Financial Performance - Net profit attributable to shareholders decreased by 41.34% year-on-year, totaling RMB 54,561,006.53 for the first nine months[8] - Operating income increased by 2.11% year-on-year, reaching RMB 251,914,780.47 for the first nine months[8] - Basic earnings per share decreased by 41.18% to RMB 0.070[8] - Total revenue for Q3 2020 was CNY 95,466,803.66, a decrease of 13.7% compared to CNY 110,610,787.34 in Q3 2019[32] - The company's net loss for Q3 2020 was CNY 3,123,306.41, compared to a loss of CNY 305,171.28 in Q3 2019[32] - The company's operating profit for Q3 2020 was ¥-10,130,194.16, compared to an operating profit of ¥9,208,348.79 in Q3 2019, marking a decline of 209.8%[36] - The total profit for Q3 2020 was ¥-9,565,442.27, down from ¥9,206,548.79 in Q3 2019, reflecting a decrease of 204.3%[36] - The total comprehensive income for Q3 2020 was ¥29,338,863.46, compared to ¥31,885,455.43 in Q3 2019, a decrease of approximately 7.9%[34] Asset and Liability Changes - Total assets decreased by 7.47% year-on-year, amounting to RMB 1,310,007,223.72 at the end of the reporting period[8] - Total assets decreased to ¥1,310,007,223.72 from ¥1,415,800,418.59, reflecting a decline in both current and non-current assets[27] - Total liabilities decreased to CNY 439,763,668.38 from CNY 623,951,371.70 year-over-year[31] - The total assets as of the end of Q3 2020 amounted to ¥1,415,800,418.59, with total liabilities at ¥623,647,520.87, resulting in total equity of ¥792,152,897.72[49] - The company’s retained earnings showed a deficit of -¥223,383,329.91, indicating challenges in profitability[49] Cash Flow and Financial Health - The net cash flow from operating activities decreased by 36.47% year-on-year, amounting to RMB 35,663,404.09[8] - Cash and cash equivalents decreased by 35.32% year-on-year, totaling RMB 117,611,101.44[14] - The net cash flow from operating activities for the first three quarters of 2020 was ¥35,663,404.09, a decrease of 36.5% compared to ¥56,133,052.50 in the same period of 2019[41] - Total cash inflow from operating activities was ¥261,496,412.21, down from ¥319,193,209.98 in the previous year, reflecting a decline of 18.1%[41] - The company incurred cash outflows of ¥225,833,008.12 from operating activities, down from ¥263,060,157.48 in the same period of 2019[41] - The total cash outflow from financing activities was ¥189,196,439.61, compared to ¥260,457,268.93 in the previous year, indicating a reduction of 27.3%[42] Expense Management - Operating costs rose to ¥128,340,449.63, reflecting a significant increase of 15.55% from ¥111,072,880.32 in the prior period, primarily due to increased costs in the pharmaceutical sector[17] - Sales expenses decreased by 23.41% to ¥40,546,554.10 from ¥52,937,954.69, attributed to better cost control measures[17] - Financial expenses surged by 110.69% to ¥4,868,739.56, up from ¥2,310,829.46, mainly due to increased borrowing interest[17] - R&D expenses decreased by 42.46% to ¥8,316,124.31 from ¥14,453,646.89, indicating a reduction in investment in research and development[17] - Research and development expenses for Q3 2020 were CNY 2,495,855.31, down from CNY 4,205,907.97 in Q3 2019[32] Shareholder Information - The number of shareholders reached 29,695 at the end of the reporting period[12] - The total equity attributable to shareholders increased to CNY 793,554,089.14 from CNY 752,585,076.34 year-over-year[30] - Basic and diluted earnings per share for the third quarter were both -¥0.012, compared to ¥0.015 in the same quarter of 2019[38]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥156,449,097.57, representing a 12.92% increase compared to ¥138,550,219.06 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 58.43% to ¥30,635,518.42 from ¥73,703,028.64 in the previous year[19]. - The net profit after deducting non-recurring gains and losses increased significantly by 339.71% to ¥10,333,409.12 from ¥2,350,049.39 in the same period last year[19]. - The net cash flow from operating activities was ¥24,610,520.33, down 20.86% from ¥31,097,355.26 in the previous year[19]. - Basic earnings per share decreased by 58.51% to ¥0.039 from ¥0.094 in the same period last year[20]. - The weighted average return on net assets decreased by 3.77 percentage points to 4.05% from 7.82% in the previous year[20]. - The company reported a net loss of ¥192,747,811.49, an improvement from a loss of ¥223,383,329.91 in the previous period[89]. - The net profit for the first half of 2020 was ¥31,946,415.49, down from ¥74,122,020.60 in the first half of 2019, indicating a decline of about 56.9%[96]. - The company's basic earnings per share for the first half of 2020 was ¥0.039, compared to ¥0.094 in the same period of 2019, a decrease of approximately 58.5%[97]. Assets and Liabilities - The total assets decreased by 7.53% to ¥1,309,198,152.28 from ¥1,415,800,418.59 at the end of the previous year[19]. - Current assets totaled ¥272,576,719.22, down from ¥375,796,461.48, indicating a decrease of about 27.5%[88]. - Cash and cash equivalents decreased to ¥116,239,481.92 from ¥181,840,564.39, representing a decline of approximately 36.1%[87]. - Total liabilities decreased to ¥502,553,674.44 from ¥623,647,520.87, a reduction of about 19.4%[89]. - Short-term borrowings decreased significantly to ¥80,000,000.00 from ¥160,000,000.00, a decrease of 50%[88]. - Long-term borrowings decreased to ¥183,750,000.00 from ¥210,000,000.00, reflecting a decline of approximately 12.6%[89]. Market and Business Operations - The company's main business includes the R&D, production, and sales of food and health food products, as well as the operation and management of elderly medical care institutions[24]. - The health product segment has seen a market scale growth, reaching approximately RMB 222.7 billion in 2019, with expectations to exceed RMB 330 billion by 2021[26]. - The elderly care market is expanding due to an aging population, with 25.39 million people aged 60 and above in China by