证券简称：承德露露 证券代码：000848 公告编号：2020-033 关于参加河北辖区上市公司 2020 年度投资者网上集体 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 河北承德露露股份有限公司（以下简称"公司"）已于 2020 年 3 月 28 日发布 了 2019 年年度报告。为便于广大投资者更深入全面地了解公司情况、发展战略、 经营状况、可持续发展等投资者所关心的问题，公司定于 2020 年 6 月 12 日（星期 五）15:50-17:00 参加中国证监会河北监管局举办的"河北辖区上市公司 2020 年 度投资者网上集体接待日活动"，现将有关事项公告如下： 本次年度集体接待日将在深圳市全景网络有限公司提供的网上平台采取网络 远程的方式举行，投资者可以登录"河北辖区上市公司投资者关系互动平台" （http：//rs.p5w.net）参与交流。 出席本次年度网上集体接待日的人员有：董事长、总经理、董事会秘书梁启朝 先生，副总经理、财务负责人丁兴贤先生及公司证券业务人员。 欢迎广大投资者积极参与。 特此公告。 河北承德露露股份有限公司董事会 2020 ...

Financial Performance - The company's operating revenue for Q1 2020 was ¥848,943,283.52, a decrease of 8.80% compared to ¥930,892,960.54 in the same period last year[9]. - Net profit attributable to shareholders was ¥182,206,531.98, down 17.97% from ¥222,109,281.77 year-on-year[9]. - Basic earnings per share decreased to ¥0.19, down 17.39% from ¥0.23 in the same period last year[9]. - Operating income decreased by 38.54% to ¥346,198,281.65, attributed to a decrease in advance payments from distributors[20]. - Net profit for the current period is ¥184,370,163.31, a decline of 17.3% compared to ¥222,820,556.97 in the previous period[66]. - Total operating revenue for the current period is ¥848,943,283.52, a decrease of 8.8% from ¥930,892,960.54 in the previous period[59]. - The total comprehensive income amounted to CNY 145,235,649.72, compared to CNY 163,212,684.90 in the previous period, indicating a decrease of approximately 11%[72]. Cash Flow - The net cash flow from operating activities was -¥166,247,510.09, representing a decline of 56.13% compared to -¥106,480,255.10 in the previous year[9]. - Cash inflows from operating activities totaled CNY 351,922,288.84, down from CNY 568,367,249.82, representing a decline of about 38.2%[73]. - Cash outflows from operating activities were CNY 518,169,798.93, compared to CNY 674,847,504.92 in the previous period, reflecting a decrease of approximately 23.2%[76]. - The cash inflow from sales of goods and services was CNY 346,198,281.65, a decrease from CNY 563,293,682.42, indicating a decline of approximately 38.6%[73]. - The company's cash and cash equivalents net increase was -¥166,441,239.09, reflecting a decrease in operating cash flow[20]. - The ending cash and cash equivalents balance was CNY 2,037,181,039.52, compared to CNY 1,820,097,198.35 at the end of the previous period, showing an increase of about 12%[79]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,686,060,319.31, a decrease of 13.51% from ¥3,105,501,655.25 at the end of the previous year[9]. - Total liabilities decreased by 56.19% to ¥470,691,514.90, primarily due to a significant reduction in current liabilities[18]. - The company's total liabilities decreased from CNY 1,074,503,014.15 to CNY 470,691,514.90, a reduction of about 56.2%[47]. - The total equity attributable to shareholders rose from CNY 1,995,586,297.42 to CNY 2,177,792,829.40, an increase of approximately 9.1%[49]. - The company's current assets totaled CNY 2,126,934,073.57 as of March 31, 2020, down from CNY 2,530,646,346.30 at the end of 2019, indicating a decrease of about 16%[41]. Shareholder Information - The top shareholder, Wanxiang Agricultural Group Co., Ltd., holds 40.68% of the shares, with a total of 398,119,878 shares[12]. - The total number of ordinary shareholders at the end of the reporting period was 52,758[12]. Legal Matters - The company is involved in ongoing litigation regarding related party transactions, seeking compensation of ¥108,320,300 for economic losses[21]. - The company is currently involved in multiple legal disputes, including a case accepted by the Intermediate People's Court of Chengde on April 2, 2020, which may impact current and future profits[27]. - The company’s production operations remain normal despite ongoing legal disputes[24]. Operational Insights - Inventory decreased by 75.22% to ¥77,663,365.87 due to a reduction in raw materials and finished goods[18]. - Other current assets decreased by 81.55% to ¥207,972.64 due to a reduction in uncredited input tax[18]. - The company reported non-recurring gains and losses totaling ¥190,638.30 after tax impacts of ¥63,546.10[9]. - The company has maintained communication with investors regarding operational and litigation matters[36]. Research and Development - Research and development expenses for the current period are ¥3,706,464.81, slightly decreased from ¥4,644,207.04, indicating a focus on cost management in R&D[62]. - The company has not disclosed any new product developments or technological advancements in the recent reports[28][33]. Future Outlook - The company has not provided specific performance guidance or future outlook in the available documents[28][39]. - The company has not reported any significant market expansion or acquisition activities during the reporting period[28][39]. - The company has not reported any significant changes in user data or customer metrics in the recent disclosures[28][39].

