广东燕塘乳业股份有限公司 2018 年半年度报告全文 广东燕塘乳业股份有限公司 2018 年半年度报告 2018-031 2018 年 08 月 1 广东燕塘乳业股份有限公司 2018 年半年度报告全文 本报告涉及的有关未来计划、发展战略等前瞻性陈述，不代表公司的盈利 预测，亦不构成公司对投资者的实质承诺。投资者及相关人士应当理解"计划"、 "预测"与"承诺"之间的差异，树立必要的风险意识，审慎决策，理性投资。 公司当前面临的主要风险及应对措施，详见本报告"第四节 经营情况讨论 与分析"之"十 公司面临的风险和应对措施"部分，请投资者移目关注。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 目录 | | --- | | 第一节 重要提示、目录和释义 2 | | --- | | 第二节 公司简介和主要财务指标 5 | | 第三节 公司业务概要 8 | | 第四节 经营情况讨论与分析 13 | | 第五节 重要事项 22 | | 第六节 股份变动及股东情况 30 | | 第七节 优先股相关情况 34 | | 第八节 董事、监事、高级管理人员情况 35 | | 第九节 公司债相关情况 36 | | ...

Financial Performance - The company's revenue for Q1 2018 was CNY 258,553,561.85, representing a 9.14% increase compared to CNY 236,910,392.09 in the same period last year[8] - Net profit attributable to shareholders decreased by 21.02% to CNY 9,505,600.87 from CNY 12,036,028.47 year-on-year[8] - Basic and diluted earnings per share both decreased by 25.00% to CNY 0.06 from CNY 0.08 in the same period last year[8] - The company expects net profit attributable to shareholders for the first half of 2018 to range from 36.13 million to 66.23 million yuan, reflecting a year-on-year change of -40.00% to 10.00%[23] Cash Flow - The net cash flow from operating activities was negative CNY 22,704,538.80, a significant decline of 2,917.60% compared to CNY 805,812.13 in the previous year[8] - Net cash flow from operating activities decreased by 23.51 million yuan, mainly due to increased procurement and employee compensation expenses[18] - Cash received from investments decreased by 25 million yuan, as there were no related transactions during the reporting period[18] Assets and Liabilities - Total assets increased by 1.53% to CNY 1,355,613,344.95 compared to CNY 1,335,249,637.28 at the end of the previous year[8] - Accounts receivable grew by 45.35% compared to the end of the previous year, primarily due to seasonal sales fluctuations[15] - Interest receivable increased by 192.92%, reflecting an increase in interest from fixed deposits[15] - Long-term prepaid expenses rose by 222.69%, mainly due to increased decoration project costs[15] - Other non-current assets increased by 134.65%, attributed to prepayments for equipment and project costs related to the construction of the engineering center and a new dairy farm[15] - Short-term borrowings increased by 18.3 million yuan, primarily due to an increase in working capital loans during the reporting period[16] - Prepayments grew by 46.09% compared to the end of the previous year, mainly due to an increase in advance payments received[16] - The increase in long-term borrowings and short-term borrowings was 60.60% during the reporting period, primarily for the construction of the new dairy farm project[19] Expenses - Management expenses rose by 33.71% year-on-year, mainly due to depreciation from new office buildings and related facilities at the Yanlong new factory project[17] - Financial expenses increased by 1.0367 million yuan, primarily due to interest from long-term borrowings for the Yanlong new factory project[17] - Asset impairment losses increased by 837.13%, with an increase of 1.3945 million yuan due to higher provisions for bad debts[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,261[11] - The company has not encountered any violations regarding external guarantees during the reporting period[24]

