Financial Performance - The company's operating revenue for 2021 was ¥2,539,560,089.66, a decrease of 4.71% compared to ¥2,665,134,436.24 in 2020[22] - The net profit attributable to shareholders in 2021 was ¥73,314,574.33, a significant increase of 122.61% from a loss of ¥324,279,930.45 in 2020[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,296,140.06, up 101.52% from a loss of ¥481,509,592.22 in the previous year[22] - The net cash flow from operating activities reached ¥246,743,802.53, representing a remarkable increase of 713.34% compared to ¥30,336,940.67 in 2020[22] - Basic earnings per share for 2021 were ¥0.07, a turnaround from a loss of ¥0.32 per share in 2020, marking a 121.88% improvement[22] - The total assets at the end of 2021 were ¥4,069,421,166.85, reflecting a slight increase of 0.87% from ¥4,034,293,142.99 at the end of 2020[22] - The weighted average return on equity was 4.78%, a significant recovery from -20.92% in 2020, indicating a 25.70% improvement[22] - The net assets attributable to shareholders of the listed company increased by 22.89% to CNY 1,785,836,479.80 from CNY 1,453,144,556.61[23] - The total operating revenue for the fourth quarter was CNY 881,491,923.14, with a total annual revenue of CNY 2,539,559,189.66[26] - The net profit attributable to shareholders for the fourth quarter was CNY 34,564,672.37, contributing to an annual net profit of CNY 73,318,574.35[26] - The cash flow from operating activities in the fourth quarter was CNY 154,918,757.64, showing a significant increase compared to previous quarters[26] Business Strategy and Market Position - The company is positioned among the top 20 enterprises in China's dairy industry, focusing on high-quality infant nutrition products[34] - The company has completed a full industry chain layout, including R&D, production, and sales, enhancing its competitive edge in the market[34] - The company is transitioning towards a new retail business model, achieving preliminary results in this strategic shift[34] - The overall consumption scale of dairy products and milk-based nutritional products continues to grow, driven by increasing health awareness among consumers[34] - The company launched several new products in 2021, including "可睿欣" infant formula and "睛彩" series nutritional products, expanding its product matrix[41] - The company’s sales through e-commerce channels reached 392.48 million yuan, representing a year-on-year increase of 6.83%[46] - The company’s flagship product "爱加" was recognized as the most popular infant formula by parenting websites in 2021, enhancing brand reputation[40] - The company is focused on developing personalized nutrition products for families, including a series of children's formula milk powders and health products[70] - The company aims to enhance brand recognition and authority through targeted marketing strategies, including collaborations with CCTV to reach consumers in lower-tier markets[99] - The focus remains on strengthening core product categories and expanding into niche markets, particularly in high-growth segments like goat milk powder and organic products[100] Research and Development - The company holds 21 invention patents and has registered 60 infant formula products, showcasing its strong R&D capabilities in the infant food sector[51] - R&D expenses increased by 113.12% year-on-year, amounting to ¥26,135,300.31, primarily due to increased investment in formula registration research[70] - The number of R&D personnel rose to 29, an increase of 11.54% from 26 in the previous year, with a notable increase in bachelor's degree holders by 85.71%[71] - The proportion of R&D investment to operating revenue increased to 1.03% from 0.46%, reflecting a significant rise of 0.57%[71] - Research and development investments increased by 30%, focusing on innovative baby nutrition products[132] Corporate Governance - The company held 7 shareholder meetings during the reporting period, ensuring equal treatment of all shareholders and facilitating their rights[108] - The board of directors convened 18 times, with 8 members including 3 independent directors, complying with legal and regulatory requirements[110] - The supervisory board met 9 times, consisting of 3 members, including 1 employee representative, fulfilling its supervisory functions over the company's financial status[111] - The company established a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal standards[114] - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, organization, and finance[117] - The company has a complete and independent financial management system, ensuring the independence of its financial operations[117] - The company has implemented a system for insider information