Financial Performance - The company's operating revenue for the first half of 2022 was CNY 639,943,221.95, a decrease of 38.94% compared to CNY 1,047,990,108.52 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was a loss of CNY 297,345,982.57, a decline of 274.79% from a profit of CNY 170,116,954.68 in the previous year[24]. - The net cash flow from operating activities was negative CNY 204,150,480.18, a decrease of 203.35% compared to a positive cash flow of CNY 197,525,801.00 in the same period last year[24]. - The basic earnings per share were negative CNY 0.85, down 257.41% from CNY 0.54 in the previous year[24]. - The total assets at the end of the reporting period were CNY 3,784,090,204.56, a decrease of 1.49% from CNY 3,841,190,886.27 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company were CNY 2,828,380,690.87, down 9.51% from CNY 3,125,726,673.44 at the end of the previous year[24]. - The weighted average return on net assets was negative 9.99%, a decrease of 15.87% from 5.88% in the previous year[24]. - The company reported a total sales volume of 30,413 tons of chicken products in the first half of 2022, slightly down from 30,698 tons in the same period of 2021[53]. - The cost structure for chicken products shows raw materials accounted for 83.41% of total operating costs in the first half of 2022, compared to 84.39% in the same period of 2021[53]. - The gross margin for the poultry industry decreased by 57.73% due to a significant drop in product sales prices[61]. Operational Developments - The company is progressing well with the construction of its parent breeding farm project, with some facilities completed and expected to start raising breeding chickens in the second half of the year[31]. - The company has officially commenced production at its cooked food factory, with ongoing efforts to enhance production and sales capabilities[31]. - The company’s broiler chick production capacity exceeds 300 million chicks, with plans to increase capacity by an additional 100 million chicks per year through private fundraising projects[36]. - The company is expanding into downstream processed chicken products, with plans to add 60,000 tons of meat products, which are expected to provide stable profits[36]. - The company has established a comprehensive industrial chain that includes breeding, processing, and recycling, aiming to enhance competitiveness by addressing weak links in the industry[36]. - The company has developed advanced breeding technologies, including a unique "three-stage all-in-all-out" cage rearing system, which improves survival rates and reduces disease risks[39]. - The company operates a complete business chain centered on parent stock broiler chicken breeding and the production of commercial broiler chicks, with a focus on unified management and decentralized operations[44]. Risk Factors - The company faces risks including disease prevention and control, price fluctuations of products, and rising raw material costs[6]. - The parent stock breeding is the company's core asset, with strict disease control measures in place; however, external outbreaks can significantly impact sales prices and overall performance[45]. - The company is exposed to risks from rising raw material prices and labor costs, which could adversely affect its cost management[85]. - The company faces risks from price fluctuations in its main product, broiler chicks, which significantly impact its profitability[84]. Financial Management - The company has established a unified procurement system, primarily sourcing parent broiler chicks and feed ingredients based on production needs and market forecasts[46]. - The company has a diverse procurement strategy for raw materials to mitigate risks associated with price fluctuations[85]. - The company has implemented a quality control system in compliance with national food safety regulations to mitigate food safety risks[87]. - The company has not engaged in any securities or derivative investments during the reporting period[69][70]. - The company reported a total of CNY 167,248,048.30 in restricted assets, including CNY 91,087,924.06 in cash and CNY 63,294,293.43 in fixed assets[66]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The total number of shareholders at the end of the reporting period was 40,689[140]. - The actual controller of the company changed due to inheritance, with the new controllers being Sun Ximin, Sun Xianfa, and Sun Xianqiu[129]. - The total number of shares before the change was 348,960,212, with 27.48% being restricted shares and 72.52% being unrestricted shares[134]. Environmental and Social Responsibility - The company has established a comprehensive disease prevention and control system to mitigate risks associated with avian influenza, which poses a significant threat to the poultry industry[83]. - The company has donated 2 million yuan to support pandemic prevention efforts in Yantai City[104]. - The company has developed a complete ecological agricultural recycling industry chain, enhancing resource efficiency and environmental protection[102]. - The company has actively engaged in social welfare activities, supporting education and poverty alleviation initiatives[104]. - The company operates a wastewater treatment facility with a design capacity of 1,200 m³/day, utilizing advanced treatment technology[98]. - The company has established a solid waste management system, ensuring all solid waste is disposed of by qualified companies[99]. Governance and Compliance - The company has undergone changes in its board of directors, with new appointments made on April 22, 2022[91]. - The company did not have any major litigation or arbitration matters during the reporting period[112]. - There were no significant related party transactions during the reporting period[113]. - The semi-annual financial report for 2022 was not audited[153]. - The company has not reported any significant changes in accounting policies or prior period adjustments during this reporting period[176].

