Financial Performance - Revenue for Q3 2022 reached CNY 1,107,490,617.79, an increase of 40.00% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 92,353,102.77, a significant increase of 1,925.83% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 89,461,967.39, up 1,374.90% from the previous year[5] - Basic earnings per share for the period were CNY 0.91, reflecting a growth of 1,920.00% year-on-year[5] - Total operating revenue for the current period reached CNY 2,718,749,880.86, an increase of 24.4% compared to CNY 2,185,633,677.33 in the previous period[17] - Net profit for the current period was CNY 100,106,305.85, a significant recovery from a net loss of CNY 9,207,537.33 in the same period last year[18] - Earnings per share (EPS) for the current period was CNY 0.95, compared to a loss per share of CNY 0.10 in the previous period[19] - The company reported a total comprehensive income of CNY 100,106,305.85, recovering from a loss of CNY 9,207,537.33 in the previous period[19] Assets and Liabilities - Total assets as of September 30, 2022, amounted to CNY 3,692,470,386.29, representing a 28.73% increase from the end of the previous year[5] - Total liabilities amounted to CNY 1,203,900,000.00, with a significant portion attributed to long-term debt[14] - The total liabilities reached CNY 1,794,516,593.04, compared to CNY 1,189,118,386.08 in the previous period, indicating increased leverage[18] - The company's total equity attributable to shareholders increased to CNY 1,824,329,119.73, a rise of 13.42% from the previous year[5] - Total equity attributable to shareholders of the parent company was CNY 1,824,329,119.73, up from CNY 1,608,470,721.01[18] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 23,219,445.44, an increase of 124.63% compared to the same period last year[9] - Cash flow from operating activities generated a net inflow of CNY 23,219,445.44, a turnaround from a net outflow of CNY 94,289,073.04 in the prior period[20] - The net cash flow from financing activities was 676,169,583.63, significantly higher than 98,062,112.16 in the previous year, showing an increase of approximately 588%[22] - Cash inflow from financing activities totaled 955,920,000.00, an increase from 358,280,000.00 in the previous year, representing a growth of approximately 167%[22] - The total cash and cash equivalents at the end of the period reached 632,757,081.19, compared to 247,018,239.76 at the end of the previous year, reflecting an increase of approximately 156%[22] Research and Development - Research and development expenses for the quarter were CNY 22,502,790.21, an increase of 87.68% year-on-year due to increased investment in breeding and food research[9] - Research and development expenses increased to CNY 22,502,790.21, up from CNY 11,989,977.34, reflecting a focus on innovation[17] Shareholder Information - The number of common shareholders at the end of the reporting period was 13,293, with no preferred shareholders[11] Inventory and Receivables - The company reported a significant increase in accounts receivable by 37.52% due to the expansion of fresh sales[9] - Accounts receivable rose to CNY 283,052,529.35 from CNY 205,819,316.40, marking an increase of approximately 37.4%[13] - Inventory levels increased to CNY 498,909,637.93 from CNY 447,083,163.96, reflecting a growth of about 11.6%[13] Debt and Borrowings - Short-term borrowings decreased to CNY 159,500,000.00 from CNY 229,500,000.00, a reduction of approximately 30.5%[14] - Long-term borrowings increased to CNY 441,000,000.00 from CNY 270,880,000.00, indicating a growth of about 62.8%[14] Other Financial Activities - The cash received from sales of goods and services was CNY 2,669,581,087.02, an increase from CNY 2,237,221,054.03 in the prior period[20] - The net cash flow from investment activities was -365,109,875.88, compared to -419,212,404.71 in the previous year, indicating a decrease in cash outflow by approximately 12.9%[22] - The cash inflow from investment activities was 61,111,975.94, down from 71,628,805.35 in the previous year, representing a decrease of approximately 14.6%[22] - The cash outflow for the acquisition of fixed assets and intangible assets was 366,221,851.82, compared to 420,841,210.06 in the previous year, indicating a decrease of approximately 12.9%[22] Audit Information - The third quarter report was not audited, as stated by the company's board of directors[23]

Financial Performance - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching RMB 1.5 billion, representing a year-on-year growth of 15%[18]. - The net profit attributable to shareholders for the first half of 2022 was RMB 200 million, an increase of 10% compared to the same period last year[18]. - The company's operating revenue for the reporting period was ¥1,627,527,768.33, an increase of 16.71% compared to ¥1,394,540,966.09 in the same period last year[24]. - Net profit attributable to shareholders was ¥4,876,117.37, a significant improvement of 196.54% from a loss of ¥5,050,946.49 in the previous year[24]. - The company's total assets increased by 24.39% to ¥3,567,804,266.39 from ¥2,868,336,694.90 at the end of the previous year[24]. - The company's total cash and cash equivalents at the end of H1 2022 stood at 664,849,742.83 CNY, compared to 352,234,389.35 CNY at the end of H1 2021, indicating a year-on-year increase of approximately 88.8%[186]. - The total profit for the first half of 2022 was CNY 5,750,183.74, a turnaround from a total loss of CNY 4,407,918.12 in the same period last year[1]. - The total equity attributable to shareholders reached CNY 1,731,976,016.96, up from CNY 1,608,470,721.01, indicating an increase of 7.7%[172]. Market Expansion and Strategy - The company plans to expand its market presence by increasing its distribution channels, targeting a 20% growth in market share by the end of 2023[18]. - Future guidance suggests a projected revenue growth of 12% for the second half of 2022, driven by increased demand and market expansion efforts[18]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach, with a target completion date by Q4 2023[18]. - The company is actively exploring the "Internet + livestock" model to meet the demands of high-end consumers for ecological poultry products[56]. - The company is focusing on strategic partnerships and potential acquisitions to drive growth[195]. Research and Development - The company is investing in new product development, with a budget allocation of RMB 50 million for R&D in 2022, focusing on innovative poultry products[18]. - The company's R&D investment increased by 80.12% to ¥13,699,791.95, primarily due to enhanced research