Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,063,669,669.04, representing a 59.32% increase compared to CNY 667,650,863.16 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached CNY 69,908,894.55, a significant turnaround from a loss of CNY 31,983,716.62, marking a 318.58% increase[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 68,274,074.75, compared to a loss of CNY 25,265,052.90, reflecting a 370.23% increase[18]. - The basic earnings per share improved to CNY 0.1789 from a loss of CNY 0.0818, indicating a 318.58% increase[18]. - The total assets at the end of the reporting period were CNY 4,112,194,743.44, an 8.31% increase from CNY 3,796,670,522.32 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased to CNY 1,092,262,952.46, a 6.95% rise from CNY 1,021,295,067.45[18]. - The weighted average return on net assets was 6.62%, a significant increase of 247.86% from -4.47% in the same period last year[18]. - The company's revenue for the first half of 2018 reached ¥1,063,669,669.04, a 59.32% increase compared to ¥667,650,863.16 in the same period last year, primarily due to sales from the Shanhai Shangyuan Phase II project[38]. - The cost of sales increased by 26.61% to ¥733,315,335.24 from ¥579,206,128.72, also driven by the Shanhai Shangyuan Phase II project[38]. - The gross profit margin for the feed production segment was 8.05%, a decrease of 1.26% compared to the previous year[40]. - The company reported a significant increase in income tax expenses, rising 528.51% to ¥32,549,894.14 from a negative ¥7,596,125.85 in the previous year, attributed to the sales from the Shanhai Shangyuan Phase II project[38]. - The company reported a total profit of CNY 110,451,947.96, a significant recovery from a loss of CNY 47,684,199.05 in the same period last year[151]. - Comprehensive income totaled CNY 77,661,064.85, recovering from a comprehensive loss of CNY 39,449,104.87 in the previous year[152]. Cash Flow and Investments - The net cash flow from operating activities was negative at CNY -168,828,943.12, but improved by 42.44% compared to CNY -293,292,956.53 in the previous year[18]. - The cash flow from operating activities improved by 42.44%, with a net outflow of ¥168,828,943.12 compared to ¥293,292,956.53 in the previous year[38]. - The net cash flow from investing activities was -105,786,803.81 CNY, compared to -89,290,908.99 CNY in the previous period, reflecting increased investment outflows[160]. - Cash inflow from financing activities amounted to 505,410,000.00 CNY, while cash outflow was 137,187,902.39 CNY, leading to a net cash flow of 368,222,097.61 CNY[160]. - The ending balance of cash and cash equivalents was 1,170,128,628.81 CNY, up from 345,471,698.73 CNY in the previous period[160]. - The company reported a cash balance of RMB 1,170,128,628.81 as of June 30, 2018, an increase from RMB 1,076,487,346.67 at the beginning of the period, reflecting a growth of approximately 8.7%[141]. - The total cash inflow from operating activities was 1,393,254,633.53 CNY, a substantial increase compared to 39,691,071.64 CNY in the previous period[163]. Legal and Regulatory Issues - The company has faced legal issues with former executives being detained, which has impacted its financial reporting[5]. - The company is involved in a lawsuit with a claimed amount of RMB 50 million, which is currently under judicial review[67]. - Another ongoing lawsuit involves a claim of RMB 49 million, with the case still in the trial process as of the report date[68]. - The company has not formed any estimated liabilities related to the ongoing lawsuits[67][68]. - The company has received multiple court rulings regarding jurisdictional disputes in the lawsuits, with some cases being dismissed or withdrawn[67][68]. - The company has been actively involved in legal proceedings since 2016, with various hearings and rulings taking place over the years[67][68]. - The lawsuits primarily involve disputes over shareholder rights and governance issues within the company[68]. - The company continues to monitor the legal proceedings and their potential implications for its business strategy[67][68]. - The company is currently appealing the first-instance judgment regarding the loan dispute[71]. - The ongoing litigation cases have not resulted in any adverse effects on the company's operations[71]. - The company is involved in ongoing litigation regarding shareholder rights, with claims amounting to CNY 49 million against eleven board members for infringing on shareholder rights[97]. - The company is involved in multiple legal disputes regarding property sales and contract obligations, with claims totaling approximately RMB 1,755,119.01 for delayed delivery penalties and RMB 723,080 for property value loss[98]. Operational Segments and Strategies - The public utility segment has a daily water supply capacity of 350,000 tons, serving over 1.7 million people, approximately 10% of Shenzhen's total population[26]. - The company operates a fleet of 871 taxis and 61 long-distance buses under its transportation subsidiary[26]. - The real estate segment focuses on high-end regional projects, leveraging quality land resources in Shenzhen for sustainable development[27]. - The financial segment aims to enhance the company's brand influence and competitive edge through strategic investments in modern agriculture and emerging industries[27]. - The company emphasizes a diversified strategy while maintaining a focus on modern agriculture as its core business[30]. - The company is actively pursuing mergers and acquisitions to accelerate growth in the modern agriculture sector[30]. - The company has made significant investments in construction projects, including the integration of water supply facilities and real estate developments[29]. - The company continues to develop its financial services, with the Fengshou Loan platform providing comprehensive internet financial services to agricultural enterprises and rural SMEs[36]. Shareholder and Equity Information - The company has a total of 390,768,671 shares, with 98.62% being unrestricted shares[125]. - The largest shareholder, Jingji Group Co., Ltd., holds 31.65% of the shares, amounting to 123,677,371 shares, which are currently pledged[127]. - Shenzhen Huachao Investment Holding Group Co., Ltd. owns 29.85% of the shares, totaling 116,641,816 shares[127]. - The company has not reported any changes in restricted shares or significant shareholder movements during the reporting period[126]. - The company has not issued any new shares or made any capital increases during the reporting period[126]. - The top ten shareholders collectively hold 31.66% of the company's shares, with the largest shareholder being Jingji Group Co., Ltd. holding 123,677,371 shares[128]. Corporate Governance and Compliance - The company is actively working to comply with local financial regulatory requirements for P2P platforms, enhancing information disclosure and security measures[57]. - The company has not reported any significant changes in user data or future performance guidance in the current report[70]. - The company has not disclosed any new product developments or market expansion strategies in the report[70]. - The company has not reported any significant penalties or rectifications during the period[72]. - There are no stock incentive plans or employee stock ownership plans implemented during the reporting period[75]. - The company did not engage in any related party transactions during the reporting period[76]. - The company has no significant contracts or leasing arrangements that could impact financial performance[84]. - The company has a total external guarantee amount of 18 million RMB, which accounts for 1.65% of the company's net assets[88]. - There are no violations regarding external guarantees reported during the period[89]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern and comply with the relevant accounting standards[183]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[184]. - The accounting policies and estimates are tailored to the specific operational characteristics of the company and its subsidiaries[185]. - The company’s accounting period follows the calendar year, from January 1 to December 31[187]. - The normal operating cycle is defined as 12 months, which is used as a standard for classifying assets and liabilities[188]. - The company’s financial statements are presented in Renminbi, which is the primary currency for its domestic operations[189]. - The company confirmed the recognition of deferred income tax assets related to business combinations, which will be included in the current profit and loss[193]. - The scope of the consolidated financial statements is determined based on control, which includes the company and all subsidiaries[195].