Financial Performance - The company's operating revenue for 2017 was ¥1,239,219,232.57, representing a 12.58% increase compared to ¥1,100,742,577.46 in 2016[16] - The net profit attributable to shareholders for 2017 was ¥120,767,767.36, up 13.84% from ¥106,087,416.38 in 2016[16] - The net cash flow from operating activities increased by 24.44% to ¥168,395,873.34 in 2017, compared to ¥135,327,526.90 in 2016[16] - Basic earnings per share for 2017 were ¥0.77, a 14.93% increase from ¥0.67 in 2016[16] - Total assets at the end of 2017 reached ¥1,335,249,637.28, reflecting a 15.91% increase from ¥1,151,924,690.56 at the end of 2016[16] - The net assets attributable to shareholders increased by 11.40% to ¥949,375,217.77 at the end of 2017, compared to ¥852,209,950.41 at the end of 2016[16] - The company reported a weighted average return on equity of 13.44% for 2017, slightly up from 13.06% in 2016[16] - The net profit after deducting non-recurring gains and losses was ¥112,319,063.34, a 9.63% increase from ¥102,456,602.13 in 2016[16] Dividend Distribution - The company plans to distribute a cash dividend of ¥6.00 per 10 shares, based on a total of 157,350,000 shares[5] - In 2017, the cash dividend payout ratio was 78.17% of the net profit attributable to shareholders, which was 120.77 million yuan[103] - The company's total distributable profits for 2017 were approximately 386.74 million yuan, with cash dividends representing 100% of the profit distribution[104] - The company has not proposed any capital reserve transfer to increase share capital or stock dividends for 2017[99] Market and Product Development - The company plans to expand its marketing channels and product offerings to enhance competitive advantages and improve operational performance[28] - The company has focused on upgrading its entire industry chain and enhancing product structure and marketing strategies to achieve revenue and profit growth[27] - The company has developed a differentiated product strategy, launching a series of health-oriented dairy products since 2005, including a range of nourishing products[40] - The company plans to enhance its market share and brand influence by expanding into new markets and channels, including vending machines and convenience stores[90] - New product development includes the launch of a premium yogurt line, expected to contribute an additional CNY 100 million in revenue in 2018[107] Operational Efficiency - The company has established a comprehensive cold chain distribution system, one of the largest in Guangdong and South China, with nearly 200 refrigerated transport vehicles[41] - The company has a strong product development capability, with nearly 100 product varieties and a commitment to continuous innovation in product offerings[43] - The company has implemented a circular economy model in its own farms, enhancing milk production and quality, with significant improvements in the output of dairy cows[46] - The company is investing CNY 50 million in technology upgrades to enhance production efficiency by 30%[108] Risk Management - The company has outlined future risks and countermeasures in its report, emphasizing the importance of risk awareness for investors[5] - The company recognizes risks from global dairy market fluctuations, including rising costs and potential supply chain disruptions due to disease outbreaks in cattle[92] - The company faces competition risks as major national brands may acquire local dairy companies, increasing market pressure on regional players[92] - The company emphasizes strict quality control measures throughout its production process to mitigate product quality risks and maintain consumer trust[93] Environmental and Social Responsibility - The company has been recognized as an "Ecological Guangdong Construction Public Welfare Unit" for its efforts in promoting green production[144] - The company has established a love fund to support employees in need, with contributions from management and staff, enhancing internal solidarity[144] - The company actively participated in community service activities, including a youth anti-drug campaign that attracted over a thousand participants[142] - The company is committed to sustainable practices, with plans to reduce carbon emissions by 15% over the next three years[108] Corporate Governance - The company has established a governance structure that includes a board of directors with 9 members, including 3 independent directors[197] - The company has a supervisory board consisting of 3 supervisors, ensuring oversight of the board and management's performance[198] - The company maintains strict independence from its controlling shareholder, ensuring autonomous operations and decision-making capabilities[200] - The company adheres to relevant laws and regulations regarding corporate governance and operations[200] Future Outlook - The company anticipates a significant increase in demand for dairy products in the coming years, providing a favorable market outlook for new capacity[6] - The company has set a performance guidance for 2018, aiming for a revenue target of CNY 1.5 billion, reflecting a growth rate of 25%[108] - The company plans to balance growth and structural adjustments while focusing on innovation and market expansion in the dairy industry[50]

广东燕塘乳业股份有限公司 2017 年第三季度报告正文 证券代码：002732 证券简称：燕塘乳业 公告编号：2017-048 广东燕塘乳业股份有限公司 2017 年第三季度报告正文 1 广东燕塘乳业股份有限公司 2017 年第三季度报告正文 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。 公司负责人黄宣、主管会计工作负责人邵侠及会计机构负责人(会计主管人 员)曹翔声明：保证季度报告中财务报表的真实、准确、完整。 2 广东燕塘乳业股份有限公司 2017 年第三季度报告正文 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） | 1,228,097,369.52 | | 1,151,924,690.56 | 6.61% | | 归属于上市 ...