registration, adhering to relevant regulations during the preparation of periodic reports[115] - The company continuously improves its governance structure in accordance with laws and regulations, enhancing transparency and protecting investor rights[107] Social Responsibility and Environmental Commitment - The company has established a comprehensive environmental management system, ensuring that pollutant emissions are within the prescribed limits and has not faced any environmental accidents during the reporting period[173] - The company donated 2,000 boxes of formula milk worth over 1.87 million yuan to improve local children's nutrition in Guizhou Province and provided over 1.5 million yuan worth of formula milk to flood victims in Henan Province during the reporting period[174] - The company has been actively involved in three major social welfare projects: "Love Baby," "育婴" (Child Rearing), and "亲母" (Mother Care), focusing on providing support and knowledge for the healthy growth of children[175] - The company emphasizes the importance of scientific and safe products and services in the baby and child industry, viewing this as a core social responsibility[176] Legal and Compliance Issues - The company faced disciplinary actions from the Shenzhen Stock Exchange for failing to correct significant discrepancies in its earnings reports in a timely manner[135] - The chairman and general manager, Xie Hong, along with the former financial director, Chen Bin, received a warning from the China Securities Regulatory Commission for inaccurate disclosures[133] - The company has been under scrutiny for its information disclosure practices, leading to penalties and warnings from regulatory bodies[133] - The company reported a significant discrepancy in its 2020 earnings forecast, initially predicting a net profit of between 54 million to 80 million CNY, but later revising it to a net loss of 327.68 million CNY[134] Employee Management and Performance - The total number of employees at the end of the reporting period was 1,933, with 846 in the parent company and 1,087 in major subsidiaries[154] - The company has a comprehensive training system for employees, focusing on various areas including new employee orientation and professional skills enhancement[157] - The company has established a performance bonus system linked to both individual and company performance to enhance employee satisfaction and loyalty[156] - The management team has a performance evaluation mechanism that emphasizes operational goals and includes both annual and monthly assessments[161] Related Party Transactions - The company reported a total of 8,125.3 million yuan in related party transactions for 2021, with a fair pricing principle applied[196] - The procurement of raw materials accounted for 6.22% of the total related party transactions, amounting to 22,500 million yuan[196] - The company engaged in a related party transaction with its parent company for the purchase of promotional products, totaling 1,962.3 million yuan, representing 1.50% of the same type of transactions[196] - The company’s related party transactions for labor services amounted to 60.85 million yuan, representing 0.57% of the total[197] Investment and Subsidiary Activities - The company signed a new subsidiary, Yichang Xiaoshuidi New Retail Co., Ltd., with an investment of ¥2,750,000.00, acquiring a 55% stake[65] - The company established a new subsidiary, Yichang Little Water Drop New Retail Co., Ltd., with an investment of CNY 2,750,000 and a 55% ownership stake on November 26, 2021[188] - The company transferred 52% equity of Guangxi Quanan Sheng Enterprise Management Co., Ltd. on September 28, 2021, resulting in a decrease of one consolidated entity[188] Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 25%[132] - New product launches are expected to contribute an additional 300 million RMB in revenue over the next year[132] - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2025[132]

Financial Performance - The company's revenue for Q3 2021 was ¥536,586,499.69, a decrease of 25.26% compared to the same period last year[4] - The net profit attributable to shareholders was ¥5,225,243.65, down 33.87% year-on-year[4] - Total operating revenue for the third quarter was ¥1,658,068,166.52, a decrease of 24.8% compared to ¥2,205,094,125.28 in the same period last year[26] - Net profit for the quarter was ¥43,336,196.24, a decline of 25.6% from ¥58,255,965.85 in the previous year[27] - The company's basic earnings per share remained at ¥0.01, unchanged from the previous year[4] - The company reported a basic earnings per share of ¥0.04, compared to ¥0.05 in the same quarter last year[28] Cash Flow - The net cash flow from operating activities increased