金字火腿股份有限公司 2021 年第一季度报告全文 金字火腿股份有限公司 2021 年第一季度报告 2021 年 04 月 1 金字火腿股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人施延军、主管会计工作负责人吴月肖及会计机构负责人(会计主 管人员)李华安声明：保证季度报告中财务报表的真实、准确、完整。 2 金字火腿股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | | 本报告期 | 上年同期 | 本报告期比上年 ...

Financial Performance - Operating revenue for the reporting period was ¥172,234,095.65, representing a significant increase of 305.00% year-on-year[10] - Net profit attributable to shareholders was ¥28,506,036.00, up 244.47% compared to the same period last year[10] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥27,875,827.41, an increase of 372.96% year-on-year[10] - Basic earnings per share for the reporting period was ¥0.030, reflecting a growth of 275.00% compared to the same period last year[10] - Total operating revenue for the current period reached ¥71,279,038.40, a significant increase from ¥1,198,963.88 in the previous period[85] - Net profit for the current period was ¥28,243,474.90, up from ¥8,275,230.25 in the previous period, reflecting strong operational performance[81] - The total profit for the current period was ¥28,973,407.99, compared to ¥9,445,497.08 in the previous period, highlighting significant growth[81] - The company reported a total profit of ¥96,073,046.85 for the current period, up from ¥51,079,557.35 in the previous period, indicating a growth of approximately 88.1%[95] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,682,499,034.86, an increase of 16.75% compared to the end of the previous year[10] - The total liabilities amounted to CNY 222,330,971.14, compared to CNY 57,601,167.96 in the previous period, indicating a substantial increase in financial obligations[72] - The total current assets were CNY 586,523,856.73, an increase from CNY 522,524,775.33 in the previous period[67] - The total assets of the company were recorded at $1,441,093,910.07, with non-current assets totaling $405,182,440.36[122] - Total liabilities reached approximately $57.60 million, with current liabilities totaling $2.73 million and non-current liabilities at $54.88 million[134] Cash Flow - The net cash flow from operating activities was -¥21,601,589.93, a decrease of 28.15% year-on-year[10] - The company reported a net cash outflow from operating activities of CNY -231,778,660.09, a significant decline of 557.65% year-on-year[29] - The total cash inflow from operating activities was 529,633,289.60 CNY, while cash outflow was 761,411,949.69 CNY, resulting in a net cash flow deficit[108] - The company reported a net cash flow from investment activities of 59,259,600.74 CNY, an increase from 45,927,541.02 CNY in the previous period, indicating improved investment returns[111] - Cash inflow from financing activities was 230,000,000.00 CNY, with a net cash flow of 182,534,248.89 CNY after accounting for cash outflows[111] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 72,956[15] - The largest shareholder, Jinhua Bama Investment Enterprise, held 20.30% of the shares, totaling 198,625,280 shares[15] - The company did not conduct any repurchase transactions among the top 10 ordinary shareholders during the reporting period[22] Operational Efficiency - Operating costs rose to CNY 352,120,870.29, reflecting a 275.70% increase due to higher sales of specialty meat products[26] - The company’s development expenses rose by 290.75% to CNY 1,666,144.25, driven by increased spending on the meat trading platform[26] - The company experienced a decrease in management expenses to ¥3,179,370.35 from ¥3,576,161.70 in the previous period, indicating improved operational efficiency[81] Inventory and Receivables - Inventory increased by 52.80% to CNY 581,592,929.62, attributed to increased procurement efforts[26] - Accounts receivable decreased to CNY 15,795,739.22 from CNY 17,548,587.52, showing a decline of about 10%[57] Financial Management - The company’s financial expenses decreased by 61.80% to CNY -1,090,578.06, mainly due to reduced interest expenses[26] - The company has no derivative investments or entrusted financial management during the reporting period[39][43] - The company has not provided any guidance for significant changes in net profit for the year 2020[43] Investor Relations - The company engaged in multiple investor relations activities, discussing its basic situation and development strategy with various institutional investors[46][48]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 313,599,823.85, representing a 149.68% increase compared to CNY 125,600,491.40 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 64,021,150.38, up 63.21% from CNY 39,226,129.87 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was CNY 63,111,871.57, reflecting a 67.66% increase compared to CNY 37,643,300.90 in the previous year[23]. - The basic earnings per share increased to CNY 0.07, a rise of 75.00% from CNY 0.04 in the same period last year[23]. - The company achieved operating revenue of CNY 313.60 million, a year-on-year increase of 149.68%, driven by the growth in specialty meat products and branded meat sales[58]. - The