证券代码：000639 证券简称：西王食品 公告编号：2023-033 西王食品股份有限公司 第十四届董事会第三次会议决议公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述 或重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、董事会会议召开情况 1、董事会会议通知于2023年9月18日分别以专人、电子邮件、传 真等方式向全体董事、监事和高级管理人员进行了文件送达通知。 2、董事会会议于2023年9月28日在公司二楼会议室以现场结合通 讯表决方式召开。 3、应出席会议董事8名，实到董事8名。 4、会议由董事长王辉先生主持，公司高管人员、监事会成员全 部列席了会议。 5、本次董事会会议的召开符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的规定。 二、董事会会议审议情况 （一）审议通过了《关于山东证监局对公司采取责令改正措施的 整改报告》 表决结果：同意票 8 票，反对票 0 票，弃权票 0 票。 1 特此公告。 西王食品股份有限公司董事会 2023 年 9 月 28 日 2 ...

证券代码：000639 证券简称：西王食品 公告编号：2023-034 西王食品股份有限公司 第十四届监事会第三次会议决议公告 本公司监事会及全体监事保证本公告内容不存在虚假记载、误导性陈述 或重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 1、监事会会议通知于2023年9月18日分别以专人、电子邮件、传 真等方式向全体监事进行了文件送达通知。 一、监事会会议召开情况 5、本次监事会会议的召开符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的规定。 二、监事会会议审议情况 （一）审议通过了《关于山东证监局对公司采取责令改正措施的 整改报告》 《关于山东证监局对公司采取责令改正措施的整改报告》符 合相关法律、法规及规范性文件的要求，整改措施符合公司实际 情况，监事会将督促公司认真、持续地落实整改，不断提高公司 1 2、监事会会议于2023年9月28日在山东省邹平市西王工业园办公 楼二楼会议室召开。 3、应出席会议监事3名，实际到会3名。 4、会议由监事会主席张维辉先生主持。 规范运作水平，切实维护公司及广大投资者的利益。 表决结果：3 票同意，0 票反对，0 票弃权。 特此公告。 ...

Financial Performance - The company's operating revenue for the first half of 2023 was ¥2,732,813,255.41, a decrease of 6.40% compared to ¥2,919,795,929.16 in the same period last year[31]. - The net profit attributable to shareholders of the listed company was a loss of ¥51,260,978.36, representing a decline of 247.85% from a loss of ¥14,736,638.25 in the previous year[31]. - The basic earnings per share were -¥0.05, a decline of 400.00% compared to -¥0.01 in the same period last year[31]. - The weighted average return on net assets was -1.54%, a decrease of 1.15% from -0.39% in the previous year[31]. - The total comprehensive income for the first half of 2023 was CNY 16,568,514.93, significantly lower than CNY 115,974,866.44 in the previous year[174]. - The total operating costs for the first half of 2023 were CNY 2,806,065,861.77, down from CNY 2,935,084,312.09 in the previous year, reflecting a reduction of 4.4%[172]. - The company reported a significant increase in financial expenses by 65.65% to CNY 54,280,290.46, mainly due to rising syndicate loan interest rates and exchange rate fluctuations[87]. Cash Flow and Assets - The net cash flow from operating activities increased by 68.69% to ¥59,239,652.95, compared to ¥35,116,585.77 in the same period last year[31]. - The total assets at the end of the reporting period were ¥7,031,824,398.40, a decrease of 0.62% from ¥7,075,773,312.20 at the end of the previous year[31]. - The company's cash and cash equivalents increased to CNY 1,535,946,594.61, representing 21.84% of total assets[92]. - The company's current assets totaled CNY 2,949,471,361.46, down from CNY 3,082,420,194.73 at the start of the year, indicating a decrease of approximately 4.3%[165]. - The total liabilities decreased to CNY 3,097,722,063.10 from CNY 3,158,239,491.84, representing a decline of approximately 1.9%[167]. Market and Product Strategy - The company plans to enhance product quality and customer service while increasing market development efforts to maintain competitive advantages[6]. - The company is actively collaborating with high-quality rapeseed production areas to enhance domestic oil supply, aligning with national strategies to ensure food security[45]. - The company has identified a significant growth opportunity in the sports nutrition sector, particularly as domestic