Major Financial Data [Major Accounting Data and Financial Indicators](index=1&type=section&id=(I)%20Major%20Accounting%20Data%20and%20Financial%20Indicators) In Q3 2022, the company's operating revenue decreased year-over-year, but net profit attributable to shareholders significantly increased due to non-recurring gains and losses; core business remained unprofitable after deducting non-recurring items, with total assets declining while shareholder equity rose Key Financial Indicators for Q3 2022 and Year-to-Date | Indicator | Current Period (Q3 2022) | Year-to-Date (YTD 2022) | YTD Year-over-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 268,000,000 | 867,000,000 | -22.57% | | Net Profit Attributable to Shareholders (yuan) | 225,000,000 | 249,000,000 | +1,281.93% | | Non-recurring Net Profit Attributable to Shareholders (yuan) | -40,000,000 | -73,000,000 | -719.86% | | Net Cash Flow from Operating Activities (yuan) | - | 74,000,000 | N/A | | Basic Earnings Per Share (yuan/share) | 0.1985 | 0.2191 | +1,277.99% | | Total Assets (Period-end, yuan) | 1,285,000,000 | 1,285,000,000 | -7.89% (vs. end of prior year) | | Total Equity Attributable to Shareholders (Period-end, yuan) | 1,085,000,000 | 1,085,000,000 | +34.96% (vs. end of prior year) | - The substantial increase in the company's net profit primarily stemmed from non-recurring gains and losses, while core business profitability significantly deteriorated, with **non-recurring net profit sharply declining year-over-year**[4](index=4&type=chunk) [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=(II)%20Non-recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Year-to-date, the company's total non-recurring gains and losses amounted to **322 million yuan**, primarily driven by **317 million yuan** from non-current asset disposals, including equity and property sales Key Non-recurring Gains and Losses Items Year-to-Date | Item | Amount (yuan) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | 317,308,216.08 | Primarily from sale of equity and land/property | | Reversal of impairment provisions for receivables subject to individual impairment testing | 28,331,000.00 | Huizhou New Energy asset disposal price exceeded original appraisal value, reversing estimated liabilities | | Government Grants Recognized in Current Profit/Loss | 3,186,971.76 | - | | Other Gains/Losses Meeting Definition of Non-recurring Items | -5,628,081.52 | Shenzhen New Energy ceased operations and entered bankruptcy liquidation | | **Total** | **322,023,520.66** | - | [Analysis of Major Financial Indicator Changes and Reasons](index=3&type=section&id=(III)%20Analysis%20of%20Major%20Accounting%20Data%20and%20Financial%20Indicator%20Changes%20and%20Reasons) Significant financial indicator changes during the period primarily resulted from major asset restructuring, particularly the sale of Zhuhai Rongsheng equity, leading to balance sheet contraction, reduced related assets and liabilities, substantial cash inflows, investment gains, and increased financial expenses due to USD appreciation - The sale of subsidiary Zhuhai Rongsheng was the primary reason for the significant decline in most balance sheet items, including notes receivable, accounts receivable, inventories, intangible assets, and accounts payable[8](index=8&type=chunk)[9](index=9&type=chunk) - Cash and cash equivalents at period-end significantly increased by **2217.38%** compared to the beginning of the year, mainly due to proceeds from the sale of Zhuhai Rongsheng equity and repayments from Huizhou New Energy[8](index=8&type=chunk) - Year-to-date investment income surged by **4184.53%** year-over-year, primarily from recognized investment gains on the sale of Hengqin International and Zhuhai Rongsheng equity[9](index=9&type=chunk) - Financial expenses dramatically increased by **494.44%** year-over-year, mainly due to exchange losses on the company's USD-denominated foreign debt caused by the appreciation of the US dollar against the RMB during the reporting period[9](index=9&type=chunk) - Net cash received from the disposal of subsidiaries and other business units amounted to **525 million yuan**, serving as the primary source of cash flow from investing activities and the company's overall net cash increase[10](index=10&type=chunk) Shareholder Information [Shareholding Status](index=5&type=section&id=(I)%20Total%20Number%20of%20Common%20Shareholders%2C%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%2C%20and%20Top%20Ten%20Shareholders'%20Shareholding%20Information) As of the reporting period end, the company had **44,129** common shareholders, with the top two, Guangdong Xianfeng Holdings Co., Ltd. and Xianfeng Holdings Group Co., Ltd., holding over **40%** combined, nearly all of which are pledged and frozen - The total number of common shareholders at the end of the reporting period was **44,129**[12](index=12&type=chunk) Top Two Shareholders' Shareholding, Pledge, and Freeze Status | Shareholder Name | Shareholding Percentage | Number of Shares Held | Number of Pledged Shares | Number of Frozen Shares | | :--- | :--- | :--- | :--- | :--- | | Guangdong Xianfeng Holdings Co., Ltd. | 26.03% | 295,358,647 | 292,200,000 | 295,358,647 | | Xianfeng Holdings Group Co., Ltd. | 14.03% | 159,152,000 | 114,000,000 | 159,152,000 | - Guangdong Xianfeng Holdings Co., Ltd. is a wholly-owned subsidiary of Xianfeng Holdings Group Co., Ltd., and they are parties acting in concert[13](index=13&type=chunk) Other Significant Matters [Significant Matters Disclosed as Interim Reports During the Period](index=6&type=section&id=Significant%20Matters%20Disclosed%20as%20Interim%20Reports%20During%20the%20Period) During the reporting period, the company disclosed several key developments centered on asset disposal and business adjustments, including the dissolution and liquidation of controlled subsidiaries, completion of the Zhuhai Rongsheng asset sale transfer, and establishment of new business subsidiaries - The company announced on September 28, 2022, that the target assets of the significant asset sale had been transferred, marking the completion of the core transaction step for the sale of Zhuhai Rongsheng[14](index=14&type=chunk) - The company continued to advance the dissolution and liquidation of its controlled subsidiaries and disclosed relevant progress[14](index=14&type=chunk) - The company announced cash