Financial Performance - The company achieved a net profit of ¥65,972,229.85 for the year 2019, with a statutory surplus reserve of ¥6,597,222.99 deducted, resulting in a total undistributed profit available for distribution of ¥269,112,310.01 as of December 31, 2019[6]. - The proposed cash dividend distribution is ¥0.30 per 10 shares (including tax), amounting to a total of ¥19,580,267.52 based on the total share capital of 652,675,584 shares[6]. - The cash dividend represents 30.93% of the net profit attributable to shareholders of the listed company for 2019[6]. - The company's operating revenue for 2019 was approximately CNY 2.13 billion, representing a 4.38% increase compared to CNY 2.04 billion in 2018[26]. - The net profit attributable to shareholders was CNY 63.30 million, a significant recovery from a loss of CNY 35.84 million in 2018[26]. - The net profit after deducting non-recurring gains and losses was CNY 60.07 million, compared to a loss of CNY 45.69 million in the previous year[26]. - The basic earnings per share for 2019 was CNY 0.10, a recovery from a loss of CNY 0.05 in 2018[26]. - The weighted average return on equity increased to 5.58%, up 8.72 percentage points from -3.14% in 2018[26]. Operational Overview - The company has established a complete industrial chain layout for pig farming, including feed production, breeding, and meat processing[35]. - The company operates 13 self-owned and 24 leased pig farming bases, utilizing both self-raising and cooperative farming models[36]. - The slaughtering capacity of the company's subsidiary is 700,000 pigs per year, with a cold storage capacity of 40,000 tons[37]. - The company aims to optimize product structure and enhance quality control across the entire supply chain[36]. - The company has established a complete industrial chain from upstream raw material procurement to downstream sales, enhancing its risk resistance and regional competitiveness[44]. - The company has maintained a dual market strategy, engaging in both domestic and export sales to mitigate price fluctuations[45]. - The company has established partnerships with various agents for pig exports, primarily through auction methods in Hong Kong and Macau markets[128]. Risk Management - The report includes a risk statement regarding uncertainties in future plans and development strategies, advising investors to be cautious[8]. - The company has detailed potential risk factors and countermeasures in the report's operational discussion and analysis section[11]. - The company has implemented a comprehensive biosecurity management system to mitigate risks associated with disease outbreaks[46]. - The company faces risks from fluctuations in pig prices, which can significantly impact operations, and plans to mitigate this by diversifying sales strategies and optimizing the supply chain[186]. - Environmental policy changes pose a risk, and the company is committed to increasing investments in environmental protection measures to comply with stricter regulations[189]. - The company has enhanced its detection capabilities for African swine fever and invested in training for technical personnel to improve response measures[186]. Research and Development - The company’s R&D expenses surged by 218.33% to approximately ¥6.23 million, indicating a strong focus on innovation and technology development[63]. - The company has developed a standardized production and quality control system to ensure sustainable development in the pig industry[48]. - The company plans to continue its focus on innovation in breeding technology and management to reduce costs and enhance operational resilience[186]. Market Dynamics - In 2019, the average price of live pigs increased by 138.57% year-on-year, reaching 33.28 RMB/kg in December[44]. - The company reported a 27.5% year-on-year decrease in pig inventory, totaling 31,041 million heads in 2019, due to the impact of African swine fever[51]. - The company aims to increase the scale of pig farming, targeting a 58% scale farming rate by 2022 and over 65% by 2025[41]. - The competitive landscape of the pig industry remains fragmented, with a low concentration of large-scale breeding operations[172]. - The average annual growth rate of pork consumption is expected to be 1.5%, reaching 63.2 million tons by 2025, a 5.8% increase from 2020[174]. Financial Position - The company's total assets at the end of 2019 were approximately CNY 1.63 billion, reflecting a 2.43% increase from CNY 1.59 billion in 2018[26]. - The company has a low debt-to-asset ratio of less than 30%, allowing it to leverage capital markets for financing[48]. - The company's asset-liability ratio is below 30%, allowing for favorable financing conditions through both direct and indirect means[95]. - Cash and cash equivalents at the end of the period amounted to ¥177,801,910.76, representing 10.89% of total assets, a decrease of 46.15% compared to the previous year[83]. Strategic Initiatives - The company has established a specialized epidemic prevention agency to oversee and enforce biosecurity measures[95]. - The company aims to establish a full industry chain in pig farming, focusing on high-quality production and expanding into the Guangdong-Hong Kong-Macao Greater Bay Area and Shanghai Bay Area[179]. - The company is actively pursuing market expansion and technological development in the livestock sector[171]. - The company has made long-term commitments to align voting results with Xinwufeng during shareholder meetings[199].

