北京国枫律师事务所 关于新疆西部牧业股份有限公司 2023 年第二次临时股东大会的 法律意见书 国枫律股字[2023]A0439 号 致：新疆西部牧业股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出 席并见证贵公司 2023 年第二次临时股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》 （以下简称"《股东大会规则》"）、《律师事务所从事证券法律业务管理办法》 （以下简称"《证券法律业务管理办法》"）、《律师事务所证券法律业务执业 规则（试行）》（以下简称"《证券法律业务执业规则》"）等相关法律、行政 法规、规章、规范性文件及《新疆西部牧业股份有限公司章程》（以下简称"《公 司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、出席会议人 员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员 资格、会议表决程序及表决结果 ...

证券代码：300106 证券简称：西部牧业 公告编号：临 2023-048 新疆西部牧业股份有限公司 关于董事会完成换届选举的公告 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。 新疆西部牧业股份有限公司（以下简称"公司"）于 2023 年 8 月 18 日召开了 2023 年第二次临时股东大会，审议通过了《关于公司董 事会换届选举并提名第四届董事会非独立董事候选人的议案》及《关 于公司董事会换届选举并提名第四届董事会独立董事候选人的议案》， 选举出公司第四届董事会成员，任期自本次股东大会审议通过之日起 三年，具体内容详见公司于 2023 年 8 月 18 日在巨潮资讯网披露的 《2023 年第二次临时股东大会决议公告》。现将有关情况公告如下： 一、公司第四届董事会成员组成情况 非独立董事：李昌胜先生、牛红女士、梁雷先生、陈玉新先生、 荆铭女士、王伟先生； 独立董事：陈建国先生、宋亮先生、王东盛先生。 公司第四届董事会成员均具备担任上市公司董事的任职资格，未 收到过中国证监会及其他有关部门的处罚和证券交易所纪律处分，不 存在《公司法》中规定的不得担任公司董事的 ...

证券代码：300106 证券简称：西部牧业 公告编号：临2023-046 新疆西部牧业股份有限公司 关于控股子公司参与资产租赁竞拍的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 新疆西部牧业股份有限公司（以下简称"公司"）于 2023 年 7 月 6 日召开了第三届董事会第三十六次会议和第三届监事会第三十 五次会议，审议通过了《关于控股子公司拟参与资产租赁竞拍的议案》， 同意控股子公司新疆石河子花园乳业有限公司（以下简称"花园乳业"） 参与竞拍关联法人新疆西部天山乳业有限公司（以下简称"天山乳业"） 挂牌出租的乳品加工厂部分在建工程、固定资产及一宗土地使用权。 具体内容详见同日公司在巨潮资讯网（www.cninfo.com.cn）披露的 《关于控股子公司拟参与资产租赁竞拍的公告》（公告编号：临 2023- 031）。2023 年 7 月 18 日，花园乳业取得新疆产权交易所出具的成交 价格确认单及《新疆产权交易所产权交易凭证》，花园乳业中标成为 承租方，并与天山乳业签订了房产及设备租赁合同。具体内容详见同 日公司在巨潮资讯网（www.cninfo. ...

证券代码：300106 证券简称：西部牧业 公告编号：临2023-027 新疆西部牧业股份有限公司 关于参加新疆辖区上市公司 2023 年投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，新疆西部牧业股份有限公司 （以下简称"公司"）将参加由新疆证监局、新疆上市公司协会与深 圳市全景网络有限公司联合举办的"2023年新疆辖区上市公司投资者 集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" 网站（http://rs.p5w.net），或关注微信公众号：全景财经，或下载全 景路演APP，参与本次互动交流，活动时间为2023年6月16日（周五） 15:30-18:00。届时公司高管将在线就公司2022年度业绩、公司治理、 发展战略、经营状况、融资计划、股权激励和可持续发展等投资者关 心的问题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与。 出席本次集体接待日的人员有：公司董事长李昌胜先生、董事会 秘书梁雷先生、财务总监周桂红女士。 特此公告。 新疆西 ...