by 294.54% to ¥91,825,044.89 year-to-date[4] - The net cash flow from operating activities for Q3 2021 was ¥91,825,044.89, a significant increase compared to ¥23,273,909.74 in Q3 2020, reflecting improved operational efficiency[31] - The net cash flow from financing activities decreased by 1430.93% year-on-year, with an absolute decrease of 327.01 million RMB, primarily due to an increase in the payment of bill guarantees[14] - The net increase in cash and cash equivalents decreased by 38.18% year-on-year, with an absolute decrease of 16.13 million RMB, mainly due to the reduction in net cash flow from financing activities[14] - The company reported a total cash inflow from financing activities of ¥1,337,026,441.31, compared to ¥1,534,252,307.97 in Q3 2020, indicating a decrease in financing activities[32] - Cash outflows for financing activities totaled ¥1,641,186,916.44, an increase from ¥1,511,399,012.07 in the previous year, leading to a net cash flow from financing activities of -¥304,160,475.13[32] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,140,693,087.45, reflecting a 2.64% increase from the end of the previous year[4] - The total assets increased to ¥4,140,693,087.45 from ¥4,034,293,142.99, reflecting a growth of 2.6%[24] - Total liabilities rose to ¥2,593,716,891.10, compared to ¥2,528,466,034.64, marking an increase of 2.6%[24] - The company's total non-current assets were reported at ¥1,936,707,198.58, slightly down from ¥1,954,764,618.14[24] Investments and Expenses - Research and development expenses rose by 126.05% to ¥2,442,000.00, driven by new national standards requirements[10] - Research and development expenses increased to ¥24,418,402.43, up from ¥10,802,290.38 year-on-year, indicating a focus on innovation[27] - The company’s investment income decreased by 62.49% to ¥1,900,000.00, primarily due to reduced gains from subsidiary equity transfers and fund investments[10] - The cash inflow from investment activities included ¥270,673,073.75 from other investment-related activities, a significant increase from ¥86,723,775.50 in Q3 2020[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 97,775[16] - The largest shareholder, Beiyinmei Group Co., Ltd., holds 20.75% of the shares, amounting to 212,218,500 shares, with 194,850,000 shares pledged[16] Other Financial Metrics - Other comprehensive income after tax was ¥7,892,891.76, compared to ¥1,511,491.30 in the previous year, showing significant improvement[28] - The company received tax refunds amounting to ¥13,448,373.34, compared to ¥2,423,048.33 in the previous year, indicating improved tax recovery[31] - Cash received from sales of goods and services was ¥1,540,589,297.43, down from ¥1,985,211,666.07 in the previous period[30] - Cash received from other operating activities was ¥138,912,851.74, a decrease from ¥342,750,746.61 in Q3 2020, reflecting changes in operational cash flows[31] - The company paid ¥257,753,096.63 in employee compensation, slightly down from ¥268,039,362.55 in the same quarter last year[31] Business Developments - The company plans to invest 60 million RMB in the maternal and child health service business through its subsidiary, Mamibebe[20] - The company has completed the registration change for its investment in Mamibebe, holding 48.46% of the registered capital[20] - The company has not completed the acquisition of 100% equity in Zhejiang Pucheng Investment Co., Ltd. as of the report date[19] Inventory and Receivables - Accounts receivable increased to 743,574,130.80 RMB from 642,802,698.32 RMB year-on-year[22] - Inventory as of September 30, 2021, was 541,355,513.46 RMB, slightly up from 528,260,644.48 RMB at the end of 2020[22]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,121,481,666.83, a decrease of 24.59% compared to ¥1,487,119,634.38 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥33,524,658.31, down 21.85% from ¥42,896,171.34 in the previous year[21]. - The net profit after deducting non-recurring gains and losses increased by 430.32% to ¥17,088,924.55 from ¥3,222,399.77 in the same period last year[21]. - The net cash flow from operating activities was ¥36,335,620.30, representing an increase of 108.67% compared to ¥17,413,342.10 in the previous year[21]. - Total revenue for the reporting period was approximately CNY 1,043,376,415.49, representing a year-on-year decrease of 26.47%[33]. - The company reported a total revenue of approximately 1.48 billion yuan for the first half of 2021, reflecting a year-on-year increase of 8%[69]. - The net profit attributable to shareholders for the same period was approximately 249 million yuan, a decrease of 10% compared to the previous year[69]. - The company reported a net loss of CNY 980,002,691.94 as of June 30, 