Financial Performance - The company's operating revenue for Q1 2023 was CNY 79,976,841.94, representing a year-on-year increase of 7.21%[3] - The net profit attributable to shareholders decreased by 21.54% to CNY 10,659,491.08 compared to the same period last year[3] - The basic and diluted earnings per share were both CNY 0.11, reflecting a decline of 21.43%[3] - Total operating revenue for Q1 2023 reached CNY 79,976,841.94, an increase of 7.4% compared to CNY 74,597,783.30 in Q1 2022[15] - Operating profit for Q1 2023 decreased to CNY 12,203,445.47, down 22.5% from CNY 15,739,327.00 in Q1 2022[15] - Net profit for Q1 2023 was CNY 12,224,237.47, a decline of 22.5% compared to CNY 15,739,327.02 in Q1 2022[15] - In Q1 2023, the company's net profit was CNY 10,659,491.08, a decrease of 21.4% compared to CNY 13,586,336.52 in Q1 2022[16] - Basic and diluted earnings per share for Q1 2023 were CNY 0.11, down from CNY 0.14 in Q1 2022, reflecting a 21.4% decline[16] Cash Flow and Investments - The net cash flow from operating activities fell by 36.29% to CNY 12,671,502.72, primarily due to increased tax payments[5] - Operating cash flow for Q1 2023 was CNY 12,671,502.72, a decrease of 36.3% from CNY 19,890,870.53 in Q1 2022[18] - Cash inflow from operating activities totaled CNY 94,167,448.01, slightly up from CNY 92,847,167.48 in the previous year[18] - Cash outflow from operating activities increased to CNY 81,495,945.29, compared to CNY 72,956,296.95 in Q1 2022, marking a 11.5% rise[18] - The company reported a net cash outflow from investing activities of CNY -15,085,693.77, worsening from CNY -10,307,202.68 in the same period last year[19] - The company received CNY 145,000,000.00 from investment activities in Q1 2023, a decrease from CNY 297,000,000.00 in Q1 2022[18] - The company incurred CNY 52,568,107.85 in cash outflows for debt repayment in Q1 2023, significantly higher than CNY 2,250,000.00 in Q1 2022[19] - The company experienced a net cash outflow of CNY -29,629,576.52 in Q1 2023, contrasting with a net increase of CNY 6,482,643.59 in Q1 2022[19] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 898,504,623.27, down 2.53% from the end of the previous year[4] - Cash and cash equivalents as of March 31, 2023, were CNY 126,526,655.88, down 19.0% from CNY 156,157,461.43 at the end of 2022[10] - Total liabilities as of March 31, 2023, were CNY 199,785,933.52, down 15.1% from CNY 235,257,459.70 at the end of 2022[12] - Non-current assets increased to CNY 540,157,001.71 as of March 31, 2023, up 7.4% from CNY 503,021,577.72 at the end of 2022[11] - The company reported a significant increase in long-term equity investments, rising to CNY 73,792,901.64 from CNY 49,143,363.40[11] Shareholder Information - The top shareholder, Qingdao Boya Investment Holding Co., Ltd., holds 56.24% of the shares, with 17,079,071 shares pledged[7] - The total number of ordinary shareholders at the end of the reporting period was 5,364[6] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[15]

Financial Performance - In 2022, the company's operating revenue was RMB 308,575,935.83, a decrease of 8.84% compared to RMB 338,504,574.00 in 2021[21]. - The net profit attributable to shareholders was RMB 51,060,481.04, down 37.19% from RMB 81,287,892.75 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was RMB 42,640,597.14, a decline of 38.15% from RMB 68,939,745.40 in 2021[21]. - The cash flow from operating activities was RMB 54,319,740.03, which is 8.76% lower than RMB 59,532,274.23 in 2021[21]. - The diluted earnings per share decreased by 36.59% to 0.52 yuan per share in 2022[22]. - The weighted average return on equity fell by 5.24 percentage points to 7.61% in 2022[22]. - The gross profit margin for the food manufacturing sector was 39.39%, a decrease of 4.05 percentage points year-on-year[62]. - The sales revenue from sauce seasonings was CNY 229.79 million, down 8.23% year-on-year, with a gross margin decrease of 4.73 percentage points[62]. - The company reported a net cash flow from operating activities of CNY 54.32 million, a decline of 8.76% from the previous year[58]. - The company reported a significant reliance on its top five customers, which accounted for 36.84% of total annual sales, with the largest customer contributing CNY 3,178.06 million[68][69]. Assets and Liabilities - As of the end of 2022, the total assets amounted to RMB 921,840,766.28, reflecting an increase of 11.89% from RMB 823,899,183.83 at the end of 2021[21]. - The net assets attributable to shareholders reached RMB 686,583,306.58, a growth of 3.89% compared to RMB 660,905,990.43 in 2021[21]. - The company's cash flow from investing activities was negative CNY 33.54 million, an improvement from negative CNY 64.72 million in the previous year[59]. - Short-term borrowings increased by 91.33% compared to the previous year, primarily due to an increase in bank loan balances[80]. - The company's long-term borrowings decreased by 33.33% compared to the previous year, primarily due to the repayment of part of the mortgage loans[82]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2 per 10 shares, totaling RMB 19,722,736.20, which represents 38.63% of the net profit for the year[4]. - The total dividend amount (including tax) for 2022 was 19,722,736.20, accounting for 38.63% of the net profit attributable to ordinary shareholders[166]. - The company completed a cash dividend distribution of 29,584,104.30 RMB for the year 2021, accounting for 36.39% of the net profit attributable to shareholders[161]. - The company has a cash dividend policy that mandates a minimum of 10% of the distributable profit to be distributed as cash dividends each year[159]. - The board has proposed a dividend payout of 0.5 RMB per share, reflecting a commitment to returning value to shareholders[132]. Market and Industry Position - The compound seasoning industry in China is in the early stages of market penetration, with significant growth potential compared to developed countries[37]. - The company is a leading supplier of compound seasoning solutions