Financial Performance - The company's operating revenue for the first half of 2018 was CNY 22,492,414.28, a decrease of 33.55% compared to CNY 33,847,975.53 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was a loss of CNY 2,920,410.51, compared to a loss of CNY 128,281.39 in the previous year[21]. - The net cash flow from operating activities was CNY 18,265,632.97, down 18.95% from CNY 22,535,433.11 in the same period last year[21]. - The total assets at the end of the reporting period were CNY 289,642,140.76, a decrease of 1.85% from CNY 295,095,289.95 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 1.07% to CNY 274,341,861.76 from CNY 277,322,596.93 at the end of the previous year[21]. - The basic earnings per share for the first half of 2018 was -CNY 0.020, compared to -CNY 0.001 in the same period last year[22]. - The weighted average return on net assets was -1.06%, compared to -0.05% in the previous year[22]. - The company achieved operating revenue of CNY 22.49 million, a decrease of 33.55% compared to the same period last year[33]. - Main business revenue was CNY 22.15 million, down 33.96% year-on-year[33]. - The net profit attributable to shareholders was a loss of CNY 2.92 million, an increase in loss of CNY 279.21 million compared to the previous year[33]. Operational Challenges - The company faced a significant decline in fruit sales volume due to a sluggish market, impacting overall revenue[32]. - The company reported a 74.82% decrease in inventory, down to CNY 6.21 million, primarily due to reduced stock levels[39]. - The company continues to implement a "sales-driven purchasing" model to manage fruit sales effectively[32]. - The company is focusing on enhancing its management and technical support for production bases to improve orchard yields[32]. - The company faces risks from macroeconomic fluctuations, which have led to increased competition in the fruit industry due to slowing economic growth and declining consumer demand[43]. - Natural disasters pose a risk to fruit quality and yield, prompting the company to enhance disaster management at production bases[44]. - Policy risks related to water and electricity pricing could significantly impact production costs and farmer engagement, leading the company to implement water-saving irrigation measures[46]. - Financial risks arise from the seasonal nature of fruit harvesting, necessitating careful planning for procurement and cash flow management during peak seasons[47]. Strategic Initiatives - The company plans to explore organic pear cultivation to enhance brand competitiveness and market share[30]. - The company has a strong production base and aims to improve disaster prevention capabilities to mitigate risks from natural disasters[29]. - The company has initiated legal action to recover 22.12 million yuan in accounts receivable from customers, including asset preservation measures[50]. - The company is planning a major asset restructuring involving Henan Zhongpin Food Co., Ltd., focusing on the pork slaughtering and meat processing sectors[67]. - The restructuring will be executed through issuing shares and/or cash payments[67]. - The company has suspended its stock trading since May 23, 2018, to comply with the restructuring process[67]. - A framework cooperation agreement has been signed between the indirect controlling shareholder and the actual controller of Zhongpin Food[68]. - The company is committed to enhancing its operational capabilities and fulfilling social responsibilities in poverty alleviation efforts[65]. - The company is focused on leveraging its advantages to support poverty-stricken villages through various means, including technology and funding[64]. Compliance and Governance - The company guarantees compliance with the China Securities Regulatory Commission and stock exchange regulations, ensuring equal shareholder rights and obligations[54]. - The company has committed to maintaining the independence of its operations, assets, and finances post-equity changes[55]. - The company has no significant related party transactions that have not been disclosed[58]. - The company has not issued any stock incentive plans or employee stock ownership plans during the reporting period[57]. - The company will not engage in any business that competes with its listed company post-equity changes[54]. - The company will ensure fair pricing in any necessary related party transactions[55]. - The company has no significant changes in the integrity status of its controlling shareholders or actual controllers during the reporting period[57]. - The company appointed Zhongxing Caiguanghua Accounting Firm as the financial audit institution for 2018, with an audit fee of CNY 300,000[56]. - The company has not reported any major litigation or arbitration matters during the reporting period[57]. Financial Position - As of June 30, 2018, the company's cash and cash equivalents increased to ¥72,558,230.99 from ¥39,253,562.79 at the beginning of the period, representing an increase of approximately 84.5%[83]. - Accounts receivable decreased slightly from ¥21,012,543.44 to ¥19,906,620.11, indicating a reduction of about 5.3%[83]. - The company has not made any changes to its total share capital or share structure during the reporting period[73]. - The largest shareholder, Xinjiang Rongsheng Investment Co., Ltd., holds 35,278,015 shares, accounting for 23.88% of the total shares[77]. - The company has not disclosed any new product developments or technological advancements during the reporting period[80]. - There were no changes in the number of shareholders or significant changes in shareholding structure reported[78]. - The company has not issued any new bonds or made changes to its bond-related matters during the reporting period[81]. - The company has not reported any stock incentive plans for its directors, supervisors, or senior management during the reporting period[80]. - The company is currently facing regulatory constraints that prevent it from meeting the requirements for resuming trading of its shares[70]. Accounting Policies and Practices - The company operates under the continuous operation basis as per the accounting standards set by the Ministry of Finance[100]. - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[103]. - The company adopts a 12-month operating cycle for liquidity classification of assets and liabilities[105]. - The accounting records are maintained in Renminbi (RMB) as the functional currency[106]. - The consolidated financial statements include all subsidiaries controlled by the company, with control