Financial Performance - The company's operating revenue for 2021 was ¥3,503,442,453.93, representing a 6.47% increase from ¥3,290,527,650.55 in 2020[16]. - The net profit attributable to shareholders for 2021 was ¥62,447,360.75, a decrease of 46.12% compared to ¥115,902,867.85 in 2020[16]. - The net profit after deducting non-recurring gains and losses was -¥447,776,616.50, a significant decline of 836.37% from ¥60,808,597.43 in 2020[16]. - The net cash flow from operating activities was ¥1,369,454,939.67, showing a slight increase of 0.31% from ¥1,365,237,767.04 in 2020[16]. - The total assets at the end of 2021 were ¥14,003,756,000.06, reflecting a 1.10% increase from ¥13,850,860,795.49 at the end of 2020[16]. - The basic earnings per share for 2021 were ¥0.05, down 44.44% from ¥0.09 in 2020[16]. - The weighted average return on net assets was 1.13%, a decrease of 0.88% from 2.01% in 2020[16]. - The company reported a total of 249,722,007 shares held by major shareholders, representing 18.96% of the total share capital[15]. - The company reported a significant increase in investment income of 583,299,837.94 CNY, which accounted for 305.63% of total profit[66]. - The company reported a total asset adjustment impact of 68,518,073.34 CNY due to the implementation of the new leasing standards as of January 1, 2021[171]. Business Strategy and Operations - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[5]. - The company has issued 260,094,674 shares through a private placement to specific investors, indicating a strategy to raise capital for growth initiatives[9]. - The company is focused on enhancing its breeding technology and innovation capabilities to improve the efficiency of new crop variety development[5]. - The company has expanded its business scope to include the research, production, and sales of new pesticides and fertilizers, as well as high-quality deep processing of agricultural products[13]. - The company operates under a "company + contractor" model for seed production, which mitigates risks associated with natural disasters and production issues[25]. - The company has implemented a self-managed base model for seed production, where it directly manages land and production processes, assuming production risks[25]. - The company aims to enter the top five global seed companies by 2025, focusing on rice, corn, and vegetables as core categories[85]. - The company is actively pursuing capital operations and industry resource integration to strengthen its position in the seed industry[86]. Research and Development - The company emphasizes the importance of new variety research and development, which is characterized by long cycles and high investment, posing uncertainties in meeting market demands[5]. - The company has developed a mature biotechnology platform for transgenic corn and gene-edited rice, enhancing breeding efficiency through advanced technologies[27]. - The company has created 24 new germplasm resources through gene editing technology, significantly improving the efficiency of developing superior varieties[61]. - The company has established a comprehensive independent R&D system covering molecular biotechnology, conventional breeding technology, and variety testing evaluation, contributing to the cultivation of numerous high-quality varieties for agricultural production[144]. - The company has established 5 new compliant bases for genetically modified corn, enhancing its market leadership in corn variety development[63]. Market and Competition - The seed industry faces seasonal operational risks, with high inventory levels and intense market competition, which could lead to increased financial pressure if inventory is not managed effectively[5]. - The company has maintained a leading position in hybrid rice varieties, holding seven of the top ten spots in national promotion area rankings[31]. - The company reported a significant increase in sales volume for miscellaneous grain seeds, which rose by 124.41% in production volume[47]. - The revenue from overseas markets grew by 49.92%, reaching ¥343,491,105.64, up from ¥229,115,035.37 in 2020[45]. - The company has a strong brand presence, with the "Yuan Longping" brand recognized as one of the most valuable in the industry, and has established a brand matrix for various crops[29]. Social Responsibility and Community Engagement - The company has been responsible for over 1.2 million kilograms of national seed disaster relief reserves annually since 2008, making it one of the largest seed companies in China in terms of storage capacity[144]. - The company donated a total of 500,000 RMB in emergency supplies and seeds to aid disaster-stricken areas in Henan during severe flooding in July 2021[146]. - The company has committed to improving its social responsibility management system and enhancing communication with stakeholders to foster sustainable development in the seed industry[148]. - The company has been recognized for its contributions to food security and agricultural development, reflecting its commitment to social responsibility and community support[145]. - The company has initiated the "Farmer Benefit System," including platforms like 365 Beneficial Agriculture and Quality Grain Trading, to help farmers reduce costs and increase efficiency[150]. Governance and Management - The company has a dedicated investor relations team, ensuring effective communication with stakeholders[11]. - The company’s legal representative is Mao Changqing, indicating a stable leadership structure[10]. - The board of directors consists of 15 members, including 5 independent directors, ensuring a balanced governance structure[91]. - The company maintains strict independence from its controlling shareholder, with separate financial and operational systems in place[93]. - The company has established an independent accounting system and financial management practices, with no shared bank accounts with the controlling shareholder[93]. Challenges and Risks - The company reported a significant impact from natural disasters and pest risks, which can adversely affect seed yield and quality, leading to potential production challenges[2]. - The company acknowledges the ongoing impact of the COVID-19 pandemic on its operations and the broader industry, with uncertainties regarding future effects[5]. - The company is subject to risks from changes in national agricultural policies, which could affect its business operations and market strategies[3]. - The company faces challenges related to the adaptation of new varieties to changing environmental conditions, which is a critical factor for success in the seed industry[5]. Employee Engagement and Development - The company has conducted 8 training sessions for management personnel, cultivating 55 first-tier talents and 559 second-tier talents[129]. - The company emphasizes a stable profit distribution policy, aiming for a minimum cash dividend ratio of 80% for mature companies without major capital expenditure plans[130]. - The company has established a comprehensive performance evaluation and remuneration management system for directors, supervisors, and senior management[111]. - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to 9.419 million yuan[111]. Future Outlook - The company provided a positive outlook for 2022, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[160]. - The management reiterated its commitment to sustainable practices, with plans to reduce carbon emissions by 15% over the next three years[162]. - The company plans to enhance its digital marketing efforts, with a budget increase of 25% allocated for 2022 to improve customer engagement[160].