for food processing and catering enterprises in China, with a focus on customized products for chain restaurants since 2012[40]. - The company maintains a leading market share in the domestic compound seasoning market, primarily serving food processing enterprises, with a stable competitive landscape since 2012[116]. - The customized compound seasoning business targeting domestic chain restaurants has rapidly grown due to the widespread adoption of centralized kitchen procurement and distribution models, indicating significant market growth potential[116]. - The concentration ratio (CR5) of China's seasoning industry is 18.8%, indicating significant room for improvement compared to the US (46.4%) and Japan (26.1%) markets[104]. Research and Development - The company launched over 300 new products in the sauce category and over 90 new products in the powder category to meet diverse consumer demands[30]. - The total research and development expenses were CNY 11.50 million, reflecting a slight increase of 1.33% year-on-year[58]. - The company has a strong R&D capability, with a dedicated team that continuously optimizes products based on market trends and consumer preferences[54]. - The company is planning to invest 200 million RMB in research and development for new technologies aimed at improving production efficiency[132]. - The company has established a professional R&D team for product development and formula improvement, but faces challenges in market recognition and marketing for new products due to rising consumer expectations[117]. Strategic Initiatives - The company aims to enhance its core competitiveness and risk resistance through internal management improvements and strategic initiatives[29]. - The company is focusing on product innovation and quality management to adapt to market changes and consumer preferences[30]. - The company is committed to becoming a digitally leading enterprise in the seasoning industry[29]. - The company is enhancing its digital transformation by upgrading its digital workshops, focusing on data collection and production execution systems to improve efficiency and reduce costs[32]. - The company is advancing its digital transformation by implementing SAP Cloud ERP and a collaborative platform to improve process management and operational efficiency[111]. Risk Management - There are no significant risks that could materially affect the company's operations during the reporting period[7]. - The company faces risks from rising raw material costs, particularly for essential ingredients like starch and edible oil, which could impact profit margins[113]. - Food safety remains a critical risk, with potential impacts from quality control failures and the need to adapt to changing food safety regulations[115]. - The company has not reported any dissenting opinions from the supervisory board regarding risk management during the reporting period[153]. Governance and Management - The company has maintained a consistent leadership structure with regular elections and appointments[140]. - The board of directors includes experienced professionals with diverse backgrounds, enhancing governance and oversight[135]. - The company has undergone a board member election process, resulting in several new appointments and departures[140]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 6.4199 million yuan[139]. - The company has independent directors serving in various capacities across multiple organizations, indicating a broad governance structure[138]. Environmental and Social Responsibility - The company has implemented carbon reduction measures, resulting in a decrease of 419 tons of CO2 equivalent emissions annually[177]. - The company actively participates in public welfare activities, including donations and support for local construction projects[182]. - The company has established a quality policy focused on "product safety, quality first, customer orientation, and continuous improvement," aiming for zero quality safety incidents[180]. - The company has adopted energy replacement measures to reduce carbon emissions, including replacing high-power electrical equipment with fossil energy alternatives[178]. - The company has established a strict supplier management system to ensure long-term stable relationships with suppliers[186].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥144,939,021.79, a decrease of 0.36% compared to ¥145,464,839.23 in the same period last year[16] - The net profit attributable to shareholders for the first half of 2022 was ¥25,540,224.99, down 24.86% from ¥33,992,049.96 in the previous year[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥19,799,304.86, a decline of 31.29% compared to ¥28,814,269.89 in the same period last year[16] - Basic earnings per share for the first half of 2022 were ¥0.26, down 23.53% from ¥0.34 in the same period last year[17] - The weighted average return on net assets was 4.13%, a decrease of 1.39 percentage points from 5.52% in the previous year[17] - The company achieved operating revenue of 144.94 million yuan, a year-on-year decrease of 0.36%[51] - The net profit attributable to shareholders was 25.54 million yuan, down 24.86% year-on-year[51] Cash Flow and Assets - The net cash flow from operating activities increased significantly to ¥34,695,769.88, up 222.25% from ¥10,766,805.91 in the previous year[16] - The total assets at the end of the reporting period were ¥836,792,006.00, reflecting a 1.56% increase from ¥823,899,183.83 at the end of the previous year[16] - The net cash flow from operating activities was not detailed in the provided documents, indicating a need for further analysis[134] - The company’s cash and cash equivalents increased by 136.41% year-on-year, reaching RMB 336,931,685.53[60] - The company reported a total asset value of CNY 836,792,006.00 as of June 30, 2022, compared to CNY 823,899,183.83 at the beginning of the period, reflecting a growth of approximately 1.6%[116] Market and Industry Insights - The company focuses on the research, production, and sales of