Group 1: Company Strategy - The company aims to adhere to the principle of "refining, strengthening, and enduring," focusing on market demand to improve existing technologies and processes, enhance food safety, and increase product quality [2] - The strategic plan includes expanding the company's scale, enhancing technological and product innovation capabilities, and improving corporate governance to strengthen core competitiveness [3] - The company plans to combine brand expansion with capital operations, pursuing both organic and external growth [2][3] Group 2: Current Performance and Future Goals - The company reports a stable and improving operational performance, with goals to continuously expand scale and diversify product offerings through both internal and external growth strategies [3] - The performance targets for the next two years are set to achieve steady and healthy growth [3] Group 3: Product Positioning and Market Differentiation - The company positions its products at a "mid-range price and mid-to-high quality," focusing on enhancing R&D investment and technological capabilities to meet market demand [3] - The company has a strong market presence in the mid-to-high-end dining sector, particularly in regions like Central China, North China, and Northeast China, with a high market share [3] Group 4: New Product Development - The company has recently launched new products such as student meals and chili sauce, adhering to the principle of combining independent innovation with open cooperation [4] - Continuous development and improvement of products tailored to customer needs are emphasized to enhance product structure and quality [4] Group 5: Expansion Plans - The company is actively seeking investment opportunities in projects with broad market prospects and growth potential to expand its scale and market reach [4]

[Key Financial Data](index=1&type=section&id=Key%20Financial%20Data) In Q3 2022, the company's performance diverged: single-quarter operating revenue grew by 12.94% and net profit attributable to parent company shareholders surged by 617.68%; however, year-to-date cumulative data showed operating revenue decreased by 20.14%, turning from profit to a net loss of **RMB 1.85 million** attributable to parent company shareholders, indicating significant overall operational pressure despite Q3 improvement Key Accounting Data and Financial Indicators | Indicator | Current Period (Q3) (RMB) | YoY Change (Current Period) | Year-to-Date (YTD) (RMB) | YoY Change (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 66,332,629.77 | 12.94% | 168,107,497.77 | -20.14% | | Net Profit Attributable to Parent Company Shareholders | 3,233,544.82 | 617.68% | -1,849,671.35 | -109.91% | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | 3,036,079.47 | 1,191.44% | -3,545,253.39 | -120.07% | | Net Cash Flow from Operating Activities | — | — | -17,707,245.37 | 86.24% | | Basic Earnings Per Share (RMB/share) | 0.0035 | 600.00% | -0.0020 | -110.00% | | Total Assets | 1,281,466,955.86 | -1.59% (vs. end of prior year) | 1,281,466,955.86 | -1.59% (vs. end of prior year) | | Total Equity Attributable to Parent Company Shareholders | 1,216,577,030.88 | -0.15% (vs. end of prior year) | 1,216,577,030.88 | -0.15% (vs. end of prior year) | Year-to-Date Non-recurring Gains and Losses Items | Item | YTD Amount (RMB) | Description | | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | -267,212.17 | Loss from disposal of non-current assets | | Government Grants | 915,480.10 | Various government grants received | | Gains/Losses from Entrusted Investments or Asset Management | 953,594.07 | Cash dividends from Qianhai Equity Exchange Investment Holding (Shenzhen) Co., Ltd | | **Total** | **1,695,582.04** | -- | [Changes and Reasons for Key Accounting Data and Financial Indicators](index=2&type=section&id=Changes%20and%20Reasons%20for%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company experienced significant fluctuations in multiple financial indicators, with accounts receivable surging by 1322.82% due to sales collection policies, and year-to-date operating revenue declining by 20.14% due to weak downstream markets, while cash flow from operating activities deteriorated and investing cash flow turned significantly negative due to prior year's asset disposal income [Reasons for Balance Sheet Item Changes](index=2&type=section&id=Reasons%20for%20Balance%20Sheet%20Item%20Changes) The balance sheet shows accounts receivable surged by 1322.82% due to sales collection policies, construction in progress significantly decreased by 72.71% as projects were completed and capitalized, and contract liabilities and other current liabilities declined by 69.30% and 81.94% respectively due to reduced advance receipts Key Balance Sheet Item Changes | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Accounts Receivable | 1322.82% | Due to sales collection policy in the current period | | Other Receivables | 316.99% | Due to unreceived cash dividends of RMB 953,600 from Qianhai Holding at period end | | Construction in Progress | -72.71% | Unfinished construction in progress at the end of the prior period has been successively completed and capitalized in the current period | | Contract Liabilities | -69.30% | Decrease in advance receipts related to sales of goods and provision of services at the end of the current period | | Other Current Liabilities | -81.94% | Decrease in advance receipts related to sales of goods and provision of services at the end of the current period | [Reasons for Income Statement Item Changes](index=3&type=section&id=Reasons%20for%20Income%20Statement%20Item%20Changes) Year-to-date, operating revenue decreased by 20.14% due to weak downstream consumption affected by the pandemic, selling expenses decreased by 41.62% due to reduced market promotion, and income tax expense decreased by 79.71% corresponding to lower total profit Key Income Statement Item Changes (Year-to-Date) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | -20.14% | Affected