证券代码：002942 证券简称：新农股份 公告编号：2023-021 浙江新农化工股份有限公司（以下简称"公司"）《2022 年年度报告》全文及 其摘要、《2023 年第一季度报告》已于 2023 年 4 月 28 日在公司指定信息披露媒 体《证券时报》和巨潮资讯网（www.cninfo.com.cn）上披露。为便于广大投资者 更深入、全面地了解公司的经营业绩、发展战略等情况，公司定于 2023 年 5 月 17 日（星期三）15:00-17:00 采用网络方式举办 2022 年度暨 2023 年第一季度网 上业绩说明会，具体情况如下： 浙江新农化工股份有限公司 关于举行 2022 年度暨 2023 年第一季度 网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 会议召开时间：2023 年 5 月 17 日（星期三）15:00-17:00 会议召开方式：网络互动方式 会议召开地点：价值在线（www.ir-online.cn） 会议问题征集：投资者可于 2023 年 5 月 17 日（周三）前访问网址 https://eseb ...

Financial Performance - The company's operating revenue for 2022 was ¥1,248,167,151.74, an increase of 7.36% compared to ¥1,162,570,966.46 in 2021 [21]. - The net profit attributable to shareholders for 2022 was ¥101,410,374.57, a decrease of 26.45% from ¥137,873,663.39 in 2021 [21]. - The net profit after deducting non-recurring gains and losses was ¥91,869,007.68, down 22.56% from ¥118,628,109.74 in 2021 [21]. - The net cash flow from operating activities was ¥138,071,733.77, a decline of 34.73% compared to ¥211,552,468.06 in 2021 [21]. - The total assets at the end of 2022 were ¥1,640,813,247.21, reflecting a growth of 5.66% from ¥1,552,881,288.43 at the end of 2021 [21]. - The weighted average return on equity decreased to 8.79% in 2022, down 3.55 percentage points from 12.34% in 2021 [21]. - The total revenue for 2022 was CNY 1,248.17 million, representing a year-on-year increase of 7.36% [69]. - The pesticide sector generated CNY 1,212.62 million in revenue, up 8.33% from the previous year, making up 97.15% of total revenue [69]. - The company's gross margin in the pesticide sector decreased by 5.53 percentage points to 25.13% [72]. Risk Management - The company emphasizes the importance of risk awareness regarding environmental risks and market competition risks that may lead to profit decline [4]. - The company has a comprehensive risk management strategy in place to address potential risks [4]. - The company's financial performance and future outlook are subject to market conditions and investor awareness of risks [4]. - The risk management strategy includes a focus on hedging against currency fluctuations, which has been effective in mitigating potential losses [99]. - The company faces market competition risks, with 1,705 pesticide manufacturers in China, and plans to enhance product innovation and efficiency to mitigate these risks [130]. - Raw material price fluctuations pose a significant risk to the company's operating results, and the company will strengthen procurement controls to manage costs [131]. Corporate Governance - The company has a governance structure that includes a board of directors with independent members, ensuring effective decision-making and risk management [141]. - The company maintains complete independence in assets, personnel, finance, organization, and business from its controlling shareholders and actual controllers [143]. - The company has a dedicated financial department with an independent accounting system, ensuring autonomous financial decision-making and tax compliance [146]. - The company has a complete business system with independent production, supply, sales, and R&D capabilities, avoiding any unfair related transactions with controlling shareholders [148]. - The company held four shareholder meetings during the reporting period, with investor participation rates of 72.98%, 71.37%, 73.06%, and 71.52% respectively [149]. Research and Development - The company has a complete research and development, production, and sales system, allowing for independent operation based on customer needs [39]. - The company is actively engaged in research and development of new products and technologies to strengthen its market position [47]. - The company has established a comprehensive R&D system through collaborations with universities and research institutions [65]. - The company invested CNY 70.24 million in R&D during the reporting period, accounting for 5.63% of total revenue [65]. - Research and development expenses decreased by 7.24% to ¥70,237,536.36, accounting for 5.63% of operating revenue [84]. Environmental Compliance - The company strictly adheres to environmental protection laws and regulations, including the Environmental Protection Law of the People's Republic of China [190]. - The company has established a series of environmental management systems and emergency response plans for pollution incidents, ensuring compliance with national laws and industry standards [194]. - The wastewater treatment system includes a new catalytic wet oxidation pre-treatment facility, which has been operational since 2021, ensuring compliance with discharge standards [195]. - The company has implemented a two-stage waste gas treatment process, utilizing resin adsorption and UV photocatalytic oxidation for pre-treatment, followed by centralized treatment to meet emission standards [196]. - The company has installed an online monitoring system for major pollutants such as sulfur dioxide and nitrogen oxides at the waste gas discharge outlet, enhancing real-time monitoring capabilities [197]. Market Strategy - The company is focused on expanding its production capabilities and enhancing its product offerings in the pesticide sector [46]. - The company is expanding its market presence through strategic acquisitions and partnerships, aiming for a 10% increase in market share by the end of the fiscal year [99]. - The company plans to enhance its marketing management and expand its product line, focusing on core crops and strategic new products [123]. - The company aims to become a leading agricultural technology enterprise in China, focusing on differentiated strategies and integrating chemical and biological pesticides [122]. - The company is exploring strategic acquisitions to enhance its market position and expand its product offerings in the chemical sector [109]. Shareholder Returns - The company reported a total share capital of 156,000,000 shares as of December 31, 2022, with a cash dividend of 2.50 RMB per 10 shares to all shareholders [5]. - The company has a total of 153,209,930 shares eligible for dividend distribution after accounting for repurchased shares [5]. - The total cash dividend for 2022, including other methods such as share repurchase, amounts to 42,820,272.80 CNY, representing 100% of the distributable profit of 541,922,894.87 CNY [177]. - The company has established a clear profit distribution policy in accordance with relevant regulations, ensuring shareholder interests are maintained [176]. - There were no adjustments made to the existing profit distribution policy during the reporting period, despite the company being profitable [177].