Financial Performance - The company's operating revenue for 2019 was CNY 2,255,394,058.97, representing a 6.29% increase compared to CNY 2,121,966,609.34 in 2018[25]. - The net profit attributable to shareholders for 2019 was CNY 464,868,495.52, which is a 12.54% increase from CNY 413,057,313.39 in 2018[25]. - The total profit for the year was CNY 618.24 million, reflecting a growth of 12.57% compared to the previous year[36]. - The basic earnings per share for 2019 was CNY 0.47, up 11.90% from CNY 0.42 in 2018[25]. - The total assets at the end of 2019 were CNY 3,105,501,655.25, a 9.24% increase from CNY 2,842,852,497.72 at the end of 2018[25]. - The net assets attributable to shareholders at the end of 2019 were CNY 1,995,586,297.42, reflecting a 3.82% increase from CNY 1,922,142,893.10 at the end of 2018[25]. - The company achieved operating revenue of CNY 2,255.39 million in 2019, a year-on-year increase of 6.29%[36]. - Revenue from plant protein beverages accounted for 99.91% of total revenue, amounting to CNY 2,253,373,440.87, with a year-on-year growth of 8.57%[54]. - The gross profit margin for plant protein beverages was 52.64%, an increase of 1.24% compared to the previous year[54]. Production and Capacity - The company has a production capacity of over 500,000 tons annually, making it the largest producer of almond milk in China[36]. - The sales volume of LuLu almond milk increased by 4.79% to 223,560.66 tons in 2019, while production volume rose by 11.59% to 237,342.94 tons[55]. - The company's inventory of almond milk increased by 38.69% to 49,408.04 tons due to early stockpiling ahead of the 2020 Spring Festival[55]. Market Strategy and Expansion - The company plans to expand its marketing efforts targeting young urban professionals, focusing on the health benefits of wild almonds[46]. - The company has established a sales network covering 43 cities across Northeast, North China, Central Plains, and Northwest regions, with 6 sales districts and 209 small groups[45]. - The company aims to enhance its production capabilities through smart and flexible manufacturing, which will improve food safety and provide space for new product development[78]. - The company will continue to develop its e-commerce business to meet the purchasing needs of the emerging consumer base[78]. - The company has set a goal to increase its market share and core competitiveness by continuously developing new products and optimizing marketing strategies[78]. Research and Development - The company holds 42 patents, including 12 invention patents, showcasing its strong technological capabilities in the beverage industry[40]. - Research and development expenses increased by 20.52% to CNY 13,686,809.40, attributed to higher personnel costs[62]. - The total R&D expenditure for the reporting period was CNY 13.69 million, accounting for 0.61% of the company's operating revenue and 0.69% of net assets[63]. - The number of R&D personnel decreased by 19.40% from 134 in 2018 to 108 in 2019, with the proportion of R&D personnel dropping from 10.72% to 9.33%[63]. Legal and Compliance Issues - The company is actively pursuing litigation related to trademark infringement to resolve ongoing issues[79]. - The company received a civil judgment from the Shantou Jinping District People's Court on June 3, 2019, confirming the validity of the trademark licensing agreement with Shantou Gaoxin District Lulu South Co., Ltd.[111]. - The company has filed for a retrial to protect its core intellectual property rights, indicating potential future legal costs and impacts on brand influence and market competitiveness[111]. - The company is involved in another lawsuit regarding damages related to associated transactions, with a claim amounting to 135.04 million yuan[112]. - The company emphasizes the importance of protecting its legal rights and interests amid ongoing litigation, which may affect investor confidence[112]. Corporate Governance and Management - The total pre-tax remuneration for the board of directors and senior management amounted to CNY 396.94 million[200]. - The chairman and general manager, Liang Qichao, received a pre-tax remuneration of CNY 58.94 million[200]. - The company has implemented a performance-based annual salary system for its directors and senior management, which includes guaranteed income, position income, and incentive income[198]. - The company’s independent directors have no remuneration from related parties, ensuring independence in their oversight role[200]. - The management team has undergone changes, with the appointment of a new CFO to strengthen financial oversight[186]. Environmental and Social Responsibility - The company has established an emergency response plan for environmental incidents and has registered it with the local environmental protection bureau[146]. - The company's wastewater monitoring includes continuous automatic monitoring of COD and quarterly manual monitoring of ammonia nitrogen, BOD, SS, and pH[146]. - The wastewater treatment facility has a capacity of 1,000 m³/d, and the treated pollutants meet environmental assessment requirements[141]. - A focus on sustainability initiatives is being implemented, with a goal to reduce carbon emissions by 15% over the next three years[181]. Shareholder Information - The company has a total of 978,562,728 shares, with 99.98% being unrestricted shares[158]. - The controlling shareholder, Wanxiang San Nong Group Co., Ltd., holds 40.68% of the shares, totaling 398,119,878 shares[162]. - The second largest shareholder, Sunshine Property & Casualty Insurance Co., Ltd., holds 5.10% of the shares, totaling 49,906,677 shares[165]. - The company has a total of 53,241 common shareholders at the end of the reporting period[162].