Financial Performance - The company's operating revenue for the third quarter was -292,769,848.93 CNY, a decrease of 55.99% compared to the same period last year[3]. - The net profit attributable to shareholders was -241,166,494.47 CNY, representing an increase of 9.38% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -599,019,467.46 CNY, a decrease of 90.55% compared to the same period last year[3]. - Total operating revenue for Q3 2021 was CNY 827,047,303.99, a decrease of 12.4% compared to CNY 944,093,446.42 in the same period last year[16]. - Net profit for Q3 2021 was a loss of CNY 276,206,763.07, compared to a loss of CNY 300,720,168.91 in the previous year[17]. - The total comprehensive income attributable to the parent company was -388,803,580.42 CNY, compared to -492,478,843.70 CNY in the previous period, showing an improvement of approximately 21.1%[18]. - The company’s basic and diluted earnings per share were both -0.2305 CNY, compared to -0.2625 CNY in the previous period, indicating a reduction in losses[18]. Assets and Liabilities - The total assets at the end of the reporting period were 14,162,701,904.93 CNY, an increase of 2.25% from the end of the previous year[3]. - The company's total assets reached CNY 14,162,701,904.93, an increase from CNY 13,850,860,795.49 in the previous year[15]. - Total liabilities amounted to CNY 8,184,819,079.68, up from CNY 7,562,604,877.76 year-over-year[15]. - Total non-current assets amounted to CNY 7,761,264,874.29, a decrease of CNY 11,632,623.69 compared to the previous period[23]. - Total assets reached CNY 13,850,860,795.49, reflecting a decrease of CNY 11,632,623.69 from the previous period[24]. - Current liabilities totaled CNY 4,617,987,832.39, remaining unchanged from the previous period[24]. - Long-term borrowings were reported at CNY 2,863,562,690.00, consistent with the previous period[24]. - Total equity attributable to shareholders of the parent company decreased to CNY 5,260,628,575.11 from CNY 5,510,651,560.96[15]. Cash Flow - The company reported a cash flow from operating activities of 603,568,568.69 CNY, which decreased by 12.28% year-to-date[3]. - The net cash flow from operating activities was 603,568,568.69 CNY, a decrease of 12.3% from 688,076,561.58 CNY in the previous period[20]. - Cash inflow from operating activities totaled 2,363,174,908.31 CNY, up 12.1% from 2,108,607,286.61 CNY year-on-year[20]. - The company reported a net cash outflow from investing activities of -646,073,432.44 CNY, worsening from -333,264,331.03 CNY in the previous period[21]. - The cash flow from financing activities resulted in a net outflow of -459,677,176.87 CNY, an improvement from -705,933,428.44 CNY in the previous period[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 94,357[8]. - The largest shareholder, CITIC Agricultural Technology Co., Ltd., holds 16.54% of the shares[8]. Inventory and Impairment - The company recorded a provision for inventory impairment of 193 million CNY during the reporting period due to inventory checks[7]. - The company’s inventory as of September 30, 2021, was approximately CNY 2.45 billion, slightly down from CNY 2.47 billion at the end of 2020, a decrease of about 0.5%[13]. Investments and Equity - The company recognized non-recurring gains of 404,644,359.73 CNY from the disposal of non-current assets, primarily from the transfer of partial equity in Longping Biotechnology (Hainan) Co., Ltd.[5]. - The company completed a share transfer of 28.48% in Longping Biology for CNY 28.48 million, reducing its stake from 52.34% to 18.13%[11]. - The company received a total of CNY 28.48 million from the share transfer to the central enterprise fund, with the second payment of CNY 13.95 million received on August 17, 2021[11]. - The company’s long-term equity investments increased to approximately CNY 2.35 billion from CNY 2.20 billion, showing a growth of about 6.7%[13]. Research and Development - Research and development expenses for the quarter were CNY 109,201,266.15, an increase from CNY 75,251,160.96 in the same period last year[16]. Regulatory and Approval Status - The company’s non-public offering application was not approved by the China Securities Regulatory Commission on October 14, 2021[11]. - The third quarter report was not audited, indicating that the figures may be subject to change upon final review[26].

