[I. Important Notice](index=3&type=section&id=I.%20Important%20Notice) [1.1 Statement on Report Authenticity](index=3&type=section&id=1.1%20Statement%20on%20Report%20Authenticity) The company's board, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report, disclaiming false statements or omissions, and assume legal responsibility; this report is unaudited - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content, free from false records, misleading statements, or major omissions, and assume individual and joint legal responsibility[7](index=7&type=chunk) - Company head Ma Xiaohong, accounting supervisor Gao Weiquan, and head of the accounting department Li Jie declare the financial statements in the quarterly report are true, accurate, and complete[7](index=7&type=chunk) - This first quarter report is unaudited[7](index=7&type=chunk) [II. Company Profile](index=3&type=section&id=II.%20Company%20Profile) [2.1 Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) The company achieved a net profit attributable to shareholders of **1.804 million yuan** in Q1 2020, reversing losses, with operating cash flow increasing by **536.81%**; total assets decreased by **16.17%**, and operating revenue by **24.97%**, with non-recurring gains and losses totaling **6.678 million yuan** Non-recurring Gains and Losses (Unit: Yuan, Currency: RMB) | 项目 | 本期金额 | 说明 | | :--- | :--- | :--- | | Government subsidies included in current profit and loss | 3,964,232.77 | Deferred income from Wushi Oil Company, Jingfang Company, Wenquan Mining Company, Keli Company, Zhengda Calcium Industry Company, etc., transferred to other income; headquarters ethnic trade interest subsidies, textile freight subsidies, Xinmin government subsidies | | Funds occupation fees collected from non-financial enterprises included in current profit and loss | 535,105.57 | Interest collected on loans to Puyao Glass | | Fair value change gains and losses from holding transactional financial assets, derivative financial assets, etc., and investment income from disposing of transactional financial assets, etc. | 41,464.16 | Xinsai Jingfang futures trading income | | Other non-operating income and expenses apart from the above items | 2,506,987.52 | Bohui Agriculture Company's inability to pay resulted in non-operating income of 2.84 million yuan, epidemic donation of 0.34 million yuan | | Impact of minority interests (after tax) | -63,231.67 | | | Income tax impact | -306,254.94 | | | **Total** | **6,678,303.41** | | 2020 First Quarter Key Financial Data Overview (Unit: Yuan, Currency: RMB) | 指标 | 本报告期末/年初至报告期末 | 上年度末/上年初至上年报告期末 | 变动率 (%) | | :--- | :--- | :--- | :--- | | Total assets | 1,356,664,657.99 | 1,618,388,714.24 | -16.17 | | Net assets attributable to listed company shareholders | 671,077,477.11 | 669,273,497.15 | 0.27 | | Net cash flow from operating activities | 113,278,128.68 | -25,933,171.28 | -536.81 | | Operating revenue | 218,140,575.13 | 290,733,707.49 | -24.97 | | Net profit attributable to listed company shareholders | 1,803,979.96 | -10,483,353.61 | (Turned loss into profit) | | Net profit attributable to listed company shareholders after deducting non-recurring gains and losses | -4,874,323.45 | -13,499,242.84 | (Loss narrowed) | | Weighted average return on net assets (%) | 0.0027 | -0.0164 | Increased by 0.0191 percentage points | | Basic earnings per share (yuan/share) | 0.0038 | 0.0056 | -32.14 | | Diluted earnings per share (yuan/share) | 0.0038 | 0.0056 | -32.14 | [2.2 Shareholder Holdings at Period-End](index=4&type=section&id=2.2%20Shareholder%20Holdings%20at%20Period-End) As of the end of the reporting period, the company's total share capital was **470,923,313 shares**; Xinjiang Aibihu Agricultural, Industrial and Commercial United Enterprise General Company is the largest shareholder with **42.17%**, a state-owned legal entity, while other top ten shareholders are individuals, each holding less than **1.28%**, with no disclosed related party relationships Top Ten Shareholders' Holdings (Unit: Shares) | 股东名称（全称） | 期末持股数量 | 期末持股比例 (%) | 股份状态 | 股东性质 | | :--- | :--- | :--- | :--- | :--- | | Xinjiang Aibihu Agricultural, Industrial and Commercial United Enterprise General Company | 198,602,959 | 42.17 | Unrestricted | State-owned legal entity | | Liu Min | 6,008,285 | 1.28 | Unknown | Unknown | | Wang Wei | 5,106,400 | 1.08 | Unknown | Unknown | | Yang Mei | 4,974,000 | 1.06 | Unknown | Unknown | | Hu Qingsong | 3,901,343 | 0.83 | Unknown | Unknown | | Ding Min | 3,642,000 | 0.77 | Unknown | Unknown | | Liu Yongsheng | 2,692,300 | 0.57 | Unknown | Unknown | | Qiu Yusang | 2,573,000 | 0.55 | Unknown | Unknown | | Shu Jinhai | 2,224,200 | 0.47 | Unknown | Unknown | | Zhang Yaoming | 2,220,000 | 0.47 | Unknown | Unknown | - Xinjiang Aibihu Agricultural, Industrial and Commercial United Enterprise General Company is affiliated with the State-owned Assets Supervision and Administration Commission of the Fifth Division of Xinjiang Production and Construction Corps[10](index=10&type=chunk) - Excluding the largest shareholder, it is unknown whether other shareholders have related party relationships or are acting in concert as defined by the "Measures for the Administration of the Takeover of Listed Companies"[10](index=10&type=chunk) [2.3 Preferred Shareholder Information at Period-End](index=5&type=section&id=2.3%20Preferred%20Shareholder%20Information%20at%20Period-End) As of the end of the reporting period, the company had no preferred shareholders - Not applicable[10](index=10&type=chunk) [III. Significant Events](index=5&type=section&id=III.%20Significant%20Events) [3.1 Analysis of Major Changes in Financial Statement Items and Indicators](index=5&type=section&id=3.1%20Analysis%20of%20Major%20Changes%20in%20Financial%20Statement%20Items%20and%20Indicators) The company's major financial statement items and indicators underwent significant changes in Q1 2020, with the balance sheet showing substantial decreases in monetary funds, inventories, short-term borrowings, and advances from customers, while notes receivable and prepayments increased; the income statement reflected a turnaround to net profit, driven by significant growth in other operating income, other income, investment income, and non-operating income, coupled with reductions in taxes and surcharges, administrative expenses, financial expenses, and credit impairment losses; the cash flow statement showed operating cash flow turning positive and a significant decrease in net cash flow from financing activities [1. Major Balance Sheet Changes](index=6&type=section&id=1.