广东广弘控股股份有限公司 2022 年第三季度报告 证券代码：000529 证券简称：广弘控股 公告编号：2022-81 广东广弘控股股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 （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 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 □是 否 1 广东广弘控股股份有限公司 2022 年第三季度报告 一、主要财务数据 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 767,862,270.99 | 12.82% | 2, ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,902,165,346.88, representing a 16.12% increase compared to CNY 1,638,137,278.71 in the same period last year[20]. - The net profit attributable to shareholders decreased by 30.30% to CNY 117,782,530.93 from CNY 168,974,600.54 year-on-year[20]. - Basic earnings per share fell by 30.34% to CNY 0.202, down from CNY 0.290 in the same period last year[20]. - The company reported a revenue of CNY 47,348 million for frozen pork, representing a year-on-year increase of 27.44%, while frozen beef and lamb revenue reached CNY 27,798 million, up 41.06%[52]. - The total profit for the first half of 2022 was CNY 184,875,020.79, down from CNY 246,714,917.14 in the same period of 2021, a decline of approximately 25.1%[182]. - The company reported a decrease in management expenses from CNY 109,241,055.65 in the first half of 2021 to CNY 76,261,295.26 in the first half of 2022, a reduction of about 30.2%[182]. Cash Flow and Assets - The net cash flow from operating activities improved significantly, reaching CNY 60,546,181.54, a 267.76% increase from a negative cash flow of CNY 36,089,972.28 in the previous year[20]. - The company's cash and cash equivalents increased by 60.48% to ¥543,165,249.35, compared to ¥338,457,202.28 in the previous year[62]. - Total assets increased by 13.14% to CNY 5,329,695,682.55 compared to CNY 4,710,560,379.06 at the end of the previous year[20]. - Cash and cash equivalents at the end of the reporting period amounted to ¥3,280,827,486.93, representing 61.56% of total assets, an increase of 3.47% compared to the previous year[70]. - Total current assets increased to CNY 4,211,103,350.75 as of June 30, 2022, up from CNY 3,622,536,365.08 at the beginning of the year, representing a growth of approximately 16.2%[174]. Market and Product Development - The sales revenue of beef and lamb products increased by 41.1% to 278 million yuan, while frozen poultry sales rose by 73.8% to 164 million yuan in the first half of 2022[38]. - The company is expanding its product offerings to include pre-prepared dishes and enhancing its brand presence in the market[42]. - The company aims to become a leading provider of green food and quality cold chain logistics services, focusing on transforming and upgrading its core business[41]. - The company is actively pursuing new technology development to improve operational efficiency and customer engagement[121]. - Future guidance indicates a projected revenue growth of 20% for the upcoming fiscal year[120]. Risk Management and Compliance - The company has outlined potential risks and countermeasures in its management discussion and analysis section[4]. - The company is actively addressing risks related to the African swine fever by implementing strict biosecurity measures and monitoring protocols to ensure sustainable development[88]. - The company has implemented measures to enhance food safety management and prevent the entry of unverified frozen food into the market[89]. - The company has established a comprehensive governance model for food safety, involving collaboration with regulatory authorities for regular nucleic acid testing of frozen products[89]. - The company has not faced any major animal disease outbreaks or natural disasters that could impact its operations during the reporting period[50]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The annual shareholders' meeting had a participation rate of 67.29% on June 30, 2022[91]. - The company has established a robust investor relations management system, ensuring fair and transparent communication with shareholders[104]. - The company adheres to a stable profit distribution policy, in line with regulations and its three-year dividend plan (2020-2022)[103]. - The company has committed to maintaining operational independence and compliance with relevant regulations[108]. Environmental and Social Responsibility - The company is committed to environmental protection, adopting eco-friendly breeding technologies and achieving a target of 300,000 pigs per year at the Xingning base[103]. - The company has actively engaged in social responsibility initiatives, including emergency supply of frozen pork during the COVID-19 pandemic, receiving government recognition[101]. - The company has received environmental impact assessment approval and a pollution discharge permit for its construction projects[99]. - The company has a normal operation of pollution prevention facilities, including a biogas pool and wastewater treatment station[98]. - The company has strengthened its production management and standardized production processes to ensure product safety[89].

