证券代码：002910 证券简称：庄园牧场 编号：2023-001 | --- | --- | --- | |----------------|---------------|----------------------------| | | □特定对象调研 | □分析师会议 | | 投资者关系活动 | □媒体采访 | ☑业绩说明会 | | 类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他 | （请文字说明其他活动内容） | 参与单位名称及 通过全景网（https://ir.p5w.net）参与公司 2022 年度网上 人员姓名 业绩说明会的投资者 时间 2023 年 5 月 22 日 下午 15:00-17:00 全景网"投资者关系互动平台"（https://ir.p5w.net） 地点 （本次年度业绩说明采用网络远程文字直播的方式举行） 马红富先生 副董事长、总经理 杨 毅先生 董事、副总经理及财务总监 上市公司接待人 张骞予女士 董事及董事会秘书 员姓名 王海鹏先生 独立董事 胡 林先生 华龙证券股份有限公司保荐代表人 公司与投资者进行了充分的交流与沟通，就投资者关 ...

证券代码：002910 证券简称：庄园牧场 公告编号：2023-023 出席本次业绩说明会的人员有：副董事长、总经理马红富先生，副总经理、 财务总监杨毅先生，董事会秘书张骞予女士，独立董事王海鹏先生，华龙证券股 份有限公司保荐代表人胡林先生。 为充分尊重投资者、提升交流的针对性，现就公司 2022 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2023 年 5 月 21 日 15:00 前访问 https://ir.p5w.net/zj/，或扫描下方二维码，进入问 题征集专题页面。公司将在 2022 年度业绩说明会上，在信息披露允许的范围内， 对投资者普遍关注的问题进行回答。欢迎广大投资者积极参与本次网上业绩说明 会。 （问题征集专题页面二维码） 特此公告。 兰州庄园牧场股份有限公司 关于举行 2022 年度网上业绩说明会的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 兰州庄园牧场股份有限公司(以下简称"公司"）已于 2023 年 4 月 21 日在 《证券日报》《证券时报》《上海证券报》《中国证券报》和巨潮资讯网 （h ...

Financial Performance - The company's revenue for Q1 2023 was ¥250,199,013.12, representing a 2.59% increase compared to ¥243,875,075.41 in the same period last year[5] - Net profit attributable to shareholders decreased by 44.10% to ¥6,326,870.76 from ¥11,317,385.18 year-on-year[5] - Basic and diluted earnings per share both decreased by 40.00% to ¥0.03 from ¥0.05 in the same period last year[5] - The net profit for the first quarter of 2023 was CNY 6,326,870.76, a decrease of 44.1% compared to CNY 11,317,385.18 in the same period last year[18] - Operating profit for the first quarter was CNY 6,428,170.11, down 56.3% from CNY 14,715,991.26 year-over-year[18] - The company reported a total comprehensive income of CNY 6,326,870.76 for the first quarter, down 44.1% from CNY 11,317,385.18 in the previous year[19] Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 138.10% to ¥40,599,201.35 compared to ¥17,051,387.32 in the previous year[5] - The net cash flow from operating activities was CNY 40,599,201.35, significantly up from CNY 17,051,387.32 in the same quarter last year[21] - Cash and cash equivalents at the end of the period were CNY 259,373,847.63, down from CNY 544,199,575.18 at the end of the previous year[22] - The net cash flow from investing activities was negative at CNY -17,278,917.53, an improvement from CNY -75,145,689.61 in the same quarter last year[21] Assets and Liabilities - Total assets as of March 31, 2023, were ¥2,630,678,859.81, a decrease of 2.19% from ¥2,689,514,890.44 at the end of the previous year[5] - Total assets as of the end of Q1 2023 were CNY 2,630,678,859.81, down from CNY 2,689,514,890.44 at the beginning of the year, a decrease of 2.2%[16] - Total liabilities decreased to CNY 1,263,883,754.52 from CNY 1,329,423,922.40, reflecting a reduction of 4.9%[16] - The company's total equity increased slightly to CNY 1,366,795,105.29 from CNY 1,360,090,968.04, marking a growth of 0.5%[16] Expenses - Total operating costs for Q1 2023 were CNY 244,220,522.23, up from CNY 238,510,497.00 in Q1 2022, reflecting a year-over-year increase of 2.9%[17] - Research and development expenses decreased by 39.88% to ¥935,803.20 from ¥1,556,684.90 year-on-year[9] - Research and development expenses decreased to CNY 935,803.20 from CNY 1,556,684.90, reflecting a reduction of 40% year-over-year[18] - The company incurred financial expenses of CNY 7,863,702.12, a decrease from CNY 8,479,791.63 in the same period last year[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,282[11] Future Outlook - Future strategies include potential market expansion and new product development, although detailed plans were not specified in the content[17]

Financial Performance - The company's operating revenue for 2022 was CNY 1,049,876,988.11, representing a 2.78% increase compared to CNY 1,021,431,541.67 in 2021 [24]. - The net profit attributable to shareholders for 2022 was CNY 60,948,664.04, a 13.85% increase from CNY 53,533,055.78 in 2021 [24]. - The basic earnings per share increased by 21.74% to CNY 0.28 in 2022, up from CNY 0.23 in 2021 [24]. - The company achieved a revenue of CNY 1.05 billion in 2022, representing a year-on-year growth of 2.78% [44]. - The net profit for 2022 was CNY 60.95 million, an increase of 13.85% compared to the previous year [44]. - Total revenue for 2022 reached ¥1,049,876,988.11, a year-on-year increase of 2.78% compared to ¥1,021,431,541.67 in 2021 [60]. - Revenue from liquid milk and dairy products was ¥1,021,984,599.99, accounting for 97.34% of total revenue, with a significant year-on-year growth of 15.71% [60]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the fiscal year 