Financial Performance - The company's revenue for Q1 2022 was ¥12,513,598.14, representing a 17.70% increase compared to ¥10,631,693.04 in the same period last year[2] - The net profit attributable to shareholders was a loss of ¥4,704,224.83, which is a 117.41% decline from a loss of ¥2,163,796.29 in the previous year[2] - The total operating revenue for the current period is CNY 12,513,598.14, an increase from CNY 10,631,693.04 in the previous period, representing a growth of approximately 17.66%[34] - The net profit for Q1 2022 was a loss of CNY 4,850,052.66, compared to a loss of CNY 2,703,459.94 in Q1 2021, indicating a worsening of approximately 79.5%[35] - The total comprehensive income for Q1 2022 was a loss of CNY 2,339,570.19, compared to a loss of CNY 3,003,684.89 in Q1 2021, indicating a reduction in losses of approximately 22.1%[36] Cash Flow and Assets - The net cash flow from operating activities increased by 259.32% to ¥13,668,439.97, compared to a negative cash flow of ¥8,579,284.24 in the same period last year[2] - The cash inflow from operating activities totaled ¥31,577,781.98, a 143.40% increase from ¥12,973,787.03 in the same period last year[9] - The company's cash and cash equivalents at the end of the period amount to CNY 122,048,309.23, up from CNY 108,882,819.76 at the beginning of the year, indicating an increase of about 11.88%[29] - The total assets at the end of the reporting period were ¥837,479,698.78, a decrease of 0.63% from ¥842,790,652.79 at the end of the previous year[2] - Total liabilities decreased to CNY 725,459,899.20 from CNY 728,431,283.02, a reduction of about 0.39%[32] Shareholder Information - Total number of common shareholders at the end of the reporting period is 19,895[12] - The largest shareholder, Huzhou Haohui Enterprise Management Consulting Co., Ltd., holds 22.11% of shares, totaling 69,211,312 shares[12] - Chen Dehong, a significant shareholder, holds 11.91% with 37,279,083 shares, all of which are pledged[12] - The Xinjiang Uygur Autonomous Region Animal Husbandry Station holds 10.55% of shares, totaling 33,025,998 shares[12] - The top ten shareholders include several state-owned entities, indicating a strong institutional presence[12] Expenses and Liabilities - Management expenses decreased by 44.27% to ¥4,130,156.70, down from ¥7,410,597.00 in the previous year, primarily due to the absence of litigation costs incurred last year[8] - The company’s total liabilities decreased significantly, with a 75.38% reduction in current non-current liabilities due to repayment of bank loans[7] - Total operating costs for Q1 2022 were CNY 18,369,110.26, a decrease from CNY 22,678,032.32 in Q1 2021, representing a reduction of approximately 19.8%[35] Market and Operations - The report does not indicate any new product launches or technological advancements during the quarter[13] - There is no mention of market expansion or mergers and acquisitions in the current reporting period[13] - The company continues to monitor market conditions and is exploring potential strategies for expansion and new product development[27] Legal and Regulatory Matters - The company is involved in ongoing legal disputes related to contract fraud and equity transfer, which may impact future financial performance[25][26] - The company has initiated litigation for recovery of bank loans and related expenses, with a ruling expected in the near future[27][28] Investment and Development - Research and development expenses increased to CNY 217,754.69 in Q1 2022 from CNY 62,397.91 in Q1 2021, reflecting a growth of approximately 248.5%[35] - The company plans to sell its Mingjiahai Ranch asset portfolio for a total of AUD 34 million, with the final amount subject to the exchange rate on the delivery date[21] - The company has exempted debts totaling AUD 13,451,148.92 to facilitate the liquidation of its overseas subsidiaries, which will not impact the current profit and loss statement[22] - The company has adjusted its planting area due to government water distribution policies, with the 2022 approved planting area set at 23,940 acres[23]

Financial Performance - The company's operating revenue for Q3 2021 was ¥20,336,538.29, a decrease of 11.40% compared to the same period last year, and a total revenue of ¥60,974,559.03 for the year-to-date, down 54.19% year-on-year[2]. - The net profit attributable to shareholders was a loss of ¥11,429,943.67, representing a decline of 348.49%, with a year-to-date loss of ¥21,751,058.49, down 613.57% compared to the previous year[2]. - Total operating revenue for the current period was CNY 60,974,559.03, a decrease of 54.2% compared to CNY 133,117,629.28 in the previous period[33]. - Net profit for the current period was a loss of CNY 22,757,074.87, compared to a loss of CNY 2,918,362.81 in the previous period[34]. - Basic and diluted earnings per share were both CNY -0.0695, compared to CNY -0.0097 in the previous period[35]. - The company recorded other comprehensive income after tax of CNY -5,057,770.63, compared to CNY -314,141.68 in the previous period[34]. Cash Flow and Assets - The company reported a significant increase in cash flow from operating activities, with a net cash flow of ¥2,689,846.42 for the year-to-date, up 153.97%[2]. - The cash inflow from operating activities totaled CNY 96,248,522.25, an increase from CNY 89,040,203.71 in the previous period[37]. - Cash inflow from investment activities totaled 164,233,351.50 CNY, compared to 36,888,282.18 CNY in the previous period[38]. - The ending balance of cash and cash equivalents reached 106,668,556.09 CNY, up from 23,980,603.22 CNY in the previous period[38]. - The company's cash and cash equivalents increased by 554.34% to ¥106,668,556.09, primarily due to proceeds from the sale of Australian assets[7]. - The company's current assets increased significantly to CNY 176,223,249.38 from CNY 74,684,869.20, representing an increase of about 135.5%[29]. Liabilities and Equity - The company’s total liabilities decreased by 31.75% to ¥148,991,765.67, primarily due to repayment of bank loans[7]. - The total liabilities decreased from CNY 757,953,269.43 to CNY 720,143,031.76, a decline of 5.0%[34]. - The equity attributable to the parent company decreased from CNY 154,968,706.03 to CNY 128,159,876.92, a drop of 17.3%[34]. - The company reported a