%20Major%20Balance%20Sheet%20Changes) The balance sheet shows significant decreases in monetary funds, inventories, short-term borrowings, and advances from customers, primarily due to bank loan repayments, smooth product sales, and timely cash collection; notes receivable and prepayments increased, reflecting new business expansion and increased advance payments for goods Major Balance Sheet Changes (Period-end vs. Period-beginning) | 项目 | 期末金额 (元) | 期初金额 (元) | 变动金额 (元) | 变动率 (%) | | :--- | :--- | :--- | :--- | :--- | | Monetary funds | 156,932,855.59 | 244,848,411.21 | -87,915,555.62 | -35.91 | | Notes receivable | 5,664,000.00 | 600,000.00 | 5,064,000.00 | 844.00 | | Prepayments | 59,345,768.85 | 35,124,935.49 | 24,220,833.36 | 68.96 | | Inventories | 168,999,355.12 | 363,150,508.15 | -194,151,153.03 | -53.46 | | Short-term borrowings | 372,500,000.00 | 561,100,000.00 | -188,600,000.00 | -33.61 | | Advances from customers | 44,828,247.83 | 79,037,615.33 | -34,209,367.50 | -43.28 | | Taxes payable | 1,940,039.04 | 5,534,915.74 | -3,594,876.70 | -64.95 | - Monetary funds decreased by **35.91%**, mainly due to the company repaying **70 million yuan** in bank loans during the period[14](index=14&type=chunk) - Inventories decreased by **53.46%**, primarily due to earlier-than-usual sales of lint, cotton yarn, and calcium oxide products, leading to reduced inventory[14](index=14&type=chunk) [2. Major Income Statement Changes](index=6&type=section&id=2.%20Major%20Income%20Statement%20Changes) The company's net profit turned from a loss of **11.316 million yuan** in the prior year to a profit of **1.392 million yuan**, mainly driven by significant increases in other operating income, other income, investment income, and non-operating income, alongside reductions in taxes and surcharges, administrative expenses, financial expenses, and credit impairment losses, with government subsidies and associate company earnings contributing significantly Major Income Statement Changes (Current period vs. Prior period) | 项目 | 本期金额 (元) | 上期金额 (元) | 变动金额 (元) | 变动率 (%) | | :--- | :--- | :--- | :--- | :--- | | Other operating income | 12,401,973.93 | 3,048,395.13 | 9,353,578.80 | 306.84 | | Other operating costs | 10,759,864.19 | 977,139.90 | 9,782,724.29 | 1001.16 | | Business taxes and surcharges | 705,848.42 | 1,109,011.78 | -403,163.36 | -36.35 | | Asset impairment losses | -7,965.55 | -332,555.09 | 324,589.54 | -97.60 | | Credit impairment losses | 2,496,238.06 | | 2,496,238.04 | 100.00 | | Other income | 2,664,724.44 | 184,739.70 | 2,479,984.74 | 1,342.42 | | Investment income | 4,392,315.17 | -511,813.85 | 4,904,129.02 | -958.19 | | Non-operating income | 2,843,427.01 | 710.15 | 2,842,716.86 | 400,298.09 | | Non-operating expenses | 341,214.00 | 25.00 | 341,189.00 | 1,364,756.00 | | Net profit | 1,392,277.02 | -11,316,048.21 | 12,708,325.23 | -112.30 | - Other operating income increased by **306.84%** year-on-year, mainly due to **10.69 million yuan** in raw cotton sales from Xinsai Textile Company and **1.70 million yuan** in rental income from Urumqi Xinsai Oil Company[17](index=17&type=chunk) - Net profit for the current period was **1.3923 million yuan**, an increase of **12.7083 million yuan** compared to **-11.3160 million yuan** in the prior year, primarily due to increased raw cotton sales, reduced expenses, and increased other income, investment income, and non-operating income[20](index=20&type=chunk) [3. Major Cash Flow Statement Changes](index=8&type=section&id=3.%20Major%20Cash%20Flow%20Statement%20Changes) Net cash flow from operating activities turned positive to **113.2781 million yuan** from a negative value in the prior year, mainly due to increased cash collection from product sales; net cash flow from financing activities significantly decreased by **291.16%**, primarily due to increased loan repayments after product sales cash collection Major Cash Flow Statement Changes (Current period vs. Prior period) | 项目 | 本期金额 (元) | 上期金额 (元) | 变动金额 (元) | 变动率 (%) | | :--- | :--- | :--- | :--- | :--- | | Net cash flow from operating activities | 113,278,128.68 | -25,933,171.28 | 139,211,299.96 | -536.81 | | Net cash flow from investing activities | -2,426,297.91 | -2,825,803.16 | 399,505.25 | -14.14 | | Net cash flow from financing activities | -198,767,386.39 | -50,815,371.52 | -147,952,014.87 | 291.16 | - Net cash flow from operating activities increased by **139.2113 million yuan** year-on-year, mainly due to increased cash received from product sales in the current period[21](index=21&type=chunk) - Net cash flow from financing activities decreased by **147.9520 million yuan** year-on-year, mainly due to increased repayment of borrowings from product sales cash collection in the current period[22](index=22&type=chunk) [3.2 Progress of Significant Events](index=8&type=section&id=3.2%20Progress%20of%20Significant%20Events) The company had no significant events requiring disclosure of progress during the reporting period - Not applicable[23](index=23&type=chunk) [3.3 Unfulfilled Commitments Beyond Due Date](index=8&type=section&id=3.3%20Unfulfilled%20Commitments%20Beyond%20Due%20Date) The company had no unfulfilled commitments beyond their due date during the reporting period - Not applicable[23](index=23&type=chunk) [3.4 Cumulative Net Profit Forecast Warning](index=8&type=section&id=3.4%20Cumulative%20Net%20Profit%20Forecast%20Warning) The company did not issue a warning regarding potential cumulative net profit loss or significant change from the beginning of the year to the end of the next reporting period - Not applicable[23](index=23&type=chunk) [IV. Appendix](index=9&type=section&id=IV.%20Appendix) [4.1 Financial Statements](index=9&type=section&id=4.1%20Financial%20Statements) This appendix includes the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2020, providing detailed financial data [Consolidated Balance Sheet](index=9&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2020, the company's consolidated total assets were **1.357 billion yuan**, a **16.17%** decrease from year-end 2019; consolidated total liabilities were **712 million yuan**, and total owner's equity was **645 million yuan** Consolidated Balance Sheet Key Data (Unit: Yuan) | 项目 | 2020年3月31日 | 2019年12月31日 | | :--- | :--- | :--- | | Total assets | 1,356,664,657.99 | 1,618,388,714.24 | | Total liabilities | 712,071,950.16 | 975,188,283.43 | | Total owner's equity (or shareholder's equity) | 644,592,707.83 | 643,200,430.81 | - Total current assets were **571.6467 million yuan**, and total non-current assets were **785.0179 million yuan**[26](index=26&type=chunk)[27](index=27&type=chunk) - Total current liabilities were **575.9116 million yuan**, and total non-current liabilities were **136.1604 million yuan**[27](index=27&type=chunk)[28](index=28&type=chunk) [Parent Company