of June 2021, secured by assets of HCo France and SPV (Luxembourg)[49]. - The total guarantee amount provided by the company, including guarantees to subsidiaries, is CNY 1,676,957,267, which accounts for 33.07% of the company's net assets[130]. - The company has provided a guarantee of CNY 8 million for the loan of its subsidiary Jiangsu Sanyuan Shuangbao Dairy Co., Ltd.[131]. Environmental Responsibility - The company has implemented pollution control measures, ensuring that all key pollutant discharge units have installed automatic monitoring systems[82]. - The company has upgraded its wastewater treatment facilities, including online monitoring systems and new anaerobic tanks, to ensure compliance with discharge standards[90]. - The company has focused on energy conservation and emission reduction, resulting in a decrease in total energy consumption compared to the previous year[93]. - The company has committed to maintaining compliance with environmental regulations and has conducted environmental impact assessments for its projects[83]. Corporate Governance - The company has appointed several new executives, including a new General Manager and Chief Scientist, while multiple senior management members left[77]. - The company maintains a good integrity status during the reporting period, with no significant debts or court judgments unfulfilled[99]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[97]. - The company has not reported any changes in its share capital structure during the reporting period[136]. Shareholder Information - The company has a total of 31,066 common stock shareholders as of the end of the reporting period[137]. - Beijing Shunong Food Group Co., Ltd. holds 535,908,935 shares, representing 35.79% of the total shares[137]. - The company distributed CNY 7,487,787.13 to shareholders during the reporting period[191]. - The total owner's equity has increased by CNY 96,120,125.42 during the reporting period[191]. Related Party Transactions - The total amount of related party transactions in the first half of 2021 was 514,221.82 RMB, with significant transactions involving Beijing Heiliu Animal Husbandry Technology Co., Ltd. and Beijing Yanqi Yuansheng Zhai Halal Food Co., Ltd.[103]. - The company has adhered to the market pricing principle in its related party transactions, ensuring fair and reasonable pricing[103].