Financial Performance - The company's operating revenue for Q3 2022 was ¥2,859,482,943.17, a decrease of 0.66% compared to ¥2,878,548,936.39 in the same period last year[7]. - Net profit attributable to shareholders was ¥255,945,134.92, representing an increase of 18.37% from ¥216,218,835.93 year-on-year[7]. - The net profit after deducting non-recurring gains and losses was ¥208,266,901.32, up 36.38% from ¥152,714,016.56 in the previous year[7]. - The basic earnings per share for the quarter was ¥0.19, an increase of 18.37% compared to ¥0.16 in the same period last year[7]. - Total operating revenue for the first three quarters of 2022 reached ¥9,009,243,634.58, an increase from ¥7,768,502,651.21 in the same period of 2021, representing a growth of approximately 15.93%[35]. - The net profit for the current period is CNY 640,029,682.58, an increase of 10.06% compared to CNY 581,441,578.14 in the previous period[39]. - The total profit for the current period is CNY 682,844,778.39, up from CNY 618,971,939.24, reflecting a growth of 10.31%[39]. - The operating profit increased to CNY 686,223,345.02, compared to CNY 617,289,094.31, marking a rise of 11.16%[39]. - The basic earnings per share for the current period is CNY 0.44, compared to CNY 0.40 in the previous period, representing a growth of 10%[41]. - The company reported a total revenue from sales of CNY 9,615,196,090.53, an increase from CNY 8,768,702,056.55 in the previous period, representing a growth of 9.65%[44]. Assets and Liabilities - The total assets at the end of the reporting period were ¥14,455,422,545.99, a decrease of 2.38% from ¥14,808,487,214.91 at the end of the previous year[9]. - Current liabilities totaled ¥2,785,027,198.47, down from ¥3,228,534,451.09, showing a reduction of approximately 13.78%[33]. - Non-current liabilities increased slightly from ¥5,213,341,672.34 to ¥5,213,341,672.34, indicating a stable position in long-term obligations[33]. - The company's total equity rose from ¥6,406,086,139.08 to ¥6,457,053,675.18, an increase of about 0.80%[33]. - The company reported a significant increase in accounts receivable, amounting to 828,201,390.24 RMB, compared to 478,039,636.67 RMB at the end of the previous year[26]. - The company's cash and cash equivalents stood at 890,474,977.77 RMB, a decrease from 915,465,966.42 RMB at the end of the previous year[26]. - The trading financial assets decreased to 1,177,500,000.00 RMB from 2,261,250,892.09 RMB year-on-year[26]. Cash Flow - The net cash flow from operating activities was negative at -¥108,512,347.40, a significant decline compared to positive cash flow of ¥206,003,783.18 in the same period last year, marking a decrease of 152.67%[7]. - Cash flow from operating activities shows a net outflow of CNY -108,512,347.40, contrasting with a net inflow of CNY 206,003,783.18 in the previous period[44]. - Cash flow from investing activities generated a net inflow of CNY 721,890,592.90, compared to CNY 359,914,655.24 in the previous period, indicating an increase of 100.53%[44]. - Cash flow from financing activities resulted in a net outflow of CNY -638,369,234.15, slightly higher than the previous period's outflow of CNY -618,163,081.77[46]. Operational Metrics - The production volume of self-produced wheat decreased by 1.53%, while sales volume increased by 16.90% compared to the same period last year[19]. - The sales volume of rice increased by 72.64% year-on-year, with a production volume of 20.77 million tons[19]. - The sales volume of edible oil decreased by 11.58%, with a significant decline in inventory levels by 44.20% compared to the previous year[19]. - Research and development expenses for the first three quarters of 2022 amounted to ¥53,592,367.82, up from ¥43,181,021.00 in 2021, reflecting a growth of approximately 24.06%[35]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 59,118, with the largest shareholder holding 67.84% of the shares[22]. - The company has not identified any related party relationships among the top shareholders[24].

