福建圣农发展股份有限公司 2014 年第三季度报告正文 证券代码：002299 证券简称：圣农发展 公告编号：2014-055 福建圣农发展股份有限公司 2014 年第三季度报告正文 1 福建圣农发展股份有限公司 2014 年第三季度报告正文 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。 公司负责人傅光明、主管会计工作负责人陈榕及会计机构负责人(会计主管人员)林奇清声明：保证季 度报告中财务报表的真实、准确、完整。 2 福建圣农发展股份有限公司 2014 年第三季度报告正文 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 9,603,310,566.69 | 8,200,848,960.36 ...

福建圣农发展股份有限公司 2014 年半年度报告全文 福建圣农发展股份有限公司 2014 年半年度报告 2014 年 07 月 1 福建圣农发展股份有限公司 2014 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 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报告的董事会会议。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 公司负责人傅光明、主管会计工作负责人陈榕及会计机构负责人(会计主管 人员)林奇清声明：保证本半年度报告中财务报告的真实、准确、完整。 2 | 目录 | | --- | | 2014 | 半年度报告 2 | | --- | --- | | 第一节 | 重要提示、目录和释义 5 | | 第二节 | 公司简介 7 | | 第三节 | 会计数据和财务指标摘要 8 | | 第四节 | 董事会报告 16 | | 第五节 | 重要事项 23 | | 第六节 | 股份变动及股东情况 26 | | 第七节 | 优先股相关情况 26 | | 第八节 | 董事、监事、高 ...

Financial Performance - The company's revenue for Q1 2014 was CNY 1,270,147,530.66, representing a 30.65% increase compared to CNY 972,191,605.33 in the same period last year[8] - The net profit attributable to shareholders was a loss of CNY 115,686,078.40, which is a 47.21% increase in loss compared to a loss of CNY 78,586,580.45 in the previous year[8] - The company's net profit decreased by CNY 37.63 million, a decline of 41.11%, impacted by rising costs and industry price pressures[33] - The gross profit margin for the main business improved by 1.72 percentage points, reaching -1.02%, benefiting from lower raw material costs[33] - The company expects a net profit loss of up to -60 million CNY for the first half of 2014, compared to a net profit loss of -233.31 million CNY in the same period of 2013[44] Cash Flow and Investments - The net cash flow from operating activities was CNY 234,209,896.98, a significant improvement of 233.28% from a negative cash flow of CNY 175,729,409.34 in the same period last year[8] - Cash flow from operating activities saw a net increase of CNY 409.94 million, a growth of 233.28%, driven by higher cash inflows from sales and improved management of receivables[27] - Investment activities generated a net cash flow increase of CNY 143.73 million, a growth of 44.93%, mainly due to construction and gradual production of subsidiaries[28] - The company maintained a healthy cash flow with a net cash inflow from operating and financing activities of CNY 234.21 million and CNY 209.39 million, respectively[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,370,065,119.52, reflecting a 2.06% increase from CNY 8,200,848,960.36 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 3.73% to CNY 2,988,122,236.75 from CNY 3,103,808,315.15 at the end of the previous year[8] - The company experienced a 34.96% decrease in undistributed profits, which fell by CNY 115,686,100 due to operating losses during the reporting period[21] Shareholder Information - The top shareholder, Fujian Shengnong Industrial Co., Ltd., holds 51.55% of the shares, totaling 469,587,320 shares[11] - The total number of shareholders at the end of the reporting period was 40,911[11] Operational Developments - The company's operating revenue increased by CNY 297.96 million, a growth of 30.65%, primarily due to the production launch of its own chicken farms and the first phase of a 60 million broiler project[22] - Chicken product sales volume rose by 30.85% year-on-year, although the average sales price decreased by 1.66% due to ongoing industry challenges[22] - The first phase of the 60 million broiler project in Pucheng has been completed and is operational, with further expansion plans underway[35] - The first phase of the 60 million broiler project in Pucheng is gradually reaching its production capacity, contributing to improved operational conditions since March 2014[44] - Major clients, including KFC and McDonald's, have maintained good order volumes, showing an upward trend in both quantity and price since the first quarter[44] Industry Context - The poultry farming industry in China is experiencing significant losses, leading to the exit of some farmers and small enterprises from the market due to accelerated capacity reduction[44] - The impact of the "fast-growing chicken incident" and "H7N9 flu" is gradually diminishing, leading to a recovery in the sales of chicken products[44] Corporate Governance and Commitments - The company committed to not planning any major asset restructuring within three months following the announcement on November 13, 2013, and this commitment was strictly executed during the reporting period[38] - The controlling shareholder, Shennong Industry, and actual controllers promised not to engage in any competitive business activities against the company's main operations, which include feed processing and chicken farming, for an indefinite period[38] - The company has committed to avoid related party transactions with Shennong Industry as much as possible, ensuring fair trading and compliance with legal procedures[38] - The company is required to maintain its current office location and notify bond trustees of any changes in a timely manner[40] - The company must strictly adhere to the procedures for related party transactions and disclose relevant information as required by law[40] - The company has established a commitment to ensure that any related party transactions are conducted at fair prices and with proper approval[38] Profit Distribution Policy - The company plans to maintain a minimum cash dividend ratio of 10% of the distributable profit for each year over the next three years (2012-2014)[42] - The company aims to distribute at least 30% of the average distributable profit over three consecutive years as cash dividends[42] - The company will prioritize cash dividends while considering its profit scale, cash flow, and funding needs[42] - The company has established a profit distribution policy that emphasizes continuity and stability[42] - The company will propose mid-term dividends based on its current profit scale and cash flow situation[42] - The company has committed to protecting the interests of minority shareholders during board decisions[42] - The company will submit its profit distribution proposal to the shareholders' meeting for approval after each fiscal year[42]

