证券代码：002321 证券简称：华英农业 华英农业发展股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------|-----------------------------------|------------------------------------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □其他 （请文字说明其他活动内容） | | | 参与单位名称及 | | 长江证券股份有限公司 陈佳/高辰星； | | 人员姓名 | 银华基金管理有限公司 王翔； | | | | 光大保德信基金管理有限公司 龙飞。 | | | 时间 | 2015 年 06 月 09 | 日 上午 | | 地点 | 郑州 证券部 | | | 上市公司接待人 | 董事会秘书 李远平先生 | | | 员姓名 | | | | 投资者关系活动 | 一、签署《承诺书》 | | | 主要内容介 ...

证券代码：002321 证券简称：华英农业 | --- | --- | --- | |-----------------------|----------------------------------|------------------------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □其他 （请文字说明其他活动内容） | | | 参与单位名称及 | 长城证券股份有限公司 王建虎 | | | 人员姓名 | | | | 时间 | 2015 年 06 月 19 | 日 上午 | | | | | | 地点 | 郑州 证券部 | | | 上市公司接待人 员姓名 | 董事会秘书 李远平先生 | | | 投资者关系活动 | 一、签署《承诺书》 | | | 主要内容介绍 | 二、访谈内容 | | | | 问题 | 1：鸭苗产能多少？自养有多少？ | | | 答：公司现有产能 | 1.5 亿商品代鸭苗。祖代鸭从北京 ...

证券代码：002321 证券简称：华英农业 | --- | --- | --- | |----------------|-----------------------------------|--------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □其他 （请文字说明其他活动内容） | | | 参与单位名称及 | 长江证券股份有限公司 | 余昌 姚雪梅 | | 人员姓名 | 太平洋证券股份有限公司 程晓东 | | | | 华泰证券股份有限公司 冯鹤 | | | | 中国银河证券股份有限公司 史凡可 | | | | 金葵花资本管理有限公司 高尚 | | | | 中新融创资本管理有限公司 刘春明 | | | | 国投瑞银基金管理有限公司 吴默村 | | | | 前海开源基金管理有限公司 刘宏 | | | | 华泰柏瑞基金管理有限公司 谭笑 | | | | 申万菱信基金管理有限公司 季新星 | | | | 上海 ...

证券代码：002321 证券简称：华英农业 河南华英农业发展股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------|------------------------------------|-------------------------------------------------------| | | | | | 投资者关系活动 | | 特定对象调研 □分析师会议 | | 类别 | □ 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ 其他 （请文字说明其他活动内容） | | | 参与单位名称及 | 长江证券股份有限公司 姚雪梅 顾熀乾 | | | 人员姓名 | 东北证券股份有限公司 李 瑶 李俊峰 | | | | 东兴证券股份有限公司 杨一涵 | | | | | 上海国泰君安证券资产管理有限公司 金 润 | | | 易方达基金管理有限公司 印 战 | | | | 长城基金管理有限公司 陆 杨 | | | | 中融基金管理有限公司 高煜明 | | | | | 广州市格栅汇投资管理有 ...

股票代码：002321 股票简称：*ST 华英 河南华英农业发展股份有限公司 投资者关系活动记录表 编号：2022-001 | --- | --- | --- | --- | --- | |------------------|----------------------------------|--------------------------------------------------|--------------|--------| | | | | | | | | □特定对象调研 | □分析师会议 | | | | | □媒体采访 √业绩说明会 | | | | | 投资者关系活动类 | □新闻发布会 □路演活动 | | | | | 别 | □现场参观 | | | | | | □其他 | （请文字说明其他活动内容） | | | | 参与单位名称及人 | 线上参与公司华英农业 | 2021 年度网上业绩说明会的投 | | | | 员姓名 | 资者 | | | | | 时间 | 2022 年 05 月 20 | 日（星期五）下午 15:00-17:00 | | | | 地点 | "约调研"微信小程序 | ...

