Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
New Hope Liuhe Co., Ltd.
Semiannual Report 2023
2023-78
[August 31, 2023]
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Section 1 Important Note, Table of Contents and Definitions
The board of directors, board of supervisors, directors, supervisors and
senior executives of the company warrant that the contents of this semiannual
report are true, accurate and complete and free of any false recordings,
misleading statements or significant omissions, and that they will be jointly
and severally liable for the legal consequences.
The company’s board chairman Liu Chang, chief accountant Chen
Xingyao and the person in charge of accounting organization (accountant in
charge) Su Xiaodan state that the financial report in this semiannual report is
true, accurate and complete.
All directors of the company attended the board meeting deliberating this
semiannual report.
The company is required to comply with disclosure requirements set forth
in the Self-regulatory Guideline No.3 of Shenzhen Stock Exchange for Listed
Companies - Industry Information Disclosure with respect to “livestock, poultry
and aquaculture related businesses”.
I. Animal disease and natural disaster risks
Animal disease is the main risk faced in the development of livestock
industry. There are three kinds of risks arising out of the occurrence of
epidemic disease. First, the occurrence of epidemic disease is likely to result in
death of livestock, directly resulting in reduced yield, increased costs, and
lower prices. Second, the occurrence and prevalence of animal disease on a
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large scale easily influence the consumer psychology, leading to a contraction
in market demand, and also affecting the feed production and operation. For
example, the first outbreak of African Swine Fever in China in middle 2018
caused a huge shock to the whole industry. Although the industry initially
explored the prevention, control and treatment methods of comprehensive bio-
safety prevention and control combined with precise elimination in 2019 and
2020, ASF experienced a weakened mutation at the turn of winter and spring
between the end of 2020 and beginning of 2021, making it more spread
channels, longer incubation time, and more difficult to detect and eliminate. In
recent years, ASF has gradually become normal, especially in winter and early
spring when the temperature is low, the impact is particularly serious in the
north of China. Since 2022, avian influenza outbreaks have continued in
Europe, North America and South America, which have had a major impact
on poultry production and natural birds. Although the current round of avian
influenza epidemic has not been large-scale outbreak in China, it still affects
the introduction of grandparental breeding chickens in China.
In terms of the natural disaster risk, the feed and slaughter are closely related
to planting and livestock breeding industry. Therefore the natural disasters,
such as temperature anomalies, drought, flood, earthquake, hail, and snow
disaster will adversely affect the industry operation and development. Natural
disasters occurring in and around the company’s production facilites may
result in substantial damages to production infrastructure or equipment.
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Furthermore, natural disasters and extreme weather events can also drive up
prices for certain feed ingredients and meat. For example, in 2022, several
provinces in central and southwestern China experienced prolonged periods of
high temperatures and reduced rainfall, leading to the continuous development
of drought conditions in some regions. This, in turn, triggered power shortages
in multiple southern provinces, affecting various aspects of the industry chain,
including cultivation and livestock farming to varying degrees. In terms of
planting, certain areas affected by drought experienced reduced yields of
feedstock crops, thereby impacting feedstock prices, and the quality of the raw
materials also declined. In terms of livestock farming, for example,
aquaculture faced to oxygen deplention due to high temperature, which
affected the feeding and growth of fish, shrimps and crabs, and led to
production decrease. Additionally, due to the drought, water shortage and
power restriction, the use of breeding facilities and equipment was limited to a
certain extent, causing losses to livestock enterprises and farmers, and
affecting the feed sales of the company.
Risk countermeasures: in the face of animal disease, the livestock farms
planned and constructed by the company’s breeding base are normalized and
standardized farms staffed with professional breeding technologists and
equipped with strict anti-epidemic measures to effectively prevent and control
the occurrence of epidemic diseases. The company has also summarized
experience and measures responding to major animal diseases through years
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of exploration and accumulation, which allow the company to eliminates the
impact of various animal diseases by adjusting the product mix when
appropriate, improving the product quality, conducting deep market
development actively and reducing the costs. Since 2014, the company has been
guiding technicians to better serve farmers and staffs of self-run farms by
establishing animal healthcare laboratories in various areas, creating the
cloud-based animal healthcare system, and conducting the monitoring and
warning of animal diseases in real time. Regarding the ASF outbreak in 2018,
the company formulated comprehensive and systematic set of prevention and
control measures. These measures encompass various aspects, including the
company’s self-owned pig farms, cooperative fattening farms, pig feed
production plants, internal animal healthcare laboratories, with a view to
ensuring proper prevention and control at the source of animal nutrition.
Meanwhile, company actively participating in industry exchanges and
exploring more effective containment methods with peers allowed the
company’s bio-safety prevention system, pig survival rate and marketing rate
to achieve industry-leading levels. From the late 2020 to early 2021, the
outbreak of a new round of attenuated ASF in many northern provinces
brought new challenges to the approach formed in the industry on the basis of
the past prevention and control of ASF at the initial stage of the outbreak.
However, the company continues to summarize its experience during the
prevention and hazard control process, upgrading prevention and purificatiob
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methods, including dual antibody and dual screening in the whole group
serum, application of thermal imaging devices, and safe storage and
disinfection of materials. Additionally, it follows the principle of adding before
subtracting in the prevention and control procrss, avoiding prolonged and
overly complex control measures that may lead to fatigue and complancency.
This approact not only helps with effective preventation and control but also
facilitates a quicker returen to normal production and reduce the cost of
biosafety control. For the risk of avian influenza and other epidemics, the
company has established systematic prevention and control measures. The
company’s poultry breeding business has always adhered to strict biosafety
measures and provided cooperative farmers with “water quality testing”,
material line washing and other free services, as well as standardized
production process guidance in biosafety prevention and control, to ensure
long-term stable operation of production and operation.
In response to natural disasters, the company’s extensive domestic and
international business presence ensure that specific regions experiencing
natural disasters do not have a significant impact on the overall operation of
the company. Especially concerning the frequent occurrence of rainstorm and
flooding in southern China the company has accumulated a large wealth of
experience in recnet years. It has established mature emergrancy response
plans and maintains sufficient flood prevention supplies in stock year-round,
which allow the company to flexibly guide farmers through production plan
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adjustments when the flood season begins in preparation for disaster relief
together. At the same time, the company can also take the advantage of its
nationwide presence to allocate funds, raw materials, equipment, and staff
timely and effectively to resume production as soon as possible and reduce the
losses caused by natural disasters. In response to natural disasters such as
heavy rains and floods occurred frequently in southern China in recent years
and the sudden drought in southwest China in 2022, the company has actively
established emergency plans, stored sufficient response materials in advance,
and flexibly guided farmers to adjust their production plans, so as to achieve
disaster mitigation and relief at the same time.
II. Risk of price fluctuations of feed ingredients
The cost of main feed ingredients for feed production accounts for more
than 90% of total cost of feed production. In the past, the proportion of feed
business in the company’s revenue was large, but as the feed industry generally
adopts the cost-plus pricing method, the fluctuations in prices of feed
ingredients can be partly transmitted to the downstream breeding operations,
to relieve the pressure from the rising prices of feed ingredients. However, with
a growing percentage of livestock breeding business in the company’s revenue,
the rising prices of feed ingredients will have a growing impact on the company.
Since 2020, due to various factors such as the macroeconomic situation at
home and abroad, international trade relations, and crop yield in main grain-
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producing areas of various countries, the prices of main feed ingredients such
as corn and soybean meal continuously rose. The outbreak of international
geopolitical conflict in early 2022 further pushed up global agriculture
commodity price. Moreover, considering the background of longtime existence
of ASF in China, the feed enterprises will reduce some high-risk feed
ingredients for the safety of animal nutrition, such as usage of corn, pig blood,
and pig bone meal, so as to make the demand for raw materials concentrate on
other types of raw materials, which will also lead to rise in prices of such
alternative raw materials. In the first half of 2023, the global price of main feed
raw materials fluctuated continuously in the overall downward trend (as
shown in the figure below), which also increased the difficulty of procurement.
Corn and Soybean Meal Prices since 2021 (yuan/kg)
——22 Provinces: Average price of ——22 Provinces: Average price of soybean meal
corn
Risk countermeasures: the company is the largest feed enterprise in China,
with scale advantages and a considerable bargaining power in the raw material
procurement. Since 2020, the company applied hedging tools more to control
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the ingredient price fluctuation risk. In 2021, the company further reinforced
centralized management of raw material procurement across the industry and
reduced feed use cost through processing in bonded zones and other methods.
In 2022, the company actively purchased imported low-price ingredients and
alternative ingredients such as wheat, sorghum and brown rice to continually
optimize ingredient costs. Now, the company has established strategic
partnerships with many domestic and overseas best-run raw material suppliers,
while actively exploring domestic and foreign high-quality and safe local raw
materials and opening up the raw material supply network at home and
abroad, conducted the supply chain financing of various forms actively, and
optimized its purchasing cost and related financial expenses.
III. Risk of price fluctuations of livestock and poultry
The finished products of livestock and poultry breeding business of the
company mainly include breeding pig, piglet, hog, baby chick, baby duck,
white feather broiler and white feather duck. In recent years, the pig farming
business of the company has been growing rapidly, with 14.61 million hogs sold
and more than 390 million self-raised and outsourced commercial chicken and
ducks in 2022, which allowed the livestock and poultry breeding to contribute
greater to the entire revenue and profits of the company. Along with the
further growth of breeding volume of the company in the future, the prices of
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livestock and poultry will affect the levels of revenue and profits of the
company even more remarkably.
In the first half of 2023, the domestic livestock and poultry market was
hovering at the bottom. In terms of pig business, domestic pig prices have
continued to fall since the beginning of the year and were below 15 yuan /kg
for most of the first half of the year (as shown in the figure below).
Pig Price since 2021 (yuan/kg)
22 Provinces: Average price of pig
In terms of poultry business, in the first quarter of 2023, due to the
mismatch between supply and demand caused by macro-policy adjustment, it
experienced a short-term price rebound. The price of raw white feather broiler
and raw white feather duck recovered quickly from the trough to about 11
yuan/kg at the highest. In the second quarter, the industry output gradually
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recovered, and affected by external macro factors, the price of chicken and
duck began to fall to about 8.6 yuan/kg at the lowest. (As shown in the figure
below)
White-feather Chicken/Duck Price since 2021 (yuan/kg)
——Average price of production area: white-feather chicken ——Weifang, Shsandong, average price: duck
Risk countermeasures: the process of livestock and poultry prices going
down itself is a process of the survival of the fittest in the industry. When some
participants withdraw, the total supply declines and the prices rise again,
survived businesses are likely to gain a greater market share and a higher
return on investment than before. In recent years, the company has fully
entered the stage of robust operation in pig business, and is gradually
improving its business operation efficiency, reducing farming costs and
restoring its original competitiveness by enhancing its internal management
capabilities in many ways. On the other hand, unlike most of agricultural and
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livestock companies, the company has slaughtering and food processing
business at the downstream part of farming and feed business at the upstream
part of farming, which happens to hedge against the farming process. The
price decline of livestock and poultry means that the cost of raw meat in the
slaughtering and processing businesses falls too and its profit margin will be
increased; the declining prices of livestock and poultry also mean the farming
volume of livestock and poultry is at high levels, which also helps increase the
profitability of feed business. Such an industry chain presence can moderately
mitigate the effects of declining prices of livestock and poultry on the company.
IV. Impact of environmental protection policies
In recent years, the government and society have increasingly attached
importance to environmental protection, and relevant laws and regulations
have been continuously introduced. Since 2014, China has adopted the
Regulations on Pollution Prevention and Control of Large-scale Livestock and
Poultry Farming; in 2015, the new Environmental Protection Law came into
effect; in 2016, the State Council issued the 13th Five-Year Plan for Ecological
and Environmental Protection. Since 2018, the central environmental
protection inspectors have conducted several “follow-up reexaminations”, as
the efforts to investigate pollution caused by livestock farms were strengthened
across the country, ordering some breeding households to shut down for
environmental remediation or close once for all due to their livestock farming
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facilities failing to meet the environmental standards or discharging
wastewater beyond the set standards. In 2020, in the context of the sharp
shortage of domestic hog supply caused by ASF, local governments have
gradually relaxed the environmental protection requirements for farm
construction to promote the resumption of hog production to ensure supply.
However, after 2021, as the hog production capacity gradually recovered to the
normal range, the environmental protection policies related to breeding
returned to a more stringent situation. These pressures from the
environmental protection policies will force some livestock and poultry farms
failing to meet the environmental standards out of the market, and lead to
reduced breeding quantities, which will have a certain impact on the
company’s feed business growth and its acquisition of hogs and poultry for
slaughtering business and will increase the cost of the company’s investment in
the construction of breeding capacity. In the long run, however, the
withdrawal of backward production capacity that does not meet the
environmental standards will allow the qualified producers that remain in the
industry to acquire higher profitability, which is still of a positive significance
to the entire industry.
Risk countermeasures: in light of the changes in livestock breeding
market, on the one hand, the company makes every effort to maintain
production capacity, and strengthens its cooperation with medium and large-
sized farms and farmers that meet the environmental standards by changing
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its feed marketing model and utilizing its industrialized supporting and
integrated services. In the process of exploring a new breeding model, the
primary considerations in project design of the company are ecology,
environmental protection, efficiency, and safety. By helping farmers remodel
and build sheds and stalls that meet the higher environmental standards,
increase the profitability of breeding business, and actively drive the domestic
livestock and poultry farming industry to grow healthily. On the other hand,
the company actively grows its inventories by cultivating new livestock and
poultry farming bases in areas with environmental conditions through
construction, acquisition, joint venture, and cooperation using its existing
business portfolio across the country, thus ensuring the stability of its breeding
resources.
V. Risk of food safety
Food safety concerns the public’s health and life safety and it is even a
matter of life and death for food enterprises. The implementation of the
revised Food Safety Law in 2015 also means that China has brought its focus
on food safety to an unprecedented level. The outbreak of ASF in 2018 raised
even more demanding requirements for food safety control, and more costs
need to be invested in ASF prevention and control in the process of pig
recycling and slaughter, pork transportation and vendition. In 2019, the State
Council issued the Opinions on Deepening Reforms and Strengthening Food
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Safety Efforts, which clearly porposed to use strictest standards, the strictest
supervision, the most severe punishment, and the most serious accountability
to further strengthen food safety regulation and ensure the “safety on the
dining table” of the public.
Risk countermeasures: the company has always been highly concerned
about food safety by seriously ensuring food safety in every link of production
and operation. In 2015, the company established Safety and Environmental
Protection Department to ensure safety, health, and environmental protection.
In 2022, the company further separated the Food Safety and Quality
Management Department from the Safety and Environmental Protection
Department to focus more on food safety-related work. The company has
established its food safety management system and safety traceability system
for the entire industrial chain from feed, breeding, farming to food. Carry out
the whole process of safety supervision from the front end of the supply chain
to the terminal,, forming the three-level safety and quality management system
and the three-level safety and quality audit system including Food Safety and
Quality Management Department of the headquarters, Food Safety
Management Line of BUs and Safety and Quality Department of branch
companies and subsidiaries.
The company has improved its level of food safety related work by
participating in international cooperation and passing the relevant industry
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standards certification. In 2016, the company passed the food technical
standard certification issued by the British Retail Council (BRC) and was
elected the Vice President of the China Council of the Global Food Safety
Initiative (GFSI), becoming the first Chinese private enterprise to be selected
as a member of the global board of directors of GFSI. At present, all food
businesses of the company have passed China-HACCP certification, and more
than 60 food companies are completing the BRC and Global-GAP
certifications in succession. In addition, the company systematically explores
the antibiotic-reducing and antibiotic-free possibilities in cooperation with
multiple parties using the GFSI platform resources, and actively drives the
popularization of antibiotic-reducing and antibiotic-free successful cases. In
recent years, the company’s achievements in the field of food safety and quality
management have been fully recognized by the industry. It has been awarded
the title of “2021-2022 Food Safety Integrity Unit” by China Food Safety
Conference, “2022 Annual Quality Golden Shield Case” by China Quality
Press, “Model Unit in China Meat Food Safety Integrity System Construction”
by China Meat Association, and “2022 Food Safety Science and Technology
Innovation Award” by China Animal Health and Food Safety Alliance.
VI. Risk of exchange rate fluctuations
Currently, the globalization of raw material procurement for feed
production is improved sharply, and the feed enterprises have been
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increasingly affected by the exchange rate in terms of feed ingredients
purchasing centered on foreign supply such as corn, soybean, whey powder,
fish meal and DDGS. At the same time, as the company expands its presence
abroad, in the foreign investment and overseas operations, the cross-border
capital transaction and settlement amounts involved are growing, thus making
the company more vulnerable to exchange rate fluctuations. In recent years,
due to the impact of factors such as geopolitics and foreign exchange policy
adjustments, the currencies of some host countries where the company
operates experienced extraordinary fluctuations, and the exchange rate of
these currencies against the US dollar has dropped sharply, combined with the
trend of US dollar interest rate increase, which poses a great challenge to
foreign exchange management and operational difficulties of the company.
Risk countermeasures: in response to the growing needs for overseas raw
material procurement and investment and operation, the company has been
building Singaporean branch into an overseas commercial and trading center
and investment and financing center, actively conducted international
centralized procurement of raw materials, foreign direct financing, supply
chain finance, foreign exchange risk management, funds management and raw
materials purchasing risk management to reduce the impact of exchange rate
fluctuations on its cash flow in overseas operations. In the context of the
increasing uncertainty in the macro environment and sharp exchange rate
fluctuations in recent years, the company has reinforced efforts to improve the
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ability of exchange rate forecasting and fund management, continued to pay
attention to the dynamics of the Federal Reserve’s interest rate hike, and
guaranteed the value of funds through hedging and other means and tools.
Meanwhile, the company further strengthened its close connection and
communication with overseas financial institutions, overseas agencies of the
Chinese government and host governments to analyze the trends of local
currency exchange rates in host countries from time to time, make financial
arrangements and ease the adverse impact of exchange rate fluctuations by
means of direct investment in local currency abroad, etc.
The company plans not to distribute cash dividends or allot bonus shares
or transfer its provident fund to share capital.
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Table of Contents
Section 1 Important Note, Table of Contents and Definitions .......................................................2
Section 2 Company Profile and Key Financial Indicators ........................................................... 22
Section 3 Management Discussion and Analysis ...........................................................................25
Section 4 Corporate Governance ....................................................................................................60
Section 5 Environmental and Social Responsibilities ................................................................... 64
Section 6 Important Matters .........................................................................................................171
Section 7 Changes in Shares and Information about Shareholders ..........................................220
Section 8 Details Related to Preferred Shares .............................................................................227
Section 9 Details Related to Bonds ............................................................................................... 228
Section 10 Financial Report .......................................................................................................... 233
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List of Reference Documents
(I) Financial statements bearing the signatures and seals of the CEO, person in charge of accounting and the person in charge of
accounting organization (chief accountant) of the company.
(II) Originals of all corporate documents and manuscripts of announcements publicly disclosed on China Securities Journal,
Securities Times, Shanghai Securities News, Securities Daily and cninfo.com during the reporting period.
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Definitions
Term Refers to Definition
The company, company, listed company, New
Refers to New Hope Liuhe Co., Ltd.
Hope
CSRC Refers to China Securities Regulatory Commission
SZSE Refers to Shenzhen Stock Exchange
CSDC Refers to China Securities Depository and Clearing Co., Ltd.
Company Law Refers to Company Law of the People’s Republic of China
New Hope Group Refers to New Hope Group Co., Ltd.
South Hope Refers to South Hope Industrial Co., Ltd.
China Minsheng Bank Refers to China Minsheng Bank
New Hope Chemical Refers to New Hope Chemical Investment Co., Ltd.
Finance company Refers to New Hope Finance Co., Ltd.
Liuhe Group Refers to Shandong New Hope Liuhe Group Co., Ltd.
Restricted Stock and Stock Option Incentive Plan
Refers to Incentive Plan 2019
2019
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Section 2 Company Profile and Key Financial Indicators
I. Company Information
Stock abbreviation New Hope Stock code 000876
Stock exchange on which
Shenzhen Stock Exchange
stock is listed
Chinese name of the company New Hope Liuhe Co., Ltd.
Chinese abbreviation of the
新希望
company (if any)
English name of the company
NEW HOPE LIUHE CO., LTD.
(if any)
English abbreviation of the
NEW HOPE
company (if any)
Legal representative of the
Liu Chang
company
II. Contact persons and contact details
Board secretary Securities affairs representative
Name Lan Jia Bai Xubo
11F, Block T3A, Wangjing SOHO
11F, Block T3A, Wangjing SOHO Center, No. 10,
Contract address Center, No. 10, Wangjing Street,
Wangjing Street, Chaoyang District, Beijing
Chaoyang District, Beijing
Tel. (010) 53299899-7666 (010) 53299899-7666 (028) 85950011
Fax (010) 53299898 (010) 53299898
Email 000876@newhope.cn baixb@newhope.cn
III. Other details
1. Contact information of the company
Whether the company’s registered address, office address, post code, website and email address have been changed during the
reporting period
□applicable not applicable
There is no change in the company’s registered address, office address, post code, website or email address during the reporting
period, refer to 2022 annual report for details.
2. Information disclosure and filing place
Whether the information disclosure and filing place have been changed during the reporting period
□applicable not applicable
There is no change in the name and website of the stock exchange and media where the company’s semiannual report is disclosed,
or the filing place of the company’s semiannual report during the reporting period, refer to 2022 annual report for details.
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3. Other relevant information
Whether other relevant information have been changed during the reporting period
□applicable not applicable
IV. Key accounting data and financial indicators
Whether the company needs to retroactively adjust or restate the accounting data of previous years
□yes no
Increase or decrease in this
The same period of the reporting period from the
This reporting period
previous year same period of the previous
year
Business revenue (yuan) 69,452,880,446.14 62,329,531,076.64 11.43%
Net profits attributable to
shareholders of the listed company -2,982,653,024.87 -4,139,743,764.00 27.95%
(yuan)
Net profits attributable to
shareholders of the listed company
-2,991,907,613.69 -3,679,945,484.62 18.70%
after deduction of non-recurring
profit or loss (yuan)
Net cash flows from operating
1,982,054,648.14 -1,133,527,154.46 274.86%
activities (yuan)
Basic earnings per share
-0.67 -0.93 27.96%
(yuan/share)
Diluted earnings per share
-0.67 -0.93 27.96%
(yuan/share)
An increase of 3.81 percent
Weighted average ROE -11.56% -15.37%
points
Increase or decrease at the
End of this reporting end of this reporting period
End of the previous year
period from the end of the previous
year
Total assets (yuan) 135,130,799,934.87 136,678,788,974.93 -1.13%
Net assets attributable to
shareholders of the listed company 25,292,225,827.74 29,243,764,658.37 -13.51%
(yuan)
V. Differences in accounting data under domestic and overseas accounting standards
1. Differences between the net profit and net assets disclosed in accordance with international accounting
standards and Chinese accounting standards in the financial report
□applicable not applicable
The company had no difference in net profits and net assets in financial reports disclosed under either international accounting
standards and Chinese accounting standards during the reporting period.
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2. Difference in net profits and net assets in financial reports disclosed under both overseas accounting
standards and Chinese accounting standards
□applicable not applicable
The company had no difference in net profits and net assets in financial reports disclosed under either overseas accounting
standards and Chinese accounting standards during the reporting period.
VI. Items and amounts of non-recurring profit or loss
applicable □not applicable
Unit: yuan
Item Amount
Profit or loss from disposal of non-current assets (including the charged-
-149,861,921.05
off portion of the accrued provision for asset impairment)
Government subsidies included in current profit or loss (excluding
government subsidies which are closely related to the business
132,933,084.35
operations of the company and consistently granted according to certain
standard quota or ration in compliance with national policies)
Profit or loss from change in fair value of trading financial assets and
trading financial liabilities held, and investment income from disposal of
held-for-trading financial assets, held-for-trading financial liabilities and -10,251,616.44
available-for-sale financial assets, except for effective hedging
transactions related to normal business operations of the company
Reversal of impairment provision for receivables subject to separate
17,488,973.85
impairment test
Other profit or loss items that conform to the definition of non-recurring
-11,413,392.26
profit or loss
Minus: effect of income tax 7,982,936.28
Effect of minority interests (after tax) -38,342,396.65
Total 9,254,588.82
Details of other profit or loss items that conform to the definition of non-recurring profit or loss:
□applicable not applicable
The company has no other profit or loss items that conform to the definition of non-recurring profit or loss.
Description of non-recurring profit or loss items enumerated in the Explanatory Announcement No. 1 on Information Disclosure
for Companies Offering their Securities to the Public– Non-recurring Profit or Loss classified as recurring profit or loss items
□applicable not applicable
The company has no non-recurring profit or loss items enumerated in the Explanatory Announcement No. 1 on Information
Disclosure for Companies Offering their Securities to the Public– Non-recurring Profit or Loss classified as recurring profit or
loss items.
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Section 3 Management Discussion and Analysis
III. Analysis of Main Businesses
Overview
The challenges facing the domestic agriculture and animal husbandry industry in 2023 are still huge. On the one hand, after
the adjustment of macroeconomic policies at the beginning of the year, market consumption began to recover, but the overall trend
of the macro economy is still under pressure, and the recovery of consumption falls short of expectations to a certain extent. On
the other hand, the supply ascpect, in the second half of last year the short-term higher-than-expected pig and poultry prices
objectively slowed the pace of capacity reduction. Meanwhile, the feed raw material prices in the first half of the year declined, so
that this year’s feed industry is relatively promising, but pig prices began to fall from the beginning of the year and remained low
in the first half of the year, which also indirectly led to the poultry industry market in the first half of the first rose and then fell. In
the face of these challenges, the company sticked to its strategy, steadily promoted the transformation of operation management,
consolidated the management foundation, continuously improved efficiency and cost reduction, and improved profitability; while
ensures production and operation, also actively carries out strategic cooperation, revitalizes existing assets, raises financing
flexibly through multiple channels, manages and controlled funds, and continuously optimized the organizational system. With the
joint efforts of all parties, the scale of business operations in the first half of 2023 continued to grow, while also achieving
significant year-on-year loss reduction. During the reporting period, the company reported business revenue of 69.453 billion yuan,
an increase of 7.123 billion yuan or 11% year-on-year; and net profit attributable to shareholders of the listed company of -2.983
billion yuan, a year-on-year loss reduction of 1.157 billion yuan or margin of loss reduction of 27.95%.
(I) Feed business
The feed business is one of the core pillars of the company. In the first half of 2023, pig production capacity slowly declined
from a high level, but meat and poultry production capacity increased to a high level, making the overall amount of feed at a high
level, with feed consumption also higher than the same period last year. At the same time, the raw material market was mainly
down, which helped to improve the profit of feed. The company’s feed business also achieved increase in both sales and profit.
1. Customer service and key customer development: since the launch of the “breeding support” mode for pig farmers last year,
the company continued to upgrade the mode iteratively in the first half of this year to provide comprehensive solutions. In
response to the market background of low pig prices again during the year, the company carried out the promotion of “extreme
meat cost” package to help farmers control the cost of fattening pigs; actively linked with the company’s pig business, and helped
large-scale farm customers to carry out breeding technology training; and explored the combination with pig insurance scheme to
reduce the risk of customer losses. In terms of key customer development, the company further improved the key customer
resource map, established or upgraded cooperative relations with a number of well-known agricultural and animal husbandry
enterprises, strengthened resource sharing, channel sharing and cooperation in the upstream and downstream industry chain, and
achieved a 37% year-on-year increase in domestic feed key customer sales. In terms of customer value management and full life
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cycle management, the cultivation map is built to form cross-field collaboration for “supply, research, production, service and
marketing” of feed industry chain.
2. Product research and development: the company continued to optimize the NHF Hongtong feed formula system with
independent intellectual property rights, which was fully launched last year, and optimized the formula cost through three aspects
of technology research and development, technical operation and digital nutrition, optimizing the domestic feed formula cost by 18
yuan/ton in the first half of the year. In addition, the product system was sorted out at the company level, focusing on the pain
points of each kind of product and continuing to promote basic research projects for the R&D and iteration of 20 hit products such
as suckling pig feed, high-grade duck feed, shrimp and crab feed, and calf feed to improve the terminal performance and promote
sales growth.
3. Raw material procurement: the company continued to strengthen the centralized procurement of bulk raw materials
through the supply chain system and signed strategic cooperation agreements with a number of large suppliers, reporting a
sustained average centralized procurement rate of the headquarters above 75% in the first half of the year, an increase of 8 percent
points over the previous year, which was increased to more than 80% in the second quarter. However, in terms of local raw
materials, the company also fully encourages front-line business units to carry out survey on nearby raw materials to form a map
of value raw materials, and actively purchase and make full use of nearby raw materials. In addition, in the first half of the year,
the company also built a five-day position management system at the district level, timely sorting out and analyzing the
procurement, inventory, in-transit and good use of each district, and maintained internal and external benchmarking and district
ranking, to help improve the backward area. The company also set up a special team to strengthen the quality management of raw
material procurement, assign special port personnel to monitor imported raw materials, develop special storage plans, strengthen
supplier inspection and quality commitment management, as well as the withdrawal of unqualified suppliers, to achieve the source
control of quality management and forward quality control.
4. Lean manufacturing: in recent years, the company has gradually developed and exported 12 systems and 138 standards
covering lean production, quality management, safety production, etc., in the field of lean manufacturing, and the focus of work
has gradually shifted to the implementation link. In the first half of the year, the company organized relevant departments in the
middle office of the feed business to go deep into the front line, carried out joint inspection, systematically sorted out problems
such as improving efficiency and reducing costs, stabilizing quality, and reducing losses, formed improvement lists, organized
monthly “review” meetings, and timely reviewed the standard implementation and cost improvement and other situations. In the
first half of the year, the average production cost per ton in the domestic feed business decreased by 4% year-on-year.
During the reporting period, the company sold 14.10 million tons of various feed products, 0.67 million tons more or 5% up
year-on-year; 10.28 million tons of feeds were sold externally, 3% up year-on-year. Among them, 5.62 million tons of pig feed
were sold, 16% up year-on-year, and external sales of pig feed amounted to 2.98 million tons, 13% up year-on-year; 7.43 million
tons of poultry feed were sold, 2% down year-on-year, and external sales of poultry feed amounted to 6.29 million tons, flat year-
on-year; 0.72 million tons of aquatic feed were sold, 3% down year-on-year; and the company reported business revenue of 39.152
billion yuan, 3.114 billion yuan more or 9% up year-on-year.
(II) White feather poultry business
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The white feather poultry business is an important cornerstone of the company’s business growth and an important part of the
company’s extension towards the downstream food business. In the first half of 2023, due to the mismatch between supply and
demand caused by macro-policy adjustment, the domestic white feather poultry market prices fluctuated wildly after rising and
then falling. The company continued to adhere to lean production internally, continuously improve the production efficiency of all
links, and strengthen cost control and capacity adjustment; externally, relying on key customer channels and advantageous items,
the company increased investment in e-commerce, fresh sales and fresh distribution and other fields, strengthening market
expansion, and achieving a turnaround in the first half of the year.
1. Breeding efficiency: the company continued to strengthen the management of breeding links, improve the breeding
capacity and bio-safety level. In the first half of the year, the European index of white feather broilers self-rearing increased by
20%, the average cost decreased by 0.37 yuan per chicken, the survival rate increased by 5 percent points, and the feed/meat ratio
decreased by 0.07; the European index of white feather duck self-rearing increased by 8%, the average cost decreased by 0.26
yuan per duck, and the feed/meat ratio decreased by 0.07.
2. Key customer maintenance: the company put efforts in intensive maintenance of the key customer base formed in the early
stage, on the one hand, to strengthen the promotion of more diverse products to the same type of customers, for instance, further
introduction of duck blood products to key hot pot customers attracted by duck intestines products; on the other hand, to develop
differentiated products for the sales of the same category products to different types of customers, take duck intestines category
products for instance, emphasis on sales of prepared duck intestines to key hot pot customers, and molded duck intestines to key
marinated chain retail customers.
3. By-product sales: in the first half of 2023, the sales of duck intestine products reached 175 million yuan, an increase of
13% year-on-year; introduction of duck blood products to key hot pot customers grew rapidly, with sales reaching 47 tons in the
first half of the year, an increase of nearly 8 times compared with the annual sales in 2022, and exported to Hong Kong and Macao
and foreign markets such as Japan, South Korea and Malaysia.
During the reporting period, the company sold a total of 277.76 million baby chickens and baby ducks, 0.64 million less year-
on-year, basically the same as the same period of the previous year; 180.09 million commercial chickens and ducks were sold,
15.75 million less or 8% down year-on-year; 302.97 million chickens and ducks were slaughtered, 19.73 million less or 9% down
year-on-year; 0.7950 million tons of chicken and duck meats were sold, 6,900 tons less or 1% down year-on-year; and the
company reported business revenue of 9.654 billion yuan, 1.364 billion yuan more or 16% up year-on-year.
(III) Pig farming business
Pig farming business is the core business that has the greatest impact to the company. In the first half of 2023, pig prices
continued to be under pressure, pig supply continued to be high, and consumption recovery was lower than expected, resulting in
pig prices at a level lower than the average cost line of the industry, so that the whole industry was under greater loss pressure.
Despite the continued downturn in the market, the company’s pig business reported effective improvement in breeding cost
through continuous strengthening of internal management and improving of production indicators. In the first half of the year, with
significant increase in pig outputs, a substantial reduction in losses was achieved.
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1. Production management: in the first half of 2023, along with the normal prevention and control and disposal of ASF, the
company continued to strengthen the production management of each link, continued to optimize and improve the production and
operation process of each link, and strengthened the training and enabling of front-line units, and repeatedly organized the front-
line unit comprehensive inspection led by company executives and participated in by multiple middle office departments to find
and solve problems on the spot. The company focuses on the management of reserve pigs and the improvement of the quality of
weaned piglets in the breeding link, focuses on the construction of in-house fattening system and the full load of in-house fattening
farms in the fattening link, and strengthens the linkage with the feed business to seize the opportunity of the declining price of feed
raw materials to optimize the feed formula in time. Although the ASF in the north in the first quarter brought a certain disturbance
to the production performance, after entering the second quarter, all aspects of the production indicators rushed back to the right
track and continued to optimize and achieved varying degrees of improvement or promotion compared with the fourth quarter of
last year. At the end of the first half of the year, the non-productive days of sows fell to 32 days, 3 days shorter than the fourth
quarter of last year; the average weaned piglet per litter increased to 10.8, an increase of 0.4 from the fourth quarter of last year;
more than 23 PSY; weaning cost dropped to 370 yuan/pig, down 30 yuan/pig from the fourth quarter of last year; the survival rate
of fattening pigs was close to 90%; the ratio of feed to meat decreased to 2.74, down 0.13 from the fourth quarter of last year.
2. Digital construction: the company is firmly advancing on the road of digital and intelligent pig breeding, taking pilot pig
farms as experimental stations and test grounds for key equipment intelligence and business scenario data, while focusing on the
practicability and reproducibility of the result output, and realizing the iteration of standards and the exploration of practical
implementation. In the first half of 2023, the company set up 28 research topics in eight aspects, including breeding pigs, biosafety,
nutrition, veterinary medicine, materials, environmental protection, plant equipment management, and personnel management, to
solve front-line drawback and increase effective use, and promoted them in an orderly manner. Following the completion of the
promotion and coverage of the planning operation management system in the parental generation farm line last year, the company
also gradually promoted the launch of planning operation management system of the fattening link in the first half of this year; at
the same time, the module functions of piglet transfer, fattening pig weight management, material tower management, material
management and sales plan management have been newly developed or upgraded. In the field of free-range management, the
company took contract management and settlement management as the starting point to upgrade the farmer management system.
In the field of health management, the company’s newly developed immune management system began to be promoted
simultaneously in breeding pigs and in-house fattening systems. In the field of breeding management, the company completed the
development of new variety breeding system and the upgrade of backup introduction system.
3. Organization optimization: to further strengthen the overall management of pig business, streamline the management
process and improve operational efficiency, the company established a pig business group in the second quarter on the basis of the
original pig business headquarters, responsible for the daily operation and management of the company’s pig business, and made a
series of optimization and adjustments to the management system of each vertical team under its control. The company has set up
special prevention and control teams for blue ear disease and epidemic diarrhea respectively at the level of business group
headquarters and vertical teams, and in the disease control veterinary line, established a new risk control line to strengthen the
system prevention and supervision and inspection of business process risks, and strengthened the vertical management of live pig
sales lines to realize the optimization and overall planning of national sales. At the vertical team level, the company upgraded the
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free range management line of each vertical team into a free range management service company to strengthen the overall
arrangement of piglet supply and farmers' resources at the vertical team level; the company also established a separate planting and
environmental protection department to improve the self-sufficiency rate of vegetables in pig farms and reduce the frequency of
vegetables purchased and the associated risk of epidemic prevention. At the operating region level, to strengthen the in-house
fattening capacity building, the company required the general manager of the operating region to be the person in charge of the in-
house fattening line and allocated full-time vet in the in-house fattening farm. In addition, the company also selected a group of
outstanding cadres from the central south vertical teams with stable and leading production performance and good team foundation
in the past two years to enrich the business group headquarters and the north China vertical team and northeast vertical team,
which were relatively more affected by ASF, to duplicate and promote excellent work experience, and help improve the ability of
ASF prevention and control and production management.
During the reporting period, the company sold a total of 0.9085 million breeding pigs and piglets and 8.0882 million hogs,
totaling 8.9940 million, 31.33% up year-on-year; the company reported business revenue of 10.632 billion yuan (slightly less than
the accumulated sales revenue indicated in the monthly hog sales briefings due to deduction in sales in connection with sales to
internal slaughterhouses), 2.868 billion yuan more or 37% up year-on-year.
(IV) Food business
Food business is the direction of the company’s medium- and long-term focus of development. In the first half of 2023,
terminal consumption (especially in the catering industry) recovered, while pig prices remained low for most of the time, which
had a positive impact on the food deep processing business. The company’s food business seized the opportunity to make
continuous efforts in products, regions, channels, and other aspects, and continued to maintain the common growth of sales,
revenue and profit.
1. Star items: for crispy pork series, the biggest star item in recent years, on the one hand, the company promoted deep
distribution and channel sinking in the regional market, and its sales in many provinces in east, central, northwest and north China
reached a new high; on the other hand, the company maintained the competitiveness of raw material prices through the “linkage of
the raw and the cooked” in the production and manufacturing system, and reduced processing costs while improving the yield and
product quality through the automatic upgrade of processing equipment; thereby, the sales of crispy pork series in the first half of
the year reached 640 million yuan, an increase of nearly 20%. For pig intestines series newly developed by the company in the last
year, the sales in the first half of the year reached nearly 140 million yuan, exceeding the annual sales of last year. In addition,
subsequent echelon products, such as beef slices, meat balls, grilled sausages, prepared chicken wings, snack sausages, and pig by-
products, achieved varying degrees of year-on-year sales growth.
2. In-depth development of channels: with the hot sale of star items such as crispy pork, the company’s channel layout and
customer system in China are gradually improved. In the first half of 2023, the coverage of food business channel network to
prefecture-level cities has been close to 90%. On the one hand, the company continued to strengthen its penetration in the
subdivision track by relying on its advantageous items. For example, it extended the catering consumption scene of crispy pork
from hot pot restaurants to noodle restaurants, pickled fish, grilled fish, pubs, etc., and strengthened the C-side purchase scene
such as supermarkets and community retail stores. On the other hand, the company strengthened the reuse of the developed
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channels by subsequent echelon products, for example, customers of beef slices cover 60% of existing customers of crispy meat,
and hot pot customers are 100% covered; the pig intestine series also realizes a large number of reuse in hot pot, Chinese food,
snacks and other channels. In addition, the company also launched the “876 customer program” for food business in the first half
of the year, selecting out more than 300 high-quality customers at three levels, developing support plans for customers, further
strengthening customer service, improving customer experience, helping customers to develop, and achieving win-win results
between customers and the company.
3. Slaughtering and segmentation: due to the long-term downturn in pork market consumption in the past two years, the gross
profit of raw pork continued to decline, the company began to strengthen the segmentation strategy from the end of last year and
early this year to improve the profitability level. In the production side, the amount of segmentation was gradually increased by
28% year-on-year; on this basis, according to the different needs of catering and supermarket channels, further small pieces
processing or customized packaging services were provided on the basis of finely divided products. At the market side, for the
main consumption scenarios of finely segmented products, the emphasis was put on increasing the customization cooperation with
direct supermarket channels such as Sam’s Club and Freshippo, as well as key catering customers.
During the reporting period, the company slaughtered 2.09 million hogs, 0.39 million more or 23% up year-on-year, sold
257,700 tons of pork products, 39,700 tons more or 18% up year-on-year, sold 136,700 tons of various processed meat products
and prepared dishes, 6,900 tons more or 5% up year-on-year, and reported business revenue of 5.807 billion, 0.891 billion yuan
more or 18% up year-on-year.
YoY changes of key financial data
Unit: yuan
The same period of the YoY increase or
This reporting period Cause of change
previous year decrease
Business revenue 69,452,880,446.14 62,329,531,076.64 11.43%
Operating costs 68,196,429,382.49 62,063,554,174.37 9.88%
Selling expenses 927,000,996.81 877,736,004.72 5.61%
General and
administrative 2,476,707,410.51 2,431,811,072.08 1.85%
expenses
Mainly due to the increase in
Financial expenses 1,029,507,937.07 760,981,877.24 35.29% corporate borrowings and the
increase in financial expenses
Income tax expense 161,590,170.27 140,757,923.12 14.80%
R&D input 138,905,850.64 151,257,614.79 -8.17%
Mainly due to the decrease in
the company’s prepayment for
raw materials and the increase in
Net cash flows from
1,982,054,648.14 -1,133,527,154.46 274.86% the method of bill settlement,
operating activities
which led to the increase of net
cash flows from operating
activities;
Mainly due to YoY decrease of
Net cash flows from
-1,200,623,370.68 -4,266,170,951.69 71.86% the company’s input of fixed
investing activities
assets in the pig business.
Net cash flows from -1,365,191,333.80 1,848,149,801.11 -173.87% Mainly due to YoY decrease in
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financing activities the net increase of borrowings
obtained by the company.
Mainly due to the reduction of
Net increase in cash
-611,504,392.75 -3,600,471,868.10 83.02% the company’s long-term
and cash equivalents
investment in the pig business.
Mainly due to changes in fair
Gains from variation
-60,100,451.27 -1,254,312.12 -4,691.51% value of financial products of
in fair value
the company.
Mainly due to decrease in
Asset impairment
-884,764,393.43 -1,328,087,107.41 33.38% provision for impairment loss of
loss
consumptive biological assets.
Mainly affected by the income
Income from asset from disposal of productive
98,943,162.11 8,121,268.04 1,118.32%
disposal biological assets of the
company.
Mainly due to decrease in
destruction, scrapping and
Non-business
323,748,335.88 759,373,021.68 -57.37% interim loss of productive
expenditure
biological assets of the
company.
Material changes in composition or source of profits of the company in the reporting period
□applicable not applicable
There were no material changes in composition or source of profits of the company during the reporting period.
Composition of business revenue
Unit: yuan
This reporting period The same period of the previous year
Proportion YoY
Proportion in in increase or
Amount Amount decrease
business revenue business
revenue
Total operating
69,452,880,446.14 100% 62,329,531,076.64 100% 11.43%
revenue
By industry
Feeds 39,151,609,640.34 56.37% 36,037,156,488.71 57.82% 8.64%
Pig business 10,632,213,329.05 15.31% 7,764,687,577.91 12.46% 36.93%
Poultry business 9,653,511,379.76 13.90% 8,289,654,758.78 13.30% 16.45%
Food 5,807,303,836.73 8.36% 4,913,494,290.92 7.88% 18.19%
Commerce and trade 3,798,296,892.86 5.47% 4,951,456,818.63 7.94% -23.29%
Others 409,945,367.40 0.59% 373,081,141.69 0.60% 9.88%
By product
Feeds 39,151,609,640.34 56.37% 36,037,156,488.71 57.82% 8.64%
Pig business 10,632,213,329.05 15.31% 7,764,687,577.91 12.46% 36.93%
Poultry business 9,653,511,379.76 13.90% 8,289,654,758.78 13.30% 16.45%
Food 5,807,303,836.73 8.36% 4,913,494,290.92 7.88% 18.19%
Commerce and trade 3,798,296,892.86 5.47% 4,951,456,818.63 7.94% -23.29%
Others 409,945,367.40 0.59% 373,081,141.69 0.60% 9.88%
By region
Overseas 9,495,949,647.11 13.67% 7,803,392,389.02 12.52% 21.69%
Domestic 59,956,930,799.03 86.33% 54,526,138,687.62 87.48% 9.96%
Industries, products or regions that account for more than 10% of the company’s business revenue or operating profits
applicable □not applicable
Unit: yuan
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Increase or
Increase or Increase or
decrease in
decrease in decrease in
business
Gross operating cost operating cost
Business revenue Operating costs revenue from
margin from the same from the same
the same period
period of the period of the
of the previous
previous year previous year
year
By industry
Feeds 39,151,609,640.34 37,185,725,284.70 5.02% 8.64% 8.92% -0.24%
Pig business 10,632,213,329.05 11,859,740,622.89 -11.55% 36.93% 19.26% 16.53%
Poultry business 9,653,511,379.76 9,210,199,943.00 4.59% 16.45% 14.26% 1.83%
Food 5,807,303,836.73 5,951,088,552.07 -2.48% 18.19% 23.76% -4.62%
By product
Feeds 39,151,609,640.34 37,185,725,284.70 5.02% 8.64% 8.92% -0.24%
Pig business 10,632,213,329.05 11,859,740,622.89 -11.55% 36.93% 19.26% 16.53%
Poultry business 9,653,511,379.76 9,210,199,943.00 4.59% 16.45% 14.26% 1.83%
Food 5,807,303,836.73 5,951,088,552.07 -2.48% 18.19% 23.76% -4.62%
By region
Overseas 9,495,949,647.11 8,785,247,512.30 7.48% 21.69% 22.46% -0.59%
Domestic 59,956,930,799.03 59,411,181,870.21 0.91% 9.96% 8.24% 1.58%
Data about main business of the company after the most recent adjustment according to the statistical caliber at the end of
reporting period if the statistical caliber of main business data of the company was adjusted during the reporting period
□applicable not applicable
IV. Analysis of non-core business
applicable □not applicable
Unit: yuan
Proportion in total Remarks on reason for Whether sustainable
Amount
profits formation or not
Mainly consisting of
investment income from the
equity of China Minsheng
Investment income 1,066,870,403.12 -31.10% Yes
Bank held by the company
and recognized using the
equity method
Gain or loss from
-60,100,451.27 1.75%
change in fair value
Asset impairment -916,744,972.39 26.72%
Non-business revenue 62,923,600.47 -1.83%
Non-business
323,748,335.88 -9.44%
expenditure
V. Analysis of assets and liabilities
1. Significant changes in asset composition
Unit: yuan
End of this reporting period End of the previous year Proportion
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Proportion in total Proportion in total increase or
Amount Amount decrease
assets assets
Monetary capital 11,150,787,210.19 8.25% 11,512,430,182.35 8.42% -0.17%
Accounts
1,937,293,872.45 1.43% 1,285,865,849.45 0.94% 0.49%
receivable
Contract assets 0.00% 0.00% 0.00%
Inventories 16,789,490,600.65 12.42% 17,901,083,522.59 13.10% -0.68%
Investment
168,615,996.59 0.12% 173,146,710.26 0.13% -0.01%
properties
Long-term equity
26,512,423,398.26 19.62% 26,256,101,521.11 19.21% 0.41%
investments
Fixed assets 36,694,212,664.22 27.15% 35,683,327,341.71 26.11% 1.04%
Construction in
20,275,114,273.59 15.00% 20,157,929,735.51 14.75% 0.25%
progress
Right-of-use
5,693,421,082.55 4.21% 6,095,819,071.51 4.46% -0.25%
assets
Short-term
17,997,266,231.04 13.32% 13,359,392,691.44 9.77% 3.55%
borrowings
Contract
2,249,428,800.69 1.66% 2,173,108,069.79 1.59% 0.07%
liabilities
Long-term
25,939,596,845.54 19.20% 27,527,873,389.95 20.14% -0.94%
borrowings
Lease liabilities 4,446,693,733.14 3.29% 4,719,055,556.37 3.45% -0.16%
Productive
6,991,181,620.46 5.17% 7,576,647,898.07 5.54% -0.37%
biological assets
2. Major overseas assets
□applicable not applicable
3. Assets and liabilities measured at fair value
applicable □not applicable
Unit: yuan
Cumulativ
Current
Current gain e change
provisio Other
Beginning or loss from in fair Current Ending
Item n for Current sale chang
amount change in fair value purchase amount
impairm es
value recorded
ent
in equity
Financial
assets
1. Held-for-
trading
financial
148,914,177 - 9,145,262.7 77,510,307.
assets 75,665,993.75
.97 41,350,679.88 7 04
(excluding
derivative
financial
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assets)
4.
Investments
315,248,826 315,248,82
in other
.38 6.38
equity
instruments
Subtotal of
464,163,004 - 9,145,262.7 392,759,13
financial 0.00 0.00 75,665,993.75
.35 41,350,679.88 7 3.42
assets
Total of the 464,163,004 - 9,145,262.7 392,759,13
0.00 0.00 75,665,993.75
above .35 41,350,679.88 7 3.42
Financial 6,103,030.7 - 18,749,771.
liabilities 7 18,749,771.39 39
Other changes
Whether the measurement attributes of major assets of the company changed significantly during the reporting period
□yes no
4. Restrictions on asset rights as of the end of the reporting period
Item Ending book value Cause of restriction
Purchase of futures, margins of guarantee companies, note margins and
Monetary capital 948,272,428.70
reclamation margins, etc.
Used as collateral for long and short-term borrowings and for financial
Fixed assets 844,381,711.78
sale and leaseback
Intangible assets 38,297,553.95 Used as collateral for long and short-term borrowings
Long-term equity investments 865,194,100.00 Used as pledge for long-term borrowings
Total 2,696,145,794.43
VI. Analysis of investments
1. General condition
applicable □not applicable
Investment during the reporting period Investment during the same period of the
Rate of change
(yuan) previous year (yuan)
26,941,133,862.17 25,368,741,126.68 6.20%
2. Significant equity investments acquired during the reporting period
□applicable not applicable
3. Ongoing significant non-equity investments during the reporting period
□applicable not applicable
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4. Investments in financial assets
(1) Investments in securities
□applicable not applicable
The company had no investments in securities during the reporting period.
(2) Investments in derivatives
applicable □not applicable
1) Derivatives investments for hedging purposes during the reporting period
applicable □not applicable
Unit: 10,000 yuan
Percentage of
ending
Cumulative investment
Current gain Purchase Sale during
Initial change in amount in
Type of derivatives or loss from during the the Ending
investment fair value net assets of
investment change in reporting reporting amount
amount recorded in the company
fair value period period
equity at the end of
reporting
period
Futures and option
86.46 -4,368.99 0 673.74 -2,574.91 247.6 0.00%
contracts
Interest rate swap and
foreign exchange 9,272.3 -1,641.06 0 240.79 5,141.5 5,628.45 0.15%
forwards
Total 9,358.76 -6,010.05 0 914.53 2,566.59 5,876.05 0.15%
Remarks on the
accounting policies and
specific accounting
principles of hedging The accounting policies and accounting principles related to the company’s derivatives transactions
business during the have been implemented in accordance with the relevant provisions of the Accounting Standards for
reporting period and Business Enterprises - Recognition and Measurement of Financial Instruments and the Accounting
whether there are Standards for Business Enterprises - Hedging issued by the Ministry of Finance of the People’s
significant changes Republic of China, without any changes. No change
compared with the
previous reporting
period.
Remarks on actual During the reporting period, the company reported profit/loss on futures and options contracts of -
profit or loss during the 30.875 million yuan, and profit/loss on interest rate swaps and foreign exchange forwards of 12.5684
reporting period million yuan.
Through derivative investment business, the company effectively reduced the risk of foreign exchange
fluctuations and achieved the business management results with operation objectives as the center and
Remarks on the
preservation as the purpose. By using the live pig futures hedging plan to sell live pigs, the company
hedging effect
prevented the cost and profit of live pig sales from the risk of falling market price, and improved the
performance of spot live pig sales.
Source of funding for
Self-raised
derivatives investment
Remarks on risk Remarks on risk analysis and control measures of derivatives positions during the reporting period
35
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
analysis and control (including but not limited to market risk, liquidity risk, credit risk, operational risk and legal risk)
measures of derivatives I. Risk analysis
positions during the Commodity futures hedging operation can effectively manage the purchase price risk of raw materials,
reporting period especially reduce the impact of falling price loss caused by high inventories on the company when raw
(including but not materials fall sharply, but there will also be certain risks:
limited to market risk, 1. Risk of abnormal price fluctuations: in theory, the futures market prices and the spot market prices
liquidity risk, credit of all the trade categories at the closing date will return to the same level. In the rare cases of irrational
risk, operational risk market, the futures prices and spot prices might still not return at the closing date, thus giving rise to a
and legal risk) systemic risk event, which in turn affects hedging operation scheme of the company, even causing
losses.
2. Capital risk: if the amount of investment in futures trading is too large according to the operating
instructions issued by the company, it may lead to capital liquidity risk, or even result in actual losses
caused by forced liquidation due to insufficient time to supplement the margin.
3. Technical risk: technical risk may be caused by incomplete computer systems.
In order to prevent the adverse impact of exchange rate and interest rate fluctuations on the company’s
profits and shareholders' equity, the company needs to conduct capital transaction business of value-
preserved exchange rate and interest rate to reduce the risk exposure of foreign exchange and interest
rate, but at the same time there are certain risks:
1. Market risk. The difference between the contract exchange rate/interest rate and the actual exchange
rate/interest rate at maturity date will generate investment gains and losses in the value-preserved
capital transaction business; during the duration of the value-preserved capital transaction business,
there will be revaluation gains and losses in each accounting period, and the cumulative value of the
revaluation gains and losses at maturity date is equal to the gains and losses on investment.
2. Liquidity risk. The value-preserved foreign exchange capital transaction business is based on the
company’s foreign exchange revenue and expenditure budget, and matches the actual foreign exchange
revenue and expenditure to ensure that the company has sufficient capital for clearing at the time of
closing, or selects the derivatives for close-out netting to reduce the cash flow requirements at maturity
date; The value-preserved interest rate capital transaction business will all be closed based on the net
amount of interest rate difference.
3. Performance risk. The counter-parties of the company in value-preserved capital transaction business
are all banks with good credit standing and maintaining long-term business relations with the company,
for which there is substantially no performance risk.
4. Other risks. When conducting business, if the operators fail to follow the prescribed procedures for
the operation of value-preserved capital transaction business or to fully understand the derivatives
information, the operational risks will occur; If the terms of the transaction contract are not clear, the
legal risks will be likely to occur.
II. Risk management strategies
Risk management strategies for commodity futures hedging:
1. Match the hedging business with the company’s production and operation, and strictly control the
futures position.
2. Strictly control the capital scale of hedging, reasonably plan and use the margins, issue operating
instructions in strict accordance with the company’s policies on futures trading management, and
conduct operations only after approval according to the regulations.
3. The company has established the Derivatives Investment Management Policies and the Futures
Management Policies, making clear provisions for hedging business, and set up a dedicated futures
operation team, dedicated futures operation monitoring team and corresponding business processes for
control through implementation of authorization and post constraints, internal audit and other
measures.
4. The warning mechanism for medium and long-term trends of major varieties has been established.
According to the monitoring mechanism of market price trends, the futures operation and monitoring
team of the company regularly predicts the future trends of major varieties in a certain period, so as to
ensure timely judgment and disposition of futures varieties in case of abnormal fluctuations.
Risk management strategies for value-preserved capital transaction business
1. The company conducts value-preserved capital transaction business for the purpose of reducing the
impact of exchange rate fluctuations on the company, and prohibits any risky speculations; the amount
of the company’s value-preserved capital transaction business may not exceed the upper limit of the
authorized amount approved by the board of directors or the general meeting; the company may not
engage in any leveraged capital transactions.
36
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
2. The business working group of the company shall conduct risk analysis on transactions before
carrying out the capital transaction business, and formulate and submit the transaction plans (including
capital transaction variety, term, amount, trading bank, etc.) and feasibility analysis reports to the
business leadership group.
3. The value-preserved capital transaction business contracts of the company shall be executed after the
business working group submits them to and obtain approval from the chief financial officer, president
and chairman.
4. The company shall sign contracts with trading banks with accurate and clear terms, and strictly
implement the risk management system to prevent legal risks.
5. The finance department of the company shall timely track the changes in open market prices or fair
value of capital transaction contracts, timely assess the changes in risk exposure of the traded contracts,
and regularly report to the risk control committee of the board of directors; if any abnormal situation is
found, it shall be reported to the risk control committee of the board of directors to prompt the business
working group to implement emergency measures.
6. The company’s internal audit department shall conduct compliance audit on capital transaction
contracts on a regular basis.
Changes in market
prices or product fair
value of derivatives that
the company has
invested in during the
The hedging transaction variety of the company is the value-preserved capital transaction business for
reporting period, with
the prevalent varieties in the domestic futures markets, for which the market transparency is high and
the analysis of fair
the transactions are active, and the transaction prices and the intra-day settlement unit price fully reflect
value of derivatives to
the fair value of derivatives.
disclose the specific
methods used and
setting of related
assumptions and
parameters.
Involvement in
litigations (if Not applicable
applicable)
Date on which the
board approval of
derivatives investment Apr. 21, 2023
is announced and
disclosed (if any)
Special opinions of The company’s derivatives investments for the purpose of hedging have been assessed by designated
independent directors related department in terms of investment risk. To put an end to speculation in the investment process,
on derivatives the company has released the Derivatives Investment Management Policies and the Futures
investments and risk Management Policies. While conducting derivatives business, the company should continue to enhance
control of the company the professional competency and capabilities of operating personnel and strengthen supervision.
2) Derivatives investments for speculative purposes during the reporting period
□applicable not applicable
The company had no derivatives investments for speculative purposes during the reporting period.
5. Use of raised funds
applicable □not applicable
37
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
(1) Overall use of raised funds
applicable □not applicable
Unit: 10,000 yuan
Amo
Total unt
raised Total Percenta of
funds raised ge of raise
Total Total
re- funds total Total d
Total raised raised Purpose and
purpos re- raised raised fund
Year of Way of amount funds used funds destination of
ed purpo funds funds s left
raising raising of raised in the used raised fund not
during sed repurpos not yet idle
funds current accumul yet used
the accu ed used for
period atively
reporti mulat accumul more
ng ively atively than
period two
years
Idle raised funds
for temporary
replenishment
Convertibl to working
e bonds 398,282. 381,553. 18,675.7 capital,
2020
publicly 9 02 9 transferred to
issued special account
for use
according to
project progress
Idle raised funds
for temporary
replenishment
Non- to working
public 399,475. 388,650. 11,807.6 capital,
2020 284.41
issuance 05 36 1 transferred to
of stocks special account
for use
according to
project progress
Idle raised funds
for temporary
replenishment
Convertibl to working
e bonds 813,309. 722,551. 91,639.5 capital,
2021 3,631.88
publicly 64 6 5 transferred to
issued special account
for use
according to
project progress
1,611,06 1,492,75 122,122.
Total -- 3,916.29 0 0 0.00% -- 0
7.59 4.98 95
Remarks on overall use of raised funds
According to the approval of China Securities Regulatory Commission (“CSRC”) in the Reply on Approval of Public Issuing of
Convertible Corporate Bonds by New Hope Liuhe Co., Ltd. (CSRC Approval [2019] No.1902), the company publicly issued 4
billion yuan of convertible corporate bonds with par value of 100 yuan, a total of 40 million bonds for a period of 6 years. The
total amount raised was 4 billion yuan, less issuance expense of 17.171 million yuan, the actual net amount raised was 3,982.829
million yuan.
38
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
According to the approval of CSRC in the Reply on Approving the Non-public Offering of Shares by New Hope Liuhe Co., Ltd.
(CSRC Approval [2020] No.1961), the company privately placed 177,147,918 RMB ordinary shares to two particular
shareholders, namely, South Hope Industrial Co., Ltd. and New Hope Group Co., Ltd., with the issue price of 22.58 yuan per
share. The total amount raised was 4 billion yuan, less issuance expense of 5.2495 million yuan, the actual net amount raised was
3,994.7505 million yuan.
According to the approval of CSRC in the Reply on Approval of Public Issuing of Convertible Corporate Bonds by New Hope
Liuhe Co., Ltd. (CSRC Approval [2021] No.1351), the company publicly issued 8.15 billion yuan of convertible corporate bonds
with par value of 100 yuan, a total of 81.5 million bonds for a period of 6 years. The total amount raised was 8.15 billion yuan,
less issuance expense of 16.9036 million yuan, the actual net amount raised was 8,133.0964 million yuan.
According to relevant provisions of the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for
Management and Use of Raised Funds by Listed Companies of CSRC, Shenzhen Stock Exchange Guidelines for Standard
Operation of Listed Companies and the Administrative Measures of New Hope Liuhe Co., Ltd. for Use of Raised Funds, in light of
the actual requirements of the company for use and management of raised funds, the company’s entities responsible for
implementation of investment projects using raised funds signed Tripartite Supervision Agreement on Raised Funds with the
sponsor institutions and supervising banks respectively, whereby various project entities open earmarked accounts for raised funds
with corresponding organizations of the supervising bank.
(2) Projects to which raised funds are committed
applicable □not applicable
Unit: 10,000 yuan
Wheth
Whether Wheth
Amou Accumul Investme er
Committed the Total er the
nt atively nt estima
investment project committ Total Date when Benefits project
investe invested progress ted
projects and has been ed investm the project realized in feasibi
d in amount as of the benefi
investment changed investm ent after reaches the this lity has
this as of the end of ts
destinations (includi ent of adjustm intended reporting change
reporti end of period have
of over- ng raised ent (1) usable state period d
ng period (3)=(2)/( been
raised funds partial funds signifi
period (2) 1) reache
change) cantly
d
Committed investment projects
New
500,000/a
Commercia
l Pigs
49,074.1 Oct. 31,
Cluster No 50,000 50,000 98.15% -2,083.72 No No
5 2021
Project in
Ningjin,
Dezhou,
Shandong
700,000/a
Commercia
l Pigs
Project of
Huanghua 68,899.0 Oct. 31,
No 70,000 70,000 98.43% -2,117.2 No No
Xinhao 5 2021
Technology
Co., Ltd. in
Liguanzhua
ng Village
6,000/a
Pigs Jul. 31,
No 10,000 10,000 10,000 100.00% -5,480.85 No No
Standardize 2020
d Farm
39
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Project of
Yucheng
New Hope
Liuhe
Swine
Breeding
Co., Ltd.
300,000/A
Hogs
Cluster
Oct. 31,
Developme No 20,000 20,000 20,000 100.00% -5,340.73 No No
2020
nt Project in
Yangyuan
County
1.00
million/a
Hogs
Breeding
Project of
103,902. Oct. 31,
Tongliao No 117,500 117,500 88.43% -2,024.17 No No
77 2021
Xinhao
Farming
Co., Ltd. at
Sanyitang
Farm
1.00
million/a
Hogs
Breeding
Project of
114,677. Oct. 31, -
Tongliao No 117,500 117,500 97.60% No No
05 2021 10,226.07
Xinhao
Farming
Co., Ltd. at
Zhenan
Farm
Jinfeng
Swine Farm
Project of
Leshan
Nov. 30,
New Hope No 5,000 5,000 5,000 100.00% -296.43 No No
2019
Farming
Co., Ltd. in
Jingyan
County
0.15 million
piglets
breeding
and farming
integrated Jan. 31,
No 10,000 10,000 10,000 100.00% -1,709.24 No No
eco- 2020
industrial
park in
Lingbao,
Henan
0.70 million
88,212.8 Nov. 30,
hogs/a No 92,000 92,000 95.88% -1,203.42 No No
5 2021
farming
40
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
project in
Shuozhou
Livestock
Farm No. 1
project of
21,702.3 Nov. 30,
Gansu New No 24,000 24,000 90.43% -4,074.07 No No
7 2021
Hope in
Pingxian
Village
Livestock
Farm No. 2
project of
23,304.9 Nov. 30,
Gansu New No 24,000 24,000 97.10% -2,393.13 No No
2 2021
Hope in
Pingxian
Village
New 0.70
million
hogs project
in Xicha Sept. 30,
No 25,000 25,000 25,000 100.00% -8,071.28 No No
Town, 2020
Lanzhou
New
District
Tonghe
Fattening
Farm
Nov. 30,
Project in No 20,000 20,000 18.86 20,000 100.00% -739.55 No No
2021
Beihu
District,
Chenzhou
13,500/a
breeding
pigs farm
constructio
n project of 15,110.9 Jul. 31,
No 16,000 16,000 94.44% -271.53 No No
Ruzhou 5 2021
Quansheng
Farming
Technology
Co., Ltd.
13,500/a
Storied
Building
Sows
Breeding
and
Farming
Dec. 31,
Integrated No 10,000 10,000 10,000 100.00% -4,682.18 No No
2020
Project in
Nanxiang
Village,
Chengguo
Town,
Laizhou
City
New No 20,000 20,000 20,000 100.00% Oct. 31, -124.31 No No
41
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
300,000/a 2020
Commercia
l Pigs Phase
I Breeding
Pig Farm
Project of
Dingzhou
Xinhao
Farming
Co., Ltd.
New
300,000/a
Commercia
l Pigs Phase
II Breeding
Jan. 31,
Pig Farm No 12,000 12,000 12,000 100.00% -663 No No
2021
Project of
Dingzhou
Xinhao
Farming
Co., Ltd.
13,500/a
Swines
Feeding
Project of
19,803.8 Apr. 30,
Qingfeng No 21,000 21,000 94.30% -939.27 No No
7 2021
Xinliu
Farming
Technology
Co., Ltd.
13,500
Sows Farm
Project of
Wuhe New
Hope Liuhe
Jul. 31,
Livestock No 20,000 20,000 19,928 99.64% -878.67 No No
2021
Co., Ltd. in
Huojia
Village,
Xiaoxi
Town
180,000/a
Hogs
(Breeding
and
Farming
Cycle)
Nov. 30,
Project in No 24,000 24,000 21,899.7 91.25% -1,869.71 No No
2021
Chenliu
Village,
Shiling
Town,
Laibin,
Guangxi
100,000/a
Commercia Sept. 30,
No 6,000 6,000 5,834.83 97.25% -311.29 No No
l Pigs 2021
Project of
42
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Heze
Xinhao
Farming
Co., Ltd. in
Liangtang
72,000/a
Hogs
Fattening
Oct. 31,
Farm No 6,000 6,000 265.55 5,852.87 97.55% -910.18 No No
2021
Constructio
n Project in
Laizhou
Gansu
Xinliu Pig 33,608.0 Aug. 31,
No 43,500 43,500 169.69 77.26% -3,884.73 No No
Farming 7 2022
Project
Yiliang
Xinliu Pig Not Not
No 32,000 32,000 98.7 1,582.04 4.94% No No
Farming applicable applicable
Project
Luding
Xinyue Pig 11,720.3 Not Not
No 27,500 27,500 42.62% No No
Farming 9 applicable applicable
Project
Luocheng
Xinhao Pig 25,601.8 Aug. 31,
No 31,000 31,000 31.62 82.59% -465.66 No No
Farming 1 2022
Project
Lezhi
Xinmu Pig Aug. 31,
No 28,500 28,500 28,500 100.00% -1,681.44 No No
Farming 2022
Project
Guigang
Xinliu Pig 52,921.4 Aug. 31,
No 53,000 53,000 680.1 99.85% -2,520.07 No No
Farming 8 2022
Project
Pizhou New
Hope Pig 43,243.2 Aug. 31,
No 53,500 53,500 80.83% -168.28 No No
Farming 5 2022
Project
Liuzhou
Xinliu Pig 18,580.2 Aug. 31,
No 22,000 22,000 389.4 84.46% -377.36 No No
Farming 9 2022
Project
Lipu
Xinhao Pig Aug. 31,
No 13,500 13,500 271.3 11,012.3 81.57% -745.67 No No
Farming 2022
Project
Meishan
Xinmu Pig May 31,
No 21,500 21,500 21,500 100.00% -321.88 No No
Farming 2021
Project
0.30 million
hogs farm
17,254.0 Aug. 31,
project in No 19,000 19,000 412.2 90.81% -18.64 No No
4 2022
Xiangshan
Village,
43
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Xindu
Town,
Tongcheng
72,000 pigs
fattening
farm project
in
Aug. 31,
Qipanling No 16,500 16,500 182.69 15,054.3 91.24% -22.79 No No
2022
Village,
Fangang
Town,
Tongcheng
Pig farming
project of 16,351.8 Aug. 31,
No 18,500 18,500 88.39% -1.58 No No
Yi County 2 2022
Xinliu
13,500
sows farm
project in
Ciyu
Village,
Xinxing 18,379.9 Aug. 31,
No 19,000 19,000 46.96 96.74% -602.45 No No
Town, 8 2022
Heishan
County,
Jinzhou,
Liaoning
Province
72,000 pigs
fattening
farm project
in Liuhe
Village, Aug. 31,
No 16,500 16,500 12,050 73.03% -1.68 No No
Yingchengz 2022
i Township,
Jinzhou,
Liaoning
Province
400,000/a
hogs
breeding
and farming
eco-cycle 16,285.9 Aug. 31,
No 17,500 17,500 93.06% -2,015.11 No No
agricultural 1 2022
constructio
n project of
Juye
Xinhao
72,000 pigs
fattening
Aug. 31,
farm project No 9,000 9,000 0.02 8,384.42 93.16% -195.39 No No
2022
of Juye
Xinhao
Breeding
pig farm Aug. 31,
No 16,500 16,500 16,500 100.00% -2,923.64 No No
project of 2022
Yantai
44
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Xinhao
Farming
Co., Ltd.
In-house
pig
fattening
farm project 13,704.1 Aug. 31,
No 15,000 15,000 500 91.36% -1,579.52 No No
of Yantai 4 2022
Xinhao
Farming
Co., Ltd.
200,000/a
Hogs
Breeding
Project of
Puyang
Aug. 31,
Xinliu No 17,000 17,000 17,000 100.00% -20.38 No No
2022
Farming
Technology
Co., Ltd. in
Dongdingz
hai Village
200,000/a
Hogs
Breeding
Project of
Puyang
15,971.3 Aug. 31,
Xinliu No 16,500 16,500 583.47 96.80% -2,210.11 No No
2 2022
Farming
Technology
Co., Ltd. in
Huoying
Village
100,000/a
Hogs
Breeding
Project of
Aug. 31,
Puyang No 8,000 8,000 265.73 7,400.74 92.51% -1,115.24 No No
2022
Xinliu
Farming
Technology
Co., Ltd.
180,000/a
Commercia
l Pigs
Project in Sept. 30, -
No 10,500 10,500 10,500 100.00% No No
Niuzhuang 2021 24,121.94
Town,
Dongying
District
180,000/a
Commercia
l Pigs
Project in Sept. 30,
No 9,500 9,500 9,500 100.00% -5,905.86 No No
Longju 2021
Town,
Dongying
District
45
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Shibing
New Hope
Aug. 31,
Pig No 35,500 35,500 35,445.3 99.85% -681 No No
2022
Farming
Project
Subtotal of
-
committed 1,290,50 1,290,50 3,916. 1,168,25
-- -- -- 107,990.4 -- --
investment 0 0 29 4.98
2
projects
Investment destinations of over-raised funds
None
Bank loans
repaid (if -- 244,500 244,500 244,500 100.00% -- -- -- --
any)
Working
capital
-- 80,000 80,000 80,000 100.00% -- -- -- --
supplement
ed (if any)
Subtotal of
investment
destinations -- 324,500 324,500 324,500 -- -- -- --
of over-
raised funds
-
1,615,00 1,615,00 3,916. 1,492,75
Total -- -- -- 107,990.4 -- --
0 0 29 4.98
2
Explain the
circumstanc
es and
reasons for
failing to
achieve the
planned
progress
and
All investment projects using raised funds were affected by ASF and the cyclical fluctuation of the pig industry.
estimated
The selling price of pigs in 2022 fluctuated greatly and remained at a low level from January to June 2023. Some
income by
projects were put into operation in the second half of 2022 when the projects had not reached the full-load
project
condition at the initial stage of commissioning, the project capacities were underutilized, and it takes a certain
(including
period of time for standby sows to move from littering to marketing of commercial pigs, causing the actual income
the reasons
of investment projects this year yet to achieve the estimated annual benefit.
why
“Whether
estimated
benefits
have been
reached” is
selected as
“Not
applicable”)
Remarks on
significant
changes in Not applicable
project
feasibility
Amount, Not applicable
46
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
purpose and
use
progress of
over-raised
funds
Changes in
places of
implementa
tion of
Not applicable
investment
projects
using raised
funds
Adjustment
s to manner
of
implementa
tion of Not applicable
investment
projects
using raised
funds
Applicable
On January 22, 2020, the 10th meeting of the 8th board of directors and the 6th meeting of the 8th board of
supervisors of the company deliberated and approved the Proposal on Replacing Self-raised Funds Previously
Preliminary
Invested with Funds Raised from Convertible Corporate Bonds, agreeing that the company can replace self-raised
investments
funds of 1,250.4220 million yuan that the company previously invested in projects with the funds of 1,250.4220
and
million yuan raised.
replacement
On September 28, 2020, the 23rd meeting of the 8th board of directors of the company deliberated and approved
s of
the Proposal on Replacing Self-raised Funds Previously Invested and Part of Issuance Costs with Funds Raised
investment
from Non-public Issuance of Stocks, agreeing that the company can replace self-raised funds of 1,866.1513 million
projects
yuan that the company previously invested in projects with the funds of 1,866.1513 million yuan raised.
using raised
On November 10, 2021, the 47th meeting of the 8th board of directors of the company deliberated and approved
funds
the Proposal on Replacing Self-raised Funds Previously Invested with Funds Raised from Convertible Corporate
Bonds, agreeing that the company can replace self-raised funds that the company previously invested in projects
and payment of part of issuance costs with the funds of 3,360.5204 million yuan raised.
Applicable
On February 7, 2020, the 11th meeting of the 8th board of directors of the company deliberated and approved
the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
company can use no more than 2,200.0000 million yuan of idle raised funds to supplement its working capital on a
temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. The company’s sponsor institution and independent directors expressed consent to
the aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As of
Use of idle February 23, 2021, the company returned the aforesaid raised funds used to temporarily supplement working
raised funds capital in entirety into the special account for raised funds and notified the sponsor institution and sponsor
to representative of the fact accordingly.
temporarily On September 28, 2020, the 23rd meeting of the 8th board of directors of the company deliberated and approved
supplement the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
working company can use no more than 1,200.0000 million yuan of idle raised funds to supplement its working capital on a
capital temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. The company’s sponsor institution and independent directors expressed consent to
the aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As of
September 15, 2021, the company returned the aforesaid raised funds used to temporarily supplement working
capital in entirety into the special account for raised funds and notified the sponsor institution and sponsor
representative of the fact accordingly.
On February 25, 2021, the 31st meeting of the 8th board of directors of the company deliberated and approved
the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
company can use no more than 1,680.0000 million yuan of idle raised funds to supplement its working capital on a
temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. The company’s sponsor institution and independent directors expressed consent to
the aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As of
February 21, 2022, the company returned the aforesaid raised funds used to temporarily supplement working
capital in entirety into the special account for raised funds and notified the sponsor institution and sponsor
representative of the fact accordingly.
On September 16, 2021, the 43rd meeting of the 8th board of directors of the company deliberated and approved
the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
company can use no more than 700.0000 million yuan of idle raised funds to supplement its working capital on a
temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. The company’s sponsor institution and independent directors expressed consent to
the aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As of
September 7, 2022, the company returned the aforesaid raised funds used to temporarily supplement working
capital in entirety into the special account for raised funds and notified the sponsor institution and sponsor
representative of the fact accordingly.
On November 10, 2021, the 47th meeting of the 8th board of directors of the company deliberated and approved
the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
company can use no more than 4,700.0000 million yuan of idle raised funds to supplement its working capital on a
temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. The company’s sponsor institution and independent directors expressed consent to
the aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As of
November 8, 2022, the company returned the aforesaid raised funds used to temporarily supplement working
capital in entirety into the special account for raised funds and notified the sponsor institution and sponsor
representative of the fact accordingly.
On February 23, 2022, the 50th meeting of the 8th board of directors of the company deliberated and approved
the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
company can use no more than 180.0000 million yuan of idle raised funds to supplement its working capital on a
temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. The company’s sponsor institution and independent directors expressed consent to
the aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As of
February 21, 2023, the company returned the aforesaid raised funds used to temporarily supplement working
capital in entirety into the special account for raised funds and notified the sponsor institution and sponsor
representative of the fact accordingly.
On September 8, 2022, the 5th meeting of the 9th board of directors of the company deliberated and approved
the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
company can use no more than 110.0000 million yuan of idle raised funds to supplement its working capital on a
temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. As of June 30, 2023, the balance of idled raised funds for the company to
temporarily supplement its working capital was 103.6000 million yuan.
On November 9, 2022, the 8th meeting of the 9th board of directors of the company deliberated and approved
the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
company can use no more than 950.0000 million yuan of idle raised funds to supplement its working capital on a
temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. The company’s sponsor institution and independent directors expressed consent to
the aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As of
June 30, 2023, the balance of idled raised funds for the company to temporarily supplement its working capital was
901.9100 million yuan.
On February 23, 2023, the 10th meeting of the 9th board of directors of the company deliberated and approved
the Proposal on Use of Part of Idle Raised Funds to Temporarily Supplement Working Capital, agreeing that the
company can use no more than 180.0000 million yuan of idle raised funds to supplement its working capital on a
temporary basis for a period of no more than 12 months from the date of deliberation and approval by the
company’s board of directors. The company’s sponsor institution and independent directors expressed consent to
the aforesaid matter regarding use of part of idle raised funds to temporarily supplement working capital. As of
June 30, 2023, the balance of idled raised funds for the company to temporarily supplement its working capital was
180.0000 million yuan.
Applicable
Balance of
Due to external macro factors, some regions saw late commencement of work and prolonged project
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idle funds construction cycle; due to the impacts of ASF, the construction periods of projects prolonged. Some of investment
in project projects using raised funds are constructed phase by phase and the first phase has now completed, with subsequent
implementa second and third phases underway.
tion and
reasons
As of June 30, 2023, the raised funds not yet used by the company from public issuance of convertible corporate
bonds was 186,757,854.29 yuan (of which, 6,757,854.29 yuan was deposited in earmarked accounts for raised
funds, and the remaining 180,000,000.00 yuan was used to temporarily supplement working capital). The raised
funds not yet used include interest income from earmarked accounts for raised funds.
Purpose and
As of June 30, 2023, the raised funds not yet used by the company from private placement of stocks was
destination
118,076,102.37 yuan (of which, 14,476,102.37 yuan was deposited in earmarked accounts for raised funds, and the
of raised
remaining 103,600,000.00 yuan was used to temporarily supplement working capital). The raised funds not yet
funds not
used include interest income from earmarked accounts for raised funds.
yet used
As of June 30, 2023, the raised funds not yet used by the company from public issuance of convertible corporate
bonds was 916,395,454.90 yuan (of which, 14,485,454.90 yuan was deposited in earmarked accounts for raised
funds, and the remaining 901,910,000.00 yuan was used to temporarily supplement working capital). The raised
funds not yet used include interest income from earmarked accounts for raised funds.
Other details：
The company respectively held the11th meeting of the 9th board of directors on April 19, 2023 and the general
meeting of 2022 on May 23, 2023, deliberated and approved the Proposal on Closing the Investment Project of
Raised Funds of the Convertible Corporate Bond “Hope Convertible Bond” and Permanently Supplementing the
Working Capital with the Remaining Raised Funds, agreeing that the investment project of the raised funds meets
the closing conditions, and the remaining raised funds will be used to permanently supplement the working capital.
As of June 30, 2023, the above remaining raised funds have not yet been applied for permanent supplementation of
the working capital.
The company respectively held the11th meeting of the 9th board of directors on April 19, 2023 and the general
Issues or meeting of 2022 on May 23, 2023, deliberated and approved the Proposal on Closing and Terminating Some
other Investment Projects of Raised Funds of the Convertible Corporate Bond “Hope Convertible Bond 2” and
circumstanc Permanently Supplementing the Working Capital with the Remaining Raised Funds, agreeing to close the “pig
es existing farm project in Huilongsi Village, Shuanghechang Township of Lezhi County Xinmu Farming Co., Ltd. and the
in use and New Hope 13,500 breeding pigs project in Wansheng Town, Meishan”, terminate the “construction project of 8250
disclosure breeding pigs and 90,000 commercial pigs in Detuo Town, Luding County, and the 50,000 live pigs project in
of raised Yiliang County”, and permanently supplement for working capital using the remaining raised funds of 462.0627
funds million yuan (excluding interest income, the specific amount is subject to the actual balance in the special bank
account on the day of funds transfer). As of June 30, 2023, the above remaining raised funds have not yet been
applied for permanent supplementation of the working capital.
The company respectively held the11th meeting of the 9th board of directors on April 19, 2023 and the general
meeting of 2022 on May 23, 2023, deliberated and approved the Proposal on Selling Assets to Minority-Owned
Companies and Related Transactions. The company intends to sell the equity in 7 pig farm projects in Sichuan and
Chongqing to Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd., including selling the equity in Lezhi
County Xinmu Farming Co., Ltd., Luding Xinyue Farming Technology Co., Ltd., and Meishan Xinmu Farming
Co., Ltd. These three companies are the executing entities of Lezhi Xinmu pig breeding project, Luding Xinyue
pig breeding project and Meishan Xinmu pig breeding project of “Hope Convertible Bond 2” fund raising project.
(3) Items of change in raised funds
□applicable not applicable
The company had no items of change in raised funds within the reporting period.
VII. Sale of major assets and equities
1. Sale of major assets
□applicable not applicable
The company did not sell any significant assets during the reporting period.
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2. Sale of major equities
□applicable not applicable
VIII. Analysis of major majority-owned and minority-owned subsidiaries
applicable □not applicable
Major subsidiaries and minority-owned companies that have an impact on the company’s net profits of more than 10%
Unit: yuan
Comp
Company Registere Business Operating
any Main business Total assets Net assets Net profits
name d capital revenue profits
type
Technical exchange
and technology
promotion;
technology
development;
agricultural
scientific research
and experimental
development; feed
sales; import and
export of goods and
technology; import
and export agency.
(The market entity
chooses business
items at its sole
Beijing discretion and
New conducts business
Hope activities according
Liuhe to law; for import - - -
Subsid 500,000, 72,782,112, 12,191,479,
Biotechno and export of goods 7,938,461,2 3,615,390,0 3,896,984,5
iary 000.00 211.59 689.92
logy and technology, 26.84 42.13 38.88
Industry import and export
Group agency and business
Co., Ltd. items subject to
approval according
to law, business
activities shall be
conducted with the
approval of
competent
authorities and
according to
approved contents;
no business
activities of items
prohibited or
restricted by
national and local
industry policies
may be conducted).
New Subsid Venture capital 576,555, 23,155,919, 23,155,795, 993,439,02 993,194,58
0.00
Hope iary investment (no 600.00 787.83 245.26 3.54 1.48
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Liuhe engagement in
Investme guarantee or real
nt Co., estate business; no
Ltd. participation in
initiation or
management of
public or private
securities
investment funds or
invest in financial
derivatives),
investment
management(exclud
ing financial and
brokerage business.
Shall not raise, sell
or transfer private
placement products
or private placement
product earning
rights from or to
unqualified
investors). (If the
aforesaid businesses
are conducted, the
market entity may
not raise funds
publicly, take public
deposits or issue
loans; may not
publicly trade
securities
investment products
or financial
derivatives; may not
deal in financial
products, wealth
management
products or related
derivative
businesses);
financial advisory
(excluding finance
company business);
wealth management
consulting and
enterprise
reorganization
consulting; market
survey (excluding
state secrets and
personal privacy);
credit investigation,
technology
development and
transfer, technical
consulting services
[for business items
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subject to approval
according to law, no
business activities
may be conducted
without approval of
competent
authorities].
Import and export
business (subject to
the catalogue of
import and export
commodities
approved by the
Ministry of Foreign
Trade and
Economic
Cooperation of the
People’s Republic
of China); feed and
drug additive sales;
feed raw material
management;
enterprise
management
consulting services;
agricultural
products
procurement; crop
planting and sale of
agricultural
Shandong
products; lease of
New
plant and - -
Hope Subsid 3,811,76 28,498,197, 6,795,150,8 33,406,258,
equipment; 112,593,21 112,767,67
Liuhe iary 4,705.00 410.24 15.70 188.16
operations limited 6.35 7.66
Group
to branches: meat
Co., Ltd.
processing and
sales; production,
processing and sales
of feed raw
materials, veterinary
medicine and
chicken auxiliary
materials; livestock
and poultry
compound feed,
concentrated feed;
processing,
hatching,
production and
management of
breeding birds;
breeding chicken
breeding technology
advisory services;
technical inspection
of quality of poultry
meat products; grain
purchase; animal
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breeding and
rearing; veterinary
consultation;
catering chain
operation; storage
services (excluding
dangerous goods
and prohibited
goods); enterprise
management
education and
training; food
management. [No
business activities
of items subject to
approval in
accordance with the
law until so
approved by
relevant
authorities].
Licensed items:
food production;
production of grain-
processed food;
food operation (sale
of prepackaged
foods); food
operation (sale of
bulk foods); food
import and export;
dealing in
veterinary drugs;
import and export of
goods; import and
export of
technology (for
Sichuan
business items
New
subject to approval
Hope Subsid 4988710 18,478,191, 7,591,794,6 15,836,595, 137,211,98 89,166,648.
according to law, no
Liuhe iary 000 078.47 06.50 180.23 4.55 18
business activities
Farming
may be conducted
Co., Ltd
without approval of
competent
authorities, with
specific business
items subject to
approval documents
or permits from
related
department)general
items: biological
feed research and
development; sale
of feed ingredients;
sale of feed
additives; sale of
livestock and
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fishery feeds; cereal
sales; sale of
agricultural and
sideline products;
corporate
headquarters
management;
enterprise
management;
technical services,
technology
development,
technical
consulting,
technical exchange,
technology transfer
and technology
promotion (except
for business items
subject to approval
according to law,
business activities
are to be conducted
at its sole discretion
according to law by
virtue of business
license.
Acquisition and disposal of subsidiaries during the reporting period
applicable □not applicable
Way of acquisition and disposal of Impact on overall production, operation
Company name
subsidiaries during the reporting period and performance
Wuhan Fenglan Animal Nutrition
Established by investment Loss of 182,418.10 yuan
Technology Co., Ltd.
Qiandongnan Xinnong Technology Co.,
Established by investment Profit of 194,066.61 yuan
Ltd.
Liaocheng New Hope Liuhe Down Co.,
Established by investment Loss of 627,510.87 yuan
Ltd.
Heze New Hope Liuhe Down Co., Ltd. Established by investment Loss of 109,919.92 yuan
Qingdao Xinmu Zhikang Biotechnology
Established by investment Loss of 89,661.64 yuan
Co., Ltd.
Sihui Shengyuan Agricultural
Transfer Profit of 4,954,893.96 yuan
Development Co., Ltd.
Gaomi Liuhe Pig Farming Co., Ltd. Transfer Loss of 4,778,315.16 yuan
Santai New Hope Farming Financing
Transfer Profit of 2,361,062.55 yuan
Guarantee Co., Ltd.
Gaoqing Liuhe Longda Feed Co., Ltd. Deregistered Profit of 131,834.88 yuan
Zhenjiang Hongjing Agricultural
Deregistered No impact
Technology Co., Ltd.
Anshan Xinliu Breeding Poultry Co.,
Deregistered No impact
Ltd.
Jiuquan New Hope Farming Technology
Deregistered No impact
Co., Ltd.
Panjin New Hope Liuhe Breeding
Deregistered No impact
Poultry Co., Ltd.
Xiao County Datun Breeding Co., Ltd. Deregistered No impact
Lhasa New Hope Farming Technology Deregistered Profit of 31,466.36 yuan
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Co., Ltd.
Wushan County New Hope Swine
Deregistered Loss of 2,656,240.41 yuan
Breeding Technology Co., Ltd.
Hubei Xinliu Breeding Co., Ltd. Deregistered Loss of 16,461.15 yuan
Guilin Gongcheng Xinyue Farming
Deregistered Loss of 2,485,635.04 yuan
Technology Co., Ltd.
Langfang Xinliu Farming Technology
Deregistered Loss of 3,854,158.98 yuan
Co., Ltd.
Ruzhou New Hope Liuhe Feed Co., Ltd. Deregistered Loss of 95,163.12 yuan
Remarks on major majority-owned and minority-owned subsidiaries
As Shandong New Hope Liuhe Group Co., Ltd. Had a business combination under common control during the current period, the
relevant statements have been restated to include the assets, liabilities, net profit and comprehensive income of the combined
business.
IX. Structured entities controlled by the company
□applicable not applicable
X. Risks faced by the company and countermeasures
I. Animal disease and natural disaster risks
Animal disease is the main risk faced in the development of livestock industry. There are three kinds of risks arising out of
the occurrence of epidemic disease. First, the occurrence of epidemic disease is likely to result in death of livestock, directly
leading to reduction in production, rising costs and drop in prices. Second, the occurrence and prevalence of animal disease on a
large scale easily influence the consumer psychology, lead to shrinking downstream market demands, and affect the feed
production and operation. For example, the first outbreak of African Swine Fever in China in middle 2018 caused a huge shock to
the whole industry. Although the industry initially explored the prevention, control and treatment methods of comprehensive bio-
safety prevention and control combined with precise elimination in 2019 and 2020, ASF experienced a weakened mutation at the
turn of winter and spring between the end of 2020 and beginning of 2021, making it more spread channels, longer incubation time,
and more difficult to detect and eliminate. In recent years, ASF has gradually become normal, especially in winter and early spring
when the temperature is low, the impact is particularly serious in the north of China. Since 2022, avian influenza outbreaks have
continued in Europe, North America and South America, which have had a major impact on poultry production and natural birds.
Although the current round of avian influenza epidemic has not been large-scale outbreak in China, it still affects the introduction
of grandparental breeding chickens in China.
In terms of the natural disaster risk, the feed and slaughter are closely related to planting and livestock breeding industry, so
the natural disasters such as temperature anomalies, drought, flood, earthquake, hail, and snow disaster will all adversely affect the
industry operation and development. The natural disasters occurring on the production bases of the company and surrounding
areas may cause substantial damages to production facilities or equipment, and the natural disasters and extreme climate may also
drive the prices of some feed ingredients and meats up. For example, the continuous high temperature and low rainfall in many
provinces in southwest China in middle 2022 led to the continuous development of drought in some regions, which led to the
“power shortage” in many provinces in south China, and had various degrees of impact on planting, breeding and other links in the
industrial chain. In terms of planting, the drought in some regions reduced the production of feeds crops, which will have an
impact on the price of feed ingredient and decrease the quality. In terms of breeding, for example, aquaculture exposed to hypoxia
caused by high temperature, which affected the feeding and growth of fish, shrimp and crabs, and led to production decrease. Due
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
to the drought, water shortage and power limit, the use of breeding facilities and equipment was limited to a certain extent, causing
losses to breeding enterprises and farmers, and affecting the feed sales of the company.
Risk countermeasures: in the face of animal disease, the livestock farms planned and constructed by the company’s breeding
base are normalized and standardized farms staffed with professional breeding technologists and equipped with strict anti-
epidemic measures to effectively prevent and control the occurrence of epidemic diseases. The company has also summarized
some experience and measures responding to major animal diseases through years of exploration and accumulation, which allow
the company to eliminates the impact of various animal diseases by adjusting the product mix when appropriate, improving the
product quality, conducting deep market development actively and reducing the costs. Since 2014, the company has been guiding
technicians to better serve farmers farmers and staffs of self-run farms by establishing animal healthcare laboratories in various
areas, creating the cloud-based animal healthcare system, and conducting the monitoring and warning of animal diseases in real
time. In view of ASF outbreak in 2018, the company formulated all-round and system-wide prevention and control measures,
covering existing self-run pig farms, fattening farms in cooperation with farmers, pig feed production plant and internal animal
healthcare laboratories, with a view to ensuring proper prevention and control at the source of animal nutrition. Meanwhile,
actively participating in industry exchanges and exploring more effective containment methods with peers allowed the company’s
bio-safety prevention system, pig survival rate and marketing rate to achieve industry-leading levels. From the end of 2020 to the
beginning of 2021, the outbreak of a new round of attenuated ASF in many northern provinces brought new challenges to the
approach formed in the industry on the basis of the past prevention and control of ASF at the initial stage of the outbreak. However,
the company continued summing up its experiences and upgrading containment and decontamination methods in the containment
process, including whole-herd serum double-antibody and double-screening, application of thermal imagers, and static attenuation
and disinfection of materials; and the company added up its containment processes then subtracted so as to avoid slackness
resulting from prolonged and excessively trivial containment processes, which helped restore normal production faster while
ensure containment, as well as reduce bio-safety containment costs at the same time. For the risk of avian influenza and other
epidemics, the company has established systematic prevention and control measures. The company’s poultry breeding business
has always adhered to strict bio-safety measures, and provided cooperative farmers with “water quality testing”, material line
washing and other free services, as well as standardized production process guidance in bio-safety prevention and control, to
ensure long-term stable operation of production and operation.
In response to natural disasters, the company’s extensive business portfolio and presence both at home and abroad help
ensure that the company’s business will not be materially affected when natural disasters occur in particular regions. Especially for
the rainstorms and floods in south China, which have occurred frequently in these years, the company has accumulated a large
wealth of experience, establishes proven contingency plans and maintains sufficient flood prevention supplies in stock at all times,
which allow the company to flexibly guide farmers through production plan adjustments when the flood season begins in
preparation for disaster relief together. At the same time, the company can also take the advantage of its nationwide presence to
allocate funds, raw materials, equipment, and staff timely and effectively to resume production as soon as possible and reduce the
losses caused by natural disasters. In response to natural disasters such as heavy rains and floods occurred frequently in southern
China in recent years and the sudden drought in southwest China in 2022, the company has actively established emergency plans,
stored sufficient response materials in advance, and flexibly guided farmers to adjust their production plans, so as to achieve
disaster mitigation and relief at the same time.
II. Risk of price fluctuations of feed ingredients
The cost of main feed ingredients for feed production accounts for more than 90% of total cost of feed production. In the past,
the proportion of feed business in the company’s revenue was large, but as the feed industry generally adopts the cost-plus pricing
method, the fluctuations in prices of feed ingredients can be partly transmitted to the downstream breeding operations, to relieve
the pressure from the rising prices of feed ingredients. However, with a growing percentage of livestock breeding business in the
company’s revenue, the rising prices of feed ingredients will have a growing impact on the company.
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Since 2020, due to various factors such as the macroeconomic situation at home and abroad, international trade relations and
storage policies and crop yield in main grain-producing areas of various countries, the prices of main feed ingredients such as corn
and soybean meal continuously rose. The outbreak of international geopolitical conflict in early 2022 further pushed up global
agriculture commodity price. Moreover, considering the background of longtime existence of ASF in China, the feed enterprises
will reduce some high-risk feed ingredients for the safety of animal nutrition, such as usage of corn, pig blood, and pig bone meal,
so as to make the demand for raw materials concentrate on other types of raw materials, which will also lead to rise in prices of
such alternative raw materials. In the first half of 2023, the price of the world’s main feed raw materials fluctuated continuously in
the overall downward trend, which also increased the difficulty of procurement.
Risk countermeasures: the company is the largest feed enterprise in China, with scale advantages and a considerable
bargaining power in the raw material procurement. Since 2020, the company applied hedging tools more to control the ingredient
price fluctuation risk. In 2021, the company further reinforced centralized management of raw material procurement across the
industry and reduced feed use cost through processing in bonded zones and other methods. In 2022, the company actively
purchased imported low-price ingredients and alternative ingredients such as wheat, sorghum and brown rice to continually
optimize ingredient costs. At present, the company has established strategic partnerships with many domestic and overseas best-
run raw material suppliers, while actively exploring domestic and foreign high-quality and safe local raw materials, and opening
up the raw material supply network at home and abroad, conducted the supply chain financing of various forms actively, and
optimized its purchasing cost and related financial expenses.
III. Risk of price fluctuations of livestock and poultry
The finished products of livestock and poultry breeding business of the company mainly include breeding pig, piglet, hog,
baby chick, baby duck, white feather broiler and white feather duck. In recent years, the pig farming business of the company has
been growing rapidly, with 14.61 million hogs sold and more than 390 million self-raised and outsourced commercial chicken and
ducks in 2022, which allowed the livestock and poultry breeding to contribute greater to the entire revenue and profits of the
company. Along with the further growth of breeding volume of the company in the future, the prices of livestock and poultry will
affect the levels of revenue and profits of the company even more remarkably.
In the first half of 2023, the domestic livestock and poultry market as a whole was hovering at the bottom. In terms of pig
business, domestic pig prices continued to fall since the beginning of the year, and were below 15 yuan /kg for most of the first
half of the year.
In terms of poultry business, in the first quarter of 2023, due to the mismatch between supply and demand caused by macro-
policy adjustment, it experienced a short-term price rebound. The price of raw white feather broiler and raw white feather duck
recovered quickly from the trough to about 11 yuan/kg at the highest. In the second quarter, the industry output gradually
recovered, and affected by external macro factors, the price of chicken and duck began to fall to about 8.6 yuan/kg at the lowest.
Risk countermeasures: the process of livestock and poultry prices going down itself is a process of the survival of the fittest in
the industry. When some participants withdraw, the total supply declines and the prices rise again, survived businesses are likely to
gain a greater market share and a higher return on investment than before. In recent years, the company has fully entered the stage
of robust operation in pig business, and is gradually improving its business operation efficiency, reducing farming costs and
restoring its original competitiveness by enhancing its internal management capabilities in many ways. On the other hand, unlike
most of agricultural and livestock companies, the company has slaughtering and food processing business at the downstream part
of farming and feed business at the upstream part of farming, which happens to hedge against the farming process. The price
decline of livestock and poultry means that the cost of raw meat in the slaughtering and processing businesses falls too and its
profit margin will be increased; the declining prices of livestock and poultry also mean the farming volume of livestock and
poultry is at high levels, which also helps increase the profitability of feed business. Such an industry chain presence can
moderately mitigate the effects of declining prices of livestock and poultry on the company.
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IV. Impact of environmental protection policies
In recent years, the government and society have increasingly attached importance to environmental protection, and relevant
laws and regulations have been continuously introduced. Since 2014, China has adopted the Regulations on Pollution Prevention
and Control of Large-scale Livestock and Poultry Farming; in 2015, the new Environmental Protection Law came into effect; in
2016, the State Council issued the 13th Five-Year Plan for Ecological and Environmental Protection. Since 2018, the central
environmental protection inspectors have conducted several “follow-up reexaminations”, as the efforts to investigate pollution
caused by livestock farms were strengthened across the country, ordering some breeding households to shut down for
environmental remediation or close once for all due to their livestock farming facilities failing to meet the environmental standards
or discharging wastewater beyond the set standards. In 2020, in the context of the sharp shortage of domestic hog supply caused
by ASF, local governments have gradually relaxed the environmental protection requirements for farm construction in order to
promote the resumption of hog production to ensure supply. However, after 2021, as the hog production capacity gradually
recovered to the normal range, the environmental protection policies related to breeding returned to a more stringent situation.
These pressures from the environmental protection policies will force some livestock and poultry farms failing to meet the
environmental standards out of the market, and lead to reduced breeding quantities, which will have a certain impact on the
company’s feed business growth and its acquisition of hogs and poultry for slaughtering business, and will increase the cost of the
company’s investment in the construction of breeding capacity. In the long run, however, the withdrawal of backward production
capacity that does not meet the environmental standards will allow the best-run producers that remain in the industry to acquire
higher profitability, which is still of a positive significance to the entire industry.
Risk countermeasures: in light of the changes in breeding market, the company makes every effort to maintain existing
customers on the one hand, and strengthens its cooperation with medium and large-sized farms and farmers that meet the
environmental standards by changing its feed marketing model and utilizing its industrialized supporting and integrated services.
While exploring a new way of breeding, the company regards ecology, environmental protection, efficiency and safety as primary
considerations in its project design, helps farmers remodel and build sheds and stalls that meet the higher environmental standards,
increase the profitability of breeding business and actively drive the domestic livestock and poultry farming industry to grow
healthily. On the other hand, the company actively grows its inventories by cultivating new livestock and poultry farming bases in
areas with environmental conditions through construction, acquisition, joint venture and cooperation using its existing business
portfolio across the country, thus ensuring the stability of its breeding resources.
V. Risk of food safety
Food safety concerns the physical health and life safety of the general public, and is even a matter of life and death for food
companies. The implementation of the revised Food Safety Law in 2015 also means that China has brought its focus on food safety
to an unprecedented level. The outbreak of ASF in 2018 raised even more demanding requirements for food safety control, and
more costs need to be invested in ASF prevention and control in the process of pig recycling and slaughter, pork transportation and
trafficking. In 2019, the State Council issued the Opinions on Deepening Reforms and Strengthening Food Safety Efforts, making
clear the need to further beef up food safety efforts and ensure the “safety on the dining table” of the general public with the most
rigorous standards, the most stringent oversight, the most severe penalties and the most serious accountability.
Risk countermeasures: the company has always been highly concerned about food safety by seriously ensuring food safety in
each link of its business practices. In 2015, the company established its Safety and Environmental Protection Department to ensure
safety, health and environmental protection. In 2022, the company further separated the Food Safety and Quality Management
Department from the Safety and Environmental Protection Department, making the latter focus more on food safety-related work.
The company has established its food safety management system and safety traceability system for the whole industrial chain from
feed, breeding, farming to food, and conducted the whole process of safety supervision from the front end of the supply chain to
the end, forming the three-level safety and quality management system and the three-level safety and quality audit system
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including Food Safety and Quality Management Department of the headquarters, Food Safety Management Line of BUs and
Safety and Quality Department of branch companies and subsidiaries.
The company has improved its level of food safety related work by participating in international cooperation, and passing the
relevant industry standards certification. In 2016, the company passed the food technical standard certification issued by the
British Retail Council (BRC), and was elected the Vice President of the China Council of the Global Food Safety Initiative (GFSI),
becoming the first Chinese private enterprise to be selected as a member of the global board of directors of GFSI. At present, all
food businesses of the company have passed China-HACCP certification, and more than 60 food companies are completing the
BRC and Global-GAP certifications in succession. In addition, the company systematically explores the antibiotic-reducing and
antibiotic-free possibilities in cooperation with multiple parties using the GFSI platform resources, and actively drives the
popularization of antibiotic-reducing and antibiotic-free successful cases. In recent years, the company’s achievements in the field
of food safety and quality management have been fully recognized by the industry. It has been awarded the title of “2021-2022
Food Safety Integrity Unit” by China Food Safety Conference, “2022 Annual Quality Golden Shield Case” by China Quality Press,
“Model Unit in China Meat Food Safety Integrity System Construction” by China Meat Association, and “2022 Food Safety
Science and Technology Innovation Award” by China Animal Health and Food Safety Alliance.
VI. Risk of exchange rate fluctuations
Currently, the globalization of raw material procurement for feed production is improved sharply, and the feed enterprises
have been increasingly affected by the exchange rate in terms of feed ingredients purchasing centered on foreign supply such as
corn, soybean, whey powder, fish meal and DDGS. At the same time, as the company expands its presence abroad, in the foreign
investment and overseas operations, the cross-border capital transaction and settlement amounts involved are growing, thus
making the company more vulnerable to exchange rate fluctuations. In recent years, due to the impact of factors such as
geopolitics and foreign exchange policy adjustments, the currencies of some host countries where the company operates
experienced extraordinary fluctuations, and the exchange rate of these currencies against the US dollar has dropped sharply,
combined with the trend of US dollar interest rate increase, which poses a great challenge to foreign exchange management and
operational difficulties of the company.
Risk countermeasures: in response to the growing needs for overseas raw material procurement and investment and operation,
the company has been building its Singaporean branch into an overseas commercial and trading center and investment and
financing center, actively conducted international centralized procurement of raw materials, foreign direct financing, supply chain
finance, foreign exchange risk management, funds management and raw materials purchasing risk management to reduce the
impact of exchange rate fluctuations on its cash flow in overseas operations. In the context of the increasing uncertainty in the
macro environment and sharp exchange rate fluctuations in recent years, the company has reinforced efforts to improve the ability
of exchange rate forecasting and fund management, continued to pay attention to the dynamics of the Federal Reserve’s interest
rate hike, and guaranteed the value of funds through hedging and other means and tools. Meanwhile, the company further
strengthened its close connection and communication with overseas financial institutions, overseas agencies of the Chinese
government and host governments to analyze the trends of local currency exchange rates in host countries from time to time, make
financial arrangements and ease the adverse impact of exchange rate fluctuations by means of direct investment in local currency
abroad, etc.
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Section 4 Corporate Governance
I. Details of annual general meeting of shareholders and extraordinary general meeting of
shareholders held within the reporting period
1. General meetings of shareholders during this reporting period
Ratio of
Session Meeting type attending Date of meeting Date of disclosure Meeting resolution
investors
Refer to the “Announcement
of Resolutions of the First
Extraordinary General
The 1st Meeting of 2023” (No. 2023-
extraordinary Extraordinary 04) published by the company
55.89% Jan. 13, 2023 Jan. 14, 2023
general meeting general meeting on China Securities Journal,
of 2023 Securities Daily, Securities
Times, Shanghai Securities
News and www.cninfo.com on
January 14, 2023 for details.
Refer to the “Announcement
of Resolutions of the Annual
General Meeting of 2022”
(No. 2023-48) published by
Annual general
Annual general the company on China
meeting of 55.89% May 22, 2023 May 23, 2023
meeting Securities Journal, Securities
2022
Daily, Securities Times,
Shanghai Securities News and
www.cninfo.com on May 23,
2023 for details.
2. Extraordinary general meetings of shareholders requested by preferred shareholders with voting
rights restored
□applicable not applicable
II. Changes in directors, supervisors, and senior executives
applicable □not applicable
Name Position held Type Date Reason
Han Bin Supervisor Elected May 22, 2023 Elected
Ji Yueqi Supervisor Separated May 22, 2023 Personal reason
Director of human
Huang Kun Dismissed Jun. 29, 2023 Job change
resources
III. Profit distribution and conversion of capital reserves into share capital within the
reporting period
□applicable not applicable
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The company plans not to distribute cash dividends or allot bonus shares or transfer its capital reserve to share capital in the first
half of the year.
IV. Implementation of equity incentive plans, employee stock ownership plans or other
employee incentives
applicable □not applicable
1. Equity incentives
(1) At the 4th meeting of the 9th board of directors, the 3rd meeting of the 9th board of supervisors and the second
extraordinary general meeting in 2022, the company deliberated and approved the Proposal on Failure in Meeting the Lifting
Conditions in the Third Lifting Period under the Restricted Stock and Stock Option Incentive Plan 2019 and Repurchase and
Cancellation of Restricted Stocks, agreeing to repurchase and cancel a total of 438,750 restricted stocks held by 15 incentive
beneficiaries under the Incentive Plan 2019. At the 4th meeting of the 9th board of directors and the 3rd meeting of the 9th board
of supervisors, the company deliberated and approved the Proposal on Cancellation of Stock Options under the Restricted Stock
and Stock Option Incentive Plan 2019, agreeing to cancel a total of 2,047,500 stock options not exercised by 15 incentive
beneficiaries under the Incentive Plan 2019 within the second exercise period. The company handled and completed the
repurchase and cancellation formalities for these restricted stocks and cancellation for the stock options with CSDC Shenzhen on
February 1, 2023.
At the 12th meeting of the 9th board of directors, the 9th meeting of the 9th board of supervisors and the annual general
meeting of 2022 of the company, the Proposal on Failure in Meeting the Lifting Conditions in the Fourth Lifting Period under the
Restricted Stock and Stock Option Incentive Plan 2019 and Repurchase and Cancellation of Restricted Stocks was deliberated and
approved. Given that the net profit of the company in 2022 was negative, not meeting the performance assessment requirements
set in the fourth lifting period under the Incentive Plan 2019, the company decided to repurchase and cancel a total of 438,750
restricted shares held by 15 incentive beneficiaries under the Incentive Plan 2019 that have not been released for sale in
accordance with the relevant provisions of the Measures for the Management of Equity Incentives of Listed Companies, Shenzhen
Stock Exchange Listed Companies Self-Regulatory Guide No. 1 - Business Handling Part III: 3.2 Equity Incentives, Restricted
Stock and Stock Option Incentive Plan 2019 (Draft) and the Assessment Management Measures of Restricted Stock and Stock
Option Incentive Plan 2019. The company handled and completed the repurchase and cancellation formalities for these restricted
stocks with CSDC Shenzhen on August 3, 2023.
