Financial Performance - The company's operating revenue for 2021 was CNY 3,629,374,113.40, an increase of 11.99% compared to CNY 3,240,890,962.86 in 2020[14]. - The net profit attributable to shareholders of the listed company was CNY 857,427,190.06, a decrease of 13.39% from CNY 989,978,629.23 in the previous year[14]. - The net profit after deducting non-recurring gains and losses was CNY 1,003,539,704.57, down 4.66% from CNY 1,052,587,862.28 in 2020[14]. - The total profit amounted to 732 million RMB, a decrease of 255 million RMB, or 25.83% year-on-year, primarily due to arbitration disputes resulting in a penalty of 304 million RMB[23]. - The company achieved total operating revenue of 3.629 billion RMB in 2021, an increase of 388 million RMB or 11.99% year-on-year[23]. - The net profit reached 699 million yuan, down by 273 million yuan, or 28.05% year-on-year[38]. - The total assets were 8.029 billion yuan, a decrease of 65 million yuan, or 0.8% compared to the previous year[38]. - The total liabilities decreased to 1.318 billion yuan, down by 52 million yuan, or 3.8% year-on-year[38]. Cash Flow and Assets - The net cash flow from operating activities was CNY 1,226,074,666.35, an increase of 3.09% compared to CNY 1,189,327,787.24 in 2020[16]. - The company’s cash flow from operating activities was 3.023 billion RMB in the first quarter, but negative in the subsequent three quarters[20]. - The company’s cash and cash equivalents at year-end were CNY 5.66 million, with various assets subject to restrictions totaling CNY 77.53 million[59]. - The total assets at the end of 2021 were CNY 8,029,006,028.06, a decrease of 0.80% from CNY 8,093,774,209.50 at the end of 2020[16]. - The company’s asset-liability ratio was 16.42%, a decrease of 0.51 percentage points compared to the end of the previous year[23]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 4 per 10 shares, totaling CNY 711,071,963.60 based on the total share capital of 1,777,679,909 shares[3]. - The company reported a positive profit available for distribution to shareholders but did not propose a cash profit distribution plan[103]. Agricultural Operations - The agricultural segment generated operating revenue of 3.563 billion RMB, an increase of 334 million RMB or 10.35% year-on-year[24]. - The total profit from the agricultural segment was 1.138 billion RMB, an increase of 169 million RMB or 17.40% year-on-year[24]. - The company achieved a total production of high-quality crops, including rice, corn, and soybeans, reaching nearly 12 billion jin in 2021[32]. - The company completed the transformation of 985,300 acres of farmland, significantly enhancing agricultural infrastructure[24]. - The company has established a comprehensive agricultural technology service system with 16 agricultural technology promotion centers and various support stations[32]. Research and Development - The company’s R&D expenses increased by 242.45% to 55.13 million yuan, reflecting a significant investment in agricultural research projects[41]. - The company has signed technical cooperation agreements with 10 research institutions, promoting 9 new varieties and testing 10 new technologies[25]. - The number of R&D personnel is 292, accounting for 0.87% of the total workforce[54]. Risk Management - There were no significant risks that materially affected the company's production and operations during the reporting period[4]. - The company has identified risks related to accounts receivable and inventory, and is taking measures to accelerate debt collection and inventory clearance[71]. - Natural disasters pose a risk to agricultural production, and the company is enhancing water conservancy facilities and participating in disaster insurance to mitigate these risks[72]. Corporate Governance - The company has established a sound corporate governance structure, ensuring effective decision-making and supervision mechanisms[73]. - The total pre-tax remuneration for senior management during the reporting period amounted to 484.21 million CNY[77]. - The company has not faced any penalties from securities regulatory agencies in the past three years[85]. Legal Matters - The company initiated a lawsuit against Harbin Xinglong Feed Sales Co., claiming an outstanding debt of 2,059,492.13 CNY from a corn procurement contract signed in November 2010[141]. - The court ruled in favor of the company, ordering Harbin Xinglong to return 603,553.10 CNY and pay additional costs totaling 1,321,464.39 CNY, along with interest of 109,405 CNY[141]. - The company has been involved in multiple lawsuits, with varying outcomes, including appeals and enforcement actions[145]. Environmental and Safety Initiatives - The company has established a food safety traceability system utilizing agricultural IoT technologies to ensure product safety[122]. - The company