defined as having power over the investee and the ability to affect returns[108]. - The company recognizes financial assets and liabilities at fair value upon initial recognition, with subsequent measurement based on their classification[114]. - Trading financial assets are measured at fair value, with gains or losses recognized in the current period's profit or loss[114]. - The company has not identified any significant events affecting its ability to continue operations in the foreseeable future[102]. - The company has not made any significant acquisitions or mergers during the reporting period[108]. - The company has not disclosed any new product developments or technological advancements in this report[108]. Investment and Asset Management - The company reported a significant increase in long-term equity investments, reflecting a strategic focus on controlling and influencing key investments[139]. - The initial investment cost for long-term equity investments is determined based on the book value of the investee's equity at the merger date, ensuring accurate financial reporting[140]. - The company employs the equity method for long-term equity investments where it has joint control or significant influence, allowing for a more accurate reflection of investment performance[143]. - The company recognizes investment income based on the share of the investee's declared dividends or profits, ensuring timely reflection of financial performance[144]. - The company is focused on maintaining control over its investments while also exploring opportunities for strategic acquisitions and market expansion[142]. - The financial statements reflect a commitment to transparency and adherence to accounting standards, particularly in the valuation of long-term equity investments[143]. - The company is actively managing its investment portfolio to optimize returns and mitigate risks associated with market fluctuations[145]. Revenue Recognition and Taxation - The company confirms revenue from the sale of goods when the significant risks and rewards of ownership have transferred to the buyer, and the related costs can be reliably measured[166]. - The company applies the percentage-of-completion method for revenue recognition when the outcome of service transactions can be reliably estimated[167]. - The company confirms revenue from service contracts when the services have been provided and evidence of payment has been received[167]. - The company has a tax rate of 25% for corporate income tax and a value-added tax rate of 16%, 10%, 6%, or 3% depending on the taxable income[177]. - The company has received tax exemptions for agricultural production activities since July 1, 2017, as approved by the local tax authority[177]. Accounts Receivable and Inventory Management - The accounts receivable at the end of the period amounted to CNY 23,001,675.21, with a bad debt provision of CNY 3,095,055.10, representing approximately 13.48% of the total accounts receivable[181]. - The company recognized a bad debt provision of CNY 1,105,923.33 during the current period, with no recoveries or reversals reported[183]. - The total balance of other receivables is RMB 15,977,588.88, with a bad debt provision of RMB 2,191,788.16, representing 13.72% of the total[190]. - The inventory balance at the end of the period is RMB 6,209,354.66, with a total of RMB 24,658,287.60 in inventory value[199]. - The company has not recognized any impairment for inventory at the end of the period[200].

Financial Performance - In 2016, the company's operating revenue was CNY 68,031,962.23, an increase of 17.57% compared to CNY 57,865,834.04 in 2015[20] - The net profit attributable to shareholders was a loss of CNY 5,850,920.18, representing a decrease of 193.98% from a profit of CNY 6,225,677.90 in 2015[20] - The net cash flow from operating activities was a negative CNY 21,690,696.83, a decline of 252.30% compared to a positive CNY 14,242,529.77 in 2015[20] - The total assets at the end of 2016 were CNY 288,760,944.40, down 3.79% from CNY 300,134,660.42 at the end of 2015[20] - The net assets attributable to shareholders decreased by 1.74% to CNY 273,187,193.33 from CNY 278,036,174.36 in 2015[20] - The basic earnings per share for 2016 was -CNY 0.040, a decrease of 195.24% from CNY 0.042 in 2015[21] - The weighted average return on net assets was -2.13% in 2016, down from 2.26% in 2015, indicating a significant decline in profitability[21] - The company reported a negative net profit of CNY 6,837,913.68 after deducting non-recurring gains and losses, compared to a loss of CNY 9,576,203.42 in 2015[20] Revenue and Costs - The gross profit margin for the main business was 4.38%, with operating costs increasing by 20.15% to CNY 62.98 million due to higher sales volume[36] - The company's main business revenue from fruit industry reached CNY 60.33 million, an increase of 16.49% compared to the previous year, driven by higher sales volume[39] - The main business cost for the fruit industry was CNY 57.37 million, up 23.10% year-on-year, primarily due to increased sales volume[39] - The gross profit margin for fruit products decreased by 5.11% due to higher acquisition costs and lower selling prices compared to the previous year[39] Market and Sales Strategy - The company sold over 11,000 tons of Korla pears, primarily distributed to major cities including Beijing, Shanghai, and Guangdong[29] - The company plans to explore organic pear cultivation to enhance brand competitiveness and market share[30] - The company is actively expanding sales channels and collaborating with large fruit chain retailers to increase market penetration[31] Cost Control and Management - The company has implemented cost control measures, reducing management expenses by 26.46% to CNY 8.89 million[34] - Selling expenses decreased by 40.87% to CNY 1.07 million, attributed to a reduction in workforce and asset disposals[45] - Management expenses fell by 26.46% to CNY 8.89 million, due to tax reclassification and a decrease in workforce[45] Risk Management - The company has acknowledged the existence of industry risks and has detailed them in the report, indicating a proactive approach to risk management[8] - The company faces risks from macroeconomic fluctuations, natural disasters, policy changes, financial risks, and market competition, which could impact production and profitability[78][79][80][81][82] Corporate Governance - The company has established a governance structure based on the Company Law and Securities Law, ensuring effective decision-making and supervision[146] - The board