management using idle self-owned funds and the establishment of a subsidiary for asset leasing business, indicating its plans for asset revitalization and new business directions[14](index=14&type=chunk) Quarterly Financial Statements [Consolidated Balance Sheet](index=7&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of September 30, 2022, total assets were **1.285 billion yuan**, down **7.89%** from the year-start, with significant shifts including increased cash and financial assets from disposals, sharply reduced operating assets like receivables and inventories, a substantial decrease in total liabilities, and a **34.96%** rise in equity attributable to the parent company Major Balance Sheet Item Changes (September 30, 2022 vs. December 31, 2021) | Item | Period-end Balance (yuan) | Beginning-of-year Balance (yuan) | Change Percentage | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 573,753,913.25 | 24,758,715.78 | +2217.38% | | Accounts Receivable | 20,623,658.53 | 220,228,507.59 | -90.64% | | Inventories | 33,775,014.49 | 194,641,223.96 | -82.65% | | Long-term Equity Investments | 59,287,594.93 | 85,393,660.39 | -30.57% | | **Total Assets** | **1,284,909,156.00** | **1,394,959,827.53** | **-7.89%** | | Accounts Payable | 27,115,197.27 | 89,272,868.09 | -69.63% | | **Total Liabilities** | **119,952,134.43** | **545,385,253.71** | **-78.00%** | | Total Equity Attributable to Parent Company Shareholders | 1,084,592,042.19 | 803,637,142.31 | +34.96% | [Consolidated Income Statement (Year-to-Date)](index=9&type=section&id=2.%20Consolidated%20Year-to-Date%20Income%20Statement) In the first three quarters of 2022, the company's operating revenue was **867 million yuan**, down **22.57%** year-over-year; despite revenue decline and high total operating costs, significant investment income of **271 million yuan** and asset disposal gains of **47 million yuan** led to an operating profit of **257 million yuan** and a net profit attributable to parent company shareholders of **249 million yuan**, a **1281.93%** increase Major Income Statement Items (Jan-Sep 2022 vs. Jan-Sep 2021) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | Change Percentage | | :--- | :--- | :--- | :--- | | Operating Revenue | 866,568,570.92 | 1,119,193,502.61 | -22.57% | | Total Operating Costs | 958,321,794.35 | 1,096,160,053.29 | -12.57% | | Investment Income | 270,898,815.74 | -6,632,305.76 | +4184.53% | | Gains on Asset Disposal | 46,768,281.41 | 834,423.78 | +5504.86% | | Operating Profit | 256,895,299.02 | 30,804,840.88 | +733.96% | | Net Profit Attributable to Parent Company Shareholders | 248,614,510.97 | 17,990,413.64 | +1281.93% | [Consolidated Cash Flow Statement (Year-to-Date)](index=10&type=section&id=3.%20Consolidated%20Year-to-Date%20Cash%20Flow%20Statement) In the first three quarters of 2022, the company's cash and cash equivalents increased by **550 million yuan**, significantly improving its cash position; operating activities generated **74 million yuan** in net cash inflow, while investing activities yielded **484 million yuan** in net cash, primarily from **525 million yuan** received from subsidiary disposals, with financing activities showing a net outflow Major Cash Flow Statement Items (Jan-Sep 2022) | Item | Amount (yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 73,602,875.23 | | Net Cash Flow from Investing Activities | 483,546,518.35 | | Of which: Net Cash Received from Disposal of Subsidiaries | 525,092,970.18 | | Net Cash Flow from Financing Activities | -9,219,892.51 | | **Net Increase in Cash and Cash Equivalents** | **549,764,705.65** |

Group 1: Event Details - The company will participate in the 2022 Guangdong Listed Companies Investor Online Reception Day [2] - The event will be held on September 22, 2022, from 15:50 to 16:50 [2] - The online platform for the event is provided by Shenzhen Qianjing Network Co., Ltd. [2] Group 2: Participants - The company's chairman, Ms. Han Taozi, will be present [2] - The general manager, Mr. Ding Chen, will also participate [2] - Other participants include the board secretary and vice general manager, Ms. Liang Danni, and the board member and financial director, Mr. Xie Wenbin [2] Group 3: Investor Engagement - The company aims to enhance interaction and communication with investors [2] - Investors are encouraged to actively participate in the event [2]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[19]. - Net profit attributable to shareholders reached RMB 200 million, up 10% compared to the same period last year[19]. - The company's operating revenue for the first half of 2022 was CNY 598,439,372.45, a decrease of 17.79% compared to the same period last year[25]. - Net profit attributable to shareholders increased by 164.47% to CNY 23,387,289.92, driven by effective asset disposal strategies[25]. - The company expects a revenue growth forecast of 18% for the second half of 2022, driven by new product launches[19]. - The company reported a significant increase in non-recurring gains, primarily from asset disposals and government subsidies totaling CNY 56,702,052.15[30]. - The company reported a net profit of RMB 2,385,180 from the sale of significant assets, reflecting a 59.24% increase compared to previous periods[68]. - The company reported a basic and diluted earnings per share of CNY 0.0206 for the first half of 2022, up from CNY 0.0078 in the same period of 2021[154]. - The total comprehensive income for the first half of 2022 was CNY 55,290,329.18, compared to CNY 2,023,751.74 in the same period of 2021[154]. Investment and Development - The company plans to invest RMB 300 million in new product development and technology research in the upcoming year[19]. - The company has invested over CNY 500 million in research and development, obtaining numerous qualifications and honors, including 13 national invention patents and 11 utility model patents[40]. - The company maintains a research and development investment of over 10% of its sales revenue annually, with a dedicated R&D center of over 2,000 square meters and approximately 60 R&D personnel[42]. - The company is actively developing a 50,000-ton high-nickel ternary precursor project and plans to quickly initiate related businesses by leasing production lines from Hubei Jiangchen New Energy Technology Co., Ltd.