net profit attributable to shareholders reached CNY 64.02 million, reflecting a 63.21% increase compared to the same period last year[58]. - The company reported a significant increase in operating costs, totaling CNY 220.44 million, which is a 224.63% rise due to increased sales of specialty meat products[66]. - The company’s cash flow from operating activities showed a net outflow of CNY 210.18 million, a drastic decrease of 3,959.58% compared to the previous year, primarily due to increased procurement[66]. - The company reported a decrease in undistributed profits to CNY 177,064,389.38 from CNY 224,700,523.16[194]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,661,277,582.77, which is a 15.28% increase from CNY 1,441,093,910.07 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were CNY 1,330,825,236.66, showing a slight increase of 1.30% from CNY 1,313,727,447.63 at the end of the previous year[23]. - Total liabilities amounted to CNY 330,389,260.17, an increase from CNY 127,001,301.69[184]. - Current liabilities totaled CNY 270,690,995.34, compared to CNY 67,212,086.82 in the previous period[184]. - Non-current liabilities were CNY 59,698,264.83, slightly decreased from CNY 59,789,214.87[184]. - The company's total current assets as of June 30, 2020, amounted to CNY 1,263,651,654.33, an increase from CNY 1,035,911,469.71 as of December 31, 2019, representing a growth of approximately 21.0%[178]. - Inventory rose significantly to CNY 528,100,829.21 from CNY 380,633,946.74, marking an increase of around 38.9%[178]. - The company's cash and cash equivalents decreased to CNY 83,770,719.93 from CNY 86,592,095.94, a decline of about 3.3%[178]. Business Operations and Strategy - The company has maintained steady growth in its ham business while rapidly developing sausages, cured meats, and plant-based meat products, achieving industry-leading market share and brand recognition[34]. - The company has expanded its product range to include four major product systems: ham, specialty meat products, branded meat, and plant-based meat, enhancing market coverage and consumer engagement[40]. - Online sales have experienced rapid growth, with the company actively exploring new channels such as fresh e-commerce and live streaming, resulting in increased user interaction and repeat purchases[40]. - The company has strengthened its cost advantages by increasing procurement efforts and enhancing production efficiency through new product development and technological upgrades[40]. - The company is focusing on the development of branded and prepared meat products, which are in high demand and have a large market capacity, contributing to its growth strategy[44]. - The company has invested in the renovation of its branded meat processing facilities, indicating a commitment to expanding its production capabilities[48]. - The company is actively developing its meat trading platform, which is expected to enhance its market presence and operational efficiency[48]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The largest shareholder, Jinhua Bama Investment Enterprise, holds 20.30% of the shares, totaling 198,625,280 shares[150]. - The actual controller of the company is Shi Yanjun, who holds 10.58% of the shares, totaling 103,487,227 shares[150]. - The company repurchased a total of 39,846,053 shares, accounting for 4.0729% of the total share capital, with a total expenditure of 171,409,894.81 RMB[142]. - The maximum repurchase price was 5.35 RMB per share, while the minimum was 4.05 RMB per share[142]. - The total number of shares before the recent change was 978,313,280, with 13.24% being restricted shares and 86.76% being unrestricted shares[141]. - The number of restricted shares decreased by 28,940,757, resulting in a total of 100,553,966 restricted shares, which is 10.28% of the total[141]. Compliance and Risk Management - The company faces risks related to pork price fluctuations, which directly impact raw material procurement costs, and has strategies in place to mitigate these risks[98]. - The company adheres to strict quality control measures in compliance with ISO standards to ensure food safety and quality, which is critical in the food processing industry[98]. - The company reported no significant litigation or arbitration matters during the reporting period[109]. - There were no penalties or rectification situations reported by the company in the reporting period[110]. - The company did not implement any stock incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[111].

证券代码：002515 证券简称：金字火腿 公告编号：2020-048 金字火腿股份有限公司 关于参加浙江辖区上市公司投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误 导性陈述或重大遗漏。 为进一步加强与投资者的沟通交流，金字火腿股份有限公司（以下简称"公 司"）将参加由浙江证监局指导、浙江上市公司协会与深圳市全景网络有限公司 共同举办的"凝心聚力 共克时艰"辖区上市公司投资者网上集体接待日活动， 现将有关事项公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台举行，投资者可以登录"全景·路演天下"网站（http://rs.p5w.net） 参与公司本次投资者网上接待日活动。网上互动交流时间为 2020 年 5 月 15 日 星期五）下午 15:00-17:00。 届时公司董事长施延军先生、总裁兼财务总监吴月肖女士、董事会秘书王启 辉先生及相关工作人员将采用网络远程方式，与投资者就公司治理、发展战略、 经营状况、可持续发展等投资者所关心的问题进行交流。（如有特殊情况，参与 人员会有调整） 欢迎广大投资者积极参与。 特此 ...