of directors has been restructured to enhance governance and strategic decision-making processes[132] - The company has not reported any shareholding changes or increases in remuneration for its directors and supervisors[130] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,889, a decrease from 19,033 at the end of the previous month[121] - The largest shareholder, Xinjiang Rongsheng Investment Co., Ltd., holds 35,278,015 shares, accounting for 23.88% of the total shares[122] - The company has no strategic investors or general legal entities becoming top 10 shareholders during the reporting period[123] Future Outlook - The company provided optimistic future guidance, projecting a revenue growth of approximately 15% for the upcoming fiscal year[1] - The company aims to improve its financial performance in the upcoming periods by leveraging its equity structure[200] - The report indicates a focus on enhancing shareholder equity through capital increases and profit retention strategies[199] Social Responsibility - The company donated a total of 350,600 RMB to Ke'er Gutai Village for agricultural infrastructure since 2013, with an additional donation of 50,000 RMB in 2016 for livestock shelter renovation projects[107] - The company invested a total of 5 million in poverty alleviation projects, with 4.75 million specifically allocated for targeted poverty alleviation efforts[110] Audit and Compliance - The company received a standard unqualified audit opinion from Zhongxing Caiguanghua Accounting Firm for its financial statements[166] - The company has no major litigation or arbitration matters during the reporting period[91] - The company has no reported penalties from securities regulatory agencies in the last three years[140]

Financial Performance - In 2015, the company's operating revenue was approximately ¥57.87 million, a decrease of 48.25% compared to ¥111.81 million in 2014[21] - The net profit attributable to shareholders was ¥6.23 million, a significant recovery from a loss of ¥15.08 million in 2014[21] - The net cash flow from operating activities increased by 392.12% to ¥14.24 million, compared to ¥2.89 million in 2014[21] - The total assets at the end of 2015 were approximately ¥300.13 million, reflecting a 4.29% increase from ¥287.79 million in 2014[21] - The company's net assets attributable to shareholders were approximately ¥278.04 million, up 2.29% from ¥271.81 million in 2014[21] - Basic earnings per share for 2015 were ¥0.042, a recovery from a loss of ¥0.102 per share in 2014[22] - The weighted average return on net assets was 2.26%, improving from -5.40% in 2014[23] - The company reported a total profit of CNY 6.54 million, with a net profit attributable to shareholders of CNY 6.23 million[39] - The company reported a net profit for 2015 of CNY 6,225,677.90, a significant recovery from a net loss of CNY 16,319,720.25 in the previous year[180] - The total comprehensive income for 2015 was CNY 6,225,677.90, compared to a comprehensive loss of CNY 16,319,720.25 in the previous year[180] Revenue and Sales - The company achieved operating revenue of CNY 57.87 million, a decrease of 48.25% compared to the previous year, primarily due to reduced orchard contracting income and fruit sales volume[39] - Main business income from fruit sales was CNY 52.22 million, down 50.71% year-on-year, with a main business profit of CNY 5.43 million[39] - In Q1 2015, the company reported revenue of CNY 13,605,389.72, which increased to CNY 29,509,913.08 in Q2, but dropped to CNY 4,477,064.14 in Q3 before rising to CNY 10,273,467.10 in Q4[25] - The fruit processing segment (fruit wine) saw a revenue increase of 21.42 times to CNY 0.44 million, driven by higher sales volume[45] - Sales revenue from goods and services received cash totaled CNY 66,717,135.53, down from CNY 136,028,110.29 in the previous year, indicating a decline of approximately 51%[187] Costs and Expenses - Operating costs decreased by 50.01% to CNY 52.42 million, reflecting a significant reduction in fruit sales volume[41] - Total operating costs amounted to CNY 67,099,843.73, down 48.8% from CNY 131,064,832.12 in the prior year[179] - Sales expenses decreased by 47.98% to CNY 1,813,219.97, primarily due to reduced fruit sales volume[53] - Management expenses decreased by 16.35% to CNY 12,086,159.07, mainly due to lower intermediary fees[53] Cash Flow and Liquidity - The company's cash flow from operating activities increased by 392.12% to CNY 14.24 million, indicating improved operational efficiency[41] - The net cash flow from operating activities was CNY 14,242,500, while investment activities generated a net cash flow of -CNY 9,277,700[54] - The company reported a net increase in cash and cash equivalents of CNY 9,961,664.55, compared to a decrease of CNY 45,507,461.02 in the previous year[188] - The ending balance of cash and cash equivalents was CNY 17,740,182.87, up from CNY 7,778,518.32 at the beginning of the year[188] Assets and Liabilities - The company's total assets as of December 31, 2015, were CNY 300,134,660.42, compared to CNY 287,791,685.81 at the beginning of the year[178] - Current liabilities totaled CNY 11,280,486.06, an increase of 118.5% from CNY 5,160,036.82[176] - Total liabilities reached CNY 22,098,486.06, up 38.5% from CNY 15,978,036.82[176] - The company's equity attributable to shareholders was CNY 278,036,174.36, an increase from CNY 271,810,496.46[176] Strategic Initiatives - The company plans to explore organic pear cultivation to enhance brand competitiveness and meet specific consumer demands[35] - The company aims to create value for shareholders and society by focusing on high-quality, green, and ecological products[35] - The company plans to strengthen brand building and diversify operations based on the sales of fresh and dried fruit products[69] - The company is actively pursuing real estate project cooperation and has completed equity transfer in real estate projects to improve asset liquidity[38] Risks and Challenges - The company faces risks from macroeconomic fluctuations, natural disasters, financial risks due to concentrated payments, and market disorderly competition[77][78][79][80] - The company has outlined potential risks in its future development strategies, which investors should consider[8] - The fruit industry faced intensified competition in 2015 due to a decline in domestic economic growth and consumer demand[32] Corporate Governance and Compliance - The company has maintained its independent board structure, with several independent directors contributing to governance[128] - The