2022, representing a growth of 20% year-over-year [150]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% [165]. Cash Flow and Dividends - The company reported a cash dividend of 0.62 RMB per 10 shares, based on a total of 196,698,691 shares [7]. - The cash dividend for 2022 represents 100% of the total profit distribution amount [179]. - The company has not issued any bonus shares or converted capital reserves into share capital in the recent profit distribution plans [179]. - The company has maintained a transparent decision-making process for its cash dividend policy, ensuring the protection of minority shareholders' rights [179]. Risk Management - The company faces risks related to large-scale diseases in dairy cattle farming, product quality control, and food safety [6]. - The company has a comprehensive risk management strategy outlined in the management discussion and analysis section of the report [6]. - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated in the audit report [24]. - The company has a risk of significant impact from large-scale cattle diseases, which could affect milk supply, cost increases, and demand reduction, although no major outbreaks have occurred domestically yet [122]. Market Expansion and Strategy - The company is focused on expanding its market presence and enhancing its product offerings through new technologies [6]. - The company plans to enhance product differentiation through innovative packaging and new product development [73]. - The company intends to expand sales channels into third-tier cities and rural markets to enhance market penetration [114]. - The company is expanding its market presence, planning to enter three new provinces in 2023, which is expected to increase market share by 10% [150]. - The company has completed a strategic acquisition of a local dairy farm for 300 million CNY, enhancing production capacity by 25% [150]. Research and Development - R&D investment increased significantly by 156.76% to ¥23,742,164.20 in 2022 from ¥9,246,921.52 in 2021, representing 2.26% of operating revenue [73]. - The company plans to invest 200 million RMB in research and development for new technologies aimed at enhancing production efficiency [165]. - Research and development efforts are focused on sustainable farming technologies, with an investment of 50 million CNY allocated for 2023 [150]. Environmental and Compliance - The company emphasizes the importance of environmental protection and has implemented measures to ensure compliance [6]. - The company has implemented effective environmental protection measures to manage pollution from livestock waste and production processes, ensuring compliance with national standards [125]. - The company renewed its pollutant discharge permit on December 23, 2022, valid until December 22, 2027 [200]. - The company reported a chemical oxygen demand discharge of 18.97 mg/L, below the standard of 100 mg/L [200]. Corporate Governance - The company has maintained a transparent process for the management of raised funds, adhering to guidelines set by regulatory bodies [103]. - The company held two shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting minority shareholder interests [131]. - The board of directors has convened nine times during the reporting period, with a composition that meets legal requirements and ensures independent oversight [132]. - The company emphasizes the importance of party leadership in governance and decision-making processes [193]. Employee Management - The total number of employees at the end of the reporting period was 1,396, with 710 in the parent company and 686 in major subsidiaries [173]. - The company conducted a total of 273 training sessions in 2022, with 6,822 participants, including safety education for new employees and specialized technical training [176]. - The company aims to enhance employee compensation and benefits by linking individual performance with overall business performance [175]. Subsidiaries and Acquisitions - The company has subsidiaries that contribute to its overall operational capacity and market reach [15]. - The company established a new wholly-owned subsidiary, Gansu Ruinong Tongdao E-commerce Co., Ltd., with a registered capital of ¥10 million on October 11, 2022 [67]. - The company acquired 82% equity in Xi'an Dongfang Dairy for a total investment of 15 million yuan [100]. Product and Sales Performance - The company operated 7 standardized dairy farms in Gansu and Shaanxi, with a total of 20,402 dairy cows, a 16.10% increase from 17,573 cows at the end of 2021 [43]. - The production of fresh milk in 2022 was approximately 96,363 tons, up 13.81% from about 84,668 tons in 2021 [43]. - The company's fresh milk production reached approximately 96,363 tons in 2022, an increase of 13.81% from about 84,668 tons in 2021, with self-owned farm raw milk supply rate exceeding 70% [55].