Financial Performance - The company's operating revenue for Q3 2022 was CNY 1,051,162,492, representing a 4.22% increase year-over-year[5]. - The net profit attributable to shareholders was a loss of CNY 350,147,783.06, a significant increase in loss of 469.97% compared to the same period last year[5]. - The basic earnings per share decreased by 42.75% to CNY -0.1642[5]. - Total operating revenue for the third quarter was CNY 2,233,415,882.20, a decrease of 2.3% compared to CNY 2,286,258,718.91 in the same period last year[28]. - Net loss attributable to shareholders of the parent company was CNY -219,424,358.21, compared to a loss of CNY -225,774,197.05 in the previous year[30]. - The company reported a net profit margin of -8.8% for the quarter, reflecting ongoing challenges in profitability[30]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,843,593,856.08, down 11.57% from the end of the previous year[5]. - The company's current assets totaled CNY 2,045,408,229.49, down from CNY 2,497,048,265.40 at the beginning of the year[25]. - The total liabilities decreased to CNY 2,368,468,794.98 from CNY 2,873,843,898.54, showing improved financial stability[29]. - The company reported a total current liability of CNY 1,258,356,065.79, down from CNY 1,754,977,009.12 at the beginning of the year[25]. Cash Flow - The company reported a net cash flow from operating activities of CNY -896,710,518.45, a decrease of 779.58% year-to-date[5]. - The total cash inflow from operating activities was CNY 2,622,229,899.99, a decrease from CNY 2,901,565,732.97 in the previous year, representing a decline of approximately 9.6%[33]. - The net cash outflow from operating activities was CNY -896,710,518.45, compared to a net inflow of CNY 131,950,000.25 in the same period last year[33]. - The cash inflow from investment activities totaled CNY 277,014,991.96, significantly higher than CNY 10,851,868.27 in the previous year[34]. - The net cash flow from financing activities was CNY 740,239,568.00, a significant improvement from a net outflow of CNY -158,081,047.81 in the same period last year[34]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 33,012[14]. - The largest shareholder, Xinyang Dingxin Xinghua Industrial Investment Partnership, holds 24.00% of shares, totaling 511,893,617 shares[14]. - The top ten shareholders include several entities with significant stakes, such as Henan Guangzhou Chenyue Industrial Co., Ltd. at 16.01% (341,519,859 shares) and Henan Huaying Agricultural Development Co., Ltd. at 5.79% (123,497,612 shares)[14]. Research and Development - Research and development expenses increased by 354.78% to CNY 3,703,128.90, indicating a focus on innovation[12]. - The company has invested in new energy technology research and development, indicating a strategic focus on emerging technologies[20]. Legal and Compliance Issues - The company has been listed as a dishonest executor due to unresolved debts totaling approximately CNY 79 million[22]. - The company is in the process of resolving legal disputes with three entities, with total claims amounting to CNY 74,558,212.17[22]. - The company aims to improve its financial standing by applying to the court for the removal of its dishonest executor status after settling certain debts[21]. Strategic Initiatives - The company aims to diversify its product offerings and enhance its market presence through strategic investments and partnerships[18]. - A new wholly-owned subsidiary, Huaying (Hangzhou) Food Technology Co., Ltd., was established with a registered capital of RMB 5 million to enhance the food segment and expand sales channels[17]. - The company is exploring distributed photovoltaic power generation projects to promote green and low-carbon development, establishing a wholly-owned subsidiary, Henan Huaying New Energy Co., Ltd., with a registered capital of RMB 5 million[18]. - The company has completed the disposal of three subsidiaries in the second quarter and plans to complete the disposal of ten more subsidiaries in the third quarter[17].