Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 500 million, representing a 20% increase compared to the same period in 2020[15]. - The company's revenue for the reporting period reached ¥390,341,209.16, representing a 65.48% increase compared to ¥235,881,646.32 in the same period last year[21]. - Net profit attributable to shareholders was ¥36,327,471.37, a significant increase of 222.37% from ¥11,268,775.50 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥28,559,232.11, up 228.33% from ¥8,698,298.74 in the previous year[21]. - The basic earnings per share increased by 141.75% to ¥0.2930 from ¥0.1212 in the same period last year[21]. - The company reported a total comprehensive income of ¥39,499,480.01 for the first half of 2021, compared to ¥10,882,357.98 in the same period of 2020, an increase of 263.5%[171]. - The net profit for the first half of 2021 reached CNY 20,852,842.90, a significant increase from CNY 10,705,642.10 in the same period of 2020, representing a growth of 94.5%[174]. - Operating profit for the first half of 2021 was ¥49,000,167.94, up from ¥13,194,880.79 in the first half of 2020, representing a growth of 270.5%[170]. Market Expansion and Strategy - The company plans to expand its market presence by entering two new provinces in the second half of 2021, aiming for a 10% increase in market share[15]. - New product launches are scheduled for Q3 2021, including a line of organic dairy products, expected to contribute an additional RMB 50 million in revenue[15]. - The company plans to enhance its market share in the concentrated dairy product sector through flexible and differentiated strategies[30]. - The cheese segment is expected to become a new growth point, with ongoing investments in new products and packaging[30]. - The company is actively exploring potential acquisition opportunities to diversify its product offerings and strengthen its market position[15]. - The company plans to enhance its core business in condensed milk, cheese, and cream while diversifying into plant-based and health food products[97]. Research and Development - The company has allocated RMB 30 million for research and development of new technologies to enhance product quality and safety standards[15]. - The company has invested in R&D, resulting in 53 patents and the introduction of new products such as mozzarella cheese and low-sugar sweetened condensed milk[57]. - Research and development investment increased by 19.88% to ¥7,752,735.08, reflecting the company's commitment to innovation[63]. - The company is enhancing its research and development efforts to meet changing market demands and explore new business growth opportunities[95]. Financial Management and Investments - The company will not distribute cash dividends for this fiscal year, focusing on reinvestment for growth initiatives[5]. - The company reported a net cash flow from operating activities of -¥17,511,337.19, an improvement of 80.86% compared to -¥91,484,340.41 in the previous year[21]. - The company has reported a total of 340.28 million yuan in related party transactions, with no individual transaction exceeding the approved limits[129]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[127]. - The company has not reported any overdue amounts or expected losses from entrusted wealth management[88]. Risk Factors - Risks identified include intensified market competition and fluctuations in raw material prices, which could impact future profitability[4]. - The company faces risks including intensified market competition and fluctuations in raw material prices[32]. - The company has developed a crisis response plan to mitigate the impact of public health emergencies on its operations, particularly in the food service sector[95]. Compliance and Social Responsibility - The company emphasizes legal operation and tax compliance as its primary responsibility, ensuring no tax evasion or related issues[117]. - The company actively engages in social responsibility initiatives, contributing to public welfare and environmental protection[109]. - The company completed low-carbon combustion modifications for boiler equipment, meeting national environmental protection requirements[107]. - The company adheres to strict compliance with environmental protection laws and has not faced any penalties during the reporting period[108]. Shareholder Information - The major shareholder, Ding'an Aohua Food Technology Co., Ltd., holds 30.48% of the shares, totaling 37,800,000 shares[149]. - The second-largest shareholder, Guo Hong, owns 7.71% of the shares, amounting to 9,559,000 shares[149]. - The total number of shareholders at the end of the reporting period was not disclosed[148]. - The report indicates that the top ten shareholders do not have any voting rights discrepancies and did not engage in any repurchase transactions during the reporting period[150].