Financial Performance - The company's operating revenue for the reporting period was CNY 1,119,817,152.92, a decrease of 1.06% compared to the same period last year[16]. - The net profit attributable to shareholders was a loss of CNY 57,110,536.07, an improvement of 22.39% from a loss of CNY 73,586,289.48 in the previous year[16]. - The net cash flow from operating activities was CNY -260,096,794.81, a significant decline of 951.59% compared to CNY 30,542,474.28 in the same period last year[16]. - The total assets at the end of the reporting period were CNY 13,687,508,775.82, a decrease of 1.18% from the previous year[16]. - The company reported a significant increase in overseas revenue by 131.80% to CNY 203,790,658.95, which constituted 18.21% of total revenue[45]. - The company reported a total comprehensive income of 63,324,040.80 CNY for the current period, compared to a loss of 57,110,536.07 CNY in the previous period[124]. - The company experienced a net loss attributable to shareholders of the parent company of CNY 57,110,536.07, an improvement from a loss of CNY 73,586,289.48 in the previous year[114]. Research and Development - The company focuses on modern seed industry development, primarily engaging in the R&D, breeding, promotion, and service of high-tech crop seeds, with key products including hybrid rice, corn, and vegetable seeds[29]. - The R&D team consists of 438 dedicated personnel, accounting for 16.59% of the total workforce, including renowned experts in rice and corn breeding[33]. - The company has made significant progress in biotechnology, including the development of transgenic corn and gene-edited rice, with over 20 domestic and international patents applied for[33]. - The company aims to enhance its breeding information management platform to improve the efficiency of breeding processes and accelerate technological breakthroughs in smart breeding[33]. - The company has established a comprehensive commercial breeding innovation system, resulting in the cultivation of numerous proprietary new varieties that support sustainable industry development[32]. - The company applied for 172 new plant variety rights, including 111 for rice and 58 for corn, and obtained 84 rights, with a total of 556 rights granted by the end of the reporting period[36]. Inventory and Production - The seed industry is characterized by seasonal operations, and any mismatch in production planning can lead to increased inventory pressure and financial strain[6]. - The company's seed production volume reached 18.0981 million kilograms, an increase of 20.82% compared to the same period last year[36]. - The company has established 12 rice breeding stations and 19 corn breeding stations across 7 countries, with a total experimental area of nearly 10,000 acres[38]. - The company has implemented a health indicator system comprising 20 metrics across marketing, production, inventory, finance, and R&D to guide sustainable development[26]. - The company acknowledges the potential risks associated with market fluctuations and the need for strategic inventory management[6]. Financial Management and Strategy - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[6]. - The company is committed to maintaining transparency and accuracy in its financial reporting, as stated by its management[3]. - The company has established a performance and compensation management system to enhance organizational vitality and human capital value[25]. - The company aims to leverage industry opportunities and enhance quality in research, production, and sales in response to national agricultural policies[27]. - The company is actively exploring commercial insurance for seed production to mitigate risks associated with natural disasters and production challenges[30]. Market and Competition - The company faces challenges in new variety research and promotion due to high investment and long development cycles, with market competition intensifying[5]. - The company operates under a supportive national agricultural policy, which is crucial for its long-term stability and growth[3]. - The company emphasizes the importance of seed purity and germination rates as key indicators of production quality and operational efficiency[11]. - The company has developed a marketing strategy that emphasizes precise marketing and collaboration with industry chain partners, enhancing sales effectiveness[41]. Corporate Governance and Compliance - The company has not faced any administrative penalties related to environmental issues during the reporting period[67]. - The company reported no significant litigation or arbitration matters during the reporting period[72]. - The company has not engaged in any related party transactions during the reporting period[74]. - The company has complied with the disclosure requirements set by the Shenzhen Stock Exchange regarding its agricultural business[87]. - The semi-annual financial report has not been audited[72]. Assets and Liabilities - The company's total liabilities included short-term borrowings of ¥2,940,000,000.00 and long-term borrowings of ¥2,726,965,810.00, indicating a stable debt structure[50]. - The company’s cash and cash equivalents decreased to ¥1,061,865,529.80, making up 7.76% of total assets, down from 11.75% the previous year, due to increased operational and investment expenditures[50]. - The company reported a short-term loan of CNY 2.94 billion, an increase from CNY 2.83 billion, indicating a rise of about 3.9%[107]. - The total liabilities of the company were not explicitly stated but can be inferred to have changed in relation to the asset figures provided[106]. - The company’s total liabilities to equity ratio stands at approximately 1.46[199]. Shareholder Information - The company’s stock is listed on the Shenzhen Stock Exchange under the code 000998, reflecting its public trading status[12]. - The largest shareholder, CITIC Agricultural Technology Co., Ltd., holds 16.54% of the shares, totaling 217,815,722[94]. - The total number of shareholders holding more than 5% of the shares is 169,914[94]. - The company has a repurchase account holding 23,001,458 shares, which is 1.75% of total shares[96]. - The total number of shares before the recent change was 1,316,970,298, with 354,154,871 shares subject to restrictions, representing 26.89% of total shares[90].