fitness awareness increases[47]. - The company launched several new products, including AE multi-sunflower seed oil and zero trans fat edible oil series, enhancing its product portfolio and promoting high-end products[54]. - The company aims to continuously increase R&D investment to promote technological and product upgrades, enhancing core competitiveness[108]. Supply Chain and Operational Efficiency - The company will continue to monitor raw material market trends and optimize supply chain management to mitigate risks from price fluctuations[8]. - The company has established a complete industrial chain from raw material base to end products, enhancing operational efficiency and market reach[68]. - The company has successfully implemented a unique preservation process for corn germ oil, improving yield by an average of 1.5 percentage points, contributing to significant economic benefits[74]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product portfolio[191]. Shareholder and Governance Information - The company does not plan to distribute cash dividends or issue bonus shares for this reporting period[13]. - The company has not disclosed any overdue commitments or unfulfilled promises as of the reporting period[124]. - The total number of ordinary shareholders at the end of the reporting period is 25,362[150]. - The largest shareholder, Xiwang Group Co., Ltd., holds 29.51% of the shares, totaling 318,515,381 shares[150]. - The company has committed to avoiding any substantial competition with its controlled enterprises and will prioritize transferring or temporarily managing any competing business[124]. Market Outlook - The domestic retail market size for edible oil is approximately CNY 300 billion, indicating a broad market outlook driven by increasing consumer demand for health-oriented products[39]. - The global sports nutrition market is projected to reach USD 64.8 billion by 2025, with a compound annual growth rate (CAGR) of 8.9% from 2023 to 2027[46]. - The government initiatives, such as the "Healthy China 2030" plan, are expected to drive the domestic sports nutrition market growth, with a potential increase of 24% over the next five years[49]. - The future outlook remains positive, with projected revenue growth driven by increased consumer demand and market penetration strategies[195].

西王食品股份有限公司 对西王集团财务有限公司的 法定代表人：裴建光 注册资本：20亿元人民币 注册地址：山东省济南市历下区银丰财富广场B座3楼及19楼 经营范围：（一）吸收成员单位存款；（二）办理成员单位贷款；（三）办 理成员单位票据贴现；（四）办理成员单位资金结算与收付；（五）提供成员单 位委托贷款、债券承销、非融资性保函、财务顾问、信用鉴证及咨询代理业务； （六）从事同业拆借；（七）办理成员单位票据承兑；（八）从事固定收益类有 价证券投资。在符合银保监会规定的条件后，财务公司将向其及其派出机构申请 经营下列本外币业务：（一）办理成员单位产品买方信贷和消费信贷；（二）从 事套期保值类衍生产品交易；（三）银保监会批准的其他业务。 二、财务公司内部控制的基本情况 持续风险评估报告 根据《深圳证券交易所上市公司自律监管指引第7号——交易与关联交易》 的要求，西王食品股份有限公司（以下简称"本公司"）通过查验是否具有有效 的《金融许可证》、《企业法人营业执照》；取得并审阅包括资产负债表、利润 表、现金流量表等在内的2023年上半年定期财务报告，评估本公司之关联方—— 西王集团财务有限公司（以下简称"财务公司"）的经 ...

3、应出席会议董事8名，实到董事8名。 证券代码：000639 证券简称：西王食品 公告编号：2023-030 西王食品股份有限公司 第十四届董事会第二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在虚假记载、误导性陈述 或重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、董事会会议召开情况 1、董事会会议通知于2023年8月14日分别以专人、电子邮件、传 真等方式向全体董事、监事和高级管理人员进行了文件送达通知。 2、董事会会议于2023年8月24日在公司二楼会议室以现场结合通 讯表决方式召开。 《公司对西王集团财务有限公司的持续风险评估报告》同日刊登 在巨潮资讯网www.cninfo.com.cn上。 表决结果：同意票 8 票，反对票 0 票，弃权票 0 票。 特此公告。 西王食品股份有限公司董事会 4、会议由董事长王辉先生主持，公司高管人员、监事会成员全 部列席了会议。 5、本次董事会会议的召开符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的规定。 二、董事会会议审议情况 （一）审议通过了《公司 2023 年半年度报告及摘要》 2023 年半年度报告及摘要详见 ...

