Financial Performance - The company's operating revenue for the first half of 2019 was CNY 2,714,170,240.43, representing an increase of 18.72% compared to the same period last year[28]. - The net profit attributable to shareholders of the listed company was CNY 80,011,586.86, a decrease of 25.96% year-on-year[28]. - The net profit after deducting non-recurring gains and losses was CNY 73,630,128.00, down 24.46% from the previous year[28]. - The net cash flow from operating activities was CNY 542,238,516.56, showing a significant increase of 1,355.41% compared to the same period last year[28]. - Total assets at the end of the reporting period were CNY 9,214,314,959.73, an increase of 8.29% from the end of the previous year[28]. - The net assets attributable to shareholders of the listed company were CNY 3,533,946,469.23, up 10.11% from the previous year[28]. - The basic earnings per share were CNY 0.08, a decrease of 27.27% compared to the same period last year[28]. - The diluted earnings per share were also CNY 0.08, reflecting the same percentage decrease of 27.27%[28]. - The weighted average return on net assets was 2.43%, down 1.14% from the previous year[28]. Revenue Breakdown - The company sold 620,000 tons of feed, representing a year-on-year increase of 24%[43]. - The number of pigs sold reached 407,900, up 28.68% from the previous year[43]. - The pharmaceutical business generated sales revenue of RMB 257.86 million, a year-on-year increase of 1.81%[56]. - The revenue from the pig farming business increased by 79.86% year-on-year, amounting to RMB 226.38 million[56]. - The company's feed revenue reached ¥1,309,182,100.48, an increase of 14.58% compared to the previous period[68]. - Veterinary medicine revenue surged to ¥213,221,064.47, marking a significant increase of 65.10% year-on-year[68]. - Revenue from Xinjiang region increased by 16.74% to ¥1,204,797,245.86, while revenue from outside Xinjiang rose by 19.83% to ¥1,223,295,533.02[68]. Investment and Assets - Long-term equity investments increased by 101.88% compared to the end of the previous year[45]. - Fixed assets grew by 53.61% compared to the end of the previous year[45]. - Accounts receivable rose by 128.57% compared to the end of the previous year, primarily due to government procurement sales[47]. - The total investment during the reporting period was ¥566,518,857.74, reflecting an increase of 89.72% compared to the same period last year[75]. - The company has a total of ¥6,837.44 million in mortgaged assets, primarily for bank loans[74]. - The company reported a fair value loss of ¥576,470.00 on derivative financial assets during the reporting period[79]. Dividends and Shareholder Commitments - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[12]. - The company committed to distributing at least 10% of its distributable profits in cash dividends annually over the next three years, contingent on compliance with relevant laws and regulations[120]. - The company has fulfilled its commitment regarding the lock-up period for shares acquired during the non-public offering, which is set for 36 months[120]. Corporate Governance and Compliance - The company has established a commitment to avoid any illegal occupation of funds or assets from its subsidiaries by the controlling shareholders[116]. - The company has not experienced any major litigation or arbitration matters during the reporting period[125]. - The company has not undergone any bankruptcy restructuring during the reporting period[124]. - The company has committed to maintaining its independence in management and operations as per relevant laws and regulations[120]. - The company has adhered to its commitments regarding related party transactions and will ensure compliance with market principles[116]. Risk Management and Operational Strategies - The company plans to enhance biosecurity measures to mitigate risks associated with livestock diseases, particularly African swine fever, which has impacted the industry[104]. - The company is actively working to stabilize raw material costs by establishing storage facilities in major production areas and diversifying supply channels[105]. - The company aims to improve management and feeding techniques to enhance production efficiency and reduce costs in response to price fluctuations in livestock products[108]. - The company has implemented the HACCP management system to ensure food safety and maintain product quality, addressing increasing consumer concerns[108]. Shareholder Structure and Transactions - The largest shareholder, Xinjiang Production and Construction Corps, holds 28.24% of the shares, totaling 283,929,184 shares[172]. - Beijing Rongyuan Baotong Asset Management Partnership holds 15.13% of the shares, totaling 152,133,900 shares, which are pledged[172]. - The company has not engaged in any share buyback agreements with strategic investors or general corporations[175]. - The report confirms that there are no convertible preferred shares with restored voting rights as of the reporting period[172]. Environmental and Social Responsibility - The company faced an administrative penalty of CNY 30,000 due to environmental violations related to its subsidiary, which has since implemented corrective measures[156]. - The company is actively engaged in social responsibility initiatives, including poverty alleviation efforts, although specific metrics were not detailed in the report[159]. - The company has initiated a bidding process for environmental compliance improvements at its facilities[156].