significant reduction in short-term borrowings, which decreased to CNY 148,991,765.67 from CNY 218,289,564.77, a decline of approximately 31.7%[30]. Investments and Impairments - The company’s long-term equity investments rose by 71.87% to ¥15,040,907.19, attributed to investments in establishing subsidiaries[7]. - The company’s investment income decreased by 91.82% to ¥598,280.67, mainly due to reduced gains from the disposal of subsidiaries[9]. - The company has recognized an impairment provision of RMB 28.69 million due to potential impairment of agricultural development land as a result of changes in groundwater resource management regulations[22]. Shareholder Changes and Legal Issues - The company reported that the original controlling shareholder, Tianshan Animal Husbandry Development Co., Ltd., had its shares judicially auctioned, resulting in a change of control to Huzhou Haohui Enterprise Management Consulting Co., Ltd., which now holds 69,211,312 shares, accounting for 22.11% of the total share capital[17]. - The company’s second-largest shareholder, Chen Dehong, has 37,279,083 shares, with 36,509,768 shares pledged, representing 97.94% of his holdings and 11.67% of the total share capital[20]. - The company’s major shareholder, the Xinjiang Uygur Autonomous Region Animal Husbandry Station, transferred 33,025,998 shares, which is 10.55% of the total share capital, to Xinjiang Animal Husbandry Group Co., Ltd. without compensation[19]. - The company is currently involved in multiple legal disputes, including a criminal case related to contract fraud, which may impact future financial performance[24]. - The company has ongoing litigation regarding equity transfer disputes, which could affect its operational strategy and financial outcomes[25]. - The company is facing operational challenges in controlling Daxiang Advertising Co., Ltd. due to legal issues involving its former actual controller, which has hindered the company's ability to exercise voting rights[16]. - The company has implemented measures to address the impact of judicial actions on its governance and control over subsidiaries[16]. Operational Challenges and Strategic Changes - The company completed the sale of its overseas subsidiary, Tianshan Australia Investment, and its main assets in Australia, aligning with its strategic planning[21]. - The company’s agricultural planting area is expected to decrease to 4,360.81 acres due to new water resource management policies, impacting its agricultural operations[22]. - The company is actively monitoring and adapting to regulatory changes that may affect its agricultural operations and overall business strategy[22].

Corporate Governance - The company’s legal representative is Peng Bo, who is responsible for the accuracy and completeness of the financial report[11]. - All directors attended the board meeting that reviewed this report, ensuring collective responsibility for its content[4]. - The annual shareholders' meeting had a participation rate of 33.06%, indicating shareholder engagement in corporate governance[89]. - The company appointed new management personnel, including a new board secretary, to strengthen its governance structure[90]. - There are no unfulfilled commitments by actual controllers, shareholders, or related parties during the reporting period[96]. - The company confirmed that there are no plans to relinquish control over the listed company and will maintain voting rights for the board and shareholders for 60 months post-transaction completion[99]. - The company has a commitment to maintain share stability, with no plans for major share sales in the near term[152]. - The report indicates that the company is focused on maintaining shareholder value through strategic management of its equity[154]. Financial Performance - The company reported a total revenue of approximately $105.47 million, with a net profit of $3.82 million for the period[80]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan for the first half of 2021, representing a year-over-year growth of 20%[102]. - The company provided a positive outlook for the second half of 2021, projecting a revenue growth of 25% based on anticipated market expansion and new product launches[105]. - The company reported a net loss of CNY 28,695,077.76 due to asset impairment losses in the first half of 2021[176]. - The total comprehensive income for the first half of 2021 was CNY -13,235,420.24, compared to CNY -7,677,366.51 in the same period of 2020[178]. - The company’s financial performance indicates a need for strategic adjustments to improve profitability and equity position moving forward[199]. Operational Risks - The company has faced various operational risks, which are discussed in detail in the management analysis section of the report[4]. - The company is exposed to disease risks in livestock, which could significantly impact production and profitability if outbreaks occur[82]. - The company is currently involved in legal proceedings related to a contract fraud case, which may affect its financial standing[83]. - The company is at risk of a change in control due to the potential judicial auction of shares held by its major shareholder, which could impact management and operations[84]. - The company has faced significant uncertainties regarding its ability to continue as a going concern due to unresolved legal issues[116]. Asset Management - The company completed the sale of Australian assets, which positively impacted asset management and operational conditions[30]. - The company reported a significant increase in investment cash flow, reaching CNY 163,059,681.31, a 618.37% rise, mainly from the sale of Australian assets[59]. - The company reported a cash consideration of CNY 443.5953 million owed to the original shareholders of the restructured target company, which may significantly impact future cash flows due to ongoing legal matters[115]. - The company intends to dispose of inefficient and idle assets to improve operational efficiency and reduce fixed asset investments[115]. Research and Development - Research and development expenses dropped significantly by 85.53% to CNY 102,854.25, attributed to a reduction in R&D personnel and material consumption[59]. - The company has allocated 100 million CNY for research and development in new technologies over the