YISHENG(SZ:002458)2020-08-27 16:00Financial Performance - The company's operating revenue for the reporting period was ¥998,851,220.50, a decrease of 30.94% compared to the same period last year[33]. - The net profit attributable to shareholders was ¥204,002,961.14, down 77.42% year-on-year[33]. - The net profit after deducting non-recurring gains and losses was ¥186,619,511.82, a decline of 79.48% compared to the previous year[33]. - The net cash flow from operating activities was ¥191,848,294.84, representing a decrease of 75.54% year-on-year[33]. - Basic earnings per share were ¥0.21, down 77.17% from ¥0.92 in the same period last year[33]. - Total assets at the end of the reporting period were ¥3,915,951,049.55, a decrease of 5.43% from the end of the previous year[33]. - The net assets attributable to shareholders were ¥3,330,363,334.39, down 7.51% compared to the previous year[33]. - The weighted average return on net assets was 5.93%, a decrease of 38.86% from 44.79% in the same period last year[33]. - The company achieved an operating income of approximately ¥998.85 million in the first half of 2020, a decrease of 30.94% compared to the same period last year[64]. - Operating costs increased by 46.68% to ¥739,710,455.53 from ¥504,317,003.98, attributed to a significant increase in product sales volume[71]. - The net profit of Beidahuang Baoquanling Agricultural Development Co., Ltd. was CNY 42,108,944.67, a year-on-year decrease of 68.58%, primarily due to a decline in chicken product sales prices[94]. Dividends and Shareholder Returns - The company plans to distribute cash dividends of 1 RMB per 10 shares to all shareholders, based on a total of 990,261,363 shares[15]. - The total cash dividend distributed was CNY 99,026,136.30, representing 100% of the profit distribution total[101]. - The company’s cash dividend per 10 shares is CNY 1.00 (including tax)[101]. - The company’s cash dividend distribution plan was approved by the board and complies with relevant procedures, ensuring no harm to shareholders' rights[101]. - The company’s available distributable profit was CNY 1,054,746,833.35[101]. Operational Strategy and Market Position - The company is the largest breeding chicken producer in China and has imported Hubbard breeding stock to reduce dependency on foreign sources, aiming to enhance its core competitiveness[9]. - The company aims to increase the market share of domestically bred chicken varieties to over 60% by 2025 as part of a national genetic improvement plan[6]. - The company is focused on expanding its breeding capabilities and enhancing the quality and efficiency of imported breeds[9]. - The company is actively developing customer relationships to stabilize product quality and meet market demands, addressing risks associated with price fluctuations in poultry products[10]. - The company emphasizes the importance of a flexible and competitive breeding industry structure to support sustainable growth in the poultry sector[9]. - The company operates in the livestock industry, focusing on breeding and sales of various poultry and swine products, including parent stock broilers and breeding pigs[44]. - The company is the largest breeder of grandparent white feather broiler chickens in China, leveraging over 30 years of experience to establish unique technological and research advantages[54]. - The company has expanded its breeding scale of white feather broiler chickens and is actively developing the pig breeding industry, with multiple new pig farms under construction[64]. Risk Management and Biosecurity - The company reported a significant reliance on foreign suppliers for breeding technology, which poses risks if these suppliers reduce or stop the supply of breeding chickens due to disease or other reasons[5]. - The company is committed to improving biosecurity measures to prevent disease outbreaks that could impact its operations[11]. - The company has established strategic partnerships with multiple large raw material suppliers to mitigate risks related to price volatility of key ingredients like corn and soybean meal[15]. - The company continues to prioritize the purification and control of vertically transmitted diseases as a key area of R&D investment[71]. - The company has implemented a disease purification strategy to enhance the quality of breeding chickens, focusing on eliminating specific poultry diseases[60]. Research and Development - The company has established a comprehensive technical system with multiple R&D departments focusing on disease control, nutrition, breeding, and waste treatment[71]. - The company is actively involved in a national key research and development project aimed at enhancing the efficiency and safety of broiler chicken farming[55]. - The company achieved a significant breakthrough in breeding technologies, maintaining high levels of antibody uniformity and survival rates in parent stock chickens[71]. - Research and development expenses rose by 178.97% to ¥20,138,466.13 from ¥7,218,871.61, reflecting increased capital expenditures in R&D[71]. Environmental and Social Responsibility - The company has invested in environmental technology, establishing facilities for biological fermentation to convert livestock waste into organic fertilizer, capable of processing 120,000 tons of manure annually[60]. - The company has implemented environmental protection measures, including the removal of coal-fired boilers and installation of natural gas and biomass boilers[144]. - The company donated nearly ¥11 million to support COVID-19 prevention efforts and provided various protective materials during the pandemic[64]. Shareholder Structure and Stock Options - The total number of shares increased to 990,261,363, with the proportion of restricted shares decreasing to 37.13%[153]. - Major shareholder Cao Jisheng held 41.25% of the shares, totaling 408,467,929 shares, with a pledge of 29,002,000 shares[163]. - The company implemented a stock option incentive plan to motivate key personnel, with specific conditions for the release of locked shares[159]. - The total number of shares held by the board members and senior management has seen significant increases, with notable increases in holdings by Guo Xinmin and Ji Yongmei[184]. - The adjustments to the stock option plan indicate a proactive approach to incentivizing employees and aligning their interests with shareholder value[155]. Legal and Compliance - The company has not undergone any major litigation or arbitration matters during the reporting period, indicating a stable legal environment[112]. - The company has not received any non-standard audit reports for the previous year, suggesting compliance with financial regulations[111]. - There are no significant penalties or rectification measures imposed on the company during the reporting period, highlighting its adherence to regulatory standards[117]. - The company is currently involved in ongoing litigation related to a loan dispute, with an amount in question of 5.27 million yuan, but it does not expect to bear significant liability[115].