Financial Performance - The company's operating revenue for Q3 2021 was ¥4,412,241,435.12, representing a 12.63% increase year-over-year, while the total revenue for the year-to-date reached ¥12,328,880,018.57, up 43.01% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was -¥434,255,970.41, a decrease of 167.45% year-over-year, with a year-to-date net profit of -¥192,859,153.56, down 113.05% compared to the previous year[5] - The total operating revenue for the third quarter reached ¥12,328,880,018.57, an increase of 43.5% compared to ¥8,620,752,350.59 in the same period last year[37] - The company reported a total operating profit (loss) of -36,727,106.21, a stark contrast to the previous operating profit of 1,540,695,224.14[40] - The net profit for the current period is -101,197,342.94, compared to a net profit of 1,514,841,362.12 in the previous period, indicating a significant decline[40] - The total comprehensive income attributable to the parent company owner was -158,326,403.58, compared to 1,477,586,003.68 in the previous period[43] - The basic earnings per share for the current period is -0.18, compared to 1.38 in the previous period, reflecting a decline in profitability[43] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was ¥3,629,302,404.17, reflecting a 73.01% increase compared to the same period last year[5] - The cash flow from operating activities netted 3,629,302,404.17, compared to 2,097,715,885.13 in the previous period, representing an increase of approximately 73.1%[44] - The company’s cash flow from investing activities showed a net outflow of -¥1,242,949,423.18, which was a 238.75% increase in outflow compared to the previous year[12] - The net cash flow from investing activities was -$1.24 billion, compared to -$366.92 million in the previous period[50] - The net cash flow from financing activities was -$1.57 billion, an increase from -$996.88 million year-over-year[50] Assets and Liabilities - Total assets at the end of Q3 2021 were ¥14,125,593,187.89, a decrease of 10.20% from the end of the previous year, while total equity attributable to shareholders was ¥5,633,414,175.65, down 9.63%[7] - The total assets increased to $15.87 billion, reflecting an adjustment of $142.70 million due to the new leasing standards[61] - The total liabilities rose to $9.00 billion, with a notable increase in non-current liabilities by $142.70 million[61] - Total liabilities decreased to ¥7,737,927,143.58 from ¥8,861,606,062.86, a reduction of 12.7%[35] - Shareholders' equity totaled ¥6,387,666,044.31, down from ¥6,867,687,523.05, reflecting a decrease of 7.0%[35] Shareholder Information - The total number of common shareholders at the end of the reporting period was 96,197[17] - The largest shareholder, Xinjiang Production and Construction Corps State-owned Assets Management Co., Ltd., holds 26.38% of shares, totaling 283,929,184 shares[17] - Beijing Rongyuan Baotong Asset Management Partnership holds 6.39% of shares, totaling 68,754,835 shares, with 10,669,513 shares frozen[17] - Xinjiang Tianbang Hongkang Venture Capital Partnership holds 5.81% of shares, totaling 62,580,733 shares[17] - Xinjiang Tianbang Hongkang Venture Capital Partnership holds 20,000,000 shares through a credit securities account[20] - He Sheng holds 4,700,000 shares through a credit securities account[20] Operational Metrics - The company reported a significant increase in accounts receivable, which rose by 72.87% to ¥552,992,588.27, attributed to expanded sales[10] - The company’s inventory decreased by 50.09% to ¥3,004,604,027.87, mainly due to seasonal sales patterns in agricultural products[13] - Total operating costs amounted to ¥12,249,517,556.23, up from ¥7,034,827,366.08, reflecting a significant increase in operational expenses[37] - Cash and cash equivalents increased to ¥3,011,280,484.53 from ¥2,067,234,276.03, representing a growth of 45.5% year-over-year[31] - Accounts receivable rose to ¥552,992,588.27, compared to ¥319,881,376.70, indicating a 72.8% increase[31] - Inventory decreased to ¥3,004,604,027.87 from ¥6,020,026,015.04, a decline of 50.2%[31] - Non-current assets totaled ¥6,170,481,378.89, up from ¥5,032,416,026.65, marking a growth of 22.6%[32] Expenses - The company’s management expenses increased by 44.15% to ¥585,539,002.30, driven by expanded operations and increased share-based payment amortization[12] - The company incurred financial expenses of 149,251,162.29, up from 124,754,901.05, indicating increased borrowing costs[40] - The company’s total tax expenses were 43,439,870.12, compared to 25,404,126.94 in the previous period, indicating higher tax liabilities[40] - Research and development expenses increased slightly to 103,198,682.12 from 102,620,466.88, showing a focus on innovation[40] Stock Issuance - The company received approval for a non-public stock issuance from the Xinjiang Production and Construction Corps State-owned Assets Supervision and Administration Commission on January 18, 2021[21] - The company’s non-public stock issuance application was accepted by the China Securities Regulatory Commission on February 22, 2021[22] - The non-public stock issuance application was approved by the China Securities Regulatory Commission on May 10, 2021[24] - The employee stock ownership plan's lock-up period expired on September 14, 2021, allowing for the release of shares[25] Market Strategy - The company is focusing on expanding its market presence and developing new products to drive future growth[39]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥7,916,638,583.45, representing a 68.32% increase compared to ¥4,703,279,226.34 in the same period last