Group 1: Yellow-feathered Chicken Business - The current breeding cost for yellow-feathered chickens is approximately 6.6 yuan per kilogram, with feed costs typically accounting for over 70% of total costs [1] - The company aims to maintain an annual growth rate of around 10% for its yellow-feathered chicken segment while expanding its market presence in Central, South, and Southwest China [1] - By 2025, the company plans to achieve 50% of its yellow-feathered chicken slaughtering capacity, with an expected completion of 40-50 million slaughtering capacity this year [1] Group 2: Pig Farming Business - In 2021, the company sold 412,500 commodity pigs, representing a year-on-year increase of 123% [2] - The company has established pig farming capacity of over 1 million heads and plans to reach an annual output of 3 million commodity pigs by 2025 [2] - There is significant potential for improvement in production performance in the pig farming sector [2]

Group 1: Market Trends and Pricing - The price of yellow feather chickens has been on the rise since the second quarter of 2022, with an average price reaching 7 RMB per kilogram in June [2] - The market for yellow feather chickens was previously depressed due to factors such as industry capacity expansion in 2019, the impact of COVID-19 in 2020, and low pig prices in 2021 [2][3] Group 2: Cost Structure and Management - Feed costs typically account for over 70% of the total breeding costs for yellow feather chickens, with other costs including vaccines, farming expenses, and management fees [3] - The company is focusing on technological advancements in breeding, animal health, feed formulation, and environmental control to mitigate the pressure from rising raw material costs [3] Group 3: Business Development and Future Plans - In the first half of 2022, the company sold approximately 188 million yellow feather chickens, marking a year-on-year increase of about 4% [3] - The company plans to enhance its market presence in Central, Southern, and Southwestern China while maintaining its market share in Eastern China [3] - The company aims to complete 40 to 50 million units of yellow feather chicken slaughtering capacity this year and is developing semi-finished and prepared dishes to extend its industry chain [3] Group 4: Swine Farming Sector - Since the second quarter of 2022, key production indicators in the pig farming sector have improved significantly, with a notable reduction in costs [3] - The company sold around 100,000 commercial pigs in the second quarter, with plans for continued growth in the second half of the year based on market trends [3]

证券代码：300761 证券简称：立华股份 编号：20220902 江苏立华牧业股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|-----------------------------|---------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | | 媒体采访 | 业绩说明会 | | 投资者关系活 动类别 | 新闻发布会 | 路演活动 | | | 现场参观 其他 券策略会 | ：天风证券策略会、国海证券策略会、国泰君安策略会、广发证 | | 参与单位名称 及人员姓名 | 参与人员： 32 | 家机构共 45 位机构投资者，名单详见附件清单。提示：参 会人员名单由组织机构提供并经整理后展示。公司无法保证参会人员及其 | | | | 单位名称的完整性、准确性，请投资者注意。 | | | 天风证券策略会 ...

证券代码：300761 证券简称：立华股份 编号：20220829 江苏立华牧业股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------|-----------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | 投资者关系活 | 媒体采访 | 业绩说明会 | | 动类别 | 新闻发布会 | 路演活动 | | | 现场参观 | | | | 其他 | ：国海证券电话会、长江证券电话会、广发证券电话会 | | | | 国海证券电话会、长江证券电话会、广发证券电话会三场线上电话会议， | | | 在线参会人员： 100 | 家机构共 1 ...

证券代码：300761 证券简称：立华股份 编号：20221025 江苏立华牧业股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------|-----------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | 投资者关系活 | 媒体采访 | 业绩说明会 | | 动类别 | 新闻发布会 | 路演活动 | | | 现场参观 | | | | 其他 | ：三季报业绩解读电话会 | | 参与单位名称 | 参与人员： 63 家机构共 | 74 位机构投资者，名单详见附件清单。 | | 及人员姓名 | | | | 时间 | 2022 年 10 月 25 日 | 10:00-11:00 | | 地点 | 进门财经 | | | 上市 ...