by the resurgence of the pandemic, downstream market consumption was weak, terminal demand was insufficient, and orders declined | | Selling Expenses | -41.62% | Market promotion investment decreased year-on-year in the current period | | Non-operating Income | 2544.26% | Trademark infringement compensation received in the current period | | Income Tax Expense | -79.71% | Total profit realized in the current period decreased year-on-year, and corresponding income tax expense decreased | [Reasons for Cash Flow Statement Item Changes](index=3&type=section&id=Reasons%20for%20Cash%20Flow%20Statement%20Item%20Changes) Year-to-date, net cash flow from operating activities deteriorated by 86.24% due to decreased sales, net cash flow from investing activities turned significantly negative by 205.17% primarily due to large asset disposal income in the prior year, and net cash flow from financing activities improved by 98.32% due to lower cash dividends paid in the current period Key Cash Flow Statement Item Changes (Year-to-Date) | Item | Change Percentage | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -86.24% | Sales decreased year-on-year, and cash received from sales of goods and provision of services decreased year-on-year | | Net Cash Flow from Investing Activities | -205.17% | Funds received from the sale of Chiwei land and factory in the prior period | | Net Cash Flow from Financing Activities | 98.32% | The 2020 cash dividend plan was implemented in the prior period, leading to an increase in cash payments | [Shareholder Information](index=4&type=section&id=Shareholder%20Information) As of the end of the reporting period, the company had 48,485 common shareholders, with the controlling shareholder and actual controller, the Lin Pingtao family, collectively holding 38.28% of the shares, indicating a stable and highly concentrated ownership structure - At the end of the reporting period, the company had **48,485** common shareholders[13](index=13&type=chunk) - The controlling shareholders and actual controllers are Lin Pingtao, Xu Qiaochuan, Lin Changhao, Lin Changqing, and Lin Changchun, who collectively hold **38.28%** of the company's total share capital, with Lin Pingtao and Xu Qiaochuan being a married couple and the other three being their sons[14](index=14&type=chunk) Top Five Shareholders' Shareholding | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | Lin Pingtao | 17.15% | 160,454,761 | | Lin Changhao | 8.36% | 78,194,308 | | Xu Qiaochuan | 6.09% | 56,938,527 | | Lin Changqing | 4.82% | 45,052,485 | | Lin Changchun | 1.88% | 17,548,528 | [Quarterly Financial Statements](index=5&type=section&id=Quarterly%20Financial%20Statements) This section presents the unaudited consolidated financial statements for Q3 2022, including the balance sheet, year-to-date income statement, and cash flow statement, providing a detailed overview of the company's financial position at the end of the reporting period and its operating results and cash flows for the first three quarters [Consolidated Balance Sheet](index=5&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2022, total assets were **RMB 1.28 billion**, a 1.59% decrease from the beginning of the year, total liabilities were **RMB 64.89 million**, a 22.55% decrease, indicating a low debt-to-asset ratio, and total equity attributable to the parent company was **RMB 1.22 billion**, remaining largely stable Consolidated Balance Sheet Key Data (September 30, 2022) | Item | September 30, 2022 (RMB) | January 1, 2022 (RMB) | | :--- | :--- | :--- | | Total Assets | 1,281,466,955.86 | 1,302,208,755.06 | | Total Liabilities | 64,889,924.98 | 83,782,052.83 | | Total Equity Attributable to Parent Company | 1,216,577,030.88 | 1,218,426,702.23 | [Consolidated Income Statement (Year-to-Date)](index=8&type=section&id=Consolidated%20Income%20Statement%20(Year-to-Date)) For the first three quarters of 2022, total operating revenue was **RMB 168.11 million**, a 20.14% decrease year-on-year, with total operating costs of **RMB 168.88 million**, resulting in a net loss of **RMB 1.85 million** compared to a net profit of **RMB 18.67 million** in the prior year, indicating a significant decline in profitability Consolidated Income Statement Key Data (Year-to-Date) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 168,107,497.77 | 210,508,066.89 | | Total Operating Costs | 168,878,206.33 | 185,786,366.24 | | Operating Profit | -898,010.61 | 24,041,615.35 | | Net Profit | -1,849,671.35 | 18,670,545.50 | | Net Profit Attributable to Parent Company Shareholders | -1,849,671.35 | 18,670,545.50 | [Consolidated Cash Flow Statement (Year-to-Date)](index=9&type=section&id=Consolidated%20Cash%20Flow%20Statement%20(Year-to-Date)) For the first three quarters of 2022, net cash flow from operating activities was **RMB -17.71 million**, further deteriorating from **RMB -9.51 million** in the prior year, with net cash outflow from investing activities of **RMB 16.28 million** and from financing activities of **RMB 0.13 million**, resulting in cash and cash equivalents of **RMB 288.07 million** at period end, a decrease of **RMB 34.11 million** from the beginning of the period Consolidated Cash Flow Statement Key Data (Year-to-Date) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -17,707,245.37 | -9,507,811.11 | | Net Cash Flow from Investing Activities | -16,276,715.29 | 15,476,214.06 | | Net Cash Flow from Financing Activities | -125,600.00 | -7,484,998.79 | | Net Increase in Cash and Cash Equivalents | -34,109,560.66 | -1,516,595.84 | | Cash and Cash Equivalents at Period End | 288,074,797.16 | 229,904,097.22 |

