Dividend Distribution - The company plans to distribute a cash dividend of 7.5 RMB per 10 shares (including tax) based on a total share capital of 402,491,731 shares as of December 31, 2019[5]. - In 2019, the company distributed cash dividends of 301,868,798.25 yuan (including tax), which accounted for 27.42% of the net profit attributable to ordinary shareholders[103]. - The company’s cash dividend policy is compliant with relevant laws and regulations, ensuring the protection of shareholders' rights[105]. Financial Performance - The company's operating revenue for 2019 reached ¥4,918,723,380.78, representing a 43.11% increase compared to the previous year[20]. - Net profit attributable to shareholders was ¥1,100,831,801.48, marking a significant increase of 151.68% year-over-year[20]. - The net profit after deducting non-recurring gains and losses was ¥986,833,457.76, up 125.34% from the previous year[20]. - The basic earnings per share for 2019 was ¥2.7350, reflecting a 151.68% increase compared to ¥1.0867 in 2018[20]. - Total assets at the end of 2019 amounted to ¥6,471,993,600.37, a 24.88% increase from the previous year[21]. - The net assets attributable to shareholders reached ¥2,134,846,547.50, showing a substantial growth of 110.28% year-over-year[21]. - The company reported a weighted average return on equity of 70.35%, an increase of 15.40% compared to the previous year[20]. Business Operations - The company has not changed its main business operations since its listing, which includes poultry, real estate development, and import/export activities[18]. - The company has engaged Da Hua Accounting Firm for auditing services during the reporting period[19]. - The company has confirmed that all board members attended the meeting to review the annual report, ensuring accountability for the report's accuracy[4]. - The company emphasizes the importance of reading the full annual report, particularly regarding future development plans and risk factors[5]. - The company has not experienced any changes in its controlling shareholders during the reporting period[18]. - The company operates in compliance with the Shenzhen Stock Exchange's disclosure requirements for its business sectors[5]. Strategic Initiatives - The company engaged in strategic cooperation with Jingji Real Estate for real estate development and operations starting June 2019[32]. - The main business segments include modern agriculture, real estate, financial investment, and public utilities, with a focus on the agricultural sector as the strategic core[32]. - The company has initiated the construction of a pig farming project, impacting the in-progress construction assets[34]. - The company signed framework agreements for pig industry chain projects across multiple regions, with a planned annual output of 5.4 million pigs[42]. - The company has optimized its product structure, focusing on special aquatic feed and antibiotic-free feed, leading to a significant increase in aquatic feed sales[43]. - The company has established a technology research institute in collaboration with South China Agricultural University, focusing on pig breeding and biosecurity systems[37]. Market Challenges - The company reported significant risks related to raw material cost fluctuations and pig price cycle volatility, which may impact future performance[5]. - The feed industry faces challenges due to overcapacity and stringent environmental regulations, impacting market dynamics and operational models[86]. - The African swine fever has significantly impacted the industry, leading to deep losses for some companies and providing opportunities for leading enterprises to expand through horizontal integration[87]. Compliance and Governance - The company’s financial report is guaranteed to be true, accurate, and complete by its management team[4]. - The company has not made any adjustments or restatements to previous years' accounting data[19]. - The company has maintained compliance with all commitments made during its public offering and financing processes[108]. - The company has committed to fair and transparent related-party transactions, ensuring no harm to the interests of minority shareholders[108]. - The company has not reported any non-operating fund occupation by the controlling shareholder or its affiliates during the reporting period[110]. Investor Relations - The company received a total of 135 inquiries from investors during the reporting period, primarily regarding company strategy, business development, and financial reports[96]. - The company has maintained effective communication with investors through various channels, ensuring equal access to information[166]. Social Responsibility - The company donated 10 million CNY to support the development of traditional Chinese medicine, emphasizing its commitment to social responsibility[168]. - The company has committed to food safety and quality, participating in the establishment of food safety standards in Shenzhen[168]. Real Estate Development - Real estate development contributed CNY 3,414,140,594.23, accounting for 69.41% of total revenue, with a year-on-year growth of 90.72%[48]. - The company plans to continue expanding its real estate projects and has adjusted financing strategies to support ongoing sales[46]. - The average occupancy rate for the commercial properties in Shan Hai Shang Cheng was 21.94%[48]. Research and Development - R&D expenses rose by 18.06% to CNY 29,754,031.26, reflecting increased investment in research projects[66]. - The number of R&D personnel remained stable at 51, with R&D investment accounting for 0.60% of operating revenue[67]. Financial Management - The company reported a fair value of financial assets at ¥4,376,198,244.00, with a change in value of ¥688,494,063.89 during the reporting period[75]. - The company has engaged in cash asset management, with a total of RMB 118,295.2 million in entrusted financial products, of which RMB 88,295.2 million are bank financial products[159]. - The total amount of entrusted financial management reached 701.43 million CNY, with an expected return of 136.27 million CNY, and an actual profit of 134.52 million CNY during the reporting period[161].