Financial Performance - The company's operating revenue for 2017 was ¥2,942,727,804.37, representing an increase of 88.49% compared to ¥1,561,230,908.03 in 2016[19] - The net profit attributable to shareholders in 2017 was ¥276,762,330.92, a significant increase of 4,543.03% from ¥5,960,816.41 in 2016[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥308,194,425.94, up 1,359.77% from -¥24,464,246.73 in 2016[19] - The net cash flow from operating activities was ¥328,717,922.40, a 153.21% increase from -¥617,796,417.16 in 2016[19] - Basic earnings per share for 2017 were ¥0.7083, reflecting a 4,529.41% increase from ¥0.0153 in 2016[19] - The weighted average return on net assets was 31.81%, up from 0.82% in 2016, indicating improved profitability[19] - Total assets increased to ¥3,808,599,363.81, a growth of 94.34% compared to ¥1,959,736,873.69 from the previous year[21] - Net assets attributable to shareholders rose by 38.21% to ¥1,009,599,365.43 from ¥730,489,152.36[21] - In Q4 2017, the company reported a net profit attributable to shareholders of ¥323,537,352.05, recovering from losses in the first three quarters[25] - The net cash flow from operating activities in Q4 2017 was ¥531,360,164.08, significantly improving from negative cash flows in the first three quarters[25] Legal and Governance Issues - The company has faced legal issues with former executives being detained, impacting its financial reporting[5] - The audit report for the company was issued with a disclaimer of opinion due to these legal issues[5] - The company is currently undergoing changes in its legal representative and board of directors[15] - The company received a non-standard audit report for the fiscal year 2017 due to uncertainties related to former executives' criminal investigations, impacting the reliability of financial statements[105] - The board has initiated measures to adjust the positions of implicated personnel and is cooperating with ongoing investigations to ensure normal operations[107] - The company is involved in multiple lawsuits, with a total disputed amount of RMB 50 million in one case and RMB 49 million in another[123][124] - The company has been actively involved in legal proceedings since 2016, with multiple hearings and rulings affecting its governance and shareholder rights[123][124] - The ongoing litigation may impact the company's strategic decisions, particularly in governance and shareholder relations[124] Business Segments and Operations - The agricultural sector remains the core business, focusing on the full industry chain of quality animal protein supply[31] - The public utility sector, including water supply, has a daily supply capacity of 350,000 tons, serving over 2 million people[32] - The real estate sector aims to provide integrated services from urban development to comprehensive operation, leveraging quality land resources in Shenzhen[32] - The financial sector is expanding through equity investment and internet finance, aiming to enhance the company's brand influence and competitive edge[32] - The company plans to leverage its financial sector to support the growth of modern agriculture, real estate, and public utilities, enhancing its competitive advantage[34] - The company is actively pursuing mergers and acquisitions to accelerate the development of modern agriculture[34] Revenue and Sales Performance - The total operating revenue for 2017 reached ¥2,942,727,804.37, representing an 88.49% increase compared to ¥1,561,230,908.03 in 2016[44] - The agricultural sector successfully became a supplier for the BRICS Summit, enhancing its market presence and reputation[37] - The real estate project "Shan Hai Shang Yuan" achieved a sales contract total of ¥1.473 billion with a sales rate of 58.63% for the second phase[40] - The financial segment reported zero overdue loans and zero bad debts for the year, indicating strong risk management practices[41] - The total revenue for the feed production segment was approximately CNY 962.63 million, a slight decrease of 0.91% compared to the previous year[45] - Real estate development revenue surged to CNY 1.39 billion, reflecting a significant increase of 1,797.79% year-over-year[45] - The water supply segment reported revenue of CNY 272.45 million, up by 12.84% from the previous year[45] Cash Flow and Financial Management - The cash and cash equivalents increased by 242.54% to ¥850,318,440.84, compared to a decrease of ¥596,536,794.11 in the previous year[62] - The net cash flow from financing activities increased dramatically by 711.34% to ¥582,826,218.17, primarily due to increased loans for real estate project development[62] - The company reported a 123.40% increase in sales expenses, totaling ¥155,158,698.03, primarily due to marketing costs associated with the launch of a new property project[57] - The company’s financial costs surged by 299.65% to ¥8,004,999.31, attributed to reduced interest income from bank deposits used for real estate project development[58] Employee and Management Practices - The total remuneration for independent directors during the reporting period was 1 million CNY (pre-tax) per person annually[194] - The total remuneration for external directors during the reporting period was 800,000 CNY (pre-tax) per person annually[194] - The company has established a training plan aimed at enhancing employee skills and fostering a learning-oriented corporate culture[200] - Employee salaries are distributed monthly based on the company's compensation management regulations, with performance bonuses awarded semi-annually and annually[198] Future Outlook and Strategic Plans - In 2018, the company will focus on agriculture as its strategic core, supported by long-term businesses in property and public utilities, and financial investments for scale expansion[82] - The company aims to enhance its market share in the agricultural sector by studying successful domestic and international agricultural business models[83] - The company plans to build a food safety platform that integrates supply chain management and aims to develop a nationally recognized brand for high-quality agricultural products[87] - The company is committed to enhancing its food safety control systems to ensure high-quality and safe products for consumers[91] Shareholder and Ownership Structure - The total number of shareholders at the end of the reporting period was 10,484, an increase from 9,124 at the end of the previous month[166] - The largest shareholder, Jingji Group Co., Ltd., holds 31.65% of the shares, amounting to 123,677,371 shares, with 114,923,000 shares pledged[167] - The top ten shareholders collectively hold 31.66% of the company's shares, with the controlling shareholder being Shenzhen Huachao Investment Holding Group Co., Ltd.