Financial Performance - The company's operating revenue for the first half of 2022 was ¥101,774,868, a decrease of 32.94% compared to ¥151,774,851.32 in the same period last year[25]. - The net profit attributable to shareholders was a loss of ¥5,083,216.17, representing a decline of 127.90% from a profit of ¥18,219,991.72 in the previous year[25]. - The net cash flow from operating activities was negative at ¥33,982,727.23, worsening by 250.36% compared to a negative cash flow of ¥9,699,444.46 in the same period last year[25]. - The total profit for the company was -5.12 million yuan, down 122.60% year-on-year, while the net profit attributable to shareholders was -5.08 million yuan, a decline of 127.90%[37]. - The company's gross profit margin in the seasoning industry was 27.41%, down from the previous year, with revenue from this segment declining by 33.15%[64]. - The company reported a significant increase in other operating income, which rose by 2,544.26% to ¥103,126, primarily from trademark infringement compensation[69]. - The company experienced a comprehensive loss of -5,083,216.17 yuan during the reporting period, indicating a decline in overall financial health[168]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,282,758,336.93, a decrease of 1.49% from ¥1,302,208,755.06 at the end of the previous year[25]. - Cash and cash equivalents at the end of the reporting period amounted to ¥279,231,873.59, representing 21.77% of total assets, a decrease of 2.97% compared to the previous year[71]. - Accounts receivable increased to ¥50,095,025.70, accounting for 3.91% of total assets, up by 3.68% due to sales collection influenced by policies[71]. - Inventory decreased to ¥15,910,100.52, representing 1.24% of total assets, down by 0.33% from the previous year[72]. - Total liabilities decreased from ¥83,782,052.83 to ¥69,414,850.87, a decline of about 17.2%[153]. Market and Product Performance - The company's main products, chicken powder and chicken essence, accounted for 49.82% and 21.92% of total revenue, respectively[33]. - Revenue from chicken powder decreased by 40.21%, while chicken essence revenue fell by 32.39%, reflecting overall market challenges[47]. - The Northeast region experienced a 45.47% decline in revenue, contributing to the overall decrease in sales performance[64]. - The company faced significant challenges due to the pandemic, leading to a decrease in sales orders and production efficiency, resulting in increased unit costs[37]. Research and Development - Research and development expenses increased by 24.10% to ¥5,070,781.27, indicating a focus on new product development[62]. - The company holds 7 invention patents, 18 utility model patents, and 20 design patents, emphasizing its commitment to R&D and innovation[58]. - The company is actively developing new products and technologies to enhance core competitiveness and improve production efficiency[37]. Strategic Initiatives - The company implemented strategic adjustments to maintain market share, including enhancing market research and optimizing procurement processes to control material costs[37]. - The company aims to stabilize its market share by exploring new sales channels and enhancing customer engagement[37]. - The company has established a strong marketing network with primary distributors in key regions, enhancing product distribution efficiency[59]. Risk Management - The company faced risks including raw material price fluctuations, market competition, and high customer concentration, which could adversely affect operational performance[83][85]. - The company is implementing measures to track raw material prices and adjust procurement plans to mitigate risks from price fluctuations[90]. - The company has established a quality control system to mitigate risks related to food safety and product quality[86]. Governance and Compliance - The company has established a governance structure that promotes compliance with laws and regulations, ensuring all shareholders have equal access to information[105]. - The company is committed to complying with environmental regulations and has implemented measures to reduce carbon emissions, including a solar power project with a capacity of 1,070.32 kW[102]. - The company has not reported any major related party transactions during the reporting period[123]. Shareholder Information - The total number of shares outstanding is 935,625,600, with 76.31% being unrestricted shares[136]. - The top five shareholders collectively held 358,188,609 shares, accounting for 38.28% of the total share capital[139]. - The company has not distributed cash dividends or issued new shares from capital reserves in the reporting period[97].

Financial Performance - The company's operating revenue for 2021 was ¥279,795,197.05, representing a 14.99% increase compared to ¥243,328,651.83 in 2020[20] - The net profit attributable to shareholders for 2021 was ¥26,716,169.94, a significant increase of 174.04% from ¥9,748,957.91 in 2020[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥16,147,474.61, up 89.73% from ¥8,510,866.87 in 2020[20] - The net cash flow from operating activities for 2021 was ¥88,838,661.47, an increase of 41.14% compared to ¥62,945,752.33 in 2020[20] - The basic earnings per share for 2021 was ¥0.0286, reflecting a 175.00% increase from ¥0.0104 in 2020[20] - Total assets at the end of 2021 were ¥1,302,208,755.06, a 1.96% increase from ¥1,277,190,223.71 at the end of 2020[20] - The net assets attributable to shareholders at the end of 2021 were ¥1,218,426,702.23, up 1.60% from ¥1,199,195,531.08 at the end of 2020[20] - The weighted average return on net assets for 2021 was 2.21%, an increase from 0.82% in 2020[20] - The total operating costs for 2021 amounted to ¥179,686,593.29, representing a year-on-year increase of 21.80%[67] - The cost of raw materials for seasoning products was ¥128,000,364.30, accounting for 71.24% of total operating costs, with a year-on-year increase of 20.33%[67] Revenue Sources - The company's main products, chicken powder and chicken essence, contributed 53.52% and 22.48% to total revenue, respectively[33] - The total revenue from the distribution model was approximately ¥274.37 million, with a gross margin of 34.51%, reflecting a 17.41% increase in revenue compared to the previous year[41] - Chicken powder generated