Financial Performance - The company's revenue for Q1 2022 was ¥247,002,485.28, a decrease of 51.17% compared to ¥505,819,871.19 in the same period last year[4] - The net profit attributable to shareholders was -¥182,873,527.70, representing a decline of 236.08% from ¥134,387,730.43 year-on-year[4] - Basic and diluted earnings per share were both -¥0.52, down 218.18% from ¥0.44 in the same period last year[4] - Net profit for Q1 2022 was a loss of CNY 185,441,616.38, compared to a profit of CNY 133,778,172.52 in Q1 2021, representing a significant decline[19] Cash Flow - The net cash flow from operating activities was -¥129,024,483.15, a drop of 212.04% compared to ¥115,155,963.71 in the previous year[4] - Cash inflow from operating activities totaled 265,218,191.37, down from 519,696,790.59, representing a decrease of approximately 48.9%[22] - Cash outflow from operating activities was 394,242,674.52, slightly decreased from 404,540,826.88, indicating a reduction of about 2.9%[22] - The net cash flow from financing activities increased by 388.39% to ¥247,839,509.02, driven by an increase in bank borrowings[7] - The net cash flow from investing activities was -9,709,949.83, an improvement from -75,327,032.22 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,892,067,563.00, an increase of 1.32% from ¥3,841,190,886.27 at the end of the previous year[4] - The company's total liabilities increased to CNY 949,566,753.25, up 33.1% from CNY 713,448,460.14 year-on-year[17] - Total equity attributable to shareholders decreased to CNY 2,942,853,145.74, down 6.0% from CNY 3,125,726,673.44 in the previous year[17] Research and Development - Research and development expenses increased by 101.51% to ¥3,916,687.99 from ¥1,943,710.60 in the previous year, indicating a focus on product development[7] - Research and development expenses for Q1 2022 were CNY 3,916,687.99, an increase of 101.5% compared to CNY 1,943,710.60 in Q1 2021[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 40,081[9] - The largest shareholder, Sun Xianfa, holds 17.39% of shares, totaling 60,667,348 shares[9] Borrowings and Financing - The company reported a significant increase in short-term borrowings, rising by 60.09% to ¥676,150,000.00 from ¥422,350,000.00[7] - The company plans to publicly issue convertible bonds totaling ¥540 million with a term of 6 years[11] - The company has authorized the board to handle all matters related to the issuance of convertible bonds[11] Inventory and Current Assets - The company reported a decrease in inventory from ¥493,741,725.98 to ¥474,632,279.08, a decline of about 3.5%[15] - Total current assets increased to ¥1,613,216,303.72 from ¥1,570,827,071.35, a growth of approximately 2.5%[15] - Cash and cash equivalents rose to ¥760,716,765.37 from ¥656,030,440.61, an increase of about 15.9%[14] Sales and Operating Costs - Total operating costs increased to CNY 415,961,156.49, up 12.0% from CNY 371,274,873.65 year-on-year[18] - The company reported a significant increase in sales expenses, which rose to CNY 10,385,649.37, up 42.5% from CNY 7,290,305.74 year-on-year[18] Audit and Reporting - The company did not undergo an audit for the first quarter report[24]

Biosecurity and Disease Management - The company reported a significant focus on biosecurity measures, being recognized as a "highly pathogenic avian influenza biosecurity isolation zone" by the Ministry of Agriculture, which enhances its ability to manage disease risks[5]. - The company has developed a robust disease prevention system over 30 years, which includes training skilled management and technical personnel to mitigate disease outbreaks[5]. - The company acknowledges the potential impact of external disease outbreaks on consumer perceptions and market demand, which could adversely affect its financial performance[5]. Financial Performance - The company's operating revenue for 2021 was ¥1,775,432,179.30, representing a 5.56% increase compared to ¥1,681,883,981.38 in 2020[24]. - The net profit attributable to shareholders for 2021 was ¥47,609,674.22, a decrease of 28.60% from ¥66,675,728.92 in 2020[24]. - The net cash flow from operating activities decreased by 82.01% to ¥42,672,842.37 