[168] Environmental and Social Responsibility - The company does not fall under the category of key pollutant discharge units as per environmental protection regulations[154] - The company has actively engaged in social responsibility initiatives, including educational partnerships with universities[152] - The company emphasizes a people-oriented management philosophy, ensuring employee rights and providing training opportunities[152]

Financial Performance - Total assets increased by 41.79% to CNY 2,778,657,675.47 compared to the end of the previous year[8] - Net profit attributable to shareholders was CNY -14,791,304.51, a decrease of 195.66% year-on-year[8] - Operating revenue for the period was CNY 461,105,720.98, up 2.84% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -16,019,681.87, a decrease of 7.35% year-on-year[8] - Basic earnings per share were CNY -0.0379, down 195.71% from the same period last year[8] - The weighted average return on net assets was -2.09%, a decrease of 199.50% year-on-year[8] - The company reported a net cash flow from operating activities of CNY -202,642,241.68 for the year-to-date[8] Shareholder Information - The top two shareholders, Jingji Group and Shenzhen Huachao Investment Holding Group, hold 31.65% and 29.85% of shares respectively[12] - The total number of ordinary shareholders at the end of the reporting period was 10,760[12] Revenue and Cash Flow - Total revenue for the reporting period was $1,128,756,584.14, a decrease of 5.23% compared to the previous period due to reduced real estate sales[16] - The company reported a significant increase in pre-receivable accounts, totaling $278,640,545.43, reflecting a 779.30% increase as a result of receiving part of the pre-sale property payments[16] - Operating cash flow showed a net inflow of $333,466,960.67, a substantial improvement from the previous outflow of $536,109,202.35[16] - The company experienced a 73.12% decrease in business taxes and additional charges, amounting to $5,061,344.90, due to lower real estate sales revenue[16] - Long-term equity investments decreased slightly by 0.84%, totaling $41,757,262.42[16] - The company’s net cash flow from investment activities was negative $99,320,193.46, primarily due to the acquisition of electric taxi equipment and subsidiary equity[16] - The company’s net cash flow from financing activities was positive $631,544,453.18, mainly due to increased borrowings for real estate projects[16] - The company reported a 91.43% decrease in non-operating income, totaling $3,999,858.01, primarily due to reduced government land compensation payments[16] - The company’s income tax expense decreased significantly by 138.54%, amounting to -$7,906,706.91, due to a reduction in total profit[16] - Inventory increased by 54.60%, reaching $1,103,908,791.14, attributed to rising real estate development costs[16] Legal Matters - The company is involved in multiple ongoing legal disputes, including a loan contract dispute with Shenzhen Longgang Investment Holding Group, with a total claim amount of RMB 67.19 million, comprising principal of RMB 18.32 million and interest of RMB 48.87 million[27] - The company has received a lawsuit from Zhongliang Group regarding shareholder capital contribution obligations, with claims totaling RMB 86,004,487 for land use rights and additional interest of RMB 18,038,067.34[31] - As of the report date, several lawsuits involving the company have not yet gone to trial, indicating ongoing legal challenges that may impact future operations[25][26][28][30][32] - The company is currently facing a lawsuit from Jiankai Group regarding disputes related to the 2016 annual shareholders' meeting resolutions, which may affect governance and shareholder relations[28] Compliance and Governance - The company has not reported any overdue commitments from its actual controllers, shareholders, or related parties during the reporting period, suggesting compliance with obligations[33] - There are no significant changes expected in the company's net profit for the upcoming reporting period, indicating stability in financial performance[34] - The company has not engaged in any securities or derivative investments during the reporting period, reflecting a conservative investment strategy[35] - The company has conducted multiple communications and inquiries regarding ongoing projects, including the Shanhai Shangcheng project, indicating active engagement with stakeholders[36] - There are no reported instances of non-operating fund occupation by controlling shareholders or related parties, suggesting financial integrity[39] - The company has received various inquiries related to its litigation status and project developments, highlighting the importance of transparency in its operations[36] Social Responsibility - The company has not conducted any targeted poverty alleviation work in the third quarter and has no subsequent plans for such initiatives[40]