Financial Performance - Operating revenue for the period from January to September was CNY 1,483,197,194.79, an increase of 22.03% year-on-year[17] - Net profit attributable to shareholders was a loss of CNY 41,737,460.43, slightly improved from a loss of CNY 43,453,727.31 in the same period last year[17] - The net cash flow from operating activities for the period was a negative CNY 156,535,441.95, compared to a negative CNY 66,709,350.21 in the previous year[17] - The weighted average return on equity decreased by 0.04 percentage points to -3.86%[17] - Basic and diluted earnings per share were both CNY -0.06, unchanged from the previous year[17] - The net profit for the first three quarters of 2019 was ¥1,483,197,194.79, compared to ¥1,215,448,459.32 in the same period of 2018, reflecting a growth of 22.0%[46] - The net profit for Q3 2019 was a loss of CNY 46,744,261.47, compared to a profit of CNY 12,904,490.59 in Q3 2018, indicating a significant decline[54] - The total profit for Q3 2019 was a loss of CNY 46,594,587.84, compared to a profit of CNY 14,279,113.45 in Q3 2018, reflecting a downturn in financial performance[54] - The company reported a net loss attributable to shareholders of CNY 47,748,302.52 in Q3 2019, compared to a profit of CNY 12,639,981.47 in Q3 2018[54] - The operating profit for Q3 2019 was a loss of CNY 36,328,747.55, compared to a profit of CNY 15,850,480.35 in Q3 2018, showing a negative shift in operational efficiency[54] - The total comprehensive income for Q3 2019 was a loss of CNY 46,744,261.47, compared to a profit of CNY 12,904,490.59 in Q3 2018[61] - The basic and diluted earnings per share for Q3 2019 were both CNY -0.07, down from CNY 0.02 in Q3 2018[63] - The company reported a total comprehensive loss of ¥52,221,030.73 for the third quarter, reflecting the overall financial challenges faced during this period[76] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,552,824,350.09, a decrease of 2.59% compared to the end of the previous year[17] - Total assets decreased from RMB 1,594,092,059.49 to RMB 1,552,824,350.09, reflecting a decline in both current and non-current assets[35] - Total liabilities decreased slightly from RMB 432,412,477.89 to RMB 430,258,632.55, indicating a stable liability position[38] - The company reported a total equity of ¥1,166,262,953.56, down from ¥1,207,257,344.42 at the end of 2018[45] - Total current liabilities amount to approximately $325.59 million[90] - Total non-current liabilities are approximately $106.83 million, leading to total liabilities of about $432.41 million[90] - The company has short-term borrowings of $29 million and accounts payable of approximately $73.03 million[90] - The company reported a capital reserve of approximately $252.24 million and retained earnings of about $124.58 million[92] Cash Flow - Cash and cash equivalents decreased by 46.84% from the beginning of the year to RMB 175,535,508.68 due to loan repayments[25] - Cash inflows from financing activities amounted to ¥100,000,000.00, while cash outflows for debt repayment were ¥61,500,000.00[78] - The cash flow from operating activities showed a net outflow of ¥156,535,441.95, compared to a smaller outflow of ¥66,709,350.21 in the previous year[78] - Total cash inflow from operating activities increased to 968,792,860.55 RMB in 2019, up from 811,642,988.91 RMB in 2018, reflecting a growth of approximately 19.4%[81] - Cash outflow from operating activities rose to 1,156,252,099.60 RMB in 2019, compared to 961,803,284.20 RMB in 2018, marking an increase of about 20.3%[81] - The net cash flow from investing activities was -18,961,076.28 RMB in 2019, a significant decrease from 241,349,955.37 RMB in 2018, indicating reduced investment returns[84] - Cash flow from financing activities showed a net inflow of 99,416,375.00 RMB in 2019, contrasting with