Financial Performance - Total revenue for Q1 2019 was CNY 28,785,050.87, representing a 6.52% increase compared to CNY 27,023,861.24 in the same period last year[7]. - Net profit attributable to shareholders was CNY -8,436,733.54, a decrease of 59.04% from CNY -5,304,879.54 year-over-year[7]. - Total operating revenue for Q1 2019 was CNY 28,785,050.87, an increase of 6.53% from CNY 27,023,861.24 in the previous period[101]. - Net loss for Q1 2019 was CNY -8,094,380.78, compared to a net loss of CNY -5,646,845.52 in the same period last year, representing a deterioration of 43.25%[103]. - The total comprehensive loss for Q1 2019 was CNY -8,941,453.82, slightly improved from CNY -9,792,779.38 in the previous period[103]. - The company's gross profit margin decreased, with operating profit recorded at CNY -7,477,309.89, compared to CNY -5,320,402.88 in the previous period[101]. Cash Flow and Liquidity - Net cash flow from operating activities was CNY -42,361,429.38, a decline of 386.16% compared to CNY -8,713,418.28 in the previous year[7]. - Cash inflow from operating activities increased by 160.42% to ¥73,102,659.74, attributed to income from poverty alleviation initiatives[26]. - Cash outflow from operating activities rose by 213.89% to ¥115,464,089.12, mainly due to increased expenses related to cattle procurement[26]. - Cash and cash equivalents decreased by 37.16% to ¥151,993,956.75 due to payments for foreign trade and bank loan repayments[22]. - The ending balance of cash and cash equivalents decreased to 151,991,495.96 CNY from 241,873,584.47 CNY at the beginning of the period[111]. Assets and Liabilities - Total assets increased by 97.71% to CNY 1,366,063,205.67 from CNY 690,949,583.86 at the end of the previous year[7]. - Total liabilities decreased from CNY 1,197,229,068.79 to CNY 1,169,202,817.19, a decline of about 2.3%[95]. - The company's total equity decreased from CNY 205,801,842.30 to CNY 196,860,388.48, a reduction of approximately 4.3%[96]. - Current liabilities decreased from CNY 1,077,384,965.41 to CNY 1,049,348,389.22, a reduction of about 2.6%[95]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,810[11]. - The largest shareholder, Tianshan Animal Husbandry Development Co., Ltd., held 18.35% of the shares, amounting to 57,426,801 shares[11]. - Tianshan Agriculture holds 57,426,801 shares, accounting for 18.35% of the total share capital, with 100% of these shares pledged[39]. - The company has not implemented any share buyback plans as of the report date[40]. Operational Risks and Challenges - The company faces significant risks from disease outbreaks in livestock, which could severely impact production and operations[30]. - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, which may impact its operations[34]. - The company has initiated measures to safeguard its rights, including collateralizing accounts receivable from Daxiang Advertising[34]. Future Outlook and Strategic Initiatives - The company provided a positive outlook for the upcoming quarters, projecting a revenue growth of 10-15% for the next fiscal year[48]. - New product launches are expected to contribute to growth, with two major products set to be released in Q2 2019[48]. - The company is expanding its market presence, targeting new regions in Southeast Asia, aiming for a 25% increase in market share by the end of 2019[48]. - The company plans to enhance its product quality and expand sales channels to mitigate performance risks[30]. Research and Development - Ongoing research and development efforts are focused on enhancing product features, with an investment of 50 million yuan allocated for R&D in 2019[48]. - The company reported an increase in research and development expenses to CNY 438,112.00, up from CNY 387,953.75 in the previous period, reflecting ongoing investment in innovation[101]. Compliance and Governance - The company has established an independent financial department with dedicated personnel and a separate accounting system to ensure financial independence[54]. - The governance structure of the listed company is independent and complete, ensuring that the board and supervisory committee exercise their powers independently[54]. - The company has committed to maintaining compliance with regulatory standards, ensuring no legal barriers affect its operations[73].