天康生物 证券代码：002100 证券简称：天康生物 公告编号：2019-046 债券代码：128030 债券简称：天康转债 天康生物股份有限公司关于参加 2019 年新疆辖区上市公司 投资者集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，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、融资 计划、股权激励、可持续发展等投资者所关心的问题，天康生物股份有限公司（以 下简称"公司"）定于 2019 年 7 月 26 日下午 15:00-17:30 参加由深圳证券交易 所、新疆上市公司协会联合深圳市全景网络有限公司组织开展的 2019 年新疆辖区 上市公司投资者集体接待日活动。现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网 络远程的方式举行，投资者可以登录"全景·路演天下"网站（http://rs.p5w.net/） 或关注微信公众号：全景财经（微信号：p5w2012），参与公司本次投资者集体接 待日活动，活动时间为 2019 年 7 月 26 日（星期五）15:00 至 17:30 ...

Financial Performance - The company's operating revenue for Q1 2019 was ¥1,204,813,855.90, representing a 20.92% increase compared to ¥996,366,411.62 in the same period last year[10] - Net profit attributable to shareholders was ¥28,920,108.83, a decrease of 47.66% from ¥55,252,455.82 year-on-year[10] - The net profit after deducting non-recurring gains and losses was ¥27,206,552.91, down 49.85% from ¥54,249,567.43 in the previous year[10] - Basic earnings per share decreased by 50.00% to ¥0.03 from ¥0.06 in the previous year[10] - Operating profit, total profit, and net profit attributable to the parent company decreased by 89.42%, 89.18%, and 47.66% respectively, mainly due to the impact of swine fever on the food breeding business[25] - Net profit for the current period was ¥24,117.73, a significant decrease from ¥54,354,971.14 in the previous period[60] Cash Flow - The net cash flow from operating activities was ¥97,896,377.87, a significant improvement from a negative cash flow of ¥170,628,029.67 in the same period last year[10] - Cash flow from operating activities increased by 157.37% year-on-year, mainly due to higher revenue and reduced inventory purchases[30] - Cash flow from investing activities decreased by 165.45% year-on-year, primarily due to increased project investments in the current period[30] - Cash flow from financing activities increased by 492.93% year-on-year, reflecting a rise in loans needed for business operations[30] - Cash inflows from operating activities generated a net amount of ¥97,896,377.87, a significant recovery from a negative cash flow of ¥170,628,029.67 in the previous period[70] - Cash inflows from financing activities amounted to ¥699,779,121.20, significantly higher than ¥130,000,000.00 in the previous period, indicating a substantial increase in financing[74] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,486,857,083.03, an increase of 11.50% from ¥8,508,742,207.44 at the end of the previous year[10] - Total current assets increased to ¥5,971,303,638.20 from ¥5,857,658,521.18, reflecting a growth of approximately 1.93%[44] - Non-current assets rose significantly to ¥3,515,553,444.83 from ¥2,651,083,686.26, marking an increase of about 32.6%[44] - Total liabilities increased to ¥5,807,689,083.66 from ¥5,229,930,251.35, representing a rise of about 11.03%[46] - Long-term borrowings surged to ¥1,277,000,000.00 from ¥600,000,000.00, showing a significant increase of 112.83%[46] - The company's total liabilities increased to ¥3,680,982,801.63, compared to ¥3,118,704,637.60 in the previous period, reflecting a growth of 18%[57] Shareholder Information - The net assets attributable to shareholders were ¥3,231,009,815.42, a slight increase of 0.67% from ¥3,209,604,751.62 at the end of the previous year[10] - The top shareholder, Xinjiang Production and Construction Corps State-owned Assets Management Co., held 29.47% of the shares, totaling 283,929,184 shares[15] - The company repurchased a total of 6,363,400 shares, accounting for 0.6605% of the total share capital, with a total payment of approximately 29.98 million yuan[31] Expenses - Management expenses increased by 38.18% to 73.30 million yuan due to the addition of new subsidiaries in the reporting period[24] - Financial expenses surged by 326.67% to 42.34 million yuan, primarily due to increased loans from newly added subsidiaries[24] - The company reported a tax expense of ¥4,070,370.58, up from ¥2,870,235.48 in the previous period, reflecting an increase of approximately 42%[66] Inventory and Biological Assets - The company reported a 30.44% decrease in productive biological assets, mainly due to elimination and disease impacts[27] - The company’s inventory rose to ¥206,483,003.81 from ¥188,403,931.81, reflecting an increase of approximately 9.57%[51] Research and Development - Research and development expenses for the current period were ¥12,620,993.58, slightly up from ¥12,587,270.07 in the previous period[58]

