根据《中华人民共和国公司法》《上海证券交易所股票上市规则》（以下简称 "《股票上市规则》"）等相关法律法规及光明乳业股份有限公司（以下简称"公 司"）《章程》、公司《独立董事工作制度》的相关规定，我们作为公司的独立董 事，现对公司第七届董事会第十三次会议相关审议事项发表以下独立意见： 一、《关于光明食品集团财务有限公司的风险持续评估报告》的独立意见 光明乳业股份有限公司 关于第七届董事会第十三次会议相关事项的独立意见 1、同意《关于光明食品集团财务有限公司的风险持续评估报告》。 2、光明食品集团财务有限公司（以下简称"光明财务公司"）具有合法有效 的《金融许可证》《企业法人营业执照》。 3、公司与光明财务公司之间的关联交易公平、公允，公司资金独立、安全， 不存在被关联人占用的风险。 4、公司与光明财务公司之间的关联交易未损害公司及股东，特别是中小股 东的合法权益。 二、《2023 年上半年度募集资金存放与使用情况的议案》的独立意见 1、同意《2023 年上半年度募集资金存放与使用情况的议案》。 2、2023 年上半年度，公司的募集资金管理情况、实际使用情况及信息披露 符合《上市公司监管指引第 2 号——上市公 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据上海证券交易所《上市公司行业信息披露指引第十四号——食品制造》 的相关规定，现将光明乳业股份有限公司 2023 年半年主要经营数据（未经审计） 公告如下： 一、主营业务按产品类别分类情况 证券代码：600597 证券简称：光明乳业 公告编号：临 2023-029 号 光明乳业股份有限公司 关于 2023 年半年度经营数据的公告 单位：元 币种：人民币 | 地区 | 2023 年 1-6 | 月 | 2022 年 | 1-6 | 月 | 同比变动（%） | | --- | --- | --- | --- | --- | --- | --- | | 上海 | 3,976,326,080 | | 3,908,981,141 | | | 1.72 | | 外地 | 6,317,871,728 | | 6,617,676,729 | | | -4.53 | | 境外 | 3,762,462,959 | | 3,738,499,099 | | | 0.64 | 三、主营业务按销售模式分类 ...

证券代码：600597 证券简称：光明乳业 公告编号：临 2023-028 号 一、募集资金基本情况 （一）实际募集资金金额、资金到位情况 经中国证券监督管理委员会《关于核准光明乳业股份有限公司非公开发行股 票的批复》（证监许可[2021]2844号）核准，光明乳业股份有限公司（以下简称 "公司"、"光明乳业"）非公开发行股票154,153,354股，每股面值人民币1元，每 股发行价格人民币12.52元，募集资金总额为人民币1,929,999,992.08元，扣除发 行费用后，实际募集资金净额为人民币1,919,472,488.95元。上述募集资金到位情 况已经普华永道中天会计师事务所（特殊普通合伙）进行了审验，并于2021年12 月10日出具了"普华永道中天验字(2021)第0920号"《验资报告》。公司依照规定 对募集资金采取了专户存储管理。 （二）募集资金使用情况及结余情况 截止2023年6月30日，公司募集资金实际使用情况为： | | | | | | | 明细 | 金额(元) | | --- | --- | --- | --- | --- | --- | --- | --- | | 2022 | 年 ...

| 单位：人民币元 | | --- | | 编 号 | 公司名称 | 补助依据 | 本期收到金额 | 本期计入其他 收益金额 | 本期冲减资产 或成本费用金 | | --- | --- | --- | --- | --- | --- | | | | | | | 额 | | 1 | 光明乳业股份有限公司 | 发酵乳产业化项目资金 | 1,706,200.00 | | 956,700.00 | | 2 | 光明乳业股份有限公司 | 地方扶持资金 | 800,000.00 | 800,000.00 | | | 3 | 光明乳业股份有限公司 | 驰名商标保护专项资金 | 600,000.00 | 600,000.00 | | | 4 | 光明乳业股份有限公司 | 鼠李糖乳杆菌研究项目资金 | 200,000.00 | | | | 5 | 光明乳业股份有限公司 | 糠醛测定技术研制项目资金 | 160,000.00 | | | | 6 | 上海光明领鲜物流有限公司 | 财政扶持资金 | 1,650,000.00 | 1,650,000.00 | | | 7 | 上海永安乳品有限公司 | 地方扶持资金 | 500,000 ...