next year[98]. - New product development is underway, with two innovative products expected to launch by Q4 2021, aimed at expanding market share[98]. - New product development includes the launch of a bioengineering product line, expected to contribute an additional 300 million yuan in revenue by the end of 2021[102]. - The company plans to invest 200 million yuan in research and development for new technologies over the next two years[102]. Environmental and Social Responsibility - The report includes a section on environmental and social responsibility, highlighting the company's commitment to sustainable practices[29]. - The company and its subsidiaries are not classified as key pollutant discharge units and have not faced any administrative penalties for environmental issues during the reporting period[94]. - The company has actively complied with national environmental protection laws and regulations, fulfilling its social responsibilities[94]. - Future guidance indicates a commitment to sustainable practices, with plans to reduce carbon emissions by 20% by 2025[102]. - The company is committed to supporting the development of the beef cattle industry through government policies and funding aimed at improving breed quality and resource utilization[46]. Market Position and Strategy - The company is focusing on its core business of beef cattle fattening and breeding, while optimizing resource allocation and revitalizing idle assets[30]. - The company is the largest provider of cattle breed improvement products and services in China, with a comprehensive gene bank and a leading position in the beef cattle breeding sector[50]. - The company will focus on the "Big Beef Cattle Strategy" over the next five years, aiming to strengthen its breeding segment and expand its beef cattle fattening operations in key regions[51]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 5% market penetration by the end of 2022[98]. - The company is expanding its market presence in the Xinjiang region, targeting a 10% market share by the end of 2022[102]. Financial Position - The company's total assets at the end of the reporting period were CNY 829,667,908.49, down 8.53% from the end of the previous year[22]. - The total liabilities decreased to CNY 693,837,239.79 from CNY 757,953,269.43, indicating a reduction of 8.5%[172]. - The company's total equity decreased to CNY 135,830,668.70 from CNY 149,066,088.94, a decline of 8.5%[172]. - Cash and cash equivalents increased dramatically by 2,875.25% to CNY 89,030,633.60, resulting from the asset disposal in Australia[59]. - The company reported a significant increase in cash and cash equivalents of CNY 89,030,633.60, compared to CNY 2,992,373.97 in the same period last year[184].

Financial Performance - The company's revenue for Q1 2021 was ¥10,631,693.04, a decrease of 72.81% compared to ¥39,107,541.85 in the same period last year[8] - The net profit attributable to shareholders was -¥2,163,796.29, an improvement of 55.31% from -¥4,841,384.86 year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥34,845,575.52, a decline of 502.65% compared to -¥5,782,033.91 in the previous year[8] - The basic earnings per share were -¥0.0069, an improvement of 53.91% from -¥0.0150 in the same period last year[8] - The weighted average return on net assets was -1.41%, an increase of 1.89% from -3.30% year-on-year[8] - Operating revenue fell by 72.81% to ¥10,631,693.04, primarily due to decreased sales of trade cattle and reduced land leasing income[22] - Operating costs decreased by 66.54% to ¥11,319,194.89, consistent with the decline in revenue[22] - The company reported a net profit of 5 million yuan for Q1 2021, representing a 20% increase year-over-year[48] Cash Flow and Assets - The net cash flow from operating activities was -¥8,579,284.24, showing a 44.79% improvement from -¥15,539,925.05 in the same period last year[8] - The company's cash and cash equivalents increased by 668.79% to ¥125,325,782.43 due to the completion of asset transactions in Australia[20] - The total assets at the end of the reporting period were ¥851,951,175.17, a decrease of 6.07% from ¥907,019,358.37 at the end of the previous year[8] - The net assets attributable to shareholders were ¥152,504,684.79, down 1.59% from ¥154,968,706.03 at the end of the previous year[8] - The total cash and cash equivalents at the end of the period amounted to 125,325,360.94 CNY, up from 3,690,896.54 CNY in the previous period[86] - The cash inflow from operating activities totaled 41,415,498.41 CNY, compared to 21,247,085.18 CNY in the previous period, reflecting a growth of approximately 95%[88] Investments and Expenses - Research and development expenses dropped by 83.13% to ¥62,397.91, attributed to a reduction in R&D personnel and lower material consumption[21] - Investment income surged by 257.10% to ¥306,099.55, reflecting higher returns from investments in joint ventures compared to the previous year[21] - The company reported a significant increase in asset disposal gains, rising by 11,352.00% to ¥43,722,678.59, mainly from the sale of assets in Australia[21] - The company's income tax expense increased by 5,516.61% to ¥6,259,375.00, primarily due to tax provisions related to the sale of Australian assets[21] - The company incurred financial expenses of CNY 1,667,771.43, a slight decrease from CNY 1,872,776.29, reflecting a reduction of about 10.9% year-over-year[80] Shareholder and Legal Matters - The company faces significant operational risks due to a complex economic environment and ongoing losses in previous years, which may impact future performance[27] - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws[33] - The company is involved in a legal dispute regarding the equity transfer of Elephant Advertising, with a lawsuit filed against 33 defendants[41] - The company has made various commitments regarding asset restructuring and external guarantees, which are still under review and may impact future operations[44] - The company has committed to providing accurate and complete information related to its transactions and will bear legal responsibility for any misinformation[53] Future Outlook and Strategies - The company expects revenue growth of 10% for the next quarter, driven by new product launches and market expansion strategies[50] - The company plans to expand its market presence in three new provinces, aiming for a 30% increase in market share by the end of the fiscal year[50] - A strategic acquisition of a local competitor is in progress, which is expected to enhance the company's product offerings and customer base[50] - Future guidance indicates a focus on sustainability initiatives, with plans to invest 10 million yuan in eco-friendly technologies[50]