on proprietary breeding varieties[59]. - The company plans to invest 100 million CNY in R&D for new technologies over the next two years[123]. Operational Efficiency and Quality Control - The company has implemented strict quality control standards and quarantine procedures for purchasing ice-fresh poultry products[37]. - The company has established a strict quality control system to mitigate food safety risks, which are increasingly scrutinized by consumers and regulatory bodies[91]. - The company has established a comprehensive cold chain logistics distribution system along the Yangtze River, covering major cities from Shanghai to Chengdu[55]. - The company has established a standardized self-raising model, which integrates feed processing, breeding, hatching, and sales, improving product quality and food safety[39]. Environmental and Social Responsibility - The management has emphasized the importance of food safety and environmental protection as key strategies to mitigate operational risks and enhance brand reputation[4]. - The company is committed to sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025[122]. - The company has implemented a comprehensive environmental monitoring plan, ensuring compliance with national pollution discharge standards and conducting regular monitoring of waste gas and wastewater[107]. - The company donated approximately 569,500 CNY to impoverished villages and households, along with 158,800 CNY for poverty alleviation and assistance to workers in need[109]. Risks and Challenges - The company has identified risks including raw material price fluctuations, with a potential impact of up to 5% on profit margins if prices rise significantly[4]. - The company faces significant risks from poultry diseases, including Newcastle disease and H7N9, which could impact operational performance and increase costs due to necessary preventive measures[87]. - The yellow feathered chicken industry is experiencing increasing pressure for upgrades due to government environmental regulations and consumer demands for product quality and safety[47]. Shareholder and Financial Management - No cash dividends or stock bonuses will be distributed for the current fiscal year, as the company aims to reinvest profits into growth initiatives[5]. - The company has not reported any changes in the use of raised funds during the reporting period[76]. - The company has not engaged in any securities or derivative investments during the reporting period[72][73]. - The company has a commitment that any shares sold within two years after the lock-up period must not be sold below the issue price[115].

Financial Performance - The company reported a significant increase in revenue for the first half of 2022, with total revenue reaching RMB 1.5 billion, representing a year-on-year growth of 15%[18]. - The net profit for the first half of 2022 was RMB 200 million, an increase of 10% compared to the same period last year[18]. - The company's operating revenue for the reporting period was ¥1,627,527,768.33, an increase of 16.71% compared to ¥1,394,540,966.09 in the same period last year[24]. - Net profit attributable to shareholders was ¥4,876,117.37, a significant turnaround from a loss of ¥5,050,946.49, representing a 196.54% improvement[24]. - The company's total assets increased by 24.39% to ¥3,567,804,266.39 from ¥2,868,336,694.90 at the end of the previous year[24]. - The company's total comprehensive income for the first half of 2022 was CNY 30,124,611.30, an increase from CNY 17,121,350.34 in the previous year[184]. - The total revenue for the first half of 2022 reached CNY 1,627,527,768.33, representing a year-on-year increase of 16.71% compared to CNY 1,394,540,966.09 in the same period last year[61]. - The total profit for the first half of 2022 was CNY 31,294,681.87, up from CNY 18,395,997.79 in the previous year, showing strong financial performance[183]. Market Expansion and Strategy - Future outlook suggests a projected revenue growth of 20% for the second half of 2022, driven by market expansion strategies[18]. - The company plans to invest RMB 300 million in new product development and technology research in the upcoming year[18]. - The company is focusing on expanding its presence in e-commerce platforms, aiming for a 30% increase in online sales[18]. - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[18]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[121]. - A strategic acquisition of a local competitor is expected to enhance operational efficiency and increase market share by 15%[122]. - The company is exploring potential acquisitions in the feed production sector to diversify its product offerings and strengthen its market position[144]. Operational Efficiency and Cost Management - The company has implemented new strategies to improve supply chain efficiency, which is expected to reduce operational costs by 5%[18]. - The company aims to improve production efficiency and control costs through refined management and scale effects, while also extending its industrial chain and sales channels[96]. - The company has committed to reducing operational costs by 5% through improved supply chain management[121]. - The company has established a strict quality control system to mitigate food safety risks, but any lapses could harm its brand and operational performance[91]. Research and Development - The company's R&D investment increased by 80.12% to ¥13,699,791.95, primarily due to enhanced research on proprietary breeding varieties[59]. - The company is committed to developing new technologies and products to meet market demands and enhance profitability[68]. - The company is focusing on technological advancements to improve product offerings and customer satisfaction[192]. User Growth and Customer Base - User data indicates that the company has expanded its customer base by 20%, reaching a total of 1 million active users[18]. - User data indicated a growth in active users by 20% compared to the previous year, reaching 2 million active users[122]. - The company has reported a user base growth of 25% in its online sales platform, indicating a shift towards digital sales channels[144]. Financial Management and Investments - The company has decided not to distribute cash dividends or issue bonus shares for this fiscal year[5]. - The company has a remaining balance of RMB 109.33 million in the special account for raised funds, with an interest income of RMB 9.68 million[76]. - The company has reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[127]. - The company has not engaged in any related party transactions during the reporting