MINHE(SZ:002234)2021-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,047,990,108.52, representing a 16.18% increase compared to CNY 902,052,532.62 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 26.78% to CNY 170,116,954.68 from CNY 232,326,381.45 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 164,510,521.46, down 29.66% from CNY 233,864,896.57 year-on-year[17]. - The net cash flow from operating activities increased by 13.75% to CNY 197,525,801.00 compared to CNY 173,649,122.44 in the same period last year[17]. - Basic earnings per share decreased by 29.87% to CNY 0.54 from CNY 0.77 in the same period last year[17]. - The weighted average return on equity was 5.88%, down from 8.14% in the previous year[17]. - The gross profit margin for the livestock industry was 30.16%, a decrease of 2.31% compared to the previous year[52]. - The total operating costs amounted to CNY 802,555,595.10, up 17.6% from CNY 682,263,477.35 year-on-year[139]. - The company's total equity attributable to shareholders reached ¥2,628,866,420.91, reflecting an increase from the previous period[150]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,854,112,211.43, a 15.99% increase from CNY 3,322,913,939.08 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company increased by 23.87% to CNY 3,248,233,953.90 from CNY 2,622,335,065.78 at the end of the previous year[17]. - Cash and cash equivalents at the end of the reporting period amounted to 841,036,827.00, representing 21.82% of total assets, a decrease of 0.61% compared to the previous year[57]. - Accounts receivable increased to 39,465,746.86, accounting for 1.02% of total assets, up by 0.20% due to an increase in sales receivables[57]. - Inventory stood at 377,499,977.53, which is 9.79% of total assets, showing a decrease of 1.49% from the previous year[57]. - Long-term equity investments were recorded at 307,660,218.48, making up 7.98% of total assets, down by 1.32%[57]. - Fixed assets totaled 1,241,018,216.55, representing 32.20% of total assets, a decrease of 5.67% compared to the previous year[57]. - Current liabilities decreased to CNY 498,195,053.87 from CNY 606,796,108.60, a reduction of 17.9%[136]. Investment and Financing Activities - The company completed a private placement of 46,913,580 shares, raising a total of RMB 570 million to support its cooked food and breeding projects[24]. - The company plans to issue convertible bonds to expand its broiler breeding and slaughter processing business, enhancing its profitability and risk resistance[24]. - The company reported a significant increase in investment activities cash flow, which decreased to -¥483,187,816.50, a 2,029.99% change due to increased financial investment expenditures[47]. - The company raised a total of CNY 569,999,997 through a private placement, with a net amount of CNY 560,469,997 after deducting related expenses[121]. - The cash outflow for investment activities was ¥650,925,768.02, significantly higher than the previous period's outflow of ¥244,096,500.37, indicating increased investment activity[149]. Business Operations - The company sold 166 million broiler chicks and over 30,000 tons of chicken products, maintaining stable production and sales[25]. - The company’s breeding capacity for broiler chicks exceeds 300 million, with plans to increase capacity by an additional 10 million chicks per year through new projects[30]. - The company is expanding into downstream processing of chicken products, with plans to add 60,000 tons of processed products, providing stable revenue[30]. - The company has established a comprehensive industrial chain from breeding to processing, aiming to enhance competitiveness by filling gaps in the downstream sector[30]. - The company operates a complete business chain centered on parent stock broiler chicken breeding and the production of commercial broiler chicks, with a focus on unified management and decentralized operations[36]. Risk Management - The company faces risks including disease prevention and control, product price fluctuations, and rising raw material costs[5]. - The company has implemented measures to mitigate risks from avian diseases and environmental regulations, ensuring compliance and operational stability[69]. - The company faces risks related to price fluctuations of raw materials and labor costs, which could adversely affect operational performance[68]. Corporate Governance and Compliance - The company has revised and improved its articles of association and information disclosure management system to enhance corporate governance and protect shareholder rights[81]. - The company has established a comprehensive quality control system in accordance with national food safety laws and regulations[70]. - The company has not faced significant adverse impacts from major diseases or natural disasters during the reporting period[41]. - There were no significant lawsuits or penalties reported during the reporting period, indicating stable operational compliance[91][92]. Research and Development - The company's research and development investment increased by 66.84% to ¥4,577,151.49, up from ¥2,743,488.01, reflecting a commitment to enhancing breeding and cooked chicken product development[47]. - Research and development expenses increased to CNY 4,577,151.49, up 66.9% from CNY 2,743,488.01 in the previous year[139]. Community Engagement - The company contributed a total of 180,000 RMB to local infrastructure projects and educational support for impoverished students during the reporting period[82]. - The company has actively supported local farmers through a "company + distributor + farmer" model, enhancing their income and confidence in the poultry industry[82].