Financial Performance - The company's operating revenue for 2018 was CNY 3,579,717,393.27, representing a 12.22% increase compared to CNY 3,190,019,342.23 in 2017[18]. - The net profit attributable to shareholders for 2018 was CNY 790,762,782.89, a 2.46% increase from CNY 771,772,045.37 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 46.89% to CNY 325,388,956.05 from CNY 612,694,489.99 in 2017[18]. - The company's total assets at the end of 2018 were CNY 15,357,433,435.60, an 18.35% increase from CNY 12,976,621,364.22 in 2017[18]. - The net assets attributable to shareholders increased by 15.51% to CNY 6,847,228,221.27 from CNY 5,927,609,153.41 in 2017[18]. - The basic earnings per share for 2018 was CNY 0.63, up 3.28% from CNY 0.61 in 2017[18]. - The weighted average return on equity for 2018 was 13.26%, slightly up from 13.10% in 2017[18]. - The company reported a net cash flow from operating activities of CNY -14,403,400, a significant decrease from CNY 520,465,370 in 2017, indicating a 102.73% decline[18]. - In Q4 2018, the operating revenue reached CNY 2,123,144,993.78, contributing significantly to the annual total[21]. - The company achieved a net profit of RMB 940 million in 2018, representing a year-on-year increase of 22% compared to RMB 770 million in 2017[123]. Dividend Policy - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, based on a total share capital of 1,301,494,740 shares after deducting treasury stock[6]. - In 2018, the company planned to distribute a cash dividend of 2.00 CNY per 10 shares, totaling 260,298,948.00 CNY, which accounted for 32.92% of the net profit attributable to ordinary shareholders[116]. - The total cash dividend for 2018, including other methods like share buybacks, reached 293,958,498.52 CNY, representing 37.17% of the net profit attributable to ordinary shareholders[115]. - The company will maintain a stable profit distribution policy, ensuring cash dividends are no less than 10% of the distributable profits for the year[113]. - The cash dividend policy is compliant with the company's articles of association and shareholder resolutions, with clear standards and procedures in place[114]. Business Operations and Strategy - The company focuses on the cultivation, breeding, promotion, and sales of high-tech agricultural crops, primarily hybrid rice and vegetables[13]. - The company is committed to enhancing its agricultural production and sales information system, which is part of its long-term strategic initiatives[6]. - The company is actively pursuing international collaborations in corn research, enhancing its global presence in the agricultural sector[30]. - The company has established a commercial breeding system that integrates market orientation and academic collaboration, enhancing its R&D capabilities[29]. - The company aims to enhance its international presence by establishing breeding stations in South Asia and South America, promoting the globalization of its seed industry[40]. - The company is focused on internationalization efforts, which are subject to various external factors, including political and legal environments in target countries[6]. - The company has undergone several changes in its business scope since its establishment in 1999, expanding into new areas such as new pesticides and fertilizers[13]. - The company is adapting to market demand upgrades and organizational changes in the seed industry due to ongoing supply-side reforms in domestic agriculture[103]. - The company is focusing on international cooperation and competition as the national policy promotes the opening up of the seed industry[103]. Research and Development - The company emphasizes the importance of new variety research and development, which is characterized by long cycles and high investment, with uncertain market acceptance[5]. - The R&D layout has expanded, with breeding stations established in northern regions of China, covering all ecological zones for rice[30]. - The company has developed a series of new crop varieties with independent intellectual property rights, supporting sustainable industry development[29]. - The company has established ecological testing networks for hybrid rice, corn, and other crops across major agricultural regions, implementing a testing evaluation process for new varieties that lasts no longer than 4 years for rice and 7 years for corn[32]. - The company has made significant investments in joint ventures, increasing equity assets by 1,400 million and 16,920 million respectively during the reporting period[34]. - The company is committed to advancing research and development, particularly in hybrid rice and corn, to ensure the launch of high-tech, high-value new varieties[108]. - The company has established a comprehensive quality control system, ensuring traceability of seed batches from production to sale[41]. Market Expansion and Sales - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth[20]. - The sales model primarily utilizes a three-tier distribution system, with a focus on prepayment sales policies[28]. - The company’s hybrid rice seed market share continued to increase, generating revenue of CNY 2.125 billion, which is an increase of CNY 183 million from the previous year[44]. - The company successfully acquired Lianchuang Seed Industry, leading to a revenue of CNY 603 million from corn seeds, an increase of CNY 253 million year-on-year, with the market share ranking first in the country[44]. - The company’s vegetable seed business generated revenue of CNY 284 million, an increase of CNY 68 million, driven by enhanced competitive capabilities and innovative marketing strategies[44]. - The company has established long-term trade cooperation with