Financial Performance - The company's operating revenue for 2019 was ¥281,538,590.24, a decrease of 33.98% compared to ¥426,424,363.92 in 2018[29]. - The net profit attributable to shareholders was ¥33,545,965.15, a significant increase of 497.94% from a loss of ¥8,429,931.88 in 2018[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥18,113,131.91, up 195.20% from a loss of ¥19,025,994.56 in 2018[29]. - The company's cash flow from operating activities was -¥129,215,512.43, a slight decrease of 4.44% compared to -¥123,723,951.13 in 2018[29]. - Basic earnings per share increased to ¥0.04, a 500.00% improvement from -¥0.01 in 2018[29]. - Total assets at the end of 2019 were ¥1,441,093,910.07, down 3.59% from ¥1,494,700,315.57 at the end of 2018[29]. - The company reported a total of ¥15,432,833.24 in non-recurring gains for 2019, compared to ¥10,596,062.68 in 2018[35]. - The company achieved operating revenue of 281.54 million yuan, a decrease of 33.98% year-on-year; excluding Zhongyu Capital, actual revenue increased by 30.24%[57]. - Net profit attributable to shareholders was 33.55 million yuan, an increase of 497.94% year-on-year; adjusted net profit, excluding impairment, was 89.68 million yuan, up 112.32%[57]. - The company reported an investment income of ¥1,770,444.67, accounting for 4.92% of total profit[87]. Dividend Distribution - The company reported a profit distribution plan, proposing a cash dividend of 0.5 RMB per 10 shares (including tax) based on a total of 938,467,227 shares[12]. - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares, totaling 46,923,361.35 yuan for the year 2019[123]. - The total cash dividend, including other methods such as share repurchase, amounts to 145,083,405.25 yuan, representing 100% of the distributable profit[127]. - The cash dividend for 2019 represents 139.88% of the net profit attributable to the company's ordinary shareholders[123]. - The company has significant capital expenditure plans, which necessitate maintaining a minimum cash dividend ratio of 20%[127]. - The cash dividend total includes 98,160,043.90 yuan from other methods, indicating a strong financial position[127]. - The company did not distribute cash dividends or bonus shares in 2017 and 2018, with retained earnings carried forward to the next year[123]. Inventory and Liquidity Risks - The company has a significant proportion of inventory in its current assets, leading to liquidity risks due to the unique asset structure of its products[12]. - The company's unique asset structure, with a significant portion of inventory tied up in long-term aging processes, poses liquidity risks[115]. - The company's inventory increased by 132.13% to ¥380,633,946.70 at the end of 2019 compared to ¥163,971,713.12 in the previous year[88]. - The proportion of cash and cash equivalents decreased by 11.38% to 6.01% of total assets, primarily due to share repurchases and increased raw material purchases[88]. Quality Control and Food Safety - The company adheres to strict quality control measures, implementing ISO9001, ISO22000, and ISO14001 standards to ensure food safety and product quality[8]. - The company emphasizes the importance of food safety and quality control in response to increasing consumer awareness and regulatory scrutiny[8]. - The company has established a monitoring and quality control system to ensure key processes are closely monitored[11]. - The company adheres to strict food safety and quality control standards, including ISO certifications, to mitigate food safety risks[114]. - The company has received multiple quality and safety certifications, reinforcing its commitment to product quality and brand reputation[53]. Market and Product Development - The company launched new brands such as Xinwei and Gongji, focusing on e-commerce channels to enhance brand value[44]. - The company plans to continue expanding its product line, including plant-based meat products, to meet market demand[44]. - The company launched a new brand and expanded sales through social e-commerce and live streaming, enhancing market coverage for its ham and meat products[45]. - The company focused on high-value products, leading to synchronized growth in sales scale and profits, despite market competition and rising costs[45]. - The fermentation meat product industry is in a mature market stage, while the company's unique product, Parma fermented ham, is in a cultivation phase in China, indicating future growth potential[46]. - The company is developing new products, including plant-based meat, to meet the growing demand for healthy and environmentally friendly options[110]. - The company is transitioning from a production-focused entity to a brand-oriented business, enhancing brand value and pricing power[110]. Operational Efficiency - The company emphasized the mechanization, automation, and intelligence of production processes to improve efficiency and ensure food safety[44]. - The company has advanced production technology and holds national patents, enhancing its competitive edge in the fermented meat product sector[52]. - The company is leveraging its scale advantages to accurately capture market dynamics and opportunities in the meat product industry[53]. - The company has established a nationwide sales network and is actively developing online sales channels, increasing its brand influence and user base[53]. Risks and Challenges - The company faces risks from pork price fluctuations, which directly impact raw material procurement costs due to factors like supply and demand, feed prices, and pig growth cycles[7]. - The company faces risks from pork price volatility, which directly impacts raw material costs and profitability[114]. Corporate Governance and Compliance - The company operates under the supervision of Tianjian Accounting Firm, ensuring compliance and transparency in financial reporting[28]. - The company has maintained compliance with all commitments made during the reporting period[128]. - The company has committed to ensuring that there are no financial assistance or compensation arrangements with Baima Investment and its partners, confirming compliance as of the announcement date[134]. - The actual controller of the company, Shi Yanjun, has committed to paying a total of 116,864,525.00 yuan by December 30, 2019, along with interest calculated at the bank's loan rate from March 1, 2018, until payment completion[146]. - The company reported no non-operating fund occupation by the controlling shareholder or its related parties during the reporting period[148]. - The company has not made any significant accounting errors that require retrospective restatement during the reporting period[157]. - There were no changes in the scope of consolidation compared to the previous year's financial report, except for a reduction due to the disposal of equity in a subsidiary[158]. - The company did not engage in any major litigation or arbitration matters during the reporting period[161]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[165]. - There were no related party transactions in daily operations during the reporting period[166]. - The company did not experience any penalties or rectification situations during the reporting period[164].