Financial Performance - The company's operating revenue for 2013 was CNY 4,708,227,702.10, representing a 14.85% increase compared to CNY 4,099,300,058.91 in 2012[20]. - The net profit attributable to shareholders of the listed company was a loss of CNY 219,749,457.63, a significant decrease of 8,441.56% from a profit of CNY 2,634,393.70 in 2012[20]. - The net cash flow from operating activities was CNY 21,605,887.07, down 94.57% from CNY 397,878,527.49 in the previous year[20]. - The total assets at the end of 2013 were CNY 8,200,848,960.36, an increase of 23.70% from CNY 6,629,373,235.54 at the end of 2012[20]. - The net assets attributable to shareholders of the listed company decreased by 6.61% to CNY 3,103,808,315.15 from CNY 3,323,557,772.78 in 2012[20]. - The basic earnings per share for 2013 was -CNY 0.2412, a decline of 8,417.24% from CNY 0.0029 in 2012[20]. - The weighted average return on net assets was -6.84%, a decrease of 6.92 percentage points from 0.08% in 2012[20]. Sales and Market Performance - In 2013, the company's chicken sales volume increased by 14.13%, achieving operating revenue of CNY 4,708.23 million, a year-on-year growth of 14.85%[25]. - The net profit attributable to shareholders was CNY -219.75 million, a decline of 8,441.56% compared to the previous year, primarily due to falling chicken sales prices and rising raw material costs[25]. - The company’s chicken product sales volume increased by 14.13% year-on-year, reaching a total of 419,221.94 tons[54]. - The company’s inventory increased by 6,947.13 tons, a rise of 62.99%, due to strategic reserves in response to a sluggish market[55]. Cost and Expenses - The cost of frozen chicken meat in 2013 was ¥4,425,186,145.64, representing 96.05% of the total operating cost, with a year-on-year increase of 15.55%[59][61]. - The total operating costs for 2013 amounted to ¥442,518.61 million, up from ¥382,952.01 million in 2012[62]. - The financial expenses increased by ¥87,925,000, with a growth rate of 98.11%, primarily due to increased short-term borrowings for new projects[66]. - The company’s financial expenses increased by CNY 90 million due to the need for funding new projects, contributing to the overall decline in net profit[48]. Investment and Financing - The financing activities generated a net cash flow of CNY 1,263.24 million, reflecting the company's strong financing capability[26]. - The net cash flow from investment activities was -¥1,744,053,175.31, reflecting a 21.36% increase in outflows due to increased project investments[74]. - The company plans to continue investing in new projects to support growth and expansion in the coming year[83]. - The company plans to issue shares for asset acquisition to address increasing related party transactions and extend its industrial chain, enhancing food safety from farm to table[130]. Risk Management - The report highlights risks including fluctuations in chicken prices and raw material costs, as well as management risks associated with scale expansion[11]. - The company is actively managing risks related to chicken price fluctuations and raw material price volatility, which could significantly impact profitability[111][113]. - The company has implemented measures to mitigate raw material price risks, including bulk purchasing during low price periods and engaging in hedging activities[114]. Corporate Governance - The company has established measures to ensure the interests of bondholders are prioritized in case of financial difficulties[137]. - The company is committed to transparency in related party transactions and will follow strict disclosure procedures[137]. - The board of directors consists of nine members, including three independent directors, ensuring compliance with legal and regulatory requirements[194]. - The company emphasizes the protection of stakeholders' rights while balancing the interests of society, shareholders, and employees[196]. Strategic Initiatives - The company plans significant production scale growth, which will require improvements in organizational structure and management systems[117]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the industry[176]. - The company aims to increase its market share by 10% in the next fiscal year through strategic marketing initiatives[175]. - The company plans to expand its production capacity to 750 million broilers annually, with 60% of frozen chicken products to be processed into deep-processed chicken products[109]. Human Resources - The company employed a total of 12,679 staff as of December 31, 2013, with 88.32% being production personnel[186]. - The proportion of employees with a master's degree is only 0.08%, while 96.93% of employees have a high school education or below[187]. - A talent cultivation and reserve plan has been initiated, focusing on internal training and external recruitment of advanced industry talents[120]. Research and Development - The company is actively involved in research and development to improve poultry breeding techniques and product quality[170]. - Research and development expenses rose to ¥12,091,021.30, a 47.95% increase compared to ¥8,172,544.15 in 2012[71]. Compliance and Regulatory - The company has no outstanding commitments that have not been fulfilled, ensuring compliance with its obligations[143]. - The company has not reported any changes in the number of shares held by major shareholders during the reporting period[155]. - The company has experienced no penalties or disciplinary actions from the China Securities Regulatory Commission or other relevant authorities, ensuring compliance with regulations[164].