Financial Performance - The company's operating revenue for the first half of 2017 was ¥667,650,863.16, a decrease of 10.10% compared to ¥742,674,038.33 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥31,983,716.62, representing a decline of 318.37% from ¥14,646,608.01 in the previous year[18]. - The net cash flow from operating activities was -¥293,292,956.53, an improvement from -¥526,766,695.44 in the same period last year[18]. - The total assets at the end of the reporting period were ¥2,321,383,410.57, an increase of 18.45% from ¥1,959,736,873.69 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 4.28% to ¥699,240,312.13 from ¥730,489,152.36 at the end of the previous year[18]. - The basic and diluted earnings per share were both -¥0.0818, a decrease of 318.13% from ¥0.0375 in the previous year[18]. - The weighted average return on equity was -4.47%, down by 6.48% from 2.01% in the previous year[18]. - The company reported a net loss of approximately 6.72 million CNY due to various non-operating income and expenses, including a donation expenditure of 2 million CNY[23]. - The company reported a significant increase in financial expenses, which rose by 1,542.93% to approximately ¥2.22 million, attributed to increased interest on short-term loans[35]. - The company reported a total current assets of RMB 1,373,509,798.03, up from RMB 1,085,291,386.25, reflecting a growth of about 26.6%[123]. - The company reported a total debt of 67.19 million yuan, including principal of 18.32 million yuan and interest of 48.87 million yuan as of October 31, 2016[69]. Business Segments - The agricultural sector remains the core business, focusing on providing high-quality animal protein and establishing a complete supply chain for meat products, including a premium black pig brand and a geographical indication for poultry products[26]. - The public utility sector operates 822 electric taxis and 76 long-distance buses, with a daily water supply capacity of 380,000 tons, serving over 2 million people, which is about 10% of Shenzhen's total population[26]. - The real estate sector aims to develop high-end properties in Shenzhen, leveraging quality land resources and a strong management team to enhance brand image and achieve stable growth[27]. - The financial sector is expanding through equity investments and internet finance, with a focus on supporting modern agriculture and emerging industries, while the "Fengshou Loan" platform aims to provide innovative financial services to small and micro enterprises[27]. - The agricultural sector faced challenges due to the H7N9 avian influenza outbreak, impacting the performance of the Huizhou company, which is adjusting its production scale to mitigate pressure[31]. - The company is committed to optimizing its product structure in the feed business, focusing on high-end aquatic feed and premix feed to enhance competitiveness and overall gross profit levels[31]. - The real estate segment has a rental area of approximately 350,000 square meters and land reserves of approximately 243,000 square meters, with plans for a 3 to 5-year land reserve strategy[35]. Cash Flow and Investments - The cash flow from operating activities showed an improvement, with a net cash flow of approximately -¥293.29 million, a 44.32% reduction in outflow compared to the previous year[35]. - The company’s investment activities resulted in a net cash outflow of approximately -¥89.29 million, a 125.53% increase in outflow due to the replacement of electric taxis and acquisition of subsidiary equity[35]. - The cash flow from financing activities was approximately ¥442.28 million, a significant increase compared to the previous year's outflow of -¥12.15 million, primarily due to increased borrowings for production projects[35]. - The company’s R&D investment was approximately ¥10.05 million, a decrease of 4.27% compared to the previous year[35]. - The company has purchased 615 electric taxis, leading to significant changes in fixed assets and intangible assets related to the transition from traditional fuel vehicles[28]. Legal and Compliance Issues - The company is involved in a legal case regarding a resolution from the 2014 annual general meeting, with ongoing court proceedings[63]. - The company is involved in ongoing litigation regarding illegal stock holdings, with a request for the court to confirm that the defendants do not have the qualification to acquire the company[64]. - The defendants are required to reduce their total holdings of the company's stock to below 5%[65]. - The company received a first-instance judgment that ruled the defendants' actions as invalid, and the appeal was dismissed, maintaining the original ruling[65]. - The total amount involved in the litigation is estimated at 500 million RMB[64]. - The company is actively pursuing legal actions to recover any illegal gains obtained by the defendants from their stock holdings[65]. - The company is focused on ensuring compliance with legal regulations and protecting shareholder rights[65]. - The company is committed to transparency regarding the progress of the litigation and its implications for shareholders[65]. - The company is involved in multiple lawsuits, including one initiated by the Jingji Group against the company’s 2016 first extraordinary general meeting resolution[67]. - The ongoing legal proceedings involve several directors and third parties, indicating potential governance challenges[67]. Shareholder Information - The company held its first extraordinary shareholders' meeting on March 17, 2017, with an investor participation rate of 67.53%[56]. - The annual shareholders' meeting on June 29, 2017, had a participation rate of 75.25%[56]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[57]. - The total number of ordinary shareholders at the end of the reporting period is 11,265[106]. - The largest shareholder, Jingji Group Co., Ltd., holds 31.65% of the shares, totaling 123,677,371 shares, with 87,723,000 shares pledged[106]. - Shenzhen Huachao Investment Holding Group Co., Ltd. holds 29.85% of the shares, totaling 116,641,816 shares, also with pledged shares[106]. Financial Reporting and Compliance - The half-year financial report has not been audited[60]. - The financial report for the first half of 2017 was not audited[120]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect true and complete information[166]. - The company’s accounting period follows the calendar year, from January 1 to December 31[167]. - The main currency for accounting is RMB, reflecting the primary economic environment of the company[169]. Environmental and Social Responsibility - There are no significant environmental protection issues reported for the company or its subsidiaries[89]. - The company has not initiated any poverty alleviation programs during the reporting period[88].