Financial Performance - The total revenue for 2018 was approximately ¥5.27 billion, representing a 13.89% increase compared to ¥4.63 billion in 2017[25] - The net profit attributable to shareholders was approximately ¥313.73 million, a decrease of 22.95% from ¥407.15 million in the previous year[25] - The basic earnings per share for 2018 was ¥0.33, down 21.43% from ¥0.42 in 2017[25] - The company's net profit attributable to shareholders decreased by 22.95% year-on-year, amounting to CNY 313.73 million[53] - The company achieved total operating revenue of CNY 5,273.03 million, a year-on-year increase of 13.89%[53] - The company reported a significant increase in investment income, rising by 311.17% due to improved profits from associated companies[48] - The company reported a total revenue of 1,488,657,266.59 CNY for Xinjiang Tiankang Huitong Agriculture Co., Ltd, with a loss of 17,898,216.93 CNY impacting overall performance[119] Cash Flow and Assets - The net cash flow from operating activities was negative at approximately ¥1.18 billion, a decline of 281.49% compared to ¥649.33 million in 2017[25] - The net cash flow from operating activities in 2018 was -¥1,178,441,646.71, a decline of 281.49% compared to a positive cash flow of ¥649,327,329.99 in 2017[93] - Total cash inflow from operating activities was ¥5,332,282,911.96 in 2018, reflecting a year-on-year increase of 12.93% from ¥4,721,642,950.29 in 2017[93] - The net increase in cash and cash equivalents was ¥283,224,132.13, a decrease of 70.18% compared to the previous year[96] - Cash and cash equivalents accounted for 25.25% of total assets at the end of 2018, down from 30.89% in 2017, a decrease of 5.64%[98] - Inventory increased significantly to ¥2,501,764,113.23, representing 29.40% of total assets, up from 15.34% in 2017, an increase of 14.06%[98] - Short-term loans rose to ¥2,675,203,032.32, accounting for 31.44% of total assets, an increase of 17.27% due to business expansion[98] Revenue Breakdown - The feed business sales revenue was CNY 2,562.07 million, up 16.45% year-on-year, accounting for 48.59% of total revenue[59] - The pharmaceutical business sales revenue reached CNY 749.86 million, a growth of 10.90% year-on-year, representing 14.22% of total revenue[59] - The revenue from pig farming increased by 69.19% year-on-year, amounting to ¥336,076,025.03[63] - The total revenue from animal husbandry was ¥854,781,986.47, with a year-on-year increase of 15.15%[63] - The company's revenue from the feed industry showed a growth of 5.7% year-on-year, with total revenue reaching ¥8,689 billion[43] Investments and Development - The company has outlined future development prospects and risk management strategies in the report[7] - The company plans to expand its "company + farmer" breeding model as pig farming scales up[54] - The company has developed multiple vaccines, including a bivalent synthetic peptide vaccine for foot-and-mouth disease, which has shown effective immune response in clinical trials[88] - The company is preparing for the export of a bivalent inactivated vaccine for small ruminant plague and goat pox, with the new veterinary drug registration expected in 2019[91] - The company has focused on improving vaccine safety and efficacy through advanced production techniques, including serum-free suspension culture methods[88] Research and Development - The company reported a total R&D investment of ¥88,192,934.83 in 2018, an increase of 28.58% compared to ¥68,587,812.65 in 2017[92] - R&D personnel increased to 203 in 2018, representing a growth of 14.69% from 177 in 2017, with R&D personnel accounting for 7.40% of the total workforce[92] - Research and development expenses