Financial Performance - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching 1.2 billion RMB, representing a 15% year-over-year growth[17]. - The company's operating revenue for the first half of 2022 reached ¥6,149,760,691.41, representing a 25.76% increase compared to ¥4,889,953,714.82 in the same period last year[22]. - The net profit attributable to shareholders was ¥347,763,439.45, a 5.92% increase from ¥328,319,026.76 in the previous year[22]. - The net profit for the first half of 2022 was CNY 376,245,050.12, compared to CNY 355,223,605.27 in the same period of 2021, reflecting a growth of approximately 5.1%[155]. - The total comprehensive income for the period reached ¥376,245,050.12, an increase from ¥355,223,605.27 in the previous period, representing a growth of approximately 3.4%[157]. - The company's cash and cash equivalents at the end of the period amounted to ¥1,367,495,499.45, representing 9.21% of total assets, a 49.38% increase from the previous year[53]. - The total assets of the company at the end of the reporting period were ¥14,853,344,484.07, a slight increase of 0.30% from ¥14,808,487,214.91 at the end of the previous year[22]. - The total liabilities reached ¥8,655,589,661.92, compared to ¥8,402,401,075.83, reflecting an increase of about 3.0%[144]. Market and User Growth - User data indicates that the number of active users increased by 20% compared to the same period last year, reaching 500,000 active users[17]. - The company has provided a positive outlook for the second half of 2022, projecting a revenue growth of 10% to 12%[17]. - Market expansion plans include entering two new provinces, which are projected to increase market share by 5%[17]. - The company continues to focus on expanding its market presence and enhancing product offerings through strategic initiatives[22]. Product Development and Innovation - New product launches are expected to contribute an additional 200 million RMB in revenue by the end of 2022[17]. - The company is investing 50 million RMB in research and development for new agricultural technologies aimed at improving crop yields[17]. - The company is focusing on agricultural technology innovation to improve productivity and efficiency in grain production, aligning with national policies promoting industrialization and standardization[32]. - The company has developed over 180 high-end rice products, including selenium-enriched and organic rice, and has launched 60+ varieties of edible oil products[42]. Sustainability and Environmental Initiatives - The management highlighted the importance of sustainability initiatives, aiming to reduce carbon emissions by 30% by 2025[17]. - The company has implemented measures to reduce carbon emissions, including optimizing water and fertilizer management, and increasing organic fertilizer application[87]. - The company has established an agricultural environment and product quality testing center to enhance monitoring and management[83]. - The company has actively engaged in environmental remediation and pollution prevention initiatives at its planting bases[86]. Challenges and Risks - Risk factors include potential fluctuations in commodity prices, which could impact profit margins in the upcoming quarters[17]. - The agricultural industry faces significant challenges due to high production costs and fluctuating international grain prices, with rice prices slightly declining due to weak demand and high inventory levels[29]. - The company is navigating a challenging environment marked by inflationary pressures and geopolitical conflicts affecting commodity prices, impacting overall profitability[34]. - The company faces significant risks from natural disasters affecting crop yields, which could severely impact operational performance[67]. Financial Management and Investments - The net cash flow from operating activities was negative at ¥-785,565,278.92, worsening from ¥-277,615,529.98 in the same period last year[22]. - The company completed fixed asset investments totaling ¥169 million in the first half of the year, enhancing disaster resistance and harvest capacity through infrastructure improvements[52]. - The company has established a comprehensive supply chain with a direct procurement ratio of 60%, ensuring efficient internal supply[49]. - The company has completed several fundraising projects, but some are delayed due to COVID-19 and bureaucratic challenges, posing risks to expected returns[70]. Corporate Governance and Shareholder Information - The total number of ordinary shareholders reached 58,628 by the end of the reporting period[127]. - Jiangsu Agricultural Reclamation Group Co., Ltd. holds 934,896,426 shares, accounting for 67.84% of the total shares[128]. - The company did not propose any profit distribution or capital reserve transfer for the reporting period[79]. - There were significant changes in the board of directors and management, with multiple elections and appointments occurring[76].