Financial Performance - The company's operating revenue for Q1 2020 was ¥190,878,192.22, representing a 103.34% increase compared to ¥93,869,926.41 in the same period last year[10] - Net profit attributable to shareholders was ¥48,885,002.57, up 53.34% from ¥31,879,106.91 year-on-year[10] - Basic and diluted earnings per share increased to ¥0.05, reflecting a growth of 66.67% from ¥0.03[10] - The net profit for the first half of 2020 is expected to increase by over 50% year-on-year, with a projected range of ¥63 million to ¥85 million[32] - Net profit for the quarter was ¥48,796,024.96, up from ¥31,879,106.91 year-over-year, reflecting a growth of approximately 52.9%[68] - The company reported a profit margin of approximately 25.6% for the quarter, calculated from the net profit relative to total operating revenue[68] Cash Flow - The net cash flow from operating activities was -¥40,194,231.38, a decrease of 255.06% compared to ¥25,921,793.55 in the previous year[10] - The cash flow from operating activities showed a net outflow of -¥40,194,231.38, contrasting with a net inflow of ¥25,921,793.55 in the previous period[82] - The total cash inflow from operating activities was ¥195,223,373.35, while the total cash outflow was ¥235,417,604.73, leading to a negative cash flow situation[82] - The company reported cash and cash equivalents at the end of the period amounting to ¥304,677,392.42, an increase from ¥116,726,546.61 at the end of the previous period[84] - The company received cash from financing activities totaling ¥230,000,000.00, indicating active financing efforts during the period[83] - The net increase in cash and cash equivalents was CNY 107,066,245.05, a recovery from a decrease of CNY -56,038,567.52 in the previous period[89] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,704,541,264.58, an 18.28% increase from ¥1,441,093,910.07 at the end of the previous year[10] - The total liabilities of the company as of March 31, 2020, were CNY 341,652,631.24, compared to CNY 127,001,301.69 at the end of 2019, showing a significant increase of approximately 169.5%[51] - The company's total assets increased to ¥1,461,976,105.63 from ¥1,304,251,901.10, marking a rise of about 12.1%[61] - Total liabilities rose to ¥216,163,335.54, compared to ¥57,601,167.96 in the previous year, showing a substantial increase[61] Shareholder Equity - The net assets attributable to shareholders were ¥1,362,612,450.20, up 3.72% from ¥1,313,727,447.63[10] - The company's equity attributable to shareholders increased to CNY 1,362,612,450.20 from CNY 1,313,727,447.63, representing a growth of about 3.7%[54] - The total equity of the company was reported at ¥1,245,812,770.09, slightly down from ¥1,246,650,733.14, indicating a decrease of approximately 0.1%[61] Operating Costs and Expenses - The company reported a 142.00% increase in operating costs, amounting to approximately ¥125.11 million, corresponding to the rise in sales revenue[26] - Total operating costs amounted to ¥139,078,119.56, compared to ¥60,965,134.09 in the same period last year, indicating an increase of about 128.5%[65] - The company recorded a 69.89% increase in selling expenses, totaling approximately ¥10.09 million, due to higher sales revenue[26] - The company incurred financial expenses of ¥209,296.00, which included interest expenses of ¥286,527.76, highlighting the cost of financing[72] Investments and Acquisitions - The investment income for the period was approximately ¥505,479, marking a 100% increase due to returns from financial products[26] - The company completed the acquisition of 51% equity in Zhongyu Capital, which constitutes a significant asset restructuring[27] Strategic Plans - The company plans to expand its product offerings in imported brand meats and prepared meat products, contributing to expected revenue growth[32] - The company's short-term borrowings reached ¥230 million, marking a 100% increase due to new bank loans[24] - The company's short-term borrowings amounted to CNY 230,000,000.00, indicating a new financial strategy to leverage debt for growth[48]