Financial Performance - The company's operating revenue for 2021 was CNY 3,637,711,649.08, representing a 7.16% increase from CNY 3,394,669,520.30 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 331,084,864.83, a 5.01% increase compared to CNY 315,293,864.60 in 2020[22]. - The net cash flow from operating activities decreased by 65.37% to CNY 199,305,207.08 in 2021 from CNY 575,580,973.18 in 2020[22]. - Total assets at the end of 2021 were CNY 4,710,560,379.06, a 21.56% increase from CNY 3,875,185,385.83 at the end of 2020[23]. - The net assets attributable to shareholders increased by 12.74% to CNY 2,315,021,651.70 at the end of 2021 from CNY 2,053,449,989.31 at the end of 2020[23]. - The basic earnings per share for 2021 was CNY 0.57, up 5.56% from CNY 0.54 in 2020[22]. - The company reported a decrease in the weighted average return on net assets to 15.25% in 2021 from 16.46% in 2020[22]. - The company experienced a decline in net profit after deducting non-recurring gains and losses, which was CNY 292,335,492.94 in 2021, down 2.21% from CNY 298,931,570.37 in 2020[22]. - The company reported a total revenue of 15,000 million, representing a 70% increase compared to the previous period[84]. - The net loss for the period was 471.4 million, indicating a significant financial challenge[84]. Dividend and Profit Distribution - The company reported a profit distribution plan to distribute a cash dividend of 1.5 RMB per 10 shares (including tax) based on a total of 583,790,330 shares[6]. - The cash dividend distribution plan for 2021 is to distribute RMB 1.5 per 10 shares, totaling RMB 87,568,549.50, which accounts for 100% of the profit distribution[161]. - The company’s total distributable profit for 2021 was RMB 262,434,929.08 after accounting for statutory and discretionary reserves[162]. Business Operations and Strategy - The company operates in the cold chain logistics sector, which has seen strong growth due to rising consumer demand and supportive government policies[33]. - The company has a diversified business model, including food supply, livestock breeding, and educational publishing, contributing to its competitive advantage[35]. - The company is transitioning its meat business model from a storage and wholesale approach to a modern cold chain logistics model, enhancing its core competitiveness[45]. - The company plans to continue enhancing brand recognition and expanding the influence of its food supply and distribution brands, including "Guangshi" and "Guanghong Breeding Pigs"[46]. - The company is focusing on integrating business and financial data to support management decisions, with the project already underway[52]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position[84]. - The company is investing in research and development to innovate in the agricultural technology space[84]. - The company is focusing on the development of new products, including organic fertilizers and feed additives[85]. - The company is investing in research and development to improve livestock breeding techniques[85]. Market and Sales Performance - The company achieved a total operating revenue of 3.638 billion yuan in 2021, representing a year-on-year growth of 7.16%[47]. - The sales revenue for frozen pork was 860.42 million yuan, down 7.61% year-on-year, while frozen beef and lamb sales increased by 44.05% to 517.05 million yuan[40]. - The company’s frozen pork sales volume increased by 17.68% to 36,776 tons, while frozen beef and lamb sales volume rose by 35.96% to 9,690 tons[44]. - The company reported a 27.4% increase in national pig output in 2021, totaling 67,128,000 heads compared to the previous year[34]. - The average price of external three-way pigs dropped by 55.39% from ¥36.94 per kg at the beginning of 2021 to ¥16.48 per kg by the end of the year[34]. Risk Management and Compliance - The company has outlined potential risks and countermeasures in its management discussion and analysis section, focusing on future development challenges[6]. - The company has not reported any significant uncertainties regarding its ability to continue as a going concern[25]. - The company is focusing on agricultural technology development and services, which are expected to drive future growth[84]. - The company faces risks from the African swine fever and COVID-19, with measures in place to ensure compliance with national regulations and enhance food safety management[113]. - The company emphasizes the importance of food safety and quality management, implementing strict controls to prevent unsafe products from entering the market[114]. Governance and Internal Control - The company has established a governance structure that complies with relevant laws and regulations, with clear responsibilities among the board, supervisory board, and management[119]. - The company has implemented strict insider trading prevention measures, with no incidents of insider trading reported during the reporting period[120]. - The company has developed a robust internal control system to enhance operational efficiency and compliance with corporate governance standards[119]. - The company has maintained effective internal control over financial reporting as of December 31, 2021, according to the internal control audit report[168]. - The audit committee confirmed that Lixin Certified Public Accountants met the legal requirements for auditing listed companies and had extensive experience in providing audit services[149]. Environmental and Social Responsibility - The company has a commitment to environmental and social responsibility, as detailed in its annual report[5]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[172]. - The company reported a total discharge of 60,201.8 tons/year for wastewater, with no exceedances of discharge standards[172]. - The company has implemented measures to address environmental compliance, with no significant violations reported[172]. - The company emphasizes the importance of social responsibility and environmental protection, aligning its operations with sustainable development goals[176]. Research and Development - Research and development expenses increased by 23.30% to CNY 11,243,861.42, reflecting the company's commitment to enhancing its R&D efforts[67]. - The R&D department has reported a 30% increase in project outputs, focusing on sustainable food production technologies[136]. - The company completed several R&D projects aimed at improving product quality and competitiveness, including the breeding of specific chicken traits and the development of traditional Chinese medicine for disease resistance[69]. Employee and Management Information - The company employed a total of 1,675 staff members at the end of the reporting period, with 642 in production, 366 in sales, and 129 in technical roles[155]. - The total pre-tax compensation for the chairman, Cai Biao, is 241.97 million[140]. - The total pre-tax compensation for the general manager and financial officer, Miao Anmin, is 205.47 million[140]. - The total pre-tax compensation for the vice chairman, Gao Hongbo, is not disclosed[140]. - The total pre-tax compensation for the vice general manager, Huang Wanxing, is 200.28 million[140]. - The total pre-tax compensation for the chief engineer, Liu Hanlin, is 192.73 million[140].