for the current period amount to ¥78,650,488.60, compared to ¥53,892,824.32 in the previous period, reflecting a significant increase[148] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1.00 per 10 shares to all shareholders[8] - The total cash dividend amount for 2018 was ¥129,199,297.24, which represents 41.18% of the net profit attributable to ordinary shareholders[134] - The cash dividend amount (including tax) for 2018 was ¥99,215,797.8, accounting for 31.62% of the net profit attributable to ordinary shareholders[134] - The total distributable profit for 2018 was ¥894,331,056.12, with the cash dividend amount accounting for 100% of the profit distribution[137] - The company commits to distributing at least 10% of its distributable profits in cash dividends annually over the next three years, with potential increases if net profits remain stable[148] Risk Management - The company has identified risks related to livestock epidemics, raw material price volatility, livestock product price fluctuations, and food safety, with strategies in place to mitigate these risks[126] - The company has established a biosecurity management system across its pig farming bases to reduce the occurrence and impact of diseases[126] - The company will enhance its core competitiveness through increased investment in technology research and development[123] Corporate Governance and Compliance - The company has established a comprehensive governance structure, including a shareholders' meeting, board of directors, and supervisory board, ensuring clear responsibilities and mutual checks[195] - The company emphasizes investor relations management, ensuring fair treatment of all shareholders and timely disclosure of significant information[195] - The company has not encountered any issues in the use and disclosure of raised funds[113] - The company has not faced any major litigation or arbitration matters during the reporting period[155] Market Position and Strategy - The animal vaccine market in China is projected to reach approximately 62 billion CNY by 2025, driven by increasing demand from the livestock industry[121] - The company is focusing on expanding its market share in the animal vaccine sector, particularly in pig vaccines, which hold a significant market share[121] - The company aims for a feed production and sales volume of 1.25 million tons, animal vaccine production of 1.6 billion milliliters, and a pig output of 1 million heads in 2019, with a revenue target of 6.754 billion yuan and a net profit of 413 million yuan[123]

Financial Performance - Operating revenue for the period reached ¥1,424,735,670.05, reflecting a growth of 19.06% year-on-year[8] - Net profit attributable to shareholders was ¥151,250,347.12, up by 15.59% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥150,255,378.97, an increase of 25.44% year-on-year[8] - Basic earnings per share were ¥0.16, representing a growth of 14.29% compared to the same period last year[8] - The weighted average return on equity was 4.92%, a slight increase of 0.16% from the previous year[8] Asset and Shareholder Information - Total assets increased to ¥6,784,314,014.98, a rise of 15.52% compared to the end of the previous year[8] - The total number of shareholders at the end of the reporting period was 57,643[12] - The largest shareholder, Xinjiang Production and Construction Corps State-owned Assets Management Co., held 29.47% of the shares[12] Cash Flow and Receivables - Cash flow from operating activities showed a significant decline, with a net amount of ¥41,993,013.36, down 84.04% year-on-year[8] - Accounts receivable increased by 226.93% to RMB 647,271,115.58 due to year-end settlement methods in the pharmaceutical business[18] - Other receivables surged by 722.78% to RMB 226,179,340.24, primarily due to loans made to other companies[18] - The company reported a 49.03% decrease in advance receipts to RMB 129,688,984.91, as inventory sales were completed by the end of the reporting period[18] Borrowings and Financial Expenses - Short-term borrowings rose by 59.74% to RMB 1,329,000,000.00, attributed