Revenue and Profit - Revenue for Q1 2023 was CNY 282,326,439.25, a decrease of 4.87% compared to CNY 296,789,793.80 in the same period last year[3] - Net profit attributable to shareholders was CNY 2,177,215.48, down 4.70% from CNY 2,284,528.38 year-on-year[3] - Net profit excluding non-recurring items dropped significantly by 63.67% to CNY 1,038,670.25 from CNY 2,859,177.63 in the previous year[3] - Total operating revenue for Q1 2023 was ¥282,326,439.25, a decrease of 4.9% compared to ¥296,789,793.80 in Q1 2022[20] - Net profit for Q1 2023 reached ¥9,213,121.80, an increase of 21.7% from ¥7,567,780.80 in Q1 2022[21] - The company’s total comprehensive income for Q1 2023 was ¥9,213,121.80, compared to ¥7,567,780.80 in Q1 2022[22] Cash Flow - Cash flow from operating activities improved by 17.75%, reaching CNY -26,850,111.74 compared to CNY -32,646,382.04 last year[3] - The net cash flow from operating activities was -¥26,850,111.74, an improvement from -¥32,646,382.04 in Q1 2022[25] - The company reported a net cash inflow from financing activities of ¥8,242,126.67, down from ¥28,517,773.60 in the previous year[25] - The net increase in cash and cash equivalents for Q1 2023 was -20,503,902.07, compared to -7,521,839.06 in the same period last year[26] Assets and Liabilities - Total assets increased by 2.52% to CNY 1,220,155,454.68 from CNY 1,190,181,545.26 at the end of the previous year[3] - Total assets as of March 31, 2023, amounted to CNY 1,220,155,454.68, an increase from CNY 1,190,181,545.26 at the beginning of the year[15] - Current assets totaled CNY 708,859,929.78, up from CNY 664,493,420.47 at the start of the year, indicating a growth of approximately 6.4%[15] - Total liabilities as of March 31, 2023, were CNY 481,140,210.47, compared to CNY 460,379,422.85 at the beginning of the year, showing an increase of approximately 4.3%[17] - Short-term borrowings increased to CNY 205,000,000.00 from CNY 196,000,000.00, reflecting a rise of about 4.1%[17] - The company reported a total equity of CNY 739,015,244.21 as of March 31, 2023[17] Investments and Expenses - Research and development expenses decreased by 66.11% compared to the same period last year, indicating reduced investment in R&D[8] - Investment income fell by 286.25%, attributed to a decrease in equity method investment income from associated companies[8] - The company’s investment losses amounted to -¥4,460,721.63 in Q1 2023, compared to -¥1,154,876.33 in the same period last year[20] Other Financial Metrics - Cash and cash equivalents decreased to CNY 322,262,913.48 from CNY 342,766,815.55, reflecting a decline of about 6.5%[15] - Accounts receivable increased significantly to CNY 135,320,580.37 from CNY 84,240,572.05, representing a growth of approximately 60.7%[15] - Inventory rose to CNY 169,806,807.61 from CNY 147,060,946.96, marking an increase of about 15.5%[15] - Earnings per share for Q1 2023 were ¥0.0103, a slight decrease from ¥0.0108 in Q1 2022[22] Operational Changes - The company reported a 66.76% increase in construction in progress, primarily due to upgrades in the milk powder workshop and concentrated system installation[6] - Other operating income rose by 71.13%, mainly due to a subsidiary recognizing non-repayable debt as income[9] - Cash flow from investing activities increased by 44.13%, reflecting reduced cash outflow from fixed asset investments[9] Audit Status - The Q1 2023 report has not been audited[26]

Financial Performance - The company's operating revenue for 2022 was CNY 1,324,514,621.66, representing a 17.43% increase compared to CNY 1,127,956,763.43 in 2021[21]. - The net profit attributable to shareholders for 2022 was CNY 12,984,781.30, a decrease of 9.88% from CNY 14,408,910.20 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 9,347,129.88, down 50.50% from CNY 18,882,319.54 in 2021[21]. - The net cash flow from operating activities increased by 24.34% to CNY 115,060,475.98 from CNY 92,540,359.54 in the previous year[21]. - The total assets at the end of 2022 were CNY 1,190,181,545.26, reflecting a 9.48% increase from CNY 1,087,167,060.96 at the end of 2021[21]. - The net assets attributable to shareholders increased by 2.19% to CNY 605,528,788.71 from CNY 592,544,007.41 in 2021[21]. - The basic earnings per share for 2022 were CNY 0.06, a decrease of 14.29% from CNY 0.07 in the previous year[21]. - The diluted earnings per share also stood at CNY 0.06, down 14.29% from CNY 0.07 in 2021[21]. - The weighted average return on net assets was 1.88%, a decrease of 0.30% from 2.18% in the previous year[21]. Market Trends and Industry Insights - The dairy industry is recognized as a strategic sector for national development, with government policies supporting its growth, which may benefit the company's operations[33]. - The dairy industry in China is one of the fastest-growing sectors since the reform and opening up, with a significant increase in demand for high-quality products and services as the economy