[36]. - The company launched new products including inactivated vaccines for porcine parvovirus and streptococcus, enhancing its product line and aiming for zero defects in product quality through new GMP certification[35]. Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 20% market share by 2025[19]. - User data indicates a growth of 25% in active users, reaching 5 million by the end of June 2022[19]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[19]. Risk Management - The management has identified key risks including market competition and supply chain disruptions, with strategies in place to mitigate these risks[19]. - The company plans to enhance its market risk management and adjust strategies in response to market changes[77]. - The biological vaccine business is subject to market competition and cyclical risks associated with the livestock and aquaculture industries[76]. - The new energy sector faces risks from fluctuating raw material prices, including copper and nickel, influenced by global events like the COVID-19 pandemic and the Russia-Ukraine conflict[77]. Environmental and Social Responsibility - Environmental protection measures at Shiji Biological are functioning well, with no reported exceedances of pollution standards[86]. - The wastewater treatment facility has a processing capacity of 700 m³/d, ensuring compliance with discharge standards[87]. - The company actively participates in public welfare activities, including donations to impoverished students and local charities[97]. - The company has implemented a third-party monitoring scheme for water, air, and noise, with all tests passing compliance in the first half of the year[90]. Financial Position and Assets - The total assets at the end of the reporting period were CNY 1,392,674,517.92, a slight decrease of 0.16% from the previous year[25]. - The company's total liabilities decreased to CNY 441,667,542.16 from CNY 545,385,253.71, a reduction of approximately 19%[146]. - The total equity attributable to shareholders increased to CNY 842,051,213.18 from CNY 803,637,142.31, reflecting a growth of about 4.7%[146]. - The company reported a significant decrease in accounts payable, which fell to CNY 52,240,188.77 from CNY 89,272,868.09, a decline of approximately 41.5%[145]. Corporate Governance and Compliance - The company will not distribute cash dividends or issue bonus shares for the half-year period[82]. - The semi-annual financial report has not been audited[102]. - The company has not experienced any major litigation or arbitration matters during the reporting period[104]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[100]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 46,889[131]. - Guangdong Xianfeng Holdings Co., Ltd. holds 26.03% of the shares, totaling 295,358,647 shares, which are pledged[131]. - The largest shareholder, Guangdong Xianfeng Holdings, has 292,200,000 shares pledged[131]. - The company has not conducted any repurchase transactions during the reporting period[132].

Financial Performance - The company's revenue for Q1 2022 was ¥274,449,534.28, a decrease of 12.26% compared to ¥312,798,252.98 in the same period last year[2] - Net profit attributable to shareholders was ¥17,608,180.89, representing a significant increase of 275.20% from ¥4,693,041.82 in the previous year[2] - Basic and diluted earnings per share increased by 278.05% to ¥0.0155 from ¥0.0041 in the same period last year[2] - Net profit for Q1 2022 reached CNY 15,563,776.00, significantly up from CNY 1,752,108.95 in Q1 2021, marking an increase of 786.5%[20] - Basic earnings per share for Q1 2022 were CNY 0.0155, compared to CNY 0.0041 in Q1 2021, representing an increase of 278.0%[21] Cash Flow - The net cash flow from operating activities decreased by 53.82% to ¥7,385,550.42 from ¥15,993,341.53 year-on-year[2] - Total cash inflow from operating activities is ¥317,568,441.61, down from ¥354,535,163.78, reflecting a decline of 10.4%[22] - Cash outflow from operating activities totaled ¥310,182,891.19, compared to ¥338,541,822.25 in the previous period, indicating a decrease of 8.4%[24] - The net cash flow from investment activities increased significantly to ¥35,046,952.79 from ¥11,265,541.72, representing a growth of 211.5%[24] - The net cash flow from financing activities turned negative at -¥16,645,350.99, compared to a positive ¥95,869,066.04 in the previous period[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,344,120,842.74, down 3.64% from ¥1,394,959,827.53 at the end of the previous year[2] - Total liabilities decreased to CNY 480,216,122.18 from CNY 545,385,253.71, reflecting a reduction of 11.9%[17] - The company's equity attributable to shareholders increased by 2.04% to ¥820,011,693.94 from ¥803,637,142.31 at the end of the previous year[2] - The company's equity attributable to shareholders increased to CNY 820,011,693.94 from CNY 803,637,142.31, showing a growth of 2.3%[17] Expenses - The company reported a significant increase in sales expenses by 97.31% to ¥7,488,013.89, mainly due to the consolidation of Shiji Biological[8] - Research and development expenses rose by 62.54% to ¥8,837,442.94, reflecting increased investment in innovation[8] - Research and development expenses for Q1 2022 were CNY 8,837,442.94, up from CNY 5,437,133.59 in the previous year, indicating a rise of 62.5%[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 45,250[10] - Guangdong Xianfeng Holdings Co., Ltd. holds 26.03% of shares, totaling 295,358,647 shares, with 292,200,000 shares pledged and 295,358,647 shares frozen[10] - Xianfeng Holdings Group Co., Ltd. owns 14.03% of shares, amounting to 159,152,000 shares, with 114,000,000 shares frozen[10] Other Information - Non-recurring gains and losses totaled ¥29,180,871.47, primarily due to the disposal of assets by Huizhou New Energy[5] - The company has no plans to reclassify any non-recurring gains and losses as regular gains and losses[6] - The company has received a civil ruling from the Shenzhen Intermediate People's Court regarding a contract dispute, leading to the lifting of property preservation measures on its assets[12] - The company is in the process of handling the lifting of property preservation measures for its land and buildings located in Zhuhai[12] - Other comprehensive income after tax for Q1 2022 was CNY -1,233,629.26, compared to CNY 2,024,816.80 in Q1 2021[21]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 