宏辉果蔬股份有限公司 2020 年第三季度报告 | 公司代码:603336 | | --- | | 转债代码:113565 | | 公司代码：603336 | 公司简称：宏辉果蔬 | | --- | --- | | 转债代码：113565 | 转债简称：宏辉转债 | | 转股代码：191565 | 转股简称：宏辉转股 | 宏辉果蔬股份有限公司 2020 年第三季度报告 1 / 26 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 宏辉果蔬股份有限公司 2020 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年 度末增减(%) | | | --- | --- | --- | --- | --- | | 总资产 | 1,469,306,691.50 | 1,082,808,121.09 | | 35.69 | | 归属于上市公司股东的净 | 982,583,399.64 | 8 ...

Financial Performance - The company's operating revenue for the first half of the year reached ¥444,685,124.42, representing a 15.47% increase compared to ¥385,093,235.34 in the same period last year[20]. - The net profit attributable to shareholders decreased by 1.39% to ¥40,552,863.11 from ¥41,125,702.32 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was ¥39,494,048.79, down 3.63% from ¥40,980,227.67 in the previous year[20]. - The net cash flow from operating activities fell significantly by 52.66% to ¥36,693,066.87 from ¥77,505,879.13 in the same period last year[20]. - The company's total assets increased by 35.82% to ¥1,470,678,909.99 from ¥1,082,808,121.09 at the end of the previous year[20]. - The net assets attributable to shareholders rose by 8.71% to ¥949,522,654.76 from ¥873,441,764.44 at the end of the previous year[20]. - Basic earnings per share decreased by 7.69% to ¥0.12 from ¥0.13 in the same period last year[19]. - The weighted average return on equity decreased by 0.38 percentage points to 4.56% from 4.94% year-on-year[19]. - The gross profit margin for the company was 14.45%, a decrease of 3.53 percentage points compared to the same period last year[45]. - The company's operating costs increased by 20.44% to RMB 380,413,631.40 from RMB 315,849,967.79 year-on-year[55]. Strategic Initiatives - The company continues to operate under an integrated business model, focusing on standardized base management and cold chain logistics for fresh produce[24][29]. - The company has maintained its procurement model, sourcing directly from domestic and international bases to enhance product quality and reduce costs[30]. - The company signed a strategic cooperation framework agreement with Guangzhou Qianxian E-commerce Co., Ltd. to enhance cold chain logistics and food processing collaboration[49]. - The company is focused on expanding its online sales channels to mitigate the impact of reduced offline sales due to the pandemic[48]. - The company aims to optimize its business structure and expand its market competitiveness through various strategic collaborations and investments[49]. - The company is focused on expanding its product offerings and improving supply chain efficiencies to mitigate risks associated with market fluctuations[69]. - The company plans to enhance its market expansion strategies to improve overall performance in the upcoming quarters[176]. - The company is considering potential mergers and acquisitions to strengthen its market position[176]. Risks and Challenges - The company has detailed the major risks related to its operations in the report, specifically in section four, point three[6]. - Future outlook includes potential risks such as price volatility of agricultural products, which may impact gross margins and overall performance[69]. - The company faces inventory devaluation risks due to seasonal and regional characteristics of agricultural products, which could lead to unsold stock and price drops[69]. - Natural disasters and other uncontrollable events pose risks to production and asset values, affecting overall operational stability[71]. - The ongoing COVID-19 pandemic and international trade tensions may further complicate the operating environment for the company[72]. - The company's customer base primarily consists of large chain supermarkets and e-commerce platforms, making it sensitive to macroeconomic changes[70]. Capital Structure and Financing - The company issued 3.32 million convertible bonds with a total value of RMB 33,200,000, which began trading on March 16, 2020[52][53]. - The company's short-term borrowings rose by 156.31% to RMB 210,175,753.42 from RMB 82,000,000.00 year-on-year[57]. - The company has received multiple international quality certifications, including GLOBALGAP and ISO22000, ensuring product quality and safety[42]. - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 60,000,000, which accounts for 6.31% of the company's net assets[97]. - The company has not reported any significant debt or equity transactions during the reporting period[92]. - The company's debt-to-asset ratio as of June 30, 2020, was 35.37%, an increase of 16.13 percentage points from the end of the previous year, which