to increased loans for expanded operations[18] - Financial expenses increased by 107.85% to RMB 37,238,086.01 due to higher loan costs from expanded operations[18] Future Expectations and Plans - The company expects a net profit attributable to shareholders to decline by 30% to 0% in 2018, with an estimated range of RMB 28,500.49 to RMB 40,714.98 million[21] - The company plans to repurchase shares using its own funds, with a budget between RMB 100 million and RMB 200 million, at a price not exceeding RMB 7 per share, within a 6-month period[17] Compliance and Commitments - The company reported no significant changes in its major financial data or indicators during the reporting period[16] - There were no instances of non-compliance with external guarantees during the reporting period[23] - The company has no overdue commitments from controlling shareholders or related parties during the reporting period[20]

Financial Performance - Operating revenue for the period reached ¥1,424,735,670.05, reflecting a growth of 19.06% year-on-year[8] - Net profit attributable to shareholders was ¥151,250,347.12, up by 15.59% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥150,255,378.97, an increase of 25.44% year-on-year[8] - Basic earnings per share were ¥0.16, representing a growth of 14.29% compared to the same period last year[8] - The weighted average return on equity was 4.92%, a slight increase of 0.16% compared to the previous year[8] - The company expects a net profit attributable to shareholders to decline by 30% to 0%, estimating a range of RMB 28,500.49 to RMB 40,714.98 for 2018[21] Assets and Liabilities - Total assets increased to ¥6,784,314,014.98, a rise of 15.52% compared to the end of the previous year[8] - Accounts receivable increased by 226.93% to RMB 647,271,115.58 due to year-end settlement of government procurement in the pharmaceutical business[18] - Other receivables surged by 722.78% to RMB 226,179,340.24, primarily due to loans made to Tachen Huitong and others[18] - Short-term borrowings rose by 59.74% to RMB 1,329,000,000.00, attributed to increased loans from expanded business operations[18] - Financial expenses increased by 107.85% to RMB 37,238,086.01, driven by higher loan costs due to business expansion[18] - The company reported a 49.03% decrease in advance receipts to RMB 129,688,984.91, as the plant protein business completed its sales for the season[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 963,402,312[12] - The largest shareholder, Xinjiang Production and Construction Corps State-owned Assets Management Co., held 29.47% of the shares[12] Corporate Actions - The company plans to repurchase shares using its own funds, with a budget between RMB 100 million and RMB 200 million, at a price not exceeding RMB 7 per share[17] Compliance and Commitments - The company reported no significant changes in its non-recurring gains and losses during the reporting period[10] - The company has no overdue commitments from controlling shareholders or related parties during the reporting period[20] - There were no instances of non-compliance with external guarantees during the reporting period[23] Cash Flow - Cash flow from operating activities showed a significant decline, with a net amount of ¥41,993,013.36, down 84.04% year-on-year[8] Investment Performance - Investment income improved by 187.43% to ¥927,627.85, reflecting better operational performance of investment projects[18]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥2,286,098,674.60, representing a 0.73% increase compared to ¥2,269,473,254.95 in the same period last year[21]. - The net profit attributable to shareholders decreased by 43.05% to ¥108,064,818.61 from ¥189,752,358.05 year-on-year[21]. - Basic and diluted earnings per share fell by 45.00% to ¥0.11 from ¥0.20 in the same period last year[21]. - The company reported a net profit of CNY 110,762,315.11 for the first half of 2018, reflecting a decrease in profitability compared to the previous year[162]. - The net profit for the first half of 2018 was CNY 74,147,612.20, down from CNY 98,562,712.79 