Financial Performance - The company's operating revenue for 2020 was CNY 10,036,871,239.55, representing an increase of 11.37% compared to CNY 9,012,337,285.19 in 2019[20]. - The net profit attributable to shareholders of the listed company was CNY 79,513,669.38, a 2.73% increase from CNY 77,396,915.38 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 67,137,983.67, showing a decrease of 6.40% from CNY 71,725,867.01 in 2019[20]. - The net cash flow from operating activities increased significantly by 88.16% to CNY 774,993,275.94, compared to CNY 411,890,765.08 in the previous year[20]. - The basic earnings per share decreased by 9.52% to CNY 0.38 from CNY 0.42 in 2019[20]. - The diluted earnings per share also decreased by 9.52% to CNY 0.38 from CNY 0.42 in the previous year[20]. - The weighted average return on equity was 10.24%, down from 12.20% in 2019, reflecting a decrease of 1.96%[20]. - The total operating revenue for 2020 reached ¥10,036,871,239.55, representing an increase of 11.37% compared to 2019, and operating costs of CNY 924,546,53 million, up 11.56%[50]. - The net profit for 2020 was CNY 10,936.20 million, a decrease of 1.68% year-on-year, while the net profit attributable to shareholders was CNY 7,951.37 million, an increase of 2.73%[50]. Assets and Liabilities - Total assets increased by 53.60% to CNY 5,091,193,439.88 at the end of 2020 compared to CNY 3,314,647,959.92 at the end of 2019[21]. - Net assets attributable to shareholders rose by 56.79% to CNY 1,029,687,723.91 at the end of 2020 from CNY 656,719,067.05 at the end of 2019[21]. - The company's long-term equity investments increased by 35.53% compared to the beginning of the year, primarily due to additional capital contributions to its associate company, Guangxi Chuanhua Tianhe Potash Co., Ltd.[39]. - The company's construction in progress grew by 1059.75% compared to the beginning of the year, mainly due to significant increases in the construction of the Tianhe (South China) Agricultural Reserve Logistics Base.[39]. - The company's high asset-liability ratio, with figures of 82.48% for the parent company and 75.89% for the consolidated statements as of December 31, 2020, indicating liquidity risks[119]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.5 per 10 shares, totaling CNY 37,242,000 based on 248,280,000 shares[6]. - The company's total distributable profit for 2020 was RMB 132,999,749.47, with the cash dividend constituting 100% of the profit distribution[140]. - The cash dividend for 2019 was RMB 0.3 per share, totaling RMB 55,860,000, which accounted for 72.17% of the net profit attributable to ordinary shareholders[138]. - The cash dividend payout ratio for 2020 was lower than the previous year, indicating a potential shift in dividend strategy[138]. - The company has maintained a consistent cash dividend policy over the past three years, with increasing amounts distributed[138]. Market and Competitive Position - The company ranked seventh in the comprehensive competitiveness of national agricultural material circulation enterprises for the 2019/2020 period, indicating a strong competitive advantage in the industry[39]. - The agricultural input industry is experiencing accelerated integration, with increasing concentration due to stricter environmental policies and the elimination of outdated production capacities[36]. - The agricultural input market in China is characterized by fragmentation, seasonality, regionality, and lag, affecting the consumption patterns of agricultural inputs[37]. - The company is expected to benefit from the ongoing rural revitalization strategy and the formation of a domestic circulation-driven development pattern in the agricultural sector[35]. Strategic Initiatives and Future Outlook - The company is focusing on the development of organic fertilizer projects and enhancing its product offerings in controlled-release fertilizers[31]. - The company aims to enhance its market influence and competitiveness through increased promotion of its self-branded fertilizers and pesticides[31]. - The company plans to continue expanding its market presence and enhance its product offerings through strategic investments and partnerships[89]. - The company provided a future outlook projecting a revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[142]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach, with a focus on complementary businesses[149]. Operational Efficiency and Management - The company is committed to improving its internal control systems and management efficiency to ensure compliance with regulations[32]. - The company has implemented a comprehensive internal control system to ensure compliance with regulations and improve operational efficiency[56]. - The company aims to enhance its product operation platform and decision-making mechanisms to reduce market risks and improve responsiveness to market changes[120]. - The company is focused on building a smart agriculture service system and expanding its agricultural socialized service network to better serve core economic crops[114]. Research and Development - The company has allocated 100 million RMB for research and development in the upcoming year to enhance product quality and innovation[142]. - The company is investing in R&D for new agricultural technologies, with a budget allocation of 50 million yuan for 2021[149]. Compliance and Governance - The company has maintained compliance with its commitments regarding related party transactions, ensuring no adverse impacts on its operations[156]. - The company confirmed that there were no bankruptcy reorganization matters during the reporting period[157]. - The company will ensure that no more than 1% of total shares are sold through centralized bidding within any three-month period[144]. - The company accepts supervision from regulatory bodies and the public regarding its commitments and will bear corresponding responsibilities for violations[145].