Financial Performance - The company's operating revenue for Q1 2022 was ¥2,409,171,029.72, representing a year-on-year increase of 31.42%[6] - The net profit attributable to shareholders was ¥133,589,243.22, reflecting a growth of 15.04% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥107,064,721.21, an increase of 10.49% year-on-year[6] - The basic earnings per share for the period was ¥0.10, up by 25.00% from the previous year[6] - Total operating revenue for Q1 2022 reached ¥2,409,171,029.72, a 31.3% increase from ¥1,833,231,606.61 in Q1 2021[30] - Net profit for Q1 2022 was ¥145,143,805.66, representing a 14% increase compared to ¥127,419,059.25 in Q1 2021[32] - Earnings per share for Q1 2022 were ¥0.10, compared to ¥0.08 in Q1 2021[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,800,726,974.04, a decrease of 2.12% from the end of the previous year[8] - Total liabilities decreased to ¥7,439,624,884.83 in Q1 2022 from ¥7,883,037,102.26 in Q1 2021, a reduction of approximately 5.6%[28] - Total equity increased to ¥6,361,102,089.21 in Q1 2022 from ¥6,215,958,283.55 in Q1 2021, reflecting a growth of about 2.3%[28] - The company's total assets amounted to ¥13,800,726,974.04 in Q1 2022, compared to ¥14,098,995,385.81 in Q1 2021, indicating a decrease of approximately 2.1%[28] Cash Flow - The company reported a net cash flow from operating activities of -¥73,142,680.10, which is not applicable for year-on-year comparison[6] - Cash inflow from operating activities for Q1 2022 was $2,435,228,591.20, an increase of 22.5% compared to $1,987,524,097.39 in Q1 2021[34] - Net cash outflow from operating activities for Q1 2022 was -$73,142,680.10, improving from -$348,489,872.22 in Q1 2021[34] - Cash inflow from investing activities totaled $2,534,940,663.58 in Q1 2022, compared to $1,981,784,288.34 in Q1 2021, marking a 28% increase[34] - Cash outflow for capital expenditures in Q1 2022 was $2,244,884,902.36, up from $2,013,397,068.15 in Q1 2021[34] - Net cash flow from financing activities for Q1 2022 was -$119,116,255.45, a decline from a positive $4,697,525.90 in Q1 2021[36] Sales Performance - The sales volume of self-produced wheat was 6.13 million tons, with a year-on-year increase of 5.48%[12] - The sales volume of rice reached 7.37 million tons, showing a significant increase of 125.91% year-on-year[12] - The company experienced a decrease in the sales volume of externally sourced wheat by 25.12% year-on-year, totaling 6.28 million tons[12] Assets Management - The company's cash and cash equivalents increased to approximately ¥986.95 million from ¥889.15 million, representing a growth of about 11.93%[22] - Accounts receivable rose to approximately ¥422.21 million, up from ¥304.05 million, indicating an increase of approximately 38.93%[22] - Inventory decreased to approximately ¥3.06 billion from ¥3.45 billion, showing a decline of about 11.34%[22] - Current liabilities totaled approximately ¥2.05 billion, compared to ¥2.06 billion in the previous period, reflecting a slight decrease of about 0.49%[25] - The company's short-term borrowings increased to approximately ¥264.46 million from ¥195.86 million, marking an increase of about 35.05%[25] - The total current assets amounted to approximately ¥7.39 billion, down from ¥7.60 billion, indicating a decrease of about 2.77%[25] - The company reported a significant increase in prepayments, which rose to approximately ¥762.46 million from ¥410.78 million, reflecting an increase of about 85.61%[22] - The company's long-term equity investments remained stable at approximately ¥2.11 million, unchanged from the previous period[25] Shareholder Information - The company has no significant changes in shareholder structure, with the largest shareholder holding 67.84% of the shares[16] Research and Development - Research and development expenses for Q1 2022 were ¥15,040,613.13, an increase from ¥12,198,547.30 in Q1 2021[30] Financial Expenses - The company reported a financial expense of ¥57,623,736.53 in Q1 2022, down from ¥67,428,413.72 in Q1 2021[30] - Deferred income tax liabilities were ¥24,408,217.87 in Q1 2022, slightly down from ¥24,825,673.80 in Q1 2021[28]

Financial Performance - The company's operating revenue for 2021 was CNY 10,639,526,240.88, representing a 23.43% increase compared to CNY 8,620,080,031.28 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 737,049,233.23, a 10.06% increase from CNY 669,700,032.92 in 2020[20]. - The net cash flow from operating activities for 2021 was CNY 1,021,897,454.40, showing a 32.75% increase from CNY 769,819,659.44 in 2020[20]. - The total assets at the end of 2021 were CNY 14,098,995,385.81, a 62.61% increase from CNY 8,670,455,459.46 at the end of 2020[20]. - The basic earnings per share for 2021 was CNY 0.53, an increase of 8.16% compared to CNY 0.49 in 2020[20]. - The company achieved a consolidated revenue of 10.64 billion RMB and a net profit attributable to shareholders of 737 million RMB for the reporting period[30]. - The company reported a total of 787.27 million RMB in agricultural infrastructure investments, adding 55,000 mu of high-standard farmland[30]. - The company achieved a consolidated operating revenue of 10.64 billion RMB, an increase of 23.43% compared to the previous year[48]. - The consolidated net profit attributable to shareholders reached 737 million RMB, reflecting a growth of 10.06% year-on-year[48]. - The total assets of the company at the end of the reporting period amounted to 14.10 billion RMB, up 4.33% from the beginning of the year[48]. Dividend Distribution - The company plans to distribute a cash dividend of 2.4 RMB per 10 shares, totaling 330,720,000 RMB (including tax) based on a total share capital of 1,378,000,000 shares as of the end of 2021[4]. - The company distributed a cash dividend of 2.1 RMB per 10 