Financial Performance - Operating revenue for the reporting period was CNY 42.53 million, down 60.37% year-on-year, while revenue from the beginning of the year to the reporting period was CNY 168.13 million, a decrease of 48.41%[10] - Net profit attributable to shareholders was CNY 8.28 million, an increase of 191.77% year-on-year, with a cumulative net profit of CNY 47.50 million, up 316.38%[10] - Basic earnings per share for the reporting period were CNY 0.008, an increase of 188.89% year-on-year, while diluted earnings per share were also CNY 0.008[10] - Total operating revenue for the third quarter was CNY 42,526,623.01, a decrease of 60.4% compared to CNY 107,300,880.61 in the same period last year[71] - The company's net profit for the period was not explicitly stated, but the decrease in revenue and costs suggests a significant impact on profitability[71] - The company's operating revenue for the current period is CNY 1,198,963.88, a decrease of 30.2% compared to CNY 1,719,718.60 in the previous period[83] - The net profit for the current period is CNY 1,119,582.78, an increase of 35% from CNY 829,530.13 in the previous period[84] - The total profit for the current period is CNY 1,895,355.87, compared to CNY 976,589.32 in the previous period, indicating a significant improvement[84] Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 1.43 billion, a decrease of 4.14% compared to the end of the previous year[10] - Cash and cash equivalents decreased by 82.52% to CNY 45,439,820.42 due to share repurchases, subscription to industrial funds, and raw material purchases[23] - Inventory increased by 58.35% to CNY 259,652,957.68 primarily due to increased procurement of raw materials[23] - The total liabilities decreased to ¥105.21 million from ¥116.36 million, a decline of about 9.8%[57] - The company's total liabilities were CNY 142,798,200.30, an increase of 102.5% compared to CNY 70,422,700.96 in the previous year[67] - Current assets totaled CNY 657,438,728.30, a decrease of 10% from CNY 730,731,065.35 in the previous year[64] Cash Flow - The net cash flow from operating activities was negative CNY 30.07 million, a decrease of 38.78% compared to the same period last year[10] - Cash flow from operating activities generated a net outflow of CNY -35,243,677.52, compared to CNY -121,802,648.35 in the prior period[105] - Cash inflow from operating activities totaled CNY 202,423,441.48, down from CNY 417,806,238.01 year-over-year[105] - Cash outflow for operating activities was CNY 237,667,119.00, significantly lower than CNY 539,608,886.36 in the previous year[105] - The company reported a significant decrease in cash flow from financing activities, resulting in a net outflow of CNY -98,198,898.08[111] Shareholder Information - The total number of shareholders at the end of the reporting period was 37,112, with the top ten shareholders holding a combined 56.25% of the shares[14] - The largest shareholder, Jinhua Bama Investment Enterprise, held 20.30% of the shares, amounting to 198,625,280 shares[14] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[19] Government Support and Subsidies - The company received government subsidies amounting to CNY 4.22 million during the reporting period[10] Research and Development - The company reported a significant reduction in R&D expenses to CNY 883,961.96 from CNY 5,666,542.16, reflecting a strategic shift in investment[71] - Research and development expenses for the current period are ¥2,455,610.83, down 82.9% from ¥14,354,547.29 in the previous period[89] Compliance and Governance - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[41] - There were no violations regarding external guarantees during the reporting period[40] - The company implemented new financial instrument standards starting January 1, 2019, affecting the impairment provision for receivables from "incurred loss model" to "expected loss model"[118] - The company holds a limited variety of financial instruments, resulting in no retrospective adjustments to prior comparative data under the new standards[118] Other Financial Metrics - The company reported other comprehensive income after tax of CNY 3,888,066.39, contributing positively to the overall financial performance[78] - The company incurred a financial expense of CNY -41.38, a significant reduction from CNY -402,298.99 in the previous period[83] - The company achieved other income of CNY 2,694,300.00, a substantial increase from CNY 303,600.00 in the previous period[83] - The company recorded an asset impairment loss of CNY -144,361.70, compared to a gain of CNY 84,726.78 in the previous period[83] - The company’s tax expense for the current period is CNY 775,773.09, compared to CNY 147,059.19 in the previous period, reflecting increased profitability[84]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 125,600,491.40, a decrease of 42.54% compared to the same period last year[23]. - Net profit attributable to shareholders was CNY 39,226,129.87, representing a significant increase of 92.05% year-on-year[23]. - The