Financial Performance - The company's revenue for Q3 2021 was ¥500,589,376.71, representing an increase of 8.27% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥47,242,778.36, a decrease of 20.08% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥47,510,015.61, a decrease of 23.00% year-on-year[3]. - The basic earnings per share for the reporting period was -¥0.05, a decrease of 16.67% year-on-year[3]. - The weighted average return on net assets was -1.51%, a decrease of 0.58% compared to the same period last year[3]. - Net profit reached 225,384,654.47, a 48.00% increase driven by rising chick prices and improved gross margins[7]. - Total profit increased by 47.85% to 227,666,100.26, primarily due to higher chick prices and improved product margins[7]. - The total comprehensive income attributable to shareholders increased by 57.76% to 228,572,686.38, reflecting improved profitability[7]. - The company reported a revenue increase of 15% year-over-year, reaching 1.2 billion RMB in Q3 2021[38]. - Total operating revenue for the current period reached ¥1,700,217,480.29, an increase of 16.4% compared to ¥1,461,196,911.59 in the previous period[21]. - Operating profit for the current period was ¥229,556,689.12, up 42.6% from ¥160,962,402.63 in the previous period[23]. - Net profit attributable to the parent company was ¥228,572,686.38, a 57.8% increase from ¥144,887,881.27 in the previous period[23]. - The company recorded a total comprehensive income of ¥225,384,654.47, compared to ¥152,290,092.42 in the previous period, marking a 48.0% increase[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,605,264,468.21, an increase of 20.07% compared to the end of the previous year[3]. - The equity attributable to shareholders was ¥3,370,352,519.00, an increase of 7.40% compared to the end of the previous year[3]. - The company's current assets totaled RMB 888,022,359.09, down from RMB 1,034,056,983.15 in the previous year, indicating a decrease of about 14.1%[16]. - The total liabilities reached RMB 2,156,806,037.56, compared to RMB 1,451,657,207.86 in the previous year, representing an increase of approximately 48.5%[18]. - The total assets increased from 4,668,482,639.12 CNY to 4,791,035,873.34 CNY, reflecting a rise of approximately 2.6%[35]. - The total liabilities rose from 1,451,657,207.86 CNY to 1,574,210,442.08 CNY, an increase of about 8.4%[33]. - The total equity attributable to shareholders was 3,138,016,056.96 CNY, remaining stable compared to the previous period[33]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥113,197,531.24, an increase of 30.24% year-on-year[3]. - Cash received from bank loans increased by 143.65% to 981,916,942.64, indicating a significant rise in borrowing[9]. - Cash inflow from operating activities totaled ¥1,738,346,564.06, compared to ¥1,427,506,784.87 in the previous period, indicating a growth of 21.8%[26]. - The net cash flow from investing activities was -641,040,404.14 CNY, compared to -833,337,508.86 CNY in the previous period, indicating an improvement of approximately 23%[28]. - The total cash inflow from financing activities was 1,010,556,746.05 CNY, up from 585,352,176.40 CNY, representing a growth of about 72%[28]. - The net cash flow from financing activities was 550,556,015.28 CNY, a significant recovery from -137,148,343.93 CNY in the previous period[28]. Investments and Expenses - R&D expenses surged by 104.05% to 50,443,211.26, reflecting continued investment in research and development[7]. - Research and development expenses increased significantly to ¥50,443,211.26, up 104.5% from ¥24,721,101.32 in the previous period[21]. - The company reported a decrease in financial expenses, which were ¥50,246,871.51, down from ¥290,100.15 in the previous period[21]. - The company reported a significant increase in tax expenses, which rose to ¥2,281,445.79 from ¥1,689,781.18 in the previous period[23]. - The company experienced a 32.29% decrease in cash and cash equivalents, attributed to increased investments in construction projects during the reporting period[5]. Strategic Initiatives - The company plans to raise up to RMB 104,000,000 through a public offering of convertible bonds to enhance its breeding capabilities and improve risk resistance and profitability[13]. - The company has initiated a strategy to enhance its industry layout by focusing on breeding and feed production, which is expected to solidify its long-term development foundation[13]. - New product development includes the launch of a premium poultry feed line, expected to contribute an additional 200 million RMB in revenue[38]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[38]. - A strategic acquisition of a local competitor is anticipated to enhance production capacity by 30%[38]. - Research and development investment increased by 12%, focusing on sustainable farming technologies[38]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[38]. - Customer satisfaction ratings improved to 90%, reflecting enhanced service and product quality[38]. - The company is exploring partnerships with local distributors to enhance market penetration and distribution efficiency[38]. Other Notable Points - The company reported a significant increase in production biological assets, which rose by 70.89% to ¥617,845,082.31 due to increased breeding of chickens and pigs[5]. - Goodwill increased to 24,370,870.71, up 51.40% due to the acquisition of 100% equity in Hebei Runyuan Breeding Co., Ltd.[7]. - Long-term prepaid expenses decreased by 84.32% to 11,423,058.55 as a result of the new leasing standards.