period[133]. Environmental and Social Responsibility - The company has implemented a comprehensive environmental monitoring plan, ensuring compliance with national pollution discharge standards and conducting regular monitoring of waste treatment[107]. - The company has developed an emergency response plan for potential environmental incidents, conducting annual drills to ensure preparedness[107]. - The company donated a total of approximately 569,500 CNY to impoverished villages and households, along with 158,800 CNY for poverty alleviation and assistance to workers[109]. Risks and Challenges - The management highlighted risks including fluctuations in raw material prices and market competition, which could impact future performance[4]. - The company faces significant risks from poultry diseases, including Newcastle disease and H7N9, which could impact operational performance and financial results if not managed properly[87]. - The cyclical nature of the poultry industry is influenced by supply and demand dynamics, leading to significant price fluctuations[48]. Future Outlook - The company expects a revenue growth forecast of 10% for the second half of 2022, aiming for a total annual revenue of 3.3 billion CNY[123]. - Future guidance indicates a cautious optimism for continued revenue growth, driven by increased demand and market expansion efforts[198]. - The company plans to enhance its biosecurity system to mitigate risks associated with disease transmission and ensure compliance with food safety standards[96].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 783,583,686.08, representing an increase of 8.00% compared to CNY 725,544,696.29 in the same period last year[3] - The net profit attributable to shareholders for Q1 2022 was CNY 11,693,033.49, a significant increase of 42.89% from CNY 8,183,334.42 in the previous year[3] - The total profit amounted to CNY 12,341,401.27, up 47.5% from CNY 8,354,675.24 year-on-year[19] - Operating profit reached CNY 12,558,337.91, representing a growth of 45.5% compared to CNY 8,626,190.65 in the previous year[19] - The company reported a net profit margin of approximately 1.3% for Q1 2022, compared to the previous year's margin[17] - The basic and diluted earnings per share were both CNY 0.11, an increase from CNY 0.08 in the prior year[20] Cash Flow - The net cash flow from operating activities was negative at CNY -10,252,763.07, a decline of 265.33% compared to CNY 6,201,461.80 in Q1 2021[3] - Cash flow from operating activities showed a net outflow of CNY 10,252,763.07, a decline from a net inflow of CNY 6,201,461.80 in the same quarter last year[23] - Cash flow from investing activities resulted in a net outflow of CNY 79,459,678.31, compared to a net outflow of CNY 120,112,751.62 in the previous year[23] - Cash flow from financing activities generated a net inflow of CNY 118,038,717.92, a significant improvement from a net outflow of CNY 18,916,823.29 in the same period last year[23] - The total cash and cash equivalents at the end of the period were CNY 326,959,342.54, down from CNY 529,629,492.24 at the end of the previous year[24] - Cash and cash equivalents at the end of Q1 2022 amounted to CNY 326,959,342.54, compared to CNY 298,477,928.00 at the beginning of the year[13] Assets and Liabilities - The total assets at the end of Q1 2022 amounted to CNY 3,055,157,505.99, reflecting a growth of 6.51% from CNY 2,868,336,694.90 at the end of the previous year[3] - Total assets as of March 31, 2022, were CNY 3,055,157,505.99, an increase from CNY 2,868,336,694.90 at the beginning of the year[16] - Total liabilities increased to CNY 1,365,701,379.98 from CNY 1,189,118,386.08, reflecting a rise of 14.8%[15] - The company’s total liabilities decreased by 55.69% for non-current liabilities due within one year, amounting to CNY 31,480,000.00, due to debt repayments[7] Expenses - Total operating costs for Q1 2022 were CNY 774,334,978.55, up from CNY 721,928,870.04, reflecting a year-over-year increase of 7.2%[17] - Research and development expenses increased by 50.05% to CNY 6,002,250.16, primarily due to investments in poultry breed projects[7] - Research and development expenses for Q1 2022 were CNY 6,002,250.16, an increase from CNY 4,000,131.69 in the same period last year, indicating a growth of 50.0%[17] - The company reported a 203.91% increase in financial expenses, totaling CNY 4,418,483.73, mainly due to higher interest expenses on loans[7] Other Financial Metrics - The weighted average return on equity was 0.72%, up from 0.51% in the previous year[3] - The company experienced a 301.95% increase in contract liabilities, reaching CNY 25,455,589.32, attributed to the expansion of operations and increased customer prepayments[7] - The company received government subsidies amounting to CNY 4,740,801.84, which contributed to the overall financial performance[5] - Accounts receivable increased to CNY 219,560,408.56 from CNY 205,819,316.40, indicating a rise of 6.5%[14] - Inventory at the end of Q1 2022 was CNY 473,538,397.72, up from CNY 447,083,163.96, representing a growth of 5.9%[14] - The company incurred a credit impairment loss of CNY 1,389,803.37 during the quarter, compared to a gain of CNY 1,884,541.43 in the same period last year[19]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2021, representing a year-on-year increase of 15% compared to 2020[14]. - The net profit attributable to shareholders was RMB 150 million, which is a 10% increase from the previous year[14]. - The company's operating revenue for 2021 was ¥3,005,507,323.26, representing a 37.26% increase compared to ¥2,189,585,769.77 in 2020[6]. - The net profit attributable to shareholders for 2021 was ¥25,678,613.21, a decrease of 85.28% from ¥174,444,638.50 in 2020[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥8,720,207.44, down 94.51% from ¥158,726,684.80 in 2020[6]. - The net cash flow from operating activities was ¥113,725,324.29, a decline of 29.57% compared to ¥161,469,618.87 in 2020[6]. - The total assets at the end of 2021 were ¥2,868,336,694.90, an increase of 20.64% from ¥2,377,630,161.37 at the end of 2020[6]. - The basic earnings per share for 2021 was ¥0.25, down 86.63% from ¥1.87 in 2020[6]. - The diluted earnings per share for 2021 was also ¥0.25, reflecting the same percentage decrease as basic earnings per share[6]. - The weighted average return on equity for 2021 was 1.60%, a decrease of 11.68% from 13.28% in 2020[6]. - The company reported a net profit of ¥35,787,698.24 in Q4 2021, contrasting with losses in Q2 and Q3[23]. - The company received government subsidies amounting to ¥19,102,306.99 in 2021, compared to ¥18,229,884.93 