shares, totaling 289,380,000 RMB, which represents 43.21% of the net profit attributable to shareholders for the year[155]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Certified Public Accountants[4]. - The board of directors and senior management have confirmed the accuracy and completeness of the annual report[4]. - The company has established a transparent performance evaluation system for its management team, promoting accountability and effective management practices[111]. - The company emphasizes compliance management to enhance operational efficiency and safety[101]. - The company has a complete and independent financial accounting system, allowing for autonomous financial decision-making and compliance with relevant accounting standards[112]. Agricultural Operations and Strategy - The company emphasizes the importance of agricultural support protection subsidies to promote grain production and increase farmers' income[10]. - The company has a focus on expanding its agricultural production and management practices, including land transfer and management models[10]. - The company is committed to developing new crop varieties through breeding and seed production[10]. - The company has outlined its strategic plans for market expansion and potential mergers and acquisitions in the agricultural sector[10]. - The company operates in the agriculture sector, specifically in grain planting (A011), rice processing (C1311), edible oil processing (C1311), and agricultural materials trading (F5166 and F5167)[33]. - The company aims to enhance its agricultural social services through agricultural materials trading, supporting modern agricultural practices and new agricultural business entities[36]. - The company has established a comprehensive agricultural product quality traceability system since 2008, ensuring full traceability from planting to processing[41]. - The company has established deep research collaborations with several universities and research institutions, enhancing its technological capabilities[44]. Market and Competitive Landscape - The rice processing industry is characterized by small and scattered enterprises, with a trend towards scale, branding, and industrialization due to overcapacity and intense competition[36]. - The edible oil processing industry has experienced severe overcapacity since 2011, with the top 15 companies accounting for approximately 85% of total capacity[36]. - The competitive landscape in the rice processing industry is marked by intense regional competition, particularly in East China, where major players are vying for market share[36]. - The company is facing dual pressures of transformation and intense competition due to rising agricultural costs and external market challenges[79]. Research and Development - The company has obtained a total of 4 invention patents, 29 utility model patents, and 1 design patent, with a focus on agricultural technology innovation and research[44]. - Research and development expenses rose by 35.93% to 65.29 million RMB, driven by increased investment in R&D resources[51]. - The total R&D expenditure was 65,286,617.47 CNY, representing 0.61% of total revenue[68]. - The number of R&D personnel was 184, making up 1.86% of the total workforce[69]. Risk Management - The company faces risks from natural disasters that could significantly impact crop yields and quality[102]. - The company is exposed to product quality risks that could harm its brand image and lead to economic liabilities[104]. - Changes in tax incentives could adversely affect the company's financial performance[102]. - The company is at risk of not meeting expectations for the use of raised funds due to changes in market conditions and project feasibility[102]. Governance and Management - The company held one annual and one extraordinary shareholders' meeting during the reporting period, ensuring full communication and transparency with shareholders, especially minority shareholders[108]. - The board of directors consists of three independent directors, accounting for one-third of the total board, who actively participate in training and discussions on major company matters[108]. - The company has a diverse leadership team with members holding positions in multiple organizations, enhancing its strategic influence[5]. - The company has maintained continuity in its leadership roles while integrating new members to adapt to market changes[5]. Land Management - The company has contracted a total of 955,231 acres of land with an annual fee of 361.64 RMB per acre as of February 18, 2022[80]. - The company has expanded its land transfer area to approximately 250,200 acres since 2013, collaborating with local governments and farmers[80]. - The company manages a total of 1.33 million acres of agricultural land under various contracts, with no reported income from these management agreements[182]. Environmental and Social Responsibility - The company has actively engaged in environmental protection measures, with no administrative penalties reported during the reporting period[160]. - The company has engaged in a rural revitalization initiative, impacting 319,900 acres of farmland and selling 1,898.2 tons of quality seeds[165]. - The company has established a soil restoration technology research initiative to improve soil fertility[163].

证券代码：601952 证券简称：苏垦农发 公告编号：2022-010 江苏省农垦农业发展股份有限公司 | --- | --- | |----------------------------------------------------------------------|-------| | 关于接待机构调研情况的公告 | | | 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。 | | 江苏省农垦农业发展股份有限公司（以下简称"公司"）近期通过电话会议 交流形式接待了机构调研，现将相关情况公告如下： 一、调研情况 1、会议时间：2022年2月23日、3月7日、3月16日 2、调研方式：电话会议交流 3、调研机构名称：中泰证券、中信证券、东方证券、易方达基金、嘉实基 金、泰达宏利基金、南方基金、华泰柏瑞基金、平安养老基金、富国基金、兴全 基金、国华人寿、万家基金、国泰基金、西部利得基金、明世伙伴、善道投资、 理臻投资、星石投资、融通基金、坤易投资、菁菁投资、天虫资本、中银资管、 西安瀑布资产管理有限公司、泰 ...