in 2021 from ¥237,190,334.58 in 2020[24]. - The total assets at the end of 2021 were ¥3,841,190,886.27, a 15.60% increase from ¥3,322,913,939.08 at the end of 2020[24]. - The net assets attributable to shareholders increased by 19.20% to ¥3,125,726,673.44 at the end of 2021 from ¥2,622,335,065.78 at the end of 2020[24]. - The basic earnings per share for 2021 was ¥0.14, down 36.36% from ¥0.22 in 2020[24]. - The company reported a significant decline in net profit for the fourth quarter of 2021, with a loss of ¥118,793,194.83[28]. Product and Market Expansion - The main product, broiler chicks, has experienced price volatility, impacting the company's profitability; the company aims to reduce reliance on chick sales by expanding into broiler farming and processing[6]. - The company is expanding its product offerings and market reach, particularly in the processed chicken segment, to enhance its competitive position[6]. - The company is expanding into downstream processing, aiming to add 60,000 tons of meat products, which will provide stable revenue due to the profitability of processed chicken products[39]. - The company has established a comprehensive industrial chain that includes breeding, broiler production, slaughtering, and deep processing, enhancing its competitive edge[39]. Environmental Initiatives - The company plans to invest in environmental protection initiatives, including biogas projects, to manage waste and comply with increasing regulatory standards[8]. - The company is committed to sustainable practices, integrating agricultural and livestock operations to create a circular economy in its production processes[8]. - The company has established a wastewater treatment facility with a design capacity of 1,200 m³/day, utilizing advanced treatment processes[142]. - The company reported no significant environmental violations, with all pollutant emissions within regulatory limits[142]. - The company has implemented online monitoring equipment for wastewater discharge, enhancing compliance and environmental responsibility[142]. Research and Development - The company continues to invest in research and development to enhance its core competitiveness and adapt to market demands[55]. - The company is developing a 3D environmental monitoring system for poultry, aimed at enhancing health monitoring and management efficiency[72]. - The company is focusing on developing functional organic water-soluble fertilizers to meet the needs of high-efficiency ecological agriculture[72]. - In 2021, the company's R&D investment amounted to ¥10,609,931.04, an increase of 28.48% compared to ¥8,258,148.49 in 2020[75]. - The number of R&D personnel increased by 70.83% from 48 in 2020 to 82 in 2021, with a notable rise in the proportion of personnel holding bachelor's degrees from 62.50% to 62.20%[73]. Governance and Management - The company adheres to strict governance practices, ensuring compliance with relevant laws and regulations to maintain operational integrity[102]. - The company has a total of 9 board members, including 3 independent directors, and operates under strict governance guidelines[103]. - The company emphasizes independent operations, maintaining complete business systems and financial independence from its controlling shareholder[105]. - The company has established performance evaluation standards and incentive mechanisms for directors and senior management, ensuring transparency in appointments[104]. - The company has a robust information disclosure management system, ensuring timely and accurate communication with shareholders[104]. Shareholder and Financial Structure - The company has not declared any cash dividends or stock bonuses for the reporting period, indicating a focus on reinvestment[10]. - The company has a total of 156 employees with a bachelor's degree or higher, highlighting the educational background of its workforce[127]. - The total number of shares held by the board members at the end of the reporting period is 127,856,000 shares[109]. - The company has a total of 9 board members, with diverse backgrounds in agriculture and management[110]. - The company’s controlling shareholder is Sun Ximin, who has not changed during