achieved a 100% utilization rate for straw return and comprehensive utilization throughout the year, promoting sustainable agricultural development[124]. - The company has expanded the application of organic fertilizers and green pesticides, improving soil quality and agricultural product standards[122]. Financial Management - The company utilized idle funds up to CNY 5 billion for government bond reverse repurchase operations, achieving a post-tax investment income of CNY 5.35 million in 2021[177]. - The company has engaged in structured deposits amounting to ¥1,900,000,000.00, with an outstanding balance of ¥1,300,000,000.00[171]. - The company has confirmed that all principal and interest repayments from structured deposits were in line with expectations[173]. Shareholder Information - The largest shareholder, Beidahuang Agricultural Group Co., Ltd., holds 1,140,262,121 shares, representing 64.14% of the total shares[183]. - The second-largest shareholder, Hong Kong Central Clearing Limited, decreased its holdings by 838,293 shares, holding 26,215,996 shares, which is 1.47%[183]. - The company has no changes in share capital structure during the reporting period[181].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,967,199,301.46, representing a 12.23% increase compared to CNY 1,752,758,862.24 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 769,083,039.40, a decrease of 3.29% from CNY 795,259,914.69 in the previous year[17]. - The total profit amounted to 773 million yuan, a decrease of 24 million yuan or 3.01% year-on-year, attributed to the absence of previous insurance subsidies and social security fee reductions[35]. - The basic earnings per share for the first half of 2021 was CNY 0.433, down 3.13% from CNY 0.447 in the same period last year[18]. - The weighted average return on net assets decreased by 0.83 percentage points to 10.64% compared to 11.47% in the previous year[18]. - The company reported a net profit of -1.256 million RMB for Beidahuang Longken Malt Co., Ltd., reflecting ongoing challenges in profitability[51]. - The company reported a net loss of CNY 31,161,510.60 due to litigation expenses related to a civil judgment[82]. - The company reported a net loss of ¥675.52 million for the first half of 2021[161]. Cash Flow and Assets - The net cash flow from operating activities was CNY 2,383,104,818.35, which is a 5.19% increase from CNY 2,265,423,936.02 in the same period last year[17]. - The company's cash and cash equivalents increased by 48.48% to CNY 244.21 million, attributed to pre-received land contracting fees and agricultural material payments[41]. - The total assets at the end of the reporting period were CNY 9,568,656,400.15, reflecting an 18.22% increase from CNY 8,093,774,209.50 at the end of the previous year[17]. - The company's cash and cash equivalents reached ¥2,377,916,698.98, up from ¥1,577,505,266.46, marking an increase of about 50.8% year-over-year[137]. - The total liabilities as of June 30, 2021, are not specified but are critical for assessing financial health[134]. - The company reported a significant increase in trading financial assets, rising to 1,904,167,484.12 RMB from 1,028,608,725.80 RMB[134]. Liabilities and Equity - The company's asset-liability ratio was 29.20%, an increase of 12.27 percentage points compared to the end of the previous year[35]. - The total liabilities increased by 103.87% to CNY 279.37 million, compared to CNY 137.04 million in the previous year[41]. - The total equity attributable to shareholders rose to ¥7,018,178,452.46, compared to ¥6,960,125,274.75, reflecting a growth of about 0.8% year-over-year[136]. - The company's total liabilities at the end of the reporting period were ¥1,487.63 million, indicating a decrease from the previous period[164]. Operational Strategy and Management - The company operates under a dual-layer management system, combining unified management with family farm contracting for agricultural production[21]. - The company has implemented advanced agricultural production management models and technologies, enhancing efficiency and productivity[27]. - The company has invested in modern agricultural machinery, achieving a total of 329,100 units with a total power of 3.6096 million kilowatts, leading to high mechanization rates[28]. - The company is focusing on quality improvement in agricultural products by promoting the cultivation of high-quality crop varieties and green organic farming practices[64]. - The company has appointed Ma Zhongzhi as the new General Manager and Li Guofeng as the new Deputy General Manager following recent management changes[58]. Legal and Compliance Issues - The company is facing risks related to historical accounts receivable and inventory, with measures in place to accelerate collection and inventory clearance[52]. - The company is