was 19.24%[108]. Shareholder Information - The company reported a total of 33,200 million RMB in convertible bonds issued, with a net amount raised of 32,625.27 million RMB after deducting related expenses[135]. - The total number of convertible bondholders at the end of the reporting period was 9,578[102]. - The largest shareholder, Huang Junhui, holds 173,597,492 shares, representing 53.12% of the total shares[123]. - The second-largest shareholder, Zheng Youwen, holds 14,647,842 shares, accounting for 4.48% of the total shares[123]. - The company has a total of 101,412,600 shares issued as bonus shares and capital reserve conversion[120]. - The shareholding of the top ten shareholders includes significant pledges, with Huang Junhui having 94,511,000 shares pledged[123]. Compliance and Governance - The company has maintained good integrity during the reporting period, with no significant debts or commitments unfulfilled[84]. - The company’s actual controller and shareholders have fulfilled their commitments during the reporting period[80]. - The company has not made any changes to its accounting firm during the reporting period[83]. - There were no major litigation or arbitration matters during the reporting period[83]. - The company’s board of directors and management have been in compliance with relevant regulations and have not faced any penalties[83]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[85]. Future Outlook - The company plans to temporarily use 5,500 million RMB of idle funds from the convertible bonds for working capital, with a usage period not exceeding 12 months[136]. - The company has approved the use of up to 7,000 million RMB of idle convertible bond funds for purchasing wealth management products, allowing for rolling use within one year[137]. - The company is exploring potential mergers and acquisitions to accelerate growth and market expansion[182]. - The company aims to improve operational efficiency to mitigate losses and enhance profitability moving forward[176].

宏辉果蔬股份有限公司 2020 年第一季度报告 公司代码：603336 公司简称：宏辉果蔬 转债代码：113656 转债简称：宏辉转债 宏辉果蔬股份有限公司 2020 年第一季度报告 1 / 20 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 8 | 宏辉果蔬股份有限公司 2020 年第一季度报告 一、 重要提示 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：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年 | | | --- | --- | --- | --- | --- | | | | | 度末增减(%) | | | 总资产 | 1,468,500,625.84 | 1,082,808,121.09 | | 35.62 | | 归属于上市公司股东的净 | 950,208,782.66 | 873,441,764.44 | | 8.79 | | 资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减 | ...

Financial Performance - The company's operating revenue for 2019 was CNY 851,958,111.77, representing an increase of 11.61% compared to CNY 763,353,835.45 in 2018 [23]. - The net profit attributable to shareholders for 2019 was CNY 78,976,900.87, which is a 23.07% increase from CNY 64,169,890.13 in 2018 [23]. - The net cash flow from operating activities improved significantly to CNY 25,283,858.34 in 2019, compared to a negative cash flow of CNY -63,302,292.98 in 2018, marking a 139.94% change [23]. - The total assets at the end of 2019 were CNY 1,082,808,121.09, an increase of 8.35% from CNY 999,358,996.94 at the end of 2018 [23]. - The basic earnings per share for 2019 was CNY 0.35, reflecting a 25.00% increase from CNY 0.28 in 2018 [24]. - The weighted average return on equity increased to 9.39% in 2019, up by 1.29 percentage points from 8.10% in 2018 [24]. - The gross profit margin for the fruit and vegetable service industry was 15.47%, an increase of 0.92 percentage points compared to the previous year [63]. - The company achieved operating revenue of RMB 851.96 million, a year-on-year increase of 11.61% [58]. - Net profit attributable to the parent company was RMB 79.02 million, up 23.14% year-on-year [58]. Dividend and Share Capital - The company plans to distribute a cash dividend of 1.10 CNY per 10 shares and issue 3 bonus shares for every 10 shares held, totaling a cash payout of 24,789,765.00 CNY and 67,608,450 bonus shares [7]. - The total share capital will increase to 326,774,175 shares after the distribution of bonus shares and capital increase [7]. - The cash dividend policy stipulates that the company will distribute no less than 30% of the average distributable profit over the last three years when profitable [123]. - For the fiscal year 2019, the company proposed a cash dividend of 1.10 RMB per 10 shares and a stock bonus of 3 shares per 10 shares, totaling 24,789,765 RMB in cash dividends [125]. Audit and Compliance - The company has received a standard unqualified audit report from Asia Pacific (Group) CPA [6]. - The company emphasizes the importance of accurate and complete