compound seasonings, targeting food processing and catering enterprises with over a thousand product varieties[21] - The compound seasoning industry in China is still in the early stages of introduction, with a low market penetration rate compared to developed countries, indicating significant future market potential[36] - The restaurant and food processing sectors account for approximately 70% of the seasoning consumption market, while household consumption represents about 30%[37] - The demand for compound seasonings is driven by the rapid growth of the takeout and prepared food industries, as consumers seek convenience and quality in their meals[38] - The concentration of the compound seasoning industry in China is relatively low, with the top five companies holding only 20.4% of the market share, indicating room for consolidation[41] Research and Development - The R&D department is structured into multiple teams focusing on product and process innovation, ensuring safety and quality standards for new products[28] - The company is committed to R&D for new product development and recipe improvements to meet evolving consumer preferences[70] - Research and development expenses for the first half of 2022 were CNY 5,778,331.78, slightly up from CNY 5,315,343.42 in the same period last year[123] Corporate Governance and Management - The company held its annual general meeting on May 20, 2022, where several resolutions were passed, including the election of new directors and independent directors[79] - The company has undergone significant changes in its board and supervisory personnel, with multiple resignations and elections occurring in 2022[78] - The company is focusing on enhancing its governance structure through the election of new board members and supervisors[79] Environmental and Social Responsibility - The company has implemented a series of energy-saving and emission reduction measures in response to the "Carbon Peak Action Plan" issued by the State Council, including technical upgrades and environmental assessments for new projects[89] - The company actively participates in public welfare activities, such as tree planting initiatives in the community, promoting a green home concept[90] - The company has committed to limit annual share reductions by major shareholders to no more than 25% of their total holdings at the end of the previous year[95] Financial Management and Risks - The company faces risks from rising raw material prices, particularly for starch, edible oil, and white sugar, which could affect gross and net profit margins[66] - The company has established a robust procurement management system to mitigate raw material supply risks[66] - The ongoing COVID-19 pandemic poses risks to downstream restaurant demand and product sales, affecting overall business operations[72] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 7,819[103] - The largest shareholder, Qingdao Boya Investment Holdings Co., Ltd., holds 55,465,261 shares, representing 56.24% of the total shares[105] - The second largest shareholder, Qingdao Morningstar Equity Investment Management Partnership, holds 8,948,396 shares, representing 9.07% of the total shares[105] Compliance and Legal Matters - There are no significant lawsuits or arbitration matters reported during the reporting period[98] - The company confirmed no non-operating fund occupation by controlling shareholders or related parties[98] - The company has not engaged in any major related party transactions during the reporting period[98]

Financial Performance - The company's operating revenue for Q1 2022 was ¥74,597,783.30, representing a year-on-year increase of 7.11%[5] - The net profit attributable to shareholders decreased by 7.51% to ¥13,586,336.52 compared to the same period last year[5] - Basic and diluted earnings per share were both ¥0.14, reflecting a decrease of 6.67% year-on-year[6] - Total operating revenue for Q1 2022 was CNY 74,597,783.30, an increase of 7.9% compared to CNY 69,646,214.79 in Q1 2021[22] - Net profit for Q1 2022 was CNY 13,586,336.52, a decrease of 7.5% from CNY 14,690,003.43 in Q1 2021[23] - Operating profit for Q1 2022 was CNY 15,739,327.00, down 9.4% from CNY 17,364,871.56 in Q1 2021[23] Cash Flow - The net cash flow from operating activities increased significantly by 31,028.76% to ¥19,890,870.53, mainly due to increased sales collections[10] - Cash flow from operating activities for Q1 2022 was CNY 19,890,870.53, significantly higher than CNY 63,898.70 in Q1 2021[26] - Cash received from sales of goods and services in Q1 2022 was CNY 92,116,653.21, an increase from CNY 73,848,356.96 in Q1 2021[26] - The net cash flow from investing activities was -$10,307,202.68, an improvement from -$44,579,228.38 in the previous year[27] - The company reported a net increase in cash and cash equivalents of $6,482,643.59, contrasting with a decrease of $47,152,735.93 in the prior year[27] Assets and Liabilities - The total assets at the end of the reporting period were ¥833,831,371.60, an increase of 1.21% from the end of the previous year[6] - Current assets totaled RMB 516,502,997.11, down from RMB 535,316,305.08 at the end of 2021, primarily due to a decrease in trading financial assets[17] - Total non-current assets reached RMB 317,328,374.49, up from RMB 288,582,878.75 at the end of 2021, reflecting investment in long-term assets[18] - Total liabilities as of Q1 2022 were CNY 157,973,168.18, a decrease from CNY 162,993,193.40 in the previous year[22] - Total current liabilities decreased to RMB 131,431,575.65 from RMB 134,121,710.62 at the end of 2021, indicating improved liquidity management[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,301[12] - The largest shareholder, Qingdao Boya Investment Holding Co., Ltd., held 56.24% of the shares, with 14,553,381 shares pledged[12] Government Support and Investments - The company received government subsidies of ¥215,967.99, primarily related to the Qingdao municipal science and technology plan[7] - The company made investments totaling $277,000,000.00, down from $302,245,000.00 in the previous year[27] Other Financial Metrics - The weighted average return on equity decreased by 0.35 percentage points to 2.03%[6] - Research and development expenses for Q1 2022 were CNY 3,025,332.49, up from CNY 2,691,846.48 in Q1 2021[22] - The company reported a decrease in accounts receivable to RMB 55,074,179.60 from RMB 65,374,479.77 at the end of 2021, indicating improved collection efforts[17] - The total equity position remains strong, supporting future growth and operational stability[16] - Total equity as of Q1 2022 was CNY 675,858,203.42, an increase from CNY 660,905,990.43 in the previous year[22] Accounting Standards and Reporting - The company has not adopted the new accounting standards for the current year[29] - The report was published by the board of directors on April 27, 2022[29]

