编号：2023-01 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活 | □媒体采访 √业绩说明会 | | 动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 （请文字说明其他活动内容） | | 参与单位名称 及人员姓名 | 线上参与公司天山生物 2022 年度网上业绩说明会的投资者 | | 时间 | 2023 年 05 月 19 日（星期五）15:00-17:00 | | 地点 | "天山生物投资者关系"微信小程序 | | 上市公司接待 人员姓名 | 董事长：马长水先生 董事、副总经理、董事会秘书：韩明辉先生 | | | 总经理：葛建军先生 | | | 财务总监：陈越凡女士 | | | 独立董事：吴武清先生 | | 投资者关系活 | 公司于 2023 年 5 月 19 日 15:00-17:00 在"天山生物投 1、问：马董您好：公司今年有再融资的打算吗，或者说 公司今年购买优质资产的打算吗？ | | | 资者关系"微信小程序采用网络远程方式举行 2022 年度网上 | | | 业绩说明会。 | | | 答：感谢您的提问。公司年度审计报告 ...

Financial Performance - The company's net profit for the reporting period was negative, primarily due to lower-than-expected revenue from live livestock business, resulting in overall gross profit and profitability not meeting expectations[8]. - Non-operating losses impacted net profit, with a reduction of 9.2027 million yuan, and a foreign currency translation difference from the disposal of an overseas subsidiary reduced net profit by 10.0362 million yuan[9]. - The company's operating revenue for 2022 was ¥76,350,268.21, a decrease of 29.29% compared to ¥107,976,195.34 in 2021[29]. - The net profit attributable to shareholders was -¥31,848,222.21, representing a decline of 16.65% from -¥27,302,573.67 in the previous year[29]. - The net profit after deducting non-recurring gains and losses was -¥22,645,548.15, an improvement of 63.79% compared to -¥62,540,184.58 in 2021[29]. - The cash flow from operating activities was -¥7,565,896.10, showing a significant improvement of 78.42% from -¥35,061,014.17 in the previous year[29]. - The total assets at the end of 2022 were ¥332,145,607.55, a decrease of 16.80% from ¥842,790,652.79 at the end of 2021[29]. - The net assets attributable to shareholders decreased by 19.08% to ¥84,261,480.39 from ¥104,129,406.24 in 2021[29]. - The basic earnings per share for 2022 was -¥0.10, a decline of 11.11% from -¥0.09 in the previous year[29]. - The company reported a significant reduction in operating revenue after deductions, amounting to ¥72,077,741.50 in 2022 compared to ¥105,380,686.29 in 2021[30]. - The company has faced uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the last three accounting years[29]. Business Strategy and Market Position - The company aims to return to its core competencies in breeding and fattening after experiencing challenges from cross-industry mergers and acquisitions[4]. - The company is positioned to address China's significant beef consumption gap, which is approximately 10 million tons annually, with nearly 3 million tons relying on imports[4]. - The company has established a solid foundation in the breeding sector, particularly in Tongliao, known as the hometown of Simmental cattle[4]. - The company emphasizes the importance of breeding as a fundamental solution to meet domestic beef consumption needs[4]. - The company is focused on improving meat cattle production efficiency and quality through innovation and modern breeding techniques[42]. - The company aims to enhance its competitive advantage by implementing cost-reduction strategies and collaborating with upstream and downstream partners[41]. - The company plans to develop beef cattle fattening industries in key breeding areas such as Xinjiang and Inner Mongolia, focusing on capital, management, and technology integration[54]. - The company is expanding its influence in the beef market, particularly in regions with a long history of cattle breeding, such as Inner Mongolia[66]. Industry Context and Challenges - The meat cattle breeding industry is experiencing a supply-demand imbalance, with China importing approximately 3 million tons of beef annually[41]. - The domestic meat cattle farming industry is still in its early stages, with only 4.1% of farms having over 1,000 heads of cattle[45]. - The gap between domestic beef consumption and production has