法定代表人: 王辉 主管会计工作负责人: 王海芝 会计机构负责人: 王海芝 西王食品股份有限公司2023年半年度非经营性资金占用及其他关联资金往来情况汇总表 | 编制单位：西王食品股份有限公司 | | | | | | | | | | 单位：万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公 | 上市公司核算 | 2023年期初 | 2023年1-6月占用累 | 2023年1-6月占用 | 2023年1-6月 | 2023年6月末占用 | 占用形成原因 | 占用性质 | | | | 司的关联关系 | 的会计科目 | 占用资金余 | 计发生金额（不含利 | 资金的利息(如 | 偿还累计发生 | 资金余额 | | | | | | | | 额 | 息） | 有) | 金额 | | | | | 现大股东及其附属企业 | —— | —— | —— | —— | —— | —— | —— | —— | —— | —— | | | —— | —— | —— | —— | ...

独立董事关于控股股东及其他关联方占用公司资金、 公司对外担保情况的专项说明和独立意见 作为西王食品股份有限公司（以下简称"公司"）的独立董事， 我们根据中国证券监督管理委员会《上市公司独立董事规则》、《深圳 证券交易所上市公司自律监管指引第 1 号—主板上市公司规范运作》、 （二）报告期内，公司不存在对合并报表范围以外的法人或自 然人进行担保的情况，不存在违反规定对外担保事项，也不存在以 前期间发生但延续到报告期的公司违规对外担保情况。 独立董事： 何东平 董华 张光水 2023 年 8 月 24 日 《上市公司监管指引第 8 号—上市公司资金往来、对外担保的监管要 求》、《公司章程》等的相关规定，本着对公司、全体股东负责的态度， 对 2023 年半年度控股股东及其他关联方占用公司资金和对外担保情 况进行了认真的检查和落实，发表如下专项说明和独立意见： （一）报告期内，公司不存在控股股东及其他关联方占用公司 资金的情形，也不存在以前期间发生并延续到报告期的控股股东及 其他关联方占用公司资金的情况。 ...

证券代码：000639 证券简称：西王食品 公告编号：2023-029 西王食品股份有限公司 关于董事辞职的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 西王食品股份有限公司（以下简称"公司"）董事会于 2023 年 8 月 18 日收 到公司董事周志峰先生提交的辞职报告。由于个人原因，周志峰先生提请辞去公 司第十四届董事会董事职务，辞职后，不再担任公司其他任何职务。 根据《中华人民共和国公司法》、《公司章程》等规定，周志峰先生的辞职未 导致公司董事会成员低于法定的最低人数要求，不会影响公司董事会的正常运作， 辞职报告自送达董事会时生效。公司将根据《公司法》、《公司章程》的规定，尽 快增补新的董事，以达到《公司章程》规定的董事会组成人数。 截至本公告披露日，周志峰先生未持有公司股份，不存在应当履行而未履行 的承诺事项。公司及董事会对周志峰先生在任职期间为公司所做的贡献表示衷心 感谢！ 特此公告。 西王食品股份有限公司董事会 2023 年 8 月 21 日 ...

Financial Performance - Revenue for 2022 decreased by 4.47% to 6,070,815,722.31 yuan compared to 2021[29] - Net profit attributable to shareholders in 2022 was -618,688,570.23 yuan, a decrease of 437.06% from 2021[29] - Operating cash flow for 2022 was 58,777,725.82 yuan, a significant improvement of 133.31% from 2021[29] - Basic earnings per share in 2022 were -0.5700 yuan, a decrease of 435.29% from 2021[29] - Total assets at the end of 2022 were 7,075,773,312.20 yuan, a decrease of 8.27% from 2021[29] - Net profit attributable to shareholders in Q4 2022 was -554,661,884.40 yuan, the largest quarterly loss[34] - Operating cash flow in Q2 2022 was 52,331,773.86 yuan, the highest quarterly cash flow[34] - The company's weighted average return on equity in 2022 was -17.42%, a decrease of 22.36 percentage points from 2021[29] - The company's net profit after deducting non-recurring gains and losses in 2022 was -616,840,632.60 yuan, a decrease of 488.00% from 2021[29] - The company's total equity attributable to shareholders at the end of 2022 was 3,323,989,692.72 yuan, a decrease of 12.03% from 2021[29] - Non-current asset disposal losses amounted to -107,636.33 in 2022, compared to 21,597.70 in 2021 and -6,466,945.83 in 2020[36] - Government subsidies recognized in current profits were 1,293,621.80 in 2022, up from 537,508.10 in 2021 and 6,708,638.90 in 2020[36] - Other non-operating income and expenses totaled 2,744,378.68 in 2022, compared to 1,888,543.00 in 2021 and -3,066,630.46 in 2020[37] - The company's total revenue in 2022 was 6,070,815,722.31 yuan, a decrease of 4.47% compared to 2021[100] - Revenue from vegetable oil products decreased by 9.56% to 2,853,068,561.28 yuan in 2022, accounting for 47.00% of total revenue[100] - Revenue from nutritional supplements increased by 2.64% to 2,540,498,937.11 yuan in 2022, accounting for 41.85% of total revenue[100] - Revenue from the Chinese market decreased by 7.73% to 3,967,090,568.43 yuan in 2022, accounting for 65.35% of total revenue[100] - Revenue from overseas markets increased by 2.37% to 2,103,725,153.88 yuan in 2022, accounting for 34.65% of total revenue[100] - The gross profit margin for nutritional supplements decreased by 11.54% to 25.84% in 2022[102] - The gross profit margin for the Chinese market decreased by 10.78% to 9.01% in 2022[102] - The gross profit margin for the overseas market decreased by 1.42% to 27.26% in 2022[102] - The gross profit margin for direct sales decreased by 5.34% to 26.55% in 2022[102] - Vegetable oil sales volume decreased by 25.65% to 192,937 units in 2022 compared to 259,499 units in 2021, primarily due to high costs and price inversion of first-grade finished oil, leading the company to adjust its business pace and control product shipments[103] - Nutritional supplement sales volume increased by 5.37% to 31,241,104 units in 2022 from 29,650,138 units in 2021[103] - The company's raw material costs for food processing increased by 0.52% to 52.23% of total operating