证券代码：000048 证券简称：京基智农 编号：2022-016 深圳市京基智农时代股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------| | 投资者关系活动类别 | 特定对象调研（含个人投资者来访） □媒体采访 业绩说明会 □新闻发布会 □路演活动 □现场参观 其他（电话会议） | 分析师会议 | | 参与人 / 单位名称 | 天风证券 吴立 黄建霖 陈炼 冯佳文 重庆金科投资 李翌 中新融创资本 李帆 浙江旌安投资 童诚婧 玄卜投资 郭昕宇 五矿国际信托 康乐 深圳前 ...

证券代码：000048 证券简称：京基智农 编号：2022-017 - 1 - 深圳市京基智农时代股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------| | 投资者关系活动类别 | 特定对象调研（含个人投资者来访） □媒体采访 业绩说明会 □新闻发布会 □路演活动 现场参观 其他（电 ...

证券代码：000048 证券简称：京基智农 公告编号：2022-037 深圳市京基智农时代股份有限公司 关于参加深圳辖区上市公司 2022 年投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 为进一步加强与投资者的互动交流，深圳市京基智农时代股份有限公司（以 记载、误导性陈述或重大遗漏。 下简称"公司"）将参加由深圳证监局指导、深圳上市公司协会与深圳市全景网 络有限公司联合举办的"2022 年深圳辖区上市公司投资者网上集体接待日活动"， 现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2022 年 11 月 9 日（周三）16:30-17:30。届时公司 高管将在线就公司业绩、公司治理、发展战略、经营状况等投资者关心的问题与 投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告。 深圳市京基智农时 ...

证券代码：000048 证券简称：京基智农 编号：2022-018 深圳市京基智农时代股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------------|----------------------------------------------------------------------------------------------------------------|------------| | 投资者关系活动类别 | 特定对象调研（含个人投资者来访） □媒体采访 业绩说明会 □新闻发布会 □路演活动 现场参观 其他（电话会议） | 分析师会议 | | | 长江证券 陈佳 高一岑 | | | | 方正证券 娄倩 邱星皓 | | | | 新华基金 周晓东 | | | | 华商基金 常宁 | | | | 北信瑞丰基金 孙程 | | | | 农银汇理基金 仲恒 | | | | 德邦基金 齐欢 | | | | 永赢基金 李琦 | | | 参与人 / 单位名称 | 坚果投资 盖伟伟 深圳明达资管 肖铎 上海鼎锋资管 肖珮菁 万方资产 肖琳 同犇资本 刘慧萍 ...

深圳市京基智农时代股份有限公司 2022 年第三季度报告 证券代码：000048 证券简称：京基智农 公告编号：2022-034 深圳市京基智农时代股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1、董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2、公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）声明：保证季度报告中财务信息的真实、准确、 完整。 3、第三季度报告是否经过审计 □是 否 1 深圳市京基智农时代股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |------------------------------------------------------|-------------------|------------------------| ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,094,718,617.20, a decrease of 57.45% compared to ¥2,572,948,157.21 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was -¥184,210,820.93, representing a decline of 137.64% from ¥489,431,861.25 in the previous year[27]. - The basic earnings per share for the reporting period was -¥0.3521, down 137.64% from ¥0.9354 in the same period last year[27]. - The diluted earnings per share also stood at -¥0.3521, reflecting the same decline as the basic earnings per share[27]. - The weighted average return on net assets was -8.77%, a decrease of 26.93% from 18.16% in the previous year[27]. - The company reported a net profit of -104,240,880.25 CNY from non-operating asset disposal losses during the reporting period[30]. - The company achieved a net profit growth of 42% in its feed business, despite facing challenges from high commodity prices and market competition[43]. - The company reported a significant decrease in sales expenses by 96.60% to ¥6,474,386.53, linked to the lack of real estate project revenue recognition[63]. - The company reported a net loss of approximately ¥30.46 million from investment income, primarily due to the transfer of equity in a subsidiary[71]. - The company reported a total comprehensive income attributable to the parent company of CNY -176,652,619.97 for the first half of 2022, compared to CNY 494,148,357.13 in the same period of 2021[197]. Assets and Liabilities - The total assets at the end of the reporting period were ¥15,189,815,000.20, reflecting a 2.41% increase from ¥14,832,560,318.32 at the end of the previous year[27]. - The company's total assets included cash of approximately ¥1.81 billion, down 11.87% from the previous year, mainly due to investments in pig farming projects and dividend distributions[72]. - Inventory increased to approximately ¥5.39 billion, representing 35.51% of total assets, up from 