financial reporting, ensuring no misleading statements or omissions [9]. - The company has made adjustments to its financial statement formats in accordance with the revised accounting standards issued by the Ministry of Finance [132]. - The company reported a change in accounting policy due to the implementation of new financial instrument standards effective January 1, 2019 [130]. - The company has not reported any significant accounting errors or issues that required correction during the reporting period [133]. Risk Management - The company has outlined potential risks in its operations and future development in the annual report [9]. - The company faces risks related to price fluctuations of fruit and vegetable products due to factors like climate and market demand, which could adversely affect gross margins [116]. - Seasonal and regional characteristics of fruit and vegetable products may lead to inventory devaluation or unsold stock, posing a risk to profitability [117]. - Natural disasters and other uncontrollable events can significantly impact production and asset value, posing operational risks [119]. - The ongoing COVID-19 pandemic and international trade tensions present risks to the company's operating environment [120]. Market Strategy and Operations - The company has a clear strategy for market expansion and product development, focusing on agricultural production bases [13]. - The company operates several wholly-owned subsidiaries across different regions, enhancing its market presence [13]. - The company is committed to adhering to international quality and safety standards, including ISO9001 and HACCP certifications [13]. - The company operates a comprehensive fresh produce service model, integrating various stages from planting to cold chain distribution [34]. - The company continues to focus on high-quality fruits and vegetables, including both domestic and imported varieties [35]. - The company has established 9 warehousing and processing centers across China, effectively addressing supply and demand discrepancies and ensuring timely delivery of products [50]. - The company is expanding its market presence by establishing a tropical fruit planting base in Malaysia, investing RMB 280 million [56]. - The company is optimizing its sales network by enhancing e-commerce partnerships, leading to a rapid increase in e-commerce revenue share [54]. Governance and Management - The company has established a strong governance structure with all board members present at the meetings [9]. - The company’s board meetings and shareholder meetings approved the changes in accounting policies and auditor appointments without requiring further shareholder approval [135]. - The company has experienced management changes, with the resignation of supervisor Lin Yuping and vice president Song Yongwei during the reporting period [194]. - The company has a structured compensation decision-making process involving the remuneration and assessment committee of the board [200]. - The report highlights the importance of aligning executive compensation with company performance metrics [200]. Social Responsibility - The company actively participates in national poverty alleviation strategies, enhancing its social responsibility profile [57]. - The company has invested 30 million RMB in the Jinggangshan Zhongzheng Jiaotong Poverty Alleviation Industry Fund, holding a 58.82% stake [97]. - The company has not faced any penalties for environmental violations during the reporting period, adhering to relevant environmental laws [156]. - The company focuses on employee rights and satisfaction, providing training and opportunities for professional development [154]. Investment and Financial Management - The company plans to issue convertible bonds to raise up to RMB 332 million for warehouse and logistics projects and to supplement working capital [55]. - The total amount raised from the issuance of convertible bonds was CNY 332 million, with a net amount of CNY 326.25 million after deducting issuance costs of CNY 5.75 million [163]. - The company has invested RMB 60.55 million in bank wealth management products from its own funds, with an outstanding balance of RMB 550,000 [148]. - The company plans to use up to RMB 200 million of idle self-owned funds for purchasing wealth management products, with a rolling usage period of one year [149].