year[27]. - The net profit attributable to shareholders of the listed company decreased by 71.05% to ¥241,396,816.85 from ¥833,796,729.94 in the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥263,802,491.88, down 69.19% from ¥856,324,136.19 year-on-year[27]. - Basic earnings per share were ¥0.22, a decrease of 71.79% from ¥0.78 in the previous year[27]. - The company reported a significant decline in net profit attributable to shareholders, which was CNY 24,139.68 million, down 71.05% year-on-year[43]. - The company’s total profit decreased by 58.85% year-on-year, amounting to CNY 34,088.07 million[43]. Cash Flow and Assets - The net cash flow from operating activities increased by 137.66% to ¥2,907,019,096.74, compared to ¥1,223,192,384.23 in the same period last year[27]. - The company reported a net cash flow from operating activities of CNY 2,907,019,096.74, an increase of 137.66% year-on-year[50]. - Total assets at the end of the reporting period were ¥14,288,854,416.64, down 9.16% from ¥15,729,293,585.91 at the end of the previous year[27]. - The company’s cash and cash equivalents at the end of the reporting period were ¥1,782,457,686.98, down 0.67% from ¥2,067,234,276.03 at the end of the previous year[61]. - The company’s inventory amounted to ¥4,778,543,861.47, representing 33.44% of total assets, with a notable increase in sales of agricultural products[61]. Revenue Breakdown - The company achieved total operating revenue of CNY 791,663.86 million, a year-on-year increase of 68.32%[43]. - The company's feed business saw sales revenue of CNY 258,744.37 million, up 33.64% year-on-year, with sales volume increasing by 40.72% to 1.13 million tons[43]. - The company experienced a 32.71% increase in sales revenue from its pig farming business, totaling CNY 169,854.71 million, with pig sales volume rising by 73.18% to 736,200 heads[44]. - The corn storage industry saw a remarkable revenue increase of 411.14%, with current revenue at ¥2,097,709,983.03 compared to ¥410,397,105.73 last year[54]. - Revenue from the livestock breeding sector was ¥999,138,462.81, reflecting a 22.94% increase from ¥812,732,016.86 in the previous year[54]. Investment and R&D - The company’s R&D investment increased by 8.93% to CNY 63,474,905.90, reflecting its commitment to innovation[50]. - The company reported an investment amount of ¥1,015,539,562.90 for the current period, representing a 230.51% increase compared to ¥307,268,547.97 in the same period last year[66]. - The company invested over CNY 200 million in a high-level biosafety laboratory (P3) that has been completed and put into use[49]. Environmental and Social Responsibility - The company has established a robust biosecurity management system to mitigate risks associated with African swine fever, enhancing operational resilience[85]. - The company has implemented the HACCP management system to ensure food safety and maintain product quality standards[86]. - The company donated a total of 1.06 million milliliters of anthrax spore vaccine, 2 million milliliters of porcine epidemic diarrhea virus E2 protein recombinant inactivated vaccine, and 1 million milliliters of Mycoplasma pneumoniae inactivated vaccine, valued at 12.53 million yuan, for disaster relief efforts in Henan Province[118]. - The company emphasizes environmental protection and energy conservation, achieving good results in both environmental protection and cost savings through optimized energy-saving facilities[118]. Corporate Governance - The company has established a comprehensive governance structure, including a shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and mutual coordination[115]. - The company has implemented a robust investor relations management system, ensuring fair treatment of all shareholders and transparent information disclosure[115]. - The company held four shareholder meetings during the reporting period, with investor participation rates of 39.02%, 37.02%, 37.06%, and 37.42% respectively[90]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 98,385, with significant shareholders including Xinjiang Production and Construction Corps holding 26.38%[181]. - The largest shareholder, Xinjiang Production and Construction Corps, held 283,929,184 shares, representing 26.38% of the total shares[189]. - The company reported no new strategic investors or significant changes in shareholder relationships during the period[184]. - The total number of shares at the end of the reporting period was 1,076,289,704, with 100% being unrestricted shares[178]. Guarantees and Financial Commitments - The company has engaged in multiple guarantees with a focus on agricultural and food-related companies, indicating a strategic emphasis on this sector[150][152]. - The total guarantee amount approved during the reporting period was CNY 45,400,000, with actual guarantees amounting to CNY 452,397,000[162]. - The actual guarantee amount accounted for 22.03% of the company's net assets[162]. - The company has not engaged in related party guarantees, suggesting a focus on independent financial transactions[150][152].

天康生物 | --- | --- | --- | --- | |-----------------------------------------------------|--------------------------|--------------------------------------------------------------------------|------------------------------------------| | | | | | | 证券代码： | 002100 | 证券简称：天康生物 | | | 债券代码： | 128030 | 债券简称：天康转债 | 公告编号： 2021-045 | | | | 天康生物股份有限公司 | | | | 关于参加 | 2021 年新疆辖区投资者网上集体接待日 | | | | | 暨上市公司业绩说明会活动的公告 | | | | | 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 | | | 记载、误导性陈述或者重大遗漏。 | | | | | | | 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 ...