widened significantly, with a consumption gap of 2.69 million tons in 2022, which is 26% of total consumption[46]. - The Chinese government aims to achieve a beef self-sufficiency rate of approximately 85% by 2025, as outlined in various policy documents[48]. - The average annual per capita beef consumption in China is only 7.3 kg, significantly lower than Argentina's 64.2 kg, indicating substantial growth potential[46]. - The compound annual growth rate (CAGR) of domestic beef consumption from 2012 to 2021 exceeded 50%, highlighting increasing demand[46]. Governance and Management - The company has established a comprehensive internal control system to enhance governance and compliance with relevant laws and regulations[130]. - The company maintains independence from its controlling shareholder in terms of operations, assets, and finances, ensuring autonomous decision-making capabilities[135]. - The company has committed to transparent information disclosure, ensuring all shareholders have equal access to information[133]. - The company has actively respected and maintained the rights of stakeholders, promoting balanced interests among shareholders, employees, and society[134]. - The company has a structured approach to determining the remuneration of its executives, ensuring alignment with shareholder interests[151]. - The company has a significant focus on compliance and governance, as evidenced by the legal qualifications of its management team[147]. - The company has pledged to avoid any competitive business activities that may conflict with the operations of the listed company and its subsidiaries[180]. Legal and Regulatory Issues - The company is actively pursuing legal actions related to a contract fraud case involving the restructured Elephant Advertising, with ongoing court proceedings[77]. - The company faced disciplinary actions from the Shenzhen Stock Exchange and the China Securities Regulatory Commission due to failures in timely and accurate disclosures related to significant investments and related party transactions[150]. - The company has received an administrative penalty of 300,000 yuan from the China Securities Regulatory Commission for information disclosure violations related to a major asset restructuring[126]. - The company is in the process of addressing legal issues related to the former actual controller's contract fraud case, which may impact its financial reporting[199]. Future Outlook and Plans - The company plans to focus on the Chinese beef cattle industry, aiming to become a leading enterprise by implementing a "big beef cattle strategy" that includes breeding and beef cattle farming[112]. - The company aims to enhance its breeding business and beef cattle farming, aiming to stabilize and improve profitability through effective operational management and cost control[117]. - In 2023, the company aims to restart its meat business, leveraging its proximity to the Beijing-Tianjin-Hebei market and the availability of beef sources[118]. - The company intends to optimize its asset structure and reduce financial risks by disposing of idle assets and seeking direct financing[119]. - The company has committed to sustainability initiatives, targeting a 20% reduction in carbon emissions by 2025[189]. Employee and Stakeholder Engagement - The total number of employees at the end of the reporting period was 107, with 16 in the parent company and 91 in major subsidiaries[163]. - Employee training programs are implemented to enhance skills and management capabilities, combining internal and external training[165]. - The company has not implemented any employee stock ownership plans or other employee incentive measures during the reporting period[168]. - The independent directors fulfilled their responsibilities in the profit distribution process, ensuring shareholder interests were protected[166].

