Financial Performance - The company's operating revenue for 2021 reached ¥2,982,922,735.67, representing a 107.26% increase compared to ¥1,439,190,604.09 in 2020[18]. - Net profit attributable to shareholders was ¥258,981,782.60 in 2021, up 102.84% from ¥127,676,931.93 in 2020[18]. - The net profit after deducting non-recurring gains and losses was ¥307,698,107.46, an 18.72% increase from ¥259,170,352.81 in 2020[18]. - The company's total assets increased by 40.05% to ¥6,015,777,263.47 at the end of 2021, compared to ¥4,295,314,764.77 at the end of 2020[18]. - Basic earnings per share for 2021 were ¥0.53, a 39.47% increase from ¥0.38 in 2020[19]. - The weighted average return on net assets was 8.73% in 2021, an increase of 0.82 percentage points from 7.91% in 2020[19]. - The company reported a net cash flow from operating activities of ¥155,208,482.89, a decrease of 58.42% from ¥373,234,074.44 in 2020[18]. - The company achieved a revenue of 2,982.92 million RMB in 2021, representing a year-on-year growth of 107.26%[27]. - The net profit attributable to shareholders was 258.98 million RMB, an increase of 102.84% compared to the previous year[27]. Dividend and Share Capital - The company plans to distribute a cash dividend of 0.52 RMB per 10 shares, totaling 26,316,859.04 RMB, which represents a cash dividend payout ratio of 10.16% for the year 2021[4]. - The company reported a total share capital of 506,093,443 shares as of December 31, 2021[4]. - The total number of shares after the non-public issuance is 506,093,443 shares, with 38,181,814 shares issued to specific investors[179]. Risks and Challenges - The company faces significant risks including price fluctuations in livestock products, raw material price volatility, animal diseases, changes in environmental policies, and industry policy risks[6]. - Raw material price volatility, particularly for feed ingredients like corn and soybean meal, poses a significant risk to the company's cost structure and profitability[78]. - Animal diseases represent a major risk, potentially leading to decreased production efficiency and increased costs due to necessary preventive measures[78]. - Changes in environmental regulations could increase compliance costs, impacting the company's operational performance and profit margins[79]. Operational Efficiency and Strategy - The company operates an integrated industry chain in pig farming, including breeding, feed production, and sales, enhancing operational efficiency[31]. - The company employs a "company + farmer" model for pig farming, where the company provides breeding stock and resources while farmers handle fattening[31]. - The company aims to leverage its strong R&D capabilities and marketing network to enhance the synergy between its farming and feed businesses[31]. - The integrated operation model provides cost advantages, allowing the company to produce its own piglets and feed, resulting in lower breeding costs compared to competitors[36]. - The company has developed a complete integrated industry chain, enhancing operational efficiency and reducing risks in the livestock sector[37]. Environmental Compliance - The company has achieved ISO14001:2015 certification and has implemented a comprehensive wastewater treatment system, meeting both domestic and international environmental standards[125]. - The total discharge of CODcr was 9.5106 tons, with a concentration of 11.04 mg/L, well below the standard limit of 50 mg/L[126]. - The company has established a robust pollution prevention and control system, utilizing advanced treatment technologies for wastewater management[128]. - The company has complied with environmental regulations, holding a valid pollutant discharge permit and paying discharge fees on time[129]. Governance and Management - The company has a robust governance structure, ensuring independence in its operations and management[82]. - The company has established an independent financial accounting department, ensuring compliance with accounting standards and independent financial decision-making[82]. - The total pre-tax remuneration for the management team during the reporting period amounted to 506.13 million yuan[87]. - The company has a strong focus on independent operations, with no reliance on controlling shareholders for business support[82]. Future Outlook and Expansion - The company provided a future outlook, projecting