山东三元生物科技股份有限公司董事会 关于独立董事独立性自查情况的专项意见 根据《上市公司独立董事管理办法》《深圳证券交易所上市公司自律监管指 引第 2 号——创业板上市公司规范运作》等相关规定，山东三元生物科技股份有 限公司（以下简称"公司"）董事会，就公司在任独立董事杨公随、王玲、谭海 宁的独立性情况及离任独立董事赵春海 2024 年在职期间的独立性情况进行评估 并出具如下专项意见： 经核查独立董事杨公随、王玲、谭海宁、赵春海（离任）的任职经历以及签 署的相关自查文件，上述人员未在公司担任除独立董事以外的任何职务，也未在 公司主要股东公司担任任何职务，与公司以及主要股东之间不存在利害关系或其 他可能妨碍其进行独立客观判断的关系，不存在影响独立董事独立性的情况。公 司独立董事符合《上市公司独立董事管理办法》《深圳证券交易所上市公司自律 监管指引第 2 号——创业板上市公司规范运作》中对独立董事独立性的相关要求。 山东三元生物科技股份有限公司 董事会 2025 年 4 月 28 日 ...

山东三元生物科技股份有限公司 2024年度独立董事述职报告 （赵春海） 尊敬的各位股东及股东代表： 本人作为山东三元生物科技股份有限公司（以下简称"公司"）第四届董 事会的独立董事，任职期间严格按照《公司法》《证券法》《上市公司独立董 事管理办法》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市 公司自律监管指引第2 号——创业板上市公司规范运作》等相关法律法规以及 《公司章程》《独立董事工作制度》的规定和要求，认真履行独立董事职责， 出席相关会议，对各项议案进行认真审议，充分发挥独立董事的独立性和专业 性作用，积极促进公司规范运作，切实维护公司全体股东尤其是中小股东的合 法利益。 公司于2024年7月3日、7月19日召开了第四届董事会第二十二次会议及2024 年第二次临时股东大会，会议审议通过了《关于董事会换届选举暨提名第五届 董事会独立董事候选人的议案》，于2024年7月19日召开了第五届董事会第一次 会议，会议审议通过了《关于选举公司第五届董事会专门委员会委员的议案》。 鉴于公司董事会换届选举，本人自2024年7月19日起，不再担任公司独立董事及 董事会提名委员会主任委员、薪酬与考核委员会委员和 ...

山东三元生物科技股份有限公司 2024年度独立董事述职报告 （谭海宁） 尊敬的各位股东及股东代表： 本人作为山东三元生物科技股份有限公司（以下简称"公司"）第五届董 事会的独立董事，任职期间严格按照《公司法》《证券法》《上市公司独立董 事管理办法》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市 公司自律监管指引第2 号——创业板上市公司规范运作》等相关法律法规以及 《公司章程》《独立董事工作制度》的规定和要求，认真履行独立董事职责， 出席相关会议，对各项议案进行认真审议，充分发挥独立董事的独立性和专业 性作用，积极促进公司规范运作，切实维护公司全体股东尤其是中小股东的合 法利益。本人自2024年7月19日起，担任公司第五届董事会独立董事及第五届董 事会提名委员会主任委员、薪酬与考核委员会委员和战略委员会委员职务，现 将本人2024年度任职期间（2024年7月19日-2024年12月31日）履行独立董事职 责的工作情况汇报如下： 一、独立董事的基本情况 谭海宁先生，1983年出生，中国国籍，无境外永久居留权，微生物与生化 药学专业，博士研究生学历。2009年7月至2011年7月，就职于山东大学国家糖 ...