recovers[34]. - The trend towards high-value-added dairy products is driven by rising health awareness and diversified consumer preferences, leading to a shift towards premium, functional, and differentiated products[38]. - The dairy industry is experiencing a shift from a "quantity-focused" to a "quality-focused" consumption model, with consumers demanding a wider variety of dairy products[37]. - The government has implemented strict policies and standards for dairy processing projects, raising the entry barriers for new entrants in the industry[39]. - The stable supply of high-quality milk sources is crucial for dairy production, with large enterprises accelerating their layout in advantageous milk source areas[39]. - Brand recognition and loyalty are significant barriers in the dairy industry, requiring substantial time and financial investment for new entrants to establish a competitive brand[41]. Product Development and Innovation - The company is focusing on the development of new technologies and products, including IoT-based feed processing and quality monitoring systems, to enhance operational efficiency[27]. - The company has obtained organic milk certification for its two core brands, enhancing its market competitiveness[49]. - The company is actively investing in research and development for new technologies, including methods for producing soybean protein and yogurt[97]. - The company has developed functional low-temperature milk, full-fat flavored fermented milk, and organic milk series products[108]. - The company has completed the development of functional children's formula milk powder, enhancing product value and market competitiveness[129]. - The company has successfully launched new products, including a probiotic yogurt bag and a packaging design for pure milk, both of which have received patent authorization[97]. Sales and Distribution - In 2022, direct sales revenue decreased by 56.21% to CNY 2,442.62 million, primarily due to a decline in sales to local supermarkets and student milk programs, while distribution revenue increased by 26.17% to CNY 102,105.19 million due to market expansion outside the region[72]. - The number of distributors increased by 6.68% to 415, with a notable rise in both regional and non-regional areas, indicating successful market penetration strategies[75]. - The company has established a strong market presence through various sales channels, including e-commerce platforms and offline retail, enhancing consumer engagement and brand visibility[70]. - The company employs a combined direct sales and distribution model, utilizing online and offline channels, with a significant focus on big data and IoT technologies to maintain sales channels and pricing systems[68]. Financial Management and Governance - The company has not reported any significant discrepancies between financial data under international and Chinese accounting standards, ensuring consistency in financial reporting[24][25]. - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management[163]. - The company has a dedicated financial department with an independent accounting system and tax compliance[168]. - The company emphasizes social responsibility and actively engages with stakeholders to balance interests[166]. - The company has a total of 8 board members, including 3 independent directors[173]. - The company maintains an independent governance structure, ensuring separation from the controlling shareholder in assets, personnel, and operations[167]. Operational Challenges and Risks - The company has experienced a loss of -10.56 million from debt restructuring, indicating challenges in financial management during the reporting period[28]. - The company faces increasing market competition risks due to brand and sales channel limitations, which may hinder rapid growth in scale, products, technology, and market expansion[155]. - The company has implemented strict disease prevention measures in its dairy farming operations to safeguard against potential outbreaks that could affect milk supply and quality[158]. - The company is actively pursuing government subsidies and tax incentives related to the dairy and feed processing industries to mitigate potential impacts from changes in government support[157]. Future Outlook and Strategic Goals - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[88]. - The company aims to stabilize the self-sufficiency level of infant formula milk powder at over 60% by 2023, with a focus on quality improvement and brand cultivation[65]. - The company aims to leverage unique natural resources in Xinjiang to enhance fresh milk quality, strengthen product R&D, and expand markets outside Xinjiang to increase market share and competitiveness[155]. - The company has set ambitious performance guidance for the upcoming fiscal year, aiming for a double-digit growth rate in revenue[96]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 200 million CNY allocated for this purpose[88].