Financial Performance - Operating revenue for the third quarter reached ¥515,355,120.05, representing a year-on-year increase of 4.29%[8] - Net profit attributable to shareholders was ¥100,554,338.27, up 3.40% year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥100,604,528.56, an increase of 3.67% compared to the previous year[8] - Basic earnings per share remained at ¥0.10, unchanged from the previous quarter[8] - The weighted average return on equity was 4.35%, a decrease of 0.18 percentage points compared to the same period last year[8] - Total operating revenue for the current period reached ¥515,355,120.05, an increase of 4.4% compared to ¥494,177,026.48 in the previous period[57] - Net profit for the current period was ¥100,128,826.14, representing a 3.9% increase from ¥96,622,878.29 in the previous period[60] - The company reported a total profit of ¥133,595,687.58, a slight increase from ¥129,724,398.77 in the previous period[60] - The company reported a total comprehensive income for the current period of ¥362,586,257.61, compared to ¥348,719,312.27 in the previous period, showing an increase of 4.9%[74] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,347,403,295.60, a decrease of 17.43% compared to the same period last year[8] - Total liabilities decreased by 52.65% to ¥419,669,297.60, primarily due to a reduction in current liabilities[18] - Current liabilities decreased from ¥836,597,166.13 to ¥369,986,797.60, a reduction of about 55.8%[45] - Total non-current assets decreased from ¥605,356,206.45 to ¥570,585,409.00, a decline of about 5.7%[42] - Total equity decreased from ¥1,956,572,831.59 to ¥1,927,733,998.00, a decline of approximately 1.5%[48] - Total assets decreased from ¥2,842,852,497.72 to ¥2,347,403,295.60, a decline of approximately 17.4%[48] - Total liabilities reached CNY 886,279,666.13, with current liabilities at CNY 836,597,166.13[102] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥110,169,346.17, down 21.23% year-on-year[8] - Cash received from operating activities decreased by 30.26% to ¥19,582,139.03, attributed to a decrease in government subsidies[22] - The net cash flow from investing activities was -¥3,516,042.54, a decrease of 57.06% compared to the previous year[22] - The cash inflow from operating activities was CNY 1,404,591,379.18, a decrease of 12.5% compared to CNY 1,604,860,604.81 in the previous period[81] - The net cash flow from operating activities was CNY 110,169,346.17, down 21.4% from CNY 139,861,345.39 in the prior period[84] - The cash outflow for purchasing goods and services was CNY 628,305,993.33, a decrease of 13.5% from CNY 726,588,649.20 in the previous period[81] Shareholder Information - The top shareholder, Wanxiang San Nong Group Co., Ltd., holds 40.68% of the shares, totaling 398,119,878 shares[11] - The company reported no significant changes in shareholder relationships or agreements among the top ten shareholders during the reporting period[14] - There were no repurchase agreements among the top ten shareholders during the reporting period[15] Research and Development - Research and development expenses increased by 41.53% to ¥11,701,257.60, indicating a higher investment in R&D[19] - Research and development expenses increased to ¥2,705,256.64, up 59.2% from ¥1,698,931.96 in the previous period[57] Legal Matters - The company is currently involved in a legal dispute regarding trademark licensing, with an appeal filed against a lower court's ruling[23] - The company is currently involved in multiple legal proceedings regarding patent and trademark infringements, which may impact future operations[28] Other Financial Metrics - Other income decreased by 70.88% to ¥1,785,000.00 due to a reduction in government subsidies received[19] - The company reported a significant increase in investment losses, with a 137.93% rise to -¥1,546,467.84 due to increased losses from investees[19] - The company experienced a decrease in investment income, reporting a loss of ¥480,039.15 compared to a loss of ¥321,940.23 in the previous period[60] - Tax expenses for the current period were ¥33,466,861.44, slightly higher than ¥33,101,520.48 in the previous period[60]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥1,256,927,203.16, representing a 6.55% increase compared to ¥1,179,616,895.98 in the same period last year[22]. - The net profit attributable to shareholders was ¥262,273,404.44, up 3.68% from ¥252,963,491.63 in the previous year[22]. - The basic earnings per share increased by 3.85% to ¥0.27 from ¥0.26[22]. - Operating profit reached 348.95 million RMB, an increase of 1.84% compared to the same period last year[30]. - Net