revenue of approximately ¥149.74 million, with a gross margin of 38.98%, while chicken essence brought in about ¥62.90 million with a gross margin of 35.28%[41] - The seasoning industry contributed CNY 274.37 million, accounting for 98.06% of total revenue, with a year-on-year growth of 17.41%[62] - Chicken powder sales amounted to CNY 149.74 million, representing 53.52% of total revenue, with a growth of 17.20%[62] Market and Industry Insights - The market size of China's seasoning industry grew from ¥259.5 billion in 2014 to ¥395 billion in 2020, with a compound annual growth rate of 7.25%[29] - The seasoning industry is characterized by low demand elasticity, providing strong operational stability despite external economic factors[31] - The company has been recognized as a "High-tech Enterprise" in Guangdong Province, enhancing its competitive advantage in the seasoning industry[32] Production and Operations - The company operates a mixed production model, combining self-production and commissioned production to optimize efficiency[34] - The production volume of chicken powder increased by 39.99% to 11,737 tons, while sales volume rose by 18.07% to 11,664 tons[52] - The company achieved a 22.18% increase in total cost of goods sold for chicken powder, amounting to ¥91,361,566.41[50] - The production capacity of the Yinggeshan branch was 17,878 tons in 2021, compared to a designed capacity of 26,108 tons[52] - The inventory of finished products for chicken powder increased by 148.98% to 122 tons, indicating a potential overstock situation[52] Research and Development - The company holds 7 invention patents, 19 utility model patents, and 20 design patents, showcasing its commitment to technological innovation[54] - Research and development expenses increased by 5.75% year-on-year to ¥9,787,803.65[72] - The company completed several R&D projects, including a new chicken essence product with enhanced flavor and nutritional value[76] - The company developed a unique fresh mustard sauce suitable for various cuisines, enhancing product variety and market share[76] - The company plans to increase R&D investment and innovate new products and technologies to enhance market competitiveness[98] Risk Management - The company faces risks related to raw material price fluctuations, which could impact market competitiveness and operating performance[101] - The company has a high customer concentration risk, with the top five customers accounting for a significant portion of its revenue[103] - There is a risk of asset impairment as the company’s fixed assets, inventory, and receivables grow, which could negatively impact the profit statement if market values decline significantly[108] - The ongoing COVID-19 pandemic has increased operational costs and logistics challenges, potentially leading to a decline in business performance depending on the duration of the pandemic and local control measures[109] - Regulatory risks are heightened as new food safety and environmental protection laws may impose stricter requirements, potentially affecting the company's operations and financial status[110] Corporate Governance - The company has established a fair and transparent performance evaluation and incentive mechanism for its directors and senior management, linking their compensation to company performance and individual achievements[123] - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, ensuring a complete and independent business system[126] - The company has a structured remuneration decision-making process involving the board's remuneration and assessment committee[142] - The company’s board of directors has maintained a high attendance rate, with no independent director missing consecutive meetings[146] - The company has established a relatively complete corporate governance structure and internal control system, but acknowledges the need for ongoing improvements[172] Environmental and Social Responsibility - The company has maintained compliance with environmental standards, with all waste gas, wastewater, and noise emissions meeting national regulations during the reporting period[178] - The company has invested in advanced low-noise equipment and implemented noise reduction measures to ensure that factory noise levels comply with emission standards[178] - The company has taken measures to manage solid waste properly, including setting up hazardous waste storage and regularly transferring hazardous waste to qualified disposal units[178] - The company has focused on employee rights by ensuring timely payment of insurance and benefits, and has established a human resources management system[181] - The company has not yet initiated any poverty alleviation or rural revitalization efforts during the reporting period[185] Financial Reporting and Compliance - The company has implemented changes in accounting policies due to the new leasing standards effective from January 1, 2021[194] - The company will recognize right-of-use assets and lease liabilities for all leases except short-term and low-value asset leases[195] - The internal control audit report concluded that the company maintained effective internal controls over financial reporting as of December 31, 2021[171] - The company has no dissenting opinions regarding the supervisory activities conducted during the reporting period[153] - The company has not reported any significant environmental issues during the reporting period and has adhered to various environmental protection laws[179]