Financial Performance - The company's revenue for Q1 2023 was ¥275,296,537.41, a decrease of 11.16% compared to ¥309,867,486.10 in the same period last year[5] - Net profit attributable to shareholders was ¥10,792,398.23, down 70.41% from ¥36,471,489.16 year-on-year[5] - Basic and diluted earnings per share were both ¥0.07, a decrease of 69.57% from ¥0.23 in the same period last year[5] - The company reported a net profit margin of approximately 2.4% for Q1 2023, down from 13.3% in the previous year[18] - In Q1 2023, the net profit of Zhejiang Xinong Chemical Co., Ltd. was CNY 10,792,398.23, a decrease of 70.4% compared to CNY 36,471,489.16 in Q1 2022[19] - The total revenue from operating activities was CNY 227,429,761.91, slightly down from CNY 231,668,313.99 in the previous year[21] - The company reported a total comprehensive income of CNY 12,205,073.17, down from CNY 39,706,835.02 in Q1 2022[20] Cash Flow and Assets - The net cash flow from operating activities was -¥54,289,133.02, compared to -¥20,578,020.79 in the previous year, indicating a significant decline[10] - Cash and cash equivalents decreased to CNY 106,838,210.58 from CNY 153,244,257.70 at the beginning of the year, representing a decline of 30.4%[15] - The cash and cash equivalents at the end of the period were CNY 69,896,449.77, down from CNY 101,961,527.55 at the end of Q1 2022[22] - The company incurred a total of CNY 281,718,894.93 in cash outflows from operating activities, compared to CNY 252,246,334.78 in Q1 2022[21] - The investment activities generated a net cash flow of CNY 10,022,473.02, recovering from a negative cash flow of CNY -4,587,958.59 in the previous year[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,591,215,090.44, down 3.02% from ¥1,640,813,247.21 at the end of the previous year[5] - Total assets as of March 31, 2023, were CNY 1,591,215,090.44, down from CNY 1,640,813,247.21 at the beginning of the year, indicating a decrease of 3.0%[17] - Total liabilities decreased to CNY 407,236,799.52 from CNY 469,544,003.54, a decline of 13.3%[17] - The company's equity attributable to shareholders increased to CNY 1,183,978,290.92 from CNY 1,171,269,243.67, an increase of 1.0%[17] Operational Costs and Expenses - Total operating costs for Q1 2023 were CNY 269,917,998.89, slightly up from CNY 268,448,068.54 year-on-year[18] - The company’s income tax expense decreased by 80.74% to ¥1,631,804.35, reflecting a reduction in profit[10] - The company’s tax expenses for the quarter were CNY 1,631,804.35, significantly lower than CNY 8,470,415.10 in the same period last year[19] - Research and development expenses increased to CNY 18,524,154.33, up from CNY 17,330,948.12, indicating a focus on innovation[19] Market Strategy - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[16] Other Financial Metrics - The weighted average return on equity was 0.92%, a decrease of 2.23 percentage points from 3.15% in the previous year[5] - The company experienced a 54.84% increase in prepayments, totaling ¥14,464,308.22, primarily due to increased advance payments to suppliers[10] - The company reported a significant increase in derivative financial assets, rising 237.73% to ¥684,823.00 due to changes in the fair value of forward foreign exchange products[9] - Accounts receivable increased to CNY 167,261,948.75 from CNY 137,657,884.84, reflecting a growth of 21.5%[16] - Inventory decreased to CNY 148,935,962.85 from CNY 155,178,107.63, a reduction of 4.0%[16]

Financial Performance - The company's revenue for Q3 2022 reached ¥316,512,220.96, representing a 25.35% increase year-over-year[5] - Net profit attributable to shareholders decreased by 16.20% to ¥20,766,125.92 for Q3 2022, while the net profit excluding non-recurring items increased by 7.52% to ¥22,978,434.64[5] - Total operating revenue for the current period reached ¥1,018,031,597.00, an increase of 17.1% compared to ¥869,188,652.37 in the previous period[17] - Net profit for the current period was ¥119,678,202.06, reflecting a slight increase of 1.4% from ¥118,025,665.35 in the previous period[18] - Total profit for the current period was ¥136,793,844.45, a slight increase from ¥134,030,548.86 in the previous period[18] - The company’s total comprehensive income for the current period was ¥130,990,425.88, slightly up from ¥130,389,083.78 in the previous period[18] Assets and Liabilities - Total assets increased by 10.13% to ¥1,710,242,875.92 compared to the end of the previous year[5] - The company's total assets as of September 30, 2022, are CNY 1,710,242,875.92, an increase from CNY 1,552,881,288.43 at the beginning of the year[15] - The total current assets amount to CNY 958,792,891.94, up from CNY 872,093,066.83 at the beginning of the year[14] - The total non-current assets are CNY 751,449,983.98, compared to CNY 680,788,221.60 at the start of the year[15] - The total liabilities as of September 30, 2022, are CNY 520,639,399.41, an increase from CNY 413,485,841.39 at the beginning of the year[15] Shareholder Information - The total number of common shareholders at the end of the reporting period is 8,374[12] - Zhejiang Xinhui Investment