Financial Performance - The company's revenue for Q1 2023 was CNY 23,156,538.66, representing an increase of 85.05% compared to CNY 12,513,598.14 in the same period last year[4] - The net profit attributable to shareholders was a loss of CNY 4,015,972.23, an improvement of 14.63% from a loss of CNY 4,704,224.83 in the previous year[4] - Total operating revenue for Q1 2023 was CNY 23,156,538.66, an increase of 85.4% compared to CNY 12,513,598.14 in the same period last year[28] - The net profit for Q1 2023 was -4,187,542.06 CNY, compared to -4,850,052.66 CNY in Q1 2022, indicating a 13.7% improvement year-over-year[29] - Operating profit for Q1 2023 was -3,577,013.03 CNY, an improvement from -4,253,297.33 CNY in the same period last year, reflecting a 15.9% increase[29] - The company reported a total comprehensive loss of -4,187,542.06 CNY for Q1 2023, compared to a loss of -2,339,570.19 CNY in Q1 2022[30] - Basic and diluted earnings per share for Q1 2023 were both -0.0128 CNY, compared to -0.0150 CNY in Q1 2022[30] Cash Flow and Assets - The net cash flow from operating activities decreased by 60.96% to CNY 5,336,772.76, down from CNY 13,668,439.97 in the same period last year[4] - Current assets totaled CNY 103,617,004.82 as of March 31, 2023, down 11.9% from CNY 117,638,304.71 at the beginning of the year[25] - The company's cash and cash equivalents were CNY 45,331,434.33, a decrease of 4.1% from CNY 47,288,291.92 at the start of the year[24] - Cash and cash equivalents at the end of Q1 2023 were 45,331,434.33 CNY, down from 122,047,971.83 CNY at the end of Q1 2022, representing a 62.9% decline[33] - The total assets at the end of the reporting period were CNY 316,181,952.90, a decrease of 4.81% from CNY 332,145,607.55 at the end of the previous year[4] - Total liabilities decreased to CNY 226,201,543.59 from CNY 237,977,656.18, a reduction of 5.2%[26] Operating Costs and Income - The operating costs rose by 112.71% to CNY 20,922,380.31, compared to CNY 9,835,924.63 in the previous year, reflecting increased sales activity[9] - Total operating costs for Q1 2023 were CNY 27,560,427.12, up 50.1% from CNY 18,369,110.26 in Q1 2022[28] - Operating costs included CNY 20,922,380.31 in cost of goods sold, which rose significantly from CNY 9,835,924.63 in the previous year, reflecting a 112.5% increase[28] - The company reported a significant increase in operating income, primarily due to a rise in live livestock sales volume[9] - The company recorded a 170.30% increase in other operating income, amounting to CNY 118,716.00, mainly from the sale of patent technology[9] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,618[11] - As of the report date, the controlling shareholder, Huzhou Haohui, holds 69,211,312 shares, representing 22.11% of the total share capital, with 15,350,000 shares pledged[16] - Chen Dehong holds 37,279,083 shares, accounting for 11.91% of the total share capital, with 36,509,768 shares pledged and all shares frozen[17] Legal and Regulatory Issues - The company was involved in a significant legal case regarding contract fraud, resulting in a judgment that included the return of 37,279,083 shares from Chen Dehong and 78,345,524 shares from other shareholders[20] - The company faced a major loss due to fraudulent activities during the acquisition of Daxiang Advertising, leading to a criminal case against involved parties[20] - The company has been actively pursuing legal actions to recover losses from the fraudulent acquisition, with ongoing litigation against 33 parties involved in the stock transfer dispute[21] - The total transaction price for acquiring 96.21% of Daxiang Advertising was 2,372.6142 million yuan[14] - The company is currently awaiting the outcome of an appeal related to the stock transfer dispute, which has not yet been heard in the second instance[21] Investment and Development - The company's cash inflow from investment activities was CNY 148,172.00, a significant increase from CNY 0.00 in the previous year[10] - Research and development expenses for Q1 2023 were 181,359.78 CNY, a decrease of 16.7% from 217,754.69 CNY in Q1 2022[29] Agricultural Policy Impact - In Q1 2023, the government allocated a total of 20,300 acres for agricultural planting, reflecting a decrease in available planting area due to water resource management policies[19] - The company has been adjusting its operational strategies in response to changes in agricultural policies and legal challenges[19]

证券代码：300313 证券简称：ST天山 公告编号：2023-048 投资者依据提示，授权登入"天山生物投资者关系"小程序，即可参与交流。 出席本次年度业绩网上说明会的人员有：董事长马长水先生；总经理葛建军 先生；董事、副总经理、董事会秘书韩明辉先生；财务总监陈越凡女士；独立董 事吴武清先生。 公司将在 2022 年度网上业绩说明会上，对投资者普遍关注的问题进行回答。 在业绩交流会期间，投资者仍可登录活动界面进行互动提问。欢迎广大投资者积 极参与本次年度业绩网上说明会。 新疆天山畜牧生物工程股份有限公司 关于举行 2022 年度网上业绩说明会并征集相关问题的公告 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。 新疆天山畜牧生物工程股份有限公司（以下简称"公司"）《2022 年年度 报告》及《2022 年年度报告摘要》已于 2023 年 4 月 26 日刊登于中国证监会指 定的创业板信息披露网站巨潮资讯网（www.cninfo.com.cn）。 为便于广大投资者更深入全面地了解公司情况，公司定于 2023 年 5 月 19 日（星期五）下午 15:00 至 1 ...