江苏立华牧业股份有限公司 2022 年第三季度报告 证券代码：300761 证券简称：立华股份 公告编号：2022-113 江苏立华牧业股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 □是 否 1 江苏立华牧业股份有限公司 2022 年第三季度报告 一、主要财务数据 （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 | --- | --- | --- | --- | --- | |------------------------------------------------------|-------------------|-------------------------|-------- ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 5,758,111,766.91, representing a 9.03% increase compared to CNY 5,281,141,507.89 in the same period last year[20]. - The net loss attributable to shareholders was CNY -155,126,952.99, an improvement of 44.64% from a loss of CNY -280,227,175.17 in the previous year[20]. - The net cash flow from operating activities was CNY -1,793,783.87, a significant decline of 100.70% compared to CNY 257,338,946.69 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 11,933,647,694.05, an increase of 8.84% from CNY 10,964,216,991.55 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 2.65% to CNY 6,092,915,418.70 from CNY 6,259,043,663.82 at the end of the previous year[20]. - The basic and diluted earnings per share were both CNY -0.3841, showing a 44.64% improvement from CNY -0.6938 in the same period last year[20]. - The weighted average return on net assets was -2.51%, an improvement of 1.78% from -4.29% in the previous year[20]. - The company is focusing on improving its financial performance and reducing losses in the upcoming quarters[20]. Market and Industry Risks - The company reported significant risks related to product price fluctuations, which could impact profitability due to market supply and demand dynamics[1]. - The company faces inventory impairment risks due to potential price drops in livestock, which could lead to substantial inventory write-downs[5]. - Animal disease risks are significant, with potential impacts on production efficiency and costs due to outbreaks of diseases such as avian influenza and swine fever[6]. - The overall market conditions and supply chain dynamics will be closely monitored to mitigate risks associated with price volatility and supply disruptions[80]. Operational Strategies - The company plans to enhance its core competitiveness through refined management and scale effects to improve production efficiency and control costs[9]. - There is a focus on accelerating the development of the pig farming sector to mitigate cyclical industry risks and expand operational regions[9]. - Increased investment in technology research and development is planned to improve feeding techniques, disease prevention, and food safety standards[9]. - The company intends to implement agricultural insurance to transfer and mitigate risks associated with farming operations[9]. - The company employs a "company + cooperative + farmer" model for chicken and pig farming, which helps mitigate operational risks and enhances production efficiency[26]. - The company has established a cooperative breeding model with farmers, providing support in terms of chicks, feed, and veterinary services, but faces management challenges as the number of farmers increases[7]. Sales and Production - The company's main business includes the breeding, processing, and sales of yellow feathered chickens, meat pigs, and meat geese, with sales revenue from these segments accounting for approximately 99% of total operating income[23]. - The yellow feathered chicken business is transitioning from live poultry sales to slaughtered fresh products, with new slaughterhouses being built to increase the proportion of fresh, frozen, and processed products[23]. - The company sold 188 million meat chickens, a year-on-year increase of 4.12%, with a sales revenue of 5.278 billion CNY, up 13.74%[39]. - The company sold 194,700 pigs, a year-on-year increase of 31.29%, with a sales revenue of 309 million CNY, down 24.08%[41]. - The average selling price of meat chickens was 13.48 CNY/kg, an increase of 3.69% compared to the same period last year[39]. - The average selling price of pigs was 14.57 CNY/kg, a decrease of 40.53% year-on-year[41]. Investment and Financial Management - The total investment amount for the reporting period was CNY 3,009,185,378.11, representing a 56.07% increase compared to CNY 1,928,160,219.44 in the same period last year[57]. - The company has established a risk fund system that shares farming risks with farmers, ensuring stability in income distribution even during market fluctuations[45]. - The company has provided guarantees totaling up to RMB 360 million to cooperative farmers for financing needs, with a guarantee balance of RMB 49.163 million as of the end of the reporting period[30]. - The company plans to raise up to RMB 1.27 billion through a private placement of shares at a price of RMB 22.71 per share, issuing no more than 55,922,501 shares[107]. Environmental and Social Responsibility - The company has maintained a pollution control strategy, with wastewater emissions totaling 5.12 tons of COD, 0.522 tons of ammonia nitrogen, and 0.227 tons of total phosphorus, all within the permitted limits[92]. - The company has implemented a green development strategy, focusing on reducing carbon emissions and promoting resource conservation and recycling[94]. - The company actively supports social responsibility initiatives, donating approximately 350,000 yuan to various charitable causes during the reporting period[95]. - The company has established a cooperative farming model that aligns with national policies for rural revitalization, enhancing the livelihoods of local farmers[95]. Governance and Compliance - The company has not experienced any significant environmental violations or accidents during the reporting period, ensuring compliance with environmental regulations[92]. - The company has not engaged in any related party transactions during the reporting period, including asset or equity acquisitions[102]. - The financial report for the first half of 2022 has not been audited, indicating a potential area for future scrutiny[99]. - The company has committed to transparency in its financial reporting and has provided detailed disclosures regarding shareholding changes and impairment losses[121].