Financial Performance - The company's operating revenue for Q1 2021 was ¥3,339,230,680.67, representing a 68.35% increase compared to ¥1,983,537,035.47 in the same period last year[10] - The net profit attributable to shareholders for Q1 2021 was ¥301,009,811.74, a decrease of 10.03% from ¥334,552,715.62 in the previous year[10] - The basic earnings per share for Q1 2021 was ¥0.28, down 9.68% from ¥0.31 in the previous year[10] - Total revenue for Q1 2021 reached ¥3,339,230,680.67, a 68.35% increase compared to ¥1,983,537,035.47 in Q1 2020[26] - The company reported a net profit of ¥3,752,507,965.00 in retained earnings, an increase from ¥3,451,498,153.26[87] - The company reported a basic earnings per share of CNY 0.28, down from CNY 0.31 in the previous period[104] - Total comprehensive income for the current period is CNY 312,204,675.61, compared to CNY 325,628,705.24 in the previous period[105] Cash Flow - The net cash flow from operating activities increased by 14.57% to ¥585,028,585.93, compared to ¥510,611,919.66 in the same period last year[10] - Cash inflow from sales of goods and services reached ¥3,460,169,194.57, compared to ¥1,948,361,985.47 in the previous period, reflecting a significant increase of about 77.4%[113] - The net cash flow from operating activities was ¥585,028,585.93, up from ¥510,611,919.66 in the previous period, indicating a growth of approximately 14.5%[117] - The cash outflow for operating activities totaled ¥2,939,327,673.64, which is an increase from ¥1,578,966,528.20 in the previous period[117] - The net cash flow from financing activities was -¥583,151,019.49, worsening from -¥208,493,509.37 in the previous period[120] - The cash and cash equivalents at the end of the period were ¥1,732,129,657.41, down from ¥2,140,851,075.19 in the previous period, a decrease of approximately 19.0%[120] Assets and Liabilities - The total assets at the end of the reporting period were ¥15,942,521,786.11, a 1.36% increase from ¥15,729,293,585.91 at the end of the previous year[10] - The company's total current assets as of March 31, 2021, amounted to CNY 10.55 billion, a decrease from CNY 10.70 billion as of December 31, 2020[78] - The total liabilities decreased from CNY 4.76 billion to CNY 3.65 billion in the short-term borrowings category[81] - The company's fixed assets increased to CNY 3.87 billion from CNY 3.67 billion year-over-year[81] - The total assets of the company as of March 31, 2021, amounted to ¥8,034,771,704.95, up from ¥6,776,261,850.26 at the end of the previous year[94] - The total liabilities decreased to ¥3,770,170,582.67 from ¥3,004,931,418.58, indicating a reduction in financial obligations[94] - The company’s total current liabilities increased to ¥2,271,306,906.43 from ¥1,656,802,618.30, indicating a rise in short-term financial obligations[93] Investments and Financing - The company reported a total fundraising amount of RMB 1,000,000,000 from the issuance of 10 million convertible bonds, with a net amount of RMB 981,550,400 after deducting fees[63] - The company received ¥985,000,000.00 in borrowings during the current period, a significant increase from ¥20,000,000.00 in the previous period[120] - The company’s investment activities generated a cash outflow of ¥220,175,569.00, a 1065.11% increase, mainly due to larger investments in feed and breeding businesses[28] - The total cash outflow for investment activities was ¥220,175,569.00, compared to ¥97,475,700.00 in the previous period, indicating a substantial increase in investment expenditures[117] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 102,937[15] - The company’s equity attributable to shareholders increased to ¥4,264,601,122.28, compared to ¥3,771,330,431.68 in the previous year[94] - The company’s total equity increased to ¥7,214,422,701.14 from ¥6,867,687,523.05, reflecting a positive trend in shareholder value[87] Operational Costs and Expenses - Operating costs rose by 87.73% to ¥2,566,093,399.28, attributed to increased sales volume and cost recognition[26] - Sales expenses increased by 121.39% to ¥152,881,230.63, reflecting higher sales and transportation costs due to expanded sales activities[26] - The company reported a 161.50% increase in income tax expenses to ¥13,843,938.13, due to a higher tax rate for the newly established pharmaceutical company[26] - The company recorded a tax expense of CNY 13,843,938.13, up from CNY 5,294,011.26 in the previous period[102] Risk Management and Compliance - The company has implemented strict internal controls and risk management measures for its futures trading activities[42] - The company has not engaged in any entrusted financial management during the reporting period[70] - There were no violations regarding external guarantees during the reporting period[71] - The company has not reported any litigation related to its derivative investments[39]

Financial Performance - In 2020, TianKang Bio achieved a total revenue of 11.987 billion RMB and a profit of 1.72 billion RMB, exceeding the strategic goals set for 2018-2020[4] - The company's operating revenue for 2020 was ¥11,986,808,944.23, representing a 60.33% increase compared to ¥7,476,316,392.02 in 2019[36] - The net profit attributable to shareholders for 2020 was ¥1,720,414,461.95, a significant increase of 166.94% from ¥644,486,713.22 in 2019[36] - The basic earnings per share for 2020 was ¥1.61, up 168.33% from ¥0.60 in 2019[36] - The total assets at the end of 2020 were ¥15,729,293,585.91, which is a 41.01% increase from ¥11,154,464,066.40 at the end of 2019[36] - The company reported a weighted average return on equity of 31.86% for 2020, an increase of 15.03% from 16.83% in 2019[36] - The revenue for the fourth quarter of 2020 was ¥3,366,056,593.64, with a net profit attributable to shareholders of ¥242,828,458.27[41] - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching ¥1,727,832,489.76 in 2020, up 171.67% from ¥636,015,341.32 in 2019[36] Business Segments - The pharmaceutical business saw significant growth, with over 100 million RMB invested in R&D in 2020 alone, contributing to the development of 5 new veterinary drug certificates and 51 authorized patents over three years[5] - The feed business grew by 43.83% in 2020, with the Northwest region experiencing a remarkable growth of 54%[7] - The food breeding business successfully increased pig output and profitability despite challenges from dual epidemics, focusing on innovative business models[7] - The agricultural products segment established strategic partnerships with leading corn processing companies, achieving revenue growth while ensuring feed and breeding business needs[8] - The feed business targets a production and sales volume of 5 million tons, with projected revenue of 13 billion RMB and a profit of 400 million