道道全粮油股份有限公司 2021 年第三季度报告 证券代码：002852 证券简称：道道全 公告编号：2021-068 道道全粮油股份有限公司 2021 年第三季度报告 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。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度 报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 1,460,495,102.95 | -4.02% | 3,576,916,485.94 | -6.19 ...

Group 1: Event Details - The company will participate in the "2021 Hunan Listed Companies Investor Online Reception Day" organized by the China Securities Regulatory Commission Hunan Supervision Bureau [1] - The event will be held online through the platform provided by Shenzhen Panorama Network Co., Ltd. [1] - The event is scheduled for September 24, 2021, from 15:00 to 17:00 [1] Group 2: Participation Information - Investors can access the event via the "Panorama Roadshow" website (http://rs.p5w.net/) [1] - The company encourages widespread participation from investors [1] Group 3: Company Assurance - The company and its board guarantee that the information disclosed is true, accurate, and complete, with no false records or misleading statements [1]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,116,421,382.99, a decrease of 7.62% compared to CNY 2,291,087,705.08 in the same period last year[19]. - Net profit attributable to shareholders increased by 22.79% to CNY 125,110,371.53, up from CNY 101,888,431.92 in the previous year[19]. - The total profit for the period was CNY 123.86 million, down 4.56% year-on-year[28]. - The net profit attributable to shareholders increased by 22.79% to CNY 125.11 million, primarily due to price adjustments and reduced sales expenses[28]. - The net profit after deducting non-recurring gains and losses was CNY 72,404,402.65, a decrease of 12.95% from CNY 83,174,253.42 in the same period last year[19]. - The company reported a net profit of 31,315,906.0 yuan for the period, with a significant contribution from its subsidiary, Daodaoquan Grain Oil Yueyang Co., Ltd., which generated an operating income of 1,329,832,000 yuan[65]. - The company reported a significant increase in fair value changes, with gains of CNY 40,011,220.00 compared to CNY 6,010,634.80 in the prior year[149]. - The company reported a significant increase in cash received from other operating activities, totaling 2,474,813,642.16 CNY, compared to 2,757,282,808.15 CNY in the previous year, a decrease of about 10.3%[160]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -36,267,165.81, a decline of 201.27% compared to CNY 35,812,965.68 in the same period last year[19]. - The company's cash flow from operating activities showed a significant decline of 201.27%, resulting in a net outflow of ¥36,267,165.81[42]. - The net cash flow from operating activities for the first half of 2021 was -180,160,115.10 CNY, compared to 126,592,357.06 CNY in the same period of 2020, indicating a significant decline[160]. - The ending balance of cash and cash equivalents was 103,092,407.45 CNY, down from 194,100,083.81 CNY at the end of the first half of 2020, indicating a decrease of approximately 46.9%[159]. - The company's cash and cash equivalents decreased to CNY 103.09 million, accounting for 2.81% of total assets, a decrease of 8.23% year-on-year[53]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,671,313,950.17, an increase of 6.17% from CNY 3,457,936,124.56 at the end of the previous year[19]. - The company's total assets at the end of the reporting period amounted to 713 million RMB, with a year-on-year growth of 63.9%[166]. - Total liabilities reached CNY 1,680,335,541.96, compared to CNY 1,572,162,761.10, showing an increase of approximately 6.9%[141]. - The total liabilities at the end of the reporting period were 1,494.69 million, indicating a stable financial position[177]. - The company's inventory increased to CNY 1.16 billion, representing 31.47% of total assets, an increase of 6.16% compared to the end of the previous year[53]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has established a profit distribution policy, committing to distribute at least 20% of the annual distributable profits in cash to shareholders[87]. - The company has a three-year shareholder dividend return plan, considering industry characteristics and operational factors for cash dividend ratios[87]. - The total number of ordinary shareholders at the end of the reporting period was 20,045[125]. - Liu Jianjun holds 29.71% of the shares, totaling 85,853,138 shares, with a decrease of 64,389 shares during the reporting period[125]. Market and Product Strategy - The company is focusing on launching new products such as high oleic rapeseed oil and tea oil to enhance its product range and competitiveness[30]. - The company aims to leverage its brand strength and market position to expand its main business and enhance competitiveness in the industry[29]. - The company plans to expand its market presence beyond the Yangtze River region into other areas such as Northwest, South China, and North China[40]. - The company is exploring potential mergers and acquisitions to strengthen its market position[165]. - The company plans to expand its market presence and enhance product offerings in the upcoming quarters[165]. Research and Development - The company’s R&D investment decreased by 12.96% to ¥2,138,409.84 compared to ¥2,456,754.54 in the previous year[42]. - Research and development expenses were CNY 2,138,409.84, slightly down from CNY 2,456,754.54 in the first half of 2020[148]. - Research and development efforts are focused on new product innovations to meet consumer demand[165]. - The company aims to enhance its operational efficiency by implementing new technologies and optimizing supply chain management[170]. Environmental and Social Responsibility - The company has established a comprehensive emergency response plan for environmental incidents, with regular drills and training conducted[81]. - The company actively engages in social responsibility initiatives, including support for education and assistance for disadvantaged groups[85]. - The company emphasizes the protection of shareholder and creditor rights, ensuring fair treatment and compliance with corporate governance standards[85]. - The company has a clear commitment to environmental protection as part of its sustainable development strategy[89]. Governance and Compliance - The company has maintained its governance structure without changes in its board or management during the reporting period, ensuring continuity in leadership[74]. - The company has not engaged in any significant related party transactions during the reporting period, maintaining financial integrity[100]. - The financial report for the first half of 2021 was not audited[137]. - The company follows the latest accounting standards issued by the Ministry of Finance, ensuring accurate financial reporting[188].