Financial Performance - Net profit attributable to shareholders increased by 15.61% to CNY 63,605,424.49 for the first nine months of the year[7] - Operating revenue rose by 13.39% to CNY 607,824,887.47 year-on-year[7] - The weighted average return on equity increased by 0.66 percentage points to 7.59%[9] - Basic and diluted earnings per share rose by 16.67% to CNY 0.28[9] - Total revenue from operating activities increased significantly, with net cash flow from operating activities rising by 1,470.82% compared to the same period last year[15] - The total profit for the first three quarters of 2019 was CNY 63,605,432.53, compared to CNY 55,167,952.26 in the previous year, representing an increase of about 15.5%[29] - The company achieved a significant increase in other income, totaling ¥114,682.55 in Q3 2019, compared to ¥64,682.55 in Q3 2018[33] - The company has shown a strong performance in net profit growth, with a year-over-year increase of 109.5% for the first three quarters of 2019 compared to the previous year[34] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, reaching CNY 62,974,005.66, a 1,470.82% increase compared to the same period last year[7] - Cash and cash equivalents decreased by 69.74% to CNY 42,427,452.76 compared to the beginning of the year[11] - The net cash flow from investing activities decreased by 146.68%, mainly due to increased investments in the Jinggangshan Poverty Alleviation Fund and fixed asset acquisitions[15] - The net cash flow from operating activities for Q3 2019 was ¥62,974,005.66, a significant improvement compared to a negative cash flow of ¥4,593,897.43 in Q3 2018[37] - The net cash flow from financing activities was -¥70,358,224.36 in Q3 2019, contrasting with a positive cash flow of ¥72,750,095.83 in Q3 2018[37] - The company experienced a net decrease in cash and cash equivalents of ¥97,793,857.44 in Q3 2019, compared to an increase of ¥30,752,402.80 in Q3 2018[39] Assets and Liabilities - Total assets decreased by 3.14% to CNY 967,988,177.19 compared to the end of the previous year[7] - Cash and cash equivalents decreased by 69.74% compared to the beginning of the year, primarily due to repayment of short-term bank loans and increased investment in engineering projects[12] - Fixed assets increased by 33.80% to CNY 147,401,716.67, indicating ongoing investment in infrastructure[11] - The company's total assets as of September 30, 2019, amounted to ¥788,500,246.70, a decrease from ¥828,753,175.86 at the end of 2018[24] - The total liabilities decreased to ¥187,170,241.48 from ¥240,557,195.04, showing a reduction of approximately 22.2%[25] - Total liabilities reached CNY 163,082,551.07, with current liabilities at CNY 158,177,013.32 and non-current liabilities at CNY 4,905,537.75[44] - The company reported a short-term loan of CNY 130,000,000.00[44] Shareholder Information - The number of shareholders reached 31,073, reflecting a stable shareholder base[10] - The company's equity increased by 30.00% compared to the beginning of the year, attributed to the capitalization of capital reserves[12] - The company's equity attributable to shareholders rose to ¥858,050,350.29 from ¥815,265,341.24, reflecting a growth of 5.2%[21] - Total equity (or shareholders' equity) stands at ¥588,195,980.82[50] Expenses and Costs - Sales expenses for the first three quarters of 2019 totaled CNY 24,848,089.31, an increase from CNY 22,447,783.36 in the same period of 2018, which is a rise of about 10.7%[29] - Management expenses for the first three quarters of 2019 were CNY 12,410,286.32, slightly down from CNY 13,095,785.50 in the previous year, showing a decrease of approximately 5.2%[29] - The company reported a decrease in sales costs to ¥82,090,693.24 in Q3 2019 from ¥80,651,280.11 in Q3 2018, indicating improved cost management[32] Other Financial Metrics - Investment income decreased by 88.81% compared to the same period last year, primarily due to reduced financial investment returns[14] - Other comprehensive income after tax increased by 93.96% compared to the same period last year, mainly due to the impact of exchange rate fluctuations[14] - The company recorded a financial expense of CNY -1,264,541.44 for the first three quarters of 2019, a significant improvement compared to CNY -5,138,271.73 in the same period of 2018[29] - The company experienced a credit impairment loss of CNY -2,426,219.15 in the first three quarters of 2019, compared to no such loss in the previous year[29]

宏辉果蔬股份有限公司 2019 年半年度报告 公司代码：603336 公司简称：宏辉果蔬 宏辉果蔬股份有限公司 2019 年半年度报告 1 / 129 宏辉果蔬股份有限公司 2019 年半年度报告 重要提示 本报告期，公司不进行利润分配，也不进行公积金转赠股本。 六、 前瞻性陈述的风险声明 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 十、 其他 九、 重大风险提示 □适用 √不适用 公司已在本报告中详细描述了围绕公司经营可能存在的主要风险，敬请查阅第四节经营情况 讨论与分析中第二点"其他披露事项"中第 2 点"可能面对的风险"。 √适用 □不适用 本报告中涉及的未来计划、发展战略等前瞻性描述，不构成公司对投资者的实质承诺，敬请 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 2 / 129 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、 公司负责人黄俊辉、主管会计工作负责人林晓芬及会 ...