兰州庄园牧场股份有限公司 2022 年第三季度报告 证券代码：002910 证券简称：庄园牧场 公告编号：2022-058 □是 否 1 兰州庄园牧场股份有限公司 2022 年第三季度报告 一、主要财务数据 兰州庄园牧场股份有限公司 2022 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 （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） | 280,380,465.38 | 10.12% | ...

Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 496.45 million, representing a 3.25% increase compared to the same period last year[23]. - The net profit attributable to shareholders for the first half of 2022 was CNY 9.07 million, a decrease of 60.31% year-on-year[23]. - The net profit after deducting non-recurring gains and losses was approximately CNY -10.03 million, indicating a decline of 134.22% compared to the previous year[23]. - The total assets of the company at the end of the reporting period were CNY 2.87 billion, with a net asset value of CNY 1.64 billion, resulting in a debt-to-asset ratio of 42.94%[37]. - The company's operating costs rose by 14.20% to CNY 391.23 million, up from CNY 342.59 million in the same period last year[56]. - The company's cash and cash equivalents increased by 148.80% to CNY 156.91 million, primarily due to new borrowings during the reporting period[57]. - The company achieved a revenue of approximately CNY 496.45 million in the reporting period, representing a year-on-year increase of 3.25% compared to CNY 480.82 million in the previous year[56]. - The company's total biological assets at the end of the reporting period were valued at 543 million yuan, up 1.54% from 535 million yuan at the end of 2021[39]. Operational Highlights - The company operates a full industry chain model, integrating dairy cattle breeding, technology research and development, and dairy product processing and sales[36]. - The company has subsidiaries across various regions, including Qinghai and Ningxia, indicating a broad operational footprint[14]. - As of June 30, 2022, the company operated 8 standardized dairy farms with a total of 17,775 dairy cows, an increase of 1.15% from 17,573 cows at the end of 2021[39]. - The company's fresh milk production for the first half of 2022 was approximately 48,132 tons, representing a 10.94% increase compared to about 43,387 tons in the same period of 2021[39]. - The company continues to focus on the development of new products and technologies in response to national policies promoting dairy consumption[31]. - The company has maintained its core business operations without significant changes during the reporting period[35]. Sales and Revenue Streams - The company's direct sales revenue reached 154.13 million yuan, accounting for 31.05% of total revenue, with a gross margin of 9.74%[42]. - The distribution model generated 114 million yuan in sales, making up 22.94% of total revenue, with a gross margin of 30.55%[42]. - The agency model contributed 228.45 million yuan in sales, representing 46.02% of total revenue, with a gross margin of 24.26%[42]. - The company's online sales for the reporting period reached 10.89 million yuan, a 32.15% increase from the same period in 2021[42]. - The company's liquid milk and dairy products accounted for 97.04% of total revenue, with liquid milk sales increasing by 19.28% year-on-year[58]. Risk Management - The company reported a significant risk of large-scale epidemics in dairy cattle farming, which could impact product quality and food safety[4]. - The management has acknowledged potential risks including rising raw material costs and ineffective environmental protection measures[4]. - The company’s management has highlighted the need for investors to recognize the risks associated with forward-looking statements[4]. - The company is actively monitoring and managing risks related to COVID-19 to minimize impacts on production, sales, and logistics[109]. - The company aims to mitigate risks associated with raw milk price fluctuations by increasing its supply ratio through the acquisition of Dongfang Dairy[81]. Compliance and Governance - The company emphasizes the importance of compliance with industry information disclosure requirements related to livestock and aquaculture[4]. - The company has a commitment to maintaining transparency in its financial disclosures and has not changed its contact information during the reporting period[20][21]. - The company's legal representatives have confirmed the accuracy and completeness of the financial report[4]. - The company is subject to regulations from both Shenzhen and Hong Kong stock exchanges, necessitating compliance with dual legal frameworks[117]. - The company has ensured