Balance Sheet](index=11&type=section&id=Parent%20Company%20Balance%20Sheet) As of March 31, 2020, the parent company's total assets were **1.425 billion yuan**, a slight decrease from year-end 2019; total liabilities were **536 million yuan**, and total owner's equity was **889 million yuan** Parent Company Balance Sheet Key Data (Unit: Yuan) | 项目 | 2020年3月31日 | 2019年12月31日 | | :--- | :--- | :--- | | Total assets | 1,425,244,820.94 | 1,460,990,444.69 | | Total liabilities | 536,235,915.61 | 568,419,032.25 | | Total owner's equity (or shareholder's equity) | 889,008,905.33 | 892,571,412.44 | - Parent company's total current assets were **597.1494 million yuan**, and total non-current assets were **828.0954 million yuan**[31](index=31&type=chunk) - Parent company's total current liabilities were **456.1875 million yuan**, and total non-current liabilities were **80.0484 million yuan**[32](index=32&type=chunk) [Consolidated Income Statement](index=13&type=section&id=Consolidated%20Income%20Statement) In Q1 2020, the company's consolidated net profit was **1.392 million yuan**, reversing a loss of **11.316 million yuan** in the prior year; total operating revenue decreased by **24.97%** year-on-year, but significant growth in other income, investment income, and non-operating income were the main drivers of profitability Consolidated Income Statement Key Data (Unit: Yuan) | 项目 | 2020年第一季度 | 2019年第一季度 | | :--- | :--- | :--- | | Total operating revenue | 218,140,575.13 | 290,733,707.49 | | Total operating costs | 228,795,823.24 | 301,385,921.84 | | Operating profit | -1,109,935.99 | -11,311,843.59 | | Total profit | 1,392,277.02 | -11,311,158.44 | | Net profit | 1,392,277.02 | -11,316,048.21 | | Net profit attributable to parent company shareholders | 1,803,979.96 | -10,483,353.61 | | Basic earnings per share (yuan/share) | 0.0038 | 0.0056 | - Other income of **2.6647 million yuan**, investment income of **4.3923 million yuan**, and non-operating income of **2.8434 million yuan** significantly contributed to net profit[33](index=33&type=chunk) [Parent Company Income Statement](index=16&type=section&id=Parent%20Company%20Income%20Statement) In Q1 2020, the parent company's net loss was **3.5625 million yuan**, a significant reduction from a loss of **9.9541 million yuan** in the prior year; the parent company had no operating revenue this period, but investment income of **4.3509 million yuan** and other income of **0.0681 million yuan** played a key role in narrowing the loss Parent Company Income Statement Key Data (Unit: Yuan) | 项目 | 2020年第一季度 | 2019年第一季度 | | :--- | :--- | :--- | | Operating revenue | 0 | 4,183,003.68 | | Operating profit | -3,362,507.11 | -9,954,128.32 | | Total profit | -3,562,507.11 | -9,954,117.17 | | Net profit | -3,562,507.11 | -9,954,117.17 | | Basic earnings per share (yuan/share) | -0.0076 | -0.0001 | - The parent company had no operating revenue this period, but investment income of **4.3509 million yuan** and reduced administrative and financial expenses helped narrow the loss[38](index=38&type=chunk) [Consolidated Cash Flow Statement](index=17&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1 2020, the company's consolidated net cash flow from operating activities was **113.2781 million yuan**, a significant improvement from **-25.9332 million yuan** in the prior year, mainly due to increased cash received from product sales; net cash flow from financing activities was **-198.7674 million yuan**, primarily due to increased repayment of borrowings Consolidated Cash Flow Statement Key Data (Unit: Yuan) | 项目 | 2020年第一季度 | 2019年第一季度 | | :--- | :--- | :--- | | Net cash flow from operating activities | 113,278,128.68 | -25,933,171.28 | | Net cash flow from investing activities | -2,426,297.91 | -2,825,803.16 | | Net cash flow from financing activities | -198,767,386.39 | -50,815,371.52 | | Net increase in cash and cash equivalents | -87,915,555.62 | -79,574,345.96 | | Cash and cash equivalents at period-end | 156,932,855.59 | 118,008,945.52 | - Cash received from sales of goods and services was **195.7360 million yuan**, an increase from the prior year[39](index=39&type=chunk) - Cash paid for debt repayment was **288.6000 million yuan**, an increase from the prior year[40](index=40&type=chunk) [Parent Company Cash Flow Statement](index=19&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) In Q1 2020, the parent company's net cash flow from operating activities was **55.5842 million yuan**, a significant improvement from **-63.4566 million yuan** in the prior year; net cash flow from financing activities was **-87.8218 million yuan**, mainly due to increased cash paid for debt repayment Parent Company Cash Flow Statement Key Data (Unit: Yuan) | 项目 | 2020年第一季度 | 2019年第一季度 | | :--- | :--- | :--- | | Net cash flow from operating activities | 55,584,197.01 | -63,456,576.00 | | Net cash flow from investing activities | 0 | 287,344.82 | | Net cash flow from financing activities | -87,821,808.43 | 5,059,791.71 | | Net increase in cash and cash equivalents | -32,237,611.42 | -58,109,439.47 | | Cash and cash equivalents at period-end | 10,116,956.57 | 65,221,021.92 | - Cash received relating to other operating activities was **73.1096 million yuan**, a significant increase from the prior year[41](index=41&type=chunk) - Cash paid for debt repayment was **180.1000 million yuan**, a decrease from the prior year[41](index=41&type=chunk) [4.2 Implementation of New Accounting Standards](index=20&type=section&id=4.2%20Implementation%20of%20New%20Accounting%20Standards) The company did not adopt new revenue or lease accounting standards for the first time in Q1 2020, thus no adjustments to the opening financial statements were required - Not applicable[44](index=44&type=chunk) [4.3 Explanation of Retrospective Adjustments for New Accounting Standards](index=20&type=section&id=4.3%20Explanation%20of%20Retrospective%20Adjustments%20for%20New%20Accounting%20Standards) The company did not adopt new revenue or lease accounting standards for the first time in Q1 2020, thus no retrospective adjustments to prior comparative data were required - Not applicable[44](index=44&type=chunk) [4.4 Audit Report](index=20&type=section&id=4.4%20Audit%20Report) This first quarter report is unaudited - Not applicable[44](index=44&type=chunk)

2019 年第三季度报告 公司代码：600540 公司简称：新赛股份 新疆赛里木现代农业股份有限公司 2019 年第三季度报告 1 / 25 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 12 | 2019 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人马晓宏、主管会计工作负责人高维泉 及会计机构负责人（会计主管人员）李洁保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 25 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度 末增减(%) 总资产 1,666,365,619.53 1,905,277,321.28 -12.54 归属于上市公司股东的 ...