RMB[9] - The protein and oil business is projected to process 500,000 tons of cottonseed, generating 1 billion RMB in revenue and 50 million RMB in profit[12] Strategic Goals - The new three-year strategic plan (2021-2023) aims for overall revenue exceeding 30 billion RMB and a profit total of 3 billion RMB by the end of 2023[9] - The company aims to become a leading health farming service provider and safe food supplier in China, achieving a complete industrial chain from breeding to processing and sales, including animal vaccines, feed, and meat products[49] Research and Development - The company invested over CNY 200 million in a high-level biosafety laboratory (P3) completed in 2020[63] - The company has established two R&D centers in Xinjiang and Shanghai, employing nearly 200 specialized R&D personnel[63] - The company has obtained 18 national new veterinary drug certificates and over 60 patents, showcasing its strong R&D capabilities[63] - The company is developing a dual-inactivated vaccine for porcine circovirus type 2 and Mycoplasma pneumonia, which is expected to enhance immunity and reduce stress during vaccination[90] - The company is also working on a genetically engineered subunit vaccine for porcine pleuropneumonia, which has shown effective immunity for up to six months[90] - A bivalent synthetic peptide vaccine for foot-and-mouth disease has been developed, demonstrating good safety and stable immune response[90] Cash Flow and Investments - The net cash flow from operating activities for 2020 was negative at -¥600,857,389.57, a decline of 295.73% compared to ¥306,979,542.98 in 2019[36] - Operating cash inflow totaled ¥12,540,633,977.48 in 2020, a 61.26% increase from ¥7,776,773,079.95 in 2019[98] - Operating cash outflow increased to ¥13,141,491,367.05 in 2020, a 75.93% rise from ¥7,469,793,536.97 in 2019[98] - The company has ongoing significant non-equity investments, including ¥75,739,644.03 in a veterinary drug project, with a completion rate of 89.46%[110] Market Trends and Challenges - The animal vaccine industry is expected to grow due to stricter regulations and the transition to a "no antibiotic" era in livestock farming, which will increase the market share for bacterial vaccines[146] - The company anticipates opportunities in the market for multi-valent and multi-combined vaccines as the industry shifts towards these products[146] - The company aims to leverage the increasing emphasis on disease prevention in livestock farming to drive future growth in its veterinary drug sales[146] - The company has faced challenges in project completion due to the impact of African swine fever and COVID-19, affecting the overall timeline and expected returns[126] Subsidiaries and Acquisitions - The company has established several new subsidiaries during the reporting period, including TianKang Pharmaceutical (Suzhou) Co., Ltd. and TianKang Biological Pharmaceutical Co., Ltd., which are now included in the consolidated scope[82] - The company has made strategic acquisitions, including Ningxia Changxin Agricultural Development Co., Ltd. and Ningxia Xinchang Logistics Co., Ltd., which are now part of the consolidated scope[82] Dividend Policy - In 2020, the company distributed cash dividends of 4.6 yuan per 10 shares, with no capital reserve transfer to share capital[163] - The cash dividend amount for 2020 was CNY 494,568,934.22, representing 28.75% of the net profit attributable to ordinary shareholders[164] - The total cash dividend (including other methods) for 2020 accounted for 100% of the distributable profit of CNY 955,000,469.25[169] - The company is in a growth phase and has significant capital expenditure plans, with a minimum cash dividend ratio of 20% during profit distribution[169] Compliance and Governance - The company has committed to maintaining independent management and compliance with relevant laws and regulations[170] - The company has not reported any significant non-operating fund occupation by controlling shareholders during the reporting period[179] - The company has engaged CITIC Securities as a sponsor for its non-public stock issuance, following the termination of the previous agreement with Great Wall Securities[185]

Financial Performance - Operating revenue for the period reached CNY 3,917,473,124.25, a 58.88% increase compared to the same period last year[10] - Net profit attributable to shareholders surged by 190.40% to CNY 643,789,273.74[10] - Basic earnings per share rose by 160.87% to CNY 0.60[10] - The company reported a net profit of CNY 1,477,586,003.68 for the year-to-date, reflecting a 389.75% increase compared to the same period last year[10] - Operating revenue rose by 66.43% to CNY 8,620,752,350.59 from CNY 5,179,810,282.95, driven by rising pig prices and increased sales in corn storage and feed business[28] - Net profit attributable to the parent company surged by 389.75% to CNY 1,477,586,003.68 from CNY 301,704,024.67, influenced by higher profitability in pharmaceutical products and feed business[31] - The total comprehensive income for the period reached ¥1,514,841,362.12, compared to ¥232,156,798.82 in the previous period[104] - The net profit attributable to the parent company was ¥1,477,586,003.68, an increase from ¥301,704,024.67 year-over-year[104] Assets and Liabilities - Total assets increased by 8.26% to CNY 12,075,369,583.87 compared to the end of the previous year[10] - The company’s cash and cash equivalents increased by 36.20% to CNY 2,725,948,476.64 from CNY 2,001,458,308.06 due to expanded asset scale and improved sales recovery in corn storage and oil business[28] - Total liabilities decreased to approximately ¥5.47 billion, down 8.6% from ¥5.99 billion[77] - Total assets reached approximately ¥12.08 billion, an increase of 8.2% from ¥11.15 billion[75] - Total liabilities reached approximately ¥5.99 billion, with current liabilities at ¥4.30 billion and non-current liabilities at ¥1.69 billion[132] Cash Flow - Cash flow from operating activities increased slightly by 0.29% to CNY 874,523,500.90[10] - The net cash flow from operating activities increased by 48.33% to CNY 2,097,715,885.13 from CNY 1,414,261,767.27, attributed to better cash recovery from sales[31] - The net cash flow from operating activities was ¥8,286,840,440.93, compared to ¥5,048,448,839.95 in the previous period, showing a growth of approximately 63.4%[114] - The total cash outflow from operating activities amounted to 6,189,124,555.80 CNY, up from 3,634,187,072.68 CNY, indicating a significant increase in operational expenses[116] Research and Development - Research and development expenses increased by 74.97% to CNY 102,620,466.88 from CNY 58,650,940.05, reflecting a higher investment in R&D activities[31] - Research and development expenses increased to ¥44,347,580.79 