a net outflow of -65,267,558.40 RMB in 2018, demonstrating improved financing conditions[84] Shareholder Information - The company had a total of 71,649 shareholders at the end of the reporting period[20] - The largest shareholder, Hunan Grain and Oil Food Import and Export Group Co., Ltd., held 202,018,546 shares, accounting for 30.95% of total shares[20] Government Subsidies and Other Income - Government subsidies recognized in the current period amounted to CNY 1,728,509.61, with a total of CNY 7,113,021.89 recognized from January to September[19] - Other income decreased by 43.10% to CNY 7,418,521.89, mainly due to a reduction in government subsidies received[25] - The company reported a total of CNY -7,350,052.23 in non-recurring gains and losses for the current period[19] Operational Efficiency - The company’s total operating expenses for Q3 2019 were CNY 401,429,252.24, up from CNY 269,858,118.51 in Q3 2018, indicating increased operational costs[65] - Research and development expenses for Q3 2019 were CNY 561,949.92, compared to CNY 446,479.59 in Q3 2018, reflecting a commitment to innovation despite financial losses[65]

证券代码：600975 证券简称：新五丰 公告编号：2019-036 湖南新五丰股份有限公司 关于参加 2019 年湖南辖区上市公司投资者 网上集体接待日活动的公告 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个别及连带责任。 为进一步强化与投资者的互动交流，使广大投资者能更深入全面地了解公司 情况，湖南新五丰股份有限公司（以下简称"公司"）将参加由中国证券监督管理 委员会湖南监管局指导，湖南省上市公司协会与深圳市全景网络有限公司联合举 办的"2019年湖南辖区上市公司投资者网上集体接待日"活动，现将有关事项公 告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网上 平台，采取网络远程的方式举行，投资者可以登陆"全景·路演天下"网站 （http://rs.p5w.net/）或关注微信公众号：全景财经，参与公司本次投资者集体接 待日活动，活动时间为2019年9月10日（星期二）下午15:00－17:00。 届时公司董事会秘书罗雁飞女士将通过网络文字交流形式与投资者进行沟 通。欢迎广大投资者积极参与。 特此公告。 湖 ...

Financial Performance - The company's operating revenue for the first half of 2019 was RMB 822.6 million, representing a 10.17% increase compared to RMB 746.7 million in the same period last year[22]. - The net profit attributable to shareholders of the listed company was RMB 6.01 million, a significant recovery from a loss of RMB 56.09 million in the previous year[22]. - The basic earnings per share for the reporting period was RMB 0.01, recovering from a loss of RMB 0.09 per share in the same period last year[22]. - The weighted average return on net assets increased by 5.36 percentage points to 0.54% compared to -4.82% in the previous year[22]. - The company reported a total operating revenue of CNY 822.60 million, reflecting a growth of 10.17% compared to the previous year[57]. - The company’s financial expenses increased by 64.19% to CNY 2.39 million, mainly due to a reduction in cash funds and interest income[57]. - The company’s cash flow from operating activities showed a net outflow of CNY 222.60 million, worsening from a net outflow of CNY 62.19 million in the previous year[57]. - The company reported a total revenue of 48,974.45 million with a net profit of 12,512.41 million, indicating a significant increase in performance compared to previous periods[73]. - The net profit for the first half of 2019 was CNY 7,630,397.41, a significant recovery from a net loss of CNY 55,602,956.40 in the same period of 2018[177]. - The company's total equity reached CNY 1,218,483,984.29, compared to CNY 1,207,257,344.42 in the previous year, reflecting a growth of approximately 0.9%[174]. Operational Challenges - The net cash flow from operating activities was negative at RMB 222.6 million, worsening from a negative RMB 62.19 million in the same period last year[22]. - Domestic sales revenue from pigs reached CNY 320.75 million, a decrease of 12.00% year-on-year, primarily due to lower sales volumes amid African swine fever impacts[50]. - The company’s export sales revenue from pigs was CNY 28.96 million, a significant decrease of 60.14% year-on-year, due to regulatory challenges related to African swine fever[52]. - The company faces a 10% mortality rate in pig