Financial Performance - The company's operating revenue for Q1 2020 was ¥414,257,688.63, a decrease of 42.46% compared to ¥719,930,211.46 in the same period last year[8] - Net profit attributable to shareholders was ¥59,393,932.19, down 46.44% from ¥110,883,146.40 year-on-year[8] - Basic earnings per share decreased to ¥0.1476, a drop of 46.42% from ¥0.2755 in the same period last year[8] - Revenue decreased by 42.46% to ¥414,257,688.63 from ¥719,930,211.46 primarily due to a decline in property sales[16] - The total operating profit for Q1 2020 was approximately ¥90 million, a decrease of 41% compared to ¥152 million in the same period last year[42] - The net profit for Q1 2020 was approximately ¥69 million, down 39% from ¥113 million in Q1 2019[42] - The total comprehensive income for Q1 2020 was approximately ¥69 million, compared to ¥113 million in the same period last year, reflecting a decrease of 39%[43] Cash Flow - The net cash flow from operating activities was ¥286,990,215.24, reflecting a significant decline of 70.75% compared to ¥981,186,606.69 in the previous year[8] - Cash flow from operating activities for Q1 2020 was approximately ¥287 million, significantly lower than ¥981 million in Q1 2019, indicating a decline of 71%[45] - The net cash flow from operating activities decreased to ¥228,913,663.18 from ¥1,005,876,729.04, representing a decline of approximately 77.3% year-over-year[50] - Cash flow from investing activities showed a net outflow of approximately ¥187 million in Q1 2020, compared to a net outflow of approximately ¥157 million in the same period last year[46] - Cash flow from financing activities resulted in a net inflow of approximately ¥21.6 million in Q1 2020, contrasting with a net outflow of approximately ¥272 million in Q1 2019[46] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,918,027,244.52, an increase of 6.89% from ¥6,471,993,600.37 at the end of the previous year[8] - Current liabilities rose to CNY 4,286,698,829.74, compared to CNY 3,963,956,929.56, indicating an increase of about 8.2%[31] - The total liabilities reached CNY 4,432,855,689.87, an increase from CNY 4,094,259,640.94, representing a growth of approximately 8.3%[31] - The company's total equity reached CNY 2,485,171,554.65, up from CNY 2,377,733,959.43, reflecting a growth of approximately 4.5%[32] - The company's total non-current assets amounted to CNY 1,279,473,942.90, up from CNY 1,168,365,803.20, indicating an increase of about 9.5%[30] Shareholder Information - The top shareholder, Jingji Group Co., Ltd., holds 41.65% of the shares, while the second-largest shareholder, Shenzhen Jingji Times Industry Co., Ltd., holds 29.85%[10] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11] Other Income and Expenses - The company reported non-operating income of ¥7,166,634.59, which includes gains from non-current asset disposals and government subsidies[8] - Investment income increased by 65.63% to ¥9,591,430.84 from ¥5,790,921.16, driven by higher returns from financial products[16] - The income tax expense for Q1 2020 was approximately ¥19 million, down from ¥38 million in Q1 2019, reflecting a decrease of 50%[42] Inventory and Cash Equivalents - The company's inventory decreased slightly to CNY 2,419,425,291.17 from CNY 2,448,152,242.69, a decline of about 1.2%[33] - Cash and cash equivalents increased by 8.07% to ¥1,626,517,319.84 from ¥1,505,032,201.19 due to increased mortgage repayments during the reporting period[16] - Cash and cash equivalents at the end of the period totaled ¥1,492,209,784.98, down from ¥1,874,110,215.07, indicating a decrease of approximately 20.4%[51] Changes in Accounting Standards - The company executed new revenue and leasing standards starting January 1, 2020, impacting the financial statements and retained earnings[54] - The company began implementing new revenue recognition standards on January 1, 2020, affecting the financial statements[60]

Financial Performance - Net profit attributable to shareholders surged by 971.50% to CNY 150,052,284.93 compared to the same period last year[11]. - Operating revenue for the period reached CNY 552,769,067.64, a year-on-year increase of 15.15%[11]. - Basic earnings per share rose by 971.50% to CNY 0.3840[11]. - The weighted average return on equity increased to 11.97%, a rise of 467.74% compared to the previous year[11]. - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 488.31% to CNY 66,288,491.84[11]. - The company reported a significant investment income of CNY 121,244,069.67, compared to CNY 3,452,482.54 in the same period last year[56]. - The company reported a significant increase in cash received from investment recoveries, totaling CNY 2,556,051,466.69, a 1176% increase from CNY 200,315,715.28[25]. - The company reported a net profit for Q3 2019 of CNY 162,780,208.18, a significant recovery from a net loss of CNY 10,396,764.84 in the previous year[56]. Assets and Liabilities - Total assets increased by 24.53% to CNY 6,453,989,293.42 compared to the end of the previous year[11]. - Current liabilities rose to CNY 4,765,506,251.44, compared to CNY 3,782,581,535.40, marking an increase of about 26%[47]. - The total liabilities increased to CNY 4,930,117,777.23 from CNY 3,957,123,227.41, marking an increase of about 24.5%[47]. - The company's total equity attributable to shareholders reached CNY 1,333,596,354.71, up from CNY 1,015,258,130.81, reflecting a growth of approximately 31.3%[48]. - The total amount of entrusted financial management reached ¥113,766,000, with an outstanding balance of ¥91,321,910[34]. - The company's long-term equity investments decreased to CNY 724,559,534.45 from CNY 768,716,277.46, a decline of about 5.8%[52]. - The total non-current assets decreased to CNY 1,076,437,044.82 from CNY 1,200,595,057.85, indicating a decline of approximately 