the end of 2019, representing 18.1% of the population[28]. - The company operates 6 self-owned profit-making elderly medical care institutions, generating revenue from medical care, drug sales, and meal services[28]. - The company has established a strong brand presence with trademarks like "昂立," recognized as a "China Famous Trademark" and a top brand in the health product sector[30]. - The company has a significant scale advantage in the elderly care sector, with a leading number of care beds in the industry[31]. Cost Management and Expenses - The operating costs increased by 31.71% to approximately ¥83.09 million, primarily due to the growth in the healthcare segment[40]. - Sales expenses decreased by 22.30% to approximately ¥30.31 million, while management expenses were reduced by 23.00% to approximately ¥21.66 million[40]. - The company has implemented a structured cost management system to analyze operational costs across various levels, enhancing cost control capabilities[31]. Research and Development - The company launched several new probiotic products targeting specific demographics, including a solid beverage for urban young women and a DHA algae oil powder for children, expected to hit the market between late 2020 and early 2021[33]. - Research and development expenses amounted to ¥5,820,269.00, significantly lower than ¥10,247,738.92 in the first half of 2019, indicating a reduction of approximately 43.5%[95]. Shareholder and Equity Information - The company’s major shareholder, Zhongjin Group, increased its stake by acquiring 7,800,600 shares, representing 1.00% of the total share capital at an average price of 3.10 CNY per share[54]. - The total number of ordinary shareholders as of the end of the reporting period is 34,196[74]. - The top ten shareholders hold a total of 18.36% (143,184,187 shares) of the company's shares[77]. - The company’s total equity decreased from ¥1,197,453,882.20 to ¥1,179,500,940.50, a decline of approximately 1.5%[93]. Environmental and Regulatory Compliance - The company has implemented various environmental protection measures, including biochemical treatment for wastewater and odor removal systems[68]. - The company has not experienced any environmental pollution incidents or received administrative penalties from environmental protection departments during the reporting period[68]. Future Outlook and Strategic Plans - The company plans to enhance its brand presence through targeted marketing campaigns, achieving a media reach of 410 million during the Spring Festival advertising[33]. - The company anticipates that the slowdown in existing business growth and delays in new institution openings will impact the performance commitments for 2020-2021[52]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[110]. Financial Reporting and Accounting Policies - The company’s financial statements are prepared based on the assumption of going concern, indicating no significant doubts about its ability to continue operations[123]. - The company implemented new accounting policies effective January 1, 2020, including the new revenue recognition standard and new lease accounting standard[194]. - The company recognizes expected liabilities when there is a present obligation that is likely to result in an outflow of economic benefits[182].

Financial Performance - Operating revenue increased by 6.96% year-on-year, reaching CNY 83,905,629.95[5] - Net profit attributable to shareholders decreased by 76.42%, totaling CNY 18,103,106.64[5] - Basic earnings per share dropped by 76.53% to CNY 0.023[5] - The weighted average return on equity decreased by 2.32 percentage points to 2.38%[5] - Total operating revenue for Q1 2020 was CNY 83,907,625.51, an increase of 3.3% compared to CNY 80,276,144.62 in Q1 2019[30] - Net profit attributable to shareholders for Q1 2020 was CNY 18,103,106.64, a decrease of 76.4% from CNY 76,783,603.67 in Q1 2019[31] - Basic earnings per share for Q1 2020 were CNY 0.023, down from CNY 0.098 in Q1 2019[31] - In Q1 2020, the company reported a net profit of -5,992,281.97 RMB, compared to a net profit of 69,107,415.07 RMB in Q1 2019, indicating a significant decline[33] - The total comprehensive income for Q1 2020 was -5,992,281.97 RMB, compared to -13,471,318.07 RMB in Q1 2019, indicating a reduced loss[33] Asset and Liability Changes - Total assets decreased by 6.11% from the previous year, amounting to CNY 1,415,800,418.59[5] - Total assets decreased from ¥1,415,800,418.59 to ¥1,329,304,349.70, reflecting a reduction in current assets[22] - The company reported a total asset of CNY 1,723,275,753.55 as of Q1 2020, down from CNY 1,821,405,253.90 in Q1 2019[27] - Total liabilities decreased to CNY 547,861,106.82 in Q1 2020 from CNY 623,951,371.70 in Q1 2019, reflecting a reduction of 12.2%[27] - The company’s total equity decreased to CNY 1,175,414,646.73 in Q1 2020 from CNY 1,197,453,882.20 in Q1 2019[27] Cash Flow Analysis - Cash flow from operating activities improved by 55.24%, amounting to CNY -9,242,134.47[5] - Net cash flow from operating activities improved by 55.24% to -¥9,242,134.47 compared to -¥20,650,456.60 in the previous period[20] - The net cash flow from operating activities was $59,535,077.05, a significant improvement compared to a net outflow of $12,861,163.79 in the previous year[38] - Total cash outflow from operating activities amounted to $51,291,007.04, up from $31,000,749.25 year-over-year[38] - The ending cash and cash equivalents balance was $44,038,576.84, a decrease from $369,451,138.87 year-over-year[38] Expense and Income Changes - Operating costs rose by 27.26% compared to the previous period, totaling CNY 45,329,446.42[15] - Management expenses increased by 34.22% to ¥12,844,304.75 due to the addition of the healthcare segment[16] - Financial expenses decreased by 39.06% to ¥3,695,149.12 as a result of reduced foreign exchange losses[16] - Other income surged by 54,710.14% to ¥1,822,853.65 primarily from government subsidies received[16] - Investment