Part I Important Notice The Board, Supervisory Board, and senior management affirm the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility [Important Notice](index=2&type=section&id=Important%20Notice) The Board, Supervisory Board, and senior management affirm the quarterly report's truthfulness, accuracy, and completeness, assuming legal responsibility - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility[4](index=4&type=chunk) - All directors attended the Board of Directors meeting to review this quarterly report[5](index=5&type=chunk) - Company head Liu Jianjun, chief financial officer Deng Kai, and head of accounting department Chen Jun declare that the financial statements in the quarterly report are true, accurate, and complete[5](index=5&type=chunk) Part II Company Profile This section details the company's key financial performance, shareholder structure, and related party relationships for the reporting period [I. Key Accounting Data and Financial Indicators](index=3&type=section&id=I.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) The company's Q1 2021 showed strong financial performance with significant revenue and net profit growth, positive operating cash flow, and improved profitability Key Accounting Data and Financial Indicators for Q1 2021 | Indicator | Current Period (Yuan) | Prior Year Same Period (Yuan) | YoY Change (%) | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change from Prior Year-End (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,299,370,529.73 | 969,803,956.38 | 33.98% | - | - | - | | Net Profit Attributable to Shareholders of Listed Company | 81,630,459.36 | 41,795,410.59 | 95.31% | - | - | - | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 68,728,162.19 | 26,636,988.78 | 158.02% | - | - | - | | Net Cash Flow from Operating Activities | 31,946,267.53 | -122,952,459.38 | 125.98% | - | - | - | | Basic Earnings Per Share (Yuan/share) | 0.30 | 0.15 | 100.00% | - | - | - | | Diluted Earnings Per Share (Yuan/share) | 0.30 | 0.15 | 100.00% | - | - | - | | Weighted Average Return on Net Assets | 4.38% | 2.10% | 2.28% | - | - | - | | Total Assets | - | - | - | 3,525,079,198.88 | 3,457,936,124.56 | 1.94% | | Net Assets Attributable to Shareholders of Listed Company | - | - | - | 1,904,449,420.49 | 1,824,434,689.05 | 4.39% | Non-Recurring Gains and Losses Items and Amounts | Item | Amount from Year Start to End of Reporting Period (Yuan) | | :--- | :--- | | Government Subsidies Included in Current Period P&L | 4,704,733.91 | | Fair Value Change Gains/Losses and Investment Income from Trading Financial Assets, Derivative Financial Assets, etc., excluding effective hedge accounting related to normal business operations | 8,655,224.32 | | Other Non-Operating Income and Expenses excluding the above | 360,840.59 | | Less: Income Tax Impact | 672,248.29 | | Impact on Minority Interests (After Tax) | 146,253.36 | | **Total** | **12,902,297.17** | [II. Total Number of Shareholders and Top Ten Shareholders' Holdings at Period End](index=4&type=section&id=II.%20Total%20Number%20of%20Shareholders%20and%20Top%20Ten%20Shareholders'%20Holdings%20at%20Period%20End) As of the period end, the company had 22,757 common shareholders, with Liu Jianjun as the largest shareholder (29.71%) and associated entities - The total number of common shareholders at the end of the reporting period was **22,757**[12](index=12&type=chunk) Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | Pledge or Freeze Status (Share Status/Quantity) | | :--- | :--- | :--- | :--- | :--- | :--- | | Liu Jianjun | Domestic Natural Person | 29.71% | 85,853,138 | 64,389,853 | - | | Hunan Xingchuang Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 20.17% | 58,287,543 | 0 | - | | Sichuan Mingchuang Heda Commercial Partnership (Limited Partnership) | Other | 6.00% | 17,340,000 | 0 | - | | Bao Lilin | Domestic Natural Person | 3.21% | 9,267,652 | 6,950,739 | - | | Jiang Rong | Domestic Natural Person | 2.83% | 8,185,885 | 0 | - | | Xu Dandi | Domestic Natural Person | 2.64% | 7,624,207 | 7,624,207 | - | | Yueyang Cheng Rui Investment Co., Ltd. | Domestic Non-State-Owned Legal Person | 1.52% | 4,389,994 | 0 | Pledged 3,860,000 | | Zhang Jun | Domestic Natural Person | 0.63% | 1,834,973 | 1,376,230 | - | | Li Dengmei | Domestic Natural Person | 0.46% | 1,314,985 | 1,314,985 | - | | Zhejiang Bihu Investment Management Co., Ltd. - Bihu Huanyu Growth No. 3 Private Securities Investment Fund | Other | 0.35% | 1,000,384 | 0 | - | - Liu Jianjun holds **90%** of Xingchuang Investment and **10.83%** of Mingchuang Commercial, establishing an associated relationship between Liu Jianjun, Xingchuang Investment, Mingchuang Commercial, and the listed company. Bao Lilin, Xu Dandi, Zhang Jun, and Li Dengmei are partners of Mingchuang Commercial, also forming associated relationships with the listed company[13](index=13&type=chunk) Part III Significant Events This section outlines major financial and operational changes, fundraising progress, and other significant corporate activities during the reporting period [I. Changes and Reasons for Key Financial Data and Indicators in the Reporting Period](index=6&type=section&id=I.%20Changes%20and%20Reasons%20for%20Key%20Financial%20Data%20and%20Indicators%20in%20the%20Reporting%20Period) The company experienced significant changes across its financial statements, including increased trading financial assets and prepayments, higher revenue and costs, reduced selling expenses, increased financial expenses, and improved operating cash flow Balance Sheet Item Changes and Reasons (March 31, 2021 vs. December 31, 2020) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Trading Financial Assets | 40,174,794.52 | - | 100.00% | Mainly due to the purchase of wealth management products with idle funds in the current period | | Derivative Financial Assets | 2,431,860.00 | 236,040.00 | 930.27% | Mainly due to increased floating gains from non-highly effective hedging contracts at the end of the current period | | Prepayments | 396,842,562.11 | 210,471,671.68 | 88.55% | Mainly due to increased prepayments for raw material purchases in the current period | | Other Current Assets | 75,193,671.51 | 108,230,780.09 | -30.52% | Mainly due to decreased input VAT credit in the current period | | Accounts Payable | 197,849,181.51 | 299,288,244.61 | -33.89% | Mainly due to payments for raw materials and project costs in the current period | | Contract Liabilities | 153,588,794.15 | 252,886,805.88 | -39.27% | Mainly due to the fulfillment of prior performance obligations in the current period | | Employee Benefits Payable | 5,622,231.34 | 19,307,771.56 | -70.88% | Mainly due to the payment of 2020 year-end bonuses in the current period | | Taxes Payable | 33,993,153.94 | 16,554,281.24 | 105.34% | Mainly due to increased VAT payable in the current period | | Deferred Income Tax Liabilities | - | 621,646.88 | -100.00% | Mainly due to the reversal of internal transaction losses in the current period | Income Statement Item Changes and Reasons (Current Period vs. Prior Year Same Period) | Item | Current Period Amount (Yuan) | Prior Year Same Period Amount (Yuan) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,299,370,529.73 | 969,803,956.38 | 33.98% | Mainly due to increased sales prices and volumes of main products compared to the prior year same period | | Operating Cost | 1,176,550,111.42 | 878,779,052.14 | 33.88% | Mainly due to increased revenue in the current period; additionally, transportation costs are reclassified to operating costs under new revenue standards | | Selling Expenses | 19,957,952.17 | 42,337,451.69 | -52.86% | Mainly due to transportation costs