2021, compared to a net loss of CNY 1,013,527,350.25 at the end of 2020, showing an improvement of approximately 3.29%[140]. - The total comprehensive income for the first half of 2021 was CNY 40,962,410.80, down from CNY 50,001,194.71 in the same period last year[148]. - The company reported a significant increase in cash inflow from financing activities, totaling CNY 508,614,625.24, compared to CNY 1,106,612,983.80 in the previous year[159]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,145,393,402.28, an increase of 2.75% from ¥4,034,293,142.99 at the end of the previous year[21]. - The company's total liabilities increased, with short-term loans rising to ¥1,327,392,141.68, accounting for 32.02% of total assets[59]. - The total liabilities as of June 30, 2021, were CNY 2,608,683,883.13, up from CNY 2,528,466,034.64, indicating an increase of approximately 3.17%[140]. - The total equity attributable to shareholders increased to CNY 1,489,566,161.07 from CNY 1,453,144,556.61, a rise of about 2.50%[140]. - The total current assets as of June 30, 2021, amounted to CNY 2,217,163,337.95, an increase from CNY 2,079,528,524.85 as of December 31, 2020, representing a growth of approximately 6.65%[137]. Earnings and Shareholder Information - The basic earnings per share decreased by 25.00% to ¥0.03 from ¥0.04 in the same period last year[21]. - The diluted earnings per share also decreased by 25.00% to ¥0.03 from ¥0.04 in the previous year[21]. - The total number of shares after the recent changes is 1,022,520,000[116]. - The company repurchased 10,766,307 shares, representing 1.05% of the total share capital[124]. - The total number of ordinary shareholders at the end of the reporting period was 108,503[122]. Research and Development - Research and development expenses increased by 124.44% to ¥15,058,142.75, indicating a significant investment in new projects[51]. - The company holds 24 invention patents and has registered 60 infant formula products, showcasing its strong R&D capabilities[44]. - The company has focused on developing precision nutrition formula products and other related services to address the declining birth rate risk[71]. - The company has invested in research and development to enhance its product capabilities and support pandemic prevention efforts[71]. Market and Product Development - The company's main business involves the research, production, and sales of infant food, with key products including infant formula, nutritional rice flour, and other complementary foods[29]. - The company launched new products such as "可睿欣" infant formula and "冠军宝贝" rice flour, focusing on precise nutrition and digestive health[31]. - The company aims to enhance its brand recognition through programs like "妈妈英雄汇" and continues to innovate in product offerings[31]. - The company is focused on expanding its market presence through new retail models and partnerships, aiming to drive business growth[49]. Cash Flow and Financial Management - The net cash flow from investing activities decreased by 186.73% to -¥32,528,885.36, mainly due to a reduction in the net amount recovered from financial products[51]. - The net cash flow from financing activities also decreased by 186.60% to -¥35,746,629.69, attributed to a decline in cash received from bill discounts compared to the previous year[51]. - The cash inflow from operating activities indicates improved operational efficiency and profitability compared to the previous year[159]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[161]. Corporate Governance and Compliance - The company has no significant equity or non-equity investments during the reporting period[64][65]. - The company has no major litigation or arbitration matters during the reporting period[91]. - The half-year financial report has not been audited[88]. - The company has established a comprehensive environmental management system, with pollutant emissions within the prescribed limits, and has not experienced any environmental accidents[81]. Social Responsibility - The company donated 2,000 boxes of formula milk (valued at over 1.87 million yuan) to help improve the nutritional health of children in Danjiang County, Guizhou Province[82].

证券代码：002570 证券简称：贝因美 公告编号：2021-047 贝因美股份有限公司 关于举行 2020 年度网上业绩说明会暨参加浙江辖区 上市公司投资者网上集体接待日活动的公告 | --- | --- | |---------------------------------------------------|------------------------------------------------------------------------| | 假记载、误导性陈述或重大遗漏。 | 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 | | 贝因美股份有限公司（以下简称"公司"） | 2020 年年度报告已于 2021 年 4 | | 月 30 | 日披露，为进一步加强公司与投资者的沟通交流，让广大投资者能进一步 | | 了解公司 2020 | 年经营情况，使广大投资者能更深入全面的了解公司未来发展战 | | 略，公司将于 2021 年 5 月 13 | 日（星期四）在"全景·路演天下"网站（ http://rs.p5w.net ） | | 举办 2020 | 年度业绩说明会。 ...