Co., Ltd. holds 54.50% of the shares, amounting to 85,020,000 shares[12] - The company's equity attributable to shareholders is CNY 1,189,603,476.51, up from CNY 1,139,395,447.04[16] - The company has a total of 0 preferred shareholders at the end of the reporting period[13] Cash Flow - The company reported a net cash flow from operating activities of ¥179,932,690.68, an increase of 10.37% year-to-date[5] - Operating cash flow net amount was ¥179,932,690.68, an increase of 10.8% compared to ¥163,032,297.12 in the last period[20] - The company reported a net cash outflow from investing activities of ¥93,963,858.95, an improvement from a net outflow of ¥174,715,222.98 in the previous period[20] - The net cash flow from investing activities improved by 46.22%, reducing the outflow to ¥93,963,858.95[11] Expenses - Total operating costs amounted to ¥889,695,620.48, up 18.6% from ¥750,314,146.59 in the prior period[17] - Research and development expenses decreased to ¥54,044,201.97 from ¥61,074,669.79, a reduction of 11.5%[17] - The company's financial expenses showed a significant negative change of 503.77%, primarily due to exchange rate fluctuations resulting in foreign exchange gains[10] Equity and Returns - The company’s total equity attributable to shareholders increased by 4.41% to ¥1,189,603,476.51 compared to the end of the previous year[5] - The weighted average return on equity decreased by 0.4 percentage points to 1.76% for Q3 2022[5] - Basic and diluted earnings per share for the current period were both ¥0.7672, compared to ¥0.7566 in the previous period, indicating a growth of 1.4%[18] Accounts Receivable - Accounts receivable rose by 69.89% to ¥183,103,891.73, attributed to expanded sales and the activation of annual credit lines[10] - The accounts receivable increased to CNY 183,103,891.73 from CNY 107,779,711.28 at the beginning of the year[14] Cash and Cash Equivalents - Cash and cash equivalents at the end of the period totaled ¥117,362,762.94, down from ¥134,941,277.82 in the previous period[20] - The cash and cash equivalents amount to CNY 170,343,852.24, compared to CNY 161,706,358.07 at the beginning of the year[14]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥701,519,376.04, representing a 13.76% increase compared to ¥616,683,917.39 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥98,912,076.14, up 6.08% from ¥93,245,955.15 in the previous year[21]. - The net cash flow from operating activities increased by 60.06% to ¥98,321,963.84, compared to ¥61,428,044.55 in the same period last year[21]. - The total assets at the end of the reporting period were ¥1,689,705,220.62, an increase of 8.81% from ¥1,552,881,288.43 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were ¥1,163,994,615.77, reflecting a 2.16% increase from ¥1,139,395,447.04 at the end of the previous year[21]. - Basic earnings per share rose to ¥0.63, a 5.00% increase from ¥0.60 in the same period last year[21]. - The diluted earnings per share also increased to ¥0.63, up 5.00% from ¥0.60 in the previous year[21]. - The weighted average return on net assets was 8.32%, slightly down from 8.39% in the previous year[21]. Revenue and Market Growth - The company achieved operating revenue of 701.52 million yuan, representing a year-on-year growth of 13.76%[29]. - The net profit attributable to the parent company was 98.91 million yuan, with a year-on-year increase of 6.08%[29]. - The industrial products business revenue reached 421 million yuan, showing a year-on-year growth of 19.61%[30]. - The company reported a significant increase in foreign sales, with revenue from international markets reaching ¥189,386,147.06, up 13.79% from the previous year[60]. - The company plans to launch two new product lines in the next quarter, focusing on eco-friendly agricultural chemicals, aiming to capture a larger market share[133]. - Future outlook remains positive, with management guiding for a revenue target of 3 billion yuan for the full year, reflecting an anticipated growth rate of 20%[133]. Research and Development - Research and development investment amounted to 36.08 million yuan, with a total of 79 patent certificates obtained[31]. - The company is investing 50 million yuan in R&D for new technologies aimed at improving product efficacy and sustainability[133]. - The company has developed several key projects under national technology plans, including the clean production process of Thiazole Zinc and the industrialization of various pesticide formulations, achieving domestic leading and internationally advanced production technology[49]. Environmental and Safety Management - The company has established a complete safety and environmental management system, enhancing its management level[32]. - The company is committed to sustainable development and has implemented strict monitoring mechanisms for safety and environmental responsibilities[32]. - The company emphasizes safety and environmental protection, implementing a comprehensive management system and developing green synthesis processes that have won national awards[56]. - The company has implemented measures to ensure that its emissions