profit attributable to the parent company was 262.27 million RMB, reflecting a growth of 3.68% year-on-year, primarily driven by beverage business[30]. - The company reported a total of 147.85 million CNY in related party transactions during the reporting period, with a breakdown of 74.93 million CNY for purchasing raw materials and 72.92 million CNY for selling products[85]. - The total comprehensive income for the period was 413,057,313.39 CNY, reflecting a significant change compared to the previous period[192]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥88,043,471.95, a decrease of 209.74% compared to -¥28,424,865.40 in the same period last year[22]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥1,449,304,875.83, which is 66.79% of total assets, up from 64.49% in the previous year[55]. - The company reported a significant reduction in cash paid to employees, which was 75,616,508.62 CNY in 2019 compared to 98,860,033.14 CNY in 2018, a decrease of approximately 23.5%[185]. - The cash flow from investment activities showed a net outflow of -46,104.68 CNY in 2019, compared to -2,664,246.00 CNY in 2018, indicating improved cash management in investments[185]. - The total cash and cash equivalents at the end of the first half of 2019 stood at 1,404,002,359.16 CNY, slightly up from 1,385,508,033.67 CNY at the end of 2018[185]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,170,013,812.18, down 23.67% from ¥2,842,852,497.72 at the end of the previous year[22]. - The company's total liabilities decreased to CNY 342,408,640.32 from CNY 886,279,666.13, marking a reduction of about 61.3%[154]. - The company's current assets totaled CNY 1,591,141,535.10, down from CNY 2,237,496,291.27, indicating a decrease of about 28.9%[148]. - Accounts receivable increased to CNY 607,599.26 from CNY 162,329.33, showing a significant increase of about 273.5%[145]. - Inventory decreased to CNY 114,712,452.35 from CNY 283,150,044.02, indicating a reduction of approximately 59.5%[148]. Research and Development - Research and development expenses increased by 36.95% to ¥8,996,000.96 from ¥6,568,599.30 in the previous year, indicating a focus on innovation[51]. - Research and development expenses for the first half of 2019 were approximately CNY 8.99 million, an increase from CNY 6.57 million in the same period of 2018[172]. Legal Matters - The company is involved in a significant lawsuit regarding patent infringement with a claim amount of 300,000 yuan[73]. - The company is involved in a trademark licensing dispute with Shantou High-tech Zone Lulu Southern Co., Ltd., with the court ruling that the company must continue to fulfill its obligations under the licensing agreement[76]. - The first-instance judgment ordered the company to return 932.5 million yuan to Shantou High-tech Zone Lulu Southern Co., Ltd. along with overdue interest calculated from May 16, 2018[80]. - The company reported that it is unable to predict the impact of ongoing litigation on its current or future profits[80]. - The company’s legal representatives believe that the first-instance judgment by the Shantou court violated procedural rules, and an appeal has been filed[76]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 52,338[122]. - The largest shareholder, Wanxiang Agricultural Group Co., Ltd., holds 40.68% of the shares, totaling 398,119,878 ordinary shares[122]. - The total number of shares issued is 978,562,728, with 99.98% being unrestricted shares[118]. - The company has not experienced any changes in its controlling shareholder during the reporting period[127]. - The top ten shareholders do not have any related party relationships or concerted actions[124]. Corporate Strategy and Market Position - The company aims to consolidate and develop its core competitive advantages in brand, scale, and technology[6]. - The company is facing increasing competition in the plant protein beverage industry due to rising consumer interest and investment[6]. - The company maintains a leading position in the plant protein beverage sector, being the largest producer of almond milk in China[31]. - The company aims to expand its market presence by targeting high-end consumer groups and optimizing its sales channels[42]. Environmental and Compliance - The company has a wastewater treatment facility with a capacity of 1000 m³/d, and the treated wastewater meets environmental assessment requirements[100]. - The company has not reported any non-compliance with pollutant discharge standards during the reporting period[100]. - The company has a valid pollutant discharge permit effective from May 23, 2019, to December 31, 2020[109].