from ¥10,252,871.00, representing a rise of 333.5% year-over-year[88] - Research and development expenses increased to ¥32,054,894.16, compared to ¥14,014,921.70, marking a growth of 128.7%[93] Shareholder Equity - Net assets attributable to shareholders increased by 30.22% to CNY 5,980,766,651.11 year-on-year[10] - Shareholders' equity increased to approximately ¥6.60 billion, up 27.8% from ¥5.16 billion[79] - The company's equity totaled approximately ¥5.16 billion, with total equity attributable to shareholders at approximately ¥4.59 billion[132] Investment and Financing - The company raised a total of RMB 1,000,000,000.00 from the issuance of 10 million convertible bonds, with a net amount of RMB 981,550,400.00 after deducting fees[60] - The company reported a derivative investment amount of RMB 1,890,500.00, with a year-end net asset ratio of 0.11%[38] - The company has a long-term loan of approximately $1.31 billion and bonds payable of about $184 million[137] Operational Efficiency - The company’s management expenses increased by 63.33% to CNY 406,209,311.65 from CNY 248,697,195.18, driven by expanded operations and increased personnel costs[31] - The company reported a financial expense of ¥2,683,981.61, a decrease from ¥16,893,187.34, indicating a reduction of 84.1%[93] Market Strategy - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[76] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[87] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[100]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥4,703,279,226.34, representing a 73.29% increase compared to ¥2,714,170,240.43 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached ¥833,796,729.94, a significant increase of 942.09% from ¥80,011,586.86 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥856,324,136.19, up 1,063.01% from ¥73,630,128.00 in the same period last year[23]. - The net cash flow from operating activities was ¥1,223,192,384.23, an increase of 125.58% compared to ¥542,238,516.56 in the previous year[23]. - Basic earnings per share increased to ¥0.78, up 875.00% from ¥0.08 in the same period last year[23]. - The diluted earnings per share was ¥0.77, reflecting an increase of 862.50% from ¥0.08 in the previous year[23]. - The weighted average return on equity rose to 16.64%, up 14.21% from 2.43% in the previous year[23]. - The company achieved total revenue of CNY 4,703.28 million, a year-on-year increase of 73.29%[47]. - The net profit attributable to shareholders reached CNY 833.80 million, up 942.09% compared to the previous year[47]. Business Segments - The feed business generated sales revenue of CNY 1,936.17 million, an increase of 47.89% year-on-year, with sales volume growing by 29.52% to 803,000 tons[47]. - The company's pig farming business reported sales revenue of CNY 1,279.91 million, a significant increase of 167.05% year-on-year, with pig output rising by 4.22% to 425,100 heads[48]. - The pharmaceutical business saw sales revenue of CNY 360.36 million, reflecting a year-on-year growth of 39.75% due to increased government subsidies and higher vaccine prices[48]. - The revenue from the food farming sector surged by 167.05% to ¥1,279,909,931.87, up from ¥479,272,667.52, reflecting a substantial increase in pig prices[58]. - The corn storage business revenue increased by 184.24% to ¥410,397,105.73 from ¥144,383,232.32, showcasing strong market demand[58]. Assets and Investments - Total assets at the end of the reporting period were ¥11,106,418,614.82, a slight decrease of 0.43% from ¥11,154,464,066.40 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company increased by 15.17% to ¥5,289,743,746.19 from ¥4,592,802,200.06 at the end of the previous year[23]. - Long-term equity investments increased by 2.39% compared to the end of the previous year, primarily due to changes in investments in associated companies[40]. - Fixed assets grew by 5.20% year-on-year, mainly due to the completion of construction projects such as the 200,000-head fattening farm[40]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,977,325,644, accounting for 17.80% of total assets, a decrease of 5.48% compared to the previous year[66]. - Inventory increased to ¥3,060,637,870, representing 27.56% of total assets, an increase of 4.46% year-on-year due to expanded operational scale[66]. Financial Management - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company reported a significant increase in sales expenses, which rose by 21.15% to ¥216,844,994.81 due to business expansion and changes in transportation methods[54]. - The company's financial expenses increased by 13.14% to ¥94,409,030.40, attributed to increased bank loans for business expansion[54]. - The net increase in cash and cash equivalents was negative at -¥17,881,296.64, a decline of 138.36% compared to an increase of ¥46,613,925.35 in the previous year, mainly due to reduced cash flow from financing activities[54]. Project Investments - The company has cumulative raised funds of ¥981,550,400, with ¥56,951,260 already utilized by June 30, 2020[80]. - The company has decided to terminate the "High-tech Zone North Pharmaceutical Industrial Park Phase II Project" to focus on other projects due to changes in market conditions and strategic needs[84]. - The company aims to improve the efficiency of fund usage and accelerate project implementation to gain market share and competitive advantage[84]. - The "Animal Biosecurity Level 3 Upgrade Project" has a total committed investment of CNY 167.22 million, with CNY 31.58 million invested, achieving 50.56% progress[81]. - The "Gansu Yongchang Pig Farm Phase I Project" has a total committed investment of CNY 90 million, with CNY 15.75 million invested, achieving 80.08% progress[81]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 55,685[186]. - The largest shareholder, Xinjiang Production and Construction Corps State-owned Assets Management Co., held 26.44% of shares, totaling 283,929,184 shares[191]. - The total shares held by the top ten unrestricted common shareholders amounted to 1,000,000,000 shares[191]. - The company did not experience any changes in its controlling shareholder during the reporting period[195]. - The company reported no preferred shares in the reporting period[199]. Compliance and Governance - The company has maintained its independence and compliance with relevant laws and regulations throughout the reporting period[119]. - The company has not undergone any bankruptcy restructuring during the reporting period[128]. - There were no significant litigation or arbitration matters during the reporting period[128]. - The company has implemented an employee stock ownership plan, approved in meetings held on May 29 and June 15, 2020[132]. - The half-year financial report has not been audited[125].