山东三元生物科技股份有限公司 尊敬的各位股东及股东代表： 本人作为山东三元生物科技股份有限公司（以下简称"公司"）第五届董 事会的独立董事，任职期间严格按照《公司法》《证券法》《上市公司独立董 事管理办法》《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市 公司自律监管指引第2 号——创业板上市公司规范运作》等相关法律法规以及 《公司章程》《独立董事工作制度》的规定和要求，认真履行独立董事职责， 出席相关会议，对各项议案进行认真审议，充分发挥独立董事的独立性和专业 性作用，积极促进公司规范运作，切实维护公司全体股东尤其是中小股东的合 法利益。现将本人2024年度履行独立董事职责的工作情况汇报如下： 一、独立董事的基本情况 杨公随先生，1966年出生，中国国籍，无境外永久居留权，技术经济及管 理专业，博士研究生学历，会计学教授，注册会计师。1988年7月至2004年8月， 就职于山东经济学院，历任会计系讲师、会计学院副教授；2004年9月至2005年 6月，就职于清华大学，任访问学者；2005年7月至2005年10月，就职于山东经 济学院会计学院，任副教授；2005年11月至今，任山东财经大学会计学院，任 ...

Financial Performance - The company's revenue for Q1 2024 reached ¥191,894,599.16, representing a 65.03% increase compared to ¥116,276,458.04 in the same period last year[4] - Net profit attributable to shareholders was ¥24,247,672.28, a significant increase of 210.54% from ¥7,808,194.59 year-on-year[4] - Basic and diluted earnings per share both increased to ¥0.12, reflecting a 200.00% rise from ¥0.04 in the same quarter last year[4] - Total operating revenue for the current period reached ¥191,894,599.16, a significant increase from ¥116,276,458.04 in the previous period, representing a growth of approximately 64.8%[23] - Net profit for the current period was ¥24,247,672.28, compared to ¥7,808,194.59 in the previous period, reflecting a growth of approximately 210.5%[24] Cash Flow - The net cash flow from operating activities surged by 744.81% to ¥22,158,704.92, up from ¥2,622,930.65 in the previous year[4] - Total cash inflow from operating activities reached 202,928,457.01 yuan, up from 143,143,501.00 yuan, reflecting a growth of 41.6%[26] - Cash outflow for operating activities was 180,769,752.09 yuan, compared to 140,520,570.35 yuan, an increase of 28.6%[26] - Net cash flow from investing activities was -32,224,720.95 yuan, an improvement from -328,183,999.71 yuan in the previous period[27] - The company received 18,871,599.36 yuan in tax refunds, up from 12,477,423.01 yuan, indicating a growth of 51.1%[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,879,388,138.47, a 1.49% increase from ¥4,807,533,905.12 at the end of the previous year[4] - Current assets totaled ¥351,020,607.19, up from ¥321,813,853.97, which is an increase of approximately 9.0%[21] - The total liabilities increased to ¥320,010,491.34 from ¥272,403,930.27, indicating a rise of about 17.5%[22] - The total equity attributable to the parent company increased to ¥4,559,377,647.13 from ¥4,535,129,974.85, a growth of about 0.5%[22] Operating Costs and Expenses - The company reported a 44.95% increase in operating costs, primarily due to higher sales volume[8] - Total operating costs amounted to ¥194,873,387.02, up from ¥135,685,668.54, indicating an increase of about 43.5%[23] - Research and development expenses rose by 34.31%, indicating the company's commitment to enhancing competitiveness through increased market expansion and R&D investment[8] - The company's research and development expenses were ¥15,833,077.03, compared to ¥11,788,523.18 in the previous period, reflecting an increase of approximately 34.5%[23] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,093, with the largest shareholder holding 46.14% of the shares[10] - The total number of shares held by the top 10 shareholders is 98,780,906, with a significant portion being subject to lock-up agreements[15] - The largest shareholder, 聂在建, holds 92,946,000 shares, which are subject to a lock-up until August 10, 2025[15] - The company has a total of 127,969 shares released from lock-up during the reporting period[15] Management and Governance - The company plans to use up to RMB 240 million of temporarily idle raised funds for cash management within 12 months from the approval date of the shareholders' meeting[16] - The company intends to utilize up to RMB 100 million of temporarily idle self-owned funds for cash management, also within a 12-month period from the shareholders' meeting approval[17] - The company's management is authorized to make investment decisions within the approved limits for cash management[18] Miscellaneous - The company’s financial reports are prepared as of March 31, 2024, indicating ongoing financial assessments[19] - The first quarter report was not audited, indicating a preliminary financial assessment[28] - The company did not report any net increase in customer deposits or interbank placements during the period[26]

