Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,421,840,892.58, representing a 5.58% increase compared to CNY 1,346,737,417.09 in the same period last year[12]. - The net profit attributable to shareholders for the first half of 2022 was CNY 516,276,518.63, a significant increase of 37.24% from CNY 376,173,763.47 in the previous year[12]. - The net profit after deducting non-recurring gains and losses was CNY 478,906,574.21, which is a 28.38% increase compared to CNY 373,046,945.66 in the same period last year[12]. - The net cash flow from operating activities reached CNY 538,982,914.17, showing a remarkable growth of 109.32% from CNY 257,490,980.14 in the previous year[12]. - The basic earnings per share for the first half of 2022 was CNY 0.58, up 23.40% from CNY 0.47 in the same period last year[12]. - The company's gross profit margin improved, with operating profit rising by 36.06% to CNY 606,601,444.40, attributed to increased revenue and reduced sales expenses[41]. - The company reported a significant increase in other business income, which reached CNY 2,363,754.54, up 112.21% from CNY 1,113,884.99 in the previous year[43]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,123,666,773.59, reflecting a 4.84% increase from CNY 7,748,704,934.69 at the end of the previous year[12]. - The total liabilities as of June 30, 2022, amounted to CNY 751,009,882.00, compared to CNY 581,654,054.03 at the beginning of the year, indicating an increase of about 29.2%[121]. - The total current assets reached CNY 6,310,063,901.25, an increase from CNY 5,894,286,087.93, reflecting a growth of approximately 7.1%[117]. - The company's total equity as of June 30, 2022, was CNY 7,372,656,891.59, compared to CNY 7,167,050,880.66 at the start of the year, reflecting an increase of approximately 2.87%[120]. Revenue Sources - The company's main business revenue for the first half of 2022 reached CNY 1,419,477,138.04, with a gross profit margin of 55.03%[26]. - Sales of pickled vegetables generated CNY 1,196,280,312.05 in revenue, with a gross profit margin of 58.02%[24]. - The revenue from radish products was CNY 52,333,911.45, with a gross profit margin of 41.56%[24]. - The revenue from pickled vegetables was CNY 1,236,415,526.55, representing 86.96% of total revenue, with a year-on-year growth of 2.99%[43]. Market and Competition - The industry is characterized by intense competition, with a trend towards scale, branding, and quality improvement due to increasing consumer demands for food safety[20]. - The company implemented a dual expansion strategy focusing on product diversification and market penetration, leading to stable performance despite external pressures[22]. - The sales model primarily relies on a distribution system supplemented by e-commerce platforms, ensuring a broad market reach[26]. Production and Operations - The production process is mechanized and automated, with ongoing exploration of intelligent production models to enhance efficiency and ensure food safety[21]. - The production volume of pickled vegetables was 6.59 million tons in the first half of 2022, a decrease of 9.97% compared to 7.32 million tons in the same period of 2021[33]. - The company is expanding its production capacity with a new green intelligent production base expected to have a capacity of 20 million tons annually[34]. Environmental and Social Responsibility - The company has established wastewater treatment facilities at all production sites, ensuring compliance with environmental standards[76]. - The company has implemented emergency response plans for environmental incidents and conducts regular drills[77]. - The company has actively engaged in poverty alleviation and provided technical guidance to farmers, ensuring a minimum purchase price for their produce[84]. Shareholder Information - The company has a total share capital of 887,630,022 shares as of the last trading day before disclosure[13]. - The total number of ordinary shareholders at the end of the reporting period was 55,770, with a significant shareholder, Chongqing Fuling State-owned Assets Investment Group Co., Ltd., holding 35.26% of shares, equating to 312,998,400 shares[108]. - The company has not made any changes to the use of raised funds during the reporting period[66]. Risk Management - The company faces risks related to raw material shortages and price fluctuations, particularly for its main ingredient, Qingcaitou, which could impact operational performance[71]. - The company plans to enhance its raw material storage capacity and innovate procurement models to mitigate risks associated with raw material price volatility[71]. Research and Development - Research and development investment surged by 68.10% to CNY 11,174,754.52, primarily due to increased spending on the "Wujiangs Fuling Pickled Vegetable Green Intelligent Production Base" project[41]. - The company has established a national pickled vegetable processing technology research center and has collaborated with several universities and research institutions, enhancing its R&D capabilities[37]. Financial Management - The company reported a total of 473 million CNY in entrusted financial management, with 368 million CNY remaining unexpired[98]. - The company has no overdue amounts or impairment provisions for entrusted financial management products[99]. - The company has not reported any high-risk entrusted financial management situations during the reporting period[98].