Financial Performance - The company's revenue for Q1 2019 was ¥930,892,960.54, representing a 3.94% increase compared to ¥895,593,873.57 in the same period last year[9]. - Net profit attributable to shareholders was ¥222,109,281.77, up 1.60% from ¥218,615,441.72 year-on-year[9]. - Basic and diluted earnings per share were both ¥0.23, reflecting a 4.55% increase from ¥0.22 in the same period last year[9]. - Net profit increased by 42.26% to ¥747,643,865.64, contributing to an increase in undistributed profits[20]. - Net profit for the current period was ¥222,820,556.97, compared to ¥218,596,524.98 in the previous period, indicating a growth of 1.0%[61]. - Operating profit reached ¥217,591,997.89, up 15.0% from ¥189,255,210.35 in the prior period[65]. - Net profit for the current period was ¥163,212,684.90, representing a 16.0% increase from ¥140,699,488.37 in the previous period[65]. Cash Flow - The net cash flow from operating activities was -¥106,480,255.10, a significant decrease of 497.55% compared to ¥26,783,806.54 in the previous year[9]. - Operating cash flow decreased by 32.02% to ¥568,367,249.82, attributed to a decline in cash received from sales[20]. - The total cash flow from operating activities was -¥106,480,255.10, a decline compared to a positive cash flow of ¥26,783,806.54 in the prior period[69]. - The company reported a decrease in cash inflow from operating activities, totaling ¥568,367,249.82, compared to ¥836,065,860.07 in the previous period[72]. - The total cash outflow from operating activities was ¥674,847,504.92, compared to ¥809,282,053.53 in the prior period[72]. - Cash and cash equivalents net decrease amounted to -¥107,045,816.08, a decline of 574.43% due to reduced cash flow from operating activities[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,622,407,629.80, down 7.75% from ¥2,842,852,497.72 at the end of the previous year[9]. - Total liabilities decreased by 50.01% to ¥443,014,241.24, primarily due to a reduction in current liabilities[20]. - Total assets decreased to ¥2,545,274,381.88 from ¥2,915,449,611.91, a decline of 12.7%[54]. - Total liabilities also decreased to ¥582,567,938.28 from ¥1,115,955,853.21, a reduction of 47.9%[54]. - Current liabilities totaled ¥532,885,438.28, down from ¥1,066,273,353.21, a decrease of 50.0%[54]. - Total current liabilities decreased to CNY 393,331,741.24 from CNY 836,597,166.13, a decline of approximately 53%[44]. Shareholder Information - The top shareholder, Wanxiang San Nong Group Co., Ltd., holds 40.68% of the shares, totaling 398,119,878 shares[14]. - There were no significant changes in the shareholding structure among the top ten shareholders during the reporting period[17]. Inventory and Receivables - Accounts receivable increased by 602.96% to ¥1,141,117.75 due to an increase in credit sales[20]. - Inventory decreased by 33.72% to ¥187,685,715.63 as raw materials and finished goods inventory declined[20]. - Accounts receivable increased significantly to CNY 1,141,117.75 from CNY 162,329.33, marking a growth of approximately 600%[38]. - Inventory decreased to CNY 187,685,715.63 from CNY 283,150,044.02, reflecting a reduction of about 33.67%[38]. Expenses - Management expenses increased by 48.32% to ¥22,779,411.67 due to higher compensation and benefits for management[20]. - The company incurred sales expenses of ¥150,848,420.08, which is an increase from ¥146,968,759.25 in the previous period[65]. - Research and development expenses were ¥4,644,207.04, a slight increase from ¥4,567,021.58, reflecting a focus on innovation[58]. Other Information - The company is involved in ongoing litigation regarding patent infringement, which may impact future operations[24]. - The company reported non-recurring gains and losses totaling ¥18,686.48 after tax impacts of ¥6,228.83[9]. - The company has not disclosed any significant new product developments or market expansion strategies in the current report[30]. - The company did not provide any specific guidance for future performance or earnings forecasts in the report[30]. - The first quarter report for 2019 was not audited, indicating preliminary financial data[97].