Financial Performance - The company's operating revenue for 2024 reached ¥712,904,207.78, representing a 42.72% increase compared to ¥499,500,775.41 in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥104,951,340.17, an increase of 87.47% from ¥58,874,449.10 in the previous year[22]. - The basic earnings per share for 2024 was ¥0.52, reflecting an 85.71% increase from ¥0.29 in 2023[22]. - The total assets at the end of 2024 were ¥4,805,251,739.12, a slight decrease of 0.05% from ¥4,810,426,435.78 at the end of 2023[22]. - The net assets attributable to shareholders decreased by 0.97% to ¥4,491,208,199.82 at the end of 2024 from ¥4,538,022,505.51 in 2023[22]. - The company reported a net cash flow from operating activities of -¥13,649,510.39 in 2024, a significant decline of 123.82% compared to ¥57,310,770.18 in 2023[22]. - The gross profit margin for the overall business in 2024 was 11.11%, up from 3.05% in 2023[94]. - The revenue from erythritol products was ¥515,434,856.5 in 2024, with a gross profit margin of 8.28%[92]. - The revenue from blended sweeteners increased by 90.70% to ¥105,323,176.5 in 2024, with a gross profit margin of 17.21%[92]. - The revenue from direct sales in 2024 was ¥218,508,291.7, with a gross profit margin of 16.45%[94]. - The revenue from the food manufacturing sector amounted to ¥698,508,291.94, accounting for 97.98% of total revenue, with a year-on-year growth of 44.70%[124]. Market and Product Development - The company aims to enhance its product offerings in the functional sugar market, focusing on low-calorie sweeteners[16]. - The company is actively pursuing market expansion strategies to increase its footprint in the health food sector[16]. - The company has plans for new product development in response to growing consumer demand for healthier alternatives[16]. - The company is committed to improving its extraction rates and conversion rates in the production of functional sugars[16]. - The company is focusing on new product development in areas such as allulose and high-quality stevia, investing significant R&D resources[116]. - The company aims to accelerate the commercialization of new products and technologies to expand into new business areas[121]. - The company plans to enhance its product offerings by promoting high-quality stevia and accelerating the production of allulose and tagatose[185]. Industry Trends and Challenges - The global demand for erythritol is projected to reach 238,000 tons in 2024, with a compound annual growth rate (CAGR) of 22% from 2020 to 2024[34]. - The global erythritol market is expected to reach a value of $1.17426 billion by 2025, with a CAGR of 17.34% from 2025 to 2030[34]. - The erythritol industry is currently experiencing a phase of market restructuring, with many new entrants facing challenges in product quality and competition[42]. - The European Union initiated anti-dumping investigations against Chinese erythritol products, with potential duties ranging from 34.4% to 233.3%[43]. - The company faces risks from intensified industry competition and potential fluctuations in downstream customer demand, which could impact sales and pricing[179]. Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by the company's management, ensuring accountability for any misrepresentation[3]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective internal control and operational standards[193]. - The board of directors consists of 9 members, including 3 independent directors, and operates through specialized committees to fulfill its responsibilities[195]. - The supervisory board is composed of 3 members, including 1 employee representative, and effectively supervises major company matters and compliance[196]. - The controlling shareholder exercises rights and obligations lawfully, without interfering in the company's decision-making or operations[197]. - The company respects and protects the rights of stakeholders, ensuring a balance of interests among shareholders, employees, and society[199]. - There have been no instances of non-compliance in governance, such as providing undisclosed information to major shareholders[199]. Research and Development - Research and development (R&D) expenditure amounted to 41,232,951.56 yuan, representing 5.78% of operating revenue, a decrease from 10.14% in the previous year[142]. - The number of R&D personnel increased by 9.26% to 59, with a notable rise in the proportion of personnel aged 40 and above by 44.44%[142]. - The company has developed core patents for the fermentation extraction of erythritol, achieving industry-leading conversion rates[115]. - The company is developing new products such as high-efficiency erythritol fermentation strains, aiming to increase production yield and conversion rates by over 5%[144]. - The company has successfully developed high-quality steviol glycosides, which has reduced R&D expenses significantly[143]. Cash Management and Fund Utilization - The company has raised a total of 368,570.53 million CNY from its initial public offering, with a net amount of 354,664.46 million CNY after deducting issuance costs of 13,906.07 million CNY[165]. - The company plans to use up to 330,000.00 million CNY of temporarily idle raised funds for cash management, ensuring it does not affect the construction of investment projects[165]. - The company has not encountered any issues or other situations regarding the use of raised funds during the reporting period[167]. - The company has not sold any major assets during the reporting period[170]. - The company has utilized a total of 126,026.24 million yuan of its own funds for investment[167]. Strategic Initiatives - The company will implement a threefold optimization strategy in sales, focusing on market diversification, small packaging product promotion, and enhancing brand influence[175]. - The company is committed to developing new products, including tagatose and sialic acid, to diversify its product line and reduce operational risks associated with a narrow product focus[176]. - The company will enhance its safety production measures and environmental governance to ensure stable operations and promote low-carbon production processes[177]. - The company plans to strengthen its innovation system by integrating customer needs with technological advancements, aiming for a closed-loop mechanism from demand to commercialization[176].