Financial Performance - The company's operating revenue for Q3 2021 was approximately CNY 2.70 billion, representing a year-on-year increase of 48.35%[7] - The net profit attributable to shareholders for the same period was approximately CNY 213.51 million, an increase of 7.63% compared to the previous year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 150.97 million, showing a decrease of 4.71% year-on-year[7] - The net profit for Q3 2021 was CNY 579,231,682.94, an increase from CNY 548,097,063.77 in Q3 2020, representing a growth of approximately 5.2%[38] - The total operating profit for Q3 2021 reached CNY 616,431,691.28, compared to CNY 568,532,312.15 in the same period last year, indicating an increase of about 8.4%[38] - The total revenue from sales of goods and services for the first three quarters of 2021 was CNY 8,242,246,700.83, up from CNY 6,579,544,343.68 in the same period of 2020, reflecting a growth of about 25.3%[42] - The basic earnings per share for Q3 2021 was CNY 0.39, compared to CNY 0.38 in Q3 2020, showing a slight increase of 2.6%[38] - The total comprehensive income for Q3 2021 was CNY 579,231,682.94, an increase from CNY 548,097,063.77 in Q3 2020, representing a growth of approximately 5.7%[38] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was approximately CNY 160.00 million, reflecting a significant increase of 157.72%[7] - Cash flow from operating activities for the first three quarters of 2021 was CNY 159,998,883.13, significantly higher than CNY 62,081,892.25 in the previous year, marking an increase of approximately 158.5%[42] - The company's cash and cash equivalents amounted to approximately ¥920.26 million as of September 30, 2021, down from ¥952.74 million at the end of 2020[26] - The cash and cash equivalents at the end of Q3 2021 amounted to CNY 915,783,600.02, down from CNY 633,669,248.33 at the end of Q3 2020, indicating a decrease of about 44.5%[45] - The net cash flow from investing activities for Q3 2021 was CNY 368,978,462.73, compared to CNY 209,595,993.61 in Q3 2020, reflecting an increase of approximately 76.2%[45] - The total cash outflow from financing activities in Q3 2021 was CNY 1,044,129,571.18, compared to CNY 501,686,374.54 in the same period last year, indicating an increase of about 108.1%[45] Assets and Liabilities - The total assets at the end of the reporting period amounted to approximately CNY 14.07 billion, an increase of 62.22% compared to the end of the previous year[11] - The total assets of the company as of the reporting date were CNY 14,065,216,210.27, significantly higher than CNY 8,670,455,459.46 from the previous year[35] - Total liabilities increased to CNY 8,067,290,884.10 from CNY 1,989,893,124.90, showing a substantial rise[35] - The company's total equity attributable to shareholders decreased to CNY 5,571,242,125.74 from CNY 6,301,366,149.58, a decline of approximately 11.6%[33] - The total liabilities to equity ratio stands at approximately 1.35, indicating a higher leverage compared to the previous year[35] Inventory and Production - The production volume of self-produced wheat decreased by 4.30% year-on-year, while sales volume decreased by 2.40%[18] - The sales volume of externally sourced wheat increased significantly by 143.40% year-on-year, with inventory up by 67.57%[18] - The sales volume of rice dropped by 39.85% year-on-year, while inventory increased by 16.01%[18] - The production volume of rice seeds increased by 9.34% year-on-year, with sales volume up by 7.77%[18] - The sales volume of edible oil decreased by 17.25% year-on-year, despite a significant inventory increase of 54.32%[18] Shareholder Information - As of September 30, 2021, the total number of common shareholders was 68,033, with Jiangsu Agricultural Reclamation Group holding 67.84% of shares[22] - The company has not identified any related party relationships or concerted actions among the top shareholders[24] Expenses - Total operating costs for the first three quarters of 2021 were CNY 6,856,124,685.91, compared to CNY 5,511,057,510.99 in 2020, indicating an increase of about 24.4%[37] - Research and development expenses amounted to CNY 41,284,589.76 in the first three quarters of 2021, up from CNY 36,125,759.31 in 2020, reflecting a growth of approximately 14.0%[37]

Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2021, representing a year-on-year increase of 15%[17]. - The net profit attributable to shareholders reached 200 million CNY, up 10% compared to the same period last year[17]. - The company's operating revenue for the first half of the year reached ¥4,544,138,043.49, an increase of 11.75% compared to the same period last year[24]. - Net profit attributable to shareholders was ¥328,813,242.47, reflecting a slight increase of 1.46% year-over-year[24]. - The company achieved a consolidated revenue of CNY 4.544 billion, representing an increase of 11.75% compared to the same period last year[54]. - The net profit attributable to shareholders was CNY 329 million during the reporting period[54]. - The company reported a net profit of CNY 262,546,810.75 for the first half of 2021, compared to a net profit of CNY 236,352,895.01 in the same period of 2020, reflecting a growth of 11.0%[138]. - The company's net profit for the current period is CNY 355,717,820.98, an increase from CNY 337,798,187.13 in the previous period, representing a growth of approximately 5.4%[142]. User Growth and Market Expansion - The company expanded its user base by 25%, reaching a total of 500,000 active users in the first half of 2021[17]. - Future outlook indicates a projected revenue growth of 20% for the second half of 2021, driven by new product launches and market expansion strategies[17]. - Market expansion efforts include entering two new provinces, which are expected to contribute an additional 150 million CNY in revenue by the end of 2021[17]. - A new product line of organic fertilizers is set to launch in Q3 2021, anticipated to increase market share by 5%[17]. - The company expanded its market presence, with rice production increasing by 6.14% year-on-year[50]. Research and Development - The company is investing 100 million CNY in R&D for new agricultural technologies aimed at improving crop yields and sustainability[17]. - Research and development expenses rose by 12.03% to CNY 26.05 million, reflecting a commitment to innovation[54]. - The company has a strong focus on agricultural technology innovation, collaborating with universities and research institutions to enhance its modern agricultural technology level[42]. - The company has obtained a total of 3 invention patents and 22 utility model patents, with 54 major crop varieties developed and approved by Dahua Seed Industry, and 160+ rice product series developed by Sukang Rice Industry[42]. Financial Position and Cash Flow - The net cash flow from operating activities decreased significantly to -¥239,458,191.31, a decline of 354.04% compared to the previous year[24]. - The company reported a significant increase in cash flow from investment activities, totaling CNY 627.44 million, up 199.11% from the previous year[54]. - Cash inflow from operating activities totaled CNY 5,410,728,506.58, an increase of 16.6% from CNY 4,638,671,869.08 in the previous year[152]. - Cash outflow from operating activities was CNY 5,650,186,697.89, up 24.5% from CNY 4,544,410,124.09 in the previous year[152]. - The ending balance of cash and cash equivalents was CNY 1,101,922,181.94, up from CNY 773,495,414.79 in the previous year[155]. Challenges and Risks - Risk factors include potential fluctuations in raw material prices and regulatory changes affecting agricultural subsidies[17]. - The company has faced challenges due to international market price fluctuations for agricultural inputs, leading to increased production costs[33]. - The company is exposed to natural disaster risks that could severely impact production and quality, potentially affecting overall business performance[70]. - The company has raised concerns regarding the potential impact of changes in agricultural support subsidies on profitability[73]. Operational Efficiency and Quality Control - The company has implemented cost control measures that are expected to reduce operational expenses by 8% in the next quarter[17]. - The company emphasizes product quality control and food safety, implementing a comprehensive agricultural product quality safety control system[41]. - The company has achieved a 100% coverage of quality control area for its own agricultural products, with 16.81 million tons of certified green products produced[83]. - The company has established a standardized and systematic product production system, enhancing the quality management of its entire industry chain[41]. Corporate Governance and Shareholder Information - The company has experienced management changes, including the resignation of the chairman of the supervisory board due to work-related reasons[77]. - The total number of ordinary shareholders reached 70,465 by the end of the reporting period[116]. - Jiangsu Agricultural Reclamation Group Co., Ltd. holds 67.84% of the company's shares, maintaining its position as the largest shareholder[116]. - The company has not reported any changes in its total share capital or share structure during the reporting period[114]. Environmental and Social Responsibility - The company has successfully promoted the application of green pest control technology and increased organic fertilizer usage, contributing to improved soil fertility[83]. - The company has created 92.86 million mu of green base area approved by the China Green Development Center[83]. - The company has conducted over 50 training sessions for farmers, benefiting 2,241 individuals[87]. - The company has implemented measures to reduce carbon emissions, including optimizing crop water and fertilizer management and using low-carbon farming equipment[86].