Financial Performance - The company's operating revenue for Q1 2022 was ¥688,547,425.28, a decrease of 2.88% compared to ¥708,977,187.75 in the same period last year[5] - Net profit attributable to shareholders was ¥214,189,091.66, an increase of 5.39% from ¥203,231,279.23 year-on-year[5] - Total operating revenue for Q1 2022 was CNY 688,547,425.28, a decrease of 2.03% from CNY 708,977,187.75 in the same period last year[16] - Net profit for Q1 2022 reached CNY 214,189,091.66, an increase of 5.03% compared to CNY 203,231,279.23 in Q1 2021[17] - The basic earnings per share for Q1 2022 was CNY 0.24, a slight decrease from CNY 0.26 in the same period last year[17] - The diluted earnings per share for Q1 2022 was 0.24, a decrease from 0.26 in the previous period[19] Cash Flow and Liquidity - The net cash flow from operating activities reached ¥112,077,466.59, a significant increase of 535.74% compared to -¥25,721,050.91 in the previous year[5] - Cash inflow from operating activities totaled CNY 788,347,155.53, compared to CNY 747,164,574.11 in the prior period, representing an increase of approximately 5.4%[19] - The net cash flow from operating activities was CNY 112,077,466.59, a significant improvement from a negative CNY 25,721,050.91 in the previous period[19] - The cash and cash equivalents at the end of the period were CNY 422,307,811.28, up from CNY 232,155,650.90 in the previous period[20] - The company experienced a net decrease in cash and cash equivalents of CNY 227,662,337.30 for the quarter[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥8,131,377,281.23, reflecting a growth of 4.94% from ¥7,748,704,934.69 at the end of the previous year[5] - Current assets totaled CNY 6,297,524,328.34, up from CNY 5,894,286,087.93, indicating an increase of about 6.87%[13] - Total liabilities reached CNY 3,123,000,000, reflecting a rise from the previous period, with accounts payable increasing to CNY 242,402,735.63 from CNY 154,258,633.68, a growth of about 57.06%[13] - The company reported a significant increase in other current assets, which rose to CNY 2,721,599,874.96 from CNY 2,391,021,263.41, an increase of approximately 13.79%[13] - The company's total liabilities increased to CNY 750,137,308.91 from CNY 581,654,054.03 at the beginning of the year, indicating a rise in financial obligations[15] - The total equity attributable to shareholders of the parent company rose to CNY 7,381,239,972.32 from CNY 7,167,050,880.66, showing a growth in shareholder value[15] Inventory and Receivables - The company reported a significant increase in accounts receivable by 1,803.15% to ¥54,534,492.38, attributed to increased credit limits offered to customers[8] - Inventory increased by 53.16% to ¥614,635,317.88, primarily due to higher raw materials and finished goods[8] - Accounts receivable rose significantly to CNY 54,534,492.38 from CNY 2,865,481.72, marking an increase of over 1800%[12] - Inventory increased to CNY 614,635,317.88 from CNY 401,297,027.57, representing a growth of approximately 53.06%[12] Research and Development - Research and development expenses decreased by 63.02% to ¥860,615.85 compared to ¥2,326,972.81 in the previous year[9] - Research and development expenses for Q1 2022 were CNY 860,615.85, significantly lower than CNY 2,326,972.81 in the previous year, indicating a potential shift in investment focus[16] Shareholder Information - The company had a total of 57,001 common shareholders at the end of the reporting period[10] Financial Management - The company reported a financial income of CNY 25,686,145.36, up from CNY 13,884,344.85, reflecting improved financial management[16] - The company’s cash flow management appears to be improving, as indicated by a decrease in financial expenses from CNY -13,908,570.51 to CNY -25,591,792.93[16] Audit Information - The company did not conduct an audit for the Q1 2022 report[21]

Financial Performance - The company's operating revenue for 2021 was ¥2,518,647,389.14, an increase of 10.82% compared to ¥2,272,746,598.51 in 2020[13]. - The net profit attributable to shareholders for 2021 was ¥741,958,457.29, a decrease of 4.52% from ¥777,105,782.58 in 2020[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥694,323,995.59, down 8.49% from ¥758,766,769.73 in 2020[13]. - The net cash flow from operating activities for 2021 was ¥745,482,455.96, a decline of 20.62% compared to ¥939,075,963.61 in 2020[13]. - The total assets at the end of 2021 were ¥7,748,704,934.69, representing a 95.20% increase from ¥3,969,611,914.85 at the end of 2020[14]. - The net assets attributable to shareholders at the end of 2021 were ¥7,167,050,880.66, up 110.09% from ¥3,411,459,905.45 at the end of 2020[14]. - The company's total revenue for 2021 reached CNY 2,518,647,389.14, representing a year-on-year increase of 10.82% compared to CNY 2,272,746,598.51 in 2020[43]. - The overall revenue for the company in 2021 was approximately CNY 2.52 billion, with a gross margin of 52.33%[28]. - The company's revenue from pickled vegetables was CNY 2,226,315,299.91, with a gross profit margin of 54.80%[45]. Dividend Distribution - The company reported a profit distribution plan to distribute a cash dividend of 3.5 yuan (including tax) for every 10 shares based on a total of 887,630,022 shares[3]. - The cash dividend per 10 shares for the annual distribution is set at RMB 3.50, amounting to a total of RMB 310,670,507.70, based on the total share capital as of December 31, 2021[144]. - The cash dividend policy complies with relevant laws and regulations, ensuring the protection of shareholders' interests, especially for minority shareholders[148]. Market Position and Strategy - The company has sold a total of 15 billion packages globally, indicating strong market demand[4]. - The company aims to focus on plant-based seasoning manufacturing and has developed a clear growth direction for its brand, emphasizing urban precision marketing and channel restructuring[20]. - The company maintains a leading position in the production and sales of pickled vegetables, with a strong market share for its "Wujiang" brand, which has high recognition and reputation[21]. - The company has implemented a strategy of "precise urban marketing" to reshape market structure amidst challenges from the pandemic and rising raw material costs[26]. - The company plans to continue expanding its product line through strategic acquisitions in complementary industries, aiming to solidify its position as a leader in the pickled vegetable sector[41]. Operational Challenges - The company faced challenges from rising raw material prices and increased competition, but it maintained its position as an industry leader through strategic initiatives[20]. - The cost of main raw materials, including green vegetable heads and semi-finished pickled vegetables, increased by approximately 80% and 42% respectively, leading to a 13% rise in overall business costs[32]. - The company recognizes the risk of raw material shortages and price fluctuations, particularly for key ingredients like pickled vegetables, and is developing strategies to mitigate these risks[84]. Corporate Governance - The company maintains a strong governance structure, ensuring compliance