2018 年第一季度报告 公司代码：600962 公司简称：国投中鲁 国投中鲁果汁股份有限公司 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 | 未出席董事姓名 | 未出席董事职务 | 未出席原因的说明 | 被委托人姓名 | | --- | --- | --- | --- | | 章廷兵 | 董事 | 工作原因 | 李哲 | | 冷传祝 | 董事 | 工作原因 | 张继明 | 3 / 19 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 未出席董事情况 2018 年第一季度报告 1.3 公司负责人李俊喜、主管会计工作负责人全宇红及会计机构负责人（会计主管人员）张俊祯 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种 ...

Financial Performance - Net profit attributable to shareholders dropped by 92.52% to CNY 263,240.58 for the first nine months of the year[6] - Operating revenue for the first nine months decreased by 3.36% to CNY 634,716,667.46 compared to the same period last year[6] - Basic and diluted earnings per share decreased by 92.31% to CNY 0.001[7] - The net profit attributable to the parent company decreased by 93% to ¥263,240.58 due to a decline in sales volume and prices[13] - The company reported a net loss of CNY 10,141,517.99, slightly improved from a loss of CNY 10,404,758.57 at the beginning of the year[21] - The net loss for Q3 2017 was approximately ¥4.36 million, compared to a net loss of ¥8.85 million in Q3 2016, indicating an improvement of 50.7%[28] - The total profit for Q3 2017 was approximately -¥4.16 million, an improvement from -¥7.85 million in Q3 2016[28] - Operating profit for the first nine months of 2017 was approximately -¥4.16 million, significantly improved from -¥30.61 million in the same period of 2016[30] Cash Flow - Net cash flow from operating activities fell by 16.63% to CNY 302,974,227.56 year-on-year[6] - Cash flow from operating activities for the first nine months of 2017 was 302,974,227.56 RMB, down from 363,392,529.05 RMB year-on-year[33] - Total cash inflow from operating activities was 808,538,982.26 RMB, compared to 851,745,302.37 RMB in the previous year[33] - Cash outflow from operating activities totaled 505,564,754.70 RMB, an increase from 488,352,773.32 RMB year-on-year[33] - The net cash flow from investing activities was -36,439,863.09 RMB, worsening from -18,247,286.76 RMB in the same period last year[34] - Cash inflow from financing activities was 239,759,178.70 RMB, significantly lower than 516,405,446.97 RMB in the previous year[34] - Cash outflow from financing activities reached 478,799,333.00 RMB, down from 874,751,814.04 RMB year-on-year[34] - The ending cash and cash equivalents balance was 178,241,084.14 RMB, compared to 154,453,575.83 RMB at the end of the previous year[34] Assets and Liabilities - Total assets decreased by 12.24% to CNY 1,546,911,883.86 compared to the end of the previous year[6] - Total current assets decreased by 19.5% to ¥855,642,169.53 compared to the beginning of the year[19] - Total liabilities decreased from CNY 773,531,674.88 to CNY 561,287,029.34, a decline of about 27%[21] - Current liabilities decreased from CNY 759,345,943.91 to CNY 546,602,549.44, a reduction of approximately 28%[20] - Non-current liabilities totaled CNY 14,684,479.90, slightly increased from CNY 14,185,730.97[21] - Owner's equity decreased from CNY 989,076,380.39 to CNY 985,624,854.52, a marginal decline of approximately 0.15%[21] - Cash and cash equivalents decreased from CNY 140,917,771.51 to CNY 79,967,687.21, a drop of about 43%[23] Shareholder Information - The number of shareholders reached 16,800 at the end of the reporting period[9] - The largest shareholder, China National Investment Corporation, holds 44.57% of the shares[9] Operational Changes - The company plans to transfer 75% of its stake in its subsidiary, Han Cheng Zhong Lu Juice Co., Ltd., to adjust its operational layout and reduce costs[15] - The company has not disclosed any new product developments or market expansion strategies in this report[11] Financial Reporting - The report has not been audited, indicating potential limitations in the financial data presented[5] - The company reported a significant increase in non-operating income, totaling CNY 1,039,208.34 for the year-to-date[8] Inventory and Receivables - Accounts receivable decreased by 56% to ¥13,808,731.35 due to the maturity of notes[12] - Inventory decreased by 33% to ¥365,803,810.47 as a result of product sales[12] - Accounts receivable decreased from CNY 224,526,680.46 to CNY 169,556,202.42, a reduction of approximately 25%[23] - Inventory decreased significantly from CNY 19,394,355.72 to CNY 3,017,006.00, a decline of about 84%[24]