of ammonia nitrogen and chemical oxygen demand are within regulatory limits[108]. - The company has installed a resin pre-treatment system, MVR concentration system, and a biochemical treatment system to enhance wastewater treatment capabilities[112]. - The company conducts regular emergency drills for environmental incidents, with at least two drills per year to ensure preparedness[117]. Market Competition and Risks - The company acknowledges risks such as environmental and market competition that may impact profit margins[3]. - The company faces market competition risks due to the presence of over 2,000 domestic pesticide manufacturers, including more than 500 raw material producers, which intensifies competition[96]. - The company is at risk of raw material price fluctuations, which significantly impact operating costs and gross margins, and plans to enhance procurement control to mitigate these risks[97]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[4]. - The company has committed to not transferring or entrusting the management of its shares for 36 months post-IPO, with a limit on share reduction not exceeding 1% of total shares within three months after the lock-up period[130]. - The company will publicly disclose reasons for any failure to fulfill commitments made in the prospectus and will apologize to shareholders and investors[136]. Subsidiary Performance - The subsidiary Taizhou Xinnong Technology Co., Ltd. achieved operating income of 234.18 million yuan and net profit of 14.53 million yuan during the reporting period[90]. - The subsidiary Jiangsu Xinnong Chemical Co., Ltd. reported operating income of 167.66 million yuan and net profit of 4.87 million yuan[92]. - The subsidiary Zhejiang Xinnong Chemical Sales Co., Ltd. generated operating income of 198.30 million yuan and net profit of 4.46 million yuan[93].

Financial Performance - The company's revenue for Q1 2022 was CNY 309,867,486.10, representing a 13.96% increase compared to CNY 271,910,160.13 in the same period last year[5]. - Net profit attributable to shareholders for Q1 2022 was CNY 36,471,489.16, up 17.77% from CNY 30,968,599.28 in Q1 2021[5]. - The basic earnings per share for Q1 2022 increased by 15.00% to CNY 0.23, compared to CNY 0.20 in the previous year[5]. - Total operating revenue for Q1 2022 was 268,448,068.54 CNY, an increase from 240,147,784.77 CNY in Q1 2021, representing an increase of approximately 11.3%[18]. - Net profit for Q1 2022 reached 36,471,489.16 CNY, compared to 30,968,599.28 CNY in Q1 2021, reflecting a growth of about 17.9%[19]. - Operating profit for Q1 2022 was 44,885,075.58 CNY, up from 34,640,221.72 CNY in the same period last year, indicating an increase of approximately 29.6%[18]. - Total comprehensive income for Q1 2022 was 39,706,835.02 CNY, compared to 36,803,196.19 CNY in Q1 2021, an increase of approximately 7.8%[19]. - Basic and diluted earnings per share for Q1 2022 were both 0.23 CNY, up from 0.20 CNY in Q1 2021, reflecting a growth of 15%[19]. Assets and Liabilities - The total assets at the end of Q1 2022 were CNY 1,594,120,139.40, a 2.66% increase from CNY 1,552,881,288.43 at the end of the previous year[5]. - The total liabilities increased to ¥419,342,331.35 from ¥413,485,841.39, indicating a rise of 1.93%[15]. - The company's retained earnings grew to ¥583,865,704.39 from ¥547,394,215.23, an increase of 6.67%[15]. Cash Flow - The company's cash flow from operating activities for Q1 2022 was negative at CNY -20,578,020.79, slightly worse than CNY -19,785,743.29 in Q1 2021, reflecting a decrease of 4.00%[5]. - Cash flow from operating activities showed a net outflow of -20,578,020.79 CNY in Q1 2022, compared to -19,785,743.29 CNY in Q1 2021, indicating a worsening cash flow situation[22]. - Cash and cash equivalents at the end of Q1 2022 were 101,961,527.55 CNY, down from 171,075,562.35 CNY at the end of Q1 2021, a decrease of approximately 40.5%[22]. - Cash and cash equivalents decreased to ¥137,493,605.77 from ¥161,706,358.07, a decline of 15.00%[13]. Accounts Receivable and Inventory - Accounts receivable increased by 75.05% to CNY 188,668,993.55 due to significant sales in March 2022[9]. - Accounts receivable rose significantly to ¥188,668,993.55 from ¥107,779,711.28, marking an increase of 74.93%[13]. - Inventory levels increased to ¥153,887,001.21 from ¥148,395,464.40, showing a growth of 3.36%[13]. Other Income and Expenses - Other income increased by 251.92% to CNY 2,146,634.04, primarily due to an increase in government subsidies received[9]. - The company reported a significant increase in fair value gains of 412.83% to CNY 1,353,959.09, attributed to changes in the value of financial products held[9]. - The income tax expense for Q1 2022 rose by 164.25% to CNY 8,470,415.10, reflecting the increase in the company's profits[9]. - Research and development expenses for Q1 2022 were 17,330,948.12 CNY, slightly down from 18,484,345.96 CNY in Q1 2021, a decrease of about 6.2%[18]. - The company reported a total operating cost of 268,448,068.54 CNY in Q1 2022, an increase from 240,147,784.77 CNY in Q1 2021, representing an increase of about 11.7%[18]. - Other comprehensive income after tax for Q1 2022 was 3,235,345.86 CNY, down from 5,834,596.91 CNY in Q1 2021, a decrease of approximately 44.7%[19]. Shareholder Information - The number of common shareholders at the end of the reporting period was 10,608[11]. - Zhejiang Xinhui Investment Co., Ltd. holds a significant 54.50% stake in the company, making it the largest shareholder[11]. - The company reported a total of 85,020,000 unrestricted shares held by its largest shareholder, Zhejiang Xinhui Investment Co., Ltd.[11].