with regulatory requirements and enhancing operational transparency[93]. - The board of directors consists of 11 members, including 5 independent directors, complying with legal and regulatory requirements[94]. - The company has established specialized committees within the board to provide professional opinions and references for decision-making[94]. - The company has a dedicated investor relations management team that utilizes various communication channels to address investor inquiries promptly[96]. Environmental Responsibility - The company has established wastewater treatment facilities at all production sites to ensure compliance with environmental standards[159]. - The company has invested over 100 million yuan in developing MVR saltwater concentration and membrane filtration technology to enhance environmental protection facilities[169]. - The company has signed raw material purchase contracts with farmers, ensuring a protective price for the green cabbage heads to secure their income[170]. Research and Development - The company has established a national research center for pickled vegetable processing technology, enhancing its R&D capabilities and industry standards[38]. - R&D investment amounted to ¥25,048,459.58 in 2021, representing a 16.53% increase from ¥21,494,619.40 in 2020[58]. - The company is investing 50 million CNY in research and development for new technologies aimed at improving production efficiency[92]. Risk Management - The company has outlined potential risks in its future development plans, advising investors to be cautious[3]. - The company acknowledges risks related to market environment changes that could affect the implementation and effectiveness of investment projects[86]. - The company has implemented strategies to enhance raw material storage capacity and innovate procurement methods to mitigate risks associated with price volatility[85]. Employee Management - The company employed a total of 2,933 staff members at the end of the reporting period, including 1,348 in the parent company and 1,585 in major subsidiaries[127]. - The company has established a compensation management committee that implements a performance-based salary system, ensuring that total salary does not exceed the company's economic growth rate or labor productivity growth rate[133]. - The company has implemented a training program to enhance management skills and employee competencies, aligning with its strategic development goals[134].

Financial Performance - The company's revenue for Q3 2021 was CNY 608,592,010.46, representing a 1.30% increase year-over-year, while the year-to-date revenue reached CNY 1,955,329,427.55, up 8.73% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2021 was CNY 127,489,394.79, a decrease of 39.07% year-over-year, with a year-to-date net profit of CNY 503,663,158.26, down 17.92% compared to the previous year[3] - The basic earnings per share for Q3 2021 was CNY 0.153, reflecting a decline of 43.33% year-over-year, while the diluted earnings per share also stood at CNY 0.153, down 43.33%[3] - The net profit for the third quarter of 2021 was CNY 503,663,158.26, a decrease of 18.0% compared to CNY 613,606,691.16 in the same period last year[19] - The total operating profit for the quarter was CNY 594,729,756.43, down 17.7% from CNY 722,489,993.47 in the previous year[19] - The total comprehensive income attributable to the parent company was CNY 503,663,158.26, a decrease of 18.0% from CNY 613,606,691.16 in the previous year[20] Assets and Equity - The company's total assets as of the end of Q3 2021 amounted to CNY 7,844,442,577.08, an increase of 97.61% compared to the end of the previous year[3] - The equity attributable to shareholders increased to CNY 7,197,670,219.50, marking a 110.99% rise from the end of the previous year[3] - The company's equity attributable to shareholders reached RMB 7,197,670,219.50, compared to RMB 3,411,459,905.45 at the end of 2020[17] Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 531,084,644.06, down 24.33% compared to the same period last year[3] - The cash flow from operating activities was CNY 531,084,644.06, a decline of 24.3% compared to CNY 701,829,854.17 in the same period last year[21] - The company reported a significant increase in cash inflow from financing activities, totaling CNY 3,281,456,893.98, compared to a cash outflow of CNY -236,807,172.30 in the previous year[22] Receivables and Inventory - Accounts receivable surged by 1462.59% to CNY 42,746,705.41, attributed to the company's strategy of easing credit limits for certain customers to support new product sales[5] - Accounts receivable increased significantly to RMB 42,746,705.41 from RMB 2,735,629.20 year-over-year[15] - Inventory rose to RMB 481,514,156.67, compared to RMB 382,821,548.88 at the end of 2020, indicating a growth in stock levels[15] Expenses - Sales expenses rose by 83.69% to ¥519,356,188.42, mainly due to increased brand promotion costs of ¥223 million[6] - Total operating costs increased to RMB 1,379,174,277.85 from RMB 1,090,041,522.97, indicating a rise in expenses[18] - The company reported a significant increase in sales expenses to RMB 519,356,188.42 from RMB 282,732,247.06 year-over-year[18] - Research and development expenses decreased slightly to RMB 4,575,745.51 from RMB 5,471,092.30, indicating a focus on cost management in this area[18] Investments and Projects - The company is investing in the construction of a new pickled vegetable production base with an annual capacity of 50,000 tons and a technical transformation project for Doubanjiang with an annual capacity of 10,000 tons[5] - The company plans to use the proceeds from a non-public offering of up to ¥3.3 billion for the construction of a green intelligent production base[11] Government Subsidies and Tax Refunds - The company reported a government subsidy of CNY 2,382,087.43 for the current period, contributing to its non-operating income[4] - The company reported a 450.24% increase in tax refunds received, amounting to ¥8,842,337.98, mainly from VAT refunds[6] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 86,811[8] - The largest shareholder, Chongqing Fuling State-owned Assets Investment Group Co., Ltd., holds 35.26% of the shares[8] - The company raised a total of RMB 3,299,999,985.98 through a private placement of 98,272,781 shares at RMB 33.58 per share, with a net amount of RMB 3,279,921,524.52 after deducting issuance costs[12] Cash and Cash Equivalents - As of September 30, 2021, the company had cash and cash equivalents of RMB 3,162,351,734.34, an increase from RMB 1,749,576,465.89 as of December 31, 2020[14] - The cash and cash equivalents at the end of the period increased to CNY 1,719,008,127.89, compared to CNY 1,339,356,869.26 at the end of the previous year[22] Financial Management - Financial expenses increased by 316.17% to -¥72,448,870.63, attributed to higher interest income from cash management[6] - Investment income grew by 108.27% to ¥15,455,710.78, primarily from increased returns on bank and securities wealth management products[6] - Cash flow from operating activities saw a net increase of ¥1,408,073,707.27, a 174.85% rise, mainly due to increased cash from investment absorption[6] Audit Information - The company did not undergo an audit for the third quarter report[23]