company has not reported any significant penalties or integrity issues involving its major stakeholders during the reporting period[96] - The company has complied with legal obligations and actively engaged in social responsibility initiatives during the reporting period[102] - The company has established a strict quality control system to meet increasing domestic food safety standards[113] Employee and Management - The company has established a training mechanism to enhance employee skills and responsibility, focusing on internal control and corporate culture[139] - The total compensation for key executives amounted to 112.02 million yuan, indicating a focus on retaining top talent[128] - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[97] Shareholder Information - The total number of ordinary shareholders increased from 10,257 to 11,129, representing a growth of approximately 8.5%[116] - Xinjiang Rongsheng Investment Co., Ltd. holds 35,278,015 shares, accounting for 23.88% of the total share capital[118] - During the reporting period, Xinjiang Rongsheng Investment Co., Ltd. reduced its holdings by 1,477,100 shares, which is 1% of the total share capital[124]

Financial Performance - Operating income increased by 58.53% to CNY 14,528,219.64 compared to the same period last year[11] - Net profit attributable to shareholders of the listed company was a loss of CNY 1,070,442.52, a decrease of 1,169.35% compared to the previous year[6] - The net profit for Q1 2018 was a loss of CNY 1,070,442.52, compared to a profit of CNY 100,102.41 in the previous year, indicating a significant decline in profitability[17] - Basic and diluted earnings per share were both -0.007 CNY, a decrease of 800% compared to the previous year[6] - The basic and diluted earnings per share for Q1 2018 were both CNY -0.007, compared to CNY 0.001 in the same period last year, reflecting a decline in earnings[18] Assets and Liabilities - Total assets decreased by 1.22% to CNY 291,490,112.10 compared to the end of the previous year[6] - The total assets decreased from CNY 295,095,289.95 at the beginning of the year to CNY 291,490,112.10 at the end of the period, reflecting a reduction of approximately 1.7%[16] - The total liabilities decreased from CNY 17,772,693.02 to CNY 15,298,282.35, showing a reduction of about 13.9%[16] - Inventory decreased by 49.48% to CNY 12,456,964.89 compared to the beginning of the year[11] - The inventory level dropped significantly from CNY 24,658,287.60 at the beginning of the year to CNY 12,456,964.89, a decrease of approximately 49.3%[15] - Other current assets increased by 53.11% to CNY 44,269,525.14 compared to the beginning of the year[11] - The long-term equity investment remained stable at CNY 11,168,277.62, unchanged from the beginning of the year[15] Cash Flow - Cash flow from operating activities increased by 31.91% to CNY 6,356,329.61 compared to the same period last year[6] - The company's cash flow from operating activities generated a net amount of CNY 6,356,329.61, an increase of 32.0% from CNY 4,818,771.09 in the previous year[20] - The company's cash inflow from operating activities totaled CNY 8,960,351.11, up from CNY 7,603,161.98 in the previous year, marking an increase of 17.8%[20] - The net cash flow from investing activities was -$16,847,432.87 for Q1 2018, compared to -$6,653,333.09 in the previous year[21] - Total cash and cash equivalents at the end of the period were $28,762,459.53, down from $39,253,562.79 at the beginning of the period[21] - The net increase in cash and cash equivalents was -$10,491,103.26, compared to -$1,834,562.00 in the previous year[21] - Cash inflows from investment activities totaled $23,152,567.13, while cash outflows amounted to $40,000,000.00, resulting in a net cash flow of -$16,847,432.87[21] - The company invested $40,000,000.00 in fixed assets and other long-term assets during the quarter[21] - The cash outflow for the acquisition of fixed assets and intangible assets was $205,092.00, indicating ongoing investment in long-term growth[21] - The company’s cash position has decreased significantly, reflecting challenges in cash management and investment returns[21] Shareholder Information - The total number of shareholders was 16,382 at the end of the reporting period[9] - The top shareholder, Xinjiang Rongsheng Investment Co., Ltd., held 23.88% of the shares, totaling 35,278,015 shares[9] Other Observations - The weighted average return on net assets decreased by 0.424 percentage points to -0.387%[6] - The company's other comprehensive income showed a loss of CNY 60,324.66, compared to a loss of CNY 1,001,939.15 in the previous year, indicating an improvement[18] - The report does not provide specific guidance on future performance or strategic initiatives, suggesting a need for further communication from management[21] - The cash flow from financing activities was not detailed in the report, indicating a potential area for further analysis[21]

Financial Performance - The net profit attributable to shareholders for 2017 was CNY 5.08 million, with an undistributed profit of CNY -128.62 million at the end of the reporting period[5]. - The operating revenue for 2017 was CNY 65.32 million, representing a decrease of 3.99% compared to CNY 68.03 million in 2016[20]. - The total assets at the end of 2017 amounted to CNY 295.10 million, reflecting an increase of 2.19% from CNY 288.76 million at the end of 2016[21]. - The net assets attributable to shareholders at the end of 2017 were CNY 277.32 million, showing a slight increase of 1.51% from CNY 273.19 million at the end of 2016[20]. - The basic earnings per share (EPS) for 2017 was CNY 0.034, compared to a loss of CNY 0.040 in 2016, marking a significant improvement[22]. - The company faced a net loss of CNY 228,384 in Q2 2017, but achieved a net profit of CNY 5,224,894 in Q4 2017[26]. - The company reported a total revenue adjustment of CNY 300,000 for 2015, leading to an increase in net profit by CNY 288,750 for that year[23]. - The company achieved operating revenue of CNY 65.32 million, a decrease of 3.99% compared to the previous year[43]. - Main business revenue from fruit sales was CNY 57.97 million, down 3.90% year-on-year, primarily due to a decrease in sales volume[49]. - The company reported a significant increase in cash and cash equivalents, reaching 39,253,562.79 RMB, up 359.17% from the previous period[61]. - The company reported a total revenue of 23,671.23 million, with a growth rate of 4.80% compared to the previous year[126]. - The company achieved a net profit of 5,023,671.23 