Financial Performance - In the first half of 2019, Xinjiang Sayram Modern Agriculture Co., Ltd. reported a consolidated net profit of -11.018 million RMB, with a net profit attributable to the parent company of -12.5007 million RMB[6]. - The company's operating revenue for the first half of 2019 was 448.56 million RMB, representing a decrease of 27.32% compared to the same period last year[20]. - The net cash flow from operating activities was 1.55 million RMB, a significant decline of 99.20% year-on-year[20]. - The total assets decreased by 24.47% to 1.44 billion RMB compared to the end of the previous year[20]. - The net assets attributable to shareholders decreased by 1.94% to approximately 633 million RMB[20]. - Basic earnings per share for the first half of 2019 was -0.0265 RMB, compared to 0.0152 RMB in the same period last year[21]. - The weighted average return on net assets was -1.96%, a decrease of 3.09 percentage points compared to the previous year[22]. - The company did not declare any cash dividends or capital reserve transfers due to previous years' losses not being covered[6]. - The company reported a net profit of CNY 0.82 million from its logistics subsidiary, indicating a positive contribution despite overall challenges[60]. - The company reported a net loss of CNY 172,009,353.69 for the first half of 2019, compared to a loss of CNY 158,896,878.63 in the same period of 2018[93]. Operational Highlights - The company primarily engages in the production, processing, and sales of agricultural products, with a focus on cotton, edible oils, and cotton yarn, forming a strategic development pattern of "one main and two wings"[25]. - Xinjiang accounts for over 80% of China's total cotton production, with cotton income constituting approximately 35% of farmers' income in the region, highlighting the company's strong position in the cotton market[25]. - The edible oil market in China is approximately 26 million tons, with less than 20% in small packages, indicating a significant opportunity for market expansion despite recent declines in the company's oil sector[26]. - The textile industry remains a crucial sector for employment and income, with the company positioned to benefit from long-term growth despite current challenges such as rising costs and declining profits[26]. - The company completed the integration and investment of the 50,000 spindle project, with total asset input valued at approximately 143.2 million RMB, enhancing its operational capacity[28]. Financial Management and Strategy - The company aims to enhance production management and operational efficiency, focusing on maximizing economic benefits while ensuring quality and safety[32]. - The company is committed to reform and innovation, with a strategic focus on transforming its industry and optimizing its organizational structure[33]. - The company is focusing on improving financial management and increasing the efficiency of capital operations, with a financing target of 1.5 billion RMB for the year[38]. - The company plans to expand its processing scale and integrate processing resources in the cotton industry while controlling risks through strategic partnerships[35]. - The company aims to enhance project management and ensure quality and safety in construction to achieve immediate results from investments[35]. Risks and Challenges - The company has outlined potential risks and countermeasures in the annual report, emphasizing the importance of investor awareness regarding investment risks[8]. - The company faces macroeconomic fluctuation risks that could significantly impact operational performance if not managed properly[61]. - The company has a high proportion of fixed assets, which increases depreciation costs and poses risks of asset impairment in volatile market conditions[61]. Subsidiaries and Investments - The subsidiary Xinjiang New Sai Cotton Industry Co., Ltd. reported total assets of CNY 160.54 million and a net loss of CNY 2.40 million[59]. - The subsidiary Hutu Bi County Kangrui Cotton Processing Co., Ltd. had total assets of CNY 19.10 million and a net profit of CNY 0.61 million[59]. - The subsidiary Urumqi New Sai Oil and Fat Co., Ltd. reported total assets of CNY 83.95 million with a net loss of CNY 2.98 million[60]. - The company has invested in quartz and limestone mines, as well as wind power projects, aligning with national strategic plans for resource development in the western region[27]. Accounting and Financial Reporting - The company’s accounting policies and estimates are in accordance with the requirements of enterprise accounting standards[123]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[118]. - The company has not reported any new capital contributions or significant changes in ownership during the period[109]. - The company has implemented new accounting standards related to financial instruments, which only affect the presentation of financial statement items without significant impact on financial position, operating results, or cash flows[200]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 32,974[77]. - The top shareholder, Xinjiang Aibi Lake Agricultural and Industrial Corporation, holds 198,602,959 shares, representing 42.17% of total shares[79]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[66]. Cash Flow and Liquidity - Cash and cash equivalents decreased to CNY 16,050,910.77 from CNY 123,330,461.39, indicating liquidity challenges[91]. - The net cash flow from operating activities decreased significantly to CNY 1,554,211.03 compared to CNY 194,295,732.69 in the first half of 2018[101]. - The ending balance of cash and cash equivalents was CNY 103,694,912.19, down from CNY 165,871,785.20 at the end of the first half of 2018[102]. Research and Development - Research and development expenses increased to CNY 502,646.69 in the first half of 2019, up from CNY 162,973.44 in the same period of 2018, reflecting a growth of approximately 208.56%[98]. - The company has separately disclosed R&D expenses for the first time, aligning with the previous year's disclosure standards, which includes management expenses from subsidiaries[200].

证券代码：600540 证券简称：新赛股份 公告编号：2019-043 新疆赛里木现代农业股份有限公司 关于参加 2019 年新疆辖区上市公司 投资者集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或者重大遗漏。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营状况、 融资计划、股权激励、可持续发展等投资者所关心的问题，公司定于 2019 年 7 月 26 日下午 15:00-17:30 参加由新疆上市公司协会联合深圳市全景网 络有限公司组织开展的 2019 年新疆辖区上市公司投资者集体接待日活动。 现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台， 采取网络远程的方式举行，投资者可以登录"全景.路演天下"网站 （http://rs.p5w.net/）或关注微信公众号：全景财经（微信号：p5w2012）， 参与公司本次投资者集体接待日活动，活动时间为 2019 年 7 月 26 日（星期 五）15:00 至 17:30。 公司出席本次集体接待日的人员有：公司董事长马晓宏、董事会秘书陈 建江、财务总监高维泉。 欢 ...