Financial Performance - The company's operating revenue for Q1 2020 was ¥1,983,537,035.47, representing a 64.63% increase compared to ¥1,204,813,855.90 in the same period last year[10] - Net profit attributable to shareholders was ¥334,552,715.62, a significant increase of 1,056.82% from ¥28,920,108.83 in the previous year[10] - Basic earnings per share were ¥0.31, up 933.33% from ¥0.03 in the same period last year[10] - The net profit attributable to the parent company reached CNY 334.55 million, reflecting a year-on-year growth of 1056.82%, driven by a significant increase in pork prices in the national market[23] - Net profit for Q1 2020 reached CNY 325,628,705.24, compared to a mere CNY 24,117.73 in Q1 2019, indicating a substantial improvement in profitability[69] - Total comprehensive income attributable to the parent company is ¥334,552,715.62, up from ¥28,920,108.83, showing a remarkable increase[72] Cash Flow - The net cash flow from operating activities reached ¥510,611,919.66, marking a 421.58% increase from ¥97,896,377.87 in the same period last year[10] - The net cash flow from operating activities was 307,431,927.32, a significant improvement compared to -9,605,854.12 from the previous period[87] - Cash inflow from operating activities totaled 382,316,072.17, down 22.6% from 494,327,854.80 in the prior period[87] - The net cash flow from investing activities was 23,041,892.88, a recovery from -315,436,767.52 in the prior period[90] - The company reported a cash increase of 283,220,985.13 during the period, compared to 174,908,275.25 in the previous period[86] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,609,154,321.49, an increase of 4.08% from ¥11,154,464,066.40 at the end of the previous year[10] - The total liabilities of the company reached CNY 6.09 billion, compared to CNY 5.99 billion, marking an increase of approximately 1.67%[51][54] - Total liabilities amounted to CNY 5,989,645,710.31, with current liabilities at CNY 4,300,955,352.67 and non-current liabilities at CNY 1,688,690,357.64[97] - The company's total equity was CNY 5,164,818,356.09, with equity attributable to shareholders of the parent company at CNY 4,592,802,200.06[97] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,925[14] - The largest shareholder, Xinjiang Production and Construction Corps, held 26.58% of the shares[14] Research and Development - Research and development expenses increased by 74.47% year-on-year to CNY 22.02 million, indicating a stronger focus on R&D investment[22] - Research and development expenses for Q1 2020 were CNY 22,020,019.72, compared to CNY 12,620,993.58 in the previous year, highlighting an increased focus on innovation[66] - Research and development expenses increased significantly to ¥18,139,174.00, up from ¥10,086,016.17, marking an increase of about 80.2%[73] Financial Management - The company's financial expenses increased by 30.09% year-on-year to CNY 55.08 million, primarily due to a rise in loan balances[22] - The company incurred financial expenses of ¥15,000,078.63, down from ¥16,753,346.01, which is a decrease of approximately 10.5%[73] Operational Highlights - The company's operating revenue for the reporting period was CNY 1,983.54 million, an increase of 64.63% year-on-year, primarily due to higher sales prices in the food farming business and expanded sales in the feed business[22] - Total operating costs for Q1 2020 were CNY 1,619,680,424.18, up from CNY 1,184,475,340.91, reflecting a significant increase in operating expenses[66] - The company reported a gross profit margin improvement, with gross profit for Q1 2020 at CNY 613,856,611.29, compared to CNY 219,281,515.99 in Q1 2019[66] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[60] - The company is implementing new revenue and leasing standards starting in 2020, which may impact future financial reporting[102]

Financial Performance - By the end of 2023, the company plans to achieve feed production and sales of 3 million tons, with a sales revenue of 9 billion RMB[6]. - The company aims to have a breeding stock of 200,000 to 250,000 sows and an annual output of 4 million pigs, generating sales revenue of 10 billion RMB by 2023[7]. - The biopharmaceutical business is projected to achieve sales revenue of 2 billion RMB by 2023, positioning the company among the top three in the domestic animal health industry and top ten globally[10]. - The company plans to process 1 million tons of cottonseed, generating 2.5 billion RMB in revenue by 2023, aiming to become the leading brand in high-protein cotton meal[10]. - The corn storage and sales business targets 3 million tons with a revenue of 6.5 billion RMB by 2023, focusing on high-quality grain supply in the Northwest region[10]. - The company's operating revenue for 2019 was ¥7,476,316,392.02, representing a 41.78% increase compared to ¥5,273,032,350.33 in 2018[33]. - The net profit attributable to shareholders for 2019 was ¥644,486,713.22, which is a 105.43% increase from ¥313,726,252.74 in 2018[33]. - The net cash flow from operating activities improved to ¥306,979,542.98 in 2019, a significant recovery from a negative cash flow of ¥1,178,441,646.71 in 2018, marking a 126.05% increase[33]. - Basic earnings per share for 2019 rose to ¥0.60, an 81.82% increase from ¥0.33 in 2018[33]. - Total assets at the end of 2019 were ¥11,154,464,066.40, up 31.09% from ¥8,508,742,207.44 at the end of 2018[36]. - The net assets attributable to shareholders increased by 43.10% to ¥4,592,802,200.06 at the end of 2019, compared to ¥3,209,604,751.62 at the end of 2018[36]. - The company reported a quarterly revenue of ¥2,465,640,042.52 in Q3 2019, which was the highest quarterly revenue for the year[39]. - The company received government subsidies amounting to ¥17,195,351.30 in 2019, slightly down from ¥19,967,775.21 in 2018[40]. - The company achieved total operating revenue of CNY 747,631.64 million, a year-on-year increase of 41.78%[63]. - Net profit attributable to shareholders reached CNY 64,448.67 million, reflecting a growth of 