the reporting period[195]. Social Responsibility - The company actively engages in social responsibility initiatives, including donations for education and support for local communities during the pandemic[148]. - The company invested over 800,000 RMB in rural revitalization and new rural construction, including 150,000 RMB in sponsorship for local villages[149]. - The company emphasizes employee welfare, providing training and development opportunities to enhance employee satisfaction and retention[146]. Challenges and Market Conditions - The company faces risks from rising raw material costs, particularly corn and soybean meal, which are influenced by various external factors including government policies and international trade[6]. - The overall industry is facing low profitability due to high feed prices and market pressures, impacting the company's slaughtering operations[34]. - The company has faced multiple pressures, including the impact of the COVID-19 pandemic and rising commodity prices, which have affected its operational strategies[97].

证券代码：002234 证券简称：民和股份 公告编号：2021-080 山东民和牧业股份有限公司 关于参加山东辖区上市公司 2021 年度 投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，增强与广大投资者的联系，切实提高上 市公司透明度、规范运作和治理水平，山东民和牧业股份有限公司（以下简称"本 公司"或"公司"）将于2021年11月16日（星期二）下午14：00-16：00参加 "山东辖区上市公司2021年度投资者网上集体接待日活动"，现将有关事项公 告如下： 本次投资者网上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 平台采取网络远程方式举行，投资者可以登录全景•路演天下（http://rs.p5w.net）） 参与本次活动。 公司出席本次活动的人员有：公司董事、副总经理兼董事会秘书张东明先生、 证券事务代表高小涛先生，欢迎广大投资者积极参与。 特此公告。 山东民和牧业股份有限公司董事会 二〇二一年十一月十二日 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 403,975,249.85, an increase of 4.17% year-on-year, and a total of CNY 1,451,965,358.37 for the year-to-date, up 12.57% compared to the same period last year[3] - The net profit attributable to shareholders of the listed company was a loss of CNY 3,714,085.63, a decrease of 97.58% year-on-year, while the year-to-date net profit was CNY 166,402,869.05, an increase of 111.40%[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 17,026,104.47, down 88.93% year-on-year, with a year-to-date figure of CNY 147,484,416.99, an increase of 84.16%[3] - The company reported a total comprehensive income of ¥163,842,223.83, which is a 110.8% increase from the previous year's ¥77,545,085.39[18] - Net profit for the period was ¥163,842,223.83, representing a significant increase of 110.8% from ¥77,545,085.39 in the previous year[18] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,790,125,245.78, representing a 14.06% increase from the end of the previous year[3] - The total assets increased to ¥3,790,125,245.78 from ¥3,322,913,939.08, reflecting a growth of 14.1%[17] - The total liabilities decreased to ¥541,534,667.60 from ¥694,047,518.17, indicating a reduction of approximately 22%[17] - The company’s total liabilities decreased slightly, indicating improved financial stability[25] - The total equity attributable to shareholders reached CNY 2,622,335,065.78, with retained earnings of CNY 1,191,454,087.30[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 41,029[9] - The largest shareholder, Sun Ximin, holds 27.03% of shares, totaling 94,310,000 shares[9] Cash Flow and Financing - The company reported a significant increase in cash flow from financing activities, with a net cash flow of CNY 361,296,408.91, a 711.29% increase compared to the previous year[7] - The net cash flow from financing activities increased to CNY 361,296,408.91, compared to a net outflow of CNY 59,103,821.33 in Q3 2020[22] - The net cash flow from operating activities for Q3 2021 was CNY 191,982,232.37, a decrease of 14.8% compared to CNY 225,490,040.19 in Q3 2020[21] Investment and Expenses - The company’s investment income decreased by 86.29% to CNY 1,625,601.89, attributed to reduced profits from associated companies[7] - Research and development expenses rose to ¥7,010,215.04, compared to ¥5,561,517.86, indicating a year-over-year increase of 25.9%[17] - Cash outflow for investment activities was CNY 642,413,712.24, up from CNY 458,061,905.59 in Q3 2020, indicating increased investment spending[21] Other Financial Metrics - Basic and diluted earnings per share improved to ¥0.51, compared to ¥0.26 in the same