Financial Performance - Net profit attributable to shareholders was CNY -10,483,353.61, a decrease of 496.02% year-on-year[8] - Operating revenue fell by 16.46% to CNY 290,733,707.49 compared to the same period last year[8] - Basic earnings per share were CNY -0.0223, down 498.21% from the previous year[8] - The company reported a net profit of -11,316,048.21, a decrease of 19,414,232.60 compared to the previous year's profit of 8,098,184.39, representing a decline of 239.74%[20] - The company experienced a significant drop in other income, which decreased by 783,873.95 to 184,739.70, a decline of 80.93% due to reduced government subsidies[18] - The company reported a significant increase in financial expenses, totaling CNY 10,232,033.97 in Q1 2019, compared to CNY 5,832,234.17 in Q1 2018, marking a rise of 75.5%[31] - The net profit for Q1 2019 was a loss of ¥9,954,117.17, compared to a loss of ¥23,932.19 in Q1 2018, indicating a significant increase in losses[35] - The total comprehensive income for Q1 2019 was a loss of ¥9,954,117.17, compared to a loss of ¥23,932.19 in Q1 2018[35] Cash Flow - Net cash flow from operating activities was CNY -25,933,171.28, a decline of 132.46% year-on-year[8] - The net cash flow from operating activities decreased by 105,818,191.56 to -25,933,171.28, a decline of 132.46% compared to the previous year[21] - Cash inflows from operating activities in Q1 2019 totaled ¥199,791,311.33, down from ¥516,433,089.21 in Q1 2018, representing a decline of 61.39%[38] - The total cash outflow from operating activities was CNY 82,810,839.99 in Q1 2019, compared to CNY 169,562,682.29 in Q1 2018, showing a reduction of 51.1%[40] - The cash inflow from sales of goods and services was CNY 3,957,553 in Q1 2019, a significant drop from CNY 76,343,749.14 in Q1 2018, reflecting a decrease of 94.8%[40] - The net cash flow from operating activities for Q1 2019 was -CNY 63,456,576, compared to -CNY 67,457,992 in Q1 2018, indicating a slight improvement[40] Assets and Liabilities - Total assets decreased by 17.36% to CNY 1,574,600,100.19 compared to the end of the previous year[8] - The company's total assets decreased from 1,905,277,321.28 to 1,574,600,100.19, indicating a reduction in asset value[26] - Total liabilities as of March 31, 2019, were CNY 557,270,896.31, compared to CNY 579,263,469.54 at the end of 2018, reflecting a decrease of 3.6%[30] - Shareholders' equity totaled CNY 1,145,047,681.53 as of March 31, 2019, down from CNY 1,155,001,798.70 at the end of 2018[31] - Cash and cash equivalents decreased to CNY 65,221,021.92 from CNY 123,330,461.39 at the end of 2018, representing a decline of 47.2%[29] Inventory and Prepayments - Inventory decreased by 34.57% to CNY 418,922,684.62 compared to the beginning of the year[13] - Prepayments decreased by 67.77% to CNY 109,250,110.67, primarily due to product sales[15] - The company's inventory decreased from 640,239,884.78 to 418,922,684.62, reflecting a reduction in stock levels[26] Financial Ratios - The weighted average return on net assets decreased by 2.06 percentage points to -1.64%[8] - The financial expenses for Q1 2019 were ¥2,196,552.91, compared to a financial income of -¥1,195,499.77 in Q1 2018, showing a significant shift in financial performance[34] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 1,597,539.70 during the reporting period[8] - Investment income improved by 1,011,675.39, moving from -1,523,489.24 to -511,813.85, a change of -66.41%[18] Future Plans - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[31]

Financial Performance - In 2018, the company achieved a consolidated net profit of CNY 31.67 million, with a net profit attributable to shareholders of CNY 20.36 million, representing an increase of 83.46% compared to the previous year[5]. - The company's operating revenue for 2018 was CNY 1.28 billion, reflecting a growth of 16.41% from CNY 1.10 billion in 2017[21]. - The basic earnings per share increased to CNY 0.0432, up 83.05% from CNY 0.0236 in 2017[22]. - The company reported a decrease in gross profit margin by 4.01 percentage points, despite an increase in operating revenue[24]. - The total assets of the company decreased by 15.59% to CNY 1.91 billion at the end of 2018, down from CNY 2.26 billion in 2017[21]. - The company did not declare any cash dividends for the year due to accumulated losses of CNY 15.89 million available for distribution[5]. - The company’s cash flow from operating activities was CNY 19.07 million, a significant improvement from a negative cash flow of CNY 166.65 million in 2017[21]. - The weighted average return on equity increased to 3.21%, up 1.42 percentage points from the previous year[23]. - The company’s asset-liability ratio increased by 0.23 percentage points to 58.8% after excluding the financials of the disposed subsidiary[24]. - Total assets decreased by 15.59% to RMB 190,527.73 million compared to the previous year[25]. - Total liabilities decreased by 15.33% to RMB 143,875.85 million compared to the previous year[25]. - Net profit increased by RMB 926.38 million, reaching RMB 2,036.40 million, a growth of 83.33% year-on-year[25]. - Gross profit margin decreased by 4.01 percentage points to 5.80% compared to the previous year[25]. - Current ratio improved by 22.30% to 0.95, indicating better short-term financial health[25]. - Accounts receivable turnover increased by 3.64 times to 7.98 times compared to the previous year[25]. - Earnings per share increased by RMB 0.0196 to RMB 0.0432, reflecting a growth of 83.05% year-on-year[25]. Strategic Focus and Market Position - The company maintains a strategic focus on cotton production, processing, and sales, leveraging its position in Xinjiang, which accounts for over 80% of national cotton production[32]. - The company aims to expand its market share in cotton trading within Xinjiang, targeting a significant increase in overall scale[32]. - The company is committed to a modern agricultural industrialization model, integrating agriculture, industry, science, and trade[32]. - The company achieved a revenue of 1.355 billion RMB in 2018, representing a year-on-year growth of 22.85%[42]. - The total production value for the year reached 227 million RMB, with a year-on-year increase of 20.70%[42]. - The company has restructured its operations by establishing a new entity, Xinjiang Saibohui Agricultural Development Co., Ltd., with a registered capital of 57 million RMB[35]. - The company transferred 15% equity of its subsidiary, Xinjiang Puyao New Building Materials Co., Ltd., for a price of 42.08349 million RMB[36]. - The company has closed 13 underperforming enterprises as part of its restructuring efforts, successfully reallocating 26 surplus employees[44]. - The