Financial Performance - The company's operating revenue for the reporting period was CNY 1,346,737,417.09, representing a 12.46% increase compared to CNY 1,197,573,701.61 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was CNY 376,173,763.47, a decrease of 6.97% from CNY 404,357,038.26 in the previous year[15]. - The net cash flow from operating activities decreased by 44.71%, amounting to CNY 257,490,980.14 compared to CNY 465,710,618.09 in the same period last year[15]. - Total assets increased by 93.23% to CNY 7,670,441,435.84 from CNY 3,969,611,914.85 at the end of the previous year[15]. - The net assets attributable to shareholders of the listed company rose by 107.25% to CNY 7,070,180,824.71 from CNY 3,411,459,905.45 at the end of the previous year[15]. - The basic earnings per share decreased by 7.84% to CNY 0.47 from CNY 0.51 in the same period last year[15]. - The weighted average return on net assets was 10.45%, down from 13.16% in the previous year, a decrease of 2.71%[15]. - Total revenue for the company in the first half of 2021 was ¥1,196,349,095.54, representing a year-on-year increase of 12.48%[29]. - The gross margin for pickled vegetables decreased slightly from 61.39% in the first half of 2020 to 59.31% in the first half of 2021[29]. - The company reported a year-on-year increase in sales revenue for pickled vegetables of 16.42%, despite a slight decrease in gross margin[29]. - The company’s financial expenses increased significantly by 334.37% to approximately -¥42.62 million, mainly due to increased interest from cash management[43]. - The total comprehensive income for the first half of 2021 was CNY 139,304,090, compared to CNY 147,138,535 in the first half of 2020[149]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 3 per 10 shares (including tax) to all shareholders[4]. - The company reported a cash dividend of RMB 3.00 per 10 shares, totaling RMB 266,289,006.60, which represents 100% of the total profit distribution[68]. - The total number of shares for the cash dividend distribution is based on 887,630,022 shares[68]. - The company’s available distributable profit is RMB 1,529,507,252.72[68]. - The company has no plans for stock dividends or capital reserve transfers in the current profit distribution[68]. - The company’s profit distribution plan complies with relevant laws and regulations, ensuring legality and reasonableness[69]. - The company emphasizes the importance of maintaining a balance between shareholder returns and operational needs for future development[68]. - The company’s board of directors has approved the profit distribution plan in meetings held on July 29, 2021[68]. Market Position and Strategy - The company has maintained a leading position in the pickled vegetable industry, with continuous growth in market share and brand reputation[23]. - The company aims to enhance brand value and reshape channel structure through targeted marketing strategies, contributing to stable growth[26]. - The company’s strategic focus includes promoting the value of pickled vegetables and enhancing the "Wujiang" brand's market presence[26]. - The company has established a procurement model that integrates "company + cooperative + farmers," ensuring raw material supply and supporting rural revitalization[26]. - The company has adopted a city-based precision marketing management model, focusing on maximizing sales through various channels, including community group buying and fresh supermarkets[26]. - The company plans to expand its product line through mergers and acquisitions in complementary industries to strengthen its market position[41]. - The company is focused on expanding its raw material planting bases to stabilize supply and improve farmers' income[62]. - The company aims to increase merger and acquisition efforts, but there is uncertainty regarding the ability to maintain control over acquired companies while leveraging their competitive advantages[64]. Production and Operations - The production process has been fully mechanized and automated, with ongoing exploration of intelligent production models to improve efficiency and ensure product quality[26]. - The company operates primarily through a distribution model supplemented by e-commerce, with direct sales from platforms like "Sangtian Shike" and "Huijutianxia"[28]. - The company’s production is organized based on orders, with all products being self-produced, indicating a focus on quality control and supply chain management[33]. - The company has established a national research center for pickled mustard tuber processing technology, collaborating with several universities and research institutes[39]. - The company has implemented modern food engineering technologies, including nitrogen preservation and automated production lines, to enhance product quality and safety[38]. - The company has ongoing projects including a 16,000 tons/year pickled vegetable production line and a 50,000 tons/year pickled vegetable production base, both funded by self-owned capital[55]. Financial Management and Investments - The company completed a non-public offering, resulting in a net cash increase of approximately ¥2.74 billion, an increase of 808.37% compared to the previous year[44]. - The company engaged in entrusted financial management with a total amount of 380,000,000 CNY, including 310,000,000 CNY from bank financial products and 60,000,000 CNY from securities firms[93]. - The company has a remaining balance of 230,186,720 CNY in entrusted financial management, with no overdue amounts or impairment provisions[93]. - The company plans to use idle raised funds for financial management, with a projected annualized return rate of 4.30%, expecting a total return of 2,150,000 CNY[94]. - The company’s financial management strategy focuses on high safety, good liquidity, and principal protection[94]. - The company completed a non-public offering of shares, issuing 98,272,781 new shares listed on the Shenzhen Stock Exchange on May 18, 2021[100]. - The company received approval from the China Securities Regulatory Commission for the private placement on January 13, 2021[110]. - The company plans to utilize the raised funds for business expansion and new product development[116]. Environmental and Social Responsibility - The company has established wastewater treatment stations at all production facilities, ensuring compliance with environmental standards and normal operation[71]. - The company has implemented MVR technology to treat brine, reducing wastewater discharge and promoting resource reuse[71]. - The company has invested several hundred million yuan in building environmental protection facilities and has pioneered MVR brine concentration and membrane filtration technology in the industry[78]. - The company actively engages in poverty alleviation by providing technical guidance to farmers and ensuring a minimum purchase price for raw materials[78]. - The company conducts regular emergency drills for environmental incidents, ensuring preparedness and compliance with regulations[73]. - The company has no reported administrative