Financial Performance - In 2021, the company's operating revenue reached ¥3,637,711,649.08, representing a 7.16% increase compared to ¥3,394,669,520.30 in 2020[22]. - The net profit attributable to shareholders was ¥331,084,864.83, up by 5.01% from ¥315,293,864.60 in the previous year[22]. - The net cash flow from operating activities decreased significantly by 65.37%, amounting to ¥199,305,207.08 compared to ¥575,580,973.18 in 2020[22]. - Total assets increased by 21.56% to ¥4,710,560,379.06 from ¥3,875,185,385.83 in 2020[23]. - The net assets attributable to shareholders rose by 12.74% to ¥2,315,021,651.70 from ¥2,053,449,989.31 in the previous year[23]. - Basic earnings per share increased by 5.56% to ¥0.57 from ¥0.54 in 2020[22]. - The company reported a decrease in the weighted average return on net assets to 15.25% from 16.46% in 2020[22]. - The company achieved a total operating revenue of 3.638 billion yuan in 2021, representing a year-on-year growth of 7.16%[50]. - Operating profit reached 442 million yuan, an increase of 9.65% compared to the previous year[50]. - The total profit amounted to 488 million yuan, reflecting a year-on-year growth of 17.78%[50]. - Net profit for the year was 385 million yuan, which is a 9.58% increase from the previous year[50]. Revenue and Sales - The company reported a sales revenue of 860.42 million yuan for frozen pork, down 7.61% year-on-year, while frozen beef and lamb sales increased by 44.05% to 517.05 million yuan[43]. - The inventory of frozen pork increased by 7.75% to 9,928 tons, while frozen beef and lamb inventory surged by 131.2% to 1,193 tons[47]. - The book publishing industry contributed ¥1,617,125,227.93, accounting for 44.45% of total revenue, with an 8.61% increase compared to the previous year[57]. - The food industry generated ¥2,020,586,421.15, making up 55.55% of total revenue, with a year-on-year growth of 6.03%[57]. - Frozen product sales increased by 16.62% to ¥1,664,203,464.69, while cold storage operations saw a 3.78% rise to ¥89,145,558.38[57]. - The company’s revenue from Guangdong province was ¥3,537,366,243.50, representing 97.24% of total revenue, with a 4.70% increase year-on-year[59]. - Revenue from outside Guangdong province skyrocketed by 526.64% to ¥100,345,405.58, indicating significant market expansion[59]. Investments and Subsidiaries - The company established a wholly-owned subsidiary, Guangdong Nanhai Yellow Poultry Development Co., Ltd., with an investment of ¥15 million, completed registration on February 21, 2021[65]. - The company also set up Guangdong Guanghong Agricultural and Animal Husbandry Development Co., Ltd. with a total investment of ¥10 million, which was registered on July 5, 2021[66]. - The company established several wholly-owned subsidiaries to enhance future operational capabilities, which did not significantly impact current performance[104]. - The company plans to invest a total budget of RMB 395.5673 million for the construction of a large-scale pig farming project, aiming to supply approximately 300,000 high-quality pigs annually once fully operational[155]. - The company will establish Guangdong Guanghong Animal Husbandry Development Co., Ltd. with a registered capital of RMB 10 million, fully funded by the company[155]. - The company will invest RMB 50 million to set up Guangdong Guanghong Smart Port Food Industry Development Co., Ltd. in Zengcheng District, Guangzhou[156]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting, with key personnel confirming the report's authenticity[5]. - The company has established a governance structure compliant with relevant laws and regulations, including a board of directors and supervisory board[123]. - The board consists of 8 members, including 3 independent directors, ensuring effective oversight and decision-making[123]. - The company has implemented strict insider trading prevention measures, ensuring no incidents of insider trading occurred during the reporting period[124]. - The company has established a clear organizational structure with distinct responsibilities among its governance bodies[125]. - The company has not reported any major equity sales during the reporting period[101]. Market Trends and Future Outlook - The cold chain logistics industry is projected to grow rapidly, supported by government policies and increasing consumer demand for diverse food products[32]. - The company is focusing on agricultural technology development and service expansion to enhance operational efficiency[88]. - Future guidance indicates a commitment to improving profitability and operational performance in the upcoming quarters[88]. - The company plans to enhance its market presence through strategic partnerships and collaborations in the agricultural sector[88]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position[88]. - The company aims to increase its product offerings in the agricultural sector, including feed additives and fertilizers[88]. Environmental and Social Responsibility - The company has implemented measures to address environmental issues, including the installation of permanent deodorization facilities and the use of odor-reducing agents in feed[179]. - The company received a fine of RMB 100,000 for exceeding odor emission standards, but it did not impact operations significantly[179]. - The company has established a biogas pool and wastewater treatment station, both of which are operating normally[177]. - The company