Financial Performance - The company's operating revenue for the first half of 2017 was RMB 428.14 million, a decrease of 13.68% compared to RMB 496.02 million in the same period last year[18]. - The net profit attributable to shareholders was RMB 1.62 million, down 83.25% from RMB 9.66 million year-on-year[18]. - The net cash flow from operating activities was RMB 411.50 million, a decline of 6.33% from RMB 439.30 million in the previous year[18]. - The total assets decreased by 24.12% to RMB 1.34 billion from RMB 1.76 billion at the end of the previous year[18]. - The basic earnings per share dropped to RMB 0.0062, down 83.15% from RMB 0.0368 in the same period last year[19]. - The weighted average return on net assets was 0.20%, a decrease of 0.98 percentage points compared to 1.18% in the previous year[19]. - The company reported a total of RMB 1.11 million in non-recurring gains and losses for the period[21]. - The company achieved a sales revenue of 428.14 million RMB, a decrease of 13.68% compared to the previous year[32]. - The net profit for the period was 6.04 million RMB, with a total profit of 7.67 million RMB[29][31]. - The company reported a comprehensive income total of CNY 5,218,242.68, down from CNY 11,672,605.21 in the previous year[75]. Assets and Liabilities - The total assets as of the end of the reporting period were CNY 1,145,647,438.18, a decrease from CNY 1,400,364,592.35 at the end of the previous period[72]. - Total liabilities amounted to CNY 603,623,445.87, down from CNY 859,788,457.63 in the previous period[72]. - Total current assets decreased from 1,063,187,986.09 to 652,604,776.69, a decline of approximately 38.7%[66]. - Total liabilities decreased from 773,531,674.88 to 346,974,140.32, a reduction of about 55.2%[68]. - Current liabilities fell from 759,345,943.91 to 332,233,263.46, a decline of approximately 56.3%[67]. Cash Flow - The company's operating cash flow net amount was 411.50 million RMB, a decrease of 6.33% compared to the previous year[32]. - Cash and cash equivalents decreased from 159,273,337.77 to 129,707,698.32, a decline of approximately 18.5%[66]. - The company's cash flow from financing activities showed a net outflow of CNY 418,979,816.84, an improvement from a net outflow of CNY 514,819,977.01 in the prior year[81]. - The cash inflow from loans received was 300,000,000.00 RMB, indicating reliance on external financing[84]. - The cash outflow for debt repayment was 416,918,603.23 RMB, highlighting the company's debt management strategy[84]. Market and Sales - The company exported 275,000 tons of concentrated apple juice in the first half of 2017, representing a year-on-year growth of 6%[25]. - The average price of concentrated apple juice was 991 USD/ton, down 11% year-on-year[25]. - The company is actively expanding its market presence in the Middle East and Southeast Asia while consolidating its advantages in North America and Japan[29]. Research and Development - The company has established a research platform in collaboration with Jinan Fruit Research Institute, successfully developing over ten new fruit and vegetable juice products[29]. - The company holds 1 international invention patent, 13 national invention patents, and 18 utility model patents, indicating a strong focus on R&D[26]. - The company has ongoing research and development efforts but specific new products or technologies were not detailed in the report[73]. Risks and Challenges - The company faces risks from fluctuations in the RMB exchange rate and rising production material costs[5]. - The company faces risks related to RMB exchange rate fluctuations, which may increase uncertainty in foreign exchange gains and losses[42]. - In the first half of 2017, the Producer Price Index (PPI) rose by 6.6% year-on-year, significantly impacting the company's cost control due to rising production material costs[42]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 17,212[58]. - The largest shareholder, China Development Investment Corporation, holds 116,855,469 shares, representing 44.57% of the total shares[58]. - The second-largest shareholder, Rushan Economic Development Investment Corporation, holds 8,190,000 shares, which are currently frozen[58]. Corporate Governance - The company has not reported any changes in the controlling shareholder or actual controller[61]. - The controlling shareholder, China National Investment Corporation, has maintained a good credit status without any major debt defaults[47]. - The company appointed a new deputy general manager, Li Fuhai, on April 12, 2017, while the previous deputy general manager, Pang Jiaqing, resigned on May 8, 2017[62]. Accounting and Financial Policies - The financial statements are prepared in accordance with the relevant accounting standards, reflecting the company's financial position and operating results accurately[107]. - The company has confirmed that there are no significant changes in accounting policies or estimates during the reporting period[171]. - The company has not made any adjustments for prior period errors or accounting policy changes in this reporting period[93].