net profit after deducting non-recurring gains and losses was CNY 37,643,300.90, up 192.57% from the previous year[23]. - Basic and diluted earnings per share both reached CNY 0.04, doubling from CNY 0.02 in the previous year[23]. - The company reported a revenue of ¥125,600,491.40, a decrease of 42.54% compared to the same period last year, primarily due to the exclusion of Yuzhi Capital from consolidation[55]. - The revenue from the ham industry increased by 8.29% year-on-year, contributing ¥106,349,398.63, which accounted for 84.67% of total revenue[59]. - The company reported a significant reduction in employee compensation payable from CNY 4,709,241.98 in December 2018 to CNY 2,010,528.07 in June 2019, a decrease of about 57.6%[176]. - The company reported a basic earnings per share of CNY 0.04 for the first half of 2019, up from CNY 0.02 in the previous year[197]. Cash Flow and Assets - The net cash flow from operating activities improved to -CNY 5,177,313.08, a 92.88% increase compared to -CNY 72,693,393.21 in the same period last year[23]. - Total assets at the end of the reporting period were CNY 1,407,580,419.96, down 5.83% from the end of the previous year[23]. - Cash and cash equivalents decreased by 13.41% to RMB 55,979,352.95, mainly due to share repurchases and raw material purchases[66]. - Total current assets decreased from CNY 1,124,557,575.55 in December 2018 to CNY 996,303,583.54 in June 2019, a decline of approximately 11.4%[173]. - Inventory increased significantly from CNY 163,971,713.12 in December 2018 to CNY 203,292,531.78 in June 2019, representing a growth of about 24%[173]. - Total liabilities decreased from CNY 116,359,271.58 in December 2018 to CNY 88,173,290.00 in June 2019, a decline of about 24.2%[179]. - Owner's equity decreased from CNY 1,378,341,043.99 in December 2018 to CNY 1,319,407,129.96 in June 2019, a decrease of approximately 4.3%[179]. Operational Strategies - The company has a raw material reserve of over 5,000 tons of pork, effectively controlling raw material costs and meeting production needs[36]. - The company is focusing on expanding its product line from primarily ham to include sausages, marinated meat, and cured meat, enhancing its product portfolio[48]. - The company has implemented a multi-channel marketing network, integrating online, offline, and new retail strategies[48]. - The company has adopted a centralized and decentralized procurement model for raw materials, ensuring efficient sourcing and cost control[35]. - The company has achieved significant production efficiency through mechanization and automation in its processing operations[35]. - The company is actively pursuing new retail and precision marketing strategies to expand its market coverage[35]. - The company plans to focus on developing sausage and marinated meat products, with a rapid expansion of new retail channels[81]. Risk Management and Compliance - The company faced various operational risks and has outlined measures to address these risks in the report[6]. - The company adheres to ISO9001, ISO22000, and ISO14001 standards to ensure food safety and quality control, implementing strict monitoring and quality assurance processes[84]. - The company emphasizes the importance of food safety and quality control in response to increasing consumer awareness and regulatory scrutiny[84]. - The company has established a comprehensive quality management system to monitor and control production processes[84]. - The company is committed to maintaining transparency and compliance with shareholder agreements and regulatory requirements[90]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company held three shareholder meetings during the reporting period, with investor participation rates of 41.32%, 23.51%, and 35.61% respectively[89]. - The company has made commitments regarding the handling of its shares and tax obligations, ensuring compliance with relevant regulations[90]. - The actual controller of the company has fulfilled their commitments as of the announcement date[107]. - The company does not have any major guarantees or significant contracts during the reporting period[127][128]. - The total number of shareholders at the end of the reporting period was 34,183[141]. Research and Development - The company’s R&D investment decreased by 81.91% to ¥1,571,648.87, mainly due to the exclusion of Yuzhi Capital from consolidation[55]. - Research and development expenses for the first half of 2019 were CNY 1,571,648.87, significantly lower than CNY 8,688,005.13 in the same period of 2018[190].

