Financial Performance - The company's revenue for Q1 2021 was CNY 147,696,606.23, representing a 13.77% increase compared to CNY 129,821,493.01 in the same period last year[10]. - Net profit attributable to shareholders was CNY 17,322,243.33, a 2.00% increase from CNY 16,982,369.37 year-on-year[10]. - The net profit after deducting non-recurring gains and losses decreased by 48.12% to CNY 9,802,533.47 from CNY 18,894,533.08 in the previous year[10]. - The net cash flow from operating activities increased significantly by 147.38% to CNY 30,670,533.72 compared to CNY 12,397,971.91 in the same period last year[10]. - Total operating revenue for Q1 2021 was CNY 147,696,606.23, an increase of 13.6% compared to CNY 129,821,493.01 in the same period last year[55]. - Total operating costs for Q1 2021 were CNY 137,894,180.78, up 24.5% from CNY 110,746,915.07 in Q1 2020[56]. - The total comprehensive income for the first quarter of 2021 was CNY 18,220,738.90, compared to CNY 16,193,060.25 in the same period of 2020, representing an increase of approximately 12.5%[62]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 913,741,476.78, up 4.50% from CNY 874,431,397.93 at the end of the previous year[10]. - Total liabilities amounted to CNY 281,448,260.69 as of March 31, 2021, compared to CNY 259,460,425.17 at the end of 2020, reflecting a rise of about 8.5%[49]. - The company's retained earnings increased to ¥283,757,618.45 as of March 31, 2021, compared to ¥266,435,375.12 at the end of 2020, representing a growth of approximately 6.5%[50]. - The total equity attributable to shareholders rose to ¥632,293,216.09 as of March 31, 2021, up from ¥614,970,972.76 at the end of 2020, indicating an increase of about 2.0%[50]. - Current assets increased to ¥157,818,467.39 as of March 31, 2021, up from ¥130,327,543.12 on December 31, 2020, representing a growth of approximately 20.9%[47]. - Total liabilities as of Q1 2021 amounted to CNY 297,636,428.35, an increase from CNY 279,152,105.51 in the previous year[56]. Research and Development - The company is investing 8 million yuan in independent R&D projects focused on standardized chicken farming and nutrition technology[23]. - The company invested a total of 800.00 million CNY in independent research projects related to egg production and waste management[24]. - The company is developing a fine breeding and health management technology for the American Hy-Line egg-laying chicken, focusing on performance data collection and welfare-based feeding models[26]. - The company is conducting research on the effective utilization of chicken waste and its safe application in agriculture[24]. - The company invested 622.00 million CNY in the development of key breeding technologies for high-yield egg-laying chickens, focusing on the application of precision breeding techniques in the western region of China[27]. - The company emphasizes the importance of technology innovation, with a commitment to increasing R&D funding to enhance product quality and meet market demands[28]. Market and Operational Strategy - The company plans to invest raised funds into multiple projects, including the Alashan million chicken ecological breeding base and the egg chicken industry research institute[37]. - The company aims to enhance its core competitiveness through management and technological innovations, focusing on standardized management and production efficiency[37]. - The company is focused on expanding its market presence and diversifying its product offerings to mitigate market risks[37]. - The company has established partnerships with institutions like Shanghai Academy of Agricultural Sciences and Ningxia University to foster talent and improve technical capabilities[28]. - The company reported that the domestic egg consumption market is significantly influenced by macroeconomic factors, seasonal changes, and public health events, leading to price volatility[33]. Risks and Challenges - The company faces significant risks from avian diseases, which could severely impact production performance and lead to increased operational costs due to vaccination and emergency measures[30]. - Fluctuations in raw material prices, particularly corn and soybean meal, pose a risk to the company's production costs and overall profitability[31]. - The company has a diversified supplier system, with frequent changes among the top five suppliers to enhance supply chain resilience[29]. - The company maintains a broad customer base, leading to significant variability in the top five customers over time[29]. - The company has taken proactive measures to respond to the challenges posed by the COVID-19 pandemic, although its 2020 operating performance was still negatively impacted[34]. Cash Flow and Investments - Cash inflow from operating activities totaled CNY 163,631,179.53, up from CNY 133,236,805.18, indicating a growth of approximately 22.8%[65]. - The net cash flow from financing activities was negative at CNY -2,488,319.85, compared to a positive CNY 22,439,715.58 in the same period last year[69]. - The ending balance of cash and cash equivalents increased to CNY 51,019,767.82 from CNY 33,750,451.05, representing a growth of about 51.1%[66]. - The company reported a total cash inflow from sales of goods and services of CNY 154,737,012.47, compared to CNY 132,029,463.72 in the previous year, an increase of approximately 16.3%[64]. Lease Agreements and Accounting Adjustments - The company has ongoing lease agreements with various entities, including a contract with Shaanxi Chia Tai Co., Ltd. for a hatchery facility valid until September 30, 2023[78]. - The company executed adjustments in accounting standards, increasing "right-of-use assets" by CNY 27,937,987.31 and decreasing "long-term prepaid expenses" by CNY 5,157,338.56[75]. - The "Lease Liabilities" account increased by CNY 21,145,180.35 following the adoption of the new leasing standards[79].