company holds a significant position in the edible oil market, with major brands like Yihai, Fulinmen, and Jinlongyu dominating the market[33]. - The company is recognized as a national high-tech enterprise in agricultural industrialization, with advanced cotton processing technology[38]. - The company’s "XinSai" edible oil and cotton brands have received multiple quality certifications and are recognized as trusted food brands in China[39]. - The company is focusing on strategic development in the cotton industry while adapting to policy changes in the cotton textile sector[41]. Operational Changes and Challenges - The company reported a significant decline in the gross profit margin for cotton yarn, which fell to -11.74%, a decrease of 13.77 percentage points from the previous year[57]. - The agricultural sector's revenue increased by 14.76%, while the industrial sector's revenue grew by 29.45%, but the gross profit margin for the industrial sector decreased by 5.34 percentage points[61]. - The company’s revenue from the Xinjiang region was 793.19 million yuan, reflecting a 14.38% increase, while revenue from outside Xinjiang was 470.45 million yuan, a decrease of 0.75%[61]. - The company has faced challenges in the edible oil sector due to market conditions, impacting its production and processing status[90]. - The company's operational changes due to reforms in the Xinjiang Production and Construction Corps have affected its land leasing agreements and management structure[95]. Financial Management and Investments - The company secured bank loans totaling 792 million CNY during the year, which significantly supported the funding needs of its subsidiaries[45]. - Research and development expenses decreased by 54.14% to 397,399.05 CNY, primarily due to reduced expenses at the agricultural research institute[50]. - Sales expenses increased by 101.94% to 20,683,188.09 CNY, driven by higher sales volume and associated costs[51]. - The company received over 15 million CNY in government subsidies, which alleviated operational pressures[45]. - The company reported an increase in investment income of 28.84 million CNY, attributed to profitable operations of invested companies[52]. - The company successfully disposed of idle land, generating revenue of 4.7 million CNY from the sale of 62.65 acres[46]. - The company’s investment income primarily came from the sale of equity in Puyao Glass and asset disposal gains from controlling Shuanglu Mining[54]. - The company plans to focus on expanding its market presence and enhancing product development in response to the changing market dynamics[54]. Future Projections and Goals - The expected revenue for 2019 is 1.3 billion yuan, representing a 10% year-on-year growth[116]. - The total profit is projected to increase compared to the previous year, with a production value of 250 million yuan, an 8% increase[116]. - Fixed investment for 2019 is estimated at 60 million yuan, with 10 million yuan allocated for new projects[116]. - The company plans to acquire 200,000 tons of seed cotton and produce 76,000 tons of lint cotton, 4,800 tons of cotton yarn, and 130,000 tons of calcium oxide[116]. - The company aims to enhance production efficiency and reduce costs by analyzing the relationship between selling price, cost, output, and profit[117]. - The company plans to expand its upstream and downstream businesses in the cotton processing industry, focusing on intelligent textiles and garment production[119]. - The company anticipates a total financing target of 1.5 billion yuan for the year[121]. Governance and Compliance - The company has engaged Sigma Accounting Firm for auditing services, with a remuneration of 650,000 RMB for the current year[132]. - The total amount of guarantees provided by the company, including those to subsidiaries, is CNY 30,300,000, which accounts for 64.95% of the company's net assets[136]. - The company has established a new entity, "Xinjiang Saibo Hui Agricultural Development Co., Ltd." with a registered capital of CNY 57,000,000, to manage the assets and debts of the Huo Re branch[139]. - The company publicly listed 15% equity of its subsidiary, Xinjiang Puyao New Building Materials Co., Ltd., for a transfer price of CNY 42,083,490[140]. - The company has a total entrusted financial management amount of CNY 2,135,520, with an expected annual return rate[138]. - The company is still in negotiations to recover CNY 1,030,000 from a previous equity transfer agreement that was canceled[142]. - The company received a standard unqualified opinion from Sigma Accounting Firm regarding its internal control audit[180]. - The company’s management is responsible for ensuring the financial statements are prepared in accordance with accounting standards and reflect a true and fair view[192]. Employee and Management Structure - The total number of ordinary shareholders increased from 28,569 to 30,352 during the reporting period[150]. - The largest shareholder, Xinjiang Aibi Lake Agricultural and Industrial Union Company, holds 198,602,959 shares, representing 42.17% of the total shares[151]. - The actual controller of the company is the Xinjiang Production and Construction Corps Agricultural Fifth Division State-owned Assets Supervision and Administration Commission[155]. - The company does not have a natural person as an actual controller[156]. - The total pre-tax remuneration for the board members and senior management during the reporting period amounted to 138.71 million yuan[160]. - The chairman, Ma Xiaohong, and the general manager, Liu Jiang, both received a pre-tax remuneration of 18.28 million yuan[160]. - The company has no shareholding changes or restrictions on share reductions during the reporting period[159]. - The company has independent directors, including He Yonggang and Bian Xinjun, who have been serving since December 30, 2015[164]. - The company’s board includes members with diverse backgrounds, including finance, agriculture, and education[161]. - The number of employees in the parent company was 47, while the main subsidiaries employed 685, totaling 732 employees[168]. - The employee composition includes 468 production personnel, 32 sales personnel, 85 technical personnel, 50 financial personnel, and 97 administrative personnel[168]. - The educational background of employees shows 165 with bachelor's degrees, 230 with associate degrees, 168 with vocational diplomas, and 169 with high school or lower education[168]. - The company has implemented a salary policy based on fairness, competition, and incentives, combining basic and performance-based salaries[169]. - The company has established a comprehensive annual training plan to enhance employee skills and meet talent demands[171].