(2) At the 15th meeting of the 9th board of directors and the 11th meeting of the 9th board of supervisors, the Proposal on
Granting Reserved Restricted Stock to Incentive Beneficiaries was deliberated and approved. In accordance with the relevant
provisions of the Measures for the Management of Equity Incentives of Listed Companies and the Restricted Stock Incentive Plan
2022 and the authorization of the company’s annual general meeting of 2021, the board of directors of the company held that the
reserved grant conditions stipulated in the Restricted Stock Incentive Plan 2022 had been fulfilled, agreed on the reserved grant
date of this Incentive Plan as May 30, 2023, and agreed to reserve 8.095 million restricted shares for 377 incentive beneficiaries
meeting the grant conditions at a reserve grant price of 7.98 yuan/share. The company handled and completed the registration of
the reserved grant of this Restricted Stock Incentive Plan at CSDC Shenzhen on July 24, 2023 and the listing date of the restricted
stock is July 25, 2023.
2. Implementation of employee stock ownership plans
applicable □not applicable
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Any and all employee stock ownership plans valid within the reporting period
Proportion in the
Total
Scope of Number of Record of total capital stock Source of funds for the plan
shareholding
employees employees change of the listed implementation
(shares)
company
Supervisor and
core staff of the A-share ordinary shares
company repurchased by the company
2,200 40,933,250 None 0.90%
(including using the special securities
majority-owned account
subsidiaries)
Shareholding of director, supervisor and senior executives under the employee stock ownership plan within the reporting period
Proportion in the total
Beginning Ending shareholding
Name Position capital stock of the
shareholding (shares) (shares)
listed company
Chairman of board of
Xu Zhigang 60,000 60,000 0.00%
supervisors
Duan Peilin Supervisor 40,000 40,000 0.00%
Change of asset management organization within the reporting period
□applicable not applicable
Change in equity within the reporting period due to holder’s disposal of the shares
□applicable not applicable
Exercise of shareholders’ rights within the reporting period
No exercise of shareholders’ rights under employee stock ownership plan within the reporting period.
Other circumstances and notes to employee stock ownership plan within the reporting period
applicable □not applicable
The Employee Stock Ownership Plan 2022 is still in the lock-up period, and the share of the departed personnel has been handled
in accordance with the provisions of the Management Measures for the Employee Stock Ownership Plan 2022 of New Hope Liuhe
Co., Ltd. (Revision).
Change in members of Employee Stock Ownership Plan Management Committee
applicable □not applicable
The first holder meeting of the company’s ESOP 2022 was held on August 26, 2022, deliberating and approving the Proposal
on the Election of Members of the Management Committee of the Employee Stock Ownership Plan 2022 of New Hope Liuhe Co.,
Ltd., and agreeing to elect Zhang Minggui, Chen Xingyao and Huang Kun as members of the Management Committee of the
Employee Stock Ownership Plan 2022 for a same length of term of office as the duration of the ESOP 2022.
The second holder meeting of the company’s ESOP 2022 was held on July 20, 2023, deliberating and approving the Proposal
on the Election of Members of the Management Committee of the Employee Stock Ownership Plan 2022 of New Hope Liuhe Co.,
Ltd. The Management Committee received a written resignation report submitted by Ms. Huang Kun, a member of the committee.
Ms. Huang Kun requested to resign as a member of the Management Committee of the Employee Stock Ownership Plan due to
other work arrangements of the company. According to the relevant provisions of the Management Measures for the Employee
Stock Ownership Plan 2022 of New Hope Liuhe Co., Ltd., Ms. Huang Kun’s resignation would result in the number of members of
the Management Committee being lower than the number specified in the Plan. In order to ensure the smooth deployment of the
ESOP work, it’s agreed to elect Ms. Wang Jing as a member of the ESOP 2022 Management Committee for a same length of term
of office as the duration of the ESOP 2022.
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Financial impact of employee stock ownership plan on the listed company within the reporting period and relevant accounting
treatment
applicable □not applicable
According to the Accounting Standards for Business Enterprises No. 11 - Share-based Payment, in case of equity-settled
share-based payment in exchange for employee services that are feasible upon completion of services within the waiting period or
meeting specified performance conditions, at each balance sheet date of the waiting period, services acquired during the period
shall be credited to the relevant costs or expenses and capital reserves at the fair value of the grant date of the equity instruments
based on the best estimate of the number of available equity instruments. The company will conduct corresponding accounting
treatment in accordance with the relevant provisions of the Accounting Standards for Business Enterprises. The company’s ESOP
2022 expense amortization amount was 66,639,331.00 yuan during the reporting period.
Termination of employee stock ownership plan within the reporting period
□applicable not applicable
Other remarks:
None
3. Other employee incentive measures
□applicable not applicable
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Section 5 Environmental and Social Responsibilities
I. Major environmental issues
Whether the listed company and its subsidiaries are key emitters announced by the environmental protection department
yes □no
Environmental protection related policies and industrial standards
Environmental protection related policies and industrial standards
1 Discharge standard of water pollutants for meat packing industry (GB 13457-1992)
2 Water quality standards for sewage discharged into urban sewers (GB/T 31962-2015)
3 Emission standards for odor pollutants (GB 14554-1993)
4 Comprehensive Emission Standards for Regional Air Pollutants (DB37/ 2376-2019)
5 Emission standard of air pollutants for boiler (GB 13271-2014)
6 Boiler Air Pollutant Emission Standards (DB37/ 2374-2018)
7 Catering Industry Fume Emission Standards (DB37/597-2006)
Administrative licenses for environmental protection
Pollutant Discharge Permit
Company name Issuing date Expiry date
No.
Dec. 31,
Linyi Liuhe Food Co., Ltd. 91371424690608012M001Y Jan. 1, 2022
2026
Lanling New Hope Liuhe Hongjun Food Co., Ltd. 91371324074412809A001Z Jan. 6, 2022 Jan. 5, 2027
Pingyi Refrigeration Factory of Shandong New Hope Liuhe Group Dec. 30, Dec. 30,
91371326730643307N001X
Co., Ltd. 2021 2026
Sept. 15, Nov. 28,
Qingdao Tianrun Food Co., Ltd. 9137028373726158XG001R
2021 2026
Nov. 15, Nov. 15,
Xiaoyi New Hope Liuhe Food Co., Ltd. 911411815684736446001P
2021 2026
Dec. 31, Dec. 30,
Yishui New Hope Liuhe Food Co., Ltd. 91371323676832608P001Q
2021 2026
Apr. 25, Apr. 24,
Guantao Liuhe Food Co., Ltd. 911304338720976263001W
2023 2027
Dec. 15, Dec. 14,
Binzhou Liuhe Longda Farming Co., Ltd. 91371600780754056D001X
2021 2026
Wudi Liuhe Xinyang Food Co., Ltd. 913716237892643444001W Dec. 2, 2021 Dec. 1, 2026
Dec. 16, Dec. 15,
Zouping Liuhe Livestock Co., Ltd. 9137162672075787X3001Y
2021 2026
Dec. 31,
Shan County Liuhe Feed Co., Ltd. Food Branch 91371722054960365G001W Jan. 1, 2022
2026
Dec. 31,
Cao County Liuhe Food Co., Ltd. 91371721668055386B001Y Jan. 1, 2022
2026
91370829MA3C7NQJ53001 Dec. 11, Dec. 10,
Jiaxiang New Hope Liuhe Food Co., Ltd.
V 2021 2026
Dec. 14, Dec. 13,
Yuncheng Liuhe Food Co., Ltd. 913717257939188497001R
2021 2026
Nov. 30, Nov. 29,
Anshan Liuhe Food Co., Ltd. 91210321664575659M001R
2021 2026
Dec. 22, Dec. 21,
Panjin Liuhe Farming Co., Ltd. 91211121696196493W001R
2021 2026
Sept. 11, Sept. 10,
Dong’e Liuhe Lvjia Food Co., Ltd. 91371524554382151H001Y
2021 2026
Shen County New Hope Liuhe Qingsizhai Food Co., Ltd. 91371522081794657Y001X Dec. 7, 2021 Dec. 6, 2026
Aug. 31, Aug. 30,
Yanggu Liuhe Luxin Food Co., Ltd. 91371521684826830M001Q
2021 2026
Dec. 31,
Weifang Tianhui Food Co., Ltd. 913707837961923691001R Jan. 1, 2022
2026
Weifang Heshengyuan Food Co., Ltd. 91370784771026284D001X Dec. 31, Dec. 30,
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
2021 2026
Sept. 30, Sept. 29,
Luoyang Liuhe Huiquan Food Co., Ltd. 914103816794610724001P
2021 2026
91410621MA3X68M315001 Nov. 28, Nov. 27,
Hebi Liuhe Zhizhen Food Co., Ltd.
Y 2021 2026
Dec. 24, Dec. 23,
Laiwu New Hope Liuhe Food Co., Ltd. 91371202082953517U001Q
2021 2026
Dec. 31,
Dezhou Liuhe Zhikang Food Co., Ltd. 91371421673188095B001W Jan. 1, 2021
2026
Sept. 8, Sept. 7,
Fei County Liuhe Huahai Food Co., Ltd. 913713255903361016001Y
2021 2026
Dec. 12, Dec. 11,
Fuxin Liuhe Farming Co., Ltd. Food Branch 91210900749795052A001V
2021 2026
91410927MA483TF88Y001 Mar. 21, Mar. 20,
Taiqian New Hope Liuhe Luxin Food Co., Ltd.
V 2022 2027
Dec. 11, Dec. 10,
Laoting Liuhe Xinmeizi Food Co., Ltd. 91130225590963076Q001Z
2021 2026
Qixia Refrigeration Factory of Shandong New Hope Liuhe Group Nov. 25, Nov. 24,
91370686731690885C001Z
Co., Ltd. 2022 2027
Aug. 27, Aug. 26,
Laiyang Tianye Food Co., Ltd. 913706826705109232001Y
2021 2026
Aug. 15, Aug. 14,
Tai'an Taishan Liuhe Food Co., Ltd. 9137090066443838XT001U
2022 2027
Apr. 30, Apr. 29,
Shandong New Hope Liuhe Group Co., Ltd. Linyi Branch 913713127232785168001Q
2022 2027
Qingdao Liuhe Wanfu Food Co., Ltd. 91370285697168937U001W Dec. 7, 2021 Dec. 6, 2026
Jun. 15, Jun. 14,
Fenxi New Hope Liuhe Food Co., Ltd. 911410346966540364001R
2022 2027
Nov. 26, Nov. 25,
Pingyi Liuhe Fada Food Co., Ltd. 91371326672203062C001Y
2021 2026
Linyi Liuhe Hongchen Farming Co., Ltd. 91371300684847260M001Q Dec. 8, 2021 Dec. 7, 2026
Nov. 28, Nov. 27,
Beijing Kinghey Food Co., Ltd. 91110000741567725K001Z
2022 2027
Dec. 14, Dec. 13,
Hebei Kinghey Meat Industry Co., Ltd. 91130581776166315U001Z
2021 2026
Dec. 20, Dec. 19,
Liaoning Kinghey Food Co., Ltd. 91210113784575311A001Y
2021 2026
Oct. 18, Oct. 17,
Chengdu Hope Food Co., Ltd. 91510132621702689Y001P
2021 2026
Shandong Kinghey Food Co., Ltd. 91371427MA3RH2YL3A001 Aug. 6, 2021 Aug. 5, 2026
V
Industrial emission standards and details of pollutant discharge involved in production and business activities
Cate
gory
of
maj
or
Name of
poll Numb Total
Name of major Distribu Pollutant Exces
utan Way of er of Emission Total approve
company pollutants tion of emission sive
ts discharg discha concentration/ emissio d
or and discharg standards emissi
and e rge intensity ns emissio
subsidiary particular e outlets applied on
parti outlets ns
pollutants
cula
r
poll
utan
ts
Linyi Gas Waste gas: Waste 6 (5 Waste COD: Discharge COD: COD:
Liuhe poll nitrogen gas: for gas: east 450mg/L standard of 0.48375 0.48375 None
Food Co., utan oxide, directly waste side of TN: 50mg/L water 3t/a; 3t/a;
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Ltd. ts, particulate discharg gas, 1 the NH3-N: pollutants NH3-N: NH3-N:
liqui matter, ed after for compan 35mg/L for meat 0.01754 0.01753
d sulfur treatmen waste y’s plant TP: 6mg/L packing 8t/a 748t/a
poll dioxide, t water) pH: 6-8.5 industry
utan hydrogen Wastewa Wastew SS: 200mg/L (GB 13457-
ts sulfide, ter: ater: BOD5: 1992)
ammonia, indirectl south 120mg/L Agreements
odor y side of Animal and with sewage
concentrati discharg the west vegetable oil: treatment
on ed gate of 50mg/L plants
the NOx: Emission
Wastewater compan 150mg/Nm standards
: COD, y SO2: for odor
ammonia 50mg/Nm pollutants
nitrogen, Dust: (GB 14554-
total 10mg/Nm 1993),
nitrogen, Emission
total standard of
phosphorus, air
pH value, pollutants
BOD5, for boiler
animal and (GB 13271-
vegetable 2014),
oil, Boiler Air
suspended Pollutant
solids, Emission
coliform Standards
groups (DB37/
2374-2018)
Waste gas: Boiler Air
ammonia Pollutant
(ammonia Emission
gas), Standards
hydrogen (DB37/
sulfide, 2374-2018),
odor Emission
concentrati standards
on, sulfur Waste for odor
dioxide, gas: pollutants
Ammonia
Gas nitrogen directly (GB 14554-
nitrogen
Lanling poll oxides, discharg 4 (3 1993)
<5mg/L, COD COD
New utan particulate ed after for Notice on
COD<50mg/L 13.1t/a, 13.1t/a,
Hope ts, matter, treatmen waste East Approval
; ammoni ammoni
Liuhe liqui Ringelman t gas, 1 side of and Release None
a a
Hongjun d blackness Wastewa for the plant of the
Boiler<50mg/ nitrogen nitrogen
Food Co., poll Wastewater ter: waste Modificatio
Nm, odor 1.3t/a 1.3t/a
Ltd. utan : COD, pH indirectl water) n List to 4
concentration
ts value, y Standards
2000mg/Nm,
dissolved discharg including
total solids, ed the
ammonia Comprehens
nitrogen ive
(NH3-N), Discharge
total Standards
nitrogen (in for Water
N), total Pollutants
phosphorus Along the
(in P), South-to-
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
suspended North Water
solids, Diversion
BOD5, Project in
flow rate, Shandong
animal and Province
vegetable (L.Z.J.B.F.
oil, total [2011] No.
coliform 35),
groups. Discharge
standard of
water
pollutants
for meat
packing
industry
(GB 13457-
1992)
Waste gas:
ammonia
(ammonia
gas),
Boiler Air
hydrogen
Pollutant
sulfide,
Emission
odor
Standards
concentrati
(DB37/
on, sulfur
2374-2018),
dioxide,
Emission
nitrogen
Waste standards
oxides,
gas: for odor
particulate
Waste northwe pollutants
matter,
Pingyi gas: st side (GB 14554- COD cr: COD cr:
Ringelman
Refrigerat Gas directly of the Ammonia 1993) 11.8t/a 11.8t/a
blackness
ion poll discharg 3 (2 plant nitrogen Water NH3-N: NH3-N:
Wastewater
Factory utan ed after for and 45mg/l quality 0.23t/a 0.23t/a
: COD, pH
of ts, treatmen waste within COD 500mg/l standards Total Total
value,
Shandong liqui t gas, 1 the plant Total for sewage phospho phospho None
dissolved
New d Wastewa for phosphorus discharged rus rus
total solids,
Hope poll ter: waste Wastew 8mg/l into urban 5.29t/a 5.29t/a
ammonia
Liuhe utan indirectl water) ater: Total nitrogen sewers Total Total
nitrogen
Group ts y northeas 70mg/l (GB/T nitrogen nitrogen
(NH3-N),
Co., Ltd. discharg t side of 31962- 46.3t/a 46.3t/a
total
ed the 2015),
nitrogen (in
compan Discharge
N), total
y standard of
phosphorus
water
(in P),
pollutants
suspended
for meat
solids,
packing
BOD5,
industry
flow rate,
(GB 13457-
animal and
1992)
vegetable
oil, total
coliform
groups.
Qingdao Gas Waste gas: Waste 8 (7 Waste COD: 40mg/l, Emission COD cr: COD cr:
Tianrun poll ammonia gas: exhau gas: 2 at NH3-N: Standards 16.94t/a 16.94t/a None
Food Co., utan (ammonia directly st gas the 2mg/l, TP: for Cooking NH3-N: NH3-N:
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Ltd. ts, gas), discharg discha northeas 0.4mg/l, TN: Fume in 0.85t/a 0.85t/a
liqui hydrogen ed after rge t side of 20mg/l, pH6- Catering Total Total
d sulfide, treatmen outlets the 8.5 Industry nitrogen nitrogen
poll odor t : plant, 1 (DB37/597- 8.26t/a 8.26t/a
utan concentrati Wastewa chicke at the 2005),
ts on, sulfur ter: n line southeas Comprehens
dioxide, indirectl sewag t side of ive
nitrogen y e the Emission
oxides, discharg regula plant, 3 Standards
particulate ed with tion in the for Regional
matter, stable tank, plant Air
dyeing and flow duck and 1 at Pollutants
finishing line the (DB37/
fumes sewag northwe 2376-2019),
Wastewater e st side Boiler Air
: COD, pH regula of the Pollutant
value, tion plant Emission
dissolved tank, Standards
total solids, chicke Wastew (DB37/2374
ammonia n line ater: -2018),
nitrogen works northwe Emission
(NH3-N), hop, st side standards
total duck of the for odor
nitrogen (in line compan pollutants
N), total works y (GB 14554-
phosphorus hop, 1993),
(in P), prepar Comprehens
suspended ed ive emission
solids, produ standard of
BOD5, ct air
flow rate, works pollutants
animal and hop, (GB 16297-
vegetable cantee 1996),
oil, total n, Environmen
coliform boiler tal quality
groups, room, standards
total salt and 1 for surface
content waste water (GB
water 3838-2002),
discha Discharge
rge standard of
outlet: water
compr pollutants
ehensi for meat
ve packing
waste industry
water (GB 13457-
discha 1992) ,
rge Standard for
outlet) irrigation
water
quality (GB
5084-2021),
Comprehens
ive
Discharge
Standard of
Water
68
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Pollutants in
Basin Part
5:
Peninsula
Basin
(DB37/3416
.5-2018)
Waste gas:
ammonia
(ammonia
Emission
gas), odor
standards
concentrati
for odor
on,
pollutants
hydrogen
(GB 14554-
sulfide
1993),
Wastewater
Waste COD: Water
: COD, pH COD cr: COD cr:
gas: 500mg/L quality
value, 139.59t/ 139.59t/
Gas directly TN: 70mg/L standards
dissolved a a
poll discharg NH3-N: for sewage
Yishui total solids, NH3-N: NH3-N:
utan ed after 45mg/L discharged
New ammonia Northwe 2.8t/a 2.8t/a
ts, treatmen TP: 8mg/L into urban
Hope nitrogen st side Total Total
liqui t 1 pH: 6-8.5 sewers None
Liuhe (NH3-N), of the nitrogen nitrogen
d Wastewa SS: 200mg/L (GB/T
Food Co., total plant 73.58t/a 73.58t/a
poll ter: BOD5: 31962-
Ltd. nitrogen (in Total Total
utan indirectl 250mg/L 2015),
N), total phospho phospho
ts y Animal and Discharge
phosphorus rus rus
discharg vegetable oil: standard of
(in P), 8.41t/a 8.41t/a
ed 50mg/L water
suspended
pollutants
solids,
for meat
BOD5,
packing
flow rate,
industry
animal and
(GB 13457-
vegetable
1992)
oil, total
coliform
groups.
Waste gas: Discharge
ammonia 8 (2 standard of
(ammonia boiler pollutants
gas), odor discha for
concentrati Waste rge municipal
on, gas: outlets wastewater
COD: 50
Gas hydrogen directly , 4 treatment
mg/L COD cr: COD cr:
poll sulfide, discharg odor plant (GB
BOD5: 8.115t/a 8.115t/a
utan fume ed after discha 18918-
Guantao Northwe 10mg/L NH3-N: NH3-N:
ts, Wastewater treatmen rge 2002)
Liuhe st side NH3-N: 0.812t/a 0.812t/a
liqui : COD, pH t outlets Discharge None
Food Co., of the 5mg/L SO2: SO2:
d value, Wastewa , 1 standard of
Ltd. plant SS: 10mg/L 2.276t/a 2.276t/a
poll dissolved ter: fume water
Animal and NOx: NOx:
utan total solids, indirectl outlet pollutants
vegetable oil: 6.829t/a 6.829t/a
ts ammonia y and 1 for meat
1mg/L
nitrogen discharg waste packing
(NH3-N), ed water industry
total discha (GB 13457-
nitrogen (in rge 1992)
N), total outlet) Standards
phosphorus for
69
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
(in P), irrigation
suspended water
solids, quality (GB
BOD5, 5084-2005)
flow rate, Emission
animal and standard of
vegetable air
oil, total pollutants
coliform for boiler
groups. (GB 13271-
2014)
Catering
Industry
Fume
Emission
Standards
(Tentative)
(GB18483-
2001)
Waste gas:
Emission
ammonia
standards
(ammonia
for odor
gas),
pollutants
hydrogen
(GB 14554-
sulfide,
1993)
odor
Boiler Air
concentrati
Pollutant
on,
Emission
particulate
Standards
matter,
(DB37/2374
sulfur
-2018)
dioxide,
Emission
Ringelman Waste
standard of
blackness, gas:
COD: 50 air
Gas nitrogen directly Waste
mg/L pollutants
poll oxide discharg 4 (3 gas: east
BOD5: for boiler
Binzhou utan Wastewater ed after for side of COD
10mg/L (GB 13271-
Liuhe ts, : COD, pH treatmen waste the plant 11.85t/a Not
NH3-N: 2014)
Longda liqui value, t gas, 1 Wastew applicab None
5mg/L Discharge
Farming d dissolved Wastewa for ater: NH3-N: le
SS: 10mg/L standard of
Co., Ltd. poll total solids, ter: waste west 0.65t/a
Animal and water
utan ammonia indirectl water) side of
vegetable oil: pollutants
ts nitrogen y the plant
1mg/L for meat
(NH3-N), discharg
packing
total ed
industry
nitrogen (in
(GB 13457-
N), total
1992)
phosphorus
Water
(in P),
quality
suspended
standards
solids,
for sewage
BOD5,
discharged
flow rate,
into urban
animal and
sewers
vegetable
(GB/T
oil, total
31962-
coliform
2015)
groups.
70
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Waste gas:
particulate
matters,
SO2, Nox,
odor
concentrati
on,
Emission
hydrogen
Waste standards
sulfide, COD:
gas: for odor
ammonia 500mg/L
Gas directly pollutants
(ammonia TN: 70mg/L
poll discharg (GB 14554- COD cr: COD cr:
gas) NH3-N:
Wudi utan ed after 1993) 5.63t/a 257.2t/a
Wastewater 45mg/L
Liuhe ts, treatmen Discharge NH3-N: NH3-N:
: COD, South of pH: 6-8.5
Xinyang liqui t 1 standard of 1.66t/a 23.1t/a None
ammonia the plant SS: 300mg/L
Food Co., d Wastewa water Total Total
nitrogen BOD5:
Ltd. poll ter: pollutants nitrogen nitrogen
(NH3-N), 250mg/L
utan indirectl for meat 3.19t/a 56t/a
total Animal and
ts y packing
nitrogen vegetable oil:
discharg industry
(N), BOD5, 50mg/L
ed (GB 13457-
pH value,
1992)
suspended
solids,
coliform
groups,
animal and
vegetable
oil
Emission
Waste gas:
standards
hydrogen
for odor
sulfide,
pollutants
ammonia
(GB 14554-
(ammonia
1993)
gas), odor
Waste COD: Water
concentrati
gas: 500mg/L quality
on
Gas directly Sewage TN: 70mg/L standards
Wastewater COD:
poll discharg discharg NH3-N: for sewage
: COD, 18t/a,
utan ed after e outlet 45mg/L discharged
Zouping ammonia NH3-N:
ts, treatmen at the TP: 8mg/L into urban Not
Liuhe nitrogen 2.6t/a,
liqui t 1 northeas pH: 6-8.5 sewers applicab None
Livestock (NH3-N), TP:
d Wastewa t corner SS: 200mg/L (GB/T le
Co., Ltd. total 0.3t/a,
poll ter: of the BOD5: 31962-
nitrogen TN:
utan indirectl compan 250mg/L 2015),
(N), pH 4.8t/a
ts y y Animal and Discharge
value,
discharg vegetable oil: standard of
animal and
ed 50mg/L water
vegetable
pollutants
oil, BOD5,
for meat
suspended
packing
solids,
industry
coliform
(GB 13457-
groups
1992)
Shan Gas Waste gas: Waste 4 (3 Waste COD: Boiler Air COD: COD:
County poll ammonia gas: for gas: 500mg/L Pollutant 405t/a, 405t/a,
Liuhe utan (ammonia directly waste northwe TN: 70mg/L Emission NH3-N: NH3-N: None
Feed Co., ts, gas), discharg gas, 1 st side NH3-N: Standards 28.35t/a, 28.35t/a,
Ltd. Food liqui hydrogen ed after for of the 21mg/L (DB37/ TN: TN:
71
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Branch d sulfide, treatmen waste plant TP: 8mg/L 2374-2018), 94.5t/a 94.5t/a
poll odor t water) Wastew pH: 6-8.5 Emission
utan concentrati Wastewa ater: SS: 300mg/L standards
ts on, sulfur ter: northeas BOD5: for odor
dioxide, indirectl t side of 250mg/L pollutants
nitrogen y the plant Total salt (GB 14554-
oxides, discharg content: 1993),
particulate ed 1600mg/L Ultra-low
matter, Emission
Ringelman No. 2
blackness Modificatio
Wastewater n List to
: COD, pH Shandong
value, Boiler Air
dissolved Pollutant
total solids, Emission
ammonia Standards
nitrogen (L.Z.J.B.F.
(NH3-N), [2016] No.
total 46),
nitrogen (in Comprehens
N), total ive emission
phosphorus standard of
(in P), air
suspended pollutants
solids, (GB 16297-
BOD5, 1996),
flow rate, Water
animal and quality
vegetable standards
oil, total for sewage
coliform discharged
groups. into urban
sewers
(GB/T
31962-
2015),
Notice on
Approval
and Release
of the
Modificatio
n List to 4
Standards
including
the
Comprehens
ive
Discharge
Standards
for Water
Pollutants
Along the
South-to-
North Water
Diversion
Project in
Shandong
72
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Province
(L.Z.J.B.F.
[2011] No.
35),
Notice on
Approval
and Release
of the
Modificatio
n List to
Add Total
Salt Content
Index Limit
in 4
Standards
including
the
Comprehens
ive
Discharge
Standards
for Water
Pollutants
Along the
South-to-
North Water
Diversion
Project in
Shandong
Province
(L.Z.J.B.F.
[2014] No.
7)
Emission
standards
Waste gas:
for odor
hydrogen
pollutants
sulfide,
(GB 14554-
odor
1993)
concentrati
Waste Water
on,
gas: COD: quality
ammonia
Gas directly 300mg/L standards
(ammonia
poll discharg NH3-N: for sewage
gas)
Cao utan ed after 21mg/L discharged COG:
Wastewater COD:
County ts, treatmen West pH: 6-8.5 into urban 15.84T/
: COD, 16T/a;
Liuhe liqui t 1 side of SS: 300mg/L sewers a None
ammonia NH3-N:
Food Co., d Wastewa the plant BOD5: (GB/T NH3-N:
nitrogen 8T/a
Ltd. poll ter: 250mg/L 31962- 7.04T/a
(NH3-N),
utan indirectl Animal and 2015),
suspended
ts y vegetable oil: Discharge
solids,
discharg 50mg/L standard of
BOD5,
ed water
animal and
pollutants
vegetable
for meat
oil, total
packing
coliform
industry
groups
(GB 13457-
1992)
73
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Emission
standards
for odor
pollutants
Waste gas:
(GB 14554-
odor
1993)
concentrati
Comprehens
on,
ive emission
ammonia
standard of
(ammonia
air
gas),
pollutants
hydrogen
(GB 16297-
sulfide,
1996),
particulate Waste
Discharge
matter, foul gas: Waste
standard of
Gas smell directly gas:
water
poll Wastewater discharg 5 (4 south
Jiaxiang COD: pollutants COD: COD:
utan : COD, ed after for and east
New 500mg/L, for meat 41.36t/a, 45.56t/a,
ts, ammonia treatmen waste sides of
Hope NH3-N: packing NH3-N: NH3-N:
liqui nitrogen t gas, 1 the plant None
Liuhe 45mg/l, TN: industry 2.8t/a, 3.96t/a,
d (NH3-N), Wastewa for Wastew
Food Co., 8mg/L, TP: (GB 13457- TN: TN:
poll total ter: waste ater:
Ltd. 8mg/L 1992) , 76t/a 88.83t/a
utan nitrogen (in indirectl water) west
Water
ts N), total y side of
quality
phosphorus discharg the plant
standards
(in P), pH ed
for sewage
value,
discharged
suspended
into urban
matter,
sewers
BOD5,
(GB/T
animal and
31962-
vegetable
2015),/,
oil,
Integrated
coliform
wastewater
groups
discharge
standard
(GB 8978-
1996)
Waste gas: Boiler Air
odor Pollutant
concentrati Emission
on, Standards
Waste
ammonia (DB37/
gas:
(ammonia Waste 2374-2018),
Gas directly
gas), gas: Emission
poll discharg 2 (1
hydrogen north standards
utan ed after for
Yuncheng sulfide, side of COD: for odor COD: COD:
ts, treatmen waste
Liuhe particulate the plant 34.4mg/l, pollutants 6.5t/a, 32.4t/a,
liqui t gas, 1 None
Food Co., matter, foul Wastew NH3-N: (GB 14554- NH3-N: NH3-N:
d Wastewa for
Ltd. smell ater: 1.03mg/l 1993), 0.5t/a 5.4t/a
poll ter: waste
Wastewater west Comprehens
utan indirectl water)
: COD, side of ive
ts y
ammonia the plant Emission
discharg
nitrogen Standards
ed
(NH3-N), for Air
total Pollutants
nitrogen (in (GB 16297-
N), total 1996),
74
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
phosphorus Comprehens
(in P), pH ive
value, Discharge
suspended Standards
matter, for Water
BOD5, Pollutants
animal and Along the
vegetable South-to-
oil, North Water
coliform Diversion
groups Project in
Shandong
Province
(DB37/ 599
－2006),
Modificatio
n List to
Add Total
Nitrogen
Limit in 4
Standards
including
the
Comprehens
ive
Discharge
Standards
for Water
Pollutants
Along the
South-to-
North Water
Diversion
Project in
Shandong
Province
(DB37/599-
2006)
Waste gas: Emission
particulate SS: 300mg/L standard of
matter, Coliform air
sulfur groups: pollutants
Waste
dioxide, 10000/L for boiler
gas: Waste
nitrogen NH3-N: (GB 13271-
Gas directly gas:
oxides, 30mg/L 2014),
poll discharg 2 (1 northwe
exhaustion BOD5: Emission
utan ed after for st side
Anshan blackness, 250mg/L standards COD: COD:
ts, treatmen waste of the
Liuhe mercury pH: 6.0-8.5 for odor 153t/a, 153t/a,
liqui t gas, 1 plant None
Food Co., and its Total pollutants NH3-N: NH3-N:
d Wastewa for Wastew
Ltd. compounds, dissolved (GB 14554- 15.3t/a 15.3t/a
poll ter: waste ater:
hydrogen solids: 1993),
utan indirectl water) east side
sulfide, 2000mg/L Comprehens
ts y of the
odor Animal and ive emission
discharg plant
concentrati vegetable oil: standard of
ed
on, 50mg/L air
ammonia COD: pollutants
Wastewater 450mg/L (GB 16297-
: pH value, 1996),
75
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
COD, total Integrated
dissolved Wastewater
solids, flow Discharge
rate, Standard
ammonia (DB
nitrogen 21/1627-
(NH3-N), 2008),
suspended Discharge
solids, standard of
BOD5, water
animal and pollutants
vegetable for meat
oil, packing
coliform industry
groups (GB 13457-
1992) ,
Water
quality
standards
for sewage
discharged
into urban
sewers
(GB/T
31962-
2015)
Waste gas:
particulate
Emission
matter,
standard of
sulfur
air
dioxide,
pollutants
nitrogen
for boiler
oxides,
(GB 13271-
exhaustion
2014),/
blackness,
SS: 20mg/L Emission
mercury
Coliform standards
and its Waste
Waste groups: for odor
compounds, gas:
Gas gas: 10000/L pollutants
hydrogen directly
poll 2 (1 northwe BOD5: (GB 14554-
sulfide, discharg COD: COD:
utan for st side 10mg/L 1993)
Panjin odor ed after 45t/a, 45t/a,
ts, waste of the NH3-N: Integrated
Liuhe concentrati treatmen NH3-N: NH3-N:
liqui gas, 1 plant 8mg/L Wastewater None
Farming on, t 7.2t/a 7.2t/a
d for Wastew COD: 50mg/L Discharge
Co., Ltd. ammonia Wastewa TN: TN:
poll waste ater: Animal and Standard
Wastewater ter: 13.5t/a 13.5t/a
utan water) northeas vegetable oil: (DB
: pH value, directly
ts t side of 20mg/L 21/1627-
COD, total discharg
the plant pH: 6.0-8.5 2008),
dissolved ed
TN (in N): Discharge
solids, flow
15mg/L standard of
rate,
water
ammonia
pollutants
nitrogen
for meat
(NH3-N),
packing
suspended
industry
solids,
(GB 13457-
BOD5,
1992)
animal and
vegetable
76
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
oil,
coliform
groups
Emission
standards
for odor
pollutants
(GB 14554-
1993),
Notice on
the
Implementat
ion of
Waste gas: Special
particulate Emission
matter, Limits of
sulfur Air
dioxide, Pollutants in
nitrogen Beijing-
oxides, Tianjin-
exhaustion Hebei Air
blackness, Pollution
mercury Transmissio
and its n Channel
compounds, Waste Cities
hydrogen gas: (Ministry of COD:13
Waste
Gas sulfide, directly Environmen .100000
gas:
poll odor discharg 2 (1 tal t/a;
northeas
Dong’e utan concentrati ed after for NH3-N: 4.32 Protection NH3-N:
t side of
Liuhe ts, on, treatmen waste mg/L, Notice No. 1.30000 Not
the plant
Lvjia liqui ammonia t gas, 1 COD cr: 9, 2018) 0t/a; TP: applicab None
Wastew
Food Co., d Wastewater Wastewa for 49mg/L Notice on 0.20000 le
ater:
Ltd. poll : pH value, ter: waste Odor: 724 Approval 0t/a;
northeas
utan COD, total indirectl water) and Release TN:
t side of
ts dissolved y of the 13.5000
the plant
solids, flow discharg Modificatio 00t/a
rate, ed n List to 4
ammonia Standards
nitrogen including
(NH3-N), the
suspended Comprehens
solids, ive
BOD5, Discharge
animal and Standards
vegetable for Water
oil, Pollutants
coliform Along the
groups South-to-
North Water
Diversion
Project in
Shandong
Province
(L.Z.J.B.F.
[2011] No.
35),
Discharge
standard of
77
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
water
pollutants
for meat
packing
industry
(GB 13457-
1992)
Emission
standards
for odor
pollutants
(GB 14554-
1993),
Modificatio
n List No. 2
Waste gas: to Shandong
particulate Regional
matter, Comprehens
sulfur ive Air
dioxide, Pollutant
nitrogen Emission
oxides, Standards
exhaustion (DB/372376
blackness, -2013)
mercury (L.Z.J.B.F.
and its [2016] No.
compounds, Waste 46)
hydrogen gas: Water
Gas sulfide, directly Waste COD cr: Pollutant
Shen
poll odor discharg 4 (3 gas: 50mg/L, Discharge
County
utan concentrati ed after for inside BOD5: Standards
New COD: COD:
ts, on, treatmen waste the plant 10mg/L, for Down
Hope 25.2t/a 25.2t/a
liqui ammonia t gas, 1 Wastew NH3-N: Industry None
Liuhe NH3-N: NH3-N:
d Wastewater Wastewa for ater: 5mg/L, (GB 21901-
Qingsizha 2.52t/a 2.52t/a
poll : pH value, ter: waste north Animal and 2008),
i Food
utan COD, total indirectl water) side of vegetable oil: Notice on
Co., Ltd.
ts dissolved y the plant 3mg/L Approval
solids, flow discharg and Release
rate, ed of the
ammonia Modificatio
nitrogen n List to 4
(NH3-N), Standards
suspended including
solids, the
BOD5, Comprehens
animal and ive
vegetable Discharge
oil, Standards
coliform for Water
groups Pollutants
Along the
South-to-
North Water
Diversion
Project in
Shandong
Province
(L.Z.J.B.F.
78
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
[2011] No.
35),
Discharge
standard of
water
pollutants
for meat
packing
industry
(GB 13457-
1992)
Emission
standards
for odor
pollutants
Waste gas: (GB 14554-
ammonia 1993),
(ammonia Comprehens
gas), ive emission
hydrogen standard of
sulfide, air
odor pollutants
concentrati (GB 16297-
on, 1996),
particulate Notice on
matter, the
nitrogen Implementat
oxide, ion of
sulfur Waste Special
dioxide, gas: Emission
Waste
Gas Ringelman directly Limits of
gas:
poll blackness discharg 3 (2 Air
northeas NH3-N:
Yanggu utan ed after for Pollutants in
t side of 5mg/L. COD: COD:
Liuhe ts, Wastewater treatmen waste Beijing-
the plant COD: 24.6t/a 24.6t/a
Luxin liqui : pH value, t gas, 1 Tianjin- None
Wastew 40mg/L. NH3-N: NH3-N:
Food Co., d COD, Wastewa for Hebei Air
ater: TN: 15mg/L. 1.04t/a 1.04t/a
Ltd. poll BOD5, ter: waste Pollution
northeas TP: 0.5mg/L
utan suspended indirectl water) Transmissio
t side of
ts matter, y n Channel
the plant
ammonia discharg Cities
nitrogen ed (Ministry of
(NH3-N), Environmen
total tal
nitrogen (in Protection
N), total Notice No.
phosphorus 9, 2018)
(in P), Notice on
animal and Approval
vegetable and Release
oil, of the
coliform Modificatio
groups, n List to 4
anionic Standards
surfactant including
the
Comprehens
ive
Discharge
79
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Standards
for Water
Pollutants
Along the
South-to-
North Water
Diversion
Project in
Shandong
Province
(L.Z.J.B.F.
[2011] No.
35),
Comprehens
ive
Discharge
Standards
for Water
Pollutants
Along the
South-to-
North Water
Diversion
Project in
Shandong
Province
(DB37/ 599
－2006),
Discharge
standard of
water
pollutants
for meat
packing
industry
(GB 13457-
1992) ,
Water
Pollutant
Discharge
Standards
for Down
Industry
(GB 21901-
2008)”
Waste gas: Waste Comprehens
particulate gas: ive
Waste
Gas matter, directly Emission
gas:
poll hydrogen discharg 2 (1 Standards of
north COD: COD: COD:
utan sulfide, ed after for Regional
Weifang side in 500mg/L, 225t/a 225t/a
ts, ammonia treatmen waste Air
Tianhui the plant NH3-N: NH3-N: NH3-N:
liqui (ammonia t gas, 1 Pollutants in None
Food Co., Wastew 45mg/L, 20.25t/a 20.25t/a
d gas), odor Wastewa for Shandong
Ltd. ater: TP: 8mg/L, TN: TN:
poll concentrati ter: waste Province
south TN: 8mg/L, 31.5t/a 31.5t/a
utan on, sulfur indirectl water) (DB37/
side in
ts dioxide, y 2376-2013),
the plant
nitrogen discharg Emission
oxides, ed standards
80
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ringelman for odor
blackness pollutants
(GB 14554-
Wastewater 1993),
: COD, Boiler Air
ammonia Pollutant
nitrogen Emission
(NH3-N), Standards
total (DB37/
nitrogen (in 2374-2018)
N), total Discharge
phosphorus standard of
(in P), pH water
value, pollutants
BOD5, for meat
suspended packing
solids, industry
animal and (GB 13457-
vegetable 1992) ,
oil, Water
coliform quality
groups, standards
anionic for sewage
surfactant discharged
into urban
sewers
(GB/T
31962-
2015)
Waste gas: Emission
ammonia standards
(ammonia for odor
gas), pollutants
hydrogen (GB 14554-
sulfide, 1993),
odor Emission
concentrati Standards
Waste
on, fumes, Waste for Cooking
gas:
Ringelman gas: Fume in
northwe
Gas blackness, directly Catering
st side COD: COD:
poll particulate discharg 5 (4 Industry
of the 667.7t/a 667.7t/a
utan matter, ed after for (DB37/597-
Weifang plant, COD: NH3-N: NH3-N:
ts, sulfur treatmen waste 2005),
Heshengy east side 70mg/L, 60.093t/ 60.093t/
liqui dioxide, t gas, 1 Boiler Air None
uan Food in the NH3-N: a a
d nitrogen Wastewa for Pollutant
Co., Ltd. plant 10mg/L, TN: TN:
poll oxides ter: waste Emission
Wastew 93.478t/ 93.478t/
utan Wastewater indirectl water) Standards
ater: a a
ts : COD, y (DB37/
northeas
ammonia discharg 2374-2018)
t side of
nitrogen ed Discharge
the plant
(NH3-N), standard of
total water
nitrogen (in pollutants
N), total for meat
phosphorus packing
(in P), pH industry
value, (GB 13457-
suspended 1992) ,
81
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
solids, Water
BOD5, quality
coliform standards
groups, for sewage
animal and discharged
vegetable into urban
oil sewers
(GB/T
31962-
2015)
Catering
Waste gas:
Industry
ammonia
Fume
(ammonia
Emission
gas), odor
Standards
concentrati
(GB18483-
on,
COD: 70mg/L 2001),
hydrogen
NH3-N: Emission
sulfide, Waste
15mg/L standards
fume gas:
Waste pH: 6-8.5 for odor
Gas directly
gas: east TP: 0.5mg/L pollutants
poll Wastewater discharg 2 (1
side of SS: 60mg/L (GB 14554-
Luoyang utan : COD, ed after for
the plant BOD5: 1993) COD: COD:
Liuhe ts, ammonia treatmen waste
Wastew 25mg/L Discharge 10t/a 10t/a
Huiquan liqui nitrogen t gas, 1 None
ater: Animal and standard of NH3-N: NH3-N:
Food Co., d (NH3-N), Wastewa for
southwe vegetable oil: water 2.43t/a 2.43t/a
Ltd. poll total ter: waste
st side 15mg/L pollutants
utan phosphorus indirectl water)
of the Coliform for meat
ts (in P), pH y
plant groups: 5000 packing
value, discharg
/L industry
BOD5, ed
Fume: (GB 13457-
suspended
2.0mg/Nm 1992) ,
solids,
Integrated
animal and
wastewater
vegetable
discharge
oil,
standard
coliform
(GB 8978-
groups
1996)
Waste gas:
odor
concentrati
on,
ammonia
(ammonia
Gas
gas),
poll
hydrogen COD: COD: COD: COD:
Hebi utan
sulfide Indirectl Northea 45mg/L,NH3- 350mg/L,N 14.6415 64.1232
Liuhe ts,
y st corner N: H3-N: t//a,NH3 t//a,NH3
Zhizhen liqui 1 None
Wastewater discharg of the 0.5mg/L,TP: 35mg/L,TP: -N: -N:
Food Co., d
: COD, ed plant 4mg/L,TN: 4mg/L,TN: 1.3359t/ 10.6872
Ltd. poll
ammonia 35mg/L, 45mg/L, a t/a
utan
nitrogen
ts
(NH3-N),
pH value,
suspended
solids,
BOD5,
animal and
82
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
vegetable
oil,
coliform
groups,
total
nitrogen (in
N), total
phosphorus
(in P)
Waste gas:
sulfur Emission
dioxide, standards
nitrogen for odor
oxides, pollutants
COD:
dust, (GB 14554-
500mg/L
ammonia 1993),
NH3-N: /
(ammonia Ultra-low
mg/L
gas), Emission
TN: /mg/L
hydrogen Waste No. 2
pH: 6.0-8.5
sulfide, gas: Modificatio COD:
Waste TP: /mg/L
Gas odor directly n List to 23.682t/ COD:
gas: SS: 300mg/L
poll concentrati discharg 7 (6 Shandong a 594t/a
Laiwu north BOD5:
utan on ed after for Boiler Air NH3-N: NH3-N:
New side of 250mg/L
ts, treatmen waste Pollutant 60.75t/a 53.46t/a
Hope the plant Animal and
liqui Wastewater t gas, 1 Emission PM: PM: /t/a None
Liuhe Wastew vegetable oil:
d : COD, Wastewa for Standards 0.119t/a SO2:
Food Co., ater: 50mg/L
poll ammonia ter: waste (L.Z.J.B.F. SO2: /t/a
Ltd. north NOx:
utan nitrogen indirectl water) [2016] No. 0.183t/a NOx::
side of 50mg/Nm
ts (NH3-N), y 46), NOx: /t/a
the plant SO2:
pH value, discharg Water 0.625t/a
50mg/Nm
BOD5, total ed quality
Dust:
nitrogen (in standards
10mg/Nm
N), total for sewage
Ringelman
phosphorus discharged
blackness:
(in P), into urban
level 1
animal and sewers
vegetable (GB/T
oil, 31962-
suspended 2015)
solids
Waste gas: COD: Boiler Air
sulfur 500mg/L Pollutant
dioxide, NH3-N: Emission
Waste
nitrogen 45mg/L Standards
gas:
oxides, Waste TN: 70mg/L (DB37/
Gas directly
dust, gas: pH: 6.0-8.5 2374-2018),
poll discharg 3 (2
ammonia north TP: 8mg/L Emission
Dezhou utan ed after for
(ammonia side of SS: 300mg/L standard of
Liuhe ts, treatmen waste
gas), the plant BOD5: air COD: COD:
Zhikang liqui t gas, 1 None
hydrogen Wastew 250mg/L pollutants 23.3t 23.3t
Food Co., d Wastewa for
sulfide, ater: Animal and for boiler
Ltd. poll ter: waste
odor west vegetable oil: (GB 13271-
utan indirectl water)
concentrati side of 50mg/L 2014),
ts y
on the plant Ringelman Emission
discharg
blackness: standards
ed
Wastewater level 1 for odor
: COD, NOx: pollutants
ammonia 150mg/Nm (GB 14554-
83
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
nitrogen SO2: 1993)
(NH3-N), 50mg/Nm Water
pH value, Dust: quality
BOD5, total 10mg/Nm standards
nitrogen (in for sewage
N), total discharged
phosphorus into urban
(in P), sewers
animal and (GB/T
vegetable 31962-
oil, 2015),
suspended Discharge
solids standard of
water
pollutants
for meat
packing
industry
(GB 13457-
1992)
Emission
standards
for odor
pollutants
(GB 14554-
Waste gas:
1993),
odor
Notice on
concentrati
Approval
on,
and Release
ammonia
of the
(ammonia
Modificatio
gas),
n List to 4
hydrogen COD: 50mg/L
Standards
sulfide NH3-N:
including
5mg/L
the
Gas Wastewater TP: 0.3mg/L
Comprehens COD: COD:
poll : COD, pH: 6-8.5
Fei ive 11.6t/a 11.6t/a
utan ammonia SS: 20mg/L
County Indirectl Discharge NH3-N: NH3-N:
ts, nitrogen South TN: 20mg/L
Liuhe y Standards 1.16t/a 1.16t/a
liqui (NH3-N), 1 side of BOD5: None
Huahai discharg for Water TN: TN:
d pH value, the plant 10mg/L
Food Co., ed Pollutants 14t/a 14t/a
poll suspended Animal and
Ltd. Along the TP: TP:
utan solids, vegetable oil:
South-to- 0.63t/a 0.63t/a
ts BOD5, 3mg/L
North Water
animal and Coliform
Diversion
vegetable groups: 10000
Project in
oil, /L
Shandong
coliform
Province
groups,
(L.Z.J.B.F.
total
[2011] No.
nitrogen (in
35),
N), total
Discharge
phosphorus
standard of
(in P)
water
pollutants
for meat
packing
industry
84
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
(GB 13457-
1992) ,
Comprehens
ive
Discharge
Standards
for Water
Pollutants
Along the
South-to-
North Water
Diversion
Project in
Shandong
Province
(DB37/ 599
－2006),
Modificatio
n List to
Add Total
Nitrogen
Limit in 4
Standards
including
the
Comprehens
ive
Discharge
Standards
for Water
Pollutants
Along the
South-to-
North Water
Diversion
Project in
Shandong
Province
(DB37/599-
2006)
Waste gas: Emission
nitrogen standard of
oxides, air
Waste
fume Waste pollutants
gas: COD:
blackness, gas: for boiler
Gas directly 300mg/L
particulate northwe (GB 13271-
poll discharg 3 (2 NH3-N:
Fuxin matter, st and 2014),
utan ed after for 30mg/L
Liuhe sulfur south Emission COD cr: COD cr:
ts, treatmen waste pH: 6-8.5
Farming dioxide, side of standards 78.61t/a 78.61t/a
liqui t gas, 1 SS: 300mg/L None
Co., Ltd. ammonia the plant for odor NH3-N: NH3-N:
d Wastewa for BOD5:
Food (ammonia Wastew pollutants 7.86t/a 7.86t/a
poll ter: waste 250mg/L
Branch gas), ater: (GB 14554-
utan indirectl water) Animal and
hydrogen west 1993)
ts y vegetable oil:
sulfide, side of Discharge
discharg 50mg/L
odor the plant standard of
ed
concentrati water
on pollutants
Wastewater for meat
85
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
: COD, packing
suspended industry
solids, (GB 13457-
ammonia 1992) ,
nitrogen Integrated
(NH3-N), Wastewater
pH value, Discharge
BOD5, Standard
animal and (DB
vegetable 21/1627-
oil, 2008)
coliform
groups
Waste gas:
ammonia
(ammonia
gas),
Emission
hydrogen
standard of
sulfide,
air
odor
pollutants
concentrati
for boiler
on,
Waste (GB 13271-
particulate
gas 2014)
matter,
Waste emissio Henan
nitrogen NH3-N:
gas: n outlet: Comprehens
oxides, 150mg/m
Gas directly at the ive Boiler
sulfur SO2:
Taiqian poll discharg 4 (3 sewage Improveme
dioxide, 50mg/m
New utan ed after for treatmen nt Plan 2019
Ringelman Dust: 20 COD:
Hope ts, treatmen waste t station Emission
blackness mg/m 236t/a;
Liuhe liqui t gas, 1 in the standards None None
Wastewater Benchmark NH3-N:
Luxin d Wastewa for northwe for odor
: COD, oxygen 2.3t/a
Food Co., poll ter: waste st corner pollutants
ammonia content: 3.5%
Ltd. utan indirectl water) of the (GB 14554-
nitrogen Fume
ts y plant. 1993)
(NH3-N), blackness:
discharg Wastew Discharge
total level 1
ed ater standard of
phosphorus
discharg water
(in P), pH
e outlet pollutants
value,
for meat
BOD5,
packing
suspended
industry
solids,
(GB 13457-
animal and
1992)
vegetable
oil,
coliform
groups
Waste gas: Waste Waste COD: Emission
Gas ammonia gas: gas 500mg/L standards
poll (ammonia directly 3 (2 emissio NH3-N: for odor COD: COD:
Laoting utan gas), discharg for n outlet: 45mg/L pollutants 9.31t/a 9.31t/a
Liuhe ts, hydrogen ed after waste sewage TP: 8mg/L (GB 14554- NH3-N: NH3-N:
Xinmeizi liqui sulfide, treatmen gas, 1 treatmen pH: 6-8.5 1993); 5.87t/a 5.87t/a None
Food Co., d odor t for t station SS: 300mg/L Water TN (in TN (in
Ltd. poll concentrati Wastewa waste in the TN: 70mg/L quality N): N):
utan on; ter: water) northwe BOD5: standards 40.5t/a 40.5t/a
ts Wastewater indirectl st corner 250mg/L for sewage
: COD, y of the Animal and discharged
86
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
ammonia discharg plant, vegetable oil: into urban
nitrogen, ed and 50mg/L sewers
total worksho (GB/T
nitrogen, ps. 31962-
animal and Wastew 2015),
vegetable ater Discharge
oil, discharg standard of
suspended e outlet: water
solids, fecal sewage pollutants
coliform, treatmen for meat
BOD5 t station packing
industry
(GB 13457-
1992) ,
Emission
standards
for odor
pollutants
(GB 14554-
Waste gas: 1993);
Waste
ammonia Boiler Air
gas
(ammonia Pollutant
discharg
gas), Emission
e outlet:
hydrogen Standards
Waste sewage
sulfide, (DB37/
Qixia gas: treatmen
odor 2374-2018)
Refrigerat Gas directly t station
concentrati Comprehens
ion poll discharg 4 (3 in the
on; ive
Factory utan ed after for northeas
Wastewater COD: 50mg/L Discharge COD: COD:
of ts, treatmen waste t corner
: COD, NH3-N: Standard of 14.4t/a 14.4t/a
Shandong liqui t gas, 1 of the None
ammonia 5mg/L Water NH3-N: NH3-N:
New d Wastewa for plant,
nitrogen, pH: 6-9 Pollutants in 1.5t/a 1.5t/a
Hope poll ter: waste worksho
total Shandong
Liuhe utan indirectl water) ps.
nitrogen, Peninsula
Group ts y Wastew
animal and Basin
Co., Ltd. discharg ater
vegetable (DB37/676-
ed discharg
oil, 2007),
e outlet:
suspended Discharge
sewage
solids, fecal standard of
treatmen
coliform, water
t station
BOD5 pollutants
for meat
packing
industry
(GB 13457-
1992)
Waste gas: Waste Waste Ultra-low
COD cr:
odor gas: gas: Emission
Gas 3.03t/a
concentrati directly north No. 2
poll 2 (1 NH3-N:
on, discharg side of COD: 30mg/l, Modificatio
utan for 3.02t/a
Laiyang ammonia ed after the NH3-N: n List to
ts, waste Total
Tianye (ammonia treatmen plant, 1.5mg/l, TP: Shandong
liqui gas, 1 nitrogen None None
Food Co., gas), t within 0.5mg/l, TN: Boiler Air
d for 3.32t/a
Ltd. hydrogen Wastewa the plant 15mg/l, pH6- Pollutant
poll waste Total
sulfide, ter: 9 Emission
utan water) phospho
sulfur indirectl Wastew Standards
ts rus
dioxide, y ater: (L.Z.J.B.F.
0.016t/a
nitrogen discharg west [2016] No.
87
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
oxides, ed side of 46),
particulate the Emission
matter, compan standards
fume y for odor
blackness pollutants
(Ringelman (GB 14554-
blackness, 1993)
level) Comprehens
Wastewater ive
: COD, Discharge
ammonia Standard of
nitrogen Water
(NH3-N), Pollutants in
pH value, Shandong
suspended Peninsula
solids, Basin
BOD5, (DB37/676-
animal and 2007),
vegetable Discharge
oil, standard of
coliform water
groups, pollutants
total for meat
nitrogen (in packing
N) industry
(GB 13457-
1992)
Waste gas: Water
nitrogen quality
oxides, standards
particulate for sewage
COD:
matter, discharged
Waste 350mg/L
sulfur into urban
gas: TN: 70mg/L
dioxide, sewers
west NH3-N:
hydrogen (GB/T3196
side of 45mg/L
sulfide, 2-2015),
the plant TP: 8mg/L
odor Waste Discharge
of the pH: 6-8.5
concentrati gas: standard of
compan SS: 256mg/L
Gas on, directly water
y and BOD5:
poll Ringelman discharg 6 (5 pollutants
inside 150mg/L
Tai'an utan blackness ed after for for meat COD: COD:
the Animal and
Taishan ts, treatmen waste packing 533.05t/ 533.05t/
compan vegetable oil:
Liuhe liqui Wastewater t gas, 1 industry a; a; None
y 50mg/L
Food Co., d : COD, Wastewa for (GB 13457- NH3-N: NH3-N:
Sulfur
Ltd. poll ammonia ter: waste 1992) , 45.69t/a 45.69t/a
Wastew hydrogen:
utan nitrogen indirectl water) Emission
ater: 0.1mg/nm
ts (NH3-N), y standards
west Ammonia:
total discharg for odor
side of 2mg/nm
nitrogen, ed pollutants
the west PM:
total (GB 14554-
gate to 10mg/nm
phosphorus, 1993),
the SO2:
pH value, Modificatio
compan 50mg/nm
BOD5, n List No. 2
y NOx:
suspended to Shandong
100mg/nm
solids, Regional
animal and Comprehens
vegetable ive Air
oil, Pollutant
88
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
coliform Emission
groups, Standards
anionic (DB/372376
surfactant -2013)
(L.Z.J.B.F.
[2016] No.
46), Boiler
Air
Pollutant
Emission
Standards
(DB37/2374
-2018)
Waste gas:
ammonia
(ammonia
gas),
Boiler Air
hydrogen
Pollutant
sulfide,
Emission
odor
Standards
concentrati
(DB37/
on, sulfur
2374-2018),
dioxide,
Emission
nitrogen
standards
oxides,
for odor
particulate Waste
Waste pollutants
matter, gas: east
gas: (GB 14554- COD cr: COD cr:
Ringelman side of
Gas directly Ammonia 1993) 8.68t/a 8.68t/a
Shandong blackness the
poll discharg 3 (2 nitrogen Water NH3-N: NH3-N:
New Wastewater compan
utan ed after for 45mg/l quality 0.68t/a 0.68t/a
Hope : COD, pH y’s plant
ts, treatmen waste COD 500mg/l standards Total Total
Liuhe value,
liqui t gas, 1 Total for sewage phospho phospho None
Group dissolved Wastew
d Wastewa for phosphorus discharged rus rus
Co., Ltd. total solids, ater:
poll ter: waste 8mg/l into urban 0.88t/a 0.88t/a
Linyi ammonia southeas
utan indirectl water) Total nitrogen sewers Total Total
Branch nitrogen t side of
ts y 70mg/l (GB/T nitrogen nitrogen
(NH3-N), the
discharg 31962- 4.1t/a 4.1t/a
total compan
ed 2015),
nitrogen (in y
Discharge
N), total
standard of
phosphorus
water
(in P),
pollutants
suspended
for meat
solids,
packing
BOD5,
industry
flow rate,
(GB 13457-
animal and
1992)
vegetable
oil, total
coliform
groups.
Gas Waste gas: Waste 7 (6 Waste Fume: Boiler Air COD: COD:
Qingdao poll nitrogen gas: for gas: 1.5mg/Nm Pollutant 18.45t/a 18.45t/a
Liuhe utan oxides, directly waste west COD: Emission NH3-N: NH3-N:
Wanfu ts, sulfur discharg gas, 1 side of 500mg/L Standards 1.75t/a 1.75t/a None
Food Co., liqui dioxide, ed after for the plant NH3-N: (DB37/2374 PM: PM:
Ltd. d fume, treatmen waste Wastew 45mg/L -2018) 10.5t/a 10.5t/a
poll Ringelman t water) ater: TN: 70mg/L Shandong SO2: SO2:
89
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
utan blackness, Wastewa southwe pH: 6.5-9.5 Emission 1.8t/a 1.8t/a
ts ammonia ter: st side TP: 8mg/L Standards NOx: NOx:
(ammonia discharg of the SS: 400mg/L for Cooking 8.55t/a 8.55t/a
gas), odor ed into plant BOD5: Fume in
concentrati sewerag 350mg/L Catering
on, sulfur e Animal and Industry
hydrogen treatmen vegetable oil: (DB37/ 597-
t plant 100mg/L 2006)
Wastewater after NOx: Emission
: COD, treatmen 200mg/Nm standards
ammonia t SO2: for odor
nitrogen 50mg/Nm pollutants
(NH3-N), Dust: (GB 14554-
pH value, 10mg/Nm 1993),
BOD5, total Comprehens
nitrogen (in ive
N), total Emission
phosphorus Standards
(in P), for Regional
suspended Air
solids, Pollutants
animal and (DB37/
vegetable 2376-2019),
oil, Comprehens
coliform ive Air
groups Pollutant
Emission
Standards
(GB16279-
1996)
Water
quality
standards
for sewage
discharged
into urban
sewers
(GB/T
31962-
2015)
Waste gas: COD: 40mg/L Environmen
nitrogen TN: 2mg/L tal quality
oxides, NH3-N: standards
Waste Waste
particulate 2mg/L for surface
gas: gas: 9 at
matter, TP: 0.4mg/L water (GB
Gas directly feed
sulfur pH: 6-9 3838-2002),
poll discharg 4 (3 plant, 1
Fenxi dioxide, SS: 100mg/L Discharge
utan ed after for at
New hydrogen BOD5: standard of COD: COD:
ts, treatmen waste southwe
Hope sulfide, 10mg/L water 2.90t/a 2.90t/a
liqui t gas, 1 st of the None
Liuhe odor Animal and pollutants NH3-N: NH3-N:
d Wastewa for factory
Food Co., concentrati vegetable oil: for meat 0.70t/a 0.70t/a
poll ter: waste Wastew
Ltd. on, 20mg/L packing
utan indirectl water) ater:
Ringelman Phosphates: industry
ts y sewage
blackness 1mg/L (GB 13457-
discharg treatmen
Sulfur 1992)
ed t station
Wastewater hydrogen: Integrated
: COD, 0.06mg/nm wastewater
ammonia Ammonia: discharge
90
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
nitrogen, 1.5mg/nm standard
total PM: 1mg/nm (GB 8978-
nitrogen, Odor cr: 20 1996)
total (dimensionles Table 3 Gas
phosphorus, s) Boiler
pH value, SO2: Standard of
BOD5, 35mg/nm Boiler Air
suspended NOx: Pollutant
solids, 50mg/nm Emission
animal and PM: 5mg/nm Standards
vegetable Ringelman (DB
oil, blackness ≤1 14/1929-
coliform PM: 2019)
groups, 120mg/nm Table 1
flow rate, 3.5kg/h Level-2
temperature Leq: daytime Standard of
, 60dB(A) Emission
phosphates Nighttime standards
50dB(A) for odor
Noise: Leq pollutants
(GB 14554-
1993)
(GB14554-
93)
Comprehens
ive emission
standard of
air
pollutants
(GB 16297-
1996),
Emission
standard for
industrial
enterprises
noise at
boundary
(GB 12348-
2008)
Waste gas: Boiler Air
ammonia Pollutant
(ammonia Emission
gas), Waste COD: Standards
particulate gas: 500mg/L (DB37/
Waste
Gas matter, directly TN: 70mg/L 2374-2018)
gas: east
poll fume discharg 2 (1 NH3-N: Emission
side of
Linyi utan blackness ed after for 45mg/L standards
the plant COD:
Liuhe ts, (Ringelman treatmen waste TP: 8mg/L for odor Not
1.7t/a;
Hongchen liqui blackness, t gas, 1 pH: 6-8.5 pollutants applicab None
Wastew NH3-N:
Farming d level), Wastewa for SS: 300mg/L (GB 14554- le
ater: 0.3t/a
Co., Ltd. poll sulfur ter: waste BOD5: 1993)
west
utan dioxide, indirectl water) 250mg/L Water
side of
ts nitrogen y Animal and quality
the plant
oxides, discharg vegetable oil: standards
odor ed 50mg/L for sewage
concentrati discharged
on, sulfur into urban
hydrogen, sewers
91
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ringelman (GB/T
blackness 31962-
COD, 2015),
ammonia Discharge
nitrogen standard of
(NH3-N), water
total pollutants
nitrogen (in for meat
N), total packing
phosphorus industry
(in P), pH (GB 13457-
value, pH 1992)
value,
suspended
solids,
animal and
vegetable
oil, BOD5,
fecal
coliforms
Waste gas:
nitrogen
oxides,
particulate
matter,
sulfur
Waste
dioxide, COD: 30mg/L
gas: Emission
hydrogen TN: 15mg/L
west standards
sulfide, NH3-N:
side of for odor
odor 1.5mg/L
the plant pollutants
concentrati TP: 0.3mg/L
Waste of the (GB 14554-
on, pH: 6-9
gas: compan 1993);
Ringelman SS: 20mg/L
directly y and Boiler Air
Gas blackness BOD5: COD:
discharg inside Pollutant COD:
poll 10mg/L 11.49t/a
ed after 3 for the Emission 11.49t/a;
Pingyi utan Wastewater Animal and ;
treatmen waste compan Standards NH3-N:
Liuhe ts, : COD, vegetable oil: NH3-N:
t gas, 1 y (DB37/ 0.57t/a
Fada liqui ammonia 20mg/L 0.57t/a None
Wastewa for 2374-2018) TN:
Food Co., d nitrogen Sulfur TN:
ter: waste Wastew Comprehens 10.13t/a
Ltd. poll (NH3-N), hydrogen: 10.13t/a
directly water ater: ive TP:
utan total 0.1mg/nm TP:
discharg southwe Discharge 0.2t/a
ts nitrogen, Ammonia: 0.2t/a
ed after st Standards
total 2mg/nm
treatmen sewage for Water
phosphorus, PM:
t treatmen Pollutants in
pH value, 10mg/nm
t station Shu River
BOD5, SO2:
outside Watershed
suspended 50mg/nm
the (DB37/3416
solids, NOx:
compan .2-2018)
animal and 100mg/nm
y
vegetable
oil,
coliform
groups,
anionic
surfactant
Beijing Gas Waste gas: Waste 4 (3 Waste Non-methane Comprehens COD: COD:
Kinghey poll hydrogen gas: for gas hydrocarbon ive 0.48375 0.48375 None
Food Co., utan sulfide, directly waste emissio (chemical Discharge 3t/a; 3t/a;
92
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ltd. ts, odor discharg gas, 1 n outlet: production Standard of NH3-N: NH3-N:
liqui concentrati ed after for canteen, workshop): Water 0.01754 0.01754
d on, treatmen waste chemica 50mg/m Pollutants 8t/a 8t/a
poll ammonia t water) l Non-methane (DB11/ 307-
utan (ammonia Wastewa producti hydrocarbon: 2013)
ts gas), ter: on 10mg/m;
particulate indirectl worksho Fume: Comprehens
matter, non- y p 1mg/Nm; ive
methane discharg PM10: Emission
total ed Wastew 5mg/Nm Standards of
hydrocarbo ater Air
ns, fume, discharg COD: 50 ㎎ Pollutants
sulfur e outlet: /L, NH3-N: (DB11/ 501-
dioxide, south 15 ㎎/L, TP: 5 2017)
nitrogen side of ㎎ /L, TN: 13
oxides, the ㎎/L Catering
Ringelman sewage Industry
blackness treatmen Fume
Wastewater t station Emission
: pH value, Standards
COD, (Tentative)
BOD5, (GB18483-
suspended 2001)
solids,
ammonia
nitrogen
(NH3-N),
animal and
vegetable
oil, total
phosphorus
(in P), total
nitrogen (in
N),
coliform
groups
Waste gas: Waste Comprehens
hydrogen gas ive
sulfide, emissio Discharge
ammonia n outlet: Odor: 2000 Standard of
(ammonia canteen, Non-methane Water
gas), odor chemica hydrocarbon Pollutants
concentrati l (chemical (DB11/ 307-
Gas
on, non- producti production 2013)
poll 6 (5
methane on workshop):
Hebei utan for COD:
total Indirectl worksho 80mg/Nm Volatile COD:
Kinghey ts, waste 23.63t/a
hydrocarbo y p, Organic 23.63t/a;
Meat liqui gas, 1 ; None
ns, discharg waiting Compounds NH3-N:
Industry d for NH3-N:
particulate ed pens, COD: 120 ㎎ Emission 2.29t/a
Co., Ltd. poll waste 2.29t/a
matter, deslimin /L, NH3-N: Standards
utan water)
nitrogen g room, 25 ㎎/L, TP: 8 for
ts
oxides, flotation ㎎ /L, TN: 55 Industrial
sulfur tank ㎎ /L, BOD: Enterprises
dioxide 60mg/L, SS: (DB13/2322
Wastewater North 120mg/L -2016)
: COD, side of
ammonia the Emission
nitrogen, sewage standards
93
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
total treatmen for odor
nitrogen, t station pollutants
total (GB 14554-
phosphorus, 1993)
pH value,
BOD5,
suspended
solids,
animal and
vegetable
oil,
coliform
groups,
phosphate
Waste gas:
ammonia
(ammonia Integrated
gas), odor Wastewater
concentrati Discharge
on, sulfur Standard
dioxide, (DB
hydrogen 21/1627-
sulfide, 2008)
nitrogen Discharge
oxides, Waste standard of
particulate gas: water
Gas matter directly Outlet pollutants
poll Wastewater discharg of the COD: 300 ㎎ for meat
utan : COD, ed after sewage /L, NH3-N: packing
Liaoning COD: COD:
ts, ammonia treatmen treatmen 30 ㎎/L, TP: 5 industry
Kinghey 462t/a; 462t/a;
liqui nitrogen t 1 t station ㎎ /L, TN: 50 (GB 13457- None
Food Co., NH3-N: NH3-N:
d (NH3-N), Wastewa (northea ㎎ /L, BOD: 1992)
Ltd. 46.2t/a 46.2t/a
poll total ter: st corner 250mg/L, SS: Emission
utan nitrogen (in indirectl of the 300mg/L standards
ts N), total y plant) for odor
phosphorus discharg pollutants
(in P), pH ed (GB 14554-
value, 1993),
BOD5, Comprehens
suspended ive emission
solids, standard of
animal and air
vegetable pollutants
oil, (GB 16297-
coliform 1996),
groups,
flow rate
Waste Wastewa Waste COD: Emission COD:
Gas water: ter: gas 500mg/L standard of 11.9t/a
poll COD, discharg emissio NH3-N: air TN:
utan BOD5, ed into n outlet: 45mg/L pollutants 6.3t/a
Chengdu
ts, ammonia urban east side TN: 70mg/L for boiler NH3-N:
Hope
liqui nitrogen, sewage 4 of the pH: 6.0-8.5 (GB 13271- 3.7t/a None None
Food Co.,
d total treatmen low- TP: 8mg/L 2014) TP:
Ltd.
poll phosphorus, t plant temperat SS: 400mg/L Water 0.3t/a
utan total after ure BOD5: quality
ts nitrogen, treatmen plant, 300mg/L standards NOx:
suspended t southwe Animal and for sewage 0.7t/a
94
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
solids, pH, Waste st side vegetable oil: discharged
animal and gas: of the 60mg/L into urban SO2:
vegetable directly high- Ringelman sewers 0.2t/a
oil, discharg temperat blackness: (GB/T
coliform ed ure plant level 1 31962-2)
groups Wastew NOx: Discharge
Waste gas: ater 150mg/Nm standard of
nitrogen discharg SO2: water
oxides, e outlet: 50mg/Nm pollutants
sulfur southwe PM: for meat
dioxide, st side 20mg/Nm packing
particulate of the industry
matter, low- (GB 13457-
Ringelman temperat 1992)
blackness, ure
hydrogen plant,
sulfide, south
ammonia, side of
odor the
high-
temperat
ure plant
Waste gas:
Water
hydrogen Waste
quality
sulfide, gas
standards
ammonia emissio
COD: for sewage
(ammonia n outlet:
500mg/L discharged
gas), odor chemica
NH3-N: into urban
concentrati l
45mg/L sewers
on producti
TN: 70mg/L (GB/T
Wastewater on
Gas pH: 6.0-8.5 31962-
: COD, worksho
poll 5 (4 TP: 8mg/L 2015),
ammonia p,
utan for SS: 400mg/L Discharge COD:
Shandong nitrogen, Indirectl waiting COD:
ts, waste BOD5: standard of 581.3t/a
Kinghey total y pens, 581.3t/a;
liqui gas, 1 300mg/L water ; None
Food Co., nitrogen, discharg deslimin NH3-N:
d for Animal and pollutants NH3-N:
Ltd. total ed g room, 46.5t/a
poll waste vegetable oil: for meat 46.5t/a
phosphorus, singeing
utan water) 60mg/L packing
pH value, oven,
ts Odor cr: 2000 industry
BOD5, flotation
Ammonia: 4.9 (GB 13457-
suspended tank
mg/Nm 1992) ,
solids, Northwe
Sulfur Emission
animal and st side
hydrogen: standards
vegetable of the
0.33mg/Nm for odor
oil, sewage
pollutants
coliform treatmen
(GB 14554-
groups, t station
1993)
phosphate
Treatment of pollutants
Pollutant treatment
Wastewater Discharged after treatment in sewage treatment system
Waste gas Spray and biological deodorization
Contingency Plan for Environmental Emergencies
95
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Company name Filed or not Filing authorities Filing number Time
Linyi County
Linyi Liuhe Food Co., Ltd. Filed Environmental 3711424-2019-037-L Nov. 12, 2019
Protection Bureau
Lanling County
Lanling New Hope Liuhe
Filed Environmental 371327-2019-03-L Mar. 4, 2019
Hongjun Food Co., Ltd.
Protection Bureau
Pingyi Refrigeration Factory of Pingyi County
Shandong New Hope Liuhe Filed Environmental 371326-2022-21-L Jun. 27, 2022
Group Co., Ltd. Protection Bureau
Pingdu
Qingdao Tianrun Food Co., Ltd. Filed Environmental 370283-20201026-401-M Oct. 26, 2020
Protection Bureau
Yishui
Yishui New Hope Liuhe Food
Filed Environmental 371323-2022-113-M Nov. 10, 2022
Co., Ltd.
Protection Bureau
Hadan Ecology and
Environment
Guantao Liuhe Food Co., Ltd. Filed 130433-2023-003-L Jan. 4, 2023
Bureau Guantao
Branch
Binzhou
Binzhou Liuhe Longda Farming
Filed Environmental 371602-2019-0001-L Jan. 4, 2019
Co., Ltd.
Protection Bureau
Binzhou Ecology
Wudi Liuhe Xinyang Food Co., and Environment Oct. 9, 2019 (expired and
In progress 371623-2019-030-L
Ltd. Bureau Wudi refiled)
Branch
Zouping County
Zouping Liuhe Livestock Co.,
Filed Environmental 371626-2016-084-L Dec. 5, 2019
Ltd.
Protection Bureau
Heze Ecology and
Shan County Liuhe Feed Co., Environment
Filed 371722-2020-017-M Jul. 22, 2020
Ltd. Food Branch Bureau Shan
County Branch
Cao County No filing, not required by
Cao County Liuhe Food Co.,
In progress Environmental / local environmental
Ltd.
Protection Bureau protection bureau
Jiaxiang County
Jiaxiang New Hope Liuhe Food
Filed Environmental 370829-2021-106-M Dec. 20, 2021
Co., Ltd.
Protection Bureau
Yuncheng County
Yuncheng Liuhe Food Co., Ltd. Filed Environmental 371725-2019-022-L Dec. 25, 2019
Protection Bureau
Anshan Ecology
and Environment
Anshan Liuhe Food Co., Ltd. Filed 210321-2020-036-L Sept. 29, 2020
Bureau Tai'an
Branch
Panjin Dawa
District
Panjin Liuhe Farming Co., Ltd. Filed 211121-2020-6-L Apr. 20, 2020
Environmental
Protection Bureau
Dong’e County
Dong’e Liuhe Lvjia Food Co.,
Filed Environmental 371524-2021-067-M Dec. 28, 2021
Ltd.
Protection Bureau
Shen County
Shen County New Hope Liuhe
Filed Environmental 3715222-2022-049-L May 20, 2022
Qingsizhai Food Co., Ltd.
Protection Bureau
Yanggu County
Yanggu Liuhe Luxin Food Co.,
Filed Environmental 371521-2023-009-L Mar. 1, 2023
Ltd.
Protection Bureau
Shouguang
Weifang Tianhui Food Co., Ltd. Filed Environmental 370783-2021-078-L Feb. 4, 2021
Protection Bureau
Anqiu
Weifang Heshengyuan Food
Filed Environmental 370784-2018-045-L Oct. 24, 2018
Co., Ltd.
Protection Bureau
96
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Luoyang
Luoyang Liuhe Huiquan Food
Filed Environmental 410381-2020-11-L May 28, 2020
Co., Ltd.
Protection Bureau
Environmental
Emergency
Hebi Liuhe Zhizhen Food Co., Response
Filed 4106212021029L Aug. 10, 2021
Ltd. Headquarters of
Hebi Environmental
Protection Bureau
Laiwu Bureau for
Construction and
Laiwu New Hope Liuhe Food Development of
Filed 371202=2022-051-M Apr. 7, 2022
Co., Ltd. Agricultural High-
tech Industry
Demonstration Zone
Dezhou Ecology
Dezhou Liuhe Zhikang Food and Environment
Filed 3714212019023L Nov. 20, 2019
Co., Ltd. Bureau Lingcheng
Branch
Fei County
Fei County Liuhe Huahai Food
Filed Environmental 371325-2021-12-H Apr. 13, 2021
Co., Ltd.
Protection Bureau
Fuxin
Fuxin Liuhe Farming Co., Ltd.
Filed Environmental 210904-2022-02-L Jan. 24, 2022
Food Branch
Protection Bureau
Taiqian County
Taiqian New Hope Liuhe Luxin
Filed Environmental 4109272020048L Dec. 23, 2020
Food Co., Ltd.
Protection Bureau
Tangshan
Environmental
Laoting Liuhe Xinmeizi Food
Filed Protection Bureau 130225-2021-025-L Apr. 20, 2021
Co., Ltd.
Laoting County
Branch
Qixia Refrigeration Factory of Qixia
Shandong New Hope Liuhe Filed Environmental 370686-2018-067-M Aug. 1, 2018
Group Co., Ltd. Protection Bureau
Laiyang
Laiyang Tianye Food Co., Ltd. Filed Environmental 370682-2021-23-L Mar. 16, 2021
Protection Bureau
Tai'an Taishan Liuhe Food Co.,
In progress / / Prepared, filing in progress
Ltd.
Hedong District
Shandong New Hope Liuhe
Filed Environmental 4109272020048L Dec. 23, 2020
Group Co., Ltd. Linyi Branch
Protection Bureau
Qingdao Ecology
Qingdao Liuhe Wanfu Food Co., and Environment
Filed 3702852031124L May 12, 2021
Ltd. Bureau Laixi
Branch
Linfen Ecology and
Fenxi New Hope Liuhe Food Environment
Filed 4109272020048L Dec. 23, 2020
Co., Ltd. Bureau Fensi
Branch
Linyi
Pingyi Liuhe Fada Food Co.,
Filed Environmental 371326-2022-027-L Jul. 15, 2022
Ltd.
Protection Bureau
Lanshan District
Linyi Liuhe Hongchen Farming
Filed Environmental 1302-2019-078-L Dec. 10, 2019
Co., Ltd.
Protection Bureau
Pinggu District
Ecology and
Beijing Kinghey Food Co., Ltd. Filed 110117-2021-025L Dec. 15, 2021
Environment
Bureau
Nangong
Hebei Kinghey Meat Industry
Filed Environmental 130581-2022-5006-L Jul. 25, 2022
Co., Ltd.
Protection Bureau
Liaoning Kinghey Food Co., Filed Shenyang 210113-2020-196-M Sept. 15, 2020
97
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ltd. Environmental
Protection Bureau
Puhe New Town
Branch
Chengdu Xinjin
District Ecology
Chengdu Hope Food Co., Ltd. Filed 5101322020047L Jun. 3, 2020
and Environment
Bureau
Xiajin County
Shandong Kinghey Food Co.,
Filed Environmental 371427-2022-040-L Feb. 25, 2023
Ltd.
Protection Bureau
Nangong
Hebei Kinghey Meat Industry
Filed Environmental 130581-2022-5006-L Jul. 25, 2022
Co., Ltd.
Protection Bureau
Input in environmental governance and protection and payment of environmental protection taxes
The company has played an important role in preventing and controlling pollution and protecting the environment by
strengthening environmental governance and reducing pollutant emissions. In the first half of 2023, the company invested a total
of 10.78 million yuan in environmental governance and protection and paid 830,000 yuan of environmental protection tax for pig
business, 190,000 yuan for poultry business, 110,000 yuan for food business, and 680,000 yuan for feed business.
Environmental self-monitoring programme
Mo
Monitor
Com Moni Moni nito
ing Emission Source of
pany torin tored ring Standards adopted Analytic methods
frequenc limit method
name g site item met
y
hod
COD 450mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 50mg/L ethylenediamine HJ 668-2013
en hydrochloride
Onli spectrophotometry
Amm ne
Once per
onia mon Nessler’s reagent
6 hours 35mg/L HJ535-2009
nitrog itori spectrophotometry
en ng
Sewa Total Ammonium
Discharge standard
ge phosp 6mg/L molybdate HJ 671-2013
of water pollutants
treat horus spectrophotometry
for meat packing
ment Glass electrode
pH industry (GB 6-8.5 GB 6920-1986
statio method
13457-1992)
Linyi n Suspe
Agreements with
Liuhe disch nded 200mg/L Gravimetric method GB11901-89
sewage treatment
Food arge solids
plants
Co., outlet BOD Dilution and
120mg/L HJ505-2009
Ltd. 5 inoculation method
Man
Anim
ual
al and Once per
mon Infrared
veget quarter 50mg/L HJ 637-2012
itori spectrophotometry
able
ng
oil
Colif
Multi-tube
orm
10000 fermentation and HJ637-2012
group
filtration membrane
s
Nitro Emission standard
Boile Man Non-dispersive
gen Once per of air pollutants for
r ual 150mg/Nm infrared absorption HJ 692-2014
oxide month boiler (GB 13271-
disch mon method
s 2014), Boiler Air
arge itori
Sulfi Once per Pollutant Emission Non-dispersive
outlet ng 50mg/Nm HJ 629-2011
de year Standards infrared absorption
98
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
dioxi (DB37/2374- 2018) method
de
Dust 10mg/Nm Gravimetric method HJ/T 398-2007
Ringe
lman Ringelman
1 HJ/T 398-2007
black blackness chart
ness
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm Man
Boun onia ual Once per Emission standards
Ion selective GB/T 14669-
dary (amm mon half a for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia itori year (GB 14554-1993),
gas) ng
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 50mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 20mg/L ethylenediamine HJ 668-2013
en hydrochloride
Onli Notice on Approval spectrophotometry
Amm ne and Release of the
Once per Modification List to
onia mon Nessler’s reagent
6 hours 4 Standards 5mg/L HJ535-2009
nitrog itori spectrophotometry
en ng including the
Comprehensive
Sewa Total Ammonium
Discharge
ge phosp 0.3mg/L molybdate HJ 671-2013
Standards for
treat horus spectrophotometry
Water Pollutants
ment Glass electrode
pH Along the South-to- 6-8.5 GB 6920-1986
statio method
North Water
n Suspe
Diversion Project
disch nded 20mg/L Gravimetric method GB11901-89
in Shandong
arge solids
Province
Lanli outlet BOD Dilution and
(L.Z.J.B.F. [2011] 10mg/L HJ505-2009
ng 5 No. 35), Discharge inoculation method
Man
New Anim standard of water
ual
Hope al and Once per pollutants for meat
mon Infrared
Liuhe veget month packing industry 3mg/L HJ 637-2012
itori spectrophotometry
Hong able (GB 13457-1992)
ng
jun oil
Food Colif
Co., Multi-tube
orm
Ltd. 10000 fermentation and HJ637-2012
group
filtration membrane
s
Nitro
Non-dispersive
gen Once per
200mg/Nm infrared absorption HJ 692-2014
oxide month
method
s
Boile Sulfi Man
Non-dispersive
r de ual Boiler Air Pollutant
50mg/Nm infrared absorption HJ 629-2011
disch dioxi mon Emission Standards
method
arge de itori (DB37/ 2374-2018)
Once per
outlet Dust ng 10mg/Nm Gravimetric method HJ/T 398-2007
year
Ringe
lman Ringelman
1 HJ/T 398-2007
black blackness chart
ness
Odor Man
Boun Once per Emission standards
conce ual Triangle odor bag GB/T14675-
dary half a for odor pollutants 20
ntrati mon method 1993
odor year (GB 14554-1993)
on itori
99
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Amm ng
onia
Ion selective GB/T 14669-
(amm 1.5mg/Nm
electrode method 1993
onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 70mg/L ethylenediamine HJ 668-2013
en hydrochloride
Onli spectrophotometry
Amm ne
Once per
onia mon Nessler’s reagent
6 hours 45mg/L HJ535-2009
nitrog itori spectrophotometry
en ng
Water quality
Sewa Total Ammonium
standards for
ge phosp 8mg/L molybdate HJ 671-2013
sewage discharged
treat horus spectrophotometry
into urban sewers
ment Glass electrode
pH (GB/T 31962- 6-8.5 GB 6920-1986
statio method
2015), Discharge
n Suspe
standard of water
disch nded 200mg/L Gravimetric method GB11901-89
pollutants for meat
arge solids
packing industry
outlet BOD Dilution and
(GB 13457-1992) 250mg/L HJ505-2009
5 inoculation method
Man
Pingy Anim
ual
i al and Once per
mon Infrared
Refri veget quarter 50mg/L HJ 637-2012
itori spectrophotometry
gerati able
ng
on oil
Facto Colif
Multi-tube
ry of orm
10000 fermentation and HJ637-2012
Shan group
filtration membrane
dong s
New Nitro
Hope Non-dispersive
gen Once per
Liuhe 200mg/Nm infrared absorption HJ 692-2014
oxide month
Grou method
s
p Co., Boile Sulfi Man
Ltd. Non-dispersive
r de ual Boiler Air Pollutant
50mg/Nm infrared absorption HJ 629-2011
disch dioxi mon Emission Standards
method
arge de itori (DB37/ 2374-2018)
Once per
outlet Dust ng 10mg/Nm Gravimetric method HJ/T 398-2007
year
Ringe
lman Ringelman
1 HJ/T 398-2007
black blackness chart
ness
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm Man
Boun onia ual Once per Emission standards
Ion selective GB/T 14669-
dary (amm mon half a for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia itori year (GB 14554-1993),
gas) ng
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
Qing Sewa COD Onli Once per Peninsula Basin 40mg/L Dichromate process HJ 828-2017
dao ge Total ne 2 hours (DB37/3416.5- 20mg/L Flow injection- HJ 668-2013
100
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Tianr treat nitrog mon 2018), Discharge naphthalene
un ment en itori standard of water ethylenediamine
Food statio ng pollutants for meat hydrochloride
Co., n packing industry spectrophotometry
Ltd. disch Amm (GB 13457-1992)
arge onia Nessler’s reagent
2mg/L HJ535-2009
outlet nitrog spectrophotometry
en
Ammonium
Phos
1000mg/L molybdate HJ 671-2013
phate
spectrophotometry
Glass electrode
pH 6-8.5 GB 6920-1986
method
Suspe
nded 30mg/L Gravimetric method GB11901-89
solids
BOD Dilution and
10mg/L HJ505-2009
5 inoculation method
Man
Anim
ual
al and Once per
mon Infrared
veget month 5mg/L HJ 637-2012
itori spectrophotometry
able
ng
oil
Colif
Multi-tube
orm
10000 fermentation and HJ637-2012
group
filtration membrane
s
Nitro
Non-dispersive
gen
100mg/Nm infrared absorption HJ 692-2014
Boile oxide Man
method
r s ual Once per Boiler Air Pollutant
disch Sulfi mon half a Emission Standards
Non-dispersive
arge de itori year (DB37/2374-2018),
50mg/Nm infrared absorption HJ 629-2011
outlet dioxi ng
method
de
Dust 10mg/Nm Gravimetric method HJ/T 398-2007
Prepa
Dyei
red Man
ng Catering Industry
produ ual Once per Catering Industry
and Fume Emission
ct and dete half a 2.0mg/Nm Fume Emission GB18483-2001
finish Standards
cante ctio year Standards
ing (DB37/597-2006)
en n
fume
outlet
Odor
20
conce Triangle odor bag GB/T14675-
(dimensionl
ntrati method 1993
ess)
on Emission standards
Amm Man for odor pollutants
Boun onia ual Once per (GB 14554-1993),
Ion selective GB/T 14669-
dary (amm mon half a Comprehensive 1.5mg/Nm
electrode method 1993
odor onia itori year emission standard
gas) ng of air pollutants
Hydr (GB 16297-1996),
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD Onli Environmental 40mg/L Dichromate process HJ 828-2017
Sewa
Xiao Amm ne quality standards
ge Once per
yi onia mon for surface water Nessler’s reagent
treat 4 hours 2.0mg/L HJ535-2009
New nitrog itori (GB 3838-2002), spectrophotometry
ment
Hope en ng Discharge standard
statio
Liuhe Man of pollutants for Glass electrode
n pH 6-9 GB 6920-1986
Food ual municipal method
disch Once per
Co., Suspe mon wastewater
arge month
Ltd. nded itori treatment plant (GB 10mg/L Gravimetric method GB11901-89
outlet
solids ng 18918-2002)
101
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
BOD Dilution and
10mg/L HJ505-2009
5 inoculation method
Anim
al and
Infrared
veget 1mg/L HJ 637-2012
spectrophotometry
able
oil
Colif
Multi-tube
orm
1000/L fermentation and HJ637-2012
group
filtration membrane
s
Nitro
Non-dispersive
gen
150mg/Nm infrared absorption HJ 692-2014
oxide
Emission standard method
s
of air pollutants for
Boile Sulfi Man
boiler (GB 13271- Non-dispersive
r de ual Once per
2014), 50mg/Nm infrared absorption HJ 629-2011
disch dioxi mon half a
Comprehensive method
arge de itori year
emission standard
outlet Dust ng 10mg/Nm Gravimetric method HJ/T 398-2007
of air pollutants
Ringe (GB 16297-1996),
lman Ringelman
1 HJ/T 398-2007
black blackness chart
ness
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati method 1993
on
Amm
Odor
onia
treat Ion selective GB/T 14669-
(amm 4.9kg/h
ment electrode method 1993
onia
outlet
gas)
Hydr
ogen Gas GB/T14678-
Man 0.33kg/h
sulfid chromatography 1993
ual Once per Emission standards
e
mon half a for odor pollutants
Odor
itori year (GB 14554-1993),
conce Triangle odor bag GB/T14675-
ng 20
ntrati method 1993
on
Amm
Boun onia
Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
electrode method 1993
odor onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog Water quality 70mg/L ethylenediamine HJ 668-2013
Sewa en hydrochloride
standards for
Yishu ge spectrophotometry
Onli sewage discharged
i New treat
Amm ne into urban sewers
Hope ment Once per
onia mon (GB/T 31962- Nessler’s reagent
Liuhe statio 2 hours 45mg/L HJ535-2009
nitrog itori 2015), Discharge spectrophotometry
Food n
en ng standard of water
Co., disch
Total pollutants for meat Ammonium
Ltd. arge
phosp packing industry 8mg/L molybdate HJ 671-2013
outlet
horus (GB 13457-1992) spectrophotometry
Glass electrode
pH 6-8.5 GB 6920-1986
method
Suspe Man Once per 200mg/L Gravimetric method GB11901-89
102
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
nded ual quarter
solids mon
BOD itori Dilution and
250mg/L HJ505-2009
5 ng inoculation method
Anim
al and
Infrared
veget 50mg/L HJ 637-2012
spectrophotometry
able
oil
Colif
Multi-tube
orm
10000 fermentation and HJ637-2012
group
filtration membrane
s
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm Man
Boun onia ual Once per Emission standards
Ion selective GB/T 14669-
dary (amm mon half a for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia itori year (GB 14554-1993),
gas) ng
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 50mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 15mg/L ethylenediamine HJ 668-2013
en hydrochloride
Onli spectrophotometry
Amm ne
Once per
onia mon Discharge standard Nessler’s reagent
2 hours 5mg/L HJ535-2009
nitrog itori of pollutants for spectrophotometry
en ng municipal
Sewa Total wastewater Ammonium
ge phosp treatment plant (GB 0.5mg/L molybdate HJ 671-2013
treat horus 18918-2002), spectrophotometry
ment Discharge standard Glass electrode
pH 6-9 GB 6920-1986
statio of water pollutants method
n Suspe for meat packing
disch nded industry (GB 10mg/L Gravimetric method GB11901-89
Guan arge solids 13457-1992) ,
tao outlet BOD Standards for Dilution and
irrigation water 10mg/L HJ505-2009
Liuhe 5 inoculation method
Food Anim quality (GB 5084-
Co., al and Once per 2005)
Infrared
Ltd. veget month 1mg/L HJ 637-2012
spectrophotometry
able
oil
Colif Man
Multi-tube
orm ual
5000 fermentation and HJ637-2012
group mon
filtration membrane
s itori
Nitro ng
Non-dispersive
gen
200mg/Nm infrared absorption HJ 692-2014
oxide
Boile method
s Once per Emission standard
r
Sulfi year of air pollutants for
disch Non-dispersive
de boiler (GB 13271-
arge 50mg/Nm infrared absorption HJ 629-2011
dioxi 2014)
outlet method
de
Once per
Dust 10mg/Nm Gravimetric method HJ/T 398-2007
month
Odor Odor Once per Emission standards 2000 Triangle odor bag GB/T14675-
103
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
treat conce half a for odor pollutants method 1993
ment ntrati year (GB 14554-1993),
outlet on
Amm
onia
Ion selective GB/T 14669-
(amm 4.9kg/h
electrode method 1993
onia
gas)
Hydr
ogen Gas GB/T14678-
0.33kg/h
sulfid chromatography 1993
e
Cante Catering Industry
Catering Industry
en Fume Emission
Fume 2.0mg/Nm Fume Emission GB18483-2001
fume Standards
Standards
outlet (GB18483-2001),
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun onia Emission standards
Ion selective GB/T 14669-
dary (amm for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia (GB 14554-1993),
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 70mg/L ethylenediamine HJ 668-2013
en hydrochloride
spectrophotometry
Amm
onia Nessler’s reagent
45mg/L HJ535-2009
nitrog Water quality spectrophotometry
Sewa en standards for
ge
sewage discharged Glass electrode
treat pH 6-8.5 GB 6920-1986
into urban sewers method
ment
Suspe (GB/T 31962-
statio
nded 2015), Discharge 400mg/L Gravimetric method GB11901-89
n
Binzh solids standard of water
disch
ou BOD pollutants for meat Dilution and
arge 300mg/L HJ505-2009
Liuhe 5 Man packing industry inoculation method
outlet
Long Anim ual Once per (GB 13457-1992)
da al and mon half a
Infrared
Farmi veget itori year 60mg/L HJ 637-2012
spectrophotometry
ng able ng
Co., oil
Ltd. Colif
Multi-tube
orm
10000 fermentation and HJ637-2012
group
filtration membrane
s
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati method 1993
on
Odor
Amm Emission standards
treat
onia for odor pollutants
ment Ion selective GB/T 14669-
(amm (GB 14554-1993), 4.9kg/h
outlet electrode method 1993
onia
gas)
Hydr Gas GB/T14678-
0.33kg/h
ogen chromatography 1993
104
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
sulfid
e
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun onia
Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
electrode method 1993
odor onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 70mg/L ethylenediamine HJ 668-2013
Onli
en hydrochloride
ne
Once per spectrophotometry
mon
Amm 6 hours
itori
onia Nessler’s reagent
ng 45mg/L HJ535-2009
nitrog spectrophotometry
Sewa en
ge
Glass electrode
treat pH 6-8.5 GB 6920-1986
Discharge standard method
ment
Suspe of water pollutants
statio
nded for meat packing 300mg/L Gravimetric method GB11901-89
n
solids industry (GB
disch
BOD 13457-1992) Dilution and
arge 250mg/L HJ505-2009
outlet 5 inoculation method
Anim
al and
Infrared
veget 50mg/L HJ 637-2012
spectrophotometry
able
oil
Wudi Colif
Multi-tube
Liuhe orm
10000 fermentation and HJ637-2012
Xiny group
filtration membrane
ang s
Food Odor
Co., conce Triangle odor bag GB/T14675-
Ltd. 2000
ntrati method 1993
on Man
Amm ual
Odor Once per
onia mon
treat quarter Ion selective GB/T 14669-
(amm itori 4.9kg/h
ment electrode method 1993
onia ng
outlet
gas)
Hydr
ogen Gas GB/T14678-
0.33kg/h
sulfid Emission standards chromatography 1993
e for odor pollutants
Odor (GB 14554-1993),
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun
onia
dary Ion selective GB/T 14669-
(amm 1.5mg/Nm
odor electrode method 1993
onia
gas)
Hydr
0.06mg/Nm Gas GB/T14678-
ogen
chromatography 1993
sulfid
105
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
e
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
Onli
nitrog 70mg/L ethylenediamine HJ 668-2013
ne
en Once per hydrochloride
mon
6 hours spectrophotometry
itori
Amm
ng
onia Nessler’s reagent
45mg/L HJ535-2009
nitrog Water quality spectrophotometry
Sewa en standards for
ge
sewage discharged Glass electrode
treat pH 6-8.5 GB 6920-1986
into urban sewers method
ment
Suspe (GB/T 31962-
statio
nded 2015), Discharge 300mg/L Gravimetric method GB11901-89
n
solids standard of water
disch
BOD pollutants for meat Dilution and
arge 250mg/L HJ505-2009
Zoupi 5 packing industry inoculation method
outlet
ng Anim (GB 13457-1992)
Liuhe al and
Infrared
Lives veget 50mg/L HJ 637-2012
spectrophotometry
tock able
Co., oil
Ltd. Colif Man
Multi-tube
orm ual Once per
10000 fermentation and HJ637-2012
group mon half a
filtration membrane
s itori year
Odor ng
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun onia Emission standards
Ion selective GB/T 14669-
dary (amm for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia (GB 14554-1993),
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD Water quality 500mg/L Dichromate process HJ 828-2017
standards for Flow injection-
Total sewage discharged naphthalene
nitrog into urban sewers 70mg/L ethylenediamine HJ 668-2013
en (GB/T 31962-2015) hydrochloride
Onli Notice on Approval spectrophotometry
Amm ne and Release of the
Once per Modification List to
onia mon Nessler’s reagent
Shan 6 hours 4 Standards 21mg/L HJ535-2009
Sewa nitrog itori spectrophotometry
Coun en ng including the
ge
ty Total Comprehensive Ammonium
treat
Liuhe phosp Discharge 8mg/L molybdate HJ 671-2013
ment
Feed horus Standards for spectrophotometry
statio
Co., Water Pollutants Glass electrode
n pH 6-8.5 GB 6920-1986
Ltd. Along the South-to- method
disch
Food Suspe North Water
arge
Branc nded Diversion Project 300mg/L Gravimetric method GB11901-89
outlet
h solids in Shandong
BOD Man Province Dilution and
ual (L.Z.J.B.F. [2011] 250mg/L HJ505-2009
5 Once per inoculation method
mon No. 35),
quarter Notice on Approval
Total itori
salt ng and Release of the
Modification List to 1600mg/L Gravimetric method HJ/T 51-1999
conte
nt Add Total Salt
Content Index
106
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Limit in 4
Standards including
the Comprehensive
Discharge
Standards for
Water Pollutants
Along the South-to-
North Water
Diversion Project
in Shandong
Province
(L.Z.J.B.F. [2014]
No. 7)
Nitro Boiler Air Pollutant
Non-dispersive
gen Emission Standards
100mg/Nm infrared absorption HJ 692-2014
oxide (DB37/2374-2018,
method
s Ultra-low Emission
Sulfi No. 2 Modification
Boile Non-dispersive
de List to Shandong
r 50mg/Nm infrared absorption HJ 629-2011
dioxi Boiler Air Pollutant
disch method
de Emission Standards
arge
Dust (L.Z.J.B.F. [2016] 10mg/Nm Gravimetric method HJ/T 398-2007
outlet
No. 46),
Ringe Comprehensive
lman emission standard Ringelman
1 HJ/T 398-2007
black of air pollutants blackness chart
ness
(GB 16297-1996)
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati method 1993
on
Amm
Odor Once per
onia
treat half a Ion selective GB/T 14669-
(amm 4.9kg/h
ment year electrode method 1993
onia
outlet
gas)
Hydr
ogen Gas GB/T14678-
0.33kg/h
sulfid chromatography 1993
Emission standards
e
for odor pollutants
Odor
(GB 14554-1993),
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun onia
Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
electrode method 1993
odor onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
Onli
ne
Once per Water quality
Sewa COD mon 300mg/L Dichromate process HJ 828-2017
6 hours standards for
Cao ge itori
ng sewage discharged
Coun treat
into urban sewers
ty ment Amm
(GB/T 31962-
Liuhe statio onia Nessler’s reagent
Man 2015), Discharge 21mg/L HJ535-2009
Food n nitrog spectrophotometry
ual Once per standard of water
Co., disch en
mon half a pollutants for meat
Ltd. arge Glass electrode
pH itori year packing industry 6-8.5 GB 6920-1986
outlet method
ng (GB 13457-1992)
Suspe
300mg/L Gravimetric method GB11901-89
nded
107
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
solids
BOD Dilution and
250mg/L HJ505-2009
5 inoculation method
Anim
al and
Infrared
veget 50mg/L HJ 637-2012
spectrophotometry
able
oil
Colif
Multi-tube
orm
/ fermentation and HJ637-2012
group
filtration membrane
s
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm Man
Boun onia ual Once per Emission standards
Ion selective GB/T 14669-
dary (amm mon half a for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia itori year (GB 14554-1993),
gas) ng
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 70mg/L ethylenediamine HJ 668-2013
en Onli hydrochloride
ne spectrophotometry
Once per
Amm mon
6 hours
onia itori Nessler’s reagent
Discharge standard 45mg/L HJ535-2009
nitrog ng spectrophotometry
en of water pollutants
for meat packing
Sewa Total Ammonium
industry (GB
ge phosp 8mg/L molybdate HJ 671-2013
13457-1992)
treat horus spectrophotometry
Water quality
ment 1 times Glass electrode
pH standards for 6-8.5 GB 6920-1986
statio a day method
sewage discharged
n Suspe
into urban sewers
disch nded 200mg/L Gravimetric method GB11901-89
Jiaxia (GB/T 31962-2015)
arge solids
ng Integrated
outlet BOD Dilution and
New wastewater 250mg/L HJ505-2009
5 discharge standard inoculation method
Hope
Liuhe Anim (GB 8978-1996)
al and Once per
Food Infrared
veget quarter 50mg/L HJ 637-2012
Co., spectrophotometry
Ltd. able
oil
Man
Colif
ual Multi-tube
orm
mon / fermentation and HJ637-2012
group
itori filtration membrane
s
ng
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati method 1993
Emission standards
on
for odor pollutants
Odor Amm
Once per (GB 14554-1993),
treat onia
half a Comprehensive Ion selective GB/T 14669-
ment (amm 4.9kg/h
year emission standard electrode method 1993
outlet onia
of air pollutants
gas)
(GB 16297-1996)
Hydr
Gas GB/T14678-
ogen 0.33kg/h
chromatography 1993
sulfid
108
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
e
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun onia
Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
electrode method 1993
odor onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 60mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 20mg/L ethylenediamine HJ 668-2013
en Onli hydrochloride
ne spectrophotometry
Once per
Amm mon
6 hours
onia itori Nessler’s reagent
Discharge standard 10mg/L HJ535-2009
nitrog ng spectrophotometry
en of water pollutants
for meat packing
Sewa Total Ammonium
industry (GB
ge phosp 8mg/L molybdate HJ 671-2013
13457-1992)
treat horus spectrophotometry
Water quality
ment 1 times Glass electrode
pH standards for 6-8.5 GB 6920-1986
statio a day method
sewage discharged
n Suspe
into urban sewers
disch nded 30mg/L Gravimetric method GB11901-89
(GB/T 31962-2015)
arge solids
Integrated
Yunc outlet BOD Dilution and
wastewater 20mg/L HJ505-2009
heng 5 discharge standard inoculation method
Liuhe Anim (GB 8978-1996)
Food al and Once per
Infrared
Co., veget quarter 5mg/L HJ 637-2012
spectrophotometry
Ltd. able
oil
Colif Man
Multi-tube
orm ual
5000/L fermentation and HJ637-2012
group mon
filtration membrane
s itori
Nitro ng
Non-dispersive
gen
100mg/Nm infrared absorption HJ 692-2014
oxide
Boiler Air Pollutant method
s
Emission Standards
Boile Sulfi
(DB37/ 2374- Non-dispersive
r de Once per
2018), 50mg/Nm infrared absorption HJ 629-2011
disch dioxi half a
Comprehensive method
arge de year
emission standard
outlet Dust 10mg/Nm Gravimetric method HJ/T 398-2007
of air pollutants
Ringe (GB 16297-1996)
lman Ringelman
1 HJ/T 398-2007
black blackness chart
ness
COD Integrated 300mg/L Dichromate process HJ 828-2017
Sewa
Amm Onli Wastewater
ge
Ansh onia ne Discharge Standard Nessler’s reagent
treat Once per 30mg/L HJ535-2009
an nitrog mon (DB 21/1627-2008) spectrophotometry
ment 6 hours
Liuhe en itori Discharge standard
statio
Food ng of water pollutants Glass electrode
n pH 6-8.5 GB 6920-1986
Co., for meat packing method
disch
Ltd. Suspe Man industry (GB
arge Once per
nded ual 13457-1992) 300mg/L Gravimetric method GB11901-89
outlet quarter
solids mon Water quality
109
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
BOD itori standards for Dilution and
250mg/L HJ505-2009
5 ng sewage discharged inoculation method
Total into urban sewers Water quality test
dissol (GB/T 31962-2015) methods and
2000mg/L CJ/T 51
ved standards for urban
solids sewage
Colif Water quality test
orm methods and
10000/L CJ/T 51
group standards for urban
s sewage
Nitro
Non-dispersive
gen
400mg/Nm infrared absorption HJ 692-2014
oxide
method
s
Merc
ury
Emission standard Cold atomic
and 0.05mg/Nm
of air pollutants for absorption HJ 543-2009
Boile its
boiler (GB 13271- spectrometry
r comp
2014),
disch ounds
Comprehensive
arge Sulfi
emission standard Non-dispersive
outlet de
of air pollutants 400mg/Nm infrared absorption HJ 629-2011
dioxi
(GB 16297-1996) method
de
Dust 80mg/Nm Gravimetric method HJ/T 398-2007
Ringe
lman Ringelman
1 HJ/T 398-2007
black Once per blackness chart
ness month
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
onia
Ion selective GB/T 14669-
(amm 1.5mg/Nm
electrode method 1993
onia Emission standards
Boun
gas) for odor pollutants
dary
Hydr (GB 14554-1993),
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
Partic
ulate GB/T 15432-
1mg/Nm Gravimetric method
matte 1995
r
COD 50mg/L Dichromate process HJ 828-2017
Amm
onia Nessler’s reagent
8mg/L HJ535-2009
nitrog Onli spectrophotometry
en ne
Once per
mon Gas-Phase
Sewa Total 6 hours Integrated
itori molecular
Panji ge nitrog Wastewater 15mg/L HJ/T 199-2005
ng absorption
n treat en Discharge Standard
spectrometry
Liuhe ment (DB 21/1627-
Glass electrode
Farmi statio pH 2008), Discharge 6-8.5 GB 6920-1986
method
ng n standard of water
Suspe
Co., disch pollutants for meat
nded 20mg/L Gravimetric method GB11901-89
Ltd. arge packing industry
solids Man
outlet (GB 13457-1992) ,
BOD ual Dilution and
Once per 10mg/L HJ505-2009
5 mon inoculation method
month
Total itori Water quality test
dissol ng methods and
2000mg/L CJ/T 51
ved standards for urban
solids sewage
110
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Anim
al and
Infrared
veget 20mg/L HJ 637-2012
spectrophotometry
able
oil
Colif Water quality test
orm methods and
10000/L CJ/T 51
group standards for urban
s sewage
Nitro
Non-dispersive
gen
400mg/Nm infrared absorption HJ 692-2014
oxide
method
s
Merc
ury
Cold atomic
and 0.05mg/Nm
absorption HJ 543-2009
Boile its
Emission standard spectrometry
r comp
of air pollutants for
disch ounds
boiler (GB 13271-
arge Sulfi
2014), Non-dispersive
outlet de
400mg/Nm infrared absorption HJ 629-2011
dioxi
method
de
Dust 80mg/Nm Gravimetric method HJ/T 398-2007
Ringe
lman Ringelman
1 HJ/T 398-2007
black blackness chart
ness
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
onia
Ion selective GB/T 14669-
(amm 1.5mg/Nm
electrode method 1993
onia Emission standards
Boun
gas) for odor pollutants
dary
Hydr (GB 14554-1993),
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
Partic
ulate GB/T 15432-
1mg/Nm Gravimetric method
matte 1995
r
COD 60mg/L Dichromate process HJ 828-2017
Amm Notice on Approval
onia and Release of the Nessler’s reagent
Modification List to 10mg/L HJ535-2009
nitrog spectrophotometry
en 4 Standards
including the
Glass electrode
pH Comprehensive 6-8.5 GB 6920-1986
Sewa method
Discharge
Dong ge Suspe
Standards for
’e treat nded Man 30mg/L Gravimetric method GB11901-89
Water Pollutants
Liuhe ment solids ual
Once per Along the South-to-
Lvjia statio BOD mon Dilution and
quarter North Water 20mg/L HJ505-2009
Food n 5 itori inoculation method
Diversion Project
Co., disch Anim ng
in Shandong
Ltd. arge al and Province Infrared
outlet veget 5mg/L HJ 637-2012
(L.Z.J.B.F. [2011] spectrophotometry
able No. 35), Discharge
oil standard of water
Colif pollutants for meat Multi-tube
orm packing industry 10000/L fermentation and HJ637-2012
group (GB 13457-1992) filtration membrane
s
111
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati method 1993
on
Amm
Odor
onia Emission standards
treat Ion selective GB/T 14669-
(amm for odor pollutants 4.9kg/h
ment electrode method 1993
onia (GB 14554-1993),
outlet
gas) Notice on the
Hydr Implementation of
ogen Special Emission Gas GB/T14678-
0.33kg/h
sulfid Limits of Air chromatography 1993
Once per
e Pollutants in
half a
Odor Beijing-Tianjin-
year
conce Hebei Air Pollution Triangle odor bag GB/T14675-
20
ntrati Transmission method 1993
on Channel Cities
Amm (Ministry of
Boun onia Environmental
Protection Notice Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
No. 9, 2018) electrode method 1993
odor onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD Water Pollutant 60mg/L Dichromate process HJ 828-2017
Amm Onli Discharge
onia ne Standards for Down Nessler’s reagent
Once per 10mg/L HJ535-2009
nitrog mon Industry (GB spectrophotometry
6 hours
en itori 21901-2008)
ng Notice on Approval Glass electrode
pH and Release of the 6-8.5 GB 6920-1986
method
Suspe Modification List to
nded 4 Standards 30mg/L Gravimetric method GB11901-89
Sewa
solids including the
ge
BOD Comprehensive Dilution and
treat 15mg/L HJ505-2009
5 Discharge inoculation method
ment
Anio Standards for
statio Methylene blue
nic Water Pollutants
n 3mg/L spectrophotometric /
surfa Along the South-to-
Shen disch method
ctant North Water
Coun arge Once per
Anim Diversion Project
ty outlet month
al and in Shandong
New Province Infrared
Hope veget 5mg/L HJ 637-2012
(L.Z.J.B.F. [2011] spectrophotometry
Liuhe able
oil No. 35)
Qings Discharge standard
izhai Man
Colif of water pollutants
Food ual Multi-tube
orm for meat packing
Co., mon 10000/L fermentation and HJ637-2012
group industry (GB
Ltd. itori filtration membrane
s 13457-1992)
ng
Odor
conce Emission standards Triangle odor bag GB/T14675-
2000
ntrati for odor pollutants method 1993
on (GB 14554-1993),
Amm Modification List
Odor onia No. 2 to Shandong
Once per Ion selective GB/T 14669-
treat (amm Regional 4.9kg/h
half a electrode method 1993
ment onia Comprehensive Air
year
outlet gas) Pollutant Emission
Partic Standards
ulate (DB/372376-2013) GB/T 15432-
10mg/Nm Gravimetric method
matte (L.Z.J.B.F. [2016] 1995
r No. 46)
Hydr 0.33kg/h Gas GB/T14678-
112
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
ogen chromatography 1993
sulfid
e
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun onia
Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
electrode method 1993
odor onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 50mg/L Dichromate process HJ 828-2017
Amm
onia Water Pollutant Nessler’s reagent
Discharge 5mg/L HJ535-2009
nitrog Onli spectrophotometry
en ne Standards for Down
Once per Industry (GB
mon Naphthalene
Total 6 hours 21901-2008)
itori ethylenediamine
phosp Notice on Approval 0.3mg/L HJ 667-2013
ng hydrochloride
horus and Release of the spectrometry
Modification List to
Glass electrode
pH 4 Standards 6-8.5 GB 6920-1986
Sewa method
including the
ge Suspe
Comprehensive
treat nded 20mg/L Gravimetric method GB11901-89
Discharge
ment solids
Standards for
statio BOD Dilution and
Water Pollutants 10mg/L HJ505-2009
n 5 inoculation method
Along the South-to-
disch Anio North Water Methylene blue
arge nic Diversion Project 3mg/L spectrophotometric /
outlet surfa in Shandong method
ctant Once per Province
Anim month (L.Z.J.B.F. [2011]
al and No. 35)
Yang Infrared
veget Discharge standard 3mg/L HJ 637-2012
gu spectrophotometry
able of water pollutants
Liuhe
oil for meat packing
Luxin
Food Colif industry (GB Multi-tube
Co., orm 13457-1992) 5000/L fermentation and HJ637-2012
Ltd. group
filtration membrane
s Man
Odor ual
conce mon Triangle odor bag GB/T14675-
2000
ntrati itori method 1993
on ng
Amm
Emission standards
onia
for odor pollutants Ion selective GB/T 14669-
(amm 4.9kg/h
Odor (GB 14554-1993), electrode method 1993
onia
treat Modification List
gas)
ment No. 2 to Shandong
Partic Once per
outlet Regional
ulate half a GB/T 15432-
Comprehensive Air 10mg/Nm Gravimetric method
matte year 1995
Pollutant Emission
r
Standards
Hydr
(DB/372376-2013)
ogen Gas GB/T14678-
(L.Z.J.B.F. [2016] 0.33kg/h
sulfid chromatography 1993
No. 46)
e
Odor
Boun
conce Triangle odor bag GB/T14675-
dary 20
ntrati method 1993
odor
on
113
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Amm
onia
Ion selective GB/T 14669-
(amm 1.5mg/Nm
electrode method 1993
onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Amm
onia Nessler’s reagent
45mg/L HJ535-2009
nitrog spectrophotometry
en
Onli Gas-Phase
Total
ne molecular
nitrog Once per 70mg/L HJ/T 199-2005
mon absorption
en 6 hours
itori spectrometry
ng Naphthalene
Total
ethylenediamine
phosp 8mg/L HJ 667-2013
hydrochloride
horus Discharge standard
Sewa spectrometry
of water pollutants
ge Glass electrode
pH for meat packing 6-8.5 GB 6920-1986
treat method
industry (GB
ment Suspe
13457-1992)
statio nded 300mg/L Gravimetric method GB11901-89
Water quality
n solids
standards for
disch BOD Dilution and
sewage discharged 250mg/L HJ505-2009
arge 5 inoculation method
into urban sewers
outlet Anio (GB/T 31962-2015) Methylene blue
nic
20mg/L spectrophotometric /
Weif surfa
method
ang ctant Once per
Tianh Anim quarter
ui al and
Food Infrared
veget 50mg/L HJ 637-2012
Co., spectrophotometry
able
Ltd. oil
Colif
Multi-tube
orm
Man 5000/L fermentation and HJ637-2012
group
ual filtration membrane
s
mon
Duck
Partic itori
feath
ulate ng GB/T 15432-
er 30mg/Nm Gravimetric method
matte Comprehensive 1995
work
r Emission Standards
shop
of Regional Air
Odor
Pollutants in
conce Triangle odor bag GB/T14675-
Shandong Province 20
ntrati method 1993
Once per (DB37/ 2376-
on
half a 2013), Emission
Amm
year standards for odor
Boun onia
pollutants (GB Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
14554-1993), electrode method 1993
odor onia
Boiler Air Pollutant
gas)
Emission Standards
Hydr (DB37/2374- 2018)
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
Weif Sewa COD Discharge standard 500mg/L Dichromate process HJ 828-2017
Onli
ang ge Amm of water pollutants
ne
Hesh treat onia Once per for meat packing Nessler’s reagent
mon 45mg/L HJ535-2009
engy ment nitrog hour industry (GB spectrophotometry
itori
uan statio en 13457-1992)
ng
Food n Total Water quality 70mg/L Gas-Phase HJ/T 199-2005
114
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Co., disch nitrog standards for molecular
Ltd. arge en sewage discharged absorption
outlet into urban sewers spectrometry
(GB/T 31962-2015) Naphthalene
Total
ethylenediamine
phosp 8mg/L HJ 667-2013
hydrochloride
horus
spectrometry
Glass electrode
pH 6-8.5 GB 6920-1986
method
Suspe
nded 300mg/L Gravimetric method GB11901-89
solids
BOD Dilution and
250mg/L HJ505-2009
5 inoculation method
Anim
al and Once per
Infrared
veget quarter 50mg/L HJ 637-2012
spectrophotometry
able
oil
Colif
Multi-tube
orm
5000/L fermentation and HJ637-2012
group
filtration membrane
s
Cante Catering Industry
en Fume 2.0mg/Nm Fume Emission GB18483-2001
outlet Standards
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati Man method 1993
on ual
Amm mon
Odor
onia itori Comprehensive
treat Ion selective GB/T 14669-
(amm ng Emission Standards 8.7kg/h
ment electrode method 1993
onia of Regional Air
outlet
gas) Pollutants in
Hydr Shandong Province
ogen Once per (DB37/ 2376- Gas GB/T14678-
0.58kg/h
sulfid half a 2013), Emission chromatography 1993
e year standards for odor
Odor pollutants (GB
conce 14554-1993), Triangle odor bag GB/T14675-
20
ntrati Boiler Air Pollutant method 1993
on Emission Standards
Amm (DB37/2374- 2018)
Boun onia
Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
electrode method 1993
odor onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD Onli 70mg/L Dichromate process HJ 828-2017
Amm ne
Once per
onia mon Nessler’s reagent
Sewa 6 hours Discharge standard 15mg/L HJ535-2009
Luoy nitrog itori spectrophotometry
ge en ng of water pollutants
ang
treat for meat packing
Liuhe Glass electrode
ment pH industry (GB 6-8.5 GB 6920-1986
Huiq method
statio 13457-1992) ,
uan Total Man Ammonium
n Integrated
Food phosp ual 0.5mg/L molybdate HJ 670-2013
disch Once per wastewater
Co., horus mon spectrophotometry
arge month discharge standard
Ltd. Suspe itori
outlet (GB 8978-1996)
nded ng 60mg/L Gravimetric method GB11901-89
solids
BOD 25mg/L Dilution and HJ505-2009
115
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
5 inoculation method
Anim
al and
Infrared
veget 15mg/L HJ 637-2012
spectrophotometry
able
oil
Colif
Multi-tube
orm
5000/L fermentation and HJ637-2012
group
filtration membrane
s
Cante Catering Industry Catering Industry
en Fume Fume Emission 2.0mg/Nm Fume Emission GB18483-2001
vent Standards Standards
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Once per
Amm
half a
Boun onia Emission standards
year Ion selective GB/T 14669-
dary (amm for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia (GB 14554-1993)
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD Onli 350mg/L Dichromate process HJ 828-2017
Amm ne
Once per
onia mon Nessler’s reagent
2 hours 35mg/L HJ535-2009
nitrog itori spectrophotometry
en ng
Once per Glass electrode
pH Discharge standard 6-8.5 GB 6920-1986
month method
of water pollutants
Total Ammonium
Sewa Once per for meat packing
phosp 4mg/L molybdate HJ 670-2013
ge day industry (GB
horus spectrophotometry
treat 13457-1992) ,
Suspe
ment Integrated
nded 60mg/L Gravimetric method GB11901-89
statio wastewater
solids
n discharge standard
disch BOD (GB 8978-1996), Dilution and
25mg/L HJ505-2009
arge 5 concentration limits inoculation method
outlet Anim specified in sewage
al and Once per discharge
Hebi Infrared
veget month agreements 15mg/L HJ 637-2012
Liuhe spectrophotometry
able
Zhizh
oil
en
Colif Man
Food Multi-tube
orm ual
Co., 5000/L fermentation and HJ637-2012
group mon
Ltd. filtration membrane
s itori
Cante ng Catering Industry Catering Industry
en Fume Fume Emission 2.0mg/Nm Fume Emission GB18483-2001
vent Standards Standards
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Once per
Amm
half a
Boun onia Emission standards
year Ion selective GB/T 14669-
dary (amm for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia (GB 14554-1993)
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
116
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
COD 500mg/L Dichromate process HJ 828-2017
Amm
onia Nessler’s reagent
45mg/L HJ535-2009
nitrog spectrophotometry
en
Onli
Naphthalene
Total ne
Once per ethylenediamine
nitrog mon 70mg/L HJ 668-2013
6 hours hydrochloride
Sewa en itori
spectrometry
ge ng
Glass electrode
treat pH Water quality 6.5-9.5 GB 6920-1986
method
ment standards for
Total Ammonium
statio sewage discharged
phosp 8mg/L molybdate HJ 670-2013
n into urban sewers
horus spectrophotometry
disch (GB/T 31962-2015)
arge Suspe
nded 400mg/L Gravimetric method GB11901-89
outlet
solids
BOD Dilution and
350mg/L HJ505-2009
5 Once per inoculation method
Anim quarter
Laiw
al and
u Infrared
veget 100mg/L HJ 637-2012
New spectrophotometry
able
Hope
oil
Liuhe
Food Nitro
gen Controlled potential
Co., Ultra-low Emission 200mg/Nm HJ 693-2014
oxide electrolysis
Ltd. Boile No. 2 Modification
s
r List to Shandong
Sulfi Man
exhau Boiler Air Pollutant
de ual
st Emission Standards 50mg/Nm Iodometry HJ/T 56-2000
dioxi mon
stack (L.Z.J.B.F. [2016]
de itori
No. 46)
ng Boiler dust test
Dust 10mg/Nm GB 5468-91
method
Odor Once per
conce half a Triangle odor bag GB/T14675-
2000
ntrati year method 1993
on
Amm
Odor
onia Emission standards
treat Ion selective GB/T 14669-
(amm for odor pollutants 4.9kg/h
ment electrode method 1993
onia (GB 14554-1993),
outlet
gas)
Hydr
ogen Gas GB/T14678-
0.33kg/h
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Amm
onia Nessler’s reagent
45mg/L HJ535-2009
nitrog spectrophotometry
en
Water quality
Sewa Naphthalene
Dezh Total standards for
ge ethylenediamine
ou nitrog sewage discharged 70mg/L HJ 668-2013
treat Man hydrochloride
Liuhe en into urban sewers
ment ual Once per spectrometry
Zhika (GB/T 31962-
statio mon half a Glass electrode
ng pH 2015), Discharge 6.0-8.5 GB 6920-1986
n itori year method
Food standard of water
disch Total ng Ammonium
Co., pollutants for meat
arge phosp 8mg/L molybdate HJ 670-2013
Ltd. packing industry
outlet horus spectrophotometry
(GB 13457-1992)
Suspe
nded 300mg/L Gravimetric method GB11901-89
solids
BOD Dilution and
250mg/L HJ505-2009
5 inoculation method
117
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Colif
Multi-tube
orm
/ fermentation and HJ637-2012
group
filtration membrane
s
Anim
al and
Infrared
veget 50mg/L HJ 637-2012
spectrophotometry
able
oil
Ringe
lman Ringelman
Level 1 HJ/T 398-2007
black blackness chart
ness
Boiler Air Pollutant
Nitro
Boile Emission Standards
gen Controlled potential
r (DB37/ 2374- 150mg/Nm HJ 693-2014
oxide Once per electrolysis
exhau 2018), BEmission
s year
st standard of air
Sulfi
stack pollutants for boiler
de
(GB 13271- 2014), 50mg/Nm Iodometry HJ/T 56-2000
dioxi
de
Boiler dust test
Dust 10mg/Nm GB 5468-91
method
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati method 1993
on
Amm
Odor
onia Once per Emission standards
treat Ion selective GB/T 14669-
(amm half a for odor pollutants 4.9kg/h
ment electrode method 1993
onia year (GB 14554-1993),
outlet
gas)
Hydr
ogen Gas GB/T14678-
0.33kg/h
sulfid chromatography 1993
e
COD Notice on Approval 50mg/L Dichromate process HJ 828-2017
Amm and Release of the
onia Modification List to Nessler’s reagent
5mg/L HJ535-2009
nitrog Onli 4 Standards spectrophotometry
en ne including the
Once per Comprehensive
mon Naphthalene
Total 6 hours Discharge
itori ethylenediamine
phosp Standards for 0.3mg/L HJ 667-2013
ng hydrochloride
horus Water Pollutants spectrometry
Along the South-to- Glass electrode
pH North Water 6-8.5 GB 6920-1986
Fei Sewa method
Suspe Diversion Project
Coun ge
nded in Shandong 20mg/L Gravimetric method GB11901-89
ty treat
solids Province
Liuhe ment
(L.Z.J.B.F. [2011] Gas-Phase
Huah statio Total No. 35), molecular
ai n nitrog 20mg/L HJ/T 199-2005
Discharge standard absorption
Food disch en of water pollutants spectrometry
Co., arge
BOD Man for meat packing Dilution and
Ltd. outlet 10mg/L HJ505-2009
5 ual industry (GB inoculation method
Once per 13457-1992)
Anim mon
month Comprehensive
al and itori
ng Discharge Infrared
veget 3mg/L HJ 637-2012
Standards for Water spectrophotometry
able
oil Pollutants Along
the South-to-North
Colif Water Diversion Multi-tube
orm Project in Shandong 10000/L fermentation and HJ637-2012
group Province (DB37/ filtration membrane
s 599-2006)
118
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Modification List to
Add Total Nitrogen
Limit in 4
Standards including
the Comprehensive
Discharge
Standards for Water
Pollutants Along
the South-to-North
Water Diversion
Project in Shandong
Province
(DB37/599-2006)
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun onia Once per Emission standards
Ion selective GB/T 14669-
dary (amm half a for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia year (GB 14554-1993)
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 300mg/L Dichromate process HJ 828-2017
Amm
onia Nessler’s reagent
30mg/L HJ535-2009
nitrog spectrophotometry
en Onli
Total ne Ammonium
Once per
phosp mon 5mg/L molybdate
2 hours
horus itori spectrophotometry
Total ng
Discharge standard
Sewa nitrog 50mg/L Spectrophotometry
of water pollutants
ge en
for meat packing
treat Glass electrode
pH industry (GB 6-8.5 GB 6920-1986
ment method
13457-1992) ,
statio Suspe
Integrated
n nded 300mg/L Gravimetric method GB11901-89
Wastewater
disch solids
Fuxin Discharge Standard
arge BOD Dilution and
Liuhe (DB 21/ 1627- 250mg/L HJ505-2009
outlet 5 inoculation method
Farmi 2008)
Anim
ng
al and Once per
Co., Infrared
veget quarter 50mg/L HJ 637-2012
Ltd. spectrophotometry
able
Food
oil
Branc
h Colif
orm Man Fermentation
/ GB5750
group ual method
s mon
Nitro itori
Non-dispersive
gen ng Once per
200mg/Nm infrared absorption HJ 692-2014
oxide month
method
s
Boile Sulfi
Emission standard Non-dispersive
r de
of air pollutants for 50mg/Nm infrared absorption HJ 629-2011
disch dioxi
boiler (GB 13271- method
arge de
Once per 2014),
outlet Dust 20mg/Nm Gravimetric method HJ/T 398-2007
year
Ringe
lman Ringelman
Level 1 HJ/T 398-2007
black blackness chart
ness
119
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati method 1993
on
Amm
Odor
onia
treat Ion selective GB/T 14669-
(amm 4.9kg/h
ment electrode method 1993
onia
outlet
gas)
Hydr
ogen Gas GB/T14678-
0.33kg/h
sulfid chromatography 1993
Once per Emission standards
e
half a for odor pollutants
Odor
year (GB 14554-1993),
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm
Boun onia
Ion selective GB/T 14669-
dary (amm 1.5mg/Nm
electrode method 1993
odor onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Amm
onia Nessler’s reagent
25mg/L HJ 535-2009
nitrog spectrophotometry
en Water Pollutant
Discharge Naphthalene
Total Onli
Standards for Down ethylenediamine GB/T 16488-
phosp ne 8mg/L
Once per Industry (GB hydrochloride 1996
horus mon
6 hours 21901-2008) spectrometry
itori
ng Notice on Approval Upper limit
and Release of the 8.5
Modification List to dimensionle
Glass electrode
pH 4 Standards ss, lower GB 6920-1986
Sewa method
including the limit: 6
ge
Comprehensive dimensionle
Taiqi treat
Discharge ss
an ment
Suspe Standards for
count statio
nded Water Pollutants 300mg/L Gravimetric method GB11901-89
y n
solids Along the South-to-
New disch
BOD North Water Dilution and
Hope arge 250mg/L HJ505-2009
5 Diversion Project inoculation method
Liuhe outlet
in Shandong Alkaline potassium
Luxin Total Province persulfate digestion
Food nitrog 45mg/L HJ 636-2012
(L.Z.J.B.F. [2011] UV
Co., en
Once per No. 35) spectrophotometry
Ltd.