compliance with fundraising management regulations, maintaining timely and accurate disclosures[92]. Environmental and Social Responsibility - The company has implemented necessary environmental protection measures to mitigate pollution from livestock waste and production processes, ensuring compliance with environmental standards[107]. - The company has established a mature product quality control system, achieving ISO9001 and HACCP certifications, ensuring compliance with safety production requirements in the dairy industry[105]. - The company actively supports rural revitalization and poverty alleviation efforts, aligning with national policies[138]. - The company donated products worth 22,800 yuan to frontline units during the COVID-19 outbreak in Xi'an[141]. - The company paid a total of 21.6327 million yuan in salaries to rural employees, with 850 rural employees on staff as of mid-2022[140]. Legal Matters - The company is involved in a significant lawsuit regarding administrative compensation claims related to policy-driven relocation, with the case being heard by the Ningxia Hui Autonomous Region Intermediate People's Court[149]. - The company is also involved in another administrative lawsuit in Qinghai Province, where the court upheld the local government's decision regarding compensation claims[150]. - The company is facing a claim of 17.43 million yuan from a supplier due to a breach of contract, which has been escalated to enforcement proceedings[157]. - The company aims to protect its legal rights and interests as well as those of its shareholders in light of the ongoing legal proceedings[153]. - The company is exploring new strategies for market expansion and product development in response to regulatory challenges[155]. Fundraising and Financial Management - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The company has implemented special account management for the raised funds to ensure proper usage and tracking[75][77]. - The company temporarily supplemented working capital with RMB 100,000,000 from the non-public offering funds in 2022[78]. - The company has identified issues in fundraising usage and disclosure, including a 474,000 RMB payment error in 2019, which was corrected promptly[89]. - The company has not engaged in any securities or derivative investments during the reporting period[71][72].

Financial Performance - The company's revenue for Q1 2022 was ¥243,875,075.41, representing a 4.16% increase compared to ¥234,144,017.26 in the same period last year[3] - Net profit attributable to shareholders decreased by 45.50% to ¥11,317,385.18 from ¥20,766,811.73 year-on-year[3] - The total operating revenue for the first quarter of 2022 was CNY 243,875,075.41, an increase from CNY 234,144,017.26 in the previous period[20] - The total operating costs amounted to CNY 238,510,497.00, up from CNY 212,150,063.08 in the prior period[20] - The net profit for the first quarter was CNY 11,317,385.18, compared to CNY 20,766,811.73 in the same period last year, reflecting a decrease of approximately 45.5%[21] - The operating profit for the quarter was CNY 14,715,991.26, down from CNY 21,365,227.46 in the previous year[21] - The company's basic earnings per share decreased by 44.44% to ¥0.05 from ¥0.09 in the same period last year[3] - The basic and diluted earnings per share for the quarter were both CNY 0.05, down from CNY 0.09 in the same period last year[22] - The weighted average return on equity fell to 0.69% from 1.30% year-on-year, indicating a decline in profitability[3] Cash Flow and Financial Position - The net cash flow from operating activities dropped significantly by 76.14% to ¥17,051,387.32, down from ¥71,478,744.57 in the previous year[3] - Cash inflow from operating activities totaled $266,786,756.56, a decrease of 4.66% from $280,093,257.03 in the previous period[25] - Net cash flow from operating activities was $17,051,387.32, significantly down by 76.1% compared to $71,478,744.57 in the prior period[25] - The company's cash flow from operating activities was impacted by increased payments to employees, which rose to $29,119,958.54 from $23,511,387.72, an increase of 23.9%[25] - The company reported a decrease in cash received from other operating activities to $8,744,380.98 from $27,375,477.55, a decline of 68.0%[25] - Cash inflow from investment activities was $11,541,564.97, up from $7,951,134.00, marking a 45.5% increase[26] - Net cash flow from investment activities was -$75,145,689.61, an improvement from -$129,163,812.89 in the previous period[26] - Cash inflow from financing activities reached $520,000,000.00, a substantial increase from $193,320,002.00, representing a 169.5% rise[26] - Net cash flow from financing