is focused on establishing a sustainable and eco-friendly farming model that includes waste resource utilization and pollution reduction[182]. - The company has committed to avoiding conflicts of interest and ensuring fair treatment of all shareholders during its acquisition processes[186]. - The company emphasizes transparency and communication with investors through various channels, including shareholder meetings and online voting[182]. Employee and Management Information - The total number of employees at the end of the reporting period was 1,675, with 58 from the parent company and 1,617 from major subsidiaries[159]. - The total compensation for the management team was reported at 1.2 million RMB, with 9 out of 14 executives receiving remuneration during the reporting period[143]. - The total pre-tax compensation for the chairman, Cai Biao, is 241.97 million[144]. - The total pre-tax compensation for the general manager, Miao Anmin, is 205.47 million[144]. - The company has implemented training programs to enhance employee skills in various areas, including compliance and financial management[162]. Financial Reporting and Audit - The company maintained effective internal control over financial reporting as of December 31, 2020, in accordance with relevant regulations[152]. - The internal control audit report was issued with a standard unqualified opinion, confirming alignment with the board's self-assessment[173]. - The company has not issued any non-standard audit reports for the current period[190]. - The current domestic accounting firm is Lixin Certified Public Accountants (Special General Partnership) with an audit service fee of 1.13 million CNY[198]. - The internal control audit service was approved by the board on August 20, 2021, and later by the shareholders on September 9, 2021[198].

Financial Performance - The company's operating revenue for Q1 2022 was ¥795,813,402.79, representing a 25.55% increase compared to ¥633,852,363.76 in the same period last year[3] - The net profit attributable to shareholders was ¥49,837,016.91, a 7.07% increase from ¥46,545,026.44 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥47,950,691.29, up 12.68% from ¥42,553,038.48 in the previous year[3] - Total operating revenue for the first quarter reached ¥795,813,402.79, an increase of 25.6% compared to ¥633,852,363.76 in the same period last year[22] - The total profit for Q1 2022 was approximately ¥70.57 million, an increase from ¥59.91 million in Q1 2021, representing a growth of about 17.5%[23] - The net profit for Q1 2022 reached approximately ¥53.81 million, compared to ¥44.13 million in the same period last year, marking an increase of around 21.9%[23] - The basic and diluted earnings per share for Q1 2022 were both ¥0.0854, up from ¥0.080 in Q1 2021, reflecting a growth of 4.25%[24] Assets and Liabilities - The company's total assets increased by 8.06% to ¥5,090,177,941.69 from ¥4,710,560,379.06 at the end of the previous year[3] - Total assets reached ¥5,090,177,941.69, up from ¥4,710,560,379.06, reflecting an increase of 8.1%[19] - Current liabilities totaled ¥1,946,318,703.98, an increase of 16.3% from ¥1,672,911,639.98 at the beginning of the year[20] - Non-current liabilities increased to ¥670,945,229.62 from ¥618,545,661.44, marking an 8.5% rise[20] - The company's retained earnings rose to ¥928,004,150.62 from ¥878,167,133.72, showing a growth of 5.7%[20] Cash Flow - The cash flow from operating activities improved significantly, with a net cash outflow of -¥3,601,204.55, a 96.81% improvement from -¥113,025,705.95 in the same period last year[3] - Cash inflow from operating activities totaled approximately ¥854.21 million, compared to ¥755.23 million in Q1 2021, indicating an increase of about 13.1%[26] - The net cash flow from operating activities was negative at approximately -¥3.60 million, an improvement from -¥113.03 million in the previous year[27] - Cash outflow from investing activities was approximately ¥70.03 million, significantly higher than ¥18.27 million in Q1 2021, indicating increased investment activity[27] - Cash inflow from financing activities was approximately ¥183.53 million, compared to ¥152.61 million in Q1 2021, showing an increase of about 20.3%[27] - The net increase in cash and cash equivalents for Q1 2022 was approximately ¥74.85 million, a recovery from a decrease of -¥116.60 million in the same period last year[27] - The total cash and cash equivalents at the end of Q1 2022 stood at approximately ¥2.81 billion, up from ¥2.15 billion at the end of Q1 2021, representing a growth of about 30.5%[27] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 36,371[10] - The actual controller, Guangdong Provincial Publishing Group Co., Ltd., holds approximately 53.44% of the total shares of Guangdong Guanghong Holdings Co., Ltd.[14] Corporate Actions - The company plans to resolve the competition issue between its subsidiary Education Bookstore and the publishing group by acquiring shares in the publishing group[15] - The company has approved the establishment of Guangdong Guanghong Investment Development Co., Ltd. with a registered capital of RMB 100 million to enhance its investment capabilities[16] Related Transactions and Financial Support - The estimated amount of daily related transactions with Southern Publishing Media Co., Ltd. for 2022 is expected to be RMB 416.04 million[13] - Guangdong Guanghong Holdings Co., Ltd. received financial support from its controlling shareholder, Guangdong Guanghong Asset Management Co., Ltd., with a total amount not exceeding RMB 1 billion at an interest rate not exceeding the one-year LPR[13] Operating Costs - The company reported a 40.16% increase in operating costs, amounting to ¥673,028,357.50, primarily due to the growth in operating revenue[7] - Total operating costs amounted to ¥730,458,735.02, up 26.5% from ¥577,152,780.32 year-on-year[22]