farming, with a general survival rate of 90%, highlighting the risks associated with disease outbreaks[78]. - The African swine fever outbreak since August 2018 has had a profound impact on the pig farming industry, necessitating enhanced biosecurity measures[78]. - The company has a comprehensive disease prevention and control system in place, but faces challenges if outbreaks occur in surrounding areas[78]. Market and Industry Context - In the first half of 2019, national pig production decreased by 6.2%, with 313 million pigs slaughtered, and pork production fell by 5.5% to 24.7 million tons[32]. - As of late June 2019, the national pig inventory was 348 million, down 15.0% year-on-year, significantly impacting market supply and prices[32]. - The average price of live pigs reached 16.72 yuan per kilogram by the end of June 2019, reflecting a year-on-year increase of 46.5%[34]. - The company operates in the livestock industry, focusing on pig farming, meat sales, and feed processing, establishing a complete industrial chain from feed production to pig breeding and meat processing[26]. Strategic Initiatives - The company aims to build a "safe, nutritious, efficient, high-quality, low-consumption, green, and ecological" pig industry system[27]. - The company is actively expanding its market presence and product offerings, including fresh and frozen meat products through various sales channels[30]. - The company has established a comprehensive risk management system and a standardized process from pig sourcing to market delivery, enhancing its competitive edge[35]. - The company has invested in technology to enhance production efficiency, focusing on safety, nutrition, and environmental sustainability in its pig farming practices[39]. - The company is actively participating in the Guangdong-Hong Kong-Macao Greater Bay Area's "vegetable basket" initiative, establishing a wholly-owned subsidiary in Guangdong to enhance its market presence[46]. Environmental and Social Responsibility - The company has committed to a poverty alleviation plan that includes direct support for impoverished households, focusing on education, medical care, and housing safety[119]. - The company’s ecological pig farm project has achieved significant results in resource conservation and environmental protection, promoting sustainable development[114]. - The company has established a responsibility system for poverty alleviation, ensuring that support personnel are actively engaged with impoverished households[119]. - The company has implemented a modular breeding unit model in Fair Village, which is designed to ensure no wastewater discharge and resource recycling, aligning with the needs of industrial poverty alleviation[116]. Corporate Governance - The company has not disclosed any significant new product developments or market expansion strategies in this report[22]. - The company has not experienced any changes in its share capital structure during the reporting period[145]. - The company has confirmed the completion of the share transfer registration process with the China Securities Depository and Clearing Corporation Limited[153]. - The company has committed to maintaining operational independence from related parties and will not engage in any business that competes with its subsidiaries[94]. - The company has no significant litigation or arbitration matters during the reporting period[97].

2019 年第一季度报告 公司代码：600975 公司简称：新五丰 湖南新五丰股份有限公司 2019 年第一季度报告 1 / 23 2019 年第一季度报告 | --- | --- | --- | |-------|--------------|-------| | | | | | | | | | | | | | | 目录 | | | í | 重要提示 | | | in in | 公司基本情况 | | | | 重要事项 | | | 四、 | 附录 | | 2 / 23 2019 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人邱卫、主管会计工作负责人肖立新及会计机构负责人（会计主管人员）肖立新保 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 | --- | --- | --- | --- | |------------------ ...