multiple countries in Southeast Asia, South America, and Africa, with over 30 countries researching or introducing hybrid rice[154]. - The company has launched a new financial service initiative by establishing a rural bank and promoting the "Huinong Card" in collaboration with Agricultural Bank of China[152]. Risk Management - The company acknowledges the risk of inventory pressure due to high overall industry stock levels, which may lead to increased costs and financial strain if not managed properly[6]. - The company is facing challenges related to the timely digestion of inventory, which is critical for maintaining operational efficiency[6]. - The company has implemented a risk-sharing mechanism with contract farmers to mitigate production risks associated with natural disasters[27]. - The company recognizes the potential impact of changes in national agricultural policies on its operations, given the strategic nature of the seed industry[5]. Corporate Governance - The company’s financial report is guaranteed to be true, accurate, and complete by its board and management, ensuring accountability[2]. - The company has committed to ensuring that minority shareholders have adequate opportunities to express their opinions and that their legal rights are fully protected[114]. - The company is under a lock-up period of 36 months for newly subscribed shares, which will be lifted after fulfilling the profit compensation obligations[121]. - The company ensures compliance with relevant laws and regulations regarding related party transactions, maintaining fairness in pricing[120]. - The company has established a performance compensation mechanism to safeguard the interests of shareholders[121]. Social Responsibility and Sustainability - The company has been recognized as a leading enterprise in hybrid rice technology, contributing to food security in developing countries[153]. - The company has trained over 30,000 farmers, with an average income increase of approximately 4,000 CNY per person, totaling over 600,000 CNY in training investment[152]. - The company has invested over 1 million RMB in equipment and funds for industry poverty alleviation projects, directly benefiting over 400 villagers[160]. - The company has committed to upgrading its R&D system to introduce breakthrough new varieties to meet modern agricultural demands[151]. - The company does not belong to the key pollutant discharge units as per environmental protection regulations, indicating its commitment to environmental sustainability[163].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year 2019, representing a growth of 15% compared to the previous year[9]. - The company's operating revenue for 2019 was approximately ¥3.13 billion, a decrease of 12.58% compared to ¥3.58 billion in 2018[20]. - The net profit attributable to shareholders was approximately -¥293.89 million, representing a decline of 137.17% from ¥790.76 million in the previous year[20]. - The company reported a total revenue of approximately ¥1.93 billion in Q4 2019, following a decline in the previous quarters[26]. - The company achieved a new product output rate of over 75%, leading the industry in quality management and product development[43]. - The company reported a significant increase in the cost of main materials, which rose by 107.16% to CNY 406,861,796.37[62]. - The gross profit margin for agricultural products was 37.85%, a decrease of 3.05% year-on-year[56]. - The company reported a total benefit of CNY 172.79 million from the adjusted projects[94]. Research and Development - The company plans to invest 200 million RMB in research and development for new seed varieties and technologies in 2020, aiming to enhance its competitive edge in the market[5]. - The R&D team consists of 546 dedicated personnel, accounting for 18.29% of the total workforce, including renowned scientists and collaborations with prestigious research institutions[34]. - The company has invested in multiple biotechnology platforms to enhance its R&D capabilities, including the establishment of a third-generation hybrid rice seed company[33]. - The company has set up ecological testing networks for hybrid rice and corn in key agricultural regions to ensure the market adaptability of new varieties[35]. - The company applied for 180 new plant variety rights, with 22 granted, including 14 for rice and 4 for corn[49]. - The company has made progress in the development of transgenic traits and is establishing trial bases for transgenic corn varieties[106]. Market Expansion and Strategy - The company is actively expanding its market presence, with plans to enter three new provinces in 2020, targeting a 10% increase in market share[5]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2021[186]. - The company is focusing on digital transformation to drive marketing and R&D innovations[51]. - The management team highlighted a focus on strategic acquisitions to enhance competitive advantage in the agricultural sector[185]. - The company is actively pursuing partnerships with international agricultural firms to leverage advanced technologies[185]. Risk Management - The company has identified risks related to natural disasters and pest outbreaks, which could impact seed production and quality, emphasizing the need for robust risk management strategies[4]. - The company is facing challenges due to high inventory levels in the industry, which could lead to increased financial pressure if not managed effectively[5]. - The company is adapting to the ongoing COVID-19 pandemic, with measures in place to ensure business continuity and minimize disruptions to operations[5]. Corporate Governance and Compliance - The company has established a