105.43% compared to the previous year[63]. - The feed business generated sales revenue of CNY 293,077.24 million, up 14.39% year-on-year, accounting for 39.20% of total revenue[63]. - The pharmaceutical business saw a decline in sales revenue to CNY 55,519.23 million, down 25.96% year-on-year, representing 7.43% of total revenue[64]. - Revenue from pig farming and food processing surged to CNY 164,412.01 million, a 92.34% increase year-on-year, making up 21.99% of total revenue[64]. - The company reported a comprehensive gross profit margin of 24.99%, an increase of 4.02 percentage points year-on-year[65]. Investment and Expansion - The company plans to invest in talent acquisition, information technology application, and compliance management to strengthen operational capabilities across business segments[11]. - The company expanded its consolidation scope by acquiring several agricultural companies in Xinjiang, enhancing its market presence[86]. - The company has made a significant equity investment of ¥14,922,300.00 in Xinjiang Tofeng Glacier Animal Husbandry Co., Ltd., acquiring a 35.48% stake[118]. - The ongoing major non-equity investment project, the upgrade of the veterinary biological safety level three protection project, has an actual investment of ¥122,678,020.95, with 66% project completion[119]. - The total investment amount for the reporting period was ¥1,354,728,203.71, representing a 126.26% increase compared to ¥598,741,419.38 in the same period last year[115]. - The company has initiated a biosecurity upgrade project with a planned investment of 16,722, and an actual investment of 5,296.64, achieving 31.67% of the planned investment[131]. - The company is focusing on expanding its pig farming operations in Gansu province to meet market demand due to the exit of smaller farmers[127]. - The company aims to enhance the efficiency of fund utilization to support its current development needs[127]. - The company has decided to terminate certain projects to better align with its strategic goals and improve investment efficiency[127]. - The company plans to construct a modern pig breeding farm in Xinjiang with a capacity of 10,000 parent pigs, divided into two phases of 4,800 pigs each[136]. - The total investment for the Xinjiang modern pig breeding farm project is approximately 1,475.68 million yuan, representing a 14.76% increase in project scale[138]. Research and Development - The company has a strong focus on R&D, with a recognized technology center and a commitment to enhancing innovation capabilities[63]. - The company is developing a dual inactivated vaccine for porcine circovirus type 2 and Mycoplasma pneumonia, which has shown high antigen expression and safety[95]. - The company has received approval for clinical trials of a new vaccine for foot-and-mouth disease, demonstrating effective immune response in trials[100]. - The company increased its R&D personnel from 203 to 388, a growth of 91.13% year-over-year[106]. - R&D investment amounted to ¥93,227,327.86 in 2019, representing a 5.71% increase from ¥88,192,934.83 in 2018[106]. - The company is developing a dual vaccine for small ruminant plague and goat pox, which is the first of its kind in China and internationally[102]. - The dual inactivated vaccine for small ruminant plague and goat pox is currently under registration, with safety improvements noted due to the use of cell culture for antigen production[103]. - The company plans to enhance its investment in disease prevention measures in response to the increasing demand for animal vaccines[151]. Market Trends and Challenges - The animal vaccine market in China is projected to grow from 242 billion CNY in 2018 to approximately 346 billion CNY by 2023, indicating a compound annual growth rate of about 8%-12%[150]. - The company anticipates that the commercialization of African swine fever vaccines will significantly boost the pig vaccine market, potentially doubling its scale[151]. - The feed industry is expected to see a significant increase in concentration, with a projected annual growth rate of 2.1%, reaching an industrial feed consumption of 28,053 million tons by 2029[155]. - The top three domestic pig farming companies hold market shares of 3.2%, 1.6%, and 0.8%, indicating substantial room for growth in market concentration[156]. - The company is focusing on expanding its market presence in the animal vaccine sector, driven by government policies promoting mandatory immunization[151]. - The company is responding to the African swine fever outbreak by expanding its scale and improving biosecurity measures, positioning itself to capture market share from exiting small and medium-sized farmers[134]. Corporate Governance and Compliance - The company committed to avoiding any business competition with its controlling shareholder, ensuring no similar business operations will be conducted post-transaction[177]. - The company guarantees that related party transactions will be minimized and conducted in compliance with legal regulations, ensuring no illegal occupation of funds or assets[177]. - The company has maintained a consistent cash dividend policy over the past three years, with dividends paid in 2017, 2018, and 2019[170]. - The company plans to distribute no less than 10% of its distributable profits as cash dividends annually over the next three years, with potential increases if net profits continue to grow[180]. - The company will actively pursue cash profit distribution in the next three years, adhering to relevant laws and regulations[180]. - The company has implemented new financial instrument accounting standards starting January 1, 2019, affecting the presentation of financial statements[184]. - The company did not experience any major accounting errors that required retrospective restatement during the reporting period[192]. - There were no significant lawsuits or arbitration matters reported during the period[198]. - The company did not face any situations that could lead to suspension or termination of its listing[197].