penalties related to environmental issues during the reporting period[74]. - The company maintains a commitment to employee rights protection, offering training and support to enhance employee skills and welfare[77]. Risks and Challenges - The company faced risks related to raw material shortages and price fluctuations, particularly concerning the key ingredient, Qingcaitou[62]. - To mitigate raw material risks, the company plans to enhance its raw material storage capacity and improve procurement strategies[62]. - The company plans to strengthen market research and adopt various measures to enhance product sales and mitigate risks associated with market fluctuations[64]. Corporate Governance - The company has established a mechanism to protect the rights of minority shareholders, ensuring transparency and fairness in shareholder meetings[75]. - The company has not reported any significant litigation or arbitration matters during the reporting period[81]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[79]. - The company has no significant related party transactions during the reporting period[82]. - The company has not encountered any situations that may lead to the impairment of entrusted financial management principal[94]. - The company has not reported any changes in accounting policies or prior period error corrections during this reporting period[161].

Financial Performance - The company's operating revenue for 2020 was ¥2,272,746,598.51, representing a 14.23% increase from ¥1,989,593,123.12 in 2019 [13]. - The net profit attributable to shareholders for 2020 was ¥777,105,782.58, up 28.42% from ¥605,141,874.33 in 2019 [13]. - The net profit after deducting non-recurring gains and losses was ¥758,766,769.73, a 34.72% increase compared to ¥563,230,018.77 in 2019 [13]. - The net cash flow from operating activities reached ¥939,075,963.61, an increase of 81.81% from ¥516,502,463.03 in 2019 [13]. - The total assets at the end of 2020 were ¥3,969,611,914.85, reflecting an 18.07% increase from ¥3,362,039,813.54 at the end of 2019 [13]. - The net assets attributable to shareholders increased by 18.82% to ¥3,411,459,905.45 at the end of 2020 from ¥2,871,161,295.17 at the end of 2019 [13]. - The company maintained a basic earnings per share of ¥0.98, which is a 27.27% increase from ¥0.77 in 2019 [13]. - The company's total revenue for the reporting period reached ¥1,986,683,869.27, with a gross profit margin of 58.62% [35]. - The main product, pickled mustard tuber, generated revenue of CNY 1,974,960,457.67, accounting for 86.90% of total revenue, with a year-on-year growth of 15.32% [45]. - The gross profit margin for the main product, pickled mustard, was 60.54%, showing a slight decrease of 0.72% compared to the previous year [35]. Market and Product Development - The company achieved global sales of 15 billion packages of its products [5]. - The company’s main products include a variety of pickled vegetables, with the "Wujiang" brand leading in market share and recognition [21]. - The company is focused on expanding its product range and enhancing its market presence in the competitive pickled vegetable industry [22]. - The product categories include 12 types, with a focus on enhancing brand awareness and market presence through targeted marketing strategies [34]. - The company is exploring the development of new product categories, including sauces, to diversify its product matrix and expand its market presence [76]. - The company has developed 37 new products, including various flavored pickled vegetables and sauces, to enhance future product offerings [57]. Strategic Initiatives - The company plans to expand its product line through mergers and acquisitions, aiming to become the absolute leader in the condiment industry [31]. - The company is focusing on e-commerce and international business development, with significant growth reported in its online sales channels [33]. - The company is advancing the "Green Intelligent Production Base" project to align with national sustainable development trends [33]. - The company is addressing raw material supply challenges by forming specialized cooperatives and integrating resources to ensure stable supply and price balance in the market [77]. - The company is committed to maintaining high food safety standards and continuously improving its quality management systems to mitigate food safety risks [79]. Financial Management and Investment - The company reported a contract liability of 114.15 million yuan for pre-collected customer product sales during the reporting period [28]. - The company has established a new subsidiary, Chongqing Daoshengheng International Trade Co., Ltd., with a registered capital of CNY 20 million, fully owned by the company [53]. - The company is currently investing in multiple projects, including a 16,000 tons/year pickled vegetable production line, with a total investment of ¥80,331,020.33 for the reporting period [64]. - The company has engaged in financial management activities, with a total of 120 million yuan in entrusted financial products, including 100 million yuan in bank wealth management products and 20 million yuan in brokerage wealth management products [121]. - The company has invested 65 million yuan in structured deposits with Shanghai Pudong Development Bank, with an expected annualized return rate of 1.10% to 4.15% [122]. Corporate Governance and Compliance - The company has established a robust governance structure, including a board of directors and supervisory board, in compliance with relevant laws and regulations [189]. - The company has committed to not interfere with the management activities of the company and will compensate for any losses caused by violations of this commitment [100]. - The company has pledged not to utilize its shareholder status to harm the legitimate interests of other shareholders [93]. - The company has a structured remuneration system for its directors and senior management based on performance and responsibilities, ensuring alignment with company goals [176]. - The company has maintained a transparent information disclosure system to enhance communication with stakeholders [186]. Risk Management - The company faces risks related to raw material shortages and price fluctuations, which could impact operational performance, and is implementing strategies to enhance raw material storage and procurement capabilities [78]. - The company has established a comprehensive environmental monitoring system, with daily testing of wastewater discharge parameters such as COD and ammonia nitrogen [135]. - The company has a stable cash dividend policy, revising its cash dividend plan every three years based on operational performance [125]. Community Engagement and Sustainability - The company has actively engaged in disaster relief during the 2020 pandemic, providing food donations and encouraging employee contributions [127]. - The company has committed to purchasing green cabbage at a guaranteed price of 800 RMB per ton before the lunar rain season to ensure farmers' income [128]. - The company has adjusted its raw material procurement model to support poverty alleviation, benefiting local farmers and laborers [129].