Financial Performance - In 2020, the company achieved a sales revenue of 540.02 million yuan, a year-on-year increase of 0.11%[6]. - The net profit attributable to shareholders was 50.25 million yuan, a year-on-year decrease of 54.91%[6]. - The company's revenue for 2020 was approximately ¥540 million, a slight increase of 0.11% compared to ¥539 million in 2019[29]. - Net profit attributable to shareholders decreased by 54.91% to approximately ¥50 million from ¥111 million in 2019[29]. - The net cash flow from operating activities fell by 54.33% to approximately ¥85 million, down from ¥186 million in 2019[29]. - Basic earnings per share dropped by 54.43% to ¥0.36 from ¥0.79 in the previous year[29]. - Total assets increased by 12.87% to approximately ¥874 million at the end of 2020, compared to ¥775 million at the end of 2019[29]. - The company's net assets attributable to shareholders rose by 8.90% to approximately ¥615 million from ¥565 million in 2019[29]. - Total revenue for the year was approximately 541 million RMB, with a quarterly breakdown showing Q1 at 129.82 million RMB, Q2 at 151.07 million RMB, Q3 at 145.73 million RMB, and Q4 at 113.40 million RMB[32]. - Net profit attributable to shareholders for the year was approximately 50 million RMB, with Q1 at 16.98 million RMB, Q2 at 15.24 million RMB, Q3 at 17.98 million RMB, and a significant drop in Q4 to 0.05 million RMB[32]. Market and Industry Trends - The company reported that the poultry industry is undergoing a transformation, with no severe overcapacity or continuous decline observed[6]. - The egg production industry in China has completed the transformation towards good breed, specialization, facility-based, and market-oriented operations, forming a relatively complete division of labor system[57]. - The egg industry in China is experiencing a shift towards large-scale modern integrated production enterprises, driven by environmental regulations and food safety standards[58]. - The overall supply capacity of the egg industry is primarily determined by the scale of grandparent breeding, while demand is influenced by the consumption market and processing industry[56]. - The industry is transitioning from quantity growth to quality and efficiency, driven by government policies and structural reforms[70]. - The number of small-scale chicken farms (under 100,000 birds) accounts for 99.4% of the total, indicating a highly fragmented market[72]. - The company has established a comprehensive internal control system for procurement and production management[43]. Operational Strategies - The company maintained growth in its main business and market share despite the challenges, focusing on high-quality development and cost control[6]. - The company aims to enhance its core competitiveness through management and technological innovations, focusing on standardized management and production efficiency[17]. - The company has established a robust biosecurity system, with no major infectious diseases reported since its inception[103]. - The company employs advanced single-stage incubation technology, improving overall hatching rates and chick health rates[81]. - The company utilizes a "centralized breeding, decentralized hatching" model to optimize production costs and efficiency[105]. - The company has established advanced production facilities, including a modern breeding farm equipped with precise environmental control systems and state-of-the-art incubation technology[107]. - The company has built a strong technical research and development team, focusing on feed nutrition, disease control, and automated breeding technologies[109]. Research and Development - The company is committed to increasing R&D investment to improve biosecurity and disease prevention technologies[17]. - The company has invested a total of 800,000 RMB in three independent R&D projects focused on precision nutrition and feed technology for layer chickens[151]. - The R&D team is structured into specialized centers focusing on disease control, nutrition, and environmental monitoring, enhancing operational efficiency[121]. - The company has applied for several patents related to feed formulation and preparation methods, indicating ongoing innovation in product development[120]. - The company aims to establish a comprehensive disease prevention and purification system for five major poultry diseases, enhancing overall flock health and reducing vaccination costs[153]. Financial Management and Investments - The company plans to invest raised funds into multiple projects, including ecological breeding bases and a research institute, which may face implementation risks[16]. - The company has implemented a comprehensive financial and operational management system, integrating various business functions to enhance efficiency[107]. - The company has received government subsidies amounting to approximately 7.11 million RMB in 2020, an increase from 5.57 million RMB in 2019[35]. - The company has maintained a consistent cash dividend policy, with no adjustments made during the reporting period[180]. - The company proposed a cash dividend of CNY 1.00 per share (before tax), totaling CNY 18,750,600.00 for the year 2020[180]. Challenges and Risks - The company faced significant impacts from the COVID-19 pandemic, affecting product transportation and leading to customer order cancellations[12]. - The company highlighted risks related to price fluctuations of raw materials, particularly corn and soybean meal, which could adversely affect operating performance[8]. - The profit level in the egg-laying industry is highly volatile, influenced by factors such as livestock capacity adjustments, egg price fluctuations, feed costs, and rising labor and environmental costs[73]. Future Outlook - The company has set a performance guidance for 2021, projecting a revenue increase of 20% to CNY 1.44 billion[188]. - The company plans to enhance brand awareness through advertising, media coverage, and public relations activities, aiming to create more regional famous brands and strive for national famous trademarks[172]. - The company aims to improve operational efficiency, targeting a reduction in costs by 8% through process optimization[193]. - The company is considering strategic acquisitions to enhance its market position, with a budget of CNY 200 million earmarked for potential acquisitions in 2021[188].