Financial Performance - Operating revenue for the reporting period was ¥2,465,640,042.52, representing a year-on-year increase of 73.06%[10] - Net profit attributable to shareholders was ¥221,692,437.81, up 46.57% from the same period last year[10] - Basic earnings per share increased to ¥0.23, reflecting a growth of 43.75% compared to the previous year[10] - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of ¥219,135,218.04, up 45.84% year-on-year[10] - Total operating revenue for Q3 2019 reached ¥2,465,640,042.52, a significant increase of 73.1% compared to ¥1,424,735,670.05 in the same period last year[61] - Net profit for Q3 2019 was ¥203,663,575.62, up 36.8% from ¥148,894,233.99 in Q3 2018[63] - The net profit attributable to the parent company was ¥301,704,024.67, an increase of 16.4% from ¥259,315,165.73 in the previous period[80] - The total comprehensive income attributable to the parent company increased to ¥301,704,024.67 from ¥259,315,165.73, a growth of 16.4%[84] Assets and Liabilities - Total assets at the end of the reporting period reached ¥8,939,886,091.88, an increase of 5.07% compared to the end of the previous year[10] - Total current assets decreased to ¥4,969,829,014.21 from ¥5,857,658,521.18, a decline of approximately 15.1% year-over-year[44] - Total liabilities decreased to ¥4,605,194,844.18 from ¥5,229,930,251.35, a decline of about 11.9%[49] - The company's total liabilities increased to ¥3,442,452,421.37, compared to ¥3,118,704,637.60 in the previous year, reflecting a growth of 10.4%[60] - The company's total assets reached ¥6,519,472,692.73, up from ¥5,747,209,589.20, indicating a growth of 13.4% year-over-year[60] - Long-term borrowings increased to ¥1,871,000,000.00 from ¥600,000,000.00, marking an increase of approximately 211.8%[49] - The company reported a total equity of CNY 3,278,811,956.09, including CNY 1,441,418,870.28 in undistributed profits[112] Cash Flow - Net cash flow from operating activities surged to ¥872,023,250.70, a dramatic increase of 1,976.59% year-on-year[10] - Cash flow from operating activities increased to ¥4,929,708,187.66, up from ¥3,153,380,741.49 in the previous period, reflecting a growth of 56%[93] - The company recorded a net cash inflow from operating activities of ¥1,414,261,767.27, a significant increase compared to ¥79,249,874.10 in the previous period[93] - Operating cash inflow totaled ¥783,558,297.98, a significant increase from ¥339,305,350.78 in the previous period[102] - Net cash flow from operating activities was -¥118,542,553.63, improving from -¥707,852,803.03 year-over-year[102] Shareholder Information - The total number of shareholders at the end of the reporting period was 62,668[14] - The largest shareholder, Xinjiang Production and Construction Corps, held 28.04% of the shares, totaling 283,929,184 shares[14] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[19] Inventory and Receivables - Accounts receivable decreased by 47.72% to ¥36,974,095.93 due to normal payment of overdue accounts during the reporting period[23] - Inventory decreased by 44.62% to ¥1,385,429,172.83 attributed to seasonal sales in the agricultural products business[23] - Accounts receivable increased significantly to ¥602,930,018.54 from ¥215,224,695.75, representing an increase of about 179.5%[44] Financial Expenses and Investments - Financial expenses increased by 242.44% to ¥127,516,404.80 as a result of increased loans during the reporting period[23] - The company reported an investment income of ¥1,673,839.08, an increase of 80.44% compared to the previous period due to higher profits from associated companies[23] - The company recorded an investment income of ¥1,673,839.08, up from ¥927,627.85, showing improved performance in its investment activities[77] Research and Development - Research and development expenses for Q3 2019 were ¥10,252,871.00, a decrease of 54.7% from ¥22,598,433.69 in the same quarter last year[61] - Research and development expenses increased to ¥14,014,921.70, up from ¥13,831,679.53, indicating a focus on innovation[71] - Research and development expenses rose to ¥48,418,963.26, an increase of 14% from ¥42,508,653.21 in the previous period[87] Changes in Capital Structure - The capital reserve increased by 64.49% to ¥949,517,131.38 due to the conversion of bonds into shares during the reporting period[23] - Minority interests increased by 653.49% to ¥521,470,682.43 as a result of capital increases from subsidiary shareholders during the reporting period[23]