costs in 2022, amounting to 2,684,745,439.17 yuan[105] - The company's financial expenses surged by 64.58% to 76,735,574.97 yuan in 2022, mainly due to increased interest rates on syndicated loans and exchange losses influenced by U.S. interest rate hikes[112] - Sales expenses decreased by 9.79% to 702,056,149.00 yuan in 2022 compared to 778,242,887.16 yuan in 2021[112] - Research and development expenses decreased by 9.65% to 95,196,511.99 yuan in 2022 from 105,359,652.03 yuan in 2021[113] - The company's procurement costs for plant-based edible oils increased by 2.00% to 40.98% of total operating costs in 2022, amounting to 2,106,456,727.18 yuan[107] - R&D investment in 2022 decreased by 9.65% to 95,196,511.99 yuan compared to 2021, accounting for 1.57% of revenue[115] - The number of R&D personnel decreased by 4.90% to 136 in 2022, with a reduction in the proportion of R&D personnel from 7.56% to 7.35%[114] - The proportion of R&D personnel with a master's degree decreased significantly by 65.22% in 2022[115] - R&D capitalisation increased by 100% to 8,505,980.28 yuan in 2022, accounting for 8.20% of total R&D investment[115] - Net cash flow from operating activities increased by 133.31% to 58,777,725.82 yuan in 2022[117] - Net cash flow from investing activities decreased by 88.65% to 49,004,190.49 yuan in 2022[117] - Net cash flow from financing activities increased by 67.27% to -83,264,682.67 yuan in 2022[118] - The net increase in cash and cash equivalents was 30,659,117.38 yuan in 2022, a significant increase of 2,148.60% compared to 2021[118] - Inventory increased by 1.45% to 1,000,489,061.63 yuan in 2022, accounting for 14.14% of total assets[121] - Long-term loans increased by 2.57% to 758,825,931.83 yuan in 2022, accounting for 10.72% of total assets[121] - Financial assets at the end of the period totaled 127,372,914.26, with a decrease of 626,298.57 in fair value changes and an increase of 6,729,882.71 in cumulative fair value changes included in equity[123] - Restricted assets at the end of the period amounted to 4,269,634,150.57, including 1,217,592,521.22 in monetary funds and 2,553,389,722.41 in intangible assets[124] - The 600,000-ton corn oil expansion project invested 7,045,756.90, with actual investment of 182,563,837.51, but did not meet the expected progress due to economic environment impacts[126] - Shandong Xiwang Food Co., Ltd. reported a revenue of 2,955,534,506.57, a decrease of 9%, and a net profit of -76,948,637.50, a decrease of 348% due to rising raw material costs[132] - Zouping Xiwang Corn Oil Co., Ltd. reported a revenue of 2,414,629,945.13, an increase of 4%, and a net profit of -30,423,260.62, a decrease of 280% due to rising raw material costs[132] - Xiwang Qingdao reported a revenue of 2,306,571,850.89, a decrease of 2%, and a net profit of -624,406,320.12, a decrease of 651% due to impairment of goodwill and intangible assets[132] - The company's revenue for the fiscal year 2022 reached 1.764 billion yuan[160] Market and Industry Trends - The domestic edible oil retail market size is approximately 300 billion yuan, with a promising outlook for high-end oil varieties[42] - Corn oil contains 80%-85% unsaturated fatty acids and 50% linoleic acid, with a human absorption rate of over 97%[43] - 22% of consumers prioritize brand reputation when purchasing edible oil, and 68% are willing to pay higher prices for nutritious and healthy food[44] - The global sports nutrition market is projected to reach $64.8 billion by 2025, with a CAGR of 8.9% from 2023 to 2027[48] - China's sports nutrition market is expected to reach $859 million by 2023, driven by consumption upgrades and government policies[50] - By 2025, China aims to increase the proportion of regular exercisers to 38.5% of the total population, with a total sports industry scale of 5 trillion yuan[50] - The demand for weight management products is expected to grow at an annual rate of 10%-20% due to increasing health awareness and the pursuit of scientific weight loss methods[53] Product and Business Development - The company's packaged oil sales reached nearly 180,000 tons, with a focus on product upgrades and new marketing strategies, including the launch of a TikTok live streaming room[62] - The company achieved significant cost savings of over 7 million yuan through energy conservation and consumption reduction efforts[63] - The