Financial Performance - Total operating revenue for Q1 2023 was CNY 7,070,923,416, a decrease of 2.42% compared to CNY 7,246,234,781 in Q1 2022[23] - Net profit attributable to shareholders of the listed company was CNY 187,460,488, an increase of 13.05% year-on-year[32] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 174,733,261, up 25.20% from the previous year[32] - Operating profit for the quarter was CNY 287,773,190, compared to CNY 221,699,715 in the same period last year[23] - The company reported a comprehensive income total of CNY 150,632,804, compared to CNY 257,733,401 in the previous period, a decline of approximately 41.5%[43] - The company reported a decrease in sales revenue from 8,649,342,670 RMB in Q1 2022 to 8,272,980,397 RMB in Q1 2023[45] Cash Flow - The net cash flow from operating activities was -CNY 139,225,278, a decrease of 224.47% compared to the previous year[18] - In Q1 2023, the net cash flow from operating activities was -139,225,278 RMB, a decrease from 111,850,305 RMB in Q1 2022[45] - Total cash inflow from operating activities was 8,438,354,420 RMB, down from 8,791,576,988 RMB year-over-year[45] - Cash outflow from operating activities totaled 8,577,579,698 RMB, compared to 8,679,726,683 RMB in the previous year[45] - The net cash flow from investing activities was -86,373,408 RMB, an improvement from -420,711,597 RMB in Q1 2022[45] - Cash inflow from investing activities was 60,606,983 RMB, while cash outflow was 146,980,391 RMB[45] - Cash inflow from financing activities was 392,046,209 RMB, slightly down from 397,800,213 RMB in Q1 2022[45] - Cash outflow for debt repayment was 433,628,361 RMB, an increase from 410,013,070 RMB year-over-year[45] - The company received 58,327,053 RMB in cash for dividend distribution, compared to 27,323,112 RMB in the same quarter last year[45] - The company received tax refunds of 112,747,370 RMB, slightly up from 108,814,784 RMB in the previous year[45] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 23,784,162,375, down 2.73% from CNY 24,452,336,700 at the end of the previous year[34] - Total assets decreased from CNY 24,452,336,700 to CNY 23,784,162,375, a decline of approximately 2.73%[42] - Total liabilities decreased from CNY 13,904,084,269 to CNY 13,093,393,140, a reduction of approximately 5.83%[42] - Current assets totaled CNY 9,328,548,695, down from CNY 9,908,472,379, indicating a decrease of about 5.83%[42] - The company’s total non-current assets amounted to CNY 14,455,613,680, slightly down from CNY 14,543,864,321[42] - The company’s short-term borrowings decreased from CNY 1,202,759,784 to CNY 1,156,551,673, a reduction of about 3.84%[42] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 87,501[36] - The largest shareholder, Bright Food (Group) Co., Ltd., holds 51.63% of the shares, totaling 711,860,596 shares[36] Earnings and Returns - The basic earnings per share for the quarter were CNY 0.14, an increase of 16.67% year-on-year[32] - Basic earnings per share rose to CNY 0.14, compared to CNY 0.12 in the previous period, reflecting a 16.67% increase[43] - The weighted average return on net assets was 2.33%, an increase of 0.24 percentage points compared to the previous year[32] - Net profit attributable to shareholders increased to CNY 187,460,488, up from CNY 165,818,384, representing a growth of about 13.5%[43] Research and Development - Research and development expenses for the quarter were CNY 20,077,408, compared to CNY 16,760,085 in Q1 2022[23]

关于参加 2023 年上海辖区上市公司集体业绩说明会的公告 证券代码：600597 证券简称：光明乳业 公告编号：临 2023-018 号 光明乳业股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ●会议召开时间：2023 年 5 月 10 日（周三）下午 15:00 至 17:00 ●网络互动地址：登录"上证路演中心"网站（http://roadshow.sseinfo.com） 或关注微信公众号上证路演中心参与活动 ●会议召开方式：网络文字交流 ●预征集投资者提问：投资者可在业绩说明会召开前，通过公司邮箱 600597@brightdairy.com 进行提问，公司将在说明会上对投资者普遍关注的问 题进行回答。 一、活动类型 为便于广大投资者更深入全面地了解光明乳业股份有限公司（以下简称"公 司"）经营情况，公司定于 2023 年 5 月 10 日（周三）下午 15:00 至 17:00 参加 2023 年上海辖区上市公司集体业绩说明会活动，欢迎广大投资者积极参与。 二、召开的时间、地点 会议召 ...