related to contracts being reclassified to operating costs under new revenue standards in the current period | | Financial Expenses | 5,740,011.30 | -397,815.64 | 1542.88% | Mainly due to increased bank loan interest in the current period | | Other Income | 4,704,733.91 | 1,665,335.45 | 182.51% | Mainly due to increased government subsidies received in the current period | | Investment Income | 1,096,234.32 | 9,455,381.36 | -88.41% | Mainly due to decreased wealth management income and reduced realized gains from non-highly effective hedging contracts in the current period | | Fair Value Change Gains | 7,558,990.00 | 3,734,406.51 | 102.41% | Mainly due to increased floating gains from non-highly effective hedging contracts at the end of the current period | | Credit Impairment Losses | 999,790.61 | -418,669.70 | -338.80% | Mainly due to the reversal of bad debt provisions at the end of the current period | | Non-Operating Income | 446,890.74 | 4,179,106.87 | -89.31% | Mainly due to decreased insurance claim receipts in the current period | Cash Flow Statement Item Changes and Reasons (Current Period vs. Prior Year Same Period) | Item | Current Period Amount (Yuan) | Prior Year Same Period Amount (Yuan) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 31,946,267.53 | -122,952,459.38 | 125.98% | Mainly due to increased sales receipts in the current period | | Net Cash Flow from Investing Activities | -187,223,877.92 | 99,741,009.66 | -287.71% | Mainly due to increased project payments and reduced redemption of wealth management products in the current period | | Net Cash Flow from Financing Activities | 184,193,487.56 | 141,026,617.29 | 30.61% | Mainly due to increased bank loan funds in the current period | | Net Increase in Cash and Cash Equivalents | 28,916,772.65 | 118,082,158.27 | -75.51% | Mainly due to increased project payments and reduced redemption of wealth management products in the current period | [II. Progress of Significant Events, Their Impact, and Analysis of Solutions](index=7&type=section&id=II.%20Progress%20of%20Significant%20Events%2C%20Their%20Impact%2C%20and%20Analysis%20of%20Solutions) The company's A-share private placement plan for up to **1 billion yuan** for processing projects and working capital has been approved, and a share repurchase plan was terminated - The company's non-public issuance of A-shares plan received approval from the China Securities Regulatory Commission on April 17, 2021, with an estimated total fundraising of no more than **1 billion yuan**, to be used for edible oil processing projects in Jingjiang, Yueyang, Maoming, and to supplement working capital[20](index=20&type=chunk)[21](index=21&type=chunk) - The company terminated its share repurchase plan on February 28, 2020, having cumulatively repurchased **15,031,695 shares**, representing **5.20%** of the total share capital, with a total transaction amount of **208,171,448.12 yuan**. The repurchased shares will be used for purposes such as conversion into convertible bonds issued by the listed company[22](index=22&type=chunk) [III. Unfulfilled Commitments by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company at the End of the Reporting Period](index=7&type=section&id=III.%20Unfulfilled%20Commitments%20by%20Controlling%20Shareholder%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20at%20the%20End%20of%20the%20Reporting%20Period) No overdue unfulfilled commitments by the controlling shareholder, shareholders, related parties, acquirers, or the company were identified during the reporting period - The company had no overdue unfulfilled commitments from its controlling shareholder, shareholders, related parties, acquirers, or the company itself during the reporting period[22](index=22&type=chunk) [IV. Financial Asset Investments](index=8&type=section&id=IV.%20Financial%20Asset%20Investments) The company had no securities investments but engaged in commodity futures hedging, reporting a **921,400 yuan** profit and implementing internal controls for risk management - The company had no securities investments during the reporting period[23](index=23&type=chunk) Derivative Investment Status (Commodity Futures Contracts) | Derivative Investment Type | Initial Investment Amount of Derivative (10,000 Yuan) | Beginning Investment Amount (10,000 Yuan) | Amount Purchased During Reporting Period (10,000 Yuan) | Amount Sold During Reporting Period (10,000 Yuan) | Period-End Investment Amount (10,000 Yuan) | Period-End Investment Amount as % of Company's Net Assets | Actual Profit/Loss Amount During Reporting Period (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Commodity Futures Contracts | 4,101.45 | -2,120.94 | 112,408.13 | 100,288.46 | -1,383.42 | -0.70% | 92.14 | | Total | 4,101.45 | -2,120.94 | 112,408.13 | 100,288.46 | -1,383.42 | -0.70% | 92.14 | - The company uses commodity futures for hedging to mitigate price fluctuation risks of raw materials and finished products, and has established 'Internal Control System for Futures Hedging' and 'Management Measures and Operating Rules for Futures Hedging' for risk management[24](index=24&type=chunk) [V. Progress of Fundraising Investment Projects](index=9&type=section&id=V.%20Progress%20of%20Fundraising%20Investment%20Projects) There was no progress on fundraising investment projects during the reporting period - The company had no progress on fundraising investment projects during the reporting period[26](index=26&type=chunk) [VI. Forecast of Operating Performance for January-June 2021](index=9&type=section&id=VI.%20Forecast%20of%20Operating%20Performance%20for%20January-June%202021) The company did not provide a forecast or warning for potential losses or significant changes in operating performance for January-June 2021 - The company did not forecast its operating performance for January-June 2021, and there is no situation where cumulative net profit might be a loss or significantly change compared to the prior year same period[26](index=26&type=chunk) [VII. Significant Contracts in Ordinary Course of Business](index=9&type=section&id=VII.%20Significant%20Contracts%20in%20Ordinary%20Course%20of%20Business) There were no significant contracts in the ordinary course of business during the reporting period - The company had no significant contracts in the ordinary course of business during the reporting period[26](index=26&type=chunk) [VIII. Entrusted Wealth Management](index=9&type=section&id=VIII.%20Entrusted%20Wealth%20Management) The company invested **200 million yuan** in bank wealth management products using its own funds, with **40 million yuan** outstanding and no overdue amounts Entrusted Wealth Management Status | Specific Type | Source of Funds for Entrusted Wealth Management | Amount of Entrusted Wealth Management (10,000 Yuan) | Outstanding Balance (10,000 Yuan) | Overdue Unrecovered Amount (10,000 Yuan) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 20,000 | 4,000 | 0 | | Total | - | 20,000 | 4,000 | 0 | - The company had no high-risk entrusted wealth management products with significant individual amounts, low security, poor liquidity, or non-guaranteed principal during the reporting period, nor were there any situations where principal was expected to be unrecoverable or other impairment-causing circumstances[27](index=27&type=chunk) [IX. Irregular External Guarantees](index=10&type=section&id=IX.%20Irregular%20External%20Guarantees) There were no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[28](index=28&type=chunk) [X. Non-Operating Fund Occupation by Controlling Shareholder and Related Parties](index=10&type=section&id=X.