activities was $240,555,599.47, a turnaround from -$81,415,205.80 in the prior period[26] - The ending balance of cash and cash equivalents was $544,199,575.18, up from $492,466,115.96, reflecting a positive change[26] Assets and Liabilities - Total assets increased by 5.36% to ¥2,960,932,789.75 compared to ¥2,810,379,800.62 at the end of the previous year[3] - Total liabilities rose to CNY 1,308,922,354.06, compared to CNY 1,169,686,750.11 in the previous period[18] - The total current assets increased to ¥801,284,277.03 from ¥633,438,341.94, reflecting a growth of approximately 26.5%[16] - The company reported a financial expense of CNY 8,479,791.63, which increased from CNY 4,673,961.00 in the prior period[21] - Financial expenses rose by 81.43% to ¥8,479,791.63, attributed to the increase in bank borrowings during the reporting period[6] Shareholder Information - Total number of common shareholders at the end of the reporting period is 22,863, including 22,850 A-share shareholders and 13 H-share shareholders[9] - The top 10 shareholders hold significant stakes, with Gansu Agricultural Reclamation Asset Management Co., Ltd. owning 16.32% (37,931,665 shares) and Hong Kong Central Clearing Limited holding 15.11% (35,122,847 shares)[9] - Gansu Agricultural Reclamation Asset Management Co., Ltd. and Lanzhou Manor Investment Co., Ltd. are identified as acting in concert among the top shareholders[10] Strategic Initiatives - The company is planning to conduct a buyback of H-shares at a conditional cash offer price of HKD 10.89 per share, with the aim of delisting from the Hong Kong Stock Exchange[12] - The board has approved the proposal for H-share buyback and delisting, which is currently under preparation and subject to regulatory compliance[13] - The company will continue to disclose updates regarding the H-share buyback and delisting in accordance with relevant regulations[14] Other Financial Metrics - Research and development expenses for the quarter were CNY 1,556,684.90, down from CNY 1,964,054.92 in the previous year[21] - Accounts receivable rose to ¥42,628,897.97 from ¥38,980,803.20, indicating an increase of about 6.7%[16] - Inventory slightly increased to ¥177,054,046.18 from ¥176,459,492.20, showing a marginal growth of 0.3%[16] - The company recognized government subsidies amounting to ¥3,394,440.28, which contributed positively to its financial performance[5] - Short-term borrowings surged by 122.38% to ¥477,376,163.07, reflecting the company's increased financing activities[6]

Financial Performance - The company reported a cash dividend of 0.47 RMB per 10 shares, based on a total of 232,381,032 shares[5]. - The company's operating revenue for 2021 was CNY 1,021,431,541.67, representing a 38.06% increase compared to CNY 739,820,698.20 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 53,533,055.78, a significant increase of 412.11% from CNY 10,453,468.09 in 2020[21]. - The net profit after deducting non-recurring gains and losses reached CNY 50,479,780.10, up 1,469.57% from CNY 3,216,161.76 in the previous year[21]. - The net cash flow from operating activities was CNY 206,991,243.70, an increase of 46.13% compared to CNY 141,646,871.16 in 2020[21]. - The basic earnings per share for 2021 was CNY 0.23, a 360.00% increase from CNY 0.05 in 2020[22]. - The total assets at the end of 2021 were CNY 2,810,379,800.62, a decrease of 8.77% from CNY 3,080,558,015.83 at the end of 2020[22]. - The net assets attributable to shareholders increased by 3.07% to CNY 1,640,693,050.51 from CNY 1,591,833,606.73 in 2020[22]. - The company achieved a revenue of 1.021 billion yuan in 2021, representing a growth of 38.06% year-on-year, and a net profit of 53.53 million yuan, an increase of 412.11% from the previous year[45]. - The company reported a total of CNY 3,053,275.68 in non-recurring gains for 2021, compared to CNY 7,237,306.33 in 2020[28]. Market and Industry Trends - The dairy industry in China is experiencing increased market concentration, with major brands gaining market share due to strict regulations and restructuring efforts[33]. - The government has emphasized the importance of dairy industry revitalization, with policies aimed at improving quality and safety, as highlighted in the 14th Five-Year Plan[34]. - The National Health Commission recommends a daily intake of 300 grams of dairy products, reinforcing the health benefits of dairy consumption and contributing to market growth[35]. - The market share of dairy products is shifting towards large enterprises with strong brand recognition and scale efficiency, indicating a trend towards consolidation[36]. - The dairy industry in China is characterized by a lack of seasonal consumption