Financial Performance - Operating revenue fell by 25.97% to CNY 211,176,582.84 year-on-year[6] - Net profit attributable to shareholders decreased by 59.00% to CNY 2,232,640.96 compared to the same period last year[6] - Basic earnings per share dropped by 59.13% to CNY 0.0085[6] - Total operating revenue for Q1 2017 was CNY 211,176,582.84, a decrease of 26% compared to CNY 285,253,097.44 in the same period last year[29] - Net profit for Q1 2017 was CNY 5,352,063.21, a decline of 19% from CNY 6,569,467.07 in Q1 2016[30] - The net profit for Q1 2017 was CNY 409,584.50, compared to a net loss of CNY 15,569,078.66 in the same period last year[34] - The total comprehensive income for the period was CNY 409,584.50, contrasting with a comprehensive loss of CNY 15,569,078.66 in the previous year[34] Assets and Liabilities - Total assets decreased by 8.26% to CNY 1,616,974,091.41 compared to the end of the previous year[6] - The company's total assets decreased from CNY 1,762,608,055.27 at the beginning of the year to CNY 1,616,974,091.41 by the end of Q1 2017[23] - The company's total assets decreased to CNY 1,341,057,149.28 from CNY 1,400,364,592.35, reflecting a reduction of approximately 4.2%[28] - Total liabilities decreased to CNY 800,071,430.06 from CNY 859,788,457.63, indicating a decline of about 6.9%[28] - The company's current liabilities decreased from CNY 759,345,943.91 to CNY 607,959,389.94, indicating improved liquidity[24] Cash Flow - Cash flow from operating activities decreased by 3.96% to CNY 198,248,413.33[6] - Cash inflow from operating activities totaled CNY 281,033,709.47, down 16% from CNY 334,798,161.01 in the previous year[36] - The net cash flow from operating activities was CNY 198,248,413.33, a decrease of 4% compared to CNY 206,422,474.50 in Q1 2016[36] - The cash flow from investing activities was negative at CNY -4,559,717.62, worsening from CNY -2,919,727.03 in Q1 2016[36] - The company incurred CNY 156,473,730.27 in cash outflows from financing activities, compared to CNY 208,236,937.77 in the same period last year[37] Shareholder Information - The number of shareholders reached 19,604 at the end of the reporting period[11] - The largest shareholder, China Development Investment Corporation, holds 44.57% of the shares[11] Inventory and Receivables - The company's inventory decreased significantly from CNY 543,870,462.62 to CNY 404,604,789.38, reflecting a 25.7% reduction[22] - The company reported a decrease in inventory from CNY 19,394,355.72 to CNY 12,309,506.37, a reduction of approximately 36.4%[28] - Other receivables decreased from CNY 431,574,409.39 to CNY 338,936,771.44, a decline of about 21.4%[28] - Prepaid accounts increased by 789% to CNY 20,445,285.85 due to increased costs during the non-juicing season[14] - Other current assets decreased by 44% to CNY 23,299,816.56 primarily due to a reduction in VAT credits[14] Expenses - The company's financial expenses decreased by 35% to CNY 5,822,629.29, primarily due to a reduction in interest expenses[15] - The company's tax expenses decreased by 47% to CNY 6,596.38, attributed to a reduction in taxable income[15] - The company reported a decrease in sales expenses from CNY 24,683,494.79 to CNY 21,039,113.59, a reduction of approximately 14%[30] - Total operating costs for Q1 2017 were CNY 206,256,462.32, down 26% from CNY 279,842,253.34 year-over-year[30] Equity - The company’s total equity increased slightly to CNY 540,985,719.22 from CNY 540,576,134.72, reflecting a marginal growth of 0.08%[28] - The company's minority shareholders' profit increased by 178% to CNY 3,119,422.25, compared to CNY 1,123,918.63 in the previous year[15] Strategic Decisions - The company plans to continue the sale of its 75% stake in the subsidiary Hancheng Zhonglu, as approved by the board on April 12, 2017[18]

Financial Performance - The company's operating revenue for 2016 was approximately ¥964.06 million, a decrease of 12.19% compared to ¥1,097.91 million in 2015[18]. - The net profit attributable to shareholders was ¥899,974.20, a significant decline of 97.19% from ¥31.97 million in the previous year[18]. - The total assets decreased by 6.01% to ¥1,762.61 million from ¥1,875.41 million in 2015[18]. - The basic earnings per share for 2016 was ¥0.0034, down 97.21% from ¥0.1219 in 2015[19]. - The weighted average return on net assets was 0.11%, a decrease of 3.89 percentage points from 4.00% in 2015[19]. - The company reported a net cash flow from operating activities of approximately ¥146.36 million, an increase of 32.35% compared to ¥110.59 million in 2015[18]. - The company's net profit attributable to shareholders was -2.62 million RMB in Q4 2016, with a total annual net profit of -3.78 million RMB[20]. - The company achieved a total profit of 11.11 million yuan for the year 2016[33]. - Operating revenue decreased by 12.19% to 964,055,615.22 yuan compared to 1,097,908,222.76 yuan in the previous year[35]. - Operating costs decreased by 11.24% to 771,664,760.06 yuan from 869,343,315.27 yuan year-on-year[35]. - The company’s gross margin for the beverage manufacturing sector was 19.67%, a decrease of 0.85 percentage points year-on-year[41]. - Domestic market revenue fell by 57.68% to 94,410,205.72 yuan, with a gross margin decline of 9.61 percentage