Financial Performance - The company's revenue for Q1 2022 was ¥55,132,876.54, a decrease of 12.70% compared to ¥63,149,785.40 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥2,182,269.48, representing a decline of 171.04% from a profit of ¥3,071,918.28 in the previous year[4] - The company's basic and diluted earnings per share were both -¥0.0023, a decrease of 169.70% from ¥0.0033 in the same period last year[4] - The operating profit for the current period is -$1,957,177.43, compared to an operating profit of $4,726,903.83 in the previous period, reflecting a substantial decrease[22] - The total comprehensive income for the current period is -$2,182,269.48, down from $3,071,918.28 in the previous period, reflecting a significant drop in overall financial performance[23] Cash Flow - The net cash flow from operating activities was negative at ¥32,951,630.47, showing a slight improvement of 0.85% compared to the previous year's negative cash flow of ¥33,235,612.88[4] - Cash flow from operating activities shows a net outflow of -$32,951,630.47, slightly improved from -$33,235,612.88 in the previous period[26] - Cash and cash equivalents decreased from ¥322,184,357.82 at the beginning of the year to ¥277,783,182.63[16] - Cash and cash equivalents at the end of the period stand at $277,783,182.63, down from $206,329,956.84 in the previous period[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,291,518,650.12, down 0.82% from ¥1,302,208,755.06 at the end of the previous year[4] - The company's total assets amount to ¥1,291,518,650.12, with current assets at ¥356,423,194.95 and non-current assets at ¥935,095,455.17[18] - The total liabilities are ¥75,274,217.37, with current liabilities at ¥43,040,365.32 and non-current liabilities at ¥32,233,852.05[19] - The total equity attributable to the parent company is ¥1,216,244,432.75, with retained earnings of ¥166,926,099.40[19] - The company reported a decrease in total equity from ¥1,218,426,702.23 to ¥1,216,244,432.75[19] Expenses - The company's research and development expenses increased by 37.64% to ¥2,182,162.13, compared to ¥1,585,385.39 in the previous year[10] - The company reported a decrease in sales expenses by 49.23% to ¥853,644.11, attributed to reduced marketing promotions[10] - Total operating costs for the current period are $55,584,434.77, compared to $56,546,350.82 in the previous period, showing a decrease of about 1.7%[22] Accounts Receivable and Inventory - The accounts receivable increased significantly by 1286.82% to ¥40,928,258.60, primarily due to changes in sales collection policies[8] - Accounts receivable increased significantly from ¥2,951,237.45 to ¥40,928,258.60[16] - Inventory increased from ¥20,445,168.23 to ¥25,017,967.77[16] Shareholder Information - The total number of common shareholders at the end of the reporting period is 51,294[14] - The top 10 shareholders collectively hold 358,188,609 shares, accounting for 38.28% of the total share capital[14] - The company has a total of 5,630,521 shares held by shareholder Chen Lili, accounting for 0.60% of the total share capital[14] Audit Status - The company has not undergone an audit for the first quarter report[28]

Revenue and Profitability - The company's revenue for Q3 2021 was ¥58,733,215.57, a decrease of 15.30% compared to the same period last year, while year-to-date revenue increased by 39.43% to ¥210,508,066.89[2] - Net profit attributable to shareholders for Q3 2021 was ¥450,553.78, down 94.31% year-on-year, but year-to-date net profit increased significantly by 505.42% to ¥18,670,545.50[2] - The basic earnings per share for Q3 2021 was ¥0.0005, a decrease of 94.12% compared to the same period last year, while year-to-date earnings per share increased by 508.16% to ¥0.0200[2] - Total operating revenue for the third quarter reached ¥210,508,066.89, compared to ¥150,973,771.51 in the previous period, indicating a significant increase[19] - Net profit for the period was ¥18,670,545.50, a turnaround from a net loss of ¥4,605,270.85 in the same period last year[21] - Operating profit improved to ¥24,041,615.35, compared to a loss of ¥4,637,762.11 in the previous year, showcasing operational efficiency[20] - Basic and diluted earnings per share were both ¥0.0200, compared to a loss per share of ¥0.0049 in the prior period[21] Assets and Liabilities - Total assets at the end of Q3 2021 were ¥1,302,049,648.94, reflecting a 1.95% increase from the end of the previous year[3] - Total assets reached ¥1,302,049,648.94, up from ¥1,277,190,223.71, marking a growth of about 1.9%[16] - Non-current assets totaled ¥945,292,328.95, a decrease from ¥986,206,450.18, reflecting a decline of approximately 4.2%[16] - The company reported a decrease in accounts payable from ¥20,412,963.68 to ¥9,539,429.55, a reduction of about 53.3%[16] - The total liabilities decreased from ¥1,277,190,223.71 to ¥1,302,049,648.94, indicating a slight increase in leverage[16] - The total liabilities increased to ¥91,668,571.15 from ¥77,994,692.63, indicating a rise in financial obligations[20] Cash Flow - The net cash flow from operating activities for the year-to-date was negative at -¥9,507,811.11, a decrease of 3.51% compared to the previous year[2] - Cash flow from operating activities showed a net outflow of ¥9,507,811.11, slightly worse than the previous year's outflow of ¥9,185,146.31[24] - The net cash flow from financing activities was -7,484,998.79, indicating a cash outflow due to dividend payments[25] - The net cash flow from investing activities improved by 189.28% to ¥15,476,214.06, primarily due to the sale of land and buildings[11] - Cash inflow from investment activities was ¥27,473,799.85, while cash outflow was ¥11,997,585.79, resulting in a net cash inflow of ¥15,476,214.06[24] - The net increase in cash and cash equivalents for the quarter was -1,516,595.84, compared to a decrease of 26,519,158.24 in the previous year[25] - The ending balance of cash and cash equivalents was 229,904,097.22, down from 231,420,693.06 at the beginning of the quarter[25] Inventory and Receivables - The company's accounts receivable increased by 207.44% to ¥55,738,622.98 due to changes in sales collection policies[7] - Accounts receivable increased significantly to ¥55,738,622.98 from ¥18,129,826.33, representing a growth of about 207.5%[15] - Inventory levels rose by 30.81% to ¥37,722,790.30 as the company increased stock in response to recovering sales[7] - Inventory rose to ¥37,722,790.30 from ¥28,836,907.45, indicating an increase of approximately 30.8%[15] - Prepayments increased to ¥10,016,608.11 from ¥8,679,332.80, showing a growth of approximately 15.4%[15] - The company reported a significant increase in prepayments, which rose by 3850.83% to ¥26,869,406.34 due to advance payments received from the sale of assets[8] Equity and Financial Position - The company’s total equity position remains strong, supporting future growth initiatives and potential market expansion strategies[16] - Total equity attributable to shareholders reached ¥1,210,381,077.79, up from ¥1,199,195,531.08 in the previous period, reflecting growth in shareholder value[20] Other Financial Information - The company did not adjust the beginning balance sheet items due to the new leasing standards, as it did not affect prior financial metrics[26] - The third quarter report was not audited, which may impact the reliability of the financial data presented[27]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥151,774,851.32, representing an increase of 85.93% compared to ¥81,630,250.84 in the same period last year[25]. - The net profit attributable to shareholders of the listed company reached ¥18,219,991.72, a significant increase of 245.55% from a loss of ¥12,518,028.40 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was ¥17,432,618.30, up 232.86% from a loss of ¥13,121,337.84 in the same period last year[25]. - The basic earnings per share increased to ¥0.0195, compared to a loss of ¥0.0134 per share in the previous year, marking a 245.52% improvement[25]. - The total profit reached 22.64 million yuan, reflecting a growth of 260.44% year-on-year[38]. - The total comprehensive income for the first half of 2021 was ¥18,219,991.72, compared to a loss of ¥12,518,028.40 in the first half of 2020, showcasing overall financial recovery[167]. - The total profit for the first half of 2021 was ¥22,636,171.39, compared to a loss of ¥14,108,890.77 in the first half of 2020, reflecting a strong recovery in financial performance[167]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,317,125,096.86, reflecting a 3.13% increase from ¥1,277,190,223.71 at the end of the previous year[25]. - The total liabilities as of June 30, 2021, amounted to ¥107,194,572.85, up from ¥77,994,692.63 at the end of 2020, representing an increase of 37.4%[158]. - The company's total assets at the end of the period are CNY 1,209,930,524.01, reflecting its asset management[189]. - The total equity of the company as of June 30, 2021, is 1,203,766,849.39 CNY, with a decrease of 8,100,999.32 CNY during the period[192]. Cash Flow - The net cash flow from operating activities was -¥9,699,444.46, an improvement of 70.28% compared to -¥32,631,179.66 in the same period last year[25]. - The cash flow from operating activities in the first half of 2021 was ¥130,565,878.80, a substantial increase from ¥44,292,380.28 in the same period of 2020, highlighting improved cash generation[173]. - The total cash inflow from operating activities was 134,857,577.04, while cash outflow was 146,612,244.05, resulting in a net cash flow of -11,754,667.01[177]. - The net cash flow from investment activities was 18,069,102.55, a significant recovery from -11,089,180.65 in the previous year[178]. Market Position and Strategy - The company has established a strong market position in the mid-to-high-end catering market in regions such as Central China, North China, and Northeast China[37]. - The company plans to enhance its product diversity by launching new products such as Jialong starch and Gangchu chicken juice to meet different customer needs[39]. - The company is focusing on optimizing production management and enhancing supply capabilities to meet market demand[38]. - The company has implemented targeted marketing strategies to enhance market penetration and strengthen its marketing network, contributing to sustained growth[60]. Risks and Challenges - The company faces risks from fluctuations in raw material prices, which could impact market competitiveness and operating performance[86]. - The company has a high customer concentration risk, with the top five customers accounting for a significant portion of revenue, potentially affecting sales stability[89]. - The company is exposed to quality control risks due to stringent food safety regulations, which could impact reputation and sales if issues arise[89]. - The company is facing risks related to the ongoing COVID-19 pandemic, which has led to supply chain disruptions and decreased customer demand, potentially affecting business performance[93]. Research and Development - Research and development investment was ¥4,086,190.83, a slight decrease of 5.14% from ¥4,307,475.30 year-on-year[63]. - The company plans to enhance research and development investment to improve technology and reduce production costs, aiming to increase product value and market competitiveness[96]. Environmental Compliance - The company has implemented measures to ensure compliance with environmental regulations, including monitoring by a qualified third-party agency[109]. - All waste gas, wastewater, and noise emissions from the company meet national environmental protection standards[109]. - During the reporting period, the company faced a fine of CNY 50,000 for failing to submit pollution discharge reports as required[108]. Shareholder Information - The total number of shares is 935,625,600, with 23.69% being restricted shares and 76.31% being unrestricted shares[140]. - The largest shareholder, Lin Pingtao, holds 17.15% of the shares, totaling 160,454,761 shares[142]. - The total shares held by the top five shareholders amount to 358,188,609 shares, representing 38.28% of the company's total equity[142]. Corporate Governance - The financial report was approved by the board of directors on August 26, 2021[195]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[121]. - The company did not distribute cash dividends or issue new shares during the reporting period[104].