Financial Performance - The company achieved total operating revenue of 105 million yuan, a year-on-year decrease of 46.12%[62]. - The operating profit was -1.843 billion yuan, a year-on-year decrease of 16602.72%[62]. - The total profit amounted to -1.946 billion yuan, a year-on-year decrease of 17661.91%[62]. - The net profit attributable to shareholders was -1.946 billion yuan, a year-on-year decrease of 26237.26%[62]. - Total assets reached 1.403 billion yuan, a year-on-year increase of 103.06%, with current assets increasing by 95.89% and non-current assets by 105.45%[62]. - The company reported a significant discrepancy in financial indicators compared to previously disclosed quarterly reports[27]. - The company recorded an impairment provision of 1.796 billion yuan for long-term equity investments in Daxiang Advertising due to financial misconduct[64]. - The company reported a net loss for 2018, resulting in a negative distributable profit, hence no profit distribution or capital reserve increase for the year[128]. Revenue Sources and Trends - Revenue from the livestock industry was ¥82,816,401.74, accounting for 78.70% of total revenue, down 51.72% from ¥171,534,937.13 in 2017[69]. - Revenue from live livestock decreased by 56.87% to ¥29,743,640.55, while revenue from frozen semen dropped by 67.69% to ¥14,641,204.14[72]. - Domestic revenue was ¥100,313,291.17, representing 95.33% of total revenue, down 46.78% from ¥188,479,883.79 in 2017[70]. - The company experienced a significant decline in sales of breeding stock and frozen semen, impacting overall revenue[78]. Operational Challenges and Risks - The company faced risks in its frozen semen business due to a shift from state subsidies to a competitive market environment, impacting sales performance[6]. - The company is currently under investigation by the China Securities Regulatory Commission for suspected information disclosure violations, but overall operations remain normal[10]. - The company is actively cooperating with law enforcement in an ongoing investigation related to a contract fraud case, which may pose litigation risks[9]. - The company has provided a guarantee of 100 million yuan for Daxiang Advertising, which poses a risk due to the uncertainty of Daxiang's ongoing viability[125]. - The company faces operational performance risks due to market competition in the frozen semen business and aims to improve product quality and expand sales channels[117]. Strategic Initiatives - The company plans to improve performance by expanding self-produced frozen semen sales and enhancing the quality of beef and lamb products[6]. - The company aims to enhance its operational management and cost control to maximize economic benefits and reduce performance risks[6]. - The company plans to extend its business model to include a complete industry chain from breeding to beef processing and sales[47]. - The company aims to leverage its genetic resources and technical advantages to enhance its market position in the beef industry[47]. - The company plans to focus on its core breeding business and improve operational efficiency through a partnership system and asset management[64]. Investments and Acquisitions - The company has made significant investments in infrastructure, with specific properties valued at 41,439.56 thousand for dairy barns[55]. - The company has completed payments of AUD 2.6659 million for acquiring a 37.65% stake in Zhongao Derun Livestock Co., Ltd. and AUD 13.8092 million for the Australian project[102]. - The company plans to use AUD 14.60 million of raised funds for acquisitions and debt repayment, with a portion still pending[102]. - The company has completed the acquisition of assets from the Clark family ranch in Victoria, Australia, using RMB 52.9433 million of excess raised funds for the payment[103]. Compliance and Governance - The company has committed to ensuring that all information provided regarding the transaction is true, accurate, and complete, and will bear legal responsibility for any false statements or omissions[134]. - The company has established an independent financial department with specialized personnel and a separate accounting system to ensure financial autonomy[145]. - The company guarantees that there will be no cross-employment or hierarchical relationships between its management and other entities it controls, ensuring operational independence[146]. - The company has committed to locking shares in case of any investigation findings related to false disclosures, protecting investor interests[148]. Research and Development - Research and development expenses were ¥1,288,080.87, accounting for 1.22% of total revenue, primarily for the establishment of a breeding database[81]. - The company is investing heavily in R&D, with a budget increase of 25% to 150 million yuan for new technologies[155]. - The company’s R&D personnel accounted for 17.74% of total employees in 2018, up from 12.55% in 2017[82]. Market Outlook - The company provided a positive outlook for the next quarter, projecting a revenue increase of 10% to 1.32 billion yuan[138]. - The company is expanding its market presence, targeting a 25% increase in market share within the next two years[138]. - New product launches are expected to contribute an additional 200 million yuan in revenue over the next fiscal year[137]. Legal and Regulatory Matters - The company is involved in a litigation case with Ningxia Yiyuan Animal Husbandry Co., Ltd., with a disputed amount of 5.5904 million CNY, which has completed the second-instance judgment[181]. - The company has not experienced any significant changes in the feasibility of the projects after adjustments[108]. - The company has not disposed of any subsidiaries during the reporting period[112].

新疆天山畜牧生物工程股份有限公司 2018 年第三季度报告全文 新疆天山畜牧生物工程股份有限公司 2018 年第三季度报告 2018-074 2018 年 10 月 1 新疆天山畜牧生物工程股份有限公司 2018 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人李刚、主管会计工作负责人廖士苇及会计机构负责人(会计主管 人员)廖士苇声明：保证季度报告中财务报表的真实、准确、完整。 2 新疆天山畜牧生物工程股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 √ 适用 □ 不适用 单位：元 | 项目 | 年初至报告期期末金额 说明 | | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备的冲销部分） | -2,438,696.52 主要是报告期处置生物资产损失 | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 | 3,354,519.55 主要是取得和摊销的政府补助 | ...

