Financial Performance - The company's operating revenue for the first half of 2020 was ¥81,630,250.84, a decrease of 46.72% compared to ¥153,222,508.14 in the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥12,518,028.40, representing a decline of 167.76% from a profit of ¥18,474,378.33 in the previous year[19]. - The total profit for the period was -14.11 million yuan, down 163.14% year-on-year[40]. - The net profit for the first half of 2020 was a loss of ¥12,518,028.40, compared to a profit of ¥18,474,378.33 in the first half of 2019, indicating a significant decline[148]. - The total comprehensive income for the first half of 2020 was -¥12,518,028.40, a stark contrast to ¥18,474,378.33 in the previous year[149]. - The company experienced a comprehensive loss of -12,518,028.40 during the first half of 2020, reflecting ongoing financial challenges[161]. Cash Flow - The net cash flow from operating activities was negative at ¥32,631,179.66, a decrease of 261.83% compared to ¥20,164,383.95 in the same period last year[19]. - The net cash flow from operating activities for the first half of 2020 was -32,631,179.66, a significant decrease compared to 20,164,383.95 in the same period of 2019, indicating a decline in operational performance[156]. - Total cash inflow from operating activities was 50,870,950.69, while cash outflow was 83,502,130.35, resulting in a net cash outflow of 32,631,179.66[156]. - The cash flow from investment activities showed a net outflow of -13,842,556.71, compared to -23,545,041.80 in the previous year, reflecting improved investment management[157]. - The cash and cash equivalents at the end of the period were 150,169,997.28, down from 196,643,733.65 at the beginning of the period, indicating a decrease in liquidity[157]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,244,937,020.73, down 1.86% from ¥1,268,569,107.23 at the end of the previous year[19]. - The total liabilities decreased from 79,122,534.06 to 68,008,475.96, a decline of approximately 13.98%[139]. - Current liabilities decreased from 43,731,371.26 to 33,903,225.08, a decline of about 22.5%[139]. - Cash and cash equivalents decreased to ¥150,169,997.28, representing 12.06% of total assets, down from 16.45% last year[51]. - Accounts receivable increased significantly from 4,986,607.34 to 39,157,006.67, an increase of approximately 684.5%[137]. Shareholder Information - The total number of shares is 935,625,600, with 221,690,697 shares (23.69%) under limited sale conditions and 713,934,903 shares (76.31%) under unrestricted sale conditions[114]. - The largest shareholder, Lin Pingtao, holds 17.15% of the shares, totaling 160,454,761 shares[117]. - The combined shareholding of the top five shareholders is 404,650,785 shares, representing 43.26% of the total share capital[118]. - The number of ordinary shareholders at the end of the reporting period is 56,499[117]. Operational Changes and Strategies - The company has implemented a sales model reform in 2020, which was affected by the pandemic, leading to a slowdown in sales performance[31]. - The company has focused on improving product formulas and accelerating the development of new products to meet household consumption needs[41]. - The company has optimized its dealer network to enhance sales capabilities and reduce inventory pressure[41]. - Increased investment in R&D is planned to enhance technology and reduce production costs, aiming to improve product competitiveness[79]. - The company will enhance its quality control systems to ensure product safety and compliance with market requirements, reducing the risk of quality-related disputes[80]. Risks and Challenges - The company faced significant impacts on its first-quarter performance due to the COVID-19 pandemic, although sales improved after resuming operations[69]. - The company is exposed to risks from fluctuations in raw material prices, which could adversely affect its market competitiveness and operating performance[70][71]. - High customer concentration risk exists, with the top five customers accounting for a significant portion of revenue, which could lead to revenue growth slowdowns if relationships change[73]. Regulatory and Compliance - The financial statements comply with the accounting standards set by the Ministry of Finance, reflecting the company's financial status accurately[190]. - The semi-annual financial report was not audited[87]. - The company did not have any significant related party transactions during the reporting period[94]. Miscellaneous - The company has maintained its ability to continue as a going concern for the next 12 months[188]. - The company has subsidiaries including Jialong Food Xiangjin Co., Ltd. and Guangzhou Jialong Food Co., Ltd.[186]. - The company has no significant equity investments or non-equity investments during the reporting period[56][64].