comprehensive contact system for investor relations, including dedicated personnel for securities affairs[11]. - The company has a commitment to disclose any related transactions in accordance with legal and regulatory requirements[112]. - The company has established a transparent information disclosure system, ensuring timely and accurate communication with investors[200]. - The governance structure of the company is in line with the guidelines set by the China Securities Regulatory Commission, with no significant discrepancies[200]. Social Responsibility and Community Engagement - The company has actively participated in training programs for low-income farmers, focusing on integrated agriculture and quality crop production[148]. - The company has invested over 2 million RMB in poverty alleviation projects, helping more than 700 villagers through hybrid rice seed production initiatives[155]. - The company has established a "Farmer Benefit System" to transition from a seed supplier to a comprehensive service provider for the planting industry[147]. - The company has trained nearly 10,000 agricultural professionals from over 100 countries through its international training programs by the end of 2019[149]. Future Outlook - The company provided a positive outlook for 2020, projecting a revenue growth of 10% to 12%[186]. - Future guidance suggests a projected revenue growth of 10-12% for the upcoming fiscal year[185]. - The company plans to enhance research and development efficiency, focusing on hybrid rice and corn varieties, and aims to integrate biotechnology with traditional breeding[106]. - The company aims to reduce operational costs by 8% through efficiency improvements in the supply chain[186].

Financial Performance - The company's operating revenue for Q1 2021 was ¥850,409,236.71, representing a 5.44% increase compared to ¥806,511,539.65 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2021 was ¥40,525,069.49, a significant increase of 69.14% from ¥23,958,948.68 in the previous year[3]. - The net profit after deducting non-recurring gains and losses reached ¥90,978,148.49, marking a 115.91% increase from ¥42,136,412.40 year-on-year[3]. - The basic earnings per share for Q1 2021 was ¥0.0313, up 69.19% from ¥0.0185 in the same quarter last year[3]. - The total operating revenue for Q1 2021 was CNY 850,409,236.71, an increase of 5.4% compared to CNY 806,511,539.65 in the same period last year[22]. - The net profit for Q1 2021 was CNY 61,407,803.65, representing a 49.3% increase from CNY 41,123,737.10 in Q1 2020[24]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥13,774,745,160.92, a decrease of 0.55% from ¥13,850,860,795.49 at the end of the previous year[3]. - The company's total liabilities were CNY 7,442,744,221.46, down from CNY 7,562,604,877.76, showing a reduction of about 1.6%[18]. - The total assets as of Q1 2021 were CNY 12,004,284,243.46, up from CNY 11,813,300,719.95 at the end of the previous year[22]. - The company's total liabilities increased to CNY 7,271,301,557.55 in Q1 2021, compared to CNY 7,011,696,171.29 in the same period last year[22]. - The company's total current liabilities were CNY 4,148,133,481.29, with other payables amounting to CNY 1,180,483,450.18[38]. Cash Flow - The net cash flow from operating activities was negative at -¥231,517,417.12, worsening by 33.41% compared to -¥173,539,303.47 in the previous year[3]. - The cash flow from operating activities resulted in a net outflow of -69,808,187.14 CNY, worsening from -44,688,223.64 CNY in the prior period[33]. - The total cash outflow from operating activities was 129,621,582.48 CNY, compared to 49,855,529.94 CNY in the previous period, indicating higher operational costs[33]. - The company received cash from financing activities amounting to ¥97,000,000.00, reflecting new investments from minority shareholders[31]. - The net cash flow from financing activities was 350,741,373.95 CNY, compared to a negative cash flow of -138,687,164.21 CNY in the previous period, indicating a significant improvement[32]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 144,218, with the top ten shareholders holding significant stakes[7]. - The largest shareholder, CITIC Agricultural Technology Co., Ltd., held 16.54% of the shares, amounting to 217,815,722 shares[7]. - The equity attributable to shareholders of the parent company increased to CNY 5,528,993,680.03 from CNY 5,510,651,560.96, a growth of approximately 0.3%[19]. Research and Development - Research and development expenses rose by 59.46% to CNY 24.80 million, driven by increased spending on experimental demonstration projects[10]. - The R&D expenses for Q1 2021 amounted to CNY 24,804,284.85, which is a significant increase of 59.5% compared to CNY 15,555,555.45 in the same quarter last year[23]. - Research and development expenses for the current period were ¥715,568.33, significantly higher than ¥74,173.47 in the previous period, indicating increased focus on innovation[27]. Investment and Financial Management - The company reported a 70.70% reduction in investment losses, with losses from equity method investments decreasing significantly[10]. - The company's financial expenses decreased by 54.73% to CNY 54.18 million, attributed to reduced foreign exchange losses and lower loan interest rates[10]. - The financial expenses for Q1 2021 were CNY 54,182,776.13, a decrease of 54.7% from CNY 119,692,041.54 in Q1 2020[23]. - The company did not engage in any securities or derivative investments during the reporting period[13][14]. Government Support - The company received government subsidies amounting to ¥5,455,830.68 during the reporting period, which are closely related to its business operations[4].