Financial Performance - In 2018, the company's operating revenue reached CNY 2,041,039,866.32, an increase of 18.41% compared to CNY 1,723,720,756.85 in 2017[25] - The net profit attributable to shareholders of the listed company was a loss of CNY 35,838,303.86, a decrease of 179.80% from a profit of CNY 44,911,986.59 in 2017[25] - The net cash flow from operating activities was a negative CNY 51,163,217.45, a decline of 134.30% compared to CNY 149,142,991.49 in 2017[25] - The total assets at the end of 2018 were CNY 1,594,092,059.49, down 10.33% from CNY 1,777,786,368.97 at the end of 2017[25] - The net assets attributable to shareholders of the listed company decreased by 8.40% to CNY 1,102,301,958.11 from CNY 1,203,407,820.37 in 2017[25] - The basic earnings per share for 2018 was a loss of CNY 0.07, a decrease of 171.43% from CNY 0.07 in 2017[25] - The weighted average return on net assets was 3.70%, a decrease of 6.84 percentage points from 16.97% in 2016[25] - The company reported a total operating income of CNY 2,041,039,866.32, an increase of 18.41% compared to the previous year, while operating costs rose by 26.17% to CNY 1,971,840,131.37[65] - The company’s cash flow from operating activities showed a net outflow of CNY 51,163,217.45, a decline of 134.30% compared to the previous year[65] Operational Highlights - The company operates in the livestock industry, focusing on pig farming, meat sales, and feed processing, with a comprehensive supply chain from feed production to meat processing[32] - The company has established 13 self-owned and 17 leased pig farming bases, utilizing both self-raising and contracted farming models[33] - The slaughtering capacity is managed by a subsidiary, which can process 700,000 pigs annually and has a cold storage capacity of 40,000 tons[34] - The company operates a complete industrial chain from upstream raw material procurement, feed production, breeding, to downstream slaughtering, processing, and sales, demonstrating strong integration and risk resistance capabilities[42] - The company has established a cooperative production model with farmers, ensuring stable income for farmers while sharing risks[130] - The company’s fresh meat sales are conducted through various channels, including supermarkets and community stores[129] Market and Industry Context - In 2018, the total pork production in China was 54.04 million tons, with a year-end pig stock of 428.17 million heads and a total of 693.82 million pigs slaughtered[41] - The pig farming industry in China is characterized by low concentration and significant room for scale development, with pork consumption accounting for over 60% of total meat consumption[41] - The company is a key player in the live pig export market, primarily supplying Hong Kong and Macau, and is recognized as a national key leading enterprise in agricultural industrialization[41] - The company anticipates that brand recognition will become a key competitive advantage in the pork market, as consumer preferences shift towards high-quality, branded products[164] - The competitive landscape remains fragmented, with small-scale farmers still supplying nearly 60% of the market, highlighting opportunities for growth in large-scale operations[159] Risk Management and Compliance - The company has detailed potential risks in the report, advising investors to be cautious[8] - The company has implemented a comprehensive biosecurity management system to prevent cross-infection and ensure the health of its pig stock[44] - The company actively engaged in epidemic prevention measures against African swine fever, establishing a leadership group and implementing comprehensive biosecurity protocols[50] - The company has a well-established internal control system to mitigate operational risks, ensuring compliance with relevant laws and regulations[96] - The company has committed to avoiding or reducing related party