Financial Performance - The company's operating revenue for Q1 2025 was ¥150,204,941.37, a decrease of 21.73% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥24,913,986.70, representing a year-on-year increase of 2.75%[4]. - Total operating revenue for the current period is ¥150,204,941.37, a decrease of 21.8% from ¥191,894,599.16 in the previous period[30]. - Net profit for the current period is ¥24,891,688.68, slightly up from ¥24,247,672.28, indicating a growth of 2.7%[31]. - The total comprehensive income for the current period is ¥24,891,688.68, compared to ¥24,247,672.28 in the previous period, reflecting a growth of 2.7%[32]. Cash Flow - Cash flow from operating activities increased by 83.98% to ¥40,768,366.48, primarily due to a reduction in payments for purchased goods[4][14]. - Operating cash flow net amount increased significantly to ¥40,768,366.48 from ¥22,158,704.92, a growth of 83.9%[34]. - The company reported a significant increase of 4,774.62% in cash flow from investing activities, mainly due to the maturity of large certificates of deposit[14]. - The company experienced a significant increase in cash and cash equivalents, ending the period with ¥1,634,381,193.93, up from ¥95,348,055.91[35]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,751,521,629.28, a decrease of 1.12% from the end of the previous year[5]. - As of March 31, 2025, the company's total current assets amounted to RMB 2,933,444,421.90, a decrease from RMB 3,387,997,986.58 at the beginning of the period[27]. - The company's total non-current assets increased to RMB 1,818,077,207.38 from RMB 1,417,253,752.54[28]. - The total assets of the company as of March 31, 2025, were RMB 4,751,521,629.28, down from RMB 4,805,251,739.12[28]. - The company's total liabilities decreased to RMB 258,898,969.94 from RMB 314,043,539.30[28]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,930[16]. - The largest shareholder, Nie Zaijian, holds 46.31% of the shares, totaling 93,698,770 shares[16]. - The second-largest shareholder, Shandong Luxin Qisheng Investment Management Co., holds 6.62% with 13,400,750 shares[16]. - The total number of restricted shares at the beginning of the period was 99,686,475, with 4,971,975 shares released during the period[19]. - The total number of restricted shares at the end of the period is 94,714,500[20]. - Nie Zaijian's restricted shares will be released on August 10, 2025, totaling 92,946,000 shares[19]. - The company has a total of 1,365,000 restricted shares held by shareholder Nie Yuyue, which will be released on February 10, 2025[20]. - The company has not reported any changes in the top 10 shareholders due to securities lending or borrowing[17]. - The top 10 shareholders include a mix of individual and institutional investors, with significant holdings by private equity funds[16]. - The company has not disclosed any other relationships or agreements among the top shareholders[17]. Research and Development - Research and development expenses decreased by 38.46% compared to the same period last year, as existing projects reached completion and new projects are still under evaluation[13]. - Research and development expenses decreased to ¥9,744,135.17 from ¥15,833,077.03, a reduction of 38.5%[30]. Other Financial Activities - The company is undergoing a correction of prior accounting errors as mandated by the regulatory authority, which will not affect the overall financial position[6]. - The company approved the use of surplus funds amounting to RMB 79,399.00 million for permanent working capital, representing 29.99987% of the total surplus funds[22]. - The company plans to use up to RMB 190,000 million of temporarily idle surplus funds for cash management within 12 months[23]. - The company will continue to use up to RMB 200,000 million of temporarily idle self-owned funds for cash management, also within 12 months[24]. - The company has completed the investment project for an annual production of 50,000 tons of erythritol and will use the surplus funds of RMB 352.2712 million for daily operations[21]. - The company has authorized management to make investment decisions within the approved limits for cash management activities[23]. Earnings Per Share - The company's basic and diluted earnings per share remained unchanged at ¥0.12[4]. - The company reported a basic and diluted earnings per share of ¥0.12, unchanged from the previous period[32]. Audit Status - The company has not undergone an audit for the first quarter report[36].