| --- | --- | |----------------------------------------------------|----------------------------------------------------------------| | | | | 证券代码： 000848 | 证券简称：承德露露 公告编号： 2018-024 | | | 河北承德露露股份有限公司 | | 关于参加河北辖区上市公司 | 2019 年度投资者 | | | 网上集体接待日活动的公告 | | | 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， | | 没有虚假记载、误导性陈述或重大遗漏。 | | | 河北承德露露股份有限公司（以下简称"公司"）已于 | 2019 年 | | 3 月 16 日发布了 2018 | 年度报告。为进一步做好投资者关系管理工作， | | | 加强与广大投资者的沟通，使广大投资者更全面深入地了解公司情况， | | 公司定于 2019 年 5 月 15 | 日（星期三）15： 30--17：00 参加中国证 | | | 监会河北监管局举办的"理性投资、沟通增信——河 ...

Financial Performance - The company's operating revenue for Q1 2019 was ¥930,892,960.54, representing a 3.94% increase compared to ¥895,593,873.57 in the same period last year[9] - The net profit attributable to shareholders for Q1 2019 was ¥222,109,281.77, which is a 1.60% increase from ¥218,615,441.72 in the previous year[9] - The basic earnings per share for Q1 2019 was ¥0.23, up 4.55% from ¥0.22 in the previous year[9] - Net profit increased by 42.26% to ¥747,643,865.64, contributing to an increase in undistributed profits[19] - The company's net profit for the first quarter of 2019 is projected to show a significant change compared to the same period last year, although specific figures are not provided[27] - Net profit for the quarter was CNY 222,820,556.97, up from CNY 218,596,524.98 year-over-year, indicating a growth of approximately 2.0%[55] - The company's operating revenue for the current period is approximately ¥963.11 million, an increase of 4.5% compared to ¥923.76 million in the previous period[58] - The net profit for the current period is approximately ¥163.21 million, representing a growth of 16.0% from ¥140.70 million in the previous period[62] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥-106,480,255.10, a significant decrease of 497.55% compared to ¥26,783,806.54 in the same period last year[9] - Operating cash flow decreased by 32.02% to ¥568,367,249.82, driven by a reduction in cash received from sales[22] - Cash and cash equivalents decreased by 574.43% to -¥107,045,816.08, reflecting a decline in net cash flow from operating activities[22] - The company's cash and cash equivalents were CNY 1,820,097,198.35 as of March 31, 2019, down from CNY 1,927,143,014.43 at the end of 2018, representing a decrease of about 5.56%[37] - The company's operating cash flow for the current period is negative at approximately -¥106.48 million, a decline from a positive cash flow of ¥26.78 million in the previous period[63] - The cash inflow from operating activities totaled 568,005,433.28 RMB, down 31.6% from 829,691,639.20 RMB in the previous period[70] - The company’s cash and cash equivalents decreased by 99,014,732.32 RMB during the current period, contrasting with an increase of 30,283,228.27 RMB in the previous period[73] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,622,407,629.80, a decrease of 7.75% from ¥2,842,852,497.72 at the end of the previous year[9] - Total liabilities decreased by 50.01% to ¥443,014,241.24, primarily due to a reduction in current liabilities[19] - The company's total assets decreased to CNY 2,545,274,381.88 from CNY 2,915,449,611.91, a decline of about 12.7%[51] - Total liabilities decreased to CNY 582,567,938.28 from CNY 1,115,955,853.21, a reduction of approximately 47.9%[51] - Total current liabilities decreased to CNY 393,331,741.24 from CNY 836,597,166.13, indicating a significant reduction of approximately 53%[41] Shareholder Information - The top shareholder, Wanxiang Agricultural Group Co., Ltd., holds 40.68% of the shares, totaling 398,119,878 shares[14] - The net assets attributable to shareholders increased by 11.56% to ¥2,144,252,174.87 from ¥1,922,142,893.10 at the end of the previous year[9] - The total equity attributable to the parent company's shareholders increased to CNY 2,144,252,174.87 as of March 31, 2019, compared to CNY 1,922,142,893.10 at the end of 2018, marking an increase of about 11.53%[44] - The total equity increased to CNY 1,962,706,443.60 from CNY 1,799,493,758.70, showing a growth of approximately 9.1%[51] Operational Efficiency - Accounts receivable increased by 602.96% to ¥1,141,117.75 due to an increase in credit sales[19] - Inventory decreased by 33.72% to ¥187,685,715.63, attributed to a reduction in raw materials and finished goods[19] - Deferred tax assets decreased by 54.36% to ¥7,423,438.61, impacted by a reduction in internal product profits[19] - Prepayments decreased by 72.41% to ¥172,406,493.40, due to a reduction in advance payments from distributors[19] - The company's inventory as of March 31, 2019, was CNY 187,685,715.63, down from CNY 283,150,044.02 at the end of 2018, reflecting a decrease of approximately 33.7%[37] - The company reported a decrease in accounts receivable to CNY 1,141,117.75 from CNY 162,329.33, reflecting