[7]. - Short-term borrowings rose by 59.35% to 1,144,683,140.76, attributed to increased bank loans for working capital.[7]. - Contract liabilities increased by 140.46% to 46,840,680.24 due to prepayments for chick and equipment sales.[7]. - The report for the third quarter was not audited, which may affect the reliability of the financial data presented[36].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,199,628,103.58, representing a 20.10% increase compared to CNY 998,851,220.50 in the same period last year[25]. - The net profit attributable to shareholders of the listed company reached CNY 275,815,464.74, up 35.20% from CNY 204,002,961.14 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 269,457,972.54, reflecting a 44.39% increase from CNY 186,619,511.82 year-on-year[25]. - The basic earnings per share increased to CNY 0.28, a rise of 33.33% compared to CNY 0.21 in the previous year[25]. - The total assets of the company at the end of the reporting period were CNY 5,623,369,303.27, which is a 20.45% increase from CNY 4,668,482,639.12 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company were CNY 3,417,595,297.36, an increase of 8.91% from CNY 3,138,016,056.96 at the end of the previous year[25]. - The company reported a net cash flow from operating activities of CNY 165,344,102.58, down 13.82% from CNY 191,848,294.84 in the same period last year[25]. - The weighted average return on net assets was 8.41%, an increase of 2.48% compared to 5.93% in the previous year[25]. Revenue Breakdown - Chicken revenue accounted for 89.87% of total operating revenue, amounting to CNY 1,078,096,931.94, with a year-on-year growth of 32.40%[72]. - Pig revenue decreased by 36.86% year-on-year to CNY 25,422,567.50, while the cost of sales increased by 105.62%[76]. - Milk revenue increased by 20.55% year-on-year to CNY 34,955,233.84, with a gross margin of 37.49%[75]. Business Operations and Strategy - The company is advancing its breeding project with the "Yisheng 909" small meat chicken, which has shown excellent performance in production data[36]. - The company has three pig farms in operation, with pig breeding capacity expected to gradually increase[36]. - The non-public offering of shares has been approved and is progressing, with funds aimed at enhancing chicken and pig breeding operations[36]. - The company has implemented a strategy to ensure the health of breeding sources, which has positively impacted product supply and quality[36]. - The company has maintained its leading position in the breeding of grandparent white feather broiler chickens, expanding the breeding volume of parent stock chickens and increasing the production of commercial broiler chicks[41]. - The company focuses on the breeding, rearing, and promotion of poultry breeds, with a business model that has remained stable over the years, emphasizing large-scale professional breeding[44]. - The company is positioned as a key player in the poultry breeding industry, with over 40% contribution to the development of the livestock industry through its breeding operations[41]. Research and Development - Research and development investment increased by 139.28% to ¥48,187,355.33 from ¥20,138,466.13 in the previous year, indicating a strong commitment to innovation[69]. - The company’s research institute has received two national invention patents and one provincial livestock science and technology award in 2020, indicating strong R&D capabilities[59]. - The company has obtained two national-level technology invention patents related to disease detection in poultry, enhancing its competitive edge in the market[41]. Risk Management - The company faces risks including reliance on foreign suppliers and breeding technologies, price fluctuations of products, and biosecurity risks[5]. - The company is exposed to price volatility in livestock products, which may adversely affect business performance during market downturns[95]. - The company has implemented strict biosecurity measures to mitigate risks associated with poultry diseases, ensuring the health of its breeding stock[96]. - The company is actively managing raw material price fluctuations by establishing strategic partnerships with suppliers and utilizing procurement contracts to stabilize costs[99]. Corporate Governance - The company confirmed that there are currently no direct or indirect competitors between the company and its controlling shareholders, and they will not engage in any competitive activities in the future[119]. - The controlling shareholder, Cao Jisheng, committed to not interfering in the company's management and to fulfill compensation measures for the company[122]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[125]. - There were no violations of external guarantees during the reporting period[126]. Social Responsibility and Environmental Initiatives - The company has contributed nearly 11 million RMB in donations during the COVID-19 pandemic, including cash and supplies for epidemic prevention[115]. - The company has implemented a comprehensive employee welfare program, including housing loans and a charity fund to support employees in need[112]. - The company has invested in environmental protection technologies, including a biological fermentation facility that can process 120,000 tons of livestock manure annually, producing 60,000 tons of organic fertilizer[112]. - The company has adopted heat recovery systems in livestock housing to reduce heating costs and harmful emissions, contributing to environmental sustainability[115].