证券代码：300313 证券简称：天山生物 新疆天山畜牧生物工程股份有限公司 投资者关系活动记录表 编号：2015-01 | --- | --- | --- | |----------------|--------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | ■ 特定对象调研 | □ 分析师会议 | | 投资者关系活动 | □ 媒体采访 | □ 业绩说明会 | | 类别 | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | | 长城新盛信托有限责任公司：曾江 ...

证券代码：300313 证券简称：天山生物 新疆天山畜牧生物工程股份有限公司 投资者关系活动记录表 编号：2016-01 | --- | --- | --- | |----------------|-----------------------------|----------------------------------------------------------| | | | | | | √特定对象调研 | □ 分析师会议 | | 投资者关系活动 | □ 媒体采访 | □ 业绩说明会 | | 类别 | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 西南证券股份有限公司 徐卿 | | | 人员姓名 | | | | 时间 | 2016 年 6 月 2 日 | | | 地点 | 东方广场二十楼公司会议室 | | | 上市公司接待人 | | | | 员姓名 | 证券事务代表 于舒玮 | | | 投资者关系活动 | 1 、大肉牛战略实施情况 | | | 主要内容介绍 | 公司从 2014 | 年开始实施大肉牛战 ...

证券代码：300313 证券简称：天山生物 新疆天山畜牧生物工程股份有限公司 投资者关系活动记录表 编号：2016-02 | --- | --- | --- | |----------------|--------------------------------|--------------------------------------------------------| | | | | | | √特定对象调研 | □ 分析师会议 | | 投资者关系活动 | □ 媒体采访 | □ 业绩说明会 | | 类别 | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | | | 南方基金管理有限公司：叶欣、罗安安 | | 参与单位名称及 | | 兴业证券股份有限公司：陈嵩昆、卜忠林 | | 人员姓名 | 财通证券资产管理有限公司：林伟 | | | | 融通基金管理有限公司：杨博琳 | | | 时间 | 2016 年 7 月 4 日 | | | 地点 | 东方广场二十楼公司会议室 | | | 上市公司接待人 | 财务总监 何波 | | | 员姓 ...