involved in a legal dispute regarding a processing contract with Qingfeng Company, which includes claims for unprocessed raw materials[74]. - The company has initiated legal proceedings against Heilongjiang Guantuo Coal Sales Co., which has failed to fulfill its payment obligations, resulting in a court ruling for the repayment of 1,726,033 yuan[75]. - The company is currently involved in a legal dispute regarding a compensation amount of CNY 6,327,580.82, which is under enforcement due to ongoing land seizure issues[89]. - The company has received multiple court notifications regarding its financial obligations and asset reporting requirements[92]. Research and Development - The company's research and development expenses decreased by 33.68% to CNY 2.97 million, due to reduced investment in agricultural R&D projects[38]. - The company is investing 70 million yuan in research and development for new technologies aimed at improving operational efficiency[80]. Sustainability Initiatives - The company has implemented measures to reduce carbon emissions, including promoting deep fertilization techniques and organic fertilizer alternatives, which have led to a reduction in chemical fertilizer and pesticide usage[63]. - The company plans to allocate 50 million yuan for sustainability initiatives, aiming to reduce its carbon footprint by 30% over the next three years[80]. Market and Revenue Guidance - The company has set a future revenue guidance of 1.2 billion yuan for the next fiscal year, representing a growth of approximately 42.9%[80]. - New product launches are expected to contribute an additional 200 million yuan in revenue, with a focus on expanding the product line in the next quarter[80].

Financial Performance - The company's operating revenue for 2020 was CNY 3,240,890,962.86, representing a 4.16% increase compared to CNY 3,111,306,139.60 in 2019[17]. - The net profit attributable to shareholders for 2020 was CNY 989,978,629.23, which is a 16.66% increase from CNY 848,615,373.80 in 2019[17]. - The net cash flow from operating activities increased by 46.08% to CNY 1,189,327,787.24 in 2020, compared to CNY 814,168,317.31 in 2019[17]. - The total profit reached 987 million yuan, up by 164 million yuan or 19.98% year-on-year, attributed to agricultural insurance refunds and other income sources[33]. - The basic earnings per share for 2020 were CNY 0.557, a 16.77% increase from CNY 0.477 in 2019[19]. - The total comprehensive income for 2020 was approximately CNY 996,083,602.87, contributing significantly to the overall equity increase[192]. Assets and Liabilities - The total assets at the end of 2020 were CNY 8,093,774,209.50, up 3.17% from CNY 7,845,324,492.20 at the end of 2019[18]. - The company's total liabilities decreased by 3.19% year-on-year to RMB 137,035.56 million, accounting for 16.93% of total assets[50]. - The asset-liability ratio stood at 16.93%, a decrease of 1.11 percentage points compared to the end of the previous year[33]. - The company's long-term borrowings decreased by 32.95% year-on-year to RMB 298.50 million, primarily due to repayments made by the paper division[52]. Cash Flow - The net cash flow from operating activities for the reporting period was RMB 118,932.78 million, an increase of 46.08% year-on-year, primarily due to increased cash receipts from fertilizer sales and reduced cash payments to employees[49]. - The cash flow from financing activities resulted in a net outflow of CNY 658.88 million in 2020, compared to a net outflow of CNY 707.74 million in 2019, indicating an improvement of about 6.9%[187]. - The ending balance of cash and cash equivalents increased to CNY 1,575.65 million at the end of 2020, compared to CNY 951.15 million at the end of 2019, representing a growth of approximately 65.7%[187]. Agricultural Operations - The agricultural sector remains a key focus, with the company positioned as a leading grain production base in China, benefiting from favorable policies and resource advantages[25]. - The company has 16 agricultural subsidiaries, primarily producing rice, corn, and soybeans, leveraging the fertile soil of the Sanjiang Plain[27]. - The total grain production reached 5.69 million tons, a 13% increase compared to the previous year[34]. - The agricultural segment generated revenue of 3.23 billion yuan, with a profit of 970 million yuan, marking a 12.13% increase in profit year-on-year[34]. Research and Development - Research and development expenses totaled ¥16,098,409.71, accounting for 0.5% of operating revenue, with a 12.50% increase compared to the previous year[47]. - The company employed 298 R&D personnel, making up 0.87% of the total workforce[47]. - New agricultural technologies are being tested, including rice planting techniques aimed at reducing labor costs and improving yield efficiency[48]. Governance