million, reflecting a significant increase in profitability[126]. Cash Flow and Investments - The cash flow from operating activities for 2017 was CNY 3.80 million, a significant recovery from CNY -21.69 million in 2016[20]. - The net cash flow from operating activities was 3,803,400 RMB, while the net cash flow from investing activities was 26,901,400 RMB, resulting in a total cash flow increase of 30,704,800 RMB[58]. - The company invested RMB 66 million in bank financial products, with a remaining balance of RMB 23 million[121]. - The company approved the use of up to RMB 85 million of idle funds for low-risk financial products until December 31, 2018[122]. - The company has consistently provided returns above 3.45% across various financial products[124][125]. - The company has a strong track record of revenue generation from its financial products, with amounts ranging from $5 million to $40 million[124][125]. - The company is focused on maintaining and expanding its financial product offerings to enhance revenue streams[124][125]. Operational Management - The company aims to enhance the management of its pear production bases and explore new sales channels to increase revenue amid rising competition[34]. - The company is actively managing its production bases to improve output and profitability[42]. - The company aims to enhance the scientific management of its fruit planting bases to improve quality and yield while reducing production costs[69]. - The company has established a strict safety production and quality control system for Kuerle fragrant pears, adhering to green and organic food production standards[72]. - The company operates under a "company → base + farmers" model, signing contracts with farmers to manage production tasks[75]. - The company is exploring new sales models to increase sales and market share while ensuring controllable risks[69]. - The company plans to enhance management and operational capabilities to support rural development and contribute to poverty alleviation efforts[137]. Risks and Challenges - The company has outlined potential industry risks in its report, emphasizing the need for investors to be aware of these risks[7]. - The company faces risks from macroeconomic fluctuations, natural disasters, policy changes, and financial risks, which could impact production and revenue[95][96][97][98]. - The agricultural water price increased significantly, leading to a rise in planting costs for contractors, with water fees now ranging from 200 to 350 RMB per mu compared to 10 RMB previously[65]. Corporate Governance - The company’s financial report received a standard unqualified audit opinion from Zhongxing Caiguanghua Accounting Firm[4]. - The company’s board of directors has confirmed the accuracy and completeness of the annual report, taking legal responsibility for any misrepresentation[8]. - The company has established a robust internal control system to safeguard the rights of shareholders and creditors[139]. - The company maintains independent operations and governance, ensuring no interference from the controlling shareholder in its business activities[189]. - The company has a diverse board with members having extensive experience in finance, law, and management, which strengthens its strategic decision-making[171]. Shareholder Information - The company has a total of 14,497 ordinary shareholders at the end of the reporting period, down from 16,382 in the previous month[153]. - The largest shareholder, Xinjiang Rongsheng Investment Co., Ltd., holds 35,278,015 shares, representing 23.88% of total shares[155]. - There were no changes in the major shareholders or actual controllers during the reporting period[165]. - The report indicates no significant changes in the shareholding structure or any restrictions on share reduction[167]. Employee and Social Responsibility - The company emphasizes employee welfare, providing comprehensive social insurance and health check-ups[142]. - The company has committed to a poverty alleviation program, donating 350,600 to improve agricultural infrastructure in targeted villages[133]. - The company has initiated legal actions against contractors for unpaid fees, totaling 4 million, related to asset management agreements[129]. - The company has established a salary policy based on its operational strategy, which includes basic monthly salary, cash allowances, housing provident fund, social insurance, and performance bonuses[182].

Financial Performance - Operating revenue for the first nine months was CNY 41,739,031.47, representing a growth of 27.77% year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 147,876.39, an improvement from a loss of CNY 4,640,345.35 in the same period last year[7] - Basic earnings per share for the period was -CNY 0.001, compared to -CNY 0.031 in the same period last year[8] - The company's gross profit margin for the first three quarters was approximately 5.0%, down from 6.7% in the same period last year[19] - The net profit for the third quarter was a loss of CNY 19,595.00, compared to a loss of CNY 1,041,220.71 in the same quarter last year[20] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 304,379,099.96, an increase of 7.52% compared to the end of the previous year[7] - The total liabilities rose to CNY 38,004,222.17, compared to CNY 15,573,751.07 in the same period last year, indicating a significant increase of 143.5%[18] - The company's total equity decreased slightly to CNY 266,374,877.79 from CNY 267,524,693.33 at the end of the previous year[18] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 1,943,319.46, compared to an outflow of CNY 16,951,283.14 in the previous year[7] - Operating cash inflow for the year-to-date period is $54,061,928.36, down from $59,986,909.37 in the same period last year, representing a decrease of approximately 5%[22] - Net cash flow from operating activities is -$1,943,319.46, an improvement from -$16,951,283.14 year-over-year[22] - Cash and cash equivalents increased to ¥12,709,240.69 from ¥8,548,797.50, reflecting improved liquidity[16] - Cash inflow from investment activities increased to $153,509,800.83, compared to $105,871,034.66 in the previous year, marking an increase of about 45%[22] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,101[10] - The largest shareholder, Xinjiang Rongsheng Investment Co., Ltd., held 35,278,015 shares, accounting for 23.88% of the total shares[10] Income and Expenses - Investment income rose by 832.77% to ¥2,650,097.92, attributed to increased interest income from bank financial products[13] - The company reported a