Financial Performance - The company's operating revenue for 2021 was ¥1,162,570,966.46, a decrease of 2.61% compared to 2020[19]. - The net profit attributable to shareholders for 2021 was ¥137,873,663.39, down 21.32% from the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥118,628,109.74, a decrease of 20.18% year-on-year[19]. - The net cash flow from operating activities increased by 50.10% to ¥211,552,468.06 in 2021[19]. - The total assets at the end of 2021 were ¥1,552,881,288.43, reflecting a growth of 15.02% compared to the end of 2020[19]. - The company reported a weighted average return on equity of 12.34%, down 5.32 percentage points from 2020[19]. - The company's formulation business generated revenue of 423 million yuan in 2021, representing a year-on-year growth of 18.84%[63]. - Total revenue for 2021 was approximately ¥1.16 billion, a decrease of 2.61% compared to ¥1.19 billion in 2020[70]. - The pesticide industry accounted for 96.29% of total revenue, with a revenue of approximately ¥1.12 billion, down 4.79% year-over-year[70]. Shareholder Information - The company reported a total share capital of 156,000,000 shares, with a cash dividend of 5.00 RMB per 10 shares (including tax) to be distributed to shareholders[4]. - The company has a total of 153,209,930 shares available for dividend distribution after deducting repurchased shares[4]. - The total cash dividend for 2021, including other methods such as share repurchase, reached 117,065,093 CNY, representing 100% of the distributable profit of 540,037,520.47 CNY[181]. - The cash dividend distribution plan for 2021 is subject to approval at the annual general meeting, ensuring transparency and shareholder engagement[184]. - The company has maintained a clear profit distribution policy to protect shareholder interests, with no changes made during the reporting period[179]. Risk Management - The company emphasizes the importance of risk awareness regarding potential environmental and market competition risks that could lead to profit declines[4]. - The company faces risks from raw material price fluctuations, which significantly impact operating costs and gross margins, and will strengthen procurement controls to mitigate these risks[134]. - The company recognizes the risk of market competition, especially with the entry of international pesticide giants, and will enhance product innovation and development to maintain its competitive edge[133]. - The company is focused on reducing safety production risks by implementing advanced automation and control technologies in its production processes[135]. Research and Development - The company invested 75.72 million yuan in R&D in 2021, an increase of 21.39% compared to the previous year, and obtained 15 authorized patents[65]. - The company has a robust pipeline of new product development, leveraging its proprietary technologies and patents to enhance product efficacy and safety[46]. - The company plans to increase R&D investment and strengthen its innovation capabilities by attracting high-quality talent and collaborating with universities and research institutions[128]. - The company has committed to using the raised funds for specific investment projects, ensuring compliance with regulatory requirements[101]. Environmental Management - The company is dedicated to environmental protection and aims to comply with stricter environmental standards while minimizing pollution through innovative technologies[136]. - The company confirmed that it is a key pollutant discharge unit as per environmental protection department announcements[196]. - The company’s VOCs emissions were recorded at 9.750 tons, which also complied with the emission standards[196]. - The company has established a dedicated environmental management department and complies with environmental regulations, including timely payment of environmental taxes[198]. Governance and Management - The company's governance structure includes a shareholders' meeting, board of directors, supervisory board, and management team, ensuring effective decision-making and checks and balances[142]. - The board of directors consists of 9 members, including 3 independent directors, enhancing operational efficiency and risk management[142]. - The company has established a comprehensive internal control system that covers all aspects of its operations, effectively mitigating various risks[143]. - The company maintains complete independence in assets, personnel, finance, organization, and business from its controlling shareholders[145]. Market Position and Strategy - The global crop protection market is