Financial Performance - The company reported a net profit attributable to shareholders of -395.585 million yuan for the year 2021[3]. - The company's operating revenue for 2021 was ¥11,131,728,138.55, representing a 29.12% increase compared to ¥8,620,966,215.37 in 2020[21]. - The net profit attributable to shareholders for 2021 was -¥395,585,020.29, a decrease of 255.70% from ¥254,075,663.67 in 2020[21]. - The net cash flow from operating activities increased by 232.42% to ¥681,492,571.61 in 2021, up from ¥205,009,731.18 in 2020[21]. - The total assets at the end of 2021 were ¥10,964,216,991.55, an 18.53% increase from ¥9,250,517,071.83 at the end of 2020[21]. - The basic earnings per share for 2021 was -¥0.9795, compared to ¥0.6291 in 2020, reflecting a significant decline[21]. - The company's net assets attributable to shareholders at the end of 2021 were ¥6,259,043,663.82, a decrease of 6.30% from ¥6,679,601,208.95 at the end of 2020[21]. - The weighted average return on equity for 2021 was -6.14%, down from 3.80% in 2020, indicating a decline in profitability[21]. - The company reported a net profit loss of ¥230,655,008.18 due to declining pig prices, rising feed costs, and significant year-end impairment provisions[96]. Sales and Market Performance - The poultry segment achieved a sales volume of 370 million live chickens, representing a year-on-year growth of 14.57%[3]. - The average selling price of yellow feathered chickens increased by 11.70% year-on-year during the reporting period[3]. - The company achieved a market share of approximately 9.15% in the yellow feather chicken sector, with output volumes of 3.70 million chickens in 2021, up from 3.23 million in 2020[34]. - The company sold 370 million broiler chickens, marking a 14.57% increase in sales volume, with broiler chicken revenue reaching 9.582 billion yuan, up 30.71%[52]. - The company's chicken revenue accounted for 89.92% of total revenue, amounting to ¥10.01 billion, which is a 30.18% increase from the previous year[58]. Operational Challenges - The company faced significant losses in its pig farming segment due to declining domestic pig prices and high feed raw material costs[3]. - The company highlighted risks related to product price fluctuations, raw material supply, and animal diseases that could impact operational performance[4][6]. - The company faces challenges from high feed prices and overall market conditions, leading to squeezed profit margins and some farmers exiting the market[28]. - The cyclical nature of the livestock industry is evident, with pig prices experiencing significant fluctuations, leading to deep losses for most operators in 2021[32]. Business Model and Strategy - The company operates under a "company + cooperative + farmer" model for chicken farming, providing support and resources to farmers[9]. - The company has implemented a subsidy program for cooperative farmers to encourage expansion and improve farming standards[9]. - The company plans to enhance its core competitiveness through refined management and economies of scale to improve production efficiency and control costs[10]. - The company is expanding its breeding scale and increasing the number of cooperative farmers, which may impact current operating performance[10]. - The company has established a risk fund to cover losses from natural disasters or major epidemics, with ownership belonging to the cooperative[39]. Research and Development - There is a focus on increasing investment in technology research and development to improve feeding techniques, disease prevention, feed formulation, environmental management, and food safety[10]. - The company filed for 34 intellectual property rights, including 8 invention patents and 14 utility model patents during the reporting period[48]. - The company invested nearly ¥20 million to establish an advanced poultry research facility, laying a solid foundation for future technological advancements[54]. - The company is investing 200 million RMB in R&D for new technologies aimed at improving livestock health and productivity[173]. Governance and Management - The company has a complete and effective governance system that complies with relevant laws and regulations, with no significant discrepancies identified[114]. - The company reported a governance structure that includes a shareholders' meeting, board of directors, supervisory board, and senior management, ensuring effective operation and compliance with laws[107]. - The company has established an internal audit system to oversee economic operations, efficiency, and compliance with internal controls[114]. - The company has a dedicated internal audit department that reports to the audit committee of the board, ensuring transparency and accountability[114]. Environmental and Social Responsibility - Jiangsu Lihua has adopted a green development strategy, focusing on clean production and circular economy initiatives[164]. - The company has successfully implemented pollution prevention facilities, with all environmental protection measures executed properly and no significant environmental violations reported during the period[164]. - Jiangsu Lihua's subsidiary, Xingtai Lihua, was recognized as a "Sichuan Province Advanced Collective for Poverty Alleviation" in April 2021[167]. - The company has developed an emergency response plan for environmental incidents, which has been submitted for record to environmental protection authorities[164]. Future Outlook - The company expects a revenue growth of 25% for the upcoming fiscal year, projecting a total revenue of 1.875 billion RMB[171]. - The company plans to achieve an annual output of approximately 3 million market pigs by 2025, enhancing its regional influence in the pig supply market[99]. - The company aims to establish fresh poultry processing capacity to account for about 50% of total output within the next five years, focusing on downstream poultry slaughtering business development[98]. - The management team emphasized a focus on sustainability initiatives, aiming for a 30% reduction in carbon emissions by 2025[172].