Financial Performance - The company's operating revenue for 2020 was ¥2,665,134,436.24, a decrease of 4.32% compared to ¥2,785,476,110.41 in 2019[18]. - The net profit attributable to shareholders was -¥324,279,930.45, representing a decline of 214.58% from -¥103,082,284.52 in the previous year[18]. - The total assets at the end of 2020 were ¥4,034,293,142.99, down 7.81% from ¥4,375,965,959.55 at the end of 2019[18]. - The net assets attributable to shareholders decreased by 13.92% to ¥1,453,144,556.61 from ¥1,688,037,529.45 in 2019[18]. - The basic earnings per share for 2020 was -¥0.32, a decline of 220.00% compared to -¥0.10 in 2019[18]. - The weighted average return on net assets was -20.92%, a decrease of 15.02 percentage points from -5.90% in the previous year[18]. - The company's revenue after deducting non-operating income was ¥2,543,840,251.17, compared to ¥2,609,457,313.52 in 2019[19]. - The company reported uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[18]. - The company reported a significant increase in fixed assets, which decreased to ¥1,031,245,462.24, now 25.56% of total assets, down from 32.90%, a decline of 7.34%[82]. - The company reported a significant decline in net profit, with losses reaching 69.6 million CNY in one of its subsidiaries[97]. Cash Flow and Investments - The net cash flow from operating activities improved to ¥30,336,940.67, a significant increase of 160.75% from -¥49,941,001.56 in 2019[18]. - The net cash flow from operating activities in Q2 2020 was approximately ¥14.06 million, showing an increase compared to Q1 2020[23]. - Investment cash inflow increased by 33.28% to ¥209,039,069.30, primarily due to proceeds from the disposal of subsidiary equity and recovered bank wealth management investments[78]. - Financing cash inflow rose by 31.20% to ¥2,201,597,240.61, mainly from the recovery of pledged deposits and discounted notes[78]. - The net increase in cash and cash equivalents was ¥52,166,904.63, a 114.49% increase compared to the previous year[78]. Product Development and Market Strategy - The company launched several new products in 2020, including the "Shulile" special medical purpose infant protein partially hydrolyzed formula and "Kidsclub" children's health snacks, expanding its product matrix[30]. - The company aims to enhance its operational efficiency and management structure, which is expected to lay a solid foundation for future performance growth[30]. - The infant formula market is projected to grow as demand shifts from first and second-tier cities to third and fourth-tier cities, indicating substantial potential for future expansion[30]. - The company is focusing on research and development of new nutritional products to enhance its market competitiveness[97]. - The company plans to expand its product offerings, including new infant nutrition products and beverages[98]. Operational Efficiency and Management - The company has implemented advanced management systems, including MES, WMS, and ERP, to enhance production efficiency[38]. - The company has optimized its organizational structure and implemented a flat management approach to improve operational efficiency[49]. - The company is focused on enhancing its logistics services to improve distribution efficiency and customer satisfaction[98]. - The company is committed to optimizing its distribution channels and enhancing new retail strategies to improve customer engagement and sales performance[103]. Research and Development - The company has established a complete industrial system, including a national-level infant food R&D center and a post-doctoral workstation[32]. - The company holds 23 invention patents and has registered 60 infant formula products, showcasing its strong R&D capabilities[37]. - The company is enhancing its research and development efforts by utilizing big data for precise nutrition design in infant formula[104]. - The company plans to invest in technology innovation, particularly in blockchain for food safety in maternal and infant nutrition products[104]. Shareholder and Corporate Governance - The company has not distributed cash dividends in recent years, focusing instead on stock repurchases as a means of returning value to shareholders[109]. - The company has engaged in related party transactions, including a procurement transaction with a total amount of 132,340 yuan, which was approved and settled through bank transfer[131]. - The company strictly adheres to corporate governance regulations, enhancing transparency and fairness in information disclosure[199]. - The company held its shareholder meetings in compliance with legal requirements, ensuring equal treatment of all shareholders[200]. Social Responsibility and Community Engagement - The company has actively participated in social responsibility initiatives, focusing on the health and development of infants and children since its establishment in 1992[148]. - The company has launched three major social welfare projects: "Love Baby Project," "育婴工程" (Child Rearing Project), and "亲母工程" (Mother Care Project) to support families and promote healthy growth[149]. Market Presence and Competition - The company has a significant presence in the overseas market, with investments in Ireland and Australia, totaling approximately 160.94 million yuan and 379.41 million yuan respectively[35][36]. - The company anticipates a shift in consumer preference towards domestic brands due to safety concerns regarding imported infant formula[101]. - The company aims to enhance brand recognition and authority through targeted marketing strategies, including collaborations with CCTV[102]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of 300 million RMB allocated for this purpose[186].