company's corn oil business continues to grow, with increasing consumer recognition of its health benefits, such as improving cardiovascular health and reducing cholesterol[55] - The company's sports nutrition business is expanding, with products like protein bars, RTDs, and gummies gaining popularity among consumers[55] - The company's Iovate subsidiary is a global leader in sports nutrition and weight management, with products sold in over 140 countries and regions[59] - The company's daily traffic on new media platforms like TikTok and WeChat Video reached over 10,000, with monthly traffic exceeding 500,000[62] - The company implemented over 90 technological innovations and cost-saving measures, including reducing label adhesive usage by more than half[63] - The company's procurement strategy was optimized, with direct purchases from platforms like JD.com and Tmall, reducing procurement costs[61] - The company's sports nutrition brand, MuscleTech, has been the top-selling sports nutrition product in China for seven consecutive years[59] - The company achieved a 100% pass rate in 204 random inspections of its edible oil products by national and provincial market supervision departments[64] - The company applied for 6 patents (1 invention, 5 utility models) and was granted 4 patents in 2022[64] - The company launched 96 SKU adjustments and new products for MuscleTech, including 59 SKU packaging changes and new products like 35g Platinum Crisp Protein Bars and 100g/400g Creatine products[70] - The company introduced 5 new fitness accessory products (5 SKUs) and 4 new weight management products (5 SKUs), primarily in different specifications and packaging forms of L-Carnitine liquid[70] - The company launched 7 new basic nutrition products (8 SKUs), including electrolyte powder, collagen calcium tablets, and plant sterol tablets[70] - The company's edible oil products, "Xiwang Corn Germ Oil Fresh Embryo" and "Xiwang Small Pressed Selected Rapeseed Oil," won gold medals at the 2022 Monde Selection[65][78] - The company's MuscleTech brand has been the top-selling domestic sports nutrition product for seven consecutive years[79] - The company's Iovate subsidiary has a global sales network, with products sold in over 140 countries and regions[74] - The company's high-end kitchen division set a new historical record for order volume during the 2022 Mid-Autumn Festival ordering meeting[78] - The company's MuscleTech brand collaborated with the Gundam IP to launch co-branded products, including 5lbs protein powder and 7lbs muscle gain powder[71] - Xiwang Corn Germ Oil's Double 11 sales increased by 27% year-over-year, achieving significant brand exposure with over 10 billion impressions[80] - Xiwang's daily traffic on new media platforms (Douyin, Xiaohongshu, WeChat Video) reached 10,000+, with monthly traffic exceeding 500,000[81] - MuscleTech's global brand exposure reached 890 million impressions in 2022, with a 151% increase in Platinum series exposure[82] - MuscleTech's Douyin campaigns achieved 375 million impressions, driving sales of 36 million RMB through influencer collaborations[83] - MuscleTech launched 96 SKUs, including 59 BTO product packaging updates and new products like the 35g Platinum Crisp Protein Bar[84] - Xiwang's corn oil production benefits from a complete supply chain, with Xiwang Sugar processing 3 million tons of corn annually[85] - Xiwang's enzyme degumming technology increased corn oil yield by 1.5%, generating over 10 million RMB in additional annual revenue[87] - Xiwang's corn oil brand recognition reached 60%, with a market share exceeding 30% in the niche corn oil category[88] - The company's corn germ oil production capacity is 500,000 tons, refined corn oil capacity is 300,000 tons, and small-packaged corn oil capacity is 300,000 tons, making it one of the largest corn oil processing enterprises in China[91] - The company aims to become a leader in China's healthy food industry, focusing on high-end edible oils and expanding into the health food sector through acquisitions like Iovate[133] - In 2023, the company will focus on cost reduction, efficiency improvement, and optimizing product structure to ensure stable profitability and business growth[135] - The company is optimizing its product structure by launching high-oleic rapeseed oil and multi-oleic black peanut oil, while upgrading the design of