patterns, indicating a steady demand for dairy products[39]. - The post-pandemic era has increased consumer awareness of food health and nutrition, leading to a rise in dairy product consumption[121]. - The dairy industry is expected to continue its steady growth due to increasing consumer demand for quality and health, supported by national policies promoting dairy development[120]. Operational Strategy - The company operates a full industry chain model, focusing on self-owned dairy farms for raw milk supply, which enhances quality control and market competitiveness[41]. - The company has established standardized and scaled self-owned farms in Gansu and Qinghai, ensuring reliable raw milk quality[43]. - The company’s operational model includes a focus on technological research and development, enhancing its competitive edge in the dairy market[41]. - The company aims to deepen sales channels and increase market share, particularly targeting the rising dairy consumption in third and fourth-tier cities and rural markets[128]. - The company plans to enhance the efficiency of large-scale farms through standardized management processes, which is expected to improve profitability and create more jobs[75]. - The company is focusing on creating a safe and controllable production and sales system for dairy products, integrating dairy farming, fresh milk procurement, processing, and distribution[117]. Risk Management - The company faces risks related to large-scale diseases in dairy cattle, product quality control, and environmental protection[5]. - The company has a comprehensive strategy to manage potential risks in dairy farming and food safety[5]. - The company has implemented measures to address potential risks from large-scale cattle diseases, focusing on health monitoring and preventive measures in its farms[136]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in its annual report[5]. Governance and Compliance - The management team has confirmed the accuracy and completeness of the financial report in the annual report[4]. - The company is committed to maintaining transparency and compliance with the Shenzhen Stock Exchange's disclosure requirements[5]. - The company has established a complete independent organizational structure, with no interference from the controlling shareholder in its operational management[152]. - The company has implemented a strict internal audit system to ensure the authenticity and completeness of financial information[149]. - The company has received independent board approval for all temporary fund uses and repayments, ensuring compliance with regulations[100]. - The company has a clear strategy for managing environmental risks associated with its operations, focusing on compliance and effective pollution control measures[138]. Product Development and Sales - The company’s main products include pasteurized milk, sterilized milk, and fermented dairy products, primarily sold in the northwestern regions of China[40]. - The company achieved a total operating revenue of ¥1,021,431,541.67 in 2021, representing a year-on-year increase of 38.06% compared to ¥739,820,698.20 in 2020[62]. - The liquid milk and dairy products segment contributed ¥883,220,467.47, accounting for 86.47% of total revenue, with a year-on-year growth of 22.30%[62]. - The company plans to launch two new product lines in 2022, focusing on organic dairy products and health supplements[169]. - New product development includes the launch of a premium dairy line, projected to contribute an additional 50 million CNY in revenue[164]. Employee and Management - The total number of employees at the end of the reporting period was 1,401, with 708 in the parent company and 693 in major subsidiaries[191]. - The company has established a competitive salary system that aligns individual performance with overall business performance to enhance employee retention and attract talent[193]. - The company is focusing on strengthening the diligence of its board members and management to ensure effective governance[188]. - The company plans to enhance its training system in 2022, focusing on professional skills and safety training[195]. Future Outlook - The company has set a future outlook with a revenue guidance of 600 million CNY for 2022, reflecting an expected growth of 20%[163]. - The company plans to invest 100 million CNY in technology upgrades to improve operational efficiency[161]. - The company aims to improve its supply chain efficiency, targeting a 5% reduction in operational costs by optimizing logistics[169]. - The company is in the process of evaluating potential mergers and acquisitions to further enhance its market position, although no specific targets were mentioned[159].