income dropped by 82.53% to ¥16,788,969.86 due to the disposal of Industrial Securities in the previous period[16] - Credit impairment losses decreased by 97.77% to ¥42,710.58 as receivables remained within the payment period[17] - Income tax expenses fell by 85.61% to ¥3,323,322.20 due to tax provisions related to the disposal of Industrial Securities in the previous period[17] - The company incurred financial expenses of 4,183,136.68 RMB in Q1 2020, compared to 1,815,418.04 RMB in Q1 2019, reflecting an increase of 130.5%[33] - The company paid $8,761,298.81 in employee compensation and related cash payments, compared to $11,768,748.74 in the previous year[38] - The company incurred tax payments of $311,097.91, significantly lower than $2,007,663.78 in the previous year[38] Shareholder Information - The number of shareholders reached 40,108 at the end of the reporting period[11] - The company repurchased 5,080,000 shares, accounting for 0.6513% of the total share capital[19] Investment Activities - Net cash flow from investing activities decreased by 96.25% to ¥11,630,203.02 due to the previous period's disposal of Industrial Securities[20] - The total cash inflow from investing activities was $324,465,324.56, while cash outflow was $12,970,606.04[38]

Financial Performance - In 2019, the company's operating revenue was CNY 332,602,654.23, an increase of 33.56% compared to CNY 249,037,021.14 in 2018[21] - The net profit attributable to shareholders was a loss of CNY 77,794,294.01, improving by 84.63% from a loss of CNY 506,039,123.53 in 2018[21] - The net cash flow from operating activities was CNY 99,064,926.35, a significant increase of 694.20% compared to CNY 12,473,573.61 in 2018[21] - The total assets at the end of 2019 were CNY 1,415,800,418.59, a decrease of 1.25% from CNY 1,433,752,750.98 at the end of 2018[21] - The basic earnings per share for 2019 was -CNY 0.10, an improvement of 84.59% from -CNY 0.649 in 2018[22] - The weighted average return on equity was -8.98%, an increase of 30.64 percentage points from -39.62% in 2018[23] - The company reported a net asset attributable to shareholders of CNY 752,585,076.34 at the end of 2019, a decrease of 16.68% from CNY 903,233,601.57 at the end of 2018[21] - The company faced a delisting risk due to consecutive years of negative net profit attributable to shareholders[6] Revenue and Profit Trends - In Q1, the company reported revenue of approximately ¥78.44 million, while in Q2, revenue decreased to about ¥60.11 million, followed by an increase to ¥108.15 million in Q3, and a decline to ¥85.90 million in Q4[24] - The net profit attributable to shareholders was ¥76.78 million in Q1, but turned negative in Q2 with a loss of ¥3.08 million, followed by a profit of ¥19.30 million in Q3, and a significant loss of ¥170.80 million in Q4[24] - The company’s total revenue for 2019 was CNY 332.6 million, representing a year-on-year increase of 33.56%[41] - The net profit attributable to shareholders was CNY -78 million, showing a year-on-year growth of 84.63% due to the disposal of long-term equity investments[41] Operational Developments - The company operates six self-owned profit-making elderly care institutions, generating revenue from medical care, drug sales, and meal services, with costs including rent and employee salaries[32] - The company has completed construction of three new elderly care facilities, with one already in trial operation[39] - The average occupancy rate of the newly acquired Shanghai Renxing increased from 83.5% to 86.3% during the reporting period[39] - The company is focused on expanding its elderly care services and management consulting for non-profit institutions, indicating a strategic move towards the aging population market[32] Research and Development - The company’s R&D expenses increased by 13.94% to CNY 17.9 million, reflecting a focus on product development[43] - Research and development expenses totaled CNY 17,854,979.71, accounting for 5.37% of total revenue, with 51 R&D personnel representing 5.5% of the total workforce[52] - The company plans to continue R&D on probiotic strains and production processes, with 5 new terminal products to be developed in the upcoming year[73] Market and Industry Insights - The company’s health supplement segment is experiencing growth, with the Chinese health supplement market reaching ¥257.5 billion in 2018, reflecting an 8.4% year-on-year increase[31] - The health food market in China reached ¥257.5 billion, with an expected growth of 8.4% year-on-year[60] - The elderly care industry is projected to face a shortfall of 4 million beds by 2030, indicating a significant market opportunity[61] Corporate Governance and Compliance - The company has adhered to the revised financial reporting formats issued by the Ministry of Finance in 2019, ensuring compliance with updated accounting standards[98] - The company engaged Lixin Accounting Firm for auditing services, with a remuneration of 1,000,000 RMB for the audit period[101] - The company has established a risk management system to address various risks, including compliance, labor, and fire hazards, with performance management linked to risk management outcomes[85] Shareholder and Equity Information - The company did not distribute any dividends in 2019, 2018, and 2017, with a cash dividend amount of 50,700,000 RMB in 2017, representing 31.60% of the net profit attributable to ordinary shareholders[93] - The total guarantee amount provided by the company, including guarantees to subsidiaries, was 140 million RMB for short-term loans and 230 million RMB for long-term loans as of December 31, 2019[109] - The total number of ordinary shares and the share capital structure remained unchanged during the reporting period[120] Financial Position and Cash Flow - The company reported a significant increase in cash received from sales, totaling CNY 343,363,080.75 in 2019, compared to CNY 294,292,957.21 in 2018[190] - The total cash and cash equivalents at the end of 2019 were CNY 181,782,564.39, down from CNY 220,562,894.99 at the end of 2018[192] - The company experienced a net decrease in cash and cash equivalents of CNY -38,780,330.60 for the year 2019[192] Challenges and Risks - The COVID-19 pandemic has impacted sales and production, with strict controls on new resident admissions in elderly care facilities affecting occupancy rates[88] - The company faces risks including potential delisting due to negative net profits for two consecutive years, which could trigger warnings under the Shanghai Stock Exchange rules[87] - The company has faced challenges with non-recurring losses, including a loss of ¥92.64 million from non-current asset disposals in 2019[26]