Financial Performance - Total revenue for the reporting period reached ¥207,982,884.10, an increase of 160.93% compared to ¥79,709,203.56 in the same period last year[18]. - Net profit attributable to shareholders was ¥13,630,970.92, representing a significant increase of 711.53% from ¥1,679,663.25 year-on-year[18]. - The net profit after deducting non-recurring gains and losses was ¥11,451,288.64, a turnaround from a loss of ¥2,771,971.55 in the previous year, marking a 513.11% increase[18]. - Basic earnings per share rose to ¥0.0578, up 580.00% from ¥0.0085 in the same period last year[18]. - Total assets at the end of the reporting period were ¥3,539,331,942.54, a 412.24% increase from ¥690,949,583.86 at the end of the previous year[18]. - Net assets attributable to shareholders increased to ¥2,169,808,216.95, up 496.82% from ¥363,562,015.92 at the end of the previous year[18]. - Operating profit reached CNY 22.48 million, up 957.48% compared to the previous year[68]. - Total profit amounted to CNY 22.63 million, reflecting a year-on-year increase of 794.17%[68]. - The company reported a cumulative net profit estimate of CNY 5,810,000 for the year, representing a significant increase of 2706.36% compared to the previous year[113]. - The basic earnings per share are projected to rise to CNY 0.2221, reflecting a growth of 2015.24% year-on-year[113]. Business Operations - The company has a focus on expanding its market presence and enhancing its product offerings in the livestock sector[11]. - The company expanded its business model by acquiring Elephant Advertising, establishing a dual business structure of livestock and outdoor advertising media operations[25]. - The company plans to diversify its resource acquisition methods, including self-development, bidding, and mergers and acquisitions, to support business growth[28]. - The company has adapted its business model to include overseas pasture management services, catering to international clients[37]. - The company is actively involved in the production of various meat products, including sausages and canned meats, with trademarks registered for these items[56]. - The company is focused on mitigating exchange rate risks associated with fluctuations in the AUD/CNY exchange rate, enhancing its foreign exchange talent and strategies[124]. Market and Industry Trends - The advertising industry is closely tied to macroeconomic fluctuations, with potential risks to Elephant Advertising's performance during economic downturns as companies may reduce their brand communication budgets[117]. - The advertising industry in China is experiencing rapid growth, with an annual growth rate exceeding GDP growth, and the company plans to expand media resource coverage and enhance operational control to mitigate performance risks[118]. - The company anticipates sustained demand for high-end purebred beef cattle in China due to domestic shortages and supportive government policies[123]. Compliance and Governance - The board of directors and management have confirmed the accuracy and completeness of the financial report, assuming legal responsibility for any misstatements[3]. - The company is committed to maintaining transparency and accountability in its financial disclosures and operations[3]. - The company has committed to ensuring the accuracy and completeness of information provided during the asset restructuring process, with ongoing compliance with legal obligations[130]. - The company has pledged to uphold the independence of its board and management personnel, ensuring no cross-employment with other controlled entities[142]. Risks and Challenges - The company has faced various risks, which are detailed in the report, along with corresponding mitigation strategies[4]. - The livestock industry faces significant risks from animal diseases, which can severely impact production and profitability, but the company has implemented preventive measures and maintains a high level of animal disease control[122]. - The company is facing operational risks in the livestock industry due to increased period expenses and a decline in overall gross profit margin, prompting measures to improve performance by expanding sales of self-produced frozen semen and exploring the imported frozen semen market[116]. Acquisitions and Investments - The company completed the acquisition of 96.21% of Elephant Advertising, increasing its total share capital from 197,352,789 to 312,977,396 shares[69]. - The acquisition of Daxiang Advertising diversified the company's business structure, reducing operational risks and enhancing profitability[68]. - The company has committed CNY 10,400 million to entrusted financial management, with an outstanding balance of CNY 3,300 million[107]. - The company has invested RMB 2,561.15 million in the Tianshan Biological Sheep Breeding Project, with 58.32% of the project completed[94]. Future Outlook - The company provided a future outlook projecting a revenue growth of 10% for the second half of 2018, driven by new product launches and market expansion[138]. - The company plans to invest 100 million CNY in R&D for innovative breeding technologies over the next two years[138]. - The company aims to increase its distribution network by 40% by the end of 2019, enhancing product accessibility[138]. - A new marketing strategy focusing on digital channels is expected to increase customer engagement by 50%[139].

新疆天山畜牧生物工程股份有限公司 2018 年第一季度报告全文 新疆天山畜牧生物工程股份有限公司 2018 年第一季度报告 2018-026 2018 年 04 月 1 新疆天山畜牧生物工程股份有限公司 2018 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人李刚、主管会计工作负责人何波及会计机构负责人(会计主管人 员)李伟声明：保证季度报告中财务报表的真实、准确、完整。 2 新疆天山畜牧生物工程股份有限公司 2018 年第一季度报告全文 单位：元 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业总收入（元） | 27,023,861.24 | 30,379,094.28 | -11.04% | | 归属于上市公司股东的净利润（元 ...