Financial Performance - The company's revenue for Q1 2021 was ¥566,858,555.71, a decrease of 20.59% compared to ¥713,805,176.65 in the same period last year[9] - Net profit attributable to shareholders was ¥14,537,381.04, representing an increase of 12.23% from ¥12,953,651.28 year-on-year[9] - The net profit after deducting non-recurring gains and losses surged by 297.92% to ¥4,235,790.79, compared to ¥1,064,471.91 in the previous year[9] - The company reported a net loss of CNY 998,989,969.21, slightly improved from a loss of CNY 1,013,527,350.25 in the previous period[36] - Net profit for the first quarter reached CNY 18,810,095.29, compared to CNY 15,575,643.94 in the same period last year, representing a growth of about 20.00%[43] - The profit attributable to shareholders of the parent company was CNY 14,537,381.04, up from CNY 12,953,651.28, indicating an increase of approximately 12.23%[43] - The company reported a total comprehensive income of CNY 17,790,643.60, down from CNY 30,216,294.82 in the previous year[44] Cash Flow - The net cash flow from operating activities increased significantly by 544.56% to ¥21,588,202.87, up from ¥3,349,282.25 in the same period last year[9] - The net cash flow from operating activities for the current period is CNY 21,588,202.87, compared to CNY 3,349,282.25 in the previous period, indicating a significant improvement[51] - Total cash inflow from operating activities is CNY 631,773,462.88, down from CNY 809,599,057.28 in the previous period, reflecting a decrease of approximately 22%[51] - Cash inflow from sales of goods and services is CNY 514,976,941.58, down from CNY 690,252,945.76, indicating a decline of approximately 26%[54] - The net cash flow from operating activities for the current period is CNY 236,819,266.31, a decrease from CNY 619,374,605.07 in the previous period, showing a decline of about 62%[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,141,897,181.00, reflecting a growth of 2.67% from ¥4,034,293,142.99 at the end of the previous year[9] - The net assets attributable to shareholders increased by 0.93% to ¥1,466,662,485.96, compared to ¥1,453,144,556.61 at the end of the previous year[9] - Total liabilities increased from CNY 2,528,466,034.64 to CNY 2,618,279,429.05, an increase of about 3.9%[35] - Current liabilities increased to CNY 2,453,840,982.88 from CNY 2,362,469,500.73, representing a growth of about 3.86%[35] - The company's total equity rose to CNY 1,523,617,751.95 from CNY 1,505,827,108.35, reflecting an increase of approximately 1.18%[36] Shareholder Information - The company had a total of 63,650 common shareholders at the end of the reporting period[13] - The largest shareholder, Beiyinmei Group Co., Ltd., held 20.75% of the shares, amounting to 212,218,500 shares, with 192,850,000 shares pledged[13] Expenses and Investments - Financial expenses decreased by 70.57% compared to the same period last year, a reduction of 38.65 million RMB, mainly due to a decrease in exchange losses[18] - Investment income decreased by 66.68% compared to the same period last year, a reduction of 5.57 million RMB, mainly due to lower returns from fund investments[18] - Research and development expenses rose to CNY 4,754,671.25, compared to CNY 2,639,629.91, marking an increase of about 80.00%[42] Other Financial Metrics - The weighted average return on net assets was 1.00%, up from 0.76% in the same period last year, indicating improved profitability[9] - The company experienced a credit impairment loss of CNY -6,674,903.01, a significant improvement from CNY 14,927,434.29 in the previous period[42] - The company's tax expenses decreased to CNY 1,112,795.20 from CNY 3,745,561.94, reflecting a reduction of approximately 70.32%[43] - The company reported a significant increase in tax refunds received, up 131.42% compared to the same period last year, an increase of 1.80 million RMB[18] Changes in Receivables and Payables - Accounts receivable financing decreased by 33.65% compared to the beginning of the period, a reduction of 12.5 million RMB, mainly due to a decrease in notes receivable[17] - Prepayments increased by 408.53% compared to the beginning of the period, an increase of 73.36 million RMB, primarily due to an increase in advance payments for goods[17] - Other receivables increased by 35.18% compared to the beginning of the period, an increase of 6.46 million RMB, mainly due to an increase in temporary payments receivable[17] Cash Flow from Investment Activities - Cash flow from investment activities decreased by 98.75% compared to the same period last year, a reduction of 83.40 million RMB, mainly due to a decrease in bank wealth management investments recovered[19] - The cash flow from investing activities shows a net outflow of CNY 35,130,372.28, a decrease from a net inflow of CNY 62,604,648.40 in the previous period[51] Future Plans - The company plans to participate in the establishment of a new insurance company with a registered capital of 1.5 billion RMB, contributing 225 million RMB[21]