Financial Performance - Net profit attributable to shareholders rose by 12.16% to RMB 93,005,042.87 for the first nine months[7] - Operating revenue for the first nine months increased by 27.25% to RMB 246,701,778.16 compared to the same period last year[7] - The company reported a net loss of ¥49,315,535.92 for the period, an improvement from a loss of ¥228,112,625.96 in the previous period[24] - Net profit for Q3 2019 was ¥27,288,928.41, compared to ¥18,916,771.10 in Q3 2018, marking an increase of 43.5%[29] - The company achieved an investment income of ¥93,044,463.69 for the first three quarters of 2019, compared to ¥94,209,267.01 in the same period of 2018[29] - The total comprehensive income for Q3 2019 was ¥31,885,455.43, compared to ¥18,916,771.10 in Q3 2018, indicating a growth of 68.4%[30] Assets and Liabilities - Total assets increased by 21.04% year-on-year, reaching RMB 1,735,467,120.40[7] - The company reported a significant increase in accounts receivable, which rose by 112.27% to RMB 79,709,884.68[12] - The company’s long-term equity investments increased by 11.26% to RMB 396,201,506.83[12] - Total liabilities reached ¥690,990,040.12, up from ¥450,680,217.13, marking an increase of approximately 53.2%[24] - Non-current liabilities rose significantly to ¥270,144,731.88 from ¥34,438,319.73, indicating an increase of over 684%[24] - The total assets and shareholders' equity amounted to ¥1,984,982,227.59 and ¥1,309,499,143.70 respectively, reflecting a year-on-year increase of 15.6% and 4.1%[28] Cash Flow - The net cash flow from operating activities improved significantly, showing a net inflow of RMB 56,133,052.50, a 496.18% increase year-on-year[7] - The net cash flow from investing activities decreased by 668.13% to -¥299,879,347.44, mainly due to the payment of ¥600,000,000 for the acquisition[19] - The company reported a net cash flow from operating activities of CNY 56,133,052.50 for the first three quarters of 2019, a significant improvement from a net outflow of CNY 14,168,719.21 in the same period of 2018[36] - The net cash flow from financing activities was 247,022,731.07 RMB, a substantial increase from 17,443,390.41 RMB in the previous year[39] - The total cash outflow from investment activities was 620,216,971.88 RMB, compared to 53,470,778.03 RMB in Q3 2018, reflecting aggressive investment strategies[39] Shareholder Information - The number of shareholders reached 42,015, with the top ten shareholders holding a combined 66.88% of shares[10] - The company has not yet repurchased shares as part of its share buyback plan initiated earlier in the year[20] Research and Development - Research and development expenses increased by 41.11% to ¥14,453,646.89, reflecting a higher investment in R&D[17] - Research and development expenses for the first three quarters of 2019 were ¥14,453,646.89, up from ¥10,242,943.62 in the same period of 2018, indicating a growth of 41.5%[28] - Research and development expenses in Q3 2019 amounted to CNY 3,174,999.96, up 54.4% from CNY 2,056,738.77 in Q3 2018[33] Acquisitions - The company completed the acquisition of 100% of Shanghai Renxing, impacting various financial metrics including goodwill and intangible assets[18] - The company reported an increase in accounts receivable due to the consolidation of Shanghai Renxing's receivables[14] - Deferred tax liabilities increased due to the valuation surplus from the acquisition of Shanghai Renxing[15] Financial Ratios - The weighted average return on equity increased by 4.55 percentage points to 9.76%[7] - Basic earnings per share for Q3 2019 were ¥0.025, slightly up from ¥0.024 in Q3 2018[30] - The total operating profit for the first three quarters of 2019 was CNY 84,209,675.29, compared to CNY 77,404,463.13 in the same period of 2018, reflecting a growth of 8.0%[33]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥138,550,219.06, a decrease of 4.87% compared to ¥145,645,882.47 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥73,703,028.64, an increase of 14.48% from ¥64,381,470.28 year-on-year[19]. - The total profit reached 94.82 million yuan, reflecting a year-on-year increase of 16.65%[32]. - The company reported a significant decrease of 87.19% in net profit after deducting non-recurring gains and losses, amounting to ¥2,350,049.39 compared to ¥18,339,757.87 in the previous year[19]. - The company achieved total revenue of 142.59 million yuan, a year-on-year decrease of 5.00%[32]. - The basic earnings per share for the first half of 2019 were ¥0.094, up 13.25% from ¥0.083 in the same period last year[20]. - The total comprehensive income for the first half of 2019 was CNY 74,122,020.60, compared to a loss of CNY 77,219,194.22 in the same period of 2018[87]. - The company reported a net loss of RMB 68,617,550.15 for the first half of 2019, an improvement compared to a net loss of RMB 228,112,625.96 in the same period of the previous year[80]. Cash Flow and Investments - The net cash flow from operating activities was ¥31,097,355.26, a significant improvement from a negative cash flow of ¥27,700,748.54 in the previous year[19]. - Cash inflows from operating activities totaled CNY 213,598,084.20, an increase from CNY 187,795,714.78 in the same period of 2018[93]. - The company reported a significant increase in