Business Strategy and Operations - The company plans to consolidate and expand its self-produced frozen semen sales while actively exploring the imported frozen semen and sheep frozen semen markets[4]. - The company aims to improve the quality of beef and lamb products to reduce costs and enhance profitability[4]. - The company has transitioned its Australian ranch business to include new proxy farming services in 2017[32]. - The main business includes breeding and selling of cattle and sheep, production and sale of frozen semen and embryos, and consulting services in livestock technology[31]. - The company has developed a comprehensive technical service system for breeding, management, and disease prevention, enhancing economic benefits for farmers[33]. - The company has integrated its breeding business with government poverty alleviation projects, receiving positive feedback from local governments and farmers[56]. - The company aims to optimize its business structure by adding outdoor advertising operations to its existing livestock business[60]. - The company plans to enhance its core competitiveness in the cattle breeding sector by introducing and absorbing high-quality genetic resources and technologies from both domestic and international sources[123]. - The company aims to establish a socialized system integrating breeding, promotion, technical services, and supply chain management for high-quality beef cattle starting in 2018[125]. Financial Performance - The company's operating revenue for 2017 was ¥195,305,726.71, a decrease of 47.95% compared to ¥375,207,065.81 in 2016[21]. - The net profit attributable to shareholders in 2017 was ¥7,444,331.38, a significant turnaround from a loss of ¥139,629,761.39 in 2016, representing a 105.33% increase[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥607,774.13, showing a 99.56% improvement from -¥139,703,690.47 in the previous year[21]. - The net cash flow from operating activities for 2017 was ¥78,721,566.09, down 35.29% from ¥121,655,162.23 in 2016[21]. - The basic earnings per share for 2017 was ¥0.04, compared to -¥0.72 in 2016, marking a 105.56% increase[21]. - The total assets at the end of 2017 were ¥690,949,583.86, a decrease of 19.22% from ¥855,368,762.66 at the end of 2016[21]. - The net assets attributable to shareholders at the end of 2017 were ¥363,562,015.92, a slight decrease of 1.11% from ¥367,653,299.24 in 2016[21]. - The weighted average return on net assets for 2017 was 2.05%, a significant improvement from -35.15% in 2016, reflecting a 37.20% increase[21]. - The company reported a gross margin of 44.44% for the livestock sector, despite a 45.57% decline in revenue year-over-year[69]. Risk Management - The company faces significant risks from animal diseases, which can severely impact production and profitability[6]. - The company has implemented measures such as isolation, disinfection, and vaccination to prevent disease outbreaks[6]. - The company is committed to enhancing production management and controlling costs to mitigate performance risks[4]. - The company acknowledges the competitive landscape for its frozen semen products due to market changes and subsidy adjustments[4]. - The company recognizes potential risks associated with the performance of future acquisition targets[4]. - The company is aware of the seasonal revenue fluctuations due to government procurement processes, which may impact quarterly performance[144]. - The company is enhancing its internal control and management systems to mitigate management and human resource risks associated with business expansion[146]. - The company is actively monitoring exchange rate fluctuations to manage risks related to its overseas projects[147]. Market and Competitive Landscape - The company has a leading advantage in genetic resources, owning the most comprehensive North American Holstein gene bank in China[38]. - The company has a technical advantage with a skilled team in bull semen production and advanced breeding technology[39]. - The company operates in Xinjiang, which is the second-largest livestock area in China, with a cattle stock accounting for 20% of the national total[40]. - The company is facing challenges due to a decrease in domestic dairy cow numbers, attributed to competition and environmental regulations[119]. - The domestic market for frozen semen usage is approximately 40% imported and 60% domestic, influenced by government procurement and existing inventory[118]. - The company plans to collaborate with quality enterprises along the beef industry chain to enhance its market position and brand recognition[124]. Investment and Acquisitions - The company acquired 96.21% equity of Elephant Co. for a total transaction value of 237,261.45 million yuan, with cash payment of 57,696.41 million yuan and share payment of 179,565.04 million yuan[59]. - The company has invested in various facilities, including a feed storage building of 624.96 m² and a land area of 14,045.15 m²[45]. - The company has completed the acquisition of assets from the Clark family farm in Victoria, Australia, using AUD 2.525 million of excess raised funds[106]. - The company plans to focus on the development of a grazing business model, shifting from live cattle importation due to market risks and low profitability[101]. - The company has a continuous commitment to fulfill all promises made during the acquisition process, ensuring compliance with relevant laws and regulations[162]. Regulatory Compliance and Governance - The company will not distribute cash dividends or issue bonus shares, nor will it increase capital using reserves[7]. - The company’s profit distribution policy has been compliant with regulations, ensuring transparency and protection of shareholder rights[155]. - The company has committed to compensating for any losses incurred due to unlicensed assets post-restructuring, ensuring financial responsibility[162]. - The company has outlined a strategy to avoid any legal liabilities arising from unlicensed water extraction activities[162]. - The company has engaged Tianjian Accounting Firm for auditing services, with a fee of 600,000 yuan for domestic services and 101,900 yuan for overseas services[168]. Social Responsibility and Community Engagement - The company donated 50 special sheep to the Queren Township in Xinjiang's Mulei County as part of its social responsibility efforts[195].