贝因美股份有限公司 2020 年第三季度报告全文 贝因美股份有限公司 2020 年第三季度报告 2020 年 10 月 1 贝因美股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，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。 公司负责人谢宏、主管会计工作负责人陈滨及会计机构负责人（会计主管 人员）廖银菊声明：保证季度报告中财务报表的真实、准确、完整。 2 贝因美股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 4,447,854,998.35 | 4,375,965,959.55 | | 1.64% | | 归属于上市公司股东的净资产 | 1,816,632,577.68 | 1,688,03 ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,487,119,634.38, representing a 14.78% increase compared to ¥1,295,630,900.48 in the same period last year[16]. - The net profit attributable to shareholders of the listed company reached ¥42,896,171.34, a significant turnaround from a loss of ¥121,782,179.32 in the previous year, marking a 135.22% improvement[16]. - The net cash flow from operating activities was ¥17,413,342.10, compared to a negative cash flow of ¥100,925,227.44 in the same period last year, reflecting a 117.25% increase[16]. - Basic earnings per share improved to ¥0.04 from a loss of ¥0.12, indicating a 133.33% increase[16]. - Total assets at the end of the reporting period were ¥4,681,684,072.75, up 6.99% from ¥4,375,965,959.55 at the end of the previous year[16]. - The net assets attributable to shareholders of the listed company increased by 3.79% to ¥1,751,989,173.79 from ¥1,688,037,529.45 at the end of the previous year[16]. - The weighted average return on net assets improved to 2.49%, a 9.43% increase from -6.94% in the previous year[16]. - The company reported a significant reduction in non-recurring losses, with total non-recurring gains amounting to ¥39,673,771.57 after tax adjustments[21]. Market Strategy and Product Development - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[5]. - The company primarily engages in the research, production, and sales of infant food, including infant formula, nutritional rice flour, and other complementary foods, with a focus on continuous product development to meet consumer needs[24]. - The demand for infant formula is shifting from first and second-tier cities to third and fourth-tier cities and towns, indicating significant growth potential in these areas[26]. - The company emphasizes brand investment and has developed a comprehensive solution for new parents, enhancing customer loyalty and brand strength[33]. - The company is focusing on digital retail platforms and leveraging social media marketing to create a closed-loop consumer marketing system[33]. - The company plans to continuously develop new products that meet Chinese consumer demands and expand its market presence[67]. Operational Efficiency - The company has established a strategic procurement management method, categorizing materials into four types, with key materials being centrally procured to enhance operational efficiency[25]. - The company has established advanced management systems, including MES, WMS, and ERP, to improve production accuracy and responsiveness to market demands[32]. - The company optimized its organizational structure, implementing a flat management approach to enhance operational efficiency[42]. - The company focused on enhancing single-store efficiency through targeted management and promotional strategies[38]. Financial Stability and Investments - The company has no significant changes in major assets, indicating stability in its financial position[30]. - The company’s overseas investments include a production facility in Ireland and an investment in Australia, contributing to its international presence[31]. - The company reported a significant increase in accounts receivable, which rose to ¥902,544,104.51, an increase of 2.35% from the previous year[51]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[85]. - The total approved guarantee amount for subsidiaries during the reporting period was RMB 115 million, with actual guarantees amounting to RMB 26.38 million, representing 1.14% of the company's net assets[94]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The second employee stock ownership plan involves a total of 20,101,239 shares repurchased at a price of 4.7 yuan per share[79]. - The second employee stock ownership plan accounts for 1.72% of the company's total share capital[80]. - The total number of ordinary shareholders at the end of the reporting period was 50,862[110]. - Beiyinmei Group Limited holds 27.13% of the shares, having reduced its holdings by 20,400,000 shares during the reporting period[110]. - Fonterra Co-operative Group Limited holds 10.82% of the shares, having reduced its holdings by 58,432,324 shares during the reporting period[110]. Risk Management - The company faces risks related to rising operating costs influenced by factors such as loan costs, natural disasters, inflation, raw material prices, labor costs, and exchange rate fluctuations[68]. - The company aims to strengthen risk prevention and response capabilities through refined management and cost control across the supply chain[68]. Compliance and Governance - The company reported no significant litigation or arbitration matters during the reporting period[77]. - The company has not experienced any penalties or rectification issues during the reporting period[78]. - The financial report for the first half of 2020 was not audited[128]. - The company confirms that it has no significant issues affecting its ongoing operations, ensuring stability in its financial reporting[168]. Accounting Policies and Financial Instruments - The accounting policies adhere to the requirements of enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[170]. - The company measures financial assets at fair value, with changes recognized in other comprehensive income, and dividends received (excluding those that are part of the investment cost recovery) are recorded in current profit or loss[183]. - The company applies expected credit loss model for impairment measurement of financial instruments, including those measured at amortized cost and debt instruments measured at fair value[186]. - Financial liabilities are measured at amortized cost using the effective interest method, with gains or losses recognized upon derecognition[184].