Anim month Discharge standard
Man of water pollutants
al and
ual for meat packing Infrared
veget 50mg/L HJ 637-2012
mon industry (GB spectrophotometry
able
itori 13457-1992)
oil
ng
Colif
Multi-tube
orm
10000mg/L fermentation and HJ637-2012
group
filtration membrane
s
Boile Ringe Emission standards
r lman for odor pollutants Ringelman
Once per 1mg/Nm HJ/T 398-2007
exhau black (GB 14554-1993), blackness chart
half a
st ness Modification List
year
treat Nitro No. 2 to Shandong Naphthalene
30mg/Nm HJ/T 43-1999
ment gen Regional ethylenediamine
120
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
disch oxide Comprehensive Air hydrochloride
arge s Pollutant Emission spectrometry
outlet Standards Determination of
(DB/372376-2013) particulate matter in
Partic
(L.Z.J.B.F. [2016] stationary pollution
ulate GB/T 16157-
No. 46) 5mg/Nm source emissions
matte 1996
and sampling
r
method for gaseous
pollutants
Sulfi
de
10mg/Nm Iodometry HJ/T 56-2000
dioxi
de
Odor
conce 2000mg/Nm Triangle odor bag GB/T14675-
Sewa ntrati method 1993
ge on
treat Amm
ment onia
Ion selective GB/T 14669-
statio (amm 1.5mg/Nm
electrode method 1993
n onia
disch gas)
arge Hydr
outlet ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
Alkaline potassium
Total
persulfate digestion
nitrog 70mg/L HJ 636-2012
UV
en
spectrophotometry
Onli
6-8.5
ne Glass electrode GB/T 6920-
pH Once per (dimensionl
mon method 1986
6 hours ess)
itori
Amm Discharge standard
ng
Sewa onia of pollutants for Nessler’s reagent
45mg/L HJ 535-2009
ge nitrog municipal spectrophotometry
treat en wastewater
ment COD treatment plant (GB 500mg/L Dichromate process HJ 828-2017
statio BOD 18918-2002) Dilution and
250mg/L HJ 505-2009
n 5 Discharge standard inoculation method
disch Anim of water pollutants
arge al and for meat packing
outlet industry (GB Infrared
Laoti veget 50mg/L HJ 637-2018
13457-1992) spectrophotometry
ng able
Once per
Liuhe oil
month
Xinm Suspe
GB/T 11901-
eizi nded 300mg/L Gravimetric method
1989
Food solids
Co., Fecal
Ltd. Multi-tube
colifo 10000/L HJ 347.2-2018
Man fermentation
rms
ual
Amm
mon
onia
itori Nessler’s reagent
(amm 4.9kg/h HJ 533-2009
Wast ng spectrophotometry
onia
e gas
gas)
outlet
Supplement
of
Once per Emission standards 5.4.10.3 of the
sewa
Hydr half a for odor pollutants Fourth Edition
ge Methylene blue
ogen year (GB 14554-1993), of Air and
treat 0.33kg/h spectrophotometric
sulfid Exhaust Gas
ment method
e Monitoring and
statio
Analysis
n
Methods
Odor 2000 Triangle odor bag GB/T 14675-
conce (dimensionl method 1993
121
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
ntrati ess)
on
Amm
onia
Nessler’s reagent
(amm 4.9kg/h HJ 533-2009
spectrophotometry
onia
Disch gas)
arge Supplement
outlet 5.4.10.3 of the
of Hydr Fourth Edition
Methylene blue
slaug ogen of Air and
0.33kg/h spectrophotometric
hterin sulfid Exhaust Gas
method
g e Monitoring and
work Analysis
shop Methods
Odor
2000
conce Triangle odor bag GB/T 14675-
(dimensionl
ntrati method 1993
ess)
on
COD 50mg/L Dichromate process HJ 828-2017
Amm Onli
onia ne Nessler’s reagent
Once per 5mg/L HJ 668-2013
Sewa nitrog mon spectrophotometry
1 hours
ge en itori
treat ng Discharge standard Glass electrode
pH 6--9 HJ535-2009
ment of water pollutants method
statio Suspe for meat packing
Qixia n nded industry (GB 60mg/L Gravimetric method GB11901-89
Refri disch solids 13457-1992)
gerati arge Anim
on outlet al and
Infrared
Facto veget 15mg/L HJ 637-2012
spectrophotometry
ry of able
Shan oil
dong Boun Emission standards Methylene blue
Foul GB/T14675-
New dary Man for odor pollutants 0.1mg/Nm spectrophotometric
smell 1993
Hope odor ual (GB 14554-1993), method
Liuhe Once per
Nitro mon
Grou quarter
gen itori Controlled potential
p Co., 200mg/Nm HJ693-2014
oxide ng electrolysis
Ltd. s
Boile
Sulfi Emission standard
r
de of air pollutants for Controlled potential
exhau 50mg/m HJ/T57-2000
dioxi boiler (GB 13271- electrolysis
st
de 2014)
stack
Partic
ulate GB/T15432-
20mg/Nm Gravimetric method
matte 1995
r
COD
COD Dichromate process HJ 828-2017
30mg/l
Amm
Ammonia
onia Nessler’s reagent
nitrogen HJ535-2009
Sewa nitrog spectrophotometry
1.5mg/l
Laiya ge en
ng treat Onli Comprehensive Glass electrode
pH pH6-9 GB 6920-1986
Tiany ment ne Discharge Standard method
Once per
e statio Anim mon of Water Pollutants Infrared
24 hours ≤5mg/L HJ 637-2012
Food n al oil itori in Shandong spectrophotometry
Co., disch Total ng Peninsula Basin Total Ammonium
Ltd. arge phosp (DB37/676-2007) phosphorus molybdate HJ 671-2013
outlet horus 0.5mg/l spectrophotometry
Flow injection-
Total Total
naphthalene
nitrog nitrogen HJ 668-2013
ethylenediamine
en 15mg/l
hydrochloride
122
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
spectrophotometry
Nitro
gen Ultra-low Emission Laser backscattering GB/T16157-
200mg/m
oxide No. 2 Modification method 1996
s List to Shandong
Boile Man
Sulfi Boiler Air Pollutant
r ual
de Once per Emission Standards
disch mon 50mg/m
dioxi quarter (L.Z.J.B.F. [2016] Ultraviolet
arge itori
de No. 46) differential optical
outlet ng HJ/T397-2007
Partic Emission standards absorption
ulate for odor pollutants spectroscopy
20mg/m
matte (GB 14554-1993)
r
COD 450mg/L Dichromate process HJ 828-2017
Amm
onia Nessler’s reagent
35mg/L HJ535-2009
nitrog spectrophotometry
en
Onli
Naphthalene
Total ne
Once per ethylenediamine
nitrog mon 70mg/L HJ 668-2013
2 hours hydrochloride
Sewa en itori
spectrometry
ge ng
Glass electrode
treat pH Gravimetric method 6-8.5 GB 6920-1986
method
ment for determination of
Total Ammonium
statio suspended solids in
phosp 8mg/L molybdate HJ 670-2013
n water GB11901-
horus spectrophotometry
disch 1989
arge Suspe
outlet nded 256mg/L Gravimetric method GB11901-89
solids
BOD Dilution and
150mg/L HJ505-2009
5 Once per inoculation method
Anim quarter
al and
Infrared
veget 50mg/L HJ 637-2012
spectrophotometry
able
Tai'a
oil
n
Nitro
Taish
gen Once per Controlled potential
an 100mg/Nm HJ 693-2014
oxide month electrolysis
Liuhe
s
Food
Co., Partic
Ltd. ulate GB/T15432-
Boile 10mg/Nm Gravimetric method
matte 1995
r Boiler Air Pollutant
r Man
exhau Emission Standards
Sulfi ual
st (DB37/2374-2018)
de mon Once per
stack 50mg/Nm Iodometry HJ/T 56-2000
dioxi itori year
de ng
Ringe
lman Boiler dust test
10mg/Nm GB 5468-91
black method
ness
Odor
conce Triangle odor bag GB/T14675-
2000
ntrati method 1993
on
Amm
Odor
onia Once per Emission standards
treat Ion selective GB/T 14669-
(amm half a for odor pollutants 4.9kg/h
ment electrode method 1993
onia year (GB 14554-1993)
outlet
gas)
Hydr
ogen Gas GB/T14678-
0.33kg/h
sulfid chromatography 1993
e
123
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 70mg/L ethylenediamine HJ 668-2013
en hydrochloride
Onli spectrophotometry
Amm ne
Once per
onia mon Nessler’s reagent
2 hours 45mg/L HJ535-2009
nitrog itori spectrophotometry
en ng
Water quality
Sewa Total Ammonium
standards for
ge phosp 8mg/L molybdate HJ 671-2013
sewage discharged
treat horus spectrophotometry
into urban sewers
ment Glass electrode
pH (GB/T 31962- 6-8.5 GB 6920-1986
statio method
2015), Discharge
n Suspe
standard of water
disch nded 200mg/L Gravimetric method GB11901-89
pollutants for meat
arge solids
packing industry
outlet BOD Dilution and
(GB 13457-1992) 250mg/L HJ505-2009
5 inoculation method
Man
Anim
ual
al and Once per
mon Infrared
Shan veget quarter 50mg/L HJ 637-2012
itori spectrophotometry
dong able
ng
New oil
Hope Colif
Multi-tube
Liuhe orm
10000 fermentation and HJ637-2012
Grou group
filtration membrane
p Co., s
Ltd. Nitro
Linyi Non-dispersive
gen Once per
Branc 200mg/Nm infrared absorption HJ 692-2014
oxide month
h method
s
Boile Sulfi Man
Non-dispersive
r de ual Boiler Air Pollutant
50mg/Nm infrared absorption HJ 629-2011
disch dioxi mon Emission Standards
method
arge de itori (DB37/ 2374-2018)
Once per
outlet Dust ng 10mg/Nm Gravimetric method HJ/T 398-2007
year
Ringe
lman Ringelman
1 HJ/T 398-2007
black blackness chart
ness
Odor
conce Triangle odor bag GB/T14675-
20
ntrati method 1993
on
Amm Man
Boun onia ual Once per Emission standards
Ion selective GB/T 14669-
dary (amm mon half a for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia itori year (GB 14554-1993),
gas) ng
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 500mg/L Dichromate process HJ 828-2017
Sewa Amm
Qing
ge onia Nessler’s reagent
dao Onli 45mg/L HJ 535-2009
treat nitrog Continuo Water quality spectrophotometry
Liuhe ne
ment en us standards for
Wanf mon
statio monitori sewage discharged Glass electrode
u pH itori 6.5-9.5 GB 6920-1986
n ng into urban sewers method
Food ng
disch (GB/T 31962-2015) Velocity method
Co.,
arge Flow \ (ultrasonic flow
Ltd.
outlet meter)
Total Man Once per 70mg/L Alkaline potassium HJ 636-2012
124
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
nitrog ual half a persulfate digestion
en mon year UV
itori spectrophotometry
Total ng Ammonium
GB/T11893-
phosp 8mg/L molybdate
1989
horus spectrophotometry
Suspe
GB/T11901-
nded 400mg/L Gravimetric method
1989
solids
BOD Dilution and
350mg/L HJ505-2009
5 inoculation method
Anim
al and
Infrared
veget 100mg/L HJ 637-2018
spectrophotometry
able
oil
Colif
orm Enzyme substrate
\ HJ 1001-2018
group technique
s
Nitro
gen Once per Controlled potential
200mg/Nm HJ 693-2014
oxide month Comprehensive electrolysis
s Emission Standards
Boile Man
Sulfi for Regional Air
r ual Non-dispersive
de Pollutants (DB37/
disch mon 50mg/Nm infrared absorption HJ 629-2011
dioxi 2376-2019)
arge itori method
de Once per Comprehensive
outlet ng
Dust year Emission Standards 10mg/Nm Gravimetric method HJ/T 398-2007
Fume for Air Pollutants Catering Industry
black (GB16279-1996) 2.0mg/Nm Fume Emission GB18483-2001
ness Standards
Fryin
Once per
g Infrared
Fume half a 1.5mg/Nm DB37/597-2006
chim spectrophotometry
year
ney
Man Shandong Emission
Smok
ual Once per Standards for
ing Infrared
Fume mon half a Cooking Fume in 1.5mg/Nm DB37/597-2006
chim spectrophotometry
itori year Catering Industry
ney
ng (DB37/ 597-2006)
Cante
en Once per Infrared
Fume 1.5mg/Nm DB37/597-2006
chim year spectrophotometry
ney
Amm
onia
Nessler’s reagent
(amm 4.9kg/h HJ 533-2009
spectrophotometry
onia
Wast
gas)
e gas
Supplement
outlet
Man 5.4.10.3 of the
of
Hydr ual Emission standards Fourth Edition
sewa Once per Methylene blue
ogen mon for odor pollutants of Air and
ge quarter 0.33kg/h spectrophotometric
sulfid itori (GB 14554-1993) Exhaust Gas
treat method
e ng Monitoring and
ment
Analysis
statio
Methods
n
Odor
2000
conce Triangle odor bag GB/T 14675-
(dimensionl
ntrati method 1993
ess)
on
Boundary Noise
Boun
Once per Emission Standards Daytime 60, Multi-functional
dary Noise GB12348-2008
quarter for Industrial nighttime 50 sound level meter
noise
Enterprises
Boun Odor Man Once per Emission standards 20 Triangle odor bag GB/T14675-
125
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
dary conce ual half a for odor pollutants method 1993
odor ntrati mon year (GB 14554-1993)
on itori
Amm ng
onia
Ion selective GB/T 14669-
(amm 1.5mg/Nm
electrode method 1993
onia
gas)
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
COD 40mg/L Dichromate process HJ 828-2017
Amm Onli
onia ne Nessler’s reagent
Once per 2mg/L HJ 535-2009
nitrog mon spectrophotometry
1 hours
en itori
ng Glass electrode
pH Jun. 9 GB 6920-1986
method
Total Ammonium
GB/T11893-
phosp 0.4mg/L molybdate
Environmental 1989
horus spectrophotometry
quality standards
Suspe
Sewa for surface water
nded 100mg/L Gravimetric method GB11901-89
ge (GB 3838-2002),
solids
treat Discharge standard
BOD Dilution and
ment of water pollutants 10mg/L HJ505-2009
5 inoculation method
statio for meat packing
n industry (GB Alkaline potassium
Total
disch 13457-1992) persulfate digestion
nitrog 2mg/L HJ 636-2012
arge Integrated UV
en Once per
outlet wastewater spectrophotometry
month
Anim discharge standard
al and (GB 8978-1996) Infrared
veget 20mg/L HJ 637-2012
spectrophotometry
able
oil
Fenxi
Colif
New
orm Multi-tube GB/T5750.12-
Hope 10000/L
group fermentation 2006
Liuhe
s
Food
Co., Phos Man
Ltd. phate ual
Ringe mon
lman itori Once per Ringelman
1mg/Nm HJ/T 398-2007
black ng year blackness chart
ness
Nitro
Boile gen Once per Controlled potential
50mg/Nm HJ693-2014
r oxide month electrolysis
s Boiler Air Pollutant
exhau
Emission Standards
st Determination of
(DB14/ 1929-
treat particulate matter in
Partic 2019),
ment stationary pollution
ulate Emission standards GB/T 16157-
disch 5mg/Nm source emissions
matte for odor pollutants 1996
arge and sampling
r Once per (GB 14554-1993)
outlet method for gaseous
year Comprehensive
pollutants
emission standard
Sulfi
of air pollutants
de Controlled potential
(GB 16297-1996) 35mg/Nm HJ57-2017
dioxi electrolysis
de
Odor
20
conce Once per Triangle odor bag
Boun (dimensionl GB/T14675-93
ntrati half a method
dary ess)
on year
Amm 1.5mg/Nm Sodium HJ534-2009
126
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
onia hypochlorite-
(amm salicylic acid
onia spectrophotometry
gas)
Supplement of
the Fourth
Hydr
Methylene blue Edition of Air
ogen 0.06mg/Nm
spectrophotometric and Exhaust
sulfid
method Gas Monitoring
e
and Analysis
Methods
Partic
ulate Once per
matte year
r
Feed
Partic
plant Once per
ulate 120mg/Nm GB/T15432-
disch half a Gravimetric method
matte 3.5Kg/h 1995
arge year
r
outlet
Emission standard Boundary Ambient
Daytime
for industrial Noise Emission
Boun Once per 60dB(A)
Leq enterprises noise at Standards for GB12348-2008
dary quarter Nighttime
boundary (GB Industrial
50dB(A)
12348-2008) Enterprises
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 70mg/L ethylenediamine HJ 668-2013
en hydrochloride
spectrophotometry
Amm
onia Nessler’s reagent
45mg/L HJ535-2009
nitrog spectrophotometry
en
Sewa Total Ammonium
Discharge standard
ge phosp 8mg/L molybdate HJ 671-2013
of water pollutants
treat horus Man spectrophotometry
for meat packing
ment ual Once per Glass electrode
pH industry (GB 6-8.5 GB 6920-1986
statio mon half a method
13457-1992)
n Suspe itori year
Agreements with
disch nded ng 300mg/L Gravimetric method GB11901-89
Linyi sewage treatment
arge solids
Liuhe plants
outlet BOD Dilution and
Hong 250mg/L HJ505-2009
5 inoculation method
chen
Anim
Farmi
al and
ng Infrared
veget 50mg/L HJ 637-2012
Co., spectrophotometry
able
Ltd.
oil
Colif
Multi-tube
orm
10000 fermentation and HJ637-2012
group
filtration membrane
s
Nitro
Non-dispersive
gen Once per
200mg/Nm infrared absorption HJ 692-2014
oxide month
Emission standard method
s
Boile Man of air pollutants for
Sulfi
r ual boiler (GB 13271- Non-dispersive
de
disch mon 2014), Boiler Air 50mg/Nm infrared absorption HJ 629-2011
dioxi
arge itori Pollutant Emission method
de Once per
outlet ng Standards
Dust year 10mg/Nm Gravimetric method HJ/T 398-2007
(DB37/2374- 2018)
Ringe
Ringelman
lman 1 HJ/T 398-2007
blackness chart
black
127
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
ness
Odor Catering Industry
conce Fume Emission
20 GB18483-2001
ntrati Standards
on (Tentative)
Amm Man
Boun onia ual Once per Emission standards
Ion selective GB/T 14669-
dary (amm mon half a for odor pollutants 1.5mg/Nm
electrode method 1993
odor onia itori year (GB 14554-1993),
gas) ng
Hydr
ogen 0.06mg/Nm Gas GB/T14678-
sulfid chromatography 1993
e
Air quality
Odor
Emission standards Determination of
conce GB T 14675-
for odor pollutants 20 malodor Three-
ntrati 1993
(GB 14554-1993) point comparative
Exha on
bag method
ust
Amm Air quality
cylin
onia Determination of
der GB/T 14669-
(amm 1.5mg/Nm ammonia Ion
for 1993
onia selective electrode
sewa
gas) method
ge
Air quality
treat
Determination of
ment
Hydr hydrogen sulfide,
statio
ogen 0.06mg/Nm methyl mercaptan, GB/T14678-
n
sulfid methyl sulfide and 1993
e dimethyl disulfide
Man
Gas
ual Once per
chromatography
dete half a
Air quality
Odor ctio year
Determination of
conce n GB T 14675-
20 malodor Three-
ntrati 1993
point comparative
on
Duck bag method
Pingy
- Amm Air quality
i
hangi onia Determination of
Liuhe GB/T 14669-
ng (amm 1.5mg/Nm ammonia Ion
Fada 1993
platfo onia selective electrode
Food
rm gas) method
Co.,
exhau Air quality
Ltd.
st Determination of
cylin Hydr hydrogen sulfide,
der ogen 0.06mg/Nm methyl mercaptan, GB/T14678-
sulfid methyl sulfide and 1993
e dimethyl disulfide
Gas
chromatography
Colif Comprehensive
orm Discharge Standard Multi-tube
10000/L GB 6920-1986
group of Water Pollutants fermentation
s in Basin Part 2:
Yishu River Basin Water quality
BOD (DB37/ 3416.2- Determination of GB 11901-
Aut 10mg/L
Main 5 2018), BOD5 Dilution and 1989
oma
sewa Once per Environmental inoculation test
tic
ge 6 hours quality standards Water quality
testi
outlet Amm for surface water Determination of
ng
onia (GB 3838-2002),/, Ammonia nitrogen
1.5mg/l HJ505-2009
nitrog Discharge standard Flow injection -
en of water pollutants salicylic acid
for meat packing spectrophotometry
Anim industry (GB Water quality
13457-1992) 3mg/L HJ 828-2017
al and Determination of
128
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
veget petroleum and
able animal and
oil vegetable oils
Infrared
spectrophotometry
Water quality
Determination of
COD 30mg/L HJ 668-2013
COD Dichromate
process
Water quality
Determination of
Total total nitrogen Flow
nitrog injection -
15mg/L HJ 666-2013
en (in naphthalene
N) ethylenediamine
hydrochloride
spectrophotometry
Water quality
pH Determination of
pH6-9 HJ 671-2013
value pH value Glass
electrode method
Water quality
Suspe
Determination of
nded 20mg/L HJ637-2018
suspended solids
solids
Gravimetric method
Water quality
Determination of
Total
total phosphorus
phosp GB/T11893-
0.3mg/L Flow injection -
horus 1989
ammonium
(in P)
molybdate
spectrophotometry
Air quality
Odor
Determination of
conce GB T 14675-
20 malodor Three-
ntrati 1993
point comparative
on
bag method
Amm Air quality
onia Determination of
Man GB/T 14669-
(amm 1.5mg/Nm ammonia Ion
ual Emission standards 1993
Boun onia Once per selective electrode
dete for odor pollutants
dary gas) month method
ctio (GB 14554-1993)
Air quality
n
Determination of
Hydr hydrogen sulfide,
ogen 0.06mg/Nm methyl mercaptan, GB/T14678-
sulfid methyl sulfide and 1993
e dimethyl disulfide
Gas
chromatography
COD 500mg/L Dichromate process HJ 828-2017
Flow injection-
Total naphthalene
nitrog 70mg/L ethylenediamine HJ 668-2013
Outle en hydrochloride
Beiji spectrophotometry
t of Onli
ng
sewa Amm ne Comprehensive
King 24 times
ge onia mon Discharge Standard Nessler’s reagent
hey a day 45mg/L HJ535-2009
treat nitrog itori of Water Pollutants spectrophotometry
Food
ment en ng (DB11/ 307-2013)
Co.,
statio Total Ammonium
Ltd.
n phosp 8.0mg/L molybdate HJ 671-2013
horus spectrophotometry
Glass electrode
pH 6.5-9 GB 6920-1986
method
Suspe Man Once per 400mg/L Gravimetric method GB11901-89
129
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
nded ual quarter
solids mon
BOD itori Dilution and
300mg/L HJ505-2009
5 ng inoculation method
Anim
al and
Infrared
veget 50mg/L HJ 637-2012
spectrophotometry
able
oil
Colif
Multi-tube
orm
10000/L fermentation and HJ 347.2-2018
group
filtration membrane
s
Outle
Non-
t of
meth Comprehensive
chem
ane Emission Standards Gas
cial 50mg/Nm HJ/T 38-1999
hydro of Air Pollutants chromatography
produ
carbo (DB11/ 501-2017)
ction
n
outlet
Man Infrared
Fume 1mg/Nm HJ 1077-2019
ual Once per spectrophotometry
Partic mon half a
ulate itori year Mannual weighing
Catering Industry 5mg/Nm DB11/T1485
matte ng method
Cante Fume Emission
r
en Standards
Non-
fume (Tentative)
meth
(GB18483-2001)
ane Gas
10mg/Nm HJ/T 38-1999
hydro chromatography
carbo
n
Nitro
gen Once per Controlled potential
80mg/Nm HJ 693-2014
oxide month electrolysis
s
Sulfi
de Controlled potential
Boile Man 50mg/Nm HJ 57-2017
dioxi electrolysis
r ual Boiler Air Pollutant
de
exhau mon Emission Standards
Partic
st itori (DB11/ 139-2015)
ulate Once per
outlet ng 20mg/Nm Gravimetric method HJ 836-2017
matte year
r
Ringe
lman Ringelman
Level 1 HJ/T398-2007
black blackness chart
ness
Amm
Nessler’s reagent
onia 1.5mg/Nm HJ533-2009
spectrophotometry
gas
Fourth Edition
Hydr Man of Air and
Fugiti Comprehensive Methylene blue
ogen ual Once per 0.06mg/Nm Exhaust Gas
ve Emission Standards spectrophotometric
sulfid mon half a Monitoring and
emiss of Air Pollutants method
e itori year Analysis
ion (DB11/ 501-2017)
ng Methods
Odor
conce Triangle odor bag
20mg/Nm HJ 1262-2022
ntrati method
on
Hebei Outle COD Onli 500mg/L Dichromate process HJ 828-2017
Comprehensive
King t of ne Glass electrode
pH 4 times a Discharge Standard 6.5-9 HJ1147-2020
hey sewa mon method
day of Water Pollutants
Meat ge Total itori Alkaline potassium
(DB11/ 307-2013) 70mg/L HJ 636-2012
Indus treat nitrog ng persulfate digestion
130
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
try ment en UV
Co., statio spectrophotometry
Ltd. n Amm
onia Nessler’s reagent
45mg/L HJ535-2009
nitrog spectrophotometry
en
Total Ammonium
phosp 8.0mg/L molybdate HJ 671-2013
horus spectrophotometry
Suspe
GB/T11901-
nded 400mg/L Gravimetric method
1989
solids
Phos GB/T11893-
1.0mg/L Spectrophotometry
phate 1989
BOD Dilution and
Man 300mg/L HJ505-2009
5 inoculation method
ual Once per
Anim
dete half a
al and
ctio year Infrared
veget 50mg/L HJ 637-2018
n spectrophotometry
able
oil
Colif
Multi-tube
orm GB/T5750.12-
10000/L fermentation and
group 2006
filtration membrane
s
Air Odor
flotati conce Triangle odor bag GB/T14675-
2000
on ntrati method 1993
tank on
exhau Amm
st onia
Nessler’s reagent
cylin (amm 8.7kg/h HJ533-2009
spectrophotometry
der, onia
desilt gas)
ing
room
exhau
st
cylin
der,
Man
grille
ual Once per Emission standards
exhau
mon half a for odor pollutants
st
itori year (GB 14554-1993)
cylin
ng
der,
Hydr
waiti
ogen Gas GB/T14678-
ng 0.58kg/h
sulfid chromatography 1993
pends
e
exhau
st
cylin
der,
harml
ess
treat
ment
disch
arge
outlet
Liaon Outle COD Integrated 300mg/L Dichromate process HJ 828-2017
ing t of Onli Wastewater Alkaline potassium
Total
King sewa ne Discharge Standard persulfate digestion
nitrog 4 times a 50mg/L HJ 636-2012
hey ge mon (DB 21/1627-2008) UV
en day
Food treat itori Discharge standard spectrophotometry
Co., ment Amm ng of water pollutants Salicylic acid
30mg/L HJ 536-2009
Ltd. statio onia for meat packing spectrophotometry
131
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
n nitrog industry (GB
en 13457-1992)
Total Ammonium
phosp 5mg/L molybdate GB 11893-1989
horus spectrophotometry
pH 6.0-8.5 Electrode method HJ 1147-2020
Suspe
nded 300mg/L Gravimetric method GB11901-1989
solids
BOD Dilution and
250mg/L HJ505-2009
5 inoculation method
Man
Anim
ual Once per
al and
mon quarter Infrared
veget 60mg/L HJ 637-2018
itori spectrophotometry
able
ng
oil
Colif
orm Rapid paper strip
10000 HJ 775-2015
group method
s
Odor
20
conce Triangle odor bag GB/T14675-
(dimensionl
ntrati method 1993
ess)
on Emission standards
Amm Man for odor pollutants
Boun onia ual Once per (GB 14554-1993),
Nessler’s reagent
dary (amm mon half a Comprehensive 1.5mg/Nm HJ 533-2009
spectrophotometry
odor onia itori year emission standard
gas) ng of air pollutants
Hydr (GB 16297-1996)
Methylene blue
ogen 0.06mg/Nm None (to be
spectrophotometric
sulfid verified)
method
e
COD All 500mg/L Dichromate process HJ 828-2017
Amm indi
onia cato Nessler’s reagent
45mg/L HJ 535-2009
nitrog rs spectrophotometry
en nee
d to Glass electrode
pH be 6.0-8.5 GB 6920-86
method
Total mon Ammonium
phosp itore 8mg/L molybdate GB 11893-89
horus d spectrophotometry
Suspe man
nded uall 400mg/L Gravimetric method GB 11901-89
Manual Water quality
solids y,
monitori standards for
BOD incl Dilution and
Chen ng: once sewage discharged 300mg/L HJ 505-2009
5 udin inoculation method
gdu Wast per half a into urban sewers
Anim g
Hope ewate year O (GB/T 31962-2015)
al and onli
Food r nline Discharge standard
veget ne 60mg/L Infrared photometry HJ637-2018
Co., outlet monitori of water pollutants
able mon
Ltd. ng: once for meat packing
oil itori
per two industry (GB
ng Water and
hours 13457-1992)
of Wastewater
Colif che Monitoring and
orm mic Multi-tube Analysis
al _
group fermentation Methods
s oxy (Fourth Edition)
gen (Supplementary
dem Edition)
and,
am Alkaline potassium
Total
mon persulfate digestion
nitrog 70mg/L HJ636-2012
ia UV
en
nitr spectrophotometry
132
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oge
n,
total
pho
sph
orus
,
total
nitr
oge
n
and
pH
Nitro
gen Once per Controlled potential
150mg/Nm HJ 693-2014
oxide month electrolysis
s
Sulfi
de Controlled potential
Boile Man 50mg/Nm HJ 57-2017
dioxi Emission standard electrolysis
r ual
de of air pollutants for
exhau mon
Partic boiler (GB 13271-
st itori
ulate Once per 2014)
outlet ng 20mg/Nm Gravimetric method HJ 836-2017
matte year
r
Ringe
lman Ringelman
Level 1 HJ/T398-2007
black blackness chart
ness
Amm
onia
Nessler’s reagent
(amm 1.5mg/Nm HJ533-2009
spectrophotometry
onia
gas)
Man Fourth Edition
Fugiti
Hydr ual Emission standards of Air and
ve 2 times a Methylene blue
ogen mon for odor pollutants 0.06mg/Nm Exhaust Gas
emiss year spectrophotometric
sulfid itori (GB 14554-1993) Monitoring and
ion method
e ng Analysis
Methods
Odor
conce Triangle odor bag GB/T14675-
20mg/Nm
ntrati method 1993
on
COD 500mg/L Dichromate process HJ 828-2017
Alkaline potassium
Total
persulfate digestion
nitrog 70mg/L HJ 636-2012
UV
en
Onli spectrophotometry
Amm ne
4 times a
onia mon Water quality Salicylic acid
day 45mg/L HJ 536-2009
Outle nitrog itori standards for spectrophotometry
Shan en ng
t of sewage discharged
dong
sewa Total into urban sewers Ammonium
King
ge phosp (GB/T 31962- 8mg/L molybdate GB 11893-1989
hey
treat horus 2015), Discharge spectrophotometry
Food
ment pH standard of water 6.0-8.5 Electrode method HJ 1147-2020
Co.,
statio Suspe pollutants for meat
Ltd.
n nded packing industry 400mg/L Gravimetric method GB11901-1989
solids Man (GB 13457-1992)
BOD ual Dilution and
Once per 300mg/L HJ505-2009
5 mon inoculation method
quarter
Anim itori
al and ng Infrared
60mg/L HJ 637-2018
veget spectrophotometry
able
133
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
oil
Odor
2000
conce Triangle odor bag GB/T14675-
(dimensionl
ntrati method 1993
ess)
on
Amm Man
onia ual Once per Emission standards
Wast Nessler’s reagent
(amm mon half a for odor pollutants 4.9mg/Nm HJ 533-2009
e gas spectrophotometry
onia itori year (GB 14554-1993)
gas) ng
Hydr
Methylene blue
ogen 0.33mg/Nm None (to be
spectrophotometric
sulfid verified)
method
e
Administrative penalties imposed due to environmental issues within the reporting period
Effects on
business
Name of company Results of Corrective measures
Reasons for penalty Violation operations of
or subsidiary penalty taken
the listed
company
The construction
location and capacity of
the emergency pool are
Shut down for
inconsistent with the
rectification,
EIA; the biogas slurry
construction of
storage pool is not
The actual environmental
covered to prevent rain; A fine of three
Guanling Xinmu construction is not No significant protection facilities
the situation of the hundred
Breeding Co., Ltd. in conformity with impact that need supporting
consumption site is not thousand yuan
the EIA construction, and
in conformity with the
put into production
EIA; no groundwater
or use after passing
monitoring and control
the inspection
wells, and no
groundwater monitoring
has been carried out
There is no impervious
ground in culture and
Set hidden pipes in
environmental protection
seepage wells, pits,
areas, the storm drains
crevices and caves, Active removal of
are stained with manure,
tampered or pigs to cut off
and the emergency pool
falsified monitoring pollution source in a
water is not up to the
data, or improper A fine of five timely manner, and
Guanling Xinmu standard; there is water No significant
operation of water hundred active cooperation
Breeding Co., Ltd. seepage under the wall impact
pollution prevention thousand yuan with the assessment
of the culture area,
facilities and other of ecological
which flows through the
ways to evade damage
storm drain to the open
supervision and compensation
space without seepage
control of water
control and forms a pit,
pollutants
and the water body in the
pit is black and smelly
Black water leaks from Replacement of
Abnormal operation
Yingtan Xinliu the oxidation pond as the A fine of two oxidation pond
of water pollution No significant
Technology Co., membrane breaks, hundred membrane and
prevention and impact
Ltd. forming overflows of thousand yuan grouting
control facilities
reclaimed water rectification.
Ningming Xinhao Solid waste (pig manure) Solid waste (pig A fine of nine No significant collection and
134
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Farming Co., Ltd. is not collected and manure) is not thousand impact storage of solid
stored as required collected and stored seven hundred waste (pig manure)
as required and twenty as required
two yuan
Violated Article 11
of the Regulations
on the Prevention
and Control of
Pollution from Strengthen the
Large-scale A fine of sixty publicity and
Longzhou Xinhao The breeding project is No significant
Livestock and eight thousand implementation of
Farming Co., Ltd. built in a scenic area impact
Poultry Breeding yuan the management
that “no livestock regulations
and poultry farms
and breeding areas
in the following
areas”
Risk management
Pollution (waste
Improper operation of air strengthened to
gas) control
pollution prevention and A fine of three control and reduce
equipment and
Wuhan Guoxiong control facilities and hundred and No significant pollutant discharge
production
Feed Co., Ltd. other ways to evade twenty impact from the source, and
equipment are not
supervision and control thousand yuan improve the
running at the same
of air pollutants wastewater
time
treatment process
Other environmental information required to be disclosed
Company Approving
Document name Date approved Approval number
name authority
Shandong Dezhou
Reply on the EIS of Linyi Liuhe
Environmental Dec. 24, 2010 D.H.Y. (2010) No. 65
Food Co., Ltd.
Protection Bureau
Linyi Liuhe
Shandogn Linyi
Food Co., Ltd. Acceptance Test Report on
County
Environmental Protection of Jun. 2017 L.H.J.Zi 2017 YS06-07
Environmental
Completed Construction Project
Protection Bureau
Reply on the EIS of the 15 million/a
Linyi
Duck Slaughtering and Food
Environmental Apr. 10, 2013 L.H.F. [2013] No. 53
Processing Project of Cangshan
Protection Bureau
Lanling New County Hongjun Food Co., Ltd.
Hope Liuhe Opinions on the Completion
Hongjun Food Acceptance of Environmental
Linyi
Co., Ltd. Protection for the 15 million/a Duck
Environmental Aug. 20, 2014 L.H.P.H. (2014) No. 341
Slaughtering and Food Processing
Protection Bureau
Project of Lanling New Hope Liuhe
Hongjun Food Co., Ltd.
Written Reply regarding the
Linyi
Approval Opinions on Broiler
Pingyi Environmental Dec. 7, 2001 L.H.H. [2001] No. 103
Slaughtering Line Project Phase II
Refrigeration Protection Bureau
of Pingyi Liuhe Co., Ltd.
Factory of
Opinions on the Completion
Shandong New
Acceptance of Environmental Linyi
Hope Liuhe
Protection of Broiler Slaughtering Environmental Jun. 2, 2003 P.H.S.Zi (2008) No. 41
Group Co., Ltd.
Line Project Phase II of Pingyi Protection Bureau
Liuhe Co., Ltd.
Qingdao Jiehua
Environmental Impact Report on
Environmental
Poultry Slaughterhouse Expansion Feb. 2020 P.H.S.Zi (2020) No. 100
Qingdao Technology Co.,
Project
Tianrun Food Ltd.
Co., Ltd. Environmental Impact Report on Pingdu
the 6 million/a Duck Processing Environmental Jan. 18, 2015 P.H.J.Zi [2005] No. 20
Plant Project Protection Bureau
135
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Acceptance Opinions on
Pingdu
Completion Acceptance of
Environmental Dec. 19, 2006 P.H.J.Zi [2003] No. 53
Environmental Protection of the
Protection Bureau
Meat Duck Processing Plant Project
Reply on the EIS of the Proposed
Linyi
90,000 t/a Poultry Meat and Deep
Environmental May 4, 2009 L.H.H. [2009] No. 245
Processing Plant Project of Yishui
Protection Bureau
Liuhe Kailida Food Co., Ltd.
Reply on the Application for
Commissioning of the New 90,000 Linyi
t/a Poultry Meat and Deep Environmental Aug. 21, 2010 L.H.H. [2010] No. 596
Processing Plant Project of Yishui Protection Bureau
Yishui New
Liuhe Kailida Food Co., Ltd.
Hope Liuhe
Reply on the EIS of the Sewage
Food Co., Ltd. Linyi
Treatment Improvement Project of
Environmental Jun. 24, 2011 L.H.H. [2011] No. 330
Yishui Liuhe Kailida Food Co.,
Protection Bureau
Ltd.
Reply on the Application for
Commissioning of the Sewage Linyi
Treatment Improvement Project of Environmental Oct. 12, 2012 L.H.H. [2012] No. 554
Yishui Liuhe Kailida Food Co., Protection Bureau
Ltd.
Meat Products Deep Processing and
Sewage Treatment Project Guantao County
Completion (Phased) Environmental May 22, 2017 G.H.B. [2017] No. 9
Environmental Acceptance Report Protection Bureau
of Guantao Liuhe Food Co., Ltd.
Meat Products Deep Processing and Guantao County
Sewage Treatment Project of Environmental Aug. 16, 2016 G.F.G.B.Zi [2016] No. 16
Guantao Liuhe Guantao Liuhe Food Co., Ltd. Protection Bureau
Food Co., Ltd. Reply on the EIS of the Broiler Handan
Slaughtering and Cutting Project of Environmental Mar. 4, 2009 H.H.H. [2009] No. 36
Guantao Liuhe Food Co., Ltd. Protection Bureau
Guantao County
Gas Boiler Technical Reform Bureau of
Project of Guantao Liuhe Food Co., Administrative Apr. 27, 2021 G.S.P.S.H.Zi [2012] No. 22
Ltd. Examination and
Approval
Binzhou
0.90 million/a Broiler and Duck
Environmental
Slaughtering and Cutting Project of Mar. 16, 2007 B.C.H.B. [2007] No. 11
Binzhou Liuhe Protection Bureau
Binzhou Longda Food Co., Ltd.
Longda Bincheng Branch
Farming Co., Binzhou
Ltd. Environmental
Acceptance Opinions Sept. 20, 2008 H.Y. [2008] No. 1-15
Protection Bureau
Bincheng Branch
Wudi Liuhe The 40,000/a Broiler Slaughtering Binzhou
Xinyang Food Plant Project of Binzhou Qinghe Environmental Feb. 26, 2007 B.H.Zi [2007] No. 30
Co., Ltd. Fushi Food Co., Ltd. Protection Bureau
Reply on the EIS of the 0.90
Zouping County
million/a Broiler Slaughtering Line
Environmental Sept. 8, 2009 Z.H.G.Zi (2009) No. 72
Project of Zouping Liuhe Farming
Zouping Liuhe Protection Bureau
Co., Ltd.
Livestock Co.,
Opinions on Completion
Ltd. Zouping County
Acceptance of Environmental
Environmental Dec. 7, 2010 Z.H.Y.B. (2010) No. 13
Protection of the 0.90 million/a
Protection Bureau
Broiler Slaughtering Line Project
The 30 million/a Duck Slaughtering
and Processing Plant Project of Heze Environmental
Jun. 11, 2012 H.H.S. [2012] No. 46
Shan County Liuhe Feed Co., Ltd. Protection Bureau
Shan County
Food Branch
Liuhe Feed Co.,
Completion Acceptance of
Ltd. Food
Environmental Protection of the 30
Branch Heze Environmental
million/a Duck Slaughtering and Sept. 30, 2017 H.Y. [2017] No. 108
Protection Bureau
Processing Plant Project of Shan
County Liuhe Feed Co., Ltd. Food
136
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Branch
New 20 million/a Duck
Cao County
Slaughtering and Processing Plant
Environmental Apr. 11, 2007 C.H.S. [2007] No. 44
Project of Cao County Liuhe Food
Protection Bureau
Co., Ltd.
Cao County
Completion Acceptance of
Liuhe Food
Environmental Protection of the
Co., Ltd. Cao County
New 20 million/a Duck
Environmental Jun. 10, 2008 C.H.S. [2008] No. 26
Slaughtering and Processing Plant
Protection Bureau
Project of Cao County Liuhe Food
Co., Ltd.
Jiaxiang New Meat Poultry Slaughtering and Jiaxiang County
Hope Liuhe Deep Processing Project of Jiaxiang Environmental Aug. 17, 2016 J.H.S. [2016] No. 2
Food Co., Ltd. New Hope Liuhe Food Co., Ltd. Protection Bureau
Reply on the EIS of Wastewater Yuncheng County
Treatment Improvement Project of Environmental Jul. 25, 2010 Y.H.S. [2010] No. 62
Yuncheng
Yuncheng Liuhe Food Co., Ltd. Protection Bureau
Liuhe Food
Completion Acceptance Form for Yuncheng County
Co., Ltd.
the Wastewater Treatment Environmental Oct. 13, 2014 Y.H.P.H. (2018) No. 6
Improvement Project Protection Bureau
The 15 million/a Duck Slaughtering
Tai'an County
and Processing Project of Liaoning
Environmental May 11, 2007 T.H.S.Zi [2007] No. 8
Honglu Agricultural Development
Protection Bureau
Co., Ltd.
Anshan Liuhe Opinions on Completion
Food Co., Ltd. Acceptance of Environmental
Tai'an County
Protection of the 15 million/a Duck
Environmental Jun. 29, 2008 T.H.Y.Zi [2008] No. 6
Slaughtering and Processing Project
Protection Bureau
of Liaoning Honglu Agricultural
Development Co., Ltd.
Reply on the EIS of the Meat Duck
Panjin
Cutting, Processing and
Environmental Dec. 30, 2010 P.H.F. [2010] No. 350
Refrigeration Plant Project of
Protection Bureau
Panjin Liuhe Farming Co., Ltd.
Panjin Liuhe
Opinions on Completion
Farming Co.,
Acceptance of Environmental
Ltd. Panjin
Protection of the Meat Duck
Environmental Nov. 29, 2012 P.F.H. [2012] No. 117
Cutting, Processing and
Protection Bureau
Refrigeration Plant Project of
Panjin Liuhe Farming Co., Ltd.
The 0.90 million/a Poultry
Dong’e County
Slaughtering and Refrigeration
Environmental Jul. 15, 2008 D.S.B. [2008] No. 55
Project of Dong'e Liuhe Lvjia Food
Protection Bureau
Dong’e Liuhe Co., Ltd.
Lvjia Food Co., Opinions on Completion
Ltd. Acceptance of the 0.90 million/a Dong’e County Environmental Protection
Poultry Slaughtering and Environmental Dec. 29, 2010 Report on Construction
Refrigeration Project of Dong'e Protection Bureau Project
Liuhe Lvjia Food Co., Ltd.
Reply on the EIS of the 48 million/a
Shen County
Duck Slaughtering Project of Shen
Environmental May 28, 2013 S.H.S. [2013] No. 43
County New Hope Liuhe
Shen County Protection Bureau
Qingsizhai Food Co., Ltd.
New Hope
Opinions on Completion
Liuhe
Acceptance of Environmental
Qingsizhai Shen County
Protection of the 48 million/a Duck
Food Co., Ltd. Environmental Jul. 28, 2014 S.H.Y. [2014] No. 12
Slaughtering Project of Shen
Protection Bureau
County New Hope Liuhe
Qingsizhai Food Co., Ltd.
Opinions on Filing of the 32
Yanggu Liuhe Yanggu County
million/a Duck Slaughtering Project
Luxin Food Environmental Dec. 28, 2016 Y.H.H. [2016] No. 123
of Yanggu Liuhe Luxin Food Co.,
Co., Ltd. Protection Bureau
Ltd.
Weifang Reply on the EIS of the Duck Shouguang
Tianhui Food Product Deep Processing Environmental Mar. 30, 2007 S.H.S.Zi (2007) No. 2
Co., Ltd. Industrialization Demonstration Protection Bureau
137
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Project of Weifang Tianhui Food
Co., Ltd.
Acceptance Opinions on the Duck
Product Deep Processing Packing Shouguang
Industrialization Demonstration Environmental Oct. 2007 None
Project of Weifang Tianhui Food Protection Bureau
Co., Ltd.
Anqiu Modern White Feather Anqiu
Broiler Industry Integrated Environmental Sept. 9, 2016 A.H.Zi [2016] No. 58
Weifang
Development Project, Weifang Protection Bureau
Heshengyuan
Anqiu
Food Co., Ltd. Pollution Control Facilities
Environmental Jan. 2019 A.H.Y.Zi [2019] No.034
Acceptance Form (Trial)
Protection Bureau
Review Opinions on New Broiler Luoyang
Processing Project of Luoyang Environmental Jul. 30, 2008 L.S.H. (2008) No. 226
Liuhe Huiquan Food Co., Ltd. Protection Bureau
Reply on the EIS of the New
Henan
Broiler Processing Project of
Luoyang Liuhe Environmental Nov. 14, 2008 Y.H.S. (2008) No. 262
Luoyang Liuhe Huiquan Food Co.,
Huiquan Food Protection Bureau
Ltd.
Co., Ltd.
Acceptance Opinions on
Environmental Protection of the Henan
New Broiler Processing Project of Environmental Oct. 15, 2010 L.H.J.Y. [2010] No. 52
Luoyang Liuhe Huiquan Food Co., Protection Bureau
Ltd.
Hebi Liuhe Status Quo Environmental Impact
Status Quo Environmental
Zhizhen Food Assessment Report retroactively No reply
Impact Assessment Report
Co., Ltd. filed in 2016
EIS of the Meat Poultry Processing Laicheng District
Industrialization Project of Laiwu Environmental Aug. 19, 2011 L.H.J. [2011] No. 82
Laiwu New
New Hope Liuhe Food Co., Ltd. Protection Bureau
Hope Liuhe
EIS on Air Pollution Control of Laiwu
Food Co., Ltd. L.H.B.G.B.[2018] No.
Laiwu New Hope Liuhe Food Co., Environmental Nov. 14, 2018
11142
Ltd. Protection Bureau
Acceptance Monitoring Report on
Environmental Protection of the Ling County
Completed 30,000/d Meat Duck Environmental
Dec. 1, 2009 L.H.J.Zi (2009) No. 39
Slaughtering Plant Project of Testing Station,
Dezhou Liuhe Zhikang Food Co., Dezhou
Dezhou Liuhe
Ltd.
Zhikang Food
Acceptance Opinions on
Co., Ltd.
Environmental Protection of the
Ling County
Completed 30,000/d Meat Duck
Environmental May 10, 2010 L.H.Y. (2010) No. 3
Slaughtering Plant Project of
Testing Station
Dezhou Liuhe Zhikang Food Co.,
Ltd.
Reply on the EIS of the 30 million/a
Fei County Linyi
Broiler Slaughtering and Processing
Liuhe Huahai Environmental Sept. 19, 2019 F.H.G.Zi (2019) No. 60
Project of Fei County Liuhe Huahai
Food Co., Ltd. Protection Bureau
Food Co., Ltd.
Reply on the EIS of the 25 million/a Fuxin
Broiler Slaughtering Project of Environmental
Jan. 10, 2017 F.H.T.S.S [2017] No.1
Fuxin Liuhe Farming Co., Ltd. Protection Bureau
Fuxin Liuhe Food Branch Taiping Branch
Farming Co., Reply on the Completion
Ltd. Food Acceptance of Environmental
Fuxin
Branch Facilities for the 15 million/a White
Environmental Mar. 10, 2010 F.H.F. [2010] No. 49
Feather Broiler Slaughtering and
Protection Bureau
Processing Project of Fuxin Liuhe
Farming Co., Ltd. Food Branch
Taiqian New EIS for Approval of the 120,000/d
Puyang Ecology
Hope Liuhe Duck Slaughtering Project of
and Environment Jul. 27, 2020 T.H.G.J.B. [2019] No. 26
Luxin Food Taiqian New Hope Liuhe Luxin
Bureau
Co., Ltd. Food Co., Ltd.
Laoting Liuhe Broiler Processing Line Project of Laoting County
Sept. 21, 2012 L.H.S. [2012] No. 08
Xinmeizi Food Laoting New Hope Liuhe Zhaotai Environmental
138
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Co., Ltd. Food Co., Ltd. constructed by Protection Bureau
Laoting Shengxiang Trade Co., Ltd.
Tangshan Ecology
Broiler Processing Line Upgrading and Environment
Sept. 25, 2020 L.H.P.B. [2020] No. 49
and Transformation Project Bureau Laoting
County Branch
Qixia Reply on the EIS of the Plant
Refrigeration Renovation and Sewage Treatment
Qixia
Factory of Reconstruction and Expansion
Environmental Dec. 18, 2012 None
Shandong New project of Qixia Refrigeration
Protection Bureau
Hope Liuhe Factory of Shandong New Hope
Group Co., Ltd. Liuhe Group Co., Ltd.
Acceptance Monitoring Report on Shandong Yantai
Environmental Protection of the 20 Ecology and
Laiyang Tianye
million/a Broiler Slaughtering and Environment May 1, 2020 L.H.F. [2020] No. 12
Food Co., Ltd.
Processing Project of Laiyang Bureau Laiyang
Tianye Food Co., Ltd. Branch
Reply on the EIS of the 30,000t/a
Poultry Slaughtering, Cutting and Linyi
Processing Line Relocation and Environmental Jul. 7, 2007 L.H.F. [2007] No. 73
Expansion Project of Shandong Protection Bureau
Shandong New
Dazhong Food Co., Ltd.
Hope Liuhe
Environmental Acceptance
Group Co., Ltd.
Opinions of the 30,000t/a Poultry
Linyi Branch Linyi
Slaughtering, Cutting and
Environmental Dec. 8, 2008 L.H.Y. [2008] No. 82
Processing Line Relocation and
Protection Bureau
Expansion Project of Shandong
Dazhong Food Co., Ltd.
EIS and Water Environmental
Impact Report of the 20,000t/a
Ocean University of
Meat Product and Frozen Fresh May 12, 2011 HDHP112137
China
Vegetable Project of Qingdao Liuhe
Wanfu Food Co., Ltd.
Reply on the EIS and Water
Environmental Impact Report of the Laixi
20,000t/a Meat Product and Frozen Environmental Jun. 3, 2011 X.H.S. [2011] No. 43
Fresh Vegetable Project of Qingdao Protection Bureau
Qingdao Liuhe
Liuhe Wanfu Food Co., Ltd.
Wanfu Food
Acceptance Test Report on
Co., Ltd.
Environmental Protection of the Laixi
20,000t/a Meat Product and Frozen Environmental Jan. 2014 X.Y.J.Z. [2013] No. 027
Fresh Vegetable Project of Qingdao Monitoring Station
Liuhe Wanfu Food Co., Ltd.
Letter of Environmental
Acceptance Opinions on the Laixi
20,000t/a Meat Product and Frozen Environmental Feb. 27, 2015 X.H.Y. [2015] No. 9
Fresh Vegetable Project of Qingdao Protection Bureau
Liuhe Wanfu Food Co., Ltd.
Reply on the EIA Standard to be
Adopted for the Broiler Farming Fenxi County
and Slaughtering and Feed Environmental Jan. 11, 2010 F.H.F. [2010] No. 5
Processing Project of Fenxi Protection Bureau
Hongchang Breeding Co., Ltd.
Reply on the EIS of the Broiler
Linfen
Farming and Slaughtering and Feed
Environmental Nov. 17, 2010 L.H.S.F [2010] No. 16
Processing Project of Fenxi
Fenxi New Protection Bureau
Hongchang Breeding Co., Ltd.
Hope Liuhe
Reply on the Environmental
Food Co., Ltd.
Protection Acceptance upon
Completion of Phase I (Feed
Linfen
Processing and Slaughtering
Environmental Jan. 20, 2012 L.H.S.Y. [2012] No. 5
Production Line) of the Broiler
Protection Bureau
Farming and Slaughtering and Feed
Processing Project of Fenxi
Hongchang Breeding Co., Ltd.
Reply on the EIS of the 100,000-ton Fenxi County Oct. 19, 2021 F.S.G.P. [2021] No. 59
139
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Feed Production Line Renovation Bureau of
and Expansion Project of Fenxi Administrative
County Chaoyang Farming Co., Services
Ltd.
Shandogn Pingyi
Pingyi Liuhe EIS of the 15 million/a Duck
County
Fada Food Co., Slaughtering Project of Pingyi Aug. 5, 2021 P.S.F. 1-149 [2021] No. 42
Environmental
Ltd. Liuhe Fada Food Co., Ltd.
Protection Bureau
Reply on the EIS of the 700,000/a
Lanshan District
Duck and Rabbit Slaughtering
Environmental Dec. 30, 2008 L.H.L.H. [2008] No. 423
Expansion Project of Linyi Liuhe
Linyi Liuhe Protection Bureau
Hongchen Farming Co., Ltd.
Hongchen
Reply on the Acceptance Report of
Farming Co.,
the 700,000/a Duck and Rabbit Lanshan District
Ltd. Acceptance
Slaughtering Expansion Project of Environmental L.H.L.H. (2010) No. 736
completed
Linyi Liuhe Hongchen Farming Protection Bureau
Co., Ltd.
Reply of Beijing Pinggu District
Beijing Pinggu
Environmental Protection Bureau
District
on the EIS of Quick Frozen Food Dec. 31, 2014 J.P.H.P.S. [2014] No. 450
Environmental
Beijing and Meat Product Processing and
Protection Bureau
Kinghey Food Supporting Facilities Project
Co., Ltd. Beijing Pinggu
District
Acceptance Opinions Jun. 1, 2015 P.H.Y. [2015] No. 71
Environmental
Protection Bureau
Reply on EIS of Nangong Hog
Hebei
Slaughtering and Meat Product
Environmental Aug. 6, 2004 J.H.G. [2004] No. 193
Deep Processing Project of Beijing
Hebei Kinghey Protection Bureau
Kinghey Food Co., Ltd.
Meat Industry
Hebei Provincial
Co., Ltd.
Department of
Acceptance Opinions Jan. 12, 2010 J.H.Y. [2010] No. 006
Environmental
Protection
Shenyang
Reply on FSR of Pig Slaughtering Environmental
Project of Liaoning Kinghey Food Protection Bureau Sept. 5, 2005 S.N.H.B.S.Zi [2005] No. 7
Co., Ltd. Puhe New Town
Liaoning
Branch
Kinghey Food
Shenyang
Co., Ltd.
Environmental Protection Environmental
Acceptance Opinions of Pig Protection Bureau Oct. 11, 2010 P.H.F.Y. [2010] No. 071
Slaughtering Project Puhe New Town
Branch
Application for Registration of
Xinjin County
Environmental Protection
Environmental Sept. 8, 2009 X.H.Y. [2009] No. 17
Acceptance of Completed
Protection Bureau
Construction Project
Application for Registration of
Xinjin County
Environmental Protection
Environmental Sept. 8, 2009 X.H.Y. [2009] No. 18
Acceptance of Completed
Protection Bureau
Construction Project
Low-Temperature Meat Product Xinjin County
Processing (Phase I and II) Environmental Oct. 14, 2008 X.H.J. [2008] No. 79
Chengdu Hope Construction Project Protection Bureau
Food Co., Ltd. High-Temperature Meat Product Xinjin County
Processing (Phase III) Construction Environmental Nov. 12, 2008 X.H.J. [2008] No. 80
Project Protection Bureau
Review and Approval of
Xinjin County
Environmental Impact Registration
Bureau of
Form of the 3,000t/a Quick Frozen
Administrative Jan. 5, 2016 X.S.Y.H.P. [2016] No. 1
and Prepared Food Production line
Examination and
Project of Chengdu Hope Food Co.,
Approval
Ltd.
Reply of Xinjin County Xinjin County
Jul. 3, 2014 X.H.J.F. [2014] No. 67
Environmental Protection Bureau Environmental
140
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
regarding Examination of the EIS Protection Bureau
of the New 35,000 t/a High-
temperature Meat Product
Production Line Renovation Project
of Chengdu Hope Food Co., Ltd.
Opinions on the Approval of EIS of
Xinjin County
Shandong Pig Slaughtering, Meat Processing
Bureau of
Kinghey Food and Storage Cold Chain Logistics Jun. 10, 2020 X.S.P.B.G.S. (2020) No. 2
Administrative
Co., Ltd. Construction Projects of Shandong
Services
Kinghey Food Co., Ltd.
Chenzhou Reply of Chenzhou Ecology and Chenzhou Ecology
Xinhao Environment Bureau on EIS of and Environment
May 6, 2020 A.S.H.Zi [2020] No. 15
Farming Co., Chenzhou Yizheng County Meitian Bureau Yizhang
Ltd. Breeding Pig Farm Project Branch
Reply of Hengnan County
Hengnan
Environmental Protection Bureau Hengnan County
County Muyun
on EIS of Hengnan County Muyun Environmental Aug. 28, 2018 N.H.P. [2018] No. 33
Eco-agriculture
Ecological Agriculture Protection Bureau
Co., Ltd.
Demonstration Park Project
Longhui New EIA Disclosure Commitment
Shaoyang Ecology
Hope Liuhe Approval Form for 6,750 sows/a
and Environment Aug. 31, 2020 S.S.H.S. No. 015
Farming Co., Construction Project of Longhui
Bureau
Ltd. New Hope Liuhe Farming Co., Ltd.
EIA Disclosure Commitment
Shaoyang Approval Form for Qiaotou Shaoyang Ecology
Xinmu Farming Ecological Farm Construction and Environment Dec. 2, 2020 S.S.H.S. No. 020
Co., Ltd. Project of Shaoyang Xinmu Bureau
Farming Co., Ltd.
Hengyang Reply on EIS of 200,000 Hengyang Ecology
Xinhao Commercial Pig Project of and Environment
Oct. 15, 2020 Q.H.P. [2020] No. 54
Farming Co., Hengyang Xinhao Farming Co., Bureau Hengnan
Ltd. Ltd. Branch
Chenzhou
Reply on EIS of Chenzhou Beihu Chenzhou Ecology
Xinhao
District Tonghe Fattening Farm and Environment Aug. 24, 2021 C.H.P. [2021] No. 56
Farming Co.,
Modification Project Bureau
Ltd.
Hainan Xinliu
Reply of Haikou Ecology and
Agricultural
Environment Bureau on EIS of Haikou Ecology and
Reclamation
6,750 Breeding Pigs Farm Environment Mar. 9, 2020 H.H.S. [2020] No. 29
Farming
Construction Project of Hainan Bureau
Technology
Xinliu Agricultural Reclamation
Co., Ltd.
Reply of the Department of
Hainan Ecology and Environment of Hailan Department of
Changjiang Province on EIS of New Hope Ecology and
Jan. 17, 2020 Q.H.H. [2020] No. 32
Xinliu Breeding Liuhe Baishanma Pig Breeding Environment of
Co., Ltd. Base Project inShiyuetian Town, Hailan Province
Changjiang County
Reply of the Department of
Ecology and Environment of Hailan Department of
Hainan Lingao
Province on EIS of New Ecology and
Xinliu Breeding Jan. 17, 2020 Q.H.H. [2020] No. 17
Construction of 6,000 Parental Environment of
Co., Ltd.
Breeding Pigs Farm Project in Hailan Province
Lingao County, Hainan Province
Hainan Xinliu
Reply of Haikou Ecology and
Agricultural
Environment Bureau on EIS of Haikou Ecology and
Reclamation
150,000 Pigs Fattening Farm Environment Dec. 15, 2020 H.H.S. [2020] No. 177
Farming
Project of Hainan Xinliu Bureau
Technology
Agricultural Reclamation
Co., Ltd.
Reply of the Department of
Hainan Ecology and Environment of Hailan Department of
Changjiang Province on EIS of New Hope Ecology and
Dec. 22, 2021 Q.H.H. [2021] No. 398
Xinliu Breeding Liuhe Baishanma Pig Breeding Environment of
Co., Ltd. Base Supporting Fattenning Project Hailan Province
in Shiyuetian Town, Changjiang
141
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
County
Reply of the Department of
Ecology and Environment of Hailan Department of
Hainan Lingao
Province on EIS of Pig Farm Ecology and
Xinliu Breeding Dec. 27, 2021 Q.H.H. [2021] No. 406
Project in Gancai Village, Polian Environment of
Co., Ltd.
Town, Lingao County, Hainan Hailan Province
Province
Reply of Laibin Environmental
Laibin Xinhao Laibin
Protection Bureau on EIS of
Farming Co., Environmental Sept. 7, 2017 L.H.S. [2017] No. 67
Guangxi Laibin 800,000
Ltd. Protection Bureau
Commercial Pigs Project
Reply of Laibin Ecology and
Environment Bureau on the EIS of Laibin Ecology and
Mumen In-house Fattening Project Environment Sept. 3, 2020 L.H.S. [2020] No. 68
in Maping Town, Xiangzhou Bureau
County
Reply of Xiangzhou County
Xiangzhou Environmental Protection Bureau Xiangzhou County
Xinhao on the EIS of Xiangzhou County Environmental Oct. 15, 2018 S.H.S. [2018] No. 25
Farming Co., New Hope Pig Breeding Business Protection Bureau
Ltd. Project
Reply of Laibin Xingbin Ecology
and Environment Bureau on the EIS Laibin Xingbin
of 180,000/a Hogs (Breeding and Ecology and
Apr. 29, 2019 X.H.S. [2019] No. 36
Farming Cycle) Farm Project in Environment
Chenliu Village, Shiling Town, Bureau
Laibin, Guangxi
Reply of Hezhou Ecology and
Hezhou Xinhao Environment Bureau on the EIS of Hezhou Ecology
Farming Co., New Hope Liuhe Ecological and Environment Jan. 6, 2020 H.H.S. [2020] No. 1
Ltd. Breeding Cycle Integration Project Bureau
in Pinggui District, Hezhou
Reply of Guigang Ecology and
Environment Bureau on the EIS of Guigang Ecology
21,000 Breeding Pigs Ecological and Environment Apr. 8, 2020 G.H.S. [2020] No. 7
Guigang Xinliu Breeding Business Project in Mapi Bureau
Farming Township, Guiping
Technology Reply of Guigang Ecology and
Co., Ltd. Environment Bureau on the EIS of Guigang Ecology
the Fast Pig Farm Ecological and Environment Jan. 4, 2020 G.H.S. [2021] No. 1
Breeding Project in Jiahe Village, Bureau
Mapi Township, Guiping
Reply of Laibin Xingbin Ecology
and Environment Bureau on the EIS Laibin Xingbin
Laibin Xinhao
of 180,000/a Hogs (Breeding and Ecology and
Farming Co., Apr. 29, 2019 X.H.S. [2019] No. 36
Farming Cycle) Farm Project in Environment
Ltd.
Chenliu Village, Shiling Town, Bureau
Laibin, Guangxi
Reply of Hechi Ecology and
Luocheng
Environment Bureau on the EIS of Hechi Ecology and
Xinhao
New Hope Liuhe Ecological Environment Dec. 24, 2019 H.H.S. [2019] No. 51
Farming Co.,
Breeding Cycle Pig Breeding Bureau
Ltd.
Project in Luocheng County, Hechi
Lipu Xinhao Reply on the EIS of Pig Breeding Guilin Bureau of
Farming Construction Project of Lipu Administrative S.S.P.H.P.X.K. [2020] No.
Aug. 12, 2020
Technology Xinhao Farming Technology Co., Examination and 12
Co., Ltd. Ltd. Approval
Liuzhou Xinliu Reply on the EIS of New Hope Liuzhou Bureau of
Farming Rural Revitalization Pig Breeding Administrative
May 6, 2020 L.S.H.C.S.Zi (2020) No. 86
Technology Cycle Project (Phase I) in Liushan Examination and
Co., Ltd. Town, Liunan District Approval
Reply of Chongzuo Ecology and
Ningming
Environment Bureau on the EIS of Chongzuo Ecology
Xinhao
New Hope Liuhe Pig Breeding and Environment Dec. 4, 2019 C.H.S. [2019] No. 29
Farming Co.,
Business Project in Ningming Bureau
Ltd.
County
142
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Reply of Nanning Jiangnan District
Environmental Protection Bureau
on the EIS of the 5,000 mu Modern
Agriculture Industrial Park Poverty
Nanning Nanning Jiangnan
Alleviation Project (19,200 Jan. 4, 2019; Letter
Xinhao District
Breeding Pigs Farm and Supporting of Change on Sept. J.H.P.Zi [2019] No. 1
Farming Co., Environmental
Pig Farm Ecological Breeding 27, 2019
Ltd. Protection Bureau
Project) of Guangxi Nanning
Lvmushan Pig Industry Co., Ltd. in
Jiangxi Town, Jiangnan District,
Nanning
Nanning Xinliu Nanning Bureau of
Reply on the EIS of the 7,500 Sows
Farming Administrative
Farm Project in Xisheng Village, Jun. 1, 2020 N.S.H.J. [2020] No. 60
Technology Examination and
Liangqing District, Nanning
Co., Ltd. Approval
Reply on the EIS of the 40,000
Nanning Ecological Pig Base Project in
Nanning Wuming
Wuming Xinliu Wuming Distrct, Nanning/ Letter
District May 28, 2018; Jan.
Farming on Consent to Change of the Owner N.W.H.J. [2018] No. 34
Environmental 6, 2020
Technology of the EIS of the 40,000 Ecological
Protection Bureau
Co., Ltd. Pig Base Project in Wuming
Distrct, Nanning
Reply on the EIS of the 6,000 Sow Nanning Bureau of
Nanning Xinliu
Farm Project in Nali Village, Administrative
Farming Co., Jun. 13, 2022 N.S.H.J. (2022) No. 45
Datang Town, Liangqing District, Examination and
Ltd.
Nanning Approval
Reply on the EIS of the Eco-cycle
Xiajiang Xinliu Farming community Project of
Ji’an Environmental
Farming Co., Jiangxi Xinwang Agricultural Jan. 22, 2019 J.S.H.P.Zi [2019] No. 14
Protection Bureau
Ltd. Development Co. Ltd. in Geping
Township, Xiajiang County
Reply of Yingtan Ecology and
Environment Bureau on the EIS of
Yingtan Ecology
the Large-scale Fattening Pig Farm
and Environment Dec. 31, 2020 Y.H.H. Zi [2020] No. 128
Project of Yingtan Xinliu
Bureau
Yingtan Xinliu Technology Co., Ltd. in Maquan
Technology Town, Yujiang District
Co., Ltd. Reply of Yingtan Ecology and
Environment Bureau on the EIS of Yingtan Ecology
the 150,000/a Pig Breeding Project and Environment Dec. 16, 2020 Y.H.H. Zi [2020] No. 116
of Yingtan Xinliu Technology Co., Bureau
Ltd.
Reply of Yichun Ecology and
Jiangxi New
Environment Bureau on the EIS of
Hope Liuhe Yichun Ecology and
the 300,000/a Pig Farm
Farming Environment Mar. 12, 2021 Y.H.H.P. [2021] No. 17
Construction Project of Jiangxi
Technology Bureau
New Hope Farming Technology
Co., Ltd.
Co., Ltd.
Reply on the EIS of 6,750/a
Wannian New
Breeding Sows & 150,000/a Pig Shangrao Ecology
Hope Liuhe
(Commercial Pig) and Other and Environment Dec. 31, 2020 R.H.P.Zi [2020] No. 120
Farming Co.,
Breeding Projects of Wannian New Bureau
Ltd.
Hope Liuhe Farming Co., Ltd.
Reply of Anqing Ecology and
Environment Bureau on the EIS of Anqing Ecology
the 72,000 Pigs Fattening Farm and Environment Sept. 22, 2020 Y.H.J.H. [2020] No. 53
Tongcheng Project at Qipanling Village, Bureau
Xinliu Farming Fangang Town, Tongcheng
Technology Reply of Anqing Ecology and
Co., Ltd. Environment Bureau on the EIS of Anqing Ecology
the 300,000/a Pig Farm Project at and Environment Sept. 23, 2020 Y.H.J.H. [2020] No. 54
Xiangshan Village, Xindu Town, Bureau
Tongcheng
Ruyuan Yao Reply on the EIS of the Farm Shaoguan Ecology
Autonomous Construction Project of Ruyuan and Environment Jan. 5, 2021 R.H.S. [2021] No. 2
County Xinhao Yao Autonomous County Xinhao Bureau Ruyuan
143
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Farming Co., Farming Co., Ltd. Branch
Ltd.
Reply of Shaoguan Environmental
Protection Bureau on the EIS of
Longgui Breeding Pig Farm
Guangdong Construction Project of Guangdong
Xinhao Xinhao Zhenghe Farming Co., Ltd./ Shaoguan
Jun. 30, 2017; Sept.
Zhenghe Reply of Shaoguan Environmental Environmental S.H.S. [2017] No. 111
3, 2018
Farming Co., Protection Bureau on the Protection Bureau
Ltd. Application for Changing the
Project Construction Unit of
Guangdong Xinhao Zhenghe
Farming Co., Ltd.
Approval Opinions of Zhaoqing
Zhaoqing
Ecology and Environment Bureau Zhaoqing Ecology
Xinhao
on the EIS of Shidong Jinhua Farm and Environment Apr. 22, 2020 Z.H.J. [2020] No. 12
Farming Co.,
Construction Project of Zhaoqing Bureau
Ltd.
Xinhao Farming Co., Ltd.
Reply of Zhangzhou Longhai
Longhai New Ecology and Environment Bureau Zhangzhou Longhai
Hope Liuhe on the EIS of the Modern Eco-cycle Ecology and
Dec. 10, 2020 L.H. [2020] No. 92
Farming Co., Agricultural Industrial Park Phase I Environment
Ltd. of Longhai New Hope Liuhe Bureau
Farming Co., Ltd.
Review Opinions on the EIS of
Quzhou Yihai Quzhou Ecology
Fine Pig Ecological Breeding Base
Agriculture and Environment Mar. 2020 Q.J.H.J. [2020] No. 7
Project of Zhejiang Yihai
Co., Ltd. Bureau
Agricultural Development Co. Ltd.
Reply on the EIS of Zhejiang
Ningbo New Ningbo Ecology
Ningbo Fenghua Hog Eco-cycle
Hope Liuhe and Environment F.H.J.G.Z.C.N. [2020] No.
Breeding Base Project of Ningbo Jul. 2020
Farming Co., Bureau Fenghua 1
New Hope Liuhe Livestock Co.,
Ltd. Branch
Ltd.
Rui'an New
Comments on the Approval of EIS Wenzhou Ecology
Hope Liuhe
of Rui'an New Hope Modern and Environment Jul. 2020 W.H.R.J. [2020] No. 56
Farming Co.,
Agricultural Industrial Park Bureau
Ltd.
Huzhou
Review Opinions on the EIS of the
Changxing Huzhou Ecology
100,000 Pig Farm Project of
Huatong and Environment Apr. 2021 H.C.H.J. [2021] No. 34
Changxing Huatong Farming Co.,
Farming Co., Bureau
Ltd. in Lincheng Town
Ltd.
Fuping Xinliu Reply on the EIS of the 60,000 Baoding Ecology
Farming Fattening Pig Breeding Project of and Environment
Oct. 15, 2020 F.H.S. (2020) No. 5
Technology Fuping County Xinqiang Livestock Bureau Fuping
Co., Ltd. Co., Ltd. County Branch
Zhangjiakou Comments on the Approval of the Zhangjiakou Bureau
Xinwang EIS of the 300,000 Hogs Cluster of Administrative
Sept. 6, 2018 Z.X.S.S. [2018] No. 189
Farming Co., Development Project in Yangyuan Examination and
Ltd. County Approval
Reply on the EIS of the 12,000/a
Nurturing and Fattening Farm Gucheng County
Project of Hebei Xinhao Fucheng Environmental Jun. 26, 2019 G.H.P. [2019] No. 003
Agricultural Technology Co., Ltd. Protection Bureau
in Xindi
Reply on the EIS of the 24,000/a
Hebei Xinhao
Nurturing and Fattening Farm Gucheng County
Fucheng
Project of Hebei Xinhao Fucheng Environmental Jun. 26, 2019 G.H.P. [2019] No. 002
Agricultural
Agricultural Technology Co., Ltd. Protection Bureau
Technology
in Pipotun
Co., Ltd.
EIS of Qianhuayuan Grandparental
Gucheng County
Pig Farm Project of Hebei Xinhao
Environmental Nov. 2017 G.H.P. [2017] No. 022
Fucheng Agricultural Technology
Protection Bureau
Co., Ltd.
EIS of the 6,000/a Houhuayuan Gucheng County
Dec. 2017 G.H.P. [2017] No. 037
Parental Pig Farm Project of Hebei Environmental
144
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Xinhao Fucheng Agricultural Protection Bureau
Technology Co., Ltd.
EIS of the 6,000/a Yangwutou
Gucheng County
Parental Pig Farm Project of Hebei
Environmental Jan. 31, 2018 G.H.P. [2018] No. 001
Xinhao Fucheng Agricultural
Protection Bureau
Technology Co., Ltd.
Raoyang
Raoyang County
Xinhao Reply on the EIS of the 7,500/a
Environmental Dec. 11, 2018 R.H.P. [2019] No. 6
Farming Co., Dongliuzhuang Sow Farm Project
Protection Bureau
Ltd.
Jing County Reply on the EIS of the 7,500/a Jing County Bureau
Xinhao Xizhiyao Breeding Pig Farm of Administrative
Jun. 5, 2018 J.H.P. [2018] No. 36
Farming Co., Project of Hebei Xinhao Fucheng Examination and
Ltd. Agricultural Technology Co., Ltd. Approval
Disclosure Commitment Decision Tianjin Binhai New
Tianjin Xinliu
of the EIS of the 216,000 Pigs Area Bureau of
Farming J.B.S.P.E.S.Z. [2021] No.
Fattening Project in Nanheshun, Administrative Jan. 29, 2021
Technology 28
Xiaowangzhuang Town, Binhai Examination and
Co., Ltd.
New Area, Tianjin Approval
Tianjin New Disclosure Commitment Decision Tianjin Binhai New
Hope Liuhe of the EIS of the 13,500 Sows Area Bureau of
J.B.S.P.E.S.Z. [2021] No.
Farming Breeding Project in Hongxing Administrative Apr. 20, 2021
127
Technology Village, Taiping Town, Binhai New Examination and
Co., Ltd. Area, Tianjin Approval
Beijing Pinggu
Beijing Xinliu
Reply on the EIS of New Hope District Ecology
Farming Co., Dec. 7, 2020 J.P.H.S. [2020] No. 43
Beijing Intelligent Pig Farm Project and Environment
Ltd.
Bureau
Reply on the EIS of the 180,000
Dongying
Commercial Pigs Project of
Environmental
Dongying Xinhao Modern Farming Jun. 24, 2020 D.H.D.F.S. [2020] No. 4
Dongying Protection Bureau
Co., Ltd. in Niuzhuang Town,
Xinhao Modern Dongying Branch
Dongying District
Farming Co.,
Reply on the EIS of the Phase II Dongying
Ltd.
Farm of Dongying Xinhao Modern Environmental
Jun. 24, 2020 D.H.D.F.S. [2020] No. 2
Farming Co., Ltd. in Longju Town, Protection Bureau
Dongying District Dongying Branch
Reply of Dezhou Environmental
Protection Bureau on the EIS of the
340,000/a Commercial Pigs Dezhou
Integrated Core Pig Breeding Environmental Dec. 9, 2013 D.H.B.Zi [2013] No. 205
Project of Dezhou New Hope Liuhe Protection Bureau
Farming Co., Ltd. in Xiajin County,
Dezhou
Acceptance Opinions on
Xiajin New Environmental Protection upon
Hope Liuhe Completion of Solid Waste
Farming Co., Pollution Control Facilities of the Xiajin County
Ltd. 340,000/a Commercial Pigs Environmental Apr. 15, 2019 X.H.Y. [2019] No. 27
Integrated Core Pig Breeding Protection Bureau
Project of Dezhou New Hope Liuhe
Farming Co., Ltd. in Xiajin County,
Dezhou
Reply on the EIS of the
Xiajin County
Commercial Pig Breeding Project
Environmental Aug. 27, 2019 X.H.B.G.S. [2019] No. 3
Phase III of Xiajin New Hope
Protection Bureau
Liuhe Farming Co., Ltd.
Reply of Dezhou Environmental
Dezhou
Protection Bureau on the EIS of the
Environmental May 27, 2015 D.H.B.Zi [2015] No. 139
Nurturing Farm Project of Xiajin
Xiajin New Protection Bureau
New Hope Liuhe Farming Co., Ltd.
Hope Liuhe
Acceptance Opinions on
Breeding Co.,
Environmental Protection upon Xiajin County
Ltd.
Completion of Solid Waste Environmental Apr. 15, 2019 X.H.Y. [2019] No. 28
Pollution Control Facilities of the Protection Bureau
Nurturing Farm Project of Xiajin
145
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
New Hope Liuhe Farming Co., Ltd.
Liaocheng Reply on the EIS of the 500,000/a
Yanggu County
Xinhao Fattening Farm Construction
Environmental Dec. 5, 2017 Y.H.S. [2017] No. 287
Farming Co., Project in Yanggu County,
Protection Bureau
Ltd. Shandong
Reply on the EIS of the New Hope
Dong’e County
Liuhe Swine Breeding Construction
Environmental May 8, 2018 D.H.S. [2018] No. 4
Project of Dong’e New Hope Liuhe
Protection Bureau
Swine Breeding Co., Ltd.
Reply on the EIS Disclosure
Dong’e New Commitment of Commercial Pig Dong’e County
D.X.S.B.G.S. [2020] No.
Hope Liuhe Farm 1 Project of Dong’e County Environmental Nov. 3, 2020
36
Swine Breeding New Hope Liuhe Swine Breeding Protection Bureau
Co., Ltd. Co., Ltd.
Reply on the EIS Disclosure
Commitment of Commercial Pig Dong’e County
D.X.S.B.G.S. [2020] No.
Farm 2 Project of Dong’e County Environmental Dec. 4, 2020
47
New Hope Liuhe Swine Breeding Protection Bureau
Co., Ltd.
Yucheng New Reply on the EIS of the 6,000 Pigs
Yucheng
Hope Liuhe Standardized Farm Project of
Environmental Oct. 31, 2018 Y.H.B.G.S. [2018] No. 6
Swine Breeding Yucheng New Hope Liuhe Swine
Protection Bureau
Co., Ltd. Breeding Co., Ltd.
Reply on the EIS of Piglet Breeding Linyi County
Construction Project of Linyi Liuhe Environmental Mar. 25, 2008 L.H.B.G.B. [2008] No. 5
Food Co., Ltd. Protection Bureau
Linyi Liuhe Reply on the Environmental
Breeding Pig Protection Acceptance upon
Linyi County
Co., Ltd. Completion of the Breeding Pig
Environmental Nov. 24, 2010 L.H.Y. [2010] No. 24
Farm Construction and Boiler
Protection Bureau
Project of Linyi Liuhe Breeding Pig
Co., Ltd.
Reply on the EIS of the Breeding Gaotang County
Pig Farm Project of Gaotang Environmental Sept. 27, 2017 G.H.S. [2017] No. 5
Gaotang
County Xinhao Farming Co., Ltd. Protection Bureau
County Xinhao
Reply on the EIS of the 200,000/a
Farming Co., Gaotang County
Commercial Pigs Project of
Ltd. Environmental Dec. 20, 2019 G.H.S. [2019] No. 7
Gaotang County Xinhao Farming
Protection Bureau
Co., Ltd.
Reply on the EIS of the 9,000
Jiaxiang County
Swines Breeding Project of
Environmental Apr. 2017 J.H.S. (2017) No. 4
Jiaxiang County New Hope Liuhe
Protection Bureau
Swine Breeding Co., Ltd.
Jiaxiang Xinliu
Reply on the Envrionmental
Swine Breeding
Protection Acceptance upon
Co., Ltd. Jiaxiang County
Completion of the 9,000 Swines J.H.Y. (Jiaxiang) (2019)
Environmental Dec. 30, 2019
Breeding Project of Jiaxiang No. 84
Protection Bureau
County New Hope Liuhe Swine
Breeding Co., Ltd.
Shandong
Reply on the EIS of the Feicheng
Liuhe Yinbao
Construction Project of Shandong Environmental Aug. 9, 2006 /
Breeding Co.,
Liuhe Yinbao Breeding Co., Ltd. Protection Bureau
Ltd.
Juye Xinhao 400,000/a Hogs Breeding and Juye County
Farming Co., Farming Ecocycle Agricultural Environmental Jun. 2020 J.X.S. (2020) H.B. No. 051
Ltd. Construction Project Protection Bureau
Reply on the EIS of the 100,000/a Shandong Heze
Heze Xinhao
Commercial Pigs Project of Heze Dingtao District
Farming Co., Dec. 27, 2018 D.H.B.G.S. (2018) No. 6
Xinhao Farming Co., Ltd. at Environmental
Ltd.
Liangtang Protection Bureau
Reply on the EIS of the 350,000/a
Cao County
Cao County Hogs Breeding Project of Heze
Environmental Apr. 20, 2019 C.H.S. (2019) No. 1
Xinhao Xinhao Farming Co., Ltd. at
Protection Bureau
Farming Co., Liangditou Town
Ltd. Reply on the EIA Standards for the Cao County
Mar. 7, 2019 C.H.H. (2019) No. 1
350,000/a Hogs Breeding Project of Environmental
146
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Heze Xinhao Farming Co., Ltd. at Protection Bureau
Liangditou Town
Shan County EIS of the 200,000/a Hogs
Shan County
Xinhao Breeding + Planting Ecocycle
Environmental Jun. 2020 S.X.S.T. [2020] No. 164
Farming Co., Agriculture Project of Shan County
Protection Bureau
Ltd. Xinhao Farming Co., Ltd.
Changyi Reply on the EIS of the 250,000/a Weifang Ecology
Xinhao Commercial Piglets Project of and Environment
Jun. 27, 2019 C.H.S.S. (2019) No. 4
Livestock Co., Changyi Xinhao Livestock Co., Bureau Changyi
Ltd. Ltd. Branch
Environmental Protection
Zhucheng
Acceptance Report of the 300,000/a Zhucheng
Xinliu Farming Z.H.S.B.G.S. [2020] No.
Hogs Breeding Project of Zhucheng Environmental Oct. 19, 2020
Technology 15
Xinliu Farming Technology Co., Protection Bureau
Co., Ltd.
Ltd.
Reply on the EIS Disclosure
Commitment of the Breeding and Wulian County
Wulian Xinhao
Farming Integrated Efficient Bureau of
Farming Co., Jun. 18, 2020 L.S.P. [2020] No. 180
Ecological Demonstration Park Administrative
Ltd.
Project of Wulian Xinhao Farming Services
Co., Ltd.
Comments on EIA Disclosure
Commitment Approval of the Sow Qingdao Ecology
and Fattening Farm Project of Laixi and Environment
Oct. 14, 2020 X.H.C.N.S. (2020) No. 49
New Hope Liuhe Farming Co., Ltd. Bureau Laixi
Laixi New in Xixiagezhuang Village, Branch
Hope Liuhe Xiagezhuang Town
Farming Co., Comments on EIA Disclosure
Ltd. Commitment Approval of the Sow Qingdao Ecology
and Fattening Farm Project (Phase and Environment
Feb. 5, 2021 X.H.C.N.S. (2021) No. 4
I) of Laixi New Hope Liuhe Bureau Laixi
Farming Co., Ltd. in Cuijiazhuang Branch
Village, Xiagezhuang Town
Reply on the EIS of the 300,000/a
Laiyang Xinhao Laiyang
Hogs Breeding Project of Laiyang
Livestock Co., Environmental Aug. 4, 2017 L.H.F. [2017] No. 86
Xinhao Livestock Co., Ltd. in
Ltd. Protection Bureau
Dakuang Down
Reply on the EIS of the Hogs
Laiyang
Breeding Base Construction Project
Environmental May 25, 2015 L.H.F. [2015] No. 32
of Yantai Fuzu Livestock Breeding
Protection Bureau
Laiyang Xinmu Co., Ltd. No. 2 Branch
Breeding Co., Reply on the Application of EIA
Yantai Ecology and
Ltd. Procedure of Yantai Fuzu Livestock
Environment
Breeding Co., Ltd. No. 1/2/3/5/6 Nov. 11, 2019 L.H.P.H. [2019] No. 17
Bureau Laiyang
Branch to Laiyang Xinmu Breeding
Branch
Co., Ltd.
Reply on the EIS Disclosure Yantai Ecology and
Commitment of the Breeding Pig Environment
Sept. 29, 2020 M.H.C.N.S. [2020] No. 16
Farm Project of Yantai Xinhao Bureau Muping
Yantai Xinhao
Farming Co., Ltd. Branch
Farming Co.,
Reply on the EIS Disclosure Yantai Ecology and
Ltd.
Commitment of the In-house Pig Environment
Sept. 29, 2020 M.H.C.N.S. [2020] No. 15
Fattening Breeding Base Project of Bureau Muping
Yantai Xinhao Farming Co., Ltd. Branch
Reply on the EIS Disclosure
Commitment of the 13,500/a
Storied Building Sows Breeding Laizhou
and Farming Integrated Project of Environmental Nov. 2, 2020 L.H.S. [2020] No. 170
Laizhou New Laizhou New Hope Liuhe Farming Protection Bureau
Hope Liuhe Co., Ltd. in Nanxiang Village,
Farming Co., Chengguo Town, Laizhou
Ltd. Environmental Protection
Shandong
Acceptance Report for the
Hengcheng Testing
Completion of the 13,500/a Storied Nov. 2, 2020 L.H.S. [2020] No. 170
Technology Co.,
Building Sows Breeding and
Ltd.
Farming Integrated Project in
147
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Nanxiang Village, Chengguo Town,
Laizhou
Environmental Protection
Acceptance Monitoring Report for Yantai Ecology and
Laizhou Xinhao
the Completion of the 72,000/a Environment
Livestock Co., Feb. 2021 L.H.S. [2019] No. 92
Hogs Fattening Farm Construction Bureau Laizhou
Ltd.
Project in Laizhou of Laizhou Branch
Xinhao Livestock Co., Ltd.
Zhaoyuan Reply on the EIS Disclosure Yantai Ecology and
Xinmu Commitment of the 36,000/a Environment
Mar. 29, 2021 Z.H.C.N.S. [2021] No. 3
Breeding Co., Fattening Project of Zhaoyuan Bureau Zhaoyuan
Ltd. Xinmu Breeding Co., Ltd. Branch
Comments of the Municipal Bureau
of Administrative Examination and Rugao Bureau of
Rugao Xinhao
Approval on Change of the Subject Administrative
Farming Co., Nov. 15, 2016 G.H.F. [2014] No. 80
and Adjustment of Some Items of Examination and
Ltd.
Rugao Kanghua Livestock Approval
Technology Co., Ltd.
Yancheng Dafeng
Yancheng Approval Opinions on the EIS of
District Bureau of
Zhongtai the Hog Farming Project (Silkworm
Administrative Feb. 2, 2019 D.X.S.H.S. (2019) No. 1
Livestock Co., Seed Farm) of Yancheng Zhongtai
Examination and
Ltd. Livestock Co., Ltd.
Approval
Pizhou New Reply on the EIS of the Hot Xuzhou Ecology
Hope Farming Farming Project of Pizhou New and Environment Feb. 1, 2021 X.P.H.X.S. [2021] No. 001
Co., Ltd. Hope Liuhe Farming Co., Ltd. Bureau
Nanjing Xinmu Reply on the EIS of the 60,000/a Nanjing Ecology
Farming Co., Hogs Business Project of Nanjing and Environment Jul. 31, 2020 N.H.J.G. (2020) No. 1801
Ltd. Xinmu Farming Co., Ltd. Bureau
Reply on the EIS of the 150,000/a
Zhenjiang New Zhenjiang Ecology
Hogs Standardized Farming Project
Hope Farming and Environment Aug. 13, 2020 Z.H.S. (2020) No. 68
of Zhenjiang New Hope Liuhe
Co., Ltd. Bureau
Farming Co., Ltd.