projected to reach $66.7 billion by 2023, with a compound annual growth rate of 3% from 2018 to 2023[29]. - The company focuses on the development of environmentally friendly biopesticides in response to increasing environmental concerns and regulatory pressures[30]. - The company aims to enhance its market share and expand its core crop market by focusing on differentiated strategies and developing new product lines for high-quality growth[127]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach[115]. Employee and Workforce Management - The total number of employees at the end of the reporting period was 1,310, with 394 in the parent company and 916 in major subsidiaries[175]. - The company implemented a comprehensive labor contract system, ensuring compliance with national labor laws and providing social insurance for all employees[177]. - A multi-level training program was established to support employee growth and development, including management, technical, and new employee training[178]. - The professional composition included 675 production personnel, 170 sales personnel, and 156 technical personnel[175].

Financial Performance - The company's revenue for Q3 2021 was ¥252,504,734.98, a decrease of 12.65% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2021 was ¥24,779,710.20, down 50.27% year-on-year[3]. - The net profit excluding non-recurring items for Q3 2021 was ¥21,370,440.35, a decline of 52.16% compared to the previous year[3]. - Total operating revenue for the period was CNY 869,188,652.37, a decrease of 9.7% compared to CNY 962,259,640.70 in the previous period[20]. - Net profit for the period was CNY 118,025,665.35, representing a decline of 28.7% from CNY 165,714,082.57 in the previous period[21]. - Earnings per share (basic and diluted) decreased to CNY 0.7566 from CNY 1.0623 in the previous period[22]. Assets and Liabilities - The total assets as of September 30, 2021, reached ¥1,552,713,233.26, reflecting a 15.01% increase from the end of the previous year[3]. - The company's total assets as of September 30, 2021, amount to CNY 1,552,713,233.26, an increase from CNY 1,350,057,453.24 at the end of 2020[16]. - The total liabilities as of September 30, 2021, are CNY 370,619,204.77, compared to CNY 263,905,972.78 at the end of 2020[17]. - Total liabilities rose to CNY 392,267,592.03, compared to CNY 284,000,895.79 in the previous period, reflecting increased financial obligations[21]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥163,032,297.12, an increase of 106.09% compared to the same period last year[10]. - The net cash flow from operating activities for Q3 2021 was ¥163,032,297.12, an increase of 106.5% compared to ¥79,106,423.42 in Q3 2020[24]. - The total cash outflow from investing activities was ¥570,631,828.76, down 17.8% from ¥694,262,022.96 in the previous year[24]. - The net cash flow from investing activities was -¥174,715,222.98, worsening from -¥75,922,882.40 in Q3 2020[24]. - The cash flow from financing activities showed a net outflow of -¥51,477,306.38, slightly improved from -¥53,833,516.51 in the same quarter last year[24]. Shareholder Information - The company's total equity attributable to shareholders was ¥1,160,445,641.23, an increase of 8.85% from the end of the previous year[3]. - The total number of common shareholders at the end of the reporting period is 11,921[12]. - Zhejiang Xinhui Investment Co., Ltd. holds 54.50% of shares, totaling 85,020,000 shares[12]. Investment and Expenses - The company's investment income for the first nine months of 2021 was ¥13,961,293.71, an increase of 87.01% year-on-year[10]. - The company's financial expenses decreased by 37.13% to ¥3,017,979.66 for the first nine months of 2021[10]. - Research and development expenses increased to CNY 61,074,669.79, up from CNY 47,006,684.18 in the previous period, indicating a focus on innovation[21]. Other Financial Metrics - The weighted average return on equity decreased by 2.68 percentage points to 2.16% for Q3 2021[3]. - Deferred income tax liabilities increased to CNY 13,829,879.23 from CNY 11,648,099.51, indicating potential future tax obligations[21]. - Other comprehensive income after tax for the period was CNY 12,363,418.43, compared to CNY 4,848,058.33 in the previous period, reflecting improved financial performance in this area[22]. Future Plans - The company plans to repurchase shares with a total fund of no less than CNY 40 million and not exceeding CNY 80 million[15]. - The company has a plan to expand its market presence through new product development and strategic acquisitions[13]. Audit Status - The Q3 2021 report was not audited, indicating that the figures may be subject to further verification[26].