证券代码：002570 证券简称：贝因美 公告编号：2020-044 贝因美股份有限公司 关于举行 2019 年度网上业绩说明会暨参加浙江辖区 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 \n假记载、误导性陈述或重大遗漏。 | | | | 贝因美股份有限公司（以下简称"公司"） 2019 年年度报告已于 | | 月 28 日公告，为进一步加强与投资者的沟通交流，让广大投资者能进一步了解 | | 公司 2019 年年度报告和经营情况，使广大投资者能更深入全面的了解公司发展 | | 情况，公司将于 2020 年 5 月 15 日（星期五）在"全景·路演天下"网站 | | （ http://rs.p5w.net ）举办 2019 年度业绩说明会。同时，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 ...

Revenue and Profit - The company's revenue for Q1 2020 was ¥713,805,176.65, representing a 12.79% increase compared to ¥632,860,282.09 in the same period last year[9]. - Net profit attributable to shareholders was ¥12,953,651.28, a significant increase of 45.24% from ¥8,918,654.34 year-on-year[9]. - Operating profit increased by 96.1% compared to the same period last year, with an absolute increase of 9.81 million RMB, mainly due to increased sales revenue[19]. - Net profit increased by 65.74% compared to the same period last year, with an absolute increase of 6.18 million RMB, mainly due to increased sales revenue[19]. - The net profit for Q1 2020 was CNY 15.58 million, compared to a profit of CNY 8.65 million in Q1 2019, representing an increase of 80.5%[51]. - The total comprehensive income for Q1 2020 was CNY 30,216,294.82, compared to CNY 8,888,226.32 in Q1 2019, marking an increase of about 239%[52]. Cash Flow and Financial Position - The net cash flow from operating activities improved to ¥3,349,282.25, a turnaround from a negative cash flow of ¥53,412,578.07 in the same period last year, marking a 106.27% increase[9]. - Cash flow from operating activities increased by 106.27% compared to the same period last year, with an absolute increase of 5.68 million RMB, mainly due to a decrease in taxes paid[22]. - Cash and cash equivalents increased by 142.71% compared to the same period last year, with an absolute increase of 227.24 million RMB, due to increases in cash flows from operating, investing, and financing activities[24]. - The company reported a significant increase in cash inflow from operating activities, totaling CNY 809,599,057.28, slightly down from CNY 814,362,322.66 in the previous year[58]. - The total cash inflow from financing activities was CNY 912,399,287.69, compared to CNY 381,890,000.00 in Q1 2019, indicating a substantial increase of approximately 138%[58]. - The net cash flow from financing activities was CNY -368,169,100.25, compared to CNY -110,003,979.16 in the same period last year[62]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥4,939,535,978.18, up 12.88% from ¥4,375,965,959.55 at the end of the previous year[9]. - The total liabilities increased to CNY 2.66 billion from CNY 1.67 billion, indicating a significant rise of about 59.9%[42]. - The total liabilities increased to CNY 3.25 billion in Q1 2020 from CNY 2.61 billion in Q4 2019, marking a rise of 24.6%[48]. - The company’s total equity attributable to shareholders was CNY 1,688,037,529.45, reflecting a stable equity structure[66]. - The company reported a total asset value of CNY 4,375,965,959.55 as of the end of the reporting period[66]. - The company’s long-term equity investments rose slightly to CNY 94.10 million from CNY 92.44 million, indicating a growth of about 1.8%[42]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 51,715[12]. - The largest shareholder, Beiyinmei Group Co., Ltd., held 28.15% of the shares, amounting to 287,852,890 shares[13]. - The company repurchased a total of 8,286,307 shares, accounting for approximately 0.81% of the total share capital, with a total transaction amount of CNY 46.01 million[30]. Other Financial Metrics - The weighted average return on equity was 0.76%, an increase of 0.27% from 0.49% in the previous year[9]. - Financial expenses increased by 1015.29% compared to the same period last year, with an absolute increase of 60.75 million RMB, mainly due to increased exchange losses[19]. - Investment income increased by 7874.33% compared to the same period last year, with an absolute increase of 8.25 million RMB, mainly due to increased returns from fund investments[19]. - The company’s R&D expenses for Q1 2020 were CNY 2.64 million, slightly down from CNY 2.79 million in Q1 2019, indicating a decrease of 5.1%[51]. - The first quarter report was not audited, which may affect the reliability of the financial data presented[69].