证券代码：600597 证券简称：光明乳业 公告编号：临 2023-013 号 光明乳业股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2023 年 03 月 30 日(星期四) 下午 15:00-16:00 会 议 召 开 地 点 ： 上海证券 交 易 所 上 证 路 演 中 心 （ 网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2023 年 03 月 23 日(星期四) 至 03 月 29 日(星期三)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 600597@brightdairy.com 进行提问。公司将在说明会上对投资者普遍关注的问 题进行回答。 光明乳业股份有限公司（以下简称"公司"）已于 2023 年 3 月 21 日发布公 司2022年度报告。为便于广大投资者更全面深入地了解公司2022年度经营状况， 公司将于 20 ...

Financial Performance - The total revenue for 2022 was 28.215 billion CNY, achieving 88.79% of the target, while the net profit attributable to shareholders was 361 million CNY, reaching 53.88% of the plan[29]. - The company's revenue for 2022 was ¥28.21 billion, a decrease of 3.39% compared to ¥29.21 billion in 2021[40]. - Net profit attributable to shareholders was ¥360.69 million, down 39.11% from ¥592.34 million in the previous year[40]. - The net profit after deducting non-recurring gains and losses was ¥168.69 million, a decline of 61.08% from ¥433.37 million in 2021[40]. - The company achieved a net profit of ¥145,454,236 for the year 2022, with a proposed cash dividend of ¥0.08 per share, totaling ¥110,291,269 (including tax) to be distributed to shareholders[48]. - Basic earnings per share decreased by 45.83% to ¥0.26 in 2022, compared to ¥0.48 in 2021[72]. - The weighted average return on net assets dropped to 4.57% in 2022, down from 9.35% in 2021, a decrease of 4.78 percentage points[72]. - The company's total revenue from distributors was CNY 20.53 billion, a year-on-year decrease of 3.03%, while the gross margin increased by 2.87 percentage points to 13.84%[117]. - The revenue from the dairy segment was CNY 24.09 billion, down 5.82% year-on-year, with a gross margin of 20.43%, an increase of 0.80 percentage points[117]. - The livestock segment reported revenue of ¥2,640,585,610, an increase of 15.33% year-over-year, but with a gross margin of only 1.35%, down 1.57 percentage points[151]. Cash Flow and Investments - Cash received from operating activities decreased by 35.29% to 222,965,280 yuan compared to the previous year[5]. - Cash flow from the disposal of fixed assets decreased by 35.21% to 278,640,432 yuan year-on-year[5]. - The company experienced a 41.83% decrease in cash paid for the acquisition of fixed assets, totaling 1,386,014,807 yuan[5]. - The company reported a significant increase of 121.44% in cash received from borrowings, amounting to 2,347,822,176 yuan[5]. - The net cash flow from operating activities was ¥667.14 million, a significant drop of 67.59% compared to ¥2.06 billion in 2021[40]. - The company has significant investments in subsidiaries, including a loan of ¥150 million for acquisitions, with interest expenses of ¥6,056,875 incurred[157]. - The company has provided guarantees totaling ¥222,550,000, which represents 2.78% of its net assets[159]. Research and Development - The total R&D investment for the period was 84,661,532 yuan, representing 0.30% of operating revenue[3]. - The company plans to invest in research and development, focusing on high-value functional products and leveraging big data for precise innovation[33]. - The company has established a national key laboratory for dairy biotechnology, showcasing its leading R&D capabilities in the dairy industry[86]. - The company applied for 92 national patents in 2022, including 