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥616,683,917.39, a decrease of 8.39% compared to ¥673,173,770.63 in the same period last year[21]. - The net profit attributable to shareholders was ¥93,245,955.15, down 19.54% from ¥115,886,995.09 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥83,185,216.04, a decline of 23.37% compared to ¥108,561,302.57 in the same period last year[21]. - The basic earnings per share decreased to ¥0.780, down 19.59% from ¥0.970 in the same period last year[21]. - The diluted earnings per share also fell to ¥0.780, a decrease of 19.59% compared to ¥0.970 in the previous year[21]. - The weighted average return on equity was 8.39%, down from 11.85% in the same period last year, a decline of 3.46%[21]. - The company's total revenue for the reporting period was ¥616,683,917.39, representing a decrease of 8.39% compared to ¥673,173,770.63 in the previous year[58]. - The company's net cash flow from operating activities increased significantly by 226.94%, reaching ¥61,428,044.55, compared to ¥18,788,677.56 in the previous year[21]. Research and Development - Research and development investment for the reporting period was 39.82 million yuan, resulting in the acquisition of 60 patent certificates, including 40 invention patents[31]. - The company's R&D investment increased by 31.77% to ¥39,824,328.33, up from ¥30,222,372.74 in the previous year[59]. - The company has accumulated 60 patent certificates, including 40 invention patents, enhancing its competitive edge in technology and innovation[48]. - The company is committed to developing differentiated green products to enhance its competitive advantage in the agricultural chemical market[31]. - The company focuses on the development of low-toxicity and high-efficiency products, particularly the thiazole zinc series, which has gained increasing market recognition and is included in the list of pesticides allowed for use in domestic green food production[45]. Market Expansion and Strategy - The company is actively developing overseas markets, particularly in Southeast Asia, to strengthen its competitive position[30]. - The company plans to expand its market presence by launching new products in Q3 2023, targeting a 20% increase in market share[172]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of the next fiscal year[181]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach[172]. - The company is exploring potential mergers and acquisitions to enhance its competitive edge in the market[178]. Environmental and Safety Management - The company has implemented a safety and environmental management system to ensure stable operations and compliance with regulations[32]. - Environmental protection is a priority, with the company focusing on clean production and compliance with national and local environmental standards[88]. - The company has established a series of environmental management systems and emergency response plans for pollution incidents, ensuring compliance with national laws and industry standards[100]. - The company has a wastewater treatment system that includes biochemistry and advanced oxidation processes, with daily monitoring conducted at least twice and third-party assessments[100]. - The company has a total of 72.96% investor participation in the 2020 annual general meeting held on May 25, 2021[92]. Financial Stability and Investments - The total assets at the end of the reporting period were ¥1,513,259,761.52, reflecting a growth of 12.09% from ¥1,350,057,453.24 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 6.13%, amounting to ¥1,131,410,814.74, compared to ¥1,066,056,557.45 at the end of the previous year[21]. - The company has engaged in derivative investments with a nominal principal of USD 26.72 million[75]. - The company has ongoing investments in construction projects, with capital expenditures in progress amounting to CNY 102,355,749.73, up from CNY 56,523,571.82, indicating a growth of about 81%[150]. - The company has engaged in entrusted wealth management with a total amount of 39,620,000 CNY, with an unexpired balance of 35,500,000 CNY[125]. Operational Efficiency - The company aims to improve its operational efficiency by reducing costs by 8% over the next year[172]. - The company’s production model is primarily "sales-driven," ensuring that production meets market demand while maintaining safety stock[42]. - The company has established strategic partnerships with two major distributors to enhance supply chain capabilities[184]. - The company is committed to optimizing talent acquisition and management systems to adapt to the growing scale of operations and industry advancements[89]. Challenges and Risks - The company has faced challenges due to rising raw material costs, which have impacted profit margins across the industry[44]. - Raw material costs constitute a large portion of operating costs, and fluctuations in prices could adversely affect the company's operating results and gross margin[86]. - The company faces significant market competition with nearly 2,000 domestic pesticide producers, including over 500 raw material manufacturers, which may impact performance[85]. Corporate Governance - The financial report for the first half of 2021 has not been audited[147]. - The company has not disposed of any significant assets or equity during the reporting period[77][78]. - The company has not engaged in any significant asset or equity transactions during the reporting period, maintaining financial stability[122]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[95].