Financial Performance - Operating revenue fell by 51.82% to CNY 59,438,530.75 for the reporting period, and decreased by 58.30% to CNY 139,147,734.31 year-to-date[8] - Net profit attributable to shareholders increased by 107.42% to CNY 2,070,332.12 for the reporting period, and increased by 106.49% to CNY 3,749,995.37 year-to-date[8] - Basic earnings per share rose by 107.42% to CNY 0.0105 for the reporting period, and increased by 106.49% to CNY 0.0190 year-to-date[8] - Operating profit increased to CNY 5,917,359.08, a 107.57% improvement from a loss of CNY 78,183,925.67 in the previous year[19] - Net profit attributable to the parent company reached CNY 3,749,995.37, marking a 106.49% increase from a loss of CNY 57,818,727.51 year-on-year[19] - The company expects to achieve a net profit attributable to the parent company of between 4 million and 5.5 million yuan for the next reporting period, representing an increase of 103% to 104% compared to the same period last year[33] Assets and Liabilities - Total assets decreased by 11.31% to CNY 758,614,026.49 compared to the end of the previous year[8] - The company’s asset-liability ratio stood at 52.28%[19] - The total liabilities decreased from CNY 454,325,727.56 to CNY 396,579,419.96, a reduction of 12.7%[40] - The total owner's equity decreased from CNY 401,043,035.10 to CNY 362,034,606.53, a drop of 9.7%[41] Cash Flow - Cash flow from operating activities decreased by 63.50% to CNY 32,254,149.66 year-to-date[8] - Cash flow from operating activities decreased by 63.13% to CNY 221,291,983.21 compared to CNY 600,180,442.98 in the previous year[20] - The company's cash and cash equivalents dropped significantly from CNY 149,907,879.31 to CNY 68,520,529.74, a decrease of 54.3%[42] - The ending balance of cash and cash equivalents decreased to 14,934,129.74 CNY from 127,528,074.37 CNY in the previous period, reflecting a substantial decline[65] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,665[12] - The largest shareholder, Tianshan Animal Husbandry Development Co., Ltd., held 29.10% of shares, amounting to 57,426,801 shares[12] - The company did not engage in any repurchase transactions during the reporting period[13] Cost Management - The company reported a 73.33% reduction in operating costs, amounting to CNY 89,397,214.86, down from CNY 335,155,202.16[20] - The company's total operating costs decreased to CNY 136,096,322.33 from CNY 411,819,530.21 year-on-year, reflecting a reduction of approximately 66.9%[53] - The company’s management expenses decreased by 32.82% to CNY 29,366,711.18 from CNY 43,712,603.20[20] - The company reported a significant decrease in management expenses, which fell to CNY 4,173,428.13 from CNY 7,514,725.32 year-on-year, a reduction of approximately 44.5%[50] Investment Activities - The company’s investment income increased by 527.31% to CNY 389,029.72 from a loss of CNY 91,042.36 in the previous year[20] - The company incurred financial expenses of ¥4,593,618.85, down from ¥5,308,585.88 in the previous period[57] - The company’s investment activities resulted in a net cash outflow of ¥93,094,211.64, compared to a smaller outflow of ¥7,077,931.79 in the previous period[61] Future Outlook and Strategies - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20% based on current market trends and user acquisition strategies[30] - New product development is underway, with two innovative products expected to launch in Q4 2017, aimed at enhancing market competitiveness[30] - The company is expanding its market presence, targeting an increase in distribution channels by 25% over the next year[30] - A strategic acquisition is planned, which is anticipated to enhance the company's product offerings and market share by 15%[30] - The company has committed to investing 100 million CNY in research and development for new technologies over the next two years[30] Compliance and Governance - The company has committed to ensuring that there will be no overdue or underpayment of social security and housing fund contributions[32] - There were no violations regarding external guarantees during the reporting period[34] - The company reported no non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[35] User and Market Data - User data indicated a rise in active users, with a total of 500,000 new users added in the last quarter, marking a 10% increase compared to the previous quarter[30]

Financial Performance - The company achieved a turnaround in performance for the first half of 2017, reporting a net profit of 1,679,663.25 yuan, marking a significant improvement compared to previous years[4]. - Total revenue for the first half of 2017 was ¥79,709,203.56, a decrease of 62.11% compared to ¥210,347,880.87 in the same period of 2016[22]. - Net profit attributable to shareholders was ¥1,679,663.25, representing a 105.24% increase from a loss of ¥29,927,719.31 in the previous year[22]. - The net cash flow from operating activities decreased by 71.52% to ¥21,435,384.36 from ¥75,269,781.75 in the same period last year[22]. - Basic and diluted earnings per share improved to ¥0.0085 from a loss of ¥0.1516, marking a 105.24% increase[22]. - The company reported a loss of 4.5 million yuan from its overseas subsidiary, which shifted its business model