Financial Performance - The company's revenue for Q1 2021 was ¥708,977,187.75, representing a 46.86% increase compared to ¥482,747,410.75 in the same period last year[2]. - Net profit attributable to shareholders for Q1 2021 was ¥203,231,279.23, up 22.73% from ¥165,596,376.32 year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥201,076,121.69, reflecting a 27.82% increase from ¥157,309,119.36 in the previous year[2]. - Operating revenue grew by 46.86% to ¥708,977,187.75, driven by a year-on-year increase in product sales volume[10]. - The total profit for the current period was ¥244,610,339.15, compared to ¥194,518,783.75 in the previous period, reflecting an increase of approximately 25.7%[36]. - Net profit for the current period was ¥203,231,279.23, compared to ¥165,596,376.32 in the previous period, representing a growth of approximately 22.7%[38]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥4,245,272,481.63, a 6.94% increase from ¥3,969,611,914.85 at the end of the previous year[2]. - The net assets attributable to shareholders increased by 5.96% to ¥3,614,691,184.68 from ¥3,411,459,905.45 year-on-year[2]. - The company's total liabilities increased, with accounts payable rising by 142.88% to ¥193,824,823.56, reflecting higher unpaid goods and service costs[10]. - Current liabilities rose to CNY 529,080,854.01, compared to CNY 455,679,642.57, indicating an increase of about 16.0%[30]. - The total liabilities amounted to CNY 630,581,296.95, compared to CNY 558,152,009.40, indicating an increase of about 12.9%[30]. Cash Flow - The net cash flow from operating activities was negative at -¥25,721,050.91, a significant decrease of 109.30% compared to ¥276,495,494.06 in the same period last year[2]. - The cash inflow from operating activities amounted to ¥747,164,574.11, an increase of 10.2% compared to ¥678,051,125.73 in the previous period[42]. - The cash outflow from operating activities totaled ¥772,885,625.02, significantly higher than ¥401,555,631.67 in the previous period, resulting in a net cash flow from operating activities of -¥25,721,050.91[44]. - The company experienced a net cash decrease of ¥78,778,769.72 in cash and cash equivalents during the period[45]. Shareholder Information - The top shareholder, Chongqing Fuling State-owned Assets Investment and Operation Group, holds 39.65% of the shares, totaling 312,998,400 shares[6]. - The company did not engage in any repurchase transactions during the reporting period[8]. Research and Development - R&D expenses increased by 149.30% to ¥2,326,972.81, reflecting investments in the development of a new pickling machine prototype[10]. - Research and development expenses increased to ¥2,326,972.81 from ¥933,415.21, showing a growth of approximately 149.5%[36]. Inventory and Accounts Receivable - Accounts receivable increased by 1813.31% to ¥52,341,057.43 due to relaxed credit limits for certain customers to enhance new product sales and competitiveness[10]. - Inventory rose by 68.67% to ¥645,696,830.76 primarily due to increased raw material acquisitions[10]. - Inventory levels rose to CNY 645,696,830.76, up from CNY 382,821,548.88, reflecting an increase of approximately 68.8%[27]. Regulatory Approvals - The company received approval from the China Securities Regulatory Commission (CSRC) for its non-public offering of A-shares on January 13, 2021[17]. - The company held a temporary shareholders' meeting on December 30, 2020, to approve the non-public offering of A-shares[19]. - The CSRC accepted the company's application for the non-public offering on December 11, 2020[17]. - The company submitted its application for the non-public offering on September 18, 2020[19]. - The company adjusted its non-public offering plan during a board meeting on October 27, 2020[19]. - The company received a feedback notice from the CSRC regarding its application on October 12, 2020[19]. - The company terminated its previous non-public offering application on November 18, 2020[16]. - The company plans to proceed with the non-public offering within the validity period of the approval[17]. - The company obtained approval from the Chongqing State-owned Assets Supervision and Administration Commission for the non-public offering on September 7, 2020[19]. - The company disclosed its decision to withdraw the previous non-public offering application on November 19, 2020[16]. Other Financial Information - The company has no investment income this period, compared to ¥7,180,309.80 in the same period last year, indicating a shift away from bank wealth management products[11]. - There were no significant changes in the company's financial asset investments or derivative investments during the reporting period[22][23]. - The company reported no overdue commitments from major shareholders or related parties during the reporting period[26]. - The company did not engage in any entrusted wealth management activities during the reporting period[24]. - There were no violations regarding external guarantees during the reporting period[26]. - The company held an investor meeting on March 23, 2021, to discuss the non-public stock issuance with potential investors[26]. - The company did not conduct an audit for the first quarter report, which may affect the reliability of the financial data presented[48].