total non-recurring profit of CNY 1,830,678.06 for the period[10] - Operating costs increased by 30.49% to ¥39,943,046.11, driven by higher sales volume and acquisition costs of fruit[13] - The company reported a significant increase in sales expenses, totaling CNY 854,227.70 for the first three quarters, compared to CNY 822,420.70 last year[19] Other Financial Metrics - The weighted average return on net assets was -0.06%[8] - Other receivables decreased by 71.45% to ¥1,851,628.23, primarily due to the recovery of outstanding contract payments[13] - Accounts receivable increased to ¥21,012,543.44 from ¥0, representing a 100% increase due to unsettled customer payments[12] - Prepayments rose significantly to ¥1,045,225.21 from ¥59,977.21, marking a 1,642.70% increase attributed to increased advance payments for fruit purchases[13] - Intangible assets increased by 63.14% to ¥61,970,173.02, primarily due to land use rights payments[13] - Other payables surged by 237.37% to ¥9,365,890.83, mainly due to increased temporary collection fees[13] - The company completed the sale of brewery assets for ¥2,030,400, exceeding the appraisal value of ¥970,400[14] - The company reported a significant increase in tax and additional charges, which grew by 15,215.73 times to ¥521,292.37 due to adjustments in tax accounting[13]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 33,847,975.53, representing a 70.51% increase compared to CNY 19,851,392.42 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of CNY 128,281.39, an improvement from a loss of CNY 3,599,124.64 in the previous year[17]. - The net cash flow from operating activities was CNY 22,535,433.11, which is a 52.69% increase from CNY 14,758,959.96 in the same period last year[17]. - The total assets at the end of the reporting period were CNY 285,951,871.95, showing a 1.01% increase from CNY 283,098,444.40 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 0.42% to CNY 266,394,472.79 from CNY 267,524,693.33 at the end of the previous year[17]. - The basic earnings per share for the first half of 2017 was -CNY 0.001, an improvement from -CNY 0.024 in the same period last year[18]. - The weighted average return on net assets was -0.05%, an improvement from -1.32% in the previous year[18]. - The company reported a significant decrease in inventory, with a balance of CNY 6,728,358.33 compared to CNY 35,774,476.55 at the beginning of the year[80]. - The total profit for the first half of 2017 was -128,281.39 RMB, compared to -3,599,124.64 RMB in the same period last year, indicating a significant reduction in losses[85]. Revenue and Sales - The company achieved operating revenue of CNY 33.85 million, an increase of 70.51% compared to the same period last year[29]. - Main business revenue reached CNY 33.54 million, up 72.29% year-on-year[29]. - The company sold over 6,400 tons of Korla pears, primarily distributed to regions including Xinjiang, Beijing, Shanghai, Fujian, and Hainan[25]. - The company reported sales revenue of 29,232,040.13 RMB, up from 18,004,554.34 RMB, reflecting a year-over-year growth of 62.1%[87]. - Revenue from the sale of fruit and fruit wine is confirmed upon obtaining the signed delivery note from the buyer[163]. Cash Flow and Liquidity - The company’s cash and cash equivalents increased by 491.18% to CNY 50.54 million, mainly due to the recovery of receivables and maturity of financial products[36]. - The company's cash and cash equivalents increased to CNY 50,539,112.93 from CNY 8,548,797.50, indicating improved liquidity[80]. - The cash flow from investment activities showed a net inflow of 19,454,882.32 RMB, a turnaround from a net outflow of -9,751,519.04 RMB in the prior period[88]. - The company received cash from investment recoveries amounting to 109,962,149.32 RMB, compared to 60,000,000.00 RMB in the previous period, indicating a 83.3% increase[88]. Assets and Liabilities - The total liabilities increased to CNY 19,557,399.16 from CNY 15,573,751.07, indicating a rise in financial obligations[82]. - The company’s main asset, inventory, decreased by 81.19% to CNY 6.73 million, attributed to reduced stock levels[36]. - The accounts receivable rose to CNY 21,012,543.44, compared to CNY 0.00 at the beginning of the year, suggesting increased sales on credit[80]. - The total balance of other receivables at the end of the period is CNY 2,511,435.76, with a provision for bad debts amounting to CNY 1,546,392.02, representing a provision rate of approximately 61.5%[186]. Management and Governance - The company appointed Zhongxing Caiguanghua Accounting Firm as the financial audit institution for 2017, with an annual audit fee of CNY 200,000[54]. - The company also appointed Ruihua Accounting Firm for internal control audit for 2017, with an annual fee of CNY 100,000[54]. - The company appointed Chen Yibin as the new chairman on June 8, 2017, following the resignation of the previous chairman[75]. - The company has committed to maintaining the independence of its operations, including personnel, assets, finances, institutions, and business[53]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, natural disasters, policy changes, financial risks, and market competition, which could impact its operations and profitability[40][42][43][44][45]. - The company plans to enhance product quality and internal management to mitigate the adverse effects of economic cycles[41]. Corporate Social Responsibility - The company is actively involved in poverty alleviation efforts, providing funds and technology to improve infrastructure in targeted villages[62]. - The company has established a plan to support poverty-stricken villages based on their specific needs and challenges[64]. Accounting Policies - The financial statements are prepared based on the accrual basis of accounting, in accordance with the relevant accounting standards[98]. - The company recognizes gains and losses from joint operations only after the assets are sold to third parties, with full impairment losses recognized for assets contributed to joint operations[106]. - The company applies a corporate income tax rate of 25% on taxable income[172]. - The company does not have any applicable tax incentives or preferential tax rates[173]. Shareholder Information - The total number of ordinary shareholders reached 16,846 by the end of the reporting period[68]. - Xinjiang Rongsheng Investment Co., Ltd. holds 35,278,015 shares, accounting for 23.88% of the total shares[69]. - The controlling shareholder of the company is Xinjiang Rongsheng Investment Co., Ltd., holding a 23.88% stake[95].