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholder%20and%20Related%20Parties) There was no non-operating fund occupation by the controlling shareholder or related parties during the reporting period - The company had no non-operating fund occupation by its controlling shareholder or related parties during the reporting period[29](index=29&type=chunk) [XI. Registration Form for Investor Relations Activities During the Reporting Period](index=10&type=section&id=XI.%20Registration%20Form%20for%20Investor%20Relations%20Activities%20During%20the%20Reporting%20Period) No investor relations activities, including research visits, communications, or interviews, occurred during the reporting period - The company did not conduct any investor relations activities such as research visits, communications, or interviews during the reporting period[30](index=30&type=chunk) Part IV Financial Statements This section presents the company's unaudited consolidated and parent company financial statements for Q1 2021 [I. Financial Statements](index=11&type=section&id=I.%20Financial%20Statements) This section presents the company's consolidated and parent company financial statements for Q1 2021, detailing financial position and operating results [1. Consolidated Balance Sheet](index=11&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of March 31, 2021, consolidated total assets reached **3.525 billion yuan**, driven by increased trading financial assets and prepayments, with short-term borrowings also rising Consolidated Balance Sheet Key Data (As of March 31, 2021) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 410,528,799.00 | 381,612,026.35 | | Trading Financial Assets | 40,174,794.52 | - | | Derivative Financial Assets | 2,431,860.00 | 236,040.00 | | Prepayments | 396,842,562.11 | 210,471,671.68 | | Inventories | 683,000,022.56 | 875,340,721.92 | | Total Current Assets | 1,756,284,115.43 | 1,753,810,874.50 | | Fixed Assets | 730,100,616.72 | 739,283,578.41 | | Construction in Progress | 785,097,577.84 | 711,150,345.39 | | Total Non-Current Assets | 1,768,795,083.45 | 1,704,125,250.06 | | **Total Assets** | **3,525,079,198.88** | **3,457,936,124.56** | | Short-term Borrowings | 949,808,212.82 | 760,946,194.44 | | Derivative Financial Liabilities | 16,266,080.00 | 21,445,480.00 | | Accounts Payable | 197,849,181.51 | 299,288,244.61 | | Contract Liabilities | 153,588,794.15 | 252,886,805.88 | | Total Current Liabilities | 1,467,391,343.94 | 1,479,971,774.94 | | Total Liabilities | 1,556,200,062.82 | 1,572,162,761.10 | | Total Equity Attributable to Parent Company Shareholders | 1,904,449,420.49 | 1,824,434,689.05 | | **Total Liabilities and Equity** | **3,525,079,198.88** | **3,457,936,124.56** | [2. Parent Company Balance Sheet](index=14&type=section&id=2.%20Parent%20Company%20Balance%20Sheet) As of March 31, 2021, parent company total assets reached **2.377 billion yuan**, with significant increases in cash, receivables, prepayments, and inventories, and a near doubling of current liabilities Parent Company Balance Sheet Key Data (As of March 31, 2021) | Item | March 31, 2021 (Yuan) | December 31, 2020 (Yuan) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 376,584,715.49 | 198,559,686.45 | | Trading Financial Assets | 40,174,794.52 | - | | Accounts Receivable | 159,159,791.83 | 100,556,434.00 | | Prepayments | 118,101,587.69 | 67,401,016.43 | | Inventories | 206,059,081.70 | 59,465,620.37 | | Total Current Assets | 1,876,772,191.44 | 1,387,922,629.72 | | Long-term Equity Investments | 455,730,991.05 | 455,730,991.05 | | **Total Assets** | **2,377,220,159.86** | **1,888,246,124.96** | | Short-term Borrowings | 472,350,138.88 | 300,586,388.88 | | Derivative Financial Liabilities | 16,266,080.00 | 21,445,480.00 | | Accounts Payable | 14,718,790.38 | 52,279,873.33 | | Other Payables | 375,578,567.96 | 33,441,892.19 | | Total Current Liabilities | 882,372,398.27 | 442,727,512.95 | | **Total Liabilities** | **891,944,828.64** | **452,553,057.97** | | Total Equity | 1,485,275,331.22 | 1,435,693,066.99 | | **Total Liabilities and Equity** | **2,377,220,159.86** | **1,888,246,124.96** | [3. Consolidated Income Statement](index=16&type=section&id=3.%20Consolidated%20Income%20Statement) In Q1 2021, consolidated operating revenue grew **33.98%** to **1.299 billion yuan**, with net profit attributable to parent shareholders increasing **95.31%** to **81.63 million yuan** Consolidated Income Statement Key Data (Q1 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 1,299,370,529.73 | 969,803,956.38 | | Operating Cost | 1,176,550,111.42 | 878,779,052.14 | | Selling Expenses | 19,957,952.17 | 42,337,451.69 | | Financial Expenses | 5,740,011.30 | -397,815.64 | | Other Income | 4,704,733.91 | 1,665,335.45 | | Investment Income | 1,096,234.32 | 9,455,381.36 | | Fair Value Change Gains | 7,558,990.00 | 3,734,406.51 | | Operating Profit | 92,941,442.17 | 48,151,578.34 | | Total Profit | 93,302,282.76 | 52,216,149.76 | | Net Profit | 84,721,500.52 | 40,930,971.67 | | Net Profit Attributable to Parent Company Shareholders | 81,630,459.36 | 41,795,410.59 | | Basic Earnings Per Share | 0.30 | 0.15 | | Diluted Earnings Per Share | 0.30 | 0.15 | [4. Parent Company Income Statement](index=19&type=section&id=4.%20Parent%20Company%20Income%20Statement) In Q1 2021, parent company operating revenue grew **6.56%** to **257 million yuan**, achieving a net profit of **49.93 million yuan** from a prior-year loss Parent Company Income Statement Key Data (Q1 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 256,849,587.33 | 241,038,075.18 | | Operating Cost | 200,126,312.82 | 227,717,756.47 | | Selling Expenses | 9,973,632.58 | 10,584,354.01 | | Financial Expenses | 2,812,677.60 | -224,130.65 | | Other Income | 1,759,516.65 | 136,641.79 | | Investment Income | 1,096,234.32 | 7,075,046.76 | | Fair Value Change Gains | 7,718,600.00 | -8,691,093.49 | | Operating Profit | 49,894,077.43 | -4,311,133.10 | | Total Profit | 49,925,644.23 | -2,770,740.37 | | Net Profit | 49,925,644.23 | -2,770,740.37 | [5. Consolidated Cash Flow Statement](index=21&type=section&id=5.%20Consolidated%20Cash%20Flow%20Statement) In Q1 2021, net operating cash flow turned positive to **31.95 million yuan**, a **125.98%** increase, while investing activities saw significant outflows and financing activities had substantial inflows Consolidated Cash Flow Statement Key Data (Q1 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,527,949,714.53 | 1,042,648,401.25 | | Subtotal of Cash Outflows from Operating Activities | 1,496,003,447.00 | 1,165,600,860.63 | | Net Cash Flow from Operating Activities | 31,946,267.53 | -122,952,459.38 | | Subtotal of Cash Inflows from Investing Activities | 160,000,510.00 | 236,927,854.83 | | Subtotal of Cash Outflows from Investing Activities | 347,224,387.92 | 137,186,845.17 | | Net Cash Flow from Investing Activities | -187,223,877.92 | 99,741,009.66 | | Subtotal of Cash Inflows from Financing Activities | 410,000,000.00 | 190,000,000.00 | | Subtotal of Cash Outflows from Financing Activities | 225,806,512.44 | 48,973,382.71 | | Net Cash Flow from Financing Activities | 184,193,487.56 | 141,026,617.29 | | Net Increase in Cash and Cash Equivalents | 28,916,772.65 | 118,082,158.27 | | Period-End Balance of Cash and Cash Equivalents | 410,528,799.00 | 362,483,629.28 | [6. Parent Company Cash Flow Statement](index=24&type=section&id=6.