Financial Performance - The company's revenue for Q3 2022 was ¥17,410,920.69, representing a decrease of 14.39% compared to the same period last year[5] - The net profit attributable to shareholders was -¥16,273,102.20, a decline of 42.37% year-on-year[5] - The net profit after deducting non-recurring gains and losses was -¥7,716,932.62, showing an improvement of 31.12% compared to the previous year[5] - The company reported a 23.84% decrease in year-to-date revenue, totaling ¥46,438,688.52, primarily due to the timing of livestock sales and pandemic-related market closures[12] - Total operating revenue for the third quarter was ¥46,438,688.52, a decrease of 23.8% compared to ¥60,974,559.03 in the same period last year[33] - The net loss for the period was ¥28,568,998.45, compared to a net loss of ¥22,757,074.87 in the previous year, representing a 25.5% increase in losses[34] - The total comprehensive loss for the period was ¥16,588,702.09, compared to a loss of ¥27,814,845.50 in the previous year[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥788,347,788.01, down 6.46% from the end of the previous year[5] - The company's current assets decreased to CNY 127,503,149.28 from CNY 172,594,314.35, representing a reduction of about 26.1%[31] - The company's cash and cash equivalents dropped to CNY 70,520,414.30 from CNY 108,882,819.76, indicating a decline of approximately 35.2%[31] - Accounts receivable decreased significantly from CNY 27,118,081.66 to CNY 4,817,356.16, a reduction of about 82.2%[31] - Total liabilities decreased to CNY 690,702,465.88 from CNY 728,431,283.02, showing a decline of approximately 5.2%[32] - The company's total equity decreased to CNY 97,645,322.13 from CNY 114,359,369.77, reflecting a decline of about 14.6%[32] Cash Flow - Cash flow from operating activities for the year-to-date was -¥2,760,039.21, reflecting a significant decline of 202.61%[5] - The company reported a net cash outflow from operating activities of ¥2,760,039.21, contrasting with a net inflow of ¥2,689,846.42 in the same quarter last year[37] - Cash inflow from financing activities increased by 92.99% to ¥124,480,000.00, attributed to refinancing strategies[15] - The company experienced a significant increase in cash inflow from financing activities, totaling ¥124,480,000.00, compared to ¥64,500,000.00 in the previous year[37] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,010[17] - The largest shareholder, Huzhou Haohui Enterprise Management Consulting Co., Ltd., holds 22.11% of the shares, totaling 69,211,312 shares, with 26,350,000 shares pledged[20] - Chen Dehong, a significant shareholder, holds 11.91% of the shares, totaling 37,279,083 shares, with 36,509,768 shares pledged and all shares frozen[22] - The company’s major shareholder, Huzhou Haohui, has 38.07% of its shares pledged, which represents 8.42% of the total shares outstanding[20] Legal and Operational Issues - The company has been unable to exercise control over Daxiang Advertising due to legal issues involving its former actual controller, Chen Dehong, who is under criminal investigation[19] - The company’s control measures over Daxiang Advertising have been obstructed, preventing it from consolidating Daxiang Advertising into its financial statements[19] - The company has ongoing litigation regarding equity transfer disputes involving 33 parties, with no judgment rendered as of the latest update[29] - The company continues to monitor its financial position and is exploring strategies for market expansion and potential restructuring[29] Impairment and Development - The company has recognized an impairment provision of RMB 28.69 million due to changes in agricultural land use and water resource management policies affecting its farming operations[25] - The company’s agricultural development land area is expected to decrease to 23,940 acres in 2022 due to government water allocation adjustments[25] Expenses - Total operating costs amounted to ¥67,220,917.63, down 20.0% from ¥84,936,720.19 year-on-year[33] - Research and development expenses increased to ¥361,344.55, up from ¥106,752.77, indicating a focus on innovation[33] - The company incurred financial expenses of ¥11,824,955.02, which is an increase from ¥10,105,895.30 year-on-year[33]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥29,027,767.83, a decrease of 28.57% compared to ¥40,638,020.74 in the same period last year[24]. - The net profit attributable to shareholders for the first half of 2022 was -¥12,011,071.53, representing a decline of 16.37% from -¥10,321,114.82 in the previous year[24]. - The net profit after deducting non-recurring gains and losses improved to -¥12,191,840.74, a 71.61% increase compared to -¥42,945,653.51 in the same period last year[24]. - The net cash flow from operating activities was -¥2,436,813.41, showing a significant improvement of 73.17% from -¥9,083,387.26 in the previous year[24]. - The total assets at the end of the reporting period were ¥813,130,697.58, a decrease of 3.52% from ¥842,790,652.79 at the end of the previous year[24]. - The net assets attributable to shareholders decreased by 11.67% to ¥91,978,933.36 from ¥104,129,406.24 at the end of the previous year[24]. - The basic earnings