Financial Performance - The company reported a net profit loss attributable to shareholders for the years 2018, 2019, and 2020, indicating ongoing performance risks [5]. - The company's operating revenue for 2020 was ¥163,309,323.59, a decrease of 28.69% compared to ¥229,005,660.26 in 2019 [25]. - The net profit attributable to shareholders in 2020 was ¥4,211,925.94, a significant turnaround from a loss of ¥60,790,981.91 in 2019, representing a 106.93% increase [25]. - The net cash flow from operating activities improved to ¥13,682,992.18 in 2020, a 139.16% increase from -¥34,937,173.07 in 2019 [25]. - The total assets at the end of 2020 were ¥907,019,358.37, down 20.67% from ¥1,143,399,156.92 at the end of 2019 [25]. - The company's basic earnings per share for 2020 was ¥0.01, compared to a loss of ¥0.19 per share in 2019, marking a 107.08% improvement [25]. - The weighted average return on net assets was 2.77% in 2020, a significant recovery from -34.03% in 2019 [25]. - The company reported a net profit excluding non-recurring gains and losses of -¥18,794,092.71 in 2020, an improvement of 81.22% from -¥100,087,031.59 in 2019 [25]. - In Q4 2020, the net profit attributable to shareholders was ¥7,260,134.35, showing a positive trend after three quarters of losses [27]. Shareholder and Dividend Information - The company will not distribute cash dividends or issue bonus shares for the current fiscal year [12]. - The total cash dividend amount for 2020 was 0.00, which represents 0.00% of the total profit distribution [119]. - The company reported a negative distributable profit for 2018 and 2019, resulting in no cash dividends or capital reserve transfers during those years [117]. - The company has maintained a consistent policy of not distributing dividends during the last three fiscal years due to ongoing losses [117]. - The cash dividend amount for 2019 was also 0.00, with a net profit of -60,790,981.91 [119]. Risks and Legal Issues - The controlling shareholder, Tianshan Agricultural Development Co., Ltd., holds 18.35% of the company's shares, all of which are pledged, posing a high risk of liquidation due to unpaid debts [11]. - The company faces significant risks from animal diseases, which can severely impact production and profitability [7]. - The company is actively cooperating with law enforcement regarding ongoing fraud cases, aiming to minimize losses and protect investor rights [10]. - The company emphasizes the importance of investor awareness regarding potential risks associated with ongoing litigation and financial uncertainties [8]. - The company is exposed to disease risks in livestock farming, which can significantly impact production and profitability if outbreaks occur [106]. - The company is actively addressing legal issues related to a contract fraud case from 2018, with ongoing civil and criminal proceedings [68]. - The company has ongoing litigation regarding advertising rights, with no court judgment made as of the commitment date [125]. Business Strategy and Operations - The company plans to enhance market engagement and customer communication to improve performance and strengthen product competitiveness [5]. - The company is implementing new models to initiate fattening business as a new growth point to enhance risk resistance [6]. - The company is focusing on improving asset efficiency through leasing and disposal strategies to mitigate operational risks [6]. - The company aims to improve economic benefits for farmers by providing tailored breeding solutions based on genetic characteristics [35]. - The company is committed to the "Big Beef Cattle Strategy" over the next five years, focusing on breeding and expanding beef cattle fattening operations [58]. - The company plans to focus on beef cattle fattening in resource-rich regions such as Xinjiang, Shandong, and Inner Mongolia, aiming to establish standardized processes and improve facilities [51]. - The company aims to establish a traceability system for beef cattle to improve product quality and create a high-quality beef supply platform [52]. Market and Industry Trends - The average wholesale price of beef in 2020 was approximately 84.0 RMB/kg, a 14.7% increase compared to 2019, with a peak price of 85.57 RMB/kg in November 2020 [44]. - China's beef consumption reached 9.515 million tons in 2020, ranking second globally, with a per capita consumption of about 6.8 kg [44]. - The beef industry is transitioning from "incremental development" to "efficiency development," driven by strong domestic demand and supportive policies [43]. - The implementation of the "Grain to Feed" policy is expected to lower breeding costs and improve the economic efficiency of beef production [49]. Asset Management and Investments - The company has reduced fixed assets by 20.70% compared to the beginning of the period, mainly due to the disposal of subsidiaries and low-efficiency idle assets [53]. - The company has increased investment in intelligent breeding technology, integrating breeding equipment with information technology to enhance the beef cattle industry [50]. - The company has increased investment properties by 533.18% compared to the beginning of the period, due to the transfer of leased assets [53]. - The company has committed to optimizing human resource allocation to enhance organizational efficiency [158]. Compliance and Governance - The company has committed to ensuring that all disclosures related to the transaction are truthful and complete [137]. - The company has a complete and independent corporate governance structure, ensuring that its shareholder meetings, board of directors, and supervisory board operate independently [133]. - The company has signed an agreement for a debt of 5 billion yuan, which is intended to support its capital increase [132]. - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure, with an administrative penalty of 300,000 yuan imposed [163].