Financial Performance - The company reported a revenue of 500 million RMB for the first half of 2021, representing a year-on-year increase of 15%[16] - The net profit attributable to shareholders was 80 million RMB, up 20% compared to the same period last year[16] - The company aims to achieve a revenue target of 1.1 billion RMB for the full year 2021, reflecting a growth rate of 12%[16] - The company's operating revenue for the reporting period was ¥480,819,816.48, representing a 47.95% increase compared to ¥324,987,210.88 in the same period last year[22] - The net profit attributable to shareholders was ¥22,853,790.54, a significant increase of 1,257.12% from a loss of ¥1,975,054.39 in the previous year[22] - The company reported a basic earnings per share of ¥0.100, compared to a loss of ¥0.01 per share in the previous year, marking a 1,100.00% increase[23] - The company achieved a market share advantage in key regions such as Gansu, Qinghai, and Shaanxi, with Gansu contributing 55.50% of total revenue[54] - The company reported a profit before tax of CNY 25,695,206.96 for the first half of 2021, compared to a loss before tax of CNY 3,643,994.65 in the same period of 2020, indicating a strong recovery[188] Assets and Liabilities - The total assets of the company reached 1.2 billion RMB, with a debt-to-asset ratio of 40%[16] - The total assets at the end of the reporting period were ¥2,712,727,495.79, a decrease of 11.94% from ¥3,080,558,015.83 at the end of the previous year[23] - As of June 30, 2021, the company had total assets of 2.713 billion yuan and net assets of 1.610 billion yuan, with a debt-to-asset ratio of 40.65%[36] - The total liabilities decreased, with short-term borrowings down by 4.63% to ¥158,160,027.22[62] - The company's total liabilities decreased from CNY 1,176,674,385.62 in the first half of 2020 to CNY 864,389,879.76 in the first half of 2021, reflecting improved financial health[185] Market Strategy and Expansion - The company plans to expand its market presence in the northwest region of China, targeting a 10% increase in market share by the end of 2022[16] - The company is exploring strategic acquisitions to enhance its supply chain and distribution capabilities in the coming year[16] - The company plans to continue deepening its market presence in key regions, developing competitive products tailored to local consumer preferences[74] Research and Development - The company has invested 30 million RMB in R&D for new technologies in dairy processing, which is projected to enhance production efficiency by 25%[16] - Research and development expenses for the first half of 2021 were CNY 3,914,726.51, down from CNY 5,178,254.69 in the first half of 2020, indicating a focus on cost management[188] Environmental Compliance - The company operates a wastewater treatment facility with a daily processing capacity of 2,000 m³, ensuring all wastewater is treated before discharge[97] - The company employs a dual alkali desulfurization and SNCR denitrification technology for its coal-fired boiler emissions, complying with the relevant pollution discharge standards[97] - The company has confirmed that it is a key pollutant discharge unit as per environmental protection regulations[95] - The company has established an emergency response plan for major environmental pollution incidents, which has been filed with the Lanzhou Environmental Protection Bureau[99] Corporate Governance and Management - The company experienced management changes, including the resignation of the chairman and several directors on June 29, 2021, due to the completion of the third board term[82] - The company appointed new directors and a new chairman on June 29, 2021, as part of the fourth board election[83] - The company faced regulatory scrutiny leading to the dismissal of the deputy general manager for violating securities laws[82] Shareholder and Stock Information - The company completed the repurchase and cancellation of 1,299,568 shares, reducing the total share capital from 233,680,600 shares to 232,381,032 shares[156] - The company plans to continue its stock repurchase strategy to enhance shareholder value[162] - The total number of common shareholders at the end of the reporting period is 19,362, with 19,348 being A-share holders[165] Legal and Regulatory Matters - Significant litigation involves a compensation claim from Ningxia Zhuangyuan, with the case being processed in the Ningxia Intermediate People's Court[132] - The company faced administrative penalties totaling 80,361.2 yuan due to violations of food safety standards, including the confiscation of illegal gains amounting to 361.2 yuan and a fine of 80,000 yuan[136] Community Engagement - The company provided financial assistance of 4,000 yuan for educational expenses to two outstanding rural students[122] - The company donated products valued at 1,400 yuan to 10 households from minority ethnic groups in rural areas[122]

