*ST天山(300313) - 2017 Q2 - 季度财报

Financial Performance - The company achieved a turnaround in performance for the first half of 2017, reporting a net profit of 1,679,663.25 yuan, marking a significant improvement compared to previous years[4]. - Total revenue for the first half of 2017 was ¥79,709,203.56, a decrease of 62.11% compared to ¥210,347,880.87 in the same period of 2016[22]. - Net profit attributable to shareholders was ¥1,679,663.25, representing a 105.24% increase from a loss of ¥29,927,719.31 in the previous year[22]. - The net cash flow from operating activities decreased by 71.52% to ¥21,435,384.36 from ¥75,269,781.75 in the same period last year[22]. - Basic and diluted earnings per share improved to ¥0.0085 from a loss of ¥0.1516, marking a 105.24% increase[22]. - The company reported a loss of 4.5 million yuan from its overseas subsidiary, which shifted its business model from livestock export to ranching[32]. - The company reported a net loss of CNY 122,320,903.92 in retained earnings, slightly improved from a loss of CNY 124,000,567.17[178]. - The company achieved a net profit of 1,679,663.25 CNY in the first half of 2017, marking a turnaround from previous losses[113]. Operational Strategy - The company plans to enhance its business by expanding the sales of self-produced frozen semen and actively exploring the imported frozen semen and sheep frozen semen markets[7]. - The company is working on establishing a complete beef industry chain, including breeding, fattening, slaughtering, and sales, to improve profitability and operational efficiency[7]. - The company is actively promoting the use of sex-sorted frozen semen to improve cattle breeding efficiency and herd expansion[16]. - The implementation of national livestock quality subsidy projects aims to enhance the quality of cattle breeds and increase production efficiency[16]. - The company aims to establish a complete industry chain from breeding to sales, enhancing its production scale and sustainable profitability[35]. - The company is implementing a full industry chain strategy in beef cattle, which includes breeding, fattening, slaughtering, and sales, to improve profitability and operational efficiency[102]. Risk Management - The company faces the risk of stock suspension due to consecutive losses in 2015 and 2016, with potential implications if the 2017 annual audit also shows a loss[4]. - The company is exposed to significant risks from animal diseases, which could severely impact production and operational capabilities[8]. - The company has implemented various measures to mitigate operational risks, including strengthening production management and controlling costs and expenses[7]. - The company is focused on risk management related to exchange rates, aiming to mitigate adverse impacts on overseas projects[108]. - The company is exposed to disease risks in livestock, which can significantly impact production and quality, but has established preventive measures and management practices to mitigate these risks[103]. Financial Position - Total assets at the end of the reporting period were ¥755,720,113.08, down 11.65% from ¥855,368,762.66 at the end of the previous year[22]. - Net assets attributable to shareholders decreased by 2.14% to ¥359,800,564.34 from ¥367,653,299.24 at the end of the previous year[22]. - Cash and cash equivalents decreased by 42.84% compared to the beginning of the period, primarily due to the acquisition of subsidiary equity[30]. - The company reported a significant decrease in sales expenses to ¥4,993,272.09 from ¥10,978,906.80, a decline of approximately 54.5% year-over-year[185]. - The ending balance of cash and cash equivalents decreased to 28,193,267.02 CNY from 133,602,828.50 CNY, highlighting liquidity challenges[195]. Investment and Acquisitions - The company has completed the acquisition of minority shareholder rights in its overseas subsidiary to gain full control over Mingjiah Agriculture[49]. - The company approved the acquisition of Australian assets for AUD 25.25 million, funded by excess and remaining raised funds of AUD 10.25 million, equivalent to approximately RMB 52.94 million[81]. - The company has acquired a 37.65% stake in Zhongao Derun Animal Husbandry Co., optimizing its management structure[98]. - The company plans to use AUD 14.6 million of raised funds to acquire a 37.65% stake in Zhongao Derun and to increase capital for its wholly-owned subsidiary Tianshan Holdings[150]. Market and Sales - The sales revenue from breeding livestock decreased by 94.46% due to the adjustment of the Australian company's business model to focus on proxy grazing[49]. - The sales volume of self-produced frozen semen increased by 46.8% year-on-year, with sales prices rising by 34.68%, leading to a revenue increase of 97.71%[56]. - Milk sales volume grew by 43.62% year-on-year, with sales revenue increasing by 45.67% and unit sales costs decreasing by 33.21%[51]. - The company aims to expand its market share in frozen semen and increase livestock sales through promotional activities during key holidays[99]. Compliance and Governance - The semi-annual report for 2017 has not been audited[123]. - The company has not reported any violations of commitments made to minority shareholders[122]. - The company has a commitment to not engage in any activities that harm its interests or those of its shareholders[121]. - The company has not disclosed any significant litigation matters during the reporting period[72]. - The company has no bankruptcy reorganization matters during the reporting period[124]. Assets and Land Use - The company holds land use rights for a total of 16,568 acres of grassland, valid until November 9, 2025[38]. - The company has a total of 425.7 acres of facility agricultural land with a lease valid until November 10, 2041[38]. - The company has a total of 8,495.85 acres of agricultural development land, valid until February 28, 2046[38]. - The company has a total of 150 acres of facility agricultural land with a lease valid until November 10, 2041[38]. - The company has a total of 250 acres of facility agricultural land with a lease valid until November 10, 2041[38].