transactions with its subsidiary, ensuring fairness and compliance[186] Strategic Initiatives - The company aims to enhance its standardized scale farming practices moving forward[36] - The company aims to achieve a pig output of over 1 million heads in 2019, laying a solid foundation for sustainable growth[55] - The company is exploring a modular pig farming model in rural areas to support poverty alleviation efforts in Hunan Province[58] - The company has invested significantly in environmental protection and green development, aligning with new national regulations[94] - The company will enhance its environmental management and increase investments in environmental protection measures to comply with stricter regulations[173] Financial Management - The company has renewed its wastewater discharge permit, which was set to expire during the reporting period[104] - The company has reported no significant changes in user data, indicating stable customer engagement during the reporting period[106] - The company has revised its cash dividend policy to ensure clarity and protect the rights of minority shareholders, with a cash dividend of 1.00 yuan per 10 shares for 2017[178] - The total cash dividend distributed for 2017 amounted to 65,267,558.40 yuan, based on a total share capital of 652,675,584 shares[179] - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits[182] Future Outlook - The company aims to become the largest and most distinctive pork industry listed company in Hunan, focusing on commodity pig breeding and sales, with a strategic emphasis on a full industry chain approach[165] - In 2019, the company plans to prioritize high-quality development, enhance the entire industry chain, and address African swine fever as a primary task[168] - The company is well-positioned to leverage policy support and market trends to enhance its operational capabilities and market presence[156]

Financial Performance - Net profit attributable to shareholders was CNY -43,453,727.31, a decline of 182.61% year-on-year[9] - Operating revenue for the first nine months was CNY 1,215,448,459.32, down 6.28% from the same period last year[9] - Basic earnings per share fell by 187.50% to CNY -0.07[9] - The company expects a net loss attributable to shareholders of CNY -45 million to -67.5 million for the year 2018, indicating a significant decline in performance compared to the previous year[18] - The decline in performance is primarily attributed to a drop in pig prices and the impact of the African swine fever outbreak in the fourth quarter[18] - Net profit for the first nine months of 2018 was approximately ¥1.22 billion, a decrease of 6.3% compared to ¥1.30 billion in the same period of 2017[29] - The net profit for Q3 2018 was approximately ¥12.71 million, compared to ¥6.69 million in Q3 2017, representing an increase of 90.29%[36] Assets and Liabilities - Total assets decreased by 8.35% to CNY 1,629,306,503.20 compared to the end of the previous year[9] - The total assets decreased from CNY 1,777,786,368.97 to CNY 1,629,306,503.20, reflecting a reduction in overall financial position[22] - The company's total liabilities decreased from CNY 508,150,873.70 to CNY 472,919,882.55, indicating improved debt management[23] - The company's equity attributable to shareholders decreased from CNY 1,203,407,820.37 to CNY 1,094,686,534.66, reflecting the impact of net losses on retained earnings[23] - Total assets decreased to approximately ¥1.47 billion from ¥1.58 billion, a decline of 6.9% year-over-year[27] - Total liabilities decreased slightly to approximately ¥278.81 million from ¥281.90 million, a decrease of 1.1%[27] - Shareholders' equity decreased to approximately ¥1.19 billion from ¥1.29 billion, reflecting a decline of 8.2% year-over-year[27] Cash Flow - The company reported a net cash flow from operating activities of CNY -66,709,350.21, a decrease of 140.42% year-on-year[9] - Operating