a revenue growth of 10-12% for the next fiscal year[90]. - Market expansion plans include entering two new provinces, which are projected to increase market share by 5%[90]. - The company plans to continue its strategy of national expansion while maintaining its base in Sichuan[46]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million RMB allocated for potential deals[90]. Financial Management and Investments - The company has a stable profit distribution policy, prioritizing cash dividends for investors[116]. - The company plans to invest in new breeding farms, impacting cash flow from investing activities[61]. - The investment activities resulted in a net cash outflow of ¥1,035,475,870.22, primarily due to increased expenditures on new breeding facilities[41]. - The company has a total of 467,911,629 shares before the changes, with 240,000,000 shares being ordinary shares[182]. Related Party Transactions - The company will ensure that any related party transactions are conducted at fair market prices and in compliance with legal procedures[156]. - The company has pledged to minimize and regulate related party transactions, ensuring they do not harm the interests of shareholders[156]. - The company will publicly apologize and compensate for any losses incurred by shareholders due to violations of commitments regarding related party transactions[156]. Performance Commitments - The performance compensation period for the transaction is set for the years 2020, 2021, and 2022, with a total net profit commitment of no less than CNY 577 million for the years 2020 to 2022[150]. - The specific net profit commitments for the years 2020, 2021, and 2022 are CNY 158 million, CNY 159 million, and CNY 260 million respectively[151]. - The net profit attributable to the parent company of Juxing Agricultural Co., Ltd. for 2021 was CNY 404.55 million, exceeding the commitment of CNY 159 million by 254.43%[161].

Financial Performance - Operating revenue surged by 824.33% to CNY 720,223,378.71 from CNY 77,918,476.05 in the same period last year[4] - Net profit attributable to shareholders reached CNY 231,104,189.75, a significant recovery from a loss of CNY 3,362,370.40 in the previous year[4] - Basic earnings per share increased to CNY 0.49 from a loss of CNY 0.01 in the same period last year[4] - Operating profit for Q1 2021 was ¥240,068,155.67, a turnaround from a loss of ¥3,678,431.39 in Q1 2020[17] - The net profit for Q1 2021 was CNY 1.07 million, compared to a net loss of CNY 0.28 million in Q1 2020[19] - The total profit for Q1 2021 was CNY 1.95 million, compared to a loss of CNY 0.30 million in Q1 2020[19] Cash Flow - Net cash flow from operating activities improved to CNY 73,144,387.68, compared to a negative cash flow of CNY 13,537,501.22 last year[4] - Operating cash inflow for Q1 2021 was CNY 797.50 million, significantly higher than CNY 100.82 million in Q1 2020[21] - Total cash inflow from financing activities was 437,218,483.45, with cash outflow totaling 340,709,042.54, resulting in a net cash flow of 96,509,440.91[23] - Net cash flow from investing activities was -159,378,763.02, indicating significant cash outflows for investments[22] Assets and Liabilities - Total assets increased by 14.04% to CNY 4,898,578,761.17 compared to the end of the previous year[4] - The company's total liabilities increased to approximately CNY 1.95 billion, up from CNY 1.59 billion, representing a growth of about 22.93%[14] - Long-term borrowings rose to approximately CNY 376.83 million from CNY 179.05 million, reflecting an increase of about 110.73%[13][14] - Total liabilities for Q1 2021 were ¥744,182,297.00, an increase from ¥720,788,391.74 in Q1 2020, representing a growth of approximately 3.2%[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,648, with significant stakes held by major shareholders[7] - Major shareholder Sichuan Hebang Investment Group holds 27.71% of the shares, indicating strong institutional support[7] Inventory and Receivables - Inventory increased significantly to approximately CNY 1.05 billion, compared to CNY 826.91 million, marking a rise of approximately 27.00%[12] - Accounts receivable decreased to approximately CNY 183.31 million from CNY 194.56 million, showing a decline of about 5.76%[12] - Accounts receivable decreased to ¥118,835,541.12 in Q1 2021 from ¥137,148,391.41 in Q1 2020, a decline of