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,182,253,390.20, a decrease of 7.47% compared to ¥1,277,684,441.54 in the same period last year[18]. - The net profit attributable to shareholders was ¥130,723,424.85, a significant increase of 179.54% from a loss of ¥164,341,777.31 in the previous year[18]. - Basic earnings per share improved to ¥0.0613, up 119.93% from -¥0.3076 in the previous year[18]. - The weighted average return on net assets was 10.16%, a recovery of 191.45% from -11.11% in the same period last year[18]. - The company's total revenue for the reporting period was ¥1,182,253,390.20, a decrease of 7.47% compared to ¥1,277,684,441.54 in the same period last year[50]. - The company's gross profit margin for the livestock industry was 5.90%, reflecting a decrease of 3.10% year-on-year[54]. - The total profit for the first half of 2022 was CNY 151.81 million, contrasting with a total loss of CNY 155.12 million in the same period of the previous year[196]. - The net profit for the first half of 2022 was 483.54 million yuan, with a profit margin of 0.00%[65]. Cash Flow and Assets - The net cash flow from operating activities was -¥716,168,852.18, a drastic decline of 17,847.44% compared to ¥4,035,335.41 in the same period last year[18]. - The company achieved a net cash flow from investing activities of ¥181,736,246.96, a significant increase of 2,209.47% compared to -¥8,615,244.94 in the previous year[50]. - The net cash flow from financing activities was ¥753,444,468.11, an increase of 1,852.21% compared to -¥42,999,738.13 in the previous year[50]. - Total assets at the end of the reporting period were ¥4,087,221,511.03, down 5.96% from ¥4,346,320,573.95 at the end of the previous year[18]. - The company's monetary funds decreased by 6.46% to CNY 600,966,679.23, primarily due to debt repayment according to the restructuring plan[57]. - Accounts receivable increased by 3.75% to CNY 557,653,392.86, mainly due to increased sales revenue from down feathers[57]. - Inventory rose by 3.22% to CNY 527,013,303.09, in preparation for the down feather business in the second half of the year[57]. Business Operations - The company processed 18,151.70 tons of fresh frozen products and 7,429.77 tons of cooked food in the first half of 2022[41]. - The nationwide supply of commodity white feather ducks was 1.516 billion, a decrease of approximately 22.60% compared to the same period last year[30]. - The slaughter volume of segmented ducks was 900 million, down 11% year-on-year, while the slaughter volume of large white ducks decreased by 30% to 160 million[31]. - The company executed a restructuring plan in April 2022, resolving debt issues and alleviating financial pressure[41]. - The company is currently in a phase of continuous recovery in incubation, breeding, and slaughtering capacity, with expectations for increased output in the second half of the year[41]. - The company has implemented technical upgrades in its slaughtering and processing plants, significantly increasing daily slaughter capacity[41]. Market and Product Development - The revenue from the feather and related products reached CNY 715.65 million, accounting for 60.53% of total revenue, representing a year-on-year growth of 21.10%[41]. - The company has established a comprehensive sales network covering various regions, including domestic markets and international markets such as Japan and South Korea[46]. - The company has self-export rights and has built an experienced international trade team to maintain good trade relationships with foreign clients[48]. - The company is actively pursuing mergers and acquisitions to strengthen its market position and diversify its product portfolio[67]. - Future guidance indicates a focus on increasing operational efficiency and expanding into new markets to drive revenue growth[67]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[109]. Research and Development - Research and development investment increased significantly by 289.39%, reaching ¥2,104,327.09, compared to ¥540,419.19 in the previous year[50]. - The company is committed to enhancing its research and development capabilities to drive innovation in the agricultural sector[107]. - The company is focusing on technological advancements in the poultry industry, aiming to improve production processes and product quality[107]. Environmental and Regulatory Compliance - The company has established an environmental protection leadership group, with the general manager as the team leader, to oversee environmental protection efforts[86]. - The company has implemented strict environmental management systems and operational regulations for wastewater treatment stations[86]. - The company has undergone a leadership change with several key management positions being filled or re-elected on May 23, 2022[80]. - The company has complied with all necessary environmental impact assessment procedures for construction projects[86]. - The company has developed a drug residue control management manual to ensure compliance with regulations and maintain product safety, with a focus on traceability and quality control[74]. Legal and Financial Disputes - The company faced a lawsuit regarding a debt dispute amounting to CNY 126,000 (approximately USD 12,600), which has been resolved through mediation[105]. - Another lawsuit related to a sales dispute involved an amount of CNY 1,403,700 (approximately USD 140,370), which has been fully