OGI(SH:600811)2021-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥6,801,112,929.21, representing a 1.66% increase compared to ¥6,689,886,577.96 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 29.38% to ¥251,536,436.70 from ¥356,205,180.69 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥233,608,500.67, down 33.26% from ¥350,006,408.05 in the same period last year[23]. - The net cash flow from operating activities was ¥396,183,542.81, a significant recovery from a negative cash flow of ¥586,554,373.42 in the previous year[23]. - Basic earnings per share for the first half of 2021 were ¥0.0687, down 29.39% from ¥0.0973 in the same period last year[24]. - The weighted average return on net assets decreased by 0.50 percentage points to 1.18% from 1.68% in the previous year[24]. - The company achieved a total revenue of 6.784 billion CNY in the reporting period, with the agricultural product processing sales contributing 6.730 billion CNY, a decrease of 7.95% in rice processing sales due to weak consumption and lower retail prices[50]. - The net profit attributable to the parent company's shareholders was 252 million CNY, a decline of 29.38%, primarily due to decreased profits from the equity investment in Minsheng Bank and increased financial expenses from the subsidiary[50]. - The company reported a total profit for the first half of 2021 was CNY 264,453,278.95, compared to CNY 348,392,216.19 in the same period of 2020, reflecting a decrease of about 24.1%[151]. Assets and Liabilities - The total assets at the end of the reporting period were ¥46,142,691,195.88, a decrease of 1.61% from ¥46,895,791,760.79 at the end of the previous year[23]. - The total liabilities decreased from 25.51 billion to 24.50 billion, a reduction of approximately 4.2%[140]. - The total current assets rose from 7.28 billion to 10.86 billion, an increase of about 49.5%[144]. - The total equity attributable to shareholders increased from 21.12 billion to 21.37 billion, an increase of approximately 1.2%[140]. - The debt-to-asset ratio was 53.10%, a decrease of 1.31% compared to the end of the previous year[131]. - The total amount of restricted assets reached CNY 26.98 billion, with significant portions tied to various forms of collateral[63]. Cash Flow - The net cash flow from operating activities for the first half of 2021 was ¥211,121,460.08, a decrease of 49.6% compared to ¥417,722,815.22 in the same period of 2020[162]. - Cash inflow from financing activities was ¥1,469,300,031.86, a decrease of 62.5% from ¥3,915,000,000.00 in the same period last year[162]. - The net cash flow from financing activities was -¥530,361,208.04, an improvement from -¥786,756,094.96 in the previous year[162]. - The company reported a significant decrease in long-term borrowings by 32.13% to CNY 2.55 billion, reflecting adjustments in financial reporting[62]. Strategic Initiatives - The company has established a comprehensive rice processing and sales system, with 13,000 mu of land in the core production area of Wuchang for organic rice cultivation[30]. - The company has expanded its community group buying channels, covering 22 provinces and 4 municipalities, which is gradually replacing traditional supermarket sales[30]. - The company is actively exploring high-value-added areas in agricultural product processing, aiming to enhance its competitiveness in the health food sector[35]. - The company has established a strategic partnership with "Zhenrou," acquiring a 20% stake, aiming to develop the "Dongfang Zhenrou" brand for plant-based meat products[38]. - The company has signed a strategic cooperation framework agreement with Heilongjiang Supply and Marketing Group to enhance collaboration in corn trading, rice storage, logistics, and sales[57]. Research and Development - The company has developed 12 patents related to plant-based meat and launched 5 products in the first phase of production[35]. - The company holds three national patents for "full-fat stable rice bran" and is actively developing high-moisture plant-based meat products, achieving a moisture content of 65%, which is a national leading level[41]. - Research and development expenses amounted to CNY 682,475.84, reflecting the company's commitment to innovation despite overall profit decline[151]. Shareholder Information - The total number of ordinary shareholders reached 92,849 by the end of the reporting period[117]. - The largest shareholder, Tibet Dongfang Runlan Investment Co., Ltd., holds 608,854,587 shares, accounting for 16.39% of total shares[118]. - Tibet Dongfang Runlan Investment Co., Ltd. has pledged 485,680,385 shares[118]. - The company has not experienced any changes in its share capital structure during the reporting period[117]. Corporate Governance - The company held its 2021 Annual General Meeting on June 24, 2021, where 16 proposals were approved, including the 2020 financial report and profit distribution plan[82]. - The company announced the resignation of its President, Fang Hao, and the appointment of Sun Mingtao as the new President on February 4, 2021[84]. - The company has been actively adjusting its stock option incentive plan, with a total of 59.8 million stock options canceled due to unmet exercise conditions as of April 28, 2021[88]. Market Conditions - The company faced risks due to a soft rice sales market, with expectations for improvement only after the new rice harvest in Q4[74]. - The company anticipates continued weak price fluctuations for corn, with increased supply and reduced demand impacting market prices[74]. Compliance and Reporting - The company's financial statements were approved by the board of directors on August 30, 2021, ensuring compliance with regulatory requirements[182]. - The financial statements are prepared based on actual transactions and in accordance with the accounting standards issued by the Ministry of Finance[191].