*ST天山(300313) - 2023 Q2 - 季度财报(更正)

Financial Performance - The company achieved total operating revenue of 46.3225 million yuan, an increase of 59.58% year-on-year[15]. - The operating profit was -13.4891 million yuan, a year-on-year increase in loss of 16.34%[15]. - The total profit amounted to -12.1134 million yuan, with a year-on-year increase in loss of 3.12%[15]. - The net profit attributable to shareholders of the parent company was -13.137 million yuan, reflecting a year-on-year increase in loss of 9.37%[15]. - The company's operating revenue for the first half of 2023 was ¥46,322,494.61, representing a 59.58% increase compared to ¥29,027,767.83 in the same period last year[47]. - The net profit attributable to shareholders was -¥13,137,015.15, a decrease of 9.37% from -¥12,011,071.53 year-on-year[47]. - The net cash flow from operating activities was -¥11,860,704.65, reflecting a significant decline of 386.73% compared to -¥2,436,813.41 in the previous year[47]. - The operating costs increased by 70.26% to ¥43,633,045.26 from ¥25,626,778.38, reflecting the costs associated with the expanded beef cattle farming[108]. - The net cash flow from operating activities was -¥11,860,704.65, a decrease of 386.73% compared to -¥2,436,813.41, mainly due to increased inventory purchases and differing cash collection cycles[108]. Assets and Equity - As of June 30, 2023, total assets were 315.5853 million yuan, a decrease of 4.99% from the beginning of the year[15]. - Current assets decreased by 10.66%, while non-current assets decreased by 1.88%[15]. - Shareholders' equity attributable to the listed company was 71.1245 million yuan, down 15.59% from the beginning of the year[15]. - The total assets at the end of the reporting period were ¥315,585,297.38, down 4.99% from ¥332,145,607.55 at the end of the previous year[47]. - The net assets attributable to shareholders decreased by 15.59%, from ¥84,261,480.39 to ¥71,124,465.24[47]. Market and Pricing - The average price of fattening cattle in the first half of 2023 was 31.08 yuan/kg, a year-on-year decrease of 12.6%[36]. - The average price of fattening cattle in June 2023 dropped to 25.39 yuan/kg, the lowest since November 2017[36]. - The company’s milk revenue was CNY 982,241.79, with a gross margin of -105.99%[92]. - The revenue from live cattle sales was CNY 29,949,317.14, showing a decline of 4.31% year-on-year[92]. Business Strategy and Operations - The company plans not to distribute cash dividends or issue bonus shares[3]. - The company has initiated the establishment of a breeding engineering research center, which is expected to enhance its capabilities in frozen semen and breeding research[52]. - The company is focusing on optimizing resource allocation and revitalizing idle assets to increase annual operating income[62]. - The company has expanded its procurement and sales models to stabilize customer resources and enhance business scalability[53]. - The company aims to achieve an increase in revenue for the entire year by adjusting its management structure and focusing on core business development[76]. - The company is focused on enhancing its governance structure by incorporating industry professionals into its management team[76]. - The company is focused on expanding its agricultural development capabilities, as indicated by the acquisition of multiple land plots for agricultural use[85]. - The company is actively involved in the development of new agricultural technologies, as evidenced by its land acquisitions for agricultural development[86]. - The company has plans for future expansion in the agricultural sector, with multiple land plots acquired for development purposes[86]. Research and Development - The company achieved a 15% reduction in production costs through quality and yield improvement trials for frozen semen production[52]. - Research and development expenses rose by 101.55% to ¥461,185.97 from ¥228,820.64, primarily due to an increase in R&D personnel[108]. - The company has implemented new technologies in breeding, which have improved the fertility rate by 15%[161]. - Research and development expenses for the period amounted to 8 million CNY, focusing on genetic improvement technologies[175]. Challenges and Industry Context - The company faces significant barriers to large-scale beef cattle farming, including high capital requirements and a lack of skilled management personnel[102]. - The domestic beef consumption gap has increased significantly, reaching 269,000 tons in 2022, which accounts for 26% of the total beef consumption that year[122]. - The overall beef production in China has grown from 610.71 million tons in 2011 to 712.5 million tons in 2022, with a compound annual growth rate of approximately 1%[122]. - The company recognizes the importance of expanding live cattle breeding scale and implementing cost reduction and efficiency improvement strategies, focusing on beef cattle breeding business[150]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 14,649[195]. - The largest shareholder, Huzhou Haohui Enterprise Management Consulting Co., Ltd., holds 22.11% of shares, totaling 69,211,312 shares[195]. - Chen Dehong, a natural person, holds 11.91% of shares, totaling 37,279,083 shares[195]. - The state-owned enterprise Wuhu Huarong Yuwen holds 10.55% of shares, totaling 33,025,998 shares[195]. - The state-owned Investment Center (Limited Partnership) holds 4.36% of shares, totaling 13,631,462 shares[195]. - The state-owned Huarong Tianze Investment Co., Ltd. holds 3.62% of shares, totaling 11,335,123 shares[195]. - Liu Baiquan, a natural person, holds 2.69% of shares, totaling 8,424,390 shares[195]. - The total number of shares held by shareholders with special voting rights is 0[195]. - There are no changes in the shareholding of directors, supervisors, and senior management during the reporting period[196]. - The company does not have any differential voting rights arrangements[196].