Research and Development - The company reported a significant focus on the research and development of new seed varieties, which is critical for maintaining competitiveness in the market[4] - The company is committed to continuous innovation in breeding technology to enhance the efficiency of new crop varieties[4] - The company is investing in R&D for new agricultural technologies, with a budget allocation of 100 million yuan for the upcoming fiscal year[12] - The company aims to enhance its research and development capabilities by expanding its team and improving its biotechnological platforms[27] - The company has established a breeding research base covering nearly 10,000 acres, with over 300,000 breeding combinations annually for rice and corn[36] - The company has developed a total of 1,459 rice varieties and conducted 2,484 corn variety tests during the reporting period[36] - The company’s new product testing and evaluation process includes a "pre-test + regional test + ecological test" approach, ensuring timely market adaptation[29] - The company’s research and development output efficiency improved by 15%, enhancing its competitive edge in crop breeding innovation[41] - Research and development expenses rose to CNY 193,000,615.15, marking an 18.68% increase compared to the previous year, primarily due to higher personnel costs[63] - The total R&D investment was CNY 346,016,389.96, which accounted for 10.52% of the operating revenue, down from 13.15% in the previous year[65] Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan, representing a 20% growth year-over-year[12] - The company’s operating revenue for 2020 was CNY 3,290,527,650.55, representing a 5.14% increase compared to CNY 3,129,540,711.87 in 2019[15] - The net profit attributable to shareholders for 2020 was CNY 115,902,867.85, a significant recovery from a loss of CNY 298,270,707.81 in 2019, marking a 139.44% improvement[15] - The net cash flow from operating activities reached CNY 1,365,237,767.04, a dramatic increase of 1,400.58% from CNY 90,980,471.46 in 2019[15] - The company reported a total revenue of approximately 1,001.98 million CNY, with a gross profit of around 715.63 million CNY, reflecting a strong performance in agricultural technology and seed sales[82] - The company achieved a net profit of approximately 172.31 million CNY, indicating a significant increase compared to previous periods[82] - The company reported a net profit of ¥115,902,867.85 for the year 2020, with a cash dividend amount of ¥0.00, resulting in a cash dividend payout ratio of 0.00%[92] Market Strategy and Expansion - The company plans to not distribute cash dividends or bonus shares, indicating a focus on reinvestment[4] - Market competition remains intense, with a need for timely production and sales alignment to avoid excess inventory[4] - Market expansion plans include entering two new provinces, which are projected to increase market share by 10%[12] - The company is considering strategic acquisitions to enhance its product portfolio, targeting a deal valued at approximately 500 million yuan[12] - The company is actively pursuing mergers and acquisitions to enhance its market position and expand its product offerings[110] - The company aims to become one of the top five seed companies globally by 2025, focusing on systematic management and market mechanisms[86] Sustainability and Social Responsibility - The company is focused on sustainability initiatives, with plans to reduce carbon emissions by 20% over the next five years[12] - The company has established a public welfare foundation to support farmers affected by natural disasters, demonstrating its commitment to social responsibility[43] - The company has helped farmers increase their income by nearly 30,000 RMB per acre over the past five years, totaling over 15 million RMB in cumulative income increase and an additional 80,000 tons of grain production[148] - The company has been responsible for over 1.2 million kilograms of national seed disaster relief reserves annually since 2008, making it one of the largest seed reserve companies in China[148] - The company has implemented a "disaster relief fund + industrial assistance" model to effectively combine short-term and long-term poverty alleviation strategies[151] Operational Efficiency - The company aims to improve operational efficiency, targeting a 5% reduction in costs through new technologies[12] - The implementation of an ERP system has streamlined operations across five major modules, significantly improving data accuracy and management efficiency[42] - The company has established a comprehensive agricultural service system to enhance its service to farmers and promote agricultural development[147] - The company has launched the "Cloud Smart Agriculture" online learning platform, which has reached over 4.5 million users and published over 13,798 pieces of information[147] Governance and Compliance - The company has established strict procedures for related party transactions to avoid any improper benefits[101] - The company has a clear policy for determining remuneration based on operational performance and performance assessment indicators[196] - The company has not reported any penalties from regulatory authorities for its directors and supervisors in the past three years[195] - The company has a structured approach to managing the remuneration of its board members and