10.3%[46]. Cash Flow - Cash flow from operating activities reached CNY 970,929,914.83, an increase of 18.79% year-to-date[11]. - The company reported a cash outflow of CNY 3,204,777,380.00 for investment payments, a significant increase from CNY 206,100,000.00 in Q3 2018[74]. - Cash flow from financing activities resulted in a net outflow of CNY 309,676,258.25, compared to a net inflow of CNY 373,979,311.76 in the previous year[75]. - The total cash and cash equivalents at the end of Q3 2019 stood at CNY 2,002,397,807.63, down from CNY 2,286,185,451.86 at the end of Q3 2018[75]. - The net cash flow from investment activities was negative CNY 446,975,838.58, worsening from negative CNY 105,950,222.43 year-over-year[74]. Investments and Projects - The company has signed investment framework agreements for a 1 million head pig industry chain project and a pig farming project with local governments, indicating future expansion plans[27]. - The company plans to invest significantly in financial products, with cash outflows for investments reaching CNY 3,204,777,380.00, a 1455% increase from CNY 206,100,000.00[25]. - The company has completed the transfer of 100% equity in Shenzhen Jingi Times Industrial Co., Ltd., enhancing its control over this subsidiary[27]. - The company signed a strategic cooperation framework agreement with South China Agricultural University on October 18, 2019, focusing on research, talent resources, and industrialization[29]. Inventory and Financial Management - Inventory increased by 23% to CNY 2,077,801,086.54 from CNY 1,683,574,909.50, primarily due to investments in the Shanhai Shangyuan real estate project[23]. - The company reported a decrease in accounts receivable from ¥67,566,216.83 in 2018 to ¥63,096,605.13 in 2019, a decline of approximately 6.5%[44]. - The company's financial expenses turned negative at CNY -19,354,500.57, a decrease of 899% from CNY 2,423,137.77, reflecting gains from financial products[23]. - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[30]. - The company has not engaged in derivative investments during the reporting period[37]. Comprehensive Income - The company's other comprehensive income showed a significant decline to -CNY 67,663,986.07 from CNY 7,319,126.52[48]. - Other comprehensive income showed a loss of CNY 74,163,500.00, indicating challenges in this area[54]. - The company’s other comprehensive income showed a negative value of CNY -74,163,500.00, which may affect overall financial health[92].

Financial Performance - The company's operating revenue for the reporting period was ¥1,171,741,047.15, representing a 59.15% increase compared to the previous year[21] - The net profit attributable to shareholders was ¥149,692,595.48, a significant increase of 465.34% from the previous year's net profit of ¥73,102,827.76[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥140,652,553.83, up 451.78% from the previous year[21] - The net cash flow from operating activities reached ¥980,048,792.02, marking a 680.45% increase compared to the previous year[21] - Basic earnings per share were ¥0.3831, reflecting a 465.20% increase from the previous year's earnings of ¥0.1871[21] - Total assets at the end of the reporting period amounted to ¥6,101,286,907.36, a 17.73% increase from the previous year's total assets[21] - The net assets attributable to shareholders were ¥1,172,831,164.61, which is a 15.52% increase from the previous year[21] - The weighted average return on equity was 13.73%, an increase of 21.08% compared to the previous year[21] Profit Distribution - The company plans to distribute profits by increasing capital reserves, with a proposal to convert 0.3 shares for every 10 shares held, without cash dividends[5] - The company reported a total distributable profit of CNY 581,750,161.88 as of June 30, 2019, with no cash dividends declared[64] - The company plans to increase its share capital by 11,723,060 shares through a stock dividend of 0.3 shares for every 10 shares held[64] Business Segments and Operations - The main business segments include modern agriculture, public utilities, real estate, and financial investment, with a focus on high-end pork and egg sales[27] - The company is enhancing its feed product competitiveness by developing special aquatic feeds and antibiotic-free feeds, despite a decline in pig feed sales due to African swine fever[37] - The real estate sector showed an increase in transaction volume in Shenzhen, indicating a stable market environment[37] - The company has established partnerships with several academic institutions for research and development in safe and efficient feed and ecological farming practices[32] - The company aims to build a traceable supply chain from farm to table, ensuring food safety and quality control[33] - The company’s financial investment segment is focused on insurance brokerage, adapting to stricter regulatory requirements in the financial sector[37] - The company is strategically expanding its agricultural operations in the Guangdong-Hong Kong-Macao Greater Bay Area[28] Cash Flow and Investments - The company’s cash flow increased due to a rise in property sales from the Shanhai Shangyuan project[29] - The company reported a significant increase in R&D investment, which rose by 22.30% to ¥12,689,435.92, reflecting a commitment to enhancing product development[42] - The company is actively expanding its sales channels, adding new sales terminals in Xiamen and Shenzhen for its poultry business[38] - The water supply segment achieved a revenue increase of 24.02% to ¥145,835,811.60, with improved efficiency in operations[44] - Investment income contributed ¥14,577,513.18, accounting for 7.28% of total profit, primarily from equity disposals and financial products[45] Financial Adjustments and Compliance - The company has undergone