existing peanut oil and soybean oil cold-pressed products[136] - The company is strengthening its supply chain management by tracking product supply chains, controlling international transportation costs, and improving replenishment and customer service processes[138] - The company has completed the development of new products, including MuscleTech Pro, high-performance series protein powder, and muscle-building powder, as well as six-star portable L-carnitine, 100,000 L-carnitine, dietary fiber, and probiotics[138] - The company is focusing on international market strategies, building brand differentiation, and targeting strategic growth markets to maintain high-growth sectors[138] - The company is enhancing its channel structure by adding high-quality customers and outlets, deepening incremental opportunities, and improving direct sales channel capabilities[137] Risk Management - The company faces risks from fluctuations in raw material prices due to global economic fragility and geopolitical tensions, particularly affecting oilseed crops[5] - The company is exposed to exchange rate risks due to the ongoing US-China trade friction and complex international political and economic environment[8] - The company is addressing risks related to raw material price fluctuations, particularly due to global supply shortages and geopolitical tensions affecting key oilseed exports[139] - The company has established a strict ISO9001:2008 quality management system to ensure food safety across all stages from procurement to sales[140] - The company is managing exchange rate risks by incorporating flexibility in sales pricing and utilizing financial tools to control currency fluctuations[141] Corporate Governance - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserve into share capital[9] - The company's registered address was changed from "Hunan Province" to "Shandong Province" in 2011 and further updated in 2019[24] - The company held 3 shareholder meetings in 2022, all conducted in a hybrid format to ensure the rights of minority investors[146] - The company held 5 board meetings and 5 supervisory board meetings in 2022, with all members fulfilling their duties diligently and independently[147] - The company maintains independence in assets, personnel, finance, organization, and business operations, ensuring no interference from controlling shareholders[151] - The company has an independent and complete asset system, with clear ownership and control over its assets, including procurement, logistics, and information systems[152] - The company has an independent personnel management system, with no overlap in salary payments or benefits between the company and its controlling shareholders[153] - The company has established an independent financial system, including a dedicated finance department, separate bank accounts, and independent tax filing[154] - The company operates independently in its business activities, with no interference from controlling shareholders, ensuring full autonomy in decision-making and risk management[155] - The company has an independent organizational structure, with no overlap or interference from controlling shareholders in its functional departments[156] - The 2022 annual general meeting had a 54.81% investor participation rate, held on May 20, 2022[157] - The 2022 first extraordinary general meeting had a 52.28% investor participation rate, held on February 14, 2022[157] - The 2022 second extraordinary general meeting had a 52.13% investor participation rate, held on September 13, 2022[157] - The company's board of directors and senior management, including the chairman and CEO, hold no shares in the company, with no changes in shareholding during the reporting period[159] - The company elected Zhou Zhifeng as a new director on September 13, 2022, replacing Wang Hongyu who resigned due to personal reasons[160][162] - Liu Lin was elected as the new employee representative supervisor on April 28, 2022, replacing Zhang Ting who resigned due to work adjustment[161][162] - Wang Haizhi was elected as a new director on May 20, 2022[162] - The company's chairman, Wang Hui, has a strong educational background with a postgraduate degree from Shandong University and further studies at Tsinghua University[162] - Sun Xinhu, the vice chairman, has extensive experience in the food industry and has been with the company since 2003[163] - Zhou Yong, the general manager, holds a Master's degree in Business Administration from Capital University of Economics and Business[164] - Du