Financial Performance - Operating revenue for the period was ¥600,767,980.66, reflecting a year-on-year growth of 15.88%[4] - Net profit attributable to shareholders was ¥209,249,652.90, representing a 3.01% increase compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥206,700,666.99, up by 3.79% year-on-year[4] - Basic earnings per share were ¥0.27, an increase of 3.85% year-on-year[4] - Total operating revenue for the third quarter reached CNY 600,767,980.66, an increase of 15.85% compared to CNY 518,426,697.55 in the same period last year[38] - Net profit for the quarter was CNY 209,249,652.90, representing a 3.09% increase from CNY 203,139,942.50 in the previous year[40] - Total operating revenue for the period reached ¥1,798,341,682.27, an increase from ¥1,604,378,805.53 in the previous period, representing a growth of approximately 12.1%[43] - Net profit for the period was ¥613,606,691.16, up from ¥517,962,784.70 in the previous period, indicating a growth of approximately 18.4%[45] Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,814,537,918.84, an increase of 13.46% compared to the end of the previous year[4] - The total liabilities of the company were CNY 566,577,104.81, compared to CNY 490,878,518.37 at the end of 2019, marking an increase of approximately 15.4%[32] - The total current liabilities increased to CNY 464,270,463.99 from CNY 385,190,309.43, reflecting a growth of approximately 20.6%[32] - Cash and cash equivalents increased by 43.05% to ¥1,367,216,400.40 due to increased sales receipts during the reporting period[12] - Cash and cash equivalents at the end of the period reached CNY 1,339,356,869.26, compared to CNY 650,255,864.33 at the end of the same quarter last year, showing an increase of approximately 105.73%[51] Cash Flow - Net cash flow from operating activities amounted to ¥236,119,236.08, showing a significant increase of 10.40% compared to the previous year[4] - Operating cash flow net amount increased by 59.14% to ¥701,829,854.17, driven by higher sales receipts while raw material purchase payments remained stable[13] - Cash flow from operating activities increased to CNY 701,829,854.17, up from CNY 441,024,716.71 in the same quarter last year, marking an increase of approximately 58.93%[50] - The net cash flow from operating activities for the period was CNY 743,929,847.75, an increase of 94.9% compared to CNY 381,804,595.04 in the previous period[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 41,889, with the top ten shareholders holding 39.65% of the shares[7] - The largest shareholder, Chongqing Fuling State-owned Assets Investment Group Co., Ltd., held 312,998,400 shares, accounting for 39.65% of the total shares[7] Investment and Financial Management - The company has a total of 120 million yuan in entrusted financial management, with 100 million yuan in bank financial products and 20 million yuan in broker financial products[22] - The company reported a return of 162.86 million yuan from its entrusted financial management during the reporting period[23] - The company plans to continue its entrusted financial management based on operational conditions[23] - The company has not engaged in any securities or derivative investments during the reporting period[20][21] Operational Highlights - Accounts receivable surged by 9949.73% to ¥38,799,705.79 as the company relaxed credit limits for certain customers to boost new product sales and competitiveness[12] - Prepayments rose by 657.00% to ¥42,419,724.95 primarily due to increased advance payments for strategic consulting services and raw material purchases[12] - The company reported a significant increase in employee compensation liabilities, which rose to CNY 38,473,602.97 from CNY 30,562,223.19, a growth of approximately 25.5%[32] - Research and development expenses were CNY 3,808,022.43, slightly down from CNY 3,847,709.09, indicating stable investment in innovation[39] Regulatory and Compliance - The company signed a management agreement with its controlling shareholder to manage a subsidiary responsible for establishing a professional cooperative in the pickled vegetable industry[14] - The company plans to issue non-public A-shares, with approval from the local state-owned assets supervision authority obtained on September 7, 2020[17] - The company submitted an application for a non-public stock issuance to the China Securities Regulatory Commission (CSRC) on September 18, 2020, which was accepted on September 23, 2020[18] - The company received feedback from the CSRC regarding the non-public stock issuance application on October 12, 2020[18] - The company has no overdue or unfulfilled commitments from actual controllers, shareholders, or related parties during the reporting period[19] - There are no violations regarding external guarantees during the reporting period[24] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[25] Market Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[44]

Financial Performance - The company's operating revenue for the reporting period was CNY 1,197,573,701.61, representing a 10.28% increase compared to CNY 1,085,952,107.98 in the same period last year[11]. - The net profit attributable to shareholders was CNY 404,357,038.26, up 28.44% from CNY 314,822,842.20 year-on-year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 394,441,751.75, reflecting a 26.42% increase from CNY 312,004,712.45 in the previous year[11]. - The net cash flow from operating activities reached CNY 465,710,618.09, a significant increase of 105.03% compared to CNY 227,139,911.97 in the same period last year[11]. - Basic earnings per share were CNY 0.51, an increase of 27.50% from CNY 0.40 in the previous year[11]. - The gross profit margin for the food processing segment was 57.41%, with operating revenue increasing by 10.31% and operating costs increasing by 13.49% year-on-year[31]. - The total profit for the first half of 2020 was CNY 474,792,999.11, compared to CNY 370,822,164.30 in the first half of 2019, marking a 28.1% increase[94]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 3,628,294,464.80, a 7.92% increase from CNY 3,362,039,813.54 at the end of the previous year[11]. - The net assets attributable to shareholders were CNY 3,038,711,161.13, up 5.84% from CNY 2,871,161,295.17 at the end of the