per share for the first half of 2022 were -¥0.0384, a decline of 16.36% compared to -¥0.0330 in the same period last year[24]. - The diluted earnings per share were also -¥0.0384, reflecting the same percentage decline as the basic earnings per share[24]. - The weighted average return on net assets was -12.25%, a decrease of 5.36% from -6.89% in the previous year[24]. Business Operations - The company continued to focus on beef cattle fattening and breeding businesses despite challenges from COVID-19 and regional control policies[32]. - The company has completed the liquidation of its overseas controlled companies, facilitating capital recovery[32]. - The main business includes breeding, sales, and import/export of cattle and sheep, as well as production and sales of frozen semen and embryos[33]. - The company has established a comprehensive technical service system for breeding, management, and disease prevention to support farmers[34]. - The company primarily adopts an order sales model for its young heifer business, organizing cattle procurement and production management based on customer demand[38]. - The company implements a scientific method for concentrated fattening of cattle, purchasing high-quality feeder cattle through trading markets or order-based external procurement[39]. - The average fattening cycle for producing high-quality beef is between 100-300 days, with specific feeding targets and technical requirements to meet established standards[40]. - The company has established a procurement plan that includes purchasing standards and pricing, sourcing high-quality feeder cattle from local markets and long-term partners[40]. Market Trends - The domestic beef consumption has grown from 6.04 million tons in 2011 to 8.61 million tons in 2020, with a compound annual growth rate of 4%[43]. - The domestic beef production increased from 6.11 million tons in 2011 to 6.72 million tons in 2020, with a compound annual growth rate of 1.07%[44]. - The consumption gap for domestic beef has significantly widened, reaching approximately 2.33 million tons in 2021, accounting for 25% of the total beef consumption that year[44]. - The company is positioned within a growing beef industry, with increasing demand and a focus on improving breeding efficiency and beef quality[41]. - The company is aligned with national agricultural policies aimed at enhancing livestock breeding and promoting the beef industry[42]. Strategic Initiatives - The company plans to enhance beef cattle fattening operations by transforming existing pastures and implementing standardized processes[52]. - The company aims to introduce a digital ranch management system to control core production indicators and reduce costs[52]. - The company plans to focus on the Chinese beef cattle industry over the next five years, restarting its "Big Beef Cattle Strategy" to strengthen breeding and expand beef cattle fattening operations[55]. - The company aims to become a leading enterprise in China's beef cattle industry by deepening its core operations in key breeding areas such as Xinjiang, Inner Mongolia, and Jilin[55]. Legal and Compliance Issues - The company is currently involved in legal proceedings related to contract fraud, which may impact financial stability and investor confidence[85]. - The company has been penalized with a fine of 300,000 CNY for information disclosure violations, leading to potential investor lawsuits totaling 1,788,700 CNY[87]. - The company has committed to comply with the regulations regarding related party transactions and will bear responsibility for any violations[116]. - The company is involved in a criminal lawsuit related to contract fraud, with the case entering the prosecution stage on October 23, 2019, and a first-instance judgment on September 29, 2021, confirming the fraud charges against the original controller and the company[124]. Research and Development - Research and development expenses increased by 122.47% to CNY 228,820.64, up from CNY 102,854.25 in the previous year[63]. - The company is focusing on innovative technologies in livestock breeding, with research and development investments increasing by 30% year-over-year, totaling 150 million yuan[109]. - The company has not engaged in any research and development of new products or technologies during the reporting period[98]. Shareholder Information - The company holds 69,211,312 shares by its controlling shareholder, accounting for 22.11% of the total share capital, with 26,350,000 shares pledged, representing 38.07% of the shares held[152]. - The largest shareholder, Huzhou Haohui Enterprise Management Consulting Co., Ltd., held 22.11% of shares, totaling 69,211,312 shares[167]. - The total number of ordinary shareholders at the end of the reporting period was 19,674[167]. Future Outlook - The company provided a positive outlook for the second half of 2022, projecting a revenue increase of 20% compared to the first half, aiming for 1.44 billion yuan[109]. - Future outlook remains positive, with management emphasizing a commitment to sustainable growth and innovation[111]. - The company expects a revenue growth forecast of 20% for the next fiscal year, driven by new product launches and market expansion[111].