Financial Performance - The company's operating revenue for 2016 was CNY 1,561,230,908.03, a decrease of 32.18% compared to CNY 2,302,017,620.38 in 2015[17] - The net profit attributable to shareholders of the listed company was CNY 5,960,816.41, down 97.08% from CNY 203,984,396.41 in the previous year[17] - The net cash flow from operating activities was negative CNY 617,796,417.16, a decline of 299.26% compared to CNY 310,049,929.71 in 2015[17] - Basic earnings per share decreased to CNY 0.0153, down 97.06% from CNY 0.52 in 2015[17] - The company reported a net profit excluding non-recurring gains and losses of negative CNY 24,464,246.73, a decrease of 112.73% from CNY 192,205,300.30 in 2015[17] - The weighted average return on net assets was 0.82%, down 32.23% from 33.05% in the previous year[17] - Total revenue for the year was approximately CNY 1.56 billion, with a quarterly breakdown of CNY 319 million in Q1, CNY 424 million in Q2, CNY 448 million in Q3, and CNY 370 million in Q4[22] - Net profit attributable to shareholders was CNY 7.5 million in Q1, CNY 7.1 million in Q2, CNY 15.5 million in Q3, and a loss of CNY 24.1 million in Q4, indicating a significant decline in Q4 performance[22] Asset and Investment Overview - Total assets at the end of 2016 were CNY 1,959,736,873.69, an increase of 0.98% from CNY 1,940,801,275.08 at the end of 2015[17] - The net assets attributable to shareholders of the listed company increased by 1.88% to CNY 730,489,152.36 from CNY 717,023,907.86 in 2015[17] - The company has made significant investments in fixed assets, including updates to its transportation fleet and construction of water supply facilities[30] - The company aims to leverage its strengths in agricultural industry integration to establish a ¥510 million equity investment fund[38] - The company has ongoing non-equity investments totaling ¥179,957,080.45, primarily in water supply projects[68] Business Segments Performance - The agricultural segment remains the core business, focusing on providing high-quality animal protein through a complete supply chain, including self-raising and cooperative models[27] - The public utility segment operates a water supply network with a daily capacity of 380,000 tons, serving over 2 million people, approximately 10% of Shenzhen's population[27] - The real estate segment aims to develop high-end properties in Shenzhen, leveraging the company's historical experience and management capabilities[28] - The financial segment is expanding through equity investments and internet finance, aiming to support modern agriculture and emerging industries[28] - The feed production segment generated ¥971.44 million, accounting for 62.22% of total revenue, with a year-on-year decrease of 4.95%[40] - The real estate development segment's revenue plummeted by 90.60% to ¥73.41 million from ¥780.61 million in 2015[40] - The water supply segment saw a slight increase in revenue to ¥241.46 million, up 0.90% from ¥239.30 million[40] Strategic Focus and Future Plans - The strategic focus is on becoming a leading modern agricultural service provider while balancing risks through diversified business operations[31] - The company plans to adjust its real estate development strategy based on market demand and cash flow contributions, focusing on a 3 to 5-year land reserve plan[36] - The company intends to enhance its feed product structure and reduce operational costs to improve competitiveness in the feed market[81] - The public utility sector will explore PPP project financing to enhance resource utilization and operational efficiency[79] - The financial sector will focus on creating an agricultural industry fund and expanding into areas like agricultural insurance and wealth management[80] Legal and Regulatory Issues - The company is involved in a lawsuit initiated by shareholder Lin Zhi, with claims including the annulment of a jurisdictional ruling and the recovery of litigation costs, with no expected liabilities reported[106] - The company is undergoing bankruptcy liquidation for its subsidiary Shenzhen Kangda (Anhui) Feed Co., Ltd., which was approved by the board on January 31, 2015, and is still in the liquidation process as of the report date[105] - The company is facing a lawsuit regarding the validity of a board resolution made on November 26, 2015, which was claimed to infringe on shareholder rights, with the plaintiffs holding a total of 96,658,221 shares[151] - The court ruled that several resolutions from the board meeting were invalid, including the decision to restrict voting rights and the requirement to reduce shareholding below 5%[152] - The company has received a total of RMB 500 million in claims related to various lawsuits, with specific requests for litigation costs to be borne by the company[110] Shareholder and Governance Structure - The largest shareholder, Jingji Group Co., Ltd., holds 31.65% of the shares, amounting to 123,677,371 shares, which are pledged[166] - Shenzhen Huachao Investment Holding Group Co., Ltd. owns 29.85% of the shares, totaling 116,641,816 shares[166] - The top ten shareholders collectively hold 31.66% of the company's shares, indicating a concentration of ownership[167] - The actual controller of the company is Luo Aihua, who serves as the chairman and has not changed during the reporting period[170] - The company has a commitment to transparency and governance, as evidenced by the detailed reporting of management shareholdings and backgrounds[179] Employee and Management Overview - The total number of employees in the company is 1,695, with 1,648 in major subsidiaries and 47 in the parent company[198] - The company has established a multi-level talent training mechanism to meet the growing demand for talent quality and quantity due to strategic transformation[200] - Employee salaries are distributed monthly based on the company's salary management regulations, with performance bonuses awarded semi-annually and annually based on company performance and individual assessments[199] - The total remuneration paid to independent directors, external directors, senior management, and internal supervisors during the reporting period amounted to 8.4729 million yuan before tax[196] Research and Development - Research and development investment for 2016 was ¥23,212,954.80, an increase of 3.20% compared to ¥22,492,918.62 in 2015, with R&D investment accounting for 1.49% of operating revenue[55] - The company is investing 100 million RMB in research and development for innovative technologies in the real estate sector[186] Environmental and Social Responsibility - The company’s aquaculture base has been recognized as an environmental demonstration base in Xiamen, passing inspections by environmental engineering experts[141] - The company aims to enhance its social responsibility management while providing quality and safe products and services to stakeholders[141]

Financial Performance - The company's operating revenue for Q1 2017 was ¥304,054,735.62, a decrease of 4.69% compared to ¥319,007,018.60 in the same period last year[8]. - The net profit attributable to shareholders was -¥18,481,014.45, representing a decline of 346.53% from ¥7,496,377.31 in the previous year[8]. - The net cash flow from operating activities was -¥137,741,758.47, an increase in cash outflow of 294.78% compared to -¥34,890,465.98 in the same period last year[8]. - The basic earnings per share were -¥0.0473, a decline of 336.50% compared to ¥0.02 in the same period last year[8]. - The weighted average return on net assets was -2.56%, down by 3.61% from 1.05% in the previous year[8]. - The company reported a loss of ¥5,873,896.77 from other operating income and expenses, primarily due to losses from the disposal of taxis[9]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,182,158,177.11, reflecting an increase of 11.35% from ¥1,959,736,873.69 at the end of the previous year[8]. - The net assets attributable to shareholders decreased by 2.50% to ¥712,195,391.48 from ¥730,489,152.36 at the end of the previous year[8]. Events and Transactions - The company suspended its stock trading from December 1, 2016, and resumed on March 1, 2017, due to a major asset restructuring plan that ultimately was terminated on March 26, 2017[18]. - The company received a formal termination letter from the financial advisor of the transaction party on March 24, 2017, indicating a lack of substantial progress in negotiations[18]. - The main reasons for the performance decline included the absence of sales revenue from the Shanhai Shangcheng project and losses from the early disposal of taxis[16]. Compliance and Governance - The company did not have any significant events that would impact its financial status or operating results during the reporting period[17]. - There were no overdue commitments from actual controllers, shareholders, related parties, acquirers, or other related parties during the reporting period[19]. - The company did not engage in any securities investments during the reporting period[21]. - There were no derivative investments made by the company during the reporting period[22]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[25]. - There were no violations regarding external guarantees during the reporting period[24]. Communication and Meetings - The company conducted multiple phone communications to discuss stock suspension, real estate project progress, asset restructuring, and shareholder meeting matters throughout January to March 2017[23].