证券代码：300106 证券简称：西部牧业 公告编号：临 2023-018 新疆西部牧业股份有限公司 出席本次说明会的人员有：公司董事长李昌胜先生、独立董事秦明 先生、财务总监周桂红女士、董事会秘书梁雷先生。敬请广大投资者积 极参与。 特此公告。 关于举行 2022 年度报告网上业绩说明会的公告 本公司及董事会全体成员保证公告内容真实、准确、完整，并对公告中的虚假记载、误导 性陈述或者重大遗漏承担责任。 新疆西部牧业股份有限公司（以下简称"公司"）于 2023 年 4 月 25 日披露《2022 年年度报告》，为了让广大投资者能进一步了解公司 2022 年年度报告及经营情况，公司将于 2023 年 5 月 12 日（星期五） 下午 15:00-17:00 举行 2022 年年度报告网上业绩说明会。本次网上说 明会将采用网络远程的方式举行，投资者可通过以下方式参与互动交 流，提问通道自发出公告之日起开放。 参与方式一：在微信小程序中搜索"西部牧业投资者关系"； 参与方式二：微信扫一扫以下二维码： 投资者依据提示，授权登入"西部牧业投资者关系"微信小程序， 即可参与交流。 1 新疆西部牧业股份有限公司董事会 二〇 ...

Revenue and Profitability - Revenue for Q3 2022 reached ¥351,725,025.36, an increase of 17.54% year-over-year, while total revenue for the year-to-date was ¥973,430,435.30, up 18.37% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2022 was ¥2,482,440.24, a significant increase of 53.07% year-over-year, with year-to-date net profit at ¥14,562,441.40, showing a modest increase of 0.93%[4] - The net profit excluding non-recurring gains and losses for Q3 2022 was ¥3,781,089.93, up 131.65% year-over-year, while the year-to-date figure was ¥13,780,862.27, down 10.65%[4] - Total operating revenue for the period reached CNY 973,430,435.30, an increase of 18.4% compared to CNY 822,356,786.29 in the previous period[20] - Net profit for the period was CNY 33,638,798.34, a decrease of 1.8% from CNY 35,276,264.92 in the same period last year[22] - The company reported a total comprehensive income of CNY 33,638,798.34, slightly down from CNY 35,276,264.92 in the previous year[22] Cash Flow and Liquidity - Cash flow from operating activities for the year-to-date reached ¥104,327,429.96, an increase of 39.98%[4] - Net cash flow from operating activities grew by 39.98% year-to-date, driven by increased cash inflows from sales at Garden Dairy[12] - The company reported a net cash flow from operating activities of CNY 104,327,429.96, an increase of 40.0% compared to CNY 74,530,035.30 in the previous period[24] - Net cash flow from investing activities decreased by 64.15% year-to-date, primarily due to reduced fixed asset investments by Garden Dairy and Tianshan Yunmu Dairy[12] - Net cash flow from financing activities increased by 261.34% year-to-date, as there were no dividend distributions to shareholders this period compared to the previous year[12] - The net increase in cash and cash equivalents was ¥117,375,193.38, compared to ¥50,120,357.28 in the previous period, showing strong liquidity growth[25] - The ending balance of cash and cash equivalents was ¥358,802,922.20, up from ¥258,087,994.99 in the previous period[25] Assets and Liabilities - Total assets at the end of Q3 2022 were ¥1,254,496,523.60, reflecting a growth of 15.39% compared to the end of the previous year[4] - Total current assets as of September 30, 2022, amounted to CNY 717,705,236.55, up from CNY 523,715,290.79 at the beginning of the year[18] - Total assets reached CNY 1,254,496,523.60 as of September 30, 2022, compared to CNY 1,087,167,060.96 at the start of the year[18] - Total liabilities included short-term borrowings of CNY 211,000,000.00, up from CNY 187,000,000.00 at the start of the year[18] - The total liabilities increased to CNY 536,973,966.69 from CNY 403,283,302.39, reflecting a growth of 33.2%[20] Expenses - Operating expenses increased by 383.11% year-to-date compared to the same period last year, primarily due to donations and other non-recurring losses[12] - Income tax expenses rose by 267.58% year-to-date, mainly attributed to increased tax expenses from the subsidiary Garden Dairy[12] - The company recorded an increase in sales expenses to CNY 60,581,211.03, up from CNY 48,017,294.88, reflecting a 26.5% rise[20] - Research and development expenses increased to CNY 3,255,474.47, compared to CNY 2,613,510.75 in the previous period, showing a growth of 24.5%[20] Investments and Production - The company is actively engaged in the construction of new production lines, including a 10,000-ton infant formula production line and a 1.8 million-ton Tetra Pak liquid dairy production line[5] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was ¥4,808,682.24, a decrease of 64.7% from ¥13,593,232.01 in the previous period[25] - Net cash flow from investment activities was -¥4,787,362.24, compared to -¥13,355,091.01 in the previous period, indicating an improvement[25] Shareholder Information - The total equity attributable to shareholders of the parent company rose to CNY 607,106,448.81, up from CNY 592,544,007.41, marking a 2.6% increase[20] - Basic earnings per share improved to CNY 0.0689 from CNY 0.0683, indicating a slight growth in profitability per share[22]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 621,705,409.94, representing an increase of 18.84% compared to CNY 523,130,816.25 in the same period last year[22]. - The net profit attributable to shareholders decreased by 5.67% to CNY 12,080,001.16 from CNY 12,805,888.51 year-on-year[22]. - The net profit after deducting non-recurring gains