cash flow for the period from January to September was negative at -66,709,350.21 RMB, compared to a positive cash flow of 165,048,108.46 RMB in the same period last year, indicating a significant decline[38] - Total cash inflow from operating activities was 1,415,456,073.09 RMB, slightly down from 1,432,587,595.31 RMB year-on-year[38] - Cash outflow from operating activities increased to 1,482,165,423.30 RMB, compared to 1,267,539,486.85 RMB in the previous year, reflecting a rise of approximately 16.9%[38] - Cash and cash equivalents decreased by 47.30% from CNY 545,976,091.97 to CNY 287,744,130.29 due to repayment of bank loans[16] - Cash inflow from investment activities totaled 289,674,084.56 RMB, significantly higher than 109,383,894.01 RMB in the previous year, marking an increase of approximately 164.5%[39] - Cash outflow from investment activities decreased to 40,826,923.59 RMB from 425,086,498.19 RMB year-on-year, indicating a reduction of about 90.4%[39] - The company experienced a net increase in cash and cash equivalents of 15,168,038.32 RMB, contrasting with a net decrease of -307,250,744.23 RMB in the same period last year[39] Shareholder Information - The number of shareholders reached 59,427 as of the report date[12] - The largest shareholder, Hunan Grain and Oil Food Import and Export Group Co., Ltd., holds 30.95% of shares[12] - Hunan High-tech Venture Capital Wealth Management Co., Ltd. has 15.96% of shares, with 81,360,000 shares under judicial freeze[14] Operating Costs and Revenue - Total operating revenue for Q3 2018 was approximately ¥468.78 million, an increase of 8.0% compared to ¥432.88 million in Q3 2017[29] - Total operating costs for Q3 2018 were approximately ¥463.11 million, up from ¥428.16 million in Q3 2017, reflecting a year-over-year increase of 8.2%[30] - The company's operating revenue for Q3 2018 was approximately ¥291.73 million, an increase of 13.39% compared to ¥257.32 million in Q3 2017[35] - The total operating profit for Q3 2018 was approximately ¥14.98 million, compared to ¥7.38 million in Q3 2017, representing an increase of 102.16%[35] Other Income and Expenses - Non-operating income from government subsidies amounted to CNY 8,212,875.80 for the year-to-date[9] - The company reported a significant increase in other income, totaling approximately ¥13.04 million for the first nine months of 2018, compared to ¥11.03 million in the same period of 2017[30] - The company experienced a significant increase in other income, totaling approximately ¥1.82 million in Q3 2018, compared to ¥2.18 million in Q3 2017[35] - Research and development expenses for the first nine months of 2018 were approximately ¥1.47 million, a decrease of 4.0% compared to ¥1.53 million in the same period of 2017[30] - Research and development expenses for Q3 2018 were approximately ¥446.48 million, compared to ¥304.75 million in Q3 2017, reflecting an increase of 46.49%[35] - The company reported a decrease in financial expenses, with a net financial income of approximately ¥1.16 million in Q3 2018, compared to a net expense of ¥3.03 million in Q3 2017[35]

2018 年半年度报告 公司代码：600975 公司简称：新五丰 湖南新五丰股份有限公司 2018 年半年度报告 1 / 135 2018 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人邱卫、主管会计工作负责人肖立新及会计机构负责人（会计主管人员）肖立新声 明：保证半年度报告中财务报告的真实、准确、完整。 九、 重大风险提示 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本半年度报告内容中涉及的未来计划、发展战略等前瞻性陈述因存在不确定性，不构成公司 对投资者的实质承诺，请投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 公司已在本报告中详细描述可能存在的相关风险，敬请查阅本报告第四节经营情况讨论与分 析之可能面对的风险因素及对策部分的内容 ...

2018 年第一季度报告 公司代码：600975 公司简称：新五丰 湖南新五丰股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 2018 年第一季度报告 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | -18,825.32 | | | 计入当期损益的政府补助，但与公司正常经营业务密切相 | 1,238,809.66 | | | 关，符合国家政策规定、按照一定标准定额或定量持续享 | | | | 受的政府补助除外 | | | | 委托他人投资或管理资产的损益 | 22,904.50 | | 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人邱卫、主管会计工作负 ...