Financial Performance - Operating income increased by 6.75% to CNY 171,773,306.12 year-on-year[9] - Net profit attributable to shareholders increased by 5.48% to CNY 15,633,342.27 compared to the same period last year[9] - Cash flow from operating activities increased by 48.09% to CNY 35,151,447.31 year-on-year[9] - Total operating revenue for Q1 2019 was CNY 171,773,306.12, an increase of 6.4% compared to CNY 160,918,454.77 in Q1 2018[32] - Total operating costs for Q1 2019 were CNY 156,252,469.15, up from CNY 146,407,741.93 in Q1 2018, reflecting a growth of 6.0%[32] - Operating profit for Q1 2019 was CNY 15,942,468.23, slightly up from CNY 15,879,188.22 in Q1 2018[32] - Net profit for Q1 2019 was CNY 9,347,062.39, up from CNY 3,026,749.80 in Q1 2018, representing an increase of 76.5%[36] - Operating profit for Q1 2019 was CNY 9,347,062.39, compared to CNY 4,120,214.23 in the same period last year, indicating a growth of 126.3%[36] - Comprehensive income for Q1 2019 was CNY 9,347,062.39, significantly higher than CNY 3,026,749.80 in Q1 2018, showing overall financial improvement[37] Asset and Liability Management - Total assets decreased by 4.52% to CNY 954,208,517.22 compared to the end of the previous year[9] - Total liabilities decreased from 163,082,551.07 yuan to 122,191,400.71 yuan[25] - The company's cash and cash equivalents decreased from 140,221,310.20 yuan to 80,652,226.89 yuan[23] - Total current assets decreased to CNY 344,317,852.81 as of March 31, 2019, down from CNY 378,917,542.64 at the end of 2018, a decline of 9.1%[28] - Total non-current assets increased to CNY 469,772,834.45 as of March 31, 2019, compared to CNY 449,835,633.22 at the end of 2018, an increase of 4.4%[28] - Total current liabilities decreased to CNY 214,405,977.60 as of March 31, 2019, from CNY 238,350,846.04 at the end of 2018, a decline of 10.0%[29] - Total equity increased to CNY 597,543,043.21 as of March 31, 2019, compared to CNY 588,195,980.82 at the end of 2018, an increase of 1.5%[29] Cash Flow Analysis - Net cash flow from operating activities increased by 48.09% year-on-year, mainly due to a decrease in cash paid for goods and services[16] - Net cash flow from investing activities decreased by 1290.21% year-on-year, primarily due to a decrease in cash received from redeemed bank financial products and increased investment in the Jinggangshan Poverty Alleviation Fund[16] - Net cash flow from financing activities decreased by 41,593,550.03 yuan, mainly due to the repayment of bank working capital loans and interest[16] - The net cash flow from operating activities for Q1 2019 was CNY 21,612,466.44, an increase of 29.0% compared to CNY 16,688,397.81 in Q1 2018[42] - The company reported a total cash outflow from operating activities of CNY 53,095,245.98 in Q1 2019, compared to CNY 61,074,394.53 in Q1 2018, indicating improved cash management[42] - Cash flow from financing activities showed a net outflow of CNY 6,375,750.03, compared to a net outflow of CNY 34,445,400.00 in the previous year[43] Shareholder Information - The number of shareholders reached 26,524 at the end of the reporting period[12] - Earnings per share (EPS) remained stable at CNY 0.09 for both basic and diluted EPS in Q1 2019[36] - The company's retained earnings increased from 371,867,223.59 yuan to 387,500,565.86 yuan[25] Investment and Other Income - Investment income decreased by 76.39% compared to the same period last year, primarily due to a reduction in financial management income[16] - Other comprehensive income increased by 131.62% to CNY 25,782.64 due to exchange rate fluctuations[14] - Other income decreased to CNY 204,263.98 from CNY 644,682.55 in Q1 2018, indicating a shift in revenue sources[36]

Financial Performance - The company's operating revenue for 2018 was CNY 763,353,835.45, representing an increase of 11.55% compared to CNY 684,288,372.04 in 2017[24]. - The net profit attributable to shareholders for 2018 was CNY 64,169,890.13, a slight increase of 1.33% from CNY 63,326,139.45 in 2017[24]. - The net cash flow from operating activities for 2018 was negative CNY 63,302,292.98, a decrease of 238.93% compared to CNY 45,562,629.26 in 2017[24]. - The total assets at the end of 2018 were CNY 999,358,996.94, an increase of 24.84% from CNY 800,485,796.48 at the end of 2017[24]. - The basic earnings per share for 2018 remained at CNY 0.37, unchanged from 2017[25]. - The weighted average return on equity for 2018 was 8.10%, a decrease of 0.26 percentage points from 8.36% in 2017[25]. - The company achieved operating revenue of RMB 763.35 million, an increase of 11.55% year-on-year[56]. - Operating profit reached RMB 65.40 million, up 3.42% compared to the previous year[56]. - Net profit amounted to RMB 64.17 million, reflecting a year-on-year increase of 1.33%[56]. - The company reported a total of 10,015,000 RMB in expected transactions with related parties, of which 4,111,860 RMB has been completed during the reporting period[137]. Dividends and Share Capital - The company plans to distribute cash dividends of 1.20 CNY per 10 shares to all shareholders, based on a total share capital of 173.355 million shares as of December 31, 2018[7]. - The company will also increase its share capital by 3 shares