quarter last year, reflecting a growth of 96.2%[18] - The company has proposed to recognize an asset impairment provision amounting to 37,684,048.94 RMB[12] - The company adjusted its financial statements in accordance with new leasing standards, impacting the balance sheet[23] - The third-quarter report was not audited, indicating that the figures may be subject to adjustments[27]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,047,990,108.52, representing a 16.18% increase compared to CNY 902,052,532.62 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 26.78% to CNY 170,116,954.68 from CNY 232,326,381.45 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 164,510,521.46, down 29.66% from CNY 233,864,896.57 year-on-year[17]. - The net cash flow from operating activities increased by 13.75% to CNY 197,525,801.00 compared to CNY 173,649,122.44 in the same period last year[17]. - Basic earnings per share decreased by 29.87% to CNY 0.54 from CNY 0.77 in the same period last year[17]. - The weighted average return on equity was 5.88%, down from 8.14% in the previous year[17]. - The gross profit margin for the livestock industry was 30.16%, a decrease of 2.31% compared to the previous year[52]. - The total operating costs amounted to CNY 802,555,595.10, up 17.6% from CNY 682,263,477.35 year-on-year[139]. - The company's total equity attributable to shareholders reached ¥2,628,866,420.91, reflecting an increase from the previous period[150]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,854,112,211.43, a 15.99% increase from CNY 3,322,913,939.08 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company increased by 23.87% to CNY 3,248,233,953.90 from CNY 2,622,335,065.78 at the end of the previous year[17]. - Cash and cash equivalents at the end of the reporting period amounted to 841,036,827.00, representing 21.82% of total assets, a decrease of 0.61% compared to the previous year[57]. - Accounts receivable increased to 39,465,746.86, accounting for 1.02% of total assets, up by 0.20% due to an increase in sales receivables[57]. - Inventory stood at 377,499,977.53, which is 9.79% of total assets, showing a decrease of 1.49% from the previous year[57]. - Long-term equity investments were recorded at 307,660,218.48, making up 7.98% of total assets, down by 1.32%[57]. - Fixed assets totaled 1,241,018,216.55, representing 32.20% of total assets, a decrease of 5.67% compared to the previous year[57]. - Current liabilities decreased to CNY 498,195,053.87 from CNY 606,796,108.60, a reduction of 17.9%[136]. Investment and Financing Activities - The company completed a private placement of 46,913,580 shares, raising a total of RMB 570 million to support its cooked food and breeding projects[24]. - The company plans to issue convertible bonds to expand its broiler breeding and slaughter processing business, enhancing its profitability and risk resistance[24]. - The company reported a significant increase in investment activities cash flow, which decreased to -¥483,187,816.50, a 2,029.99% change due to increased financial investment expenditures[47]. - The company raised a total of CNY 569,999,997 through a private placement, with a net amount of CNY 560,469,997 after deducting related expenses[121]. - The cash outflow for investment activities was ¥650,925,768.02, significantly higher than the previous period's outflow of ¥244,096,500.37, indicating increased investment activity[149]. Business Operations - The company sold 166 million broiler chicks and over 30,000 tons of chicken products, maintaining stable production and sales[25]. - The company’s breeding capacity for broiler chicks exceeds 300 million, with plans to increase capacity by an additional 10 million chicks per year through new projects[30]. - The company is expanding into downstream processing of chicken products, with plans to add 60,000 tons of processed products, providing stable revenue[30]. - The company has established a comprehensive industrial chain from breeding to processing, aiming to enhance competitiveness by filling gaps in the downstream sector[30]. - The company operates a complete business chain centered on parent stock broiler chicken breeding and the production