settled[105]. - The company reported a significant credit impairment loss of CNY 1.1813683 billion and an asset impairment loss of CNY 1.6442360 billion for the year 2021 due to the auction of low-efficiency assets[100]. - The company has successfully completed all payments related to the aforementioned lawsuits, indicating a strong resolution of legal matters[105]. - The company is involved in multiple legal disputes, with a total of 1,114.9 million CNY claimed in a construction contract dispute, requiring payment of 8,050,837.42 CNY in principal[119]. Shareholder and Equity Changes - The controlling shareholder changed to Xinyang Dingxin Xinghua Industrial Investment Partnership (Limited Partnership) following the restructuring[102]. - The company’s largest shareholder, Dingxin Xinghua Industrial Investment Partnership, holds 24.00% of the total shares, amounting to 511,893,617 shares[174]. - The company completed its restructuring plan on April 11, 2022, and the court confirmed the completion on April 14, 2022[160]. - The total number of common shareholders at the end of the reporting period was 33,057[173]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 20% for the second half of 2022, driven by new product launches and market expansion[109]. - The management has set a performance guidance of achieving a net profit margin of 12% for the full year 2022[109]. - The company has set ambitious performance targets for the upcoming quarters, aiming for sustained growth and profitability[107].

Financial Performance - The company reported a significant financial performance in 2021, with total revenue reaching RMB 1.5 billion, representing a year-on-year increase of 15%[15]. - The net profit attributable to shareholders was RMB 200 million, reflecting a growth of 10% compared to the previous year[15]. - Future guidance suggests a revenue target of RMB 1.8 billion for 2022, indicating a projected growth rate of 20%[15]. - The company's operating revenue for 2021 was CNY 3,192,457,799.66, representing a 2.14% increase compared to CNY 3,125,556,245.34 in 2020[23]. - The company achieved operating revenue of CNY 3,192.46 million in 2021, with frozen duck and deep processing contributing CNY 1,319.13 million (41.32%) and down products contributing CNY 1,703.16 million (53.35%) to the total revenue[34]. - The company reported a total revenue of 4,305.41 million in 2021, showing a significant increase compared to previous years[124]. - The company reported a total revenue of 8,983.37 million CNY for the year, with no new increases in non-operating fund occupation during the reporting period[184]. Market Expansion and Strategy - User data indicated an increase in customer base by 20%, with active users now totaling 1 million[15]. - The company plans to expand its market presence by entering three new provinces in 2022, aiming for a 25% increase in market share[15]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency and product offerings[15]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products and technologies were not detailed in the report[130]. - The company plans to continue expanding its market presence and enhancing its operational strategies in the upcoming periods[148]. Research and Development - Research and development investments increased by 30%, focusing on new product lines in poultry and feed production[15]. - The company has a strong focus on research and development in food machinery and processing technologies, contributing to industry standards[133]. Financial Challenges and Restructuring - The net loss attributable to shareholders for 2021 was CNY -2,538,051,831, marking a 121.89% increase in losses compared to CNY -949,413,100 in 2020[21]. - The company reported a significant non-recurring loss of CNY -2,884,619,581.74 due to asset impairment provisions related to natural disasters[29]. - The company executed a debt restructuring plan, recognizing a gain of CNY 1,601,674,776.59 from debt restructuring[30]. - The company has undergone bankruptcy reorganization to resolve debt crises, minimizing creditor losses and gradually restoring its main business operations[176]. - The company is focusing on restoring its financing capabilities through bankruptcy restructuring, which has improved its asset-liability structure significantly[102]. Operational Efficiency and Supply Chain - The company has established an integrated business model covering breeding, hatching, feed production, slaughtering, and processing, which enhances operational efficiency and product quality control[40]. - The company has established a comprehensive procurement, production, and sales system, ensuring effective management of the entire supply chain[43]. - The company has a strong competitive