for every 10 shares held, using capital reserves, pending approval at the annual shareholders' meeting[7]. - The company’s cash dividend and share conversion plan was approved at the 2017 annual general meeting held on April 20, 2018[159]. - The total number of ordinary shares increased from 133,350,000 to 173,355,000 after a cash dividend distribution of 26,670,000 RMB and a capital reserve conversion of 40,005,000 shares[160]. - The company distributed a cash dividend of 2 RMB per 10 shares, totaling 26,670,000 RMB, and converted 3 shares for every 10 shares held[161]. Risk Management - The company has detailed potential risks related to its operations in the annual report, which investors should review[9]. - The company faces risks related to macroeconomic fluctuations, price volatility of agricultural products, and potential inventory devaluation due to seasonal demand[116]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not encountered any situations that would lead to a risk of suspension of its stock listing[130]. - The company has not reported any significant accounting errors during the reporting period[129]. Corporate Governance - The company emphasizes the importance of accurate and complete financial reporting, ensuring no false records or misleading statements[10]. - The company has established a sound internal control system in compliance with relevant laws and regulations, ensuring independent and standardized operations of governance bodies[194]. - The company has no significant differences from the requirements set by the China Securities Regulatory Commission regarding corporate governance[194]. - The company has not faced any penalties from securities regulatory authorities in the past three years[189]. - The company’s board of directors and senior management remuneration is determined based on performance, work ability, and position level assessments[187]. Operational Strategy - The company continues to operate in the fresh produce sector, focusing on integrated services from planting to distribution[33]. - The company employs a "company + base + farmer" model to ensure quality and stable supply of fruits and vegetables[37]. - The procurement model includes both domestic and international sourcing, emphasizing direct procurement from production areas[38]. - The sales model consists of both export and domestic sales, primarily supplying large chain supermarkets and e-commerce platforms[39]. - The company is committed to adhering to international standards such as GLOBALGAP and ISO certifications, ensuring product quality and safety[13]. Market Expansion and Development - The company plans to invest 300 million RMB in the construction of a storage and processing distribution center in Shaanxi Province to expand its market in the northwest region[52]. - The company aims to optimize its sales network and expand both domestic and international markets, particularly targeting high-quality agricultural resources in impoverished areas[50]. - The company is focusing on enhancing its quality control system to ensure product safety and quality, which is a key priority for market expansion[103]. - The company is committed to developing a closed-loop quality control system to monitor production and distribution processes[103]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach[180]. Social Responsibility - The company focuses on poverty alleviation initiatives, receiving recognition as a "2018 Outstanding Contribution Unit for Precision Poverty Alleviation" at a national forum[47]. - The company is committed to participating in national poverty alleviation strategies by establishing more planting and processing bases in impoverished areas[115]. - The company actively engaged in social responsibility initiatives, including agricultural resource management and education support in impoverished areas[151]. - The establishment of planting bases and poverty alleviation plans will be implemented in Shaanxi Province, focusing on modern facility agriculture techniques to enhance local farmers' skills and income[110]. Audit and Compliance - The company has received a standard unqualified audit report from Guangdong Zhengzhong Zhujiang Accounting Firm[6]. - The company has appointed Guangdong Zhengzhong Zhujiang Accounting Firm as its auditor for the 2018 fiscal year, with an audit fee of RMB 800,000[130]. - The company has also engaged the same firm for internal control audits at a fee of RMB 200,000[130]. - The integrity status of the company and its major stakeholders is reported to be good, with no significant debts or regulatory penalties[131]. Employee Management - The total number of employees in the parent company is 150, while the main subsidiaries employ 273, resulting in a total of 423 employees[190]. - The company has implemented a training program tailored to different positions and levels to build a high-quality talent pool[192]. - The remuneration for all directors, supervisors, and senior management at the end of the reporting period totaled RMB 2,318,534.84[187]. - The company has a competitive salary system based on performance, with production staff paid on a piece-rate basis and non-production staff receiving a combination of base and performance pay[191].