in 2020[24]. Market Strategy and Expansion - The company plans to expand its market presence by increasing its distribution channels, targeting a 20% growth in market share by the end of 2022[14]. - The management has set a performance guidance of 10-15% revenue growth for 2022, driven by new product launches and market expansion efforts[14]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency and product offerings[14]. - The company is exploring transformation towards chilled and cooked products, positioning itself as a leader in the industry[33]. - The company aims to meet the demand for high-end ecological free-range chickens through direct-to-consumer O2O models, enhancing customer convenience[56]. - The company is actively seeking financing through capital markets to expand its breeding and food processing segments[104]. - The company is expanding its market presence by entering three new provinces, aiming to increase market share by 10% in these regions[131]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by 30%[131]. Product Development and Innovation - The company has invested RMB 50 million in new product development, focusing on organic poultry products to meet rising consumer demand[14]. - The company is focusing on developing new products such as processed and semi-finished food items tailored for the younger generation[105]. - New product development includes the launch of a premium poultry line, expected to contribute an additional 200 million yuan in revenue within the first year[131]. - The company is actively developing a "company + base" breeding model to mitigate risks associated with the "company + farmer" model[49]. - The company has established partnerships with research institutions to establish research and development centers, facilitating innovation in breeding and production technologies[57]. Risk Management - The company has identified key risks including fluctuations in raw material prices and potential disease outbreaks in poultry, with mitigation strategies in place[4]. - The company is exposed to risks related to the fluctuation of product prices due to supply-demand dynamics, disease outbreaks, and feed costs[48]. - The company has established a clear risk-sharing mechanism with farmers in the breeding model, ensuring both parties are protected[40]. - The company must increase biosecurity investments and enhance quality management in response to rising food safety standards and regulations[51]. Quality Control and Safety - The company emphasizes its commitment to food safety and quality control as a core part of its operational strategy[4]. - The company has implemented strict quality control measures for procurement, ensuring high standards for feed, vaccines, and live poultry[38]. - The company has a comprehensive quality control system in place for both live and ice-fresh poultry products, ensuring safety and quality[42]. - The company has received multiple certifications, including ISO9001:2015 for quality management and ISO22000:2005 for food safety[43]. - The company adheres strictly to food safety regulations, ensuring no violations in livestock management and food safety[165]. Environmental and Social Responsibility - The company has established a wastewater treatment facility to manage its wastewater effectively[163]. - The company has implemented an environmental emergency response plan, conducting annual drills to ensure preparedness for potential pollution incidents[164]. - The company donated a total of approximately 1.2766 million CNY to impoverished villages and households, along with 338,200 CNY for poverty alleviation and assistance to struggling employees[166]. - The company has developed a self-monitoring plan for emissions, ensuring compliance with national and local pollution discharge standards[165]. Governance and Compliance - The company has established a comprehensive governance structure, ensuring effective decision-making and oversight[112]. - The board of directors consists of nine members, including three independent directors, enhancing governance and providing valuable advice[113]. - The company emphasizes the importance of investor relations, facilitating communication through various channels[114]. - The internal control system has been established and effectively implemented, with no major defects reported during the period[152]. - The company has committed to transparent information disclosure, ensuring timely and accurate communication with investors[114]. Employee Management - The total number of employees at the end of the reporting period was 6,933, including 5,407 from the parent company and 1,526 from major subsidiaries[144]. - The employee salary increase for 2021 was approximately 10%, based on the company's annual operating performance and employee performance[146]. - The company conducted nearly 700 training sessions in 2021, with over 10,000 participants, focusing on management capabilities and business skills[147]. - The company emphasizes competitive salaries for key talents, ensuring that compensation is aligned with industry standards[146]. Financial Management and Investments - The company plans to issue convertible bonds to fund projects in pig and chicken breeding, enhancing its risk resistance and profitability[61]. - The company has established strategic partnerships to enhance supply chain capabilities, which is expected to increase production capacity by 15%[124]. - The company has maintained a stable relationship with its auditing firm, which has provided services for 11 consecutive years[194]. - The company has committed to prioritizing the purchase rights of any new products or businesses developed in collaboration with others[185].