Financial Performance - The company's operating revenue for 2021 was RMB 338,504,574, representing a 28.57% increase compared to RMB 263,276,257 in 2020[20]. - The net profit attributable to shareholders of the listed company was RMB 81,287,892.75, a slight increase of 0.05% from RMB 81,250,497.71 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 10.11% to RMB 68,939,745.40 from RMB 76,697,226.64 in 2020[20]. - The net cash flow from operating activities was RMB 59,532,274.23, down 13.59% from RMB 68,897,231.15 in the previous year[20]. - The total assets at the end of 2021 were RMB 823,899,183.83, reflecting a 15.80% increase from RMB 711,492,033.40 at the end of 2020[20]. - The net assets attributable to shareholders of the listed company increased by 8.53% to RMB 660,905,990.43 from RMB 608,974,555.90 in 2020[20]. - The company achieved a significant increase in cash flow from operating activities in Q4, reaching 35.42 million yuan[24]. - The company reported a total revenue of ¥338,336,393.77, with a gross margin of 43.44%[70]. - The company reported a total revenue of 643.88 million in 2021, reflecting a growth compared to previous years[100]. Revenue Breakdown - Revenue from restaurant enterprise clients reached 146.50 million yuan, a year-on-year increase of 32.67%, accounting for 43.28% of total revenue[32]. - Revenue from food processing enterprise clients was 143.70 million yuan, a year-on-year increase of 22.10%, accounting for 42.45% of total revenue[32]. - The company achieved a significant increase in sales through the distribution model, with revenue growth of 129.3%[45]. - In 2021, online sales revenue reached CNY 1,542,475.95 thousand, accounting for 46% of total revenue, with a gross margin of 59.99%[75]. Cost and Expenses - The cost of goods sold increased by 36.91% to CNY 191,516,318, primarily due to rising raw material prices and increased sales volume[42]. - Research and development expenses rose by 18.93% to CNY 11,346,075, reflecting the company's commitment to product innovation[42]. - The company's comprehensive gross profit margin was 43.42%, a decrease of 3.45 percentage points compared to the previous year, primarily due to rising raw material prices[32]. - The company's sales expenses increased by 60.98% to ¥20,994,952.77 compared to ¥13,041,789.79 in the previous year[55]. Strategic Initiatives - The company established three new subsidiaries to enhance its strategic planning and business development, including a joint venture with Xia Bo Xia Bo to expand product categories[33]. - The company aims to leverage the growing demand for prepared foods and the transformation of the restaurant chain industry to drive growth in the compound seasoning market[80]. - The company plans to enhance its marketing network by establishing regional marketing centers and experience centers in key cities, particularly in the Yangtze River Delta region[85]. - The company is exploring potential acquisitions to enhance its product portfolio, with a focus on companies that align with its strategic goals[100]. Governance and Compliance - The board of directors has clear responsibilities and actively participates in meetings, ensuring the protection of shareholders' rights[95]. - The supervisory board also fulfills its duties diligently, overseeing the legality and compliance of the company's financial practices[96]. - The company adheres to strict information disclosure management, ensuring timely and accurate information is available to all shareholders[96]. - The company has established specialized committees within the board to enhance decision-making efficiency and compliance[95]. Risk Factors - The company faced challenges from the COVID-19 pandemic, particularly affecting the restaurant sector, which is a key sales channel[31]. - Global commodity prices surged, impacting raw material costs and consequently affecting the company's overall performance[31]. - The company faces risks from rising raw material prices, which could impact gross and net profit margins[88]. - Food safety risks are a concern, as any lapses in quality control could harm the company's reputation and sales[89]. Environmental and Social Responsibility - The company has a commitment to social responsibility, emphasizing legal compliance and quality food production[135]. - The company has taken measures to reduce carbon emissions, including the installation of solar water heating systems in office areas[134]. - The company has maintained a good operational status for its environmental protection facilities, ensuring compliance with wastewater discharge standards[133]. - The company actively participates in public welfare activities, including donations to local construction and support for police families in need[140]. Future Outlook - Future outlook suggests a projected revenue growth of 17.45% for the upcoming fiscal year, driven by new product launches and market expansion strategies[100]. - The company plans to enhance its digital marketing efforts, targeting a 50% increase in online sales channels by the end of 2022[100]. - The management team emphasized the importance of sustainability in their new strategies, aiming for a 46% reduction in carbon footprint by 2025[100].