of commercial broiler chicks, with a focus on unified management and decentralized operations[36]. Risk Management - The company faces risks including disease prevention and control, product price fluctuations, and rising raw material costs[5]. - The company has implemented measures to mitigate risks from avian diseases and environmental regulations, ensuring compliance and operational stability[69]. - The company faces risks related to price fluctuations of raw materials and labor costs, which could adversely affect operational performance[68]. Corporate Governance and Compliance - The company has revised and improved its articles of association and information disclosure management system to enhance corporate governance and protect shareholder rights[81]. - The company has established a comprehensive quality control system in accordance with national food safety laws and regulations[70]. - The company has not faced significant adverse impacts from major diseases or natural disasters during the reporting period[41]. - There were no significant lawsuits or penalties reported during the reporting period, indicating stable operational compliance[91][92]. Research and Development - The company's research and development investment increased by 66.84% to ¥4,577,151.49, up from ¥2,743,488.01, reflecting a commitment to enhancing breeding and cooked chicken product development[47]. - Research and development expenses increased to CNY 4,577,151.49, up 66.9% from CNY 2,743,488.01 in the previous year[139]. Community Engagement - The company contributed a total of 180,000 RMB to local infrastructure projects and educational support for impoverished students during the reporting period[82]. - The company has actively supported local farmers through a "company + distributor + farmer" model, enhancing their income and confidence in the poultry industry[82].

山东民和牧业股份有限公司 2021 年第一季度报告全文 山东民和牧业股份有限公司 2021 年第一季度报告 2021 年 04 月 1 山东民和牧业股份有限公司 2021 年第一季度报告全文 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。 公司负责人孙希民、主管会计工作负责人曲平及会计机构负责人(会计主管人员)胡月贞 声明：保证季度报告中财务报表的真实、准确、完整。 2 山东民和牧业股份有限公司 2021 年第一季度报告全文 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） | 505,819,871.19 | 442,010,063.38 | 14.44% | | 归属于上市公司股东的净利润（元） | 134,387,730.43 | 146,555, ...

Financial Performance - The company's operating revenue for 2020 was ¥1,681,883,981.38, a decrease of 48.66% compared to ¥3,276,052,000.43 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥66,675,728.92, down 95.86% from ¥1,609,973,794.84 in 2019[21]. - The net cash flow from operating activities was ¥237,190,334.58, representing an 86.35% decline from ¥1,737,331,871.88 in 2019[21]. - The basic earnings per share for 2020 was ¥0.22, a decrease of 95.87% compared to ¥5.33 in 2019[21]. - The company's total operating revenue for 2020 was ¥1,681,883,981.38, a decrease of 48.66% compared to ¥3,276,052,000.43 in 2019[58]. - The revenue from the poultry industry was ¥1,635,117,136.46, accounting for 97.22% of total revenue, with a year-on-year decline of 49.33%[58]. - The sales revenue from chicks decreased by 61.22% to ¥875,557,063.47, primarily due to a significant drop in selling prices[58]. - The gross profit margin for the poultry segment was 20.32%, down from the previous year, with a gross profit of ¥332,175,447.65[60]. - The company reported a total sales volume of 32,415,000 chicks, an increase of 9.89% from 29,497,000 in 2019[61]. - The revenue from chicken products was ¥664,321,347.81, representing 39.50% of total revenue, with a decline of 21.94% compared to the previous year[58]. Shareholder Returns - The company reported a profit distribution plan of 3 RMB per 10 shares (including tax) based on 348,960,212 shares, with no bonus shares issued[10]. - The cash dividend for 2020 represents 157.01% of the net profit attributable to ordinary shareholders, which was RMB 66,675,728.92[101]. - In 2019, the company distributed a cash dividend of RMB 6.00 per 10 shares, amounting to RMB 181,227,979.20, which was 11.26% of the net profit attributable to ordinary shareholders[101]. - The total distributable profit for the year 2020 was RMB 1,191,454,087.30, with the cash dividend accounting for 100% of this