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥791,092,711.24, an increase of 44.59% compared to the same period last year[3] - The net profit attributable to shareholders was a loss of ¥5,058,138.54, representing a decline of 112.68% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥7,017,161.17, down 124.53% from the previous year[3] - Total operating revenue for the current period reached ¥2,185,633,677.33, a significant increase of 42.3% compared to ¥1,535,215,356.31 in the previous period[20] - The net profit for the current period was a loss of ¥9,207,537.33, contrasting sharply with a net profit of ¥176,796,773.20 in the previous period[21] - The company's operating profit was reported at -¥4,877,219.02, a decline from the previous operating profit of ¥183,076,339.10[21] - The basic and diluted earnings per share for the current period were both -¥0.10, down from ¥1.99 in the previous period[22] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥2,675,856,384.27, reflecting a growth of 12.54% compared to the end of the previous year[3] - Total assets as of September 30, 2021, reached CNY 2,675,856,384.27, an increase from CNY 2,377,630,161.37 at the end of 2020[16] - Current assets decreased to CNY 954,115,928.09 from CNY 1,186,845,584.73 year-over-year[16] - Total liabilities increased to CNY 644,937,163.64 from CNY 568,500,519.17, representing a rise of approximately 13.4%[17] - The total liabilities rose to ¥1,036,116,150.61, compared to ¥744,082,400.82 in the previous period, indicating increased financial obligations[21] - The total equity attributable to shareholders decreased by 1.90% to ¥1,573,904,994.82[4] - The total equity attributable to shareholders of the parent company decreased to ¥1,573,904,994.82 from ¥1,604,318,564.71 in the previous period[21] Cash Flow - Cash flow from operating activities showed a net outflow of ¥94,289,073.04, a decrease of 222.90% compared to the same period last year[10] - Cash flow from operating activities for the current period was ¥2,237,221,054.03, compared to ¥1,538,724,969.25 in the previous period, showing improved cash generation[24] - The net cash flow from operating activities was -94,289,073.04 CNY, compared to 76,717,786.10 CNY in the previous year[25] - Total cash inflow from operating activities was 2,364,592,635.10 CNY, an increase from 1,567,678,514.92 CNY year-over-year[25] - Cash outflow for purchasing goods and services was 1,949,525,330.38 CNY, up from 1,096,034,009.36 CNY in the same period last year[25] - The net cash flow from investing activities was -419,212,404.71 CNY, compared to -249,623,603.19 CNY in the previous year[26] - The net cash flow from financing activities was 98,062,112.16 CNY, a decrease from 739,891,095.01 CNY year-over-year[26] - The ending cash and cash equivalents balance was 247,018,239.76 CNY, down from 758,928,254.34 CNY in the previous year[26] Research and Development - The company reported a significant increase in research and development expenses, which rose by 685.83% to ¥11,989,977.34[10] - Research and development expenses increased to ¥11,989,977.34, compared to only ¥1,525,776.12 in the previous period, reflecting a focus on innovation[21] Inventory and Borrowings - The company’s inventory increased by 38.12% to ¥389,317,242.86, attributed to expanded operations and rising costs[9] - Short-term borrowings increased by 34.83% to ¥240,000,000.00, primarily due to increased bank loans[10] - Long-term borrowings rose to CNY 201,880,000.00 from CNY 99,000,000.00, reflecting a significant increase of approximately 103.0%[17] - Accounts receivable increased to CNY 225,799,470.51 from CNY 185,299,246.57, reflecting a growth of approximately 21.9%[16] - Deferred income increased significantly to ¥169,642,278.77 from ¥69,981,881.65 in the previous period, indicating potential future revenue[21] Shareholder Information - The company has a total of 14,574 common stock shareholders as of the reporting date[12] Other Information - The company did not require adjustments to the balance sheet due to the new leasing standards implemented in 2021[27] - The third-quarter report was not audited[28]

Financial Performance - The company reported a revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15% compared to the same period in 2020[14]. - The net profit attributable to shareholders for the first half of 2021 was RMB 150 million, up 20% from RMB 125 million in the same period last year[14]. - The company's operating revenue for the reporting period was ¥1,394,540,966.09, an increase of 41.13% compared to ¥988,102,542.16 in the same period last year[19]. - The net profit attributable to shareholders was -¥5,050,946.49, representing a decrease of 103.61% from ¥139,803,928.59 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥15,026,800.36, a decline of 111.30% compared to ¥132,925,192.16 in the same period last year[19]. - The net cash flow from operating activities was -¥82,036,950.75, a decrease of 204.48% from ¥78,520,763.46 in the previous year[19]. - The total assets at the end of the reporting period were ¥2,520,579,232.30, an increase of 6.01% from ¥2,377,630,161.37 at the end of the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,578,963,133.36, a decrease of 1.58% from ¥1,604,318,564.71 at the end of the previous year[19]. - The basic and diluted earnings per share were both -¥0.06, a decrease of 103.64% from ¥1.65 in the same period last year[19]. - The weighted average return on net assets was -0.32%, down from 12.83% in the previous year, a decline of 13.15%[19]. - The company reported a significant increase in operating costs across all regions, with Hunan region costs rising by 107.81% due to increased sales activities[60]. - The total profit for the first half of 2021 was a loss of ¥4,407,918.12, compared to a profit of ¥139,908,798.66 in the first half of 2020[189]. Market Strategy and Expansion - The company plans to expand its market presence by increasing distribution channels, targeting a 10% growth in market share by the end of 2022[14]. - Future guidance estimates a revenue growth of 12% for the second half of 2021, driven by increased demand and new product launches[14]. - The company is exploring strategic partnerships for potential mergers and acquisitions to enhance its product offerings and market reach[14]. - The company aims to enhance its supply chain efficiency, targeting a 15% reduction in operational costs by optimizing logistics[14]. - The company is actively exploring new product development and market expansion strategies, particularly in the ice-fresh and cooked poultry segments[41]. - The company is expanding its market presence, targeting three new provinces for distribution, which is anticipated to increase market share by 5%[123]. - A strategic acquisition of a local competitor is in progress, which is expected to enhance operational efficiency and increase overall market competitiveness[119]. Research and Development - The company has invested RMB 50 million in R&D for new product development, focusing on organic poultry products[14]. - Research and development expenses surged by 585.97% to ¥7,606,132.35, reflecting a significant increase in investment in R&D activities[54]. - The company plans to invest 100 million yuan in research and development for new technologies aimed at improving production processes and product quality[120]. - The company has established research cooperation agreements with several academic institutions to enhance its technological capabilities[51]. Operational Efficiency and Cost Management - The