Financial Performance - The company's operating revenue for 2018 was ¥426,424,363.92, representing a 14.58% increase compared to ¥372,169,932.74 in 2017[27]. - The net profit attributable to shareholders was -¥8,429,931.88, a decrease of 107.81% from ¥107,968,071.99 in the previous year[27]. - The net cash flow from operating activities was -¥123,723,951.13, a decline of 765.16% compared to ¥18,600,741.80 in 2017[27]. - Total assets at the end of 2018 were ¥1,494,700,315.57, down 35.16% from ¥2,305,185,366.90 at the end of 2017[27]. - The basic earnings per share for 2018 was -¥0.01, a decrease of 109.09% from ¥0.11 in 2017[27]. - The weighted average return on equity was -0.56% in 2018, down from 7.46% in 2017[27]. - The company reported a significant increase in non-operating income from government subsidies, totaling ¥6,532,971.48 in 2018[33]. - The company experienced a net loss of -¥19,025,994.56 after deducting non-recurring gains and losses, compared to a loss of -¥2,615,322.19 in 2017, marking a 627.48% increase in losses[27]. - The company reported a revenue of 1.168 billion CNY for the year 2018, reflecting a year-on-year increase of 15%[161]. - The net profit attributable to shareholders was 120 million CNY, representing a growth of 10% compared to the previous year[161]. Dividend and Profit Distribution - The company reported a profit distribution plan, proposing a cash dividend of 0.00 RMB per 10 shares, with no bonus shares issued[12]. - The total cash dividend for 2018 was 73,278,507.89 CNY, which accounted for 100% of the distributable profit[140]. - The cash dividend amount in 2018 represented 869.27% of the net profit attributable to the company's ordinary shareholders[139]. - The company did not distribute cash dividends or bonus shares in 2016 and 2017, with cash dividends being 0.00 CNY for those years[139]. - The total distributable profit for 2018 was 258,231,272.50 CNY[140]. - The company has not conducted any cash distribution or bonus share issuance in the past three years[139]. - The company plans to submit the profit distribution proposal for shareholder approval[140]. - The cash dividend distribution plan is based on a share capital base of 938,467,227 shares, excluding repurchased shares[142]. Market and Product Development - The company has a strong focus on expanding its market presence and enhancing product offerings through new technologies and product development[20]. - The company plans to enhance its ham, sausage, and sauce meat product lines, launching new brands and adopting new retail and precision marketing strategies[40]. - The company aims to expand its market presence by integrating and acquiring businesses to create leading enterprises in their respective segments[47]. - The company aims to stabilize the growth of ham products while rapidly developing sausages and sauces as new growth points, alongside a focus on new retail strategies[127]. - New product development is a priority, focusing on high-value and high-quality products to meet changing consumer demands[127]. Quality Control and Safety - The company adheres to strict quality control measures, implementing ISO9001, ISO22000, and ISO14001 standards to ensure food safety and product quality[8]. - The company emphasizes the importance of food safety and quality control in response to increasing consumer awareness and regulatory scrutiny[8]. - The company has established a monitoring and quality control system to ensure key processes are closely monitored, safeguarding product quality[11]. - The company emphasizes food safety and quality control, adhering to ISO standards and implementing strict monitoring throughout the production process[128]. Operational Challenges - The company faces risks from pork price fluctuations, which directly impact raw material procurement costs, influenced by factors such as supply and demand, feed prices, and pig growth cycles[7]. - The production cycle for ham exceeds 10 months, leading to a significant proportion of inventory in current assets, which poses liquidity risks[12]. - The fluctuation of pork prices poses a risk to the company's operations, as pork is the main raw material; however, the company plans to mitigate this by optimizing procurement strategies[127]. - The company is committed to increasing product quality and profitability by optimizing inventory structure and enhancing production efficiency[127]. Subsidiaries and Investments - The company sold 51% of its stake in Zhongyu Capital, exiting the pharmaceutical and healthcare industry to focus on the meat products sector[40]. - The company operates in the health industry through Zhongyu Capital, which includes a holding business system, a medical business system centered on doctor groups, and a health industry asset management business system[41]. - The company has established a health industry ecosystem with three core platforms: controlling industrial systems, Zhongyu Doctor Group medical systems, and health industry asset management systems[51]. - The company completed the sale of 51% of its stake in Zhongyu Capital, which is no longer included in the consolidated financial statements[66]. - The company disposed of Zhongyu Capital, resulting in significant changes in major assets, including equity, fixed assets, and intangible assets[52]. Research and Development - Research and development expenses for the year amounted to 13.16 million CNY, indicating a focus on innovation and new product development[165]. - The company has adopted a "customized R&D + customized production" model for innovative drug intermediates through its subsidiary Ruiyi Technology[41]. - The company’s subsidiary, Ruiyi Technology, applied for 14 national invention patents, focusing on innovation and quality improvement[66]. - The company holds national invention patents related to the production of low-salt Jinhua ham and ham broth, showcasing its technological and process advantages[56]. Revenue and Sales Performance - The main business revenue from the ham products segment was 180.78 million yuan, while the medical health segment generated 171.13 million yuan[68]. - The ham industry generated revenue of ¥180,783,579.77, representing a 17.53% increase year-over-year, with a gross margin of 29.56%[72]. - The medical and pharmaceutical sector reported revenue of ¥171,133,197.30, a 39.78% increase from the previous year, with a gross margin of 53.61%[72]. - The company reported a significant increase in other business income, which rose by 87.70% to ¥14,989,925.09[72]. - The company experienced a 64.78% increase in manufacturing costs for ham products, totaling ¥6,159,037.32, which is 2.49% of the total operating costs[84]. Asset Management - The total assets included cash and cash equivalents of 259,954,855.00 CNY, representing 17.39% of total assets[102]. - Inventory decreased to 163,971,713.12 CNY, accounting for 10.97% of total assets, down from 183,956,804.41 CNY[102]. - Other receivables increased significantly to 667,644,111.76 CNY, making up 44.67% of total assets, primarily due to unpaid equity transfer amounts[102]. - The company reported a total investment of ¥0.00 during the reporting period, a 100% decrease from ¥168,260,000.00 in the previous year[111]. Compliance and Governance - The company confirmed compliance with share transfer restrictions for its executives, ensuring stability in management ownership[161]. - There were no significant accounting errors that required retrospective restatement during the reporting period[166]. - The company has adopted new accounting policies in line with the Ministry of Finance's guidelines, impacting the presentation of financial statements[164]. - The current accounting firm, Tianjian Accounting Firm, has been providing audit services for 11 consecutive years, with a fee of CNY 450,000[171]. - The company did not face any situations that could lead to suspension or termination of listing during the reporting period[174].