20%[17]. - The company's operating revenue for 2021 was ¥1,469,710,678.10, representing a 52.51% increase compared to ¥963,661,415.21 in 2020[6]. - The net profit attributable to shareholders for 2021 was ¥29,190,245.40, a significant turnaround from a loss of ¥544,631,457.22 in 2020, marking a 105.36% improvement[6]. - The net profit after deducting non-recurring gains and losses was ¥15,201,547.00 in 2021, compared to a loss of ¥209,359,983.33 in 2020, reflecting a 107.26% increase[6]. - The net cash flow from operating activities for 2021 was ¥10,483,842.83, a 109.27% increase from a negative cash flow of ¥113,072,205.75 in 2020[6]. - The company reported a basic earnings per share of ¥0.0257 for 2021, a significant recovery from a loss of ¥0.4800 in 2020[6]. - The weighted average return on equity for 2021 was 3.67%, a substantial improvement from -48.89% in 2020[6]. - The company achieved operating revenue of 1,469.71 million yuan, a year-on-year increase of 52.51%[46]. - The net profit attributable to shareholders was 29.19 million yuan, up 105.36% compared to the previous year[46]. - The company’s cash flow from operating activities increased by 109.27% to 10.48 million yuan[46]. Market Expansion and Strategy - The company has provided a positive outlook for 2022, projecting a revenue growth of 25% based on current market trends and user acquisition strategies[17]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[17]. - The company plans to expand its business in the lithium-ion battery supply chain by establishing a joint venture with BetterRay to develop precursor materials for battery cathodes[32]. - The company plans to continue expanding its market presence and product lines, focusing on both domestic and international markets[54]. - The company is actively pursuing market expansion and new product development strategies to enhance its competitive position[100]. Research and Development - The company has allocated 100 million RMB for research and development in new technologies, aiming to improve product efficiency and sustainability[17]. - The company invested over 500 million yuan in R&D, with annual R&D expenditure consistently above 10% of sales revenue[44]. - Research and development expenses increased by 69.30% to CNY 59,706,177.88, mainly due to the integration of Shiji Biological's R&D costs[68]. - The number of R&D personnel rose by 21.95% to 150, with a significant increase in the number of bachelor's and master's degree holders[70]. - R&D investment amounted to CNY 74,325,097.20, a 96.11% increase compared to the previous year, accounting for 5.06% of total revenue[71]. Acquisitions and Divestitures - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's production capacity by 30%[17]. - The company completed the acquisition of Shiji Biological, enhancing its presence in the veterinary vaccine sector[47]. - The company plans to divest its micro-fine enameled wire business, transferring all shares for 552.43 million yuan[47]. - The company acquired Shiji Biological and Nanjing Shiji in March 2021, expanding its veterinary vaccine business, primarily focusing on pig vaccines[62]. - The acquisition of Shiji Biological, effective April 1, 2021, contributed to the increase in sales and revenue[56]. Environmental and Social Responsibility - The company emphasizes corporate social responsibility, focusing on environmental protection and stakeholder engagement[165]. - The company received a special fund of 250,000 RMB from the Jinwan District Finance Bureau for its environmental initiatives[158]. - The company has established an education poverty alleviation fund to support impoverished students, ensuring educational equity and promoting healthy development[166]. - The company has implemented low-nitrogen burners in its gas boilers to reduce nitrogen oxide emissions, with ongoing installation of additional low-nitrogen boilers[157]. - The company confirmed that it is a key pollutant discharge unit as per environmental protection department announcements[155]. Governance and Management - The board of directors has confirmed that all financial reports are accurate and complete, with no significant omissions or misleading statements[4]. - The company has established specialized committees within the board, including a strategy committee and an audit committee, to enhance governance[112]. - The company emphasizes investor relations management, ensuring effective communication and transparency with investors[113]. - The company has a fully independent financial department with a standardized accounting system, ensuring independent financial decision-making and compliance with tax obligations[116]. - The company appointed Ding Chen as the new General Manager on December 15, 2021, replacing Han Taozi, to enhance long-term strategic development and governance[120]. Risks and Challenges - The company has identified potential risks in the supply chain and is implementing measures to mitigate these risks, ensuring operational stability[5]. - The company faces increased financial pressure due to rising copper prices, which are critical for its enameled wire production, impacting its business expansion[39]. - The company faces risks related to the sale of assets, including potential delays in regulatory approvals and the impact on revenue from exiting the fine enameled wire business[104]. - The company has identified risks in the new energy sector due to potential unfavorable changes in government policies affecting the electric vehicle market[105]. - The veterinary vaccine business is subject to market risks, including increased competition and changing regulatory standards that could impact demand[107]. Internal Control and Compliance - The internal control system has been updated and improved according to relevant regulations, effectively preventing operational risks[147]. - The company reported that there were no significant internal control deficiencies identified during the reporting period[148]. - The company has maintained effective internal control over financial reporting as of December 31, 2021, according to the internal control audit report[151]. - The company has a total of 100% of its assets and revenue included in the internal control evaluation report[149]. - The company has no stock incentive plans or employee stock ownership plans in place during the reporting period[146].