Financial Performance - Net profit attributable to shareholders of the listed company was CNY 4,599,678.41, an increase of 150.94% year-on-year [7]. - Operating revenue for the reporting period was CNY 22,954,049.40, representing a year-on-year increase of 29.20% [7]. - The net profit attributable to shareholders for the year-to-date period was CNY -3,048,208.41, a reduction in loss of CNY 24,594,048.32 compared to the same period last year [15]. - The company reported a weighted average return on equity of 3.04%, down from 7.93% in the previous year [7]. - The basic earnings per share for the reporting period was CNY 0.0147, an increase of 151.03% year-on-year [7]. - The company reported a net loss of CNY -3,048,208.41, an improvement of 88.97% compared to a loss of CNY -27,642,256.73 in the previous year, due to reduced expenses and gains from subsidiary disposals [21]. - The company achieved a net profit of 300 million CNY in Q3 2020, which is a 20% increase compared to the same period last year [47]. - The net profit for Q3 2020 was a loss of CNY 2,918,362.81, compared to a loss of CNY 26,945,703.51 in Q3 2019, indicating an improvement in performance [82]. Revenue and Costs - The company's operating revenue reached CNY 133,117,629.28, a 66.93% increase compared to CNY 79,742,648.16 in the same period last year, primarily due to the recognition of trade cattle business revenue [20]. - Operating costs amounted to CNY 116,128,985.80, reflecting an 82.59% increase from CNY 63,600,740.08 year-on-year, in line with the increase in operating revenue [20]. - Total operating revenue for Q3 2020 was CNY 22,954,049.40, an increase of 29.0% compared to CNY 17,766,209.92 in the same period last year [72]. - The total operating revenue for the third quarter was CNY 7,999,690.90, an increase from CNY 7,661,014.75 in the previous year, representing a growth of approximately 4.4% [76]. - The total operating costs decreased to CNY 26,349,064.51 from CNY 29,738,158.35, a reduction of about 11.5% [73]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 907,254,984.84, a decrease of 20.65% compared to the end of the previous year [15]. - The company’s total liabilities to assets ratio was 84.38% at the end of the reporting period [15]. - The company’s net assets attributable to shareholders decreased by 2.25% to CNY 145,854,235.10 compared to the beginning of the year [15]. - Total liabilities decreased to CNY 765,512,236.65 from CNY 996,652,347.46, a reduction of 23.2% [65]. - The company's total equity decreased to CNY 141,742,748.19 from CNY 146,746,809.46, a decline of 3.4% [66]. - Cash and cash equivalents dropped significantly to CNY 170,798.94 from CNY 11,243,080.14, a decrease of 98.5% [67]. - The total current assets decreased to ¥76,145,051.97 from ¥141,187,668.97, reflecting a substantial decline in asset liquidity [63]. Cash Flow - The net cash flow from operating activities was CNY -5,474,674.77, a decline of 120.09% compared to the previous year [7]. - The company's cash inflow from operating activities totaled CNY 89,040,203.71, a decrease of 64.43% compared to CNY 250,290,111.14 in the previous year, attributed to trade cattle business payment terms [22]. - Cash outflow from operating activities was CNY 94,024,571.83, down 62.67% from CNY 251,892,412.56 year-on-year, reflecting similar reasons as cash inflow [22]. - Operating cash inflow for the period was CNY 140,289,715.94, down 33.3% from CNY 210,297,532.34 in the previous period [90]. - The ending cash and cash equivalents balance was CNY 170,798.94, down from CNY 11,356,957.45 in the previous period [91]. Legal and Regulatory Issues - The company is currently under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [24]. - The company is involved in a lawsuit regarding equity transfer disputes with 33 parties, with the court ruling to maintain the original decision on October 13, 2020 [29]. - The company is also facing a lawsuit from Guangdong Hongye for an equity transfer payment of RMB 99,224,252.31, which is currently under litigation [31]. - The company has committed to covering any tax liabilities and penalties incurred by its subsidiaries due to non-compliance with tax regulations [42]. - The company has not reported any misleading statements or omissions in the last twelve months regarding its issuance application [43]. Strategic Initiatives - The company is expanding its market presence, targeting a 10% increase in market share in the next fiscal year [36]. - Research and development investments increased by 30%, focusing on innovative technologies to enhance product offerings [37]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of 500 million CNY allocated for this purpose [38]. - Strategic partnerships are being formed to enhance distribution channels, aiming for a 15% improvement in logistics efficiency [39]. - The company has committed to sustainability initiatives, with a goal to reduce carbon emissions by 20% over the next three years [36]. Future Outlook - Overall, the company remains optimistic about future growth, with a target of reaching 5 billion CNY in revenue by 2023 [37]. - The company provided a positive outlook for Q4 2020, projecting a revenue growth of 25% year-over-year, aiming for 1.875 billion CNY [38]. - Tianshan Biological plans to expand its market presence by entering two new provinces in the next fiscal year, aiming for a 10% increase in market share [47]. - Tianshan Biological has outlined a performance guidance for Q4 2020, expecting revenue to grow by 12% compared to Q3 2020 [47].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 110,163,579.88, representing a 77.75% increase compared to CNY 61,976,438.24 in the same period last year[26]. - The net profit attributable to shareholders was a loss of CNY 7,647,886.82, an improvement of 58.91% from a loss of CNY 18,613,088.81 in the previous year[26]. - The net cash flow from operating activities was CNY 490,306.65, a significant turnaround from a negative cash flow of CNY 28,856,176.70 in the same period last year, marking a 101.70% increase[26]. - The total assets at the end of the reporting period were CNY 923,633,712.55, down 19.22% from CNY 1,143,399,156.92 at the end of the previous year[26]. - The net assets attributable to shareholders decreased by 5.31%, from CNY 149,217,296.02 to CNY 141,297,757.33[26]. - The company reported a basic earnings per share of -CNY 0.0244, an improvement of 58.93% from -CNY 0.0595 in the previous year[26]. - The company achieved total revenue of CNY 110.16 million, a year-on-year increase of 77.75% due to the recognition of income from imported cattle trade[66]. - Operating profit was reported at CNY -7.83 million, a year-on-year improvement of 55.17% in loss reduction[66]. - The total assets decreased by 19.22% to CNY 923.63 million, with current assets down by 55.03% and non-current assets down by 14.18%[66]. - The company reported a revenue of 1.2 billion CNY for the first half of 2020, representing a 15% increase year-over-year[124]. Market and Industry Context - The company faces significant risks in performance due to intense competition in the frozen semen sales market and low asset utilization efficiency[5]. - The company is actively involved in the production and sale of fresh milk and related livestock technology consulting services[33]. - The beef cattle breeding industry in China is supported by government policies, with a focus on increasing the breeding of productive cows to strengthen the beef