company has established a standardized breeding model to enhance product quality and safety while maximizing cost control and output, contributing to increased market competitiveness[32]. - The company has implemented a feed production model that dynamically adjusts feed composition to ensure nutritional balance and reduce nitrogen and phosphorus content in chicken manure, certified by ISO9001:2008[32]. - The company has established a comprehensive "farm-to-table" integrated operation model, ensuring strict monitoring and quality control across the entire supply chain[43]. - The company has implemented measures to ensure compliance with national environmental policies and prevent pollution incidents[88]. - The company aims to develop a "company + base" breeding model to mitigate risks associated with the "company + farmer" model[89]. Risks and Challenges - The management highlighted risks including fluctuations in raw material prices and potential disease outbreaks affecting poultry[4]. - The company faces risks related to livestock diseases, particularly in chicken and pig farming, which could impact operational performance and financial results[81]. - The cyclical nature of the poultry industry poses a risk of performance volatility due to fluctuations in market demand and pricing for live poultry products[82]. - The company is exposed to raw material price volatility, particularly in feed costs, which are influenced by factors such as agricultural policies and climate conditions[83]. - The company acknowledges the risk of market competition increasing as more enterprises enter the poultry farming industry, necessitating timely adjustments to marketing strategies[87]. Corporate Governance and Shareholder Commitments - The company has not engaged in any securities or derivative investments during the reporting period, indicating a conservative financial strategy[76][77]. - The company has established a voluntary lock-up commitment for shareholders, ensuring stability in shareholding[106]. - The commitments are designed to prevent excessive share transfers that could destabilize the stock price[107]. - The company emphasizes compliance with relevant laws and regulations regarding share transfers and lock-up periods[108]. - The company has outlined specific penalties for non-compliance with the lock-up commitments, including revenue forfeiture[110]. Community Engagement and Social Responsibility - The company actively participated in social welfare, donating approximately 299,400 yuan to impoverished villages and households[102]. - The company has established a standardized breeding base to enhance the "company + base + farmer" model, effectively aiding local farmers in poverty alleviation[103]. - The company has a comprehensive training program to enhance employee skills and social responsibility[101]. Logistics and Infrastructure Development - The company established a comprehensive cold chain logistics distribution system along the Yangtze River, covering major cities from Shanghai to Chengdu[49]. - The company is expanding its logistics capabilities with a new facility in Sichuan, valued at 878.70 million[143]. - The company has invested 1,136.10 million in a logistics branch in Chengdu, expected to enhance operational efficiency[143]. - The company plans to expand its market presence in Jiangxi with a new logistics center worth 944 million[142]. Environmental Compliance - The company has implemented pollution prevention facilities that are operational and compliant with environmental standards[99]. - The company has no administrative penalties related to environmental issues during the reporting period[100]. - The company has developed an emergency response plan for potential environmental incidents, conducting annual drills[100].

Revenue and Profit - Revenue for Q1 2021 reached ¥725,544,696.29, an increase of 36.57% compared to ¥531,252,977.96 in the same period last year[7] - Net profit attributable to shareholders was ¥8,183,334.42, a decrease of 92.46% from ¥108,470,338.35 year-on-year[7] - Net profit excluding non-recurring gains and losses was ¥5,329,026.86, down 95.08% from ¥108,404,027.46 in the previous year[7] - Basic earnings per share decreased by 94.37% to ¥0.08 from ¥1.42 in the previous year[7] - Net profit for Q1 2021 was ¥7,482,198.29, a decrease from ¥107,603,222.45 in the previous year[42] - The total profit for the period was ¥8,354,675.24, down from ¥108,771,988.30 in the same period last year[42] - Basic and diluted earnings per share were both CNY 0.14, down from CNY 1.54 in the previous period[47] Cash Flow - Operating cash flow for the period was ¥6,201,461.80, a decline of 51.11% compared to ¥12,685,472.35 in the same quarter last year[7] - Cash inflow from operating activities was CNY 777,712,433.04, an increase from CNY 482,338,389.52 in the previous period[49] - Cash outflow from operating activities totaled CNY 771,510,971.24, compared to CNY 469,652,917.17 in the previous period[50] - Net cash flow from operating activities was CNY 6,201,461.80, down from CNY 12,685,472.35 in the previous period[50] - Net cash flow from investing activities was -CNY 120,112,751.62, compared to -CNY 32,953,537.90 in the previous period[50] - Net cash flow from financing activities was -CNY 18,916,823.29, a decrease from CNY 56,338,906.91 in the previous period[51] - The ending balance of cash and cash equivalents was CNY 529,629,492.24, down from CNY 228,013,817.78 in the previous period[51] - The company reported a net decrease in cash and cash equivalents of CNY 132,828,113.11 for the period[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,466,300,789.95, reflecting a 3.73% increase from ¥2,377,630,161.37 at the end of the previous year[7] - Total current assets decreased from CNY 1,186,845,584.73 to CNY 1,059,241,715.74, a decline of approximately 10.74%[32] - Total non-current assets increased from CNY 1,190,784,576.64 to CNY 1,407,059,074.21, a growth of about 18.19%[33] - Total current liabilities increased from CNY 568,500,519.17 to CNY 621,848,990.87, a rise of about 9.36%[34] - Total liabilities increased from CNY 744,082,400.82 to CNY 804,966,335.81, an increase of approximately 8.19%[34] - Owner's equity totaled ¥1,597,121,167.89, up from ¥1,583,171,897.07 in the previous period, showing growth in shareholder value[41] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,543[11] - Major shareholders include Yu Ziwen and Xing Weimin, each holding 22.58% of shares[11] Research and Development - R&D expenses surged by 843.86% to ¥4,000,131.69, reflecting increased investment in feed nutrition and poultry breeding research[16] - Research