Financial Performance - The company's operating revenue for Q3 2021 was ¥94,787,518.04, representing a year-on-year increase of 23.03%[3] - The net profit attributable to shareholders for the same period was ¥22,607,395.62, showing a decrease of 4.16% compared to the previous year[3] - The basic earnings per share for Q3 2021 was ¥0.23, down by 4.17% year-on-year[4] - Total operating revenue for the first three quarters of 2021 reached ¥240,252,357.27, an increase from ¥184,200,582.00 in the same period of 2020, representing a growth of approximately 30.5%[19] - Net profit for the first three quarters of 2021 was ¥56,599,445.58, compared to ¥59,498,093.86 in the same period of 2020, reflecting a decrease of approximately 4.8%[20] - Basic and diluted earnings per share for the current period were both ¥0.57, down from ¥0.60 in the previous year[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥786,777,249.04, reflecting a growth of 10.58% from the end of the previous year[4] - The company's total liabilities as of the third quarter of 2021 amounted to ¥150,787,351.86, compared to ¥102,517,477.50 in the same period of 2020, showing an increase of about 46.9%[16] - Total equity attributable to shareholders of the parent company was ¥635,989,897.18, an increase from ¥608,974,555.90 in the previous year, representing a growth of approximately 4.4%[16] - The total assets of the company reached ¥786,777,249.04, compared to ¥711,492,033.40 at the end of 2020, marking a 10.6% growth[14] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥24,111,856.53, which is a decline of 22.26% compared to the same period last year[3] - The net cash flow from operating activities for the first three quarters of 2021 was ¥24,111,856.53, a decrease of 22.5% compared to ¥31,017,373.76 in the same period of 2020[24] - Cash inflow from operating activities totaled ¥241,112,013.11, up 31.7% from ¥183,024,716.75 year-on-year[24] - Cash outflow from operating activities increased to ¥217,000,156.58, compared to ¥152,007,342.99 in the previous year, reflecting a rise of 42.7%[24] - The net cash flow from investing activities was -¥5,730,476.85, an improvement from -¥68,044,158.49 in the same period last year[25] - The net cash flow from financing activities was ¥14,236,025.18, a turnaround from -¥54,237,524.55 in the same period last year[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,130[8] - The largest shareholder, Qingdao Boya Investment Holding Co., Ltd., held 56.24% of the shares, amounting to 55,465,261 shares[9] - Maple Marble Corp. reported a total of 3,623,730 shares held by its largest shareholder, indicating a strong ownership structure[10] Market and Future Outlook - Future outlook remains cautious with no specific guidance provided for the upcoming quarters[12] - The company emphasizes the importance of monitoring market conditions and adjusting strategies accordingly[12] - Future outlook includes a projected revenue growth of 12% for Q4 2021, driven by new product launches[31] - The company plans to invest 50 million RMB in R&D for new technologies in food processing[31] - Market expansion efforts are focused on increasing presence in Southeast Asia, targeting a 15% market share by 2023[31] - The company is exploring potential acquisitions to enhance its product portfolio and distribution channels[31] - New strategies include a digital marketing campaign aimed at increasing brand awareness by 25% in the next year[31] Operational Metrics - The company received government subsidies amounting to ¥2,260,267.14 during the year-to-date, which are included in non-recurring gains and losses[6] - Accounts receivable rose to ¥69,714,790.70 from ¥50,321,661.78, showing a 38.5% increase year-over-year, which may indicate improved sales performance[14] - Inventory levels increased to ¥30,337,365.40 from ¥24,437,951.58, representing a 24.5% rise, suggesting potential stockpiling in anticipation of future demand[14] - Non-current assets totaled ¥223,560,199.87 as of September 30, 2021, up from ¥147,295,415.11, indicating a 51.7% increase in long-term investments[14] - The company has maintained a stable capital reserve of ¥347,338,750.97, unchanged from the previous year, indicating consistent financial management[16] Research and Development - Research and development expenses for the first three quarters of 2021 were ¥8,344,310.13, compared to ¥6,934,685.62 in 2020, indicating an increase of about 20.3%[19] - The company has not disclosed any new product developments or technological advancements in this quarter[12] - There are no significant mergers or acquisitions reported during this period[12]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥145,464,839.23, representing a 35.75% increase compared to ¥107,156,124.38 in the same period last year[16]. - The net profit attributable to shareholders of the listed company decreased by 5.34% to ¥33,992,049.96 from ¥35,910,007.52 in the previous year[16]. - The net cash flow from operating activities fell by 48.49% to ¥10,766,805.91, down from ¥20,901,776.79 in the same period last year[16]. - The total assets increased by 5.61% to ¥751,414,586.65 compared to ¥711,492,033.40 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company rose by 0.72% to ¥613,382,501.56 from ¥608,974,555.90 at the end of the previous year[16]. - Basic earnings per share decreased by 5.56% to ¥0.34 from ¥0.36 in the same period last year[17]. - The weighted average return on net assets decreased by 0.56 percentage points to 5.52% from 6.08% in the previous year[17]. - The company reported a 15.07% decrease in net profit after deducting non-recurring gains and losses, amounting to ¥28,814,269.89 compared to ¥33,927,548.15 last year[16]. - Revenue from the restaurant business reached CNY 59.50 million, a year-on-year growth of 75.06%[32]. - The