Financial Performance - The company's operating revenue for 2016 was CNY 1,561,230,908.03, a decrease of 32.18% compared to CNY 2,302,017,620.38 in 2015[17] - The net profit attributable to shareholders of the listed company was CNY 5,960,816.41, down 97.08% from CNY 203,984,396.41 in the previous year[17] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -24,464,246.73, a decline of 112.73% compared to CNY 192,205,300.30 in 2015[17] - The net cash flow from operating activities was CNY -617,796,417.16, a decrease of 299.26% from CNY 310,049,929.71 in 2015[17] - Basic earnings per share were CNY 0.0153, down 97.06% from CNY 0.52 in the previous year[17] - Total revenue for the year was 1,561,230,908.03 CNY, with a quarterly breakdown of 319,007,018.60 CNY in Q1, 423,667,019.73 CNY in Q2, 448,371,901.32 CNY in Q3, and 370,184,968.38 CNY in Q4[22] - Net profit attributable to shareholders was 6,960,815.42 CNY for the year, with a significant loss of 24,148,482.06 CNY in Q4[22] - The company reported a net cash flow from operating activities of -617,175,665.73 CNY for the year, indicating cash flow challenges[22] Asset and Equity - Total assets at the end of 2016 were CNY 1,959,736,873.69, an increase of 0.98% from CNY 1,940,801,275.08 at the end of 2015[17] - The net assets attributable to shareholders of the listed company were CNY 730,489,152.36, up 1.88% from CNY 717,023,907.86 at the end of 2015[17] - The weighted average return on net assets was 0.82%, a decrease of 32.23% from 33.05% in 2015[17] Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares[5] - The company did not distribute cash dividends for 2016, maintaining a cash dividend payout ratio of 0.00%[94] - The company plans to not distribute cash dividends, issue bonus shares, or increase capital from reserves for the 2016 fiscal year[95] Business Segments - The agricultural segment remains the core business, focusing on providing high-quality animal protein through a complete supply chain[27] - The public utility segment serves over 2 million people with a daily water supply capacity of 380,000 tons[27] - The real estate segment aims to develop high-end properties in Shenzhen, leveraging the company's historical experience and land resources[28] - The financial segment is expanding through equity investments and internet finance, targeting modern agriculture and emerging industries[28] Revenue Breakdown - The feed production segment generated ¥971.44 million, accounting for 62.22% of total revenue, with a slight decrease of 4.95% year-on-year[41] - The real estate development segment saw a dramatic decline in revenue, dropping 90.60% to ¥73.41 million from ¥780.61 million in 2015[41] - The water supply segment reported revenue of ¥241.46 million, a year-on-year increase of 0.90%[41] - The company's pig farming products revenue increased by 56.63% to ¥89.62 million, reflecting strong market demand[42] - The financial services segment revenue fell by 71.75% to ¥1.67 million, down from ¥5.92 million in 2015[42] Investments and Projects - The company has made significant investments in fixed assets and construction projects, including the construction of a water plant and updates to transportation assets[30] - The company established a ¥5.1 billion equity investment fund in collaboration with the Beijing Shunyi District government to support modern agriculture and emerging industries[38] - The company has initiated the second phase of the Xiangshan project, with an investment of approximately ¥5.96 million for development[36] Legal and Compliance Issues - The company is currently undergoing bankruptcy liquidation for its subsidiary Shenzhen Kangda (Anhui) Feed Co., Ltd., which was approved by the board on January 31, 2015[106] - The ongoing litigation involves a total claim amount of 500,000 RMB, which has not been recognized as a liability[107] - The company continues to monitor the progress of the litigation and bankruptcy proceedings closely[108] - The company has faced no suspension or termination of listing issues following the annual report disclosure[106] Management and Governance - The company emphasizes a people-oriented management philosophy, ensuring compliance with labor laws and establishing a comprehensive compensation management system to motivate employees[140] - The company has a performance assessment and remuneration management method in place, revised in June 2015[193] - The total remuneration for independent directors during the reporting period was CNY 100,000 per person (pre-tax)[194] Employee and Training - The total number of employees in the company is 1,695, with 1,648 in major subsidiaries and 47 in the parent company[196] - The company plans to enhance training programs in 2017, focusing on skills relevant to business operations and job functions[199] - The training strategy will prioritize internal training while supplementing with external professional courses as needed[199] Social Responsibility - The company is actively involved in social responsibility initiatives, including employee care programs and partnerships with well-known universities for talent development[140] - The company has established a food safety traceability system to ensure compliance with the Food Safety Law and enhance consumer trust in its products[141] - The company has implemented various public welfare activities to improve the overall quality of its employees and foster a culture of social responsibility[140]

Financial Performance - Operating revenue for the reporting period was ¥448,371,901.32, a decrease of 18.90% year-on-year[8]. - Net profit attributable to shareholders of the listed company was ¥15,462,690.48, down 35.88% compared to the same period last year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥17,289,698.42, a decline of 183.32%[8]. - Basic earnings per share decreased by 35.82% to ¥0.0396[8]. - The weighted average return on net assets was 2.10%, down 1.94% from the previous year[8]. - Operating revenue decreased by 33.27% to ¥1,191,045,939.65, mainly due to reduced real estate sales[16]. - The estimated cumulative net profit for the year is projected to be between 1,000 and 3,000 million CNY, representing a decrease of 85.29% to 95.10% compared to the previous year's profit of 20,398 million CNY[29]. - Basic earnings per share are expected to decline to between 0.0256 and 0.0768 CNY, down 85.29% to 95.10% from the previous year's earnings of 0.5220 CNY[29]. - The significant decrease in revenue from real estate development and the substantial reduction in profits from the taxi business are the