Financial Performance - The company's revenue for Q1 2021 was CNY 63,149,785.40, representing a 96.36% increase compared to CNY 32,161,005.38 in the same period last year[9] - Net profit attributable to shareholders was CNY 3,071,918.28, a significant turnaround from a loss of CNY 11,193,399.82 in the previous year, marking a 127.44% improvement[9] - The net profit after deducting non-recurring gains and losses was CNY 3,244,613.21, compared to a loss of CNY 11,462,300.01 last year, reflecting a 128.31% increase[9] - Revenue for the current period reached ¥63,149,785.40, a 96.36% increase compared to ¥32,161,005.38 in the previous period, primarily due to the recovery from COVID-19 impacts[18] - Net profit for the current period was ¥3,071,918.28, a 127.44% increase from a loss of ¥11,193,399.82 in the previous period, reflecting a recovery in business operations[19] - The company's operating revenue for Q1 2021 was ¥63,149,785.40, an increase from ¥32,161,005.38 in the previous period, representing a growth of approximately 96.3%[44] - The net profit for Q1 2021 was ¥3,071,918.28, a significant recovery from a net loss of ¥11,193,399.82 in the same period last year[45] - The total comprehensive income for the period was ¥3,071,918.28, recovering from a loss of ¥11,193,399.82 in the previous year[46] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 1,292,891,533.66, up 1.23% from CNY 1,277,190,223.71 at the end of the previous year[9] - Current assets totaled CNY 316,087,421.60, up from CNY 290,983,773.53, indicating an increase of about 8.6%[35] - Total liabilities reached CNY 90,624,084.30, compared to CNY 77,994,692.63, showing an increase of approximately 16.2%[37] - The company's total equity as of March 31, 2021, was CNY 1,202,267,449.36, slightly up from CNY 1,199,195,531.08, reflecting a growth of about 0.2%[38] Cash Flow - Cash received from sales and services surged by 686.25% to ¥40,629,562.72, correlating with the substantial growth in revenue[20] - Cash flow from investment activities improved by 165.43%, primarily due to increased cash from the disposal of long-term assets[20] - The net increase in cash and cash equivalents was -¥25,090,736.22, an improvement of 42.81% compared to the previous period[20] - Operating cash inflow totaled ¥41,919,626.44, compared to ¥7,541,730.90 in the previous period, indicating a significant increase[52] - Operating cash outflow amounted to ¥75,155,239.32, up from ¥38,967,586.67 year-over-year, leading to a net cash flow from operating activities of -¥33,235,612.88[52] - Investment activities generated a net cash inflow of ¥8,144,876.66, contrasting with a net outflow of -¥12,447,921.08 in the previous period[56] - The total cash and cash equivalents at the end of the period were ¥206,329,956.84, down from ¥152,769,956.80 year-over-year[53] Operational Metrics - Operating costs increased by 104.29% to ¥42,022,849.41, driven by a significant rise in sales volume[18] - Total operating costs amounted to ¥56,546,350.82, up from ¥44,114,238.32, indicating an increase of about 28.2%[44] - The operating profit for the current period was ¥4,726,903.83, compared to a loss of ¥12,763,419.21 in the previous year, marking a turnaround[45] - The basic earnings per share for Q1 2021 was ¥0.0033, compared to a loss per share of ¥0.0120 in the previous year[46] Changes in Assets - Accounts receivable increased by 161.38% to CNY 47,387,831.13, primarily due to changes in sales collection policies[17] - Inventory rose by 69.98% to CNY 49,016,009.30, mainly due to increased reserves of bulk materials[17] - The company reported a significant increase in prepayments, which surged by 1429.73% to CNY 10,403,633.72, attributed to advance payments received from the sale of land and factory[17] - Deferred tax assets rose to CNY 3,684,440.36 from CNY 2,366,256.55, indicating an increase of approximately 55.7%[36] - The total non-current assets decreased slightly to CNY 976,804,112.06 from CNY 986,206,450.18, a decline of about 0.2%[36] Social Responsibility and Future Plans - The company signed a supplementary rental agreement to adjust rental terms for tenants affected by the pandemic, demonstrating its commitment to social responsibility[21] - The company aims to enhance market expansion strategies and explore potential mergers and acquisitions to drive future growth[45] - The company plans to continue focusing on research and development, with R&D expenses reported at ¥1,585,385.39, slightly up from ¥1,532,901.45[44] Other Information - The company received government subsidies amounting to CNY 269,292.69 during the reporting period[10] - The company recorded a significant loss of ¥518,974.99 from the disposal of fixed assets in the current period[18] - The company approved the sale of certain assets for ¥33,290,700, with the first payment of ¥9,982,100 received[22] - The company reported a credit impairment loss of ¥-2,143,873.44, worsening from ¥-1,077,528.96 in the previous period[48] - The first quarter report was not audited, indicating that the figures may be subject to change upon final review[58]

Financial Performance - In 2020, the company's operating revenue was approximately CNY 243.33 million, a decrease of 17.96% compared to 2019[18]. - The net profit attributable to shareholders was approximately CNY 9.75 million, down 65.15% from the previous year[18]. - The basic earnings per share decreased by 65.22% to CNY 0.0104[18]. - The total profit for the period was CNY 12.92 million, down 62.31% year-on-year, while the net profit attributable to shareholders was CNY 9.75 million, a decline of 65.15%[42]. - Total operating revenue for 2020 was ¥243,328,651.83, a decrease of 17.96% compared to ¥296,593,418.13 in 2019[58]. - The seasoning industry accounted for ¥233,690,366.48, representing 96.04% of total revenue, down 18.74% from ¥287,580,005.69 in 2019[58]. - The gross profit margin for the seasoning industry was 36.87%, down 8.92% from the previous year[61]. - Sales volume of seasoning products decreased by 7.31% to 18,570 tons in 2020, while production volume fell by 7.57% to 17,066 tons[63]. Cash Flow and Assets - The net cash flow from operating activities increased by 75.53% to approximately CNY 62.95 million[18]. - Cash and cash equivalents increased by 288.09% to ¥34,776,959.41, indicating improved liquidity[82]. - Total assets at the end of 2020 were approximately CNY 1.28 billion, an increase of 0.68% from the end of 2019[18]. - Fixed assets increased to ¥554,784,703.30, representing a 43.44% increase compared to ¥389,122,353.00 from the previous period[89]. - Accounts receivable rose by 263.57% compared to the beginning