executives, ensuring compliance with relevant regulations[196] Challenges and Risks - The agricultural sector faces risks from natural disasters and pest outbreaks, which can directly impact seed yield and quality[4] - The company acknowledges the impact of the COVID-19 pandemic on its operations, although domestic recovery is underway[4] - The company is actively monitoring global pandemic developments, which may affect its short-term operations[4] - The company reported a decrease in revenue for the sunflower seed business in 2020 due to the impact of COVID-19, with actual revenue of 237.08 million CNY compared to the forecast of 243.08 million CNY[112] User Engagement and Market Presence - User data showed an increase in active users, reaching 5 million, which is a 15% increase compared to the previous year[12] - The company is committed to enhancing user engagement through improved data analytics and customer relationship management strategies[186] - The company is exploring partnerships with international agricultural firms to enhance its global reach and technological capabilities[192]

Financial Performance - Operating revenue for the reporting period was -¥187,682,430.01, a decline of 323.18% compared to the same period last year[3]. - Net profit attributable to shareholders of the listed company was -¥266,134,978.62, representing a decrease of 21.07% year-on-year[3]. - Basic earnings per share were -¥0.2056, a decrease of 20.59% year-on-year[3]. - The weighted average return on net assets was -4.47%, a decline of 0.70% compared to the previous year[3]. - The estimated cumulative net profit for the year is projected to be CNY 35 million, representing a 111.73% increase compared to the previous year's loss of CNY 298.27 million[19]. - Basic earnings per share are expected to reach CNY 0.027, an increase of 111.92% from the previous year's loss of CNY 0.2265[19]. - The improvement in performance is primarily attributed to the better operational status of the company's Brazilian affiliate, leading to a reduction in investment losses recognized under the equity method[19]. - The net profit for the third quarter was a loss of CNY 288,851,866.36, compared to a loss of CNY 353,421,954.77 in the previous year, showing an improvement of 18.3%[35]. - The total comprehensive income for the quarter was a loss of ¥453,205,707.42, compared to a loss of ¥225,970,714.08 in the previous year[42]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥14,918,662,596.91, a decrease of 3.72% compared to the previous year[3]. - Net assets attributable to shareholders of the listed company were ¥5,715,415,581.47, down 7.47% year-on-year[3]. - The company's total liabilities were CNY 8.69 billion as of September 30, 2020, compared to CNY 9.14 billion at the end of 2019, indicating a reduction of approximately 4.9%[28]. - The company's total assets decreased from CNY 13,103,282,375.79 to CNY 12,486,751,150.02, a reduction of about 4.7%[32]. - The total liabilities to equity ratio stands at approximately 1.29, suggesting a moderate level of financial leverage[56]. Cash Flow - The net cash flow from operating activities was ¥657,534,087.30, an increase of 57.77% compared to the same period last year[3]. - The net cash flow from operating activities surged by 329.82% to ¥688,076,561.58, driven by increased receivables and reduced procurement payments[12]. - Cash inflow from operating activities totaled 2,108,607,286.61 CNY, up from 1,907,018,144.61 CNY year-over-year, showing improved operational cash generation[46]. - The net cash flow from financing activities was -705,933,428.44 CNY, a decline from a positive net flow of 132,626,202.75 CNY in the previous year[47]. - The ending cash and cash equivalents balance was 1,473,574,462.39 CNY, down from 1,446,668,193.07 CNY in the previous year[47]. Shareholder Information - The top ten shareholders held a total of 66.54% of the shares, with the largest shareholder, CITIC Agricultural Technology Co., Ltd., holding 16.54%[7]. - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[9]. - The company has no overdue commitments from shareholders or related parties during the reporting period[14]. Investments and Financial Management - The company plans to raise up to ¥1.7 billion through a private placement to fund new projects, including seed processing and digital transformation initiatives[13]. - The company has invested CNY 10 million in bank wealth management products, with the entire amount still outstanding and no overdue amounts[21]. - The company has established a financial derivatives trading management system to mitigate foreign exchange market risks and reduce financial costs[17]. - The company is committed to conducting foreign exchange derivative transactions only with reputable financial institutions to avoid potential legal risks[17]. - The independent directors have approved the company's foreign exchange derivative trading activities, emphasizing compliance with laws and regulations[17]. Operational Changes - The company has implemented new revenue and leasing standards starting from 2020, necessitating adjustments to the financial statements[50]. - The company has not reported any significant changes in accounting policies or principles regarding derivative investments compared to the previous reporting period[18]. - The company has not disclosed any major contracts related to daily operations in this report[20].