Financial Performance - Operating revenue for the first nine months rose by 2.45% to CNY 536,044,243.15 year-on-year[10] - Net profit attributable to shareholders increased by 12.34% to CNY 52,191,529.25 compared to the same period last year[10] - Total operating revenue for the first nine months was CNY 223,809,787.67, a decrease of 9.6% compared to CNY 247,644,269.96 in the same period last year[35] - Net profit for the first nine months was CNY 16,115,480.39, down 29.6% from CNY 22,965,750.97 in the previous year[35] - Operating profit for the first nine months was CNY 17,268,659.20, a decrease of 23.0% from CNY 22,403,475.18 in the previous year[35] - Total operating revenue for Q3 2018 reached ¥192,944,737.54, a slight increase of 1.3% compared to ¥190,542,591.53 in Q3 2017[30] - Net profit for Q3 2018 was ¥21,490,763.61, representing a 27.5% increase from ¥16,832,810.47 in Q3 2017[31] - The company reported a gross profit margin of approximately 10.4% for Q3 2018, compared to 10.0% in Q3 2017[30] Cash Flow - Cash flow from operating activities showed a significant decline of 104.55%, resulting in a net outflow of CNY 4,593,897.43[8] - Net cash flow from operating activities decreased by 104.55%, primarily due to increased payments for goods and services[21] - Cash flow from operating activities for the first nine months was CNY 561,454,616.24, a decrease of 2.8% from CNY 573,015,055.05 in the same period last year[38] - The net cash flow from operating activities for Q3 2018 was -4,593,897.43 RMB, a significant decrease compared to 100,988,876.27 RMB in the same period last year[39] - Total cash inflow from operating activities was 568,457,257.27 RMB, while cash outflow was 573,051,154.70 RMB, resulting in a net cash flow deficit[39] - The net cash flow from operating activities for the first nine months was 17,922,615.22 RMB, a decrease from 90,985,557.31 RMB in the previous year[42] Assets and Liabilities - Total assets increased by 17.15% to CNY 937,752,450.35 compared to the end of the previous year[8] - Total assets as of September 30, 2018, amounted to 937,752,450.35 yuan, an increase from 800,485,796.48 yuan at the beginning of the year[24] - Total liabilities as of September 30, 2018, amounted to 131,686,050.89 yuan, compared to 22,469,641.91 yuan at the beginning of the year[25] - Total liabilities increased to ¥190,644,974.41 in Q3 2018, compared to ¥137,383,263.91 in Q3 2017, reflecting a significant rise of 38.8%[29] - The company’s net assets attributable to shareholders increased by 3.61% to CNY 806,066,399.46 compared to the end of the previous year[8] Shareholder Information - The number of shareholders reached 31,978, with the top ten shareholders holding a combined 78.93% of shares[11] - Shareholders' equity decreased to ¥586,723,052.53 from ¥597,277,572.14 year-over-year, indicating a decline of 1.9%[29] Expenses and Financial Metrics - Financial expenses decreased by 191.58% compared to the same period last year, mainly due to increased foreign exchange gains[19] - Operating expenses increased by 372.82% compared to the previous year, primarily due to increased expenditures on non-profit organizations[19] - Income tax expenses decreased by 60.57% compared to the same period last year, mainly due to reduced investment income[19] - Sales expenses for the first nine months were CNY 6,350,695.62, a decrease of 17.4% from CNY 7,689,970.11 in the previous year[35] - Financial expenses for the first nine months were CNY 769,176.28, a significant decrease from CNY 4,476,254.05 in the previous year[35] Cash Flow from Investment and Financing Activities - Net cash flow from investing activities increased by 33,755,682.81 yuan, mainly due to increased redemptions of bank wealth management products[21] - Net cash flow from financing activities increased by 104,235,618.71 yuan, primarily due to increased bank working capital loans[21] - Cash inflow from investment activities for the first nine months was 173,958,519.38 RMB, while cash outflow was 123,843,366.96 RMB, resulting in a net cash flow of 50,115,152.42 RMB[43] - The company received 110,000,000.00 RMB from borrowings in Q3 2018, compared to 10,000,000.00 RMB in the same quarter last year[40] - The net cash flow from financing activities was 72,750,095.83 RMB, a turnaround from a net outflow of -31,485,522.88 RMB in the previous year[40] Other Notable Information - The company reported an asset impairment loss of CNY 3,828,022.58 for the first nine months, compared to a gain of CNY 1,226,882.77 in the previous year[35] - Research and development expenses were not explicitly reported, indicating a potential area for future investment focus[31] - The company has ongoing construction projects with capital expenditures reflected in the "in-progress construction" line item of ¥2,846,419.93[29] - The company aims to enhance its market presence and product offerings, although specific strategies were not detailed in the report[32] - The company reported a cash flow impact from exchange rate changes of -366,638.40 RMB in Q3 2018[40]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 