points[41]. - The company reported a total of CNY 55,901,713.75 in related party transactions, with a market price comparison showing a variance of 5.83%[76]. Assets and Liabilities - The total net assets attributable to shareholders at the end of 2016 were approximately ¥818.70 million, a slight increase of 0.32% from ¥816.12 million in 2015[18]. - The company has a total of ¥11,270,973.21 in restricted assets, including fixed assets valued at ¥4,333,314.13 frozen by the court[50]. - Total assets decreased from CNY 1,875,407,731.56 to CNY 1,762,608,055.27, a decline of approximately 6.03%[141]. - Current liabilities decreased from CNY 881,464,605.18 to CNY 759,345,943.91, a reduction of about 13.83%[141]. - Total liabilities decreased from CNY 895,330,685.99 to CNY 773,531,674.88, a decrease of about 13.6%[142]. - Owner's equity increased slightly from CNY 980,077,045.57 to CNY 989,076,380.39, an increase of approximately 0.1%[142]. - The company reported a net loss of CNY 10,404,758.57 in retained earnings, an improvement from a loss of CNY 10,866,945.79[142]. Market and Product Development - The company developed 20 new fruit and vegetable juice products during the reporting period, including concentrated purple beet juice, which received customer recognition[31]. - The company’s concentrated juice products have a 90% export rate, primarily to developed economies such as the US, Japan, and Europe[25]. - The company has established a five-year development plan (2017-2020) focusing on internationalization and diversification in the health food processing sector[32]. - The company is focusing on projects such as "Key Technologies and Demonstration for Minimal Processing of Apples" and "Freshly Squeezed Fruit Pulp" to enhance market competitiveness[46]. - The concentrated apple juice industry in China is facing overcapacity, with production costs rising and overall profitability remaining weak and volatile[60]. - Per capita juice consumption in China is currently about 25% of that in developed countries, indicating significant market demand potential[60]. - The company plans to enhance profitability by strengthening cost control and expanding market reach, focusing on health-oriented food production[61]. Risks and Challenges - The company faced significant risks from international trade protectionism and food safety concerns, which were detailed in the report[4]. - Food safety remains a critical risk, with increasing standards from importing countries adding pressure on product quality[63]. - The company is closely monitoring international trade protectionism, particularly in the U.S., which is a key export market[63]. Research and Development - The company’s R&D center has developed multiple new products and received significant government funding for technological innovation[27]. - Research and development expenses amounted to 8,335,268.90 yuan, representing 0.86% of operating revenue[45]. - The company has been awarded two patents in 2016, including a method for producing concentrated sweet potato juice and a method for processing cucumber juice[32]. Corporate Governance and Management - The company’s board of directors consists of experienced professionals with backgrounds in finance and management from various sectors[108]. - The company has maintained a consistent approach to executive compensation, ensuring alignment with performance outcomes[107]. - The company’s independent directors have not received any remuneration from related parties during the reporting period[106]. - The company has not reported any significant changes in stock ownership among its executives, indicating stability in leadership[106]. - The company appointed Tianzhi International Accounting Firm with an audit fee of CNY 580,000 for a five-year term[73]. Cash Flow and Financing - Cash received from operating activities decreased by 66.88% to ¥9,534,778.30 compared to ¥28,785,806.49 in the previous year[47]. - Cash paid for fixed assets and other long-term assets decreased by 58.38% to ¥27,271,892.16 from ¥65,533,224.91 year-on-year[47]. - Cash inflow from financing activities was ¥664,537,604.30, down from ¥1,200,000,000.00, representing a decline of about 44.6%[157]. - Net cash flow from financing activities decreased to -¥363,460,801.11, compared to -¥210,366,147.02 in the previous year, indicating a worsening of approximately 72.7%[157]. Shareholder Information - The largest shareholder, China National Development and Investment Corporation, holds 44.57% of the shares, totaling 116,855,469 shares[97]. - The total number of ordinary shareholders increased from 19,604 to 28,121 during the reporting period[89]. - The company has not disclosed any new major contracts or significant changes in its financial obligations during the reporting period[80]. Compliance and Reporting - The company’s audit report confirmed that the financial statements fairly reflect its financial position and results of operations for the year ended December 31, 2016[138]. - The company’s internal control self-assessment report was disclosed on April 13, 2017, indicating no significant deficiencies[132]. - The company’s financial reports comply with the requirements of the accounting standards, reflecting its financial position and operating results accurately[182].