of the period, mainly due to delayed sales collections caused by the pandemic[33]. - The company has increased long-term deferred expenses by 563.81%, mainly due to new office building repairs and sewage pipeline projects[34]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.08 per 10 shares, based on a total of 935,625,600 shares[6]. - The company plans to distribute cash dividends of 0.08 yuan per 10 shares, totaling 7,485,004.80 yuan for the year 2020, which represents 76.78% of the net profit attributable to shareholders[126]. - The total distributable profit for 2020 is 18,605.02 million yuan, after accounting for a net profit of 19.73 million yuan and a legal reserve of 1.97 million yuan[128]. Market and Operational Challenges - The company reported a significant decline in net profit due to market conditions and operational challenges[6]. - The company faced challenges in supply chain logistics during the pandemic but managed to resume operations effectively through strategic planning[43]. - The company anticipates increased market concentration and competition due to rising industry standards and consumer safety awareness[101]. - The company faces risks from price fluctuations of raw materials, which could adversely affect market competitiveness and operating performance if not managed effectively[105]. - High customer concentration poses a risk, as the top five customers account for a significant portion of revenue, making the company vulnerable to changes in their purchasing behavior[107]. Research and Development - The company has established a quality management system recognized by CNAS, IQNET, and IAF, ensuring comprehensive quality control[35]. - The company has committed to increasing R&D investment to enhance technological capabilities and reduce production costs[116]. - The number of R&D personnel decreased by 53.97% to 29, reflecting a strategic shift in resource allocation[79]. - The company launched new product developments, including chicken broth and various sauces, to enhance market competitiveness[77]. Corporate Governance and Management - The company has established a robust internal control system to protect shareholder rights[159]. - The company has independent directors with expertise in finance, law, and technology, enhancing governance and oversight[196][197]. - The company’s board of directors is responsible for reviewing the remuneration plans for senior management, while the shareholders' meeting reviews the plans for directors and supervisors[200]. - The company has a structured approach to ensure the accuracy and fairness of remuneration distribution among its executives[200]. Quality Control and Compliance - The company has implemented various quality assurance procedures to improve product quality and ensure compliance with consumer rights[164]. - The company achieved ISO9001 and ISO22000 certifications, enhancing product quality and ensuring compliance with safety standards[164]. - The company has not faced any penalties for environmental violations and adheres strictly to environmental protection laws[165]. - The company emphasizes the importance of complying with national laws and regulations to minimize adverse impacts from policy changes[118].

Financial Performance - Operating revenue for the reporting period was CNY 69,343,520.67, an increase of 3.10% year-on-year, while revenue for the year-to-date period decreased by 31.53% to CNY 150,973,771.51[9] - Net profit attributable to shareholders for the reporting period was CNY 7,912,757.55, a significant increase of 45.95%, while the year-to-date net profit was a loss of CNY 4,605,270.85, down 119.27%[9] - Basic earnings per share for the reporting period were CNY 0.0085, up 46.55% compared to the same period last year[9] - The company's net profit for Q3 2020 was CNY 7,912,757.55, an increase of 46.0% compared to CNY 5,421,733.12 in the same period last year[38] - The company reported a total profit of CNY 9,493,807.48 for Q3 2020, an increase of 48.5% from CNY 6,408,846.91 in the same quarter last year[38] - Operating profit for the quarter was CNY 9,500,606.96, compared to CNY 6,399,938.03 in the previous year, marking a 48.8% increase[38] Cash Flow - The net cash flow from operating activities for the reporting period was CNY 23,446,033.35, an increase of 11.44% year-on-year, while the year-to-date cash flow was a negative CNY 9,185,146.31, down 122.29%[9] - Cash flow from operating activities decreased by 122.29% to -¥9,185,146.31, attributed to a 31.53% drop in operating revenue and a 55.79% decline in cash received from sales[19] - The net cash flow from operating activities was -9,185,146.31, compared to a positive cash flow of 41,204,267.46 in the previous period[55] - Total cash and cash equivalents at the end of the period decreased to 169,505,045.73 CNY from 219,908,594.56 CNY in the previous period, reflecting a net decrease of 25,937,218.29 CNY[59] - The total operating cash inflow decreased significantly from 245,891,342.42 CNY in the previous period to 113,011,340.45 CNY[58] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,262,982,313.90, a decrease of 0.44% compared to the end of the previous year[9] - The company’s total liabilities to total assets ratio indicates a stable financial position with liabilities constituting approximately 6.23% of total assets[64] - Total liabilities decreased to CNY 78,141,011.58 from CNY 79,122,534.06, a reduction of about 1.2%[32] - The company reported a total equity of CNY 1,184,841,302.32, down from CNY 1,189,446,573.17, indicating a decrease of approximately 0.5%[32] - The total liabilities to equity ratio indicates a conservative leverage position, suggesting financial stability[68] Shareholder Information - The total number of shareholders at the end of the reporting period was 54,163[13] - The top ten shareholders collectively held 40.28% of the company's total shares[14] Government Support - The company received government subsidies amounting to CNY 860,878.07 during the reporting period[10] Operational Changes - The company did not engage in any repurchase transactions during the reporting period[14] - The company has implemented new revenue and leasing standards starting from 2020, which may affect future financial reporting[60] - The company has not undergone an audit for the third quarter report[69] Expenses - Research and development expenses for the quarter were CNY 2,658,095.64, slightly down from CNY 2,985,912.89, showing a decrease of about 10.9%[37] - Sales expenses decreased by 43.55% to ¥16,772,226.23, resulting from marketing reforms and reduced costs in rent, travel, and office expenses[18]