82 invention patents and 10 utility model patents[94]. - The company employed 115 R&D personnel, representing 0.9% of the total workforce, with 21 holding doctoral degrees[131]. Market and Competitive Strategy - The company aims for a total revenue of 32.05 billion CNY and a net profit of 680 million CNY for 2023, with a target return on equity greater than 8%[29]. - The company plans to enhance digital transformation and improve overall competitiveness through a comprehensive digital management system[29]. - The company is committed to strengthening its brand and marketing efforts to enhance the "Bright" brand's market presence and appeal[33]. - The company intends to expand its national layout and enhance resource integration to create a new competitive landscape in the industry[33]. - The company is focused on product innovation and upgrading to inject new vitality into the Bright brand[84]. - The company is accelerating the digital transformation of its entire industry chain to empower high-quality development[91]. Inventory and Supply Chain - The company noted an increase in inventory due to higher raw material and finished goods levels at the end of the reporting period[7]. - The company's inventory reached ¥4,196,700,084, representing a 34.75% increase compared to the previous period[141]. - The company is focusing on digital transformation across the entire supply chain to enhance operational efficiency and data quality[112]. - The company plans to enhance its core competitiveness by optimizing its supply chain and expanding its market presence through digital transformation[33]. Risks and Audit - The company has outlined potential risks including industry risks, livestock diseases, financial risks, food safety risks, production safety risks, and environmental risks[55]. - The company has received a standard unqualified audit opinion from PwC Zhongtian[50]. - The audit report highlights significant risks of material misstatement due to fraud, emphasizing the need for robust internal controls[197]. - The company must assess the appropriateness of the going concern assumption, with potential uncertainties affecting its ability to continue operations[198]. Subsidiaries and Market Presence - The company has included a new subsidiary, Chuzhou Guangming Ecological Smart Ranch Co., Ltd., in its consolidation scope this year[120]. - New Zealand New Light generated revenue of ¥6,920,597,830 and a net profit of ¥28,180,241, contributing significantly to the company's overall performance[148]. - The overseas segment saw revenue of ¥6,909,746,928, an increase of 4.68% year-over-year, with a gross margin of 9.74%, up 2.87 percentage points[151]. - The company has expanded its market presence through community group buying channels and online platforms[102]. Asset and Liability Management - The company's total assets increased by 4.27% to ¥24.45 billion at the end of 2022, up from ¥23.45 billion at the end of 2021[40]. - Total current liabilities surged to CNY 10,734,516,944, compared to CNY 8,689,140,992 in the previous year, representing an increase of about 23.54%[178]. - The company reported a total non-current asset value of CNY 14,543,864,321, up from CNY 14,272,109,228, which is an increase of about 1.90%[178]. - The total liabilities of the company increased significantly, reflecting a growing leverage position in the market[178].