Financial Performance - The company's revenue for Q1 2020 was ¥32,161,005.38, a decrease of 59.87% compared to ¥80,133,205.58 in the same period last year[9] - The net profit attributable to shareholders was -¥11,193,399.82, representing a decline of 234.85% from ¥8,300,845.50 in the previous year[9] - Operating revenue decreased by 59.87% to ¥32,161,005.38 from ¥80,133,205.58 due to production delays and insufficient market demand caused by the COVID-19 pandemic[17] - Net profit turned negative at -¥11,193,399.82 compared to a profit of ¥8,300,845.50 in the previous period, reflecting a 234.85% decrease attributed to lower sales revenue and increased severance costs[18] - Basic and diluted earnings per share for Q1 2020 were both CNY -0.0120, compared to CNY 0.0089 in the same period last year[41] - Net profit for the current period is -¥8,791,849.19, compared to a net profit of ¥11,223,787.37 in the previous period[44] Cash Flow and Liquidity - The net cash flow from operating activities was -¥31,425,855.77, a significant drop of 1,675.39% compared to -¥1,770,079.93 in the same period last year[9] - Cash flow from operating activities showed a significant decline of 1675.39%, resulting in a net outflow of -¥31,425,855.77 compared to -¥1,770,079.93 in the previous period[18] - The company reported a cash flow net decrease of -¥43,873,776.85, a 231.89% decline compared to -¥13,219,454.69 in the previous period[18] - The net cash flow from investment activities was -10,134,846.56, indicating a significant outflow compared to the cash inflow of 11,374.00[51] - Cash and cash equivalents decreased to ¥152,769,956.80 from ¥196,643,733.65, reflecting a decline in liquidity[30] - The total cash and cash equivalents at the end of the period decreased to 152,456,475.89 from 195,442,264.02, reflecting a net decrease of 42,985,788.13[51] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,243,680,444.19, down 1.96% from ¥1,268,569,107.23 at the end of the previous year[9] - The total assets decreased to ¥1,243,680,444.19 from ¥1,268,569,107.23, indicating a reduction in overall asset value[30] - Current assets decreased to CNY 523,623,739.12 from CNY 546,363,884.14, a decline of 4.1%[36] - The total liabilities as of March 31, 2020, were CNY 37,347,502.08, down from CNY 48,332,880.36, a reduction of 22.8%[36] - The company's equity attributable to shareholders was CNY 1,203,075,999.52, slightly down from CNY 1,211,867,848.71[36] - The company’s total liabilities to equity ratio indicates a conservative leverage position, with total liabilities at 79,122,534.06 against total equity of 1,189,446,573.17[54] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 56,064[12] - The top ten shareholders collectively held 43.26% of the company's total shares[12] Operational Changes - Accounts receivable increased by 284.62% to ¥19,179,498.70 from ¥4,986,607.34 due to changes in sales collection policies[16] - Prepayments decreased by 60.72% to ¥8,172,421.92 from ¥20,803,146.81, primarily due to reduced advance payments for goods affected by the pandemic[16] - Research and development expenses decreased by 39.87% to ¥1,532,901.45 from ¥2,549,387.67, impacted by production delays due to the pandemic[18] - The company has not reported any significant new strategies, product developments, or market expansions during the reporting period[19] - The company has not reported any new product developments or market expansions in the current earnings call[42] Government Support - The company received government subsidies amounting to ¥269,292.69 during the reporting period[10] Credit Impairment - The company reported a credit impairment loss of CNY -1,077,528.96, compared to CNY -691,349.53 in the previous year[40] - The company reported a significant increase in credit impairment losses of -¥1,053,142.92, compared to -¥633,592.67 in the previous period[43] Future Considerations - The company is implementing new revenue and leasing standards starting in 2020, which may affect future financial reporting[52] - The company has not yet audited the first quarter report, indicating that the figures may be subject to change[57]

Financial Performance - The company's operating revenue for 2019 was ¥296,593,418.13, a decrease of 7.01% compared to ¥318,960,126.51 in 2018[19] - The net profit attributable to shareholders for 2019 was ¥27,977,931.19, down 20.50% from ¥35,193,969.81 in the previous year[19] - The net cash flow from operating activities decreased by 55.39% to ¥35,859,892.37, compared to ¥80,390,368.98 in 2018[19] - Basic earnings per share for 2019 were ¥0.0299, a decline of 20.48% from ¥0.0376 in 2018[19] - Total assets at the end of 2019 were ¥1,268,569,107.23, a decrease of 1.51% from ¥1,287,959,010.92 at the end of 2018[19] - The weighted average return on net assets for 2019 was 2.38%, down from 3.06% in 2018[19] - The company reported a total non-operating loss of -344,995.70 in 2019, a significant decrease from a profit of 3,342,750.52 in 2018[24] - The company received government subsidies amounting to 1,387,370.76 in 2019, a decrease from 4,197,692.98 in 2018[24] - The company’s total operating costs decreased by 22.02% to 139.41 million yuan, primarily due to a reduction in raw material costs[52] - The total cost of chicken powder decreased by 28.21% from 2018 to 2019, amounting to 70,035,262.36 CNY[53] - The total cost of chicken essence decreased by 12.12% from 2018 to 2019, totaling 36,644,638.48 CNY[53] - The total cost of other products decreased by 17.21% from 2018 to 2019, amounting to 32,728,537.26 CNY[53] Business Operations - The company has expanded its business scope to include food research and development, production and sales of various food products, and import-export business[18] - In 2019, the company's revenue from chicken powder and chicken essence accounted for 52.77% and 21.89% of total revenue, respectively[28] - The company has established a mixed sales model focusing on the catering industry, leveraging distributors and direct contracts with large chain restaurants[29] - The company successfully obtained