Financial Performance - Net profit attributable to shareholders increased by 13.61% to CNY 3,517,110.96 for the period from January to September[6] - Operating revenue decreased by 4.39% to CNY 656,813,273.06 for the period from January to September[6] - Cash flow from operating activities showed a slight decrease of 0.31% to CNY 363,392,529.05 for the period from January to September[6] - The weighted average return on net assets increased by 0.04 percentage points to 0.43%[7] - Basic and diluted earnings per share increased by 8.33% to CNY 0.013[7] - The company reported a net loss of CNY 7,349,834.83, improving from a loss of CNY 10,866,945.79 in the previous period[25] - Year-to-date net profit as of September 2016 was a loss of ¥2,060,218.10, compared to a loss of ¥1,614,965.28 in the same period last year[33] - The net profit for Q3 2016 was a loss of ¥8,852,781.07, compared to a profit of ¥8,620,287.20 in Q3 2015[33] - The total comprehensive income for Q3 2016 was -¥8,622,203.57, compared to ¥8,963,448.87 in Q3 2015[34] Assets and Liabilities - Total assets decreased by 16.56% to CNY 1,564,866,289.34 compared to the end of the previous year[6] - Current assets decreased from CNY 1,157,435,289.12 to CNY 865,998,724.50, a decline of approximately 25.2%[23] - Total liabilities decreased from CNY 895,330,685.99 to CNY 583,459,955.39, a decline of about 34.8%[25] - Current liabilities decreased from CNY 881,464,605.18 to CNY 570,058,646.92, a reduction of approximately 35.2%[24] - Non-current assets decreased slightly from CNY 717,972,442.44 to CNY 698,867,564.84, a decline of about 2.3%[24] Shareholder Information - The total number of shareholders reached 16,150 at the end of the reporting period[9] - The largest shareholder, China Development Investment Corporation, holds 44.57% of the shares[9] Cash Flow and Investments - Cash inflow from operating activities for the first nine months of 2016 was 851,745,302.37 RMB, up from 715,698,821.87 RMB year-on-year, representing an increase of approximately 19%[38] - The net cash flow from operating activities for the first nine months of 2016 was 363,392,529.05 RMB, slightly down from 364,509,931.49 RMB in the previous year[38] - Cash outflow from investing activities for the first nine months of 2016 was 18,250,786.76 RMB, compared to 56,706,074.50 RMB in the same period last year, indicating a significant reduction in investment spending[39] - The net cash flow from financing activities for the first nine months of 2016 was -358,346,367.07 RMB, an improvement from -496,156,893.69 RMB in the previous year[39] - The total cash and cash equivalents at the end of Q3 2016 was 154,453,575.83 RMB, compared to 136,096,498.33 RMB at the end of the same period last year[39] Operational Adjustments - The company plans to sell 75% of its stake in Hancheng Zhonglu Juice Co., Ltd. to adjust its operational layout and reduce costs[17] - The transfer price for the 75% stake in Hancheng Zhonglu is set at ¥101,315,264.35, with payment to be made in a lump sum[18] - The company received a relocation compensation of ¥1,000,000 for its R&D center and subsidiary, with further payments to be arranged[19][20] Changes in Accounts - Accounts receivable decreased by 37% to ¥158,921,025.83 due to a year-on-year reduction in sales volume[12] - Prepaid accounts increased by 520% to ¥34,110,330.32 primarily due to increased non-production expenses[12] - Inventory decreased by 37% to ¥393,479,533.61 as a result of product sales[12] - Short-term loans decreased by 42% to ¥466,706,547.54 mainly due to repayment of bank loans[12] - Financial expenses decreased by 54% to ¥10,777,458.49 due to a reduction in short-term loans[13] - Operating tax and surcharges decreased by 35% to ¥3,892,322.76 primarily due to a decrease in turnover tax[13] Year-to-Date Comparisons - Year-to-date operating revenue as of September 2016 was ¥656,813,273.06, a decrease of 4.4% from ¥686,983,975.06 in the same period last year[32] - Year-to-date total operating costs as of September 2016 were ¥656,201,734.83, down from ¥690,607,821.12 in the previous year[32] - The company reported a significant increase in management expenses, which rose to ¥51,240,448.77 year-to-date, compared to ¥45,160,504.60 in the previous year[32] - The company experienced a decrease in sales expenses, which were ¥66,649,950.72 year-to-date, compared to ¥68,902,174.70 in the previous year[32]

Financial Performance - The company's operating revenue for the first half of 2016 was RMB 496,016,500.70, representing a 16.66% increase compared to RMB 425,182,950.93 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2016 was RMB 9,657,031.79, a significant recovery from a loss of RMB 9,248,945.94 in the previous year[20]. - The net cash flow from operating activities increased by 34.56% to RMB 439,304,778.78, up from RMB 326,484,541.46 in the same period last year[20]. - The basic earnings per share for the first half of 2016 was RMB 0.037, a recovery from a loss of RMB 0.035 in the same period last year[20]. - The weighted average return on net assets was 1.18%, improving from -1.19% in the previous year[20]. - In the first half of 2016, the company achieved a net profit attributable to shareholders of 9,657,031.79 RMB, an increase of 204.41% compared to the same period last year[25]. - The company's operating revenue reached 496,016,500.70 RMB, representing a year-on-year growth of 16.66%[28]. - The company reported a total comprehensive income for the first half of 2016 was approximately ¥11.67 million, compared to a total comprehensive loss of -¥10.26 million in the previous year, marking a significant improvement[70]. Asset and Liability Management - The total assets decreased by 26.21% to RMB 1,383,931,553.47 compared to RMB 1,875,407,731.56 at the end of the previous year[20]. - The company's net assets attributable to shareholders increased by 1.28% to RMB 826,534,527.91 from RMB 816,117,890.08 at the end of the previous year[20]. - The total current assets decreased from CNY 1,157,435,289.12 at the beginning of the period to CNY 680,206,604.95 by the end of the period, representing a decline of approximately 41.3%[61]. - The total liabilities decreased from CNY 895,330,685.99 to CNY 393,903,015.95, indicating a reduction of about 