Financial Performance - The company's revenue for Q3 2021 reached ¥391,220,245.26, representing a 45.49% increase year-over-year[3] - Net profit attributable to shareholders was ¥9,147,217.48, a significant increase of 119.96% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses was ¥7,878,110.93, up 132.98% year-over-year[3] - Revenue for the first nine months reached ¥1,119,193,502.61, a 71.64% increase compared to ¥652,048,178.58 in the same period last year, driven by increased orders from Zhuhai Rongsheng and the inclusion of Chengdu Shiji's revenue[8] - Total operating revenue for the third quarter of 2021 reached ¥1,119,193,502.61, a significant increase from ¥652,048,178.58 in the same period of 2020, representing a growth of approximately 71.5%[17] - The company's net profit for the third quarter of 2021 was ¥30,804,840.88, a recovery from a loss of ¥223,116,987.21 in the same quarter of 2020[17] - The total profit for Q3 2021 was 30,611,610.12 CNY, compared to a loss of 223,209,210.13 CNY in the same period last year[19] - The net profit for Q3 2021 was 22,784,839.13 CNY, recovering from a net loss of 218,769,707.84 CNY in Q3 2020[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,474,129,543.01, reflecting a 26.29% increase from the end of the previous year[3] - Total assets as of September 30, 2021, amounted to ¥1,474,129,543.01, up from ¥1,167,240,757.94 at the end of 2020, representing a growth of approximately 26.2%[17] - Total liabilities increased to ¥619,052,267.02 from ¥418,612,402.20, indicating a rise of about 47.8%[16] - Total non-current assets amounted to CNY 406,629,533.25, with fixed assets contributing CNY 222,507,269.69[26] - Total liabilities reached CNY 418,612,402.20, with current liabilities accounting for CNY 367,178,995.26[27] Cash Flow - The company reported a net cash flow from operating activities of -¥15,249,972.12, a decrease of 74.34% compared to the previous year[3] - The cash flow from operating activities for Q3 2021 was -15,249,972.12 CNY, an improvement from -59,424,213.12 CNY in Q3 2020[22] - The total cash inflow from operating activities was 1,215,146,068.87 CNY, significantly higher than 634,128,033.10 CNY in the previous year[22] - The cash flow from investing activities generated a net inflow of 20,923,998.20 CNY, down from 157,095,163.60 CNY in Q3 2020[22] - The company reported a total cash outflow from financing activities of 101,945,104.67 CNY in Q3 2021, compared to 153,031,497.50 CNY in Q3 2020[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 42,556[11] - The largest shareholder, Guangdong Xianfeng Holdings Co., Ltd., holds 26.03% of shares, totaling 295,358,647 shares, with 292,200,000 shares pledged[11] - The second-largest shareholder, Xianfeng Holdings Group Co., Ltd., holds 14.03% of shares, totaling 159,152,000 shares, with 114,000,000 shares pledged[11] Strategic Developments - The company reached a mediation agreement regarding a financing lease contract dispute on October 18, 2021, which led to adjustments in previously accrued interest expenses[12] - The company has disclosed significant matters, including a notice of share reduction by shareholders holding more than 5% of shares, which exceeded 1%[12] - The company is continuing to use idle self-owned funds for cash management as of August 14, 2021[12] - The company is progressing with a merger fund investment as of August 11, 2021[12] - The company has announced the transfer of land use rights and ownership of buildings on August 14, 2021[12] - The company has disclosed plans for share reduction by major shareholders on July 1, 2021[12] - The company has made progress in acquiring equity and external investments as of July 2, 2021[12] Research and Development - R&D expenses increased by 50.70% to ¥41,482,078.88, up from ¥27,526,386.18, as Zhuhai Rongsheng intensified its R&D investments[8] - The company reported research and development expenses of ¥41,482,078.88 for the third quarter of 2021, compared to ¥27,526,386.18 in the same period of 2020, reflecting an increase of about 50.5%[17] Tax and Other Financial Metrics - Tax expenses increased by 276.30% to ¥7,826,770.99, compared to a tax benefit of -¥4,439,502.29 in the previous year, driven by profitability at Zhuhai Rongsheng and Chengdu Shiji[8] - Other income grew by 44.13% to ¥7,880,957.45, compared to ¥5,468,112.33, mainly due to higher government subsidies received during the reporting period[8] - Investment losses improved by 93.66%, with losses of ¥6,632,305.76 compared to ¥104,618,783.81 in the previous year, attributed to changes in the calculation method for last year's investment losses[8] - The fair value change income was ¥5,491,576.99, a significant recovery from a loss of ¥17,195,579.96, due to changes in the fair value of trading financial assets[8] - Other payables surged by 1240.78% to ¥278,497,157.72, up from ¥20,771,280.12, mainly due to strategic cooperation intention funds received from Zhuhai Rongsheng and payments due for Chengdu Shiji's equity transfer[8] - Deferred income tax liabilities rose by 87.12% to ¥13,894,401.20, compared to ¥7,425,364.71, primarily due to asset appraisal increases from Chengdu Shiji[8] - Minority interests increased by 277.82% to ¥57,780,851.80, compared to -¥32,494,465.70 in the previous year, mainly due to the consolidation of Chengdu Shiji[8] Audit and Compliance - The company has not conducted an audit for the third quarter report, which may affect the reliability of the financial data presented[29] - The implementation of the new leasing standards did not have a significant impact on the company's consolidated financial statements[28] - The company recognized right-of-use assets and lease liabilities amounting to CNY 9,876,515.35 and CNY 3,673,340.39 respectively as of January 1, 2019, and January 1, 2020[28]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥727,973,257.35, representing a 90.00% increase compared to ¥383,145,018.41 in the same period last year[23]. - The net profit attributable to shareholders of the listed company reached ¥8,843,196.16, a significant turnaround from a loss of ¥156,793,168.74 in the previous year, marking a 105.64% improvement[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥3,964,707.53, compared