export qualifications for chicken powder, chicken essence, and chicken juice, expanding into international markets[41] - The company optimized its sales team structure and reduced operating costs, improving operational efficiency[39] - The company aims to strengthen its market development capabilities and service abilities through an improved marketing structure and incentive mechanisms[35] Research and Development - Research and development expenses were 12,205,895.56 CNY in 2019, a slight decrease of 0.71% from 2018[58] - The number of R&D personnel increased by 8.62% to 63 in 2019, representing 14.00% of the total workforce[61] - The company will increase R&D investment to enhance technology and reduce production costs, aiming to develop customized products that meet customer needs[97] Risks and Challenges - The company faces risks from raw material price fluctuations, market competition, and new product development challenges[87][88][89] - The ongoing COVID-19 pandemic poses risks to the company's business and performance due to supply chain disruptions and decreased customer demand[94][95] - The company is subject to policy risks related to food safety and environmental regulations, which could impact operations and financial status[96] - The company has established a quality control system but remains vulnerable to potential food safety issues[91] Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the year[7] - The company has committed to distributing profits in cash not less than 30% of the average distributable profits achieved in the last three years[112] - The company’s cash dividend policy has been established to ensure transparency and protect the rights of minority shareholders[103] - The governance structure has been improved in accordance with relevant laws and regulations, ensuring transparency and protecting investor rights[198] - The company has implemented measures to ensure equal treatment of all shareholders during the shareholder meetings, including providing online voting options[199] - The company operates independently from its controlling shareholder in terms of business, personnel, assets, and finance, ensuring autonomous decision-making[199] Financial Reporting and Compliance - The company has implemented changes in accounting policies due to the new financial instrument standards effective from January 1, 2019[115] - The company has adjusted its financial statement formats in accordance with the new regulations, including splitting accounts receivable and payable into separate items[120] - The company has clarified the reporting of government subsidies in the cash flow statement, including all received subsidies[122] - The company has not reported any changes in the shareholding of its directors and senior management during the reporting period[182] - The company has not issued any non-standard audit reports for the reporting period[114] Employee Management - The company employed a total of 450 staff, including 144 production personnel and 123 sales personnel[191] - The company has a competitive and fair salary system, regularly adjusting employee salaries to enhance motivation and cohesion[193] - The company has established a training management system to improve employee capabilities and align with corporate culture[194]

Financial Performance - Operating revenue for the reporting period was ¥67,261,555.26, representing a year-on-year increase of 10.27%[9] - Net profit attributable to shareholders was ¥5,421,733.12, a decrease of 17.71% compared to the same period last year[9] - Basic earnings per share were ¥0.0058, down 17.14% from the previous year[9] - Total operating revenue for the current period reached ¥67,261,555.26, an increase of 10.5% compared to ¥60,997,858.54 in the previous period[40] - Net profit for the current period was ¥5,421,733.12, a decrease of 17.8% from ¥6,588,624.85 in the previous period[41] - Operating profit for the current period was ¥6,399,938.03, down 13.2% from ¥7,374,366.51 in the previous period[41] - Total profit for the current period was ¥6,408,846.91, a decrease of 12.3% from ¥7,307,049.33 in the previous period[41] - The company’s total comprehensive income for the current period was ¥6,948,616.74, slightly down from ¥6,997,918.45 in the previous period[45] - Net profit for the period was ¥23,896,111.45, down from ¥31,176,648.36, reflecting a decline of approximately 23.5%[48] - Operating profit decreased to ¥28,957,748.11 from ¥37,183,906.02, a drop of around 22.3%[48] - Basic and diluted earnings per share fell to ¥0.0255 from ¥0.0333, a decline of approximately 23.3%[49] - Total comprehensive income for the period was ¥23,896,111.45, down from ¥31,176,648.36, a decrease of approximately 23.5%[49] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,294,209,078.26, an increase of 0.49% compared to the end of the previous year[9] - Total assets increased to CNY 1,294,209,078.26, up from CNY 1,287,959,010.92 year-over-year[34] - Current liabilities decreased to CNY 73,136,265.34 from CNY 89,615,736.08, representing a reduction of approximately 18.4%[33] - Non-current assets totaled CNY 998,647,657.42, slightly up from CNY 991,105,104.75[34] - The total equity attributable to shareholders reached CNY 1,185,364,753.43, up from CNY 1,161,468,641.98, marking an increase of approximately 2.1%[34] - The company reported a decrease in accounts payable to CNY 21,005,325.92 from CNY 32,423,165.75, a decline of about 35.3%[33] - Deferred income decreased to CNY 35,708,059.49 from CNY 36,874,632.86, a reduction of approximately 3.2%[33] - The company’s retained earnings increased to CNY 145,954,617.02 from CNY 122,058,505.57, representing a growth of about 19.5%[34] Cash Flow - The net cash flow from operating activities was ¥21,039,883.51, an increase of 34.34% year-on-year[9] - Net cash flow from operating activities decreased by 9.52% to ¥41,204,267.46, attributed to a decline in cash received from sales and services[20] - Net cash flow from investing activities improved by 53.46% to -¥36,357,718.75, mainly due to reduced cash payments for fixed