Financial Performance - The company reported a total impairment loss of CNY 42.299 million, including an intangible asset impairment of CNY 28.695 million due to a cautious assessment related to land use rights[6]. - The company's operating income decreased, primarily due to a decline in live livestock sales and rental income, resulting in a decrease in overall gross margin[6]. - Non-recurring gains and losses impacted net profit by approximately CNY 35.238 million, with net gains from the disposal of Australian ranch assets amounting to CNY 31.358 million[9]. - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves[10]. - The company experienced a significant increase in income tax expenses by CNY 8.15 million due to gains from the disposal of Australian ranch land assets[8]. - The company's operating revenue for 2021 was ¥107,976,195.34, a decrease of 33.88% compared to ¥163,309,323.59 in 2020[26]. - The net profit attributable to shareholders was -¥27,302,573.67, representing a decline of 748.22% from a profit of ¥4,211,925.94 in 2020[26]. - The net cash flow from operating activities was -¥35,061,014.17, a decrease of 356.24% compared to ¥13,682,992.18 in 2020[26]. - The total assets at the end of 2021 were ¥842,790,652.79, down 7.08% from ¥907,019,358.37 at the end of 2020[26]. - The net assets attributable to shareholders decreased by 32.81% to ¥104,129,406.24 from ¥154,968,706.03 in 2020[26]. - The company reported a basic earnings per share of -¥0.09, a decline of 1,000.00% from ¥0.01 in 2020[26]. - The weighted average return on equity was -21.08%, down 23.85% from 2.77% in 2020[26]. - The company recorded non-operating income of ¥35,237,610.91 in 2021, compared to ¥23,006,018.65 in 2020[31]. - The company achieved total operating revenue of 107.98 million yuan in 2021, a decrease of 33.88% year-on-year[67]. - The company reported a net profit attributable to shareholders of -27.30 million yuan, reflecting a significant loss[67]. - Total assets as of December 31, 2021, were 842.79 million yuan, a decrease of 7.08% compared to the previous year[67]. - The company’s equity attributable to shareholders decreased by 32.81% to 104.13 million yuan[67]. - The company’s total operating costs were ¥100,322,077.56, resulting in a net loss for the year[74]. Market and Industry Trends - Domestic beef consumption increased from 6.04 million tons in 2011 to 8.61 million tons in 2020, with a compound annual growth rate (CAGR) of 4%[39]. - The domestic beef production rose from 6.11 million tons in 2011 to 6.72 million tons in 2020, with a CAGR of only 1.07%, leading to a significant consumption gap[40]. - The beef consumption gap expanded from 50,500 tons in 2012 to 2.069 million tons in 2020, with a staggering CAGR of 52.25%[40]. - In 2021, the domestic beef consumption gap reached approximately 2.33 million tons, accounting for 25% of the total beef consumption that year[40]. - The government aims to achieve an 85% self-sufficiency rate for beef by 2025, emphasizing the importance of increasing domestic beef production[41]. - The Xinjiang region plans to increase its beef cattle population to 15 million by 2025, with a target of 8 million head for breeding stock and over 50% of production in large-scale operations[42]. Company Strategy and Operations - The company is focusing on enhancing its breeding technology and improving the quality of beef production as part of its strategic initiatives[35]. - The company is recognized as a national-level frozen semen production unit and has a significant presence in the breeding of Simmental cattle, ranking 17th in the top 100 breeding values nationwide[45]. - The company has established a modern breeding system integrating breeding, nutrition, and management, providing comprehensive services to cattle farmers[45]. - The company is actively involved in initiatives to enhance the genetic improvement of beef cattle through collaborations with national breeding centers and the establishment of breeding alliances[45]. - The company aims to develop beef cattle fattening in key regions such as Xinjiang, Inner Mongolia, Gansu, Ningxia, Shandong, and Henan, combining capital, management, and technology to enhance existing ranches[46]. - The introduction of a digital ranch management system is planned to