Financial Performance - The erythritol industry faced unprecedented challenges during the reporting period, leading to oversupply and price declines, which negatively impacted sales revenue and profits[4]. - The company reported a year-on-year decline in both sales revenue and profit due to the dual impact of price and volume[4]. - The company's revenue for 2023 was ¥499,500,775.41, a decrease of 25.99% compared to ¥674,905,595.63 in 2022[22]. - The net profit attributable to shareholders for 2023 was ¥55,981,918.44, down 65.80% from ¥163,686,641.34 in the previous year[22]. - The basic earnings per share for 2023 was ¥0.28, a decline of 65.85% from ¥0.82 in 2022[22]. - The total assets at the end of 2023 amounted to ¥4,807,533,905.12, a decrease of 1.28% from ¥4,869,919,341.29 at the end of 2022[22]. - The net assets attributable to shareholders at the end of 2023 were ¥4,535,129,974.85, down 1.85% from ¥4,620,776,046.41 in 2022[22]. - The cash flow from operating activities for 2023 was ¥57,310,770.18, a decrease of 31.99% compared to ¥84,264,654.04 in 2022[22]. - The weighted average return on equity for 2023 was 1.23%, down from 3.80% in 2022[22]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was ¥54,790,117.06 in 2023, down 66.25% from ¥162,331,457.53 in 2022[22]. - The company has experienced a significant decline in both revenue and profit margins over the past year, indicating potential challenges in market performance[22]. Market Trends and Industry Insights - The functional sugar market, particularly erythritol, has seen a compound annual growth rate (CAGR) of 48.9% from 2015 to 2022, indicating rapid industry growth[34]. - China accounted for 78.9% of the global erythritol production in 2022, with a total output of approximately 139,000 tons[34]. - The functional sugar industry is supported by favorable government policies aimed at reducing sugar consumption, creating a conducive environment for growth[42]. - The functional sugar industry in China is experiencing rapid growth, driven by increasing consumer demand for health-oriented, low-sugar, and sugar-free products[44]. - The market size for the sugar-free beverage industry in China is projected to reach approximately 748.9 billion CNY by 2027, with a compound annual growth rate (CAGR) of 38.1% from 2015 to 2023[47]. - Erythritol remains the leading sugar substitute in the zero-sugar and low-sugar beverage market, with widespread acceptance among consumers and regulatory bodies[46]. Product Development and Innovation - The company is focusing on developing functional foods and expanding its product offerings in response to market demands[22]. - The company is actively expanding its market presence by participating in food exhibitions in countries such as the USA, Russia, Brazil, Japan, South Korea, Thailand, and Dubai[97]. - The company is increasing its R&D efforts, focusing on new product development in the functional sugar sector, with products like high-quality stevia, sodium hyaluronate, and tagatose in the pipeline[100]. - The company has developed over 20 varieties of blended sugars, including monk fruit and stevia blends, tailored to customer specifications[59]. - The company has developed key applications for erythritol, including table sugar, beverages, and confectionery, leveraging its natural, near-zero calorie, and pure taste characteristics[61]. - The company is currently developing a fermentation process for rare sugars, which is expected to create new business opportunities[117]. - The company has established a research subsidiary and various research platforms to enhance its innovation capabilities and maintain competitive advantages in product quality and cost[94]. Strategic Initiatives and Future Outlook - The company aims to maintain a market-leading position in erythritol while developing competitive functional sugars and other sugar products, targeting sectors such as special medical foods, cosmetics, and drug delivery systems[148]. - The company plans to adopt a product development strategy of "one generation listed, one generation in research, and one generation in reserve" to ensure a steady pipeline of new products[149]. - The company is committed to enhancing its research and development capabilities by collaborating with leading food fermentation research institutions to diversify its product offerings[150]. - The company plans to increase its workforce by 10% to support the anticipated growth in production and