Financial Performance - Operating revenue for the reporting period was CNY 9,164,089.54, representing a year-on-year increase of 27.09%[7] - The net profit attributable to shareholders of the listed company was CNY 100,102.41, a turnaround from a loss of CNY 1,208,368.79 in the previous year[7] - Basic earnings per share were CNY 0.001, compared to a loss of CNY 0.008 in the same period last year[7] - Operating revenue for Q1 2017 was CNY 9,164,089.54, an increase of 27.2% compared to CNY 7,210,505.81 in the same period last year[22] - Net profit for Q1 2017 was CNY 100,102.41, a significant recovery from a net loss of CNY 1,208,368.79 in Q1 2016[22] - Operating profit for Q1 2017 was CNY 191,251.24, compared to a loss of CNY 1,243,905.71 in the previous year[22] - Total comprehensive income for Q1 2017 was CNY 100,102.41, compared to a loss of CNY 1,208,368.79 in the previous year[23] Cash Flow and Assets - Net cash flow from operating activities increased significantly to CNY 4,818,771.09, up 844.66% compared to the same period last year[7] - Cash flow from operating activities for Q1 2017 was CNY 4,818,771.09, up from CNY 510,105.33 in Q1 2016[24] - Cash and cash equivalents decreased from CNY 8,548,797.50 at the beginning of the period to CNY 6,714,235.50 at the end of the period[18] - The cash and cash equivalents at the end of Q1 2017 were CNY 6,714,235.50, down from CNY 8,530,699.16 at the end of Q1 2016[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 281,062,662.02, a decrease of 0.72% compared to the end of the previous year[7] - Total assets decreased from CNY 283,098,444.40 at the beginning of the period to CNY 281,062,662.02 at the end of the period[19] - Total liabilities decreased from CNY 15,573,751.07 at the beginning of the period to CNY 14,439,805.43 at the end of the period[19] - The total equity attributable to shareholders of the listed company was CNY 266,622,856.59, a decrease of 0.34% from the previous year[7] Shareholder Information - The total number of shareholders at the end of the reporting period was 18,601[11] - The largest shareholder, Xinjiang Rongsheng Investment Co., Ltd., held 35,278,015 shares, accounting for 23.88% of the total shares[11] Operating Costs and Income - Operating costs increased by 32.34% year-on-year, mainly due to higher acquisition costs for fruit products[12] - The company reported non-operating income of CNY 1,551,758.91, primarily from interest income on bank financial products[9] - Investment income grew by 464.55% compared to the previous year, primarily due to increased interest income from financial products[12] - The company reported an investment income of CNY 1,186,973.06, compared to CNY 210,251.48 in the previous year[22] Other Financial Metrics - Accounts receivable increased by 100% compared to the beginning of the period, mainly due to unsettled customer payments[12] - Prepaid expenses increased by 64.63% compared to the beginning of the period, primarily due to increased prepaid electricity costs[12] - Other receivables decreased by 47.62% compared to the beginning of the period, mainly due to the recovery of overdue contract payments[12] - Deferred income tax liabilities decreased by 100% compared to the beginning of the period, primarily due to the settlement of bank financial products[12] Product Development and Strategy - The company did not report any new product developments or market expansion strategies during this quarter[6] Management Agreements - The company has signed asset management agreements for 2015 and 2016 with the Kuerle Horticultural Farm, confirming the management relationship for those years[14]

Financial Performance - Operating revenue for the year-to-date period was CNY 32,668,072.98, representing a decrease of 31.36% year-on-year[5] - Net profit attributable to shareholders was a loss of CNY 4,640,345.35, compared to a loss of CNY 4,292,637.17 in the same period last year[5] - The net cash flow from operating activities was negative CNY 16,951,283.14, a decline of 162.22% compared to the previous year[5] - Basic earnings per share were reported at -0.0314 CNY, compared to -0.0291 CNY in the same period last year[5] - The weighted average return on net assets was -1.71%, slightly lower than -1.59% from the previous year[5] - Total operating revenue for the first nine months was CNY 32,668,072.98, a decrease of 31.3% compared to CNY 47,592,366.94 in the same period last year[26] - Total operating costs for the first nine months were CNY 36,836,775.34, down 29% from CNY 51,846,941.31 year-on-year[26] - Net loss attributable to shareholders for the first nine months was CNY -4,640,345.35, compared to a loss of CNY -4,292,637.17 in the previous year[27] - The company reported a gross profit margin of -9.2% for the first nine months, compared to -8.9% in the same period last year[26] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 310,424,416.36, an increase of 4.77% compared to the end of the previous year[5] - The company reported a decrease in net assets attributable to shareholders by 1.69% to CNY 269,545,829.01 compared to the previous year[5] - Current assets increased to CNY 143,539,365.49 from CNY 122,869,504.43, reflecting a growth of approximately 16.8%[21] - Inventory levels rose significantly to CNY 57,296,221.11, up from CNY 21,980,121.13, indicating a growth of about 160%[21] - The company's total liabilities increased to CNY 40,878,587.35 from CNY 22,098,486.06, representing an increase of approximately 84.9%[23] - The total equity attributable to shareholders decreased to CNY 269,545,829.01 from CNY 274,186,174.36, reflecting a decline of approximately 1.9%[23] Shareholder Information - The total number of shareholders at the end of the reporting period was 11,854[10] - The largest shareholder, Xinjiang Rongsheng Investment Co., Ltd., held 23.88% of the shares[11] Cash Flow - Cash flow from operating activities for the first nine months of 2016 was CNY -16,951,283.14, a decline from CNY 27,242,424.20 in the same period of 2015[31] - Total cash inflow from operating activities for the first nine months of 2016 was CNY 59,986,909.37, down from CNY 66,303,851.42 in the same period of 2015[31] - Operating cash flow for the first nine months of 2016 was CNY 59,986,909.37, a decrease of 48.3% compared to CNY 116,293,495.93 in the same period last year[34] - Total cash outflow from