%20Parent%20Company%20Cash%20Flow%20Statement) In Q1 2021, parent company net operating cash flow increased to **48.81 million yuan**, while investing activities showed a net outflow and financing activities significantly increased due to borrowings Parent Company Cash Flow Statement Key Data (Q1 2021) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 1,776,654,773.55 | 1,366,413,603.05 | | Subtotal of Cash Outflows from Operating Activities | 1,727,843,489.64 | 1,321,894,620.39 | | Net Cash Flow from Operating Activities | 48,811,283.91 | 44,518,982.66 | | Subtotal of Cash Inflows from Investing Activities | 160,000,510.00 | 236,927,854.83 | | Subtotal of Cash Outflows from Investing Activities | 200,432,657.00 | 107,658,232.95 | | Net Cash Flow from Investing Activities | -40,432,147.00 | 129,269,621.88 | | Subtotal of Cash Inflows from Financing Activities | 200,000,000.00 | 30,000,000.00 | | Subtotal of Cash Outflows from Financing Activities | 30,354,111.12 | 48,896,586.30 | | Net Cash Flow from Financing Activities | 169,645,888.88 | -18,896,586.30 | | Net Increase in Cash and Cash Equivalents | 178,025,029.04 | 154,900,056.48 | | Period-End Balance of Cash and Cash Equivalents | 376,584,715.49 | 348,013,083.80 | [II. Explanation of Financial Statement Adjustments](index=25&type=section&id=II.%20Explanation%20of%20Financial%20Statement%20Adjustments) The company adopted new leasing standards in 2021 without retrospective adjustment to prior period financial statements - The company adopted new leasing standards for the first time in 2021 but did not retrospectively adjust the financial statements at the beginning of the first adoption year or prior comparative data[58](index=58&type=chunk) [III. Audit Report](index=25&type=section&id=III.%20Audit%20Report) The company's Q1 2021 report remains unaudited - The company's first quarter report is unaudited[58](index=58&type=chunk)

Financial Performance - The company's operating revenue for 2020 was CNY 5,287,320,473.49, representing a 28.43% increase compared to CNY 4,116,731,900.76 in 2019[16] - The net profit attributable to shareholders of the listed company was a loss of CNY 76,499,092.75, a decrease of 159.38% from a profit of CNY 128,835,318.91 in 2019[16] - The basic earnings per share for 2020 was -0.2786, down 161.57% from 0.4525 in 2019[16] - The total assets at the end of 2020 were CNY 3,457,936,124.56, an increase of 27.98% from CNY 2,701,875,970.52 at the end of 2019[16] - The net cash flow from operating activities for 2020 was CNY 79,563,423.31, a significant increase of 474.34% compared to CNY 13,852,910.91 in 2019[16] - The total profit for 2020 was reported at -¥45.10 million, a decline of 127.22% compared to the previous year, primarily due to rapid increases in raw material prices[28] - The company’s net profit attributable to shareholders for 2020 was -¥76.50 million, reflecting a significant decrease of 159.38% year-on-year[28] - The company reported a net increase in cash and cash equivalents of ¥131,400,456.02 in 2020, a significant turnaround from a decrease of ¥28,691,649.15 in 2019, marking a 557.97% increase[62] Revenue Sources and Growth - The revenue from packaging oil and by-products was the main contributor to the operating revenue increase[16] - The company reported a significant increase in sales of packaging oil, which was a key driver for revenue growth[17] - The company achieved a total revenue of ¥5,287.32 million in 2020, representing a year-on-year growth of 28.43%[28] - The company’s main product, packaged oil, generated revenue of ¥4,140,974,255.13, marking a 31.03% increase from the previous year[48] - The revenue from the Central China region was ¥2,506,723,922.40, representing 47.41% of total revenue, with a year-on-year growth of 32.80%[48] Market Position and Strategy - The company has a strong market position as a leading brand in the packaging edible oil sector, particularly in rapeseed oil, with a well-recognized brand "Daodaoquan"[27] - The company is focusing on expanding its market presence in regions such as Northwest, Northeast, and South China, alongside strengthening its brand influence in Central China[36] - The company is launching new products, including high oleic canola oil and tea oil, to enhance its product offerings and competitiveness[39] - The company is focusing on brand promotion and market marketing for new products such as tea oil and high oleic rapeseed oil[89] Operational Efficiency and Investments - The company has invested significantly in construction projects, with a reported increase of 15,977.27% in construction in progress compared to the beginning of the year[30] - The company plans to complete the construction of new processing projects in Yueyang, Guangdong, and Jiangsu by the first half of 2021, which will enhance production capacity[36] - The company plans to enhance its production capacity with the upcoming completion of new production bases in Jingjiang, Maoming, and the second phase of the Yueyang project[44] - The company is accelerating the research and development of plant oil refining technology to improve product competitiveness[89] Quality Control and Certifications - The company has implemented quality control measures, achieving ISO9001 and ISO22000 certifications, ensuring product quality and safety[31] - The company has established a comprehensive product traceability system to enhance quality control and consumer experience[37] - The company emphasizes product safety and quality, ensuring the production of healthy and safe grain and oil products[139] Cash Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1 per 10 shares to all shareholders, based on a total of 273,968,305 shares[4] - The cash dividend distribution represents 100% of the total distributable profit of CNY 223,980,420.65 for the year[104] - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase[104] Risk Management and Challenges - The company has indicated uncertainty regarding its ability to continue as a going concern, as reflected in the audit report[16] - The company faces risks from raw material price fluctuations, which could significantly impact profitability despite hedging strategies[90] - The competitive landscape in the edible oil industry is intensifying, necessitating effective brand promotion and marketing channel expansion[90] Social Responsibility and Community Engagement - The company has actively participated in poverty alleviation efforts, helping 2 out of 9 targeted impoverished households achieve poverty alleviation in 2020[142] - The company allocated a total of 46 million yuan for poverty alleviation efforts, with specific projects contributing to this amount[143] - The company has implemented strict environmental protection measures in accordance with national regulations, highlighting its commitment to sustainable development[140] Management and Governance - The company’s management team includes experienced professionals with backgrounds in finance and management, enhancing operational efficiency[184] - The company has a robust internal control system to protect the rights of all shareholders, ensuring fair treatment and information disclosure[137] - The company has not engaged in any major litigation or arbitration matters during the reporting period[116]