广东燕塘乳业股份有限公司 2017 年半年度报告全文 2017 年 08 月 广东燕塘乳业股份有限公司 1 2017 年半年度报告 广东燕塘乳业股份有限公司 2017 年半年度报告全文 2017-033 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 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。 公司负责人黄宣、主管会计工作负责人邵侠及会计机构负责人(会计主管人 员)曹翔声明：保证本半年度报告中财务报告的真实、准确、完整。 除下列董事外，其他董事亲自出席了审议本次半年报的董事会会议 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | 被委托人姓名 | | --- | --- | --- | --- | | 戴锦辉 | 独立董事 | 因公出差 | 李瑮蛟 | | 冯立科 | 董事 | 因公出差 | 邵侠 | 本报告涉及的有关未来计划、发展战略等前瞻性描述，不代表公司的盈利 预测，亦不构成公司对投资者的实质承诺。投资者及相关人士应当理解"计划"、 "预测"与"承诺"之间的差异，树立必要的风险意识，审慎 ...

广东燕塘乳业股份有限公司 2017 年第一季度报告正文 证券代码：002732 证券简称：燕塘乳业 公告编号：2017-021 广东燕塘乳业股份有限公司 2017 年第一季度报告正文 1 广东燕塘乳业股份有限公司 2017 年第一季度报告正文 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。 公司负责人黄宣、主管会计工作负责人邵侠及会计机构负责人(会计主管人 员)曹翔声明：保证季度报告中财务报表的真实、准确、完整。 2 广东燕塘乳业股份有限公司 2017 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 236,910,392.09 | 185,312,437.45 | 27.84% | | 归属于上市 ...

广东燕塘乳业股份有限公司 2016 年年度报告全文 广东燕塘乳业股份有限公司 2016 年年度报告 2017-011 2017 年 02 月 1 广东燕塘乳业股份有限公司 2016 年年度报告全文 第一节 重要提示、目录和释义 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的 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。 公司负责人黄宣、主管会计工作负责人邵侠及会计机构负责人(会计主管人 员)曹翔声明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告涉及的有关未来计划、发展战略等前瞻性描述，不代表公司的盈利 预测，亦不构成公司对投资者的实质承诺。投资者及相关人士应当理解"计划"、 "预测"与"承诺"之间的差异，树立必要的风险意识，审慎决策，理性投资。 公司在本报告"第四节 管理层讨论与分析"之"九 公司未来发展的展望"部 分详细描述了未来将面临的主要风险及应对措施，请投资者移目关注。 公司经本次董事会审议通过的利润分配预案为：以 157,350,000 为基数，向 全体股东每 10 股派发现金红利 1.50 ...

2016 年第三季度报告正文 1 广东燕塘乳业股份有限公司 2016 年第三季度报告正文 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。 公司负责人黄宣、主管会计工作负责人邵侠及会计机构负责人(会计主管人 员)曹翔声明：保证季度报告中财务报表的真实、准确、完整。 广东燕塘乳业股份有限公司 2016 年第三季度报告正文 证券代码：002732 证券简称：燕塘乳业 公告编号：2016-049 广东燕塘乳业股份有限公司 2 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 谢勇 董事 工作安排 黄宣 欧永良 独立董事 工作安排 吴震 广东燕塘乳业股份有限公司 2016 年第三季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等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 | | --- ...

广东燕塘乳业股份有限公司 2016 年半年度报告全文 广东燕塘乳业股份有限公司 2016 年半年度报告 2016-035 2016 年 07 月 1 广东燕塘乳业股份有限公司 2016 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 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。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 公司负责人黄宣、主管会计工作负责人邵侠及会计机构负责人(会计主管人 员)曹翔声明：保证本半年度报告中财务报告的真实、准确、完整。 本报告涉及的有关未来计划、发展战略等前瞻性描述，不代表公司的盈利 预测，亦不构成公司对投资者的实质承诺。投资者及相关人士应当理解"计划"、 "预测"与"承诺"之间的差异，树立必要的风险意识，审慎决策，理性投资。 公司未来将面临的主要风险及应对措施未发生重大变化，详见公司《2015 年年度报告》"第四节 管理层讨论与分析"之"九、公司未来发展的展望"部分， 请投资者注意投资风险。 2 除下列董事外，其他董事亲自出席了审议本次半年报的董事会会议 未亲 ...

广东燕塘乳业股份有限公司 2016 年第一季度报告正文 证券代码：002732 证券简称：燕塘乳业 公告编号：2016-022 广东燕塘乳业股份有限公司 2016 年第一季度报告正文 1 广东燕塘乳业股份有限公司 2016 年第一季度报告正文 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。 公司负责人黄宣、主管会计工作负责人邵侠及会计机构负责人(会计主管人 员)曹翔声明：保证季度报告中财务报表的真实、准确、完整。 2 广东燕塘乳业股份有限公司 2016 年第一季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 185,312,437.45 | 185,781,057.64 | -0.25% | | ...