adjustments to its financial statements due to discrepancies in revenue recognition, impacting previous years' financial data[21] - The company has implemented corrective measures since August 2018 regarding significant deficiencies identified in the previous audit, including adjustments to personnel and improvements in the internal control system for advance payments[71] - The audit report issued by Zhongzheng Asia Pacific Accounting Firm contains a reserved opinion due to issues related to previous management's legal troubles[129] - The company is committed to avoiding related party transactions that could harm the interests of minority shareholders[66] - The company is ensuring compliance with legal procedures when providing guarantees to related parties[68] Risks and Challenges - The company is facing risks from fluctuating raw material costs and environmental regulations, which may impact profitability and operational efficiency[55] - The real estate business is closely monitoring government policy changes to adjust operational strategies and mitigate risks[57] - The transportation business faces increased costs due to heightened government safety regulations, impacting profit levels[58] - The insurance brokerage segment has struggled to develop external resources and relies heavily on group relationships, leading to information asymmetry[59] Shareholder Information - The largest shareholder, Jingji Group, holds 41.65% of the shares, totaling 162,754,238 shares[110] - Shenzhen Huachao Investment Holding Group Co., Ltd. is the second-largest shareholder with a 29.85% stake, amounting to 116,641,816 shares[110] - The company had a total of 8,396 shareholders holding more than 5% of the shares at the end of the reporting period[110] - The company has not engaged in any repurchase transactions during the reporting period[108] Legal and Regulatory Matters - The company faced a lawsuit with a disputed amount of 51,872,520 RMB, which was resolved through a settlement agreement in July 2019[73] - There were no bankruptcy reorganization matters during the reporting period[72] - The company has no violations regarding external guarantees during the reporting period[98] Company Overview - The company operates in multiple industries including real estate development, feed production, water supply, public transportation, and financial services[192] - The company has a total of 39 subsidiaries included in the consolidated financial statements[190] - The company was established in 1994 and listed on the Shenzhen Stock Exchange on November 1, 1994[189] - The financial reporting period follows the calendar year, from January 1 to December 31[196]

Financial Performance - The company's operating revenue for Q1 2019 was CNY 719,930,211.46, representing a 110.85% increase compared to CNY 384,919,312.24 in the same period last year[10] - Net profit attributable to shareholders was CNY 110,883,146.40, a significant increase of 1,031.85% from CNY 2,260,801.56 in the previous year[10] - The net cash flow from operating activities reached CNY 981,186,606.69, marking a 1,356.76% increase from a negative cash flow of CNY -78,072,549.46 in the same period last year[10] - Basic earnings per share rose to CNY 0.2838, up 1,031.85% from CNY 0.0058 in the previous year[10] - The company reported a gross profit margin improvement, with gross profit rising to CNY 147,230,467.41 from CNY -10,120,296.47 in the previous year[50] - The company reported a total comprehensive income of ¥113,518,379.22, compared to a comprehensive loss of -¥13,154,924.08 in the previous period[57] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,804,758,384.89, reflecting a 12.01% increase from CNY 5,182,504,077.75 at the end of the previous year[10] - The total liabilities as of March 31, 2019, were CNY 4,467,407,433.45, compared to CNY 3,957,123,227.41 at the end of 2018, indicating an increase of approximately 12.9%[42] - Total equity attributable to shareholders reached CNY 1,126,909,572.57, up from CNY 1,015,258,130.81, marking an increase of around 11%[43] - The total assets of the company stood at 5,182,504,077.75 CNY, with current assets amounting to 3,981,909,019.90 CNY[67] - Total liabilities amounted to CNY 3,957,123,227.41, with current liabilities at CNY 3,782,581,535.40[70] Cash Flow - Cash and cash equivalents increased by 30.88% to CNY 2,340,119,937.13 from CNY 1,787,994,691.32, primarily due to the receipt of mortgage repayments for commercial housing[22] - The cash inflow from operating activities totaled ¥1,676,675,502.56, compared to ¥578,198,512.13 in the previous period[59] - The cash flow from investment activities included cash received from investments amounting to ¥860,510,000.00[59] - The net cash flow from operating activities was 1,005,876,729.04 CNY, compared to 329,242,955.30 CNY in the previous period, indicating a significant increase[62] - The company experienced a net cash flow from financing activities of -236,196,551.90 CNY, indicating higher cash outflows than inflows[65] Shareholder Information - The top shareholder, Jingji Group Co., Ltd., held 41.65% of the shares, while Shenzhen Huachao Investment Holding Group Co., Ltd. held 29.85%[15] - The company has made adjustments to its financial statements for previous years due to accounting errors related to revenue recognition in real estate development[10] Legal and Compliance Issues - The company faced a lawsuit from COFCO Group regarding shareholder capital contribution obligations, with a total claim amounting to CNY 518,725,153.38[23] - As of the report date, the company has assets frozen totaling approximately CNY 531,473,978.10, which may adversely affect its liquidity and operational capacity[25] - The company received a warning and a fine of CNY 400,000 from the China Securities Regulatory Commission for failing