improved cash flow management[51] Expenses - Total operating costs amounted to CNY 633,287,630.77, compared to CNY 606,327,449.34 in the same period last year, reflecting an increase of about 4.5%[55] - Management expenses increased by 48.32% to ¥22,779,411.67, due to higher compensation and benefits for management[19] - Research and development expenses for the quarter were CNY 4,644,207.04, slightly up from CNY 4,567,021.58, indicating a focus on innovation[55] - The company's sales expenses rose to CNY 164,405,644.09 from CNY 158,105,559.39, indicating increased investment in marketing efforts[55] - The company's sales expenses increased to approximately ¥150.85 million from ¥146.97 million, indicating a rise in marketing efforts[58]

Financial Performance - The company reported a profit distribution plan, proposing a cash dividend of 4.00 RMB per 10 shares, based on a total of 978,562,728 shares[7]. - In 2018, the company's operating revenue was CNY 2,121,966,609.34, representing a 0.48% increase compared to CNY 2,111,873,347.17 in 2017[27]. - The net profit attributable to shareholders was CNY 413,057,313.39, a slight decrease of 0.13% from CNY 413,597,862.00 in the previous year[27]. - The net cash flow from operating activities surged by 251.48% to CNY 522,954,226.30, compared to CNY 148,785,503.78 in 2017[27]. - The total assets at the end of 2018 amounted to CNY 2,842,852,497.72, reflecting a 1.11% increase from CNY 2,811,642,070.79 in 2017[27]. - The net assets attributable to shareholders decreased by 3.81% to CNY 1,922,142,893.10 from CNY 1,998,366,943.71 in 2017[27]. - The basic earnings per share remained stable at CNY 0.42, unchanged from the previous year[27]. - The company reported a weighted average return on equity of 21.99%, an increase of 0.47% from 21.52% in 2017[27]. - Operating profit for the year was CNY 549.05 million, a decrease of 2.02% compared to the previous year[38]. - Net profit attributable to shareholders was CNY 413.06 million, down 0.13% year-on-year, primarily from beverage business[38]. Product Development and Market Strategy - The main product, Lululemon Almond Milk, is gaining popularity due to its natural and healthy characteristics, indicating a broad market potential[6]. - The company launched a new product, "Hot Almond Milk," promoting it as a healthy breakfast option for urban young professionals[47]. - The company focuses on marketing strategies that highlight the health benefits of its products, particularly the unique qualities of wild almonds[48]. - The company is focused on product innovation, using natural wild almonds as raw materials to cater to health-conscious consumers[89]. - The company aims to meet the evolving consumer demand for healthy and nutritious products in the beverage market[87]. Competitive Landscape - The company has a 68-year history in producing plant protein beverages, establishing core competitive advantages in brand, scale, and technology[6]. - The competitive landscape in the industry is expected to intensify due to significant investments flowing into the sector[6]. - The company aims to consolidate and develop its existing competitive advantages while actively taking necessary risk prevention measures[6]. - The company operates four production bases, enhancing its scale advantage in the beverage industry[41]. Research and Development - The company holds 45 patents, including 12 invention patents, showcasing its strong technological capabilities[43]. - Total R&D expenditure for the year was CNY 11,356,521.62, representing 0.54% of total operating revenue[68]. - R&D investment amounted to ¥11,356,521.62 in 2018, a decrease of 1.00% compared to ¥11,471,581.08 in 2017[69]. - The number of R&D personnel decreased by 9.46% from 148 in 2017 to 134 in 2018, while the proportion of R&D personnel remained stable at 10.72%[69]. Internal Control and Risk Management - The company is committed to internal control and risk management improvements to enhance operational efficiency[49]. - The company aims to enhance internal controls and improve management of high-risk areas for sustainable development[51]. - The company is focusing on information technology improvements, including the development of various management systems for better operational efficiency[51]. - The company emphasizes food safety and quality, implementing a traceability system for raw materials and production processes[48]. Shareholder Structure and Governance - The actual controller of the company is Lu Weiding, who inherited the controlling stake in Wanxiang San Nong Group[26]. - The company’s controlling shareholder, Wanxiang San Nong Group, holds 40.68% of the total shares[151]. - The largest shareholder, Wanxiang Agricultural Group Co., Ltd., holds 40.68% of the shares, totaling 398,119,878 shares[162]. - The company has