广东广弘控股股份有限公司 2021 年第三季度报告 证券代码：000529 证券简称：广弘控股 公告编号：2021-58 广东广弘控股股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信 息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期 | | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | 年初至报告期末 | 年同期增减 | | 营业收入（元） | 680,599,316.03 | -3.78% | 2,318,736,594.74 | 3.78% ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,638,137,278.71, representing a 7.28% increase compared to CNY 1,526,985,581.13 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 168,974,600.54, an increase of 8.15% from CNY 156,244,992.97 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 167,002,217.37, which is a 10.72% increase compared to CNY 150,836,086.45 in the same period last year[21]. - The basic earnings per share for the reporting period was CNY 0.29, a 7.41% increase from CNY 0.27 in the same period last year[21]. - The company's total assets at the end of the reporting period were CNY 4,208,826,675.10, reflecting a 12.81% increase from CNY 3,730,748,905.19 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were CNY 2,044,591,522.33, up 5.11% from CNY 1,945,122,628.83 at the end of the previous year[21]. - The company's revenue for the current period is ¥1,638,137,278.71, representing a year-over-year increase of 7.28% compared to ¥1,526,985,581.13 in the same period last year[55]. - The net cash flow from operating activities was negative CNY 36,089,972.28, a significant decrease of 117.24% compared to a positive CNY 209,299,984.41 in the previous year[21]. - The company's revenue from frozen pork products decreased by 14.94% to 37.579 million RMB, while revenue from frozen beef and lamb products increased by 38.01% to 19.706 million RMB[45]. - The gross margin for frozen pork products fell by 0.49 percentage points to 2.1%, while the gross margin for frozen beef and lamb products rose by 0.59 percentage points to 1.46%[45]. Operational Highlights - The food cold chain service segment saw a significant increase in beef and lamb sales revenue, contributing to stable market performance despite challenges from the pandemic and price fluctuations[33]. - The education segment successfully completed the "one book per student" initiative, ensuring timely delivery of textbooks across the province[34]. - The livestock segment maintained a zero incidence of African swine fever and avian influenza during the reporting period, enhancing operational stability[35]. - The company is advancing the construction of a large-scale pig farming project, which is part of the key construction projects for 2021 in Guangdong province[37]. - The company has established a new management cold storage facility with a capacity of 14,000 tons, enhancing operational efficiency[33]. - The company is actively expanding its sales channels in response to declining pork prices, aiming to boost sales volume[35]. - The company is focusing on the development of the "Yue Education Service Cloud Platform" to enhance its educational publishing business and increase market share[34]. Market Trends and Projections - The cold chain logistics market in China reached a scale of 339.1 billion RMB in 2019, with a year-on-year growth of 17.5%[40]. - By 2021, the cold chain logistics market is expected to exceed 450 billion RMB, driven by the growth of the online economy due to the COVID-19 pandemic[41]. - As of the end of Q2 2021, the national pig inventory was 43.91 million heads, a year-on-year increase of 29.2%, while pig prices dropped by 55.6% from the beginning of the year[41]. Investment and Development - The company aims to transform its business model from "storage + wholesale" to "storage + distribution + retail" to enhance its core competitiveness in the cold chain logistics sector[52]. - The company plans to continue enhancing its brand recognition and market share through technological innovation and product development[53]. - The company is investing in new product development and technology to improve poultry farming efficiency[69]. - The company is focusing on optimizing asset allocation and enhancing operational efficiency through strategic asset sales and investments[77]. - The company plans to expand its market presence, focusing on new product development and technological advancements[196]. Financial Management and Strategy - The company reported a significant decline in revenue from poultry sales, which dropped by 60.42% due to market regulation and price decreases[59]. - The company has not reported any major equity sales during the period, maintaining its current ownership structure[78]. - The overall financial health of the company remains stable, with a focus on sustainable growth and profitability across its subsidiaries[79]. - The company has a good integrity status, with no significant debts or unfulfilled court judgments during the reporting period[112]. - The company is committed to investor rights protection and has strengthened investor relations management[99]. Governance and Compliance - The company has appointed new executives, including a vice president and an independent director, to enhance governance[89]. - The company organized an online performance briefing for investors, enhancing communication and transparency[99]. - The company has not engaged in any violations regarding external guarantees during the reporting period[104]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[158]. Future Outlook - The company has not disclosed specific performance guidance for the upcoming quarters[70]. - Future guidance indicates a cautious outlook, with expected revenue growth of approximately 3% in the next quarter[116]. - The company aims to enhance shareholder value through strategic acquisitions and partnerships in the upcoming quarters[196].