to disclose its 2017 annual report on time[25] - The company’s stock has been under delisting risk warning since July 2, 2018, due to the inability to disclose the 2017 annual report within the required timeframe[28] - The company is currently undergoing litigation related to the aforementioned capital contribution dispute, which is still under review[25] Inventory and Prepayments - Prepayments rose by 44.53% to CNY 2,928,346,185.41 from CNY 2,026,055,926.07, reflecting the receipt of pre-sale funds for commercial housing[22] - Inventory decreased by 3.64% to CNY 1,622,276,554.63 from CNY 1,683,574,909.50, mainly due to the cost transfer of commercial housing inventory[22] - The company’s inventory decreased slightly to CNY 1,538,943,873.78 from CNY 1,588,209,450.15, a decline of approximately 3.1%[46] Operational Highlights - The company signed a total contract worth CNY 582 million with Guangxi Construction Group for construction projects, with a contract period from March 1, 2019, to December 31, 2020[27] - Operating revenue surged by 110.85% to CNY 719,930,211.46 compared to CNY 341,436,876.05 in the same period last year, mainly driven by new sales of commercial housing[22] - The company reported no derivative investments during the reporting period, indicating a conservative investment strategy[33] - There were no instances of non-compliance with external guarantees during the reporting period, reflecting sound financial governance[35] - The company did not report any non-operational fund occupation by controlling shareholders or related parties, ensuring financial integrity[36]

Financial Performance - The company's operating revenue for 2018 was CNY 3,436,940,910.61, representing a 121.79% increase compared to CNY 1,549,614,465.33 in 2017[23]. - The net profit attributable to shareholders for 2018 was CNY 437,394,982.71, a significant increase of 381.22% from CNY 276,762,330.92 in 2017[26]. - Basic earnings per share for 2018 were CNY 1.1193, an increase of 381.23% compared to CNY 0.7083 in 2017[26]. - Total assets at the end of 2018 amounted to CNY 5,182,504,077.75, reflecting a 32.72% increase from CNY 3,904,776,967.49 in 2017[26]. - The net assets attributable to shareholders were CNY 1,015,258,130.81, a 75.86% increase from CNY 577,300,726.09 in 2017[26]. - The company reported a significant adjustment in revenue recognition for real estate projects, impacting the financial results for 2017 and 2018[31]. - The company experienced a quarterly revenue of CNY 2,220,610,238.48 in Q4 2018, with a net profit of CNY 495,586,288.85[30]. - Non-recurring gains and losses for 2018 included a loss of CNY 536,224.74, compared to a loss of CNY 31,432,095.02 in 2017[33]. - The total operating revenue for 2018 reached CNY 3,436,940,910.61, representing a 121.79% increase compared to CNY 1,549,614,465.33 in 2017[56]. Profit Distribution - The company reported a profit distribution plan for 2018, proposing a capital reserve increase of 11,723,060 shares, resulting in a total share capital of 402,491,731 shares[5]. - The company did not distribute profits for the 2018 fiscal year, indicating a focus on capital retention[5]. - The company did not distribute cash dividends in 2018, maintaining a cash dividend ratio of 0.00%[118]. - The retained undistributed profits will primarily be used for repaying bank loans and supporting the working capital needs of subsidiaries[120]. Corporate Governance - The audit report from Zhongchao Yatai Accounting Firm highlighted significant internal control deficiencies due to previous management's legal issues and questionable prepayment investments[5]. - The company reported a non-standard audit opinion due to issues related to former management and prepayment investments, leading to a reserved audit report and a negative internal control audit report[129]. - The company has implemented corrective measures for significant deficiencies identified in the audit, including adjustments to management positions and improvements in the prepayment authorization system[131]. - The company has engaged Zhongshun Yatai Accounting Firm for auditing services, with a fee of 1.6 million RMB for the year[135]. Legal Matters - The company is involved in a lawsuit with shareholder Lin Zhi, with the amount in dispute being 0 million RMB[143]. - Another lawsuit involves the company against Lin Zhi and others, with a disputed amount of 50 million RMB[144]. - The company incurred legal fees of 1,270,900 RMB related to a lawsuit that was withdrawn, which will not significantly impact current or future profits[147]. - A lawsuit initiated by Jingji Group against the company has a disputed amount of 49 million RMB, which also does not form an expected liability[147]. - The company faced a series of civil rulings and appeals related to the lawsuits, with the latest ruling allowing the withdrawal of a lawsuit by Jingji Group[152]. - The company has been involved in multiple legal proceedings, but none have resulted in significant financial liabilities[145]. - The company continues to monitor ongoing litigation and its potential impacts on operations and financial health[148]. - The company is involved in a loan dispute case with Shenzhen Longgang Investment Holding Group, with the amount in dispute being RMB 67.19 million[167]. - The company is currently facing a lawsuit from COFCO Group regarding a shareholder contribution dispute, with the amount in dispute being RMB 518.73 million[169]. Operational Challenges - The company emphasized potential risks in its future development outlook, urging investors to be aware of investment risks[5]. - The company faced challenges in the pig farming sector due to African swine fever, leading to a decrease in pig feed sales[48]. - The real estate market in Shenzhen is experiencing a downturn, with a shift to a buyer's