and losses fell by 27.50% to CNY 9,999,772.34 compared to CNY 13,791,880.52 in the previous year[22]. - The net cash flow from operating activities surged by 378.83% to CNY 65,590,285.77, up from CNY 13,698,045.60 in the same period last year[22]. - Total assets increased by 9.64% to CNY 1,191,930,395.63 from CNY 1,087,167,060.96 at the end of the previous year[22]. - The net assets attributable to shareholders rose by 2.04% to CNY 604,624,008.57 compared to CNY 592,544,007.41 at the end of the previous year[22]. - The company reported a total of 420,000 cubic meters of compliant wastewater discharge for the year, with 170,000 cubic meters reused for site greening and road cleaning[134]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the first half of 2022, representing a year-over-year growth of 15%[71]. - The company reported a significant increase in revenue, with a year-on-year growth of 15% in the first half of 2022[72]. Market and Industry Trends - The dairy industry in China is experiencing rapid growth, with liquid milk demand increasing at over 25% and the overall dairy consumption expected to rise significantly due to improving living standards[34]. - The industry is witnessing a trend towards higher market concentration, with major brands gaining market share through mergers and acquisitions, enhancing their control over supply chains[35]. - There is a growing demand for product innovation and differentiation in the dairy sector, driven by consumer preferences for diverse and healthy options[35]. - The dairy industry in China has seen a rapid increase in the number of processing enterprises, with nearly 5,000 companies emerging over the past decade, leading to a more concentrated market[40]. - The dairy industry in China is currently in an upward cycle, with increasing consumer demand for dairy products as living standards improve[48]. Product Development and Innovation - The company has launched a series of products targeting different age groups, including infant formula and senior milk powder, enhancing product diversification[42]. - The company is focusing on expanding its self-owned dairy farms to increase the proportion of self-supplied raw milk, which is expected to rise continuously in the future[47]. - The company is actively involved in the development of the entire dairy industry chain, which includes feed processing, dairy farming, and meat processing[42]. - The company is investing in research and development for new product innovations, particularly in the dairy and nutrition sectors[69]. - The company is expanding its product line to include protein dietary supplements and various food supplements, targeting health-conscious consumers[69]. Risk Management - The company faces various risks including product quality, market competition, and environmental protection[6]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[5]. - The company is exposed to risks from animal diseases affecting fresh milk supply and has implemented strict disease prevention measures[120]. - The company has established an environmental management system to comply with increasing environmental regulations and aims to reduce pollution and improve resource utilization[117]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the industry[70]. - The company is focusing on logistics and cold chain services to improve its distribution capabilities and ensure product freshness[69]. - The company has developed a comprehensive sales strategy that includes online platforms, new media marketing, and various offline channels to enhance market reach[51]. - The company is leveraging advanced technologies such as big data and IoT to maintain product sales channels and pricing systems[49]. Financial Management - Operating costs increased to ¥512,062,580.35, up 16.08% from ¥441,140,850.89 year-on-year[87]. - Sales expenses rose significantly by 44.29% to ¥37,874,600.82, primarily due to increased sales efforts and advertising costs[87]. - Management expenses increased by 34.10% to ¥24,932,765.64, mainly driven by higher employee compensation related to performance management[87]. - Research and development investment grew by 31.58% to ¥2,498,048.41, reflecting the company's commitment to enhancing R&D efforts[87]. - The company reported a net loss of CNY 249,222,080.42 as of June 30, 2022, compared to a loss of CNY 261,302,081.58 at the beginning of the year, indicating a reduction in losses[185]. Corporate Social Responsibility - The company donated 700 units of Garden brand infant formula to communities in Shanghai to support COVID-19 relief efforts[137]. - The company, through its subsidiary Garden Dairy, donated products worth over 50,000 yuan to the "Love Garden" rehabilitation center[137]. - The company provided one year’s supply of Garden Fairy brand infant formula to five families with three children in Urumqi, Changji, and Shihezi cities as part of the national three-child policy support[137].