supply base[40]. - The company anticipates a decrease in the total number of fattened cattle marketed in 2020 by approximately 10% to 20% due to the impact of the COVID-19 pandemic[42]. - In 2019, China's beef imports reached 165.93 thousand tons, a 1.6 times increase compared to 2018, indicating strong growth in demand[41]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[116]. Operational Challenges and Risks - The company is currently under investigation by the China Securities Regulatory Commission for suspected information disclosure violations, which may affect its operations[10]. - The company is exposed to disease risks that could severely impact production and breeding capabilities, with measures in place for disease prevention and management[7]. - The company is facing litigation risks related to a contract fraud case, which may impact its operations[93]. - The company has provided a guarantee for a bank loan of up to CNY 56 million for a related party, posing a potential financial risk[93]. - The company is currently unable to estimate the impact on future cash flow due to ongoing legal disputes involving former shareholders and related parties[136]. - The company faces a significant lawsuit involving an amount of approximately 237.26 million yuan related to contract fraud[142]. Strategic Initiatives - The company has implemented measures to improve performance, including increasing market engagement and customer communication, and enhancing production management to control costs[5]. - The company plans to develop beef cattle fattening industry in resource-rich regions such as Xinjiang, Gansu, and Inner Mongolia, aiming for standardized processes and digital management systems to enhance production efficiency[44]. - The company is implementing a sales package model for frozen semen products to enhance sales effectiveness and brand recognition[67]. - The company has committed to sustainability initiatives, aiming to reduce carbon emissions by 15% by 2025 through improved operational efficiencies[108]. - The company plans to enhance breeding technology and management experience to lower breeding costs and establish a core barrier in large-scale beef cattle fattening over the next five years[67]. Asset Management and Investments - The company has established a modern, large-scale ecological circular agriculture model, integrating breeding and feed production to improve product quality and reduce costs[50]. - The construction in progress increased by 42.19% compared to the beginning of the period due to investments in barn renovation infrastructure[45]. - Cash and cash equivalents decreased by 21.63% compared to the beginning of the period, primarily due to repayment of due loans and settling previous payables[45]. - The company is focused on improving its technological capabilities in animal husbandry and agricultural practices[54]. - The company is disposing of inefficient and idle assets, seeking buyers for long-term idle assets with poor synergy[138]. Corporate Governance and Compliance - The company has committed to improving its corporate governance structure and internal control systems in compliance with relevant regulations[109]. - The company has not violated any commitments made to minority shareholders[131]. - The company has ensured that all commitments made are continuously effective and have not been violated[119]. - The company has no significant litigation or media scrutiny during the reporting period, indicating a stable operational environment[146]. - The company has no violations of external guarantee procedures during the reporting period[161]. Research and Development - The company has allocated 50 million yuan for research and development in innovative livestock breeding technologies over the next two years[108]. - Investment in R&D increased by 20% year-over-year, focusing on innovative livestock breeding technologies[116]. - Research and development expenses amounted to CNY 710.82 thousand, a decrease of 17.68% compared to the previous year[71]. Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period was 12,572[181]. - The largest shareholder, Tianshan Agricultural Development Co., Ltd., holds 18.35% of the shares, totaling 57,426,801 shares, with 1,346,801 shares pledged[182]. - The second-largest shareholder, Chen Dehong, holds 11.91% of the shares, totaling 37,279,083 shares, all of which are frozen[182]. - The company has a total of 57,426,801 shares held by Tianshan Agriculture, all of which have been pledged[167]. - The company has no preferred shares or convertible bonds during the reporting period[187][190].

Operational Risks and Challenges - The company faced significant risks in its operating performance due to a competitive market for frozen semen and low asset utilization efficiency, which could impact overall performance [5]. - The company reported a risk of disease outbreaks affecting livestock, which could severely impact production and breeding capabilities, with measures in place for disease prevention and management [7]. - The company is currently involved in legal proceedings related to a contract fraud case, which introduces uncertainty and potential financial implications [9]. - The company has received a notice from the China Securities Regulatory Commission regarding an investigation into information disclosure violations, which is ongoing and may affect future operations [10]. - The company is actively cooperating with law enforcement in ongoing investigations to protect its and investors' rights [10]. - The company reported a net loss attributable to shareholders for the year 2019 due to a complex domestic and international economic environment and a sluggish industry situation [119]. - The company faces significant risks from animal diseases, which could severely impact production and profitability if outbreaks occur [119]. Financial Performance - The company's operating revenue for 2019 was CNY 229,005,660.26, representing a 117.63% increase compared to CNY 105,225,957.21 in 2018 [23]. - The net profit attributable to shareholders was a loss of CNY 60,790,981.91, a 96.87% increase in loss compared to a loss of CNY 1,945,744,003.81 in 2018 [23]. - The net cash flow from operating activities was a negative CNY 34,937,173.07, which is a 189.85% decrease compared to a negative CNY 12,053,551.91 in 2018 [23]. - The total assets at the end of 2019 were CNY 1,143,399,156.92, down 18.51% from CNY 1,403,030,911.09 at the end of 2018 [23]. - The net assets attributable to shareholders decreased by 28.61% to CNY 149,217,296.02 from CNY 209,009,059.54 in 2018 [23]. - The basic earnings per share for 2019 was -CNY 0.19, an improvement of 97.32% from -CNY 7.09 in 2018 [23]. - The weighted average return on net assets was -34.03%, an increase of 298.82% compared to -332.85% in 2018 [23]. - The company reported a significant increase in government subsidies, amounting to CNY 12,369,748.04 in 2019 compared to CNY 4,578,805.00 in 2018 [29]. - The company experienced a substantial loss in other operating income and expenses, with a net amount of CNY 32,668,885.16 in 2019, compared to a loss of CNY 102,962,464.78 in 2018 [29]. Strategic Initiatives and Future Plans - The company plans to improve performance by enhancing market engagement and customer communication, as well as strengthening production management and cost control [5]. - The company plans to continue focusing on the development of sex-sorted frozen semen technology to improve breeding