Financial Performance - Operating revenue for the first nine months decreased by 36.43% year-on-year, totaling CNY 781,016,268.26[7] - Net profit attributable to shareholders dropped by 74.5% year-on-year, amounting to CNY 1,995,344.10[7] - Basic earnings per share decreased by 74.70% to CNY 0.0042[8] - The net profit for the period was CNY 9.827 million, down 42.65% from CNY 17.136 million in the previous year[17] - The total profit for the first nine months of 2018 was CNY 10,073,014.66, compared to CNY 17,445,840.78 for the same period in 2017[39] - The company reported a total of CNY 5,975,374.19 in other income for the first nine months of 2018, down from CNY 13,665,953.16 in the same period last year[39] Cash Flow - Cash flow from operating activities increased significantly by 854.6%, reaching CNY 350,512,230.72[7] - The net cash flow from operating activities was CNY 35.051 million, a significant increase of 854.60% from CNY 3.672 million in the previous year[24] - Cash flow from operating activities for the first nine months of 2018 was ¥350,512,230.72, a substantial increase from ¥36,718,205.51 in the same period of 2017[46] - Operating cash inflow totaled $179,490,785.78, down from $268,055,923.16 in the previous year, representing a decrease of approximately 33.1%[50] - Net cash flow from operating activities was $9,520,964.25, compared to $11,952,315.52 in the same quarter last year, reflecting a decline of about 20.3%[50] Assets and Liabilities - Total assets decreased by 9.96% from the end of the previous year, amounting to CNY 2,032,387,919.99[7] - Current assets totaled 1,060.09 million RMB, a decrease of 15.5% from 1,254.87 million RMB at the beginning of the year[29] - Total liabilities decreased to 1,464.58 million RMB from 1,699.27 million RMB, reflecting a decrease of about 13.8%[31] - The company's total equity as of September 30, 2018, was 567.80 million RMB, an increase from 557.98 million RMB at the beginning of the year[31] - The company's total assets as of the end of Q3 2018 were CNY 1,697,777,668.74, down from CNY 1,767,094,355.85 at the end of Q3 2017[38] Expenses - Sales expenses rose to CNY 16.038 million, a 99.19% increase compared to CNY 8.051 million in the previous year[20] - The company's total operating costs for the first nine months of 2018 were CNY 785,086,637.54, compared to CNY 1,228,317,716.59 in the previous year[38] - Total operating costs for Q3 2018 were CNY 175,277,297.11, compared to CNY 526,880,795.80 in the same period last year[38] Shareholder Information - The total number of shareholders reached 33,887 by the end of the reporting period[11] Government Subsidies - The company reported a government subsidy income of CNY 11,352,452.19 for the first nine months[9] Investment Activities - The net cash flow from investment activities for the period was -29.56 million RMB, a decrease of 12.29 million RMB compared to the same period last year, primarily due to reduced cash received from investment recoveries[25] - The company reported a total cash outflow from investing activities of ¥31,313,775.98 in the first nine months of 2018, compared to ¥31,799,540.59 in the same period of 2017, indicating a decrease of 1.5%[47] Other Financial Metrics - The weighted average return on equity decreased by 0.946 percentage points to 0.32%[7] - The company's gross profit margin improved to 6.93%, an increase of 2.37 percentage points from 4.56% in the previous year[18] - The company achieved a gross profit margin of approximately -13.5% in Q3 2018, down from a positive margin in Q3 2017, highlighting challenges in cost management[42]

Financial Performance - In the first half of 2018, the company achieved a consolidated net profit of 12.86 million RMB, with a net profit attributable to the parent company of 7.16 million RMB, representing a 21.72% increase compared to the same period last year[6]. - The company's operating income for the first half of 2018 was 617.16 million RMB, a decrease of 11.80% compared to 699.69 million RMB in the same period last year[21]. - The basic earnings per share for the first half of 2018 was 0.0152 RMB, an increase of 21.6% compared to 0.0125 RMB in the same period last year[22]. - The company reported a weighted average return on equity of 1.14%, an increase of 0.1852 percentage points from the previous year[22]. - The company achieved operating revenue of 617.16 million yuan, a decrease of 11.80% compared to the same period last year[41]. - The main business revenue was 60,611.36 million yuan, down 3,994.69 million yuan or 6.18% year-on-year[47]. - The company achieved a net profit of 1,286.37 million yuan, an increase of 31.76 million yuan or 2.53% compared to the previous year[52]. - The net profit attributable to the parent company was 715.55 million yuan, up 127.66 million yuan or 21.71% year-on-year, driven by increased sales volume and gross margin of cotton products[52]. - The company reported a total revenue of CNY 617,159,831.38, a decrease of CNY 8,253.11 million compared to the previous year's revenue of CNY 699,690,924.54, representing a decline of approximately 11.8%[54]. - The gross profit margin for the main business increased, with the gross profit for cotton products rising compared to the previous period[54]. Cash Flow and Investments - The net cash flow from operating activities was 194.30 million RMB, a significant improvement from a negative cash flow of 63.31 million RMB in the previous year[21]. - The company reported a net cash outflow from investment activities of 171.32 million yuan, a decrease of 697.65% compared to the previous year[44]. - The company reported a significant increase in sales expenses, which rose to CNY 11,582,027.30, compared to CNY 5,074,725.84 in the same period last year[125]. - Cash inflow from financing activities was CNY 297,000,000.00, up 36.3% from CNY 218,000,000.00 in the previous period[132]. - The ending cash and cash equivalents balance was CNY 165,871,785.20, compared to CNY 449,826,821.24 in the previous period[132]. Assets and Liabilities - The total assets decreased by 17.5% to 1.86 billion RMB from 2.26 billion RMB at the end of the previous year[21]. - Total liabilities decreased by 24.01% to 1.291 billion yuan compared to the previous year[41]. - The company’s inventory decreased by 52.76% to CNY 29,373.77 million from CNY 62,178.23 million, primarily due to seasonal sales of cotton and oil products[65]. - The company’s prepayments increased by 67.54% to CNY 8,134.94 million, reflecting higher procurement activities[65]. - The company’s total liabilities decreased, contributing to a healthier balance sheet and improved financial ratios[138]. Operational Focus and Strategy - The company focuses on crop production, processing, and sales, with a strategic emphasis on cotton, edible oil, and cotton yarn, forming a development pattern of "one main and two wings"[26]. - Xinjiang accounts for approximately 35% of farmers' income from cotton, with a total cotton planting area nearing 30 million acres and a total production of 3.7 million tons, representing one-third of the national output[27]. - The edible oil market in China is 26 million tons, with less than 20% in small packages and over 80% in bulk, indicating a strong brand preference among consumers[28]. - The textile industry remains a significant sector for employment and income, despite facing challenges such as rising costs and declining profits[28]. - The company has invested in quartz and limestone mines and wind power projects, aligning with national strategic development goals for sustainable growth[29]. Risk Management - The company has outlined potential risks in its operations and strategies in the report, urging investors to be cautious[8]. - The company plans to enhance financial and risk management strategies to mitigate operational risks during economic downturns[40]. - The company faces macroeconomic fluctuation risks that could significantly impact its main business operations due to the volatility in cotton prices[73]. - The company is exposed to investment risks associated with new projects that may not achieve expected returns if market conditions do not favorably develop[73]. - High fixed asset ratios pose risks, as increased depreciation could significantly affect the company's operating performance if market conditions change dramatically[73]. Environmental Compliance - The company emitted 106.77 tons of sulfur dioxide, 346.58 tons of nitrogen oxides, and 16.37 tons of smoke dust in 2017, meeting all planned control indicators[82]. - The company invested 24.73 million RMB in air pollution control facilities, achieving a purification efficiency of 99% for smoke dust, 80% for SO2, and 70% for NOx[85]. - The company has implemented an automatic monitoring system for emissions, ensuring compliance with standards for sulfur dioxide, nitrogen oxides, and smoke dust[91]. - The company has established a self-monitoring plan for environmental compliance, which is regularly updated and reported[90]. - The company is actively managing its environmental monitoring and compliance, with a focus on maintaining operational standards and regulatory adherence[91]. Shareholder Information - The company has a total of 32,714 common stock shareholders as of the end of the reporting period[104]. - The largest shareholder, Xinjiang Aibi Lake Agricultural and Industrial Corporation, holds 198,602,959 shares, representing 42.17% of the total shares[106]. - There are currently no changes in the share capital structure during the reporting period[101]. - The company has not issued any new shares or made any changes to the shareholding structure of strategic investors[107]. - There are no reported changes in the controlling shareholder or actual controller during the reporting period[108]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the accounting standards, reflecting the company's financial position and operating results accurately[152]. - The company uses Renminbi as its accounting currency[154]. - The company includes all subsidiaries in its consolidated financial statements based on control[159]. - Minority interests are reported separately in the consolidated balance sheet and income statement[160]. - The company recognizes investment income from the difference between the consideration obtained from the disposal of equity and the net asset share of the subsidiary calculated from the purchase date[162].

