Financial Performance - Operating revenue decreased by 8.84% to CNY 223,371,056.71 year-on-year, while year-to-date revenue increased by 6.40% to CNY 674,271,491.18[7] - Net profit attributable to shareholders decreased by 62.26% to CNY 4,771,465.93 year-on-year, with a year-to-date decrease of 19.67% to CNY 31,027,763.97[7] - Basic earnings per share decreased by 66.67% to CNY 0.01, while diluted earnings per share also decreased by 66.67% to CNY 0.01[7] - Cash flow from operating activities decreased by 74.47% year-to-date to CNY 20,439,777.03[7] - Operating cash flow net amount decreased by 74.47% year-on-year, primarily due to increased raw material purchases compared to the same period last year[17] - Investment cash flow net amount decreased by 74.60% year-on-year, mainly due to the maturity of bank wealth management products purchased with idle raised funds[17] - Financing cash flow net amount decreased by 106.34% year-on-year, primarily due to the receipt of raised funds in the first half of the previous year[17] - The estimated net profit attributable to shareholders for 2014 is expected to range from 33.54 million to 50.32 million RMB, representing a change of -20.00% to 20.00% compared to the previous year[20] Asset and Shareholder Information - Total assets increased by 1.17% to CNY 1,695,826,995.57 compared to the end of the previous year[7] - The number of ordinary shareholders at the end of the reporting period was 25,032[11] - The top shareholder, Liu Zongli, holds 25.01% of the shares, totaling 92,368,640 shares[11] - The company's capital reserve was converted to share capital, resulting in a 100% increase in share capital compared to the beginning of the year[15] Financial Adjustments and Accounting - The company adjusted its deferred income from other non-current liabilities, resulting in a final amount of 34,602,097.71 RMB[28] - Capital reserve was adjusted from 983,991,654.59 RMB to 980,996,168.97 RMB, reflecting a decrease of 2,995,485.62 RMB[28] - Other comprehensive income was adjusted to 2,995,485.62 RMB, previously reported as zero[28] - The adjustments made in the financial statements are in compliance with the relevant accounting standards[30] - The company has implemented various accounting standards, including those related to employee compensation and financial instruments, with no impact on the financial statements for 2013[30] - The company reported a total deferred income of 30,242,097.71 RMB in the parent company's balance sheet[29] - The adjustments in the parent company's capital reserve also reflect a decrease of 2,995,485.62 RMB, bringing the total to 980,996,168.97 RMB[29] - Other comprehensive income in the parent company's financials was adjusted to 2,995,485.62 RMB, previously reported as zero[29] - The adjustments were made to ensure accurate reporting of government subsidies and other financial items[28] Investment and Financial Income - Financial expenses decreased by 140.30% year-on-year, mainly due to reduced interest expenses on borrowings and increased interest income from time deposits[16] - Asset impairment losses decreased by 85.14% year-on-year, primarily due to the reversal of asset impairment losses[16] - Investment income increased by 418.09% year-on-year, mainly from increased investment income recognized using the equity method from Shandong Yucheng Rural Commercial Bank and gains from purchasing principal-protected bank wealth management products[16] Market Conditions and Future Plans - The main raw material prices, such as corn and corn starch, have significantly increased year-on-year, compressing the profit margin of the company's products[20] - The company plans to take various measures to ensure the achievement of annual performance targets as corn market supply and demand return to normal[20] Presentation of Financial Results - The company’s chairman, Liu Zongli, presented the financial results on October 27, 2014[31]

Financial Performance - The company's operating revenue for the first half of 2014 was CNY 450,900,434.47, representing a 16.01% increase compared to CNY 388,679,178.90 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was CNY 26,256,298.04, a slight increase of 1.06% from CNY 25,981,592.70 year-on-year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 22,319,849.55, up 2.13% from CNY 21,853,684.67 in the previous year[21]. - Basic earnings per share decreased by 22.22% to CNY 0.07 from CNY 0.09 in the previous year[21]. - Diluted earnings per share also fell by 14.29% to CNY 0.06 from CNY 0.07 year-on-year[21]. - The weighted average return on net assets was 1.81%, down from 2.52% in the previous year, a decrease