in the same period last year, representing a decline of approximately 24.7%[167]. - The total comprehensive income for the first half of 2018 was CNY 74,147,612.20[184]. Cash Flow and Liquidity - The net cash flow from operating activities dropped significantly by 82.53%, amounting to ¥37,256,860.74 compared to ¥213,309,644.91 in the previous year[21]. - The company's cash and cash equivalents at the end of the reporting period amounted to CNY 1,823,887,401, representing an increase of 6.93% compared to the previous year[48]. - The net cash flow from operating activities was -113,068,920.12 yuan, compared to -38,952,360.23 yuan in the previous period, indicating a decline in operational performance[174]. - The cash flow from tax refunds received was 1,878,427.35 yuan, contributing to the overall cash inflow from operating activities[173]. - The company reported a cash flow net increase of -10,992,058.04 yuan, contrasting with a positive increase of 162,903,162.64 yuan in the previous period[175]. Assets and Liabilities - The total assets of the company increased by 5.46% to ¥6,193,423,964.13 from ¥5,872,850,839.57 at the end of the previous year[21]. - Total liabilities increased to CNY 2,434,026,270.57 from CNY 2,074,244,003.05, reflecting a growth in financial obligations[161]. - The company's total equity was CNY 3,079,582,250.99, up from CNY 3,055,177,541.77 at the beginning of the year[157]. - The company's current ratio decreased by 39.89% to 162.92% compared to the previous year, attributed to an increase in accounts receivable due to unsettled government procurement[142]. Business Operations - The feed business sales revenue increased by 4.73% to CNY 1,156,445,911.44, while the pharmaceutical business sales revenue decreased by 4.77% to CNY 253,285,548.55[35]. - The revenue from pig farming increased by 23.38% year-on-year, totaling CNY 125,864,339.55, but the gross margin decreased by 36.18%[45][46]. - The company aims to become a leading health breeding service provider and safe food supplier in China, focusing on a complete industry chain from breeding to sales[29]. - The company plans to gradually expand the "company + farmer" breeding model as its pig farming scale increases[36]. Investment and Development - Research and development investment increased by 48.37% to CNY 28,676,973.68, reflecting the company's commitment to enhancing innovation capabilities[40]. - The company plans to enhance its animal vaccine and feed business to improve market competitiveness and risk resistance[79]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[182]. Risks and Challenges - The company faces risks related to livestock disease outbreaks, raw material price fluctuations, and food safety issues that could impact its performance[5][6][8]. - The company faces risks from fluctuations in raw material prices, particularly corn and soybean meal, which could negatively impact its feed business[80]. - The cyclical fluctuations in livestock product prices have adversely affected the company's pig farming and feed business[81]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[9]. - The company has committed to distributing cash dividends of no less than 10% of the distributable profits achieved each year for the next three years[88]. - The company has not sold any significant assets during the reporting period[73]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[95]. Compliance and Regulations - The financial report for the first half of 2018 has not been audited[89]. - The company has not faced any penalties or corrective actions during the reporting period[92]. - The company has committed to maintaining its independence in operations and management as per relevant laws and regulations[88].

2018 年第一季度报告正文 1 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 天康生物股份有限公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 天康生物股份有限公司 2018 年第一季度报告正文 公告编号：2018-035 天康生物股份有限公司 公司负责人杨焰、主管会计工作负责人耿立新及会计机构负责人(会计主管 人员)杨俊声明：保证季度报告中财务报表的真实、准确、完整。 2 天康生物股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 996,366,411.62 | 1,039,393,448.53 | -4.14% | | 归属 ...