from livestock export to ranching[32]. - The company reported a net loss of CNY 122,320,903.92 in retained earnings, slightly improved from a loss of CNY 124,000,567.17[178]. - The company achieved a net profit of 1,679,663.25 CNY in the first half of 2017, marking a turnaround from previous losses[113]. Operational Strategy - The company plans to enhance its business by expanding the sales of self-produced frozen semen and actively exploring the imported frozen semen and sheep frozen semen markets[7]. - The company is working on establishing a complete beef industry chain, including breeding, fattening, slaughtering, and sales, to improve profitability and operational efficiency[7]. - The company is actively promoting the use of sex-sorted frozen semen to improve cattle breeding efficiency and herd expansion[16]. - The implementation of national livestock quality subsidy projects aims to enhance the quality of cattle breeds and increase production efficiency[16]. - The company aims to establish a complete industry chain from breeding to sales, enhancing its production scale and sustainable profitability[35]. - The company is implementing a full industry chain strategy in beef cattle, which includes breeding, fattening, slaughtering, and sales, to improve profitability and operational efficiency[102]. Risk Management - The company faces the risk of stock suspension due to consecutive losses in 2015 and 2016, with potential implications if the 2017 annual audit also shows a loss[4]. - The company is exposed to significant risks from animal diseases, which could severely impact production and operational capabilities[8]. - The company has implemented various measures to mitigate operational risks, including strengthening production management and controlling costs and expenses[7]. - The company is focused on risk management related to exchange rates, aiming to mitigate adverse impacts on overseas projects[108]. - The company is exposed to disease risks in livestock, which can significantly impact production and quality, but has established preventive measures and management practices to mitigate these risks[103]. Financial Position - Total assets at the end of the reporting period were ¥755,720,113.08, down 11.65% from ¥855,368,762.66 at the end of the previous year[22]. - Net assets attributable to shareholders decreased by 2.14% to ¥359,800,564.34 from ¥367,653,299.24 at the end of the previous year[22]. - Cash and cash equivalents decreased by 42.84% compared to the beginning of the period, primarily due to the acquisition of subsidiary equity[30]. - The company reported a significant decrease in sales expenses to ¥4,993,272.09 from ¥10,978,906.80, a decline of approximately 54.5% year-over-year[185]. - The ending balance of cash and cash equivalents decreased to 28,193,267.02 CNY from 133,602,828.50 CNY, highlighting liquidity challenges[195]. Investment and Acquisitions - The company has completed the acquisition of minority shareholder rights in its overseas subsidiary to gain full control over Mingjiah Agriculture[49]. - The company approved the acquisition of Australian assets for AUD 25.25 million, funded by excess and remaining raised funds of AUD 10.25 million, equivalent to approximately RMB 52.94 million[81]. - The company has acquired a 37.65% stake in Zhongao Derun Animal Husbandry Co., optimizing its management structure[98]. - The company plans to use AUD 14.6 million of raised funds to acquire a 37.65% stake in Zhongao Derun and to increase capital for its wholly-owned subsidiary Tianshan Holdings[150]. Market and Sales - The sales revenue from breeding livestock decreased by 94.46% due to the adjustment of the Australian company's business model to focus on proxy grazing[49]. - The sales volume of self-produced frozen semen increased by 46.8% year-on-year, with sales prices rising by 34.68%, leading to a revenue increase of 97.71%[56]. - Milk sales volume grew by 43.62% year-on-year, with sales revenue increasing by 45.67% and unit sales costs decreasing by 33.21%[51]. - The company aims to expand its market share in frozen semen and increase livestock sales through promotional activities during key holidays[99]. Compliance and Governance - The semi-annual report for 2017 has not been audited[123]. - The company has not reported any violations of commitments made to minority shareholders[122]. - The company has a commitment to not engage in any activities that harm its interests or those of its shareholders[121]. - The company has not disclosed any significant litigation matters during the reporting period[72]. - The company has no bankruptcy reorganization matters during the reporting period[124]. Assets and Land Use - The company holds land use rights for a total of 16,568 acres of grassland, valid until November 9, 2025[38]. - The company has a total of 425.7 acres of facility agricultural land with a lease valid until November 10, 2041[38]. - The company has a total of 8,495.85 acres of agricultural development land, valid until February 28, 2046[38]. - The company has a total of 150 acres of facility agricultural land with a lease valid until November 10, 2041[38]. - The company has a total of 250 acres of facility agricultural land with a lease valid until November 10, 2041[38].