Financial Performance - The company's operating revenue for Q1 2019 was ¥93,869,926.41, a decrease of 32.30% compared to ¥138,657,790.19 in the same period last year[10] - Net profit attributable to shareholders was ¥31,879,106.91, representing an increase of 68.86% from ¥18,878,901.48 year-on-year[10] - The net profit after deducting non-recurring gains and losses was ¥31,532,347.58, up 200.20% from ¥10,503,695.26 in the previous year[10] - Basic earnings per share increased by 50.00% to ¥0.03 from ¥0.02 year-on-year[10] - The net profit attributable to the parent company increased by 68.86% to ¥31,879,106.91, driven by increased profits in the ham industry[24] - The net profit for the first half of 2019 is expected to be positive, with a year-on-year increase of over 50%[30] - The net profit attributable to shareholders for the first half of 2019 is projected to range from 40 million to 50 million CNY, representing a growth of 95.84% to 144.80% compared to 20.43 million CNY in the same period of 2018[30] - The significant performance increase is attributed to sufficient inventory, reduced costs, and increased revenue from meat products, particularly in the ham and sausage segments[30] Cash Flow - The net cash flow from operating activities was ¥25,921,793.55, a significant improvement of 176.04% compared to a negative cash flow of ¥34,087,751.49 in the same period last year[10] - Cash flow from operating activities generated ¥25,921,793.55, a turnaround from a negative cash flow of -¥34,087,751.49 in the previous year[77] - Total cash inflow from operating activities was ¥94,697,675.16, down 35.2% from ¥146,134,689.75[77] - Cash outflow from operating activities totaled ¥68,775,881.61, a decrease of 61.8% compared to ¥180,222,441.24 in the previous period[77] - Net cash flow from operating activities was CNY 42,160,330.56, compared to a negative cash flow of CNY -870,280.61 in the previous period[84] - The net increase in cash and cash equivalents was CNY -56,038,567.52, compared to an increase of CNY 19,835,360.66 in the previous period[87] - The ending balance of cash and cash equivalents was CNY 8,857,791.09, down from CNY 41,435,564.63 in the previous period[87] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,432,173,864.45, down 4.18% from ¥1,494,700,315.57 at the end of the previous year[10] - Total current assets as of March 31, 2019, amount to approximately 1.07 billion CNY, a decrease from 1.12 billion CNY at the end of 2018[43] - The total assets of the company as of March 31, 2019, are approximately 1.43 billion CNY, a decrease from 1.49 billion CNY at the end of 2018[43] - The total liabilities as of March 31, 2019, are approximately 120.11 million CNY, compared to 116.36 million CNY at the end of 2018[46] - Total liabilities increased to CNY 115,245,917.07 from CNY 70,422,700.96, representing a rise of 63.6%[59] - The company's total equity decreased to CNY 1,294,748,589.56 from CNY 1,392,425,660.14, a decline of 7.0%[59] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,873[14] - The company repurchased a total of 39,846,053 shares, accounting for 4.0729% of the total share capital, with a total payment of ¥171,409,894.81[28] Research and Development - The company reported a significant decrease in research and development expenses by 73.73% to ¥956,913.07, attributed to the exclusion of Zhongyu Capital from consolidation[21] - Research and development expenses for the current period were CNY 956,913.07, down 73.7% from CNY 3,641,914.90 in the previous period[60] Investment Activities - Investment income decreased by 100.00% to -¥4,434,304.39, mainly due to the exclusion of Zhongyu Capital from consolidation and reduced investment income[21] - Cash outflow from investment activities was CNY 98,198,898.08, with a net cash flow from investment activities of CNY -98,198,898.08, compared to CNY 70,776,328.77 in the previous period[84] Other Information - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[35] - There were no significant research, communication, or interview activities conducted during the reporting period[36] - The company did not conduct an audit for the first quarter report[89] - The company adopted new financial instrument standards starting January 1, 2019, with no retrospective adjustments to prior period comparative data[88]