Financial Performance - Operating revenue rose by 34.43% to CNY 1.83 billion year-on-year[11] - Net profit attributable to shareholders increased by 16.66% to CNY 116.13 million compared to the same period last year[11] - Basic earnings per share increased by 14.29% to CNY 0.08[11] - The company's net profit attributable to minority shareholders increased by 85.84% year-on-year, reaching CNY 11,291,611.32[24] - The total profit for the first quarter of 2021 was 141,337,303.95 CNY, compared to 113,974,274.53 CNY in the same period of 2020, representing an increase of approximately 23.9%[50] - The net profit attributable to shareholders of the parent company for Q1 2021 was 116,127,447.93 CNY, up from 99,543,283.78 CNY in Q1 2020, reflecting a growth of about 16.6%[50] - The company's net profit margin improvement, with net profit for Q1 2021 reflecting a positive trend compared to the previous year[48] Assets and Liabilities - Total assets increased by 55.90% to CNY 13.52 billion compared to the end of the previous year[11] - Total liabilities were ¥7.69 billion, compared to ¥1.99 billion at the end of 2020, marking an increase of approximately 285.4%[38] - Total liabilities increased to ¥7,080,796,969.31 from ¥1,494,806,247.25, indicating a substantial rise in financial obligations[44] - Total assets as of the reporting date were ¥11,815,083,025.93, significantly higher than ¥7,159,436,317.02 from the previous year[44] - Total liabilities amounted to approximately $1.49 billion, a decrease of about $5.77 billion compared to the previous period[76] Cash Flow - Net cash flow from operating activities decreased by 578.38% to -CNY 348.49 million[11] - The cash inflow from operating activities for Q1 2021 was 1,987,524,097.39 CNY, up from 1,545,438,810.60 CNY in Q1 2020, indicating an increase of about 28.6%[56] - The cash flow from financing activities showed a net increase of 4,697,525.90, compared to 62,419,885.31 in the previous year, reflecting a decrease in financing activity effectiveness[60] - The company experienced a net decrease in cash and cash equivalents of -375,405,126.13, contrasting with a net increase of 176,278,135.97 in the previous year[60] - The total cash flow from investment activities resulted in a net outflow of -112,555,131.22, compared to a net inflow of 109,129,673.80 in the previous year, indicating a shift in investment strategy[62] Inventory and Receivables - The total inventory of self-produced wheat increased by 374.76% year-on-year, while the sales volume rose by 74.29%[20] - The company reported a significant increase in accounts receivable, which rose by CNY 124,690,778.24, reflecting a 57.30% increase compared to the previous year[22] - Accounts receivable increased to ¥342.28 million, up from ¥217.59 million, reflecting a growth of about 57.3%[36] - Inventory levels rose to ¥915,577,661.85, compared to ¥830,720,696.16, marking an increase of 10.2%[44] Shareholder Information - The number of shareholders reached 70,396 at the end of the reporting period[13] - Jiangsu Agricultural Reclamation Group Co., Ltd. held 67.84% of the shares, totaling 934,896,426 shares[13] Government and Financial Support - Government subsidies recognized in the current period amounted to CNY 11.62 million[11] - The company’s financial expenses increased by CNY 68,286,006.29, primarily due to the recognition of lease liabilities under the new leasing standards[22] Market Strategy - The company plans to expand its market presence and enhance product offerings in response to the growing demand for agricultural products[26]

Financial Performance - The company's operating revenue for 2020 was CNY 8,620,080,031.28, representing a 7.38% increase compared to 2019[25]. - The net profit attributable to shareholders for 2020 was CNY 669,700,032.92, which is a 13.25% increase from the previous year[25]. - The net profit after deducting non-recurring gains and losses was CNY 559,215,757.06, reflecting a 15.78% increase year-on-year[25]. - The company's total assets at the end of 2020 were CNY 8,670,455,459.46, up 7.62% from 2019[25]. - The basic earnings per share for 2020 was CNY 0.49, an increase of 13.95% compared to 2019[26]. - The weighted average return on net assets for 2020 was 11.01%, an increase of 0.65 percentage points from the previous year[26]. - The cash flow from operating activities for 2020 was CNY 769,819,659.44, which is a 16.83% increase compared to 2019[25]. - The company achieved a consolidated revenue of 8.62 billion yuan and a net profit attributable to shareholders of 670 million yuan in 2020[54]. - The total production of wheat and rice reached 2.506 billion jin, maintaining a historical high, with an average wheat yield of 1,143 jin per mu, an increase of 58 jin from the previous year[54]. - The company reported a gross profit margin of 15.03%, an increase of 2.38 percentage points compared to the previous year[63]. Dividend Distribution - The company plans to distribute a cash dividend of 2.1 RMB per 10 shares, totaling 289,380,000 RMB (including tax) based on a total share capital of 1,378,000,000 shares as of the end of 2020[6]. - The company reported a cash dividend of 2.10 RMB per 10 shares for the year 2020, totaling 28,938,000 RMB, which accounted for 43.21% of the net profit attributable to ordinary shareholders[115]. - In 2019, the company distributed a cash dividend of 2.00 RMB per 10 shares, amounting to 27,560,000 RMB, representing 46.60% of the net profit attributable to ordinary shareholders[116]. - The company has committed to maintaining compliance with cash dividend policies to protect the rights of minority shareholders[115]. - The company has not proposed any new cash dividend distribution plans despite positive earnings, indicating a focus on reinvestment strategies[117]. Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[5]. - The company is committed to ensuring the authenticity and completeness of its annual report, with all board members present at the meeting[4]. - There are no non-operating fund occupations by controlling shareholders or related parties, nor any violations in decision-making procedures for external guarantees[8]. - The company has confirmed that there are no major issues regarding the integrity of its controlling shareholders and actual controllers during the reporting period[132]. - The company has engaged Tianjian Accounting Firm for auditing services, with a remuneration of RMB 1.55 million for the year 2020[130]. Agricultural Operations and Strategy - The company emphasizes the importance of agricultural support protection subsidies, which were consolidated into a single policy in 2016 to support farmland fertility protection and moderate-scale grain production[17]. - The company operates under the "Five Unifications" model, which standardizes crop layout, seed supply, agricultural production measures, machinery operation standards, and product sales[15]. - The company has a focus on breeding and producing high-yield, disease-resistant crop varieties through various methods[15]. - The company has established stable partnerships with major supermarket chains, enhancing its market presence[37]. - The company’s agricultural service business includes the supply of fertilizers and pesticides, supporting modern agricultural practices[40]. - The agricultural production process is highly mechanized, resulting in lower production costs and higher efficiency[48]. - The company is positioned to benefit from the trend towards industrialized and standardized agricultural production, driven by national policies[41]. - The company has developed proprietary seed varieties, including Huajing No. 5 rice and Huamai No. 5 wheat, which are currently in the mature stage[90]. Risks and Challenges - The company has outlined potential risks in its future development, which are detailed in the report[8]. - The company is facing challenges from rising production costs due to international market price fluctuations of agricultural materials, influenced by the pandemic and global inflation[41]. - The company faces risks related to natural disasters that could significantly impact crop yields and quality, potentially affecting operational performance[110]. - There is a risk of product quality issues that could harm the company's reputation and lead to economic claims, impacting sales and operational performance[110]. - The company is subject to risks from changes in government subsidy policies, particularly in agriculture, which could significantly impact profitability[110]. Research and Development - The company has developed over 160 rice products and 60 edible oil varieties, with 11 patents obtained in technology development[54]. - Research and development expenses increased by 32.70% to CNY 48 million, indicating a commitment to innovation[58]. - The company has established a modern agricultural technology research and promotion system, including a research institute and several specialized centers, enhancing its R&D capabilities[54]. - The company has established stable research cooperation with multiple universities, enhancing its innovation capabilities[57]. Land Management and Expansion - The company has contracted a total of 993,627 mu of farmland with the Agricultural Reclamation Group since December 2011, with an annual rental fee of 360 RMB per mu, which was adjusted to 398.33 RMB per mu for 972,380 mu in December 2016[85]. - The company has implemented a new land management model, achieving a total of 37,800 mu of land entrusted for management as of the autumn sowing of 2020[85]. - The company has engaged in significant land leasing agreements with local governments, ensuring stable operational rights until 2028[146]. - The company has established a long-term agricultural land management strategy, focusing on sustainable practices and community engagement[149]. Community Engagement and Social Responsibility - The company has been actively involved in poverty alleviation efforts, focusing on sustainable development and market-oriented measures[178]. - The company has established various agricultural production bases to support targeted poverty alleviation in economically weak regions[178]. - The company donated 60 tons of rice and 25 tons of cooking oil to Hubei during the pandemic, along with 920,000 yuan for special epidemic prevention efforts[183]. - The company has conducted volunteer blood donation activities, accumulating over 30,000 milliliters of blood donated[186]. Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 68,105, down from 70,396 at the end of the previous month[196]. - The largest shareholder, Jiangsu Nongken Group Co., Ltd., held 934,896,426 shares, representing 67.84% of the total shares[196]. - The top ten shareholders accounted for a significant portion of the company's equity, with the largest shareholder alone holding over two-thirds of the shares[196]. - The company confirmed that there are no known relationships or concerted actions among the top shareholders[200].