Reply on the EIS of the 72,000/a Huanbei Ecology
Pigs Project of Suixi County and Environment Jun. 18, 2020 H.H.X. [2020] No. 12
Xinhao Farming Co., Ltd. Bureau
Reply on the EIS of the 24,000 Pigs
Fattening Farm Project of Wuhe Bengbu Ecology
New Hope Liuhe Livestock Co., and Environment Jun. 1, 2020 W.H.X. [2020] No. 23
Ltd. in Dongxiaoliu Village, Bureau
Shuangzhongmiao Town
Reply on the EIS of the 24,000 Pigs
Fattening Farm Project of Wuhe Bengbu Ecology
New Hope Liuhe Livestock Co., and Environment Jun. 1, 2020 W.H.X. [2020] No. 22
Ltd. in Qiaozhang Village, Shenji Bureau
Town
Reply on the EIS of the13,500
Sows and 72,000 Pigs Fattening
Wuhe New Bengbu Ecology
Farm Project of Wuhe New Hope
Hope Liuhe and Environment Sept. 22, 2020 W.H.X. [2020] No. 39
Liuhe Livestock Co., Ltd. at
Livestock Co., Bureau
Changhuan Garden, Chengguan
Ltd.
Town
Reply on the EIS of the 60,000 Pigs
Fattening Farm Project of Wuhe Bengbu Ecology
New Hope Liuhe Livestock Co., and Environment Jun. 10, 2020 W.H.X. [2020] No. 25
Ltd. in Dengxuzi Village, Bureau
Shuangzhongmiao Town
Reply on the EIS of the 13,500
Bengbu Ecology
Sows Farm Project of Wuhe New
and Environment Jul. 23, 2020 W.H.X. [2020] No. 32
Hope Liuhe Livestock Co., Ltd. in
Bureau
Huojia Village, Xiaoxi Town
Reply on the EIS of the 36,000 Pigs
Bengbu Ecology
Fattening Farm Project of Wuhe
and Environment Dec. 2, 2020 W.H.X. [2020] No. 51
New Hope Liuhe Livestock Co.,
Bureau
Ltd. in Guotai Village, Daxin Town
Reply on the EIS of the 48,000 Pigs Bengbu Ecology Jun. 1, 2020 W.H.X. [2020] No. 24
148
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Fattening Farm Project of Wuhe and Environment
New Hope Liuhe Livestock Co., Bureau
Ltd. in Zhuyu Village, Wuqiao
Town
Reply on the EIS of the 13,500
Bengbu Ecology
Sows Farm Project of Wuhe New
and Environment May 26, 2021 W.H.X. [2021] No. 18
Hope Liuhe Livestock Co., Ltd. in
Bureau
Tuohe Village, Dongliuji Town
Reply on the EIS of the 13,500
Sows and 24,000 Pigs Fattening Bengbu Ecology
Farm Project of Wuhe New Hope and Environment Sept. 28, 2020 W.H.X. [2020] No. 40
Liuhe Livestock Co., Ltd. in Jiangji Bureau
Village, Wuqiao Town
Reply of Qiandongnan Prefecture
Environmental Protection Bureau
on the EIS of the 6,000 Two-way Qiandongnan
Cross-bred Sows and Piglets Farm Prefecture
Oct. 23, 2020 Q.D.N.H.S. [2018] No. 11
Construction Project of Guizhou Environmental
Shibing County Precision Poverty Protection Bureau
Alleviation “Enterprises + Farmers”
Program
Reply of Qiandongnan Prefecture
Shibing County Ecology and Environment Bureau
New Hope on the EIS of the “Enterprises + Qiandongnan
Liuhe Breeding Farmers” Sows and Piglets Farm Prefecture Ecology
Feb. 21, 2020 Q.D.N.H.G.S. [2020] No. 1
Co., Ltd. Construction Project in Shuangjing and Environment
Town, Shibing County, Bureau
Qiandongnan Prefecture, Guizhou
Province
Reply of Qiandongnan Prefecture
Ecology and Environment Bureau Qiandongnan
on the EIS of the Commercial Pig Prefecture Ecology Q.D.N.H.G.S. [2020] No.
Apr. 29, 2020
Fattening “Precision Poverty and Environment 45
Alleviation” Project in Niudachang Bureau
Town, Shibing County
Zhenyuan Reply of Qiandongnan Prefecture
Qiandongnan
Xinmu Ecology and Environment Bureau
Prefecture Ecology Q.D.N.H.G.S. (2020) No.
Agricultural on the EIS of the Xinmu Oct. 21, 2020
and Environment 36
Development Standardized Hog Farming Project
Bureau
Co., Ltd. in Zhenyuan County
Reply of Bijie Ecology and
Bijie Xinliu Bijie Ecology and
Environment Bureau on the EIS of
Farming Co., Environment Jul. 28, 2020 B.H.F. [2020] No. 6
the 200,000 Hogs Breeding Project
Ltd. Bureau
in Qixingguan District
Reply of Qianxinan Prefecture
Xingren Xinliu Qianxinan
Ecology and Environment Bureau
Farming Prefecture Ecology
on the EIS of the Swine Breeding Jul. 28, 2020 Z.H.S. (2020) No. 17
Technology and Environment
Base Construction Project in
Co., Ltd. Bureau
Panjiazhuang Town, Xingren City
Reply of Liupanshui Ecology and
Panzhou Xinliu
Environment Bureau on the EIS of Liupanshui Ecology
Farming
the Pig Fattening Project in and Environment Jul. 28, 2020 L.P.S.H.S. [2020] No. 39
Development
Luojiatian Village, Panzhou, Bureau
Co., Ltd.
Guizhou
Reply of Anshun Ecology and
Environment Bureau on the EIS of
Anshun Ecology
Xinmu Standardized Pig Breeding
and Environment Jan. 20, 2020 A.H.S.P.F. [2020] No. 15
(Yongning Town Kangzhai
Bureau
Guanling 750GP+6000PS) Project in
Xinmu Guanling County
Breeding Co., Reply of Anshun Ecology and
Ltd. Environment Bureau on the EIS of Anshun Ecology
the 18,000 Fattening Farm Project and Environment Jan. 8, 2020 A.H.S.P.F. [2020] No. 14
in Xinzhai Village, Puli Township, Bureau
Guanling County
Reply of Anshun Ecology and Anshun Ecology Apr. 20, 2020 A.H.S.P.F. [2020] No. 16
149
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Environment Bureau on the EIS of and Environment
the 18,000 Fattening Farm Project Bureau
in Yongmu Village, Huajiang
Town, Guanling County
Reply of Jiuquan Ecology and
Gansu Xinliu Environment Bureau Yumen Jiuquan Ecology
Farming Branch on the EIS of the 300,000/a and Environment
Apr. 20, 2020 Y.H.F. [2020] No. 3
Technology Hogs Breeding and Farming Bureau Yumen
Co., Ltd. Integrated Project of Gansu Xinliu Branch
Farming Technology Co., Ltd.
X.H.C.N.F. [2020] No. 1 Reply on Lanzhou New
the EIS of the New 700,000/a Hogs District Ecology
Jan. 3, 2018 X.H.C.N.F. [2020] No. 1
Project in Xicha Town, Lanzhou and Environment
New District Bureau
Gansu New Lanzhou New
X.H.C.N.F. [2020] No. 10 Reply
Hope Liuhe District Ecology
on the EIS of Gansu New Hope May 12, 2020 X.H.C.N.F. [2020] No. 10
Farming Co., and Environment
Farm 1 in Pingxian Village
Ltd. Bureau
Lanzhou New
X.H.C.N.F. [2020] No. 11 Reply
District Ecology
on the EIS of Gansu New Hope Jan. 3, 2020 X.H.C.N.F. [2020] No. 11
and Environment
Farm 12 in Pingxian Village
Bureau
Anyang Xinliu Anyang
Reply on the EIS of Anyang Xinliu
Technology Environmental Dec. 4, 2018 A.H.R.S. [2017] No. 4
Technology Co., Ltd.
Co., Ltd. Protection Bureau
Reply on the EIS Disclosure
Qingfeng
Commitment Approval Application Puyang Ecology
Xinliu Farming
of the 13,500/a Breeding Pigs and Environment Jul. 3, 2020 P.H.S. (2020) No. 23
Technology
Feeding Project of Qingfeng Xinliu Bureau
Co., Ltd.
Farming Technology Co., Ltd.
Taiqian Xinliu Reply on the EIS of the 13,500
Puyang Ecology
Farming Sows Farm Project of Taiqian
and Environment Jul. 3, 2020 P.H.S. [2020] No. 1
Technology Xinliu Farming Technology Co.,
Bureau
Co., Ltd. Ltd.
Approval Opinions on the EIS of
Lingbao Xinliu the 150,000/a Piglets Breeding and Lingbao
Farming Co., Farming Integrated Eco-industrial Environmental Oct. 12, 2020 L.H.S. [2018] No. 66
Ltd. Park Project of Lingbao Xinliu Protection Bureau
Farming Co., Ltd.
Reply on the EIS Disclosure
Commitment Approval Application Puyang Ecology
of the 100,000/a Hogs Breeding and Environment May 7, 2020 P.H.S. (2020) No. 32
Puyang Xinliu Project of Puyang Xinliu Farming Bureau
Farming Technology Co., Ltd.
Technology Reply on the EIS Disclosure
Co., Ltd. Commitment Approval Application Puyang Ecology
of the 200,000/a Hogs Breeding and Environment Sept. 14, 2020 P.H.S. (2020) No. 31
Project of Puyang Xinliu Farming Bureau
Technology Co., Ltd.
Reply on the EIS Disclosure
Commitment Approval Application
Ruzhou
of the 72,000/a Pigs Farm
Environmental Sept. 27, 2017 R.H.S.P. [2020] No. 18
Construction Project of Ruzhou
Protection Bureau
Quansheng Farming Technology
Co., Ltd.
Ruzhou Reply on the EIS Disclosure
Quansheng Commitment Approval Application
Ruzhou
Farming of the 13,500/a Swines Farm
Environmental Dec. 24, 2019 R.H.S.P. [2020] No. 8
Technology Construction Project of Ruzhou
Protection Bureau
Co., Ltd. Quansheng Farming Technology
Co., Ltd.
Reply on the EIS Disclosure
Commitment Approval Application Ruzhou
of the 48,000/a Pigs Farm Environmental Dec. 24, 2019 R.H.S.P. [2020] No. 15
Construction Project of Ruzhou Protection Bureau
Quansheng Farming Technology
150
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Co., Ltd.
Reply on the Application for
Environmental Protection
Acceptance upon Completion of the Zhengzhou
50,000/a Hogs Breeding Base Environmental Apr. 24, 2020 Z.H.Y. [2017] No. 60
Construction Project of Zhengzhou Protection Bureau
Quansheng Farming Technology
Co., Ltd.
Reply on the EIS of the Hog
Xiangyang Ecology
Breeding Project of Hubei Xinhao
and Environment Dec. 24, 2019 X.H.S.P. [2019] No. 26
Farming Co., Ltd. in Guling
Bureau
Hubei Xinhao Village, Wangcheng Town
Farming Co., Reply on the EIS of the Hog
Ltd. Breeding Project of Hubei Xinhao Xiangyang Ecology
Farming Co., Ltd. in Luohan and Environment Nov. 12, 2020 X.H.S.P. [2019] No. 27
Village and Luosigang Village, Bureau
Wangcheng Town
Yincheng Reply of Xiaogan Ecology and
Xiaogan Ecology
Xinhao Environment Bureau on the EIS of
and Environment Jan. 7, 2021 X.H.H. [2020] No. 27
Farming Co., the Hog Breeding Project in
Bureau
Ltd. Xuzhou Village, Sanhe Town
Reply on the EIS of the Hog
Xiangyang
Breeding Project of Xiangyang Xiangyang Ecology
Xinhao
Xinhao Farming Co., Ltd. in and Environment Apr. 18, 2017 X.H.S.P. [2019] No. 28
Farming Co.,
Taipingdian Town, Fancheng Bureau
Ltd.
District
Reply on the EIS of the
750GP+6000PS Pig Farm Project in
Guang’an United Village, Longnv Town,
Xinhao Wusheng County, Guang’an, Guang’an Ecology
G.H.C.S. [2020] No. 10
Farming Co., Sichuan and Environment Mar. 19, 2021
G.H.C.S. [2020] No. 11
Ltd. Longnv Reply on the EIS of the 48,000 Pigs Bureau
Pig farm Fattening Farm Project in United
Village, Longnv Town, Wusheng
County, Guang’an, Sichuan
Guang’an Reply of Guang’an Ecology and
Xinhao Environment Bureau on the EIS of
Guang’an Ecology
Farming Co., the 21,000 Pigs Fattening Farm
and Environment Aug. 5, 2019 G.H.C.S. [2021] No. 3
Ltd. Project in Xiuguanyin Village, Xixi
Bureau
Xiuguanyin Pig Town, Yuechi County, Guang’an,
Farm Sichuan Province
Yanting Xinhao Reply on the EIS of the 12,000
Mianyang
Farming Co., Swines Farm of Yanting Xinhao
Environmental Jun. 25, 2021 M.H.S.P. [2017] No. 107
Ltd. Jianhe Pig Farming Co., Ltd. in Jianhe
Protection Bureau
Farm Township
Yanting Xinhao Reply on the EIS of the Large-scale
Mianyang Ecology
Farming Co., Swine Farm Construction Project of M.H.C.N.S.P. [2021] No.
and Environment Apr. 25, 2021
Ltd. Yurong Yanting Xinhao Farming Co., Ltd. 18
Bureau
Pig Farm Yurong Pig Farm
Guangyuan
Xinhao Reply on the EIS of the 500,000/a Guangyuan Ecology
Farming Co., High-quality Pig Breeding Cycle and Environment May 21, 2018 G.H.S. [2019] No. 26
Ltd. Shanxi Pig Base Construction Project Phase I Bureau
Farm
Langzhong
Xinliu Farming Reply on the EIS of the 6,750/a
Nanchong Ecology
Technology Swine Breeding Project in Deyang
and Environment Sept. 7, 2010 N.S.H.S. [2021] No. 19
Co., Ltd. Village, Hongshan Town,
Bureau
Deyang Village Langzhong City
Pig Farm
Qianwei
Approval Opinions on the EIS of
Xinhao Leshan Ecology and
Longhua Fattening Project of L.S.H.S. [2021] No. 15
Farming Co., Environment Jan. 20, 2010
Qianwei Xinhao Farming Co., Ltd. (Disclosure Commitment)
Ltd. Longhua Bureau
(Disclosure Commitment)
Pig Farm
Leshan New Approval Opinions on the EIS of Leshan Jul. 16, 2014 L.S.H.S. [2018] No. 31
151
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Hope Farming Jinfeng Breeding Pig Farm of Environmental
Co., Ltd. Leshan New Hope Farming Co., Protection Bureau
Jinfeng Pig Ltd. in Jingyan County
Farm
Leshan New
Approval Opinions on the EIS of
Hope Farming Jingya County
the New Fenquan Breeding Pig
Co., Ltd. Environmental Jan. 20, 2015 J.H.F. [2010] No. 97
Farm Project of Leshan New Hope
Quansheng Pig Protection Bureau
Farming Co., Ltd.
farm
Santai New
Approval Opinions on the EIS of
Hope Farming
the High-quality Hog Propagation Santai County
Technology
and Farm Construction Project of Environmental Jan. 20, 2015 S.H.B. [2010] No. 14
Co., Ltd.
Santai New Hope Farming Protection Bureau
Yongming Pig
Technology Co., Ltd.
Farm
Santai New
Reply on the EIS of the Parental Pig
Hope Farming
Farm Construction Project (in Santai County
Technology
Qingquan Village, Shi’an Town) of Environmental Oct. 31, 2006 S.H.B. [2014] No. 75
Co., Ltd.
Santai New Hope Farming Protection Bureau
Qingquan Pig
Technology Co., Ltd.
Farm
Santai New Reply of Santai County
Hope Farming Environmental Protection Bureau
Santai County
Technology on the EIS of New Hope Shi’an
Environmental Jan. 20, 2015 S.H.B. [2015] No. 10
Co., Ltd. Meihua Pig Fattening Farm Project
Protection Bureau
Meihua Pig of Santai Xinhaixin Farming Co.,
Farm Ltd.
Santai New Reply of Santai County
Hope Farming Environmental Protection Bureau
Santai County
Technology on the EIS of New Hope Dongta
Environmental Jan. 20, 2015 S.H.B. [2015] No. 9
Co., Ltd. Sanwan Pig Fattening Farm Project
Protection Bureau
Sanwan Pig of Santai Xinhaixin Farming Co.,
Farm Ltd.
Santai New
Reply of Mianyang Environmental
Hope Farming
Protection Bureau on the EIS of the Mianyang
Technology
Prime Breeding Pig Farm of Environmental Sept. 10, 2009 M.H.H. [2006] No. 247
Co., Ltd.
Sichuan South Hope Industrial Co., Protection Bureau
Xiping Pig
Ltd.
Farm
Santai New Reply of Santai County
Hope Farming Environmental Protection Bureau
Santai County
Technology on the EIS of New Hope Jinshi
Environmental Nov. 10, 2020 S.H.B. [2015] No. 16
Co., Ltd. Tongzi Pig Fattening Farm Project
Protection Bureau
Tongzi Pig of Mianyang New Hope Livestock
Farm Breeding Co., Ltd.
Santai New Reply of Santai County
Hope Farming Environmental Protection Bureau
Santai County
Technology on the EIS of New Hope Jinshi
Environmental Nov. 12, 2018 S.H.B. [2015] No. 15
Co., Ltd. Shizhu Pig Fattening Farm Project
Protection Bureau
Shizhu Pig of Mianyang New Hope Livestock
Farm Breeding Co., Ltd.
Chongqing
New Hope Pig
Source Reply on Enviroment Protection for Rongchang County
Development Pilot Production of Construction Environmental Apr. 21, 2017 Y. (R.) H.S. [2009] No. 26
Co., Ltd. Project Protection Bureau
Rongchang Pig
Farm
Reply of Weinan Ecology and
Pucheng Xinliu
Environment Bureau Pucheng Weinan Ecology
Technology
Branch on the EIS of Jingmusi Hog and Environment
Co., Ltd. Apr. 9, 2019 P.H.H. [2020] No. 276
Breeding Project of Pucheng Xinliu Bureau Pucheng
Pucheng Pig
Technology Co., Ltd. in Chunlin Branch
Farm
Town
Heyang Reply of Heyang County Heyang County
Jul. 28, 2020 H.H.P.F. [2018] No. 21
Zhenghe Environmental Protection Bureau Environmental
152
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Modern on the EIS of the 50,000/a High- Protection Bureau
Farming Co., quality Commercial Pig Breeding
Ltd. Heyang Demonstration Base Project
Pig Farm
Weinan
Zhengneng
Reply of Heyang County
Farming Heyang County
Environmental Protection Bureau
Technology Environmental Nov. 26, 2020 H.H.G.Zi [2017] No. 15
on the EIA Standards for the 12,000
Co., Ltd. Protection Bureau
Sows Farm Construction Project
Heyang Xinliu
Pig Farm
Weinan Xinliu Reply of Weinan Environmental
Technology Protection Bureau on the EIS of Weinan
Co., Ltd. Hog Breeding Project of Tibet Environmental Apr. 9, 2019 W.H.P.F. [2019] No. 33
Lindian Pig Xinhao Technology Co., Ltd. Protection Bureau
Farm Weinan Branch in Lindian Town
Reply of Weinan Ecology and
Weinan Xinliu Environment Bureau Linwei
Weinan Ecology
Technology Branch on the EIS Disclosure
and Environment
Co., Ltd. Commitment Approval Application Aug. 2, 2018 W.H.L.F. [2020] No. 172
Bureau Linwei
Sangao Pig of the Hog Breeding Project of
Branch
Farm Weinan Xinliu Technology Co.,
Ltd. in Sangao Village, Gushi Town
Reply of Weinan Ecology and
Environment Bureau Linwei
Weinan Xinliu
Branch on the EIS Disclosure Weinan Ecology
Technology
Commitment Approval Application and Environment
Co., Ltd. Dec. 29, 2016 W.H.L.F. [2020] No. 301
of the Hog Breeding Project of Bureau Linwei
Ganquan Pig
Weinan Xinliu Technology Co., Branch
Farm
Ltd. in Ganquan Village, Gushi
Town
Reply of Weinan Environmental
Weinan Xinliu
Protection Bureau on the EIS of the Weinan
Technology
Hog Breeding Project of Tibet Environmental Dec. 22, 2020 W.H.P.F. [2019] No. 34
Co., Ltd. Gushi
Xinhao Technology Co., Ltd. Protection Bureau
Pig Farm
Weinan Branch in Gushi Town
Reply of Luochuan County
Environmental Protection Bureau
on the EIS of Huangzhang Luochuan County
Ecological Pig Breeding Base Environmental Dec. 22, 2020 L.H.H. [2018] No. 81
Project of Yan’an Benyuan Protection Bureau
Yan’an
Agricultural Technology
Benyuan
Development Co., Ltd.
Agricultural
Comments of Luochuan County
Technology
Environmental Protection Bureau
Development
on the EIS Filing for Current Status
Co., Ltd. Luochuan County
of the Ecological Pig Breeding
Environmental Dec. 26, 2018 L.H.H. [2016] No. 104
Project of Yan’an Benyuan
Protection Bureau
Agricultural Technology
Development Co., Ltd. in Jiu
County
Reply of Yan’an Bureau of
Administrative Services on the EIS
Yan’an Bureau of
of the New Hog Breeding Project of Y.X.S.C.H.F. [2020] No.
Administrative Feb. 27, 2020
Luochuan Xinliu Technology Co., 189
Services
Luochuan Ltd. in Wujiao Village, Shitou
Xinliu Town
Technology Reply of Yan’an Bureau of
Co., Ltd. Administrative Services on the EIS
Yan’an Bureau of
of Hog Breeding Project of Y.X.S.C.H.F. [2020] No.
Administrative Dec. 31, 2016
Luochuan Xinliu Technology Co., 190
Services
Ltd. in Beigu Village, Yangshu
Township
Yijun Xinliu Reply of Tongchuan Environmental Tongchuan
Technology Protection Bureau on the EIS of the Environmental Dec. 31, 2016 T.H.P.F. [2018] No. 240
Co., Ltd. Hog Breeding Project of Tibet Protection Bureau
153
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Xinhao Technology Co., Ltd. Yijun
Branch
Wuqi Xinliu Reply on the EIS of the Hog Yan’an Bureau of
Y.X.S.C.H.F. [2020] No.
Technology Breeding Project of Wuqi Xinliu Administrative Oct. 25, 2016
27
Co., Ltd. Technology Co., Ltd. Services
Reply of Yangling Demonstration
Zone Environmental Protection
Bureau on the EIS of the Current Yangling
Status of Ecological Piglet Demonstration Zone
Oct. 11, 2018 Y.G.H.P.F. [2016] No. 66
Breeding Base Construction Project Environmental
(Li’s Pig Farm) of Yangling Besun Protection Bureau
Yangling Besun Agricultural Industry Group Co.,
Agricultural Ltd.
Industry Group Reply of Yangling Demonstration
Co., Ltd. Zone Environmental Protection
Bureau on the EIS of the Current Yangling
Status of Ecological Piglet Demonstration Zone
Sept. 25, 2020 Y.G.H.P.F. [2016] No. 65
Breeding Base (Fattening Base) Environmental
Construction Project of Yangling Protection Bureau
Besun Agricultural Industry Group
Co., Ltd.
Reply of Xianyang Environmental
Xianyang Protection Bureau on the
Yongxiang Environmental Protection Xianyang
Agricultural Acceptance upon Completion of the Environmental Oct. 25, 2016 X.H.P.F. [2016] No. 134
Technology 4,500 Swines Breeding Base Protection Bureau
Co., Ltd. Construction Project in Yongshou
County
Shaanxi
Zhongshan Reply on the EIS of Shaanxi
Jingyang County
Xingwang Zhongshan Xingwang Farm Project
Environmental Oct. 11, 2018 J.H.H. [2018] No. 147
Farming of Shaanxi Zhongshan Xingwang
Protection Bureau
Technology Farming Technology Co., Ltd.
Co., Ltd.
Reply of Xianyang Bureau of
Liquan New
Administrative Services on the EIS
Hope Liuhe Xianyang Bureau of
of the Hog Cluster Breeding
Farming Administrative Sept. 25, 2020 X.X.S.P.F. [2020] No. 215
Construction Project of Liquan
Technology Services
New Hope Liuhe Farming
Co., Ltd.
Technology Co., Ltd.
Reply on the EIS of the 370,000/a
Shenyang Ecology
Hogs Modern Agricultural
and Environment S.H.K.P.S. Zi [2019] No.
Industrialization Construction Apr. 26, 2019
Bureau Kangping 007
Project of Kangping Xinwang
Branch
Farming Co., Ltd.
Shenyang Ecology
Reply on the EIS of Xiaodong Farm
and Environment S.H.K.P.S. Zi [2019] No.
Kangping Construction Project of Kangping Dec. 5, 2019
Bureau Kangping 034
Xinwang Xinwang Farming Co., Ltd.
Branch
Farming Co.,
Reply on the EIS of Kangliuwang Shenyang Ecology
Ltd.
Farm Construction Project of and Environment
Aug. 14, 2020 S.K.H.S. [2020] No. 044
Kangping Xinwang Farming Co., Bureau Kanping
Ltd. Branch
Reply on the EIS of Kangbawang Shenyang Ecology
Farm Construction Project of and Environment
Aug. 14, 2020 S.K.H.S. [2020] No. 046
Kangping Xinwang Farming Co., Bureau Kanping
Ltd. Branch
Reply on the EIS of the Swine Farm
Construction Project of Zhangwu Zhangwu County
Xinwang Farming Co., Ltd. in Environmental Sept. 15, 2020 Z.H.H.S. [2020] No. 39
Zhangwu
Baiyingao Village, Houxinqiu Protection Bureau
Xinwang
Town
Farming Co.,
Reply on the EIS of the Farm
Ltd. Zhangwu County
Construction Project of Zhangwu
Environmental Nov. 24, 2020 Z.H.H.S. [2020] No. 48
Xinwang Farming Co., Ltd. in
Protection Bureau
Baiyingao Village, Houxinqiu
154
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Town
Reply on the EIS of the Farm
Zhangwu County
Construction Project of Zhangwu
Environmental Sept. 15, 2020 Z.H.H.S. [2020] No. 42
Xinwang Farming Co., Ltd. in
Protection Bureau
Hanjia Village, Dade Town
Reply on the EIS of the Farm I
Zhangwu County
Construction Project of Zhangwu
Environmental Sept. 15, 2020 Z.H.H.S. [2020] No. 41
Xinwang Farming Co., Ltd. in
Protection Bureau
Houyaowo Village, Daleng Town
Reply on the EIS of the 13,500
Heishan County
Sows Farm Project in Ciyu Village,
Environmental Oct. 22, 2020 H.H.S.C. [2020] No. 10
Xinxing Town, Heishan County,
Protection Bureau
Jinzhou, Liaoning Province
Reply on the EIS of the 72,000 Pigs Heishan County
Fattening Farm Project in Liuhe Environmental Aug. 10, 2020 H.H.S.C. [2020] No. 8
Village, Heishan County, Liaoning Protection Bureau
Heishan Xinliu
Reply on the EIS of the Pig Farm
Farming
Project in Woniu Village of the Heishan County
Technology
670,000/a Hogs Breeding and Environmental Dec. 17, 2019 H.H.S. [2019] No. 44
Co., Ltd.
Farming Integrated Eco-industrial Protection Bureau
Park Phase I
Reply on the EIS of the Pig Farm
Project in Gaojia Wopu Village of Heishan County
the 670,000/a Hogs Breeding and Environmental Dec. 17, 2019 H.H.S. [2019] No. 43
Farming Integrated Eco-industrial Protection Bureau
Park Phase I
Reply on the Adjusted EIS of the
300,000/a Hogs Modern Xinmin
Agricultural Industrialization Environmental Jan. 23, 2019 X.H.H. [2019] No. 1
Construction Project of Liaoning Protection Bureau
Xinwang Technology Co., Ltd.
Reply on the Adjusted EIS of the
500,000/a Hogs Modern Xinmin
Agricultural Industrialization Environmental Jan. 23, 2019 X.H.H. [2019] No. 2
Construction Project of Liaoning Protection Bureau
Xinwang Technology Co., Ltd.
Reply on the Adjusted EIS of the
18,000 Pigs Fattening Modern Shenyang Ecology
Agricultural Industrialization and Environment
Mar. 5, 2019 X.H.H. [2019] No. 4
Construction Project of Liaoning Bureau Xinmin
Xinwang Technology Co., Ltd. (in Branch
Fangshen Village)
Reply on the Adjusted EIS of the
18,001 Pigs Fattening Modern Shenyang Ecology
Liaoning Agricultural Industrialization and Environment
Mar. 5, 2019 X.H.H. [2019] No. 3
Xinwang Construction Project of Liaoning Bureau Xinmin
Technology Xinwang Technology Co., Ltd. (in Branch
Co., Ltd. Dongyao Village)
Shenyang Ecology
Reply on the EIS of Taohua Pig
and Environment S.H.X.M.S. Zi [2019] No.
Fattening Farm Project of Liaoning Oct. 16, 2019
Bureau Xinmin 151
Xinwang Technology Co., Ltd.
Branch
Reply on the EIS of Xinmin Shenyang Ecology
Gongliu Farm Construction Project and Environment S.H.X.M.S. Zi [2020] No.
Jun. 11, 2020
of Liaoning Xinwang Technology Bureau Xinmin 47
Co., Ltd. Branch
Reply on the EIS of Xinmin Liujia Shenyang Ecology
Farm Construction Project of and Environment S.H.X.M.S. Zi [2020] No.
Jun. 11, 2020
Liaoning Xinwang Technology Co., Bureau Xinmin 48
Ltd. Branch
Reply on the EIS of Xinmin Liuwei Shenyang Ecology
Farm Construction Project of and Environment S.H.X.M.S. Zi [2020] No.
Jun. 11, 2020
Liaoning Xinwang Technology Co., Bureau Xinmin 49
Ltd. Branch
Reply on the EIS of Xinmin Shenyang Ecology S.H.X.M.S. Zi [2020] No.
Nov. 25, 2020
Dongwei Farm Construction Project and Environment 98
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
of Liaoning Xinwang Technology Bureau Xinmin
Co., Ltd. Branch
Reply on the EIS of Xinmin Gongta Shenyang Ecology
Farm Construction Project of and Environment S.H.X.M.S. Zi [2020] No.
Nov. 25, 2020
Liaoning Xinwang Technology Co., Bureau Xinmin 97
Ltd. Branch
Reply on the EIS of the Hog Fuxin Mongol
Fuxin Xinwang Breeding Project of Fuxin Xinwang Autonomous
Livestock Co., Livestock Co., Ltd. in Mutou County Nov. 25, 2020 M.M.H.S. (2020) No. 15
Ltd. Guilige Village, Zhalan Yingzi Environmental
Town Protection Bureau
Reply on the EIS of the 1 million /a
Tongliao
Hogs Farming Project of Tongliao
Environmental Sept. 7, 2018 T.H.S. [2018] No. 39
Xinhao Farming Co., Ltd. at
Protection Bureau
Zhenan Farm
Tongliao Reply on the EIS of the 1 million /a
Tongliao
Xinhao Hogs Farming Project of Tongliao
Environmental Sept. 7, 2018 T.H.S. [2018] No. 38
Farming Co., Xinhao Farming Co., Ltd. at
Protection Bureau
Ltd. Sanyitang Farm
Reply on the EIS of the Fattening Tongliao Ecology
Farm Construction Project of and Environment
Apr. 22, 2020 T.K.H.S. [2020] No. 09
Tongliao Xinhao Farming Co., Ltd. Bureau Horqin
In Qianjuliuhe Gacha Village Branch
Yichun
Reply on the EIS of the Integrated Yichun Ecology and
Xinwang
Pig Farm Construction Project of Environment Jul. 29, 2020 Y.H.C.S. [2020] No. 1
Farming Co.,
Yichun Xinwang Farming Co., Ltd. Bureau
Ltd.
Reply on the EIS of the 300,000/a
Shiyan Xinyue
Hogs and Swines Farm Project of Shiyan Ecology and
Farming
Shiyan Xinyue Farming Environment Feb. 5, 2021 S.H.H. [2021] No. 54
Technology
Technology Co., Ltd. in Shiziling, Bureau
Co., Ltd.
Yunyang District, Shiyan, Hubei
Reply of Chengdu Xinjin District
Chengdu Xinjin Ecology and Environment Bureau Chengdu Xinjin
Xinhao on the EIS of New Hope Liuhe District Ecology C.J.H.C.N.H.P.S. [2021]
Mar. 29, 2021
Farming Co., Sichuan Xinjin 5S Pig Farm Project and Environment No. 11
Ltd. of Chengdu Xinjin Xinhao Farming Bureau
Co., Ltd.
Reply of Zibo Ecology and
New Hope
Environment Bureau Zichuan
Liuhe (Zibo) Zibo Ecology and
Branch on the EIS Disclosure
Agricultural Environment
Commitment of the Pig Industry Sept. 13, 2021 C.H.S. [2021] No. 4
Technology Bureau Zichuan
Quhua Project of New Hope Liuhe
Development Branch
(Zibo) Agricultural Technology
Co., Ltd.
Development Co., Ltd.
Laibin New
Reply of Laibin Ecology and
Hope Liuhe Laibin Ecology and
Environment Bureau on the EIS of
Farming Environment Jun. 29, 2021 L.H.S. [2021] No. 141
the 4,500 GGGP Pig Project in
Technology Bureau
Nama County, Laibin, Guangxi
Co., Ltd.
Reply of Jiangyou Environmental
Protection Bureau on the EIS of Jiangyou
Dongxing Farm Project of Jiangyou Environmental Dec. 11, 2014 J.H.Z. [2014] No. 264
Jiangyou New
New Hope Hypor Swine Breeding Protection Bureau
Hope Hypor
Co., Ltd.
Swine Breeding
Reply of Mianyang Environmental
Co., Ltd. Mianyang
Protection Bureau on the EIS of the
Environmental Oct. 31, 2006 M.H.H. [2006] No. 247
Prime Breeding Pig Farm of South
Protection Bureau
Hope Industrial Co., Ltd.
Measures taken to reduce carbon emissions and effects during the reporting period
applicable □not applicable
The company actively implements the national carbon peaking and carbon neutrality strategy. It actively promotes
photovoltaic projects for feed, food and other high-power consumption businesses to increase the proportion of green electricity,
156
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
actively promotes manure anaerobic treatment and biogas reuse for big business, and actively promotes wheat, vegetables and
grass planting in consumption sites, to promote the company’s overall energy saving and carbon reduction with multiple measures
and multi-pronged approaches.
In terms of green electricity utilization, by the end of June 2023, the total installed capacity of grid-connected power
generation photovoltaic projects completed by the company was 15.31MW, and the photovoltaic power generation in the first half
of 2023 was about 7 million KWH, reducing CO2 emissions by about 6,900 tons.
In terms of livestock and poultry manure treatment, 100% of pig business waste of the company were harmless treated in the
first half of 2023, with a total of about 7.16 million tons of sewage and 130,000 tons of pig manure treated in the first half of the
year. Biogas is produced by anaerobic fermentation of sewage for power generation or internal heating, and CH4 emission of pig
manure is reduced after aerobic composting, reducing CO2 emissions by about 520,000 tons in the first half of the year.
In terms of biological carbon sequestration, the pig business of the company made efficient use of 138,500 mu of
consumption land in the first half of 2023, of which 62,500 mu were planted with wheat, vegetables, grass and other crops, and the
remaining were planted with apple, orange and other fruit trees, realizing a total of 80,000 tons of biological carbon sequestration
(indirect reduction of CO2 emission).
Other information related to environmental protection
Name of
pollution Treatment Treatment Operational
Company name Time put into operation
control process capacity status
facilities
Sewage Anaerobic +
Linyi Liuhe Food 1,200 cubic Running
treatment aerobic (A/O Put into operation in 2015
Co., Ltd. meters/day normally
system process)
Lanling New Hope Sewage Anaerobic +
600 cubic Running
Liuhe Hongjun treatment aerobic (A/O Put into operation in 2013
meters/day normally
Food Co., Ltd. system process)
Pingyi
Refrigeration Acquired in 1997, operated
Sewage
Factory of Biological contact 1,200 cubic using the original tanks, and Running
treatment
Shandong New oxidation process meters/day further improved in normally
system
Hope Liuhe Group 2002/2004
Co., Ltd.
SBR system put into
Sewage
Qingdao Tianrun 4600 cubic operation in 2005, followed Running
treatment A2/0+A/O process
Food Co., Ltd. meters/day by A/O process in 2009, normally
system
and expansion in 2018
Xiaoyi New Hope Sewage Anaerobic + Put into operation in 2012,
1600 cubic Running
Liuhe Food Co., treatment aerobic (A/O process improved in 2016,
meters/day normally
Ltd. system process) with bio-filters added
Put into operation in 2010,
Yishui New Hope Sewage Anaerobic +
1800 cubic and further improved in Running
Liuhe Food Co., treatment aerobic (A/O
meters/day 2014 through sewage normally
Ltd. system process)
treatment system
Sewage Anaerobic + Put into operation in 2009,
Guantao Liuhe 3400 cubic Running
treatment aerobic (A/O and further improved in
Food Co., Ltd. meters/day normally
system process) 2017
Binzhou Liuhe Sewage
SBR process + 500 cubic Running
Longda Farming treatment Put into operation in 2008
A/O process meters/day normally
Co., Ltd. system
Wudi Liuhe Sewage
SBR process + 1000 cubic Running
Xinyang Food Co., treatment Put into operation in 2006
A/O process meters/day normally
Ltd. system
Sewage Anaerobic + Put into operation in 2004
Zouping Liuhe 1000 cubic Running
treatment aerobic (A/O and transformed and
Livestock Co., Ltd. meters/day normally
system process) upgraded in 2012
Shan County Liuhe Sewage Hydrolytic
1300 cubic Running
Feed Co., Ltd. Food treatment acidification + Put into operation in 2012
meters/day normally
Branch system BRN
Cao County Liuhe Sewage FBR process 1400 cubic Put into operation in 2007 Running
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Food Co., Ltd. treatment meters/day normally
system
Jiaxiang New Hope Sewage Anaerobic +
3000 cubic Running
Liuhe Food Co., treatment aerobic (A/O Put into operation in 2017
meters/day normally
Ltd. system process)
Put into operation in 2006,
Sewage Anaerobic +
Yuncheng Liuhe 800 cubic and transformed and Running
treatment aerobic (A/O
Food Co., Ltd. meters/day upgraded in 2011 and 2017 normally
system process)
respectively
Sewage Anaerobic +
Anshan Liuhe Food 2000 cubic Running
treatment aerobic (A/O Put into operation in 2007
Co., Ltd. meters/day normally
system process)
Sewage
Panjin Liuhe Biological contact 1,200 cubic Running
treatment Put into operation in 2011
Farming Co., Ltd. oxidation process meters/day normally
system
Sewage Anaerobic +
Dong’e Liuhe Lvjia 600 cubic Running
treatment aerobic (A/O Put into operation in 2010
Food Co., Ltd. meters/day normally
system process)
Combined air
Shen County New
Sewage flotation + Put into operation in
Hope Liuhe 2000 cubic Running
treatment biological contact December 2013 and
Qingsizhai Food meters/day normally
system oxidation (A/O accepted in July 2014
Co., Ltd.
process)
Contact oxidation process
Yanggu Liuhe Sewage Anaerobic +
3000 cubic put into operation in 2009, Running
Luxin Food Co., treatment aerobic (A/O
meters/day followed by A/O process in normally
Ltd. system process)
2015
Sewage Contact oxidation process
Weifang Tianhui Contact oxidation 700 cubic Running
treatment put into operation in 2007,
Food Co., Ltd. process + SBR meters/day normally
system followed by SBR in 2009
Weifang Sewage Anaerobic +
5700 cubic Running
Heshengyuan Food treatment aerobic (A/O Put into operation in 2018
meters/day normally
Co., Ltd. system process)
Luoyang Liuhe Sewage Anaerobic + Put into operation in 2008,
1000 cubic Running
Huiquan Food Co., treatment aerobic (A/O and further improved in
meters/day normally
Ltd. system process) 2015
Sewage Anaerobic +
Hebi Liuhe Zhizhen 2000 cubic Put into operation in 2011 Running
treatment aerobic (A/O
Food Co., Ltd. meters/day and upgraded in 2015 normally
system process)
Laiwu New Hope Sewage Anaerobic +
3000 cubic Running
Liuhe Food Co., treatment aerobic (A/O Put into operation in 2014
meters/day normally
Ltd. system process)
Dezhou Liuhe Sewage Anaerobic + Put into operation in 2008
1000 cubic Running
Zhikang Food Co., treatment aerobic (A/O and system improved in
meters/day normally
Ltd. system process) 2020
Put into operation in 2013,
Fei County Liuhe Sewage Anaerobic +
2000 cubic and further improved in Running
Huahai Food Co., treatment aerobic (A/O
meters/day 2016 through sewage normally
Ltd. system process)
treatment system
Fuxin Liuhe Sewage Anaerobic +
1500 cubic Running
Farming Co., Ltd. treatment aerobic (A/O Put into operation in 2007
meters/day normally
Food Branch system process)
Taiqian New Hope Sewage Anaerobic +
2000 cubic Running
Liuhe Luxin Food treatment aerobic (A/O Put into operation in 2020
meters/day normally
Co., Ltd. system process)
Laoting Liuhe Sewage Anaerobic +
1500 cubic Running
Xinmeizi Food Co., treatment aerobic (A/O Put into operation in 2016
meters/day normally
Ltd. system process)
Qixia Refrigeration
Factory of Sewage Anaerobic +
1,200 cubic Running
Shandong New treatment aerobic (A/O Put into operation in 2012
meters/day normally
Hope Liuhe Group system process)
Co., Ltd.
Sewage Put into operation in 2008,
Laiyang Tianye 1,200 cubic Running
treatment A/O process and further improved in
Food Co., Ltd. meters/day normally
system 2016 through sewage
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
treatment system
Tai'an Taishan Sewage Anaerobic +
1500 cubic Running
Liuhe Food Co., treatment aerobic (A/O Put into operation in 2015
meters/day normally
Ltd. system process)
Shandong New Put into operation in 2013,
Sewage Anaerobic +
Hope Liuhe Group 1500 cubic and further improved in Running
treatment aerobic (A/O
Co., Ltd. Linyi meters/day 2019 through sewage normally
system process)
Branch treatment system
Qingdao Liuhe Sewage
800 cubic Running
Wanfu Food Co., treatment SBR process Put into operation in 2012
meters/day normally
Ltd. system
Fenxi New Hope Sewage Anaerobic +
1000 cubic Put into operation in 2011 Running
Liuhe Food Co., treatment aerobic (A/O
meters/day and upgraded in 2020 normally
Ltd. system process)
Air flotation
Sewage machine +
Pingyi Liuhe Fada 1400 cubic Running
treatment Hydrolytic 2021
Food Co., Ltd. meters/day normally
system acidification +
AA/O
Linyi Liuhe Sewage Anaerobic +
1000 cubic Put into operation in March Running
Hongchen Farming treatment aerobic (A/O
meters/day 2009 normally
Co., Ltd. system process)
Sewage
Beijing Kinghey Biological contact 1500 cubic Running
treatment Put into operation in 2004
Food Co., Ltd. oxidation process meters/day normally
system
Hebei Kinghey Sewage
1500 cubic Running
Meat Industry Co., treatment A/O process Put into operation in 2006
meters/day normally
Ltd. system
Sewage Biological contact Phase I put into operation in
Liaoning Kinghey 3000 cubic Running
treatment oxidation process, 2006, followed by Phase II
Food Co., Ltd. meters/day normally
system A/O process in 2019
Sewage Anaerobic +
Chengdu Hope 1400 cubic Running
treatment aerobic (A/O Put into operation in 2010
Food Co., Ltd. meters/day normally
system process)
Sewage Biological contact
Shandong Kinghey 3000 cubic Running
treatment oxidation process, 2022
Food Co., Ltd. meters/day normally
system A/O process
Sewage Anaerobic +
330 cubic Put into operation in Running
treatment aerobic (A/O
meters/day January 2021 normally
Chenzhou Xinhao system process)
Farming Co., Ltd. Sewage Anaerobic +
290 cubic Put into operation in Running
treatment aerobic (A/O
meters/day December 2022 normally
system process)
Hengnan County
Sewage Anaerobic +
Muyun Eco- 300 cubic Put into operation in Running
treatment aerobic (A/O
agriculture Co., meters/day January 2021 normally
system process)
Ltd.
Pretreatment +
Huzhou Changxing Sewage anaerobic + three-
800 cubic Put into operation in May Running
Huatong Farming treatment stage A/O +
meters/day 2021 normally
Co., Ltd. system physicochemical
precipitation
Sewage Anaerobic +
Shaoyang Xinmu 575 cubic Put into operation in July Running
treatment aerobic (A/O
Farming Co., Ltd. meters/day 2022 normally
system process)
Sewage Anaerobic +
Hengyang Xinhao 700 cubic Put into operation in Running
treatment aerobic (A/O
Farming Co., Ltd. meters/day December 2022 normally
system process)
Hongming Group II
Sow Farm of
Hainan Xinliu
Sewage Anaerobic +
Agricultural 200 cubic Put into operation in Running
treatment aerobic (A/O
Reclamation meters/day February 2021 normally
system process)
Farming
Technology Co.,
Ltd.
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Sewage Anaerobic +
200 cubic Put into operation in Running
treatment aerobic (A/O
Hainan Changjiang meters/day October 2020 normally
system process)
Xinliu Breeding
Sewage Anaerobic +
Co., Ltd. 300 cubic Put into operation in August Running
treatment aerobic (A/O
meters/day 2021 normally
system process)
Sewage Anaerobic +
250 cubic Put into operation in August Running
treatment aerobic (A/O
Hainan Lingao meters/day 2020 normally
system process)
Xinliu Breeding
Sewage Anaerobic +
Co., Ltd. 600 cubic Put into operation in June Running
treatment aerobic (A/O
meters/day 2021 normally
system process)
Hainan Xinliu
Agricultural
Sewage Anaerobic +
Reclamation 550 cubic Put into operation in July Running
treatment aerobic (A/O
Farming meters/day 2021 normally
system process)
Technology Co.,
Ltd.
Sewage
Laibin Xinhao UASB + two-stage 400 cubic Put into operation in Running
treatment
Farming Co., Ltd. A/O process meters/day October 2019 normally
system
Sewage
UASB + two-stage 150 cubic Put into operation in May Running
treatment
A/O process meters/day 2021 normally
system
Sewage
Xiangzhou Xinhao UASB + two-stage 400 cubic Put into operation in May Running
treatment
Farming Co., Ltd. A/O process meters/day 2020 normally
system
Sewage
UASB + two-stage 150 cubic Put into operation in May Running
treatment
A/O process meters/day 2021 normally
system
Sewage
Longzhou Xinhao UASB + two-stage 880 cubic Put into operation in Running
treatment
Farming Co., Ltd. A/O process meters/day October 2020 normally
system
Sewage
Hezhou Xinhao UASB + two-stage 330 cubic Put into operation in Running
treatment
Farming Co., Ltd. A/O process meters/day October 2020 normally
system
Sewage
UASB + two-stage 520 cubic Put into operation in Running
treatment
A/O process meters/day February 2021 normally
Guigang Xinliu system
Farming Co., Ltd. Sewage
Black membrane 60 cubic Put into operation in July Running
treatment
biogas EPC meters/day 2021 normally
system
Sewage
Laibin Xinhao UASB + two-stage 440 cubic Put into operation in Running
treatment
Farming Co., Ltd. A/O process meters/day October 2020 normally
system
Sewage
Luocheng Xinhao UASB + two-stage 300 cubic Put into operation in March Running
treatment
Farming Co., Ltd. A/O process meters/day 2021 normally
system
Sewage
Lipu Xinhao UASB + two-stage 380 cubic Put into operation in August Running
treatment
Farming Co., Ltd. A/O process meters/day 2021 normally
system
Liuzhou Xinliu
Sewage
Farming UASB + two-stage 300 cubic Put into operation in July Running
treatment
Technology Co., A/O process meters/day 2022 normally
system
Ltd.
Sewage
Ningming Xinhao UASB + two-stage 480 cubic Put into operation in August Running
treatment
Farming Co., Ltd. A/O process meters/day 2020 normally
system
Sewage
Nanning Xinhao UASB + two-stage 350 cubic Put into operation in Running
treatment
Farming Co., Ltd. A/O process meters/day September 2020 normally
system
Nanning Xinliu
Sewage
Farming UASB + two-stage 250 cubic Put into operation in Running
treatment
Technology Co., A/O process meters/day December 2020 normally
system
Ltd.
Nanning Xinliu Sewage UASB + two-stage 225 cubic Put into operation in Running
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Farming Co., Ltd. treatment A/O process meters/day December 2022 normally
system
Nanning Wuming
Sewage
Xinliu Farming UASB + two-stage 180 cubic Put into operation in May Running
treatment
Technology Co., A/O process meters/day 2021 normally
system
Ltd.
Sewage
Xiajiang Xinliu UASB + two-stage 360 cubic Put into operation in April Running
treatment
Farming Co., Ltd. A/O process meters/day 2021 normally
system
Sewage
UASB + two-stage 240 cubic Put into operation in May Running
treatment
Yingtan Xinliu A/O process meters/day 2021 normally
system
Technology Co.,
Sewage
Ltd. UASB + two-stage 580 cubic Put into operation in May Running
treatment
A/O process meters/day 2021 normally
system
Jiangxi New Hope
Sewage
Liuhe Farming UASB + two-stage 1170 cubic Put into operation in May Running
treatment
Technology Co., A/O process meters/day 2021 normally
system
Ltd.
Wannian New Sewage
UASB + two-stage 460 cubic Put into operation in Running
Hope Liuhe treatment
A/O process meters/day November 2021 normally
Farming Co., Ltd. system
Sewage
UASB + two-stage 480 +240 cubic Put into operation in June Running
Tongcheng Xinliu treatment
A/O process meters/day 2021 normally
Farming system
Technology Co., Sewage
UASB + two-stage 450 cubic Put into operation in Running
Ltd. treatment
A/O process meters/day December 2022 normally
system
Ruyuan Yao
Sewage UASB+secondsary
Autonomous 350 cubic Put into operation in April Running
treatment AO+Ozone
County Xinhao meters/day 2021 normally
system +BAF+ cloth filter
Farming Co., Ltd.
Guangdong Xinhao Sewage
UASB + two-stage 330 cubic Put into operation in Running
Zhenghe Farming treatment
A/O process meters/day October 2020 normally
Co., Ltd. system
Sewage
Zhaoqing Xinhao UASB + two-stage 220 cubic Put into operation in Running
treatment
Farming Co., Ltd. A/O process meters/day February 2021 normally
system
Longhai New Hope Sewage
UASB + two-stage 1500 cubic Put into operation in July Running
Liuhe Farming Co., treatment
A/O process meters/day 2022 normally
Ltd. system
Pretreatment +
anaerobic + two-
Quzhou Yihai Sewage
stage A/O + 760 cubic Put into operation in Running
Agriculture Co., treatment
physicochemical meters/day October 2020 normally
Ltd. system
precipitation +
Fenton
Pretreatment +
anaerobic + two-
Ningbo New Hope Sewage
stage A/O + 731 cubic Put into operation in April Running
Liuhe Farming Co., treatment
physicochemical meters/day 2021 normally
Ltd. system
precipitation +
Fenton
Rui'an New Hope Sewage
Anaerobic + two- 428 cubic Put into operation in April Running
Liuhe Farming Co., treatment
stage A/O meters/day 2021 normally
Ltd. system
Sewage
Rugao Xinhao UASB + two-level 180 cubic Put into operation in Running
treatment
Farming Co., Ltd. AO meters/day January 2018 normally
system
Sewage
Yancheng Zhongtai Biogas 700 cubic Put into operation in Running
treatment
Livestock Co., Ltd. fermentation meters/day January 2020 normally
system
Sewage
Nanjing Xinmu UASB + two-level 300 cubic Put into operation in Running
treatment
Farming Co., Ltd. AO meters/day September 2020 normally
system
Wulian Xinhao Sewage UASB + two-level 700 cubic Put into operation in Running
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Farming Co., Ltd. treatment AO meters/day September 2020 normally
system
Sewage
UASB + two-level 697 cubic Put into operation in April Running
treatment
Laixi New Hope AO meters/day 2021 normally
system
Liuhe Farming Co.,
Sewage
Ltd. UASB + two-level 220 cubic Put into operation in June Running
treatment
AO meters/day 2020 normally
system
Sewage Pretreatment +
Laiyang Xinhao 450 cubic Put into operation in Running
treatment UASB + two-stage
Livestock Co., Ltd. meters/day September 2019 normally
system AO
Sewage
Raoyang Xinhao UASB + two-level 400 cubic Put into operation in Running
treatment
Farming Co., Ltd. AO meters/day January 2020 normally
system
Sewage
Jing County Xinhao UASB + two-level 220 cubic Running
treatment Put into operation in 2021
Farming Co., Ltd. AO meters/day normally
system
Tianjin Xinliu
Sewage
Farming UASB + two-stage 720* 3 cubic Put into operation in June Running
treatment
Technology Co., A/O meters/day 2021 normally
system
Ltd.
Tianjin New Hope
Sewage
Liuhe Farming UASB + two-stage 450 cubic Put into operation in Running
treatment
Technology Co., A/O meters/day November 2021 normally
system
Ltd.
Sewage
Beijing Xinliu Two-stage AO + 500 cubic Put into operation in Running
treatment
Farming Co., Ltd. anaerobic meters/day December 2020 normally
system
Sewage
Put into operation in March Running
treatment
Gaotang County 2019 normally
system UASB + two-level 460 cubic
Xinhao Farming
Sewage AO meters/day
Co., Ltd. Put into operation in May Running
treatment
2020 normally
system
Jiaxiang Xinliu Sewage
UASB + two-stage 300 cubic Put into operation in April Running
Swine Breeding treatment
A/O meters/day 2019 normally
Co., Ltd. system
Shandong Liuhe Sewage
UASB + two-stage 120 cubic Put into operation in Running
Yinbao Breeding treatment
A/O meters/day January 2006 normally
Co., Ltd. system
Put into operation in August
Sewage
Juye Xinhao UASB + two-stage 920 cubic 2020 (Phase I)/ put into Running
treatment
Farming Co., Ltd. A/O meters/day operation in December normally
system
2020 (Phase II)
Sewage
Heze Xinhao UASB + two-stage 390 cubic Put into operation in August Running
treatment
Farming Co., Ltd. A/O meters/day 2020 normally
system
Sewage
Cao County Xinhao UASB + two-stage 620 cubic Put into operation in May Running
treatment
Farming Co., Ltd. A/O meters/day 2020 normally
system
Shan County Sewage
UASB + two-stage 480 cubic Put into operation in Running
Xinhao Farming treatment
A/O meters/day December 2020 normally
Co., Ltd. system
Yucheng New Sewage Pretreatment +
200 cubic Put into operation in Running
Hope Liuhe Swine treatment UASB + two-stage
meters/day January 2020 normally
Breeding Co., Ltd. system AO
Laizhou New Hope Sewage Pretreatment +
340 cubic Put into operation in Running
Liuhe Farming Co., treatment UASB + two-stage
meters/day September 2020 normally
Ltd. system AO
Sewage Pretreatment +
300 cubic Put into operation in June Running
treatment UASB + two-stage
meters/day 2020 normally
Xiajin New Hope system AO
Liuhe Farming Co., Sewage Pretreatment +
400 cubic Put into operation in June Running
Ltd. treatment UASB + two-stage
meters/day 2020 normally
system AO
Sewage Pretreatment + 80 cubic Put into operation in June Running
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treatment UASB + two-stage meters/day 2020 normally
system AO
Sewage Pretreatment +
80 cubic Put into operation in June Running
treatment UASB + two-stage
meters/day 2020 normally
system AO
Sewage Pretreatment +
220 cubic Put into operation in June Running
treatment UASB + two-stage
meters/day 2020 normally
system AO
Zhangjiakou Sewage
UASB + two-level 500 cubic Put into operation in Running
Xinwang Farming treatment
AO meters/day October 2020 normally
Co., Ltd. system
Sewage
UASB + two-level 540 cubic Put into operation in Running
treatment
AO meters/day September 2019 normally
Hebei Xinhao system
Fucheng Sewage
UASB + two-level 240 cubic Put into operation in Running
Agricultural treatment
AO meters/day February 2019 normally
Technology Co., system
Ltd. Sewage
UASB + two-level 240 cubic Put into operation in July Running
treatment
AO meters/day 2019 normally
system
Sewage Pretreatment +
Liaocheng Xinhao 610 cubic Put into operation in Running
treatment UASB + three-
Farming Co., Ltd. meters/day January 2019 normally
system stage AO
Sewage Pretreatment +
1050 cubic Put into operation in April Running
treatment UASB + two-stage
Dong’e New Hope meters/day 2019 normally
system AO
Liuhe Swine
Sewage Pretreatment +
Breeding Co., Ltd. 480 cubic Put into operation in March Running
treatment UASB + two-stage
meters/day 2023 normally
system AO
Sewage
UASB + two-level 260 cubic Put into operation in June Running
treatment
AO meters/day 2021 normally
system
Sewage Black membrane
144 cubic Put into operation in July Running
treatment biogas process +
Wuhe New Hope meters/day 2020 normally
system AO system
Liuhe Livestock
Sewage
Co., Ltd. Black membrane 144 cubic Put into operation in August Running
treatment
biogas process meters/day 2020 normally
system
Sewage
UASB + two-level 795 cubic Put into operation in March Running
treatment
AO meters/day 2021 normally
system
Sewage Pretreatment +
690 cubic Put into operation in Running
treatment UASB + two-stage
Dongying Xinhao meters/day December 2020 normally
system AO
Modern Farming
Sewage Pretreatment +
Co., Ltd. 430 cubic Put into operation in Running
treatment UASB + two-stage
meters/day September 2020 normally
system AO
Zhucheng Xinliu
Sewage
Farming UASB + two-stage 500 cubic Put into operation in Running
treatment
Technology Co., AO meters/day November 2020 normally
system
Ltd.
Sewage
Laiyang Xinmu Pretreatment + 850 cubic Put into operation in April Running
treatment
Breeding Co., Ltd. UASB meters/day 2023 normally
system
Zhenjiang New Sewage
UASB + two-level 370 +470 cubic Put into operation in March Running
Hope Farming Co., treatment
AO meters/day 2020 normally
Ltd. system
Gansu Xinliu
Sewage
Farming UASB + two-level 720 cubic Put into operation in May Running
treatment
Technology Co., AO meters/day 2021 normally
system
Ltd.
Sewage CSTR fully mixed
700 cubic Put into operation in April Running
Gansu New Hope treatment anaerobic
meters/day 2021 normally
Liuhe Farming Co., system treatment
Ltd. Sewage CSTR fully mixed 740 cubic Put into operation in May Running
treatment anaerobic meters/day 2021 normally
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system treatment
Sewage Pretreatment +
Lingbao Xinliu 240 cubic Put into operation in Running
treatment UASB + two-stage
Farming Co., Ltd. meters/day January 2020 normally
system AO
Sewage Pretreatment +
480 cubic Put into operation in June Running
Puyang Xinliu treatment UASB + two-stage
meters/day 2021 normally
Farming system AO
Technology Co., Sewage Pretreatment +
900 cubic Put into operation in June Running
Ltd. treatment UASB + two-stage
meters/day 2021 normally
system AO
Pucheng Xinliu
Sewage
Technology Co., Pretreatment + 740 cubic Running
treatment Put into operation in 2021
Ltd. Pucheng Pig UASB + AO meters/day normally
system
Farm
Yijun Xinliu Sewage Pretreatment +
300 cubic Running
Technology Co., treatment UASB + two-stage Put into operation in 2020
meters/day normally
Ltd. system AO
Wuqi Xinliu Sewage Pretreatment +
500 cubic Running
Technology Co., treatment UASB + two-stage Put into operation in 2021
meters/day normally
Ltd. system A/O
Sewage Pretreatment +
480 cubic Put into operation in Running
treatment UASB + two-stage
meters/day February 2019 normally
Yanting Xinhao system AO
Farming Co., Ltd. Sewage Pretreatment +
360 cubic Put into operation in Running
treatment UASB + two-stage
meters/day January 2022 normally
system AO
Guangyuan Xinhao Sewage Pretreatment +
340 cubic Put into operation in Running
Farming Co., Ltd. treatment UASB + two-stage
meters/day December 2020 normally
Shanxi Pig Farm system AO
Langzhong Xinliu
Farming Sewage Pretreatment +
240 cubic Put into operation in August Running
Technology Co., treatment UASB + two-stage
meters/day 2021 normally
Ltd. Deyang system AO
Village Pig Farm
Qianwei Xinhao Sewage Pretreatment +
230 cubic Put into operation in April Running
Farming Co., Ltd. treatment UASB + two-stage
meters/day 2022 normally
Longhua Pig Farm system AO
Sewage Pretreatment +
240 cubic Put into operation in Running
treatment UASB + two-stage
meters/day December 2019 normally
Leshan New Hope system AO
Farming Co., Ltd. Sewage
Pretreatment + 70 cubic Running
treatment Put into operation in 2018
UASB + AO meters/day normally
system
Shaanxi Zhongshan
Sewage
Xingwang Farming Black membrane 120 cubic Running
treatment Put into operation in 2020
Technology Co., biogas meters/day normally
system
Ltd.
Sewage Pretreatment +
Yincheng Xinhao 480 cubic Put into operation in Running
treatment UASB + two-stage
Farming Co., Ltd. meters/day December 2020 normally
system AO
Zhengzhou
Quansheng Sewage Pretreatment +
235 cubic Put into operation in Running
Farming treatment UASB + two-stage
meters/day December 2020 normally
Technology Co., system AO
Ltd.
Sewage Pretreatment +
Yan’an Benyuan 400 cubic Running
treatment UASB + two-stage Put into operation in 2019
Agricultural meters/day normally
system AO
Technology
Sewage Pretreatment +
Development Co., 200 cubic Running
treatment UASB + two-stage Put into operation in 2018
Ltd. meters/day normally
system AO
Weinan Zhengneng
Farming Sewage
Black membrane 200 cubic Running
Technology Co., treatment Put into operation in 2019
biogas meters/day normally
Ltd. Heyang Xinliu system
Pig Farm
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Sewage Pretreatment +
500 cubic Running
treatment UASB + two-stage Put into operation in 2020
meters/day normally
system AO
Weinan Xinliu Sewage Pretreatment +
360 cubic Running
Technology Co., treatment UASB + two-stage Put into operation in 2021
meters/day normally
Ltd. system AO
Sewage Pretreatment +
500 cubic Running
treatment UASB + two-stage Put into operation in 2021
meters/day normally
system AO
Sewage Pretreatment +
510 cubic Put into operation in May Running
treatment UASB + two-stage
meters/day 2020 normally
Hubei Xinhao system AO
Farming Co., Ltd. Sewage Pretreatment +
570 cubic Put into operation in Running
treatment UASB + two-stage
meters/day October 2020 normally
system AO
Sewage Pretreatment +
Guang’an Xinhao 500 cubic Put into operation in Running
treatment UASB + two-stage
Farming Co., Ltd. meters/day January 2021 normally
system AO
Sewage Pretreatment +
650 cubic Put into operation in April Running
Ruzhou Quansheng treatment UASB + two-stage
meters/day 2021 normally
Farming system AO
Technology Co., Sewage Pretreatment +
480 cubic Put into operation in Running
Ltd. treatment UASB + two-stage
meters/day February 2022 normally
system AO
Pretreatment +
Xingren Xinliu
Sewage UASB + two-stage
Farming 160 cubic Put into operation in July Running
treatment AO +
Technology Co., meters/day 2021 normally
system physicochemical
Ltd.
precipitation
Heyang Zhenghe
Sewage
Modern Farming Pretreatment + 200 cubic Running
treatment Put into operation in 2019
Co., Ltd. Heyang UASB + AO meters/day normally
system
Pig Farm
Jiuzhi Farm of
Kangping Xinwang Sewage
Black membrane 250 cubic Put into operation in June Running
Farming Co., Ltd. treatment
biogas meters/day 2020 normally
In Beisanjiazi Sub- system
district, Kangping
Kangping Xinwang
Sewage
Farming Co., Ltd. Black membrane 500 cubic Put into operation in Running
treatment
Kangping biogas meters/day September 2020 normally
system
Xiaodong Branch
Kangping Xinwang
Farming Co., Ltd. Sewage
Black membrane 620 cubic Put into operation in Running
Kangping treatment
biogas meters/day November 2020 normally
Kangliuwang system
Branch
Kangping Xinwang
Farming Co., Ltd. Sewage
Black membrane 190 cubic Put into operation in Running
Kangping treatment
biogas meters/day January 2021 normally
Kangbawang system
Branch
Zhangwu Xinwang
Farming Co., Ltd. Sewage
Black membrane 420 cubic Put into operation in Running
Zhangwu treatment
biogas meters/day October 2020 normally
Zhangsiwang system
Branch
Zhangwu Xinwang
Farming Co., Ltd. Sewage
Black membrane 320 cubic Put into operation in Running
Zhangwu treatment
biogas meters/day October 2021 normally
Zhangqiwang system
Branch
Zhangwu Xinwang
Sewage
Farming Co., Ltd. Black membrane 390 cubic Put into operation in June Running
treatment
Zhangwu biogas meters/day 2021 normally
system
Zhangshiwang
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Branch
Sewage CSTR fully mixed
400 cubic Put into operation in Running
treatment anaerobic
meters/day December 2019 normally
system treatment
Sewage CSTR fully mixed
240 cubic Put into operation in Running
treatment anaerobic
Liaoning Xinwang meters/day November 2019 normally
system treatment
Technology Co.,
Sewage CSTR fully mixed
Ltd. 240 cubic Put into operation in Running
treatment anaerobic
meters/day December 2019 normally
system treatment
Sewage
Black membrane 240 cubic Put into operation in Running
treatment
biogas process meters/day December 2020 normally
system
Jiangyou New
Sewage
Hope Hypor Swine Pretreatment + 100 cubic Put into operation in Running
treatment
Breeding Co., Ltd. one-stage AO meters/day February 2008 normally
system
(Xiping Farm)
Chengdu Xinjin Sewage
UASB + 2-stage 250 cubic Put into operation in Running
Xinhao Farming treatment
AO meters/day October 2022 normally
Co., Ltd. system
Laibin New Hope
Sewage
Liuhe Farming UASB + 2-stage 530 cubic Put into operation in August Running
treatment
Technology Co., AO meters/day 2022 normally
system
Ltd.
II. Social responsibilities
(I) Implementation direction of social responsibility strategy
With the vigorous development and upsurge of ESG at home and abroad, the company actively responds to the ESG concept
under the guidance of national strategies such as green development, carbon peaking and carbon neutrality goals, rural
revitalization, and science and technology powers, comprehensively improves the ESG level, and explores the establishment of an
ESG governance system that is internationally accepted and encouraged by the government.
According to the social responsibility management vision of “rooted in society, returning to society, and becoming a reliable
force”, the company developed the implementation direction of the six social responsibility strategies, namely “adhering to long-
term doctrine in terms of corporate governance; protecting life with life as a people’s livelihood responsible enterprise; exploring
smart urban and rural areas with innovative technology; breeding beauty with hope to serve the society; feeding nature with
circular agriculture in green industry; and pursuing excellence with growth to help employees”, from the dimensions of
environment, society and corporate governance to continue to promote social responsibility activities.
(II) Summary of social responsibility fulfillment
1. Rural revitalization
During the reporting period, the company actively responded to the national strategic call, continued to promote the Fifth
Five-Year project for rural revitalization, in-depth development of 100,000 new farmers training, farm support model, agricultural
financial guarantee for assistance to agriculture and other projects, and joined hands with industry partners to jointly promote
talent revitalization, industrial prosperity, financial benefits to agriculture, ecological revitalization and digital countryside.
In terms of talent revitalization, the company got deeply involved in the “100,000 Green Collar New Farmers Training
Program” for rural revitalization, focusing on rural economic leaders including rural grass-roots administrators, rural industrial
operators, and new agricultural operators, to improve the “5+N” characteristic training system, explore the construction of a sound
rural revitalization talent cultivation system, and continue to carry out various training programs featuring rural revitalization, such
as industrial training. By the end of June 2023, the company has completed 2,127 offline trainings in 25 provinces, 128 cities and
332 counties/districts, involving more than 83,800 participants; 13.69 million people received online training.
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In terms of financial assistance to agriculture, the company’s rural financial business focuses on improving customer service
capabilities and accelerating the online, digital and modular business development. It steadily promotes the credit system
framework, business process and preliminary data testing of the second-generation credit information system of the People’s Bank
of China, providing faster and more convenient business services for rural users with good credit information records. The self-
developed guaranteed business system V2.0 has been put into operation, which further promoted product standardization and
online business process, improved lending efficiency and improved customer experience. The function of the approval risk control
module is strengthened to form a multi-dimensional business approval model, which can not only effectively control business risks,
but also improve service efficiency. During the reporting period, a total of 6,557 customers were served for a total of 182,300
times to raise 3.5 billion yuan.
In terms of industrial revitalization, the company launched the pig farm support model for the breeding pain points to help the
modernization of large-scale pig farms. Eight supporting services are provided to farmers, including piglet procurement, nutrition
program, financial support, disease prevention and control, pig insurance, animal protection services, breeding technology, pig
selling services, realizing “small-risk, high-benefit, and worry-free breeding” for pig farmers.
The company launched “Jian Zhu Bang”, a production data management software for large-scale pig farms, to promote the
digital breeding development and enrich the rural digital ecology. This software takes the production cost accounting of pig farms
as the core, and the accounting data is scientific, reasonable and accurate, which embodies the national norms and covers the
industry standards, providing pig farm managers with “digital production indicators, visual production data, and precious
application management”, which can comprehensively help pig farms improve production data and further increase efficiency and
reduce costs.
2. Public welfare and charity
Actively practicing corporate social responsibility, and sharing development results with the community, the company built a
special public welfare platform to develop special public welfare projects and carry out public welfare volunteer activities for
children, students and people in remote mountainous areas, old revolutionary base areas and other places. In May, the company
launched the “Wish Program” for the eighth consecutive year, and dozens of volunteers, as representatives, went to seven schools
in Sichuan, Shandong, Liaoning and other provinces, giving Children’s Day gifts to 1,549 children to help them realize their good
wishes. In February, when Chinese rescue team rushed to the earthquake-stricken areas in Turkey, New Hope Turkey became the
temporary office, material collection base and supply station of the rescue team, and overcame difficulties to provide material
procurement and turnover support, which solved the worries of the Chinese rescue force. During the reporting period, the
company’s charity donations involving rural revitalization, environmental protection, education and other categories totaled
5,393,488.48 yuan.
3. Green and low-carbon
The company actively implements the national dual-carbon strategy, actively promotes photovoltaic projects in feed, food
and other high-power consumption businesses to increase the proportion of green electricity, promotes manure anaerobic treatment
and biogas reuse in the pig industry, and develops wheat, vegetables and grass planting in consumption sites, to vigorously
promote the company’s overall energy saving and carbon reduction with multiple measures and multi-pronged approaches.
In terms of green electricity utilization, by the end of June 2023, the total installed capacity of grid-connected power
generation photovoltaic projects completed by the company was 15.31MW, and the photovoltaic power generation in the first half
of 2023 was about 7 million KWH, reducing CO2 emissions by about 6,900 tons.
In terms of livestock and poultry manure treatment, 100% of pig business waste of the company were harmless treated, with a
total of about 7.16 million tons of sewage and 130,000 tons of pig manure treated in the first half of the year. Biogas is produced
by anaerobic fermentation of sewage for power generation or internal heating, and CH4 emission of pig manure is reduced after
aerobic composting, reducing CO2 emissions by about 520,000 tons during the reporting period
In terms of biological carbon sequestration, the pig business of the company made efficient use of 138,500 mu of
consumption land, of which 62,500 mu were planted with wheat, vegetables, grass and other crops, and the remaining were
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planted with apple, orange and other fruit trees, realizing biological carbon sequestration during the period with indirect reduction
of about 80,000 tons of CO2.
In addition, the company actively explored the development of carbon assets. In the first half of 2023, the International
Certified Voluntary Carbon Standard (VCS) project of Kangping Xinwang Farming Co., Ltd., a subsidiary of the company,
obtained about 308,000 tons of carbon emission reduction quota granted by the official platform of VERRA. Through carbon
market trading, Kangping Xinwang Farming Co., Ltd. gained 3.426 million yuan, achieving a win-win situation of environmental
protection and economic benefits.
4. Staff development
In the first half of 2023, the company promoted the visual talent training from the three aspects of grasping the core, laying
the foundation and accurately empowering, and built the company’s talent pool.
In terms of precise empowerment of core cadres, it realized digital and visual training of new cadres in transition period,
management-oriented cognitive rotation training for general managers, and training of high-potential cadres, with coach integrated
into grassroots performance improvement and middle and senior leadership construction; consolidated the foundation of talent
training, built a learning organizational atmosphere, focusing on the implementation of internal trainer system and improving the
quality and service rate of course development, carried out the construction of digital platform content, training administrators to
cover business terminals, and created high-quality knowledge sharing IP to improve coverage and organizational influence;
empowered the professional cadre system to recreate the DNA of organizational advantages, improving the efficiency and
effectiveness of professional sequence talent training along with the post and job upgrading, building a learning path map for
professional sequence, and shorteningthe talent training cycle.
During the reporting period, nine major porgrams were carried out in three major categories, as follows.
(1) Precise empowerment of core cadres
Integration of new employees in social recruitment: based on the demands of new employees in social recruitment for “rapid
integration and value creation”, relying on the training program promoted by the online platform of New Hope Academy, timely
and comprehensively help new colleagues in social recruitment to understand the company, integrate into the company and create
value. The training covers the whole industry. As of the end of June, a total of 4 training sessions were carried out, with a total of
287 people trained.
Elite program: help middle-level backbone to complete the transformation of positioning and restructure management ability.
A total of 2 classes were open, training 996 people. A special high-potential cadre class (offline) for high-potential managers were
set focusing on the five management cores of time management, correct contribution, staffing for strength, first things first, and
effective decision-making, to train management ability and instill management with efficiency awareness, helping high-potential
managers transform from qualified team managers to high-performance managers. The number of people trained is 40.
Talent program: in the first half of the year, a total of 239 general managers finished online learning on the digital platform
for a total of about 600 class hours. On the basis of online learning, 181 selected high-potential cadres received a total of 3,800
class hours of offline tutoring. At the same time, according to the demand, four new general manager Talent classes were set up
for 110 students in industrial and functional lines, to help general managers improve their leadership ability and solve practical
challenges by combining online micro-class learning with offline training.
EMBA for farming industry: in the first half of 2023, a total of 9 course activities were carried out, covering 5 classes, and
206 senior farming management managers were trained through the ten training aspects of leadership, business model and
corporate governance, financial management, strategic marketing, digital transformation, corporate culture, etc.
Leadership coaching center: with the mission of developing leadership, stimulating combat effectiveness and expanding
influence, it strives to improve the inner state of leaders and employee engagement; make communication more powerful, enhance
the ability of collaborative combat, and build a coaching ecology to support the long-term development of the organization. It
presented “Coach Talk” live streaming with 931 views, coach reading club with 997 participants and coaching camp with 30
participants.
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(2) Talent training base
Smart sharing platform: it is committed to strengthening the construction of internal lecturers, promoting internal knowledge
precipitation and sharing, and creating a learning organization. The emphasis is put on the quality of course development,
strengthening the teaching ability of internal lecturers, and enhancing the platform management and operation. In the first half of
the year, it developed a set of internal lecturer empowerment and certification standards, organized a session of internal lecturer
training for 35 trainees, and collaborated with the industry to grant certification for 15 internal lecturers, with 15 internal courses
accumulated.
Digital learning platform: it deeply gets involved in vertical business to empower 200+ business learning platform
administrators and create an excellent training management team that knows how to design, to operate and to implement in the
digital era; it connects with the daily office system, embedding learning into work scenarios, promoting employees to develop
digital learning habits, establishing personal learning files, and promoting the construction of learning organizations.
“Glittering Sharer” and “Warrior Talk”: knowledge IP programs that are based on the two major trends of digital learning
and knowledge sharing and are welcomed and loved by employees.
The “Warrior Talk” aims to excavate the practical management experience in line with the actual situation in the organization,
which can be replicated across industries and has been repeatedly verified and effective, so that the successful experience can be
circulated within the organization and provide managers with more reliable problem solving ideas.
The “Glittering Sharer” finds positive people and stories within the organization, shares personal experiences, career stories,
etc., and inspires more peers to work together around the organization’s goals.
Up to now, 7 videos of the “Warrior Talk” and 6 videos of the “Glittering Sharer” has been released, with a total of more than
370,000 views. In the future, the two IPs will continue to complement the company’s talent training and development programs,
creating a three-dimensional learning organizational atmosphere.
(3) Precise empowerment of professional cadres
Food marketing force program: it focuses on key positions in the value chain, builds business maps and learning maps by
organizing experts to work together, and develops customized courses based on key tasks to help employees accelerate their
competency. It helps the sales team to focus on the training of core tasks in business transformation, and design food marketing
sequence learning path map development plan to improve the efficiency of talent training for sales directors, city managers and
regional managers.
In the first half of the year, business expert team were led to sort out the key tasks, work processes, competency standards and
learning maps of 2 positions in the food marketing sequence, with 2 professional courses independently developed, 8 internal
trainers trained, and three rounds of rotation training completed in Wuhan, Sichuan and Chongqing, covering more than 100 sales
talents.
5. Digital transformation
The company continues to promote the integration of business and digital technology around the “three and four” strategic
goal under the “integration of business and data management”. Through the establishment of an efficient closed-loop management
system, the real-time control and utilization of data are enhanced, and resource allocation and business operations are optimized.
At present, the company’s digital construction has been further promoted, covering six major scenes of procurement, logistics,
warehousing, breeding, production, and research and development, providing strong support for improving business efficiency,
reducing costs, enhancing the company’s market competitive advantage, and helping the digital transformation of industrial
ecology.
(1) Xinsu project has covered the raw material centralizled procurement and local procurement business of all 219 domestic
feed branches and subsidiaries and 6 supply chain commercial trading companies, and realized the full digital online operation of
procurement contracts, procurement execution and settlement.
(2) The digital logistics platform has been officially put into trial operation in domestic companies, covering 53 feed
companies, involving a variety of transportation modes such as truck, railway, river, ocean and container. The collaborative work
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of raw material suppliers, carriers, drivers and internal managers has achieved a breakthrough in the company’s digital logistics
system from 0 to 1.
(3) The self-developed Yunge WMS system has completed the pilot launch for food business, covering 3 pilot food factories,
enabling the business to achieve accurate and efficient storage management.
(4) The lighthouse project has been commissioned, and the feed control function has been verified and promoted, covering
129 companies and 383 production lines; the automatic control ability of environment, material line and skip weighing, and the
intelligent acquisition and evaluation of production, flow regulation and immune data are being promoted in an orderly manner.
The project strives to build a bridgehead for the company’s pig breeding information construction through the cycle of problem
finding, functional pilot, replication and promotion.
(5) The fattening plan operation system has been officially launched and put into operation, and through the closed-loop of
planning-work order - execution-early warning, it achieves “knowing what to do, doing what should be done, action quality
monitoring, and timely correction”. It can promote the full linkage among the interline medication, sales, piglet circulation and
other links with plans, track and standardize the key tasks of the whole fattening process through work orders, and change the
previous post-review management to timely perception and timely intervention management of key issues and key nodes through
early warning.
(6) The EBS core system covers the whole industry and supports business scenarios of 700+ branches and subsidiaries, which
is the base of the company’s digital business system. In the first half of 2023, the EBS system infrastructure and application layer
were optimized in all dimensions, and the system security was enhanced. The upgraded system platform is more secure and stable,
providing more efficient technical support and guarantee services for the company to achieve the strategic goal of digital business
transformation and integration of business and data management.
(III) Social appraisal
The company pays attention to taking root in the industry, has the courage to take responsibility, is willing to repay the
society, and has obtained a good social reputation. During the reporting period, the company was listed in the Forbes Global 2000,
Fortune China’s Top 500 listed companies, and won the New Fortune Best Listed Company, Top 10 International Brand
Enterprises in the livestock industry and other honors. In the field of social responsibility, the company won the Most Socially
Responsible Listed Company, 2022 China’s Top 500 Enterprise Charity Companies, ESG New Benchmark Enterprise Award,
Food Safety Science and Technology Innovation Award, and Fuxi Cup Science and Technology Progress Award. In terms of
talent development, the company responded to the call to support the army and benefit the army, and was selected to the Honor
List of 2022 National Veterans Employment Cooperation Enterprises. Focusing on the training of backbone talents and skilled
talents, the Food Business Operation Center of Yangling Besun Agricultural Industry Group under the company won the honor of
“National Worker Pioneer”.
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Section 6 Important Matters
1. Commitments fulfilled within the reporting period and not yet fulfilled beyond the time
limit as at the end of the reporting period by actual controller, shareholder, related party,
acquirer and corporate and other commitment-related parties of the company
applicable □not applicable
Period
Time of Fulfi
Cause of Party Type of of
Content of commitment commitme llme
commitment concerned commitment comm
nt nt
itment
New Hope Group Co., Ltd. will not list
for trading or transfer its shares within 36
months of acquisition of the circulation
right. Upon the expiration of the aforesaid
lockup period, the formerly non-tradable
shares may be listed for sale at a price of
no less than 6.8 yuan only when the
company’s stock closing price exceeds Com
Share
New Hope 6.8 yuan for any consecutive 5 trading mitm
Share reform reduction Jan. 19,
Group Co., days. The prices of the aforesaid shares None ents
commitments commitment 2006
Ltd. offered for sale may be adjusted hono
s
accordingly when the company red
implements profit distribution, conversion
of capital reserve to share capital,
additional issue of new shares, shares
allotment, conversion of convertible
bonds into shares or shareholding
reduction in the same ratio by all
shareholders.
Commitments
made in acquisition Non
None None None None None
reports or equity e
change reports
In order to preserve the legitimate rights
and interests of the company after
significant asset reorganization, the
aforesaid shareholders undertake that the
covenanters currently are not directly or
Commitmen
indirectly engaged in any business
ts regarding
New Hope activities that constitute horizontal
horizontal
Group Co., competition with the business conducted Com
competition,
Commitment made Ltd.; South by the listed company; while the mitm
related- Dec. 31,
at the time of asset Hope covenanters actually control the listed None ents
party 2010
reorganization Industrial Co. company, the covenanters and other hono
transactions
Ltd.; Liu companies (except for listed companies) red
and
Yonghao controlled by them will not directly or
occupation
indirectly engage in any business
of funds
activities that constitute horizontal
competition with the business conducted
by the listed company, nor engage in any
activities that might damage the interests
of the listed company.
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
In order to reduce and regulate the
possible related-party transactions of the
company after significant asset
reorganization, the aforesaid shareholders
undertake that they will avoid or reduce
related-party transactions with the listed
company and its subsidiaries whenever
possible; execute standard-compliant
related-party transaction agreements with
the listed company with respect to
related-party transactions that cannot be
avoided or have reason to exist and
Commitmen
perform approval procedure according to
ts regarding
the applicable laws, regulations, rules and
New Hope horizontal
other normative documents and the Com
Group Co., competition,
Commitment made articles of association, whereby the prices mitm
Ltd.; South related- Dec. 31,
at the time of asset of related-party transactions will be None ents
Hope party 2010
reorganization determined according to the prices when hono
Industrial Co. transactions
the same or similar transactions are red
Ltd. and
conducted with independent third parties
occupation
without related-party relationship in order
of funds
to ensure prices of related-party
transactions are fair; undertake to perform
the information disclosure obligations for
related-party transactions according to
applicable laws, regulations and articles
of association; undertake not to illegally
transfer funds or profits of the listed
company through related-party
transactions or jeopardize the interests of
the listed company and its non-related
shareholders through related-party
transactions.
When holding shares/equities in the listed
company and Yangling Besun:
1. We, our close family members
(including spouse, parents, parents-in-
law, siblings and their spouses, children
aged above 18 and their spouses, siblings-
Gao Zhanhe;
in-law and parents-in-law, the same
Yan Junfang;
below) and companies controlled
Yan Suifang; Commitmen
(directly or indirectly) by us and our close
Yangling ts regarding
family members have not and will not
Fengyi Equity horizontal
directly or indirectly engage in any Com
Investment competition,
Commitment made activities that constitute horizontal mitm
Management related- Dec. 28,
at the time of asset competition with the swine breeding, pig None ents
Center (LP); party 2016
reorganization farming, slaughtering, processing and hono
Yangling transactions
feed production businesses (hereinafter, red
Xiangyuan and
“main business of the listed company”)
Equity occupation
that the listed company and its majority-
Investment of funds
owned subsidiaries mainly conduct in any
Management
manner.
Center (LP)
2. With respect to wholly-owned
companies and directly or indirectly
majority-owned companies controlled by
us and our close family members, we and
our close family members will cause such
companies to perform the same
172
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
obligations in this letter of commitments
as ours through appointed agencies and
personnel (including but not limited to
directors and managers) and exercise of
the majority-owned status and undertake
not to incur horizontal competition with
the main business of the listed company.
If we, our close family members or
companies controlled by us or our close
family members have any business
opportunities to engage or participate in
any activities that might compete with the
main business of the listed company, the
listed company will be immediately
notified of the aforesaid business
opportunities, and we will make the
utmost effort to give such business
opportunities to the listed company
during the reasonable period specified in
the notice if the listed company makes a
positive reply expressing its willingness
to utilize such business opportunities.
4. We acknowledge that each and every
commitment indicated in this letter of
commitments is independently
enforceable commitment and any
commitment that is held to be invalid or
terminated will not affect the validity of
all remaining commitments; in case of
violation of any of the aforesaid
commitments, we will bear the direct or
indirect economic losses and damages so
caused to the listed company and the
costs and expenses in connection
therewith.
During the period in which we hold
shares/equities in the listed company and
Yangling Besun and we or our affiliates
are defined as related parties of the listed
company and its majority-owned
Gao Zhanhe;
subsidiaries as specified by the securities
Yan Junfang;
regulatory rules:
Yan Suifang; Commitmen
1. with respect to the related-party
Yangling ts regarding
transactions already existing and
Fengyi Equity horizontal
unavoidable in the future between us and Com
Investment competition,
Commitment made companies controlled by us (if any) and mitm
Management related- Dec. 28,
at the time of asset the listed company and its majority- None ents
Center (LP); party 2016
reorganization owned subsidiaries, we undertake to hono
Yangling transactions
follow the arm’s length principle of red
Xiangyuan and
market transaction, i.e., normal
Equity occupation
commercial terms, to make transactions
Investment of funds
with the listed company and its majority-
Management
owned subsidiaries. If we failed to make
Center (LP)
any transactions with the listed company
and its majority-owned subsidiaries
according to the arm’s length principle of
market transaction, causing losses or
having caused losses to the listed
173
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
company and its majority-owned
subsidiaries, we will be liable for
indemnification.
2. We will perform in good faith the
obligations as shareholders of the listed
company, fully respect the independent
status of legal person of the listed
company and safeguard the independent
operation and autonomous decision
making of the listed company. We will
cause directors of the listed company
nominated by us (if any) to perform their
duty of faith and diligence according to
law in strict accordance with the
Company Law of China and the articles of
association of the listed company.
3. We and our affiliates undertake not to
occupy any funds of the listed company
by means of borrowings, debt service,
advance or otherwise or require the listed
company provide any illegal guarantees
for the benefit of us and our affiliates.
4. If the listed company has to incur
unavoidable related-party transactions
with us or any of our affiliates in its
future business activities, we will cause
such transactions to perform related
procedures strictly according to the
applicable Chinese laws and regulations,
articles of association of the listed
company and related rules of the listed
company, and we will strictly perform the
obligation not to vote when the general
meetings of the listed company vote on
related-party transactions; execute
agreements with the listed company and
timely conduct information disclosure
according to law; guarantee that such
transactions will be conducted according
to normal commercial conditions and I
and my affiliates will not require, or
accept, the listed companies to offer any
conditions more favorable than those
offered to third parties in any arm’s
length transaction, and undertake not to
jeopardize the legitimate rights and
interests of the listed company and other
shareholders through related-party
transaction.
5. We and our affiliates will strictly and
in good faith perform various related-
party transaction agreements signed with
the listed company. We and our affiliates
will not seek from the listed company any
interests or benefits beyond those set
forth in the aforesaid agreements.
Non
Commitments None None None None None
e
174
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
made at the time of
IPO or refinancing
Equity incentive Non
None None None None None
commitments e
Other commitments
made to minority Non
None None None None None
shareholders of the e
company
Non
Other commitments None None None None None
e
Whether the
commitments were Yes
performed on time
If commitments
were not performed
and completed
within the time
limit, specify the Not applicable
reasons for the
failure to complete
performance and
the next work plan
II. Occupation of non-operating funds of the listed company by the controlling shareholder
or its related parties
□applicable not applicable
The company had no occupation of non-operating funds of the listed company by the controlling shareholder or its related parties
during the reporting period.
III. Illegal external guarantees
□applicable not applicable
The company had no illegal external guarantees during the reporting period.
IV. Appointment and dismissal of accounting firm
Whether the semiannual financial report has been audited
□yes no
The company’s semiannual report is not audited.
V. Remarks of the board of directors and board of supervisors on the “nonstandard
auditor’s report” issued by the accounting firm for this reporting period
□applicable not applicable
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
VI. Remarks of the board of directors on details related to the “nonstandard auditor’s
report” for the previous year
□applicable not applicable
VII. Bankruptcy reorganization related matters
□applicable not applicable
No bankruptcy reorganization matters occurred in the company during the reporting period.
VIII. Litigations
Major litigations and arbitrations
□applicable not applicable
The company was not involved in major litigations or arbitrations during the reporting period.
Other litigations
□applicable not applicable
IX. Penalties and rectifications
□applicable not applicable
X. Status of integrity of the company and its controlling shareholder and actual controller
□applicable not applicable
XI. Significant related-party transactions
1. Related-party transactions related to daily operations
□applicable not applicable
The company had no related-party transactions related to daily operations during the reporting period.
2. Related-party transactions arising from acquisition or sale of assets or equity
□applicable not applicable
The company had no related-party transactions arising from acquisition or sale of assets or equity during the reporting period
3. Related-party transactions arising from joint external investment
□applicable not applicable
The company had no related-party transactions arising from joint external investment during the reporting period.
4. Dealings of financial claims and debts with related parties
□applicable not applicable
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
The company had no dealings of financial claims or debts with related parties during the reporting period.
5. Dealings with finance companies affiliated with the company
applicable □not applicable
Deposit business
Relate Daily Current amount
Beginning
d- maximum Range of Total current Total current Ending
balance
Related party party deposit limit deposit deposited withdrawn balance
(10,000
relatio (10,000 interest rate amount (10,000 amount (10,000 (10,000 yuan)
yuan)
nship yuan) yuan) yuan)
New Hope
Affilia
Finance Co., 1,000,000 0.35%-4.07% 695,020.11 63,790,969.15 63,992,365.6 493,623.66
te
Ltd.
Loan business
Current amount
Beginning Total current Ending
Loan limit Range of Total current
Related-party balance repaid balance
Related party (10,000 loan interest loan amount
relationship (10,000 amount (10,000
yuan) rate (10,000
yuan) (10,000 yuan)
yuan)
yuan)
New Hope
Finance Co., Affiliate 5,500 3.2%-4% 3,430 1,930 1,290 4,070
Ltd.
Credit or other financial business
Related-party Total amount (10,000 Actually incurred
Related party Business type
relationship yuan) amount (10,000 yuan)
New Hope Finance Other financial
Affiliate 404,091.52 445,501.4
Co., Ltd. business
6. Dealings between finance companies controlled by the company and related parties
□applicable not applicable
There was no deposit, loan, credit or other financial business between finance companies controlled by the company and related
parties.
7. Other significant related-party transactions
□applicable not applicable
The company had no other significant related-party transactions during the reporting period.
XII. Significant contracts and their performance
1. Trusteeship, contracting and leasing matters
(1) Trusteeship
□applicable not applicable
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
The company had no trusteeship during the reporting period.
(2) Contracting
□applicable not applicable
The company had no contracting during the reporting period.
(3) Leasing
□applicable not applicable
The company had no leasing during the reporting period.
2. Significant guarantees
applicable □not applicable
Unit: 10,000 yuan
External guarantees provided by the company and its subsidiaries (excluding guarantees provided for subsidiaries)
Date of Whe
disclosure Count Wheth ther
Name of
of related Guarant Date Amount Type of Collat er Guarant er relat
guarantee
announceme eed actually actually guarante erals(i guaran ee fully ed-
beneficiar
nt of amount incurred guaranteed e f any) tee (if period perfor party
y
guaranteed any) med guar
amount antee
Chengdu
Tianfu Joint
Xingxinxi and
n Jan. 14, Jan. 16, several 2558
24,000 20,773.29 None None No Yes
Farming 2023 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Joint
Rong
and
County
Oct. 25, Mar. 12, several 3175
Xinmu 25,300 23,500 None None No Yes
2019 2020 liability days
Farming
guarante
Co., Ltd.
e
Anyue Joint
New and
Hope Apr. 29, May 19, several 2191
15,250 3,317.14 None None No Yes
Liuhe 2020 2021 liability days
Farming guarante
Co., Ltd. e
Yanyuan Joint
Xinliu and
Farming May 29, Jun. 15, several 3604
34,000 19,000 None None No Yes
Technolo 2021 2021 liability days
gy Co., guarante
Ltd. e
Chengdu Joint
Feb. 22, 295
Dekang Jun. 1, 2022 50,000 19,159.37 and None None No No
2023 days
Animal several
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Health liability
Technolo guarante
gy e
Service
Co., Ltd.
Total amount of
Total amount of external
external guarantee
guarantee approved
24,000 actually incurred during 39,932.66
during the reporting
the reporting period
period (A1)
(A2)
Total amount of external Total balance of actual
guarantee approved by external guarantee at the
148,550 85,749.8
the end of the reporting end of the reporting
period (A3) period (A4)
Guarantees provided by the company for its subsidiaries
Date of Whe
disclosure Count Wheth ther
Name of
of related Guarant Date Amount Type of Collat er Guarant er relat
guarantee
announceme eed actually actually guarante erals(i guaran ee fully ed-
beneficiar
nt of amount incurred guaranteed e f any) tee (if period perfor party
y
guaranteed any) med guar
amount antee
Joint
Anyang
and
Xinliu
Apr. 29, Apr. 08, several 2302
Technolo 10,000 8,000 None None No Yes
2020 2021 liability days
gy Co.,
guarante
Ltd.
e
Joint
Anyang
and
Xinliu
Apr. 29, Jan. 20, several 2380
Technolo 10,000 8,000 None None No Yes
2020 2021 liability days
gy Co.,
guarante
Ltd.
e
Joint
Beijing and
Kinghey Apr. 29, Jun. 12, several 1825
30,000 3,712.71 None None No Yes
Food Co., 2020 2020 liability days
Ltd. guarante
e
Beijing Joint
Xinliu and
Farming May 29, Jun. 25, several 4017
4,010.85 2,431.62 None None No Yes
Technolo 2021 2021 liability days
gy Co., guarante
Ltd. e
Beijing Joint
Xinliu and
Farming Apr. 29, 28,989.1 Jun. 30, several 2908
17,575 None None No Yes
Technolo 2020 5 2020 liability days
gy Co., guarante
Ltd. e
Bijie Joint
Xinliu Apr. 29, May 19, and 3286
10,600 7,920 None None No Yes
Farming 2020 2020 several days
Co., Ltd. liability
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
guarante
e
Joint
Cao
and
County
Oct. 25, Apr. 28, several 1817
Xinhao 25,000 18,999.69 None None No Yes
2019 2020 liability days
Farming
guarante
Co., Ltd.
e
Joint
Chenzhou and
Xinhao Oct. 25, Apr. 15, several 3285
65,000 30,187.5 None None No Yes
Farming 2019 2020 liability days
Co., Ltd. guarante
e
Joint
Chengdu
and
Xinjin
Dec. 28, several 2915
Xinhao Jun. 1, 2022 13,500 11,125.75 None None No Yes
2022 liability days
Farming
guarante
Co., Ltd.
e
Joint
Dacheng
and
Xinhao
May 29, Jul. 23, several 3223
Technolo 6,800 5,960 None None No Yes
2021 2021 liability days
gy Co.,
guarante
Ltd.
e
Joint
Shan
and
County
Apr. 29, Jan. 08, several 1814
Xinhao 15,000 9,247.5 None None No Yes
2020 2021 liability days
Farming
guarante
Co., Ltd.
e
Dong’e
Joint
New
and
Hope
Apr. 29, May 22, several 1825
Liuhe 16,800 11,200 None None No Yes
2020 2020 liability days
Swine
guarante
Breeding
e
Co., Ltd.
Joint
Donghai
and
Xinhao
Apr. 29, Aug. 18, several 1825
Modern 20,000 10,000 None None No Yes
2020 2020 liability days
Farming
guarante
Co., Ltd.
e
Joint
Dongying
and
Xinhao
Apr. 29, Dec. 1, several 1818
Modern 24,000 16,800 None None No Yes
2020 2020 liability days
Farming
guarante
Co., Ltd.
e
Joint
Dongying
and
Xinhao
Apr. 29, Dec. 29, several 1790
Modern 24,000 16,800 None None No Yes
2020 2020 liability days
Farming
guarante
Co., Ltd.
e
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Fuping Joint
Xinliu and
Farming Apr. 29, Nov. 12, several 3111
8,300 6,750 None None No Yes
Technolo 2020 2020 liability days
gy Co., guarante
Ltd. e
Joint
Fuxin and
Liuhe Mar. 28, several 354
Jun. 1, 2022 30,000 10,000 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Gansu Joint
New and
Hope Apr. 29, Jun. 29, several 2547
28,700 10,499.66 None None No Yes
Liuhe 2020 2020 liability days
Farming guarante
Co., Ltd. e
Joint
Gaotang
and
County
Apr. 29, 20,495.8 Aug. 13, several 1843
Xinhao 4,401.71 None None No Yes
2020 8 2020 liability days
Farming
guarante
Co., Ltd.
e
Joint
Gaotang
and
County
Apr. 29, 22,504.1 Jul. 08, several 2190
Xinhao 4,833 None None No Yes
2020 2 2020 liability days
Farming
guarante
Co., Ltd.
e
Joint
Guanling and
Xinmu Apr. 29, Oct. 29, several 3651
25,000 10,888 None None No Yes
Breeding 2020 2020 liability days
Co., Ltd. guarante
e
Joint
Guang’an and
Xinhao Apr. 29, Apr. 23, several 3232
45,000 31,322.24 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Guangdo Joint
ng Jiahao and
Agricultu Dec. 23, several 362
Jun. 1, 2022 40,000 3,000 None None No Yes
ral 2022 liability days
Products guarante
Co., Ltd. e
Joint
Guangyua and
n Xinchi Apr. 29, Mar. 16, several 3651
5,800 5,800 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Guangyua Joint
Apr. 29, Jun. 30, 3650
n Xinhao 69,000 39,420 and None None No Yes
2020 2020 days
Agricultu several
181
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
ral liability
Develop guarante
ment Co., e
Ltd.
Joint
Guangzho and
u Liuhe 15,463.9 Jan. 06, several 364
Jun. 1, 2022 5,000 None None No Yes
Feed Co., 2 2023 liability days
Ltd. guarante
e
Joint
Guangzho and
u Liuhe May 23, 14,536.0 Jun. 27, several 364
4,700 None None No Yes
Feed Co., 2023 8 2023 liability days
Ltd. guarante
e
Guigang Joint
Xinliu and
Farming Apr. 29, Mar. 12, several 3501
19,900 17,910 None None No Yes
Technolo 2020 2021 liability days
gy Co., guarante
Ltd. e
Hainan Joint
Chengmai and
New Apr. 29, 18,461.5 Oct. 30, several 1087
3,000 None None No Yes
Hope 2020 4 2020 liability days
Farming guarante
Co., Ltd. e
Hainan Joint
Chengmai and
New 11,538.4 Mar. 23, several 481
Jun. 1, 2022 5,000 None None No Yes
Hope 6 2023 liability days
Farming guarante
Co., Ltd. e
Joint
Hainan
and
Lingao
Oct. 25, Mar. 27, several 2064
Xinliu 10,400 4,500 None None No Yes
2019 2020 liability days
Breeding
guarante
Co., Ltd.
e
Joint
Hebei
and
Kinghey
Jul. 29, several 1095
Meat Jun. 1, 2022 23,000 19,950 None None No Yes
2022 liability days
Industry
guarante
Co., Ltd.
e
Hebei
Xinhao Joint
Fucheng and
Agricultu Apr. 29, Jun. 30, several 2922
26,500 18,346 None None No Yes
ral 2020 2020 liability days
Technolo guarante
gy Co., e
Ltd.
Hezhou Joint
Oct. 25, Apr. 15, 3650
Xinhao 53,000 26,250 and None None No Yes
2019 2020 days
Farming several
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Co., Ltd. liability
guarante
e
Heishan Joint
Xinliu and
Farming Apr. 29, Feb. 23, several 1091
15,000 12,500 None None No Yes
Technolo 2020 2021 liability days
gy Co., guarante
Ltd. e
Hengnan
Joint
County
and
Muyun
Apr. 29, May 19, several 3286
Eco- 23,000 10,500 None None No Yes
2020 2020 liability days
agricultur
guarante
e Co.,
e
Ltd.
Hengshui Joint
Jizhou and
District May 29, Jan. 20, several 2703
12,400 11,080 None None No Yes
Xinhao 2021 2022 liability days
Farming guarante
Co., Ltd. e
Joint
Hengyang and
Xinhao Apr. 29, Nov. 2, several 1821
18,000 5,537.83 None None No Yes
Farming 2020 2020 liability days
Co., Ltd. guarante
e
Hubei Joint
Tuanfeng and
New Mar. 17, several 366
Jun. 1, 2022 7,000 1,000 None None No Yes
Hope 2023 liability days
Feed Co., guarante
Ltd. e
Joint
Hubei and
Xinhao Apr. 29, 38,600.4 several 2905
Oct. 9, 2020 37,035 None None No Yes
Farming 2020 9 liability days
Co., Ltd. guarante
e
Joint
Hubei and
Xinhao Apr. 29, 18,599.5 May 28, several 2555
17,845.18 None None No Yes
Farming 2020 1 2020 liability days
Co., Ltd. guarante
e
Huanggan
Joint
g New
and
Hope
Mar. 06, several 366
Feed Jun. 1, 2022 15,000 1,000 None None No Yes
2023 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Jiaxiang Joint
New Apr. 29, Jun. 24, and 1447
14,000 1,400 None None No Yes
Hope 2020 2020 several days
Liuhe liability
183
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Swine guarante
Breeding e
Co., Ltd.
Joint
Jiangmen and
Liuhe May 29, 12,804.8 Apr. 07, several 1299
9,450 None None No Yes
Feed Co., 2021 8 2022 liability days
Ltd. guarante
e
Joint
Jiangmen and
Liuhe Apr. 29, 12,195.1 Mar. 26, several 1095
9,000 None None No Yes
Feed Co., 2020 2 2021 liability days
Ltd. guarante
e
Jiangxi
New Joint
Hope and
Liuhe Apr. 29, May 10, several 1631
21,700 13,562.5 None None No Yes
Farming 2020 2021 liability days
Technolo guarante
gy Co., e
Ltd.
Jiangxi
Joint
New
and
Hope
Oct. 11, several 346
Farming Jun. 1, 2022 10,000 5,000 None None No Yes
2022 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Julu Joint
Xinliu and
Farming Apr. 29, May 19, several 1825
20,000 5,065 None None No Yes
Technolo 2020 2021 liability days
gy Co., guarante
Ltd. e
Joint
Juye and
Xinhao Apr. 29, Jul. 09, several 2539
26,000 17,500 None None No Yes
Farming 2020 2020 liability days
Co., Ltd. guarante
e
Joint
Kangping and
Xinwang Apr. 29, 32,445.9 Feb. 18, several 1812
17,499.75 None None No Yes
Farming 2020 2 2021 liability days
Co., Ltd. guarante
e
Joint
Kangping and
Xinwang Apr. 29, Feb. 23, several 1091
1,854.08 1,000 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Kunming Joint
Mar. 10, 366
New Jun. 1, 2022 15,000 1,000 and None None No Yes
2023 days
Hope several
184
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Animal liability
Nutritious guarante
Food Co., e
Ltd.
Kunming
New Joint
Hope and
Agricultu Aug. 15, several 361
Jun. 1, 2022 2,500 1,000 None None No Yes
ral 2022 liability days
Technolo guarante
gy Co., e
Ltd.
Kunming
New Joint
Hope and
Agricultu May 23, Jun. 30, several 363
5,000 2,000 None None No Yes
ral 2023 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Kunming
New Joint
Hope and
Agricultu Mar. 10, several 366
Jun. 1, 2022 2,500 1,000 None None No Yes
ral 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Joint
Laibin and
Xinhao Apr. 29, Mar. 05, several 1826
40,800 23,200 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Laiwu Joint
New and
Hope Apr. 12, several 366
Jun. 1, 2022 15,000 1,000 None None No Yes
Liuhe 2023 liability days
Food Co., guarante
Ltd. e
Laixi Joint
New and
Hope Apr. 29, 20,352.9 Jun. 28, several 3572
14,032.38 None None No Yes
Liuhe 2020 1 2020 liability days
Farming guarante
Co., Ltd. e
Laixi Joint
New and
Hope May 29, 72,376.1 May 31, several 1096
49,900 None None No Yes
Liuhe 2021 8 2022 liability days
Farming guarante
Co., Ltd. e
Laixi Joint
New and
Oct. 25, 11,089.2 Apr. 17, 3644
Hope 7,645.53 several None None No Yes
2019 6 2020 days
Liuhe liability
Farming guarante
185
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Co., Ltd. e
Laixi Joint
New and
Hope Apr. 29, 11,181.6 Oct. 28, several 1826
7,709.23 None None No Yes
Liuhe 2020 5 2020 liability days
Farming guarante
Co., Ltd. e
Joint
Laiyang and
Xinmu Apr. 29, Nov. 18, several 3105
13,900 12,650 None None No Yes
Breeding 2020 2020 liability days
Co., Ltd. guarante
e
Joint
Laiyang and
Xinhao Apr. 29, Apr. 30, several 1814
19,700 12,700 None None No Yes
Livestock 2020 2020 liability days
Co., Ltd. guarante
e
Joint
Lezhi and
Xinmu Apr. 29, Mar. 05, several 2912
22,950 22,950 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Liquan Joint
New and
Hope Apr. 29, Sept. 29, several 2243
30,000 11,400 None None No Yes
Liuhe 2020 2020 liability days
Farming guarante
Co., Ltd. e
Lipu Joint
Xinhao and
Farming May 22, several 359
Jun. 1, 2022 8,500 5,000 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Joint
Liaoning and
Kinghey Apr. 01, several 362
Jun. 1, 2022 15,000 5,000 None None No Yes
Food Co., 2023 liability days
Ltd. guarante
e
Joint
Liaoning
and
Xinwang
Oct. 25, 71,513.0 Mar. 27, several 3994
Technolo 52,503.49 None None No Yes
2019 7 2020 liability days
gy Co.,
guarante
Ltd.
e
Joint
Liaoning
and
Xinwang
Apr. 29, 30,986.9 Apr. 13, several 1090
Technolo 22,750 None None No Yes
2020 3 2021 liability days
gy Co.,
guarante
Ltd.
e
Liaochen Oct. 25, Dec. 12, Joint 1809
20,600 7,219.19 None None No Yes
g Xinhao 2019 2019 and days
186
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Farming several
Co., Ltd. liability
guarante
e
Liuzhou Joint
Xinliu and
Farming Apr. 29, Oct. 27, several 2905
18,000 7,650 None None No Yes
Technolo 2020 2020 liability days
gy Co., guarante
Ltd. e
Longhai Joint
New and
Hope Apr. 29, Dec. 23, several 1824
45,000 8,750 None None No Yes
Liuhe 2020 2020 liability days
Farming guarante
Co., Ltd. e
Longhui Joint
New and
Hope Apr. 29, Nov. 6, several 2882
13,300 4,875 None None No Yes
Liuhe 2020 2020 liability days
Farming guarante
Co., Ltd. e
Luding Joint
Xinyue and
Farming Apr. 29, Apr. 02, several 2956
3,780 3,780 None None No Yes
Technolo 2020 2021 liability days
gy Co., guarante
Ltd. e
Joint
Meishan and
Xinmu Apr. 29, Mar. 30, several 2917
21,450 21,450 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Joint
Nanchong
and
New
May 29, Jan. 04, several 1095
Hope 2,105.26 1,000 None None No Yes
2021 2022 liability days
Feed Co.,
guarante
Ltd.
e
Joint
Nanchong
and
New
Apr. 29, Mar. 29, several 1095
Hope 7,368.42 3,500 None None No Yes
2020 2021 liability days
Feed Co.,
guarante
Ltd.
e
Joint
Nanchong
and
New
10,526.3 Apr. 27, several 280
Hope Jun. 1, 2022 5,000 None None No Yes
2 2023 liability days
Feed Co.,
guarante
Ltd.
e
Joint
Nanjing
and
Xinmu Apr. 29, Sept. 22, 1826
4,987.62 2,357.14 several None None No Yes
Farming 2020 2020 days
liability
Co., Ltd.
guarante
187
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
e
Joint
Nanjing and
Xinmu Apr. 29, Nov. 2, several 1744
6,612.38 3,125 None None No Yes
Farming 2020 2020 liability days
Co., Ltd. guarante
e
Joint
Nanning and
Xinhao Oct. 25, Apr. 16, several 3284
34,000 21,000 None None No Yes
Farming 2019 2020 liability days
Co., Ltd. guarante
e
Nanning Joint
Xinliu and
Farming Oct. 25, Apr. 15, several 2920
20,000 9,375 None None No Yes
Technolo 2019 2020 liability days
gy Co., guarante
Ltd. e
Nanning
Joint
New
and
Hope
May 29, Jul. 28, several 1264
Farming 7,902.5 2,286.32 None None No Yes
2021 2021 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Nanning
Joint
New
and
Hope
Mar. 31, several 366
Farming Jun. 1, 2022 12,097.5 3,500 None None No Yes
2023 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Neiqiu Joint
Xinliu and
Farming Apr. 29, Jul. 20, several 3286
29,000 27,001.02 None None No Yes
Technolo 2020 2020 liability days
gy Co., guarante
Ltd. e
Ningbo Joint
New and
Hope Apr. 29, Jul. 03, several 1825
15,400 9,375 None None No Yes
Liuhe 2020 2020 liability days
Farming guarante
Co., Ltd. e
Ningbo Joint
New and
Hope Sept. 21, several 3514
Jun. 1, 2022 5,000 4,950 None None No Yes
Liuhe 2022 liability days
Feed Co., guarante
Ltd. e
Joint
Ningming and
Xinhao Oct. 25, Apr. 15, several 3651
45,300 30,000 None None No Yes
Farming 2019 2020 liability days
Co., Ltd. guarante
e
188
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ningxia
New Joint
Hope and
Ruminant Jul. 14, several 365
Jun. 1, 2022 17,000 5,000 None None No Yes
Animal 2022 liability days
Nutritious guarante
Food Co., e
Ltd.