343,099,505.61, representing a 3.14% increase compared to CNY 332,658,654.29 in the same period last year[22]. - The net profit attributable to shareholders of the listed company decreased by 4.02% to CNY 33,524,316.34 from CNY 34,928,060.46 in the previous year[22]. - Basic earnings per share decreased by 5.00% to CNY 0.19 from CNY 0.20 in the same period last year[25]. - The weighted average return on net assets decreased by 0.39 percentage points to 4.24% compared to 4.63% in the previous year[25]. - Operating costs increased by 4.70% to RMB 287.74 million compared to the same period last year[54]. - The company reported a total comprehensive income of ¥33,474,433.88, down from ¥34,974,929.69 in the previous period, indicating a decrease of 4.3%[121]. Cash Flow and Liquidity - The net cash flow from operating activities dropped significantly by 50.44%, amounting to CNY 54,348,802.66 compared to CNY 109,665,964.99 in the same period last year[22]. - Cash inflow from operating activities totaled ¥359,512,274.39, down 7.9% from ¥390,266,109.64[126]. - Cash outflow from operating activities increased to ¥305,163,471.73 from ¥280,600,144.65, an increase of about 8.7%[126]. - Cash and cash equivalents at the end of the period decreased to ¥70,376,717.66 from ¥115,817,251.80, a decline of approximately 39%[127]. Assets and Liabilities - The total assets of the company increased by 1.97% to CNY 816,249,069.96 from CNY 800,485,796.48 at the end of the previous year[24]. - Total liabilities increased to CNY 31,428,481.51 from CNY 22,469,641.91, marking a significant rise of approximately 39.6%[112]. - Current assets decreased to CNY 610,018,772.19 from CNY 632,576,887.30, a decline of about 3.5%[110]. - Inventory decreased to CNY 219,134,075.52 from CNY 235,167,044.81, a reduction of about 6.8%[110]. Shareholder and Capital Structure - The company did not distribute profits or increase capital reserves during the reporting period[7]. - The company completed the transfer of assets to related party Huang Xi for a total price of RMB 4,715,200, based on the assessed net asset value[80]. - The total share capital increased from 133,350,000 shares to 173,355,000 shares after a cash dividend distribution of 26,670,000 RMB and a capital reserve increase of 40,005,000 shares[88]. - The largest shareholder, Huang Junhui, holds 93,921,165 shares, representing 54.18% of the total shares, with an increase of 21,674,115 shares during the reporting period[94]. Operational Strategy and Market Presence - The company operates a comprehensive fresh produce service model, integrating planting management, post-harvest acquisition, cold storage, processing, and distribution[30]. - The company has established 8 storage and processing centers across China, enhancing its distribution capabilities to cover multiple provinces[44]. - The company has obtained export qualifications for its products in several countries, including the United States, Canada, and Southeast Asia, indicating a strong international market presence[45]. - The company has a strong multi-channel sales strategy, primarily targeting supermarkets while also engaging in e-commerce and wholesale markets[40]. Risk Management - The company has outlined potential risks related to its operations in the report, urging investors to be cautious[9]. - The company faces risks related to price fluctuations of fruit and vegetable products, which can impact gross margins and overall performance[62]. - The company is exposed to inventory devaluation risks due to the seasonal nature of fruit and vegetable products[63]. - The company’s performance is closely tied to consumer spending and preferences, making it vulnerable to macroeconomic changes[65]. Governance and Compliance - The company has improved its governance structure and internal controls, ensuring compliance with regulatory requirements and enhancing public company image[52]. - The company has maintained good integrity status during the reporting period, with no significant debts or regulatory penalties reported[76]. - The company has not experienced any major litigation or arbitration matters during the reporting period[76]. - The company confirms its financial statements are prepared based on the going concern principle and comply with the relevant accounting standards[152][155]. Accounting Policies and Financial Instruments - The company has established specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition based on its operational characteristics[154]. - Financial assets are classified into four categories based on investment purpose and economic substance, including those measured at fair value and those held to maturity[168]. - The company applies the aging analysis method for bad debt provision, with a 5% provision for accounts receivable within 1 year, 10% for 1-2 years, 20% for 2-3 years, 50% for 3-4 years, 80% for 4-5 years, and 100% for over 5 years[177]. - The company recognizes long-term equity investments at cost, with adjustments made for differences between the investment cost and the fair value of the acquired equity on the acquisition date[185].