Financial Performance - The company's operating revenue for 2017 was ¥4,630,025,738.72, representing a 4.18% increase from ¥4,444,138,122.88 in 2016[26]. - The net profit attributable to shareholders for 2017 was ¥407,149,786.08, up 3.72% from ¥392,541,388.03 in 2016[26]. - The net cash flow from operating activities increased by 105.45% to ¥649,327,329.99 in 2017 from ¥316,051,716.97 in 2016[26]. - The total assets at the end of 2017 were ¥5,872,850,839.57, a 30.77% increase from ¥4,490,817,872.34 at the end of 2016[27]. - The company's basic earnings per share for 2017 was ¥0.42, a 2.44% increase from ¥0.41 in 2016[26]. - The weighted average return on equity for 2017 was 14.66%, down from 15.82% in 2016[27]. - The company achieved a net profit of 441,280,988.82 yuan in 2017, exceeding the average net profit of the previous three years by 149,953,113.89 yuan[147]. Revenue Breakdown - The company's feed business sales revenue was 220,011.78 million yuan, a decrease of 0.91%, accounting for 47.52% of total operating revenue[47]. - The company sold 120,873.14 million doses (milliliters) of animal vaccines, a decrease of 4.57% year-on-year[48]. - The company's pharmaceutical business revenue was 67,617.54 million yuan, a decline of 10.05%, accounting for 14.60% of total operating revenue[48]. - The company's plant protein and oil processing business revenue increased by 34.58% year-on-year, totaling 84,350.84 million yuan[49]. - The company reported a 63.93% increase in revenue from live pigs, totaling approximately ¥198.63 million, compared to ¥121.17 million in 2016[56]. Investment and R&D - The company plans to invest no less than 10% of its revenue annually in R&D, targeting 2-3 new product launches each year with an expected annual growth rate of 20-30% for its veterinary medicine business[6]. - The company has recruited over 30 professionals for its R&D team to enhance its pharmaceutical technology development capabilities[5]. - R&D investment amounted to approximately ¥68.59 million in 2017, a decrease of 11.53% from ¥77.53 million in 2016, with R&D expenditure accounting for 1.48% of operating revenue[78]. - The company is developing a dual-inactivated vaccine for Porcine Circovirus Type 2 and Mycoplasma Pneumonia, which has shown high antigen expression and safety[67]. - The company is focusing on expanding its vaccine portfolio to address complex epidemic situations in border regions, particularly for small ruminant diseases[76]. Risk Management - The company acknowledges risks related to livestock disease outbreaks, raw material price fluctuations, and food safety, which could impact its financial performance[10][11][14]. - The company is addressing risks from livestock diseases by strengthening disease prevention measures and leveraging its vaccine and feed business for better market competitiveness[119]. - The company is mitigating risks from raw material price fluctuations by establishing storage companies in major production areas and diversifying raw material supply channels[120]. - The company is implementing strict management practices to ensure food safety and has adopted the HACCP management system to meet international standards[124]. Dividend and Profit Distribution - TianKang Bio's profit distribution plan includes a cash dividend of 1.00 RMB per 10 shares (before tax) for all shareholders[14]. - In 2017, the company distributed a cash dividend of 1.00 CNY per 10 shares, totaling 96,338,460.80 CNY, which represents 23.66% of the net profit attributable to shareholders[128]. - The company has committed to distributing cash dividends annually, with a minimum of 10% of the distributable profit for the year[136]. - The cash dividend payout ratio for 2015 was 47.03%, for 2016 was 24.54%, and for 2017 was 23.66%[130]. Corporate Governance and Compliance - The company has established commitments to ensure that related party transactions do not harm the legitimate rights and interests of its shareholders[133]. - The company has outlined measures to ensure compliance with legal obligations and to protect shareholder interests during the restructuring process[133]. - The company has established a complete governance structure and internal control system to ensure compliance with laws and regulations[168]. - The company has not engaged in any major related party transactions during the reporting period[149]. Future Plans and Growth Strategy - TianKang Bio aims to achieve over 10 billion RMB in revenue and over 1 billion RMB in profit by the end of the 13th Five-Year Plan[5]. - The company aims for a feed production and sales volume of 1.02 million tons, animal vaccine production of 1.6 billion doses (milliliters), and a pig output of 700,000 heads in 2018, with a revenue target of 5.128 billion yuan and a net profit of 365 million yuan after deducting non-recurring gains and losses[114]. - The company plans to gradually expand the "company + farmer" breeding model as its pig farming scale increases[50]. - The company is focusing on expanding its international business, particularly in the sales of E2 vaccines and foot-and-mouth disease vaccines[117].