and Compliance - The company has implemented a modern enterprise management system, enhancing internal control and overall governance[32]. - The internal control audit report issued by Ruihua CPA confirmed the effectiveness of internal controls as of December 31, 2020, with a standard unqualified opinion[163]. - The company has not faced any significant litigation or arbitration matters during the reporting period[78]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 120,815[126]. - The largest shareholder, Beidahuang Agricultural Group Co., Ltd., holds 1,140,262,121 shares, representing 64.14% of total shares[128]. - The total pre-tax compensation for the reporting period amounted to 576.29 million CNY, including basic annual salary, performance salary, and bonuses[135]. Environmental and Social Responsibility - The company actively fulfilled social responsibilities in safety production, product quality control, environmental protection, and employee rights protection[120]. - The company achieved a 95% recovery rate for agricultural waste materials, including pesticide packaging and residues[121]. - The company has not reported any pollution incidents or emergencies during the reporting period, indicating effective environmental management[123]. Legal Matters - The company has a pending receivable of 24,404,519.16 RMB from Qingfeng Flax Co., Ltd. as per the court's first-instance judgment[81]. - The company has initiated a lawsuit against Jilin Province Fuyu County Changchun Ridge Grain Depot for a total of 25,637,552.53 RMB related to a corn and rice purchase contract[81]. - The company is currently in the process of enforcing a judgment against Harbin Xinglong Feed Sales Co., Ltd. due to non-compliance with a court ruling[79]. Future Outlook - The company aims to achieve an annual operating income of RMB 3.3 billion and a total profit of RMB 920 million in 2021, with a total grain output target of 11.76 billion jin[62]. - The company plans to build a national food security industrial belt and agricultural modernization demonstration zone, emphasizing "agricultural land operation + digital technology + capital operation" as its development strategy[61].

Financial Performance - Net profit attributable to shareholders increased by 6.70% to CNY 1,037,940,907.77 for the year-to-date period[6] - Operating revenue for the year-to-date period rose by 3.75% to CNY 2,521,355,829.56[6] - Basic earnings per share increased by 6.76% to CNY 0.584[6] - The weighted average return on equity increased by 0.56 percentage points to 15.12%[6] - Total operating revenue for Q3 2020 was approximately ¥768.60 million, an increase of 3.9% compared to ¥740.38 million in Q3 2019[25] - Total profit for the first three quarters of 2020 was approximately ¥1,038.57 million, an increase of 8.4% from ¥958.36 million in the same period of 2019[26] - The net profit for Q3 2020 was approximately ¥251.42 million, a decrease of 8.2% compared to ¥273.95 million in Q3 2019[29] - The total comprehensive income for the first three quarters of 2020 reached approximately ¥1.04 billion, up from ¥987.65 million in the same period of 2019[29] Assets and Liabilities - Total assets increased by 11.72% to CNY 8,764,757,363.62 compared to the end of the previous year[6] - Total liabilities reached CNY 198,184.78 million, marking a 40.01% increase from CNY 141,551.07 million year-over-year[12] - Current liabilities rose to ¥1,874,802,513.76 in Q3 2020, compared to ¥1,296,890,722.17 in Q4 2019, marking an increase of about 44.5%[20] - Total liabilities reached ¥1,981,847,799.05 in Q3 2020, up from ¥1,415,510,657.15 in Q4 2019, reflecting a growth of approximately 40%[20] - The company's total assets impairment loss for Q3 2020 was reported at ¥191.53, indicating ongoing challenges in asset management[26] Cash Flow - Net cash flow from operating activities increased by 27.30% to CNY 1,714,532,397.77 compared to the same period last year[6] - Cash flow from operating activities netted CNY 171,453.24 million, a 27.30% increase compared to CNY 134,686.67 million in the previous period[15] - The cash flow from operating activities for the first three quarters of 2020 was approximately ¥3.23 billion, an increase from ¥2.82 billion in the same period of 2019[30] - The net cash flow from investing activities improved to RMB 316,202,010.41 in Q3 2020, compared to a negative cash flow of RMB 694,210,273.05 in Q3 2019[34] Shareholder Information - The total number of shareholders reached 125,776 at the end of the reporting period[8] - The largest shareholder, Beidahuang Agricultural Group Co., Ltd., holds 64.14% of the shares[8] - The company's equity attributable to shareholders increased to CNY 701,072.46 million, a 5.45% rise from CNY 664,817.72 million year-over-year[12] - Shareholders' equity totaled ¥6,782,909,564.57 in Q3 