Financial Performance - The company's revenue for Q1 2021 was ¥196,847,929.24, representing a 114.59% increase compared to ¥91,734,075.37 in the same period last year[8] - Net profit attributable to shareholders reached ¥14,559,365.79, a significant increase of 3,345.08% from ¥422,612.77 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥13,464,531.51, up 28,724.41% from ¥46,712.25 in the previous year[8] - The basic earnings per share (EPS) was ¥0.1174, reflecting a 2,508.89% increase from ¥0.0045 in the same period last year[8] - The weighted average return on equity (ROE) improved to 1.88%, compared to 0.08% in the previous year[8] - The company achieved operating revenue of ¥196,847,929.24, a year-on-year increase of 114.59%[19] - Net profit attributable to shareholders reached ¥14,559,365.79, reflecting a year-on-year growth of 3,345.08%[19] - The operating profit for the first quarter was CNY 21,519,712.69, a substantial rise from CNY 1,497,480.08 year-over-year, reflecting an increase of about 1,336.5%[48] - The total profit for the first quarter was CNY 21,269,941.76, compared to CNY 957,324.02 in the previous year, representing an increase of approximately 2,224.5%[48] Assets and Liabilities - The total assets at the end of the reporting period were ¥934,158,365.76, a decrease of 5.05% from ¥983,851,597.41 at the end of the previous year[8] - The total liabilities decreased to CNY 136,591,927.78 from CNY 203,654,874.71, a reduction of about 32.9%[40] - The company's cash and cash equivalents were CNY 85,413,916.42, down from CNY 97,265,140.74, a decline of approximately 12.5%[42] - Current assets decreased to CNY 511,241,064.57 from CNY 591,234,119.98, reflecting a decline of about 13.5%[42] - The total non-current assets increased to CNY 280,166,198.08 from CNY 275,103,776.32, reflecting a growth of about 1.4%[41] - The total equity attributable to shareholders rose to CNY 783,754,321.85 from CNY 769,194,956.06, an increase of about 1.9%[41] Cash Flow - The company reported a net cash flow from operating activities of -¥16,905,582.28, an improvement of 85.63% compared to -¥117,629,982.81 in the same period last year[8] - The cash inflow from operating activities was CNY 249,669,693.95, up from CNY 151,876,336.87 in the same quarter last year, marking an increase of about 64.4%[54] - The total cash outflow from operating activities was 125,799,441.07 CNY, compared to 153,616,764.88 CNY in Q1 2020, indicating improved cash management[57] - The total cash inflow from investment activities was 208,727,111.97 CNY, significantly higher than 69,401,313.41 CNY in Q1 2020, resulting in a net cash flow from investment activities of 73,111,118.01 CNY[55] - The net cash flow from financing activities was -63,131,607.09 CNY, a decline from 100,844,080.96 CNY in Q1 2020[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,108[11] - The company reported a total of 94,852,562 restricted shares at the beginning of the period, with 220,000 shares released during the period, resulting in 94,632,562 restricted shares at the end of the period[14] - The company has a total of 37,800,000 shares held by Ding An Ao Hua Food Technology Co., Ltd., which are subject to restrictions until October 16, 2023[14] - The company has 9,559,000 shares held by Guo Hong, which are also subject to restrictions until October 16, 2021[14] - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[13] Research and Development - The company increased its research and development investment, focusing on new product development to meet diverse consumer needs[20] - The company has completed the preliminary preparation for the production of personalized instant cheese sticks, which received positive feedback during the product launch[20] - The company's research and development expenses amounted to CNY 3,464,144.99, compared to CNY 3,205,664.23 in the previous year, showing an increase of approximately 8.0%[48] - The company plans to continue investing in new products and packaging in the cheese sector to enhance its market position[25] Market and Competition - The company faces risks from intensified market competition and fluctuations in raw material prices, which could impact profitability[23] - The company focuses on core dairy products such as condensed milk, cheese, and cream, while diversifying into plant-based foods and nutritional supplements[25] - The cheese segment is becoming a new growth point for the company, with the introduction of cheese sticks and mozzarella cheese series products[25] - The top five suppliers accounted for 87.92% of total annual purchases, indicating stable supplier relationships[21]