market due to increased supply and decreased demand[103]. - The company anticipates that the impact of African swine fever will continue into 2019, affecting both feed and breeding industries[99]. - Environmental regulations are tightening, leading to the exit of small-scale pig farming and the expansion of large-scale farming operations[100]. Strategic Initiatives - The company aims to enhance its market competitiveness through management, technology, and brand advantages, focusing on integrity and efficiency[42]. - The company is focusing on developing antibiotic-free feed products in response to upcoming regulations banning antibiotic use[101]. - The company will implement safety production measures and improve water supply quality to mitigate operational risks in the public utility sector[111]. - The company plans to upgrade its water treatment facilities to improve water quality and increase production capacity[111]. - The company aims to deepen agricultural development, leverage real estate, and steadily advance public utilities as part of its strategic direction for 2018[105]. - In 2019, the company plans to focus on core agricultural enterprises, accelerate real estate development, and stabilize public utilities to enhance social benefits[106]. Sector Performance - The company operates in four main sectors: modern agriculture, public utilities, real estate, and financial investment, focusing on high-end pork and egg sales, feed production, and urban water supply[36]. - The modern agriculture sector is the strategic core, utilizing a company + cooperative model to enhance the production and supply chain of quality meat products[36]. - The public utility segment includes 886 electric taxis and 61 long-distance buses, emphasizing safety and community service[37]. - The real estate sector is impacted by national policies, with a decrease in new construction area growth and an increase in second-hand housing costs due to regulatory changes[40]. - The financial investment sector is adapting to stricter regulatory requirements, leading to more standardized operations[40]. Research and Development - The company has established several research and development initiatives, including the establishment of academic workstations to enhance agricultural technology and eco-friendly practices[44]. - Research and development expenses rose by 14.70% to CNY 25,201,621.33, reflecting increased investment in various R&D projects[75]. - The number of R&D personnel increased by 54.55% to 51, representing 3.28% of the total workforce[75]. Related Party Transactions - The total amount of related party transactions during the reporting period is estimated at 31.2624 million yuan[177]. - The company procured finished water from Shenzhen Water (Group) Co., Ltd. at a government-set price, amounting to 31.2624 million yuan, which accounts for 22.48% of total transactions[177]. - There were no joint external investment related party transactions during the reporting period[179]. - The company reported no related party debt or credit transactions during the reporting period[180]. Cash Flow and Investments - The net cash flow from operating activities increased by 228.13% year-on-year, reaching ¥1,078,635,007.00, primarily due to increased pre-sale payments for the Shanhai Shangyuan project[80]. - The net cash flow from investment activities decreased by 776.61% year-on-year, resulting in a net outflow of ¥534,218,381.81, mainly due to investments in equity funds and bank financial products[80]. - The total cash and cash equivalents increased by 123,559,435.48, a decrease of 85.47% compared to the previous year[80]. - The company reported a total of ¥532,908,914.82 in cash that is restricted due to legal disputes and loan collateral[87].

Financial Performance - Net profit attributable to shareholders increased by 209.49% to CNY 16,195,454.68 for the reporting period[8] - Basic earnings per share increased by 209.35% to CNY 0.0414 for the reporting period[8] - The company reported a significant increase in net profit excluding non-recurring gains and losses, up 220.55% to CNY 19,311,784.76 for the reporting period[8] - The net profit for the third quarter was CNY 23,016,344.33, compared to a net loss of CNY 8,343,241.05 in the previous year, indicating a turnaround in profitability[51] - The total profit for the quarter reached CNY 30,908,891.53, compared to a total loss of CNY 8,653,822.11 in the previous year[51] - The net profit for the third quarter was CNY 101,820,065.57, a significant increase compared to a net loss of CNY 48,431,314.25 in the same period last year[59] - The total profit for the period was CNY 98,098,021.19, a significant improvement from a loss of CNY -25,268,004.17 in the previous year[61] Revenue and Operating Performance - Operating revenue for the period rose by 25.77% to CNY 579,938,695.86, with a year-to-date increase of 45.33% to CNY 1,640,425,559.75[8] - Operating revenue for the year-to-date reached CNY 1.64 billion, a 45.33% increase compared to the same period last year, driven by residential property sales[16] - Total operating revenue for Q3 2018 was CNY 579,938,695.86, an increase of 25.7% compared to CNY 461,105,720.98 in the same period last year[50] - The revenue for the period reached CNY 430,092,021.29, up from CNY 9,534,229.47 in the previous year, indicating a substantial growth[61] Cash Flow and Liquidity - Cash flow from operating activities increased by 503.34% year-to-date to CNY 817,329,391.62[8] - The net cash flow from operating activities was CNY 817.33 million, a significant turnaround from a negative cash flow of CNY -202.64 million in the same period last year[16] - The operating cash flow for the period was CNY 817,329,391.62, a turnaround from a negative cash flow of CNY -202,642,241.68 in the same quarter last year[63] - The