previous year[11]. - The company's total liabilities increased to RMB 589,583,303.67 from RMB 490,878,518.37, which is an increase of approximately 20.1%[87]. - The company's current liabilities amounted to RMB 486,281,467.44, up from RMB 385,190,309.43, indicating an increase of about 26.2%[87]. Cash Flow - The company's cash and cash equivalents increased by ¥302,042,148.67, a significant turnaround from a decrease of ¥908,915,590.45 in the previous year[28]. - The cash inflow from sales of goods and services was CNY 1,169,534,541.22, up from CNY 931,987,610.02 in the previous period, indicating a growth of approximately 25.5%[102]. - The cash paid to employees increased to CNY 123,295,661.70 from CNY 113,413,275.51, marking an increase of approximately 8.3%[100]. Market Position and Strategy - The company maintains a leading position in the pickled vegetable industry, with its main products including pickled mustard tuber, radish, and pickled cabbage, which are essential for enhancing meal flavors and have a strong consumer base[16]. - The company has established a sales network covering 34 provinces and municipalities, with over 1,600 loyal first-level distributors[21]. - The company has successfully navigated challenges posed by macroeconomic downturns and the COVID-19 pandemic, achieving both revenue and profit growth through strategic adjustments[16]. - The company is focusing on brand promotion through various marketing activities, including online live streaming sales[24]. Research and Development - The company has set up a research and development institution recognized as a national center for pickled vegetable processing technology, collaborating with several universities and research institutes[20]. - Research and development investment increased by 9.78% to ¥11,048,114.29 from ¥10,064,298.52 in the previous year[28]. - The company has implemented modern food engineering technologies, achieving automation in production processes, which enhances product quality and safety[19]. Environmental and Social Responsibility - The company has established a protective price mechanism for purchasing green cabbage heads, ensuring farmers' interests are safeguarded[59]. - The company continues to promote industrial poverty alleviation through cooperation with professional cooperatives[60]. - The company has not experienced any major litigation or arbitration matters during the reporting period[48]. Shareholder Information - The total number of shares before the change was 789,357,241, with 1.50% being restricted shares and 98.50% being unrestricted shares[65]. - The largest shareholder, Chongqing Fuling State-owned Assets Investment Group, holds 312,998,400 shares, representing 39.65% of the total[68]. - The total number of shareholders at the end of the reporting period was 35,157[68]. Accounting Policies - The company's financial statements are prepared on a going concern basis, indicating no significant doubts about its ability to continue operations for the next 12 months[115]. - The company uses Renminbi as its functional currency for accounting purposes[120]. - The company recognizes revenue at the point when the customer gains control of the goods or services, which includes criteria such as receipt of payment and transfer of ownership[169].

Financial Performance - The company's operating revenue for Q1 2020 was CNY 482,747,410.75, a decrease of 8.33% compared to CNY 526,601,163.30 in the same period last year[2] - Net profit attributable to shareholders was CNY 165,596,376.32, representing an increase of 6.67% from CNY 155,248,579.64 year-on-year[2] - Basic earnings per share rose to CNY 0.21, up 5.00% from CNY 0.20 in the same period last year[2] - The total operating income for the first quarter was CNY 260,698,684.06, a decrease of 9.5% compared to CNY 289,209,274.36 in the same period last year[26] - The total profit for the quarter was CNY 194,518,783.75, an increase of 6.5% from CNY 183,516,248.50 year-over-year[24] - The total comprehensive income for the quarter was CNY 165,596,376.32, up from CNY 155,248,579.64, reflecting overall growth in financial performance[25] Cash Flow - The net cash flow from operating activities surged to CNY 276,495,494.06, a significant increase of 6,666.91% compared to CNY 4,085,991.89 in the previous year[2] - The total cash inflow from operating activities was CNY 678,051,125.73, compared to CNY 496,887,434.30 in the previous period, representing a growth of approximately 36.4%[30] - The cash inflow from investment activities totaled CNY 1,447,180,309.80, compared to CNY 403,383,037.52 in the previous period, marking an increase of approximately 258.5%[33] - The net cash flow from investment activities was CNY 191,923,527.70, a turnaround from a negative cash flow of CNY 718,433,777.24 in the previous period[30] - The company experienced a net increase in cash and cash equivalents of CNY 468,419,021.76, contrasting with a decrease of CNY 714,347,785.35 in the previous period[31] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,742,489,954.68, an increase of 11.32% from CNY 3,362,039,813.54 at the end of the previous year[2] - Total liabilities rose to CNY 705,732,283.19, compared to CNY 490,878,518.37, marking an increase of 43.73%[18] - The total equity attributable to shareholders increased to CNY 3,036,757,671.49 from CNY 2,871,161,295.17, a growth of 5.79%[19] - The company's inventory increased to CNY 264,028,058.20 from CNY 226,583,515.31, reflecting a growth of 16.52%[20] Shareholder Information - The top shareholder, Chongqing Fuling State-owned Assets Investment and Operation Group Co., Ltd., holds 39.65% of the shares[5] - The total number of ordinary shareholders at the end of the reporting period was 34,148[5] Expenses and Investments - Research and development expenses grew by 412.32% to ¥933,415.21 from ¥182,194.75, reflecting increased investment in new product development[10] - The company reported a decrease in sales expenses to CNY 76,751,133.84 from CNY 105,881,492.57, indicating improved efficiency in sales operations[23] - Other income increased to CNY 3,030,045.97 from CNY 1,698,944.60, contributing positively to overall profitability[23] Government Support - The company received government subsidies amounting to CNY 3,030,045.97 during the reporting period[3]