approximately 13.5%[15] Research and Development - Research and development expenses in Q1 2021 amounted to ¥3,535,688.82, up from ¥876,442.96 in Q1 2020, reflecting an increase of approximately 303.5%[17] - Research and development expenses increased to CNY 1.04 million in Q1 2021 from CNY 0.88 million in Q1 2020, reflecting a focus on innovation[19] Government Support and Risk Management - Government subsidies recognized in the current period amounted to CNY 1,244,908.83, contributing positively to the financial results[5] - The company reported a gain of CNY 5,365,127.50 from futures trading, indicating effective risk management strategies[5] Changes in Accounting Standards - The company adopted new accounting standards effective January 1, 2021, impacting various financial statement items[30] - The company is implementing new leasing standards effective from January 1, 2021, which may impact future financial reporting[35]

Financial Performance - Operating revenue for the reporting period was approximately CNY 77.92 million, down 38.92% year-on-year[4]. - Net profit attributable to shareholders of the listed company was a loss of approximately CNY 3.36 million, a decrease of 127.16% compared to the previous year[4]. - Basic earnings per share were -CNY 0.01, a decrease of 120.00% year-on-year[4]. - The weighted average return on net assets was -0.40%, down 1.88 percentage points from the previous year[4]. - Total operating revenue for Q1 2020 was 77,918,476.05, a decrease of 39.1% compared to 127,574,298.10 in Q1 2019[21]. - Net profit for Q1 2020 was -3,190,192.64, compared to a net profit of 11,146,123.72 in Q1 2019, indicating a significant decline[22]. - The company reported a total comprehensive income of -9,418,782.05 for Q1 2020, down from 10,469,395.78 in Q1 2019[22]. - Basic earnings per share for Q1 2020 were -0.01, compared to 0.05 in Q1 2019, showing a negative shift[22]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 1.42 billion, a slight increase of 0.02% compared to the end of the previous year[4]. - Total current assets as of March 31, 2020, amounted to ¥994,730,067.16, a slight increase from ¥984,884,544.32 in the previous year[15]. - Total non-current assets decreased to ¥429,518,829.81 from ¥439,023,160.42, a decline of approximately 2.3%[16]. - Total liabilities increased to ¥567,807,243.08 from ¥546,047,268.80, marking an increase of about 4%[17]. - Total equity decreased to ¥856,441,653.89 from ¥877,860,435.94, a decline of approximately 2.4%[17]. - Total liabilities increased to 549,348,451.53 in Q1 2020 from 528,112,285.21 in Q1 2019, representing a rise of 4.6%[20]. - Total equity decreased to 846,797,548.07 in Q1 2020 from 859,076,791.08 in Q1 2019, reflecting a decline of 1.4%[20]. Cash Flow - Net cash flow from operating activities was negative at approximately CNY 13.54 million, a decline of 161.20% compared to the same period last year[4]. - Cash flow from operating activities in Q1 2020 was a net outflow of approximately ¥13.54 million, down from a net inflow of ¥22.12 million in Q1 2019[27]. - The total cash inflow from operating activities in Q1 2020 was approximately ¥100.82 million, down from ¥181.64 million in Q1 2019[26]. - The net cash flow from financing activities in Q1 2020 was approximately ¥37.74 million, compared to ¥3.67 million in Q1 2019, indicating improved financing conditions[28]. - The net increase in cash and cash equivalents for Q1 2020 was 17,903,177.91 RMB, up from 6,327,126.28 RMB in Q1 2019, reflecting improved liquidity management[30]. Shareholder Information - The top ten shareholders held a total of 243,000,000 shares, accounting for 99.99% of the total shares[7]. - Sichuan Hebang Investment Group Co., Ltd. held 43.87% of the shares, with 60,097,674 shares pledged[7]. Expenses - Management expenses increased by 30.28% to ¥4,547,250.28 due to higher audit consulting fees and other costs[11]. - Financial expenses rose by 39.33% to ¥2,370,791.58, primarily due to new bank loans[11]. - The company incurred financial expenses of 2,370,791.58 in Q1 2020, up from 1,701,575.12 in Q1 2019, an increase of 39.4%[21]. - Research and development expenses for Q1 2020 were 876,442.96, slightly higher than 805,228.71 in Q1 2019, indicating a 8.8% increase[21]. Government Support - The company reported government subsidies of CNY 327,023.77 related to normal business operations[5].