Pizhou Joint
New and
Hope Apr. 29, Mar. 31, several 1825
35,000 13,500 None None No Yes
Liuhe 2020 2021 liability days
Farming guarante
Co., Ltd. e
Pingyuan Joint
Xinliu and
Farming Apr. 29, Mar. 01, several 2466
23,100 3,929.91 None None No Yes
Technolo 2020 2021 liability days
gy Co., guarante
Ltd. e
Joint
Pucheng
and
Xinliu
Apr. 29, Nov. 20, several 1825
Technolo 23,500 12,919.38 None None No Yes
2020 2020 liability days
gy Co.,
guarante
Ltd.
e
Puyang Joint
Xinliu and
Farming Apr. 29, Jan. 06, several 1673
20,000 8,065.71 None None No Yes
Technolo 2020 2021 liability days
gy Co., guarante
Ltd. e
Joint
Qingdao and
Liuhe Mar. 31, several 366
Jun. 1, 2022 6,000 1,000 None None No Yes
Feed Co., 2023 liability days
Ltd. guarante
e
Qiandong
Joint
nan New
and
Hope
Feb. 27, several 373
Farming Jun. 1, 2022 16,000 2,000 None None No Yes
2023 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Joint
Raoyang and
Xinhao Apr. 29, Apr. 30, several 1065
5,000 5,000 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Joint
Rugao and
Xinhao Apr. 29, Oct. 15, several 1094
5,000 5,000 None None No Yes
Farming 2020 2020 liability days
Co., Ltd. guarante
e
189
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ruzhou
Joint
Quanshen
and
g
Apr. 29, Jan. 06, several 1673
Farming 8,400 6,300 None None No Yes
2020 2021 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Ruyuan
Yao Joint
Autonom and
ous Feb. 03, several 988
Jun. 1, 2022 12,600 7,000 None None No Yes
County 2023 liability days
Xinhao guarante
Farming e
Co., Ltd.
Rui'an Joint
New and
Hope Apr. 29, Nov. 13, several 1864
6,400 4,900 None None No Yes
Liuhe 2020 2020 liability days
Farming guarante
Co., Ltd. e
Santai
Joint
New
and
Hope
May 29, Apr. 01, several 1095
Farming 30,000 18,100 None None No Yes
2021 2022 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Joint
Shandong and
Kinghey May 29, Jul. 13, several 2545
50,000 17,645.81 None None No Yes
Food Co., 2021 2021 liability days
Ltd. guarante
e
Shandong Joint
New and
Hope Jan. 29, several 363
Jun. 1, 2022 150,000 5,000 None None No Yes
Liuhe 2023 liability days
Group guarante
Co., Ltd. e
Joint
Shaoyang and
Xinmu May 29, Jul. 30, several 2457
16,900 3,674 None None No Yes
Farming 2021 2021 liability days
Co., Ltd. guarante
e
Shenze Joint
New and
Hope Apr. 29, May 19, several 2909
22,000 18,697 None None No Yes
Liuhe 2020 2020 liability days
Breeding guarante
Co., Ltd. e
Shiyan Joint
Xinyue and
Apr. 29, Apr. 15, 2918
Farming 26,600 9,075 several None None No Yes
2020 2021 days
Technolo liability
gy Co., guarante
190
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ltd. e
Joint
Shuozhou and
Xinhao Apr. 29, Sept. 01, several 1283
30,000 28,000 None None No Yes
Farming 2020 2020 liability days
Co., Ltd. guarante
e
Sichuan
New Joint
Hope and
Animal Apr. 17, several 151
Jun. 1, 2022 400,000 19,438.52 None None No Yes
Nutrition 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Sichuan Joint
New and
Hope Oct. 25, Dec. 31, several 2551
200,000 28,235 None None No Yes
Liuhe 2019 2019 liability days
Farming guarante
Co., Ltd e
Joint
Suixi and
Xinhao Apr. 29, Mar. 29, several 1826
4,000 3,000 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Taiqian Joint
Xinliu and
Farming Apr. 29, Aug. 27, several 2489
10,000 8,000 None None No Yes
Technolo 2020 2020 liability days
gy Co., guarante
Ltd. e
Taiqian Joint
Xinliu and
Farming Apr. 29, Aug. 27, several 2489
10,000 8,000 None None No Yes
Technolo 2020 2020 liability days
gy Co., guarante
Ltd. e
Taizhou Joint
New and
Hope Mar. 16, several 726
Jun. 1, 2022 3,000 2,000 None None No Yes
Agricultu 2023 liability days
re Co., guarante
Ltd. e
Joint
Tangshan and
Xinhao Oct. 25, 20,476.1 Apr. 24, several 1825
16,200 None None No Yes
Farming 2019 9 2020 liability days
Co., Ltd. guarante
e
Joint
Tangshan and
Xinhao Apr. 29, 44,023.8 several 2911
May 8, 2020 34,830 None None No Yes
Farming 2020 1 liability days
Co., Ltd. guarante
e
191
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Tianjin Joint
Xinliu and
Farming Apr. 29, 36,267.4 Feb. 05, several 3260
17,873.91 None None No Yes
Technolo 2020 3 2021 liability days
gy Co., guarante
Ltd. e
Tianjin Joint
Xinliu and
Farming May 23, 16,232.5 Jun. 07, several 365
8,000 None None No Yes
Technolo 2023 7 2023 liability days
gy Co., guarante
Ltd. e
Tianjin
New Joint
Hope and
Liuhe Mar. 10, several 3288
Jun. 1, 2022 25,500 10,743.55 None None No Yes
Farming 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Tongchen Joint
g Xinliu and
Farming Apr. 29, 11,905.7 Jan. 27, several 1747
9,023.19 None None No Yes
Technolo 2020 3 2021 liability days
gy Co., guarante
Ltd. e
Tongchen Joint
g Xinliu and
Farming May 29, Jan. 01, several 2119
5,818.82 4,410 None None No Yes
Technolo 2021 2022 liability days
gy Co., guarante
Ltd. e
Tongchen Joint
g Xinliu and
Farming Apr. 29, 16,775.4 Feb. 23, several 2431
12,713.88 None None No Yes
Technolo 2020 5 2021 liability days
gy Co., guarante
Ltd. e
Joint
Weinan
and
Xinliu
Oct. 25, 51,444.0 Dec. 24, several 4382
Technolo 40,000 None None No Yes
2019 7 2019 liability days
gy Co.,
guarante
Ltd.
e
Joint
Weinan
and
Xinliu
Apr. 29, Mar. 02, several 1874
Technolo 5,555.93 4,319.98 None None No Yes
2020 2021 liability days
gy Co.,
guarante
Ltd.
e
Joint
Wuqi
and
Xinliu
Apr. 29, Sept. 15, several 2622
Technolo 18,000 8,000 None None No Yes
2020 2020 liability days
gy Co.,
guarante
Ltd.
e
Wuhe May 29, 4,910.62 Jun. 29, 2,400 Joint None None 1461 No Yes
192
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
New 2021 2021 and days
Hope several
Liuhe liability
Livestock guarante
Co., Ltd. e
Wuhe Joint
New and
Hope Apr. 29, 16,927.6 Jun. 04, several 1825
8,273.18 None None No Yes
Liuhe 2020 7 2020 liability days
Livestock guarante
Co., Ltd. e
Wuhe Joint
New and
Hope Apr. 29, 41,637.9 Sept. 29, several 2916
20,350 None None No Yes
Liuhe 2020 3 2020 liability days
Livestock guarante
Co., Ltd. e
Wuhe Joint
New and
Hope Apr. 29, May 22, several 2548
40,921.8 20,000 None None No Yes
Liuhe 2020 2020 liability days
Livestock guarante
Co., Ltd. e
Wuhe Joint
New and
Hope Apr. 29, 21,590.8 May 20, several 2547
10,552.23 None None No Yes
Liuhe 2020 1 2020 liability days
Livestock guarante
Co., Ltd. e
Wuhe Joint
New and
Hope Apr. 29, 36,011.1 Mar. 24, several 2557
17,600 None None No Yes
Liuhe 2020 8 2021 liability days
Livestock guarante
Co., Ltd. e
Joint
Wulian and
Xinhao Apr. 29, Jun. 24, several 1822
10,200 4,983.33 None None No Yes
Farming 2020 2020 liability days
Co., Ltd. guarante
e
Wulong Joint
New and
Hope May 23, Jun. 27, several 364
10,000 5,000 None None No Yes
Liuhe 2023 2023 liability days
Feed Co., guarante
Ltd. e
Wuwei Joint
New and
Hope Jan. 20, several 1942
Jun. 1, 2022 6,000 1,778 None None No Yes
Liuhe 2023 liability days
Feed Co., guarante
Ltd. e
Xiajiang Joint
Xinliu Apr. 29, Feb. 04, and 1713
6,000 3,750 None None No Yes
Farming 2020 2021 several days
Co., Ltd. liability
193
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
guarante
e
Joint
Xiangsha
and
n
Apr. 29, May 21, several 1754
Huatong 20,000 12,000 None None No Yes
2020 2021 liability days
Livestock
guarante
Co., Ltd.
e
Xinji Joint
Xinliu and
Farming Apr. 29, 10,909.0 Jan. 08, several 2355
6,000 None None No Yes
Technolo 2020 9 2021 liability days
gy Co., guarante
Ltd. e
Xinji Joint
Xinliu and
Farming Apr. 29, 29,090.9 Jan. 14, several 2349
16,000 None None No Yes
Technolo 2020 1 2021 liability days
gy Co., guarante
Ltd. e
New
Hope
Liuhe
Joint
(Zibo)
and
Agricultu
May 29, Apr. 01, several 2518
ral 25,000 6,206 None None No Yes
2021 2022 liability days
Technolo
guarante
gy
e
Develop
ment Co.,
Ltd.
Joint
New and
Hope Apr. 29, 78,415.5 Oct. 19, several 1095
36,129 None None No Yes
Singapore 2020 3 2020 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope 31,366.2 Dec. 19, several 1095
Jun. 1, 2022 14,451.6 None None No Yes
Singapore 1 2022 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope 79,269.5 Mar. 24, several 221
Jun. 1, 2022 36,522.47 None None No Yes
Singapore 4 2023 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope Apr. 29, 94,098.6 Oct. 19, several 1095
43,354.8 None None No Yes
Singapore 2020 4 2020 liability days
Pte. Ltd. guarante
e
New Apr. 29, 101,519. Oct. 19, Joint 1095
46,773.82 None None No Yes
Hope 2020 39 2020 and days
194
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Singapore several
Pte. Ltd. liability
guarante
e
Joint
New and
Hope May 11, several
Jun. 1, 2022 5,661.51 2,608.47 None None 91 days No Yes
Singapore 2023 liability
Pte. Ltd. guarante
e
Joint
New and
Hope 31,049.2 Mar. 22, several 187
Jun. 1, 2022 14,305.55 None None No Yes
Singapore 2 2023 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope Apr. 29, 78,415.5 Oct. 19, several 1095
36,129 None None No Yes
Singapore 2020 3 2020 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope 50,616.2 Apr. 14, several 229
Jun. 1, 2022 23,320.84 None None No Yes
Singapore 8 2023 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope Apr. 29, 78,415.5 Oct. 19, several 1095
36,129 None None No Yes
Singapore 2020 3 2020 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope Apr. 29, 27,445.4 Oct. 19, several 1095
12,645.15 None None No Yes
Singapore 2020 4 2020 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope Apr. 29, 27,445.4 Oct. 19, several 1095
12,645.15 None None No Yes
Singapore 2020 4 2020 liability days
Pte. Ltd. guarante
e
Joint
New and
Hope Apr. 29, 31,366.2 Oct. 19, several 1095
14,451.6 None None No Yes
Singapore 2020 1 2020 liability days
Pte. Ltd. guarante
e
Joint
New
and
Hope Apr. 29, 78,415.5 Oct. 19, 1095
36,129 several None None No Yes
Singapore 2020 3 2020 days
liability
Pte. Ltd.
guarante
195
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
e
Xingren Joint
Xinliu and
Farming Apr. 29, Sept. 30, several 2914
11,000 9,487.5 None None No Yes
Technolo 2020 2020 liability days
gy Co., guarante
Ltd. e
Joint
Yantai and
Xinhao Apr. 29, 17,553.3 Oct. 12, several 1780
12,276.48 None None No Yes
Farming 2020 1 2020 liability days
Co., Ltd. guarante
e
Joint
Yantai and
Xinhao Apr. 29, 20,546.6 Oct. 27, several 1812
14,370 None None No Yes
Farming 2020 9 2020 liability days
Co., Ltd. guarante
e
Joint
Yanting and
Xinhao Apr. 29, Dec. 21, several 1808
6,950.18 3,017.3 None None No Yes
Farming 2020 2020 liability days
Co., Ltd. guarante
e
Joint
Yanting and
Xinhao May 29, 41,461.9 Jan. 01, several 1185
18,000 None None No Yes
Farming 2021 6 2022 liability days
Co., Ltd. guarante
e
Joint
Yanting and
Xinhao Apr. 26, 21,587.8 Sept. 30, several 1827
9,372 None None No Yes
Farming 2019 6 2019 liability days
Co., Ltd. guarante
e
Joint
Yanshi and
Liuhe Jun. 24, several 728
Jun. 1, 2022 10,000 2,800 None None No Yes
Feed Co., 2022 liability days
Ltd. guarante
e
Joint
Yanggu
and
Liuhe
Apr. 25, several 366
Luxin Jun. 1, 2022 15,000 5,000 None None No Yes
2023 liability days
Food Co.,
guarante
Ltd.
e
Yangling
Joint
Besun
and
Agricultu
11,981.5 Jun. 02, several 2394
ral Jun. 1, 2022 2,643.89 None None No Yes
4 2022 liability days
Industry
guarante
Group
e
Co., Ltd.
Yangling Apr. 26, 24,018.4 Sept. 24, 5,300 Joint None None 1827 No Yes
196
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Besun 2019 6 2019 and days
Agricultu several
ral liability
Industry guarante
Group e
Co., Ltd.
Joint
Yishui and
Liuhe Apr. 13, several 366
Jun. 1, 2022 6,000 1,000 None None No Yes
Feed Co., 2023 liability days
Ltd. guarante
e
Joint
Yijun
and
Xinliu
Oct. 25, Nov. 15, several 4382
Technolo 16,500 14,100 None None No Yes
2019 2019 liability days
gy Co.,
guarante
Ltd.
e
Joint
Yincheng and
Xinhao Apr. 29, 50,791.4 Aug. 18, several 3776
26,165.79 None None No Yes
Farming 2020 8 2020 liability days
Co., Ltd. guarante
e
Joint
Yincheng and
Xinhao Apr. 29, 16,208.5 Sept. 25, several 2922
8,350 None None No Yes
Farming 2020 2 2020 liability days
Co., Ltd. guarante
e
Joint
Yuncheng and
Dingtai Apr. 12, several 366
Jun. 1, 2022 3,000 1,000 None None No Yes
Feed Co., 2023 liability days
Ltd. guarante
e
Joint
Zhanjiang and
Guoxiong May 29, Apr. 19, several 731
15,000 4,800 None None No Yes
Feed Co., 2021 2022 liability days
Ltd. guarante
e
Joint
Zhangwu and
Xinwang May 29, Jan. 04, several 3612
19,900 11,300 None None No Yes
Farming 2021 2022 liability days
Co., Ltd. guarante
e
Joint
Zhaoqing and
Xinhao Apr. 29, Feb. 10, several 2555
26,600 18,596 None None No Yes
Farming 2020 2021 liability days
Co., Ltd. guarante
e
Zhejiang Joint
Apr. 29, 13,049.4 Aug. 04, 1811
Yihai 7,500 and None None No Yes
2020 9 2020 days
Agricultu several
197
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
ral liability
Develop guarante
ment Co. e
Ltd.
Zhejiang
Joint
Yihai
and
Agricultu
Apr. 29, Nov. 9, several 2846
ral 7,250.51 4,167.13 None None No Yes
2020 2020 liability days
Develop
guarante
ment Co.
e
Ltd.
Zhenjiang Joint
New and
Hope Apr. 29, Mar. 19, several 1734
20,000 5,000 None None No Yes
Liuhe 2020 2021 liability days
Farming guarante
Co., Ltd. e
Joint
Chongqin
and
g New
May 29, May 31, several 1095
Hope 40,000 16,000 None None No Yes
2021 2021 liability days
Feed Co.,
guarante
Ltd.
e
Joint
Zibo and
Xinhao Jul. 06, several 2789
Jun. 1, 2022 2,304.49 1,166.19 None None No Yes
Farming 2022 liability days
Co., Ltd. guarante
e
Joint
Zibo and
Xinhao Apr. 29, several 3215
9,695.51 May 6, 2021 4,906.42 None None No Yes
Farming 2020 liability days
Co., Ltd. guarante
e
Xiangyan Joint
g New and
Hope Mar. 02, several 366
Jun. 1, 2022 10,000 1,000 None None No Yes
Liuhe 2023 liability days
Feed Co., guarante
Ltd. e
Laiyang Joint
New and
Hope several 288
Jun. 1, 2022 5,285.6 Feb. 8, 2023 5,285.6 None None No Yes
Liuhe liability days
Feed Co., guarante
Ltd. e
Joint
Shouguan
and
g Liuhe
several 289
Dingtai Jun. 1, 2022 2,129.8 Feb. 8, 2023 2,129.8 None None No Yes
liability days
Feed Co.,
guarante
Ltd.
e
Anqiu Joint
Liuhe and 289
Jun. 1, 2022 5,292.47 Feb. 8, 2023 5,292.47 None None No Yes
Feed Co., several days
Ltd. liability
198
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
guarante
e
Joint
Lezhi and
Xinmu several 179
Jun. 1, 2022 70.09 Feb. 8, 2023 70.09 None None No Yes
Farming liability days
Co., Ltd. guarante
e
Joint
Tangshan and
Xinhao Feb. 09, several 180
Jun. 1, 2022 137.56 137.56 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Joint
Zhangwu and
Xinwang Feb. 09, several 299
Jun. 1, 2022 251.32 251.32 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Shibing
Joint
County
and
New
Feb. 09, several 180
Hope Jun. 1, 2022 91.33 91.33 None None No Yes
2023 liability days
Liuhe
guarante
Breeding
e
Co., Ltd.
Laixi Joint
New and
Hope Feb. 20, several 291
Jun. 1, 2022 458.64 458.64 None None No Yes
Liuhe 2023 liability days
Farming guarante
Co., Ltd. e
Joint
Heze and
Xinhao Feb. 24, several 180
Jun. 1, 2022 22.44 22.44 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Joint
Hubei and
Xinhao Mar. 03, several 270
Jun. 1, 2022 141.06 141.06 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Tianjin Joint
Xinliu and
Farming Mar. 03, several 281
Jun. 1, 2022 870.85 870.85 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Joint
Liaoning
and
Xinwang
Mar. 07, several 258
Technolo Jun. 1, 2022 524.51 524.51 None None No Yes
2023 liability days
gy Co.,
guarante
Ltd.
e
199
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Yishui Joint
New and
Hope Mar. 07, several 175
Jun. 1, 2022 2,087.65 2,087.65 None None No Yes
Liuhe 2023 liability days
Food Co., guarante
Ltd. e
Joint
Weifang and
Liuhe 17,538.0 Mar. 07, several 275
Jun. 1, 2022 17,538.09 None None No Yes
Feed Co., 9 2023 liability days
Ltd. guarante
e
Joint
Changle
and
County
Mar. 07, several 182
Liwang Jun. 1, 2022 2,070.65 2,070.65 None None No Yes
2023 liability days
Breeding
guarante
Co., Ltd.
e
Joint
Anshan
and
Liuhe
Mar. 07, several 184
Rentai Jun. 1, 2022 81.84 81.84 None None No Yes
2023 liability days
Feed Co.,
guarante
Ltd.
e
Joint
Weifang and
Heshengy Mar. 07, several 182
Jun. 1, 2022 982.87 982.87 None None No Yes
uan Food 2023 liability days
Co., Ltd. guarante
e
Joint
Changyi
and
Liuhe
Mar. 08, several 275
Xinrong Jun. 1, 2022 1,911.47 1,911.47 None None No Yes
2023 liability days
Feed Co.,
guarante
Ltd.
e
Xiangyan Joint
g New and
Hope Mar. 08, several 184
Jun. 1, 2022 459.45 459.45 None None No Yes
Liuhe 2023 liability days
Feed Co., guarante
Ltd. e
Lijin
Joint
County
and
New
Mar. 08, several 187
Hope Jun. 1, 2022 364.04 364.04 None None No Yes
2023 liability days
Liuhe
guarante
Breeding
e
Co., Ltd.
Joint
Yuncheng and
Liuhe Mar. 08, several 240
Jun. 1, 2022 711.23 711.23 None None No Yes
Food Co., 2023 liability days
Ltd. guarante
e
Jingzhou Mar. 10, Joint 231
Jun. 1, 2022 478.47 478.47 None None No Yes
New 2023 and days
200
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Hope several
Feed Co., liability
Ltd. guarante
e
Huanggan
Joint
g New
and
Hope
Mar. 10, several 242
Feed Jun. 1, 2022 1,548.52 1,548.52 None None No Yes
2023 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Joint
Jing
and
County
Mar. 10, several 183
Xinhao Jun. 1, 2022 100 100 None None No Yes
2023 liability days
Farming
guarante
Co., Ltd.
e
Joint
Sichuan
and
Xinhe
Mar. 13, several 263
Import & Jun. 1, 2022 576.28 576.28 None None No Yes
2023 liability days
Export
guarante
Co., Ltd.
e
Joint
Juye and
Xinhao Mar. 13, several 242
Jun. 1, 2022 228.88 228.88 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Kunming
New Joint
Hope and
Agricultu Mar. 15, several 183
Jun. 1, 2022 45.87 45.87 None None No Yes
ral 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Joint
Zouping
and
Liuhe
Mar. 15, several 184
Broiler Jun. 1, 2022 108.9 108.9 None None No Yes
2023 liability days
Breeding
guarante
Co., Ltd.
e
Joint
Rizhao and
Xinhao Mar. 17, several 245
Jun. 1, 2022 330.37 330.37 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Qingdao
Joint
Xinhang
and
Engineeri
Mar. 21, several 259
ng Jun. 1, 2022 1,242.33 1,242.33 None None No Yes
2023 liability days
Managem
guarante
ent Co.,
e
Ltd.
Changnin Jun. 1, 2022 44.37 Mar. 21, 44.37 Joint None None 184 No Yes
201
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
g County 2023 and days
New several
Hope liability
Liuhe guarante
Ecologica e
l Farming
Technolo
gy Co.,
Ltd.
Joint
Sanyuan
and
New
Mar. 27, several 183
Hope Jun. 1, 2022 17 17 None None No Yes
2023 liability days
Feed Co.,
guarante
Ltd.
e
Taizhou Joint
New and
Hope Mar. 28, several 233
Jun. 1, 2022 594.16 594.16 None None No Yes
Agricultu 2023 liability days
re Co., guarante
Ltd. e
Joint
Hengyang and
Xinhao Mar. 28, several 239
Jun. 1, 2022 241.74 241.74 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Joint
Sheyang and
Liuhe Mar. 30, several 183
Jun. 1, 2022 24 24 None None No Yes
Feed Co., 2023 liability days
Ltd. guarante
e
Baiyin
Joint
New
and
Hope
Apr. 04, several 153
Farming Jun. 1, 2022 238.09 238.09 None None No Yes
2023 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Joint
Yanting and
Xinhao Apr. 07, several 231
Jun. 1, 2022 658.86 658.86 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Joint
Chenzhou and
Xinhao Apr. 10, several 233
Jun. 1, 2022 316.95 316.95 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Beijing Joint
Xinliu and
Apr. 10, 182
Farming Jun. 1, 2022 26.94 26.94 several None None No Yes
2023 days
Technolo liability
gy Co., guarante
202
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ltd. e
Mianyang
New Joint
Hope and
Liuhe Apr. 10, several 183
Jun. 1, 2022 230.5 230.5 None None No Yes
Farming 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Xingren Joint
Xinliu and
Farming Apr. 12, several 180
Jun. 1, 2022 175.81 175.81 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Joint
Yiyang
and
New
Apr. 17, several 186
Hope Jun. 1, 2022 180 180 None None No Yes
2023 liability days
Feed Co.,
guarante
Ltd.
e
Horqin
Left Joint
Wing and
Middle Apr. 18, several 183
Jun. 1, 2022 17.98 17.98 None None No Yes
Banner 2023 liability days
Xinhao guarante
Farming e
Co., Ltd.
Joint
Nangong
and
Xinhao
Apr. 18, several 184
Kinghey Jun. 1, 2022 179.28 179.28 None None No Yes
2023 liability days
Farming
guarante
Co., Ltd.
e
Xianyang
Yongxian Joint
g and
Agricultu Apr. 20, several 188
Jun. 1, 2022 121.21 121.21 None None No Yes
ral 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Ruyuan
Yao Joint
Autonom and
ous Apr. 20, several 222
Jun. 1, 2022 128.78 128.78 None None No Yes
County 2023 liability days
Xinhao guarante
Farming e
Co., Ltd.
Hanzhong Joint
New and
Hope Apr. 20, several 225
Jun. 1, 2022 267.14 267.14 None None No Yes
Liuhe 2023 liability days
Farming guarante
Technolo e
203
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
gy Co.,
Ltd.
Joint
Anyang
and
Xinliu
Apr. 21, several 182
Technolo Jun. 1, 2022 30.95 30.95 None None No Yes
2023 liability days
gy Co.,
guarante
Ltd.
e
Nanning
Wuming Joint
District and
Xinliu Apr. 21, several 222
Jun. 1, 2022 26.91 26.91 None None No Yes
Farming 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Joint
Rugao and
Xinhao Apr. 21, several 180
Jun. 1, 2022 7.16 7.16 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Changle Joint
New and
Hope Apr. 21, several 188
Jun. 1, 2022 77.55 77.55 None None No Yes
Liuhe 2023 liability days
Farming guarante
Co., Ltd. e
Joint
Nanning and
Xinhao Apr. 24, several 206
Jun. 1, 2022 44 44 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Yangling
Joint
Besun
and
Agricultu
Apr. 24, several 218
ral Jun. 1, 2022 454.99 454.99 None None No Yes
2023 liability days
Industry
guarante
Group
e
Co., Ltd.
Joint
Qianwei and
Xinhao Apr. 24, several 183
Jun. 1, 2022 85.61 85.61 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Hubei Joint
Tuanfeng and
New Apr. 26, several 211
Jun. 1, 2022 141.06 141.06 None None No Yes
Hope 2023 liability days
Feed Co., guarante
Ltd. e
Zhenyuan Joint
Xinmu Apr. 26, and 189
Jun. 1, 2022 94.78 94.78 None None No Yes
Agricultu 2023 several days
ral liability
204
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Develop guarante
ment Co., e
Ltd.
Joint
Junan and
Liuhe Apr. 26, several 202
Jun. 1, 2022 65.73 65.73 None None No Yes
Breeding 2023 liability days
Co., Ltd. guarante
e
Yan’an
Benyuan
Joint
Agricultu
and
ral
Apr. 27, several 205
Technolo Jun. 1, 2022 122.11 122.11 None None No Yes
2023 liability days
gy
guarante
Develop
e
ment Co.,
Ltd.
Joint
Dacheng
and
Xinhao
Apr. 27, several 230
Technolo Jun. 1, 2022 142.78 142.78 None None No Yes
2023 liability days
gy Co.,
guarante
Ltd.
e
Binzhou Joint
New and
Hope Apr. 28, several 208
Jun. 1, 2022 112.92 112.92 None None No Yes
Liuhe 2023 liability days
Farming guarante
Co., Ltd. e
Joint
Laibin and
Xinhao Apr. 28, several 210
Jun. 1, 2022 160.39 160.39 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Shiyan Joint
Xinyue and
Farming Apr. 28, several 180
Jun. 1, 2022 12.3 12.3 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Dong’e
Joint
New
and
Hope
several 190
Liuhe Jun. 1, 2022 99.81 May 4, 2023 99.81 None None No Yes
liability days
Swine
guarante
Breeding
e
Co., Ltd.
Joint
Hainan
and
Lingao
several 216
Xinliu Jun. 1, 2022 498.51 May 5, 2023 498.51 None None No Yes
liability days
Breeding
guarante
Co., Ltd.
e
Jiangxi Joint 179
Jun. 1, 2022 95.73 May 5, 2023 95.73 None None No Yes
New and days
205
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Hope several
Liuhe liability
Farming guarante
Technolo e
gy Co.,
Ltd.
Joint
Ningming and
Xinhao several 180
Jun. 1, 2022 5.97 May 5, 2023 5.97 None None No Yes
Farming liability days
Co., Ltd. guarante
e
Shandong
Xiangshe Joint
ng and
Livestock several 213
Jun. 1, 2022 991.6 May 6, 2023 991.6 None None No Yes
and liability days
Poultry guarante
Breeding e
Co., Ltd.
Jiaxiang Joint
New and
Hope several 181
Jun. 1, 2022 1,338.55 May 6, 2023 1,338.55 None None No Yes
Liuhe liability days
Food Co., guarante
Ltd. e
Joint
Xiajiang and
Xinliu several 180
Jun. 1, 2022 284.94 May 6, 2023 284.94 None None No Yes
Farming liability days
Co., Ltd. guarante
e
Shenze Joint
New and
Hope several 210
Jun. 1, 2022 199.88 May 8, 2023 199.88 None None No Yes
Liuhe liability days
Breeding guarante
Co., Ltd. e
Joint
Shan
and
County
Mar. 9, several 183
Xinhao Jun. 1, 2022 4.96 4.96 None None No Yes
2023 liability days
Farming
guarante
Co., Ltd.
e
Langzhon Joint
g Xinliu and
Farming May 10, several 179
Jun. 1, 2022 23.06 23.06 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Hebei
Joint
Xinhao
and
Fucheng
May 11, several 184
Agricultu Jun. 1, 2022 84.31 84.31 None None No Yes
2023 liability days
ral
guarante
Technolo
e
gy Co.,
206
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ltd.
Santai
Joint
New
and
Hope
May 11, several 214
Farming Jun. 1, 2022 109.33 109.33 None None No Yes
2023 liability days
Technolo
guarante
gy Co.,
e
Ltd.
Joint
Guang’an and
Xinhao May 11, several 193
Jun. 1, 2022 140.98 140.98 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Joint
Shan
and
County
May 11, several 211
Liuhe Jun. 1, 2022 1,436.93 1,436.93 None None No Yes
2023 liability days
Feed Co.,
guarante
Ltd.
e
Pingyuan Joint
Xinliu and
Farming May 12, several 182
Jun. 1, 2022 18.62 18.62 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Joint
Zhangjiak
and
ou
May 12, several 207
Xinwang Jun. 1, 2022 421.57 421.57 None None No Yes
2023 liability days
Farming
guarante
Co., Ltd.
e
Suining Joint
Xinliu and
Farming May 12, several 182
Jun. 1, 2022 111.7 111.7 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Wuhe Joint
New and
Hope May 15, several 207
Jun. 1, 2022 92.74 92.74 None None No Yes
Liuhe 2023 liability days
Livestock guarante
Co., Ltd. e
Joint
Kangping and
Xinwang May 16, several 184
Jun. 1, 2022 58.8 58.8 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Gaomi Joint
Xinliu and
Farming May 17, several 183
Jun. 1, 2022 265.15 265.15 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Yichun Jun. 1, 2022 141.18 May 17, 141.18 Joint None None 202 No Yes
207
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Xinwang 2023 and days
Farming several
Co., Ltd. liability
guarante
e
Joint
Cao
and
County
May 17, several 183
Xinhao Jun. 1, 2022 274.26 274.26 None None No Yes
2023 liability days
Farming
guarante
Co., Ltd.
e
Wannian
Joint
County
and
New
May 17, several 180
Hope Jun. 1, 2022 21.56 21.56 None None No Yes
2023 liability days
Liuhe
guarante
Farming
e
Co., Ltd.
Zhucheng Joint
Xinliu and
Farming May 18, several 194
Jun. 1, 2022 67.72 67.72 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Joint
Shaoyang and
Xinmu Mar. 14, several 267
Jun. 1, 2022 175.6 175.6 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Joint
Luochuan
and
Xinliu
May 22, several 179
Technolo Jun. 1, 2022 2 2 None None No Yes
2023 liability days
gy Co.,
guarante
Ltd.
e
Joint
Zhaoqing and
Xinhao May 22, several 179
Jun. 1, 2022 91.61 91.61 None None No Yes
Farming 2023 liability days
Co., Ltd. guarante
e
Chenzhou Joint
Xinyue and
Farming May 23, May 23, several 178
113 113 None None No Yes
Technolo 2023 2023 liability days
gy Co., guarante
Ltd. e
Joint
Xiajin and
Xinhao May 23, May 23, several 183
100 100 None None No Yes
Feed Co., 2023 2023 liability days
Ltd. guarante
e
Ruzhou Joint
May 23, May 23, 196
Quanshen 412.94 412.94 and None None No Yes
2023 2023 days
g several
208
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Farming liability
Technolo guarante
gy Co., e
Ltd.
Ningbo Joint
New and
Hope May 23, May 23, several 178
6.29 6.29 None None No Yes
Liuhe 2023 2023 liability days
Farming guarante
Co., Ltd. e
Zihong Joint
Hengbo and
Feed May 23, May 24, several 190
42.95 42.95 None None No Yes
Technolo 2023 2023 liability days
gy Co., guarante
Ltd. e
Joint
Raoyang and
Xinhao May 23, May 24, several 184
51.51 51.51 None None No Yes
Farming 2023 2023 liability days
Co., Ltd. guarante
e
Xinji Joint
Xinliu and
Farming May 23, May 25, several 195
69.37 69.37 None None No Yes
Technolo 2023 2023 liability days
gy Co., guarante
Ltd. e
Joint
Yantai and
Xinhao May 23, May 25, several 183
100.48 100.48 None None No Yes
Farming 2023 2023 liability days
Co., Ltd. guarante
e
Joint
Juye and
Liuhe May 23, May 25, several 183
671.38 671.38 None None No Yes
Feed Co., 2023 2023 liability days
Ltd. guarante
e
Fenxi Joint
New and
Hope May 23, May 25, several 183
1,087.11 1,087.11 None None No Yes
Liuhe 2023 2023 liability days
Food Co., guarante
Ltd. e
Fuping Joint
Xinliu and
Farming May 23, May 25, several 183
14.63 14.63 None None No Yes
Technolo 2023 2023 liability days
gy Co., guarante
Ltd. e
Tianjin Joint
New and
May 23, May 26, 196
Hope 301.83 301.83 several None None No Yes
2023 2023 days
Liuhe liability
Farming guarante
209
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Technolo e
gy Co.,
Ltd.
Joint
Laiyang and
Xinhao May 23, May 29, several 164
25.04 25.04 None None No Yes
Livestock 2023 2023 liability days
Co., Ltd. guarante
e
Joint
Guangxi
and
Luocheng
May 23, May 30, several 174
Xinhao 23.89 23.89 None None No Yes
2023 2023 liability days
Farming
guarante
Co., Ltd.
e
Joint
Dingzhou and
Xinhao May 23, May 30, several 183
2.2 2.2 None None No Yes
Farming 2023 2023 liability days
Co., Ltd. guarante
e
Panzhou Joint
Xinliu and
Farming May 23, May 31, several 180
61.05 61.05 None None No Yes
Develop 2023 2023 liability days
ment Co., guarante
Ltd. e
Manning Joint
Xinliu and
Farming May 23, several 180
121.86 Jun. 1, 2023 121.86 None None No Yes
Technolo 2023 liability days
gy Co., guarante
Ltd. e
Pizhou Joint
New and
Hope May 23, several 183
68.96 Jun. 1, 2023 68.96 None None No Yes
Liuhe 2023 liability days
Farming guarante
Co., Ltd. e
Joint
Hezhou and
Xinhao May 23, Jun. 02, several 179
137.65 137.65 None None No Yes
Farming 2023 2023 liability days
Co., Ltd. guarante
e
Longhui Joint
New and
Hope May 23, Jun. 05, several 180
44.79 44.79 None None No Yes
Liuhe 2023 2023 liability days
Farming guarante
Co., Ltd. e
Joint
Heyang
and
Zhenghe
May 23, Jun. 06, several 170
Modern 7.51 7.51 None None No Yes
2023 2023 liability days
Farming
guarante
Co., Ltd.
e
210
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Pingxiang Joint
New and
Hope May 23, Jun. 08, several 176
100.86 100.86 None None No Yes
Liuhe 2023 2023 liability days
Feed Co., guarante
Ltd. e
Tangshan
Xinhao Joint
Environm and
ental May 23, Jun. 08, several 183
234.24 234.24 None None No Yes
Protection 2023 2023 liability days
Technolo guarante
gy Co., e
Ltd.
Joint
Dezhou and
Xinhao May 23, Jun. 09, several 182
156.49 156.49 None None No Yes
Farming 2023 2023 liability days
Co., Ltd. guarante
e
Guangyua
Joint
n Xinhao
and
Agricultu
May 23, Jun. 12, several 182
ral 224.76 224.76 None None No Yes
2023 2023 liability days
Develop
guarante
ment Co.,
e
Ltd.
Joint
Guanghan and
Guoxiong May 23, May 23, several One
800 152.81 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Joint
Chongqin
and
g New
May 23, May 23, several One
Hope 3,000 586.65 None None No Yes
2023 2023 liability year
Feed Co.,
guarante
Ltd.
e
Kai Joint
County and
New May 23, May 23, several One
1,000 0.03 None None No Yes
Hope 2023 2023 liability year
Feed Co., guarante
Ltd. e
Kunming
New Joint
Hope and
Agricultu May 23, May 23, several One
2,000 172.17 None None No Yes
ral 2023 2023 liability year
Technolo guarante
gy Co., e
Ltd.
Kunming Joint
New May 23, May 23, and One
3,000 48.29 None None No Yes
Hope 2023 2023 several year
Animal liability
211
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Nutritious guarante
Food Co., e
Ltd.
Joint
Zunyi and
Jiahao May 23, May 23, several One
2,000 47.98 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
New
Joint
Hope
and
Liuhe
May 23, May 23, several One
Feed Co., 200 0.28 None None No Yes
2023 2023 liability year
Ltd.
guarante
Pingyuan
e
Banch
Joint
Qingyun and
Liuhe May 23, May 23, several One
400 35.56 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Joint
Liaochen and
g Liuhe May 23, May 23, several One
200 34.81 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Joint
Yingtan
and
New
May 23, May 23, several One
Hope 5,000 2.65 None None No Yes
2023 2023 liability year
Feed Co.,
guarante
Ltd.
e
Anyang Joint
New and
Hope May 23, May 23, several One
2,000 85.4 None None No Yes
Liuhe 2023 2023 liability year
Feed Co., guarante
Ltd. e
Joint
and
Gushi
May 23, May 23, several One
Liuhe 3,000 0.39 None None No Yes
2023 2023 liability year
Co., Ltd.
guarante
e
Joint
Henan and
Liuhe May 23, May 23, several One
3,550 229.45 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Baoji Joint
New and
May 23, May 23, One
Hope 300 50.81 several None None No Yes
2023 2023 year
Farming liability
Co., Ltd. guarante
212
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
e
Joint
Yanshi and
Liuhe May 23, May 23, several One
3,000 78.51 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Lingbao Joint
New and
Hope May 23, May 23, several One
200 10.96 None None No Yes
Liuhe 2023 2023 liability year
Feed Co., guarante
Ltd. e
Joint
Xuanchen and
g Liuhe May 23, May 23, several One
350 39.26 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Jinan Joint
New and
Hope May 23, May 23, several One
2,000 144.58 None None No Yes
Liuhe 2023 2023 liability year
Feed Co., guarante
Ltd. e
Tangshan Joint
New and
Hope May 23, May 23, several One
3,000 1.81 None None No Yes
Liuhe 2023 2023 liability year
Feed Co., guarante
Ltd. e
Joint
Hebei
and
New
May 23, May 23, several One
Hope 6,000 34.64 None None No Yes
2023 2023 liability year
Feed Co.,
guarante
Ltd.
e
Beijing
Joint
New
and
Hope
May 23, May 23, several One
Farming 2,000 6.85 None None No Yes
2023 2023 liability year
Technolo
guarante
gy Co.,
e
Ltd.
Joint
Shouguan
and
g Liuhe
May 23, May 23, several One
Dingtai 4,000 287.01 None None No Yes
2023 2023 liability year
Feed Co.,
guarante
Ltd.
e
Joint
Pingxiang
and
New
May 23, May 23, several One
Hope 400 40 None None No Yes
2023 2023 liability year
Feed Co.,
guarante
Ltd.
e
Handan May 23, 2,000 May 23, 54.83 Joint None None One No Yes
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Liuhe 2023 2023 and year
Huayu several
Feed Co., liability
Ltd. guarante
e
Joint
Jiangmen and
Liuhe May 23, May 23, several One
10,000 496.82 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Joint
Guangzho and
u Hope May 23, May 23, several One
4,000 90.37 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Joint
Guangzho and
u Liuhe May 23, May 23, several One
10,000 94.5 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Joint
Zhanjiang and
Guoxiong May 23, May 23, several One
500 182.59 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Weifang Joint
Liuhe and
Feed Co., May 23, May 23, several One
3,000 7.75 None None No Yes
Ltd. 2023 2023 liability year
Linqu guarante
Branch e
Joint
Yishui and
Liuhe May 23, May 23, several One
3,000 0.86 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Joint
Changtu and
Liuhe May 23, May 23, several One
500 4.98 None None No Yes
Farming 2023 2023 liability year
Co., Ltd. guarante
e
Joint
Anqiu and
Liuhe May 23, May 23, several One
3,000 121.2 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Shan Joint
County May 23, May 23, and One
1,000 14.18 None None No Yes
Liuhe 2023 2023 several year
Feed Co., liability
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Ltd. guarante
e
Zhucheng Joint
New and
Hope May 23, May 23, several One
1,000 22.82 None None No Yes
Liuhe 2023 2023 liability year
Feed Co., guarante
Ltd. e
Zaozhuan Joint
g New and
Hope May 23, May 23, several One
2,000 27.55 None None No Yes
Liuhe 2023 2023 liability year
Feed Co., guarante
Ltd. e
Tai’an
Joint
Liuhe
and
Jingwei
May 23, May 23, several One
Farming 600 22.65 None None No Yes
2023 2023 liability year
Co., Ltd.
guarante
Feed
e
Plant
Zhanjiang Joint
Guoxiong and
No. 1 May 23, May 23, several One
500 207.97 None None No Yes
Native 2023 2023 liability year
Pig Feed guarante
Co., Ltd. e
Nanning
Joint
New
and
Hope
May 23, May 23, several One
Farming 4,000 346.13 None None No Yes
2023 2023 liability year
Technolo
guarante
gy Co.,
e
Ltd.
Shenyang
Joint
New
and
Hope
May 23, May 23, several One
Farming 500 47.78 None None No Yes
2023 2023 liability year
Technolo
guarante
gy Co.,
e
Ltd.
Nayong
New Joint
Hope and
Yuanshen May 23, May 23, several One
1,000 0.04 None None No Yes
g 2023 2023 liability year
Agricultu guarante
re Co., e
Ltd.
Joint
Tangshan and
Muzheng May 23, May 23, several One
200 2.39 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Sichuan May 23, May 23, Joint One
80,000 6,544.83 None None No Yes
New 2023 2023 and year
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Hope several
Animal liability
Nutrition guarante
Technolo e
gy Co.,
Ltd.
Joint
Heze and
Xinhao May 23, May 23, several One
600 31.55 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Wei Joint
County and
New May 23, May 23, several One
500 4.28 None None No Yes
Hope 2023 2023 liability year
Feed Co., guarante
Ltd. e
Joint
Huizhou and
Liuhe May 23, May 23, several One
2,000 55.94 None None No Yes
Feed Co., 2023 2023 liability year
Ltd. guarante
e
Jiangmen
Joint
Xinhui
and
District
May 23, May 23, several One
Liuhe 2,000 49.94 None None No Yes
2023 2023 liability year
Biotechno
guarante
logy Co.,
e
Ltd.
Hainan
New
Joint
Hope
and
Liuhe
May 23, May 23, several One
Supply 60,000 1,471.03 None None No Yes
2023 2023 liability year
Chain
guarante
Technolo
e
gy Co.,
Ltd.
Total amount of Total amount of
guarantee provided for guarantee actually
subsidiaries approved 289,249.44 incurred for subsidiaries 271,333.77
during the reporting during the reporting
period (B1) period (B2)
Total amount of
Total balance of actual
guarantee provided for
guarantee for
subsidiaries approved at 5,014,002.5 2,206,958.04
subsidiaries at the end
the end of the reporting
of reporting period (B4)
period (B3)
Guarantees provided by subsidiaries for subsidiaries
Date of Wheth Whe
Name of Counter
disclosure Guarant Date Amount Type of Collat Guara er ther
guarantee guarante
of related eed actually actually guarante erals(i ntee fully relat
beneficiar e (if
announceme amount incurred guaranteed e f any) period perfor ed-
y any)
nt of med party
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guaranteed guar
amount antee
Qingdao
New Joint
Hope and
Herun May 29, Apr. 22, several 1825
5,000 373.83 None None No Yes
Bio- 2021 2022 liability days
technolog guarante
y Co., e
Ltd.
Joint
Qingdao and
Tianrun Feb. 28, several 547
Jun. 1, 2022 50,000 7,310 None None No Yes
Food Co., 2023 liability days
Ltd. guarante
e
Total amount of Total amount of
guarantee provided for guarantee actually
subsidiaries approved incurred for subsidiaries 7,310
during the reporting during the reporting
period (C1) period (C2)
Total amount of
Total balance of actual
guarantee provided for
guarantee for
subsidiaries approved at 55,000 7,683.83
subsidiaries at the end
the end of the reporting
of reporting period (C4)
period (C3)
Total amount of guarantee provided by the company (i.e. the aggregate of the above three)
Total amount of
Total amount of
guarantee actually
guarantee approved
313,249.44 incurred during the 318,576.43
during the reporting
reporting period
period (A1+B1+C1)
(A2+B2+C2)
Total amount of Total balance of actual
guarantee approved at the guarantee at the end of
5,217,552.5 2,300,391.67
end of the reporting the reporting period
period (A3+B3+C3) (A4+B4+C4)
Proportion of total amount of actual guarantee (i.e.
90.95%
A4+B4+C4) in the company’s net assets
Wherein:
Balance of guarantee provided to shareholders,
66,590.43
actual controller and their affiliates (D)
Balance of debt guarantee provided directly or
indirectly for the guaranteed subjects each with 1,497,908.79
asset-liability ratio of over 70% (E)
Amount of total guarantee in excess of 50% of net
735,892.45
assets (F)
Total amount of the above three guarantees (D+E+F) 2,300,391.67
Remarks on any liability to guarantee occurred or
possible joint and several liability for repayment with
None
sufficient evidence during the reporting period in
respect of any unexpired guarantee contract (if any)
Remarks on any external guarantee provided in
None
violation of prescribed procedures (if any)
217
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Remarks on details of guarantees provided in the composite form
3. Entrusted wealth management
□applicable not applicable
The company had no entrusted wealth management during the reporting period.
4. Other significant contracts
□applicable not applicable
The company had no other significant contracts during the reporting period.
XIII: Remarks on other significant matters
applicable □not applicable
1. At the 4th meeting of the 9th board of directors, the 3rd meeting of the 9th board of supervisors and the second
extraordinary general meeting in 2022, the company deliberated and approved the Proposal on Failure in Meeting the Lifting
Conditions in the Third Lifting Period under the Restricted Stock and Stock Option Incentive Plan 2019 and Repurchase and
Cancellation of Restricted Stocks, agreeing to repurchase and cancel a total of 438,750 restricted stocks held by 15 incentive
beneficiaries under the Incentive Plan 2019.
At the 4th meeting of the 9th board of directors and the 3rd meeting of the 9th board of supervisors, the company deliberated
and approved the Proposal on Cancellation of Stock Options under the Restricted Stock and Stock Option Incentive Plan 2019,
agreeing to cancel a total of 2,047,500 stock options not exercised by 15 incentive beneficiaries under the Incentive Plan 2019
within the second exercise period.
The company handled and completed the repurchase and cancellation formalities for these restricted stocks and cancellation
for the stock options with CSDC Shenzhen on February 1, 2023.
2. At the 10th meeting of the 9th board of directors and the 7th meeting of the 9th board of supervisors, the company
deliberated and approved the Proposal on Requesting the General Meeting of Shareholders to Extend the Validity Period of the
Resolution of the General Meeting of Shareholders on the Non-public Offering of Shares, and the board of directors requested the
general meeting of shareholders to extend the validity period of the resolution of the general meeting of shareholders on the non-
public offering of shares for 12 months from the original expiration date. In addition to the extension of the above validity period,
the other contents of the company’s non-public share offering plan remain unchanged. This matter has been deliberated and
approved at the company’s annual general meeting of 2022.
3. To increase the work efficiency and enhance strategic cooperation with major raw materials suppliers, according to the
actual needs of the procurement business, the company decided to guarantee the payment for raw materials of up to 6,664.25
million yuan for the raw materials purchase and sale contracts signed between 163 subordinate companies and 85 feed ingredient
suppliers including COFCO Trade Co., Ltd within the period of authorization, representing 22.79% of the company’s most
recently audited (FY2022) net assets attributable to shareholders of the listed company of 29,243.7647 million yuan. This matter
has been deliberated and approved at the company’s annual general meeting of 2022.
4. To increase the work efficiency and carry out financing work in a planned way, according to the actual situation of
production and operation, the company estimated that the total amount of financing guarantees provided by the company and its
majority-owned subsidiaries for subordinate companies in 2023 would be 71.5 billion yuan, representing 224.50% of the
company’s most recently audited (FY2022) net assets attributable to shareholders of the listed company of 29,243.7647 million
yuan, including a total financing guarantee of 66.55 billion yuan for the company’s majority-owned subsidiaries (including up to 5
218
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billion yuan reserved for the company’s majority-owned subsidiaries), a total financing guarantee of 4.45 billion yuan for farms
(farmers) or dealers, and 500 million yuan of guarantee provided for Chengdu Dekang Animal Health Technology Service Co.,
Ltd. This matter has been deliberated and approved at the company’s annual general meeting of 2022.
5. New Hope Dairy Co., Ltd. is an enterprise controlled by Liu Chang, chairman of the company; Caogen Zhiben Group Co.,
Ltd., Sichuan New Hope Real Estate Development Co., Ltd. and its majority-owned subsidiaries, Xingyuan Environmental
Technology Co., Ltd., are enterprises controlled by the same actual controller as the company. According to Shenzhen Stock
Exchange Listing Rules, the purchase and sale of products between the company and the above affiliates and their subordinate
companies constitute related party transaction. In 2023, the company would purchase meat products, breeding equipment, feed raw
materials and other products from its affiliates and their subordinate companies for no more than 5,749 million yuan, and that in
2022 was 3,296.7231 million yuan; receive services worth no more than 824 million yuan from its affiliates and their subordinate
companies, and that in 2022 was 455.3594 million yuan; rent assets for no more than 4.1 million yuan from its affiliates, and that
in 2022 was 5.1441 million yuan; and sell feeds, meat products and parts for no more than 1,197.9 million yuan to its affiliates and
their subordinate companies, and that in 2022 was 383.5779 million yuan. This matter has been deliberated and approved at the
company’s annual general meeting of 2022.
6. To make full use of the value of existing assets, integrate and utilize the advantageous industrial resources in the region,
further optimize the production capacity layout of the company in the advantageous regions of pig breeding, enhance the
competitiveness of the company’s main business and sustainable development ability, and help the implementation of local
industrial prosperity and rural revitalization strategy, Beijing New Hope Liuhe Biotechnology Industry Group Co., Ltd. (a
majority-owned subsidiary of the company) and its majority-owned subsidiaries decided to sign the Equity Transfer Agreement
with Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd. to sell the 7 pig farm project companies held by it and its
majority-owned subsidiaries in Sichuan and Chongqing to Xingxinxin. This transaction involves an amount of 1,317.1081 million
yuan, representing 3.93% of the company’s most recently audited net assets. It includes the equity transfer price of 111.3861
million yuan and the debt transfer price of 1,205.7220 million yuan. Xingxinxin is a related legal person of the company, and the
transaction between it and the company constitutes a related party transaction. This matter has been deliberated and approved at
the company’s annual general meeting of 2022.
7. At the 12th meeting of the 9th board of directors, the 9th meeting of the 9th board of supervisors and the annual general
meeting of 2022 of the company, the Proposal on Failure in Meeting the Lifting Conditions in the Fourth Lifting Period under the
Restricted Stock and Stock Option Incentive Plan 2019 and Repurchase and Cancellation of Restricted Stocks was deliberated and
approved. Given that the net profit of the company in 2022 was negative, not meeting the performance assessment requirements
set in the fourth lifting period under the Incentive Plan 2019, the company decided to repurchase and cancel a total of 438,750
restricted shares held by 15 incentive beneficiaries under the Incentive Plan 2019 that have not been released for sale in
accordance with the relevant provisions of the Measures for the Management of Equity Incentives of Listed Companies, Shenzhen
Stock Exchange Listed Companies Self-Regulatory Guide No. 1 - Business Handling Part III: 3.2 Equity Incentives, Restricted
Stock and Stock Option Incentive Plan 2019 (Draft) and the Assessment Management Measures of Restricted Stock and Stock
Option Incentive Plan 2019. The company handled and completed the repurchase and cancellation formalities for these restricted
stocks with CSDC Shenzhen on August 3, 2023.
8. At the 15th meeting of the 9th board of directors and the 11th meeting of the 9th board of supervisors, the Proposal on
Granting Reserved Restricted Stock to Incentive Beneficiaries was deliberated and approved. In accordance with the relevant
provisions of the Measures for the Management of Equity Incentives of Listed Companies and the Restricted Stock Incentive Plan
2022 and the authorization of the company’s annual general meeting of 2021, the board of directors of the company held that the
reserved grant conditions stipulated in the Restricted Stock Incentive Plan 2022 had been fulfilled, agreed on the reserved grant
date of this Incentive Plan as May 30, 2023, and agreed to reserve 8.095 million restricted shares for 377 incentive beneficiaries
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
meeting the grant conditions at a reserve grant price of 7.98 yuan/share. The company handled and completed the registration of
the reserved grant of this Restricted Stock Incentive Plan at CSDC Shenzhen on July 24, 2023 and the listing date of the restricted
stock is July 25, 2023.
XIV. Significant matters of the company’s subsidiaries
□applicable not applicable
Section 7 Changes in Shares and Information about Shareholders
I. Changes in shares
1. Changes in shares
Unit: share
Before Increase or decrease due to this change (+, -) After
Provid
B
ent
on
New fund
Proporti us
Amount shares conver Others Subtotal Amount Proportion
on sh
issued ted
ar
into
es
shares
I. Restricted -
36,547,079 0.81% -438,750 36,108,329 0.80%
shares 438,750
1. Shares
held by the
state
2. Shares
held by state-
owned legal
persons
3. Shares
held by other
-
domestic- 33,940,490 0.75% -438,750 33,501,740 0.74%
438,750
funded
entities
Wherein
: shares held
by domestic
legal persons
Shares
held by
-
domestic 33,940,490 0.75% -438,750 33,501,740 0.74%
438,750
natural
persons
4. Shares
held by 2,606,589 0.06% 2,606,589 0.06%
foreign
220
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capital
Wherein
: shares held
by overseas
legal persons
Shares
held by
overseas 2,606,589 0.06% 2,606,589 0.06%
natural
persons
II.
Unrestricted 4,502,211,016 99.19% 1,813 1,813 4,502,212,829 99.20%
shares
1. RMB
ordinary 4,502,211,016 99.19% 1,813 1,813 4,502,212,829 99.20%
shares
2. Foreign
shares listed
at home
3. Foreign
shares listed
abroad
4. Others
III. Total 100.00 -
4,538,758,095 -436,937 4,538,321,158 100.00%
shares % 436,937
Reasons for changes in shares
applicable □not applicable
(1) On February 1, 2023, the company repurchased and canceled the 438,750 restricted shares not been released for sale in the
third lifting period under the Incentive Plan 2019.
(2) Other increase was caused by the conversion of “Hope Convertible Bond 2”. During the reporting period, “Hope Convertible
Bond 2” cumulatively converted 1,813 shares.
Approval of changes in shares
applicable □not applicable
(1) The company’s repurchase and cancellation of the restricted shares under Incentive Plan 2019 and cancellation of stock
options were deliberated and approved at the 4th meeting of the 9th board of directors, the 9th meeting of the 9th board of
supervisors, and the second extraordinary general meeting in 2022 held on November 15, 2022.
(2) Other changes in shares were in accordance with laws, regulations and normative documents such as Shenzhen Stock
Exchange Listing Rules and theSelf-regulatory Guideline No.1 of Shenzhen Stock Exchange for Listed Companies - Standardized
Operation of Main Board Listed Companies, as well as relevant requirements of the Management Rules for the Shares of the
Company Held by Directors, Supervisors or Senior Executives of Listed Companies and Their Changes.
Title transfer of changes in shares
applicable □not applicable
221
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On February 1, 2023, the company finished the repurchase and cancellation of the restricted shares under Incentive Plan 2019
and cancellation of stock options with CSDC Shenzhen Branch, repurchasing and canceling a total of 438,750 restricted shares,
and canceling a total of 2,047,500 stock options.
Progress of share repurchase
□applicable not applicable
Progress of reducing share repurchased by centralized bidding
□applicable not applicable
The impact of changes in shares on financial indicators such as basic earnings per share and diluted earnings per share, net assets
per share attributable to ordinary shareholders of the company in the most recent year and the most recent period
□applicable not applicable
Other information deemed necessary by the company or required to be disclosed by securities regulators
□applicable not applicable
2. Changes in restricted shares
applicable □not applicable
Unit: share
Restricted Restricted
Beginning
shares shares Ending number Reasons for
Name of number of
released for increased in of restricted restriction on Date of release
shareholder restricted
sale in the the current shares sales
shares
current period period
Released in
installments
Locked shares of according to SZSE
Liu Chang 1,616,589 0 0 1,616,589
senior executives rules and
incumbency of
senior executives
Released in
installments
Liu Locked shares of according to SZSE
669,240 0 0 669,240
Yonghao senior executives rules and
incumbency of
senior executives
Released in
installments
Locked shares of according to SZSE
Wang Hang 45,000 0 0 45,000
senior executives rules and
incumbency of
senior executives
Released in
installments
Locked shares of according to SZSE
Cai Manli 7,500 0 0 7,500
senior executives rules and
incumbency of
senior executives
Released in
Restricted shares installments
Zhang
2,000,000 0 0 2,000,000 of equity according to the
Minggui
incentives company’s
performance target
222
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completion
Released in
installments
Restricted shares
Chen according to the
1,200,000 0 0 1,200,000 of equity
Xingyao company’s
incentives
performance target
completion
Released in
Locked shares of
installments
senior executives,
according to SZSE
Tao Yuling 1,368,750 56,250 0 1,312,500 restricted shares
rules and
of equity
incumbency of
incentives
senior executives
Released in
installments
Restricted shares
according to the
Lan Jia 1,000,000 0 0 1,000,000 of equity
company’s
incentives
performance target
completion
Released in
installments
Restricted shares
Wang according to the
900,000 0 0 900,000 of equity
Pusong company’s
incentives
performance target
completion
Released in
installments
Restricted shares
according to the
Huang Kun 900,000 0 0 900,000 of equity
company’s
incentives
performance target
completion
Released in
installments
Restricted shares
according to the
Li Shuang 900,000 0 0 900,000 of equity
company’s
incentives
performance target
completion
Released in
Other
installments
equity Restricted shares
according to the
incentive 25,940,000 382,500 0 25,557,500 of equity
company’s
beneficiarie incentives
performance target
s
completion
Total 36,547,079 438,750 0 36,108,329 -- --
II. Issuance and listing of securities
□applicable not applicable
III. Number of shareholders of the company and their shareholdings
Unit: share
Total number of ordinary Total number of preferred shareholders with resumed
shareholders at the end of 219,322 voting power at the end of the reporting period (if any) 0
the reporting period (see Note 8)
223
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Shareholders each holding over 5% shares or shareholdings of the top 10 shareholders
Pledge,
Number marking or
Increase or of freezing
Number of ordinary
Nature of Shareho decrease restricte Number of A
Name of shares held at the
sharehold lding within the d unrestricted m
shareholder end of the reporting
er ratio reporting ordinary ordinary shares held Share o
period
period shares status u
held n
t
Domestic
South Hope non-state-
Industrial owned 29.28% 1,328,957,185.00 0 0 1,328,957,185.00
Co., Ltd. legal
person
New Hope -
Topsperity
Securities -23 Domestic
Hope E1 non-state-
Guarantee owned 17.29% 784,455,413.00 784,455,413 0 784,455,413.00
and Trust legal
Property person
Special
Account
Domestic
New Hope non-state-
Group Co., owned 7.61% 345,424,279.00 -784,455,413 0 345,424,279.00
Ltd. legal
person
China Domestic
Securities non-state-
Finance owned 2.77% 125,602,591.00 0 0 125,602,591.00
Corporation legal
Ltd. person
Domestic
Tibet Strong
non-state-
Investment
owned 2.31% 104,769,426.00 0 0 104,769,426.00
Consulting
legal
Co., Ltd.
person
Tibet Domestic
Shancheng non-state-
Investment owned 2.06% 93,704,034.00 0 0 93,704,034.00
Consulting legal
Co., Ltd. person
Hong Kong
Overseas
Securities
legal 1.64% 74,401,024.00 -10,215,503 0 74,401,024.00
Clearing Co.,
person
Ltd.
Lhasa
Domestic
Development
non-state-
Area
owned 1.19% 53,893,592.00 0 0 53,893,592.00
Hezhiwang
legal
Industrial
person
Co., Ltd.
New Hope
Others 0.90% 40,933,250.00 0 0 40,933,250.00
Liuhe Co.,
224
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Ltd. -
Employee
Stock
Ownership
Plan 2022
Zheshang
Bank Co.,
Ltd. - Cathay
China
Securities
Animal
Husbandry Others 0.88% 39,924,830.00 18,313,157 0 39,924,830.00
Trading
Open-ended
Index
Securities
Investment
Fund
Remarks on related-party
New Hope Group is the controlling shareholder of South Hope, and both parties are persons acting
relationships among the
in concert with each other. Apart from that, the company is not aware of whether its top ten
aforesaid shareholders or
shareholders have other related-party relationships or actions in concert.
actions in concert
Remarks on
New Hope Group, the controlling shareholder of the company, has appointed “Topsperity
entrusted/fiduciary voting
Securities Co., Ltd.” as the trustee of the “New Hope - Topsperity Securities -23 Hope E1
rights and waiver of voting
Guarantee and Trust Property Special Account” to exercise the voting rights on behalf of New
rights involving the
Hope Group during the duration of the exchangeable corporate bonds.
aforesaid shareholders
Shareholdings of top 10 unrestricted shareholders.
Number of unrestricted shares Share category
Name of shareholder held at the end of the
reporting period Share category Amount
South Hope Industrial Co., Ltd. 1,328,957,185.00 RMB ordinary shares 1,328,957,185.00
New Hope - Topsperity Securities -23
Hope E1 Guarantee and Trust Property 784,455,413.00 RMB ordinary shares 784,455,413.00
Special Account
New Hope Group Co., Ltd. 345,424,279.00 RMB ordinary shares 345,424,279.00
China Securities Finance Corporation
125,602,591.00 RMB ordinary shares 125,602,591.00
Ltd.
Tibet Strong Investment Consulting Co.,
104,769,426.00 RMB ordinary shares 104,769,426.00
Ltd.
Tibet Shancheng Investment Consulting
93,704,034.00 RMB ordinary shares 93,704,034.00
Co., Ltd.
Hong Kong Securities Clearing Co., Ltd. 74,401,024.00 RMB ordinary shares 74,401,024.00
Lhasa Development Area Hezhiwang
53,893,592.00 RMB ordinary shares 53,893,592.00
Industrial Co., Ltd.
New Hope Liuhe Co., Ltd. - Employee
40,933,250.00 RMB ordinary shares 40,933,250.00
Stock Ownership Plan 2022
Zheshang Bank Co., Ltd. - Cathay China
Securities Animal Husbandry Trading
39,924,830.00 RMB ordinary shares 39,924,830.00
Open-ended Index Securities Investment
Fund
Remarks on related-party relationships or
New Hope Group is the controlling shareholder of South Hope, and both parties are
actions in concert among the top 10
persons acting in concert with each other. Apart from that, the company is not aware
unrestricted ordinary shareholders and
of whether its top ten shareholders have other related-party relationships or actions in
between the top 10 unrestricted ordinary
concert.
shareholders and the top 10 ordinary
225
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
shareholders
Whether the top 10 ordinary shareholders and top 10 unrestricted ordinary shareholders of the company conducted agreed
repurchase transactions within the reporting period
□yes no
The top 10 ordinary shareholders and top 10 unrestricted ordinary shareholders of the company did not conduct any agreed
repurchase transactions within the reporting period。
IV. Changes in shareholdings of directors, supervisors and senior executives
applicable □not applicable
Restricted
Restricted
Current stocks Restricted
Current stocks
Status decrease granted at stocks
Beginning increase in Ending granted
of in the granted at
Name Position shareholdin shareholdi shareholding within the
incum shareholdi beginning the end of
g (shares) ng (shares) reporting
bency ng of the the period
(shares) period
(shares) period (shares)
(shares)
(shares)
Vice
Tao Incum
presiden 1,425,000 0 56,250 1,368,750 0 0 0
Yuling bent
t
Total -- -- 1,425,000 0 56,250 1,368,750 0 0 0
V. Changes of controlling shareholder or actual controller
Change in the controlling shareholder during the reporting period
□applicable not applicable
The controlling shareholder of the company did not change during the reporting period.
Change of the actual controller during the reporting period
□applicable not applicable
The actual controller of the company did not change during the reporting period.
226
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Section 8 Details Related to Preferred Shares
□applicable not applicable
The company had no preferred shares during the reporting period.
227
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Section 9 Details Related to Bonds
applicable □not applicable
I. Enterprise bonds
□applicable not applicable
The company had no enterprise bonds during the reporting period.
II. Corporate bonds
□applicable not applicable
The company had no corporate bonds during the reporting period.
III. Debt financing instruments of non-financial enterprises
applicable □not applicable
1. Basic information about debt financing instruments of non-financial enterprises
Unit: 10,000 yuan
Method of
principal
Bond Inter Trad
Bond repayment
Bond name abbreviati Bond code Date issued Value date Due date est ing
balance and
on rate place
interest
payment
The first
Interest
phase of
paid
2021 21 Hope
annually, Inter
medium- Liuhe
and bank
term note (rural Mar. 17, Mar. 19, Mar. 19, 4.9
102100490 200,000 principal bond
(rural revitalizati 2021 2021 2024 %
repaid in mark
revitalizatio on)
lump sum et
n) of New MTN001
upon
Hope Liuhe
maturity
Co., Ltd.
Bonds that are overdue
□applicable not applicable
2. Trigger and enforcement of issuer or investor option clauses and investor protection clauses
□applicable not applicable
3. Adjustment to credit rating results during the reporting period
□applicable not applicable
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4. Performance and changes of guarantee, debt repayment plan and other debt repayment protection
measures during the reporting period and the impact on the rights and interests of bond investors
□applicable not applicable
IV. Convertible corporate bonds
applicable □not applicable
1. Previous adjustment and correction of share conversion price
The initial conversion price of convertible corporate bonds issued by the company (bond abbreviation: Hope Convertible
Bonds, bond code: 127015) was 19.78 yuan/share, which was adjusted from 19.78 yuan/share to 19.63 yuan/share on June 19,
2020 due to execution of the Equity Distribution Plan 2019 by the company.
As the company privately issued RMB ordinary shares to South Hope and New Hope Group, and the new shares were listed
for trading on Shenzhen Stock Exchange on October 29, 2020, the conversion price of “Hope Convertible Bonds” was adjusted
from 19.63 yuan/share to 19.75 yuan/share on October 29, 2020.
As the company granted restricted shares to 199 incentive beneficiaries following the Restricted Stock Incentive Plan 2022,
and the new shares were listed for trading on Shenzhen Stock Exchange on September 15, 2022, the conversion price of “Hope
Convertible Bonds” was adjusted from 19.75 yuan/share to 19.66 yuan/share on September 15, 2022.
The initial conversion price of convertible corporate bonds issued by the company (bond abbreviation: Hope Convertible
Bond 2, bond code: 127049) was 14.45 yuan/share, which was adjusted from 14.45 yuan/share to 14.40 yuan/share on September
15, 2022 since the company granted restricted shares to 199 incentive beneficiaries following the Restricted Stock Incentive Plan
2022 and the new shares were listed for trading on Shenzhen Stock Exchange on September 15, 2022.
As the company granted restricted shares to 370 incentive beneficiaries following the Restricted Stock Incentive Plan 2022,
and the new shares were listed for trading on Shenzhen Stock Exchange on July 25, 2023, the conversion price of “Hope
Convertible Bonds” was adjusted from 19.66 yuan/share to 19.64 yuan/share on July 25, 2023, and the conversion price of “Hope
Convertible Bond 2” was adjusted from 14.40 yuan/share to 14.36 yuan/share on July 25, 2023.
2. Accumulated conversion into shares
applicable □not applicable
Ratio of
Ratio of
number of
Accumu amount
shares
Start and lated of
Abbrevi Accumulat converted to
end date number Amount of outstandi
ation of Total issued ed amount total amount
of Total issue of outstanding ng
converti quantity of of issued
conversio amount shares conversion conversi
ble (pieces) conversion shares of the
n into converte (yuan) on to
bonds (yuan) company
shares d total
prior to start
(shares) issue
date of
amount
conversion
Hope
Jul. 9,
Convert 4,000,000,000. 3,050,519,4 155,132,
2020-Jan. 40,000,000 3.68% 949,480,600.00 23.74%
ible 00 00.00 014
2, 2026
Bonds
Hope May 9, 8,150,000,000. 6,392,900.0 8,143,607,100.0
81,500,000 442,316 0.01% 99.92%
Convert 2022-Nov. 00 0 0
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ible 1, 2027
Bond 2
3. Details of top 10 convertible bond holders
Number of Percentage of
Amount of
Nature of convertible convertible
convertible corporate
Name of convertible convertible corporate bonds corporate bonds
S/N bonds held at the end
corporate bond holder corporate bond held at the end of held at the end
of reporting period
holder reporting period of reporting
(yuan)
(pieces) period
MERRILL Overseas legal
1 599,991 59,999,100.00 6.32%
LYNCH INTERNATIONAL person
Fullgoal Fuyi Aggressive
Fixed-income Pension
2 Product - Industrial and Others 394,302 39,430,200.00 4.15%
Commercial Bank of China
Co., Ltd.
China Construction Bank Co.,
Ltd. - China-Europe New
3 Blue Chip Flexible Others 316,714 31,671,400.00 3.34%
Configuration Hybrid
Securities Investment Fund
China Life Pension Steady
No. 5 Fixed Income Pension
4 Product - Industrial and Others 286,995 28,699,500.00 3.02%
Commercial Bank of China
Co., Ltd.
Northwest Investment
Management (HK) Co., Ltd. - Overseas legal
5 239,996 23,999,600.00 2.53%
Northwest Feilong Fund Co., person
Ltd.
HZBank Wealth Management
Co., Ltd. - HZBank Wealth
6 Management Happiness 99 Others 228,450 22,845,000.00 2.41%
Tianyi 1-year Cyclical
Financial Plan Phase 2201
BNP Paribas - self-owned Overseas legal
7 220,000 22,000,000.00 2.32%
fund person
Industrial Bank Co., Ltd. -
Tianhong Multiple Benefits
8 Others 219,310 21,931,000.00 2.31%
Bond Securities Investment
Fund
Kunlun Health Insurance Co.,
9 Ltd. - traditional insurance Others 200,000 20,000,000.00 2.11%
product 1
China Minsheng Bank Co.,
Ltd. - ICBC Credit Suisse
10 Others 175,240 17,524,000.00 1.85%
Tianyi Bond Securities
Investment Fund
4. List of top 10 convertible bond holders of Hope Convertible Bond 2
Unit: share
230
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Number of
Percentage of
Nature of convertible Amount of convertible
convertible
Name of convertible corporate bond convertible corporate bonds corporate bonds held
S/N corporate bonds
holder corporate bond held at the end of at the end of reporting
held at the end of
holder reporting period period (yuan)
reporting period
(pieces)
China Minsheng Bank Co., Ltd. -
1 Everbright Pramerica Credit Tianyi Others 4,833,482 483,348,200 5.94%
Bond Securities Investment Fund
Domestic non-
2 South Hope Industrial Co., Ltd. state-owned legal 2,619,796 261,979,600 3.22%
person
Bank of China Co., Ltd. - Efund Income
3 Secured Bond Securities Investment Others 2,504,957 250,495,700 3.08%
Fund
Domestic non-
4 New Hope Group Co., Ltd. state-owned legal 1,968,506 196,850,600 2.42%
person
Industrial Bank Co., Ltd. - Tianhong
5
Yongli Bond Securities Investment Fund
Others 1,763,061 176,306,100 2.16%
China Construction Bank - Cathay
6 Shuangli Bond Securities Investment Others 1,647,036 164,703,600 2.02%
Fund
Bank of Communications Co., Ltd. -
7 Efund Return Secured Bond Securities Others 1,628,365 162,836,500 2.00%
Investment Fund
China Construction Bank Co., Ltd. -
Everbright Pramerica Incremental
8
Income Bond Securities Investment
Others 1,517,620 151,762,000 1.86%
Fund
Industrial Bank Co., Ltd. - Tianhong
9 Multiple Benefits Bond Securities Others 1,482,995 148,299,500 1.82%
Investment Fund
Industrial and Commercial Bank of
10 China Co., Ltd. - Tianhong Tianli Bond Others 1,417,171 141,717,100 1.74%
Securities Investment Fund (LOF)
5. Significant changes in profitability, asset condition and credit standing of guarantors
□applicable not applicable
6. Liabilities of the company at the end of the reporting period, changes in credit standing and cash
arrangement for repaying debts in the coming year
□applicable not applicable
V. Losses within the scope of consolidated statements exceeding 10% of the net assets as at
the end of the previous year during the reporting period
□applicable not applicable
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VI. Key accounting data and financial indicators of the company in the past two years as of
the end of the reporting period
Unit: 10,000 yuan
Increase or decrease at end of
Item End of this reporting period End of the previous year this reporting period from the
end of the previous year
Liquidity ratio 0.5768 0.7143 -19.25%
Asset-liability ratio 71.79% 68.02% 3.77%
Quick ratio 0.2836 0.3546 -20.02%
Increase or decrease in this
The same period of the reporting period from the
This reporting period
previous year same period of the previous
year
Profits net of non-recurring
-299,190.76 -367,994.55 18.70%
profit or loss
EBITDA total debt ratio 0.19% -2.33% 2.52%
Interest coverage ratio -1.57 -3.44 54.36%
Cash interest coverage ratio 1.67 -0.78 314.10%
EBITDA interest coverage
0.09 -1.21 107.44%
ratio
Loan repayment rate 100.00% 100.00%
Interest coverage 100.00% 100.00%
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Section 10 Financial Report
I. Auditor’s Report
Whether the semiannual report has been audited
□yes no
The company’s semiannual financial report was not audited.
II. Financial statements
The monetary unit in notes to financial statements is yuan.
1. Consolidated balance sheet
Prepared by: New Hope Liuhe Co., Ltd.
Jun. 30, 2023
Unit: yuan
Item Jun. 30, 2023 Jan. 1, 2023
Current Assets:
Monetary capital 11,150,787,210.19 11,512,430,182.35
Settlement reserve
Loans to other banks
Held-for-trading financial assets 77,510,307.04 148,914,177.97
Derivative financial assets
Notes receivable 338,242,870.10 78,757,410.00
Accounts receivable 1,937,293,872.45 1,285,865,849.45
Receivables financing
Prepayments 1,671,096,987.20 2,860,496,077.56
Insurance premiums receivable
Reinsurance accounts receivable
Provision for cession receivable
Other receivables 706,321,886.51 1,450,053,026.91
Wherein: interest receivable
Dividends receivable 6,000,000.00 6,000,000.00
Financial assets purchased for resale
Inventories 16,789,490,600.65 17,901,083,522.59
Contract assets
Held-for-sale assets
Non-current assets due in 1 year
Other current assets 355,436,014.78 311,691,270.13
Total Current Assets 33,026,179,748.92 35,549,291,516.96
Non-current Assets:
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Loans and advances made
Creditor’s rights investments
Other creditor’s rights investment
Long-term receivables
Long-term equity investments 26,512,423,398.26 26,256,101,521.11
Investments in other equity
315,248,826.38 315,248,826.38
instruments
Other non-current financial assets
Investment properties 168,615,996.59 173,146,710.26
Fixed assets 36,694,212,664.22 35,683,327,341.71
Construction in progress 20,275,114,273.59 20,157,929,735.51
Productive biological assets 6,991,181,620.46 7,576,647,898.07
Oil and gas assets
Right-of-use assets 5,693,421,082.55 6,095,819,071.51
Intangible assets 1,914,253,585.93 1,864,075,069.22
Development expenditure 24,472,094.71 17,782,988.08
Goodwill 1,209,971,223.09 1,209,971,223.09
Long-term deferred expenses 129,213,043.76 186,606,065.50
Deferred income tax assets 591,190,607.49 579,905,588.43
Other non-current assets 1,585,301,768.92 1,012,935,419.10
Total Non-current Assets 102,104,620,185.95 101,129,497,457.97
Total Assets 135,130,799,934.87 136,678,788,974.93
Current Liabilities:
Short-term borrowings 17,997,266,231.04 13,359,392,691.44
Borrowings from center bank
Loans from other banks
Held-for-trading financial liabilities 18,749,771.39 6,103,030.77
Derivative financial liabilities
Notes payable 4,532,396,707.28 2,732,895,395.82
Accounts payable 10,310,425,622.25 11,564,714,386.86
Advance receipts
Contract liabilities 2,249,428,800.69 2,173,108,069.79
Financial assets sold for repurchase
Deposits taken and interbank deposits
Proceeds from vicariously traded
securities
Proceeds from vicariously
underwritten securities
Payroll payable 1,147,000,752.97 1,045,666,091.37
Taxes and dues payable 365,665,805.62 402,664,374.00
Other payables 4,702,964,409.91 4,764,414,565.79
Wherein: interest payable
Dividends payable 54,676,437.52 50,538,246.74
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Handling fee and commission payable
Cession insurance premiums payable
Held-for-sale liabilities
Non-current liabilities due in 1 year 15,852,231,994.75 13,659,393,321.40
Other current liabilities 84,528,612.88 59,634,114.69
Total Current Liabilities 57,260,658,708.78 49,767,986,041.93
Non-current Liabilities:
Provision for insurance contracts 219,194,072.91 179,733,263.89
Long-term borrowings 25,939,596,845.54 27,527,873,389.95
Bonds payable 8,294,744,826.71 10,095,505,490.77
Incl.: preferred shares
Perpetual bonds
Lease liabilities 4,446,693,733.14 4,719,055,556.37
Long-term payables 336,318,277.30 165,515,620.11
Long-term payroll payable
Estimated liabilities
Deferred income 445,014,825.05 433,295,564.49
Deferred income tax liabilities 73,443,011.23 74,636,369.06
Other non-current liabilities
Total Non-current Liabilities 39,755,005,591.88 43,195,615,254.64
Total liabilities 97,015,664,300.66 92,963,601,296.57
Owner’s Equity:
Share capital 4,538,321,158.00 4,538,758,095.00
Other equity instruments 3,219,901,928.24 3,189,909,115.83
Incl.: preferred shares
Perpetual bonds 1,230,000,000.00 1,200,000,000.00
Capital reserve 9,403,630,915.22 10,535,939,704.17
Minus: treasury stock 1,071,692,796.47 1,079,190,858.47
Other comprehensive income -702,275,772.44 -864,757,065.97
Appropriative reserve
Surplus reserve 3,450,358,461.87 3,450,852,957.31
General risk reserve
Undistributed profits 6,453,981,933.32 9,472,252,710.50
Total owner’s equity attributable to the
25,292,225,827.74 29,243,764,658.37
parent company
Minority interests 12,822,909,806.47 14,471,423,019.99
Total Owner’s Equity 38,115,135,634.21 43,715,187,678.36
Total Liabilities and Owner’s Equity 135,130,799,934.87 136,678,788,974.93
Legal representative: Liu Chang Chief accountant: Chen Xingyao Person in charge of accounting organization: Su Xiaodan
2. Balance sheet of the parent company
Unit: yuan
Item Jun. 30, 2023 Jan. 1, 2023
Current Assets:
Monetary capital 5,582,640,731.40 7,568,592,612.44
Held-for-trading financial assets
235
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Derivative financial assets
Notes receivable 10,299,666.54
Accounts receivable 58,212.30 1,213,169.85
Receivables financing
Prepayments 13,041,382.70 13,802,350.16
Other receivables 79,876,697,044.71 76,843,094,867.65
Wherein: interest receivable
Dividends receivable 427,379,820.86 458,939,437.50
Inventories 19,536,462.16 43,343,566.44
Contract assets
Held-for-sale assets
Non-current assets due in 1 year
Other current assets 126,332,967.91 102,639,266.07
Total Current Assets 85,628,606,467.72 84,572,685,832.61
Non-current Assets:
Creditor’s rights investments
Other creditor’s rights investment
Long-term receivables
Long-term equity investments 18,533,454,352.81 17,072,490,302.03
Investments in other equity
211,196,000.00 211,196,000.00
instruments
Other non-current financial assets
Investment properties
Fixed assets 20,467,494.96 25,896,407.23
Construction in progress 357,000.00 2,093,037.69
Productive biological assets
Oil and gas assets
Right-of-use assets 11,889,265.22 19,869,089.19
Intangible assets 2,969,848.91 4,375,850.73
Development expenditure 1,042,031.22 745,389.48
Goodwill
Long-term deferred expenses 1,268,351.32 2,161,794.26
Deferred income tax assets 1,893,262.23 6,589,470.17
Other non-current assets 520,518,089.51 15,654,483.37
Total Non-current Assets 19,305,055,696.18 17,361,071,824.15
Total Assets 104,933,662,163.90 101,933,757,656.76
Current Liabilities:
Short-term borrowings 6,659,802,406.47 4,064,378,079.63
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 105,736,951.08 88,269,220.70
Accounts payable 21,556,948.03 48,318,571.48
Advance receipts
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Contract liabilities 21,225,041.95 61,639,790.73
Payroll payable 21,694,983.85 22,179,161.72
Taxes and dues payable 20,069,694.65 18,058,763.35
Other payables 49,670,537,678.32 49,556,564,467.06
Wherein: interest payable
Dividends payable
Held-for-sale liabilities
Non-current liabilities due in 1 year 6,776,829,604.72 5,447,107,858.72
Other current liabilities
Total Current Liabilities 63,297,453,309.07 59,306,515,913.39
Non-current Liabilities:
Long-term borrowings 11,658,898,844.05 10,592,118,242.38
Bonds payable 8,294,744,826.71 10,095,505,490.77
Incl.: preferred shares
Perpetual bonds
Lease liabilities 1,065,088.21 4,609,148.49
Long-term payables
Long-term payroll payable
Estimated liabilities
Deferred income 15,853,234.27 13,697,757.68
Deferred income tax liabilities
Other non-current liabilities
Total Non-current Liabilities 19,970,561,993.24 20,705,930,639.32
Total liabilities 83,268,015,302.31 80,012,446,552.71
Owner’s Equity:
Share capital 4,538,321,158.00 4,538,758,095.00
Other equity instruments 3,219,901,928.24 3,189,909,115.83
Incl.: preferred shares
Perpetual bonds 1,230,000,000.00 1,200,000,000.00
Capital reserve 11,387,579,550.16 11,263,661,726.93
Minus: treasury stock 1,071,692,796.47 1,079,190,858.47
Other comprehensive income
Appropriative reserve
Surplus reserve 1,147,599,491.62 1,147,599,491.62
Undistributed profits 2,443,937,530.04 2,860,573,533.14
Total Owner’s Equity 21,665,646,861.59 21,921,311,104.05
Total Liabilities and Owner’s Equity 104,933,662,163.90 101,933,757,656.76
3. Consolidated income statement
Unit: yuan
Item Half year of 2023 Half year of 2022
I. Total business revenue 69,452,880,446.14 62,329,531,076.64
Wherein: business revenue 69,452,880,446.14 62,329,531,076.64
Interest income
Earned premiums
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Revenue from handling fee and commission
II. Total operating costs 72,944,406,595.52 66,412,976,672.46
Wherein: operating cost 68,196,429,382.49 62,063,554,174.37
Interest expenditure
Expenditure on handling fee and commission
Surrender value
Net indemnities paid
Net provision for insurance liabilities accrued 44,858,396.51 19,205,541.64
Policy dividend payout
Reinsurance costs
Taxes and surcharges 132,468,529.24 109,653,394.49
Selling expenses 927,000,996.81 877,736,004.72
General and administrative expenses 2,476,707,410.51 2,431,811,072.08
R&D expenses 137,433,942.89 150,034,607.92
Financial expenses 1,029,507,937.07 760,981,877.24
Wherein: interest expense 1,015,887,924.02 755,642,004.97
Interest income 65,172,165.77 91,683,189.02
Plus: other income 132,408,506.45 102,592,711.89
Investment income (“-” for loss) 1,066,870,403.12 1,051,106,361.78
Wherein: income on investment in affiliates and joint
1,016,415,308.30 1,026,435,491.87
ventures
Income from de-recognition of financial assets
measured at amortized cost
Exchange gains (“-” for loss)
Income on net exposure hedging (“-” for loss)
Income from change in fair value (“-” for loss) -60,100,451.27 -1,254,312.12
Credit impairment loss (“-” for loss) -31,980,578.96 -64,187,529.66
Asset impairment loss (“-” for loss) -884,764,393.43 -1,328,087,107.41
Income from asset disposal (“-” for loss) 98,943,162.11 8,121,268.04
III. Operating profits (“-” for loss) -3,170,149,501.36 -4,315,154,203.30
Plus: non-business revenue 62,923,600.47 50,176,226.42
Minus: non-business expenditure 323,748,335.88 759,373,021.68
IV. Total profits (“-” for total loss) -3,430,974,236.77 -5,024,350,998.56
Minus: income tax expense 161,590,170.27 140,757,923.12
V. Net profits (“-” for net loss) -3,592,564,407.04 -5,165,108,921.68
(I) Classified by business continuity
1. Net profits from continuous operations (“-” for net loss) -3,592,564,407.04 -5,165,108,921.68
2. Net profits from discontinued operations (“-” for net loss)
(II) Classified by ownership
1. Net profits attributable to shareholders of the parent company
-2,982,653,024.87 -4,139,743,764.00
(“-” for net loss)
2. Minority shareholder’s profit or loss (“-” for net loss) -609,911,382.17 -1,025,365,157.68
VI. Other comprehensive income net of tax 185,408,597.25 -152,595,487.50
Other comprehensive income net of tax attributable to the owner of
159,019,899.95 -141,415,160.34
the parent company
(I) Other comprehensive income that cannot be reclassified to 22,080,071.25 -1,252,770.00
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profit or loss
1. Change in defined benefit plan re-measured
2. Other comprehensive income that cannot be converted to
22,080,071.25 -1,252,770.00
profit or loss under the equity method
3. Change in fair value of investments in other equity
instruments
4. Change in fair value of credit risk to the company
5. Other
(II) Other comprehensive income to be reclassified into profit or
136,939,828.70 -140,162,390.34
loss
1. Other comprehensive income that can be converted to profit
57,001,035.00 -33,532,550.92
or loss under the equity method
2. Change in the fair value of other creditor’s rights
investments
3. Amount of financial assets reclassified into other
comprehensive income
4. Provisions for credit impairment of other creditor’s rights
investments
5. Cash flow hedging reserve
6. Translation difference of foreign currency financial
79,938,793.70 -106,629,839.42
statements
7. Other
Other comprehensive income net of tax attributable to minority
26,388,697.30 -11,180,327.16
shareholders
VII. Total comprehensive income -3,407,155,809.79 -5,317,704,409.18
Total comprehensive income attributable to the owner of the parent
-2,823,633,124.92 -4,281,158,924.34
company
Total comprehensive income attributable to minority shareholders -583,522,684.87 -1,036,545,484.84
VIII. Earnings per share:
(I) Basic earnings per share -0.67 -0.93
(II) Diluted earnings per share -0.67 -0.93
In case of business combination under the common control during this period, the net profits reported by the combined party
before consolidation was 0 yuan, and the net profits reported by the combined party in the previous period was: 0 yuan.
Legal representative: Liu Chang Chief accountant: Chen Xingyao Person in charge of accounting organization: Su Xiaodan
4. Income statement of the parent company
Unit: yuan
Item Half year of 2023 Half year of 2022
I. Operating revenue 337,761,261.85 382,749,474.93
Minus: operating cost 334,692,681.57 352,875,726.01
Taxes and surcharges 1,472,108.31 1,689,177.94
Selling expenses 4,854,935.40 5,503,249.96
General and administrative expenses 155,892,358.41 81,111,652.36
R&D expenses 16,181,457.31 7,184,446.87
Financial expenses 442,630,415.45 235,575,650.85
Wherein: interest expense 783,209,768.00 707,112,143.55
Interest income 363,259,745.47 500,501,290.30
Plus: other income 16,096,284.10 3,834,799.37
Investment income (“-” for loss) 173,857,032.62 523,558,425.65
Wherein: income on investment in affiliates and joint 36,886,574.67 5,185,004.86
239
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ventures
Income from de-recognition of financial assets
measured at amortized cost (“-” for loss)
Income on net exposure hedging (“-” for loss)
Income from change in fair value (“-” for loss)
Credit impairment loss (“-” for loss) 10,191,395.87 -3,208,766.60
Asset impairment loss (“-” for loss)
Income from asset disposal (“-” for loss) 37,494,095.86 727.78
II. Operating profits (“-” for loss) -380,323,886.15 222,994,757.14
Plus: non-business revenue 1,442,523.61 1,343,502.68
Minus: non-business expenditure 39,711.57 115,903.74
III. Total profits (“-” for total loss) -378,921,074.11 224,222,356.08
Minus: income tax expense 5,064,074.82 -773,979.74
IV. Net profits (“-” for net loss) -383,985,148.93 224,996,335.82
(I) Net profits from continuous operations (“-” for net loss) -383,985,148.93 224,996,335.82
(II) Net profits from discontinued operations (“-” for net loss)
V. Other comprehensive income net of tax 9,101.71
(I) Other comprehensive income that cannot be reclassified to
profit or loss
1. Change in defined benefit plan re-measured
2. Other comprehensive income that cannot be converted to
profit or loss under the equity method
3. Change in fair value of investments in other equity
instruments
4. Change in fair value of credit risk to the company
5. Other
(II) Other comprehensive income to be reclassified into profit or
9,101.71
loss
1. Other comprehensive income that can be converted to profit
9,101.71
or loss under the equity method
2. Change in the fair value of other creditor’s rights
investments
3. Amount of financial assets reclassified into other
comprehensive income
4. Provisions for credit impairment of other creditor’s rights
investments
5. Cash flow hedging reserve
6. Translation difference of foreign currency financial
statements
7. Other
VI. Total comprehensive income -383,985,148.93 225,005,437.53
VII. Earnings per share:
(I) Basic earnings per share
(II) Diluted earnings per share
5. Consolidated cash flow statement
Unit: yuan
Item Half year of 2023 Half year of 2022
I. Cash flows from operating activities:
Cash received from sale of commodities and provisin of service 69,900,403,142.80 63,319,404,447.54
Net increase in customer’s deposits and interbank deposits
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Net increase in borrowings from center bank
Net increase in borrowings from other financial institutions
Cash received from premium of original insurance contract
Net amount of cash from reinsurance business
Net increase in policyholder’s deposits and investments
Cash received as interest, handling fee or commission
Net increase in borrowing funds
Net increase in funds for repurchase
Net amount of cash from vicariously traded securities
Tax rebates received 36,095,457.57 100,145,743.17
Other cash received in connection with operating activities 689,340,432.74 610,052,611.47
Subtotal of cash inflows from operating activities 70,625,839,033.11 64,029,602,802.18
Cash used to pay for goods or services 61,852,521,642.95 57,644,988,338.96
Net increase in customer’s loans and advances
Net increase in deposits with central bank and interbank deposits
Cash paid as premium of original insurance contract
Net increase in lending funds
Cash paid as interest, handling fee or commission
Cash paid as policyholder’s dividends
Cash paid to and for employees 4,596,628,318.94 4,353,947,931.46
Taxes and fees paid 462,963,262.89 427,804,711.40
Other cash paid in connection with operating activities 1,731,671,160.19 2,736,388,974.82
Subtotal of cash outflows from operating activities 68,643,784,384.97 65,163,129,956.64
Net cash flows from operating activities 1,982,054,648.14 -1,133,527,154.46
II. Cash flows from investing activities:
Cash received from recovery of investments 487,221,166.96 23,139,619.03
Cash received from investment income 468,915,029.79 734,593,880.06
Net cash recovered from disposal of fixed assets, intangible assets
109,114,521.65 125,555,069.31
and other long-term assets
Net cash received from disposal of subsidiaries and other business
258,775,327.97
units
Other cash received in connection with investing activities 271,931,955.40 108,562,993.32
Subtotal of cash inflows from investing activities 1,595,958,001.77 991,851,561.72
Cash paid for purchase and construction of fixed assets, intangible
2,458,986,258.75 4,261,927,323.66
assets and other long-term assets
Cash paid for investment 74,797,384.09 831,069,480.47
Net increase in pledge loan
Net cash paid for acquisition of subsidiaries and other business units 6,072,582.05 42,443,203.19
Other cash disbursements related to investing activities 256,725,147.56 122,582,506.09
Subtotal of cash outflows from investing activities 2,796,581,372.45 5,258,022,513.41
Net cash flows from investing activities -1,200,623,370.68 -4,266,170,951.69
III. Cash flows from financing activities
Cash received from acquisition of investments 430,000,000.00 711,100,000.00
Wherein: cash received from acquisition of minority shareholder
200,000,000.00 511,100,000.00
investments in subsidiaries
Cash received from borrowings 26,251,300,472.86 23,498,541,659.58
Other cash received in connection with financing activities 383,724,947.50 63,437,014.98
Subtotal of cash inflows from financing activities 27,065,025,420.36 24,273,078,674.56
Cash paid for debt repayment 23,476,665,319.59 17,330,261,422.26
Cash paid for distribution of dividends and profits or payment of
1,763,933,423.89 1,715,829,067.42
interest
Wherein: dividends and profits paid by subsidiaries to minority 405,147,858.17 355,061,728.94
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shareholders
Other cash paid in connection with financing activities 3,189,618,010.68 3,378,838,383.77
Subtotal of cash outflows from financing activities 28,430,216,754.16 22,424,928,873.45
Net cash flows from financing activities -1,365,191,333.80 1,848,149,801.11
IV. Effect of exchange rate fluctuation on cash and cash equivalents -27,744,336.41 -48,923,563.06
V. Net increase in cash and cash equivalents -611,504,392.75 -3,600,471,868.10
Plus: beginning balance of cash and cash equivalents 9,714,019,174.24 14,292,784,234.11
VI. Ending balance of cash and cash equivalents 9,102,514,781.49 10,692,312,366.01
6. Cash flow statement of the parent company
Unit: yuan
Item Half year of 2023 Half year of 2022
I. Cash flows from operating activities:
Cash received from sale of commodities and provisin of service 328,933,182.66 396,924,522.81
Tax rebates received
Other cash received in relation to operating activities 490,455,115.45 353,138,040.26
Subtotal of cash inflows from operating activities 819,388,298.11 750,062,563.07
Cash used to pay for goods or services 306,999,823.47 413,691,514.31
Cash paid to and for employees 70,297,951.71 61,395,797.67
Taxes and fees paid 4,355,712.65 7,002,021.11
Other cash paid in connection with operating activities 255,218,221.52 232,746,500.08
Subtotal of cash outflows from operating activities 636,871,709.35 714,835,833.17
Net cash flows from operating activities 182,516,588.76 35,226,729.90
II. Cash flows from investing activities:
Cash received from recovery of investments
Cash received from investment income 159,095,074.59 697,714,258.99
Net cash recovered from disposal of fixed assets, intangible assets
4,751,664.11 10,725.26
and other long-term assets
Net cash received from disposal of subsidiaries and other business
units
Other cash received in connection with investing activities
Subtotal of cash inflows from investing activities 163,846,738.70 697,724,984.25
Cash paid for purchase and construction of fixed assets, intangible
3,343,535.15 3,758,738.86
assets and other long-term assets
Cash paid for investment 680,000,000.00
Net cash paid for acquisition of subsidiaries and other business units 100,000,000.00
Other cash disbursements related to investing activities 2,961,628,359.25 5,450,928,565.45
Subtotal of cash outflows from investing activities 3,064,971,894.40 6,134,687,304.31
Net cash flows from investing activities -2,901,125,155.70 -5,436,962,320.06
III. Cash flows from financing activities
Cash received from acquisition of investments 230,000,000.00 200,000,000.00
Cash received from borrowings 13,302,302,913.52 8,381,409,968.23
Other cash received in connection with financing activities 83,724,947.50
Subtotal of cash inflows from financing activities 13,616,027,861.02 8,581,409,968.23
Cash paid for debt repayment 10,231,895,993.64 5,885,728,299.39
Cash paid for distribution of dividends and profits or payment of
605,682,468.13 381,696,121.16
interest
Other cash paid in connection with financing activities 2,036,057,542.21 1,343,795,708.57
Subtotal of cash outflows from financing activities 12,873,636,003.98 7,611,220,129.12
Net cash flows from financing activities 742,391,857.04 970,189,839.11
IV. Effect of exchange rate fluctuation on cash and cash equivalents 264,828.86 124,180.42
V. Net increase in cash and cash equivalents -1,975,951,881.04 -4,431,421,570.63
Plus: beginning balance of cash and cash equivalents 6,433,112,497.52 10,772,339,386.69
VI. Ending balance of cash and cash equivalents 4,457,160,616.48 6,340,917,816.06
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7. Consolidated statement of changes in equity
Current amount
Unit: yuan
Half year of 2023
Owner’s equity attributable to the parent company
Other equity Oth Tota
instruments Min er App Und l
Gen Min Ow
Item Shar Capi us: com ropr Surp istri ority
Pref Perp eral ner’
e tal treas preh iativ lus bute Oth Subt inter
erre etua risk s
capi Oth rese ury ensi e rese d ers otal ests
d l rese Equi
tal ers rve stoc ve rese rve prof
shar bon rve ty
k inco rve its
es ds me
10,5 - 29,2 14,4 43,7
I. Ending 4,53 1,20 1,98 1,07 3,45 9,47
35,9 864, 43,7 71,4 15,1
balance of 8,75 0,00 9,90 9,19 0,85 2,25
39,7 757, 64,6 23,0 87,6
the previous 8,09 0,00 9,11 0,85 2,95 2,71
04.1 065. 58.3 19.9 78.3
year 5.00 0.00 5.83 8.47 7.31 0.50
7 97 7 9 6
Plus:
changes in
accounting
policies
Co
rrection of
previous
errors
Me
rger of
enterprises
under the
same control
Ot
hers
II. 10,5 - 29,2 14,4 43,7
4,53 1,20 1,98 1,07 3,45 9,47
Beginning 35,9 864, 43,7 71,4 15,1
8,75 0,00 9,90 9,19 0,85 2,25
balance of 39,7 757, 64,6 23,0 87,6
8,09 0,00 9,11 0,85 2,95 2,71
the current 04.1 065. 58.3 19.9 78.3
5.00 0.00 5.83 8.47 7.31 0.50
year 7 97 7 9 6
III. Increase - - - - -
- 30,0 - 162, -
or decrease - 1,13 3,01 3,95 1,64 5,60
436, 00,0 7,49 481, 494,
in the current 7,18 2,30 8,27 1,53 8,51 0,05
937. 00.0 8,06 293. 495.
period (“-” 7.59 8,78 0,77 8,83 3,21 2,04
00 0 2.00 53 44
for decrease) 8.95 7.18 0.63 3.52 4.15
- - - -
159,
(I) Total 2,98 2,82 583, 3,40
019,
comprehensi 2,65 3,63 522, 7,15
899.
ve income 3,02 3,12 684. 5,80
95
4.87 4.92 87 9.79
(II) Capital - 30,0 - - - - -
-
invested or 436, 00,0 1,13 7,49 1,09 655, 1,75
7,18
reduced by 937. 00.0 3,71 8,06 6,66 848, 2,50
7.59
owners 00 0 5,49 2.00 1,55 022. 9,58
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7.31 9.90 06 1.96
- - - -
1. Ordinary
1,25 1,25 646, 1,89
shares
0,74 0,74 695, 7,44
invested by
8,68 8,68 496. 4,18
owners
9.18 9.18 27 5.45
2. Capital
contribution 30,0 30,0 30,0
- 26,7 -
from other 1,81 00,0 26,5 26,5
7,18 56.2 5,15
equity 3.00 00.0 39.2 39.2
7.59 9 7.51
instrument 0 1 1
holders
3. Amount of
share-based - 117, - 124, 130,
6,72
payment 438, 170, 7,49 224, 945,
0,33
included in 750. 733. 2,90 888. 221.
3.00
owner’s 00 94 4.49 43 43
equity
- -
- -
15,8 16,0
164, 164,
4. Others 72,8 37,1
298. 298.
58.7 57.1
36 36
9 5
- - - -
-
32,1 32,6 409, 441,
(III) Profit 494,
56,3 50,8 286, 936,
distribution 495.
58.7 54.1 048. 903.
44
3 7 95 12
1.
Appropriatio
n of surplus
reserve
2.
Appropriatio
n of general
risk reserve
- -
3.
65,8 65,8 409, 409,
Distribution
12.5 12.5 286, 220,
to owners (or
0 0 048. 236.
shareholders)
95 45
- - -
-
32,2 32,7 32,7
494,
4. Others 22,1 16,6 16,6
495.
71.2 66.6 66.6
44
3 7 7
(IV) Internal -
3,46
carryover of 3,46
1,39
owner’s 1,39
3.58
equity 3.58
1. Capital
reserve
converted
into capital
(or share
244
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capital)
2. Surplus
reserve
converted
into capital
(or share
capital)
3. Loss
covered by
surplus
reserve
4. Change in
defined
benefit plan
carried
forward to
retained
earnings
5. Other
comprehensi
-
ve income 3,46
3,46
carried 1,39
1,39
forward to 3.58
3.58
retained
earnings
6. Others
(V)
Appropriativ
e reserve
1.
Appropriatio
n in the
current
period
2.
Application
in the current
period
1,40 1,40 143, 1,55
(VI) Others 6,70 6,70 542. 0,25
8.36 8.36 36 0.72
- 25,2 12,8 38,1
IV. Ending 4,53 1,23 1,98 9,40 1,07 3,45 6,45
702, 92,2 22,9 15,1
balance of 8,32 0,00 9,90 3,63 1,69 0,35 3,98
275, 25,8 09,8 35,6
current 1,15 0,00 1,92 0,91 2,79 8,46 1,93
772. 27.7 06.4 34.2
period 8.00 0.00 8.24 5.22 6.47 1.87 3.32
44 4 7 1
Amount of last year
Unit: yuan
Half year of 2022
Owner’s equity attributable to the parent company Min Tota
Item
Shar Other equity Capi Min Oth App Surp Gen Und Oth Subt ority l
e instruments tal us: er ropr lus eral istri ers otal inter Ow
245
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capi rese treas com iativ rese risk bute ests ner’
Pref Perp
tal rve ury preh e rve rese d s
erre etua
Oth stoc ensi rese rve prof Equi
d l
ers k ve rve its ty
shar bon
inco
es ds
me
10,3 - 11,1 33,5 12,9 46,4
I. Ending 4,50 3,80 1,99 1,18 3,39
44,8 496, 82,9 38,5 41,0 79,6
balance of 5,21 9,20 1,36 9,15 0,83
67,3 733, 64,1 53,8 89,9 43,7
the previous 1,34 0,00 6,60 5,26 2,66
87.8 080. 66.8 19.7 57.6 77.3
year 2.00 0.00 5.61 1.99 0.13
7 74 6 4 1 5
Plus:
changes in
accounting
policies
Co
rrection of
previous
errors
Me
rger of
enterprises
under the
same control
Ot
hers
II. 10,3 - 11,1 33,5 12,9 46,4
4,50 3,80 1,99 1,18 3,39
Beginning 44,8 496, 82,9 38,5 41,0 79,6
5,21 9,20 1,36 9,15 0,83
balance of 67,3 733, 64,1 53,8 89,9 43,7
1,34 0,00 6,60 5,26 2,66
the current 87.8 080. 66.8 19.7 57.6 77.3
2.00 0.00 5.61 1.99 0.13
year 7 74 6 4 1 5
III. Increase - - - - - -
- - 174, - -
or decrease 2,56 141, 4,29 6,81 1,11 7,93
120, 168, 024, 2,93 1,26
in the current 0,00 415, 2,53 8,54 6,34 4,89
268. 639. 059. 4,60 6,83
period (“-” 0,00 160. 3,81 6,05 5,94 1,99
00 36 33 5.65 3.67
for decrease) 0.00 34 3.98 0.37 3.55 3.92
- - - - -
(I) Total 141, 4,13 4,28 1,03 5,31
comprehensi 415, 9,74 1,15 6,54 7,70
ve income 160. 3,76 8,92 5,48 4,40
34 4.00 4.34 4.84 9.18
- - -
(II) Capital - - 162, - - 348,
2,56 1,26 2,39 2,04
invested or 120, 168, 248, 2,93 1,26 863,
0,00 6,83 5,10 6,24
reduced by 268. 639. 070. 4,60 6,83 633.
0,00 3.67 6,23 2,59
owners 00 36 14 5.65 3.67 14
0.00 1.57 8.43
1. Ordinary 167, 167, 336, 503,
shares 899, 899, 000, 900,
0.00 0.00
invested by 271. 271. 728. 000.
owners 07 07 93 00
2. Capital - - -
- -
contribution 48,4 2,56 682, 2,55 2,55
168, 52,7
from other 82.0 0,00 126. 9,38 9,38
639. 19.3
equity 0 0,00 08 5,31 5,31
36 1
instrument 0.00 1.97 1.97
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holders
3. Amount of
share-based - - -
986, 986,
payment 168, 1,72 2,88
273. 273.
included in 750. 6,86 1,88
46 46
owner’s 00 2.88 6.34
equity
- - - 12,8
1,26 8,25
4,60 1,26 4,60 62,9
4. Others 6,83 6,44
6,46 6,83 6,46 04.2
3.67 0.08
4.13 3.67 4.13 1
- - - -
154, 154, 431, 585,
(III) Profit
056, 056, 850, 907,
distribution
883. 883. 536. 420.
65 65 68 33
1.
Appropriatio
n of surplus
reserve
2.
Appropriatio
n of general
risk reserve
- -
3.
431, 431,
Distribution
850, 850,
to owners (or
536. 536.
shareholders)
68 68
- - -
154, 154, 154,
4. Others 056, 056, 056,
883. 883. 883.