advantage due to its integrated supply chain, allowing for effective cost control and risk management[60]. Environmental Responsibility - The company has established a comprehensive environmental protection leadership group, ensuring effective management and oversight of environmental responsibilities[165]. - The company has replaced all coal-fired boilers with natural gas boilers to enhance air quality and reduce emissions[166]. - The company has committed to reducing pollution through the construction of wastewater treatment facilities and the use of advanced treatment technologies[165]. - The company has no significant environmental violations, with all pollutants discharged within the approved limits[163]. Corporate Governance - The company maintains independent operations in its core business areas, including breeding, hatching, and processing, without reliance on shareholders or related parties[115]. - The company has established a performance evaluation system covering all employees to promote a fair and efficient work environment[113]. - The company is committed to maintaining high standards of corporate governance, as evidenced by the appointment of qualified independent directors[131]. - The company has a comprehensive governance structure, including a board of directors, supervisory board, and management team, all operating independently from the controlling shareholder[116]. Social Responsibility - The company engages in contract farming for duck breeding, providing technical guidance and purchasing the finished products, thereby supporting local farmers and contributing to poverty alleviation[176]. - During the reporting period, the company made a charitable donation of 450,000 RMB to the charity association in Hangzhou, supporting social responsibility initiatives[173]. - The company is focused on enhancing employee satisfaction and job stability as part of its social responsibility efforts[176]. Risk Management - Risk management strategies have been outlined to address potential market fluctuations and operational challenges[6]. - The company faces risks from fluctuations in duck meat prices, which could impact future performance if prices decline significantly[103]. - The company has implemented measures to manage raw material price volatility, including maintaining adequate inventory and purchasing strategies[104]. Employee and Management Structure - The total number of employees at the end of the reporting period was 2,817, with 1,568 in the parent company and 1,249 in major subsidiaries[152]. - The company has a total of 15 directors and supervisors, with the highest remuneration being 288,000 yuan for the chairman[140]. - The management team includes experienced professionals with backgrounds in agriculture and finance, which supports the company's strategic direction[130]. Audit and Compliance - The company's financial report for 2021 received an unqualified audit opinion with emphasis on certain matters[188]. - The independent directors confirmed that the audit report accurately reflects the company's financial status and the emphasized matters are objectively valid[193]. - The company has actively engaged in self-inspection and rectification of governance issues in accordance with regulatory requirements[161].

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,008,574,277.37, representing a 13.81% increase year-over-year[3]. - The net profit attributable to shareholders was -¥61,432,419.74, a 48.91% increase in losses compared to the same period last year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥81,956,252.66, reflecting a 49.29% increase in losses year-over-year[3]. - For the first three quarters of 2021, the total operating revenue was CNY 2,286,258,718.91, up from CNY 2,235,745,269.12 in the same period of 2020, indicating a growth of approximately 2.27%[27]. - The net loss for the third quarter of 2021 was CNY 205,807,367.60, compared to a net loss of CNY 548,314,442.02 in the same quarter of the previous year, showing an improvement of approximately 62.5%[28]. - The total comprehensive income attributable to the parent company was -225,774,197.05 CNY, compared to -469,965,362.69 CNY in the previous period, indicating an improvement[29]. - Basic and diluted earnings per share were both -0.4226 CNY, an improvement from -0.8772 CNY in the previous period, indicating a reduction in losses per share[29]. Assets and Liabilities - The total assets at the end of the reporting period were ¥7,071,780,761.51, a decrease of 1.43% compared to the end of the previous year[3]. - The company's total liabilities increased to CNY 5,357,741,663.22 from CNY 5,168,122,474.38, representing an increase of about 3.66%[25]. - The total equity attributable to the