Revenue and Profit - The company's revenue for Q1 2022 was CNY 296,789,793.80, representing a 22.13% increase compared to CNY 243,012,169.11 in the same period last year[3] - Net profit attributable to shareholders was CNY 2,284,528.38, a 4.95% increase from CNY 2,176,693.60 year-on-year[3] - Total operating revenue for Q1 2022 was CNY 296,789,793.80, an increase of 22.2% compared to CNY 243,012,169.11 in the same period last year[17] - The net profit for the first quarter of 2022 was CNY 7,567,780.80, an increase of 17.4% compared to CNY 6,445,424.36 in the same period last year[18] - The total profit for the first quarter was CNY 7,959,134.42, up 17.8% from CNY 6,755,073.00 in the previous year[18] - Operating profit increased to CNY 8,452,356.51, representing a growth of 14.0% from CNY 7,413,387.71 in the prior year[18] - The company reported a basic and diluted earnings per share of CNY 0.0108, compared to CNY 0.0103 in the previous year[19] - The total comprehensive income for the first quarter was CNY 7,567,780.80, reflecting a significant increase from CNY 6,445,424.36 in the same period last year[19] Cash Flow - The net cash flow from operating activities decreased significantly by 1,491.66%, resulting in a negative cash flow of CNY -32,646,382.04 compared to a positive CNY 2,345,861.72 in the previous year[3] - Cash inflow from operating activities totaled CNY 285,239,642.45, compared to CNY 262,728,783.88 in the previous year[20] - The company's cash outflow from operating activities was CNY 317,886,024.49, compared to CNY 260,382,922.16 in the previous year[21] - The company's cash and cash equivalents at the end of Q1 2022 were CNY 236,744,749.76, a decrease of 3.1% from CNY 244,266,588.82 at the beginning of the year[13] - Cash and cash equivalents at the end of the period were CNY 233,905,889.76, slightly down from CNY 225,615,605.55 at the end of the previous year[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,151,720,293.98, up 5.94% from CNY 1,087,167,060.96 at the end of the previous year[3] - Accounts receivable increased by 77.06%, attributed to higher receivables from the subsidiary Quan Sheng Livestock[6] - The company’s total liabilities increased, with accounts payable rising by 41.44% due to increased raw material purchases[6] - Total liabilities increased to CNY 460,268,754.61, up 14.2% from CNY 403,283,302.39 at the beginning of the year[15] - The company’s total equity increased to CNY 691,451,539.37, up from CNY 683,883,758.57 at the beginning of the year[16] - Inventory at the end of Q1 2022 was CNY 126,086,182.47, an increase of 12.7% from CNY 111,891,505.36 at the beginning of the year[14] Research and Development - The company reported a 33.33% increase in R&D expenses, reflecting increased investment in innovation and product development[7] Non-Operating Income - The company experienced a 275.53% increase in non-operating income, primarily due to government subsidies received for agricultural projects[7] Impairment Loss - The company incurred a credit impairment loss of CNY -2,942,701.61 during the quarter[18] Profit Distribution - The company reported a decrease in undistributed profits to CNY -259,017,553.20 from CNY -261,302,081.58 at the beginning of the year[16]