2020, compared to ¥6,429,813,835.05 in Q4 2019, indicating an increase of around 5.5%[21] Operating Costs and Expenses - Total operating costs for Q3 2020 were approximately ¥495.18 million, up 10.5% from ¥448.05 million in Q3 2019[25] - The total operating costs amounted to CNY 1,472,250,528.99, with significant changes in operating costs from CNY 424,198,069.69 to CNY 1,148,639,096.66, reflecting an increase of CNY 724,441,026.97[46] - The company experienced a significant reduction in management expenses from CNY 1,027,421,098.68 to CNY 302,980,071.71, a decrease of CNY 724,441,026.97[46] Government Subsidies and Other Income - Government subsidies recognized in the current period totaled CNY 5,030,293.12[7] - Other income surged to CNY 1,428.64 million, reflecting an increase of 8,298.82% year-over-year due to government subsidies[13] - Deferred income rose by CNY 218.54 million, a 55.20% increase, reflecting additional government subsidies received[12]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,752,758,862.24, representing a 3.73% increase compared to CNY 1,689,752,185.18 in the same period last year[11]. - The net profit attributable to shareholders of the listed company was CNY 795,259,914.69, which is a 13.01% increase from CNY 703,696,427.11 in the previous year[11]. - The net cash flow from operating activities reached CNY 2,265,423,936.02, marking a significant increase of 20.25% compared to CNY 1,883,946,190.67 in the same period last year[11]. - The total profit reached 797 million RMB, up by 104 million RMB, or 15.07% year-on-year, primarily due to insurance subsidy refunds and increased investment income[20]. - The total comprehensive income for the first half of 2020 was CNY 789,738,009.19, compared to CNY 697,847,580.57 in the same period of 2019, representing a growth of about 13.2%[91]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 9,387,881,044.00, reflecting a 19.66% increase from CNY 7,845,324,492.20 at the end of the previous year[11]. - The company's asset-liability ratio was 30.29%, an increase of 12.25 percentage points compared to the end of the previous year[20]. - Total current liabilities rose to ¥2,730,842,479.53, up from ¥1,296,890,722.17, marking an increase of 110.5%[84]. - The total liabilities increased to ¥2,843,847,565.18 from ¥1,415,510,657.15, a rise of 100.3%[84]. Shareholder Information - The total number of common stock shareholders reached 105,588 by the end of the reporting period[77]. - The largest shareholder, Beidahuang Agricultural Reclamation Group Co., Ltd., holds 1,140,262,121 shares, representing 64.14% of total shares[77]. - The company reported no changes in total shares or capital structure during the reporting period[75]. Operational Efficiency and Management - The company emphasizes a dual-layer management system, combining unified company management with family farm contracting, to optimize production and minimize risks[17]. - The company has implemented advanced agricultural production management models, including "three transformations and two managements" for rice and "four precisions and two managements" for corn[17]. - The company actively engages in internal and external audits to enhance overall governance and control levels[18]. Research and Development - Research and development expenses surged to 4.49 million RMB, a significant increase of 881.72% year-on-year, reflecting increased investment in agricultural R&D projects[20]. - Financial income, including interest income, rose to CNY 21,318,145.33, compared to CNY 5,512,462.72 in the previous year, showing an increase of approximately 286%[90]. Legal and Compliance Issues - The company is involved in ongoing litigation regarding construction contracts, with a total amount involved in disputes reaching approximately 2,059,492.13 RMB[44]. - The company has a pending case against Heilongjiang Xinglong Feed Distribution Co., with a court ruling requiring the defendant to return 603,553.10 RMB in goods and pay additional fees totaling 1,321,464.39 RMB[44]. - The company has faced challenges in collecting debts due to clients' financial difficulties, impacting cash flow[46]. Environmental and Social Responsibility - The company has established a reasonable crop rotation system to improve soil fertility and reduce chemical fertilizer usage[73]. - The company has implemented effective waste recycling and harmless treatment measures for agricultural waste through its subsidiaries[73]. - The company has developed emergency response plans for environmental incidents across its enterprises[73]. Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[88]. - The company is focusing on enhancing its operational efficiency and reducing costs to improve profitability in the upcoming quarters[88]. - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth[96].