assets[20] - The company’s cash and cash equivalents increased by 111.56% to ¥4,846,548.71 compared to the previous year[20] - Operating cash inflow for Q3 2019 was CNY 246,720,768.54, a decrease of 11.5% from CNY 279,068,243.23 in Q3 2018[56] - The net cash flow from operating activities was CNY 41,204,267.46, down from CNY 45,542,025.50 in Q3 2018, reflecting a decrease of 7.4%[56] - Cash and cash equivalents at the end of Q3 2019 totaled CNY 219,979,811.35, up from CNY 188,182,416.25 at the end of Q3 2018, representing a 16.9% increase[57] - Total cash inflow from investment activities was CNY 679,044.85, significantly lower than CNY 146,194,149.60 in the previous year, marking a decline of 99.5%[57] Shareholder Information - The total number of shareholders at the end of the reporting period was 58,654[13] - The top ten shareholders collectively held 43.26% of the company's total shares[14] - No repurchase transactions were conducted by the top ten shareholders during the reporting period[14] Government Subsidies and Other Income - The company received government subsidies totaling ¥902,028.07 during the reporting period[10] - Other income increased to ¥267,342.69 from ¥93,394.18 in the previous period[40] - Other income increased to ¥902,028.07 from ¥798,294.18, marking a growth of about 13.0%[47] Accounting Changes - The company reported a 100.00% adjustment in credit impairment losses due to a change in accounting standards, moving to an expected loss model[19] - The company adopted new financial instrument standards effective January 1, 2019, impacting the classification of financial assets[68] - The new standards require a shift from "incurred loss model" to "expected credit loss model" for measuring financial asset impairment[75] - The accounting policy changes due to the new financial instrument standards did not have a significant impact on the company's financial assets[76]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 153,222,508.14, a decrease of 10.90% compared to CNY 171,967,701.89 in the same period last year[19]. - The net profit attributable to shareholders was CNY 18,474,378.33, down 24.86% from CNY 24,588,023.51 year-on-year[19]. - The net cash flow from operating activities was CNY 20,164,383.95, representing a decline of 32.52% compared to CNY 29,880,747.75 in the previous year[19]. - The basic earnings per share decreased by 25.10% to CNY 0.0197 from CNY 0.0263 in the same period last year[19]. - The total profit for the period was 22.35 million RMB, down 23.17% year-on-year[40]. - The company's revenue for the reporting period was ¥153,222,508.14, a decrease of 10.90% compared to ¥171,967,701.89 in the same period last year[45]. - Operating costs decreased by 11.08% to ¥84,014,041.34 from ¥94,482,995.89 year-on-year[45]. - The company reported a comprehensive income of 18,474,378.33 yuan for the current period, contributing positively to the equity[169]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,290,871,673.67, a slight increase of 0.23% from CNY 1,287,959,010.92 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 1.59% to CNY 1,179,943,020.31 from CNY 1,161,468,641.98 at the end of the previous year[19]. - Total liabilities decreased to RMB 110,928,653.36 from RMB 126,490,368.94, showing a reduction of approximately 12.3%[141]. - The total equity increased to ¥1,195,191,914.96 from ¥1,170,264,605.38 at the end of 2018, reflecting a growth of 2.1%[146]. Investments and Cash Flow - The company received government subsidies amounting to CNY 634,685.38 during the reporting period[24]. - Net cash flow from investing activities increased by 88.61%, improving to -¥23,545,041.80 from -¥206,634,731.14 year-on-year[45]. - The company reported a total cash inflow from investment activities of 679,044.85 yuan, while cash outflow was 1,432,672.12 yuan, leading to a significant net outflow[160]. Research and Development - The company has established a quality management system recognized by CNAS, IQNET, and IAF, ensuring comprehensive quality control[34]. - The company plans to enhance R&D investment and improve technology to reduce production costs and develop products that meet customer needs, aiming to increase market share[81]. - The company reported research and development expenses of ¥6,216,041.76 for the first half of 2019, slightly up from ¥6,210,328.77 in the same period last year[149]. Market Position and Competition - The company is a leading player in the domestic chicken powder and essence industry, with a well-established R&D system and strong innovation capabilities[75]. - The company faces market competition risks due to the low industry concentration and potential entry of new competitors attracted by the large consumer market and high profitability[75]. Governance and Compliance - The company has not engaged in any significant related party transactions during the reporting period[95]. - The financial report for the first half of 2019 was not audited[136]. - The company has maintained its compliance with accounting standards, ensuring the financial statements reflect a true and fair view of its financial position[188]. Shareholder Information - The total number of shares outstanding is 935,625,600, with 221,690,697 shares (23.69%) subject to trading restrictions and 713,934,903 shares (76.31%) freely tradable[120]. - The largest shareholder, Lin Pingtao, holds 17.15% of the shares, amounting to 160,454,761 shares, with no changes during the reporting period[123]. - The company has committed to distributing profits in cash amounting to no less than 30% of the average annual distributable profits over the last three years[88]. Risk Factors - The company faces various risks and uncertainties that may impact future performance, as detailed in the report[6]. - The company faces risks related to fluctuations in raw material prices, which could adversely affect market competitiveness and operational performance[74]. - The company has implemented a quality control system, but risks remain due to various factors affecting food safety throughout the supply chain[78].