56.1%[62]. - The company’s short-term borrowings decreased from CNY 806,000,000.00 to CNY 306,000,000.00, a reduction of about 62%[62]. - The company has outstanding loans totaling CNY 1.1 billion with various financial institutions, with interest rates ranging from 3.915% to 5.35%[45]. Operational Challenges and Strategic Adjustments - The company is currently facing challenges such as raw material shortages and high production costs, prompting strategic adjustments[41]. - The company is divesting its 75% stake in a subsidiary due to high production costs and resource scarcity, a decision approved by the board and shareholders[25]. - The company plans to transfer 75% of its stake in Hancheng Zhonglu Juice Co. to improve operational efficiency and reduce costs, with the transfer price not less than the assessed value[41]. Research and Development - The company has made progress in research and development, obtaining a national invention patent for a cucumber juice processing method and receiving a second prize for technological innovation from the China Light Industry Federation[25]. - R&D expenditures rose by 35.23% to 4,843,033.17 RMB as the company accelerated the development of new products to meet market demands[28]. Market Performance - International market revenue increased by 29.21% to 466,090,702.51 RMB, while domestic market revenue decreased by 58.04%[33]. - The company is focusing on market expansion in regions such as the Middle East and Southeast Asia while consolidating its presence in North America and Japan[24]. Shareholder Information - The total number of shareholders at the end of the reporting period is 14,925[54]. - The largest shareholder, China National Development Investment Corporation, holds 44.57% of the shares, totaling 116,855,469 shares[55]. - The company has not reported any changes in its share capital structure during the reporting period[52]. Compliance and Governance - The company has maintained compliance with corporate governance regulations as per relevant laws and guidelines[47]. - The company has not experienced any penalties or corrective actions involving its directors or senior management[47]. Financial Reporting and Accounting Policies - The financial statements are prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations[99]. - The company adheres to accounting standards, ensuring that financial statements accurately reflect its financial position and operating results[100]. - The company recognizes revenue from the sale of goods when the significant risks and rewards of ownership have transferred to the buyer, ensuring that the revenue amount can be reliably measured[142]. Cash Flow Management - The company’s cash flow from operating activities was significantly higher than cash outflows, indicating strong operational performance despite challenges in financing[78]. - The company plans to focus on reducing investment outflows while managing financing activities to improve cash flow stability in the future[79].

Financial Performance - Operating revenue increased by 33.72% to CNY 285,253,097.44 compared to the same period last year[6] - Net profit attributable to shareholders increased by 292.51% to CNY 5,445,548.44 compared to the same period last year[6] - Basic earnings per share increased by 292.59% to CNY 0.0208 compared to the same period last year[6] - Revenue for Q1 2016 reached ¥285,253,097.44, an increase of 34% compared to ¥213,324,735.47 in Q1 2015, primarily due to increased product sales volume[13] - Net profit attributable to shareholders was ¥5,445,548.44, a significant increase of 293% from a loss of ¥2,828,711.19 in the same period last year[13] - Operating profit for Q1 2016 was ¥5,410,844.10, a significant recovery from a loss of ¥4,388,100.49 in Q1 2015[25] - Net profit for Q1 2016 amounted to ¥6,569,467.07, compared to a net loss of ¥4,576,368.31 in the previous year[26] Cash Flow - Cash flow from operating activities increased by 12.97% to CNY 206,422,474.50 compared to the same period last year[6] - Cash flow from investing activities showed a net outflow of ¥2,919,727.03, a decrease of 93% compared to an outflow of ¥40,758,984.81 in Q1 2015, mainly due to reduced cash payments for long-term assets[14] - Cash flow from financing activities decreased by 34% to a net outflow of ¥208,236,937.77 from ¥313,900,000.00, primarily due to reduced cash payments for debt repayment[14] - Operating cash flow for the company was CNY 206,422,474.50, up from CNY 182,727,373.97 in Q1 2015, representing an increase of about 12.9%[31] - Cash outflows from financing activities totaled CNY 208,236,937.77, down from CNY 313,900,000.00 in the previous year, indicating a decrease of about 33.7%[32] Assets and Liabilities - Total assets decreased by 10.94% to CNY 1,670,289,941.37 compared to the end of the previous year[6] - Total assets as of March 31, 2016, were ¥1,670,289,941.37, down from ¥1,875,407,731.56 at the beginning of the year[17] - Current liabilities decreased to ¥670,068,189.24 from ¥881,464,605.18, reflecting a reduction in short-term borrowings[19] - Current liabilities decreased to ¥827,115,269.55 from ¥889,841,871.71, a reduction of about 7.1%[23] - The total equity of the company as of Q1 2016 was ¥532,784,325.49, down from ¥548,353,404.15 at the start of the year[24] Inventory and Accounts - Inventory decreased by 32% to CNY 421,097,713.82 due to increased product sales[11] - Inventory decreased significantly to ¥421,097,713.82 from ¥623,629,070.99, indicating improved inventory management[17] - Accounts payable decreased by 53% to CNY 26,177,881.45 as a result of payments made on outstanding liabilities[11] - Accounts receivable rose to ¥292,830,614.80 from ¥269,940,141.56, reflecting an increase of about 8.5%[22] Shareholder Information - The number of shareholders reached 12,413 at the end of the reporting period[8] - The largest shareholder, China Development Investment Corporation, holds 44.57% of the shares[8] Other Income and Expenses - Non-operating income included government subsidies amounting to CNY 1,072,570.17[8] - The company received a relocation compensation of ¥1,000,000 from the local government, which positively impacted other income[15] - The company incurred operating expenses of CNY 128,375,686.51, which is significantly higher than CNY 70,623,037.18 from the previous year, reflecting an increase of about 81.7%[31] - The company received tax refunds amounting to CNY 41,578,549.11, an increase from CNY 33,364,929.81 in the previous year, representing a growth of approximately 24.0%[31] Comprehensive Income - The company reported a net loss of CNY 15,569,078.66 for Q1 2016, an improvement from a net loss of CNY 16,824,119.52 in the same period last year, indicating a reduction in losses by approximately 7.5%[28] - The company’s total comprehensive income for the period was CNY -15,569,078.66, which is an improvement from CNY -16,824,119.52 in the previous year, reflecting a reduction in comprehensive losses[28] - The company’s basic earnings per share remain negative, reflecting ongoing challenges in achieving profitability[28]