28.98% the previous year, driven by real estate project expenditures and biological asset increases in pig farming[72]. - Contract liabilities rose to approximately ¥7.93 billion, accounting for 52.21% of total assets, due to cash received from property sales[72]. - The company's total equity decreased to CNY 1,692,482,994.11 from CNY 2,559,146,639.08, representing a decline of 33.8%[188]. - The total current liabilities rose to approximately CNY 3.12 billion, compared to CNY 2.98 billion at the beginning of the year, indicating an increase of about 4.7%[182]. Operational Highlights - The company sold a total of 50.89 million pigs during the reporting period, including 9.84 million piglets[40]. - The company has established four major pig breeding bases in Guangdong and surrounding areas, with an annual production capacity exceeding 2 million pigs[37]. - The company’s feed production volume for the first half of 2022 was 2,332 million tons, a year-on-year decrease of 9.4%[39]. - The company’s total pig feed production volume was 945 million tons, down 12.4% year-on-year[39]. - The company’s chicken seedling output was 9.92 million chicks, a year-on-year decrease of 21%[43]. - The company has a total of approximately 90,900 breeding sows, maintaining a leading position in the region[52]. Strategic Initiatives - The company aims to enhance production capacity utilization and optimize the breeding structure in its modern agriculture projects[45]. - The company plans to focus on the construction and sales of the "Shanhai Gongguan" and "Shanhai Yuyuan" projects, ensuring timely delivery and increasing sales efforts[45]. - The company has established a full industry chain from breeding to feed to high-quality livestock products, primarily serving the Guangdong-Hong Kong-Macao Greater Bay Area market[49]. - The company has signed a strategic cooperation framework agreement with the Shenzhen Market Supervision Administration to ensure stable supply of pork products during the pandemic[50]. - The company is enhancing its biosecurity measures to mitigate risks from animal diseases, including establishing a dedicated management team for African swine fever[91]. Research and Development - Research and development investment rose by 14.54% to ¥17,860,133.55, indicating a commitment to innovation[63]. - The company has developed a comprehensive feed formula that effectively reduces breeding costs by providing balanced nutrition tailored to different growth stages of pigs[54]. - Research and development expenses increased to CNY 17,860,133.55 in the first half of 2022, compared to CNY 15,593,317.91 in the previous year, reflecting a focus on innovation[196]. Social Responsibility and Sustainability - The company actively engaged in social responsibility initiatives, donating over 300,000 yuan in funds and materials for various public welfare activities[110]. - The company is committed to environmental protection by implementing an ecological farming model and transforming waste into resources, contributing to local agricultural development[110]. - The company has built a comprehensive pig industry chain project, ensuring traceability from farm to table and providing high-quality pork products to consumers[109]. Corporate Governance - The annual shareholders' meeting had a participation rate of 73.46% on April 8, 2022[97]. - The company has fulfilled all commitments made by its actual controller and shareholders during the reporting period[117]. - The company reported no non-operating fund occupation by controlling shareholders or related parties[120]. - The company has no violations regarding external guarantees during the reporting period[120]. - The company has not engaged in any significant equity or non-equity investments during the reporting period[82][83].