Financial Performance - The company's revenue for Q1 2019 was ¥80,133,205.58, a decrease of 7.46% compared to ¥86,589,335.18 in the same period last year[9] - Net profit attributable to shareholders was ¥8,300,845.50, down 26.15% from ¥11,239,426.01 year-on-year[9] - Basic earnings per share decreased by 25.83% to ¥0.0089 from ¥0.012 in the same period last year[9] - The company's total revenue for the period was 80,109,113.90, while the previous period's revenue was 86,589,335.18, showing a decrease of approximately 7.0%[46] - The company's operating profit for Q1 2019 was 10,214,886.44, a decrease from 12,550,972.23 in the previous period, representing a decline of approximately 18.6%[43] - The total profit for the period was 10,047,315.10, down from 13,125,342.23, indicating a decrease of about 23.5%[43] - The net profit for Q1 2019 was 8,300,845.50, compared to 11,239,426.01 in the previous year, reflecting a decline of approximately 26.0%[43] - The total comprehensive income for Q1 2019 was 8,300,845.50, down from 11,239,426.01, indicating a decline of approximately 26.0%[44] Cash Flow - The net cash flow from operating activities was negative at -¥1,770,079.93, a decline of 106.94% compared to ¥25,487,489.47 in the previous year[9] - Cash flow from operating activities decreased by 90.67% to -¥13,219,454.69, primarily due to a significant drop in cash inflows[20] - Operating cash inflow totaled ¥69,644,999.64, down from ¥87,506,843.99 in the previous period, representing a decrease of approximately 20.4%[51] - Operating cash outflow amounted to ¥71,415,079.57, compared to ¥62,019,354.52 previously, indicating an increase of about 15.5%[51] - The company reported a net cash flow from operating activities of ¥-13,346,303.99, contrasting with a positive cash flow of ¥10,398,872.30 in the prior period[55] - Total cash and cash equivalents decreased by ¥13,219,454.69 during the period, compared to a decrease of ¥6,933,327.14 in the previous period[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,275,931,410.65, a decrease of 0.93% from ¥1,287,959,010.92 at the end of the previous year[9] - The total assets decreased to ¥1,275,931,410.65 from ¥1,287,959,010.92, indicating a slight decline in overall asset value[32] - Total liabilities decreased to CNY 55,883,807.01 from CNY 75,280,535.20, a reduction of 25.7%[38] - The company's equity increased to CNY 1,181,488,392.75 from CNY 1,170,264,605.38, reflecting a growth of 1.0%[40] - The total owner's equity as of January 1, 2019, was ¥1,170,264,605.38, reflecting a stable financial position[65] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 69,691[12] - The top five shareholders collectively held 46.01% of the company's total shares[13] Operational Metrics - Accounts receivable increased by 124.39% to ¥11,319,200.05, primarily due to changes in sales collection policies[17] - Prepayments decreased by 38.71% to ¥11,573,291.85, mainly due to the delivery of previously prepaid materials[17] - Other receivables rose by 179.38% to ¥4,140,008.39, attributed to increased advances to various offices[17] - Research and development expenses for Q1 2019 were CNY 2,549,387.67, slightly down from CNY 2,591,937.88 in the previous period[41] Financial Standards and Reporting - The first quarter report for 2019 was not audited, indicating preliminary financial results[68] - The implementation of the new financial instrument standards did not have a significant impact on the company's accounting policies[62] - The company has adopted the expected credit loss model for measuring financial asset impairment, replacing the incurred loss model[67]

Financial Performance - The company's operating revenue for 2018 was CNY 318,960,126.51, representing an increase of 11.12% compared to CNY 287,030,495.05 in 2017[19] - The net profit attributable to shareholders for 2018 was CNY 35,193,969.81, a significant increase of 64.35% from CNY 21,414,430.62 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 31,851,219.29, up 45.10% from CNY 21,950,988.18 in 2017[19] - The net cash flow from operating activities for 2018 was CNY 80,390,368.98, an increase of 7.71% compared to CNY 74,633,631.50 in 2017[19] - The basic earnings per share for 2018 was CNY 0.0376, reflecting a growth of 64.19% from CNY 0.0229 in 2017[19] - Total assets at the end of 2018 amounted to CNY 1,287,959,010.92, a 5.15% increase from CNY 1,224,825,807.55 at the end of 2017[19] - The net assets attributable to shareholders at the end of 2018 were CNY 1,161,468,641.98, which is a 2.28% increase from CNY 1,135,630,928.17 in 2017[19] - The company reported a total non-operating income of 3,342,750.52, a significant recovery from a loss of 536,557.56 in the previous year[25] - The company achieved a total revenue of CNY 318.96 million in 2018, representing a year-on-year growth of 11.12%[39] - The net profit attributable to shareholders was CNY 35.19 million, reflecting a significant increase of 64.35% compared to the previous year[39] Product and Market Development - The main products, chicken powder and chicken essence, contributed 53.07% and 20.46% to the total revenue, respectively[27] - The company’s revenue from the seasoning industry amounted to CNY 310.39 million, accounting for 97.31% of total revenue, with a year-on-year growth of 8.14%[45] - The chicken powder product line generated CNY 169.27 million in revenue, which is 53.07% of total revenue, with a growth of 4.58%[45] - The company is focusing on new product development, including mushroom sauce and chicken essence powder, to enhance product competitiveness[56] - The company aims to shift towards high-end, customized, healthy, and functional products in response to changing consumer demands[80] - The company will focus on developing health-oriented seasoning products to align with rising health awareness among consumers[80] Research and Development - The company holds 39 active patents, including 6 invention