R&D activities[193]. - The management team has emphasized the importance of innovation, with a commitment to allocate 15% of revenue towards R&D initiatives[194]. Governance and Compliance - The company has established a board of directors consisting of 9 members, including 3 independent directors, complying with relevant laws and regulations[166]. - The company has a supervisory board with 3 members, including 1 employee supervisor, ensuring compliance and oversight of major company matters[167]. - The company maintains independence from its controlling shareholders, with no unauthorized use of company funds or interference in decision-making[168]. - The company has implemented a performance evaluation and incentive mechanism for directors and senior management, aligning with its development status[169]. - The company adheres to strict information disclosure practices, ensuring transparency and fairness for all investors[171]. - The internal audit system is effectively implemented, enhancing governance and ensuring the achievement of operational goals[172]. Customer and Market Risks - Erythritol accounted for 81.67% of the company's total revenue in 2023, indicating a risk due to the company's reliance on a single product line[153]. - The top five customers contributed 36.12% of total annual sales, indicating a high customer concentration risk[159]. - The company aims to diversify its customer base and develop new products to mitigate risks associated with major customer changes[159]. - The company recognizes the risk of intensified competition and market demand fluctuations, which could impact sales and pricing of erythritol products[153]. - Raw materials accounted for 63.83% of the main business costs in 2023, with fluctuations in corn prices posing a risk to profitability[155].

Financial Performance - The company's revenue for the reporting period reached ¥376,846,697.32, representing a 60.15% increase compared to ¥235,313,762.07 in the same period last year [22]. - Net profit attributable to shareholders was ¥51,913,757.70, up 55.82% from ¥33,317,037.94 year-on-year [22]. - The net cash flow from operating activities surged to ¥22,872,518.72, a significant increase of 9,206.18% compared to ¥245,777.66 in the previous year [22]. - Basic earnings per share increased to ¥0.26, reflecting a 62.50% rise from ¥0.16 in the same period last year [22]. - Total assets at the end of the reporting period were ¥4,847,401,468.95, a slight increase of 0.83% from ¥4,807,533,905.12 at the end of the previous year [22]. - The gross margin for erythritol was 9.09%, with revenue from this product at ¥311,460,240.16, reflecting a 51.85% increase year-over-year [119]. - The gross margin for blended sugars was 87.79%, showing a slight decrease of 0.40% year-on-year [87]. - The company reported a total revenue of ¥376,846,697.32, with a year-on-year growth of 60.15% [89]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares to all shareholders, based on a total of 201,865,000 shares [4]. - The total distributable profit amounts to 738,596,018.68 CNY, indicating a strong financial position for future investments [160]. - The company plans to distribute a cash dividend of CNY 1.5 per 10 shares, totaling CNY 30,279,750, based on a total share capital of 201,865,000 shares after accounting for repurchased shares [162]. - The company is in a growth phase and has significant capital expenditure plans, ensuring that cash dividends will not fall below 20% of profit distribution in the future [160]. Market and Industry Insights - The functional sugar industry is experiencing rapid growth, driven by increasing health consciousness and demand for low-calorie sweeteners, with a focus on products like erythritol, allulose, and high-quality stevia [31]. - Global demand for erythritol is projected to reach 238,000 tons by 2024, with a compound annual growth rate (CAGR) of 22% from 2020 to 2024, indicating strong market demand [33]. - The erythritol market is facing supply-demand imbalances due to excessive production capacity, leading to intensified competition and price declines, with prices dropping from 40,000 RMB/ton in 2021 to 9,500 RMB/ton in the first half of 2023 [39]. - The European Union initiated an anti-dumping investigation on Chinese erythritol products, imposing temporary duties ranging from 31.9% to 235.6%, affecting competitiveness in the EU market [41]. - The global allulose market size was $210 million at the end of 