company's operating costs increased by 47.38% year-on-year, primarily due to the rise in operating revenue and transportation costs[34]. - The company has established a strong customer base, including strategic clients like Xiaobubub and Ajisen Ramen, enhancing its market share in the restaurant sector[28]. Research and Development - Research and development expenses rose by 22.00% year-on-year, amounting to CNY 5.32 million[34]. - The research and development department is structured into multiple teams focusing on different product categories, ensuring innovation in both product and process[24]. - The company has allocated CNY 30 million for research and development of new technologies aimed at improving production efficiency[51]. - The company holds 10 invention patents and 23 utility model patents, showcasing its strong product development capabilities[30]. - The company has established a comprehensive product development process that includes safety testing and cost calculation before launching new products[25]. Production and Operations - The company operates three production plants, with one dedicated to standardized small-packaged sauce products, another for large-packaged sauces for food processing clients, and a third for powdered seasonings[23]. - The company employs a "make-to-order" production model, aligning production with sales orders to optimize inventory management[21]. - The company focuses on the customization, research and development, production, and sales of compound seasonings, primarily serving food processing and catering enterprises[21]. - The company exports its compound seasonings mainly to Japan, targeting food traders and enterprises, which then distribute to convenience stores, supermarkets, and restaurants[24]. Cash Flow and Liquidity - Cash and cash equivalents increased by 385.83% to ¥444,717,433.29, primarily due to the purchase of various financial products[37]. - The company has a net cash flow from operating activities of CNY 10.77 million, a decrease of 48.49% year-on-year[34]. - Net cash flow from investing activities increased by 111.94%, attributed to different distributions of funds in financial products and bank deposits[35]. - Net cash flow from financing activities rose by 127.44%, mainly due to new short-term loans for operational needs[35]. - The company reported a total of non-recurring gains and losses amounting to RMB 5,177,780.07, with government subsidies contributing RMB 2,260,267.14 and other non-operating income of RMB 52,261.22[19]. Market and Strategic Initiatives - The company is focusing on expanding its customized seasoning solutions for the growing chain restaurant market in China[30]. - The company is expanding its marketing channels to include supermarkets and e-commerce platforms to enhance brand influence and customer reach[44]. - The company plans to launch two new product lines in Q3 2021, aiming to capture a larger market share in the health food segment[51]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 25% increase in international sales by the end of 2022[49]. - The management team has extensive industry experience, contributing to the company's competitive advantage in product quality and customer service[31]. Shareholder and Governance - The company has committed to a three-year lock-up period for major shareholders, prohibiting the transfer or management of shares, effective from the date of listing[56]. - Major shareholders are allowed to reduce their holdings by no more than 25% of their total shares held at the end of the previous year, with a minimum selling price not lower than the IPO price[57]. - The integrity status of the company and its major shareholders is good, with no unfulfilled court judgments or significant overdue debts[60]. - The company has made commitments regarding the stability of its stock price for three years post-listing, as detailed in its prospectus[58]. - There are no significant lawsuits or arbitration matters reported during the reporting period[60]. Compliance and Risk Management - The company has not faced any administrative penalties related to environmental issues during the reporting period, indicating compliance with relevant regulations[54]. - The company faces risks related to food quality safety, market competition, and the need for timely responses to changing food safety standards[42][43]. - The company is committed to enhancing its risk management practices, as indicated by the allocation of reserves for general risks[106]. Financial Position - The total liabilities of the company were RMB 138,032,085.09, indicating a rise from the previous year's total[80]. - The total current liabilities were RMB 96,913,869.02, compared to RMB 56,772,833.86 at the end of 2020, indicating an increase in short-term financial obligations[80]. - The company's inventory increased to RMB 28,930,437.99 from RMB 24,437,951.58, showing a growth of approximately 18.5% year-over-year[79]. - The total equity attributable to shareholders was CNY 613,379,080.49, slightly up from CNY 608,974,555.90 at the end of 2020, reflecting a stable equity position[86]. - The company has maintained a solid capital reserve, with a capital surplus of 347,338,750.97, ensuring financial stability[102].