and development expenses increased to ¥4,000,131.69 from ¥423,805.96, highlighting a focus on innovation[41] Other Financial Metrics - The company reported non-recurring gains totaling ¥2,854,307.56, including government subsidies of ¥2,952,254.47[8] - Other income rose by 261.28% to ¥2,952,254.47, mainly due to the continuation of social security policy reductions[16] - Management expenses increased by 91.66% to ¥19,876,683.63, driven by higher labor costs and depreciation[16] - The company reported a credit impairment loss of ¥1,884,541.43, a significant improvement from a loss of ¥-3,269,131.40 in the previous year[41] Investment Activities - Investment cash flow net amount dropped by 264.49% to -¥120,112,751.62 due to increased fixed asset project investments[16] - The company plans to issue convertible bonds, with approval from the China Securities Regulatory Commission received on March 11, 2021[17] - Total funds raised from the public offering of shares amounted to ¥759,416,900, with a net amount of ¥645,635,700 after expenses[22] - The company has utilized ¥190,073,100 of the raised funds, with a remaining balance of ¥270,577,000[22] Inventory and Receivables - Accounts receivable decreased from CNY 185,299,246.57 to CNY 153,494,410.83, a reduction of about 17.14%[32] - Inventory increased from CNY 281,878,867.89 to CNY 300,431,353.57, an increase of approximately 6.06%[32] - Prepayments increased by 110.69% to ¥29,602,054.21 due to higher advance payments for raw material auctions[16] - Biological assets rose by 122.83% to ¥61,547,233.38 primarily from the acquisition of Hunan Sanjian Animal Husbandry Co., Ltd.[16]

Financial Performance - The company's operating revenue for 2020 was ¥2,189,585,769.77, representing a 16.60% increase compared to ¥1,877,860,207.10 in 2019[6]. - The net profit attributable to shareholders for 2020 was ¥174,444,638.50, a decrease of 23.19% from ¥227,104,319.88 in 2019[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥158,726,684.80, down 30.24% from ¥227,536,556.92 in 2019[6]. - The net cash flow from operating activities was ¥161,469,618.87, a decline of 46.62% compared to ¥302,464,999.82 in 2019[6]. - The total assets at the end of 2020 were ¥2,377,630,161.37, an increase of 78.24% from ¥1,333,974,841.38 at the end of 2019[18]. - The net assets attributable to shareholders at the end of 2020 were ¥1,604,318,564.71, up 99.39% from ¥804,614,226.21 at the end of 2019[18]. - The basic earnings per share for 2020 was ¥1.87, a decrease of 37.25% from ¥2.98 in 2019[6]. - The weighted average return on equity for 2020 was 13.28%, down 19.58% from 32.86% in 2019[6]. - The company achieved operating revenue of CNY 2.19 billion, with a net profit of CNY 174 million, reflecting a decrease in sales due to the pandemic[54]. - The total distributable profit for the year 2020 was 704,161,798.40 CNY, with the cash dividend amounting to 20,376,000 CNY, which is 100% of the profit distribution total[123]. Dividend Policy - The company plans to distribute a cash dividend of 2 RMB per 10 shares to all shareholders, based on a total of 101,880,000 shares[4]. - The company distributed a cash dividend of 2 CNY per 10 shares, totaling 20,376,000 CNY for the year 2020, which represents 11.68% of the net profit attributable to ordinary shareholders[120]. - The cash dividend policy requires a minimum of 80% of profit distribution in the absence of significant capital expenditure for mature companies[123]. - The decision-making process for profit distribution involves the president drafting a proposal, which is then reviewed by the board of directors and independent directors[116]. - The independent directors actively participated in the profit distribution decision-making process, ensuring the protection of minority shareholders' rights[119]. - The company plans to conduct cash dividends annually, with the possibility of mid-term distributions based on profitability and funding needs[117]. Business Operations and Strategy - The company’s main business includes breeding, raising, and processing poultry, with no significant changes in its main products during the reporting period[26]. - The company employs a "company + base + farmer" breeding model, where farmers are responsible for raising poultry under the company's guidance, ensuring product quality and safety while controlling costs[29]. - The company has established long-term stable supply relationships with high-reputation suppliers for both live and ice-fresh poultry products, ensuring consistent quality and supply[28]. - The company has developed a leading position in the ice-fresh poultry market, which has become a key profit driver during health crises such as the H7N9 and COVID-19 outbreaks[34]. - The company is focusing on the transformation towards ice-fresh poultry and cooked food products, aligning with consumer demand for quality and safety[40]. - The company is actively expanding its market presence in northern regions by developing varieties suitable for local consumption habits[38]. - The company is strategically located in the Wuling Mountain area, leveraging its ecological advantages for high-quality chicken production[46]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[164]. Risk Management - The company emphasizes significant risks including poultry disease outbreaks, raw material supply and price fluctuations, product price volatility, operational model risks, and food safety risks[4]. - The company recognizes the risk of poultry diseases, which could lead to reduced chicken production and negatively impact financial performance if not managed properly[103]. - Feed costs account for approximately 70% of the company's main business costs, making it vulnerable to fluctuations in raw material prices such as corn and soybean meal[103]. - The company has implemented strict quality control measures to mitigate food safety risks associated with both self-produced and externally sourced products[107]. - The company plans to strengthen its biosecurity measures to prevent disease transmission and enhance its core competitiveness through refined management practices[108]. - The company will utilize a combination of policy-based agricultural insurance and commercial insurance to mitigate and diversify risks[108]. Market and Sales Performance - In 2020, the estimated output of yellow feather broilers in China was 4.43 billion birds, with a total meat production of 5.36 million tons, reflecting a year-on-year price decline of 19.36% to an average selling price of 13.46 RMB/kg[35]. - The average selling price of commodity broilers in 2020 was 13.46 RMB/kg, indicating a