2020 and is expected to grow to $450 million by 2030, with a CAGR of 9.1% [45]. - The company is focusing on expanding into emerging markets in Southeast Asia, India, the Middle East, and South America to mitigate risks from concentrated markets [150]. Production and Technology - The company has developed a yeast-based enzymatic production process, achieving small-scale production with a planned capacity of 3,000 tons per year by July 2024 [59][60]. - The new production technology significantly reduces costs and improves efficiency, providing a competitive advantage in the high-quality sweetener market [60]. - The company has implemented an ERP system integrated with production automation, enhancing operational efficiency and reducing production costs [104]. - The company has developed advanced fermentation technology, achieving a conversion rate of over 54.5% for erythritol production, significantly higher than previous rates [102]. Governance and Compliance - The company held its annual general meeting on May 15, 2024, with 49.11% of investors participating, approving key reports and future shareholder return plans [157]. - The company has undergone a board restructuring, with new appointments for key positions including Chairman and General Manager effective July 19, 2024 [158][159]. - The company emphasizes sustainable development, balancing economic and social benefits while adhering to legal operations and tax obligations [169]. - The company has established a complete supplier management system to ensure the protection of supplier rights and promote mutual development [171]. Environmental and Social Responsibility - The company has invested in green energy initiatives, including a stable distributed photovoltaic power generation project that meets part of its electricity needs [168]. - The company has maintained compliance with environmental regulations, with all monitoring indicators meeting national standards [167]. - The company actively pursues environmental protection responsibilities, integrating ecological requirements into its business operations for sustainable development [172]. - The company prioritizes employee rights, providing a safe working environment and adhering to labor laws, while also focusing on employee development and training [171]. Risks and Challenges - The company is facing a temporary anti-dumping tax of 156.7% on erythritol exports to the EU, impacting its market presence in that region [150]. - The production and sales of erythritol have decreased due to intensified competition and a slowdown in downstream customer demand, leading to lower prices [134]. - The company acknowledges the potential risks to future profits due to internal and external factors, and investors should not rely solely on the measures outlined for investment decisions [179].

Financial Performance - The company's operating revenue for Q3 2024 reached ¥138,076,442.87, representing a 19.16% increase year-over-year, and a total of ¥514,923,140.19 for the year-to-date, up 46.62% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2024 was ¥29,093,416.24, a significant increase of 248.18% year-over-year, with a year-to-date net profit of ¥81,007,173.94, up 94.39%[4] - Basic and diluted earnings per share for Q3 2024 were both ¥0.14, reflecting a 250.00% increase compared to the same period last year, with year-to-date earnings per share at ¥0.40, up 90.48%[4] - Total operating revenue for the current period reached ¥514,923,140.19, a significant increase of 46.5% compared to ¥351,192,635.35 in the previous period[27] - Operating profit for the current period was ¥85,493,929.39, up 90.5% from ¥44,871,999.14 in the previous period[28] - Net profit attributable to the parent company was ¥81,007,173.94, representing a 94.3% increase from ¥41,672,900.57 in the previous period[28] - Basic and diluted earnings per share increased to ¥0.40 from ¥0.21, reflecting a growth of 90.5%[28] - The company reported a tax expense of ¥4,736,208.37, compared to ¥3,377,080.39 in the previous period, indicating an increase of 39.9%[28] - The company recorded other income of ¥1,546,304.35, up from ¥821,692.01 in the previous period, marking an increase of 88.2%[27] Assets and Liabilities - The company's total assets at the end of Q3 2024 were ¥4,763,833,724.23, a slight decrease of 0.91% from the end of the previous year[4] - As of September 30, 2024, the total assets of the company amounted to ¥4,763,833,724.23, a slight