Financial Performance - The company's operating revenue for 2020 was RMB 263,276,257.14, a decrease of 7.83% compared to RMB 285,653,542.82 in 2019[20]. - The net profit attributable to shareholders of the listed company was RMB 81,250,497.71, down 4.72% from RMB 85,272,803.47 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was RMB 76,697,226.64, a decrease of 6.47% compared to RMB 82,003,412.09 in 2019[20]. - The cash flow from operating activities was RMB 68,897,231.15, down 16.38% from RMB 82,395,198.50 in the previous year[20]. - Basic earnings per share decreased by 21.15% to CNY 0.82 in 2020 from CNY 1.04 in 2019[22]. - Diluted earnings per share also decreased by 21.15% to CNY 0.82 in 2020 from CNY 1.04 in 2019[22]. - The weighted average return on equity dropped to 13.75% in 2020 from 26.47% in 2019, a decrease of 12.72 percentage points[22]. - The gross profit margin for the food manufacturing sector was 46.89%, a decrease of 3.33 percentage points compared to the previous year, primarily due to the adjustment of freight costs to operating costs[50]. - The company reported a total revenue of ¥263,158,214.54, with a gross margin of 46.89%, reflecting a decrease of 7.85% year-over-year[75]. - The company reported a total comprehensive income for 2020 of RMB 81,250,497.71, compared to RMB 85,272,803.47 in 2019, indicating a decline of 4.0%[189]. Assets and Liabilities - Total assets at the end of 2020 were RMB 711,492,033.40, an increase of 12.67% from RMB 631,482,574.24 at the end of 2019[21]. - The net assets attributable to shareholders of the listed company were RMB 608,974,555.90, an increase of 4.64% from RMB 581,961,582.74 at the end of 2019[21]. - Total liabilities increased to RMB 102,517,477.50 from RMB 49,520,991.50, representing a significant rise of approximately 106.5%[178]. - Non-current liabilities totaled RMB 45,744,643.64, up from RMB 785,600.29, indicating a substantial increase of approximately 5820%[178]. - Shareholders' equity reached RMB 608,974,555.90, compared to RMB 581,961,582.74 in 2019, reflecting a slight increase of about 4.6%[178]. Cash Flow - The company reported a cash flow from operating activities of CNY -4,353,309.79 in 2020, indicating a cash outflow[25]. - The net cash flow from operating activities was 68,897,231.15 CNY, down 16.38% compared to the previous year[66]. - The net cash flow from investment activities was CNY -106.85 million, a change of 71.43% compared to the previous year, primarily due to increased fixed asset investments[46]. - The total cash and cash equivalents decreased by 47,185,596.11 CNY, a decline of 1,121.67% compared to the previous year[67]. - The total cash inflow from investment activities in 2020 was ¥1,132,362,302.93, significantly up from ¥191,755,019.82 in 2019[196]. Revenue Sources - Revenue from food processing enterprise clients was 116.86 million yuan, a decline of 11.13% year-on-year[42]. - Revenue from restaurant enterprises was 101.15 million yuan, down 15.85% year-on-year[42]. - Revenue from supermarket clients increased by 109.53% year-on-year, reaching 23.20 million yuan[42]. - The sales revenue of sauce-type condiments decreased by 7.58% year-on-year, mainly due to reduced sales from restaurant clients impacted by the COVID-19 pandemic[52]. - The company experienced a 39.86% year-on-year decline in sales revenue for food additives, attributed to decreased export orders from food processing clients due to the pandemic[52]. Research and Development - The company has a dedicated R&D team focusing on product and process innovation, with multiple specialized departments[35]. - The total R&D investment was 9,540,069.83 CNY, which accounted for 3.62% of the annual operating revenue[64]. - Research and development expenses for 2020 were CNY 9,540,069.83, slightly down from CNY 9,612,502.30 in 2019[184]. - The company has established a professional R&D team to focus on new product development and formula improvements, but faces challenges in market acceptance and promotion[90]. Market Position and Strategy - The company aims to become a leader in the compound seasoning industry in China, focusing on expanding its market share in food processing, catering, and retail sectors[85]. - The company plans to enhance its marketing network and establish regional marketing experience centers to improve service quality and expand sales[86]. - Future investments will focus on technology research and product innovation to maintain competitive advantages in the compound seasoning market[86]. - The company has a strong market position in the customized compound seasoning business, but it anticipates increased competition as more companies enter the market[90]. Corporate Governance and Compliance - The independent auditor issued a standard unqualified opinion on the financial statements, confirming they fairly reflect the company's financial position[164]. - There were no significant deficiencies in internal control reported during the year[161]. - The company has not faced any penalties from securities regulatory authorities in the past three years[148]. - The company adheres to legal requirements for corporate governance, ensuring clear responsibilities for the shareholders' meeting and board of directors[154]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 3,966, a decrease from 4,174 at the end of the previous month[128]. - The top ten shareholders hold a total of 55,465,261 shares, representing 56.24% of the total shares, with 3,868,581 shares pledged[130]. - The company has not issued any new securities during the reporting period[127]. - The company has not reported any changes in related party transactions during the reporting period[108]. Social Responsibility and Environmental Impact - The company has established a quality policy of "product safety, quality first, customer-oriented, continuous improvement" and aims for "zero quality safety incidents" in its operations[115]. - The company has been recognized as an A-level taxpayer in Jimo City for several consecutive years, reflecting its commitment to tax compliance and social responsibility[116]. - The company actively engages in public welfare activities, including donations and support for local construction and poverty alleviation efforts[116]. - The company has implemented a comprehensive environmental monitoring system and has made efforts to improve its environmental management practices[117].