Financial Performance - The company's operating revenue for 2020 was CNY 1,193,675,122.87, representing a 9.91% increase compared to CNY 1,086,084,366.48 in 2019[16] - The net profit attributable to shareholders for 2020 was CNY 175,242,460.14, which is a 13.41% increase from CNY 154,525,130.42 in 2019[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 148,619,064.18, up 5.68% from CNY 140,636,682.38 in 2019[16] - The basic earnings per share for 2020 was CNY 1.460, an increase of 13.18% compared to CNY 1.290 in 2019[16] - The total assets at the end of 2020 were CNY 1,350,057,453.24, reflecting a 3.19% increase from CNY 1,308,329,171.52 at the end of 2019[16] - The net cash flow from operating activities decreased by 37.92% to CNY 140,942,185.71 from CNY 227,050,264.23 in 2019[16] - The weighted average return on net assets for 2020 was 17.66%, a decrease of 0.44 percentage points from 18.10% in 2019[16] Dividend Distribution - The company plans to distribute a cash dividend of CNY 3 per 10 shares, with a capital reserve increase of 3 shares for every 10 shares held[5] - The cash dividend for 2020 amounts to CNY 36 million, representing 20.54% of the net profit attributable to ordinary shareholders[140] - The cash dividend proposed is 3.00 yuan per 10 shares, totaling 36,000,000 yuan[141] - The total number of shares for dividend calculations has remained consistent at 120 million shares over the past three years[137] - The company has maintained a clear profit distribution policy in accordance with relevant regulations, ensuring shareholder interests are protected[136] Market and Industry Trends - The agricultural chemicals industry in China saw a 29.3% increase in export volume to 239.5 million tons in 2020, reflecting a strong recovery and growth in the sector[25] - The market for high-efficiency, low-toxicity pesticides is expected to grow rapidly due to increasing consumer demand for organic products, with significant potential for market expansion[27] - The domestic market for bacterial disease prevention is projected to reach ¥25-30 billion, driven by increased planting of economic crops and extreme weather conditions[28] - The company achieved stable growth in performance, benefiting from its integrated supply chain advantages, with a significant increase in operational scale[30] Research and Development - The company has established a comprehensive R&D, procurement, production, testing, and sales system to meet customer needs[36] - The company has been recognized as a high-tech enterprise and has established a postdoctoral research station, indicating strong innovation capabilities[42] - In 2020, the company invested CNY 62.38 million in R&D, representing a 24.12% increase compared to the previous year, and obtained 3 new invention patents, bringing the total to 55 patents[58] - The company aims to increase R&D investment and strengthen its talent acquisition to improve core technology development and innovation capabilities[122] Environmental Management - The company emphasizes safety and environmental management, implementing strict monitoring mechanisms and enhancing EHS management levels[59] - The company has established a series of environmental management systems and emergency response plans for pollution incidents, ensuring compliance with national laws and industry standards[190] - The company has achieved stable compliance in wastewater and air emissions during the reporting period, with no significant environmental incidents reported[190] - The company pays environmental protection taxes on time and holds valid discharge permits, meeting total pollutant control requirements[190] Risk Management - The company faces risks including environmental and market competition risks that could lead to profit declines[5] - The company emphasizes the importance of understanding the differences between plans, forecasts, and commitments, urging investors to be aware of investment risks[5] - The company has implemented risk control measures for derivative investments, including selecting liquid financial derivatives and monitoring contracts continuously[99] Strategic Partnerships and Market Position - The company has established strategic partnerships with international agrochemical companies such as BASF and Bayer, facilitating product development[45] - The company’s products are exported to multiple regions, including the EU, the USA, and Southeast Asia, establishing long-term strategic relationships with international clients[48] - The company aims to leverage its integrated supply chain from intermediates to active ingredients and formulations to enhance competitiveness and market share[29] Production and Capacity - The designed capacity for formulations is 9,000 tons/year with a utilization rate of 77% and an ongoing construction capacity of 3,800 tons/year[64] - The designed capacity for active ingredients is 10,500 tons/year with a utilization rate of 66.67% and an ongoing construction capacity of 700 tons/year[64] - The designed capacity for intermediates is 28,800 tons/year with a utilization rate of 46.53% and an ongoing construction capacity of 6,500 tons/year[64] Corporate Governance - The company has not made any changes to its cash dividend policy, ensuring transparency and compliance with governance standards[136] - The company has not engaged in any related party transactions during the reporting period[160] - The company has not experienced any major litigation or arbitration matters during the reporting period[156]