strictly control core production indicators, reduce production costs, and improve breeding efficiency[46]. - The company has established a comprehensive technical service system for breeding, management, and disease prevention, providing high-quality services to farmers[49]. - The company has accumulated valuable experience in beef cattle business development, focusing on the integration of breeding and fattening operations[46]. - The company plans to enhance its breeding capabilities by introducing advanced genetic materials through embryo transfer and purchasing from national core breeding farms[48]. - The company has a strategic layout in major beef cattle breeding areas, including Xinjiang, Inner Mongolia, Shandong, and Ningxia[60]. Research and Development - The company’s research and development expenses increased by 98.26% to ¥1,514,603.44, primarily due to an increase in technical service fees[81]. - R&D investment amounted to ¥1,514,603.44, representing 1.40% of operating revenue, an increase from 0.47% in 2020[84]. - The number of R&D personnel decreased by 5.26% from 19 in 2020 to 18 in 2021, while the proportion of R&D personnel increased from 18.63% to 20.93%[83]. - The company is investing 100 million CNY in research and development for new technologies aimed at enhancing product efficiency[128]. - The company is investing 100 million CNY in R&D for new technologies aimed at improving product efficiency[199]. Governance and Compliance - The company has established a long-term training mechanism and improved internal controls to mitigate management risks associated with business expansion[115]. - The board of directors consists of 9 members, including 3 independent directors, and held 8 meetings during the reporting period, complying with governance regulations[120]. - The company held two shareholder meetings during the reporting period, with participation rates of 33.06% and 33.89% respectively[125]. - The company has implemented measures to ensure the independence of its operations, assets, and finances from its controlling shareholders[124]. - The company is actively cooperating with judicial and regulatory authorities to expedite the resolution of the fraud case and mitigate uncertainties regarding its operations[114]. - The company has engaged professional lawyers to address investor lawsuits and minimize potential losses[116]. - The company emphasizes the importance of maintaining communication with stakeholders to balance interests and promote sustainable development[123]. Legal and Risk Management - The company is currently involved in a criminal case related to contract fraud, with 33 counterparties involved in litigation, creating uncertainty regarding the final judgment[114]. - The annual audit report for 2021 contains a qualified opinion due to the unresolved fraud case, indicating uncertainty about the company's ability to continue as a going concern[114]. - The company faces a risk of investor lawsuits, with claims totaling approximately 1.79 million yuan as of the reporting period, which may increase as the case progresses[115]. - The company is implementing measures to mitigate disease risks in cattle breeding, including vaccination and biosecurity protocols[112]. - The company has committed to ensuring no losses arise from obligations related to advertising rights on four highways, with full responsibility for any liabilities[178]. Future Outlook - The company aims to become a leading player in China's beef industry by implementing a "Big Beef Cattle Strategy" from 2020 to 2025, focusing on breeding and fattening operations[104]. - The first phase of the strategy (2020-2022) targets the establishment of a professional beef cattle fattening management team and the development of standardized fattening practices[104]. - The company plans to expand its beef cattle fattening operations in key regions such as Xinjiang, Inner Mongolia, Gansu, and Ningxia through self-operation, cooperation, and acquisitions[104]. - The company has outlined its strategy to manage potential risks associated with its advertising business and related legal matters[180]. - The company plans to pursue strategic acquisitions to enhance its product offerings and market reach, with a budget of 500 million CNY allocated for this purpose[197].