Financial Performance - The company's operating revenue for 2020 was CNY 3,394,669,520.30, representing a 12.43% increase from CNY 3,019,284,993.64 in 2019[18]. - The net profit attributable to shareholders for 2020 was CNY 301,791,718.84, a 22.61% increase compared to CNY 246,132,048.03 in 2019[18]. - The net cash flow from operating activities surged by 286.19% to CNY 575,580,973.18 from CNY 149,041,526.00 in the previous year[18]. - Basic earnings per share increased by 23.81% to CNY 0.52 in 2020, up from CNY 0.42 in 2019[18]. - Total assets at the end of 2020 reached CNY 3,730,748,905.19, a 45.31% increase from CNY 2,567,453,120.77 at the end of 2019[18]. - The net assets attributable to shareholders rose by 14.30% to CNY 1,945,122,628.83 at the end of 2020, compared to CNY 1,701,709,942.99 at the end of 2019[18]. - The company reported a quarterly operating revenue of CNY 1,160,318,201.80 in Q4 2020, contributing significantly to the annual total[22]. - The net profit attributable to shareholders in Q4 2020 was CNY 56,834,695.32, reflecting the company's strong performance in the last quarter[22]. - The company achieved operating revenue of 3.395 billion yuan, a year-on-year increase of 12.43%[29]. - The net profit attributable to shareholders was 302 million yuan, reflecting a year-on-year growth of 22.61%[29]. - The company reported a revenue of 93,129 million CNY from frozen pork, a year-on-year increase of 17.1%, while the gross margin decreased by 1.09 percentage points to 1.98%[64]. Dividend Distribution - The company reported a cash dividend of 1.1 yuan per 10 shares (including tax) based on a total of 583,790,330 shares[6]. - The cash dividend distribution plan for 2020 is to distribute CNY 1.1 per 10 shares, totaling CNY 64,216,936.30, which represents 21.28% of the net profit[145]. - In 2019, the net profit was CNY 246,132,048.03, with a cash dividend of CNY 1.00 per 10 shares, totaling CNY 58,379,033.00, which was 23.72% of the net profit[141]. - In 2018, the net profit was CNY 167,163,643.37, with a cash dividend of CNY 0.70 per 10 shares, totaling CNY 40,865,323.10, which was 24.45% of the net profit[140]. - The company has maintained a consistent cash dividend policy over the past three years, ensuring the protection of minority shareholders' rights[139]. - The cash dividend for 2020 represents 100% of the total profit distribution amount[145]. Risk Management and Compliance - The company is committed to maintaining transparency and accuracy in its financial reporting, ensuring no misleading statements or omissions[5]. - The company has outlined potential risks and countermeasures in its future development outlook section[6]. - The company emphasizes the importance of risk awareness for investors regarding forward-looking statements in the report[6]. - The company operates in compliance with the Shenzhen Stock Exchange's disclosure requirements for livestock, aquaculture, and food manufacturing businesses[6]. - The company is committed to high-quality development and brand enhancement, with ongoing efforts to improve product technology and market competitiveness[42]. - The company emphasizes strict compliance with food safety regulations and management practices to mitigate operational risks[138]. - The company has implemented measures to enhance food quality safety management and ensure stable production amidst ongoing pandemic challenges[138]. Operational Highlights - The frozen food trade segment saw stable revenue growth despite challenges from the COVID-19 pandemic and African swine fever, optimizing customer structure and expanding sales channels[29][30]. - The sales price of breeding pigs and commercial pigs significantly increased due to reduced market supply, leading to substantial growth in pig sales revenue[30]. - The company’s construction in progress increased by 431.65% compared to the beginning of the year, primarily due to payments for a smart digital breeding project[35]. - Cash and cash equivalents rose by 8.48% compared to the beginning of the year, driven by compensation received and increased cash flow from operating activities[35]. - Accounts receivable increased by 28.73% compared to the beginning of the year, mainly due to an increase in book receivables[35]. - Inventory increased by 82.65% compared to the beginning of the year, influenced by delayed settlements in the book business and increased frozen pork storage tasks[35]. - The company is positioned as a leading player in the South China region within the meat food industry, utilizing a "cold storage + market" business model[33]. Investments and Subsidiaries - The company established a new subsidiary, Xining Guanghong Agricultural and Animal Husbandry Development Co., Ltd., with