Financial Performance - The company's operating revenue for Q1 2021 was ¥581,404,558.24, representing a 5.34% increase compared to ¥551,952,200.71 in the same period last year[8]. - The net profit attributable to shareholders for Q1 2021 was ¥111,973,600.12, a decrease of 42.79% from ¥195,736,402.49 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥105,116,250.81, down 37.19% from ¥167,353,688.34 year-on-year[8]. - Total revenue for Q1 2021 was 115,279,772.16, a decrease of 41.53% compared to 197,145,344.59 in Q1 2020, primarily due to rising raw material prices and a decline in gross margin[28]. - The company reported a net profit of 111,973,600.12 for Q1 2021, down 42.79% from 195,736,402.49 in Q1 2020, attributed to increased costs[28]. - Basic earnings per share for Q1 2021 were ¥0.11, a decrease of 45.00% from ¥0.20 in the previous year[8]. - Net profit for the current period was ¥115,279,772.16, a decrease from ¥197,145,344.59 in the previous period, reflecting a decline of approximately 41.4%[66]. - Net profit for the current period was CNY 85,385,036.35, a decrease of 42.9% from CNY 149,572,780.65 in the previous period[72]. Cash Flow - The net cash flow from operating activities was ¥16,124,031.55, a significant decline of 85.24% compared to ¥109,214,350.24 in the same period last year[8]. - Cash flow from operating activities increased by 63.68% to 11,363,276.71, driven by VAT refunds received during the period[28]. - Cash flow from operating activities generated CNY 16,124,031.55, down from CNY 109,214,350.24 in the previous period[79]. - Operating cash inflow for the period was CNY 792,022,672.09, an increase of 18.66% compared to CNY 667,805,674.82 in the previous period[83]. - Net cash flow from operating activities was CNY 16,282,637.49, up from CNY 11,920,395.09, reflecting a growth of 36.67%[83]. - Cash outflow from operating activities totaled CNY 775,740,034.60, compared to CNY 655,885,279.73 in the prior period, representing an increase of 18.25%[83]. - The company experienced a cash outflow from investing activities of CNY 234,586,094.60, compared to CNY -113,911,612.37 in the previous period, reflecting increased capital expenditures[79]. - The net cash flow from financing activities was CNY 530,092,847.79, a significant improvement from a negative cash flow of CNY -578,804,343.41 in the previous period[81]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,402,415,237.24, an increase of 15.72% from ¥4,668,482,639.12 at the end of the previous year[8]. - Total non-current assets reached CNY 4,189,593,924.36, a significant increase of 15.3% from CNY 3,634,425,655.97[47]. - Total liabilities rose to CNY 2,070,115,108.90, reflecting a 42.6% increase from CNY 1,451,657,207.86[50]. - Current liabilities totaled CNY 1,528,543,303.82, an increase of 21.1% from CNY 1,262,470,802.38[50]. - The company's total liabilities increased significantly, with long-term borrowings rising by 140.49% to 380,455,954.87 from 158,202,988.21[28]. - Total liabilities were CNY 1,262,470,802.38, unchanged from the previous period, indicating stable liability management[89]. - The company's total equity reached ¥2,825,979,851.69, up from ¥2,731,926,590.42, showing an increase of about 3.5%[59]. - Shareholders' equity attributable to the parent company increased to CNY 3,257,603,674.58 from CNY 3,138,016,056.96, a growth of 3.8%[53]. Investment and Expenses - Research and development expenses increased by 209.09% to 18,134,471.43 from 5,866,967.21, indicating a continued investment in innovation[28]. - Financial expenses surged by 1277.16% to 18,485,891.40, primarily due to increased interest expenses from bank loans[28]. - The company reported a decrease in investment income by 117.55% to -1,255,010.47, due to reduced profits from an associated company[28]. - The company reported an investment loss of ¥1,255,010.47, compared to a gain of ¥7,149,027.47 in the previous period[64]. - The company’s cash outflow for fixed asset purchases rose by 81.87% to 243,192,345.33, reflecting increased investment in infrastructure[28]. - The company reported a significant increase in sales expenses, which decreased to CNY 2,259,356.41 from CNY 4,362,269.83, indicating improved cost management[72]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 90,537[13]. - The company reported a net profit of CNY 1,414,319,618.75 in retained earnings, up from CNY 1,302,346,018.63, indicating a growth of 8.6%[53].