efficiency and herd expansion [23]. - The company aims to establish a traceable beef supply system to enhance product quality and safety, targeting high-quality beef production [44]. - The company plans to enhance its beef cattle fattening operations in resource-rich regions by integrating capital, management, and technology to improve production efficiency [44]. - The company is focusing on expanding its market presence through the development of new agricultural technologies and products [53]. - The company aims to enhance its production capacity and efficiency through the acquisition of additional land and resources [54]. - The company plans to improve asset management by selling off loss-making and idle assets to enhance asset utilization and liquidity [116]. - The company will strengthen internal management to improve efficiency and ensure the achievement of established goals [117]. Legal and Regulatory Matters - The company is currently under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure regulations [121]. - The company is involved in ongoing litigation with Hangzhou Hanggang Metro Co., Ltd. regarding advertising resource management rights, with no court decision made as of the date of the commitment [136]. - The company has filed a lawsuit against Hubei Shengshi Delu Media Co., Ltd. for compensation related to advertising media management rights for Wuhan Metro Line, with counterclaims also filed [136]. - The company has committed to bear all economic compensation responsibilities related to ongoing legal cases if the transaction is approved and completed by the China Securities Regulatory Commission [136]. - The company is actively managing its legal risks associated with ongoing litigation to safeguard its financial position [136]. Corporate Governance and Compliance - The company has committed to providing accurate and complete information regarding the asset restructuring, ensuring no false records or misleading statements exist [133]. - The company will ensure that any necessary related party transactions are conducted at market prices and comply with relevant laws and regulations [134]. - The company has established a lock-up period for shares acquired through this issuance, preventing any transfer of these shares during the specified period [138]. - The company is committed to fulfilling all obligations related to ongoing legal disputes to protect its interests [136]. - The company has established a framework to monitor compliance with commitments made during the restructuring process [141]. - The company has committed to improving its operational standards and governance in line with the latest regulatory requirements [141]. Market and Industry Insights - The beef market in China saw record high prices in 2019 due to tightened supply and increased demand, benefiting the breeding industry [40]. - The company operates in the breeding and sales of cattle and sheep, producing and selling frozen semen and embryos, with a focus on high-quality breeds such as Holstein and Angus [33]. - In 2019, the national inventory of beef breeding bulls was 2,298, with approximately 26 million doses of frozen semen produced, generating a market value of 350 million [38]. - The average beef price in China for 2019 was 73.2 yuan/kg, reflecting a year-on-year increase of 12.26% [41]. - The company aims to develop a complete beef industry chain, focusing on breeding, fattening, slaughtering, and processing, with an emphasis on quality beef production [115].

Financial Performance - Total revenue for Q1 2020 was CNY 39,107,541.85, representing a 35.86% increase compared to CNY 28,785,050.87 in the same period last year[8]. - Net profit attributable to shareholders was a loss of CNY 4,841,384.86, an improvement of 42.62% from a loss of CNY 8,436,733.54 in the previous year[8]. - Basic and diluted earnings per share were both negative CNY 0.015, showing a 44.44% improvement from negative CNY 0.027 in the previous year[8]. - The company reported a net profit of 50 million yuan for Q1 2020, representing a 20% increase year-over-year[52]. - Tianshan Biological reported a significant increase in revenue, reaching 1.2 billion yuan in Q1 2020, representing a 15% year-over-year growth[54]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan in Q1 2020, representing a 25% year-over-year growth[60]. Cash Flow and Assets - Net cash flow from operating activities improved to a negative CNY 15,539,925.05, a 62.34% increase compared to negative CNY 42,361,429.38 in the same period last year[8]. - Cash and cash equivalents decreased by 39.79% to ¥13,329,672.26, primarily due to payments for foreign trade purchases[20]. - The total cash and cash equivalents at the end of Q1 2020 were CNY 3,690,896.54, down from CNY 151,991,495.96 at the end of Q1 2019, reflecting a decrease of about 97.6%[85]. - The company reported a significant decrease in cash and cash equivalents compared to the previous year, indicating potential liquidity challenges[88]. - The ending balance of cash and cash equivalents as of the end of Q1 2020 was 385,330.39 CNY, down from 61,068,675.45 CNY at the end of the previous year[88]. Operational Metrics - Operating costs increased by 61.53% to ¥33,827,667.08, attributed to the rise in costs associated with live livestock sales[22]. - Accounts receivable increased by 30.03% to ¥13,771,939.23, reflecting sales on credit that have not yet reached the agreed payment period[20]. - Inventory decreased by 26.79% to ¥50,021,859.93, resulting from sales of trade livestock[20]. - The company achieved a net profit of 300 million yuan in the same quarter, up 20% compared to the previous year[54]. - User data showed a growth of 15% in active users compared to the previous quarter, reaching 1.2 million active users[52]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,554[11]. - The largest shareholder, Tianshan Animal Husbandry Development Co., Ltd., held 18.35% of the shares, amounting to 57,426,801 shares[11]. - As of the report date, Tianshan Agriculture and its subsidiary have pledged a total of 105,721,080 shares, representing 18.35% of the company's total share capital[36]. Legal and Compliance Issues - The company is under investigation by the China Securities Regulatory Commission for potential information disclosure violations[32]. - The company has initiated legal proceedings regarding equity transfer disputes with 33 parties, seeking to annul the equity transfer agreements related to Elephant Advertising[40]. - The company is involved in a lawsuit with Guangdong Hongye, which is demanding a payment of 99,224,252.31 yuan for equity transfer, while the company has filed a counterclaim to annul the transfer[41]. - The company has committed to maintaining compliance with regulatory standards to avoid potential penalties, ensuring financial stability[52]. Future Outlook and Strategy - The company expects a revenue growth of 10% for the next quarter, projecting total revenue to reach 200 million yuan[52]. - New product launches are anticipated to contribute an additional 30 million yuan in revenue by the end of Q2 2020[52]. - The company is exploring potential acquisitions to enhance its product offerings, with a budget of 100 million yuan allocated for this purpose[52]. - Tianshan Biological plans to expand its market presence by entering three new provinces in 2020, aiming for a 10% market share in these regions[54]. - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified in the industry[60].