main reasons for the expected decline in performance[29]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,944,228,836.16, an increase of 0.18% compared to the end of the previous year[8]. - Net assets attributable to shareholders of the listed company increased by 5.41% to ¥755,809,116.48[8]. - Accounts receivable increased by 64.12% to ¥65,657,037.79 due to growth in the industry[16]. - Inventory rose by 241.23% to ¥704,237,318.66 primarily due to increased real estate development costs[16]. - Long-term equity investments surged by 2420.23% to ¥43,775,840.18 due to investments in joint ventures[16]. Cash Flow - The company reported a net cash flow from operating activities of -¥536,109,202.35, a decrease of 289.12% year-on-year[8]. - Net cash flow from operating activities decreased by 289.12% to -¥536,109,202.35, attributed to reduced cash receipts from property sales[16]. - Investment income dropped by 98.11% to ¥434,964.60 due to the exclusion of Anhui Company from consolidation[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,350[12]. - The top two shareholders, Jingji Group and Shenzhen Huachao Investment Holding Group, held 31.65% and 29.85% of shares, respectively[12]. Legal Matters - The company is actively pursuing legal actions against shareholders for alleged violations in stock trading, impacting corporate governance[19]. - The company is currently involved in multiple lawsuits regarding the validity of board resolutions and shareholder rights, with ongoing legal proceedings as of the report date[24][26]. - The Guangdong High Court has accepted a civil lawsuit against certain shareholders for illegal stock trading, with the case number (2015)粤高法民二初字第36号[22]. - The company has received a ruling from the Shenzhen Intermediate People's Court regarding the invalidity of certain board resolutions, which has been appealed by the company[26]. - The ongoing legal disputes may impact the company's operational and financial stability in the near future[24][26]. Communication and Governance - The company has been actively communicating with shareholders regarding annual meetings and project progress through multiple phone calls[32]. - There are no reported violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[33][34]. - The company has not engaged in any securities or derivative investments during the reporting period[30][31]. Other Income - Other comprehensive income increased significantly to ¥7,824,810.16, mainly from the disposal of available-for-sale financial assets[16]. - The company reported a 583.70% increase in non-operating income to ¥46,649,502.73, primarily from land compensation received[16].

Financial Performance - The company's operating revenue for the reporting period was ¥742,674,038.33, a decrease of 39.72% compared to ¥1,232,026,463.52 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥14,646,608.00, down 89.84% from ¥144,229,245.86 year-on-year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥13,430,542.37, a decline of 90.23% compared to ¥137,405,020.07 in the previous year[21]. - The net cash flow from operating activities was -¥526,766,695.44, a significant decrease of 288.82% from ¥278,976,871.99 in the same period last year[21]. - The basic earnings per share were ¥0.0375, down 89.84% from ¥0.3691 in the previous year[21]. - The diluted earnings per share were also ¥0.0375, reflecting the same decline of 89.84% compared to ¥0.3691 last year[21]. - The weighted average return on net assets was 2.01%, a decrease of 22.45% from 24.46% in the previous year[21]. - The estimated cumulative net profit for the period from the beginning of the year to the next reporting period is projected to be between 1,464 and 2,964 million yuan, representing a decrease of 82.39% to 91.30% compared to the previous year[52]. - The basic earnings per share are expected to decline to between 0.0375 and 0.0759 yuan per share, a decrease of 82.39% to 91.30% compared to the previous year[52]. Revenue Breakdown - The real estate development segment reported a revenue drop of 86.03% year-on-year, primarily due to limited sales of remaining units[34]. - The feed production segment generated revenue of CNY 413.93 million, down 17.46% from the previous year, with a gross margin of 9.63%[34]. - The water supply segment's revenue increased by 2.74% to CNY 113.27 million, with a gross margin of 20.96%[34]. - The financial segment's revenue decreased by 55.83% to CNY 1.25 million, with a gross margin of 59.47%[34]. - The pig farming segment reported revenue of CNY 60,782,475.18, up 20.98% compared to the previous year, with a significant growth of 67.44% in the first quarter[35]. - The real estate rental income surged by 77.70% to CNY 12,067,619.81, indicating strong demand in the property market[35]. - The revenue from the water supply segment increased by 20.96% to CNY 113,267,241.53, reflecting stable growth in utility services[35]. - The taxi passenger service revenue grew by 31.19% to CNY 39,679,573.27, despite a decline in the previous quarter[35]. - The revenue from the poultry products segment increased by 16.53% to CNY 25,429,840.12, showing resilience in the agricultural market[35]. - The revenue from the property management segment decreased by 4.67% to CNY 7,333,434.87, indicating challenges in this area[35]. Cash Flow and Assets - The company's cash and cash equivalents decreased from ¥877,744,694.29 at the beginning of the period to ¥299,319,982.70 at the end of the period, representing a decline of approximately 65.9%[126]. - Accounts receivable increased from ¥40,006,087.83 to ¥60,917,262.68, reflecting a growth of about 52.0%[126]. - Inventory surged from ¥206,383,342.85 to ¥728,813,018.28, marking an increase of approximately 253.4%[126]. - Total current assets decreased slightly from ¥1,180,726,870.74 to ¥1,162,896,989.29, a decline of about 1.5%[127]. - Total liabilities decreased from ¥1,138,455,502.61 to ¥1,104,174,546.22, a reduction of approximately 3.0%[128]. - The company's total assets slightly decreased from ¥1,940,801,275.08 to ¥1,939,473,455.65, a change of about 0.1%[129]. - The equity attributable to the parent company increased from ¥717,023,907.86 to ¥740,317,209.66, reflecting a growth of approximately 3.2%[129]. Legal and Compliance Issues - The company reported a significant litigation case involving a claim of RMB 5 million related to land occupation, with a total of 615.19 acres involved[61]. - The company is currently facing a lawsuit with a claim amount of RMB 500,000, which has not yet been adjudicated[60]. - The company is involved in