65 65 65
(IV) Internal
carryover of
owner’s
equity
1. Capital
reserve
converted
into capital
(or share
capital)
2. Surplus
reserve
converted
into capital
(or share
capital)
3. Loss
covered by
surplus
reserve
4. Change in
247
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defined
benefit plan
carried
forward to
retained
earnings
5. Other
comprehensi
ve income
carried
forward to
retained
earnings
6. Others
(V)
Appropriativ
e reserve
1.
Appropriatio
n in the
current
period
2.
Application
in the current
period
11,7 11,7 14,9
3,18
75,9 75,9 62,4
(VI) Others 6,44
89.1 89.1 34.0
4.83
9 9 2
10,5 - 26,7 11,8 38,5
IV. Ending 4,50 1,24 1,99 1,18 3,38 6,89
18,8 638, 20,0 24,7 44,7
balance of 5,09 9,20 1,19 6,22 9,56 0,43
91,4 148, 07,7 44,0 51,7
current 1,07 0,00 7,96 0,65 5,82 0,35
47.2 241. 69.3 14.0 83.4
period 4.00 0.00 6.25 6.34 6.46 2.88
0 08 7 6 3
8. Statement of changes in equity of the parent company
Current amount
Unit: yuan
Half year of 2023
Other equity instruments Other
Minus Appro
Capita compr Surplu Undist Total
Item : priativ
Share Prefer Perpet l ehensi s ribute Owne
treasu e Others
capital red ual Others reserv ve reserv d r’s
ry reserv
shares bonds e incom e profits Equity
stock e
e
I. Ending 11,26 21,92
4,538, 1,200, 1,989, 1,079, 1,147, 2,860,
balance of 3,661, 1,311,
758,0 000,0 909,1 190,8 599,4 573,5
the previous 726.9 104.0
95.00 00.00 15.83 58.47 91.62 33.14
year 3 5
Plus:
changes in
248
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accounting
policies
Co
rrection of
previous
errors
Ot
hers
II.
11,26 21,92
Beginning 4,538, 1,200, 1,989, 1,079, 1,147, 2,860,
3,661, 1,311,
balance of 758,0 000,0 909,1 190,8 599,4 573,5
726.9 104.0
the current 95.00 00.00 15.83 58.47 91.62 33.14
3 5
year
III. Increase
- - -
or decrease - 30,00 - 123,9
7,498, 416,6 255,6
in the current 436,9 0,000. 7,187. 17,82
062.0 36,00 64,24
period (“-” 37.00 00 59 3.23
0 3.10 2.46
for decrease)
- -
(I) Total
383,9 383,9
comprehensi
85,14 85,14
ve income
8.93 8.93
(II) Capital -
- 30,00 - 123,9 160,9
invested or 7,498,
436,9 0,000. 7,187. 17,82 71,76
reduced by 062.0
37.00 00 59 3.23 0.64
owners 0
1. Ordinary
shares
invested by
owners
2. Capital
contribution
30,00 - - 30,02
from other 1,813. 26,75
0,000. 7,187. 5,157. 6,539.
equity 00 6.29
00 59 51 21
instrument
holders
3. Amount of
share-based -
- 123,8 130,9
payment 7,492,
438,7 91,06 45,22
included in 904.4
50.00 6.94 1.43
owner’s 9
equity
4. Others
- -
(III) Profit 32,65 32,65
distribution 0,854. 0,854.
17 17
1.
Appropriatio
n of surplus
reserve
2.
65,81 65,81
Distribution
2.50 2.50
to owners (or
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shareholders)
- -
32,71 32,71
3. Others
6,666. 6,666.
67 67
(IV) Internal
carryover of
owner’s
equity
1. Capital
reserve
converted
into capital
(or share
capital)
2. Surplus
reserve
converted
into capital
(or share
capital)
3. Loss
covered by
surplus
reserve
4. Change in
defined
benefit plan
carried
forward to
retained
earnings
5. Other
comprehensi
ve income
carried
forward to
retained
earnings
6. Others
(V)
Appropriativ
e reserve
1.
Appropriatio
n in the
current
period
2.
Application
in the current
period
(VI) Others
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IV. Ending 11,38 21,66
4,538, 1,230, 1,989, 1,071, 1,147, 2,443,
balance of 7,579, 5,646,
321,1 000,0 901,9 692,7 599,4 937,5
current 550.1 861.5
58.00 00.00 28.24 96.47 91.62 30.04
period 6 9
Amount of last year
Unit: yuan
Half year of 2022
Other equity instruments Other
Minus Appro
Capita compr Surplu Undist Total
Item : priativ
Share Prefer Perpet l ehensi s ribute Owne
treasu e Others
capital red ual Others reserv ve reserv d r’s
ry reserv
shares bonds e incom e profits Equity
stock e
e
I. Ending 11,29 24,81
4,505, 3,809, 1,991, 1,189, 1,147, 3,251,
balance of 8,252, 3,512,
211,3 200,0 366,6 155,2 599,4 038,3
the previous 437.6 925.3
42.00 00.00 05.61 61.99 91.62 10.51
year 1 6
Plus:
changes in
accounting
policies
Co
rrection of
previous
errors
Ot
hers
II.
11,29 24,81
Beginning 4,505, 3,809, 1,991, 1,189, 1,147, 3,251,
8,252, 3,512,
balance of 211,3 200,0 366,6 155,2 599,4 038,3
437.6 925.3
the current 42.00 00.00 05.61 61.99 91.62 10.51
1 6
year
III. Increase
- - - -
or decrease - - 70,93
2,560, 1,044, 2,934, 9,101. 2,487,
in the current 120,2 168,6 9,452.
000,0 736.8 605.6 71 450,4
period (“-” 68.00 39.36 17
00.00 0 5 84.63
for decrease)
(I) Total 224,9 225,0
9,101.
comprehensi 96,33 05,43
71
ve income 5.82 7.53
(II) Capital - - - -
- -
invested or 2,560, 1,044, 2,934, 2,558,
120,2 168,6
reduced by 000,0 736.8 605.6 399,0
68.00 39.36
owners 00.00 0 5 38.51
1. Ordinary
shares
0.00 0.00
invested by
owners
2. Capital - -
- -
contribution 48,48 2,560, 682,1 2,559,
168,6 52,71
from other 2.00 000,0 26.08 385,3
39.36 9.31
equity 00.00 11.97
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instrument
holders
3. Amount of
share-based - -
-
payment 1,726, 2,881, 986,2
168,7
included in 862.8 886.3 73.46
50.00
owner’s 8 4
equity
4. Others
- -
(III) Profit 154,0 154,0
distribution 56,88 56,88
3.65 3.65
1.
Appropriatio
n of surplus
reserve
2.
Distribution
to owners (or
shareholders)
- -
154,0 154,0
3. Others
56,88 56,88
3.65 3.65
(IV) Internal
carryover of
owner’s
equity
1. Capital
reserve
converted
into capital
(or share
capital)
2. Surplus
reserve
converted
into capital
(or share
capital)
3. Loss
covered by
surplus
reserve
4. Change in
defined
benefit plan
carried
forward to
retained
earnings
5. Other
comprehensi
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ve income
carried
forward to
retained
earnings
6. Others
(V)
Appropriativ
e reserve
1.
Appropriatio
n in the
current
period
2.
Application
in the current
period
(VI) Others
IV. Ending 11,29 22,32
4,505, 1,249, 1,991, 1,186, 1,147, 3,321,
balance of 7,207, 9,101. 6,062,
091,0 200,0 197,9 220,6 599,4 977,7
current 700.8 71 440.7
74.00 00.00 66.25 56.34 91.62 62.68
period 1 3
III. Company profile
(I) Development history
New Hope Liuhe Co., Ltd. (formerly Sichuan New Hope Agriculture Co., Ltd.) (hereinafter “the company” or
“this company”) was incorporated on March 4, 1998 with the approval of Sichuan Provincial People’s Government in
C.F.H. (1997) No. 260 Document after overall change to the former Mianyang Hope Feed Co., Ltd., with a registered
capital of 140,020,000.00 yuan. Respectively on March 11, 1998 and September 15, 1998, the company publicly
issued 36,000,000 public shares to the public and 4,000,000 internal employee shares to its employees, which were
respectively listed for trading on Shenzhen Stock Exchange, with the stock code: 000876. After the company’s stocks
were listed, the transfer of bonus shares in May 2000, allotment of shares in March 2001, transfer of bonus shares in
July 2002, October 2002, June 2008 and May 2010, the implementation of the Company Equity Division Reform in
August 2006, the completion of material assets reorganization in October 2011 and the implementation of the profit
compensation scheme for material assets reorganization in July 2014, the company’s total share capital was changed
to 1,729,507,365 shares.
According to the resolutions of the company’s extraordinary general meeting held on September 4, 2013 and
approval of CSRC in the Reply on Approving the Non-public Offering of Shares by New Hope Liuhe Co., Ltd. (CSRC
Approval [2014] No. 565), the company issued privately 354,609,927 shares to five particular shareholders including
South Hope Industrial Co., Ltd., against capital contributions made by each shareholder in cash. The private
placement was completed on August 26, 2014. Upon completion of this private placement, the company’s total share
capital was changed to 2,084,117,292 shares.
According to the resolutions of the company’s annual general meeting of 2015, based on the total share capital
of 2,084,117,292 shares, the capital reserve was transferred to increase the share capital for 10 shares per 10 shares,
with related paperwork for this conversion into share capital completed on June 27, 2016, upon which the company’s
total share capital was changed to 4,168,234,584 shares.
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According to the resolutions of the company’s second extraordinary general meeting in 2016 held on June 29,
2016 and approval of CSRC (CSRC Approval [2016] No. 3187), the company changed its total share capital to
4,216,015,009 shares on January 16, 2017 with the related paperwork for acquisition of 70% equities in Yangling
Besun through issue of shares and payment of cash.
According to the resolutions of the company’s annual general meeting of 2018 and approval of CSRC in the
Reply on Approval of Public Issuing of Convertible Corporate Bonds by New Hope Liuhe Co., Ltd. (CSRC Approval
[2019] No. 1902), the company publicly issued 40 million convertible corporate bonds each having a par value of 100
yuan on January 3, 2020, for a total amount of 4.0 billion yuan. Duration of the convertible bonds is from January 3,
2020 to January 2, 2026, convertible from July 9, 2020 to January 2, 2026. In 2020, the share capital was increased
by 111,119,860 shares by conversion of convertible bonds into shares.
According to the resolutions of the first extraordinary general meeting of the company in 2019 held on June 6,
2019, the Proposal regarding the ‘Restricted Stock and Stock Option Incentive Plan 2019 (Draft) of New Hope Liuhe
Co., Ltd.’ and its Summary was approved, whereby the company completed grant of 3.60 million restricted shares to
24 incentive beneficiaries and registration of 8.40 million stock options on July 29, 2019, increasing its share capital
by 2,166,055 shares due to exercise of stock options as of June 30, 2023. According to the resolutions of the first
extraordinary general meeting in 2020, the first extraordinary general meeting in 2021 and the first extraordinary
general meeting in 2022 of the company, the Proposal to Cancel Some Stock Options and Repurchase Some
Restricted Stocks for Cancellation was approved, and the company repurchased 1,406,250 restricted shares for
cancellation as of June 30, 2023.
According to the resolutions of the company’s annual general meeting of 2019 and approval of CSRC in the
Reply on Approving the Non-public Offering of Shares by New Hope Liuhe Co., Ltd. (CSRC Approval [2020]
No.1961), the company privately placed 177,147,918 RMB ordinary shares to two particular shareholders, namely,
South Hope Industrial Co., Ltd. and New Hope Group Co., Ltd., against capital contributions by each shareholder in
cash. The private placement was completed on September 18, 2020.
According to the resolutions of the second extraordinary general meeting of the company in 2020 held on
November 18, 2020, and approval of CSRC in the Reply on Approval of Public Issuing of Convertible Corporate
Bonds by New Hope Liuhe Co., Ltd. (CSRC Approval [2021] No. 1351), the company publicly issued 81.50 million
convertible corporate bonds on November 2, 2021, each having a par value of 100 yuan, for a total amount of 8.15
billion yuan and duration from November 2, 2021 to November 1, 2027, which are convertible from May 9, 2022 to
November 1, 2027. In the first half of 2023, the capital stock was increased by 1,813 shares due to conversion of
convertible bonds into shares.
According to the Proposal regarding the ‘Restricted Stock Incentive Plan 2022 (Draft) of New Hope Liuhe Co.,
Ltd.’ and its Summary deliberated and approved at the 52nd meeting of the 8th board of directors and the annual
general meeting of 2021, and the Proposal on Adjusting Matters Related to the Restricted Stock Incentive Plan 2022
deliberated and approved at the 3rd meeting of the 9th board of directors, the company granted 41.37 million
restricted shares to incentive beneficiaries, including 33.2750 million restricted shares granted for the first time and
8.0950 million restricted shares reserved for grant. The source of shares for this restricted stock incentive plan is the
company’s RMB A-share common stock issued by the company to the incentive beneficiaries. The first award date of
this incentive plan is July 25, 2022.
According to the Proposal on Granting Reserved Restricted Stock to Incentive Beneficiaries deliberated and
approved at the 15th meeting of the 9th board of directors and the 11th meeting of the 9th board of supervisors of the
company, 8.095 million restricted shares were reserved for grant on May 30, 2023.
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In the first half of 2023, the company changed its total share capital to 4,538,321,158 shares due to increase of
1,813 shares after the conversion of convertible bonds into shares, and decrease of 438,750 shares after the
repurchase and cancellation of restricted stocks.
As of June 30, 2023, the total share capital of the company was 4,538,321,158 shares, including 36,108,329
outstanding restricted shares and 4,502,212,829 outstanding unrestricted shares.
(II) Business situation
After years of development, by the end of June 2023, the company has successively possessed 751 directly or
indirectly controlled subsidiaries, 17 affiliates and 8 joint ventures in 30 Chinese provinces, municipalities,
autonomous regions and special administrative regions (including Sichuan, Yunnan, Guizhou, Beijing, Shanghai,
Chongqing, Guangdong, Hainan, Hebei, Henan, Shandong, Shanxi, Jiangsu, Anhui, Zhejiang, Jiangxi, Hubei, Hunan,
Shaanxi, Liaoning, Jilin, Heilongjiang, Gansu, Inner Mongolia, Tibet, Guangxi, Ningxia, Tianjin, Hong Kong, Fujian)
and 15 foreign countries (including: Vietnam, Cambodia, the Philippines, Bangladesh, Indonesia, Sri Lanka,
Singapore, Myanmar, Laos, Nepal, Egypt, Turkey, South Africa, India, Nigeria) through investment and
incorporation and M&As, thus becoming an industry conglomerate with feed, farming, slaughtering and meat
products as its core competitiveness.
(III) Address, business scope and other information of the company
The company’s business license registration number is 91510000709151981F; legal representative is Liu Chang;
registered address is National High-tech Industry Development Zone, Mianyang, Sichuan Province;
headquarters’ address is No. 376, Jinshi Road, Jinjiang Industrial Park, Chengdu, Sichuan.
The company’s business scope: production and processing of compound feeds, concentrated feeds and
concentrate supplements (by branches only) (the above business items and term of business are subject to the
business license). General business items (the following scope does not include business items subject to pre-
registration approval, while business items subject to post-registration approval are to be conducted by virtue of
license or approval document): planting of cereals and other crops; raising of livestock; raising of pigs; poultry
raising; wholesale and retail sale of goods; import and export business; project investment and management;
scientific and technological exchange and promotion services.
(IV) Main products of the company
The company’s main products of its feed business include pig feed, poultry feed, fish feed, etc.; the main
products of its swine business include breeding pigs and commercial pigs; the main products of its poultry business
include breeding poultry, commercial poultry, poultry slaughter, etc.; its food products mainly include livestock
slaughter, deep processing of meat products, central kitchen, etc.
(V) Financial report approval date
The financial statements for FY2023 of the company were approved by its board of directors on August 31,
2023.
(VI) Scope of consolidated financial statements
As of June 30, 2021, the company had 751 subsidiaries included in the scope of its consolidated financial
statements; compared with the previous year, 5 new subsidiaries were added in the scope of consolidated financial
statements this year, and 15 subsidiaries were no longer included in the scope of consolidation this year. For details,
please refer to the relevant contents of “Note VIII. Changes in the scope of consolidation” and “Note IX. Interests in
other entities”.
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IV. Preparation basis of the financial statements
1. Preparation basis
The semiannual financial statements 2023 of the company have been prepared on a going concern basis, based
on the accrual system and actual transactions and events, in accordance with the Accounting Standards for Business
Enterprises–Basic Principles and specific accounting standards, Guidelines for Application of the Accounting
Standards for Business Enterprises, interpretations of the Accounting Standards for Business Enterprises and other
relevant rules (hereinafter collectively referred to as “ASBE”) of the Ministry of Finance, as well as the disclosure
rules set forth in the Rules for the Preparation of Information Disclosure by Companies Offering Securities to the
Public No. 15–General Provisions for Financial Reporting issued by CSRC.
2. Going concern
These financial statements have been prepared on a going concern basis. The company has the ability to
continue operations for at least 12 months after the end of the reporting period, and there are no major events that
affect its ability as a going concern.
V. Significant accounting policies and accounting estimates
Reminder about specific accounting policies and accounting estimates:
Based on the practical production and operation characteristics, the company has formulated specific accounting
policies and accounting estimates for provisioning for bad debts of receivables, inventory valuation methods,
measurement of biological assets, depreciation of fixed assets, revenue recognition and other transactions and events,
as detailed in Note V. “(10) Financial instruments, (11) Inventories, (17) Fixed assets, (20) Biological assets, (21)
Right-of-use assets, (22) Intangible assets, (33) Revenue”. The indicative description of important accounting
judgments and estimates made by the company when applying its accounting policies is detailed in “Note V. (38)
Important accounting judgments and estimates”.
1. Statement on compliance with ASBE
The semiannual financial statements 2023 of the company comply with the requirements of the Accounting
Standards for Business Enterprises, and give a true and complete view of the financial status as of June 30, 2023 and
the business results and cash flow of the company in the first half of 2023. In addition, the company’s financial
statements in all material aspects comply with the disclosure requirements related to financial statements and their
notes as set forth in the Rules for the Preparation of Information Disclosure by Companies Offering Securities to the
Public No. 15–General Provisions for Financial Reporting issued by CSRC.
2. Accounting period
The accounting period of the company is divided into annual and interim periods; the accounting year begins on
January 1 and ends on December 31 of the Gregorian calendar, and the accounting interim period refers to a reporting
period shorter than one full accounting year.
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3. Operating cycle
The company treats a period from acquisition of assets used for processing to realization of cash or cash
equivalents as a normal operating cycle, and the operating cycle of each business segment of the company is shorter
than 12 months; the company uses 12 months as a criterion for classification of liquidity of assets and liabilities.
4. Functional currency
The company and its domestic subsidiaries use RMB as accounting currency; its overseas subsidiaries use
currencies in the primary economic environments in which they operate as accounting currencies, and overseas
subsidiaries need to prepare financial statements in accounting currencies and financial statements converted into
RMB.
5. Accounting treatment for business combination under common control and not under common control
(1) Business combination under the same control
A business combination in which companies participating in combination are all ultimately controlled by the
same one or more parties before and after combination and such control is not temporary is a business combination
under common control. Assets and liabilities acquired by the combing party in a business combination are measured
at book value thereof in the consolidated financial statements of the ultimate controlling party at the combination date.
The share capital premium in the capital reserve is adjusted by the difference between the book value of net assets
acquired and the book value of combination consideration paid (or total par value of shares issued); the retained
earnings are adjusted if the share capital premium in capital reserve is insufficient for offsetting. The combination
date is the date when the combining party actually acquires the control of the combined party.
(2) Business combination not under common control
A business combination in which all parties participating in combination are not ultimately controlled by the
same one or more parties before and after combination is a business combination not under common control. The sum
of assets paid out by the acquiring party to acquire the control of the acquired party (including equities held in the
acquired party before the purchase date), liabilities incurred or assumed and fair value of equity securities issued at
the purchase date minus the share of identifiable net assets of the acquired party at the purchase date that are acquired
in combination is recognized as goodwill if positive or charged to the current non-business revenue if negative. The
purchase date is the date when the acquiring party actually acquires the control of the acquired party.
For a business combination not under common control that is realized step by step through multiple transactions,
equities of the acquired party held prior to the purchase date are re-measured at the fair value of such equities as of
the purchase date, and the difference between fair value and their book value is charged to the current investment
income. Other comprehensive income involved in equities of the acquired party held prior to the purchase date and
accounted for under the equity method and subsequently re-classifiable to profit or loss and other changes in
ownership interest are transferred to the current investment income at the purchase date; where the equities held in
the acquired party prior to the purchase date are equity instrument investments at fair value through other
comprehensive income, other comprehensive income recognized before the purchase date is transferred to the
retained earnings at the purchase date.
(3) Treatment of related transaction costs in business combination
The audit, legal service, appraisal consulting and other intermediary fees and other related management expenses
incurred by the company for business combination are charged to the current profit or loss as and when incurred. The
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transaction costs of equity securities or debt securities issued by the company as the consideration for combination
are charged to the initially recognized amount of the equity securities or debt securities.
6. Method for preparation of consolidated financial statements
(1) General principles
The scope of consolidation of consolidated financial statements is determined based on control, including the
company and subsidiaries controlled by the company. Control means the company has the power over the invested
entity to enjoy variable return by participating in the related activities of the invested entity and has the ability to
exert its power over the invested entity to influence the amount of its return. The company begins to include a
subsidiary in the scope of consolidation as of the date when the company acquires the actual control of the subsidiary;
the company ceases to include the subsidiary in the scope of consolidation as of the date of loss of the actual control.
The equities, profit or loss and total comprehensive income attributable to minority shareholders of subsidiaries
are separately presented in the shareholder equities of the consolidated balance sheet and after the items of net profits
and total comprehensive income on the consolidated income statement respectively. If the current loss shared by
minority shareholders of a subsidiary exceeds the share of minority shareholders in the beginning ownership interest
of the subsidiary, its balance is still offset against the minority interests.
When the accounting policy or accounting period adopted by any of its subsidiaries is inconsistent with that
adopted by the company, necessary adjustments have been made to the financial statements of such subsidiary
according to the company’s accounting policy or accounting period at the time of combination. All significant
internal transactions, internal current accounts and unrealized profit or loss on internal transactions within the scope
of consolidation have been offset when preparing the consolidated financial statements.
(2) Acquisition of subsidiaries by combination
For a subsidiary acquired through business combination under common control, when preparing the consolidated
current financial statements, based on the book value of all assets and liabilities of the combined subsidiary in the
financial statements of the ultimate controlling party, the combined subsidiary is treated as if it has been included in
the scope of consolidation of the company when the ultimate controlling party of the company begins exercising
control over it, and corresponding adjustments are made to the beginning amounts of the consolidated financial
statements and previous comparative statements. For a subsidiary acquired through business combination not under
common control, when preparing the consolidated current financial statements, based on the fair value of various
identifiable assets and liabilities of the acquired subsidiary as determined at the purchase date, the acquired subsidiary
is included in the scope of consolidation of the company as of the purchase date.
(3) Disposal of subsidiaries
When the company loses its control over an existing subsidiary, the resulting gains or losses from disposal are
charged to the investment income in the period during which the control is lost. Where the control over an existing
subsidiary is lost due to disposal of part of equity investment or otherwise, in the consolidated financial statements,
the remaining equities are re-measured at the fair value thereof at the date of loss of control; the sum of the
consideration acquired by disposal of equities and the fair value of remaining equities minus the share of the net
assets continuously calculated by the existing subsidiary from the date of purchase as calculated at the original
shareholding ratio and goodwill is charged to the investment income during the period in which the control is lost.
Moreover, other comprehensive income and etc. related to the equity investment in the existing subsidiary are
charged to the current investment income at the time of loss of control, except for other comprehensive income
resulting from changes in net liabilities or net assets of the defined benefit plan re-measured by such existing
subsidiary.
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Where the company disposes of its equity investment in a subsidiary step by step through multiple transactions
until loss of control, distinction needs to be made as to whether all such transactions constitute a package deal:
①These transactions are entered into simultaneously or taking into account the mutual effect;
②These transactions can only achieve a complete commercial result if made together;
③The occurrence of a particular transaction depends upon occurrence of at least one other transaction;
④ A particular transaction is uneconomical if looked at individually, but is economical if considered together
with other transactions.
Where various transactions do not constitute a package deal, each of the transactions before loss of control over
the subsidiary is treated for accounting purpose according to the applicable principles described in the partial disposal
of equity investments in a subsidiary without loss of control (as detailed in “Note V. 6(4)”).
Where various transactions constitute a package deal, the various transactions are accounted for as a single
transaction of disposal of subsidiary and loss of control; however, the difference between each disposal price before
loss of control and the share of net assets of such subsidiary corresponding to disposal of investment as continuously
calculated as from the purchase date is charged to other comprehensive income in the consolidated financial
statements, and transferred to the profit or loss in the period of loss of control all together at the time of loss of
control.
(4) Changes in minority interest
The capital reserve in the consolidated financial statements is adjusted by both the difference between the long-
term equity investment newly acquired by the company due to purchase of minority interest and the share of net
assets of the subsidiary as calculated at the newly-added shareholding ratio and the difference between the disposal
price acquired from partial disposal of equity investments in subsidiaries without loss of control and the share of net
assets of the subsidiaries corresponding to disposal of long-term equity investments, with the retained earnings to be
adjusted if the capital reserve is sufficient for offsetting purposes.
7. Classification of joint venture arrangements and accounting treatment of joint operation
A joint venture arrangement refers to the arrangement wherein two or more parties have joint control. Joint
venture arrangements are divided into joint operation and joint venture, based on the rights and obligations of the
company in such joint venture arrangement. Joint operation refers to a joint venture arrangement in which the
company enjoys the assets related to such arrangement and assumes the liabilities related to such arrangement. Joint
venture refers to the joint venture arrangement in which the company only has the right to the net assets of such
arrangement. As a party to joint operation, the company recognizes assets separately held and liability separately
assumed by the company and assets held jointly and liabilities assumed jointly by the company according to its share;
recognizes the income from joint operation due to sale of products according to the company’s share; recognizes the
expenses incurred separately by the company and recognizes the expenses incurred by joint operation according to
the company’s share. The investments of the company in joint venture are accounted for using the equity method and
treated according to “Note V. (15) Long-term equity investments” for accounting purposes.
8. Criteria for determination of cash and cash equivalents
Cash and cash equivalents of the company include cash on hand, bank deposits available for payment at any
time, and investment of short term (generally due in 3 months since purchase date) and strong liquidity, easy to be
converted into known amount with small risk of value variation.
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9. Foreign currency transactions and translation of foreign currency statements
(1) Foreign currency transactions
The company converts the foreign currency transactions from foreign-currency amount into amount in
functional currency at the spot exchange rate on the date of transaction, but the foreign exchange transactions or
transactions involving foreign exchange that are incurred by the company are converted into amounts in accounting
currency at the exchange rate actually used. At the balance sheet date, the foreign-currency monetary items are
converted at the spot exchange rate at the balance sheet date, with the resulting exchange difference generally charged
to the current profit or loss, except that:
① the exchange difference resulting from foreign-currency special borrowings related to acquisition of assets
that meet the capitalization conditions is treated according to the principles for capitalization of borrowing costs;
② the exchange difference from hedging instruments used for effective hedging of net investments in overseas
operations is charged to other comprehensive income and will not be recognized as current profit or loss until
disposal of the net investments;
③ the exchange difference resulting from changes in book balances of foreign-currency monetary items
available for sale other than amortized costs is charged to other comprehensive income.
Foreign currency non-monetary items measured at their historical costs are measured at the amount in
accounting currency converted at the spot exchange rate when the transaction occurs. Foreign currency non-monetary
items measured at fair value are converted at the spot exchange rate at the date of determination of fair value, with the
difference charged to the current profit or loss or other comprehensive income.
(2) Translation of foreign currency statements
If the consolidated financial statements involve an overseas business, for foreign currency monetary items
substantially constituting net investment in the overseas business, the exchange difference arising from change in
exchange rate is included in other comprehensive income as “foreign currency statements translation difference”; and
recorded into profit or loss of the period when the overseas business is disposed. The method for foreign currency
statement translation of overseas operations is as follows:
① the items of assets and liabilities in the balance sheet are converted at the spot exchange rate at the date of
balance sheet; all items of ownership interest other than the item of “undistributed profits” are converted at the spot
exchange rate when incurred, and the item of “undistributed profits” is calculated and presented according to items of
net profits and profit distribution; the difference in total amount of items of assets, liabilities and ownership interest
after conversion is recognized as other comprehensive income, after being treated as the foreign currency statement
translation difference. When an overseas operation is disposed of and the control thereof is lost, the foreign currency
statement translation difference presented under the item of other comprehensive income in the balance sheet and
related to such overseas operation is transferred to the current profit or loss from disposal in entirety or according to
the ratio of such overseas operation disposed of.
② the items of income, cost and expense and others in the income statement are converted at the exchange rate
approximate to the spot exchange rate when the transaction occurs.
③ the items in the cash flow statement that reflect the incurred amounts are converted to the exchange rate
approximate to the spot exchange rate when the transaction occurs, with the effects of exchange rate changes on cash
presented separately in the cash flow statement.
10. Financial instruments
Financial instruments refer to the instruments that form financial assets of a party and form the financial
liabilities or equities of other parties.
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(1) Classification of financial instruments
Financial instruments include financial assets and financial liabilities, consisting of monetary capital, creditor’s
rights investments, equity investments other than long-term equity investments, receivables, payables, borrowings,
bonds payable and share capital, etc.
(2) Recognition and initial measurement of financial assets and financial liabilities
The company recognizes financial assets and financial liabilities in the balance sheet when it becomes a party to
the related financial instrument contract terms. All financial assets and financial liabilities are measured at fair value
at the time of initial recognition, except for accounts receivable that don’t have significant financing component. For
financial assets or financial liabilities at fair value through profit or loss, related transaction costs are directly charged
to the current profit or loss; for other types of financial assets or financial liabilities, related transaction costs are
charged to the initially recognized amounts. Accounts receivable that have no significant financing component are
initially measured by the company at the transaction price determined according to the accounting policies specified
in “Note V. (33) Revenue”
(3) Classification and subsequent measurement of financial assets
①Classification of financial assets
The company classifies financial assets into different categories according to its business model of financial
assets management and the characteristics of contract cash flow of financial assets:
financial assets measured at amortized cost, financial assets at fair value through other comprehensive income,
and financial assets at fair value through profit or loss.
Unless the company changes its business model for management of financial assets, in which case all related
financial assets affected are reclassified the first day during the first reporting period after the change in the business
model, financial assets may not be reclassified after initial recognition.
The company classifies a financial asset that meets all of the following conditions at the same time and is not
designated as financial asset at fair value through profit or loss as a financial asset measured at amortized cost.
A. The business model of the company for management of such financial asset aims at receiving contractual
cash flow;
B. The contractual terms of such financial asset provide that the cash flow arising on a particular date consists
solely of payment of principal and interest based on outstanding principal amount.
The company classifies a financial asset that meets all of the following conditions at the same time and is not
designated as financial asset at fair value through profit or loss as a financial asset measured at fair value through
other comprehensive income:
A. The business model of the company for management of such financial asset aims at both receiving
contractual cash flow and selling such financial asset;
B. The contractual terms of such financial asset provide that the cash flow arising on a particular date consists
solely of payment of principal and interest based on outstanding principal amount.
For equity instrument investments held not for trading, the company may irrevocably designate them as financial
assets at fair value through other comprehensive income at the time of initial recognition. Such designation is made
on the basis of individual investments and the related investments meet the definition of equity instrument from the
perspective of issuer. Apart from the aforesaid financial assets measured at amortized cost and financial assets at fair
value through other comprehensive income, the company classifies all financial assets as financial assets at fair value
through profit or loss. At the time of initial recognition, if the accounting mismatch can be eliminated or significantly
reduced, the company may irrevocably designate financial assets that would otherwise be measured at amortized cost
or financial assets that would otherwise be at fair value through other comprehensive income as financial assets at fair
value through profit or loss. The business model for management of financial assets refers to how the company
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manages the financial assets in order to generate cash flow. The business model determines whether the source of
cash flow from financial assets managed by the company is receiving contractual cash flow or selling financial assets
or both. The company determines its business model for management of financial assets pursuant to objective facts
and based on the specific business objectives determined by the key management personnel for management of
financial assets.
The company assesses the contractual cash flow characteristics of financial asses in order to determine whether
the contractual cash flow from related financial assets at a particular date consists solely of payment of principal and
interest based on outstanding principal amount. Of which, the principal refers to the fair value of a financial asset at
the time of initial recognition; interest includes the time value of currency, the credit risk associated with outstanding
principal amount during a specific period and the consideration for other basic loan risks, costs and profits. In
addition, the company assesses the contractual terms that might result in changes to the time distribution or amount of
contractual cash flow from a financial asset in order to determine whether it meets the requirements of the aforesaid
contractual cash flow characteristics.
②Subsequent measurement of financial assets
A. After the initial recognition of financial assets at fair value through profit or loss, such financial assets are
subsequently measured at fair value and the resulting gains or losses (including interest and dividend revenue) are
charged to the current profit or loss, unless such financial assets are part of hedging relationship.
B. After the initial recognition of financial assets measured at amortized cost, such financial assets are measured
at amortized cost using the effective interest rate method. The gains or losses resulting from a financial asset that is
measured at amortized cost and is not part of any hedging relationship are charged to the current profit or loss when
derecognized, amortized according to effective interest rate method or recognized with respect to impairment.
C. After the initial recognition of creditor’s right investments that are measured at fair value through other
comprehensive income, these financial assets are subsequently measured at fair value. The interest, impairment loss
or gain and exchange gain or loss calculated using the effective interest rate method are charged to the current profit
or loss, with other gains or losses charged to other comprehensive income. At the time of de-recognition, the
accumulated gains or losses previously charged to other comprehensive income are transferred out of other
comprehensive income and charged to the current profit or loss.
D. After the initial recognition of equity instrument investments that are measured at fair value through other
comprehensive income, these financial assets are subsequently measured at fair value. The dividend revenue is
charged to profit or loss, and other gains or losses are charged to other comprehensive income. At the time of de-
recognition, the accumulated gains or losses previously charged to other comprehensive income are transferred out of
other comprehensive income and charged to the retained earnings.
(4) Classification and subsequent measurement of financial liabilities
The company classifies financial liabilities into financial liabilities at fair value through profit or loss and
financial liabilities measured at amortized cost.
① Financial liabilities at fair value through profit or loss
Such financial liabilities include financial liabilities held for trading (including derivative instruments that are
financial liabilities) and financial liabilities designated as at fair value through profit or loss.
After the initial recognition, such financial liabilities are subsequently measured at fair value, and the resulting
gains or losses (including interest expense) except otherwise related to hedge accounting are charged to the current
profit or loss.
②Financial liabilities measured at amortized cost
After the initial recognition, such financial liabilities are measured at amortized cost using the effective interest
rate method.
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(5) Offset of financial assets and financial liabilities
Financial assets and financial liabilities are separately presented in the balance sheet without offsetting. However,
where the following conditions are all met, they are presented in the balance sheet at the net amount after mutual
offset:
① the company has the legal right to offset the recognized amounts and such legal right is currently enforceable;
② the company plans to make netting settlement or realize such financial assets and repay such financial
liabilities at the same time.
(6) Termination of recognition of financial assets and financial liabilities
Such financial asset is derecognized when one of the following conditions is met:
① the contractual right to receive the cash flow from such financial asset terminates;
② such financial asset has been transferred and almost all risk and reward on the ownership of such financial
asset has been transferred by the company to the transferee;
③ such financial asset has been transferred and the company has waived the control of such financial asset
although the company has not transferred or retained almost all risk and reward on the ownership of the financial
asset.
When the transfer of a financial asset fully meets the conditions for de-recognition, the company charges the
difference between the following two amounts to the current profit or loss:
① the book value of the financial asset being transferred at the date of de-recognition;
② the sum of consideration received due to transfer of financial asset and the amount in the accumulated amount
of fair value change previously directly charged to the other comprehensive income that corresponds to the
derecognized portion (the financial asset transfered is creditor’s rights investment measured at fair value through
other comprehensive income)
When the present obligations for a financial liability (or a part of it) have been released, the company
derecognizes such financial liability (or such part of financial liability).
(7) Impairment of financial assets
① The company conducts impairment accounting treatment and recognizes loss provisions for the following
items based on expected credit loss:
A. Financial assets measured at amortized cost;
B. Contract assets;
C. Creditor’s right investments at fair value through other comprehensive income;
D. Lease receivables
Other financial assets measured at fair value in the company’s possession are not applicable to the expected
credit loss model, including creditor’s rights investments or equity instrument investments measured at fair value
through profit or loss, equity instrument investments designated as measured at fair value through other
comprehensive income, and derivative financial assets.
②Measurement of expected credit loss
Expected credit loss refers to the weighted average of credit loss from financial instruments with the risk of
default as weight. Credit loss refers to the difference between all contractual cash flows of the company discounted
by the original actual interest rate and receivable according to contract and all cash flows expected to be received, i.e.,
the present value of all cash shortfalls.
When measuring the expected credit loss, the longest period that the company needs to consider is the longest
term of contract with respect to which the company faces credit risk (including considering the renewal option).
Expected credit loss during the entire duration refers to the expected credit loss resulting from any and all possible
events of default during the entire expected duration of financial instruments. Expected credit loss within the next 12
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months refers to the expected credit loss resulting from possible events of default under financial instruments within
12 months after the date of balance sheet (or the expected duration, if the expected duration of financial instrument is
less than 12 months), which is part of the expected credit loss during the entire duration.
For accounts receivable, lease receivables, other receivables and contract assets (collectively “receivables”), the
company always measures their loss provision at the amount equivalent to the expected credit loss during the entire
duration.
At the end of reporting period, the company conducts impairment test for receivables individually for which
there is objective evidence that they have been impaired, and recognizes impairment loss and accrues bad debt
provision based on the difference between its present value of estimated future cash flow lower than its book value.
When it is impossible to assess information about expected credit loss at a reasonable cost for individual
financial assets, the company classifies receivables portfolios according to credit risk characteristics and calculates
expected credit loss on the basis of portfolio. For receivables classified as risk mix, the company calculates the
expected credit loss from the aforesaid financial assets based on the historical credit loss experience and using the
provision matrix, with related historical experience adjusted based on the specific factors of borrower at the balance
sheet date and the assessment of current situation and forecast future economic condition.
Except for accounts receivable, lease receivables, other receivables and contract assets, the company measures
the loss provision for the financial instruments that meet one of the following circumstances at the amount equivalent
to expected credit loss within the next 12 months, and measures the loss provision for other financial instruments at
the amount equivalent to expected credit loss during the entire duration:
A. Such financial instrument only has a relatively low credit risk at the balance sheet date;
B. The credit risk of such financial instrument has not significantly increased since the initial recognition.
Having a relatively low credit risk; if the default risk of a financial instrument is relatively low, the borrower is highly
able to perform its contractual cash flow obligations in short term and the ability of the borrower to perform its
contractual cash flow obligations is not necessarily reduced even if there are adverse changes to the economic
situation and operating environment in a relatively long period, such financial instrument is considered as having a
relatively low credit risk. Significant increase in credit risk: the company determines the relative changes in default
risk during the expected duration of a financial instrument by comparing the default risk of the financial instrument at
the balance sheet date and the default risk at the date of initial recognition, in order to assess whether the credit risk of
the financial instrument has been significantly increased. When determining whether the credit risk has been
significantly increased, the company considers reasonable and well-founded information readily available without
incurring unnecessary additional costs or efforts, including forward-looking information. The information considered
by the company includes:
A. The circumstances in which the debtor fails to pay the principal and interest by the expiry date of contract;
B. Severe deteriorations of external or internal credit ratings of the financial instrument (if any) that have
occurred or are expected;
C. Severe deterioration of the business results of the debtor that have occurred or are expected;
D. Existing or expected changes to the technology, market, economic or legal environment that have material
adverse effect on the debtor’s ability to make repayments to the company.
According to the nature of a financial instrument, the company assesses whether the credit risk has been
significantly increased based on individual financial instruments or financial instrument portfolio. When assessing
based on financial instrument portfolio, the company may classify financial instruments based on the common credit
risk characteristics.
③Financial assets with respect to which credit impairment has occurred
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The company assesses whether the financial assets measured at amortized cost and creditor’s rights investments
at fair value through other comprehensive income have incurred credit impairment at the balance sheet date. When
one or several events that have adverse effect on the expected future cash flow of a financial asset occur, such
financial asset becomes a financial asset with respect to which credit impairment has occurred. The evidence that a
financial asset has incurred credit impairment includes the following observable information:
A. The issuer or debtor is experiencing significant financial difficulties;
B. The debtor has violated a contract, such as default or delinquent in repayment of interest or principal;
C. The company gives the debtor concessions that would otherwise not be made in any circumstances out of
consideration for economy or contract related to the financial difficulties of the debtor;
D. The debtor is highly likely to go bankrupt or conduct other financial reorganization;
E. The financial difficulties of the issuer or debtor have resulted in disappearance of active markets for such
financial asset.
④Presentation of provision for expected credit loss
To reflect the changes in credit risk of a financial instrument since its initial recognition, the company re-
measures the expected credit loss at each balance sheet date, as a result of which the increased or reversed amount of
loss provision is charged to the current profit or loss as impairment loss or gain. For a financial asset measured at
amortized cost, the loss provision is credited against the book value of such financial asset indicated in the balance
sheet; for a creditor’s rights investment that is measured at fair value through other comprehensive income, the
company recognizes its loss provision in other comprehensive income, without charging against the book value of
such financial asset.
⑤Write-off
If the company no longer reasonably expects that the contractual cash flow of a financial asset can be recovered
in full or in part, the company directly writes down the book balance of such financial asset. Such write-down
constitutes de-recognition of the underlying financial asset. Such circumstance usually arises when the company
determines the debtor has no asset or income source that can generate sufficient cash flow to repay the written-down
amount. However, the written-down financial asset might still be affected by the enforcement activities related to
collection of amounts due by the company. The written-down financial asset that is subsequently recovered is
charged to the profit or loss in the period of recovery as the reversal of impairment loss.
(8) Equity instruments
The consideration received by the company from issue of equity instruments is charged to the shareholder equity
after deduction of the transaction costs. The shareholder equity is reduced by the consideration and transaction costs
paid to repurchase the equity instruments of the company. When repurchasing the shares in the company, the shares
repurchased are managed as treasury shares and any and all expenses incurred to repurchase shares are transferred to
the costs of treasury shares, while the same are registered at the same time for future reference. Treasury shares do
not participate in profit distribution and are presented as the item of allowance for shareholder equity in the balance
sheet. When canceling treasury shares, the share capital is reduced by the total nominal value of canceled stock, and
the portion of the costs of treasury shares in excess of the total nominal value is charged against the capital reserve
(share capital premium), surplus reserve and undistributed profits in succession; where the costs of treasury shares are
lower than the total nominal value, the capital reserve (share capital premium) is increased by the portion lower than
the total nominal value. When transferring treasury shares, the capital reserve (share capital premium) is increased by
the portion of the transfer income in excess of the costs of treasury shares; the portion lower than the costs of treasury
shares is charged against the capital reserve (share capital premium), surplus reserve and undistributed profits in
succession.
(9) Convertible instruments
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①Convertible instruments containing equity component
For convertible instruments issued by the company that are convertible into equity shares and with respect to
which the number of shares issued and the amount of consideration at the time of conversion are fixed, the company
treat them as compound instruments containing liability and equity components.
At the time of initial recognition, the company splits related liability and equity components and first determines
the fair value of the liability component (including fair value of non-equity embedded derivative instruments that
might be contained) and then deduct the fair value of liability component from the fair value of compound instrument
and charges results to equities as the value of equity component. The transaction costs incurred to issue compound
instruments are allocated between the liability component and equity component according to respective ratios of the
total issue price.
After the initial recognition, the liability component not designated as at fair value through profit or loss is
measured at amortized cost using the effective interest rate method. The equity component is no longer measured
after initial measurement. When converting a convertible instrument, the company transfers the liability component
and equity component to related accounts of equities.
When a convertible instrument is redeemed, the price paid for redemption and transaction costs incurred are
allocated to the equity and liability components. The method for allocating the price and transaction costs is
consistent with the allocation method adopted when this instrument is issued. After allocating the price and
transaction costs, their difference with the book value of equity and liability components is charged to equities if
related to equity component or charged to profit or loss if related to liability component.
②Other convertible instruments containing no equity component
For other convertible instruments issued by the company and containing no equity component, at the time of
initial recognition, the derivative instrument component of the convertible instrument is measured at fair value and
the remaining part is treated as the initially recognized amount of principal debt instrument.
After initial recognition, the derivative instrument component is measured at fair value and the gains or losses
resulting from change in fair value are charged to current profit or loss. The principal debt instruments are measured
at amortized cost using the effective interest rate method.
When converting a convertible instrument, the company transfers the principal debt instrument and derivative
instrument component to the accounts related to equities. When a convertible instrument is redeemed, the difference
between the price paid for redemption and the book value of the principal debt instrument and derivative instrument
component is charged to the profit or loss.
(10) Preferred shares and perpetual bonds
The company, based on the contractual terms of preferred shares and perpetual bonds issued and the economic
substance reflected by them and in light of the definitions of financial assets, financial liabilities and equity
instruments, classifies these financial instruments or their components into financial assets, financial liabilities or
equity instruments at the time of initial recognition.
The company treats preferred shares and perpetual bonds issued by it and containing both equity component and
liability component according to the same accounting policies as convertible instruments containing equity
component. The company treats preferred shares and perpetual bonds issued by it and containing no equity
component according to the same accounting policies as other convertible instruments containing no equity
component.
The company charges preferred shares and perpetual bonds issued by it and classifiable as equity instruments to
equities at the amount actually received. Where dividends or interest are distributed during the period of existence,
they are treated as profit distribution. Where preferred shares and perpetual bonds are redeemed according to
contractual terms, they are charged against equities at the redemption price.
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11. Inventories
The company is required to comply with disclosure requirements set forth in the Self-regulatory Guideline No.3 of
Shenzhen Stock Exchange for Listed Companies - Industry Information Disclosure with respect to “livestock, poultry
and aquaculture related businesses”.
(1) Classification of inventories
Inventories are classified into raw materials, packaging materials, products in progress, merchandises in stock,
low-value consumables, goods shipped, outsourced processed supplies, consumptive biological assets and revolving
materials.
The specific accounting policy for consumptive biological assets is detailed in “Note V. (20) Biological assets”.
(2) Inventory costs and valuation method for inventories shipped
Inventories are initially measured at the actual cost at the time of acquisition. Inventory costs include purchase
cost, processing cost and other expenditures incurred to bring the inventories to the current location and state. For
inventories shipped, costs are carried over using the one-off weighted average method at the end of month.
(3) Basis of determination of net realizable value of inventory and method for accrual of inventory revaluation
reserve
At the end of period, when the inventory cost is lower than the net realizable value, the inventory is measured at
cost; when the inventory cost is higher than the net realizable value, the inventory is measured at net realizable value,
and the inventory revaluation reserve accrues by the difference of the cost over the net realizable value and is charged
to the current profit or loss. The net realizable value refers to the amount of the estimated selling price of inventory
minus the costs estimated to incur up to the time of completion, the estimated selling costs and related taxes and
charges in the daily activities.
For inventories that are numerous and have a low unit price, the inventory revaluation reserve accrues by the
inventory type. For inventories having the same or similar end use or purpose and related to the product series
produced and distributed in the same area and difficult to valuate separately from other items of such product series,
the inventory deprecation reserve accrues on a consolidated basis; for other inventories, the inventory revaluation
reserve accrues by the difference the cost of individual inventory item in excess of its net realizable value.
At the balance sheet date, if the factors affecting the previously written-down inventory value have disappeared,
the written-down amount is restored and reversed to the extent of amount of previously accrued inventory revaluation
reserve, with the reversed amount charged to the current profit or loss.
(4) Inventory system
The inventory follows the perpetual inventory system.
(5) Amortization of low-value consumables and packaging materials
Low-value consumables and packaging materials are amortized using the one-off amortization method when
requisitioned. Revolving materials that have large sums and a relatively long service life are amortized using the
stage-wise average amortization method.
12. Contract assets and contract liabilities
In the contracts between the company and its customers, the company has the right to collect contract prices for
goods transferred and related services provided to customers, while assuming the performance obligation to transfer
the goods or services to customers.
The right of the company to collect consideration for goods or services transferred to its customers (and such
right depends upon factors other than elapse of time) is presented as contract asset and impairment of contract asset
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accrues based on the expected credit loss. The right of the company to unconditionally (only dependent upon elapse
of time) collect consideration from customers is presented as receivables.
The obligation of the company to transfer goods or services to customers for consideration received or
receivable from its customers is presented as contract liability. When the company performs its obligation to transfer
goods or provide services to customers, the contract liability is recognized as revenue.
The company presents contract assets and contract liabilities under the same contract as a net amount after
mutually offsetting them.
13. Contract cost
(1) Categories and recognition of contract cost
Contract cost includes the incremental cost incurred to acquire contracts and contract performance cost. The
incremental cost incurred to acquire contracts refers to the cost that the company would not incur if the contracts are
not acquired (such as sales commission, etc). If such cost is expected to be recovered, the company recognizes it as an
asset by treating it as contract acquisition cost. Other expenditures incurred by the company to acquire a contract
other than the incremental cost expected to be recovered are charged to the current profit or loss as and when incurred.
Where the cost incurred to perform a contract that is outside the scope of inventories or otherwise not subject to
other enterprise accounting standards and meets all of the following conditions, the company recognizes it as an asset
by treating it as contract performance cost:
①Such cost is directly related to a contract currently acquired or expected to be acquired, including direct labor,
direct materials, manufacturing costs (or similar costs), costs specified to be borne by customers and other costs
incurred solely due to such contract;
②Such cost has increased the resources to be used by the company for performing its performance obligations
in the future;
③Such cost is expected to be recovered.
(2) Amortization and impairment of contract cost
The assets for which contract acquisition cost is recognized and the assets for which contract performance cost is
recognized (hereinafter, “assets related to contract cost”) are amortized on the same basis as recognition of revenue
from goods or services related to such assets and charged to the current profit or loss. They are charged to current
profit or loss as and when incurred if the amortization period is no more than one year. When the book value of an
asset related to contract cost is higher than the difference between the following two items, the company makes
impairment provision for the excess portion and recognizes it as asset impairment loss:
① the remaining consideration that the company expects to receive due to transfer of goods or services related to
such asset;
② the cost estimated to be incurred to transfer such related goods or services.
After making the impairment provision, if the factors of impairment in the previous period changed such that the
aforesaid difference of the ① minus ② is higher than the book value of such asset, the asset impairment provision
previously made is reversed and charged to the current profit or loss, provided that the book value of the asset after
reversal shall not exceed the book value of such asset at the reversal date should the impairment provision not have
been made.
14. Held-for-sale assets
(1) Held for sale
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When the company recovers the book value of a non-current asset or disposal group mainly by selling rather
than continuously using it, such non-current asset or disposal group is classified as held for sale.
The non-current assets mentioned above do not include financial assets, deferred income tax assets, investment
properties that are subsequently measured at fair value, biological assets that are measured at fair value minus selling
costs, assets formed from employee compensation and rights arising from insurance contracts.
Disposal group refers to a group of assets that are disposed of through sale or otherwise as a whole in a single
transaction, and the liabilities transferred in such transaction that directly related to these assets.
The company classifies a non-current asset or disposal group that meets both of the following conditions as held-
for-sale:
① such non-current asset or disposal group is readily available for sale under the current conditions according to
the customary practices of sale of such type of assets or disposal groups in similar transactions;
② the sale is highly likely to occur, i.e., the company has made a resolution on a sale plan, has executed legally
binding purchase agreement with other parties and expects that the sale will be completed within a year;
The company initially and subsequently measures non-current assets or disposal groups held for sale at the book
value and the net amount of fair value minus the selling costs, whichever is lower, and recognizes the difference of
book value higher than the net amount of fair value minus selling costs as the asset impairment loss and charges it to
the current profit or loss.
(2) Discontinued operations
The company defines a component that meets one of the following conditions and can be separately
distinguished and has been disposed of or classified as held for sale by the company as discontinued operation:
① such component represents an independent main business or a separate main operating region;
② such component is part of a related plan for proposed disposal of an independent main business or a separate
main operating region;
③ such component is a subsidiary acquired specifically for resale.
For currently presented discontinued operations, the company presents profit or loss from continuous operations
and profit or loss from discontinued operations respectively in the current income statement, and presents information
previously presented as profit or loss from continuous operations in the income statement of comparative period as
profit or loss from discontinued operations during the comparable accounting period again.
15. Long-term equity investments
Long-term equity investments refer to equity investments that have control, common control or significant
influence over the invested entity, including investments in subsidiaries, affiliates and joint ventures. The equity
investments whereby the company has no control, common control or significant influence over the invested entity
are accounted for as financial assets at fair value through other comprehensive income or financial assets at fair value
through profit or loss, with respect to which the accounting policies are detailed in “Note V. (10) Financial
instruments”.
(1) Judgment criteria for common control and significant influence
Common control refers to the control shared by the company over a particular arrangement according to
applicable covenants, provided that the related activities under such arrangement may not be decided without the
unanimous consent of participants sharing the control. Judging whether there is common control disregards the
protective rights enjoyed by a participating party. Where the company and other joint venture parties jointly exert
common control over the invested entity and enjoy the right to the net assets of the invested entity, the invested entity
is deemed a joint venture of the company.
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Significant influence refers to the power to participate in decision making regarding the financial and business
policies of an enterprise, but not enough to control or jointly control the formulation of these policies with other
parties. Where the company is able to exert significant influence on the invested entity, the invested entity is deemed
an affiliate of the company. When the company directly or indirectly through subsidiaries holds more than 20% but
less than 50% of the voting shares in the invested entity, the company is generally considered as having significant
influence over the invested entity, unless there is conclusive evidence hat the company cannot participate in the
production and business decisions of the invested entity. When the company holds less than 20% of the voting shares
in the invested entity, but one or several of the following circumstances exist, the company will give overall
consideration to all facts and circumstances and make judgments about whether it has significant influence or not:
① the representation of the company on the board of directors or similar governing body of the invested entity;
② participation in the financial and business policy making process of the invested entity;
③ material transactions between the company and the invested entity;
④ assignment of managers to the invested entity;
⑤ provision of key technical data to the invested entity.
(2) Determination of initial investment cost
①Long-term equity investment resulting from business combination
For a long-term equity investment resulting from business combination under common control, the share of the
book value of ownership interest of the combined party in the consolidated financial statements of the ultimate
controlling party at the date of combination is treated as the initial investment cost of the long-term equity investment.
The share capital premium in the capital reserve is adjusted by the difference between the initial investment cost of a
long-term equity investment and the book value of consideration paid; the retained earnings are adjusted if the share
capital premium in the capital reserve is insufficient for offsetting purposes. For a long-term equity investment
resulting from business combination not under common control, the fair values of assets paid out, liabilities incurred
or assumed and equity securities issued by the company to acquire the control over the acquired party at the purchase
date is treated as the initial investment cost of such investment.
②Long-term equity investments acquired by otherwise than business combination
With respect to long-term equity investments acquired by otherwise than business combination, at the time of
initial recognition, for a long-term equity investment acquired by payment in cash, the company treats the purchase
price actually paid as the initial investment cost; for a long-term equity investment acquired by issuance of equity
securities, the company treats the fair value of equity securities issued as the initial investment cost.
(3) Subsequent measurement and profit or loss recognition
Long-term equity investments whereby the company exerts control over the invested entity are accounted for
using the cost method; a long-term equity investment in affiliates and joint ventures is accounted for using the equity
method, unless such investment meets the conditions for being held for sale.
①Long-term equity investment accounted for using the cost method
When accounted for using the cost method, the long-term equity investments are valuated at the initial
investment cost, with the costs of long-term equity investments adjusted by the additional or recovered investments.
Except for the price actually paid at the time of acquisition of investment or cash dividends or profits included in the
consideration that have already been declared but not yet distributed, the current income on investment is recognized
at the cash dividends or profits declared and distributed by the invested entity that the company is entitled to.
②Long-term equity investment accounted for using the equity method
When using the equity method, the initial investment cost of long-term equity investment is not adjusted if the
investment cost of a long-term equity investment is higher than the company’s share of fair value of identifiable net
assets of the invested entity at the time of investment; if the investment cost of long-term equity investment is less
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than the share of fair value of identifiable net assets of the invested entity at the time of investment, the resulting
difference is charged to the current non-business revenue, while adjusting the cost of long-term equity investment.
When using the equity method and during the period of holding of a long-term equity investment, the company
recognizes the investment income and other comprehensive income respectively at the share of net gains and losses
and other comprehensive income realized by the invested entity, while the book value of long-term equity investment
is adjusted at the same time; the share is calculated at the profits or cash dividends declared and distributed by the
invested entity, and the book value of the long-term equity investment is reduced accordingly; for changes in
ownership interest of the invested entity other than net profits and losses, other comprehensive income and profit
distribution, the company charges its share of them to the capital reserve while adjusting the book value of the long-
term equity investment. When recognizing the share of changes in net profits and losses, other comprehensive income
and other ownership interests realized by the invested entity, the company, based on the fair value of identifiable net
assets of the invested entity at the time of acquisition of investment, recognizes investment income and other
comprehensive income after making necessary adjustments according to the company’s accounting policies or
accounting period; the aforesaid adjustments to the financial statements of the invested entity shall follow the
principle of materiality. The portion of unrealized profit or loss attributable to the company and arising from internal
transactions between the company and its affiliates and joint ventures is calculated at the ratio that the company is
entitled to and then offset at the time of accounting under the equity method. The unrealized loss from internal
transactions, where there is evidence that such loss is related asset impairment loss, is recognized in full and is not
offset. When recognizing the net losses incurred by the invested entity that the company shall share, the company
recognizes such net losses until the book value of long-term equity investment and other long-term equities that
substantially constitute the net investment in the invested entity are written down to zero. In addition, if the company
has the obligation to assume additional loss of the invested entity, estimated liabilities are determined at expected
obligations and recognized in current investment loss. Where the invested entity realizes net profit in the subsequent
periods, the company resumes recognition of the revenue share after the revenue share covers the unrecognized share
of losses.
(4) Conversion of accounting method for long-term equity investments
①Conversion from fair value measurement to equity method accounting
Where an equity investment originally held in an invested entity (without control, common control or significant
influence) is treated for accounting according to the financial instrument recognition and measurement standards, and
the shareholding ratio is increased due to additional investment or otherwise, thus allowing the company to exert
common control or significant influence over the invested entity, when accounting for using the equity method
instead, the company treats the fair value of original equity investment determined according to the financial
instrument recognition and measurement standards plus the fair value of consideration paid to acquire additional
investment as the initial investment cost accounted for using the equity method instead. Where the originally held
equity investment is classified as investment in other equity instruments, the accumulated fair value change originally
charged to other comprehensive income shall be transferred to the retained earnings. Then, the initial investment cost
derived by the aforesaid calculation is compared with the share of fair value of identifiable net assets of the invested
entity at the date of additional investment as calculated and determined at the whole new shareholding ratio after
additional investment, with no adjustments to the book value of the long-term equity investment if the former is
larger than the latter; if the former is less than the latter, the difference shall adjust the book value of long-term equity
investment and be charged to the current non-business revenue.
②Conversion from fair value measurement or equity method accounting to cost method accounting
For an equity investment originally held in the invested entity without control, common control or significance
and treated for accounting according to financial instrument recognition and measurement standards, or long-term
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equity investments originally held in affiliates or joint ventures, where they become able to exert control over the
invested entity due to additional investments or otherwise, they are treated as long-term equity investments formed
from business combination.
③Conversion from equity method accounting to fair value measurement
Where a long-term equity investment originally held in the invested entity with common control or significant
influence becomes unable to exert common control or significant influence over the invested entity due to decreased
shareholding ratio as a result of partial disposal or otherwise, the remaining equity investments are treated according
to financial instrument recognition and measurement standards instead, and the difference between the fair value and
book value at the date of loss of common control or significant influence is charged to the current profit or loss. Other
comprehensive income originally accounted for using the equity method should be treated on the same basis as the
invested entity directly disposes of related assets or liabilities when ceasing to be accounted for using the equity
method, while ownership interest recognized due to changes in ownership interest of the invested entity other than net
profit or loss, other comprehensive income and profit distribution is transferred in full to the current investment
income when ceasing to be accounted for using the equity method.
④Conversion from cost method to equity method or fair value measurement
Where control over an invested entity is lost due to disposal of part of equity investments or otherwise, when
preparing individual financial statements, the remaining equities after disposal, if able to exert common control or
significant influence over the invested entity, are accounted for using the equity method instead, and such remaining
equities are adjusted as if they have been accounted for using the equity method as of the time of acquisition. Where
the remaining equities after disposal cannot exert common control or significant influence over the invested entity,
they are measured at fair value according to the financial instrument recognition and measurement standards, and the
difference between their fair value and book value at the time of loss of control is charged to the current investment
income.
(5) Impairment of long-term equity investments
The company judges at the balance sheet date whether there is any indication of impairment of long-term equity
investments and, if yes, conducts impairment test as if they are individual long-term investments. If the results of
impairment test indicate the recoverable amount of a long-term equity investment is lower than its book value, the
impairment provision is made at the difference and charged to the profit or loss.
(6) Disposal of long-term equity investments
When disposing of a long-term equity investment, the difference between its book value and price actually
acquired is charged to the current profit or loss. For a long-term equity investment accounted for using the equity
method, when disposing such investment in full, related other comprehensive income originally accounted for under
the equity method should be treated on the same basis as the invested entity directly disposes of related assets or
liabilities, and ownership interest recognized due to changes in ownership interest of the invested entity other than net
profit or loss, other comprehensive income and profit distribution should be transferred in full to the current
investment income when ceasing to be accounted for using the equity method; in case of partial disposal and
remaining equities still accounted for using the equity method, the other comprehensive income originally recognized
should be treated on the same basis as the invested entity directly disposes of related assets or liabilities and carried
over pro rata, while ownership interest recognized due to changes in ownership interest of the invested entity other
than net profit or loss, other comprehensive income and profit distribution should be carried over to the current
investment income pro rata. When the enterprise partially disposes of long-term equity investments held and
conversion of accounting method occurs, related accounting treatment is as shown in the aforesaid provisions
regarding conversion of accounting methods for long-term equity investments.
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16. Investment properties
Measurement model for investment properties
Measurement using the cost method
Depreciation or amortization method
Measurement model for investment properties Cost measurement Depreciation or amortization method
(1) Classification of investment properties
Investment property refers to real property held to earn rent or for capital appreciation or both, including leased
land use right, land use right held for transfer after appreciation and leased buildings, etc.
(2) Measurement of investment properties
Purchased investment property is initially measured at the cost at the time of acquisition, which consists of the
purchase price, related taxes and expenses directly attributable to such asset; the costs of investment property built by
the company consist of the expenditures required to bring the investment property to the intended state of usability.
The subsequent expenditures related to investment properties are charged to the costs of investment properties if the
economic benefits related to such asset are highly likely to flow to the company and its costs can be reliably
measured. Other subsequent expenditures are charged to the current profit or loss as and when incurred. The company
measures investment properties using the cost model, i.e., presenting them in the balance sheet at the cost minus
accumulated depreciation, amortization and impairment provision. The costs of investment properties are depreciated
or amortized using the straight-line method over the service life after deduction of the estimated net residual value
and accumulated impairment provision, unless the investment properties meet the conditions for being held for sale.
The depreciation policy for leased buildings is the same as that for house buildings in the fixed assets, and the
amortization policy for leased land is the same as that for land use right in the intangible assets.
(3) Impairment of investment properties
At the balance sheet date, the company examines investment properties for any indication of impairment and
conducts impairment tests when there is any indication of impairment, and makes impairment provision at the
difference of recoverable amount lower than the book value, which will not be reversed in subsequent accounting
periods once made.
17. Fixed assets
(1) Conditions for recognition
Fixed assets of the company are tangible assets held by the company for production of commodities, provision of services, leasing
or business management and that have a service life of more than one accounting year. A fixed asset is recognized when the
economic benefits related to such fixed asset are highly likely to flow to the company and the cost of such fixed asset can be
reliably measured. Fixed assets are initially measured at actual cost at the time of acquisition. The initial cost of a purchased fixed
asset includes purchase price, related taxes and expenditures incurred to bring such asset to the intended usable state and
attributable to such asset. The initial cost of a self-built fixed asset is determined by the necessary expenditures incurred to bring
such asset to the intended usable state. The subsequent expenditures related to a fixed asset including expenditures related to
replacement of a particular component of the fixed asset, are capitalized and charged to the costs of fixed assets if the economic
benefits related to such fixed asset are highly likely to flow to the company and its costs can be reliably measured, while deducting
the book value of the replaced portion; expenditures related to daily maintenance of fixed assets are charged to current profit or
loss as and when incurred.
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(2) Depreciation method
Annual depreciation
Category Depreciation method Depreciation period Residual value ratio
rate
Houses and buildings Straight-line method 5-40 years 5.00% 2.38%－19.00%
Machinery and
Straight-line method 3-15 years 5.00% 6.33%－31.67%
equipment
Transport equipment Straight-line method 3-10 years 5.00% 9.50%－31.67%
Others Straight-line method 3-5 years 5.00% 19.00%－31.67%
A fixed asset is depreciated over its estimated service life using the straight-line method at its entry value minus
the estimated net residual value. For a fixed asset with respect to which impairment provision accrues, the
depreciation amount is determined in the future period at the book value net of impairment provision and according
the remaining service life. The service lives, estimated net residual value rates and annual depreciation rates of
various fixed assets are shown in the above table.
The company determines the service life and estimated net residual value of a fixed asset based on the nature
and usage of the fixed asset, and reviews the service lives, estimated net residual values and depreciation methods for
fixed assets at least at the end of each year.
(3) Impairment of fixed assets
At the balance sheet date, the company accrues fixed asset impairment provision by the difference of the
recoverable amount of a fixed asset lower than its book value and charges it to the current profit or loss if its
recoverable amount becomes lower than the book value due to continuous decline of market prices, technological
obsolescence, damage, long-term idleness or otherwise. The fixed asset impairment loss, once recognized, will not be
reversed in the subsequent accounting periods.
(4) Disposal of fixed assets
The company de-recognizes a fixed asset if it is in the state of disposal or such fixed asset is expected not to
generate economic benefits through use or disposal. The difference between net proceeds from scrapping or disposal
of a fixed assets and its book value is charged to profit or loss at the date of scrapping or disposal.
18. Construction in progress
(1) Categories of construction in progress
Construction in progress mainly consists self-operated works, contracted-out works and equipment installation
works. The project costs of construction in progress are determined by the expenditures actually incurred, and self-
operated works are measured at the direct materials, direct wage and direct construction costs; contracted-out works
are measured at the project price payable; the project costs of equipment installation works are determined by the
value of equipment installed, instillation costs and the expenditures incurred by project commissioning, etc. The costs
of construction in progress also include the borrowing costs and exchange gains or losses that should be capitalized.
(2) Carry-over of construction in progress to fixed assets
A fixed asset being built is transferred to fixed assets when it reaches the intended usable state. Where a fixed
asset built reaches the intended usable state but has not yet completed the final settlement of accounts, its cost should
be determined at estimated value and its depreciation starts from the next month; the original estimated value is not
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adjusted at the actual cost until after the completion settlement, but without adjusting the originally accrued
depreciation amount.
(3) Impairment of construction in progress
At the balance sheet date, the company examines construction in progress for any indication of impairment and
conducts impairment tests when there is any indication of impairment, and makes impairment provision at the
difference of recoverable amount lower than the book value. The recoverable amount of a work in progress is
determined by the higher of the fair value of asset minus disposal costs and the present value of estimated future cash
flows of the asset. The impairment loss of construction in progress, once recognized, will not be reversed in
subsequent accounting periods.
19. Borrowing costs
Borrowing costs refer to interest and other related costs incurred by the company due to borrowings, including
loan interest, amortization of premium or discount, auxiliary expenses and exchange difference resulting from
foreign-currency borrowings.
(1) Principles for capitalization of borrowing costs
The borrowing costs incurred by the company that can be directly attributed to the acquisition or production of
assets eligible for capitalization are capitalized and charged to the related asset cost, and other borrowing costs are all
recognized as financial expenses as and when incurred. Assets that meet the conditions for capitalization refer to
fixed assets, inventories and other assets that can reach the intended usable or marketable state only after a
considerably long period of acquisition or production activities.
(2) Capitalization period of borrowing costs
The capitalization period refers to the period from the commencement time of capitalization of borrowing costs
to the time of cessation of capitalization, excluding the period during which the capitalization of borrowing costs is
suspended. The borrowing costs begin being capitalized when the capital expenditure and the borrowing costs have
been incurred and the acquisition or production activities required for the assets to reach the intended usable or
marketable state have commenced. When the assets acquired or produced that meet the conditions for capitalization
reach the intended usable or marketable state, the borrowing costs cease to be capitalized. Where an asset that meets
the conditions for capitalization is abnormally interrupted in the process of acquisition or production and the period of
interruption continues for more than 3 months, the capitalization of borrowing costs is suspended until after the asset
acquisition or production activities recommence.
(3) Calculation method for capitalized amount of borrowing costs
For the special borrowings borrowed to acquire or produce an asset that meets the conditions for capitalization,
the capitalized amount of the borrowing costs is determined based on the interest expense actually incurred in the
period of special borrowing minus the interest income acquired from depositing of the unused borrowed funds in the
bank or the amount of investment income acquired on temporary investment. For general borrowings used to acquire
or produce an asset that meets the conditions for capitalization, the interest amount on the general borrowings to be
capitalized is calculated and determined based on the capital expenditure weighted average of the portion of
accumulated asset expense in excess of the special borrowing multiplied by the capitalization rate of the general
borrowings used. The capitalization rate is calculated based on the weighted average interest rate of general
borrowing.
20. Biological assets
(1) Conditions for recognition of biological assets
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Biological assets refer to living animals and plants and a biological asset is recognized when the following
conditions are met at the same time:
① the company owns or control such biological asset due to past transactions or events;
② economic benefits or service potential related to such biological asset are highly likely to flow to the
company;
③ the costs of such biological assets can be reliably measured.
(2) Classification and costing of biological assets
The company’s biological assets include consumptive biological assets and productive biological assets.
Biological assets are all measured at actual cost and are subjected to cost accounting by distinguishing categories and
batches. Costs of a biological asset refer to necessary expenditures attributable to such asset and incurred to bring
such asset to the marketable stage (refers to consumptive biological assets) or intended purpose of production and
operations such as seedling cost, feed cost, drug cost, labor cost, fuel and power cost, depreciation charges, lease
expenses, other agricultural manufacturing costs, including borrowing costs eligible for capitalization.
①Consumptive biological assets
Consumptive biological assets refer to biological assets held for sale, and the company’s consumptive biological
assets mainly include suckling piglets, nursery piglets, fattening pigs, and commodity broilers (ducks).
A. Suckling piglets refer to piglets from date of birth to date of weaning, and costs of suckling piglets mainly
include depreciation charges of breeding pigs and feeding costs at such stage.
B. Nursery piglets refer to piglets from the date of weaning to date of transfer from nursery pigpen, and costs of
nursery piglets mainly include costs of suckling piglets and feeding costs at the nursing stage.
C. Fattening pigs refer to pigs from the date of transfer from nursery pigpen to the date of slaughter, and costs of
fattening pigs include costs of nursery piglets and feeding costs at the fattening stage.
D. Commercial generation broilers (ducks): costs of commercial generation broilers (ducks) include costs of
baby chicks (ducks) and feeding costs of commercial generation broilers (ducks).
②Productive biological assets
Productive biological assets refer to the biological assets held for production of agricultural products, including
immature productive biological assets and mature productive biological assets. The productive biological assets of the
company mainly include breeding pigs and breeding chicks (ducks).
A. Breeding pigs: divided into immature breeding pigs and mature breeding pigs based on whether the intended
production and operation purposes are achieved. Achieving the intended production and operation purposes means
breeding pigs enter the normal production period and can continuously and stably produce conforming piglets. Costs
of immature breeding pigs include seedling costs and feeding costs at the growth stage. After they become mature,
they are transferred to the mating pigpen for production of piglets and transferred in accounting terms to the category
of mature breeding pigs, before being accounted for using asset card established for individual pigs. The subsequent
expenditures incurred after achieving the intended production and operation purposes such as feeding costs are all
charged to the costs of piglets or semen but no longer charged to costs of breeding pigs.
B. Breeding chicks(ducks): divided into immature breeding chicks (ducks) and mature breeding chicks (ducks)
based on whether intended production and operation purposes are achieved. Achieving the intended production and
operation purposes means breeding chicks(ducks) enter the normal production period and can continuously and stably
produce conforming hatching eggs. Costs of immature breeding hens (ducks) include seedling costs and feeding costs
at the growth stage. After they become mature, they are transferred to the egg-laying hen house for production of
hatching eggs and transferred in accounting terms to the category of mature breeding hens (ducks), before being
accounted for using asset card established for individual batches. The subsequent expenditures incurred after
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achieving the intended production and operation purposes such as feeding costs are charged to the costs of hatching
eggs but no longer charged to costs of breeding hens (ducks).
③Conversion of biological assets
In case of conversion of biological assets, such as consumptive biological assets re-purposed as productive
biological assets or productive biological assets re-purposed as consumptive biological assets, the costs after change
of use are determined at the book value at the time of change of use.
(3) Depreciation of biological assets
For productive biological assets that have achieved the predefined purpose of production and operation (i.e.,
mature productive biological assets), the company determines their service life, estimated net residual value and
depreciation methods (depreciation methods including straight-line method and units-of production method) based on
their nature, usage and expected way of realization of related economic benefits, and reviews the service life,
estimated net residual value and depreciation methods of productive biological assets at least at the end of year, such
that any difference with the original estimates is treated as accounting estimate change. The service lives, estimated
net residual values and depreciation methods of mature productive biological assets of the company are as follows:
Category Estimated service life (or production Estimated net residual
output) value
Breeding sows of generations other than three- 36 months 500-1400 yuan/pig
way crossbred sows
Three-way crossbred sows 24 months 500-1400 yuan/pig
Breeding boars 18 months 500-1400 yuan/pig
Breeding hens 155 eggs/90 eggs (molting) 25 yuan/hen
Breeding ducks 245 eggs/120 eggs (molting) 30 yuan/duck
(4) Impairment of biological assets
Consumptive biological assets are measured at the lower of book value and net realizable value, and productive
biological assets are measured at the lower of book value or recoverable amount. At least at the end of each year, the
company examines its biological assets for any indication of impairment, and accrues the revaluation reserve for
consumptive biological assets or impairment provision for productive biological assets by the difference of the net
realizable value or recoverable amount lower than book value and charges it to the current profit or loss if there is
conclusive evidence that the net realizable value of consumptive biological assets or recoverable amount of
productive biological assets is lower than its book value. If the factors affecting the impairment of consumptive
biological assets have disappeared, the written-down amount should be restored and reversed to the extent of amount
of previously accrued revaluation reserve, with the reversed amount charged to the current profit or loss. The
impairment provision for productive biological assets, once accrued, will not be reversed in subsequent accounting
periods.
The company is required to comply with disclosure requirements set forth in the Self-regulatory Guideline No.3 of Shenzhen Stock
Exchange for Listed Companies - Industry Information Disclosure with respect to “livestock, poultry and aquaculture related
businesses”.
21. Right-of-use assets
The categories of the company’s right-of-use assets mainly include total leasing, land, houses and buildings,
machinery and equipment, transport equipment and others. At the commencement date of lease term, the company
recognizes its right to use leased assets within the lease term as right-of-use asset, and the initial cost of right-of-use
asset includes the initially measured amount of lease liabilities, lease payments paid on or before the commencement
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date of lease term, net of amounts related to lease incentives already enjoyed if lease incentives exist; initial direct
costs incurred by the lessee; and the costs expected to be incurred by the lessee to dismantle and remove leased assets,
restore the site of leased assets or restore the leased assets to the state agreed in the lease terms.
The company depreciates its right-of-use assets using the straight-line method. Where it can be reasonably
determined that the ownership of a leased asset can be acquired upon expiration of the lease term, the company
depreciates the leased asset over the remaining service life of the leased asset. Otherwise, the leased asset is
depreciated over the lease period or the remaining service life of the leased asset, whichever is shorter. The right-of-
use assets accrue impairment provision according to the accounting policy described in “Note V. (24) Impairment of
long-term assets”.
22. Intangible assets
(1) Valuation method, service life and impairment test
Intangible assets refer to the identifiable non-monetary assets owned or controlled by the company without
physical form.
①Valuation method for intangible assets
The company’s intangible assets mainly include land use right, trademark license, patent and software, etc. An
intangible asset is recognized only when economic benefits related to it is highly likely to flow to the company and its
cost can be reliably measured. Intangible assets are measured initially at cost and the company analyzes and judges
the service life of an intangible asset when acquiring it. An intangible asset with a limited service life is amortized
using the straight-line method; intangible assets with uncertain service life are not amortized.
②Determination of service life of an intangible asset
The service life of an intangible assets is determined by the period specified by laws and regulations, if any; or
by the period of benefit specified in the related contract if there is no period specified by laws and regulations; or by
the reasonably estimated service life if there is no period specified by laws and regulations or contracts and the
economic service life can be reasonably estimated. The estimated service lives and amortization methods of
intangible assets of the company are presented as follows:
Item Estimated service life Basis Amortization
method
Land use right 40-50 years Service life stipulated by law Straight-line
method
Patents 10 or 20 years Service life stipulated by law Straight-line
method
Trademarks 10 years Service life stipulated by law Straight-line
method
Other office software 3 years Reasonable estimation Straight-line
method
③Judgment criteria for intangible assets with uncertain service life
The company judges land use rights held by overseas subsidiaries as intangible assets with uncertain service life.
④Impairment of intangible assets
At balance sheet date, the company examines its intangible assets for any indication of impairment, and should
conduct impairment tests when there is any indication of impairment, and makes impairment provision at the
difference of the recoverable amount lower than the book value, with the recoverable amount determined at the
higher of fair value of intangible asset minus disposal costs and the present value of the estimated future cash flows
from the intangible asset; the impairment loss, once accrued, will not be reversed in subsequent accounting periods.
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(2) Accounting policy on internal R&D expenditures
The company divides its R&D projects into the research phase and development phase according to the
following criteria: the phase of original, planned investigation and research activities conducted to acquire and
understand new scientific or technological knowledge is determined as the research phase, which is planned and
exploratory, etc; the phase where research findings or other knowledge are applied to a particular plan or design
before commercial production or use in order to produce new or substantially improved materials, devices or products
is determined as the development phase, which is characterized by specificity and high likelihood to form
achievements.
The expenditures at the research phase are charged to the current profit or loss as and when incurred. The
expenditures at the development phase can be capitalized only when all of the following conditions are met at the
same time, otherwise charged to the current profit or loss as and when incurred.
①The completion of such intangible asset to make it usable or sellable is technically feasible;
②There is an intention to complete, use or sell such intangible asset;
③The way the intangible asset generates economic benefits consists of the ability to prove there is a market for
products produced using such intangible asset or a market for the intangible asset itself, provided that if the intangible
asset is to be used internally, its usefulness should be demonstrated;
④ There are sufficient technical, financial and other supports to complete the development of such intangible
asset and there is ability to use or sell such intangible asset;
⑤The expenditure attributable to the development phase of such intangible asset can be reliably measured.
23. Goodwill
For goodwill formed from business combination not under common control, its initial cost is the difference of
the combination cost larger than the share of fair value of identifiable net asses of the acquired party acquired in the
combination.
The company does not amortize goodwill and presents it in the balance sheet at cost minus accumulated
impairment provision. Goodwill is transferred out at the time of disposal of its related asset group or combination of
asset groups, and charged to the current profit or loss.
24. Impairment of long-term assets
With respect to fixed assets, construction in progress, intangible assets, productive biological assets and
investment properties measured using cost model, long-term equity investments, right-of-use assets, goodwill and
other assets (except for inventories, deferred income tax assets and financial assets), the company determines at the
balance sheet date whether there is any indication of impairment based on internal and external information.
The company conducts impairment tests for assets for which there is indication of impairment, and estimates the
recoverable amount of the asset. In addition, regardless of indication of impairment, the company conducts
impairment costs for goodwill formed from business combinations, intangible assets not yet reaching the usable state
and intangible assets with uncertain service life at least at the end of each year. For goodwill, the company allocates
the book value of goodwill according to how related asset groups or combination of asset groups can benefit from
synergistic effects of business combinations, on which basis it conducts goodwill impairment tests.
The recoverable amount is the fair value of an asset (or asset group or combination of asset groups, the same
below) minus the disposal costs and the present value of anticipated future cash flow from the asset, whichever is
higher. An asset group comprises assets related to creation of cash inflows and is the determinable smallest asset
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portfolio, cash inflows from which are basically independent from other assets or asset groups. Fair value of the asset
is determined by price of a sales agreement in fair trade; if there is no sales agreement but an active market of assets,
the fair value is determined by the buyer’s offer; if there is no sales agreement or active market of assets, the fair
value is estimated on the basis of the best information available. Disposal expenses of the asset include legal costs,
related taxes and handling costs related to asset disposal and direct costs incurred to bring the asset to the marketable
state. The present value of estimated future cash flows from an asset is determined according to the estimated future
cash flows generated during the continuous use of the asset and at the time of final disposal as discounted using an
appropriate pretax discounting rate.
If the results of impairment test indicate that the recoverable amount of an asset is lower than its book value, the
asset impairment provision is made and charged to the current profit or loss. The impairment loss related to an asset
group or combination of asset groups is first offset against the book value of goodwill allocated to such asset group or
combination of asset groups before being offset against the book value of other assets pro rata according to the
percentage of book value of other assets in the asset group or combination of asset groups other than goodwill, but the
book value of various assets after offsetting may not be lower than the highest of the fair value of such asset minus
disposal costs, the present value of estimated future cash flows from such asset and zero.
The aforesaid asset impairment loss, once recognized, will not be reversed in the subsequent accounting periods.
25. Long-term deferred expenses
Long-term deferred expenses refer to various costs that have occurred and have an amortization period of more
than 1 year (exclusive) The long-term deferred expenses are recorded at the actually incurred amount and are
amortized averagely over the period of benefit using the straight-line method, and presented at the net amount of
actual expenditure minus accumulated amortization. If a long-term unamortized expense item cannot benefit the
subsequent accounting periods, the amortized value of such item that has not yet been amortized is transferred in full
to the current profit or loss.
26. Fair value measurement
Unless otherwise stated, the company measures fair value according to the following principles: fair value refers
to the price to be received for sale of an asset or to be paid for transfer of a liability in orderly transactions occurring
between market participants at the date of measurement. When estimating fair value, the company considers
characteristics considered by market participants when pricing related assets or liabilities at the date of measurement
(including the condition and location of asset and restrictions on sale or use of asset, etc), and employs valuation
techniques that are applicable under current circumstances and are supported by sufficient available data and other
information. The valuation techniques used mainly include market approach, income approach and cost approach.
27. Employee compensation
(1) Accounting treatment method for short-term compensation
Employee compensation refers to various forms of remuneration or compensation given by the company for
obtaining services provided by employees or for termination of labor relations. Employee compensation includes
short-term compensation, post-employment benefits, termination benefits and other long-term employee benefits. The
benefits provided by the company to spouses, children, dependents, dependents of deceased employees and other
beneficiaries of employees are also employee compensation. Short-term compensation comprises wage, bonus,
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allowance and subsidy, employee benefits, medical insurance costs, maternity insurance costs, industrial injury
insurance costs, housing fund, trade union outlays, employee education expenditure and non-monetary benefits, etc.
The company recognizes short-term employee compensation actually incurred as liabilities during the accounting
period in which the employees provide services to the company and charges it to the current profit or loss or related
asset cost. Of which, the non-monetary benefits are measured at fair value.
(2) Accounting treatment method for post-employment benefits
Post-employment benefit plans consist of defined contribution plan and defined benefit plan, of which the
defined contribution plan is a post-employment benefit plan under which the company no longer assumes any further
payment obligations after contributing fixed fees to independent funds; the defined benefit plan is post-employment
benefit plan other than the defined contribution plan.
①Defined contribution plan
The company’s defined contribution plan mainly comprises basic endowment insurance, unemployment
insurance and etc, and recognizes them as liabilities at the payable amount during the accounting period in which the
employees provide services to the company and charges them to related asset costs or the current profit or loss.
②Defined benefit plan
Based on the expected accumulated benefit unit method, the company estimates related demographic variables
and financial variables using unbiased and mutually consistent actuarial assumptions, and measures obligations
resulting from the defined benefit plan, before recognizing the present value after discounting as a defined benefit
plan liability. The company attributes the benefit obligations arising from defined benefit plan to the period in which
employees provide services, and charges the interest expenses that are service cost and defined benefit plan liabilities
to the current profit or loss or related asset cost; charges the changes arising from the defined benefit plan liabilities
re-measured to other comprehensive income, which are not allowed to reverse to profit or loss in subsequent
accounting periods, but these amounts recognized in other comprehensive income can be transferred to the extent of
equities.
(3) Accounting treatment method for termination benefits
If the employment relationship with any employee is terminated before the expiration of the employment
contract or a suggestion concerning compensation is provided to encourage the employees to voluntarily accept the
job displacement, the liabilities resulting from compensation for termination of employment relationship with
employees are recognized and charged to the current profit or loss, when the company can not unilaterally revoke the
termination benefits provided due to the employment relationship termination plan or the separation suggestion or the
company recognizes the costs related to the reorganization involving payment of termination benefits, whichever
occurs earlier.
(4) Accounting treatment method for other long-term employee benefits
Other long-term employee benefits provided by the company to its employees are treated for accounting
purposes according to the defined contribution plan if they comply with the defined contribution plan. Otherwise,
such benefits are treated for accounting purposes according to the defined benefit plan.
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28. Lease liabilities
Apart from short-term lease and low-value asset lease, the company at the commencement date of lease term
initially measures lease liabilities at the present value of the lease payment not yet paid on such date, using the
interest rate implicit in lease as the discounting rate. When it’s impossible to determine the interest rate implicit in
lease, the incremental loan interest rate is used as the discounting rate. The company calculates the interest expense
on lease liabilities in various periods of the lease term at the fixed cyclic interest rate and charges them to the current
profit or loss or related asset cost. Variable lease payments not included in the measurement of lease liabilities are
charged to current profit or loss or related asset cost when actually incurred. After the commencement date of lease
term, the company re-measures the lease liabilities at the present value of changed lease payments in the following
cases:
① the payable amount estimated based on residual value of guarantee changes;
② the index or ratio used to determine the lease payment changes;
③ the company’s results of assessment of option to purchase, option to renew lease or option to terminate lease
change, or the actual exercise of option to renew or option to terminate lease is inconsistent with the original
assessment results. When re-measuring the lease liabilities, the company adjusts the book value of right-of-use assets
accordingly. When the book value of a right-of-use asset has been adjusted downward to zero but the lease liabilities
still need to be further adjusted downward, the company charges the remaining amount to the current profit or loss.
29. Estimated liabilities
Estimated liabilities are liabilities that might result from contingencies, including anticipated liabilities resulting
from provision of external guarantees, pending litigations, product quality assurance and reorganization obligation,
etc.
(1) Criteria for recognition of estimated liabilities
Except for contingent liabilities assumed in business combination not under common control, if an obligation
incurred by the company is related to contingencies and meets the following conditions at the same time, the
company recognizes such obligation as estimated liability:
① such obligation is a present obligation of the company;
② the performance of such obligation is highly likely to result in outflow of economic benefits from the
company;
③ the amount of such obligation can be reliably measured.
(2) Measurement method for estimated liabilities
Estimated liabilities are initially measured at the best estimate of expenditure required to perform the related
present obligations. Where the impact of the time value of money is significant, the estimated liability is determined
at an amount after discounting the estimated future cash flows. When determining the best estimate, the company
considers the risks related to contingencies, uncertainty and time value of currency and other factors. Where there is a
continuous range for the required expenditure and the possibility of occurrence of various results within such range is
the same, the best estimate is determined at the median of such range; in other cases, the best estimate is treated as
follows:
① determined by the most possible incurred amount if contingencies involve a single item;
② determined by calculating according to various possible results and related probabilities if contingencies
involve multiple items.
The company, at the balance sheet date, reviews book value of estimated liabilities and adjusts such book value
according got the current best estimate.
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30. Share-based payment
The share-based payment is a transaction in which the company grants equity instruments or assumes liabilities
determined based on equity instruments in exchange for services provided by its employees or other parties.
(1) Categories of share-based payments
Share-based payment consists of share-based payment settled in equities and share-based payment settled in cash.
(2) Related accounting treatment for implantation of share-based payment plan
①Share-based payment settled in equities
When the company exchanges shares or other equity instruments with services provided by employees, they are
measured at the fair value of equity instruments granted to employees at the grant date. For share-based payment
transactions in which immediate exercise after grant is possible, the company charges them to the related costs or
expenses at the fair value of equity instruments at the grant date and increases the capital reserve accordingly. For
share-based payment transactions in which exercise can be made only after completing the services or meeting the
specified performance conditions within the vesting period after grant, the company at each balance sheet date within
the vesting period makes the best estimate of the number of exercisable equity instruments based on the latest
acquired subsequent information such as changes in number of exercising employees, on which basis to charge the
currently acquired services to related costs or expenses at fair value of equity instruments at the grant date, and
charges them to capital reserve accordingly. When the company receives services but without settlement obligation,
and what’s granted to employees are equity instruments of the ultimate controlling party of the company or
subsidiaries controlled by it other than the company, the company treats such share-based payment plan as share-
based payment settled in equities.
②Share-based payment settled in cash
For share-based payment settled in cash, when the company delivers cash or other assets determined based on
shares or other equity instruments in exchange for services provided by employees, the price of services received in
exchange is measured at the fair value of liabilities determined based on the related equity instruments. For share-
based payment transactions in which immediate exercise after grant is possible, the company charges them to the
related costs or expenses at the fair value of liabilities assumed at the grant date and increases the liabilities
accordingly. For share-based payment transactions in which exercise can be made only after completing the services
or meeting the specified performance conditions within the vesting period after grant, the company at each balance
sheet date within the vesting period charges the currently acquired services to costs or expenses at the amount of fair
value of liabilities assumed based on the best estimate of the exercisable circumstance and charges them to liabilities
accordingly. At each balance sheet date and settlement date before settlement of related liabilities, the company re-
measures the fair value of liabilities and charges its changes to profit or loss. When the company receives services
and has the settlement obligation, and what’s granted to employees are equity instruments of the ultimate controlling
party of the company or subsidiaries controlled by it other than the company, the company treats such share-based
payment plan as share-based payment settled in cash.
31. Unearned premium reserve
Unearned premium reserve refers to a reserve accrued by financing guarantee companies for financing liabilities
not yet terminated. The financing guarantee company subordinate to the company accrues unearned premium reserve
at 50% of the guarantee fee revenue of the year in the period of recognition of premium revenue. Financing guarantee
companies at the balance sheet date recalculate and determine the difference between the amount of unearned
premium reserve and the balance of accrued unearned premium reserve according to the aforesaid provisions and
adjust the balance of unearned premium reserve.
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32. Guarantee indemnity reserve
Guarantee indemnity reserve refers to a reserve accrued by financing guarantee company for its liability to pay
indemnities to beneficiaries when the guaranteed person is unable to repay debts when due under a financing
guarantee contract not yet terminated. The financing guarantee company subordinate to the company accrues
guarantee indemnity reserve at 1% of the balance of guarantee liability at the end of the year in the period of
recognition of financing guarantee contract revenue. When the accumulated amount of guarantee indemnity reserve
reaches 10% of the balance of guarantee liability in the year, the reserve accrues at difference while recognizing the
accrued guarantee indemnity reserve as liabilities. The accumulation of guarantee indemnity reserve is based on the
financial condition, production or living environment of the guaranteed person to conduct adequacy test of the
balance of accrued guarantee indemnity reserve, with additional accrual to be made at the difference in case of
insufficiency, but the guarantee indemnity reserve is not adjusted if the balance of related insurance liability reserve
recognized through recalculation under the financing guarantee contract is lower than the balance of related insurance
liability reserve already recognized at the date of adequacy test.
33. Revenue
Accounting policies adopted for revenue recognition and measurement
Accounting policies adopted for revenue recognition and measurement. Revenue refers to the total inflows of
economic benefits formed by the company in its day-to-day activities that would result in increases in shareholder
equity and are unrelated to capital invested by shareholders.
(1) General principles for revenue recognition
The company recognizes its revenue when having performed its performance obligations in contract, i.e., the
customer acquires the control of related goods or services.
Where a contract contains two or more performance obligations, the company allocates the transaction price to
each individual performance obligation according to the relative proportions of separate selling prices of goods or
services as promised by each individual performance obligation at the contract commencement date and then
measures the revenue at the transaction price allocated to each individual performance obligation.
The transaction price is the amount of consideration that the company expects to have the right to charge due to
transfer of goods or services to its customers, excluding amounts charged on behalf of third parties. The transaction
prices recognized by the company do not exceed the amounts with respect to which the accumulated recognized
revenue is extremely likely not to be significantly reversed at the time of elimination of related uncertainties. The
amounts expected to be returned to customers are treated as liabilities for return of goods and are not charged to the
transaction prices. Where a contract contains a significant financing component, the company determines the
transaction price at the payable amount that the customer would pay in cash should the customer have acquired the
control of the goods or service, with the difference between such transaction price and the contract consideration to
be amortized using the effective interest rate method during the term of the contract. At the commencement date of a
contract, if it is estimated that the interval between the customer’s acquisition of control of goods or services and the
customer’s payment of price is no more than one year, significant financing component existing in the contract is not
considered.
When meeting one of the following conditions, a performance obligation is one that should be performed within
a particular period, otherwise it is a performance obligation that should be performed at a particular point in time:
① the customer has acquired and consumed the economic benefits brought about by performance of the
company when the company performs the contract;
② the customer can control the goods in progress during the performance of the company;
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③ the goods produced during the performance of the company have irreplaceable purposes and the company has
the right to charge amounts for the portion of performance completed so far in cumulative terms within the entire
term of contract.
For a performance obligation performed within a particular of period of time, the company recognizes revenue
according to the performance progress within such period of time. When the performance progress is uncertain,
provided that the costs incurred are expected to be compensated, the revenue is recognized at the amount of costs
already incurred until the performance progress can be reasonably determined.
For a performance obligation performed at a particular time in time, the company recognizes revenue at the point
in time when the customer acquires the control of related goods or services. When judging whether a customer has
acquired the control of goods or services, the company would consider the following indications:
① the company has the present right to collect payments with respect to such goods or services;
② the company has transferred the physical objects of such goods to the customer;
③ this company has transferred the legal title to such goods or the substantial risk and reward on such legal title
to the customer;
④ the customer has accepted such goods or services, etc.
(2) Specific methods of the company for revenue recognition
Production and sale of feeds, livestock and poultry and foods are the main business of the company, and the
company’s performance obligation in such sales businesses is performance obligation performed at a particular point
in time. Where the company has received the payment for goods (cash sale or advances on sales) or expects to
recover the payment for goods (credit sales) and delivered the goods to a customer in such manner as specified in
contract, which have been signed off by the customer, the customer acquires the control of related goods and the
company recognizes the revenue at the same time.
Adoption of different business models in the same type of business results in difference in accounting policies for revenue
recognition.
34. Government subsidy
(1) Definition of government subsidy
Government subsidies refer to the monetary and non-momentary assets received by the company from
government without compensation, excluding capital invested by government as an investor.
(2) Types and classification criteria of government subsidy
Government subsidy consists of asset-related government subsidies and income-related government subsidies.
The company defines the government subsidies acquired by it and used for acquisition or otherwise formation of
long-term assets as asset-related; other government subsidies acquired by the company otherwise related to assets are
defined as income-related. For comprehensive project government subsidies containing both asset-related parts and
income-related parts, they are treated respectively by distinguishing different parts; where it is difficult to distinguish,
they are classified in entirety as income-related government subsidies.
(3) Recognition of government subsidy
A government subsidy is recognized when the government subsidy can be received and the conditions attached
to the government subsidy can be met. A government subsidy is measured at the amount actually received or
receivable if it is a monetary asset. A government subsidy that is a non-monetary asset is measured at fair value.
Asset-related government subsidies are recognized by the company as deferred income and charged to other income
in a reasonable and systematic manner over the service life of the related asset by phases; where related assets are
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sold, transferred, scrapped or destroyed before the end of service life, the balance of related deferred income not yet
allocated is transferred to the current profit or loss from asset disposal. Income-related government subsidies, if used
for compensating relevant expenses and losses of the company in future periods, are recognized as deferred income
and are charged to profit or loss in the period when relevant costs and expenses or losses are recognized; otherwise,
they are charged directly to profit or loss.
The company charges to other income the government subsidies received in connection with the daily activities
of the company according to substance of economic transaction, and charges to non-business revenue the government
subsidies unrelated to daily activities of the company.
The policy-related preferential subsidized loans acquired by the company are treated for accounting purposes by
distinguishing between fiscal authorities appropriating the proceeds of subsidized loans to the lending bank and the
fiscal authorities appropriating the proceeds of subsidized loans directly to the company. Where the fiscal authorities
appropriate the proceeds of subsidized loans to the lending bank for provision of loans to the company at a policy-
related preferential interest rate, the company records the loans at the loan amount actually received and calculates
the related borrowing costs according to the loan principal and such policy-related preferential interest rate. Where
the fiscal authorities appropriate the proceeds of subsidized loans directly to the company, the company charges the
corresponding interest subsidy against the related borrowing costs.
35. Deferred income tax assets/ deferred income tax liabilities
Based on the difference between the carrying value of assets and liabilities at the balance sheet date and the tax
basis, and the difference between the carrying value of items that are not recognized as assets and liabilities but
whose tax basis can be determined in accordance with the provisions of the tax law, the company uses the balance
sheet liability method to measure deferred tax assets or deferred tax liabilities at the applicable tax rates during the
period during which the asset is expected to be recovered or the liability is settled.
(1) Recognition of deferred income tax assets
The company recognizes related deferred income tax assets to the limit of the taxable income that is highly
likely to be received by the company in future period to deduct the deductible temporary difference; but if such
transaction is not business combination and the transaction neither affects the accounting profits nor affects the
taxable income (or deductible loss) when incurred, the related deferred income tax assets are not recognized. For
related deductible temporary difference resulting from the investments of the company in its subsidiaries, affiliates
and joint ventures, if such temporary difference is highly likely not to be reversed in foreseeable future and the
taxable income is highly likely not to be obtained to deduct the deductible temporary difference in the future, the
company recognizes the corresponding deferred income tax assets. At the balance sheet date, the company reviews
the book value of deferred income tax assets. If it is highly likely not to obtain taxable income sufficient to deduct the
benefits of deferred income tax assets in the future, the book value of deferred income tax assets is written down. The
amount written down is reversed when sufficient taxable income is highly likely to be obtained. The deductible losses
and tax credit which can be carried forward in future years are treated as if they are deductible temporary difference.
The corresponding deferred income tax assets are recognized to the extent of the amount of future income taxable
which is highly likely to be obtained to deduct the deductible losses and tax credit.
(2) Recognition of deferred income tax liabilities
Apart from initial recognition of goodwill or taxable temporary difference arising in a transaction that is not
business combination and affects neither accounting profits nor taxable income (or deductible loss) when occurring,
the company recognizes deferred income tax liabilities arising from all taxable temporary differences. For related
taxable temporary difference resulting from the investments of the company in its subsidiaries, affiliates and joint
ventures, if the company can control the time to reverse the temporary difference and the temporary difference is
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highly likely not to be reversed in foreseeable future, the company does not recognize related deferred income tax
liabilities.
(3) Income tax expense
The income tax expense consists of current income tax and deferred income tax. The current income tax is the
expected payable tax calculated based on the taxable income of this year at the tax rate stipulated by tax laws. The
company charges current income taxes and deferred income tax to the current profit or loss, except for the income tax
arising from business combinations and transactions or events directly charged to ownership interest (including other
comprehensive income).
(4) Offset of income tax
At the balance sheet date, deferred income tax assets and deferred income tax liabilities are presented at a net
amount after offset when the following conditions are met at the same time:
① the taxpayer entity has the legal right to netting of current income tax assets and current income tax liabilities;
② deferred income tax assets and deferred income tax liabilities are related to income tax imposed by the same
tax authority on the same taxpayer entity or related to different taxpayer entities but the taxpayer entities involved
intend to conduct netting settlement of current income tax assets and liabilities or acquire assets and repay liabilities
at the same time within each period in the future that has reversal of important deferred income tax assets and
liabilities.
36. Lease
(1) Identification and splitting of lease
At the commencement date of a contract, the company assesses whether the contract is a lease or contains lease.
A contract is or contains a lease if a party to a contract transfers its right to control the use of one or more identified
assets for a period of time in exchange for consideration. To determine whether a contract assigns the right to control
the use of identified assets within a certain period, the company performs the following assessments:
① Whether the contract involves use of identified assets. An identified asset may be designated expressly in
contract or designated implicitly when the asset is available to the customer, and such asset can be distinguished
physically or if a part of capacity or other part of the asset cannot be physically distinguished but substantially
represents the total capacity of the asset, thus allowing the customer to acquire almost all economic benefits arising
from use of the asset. If the supplier of the asset has the right to substantially replace the asset during the entire period
of use, such asset is not an identified asset;
②Whether the lessee has the right to acquire almost all economic benefits arising from use of the asset during
the period of use;
③Whether the lessee has the right to direct the use of the identified asset during such period of use.
Where a contract contains multiple separate leases, the lessee and the lessor split the contract up and perform
accounting treatment of each individual lease respectively. Where a contract contains lease and non-lease components,
the lessee and the lessor split the lease component from none-lease component. When splitting the lease component
and non-lease component contained in a contract, the lessee allocates the consideration for contract according to the
relative proportions of the sum of separate prices of lease components and the sum of separate prices of non-lease
components; the lessor allocates the consideration for contract according to the provisions of the accounting policy
described in “Note V. (33) Revenue” regarding allocation of transaction price.
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(2) Assessment of lease term
Lease term refers to a period in which the company has the right to use leased assets and which is irrevocable.
Where the company has the option to renew, i.e., the right to choose to renew the lease of the asset, and reasonably
determines that it will exercise such option, the lease term also includes the period covered by the option to renew the
lease. Where the company has the option to terminate a lease, i.e., the right to choose to terminate the lease of the
asset, and reasonably determines that it will not exercise such option, the lease term includes the period covered by
the option to terminate lease. Where a significant event or change occurs within the scope controllable by the
company, and affects whether the company reasonably determines to exercise the applicable option, the company
reassesses whether it reasonably determine to exercise the option to renew, option to purchase or not to exercise the
option to terminate the lease.
(3) The company as a lessee
The general accounting treatment where the company acts as a lessee is detailed in “Note V. (21) Right-of-use
assets” and “Note V. (28) Lease liabilities”.
①Lease change
Lease change refers to any change to lease scope, lease consideration or lease term outside the original
contractual terms, including addition or termination of the right to use one or more leased assets, and extension or
shortening of contractually specified lease term, etc.
When a lease changes and meets the following conditions at the same time, the company treats such lease
change as one separate lease for accounting purposes:
A. The lease change expands the lease scope by adding the right to use one or more leased assets;
B. The increased consideration is equivalent to the amount of separate price of the expanded portion of the lease
scope as adjusted according to the circumstances of the contract. Where a lease change is not treated as one separate
lease for accounting purposes, at the effective date of lease change, the company re-determines the lease term and
discounts the changed lease payments at a revised discounting rate to re-measure the lease liabilities. When
calculating the present value of the changed lease payment, the company uses the interest rate implicit in lease over
the remaining lease period as the discounting rate; where the interest rate implicit in lease over the remaining lease
period cannot be determined, the incremental loan interest rate of the company as at the effective date of lease change
is used the discounting rate.
With respect to the effects of the aforesaid adjustment to lease liabilities, the company performs accounting
treatment by distinguishing the following circumstances:
A. Where the lease change results in narrowed scope of lease or shortened lease term, the company adjusts the
book value of right-of-use asset downward to reflect the partial or total termination of the lease. The company
includes the relevant gains or losses on the partial or total termination of the lease into the current profit or loss.
B. As for other lease changes, the company adjusts the book value of right-of-use asset accordingly.
②Short-term lease and low-value asset lease
Where the company has chosen not to recognize right-of-use assets or lease liabilities for short-term lease (any
lease with a term of no more than 12 months) and low-value asset lease at the commencement date of lease, they are
charged to the related asset cost or current profit or loss using the straight-line method over each period of the lease
term.
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(4) As a lessor
A lease that substantially transfers almost all risk and reward related to the ownership of a leased asset at the
commencement date of lease is financing lease, apart from which all leases are operating leases.
①As a lessor under financing lease
At the commencement date of a lease, the company recognizes financing lease payments receivable with respect
to financing lease and de-recognizes financing lease assets. When initially measuring the financing lease payments
receivable, the company treats the net lease investment as the recorded value of financing lease payment receivable.
The net lease investment is the sum of the unsecured residual value and the present value of the lease receipts not yet
received at the commencement date of the lease that is discounted at the interest rate implicit in lease.
The company calculates and recognizes interest revenue on each period of the lease term at the fixed cyclic
interest rate. The variable lease payments acquired by the company and not included in the measurement of net lease
investment are charged to the current profit or loss when actually incurred.
②As a lessor under operating lease
The rental revenue from operating lease is recognized as current profit or loss using the straight-line method
over each period of the lease term, while contingent rental is charged to the current profit or loss when actually
incurred.
(5) Sale-and-leaseback transaction
The company determines whether the asset transfer in a sale-and-leaseback transaction constitutes a sale through
assessment according to “Note V. (33) Revenue”.
①The company acts as a lessee
Where the asset transfer in the sale-and-leaseback transaction constitutes a sale, the company, as the lessee,
measures the right-of-use asset formed from the sale-and-leaseback at the portion of the book value of the original
asset related to the right of use acquired through leaseback, and recognizes related gains or losses only with respect to
the rights transferred to the lessor; where the asset transfer in the sale-and-leaseback transaction does not constitute a
sale, the company, as the lessee, continues recognizing asset being transferred while recognizing a financial liability
equivalent to the revenue from the transfer, and performs accounting treatment of the financial liability according to
“Note V. (10) Financial instruments”.
②The company acts as a lessor
Where the asset transfer in the sale-and-leaseback transaction constitutes a sale, the company, as the lessor,
performs accounting treatment for the asset purchase and treats the asset renting for accounting purposes according to
the aforesaid provisions; where the asset transfer in the sale-and-leaseback transaction does not constitute a sale, the
company, as the lessor, does not recognize the asset transferred, but recognizes a financial asset equivalent to the
revenue from the transfer, and performs accounting treatment of the financial asset according to “Note V. (10)
Financial instruments”.
37. Changes to important accounting policies and accounting estimates
(1) Important accounting policy changes
□applicable not applicable
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(2) Changes to important accounting estimates
□applicable not applicable
(3) Adjustment of relevant items of the financial statements at the beginning of the year upon the first implementation of
the new accounting standards from 2023
□applicable not applicable
38. Important accounting judgments and estimates
Due to inherent uncertainties of business activities and changes in external factors, the company needs to make
judgments, estimates and assumptions accounting events that cannot be accurately measured in accounting treatment,
which are based on historical experience of the company’s management and are made taking into account other
related factors. However, the actual results arising from uncertainties of accounting events might differ from the
current judgments and estimates made by the company’s management and thereby might result in material
adjustments to the book values of assets or liabilities affected in the future. The company conducts periodic review
and evaluation of the aforesaid adjustments, estimates and assumptions on the basis of going concern and conducts
accounting treatment according to enterprise accounting standards and related provisions. The important fields in
which the company makes judgments, estimates and assumptions about amounts of financial statement items are as
follows:
(1) Expected credit loss of receivables
Based on the reasonable and warranted information available at the balance sheet date and historical credit loss
profile and considering forward-looking information, the company accrues expected credit loss for receivables. The
determination of expected credit loss involves management’s estimates and judgments and if there is any difference
between results of re-estimation and existing estimates, the difference will affect the profits and book value of
receivables during the period of estimate change.
(2) Inventory falling price reserve
The company measures inventories at the lower of cost and net realizable value at the balance sheet date, and
inventory impairment is based on assessment of the marketability and net realizable value of inventories.
Determination of inventory impairment requires the company to obtain conclusive evidence for net realizable vale
and to make judgments and estimates taking into account the purpose of holding inventories and other factors. The
difference between actual results and original reasonable expectations will affect the book value of inventories and
accrual or reversal of inventory revaluation reserve during the period in which estimates are changed.
(3) Impairment of other long-term assets
The company conducts impairment tests for long-term assets such as long-term equity investments, fixed assets,
construction in progress, productive biological assets, intangible assets and right-of-use assets when there is any
indication of impairment; goodwill is subjected to impairment test each year, regardless of whether there is any
indication of impairment. When the book value of an asset or asset group is higher than its recoverable amount (the
higher of the net amount of fair value minus disposal costs and the present value of estimated future cash flows),
impairment loss is recognized. The net amount of fair value minus disposal costs is determined by reference to the
sales agreement price of similar assets in arm’s length transaction or observable market price minus the incremental
cost directly attributable to such asset disposal; the present value of estimated future cash flows require estimation of
data about output, selling price, related operating costs and other aspects of such asset or asset group that involve
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future cash flows. The difference between actual results and original reasonable expectations will affect the book
value of long-term assets during the period in which estimates are changed.