to a loss of ¥26,189,320.70 in the same period last year, reflecting a 115.14% increase[23]. - The basic earnings per share were ¥0.0078, recovering from a loss of ¥0.1382 per share in the previous year, indicating a 105.64% improvement[23]. - The company reported a net profit of ¥4,752,581.00 for the first half of 2021, a turnaround from a net loss of ¥147,709,550.51 in the first half of 2020[159]. - The gross profit margin improved to 0.6% in the first half of 2021, compared to a negative margin in the previous year[158]. - The company reported a comprehensive loss of CNY 11,735,253.64 during the period, indicating a significant decline in profitability compared to the previous period[186]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,534,729,848.38, which is a 31.48% increase from ¥1,167,240,757.94 at the end of the previous year[24]. - The total liabilities increased to CNY 690.29 million as of June 30, 2021, compared to CNY 418.61 million at the end of 2020, a 65% rise[152]. - The company's total assets reached CNY 1.53 billion, compared to CNY 1.17 billion at the end of 2020, a 31% increase[152]. - The total equity at the end of the reporting period is CNY 1,190,788,115.23, down from CNY 1,202,523,368.87 at the beginning of the year, reflecting a decrease of approximately 1.0%[186]. - The retained earnings at the end of the current period are CNY -233,092,297.18, indicating accumulated losses[183]. Cash Flow - The company reported a negative net cash flow from operating activities of ¥3,370,154.83, a decline of 135.72% compared to a positive cash flow of ¥9,434,015.51 in the same period last year[23]. - The net cash flow from financing activities was 53,144,375.54 yuan, a turnaround from -52,752,804.44 yuan in the same period of 2020[166]. - Total cash inflow from operating activities was 792,972,614.65 yuan, compared to 408,281,265.71 yuan in the first half of 2020, representing an increase of approximately 94%[166]. - Cash outflow from operating activities totaled 796,342,769.48 yuan, up from 398,847,250.20 yuan in the previous year, indicating a 99.6% increase[166]. Business Segments - The micro-fine enameled wire business achieved a revenue of 697.08 million yuan, representing a year-on-year growth of 81.98%, and a net profit of 27.92 million yuan, up 372.11%[33]. - The veterinary vaccine business generated a revenue of 78.49 million yuan, a 67.27% increase compared to the previous year, with a net profit of 34.82 million yuan, reflecting a growth of 442.63%[34]. - The enameled wire segment accounted for 95.99% of total revenue, with sales reaching ¥698,802,645.90, an increase of 82.39% year-on-year[42]. Research and Development - Research and development expenses rose by 39.52% to ¥24,043,508.96, driven by increased investment from subsidiaries[38]. - The company has established various research platforms for vaccine development, including gene engineering and large-scale fermentation processes[36]. - The veterinary vaccine business is focusing on multi-valent vaccines and gene-engineered vaccines as key R&D projects[34]. Environmental and Social Responsibility - The company emphasizes environmental protection and clean production, with no major environmental or social safety issues reported during the period[95]. - The company has established an emergency response plan for environmental incidents, with a validity period from December 4, 2018, to December 3, 2021[84]. - The company donated a total of 10,348.93 yuan for educational support to impoverished students in the first half of 2021[96]. Governance and Shareholder Relations - The company has implemented a robust governance structure to protect shareholder rights and enhance communication with investors[90]. - The company held two shareholder meetings in the first half of 2021, facilitating online voting for minority investors[90]. - The company has no significant litigation or arbitration matters during the reporting period[105]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[161]. - The company has not provided specific future guidance or outlook for the upcoming periods[178].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 312,798,252.98, representing a 96.81% increase compared to CNY 158,936,440.83 in the same period last year[8] - The net profit attributable to shareholders for Q1 2021 was CNY 4,693,041.82, a significant increase of 623.85% from CNY 648,343.31 in the previous year[8] - The net cash flow from operating activities reached CNY 15,954,968.13, marking a 276.59% improvement from a negative cash flow of CNY 9,035,076.61 in the same period last year[8] - Basic earnings per share for Q1 2021 were CNY 0.0041, up 583.33% from CNY 0.0006 in the previous year[8] - The company reported a net loss of ¥442,789,335.17 as of March 31, 2021, slightly improved from a loss of ¥447,404,127.94 at the end of 2020[33] - The total operating revenue for the first quarter of 2021 was CNY 312,798,252.98, an increase of 96.5% compared to CNY 158,936,440.83 in the same period last year[38] - The total operating costs amounted to CNY 315,614,191.38, up 71.4% from CNY 184,162,667.90 year-on-year[39] - The net profit for the first quarter was CNY 1,752,108.95, compared to a net loss of CNY 939,025.89 in the previous year[40] - The company reported a total comprehensive income of CNY 3,776,925.75, compared to a loss of CNY 1,063,193.51 in the previous year[40] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,480,632,200.59, reflecting a 26.85% increase from CNY 1,167,240,757.94 at the end of the previous year[8] - The total assets increased to CNY 1,596,225,517.88, up from CNY 1,262,028,385.96 year-on-year, reflecting a growth of 26.5%[36] - The total liabilities of the company as of March 31, 2021, were ¥631,220,477.09, up from ¥418,612,402.20 at the end of 2020, indicating an increase of about 50.7%[32] - The total liabilities rose to CNY 586,252,991.24, compared to CNY 249,755,661.94 in the previous year, marking an increase of 134.7%[36] - The company's inventory rose to ¥186,543,573.79 from ¥132,252,604.59, marking an increase of approximately 41%[30] Cash Flow - Cash and cash equivalents increased by 333.48% to ¥159,953,811.57 due to the consolidation of Chengdu Tianbang Biological Products Co., Ltd. and Nanjing Shiji Biotechnology Co., Ltd.