of 0.71%[21]. - The company achieved a revenue of 450.90 million yuan in the first half of 2014, representing a year-on-year growth of 16.01%[30]. - The net profit for the same period was 26.26 million yuan, showing a slight increase of 1.06% compared to the previous year[30]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -12,755,845.84, a significant decrease of 145.79% compared to CNY 27,859,061.42 in the same period last year[21]. - Total assets at the end of the reporting period were CNY 1,669,939,753.68, a decrease of 0.37% from CNY 1,676,213,763.73 at the end of the previous year[21]. - Current assets decreased from CNY 797,856,787.97 to CNY 710,683,811.81, reflecting a decline of approximately 10.9%[126]. - Cash and cash equivalents decreased from CNY 361,316,011.12 to CNY 332,072,262.78, a reduction of about 8.1%[126]. - Inventory increased significantly from CNY 110,136,601.35 to CNY 164,501,837.26, representing an increase of approximately 49.3%[126]. - Non-current assets increased from CNY 878,356,975.76 to CNY 959,255,941.87, an increase of about 9.2%[127]. Liabilities and Equity - The total liabilities decreased by 9.67% year-on-year to 217.58 million yuan[31]. - Total liabilities decreased to CNY 210,296,153.55 from CNY 229,855,751.09 in the previous period, reflecting a reduction of 8.67%[131]. - The total equity attributable to the parent company at the end of the previous year was CNY 1,435,336,000.00[147]. - The total equity at the end of the current period increased to CNY 1,452,361,000.00, showing a growth from the previous year[152]. Business Operations and Growth - International business saw a significant growth of 95.71% during the reporting period[36]. - The company successfully expanded the application of its oligosaccharides feed additive to weaned piglets, enhancing its animal nutrition business[38]. - The company implemented advanced technologies, improving the effective ingredient content of oligosaccharides by over 20%[38]. - The company achieved a profit of 9.90 million yuan from the annual production of 10,000 tons of fructooligosaccharides, driven by a significant increase in market demand, particularly in the infant formula sector, although it remains below initial expectations[57]. - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[144]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 20,569[113]. - Liu Zongli holds 25.01% of shares, totaling 92,368,640 shares[113]. - The total share capital increased from 184,628,000 shares to 369,256,000 shares through a capital reserve transfer of 10 shares for every 10 shares held[72]. - The company distributed a cash dividend of ¥0.50 per share and conducted a bonus share issue of 1:1 based on the total share capital as of December 31, 2013[110]. Governance and Compliance - The company has established and revised governance systems in compliance with relevant laws and regulations, enhancing its governance level[79]. - The financial report for the half-year was not audited[104]. - There were no significant litigation or arbitration matters during the reporting period[83]. - The company did not engage in any asset acquisitions, sales, or mergers during the reporting period[86][88]. Financial Management and Investments - The company is actively seeking opportunities for capital operation and financial development to enhance its business model[39]. - The company has committed to using part of the raised funds to temporarily supplement working capital, with a decision made on October 11, 2010, to allocate 35 million yuan for this purpose[57]. - The company has approved the use of RMB 300 million of idle raised funds to purchase principal-protected bank financial products, with an actual balance of RMB 100 million as of June 30, 2014[65]. - The company engaged in various entrusted financial management activities, with total amounts reaching ¥3.7 million and ¥6 million in different transactions[48]. Financial Reporting and Standards - The financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring compliance and transparency[160]. - The company recognizes impairment losses for financial assets when there is objective evidence of impairment, with significant individual assets tested separately[195].

保龄宝生物股份有限公司 2014 年第一季度报告正文 证券代码：002286 证券简称：保龄宝 公告编号：2014-031 保龄宝生物股份有限公司 2014 年第一季度报告正文 1 保龄宝生物股份有限公司 2014 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。 公司负责人刘宗利、主管会计工作负责人王延军及会计机构负责人(会计主 管人员)张元忠声明：保证季度报告中财务报表的真实、准确、完整。 2 保龄宝生物股份有限公司 2014 年第一季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 3 单位：股 保龄宝生物股份有限公司 2014 年第一季度报告正文 | 报告期末股东总数 | | | | | | 11,717 | | --- | --- | --- | --- | --- | --- | --- | | 前 10 ...