Company Overview - The company has established itself as one of the largest breeding enterprises in China, focusing on high-generation poultry source supply as its core competitiveness [9]. - The company has imported Hubbard great-grandparent white feather broilers, reducing its complete reliance on imported grandparent poultry sources [9]. - The company is actively exploring collaborations with domestic and international breeding institutions to advance its breeding initiatives [9]. - The company has not changed its main business since its listing [31]. - There were no changes in the controlling shareholders during the reporting period [31]. Financial Performance - The company's operating revenue for 2020 was CNY 1,751,036,372.39, a decrease of 51.14% compared to CNY 3,583,534,105.26 in 2019 [32]. - The net profit attributable to shareholders for 2020 was CNY 91,991,339.23, down 95.77% from CNY 2,176,039,144.86 in 2019 [32]. - The net cash flow from operating activities was CNY 58,166,557.08, a decline of 97.28% compared to CNY 2,134,744,427.38 in 2019 [32]. - Basic earnings per share for 2020 were CNY 0.09, a decrease of 95.96% from CNY 2.23 in 2019 [32]. - The net profit attributable to shareholders was CNY 91.99 million, down 95.77% year-on-year, with basic earnings per share of CNY 0.09, a decline of 95.96% [79]. Raw Material and Cost Management - The company faces risks related to price fluctuations of raw materials, particularly corn and soybean meal, which significantly impact production costs [14]. - The company has implemented measures to mitigate raw material price volatility, including pre-order contracts and strategic partnerships with major suppliers [14]. - The cost of raw materials for poultry farming was ¥470,557,316.57, representing 35.62% of total operating costs, an increase of 21.00% from the previous year [96]. Research and Development - The company is committed to complying with the national genetic improvement plan for broilers, aiming to cultivate over 40 new broiler varieties by 2025 [9]. - The company has implemented a disease purification strategy focusing on major vertical transmissible diseases, continuously improving product quality and providing high-quality breeding chickens [64]. - The company has achieved significant results in the research and development of a new small chicken breed, "Yisheng 909," which has completed pilot testing and is currently in the approval stage, showing advantages in growth metrics compared to mainstream breeds [110]. - Research and development expenses increased by 77.93% in 2020, totaling ¥52,496,299.14, due to increased investment in R&D [108]. - The proportion of R&D investment to operating income rose significantly from 2.10% in 2019 to 5.06% in 2020, indicating a strategic focus on innovation [114]. Breeding and Production - The company has established a complete and robust breeding system for broiler chickens, solidifying its leading position in the industry [63]. - The company is actively developing the pig breeding industry alongside chicken breeding to enhance its risk resistance and profitability [63]. - The company has established a high-standard breeding system for pigs, with its breeding farm recognized as a national core breeding farm, achieving 5 first and 2 second places in provincial testing over 7 years [70]. - The company has introduced a new white feather broiler breed with competitive advantages in egg production rate and feed conversion ratio, enhancing its market position [63]. - The company is the largest breeding enterprise for grandparent white feather broiler chickens in China, significantly reducing reliance on imports [63]. Market and Industry Trends - The overall capacity of the white feather chicken industry increased in 2020, but demand was affected by the COVID-19 pandemic, leading to a decline in industry profitability [76]. - The company anticipates a recovery in demand for white feather chicken as consumer habits shift and the market stabilizes post-pandemic [76]. - The white feather broiler industry has become one of the highest degrees of scale, intensification, organization, and marketization in China's livestock sector, with an annual output close to 5 billion birds [137]. Shareholder and Dividend Policy - The company will not distribute cash dividends, issue bonus shares, or increase capital from reserves in the upcoming period [14]. - The company has established a three-year shareholder return plan (2021-2023) to enhance transparency and return to investors, with a cash dividend of RMB 1.00 per share for the first half of 2020 [150]. - The company has maintained a consistent cash dividend policy, ensuring transparency and compliance with regulations [150]. - The company has not proposed any cash dividend