[16] - Cash flow from operating activities increased by 103.69% to ¥341,530,892.02, attributed to higher sales in the enameled wire business[17] - The cash flow from operating activities generated a net inflow of ¥15,993,341.53, compared to a net outflow of ¥9,035,076.61 in the previous year[46] - The financing activities resulted in a net cash inflow of ¥95,869,066.04, compared to a net outflow of ¥4,214,535.46 in the previous year[47] Government Subsidies - The company received government subsidies amounting to CNY 5,663,656.07 during the reporting period[9] - The company received government subsidies amounting to ¥5,663,656.07, a 63.32% increase compared to the previous year[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 45,763[12] - The net assets attributable to shareholders increased to CNY 787,744,998.41, a slight rise of 0.85% from CNY 781,105,388.84 at the end of the last year[8] Strategic Outlook - The company plans to continue expanding its market presence through strategic acquisitions and investments in new technologies[19] - The company has not disclosed any key performance indicators in the available documents[58][59] - Future outlook and performance guidance are not detailed in the available reports[58][59] Operational Integrity - The company has no overdue or unrecovered amounts related to entrusted financial management, indicating a stable financial management strategy[25] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period, ensuring financial integrity[26] - The company has not reported any significant contracts or major operational changes during the reporting period, suggesting stability in operations[27] - The company has not conducted any research, communication, or interview activities during the reporting period, indicating a focus on internal operations[27]

Financial Performance - The company's operating revenue for 2020 was approximately ¥963.66 million, a decrease of 2.62% compared to ¥989.54 million in 2019[20]. - The net profit attributable to shareholders of the listed company was a loss of approximately ¥544.63 million, a significant decline of 6,901.58% from a profit of ¥8.01 million in 2019[20]. - The net cash flow from operating activities was negative at approximately ¥113.07 million, a decrease of 349.52% compared to ¥45.32 million in 2019[20]. - The basic earnings per share for 2020 was -¥0.4800, compared to ¥0.0071 in 2019, reflecting a decline of 6,860.56%[20]. - The company's diluted earnings per share for 2020 was -0.4800, a decrease of 6,860.56% compared to the previous year[21]. - Total assets at the end of 2020 were approximately ¥1.167 billion, a decrease of 38.38% from the previous year[21]. - The net profit attributable to shareholders for 2020 was -¥342 million in Q4, contributing to a total annual revenue of approximately ¥964 million, down from ¥990 million in 2019[26]. - The company reported a net cash flow from operating activities of -¥53.6 million in Q4 2020[26]. - The revenue from the enameled wire business was the primary source of income, with total revenue after deductions amounting to approximately ¥960 million in 2020[22]. - The company faced significant non-recurring losses in 2020, totaling approximately -¥335 million[28]. - The weighted average return on net assets was -48.89% at the end of 2020, reflecting a substantial decline from the previous year[21]. Operational Changes - The company plans not to distribute cash dividends or issue bonus shares for the year[7]. - The company has not reported any changes in its main business since its listing[19]. - The company has engaged Beijing Xinghua Accounting Firm for auditing services during the reporting period[20]. - The company has acknowledged the need for retrospective adjustments due to accounting errors in previous years[20]. - The company decided to dissolve its Shenzhen and Huizhou new energy subsidiaries due to ongoing operational difficulties and significant uncertainty regarding their future[42]. - The company reported a significant decline in revenue from the new energy sector, which dropped to ¥0.00 from ¥39,981,362.57 in 2019, marking a 100% decrease[44]. - The company has established multiple dedicated workshops for domestic and international clients, enhancing its production capabilities[31]. - The company successfully developed multiple major clients during the pandemic, enhancing its market presence[40]. - The company implemented cost control measures and improved internal management to mitigate operational risks[40]. - The company aims to lead the industry in green and healthy development, establishing itself as a pollution-free enterprise in the enameled wire sector[32]. Research and Development - R&D expenses rose by 2.30% to 35.27 million CNY, reflecting the company's commitment to innovation[39]. - The company has established a dedicated R&D team and has been awarded 11 various honors and qualifications in 2020, including a provincial engineering technology research center[41]. - In 2021, the company will strengthen R&D investment and improve product quality in the animal vaccine business[83]. - The company aims to enhance its production capabilities in the enameled wire sector, focusing on high-precision components for 5G communications and new energy vehicles[82]. Financial Management - The company has established an employee stock ownership plan to retain key personnel and reduce talent loss risks[86]. - The company will closely monitor copper price fluctuations, implementing annual procurement plans to lock in prices and mitigate risks[86]. - The company has committed to ongoing training for financial personnel to ensure compliance with accounting standards and disclosure regulations[113]. - The company has established a system for regular impairment testing of long-term equity investments to ensure accurate financial reporting[113]. - The company has no significant equity investments or securities investments during the reporting period[70][71]. Governance and Compliance - The company emphasizes the importance of internal control and governance structures to manage operational risks