(4) Depreciation and amortization
The company depreciates or amortizes fixed assets, productive biological assets, right-of-use assets and part of
intangible assets using the straight-line method over the economic service life, with the service life determined based
on historical experience, contractual provisions and asset performance parameters, taking into account the expected
technological updating, etc. If the previous reasonable estimates change in a manner that has significant effects,
adjustments are made to depreciation and amortization expenses in the future periods.
(5) Tax matters such as income tax
In the normal course of business operations, fiscal and tax treatment of part of tax-related transactions or events
by the company face considerable uncertainties due to involvement of projections and judgments, and might affect
the financial statements in future accounting periods; mainly including:
①The company pays enterprise income tax at home and in many foreign countries, whether part of items can be
presented and disbursed before tax requires approval and confirmation of competent tax authorities. If the final
determinations of these tax matters differ from the original projections and judgments, such difference will affect the
current income tax expense on them in the period of final determination.
②The company can carry over the deductible losses to future years and recognizes the corresponding deferred
income tax assets to the limit of future taxable income that is highly likely to be available to deduct the deductible
losses. The company needs to exercise numerous judgments in order to reasonably estimate the period and amount of
taxable income arising in the future. If the market quotations of future business units or profitability of individual
taxpaying entity are significantly changed from the current projection results, such difference will affect the deferred
income tax expense in future periods.
③Due to the special nature of tax policies related to deduction of input tax on agricultural products and the low
gross margins of the business unit of primary processing of agricultural products at present, the accumulated amount
of excess VAT paid by subsidiaries of the company engaged in slaughter and primary processing of meat foods is
relatively large. If tax policies related to deduction of input tax on agricultural products substantially change in the
future, it might materially affect the payable taxes and profit or loss in future periods.
VI. Taxes
1. Main taxes and tax rates
Tax category Tax base Tax rate
VAT Taxable sales 13%-3%
Urban maintenance and construction tax Turnover tax actually paid 7%, 5%, 1%
Enterprise income tax Taxable income 30%-0.6%
Remarks on disclosure where there are different taxpayers subject to different enterprise income tax rates
Name of taxpayer Income tax rate
Hong Kong Dongxian Co., Ltd. 16.5%
New Hope Liuhe International Trade (HK) Co., Ltd. 16.5%
New Hope Singapore Pte. Ltd. 5%, 8%, 17% (note 1)
New Hope Singapore Premix Pte. Ltd. 17%
NHCS Investment Pte. Ltd. 17%
New Hope Singapore Biotechnology Pte. Ltd. 17%
New Hope Asia Investment Pte. Ltd. 17%
New Hope International Holdings (Pte.) Ltd. 17%
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New Hope Global Investment Pte. Ltd. 17%
New Hope Ho Chi Minh City Co., Ltd. 15%, 20% (note 1)
New Hope Binh Dinh Co., Ltd. 20%
New Hope Hanoi LLC 10%, 20% (note 1)
New Hope Hanoi LLC Haiphong Branch 10%, 20% (note 1)
New Hope Hanoi LLC Bac Giang Branch 20%
New Hope Hanoi LLC Thanh Hoa Branch 20%
New Hope Dong Thap Aquatic Feed Co., Ltd. Tax free, 10%, 20% (note 1)
Than Hoa New Hope Livestock Services Co., Ltd. 10%, 20% (note 1)
New Hope Binh Dinh Livestock Co., Ltd. 10%, 20% (note 1)
New Hope Binh Phuoc Livestock Co., Ltd. 7.5%, 15% (note 1)
New Hope Vinh Long Co., Ltd. 5% (note 1)
New Hope Vietnam Technological Livestock Services Co.,
10%, 20% (note 1)
Ltd.
Sichuan New Hope Agriculture (Cambodia) Co., Ltd. 20% (note 1)
Myanmar New Hope Agro-Technology Co., Ltd. Tax free (note 1)
New Hope Mandalay Co., Ltd. Tax free (note 1)
New Hope Laos Co., Ltd. 8% (note 1)
PT New Hope Medan 22%
PT New Hope Farms Indonesia 22%
PT New Hope Farms Indonesia Jawa Timur Branch 22%
PT New Hope Jawa Timur 22%
PT New Hope Jawa Timur Mojokerto Branch 22%
PT New Hope Indonesia 22%
PT New Hope Indonesia Jawa Tengah Branch 22%
PT New Hope Indonesia Cirebon Branch 22%
PT New Hope Indonesia Lampung Branch 22%
PT New Hope Indonesia Makassar 22%
PT New Hope Poultry Trade Indonesia 22%
PT New Hope Food Indonesia 22%
PT New Hope Aqua Feed Indonesia 22%
PT Corn Drying Indonesia 22%
PT Corn Drying Indonesia Lampung Branch 22%
New Hope Tarlac Agriculture Inc. 1%, 25% (note 1)
New Hope Isabela Agriculture Inc. 1%, 25% (note 1)
New Hope Central Luzon Agriculture Inc. 1%, 25% (note 1)
New Hope Pampanga Agriculture Inc. 1%, 25% (note 1)
New Hope Bulacan Agriculture Inc. 1%, 25% (note 1)
New Hope Philippines Animal Healthcarae Services Inc. 1%, 20% (note 1)
New Hope Davao Agriculture Ltd. Tax free (note 1)
New Hope Philippines Livestock Inc. Tax free (note 1)
New Hope Farms Bangladesh Ltd. 0.6% (note 1)
New Hope Bangladesh Ltd. 3%, 10%, 15% (note 1)
New Hope Agrotech Bangladesh Ltd. 3%, 10%, 15% (note 1)
Xinhe International Trade Co., Ltd. 30%
New Hope Animal Nutrition Bangladesh Ltd. 3%, 10%, 15% (note 1)
New Hope Lanka (Pvt) Limited 20%
New Hope Kolkata Animal Feed Private Ltd. 30%
New Hope South Africa Ltd. 27%, 28%
New Hope Egypt Ltd. 22.5%
New Hope Egypt Aquatic Technology Ltd. 22.5%
New Hope Agriculture (Egypt) Ltd. 22.5%
New Hope Alexander Ltd. 22.5%
New Hope Egypt Poultry Ltd. Tax free (note 1)
New Hope Agro-technology Nigeria Ltd. 30%
Myanmar New Hope Farms Co., Ltd. 22%
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New Hope Turkey Feed and Farming Food Import & Export
22%
and Industry Ltd.
Xinhe Myanmar Agro-technology Co., Ltd. 22%
2. Tax preferences
(I) VAT
(1) According to the Proclamation of the Ministry of Finance, the State Administration of Taxation and General Administration of
Customs on Policies Deepening the VAT Reform (Proclamation of MoF, SAT and GAC 2019 No. 39), as of April 1, 2019, the tax
rate applicable to production and sale of feed products by feed manufacturers of the company has been adjusted to 9%. In addition,
according to the Notice of the Ministry of Finance and the State Administration of Taxation on Issues regarding Exemption of
Value-added Tax on Feed Products (C.S.[2001]No.121), feed products produced and sold by feed manufacturers that meet its
provisions are exempted from VAT. Taxable goods sold by feed manufacturers other than feeds are subject to a VAT rate of 3%
(small taxpayers) or 9% or13% (general taxpayers).
(2) The preliminarily processed products produced by domestic slaughtering and meat packing businesses of the Company,
according to the Proclamation of the Ministry of Finance, the State Administration of Taxation and General Administration of
Customs on Policies Deepening the VAT Reform (Proclamation of MoF, SAT and GAC 2019 No. 39), are subject to a tax rate of
9% as of April 1, 2019, and the VAT rate applicable to delis and deep processed products is 13%.
(3) The domestic farming businesses of the company are exempted from VAT according to Article 15 “Self-made agricultural
products sold by agricultural producers are exempted from VAT” of the Interim Regulations of the People’s Republic of China on
Value-added Tax.
(4) The feed products and fresh meat and egg products sold by domestic trading businesses of the company are exempted from
VAT, while other products are subject to a VAT rate of 13% or 9% instead as of April 1, 2019 according to the Proclamation of
the Ministry of Finance, the State Administration of Taxation and General Administration of Customs on Policies Deepening the
VAT Reform (Proclamation of MoF, SAT and GAC 2019 No. 39).
(5) Subsidiaries Sichuan Xinle Plastics Co., Ltd, Zibo Huide Feed Machinery Co., Ltd. and Chengdu Fenglan Technology Co., Ltd.
are subject to a VAT rate of 13% as of April 1, 2019 according to the Proclamation of the Ministry of Finance, the State
Administration of Taxation and General Administration of Customs on Policies Deepening the VAT Reform (Proclamation of MoF,
SAT and GAC 2019 No. 39).
According to the Proclamation of the Ministry of Finance and the State Administration of Taxation on Exempting Value-Added
Taxes for Small-scale VAT Taxpayers (MoF & SAT Proclamation 2023 No. 1), from January 1, 2023 to December 31, 2023,
small-scale VAT taxpayers with monthly sales of less than 100,000 yuan (inclusive) are exempt from value-added tax; the taxable
sales income of small-scale VAT taxpayers subject to a rate of 3% is subject to value-added tax at a reduced rate of 1%; and the
VAT pre-paid items subject to a 3% pre-collection rate are subject to 1% advance payment of VAT.
(7) Among overseas subsidiaries, the sales of feed products and sales of self-produced agricultural products of breeding business
by subsidiaries operating in Vietnam are exempted from VAT, and the VAT rate for the disposal of waste materials and fixed
assets is 10%; subsidiaries in Sri Lankan are subject to a VAT rate of 15%; GST consumption tax (VAT) at 7% on goods and
services sold locally by New Hope Singapore Pte. Ltd. and New Hope Singapore Premix Pte. Ltd.; feed sales exempted from VAT,
and VAT rate at 15% for other taxable items of New Hope South Africa Limited; feed products sold by subsidiaries operating in
Indonesia, Bangladesh, the Philippines, Cambodia, Egypt and other countries are exempted from VAT.
(II) Urban maintenance and construction tax, and education surcharge
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The company and its domestic subsidiaries shall follow the following tax rate: (1) urban construction tax shall be calculated and
paid at 7%, 5% or 1% of the turnover tax payable by region; (2) education surcharge shall be paid at 3% of the turnover tax
payable, and local education surcharge shall be paid at 2% of the turnover tax payable.
(III) Enterprise income tax
(1) According to the Proclamation on Continuing Enterprise Income Tax Policy for the Go-west Strategy (MoF Proclamation
2020 No. 23) jointly issued by the Ministry of Finance, the State Administration of Taxation and NDRC, “from January 1, 2021 to
December 31, 2030, enterprises established in west China that operate in encouraged industries are subject to enterprise income
tax at a reduced rate of 15%.” Mianyang Branch and the subsidiaries of the company established in west China, including Zunyi
Jiahao, Guiyang Xinke, Qiandongnan New Hope, Chongqing Guoxiong, Ziyang Jiahao, Luzhou New Hope, Hope Food, Zigong
Hengbo, Pucheng New Hope, Lanzhou New Hope, Yulin New Hope, Guilin New Hope, Pengshan New Hope, Century Investment,
Wulong New Hope, Kai County New Hope, Chongqing New Hope, Fenglan Technology and Ningxia New Hope, are subject to an
income tax rate of 15%. All branches operating across regions aggregate and settle their income tax with the tax authority
governing the parent company at the end of year following the principles of “unified calculation, level-by-level management, local
prepayment, aggregate clearing and fiscal allocation”.
(2) The meat food processing businesses of the company are exempted from enterprise income tax with respect to their
preliminary meat processing operations according to Paragraph 1 in Article 27 of the Enterprise Income Tax Law of the People’s
Republic of China, Article 86 of the Implementing Regulations for Enterprise Income Tax Law of the People’s Republic of China
and Document C.S.(2008) No. 149 ; the deep processing business is subject to income tax rate of 25%.
(3) The breeding businesses of the company are exempted from enterprise income tax with respect to their livestock and poultry
breeding operations according to Paragraph 1 in Article 27 of the Enterprise Income Tax Law of the People’s Republic of China
and Article 86 of the Implementing Regulations for Enterprise Income Tax Law of the People’s Republic of China, and have
completed filings for tax exemption.
(4) The subsidiary Weifang New Hope Liuhe Feed Technology Co., Ltd is designated as high-tech enterprise, and according to
Article 28 of the Enterprise Income Tax Law of the People’s Republic of China, high-tech enterprises that the state needs to
particularly support are subject to enterprise income tax at a reduced rate of 15%.
(5) Hong Kong Dongxian Co., Ltd. and New Hope Liuhe International Trade (HK) Co., Ltd.,both registered in Hong Kong, are
subject to the income tax rate of 16.5%.
(6) According to the Notice of Ministry of Finance and State Administration of Taxation on Enterprise Income Tax Preferential
Policy for Hainan Free Trade Port (C.S.[2020] No. 31), companies in encouraged industries that are registered in Hainan Free
Trade Port and substantially operate are subject to a reduced enterprise income tax rate of 15%, to which Hainan Trading is
applicable.
(7) Enterprise income tax policies for overseas subsidiaries of the company:
① New Hope Hanoi Co., Ltd., Than Hoa New Hope Livestock Services Co., Ltd., New Hope Binh Dinh Livestock Co., Ltd. and
New Hope Vietnam Technological Livestock Services Co., Ltd. are subject to income tax rate of 10% with respect to their main
business in 2023 according to the local preferential tax policies, while income from their non-main businesses is not entitled to
income tax preference and is subject to income tax rate of 20%.
② New Hope Ho Chi Minh City Co., Ltd. is subject to an income tax rate of 15% with respect to its Phase I project, 20% with
respect to the remaining Phase II and Phase III according to the local preferential tax policies, among which Phase I accounts for
25.03%.
③ New Hope Vinh Long Co., Ltd. is subject to the policy of “three-year tax exemption, nine-year tax reduction by half” for 15
years from the opening date according to local preferential tax policies, so the enterprise income tax rate for 2023 is 5%.
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④ New Hope Hanoi Co., Ltd. Haiphong Branch is subject to income tax rate of 10% with respect to 52% of taxable income from
its main business according to the local preferential tax policies, while income from its non-main businesses is not entitled to
income tax preference and is subject to the normal income tax rate of 20%.
⑤ New Hope Dong Thap Aquatic Feed Co., Ltd. is subject to income tax rate of 20% for Phase I; for Phase II, exempted for 2
years (2018 to 2019) from 2018, halved at 10% for 4 years (2020 to 2023) and at 20% since 2024, so the income tax rate in 2022
was 10%; for Phase III, exempted for 2 years (2021 to 2022) from 2021, halved at 10% for 4 years (2023 to 2026) and at 20%
since 2027, so the income tax rate for 2023 is 10%; for Phase IV, exempted for 2 years (2022 to 2023) from 2022, halved at 10%
for 4 years (2024 to 2027) and at 20% since 2028, so the income tax rate for 2023 is 0%. The four phases accounts for 42%, 33%,
16% and 9% respectively.
⑥ New Hope Binh Phuoc Livestock Co., Ltd. is subject to income tax rate of 7.5% for its main business according to the local
preferential tax policies, while income from other businesses is not entitled to the income tax preference and is subject to the
normal income tax rate of 15%.
⑦ New Hope Davao Agriculture Ltd. is exempted from enterprise income tax until May 2027 according to the local tax laws; and
New Hope Philippines Livestock Inc. is exempted from enterprise income tax until February 2024 according to the local tax laws;
⑧ Myanmar New Hope Agro-Technology Co., Ltd. is exempted from enterprise income tax for 5 years starting from official
production and sales operations according to local preferential tax policies. This company was put into operation in November
2018 and is free from income tax from January 1, 2023 to October 31, 2023. New Hope Mandalay Co., Ltd. is exempted from
enterprise income tax for 5 years starting from official production and sales operations according to local preferential tax policies.
This company was put into operation on January 2, 2021 and its tax holiday (from January 2, 2021 to December 31, 2025) covers
the year of 2023.
⑨ New Hope Laos Co., Ltd. is subject to income tax rate of 8% in 2023 according to local preferential tax policies.
⑩ The enterprise income tax on trade income of New Hope Singapore Pte. Ltd. is subject to three preferential tax rates and
periods, 5% (DEI) for 5 years (July 1, 2015 to June 30, 2020) +3 years (July 1, 2020 to June 30, 2023), 10% for 2 years (July 1,
2023 to June 30, 2025), 10.5% for 3 years (July 1, 2025 to June 30, 2028). Therefore, the income tax rate on trade income in the
first half of 2023 is 5%. Where interest and management fee revenue is involved, the company is subject to an income tax rate of
8% (FTC), with a preferential period of 5 years (July 1, 2022 to June 30, 2027), and the company is exempted from withholding
tax (withholding income tax on interest) in Singapore when paying interest expenses to overseas banking institutions and affiliates;
the remaining related income is not entitled to the aforesaid preferences, and is subject to an income tax rate of 17%. In the
calculation, the first 10,000 Singapore dollars of taxable income are 75% exempted from income tax, the subsequent 190,000
Singapore dollars thereof are 50% exempted from income tax and the portion in excess of 200,000 Singapore dollars is not entitled
to tax reduction or exemption.
New Hope Egypt Poultry Ltd. is exempted from enterprise income tax within 10 years of commencement date of its production
activities with respect to its revenue from activities related to livestock, fishery, poultry raising and honey production according to
the local preferential tax policies. This company was put into operation in December 2020 and was exempted from tax in 2023.
New Hope Central Luzon Agriculture Inc., New Hope Tarlac Agriculture Inc., New Hope Bulacan Agriculture Inc., New Hope
Isabela Agriculture Inc. and New Hope Pampanga Agriculture Inc. are taxed at the higher of 1% of their gross profits or 25% of
their total profits from January to June 2023, and the higher of 2% of their gross profits or 25% of their total profits from July to
December 2023 according to the local tax laws. New Hope Philippines Animal Healthcarae Services Inc. is taxed at the higher of
1% of its gross profits or 20% of its actual profits according to the local tax laws.
New Hope Bangladesh Ltd., New Hope Agrotech Bangladesh Ltd., New Hope Farms Bangladesh Ltd. and New Hope Animal
Nutrition Bangladesh Ltd. are subject to income tax at 35% of revenue with respect to the bank deposit interest revenue part of
their total profits (10% withheld by banks), income tax at 35% with respect to net non-business revenue and expenditure and
income tax by segment with respect to the total profits net of interest and non-business revenue and expenditures; New Hope
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Bangladesh Ltd., New Hope Agrotech Bangladesh Ltd. and New Hope Animal Nutrition Bangladesh Ltd. are subject to a tax rate
of 3% with respect to the portion less than 1 million Taka (inclusive); 10% with respect to the portion of 1 million Taka-2 million
Taka (inclusive); and 15% with respect to the portion larger than 2 million Taka. For New Hope Farms Bangladesh Ltd., the first
option is as follows: tax rate of 0 on less than 1 million Taka (inclusive) income; tax rate of 5% on 1 million-2 million Taka
(inclusive); and tax rate of 10% on more than 2 million Taka income. The second option is 0.6% of all revenue. The actual tax rate
is whichever higher between the two options.
New Hope Singapore Premix Pte. Ltd., NHCS Investment Pte. Ltd., New Hope Singapore Biotechnology Pte. Ltd., New Hope
Asia Investment Pte. Ltd., New Hope International Holdings (Pte.) Ltd. and New Hope Global Investment Pte. Ltd. are subject to
income tax rate of 17% in 2023 according to the local tax policy.
New Hope Binh Dinh Livestock Co., Ltd., New Hope Hanoi LLC Bac Giang Branch, New Hope Hanoi LLC Thanh Hoa
Branch, and New Hope Lanka (Pvt) Limited are subject to income tax rate of 20% in 2023 according to respective local tax policy.
Myanmar New Hope Farms Co., Ltd., Xinhe Myanmar Agro-technology Co., Ltd., PT New Hope Medan, PT New Hope Farms
Indonesia, PT New Hope Farms Indonesia Jawa Timur Branch, PT New Hope Jawa Timur, PT New Hope Jawa Timur Mojokerto
Branch, PT New Hope Indonesia, PT New Hope Indonesia Jawa Tengah Branch, PT New Hope Indonesia Cirebon Branch, PT
New Hope Indonesia Lampung Branch, PT New Hope Indonesia Makassar, PT New Hope Poultry Trade Indonesia, PT New Hope
Food Indonesia, PT New Hope Aqua Feed Indonesia, PT Corn Drying Indonesia, PT Corn Drying Indonesia Lampung Branch and
New Hope Turkey Feed and Farming Food Import & Export and Industry Ltd. are subject to income tax rate of 22% in 2023
according to respective local tax policy.
Xinhe International Trade Co., Ltd., New Hope Kolkata Animal Feed Private Ltd. and New Hope Agro-technology Nigeria Ltd.
are subject to income tax rate of 33% in 2023 according to respective local tax policy.
New Hope South Africa Ltd. was subject to income tax rate of 28% from January to March 2023 and 27% after March 31
according to the local tax policy.
New Hope Egypt Ltd., New Hope Egypt Aquatic Technology Ltd., New Hope Agriculture (Egypt) Ltd. and New Hope
Alexander Ltd. are subject to income tax rate of 22.5% in 2023 according to the local tax policy.
Sichuan New Hope Agriculture (Cambodia) Co., Ltd. is subject to the higher income tax rate of 1% of its business income or
20% of its total profits according to the local tax laws.
Note: 1. The income tax preferential policies applicable to the company are detailed in Section 2. (III)(8) “Enterprise income tax
preferential policies for overseas subsidiaries of the company”.
2. Apart from the aforesaid companies, all other majority-owned subsidiaries are subject to income tax rate of 25%.
3. Others
VII. Notes to items in consolidated financial statements
1. Monetary capital
Unit: yuan
Item Ending balance Beginning balance
Cash on hand 20,187,552.74 18,939,835.86
Bank deposits 9,795,394,859.48 10,060,168,119.87
Other monetary capital 1,335,204,797.97 1,433,322,226.62
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Total 11,150,787,210.19 11,512,430,182.35
Wherein: total amount deposited abroad 1,220,709,331.07 645,143,177.27
Total amount restricted from use due to mortgage,
948,272,428.70 698,411,008.11
pledge or freeze
Other remarks
(1) Among the ending balance of other monetary capital, the balance of various margins was 948,272,428.70 yuan, which is
unavailable due to restrictions on use, therefore it is included in the monetary capital in the balance sheet, and not presented as
“cash and cash equivalents” in the cash flow statement; in addition, there is time deposit of 1,100,000,000.00 yuan in the ending
balance of bank deposits, which the company intends to hold to maturity, therefore it is included in the monetary capital in the
balance sheet, and not presented as “cash and cash equivalents” in the cash flow statement.
(2) There were no momentary capital deposited abroad and the repatriation of which is restricted.
2. Held-for-trading financial assets
Unit: yuan
Item Ending balance Beginning balance
Financial assets at fair value through profit or loss 77,510,307.04 148,914,177.97
Wherein:
Derivative financial assets 77,510,307.04 98,914,177.97
Others 50,000,000.00
Wherein:
Total 77,510,307.04 148,914,177.97
Other remarks
(1) The derivative financial assets in the held-for-trading financial assets mainly consist of interest rate swaps and futures contracts
purchased.
(2) There were no significant restrictions on sale or realization of various financial assets at fair value through profit or loss at the
end of the period.
3. Notes receivable
(1) Notes receivable presented by category
Unit: yuan
Item Ending balance Beginning balance
Bank acceptance bills 79,954,548.85 54,666,210.00
Commercial acceptance bills 231,188,321.25 391,200.00
L/C 27,100,000.00 23,700,000.00
Total 338,242,870.10 78,757,410.00
In case of bad debt provision for notes receivable accrued by general model of expected credit loss, please disclose related
information about bad debt provision by reference to the disclosure mode of other receivables:
□applicable not applicable
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(2) Notes receivable already endorsed or discounted by the company at the end of period and not yet
expired at the balance sheet date
Unit: yuan
Amount derecognized at the end of Amount not derecognized at the end of
Item
period period
Bank acceptance bills 1,097,457,807.02
Commercial acceptance bills 5,568,469,599.66
L/C 415,958,413.88
Total 7,081,885,820.56
4. Accounts receivable
(1) Accounts receivable disclosed by category
Unit: yuan
Ending balance Beginning balance
Book balance Bad debt provision Book balance Bad debt provision
Categor
y Proporti Book Proporti Book
Proporti value Proporti value
Amount Amount on Amount Amount on
on on
accrued accrued
Account
s
receivab
le with
71,608,8 58,241,1 13,367,7 56,283,2 32,650,5 23,632,6
provisio 3.12% 81.33% 3.49% 58.01%
58.80 56.42 02.38 77.01 81.91 95.10
n for bad
debts by
individu
al item
Wher
ein:
Account
s
receivab
le with
provisio 2,226,20 302,280, 1,923,92 1,554,40 292,173, 1,262,23
96.88% 13.58% 96.51% 18.80%
n for bad 7,143.27 973.20 6,170.07 6,773.73 619.38 3,154.35
debts on
a
portfolio
basis
Wher
ein:
2,297,81 360,522, 1,937,29 1,610,69 324,824, 1,285,86
Total 100.00% 15.69% 100.00% 20.17%
6,002.07 129.62 3,872.45 0,050.74 201.29 5,849.45
Provision for bad debts by individual item: accounts receivable with provision for bad debts in excess of the company’s policy
provision
Unit: yuan
Name Ending balance
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Bad debt Proportion
Book balance Reason for provision
provision accrued
By recoverable amount lower
PT.GUNUNG UNGGAS INDONESIA 16,065,198.48 13,111,495.53 81.61%
than book value
PT.INTERTAMA TRIKENCANA By recoverable amount lower
4,898,808.43 624,598.07 12.75%
BERSINAR than book value
By recoverable amount lower
PT. KERINCI BUMI PERSADA 4,550,275.92 4,349,564.82 95.59%
than book value
By recoverable amount lower
SUPA AT 4,006,288.25 1,610,527.87 40.20%
than book value
By recoverable amount lower
PT JANU PUTRA SEJAHTERA 3,657,948.66 2,478,260.22 67.75%
than book value
By recoverable amount lower
SPS MITRA 2,670,112.07 2,670,112.07 100.00%
than book value
By recoverable amount lower
DRH.H. BAGUS SETIABUDI 2,648,415.00 2,648,415.00 100.00%
than book value
By recoverable amount lower
HARI CERAH FARM (HCF) 2,466,964.88 2,466,964.88 100.00%
than book value
By recoverable amount lower
PT. UNGGAS MANDIRI INDONESIA 2,452,438.39 2,452,438.39 100.00%
than book value
By recoverable amount lower
PT JANU PUTRA SEJAHTERA 2,270,061.23 2,270,061.23 100.00%
than book value
By recoverable amount lower
KAYTANPIO FARM, INC. 2,183,764.75 2,183,764.75 100.00%
than book value
PT.UNGGAS BERSAMA SENTOSA By recoverable amount lower
2,002,123.21 1,281,634.32 64.01%
PERKASA than book value
PT.LATANSA UNGGAS MAKMUR By recoverable amount lower
1,968,132.82 1,968,132.82 100.00%
INDONESIA (PT.LUMI) than book value
By recoverable amount lower
PT NANDA BERKAH INDONESIA 1,878,532.80 241,194.11 12.84%
than book value
By recoverable amount lower
ISA BAGUS DWINATA,SE 1,850,248.45 1,850,248.45 100.00%
than book value
By recoverable amount lower
PT.INTI MITRA SUKSES 1,784,848.73 1,784,848.73 100.00%
than book value
By recoverable amount lower
SWA SENTRAL TERNAK(SST) 1,557,614.48 1,557,614.48 100.00%
than book value
By recoverable amount lower
PT.GUNUNG UNGGAS INDONESIA 1,475,419.95 1,475,419.95 100.00%
than book value
PT.UNGGAS MANDIRI INDONESIA By recoverable amount lower
1,389,467.86 1,389,467.86 100.00%
(PT.UMI) than book value
By recoverable amount lower
BAGUS FARM(NURKHOLIS) 1,348,284.00 1,348,284.00 100.00%
than book value
By recoverable amount lower
Zhao Jiu 1,149,540.00 1,149,540.00 100.00%
than book value
By recoverable amount lower
PT.MAHKOTA UNGGAS LESTARI 1,097,921.90 1,097,921.90 100.00%
than book value
By recoverable amount lower
SCRS VETERINARY TRADING 1,086,833.50 1,086,833.50 100.00%
than book value
By recoverable amount lower
PT.SUMBER INTAN PERKASA 1,054,400.22 1,054,400.22 100.00%
than book value
By recoverable amount lower
Liu Quanshen 1,038,970.00 1,038,970.00 100.00%
than book value
M.B. DECENA JR. LIVESTOCK By recoverable amount lower
667,118.27 667,118.27 100.00%
DEALER than book value
By recoverable amount lower
PT.Lumajang Satwa 572,310.92 572,310.92 100.00%
than book value
Zhang Lina 522,720.00 522,720.00 100.00% By recoverable amount lower
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than book value
By recoverable amount lower
MAKMUR KITA PS 504,192.25 504,192.25 100.00%
than book value
By recoverable amount lower
CV ANUGERAH BERMITRA 219,447.67 219,447.67 100.00%
than book value
By recoverable amount lower
RIYANTO 151,681.62 150,110.54 98.96%
than book value
By recoverable amount lower
SUNARTO 130,610.44 130,610.44 100.00%
than book value
By recoverable amount lower
SUGENG RAHAYUDI 104,010.48 102,951.01 98.98%
than book value
By recoverable amount lower
AR ROHMAN PS 97,461.66 94,290.64 96.75%
than book value
By recoverable amount lower
SAMSUL ARIFIN 86,691.51 86,691.51 100.00%
than book value
Total 71,608,858.80 58,241,156.42
Provision for bad debts by portfolio: overseas accounts receivable with provision for bad debts by portfolio
Unit: yuan
Ending balance
Name
Book balance Bad debt provision Proportion accrued
Risk free 114,025,409.34 0.00 0.00%
Low risk 553,049,647.59 15,208,867.32 2.75%
Medium risk 41,838,404.05 8,112,466.85 19.39%
High risk 123,393,792.34 123,393,792.34 100.00%
Total 832,307,253.32 146,715,126.51
Remarks on basis for determination of this portfolio:
For accounts receivable classified as risk portfolio, the company prepares the table of comparison between ages of accounts
receivable and expected credit loss rate during the entire existence and calculates the expected credit loss by reference to the
historical credit loss experience and in light of the current situation and forecast future economic situation.
A. Accounts receivable of overseas businesses
S/N Risk analysis Expected credit loss rate
A-1 Risk free 0.00%
A-2 Low risk 2.75%
A-3 Medium risk 19.39%
A-4 High risk 100.00%
Provision for bad debts by portfolio: domestic accounts receivable with provision for bad debts by portfolio
Unit: yuan
Ending balance
Name
Book balance Bad debt provision Proportion accrued
Low risk 1,153,537,579.30 15,111,345.23 1.31%
Relatively lower risk 107,174,221.60 7,266,412.41 6.78%
High risk 133,188,089.05 133,188,089.05 100.00%
300
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Total 1,393,899,889.95 155,565,846.69
Remarks on basis for determination of this portfolio:
For accounts receivable classified as risk portfolio, the company prepares the table of comparison between ages of accounts
receivable
and expected credit loss rate during the entire existence and calculates the expected credit loss by reference to the historical credit
loss experience and in light of the current situation and forecast future economic situation.
B. Accounts receivable of domestic businesses
S/N Risk analysis Expected credit loss rate
B-1 Low risk 1.31%
B-2 Relatively lower risk 6.78%
B-3 High risk 100.00%
In case of bad debt provision for accounts receivable accrued by general model of expected credit loss, please disclose related
information about bad debt provision by reference to the disclosure mode of other receivables:
□applicable not applicable
Disclosure by age
Unit: yuan
Age Ending balance
Less than 1 year (inclusive) 2,054,775,093.22
Wherein: less than 6 months 1,887,020,201.51
7-12 months 167,754,891.71
1-2 years 74,079,880.26
2-3 years 52,154,554.77
Over 3 years 116,806,473.82
3-4 years 50,414,966.63
4-5 years 14,547,673.69
Over 5 years 51,843,833.50
Total 2,297,816,002.07
(2) Bad debt provision accrued, recovered or reversed in the current period
Bad debt provision accrued in the current period:
Unit: yuan
Current change
Beginning
Category Recovered Ending balance
balance Accrued Charged off Others
or reversed
Bad debt provision
for account 324,824,201.29 64,041,924.00 36,756,561.15 -8,412,565.48 360,522,129.62
receivables
Total 324,824,201.29 64,041,924.00 36,756,561.15 -8,412,565.48 360,522,129.62
301
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(3) Accounts receivable actually charged off in the current period
Unit: yuan
Item Amount charged off
Accounts receivable actually charged off 36,756,561.15
Of which, significant charge-off of accounts receivable:
Unit: yuan
Whether the
Charge- amounts
Nature of
Amount off were
Entity Name accounts Cause of charge-off
charged off procedure incurred by
receivable
performed related-party
transaction
Long time overdue,
Goods 20,231,843.
Beijing Jiaxin Hengtai Trade Co., Ltd. recognized as difficult to Note No
payment 71
recover
Long time overdue,
Goods 1,290,107.7
BINTANG MAS PS recognized as difficult to Note No
payment 1
recover
Long time overdue,
Goods 1,080,908.8
PT. INTAN PERMATA MITRA recognized as difficult to Note No
payment 0
recover
Long time overdue,
Goods
PT. BERLIAN SARANA MAKMUR 806,809.99 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
Li Chenghong 787,568.80 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
SUMBER MILIK FARM 721,577.01 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
FM FARM 631,945.68 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PT.UNGGAS PERMATA SEJAHTERA 604,440.22 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PT.SUMBER INTAN PERKASA 567,022.75 recognized as difficult to Note No
payment
recover
Long time overdue,
PT. UNGGAS BERKAH MAKMUR Goods
552,429.64 recognized as difficult to Note No
INDONESIA payment
recover
Long time overdue,
PT.MITRA AMAN SEJAHTERA Goods
516,518.66 recognized as difficult to Note No
INDONESIA payment
recover
Long time overdue,
Goods
JAGO MAS 416,594.65 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
CV MUTIARA UNGGAS MAKMUR 371,463.66 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
CV.DIAMOND CAHAYA ABADI 347,705.38 recognized as difficult to Note No
payment
recover
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Long time overdue,
Goods
CV MITRA GALA MANDIRI 339,468.48 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
CV TRADING AGAWE SANTOSA 320,422.11 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
RANCA KARYA FARM 317,577.84 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
UGM PS 273,792.89 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PT BAGELEN UNGGAS MAJU 272,129.00 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PT. METAFORA JAGAT RAYA 271,977.36 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PT ANDALAN TERNAK MAKMUR 246,168.46 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PANEN FARM 242,519.58 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
BAHRAN PS 235,661.53 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
RPA Barokah 205,533.07 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PT SUMBER PROTEIN INDONESIA 200,185.74 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
MARWOTO 196,533.80 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
RDS FARM 196,335.97 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
DHEA FARM 191,835.05 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
CV. RODA EMAS INDO PERKASA 190,798.69 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
LG FARM 181,351.33 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
MAJU JAYA FARM 158,542.16 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
CV MULTI MITRA INDO FARM 158,412.48 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
CV.ADIKARA FARM 156,621.54 recognized as difficult to Note No
payment
recover
303
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Long time overdue,
Goods
BUDIYANTO FARM 155,845.85 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
RIZKI BERKAH UTAMA 154,357.74 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
Kong Lingjie 143,800.00 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
SURYADI 141,488.49 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
SENTRA SEMBAKO JAYA 138,524.72 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
SRIYANTI 138,064.21 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PT.BRANTAS ABADI SENTOSA 137,512.39 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
SUPARNI 136,905.63 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
TIARA FARM 129,255.77 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
Liu Chang 123,445.50 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
PUTRA JAYA FARM 122,922.24 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
VILINSIA SAMUEL LAU 117,539.75 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
AINA AINI 112,007.79 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
CV JAGO PUTRA SALAMAN 109,903.37 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
IRENE FARM 100,961.05 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
I WAYAN SUARTIKA 93,888.79 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
Meng Liang 89,452.00 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
WIDODO WALUYO 82,487.03 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
LASKAR PELANGI 79,177.72 recognized as difficult to Note No
payment
recover
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Long time overdue,
Goods
BAROKAH BERKAT MANDIRI 78,729.42 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
TANDJAJA FARM 76,507.74 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
DANIEL ABRAHAM CIAHAYA 74,375.27 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
MEGA JULIA RAIZ 72,866.35 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
CEBONGAN PS 71,130.62 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
ALAM RAYA GRUP 70,881.27 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
UDIN JAYA GROUP 68,179.56 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
SATRIA PS 66,618.34 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
IMC GROUP 65,238.29 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
Nurmala Fajriyah 64,949.19 recognized as difficult to Note No
payment
recover
Long time overdue,
Goods
MEGA JAYA FARM 57,499.38 recognized as difficult to Note No
payment
recover
Shuangying Hardware and Dlectrical Long time overdue,
Goods
Store at Xiangyang Road, Chengguan 55,717.00 recognized as difficult to Note No
payment
Town, Tangyin County recover
Long time overdue,
Goods
Others 343,524.94 recognized as difficult to Note No
payment
recover
36,756,561.
Total
15
Remarks on accounts receivable charged off
For receivables that are indeed unrecoverable, individual charged-off amount of <0.5 million yuan is submitted to the CFO,
vice president and president of joint-stock company for approval after being approved by the tier-2 business unit; individual
charged-off amount of ≥ 0.5 million yuan is submitted to the chairman for approval.
(4) Top 5 accounts receivable in ending balance by debtor
Unit: yuan
Ending balance of Percentage in the total ending balance of Ending balance of
Entity Name
accounts receivable accounts receivable bad debt provision
Bengbu Tianbang Feed Technology
100,104,032.42 4.36% 1,311,362.63
Co., Ltd.
305
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Walmart (China) Investment Co., Ltd. 45,813,818.47 1.99% 600,161.01
Xinzhi Huide Machinery Technology
29,688,563.09 1.29% 4,796,636.34
Co., Ltd.
Liaocheng Xinxing Shangyu Down
26,058,024.72 1.13% 1,674,417.24
Products Co., Ltd.
Nanjing Heda Food Co., Ltd. 25,027,303.01 1.09% 25,027,303.01
Total 226,691,741.71 9.86%
(5) Accounts receivable terminated recognition due to transfer of financial assets
Within this period, there was no termination of the recognition of accounts receivable due to the transfer of financial assets, nor
transfer of accounts receivable and continued involvement of assets and liabilities formed.
(6) Others
Negotiable accounts receivable debentures already endorsed or discounted by the company at the end of period and not yet expired
at the balance sheet date was 217,376,900.39 yuan.
5. Prepayments
(1) Prepayments presented by age
Unit: yuan
Ending balance Beginning balance
Age
Amount Proportion Amount Proportion
Less than 1 year 1,559,024,957.99 93.29% 2,841,127,875.18 99.32%
1-2 years 106,070,586.98 6.35% 14,551,748.45 0.51%
2-3 years 6,001,442.23 0.36% 4,816,453.93 0.17%
Total 1,671,096,987.20 2,860,496,077.56
Remarks on causes of high-value prepayments aged over 1 year and not yet settled in time:
There were no significant prepayments aged over 1 year at the end of period.
(2) Top 5 prepayments in ending balance by payee
The aggregate amount of top five prepayments in ending balance by payee was 425,270,368.41 yuan, accounting for 25.45% of
the total ending balance of prepayments.
6. Other receivables
Unit: yuan
Item Ending balance Beginning balance
Dividends receivable 6,000,000.00 6,000,000.00
Other receivables 700,321,886.51 1,444,053,026.91
Total 706,321,886.51 1,450,053,026.91
306
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(1) Dividends receivable
(1) Dividends receivable by category
Unit: yuan
Project (or invested entity) Ending balance Beginning balance
Zibo Xinmu Machinery Technology Co.,
6,000,000.00 6,000,000.00
Ltd.
Total 6,000,000.00 6,000,000.00
(2) Other receivables
1) Other receivables categorized by nature of amount
Unit: yuan
Nature of amount Ending book balance Beginning book balance
Petty cash 16,060,741.28 17,997,014.81
Margin 278,040,039.20 329,998,426.35
Deposit 128,633,921.48 169,164,309.81
Temporary borrowings 245,563,179.49 724,290,387.95
Advances 256,871,867.09 194,977,914.40
Payments for share transfer 12,088,500.00 268,959,000.00
Others 42,550,517.41 40,664,864.56
Total 979,808,765.95 1,746,051,917.88
2) Bad debt provision accrued
Unit: yuan
Phase 1 Phase 2 Phase 3
Expected credit loss Expected credit loss
Bad debt provision Expected credit loss Total
over the entire over the entire duration
in the coming 12
duration (no credit (with credit
months
impairment) impairment)
Balance as of Jan. 1, 2023 122,149,879.83 179,849,011.14 301,998,890.97
Balance as of Jan. 1, 2022
in the current period
--transferred to phase 3 4,134,032.47 -4,134,032.47
Current reversal 32,061,345.04 32,061,345.04
Charged off in the current
7,789,417.82 7,789,417.82
period
Other changes 241,624.00 17,097,127.33 17,338,751.33
Balance as of Jun. 30, 2023 94,464,191.26 185,022,688.18 279,486,879.44
Changes in book balance with respect to which current changes in the loss provision are significant
□applicable not applicable
Disclosure by age
Unit: yuan
Age Ending balance
307
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Less than 1 year (inclusive) 474,997,729.25
1-2 years 212,483,991.38
2-3 years 113,296,810.04
Over 3 years 179,030,235.28
3-4 years 20,764,072.18
4-5 years 28,267,849.73
Over 5 years 129,998,313.37
Total 979,808,765.95
3) Bad debt provision accrued, recovered or reversed in the current period
Bad debt provision accrued in the current period:
Unit: yuan
Current change
Beginning
Category Recovered or Ending balance
balance Accrued Charged off Others
reversed
Bad debt provision for -
301,998,890.97 32,061,345.04 7,789,417.82 279,486,879.44
other receivables 17,338,751.33
-
Total 301,998,890.97 32,061,345.04 7,789,417.82 279,486,879.44
17,338,751.33
The company’s bad debt provision for other receivables was 301,998,890.97 yuan at the end of the previous year;
bad debt provision reversed in the current period was 32,061,345.04 yuan;
increase in the balance of bad debt provision in the current period (represented in negative numbers) caused by other changes
mainly include:
1) Decrease of the bad debt provision by 5,767 yuan due to changes in subsidiaries;
2) Increase of the bad debt provision by 247,391 yuan due to changes in exchange rate;
3) Other receivables of 17,097,127.33 yuan charged off by the company prior to the current period but recovered in the current
period.
4) Other receivables actually charged off in the current period
Unit: yuan
Item Amount charged off
Other receivables actually charged off 7,789,417.82
Of which, significant charge-off of other receivables:
Unit: yuan
Whether the
Nature of Charge- amounts
other Amount charged off were
Entity Name Cause of charge-off
receivable off procedure incurred by
s performed related-party
transaction
Long time overdue,
Qingdao Zhongguan Grain and Current
3,259,964.51 recognized as difficult to Note No
Oil Co., Ltd. accounts
recover
Zibo Qinghe Ducks Co., Ltd. Current 1,600,000.00 Long time overdue, Note No
308
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accounts recognized as difficult to
recover
Long time overdue,
Current
HNA Group Finance Co., Ltd. 1,000,000.00 recognized as difficult to Note No
accounts
recover
Long time overdue,
Lin Yanxia’s Pig Farm Current
760,000.00 recognized as difficult to Note No
(Tangping Pig Farm) accounts
recover
Long time overdue,
Current
Ye Jinhua 150,000.00 recognized as difficult to Note No
accounts
recover
PICC Property and Casualty
Long time overdue,
Company Limited Guangxi Current
56,880.00 recognized as difficult to Note No
Zhuang Autonomous Region accounts
recover
Branch
Kaiping Chishui Town Banxi Long time overdue,
Current
Village Baimujing Economic 48,000.00 recognized as difficult to Note No
accounts
Cooperatives recover
Long time overdue,
Current
Li Changjiang 33,075.11 recognized as difficult to Note No
accounts
recover
Long time overdue,
Zibo Jinjie Natural Gas Pipeline Current
31,500.00 recognized as difficult to Note No
Transportation Service Co., Ltd. accounts
recover
Long time overdue,
Current
Pan Xi’an 22,645.00 recognized as difficult to Note No
accounts
recover
Long time overdue,
Current
Ning Haifeng 20,520.00 recognized as difficult to Note No
accounts
recover
Long time overdue,
Hubei Xiuhong Network Current
15,256.90 recognized as difficult to Note No
Technology Co., Ltd. accounts
recover
Long time overdue,
Current
Others 791,576.30 recognized as difficult to Note No
accounts
recover
Total 7,789,417.82
Remarks on other receivables charged off:
Note: for receivables that are indeed unrecoverable, individual charged-off amount <0.5 million yuan is submitted to the CFO,
vice president and president of the company for approval after being approved by the tier-2 business unit; individual charged-off
amount ≥ 0.5 million yuan is submitted to the chairman for approval.
5) Top 5 other receivables in ending balance by debtor
Unit: yuan
Percentage in the
Ending balance
Nature of total ending
Entity Name Ending balance Age of bad debt
amount balance of other
provision
receivables
Margin,
SDIC BIOTECH Investment Co., Less than 1 year,
security 58,314,580.25 5.95% 3,032,559.36
Ltd. 1- 2 years
deposit
Beijing Meihao Meideling Food Temporar Less than 1 year,
55,999,999.50 5.72% 5,781,999.93
Co., Ltd. y 1- 2 years
309
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borrowing
s
HSBC Margin 36,129,000.00 Less than 1 year 3.69% 1,824,514.50
Margin,
COFCO Trading Co., Ltd. security 34,294,871.56 Less than 1 year 3.50% 1,731,891.01
deposit
Proceeds
from
Linyi Pingyi County Finance disposal
32,998,213.82 1-2 years 3.37% 4,451,459.04
Bureau of non-
current
assets
Total 217,736,665.13 22.23% 16,822,423.84
7. Inventories
Whether the company is required to comply with disclosure requirements for real estate industry
No
(1) Inventories by category
Unit: yuan
Ending balance Beginning balance
Inventory Inventory
revaluation revaluation
reserve or reserve or
Item contract contract
Book balance Book value Book balance Book value
performance performance
cost cost
impairment impairment
provision provision
4,183,112,356. 4,174,085,424. 5,521,977,933. 5,514,025,320.
Raw materials 9,026,932.33 7,952,613.10
56 23 79 69
Products in
108,481,423.49 7,509.42 108,473,914.07 121,070,257.60 7,509.42 121,062,748.18
progress
4,948,824,351. 4,851,029,995. 3,406,636,674. 3,358,091,700.
Goods in stock 97,794,355.83 48,544,973.90
27 44 72 82
Revolving
79,375,093.96 215,720.63 79,159,373.33 85,791,920.90 215,720.63 85,576,200.27
materials
Consumptive
7,913,099,683. 7,450,725,647. 9,322,004,687. 8,674,124,134.
biological 462,374,035.56 647,880,552.59
04 48 06 47
assets
Contract
performance 0.00
costs
Goods in transit 0.00
Low-value
9,356,032.93 9,356,032.93 11,675,234.30 11,675,234.30
consumables
Packaging
118,028,559.31 1,494,966.38 116,533,592.93 137,387,180.45 1,240,981.39 136,146,199.06
materials
Outsourced
processed 126,620.24 126,620.24 381,984.80 381,984.80
materials
310
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17,360,404,120 16,789,490,600 18,606,925,873 17,901,083,522
Total 570,913,520.15 705,842,351.03
.80 .65 .62 .59
(2) Inventory revaluation reserve or contract performance cost impairment provision
Unit: yuan
Current increase Current decrease
Beginning
Item Reversed or Ending balance
balance Accrued Others Others
written off
Raw materials 7,952,613.10 2,301,104.01 50,670.28 1,277,455.06 9,026,932.33
Products in
7,509.42 7,509.42
progress
Goods in stock 48,544,973.90 104,275,851.95 55,026,470.02 97,794,355.83
Revolving
215,720.63 215,720.63
materials
Consumptive
biological 647,880,552.59 799,012,187.55 984,518,704.58 462,374,035.56
assets
Low-value
consumables
Packaging
1,240,981.39 626,883.76 372,898.77 1,494,966.38
materials
Outsourced
processed
materials
1,041,195,528.
Total 705,842,351.03 906,216,027.27 50,670.28 570,913,520.15
43
Details of inventory revaluation reserve:
Specific basis for
Reasons for current Reasons for current
Item accrual of inventory
reversal write-off
revaluation reserve
Requisitioned for
Net realizable value
Raw materials Price rebound production in the
lower than book value
current period
Requisitioned for
Net realizable value
Packaging materials Price rebound production in the
lower than book value
current period
Net realizable value Sold in the current
Goods in stock Price rebound
lower than book value period
Consumptive Net realizable value Sold in the current
Price rebound
biological assets lower than book value period
8. Other current assets
Unit: yuan
Item Ending balance Beginning balance
311
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VAT input tax to be deducted 86,344,979.39 98,410,733.98
Taxes prepaid 144,378,139.00 115,429,918.11
Interest receivable on time deposits 124,712,896.39 97,850,618.04
Total 355,436,014.78 311,691,270.13
Other remarks:
None
9. Long-term equity investments
Unit: yuan
Current increase or decrease
Profit
or loss Ending
Cash
Beginni on Adjust balance
dividen Ending
ng investm ment Impair of
Investe Additio Reduce ds or balance
balance ent for Other ment impair
d entity nal d profits (book
(book recogni other equity provisi Others ment
investm investm declare value)
value) zed compre changes on provisi
ent ent d for
using hensive accrued on
distribu
the income
tion
equity
method
I. Joint ventures
Taishan
Jiaxin
Logisti
cs Co.,
Ltd.
Beijing
Meihao
Meideli
ng
Food
Co.,
Ltd.
Anhui
Xinqiao
28,062, 752,748 28,814,
Down
222.67 .44 971.11
Co.,
Ltd.
Yan’an
Xinyon
gxiang -
42,793, 37,120,
Techno 5,673,1
725.70 540.87
logy 84.83
Co.,
Ltd.
Guangd
ong
-
Hope 552,802 523,799
29,003,
No.1 ,625.67 ,081.14
544.53
Equity
Investm
312
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ent
Partner
ship
(LP)
Shenya
ng New
Hope
New
Agricul -
678,426 676,435
tural 1,991,1
,762.58 ,592.04
Industr 70.54
y Fund
Partner
ship
(LP)
Hainan
Nongke
n New
Hope
-
Farmin 122,138 114,425
7,713,2
g ,857.19 ,642.99
14.20
Techno
logy
Co.,
Ltd.
Zhanjia
ng
Guangk
en 108,066 108,066
Xinhao ,199.91 ,199.91
Farmin
g Co.,
Ltd.
Shando
ng
Gongro
ng New
Hope
Equity 299,189 298,158 1,030,8
Investm ,814.76 ,931.45 83.31
ent
Fund
Partner
ship
(LP)
1,831,4 - 1,381,6
Subtota 406,225
80,208. 43,628, 26,711.
l ,131.36
48 365.66 46
II. Affiliates
China
21,649, 22,356,
Minshe 992,903 105,441 391,265
911,985 991,895
ng ,743.00 ,475.00 ,307.19
.17 .98
Bank
Guangz
-
hou 3,175,3 3,170,9
4,383.0
Chimia 41.81 58.74
7
n Co.,
313
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Ltd.
NHE
(Beijin
g)
9,457,3 2,244.3 9,459,6
Techno
92.32 4 36.66
logy
Co.,
Ltd.
Qianxin
an
Hope 14,120, 766,564 14,887,
Farmin 686.84 .54 251.38
g Co.,
Ltd.
Hebei
Kinghe
y
-
Sausag 3,790,1 3,131,4
658,724
e 34.71 10.29
.42
Casings
Co.,
Ltd.
New
Hope 1,406,7 1,455,1
48,405,
Finance 74,623. 79,698.
075.44
Co., 52 96
Ltd.
Nanjing
Heda
Food
Co.,
Ltd.
Qingda
o Big
Herdsm
227,084 32,451, 946,376 52,008, 208,473
an
,303.94 520.07 .92 750.00 ,450.93
Machin
ery Co.,
Ltd.
Anhui
Xinhua
2,732,4 2,732,4
Ducks
74.04 74.04
Co.,
Ltd.
Shangh
ai
Liuhe
50,161, 38,389. 50,200,
Qinqian
833.63 47 223.10
g Food
Co.,
Ltd.
Beijing
CERES
Agricul 400,000 400,000
tural .00 .00
Develo
pment
314
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Co.,
Ltd.
Shando
ng
Hypor -
14,618, 12,850,
Liuhe 1,768,2
700.00 447.62
Breedin 52.38
g Co.,
Ltd.
Anhui
Antai
Agricul
-
tural 56,134, 49,503,
6,630,8
Develo 358.34 478.34
80.00
pment
Co.,
Ltd.
Nanton
g
Yunfan
Networ -
15,809, 15,692,
k 116,893
295.27 401.38
Techno .89
logy
Co.,
Ltd.
Xinzhi
Huide
Machin
ery 53,843, 264,927 603,873 54,711,
Techno 103.10 .51 .80 904.41
logy
Co.,
Ltd.
Chengd
u
Tianfu
Xingxi
nxin -
416,841 412,583
Farmin 4,257,7
,593.70 ,854.26
g 39.44
Techno
logy
Co.,
Ltd.
Jiaohui
Dongfa
ng New
Hope
(Suzho
u) -
499,765 17,585, 480,827
Private 1,351,9
,486.24 968.32 ,600.71
Equity 17.21
Investm
ent
Fund
Co.,
Ltd.
315
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24,424, 1,060,0 25,130,
Subtota 105,441 1,550,2 460,860
621,312 43,673. 796,686
l ,475.00 50.72 ,025.51
.63 96 .80
26,256, 1,016,4 26,512,
406,225 105,441 1,550,2 460,860
Total 101,521 15,308. 423,398
,131.36 ,475.00 50.72 ,025.51
.11 30 .26
Other remarks
Note: As the net assets of Nanjing Heda Food Co., Ltd., Taishan Jiaxin Logistics Co., Ltd. and Beijing Meihao Meideling Food
Co., Ltd. were negative, the company wrote the investment cost down to 0 using the equity method.
10. Investments in other equity instruments
Unit: yuan
Item Ending balance Beginning balance
Minsheng Life Insurance Co., Ltd. 211,196,000.00 211,196,000.00
Hebei Xingda Feed Group Co., Ltd. 32,901,236.10 32,901,236.10
Beijing Baiyitong Technology Co., Ltd. 21,970,000.00 21,970,000.00
Guobao Life Insurance Co., Ltd. 15,000,000.00 15,000,000.00
HEcom (Beijing) Technology Co., Ltd. 10,596,503.84 10,596,503.84
Sinograin Laizhou Fenghe Logistics Co.,
10,000,000.00 10,000,000.00
Ltd.
Shaanxi Yangling Rural Commercial
7,020,000.00 7,020,000.00
Bank Co., Ltd.
Ziyang Agricultural Industrialization
4,500,000.00 4,500,000.00
Credit Guarantee Co., Ltd.
Meigu Arsha Planting & Farming
2,000,000.00 2,000,000.00
Specialized Cooperatives
Fengshun New Hope Biotechnology Co.,
65,086.44 65,086.44
Ltd.
Total 315,248,826.38 315,248,826.38
Current non-trading equity instrument investments disclosed by item
Unit: yuan
Amount of Reasons for Reasons for
other designation to be transferring
Dividend comprehensive measured at fair other
Accumulated Accumulated
Project name income income value through comprehensive
earnings losses
recognized transferred to other income to
retained comprehensive retained
earnings income earnings
Minsheng Life Insurance
6,784,000.00 Note
Co., Ltd.
Hebei Xingda Feed
Note
Group Co., Ltd.
Beijing Baiyitong
Note
Technology Co., Ltd.
Guobao Life Insurance
Note
Co., Ltd.
HEcom (Beijing)
Note
Technology Co., Ltd.
Sinograin Laizhou
Fenghe Logistics Co., Note
Ltd.
316
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Shaanxi Yangling Rural
Commercial Bank Co., Note
Ltd.
Ziyang Agricultural
Industrialization Credit Note
Guarantee Co., Ltd.
Meigu Arsha Planting &
Farming Specialized Note
Cooperatives
Fengshun New Hope
Note
Biotechnology Co., Ltd.
Total 6,784,000.00
Other remarks:
Note: investment in equity instruments of the company and its subsidiaries are investments planned by the company and its
subsidiaries to hold in long term for strategic purposes, therefore the company and its subsidiaries designate them as financial
assets measured at fair value through other comprehensive income on the date of first adoption of new financial instrument
standards.
11. Investment properties
(1) Investment properties measured at cost
applicable □not applicable
Unit: yuan
Houses and Construction
Item Land use right Total
buildings in progress
I. Original book value
1. Beginning balance 206,361,291.15 206,361,291.15
2. Current increase
(1) Purchased
(2) Transferred from inventory/fixed
assets/construction in progress
(3) Increase due to business
combination
3. Current decrease
(1) Disposed
(2) Other transfer-out
4. Ending balance 206,361,291.15 206,361,291.15
II. Accumulated depreciation and accumulated
amortization
1. Beginning balance 33,214,580.89 33,214,580.89
2. Current increase 4,530,713.67 4,530,713.67
(1) Depreciated or amortized 4,530,713.67 4,530,713.67
3. Current decrease
(1) Disposed
(2) Other transfer-out
317
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4. Ending balance 37,745,294.56 37,745,294.56
III. Impairment provision
1. Beginning balance
2. Current increase
(1) Accrued
3. Current decrease
(1) Disposed
(2) Other transfer-out
4. Ending balance
IV. Book value
1. Ending book value 168,615,996.59 168,615,996.59
2. Beginning book value 173,146,710.26 173,146,710.26
(2) Investment properties measured at fair value
□applicable not applicable
(3) Investment properties with title certificates pending
Unit: yuan
Item Book value Why title certificate pending
Self-built houses on leased land 97,822,983.33 Title cannot be secured for leased land
Other remarks
12. Fixed assets
Unit: yuan
Item Ending balance Beginning balance
Fixed assets 36,694,212,664.22 35,683,327,341.71
Total 36,694,212,664.22 35,683,327,341.71
(1) Details of fixed assets
Unit: yuan
Houses and Machinery and Transport
Item Others Total
buildings equipment equipment
I. Original
book value:
1.
Beginning 27,957,066,947.91 16,015,114,090.33 1,167,261,194.18 1,525,689,864.42 46,665,132,096.84
balance
2.
Current 1,370,350,746.72 960,830,728.47 19,696,752.95 79,808,536.24 2,430,686,764.38
increase
(1)
6,059,773.11 124,745,736.17 15,509,021.21 48,659,486.06 194,974,016.55
Purchased
(2) 1,272,365,076.53 781,582,040.81 22,749.69 28,448,487.86 2,082,418,354.89
318
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Transferred
from
construction in
progress
(3)
Increase due
to business
combination
(4)
Exchange rate 91,925,897.08 54,502,951.49 4,164,982.05 2,700,562.32 153,294,392.94
changes
3.
Current 110,473,545.85 93,291,645.24 13,340,285.70 24,261,828.56 241,367,305.35
decrease
(1)
Disposed or 22,118,312.37 50,343,678.54 9,673,005.18 21,153,474.23 103,288,470.32
scrapped
(2)
Decrease in 51,792,583.13 12,516,501.57 1,056,061.73 655,560.02 66,020,706.45
subsidiaries
(3)
Exchange rate 36,562,650.35 30,431,465.13 2,611,218.79 2,452,794.31 72,058,128.58
changes
4. Ending
29,216,944,148.78 16,882,653,173.56 1,173,617,661.43 1,581,236,572.10 48,854,451,555.87
balance
II.
Accumulated
depreciation
1.
Beginning 4,296,666,528.81 5,357,842,301.86 390,020,214.23 880,219,777.87 10,924,748,822.77
balance
2.
Current 521,180,198.19 585,049,245.46 53,864,543.10 121,354,102.71 1,281,448,089.46
increase
(1)
503,057,321.13 564,666,409.73 51,735,218.08 119,517,736.17 1,238,976,685.11
Accrued
(2)
Exchange rate 18,122,877.06 20,382,835.73 2,129,325.02 1,836,366.54 42,471,404.35
changes
3.
Current 28,097,885.20 50,907,334.26 7,689,262.26 16,269,666.87 102,964,148.59
decrease
(1)
Disposed or 10,834,750.07 33,297,285.27 6,198,439.71 14,133,760.92 64,464,235.97
scrapped
(2)
Decrease in 12,979,535.36 10,039,980.39 639,359.67 535,117.54 24,193,992.96
subsidiaries
(3)
Exchange rate 4,283,599.77 7,570,068.60 851,462.88 1,600,788.41 14,305,919.66
changes
4. Ending
4,789,748,841.80 5,891,984,213.06 436,195,495.07 985,304,213.71 12,103,232,763.64
balance
319
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
III.
Impairment
provision
1.
Beginning 39,546,979.77 16,620,508.48 105,118.24 783,325.87 57,055,932.36
balance
2.
Current
increase
(1)
Accrued
3.
Current 49,804.35 49,804.35
decrease
(1)
Disposed or
scrapped
(2)
Exchange rate 49,804.35 49,804.35
changes
4. Ending
39,546,979.77 16,570,704.13 105,118.24 783,325.87 57,006,128.01
balance
IV. Book
value
1. Ending
24,387,648,327.21 10,974,098,256.37 737,317,048.12 595,149,032.52 36,694,212,664.22
book value
2.
Beginning 23,620,853,439.33 10,640,651,279.99 777,135,861.71 644,686,760.68 35,683,327,341.71
book value
(2) Fixed assets temporarily idle
Unit: yuan
Original book Accumulated Impairment
Item Book value Remarks
value depreciation provision
Houses and
109,537,503.13 49,382,612.86 35,268,406.46 24,886,483.81
buildings
Machinery and
97,081,486.26 78,358,103.13 12,377,702.35 6,345,680.78
equipment
Others 7,422,479.78 6,691,305.11 456,933.91 274,240.76
Total 214,041,469.17 134,432,021.10 48,103,042.72 31,506,405.35
(3) Fixed assets leased under operating lease
Unit: yuan
Item Ending book value
General office buildings and production equipment 167,012,547.57
(4) Fixed assets with title certificate pending
Unit: yuan
320
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Item Book value Why title certificate pending
Filling and completion formalities to be
Self-built houses on self-owned land 1,084,555,291.86
perfected
Self-built houses on leased land 12,478,430,706.85 Title cannot be secured for leased land
Houses with title transfer pending 23,106,381.43
Others 1,368,910.39 Dilapidated houses
Total 13,587,461,290.53
Other remarks
13. Construction in progress
Unit: yuan
Item Ending balance Beginning balance
Construction in progress 20,275,114,273.59 20,157,929,735.51
Total 20,275,114,273.59 20,157,929,735.51
(1) Construction in progress
Unit: yuan
Ending balance Beginning balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Feed mill
reconstruction
1,240,416,090.51 1,240,416,090.51 1,254,851,223.53 1,254,851,223.53
and expansion
project
Food processing
plant
reconstruction 490,908,581.48 490,908,581.48 523,216,327.97 523,216,327.97
and expansion
project
Breeding
company
reconstruction 18,509,177,051.80 18,509,177,051.80 18,348,791,651.12 18,348,791,651.12
and expansion
project
Others 34,612,549.80 34,612,549.80 31,070,532.89 31,070,532.89
Total 20,275,114,273.59 20,275,114,273.59 20,157,929,735.51 20,157,929,735.51
(2) Current changes in key construction projects in progress
Unit: yuan
Amou Where
Percen Accum
nt in: Curren
tage of ulated
transfe current t
Beginn Curren Curren accum amoun Source
rred to Ending Project amoun interes
Project ing t t other ulated t of of
Budget fixed balanc progre t of t
name balanc increas decrea project capital fundin
assets e ss interes capital
e e se input ized g
in the t ization
in interes
current capital rate
budget t
period ized
New 869,47 679,69 55,205 734,89 84.52 84.25 67,933 12,151 3.88% Others
321
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
pig 0,000. 4,290. ,487.9 9,778. % % ,714.2 ,358.3
farms 00 83 3 76 6 0
built
by
Zhang
wu
Xinwa
ng
New
pig
farms
built 780,00 247,49 32,259 40,319 239,43 29,057
35.87 34.63 5,320,
by 0,000. 4,037. ,749.1 ,282.3 4,504. ,673.1 3.80% Others
% % 866.24
Guang' 00 97 9 9 77 4
an
Xinha
o
New
pig
farms
655,00 614,12 16,387 238,11 392,39 38,349
built 96.26 96.81 8,711,
0,000. 8,025. ,313.7 7,246. 8,092. ,860.2 3.99% Others
by % % 267.54
00 14 2 03 83 7
Beijin
g
Xinliu
New
pig
farms
621,65 528,28 17,158 186,65 358,78 20,684
built 87.74 88.12 6,336,
0,000. 2,583. ,314.5 9,580. 1,317. ,495.9 3.94% Others
by % % 567.91
00 14 4 14 54 4
Longh
ai New
Hope
New
pig
farms 500,00 261,84 31,977 293,82 50,839
58.76 50.00 8,529,
built 0,000. 3,593. ,929.7 1,522. ,554.2 3.80% Others
% % 588.60
by 00 17 3 90 4
Laixi
Xinliu
New
pig
farms
built 474,94 188,66 198,06 19,894
9,418, 20,000 41.71 45.50
by 0,000. 1,724. 0,385. ,469.6 Others
661.16 .00 % %
Xiangz 00 02 18 5
hou
Xinha
o
New
pig
farms
463,40 349,80 25,472 370,60 99,897 10,801
built 62,970 4,615, 80.98 80.00
0,000. 7,277. ,749.5 1,358. ,516.5 ,739.8 4.12% Others
by .00 698.69 % %
00 77 3 61 8 6
Wuhe
New
Hope
322
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New
pig
farms 390,10 350,62 33,010 383,63 35,858
98.34 98.00 8,449,
built 0,000. 6,007. ,142.9 6,150. ,174.0 3.80% Others
% % 328.04
by 00 29 0 19 6
Tianjin
Xinliu
New
pig
farms
built 387,00 282,78 32,745 315,53 26,028
81.53 84.00 7,218,
by 0,000. 5,114. ,317.5 0,432. ,717.3 4.41% Others
% % 858.67
Chenz 00 66 6 22 3
hou
Xinha
o
New
pig
farms
366,99 137,45 13,049 150,50 27,572
built 41.01 40.55 4,024,
0,000. 5,628. ,311.0 4,939. ,381.9 3.80% Others
by % % 838.71
00 08 4 12 6
Nanni
ng
Xinliu
5,508, 3,640, 266,68 465,17 3,437, 416,11 71,544
4,615,
Total 550,00 778,28 4,977. 9,078. 668,48 6,557. ,413.8
698.69
0.00 2.07 30 56 2.12 43 7
14. Productive biological assets
(1) Productive biological assets measured at cost
applicable □not applicable
Unit: yuan
Planting Forest Aquatic
Livestock breeding business
Item business ry business Total
Immature Matured
I. Original book value
1. Beginning
3,496,936,948.72 6,981,818,463.31 10,478,755,412.03
balance
2. Current increase 1,984,404,964.84 1,112,517,119.72 3,096,922,084.56
(1) Purchased 119,721,021.78 2,503,341.38 122,224,363.16
(2) In-house cultivation 1,856,682,099.23 1,104,013,876.26 2,960,695,975.49
(3) Molting 5,202,598.02 0.00 5,202,598.02
(4) Exchange rate
2,799,245.81 5,999,902.08 8,799,147.89
changes
3. Current decrease 1,847,894,274.65 3,013,122,378.39 4,861,016,653.04
(1) Disposal 742,813,194.47 2,991,644,870.78 3,734,458,065.25
(2) Others 0.00 0.00 0.00
(3) Exchange rate
1,067,203.92 636,935.47 1,704,139.39
changes
(4) Herd transfer and 1,104,013,876.26 20,840,572.14 1,124,854,448.40
323
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molting
4. Ending balance 3,633,447,638.91 5,081,213,204.64 8,714,660,843.55
II. Accumulated
depreciation
1. Beginning
0.00 2,102,761,152.65 2,102,761,152.65
balance
2. Current increase 0.00 831,302,014.10 831,302,014.10
(1) Accrued 0.00 828,571,981.56 828,571,981.56
(2) Exchange rate
0.00 2,730,032.54 2,730,032.54
changes
3. Current decrease 0.00 1,210,583,943.66 1,210,583,943.66
(1) Disposal 0.00 1,194,778,246.78 1,194,778,246.78
(2) Others 0.00 0.00 0.00
(3) Exchange rate
0.00 167,722.76 167,722.76
changes
(4) Herd transfer and
0.00 15,637,974.12 15,637,974.12
molting
4. Ending balance 0.00 1,723,479,223.09 1,723,479,223.09
III. Impairment provision
1. Beginning
227,156,712.43 572,189,648.88 799,346,361.31
balance
2. Current increase
(1) Accrued
3. Current decrease 227,156,712.43 572,189,648.88 799,346,361.31
(1) Disposal 227,156,712.43 572,189,648.88 799,346,361.31
(2) Others
4. Ending balance
IV. Book value
1. Ending book
3,633,447,638.91 3,357,733,981.55 6,991,181,620.46
value
2. Beginning book
3,269,780,236.29 4,306,867,661.78 7,576,647,898.07
value
(2) Productive biological assets measured at fair value
□applicable not applicable
15. Right-of-use assets
Unit: yuan
Machinery
Houses and Transport
Item and Land Overall lease Others Total
buildings equipment
equipment
I. Original
book value
1.
336,701,577. 23,521,578.3 4,224,063,64 2,609,556,22 7,204,995,40
Beginning 2,368,404.73 8,783,974.06
74 2 7.77 3.59 6.21
balance
324
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
2.
10,750,198.1 130,939,828. 136,940,055. 282,731,975.
Current 1,343,605.32 2,758,287.83
4 33 46 08
increase
(1) New 130,488,046. 123,443,576. 266,700,882.
8,667,366.98 1,343,605.32 2,758,287.83
contracts 50 29 92
(2) Contract 10,251,979.2 12,237,727.8
1,985,748.58
alteration 8 6
(3) Exchange
97,082.58 451,781.83 3,244,499.89 3,793,364.30
rate changes
3.
37,261,575.9 160,092,336. 275,514,760. 472,868,672.
Current
3 43 44 80
decrease
(1) Contract 37,261,575.9 125,327,948. 275,414,802. 438,004,327.
termination 3 57 55 05
(2) Contract 33,361,507.7 33,361,507.7
alteration 2 2
(3) Exchange
1,402,880.14 99,957.89 1,502,838.03
rate changes
(4) Decrease
in
subsidiaries
4.
310,190,199. 24,865,183.6 4,194,911,13 2,470,981,51 7,014,858,70
Ending 5,126,692.56 8,783,974.06
95 4 9.67 8.61 8.49
balance
II.
Accumulated
depreciation
1.
119,597,270. 342,079,158. 637,524,091. 1,109,176,33
Beginning 8,430,681.43 687,666.36 857,466.85
03 56 47 4.70
balance
2.
35,493,927.5 110,004,529. 207,348,772. 355,904,281.
Current 2,382,313.59 451,052.03 223,687.02
4 26 18 62
increase
(1) 35,433,935.3 109,963,801. 206,668,328. 355,123,118.
2,382,313.59 451,052.03 223,687.02
Accrued 6 90 39 29
(2) Exchange
59,992.18 40,727.36 680,443.79 781,163.33
rate changes
3.
21,552,756.6 14,064,897.8 108,025,335. 143,642,990.
Current
9 7 82 38
decrease
(1)
Disposed
(2) Contract 20,553,820.4 10,036,765.1 99,393,170.9 129,983,756.
termination 4 3 8 55
(3) Contract 13,464,560.9
998,936.25 3,933,204.58 8,532,420.09
alteration 2
(4) Exchange
94,928.16 99,744.75 194,672.91
rate changes
(5) Decrease
in
subsidiaries
4.
133,538,440. 10,812,995.0 438,018,789. 736,847,527. 1,321,437,62
Ending 1,138,718.39 1,081,153.87
88 2 95 83 5.94
balance
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III.
Impairment
provision
1.
Beginning
balance
2.
Current
increase
(1)
Accrued
3.
Current
decrease
(1)
Disposed
4.
Ending
balance
IV. Book
value
1.
176,651,759. 14,052,188.6 3,756,892,34 1,734,133,99 5,693,421,08
Ending book 3,987,974.17 7,702,820.19
07 2 9.72 0.78 2.55
value
2.
217,104,307. 15,090,896.8 3,881,984,48 1,972,032,13 6,095,819,07
Beginning 1,680,738.37 7,926,507.21
71 9 9.21 2.12 1.51
book value
Other remarks:
16. Intangible assets
(1) Details of intangible assets
Unit: yuan
Non-patented
Item Land use right Patents Others Total
technology
I. Original book value
1. Beginning
1,908,656,445.71 4,516,777.06 661,124,557.55 2,574,297,780.32
balance
2. Current
72,802,718.27 34,796,167.68 107,598,885.95
increase
(1) Purchased 57,323,565.97 34,781,421.52 92,104,987.49
(2) In-house R&D
(3) Increase due to
business combination
(4) Exchange rate 15,479,152.30 14,746.16 15,493,898.46
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changes
3. Current
11,988,754.95 75,336.51 12,064,091.46
decrease
(1) Disposed 8,090,155.04 69,398.11 8,159,553.15
(2) Exchange rate
3,898,599.91 5,938.40 3,904,538.31
changes
4. Ending balance 1,969,470,409.03 4,516,777.06 695,845,388.72 2,669,832,574.81
II. Accumulated
amortization
1. Beginning
341,105,480.99 2,658,592.41 366,458,637.70 710,222,711.10
balance
2. Current
20,496,349.80 615,649.14 29,783,101.43 50,895,100.37
increase
(1) Accrued 19,540,384.69 615,649.14 29,768,355.24 49,924,389.07
(2) Exchange rate
955,965.11 14,746.19 970,711.30
changes
3. Current
5,495,221.20 43,601.39 5,538,822.59
decrease
(1) Disposed 5,474,784.01 37,821.88 5,512,605.89
(2) Exchange rate
20,437.19 5,779.51 26,216.70
changes
4. Ending balance 356,106,609.59 3,274,241.55 396,198,137.74 755,578,988.88
III. Impairment
provision
1. Beginning
balance
2. Current
increase
(1) Accrued
3. Current
decrease
(1) Disposed
4. Ending balance
IV. Book value
1. Ending book
1,613,363,799.44 1,242,535.51 299,647,250.98 1,914,253,585.93
value
2. Beginning book
1,567,550,964.72 1,858,184.65 294,665,919.85 1,864,075,069.22
value
Percentage of the intangible assets resulting from in-house research and development of the company at the end of this period in
the balance of intangible assets: 0.00%
(2) Land use right with certificate of title pending
Unit: yuan
Item Book value Why title certificate pending
Incomplete paperwork, in the process of
Fuxin Liuhe Farming Co., Ltd. 9,499,759.40
securing permits
Incomplete paperwork, in the process of
Liuhe Feed (Huai'an) Co., Ltd. 3,976,963.84
securing permits
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Incomplete paperwork, in the process of
Wudi Liuhe Xinyang Food Co., Ltd. 2,666,666.66
securing permits
Fuxin Liuhe Farming Co., Ltd. Breeding Incomplete paperwork, in the process of
1,588,762.74
Poultry Branch securing permits
Incomplete paperwork, in the process of
Linshu Liuhe Feed Co., Ltd. 1,592,976.32
securing permits
Incomplete paperwork, in the process of
Yingtan New Hope Feed Co., Ltd. 767,143.96
securing permits
Other remarks
17 Development expenditure
Unit: yuan
Current increase Current decrease
Beginning Internal Included in Ending
Item Recognized as
balance development Others current profit balance
intangible assets
expenditure or loss
Contruction of
management system 17,782,988.08 6,689,106.63 24,472,094.71
platform
Total 17,782,988.08 6,689,106.63 24,472,094.71
Other remarks
18. Goodwill
(1) Original book value of goodwill
Unit: yuan
Current increase Current decrease
Name of invested entities or event Formed due to
Beginning balance Ending balance
forming goodwill business Others Disposal Others
combination
New Hope Liuhe Investment Co., Ltd. 58,567,474.80 58,567,474.80
Beijing Kinghey Food Co., Ltd. 19,091,431.45 19,091,431.45
Chengdu Fenglan Technology Co.,
36,276,456.48 36,276,456.48
Ltd.
Chengdu Century Investment Co.,
398,573,665.34 398,573,665.34
Ltd.
Beijing Porridge Jiahe Enterprise
80,314,997.56 80,314,997.56
Management Co., Ltd.
Hefei Huaren Farming Group Co.,
6,118,302.82 6,118,302.82
Ltd.
Xiantao Liuhe Feed Co., Ltd. 422,276.77 422,276.77
Sheyang Liuhe Feed Co., Ltd. 2,194,351.61 2,194,351.61
Anhui Wanxi White Goose Stock
1,958,093.80 1,958,093.80
Seed Farm Co., Ltd.
Linxi Hexing Feed Co., Ltd. 3,535,449.75 3,535,449.75
Yangling Besun Agricultural Industry
280,514,799.76 280,514,799.76
Group Co., Ltd.
Weinan Zhengneng Farming
19,920,121.97 19,920,121.97
Technology Co., Ltd.
Laiyang Xinmu Breeding Co., Ltd. 251,371,600.00 251,371,600.00
Zhengzhou Quansheng Farming 98,349,399.05 98,349,399.05
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Technology Co., Ltd.
Total 1,257,208,421.16 1,257,208,421.16
(2) Provision for goodwill impairment
Unit: yuan
Name of invested entities or event forming Current increase Current decrease
Beginning balance Ending balance
goodwill Accrued Others Disposal Others
Beijing Kinghey Food Co., Ltd. 10,418,225.09 10,418,225.09
Hefei Huaren Farming Group Co., Ltd. 6,118,302.82 6,118,302.82
Xiantao Liuhe Feed Co., Ltd. 422,276.77 422,276.77
Anhui Wanxi White Goose Stock Seed Farm
1,958,093.80 1,958,093.80
Co., Ltd.
Linxi Hexing Feed Co., Ltd. 3,535,449.75 3,535,449.75
Laiyang Xinmu Breeding Co., Ltd. 24,784,849.84 24,784,849.84
Total 47,237,198.07 47,237,198.07
Information about asset group or asset group portfolio to which goodwill belongs
(1) Method for goodwill impairment test: based on comparison between the present value of future recoverable cash flow of asset
group to which goodwill belongs and the sum of the existing book net asset value of assets group and the value after restoration of
goodwill of minority shareholders.
(2) Accrual of provision for goodwill impairment: the amount of goodwill impairment is determined by the difference between the
estimated present value of recoverable cash flow and the sum of the company’s existing book value and value after restoration of
the goodwill of minority shareholders.
Description of the goodwill impairment test process, key parameters (such as the forecast period growth rate, stable period growth
rate, profit rate, discount rate and forecast period when forecasting the present value of future cash flow, etc.) and the method for
recognition of goodwill impairment loss:
Effects of goodwill impairment test
19. Long-term deferred expenses
Unit: yuan
Current amount
Item Beginning balance Current increase Other decreases Ending balance
amortized
Expenditure on
improvement of 104,890,120.70 6,150,310.79 35,907,542.19 -13,168.25 75,146,057.55
assets
Rental expenses of
factory buildings and 3,283,260.18 530,127.45 1,745,300.71 -12,021.63 2,080,108.55
equipment
Others 78,432,684.62 10,394,970.82 37,379,129.48 -538,351.70 51,986,877.66
Total 186,606,065.50 17,075,409.06 75,031,972.38 -563,541.58 129,213,043.76
Other remarks
20. Deferred income tax assets/ deferred income tax liabilities
(1) Deferred income tax assets not offset
Unit: yuan
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Ending balance Beginning balance
Item Deductible temporary Deferred income Deductible temporary Deferred income
difference tax assets difference tax assets
Asset impairment provision 451,322,736.01 96,546,903.98 378,093,407.50 89,787,821.95
Profits unrealized through internal
141,476,252.01 35,302,554.57 154,866,022.31 38,649,997.19
transactions
Deductible loss 1,778,337,205.47 423,975,723.48 1,794,365,893.39 430,883,487.38
Change in fair value of held-for-
12,283,352.45 1,347,056.58 5,562,819.80 647,806.76
trading financial assets
Guarantee indemnity reserve and
60,301,027.59 15,064,816.28 62,364,969.31 12,803,276.31
deferred income, etc.
Share-based payment 88,439,250.30 19,521,662.84 34,241,417.68 7,588,990.36
Total 2,532,159,823.83 591,758,717.73 2,429,494,529.99 580,361,379.95
(2) Deferred income tax liabilities not offset
Unit: yuan
Ending balance Beginning balance
Item Taxable temporary Deferred income Taxable temporary Deferred income
difference tax liabilities difference tax liabilities
Change in fair value of held-for-
82,055,083.76 5,949,604.63 98,398,047.97 5,097,630.38
trading financial assets
Taxable value of assets lower than
275,550,848.41 68,061,516.84 283,355,228.28 69,994,530.20
book value
Total 357,605,932.17 74,011,121.47 381,753,276.25 75,092,160.58
(3) Deferred income tax assets or liabilities presented by net amount after offset
Unit: yuan
Ending amount Beginning amount
Ending balance of Beginning balance of
mutually offset mutually offset
deferred income tax deferred income tax
Item between deferred between deferred
assets or liabilities after assets or liabilities after
income tax assets and income tax assets and
offset offset
liabilities liabilities
Deferred income tax
568,110.24 591,190,607.49 455,791.52 579,905,588.43
assets
Deferred income tax
568,110.24 73,443,011.23 455,791.52 74,636,369.06
liabilities
(4) Details of unrecognized deferred income tax assets
Unit: yuan
Item Ending balance Beginning balance
Deductible loss 3,799,491,391.17 3,004,055,836.52
Asset impairment provision 187,345,985.40 165,865,926.88
Total 3,986,837,376.57 3,169,921,763.40
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(5) Deductible losses on unrecognized deferred income tax assets will become due in the following years
Unit: yuan
Year Ending amount Beginning amount Remarks
2023 315,215,226.42 365,059,846.61
2024 240,133,135.94 255,234,722.97
2025 250,306,228.64 350,895,690.05
2026 665,715,041.72 704,605,037.45
2027 1,261,909,436.86 1,328,260,539.44
2028 1,381,427,548.01
Total 4,114,706,617.59 3,004,055,836.52
Other remarks
21. Other non-current assets
Unit: yuan
Ending balance Beginning balance
Impair Impair
Item ment ment
Book balance Book value Book balance Book value
provis provis
ion ion
Amounts prepaid for
999,325,000.02 999,325,000.02 555,733,994.29 555,733,994.29
long-term assets
VAT input tax to be
585,976,768.90 585,976,768.90 457,201,424.81 457,201,424.81
deducted
Total 1,585,301,768.92 1,585,301,768.92 1,012,935,419.10 1,012,935,419.10
Other remarks:
22. Short-term borrowings
(1) Short-term borrowings by category
Unit: yuan
Item Ending balance Beginning balance
Pledge loans 10,000,000.00
Mortgage loans 46,309,890.00 54,537,537.02
Guaranteed loans 2,158,393,691.71 2,396,161,293.49
Credit loans 7,418,758,122.71 4,810,943,665.35
Borrowings against bill discounting 6,665,927,406.68 5,448,598,907.56
Borrowings against L/C discounting 415,958,413.88 164,665,814.92
Negotiable credit certificate of accounts
217,376,900.39 63,248,253.17
receivable
Factoring of accounts receivable 1,031,989,301.25 391,716,031.71
Plus: interest payable on borrowings 42,552,504.42 19,521,188.22
Total 17,997,266,231.04 13,359,392,691.44
Remarks on categorization of short-term borrowings:
(1) The mortgage loans and asset mortgages are presented as follows:
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Original book Amount of
Collaterals value of mortgage
collateral loan
Land and house properties of New Hope Turkey Feed and Farming Food Import & Export and
2,560,052.80 2,309,890.00
Industry Ltd.
10,000,000.0
Land and house properties of Wuwei Hope Feed Co., Ltd. 14,517,979.34
0
10,000,000.0
Land and house properties of Wuhan Guoxiong Feed Technology Co., Ltd. 28,492,596.75
0
20,000,000.0
Land and house properties of Laiwu Changlong Industrial Development Co., Ltd. 64,549,853.49
0
Land and house properties of Anhui Baixin Feed Co., Ltd. 1,838,000.00 4,000,000.00
111,958,482.3 46,309,890.0
Total
8 0
(2) The details of guaranteed borrowings are presented as follows:
Names of the guarantor and the guaranteed Ending balance
Guarantee provided by New Hope Liuhe Co., Ltd. For Kunming New Hope Agricultural
40,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Kunming New Hope Animal Nutritious Food
10,000,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Wulong New Hope Liuhe Feed Co., Ltd. 50,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Huanggang New Hope Feed Technology Co.,
10,000,000.00
Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Ningxia New Hope Ruminant Animal
50,000,000.00
Nutritious Food Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Xiangyang New Hope Liuhe Feed Co., Ltd. 10,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Guangzhou Liuhe Feed Co., Ltd. 97,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Laiwu New Hope Liuhe Food Co., Ltd. 10,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Yanggu Liuhe Luxin Food Co., Ltd. 50,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Lipu Xinhao Farming Technology Co., Ltd. 50,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Tianjin Xinliu Farming Technology Co., Ltd. 80,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for New Hope Singapore Pte. Ltd. 982,408,485.92
Guarantee provided by New Hope Liuhe Co., Ltd. for Nanchong New Hope Feed Co., Ltd. 50,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Jiangxi New Hope Farming Technology Co.,
50,000,000.00
Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Nanning New Hope Farming Technology
35,000,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Liaoning Kinghey Food Co., Ltd. 50,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Shandong New Hope Liuhe Group Co., Ltd. 50,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Qingdao Liuhe Feed Co., Ltd. 10,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Hubei Tuanfeng New Hope Feed Co., Ltd. 10,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. For Yuncheng Dingtai Feed Co., Ltd. 10,000,000.00
Guarantee provided by Shandong New Hope Liuhe Group Co., Ltd. for Qingdao Tianrun Food Co.,
2,3600,000.00
Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Sichuan New Hope Animal Nutrition
194,385,205.79
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Guangdong Jiahao Agricultural Products Co.,
30,000,000.00
Ltd.
Guarantee provided by Feidong County SMEs Financing Guarantee Co., Ltd. for Anhui New Hope
35,000,000.00
Feed Co., Ltd.
Guarantee provided by Liu’an Financing Guarantee Co., Ltd. and Liu’an Jin’an Financing
20,000,000.00
Guarantee Co., Ltd. for Anhui Xinhua Animal Husbandry Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Santai New Hope Farming Technology Co.,
21,000,000.00
Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Qiandongnan New Hope Farming
20,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Yishui Liuhe Feed Co., Ltd. 10,000,000.00
Guarantee provided by New Hope Liuhe Co., Ltd. for Fuxin Liuhe Farming Co., Ltd. 100,000,000.00
Total 2,158,393,691.71
332
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(2) Short-term borrowings overdue but not repaid
The short-term borrowings overdue but not repaid at the end of this period totaled 0.00 yuan.
23. Held-for-trading financial liabilities
Unit: yuan
Item Ending balance Beginning balance
Held-for-trading financial liabilities 18,749,771.39 6,025,418.96
Wherein:
Derivative financial liabilities 18,749,771.39 6,025,418.96
Financial liabilities designated as measured at fair value through profit or loss 77,611.81
Wherein:
Financial liabilities designated as measured at fair value through profit or loss 77,611.81
Total 18,749,771.39 6,103,030.77
Other remarks:
The derivative financial liabilities are futures contracts and interest rate swaps purchased.
24. Notes payable
Unit: yuan
Category Ending balance Beginning balance
Commercial acceptance bills 861,222,239.61 367,535,369.20
Bank acceptance bills 2,884,849,694.43 2,365,360,026.62
L/C 786,324,773.24
Total 4,532,396,707.28 2,732,895,395.82
The notes payable overdue and unpaid at the end of this period totaled 0.00 yuan.
25. Accounts payable
(1) Presentation of accounts payable
Unit: yuan
Item Ending balance Beginning balance
Accounts payable 10,310,425,622.25 11,564,714,386.86
Total 10,310,425,622.25 11,564,714,386.86
26. Contract liabilities
Unit: yuan
Item Ending balance Beginning balance
Contract liabilities 2,249,428,800.69 2,173,108,069.79
Total 2,249,428,800.69 2,173,108,069.79
333
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27. Payroll payable
(1) Presentation of payroll payable
Unit: yuan
Item Beginning balance Current increase Current decrease Ending balance
I. Short-term compensation 1,031,469,711.28 4,526,743,351.20 4,426,149,524.32 1,132,063,538.16
II. Post-employment benefits-
8,531,016.63 279,989,732.33 279,248,897.61 9,271,851.35
defined contribution plan
III. Termination benefits 5,665,363.46 2,935,080.64 2,935,080.64 5,665,363.46
Total 1,045,666,091.37 4,809,668,164.17 4,708,333,502.57 1,147,000,752.97
(2) Presentation of short-term compensation
Unit: yuan
Item Beginning balance Current increase Current decrease Ending balance
1. Wage, bonus, allowance and
656,229,314.95 4,075,681,501.38 3,978,538,683.56 753,372,132.77
subsidy
2. Employee benefits 18,236.28 245,761,786.75 245,778,519.80 1,503.23
3. Social insurance costs 1,005,063.65 149,601,084.44 149,366,635.56 1,239,512.53
Wherein: medical insurance
650,521.28 134,971,875.63 134,749,357.63 873,039.28
costs
Industrial injury
328,467.80 12,849,244.81 12,837,313.93 340,398.68
insurance costs
Maternity insurance
26,074.57 1,779,964.00 1,779,964.00 26,074.57
costs
4. Housing provident fund 119,325.70 13,667,317.96 13,662,323.96 124,319.70
5. Trade union outlays and
374,097,770.70 35,329,412.06 32,101,112.83 377,326,069.93
employee education expenditure
6. Short-term paid absence 6,702,248.61 6,702,248.61
Total 1,031,469,711.28 4,526,743,351.20 4,426,149,524.32 1,132,063,538.16
(3) Presentation of defined contribution plan
Unit: yuan
Item Beginning balance Current increase Current decrease Ending balance
1. Basic endowment
7,842,186.99 266,351,926.25 265,629,220.51 8,564,892.73
insurance
2. Unemployment
644,876.77 10,438,033.62 10,410,669.93 672,240.46
insurance costs
3. Comprehensive
43,952.87 3,199,772.46 3,209,007.17 34,718.16
insurance
Total 8,531,016.63 279,989,732.33 279,248,897.61 9,271,851.35
Other remarks
The company participates in endowment insurance and unemployment insurance programs established by the government
according to provisions, whereby the company pays contributions each month according to the rules of social security bureau;
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apart from the aforesaid monthly contributions, the company no longer assumes further payment obligation and the corresponding
expenditures are charged to the current profit or loss or costs of related assets as and when incurred.
There was no amount in arrears in the payroll payable; the wage, bonus, allowance and subsidy are expected to be fully paid
from July to August 2023, and the social insurance contributions will be paid to the social security bureau in July 2023.
28. Taxes payable
Unit: yuan
Item Ending balance Beginning balance
VAT 49,828,843.35 50,193,761.78
Enterprise income tax 183,863,337.58 230,152,774.01
Personal income tax 19,113,954.21 21,050,019.58
Urban maintenance and construction tax 5,741,149.14 6,470,707.51
Educational surcharge 2,514,802.45 2,906,573.94
Local educational surcharge 1,678,827.47 1,939,539.51
Water conservancy fund 691,506.12 725,232.95
Land use tax 14,630,997.56 10,981,538.08
Real estate tax 15,514,084.65 10,784,129.04
Stamp duty 28,307,134.82 27,487,716.22
Others 43,781,168.27 39,972,381.38
Total 365,665,805.62 402,664,374.00
Other remarks
29. Other payables
Unit: yuan
Item Ending balance Beginning balance
Dividends payable 54,676,437.52 50,538,246.74
Other payables 4,648,287,972.39 4,713,876,319.05
Total 4,702,964,409.91 4,764,414,565.79
(1) Dividends payable
Unit: yuan
Item Ending balance Beginning balance
Dividends on ordinary shares 54,676,437.52 50,538,246.74
Total 54,676,437.52 50,538,246.74
Other remarks, the cause of non-payment of significant dividends payable contained that are more than one year overdue is
required to be disclosed:
Reasons for non-payment
Item Ending balance Beginning balance
beyond 1 year
1. Dividends on ordinary shares 54,676,437.52 50,538,246.74
Already declared, but not yet
Incl.: ExceptionalAssetsLimited 7,012,936.65 24,917,905.50
claimed by the other party.
Shandong Rongda Agricultural Development Co., Already declared, but not yet
10,000,000.00 10,000,000.00
Ltd. claimed by the other party.
Chengdu Jinjing Trading Co., Ltd. 10,107,761.51
Shandong Hongjun Food Group Co., Ltd. 2,647,808.19
Yishui County City State-owned Assets Operation 1,185,000.00
335
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Co., Ltd.
Xu Shugen 1,057,234.47
Wuwei Qingquan Agricultural Development Co., Ltd. 258,603.13 258,603.13
Pang Zhen 223,689.92
Li Zhongming 102,378.60
Nie Xinyong 37,865.42
Wuhan Agricultural Group Equity Investment Co.,
7,252,119.96
Ltd.
Bank of Communications Financial Assets
30,152,777.78
Investment Co., Ltd.
2. Dividends on preferred shares/perpetual bonds
classified as equity instruments
Total 54,676,437.52 50,538,246.74
(2) Other payables
1) Other payables presented by nature of amount
Unit: yuan
Item Ending balance Beginning balance
Temporary borrowings 386,319,786.72 557,798,361.68
Various deposits and margins
2,925,303,337.99 2,924,804,853.68
temporarily retained
Managed secured funds 31,701,976.29 17,449,354.44
Accrued expenses 203,241,687.41 200,462,222.09
Payments for share transfer 57,163,567.81 83,536,691.44
Payments for right-of-use assets 344,546,104.26 310,812,803.75
Restricted stock repurchase obligation 652,819,872.50 593,019,107.50
Others 47,191,639.41 25,992,924.47
Total 4,648,287,972.39 4,713,876,319.05
2) Significant other payables aged over 1 year
Unit: yuan
Item Ending balance Why not repaid or carried forward
Not carried forward due to pending
South Hope Industrial Co., Ltd. 104,563,704.00
paperwork for equities and title
Lvliang Elephant Farming Technology
53,146,804.25 Temporary borrowings
Co., Ltd.
Nangong Civil Affairs Bureau 48,735,000.00 Special funding
Price of share transfer payable that does
Luo Xuejun 33,950,697.05 not meet payment conditions and
temporary borrowings
Qingshui Township Government 31,883,076.50 Temporary borrowings
Price of share transfer payable that does
Yantai Hongda Food Co., Ltd. 22,000,000.00
not meet payment conditions
Qingdao Shangyu Down Group Co., Ltd. 20,290,000.00 Temporary borrowings
Dong Baocheng 20,014,777.00 Temporary borrowings
Dai Fei 10,946,870.00 Temporary borrowings
Song Lijun 10,044,700.00 Temporary borrowings
Anhui Xinhua Ducks Co., Ltd. 9,071,000.00 Temporary borrowings
State-owned Assets Supervision and
Administration Commission of Yangling 9,000,000.00 Temporary borrowings
Demonstration Area
Zhejiang Huatong Meat Product Co., 6,066,447.03 Price and margin of equity transfer
336
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Ltd. payable that does not meet the payment
terms
Taiqian County Shunhe Down Products
6,000,000.00 Margin
Co., Ltd.
Total 385,713,075.83
Other remarks
30. Non-current liabilities due in 1 year
Unit: yuan
Item Ending balance Beginning balance
Long-term borrowings due in 1 year 13,012,212,794.48 10,813,975,655.04
Bonds payable due in 1 year 2,072,939,698.00 2,158,110,597.64
Long-term payables due in 1 year 203,045,926.02 120,582,865.56
Lease liabilities due in 1 year 564,033,576.25 566,724,203.16
Total 15,852,231,994.75 13,659,393,321.40
Other remarks:
(1) Long-term borrowings due in 1 year:
Item Ending balance Beginning balance
Pledge loans 312,514,600.00 311,514,600.00
Mortgage loans 28,717,680.00 155,253,240.00
Guaranteed loans 7,093,235,545.55 6,602,573,600.98
Credit loans 5,490,123,682.28 3,668,975,108.77
Plus: interest payable on long-term
87,621,286.65 75,659,105.29
borrowings
Total 13,012,212,794.48 10,813,975,655.04
(2) Bonds payable due in 1 year:
Item Ending balance Beginning balance
Hope Convertible Bonds 9,615,318.13 3,918,404.75
20 Hope Liuhe (pandemic containment
2,056,752,600.84
bond) MTN001
21 Hope Liuhe (rural revitalization)
2,031,267,645.64 81,666,666.70
MTN001
Hope Convertible Bond 2 21,724,563.12 5,437,329.79
21 Sichuan New Hope Liuhe ZR001 2,332,171.11 2,335,595.56
22 Sichuan New Hope Liuhe ZR001 8,000,000.00 8,000,000.00
Total 2,072,939,698.00 2,158,110,597.64
Note 1: long-term borrowings due in one year are detailed in Note VII. 33 “Long-term borrowings”.
Note 2: bonds payable due in one year are detailed in Note VII. 34 “Bonds payable”.
Note 3: lease liabilities due in one year are detailed in Note VII. 35 “Lease liabilities”.
Note 4: long-term payables due in one year are detailed in Note VII. 36 “Long-term payables”.
31. Other current liabilities
Unit: yuan
Item Ending balance Beginning balance
Output tax to be transfered 84,528,612.88 59,634,114.69
337
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Total 84,528,612.88 59,634,114.69
32. Reserve for insurance contract
Item Ending balance Beginning balance
Unearned premium reserve 85,434,590.47 87,803,006.74
Guarantee indemnity reserve 133,759,482.44 91,930,257.15
Total 219,194,072.91 179,733,263.89
33. Long-term borrowings
(1) Long-term borrowings by category
Unit: yuan
Item Ending balance Beginning balance
Pledge loans 879,637,300.00 1,037,394,600.00
Mortgage loans 153,972,528.80 139,996,088.40
Guaranteed loans 12,215,425,472.69 14,325,002,921.88
Credit loans 12,690,561,544.05 12,025,479,779.67
Total 25,939,596,845.54 27,527,873,389.95
Remarks on classification of long-term borrowings:
(1) Pledge loans and pledges are as follows:
Amount of pledge loan
Pledges Long-term Long-term borrowings
borrowings due in 1 year
100% equities in Fucheng Xinhao Farming Co., Ltd. 18,889,600.00 18,888,800.00
100% equities in Gaomi Xinliu Farming Technology Co., Ltd. 139,500,000.00 31,500,000.00
100% equities in Raoyang Xinhao Farming Co., Ltd. 63,777,700.00 63,777,800.00
100% equities in Baiyin New Hope Farming Technology Co., Ltd. 171,000,000.00 26,000,000.00
76.9231% equities in Kangping Xinwang Farming Co. Ltd. 154,000,000.00 20,000,000.00
100% equities in Zhucheng Xinliu Farming Technology Co., Ltd. 137,550,000.00 31,500,000.00
100% equities in Huanghua Xinhao Technology Co., Ltd., 70.7669%
equities in Xiangzhou Xinhao Farming Co., Ltd., and 50% equities in 194,920,000.00 120,848,000.00
Beijing Meihao Meideling Food Co., Ltd.
Total 879,637,300.00 312,514,600.00
(2) The mortgage loans and asset mortgages are presented as follows:
Amount of mortgage loan
Original book value
Collaterals Long-term Long-term borrowings
of collateral
borrowings due in 1 year
Land of Mianyang New Hope Liuhe Farming
7,233,971.60 23,270,000.00 14,580,000.00
Technology Co., Ltd.
Land and house properties of Taizhou New Hope
39,790,674.79 29,000,000.00
Agriculture Co., Ltd.
House properties of Chongqing Guoxiong Feed
14,708,498.45 19,000,000.00
Co., Ltd.
Land and house properties of New Hope Singapore
46,790,522.00 13,702,528.80 2,137,680.00
Biotechnology Ltd.
Land and house properties of Beijing Kinghey
185,463,534.24 69,000,000.00 12,000,000.00
Food Co., Ltd.
Total 293,987,201.08 153,972,528.80 28,717,680.00
(3) The details of guaranteed borrowings are presented as follows:
Names of the guarantor and the guaranteed Ending balance of guaranteed loans
338
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Long-term
Long-term
borrowings due in 1
borrowings
year
Guarantee provided by New Hope Liuhe Co., Ltd. for Taizhou New Hope
20,000,000.00
Agriculture Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Jiangmen Liuhe Feed
79,000,000.00 105,500,000.00
Co., Ltd.
Guarantee provided by Jining Caixin Puhui Financing Guarantee Co., Ltd. for
9,800,000.00
Jiaxiang New Hope Liuhe Food Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Shandong Kinghey
150,473,092.98 25,984,981.49
Food Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Yangling Besun
66,438,906.80 13,000,000.00
Agricultural Industry Group Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Gaotang Xinhao
41,875,854.73 50,471,236.46
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Hebei Xinhao Fucheng
143,460,000.00 40,000,000.00
Agricultural Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Hainan Lingao Xinliu
25,000,000.00 20,000,000.00
Breeding Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Yijun Xinliu
126,500,000.00 14,500,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Ningming Xinhao
240,000,000.00 60,000,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Weinan Xinliu
376,799,658.00 66,400,114.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Fuping Xinliu Farming
58,500,000.00 9,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Suixi Xinhao Farming
20,000,000.00 10,000,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Neiqiu Xinliu Farming
250,017,000.00 19,993,200.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Bijie Xinliu Farming
63,360,000.00 15,840,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Wulian Xinhao Farming
24,249,999.32 25,583,333.96
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Xinji Xinliu Farming
165,000,000.00 55,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Nanning Xinhao
168,000,000.00 42,000,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Ningbo New Hope
56,250,000.00 37,500,000.00
Liuhe Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Liuzhou Xinliu Farming
63,750,000.00 12,750,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Zibo Xinhao Farming
54,330,126.16 6,396,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Hengshui Jizhou
88,800,000.00 22,000,000.00
District Xinhao Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Tongcheng Xinliu
206,220,793.81 55,249,854.00
Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Longhui New Hope
40,500,000.00 8,250,000.00
Liuhe Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Shan County Xinhao
54,125,000.00 38,350,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Rui’an New Hope Liuhe
40,000,000.00 9,000,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Nanjing Xinmu
32,892,858.00 21,928,572.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Zhejiang Yihai
81,040,000.00 35,631,250.00
Agricultural Development Co. Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Dacheng Xinhao
51,200,000.00 8,400,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Zhenjiang New Hope
15,000,000.00 35,000,000.00
Liuhe Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Xiajiang Xinliu 22,500,000.00 15,000,000.00
339
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Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Tianjin Xinliu Farming
150,730,284.10 28,008,804.42
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Tianjin New Hope
95,781,532.81 11,653,951.06
Liuhe Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Lezhi Xinmu Farming
195,750,000.00 33,750,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Pingyuan Xinliu
30,565,994.00 8,733,141.16
Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Meishan Xinmu
175,500,000.00 39,000,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Julu Xinliu Farming
33,750,000.00 16,900,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Guangyuan Xinchi
55,100,000.00 2,900,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Luding Xinyue Farming
31,300,000.00 6,500,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Shaoyang Xinmu
31,760,000.00 4,980,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Shiyan Xinyue Farming
66,550,000.00 24,200,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Xiangshan Huatong
80,000,000.00 40,000,000.00
Livestock Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for New Hope Singapore
144,516,000.00 2,529,030,000.00
Pte. Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Nanchong New Hope
10,000,000.00 35,000,000.00
Feed Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Nanning New Hope
22,863,184.20
Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Hengnan Muyun Eco-
84,000,000.00 21,000,000.00
agriculture Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Ruzhou Quansheng
42,000,000.00 21,000,000.00
Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Ningbo New Hope
47,000,000.00 2,500,000.00
Liuhe Feed Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Wuwei New Hope
16,300,000.00 1,480,000.00
Liuhe Feed Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Hebei Kinghey Meat
198,500,000.00 1,000,000.00
Industry Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Hainan Chengmai New
40,000,000.00 40,000,000.00
Hope Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Guanling Xinmu
90,480,000.00 18,400,000.00
Breeding Co., Ltd.
Guarantee provided by Shandong New Hope Liuhe Group Co., Ltd. for
3,738,253.79
Qingdao New Hope Herun Bio-technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Beijing Kinghey Food
19,627,120.67 17,500,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Wuqi Xinliu
65,000,000.00 15,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Shuozhou Xinhao
280,000,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Rugao Xinhao Farming
50,000,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Hubei Xinhao Farming
442,463,872.08 106,337,957.24
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Jiaxiang New Hope
14,000,000.00
Liuhe Swine Breeding Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Liaocheng Xinhao
24,064,290.85 48,127,581.74
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Laiyang Xinhao
17,000,000.00 110,000,000.00
Livestock Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Tangshan Xinhao
390,600,000.00 119,700,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Donghai Xinhao 60,000,000.00 40,000,000.00
340
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Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Dong’e New Hope
72,000,000.00 40,000,000.00
Liuhe Swine Breeding Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Liaoning Xinwang
512,734,000.00 239,800,900.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Kangping Xinwang
116,662,500.00 68,335,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Guangyuan Xinhao
323,200,000.00 71,000,000.00
Agricultural Development Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Cao County Xinhao
100,002,176.27 89,994,693.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Shenze New Hope
153,970,003.00 33,000,000.00
Liuhe Breeding Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Laixi New Hope Liuhe
772,439,732.45 20,431,613.85
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Anyang Xinliu
120,000,000.00 40,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Gansu New Hope Liuhe
74,996,600.00 30,000,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Chenzhou Xinhao
241,500,000.00 60,375,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Wuhe New Hope Liuhe
626,181,495.59 165,572,559.16
Livestock Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Heishan Xinliu Farming
125,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Puyang Xinliu Farming
53,657,104.52 27,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Raoyang Xinhao
50,000,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Juye Xinhao Farming
125,000,000.00 50,000,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Zhangwu Xinwang
103,000,000.00 10,000,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Xingren Xinliu Farming
78,375,000.00 16,500,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Guigang Xinliu
149,250,000.00 29,850,000.00
Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Taiqian Xinliu Farming
120,000,000.00 40,000,000.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Yingcheng Xinhao
289,050,877.19 56,107,017.54
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd., Guang’an Investment
Group Co., Ltd. And Guang’an Deng Xiaoping Hometown Development Fund 278,028,852.00 35,193,525.57
Management Co., Ltd. for Guang’an Xinhao Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Santai New Hope
100,000,000.00 60,000,000.00
Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Yanting Xinhao
153,673,000.00 150,220,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Ruyuan Yao
42,000,000.00 28,000,000.00
Autonomous County Xinhao Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Hengyang Xinhao
32,504,625.00 22,873,625.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Dongying Xinhao
144,000,000.00 192,000,000.00
Modern Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Liquan New Hope
78,000,000.00 36,000,000.00
Liuhe Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Yantai Xinhao Farming
211,158,837.80 55,305,924.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Jiangxi New Hope
81,375,000.00 54,250,000.00
Liuhe Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Pucheng Xinliu
77,516,275.71 51,677,534.78
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Chengdu Xinjin Xinhao
102,807,500.00 8,450,000.00
Farming Co., Ltd.
341
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Guarantee provided by New Hope Liuhe Co., Ltd. for Hezhou Xinhao Modern
210,000,000.00 52,500,000.00
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Zhaoqing Xinhao
155,919,999.96 30,040,000.02
Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Nanning Xinliu
75,000,000.00 18,750,000.00
Farming Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Longhai New Hope
52,500,000.00 35,000,000.00
Liuhe Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Pizhou New Hope
90,000,000.00 45,000,000.00
Liuhe Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Beijing Xinliu Farming
164,060,928.00 36,005,318.00
Technology Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for New Hope Liuhe (Zibo)
57,517,142.90 4,542,857.10
Agricultural Technology Development Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Sichuan New Hope
258,820,000.00 23,530,000.00
Liuhe Farming Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Zhanjiang Guoxiong
48,000,000.00
Feed Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Laiyang Xinmu
95,000,000.00 31,500,000.00
Breeding Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Yanshi Liuhe Feed Co.,
28,000,000.00
Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Laibin Xinhao Farming
174,000,000.00 58,000,000.00
Co., Ltd.
Guarantee provided by New Hope Liuhe Co., Ltd. for Chongqing New Hope
160,000,000.00
Feed Co., Ltd.