Financial Performance - The company's operating revenue for 2015 was approximately ¥1.10 billion, an increase of 25.10% compared to ¥877.61 million in 2014[18]. - The net profit attributable to shareholders was ¥31.97 million, a significant turnaround from a loss of ¥111.15 million in 2014, representing a 128.77% improvement[18]. - The basic earnings per share for 2015 was ¥0.1219, compared to a loss of ¥0.4239 per share in 2014, marking a 128.76% increase[19]. - The weighted average return on equity improved to 4.00% from -13.24% in the previous year, an increase of 17.24 percentage points[19]. - The company's gross profit margin improved by 4.54 percentage points to 20.52% due to effective cost control measures[39]. - The company achieved a turnaround from loss to profit, driven by increased sales and improved cost management[32]. - The company reported a total profit of ¥63,520,046.48, compared to a loss of ¥127,129,738.85 in the previous year[138]. - Net profit reached ¥47,901,552.26, compared to a net loss of ¥128,850,817.19 in the previous period, marking a turnaround[138]. Cash Flow and Assets - The cash flow from operating activities was ¥110.59 million, down 54.62% from ¥243.68 million in 2014[18]. - The net cash flow from operating activities was 110,589,695.54 RMB, a decrease of 54.5% compared to the previous year[145]. - Cash and cash equivalents decreased by 49.11% to 166.76 million yuan from 327.70 million yuan[47]. - The company's cash and cash equivalents decreased to ¥166,764,083.35 from ¥327,703,869.21, representing a decline of about 49%[130]. - Accounts receivable increased by 108.43% to 253.13 million yuan, attributed to increased sales during the credit period[48]. - Inventory decreased by 35.78% to 623.63 million yuan, reflecting successful product sales[49]. - The total amount of related party transactions was 183,258,072.83 RMB, representing 16.84% of similar transaction amounts[72]. Market and Product Development - The company has established a solid market sales network overseas, with an export rate exceeding 80%, primarily targeting markets in the USA, Japan, Canada, and Europe[24]. - The concentrated apple juice market remains stable, with China being the largest producer globally, indicating potential for growth in domestic consumption[25]. - The company has developed over 20 products, including concentrated sweet potato juice and cucumber juice, diversifying its product offerings[27]. - Management indicated plans for market expansion and new product development to sustain growth momentum in the upcoming periods[138]. Risks and Challenges - The company faces risks from exchange rate fluctuations, economic slowdown, and raw material price volatility, which are detailed in the management discussion section[5]. - The company is exposed to exchange rate fluctuation risks, particularly as its sales are primarily settled in USD, which could impact export pricing and lead to significant foreign exchange losses[59]. - The company anticipates challenges from slowing economic growth in China, which may affect domestic market expansion and increase operational risks[60]. - The main raw material, apples, poses a risk due to price volatility influenced by various factors, impacting cost control and production planning[60]. Shareholder and Governance - The controlling shareholder, National Development Investment Corporation, increased its stake in the company by purchasing 499,926 shares, raising its ownership from 44.37% to 44.57%[75]. - The total number of ordinary shareholders as of the end of the reporting period is 12,146, a decrease from 12,237 at the end of the previous month[84]. - The largest shareholder, China National Development Investment Corporation, holds 44.57% of the shares, totaling 116,855,469 shares, with an increase of 499,926 shares during the reporting period[86]. - The company has no significant changes in the number of shares held by major shareholders or any new strategies disclosed during the reporting period[87]. Employee and Management - The company has a total of 8 directors and supervisors with extensive experience in various sectors, including agriculture and finance[103]. - The company has implemented a new salary management system to enhance employee motivation and align salary levels with market competitiveness[109]. - The company organized various training programs for employees, focusing on corporate culture, management systems, and safety regulations[110]. - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 3.5 million CNY for each of the directors, except for the general manager who received 21.81 million CNY[99]. Financial Position and Equity - The total assets decreased by 16.21% to ¥1.88 billion from ¥2.24 billion in 2014[18]. - Owner's equity increased from ¥933,047,536.58 to ¥980,077,045.57, an increase of about 5%[132]. - The total liabilities and owner's equity decreased from ¥2,238,092,430.74 to ¥1,875,407,731.56, a decline of about 16.2%[132]. - The company’s retained earnings decreased by CNY 41,948,798.63, reflecting challenges in profit retention[156]. Compliance and Audit - The company engaged Tianzhi International Accounting Firm for auditing services, with a remuneration of 580,000 RMB for the year[69]. - The company did not identify any legal or regulatory violations in its financial practices during the reporting period[117]. - The financial statements were approved by the board of directors on March 25, 2016[168].