Financial Performance - The company's operating revenue for 2017 was CNY 1,723,720,756, representing a year-on-year increase of 1.91% compared to CNY 1,691,374,321 in 2016[24]. - The net profit attributable to shareholders of the listed company for 2017 was CNY 44,911,986.5, a decrease of 77.16% from CNY 196,621,129.71 in 2016[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 33,523,868.1, down 82.17% from CNY 188,013,789.17 in the previous year[24]. - Basic earnings per share decreased by 76.67% to CNY 0.07 in 2017 compared to CNY 0.30 in 2016[26]. - Weighted average return on equity fell by 13.27 percentage points to 3.70% in 2017 from 16.97% in 2016[26]. - Total profit amounted to CNY 43.63 million, a decline of 74.75% compared to the previous year[49]. - Net profit attributable to the parent company was CNY 44.91 million, down 77.16% year-on-year[49]. - The company reported a total revenue of 3,075 million for the year, with a decrease of 224.85 million compared to the previous year[109]. Cash Flow and Dividends - The net cash flow from operating activities was CNY 143,118,691.49, an increase of 3.99% compared to CNY 137,631,260.63 in 2016[24]. - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling CNY 65,267,558.40, based on the total share capital of 652,675,584 shares[7]. - In 2017, the cash dividend payout ratio was 145.32% of the net profit attributable to shareholders, with a total cash dividend of 65,267,558.40 RMB[124]. - The cash dividend for 2016 was 1.00 RMB per 10 shares, consistent with the previous year, indicating stable dividend policy[124]. - The company did not propose a cash profit distribution plan for the reporting period despite having positive distributable profits[125]. Operational Overview - The company operates a full industry chain in pig farming, including feed production, breeding, and meat processing[34]. - The company has established 13 large-scale breeding bases for pig farming[35]. - The slaughtering capacity is 700,000 pigs per year, with a cold storage capacity of 40,000 tons[36]. - The company primarily sells pigs through designated agents in Hong Kong and Macau, as well as through online platforms for domestic sales[37]. - The company has established a complete industrial chain from upstream raw material procurement to downstream sales, enhancing its risk resistance and regional competitiveness[41]. Market and Industry Context - The pig farming industry in China remains fragmented with low production concentration and a lack of pricing power among leading enterprises[37]. - In 2017, pork consumption accounted for over 60% of total meat consumption in China, with pork production reaching 53.4 million tons, a growth of 0.8%[38]. - The company aims to increase the proportion of large-scale pig farming (over 500 pigs per year) from 41.8% in 2014 to 52% by 2020[38]. - The company is a key player in the agricultural industry, being a major live pig exporter to Hong Kong and Macau[40]. Risk Management and Compliance - The company has identified potential risks in its operations, which are detailed in the report[10]. - The company emphasizes that forward-looking statements in the report are subject to uncertainties and do not constitute a commitment to investors[8]. - The company has committed to maintaining independence in operations and financial matters from its controlling shareholder, ensuring compliance with regulatory requirements[127]. - The company has committed to avoiding or reducing related party transactions with its controlling shareholder and its subsidiaries[126]. Environmental and Social Responsibility - The company has a focus on environmental protection, aligning with stricter regulations and investing in green development[71]. - The company has committed to environmental protection, with wastewater discharge from its subsidiaries meeting national standards, including COD levels of 55 mg/L and BOD levels of 25 mg/L[157][158]. - The company has successfully completed its poverty alleviation tasks in Tangjiaba Village, achieving stable poverty alleviation for the population by the end of 2017[153]. - The company has received an "excellent" rating for its three-year poverty alleviation efforts from the provincial assessment team[154]. Strategic Initiatives - The company plans to expand its breeding scale through a light-asset model, with an expected increase of 27,300 sows from leasing agreements[46]. - The company is enhancing its information technology management to improve efficiency and reduce operational costs[49]. - The company is actively pursuing vertical integration through self-built capacities and strategic partnerships to mitigate market volatility risks[114]. - The company plans to implement a comprehensive strategy combining upstream and downstream operations, emphasizing cold chain logistics and meat processing[116]. Shareholder Structure and Governance - The total number of ordinary shareholders increased to 62,502 by the end of the reporting period, up from 60,685 at the end of the previous month, representing a growth of approximately 2.68%[166]. - The top shareholder, Hunan Grain and Oil Import and Export Group Co., Ltd., holds 202,018,546 shares, accounting for 30.9% of the total shares, with a decrease of 5,000,000 shares during the reporting period[168]. - The company has a total of 149,935,212 unrestricted circulating shares held by Hunan Grain and Oil Import and Export Group Co., Ltd.[169]. - The company has not reported any significant changes in accounting policies that would materially affect its financial results for the reporting period[135]. Management and Employee Overview - The company has a diverse management team with extensive experience in various sectors, including food import and export, logistics, and international trade[186]. - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 425.24 million CNY[186]. - The company has implemented a tiered compensation policy for employees, with different structures for general staff, middle management, and senior management[195]. - The company has a total of 1,381 employees, with 899 in the parent company and 482 in major subsidiaries[194].