Financial Performance - The company's operating revenue for Q1 2021 was ¥2,771,124,653.78, representing a 25.39% increase compared to ¥2,210,024,071.69 in the same period last year[9] - The net profit attributable to shareholders was ¥9,752,535.19, up 10.58% from ¥8,819,628.91 year-on-year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,996,129.84, reflecting a 13.04% increase from ¥7,073,680.49 in the previous year[9] - The company reported a total comprehensive income of CNY 17,616,313.91, compared to CNY 17,059,047.72 in Q1 2020, indicating a growth of 3.3%[46] - Net profit for Q1 2021 was CNY 16,014,015.09, representing a slight increase of 5.9% from CNY 15,125,370.09 in Q1 2020[45] Cash Flow - The net cash flow from operating activities was -¥921,106,613.24, a significant decline of 292.05% compared to -¥234,946,950.30 in the same period last year[9] - Operating cash flow turned negative at -¥921,106,613.24, a 292.05% increase in cash outflow due to seasonal inventory buildup[18] - The company incurred a total operating cash outflow of 3,877,651,986.14 yuan, compared to 2,337,743,526.51 yuan in the same period last year[54] - The net cash flow from financing activities for Q1 2021 was CNY 610,679,938.65, significantly higher than CNY 295,042,720.79 in Q1 2020, marking a 106.5% increase[57] Assets and Liabilities - Total assets at the end of the reporting period reached ¥6,051,500,369.94, an 18.86% increase from ¥5,091,193,439.88 at the end of the previous year[9] - The total liabilities of the company rose to RMB 4.81 billion as of March 31, 2021, compared to RMB 3.86 billion at the end of 2020, indicating an increase of about 24.5%[37] - The company's total assets increased to CNY 5,450,742,373.40, compared to CNY 4,918,177,471.89 at the end of the previous period, reflecting a growth of 10.8%[41] Shareholder Information - The net assets attributable to shareholders were ¥1,039,544,997.56, showing a slight increase of 0.96% from ¥1,029,687,723.91 at the end of the previous year[9] - Basic earnings per share decreased by 20.00% to ¥0.04 from ¥0.05 in the same period last year[9] - The total equity of the company was CNY 859,454,901.77, a decrease of 0.3% from CNY 861,697,233.45 year-on-year[41] Operational Metrics - Accounts receivable increased by 627.89% to ¥312,286,793.71 due to seasonal business operations and customer payments during the credit period[17] - Inventory rose by 43.64% to ¥2,347,042,451.98 as the company actively stocked up for the peak season[17] - Cash received from sales increased by 40.56% to ¥2,953,754,651.60, driven by higher sales volume and increased customer payments[18] Management and Governance - The company appointed a new financial director, Xia Huanghui, effective from March 9, 2021, to enhance financial management[20] - There were no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[30] - The company has not engaged in any entrusted wealth management activities during the reporting period[28] Regulatory and Compliance - The first quarter report for 2021 has not been audited[67] - The company has implemented the new leasing standards starting from 2021, affecting prior comparative data[66] - The company implemented new leasing standards starting in 2021, resulting in an increase of CNY 31,693,548.14 in right-of-use assets[62]

2020 年 10 月 1 广东天禾农资股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人邹宁、主管会计工作负责人柯英超及会计机构负责人(会计主管 人员)柯英超声明：保证季度报告中财务报表的真实、准确、完整。 2 广东天禾农资股份有限公司 2020 年第三季度报告全文 广东天禾农资股份有限公司 2020 年第三季度报告 广东天禾农资股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 4,734,312,067.87 | 3,314,647,959.92 | | 42.83% | | 归属于上市公司股东的净资产 | 1,023,905,60 ...