Financial Performance - Total revenue for Q1 2017 was ¥30,379,094.28, a decrease of 77.22% compared to ¥133,346,556.41 in the same period last year[8] - Net profit attributable to shareholders was -¥4,881,374.41, improving by 70.14% from -¥16,346,221.88 year-on-year[8] - Basic and diluted earnings per share were both -¥0.0247, showing an improvement of 72.49% from -¥0.0899 in the same period last year[8] - The company's operating revenue for the reporting period was CNY 30,379,094.28, a decrease of 77.22% compared to CNY 133,346,556.41 in the same period last year[21] - The company reported a significant increase in investment income, which reached CNY 8,734.74, compared to a loss of CNY 660,508.16 in the previous year, marking a 101.32% improvement[21] - The company’s other comprehensive income improved by 128.54%, reaching CNY 838,097.18, attributed to foreign currency translation differences[21] - The company’s tax and additional fees decreased by 39.67% to CNY 103,983.55, mainly due to reduced sales during the reporting period[21] - The company’s management expenses decreased by 32.77% to CNY 9,579,265.40, reflecting cost-cutting measures and organizational adjustments[21] - The company’s employee compensation payable decreased by 43.83% to CNY 3,081,256.89, due to the payment of last year's unpaid salaries[21] - The company reported a potential turnaround in net profit for the first half of 2017, driven by improved marketing channels for beef and mutton products and the launch of the second-generation Angus cattle[57] Operational Risks - The company faced risks related to the adjustment of the good breed subsidy policy, which could impact production and operations if the policy is canceled or altered[10] - The company is exposed to disease risks in livestock, which could significantly affect production and operational performance[12] - The company is facing operational risks due to the potential cancellation or adjustment of the national subsidy policy for livestock breeding, which could impact production and operations[30] - The company is exposed to significant risks from animal diseases, which can severely affect production and reproduction capabilities, as well as the quality and quantity of frozen semen and milk[31] - The company faces risks related to changes in subsidy policies for high-quality breeding stock, which may impact future operations[28] Business Strategy and Expansion - The company is actively expanding its beef cattle breeding and sales operations to establish a complete industry chain, aiming to enhance profitability[11] - The company is expanding its business by promoting the sale of beef cattle breeding stock and aims to establish a complete industry chain from breeding to sales, but faces challenges with rising costs and declining overall gross margins[30] - The company plans to enhance quality assurance capabilities and sales capabilities as part of its meat cattle strategy, focusing on cost control and efficiency improvement[27] - The company has developed a product line with over 200 products, including Angus beef, and plans to adopt advanced processing standards to meet diverse consumer needs[39] - The company’s "Big Beef Cattle Strategy" aims to ensure product quality and traceability through a controlled supply chain from breeding to sales[40] Financial Management - The company has initiated fundraising projects but faces uncertainties that could affect the timely completion and expected returns of these projects[33] - The company has adjusted its idle fundraising cash management limit to 125 million yuan, generating a return of 250,000 yuan during the reporting period[43] - The total amount of principal-protected financial products issued by the company reached 37,400,000, with 32,400,000 currently outstanding[45] - The company reported a return of 1.28% on a principal-protected financial product issued on March 17, 2017[45] - The company has a commitment to provide accurate and complete information regarding its transactions, ensuring no misleading statements or significant omissions[46] Asset Management - Total assets at the end of the reporting period were ¥860,760,033.08, a slight increase of 0.63% from ¥855,368,762.66 at the end of the previous year[8] - The total current assets reached ¥312,554,716.24, slightly up from ¥312,159,350.46 at the start of the period[63] - The company's total assets increased to CNY 860,760,033.08 from CNY 855,368,762.66, reflecting a growth of approximately 0.46%[66] - The production biological assets increased to CNY 15,815,903.55 from CNY 11,568,479.74, representing a growth of about 36.56%[64] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,898[13] - As of the report date, the controlling shareholder has pledged a total of 69,211,312 shares, representing 29.10% of the company's total equity[42] Cash Flow and Liquidity - Cash and cash equivalents decreased to CNY 126,580,130.09 from CNY 149,907,879.31, a drop of approximately 15.53%[67] - The company utilized ¥50 million of idle raised funds for cash management as of March 31, 2017, with the remaining funds held in a dedicated account[63] - The company experienced a decrease in cash and cash equivalents due to negative cash flow from investment and financing activities[83] Project Management - The company has temporarily halted the "bull semen production and development project" due to a decline in market demand, with an original investment plan of 78.39 million CNY adjusted to 41.52 million CNY[52] - The company has received a refund of 38.25 million CNY related to a terminated property purchase agreement, which will be redirected to the information center project using self-owned funds[52] - The company has committed to a total of 22,380.67 million CNY in various projects, with 13,414.85 million CNY already invested[52] Compliance and Governance - The company has not engaged in any non-compliant external guarantees during the reporting period[58] - There were no non-operational fund occupations by controlling shareholders or related parties during the reporting period[59] - The company has made commitments to compensate for any losses incurred due to unlicensed assets involved in its restructuring[46]