distribution plan for the reporting period despite positive profits [157]. Risk Management - The company acknowledges the risks associated with reliance on foreign suppliers for breeding technology and the potential impact on its business operations [5]. - The company emphasizes strict biosecurity measures to prevent disease outbreaks in its poultry operations [11]. - The company is focusing on the purification and prevention of vertically transmitted diseases in poultry, achieving significant breakthroughs [109]. Asset Management - Total assets at the end of 2020 were CNY 4,668,482,639.12, an increase of 12.74% from CNY 4,140,859,202.23 at the end of 2019 [32]. - The company's fixed assets increased by 36.96% in 2020 compared to 2019, primarily due to the expansion of production capacity [60]. - The company's intangible assets rose by 31.36% in 2020 compared to 2019, mainly due to the acquisition of new land [60]. - The total liabilities amounted to approximately CNY 488.33 million, with current liabilities making up a substantial portion [173]. Corporate Governance - The company appointed He Xin Accounting Firm (Special General Partnership) for auditing services, with a remuneration of 1.1 million CNY, marking a continuous service period of 5 years [188]. - There are no bankruptcy reorganization matters reported during the reporting period [189]. - The company has committed to fulfilling its obligations to minority shareholders, ensuring their rights are protected [170].

山东益生种畜禽股份有限公司 2020 年第三季度报告全文 山东益生种畜禽股份有限公司 2020 年第三季度报告 2020 年 10 月 山东益生种畜禽股份有限公司 2020 年第三季度报告全文 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。 公司负责人曹积生、主管会计工作负责人林杰及会计机构负责人(会计主管 人员)徐淑艳声明：保证季度报告中财务报表的真实、准确、完整。 山东益生种畜禽股份有限公司 2020 年第三季度报告全文 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 | --- | --- | --- | --- | --- | |-----------------------------------------------------|------------------|-------------------------|------------------|--------------- ...

关于参加网上集体接待日活动的公告 证券代码：002458 证券简称：益生股份 公告编号：2020-081 本公司及董事会全体成员保证信息披露内容真实、准确和完整， 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工作，构建和谐投资者关系， 切实提高公司透明度和治理水平，山东益生种畜禽股份有限公司（以 下简称"公司"）将参加 "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的方式举行，投资者可以登录"全 景· 路演天下"网站（http://rs.p5w.net）参与本次活动，网上互 动交流时间为 2020 年 9 月 29 日（星期二）下午 15:00-16:55。 届时公司董事会秘书、副总裁兼财务总监林杰先生、证券事务 代表李玲女士将通过网络在线交流形式与投资者进行沟通交流，欢迎 广大投资者积极参与。 特此公告。 山东益生种畜禽股份有限公司 董事会 2020 年 09 月 26 日 山东益生种畜禽股份有限公司 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 ...

Financial Performance - The company's operating revenue for the reporting period was ¥998,851,220.50, a decrease of 30.94% compared to the same period last year[33]. - The net profit attributable to shareholders was ¥204,002,961.14, down 77.42% year-on-year[33]. - The net profit after deducting non-recurring gains and losses was ¥186,619,511.82, a decline of 79.48% compared to the previous year[33]. - The net cash flow from operating activities was ¥191,848,294.84, representing a decrease of 75.54% year-on-year[33]. - Basic earnings per share were ¥0.21, down 77.17% from ¥0.92 in the same period last year[33]. - Total assets at the end of the reporting period were ¥3,915,951,049.55, a decrease of 5.43% from the end of the previous year[33]. - The net assets attributable to shareholders were ¥3,330,363,334.39, down 7.51% compared to the previous year[33]. - The weighted average return on net assets was 5.93%, a decrease of 38.86% from 44.79% in the same period last year[33]. - The company achieved an operating income of approximately ¥998.85 million in the first half of 2020, a decrease of 30.94% compared to the same period last year[64]. - Operating costs increased by 46.68% to ¥739,710,455.53 from ¥504,317,003.98, attributed to a significant increase in product sales volume[71]. - The net profit of Beidahuang Baoquanling Agricultural Development Co., Ltd. was CNY 42,108,944.67, a year-on-year decrease of 68.58%, primarily due to a decline in chicken product sales prices[94]. Dividends and Shareholder Returns - The company plans to distribute cash dividends of 1 RMB per 10 shares to all shareholders, based on a total of 990,261,363 shares[15]. - The total cash dividend distributed was CNY 99,026,136.30, representing 100% of the profit distribution total[101]. - The company’s cash dividend per 10 shares is CNY 1.00 (including tax)[101]. - The company’s cash dividend distribution plan was approved by the board and complies with relevant procedures, ensuring no harm to shareholders' rights[101]. - The company’s available distributable profit was CNY 1,054,746,833.35[101]. Operational Strategy and Market Position - The company is the largest breeding chicken producer in China and has imported Hubbard breeding stock to reduce dependency on foreign sources, aiming