operating activities was CNY 76,938,192.51, compared to CNY 39,060,727.22 in the previous year, reflecting increased operational costs[35] - The net increase in cash and cash equivalents for the period was CNY 3,728,772.72, a decrease from CNY 32,206,684.71 in the previous year[35] Income and Expenses - Non-operating income included CNY 389,726.03 from financial products, contributing to a total of CNY 936,571.58 for the year-to-date[9] - Sales expenses decreased by 53.66% compared to the same period last year, mainly due to reduced electricity, labor, and depreciation costs[14] - Investment income increased by 100% compared to the same period last year, mainly due to adjustments in long-term equity investments and interest income from bank financial products[14] - Non-operating income increased by 100% compared to the same period last year, primarily due to gains from the disposal of fixed assets[14] - Non-operating expenses increased by 15,284.98% compared to the same period last year, mainly due to donations for poverty alleviation[14] - Income tax expenses increased by 1,864.50% compared to the same period last year, primarily due to adjustments in deferred income tax expenses[14] Future Commitments - The company has committed to not engaging in competitive businesses post equity changes, ensuring compliance with regulatory requirements[18] - The company plans to minimize related party transactions following the completion of the equity changes, aiming for fair market practices[18] - The company has made commitments to maintain the independence of its operations, assets, and financials post equity changes[18]

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 19,851,392.42, a decrease of 53.96% compared to CNY 43,115,302.80 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 3,599,124.64, compared to a loss of CNY 1,754,846.78 in the previous year[18]. - The net cash flow from operating activities decreased by 66.26%, amounting to CNY 14,758,959.96, down from CNY 43,737,355.37 in the same period last year[18]. - The main business income was CNY 19.47 million, down 54.72% year-on-year, primarily due to a decrease in sales volume and lower selling prices[25]. - The gross profit margin for the fruit industry was 5.05%, a decrease of 5.91 percentage points year-on-year[30]. - The company reported a significant reduction in sales revenue from CNY 48,665,535.90 to CNY 18,004,554.34, reflecting a decline of 62.9%[93]. - Operating profit showed a loss of ¥2,843,370.82 compared to a loss of ¥1,717,112.40 in the previous period, indicating a worsening of approximately 65%[84]. - Net profit decreased to a loss of ¥3,599,124.64 from a loss of ¥1,754,846.78, reflecting an increase in losses of about 105% year-over-year[84]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 286,391,543.96, a decrease of 3.34% from CNY 296,284,660.42 at the end of the previous year[18]. - The total current assets as of June 30, 2016, amounted to CNY 117,653,420.88, a decrease from CNY 122,869,504.43 at the beginning of the period[72]. - Total liabilities decreased from CNY 22,098,486.06 to CNY 15,804,494.24, a reduction of about 29%[75]. - Current liabilities decreased significantly from CNY 11,280,486.06 to CNY 4,986,494.24, a drop of approximately 56%[75]. - The total amount of other receivables decreased from CNY 7,329,761.51 to CNY 4,944,975.95, a decline of approximately 32.6%[72]. - The company's long-term equity investments stood at CNY 29,665,071.15, slightly down from CNY 29,939,160.23[72]. Cash Flow - Cash received from sales of goods and services was ¥18,004,554.34, down from ¥48,665,535.90, a decrease of approximately 63% year-over-year[89]. - Operating cash inflow totaled CNY 20,670,504.11, a decrease of 62.2% compared to CNY 54,620,148.49 in the previous period[93]. - Cash outflow from investment activities amounted to CNY 70,031,930.00, with a net cash flow from investment activities of -CNY 9,751,519.04[94]. - Cash and cash equivalents increased by CNY 5,007,440.92, compared to an increase of CNY 48,769,033.34 in the previous period[94]. - The ending balance of cash and cash equivalents was CNY 22,747,623.79, down from CNY 56,547,551.66 at the end of the previous period[94]. Shareholder and Equity Information - The net assets attributable to shareholders of the listed company were CNY 270,587,049.72, down 1.31% from CNY 274,186,174.36 at the end of the previous year[18]. - The total equity attributable to the parent company at the end of the reporting period is 270,587,049.72 RMB, a decrease from the previous period's 271,810,496.46 RMB, reflecting a decline of approximately 0.45%[98]. - The company did not propose any profit distribution plan or capital reserve transfer to share capital during the reporting period[5]. - The company has not reported any major related party transactions during the reporting period[52]. - The company has not disclosed any new product developments or technological advancements in this reporting period[98]. Operational Changes and Strategies - The company implemented a sales strategy of "sales based on orders" to control risks and adapt to market demand, resulting in no sales in several regions[35]. - The company plans to explore organic pear cultivation to enhance product quality and brand competitiveness[36]. - The company aims to improve asset management and profitability through effective management of production bases and cost control measures[31]. - The company has not engaged in any external equity investments during the reporting period[37]. Legal and Compliance Matters - The company has faced litigation regarding a cotton purchase contract, with a total of 2.5 million RMB in claims, all of which have been recovered by the end of the reporting period[50]. - The ongoing litigation regarding the entrusted management income is still in progress as of the report date[51]. - The company has appointed Zhongxing Caiguanghua Accounting Firm as the financial audit institution for the year 2016, with an audit fee of RMB 200,000[56]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, with sufficient operating funds for at least the next 12 months[114]. - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[115]. - The accounting period for the company runs from January 1 to December 31 each year[116]. - The company's functional currency for accounting purposes is Renminbi[118].