cash received from investment recoveries, amounting to 323,966,286.81 RMB, compared to 107,735,252.68 RMB in the same period last year[96]. - The company incurred total cash outflows from financing activities of 194,884,659.19 RMB, compared to 227,459,268.48 RMB in the same period last year, reflecting a decrease of about 14%[94]. - The net cash flow from investment activities was -49,881,394.66 RMB, a decline from a positive cash flow of 55,777,336.08 RMB in the prior year[94]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,727,403,686.47, representing a 20.48% increase from ¥1,433,752,750.98 at the end of the previous year[19]. - The total liabilities increased to RMB 699,210,981.61 from RMB 450,680,217.13 at the end of 2018, indicating a significant rise in financial obligations[80]. - The company's current assets decreased to RMB 332,581,534.91 from RMB 339,824,728.64 at the end of 2018, primarily due to a reduction in cash and cash equivalents[79]. - The company's total liabilities increased to CNY 682,193,883.03 from CNY 458,284,248.96, marking a rise of 48.9%[84]. - The company's equity attributable to shareholders rose to RMB 979,587,712.48 from RMB 903,233,601.57 at the end of 2018, reflecting improved shareholder value[80]. Strategic Initiatives - The company is focusing on the acquisition of elderly care institutions and the disposal of non-operating assets to concentrate on core business development[32]. - The company has strengthened market planning by launching the Angli Health brand strategy and upgrading its visual identity[32]. - New product development has been accelerated, with strict quality control measures implemented[32]. - The company has completed the relocation of its new production base and is in the process of trial production for some production lines[32]. - The company has established a strong competitive edge in the probiotic sector, holding 8 authorized invention patents and 21 strains of proprietary probiotics[29]. Shareholder Information - The total number of ordinary shareholders as of the reporting period end was 46,068[70]. - The top ten shareholders held a total of 413,000,000 shares, representing 51.82% of the total shares[72]. - The largest shareholder, Dazhong Transportation Group, held 143,184,187 shares, accounting for 18.36% of the total shares[72]. Compliance and Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[6]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[7]. - The company has not yet repurchased shares despite announcing a buyback plan on January 30, 2019[50]. - The company has not reported any major litigation or arbitration matters during the reporting period[58]. - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[56]. Research and Development - Research and development expenses increased by 45.01% to ¥10,247,738.92, up from ¥7,066,741.52 in the previous year[35]. - The company has invested approximately 70 million RMB to establish a new production facility in Songjiang District, Shanghai, which has been completed by the reporting period[44]. - The company obtained production licenses for several products, including protein solid beverages and probiotics, with some production lines already in operation[50]. Risk Factors - The company faces risks related to product quality, industry policies, rising labor costs, and potential defaults on loans due to economic conditions[48][49]. - The company has not disclosed any significant changes in accounting policies or estimates during the reporting period[67]. - The company has not reported any major contract performance issues during the reporting period[65].

Financial Performance - Revenue for the reporting period decreased by 4.18% to CNY 78,443,142.86 compared to the same period last year[8] - Net profit attributable to shareholders increased by 147.95% to CNY 76,783,603.67 compared to the same period last year[8] - The net profit excluding non-recurring gains and losses decreased by 48.11% to CNY 8,426,994.28 compared to the same period last year[8] - Basic and diluted earnings per share increased by 145.00% to CNY 0.098 per share[8] - The company reported a net loss of CNY 36,758,737.62 for the first quarter of 2019, compared to a net loss of CNY 228,112,625.96 in the previous year[26] - Total operating revenue for the first quarter was 80,276,144.62, a decrease from 83,632,346.22 in the previous year, representing a decline of approximately 4.5%[32] - Net profit for the first quarter reached 77,142,408.21, compared to 31,744,233.35 in the same period last year, indicating a significant increase of approximately 142.5%[33] - The company's operating profit was 100,096,918.12, up from 36,462,334.52, reflecting an increase of approximately 174.6%[32] - The total profit for the quarter was 100,233,059.87, compared to 36,484,167.43 in the previous year, showing an increase of approximately 174.5%[32] - The company's tax expenses for the quarter were 23,090,651.66, compared to 4,739,934.08 in the previous year, reflecting an increase of approximately 386%[32] Cash Flow - The company reported a net cash flow from operating activities of -CNY 20,650,456.60, indicating a decline compared to the previous year[8] - The company's net cash flow from operating activities decreased by 139.93% to -20,650,456.60 RMB, primarily due to accounts receivable not being collected on time, resulting in a cash decrease of 20.95 million RMB compared to the same period last year[18] - In Q1 2019, the cash inflow from sales and services was ¥55,886,499.16, a decrease of 27.4% compared to ¥76,843,015.63 in Q1 2018[38] - The net cash flow from operating activities was -¥20,650,456.60 in Q1 2019, worsening from -¥8,606,885.71 in Q1 2018[39] - The total cash inflow from operating activities was ¥65,939,408.49 in Q1 2019, down from ¥83,453,466.69 in Q1 2018, reflecting a decline of 21.0%[38] Assets and Liabilities - Total assets increased by 2.58% to CNY 1,470,731,583.30 compared to the end of the previous year[8] - The total current assets