Financial Performance - Net profit attributable to shareholders increased by 3.08% to CNY 130,849,143.58 for the current period[8] - Operating revenue rose by 9.51% to CNY 1,196,626,639.72 for the current period[8] - Basic earnings per share increased by 7.69% to CNY 0.14[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 3.83% to CNY 119,782,689.93[8] - The company reported a gross profit margin of approximately 11.6% for the quarter, down from 12.8% in the previous year[41] - Net profit attributable to shareholders was CNY 130,849,143.58, a slight increase from CNY 126,938,759.87, representing a growth of 2.4%[43] - The total comprehensive income for the quarter was CNY 130,314,647.82, compared to CNY 125,577,271.32 in the previous year, showing an increase of 3.0%[43] - The total profit for the quarter was CNY 330,058,787.57, down from CNY 351,231,514.25 in the previous year[48] Assets and Liabilities - Total assets increased by 4.99% to CNY 4,715,024,529.94 compared to the end of the previous year[8] - The total liabilities of the company were CNY 1,791,394,342.25, slightly up from CNY 1,786,571,256.12, showing a marginal increase of about 0.3%[36] - Total liabilities increased to CNY 1,324,310,579.64 from CNY 988,800,097.25, marking a significant rise of 33.9%[42] - The equity attributable to the owners of the parent company increased to CNY 2,853,258,955.46 from CNY 2,628,995,914.63, reflecting a growth of approximately 8.5%[37] - The company's short-term borrowings rose to CNY 919,000,000.00 from CNY 840,000,000.00, an increase of about 9.4%[35] Cash Flow - Net cash flow from operating activities increased by 39.87% to CNY 263,153,546.28[8] - Operating cash flow increased by 27.27% to ¥476,463,191.19, primarily due to rising revenues and reduced inventory[16] - The net cash flow from operating activities was CNY 476,463,191.19, an increase from CNY 374,368,403.61 in the previous year[56] - Financing activities generated a net cash inflow of CNY 257,160,478.96, a significant improvement from a net outflow of CNY -18,844,170.43 in the prior period[61] - Total cash and cash equivalents at the end of the period reached CNY 1,043,807,399.90, up from CNY 786,470,771.06 in the previous year, marking an increase of approximately 32.7%[60] Shareholder Information - The total number of shareholders at the end of the reporting period was 59,635[12] - The largest shareholder, Xinjiang Production and Construction Corps State-owned Assets Management Co., held 29.47% of shares[12] Government and Regulatory Matters - The company reported a government subsidy income of CNY 15,999,311.45 during the reporting period[9] - The company received a notice from the China Securities Regulatory Commission regarding the termination of the review of its non-public stock issuance application[19] Business Operations and Strategy - The company plans to raise up to ¥100 million through the issuance of convertible bonds for the construction of a pharmaceutical industrial park[17] - The company is focused on maintaining compliance with laws and regulations to avoid penalties or legal issues that could affect its operations[24] - The company is actively working on strategies to enhance its market position and operational efficiency through compliance and governance improvements[24] Commitments and Governance - The company reported a commitment to avoid competition with its subsidiaries, ensuring no similar business activities are conducted by the controlling shareholder[23] - The commitment includes ensuring that all related transactions are conducted fairly and transparently, minimizing any potential conflicts of interest[23] - The company has established measures to protect shareholder rights and ensure proper management of related party transactions[24] - The controlling shareholder has agreed to bear responsibility for any liabilities arising from past operational issues prior to the acquisition date[24] Performance Outlook - The net profit attributable to shareholders for 2017 is expected to range from 314.03 million to 431.80 million CNY, reflecting a decrease of 20% to an increase of 10% compared to 2016's net profit of 392.54 million CNY[28] - The decline in performance is attributed to lower product prices in the pig farming and plant protein businesses, while other business segments are expected to perform steadily[28] - The company commits to distributing at least 10% of the distributable profit as cash dividends annually over the next three years, contingent on meeting relevant legal and regulatory requirements[26] - The company plans to increase the cash dividend ratio or implement stock dividends if net profits continue to grow steadily over the next three years[26]