Financial Performance - Operating revenue for the reporting period reached CNY 1,521,688,716.25, a 43.40% increase year-on-year[7] - Net profit attributable to shareholders was CNY -11,691,319.05, a decrease of 153.49% compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 270.09% to CNY 16,631,451.66[7] - Basic earnings per share were CNY -0.04, a decrease of 100.00% year-on-year[7] - The weighted average return on net assets was -0.67%, down 204.55% from the previous year[7] - The net profit for the third quarter was a loss of CNY 11,268,811.88, compared to a loss of CNY 4,286,459.15 in the same period last year[45] - The total comprehensive income for the third quarter was a loss of CNY 26,298,661.40, compared to a gain of CNY 5,422,010.85 in the previous year[46] - The net profit attributable to the parent company was CNY 90,197,112.87, compared to CNY 127,069,600.57 in the same period last year, indicating a decrease of about 29.1%[53] - The total profit for the current period was CNY 121,829,432.11, down from CNY 174,055,800.87, reflecting a decline of approximately 30%[52] - The total comprehensive income for the current period was CNY 77,856,881.09, compared to CNY 133,597,022.06 in the previous period, indicating a decrease of about 41.7%[53] Assets and Liabilities - Total assets increased by 10.87% to CNY 2,995,554,341.87 compared to the end of the previous year[7] - Non-current assets totaled CNY 1,302,282,583.23, up from CNY 1,046,843,492.51 year-on-year, indicating a growth of approximately 24.3%[38] - Current liabilities rose to CNY 870,529,758.33, compared to CNY 586,268,729.70 in the previous year, marking an increase of approximately 48.5%[37] - The company's total liabilities reached CNY 956,443,649.49, up from CNY 674,022,150.88, representing a growth of around 42%[37] - The company's cash and cash equivalents decreased by 571.77%, totaling -¥123,063,356.30, primarily due to increased investment in subsidiary projects[17] - The company's accounts receivable increased by 46.54% to ¥56,009,070.19, driven by higher sales of packaged oil[16] - The company's total liabilities decreased by 61.20% in accounts payable, amounting to ¥115,797,752.57, due to reduced payments for raw material purchases[16] - Total liabilities reached CNY 674,022,150.88, with current liabilities at CNY 586,268,729.70 and non-current liabilities at CNY 87,753,421.18[69] Cash Flow - Cash flow from operating activities was CNY -101,595,617.83, a decline of 22.06% compared to the previous year[7] - The net cash flow from operating activities improved by 81.25%, amounting to -¥65,782,652.15, compared to -¥350,930,145.21 in the previous year[17] - The net cash flow from operating activities was -65,782,652.15 CNY, compared to -350,930,145.21 CNY in the previous period, indicating an improvement[60] - Total cash inflow from operating activities reached 4,393,055,925.16 CNY, up from 3,055,736,626.57 CNY year-over-year[60] - Cash outflow from operating activities increased to 4,458,838,577.31 CNY from 3,406,666,771.78 CNY, reflecting higher operational costs[60] - The net cash flow from investing activities was -241,004,882.83 CNY, a decline from a positive 545,495,174.44 CNY in the previous period[61] - The net cash flow from financing activities was 183,313,080.99 CNY, a significant recovery from -213,048,784.03 CNY in the previous period[62] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,890[11] - The top shareholder, Liu Jianjun, holds 29.71% of the shares, totaling 85,853,138 shares[11] Investment and Expenses - The company reported a significant increase in prepayments, which rose by 271.89% to ¥497,940,907.29, primarily due to increased raw material procurement[16] - The company’s financial expenses decreased by 36.41%, with net financial income reported at -¥2,090,521.62 due to increased interest income from deposits[16] - The company reported a significant increase in operating costs, with a total of CNY 3,676,617,118.18 for the year-to-date, compared to CNY 2,740,861,807.88 in the previous year[51] - Research and development expenses for the third quarter were CNY 1,068,261.44, slightly down from CNY 1,202,757.31 in the previous year[44] - The company incurred research and development expenses of CNY 2,555,009.15, an increase from CNY 1,925,568.49 in the previous period, reflecting a growth of approximately 32.8%[55] Risk Management - The company has established a dedicated futures operation team and internal control systems to manage risk in derivative investments[25] - The total amount of entrusted financial management was 33,000 million, with no overdue amounts reported[27] - The company has not reported any significant changes in accounting policies related to derivatives compared to the previous reporting period[25] - There were no violations regarding external guarantees or non-operating fund occupation by major shareholders during the reporting period[28][29]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥2,291,087,705.08, representing a 32.50% increase compared to ¥1,729,114,672.01 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥101,888,431.92, a decrease of 22.63% from ¥131,681,703.98 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥83,174,253.42, showing a significant increase of 378.78% compared to ¥17,372,255.04 in the same period last year[17]. - The net cash flow from operating activities was ¥35,812,965.68, a turnaround from a negative cash flow of ¥267,695,363.25 in the previous year, marking a 113.15% improvement[17]. - Total assets at the end of the reporting period were ¥2,911,461,504.05, an increase of 7.76% from ¥2,701,875,970.52 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥2,000,852,810.03, reflecting a 1.70% increase from ¥1,967,459,754.84 at the end of the previous year[17]. - Basic earnings per share decreased by 8.70% to ¥0.42 from ¥0.46 in the same period last year[17]. - The weighted average return on net assets was 5.18%, down from 5.97% in the previous year[17]. Market and Expansion - The company has a total of 1,032 distributors, with over 600,000 sales points directly reaching consumers[28]. - The company plans to expand its market presence in regions such as Northwest, North China, South China, and Northeast China, with significant progress already made[33]. - The company’s brand "Da Dao Quan" has gained significant market recognition and is positioned as a leading brand in the rapeseed oil segment[28]. - The company is focusing on strengthening its brand influence in strategic markets while promoting health and wellness culture[34]. - The company plans to expand its market presence by entering three new regions by the end of 2021[190]. Research and Development - Research and development expenses increased by 73.12% to ¥2,456,754.54, mainly due to higher material costs for R&D projects[36]. - The company is investing 200 million RMB in R&D for new product development in the next fiscal year[190]. - Research and development expenses for the first half of 2020 were CNY 2,456,754.54, an increase from CNY 1,419,076.93 in the same period last year, representing a growth of 73.1%[143]. Financial Management and Investments - The company reported a total of 104.79 million RMB in fair value changes for financial assets during the reporting period[48]. - The company has engaged in entrusted wealth management with a total amount of 68 million yuan, including 45 million yuan in bank financial products and 23 million yuan in broker financial products[97]. - The company reported a total guarantee amount of 394 million yuan, with an actual guarantee balance of 16 million yuan at the end of the reporting period, representing 8.00% of the company's net assets[94]. - The company has a commitment to maintain strict compliance with various promises made during its initial public offering and other financing activities[70]. Environmental and Social Responsibility - The company has implemented strict quality control measures, including ISO9001 and ISO22000 certifications, to mitigate food safety risks[63]. - The company allocated 1.2 million yuan for poverty alleviation efforts, helping 18 registered impoverished individuals to escape poverty[107]. - The company established an oil tea base as part of its industrial poverty alleviation initiatives, contributing to local economic development[106]. - The company has a comprehensive emergency response plan for