not conducted any repurchase transactions among the top 10 shareholders during the reporting period[166]. - The company has not issued any new shares or conducted any stock splits during the reporting period[158]. - The company has a focus on maintaining strong governance with independent directors and a well-structured board[187]. Employee Management and Compensation - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 3.452 million CNY[195]. - The company employed a total of 1,250 staff, with 508 in production and 519 in sales[196]. - The total number of employees receiving remuneration during the period was 1,520[196]. - The company has implemented a performance-based annual salary system for its directors and senior management, which includes guaranteed income, position income, and incentive income[195]. - The company provides social insurance and pays contributions on a monthly basis for its employees[200]. Environmental Compliance - The company has established an emergency response plan for environmental incidents, registered with the local environmental protection bureau[144]. - The company monitors wastewater parameters including COD, ammonia nitrogen, BOD, SS, and pH, with automatic and manual monitoring methods[145]. - The company has no reported cases of exceeding pollutant discharge standards[144]. - The company’s wastewater treatment facilities operate normally and meet environmental assessment requirements[144].

Financial Performance - Net profit attributable to shareholders increased by 6.37% to CNY 97,248,844.51 for the reporting period[8] - Operating revenue for the reporting period was CNY 494,177,026.48, a decrease of 5.27% year-on-year[8] - Basic earnings per share rose by 11.11% to CNY 0.10 for the reporting period[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 97,040,008.83, up 6.12% year-on-year[8] - The company reported a year-to-date net profit of CNY 350,212,336.14, an increase of 9.76% compared to the same period last year[8] Cash Flow and Assets - The net cash flow from operating activities increased significantly by 247.06% to CNY 139,861,345.39 year-to-date[8] - Total assets decreased by 17.34% to CNY 2,324,222,141.76 compared to the end of the previous year[8] - Operating cash flow turned positive at ¥139,861,345.39, a 247.06% increase driven by higher cash receipts from sales[19] Shareholder Information - The top shareholder, Wanxiang San Nong Group Co., Ltd., holds 40.68% of the shares[10] - The actual controller of the company, Mr. Lu Weiding, established a charitable trust with a contribution of 600 million yuan, resulting in the trust indirectly controlling 40.68% of the company's shares[24] - The company received approval from the China Securities Regulatory Commission (CSRC) to exempt the charitable fund from the obligation to make a tender offer for 398,119,878 shares, approximately 40.68% of the total share capital[25] Liabilities and Receivables - Total liabilities decreased to ¥431,575,746.11, down 44.56% primarily due to a reduction in current liabilities[15] - Accounts receivable increased significantly to ¥12,684,496.05, up 4,695.11% due to an increase in bank acceptance bills[15] - Other receivables fell to ¥155,300.23, down 48.59% as a result of the return of petty cash by various sales departments[15] Inventory and Expenses - Inventory decreased to ¥144,217,431.90, down 44.17% as a result of reduced raw materials and finished goods[15] - Prepayments dropped to ¥63,404,679.51, down 83.81% due to a decrease in advance payments from distributors[15] - Sales expenses rose to ¥355,005,312.48, an increase of 44.41% attributed to higher advertising and promotional costs[16] Other Financial Information - Financial income improved to -¥19,827,700.08, a 40.76% increase due to higher interest income[16] - Investment income reported a loss of -¥649,966.43, a 224.55% increase in losses from investee companies[16] - The weighted average return on net assets decreased by 0.49 percentage points to 4.53%[8] Corporate Governance - The company did not engage in any repurchase transactions during the reporting period[11] - There were no overdue commitments by the actual controller, shareholders, or related parties during the reporting period[26] - The company did not engage in any securities investments during the reporting period[27] - There were no entrusted financial management activities during the reporting period[28] - The company did not participate in any derivative investments during the reporting period[29] - There were no violations related to external guarantees during the reporting period[31] - There were no non-operating fund occupations by the controlling shareholder or related parties during the reporting period[32] - The chairman of the company is Lu Yongming, and the report was issued on October 18, 2018[33]