cash inflow from operating activities totaled CNY 3,124,319,897.12, compared to CNY 1,414,511,876.24 in the previous year[63] - The total cash and cash equivalents at the end of the period amounted to ¥2.29 billion, up from ¥1.20 billion at the beginning of the period[66] Assets and Liabilities - Total assets increased by 33.92% to CNY 5,100,364,791.82 compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 8.90% to CNY 1,099,455,379.39 compared to the end of the previous year[8] - Current liabilities totaled CNY 2,559,343,761.87, an increase from CNY 1,897,543,832.11, representing a rise of 35%[44] - Non-current liabilities increased to CNY 1,217,642,907.79 from CNY 770,009,141.31, indicating a growth of 58%[44] - Long-term borrowings increased by 80.39% to CNY 1.01 billion, primarily for the development of the Shanhai Shangyuan project[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 8,847[12] - The top two shareholders, Jingji Group and Shenzhen Huachao Investment Holdings, held 31.65% and 29.85% of shares, respectively[12] Legal and Regulatory Matters - The company is currently facing legal challenges involving former executives and ongoing litigation, but production and operations remain normal[17][18][19] - The company is currently involved in multiple legal disputes, including a case with Jingji Group, which has been ongoing since March 31, 2017[24][26][27] - The company is currently facing a property preservation application involving assets valued at ¥518,725,153.38, as part of a lawsuit initiated by COFCO Group[29] Investment and Other Income - The company recorded investment income of CNY 3,452,482.54, compared to a loss of CNY 30,714.13 in the previous year, indicating improved investment performance[51] - The company reported a decrease in income tax expenses to CNY 40,957,075.61 from CNY -7,906,706.91 in the previous year[59]

2018 年第一季度报告正文 2018 年 10 月 1 深圳市康达尔(集团)股份有限公司 2018 年第一季度报告正文 第一节 重要提示 深圳市康达尔(集团)股份有限公司 2018 年第一季度报告正文 证券代码：000048 证券简称：*ST 康达 公告编号：2018-146 深圳市康达尔(集团)股份有限公司 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 公司负责人熊伟、主管会计工作负责人黄益武及会计机构负责人(会计主管 人员)吴玉金声明：保证季度报告中财务报表的真实、准确、完整。 2 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 陈东 独立董事 出差 李东明 深圳市康达尔(集团)股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 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 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,060,486,863.89, representing a 58.84% increase compared to CNY 667,650,863.16 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached CNY 73,102,827.76, a significant increase of 328.56% from a loss of CNY 31,983,716.62 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 71,123,853.61, up 381.51% from a loss of CNY 25,265,052.90 in the same period last year[19]. - The basic earnings per share increased to CNY 0.1871, compared to a loss of CNY 0.0818 per share in the previous year[19]. - The total assets at the end of the reporting period were CNY 4,209,492,787.70, reflecting a 10.53% increase from CNY 3,808,599,363.81 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 7.40% to CNY 1,084,326,284.74 from CNY 1,009,599,365.43 at the end of the previous year[19]. - The weighted average return on net assets was 6.98%, an increase of 11.45 percentage points from -4.47% in the previous year[19]. - The company reported a significant increase in income tax expenses, amounting to ¥33,064,528.41, which is a 535.28% increase year-on-year, attributed to the sales from the Shanhai Shangyuan project[37]. - The total comprehensive income for the period was ¥78,562,732.27, compared to a loss of ¥39,449,104.87 in the previous period[154]. Cash Flow and Liquidity - The net cash flow from operating activities improved to -CNY 168,843,943.12, a 42.43% reduction in loss compared to -CNY 293,292,956.53 in the same period last year[19]. - The company's cash and cash equivalents decreased by 149.52%, resulting in a net decrease of ¥29,498,280.97 during the reporting period[37]. - Cash flow from operating activities was ¥1,337,927,681.02, an increase from ¥658,843,359.51 in the previous period[159]. - The ending balance of cash and cash equivalents was 1,171,114,815.87 CNY, down from 1,200,613,096.84 CNY at the beginning of the period[161]. - Total cash inflow from operating activities amounted to 1,359,567,904.98 CNY, while cash outflow was 1,528,411,848.10 CNY, resulting in a net cash flow deficit[161]. Business Segments and Operations - The agricultural segment remains the core business, focusing on providing high-quality and safe animal protein products, with a complete supply chain for feed and livestock[26]. - The water supply company has a daily supply capacity of 350,000 tons, meeting the water needs of over 1.7 million people, approximately 10% of Shenzhen's total population[26]. - The real estate segment is actively developing projects, with the successful launch of sales for phase 2, building 3 and 5 on June 23, achieving notable sales results[34]. - The company is responding to government mandates for electric taxis, significantly increasing operational capacity and ranking among the top in the industry[34]. - The financial segment aims to enhance brand influence and competitive advantage by establishing an equity investment fund focused on modern agriculture and emerging industries[27]. Challenges and Risks - The company anticipates significant challenges in the agricultural sector due to rising feed costs, projected to increase by CNY 60 to CNY 100 per ton, and a decline in pig prices[52]. - The public utility sector faces pressure to maintain stable water supply and quality, with plans to improve infrastructure and emergency response mechanisms[54]. - The real estate sector is impacted by tightened credit conditions and government regulations, affecting investment returns and market dynamics[54]. - The