environmental incidents, with training conducted for staff to enhance their response capabilities[103]. - The company has successfully completed environmental inspections and obtained necessary permits, including a pollution discharge permit issued in June 2020[102]. Shareholder Information - The company announced a share repurchase plan with a total budget of up to RMB 530 million, aiming to buy back approximately 28,648,648 shares, representing 9.91% of the total shares outstanding[113]. - As of February 28, 2020, the company had repurchased a total of 15,031,695 shares, accounting for 5.20% of the total share capital, with a total transaction amount of RMB 208,171,448.12[114]. - The number of restricted shares decreased from 164,382,375 to 82,659,679, representing a reduction of 50.48%[115]. - The number of unrestricted shares increased from 124,617,625 to 206,340,321, reflecting a growth of 65.55%[115]. - The company’s major shareholders include Liu Jianjun with 29.71% and Hunan Xingchuang Investment Management Co., Ltd. with 20.17%[118]. Risk Management - The fluctuation in raw material prices, particularly for oil, poses a significant risk to profitability, with over 60% of raw materials being imported[64]. - The company faces increasing market competition, particularly from larger comprehensive edible oil processing enterprises, which may impact brand promotion and marketing channels[64]. - The company has adopted a hedging strategy using futures contracts to manage raw material price volatility, although this carries inherent risks[65]. - The company is subject to risks associated with changes in national industrial policies that could affect its profitability[64]. Compliance and Governance - The company did not conduct an audit for the semi-annual financial report[75]. - There were no bankruptcy reorganization matters during the reporting period[77]. - The company has made commitments regarding the transparency of shareholder intentions and related party transactions[74]. - The company has not issued a non-standard audit report for the previous year[76]. - The company has implemented measures to ensure the timely fulfillment of commitments to minority shareholders[74].

Financial Performance - The company's operating revenue for 2019 was CNY 4,116,731,900.76, an increase of 14.34% compared to CNY 3,600,495,170.90 in 2018[19] - The net profit attributable to shareholders of the listed company decreased by 41.32% to CNY 128,835,318.91 from CNY 219,556,698.96 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 13,852,910.91, down 85.13% from CNY 93,159,167.33 in 2018[19] - The net cash flow from operating activities was negative CNY 177,014,185.12, a decline of 186.06% compared to positive CNY 205,692,320.97 in 2018[19] - Basic earnings per share decreased by 40.79% to CNY 0.45 from CNY 0.76 in the previous year[19] - The total profit for the year was CNY 16,572,000, a decrease of 44.02% compared to the previous year, while net profit attributable to shareholders was CNY 12,883,530, a decline of 41.32%[36] - The company's operating profit for 2019 was CNY 165.72 million, a decrease of 44.02% from the previous year, indicating challenges in maintaining profitability amidst rising costs[30] Assets and Liabilities - The total assets at the end of 2019 were CNY 2,701,875,970.52, a decrease of 2.16% from CNY 2,761,405,104.19 at the end of 2018[20] - The net assets attributable to shareholders of the listed company decreased by 6.31% to CNY 1,967,459,754.84 from CNY 2,100,034,426.80 in 2018[20] - The company's fixed assets increased by 16.91% year-on-year, mainly due to the completion of the second phase of the Chongqing subsidiary's expansion project[31] - The company's intangible assets grew by 60.71% year-on-year, primarily due to the acquisition of land use rights by subsidiaries[31] - The proportion of accounts payable increased by 5.51% to CNY 298,451,652, reflecting higher raw material procurement costs[61] Revenue Sources and Costs - The packaging oil segment generated CNY 3,160,401,754.22, accounting for 76.77% of total revenue, with an 18.43% increase year-on-year[40] - The company's raw material costs increased by 19.27% year-on-year, amounting to CNY 3,371,946,769, which constituted 90.18% of total operating costs[45] - Sales expenses increased by 27.32% to CNY 253,438,339.88, primarily due to higher advertising and transportation costs[51] - Management expenses rose by 33.30% to CNY 63,799,824.05, mainly driven by increased share-based payments, wages, and depreciation[51] - Research and development expenses grew by 20.95% to CNY 3,765,607.88, representing 0.09% of total revenue[52] Market Position and Expansion - The company is positioned as a leading brand in the packaging edible oil market, particularly in the rapeseed oil segment, with a strong market recognition[29] - The company plans to expand its market presence beyond the Yangtze River basin to other regions, including Northwest, South China, and North China[33] - The company has a total of 958 regional distributors, providing over 570,000 sales points directly to consumers[32] - The company plans to accelerate the construction of projects in Yueyang, Jingjiang, and Maoming, aiming for completion and production by the end of 2020 or early 2021[85] Risk Management - The company has outlined potential risks and countermeasures in its report, emphasizing the importance of investor awareness regarding investment risks[5] - Risks identified include food safety and quality control, raw material price volatility, intensified market competition, and policy changes affecting the oilseed industry[86][87] - The company has implemented strict quality management systems and procurement standards to mitigate food safety risks[86] - Daodaoquan employs hedging strategies in the futures market to manage raw material price fluctuations, although this carries inherent risks[87] Corporate Governance and Shareholder Relations - The management emphasized the importance of maintaining transparency and compliance with shareholder commitments, particularly regarding profit distribution[99] - The company has established a communication channel for investors, ensuring equal access to information for all shareholders[135] - The company has maintained its auditor, Tianzhi International Accounting Firm, for six consecutive years, with an audit fee of CNY 680,000[111] - The company has not reported any violations regarding external guarantees during the reporting period[129] Social Responsibility and Environmental Initiatives - The company has actively engaged in social responsibility initiatives, including support for education and assistance for disadvantaged groups[134] - The company is committed to environmental protection as a key part of its sustainable development strategy, adhering to strict environmental operation standards[137] - The company invested over 1.2 million yuan in 2019 to upgrade its pre-treatment facilities, maintaining compliance with environmental standards[143] - The company has established a comprehensive emergency response plan for environmental incidents, with regular drills and training conducted[145] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[99] - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on expanding the product line in the health food sector[99] - The company is considering strategic acquisitions to enhance its supply chain, with a budget of 300 million RMB allocated for potential mergers[99] - The company plans to enhance its digital marketing strategy, aiming for a 50% increase in online sales[187]