amount[103]. - The company has not proposed any stock bonus or capital reserve transfer to increase share capital for the year 2020[104]. Operational Challenges - The main product, broiler chick prices, is subject to significant fluctuations, impacting the company's profitability due to its high gross margin and elasticity[6]. - The company faces risks from raw material price volatility, particularly for corn and soybean meal, which are influenced by various market factors[8]. - Labor costs and utility expenses are rising, contributing to increased operational costs for the company[8]. - The company faces significant risks related to disease prevention and control, which is a major risk in the breeding industry[38]. Environmental and Sustainability Efforts - The company is investing in environmental protection measures, including biogas projects, to comply with stricter regulations and enhance sustainability[9]. - The company has developed a complete ecological agricultural cycle, transforming waste into organic fertilizers and biogas, contributing to sustainable development[140]. - The company has implemented strict measures for environmental protection, including regular monitoring of noise and wastewater emissions, with no violations reported[142]. - The company has a wastewater treatment facility with a design capacity of 1,200 m³/day, ensuring compliance with environmental standards[142]. Research and Development - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development efforts[10]. - The company has developed technologies for artificial insemination and broiler breeding, enhancing fertilization rates and reducing feed costs[34]. - The number of R&D personnel increased by 60% to 48, although their proportion of total employees decreased to 0.51%[73]. - The company applied for 2 new patents and was granted 3 new utility model patents during the reporting period[73]. Corporate Governance - The company has maintained a continuous relationship with the auditing firm Zhongxinghua CPA for 15 years, with the current auditors having served for 3 and 2 years respectively[112]. - The company has no violations regarding external guarantees during the reporting period[128]. - The governance structure complies with the latest regulations and has not faced any administrative penalties from regulatory bodies[177]. - The board consists of 9 members, including 3 independent directors, and operates under established committees[178]. Market Position and Strategy - The company is recognized as a leading enterprise in the poultry industry, holding various industry positions and certifications, including BRC and ISO certifications[45]. - The company has established a comprehensive sales network covering Shandong province and surrounding areas, focusing on direct sales to large and medium-sized breeding enterprises[40]. - The company is focused on developing a modern agricultural industry chain that integrates poultry breeding and biotechnology[95]. - The company plans to further develop food deep processing business to extend its industrial chain and enhance ecological balance and safety[44]. Financial Management - The company has entrusted financial management with a total amount of 24,000,000 CNY, including 9,000,000 CNY in bank financial products and 15,000,000 CNY in broker financial products[130]. - The company did not engage in any related party transactions during the reporting period[119]. - The company has an independent financial accounting system, enabling it to make autonomous financial decisions without sharing bank accounts with the controlling shareholder[181]. Employee and Management Structure - The total number of employees in the company is 4,531, with 3,283 in the parent company and 1,248 in major subsidiaries[171]. - The company has implemented a training program to enhance employee skills and career development[174]. - The company has established performance evaluation standards and incentive mechanisms for directors, supervisors, and senior management, ensuring transparency and compliance with legal requirements[179]. - The company has a total remuneration of 1,525,000 RMB for directors and senior management during the reporting period[169].