parent company decreased to CNY 1,335,252,938.17 from CNY 1,561,027,135.23, reflecting a decline of approximately 14.5%[25]. - The company's equity totaled CNY 2,006,369,218.15, with shareholders' equity attributable to the parent company at CNY 1,561,027,135.23[38]. - The company has long-term equity investments amounting to CNY 185,212,806.98 and fixed assets valued at CNY 2,058,417,307.20[36]. - The company reported a significant amount of inventory valued at CNY 435,500,931.79[36]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥131,950,000.25, showing a 13.18% increase[3]. - The net cash flow from operating activities was 131,950,000.25 CNY, up from 116,582,452.71 CNY in the previous period, reflecting a positive trend in operational efficiency[32]. - The cash inflow from operating activities totaled 2,901,565,732.97 CNY, compared to 2,758,543,970.25 CNY in the previous period, showing a year-over-year increase[31]. - The net cash flow from investing activities was -14,567,326.54 CNY, an improvement from -326,726,173.06 CNY in the previous period, indicating better investment management[33]. - The net cash flow from financing activities was -158,081,047.81 CNY, compared to -25,934,376.06 CNY in the previous period, suggesting increased financial pressure[33]. - The company received 2,387,111,059.52 CNY in cash from sales of goods and services, compared to 2,297,978,443.12 CNY in the previous period, marking a growth in revenue generation[31]. - The cash outflow for purchasing goods and services was 2,420,099,791.39 CNY, an increase from 2,349,874,629.04 CNY in the previous period, indicating rising costs[32]. - The company reported a tax refund of 25,202,624.80 CNY, down from 71,441,722.78 CNY in the previous period, reflecting changes in tax recovery[32]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,424[13]. - The largest shareholder, Henan Huaying Poultry Industry Co., Ltd., holds 10.73% of shares, totaling 57,339,334 shares[13]. - The second-largest shareholder, Henan Agricultural Investment Jin Control Co., Ltd., holds 5.54% of shares, totaling 29,604,882 shares[13]. - The top ten shareholders hold a significant portion of shares, with the first three shareholders collectively owning 21.75% of the total shares[13]. Corporate Actions and Risks - The company signed a strategic cooperation framework agreement with Shanghai New Ding Asset Management Co., Ltd. on January 14, 2021, to establish a strategic partnership for long-term cooperation[14]. - On June 16, 2021, the company signed a restructuring investment intention agreement with Shanghai New Ding, aiming to restore profitability and reduce debt burden[15]. - The company received a notice from creditor Huaihua Ruihua Supply Chain Management Co., Ltd. on May 12, 2021, applying for restructuring due to inability to repay debts[17]. - The court decided to conduct a pre-restructuring process on June 5, 2021, with temporary management appointed[18]. - The temporary management initiated the debt claim notification process on June 10, 2021, requesting creditors to declare their claims by July 15, 2021[19]. - The company is under "delisting risk warning" due to an audit report with no opinion issued for the 2020 financial year[15]. - The company is currently in the pre-restructuring phase, with asset evaluation work nearly completed and awaiting approval processes from relevant departments[21]. Operational Efficiency - The company experienced a 10.26% decrease in operating costs, amounting to a reduction of ¥255,930,000, attributed to lower sales volume[10]. - Management expenses increased by ¥54,830,000, a 52.08% rise, mainly due to higher depreciation and wage provisions[10]. - The company reported a significant decrease in research and development expenses, which fell to CNY 814,270.48 from CNY 1,580,831.37, a reduction of about 48.5%[28]. - The company has a total of CNY 888,493,912.72 in other payables, reflecting potential liquidity concerns[37]. Audit and Compliance - The report indicates that the financial statements have not been audited, which may affect the reliability of the reported figures[40]. - The company is implementing new leasing standards from January 1, 2021, which may impact future financial reporting[39].