increased to 609,296,246.70 RMB, compared to 339,824,728.64 RMB at the end of the previous year[24] - Total liabilities decreased to CNY 390,426,687.26 from CNY 458,284,248.96, a decline of approximately 14.8%[29] - The company’s total liabilities decreased, with accounts payable and notes payable reducing due to timely payments made during the period[15] - Current liabilities decreased to CNY 384,630,321.26 from CNY 424,959,262.34, a reduction of about 9.5%[29] - The company’s cash and cash equivalents increased to 456,586,072.54 RMB from 220,562,894.99 RMB at the end of the previous year[24] - The company holds long-term equity investments valued at CNY 776,324,188.21[48] Investments - Investment cash flow increased significantly by 3745.34% to 309,918,435.77 RMB, mainly due to the sale of 49.95 million shares of Industrial Securities, resulting in a cash inflow increase of 295 million RMB compared to the previous year[19] - The company's investment income rose by 195.29% to 96,092,341.22 RMB, attributed to the reduction of shares in Industrial Securities[17] - The company reported investment income of 96,092,341.22, significantly higher than 32,541,782.43 from the previous year, an increase of approximately 194%[32] Shareholder Information - The number of shareholders reached 44,874 at the end of the reporting period[10] - The company’s equity attributable to shareholders rose to CNY 1,360,457,216.40 from CNY 1,258,417,078.10, an increase of about 8.1%[29] - The total owner's equity increased to CNY 1,095,249,185.18 from CNY 983,072,533.85, reflecting a growth of approximately 11.4%[26] Other Financial Metrics - The company completed the acquisition of 100% equity in Shanghai Renxing Health Management Co., Ltd., which is now a wholly-owned subsidiary[20] - The company reported a significant increase in credit impairment losses, amounting to 1,915,863.44 RMB, as it adopted the expected loss method for bad debt provisioning[17] - The company received government subsidies amounting to CNY 173,325.76 during the reporting period[9] - Other comprehensive income after tax was -79,546,128.03, compared to -60,432,424.97 in the previous year, indicating a decline in comprehensive income[33]

Financial Performance - In 2018, the company's operating revenue was CNY 249,037,021.14, a decrease of 7.75% compared to CNY 269,949,173.34 in 2017[21] - The net profit attributable to shareholders was CNY -506,039,123.53, representing a decline of 415.42% from CNY 160,431,480.09 in the previous year[21] - The basic earnings per share for 2018 was -0.649 yuan, a decrease of 415.05% compared to 0.206 yuan in 2017[22] - The total revenue for 2018 was 260 million RMB, a decrease of 7.8% year-on-year[45] - The operating income for the main business was 249 million RMB, down 7.75% from 270 million RMB in the previous year[46] - The company reported a significant increase in non-recurring losses, with the net profit excluding non-recurring items at CNY -549,201,929.79 compared to CNY 20,697,908.23 in 2017[21] - The company reported a net profit of -30.65 million CNY from Shanghai Nord Biological Industry Co., with total assets of 196.36 million CNY[86] - Net profit for 2018 was a loss of CNY 525,529,255.46, compared to a profit of CNY 163,694,874.45 in the previous year[189] Assets and Liabilities - The total assets at the end of 2018 were CNY 1,433,752,750.98, down 36.58% from CNY 2,260,597,763.78 at the end of 2017[21] - The company's net assets attributable to shareholders decreased by 44.73% to CNY 903,233,601.57 from CNY 1,634,190,595.15 in 2017[21] - The company's total assets decreased from CNY 2,204,201,273.31 to CNY 1,716,701,327.06, a decline of approximately 22.1%[186] - Total liabilities decreased from CNY 526,113,059.28 to CNY 458,284,248.96, a reduction of about 12.9%[186] - The company's equity attributable to shareholders decreased from CNY 1,634,190,595.15 to CNY 903,233,601.57, reflecting a decline of approximately 44.7%[182] - The company's current assets totaled CNY 339,824,728.64, down from CNY 396,118,720.41, indicating a reduction of about 14.1%[181] - The non-current assets decreased from CNY 1,864,479,043.37 to CNY 1,093,928,022.34, representing a decline of approximately 41.3%[181] Cash Flow - The cash flow from operating activities was CNY 12,473,573.61, a significant improvement from CNY -11,410,763.77 in 2017[21] - The net cash flow from operating activities improved significantly from a negative ¥19.09 million in Q2 to a positive ¥26.64 million in Q4[25] - The cash flow from investing activities decreased by 91.27% to CNY 37,450,636.79, compared to CNY 428,749,994.92 in the previous period[60] - Cash inflow from investment activities was $127.94 million, a decrease of 72.1% from $457.78 million year-over-year[198] - Cash paid for purchasing goods and services was $62.56 million, slightly up from $60.12 million in the prior period[198] Research and Development - The research and development expenses were 15.67 million RMB, a slight decrease of 0.81% compared to the previous year[46] - R&D investment in key products amounted to RMB 1,257.42 million, focusing on probiotics to reduce antibiotic misuse risks[73] - The company has achieved significant technological advancements in the probiotics field, holding 8 authorized invention patents and successfully industrializing 21 proprietary probiotic strains[39] - The company has developed four new probiotic products and completed clinical tracking studies related to gut health[73] Market and Sales Strategy - The health supplement market in China is expected to grow significantly, supported by national policies and changing consumer behaviors[36] - The company has implemented a dual-channel sales strategy, combining offline retail and online sales through e-commerce platforms[35] - The company’s sales model includes both offline sales through subsidiaries and online sales through e-commerce platforms, enhancing market reach[77] Governance and Compliance - The company has established