Financial Performance - The company's operating revenue for Q1 2022 was ¥460,365,527.64, a decrease of 77.21% compared to ¥2,020,310,009.13 in the same period last year[4] - The net profit attributable to shareholders was -¥141,770,640.19, representing a decline of 134.95% from ¥405,613,994.59 in the previous year[4] - The company's basic earnings per share were -¥0.2709, down 134.95% from ¥0.7752 in the same period last year[4] - The net profit for Q1 2022 was a loss of CNY 138,092,093.41, compared to a profit of CNY 408,096,968.68 in Q1 2021, indicating a substantial decline in profitability[20] - The company reported a gross loss of CNY 129,792,600.37 for Q1 2022, contrasting with a gross profit of CNY 560,000,959.87 in the previous year[20] Cash Flow - The net cash flow from operating activities increased by 148.30%, reaching ¥289,115,016.67, compared to -¥598,524,003.01 in the same period last year[4] - Cash flow from operating activities for Q1 2022 was CNY 1,516,072,450.59, a significant increase from CNY 611,388,608.57 in Q1 2021[24] - The company experienced a net increase in cash and cash equivalents of -¥436,216,917.26 for Q1 2022, compared to -¥1,807,180,980.63 in Q1 2021[26] - The cash flow from financing activities showed a net outflow of -¥120,858,700.63, contrasting with a net inflow of ¥331,172,912.04 in the previous year[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥15,160,052,207.17, an increase of 2.21% from ¥14,832,560,318.32 at the end of the previous year[4] - The total liabilities increased to CNY 12,738,810,061.55 in Q1 2022 from CNY 12,273,413,679.24 in the previous year, reflecting a growth of 3.78%[20] - The total current liabilities have increased to approximately RMB 11.70 billion, compared to RMB 10.99 billion at the beginning of the year, representing an increase of about 6.49%[17] - The total equity attributable to shareholders decreased to CNY 2,391,198,633.59 in Q1 2022 from CNY 2,532,781,673.83 in Q1 2021, a decline of 5.57%[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 11,280, with the largest shareholder, Jingji Group Co., Ltd., holding 43.04% of shares, amounting to 225,191,557 shares[9] - The company has a significant portion of its shares pledged, with Jingji Group having 153,383,924 shares pledged[9] Operational Costs and Expenses - Total operating costs for Q1 2022 amounted to CNY 574,678,980.32, representing a 39.5% increase from CNY 1,461,280,732.19 in Q1 2021[19] - The financial expenses increased by 960.66% to ¥10,795,573.20, primarily due to rising interest costs associated with the pig farming project[8] - Research and development expenses for Q1 2022 were CNY 7,408,095.50, slightly up from CNY 7,085,084.46 in the same period last year[20] Inventory and Investments - The inventory at the end of the reporting period is approximately RMB 4.62 billion, up from RMB 4.30 billion at the beginning of the year, indicating an increase of about 7.51%[16] - The company has ongoing investments in fixed assets, with a total of approximately RMB 3.46 billion at the end of the reporting period, up from RMB 3.20 billion[16] Other Financial Metrics - The weighted average return on equity was -5.76%, a decrease of 19.49% compared to 13.73% in the previous year[4] - The company recorded a loss of -¥22,099,594.09 from asset disposals, a significant increase of 551.20% compared to the previous year[8] - Other comprehensive income after tax for Q1 2022 was CNY 187,599.95, compared to a loss of CNY 139,748.99 in the same period last year[23] Audit Information - The company did not conduct an audit for the Q1 2022 report[27]

Financial Performance - The company's operating revenue for 2021 was ¥3,221,474,431.12, a decrease of 20.88% compared to 2020[23]. - The net profit attributable to shareholders for 2021 was ¥389,339,568.12, down 55.07% from ¥866,563,499.30 in 2020[23]. - The net profit after deducting non-recurring gains and losses was ¥339,151,964.74, a decline of 58.54% compared to the previous year[23]. - The average return on equity was 15.00%, down from 35.46% in 2020, indicating a significant decline in profitability[23]. - The total operating revenue for 2021 was approximately CNY 3.22 billion, a decrease of 20.88% compared to CNY 4.07 billion in 2020[64]. - The revenue from feed production was CNY 745.08 million, accounting for 23.13% of total revenue, with a year-on-year increase of 7.98%[66]. - Real estate development revenue was CNY 2.22 billion, representing 68.80% of total revenue, with a year-on-year decrease of 31.20%[66]. - The breeding industry saw a significant revenue increase of 228.81%, reaching CNY 241.26 million, up from CNY 73.37 million in 2020[66]. Cash Flow and Assets - The net cash flow from operating activities increased by 46.21% to ¥2,640,721,394.56 in 2021[23]. - The total assets of the company at the end of 2021 were ¥14,832,560,318.32, representing a 49.77% increase from the previous year[24]. - The net cash flow