to enhance its core competitiveness[9]. - The company aims to increase the market share of domestically bred chicken varieties to over 60% by 2025 as part of a national genetic improvement plan[6]. - The company is focused on expanding its breeding capabilities and enhancing the quality and efficiency of imported breeds[9]. - The company is actively developing customer relationships to stabilize product quality and meet market demands, addressing risks associated with price fluctuations in poultry products[10]. - The company emphasizes the importance of a flexible and competitive breeding industry structure to support sustainable growth in the poultry sector[9]. - The company operates in the livestock industry, focusing on breeding and sales of various poultry and swine products, including parent stock broilers and breeding pigs[44]. - The company is the largest breeder of grandparent white feather broiler chickens in China, leveraging over 30 years of experience to establish unique technological and research advantages[54]. - The company has expanded its breeding scale of white feather broiler chickens and is actively developing the pig breeding industry, with multiple new pig farms under construction[64]. Risk Management and Biosecurity - The company reported a significant reliance on foreign suppliers for breeding technology, which poses risks if these suppliers reduce or stop the supply of breeding chickens due to disease or other reasons[5]. - The company is committed to improving biosecurity measures to prevent disease outbreaks that could impact its operations[11]. - The company has established strategic partnerships with multiple large raw material suppliers to mitigate risks related to price volatility of key ingredients like corn and soybean meal[15]. - The company continues to prioritize the purification and control of vertically transmitted diseases as a key area of R&D investment[71]. - The company has implemented a disease purification strategy to enhance the quality of breeding chickens, focusing on eliminating specific poultry diseases[60]. Research and Development - The company has established a comprehensive technical system with multiple R&D departments focusing on disease control, nutrition, breeding, and waste treatment[71]. - The company is actively involved in a national key research and development project aimed at enhancing the efficiency and safety of broiler chicken farming[55]. - The company achieved a significant breakthrough in breeding technologies, maintaining high levels of antibody uniformity and survival rates in parent stock chickens[71]. - Research and development expenses rose by 178.97% to ¥20,138,466.13 from ¥7,218,871.61, reflecting increased capital expenditures in R&D[71]. Environmental and Social Responsibility - The company has invested in environmental technology, establishing facilities for biological fermentation to convert livestock waste into organic fertilizer, capable of processing 120,000 tons of manure annually[60]. - The company has implemented environmental protection measures, including the removal of coal-fired boilers and installation of natural gas and biomass boilers[144]. - The company donated nearly ¥11 million to support COVID-19 prevention efforts and provided various protective materials during the pandemic[64]. Shareholder Structure and Stock Options - The total number of shares increased to 990,261,363, with the proportion of restricted shares decreasing to 37.13%[153]. - Major shareholder Cao Jisheng held 41.25% of the shares, totaling 408,467,929 shares, with a pledge of 29,002,000 shares[163]. - The company implemented a stock option incentive plan to motivate key personnel, with specific conditions for the release of locked shares[159]. - The total number of shares held by the board members and senior management has seen significant increases, with notable increases in holdings by Guo Xinmin and Ji Yongmei[184]. - The adjustments to the stock option plan indicate a proactive approach to incentivizing employees and aligning their interests with shareholder value[155]. Legal and Compliance - The company has not undergone any major litigation or arbitration matters during the reporting period, indicating a stable legal environment[112]. - The company has not received any non-standard audit reports for the previous year, suggesting compliance with financial regulations[111]. - There are no significant penalties or rectification measures imposed on the company during the reporting period, highlighting its adherence to regulatory standards[117]. - The company is currently involved in ongoing litigation related to a loan dispute, with an amount in question of 5.27 million yuan, but it does not expect to bear significant liability[115].