Financial Performance - Net profit attributable to shareholders of the listed company was ¥3,095,766.66, a significant recovery from a loss of ¥47,639,514.94 in the same period last year[9]. - Operating revenue for the first nine months increased by 1.10% year-on-year, reaching ¥686,983,975.06[9]. - The weighted average return on net assets improved to 0.39% from -5.47% in the same period last year[9]. - Basic and diluted earnings per share were both ¥0.012, recovering from a loss of ¥0.182 per share in the previous year[9]. - Total revenue for Q3 2015 was CNY 261,801,024.13, an increase of 10.5% compared to CNY 236,199,760.16 in the same period last year[31]. - The net profit for Q3 2015 was ¥8,620,287.20, compared to a net loss of ¥30,144,219.59 in Q3 2014, indicating a significant turnaround[33]. - The company reported a total comprehensive income of ¥8,963,448.87 for Q3 2015, compared to a total comprehensive loss of ¥30,136,214.66 in Q3 2014[34]. - The company incurred an operating loss of ¥59,433,264.10 for the first nine months of 2015, compared to a loss of ¥41,141,060.19 in the same period of 2014[35]. Assets and Liabilities - Total assets decreased by 21.58% compared to the end of the previous year, amounting to ¥1,755,091,227.28[9]. - Total assets decreased to CNY 1,400,289,929.81 from CNY 1,861,203,739.64 at the beginning of the year, representing a decline of approximately 24.7%[30]. - Current liabilities totaled CNY 845,316,037.49, down from CNY 1,246,841,079.69, indicating a reduction of about 32.2%[30]. - Owner's equity decreased to CNY 554,273,892.32 from CNY 613,662,659.95, reflecting a decline of approximately 9.6%[30]. - The total liabilities of the company were CNY 846,016,037.49, down from CNY 1,247,541,079.69, indicating a decrease of approximately 32.2%[30]. Cash Flow - The net cash flow from operating activities for the first nine months was ¥364,509,931.49, a slight decrease of 1.56% compared to the previous year[9]. - Cash inflow from operating activities for the first nine months of 2015 was 715,698,821.87 RMB, down 11.6% from 809,782,320.07 RMB in the same period last year[39]. - Cash outflow from operating activities totaled 351,188,890.38 RMB, a decrease from 439,499,258.38 RMB year-over-year, resulting in a net cash flow from operating activities of 364,509,931.49 RMB, slightly down from 370,283,061.69 RMB[39]. - Cash inflow from financing activities was 856,000,000.00 RMB, compared to 879,611,522.08 RMB in the previous year, showing a decrease of about 2.7%[40]. - Cash outflow from financing activities increased to 1,352,156,893.69 RMB from 916,565,204.19 RMB, leading to a net cash flow from financing activities of -496,156,893.69 RMB, compared to -36,953,682.11 RMB last year[40]. - The ending cash and cash equivalents balance as of September 30, 2015, was 136,096,498.33 RMB, a significant decrease from 427,734,795.23 RMB at the end of the previous year[40]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,105[12]. - The largest shareholder, State Development Investment Corporation, held 44.56% of the shares[12]. - The controlling shareholder increased its stake by acquiring 499,926 shares, raising its ownership from 44.37% to 44.56%[20]. Government Support and Subsidies - The company received government subsidies amounting to ¥452,312.83 during the reporting period[9]. Inventory and Prepayments - Prepayments increased significantly by 1689% to ¥49,339,644.53 from ¥2,758,103.62, attributed to increased costs during the suspension of operations[15]. - Inventory decreased by 39% to ¥596,210,186.70 from ¥971,115,910.91, primarily due to actual product sales[15]. Financial Expenses and Income - Financial expenses decreased by 37% to ¥23,283,795.92 from ¥37,009,770.58, mainly due to a reduction in short-term loans and depreciation of the RMB[16]. - Non-operating income and expenses totaled ¥991,039.07, down from ¥2,916,914.12 in the previous year[10]. - Investment income for Q3 2015 was ¥3,660,000.00, a significant increase from ¥460,000.00 in Q3 2014[35]. Depreciation and Impairment - Asset impairment losses decreased by 89% to ¥1,297,512.10 from ¥11,804,889.71, due to a reduction in bad debt losses and fixed asset impairment losses[17]. - The company adjusted the estimated useful life and residual value of fixed assets, resulting in a reduction of depreciation expense by ¥19,540,200.00 for the first nine months of 2015[19].