a registered capital of CNY 100 million[81]. - The company established a joint venture to build a large-scale, intelligent, and environmentally friendly pig farming base, expected to add 2,588 breeding sows and produce 18,000 quality breeding pigs annually[50]. - The company made significant equity investments totaling 20 million yuan in Guangdong Southern Media and 20 million yuan in Guangdong Zhongkai Cultural Group during the reporting period[102]. - The company has ongoing non-equity investments in smart digital breeding projects with a total investment of 4.387 million yuan, which is expected to yield a return of 30.93%[106]. - The company has established Guangdong Southern Zijing Education Technology Co., Ltd. with a total investment of 3.4 million yuan, completed registration on July 8, 2020[183]. Future Outlook - The company plans to continue enhancing brand awareness and expanding its market presence through strategic integration of its food supply chain and cold chain services[40]. - The company aims to enhance its core competitiveness and risk resistance by focusing on green food and education services, with a strategy of transformation, resource integration, and external expansion[122]. - Future guidance indicates a projected revenue growth of 10% for the upcoming fiscal year[172]. - The company plans to invest 390 million in technology upgrades to enhance operational efficiency[172]. - The company is exploring potential acquisitions to diversify its product offerings and expand market reach[172]. Governance and Internal Control - The company is committed to improving its governance level by refining its internal control system and enhancing safety production management[129]. - The company confirmed that there were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[150]. - The company has maintained a good integrity status, with no significant debts or court judgments unmet during the reporting period[168]. - The company has not faced any major litigation or arbitration matters during the reporting period[166]. - The company has retained its accounting firm, Lixin Certified Public Accountants, for internal control audits for the year 2020, with an audit fee of 200,000 yuan[164].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 633,852,363.76, representing a 24.08% increase compared to CNY 510,854,322.09 in the same period last year[9]. - Net profit attributable to shareholders for Q1 2021 was CNY 46,545,026.44, up 7.58% from CNY 43,263,784.92 in the previous year[9]. - Basic earnings per share increased by 14.29% to CNY 0.08 from CNY 0.07 in the previous year[9]. - The net profit for Q1 2021 reached CNY 44,134,348.59, representing a 17.0% increase from CNY 37,383,012.29 in Q1 2020[44]. Cash Flow - The net cash flow from operating activities was negative at CNY -113,025,705.95, a decline of 315.94% compared to CNY -27,173,719.15 in the same period last year[9]. - The total cash inflow from operating activities was ¥755,225,456.68, compared to ¥607,490,798.74 in the previous period, marking an increase of approximately 24.3%[50]. - The total cash outflow from operating activities was ¥868,251,162.63, compared to ¥634,664,517.89 in the previous period, an increase of about 37%[50]. - The net cash flow from financing activities was ¥14,604,863.78, a decrease from ¥105,626,605.37 in the previous period, reflecting a decline of approximately 86.2%[51]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,951,268,978.96, reflecting a 5.91% increase from CNY 3,730,748,905.19 at the end of the previous year[9]. - The company's total liabilities reached CNY 1,868,462,211.11, up from CNY 1,686,460,170.64, indicating a rise of approximately 10.8%[36]. - Current liabilities increased to CNY 1,340,872,898.84 from CNY 1,230,957,382.45, which is an increase of about 8.9%[36]. - The total assets amounted to ¥3,772,336,997.36, reflecting an increase of ¥41,588,092.17 due to adjustments from the new leasing standards[58]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,694[12]. - The largest shareholder, Guangdong Guanghong Asset Management Co., Ltd., holds 51.50% of the shares[12]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13]. Inventory and Receivables - Inventory increased by 32.89% to ¥724,231,149.81 from ¥544,985,169.51, attributed to slower settlement progress in the book business with schools[17]. - Other receivables rose by 71.99% to ¥13,034,625.04 from ¥7,578,538.75, primarily due to increased receivables for frozen pork reserve subsidies[17]. - Accounts receivable increased to CNY 229,832,433.23 from CNY 215,934,264.26, showing a growth of approximately 6.4%[34]. Research and Development - R&D expenses surged by 100% to ¥2,735,465.30, reflecting a significant increase in investment in research and development[18]. - The company incurred research and development expenses of CNY 2,735,465.30 in Q1 2021[43]. Investments and Subsidiaries - A new wholly-owned subsidiary, Guangdong Nanhai Yellow Breeding Development Co., Ltd., was established with an investment of ¥15 million to enhance business operations[20]. - The company reported no significant changes in its financial asset investments during the reporting period[26]. Other Financial Metrics - The company reported non-recurring gains and losses totaling CNY 1,280,419.99 for the reporting period[10]. - The company has not undergone an audit for the first quarter report, indicating that the figures are unaudited[63].