from investment activities was -¥2,562,033,417.56, representing a significant increase of 849.31% compared to -¥269,883,819.01 in 2020[81]. - The total cash inflow from financing activities was ¥1,407,810,475.28, a 65.94% increase from ¥848,410,150.32 in the previous year[81]. - The company's cash and cash equivalents decreased by ¥24,276,224.04, a decline of 101.19% compared to an increase of ¥2,041,513,299.51 in the previous year[81]. - The inventory increased to ¥4,298,519,272.40, accounting for 28.98% of total assets, up from 25.92% in the previous year[88]. - The contract liabilities increased significantly to ¥6,093,887,836.36, representing 41.08% of total assets, up from 15.88% at the beginning of the year[88]. Business Operations and Strategy - The company has expanded its business scope to include livestock breeding, sales, and pork slaughtering, as well as meat product packaging, cold storage, and transportation[21]. - The company aims to achieve a pig output of over 1 million heads in 2022 and over 2 million heads in 2023[104]. - The company plans to enhance production capacity utilization and optimize pig herd structure to ensure stable supply[105]. - The company is committed to building a traceable quality safety system across the entire pig industry chain[105]. - The company has established a full industry chain for livestock production, focusing on pig breeding, feed, and high-quality livestock products, primarily serving the Guangdong-Hong Kong-Macao Greater Bay Area market[54]. - The company has implemented a strategy to optimize its product structure and enhance its market competitiveness in the feed industry[46]. - The company is expected to maintain a stable and healthy development in the real estate market, adhering to the "housing is for living, not for speculation" policy[44]. Risk Management - The company emphasizes the risks associated with raw material price fluctuations and the cyclical volatility of live pig prices, which may impact future performance[5]. - The company is facing challenges due to high raw material costs, with corn and soybean meal prices remaining elevated, impacting profitability[41]. - The cyclical nature of pig prices poses a risk, with the company planning to enhance research and development to improve breeding efficiency and manage cash flow effectively[110]. - The company faces macroeconomic risks due to ongoing challenges from the COVID-19 pandemic and geopolitical tensions, which may impact business development[109]. - The company has established a dedicated team for African swine fever prevention, focusing on improving biosecurity measures to mitigate disease risks[110]. Governance and Compliance - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management team[4]. - The company operates under the Shenzhen Stock Exchange's self-regulatory guidelines for the livestock and real estate industries[4]. - The company has established a sound independent financial accounting system, allowing for independent financial decision-making and management[116]. - The company has revised its articles of association and related rules to ensure compliance with legal regulations and improve corporate governance since April 2019[175]. - The company’s board of directors and supervisory board operate independently, ensuring effective management without interference from the controlling shareholder[117]. - The company has not reported any significant discrepancies between its governance practices and the regulatory requirements set forth by the China Securities Regulatory Commission[115]. Employee and Social Responsibility - The company has implemented a training program aimed at enhancing employee skills and supporting business development, with a focus on a dual-phase 180-day training for new graduates[157]. - The company has established a comprehensive employee compensation structure, including performance bonuses and welfare benefits[188]. - The company donated nearly 3 million yuan for social welfare activities, including support for education and assistance to the elderly[191]. - The company is actively involved in rural revitalization projects, creating quality employment opportunities and supporting local economic development[193]. - The company has provided 130,000 yuan in educational funding to support local students and established partnerships with educational institutions[193]. Future Outlook - The company provided a performance guidance for 2022, expecting a revenue growth of 10% to 12%[126]. - The company plans to invest 200 million RMB in new technology development over the next three years[124]. - The company aims to strengthen channel construction in the feed business, focusing on key products and regions, and expanding direct sales in large markets[106]. - The company plans to continue work on the Shanhai Shangyuan Phase III and IV projects, with the Shanhai Yuyuan project currently in pre-sale and expected to deliver units within the year[108].