Financial Performance - Revenue for Q3 2022 was CNY 6,974,593,636, a decrease of 10.5% compared to the same period last year[7] - Net profit attributable to shareholders was CNY 88,025,723, down 52.18% year-over-year[7] - Net profit excluding non-recurring gains and losses was CNY 40,195,749, a decline of 71.08% compared to the previous year[7] - Basic earnings per share for the quarter was CNY 0.06, a decrease of 60.00% year-over-year[7] - Total operating revenue for the first three quarters of 2022 was 21,385,131,429, a decrease of 3.2% compared to 22,056,891,118 in the same period of 2021[20] - Net profit attributable to shareholders of the parent company for Q3 2022 was 369,491,014, down from 445,081,675 in Q3 2021, representing a decline of 17.0%[23] - The total comprehensive income for Q3 2022 was -482,130,521, compared to -35,313,971 in Q3 2021, showing a significant decline[23] Assets and Liabilities - Total assets at the end of the quarter were CNY 22,883,573,306, a decrease of 2.42% from the end of the previous year[7] - Total assets as of September 30, 2022, were 22,883,573,306, a decrease from 23,450,401,026 at the end of 2021, reflecting a reduction of 2.4%[17] - Total liabilities increased to 13,243,400,625 as of September 30, 2022, compared to 13,098,498,836 at the end of 2021, marking an increase of 1.1%[17] - The company reported a total current liabilities of 9,425,533,638, an increase from 8,689,140,992, representing a rise of 8.5%[17] Cash Flow - Operating cash flow for the year-to-date period was CNY 416,163,471, down 54.94% compared to the previous year[7] - The net cash flow from operating activities for the first three quarters of 2022 was ¥416,163,471, a decrease of 55.0% compared to ¥923,625,526 in the same period of 2021[26] - Total cash inflow from operating activities was ¥25,131,667,790, down 1.4% from ¥25,494,689,382 in the previous year[26] - Cash outflow from investing activities was ¥916,329,175, a decrease of 27.7% compared to ¥1,267,576,704 in the same period of 2021[26] - The net cash flow from investing activities was -¥805,744,245, an improvement from -¥1,177,093,266 in the previous year[26] - Cash inflow from financing activities totaled ¥1,389,880,604, an increase of 33.8% from ¥1,043,872,378 in the same period of 2021[26] - The net cash flow from financing activities was -¥312,308,760, an improvement from -¥594,995,229 in the previous year[29] - The ending balance of cash and cash equivalents was ¥2,498,176,051, an increase from ¥2,109,527,788 at the end of the previous year[29] Shareholder Information - Shareholder equity attributable to the parent company was CNY 7,633,318,680, down 2.89% from the previous year[7] - The company had 90,838 common shareholders at the end of the reporting period[11] - The largest shareholder, Bright Food (Group) Co., Ltd., held 51.63% of the shares[11] Inventory and Expenses - Cash and cash equivalents decreased to 2,498,176,051 from 3,206,113,341, a decline of 22.0%[15] - Inventory increased to 3,237,979,322 from 3,114,510,306, reflecting a rise of 4.0%[15] - Research and development expenses for the first three quarters of 2022 were 58,638,895, down from 68,423,337 in the same period of 2021, a decrease of 14.0%[20] - Basic earnings per share for Q3 2022 were 0.27, compared to 0.36 in Q3 2021, indicating a decrease of 25.0%[23] - The cash inflow from sales of goods and services was ¥24,661,795,753, a decrease of 0.9% from ¥24,892,897,119 in the same period of 2021[26]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 14,410,537,793, representing a 1.03% increase compared to CNY 14,264,084,192 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 281,465,291, which is a 7.83% increase from CNY 261,019,201 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 241,630,801, reflecting a significant increase of 23.65% compared to CNY 195,419,989 in the previous year[20]. - The net cash flow from operating activities was CNY 372,344,564, a notable recovery from a negative cash flow of CNY -66,644,021 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 23,325,301,172, showing a slight decrease of 0.53% from CNY 23,450,401,026 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased to CNY 7,944,906,105, marking a 1.07% rise from CNY 7,860,659,338 at the end of the last year[20]. - Basic earnings per share decreased to CNY 0.20, down 4.76% from CNY 0.21 in the same period last year[20]. - The weighted average return on net assets was 3.58%, a decrease of 0.56 percentage points compared to 4.14% in the previous year[20]. - The company reported a significant increase in financial expenses, rising by 71.09% to CNY 72.59 million[46]. - The total comprehensive income attributable to the parent company decreased by 42.16% to ¥81,197,181, primarily due to a reduction in other comprehensive income after tax[49]. Operational Highlights - The company achieved a revenue of 29.2 billion yuan in 2021, ranking among the top in the dairy industry[30]. - In the first half of 2022, the dairy product output was 15.1 million tons, with a year-on-year growth of 1.0%[30]. - The average price of raw milk began to decline seasonally in February 2022, following an increase in supply from newly established