Financial Performance - The company's revenue for Q1 2020 was ¥551,952,200.71, a decrease of 15.28% compared to ¥651,486,939.01 in the same period last year[7] - Net profit attributable to shareholders was ¥195,736,402.49, down 48.75% from ¥381,941,911.73 year-on-year[7] - The total profit for Q1 2020 was ¥197,934,860.84, a decrease of 48.09% year-on-year, primarily due to the impact of the pandemic leading to a decline in product prices and gross profit[22] - Net profit for Q1 2020 was ¥197,145,344.59, down 48.29% year-on-year, attributed to the same pandemic-related factors affecting product pricing[27] - Operating profit fell to ¥204,193,139.11 compared to ¥381,323,085.06 in the previous period, representing a decrease of about 46.5%[51] - The total comprehensive income for the period was ¥197,145,344.59, down from ¥381,276,197.99, a decline of about 48.3%[53] - The total profit for the period was 149,572,780.65, a decrease from 303,741,756.18 in the previous period, reflecting a decline of approximately 50.8%[56] - Operating profit for the current period was 155,515,140.40, down from 303,739,137.43, indicating a decrease of about 48.9%[56] Cash Flow and Liquidity - The net cash flow from operating activities was ¥109,214,350.24, representing a decline of 63.75% compared to ¥301,278,074.55 in the previous year[7] - Cash received from operating activities in Q1 2020 was ¥6,942,286.42, an increase of 168.97% year-on-year, primarily due to higher interest income[30] - Cash flow from operating activities generated a net amount of 109,214,350.24, compared to 301,278,074.55 in the previous period, representing a decline of approximately 63.7%[61] - The company reported cash inflow from investment activities of 939,808,796.34, significantly higher than 190,123.50 in the previous period[61] - The net cash flow from financing activities was -578,804,343.41, compared to -62,295,832.09 in the previous period, indicating a worsening of approximately 828.5%[63] - The company paid 577,274,541.00 in dividends and interest, compared to 4,315,832.09 in the previous period, reflecting a significant increase[63] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,585,037,081.47, a decrease of 13.42% from ¥4,140,859,202.23 at the end of the previous year[7] - The company's net assets attributable to shareholders were ¥3,231,388,696.21, down 10.26% from ¥3,600,728,050.97 at the end of the previous year[7] - Total liabilities decreased to ¥345,705,925.03 from ¥533,597,633.13, reflecting a decline of about 35.2%[40] - The company's equity attributable to shareholders decreased to ¥3,231,388,696.21 from ¥3,600,728,050.97, a decrease of approximately 10.2%[42] - Current assets totaled ¥1,173,761,262.78, down from ¥1,710,317,008.91, indicating a decrease of about 31.3%[36] - The balance of accounts payable as of March 31, 2020, was ¥117,014,257.21, a decrease of 52.39% compared to the end of 2019, due to payments made for the purchase of remaining debts and equity[7] Research and Development - Research and development expenses for Q1 2020 amounted to ¥5,866,967.21, an increase of 33.45% year-on-year, reflecting continued investment in research[17] - Research and development expenses increased to ¥5,866,967.21 from ¥4,396,236.04, reflecting a growth of about 33.5% year-over-year[49] Other Income and Gains - The company reported a non-recurring gain of ¥28,382,714.15 during the period[7] - The company reported a significant increase in other income for Q1 2020, totaling ¥1,418,772.82, which is up 304.67% year-on-year, mainly due to increased government subsidies[19] Shareholder Activities - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[16] - The company’s capital reserve as of March 31, 2020, was ¥480,211,463.79, a decrease of 45.21% year-on-year, mainly due to the transfer of capital reserve to increase share capital[14] Changes in Accounting Standards - The company implemented new revenue and leasing standards starting January 1, 2020, affecting the financial statements[68] - The company adopted the new revenue recognition standard starting January 1, 2020, adjusting pre-receipts to contract liabilities[76] Company Leadership - The chairman of the company is Cao Jisheng, as of April 30, 2020[80]

Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 15% in 2019[18]. - The company's operating revenue for 2019 was CNY 3,583,534,105.26, representing a 143.26% increase compared to the previous year[6]. - The net profit attributable to shareholders for 2019 was CNY 2,176,039,144.86, showing a significant increase of 499.73% year-over-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,175,209,364.60, reflecting a 498.29% increase compared to the previous year[6]. - The net cash flow from operating activities for 2019 was CNY 2,134,744,427.38, an increase of 397.85% year-over-year[6]. - Basic earnings per share for 2019 were CNY 3.79, up 501.59% from CNY 0.63 in 2018[6]. - The diluted earnings per share for 2019 were CNY 3.77, representing a 