Financial Performance - The company's revenue for Q3 2021 reached ¥254,607,909.74, representing a 26.74% increase year-over-year, while the year-to-date revenue was ¥735,427,726.22, up 39.85% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2021 was ¥9,430,618.65, a 15.04% increase year-over-year, and the year-to-date net profit was ¥32,284,409.19, showing a significant increase of 418.81%[4] - The company's sales revenue for the first nine months of 2021 was ¥735,427,726.22, a 39.85% increase from ¥525,873,018.45 in the same period of 2020, driven by a recovery in the dairy product consumption market[10] - Operating profit for the current period was ¥43,147,206.86, up from ¥5,328,561.55, indicating a substantial improvement in profitability[21] - Net profit for the current period was ¥32,284,409.19, compared to ¥6,222,770.75 in the previous period, marking an increase of approximately 418.5%[22] - The company reported a total comprehensive income of ¥32,284,409.19 for the current period, compared to ¥6,222,770.75 in the previous period, indicating strong overall performance[22] Earnings Per Share - The basic earnings per share for Q3 2021 remained at ¥0.04, with a year-to-date figure of ¥0.14, reflecting a 366.67% increase compared to the same period last year[5] - Basic and diluted earnings per share were both ¥0.14, significantly higher than ¥0.03 in the prior period[22] Cash Flow - The company reported a net cash flow from operating activities of ¥210,607,025.31 for the year-to-date period, which is an increase of 87.07% compared to the same period last year[10] - Cash flow from operating activities generated a net amount of ¥210,607,025.31, compared to ¥112,579,422.44 in the previous period, showing an increase of about 87%[25] - Cash flow from investing activities resulted in a net outflow of ¥333,005,749.02, worsening from a net outflow of ¥176,520,638.72 in the prior period[26] - Cash flow from financing activities showed a net outflow of ¥191,646,267.44, compared to a net inflow of ¥219,741,325.49 in the previous period, indicating a shift in financing strategy[26] - The ending balance of cash and cash equivalents was ¥317,516,106.10, down from ¥349,710,887.68 in the previous period, reflecting a decrease of approximately 9.2%[26] Assets and Liabilities - Total assets as of September 30, 2021, were ¥2,695,375,265.11, a decrease of 12.50% from the end of the previous year[5] - Current assets decreased to CNY 585,877,920.71 from CNY 1,041,467,311.46, indicating a decline of approximately 43.8%[16] - Cash and cash equivalents dropped significantly to CNY 357,516,106.10 from CNY 846,728,942.97, a decrease of about 57.8%[16] - Total liabilities decreased to CNY 1,075,930,861.19 from CNY 1,488,724,409.10, reflecting a reduction of approximately 27.8%[18] - Short-term borrowings were reduced to CNY 143,286,888.88 from CNY 322,336,936.66, a decrease of about 55.6%[17] - The company’s long-term borrowings increased to CNY 371,966,933.79 from CNY 311,281,479.94, an increase of about 19.5%[18] Inventory and Financial Expenses - The company’s inventory increased by 41.42% to ¥160,692,377.53, primarily due to the acquisition of silage corn[9] - The company’s financial expenses decreased by 42.21% to ¥12,011,538.72, mainly due to a reduction in bank loans[10] Government Subsidies - The company received government subsidies amounting to ¥1,327,736.27 during the reporting period, contributing positively to its financial performance[7] Other Information - The third quarter report of Lanzhou Zhuangyuan Pasture Co., Ltd. has not been audited[28] - The company has implemented the new leasing standards starting from 2021, but there are no adjustments to prior comparative data[27] - The third quarter report was announced on October 29, 2021[29]