Financial Performance - The company reported a total revenue of 124 million RMB for the year 2020, marking a year-on-year increase of 10% compared to 2019[6]. - The company's operating revenue for 2020 was ¥684,345,561.91, representing a 13.35% increase compared to ¥603,753,103.88 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥81,512,903.50, a 22.37% increase from ¥66,611,049.43 in 2019[19]. - The net profit after deducting non-recurring gains and losses decreased by 4.67% to ¥58,529,857.31 in 2020 from ¥61,396,981.10 in 2019[19]. - The total assets at the end of 2020 were ¥983,851,597.41, a significant increase of 66.16% from ¥592,099,462.76 at the end of 2019[19]. - The weighted average return on equity for 2020 was 15.02%, up from 14.22% in 2019[19]. - The net cash flow from operating activities decreased by 18.14% to ¥68,902,310.13 in 2020 from ¥84,173,451.54 in 2019[19]. - The gross profit margin for the overall sales was 34.65%, reflecting a decrease of 1.39% compared to the previous year[67]. - The revenue from concentrated dairy products was ¥439,213,566.55, accounting for 64.18% of total revenue, with a 1.44% increase from the previous year[82]. - The company achieved a total sales revenue of CNY 439,213,566.55, with a year-on-year growth of 1.44%[67]. Dividend Policy - The profit distribution plan approved by the board is to distribute a cash dividend of 1.5 RMB per 10 shares, totaling 18.6 million RMB[6]. - The proposed cash dividend is RMB 1.50 per 10 shares, totaling RMB 18,600,000, which represents 22.82% of the net profit[139]. - The cash dividend payout ratio for 2020 was 100% of the total profit distribution[137]. - The company has a profit distribution policy that mandates a minimum of 10% of distributable profits to be distributed as cash dividends annually[134]. - In mature stages without significant capital expenditure, the company aims for cash dividends to constitute at least 80% of the profit distribution[135]. - The cumulative undistributed profit in the consolidated financial statements was RMB 183,692,616.46 as of the end of 2020[137]. Market Expansion and Product Development - The company is focused on expanding its product line and enhancing its market presence through new product development and technology[6]. - The company has launched new products such as mozzarella cheese and children's cheese sticks, focusing on R&D to meet market trends[29]. - The company plans to focus on core products such as condensed milk, cheese, and whipped cream, while diversifying into plant-based and health food products[36]. - The company is actively exploring market expansion opportunities and potential mergers and acquisitions[6]. - The company has established a sales channel covering over 30 provinces, with a focus on expanding in East and South China[30]. - The company has invested CNY 14.58 million in R&D during the reporting period, focusing on product innovation and efficiency improvements[59]. - The company is actively developing new products and packaging in the cheese sector, which is becoming a new growth point for its concentrated dairy business[36]. Risk Management - The company faces several risks including intensified market competition, fluctuations in raw material prices, and potential food safety issues[6]. - The company has a concentrated operational region, which poses a risk to its business continuity[6]. - The company has established crisis response plans to mitigate the impact of public health emergencies on its operations[34]. - The company has implemented quality control measures based on FSSC22000, ISO9001, ISO14001, and HACCP standards to ensure product safety and quality[33]. - The company emphasizes the importance of maintaining food safety and quality standards to mitigate potential disputes[6]. Corporate Governance and Compliance - The company guarantees that the initial public offering and listing on the Growth Enterprise Market will not involve any fraudulent activities[144]. - The company has pledged to avoid any unfair transfer of benefits to other entities and to restrict personal consumption behaviors related to their duties[144]. - The company will strictly adhere to agreements regarding related party transactions and will not seek benefits beyond those stipulated in the agreements[144]. - The company will take legal responsibility for any violations of commitments that result in losses to itself or its shareholders[144]. - The company will continue to revise and improve investor rights protection measures in accordance with regulatory requirements[144]. Social Responsibility - The company made a total charitable donation of CNY 1,000,000, contributing to local public welfare initiatives[60]. - The company is committed to poverty alleviation efforts, focusing on helping impoverished villages and households achieve economic independence[171]. - The company emphasizes the importance of corporate social responsibility by actively participating in charitable activities and providing employment opportunities in partnership with local communities[171]. - The company has established a charity fund to support education and poverty alleviation efforts in collaboration with local charitable organizations[175]. Shareholder Information - The company has a total of 94,852,562 shares, including 4,543,562 restricted shares[185]. - The company issued 31 million new shares, increasing total shares from 93 million to 124 million, following approval from regulatory authorities[182]. - The largest shareholder, Ding'an Aohua Food Technology Co., Ltd., holds 30.48% of the shares, totaling 37.8 million shares[190]. - The number of shareholders increased from 21,108 to 23,383 during the reporting period[190]. - The company reported a commitment to not reduce shareholdings during the lock-up period and will notify the company five trading days prior to any reduction after the lock-up period ends[143].