Revenue and Profitability - Revenue for Q1 2020 was CNY 969,803,956.38, an increase of 10.54% compared to CNY 877,354,870.60 in the same period last year[8] - Net profit attributable to shareholders decreased by 6.00% to CNY 41,795,410.59 from CNY 44,463,064.27 year-on-year[8] - Net profit excluding non-recurring gains and losses increased by 72.88% to CNY 26,636,988.78 from CNY 15,407,641.74 in the previous year[8] - Net profit for the quarter was CNY 40,930,971.67, compared to CNY 44,292,544.71 in the same period last year, reflecting a decrease of approximately 7.7%[42] - The company reported a total comprehensive income of -2,464,216.88 CNY, compared to -35,021,759.58 CNY in the same quarter last year, showing a notable reduction in losses[47] Cash Flow and Liquidity - Net cash flow from operating activities was negative at CNY -122,952,459.38, a decline of 529.08% compared to CNY -19,544,789.90 in the same period last year[8] - The cash inflow from investment activities was 236,927,854.83 CNY, down from 798,550,671.23 CNY in the previous year, indicating a decrease of approximately 70.3%[53] - The cash outflow from investment activities was 107,658,232.95 CNY, significantly lower than 503,461,604.14 CNY in the same period last year, reflecting a reduction of about 78.7%[53] - The net cash flow from financing activities increased by 572.06% to ¥141,026,617.29, mainly due to an increase in epidemic funding loans[18] - The net cash flow from financing activities was -18,896,586.30 CNY in Q1 2020, compared to -29,874,922.67 CNY in Q1 2019, indicating an improvement of approximately 36.5% year-over-year[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,597,113,790.25, down 3.88% from CNY 2,701,875,970.52 at the end of the previous year[8] - The total current assets decreased to ¥1,548,629,721.95 from ¥1,655,032,478.01, a decline of about 6.4%[32] - The company's inventory decreased significantly to ¥715,187,329.96 from ¥899,103,119.11, a reduction of approximately 20.4%[32] - The total liabilities decreased to ¥589,344,561.75 from ¥674,022,150.88, reflecting a decrease of about 12.6%[34] - The company's total equity decreased to ¥2,007,769,228.50 from ¥2,027,853,819.64, a decline of approximately 1%[35] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,357[12] - The largest shareholder, Liu Jianjun, holds 29.71% of the shares, totaling 85,853,138 shares[12] - The company repurchased a total of 15,031,695 shares, accounting for 5.20% of the total share capital, with a total transaction amount of ¥208,171,448.12[20] - The company plans to use repurchased shares for conversion into convertible bonds, with a maximum repurchase price of ¥18.50 per share[19] Operational Efficiency - Sales expenses decreased by 42.10% to ¥42,337,451.69, mainly due to reduced advertising expenditures[17] - Other income fell by 82.25% to ¥1,665,335.45, attributed to a decrease in government subsidies related to daily operations[17] - The company's accounts receivable increased to ¥66,821,941.87 from ¥38,221,418.39, an increase of about 74.9%[32] - Research and development expenses for the quarter were CNY 930,128.68, up from CNY 567,036.90, indicating a focus on innovation[41] - The company reported a decrease in sales expenses to CNY 42,337,451.69 from CNY 73,115,473.40, reflecting cost management efforts[41] Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[26] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[27] - The company did not engage in any research, communication, or interview activities during the reporting period[28] - The company executed the new revenue recognition standard starting in 2020, adjusting the presentation of contract liabilities and other current liabilities[58] - The company did not conduct an audit for the Q1 2020 report, which may affect the reliability of the financial data presented[62]

Financial Performance - Operating revenue for the reporting period was CNY 1,061,183,475.45, an increase of 13.67% year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 4,612,103.41, a decrease of 107.11% compared to the same period last year[8] - Basic earnings per share were -CNY 0.02, a decrease of 109.09% compared to the same period last year[8] - The weighted average return on net assets was -0.22%, a decrease of 107.01% year-on-year[8] - The company reported a net profit attributable to shareholders of CNY 127,069,600.57 for the year-to-date, a decrease of 40.27% compared to the same period last year[8] - The net profit attributable to shareholders decreased by 40.27% to ¥127,069,600.57, mainly due to rising raw material prices impacting operating costs[17] - The net profit for the third quarter was a loss of ¥55,598,305.47, compared to a loss of ¥21,081,724.63 in the previous year, indicating a significant decline in profitability[52] - The total comprehensive income for the period was -¥55,598,305.47, compared to -¥19,810,564.63 in the previous year, highlighting ongoing financial challenges[52] Cash Flow - The net cash flow from operating activities was a negative CNY 83,234,781.96, a decrease of 126.21% year-on-year[8] - Cash flow from operating activities showed a drastic decline of 1098.20%, resulting in a net outflow of ¥350,930,145.21, primarily due to increased advance payments for raw materials[17] - The net cash flow from operating activities was -350,930,145.21 CNY, compared to -29,288,011.46 CNY in the previous year, indicating a significant decline[63] - The total cash inflow from operating activities was 3,802,852,366.20 CNY, compared to 3,686,131,475.41 CNY in the previous year, showing a slight increase[65] - The cash flow from sales of goods and services was 378,287,881.09 CNY, an increase from 293,608,732.17 CNY in the previous year[65] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,486,006,810.37, a decrease of 9.97% compared to the end of the previous year[8] - The company's accounts receivable increased by 58.20% to ¥40,294,273.78 due to an increase in credit sales[16] - Prepayments surged by 195.60% to ¥286,252,287.34, primarily due to increased advance payments for raw material purchases[16] - Total liabilities decreased to CNY 398,264,048.16 from CNY 596,389,798.31, a reduction of approximately 33.3%[39] - Current liabilities were CNY 318,799,709.81, down from CNY 512,385,914.68, showing a decline of about 37.8%[39] - The total assets of the company were reported at CNY 2,761,405,104.19, with current assets totaling CNY 1,655,298,103.57 and non-current assets at CNY 227,829,911.36[74] Shareholder Information - The total number of shareholders at the end of the reporting period was 20,116[12] - The largest shareholder, Liu Jianjun, holds 29.71% of the shares, totaling 85,853,138 shares[12] Investment and Expenses - Investment income rose significantly by 223.77% to ¥108,383,495.47, attributed to increased investment returns[16] - The company reported a significant increase in management expenses by 36.72% to ¥42,207,963.35, driven by higher share-based payments, wages, and depreciation[16] - The company reported a research and development expense of CNY 1,202,757.31, which is a substantial increase from CNY 433,707.88 in the previous year[47] - The company's total operating costs amounted to CNY 1,053,061,999.45, up 22.8% from CNY 857,759,422.75 year-on-year[47] Strategic Initiatives - The company plans to acquire 75% of Xiamen Zhonghe Industrial Co., Ltd. from Chen Yueqian and Chen Quanjiao, constituting a major asset restructuring[18] - The company is focused on expanding its market presence and developing new products and technologies to drive future growth[34] - The company has engaged in investor relations activities, including site visits and communications with institutions, to enhance transparency and engagement[32]