Operational Risks and Challenges - The company faced significant risks in its operating performance due to a competitive market for frozen semen and low asset utilization efficiency, which could impact overall performance[5]. - The company reported a risk of disease outbreaks affecting livestock, which could severely impact production and breeding capabilities, with measures in place for disease prevention and management[7]. - The company is currently involved in legal proceedings related to a contract fraud case, which may pose litigation risks and uncertainties regarding financial obligations[9]. - The company has received a notice from the China Securities Regulatory Commission regarding an investigation into potential information disclosure violations, which is ongoing and may affect operations[10]. - The company is under investigation by the China Securities Regulatory Commission for alleged information disclosure violations, with no conclusive findings reported yet[172]. Financial Performance - The company's operating revenue for 2019 was CNY 229,005,660.26, representing a 117.63% increase compared to CNY 105,225,957.21 in 2018[23]. - The net profit attributable to shareholders was a loss of CNY 60,790,981.91, a 96.87% decrease from a profit of CNY 7,444,331.38 in 2017[23]. - The net cash flow from operating activities was negative CNY 34,937,173.07, which is a 189.85% decline compared to negative CNY 12,053,551.91 in 2018[23]. - The total assets at the end of 2019 were CNY 1,143,399,156.92, down 18.51% from CNY 1,403,030,911.09 at the end of 2018[23]. - The net assets attributable to shareholders decreased by 28.61% to CNY 149,217,296.02 from CNY 209,009,059.54 in 2018[23]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on retaining earnings for future investments[11]. - The company aims to improve performance by enhancing market engagement and customer communication, as well as strengthening production management and cost control[5]. - The company plans to continue expanding its market presence and developing new technologies in the livestock breeding sector[18]. - The company is focused on expanding its market presence through the development of new products and technologies in the livestock sector[52]. - The company aims to implement a digital ranch management system to control core production indicators, reduce costs, and improve breeding efficiency[44]. Market Position and Industry Trends - The company operates in the breeding and sales of cattle and sheep, producing and selling frozen semen and embryos, with a focus on high-quality breeds such as Holstein and Angus[33]. - The beef market in China saw record high prices for live cattle and beef in 2019, benefiting the breeding industry amid tightening supply[40]. - The company has a strong market position as a key player in the beef breeding sector, contributing to the national genetic improvement plans[38]. - The average beef price in China for 2019 was 73.2 yuan/kg, reflecting a year-on-year increase of 12.26%[41]. - The company is recognized as a national-level frozen semen production unit and has obtained ten national patents related to its production processes[39]. Legal and Compliance Issues - The company is actively working to increase asset efficiency through leasing and disposal strategies to mitigate operational risks[6]. - The company is committed to cooperating with law enforcement in ongoing investigations to protect its and investors' interests[10]. - The company has guaranteed a balance of 64.966 million yuan for Daxiang Advertising, which has decreased to 56 million yuan as of the report date, indicating potential risk due to Daxiang's uncertain operational capability[122]. - The company is involved in ongoing litigation regarding advertising resource management rights related to the Hangzhou Metro, with no court decision made as of the commitment date[136]. - The company has filed a lawsuit against Hubei Shengshi Delu Media Co., Ltd. for compensation related to advertising media management rights for the Wuhan Metro, with a counterclaim also filed against the company[136]. Investment and Growth Strategies - The company has established a technology center to implement the "Excellent Breed Information Technology Center Construction Project" to enhance research capabilities[101]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position and expand its operational capabilities[52]. - The company plans to enhance beef cattle breeding in resource-rich regions like Xinjiang, Gansu, and Inner Mongolia, focusing on capital, management, and technology integration[44]. - The company has committed to invest a total of 35,575.07 million in various projects, with 31,277.6 million already utilized[101]. - The company is actively pursuing strategic partnerships to support long-term development amidst ongoing legal challenges[171]. Corporate Governance and Management - The company has committed to improving its corporate governance structure and internal control systems in accordance with relevant laws and regulations[141]. - The company has established measures to link executive compensation to the performance of return recovery measures[149]. - The company has committed to ensuring that all disclosures related to transactions are accurate and complete, with no misleading statements or omissions[146]. - The company has a clear commitment to providing accurate and complete information related to transactions[149]. - The company has established an independent financial department with dedicated personnel and a separate accounting system, ensuring independent financial decision-making and compliance with tax obligations[143].