effectively[86]. - The company has implemented corrective measures to improve information disclosure practices, including regular training for management and stricter compliance with reporting procedures[110]. - The company has committed to ongoing training for board members and management on information disclosure and compliance with new securities laws[111]. - The company has established internal management guidelines to ensure timely reporting of financial data and significant events from subsidiaries[110]. - The audit opinion issued by the accounting firm was a standard unqualified opinion, confirming the fair presentation of the financial statements[200]. Shareholder Relations - The company actively manages investor relations, ensuring transparent communication and safeguarding investor rights[181]. - The company held a total of 6 temporary shareholder meetings in 2020, with investor attendance rates ranging from 40.13% to 46.66%[185]. - The company has 49,154 total shareholders at the end of the reporting period, an increase from 45,763 in the previous month[147]. - The company has implemented a lock-up period for certain shares, with specific release dates tied to executive departures[144]. - The company is actively negotiating with creditors to reach a repayment plan and settlement agreement to lift the judicial freeze on shares[150]. Environmental Responsibility - The company emphasizes environmental protection and safety production, fulfilling its corporate social responsibility[132]. - Zhuhai Rongsheng has implemented a systematic management approach to clean production, emphasizing environmental protection and sustainable development[135]. - The company has obtained a new national pollutant discharge permit, valid from June 12, 2020, to June 11, 2023[136]. - Environmental protection measures include significant improvements in the treatment efficiency of organic waste gas, with advanced catalytic waste gas treatment devices installed[135]. Employee Management - The total number of employees in the company is 870, with 585 in production, 58 in sales, 123 in technology, 27 in finance, and 77 in administration[176]. - The company emphasizes employee training and knowledge sharing to improve team collaboration and professional skills[176]. - The company has a clear separation from its controlling shareholder in terms of business operations, personnel, assets, and finances[182].

Financial Performance - Operating revenue for the reporting period was CNY 268,903,160.17, an increase of 6.39% compared to the same period last year[8] - Net profit attributable to shareholders of the listed company was a loss of CNY 45,825,842.81, a decrease of 320.07% year-on-year[8] - Basic earnings per share were CNY -0.0404, a decrease of 320.83% year-on-year[8] - The weighted average return on net assets was -3.97%, down 3.15% from the previous year[8] - The estimated cumulative net profit for the year is projected to be between -46,000 and -39,000 thousand yuan, representing a significant decrease compared to the previous year's profit of 800.74 thousand yuan, which is a decline of approximately 5,844.69%[23] - The basic earnings per share are expected to decrease to between -0.4054 and -0.3437 yuan per share, compared to 0.0071 yuan per share last year, indicating a decline of about 5,809.86%[23] - The company anticipates a substantial decline in net profit for 2020 primarily due to the impact of the pandemic on its main business operations and significant uncertainties in the recovery of its new energy business[23] - The company reported a total revenue from sales of goods and services of 602,952,403.30 CNY, compared to 601,074,433.27 CNY in the previous year, showing slight growth[53] Asset and Liability Overview - Total assets at the end of the reporting period were CNY 1,455,144,792.42, a decrease of 21.12% compared to the end of the previous year[8] - Net assets attributable to shareholders of the listed company were CNY 1,128,012,851.93, down 21.28% year-on-year[8] - The total liabilities as of September 30, 2020, are 285,263,834.82 yuan, down from 347,356,806.33 yuan at the end of 2019[34] - The company's total equity decreased to CNY 1,192,681,777.85 from CNY 1,202,523,368.87, reflecting a decline of 0.7%[37] - Total liabilities amounted to ¥98,752,492.10, with non-current liabilities at ¥255,804.16[65] - Total equity reached ¥1,202,523,368.87, including a negative retained earnings of ¥43,285,707.20[65] Cash Flow and Investment Activities - The net cash flow from operating activities was a negative CNY 68,858,228.63, a decline of 490.21% compared to the same period last year[8] - Cash received from investment recoveries increased by 153.16% to ¥142,856,325.82, primarily from capital reductions in external investments[17] - Investment activities generated a net cash inflow of 157,095,163.60 CNY, a significant improvement from -3,660,761.99 CNY in the same period last year[54] - Cash outflow from operating activities totaled 693,552,246.22 CNY, compared to 669,829,744.39 CNY in the previous year, indicating increased operational costs[53] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 49,970[12] - The largest shareholder, Guangdong Xianfeng Holdings Co., Ltd., held 26.03% of the shares, with 295,358,647 shares frozen[12] Changes in Financial Position - The company reported an investment loss of ¥104,618,783.81, a decline of 410.52% compared to the previous year, mainly due to the sale of SNK shares[17] - The fair value change loss amounted to ¥17,195,579.96, reflecting a significant decrease of 7,668.11% due to market price fluctuations of trading financial assets[17] - The company completed the acquisition of a 70% stake in its subsidiary Zhuhai Zhongjing, with a transaction value of ¥850,000, which will not affect the current year's profit[18] Operational Efficiency and Future Outlook - The company has indicated a focus on improving operational efficiency and reducing costs in future quarters to enhance profitability[43] - The company experienced a 34.72% decrease in tax refunds received, amounting to ¥13,085,703.95, primarily due to reduced export tax rebates[17] - The company has not undergone an audit for the third quarter report[66]