Financial Performance - The company reported a significant increase in revenue, with total revenue reaching 1.2 billion RMB, representing a year-on-year growth of 15%[22]. - The company reported a net profit of 200 million RMB for the year 2013, marking a 12% increase from the previous year[22]. - The company reported a revenue of CNY 900,769,114.60 for 2013, a decrease of 7.90% compared to the previous year[33]. - Net profit attributable to shareholders was CNY 41,931,128.09, down 38.95% year-on-year[33]. - The company achieved a net profit of CNY 40,999,366.58 in 2013, with a profit distribution plan proposing a cash dividend of CNY 0.50 per 10 shares, totaling CNY 9,231,400.00[138]. - The total distributable profit for 2013 was CNY 234,949,854.26, after accounting for previous undistributed profits and cash dividends from 2012[140]. - The company’s net profit for 2012 was CNY 67,284,688.52, with a cash dividend distribution of CNY 1.50 per 10 shares, totaling CNY 27,694,200.00[136]. - The basic earnings per share dropped by 50.98% to CNY 0.25[33]. Assets and Liabilities - The company’s total assets as of December 31, 2013, amounted to 1.5 billion RMB, reflecting a 10% increase compared to the previous year[22]. - The company's total assets increased by 50.09% to CNY 1,676,213,763 at the end of 2013[34]. - The total liabilities rose by 18.43% to CNY 24,087,690[34]. - The company’s cash and cash equivalents accounted for 21.56% of total assets at the end of 2013, up from 11.58% in 2012[62]. - Short-term borrowings decreased by 7.18% to CNY 96,657,000.00, representing 5.77% of total assets[64]. - The company reported a significant increase in long-term equity investments, rising to CNY 51,354,751.20, which is 3.06% of total assets[62]. Dividends and Share Capital - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares to all shareholders based on the total share capital as of December 31, 2013[5]. - The company plans to increase its share capital by issuing 10 new shares for every 10 shares held, resulting in a new total of 369,256,000 shares[141]. - In 2013, the cash dividend payout ratio was 22.02% of the net profit attributable to shareholders, compared to 40.32% in 2012 and 17.81% in 2011[139]. - The company completed a non-public offering of 49,428,000 shares during the reporting period, increasing the total share capital to 184,628,000 shares[191]. - The proportion of restricted shares increased from 38.27% to 61.05% after the share issuance[191]. Research and Development - The company has expanded its product line, focusing on the research and development of new health food products, including low oligosaccharides and erythritol[19]. - The company’s research and development expenses accounted for 5% of total revenue, emphasizing its focus on innovation[22]. - The research and development expenditure for 2013 was ¥30,586,900, which is a decrease of 11.67% from ¥34,626,300 in 2012, and it accounted for 2.13% of the company's net assets[48]. - The company obtained 15 authorized patents in 2013, including 11 invention patents, 3 utility model patents, and 1 design patent[48]. - The company is focusing on enhancing its innovation capabilities in enzyme engineering and fermentation engineering to improve product quality and reduce costs[48]. Market and Strategic Initiatives - The company aims to enhance its market presence through strategic partnerships and potential acquisitions in the health food sector[19]. - The company is focusing on the B2C business transformation, leveraging e-commerce and direct sales to enhance its market presence in the health industry[67]. - The company has established a joint research institute with Qilu University of Technology to accelerate innovation and technology transfer in the health industry[68]. - The company aims to capitalize on the growing health industry, which is projected to be worth 8 trillion yuan in China, positioning itself strategically in this market[67]. - The company has strengthened its market development and customer service capabilities by transitioning from a supply relationship to strategic partnerships with clients[70]. Operational Risks and Challenges - The company is facing risks related to raw material price fluctuations and market risks, which may impact future performance[12]. - The company faces market risks associated with increased production capacity for fructooligosaccharides and other products, which may lead to sales challenges if market conditions change[124]. - There is a risk of revenue fluctuations due to the oligopolistic nature of the beverage and dairy industries, where demand changes from large clients can significantly impact sales[125]. - Transitioning to a B2C model for probiotics products presents risks in brand marketing and market penetration, which could affect overall business performance[126]. - Increased competition in the probiotics market due to new entrants could threaten market share if the company fails to innovate and expand its product applications[128]. Financial Management - The total amount of entrusted financial management funds is 78,400,000, with a recovered principal of 57,700,000 and a total profit of 436.47 million[78]. - The company has not engaged in derivative investments during the reporting period, with a total initial investment of 0[79]. - The company has temporarily supplemented working capital with RMB 59 million of idle raised funds, with a usage period not exceeding 12 months[98]. - The company has utilized part of the raised funds to temporarily supplement working capital, with a total of 35 million CNY allocated for this purpose[87]. Corporate Governance - The company is committed to improving its internal controls and governance structures to mitigate operational risks[12]. - The company has committed to strictly fulfilling its obligations to minority shareholders, with no reported delays in commitments[177]. - The company’s independent directors approved the change of auditor to ensure continuity and compliance with regulatory requirements[182]. - The company has not faced any penalties or corrective actions during the reporting period[183]. Subsidiaries and Investments - The company has a 100% ownership stake in Yucheng Baolibao Sugar Detection Co., Ltd. and Yucheng Baolikan Biological Feed Co., Ltd.[105]. - The company reported a net loss of RMB 439,882.9 in its subsidiary, Shandong Baolingbao, with total assets of RMB 8.14 million[100]. - The net profit achieved by Yucheng Baolibao Biological Feed Co., Ltd. was CNY 745,031.65, accounting for 1.78% of the consolidated net profit[105]. - The company holds an 8.21% stake in Shandong Yucheng Rural Commercial Bank, making it the largest shareholder[71]. Future Outlook - In 2014, the company plans to focus on quality management to achieve outstanding performance, with a strategy centered on comprehensive management across various operational aspects[118]. - The company aims to enhance its core business in functional ingredients and expand into strategic areas such as biomedicine and animal nutrition, leveraging its position as a leading player in the health industry[117]. - The company plans to accelerate project construction and improve product competitiveness, ensuring that new projects meet production and efficiency targets[122].