patents, 10 utility model patents, and 23 design patents, reflecting its commitment to innovation[33] - The company has established a technology research and development center to enhance its product development capabilities and maintain competitiveness[33] - The company is actively developing new products and technologies, with several patents accepted by the National Intellectual Property Administration[41] - The company plans to increase R&D investment to enhance its technological capabilities and product competitiveness[89] - Research and development expenses decreased by 9.72% to ¥12,293,508.22, representing 3.85% of operating revenue[59] - The number of R&D personnel decreased by 7.94% to 58, with R&D personnel accounting for 11.20% of the total workforce[59] Operational Efficiency and Costs - The company experienced a 10.78% decrease in intangible assets, primarily due to amortization and the conversion of some land use rights to investment properties[31] - The inventory increased by 33.19%, attributed to a rise in unfinished sales orders and a strategy to control procurement costs[31] - The total operating costs decreased by 1.76% to ¥178,781,628.32, with raw materials accounting for 87.16% of the total[51] - The company has completed the construction of the first phase of its production base in Shandong, with ongoing installation and commissioning of production equipment[42] - The company has implemented an intelligent production line for chicken essence and powder, recognized as a pilot demonstration project in Guangdong Province[39] Risk Management and Governance - The company has outlined potential risks and operational plans for 2019 in the report, emphasizing the importance of market conditions[6] - The company faces risks from raw material price fluctuations, market competition, and new product development challenges[83][84][85] - The company has established a robust quality control system to mitigate risks associated with food safety and product quality[87][90] - The company plans to strengthen its internal governance and improve management processes to enhance risk management capabilities[83] - The company has established a three-year shareholder return plan (2018-2020) to enhance transparency and operational feasibility in profit distribution[95] Shareholder and Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[7] - In 2018, the company did not distribute cash dividends, with a total cash dividend amount of 0.00, representing 0.00% of the net profit attributable to ordinary shareholders[102] - The company plans to invest significantly in market promotion, brand building, and new business expansion in 2019, which influenced the decision not to distribute cash dividends in 2018[100] - The cash dividend distribution for 2017 was 9,356,256.00, which accounted for 43.69% of the net profit attributable to ordinary shareholders[102] - The company actively considered the opinions of minority shareholders in its profit distribution decisions, ensuring their rights were protected[96] Corporate Governance and Compliance - The company has complied with all legal and regulatory requirements regarding its cash dividend policy and distribution procedures[97] - The company’s independent directors provided independent opinions on the profit distribution plan, ensuring due diligence was performed[96] - The company has maintained its accounting firm, Lixin Certified Public Accountants, for 12 years, with an audit fee of ¥850,000 for the current period[115] - The company has a robust internal control system and governance structure, ensuring compliance with relevant laws and regulations[184] - The actual governance situation of the company does not differ significantly from the regulatory requirements set by the China Securities Regulatory Commission[190] Employee and Management Structure - The total number of employees in the company is 518, with 506 in the parent company and 12 in major subsidiaries[177] - The company has a competitive and fair compensation system, with a total remuneration of 349.37 million yuan for directors and senior management during the reporting period[176] - The employee composition includes 188 production personnel, 210 sales personnel, 58 technical personnel, 22 financial personnel, and 40 administrative personnel[178] - The company has a structured performance evaluation system that influences promotions, training, and salary adjustments[179] - The company has a stable management team with extensive experience in the food industry, including positions held in various related companies[173][165]

Financial Performance - Net profit attributable to shareholders was ¥6,588,624.85, representing a significant increase of 69.97% year-on-year[8]. - Operating income for the period was ¥60,997,858.54, a decrease of 6.86% compared to the same period last year[8]. - The net cash flow from operating activities was ¥15,661,277.75, a remarkable increase of 618.13% year-on-year[8]. - Basic earnings per share were ¥0.0070, up 70.73% compared to the same period last year[8]. - The weighted average return on net assets was 0.57%, an increase of 0.36 percentage points compared to the previous year[8]. - Net profit for the current period was ¥31,176,648.36, a 42.31% increase compared to ¥21,907,923.93 in the previous period[18]. - The company expects a net profit increase of 45.00% to 90.00% for 2018, estimating between ¥3,105.09 million and ¥4,068.74 million[23]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,252,472,860.11, an increase of 2.26% compared to the end of the previous year[8]. - Prepayments increased by 217.12% to ¥12,295,264.59 due to materials paid in advance that had not yet arrived[16]. - Other receivables rose by 81.10% to ¥2,269,160.36, primarily due to increased market expansion efforts[16]. - Investment properties reached ¥140,029,146.72, marking a 100.00% increase from the previous period as some self-used properties were