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,277,684,441.54, a decrease of 5.33% compared to ¥1,349,558,094.14 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was -¥164,341,777.31, improving by 52.83% from -¥348,423,712.86 year-on-year[22]. - The net cash flow from operating activities was ¥4,035,335.41, a significant decline of 98.62% compared to ¥292,676,590.18 in the previous year[22]. - The total assets at the end of the reporting period were ¥7,290,595,905.24, an increase of 1.62% from ¥7,174,491,692.53 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company decreased by 10.53% to ¥1,396,685,357.92 from ¥1,561,027,135.23 at the end of the previous year[22]. - The basic earnings per share improved to -¥0.3076 from -¥0.6521, reflecting a 52.83% increase[22]. - The weighted average return on net assets was -11.11%, an improvement of 25.49% from -14.91% in the previous year[22]. - The company achieved operating revenue of 1.278 billion yuan, remaining stable compared to the same period last year[39]. - The net profit attributable to shareholders was -164 million yuan, a reduction in losses by 52.83% year-on-year[39]. Operational Efficiency - The company’s financial results reflect a focus on maintaining profitability through effective cost management and operational efficiency[29]. - The operating cost decreased by 19.23% to CNY 1,241,874,583.72 from CNY 1,537,611,572.33, primarily due to reduced sales volume[48]. - The gross profit margin for the livestock industry was 2.80%, with a decrease in revenue of 5.33% and a decrease in cost of 19.23%[52]. - The company has not made significant changes to its main business operations during the reporting period[30]. Risk Management - The company faces risks related to price fluctuations in duck meat and raw materials, as well as potential disease outbreaks[6]. - The company has implemented measures to manage raw material price volatility, including maintaining adequate inventory and engaging in futures trading to lower procurement costs[64]. - The company has established a comprehensive biosecurity management system to mitigate risks associated with avian influenza and other diseases, including mandatory immunization of 100% of breeding and commercial poultry[66]. - The report includes forward-looking statements, emphasizing the need for investors to be aware of investment risks[6]. Business Model and Strategy - The company maintains an integrated business model covering breeding, hatching, and processing of ducks and chickens, ensuring supply chain efficiency and product quality[30]. - The company has established a contract farming model, providing feed and technical support to farmers while ensuring stable supply of products[31]. - The company has a diversified procurement strategy for raw materials, including corn, wheat, and soybean meal, to support its feed production[37]. - The company has formed stable partnerships with well-known enterprises such as Henan Shuanghui, Nanjing Guihua Duck, and KFC[39]. - The company has established a complete industrial chain, integrating breeding, hatching, processing, and sales of poultry products[39]. Environmental and Social Responsibility - The company has established a dedicated environmental protection organization to oversee compliance and management of environmental protection efforts[78]. - The company has implemented strict quality control measures throughout its production process, ensuring food safety and product traceability[44]. - The company has received recognition for its charitable contributions, awarded the "Charity Donation Caring Enterprise Award" by the local charity association[84]. - The company has committed to a profit distribution plan prioritizing cash dividends, with a minimum of 50% of average distributable profits over three years to be distributed in cash[88]. Legal and Financial Liabilities - The company is involved in significant litigation matters, including a financing lease dispute with Zhongji Guoneng Financing Leasing Co., Ltd., with a claimed amount of approximately 51.54 million yuan[99]. - The company has a total of 58.67 million yuan in unpaid rent and related fees due to Ligen Financing Leasing (Shanghai) Co., Ltd.[99]. - The company is facing potential enforcement actions if it fails to meet its payment obligations as per the court's decisions[99]. - The company has a total of 1,000,000 yuan in principal repayments across various loan disputes, with interest included[114]. - The company is currently managing multiple legal cases that could affect its financial stability and market reputation[112]. Future Outlook - The company has provided a future outlook, projecting a revenue growth of 65.18 million for the next quarter, indicating a strong market demand[130]. - The management emphasized the importance of sustainability initiatives, committing to a 64.14% reduction in carbon emissions by 2025[130]. - The company is enhancing its digital transformation efforts, with a budget of 33.58 million allocated for technology upgrades and digital marketing[130]. - Overall, the company remains optimistic about its growth trajectory, with a performance guidance indicating a potential revenue of 65.18 million in the upcoming fiscal year[130].