significant price drop compared to the previous year[35]. - The company sold 26.73 million live chickens, a year-on-year decrease of 3.70%, with an average selling price of CNY 10.21 per kilogram, down 18.77%[54]. - Sales of fresh products reached 63,925.14 tons, an increase of 47.38%, contributing CNY 1.587 billion to total revenue, a year-on-year increase of 34.55%[54]. - Fresh products accounted for 72.48% of total revenue, indicating a significant shift towards this segment[54]. - The company has developed a mature marketing model for fresh products, covering 22 provinces and cities, and established partnerships with major supermarket chains[48]. Investment and Capital Management - The company raised a total of RMB 759.42 million through the issuance of 25,630,000 shares at a price of RMB 29.63 per share, with a net amount of RMB 645.64 million after expenses[91]. - The company has ongoing significant non-equity investments, although specific details were not disclosed[83]. - The company has invested in research and development, collaborating with institutions like the Chinese Academy of Sciences to enhance its technological capabilities[50]. - The company has established partnerships with universities for research projects, enhancing its technological capabilities in poultry product development[73]. - The company has a project for slaughtering 1 million pigs annually and deep processing of meat products, with an investment of RMB 13.58 million, which is 4.95% of the total project[93]. - The company plans to invest in new product development, focusing on innovative poultry products to capture a larger market share[164]. Corporate Governance and Compliance - The company has not reported any changes in its main business since its listing, nor any changes in controlling shareholders[16]. - The company has not engaged in any securities or derivative investments during the reporting period[87][88]. - The company has ensured that all related party transactions are conducted at fair market prices and in compliance with relevant regulations[142]. - The company has confirmed that all commitments made to minority shareholders have been fulfilled on time[143]. - The current auditor is Tianjian Accounting Firm with a remuneration of 800,000 RMB, and they have been providing audit services for 10 years[148]. - There were no significant lawsuits or arbitration matters during the reporting period[149]. Social Responsibility and Environmental Compliance - The company has engaged in social responsibility by donating approximately 293,700 CNY to impoverished villages and 551,800 CNY for poverty alleviation and assistance during the pandemic[173]. - The company has helped 550 registered impoverished individuals escape poverty through its "company + base + farmer" model[177]. - The company has received recognition as a "National Employment Poverty Alleviation Base" and "National Advanced Collective in Poverty Alleviation"[177]. - The company has maintained compliance with environmental standards, with no exceedance of pollutant discharge limits reported[180]. - The company has implemented a comprehensive training program for employees to enhance their skills and management capabilities[173].

Financial Performance - Net profit attributable to shareholders decreased by 61.91% to CNY 39,906,112.38 for the reporting period[7] - Operating income for the reporting period was CNY 547,112,814.15, a slight increase of 1.84% year-on-year[7] - Basic earnings per share dropped by 71.53% to CNY 0.39 for the reporting period[7] - The net profit after deducting non-recurring gains and losses fell by 73.34% to CNY 28,610,563.37[7] - Net profit for the quarter was CNY 39,028,657.89, a decrease from CNY 106,280,249.14 in the same period last year[41] - The company reported a total profit of CNY 40,094,244.76, down from CNY 108,100,812.12 in the previous year[41] - Net profit attributable to the parent company was ¥179,710,040.97, up from ¥169,971,132.10, reflecting a growth of 5.1%[49] - Basic earnings per share decreased to ¥1.99 from ¥2.23, a decline of 10.8%[50] Assets and Liabilities - Total assets increased by 74.16% to CNY 2,323,266,748.89 compared to the end of the previous year[7] - Total current assets increased to CNY 1,302,392,434.37 from CNY 562,970,377.46 as of December 31, 2019, representing a growth of 131.1%[31] - Total liabilities increased to CNY 683,069,906.13 from CNY 499,586,971.82, which is an increase of 36.7%[33] - Total equity attributable to shareholders increased to CNY 1,609,583,967.18 from CNY 804,614,226.21, representing a growth of 99.9%[34] - Short-term borrowings surged by 228.07% to ¥187,000,000.00, mainly due to increased bank loans[16] - Total liabilities increased to CNY 557,245,196.09 from CNY 437,421,064.52 year-over-year[40] Cash Flow - The net cash flow from operating activities was negative at CNY -1,802,977.36, a decline of 101.64% compared to the same period last year[7] - Cash generated from operating activities decreased by 61.57% to ¥76,717,786.10, impacted by increased receivables and inventory[16] - The net cash flow from operating activities for Q3 2020 was ¥76,717,786.10, a decrease of 61.6% compared to ¥199,643,391.44 in the same period last year[57] - Total cash inflow from operating activities was ¥1,567,678,514.92, up 18.5% from ¥1,323,504,613.38 year-on-year[57] - Cash outflow from operating activities increased to ¥1,490,960,728.82, compared to ¥1,123,861,221.94 in the previous year, representing a 32.7% increase[57] Investments and Expenses - Cash used in investing activities increased by 125.22% to -¥249,623,603.19, primarily due to higher investments in fixed asset projects[16] - Research and development expenses decreased to CNY 416,965.89 from CNY 1,180,250.05 year-over-year[40] - Research and development expenses were ¥1,525,776.12, down 40.3% from ¥2,557,274.46[47] - Management expenses for Q3 2020 rose by 58.87% to ¥18,738,624.00, driven by increased costs associated with new developments[16] Shareholder Information - The company reported a total of 13,319 common shareholders at the end of the reporting period[11] - The top two shareholders, Yu Ziwen and Xing Weimin, each hold 22.58% of the shares, totaling 23,000,000 shares[11] Government Support - The company received government subsidies amounting to CNY 18,675,881.01 during the reporting period[8] - Other income for Q3 2020 increased by 487.76% to ¥11,241,238.89, largely due to government subsidies during the pandemic[16] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[41] - The company plans to continue focusing on market expansion and new product development strategies[49]