Financial Performance - Net profit attributable to shareholders rose by 20.79% to CNY 88,712,030.55 for the reporting period[9] - Operating revenue for the period reached CNY 707,365,737.37, reflecting a growth of 17.82% year-on-year[9] - Basic earnings per share increased by 15.38% to CNY 0.150[9] - The net profit attributable to shareholders for the year-to-date period was CNY 244,957,023.52, a significant increase of 70.40%[9] - The net profit excluding non-recurring gains and losses for the year-to-date period was CNY 238,162,072.59, up by 67.54%[9] - Net profit rose by 65.55% to ¥264,426,179.70, due to improved production management and higher prices for pork products[19] - The company reported a net profit of CNY 264,426,179.70 for the year-to-date period, which is a 65.5% increase from CNY 159,729,632.91 in the same period last year[54] - Net profit for Q3 2020 was CNY 86,158,070.35, representing a 25.5% increase from CNY 68,678,240.73 in Q3 2019[47] - The net profit for the third quarter was CNY 7,510,025.66, up 227.5% from CNY 2,298,515.59 in the previous year[50] Assets and Liabilities - Total assets increased by 37.58% to CNY 3,532,368,235.65 compared to the end of the previous year[9] - The company's total assets reached CNY 3,532,368,235.65, an increase from CNY 2,567,453,120.77 at the end of 2019, reflecting a growth of approximately 37.6%[36] - Total current liabilities increased to CNY 1,343,780,406.07 from CNY 563,481,378.39, marking an increase of about 138.0%[39] - The total liabilities of the company reached CNY 1,553,884,620.70, compared to CNY 774,762,644.43 at the end of 2019, which is an increase of about 100.5%[39] - The total liabilities were recorded at 774,762,644.43 CNY, with current liabilities totaling 563,481,378.39 CNY[70] Cash Flow - The net cash flow from operating activities surged by 384.49% to CNY 56,632,327.54[9] - Cash flow from operating activities increased by 1409.65% to ¥265,932,311.95, reflecting higher cash receipts from sales[19] - Operating cash flow for Q3 2020 was CNY 265,932,311.95, a significant improvement from a negative cash flow of CNY 20,305,581.23 in Q3 2019[62] - The company reported a net cash inflow from financing activities of CNY 71,151,053.05 in Q3 2020, compared to a net outflow of CNY 43,675,091.23 in Q3 2019[62] Shareholder Information - The total number of shareholders at the end of the reporting period was 39,488[13] - The largest shareholder, Guangdong Guanghong Asset Management Co., Ltd., holds 51.50% of the shares[13] Inventory and Receivables - Inventory surged by 195.56% to ¥881,878,889.00, attributed to increased frozen pork reserve tasks[18] - Other receivables rose by 389.74% to ¥30,694,653.79, mainly from frozen pork reserve subsidies[18] - Prepayments increased by 943.95% to ¥76,285,834.18, primarily due to advance payments for frozen pork procurement[18] Research and Development - Research and development expenses increased significantly, indicating a focus on innovation and new product development[18] - Research and development expenses for the year-to-date period were CNY 5,346,606.10, indicating ongoing investment in innovation[54] Financial Management - The company reported no overdue commitments from major stakeholders during the reporting period[25] - There were no significant financial investments or derivative investments reported during the period[27][28] - The company has not engaged in any external guarantees or entrusted financial management during the reporting period[30][29] Changes in Standards - The company executed new revenue and leasing standards starting January 1, 2020, which did not significantly impact the operating results or financial statements[66] - The company adopted new revenue and lease standards starting in 2020, but this was not applicable for the current report[75]