Financial Performance - The company's revenue for Q1 2023 was CNY 1,420,517,909.35, representing a 6.33% increase compared to CNY 1,336,013,497.61 in the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 42,239,925.91, a decline of 105.94% from a loss of CNY 20,510,455.39 in the previous year[5] - The net profit for Q1 2023 was a loss of CNY 48,559,269, compared to a loss of CNY 23,410,659 in Q1 2022, indicating an increase in losses of approximately 106%[19] - The operating profit for Q1 2023 was a loss of CNY 61,697,615, worsening from a loss of CNY 29,044,040 in the previous year, representing a decline of about 112%[19] - The total comprehensive loss for Q1 2023 was CNY 76,786,375, compared to a loss of CNY 34,479,959 in Q1 2022, indicating an increase in comprehensive losses of about 122%[20] - The basic and diluted earnings per share for Q1 2023 were both CNY -0.04, compared to CNY -0.02 in the same period last year[20] Cash Flow and Investments - The net cash flow from operating activities improved significantly to CNY 21,189,418.56, compared to a negative cash flow of CNY 17,215,188.09 in the same period last year, marking a 223.09% increase[5] - The cash flow from operating activities for Q1 2023 was CNY 21,189,419, a significant improvement from a negative cash flow of CNY 17,215,188 in the same quarter last year[23] - The cash outflow from investing activities was CNY 152,581,463, compared to CNY 99,820,814 in the previous year, indicating a rise in investment expenditures[23] - The net cash flow from financing activities was -17,232,936.27, compared to 60,040,150.36 in the previous period[24] - The impact of exchange rate changes on cash and cash equivalents was -183,869.59, a decrease from -41,999.70[24] - The net increase in cash and cash equivalents was -148,433,928.83, compared to -56,371,010.99 in the previous period[24] - The beginning balance of cash and cash equivalents was 314,307,633.63, while the ending balance was 165,873,704.80[24] - The company reported an ending cash and cash equivalents balance decrease of 47.3% compared to the previous period[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,027,462,320.73, a decrease of 0.68% from CNY 7,075,773,312.20 at the end of the previous year[5] - The company's cash and cash equivalents stood at RMB 1,542,345,031.58, slightly up from RMB 1,531,900,154.85 in the previous quarter[13] - Total liabilities increased to RMB 3,186,714,875.87 from RMB 3,158,239,491.84, an increase of 0.9%[15] - The equity attributable to shareholders decreased by 1.95% to CNY 3,259,168,081.69 from CNY 3,323,989,692.72 at the end of the previous year[5] - The company's equity attributable to shareholders decreased to RMB 3,259,168,081.69 from RMB 3,323,989,692.72, a decline of 1.9%[15] - Short-term borrowings rose to RMB 1,162,046,837.22 from RMB 1,138,674,837.22, an increase of 2.0%[14] - Accounts payable increased to RMB 432,125,863.20 from RMB 362,378,373.52, reflecting a growth of 19.2%[14] - Deferred income tax assets increased to RMB 166,781,040.32 from RMB 153,894,768.94, a rise of 8.4%[14] Expenses - Total operating costs amounted to RMB 1,481,716,119.19, up 8.5% from RMB 1,365,159,066.68 year-over-year[17] - Research and development expenses increased by 58% to CNY 15,563,577.44, driven by new product development efforts[7] - Research and development expenses increased to CNY 15,563,577, up from CNY 9,852,199, marking a rise of approximately 58% year-over-year[21] - The company reported a significant increase in financial expenses, with interest expenses rising to CNY 32,455,621 from CNY 19,498,974, an increase of approximately 66%[21] - The company’s financial expenses surged by 176% to CNY 24,139,222.13, attributed to increased syndicate loan interest rates[7] - The total operating expenses for Q1 2023 were CNY 191,595,273 for sales expenses and CNY 57,613,296 for management expenses, reflecting a total increase in operating costs[21] Government Support - The company received government subsidies amounting to CNY 244,890.57, contributing to a 261% increase in other income to CNY 244,890.57[7] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 25,402[9] Audit Status - The first quarter report is unaudited[25]