498.41% increase compared to the previous year[6]. - The weighted average return on equity for 2019 was 83.18%, an increase of 57.36 percentage points from 25.82% in 2018[6]. - Total assets at the end of 2019 were CNY 4,140,859,202.23, a 79.21% increase from CNY 2,310,623,565.50 at the end of 2018[6]. - The net assets attributable to shareholders at the end of 2019 were CNY 3,600,728,050.97, reflecting a 125.73% increase compared to CNY 1,595,173,638.53 at the end of 2018[6]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[18]. - The company aims to increase its production capacity by 20% in the upcoming fiscal year to meet growing market demand[18]. - The company is exploring potential mergers and acquisitions to accelerate growth and expand its market share[18]. - The company has established strategic partnerships to enhance its supply chain efficiency and reduce operational costs[18]. - The company is actively developing its pig breeding business, leveraging successful experiences from its chicken breeding operations[121]. Product Development and Innovation - The company has introduced the new Lifen breed of white feather broiler chickens, which shows significant advantages in egg production rate and feed-to-meat ratio compared to older breeds[63]. - The company has successfully developed a new chicken breed "Yisheng 909," which is currently in the trial promotion stage, showing significant advantages over mainstream breeds[92]. - The company is focusing on the development of white feather broiler chicken, which has become a leading meat consumption product in developed countries[116]. Sustainability and Environmental Practices - The company is committed to sustainable practices and has invested in environmentally friendly technologies to reduce its carbon footprint[18]. - The company emphasizes environmental sustainability by promoting the use of organic fertilizers derived from waste, contributing to a circular economy[118]. - The company’s organic fertilizer production utilizes waste from poultry farming, contributing to sustainable agricultural practices[48]. Operational Efficiency and Cost Management - The company reported a net profit margin of 12% for the fiscal year 2019, reflecting effective cost management strategies[18]. - The company has implemented strict biosecurity measures to mitigate risks from poultry diseases, including batch management and full entry-exit protocols[131]. - The company faces risks related to raw material price fluctuations, particularly for corn and soybean meal, which significantly impact production costs[132]. - The company is addressing the risk of price fluctuations in the poultry market by enhancing customer development and maintaining product quality[130]. Research and Development - Research and development (R&D) expenses increased by 50.99% to ¥29,503,969.37, primarily due to new R&D projects[90]. - The total R&D investment amounted to ¥75,300,830.65, a significant increase of 231.88% compared to the previous year[98]. - The number of R&D personnel increased by 11.76% to 38, maintaining a stable proportion of 0.96% of the total workforce[94]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of 10.00 RMB per 10 shares (including tax) to all shareholders, based on a total share capital of 577,045,341 shares[6]. - In 2019, the cash dividend represented 34.43% of the net profit attributable to ordinary shareholders, amounting to RMB 749,253,068.40[141]. - The company has not proposed any stock dividends for the year 2019, maintaining a focus on cash dividends[144]. Industry Position and Challenges - The company operates in a highly cyclical industry, with a breeding cycle that requires over six months before economic returns are realized[54]. - The company faces a supply shortage of white feather broiler breeding stock due to import restrictions from major exporting countries, with annual imports falling below 750,000 sets from 2015 to 2018[53]. - The livestock industry is positioned for growth, with significant opportunities for industrialized operations amid ongoing agricultural supply-side reforms in China[49]. Financial Management and Governance - The company has not experienced any significant accounting errors requiring retrospective restatement during the reporting period[159]. - The company has maintained its accounting firm, He Xin Accounting Firm, for four consecutive years, with an audit fee of CNY 900,000[161]. - The company has not faced any penalties or rectification issues during the reporting period[169].

山东益生种畜禽股份有限公司 2019 年第三季度报告全文 山东益生种畜禽股份有限公司 2019 年第三季度报告 2019 年 10 月 山东益生种畜禽股份有限公司 2019 年第三季度报告全文 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。 公司负责人曹积生、主管会计工作负责人林杰及会计机构负责人(会计主管 人员)徐淑艳声明：保证季度报告中财务报表的真实、准确、完整。 山东益生种畜禽股份有限公司 2019 年第三季度报告全文 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 | --- | --- | --- | --- | --- | |-----------------------------------------------------|------------------|-------------------------|------------------|--------------- ...