ongoing legal disputes that may impact its operational and financial status, with potential liabilities yet to be determined[60]. - The company has received inquiries from individual investors regarding the progress of real estate projects and development plans, indicating active investor engagement[56]. - The company is under scrutiny regarding stock ownership and potential illegal stock increases by certain shareholders, which may affect its governance[61]. - The company has been involved in litigation regarding administrative rulings related to land use rights, with ongoing appeals[62]. - The company has incurred litigation costs, including court fees and preservation fees, which are being contested in various lawsuits[62]. - The company is actively monitoring the outcomes of its legal proceedings, which may impact its financial position[63]. - The company has received court rulings that have dismissed some of the claims against it, indicating partial legal victories[63]. - The company is involved in multiple lawsuits, including a claim for approximately RMB 49 million due to shareholder rights infringement[63]. Corporate Governance and Shareholder Matters - The company has maintained compliance with corporate governance standards as per the regulations set by the China Securities Regulatory Commission[59]. - The company has not disclosed any significant changes in its financial performance or market strategy during the reporting period[58]. - The company has not provided specific financial guidance or performance outlook for the upcoming periods in the current report[58]. - The total number of common shareholders at the end of the reporting period is 16,768[112]. - The largest shareholder, Jingji Group Co., Ltd., holds 31.65% of the shares, totaling 123,677,371 shares[112]. - The company has not experienced any changes in its controlling shareholder during the reporting period[115]. - The shareholder Wang Shichen holds 2.25% of the shares, totaling 8,774,070 shares[112]. - The company has reported no known relationships or agreements among other shareholders[113]. - The total number of shares held by the top ten unrestricted shareholders is significant, indicating concentrated ownership[113]. Investment and Acquisitions - The company completed the acquisition of a 50% stake in Shenzhen Fengshou Investment Management Co., Ltd. for 5 million RMB, effective May 31, 2016[71]. - The acquisition of Shenzhen Fengshou Investment Management Co., Ltd. has not significantly impacted the company's financial status or operating results for the reporting period[71]. - The company made external investments totaling CNY 79,600,000, marking a 100% increase from the previous year when no investments were made[38]. - The company plans to continue its strategy of mergers and acquisitions to achieve rapid breakthroughs in agriculture and finance sectors[36]. Financial Reporting and Standards - The semi-annual financial report was not audited, indicating that the figures presented are unaudited[124]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect true and complete information[166]. - The financial statements are prepared based on the going concern assumption, indicating no factors affecting the company's ability to continue operations within the next 12 months[164]. - The accounting period for the company follows the calendar year, from January 1 to December 31[167]. - The company recognizes deferred tax assets related to deductible temporary differences if new information indicates that the economic benefits can be realized within 12 months post-acquisition, reducing goodwill accordingly[173].

Financial Performance - The company's operating revenue for Q1 2016 was ¥319,007,018.60, a decrease of 12.93% compared to ¥366,389,150.48 in the same period last year[8] - Net profit attributable to shareholders increased by 25.53% to ¥7,496,377.31 from ¥5,971,752.53 year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 41.82% to ¥7,288,491.77 compared to ¥5,139,208.05 in the previous year[8] - Basic and diluted earnings per share increased by 25.49% to ¥0.0192 from ¥0.0153 year-on-year[8] - The estimated cumulative net profit for the period from the beginning of the year to the next reporting period is projected to be between 1,500 and 4,700 thousand yuan, representing a decrease of approximately 89.60% compared to the previous year's profit of 14,422.92 thousand yuan[21] - Basic earnings per share are expected to decline to between 0.038 and 0.120 yuan, down from 0.369 yuan in the same period last year, indicating a decrease of about 89.60%[21] - The significant drop in revenue and profit is attributed to the reduced sales from the real estate development project "Shan Hai Shang Yuan" in the first half of 2015, where most sales were realized[21] Cash Flow and Assets - The net cash flow from operating activities decreased significantly by 124.13%, resulting in a negative cash flow of ¥34,890,465.98, down from ¥144,570,940.37 in the same period last year[8] - Total assets at the end of the reporting period were ¥1,890,997,262.77, a decrease of 2.57% from ¥1,940,801,275.08 at the end of the previous year[8] - Long-term equity investments increased by 1303.23% compared to the beginning of the year due to capital injection into an affiliated company[15] - Other non-current assets increased by 68.41% mainly due to prepayments for the construction of the Banxuegang Water Plant project[15] - Prepayments increased by 55.93% primarily due to prepayments for fish feed[15] Expenses and Legal Matters - Sales expenses decreased by 34.74% compared to the same period last year, mainly due to reduced real estate sales expenses[15] - The company faced a lawsuit regarding the non-effectiveness of a land acquisition agreement for 615.19 acres, but the case was withdrawn by the plaintiff, eliminating any impact on the company's profits[17] Corporate Governance and Communication - The company has not engaged in any securities or derivative investments during the reporting period[22][23] - There were no violations regarding external guarantees during the reporting period[25] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[26] - The company is currently fulfilling commitments made during its restructuring and public offerings, with ongoing compliance[20] - The company has been actively communicating with investors regarding project progress and shareholder concerns through multiple phone calls[24] - The company disclosed a report on equity changes and the termination of a concerted action agreement among major shareholders[18]