converted[16]. - Deferred tax assets decreased by 47.30% to ¥1,104,865.59, attributed to a reduction in deductible temporary differences[16]. - Other non-current assets increased by 501.21% to ¥16,281,970.00 due to the purchase of certain product patents[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 60,280[12]. - The top ten shareholders collectively held 46.01% of the company's total shares[13]. - The company did not engage in any repurchase transactions during the reporting period[13]. Government Subsidies - The company received government subsidies amounting to ¥827,794.18 during the reporting period[9]. - The company received government subsidies related to daily activities, resulting in other income of ¥798,294.18[17]. Investments and Construction - Cash flow from investing activities showed a net outflow of ¥78,126,426.99, a 105.80% increase due to investments in patents and construction projects[19]. - The company has completed the construction of public rental housing and office buildings at the Shandong production base, with ongoing work on production lines and related facilities[20].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 171,967,701.89, representing an increase of 18.76% compared to CNY 144,798,778.96 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 24,588,023.51, a growth of 36.36% from CNY 18,031,543.92 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was CNY 24,434,670.14, which is an increase of 43.10% compared to CNY 17,075,789.66 in the previous year[19]. - The basic earnings per share for the period was CNY 0.0263, up 36.27% from CNY 0.0193 in the same period last year[19]. - The total profit reached 2,908.71 million CNY, reflecting a growth of 38.98% year-on-year[39]. - Net profit attributable to shareholders was 2,458.80 million CNY, up 36.36% from the previous year[39]. - The net profit attributable to shareholders for the first three quarters of 2018 is expected to range from 27.38 million to 35.05 million CNY, representing a year-on-year increase of 25.00% to 60.00%[71]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,237,059,799.27, reflecting a 1.00% increase from CNY 1,224,825,807.55 at the end of the previous year[19]. - The total liabilities of the company were RMB 86,197,103.59, a decrease from RMB 89,194,879.38, representing a reduction of approximately 3.34%[138]. - The company's current assets totaled RMB 248,970,921.31, down from RMB 278,760,343.33 at the beginning of the period, indicating a decrease of approximately 10.67%[137]. - The company's accounts receivable increased to RMB 9,208,181.70 from RMB 8,642,018.43, reflecting an increase of approximately 6.54%[136]. - The total equity attributable to the owners of the parent company is CNY 1,151,461,979.14, up from CNY 1,136,150,918.00, reflecting an increase of 1.34%[142]. Cash Flow - The net cash flow from operating activities was CNY 29,880,747.75, a decrease of 27.71% compared to CNY 41,336,906.87 in the same period last year[19]. - Cash flow from operating activities decreased by 27.71% to 29,880,747.75 CNY, primarily due to increased prepayments for raw materials[44]. - The net cash flow from operating activities was -12,725,604.67 yuan, compared to 2,697,831.20 yuan in the previous period, indicating a significant decline[156]. - The total cash and cash equivalents at the end of the period decreased to 42,613,387.83 yuan from 226,354,962.17 yuan at the beginning of the period[156]. Investments and Expenditures - The company invested ¥43,853,645.47 in the Shandong production base project, which is 68.89% complete[60]. - The company reported a significant increase in capital expenditures, with 16,659,828.67 yuan spent on acquiring fixed assets[156]. - The company received government subsidies amounting to CNY 704,900.00 during the reporting period[24]. Market and Sales - The company's main products, chicken powder and chicken essence, accounted for 51.51% and 20.62% of total revenue, respectively[27]. - The Central China region generated 36.29% of total revenue, showing a year-on-year growth of 19.55%[48]. - The company implemented a marketing reform that contributed to a steady increase in sales volume, particularly in the seasoning product sector[44]. - The gross profit margin improved due to the cancellation of product bundling policies, which reduced operating costs by 12.21%[44]. Research and Development - Research and development investment increased by 11.15% to 6,210,328.77 CNY, driven by accelerated new product development[44]. - The company has 36 active patents, including 6 invention patents, 7 utility model patents, and 23 design patents as of June 30, 2018[33]. Corporate Governance and Compliance - The company has not engaged in any major litigation or arbitration matters during the reporting period[90]. - The company has not conducted any asset or equity acquisitions or sales during the reporting period[97]. - The half-year financial report has not been audited[88]. - The financial statements have been prepared in accordance with the relevant accounting standards, ensuring a true and fair view of the company's financial position[177]. Shareholder Information - The total number of shares outstanding is 935,625,600, with 27.10% being restricted shares and 72.90% being unrestricted shares[117]. - The largest shareholder, Lin Pingtao, holds 17.15% of the shares, amounting to 160,454,761 shares[121]. - The top five shareholders collectively hold 46.01% of the company's total shares, indicating significant control[121]. Risk Management - The company faces risks related to raw material price fluctuations, market competition, new product development, quality control, increased fixed asset depreciation, and policy changes[72][74][75][76][77][79]. - To mitigate these risks, the company plans to enhance raw material price tracking, increase R&D investment, improve quality control systems, and stay updated on regulatory changes[80][81].

