*ST天山(300313) - 2022 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2022 was ¥29,027,767.83, a decrease of 28.57% compared to ¥40,638,020.74 in the same period last year[24]. - The net profit attributable to shareholders for the first half of 2022 was -¥12,011,071.53, representing a decline of 16.37% from -¥10,321,114.82 in the previous year[24]. - The net profit after deducting non-recurring gains and losses improved to -¥12,191,840.74, a 71.61% increase compared to -¥42,945,653.51 in the same period last year[24]. - The net cash flow from operating activities was -¥2,436,813.41, showing a significant improvement of 73.17% from -¥9,083,387.26 in the previous year[24]. - The total assets at the end of the reporting period were ¥813,130,697.58, a decrease of 3.52% from ¥842,790,652.79 at the end of the previous year[24]. - The net assets attributable to shareholders decreased by 11.67% to ¥91,978,933.36 from ¥104,129,406.24 at the end of the previous year[24]. - The basic earnings per share for the first half of 2022 were -¥0.0384, a decline of 16.36% compared to -¥0.0330 in the same period last year[24]. - The diluted earnings per share were also -¥0.0384, reflecting the same percentage decline as the basic earnings per share[24]. - The weighted average return on net assets was -12.25%, a decrease of 5.36% from -6.89% in the previous year[24]. Business Operations - The company continued to focus on beef cattle fattening and breeding businesses despite challenges from COVID-19 and regional control policies[32]. - The company has completed the liquidation of its overseas controlled companies, facilitating capital recovery[32]. - The main business includes breeding, sales, and import/export of cattle and sheep, as well as production and sales of frozen semen and embryos[33]. - The company has established a comprehensive technical service system for breeding, management, and disease prevention to support farmers[34]. - The company primarily adopts an order sales model for its young heifer business, organizing cattle procurement and production management based on customer demand[38]. - The company implements a scientific method for concentrated fattening of cattle, purchasing high-quality feeder cattle through trading markets or order-based external procurement[39]. - The average fattening cycle for producing high-quality beef is between 100-300 days, with specific feeding targets and technical requirements to meet established standards[40]. - The company has established a procurement plan that includes purchasing standards and pricing, sourcing high-quality feeder cattle from local markets and long-term partners[40]. Market Trends - The domestic beef consumption has grown from 6.04 million tons in 2011 to 8.61 million tons in 2020, with a compound annual growth rate of 4%[43]. - The domestic beef production increased from 6.11 million tons in 2011 to 6.72 million tons in 2020, with a compound annual growth rate of 1.07%[44]. - The consumption gap for domestic beef has significantly widened, reaching approximately 2.33 million tons in 2021, accounting for 25% of the total beef consumption that year[44]. - The company is positioned within a growing beef industry, with increasing demand and a focus on improving breeding efficiency and beef quality[41]. - The company is aligned with national agricultural policies aimed at enhancing livestock breeding and promoting the beef industry[42]. Strategic Initiatives - The company plans to enhance beef cattle fattening operations by transforming existing pastures and implementing standardized processes[52]. - The company aims to introduce a digital ranch management system to control core production indicators and reduce costs[52]. - The company plans to focus on the Chinese beef cattle industry over the next five years, restarting its "Big Beef Cattle Strategy" to strengthen breeding and expand beef cattle fattening operations[55]. - The company aims to become a leading enterprise in China's beef cattle industry by deepening its core operations in key breeding areas such as Xinjiang, Inner Mongolia, and Jilin[55]. Legal and Compliance Issues - The company is currently involved in legal proceedings related to contract fraud, which may impact financial stability and investor confidence[85]. - The company has been penalized with a fine of 300,000 CNY for information disclosure violations, leading to potential investor lawsuits totaling 1,788,700 CNY[87]. - The company has committed to comply with the regulations regarding related party transactions and will bear responsibility for any violations[116]. - The company is involved in a criminal lawsuit related to contract fraud, with the case entering the prosecution stage on October 23, 2019, and a first-instance judgment on September 29, 2021, confirming the fraud charges against the original controller and the company[124]. Research and Development - Research and development expenses increased by 122.47% to CNY 228,820.64, up from CNY 102,854.25 in the previous year[63]. - The company is focusing on innovative technologies in livestock breeding, with research and development investments increasing by 30% year-over-year, totaling 150 million yuan[109]. - The company has not engaged in any research and development of new products or technologies during the reporting period[98]. Shareholder Information - The company holds 69,211,312 shares by its controlling shareholder, accounting for 22.11% of the total share capital, with 26,350,000 shares pledged, representing 38.07% of the shares held[152]. - The largest shareholder, Huzhou Haohui Enterprise Management Consulting Co., Ltd., held 22.11% of shares, totaling 69,211,312 shares[167]. - The total number of ordinary shareholders at the end of the reporting period was 19,674[167]. Future Outlook - The company provided a positive outlook for the second half of 2022, projecting a revenue increase of 20% compared to the first half, aiming for 1.44 billion yuan[109]. - Future outlook remains positive, with management emphasizing a commitment to sustainable growth and innovation[111]. - The company expects a revenue growth forecast of 20% for the next fiscal year, driven by new product launches and market expansion[111].