Revenue and Profit - Revenue for Q3 2021 was CNY 307,318,314.99, a decrease of 14.18% compared to the same period last year[3] - Net profit attributable to shareholders was CNY -113,026,860.96, a decline of 506.78% year-on-year[3] - Net profit excluding non-recurring items was CNY -74,318,714.34, down 447.23% from the previous year[3] - The company reported a significant increase in revenue for the first nine months of 2021, totaling CNY 2,880,266,472.20, up 141.60% year-on-year[11] - Total operating revenue for the third quarter reached CNY 2,880,266,472.20, a significant increase from CNY 1,192,172,469.24 in the same period last year, representing a growth of approximately 141.8%[20] - Net profit attributable to the parent company was CNY 376,405,000.29, compared to CNY 165,879,175.72 in the previous year, marking an increase of about 126.7%[21] - The total comprehensive income for the quarter was CNY 383,742,254.76, compared to CNY 175,087,354.05 in the previous year, indicating a growth of about 118.9%[22] - The basic earnings per share for the quarter was CNY 0.7194, compared to CNY 0.3170 in the same quarter last year, representing an increase of approximately 126.5%[22] Assets and Liabilities - Total assets increased to CNY 12,241,093,812.61, representing a growth of 23.60% compared to the end of the previous year[3] - Owner's equity attributable to shareholders decreased to CNY 2,525,412,930.42, down 8.25% from the end of last year[3] - Total liabilities increased to CNY 9,691,538,330.30 from CNY 7,122,525,592.99, reflecting a growth of approximately 36%[20] - The company's total assets reached CNY 12,241,093,812.61, up from CNY 9,903,753,908.17, indicating an increase of around 23.7%[20] - Current assets totaled CNY 6,601,836,883.40, a slight decrease from CNY 6,780,783,587.67 in the previous period[18] - Non-current assets amounted to CNY 5,639,256,929.21, up from CNY 3,122,970,320.50, indicating significant investment in long-term assets[18] - Total cash and cash equivalents at the end of the period were 2,450,753,767.43 yuan, compared to 2,357,504,338.45 yuan at the end of the previous period, reflecting a net increase[27] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 682,833,791.31, a decrease of 58.53% compared to the same period last year[3] - The net cash flow from operating activities was 682,833,791.31 yuan, a decrease of 58.6% compared to the previous period's 1,646,574,486.47 yuan[26] - Total cash inflow from investment activities was 3,441,261,974.18 yuan, down 47.5% from 6,555,241,404.21 yuan in the previous period[26] - The net cash flow from investment activities was -2,353,679,962.37 yuan, compared to -513,364,163.99 yuan in the previous period, indicating a significant increase in cash outflow[26] - Cash outflow from financing activities totaled 741,199,760.23 yuan, an increase of 137.5% from 312,643,631.25 yuan in the previous period[27] - The net cash flow from financing activities was 581,100,317.05 yuan, a turnaround from -280,738,185.25 yuan in the previous period[27] Expenses - The company’s financial expenses increased significantly, with a reported amount of CNY 3,705,128.08, reflecting a 112.69% increase due to higher bank loan interest expenses[11] - The company reported a significant increase in sales expenses, which rose to CNY 201,232,779.51 from CNY 23,221,814.12, reflecting a growth of about 767.5%[20] - Research and development expenses for the quarter were CNY 23,952,220.40, compared to CNY 20,114,814.56 in the previous year, showing an increase of about 14.4%[20] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,192, with the top ten shareholders holding significant stakes in the company[15] - Cash distributed as dividends and interest payments rose by 114.54% to CNY 670,740,229.43, attributed to an increase in dividend distribution during the reporting period[12] - The company paid 670,740,229.43 yuan in dividends and interest, up from 312,634,835.57 yuan in the previous period, indicating a higher return to shareholders[27] Other Financial Metrics - The company’s cash and cash equivalents decreased by 30.78% to CNY 2,450,753,767.43, primarily due to investments in pig farming projects and tax payments[6] - The company’s fixed assets increased by 331.86% to CNY 2,324,164,880.02, mainly due to the construction of pig farming projects[6] - The cash paid for the construction of fixed assets, intangible assets, and other long-term assets increased by 102.60% to CNY 2,003,141,936.55, primarily due to increased investment in pig farming projects during the reporting period[12] - Cash received from borrowings surged by 4044.43% to CNY 1,322,300,077.28, mainly due to increased loans for real estate and pig farming projects[12] - Cash paid for debt repayment increased significantly by 582563.38% to CNY 51,249,206.24, reflecting a rise in loan repayments during the reporting period[12] Audit and Reliability - The report for the third quarter was not audited, which may affect the reliability of the financial data presented[33]