江苏立华牧业股份有限公司 2022 年第一季度报告全文 证券代码：300761 证券简称：立华股份 公告编号：2022-029 江苏立华牧业股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗 漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥2,694,886,988.85, representing a year-on-year increase of 6.72%[2] - The net profit attributable to shareholders was -¥324,407,371.43, a decline of 181.05% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥341,317,042.20, a decrease of 186.82% year-on-year[2] - The basic earnings per share for the third quarter was -¥0.8032, reflecting a decrease of 181.04% year-on-year[2] - The company reported a net loss of CNY 604,634,546.60 for Q3 2021, compared to a net profit of CNY 121,815,345.62 in Q3 2020[18] - The total comprehensive income attributable to the parent company was -598,054,142.89 yuan, compared to 121,815,345.62 yuan in the previous period[19] - Basic and diluted earnings per share were both -1.4971 yuan, a significant decrease from 0.3016 yuan in the previous period[19] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥10,272,058,854.05, an increase of 11.04% from the end of the previous year[2] - The company's total current assets decreased to RMB 3.22 billion from RMB 4.09 billion at the end of 2020, a decline of about 21%[13] - Non-current assets totaled CNY 7,052,278,145.50, significantly higher than CNY 5,156,243,610.18 from the previous year, indicating a growth of 36.7%[14] - The company's total liabilities reached CNY 4,251,093,787.99, compared to CNY 2,570,915,862.88, showing an increase of 65.4%[15] - Current liabilities increased to CNY 3,102,113,797.94, compared to CNY 1,939,286,724.13, marking a rise of 60.0% year-over-year[14] - The equity attributable to shareholders of the parent company decreased to CNY 6,020,965,066.06 from CNY 6,679,601,208.95, a decline of 9.9%[15] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥466,846,847.49, showing a significant increase of 178.09%[2] - Cash inflow from sales of goods and services was 7,955,168,595.83 yuan, compared to 5,872,323,089.68 yuan in the previous period, indicating a growth of approximately 35.4%[20] - Cash outflow for purchasing goods and services was 6,924,707,274.41 yuan, an increase from 5,076,280,762.65 yuan in the previous period[22] - The net cash flow from investing activities was -1,272,201,505.85 yuan, a decline from a positive cash flow of 438,665,567.68 yuan in the previous period[22] - Cash inflow from financing activities was 1,109,455,000.00 yuan, significantly higher than 410,000,000.00 yuan in the previous period[24] - The net cash flow from financing activities was 897,594,768.14 yuan, compared to a negative cash flow of -254,119,626.67 yuan in the previous period[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,600, with the top 10 shareholders holding a combined 23.31% and 21.66% of shares respectively[7] - The largest shareholder, Cheng Lili, holds 94,150,000 shares, representing a significant portion of the company's equity[9] - The company has a total of 284,118,825 restricted shares at the beginning of the period, with no changes during the reporting period[10] - The top 10 unrestricted shareholders include Aibai Aigui Co., Ltd. with 15,797,401 shares and Jiangsu Jiuzhou Investment Group with 7,682,394 shares[8] - The company has a total of 42,350,000 shares held by Changzhou Tianming Agriculture Technology Service Center, which is a limited partnership[9] - The restricted shares held by executives are subject to a 25% annual release based on the previous year's holdings[9] Fundraising and Investment Plans - The company plans to issue convertible bonds to raise up to RMB 2.1 billion for chicken farming, slaughtering, headquarters construction, and working capital[11] - The company adjusted its fundraising plan, reducing the total amount to a maximum of RMB 2.04 billion by removing the Huizhou chicken slaughtering project[11] - The company received approval from the Shenzhen Stock Exchange for its application to issue convertible bonds, indicating progress in its fundraising efforts[11] - The company terminated its plan to issue convertible bonds due to changes in the macroeconomic environment and capital market conditions, ensuring no significant impact on its operations[11] Operational Expenses - The company's sales expenses increased by 41.68% to ¥114,835,312.30, primarily due to higher labor costs associated with business expansion[5] - Research and development expenses for the quarter were CNY 21,688,408.81, compared to CNY 18,184,133.23 in the previous year, reflecting a growth of 19.0%[18] Asset Impairment - The company experienced a significant asset impairment loss of -¥602,837,145.75, attributed to a decline in inventory prices[6] Compliance and Reporting - The company did not conduct an audit for the third quarter report[28]