Financial Performance - Operating revenue for the reporting period was ¥387,796,968.65, a decrease of 49.29% year-on-year, while year-to-date revenue was ¥1,289,849,501.27, down 44.59%[7] - Net profit attributable to shareholders was -¥153,610,193.55 for the reporting period, representing a decline of 140.07% year-on-year, and year-to-date net profit was ¥78,716,187.90, down 93.71%[7] - Basic earnings per share for the reporting period was -¥0.51, a decrease of 140.16% compared to the same period last year[7] - The weighted average return on net assets was -5.30%, a decline of 21.13% year-on-year[7] - The company's operating revenue decreased by 44.59% to CNY 1,289,849,501.27 compared to the previous period due to a decline in the selling price of main products[14] - Net profit attributable to the parent company dropped by 93.71% to CNY 78,716,187.90, primarily due to reduced profits from main products[14] - The total operating revenue for Q3 2020 was CNY 387,796,968.65, a decrease of 49.3% compared to CNY 764,699,187.83 in the same period last year[35] - The net profit for Q3 2020 was a loss of CNY 154,063,312.23, compared to a profit of CNY 383,351,926.72 in Q3 2019[37] - The net profit for the third quarter of 2020 was CNY 59,548,065.88, a significant decrease compared to CNY 1,261,621,115.40 in the same period last year, reflecting a decline of approximately 95.3%[48] Cash Flow and Assets - Net cash flow from operating activities was ¥51,840,917.75, down 86.41% year-on-year, with year-to-date cash flow at ¥225,490,040.19, down 81.14%[7] - Cash flow from operating activities decreased by 81.14% to CNY 225,490,040.19, reflecting the decline in profits from main products[14] - Cash and cash equivalents increased by 82,179,703.18, but the net increase was down by 69.31% compared to the previous period[14] - The total assets at the end of the reporting period reached ¥3,292,929,016.18, an increase of 0.97% compared to the end of the previous year[7] - The total assets as of September 30, 2020, were CNY 2,899,483,451.33, a decrease from CNY 2,981,405,893.42 at the end of 2019[33] - Cash and cash equivalents at the end of the period totaled CNY 807,083,811.88, an increase from CNY 695,829,121.96 at the end of the previous year[51] Shareholder Information - The total number of shareholders at the end of the reporting period was 47,694[10] - The largest shareholder, Sun Ximin, holds 31.22% of the shares, totaling 94,310,000 shares[10] Government Subsidies and Other Income - The company reported a total of ¥6,983,639.19 in government subsidies recognized in the current period[8] - The company reported an increase in other income by 233.55% to CNY 7,115,804.55, driven by increased government subsidies[14] Liabilities and Borrowings - The company's short-term borrowings increased by 154.34% to CNY 419,150,000.00, indicating a rise in bank short-term loans[14] - The total liabilities amounted to CNY 310,915,098.76, an increase from CNY 271,157,627.53 in the previous year[33] Inventory and Receivables - The inventory decreased significantly to CNY 196,980,004.42 from CNY 272,381,683.75 in the previous year, indicating a reduction of 27.7%[32] - The company reported a significant increase in other receivables, which rose to CNY 222,763,286.47 from CNY 120,667,221.59, marking an increase of 84.5%[32] Financial Standards and Reporting - The company adopted new revenue and lease standards starting in 2020, adjusting the presentation of contract liabilities[57] - The report for the third quarter was not audited[64]

证券代码：002234 证券简称：民和股份 公告编号：2020-044 山东民和牧业股份有限公司 关于参加山东辖区上市公司 2020 年度投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载，误导性陈述或重大遗漏。 山东民和牧业股份有限公司（以下简称"本公司"或"公司"）将于2020年 9月29日（星期二）下午15：00-16：55参加"山东辖区上市公司2020年度投资 者网上集体接待日活动"，现将有关事项公告如下： 本次投资者网上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 平台采取网络远程方式举行，投资者可以登录全景路演天下（http://rs.p5w.net）） 参与本次活动。 公司出席本次活动的人员有：公司副总经理兼董事会秘书张东明先生、证券 事务代表高小涛先生，欢迎广大投资者积极参与。 特此公告。 山东民和牧业股份有限公司董事会 二〇二〇年九月二十五日 ...