Financial Performance - The company's operating revenue for 2016 was CNY 375,207,065.81, representing a 51.99% increase compared to CNY 246,867,894.03 in 2015[24]. - The net profit attributable to shareholders was a loss of CNY 139,629,761.39, a decline of 291.56% from a loss of CNY 35,659,960.10 in the previous year[24]. - The net cash flow from operating activities improved to CNY 121,655,162.23, a significant increase of 160.81% compared to a negative cash flow of CNY 200,045,848.82 in 2015[24]. - The total assets at the end of 2016 were CNY 855,368,762.66, down 6.20% from CNY 911,912,787.20 at the end of 2015[24]. - The net assets attributable to shareholders increased by 4.65% to CNY 367,653,299.24 from CNY 351,310,167.76 in 2015[24]. - The basic earnings per share for 2016 was -CNY 0.72, a decrease of 260.00% from -CNY 0.20 in 2015[24]. - The weighted average return on net assets was -35.15%, a decline of 25.61% from -9.54% in the previous year[24]. - The company reported a significant increase in the sales of imported cattle, which rose by 365.88% to 32,733 heads[62]. - The revenue from the livestock export business accounted for 61.19% of total revenue, significantly impacting overall profitability[48]. - The company reported a total asset value of 85,536.88 million yuan, a year-on-year decrease of 6.20%[49]. Operational Challenges - The company faced risks related to the adjustment of the good breed subsidy policy, which may impact production and operations if the policy is canceled or further modified[7]. - The company experienced a decline in comprehensive gross profit margin due to increased operational costs and varied gross profit levels across product categories[8]. - The company reported a loss from the disposal of non-current assets amounting to ¥5,362,666.66, which increased from ¥2,203,864.78 in 2015, primarily due to increased biological asset losses[30]. - The company has been actively promoting the use of frozen semen products to improve cattle breeding efficiency and genetic quality[24]. - The company faces significant risks from animal diseases, which can severely impact production and reproduction capabilities, potentially leading to substantial losses[138]. - The sales of frozen semen products are subject to seasonal fluctuations due to government procurement processes, leading to uneven revenue distribution throughout the year[140]. Strategic Initiatives - The company plans to enhance its performance by expanding self-produced frozen semen sales and actively exploring the imported frozen semen and sheep frozen semen markets[8]. - The company plans to establish three breeding and farming bases in Northwest China, Inner Mongolia, and the Huang-Huai Plain to enhance its ecological and sustainable agricultural model[37]. - The company aims to improve its breeding stock by conducting genomic testing and collaborating with other provinces for data collection to meet new selection criteria[127]. - The company plans to enhance breeding technology R&D and strengthen collaboration with international breeding firms to improve genetic resources and market share in the domestic breeding industry[128]. - The company is implementing a "large beef cattle strategy" to establish a complete industry chain from breeding to sales, aiming to enhance production efficiency and modernize operations[144]. Market Trends - National policies are increasingly supportive of the livestock industry, providing a favorable environment for the company's growth[117]. - China's per capita beef consumption increased from 4.87 kg in 2010 to an estimated 5.49 kg in 2020, reflecting an annual growth rate of 1.13%[119]. - Total beef consumption in China is projected to rise from 721 million tons in 2015 to 796 million tons in 2020, an increase of 75 million tons[120]. - The average domestic beef price rose from 39 RMB/kg in 2009 to 64 RMB/kg in 2014, with a compound annual growth rate of 13.9%[121]. - There is a current supply-demand gap of 500 billion RMB in the beef market, contributing to sustained high beef prices[122]. Investment and Funding - The company has committed to invest RMB 78.39 million in the bull semen production and R&D project, with a cumulative investment of RMB 42.52 million, achieving 54.43% of the planned investment[105]. - The total amount raised from the initial public offering of A-shares was RMB 295.49 million, with a net amount of RMB 260.99 million after deducting various issuance costs, and the excess raised funds amounted to RMB 162.8162 million, of which 6.44% has been used and 95.67% has been cumulatively utilized[107]. - The company has reported a total of 31,460.32 million CNY in raised funds, with 29,835.33 million CNY utilized[106]. - The company has ongoing commitments related to asset restructuring and operational compliance, which may affect future financial performance[159]. Compliance and Governance - The company has confirmed that there were no non-standard audit reports issued for the reporting period[165]. - The company has ensured compliance with social security and housing fund contributions, with no overdue or underpaid contributions reported[162]. - The integrity status of the company and its controlling shareholders is good, with no significant debts overdue or unfulfilled court judgments[171]. - The company has committed to transparency and compliance with regulatory requirements regarding fundraising and project investments[102].