a special task force to manage loan risks in its financial subsidiaries[94] - The company emphasizes the importance of internal control and quality management to ensure stable and healthy development[92] - The company has implemented strict governance structures and compliance with relevant laws to protect shareholder rights and ensure timely information disclosure[113] - The board of directors consists of 11 members, including 4 independent directors, complying with legal requirements[157] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,677, down from 44,874 at the end of the previous month[121] - The controlling shareholder is Dazhong Transportation Group, which holds 555,889,859 shares, representing 18.83% of the total share capital[127] - The company has no significant changes in controlling shareholders during the reporting period[126] Future Outlook - The company plans to continue research on a new treatment model for type 2 diabetes based on gut microbiota reconstruction and develop new probiotics for beneficial sugar and lipid metabolism in the upcoming year[76] - In 2019, the company aims to enhance its profitability and sustainable development by exploring new economic growth points[90] - The company plans to strengthen its position in the health industry, focusing on pharmaceutical health products and services[89] Environmental and Social Responsibility - The company emphasizes environmental protection and sustainability, achieving 100% compliance in environmental performance and ensuring no environmental pollution incidents occurred during the reporting period[116] - The company actively participates in social welfare activities, such as the "Angli Health Campus Tour," which has been ongoing for over ten years, providing health services to teachers[115]

Financial Performance - Net profit attributable to shareholders decreased by 12.00% to CNY 82,923,861.85 year-on-year[7] - Operating revenue for the first nine months was CNY 193,877,431.51, a decrease of 1.72% compared to the same period last year[7] - The company reported a significant increase in net profit from recurring operations, up 192.46% to CNY 37,785,063.03[7] - Total revenue for Q3 2018 was CNY 49,808,837.60, a decrease of 17.8% compared to CNY 60,160,176.83 in Q3 2017[33] - Operating income for the first nine months of 2018 was CNY 193,877,431.51, down from CNY 197,277,293.42 in the same period last year, reflecting a decline of 1.9%[33] - Net profit for Q3 2018 reached CNY 18,916,771.10, down from CNY 35,956,328.99 in Q3 2017, indicating a decline of approximately 47.4%[35] - The company reported a basic earnings per share of CNY 0.024 for Q3 2018, compared to CNY 0.045 in Q3 2017, a decrease of 46.7%[36] - The company reported investment income of CNY 16,575,142.47 for Q3 2018, down from CNY 57,667,267.52 in Q3 2017, a decline of about 71.2%[34] - The total profit for Q3 2018 was CNY 16,297,970.70, compared to CNY 47,802,414.58 in Q3 2017, reflecting a decrease of approximately 65.9%[34] Asset and Liability Changes - Total assets decreased by 13.79% to CNY 1,948,889,199.21 compared to the end of the previous year[7] - Total liabilities decreased from CNY 514,077,204.42 to CNY 339,107,650.02, representing a decline of about 34.1%[28] - Current liabilities totaled CNY 306,620,543.23, down from CNY 423,882,452.63, indicating a decrease of approximately 27.7%[28] - Non-current liabilities decreased from CNY 90,194,751.79 to CNY 32,487,106.79, a significant reduction of about 64.0%[28] - The company's available-for-sale financial assets decreased significantly from ¥522,735,206.97 to ¥247,301,611.97, reflecting a reduction in investment holdings[26] Cash Flow Analysis - The net cash flow from operating activities was negative at CNY -14,168,719.21, an improvement from CNY -16,386,431.06 in the previous year[7] - The net cash flow from financing activities improved by 32.01%, from -¥191,843,031.45 to -¥130,432,869.59, due to increased cash received from borrowings[18] - Cash inflow from operating activities for the first nine months of 2018 was 226,454,673.48 CNY, slightly up from 224,912,339.14 CNY in the same period last year[39] - The net cash flow from investing activities for Q3 2018 was 52,783,131.09 CNY, down from 261,266,858.61 CNY in Q2 2018[41] - The company reported a cash outflow from financing activities of -130,432,869.59 CNY in Q3 2018, compared to -191,843,031.45 CNY in Q2 2018, indicating reduced financing costs[41] Shareholder Information - The total number of shareholders at the end of the reporting period was 40,206[10] - The top ten shareholders held a total of 18.36% of the shares, with the largest shareholder holding 143,184,187 shares[10] Investment and Development - The company plans to invest approximately ¥70 million in a new production facility in Shanghai, which is expected to commence operations by the end of the year[20] - The company completed a capital increase of ¥70 million for its wholly-owned subsidiary, Shanghai Jiao Tong University Angli Life Science Technology Development Co., Ltd.[20] Financial Expenses and Income - The company's financial expenses decreased significantly by 110.85%, from ¥24,688,016.07 to -¥2,678,818.32, primarily due to foreign exchange gains and reduced interest expenses[16] - Investment income fell by 30.47%, from ¥135,501,207.35 to ¥94,209,267.01, mainly due to a reduction in the sale of available-for-sale financial assets compared to the previous year[16] - The company's minority shareholder profit decreased by 35.79%, from ¥3,287,412.54 to ¥2,110,968.36, primarily due to reduced profits from subsidiaries[16] Changes in Current Assets - The company's cash and cash equivalents decreased from ¥252,666,512.56 at the beginning of the year to ¥162,131,733.23 at the end of the period[26] - The total current assets decreased from ¥396,118,720.41 to ¥286,331,417.73, indicating a reduction in liquidity[26] - Accounts receivable decreased from CNY 14,516,681.35 to CNY 7,386,921.38, reflecting