Financial Performance - The company's operating revenue for 2017 was ¥287,030,495.05, a decrease of 3.76% compared to ¥298,240,476.45 in 2016[18]. - The net profit attributable to shareholders for 2017 was ¥21,414,430.62, down 33.66% from ¥32,279,157.12 in 2016[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥21,950,988.18, a decrease of 24.12% from ¥28,928,464.69 in 2016[18]. - The total profit for the period was 24.53 million yuan, down 34.94% year-on-year[43]. - The basic earnings per share for 2017 were ¥0.0229, a decline of 33.62% from ¥0.0345 in 2016[18]. - The weighted average return on equity for 2017 was 1.90%, down from 2.93% in 2016[18]. - The company reported a continuous operating net profit of 21,414,430.62 CNY for 2017, compared to 32,279,157.12 CNY in 2016[111]. Cash Flow and Assets - The net cash flow from operating activities increased by 23.64% to ¥74,633,631.50 in 2017, compared to ¥60,365,150.54 in 2016[18]. - The cash and cash equivalents increased by 126.04% to ¥9,807,309.07, reflecting the overall positive cash flow situation[70]. - The total assets at the end of 2017 were ¥1,224,825,807.55, reflecting a 4.33% increase from ¥1,173,963,000.67 at the end of 2016[18]. - The net assets attributable to shareholders at the end of 2017 were ¥1,135,630,928.17, up 1.92% from ¥1,114,216,497.55 at the end of 2016[18]. - The total procurement amount from the top five suppliers was ¥65,736,801.62, accounting for 42.89% of the annual total procurement[60]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of ¥0.10 per 10 shares, based on a total of 935,625,600 shares[6]. - The company declared a cash dividend of 0.10 CNY per 10 shares, totaling 9,356,256 CNY for the reporting period, which represents 100% of the distributable profit[104]. - In 2017, the net profit attributable to ordinary shareholders was 21,414,430.62 CNY, with a cash dividend payout ratio of 43.69%[106]. - The total number of ordinary shareholders increased from 64,572 to 67,127 during the reporting period[150]. - The company’s total shares outstanding remained at 935,625,600, with a decrease of 15,941,225 shares in limited sale condition shares[147]. Business Operations and Market Strategy - The company expanded its business scope to include domestic trade and import/export of goods and technology as of November 23, 2017[17]. - The company aims to expand its market presence by leveraging its established distribution channels and enhancing product offerings[34]. - The company launched 6 new products in the Fuwei series and 3 in the Gangchu series to enhance market presence[45]. - The company is investing in a new production base in Shandong to improve service capabilities in North, Northwest, and Northeast China[45]. - The company focuses on R&D and has developed a range of products including chicken powder, chicken essence, and various sauces, which are marketed primarily to the food service and manufacturing sectors[27]. Research and Development - Research and development investment amounted to ¥13,616,443.68, representing 4.74% of operating revenue, a slight increase of 0.84% from the previous year[65][67]. - The company has established a comprehensive R&D system and possesses strong independent R&D capabilities, enabling continuous development of new products to meet industry trends and consumer preferences[90]. - Increased investment in R&D and technology is aimed at improving production processes and reducing costs, while also developing customized products to enhance market competitiveness[96]. Quality Control and Risk Management - The company has implemented strict quality control measures in its procurement process to minimize the risk of quality issues with raw materials[31]. - The company has implemented a strict quality control system, but potential risks remain due to various factors affecting food safety throughout the supply chain[92]. - The company faces risks related to fluctuations in raw material prices, which could impact market competitiveness and operational performance if not managed effectively[88]. - The company plans to enhance raw material price tracking and adjust procurement strategies to mitigate risks associated with price fluctuations[95]. Governance and Compliance - The company has a diverse board with members having backgrounds in food engineering, law, and finance, enhancing its governance structure[162][164]. - The company is committed to transparency in its governance, as evidenced by detailed disclosures of shareholdings and board member backgrounds[161]. - The company has implemented a robust internal control system to enhance governance and risk prevention capabilities[177]. - The company maintained compliance with legal regulations and internal policies throughout the reporting period[199]. Employee Information and Management - The total number of employees in the company is 490, with 473 in the parent company and 17 in major subsidiaries[171]. - The employee composition includes 175 production personnel, 180 sales personnel, 63 technical personnel, 24 financial personnel, and 48 administrative personnel[171]. - The company has implemented a training program focused on improving employee skills and knowledge to enhance overall performance[174]. - The total pre-tax remuneration for directors and senior management is 323.71 million yuan, with the highest being 57.60 million yuan for the vice president[170]. Audit and Financial Reporting - The company appointed Lixin Accounting Firm as its auditor, with an audit fee of 700,000 RMB, and has maintained this auditor for 11 years[118]. - The audit committee held 6 meetings during the reporting period, reviewing key financial reports and internal audit findings[195]. - The internal control evaluation report indicates no significant deficiencies were found during the reporting period[200]. - The report emphasizes the need for timely rectification of identified deficiencies to avoid administrative penalties from regulatory bodies[200].