Financial Performance - Operating revenue for the reporting period was ¥200,683,309.61, reflecting a year-on-year increase of 3.26%[8] - Net profit attributable to shareholders was ¥26,883,488.85, a decrease of 8.23% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥24,479,438.20, an increase of 7.34% year-on-year[8] - Basic earnings per share for the reporting period was ¥0.290, a decrease of 6.45% compared to the same period last year[8] - The weighted average return on net assets was 6.19%, down 5.35% year-on-year[8] - Total operating revenue for Q3 2020 was CNY 200,683,309.61, an increase of 3.4% compared to CNY 194,355,749.75 in the same period last year[37] - Total operating revenue for the third quarter was CNY 115,239,328.84, a decrease of 3.9% from CNY 120,558,017.28 in the previous year[42] - Operating profit for the quarter was CNY 32,562,897.85, slightly up from CNY 32,295,466.47 year-over-year[39] - Net profit for the third quarter was CNY 27,663,730.80, down 4.4% from CNY 28,947,389.00 in the same period last year[39] - The company reported a total profit of CNY 32,405,198.39, an increase from CNY 31,549,058.89 year-over-year[39] - The total comprehensive income for the period was CNY 38,546,088.78, compared to CNY 40,763,891.73 in the previous year, indicating a decrease of 5.4%[49] Cash Flow - The net cash flow from operating activities was ¥72,054,788.73, down 13.70% from the previous year[8] - Operating cash flow net amount decreased by 131.41% to -¥19,429,551.68 from ¥61,865,146.78, mainly due to increased strategic reserves of bulk raw materials[18] - Investment cash flow net amount worsened by 42.64% to -¥11,035,117.39 from -¥7,736,091.62, reflecting investments in the Cangnan new factory project[18] - Financing cash flow net amount improved by 121.67% to ¥8,046,679.63 from -¥37,129,985.73, due to increased bank loans and higher dividends during the reporting period[18] - The cash inflow from operating activities was CNY 492,493,793.98, an increase from CNY 475,365,218.26 in the same period last year[54] - The net cash flow from operating activities was -29,691,637.65 CNY, a decrease from 48,784,705.45 CNY in the previous period[60] - The net cash flow from financing activities was 220,069,105.25 CNY, a significant increase from -37,027,638.98 CNY in the previous period[61] Assets and Liabilities - Total assets at the end of the reporting period reached ¥647,161,354.14, an increase of 9.30% compared to the end of the previous year[8] - Cash and cash equivalents decreased by 37.24% to ¥33,617,631.49 from ¥53,563,175.93 due to increased procurement costs related to strategic raw material reserves[16] - Accounts receivable decreased by 43.37% to ¥20,423,399.72 from ¥36,063,760.29, primarily due to a year-on-year decline in sales to food industry customers[16] - Inventory increased by 125.56% to ¥146,100,660.17 from ¥64,772,764.79, driven by an increase in strategic reserves of raw milk powder[16] - Short-term borrowings surged by 644.03% to ¥118,300,000.00 from ¥15,900,000.00, attributed to increased bank loans[16] - Current liabilities increased significantly to CNY 188,922,390.33 from CNY 80,939,656.40 year-over-year[31] - Non-current liabilities totaled CNY 495,283.06, a decrease from CNY 718,773.90 in the previous year[31] - The company’s total liabilities reached CNY 189,417,673.39, compared to CNY 81,658,430.30 in the previous year[31] - The company’s retained earnings decreased to CNY 148,137,355.60 from CNY 202,985,091.25 year-over-year[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 154[12] - The largest shareholder, Ding'an Aohua Food Technology Co., Ltd., held 40.65% of the shares[12] - The company implemented a cash dividend distribution of ¥93,000,000, distributing ¥10 per 10 shares to shareholders, based on undistributed profits of ¥202,985,091.25 as of December 31, 2019[21] Other Financial Metrics - The company received government subsidies amounting to ¥3,844,087.51 during the reporting period[9] - The company reported a significant increase in construction in progress, rising to CNY 18,902,545.89 from CNY 7,349,334.30[30] - Research and development expenses decreased to CNY 3,490,530.03 from CNY 5,108,251.55, a reduction of 31.7%[39] - Tax expenses for the quarter were CNY 4,741,467.59, significantly higher than CNY 2,601,669.89 in the previous year[39] - The company experienced a financial asset impairment loss of CNY -51,787.80 compared to a loss of CNY -1,083,838.55 in the previous year[39] - The company reported investment income of CNY 1,304,178.62, an increase from CNY 277,289.17 in the previous year[48]