large-scale farms[30]. - The company has 4 farms recognized as national benchmark farms and 10 farms certified under GAP standards[31]. - In the first half of 2022, the company applied for 13 national patents, including 11 invention patents[32]. - The company has developed a unique technology for long-term storage of yogurt, addressing cold chain challenges[32]. - The company operates a comprehensive cold chain management system, utilizing advanced technologies such as WMS and GPS[37]. - The company’s subsidiary in New Zealand focuses on the production and sale of industrial milk powder and infant formula, exporting globally[27]. - The company has seen a 50% increase in corn prices since 2020, impacting feed costs[30]. - The company is recognized as a key leading enterprise in agricultural industrialization and has received the Shanghai Mayor's Quality Award[30]. Investment and Expansion - The company plans to invest approximately CNY 2.493 billion in the construction of a dairy farm project in Chuzhou, Anhui, with a designed capacity of 47,500 dairy cows[41]. - The company launched new product lines, including blueberry and peach-flavored yogurt, and introduced a dual-protein bottle for balanced nutrition[41]. - The overseas business saw a revenue increase of 20.14%, reaching CNY 3.749 billion, with a net profit of CNY 128 million, marking a turnaround from losses[44]. - The company is advancing its digital transformation projects, including the launch of a collaborative office platform and enhancements to its group buying app[44]. Risk Management - The company has outlined various risks including industry risks, livestock disease risks, and food safety risks in its management discussion and analysis section[20]. - The company faces industry risks including intense competition and high operational costs, and plans to leverage existing resources to expand market presence and enhance cost management[66]. - The company has a structured approach to disease prevention in cattle, enhancing its capabilities to mitigate risks associated with livestock health[68]. Environmental and Social Responsibility - The company emphasizes environmental protection and has implemented measures to enhance waste management and resource utilization in compliance with regulatory standards[68]. - The company has established a comprehensive food safety management system to ensure product quality and safety, adhering to a "zero defect" quality philosophy[68]. - The company reported a continuous discharge of COD at 47.58 mg/L, well below the standard value of 500 mg/L, with a total discharge of 41.724 tons[79]. - Ammonia nitrogen (NH3-N) emissions were recorded at 7.46 mg/L, significantly lower than the standard of 45 mg/L, with a total discharge of 6.647 tons[79]. - The company has received government approval for environmental impact assessments for all construction projects[85]. - The company maintains an emergency response plan for environmental pollution incidents, updated annually to align with environmental department standards[86]. - The company has implemented a resource utilization strategy for solid and liquid waste from its farms, promoting sustainability[81]. - The company invested CNY 7.368 million in energy-saving technological upgrades and CNY 9.087 million in environmental protection during the reporting period[94]. - The company achieved photovoltaic power generation of 2.38 million kWh, equivalent to a reduction of 193.9 tons of standard coal consumption[94]. Shareholder and Governance - The total number of shares is 1,378,640,863, with 88.80% being unrestricted tradable shares[129]. - The number of restricted shares released during the reporting period is 74,409,824, with 79,743,530 restricted shares remaining[130]. - The proportion of state-owned shares is 6.47%, while other domestic shares account for 4.50%[129]. - The company has no new strategies or significant changes in shareholding structure reported for the period[133]. - The total number of shareholders with restricted shares is 18, with varying amounts of shares released[130]. - The largest shareholder, Guangming Food Group, holds 632,117,066 shares, representing a significant portion of the company's equity[146]. - The company is actively managing its shareholder structure, with several private equity investment plans in place[140]. Financial Position - The total assets of the company amounted to RMB 23,325,301,172, a decrease from RMB 23,450,401,026 at the beginning of the period[158]. - Current assets totaled RMB 8,774,720,155, down from RMB 9,178,291,798[158]. - The company's cash and cash equivalents decreased to RMB 2,546,700,227 from RMB 3,206,113,341[158]. - Accounts receivable increased to RMB 2,224,654,726 from RMB 1,914,279,778, reflecting a growth of approximately 16.2%[158]. - Total liabilities were RMB 13,032,752,533, slightly down from RMB 13,098,498,836[160]. - The company's equity attributable to shareholders rose to RMB 7,944,906,105 from RMB 7,860,659,338[160]. - The company reported a decrease in inventory to RMB 3,119,775,149 from RMB 3,114,510,306[158]. - Short-term borrowings decreased significantly to RMB 508,496,010 from RMB 712,580,089, a reduction of approximately 28.6%[160].