decrease from ¥4,807,533,905.12 at the beginning of the period[25][26] - The company’s non-current assets totaled ¥1,407,629,556.93, compared to ¥4,485,720,051.15 at the beginning of the period, showing a significant decrease[26] - Total current liabilities were reported at ¥187,482,982.83, down from ¥224,197,013.02, indicating a reduction of about 16.4%[26] - The company’s retained earnings stood at ¥734,493,416.48, slightly down from ¥742,459,712.82, reflecting a decrease of about 1.1%[26] - The company’s total liabilities were reported at ¥239,671,475.10, down from ¥272,403,930.27, indicating a decrease of approximately 12%[26] Cash Flow - Cash flow from operating activities for the year-to-date was ¥6,970,913.77, down 68.23% year-over-year, primarily due to a reduction in bill settlements with suppliers[12] - Net cash flow from operating activities was ¥6,970,913.77, down 68.3% from ¥21,942,222.52 in the previous period[29] - Cash flow from investing activities generated a net inflow of ¥58,019,291.88, compared to a net outflow of ¥251,828,518.11 in the previous period[29] - Cash and cash equivalents at the end of the period totaled ¥80,824,019.10, down from ¥105,046,022.69 at the end of the previous period[30] - Cash and cash equivalents decreased to ¥86,800,655.34 from ¥108,808,330.03, reflecting a decline of approximately 20.2%[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,096, with the largest shareholder holding 46.23% of the shares[14] - The top 10 unrestricted shareholders hold a total of 56,000,000 shares, with the largest shareholder, Lü Xian, owning 12,852,000 shares, representing 6.35% of total shares[15] - Wang Shen, another significant shareholder, holds 5,265,910 shares, accounting for 2.60% of total shares[15] - The South China Xin Tai Private Fund Management Company, through its various funds, collectively holds 6,150,218 shares, which is approximately 3.04% of total shares[15] - The company has a total of 92,946,000 restricted shares held by Nie Zaijian, which will be released on August 10, 2025[19] - The total number of shares held by the top 10 unrestricted shareholders represents a significant portion of the company's equity, indicating strong institutional interest[15] - The company has seen a notable increase in the number of shares held by individual shareholders, with Li Dechun increasing his holdings to 2,880,000 shares[19] - The shareholder structure indicates a concentration of ownership, with the top three shareholders holding over 11% of the total shares[15] - The company has not reported any changes in the number of shares due to margin trading activities among the top shareholders[17] - The total number of shares held by Beijing Yi'an Capital Management Co., Ltd. is 1,731,779, representing 0.86% of total shares[17] - The company has a clear strategy for managing restricted shares, with specific release dates outlined for key executives[19] Governance and Strategy - The company completed the election of its fifth board of directors and supervisory board, ensuring continuity and stability in governance[21] - The company plans to expand its operational locations, with a new site at 101 Wutong 10th Road, Binbei District, Binzhou City[23] - The company has appointed Rongcheng Accounting Firm as its new external auditor for the 2024 fiscal year, following the termination of its previous auditor due to regulatory issues[24] - The board of directors held a meeting on October 30, 2024, to discuss future strategies[32] Accounting Standards and Reporting - The new accounting standards will be implemented starting from 2024, affecting the financial statements from the beginning of the year[31] - The company is preparing for the first-time execution of new accounting standards, which may impact financial reporting[31] - The third quarter report of Shandong Sanyuan Biotechnology Co., Ltd. has not been audited[32] - There are no specific performance summaries or user data provided in the documents[31][32] - No future outlook or performance guidance has been disclosed in the available content[31][32] - There is no mention of new product or technology development in the provided documents[31][32] - Market expansion or acquisition strategies are not detailed in the current reports[31][32] - The third quarter report does not include any financial metrics or performance indicators[31][32] - The documents do not provide any insights into new strategies being adopted by the company[31][32]