company is actively working to comply with increasing regulatory requirements in the financial sector, particularly for P2P platforms[55]. Legal Matters - There is an ongoing lawsuit involving shareholder Lin Zhi, who holds 15.81% of the company through multiple accounts, seeking to annul a resolution from the 2014 annual general meeting[64]. - The company is involved in another lawsuit with a claim amount of 50 million yuan, which has been allowed to withdraw by the Guangdong High Court[65]. - The company has ongoing litigation against shareholder Lin Zhi for short-term trading profits amounting to approximately 5.73 million CNY, plus interest[90]. - The company is involved in a lawsuit with Shenzhen Longgang Investment Holding Group Co., Ltd. regarding a loan dispute, with the amount in question being RMB 67.19 million[68]. - The company is also facing a lawsuit from COFCO Group (Shenzhen) Co., Ltd. over a capital contribution dispute, with the involved amount reaching RMB 518.73 million[69]. Shareholder Information - The company reported a total share count of 390,768,671 shares, with 98.62% being unrestricted shares[125]. - The largest shareholder, Jingji Group Co., Ltd., holds 123,677,371 shares, accounting for 31.65% of total shares[129]. - The total number of common shareholders at the end of the reporting period is 10,101[128]. Corporate Governance - The company held three shareholder meetings during the reporting period, with participation rates of 79.24%, 79.10%, and 80.16% respectively[58]. - The company has not experienced any bankruptcy reorganization during the reporting period[63]. - The financial report was approved by the company's board of directors on October 29, 2018[180]. Accounting and Financial Reporting - The financial report for the half-year period has not been audited[140]. - The financial statements comply with the requirements of the accounting standards and accurately reflect the company's financial position and operating results as of June 30, 2018[184]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its ability to continue[182].

Financial Performance - The company's revenue for Q1 2018 was ¥385,075,216.25, representing a 26.65% increase compared to ¥304,054,735.62 in the same period last year[10] - The net profit attributable to shareholders was ¥2,401,877.84, a significant turnaround from a loss of ¥18,481,014.45 in the previous year, marking a 113.00% improvement[10] - The net cash flow from operating activities was -¥78,072,549.46, an improvement of 43.32% from -¥137,741,758.47 year-on-year[10] - Basic and diluted earnings per share were both ¥0.0061, compared to a loss of ¥0.0473 per share in the same period last year, reflecting a 112.90% increase[10] - Total assets at the end of the reporting period were ¥3,649,501,509.68, a decrease of 3.88% from ¥3,796,670,522.32 at the end of the previous year[10] - The net assets attributable to shareholders increased slightly by 0.35% to ¥1,024,820,966.19 from ¥1,021,295,067.45 at the end of the previous year[10] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,039[14] - The largest shareholder, Jingji Group Co., Ltd., held 31.65% of the shares, while the second-largest shareholder, Shenzhen Huachao Investment Holding Group Co., Ltd., held 29.85%[14] Legal Issues and Litigation - The company has been involved in multiple lawsuits concerning shareholder misconduct, including a case against shareholders for short-term trading violations[21] - The company has reported ongoing investigations by the Shenzhen Securities Regulatory Bureau regarding shareholder complaints[20] - The company has faced legal challenges from shareholders, including Lin Zhi, who holds 15.81% of the company's shares through multiple accounts[23] - The company has been actively pursuing legal actions to recover losses from illegal trading activities by shareholders[26] - The company received a ruling from the Shenzhen court requiring Lin Zhi to return CNY 2,423,642.95 in short-term trading profits[22] - The ongoing litigation regarding shareholder misconduct is still under review by the courts as of the latest report[27] - The company is involved in multiple lawsuits, including a borrowing contract dispute with Shenzhen Longgang Investment Holding Group, with a total claim of RMB 67.19 million, comprising RMB 18.32 million in principal and RMB 48.87 million in interest[31] - The company received a civil judgment requiring it to repay RMB 18.32 million in principal and interest to Shenzhen Longgang Investment Holding Group within ten days of the judgment's effectiveness[31] - The company is facing a lawsuit from Jingji Group, which has filed multiple claims against the company and its directors, with ongoing legal proceedings[32][33][34][36] - The company has received a property preservation application from COFCO Group, seeking to freeze assets valued at RMB 518.73 million[37] - As of the report date, several lawsuits involving the company have not yet gone to trial, indicating ongoing legal challenges[30][35][38] Future Outlook - The company anticipates a significant change in cumulative net profit from the beginning of the year to the next reporting period, indicating potential losses compared to the same period last year[39] Investment Activities - There were no securities investments during the reporting period[40] - There were no derivative investments reported during the period[40] - The company reported no instances of non-compliant external guarantees during the reporting period[43] - There were no non-operational fund occupations by controlling shareholders or related parties during the reporting period[44] Communication and Inquiries - The company engaged in multiple telephone communications for inquiries regarding various matters, including shareholder meetings and financial disclosures[41][42]