Financial Performance - The net profit attributable to shareholders for the reporting period was ¥2,572,948,157.21, representing an increase of 208.48% compared to the same period last year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥489,431,861.25, a 254.42% increase year-on-year[23]. - The basic earnings per share for the reporting period was ¥0.9354, reflecting a growth of 254.45% compared to the previous year[23]. - The weighted average return on equity was 18.16%, an increase of 11.51% from the previous year[23]. - The company reported a total profit of ¥675,833,811.56 for the first half of 2021, compared to ¥190,554,215.25 in the same period of 2020, indicating an increase of approximately 254.5%[163]. - The company's total comprehensive income for the first half of 2021 was ¥494,148,357.13, compared to ¥143,023,699.57 in the first half of 2020, reflecting an increase of about 245.5%[164]. Revenue and Costs - The company's operating revenue for the reporting period reached CNY 2,572,948,157.21, a significant increase of 208.48% compared to CNY 834,061,185.07 in the same period last year, primarily due to the recognition of revenue from real estate projects[49]. - Operating costs amounted to CNY 1,011,754,142.32, reflecting a 99.26% increase from CNY 507,754,371.20, corresponding to the rise in revenue from real estate projects[49]. - The total operating costs for the first half of 2021 were ¥1,879,244,351.88, compared to ¥690,195,770.54 in the same period of 2020, which is an increase of approximately 172.5%[161]. Cash Flow - The net cash flow from operating activities was -¥1,661,946,026.24, a decrease of 246.03% compared to the same period last year[23]. - Cash flow from operating activities showed a net outflow of ¥1,661,946,026.24 in the first half of 2021, contrasting with a net inflow of ¥1,138,074,256.29 in the first half of 2020[168]. - The company reported a significant decrease in cash flow from operations, which may affect future liquidity and investment capabilities[174]. Assets and Liabilities - The total assets at the end of the reporting period were ¥9,066,417,051.25, down 8.45% from the end of the previous year[23]. - The net assets attributable to shareholders at the end of the reporting period were ¥2,638,478,478.96, a decrease of 4.14% from the previous year[23]. - Total liabilities decreased from CNY 7,122,525,592.99 to CNY 6,404,577,975.44, a reduction of approximately 10%[153]. Strategic Initiatives - The company is committed to developing its agricultural and real estate sectors, with strategic partnerships to enhance operational efficiency[30]. - The company plans to develop multiple pig industry chain projects in Guangdong and surrounding provinces, focusing on high standards and efficiency in smart agriculture[39]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the provided data[167]. Risks and Challenges - The company faces risks related to raw material cost fluctuations and pig price cycle volatility[6]. - The company is exposed to epidemic risks in pig farming, particularly from African swine fever, which poses a significant operational risk until an effective vaccine is developed[62]. - The real estate sector is heavily influenced by national macro-control policies, and the company will closely monitor policy changes to adjust its business strategy accordingly[63]. Shareholder Information - The largest shareholder, Jingji Group, holds 43.04% of the shares, with a total of 225,191,557 shares[123]. - The total number of shares increased from 402,491,731 to 523,239,250 due to the implementation of the 2020 profit distribution plan, resulting in a total increase of 120,747,519 shares[121]. - The company reported a total of 12,995 shareholders at the end of the reporting period[123]. Corporate Governance - The company has not made any adjustments or restatements to previous years' accounting data[24]. - There were no significant environmental issues or administrative penalties reported during the reporting period[74]. - The company has not engaged in any significant equity or non-equity investments during the reporting period[61].