a decrease of about 49.1%[31] - Inventory decreased from CNY 14,563,013.25 to CNY 11,474,682.65, a reduction of approximately 21.0%[31]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 145,645,882.47, representing a 4.45% increase compared to CNY 139,444,696.25 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2018 was CNY 64,381,470.28, which is a 9.00% increase from CNY 59,065,224.32 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 18,339,757.87, showing a significant increase of 55.12% from CNY 11,822,814.22 in the previous year[19]. - The basic earnings per share for the first half of 2018 was CNY 0.083, up 9.21% from CNY 0.076 in the same period last year[20]. - The diluted earnings per share also stood at CNY 0.083, reflecting the same 9.21% increase year-on-year[20]. - The weighted average return on equity increased to 4.04%, up by 0.44 percentage points from 3.60% in the previous year[20]. - The company achieved total operating revenue of CNY 150.09 million in the first half of 2018, an increase of 2.98% year-on-year[29]. - The net profit attributable to shareholders of the parent company reached CNY 64.38 million, reflecting a year-on-year increase of 9%[29]. - The company’s operating costs rose to CNY 64.82 million, marking a 10.77% increase compared to the previous year[32]. - The company reported a net cash flow from operating activities of -CNY 27,700,748.54, compared to -CNY 18,637,669.90 in the same period last year, indicating a worsening cash flow situation[19]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,996,897,037.63, a decrease of 11.67% compared to CNY 2,260,597,763.78 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 4.83% to CNY 1,555,234,812.10 from CNY 1,634,190,595.15 at the end of the previous year[19]. - Total current assets decreased from ¥396,118,720.41 to ¥327,091,933.82, a decline of approximately 17.4%[78]. - Total non-current assets decreased from ¥1,864,479,043.37 to ¥1,669,805,103.81, a reduction of approximately 10.5%[79]. - Total liabilities decreased from ¥514,077,204.42 to ¥340,596,572.49, a decline of about 33.7%[80]. - Total equity decreased from ¥1,746,520,559.36 to ¥1,656,300,465.14, a reduction of approximately 5.2%[80]. Cash Flow - The company reported a net cash flow from operating activities of -CNY 27.70 million, a decline of 48.63% year-on-year[32]. - Operating cash inflow for the current period was CNY 187,795,714.78, an increase of 7.8% from CNY 174,361,029.02 in the previous period[91]. - Cash inflow from investment activities totaled CNY 100,557,106.70, down 51.2% from CNY 206,250,692.56 in the previous period[92]. - Net cash flow from investment activities was CNY 55,777,336.08, a significant decrease from CNY 186,693,783.27 in the previous period[92]. - Cash inflow from financing activities was CNY 150,000,000.00, down 38.8% from CNY 245,000,000.00 in the previous period[92]. - The ending cash and cash equivalents balance was CNY 203,486,925.98, down from CNY 313,865,404.98 in the previous period[92]. Investments and Development - The company is actively developing new products in the health food sector, with some projects showing initial results[29]. - The company is in the process of constructing a new production facility, with equipment installation completed and awaiting government approval for production[29]. - The company invested approximately ¥57,020,000 in a new production facility in Shanghai, with total investment to date reaching ¥57,020,000[40]. - The company plans to invest approximately RMB 70 million to establish a new production facility in Songjiang District, Shanghai[45]. Shareholder and Equity Information - The total number of common shareholders at the end of the reporting period was 41,590[66]. - The top ten shareholders held a total of 18.36% of shares, with Dazhong Transportation Group holding 143,184,187 shares[68]. - The company reported no changes in its share capital structure during the reporting period[64]. - The company has completed a capital increase of RMB 70 million for its wholly-owned subsidiary, Shanghai Jiao Tong University Angli Life Science Development Co., Ltd.[46]. - The company distributed CNY 13,000,900.00 to shareholders during the period, reflecting a reduction in retained earnings[97]. Risk Management - The company faced risks related to product quality and marketing due to the rapid development of the internet economy, which may impact its market reputation[44]. - The company is addressing policy risks by studying and complying with new regulations in the health food industry, including the Food Safety Law and related guidelines[44]. - The company is implementing risk management measures to mitigate potential loan defaults from its microfinance and pawn businesses due to economic downturns[44]. - The company is actively monitoring the price volatility of its financial assets to manage investment risks[44]. Compliance and Governance - The company has implemented a comprehensive quality control system, achieving ISO9001 and ISO22000 certifications[26]. - There were no major lawsuits or arbitration matters during the reporting period[55]. - The company received a disciplinary notice for a former executive's violation of stock transfer regulations[55]. - The board of directors and supervisory board underwent significant changes, with multiple resignations and elections[72]. Accounting Policies - The company prepares financial statements based on the going concern assumption, adhering to the accounting standards issued by the Ministry of Finance and relevant regulations[108]. - The company's accounting period runs from January 1 to December 31 each year[112]. - The company consolidates financial statements based on control, including all subsidiaries in the consolidated financial reports[117]. - The company recognizes investment income from interest or dividends during the holding period of financial assets, with fair value changes accounted for in profit or loss or other comprehensive income[128].