Financial Performance - In 2017, the company achieved a consolidated net profit of CNY 24.33 million, with a net profit attributable to the parent company of CNY 11.10 million[5]. - The company's operating revenue for 2017 was CNY 1,102.60 million, representing a year-on-year increase of 4.98%[20]. - The net profit reached RMB 24.33 million, with the attributable net profit to the parent company at RMB 11.10 million, marking a significant turnaround from losses in the previous year[46]. - The basic earnings per share for 2017 were CNY 0.0236, a significant recovery from a loss of CNY 1.0061 in 2016[21]. - Net profit increased significantly to CNY 1,110.02 million, a turnaround from a loss of CNY 47,379.68 million in the previous year[23]. - The company reported a negative cash flow from operating activities of CNY 166.65 million in 2017[20]. - The company achieved a total gross profit contribution of CNY 100.38 million from increased product prices and expanded production scale[23]. Assets and Liabilities - The total assets at the end of 2017 were CNY 2,257.25 million, a decrease of 10.68% compared to the previous year[20]. - Total liabilities decreased by 14.76% to CNY 169,927.03 million, resulting in a debt-to-asset ratio reduction of 3.6 percentage points to 75.28%[23][24]. - The net assets attributable to shareholders at the end of 2017 were CNY 625.13 million, an increase of 1.81% from the previous year[20]. - The current ratio slightly decreased to 0.78, while the quick ratio dropped by 36.84% to 0.39[23]. Operational Efficiency - The company has implemented 16 key operational tasks to enhance performance, resulting in significant improvements in overall profitability compared to the previous year[36]. - The company has upgraded five ginning factories in the Manas and Hutubi regions to enhance market competitiveness and profitability[38]. - The company aims to actively convert advantageous resources, including investments in quartz and limestone mines, aligning with national strategic development goals[33]. - The company is focusing on risk management and developing new profit growth points through various operational strategies, including raw material processing and land cooperation[38]. Market and Industry Insights - The edible oil market in China is 26 million tons, with less than 20% in small packages and over 80% in bulk, facing strong competition from established brands[32]. - The textile industry remains a crucial sector for employment and income, despite facing challenges such as rising costs and declining profits, with long-term growth potential still present[32]. - Xinjiang cotton accounts for approximately 35% of local farmers' income, with a total planting area of nearly 30 million mu and a total output of 3.7 million tons, representing one-third of the national cotton production[31]. - The company operates under a modern agricultural industrialization model, focusing on cotton as the main business while also developing oil and textile sectors[90]. Risk Management - The company has outlined potential risks and countermeasures in the annual report, emphasizing the importance of investor awareness[7]. - The company faces significant competition in traditional industries, lacking core technology and market competitiveness, which affects profitability[90]. - The company faces risks from macroeconomic fluctuations, which could impact its cotton business and pricing strategies[125]. Corporate Governance - The company has maintained its commitment to not sell restricted shares during the lock-up period[129]. - The company has not engaged in any share buyback programs that would be counted as cash dividends[128]. - The company has not reported any significant changes in its auditor or audit firm during the reporting period[131]. - The company’s board includes independent directors, ensuring governance and oversight[166]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 3,556, with 51 in the parent company and 3,505 in subsidiaries[172]. - The company plans to enhance employee training in 2018, focusing on management, technical, and operational personnel[174]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 1.8037 million yuan[169]. Inventory and Cash Flow - The total inventory at the end of the reporting period amounted to ¥650,929,683.32, with a provision for inventory impairment of ¥29,147,374.36[101]. - The company’s cash and cash equivalents decreased from RMB 472,329,867.96 at the beginning of the year to RMB 149,561,942.55 by year-end[199]. - The net cash flow from operating activities was -166.65 million yuan, a decrease of 423.47% compared to the previous year, primarily due to increased production scale and seasonal inventory accumulation[76][77]. Future Plans and Goals - The company plans to achieve a total production value of 245 million yuan in 2018, with targets of 10,000 tons of edible oil, 4,800 tons of cotton yarn, 120,000 tons of calcium oxide, 2.7 million glass boxes, 63,000 tons of cotton, and 50,000 tons of quartz sand mining[120]. - The company aims to strengthen its core business in cotton and oil, while also transitioning towards advantageous resources such as minerals[116]. - The strategic development goal is to focus on "one main and two wings" to enhance competitiveness and reduce production costs[117].

2018 年第一季度报告 公司代码：600540 公司简称：新赛股份 新疆赛里木现代农业股份有限公司 2018 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 9 | 2018 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 计入当期损益的政府补助，但与公司 | 968,613.65 | 乌市油脂公司、精纺公司、温泉矿业公司、可利 | | 正常经营业务密切相关，符合国家政 | | 公司、普耀玻璃公司、正大钙业公司等单位递延 | | 策规定、按照一定标准定额或定量持 | | 收益转入其他收益。 | | 续享受的政府补助除外 | | | | 除上述各项之外的其他营业外收入和 | 1,446,954.07 | 清退违纪款款 1328653.51 元、霍热分 | 3 / 19 单位：元 币种：人民币 本报告期末 上年度 ...