Financial Performance - Operating revenue for the period was ¥69,646,214.79, representing a significant increase of 51.53% year-on-year[5] - Net profit attributable to shareholders decreased by 18.06% to ¥11,912,638.99 compared to the same period last year[5] - Basic and diluted earnings per share remained stable at ¥0.15[5] - The weighted average return on equity decreased by 4.80 percentage points to 2.38%[5] - The company reported a significant reduction in non-operating income and expenses, with non-operating income down by 96.19%[14] - Total operating revenue for Q1 2021 reached ¥69,646,214.79, a significant increase of 51.6% compared to ¥45,962,450.97 in Q1 2020[25] - Net profit for Q1 2021 was ¥14,690,003.43, slightly down by 0.3% from ¥14,741,409.74 in Q1 2020[27] - Earnings per share for Q1 2021 remained stable at ¥0.15, unchanged from Q1 2020[27] - Total profit for Q1 2021 was CNY 17,380,467.30, slightly up from CNY 17,365,504.91 in Q1 2020[29] Assets and Liabilities - Total assets at the end of the reporting period reached ¥711,832,585.53, a slight increase of 0.05% compared to the end of the previous year[5] - Total current assets as of March 31, 2021, were CNY 508,716,948.30, down from CNY 564,196,618.29 at the end of 2020[17] - Total non-current assets increased to CNY 203,115,637.23 from CNY 147,295,415.11 year-over-year[18] - Total liabilities decreased to CNY 88,168,026.20 from CNY 102,517,477.50 year-over-year[19] - The company's equity attributable to shareholders increased to CNY 623,664,559.33 from CNY 608,974,555.90[19] - Total liabilities as of Q1 2021 amounted to 102,517,477.50 RMB, with total assets at 711,492,033.40 RMB[39] - The company's total equity as of Q1 2021 was 608,974,555.90 RMB, remaining stable compared to the previous year[39] Cash Flow - Cash flow from operating activities improved significantly, with a net cash flow of ¥63,898.70, a turnaround from a loss of ¥4,353,309.79 in the previous year[5] - Cash and cash equivalents at the end of the reporting period amounted to RMB 264,652,899.18, a significant increase of 189.12% from RMB 91,537,578.32 at the end of the previous year[12] - Cash inflow from investment activities totaled CNY 294,878,255.02, compared to CNY 192,482,171.33 in Q1 2020[33] - The net cash flow from investment activities for Q1 2021 was -45,290,064.98 RMB, slightly improved from -48,782,764.67 RMB in Q1 2020[35] - The cash flow from operating activities in Q1 2021 was impacted by a total outflow of 74,192,817.74 RMB, compared to 44,726,981.28 RMB in Q1 2020[34] Expenses - Operating costs increased by 63.73% to RMB 39,260,004.24, primarily due to higher sales revenue and transportation costs[13] - The company reported a 79.73% increase in taxes and surcharges, totaling RMB 855,403.66, driven by higher operating revenue[13] - The company’s management expenses surged by 171.45% to RMB 8,604,699.63, attributed to salary reforms and increased IT investment[13] - Research and development expenses rose by 48.73% to RMB 2,691,846.48, reflecting increased investment in new products and technologies[13] - Sales expenses increased to CNY 3,818,822.96, a rise of 28.4% from CNY 2,975,300.68 in Q1 2020[29] Shareholder Information - The number of shareholders at the end of the reporting period was 4,174, with the largest shareholder holding 56.24% of the shares[10] - The company received a government subsidy of ¥527,720.00 related to high-quality development incentives[8] - Non-recurring gains and losses totaled ¥2,777,364.44, primarily from government subsidies and financial product income[9] Strategic Initiatives - The company is focusing on expanding its market presence and enhancing product development strategies[5] - The company plans to continue expanding its product offerings and enhancing its market presence through increased R&D investment and strategic initiatives[13] - The company is not currently engaged in any new product development or market expansion strategies as per the latest report[43]

Financial Performance - Operating revenue for the first nine months was CNY 184,200,582.00, a decrease of 8.68% year-on-year[5] - Net profit attributable to shareholders for the first nine months was CNY 59,498,093.86, an increase of 7.01% compared to the same period last year[5] - Basic earnings per share for the reporting period was CNY 0.60, down 16.67% from CNY 0.72 in the previous year[6] - Total operating revenue for Q3 2020 was CNY 77,044,457.62, a decrease of 2.03% compared to CNY 78,637,370.23 in Q3 2019[24] - Net profit for Q3 2020 reached CNY 23,588,086.34, an increase of 19.00% compared to CNY 19,774,413.47 in Q3 2019[25] - The total profit for the first three quarters of 2020 was CNY 70.17 million, an increase of 6.5% from CNY 65.94 million in the same period of 2019[28] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 637,486,195.44, an increase of 0.95% compared to the end of the previous year[5] - Total liabilities reached ¥50,264,043.39, compared to ¥49,520,991.50, representing an increase of about 1.5%[19] - Current assets totaled ¥581,319,735.31, compared to ¥581,070,045.90 at the end of 2019, indicating a marginal increase of 0.4%[18] - The company’s total liabilities and equity reached CNY 637,241,182.88, indicating a stable financial position[25] Cash Flow - Net cash flow from operating activities for the first nine months was CNY 31,017,373.76, up 4.67% year-on-year[5] - The net cash flow from operating activities for the first three quarters of 2020 was CNY 30,976,434.20, compared to CNY 29,647,640.15 in the same period of 2019, reflecting a slight increase[35] - The company experienced a net decrease in cash and cash equivalents of -CNY 90,937,140.61 during the third quarter[35] - Cash and cash equivalents decreased by 70.84% to ¥148,889,206.25 compared to the end of the previous year, primarily due to a reduction in structured deposits[13] Shareholder Information - The total number of shareholders at the end of the reporting period was 4,719[11] - The largest shareholder, Qingdao Boya Investment Co., Ltd., holds 56.24% of the shares, with 55,465,261 shares pledged[11] Research and Development - The company received government subsidies amounting to CNY 2,875,606.85 related to R&D investments[8] - Research and development expenses for the first three quarters of 2020 were CNY 6,934,685.62, a decrease from CNY 7,240,743.82 in the same period of 2019[24] Other Financial Metrics - The company reported a decrease in weighted average return on net assets to 10.02% from 23.67% in the previous year[6] - Other income rose by 127.58% to ¥1,275,606.85, mainly due to an increase in government subsidies received during the reporting period[14] - The company reported a decrease in employee compensation payable from ¥8,238,149.09 to ¥5,784,264.91, a reduction of about 29.5%[19] Changes in Accounting Standards - The company executed a new revenue standard, resulting in a 100% decrease in advance receipts, which were adjusted to contract liabilities[14] - The company has implemented new revenue and leasing standards starting from 2020, which may impact future financial reporting[35] - There were no adjustments required for the new revenue and leasing standards as of the reporting date[44]