Guarantee provided by Shandong New Hope Liuhe Group Co., Ltd. for
49,500,000.00
Qingdao Tianrun Food Co., Ltd.
Total 12,215,425,472.69 7,093,235,545.55
Other remarks, including on the interest rate range covered:
The range of interest rate on the ending long-term borrowings of the company was 2.15%-6.72%.
34. Bonds payable
(1) Bonds payable
Unit: yuan
Item Ending balance Beginning balance
Hope Convertible Bonds 921,341,669.50 893,720,199.27
20 Hope Liuhe (pandemic containment
2,056,752,600.84
bond) MTN001
21 Hope Liuhe (rural revitalization)
2,031,267,645.64 2,079,235,067.20
MTN001
Hope Convertible Bond 2 6,929,798,426.39 6,734,906,837.15
21 Sichuan New Hope Liuhe ZR001 96,658,417.06 97,404,834.16
22 Sichuan New Hope Liuhe ZR001 388,618,366.12 391,596,549.79
Bonds payable due in 1 year -2,072,939,698.00 -2,158,110,597.64
Total 8,294,744,826.71 10,095,505,490.77
(2) Increase or decrease in bonds payable (excluding preferred shares, perpetual bonds and other
financial instruments classified as financial liabilities)
Unit: yuan
Bond Nomin Issuing Bond Issue Beginn Curren Interes Amorti Curren Conve Minus: Ending
342
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name al date period amoun ing t t zation t rted bonds balanc
value t balanc issuan accrue of repay into payabl e
e ce d at premiu ment shares e due
nomin m and in the in 1
al discou current year
value nt period
Hope
4,000, Jan. 3,986, 893,72 21,930 911,72
Conve 5,696, 5,646. 9,615,
000,00 03, 6 years 000,00 0,199. ,203.5 6,351.
rtible 913.38 73 318.13
0.00 2020 0.00 27 8 37
Bonds
20
Hope
Liuhe
(pande
2,000, Mar. 1,992, 2,056, 11,433 2,068,
mic 414,06
000,00 09, 3 years 800,00 752,60 ,333.2 600,00
contai 5.90
0.00 2020 0.00 0.84 6 0.00
nment
bond)
MTN0
01
21
Hope
Liuhe
2,000, Mar. 1,994, 2,079, 49,000 98,000 2,031,
(rural 3+2 1,032,
000,00 19, 000,00 235,06 ,000.0 ,000.0 267,64
revitali years 578.46
0.00 2021 0.00 7.20 2 4 5.64
zation)
MTN0
01
Hope
8,150, Nov. 8,136, 6,734, 16,287 178,62 21,724 6,908,
Conve 20,892
000,00 2, 6 years 000,00 906,83 ,233.3 5,248. ,563.1 073,86
rtible .46
0.00 2021 0.00 7.15 0 40 2 3.27
Bond 2
21
Sichua
100,00 Nov. 98,560 97,404 94,326
n New 1,977, 257,00 2,980, 2,332,
0,000. 25, 3 years ,000.0 ,834.1 ,245.9
Hope 318.89 7.35 743.34 171.11
00 2021 0 6 5
Liuhe
ZR001
22
Sichua
400,00 Mar. 394,24 391,59 11,963 380,61
n New 7,963, 1,021, 8,000,
0,000. 31, 3 years 0,000. 6,549. ,173.3 8,366.
Hope 173.33 816.33 000.00
00 2022 00 79 3 12
Liuhe
ZR001
16,601 12,253 92,357 203,28 2,181, 2,072, 8,294,
26,539
Total ,600,0 ,616,0 ,972.1 0,920. 543,91 939,69 744,82
.19
00.00 88.41 8 02 6.71 8.00 6.71
(3) Remarks on conditions and time of conversion into shares for convertible corporate bonds
According to the approval of CSRC in the Reply on Approval of Public Issuing of Convertible Corporate Bonds by New Hope
Liuhe Co., Ltd. (CSRC Approval [2019] No. 1902), the company publicly issued 40 million convertible corporate bonds each
having a par value of 100 yuan on January 3, 2020, for a total amount of 4 billion yuan and a bond period of 6 years.
The nominal rate of convertible corporate bonds issued that time was 0.20% for the first year, 0.40% for the second year,
0.80% for the third year, 1.20% for the fourth year, 1.60% for the fifty year and 2.00% for the sixth year, with interest payable per
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year, and convertible from the first trading day (July 9, 2020) after six months of the end of this issue of convertible bonds
(January 9, 2020, T+4 days) to the expiry date of the convertible bonds (January 2, 2026). Holders may apply for conversion into
shares within the conversion period.
The initial conversion price of convertible corporate bonds issued this time is 19.78 yuan/share, which is not lower than the
average trading price of A-share stocks of the company in 20 trading days prior to the date of announcement of the Prospectus (if
share price adjustments occurred due to ex-right and ex-dividend within such 20 trading days, the average trading price of trading
days before adjustment is calculated by the price after corresponding ex-right and ex-dividend adjustments) and the average
trading price of A-share stocks of the company on the immediately preceding trading day.
On April 28, 2020, the company held its annual general meeting of 2019, deliberated and approved 2019 Annual Profit
Distribution Plan, announcing to distribute cash dividend of 1.50 yuan (pretax) per 10 shares to all shareholders based on the total
shares on the record date designated in the profit distribution implementation announcement 2019. This profit distribution plan has
been fully implemented, and the conversion price of the company was adjusted from 19.78 yuan/share to 19.63 yuan/share,
effective as of June 19, 2020.
On September 18, 2020, with the approval of CSRC in the Reply on Approving the Non-public Offering of Shares by New
Hope Liuhe Co., Ltd. (CSRC Approval [2020] No.1961), the company privately placed 177,147,918 ordinary shares (A shares) to
two particular investors by means of private placement of stocks. Those shares already registered in Shenzhen Branch of China
Securities Depository and Clearing Co., Ltd. with respect to newly issued shares and were listed on Shenzhen Stock Exchange on
October 29, 2020, for an issue price of 22.58 yuan/share. The convertible bonds issued that time became convertible on July 9,
2020, and the total share capital of the company after the issuance was increased to 4,504,101,656 shares calculated on the basis of
the total share capital of 4,326,953,738 shares of the company as of September 18, 2020. According to the related terms of the
convertible corporate bonds, the conversion price of “Hope Convertible Bonds” was adjusted from 19.63 yuan/share to 19.75
yuan/share as of October 29, 2020. The adjusted conversion price took effect as of October 29, 2020.
According to the Proposal regarding the ‘Restricted Stock Incentive Plan 2022 (Draft) of New Hope Liuhe Co., Ltd.’ and its
Summary deliberated and approved at the 52nd meeting of the 8th board of directors and the annual general meeting of 2021
respectively held on April 26, 2022 and May 31, 2022, and the Proposal on Adjusting Matters Related to the Restricted Stock
Incentive Plan 2022 and the Proposal on Granting Restricted Stocks to Incentive Beneficiaries for the First Time deliberated and
approved at the 3rd meeting of the 9th board of directors held on July 25, 2022, The company granted 33.2750 million restricted
shares to 199 incentive beneficiaries at the price of 7.98 yuan/share on the first grant date of July 25, 2022. The source of shares is
the company’s RMB A-share common stock issued by the company to the incentive beneficiaries and the relevant shares have
completed the registration procedures of newly issued shares in Shenzhen Branch of China Securities Depository and Clearing Co.,
Ltd. According to the related terms of the convertible corporate bonds, the conversion price of “Hope Convertible Bonds” was
adjusted from 19.75 yuan/share to 19.66 yuan/share as of September 15, 2022.
According to the approval of CSRC in the Reply on Approval of Public Issuing of Convertible Corporate Bonds by New Hope
Liuhe Co., Ltd. (CSRC Approval [2021] No. 1351), the company publicly issued 81.5 million convertible corporate bonds each
having a par value of 100 yuan on November 2, 2021, for a total amount of 8.15 billion yuan and a bond period of 6 years.
The nominal rate of convertible corporate bonds issued that time was 0.20% for the first year, 0.40% for the second year,
0.80% for the third year, 1.20% for the fourth year, 1.60% for the fifty year and 2.00% for the sixth year, with interest payable per
year, and convertible from the first trading day (May 9, 2022) after six months of the end of this issue of convertible bonds
(November 8, 2021, T+4 days) to the expiry date of the convertible bonds (November 1, 2027). Holders may apply for conversion
into shares within the conversion period.
The initial conversion price of convertible corporate bonds issued this time is 14.45 yuan/share, which is not lower than the
average trading price of A-share stocks of the company in 20 trading days prior to the date of announcement of the Prospectus (if
share price adjustments occurred due to ex-right and ex-dividend within such 20 trading days, the average trading price of trading
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days before adjustment is calculated by the price after corresponding ex-right and ex-dividend adjustments) and the average
trading price of A-share stocks of the company on the immediately preceding trading day.
According to the Proposal regarding the ‘Restricted Stock Incentive Plan 2022 (Draft) of New Hope Liuhe Co., Ltd.’ and its
Summary deliberated and approved at the 52nd meeting of the 8th board of directors and the annual general meeting of 2021
respectively held on April 26, 2022 and May 31, 2022, and the Proposal on Adjusting Matters Related to the Restricted Stock
Incentive Plan 2022 and the Proposal on Granting Restricted Stocks to Incentive Beneficiaries for the First Time deliberated and
approved at the 3rd meeting of the 9th board of directors held on July 25, 2022, The company granted 33.2750 million restricted
shares to 199 incentive beneficiaries at the price of 7.98 yuan/share on the first grant date of July 25, 2022. The source of shares is
the company’s RMB A-share common stock issued by the company to the incentive beneficiaries and the relevant shares have
completed the registration procedures of newly issued shares in Shenzhen Branch of China Securities Depository and Clearing Co.,
Ltd. According to the related terms of the convertible corporate bonds, the conversion price of “Hope Convertible Bond 2” was
adjusted from 14.45 yuan/share to 14.40 yuan/share as of September 15, 2022.
(4) Remarks on other financial instruments classified as financial liabilities
Basic information about other financial instruments such as preferred shares and perpetual bonds outstanding at the end of the
period
None
35. Lease liabilities
Unit: yuan
Item Ending balance Beginning balance
Lease payment 7,738,430,844.48 8,165,150,676.41
Unrecognized financing cost -2,727,703,535.09 -2,879,370,916.88
Minus: lease due in 1 year -564,033,576.25 -566,724,203.16
Total 4,446,693,733.14 4,719,055,556.37
Other remarks:
36. Long-term payables
Unit: yuan
Item Ending balance Beginning balance
Long-term payables 336,318,277.30 165,515,620.11
Total 336,318,277.30 165,515,620.11
(1) Presentation of long-term payables by nature
Unit: yuan
Item Ending balance Beginning balance
Sale and leaseback finance leasepayable 567,666,617.65 300,973,827.02
Unrecognized financing cost -28,302,414.33 -14,875,341.35
Minus: long-term payables due in 1 year 203,045,926.02 120,582,865.56
Total 336,318,277.30 165,515,620.11
Other remarks:
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37. Deferred income
Unit: yuan
Reason for
Item Beginning balance Current increase Current decrease Ending balance
formation
Government
433,295,564.49 69,781,432.37 58,062,171.81 445,014,825.05
subsidies
Total 433,295,564.49 69,781,432.37 58,062,171.81 445,014,825.05
Projects involving government subsidies:
Unit: yuan
Amount
Amount Amount
New included in
Beginn included in offsetting
subsidies non- Asset-
Items of ing other costs and Other Ending
added in business related/inco
liabilities balanc income in expenses in changes balance
the current revenue in me-related
e the current the current
period the current
period period
period
Headquarters -
Research of
comprehensive
prevention and
control of main
infectious
diseases of 54,754. Asset-
3,799.98 50,954.63
poultry and 61 related
international
cooperation
platform
construction
project (special
fund)
Headquarters -
Research and
development of
packaged
technology and
equipment for
52,721. Asset-
treatment and 52,721.37
37 related
recycling of
dead livestock
and poultry and
slaughtering
wastes (special
fund)
Headquarters -
Formulation of
a standard
“Feed 50,000. Income-
50,000.00
Ingredient 00 related
Soybean
Protein
Concentrate”
Headquarters - 50,000. Income-
50,000.00
Formulation of 00 related
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a standard
“Feed
Ingredient
Stone Powder”
Headquarters -
Efficient
development
and utilization Income-
140,000.00 140,000.00
of feeding related
resources of
brewing grains
(special fund)
Headquarters -
Evaluation of
new-type corn
and soybean
21,103. Asset-
breeding and 21,103.92
92 related
nutritional
value for
livestock and
poultry
Headquarters -
Regulation and
mechanism
formed by daily
ration
composition
210,40 Asset-
and feeding 210,400.40
0.40 related
system on
healthy and
high-quality
meat of
livestock and
poultry
Headquarters -
Research of AI-
based rapid
identification
and
containment
technology
699,71 Asset-
system for 1,947.51 697,762.49
0.00 related
drug-resistant
bacteria
transmitting
between
humans and
poultry (special
fund)
Headquarters -
“Excellent
Plan” project of 900,00 Income-
900,000.00
Tech City 0.00 related
Talent Program
(special fund)
Headquarters -
3,000,0 3,000,000.0 Asset-
Key project
00.00 0 related
under “Belt and
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Road” and
international
capacity
cooperation
Headquarters -
Autonomous
system of
efficient and
precise cutting 694,00 Income-
694,000.00
of livestock and 0.00 related
poultry meat
products by
robots (direct
funding)
Headquarters -
Knowledge
map
construction
and multimedia
man-machine 330,00 Income-
15,722.47 314,277.53
dialogue of 0.00 related
typical pig
diseases
(2021Zd011380
2-3)(special
fund)
Headquarters -
Formulation of
50,000. Income-
a standard 50,000.00
00 related
“Puffed corn as
feed matrial”
Headquarters -
Analysis and
early warning
and forecast of
typical
264,00 Income-
livestock and 88,704.03 175,295.97
0.00 related
poultry
epidemic
diseases/2021Z
D011380304
(special fund)
Headquarters -
Application
demonstration
of intelligent
veterinary
cloud service
440,00 Income-
for pig disease 26,489.81 413,510.19
0.00 related
diagnosis and
active
prevention and
control/2021ZD
0113805-3
(special fund)
Headquarters -
1,600,0 1,107,090.0 Income-
Key 492,909.98
00.00 2 related
technologies
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and product
creation for
quality and
efficiency
improvement of
non-grain
protein feed
(2021YFD1301
004)(special
fund)
Headquarters -
Research of
nutritional
value of bio-
1,800,0 1,573,392.2 Income-
manufactured 226,607.75
00.00 5 related
protein feed
and efficient
utilization
technology
Headquarters -
Unmanned
disinfection
technology for
scene-aware 260,00 Income-
151,880.80 108,119.20
and intelligent 0.00 related
planning hog
house/2021ZD0
113804-04
(special fund)
Headquarters -
Development of
precise
nutrition and
990,00 Income-
non-grain 390,151.48 599,848.52
0.00 related
nutrition
sources for
Sichuan pig
(special fund)
Headquarters -
Development
and application
of new energy
feed nutrition Income-
165,000.00 1,355.61 163,644.39
database and related
diversified corn
substitution
technology
(special fund)
Share research -
Major 2,081,0 22,500,000. 17,175,000. 6,777,489.8 Income-
628,577.49
agriculture 67.38 00 00 9 related
project 1
Share research -
Major 150,00 Income-
99,592.00 50,408.00
agriculture 0.00 related
project 2
Mianyang New 2,344,3 152,892.00 2,191,433.0 Asset-
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Hope - 25.00 0 related
Industrial
development
fund
Guanghan
45,333. Asset-
Guoxiong - 4,000.02 41,333.14
16 related
Boiler subsidy
Hebei New
83,333. Asset-
Hope - Boiler 8,333.34 74,999.92
26 related
subsidy
Baoji New
Hope - Subsidy 513,15 Asset-
13,157.88 500,000.28
for feed plant 8.16 related
project
Baoji New
Hope - Subsidy
79,828. Asset-
for technical 1,287.54 78,541.00
54 related
renovation of
vertical silos
Baoji New
Hope -
Integration
project
(workshop 29,302. Asset-
14,651.16 14,651.20
electric control 36 related
and automated
computer
batching
system)
Baoji New
Hope - Special
subsidy for 80,000. Asset-
7,999.98 72,000.22
boiler 20 related
demolition and
renovation
Huanggang
4,452,6 4,398,886.0 Asset-
New Hope - 53,714.82
00.89 7 related
Land rebate
Huanggang
New Hope -
285,33 Asset-
Subsidy for 15,999.96 269,333.37
3.33 related
technical
renovation
Huaihua New
Hope -
Construction of 1,417,9 1,397,166.9 Asset-
20,749.98
standardized 16.90 2 related
factory
buildings
Xiangyang
New Hope - 3,061,3 3,026,733.2 Asset-
34,591.20
Preferential 24.40 0 related
policy on land
Jiangmen Liuhe
- Bonus fund 127,11 Income-
127,112.92
for R&D 2.92 related
institution
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construction of
large industrial
enterprises
Jiangmen Liuhe
- 2019 Annual
science and 137,70 Income-
137,700.00
technology 0.00 related
development
support fund
Jiangmen Liuhe
- “Development
and application
of safe and
efficient
bacteria-
enzyme Income-
100,000.00 12,903.24 87,096.76
cooperative related
fermentation
feed
industrializatio
n technology
for ducks”
project subsidy
Jiangmen Liuhe
- Engineering
Income-
technology 123.39 123.39
related
R&D center
project subsidy
Technology
company -
Chengdu
50,000. Income-
industrial 50,000.00
00 related
ecosystem
talent program-
special fund
Xinjin Xinhao -
“Internet of
Things + Smart
Agriculture” 2,000,000.0 1,949,999.9 Asset-
50,000.01
new technology 0 9 related
pig farm project
construction
subsidy
Xinguofu -
781,87 Asset-
Fixed assets 27,241.35 754,628.83
0.18 related
subsidy
Laiwu Liuhe
2,226,855.9 1,698,949.5 Asset-
Food - Land 527,906.40
2 2 related
transfer price
Laiwu Liuhe
58,828. Asset-
Food - Boiler 2,666.64 56,161.72
36 related
subsidy
Yishui
Refrigeration -
851,00 Asset-
Multi-energy 55,500.00 795,500.00
0.00 related
complementary
clean heating
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project subsidy
Yishui
Refrigeration -
Sewage
treatment tank
637,95 Asset-
and sewage 31,248.00 606,704.00
2.00 related
treatment
further
improvement
subsidy
Porridge Jiahe -
2018 Industrial
structure
adjustment
450,00 Asset-
promoting 450,000.00
0.00 related
small and
medium-sized
development
fund project
Porridge Jiahe -
Chinese style
automatic
central kitchen
585,00 Asset-
complete 585,000.00
0.00 related
equipment
R&D and
demonstration
project
Porridge Jiahe -
Beijing gas
(fuel) boiler
164,18 Asset-
low nitrogen 13,682.22 150,504.83
7.05 related
reform
incentive in lieu
of fund subsidy
Porridge Jiahe -
2021 Enterprise
intelligent
1,025,0 Asset-
transformation 153,750.00 871,250.00
00.00 related
and upgrading
project award
fund
Puyang Xinliu -
9,843,200.0 9,679,146.6 Asset-
Government 164,053.32
0 8 related
donated assets
Qingdao Jiazhi
- Special fund
for Qingdao Income-
100,000.00 16,666.68 83,333.32
“Future Star” related
training
program
Qingdao Jiazhi
- 2022 District- Income-
250,000.00 41,666.66 208,333.34
level talent related
policy fund
Qingdao Jiazhi 1,690,000.0 1,690,000.0 Income-
- 2023 0 0 related
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Shandong key
R&D program
(competitive
innovation
platform) fund
Qingdao Jiazhi
- District-level
Income-
excellent expert 100,000.00 16,666.66 83,333.34
related
workstation
talent fund
Qingdao Jiazhi
- Special
450,00 Income-
subsidy for 450,000.00 0.00
0.00 related
new-type R&D
institution
Qingdao Jiazhi
- Special fund
for the
construction of 150,00 Income-
350,000.00 216,666.68 283,333.32
Qingdao 0.00 related
Technology
Innovation
Center
Dezhou Jinshan
- Special
government 491,25 Asset-
117,900.00 373,350.00
subsidy for 0.00 related
refrigeration
equipment
Dezhou Jinshan
- Boiler room 29,760. Asset-
7,440.00 22,320.00
government 00 related
subsidy
Jiaxiang Food -
9,055,1 8,951,633.1 Asset-
Government 103,487.10
20.26 6 related
land subsidy
Jiaxiang Food -
Mordern and
efficient animal 411,66 Asset-
32,500.02 379,166.50
husbandry 6.52 related
development
project subsidy
Jiaxiang Food -
County and
2,431,5 2,398,024.0 Asset-
village 33,540.00
64.00 0 related
revitalization
project award
Linyi
248,67 Asset-
Refrigeration - 32,430.00 216,245.00
5.00 related
Solar subsidy
Shandong
Kinghey -
Agricultural
1,400,0 1,400,000.0 Asset-
cold chain
00.00 0 related
logistics and
warehouse
construction
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project
Bengbu Food -
Land transfer 931,76 Asset-
931,767.00 0.00
taxes support 7.00 related
and rewards
Bengbu Food -
Urban 186,05 Asset-
186,056.00 0.00
infrastructure 6.00 related
support fund
Fenglan
Technology -
Integrated
research and
industrializatio
300,00 Income-
n of key 300,000.00
0.00 related
technologies in
the production
of safe and high
digestibility
piglet feed
Fenglan
Technology -
New
microecologics 399,47 Income-
103,485.56 295,989.39
and biological 4.95 related
feed R&D and
industrializatio
n
Fenglan
Technology -
Transformation
and application
project based
31,942. Income-
on the 6,182.46 25,760.08
54 related
biological
extraction of
Lutein crystals
from marigold
dried flowers
Yangling Besun
- 2014
Agricultural
comprehensive 2,145,0 2,062,500.0 Asset-
82,500.00
development 00.00 0 related
provincial
industrializatio
n project fund
Yangling Besun
- 2014
provincial
3,541,6 3,416,666.9 Asset-
modern 124,999.98
66.90 2 related
agricultural
park special
fund project
Yangling Besun
1,200,0 1,000,000.0 Asset-
- 10,000t/a 199,999.98
00.04 6 related
Refrigeration
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house project
Yangling Besun
- Piglet nursing
technology 30,000. Asset-
4,999.98 25,000.26
industrializatio 24 related
n demonstration
project
Yangling Besun
- Animal
disease control 214,28 Asset-
214,285.70 0.00
center 5.70 related
construction
project
Yangling Besun
- Branded meat
120,00 Asset-
sales network 30,000.00 90,000.00
0.00 related
construction
project
Yangling Besun
- Industry
support fund
for national
2,399,9 1,999,999.9 Asset-
service sector 400,000.02
99.96 4 related
development
guideline fund
demonstration
area
Yangling Besun
- Safe and
pollution-free
1,000,0 1,000,000.0 Asset-
pork deep
00.00 0 related
processing
construction
project
Yangling Besun
- Safe and
pollution-free
2,800,0 2,800,000.0 Asset-
pork deep
00.00 0 related
processing
industrializatio
n project
Yangling Besun
- 20,000t/a
Bagged organic 1,235,0 1,140,000.1 Asset-
94,999.98
fertilizer and 00.14 6 related
10,000t/a liquid
fertilizer project
Yangling Besun
- 5000t/a Safe
and pollution-
free pork deep
processing 2,025,0 1,687,500.0 Asset-
337,500.00
plant 00.00 0 related
reconstruction
and expansion
project in
Yangling
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Demonstration
Area
Yangling Besun
- Standard and
large-scale
1,659,5 1,574,468.0 Asset-
commercial pig 85,106.40
74.43 3 related
fattening base
expansion
project
Yangling Besun
- Whole pig
industry chain
quality
1,210,4 1,085,600.0 Asset-
traceability and 124,800.00
00.00 0 related
epidemic
control and
prevention
system project
Yangling Besun
- Pig farm
wastes
comprehensive 5,998,3 5,748,100.0 Asset-
250,200.00
utilization and 00.00 0 related
clean
production
project
Yangling Besun
- Sick and dead
3,250,0 3,062,500.0 Asset-
pig harmless 187,500.00
00.00 0 related
treatment
system project
Yangling Besun
- Boar station 200,02 Asset-
49,998.00 150,030.00
construction 8.00 related
project
Yangling Besun
- Green pork
deep processing
5,999,9 1,000,000.0 4,999,999.9 Asset-
and meat
99.96 2 4 related
product safety
testing center
project
Besun Food -
Subsidy for
slaughtering
200,00 Asset-
business 100,000.00 100,000.00
0.00 related
standard
transformation
project
Besun Bigong -
Yangling
Demonstration
Area Financial 714,00 Asset-
714,000.00
Bureau high- 0.00 related
efficiency safe
pig feed
production line
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construction
project fund
Bigong Pig
Farm - National
pig industry
technology Income-
430,000.00 35,833.37 394,166.63
system related
Yangling
comprehensive
test station
Yangling Feed
- Technical 927,50 Asset-
52,500.00 875,000.00
transformation 0.00 related
project subsidy
Baoji Jinfeng -
Breeding pig
892,11 Asset-
farm 24,896.28 867,220.42
6.70 related
construction
subsidy
Zhidan
Dingxiang -
Hog industry 13,199, 12,799,999. Asset-
400,000.02
development 999.86 84 related
guidance and
support fund
Tongliang New
Hope - Digital 908,99 Asset-
50,500.02 858,499.94
workshop 9.96 related
subsidy
Hebei Farming
- Kuancheng
standard scale 30,000. Asset-
22,500.00 7,500.00
pig farm 00 related
construction
project
Rugao Xinhao -
Manure
736,62 Asset-
resource 52,689.12 683,933.47
2.59 related
utilization
project subsidy
Rugao Xinhao -
Government
125,96 Asset-
subsidy for 4,972.38 120,994.45
6.83 related
ecocycle pilot
biogas project
Xiajin Farming
-
10,323, 10,089,019. Asset-
Environmental 234,628.26
647.53 27 related
protection
subsidy
Xiajin Farming
- Road 1,200,0 1,150,000.2 Asset-
49,999.98
construction 00.26 8 related
subsidy
Xiajin Farming
53,223. Asset-
- Agricultural 22,810.02 30,413.24
26 related
machinery
357
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
purchase
subsidy
Xiajin Breeding
- Agricultural 31,365. Asset-
16,686.30 14,679.53
machinery 83 related
subsidy
Linshu
Breeding Pig -
114,16 Asset-
Agricultural 4,999.98 109,166.83
6.81 related
machinery
subsidy
Linyi Breeding
Pig -
Fermentation 776,37 Asset-
34,087.02 742,288.77
tank 5.79 related
government
subsidy
Linyi Breeding
Pig - Pig
111,00 Asset-
moving out of 18,499.98 92,500.25
0.23 related
major county
subsidy
Linyi Breeding
Pig - Subsidy Asset-
367,200.00 20,400.00 346,800.00
for breeding related
boars and sows
Linyi Breeding
Pig - Tank-type
20,719. Asset-
tricycle 1,480.02 19,239.86
88 related
government
subsidy
Rongchang Pig
Farm - Boar
900,00 Asset-
station 49,999.98 850,000.42
0.40 related
construction
project
Rongchang Pig
Farm - Pig 10,000. Asset-
4,999.98 5,000.37
resource 35 related
subsidy
Rongchang Pig
Farm -
Heterotopic 220,68 Asset-
6,187.50 214,500.00
fermentation 7.50 related
bed project
subsidy
Rongchang Pig
Farm - Sewage
371,66 Asset-
treatment 17,499.96 354,167.47
7.43 related
construction
project subsidy
Rongchang Pig
Farm - Seed 313,51 Asset-
64,864.86 248,648.66
introduction 3.52 related
subsidy
Junan Breeding 1,147,5 1,107,968.7 Asset-
39,570.00
Pig - 2015 38.79 9 related
358
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Modern
development
fund project
Junan Breeding
Pig - Lingnan
Farm quality
agricultural 130,92 Asset-
12,498.00 118,429.21
product base 7.21 related
brand
government
subsidy
Junan Breeding
Pig - Lingnan 480,00 Asset-
15,000.00 465,000.00
Farm exhibition 0.00 related
hall subsidy
Junan Breeding
Pig - Lingnan
Farm digital
system 475,01 Asset-
49,998.00 425,013.33
management 1.33 related
and breeding
equipment
subsidy
Junan Breeding
Pig - Lingnan
Farm pig 139,24 Asset-
4,380.00 134,866.67
industry healthy 6.67 related
breeding
subsidy
Huanghua
Xinhao -
630,00 Asset-
Industry 45,000.00 585,000.00
0.00 related
development
fund
Huanghua
Xinhao - Pig
3,988,8 3,922,222.1 Asset-
farm 66,666.72
88.88 6 related
construction
subsidy
Liaocheng
Xinhao -
607,28 Asset-
Agricultural 43,377.48 563,907.62
5.10 related
machinery
subsidy
Gaomi
Breeding Pig -
227,86 Asset-
Standard 227,862.91 0.00
2.91 related
breeding
subsidy
Laiyang Xinhao
- Road 290,83 Asset-
4,999.98 285,833.39
construction 3.37 related
subsidy
Tangshan
Xinhao - 1,169,9 1,169,999.9 Asset-
Agricultural 99.94 4 related
project subsidy
359
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Tangshan
Xinhao -
Decontaminatio 2,584,3 2,584,350.0 Asset-
n center 50.03 3 related
government
subsidy
Tangshan
Xinhao -
221,42 Asset-
Agricultural 221,429.97
9.97 related
machinery
subsidy
Tangshan
Xinhao - Pig
1,580,0 1,580,000.0 Asset-
moving out of
00.00 0 related
major county
incentive
Xiangzhou
Xinhao - 2020
Large-scale pig 1,899,3 1,823,787.2 Asset-
75,595.56
farm 82.82 6 related
construction
subsidy
Tangshan
Xinhao - 450,00 Asset-
37,500.00 412,500.00
Fermentation 0.00 related
tank subsidy
Hebei Xinhao -
Dayuezhuang
1,922,3 1,886,567.1 Asset-
pig farm 35,820.90
88.05 5 related
construction
subsidy
Xiao County
Breeding Pig - 22,633. Asset-
22,633.44
Pig introduction 44 related
subsidy
Xiao County
Breeding Pig - 61,666. Asset-
61,666.82
Boar station 82 related
subsidy
Liaoning
Xinwang -
Government
subsidy for
2,000,0 3,000,000.0 2,500,000.0 2,499,999.9 Asset-
livestock and
00.00 0 2 8 related
poultry
standardized
scale farm
project
Yucheng Xinliu
70,000. Asset-
- Hog county 4,666.67 65,333.33
00 related
subsidy
Kangping
Xinwang -
(Grain risk fund 1,127,4 1,070,160.0 Asset-
57,330.00
acount) 90.00 0 related
Agricultural
industry chain
360
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
upgrading fixed
asset
investment
project subsidy
in 2022
Guangyuan
Xinhao - 20
Large-scale pig 460,41 Asset-
12,499.98 447,916.75
farm 6.73 related
construction
subsidy
Changyi
Xinhao -
126,25 Asset-
Agricultural 7,500.00 118,750.00
0.00 related
machinery
subsidy
Baiyin Farming
- Agricultural 45,022. Asset-
8,185.86 36,836.56
machinery 42 related
subsidy
Yijun Xinliu -
4-access and 1-
1,102,5 Asset-
leeling 244,999.98 857,500.10
00.08 related
construction
fund
Luocheng
Xinhao -
Manure 888,88 Asset-
33,333.36 855,555.44
fermentation 8.80 related
tank project
subsidy
Luocheng
Xinhao -
Vehicle
227,00 Asset-
decontaminatio 6,000.00 221,000.00
0.00 related
n center
construction
subsidy
Luocheng
Xinhao -
Quarantine
center and 96,774. Asset-
23,225.82 73,548.36
secondary 18 related
decontaminatio
n center
housing subsidy
Sheyang Liuhe
- Scientific and
technological Income-
20,000.00 20,000.00
innovation related
breakthrough
bonus 2021
Sheyang Liuhe
- Science and
Income-
technology 371,600.00 371,600.00
related
innovation for
development
361
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
bonus 2021
Shenze Xinhao
- Agricultural 12,891. Asset-
850.02 12,041.55
equipment 57 related
subsidy
Laizhou Xinhai
- Application
research and
development
and
98,757. Asset-
demonstration 3,726.72 95,031.04
76 related
construction of
building pig
ventilation
model (special
account...
Laizhou Xinhai
- Cultivated
17,051. Asset-
land 43,800.00 20,701.50 40,150.00
50 related
conservation
subsidy
Laizhou Xinhai
- Agricultural 52,658. Asset-
52,658.31 0.00
machinery 31 related
subsidy
Chenzhou
Xinhao -
Yizhang 12,930. Asset-
12,930.00 0.00
agricultural 00 related
machinery
subsidy
Donghai
190,71 Income-
Xinhao - Loan 35,957.46 154,759.50
6.96 related
interest subsidy
Gansu Xinliu -
190,00 Asset-
Improved pig 190,000.00
0.00 related
breed subsidy
Gansu Xinliu -
Subsidy for
300,000 pigs
410,00 Asset-
breeding and 300,000.00 110,000.00
0.00 related
farming
integration
project
Gansu Xinliu -
Bonus for pig
400,00 Income-
breeding award 300,000.00 100,000.00
0.00 related
and subsidy
project
Zhucheng
Xinliu - 700,00 Asset-
25,002.00 674,998.00
Fermentation 0.00 related
tank subsidy
Wuqi Xinliu -
Income-
Loan interest 938,100.00 263,598.26 674,501.74
related
subsidy
Wuhe Feed - 2,227,4 29,117.28 2,198,353.9 Asset-
362
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Fixed assets 71.20 2 related
subsidy
Juye Xinhao -
Modern
2,220,0 2,543,333.3 Asset-
agricultural 400,000.00 76,666.65
00.00 5 related
industrial park
project fund
Zhangwu
Xinwang -
Government 12,526, 3,305,625.0 9,220,444.4 Asset-
rebate of 069.49 1 8 related
cultivated land
occupancy tax
Liuzhou Xinliu
- Stable pig 1,440,0 1,400,000.7 Asset-
40,000.02
production 00.72 0 related
project subsidy
Tai’an Xinchi -
99,999. Asset-
Pig breeding 99,999.92 0.00
92 related
subsidy
Taian Xinchi -
Asset-
Breeding sows 69,376.00 2,392.28 66,983.72
related
subsidy
Tai’an Xinchi -
Boar 271,35 Asset-
271,350.00
introduction 0.00 related
subsidy
Gansu Xinhao -
Agricultural 93,675. Asset-
47,200.00 8,597.43 132,278.29
machinery 72 related
subsidy
Gansu Xinhao -
172,25 Asset-
Equipment 15,131.11 157,128.53
9.64 related
subsidy
Yingcheng
Xinhao - 2021-
2023 Hubei
20,390. Asset-
agricultural 1,274.40 19,115.60
00 related
machinery
purchase
subsidy
Tangshan
Environmental
Protection -
Manure 2,057,8 2,002,937.5 Asset-
54,874.98
treatment 12.55 7 related
station plant
construction
subsidy
Santai Farming
- Standard pig
83,332. Asset-
farm 83,332.95 0.00
95 related
construction
subsidy
Santai Farming
47,916. Asset-
- Pig farm 12,499.98 35,416.97
95 related
construction
363
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project subsidy
Santai Farming
- Pig moving
62,499. 1,600,000.0 1,593,055.1 Asset-
out of major 69,444.46
65 0 9 related
county project
subsidy
Santai Farming
226,09 Asset-
- Breeding 83,724.33 142,370.25
4.58 related
sows subsidy
Santai Farming
- Project 161,98 Asset-
9,917.34 152,066.19
construction 3.53 related
subsidy
Santai Farming
- Mordern
85,885. Asset-
animal 30,312.48 55,573.28
76 related
husbandry key
project subsidy
Liuhe Feed -
Annual district
intellectual
property funds
Income-
allocated by 280.00 280.00 0.00
related
Laoshan
District Market
Supervision
Administration
Yanting Xinhao
- Municipal
agricultural 1,616,6 1,516,666.5 Asset-
100,000.02
industry 66.59 7 related
development
fund subsidy
Yanting Xinhao
- 2,000m3 124,98 Asset-
10,002.00 114,983.00
Clean-water 5.00 related
tank subsidy
Yanting Xinhao
- Jianhe
Township
12,000
breeding pig 794,82 Asset-
61,002.00 733,818.00
farm manure 0.00 related
treatment and
resource
utilization
project subsidy
Yanting Xinhao
- Large-scale 1,037,5 Asset-
75,000.00 962,500.00
biogas project 00.00 related
subsidy
Yanting Xinhao
4,500,000.0 1,500,000.0 3,000,000.0 Income-
- Loan interest
0 0 0 related
subsidy
Yanting Xinhao
15,000. Income-
- Government 11,250.00 3,750.00
00 related
subsidy for
364
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
2021 major
technology
collaborative
promotion
project
Leshan
Farming - Pig 244,29 Asset-
36,808.92 207,487.26
industry chain 6.18 related
special fund
Leshan
Farming - 231,39 Asset-
92,000.00 126,214.92 197,179.23
Breeding sows 4.15 related
subsidy
Leshan
Farming - 2,740,7 2,690,265.4 Asset-
50,442.48
Jinfeng green 07.96 8 related
cycle subsidy
Ruyuan Xinhao
- Financial
subsidy for
modern
agricultural 2,799,9 2,699,999.9 Asset-
100,000.02
industrial park 99.96 4 related
in pig
advantageous
production
areas
Ruyuan Xinhao
- Manure 3,383,3 3,266,666.7 Asset-
116,666.64
remediation 33.36 2 related
project subsidy
Yingtan Xinliu
- 2020 Fifth
batch of boars
228,66 Asset-
and breeding 100,041.69 128,624.91
6.60 related
sows
introduction
subsidy
Yingtan Xinliu
- 2021 Fine 57,231. Asset-
14,929.98 42,301.73
breed project 71 related
subsidy
Yingtan Xinliu
- Breeding
sows subsidy
319,44 Asset-
granted by 83,333.34 236,111.09
4.43 related
Animal
Husbandry
Bureau
Yingtan Xinliu
550,11 Asset-
- Breeding 157,174.98 392,937.53
2.51 related
sows subsidy
Yingtan Xinliu
- Subsidies for
152,33 Income-
veterinary 152,333.33 0.00
3.33 related
drugs and
vaccines
365
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Yingtan Xinliu
- Return of
295,33 Income-
water and soil 221,500.02 73,833.30
3.32 related
conservation
fees
Yingtan Xinliu
- Manure
collection
pipeline 200,00 Income-
200,000.00 0.00
construction fee 0.00 related
from Animal
Husbandry
Bureau
Yingtan Xinliu
- One-time
112,91 Income-
allowance for 67,750.02 45,166.64
6.66 related
work-stay
training
Yingtan Xinliu
- Cold storage
subsidy from 211,78 Income-
57,760.02 154,026.64
Animal 6.66 related
Husbandry
Bureau
Yingtan Xinliu
- Subsidy for
decontaminatio
59,000. Income-
n of live pig 59,000.00 0.00
00 related
transport
vehicles in
2022
Yingtan Xinliu
- Subsidy for
harmless 361,90 Income-
197,400.00 164,500.00
treatment of 0.00 related
sick and dead
pigs in breeding
Longhui Xinhai
- Government
subsidy for
697,77 Asset-
livestock and 26,666.64 671,111.24
7.88 related
poultry manure
resource
utilization
Tianjin Xinliu -
5,000,0 4,930,747.9 Asset-
Industry cluster 69,252.10
00.00 0 related
project subsidy
Tianjin
Farming - 4,981,2 4,868,597.9 Asset-
112,630.38
Industry cluster 28.28 0 related
subsidy
Lezhi Xinhai -
50,688. Asset-
Pig insurance 50,688.00
00 related
subsidy
Longzhou
17,600. Income-
Xinhao - 17,600.00 0.00
00 related
Employment
366
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
subsidy
Longzhou
Xinhao - Social 83,198. Income-
83,198.06 0.00
insurance 06 related
subsidy
Longzhou
Xinhao - One-
132,40 Income-
time allowance 132,400.00 0.00
0.00 related
for staying at
work
Hengyang
Xinhao - Asset-
95,100.00 2,627.05 92,472.95
Fermentation related
tank subsidy
Hengnan
Muyun -
Livestock and
poultry waste
resource
Asset-
utilization 113,100.00 113,100.00
related
project funds
organic
fertilizer
treatment farm
subsidy
Hezhou Xinhao
- Farm 1,872,1 1,820,580.9 Asset-
51,525.84
construction 06.80 6 related
subsidy
Hezhou Xinhao
968,88 Asset-
- Pig support 26,666.64 942,222.28
8.92 related
subsidy
Zhaoqing
Xinhao -
Government
4,310,5 4,187,368.6 Asset-
subsidy for 123,157.86
26.46 0 related
agricultural
industrial park
fund
Zhaoqing
Xinhao -
Government
5,819,9 5,647,051.7 Asset-
subsidy for a 172,868.94
20.67 3 related
strong
agricultural
town
Zhaoqing
Xinhao -
Government
2,550,8 2,459,745.8 Asset-
subsidy for 91,101.66
47.52 6 related
manure
resource
utilization
Nanning Xinliu
- 2020 Stable 476,66 Asset-
18,333.36 458,333.20
pig production 6.56 related
project subsidy
367
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of the
automonous
region
Guanglv Xinliu
- 10,000 Pig
2,158,3 1,295,024.0 Asset-
farm incentive 863,328.00
52.00 0 related
in lieu of
sbusidy
Guanglv Xinliu
- Hangzhou
560,39 Asset-
phase II seed 305,664.00 254,734.00
8.00 related
introduction
subsidy
Guanglv Xinliu
- Xiaoshan
20,887. Asset-
District 9,640.32 11,247.11
43 related
improved pig
breed subsidy
Guanglv Xinliu
- Xiaoshan 497,77 Asset-
213,333.36 284,444.34
District pig 7.70 related
subsidy
Guanglv Xinliu
- Xiaoshan
District phase I 1,120,7 Asset-
611,334.00 509,442.55
seed 76.55 related
introduction
subsidy
Yancheng
Zhongtai - Pig
4,770,8 4,645,833.3 Asset-
farm 124,999.98
33.37 9 related
construction
subsidy
Jiangyou Pig
Farm - 2021
Jiangyou pig
50,000. Asset-
seed industry 50,000.02 0.00
02 related
modern
agricultural
park project
Jiangyou Pig
Farm -
“5.12”Post 1,044,5 Asset-
57,499.98 987,083.76
disaster 83.74 related
reconstruction
project
Jiangyou Pig
Farm -
Jiangyou Pig
Industrial Park 122,22 Asset-
66,666.66 55,555.59
breeding and 2.25 related
breeding related
technology
research project
Jiangyou Pig
1,198,9 1,171,091.0 Asset-
Farm - Pig 27,906.60
97.61 1 related
industrializatio
368
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
n project
Jiangyou Pig
Farm - 2021
Power city of 991,66 Asset-
49,999.98 941,666.69
seed industry 6.67 related
construction
project
Jiangyou Pig
Farm - 2019
Provincial
Financial
Modern
Agricultural
Development
Project - 458,33 Asset-
250,000.02 208,333.31
Breeding pig 3.33 related
performance
measurement
project
breeding pig
performance
measurement
project subsidy
Jiangyou Pig
Farm - 2021
Sichuan
249,99 Asset-
breeding pig 249,999.98 0.00
9.98 related
performance
measurement
subsidy
Jiangyou Pig
Farm - 2021
central
government 620,00 Asset-
620,000.02 0.00
breeding pig 0.02 related
performance
measurement
subsidy
Beijing Xinliu -
Pig
optimization 46,203, 1,262,402.7 44,940,884. Asset-
industry 287.50 6 74 related
development
project subsidy
Beijing Xinliu -
Machinery 21,738, 5,051,450.0 26,663,713. Asset-
126,286.26
purchase 550.00 0 74 related
subsidy
Changxing
Animal
Husbandry -
Pig production 18,118, 17,480,825. Asset-
637,469.64
increase and 295.09 45 related
supply
guarantee
subsidy
New Hope 252,00 252,000.00 Income-
369
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Farming - 0.00 related
Counterpart
funding from
Xinjin Elite
program
New Hope
Farming -
Chengdu 144,00 Income-
144,000.00
Talented 0.00 related
Drifters
Program
Nanchong New
Hope -
Nanchong 2017
municipal
industrial
development 1,528,6 1,466,145.6 Asset-
62,500.02
fund major 45.71 9 related
industrial
projects and
technological
transformation
project
Nanchong New
Hope -
Technical
reform and
transformation 450,00 Asset-
18,750.00 431,250.00
upgrading 0.00 related
project
9agricultural
product deep
processing)
Nanchong New
Hope -
Technology 352,18 Asset-
13,125.00 339,062.50
achievement 7.50 related
transformtion
project
Luzhou New
Hope -
72,181. Asset-
Environmental 9,415.02 62,766.48
50 related
protection
subsidy
Ziyang Jiahao -
Scientific and
174,09 Income-
technical 174,095.00
5.00 related
training
program
Pengshan New
Hope -
Integrated
research of key 100,00 Income-
100,000.00 0.00
technologies in 0.00 related
the production
of safe and high
digestibility
370
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
piglets
Yulin New
Hope - Pig feed 116,66 Asset-
14,583.36 102,082.93
production line 6.29 related
subsidy
Guilin New
Hope - Guilin
pig feed 33,750. Asset-
13,500.00 20,250.00
production line 00 related
600 production
unit
Zhanjiang
Guoxiong -
Equipment 892,70 Asset-
55,794.30 836,914.25
technical 8.55 related
transformation
project subsidy
Maoming Liuhe
- Technical 915,33 Asset-
27,323.46 888,013.15
transformation 6.61 related
subsidy
Maoming Liuhe
- 30,000t/a
Aquatic
666,57 Asset-
extruded feed 42,547.56 624,031.10
8.66 related
technical
transformation
project award
Jieyang
Guoxiong -
Grain-saving
and
environment-
Asset-
friendly meat 200,000.00 50,000.00 150,000.00
related
and poultry
feed
development
and application
(special fund)
Jieyang
Guoxiong -
58,666. Asset-
Boiler 6,400.02 52,266.47
49 related
improvement
subsidy
Ganzhou Hope
- Government
subsidy for
1,766,6 1,666,666.6 Asset-
special 100,000.02
66.62 0 related
technical
transformation
project
Huaihua
Xiangzhu - 14,400. Asset-
2,400.00 12,000.00
Raw material 00 related
bulk line
Wuhan 215,33 Asset-
19,000.02 196,333.15
Guoxiong - 3.17 related
371
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Natural gas
boiler
government
subsidy
Wuwei Hope -
Natural gas 35,333. Asset-
4,000.02 31,333.09
transformation 11 related
subsidy
Hope Food - A
kind of whole
grain vegetarian 3,333.1 Asset-
3,333.15 0.00
intestine and its 5 related
preparation
method
Hope Food -
The second
batch of
Chengdu
Yuanjiao
County “One
Case One
571,25 Asset-
Meeting”indust 36,231.90 535,023.99
5.89 related
rial economic
development
fund of Xinjin
County
Economic
Development
Bureau
Hope Food -
Yak industry 73,500. Asset-
14,700.00 58,800.00
chain project 00 related
(phase 2)
Hope Food -
Boiler low 30,051. Asset-
30,051.00 0.00
nitrogen 00 related
transformation
Hope Food -
The second
batch of
provincial
science and
technology plan
projects in 2022
- Key
technology 420,00 Asset-
420,000.00
research and 0.00 related
product
application
promotion of
industrializatio
n of quick-
frozen pre-
prepared meat
products
Hope Food - 300,00 Income-
300,000.00
2021 Chengdu 0.00 related
372
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green food
industrial
ecosystem
talent program
Hope Food - A
patent portfolio
100,00 Income-
of meat 100,000.00
0.00 related
processing
methods
Hope Food -
Chengdu
industrial circle
Income-
construction 100,000.00 100,000.00
related
and chain
strengthen
talent plan
Hope Food -
Meat food
safety control
key technology
Income-
and digital cold 175,000.00 175,000.00
related
chain system
research and
application
demonstration
Hope Food -
Key technology
for
industrialized 316,00 Income-
184,000.00 500,000.00
production of 0.00 related
Sichuan-style
convenience
dishes
Wanxi White
Income-
Goose - 360,000.00 360,000.00 0.00
related
Breeding fund
Aba Yak - High
quality forage 10,778. Asset-
7,185.84 3,593.13
demonstration 97 related
base
Aba Yak - Cow
and sheep
healthy
breeding 226,49 Asset-
16,631.76 209,864.64
demonstration 6.40 related
center
supporting
fixed assets
Aba Yak -
Technical
improvement of 108,91 Asset-
4,714.68 104,200.69
cow and sheep 5.37 related
slaughtering
production line
Aba Yak - Yak
300,30 Asset-
industry chain 300,300.00 0.00
0.00 related
technology
373
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research and
integration
demonstration
project
Aba Yak -
Southwest
64,600. Asset-
University for 64,600.00 0.00
00 related
Nationalities
subsidy
Hanzhong
Hope - Boiler
58,499. Asset-
coal-to-gas 9,000.00 49,499.99
99 related
government
subsidy
Lanzhou New
Hope - Boiler
91,666. Asset-
coal-to-gas 10,000.02 81,666.43
45 related
government
subsidy
Lanzhou New
Hope - Work-
38,200. Income-
for-training 38,200.00 0.00
00 related
government
subsidy
Animal
Husbandry
Technology -
Safe and
efficient
1,250,0 1,250,000.0 Asset-
biological feed 0.00
00.00 0 related
technology
system
construction
and integrated
application
Animal
Husbandry
400,00 Asset-
Technology - 400,000.00
0.00 related
Lab renovation
project
Animal
Husbandry
Technology -
200,00 Asset-
New micro- 200,000.00
0.00 related
ecological and
biological feed
R&D project
Animal
Husbandry
Technology -
Livestock and
800,00 Asset-
poultry product 800,000.00
0.00 related
quality and
safety control
laboratory
project
Animal 150,00 150,000.00 Income-
374
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Husbandry 0.00 related
Technology -
Chengdu
Talented
Drifters
Program -
Livestock and
poultry feed
minor elements
emission
reduction
technology
Animal
Husbandry
Technology -
Chengdu
Talented
Drifters 250,00 Asset-
250,000.00
Program - Feed 0.00 related
ingredient
biological
fermentation
pretreatment
technology
Animal
Husbandry
2,400,0 2,400,000.0 Asset-
Technology -
00.00 0 related
Zhuge elite
program
Animal
Husbandry
Technology - 38,000. Asset-
38,000.00
Feed industry 00 related
analysis and
testing platform
Animal
Husbandry
Technology -
High 70,000. Asset-
70,000.00
digestibility 00 related
piglets
production
technology
Animal
Husbandry
Technology -
Chengdu
Talented
Drifters 200,00 Income-
200,000.00
Program - 0.00 related
Livestock and
poultry feed
low-resistance
technology
research
Animal
150,00 Asset-
Husbandry 150,000.00
0.00 related
Technology -
375
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Chengdu
Talented
Drifters
Program -
Establishment
of raw material
effective
nutrients
evaluation and
prediction
system
Animal
Husbandry
Technology -
Special funds
120,00 Income-
for the 120,000.00
0.00 related
operation of
key laboratories
in Sichuan
Province
Animal
Husbandry
Technology -
Sichuan
Province
300,00 Income-
Efficient and 300,000.00
0.00 related
Safe New Feed
Technical
Service
Platform -
Special
Century
Investment -
Chengdu High-
tech Zone
Economic
Development 481,66 Asset-
85,000.02 396,666.40
Bureau 6.42 related
technology
transformation
subsidy
obtained in
December 2015
Century
Investment -
Sichuan pig
industry chain
quality and
efficiency Income-
350,000.00 154,417.20 195,582.80
improvment related
technology
research and
integration
demonstration
(special fund)
Jingzhou New
567,75 Asset-
Hope - Land 7,292.94 560,466.86
9.80 related
subsidy
376
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Jingzhou New
76,940. Asset-
Hope - Bridge 1,010.10 75,930.23
33 related
subsidy
Hongyuan Yak
- Sewage
treatment
system upgrade 458,70 Asset-
458,700.00
project subsidy 0.00 related
of Hongyuan
County Finance
Bureau
Xiaoyi Food -
60,000t/a
Chicken cutting
production line 2,320,0 2,084,068.6 Asset-
235,932.31
expansion and 01.00 9 related
base
construction
project
Xiaoyi Food -
Base 766,66 Asset-
12,672.16 753,993.56
construction 5.72 related
project
Xiaoyi Food -
1,899,9 1,844,117.6 Asset-
Testing lab 55,882.35
99.98 3 related
project
Zhongyang
Farming - 1,600,5 2,970,000.0 4,422,000.0 Asset-
148,500.00
Henhouse 00.00 0 0 related
subsidy
Zhongshan
Farming - 76,644. Asset-
31,487.34 45,157.34
Improved pig 68 related
breed subsidy
Laiyang Xinmu
- Agricultural 9,547.2 Asset-
485.46 9,061.81
machinery 7 related
subsidy
Zhengzhou
Quansheng -
1,850,0 1,720,833.3 Asset-
Pig farm 129,166.66
00.04 8 related
government
subsidy
Beijing
Kinghey - Cold 3,522,2 3,448,636.7 Asset-
73,636.32
chain logistics 73.07 5 related
project subsidy
Beijing
Kinghey -
Energy-saving 141,38 Asset-
65,255.28 76,130.77
technological 6.05 related
transformation
project award
Liaoning
Kinghey - 655,29 Asset-
357,435.72 297,863.04
Fixed assets 8.76 related
investment
377
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subsidy project
Hebei Kinghey
- Boiler
transformation
subsidy of air 33,750. Asset-
11,250.00 22,500.00
pollution 00 related
prevention and
control special
fund
Hebei Kinghey
- Sewage 450,00 Asset-
24,999.96 425,000.04
treatment 0.00 related
project subsidy
Huzhou
Haihuang - 249,24 Income-
96,480.00 152,760.00
Construction 0.00 related
reward
Shibing New
Hope - Feed
processing
10,000, 9,333,333.2 Asset-
project 666,666.72
000.00 8 related
infrastructure
construction
subsidy
Liuhe Group -
Standardization Income-
120,000.00 120,000.00
work project related
(special fund)
Liuhe Group -
Study of green
tea extract on
intestinal
oxidative stress Income-
50,000.00 50,000.00
and related
microorganisms
of commercial
pigs (special
fund)
Liuhe Group -
Qingdao Key
Laboratory of Income-
500,000.00 500,000.00
Animal Feed related
Safety (special
fund)
Liuhe Group -
Construction of
modern
agricultural
Income-
industrial 430,000.00 430,000.00
related
technology
system
waterfowl
(special fund)
Liuhe Group -
Screening of 100,00 Income-
39,459.50 60,540.50
marine drug 0.00 related
sources and
378
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development of
new drugs for
non-antibiotic
treatment of
multi-drug
resistance in
poultry and
livestock
(special fund)
Liuhe Group -
3,000t/a Marine
agricultural
biological
products key
18,847. Asset-
technology 18,847.96
96 related
integration and
industrial
demonstration
project (special
fund)
Liuhe Group -
Technology
center
288,02 Asset-
innovation 34,368.00 253,654.64
2.64 related
capacity
building project
(special fund)
Liuhe Group -
“China-EU
Inter-
Governmental
Cooperation 320,72 Income-
146,953.72 173,773.79
Program” - 7.51 related
European union
horizon SFS-
46-2017
(special fund)
Liuhe Group -
Postdoctoral
4,550.0 Income-
research 50,000.00 25,000.00 29,550.00
0 related
workstation
special fund
Liuhe Group -
Study on
microbial
degradation 21,654. Income-
21,654.00
technology of 00 related
mycotoxins in
prawn feed
ingredients
Liuhe Group -
Research on the
molecular
mechanism of 80,000. Income-
80,000.00
plant 00 related
polyphenols
against
oxidative stress
379
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in broilers
(special fund)
Liuhe Group -
Taishan
industry leading
talents - Key
technologies for
breeding of
important 1,647,1 1,587,275.9 Income-
59,912.37
economic 88.36 9 related
characters in
meat ducks and
cultivation and
popularization
of new lines
(special fund)
Liuhe Group -
Degradation of
mycotoxins in
prawn feed 7,543.8 Income-
7,543.84
ingredients by 4 related
fermentation
technology
(special fund)
Liuhe Group -
Livestock and
poultry
environmental
Income-
and healthy 613.45 200,000.00 200,613.45
related
breeding model
and product
R&D (special
fund)
Liuhe Group -
Breeding pig
farm FMD
4,460.4 Income-
purification 4,460.44
4 related
demonstration
and promotion
(special fund)
Liuhe Group -
Technology for
Economy 2020
- FMD
prevention and 92,437. Income-
8,522.22 83,915.24
purification 46 related
technology
promotion and
application
(special fund)
Liuhe Group -
Research of
formulation
technology of 1,459,2 1,459,276.5 Income-
environment- 76.53 3 related
friendly and
antibiotic-free
feed for meat
380
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and poultry
(special fund)
Liuhe Group -
Meat duck
healthy,
efficient and
environmental 203,12 Income-
203,120.64
breeding key 0.64 related
technology
research and
demonstration
(special fund)
Liuhe Group -
Swine fever
and
pseudorabies
immunization 7,718.8 Income-
7,718.86
program 6 related
research on
large-scale pig
farms (special
fund)
Liuhe Group -
Determination
of acid-soluble 3,229.4 Income-
3,229.49
protein in feed 9 related
ingredients
(special fund)
Liuhe Group -
Rapid detection
method of urea-
Income-
formaldehyde 134.25 134.25
related
polymer in fish
meal (special
fund)
Liuhe Group -
Chicken and
pig intestinal
health
regulation and
antibiotic 8,490.5 Income-
8,490.57
replacement 7 related
technology
patent
navigation
project (special
fund)
Liuhe Group -
Chicken
antibiotic-free
low excretion
198,58 Income-
feed key 99,923.59 98,662.94
6.53 related
technology
research and
industrializatio
n (special fund)
Liuhe Group - 193,61 3,085.44 190,525.56 Income-
381
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Shandong 1.00 related
Overseas
Engineer Talent
Program
Project -
Research and
promotion of
key
technologies of
soybean meal
reduction and
replacement
(special fund)
Liuhe Group -
Sino-european
food safety
process control
271,65 Income-
system based 356.60 271,297.26
3.86 related
on digital
information
technology
(special fund)
Liuhe Group -
New duck
breeds
3,711,2 3,578,752.3 Income-
cultivation and 132,483.86
36.24 8 related
industrializatio
n demonstration
(special fund)
Liuhe Group -
Digital
integrated
management
2,000,0 1,900,943.4 Income-
capacity 99,056.60
00.00 0 related
building project
of New Hope
Liuhe (special
fund)
Liuhe Group -
High
reproductive
rate white
feather meat 400,88 Income-
400,885.41 0.00
duck breeding 5.41 related
technology
R&D and
application
(special fund)
Jinan New
5,225,6 5,155,332.9 Asset-
Hope - Land 70,300.02
32.93 1 related
transfer price
Daqing Liuhe - 3,503,7 3,303,700.0 Asset-
199,999.99
Support fund 00.00 1 related
Taihe New
Hope - 755,08 Asset-
47,184.00 707,900.00
Government 4.00 related
land rebate
382
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Shan County
Food -
Government 7,790,0 7,695,000.3 Asset-
94,999.98
supported 00.34 6 related
infrastructure
fund
Anyang Liuhe - 1,502,6 1,480,539.5 Asset-
22,097.64
Land rebate 37.18 4 related
Tuanfeng New
Hope - 74,945. Asset-
23,666.64 51,278.52
Government 16 related
land subsidy
Pingxiang New
3,185,5 2,958,041.7 Asset-
Hope - Land 227,541.66
83.42 6 related
use right
Fuyang Liuhe -
3,343,6 3,301,593.2 Asset-
Land leveling 42,104.46
97.67 1 related
subsidy
Shanghe Feed - 111,11 Asset-
16,666.68 94,444.30
Boiler subsidy 0.98 related
Zoucheng
2,556,3 2,524,647.9 Asset-
Liuhe Feed - 31,690.14
38.04 0 related
Land rebate
Zhengzhou
Hongyuan Feed
- Fermentation 76,389. Asset-
13,888.86 62,500.39
equipment 25 related
research fund
subsidy
Henan
Dengzhou 2,451,6 2,417,713.9 Asset-
33,893.34
Branch - Land 07.26 2 related
rebate
Henan
Dengzhou 33,391. Asset-
4,173.90 29,217.55
Branch - Boiler 45 related
subsidy
Yanshi Liuhe -
Investment 1,919,9 1,893,600.4 Asset-
26,299.98
introduction 00.43 5 related
subsidy
Tongcheng
Xinhao -
Manure 7,128,170.4 6,890,564.8 Asset-
237,605.64
resource 5 1 related
utilization
project subsidy
Wannian
Xinhai - Cold
Asset-
storage 60,000.00 2,479.35 57,520.65
related
construction
project subsidy
Tongling New
Hope -
1,925,8 1,852,203.7 Asset-
Infrastructure 73,597.50
01.21 1 related
construction
subsidy
383
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Pingdu Liuhe -
1,977,9 1,951,406.2 Asset-
Government 26,549.76
55.96 0 related
land subsidy
Gaomi
Breeding Duck
2,018,7 1,941,076.4 Asset-
- Agricultural 77,643.06
19.49 3 related
machinery
subsidy
Fuxin Farming 5,128,7 5,069,982.3 Asset-
58,725.66
- Land rebate 07.99 3 related
Guantao Feed -
Gas boiler low
44,464. Asset-
nitrogen 3,214.26 41,250.15
41 related
renovation
subsidy
Fuxin Hehui -
Fumeng County
livestock and
poultry scale 2,048,6 2,006,944.7 Asset-
41,666.64
farm standard 11.37 3 related
ecological
construction
project 2015
Laoting
Xinmeizi - 8,680,0 8,260,000.0 Asset-
420,000.00
Land subsidy 00.00 0 related
(new)
Laoting
Xinmeizi
Breeding -
68,191. Asset-
Beautiful 4,813.56 63,378.42
98 related
countryside
construction
fund
Laibin Xinhao -
Large-scale pig
437,49 Asset-
farm 12,499.98 424,998.16
8.14 related
construction
subsidy
Laibin Xinhao -
Manure
resource 2,171,7 2,110,322.0 Asset-
61,425.00
utilization 47.05 5 related
construction
project subsidy
Laibin Xinhao -
Livestock and
poultry manure 2,646,0 2,597,001.0 Asset-
49,000.02
resource 01.08 6 related
utilization
project subsidy
Laibin Xinhao -
Chenliu stable
378,33 Asset-
pig production 10,000.02 368,333.27
3.29 related
construction
project
Laoting 2,995,8 37,215.36 2,958,621.3 Asset-
384
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Shengxiang - 36.70 4 related
Land
compensation
Weifang New
Hope - Land 4,976,1 4,914,939.5 Asset-
61,181.82
purchase 21.36 4 related
compensation
Weifang New
Hope - Two
6,000.0 Income-
new party 6,000.00
0 related
organization
work funds
Weifang New
Hope - Road 80,000. Income-
80,000.00
construction 00 related
compensation
Weifang New
Hope -
Research and
integration of
key
200,00 Income-
technologies for 200,000.00
0.00 related
high-value
utilization of
unconventional
protein
ingredients
Weifang New
Hope - Key
technology
research and
industrializatio 20,000. Income-
20,000.00
n of efficient 00 related
and
environmental
friendly layer
feed
Weifang New
476,83 Income-
Hope - Yuandu 100,000.00 330,886.97 245,944.31
1.28 related
talent project
Zunhua Feed - 48,000. Asset-
7,999.98 40,000.30
Boiler subsidy 28 related
Weifang
Heshengyuan -
2018 Fixed 1,163,7 1,070,649.8 Asset-
93,100.02
assets technical 49.85 3 related
transformation
subsidy
Weifang
Heshengyuan -
2020 Fixed 271,51 Asset-
16,794.72 254,719.36
assets technical 4.08 related
transformation
subsidy
Weifang
2,550,6 2,521,256.9 Asset-
Heshengyuan - 29,382.72
39.65 3 related
Land transfer
385
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price rebate
Weifang
Heshengyuan -
2017 Fixed 243,43 Asset-
21,799.98 221,633.50
assets technical 3.48 related
transformation
subsidy
Weifang
Heshengyuan -
Imported 436,35 Asset-
40,279.14 396,078.26
cooked food 7.40 related
equipment tax
rebate
Weifang
Heshengyuan -
Research and
industrializatio
n of new key
48,000. Income-
technologies for 24,000.00 24,000.00
00 related
bacteria
reduction and
color protection
of chilled
chicken food
Linyi Yihe -
Government 125,84 Income-
125,848.70
risk 8.70 related
compensation
Weifang Liuhe
- Research and
industrializatio
n promotion of
key
58,460. Income-
technologies of 58,460.00 0.00
00 related
environment-
friendly
antibiotic-free
feed for pig and
poultry
Laiyang Liuhe
Yantai Double
Hundred Talent
Project
(research and
development,
Income-
demonstration 200,000.00 80,000.00 120,000.00
related
and promotion
of efficient
ecological feed
formula
technology for
broilers)
Fuxin Hehui -
975,00 Income-
Relocation 975,000.00 0.00
0.00 related
compensation
Lijin Breeding 10,000. Income-
10,000.00 0.00
Ducks - 00 related
386
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Subsidy for
standard
revision fee
Wuhan Liuhe -
62,500. Asset-
New shed 62,500.00
00 related
subsidy
Sichuan Trade -
Sichuan pig
refined
intelligent
breeding and 289,84 Asset-
41,406.24 248,437.52
environmental 3.76 related
precise control
special fund
2021ZDZX001
1 (special fund)
433,29
69,781,432. 39,087,616. 18,974,555. 445,014,82
Total 5,564.4
37 09 72 5.05
9
Other remarks:
Among deferred income this year, “Other decrease” of 17.1750 million yuan of “Share research-Major agriculture project 1”
involves the major agricultural project the company undertook on June 1, 2022 as the project lead, which has a total of 5 subjects
completed by university and enterprise. The new project funding in the first half of this year was 22.5000 million yuan. In
accordance with the provisions of Several Opinions on Reforming and Improving the Management of Scientific Research Funds of
the Central Government G.B.F (2021) No. 32, the project lead unit shall timely allocate funds to the project participating units,
and this year, the company allocated 17.1750 million yuan to the participating units according to the project charter. “Other
changes” in other deferred income are mainly the impact of loan discount interest write-off of current finance charges.
38. Share capital
Unit: yuan
Current increase or decrease (+, -)
Beginning Provident Ending
balance New shares fund balance
Bonus shares Others Subtotal
issued converted
into shares
4,538,758,09 4,538,321,15
Total shares -436,937.00 -436,937.00
5.00 8.00
Other remarks:
Notes:
(1) In accordance with the relevant provisions of the Restricted Stock and Stock Option Incentive Plan 2019 (Draft) and
Assessment Management Measures of Restricted Stock and Stock Option Incentive Plan 2019, given that the net profit of the
company in 2022 was negative, not meeting the performance assessment requirements set in the fourth lifting period under the
Restricted Stock and Stock Option Incentive Plan 2019 (hereinafter referred to as the “Incentive Plan 2019”), the company decided
to repurchase and cancel a total of 438,750 restricted shares held by 15 incentive beneficiaries under the Incentive Plan 2019 that
have not been released for sale.
387
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
(2) According to the resolutions of the second extraordinary general meeting of the company in 2020 and approval of CSRC in the
Reply on Approval of Public Issuing of Convertible Corporate Bonds by New Hope Liuhe Co., Ltd. (CSRC Approval [2021] No.
1351), the company publicly issued 81.50 million convertible corporate bonds on November 2, 2021, each having a par value of
100 yuan for a total amount of 8.15 billion yuan, which are convertible from May 9, 2022 to November 1, 2027. The conversion of
convertible corporate bonds increased the share capital by 1,813 shares during the period.
39. Other equity instruments
(1) Basic information about other financial instruments such as preferred shares and perpetual bonds outstanding at the
end of the period
1) Convertible corporate bonds
Convertible Bond 1:
As approved by CSRC in the document “CSRC Approval [2019] No. 1902”, the company publicly issued 40 million convertible
corporate bonds with par value of 100 yuan each on January 3, 2020, for a total issue amount of 4 billion yuan. With the consent
from SZSE in the document “S.Z.S. [2020] No. 60”, the company’s 4 billion yuan convertible corporate bonds were listed for
trading on SZSE as of February 4, 2020, under the bond abbreviation “Hope Convertible Bonds” and bond code “127015”.
Duration of the convertible bonds is from January 3, 2020 to January 2, 2026, convertible from July 9, 2020 to January 2, 2026.
Convertible Bond 2:
As approved by CSRC in the document “CSRC Approval [2021] No. 1351”, the company publicly issued 81.50 million
convertible corporate bonds with par value of 100 yuan each on November 2, 2021, for a total issue amount of 8.15 billion yuan.
With the consent from SZSE, the company’s 8.15 billion yuan convertible corporate bonds were listed for trading on SZSE as of
November 29, 2021, under the bond abbreviation “Hope Convertible Bond 2” and bond code “127049”. Duration of the
convertible bonds is from November 2, 2021 to November 1, 2027, convertible from May 9, 2022 to November 1, 2027.
2) Perpetual bonds
Perpetual Bond 1: on January 27, 2022, Zhongyuan Trust Co., Ltd. (the lender) issued a perpetual debt investment of 200 million
yuan to the company (the borrower) for an initial investment period of 1 year, agreeing that the term of borrowing commences
from the date when this perpetual debt investment is actually transferred into the borrower-designated account, which date is the
value date. Each year after the expiration of the initial investment period is an extended loan period, and the borrower, in one
month before the expiration of each loan period, has the option to extend the investment period by one year or to repay to the
lender the balance of all trust loan principal and all interests and fruits upon the expiration of each investment period. The loan
interest rate within the initial investment period is 6.3% and after the expiration of the initial investment period, the annual interest
rate will be increased once a year by 200 base points (2.00%), and by analogy, subject to the maximum loan interest rate of 9.0%.
This perpetual bond has been redeemed in the current period.
Perpetual Bond 2: on December 20, 2022, Bohai International Trust Co., Ltd. (the lender) issued a renewable loan of 800 million
yuan to the company (the borrower) for an initial loan period of 2 years, agreeing that the loan period commences from the date
when this renewable trust loan is actually transferred into the borrower-designated account, which date is the value date. Each year
after the expiration of the initial loan period is an extended loan period, and the borrower, one month before the expiration of each
loan period, has the option to extend the loan period by one year or to repay to the lender the balance of all trust loan principal and
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all interests and derivative yields upon the expiration of each loan period. The loan interest rate within the initial loan period is
6.3% and after the expiration of the initial loan period, the annual interest rate will be increased once a year by 300 base points
(3.00%), and by analogy, subject to the maximum loan interest rate of 10.5%.
Perpetual Bond 3: on December 29, 2022, Lujiazui International Trust Co., Ltd. (the lender) issued a renewable loan of 200
million yuan to the company (the borrower), for an initial loan period of 12 months and an indefinite loan period, agreeing that the
loan period commences from the date when this perpetual loan is actually transferred into the borrower-designated account, which
date is the value date. Each 12 months after the expiration of the initial loan period is an extended loan period, and the borrower,
on the corresponding date of 12 months after expiration of each loan period and any day thereafter, has the right to redeem the
entire loan proceeds of the tranche from the lender at the balance of such loan principal (balance of investment
principal=investment principal –investment principal redeemed by the borrower (if any)) plus interest payable (including current
interest and all interest and penalty interest subject to deferred payment) and any and all other amounts payable but not yet paid.
The loan interest rate comprises initial interest rate and reset interest rate, the former of which is 6%, and the interest rate is reset
on the expiry date of each loan period, with the reset investment interest rate calculated at the higher of the following two: ①
investment interest rate =initial loan interest rate + [300bp]; ② investment interest rate = base rate at the interest rate resetting date
+ initial interest spread +[300bp] (initial interest spread =initial investment interest rate – base rate at the value date), and the
investment interest rate is limited to a maximum of 9.5%.
Perpetual Bond 4: on June 29, 2023, Lujiazui International Trust Co., Ltd. (the lender) issued a renewable loan of 230 million
yuan to the company (the borrower), for an initial loan period of 12 months and an indefinite loan period, agreeing that the loan
period commences from the date when this perpetual loan is actually transferred into the borrower-designated account, which date
is the value date. Each 12 months after the expiration of the initial loan period is an extended loan period, and the borrower, on the
corresponding date of 12 months after expiration of each loan period and any day thereafter, has the right to redeem the entire loan
proceeds of the tranche from the lender at the balance of such loan principal (balance of investment principal=investment principal
–investment principal redeemed by the borrower (if any)) plus interest payable (including current interest and all interest and
penalty interest subject to deferred payment) and any and all other amounts payable but not yet paid. The loan interest rate
comprises initial interest rate and reset interest rate, the former of which is 6%, and the interest rate is reset on the expiry date of
each loan period, with the reset investment interest rate calculated at the higher of the following two: ① investment interest rate
=initial loan interest rate + [300bp]; ② investment interest rate = base rate at the interest rate resetting date + initial interest spread
+[300bp] (initial interest spread =initial investment interest rate - base rate at the value date), and the investment interest rate is
limited to a maximum of 9.5%.
(2) Table of changes in financial instruments such as preferred shares and perpetual bonds outstanding at the end of the
period
Unit: yuan
Outstandin Beginning Current increase Current decrease Ending
g financial
instruments Amount Book value Amount Book value Amount Book value Amount Book value
Hope
9,494,876.0 191,753,33 191,751,92
Convertible 70 1,401.76 9,494,806
0 0.59 8.83
Bonds
Hope
81,436,334. 1,798,155,7 1,798,149,9
Convertible 263 5,785.83 81,436,071
00 85.24 99.41
Bond 2
Perpetual 1,200,000,0 230,000,00 200,000,00 1,230,000,0
bonds 00.00 0.00 0.00 00.00
90,931,210. 3,189,909,1 230,000,00 200,007,18 3,219,901,9
Total 333 90,930,877
00 15.83 0.00 7.59 28.24
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Remarks on the current increase or decrease in other equity instruments, causes of changes and basis of related accounting
treatment:
40. Capital reserve
Unit: yuan
Item Beginning balance Current increase Current decrease Ending balance
Capital premium - (share capital
8,601,790,485.37 26,756.29 1,250,912,987.54 7,350,904,254.12
premium)
Other capital reserves 1,934,149,218.80 118,577,442.30 2,052,726,661.10
Wherein: changes in other equities
1,832,982,893.81 1,406,708.36 1,834,389,602.17
in invested entity
Provision for donated non-cash
2,544,124.59 2,544,124.59
assets received
Others 98,622,200.40 117,170,733.94 215,792,934.34
Total 10,535,939,704.17 118,604,198.59 1,250,912,987.54 9,403,630,915.22
Other remarks, including on current increase or decrease and cause of changes:
Notes:
(1) Among the current capital premium (equity premium), 26,756.29 yuan represents the capital reserve increased by the
conversion of “Hope Convertible Bonds” and “Hope Convertible Bond 2” in the current period;
(2) Among the current capital premium (equity premium), 1,250,912,987.54 yuan represents the capital reserve reduced by the
acquisition of minority interests;
(3) “Changes in other equities in invested entity” of other capital reserves mainly refer to the part of the company’s share in the
capital reserve changes of China Minsheng Bank and other companies accounted for using equity method, as calculated by the
company at the shareholding ratio, and the part of the company’s share in other equity change of subsidiaries;
(4) Current increase of “Others” represent capital reserves from share-based payment included in owner’s equity
41. Treasury shares
Unit: yuan
Item Beginning balance Current increase Current decrease Ending balance
Minus: treasury share 1,079,190,858.47 0.00 7,498,062.00 1,071,692,796.47
Total 1,079,190,858.47 0.00 7,498,062.00 1,071,692,796.47
Other remarks, including on current increase or decrease and cause of changes:
Notes:
(1) The book balance of treasury shares decreased by 5,157.51 yuan for reduction of 353 treasury shares due to the conversion of
“Hope Convertible Bonds” during the period;
(2) The book balance of treasury shares decreased by RMB 7,492,904.49 yuan due to the repurchase and cancellation of restricted
shares during the period, which did not affect the number of treasury shares.
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42. Other comprehensive income
Unit: yuan
Current amount
Minus: Minus:
amount amount
previously previously
included in included in After-tax After-tax
Beginning Current other other amount amount Ending
Item Minus:
balance amount comprehen comprehen attributable attributable balance
income tax
before sive sive to the to minority
expense
income tax income and income and parent shareholder
currently currently company s
transferred transferred
to profit or to retained
loss earnings
I. Other
comprehen
sive
-
income that 47,929,175. 29,440,095. 22,080,071. 7,360,023.7 73,470,640.
3,461,393.5
can not be 67 00 25 5 50
8
reclassified
into profit
or loss
Other
comprehen
sive
income that
cannot be 51,390,569. 29,440,095. 22,080,071. 7,360,023.7 73,470,640.
transferred 25 00 25 5 50
to profit or
loss under
the equity
method
Chang
e in fair
value of - -
investment 3,461,393.5 3,461,393.5 0.00
s in other 8 8
equity
instruments
II. Other
comprehen
sive
- -
income to 155,968,50 136,939,82 19,028,673.
912,686,24 775,746,41
be 2.25 8.70 55
1.64 2.94
reclassified
into profit
or loss
Wherein:
other
- -
comprehen 76,001,380. 57,001,035. 19,000,345.
75,420,516. 18,419,481.
sive 00 00 00
46 46
income that
can be
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transferred
to profit or
loss under
the equity
method
Foreig
n currency - -
79,967,122. 79,938,793.
statement 837,265,72 28,328.55 757,326,93
25 70
translation 5.18 1.48
difference
Total other
- - -
comprehen 185,408,59 159,019,89 26,388,697.
864,757,06 3,461,393.5 702,275,77
sive 7.25 9.95 30
5.97 8 2.44
income
Other remarks, including on the adjustments to the initially recognized amounts of the effective portion of cash flow hedging profit
or loss transferred to the hedged items:
43. Surplus reserve
Unit: yuan
Item Beginning balance Current increase Current decrease Ending balance
Legal surplus reserve 3,450,852,957.31 494,495.44 3,450,358,461.87
Total 3,450,852,957.31 494,495.44 3,450,358,461.87
Remarks on surplus reserve, including on the current increase or decrease and causes of change:
Note: the decrease in surplus reserves during the current period was due to the sale of subsidiaries.
44. Undistributed profits
Unit: yuan
Item Current amount Amount of the previous period
Undistributed profits at the end of the
9,472,252,710.50 11,182,964,166.86
previous period before adjustment
Beginning undistributed profits after
9,472,252,710.50 11,182,964,166.86
adjustment
Plus: net profits attributable to the owner
-2,982,653,024.87 -4,139,743,764.00
of the parent company in current period
Minus: appropriation of legal surplus
0.00 0.00
reserve
Ordinary share dividends payable -65,812.50 0.00
Payment of interest on perpetual bonds 32,716,666.67 154,056,883.65
Other comprehensive income carried
3,461,393.58 0.00
forward to undistributed profit
Subsidiary deregistration -494,495.44 -1,266,833.67
Ending undistributed profits 6,453,981,933.32 6,890,430,352.88
Breakdown of adjustment to beginning undistributed profits:
1) The effect of retrospective adjustments due to the Enterprise Accounting Standards and its new related provisions on the
beginning undistributed profits was 0.00 yuan.
2) The effect of changes to accounting policies on beginning undistributed profits was 0.00 yuan.
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3) The effect of corrections of significant accounting errors on the beginning undistributed profits was 0.00 yuan.
4) The effect of change to scope of consolidation due to common control on the beginning undistributed profits was 0.00 yuan.
5) The total effect of other adjustments on the beginning undistributed profits was 0.00 yuan.
45. Business revenue and operating costs
Unit: yuan
Current amount Amount of the previous period
Item
Revenue Cost Revenue Cost
Main business 69,236,788,082.80 68,041,011,382.93 62,112,030,662.69 61,908,237,146.88
Other businesses 216,092,363.34 155,417,999.56 217,500,413.95 155,317,027.49
Total 69,452,880,446.14 68,196,429,382.49 62,329,531,076.64 62,063,554,174.37
Information related to performance obligations
None
Information related to transaction prices allocated to remaining performance obligations:
The amount of revenue corresponding to performance obligations already contracted but not yet performed or completed at the end
of this reporting period is 2,249,428,800.69 yuan, of which 2,249,428,800.69 yuan is expected to be recognized in 2023.
46. Taxes and surcharges
Unit: yuan
Item Current amount Amount of the previous period
Urban maintenance and construction tax 6,218,236.66 8,157,854.01
Educational surcharge 3,015,515.02 3,910,704.38
Resources tax 1,259,065.38 821,108.26
Real estate tax 28,356,787.15 23,689,293.21
Land use tax 27,078,483.22 23,370,825.09
Vehicle and vessel use tax 556,413.60 334,668.39
Stamp duty 53,608,344.31 39,813,485.11
Local educational surcharge 2,017,457.37 2,595,894.61
Environmental protection tax 1,786,169.84 1,057,201.91
Water conservancy fund 1,411,840.95 1,665,755.38
Others 7,160,215.74 4,236,604.14
Total 132,468,529.24 109,653,394.49
Other remarks:
47. Selling expenses
Unit: yuan
Item Current amount Amount of the previous period
Payroll 748,925,105.55 703,907,701.61
Office costs 976,631.33 1,953,345.13
Travel expenses 37,529,425.65 38,320,876.62
Post and telecommunication expenses 961,740.93 2,394,264.25
Machine and materials consumption 2,502,680.08 2,444,749.73
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Amortization of low-value consumables 117,210.38 158,504.05
Depreciation expenses 2,167,388.30 2,445,340.93
Right-of-use asset depreciation cost 819,317.81 379,980.15
Rental expenses 5,136,258.36 5,500,024.83
Labor protection expenses 233,613.92 284,025.25
Transportation expenses 4,515,335.12 10,457,378.50
Conference expenses 2,705,801.01 1,607,780.92
Water and electricity expenses 168,453.60 231,830.39
Inspection and quarantine expenses 3,701,250.98 3,519,754.82
Advertising expenses 2,998,797.04 2,416,471.58
Publicity expenses 28,514,511.19 22,870,847.96
After-sales service expenses 6,363,223.53 6,172,966.71
Handling expenses 25,473,144.78 25,506,796.81
Warehousing expenses 15,196,177.73 8,953,393.27
Market management expenses 34,845,423.08 34,868,490.40
Return loss expenses 948,832.57 2,119,352.67
Amortization of revolving materials 1,807,786.56 1,222,128.14
Repair costs 392,887.31
Total 927,000,996.81 877,736,004.72
Other remarks:
48. Management expenses
Unit: yuan
Item Current amount Amount of the previous period
Payroll 1,241,594,047.90 1,228,707,416.13
Office costs 14,807,342.20 22,691,291.07
Travel expenses 41,140,772.22 41,824,995.22
Post and telecommunication expenses 11,676,081.72 14,376,133.59
Machine and materials consumption 26,450,974.77 35,379,705.17
Amortization of low-value consumables 2,918,246.08 3,117,067.12
Depreciation expenses 339,037,475.96 279,806,265.35
Right-of-use asset depreciation cost 138,531,689.36 158,270,822.25
Rental expenses 17,952,596.45 37,431,043.05
Labor protection expenses 5,398,848.52 6,275,220.18
Repair costs 21,266,212.88 50,989,109.62
Property insurance expenses 102,561,517.51 85,117,608.93
Transportation expenses 13,155,925.66 33,471,363.29
Membership dues and conference
8,558,452.22 9,250,616.84
expenses
Water and electricity expenses 41,293,527.60 44,266,637.95
Business entertainment expenses 37,753,977.45 43,498,302.73
Intermediary fees 118,505,382.09 149,325,017.14
Inventory loss, destruction and scrapping 9,944,814.46 30,140,332.77
Environmental protection fee 19,748,160.92 30,458,375.88
Trademark royalties 3,401,649.16 3,786,055.43
Amortization of intangible assets 43,010,027.58 43,067,557.99
Amortization of long-term deferred
43,909,486.75 39,779,845.95
expenses
Inspection and test fees 18,071,799.00 16,056,378.89
Startup costs 2,890.00 9,854.66
Taxes and charges 9,825,895.55 6,645,997.74
Expenses of board of directors 198,369.61 222,300.51
Heating expenses 7,954,540.98 13,158,084.55
Mutual fund for breeding 3,908,468.26 1,507,026.37
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Equity incentive expenses 125,822,258.47 741,812.52
Fund management fee 4,203,405.66
Safe production expenses 1,073,849.19 1,517,771.10
Others 3,028,724.33 921,062.09
Total 2,476,707,410.51 2,431,811,072.08
Other remarks
49. R&D expenses
Unit: yuan
Item Current amount Amount of the previous period
Payroll 89,958,825.43 104,758,058.39
Office costs 92,565.74 206,321.62
Travel expenses 4,620,371.58 4,319,359.01
Post and telecommunication expenses 159,277.61 252,472.59
Direct materials 17,883,224.76 21,675,892.11
Fuel and power 254,092.20 294,076.12
Costs of development and manufacture
47,535.39
of tools and molds
Pilot plant test costs 416,919.87 56,967.74
On-site test costs 20,131.71 333,466.00
Debugging and maintenance costs 6,579.20 29,558.38
Inspection and test fees 1,839,633.85 1,443,018.21
Labor protection expenses 181,653.38 11,352.27
Transportation expenses 226,119.12 176,999.45
Labor costs 317,806.82 192,107.80
Training costs 32,039.07 27,520.00
Design fee 80,267.00 233,809.70
Expert consulting fee 1,252,058.42 342,590.00
Cooperative development costs 612,000.00 1,057,900.00
Demonstration, review and inspection
9,600.00
fee
IP affairs expenses 639,823.92 284,532.43
Meeting expenses 532,786.34 238,986.02
Depreciation expenses 4,577,642.54 4,789,374.42
Right-of-use asset depreciation cost 1,220,375.00 812,758.50
Rental expenses 1,024,445.77 1,845,683.17
Amortization of intangible assets 1,389,066.00 1,519,623.88
Equity incentive expenses 5,122,963.30 244,460.94
Intermediary fees 278,740.77 118,550.81
Amortization of long-term deferred
2,807,452.12 3,907,283.65
expenses
Others 1,877,481.37 814,349.32
Total 137,433,942.89 150,034,607.92
Other remarks
50. Financial expenses
Unit: yuan
Item Current amount Amount of the previous period
Interest expenditure 1,015,887,924.02 755,642,004.97
Minus: interest revenue 65,172,165.77 91,683,189.02
Exchange loss 343,230,212.42 185,460,140.19
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Minus: exchange income 277,795,925.96 102,858,480.50
Others 13,357,892.36 14,421,401.60
Total 1,029,507,937.07 760,981,877.24
Other remarks
51. Other revenue
Unit: yuan
Source of other income Current amount Amount of the previous period
Amortization of deferred income - assets 29,975,213.93 23,732,103.67
Amortization of deferred income -
9,112,402.16 4,980,251.87
income
Rebate of handling fee on withheld
2,748,405.62 4,444,326.67
personal income tax
Government subsidy related to daily
90,572,484.74 69,436,029.68
business activities
Subtotal 132,408,506.45 102,592,711.89
52. Investment income
Unit: yuan
Item Current amount Amount of the previous period
Income on long-term equity investments
1,016,415,308.30 1,026,435,491.87
accounted for under the equity method
Investment income from disposal of
606,259.99 -2,833,026.52
long-term equity investments
Investment income from disposal of
43,064,834.83 27,503,896.43
held-for-trading financial assets
Investment income from disposal of
6,784,000.00
other equity instruments
Total 1,066,870,403.12 1,051,106,361.78
Other remarks
53. Income from change in fair value
Unit: yuan
Source of income from change in fair
Current amount Amount of the previous period
value
Held-for-trading financial assets -37,502,990.86 2,274,903.97
Wherein: income from change in
-37,502,990.86 2,274,903.97
fair value of derivative instruments
Held-for-trading financial liabilities -22,597,460.41 -3,529,216.09
Total -60,100,451.27 -1,254,312.12
Other remarks:
54. Credit impairment loss
Unit: yuan
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Item Current amount Amount of the previous period
Bad debt loss from other receivables 32,061,345.04 -36,062,005.23
Bad debt loss from accounts receivable -64,041,924.00 -28,125,524.43
Total -31,980,578.96 -64,187,529.66
Other remarks
55. Asset impairment loss
Unit: yuan
Item Current amount Amount of the previous period
II. Loss on inventory revaluation and
impairment loss of contract performance -884,764,393.43 -1,328,087,107.41
cost
Total -884,764,393.43 -1,328,087,107.41
Other remarks:
56. Income from asset disposal
Unit: yuan
Source of income from asset disposal Current amount Amount of the previous period
Income from disposal of fixed assets 10,155,149.72 -17,806,686.62
Income from disposal of construction in
-1,781,148.41
progress
Income from disposal of productive
54,694,847.33 24,599,325.65
biological assets
Income from disposal of intangible assets 10,570,703.07 7,547.17
Income from disposal of right-of-use
25,303,610.40 1,321,081.84
assets
Total 98,943,162.11 8,121,268.04
57. Non-business revenue
Unit: yuan
Amount of the previous Amount included in current
Item Current amount
period non-recurring profit or loss
Penalty revenue 6,869,419.23 6,007,637.11 6,869,419.23
Gains on inventory taking 27,997.69 585,750.56 27,997.69
Payables that cannot be paid 43,329,494.17 28,097,423.49 43,329,494.17
Revenue from insurance
12,635,104.57 15,465,458.26 12,635,104.57
indemnities
Others 61,584.81 19,957.00 61,584.81
Total 62,923,600.47 50,176,226.42 62,923,600.47
58. Non-operating expenditure
Unit: yuan
Amount of the Amount included in current non-
Item Current amount
previous period recurring profit or loss
External donations 5,393,488.48 6,643,690.80 5,393,488.48
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Total loss from scrapping and destruction of
249,411,343.15 625,552,186.98 249,411,343.15
non-current assets
Wherein: loss from scrapping and destruction
6,352,184.09 8,008,656.28 6,352,184.09
of fixed assets
Loss from scrapping and destruction of
231,827,617.43 615,526,156.05 231,827,617.43
productive biological assets
Loss from scrapping of intangible assets 31,576.23 31,576.23
Loss from destruction and scrapping of
11,199,965.40 2,017,374.65 11,199,965.40
construction in progress
Penalty expenses 5,312,982.38 5,513,270.99 5,312,982.38
Indemnities/liquidated damages 62,604,181.07 66,717,487.67 62,604,181.07
Extraordinary losses 967,367.00 54,131,466.43 967,367.00
Loss on inventory taking 48,543.52 804,096.34 48,543.52
Others 10,430.28 10,822.47 10,430.28
Total 323,748,335.88 759,373,021.68 323,748,335.88
Other remarks:
59. Income tax expenses
(1) Statement of income tax expenses
Unit: yuan
Item Current amount Amount of the previous period
Current income tax expense 171,623,268.83 139,375,940.65
Deferred income tax expense -10,033,098.56 1,381,982.47
Total 161,590,170.27 140,757,923.12
(2) Process of adjustment to accounting profits and income tax expenses
Unit: yuan
Item Current amount
Total profits -3,430,974,236.77
Income tax expenses calculated at statutory/applicable tax rates -857,743,559.19
Effect of subsidiaries subject to different tax rates -161,844,554.57
Effect of adjustment to income tax in previous periods -21,073,174.66
Effect of nontaxable income 1,007,887,846.64
Effect of non-deductible costs, expenses and losses 13,500,700.53
Effect of use of deductible losses with respect to which
-14,982,825.02
deferred income tax assets are not previously recognized
Effect of deductible temporary difference or deductible loss of
350,788,814.74
deferred income tax assets not recognized in the current period
Effect of profit or loss of joint ventures and affiliates accounted
-154,737,234.63
for using equity method
Effect of additional R&D cost deduction -205,843.57
Income tax expense 161,590,170.27
Other remarks
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60. Other comprehensive income
Refer to Note VII. 42 “Other comprehensive income” for details.
61. Items in cash flow statement
(1) Other cash received in connection with operating activities
Unit: yuan
Item Current amount Amount of the previous period
Various temporary receipts received 485,717,430.56 396,547,699.46
Various subsidies received 145,927,322.73 153,679,809.95
Interest revenue from bank deposits 38,309,887.42 38,242,695.66
Penalty revenue 6,869,419.23 6,007,637.11
Others 12,516,372.80 15,574,769.29
Total 689,340,432.74 610,052,611.47
Remarks on other cash received in connection with operating activities:
(2) Other cash paid in connection with operating activities
Unit: yuan
Item Current amount Amount of the previous period
Various provisional payment and deposit
917,374,263.29 1,793,425,249.74
paid
Bank commission, etc. 13,357,892.36 14,421,401.60
Selling expenses 173,164,188.21 171,002,982.03
General and administrative expenses 522,113,468.40 644,651,021.38
R&D expenses 32,350,696.00 34,003,048.14
Penalty expenses 5,312,982.38 5,513,270.99
Others 67,997,669.55 73,372,000.94
Total 1,731,671,160.19 2,736,388,974.82
Remarks on other cash paid in connection with operating activities:
(3) Other cash received in connection with investing activities
Unit: yuan
Item Current amount Amount of the previous period
Futures margin recovered and interest
259,931,955.40 108,562,993.32
rate swap collections
Equity transfer price received in advance 12,000,000.00
Total 271,931,955.40 108,562,993.32
Remarks on other cash received in connection with investing activities:
(4) Other cash paid in connection with investing activities
Unit: yuan
Item Current amount Amount of the previous period
Prepaid investment 3,390,000.00 2,500,000.00
Interest rate swaps paid 62,614,994.26 19,088,883.49
399
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Various margins, etc/ 149,385,337.97 100,993,622.60
Cash reduced due to disposal of
41,334,815.33
subsidiaries
Total 256,725,147.56 122,582,506.09
Remarks on other cash paid in connection with investing activities:
(5) Other cash received in connection with financing activities
Unit: yuan
Item Current amount Amount of the previous period
Contribution for ESOP 83,724,947.50
Cash received from sale-and-leaseback 300,000,000.00
Futures margin obtained by warehouse
receipt pledge at Dalian Commodity 62,991,232.00
Exchange
Recovery of margin for borrowings 445,782.98
Total 383,724,947.50 63,437,014.98
Remarks on other cash received in connection with financing activities:
(6) Other cash paid in connection with financing activities
Unit: yuan
Item Current amount Amount of the previous period
Refund of ESOP 29,504,257.31
Payment for sale-and-leaseback
53,741,770.75
financing lease
Due diligence and guarantee fees for
4,852,830.18
borrowings, etc.
Cash distributed to minority shareholders
2,800,037.71
due to company deregistration
Cash paid for acquisition of minority
2,597,000,000.00 219,700.00
equities
Payment of rental and interest on right-
309,371,982.62 387,061,027.24
of-use assets
Various margins for issuance of
182,881,556.64
perpetual bonds and notes discounted
Redemption of perpetual bonds 200,000,000.00 2,760,000,000.00
Return of futures margin obtained by
warehouse receipt pledge at Dalian 41,023,232.00
Commodity Exchange
Total 3,189,618,010.68 3,378,838,383.77
Remarks on other cash paid in connection with financing activities:
62. Additional information about cash flow statement
(1) Additional information about cash flow statement
Unit: yuan
Additional information Current amount Prior amount
1. Net profit adjusted to cash flow from operating activities:
400
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Net profits -3,592,564,407.04 -5,165,108,921.68
Plus: assets impairment provision 916,744,972.39 1,392,274,637.07
Depreciation of fixed assets, depletion of oil and gas assets and depreciation
2,072,079,380.34 2,375,211,157.38
of productive biological assets
Depreciation of right-of-use assets 355,123,118.29 429,495,963.52
Amortization of intangible assets 49,924,389.07 49,994,378.81
Amortization of long-term deferred expenses 75,031,972.38 79,599,467.67
Loss from disposal of fixed assets, intangible assets and other long-term
-98,943,162.11 -8,121,268.04
assets (“-” for gains)
Loss from retirement of fixed assets (“-” for gains) 249,411,343.15 625,552,186.98
Loss from changes in fair value (“-” for gains) 60,100,451.27 1,254,312.12
Financial expenses (“-” for gains) 1,081,322,210.48 838,243,664.66
Loss on investment (“-” for gains) -1,066,870,403.12 -1,051,106,361.78
Decrease in deferred income tax assets (“-” for increase) -11,685,373.80 743,398.80
Increase in deferred income tax liabilities (“-” for decrease) -1,193,357.83 1,679,056.93
Decrease in inventories (“-” for increase) 1,020,369,083.92 -2,400,013,909.92
Decrease in operating receivables (“-” for increase) 634,161,525.83 -2,647,332,950.25
Increase in operating payables (“-” for decrease) 239,042,904.92 4,344,108,033.27
Others
Net cash flows from operating activities 1,982,054,648.14 -1,133,527,154.46
2. Significant investment and financing activities involving no cash receipt or
expenditure:
Debts converted to capital
Convertible corporate bonds due in 1 year
Fixed assets under financing lease
3. Net change in cash and cash equivalents:
Ending balance of cash 9,102,514,781.49 10,692,312,366.01
Minus: beginning balance of cash 9,714,019,174.24 14,292,784,234.11
Plus: ending balance of cash equivalents
Minus: beginning balance of cash equivalents
Net increase in cash and cash equivalents -611,504,392.75 -3,600,471,868.10
(2) Net cash paid for acquisition of subsidiaries in the current period
Unit: yuan
Amount
Wherein:
Wherein:
Plus: cash or cash equivalents paid in the current period for business
6,072,582.05
combinations occurred in the previous periods
Wherein:
Exceptional Assets Limited 3,822,582.05
Qinzhou New Hope Liuhe Farming Technology Co., Ltd. 1,000,000.00
Hangzhou Guanglv Breeding Co., Ltd. 1,250,000.00
Net cash paid for acquisition of subsidiaries 6,072,582.05
401
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Other remarks:
(3) Net cash received from disposal of subsidiaries in the current period
Unit: yuan
Amount
Cash or cash equivalents received in the current period for
1,905,000.00
disposal of subsidiaries in the current period
Wherein:
Gaomi Liuhe Pig Farming Co., Ltd. 1,905,000.00
Minus: cash and cash equivalents held by subsidiaries at the
172.03
date of loss of control
Wherein:
Gaomi Liuhe Pig Farming Co., Ltd. 172.03
Plus: cash or cash equivalents received in the current period for
256,870,500.00
disposal of subsidiaries in previous periods
Wherein:
Rong County Xinmu Farming Co., Ltd. 43,029,300.00
Zizhong Xinyue Farming Technology Co., Ltd. 38,992,560.00
Nanchong Xinhao Farming Co., Ltd. 46,342,560.00
Anyue New Hope Liuhe Farming Co., Ltd. 11,329,920.00
Yanyuan Xinliu Farming Technology Co., Ltd. 29,961,000.00
Gulin County Xinliu Ecological Farming Technology Co., Ltd. 16,094,820.00
Chongqing Pengshui Xinliu Farming Technology Co., Ltd. 17,666,940.00
Hanyuan Xinliu Farming Technology Co., Ltd. 7,361,520.00
Chongqing Qianjiang District Xinhao Farming Technology
14,477,820.00
Co., Ltd.
Neijiang New Hope Liuhe Farming Technology Co., Ltd. 20,345,580.00
Wushan County Xinchi Farming Technology Co., Ltd. 11,268,480.00
Net cash received from disposal of subsidiaries 258,775,327.97
Other remarks:
(4) Composition of cash and cash equivalents
Unit: yuan
Item Ending balance Beginning balance
I. Cash 9,102,514,781.49 9,714,019,174.24
Wherein: cash on hand 20,187,552.74 18,939,835.86
Bank deposits readily available for payment 8,695,394,859.48 8,960,168,119.87
Other monetary capital readily available for payment 386,932,369.27 734,911,218.51
III. Ending balance of cash and cash equivalents 9,102,514,781.49 9,714,019,174.24
Wherein: cash and cash equivalents of the parent company or subsidiaries
948,272,428.70 698,411,008.11
inside the group restricted from use
Other remarks:
Monetary capital not recognized as cash and cash equivalents is 2,048,272,428.70 yuan, of which: 948,272,428.70 yuan is
monetary capital with limited use, and 1,100,000,000.00 yuan is time deposit to be held to maturity.
402
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63. Notes to items in the statement of changes in equity
Specify the item name included in “Others” adjustment to the ending balance of the previous year and the amounts of adjustment,
etc.:
64. Assets with restricted ownership or use right
Unit: yuan
Item Ending book value Cause of restriction
Purchase of futures, margins of guarantee companies, note margins and
Monetary capital 948,272,428.70
reclamation margins, etc.
Used as collateral for long and short-term borrowings and for financial sale and
Fixed assets 844,381,711.78
leaseback
Intangible assets 38,297,553.95 Used as collateral for long and short-term borrowings
Long-term equity
865,194,100.00 Used as pledge for long-term borrowings
investments
Total 2,696,145,794.43
Other remarks:
Note 1: the company took the land and house properties of New Hope Turkey Feed and Farming Food Import & Export and
Industry Ltd., land and house properties of Wuwei Hope Feed Co., Ltd., land and house properties of Wuhan Guoxiong Feed
Technology Co., Ltd., land and house properties of Laiwu Changlong Industrial Development Co., Ltd., land and house properties
of Anhui Baixin Feed Co., Ltd., land of Mianyang New Hope Liuhe Farming Technology Co., Ltd., land and house properties of
Taizhou New Hope Agriculture Co., Ltd., house properties of Chongqing Guoxiong Feed Co., Ltd., land and house properties of
New Hope Singapore Biotechnology Ltd., and land and house properties of Beijing Kinghey Food Co., Ltd. as collaterals for long
and short-term borrowings of a total amount of 229.0001 million yuan.
Note 2: subsidiaries of the company, including Tongliao Xinhao Farming Co., Ltd., Weifang Heshengyuan Food Co., Ltd.,
Deyang New Hope Liuhe Food Co., Ltd., Yangling Besun Agricultural Industry Group Co., Ltd., Jingzhou New Hope Feed Co.,
Ltd., Nanning New Hope Farming Technology Co., Ltd., Hebei Kinghey Meat Industry Co., Ltd., Huzhou Haihuang
Biotechnology Co., Ltd., Weifang Liuhe Feed Co., Ltd., Gaomi Liuhe Breeding Co., Ltd., Feicheng Liuhe Breeding Co., Ltd.,
Weifang New Hope Liuhe Feed Technology Co., Ltd., signed contracts with financial leasing companies to transfer part of their
machinery and equipment to these financial leasing companies and lease them back. After the lease term expires, the ownership of
such machinery and equipment are acquired with a nominal amount of 1 yuan. As this sale and leaseback transaction does not
constitute a sale, the underlying assets are not subject to termination of recognition and long-term payables equal to the transfer
income are recognized. As of June 30, 2023, the book value of the above sale and leaseback transaction related fixed assets was
629.0054 million yuan, and the corresponding long-term payables (including long-term payables due within one year) was
539.3642 million yuan.
Note 3: the company’s subsidiary Beijing New Hope Liuhe Biotechonlogy Industry Group Co., Ltd. took its capital contributions
of 40 million yuan to Fucheng Xinhao Farming Co., Ltd., 60 million yuan to Gaomi Xinliu Farming Technology Co., Ltd., 168
million yuan to Huanghua Xinhao Technology Co., Ltd., 168 million yuan to Xiangzhou Xinhao Farming Co., Ltd., 91 million
yuan to Raoyang Xinhao Farming Co., Ltd., 100.89 million yuan to Baiyin New Hope Farming Technology Co., Ltd., 100 million
yuan to Kangping Xinwang Farming Co., Ltd. and 60 million yuan to Zhucheng Xinliu Farming Technology Co., Ltd. as pledges,
and the company took its capital contribution of 77.3041 million yuan to Beijing Meihao Meideling Food Co., Ltd. as pledges, to
provide equity pledge guarantees for New Hope Liuhe Co., Ltd. to secure 371 million yuan, 114.168 million yuan, 340.05 million
403
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yuan and 366.9339 million yuan financing from China Development Bank Sichuan Branch, ADB, The Export-Import Bank of
China Sichuan Branch and Postal Savings Bank of China Chengdu Tianfu Sub-branch respectively.
65. Foreign-currency monetary items
(1) Foreign-currency monetary items
Unit: yuan
Ending foreign-currency Ending converted RMB
Item Exchange rate for translation
balance balance
Monetary capital 1,238,712,702.22
Wherein: USD 73,923,351.49 7.2258 534,155,353.20
EUR
HKD 2,274,139.22 0.92198 2,096,710.88
SGD 780,769.84 5.3442 4,172,590.18
VND 371,569,876,100.00 0.00030358 112,801,182.99
PHP 297,915,995.75 0.13051423 38,882,276.79
BDT 2,156,042,515.72 0.06648999 143,355,245.31
LKR 446,613,933.04 0.02340221 10,451,753.05
IDR 180,406,394,900.00 0.00048153 86,871,091.34
MMK 26,303,863,467.27 0.00344086 90,507,911.65
EGP 581,155,465.83 0.23375509 135,848,048.22
ZAR 3,207,041.09 0.38638383 1,239,148.82
TRY 1,382,755.91 0.2783 384,820.97
LAK 13,345,539,971.69 0.00037439 4,996,436.71
THB 1,936,638.36 0.20343397 393,978.03
NPR 163,680,815.72 0.05503577 9,008,299.73
INR 72,944,602.54 0.088458 6,452,533.65
NGN 6,005,393,801.00 0.00950734 57,095,320.70
Accounts receivable 730,172,364.30
Wherein: USD 3,672,682.35 7.2258 26,538,068.12
EUR 0.00
HKD 20,335,789.87 0.92198 18,749,191.54
VND 425,188,325,000.00 0.00030358 129,078,671.70
PHP 289,623,844.54 0.13051423 37,800,033.06
BDT 735,883,640.83 0.06648999 48,928,895.92
LKR 30,938,414.79 0.02340221 724,027.28
IDR 640,915,546,400.00 0.00048153 308,620,063.06
MMK 6,703,350,197.33 0.00344086 23,065,289.56
EGP 488,722,672.78 0.23375509 114,241,412.36
TRY 245,615.56 0.2783 68,354.81
LAK 3,241,403,990.49 0.00037439 1,213,549.24
NPR 305,372,298.72 0.05503577 16,806,399.60
INR 49,044,607.51 0.088458 4,338,387.89
NGN 2,120.47 0.00950734 20.16
Other receivables 44,528,217.41
Wherein: USD 4,789,728.42 7.2258 34,609,619.62
HKD 124,292.25 0.92198 114,594.97
SGD 26,498.50 5.3442 141,613.28
VND 8,681,721,800.00 0.00030358 2,635,597.10
PHP 6,258,978.96 0.13051423 816,885.82
BDT 27,348,952.53 0.06648999 1,818,431.58
404
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LKR 5,990,700.88 0.02340221 140,195.64
IDR 4,564,861,700.00 0.00048153 2,198,117.85
MMK 201,749,106.33 0.00344086 694,190.43
EGP 4,521,907.57 0.23375509 1,057,018.91
ZAR 7,216.19 0.38638383 2,788.22
TRY 221,504.46 0.2783 61,644.69
INR 28,485.04 0.088458 2,519.73
NGN 24,717,699.17 0.00950734 234,999.57
Short-term borrowings 1,087,893,844.92
Wherein: USD 137,276,111.94 7.2258 991,929,729.66
VND 247,280,778,395.00 0.00030358 75,069,498.71
NPR 31,764,349.15 0.05503577 1,748,175.41
IDR 10,000,000,000.00 0.00048153 4,815,300.00
PHP 2,173,819.77 0.13051423 283,714.41
TRY 8,500,000.00 0.2783 2,365,550.00
EGP 49,974,855.00 0.23375509 11,681,876.73
Accounts payable 787,681,697.88
Wherein: USD 16,757,088.79 7.2258 121,083,372.18
HKD 416,202.99 0.92198 383,730.83
SGD 386,731.40 5.3442 2,066,769.95
VND 381,499,943,300.00 0.00030358 115,815,752.79
PHP 605,515,739.32 0.13051423 79,028,420.47
BDT 1,069,512,146.72 0.06648999 71,111,851.94
LKR 204,073,677.23 0.02340221 4,775,775.05
IDR 499,121,523,800.00 0.00048153 240,341,987.36
MMK 5,950,316,842.30 0.00344086 20,474,207.21
EGP 401,263,002.57 0.23375509 93,797,269.28
ZAR 85,077.86 0.38638383 32,872.71
TRY 3,369,840.35 0.2783 937,826.57
LAK 17,804,010,043.00 0.00037439 6,665,643.32
NPR 200,196,986.41 0.05503577 11,017,995.30
INR 125,684,549.75 0.088458 11,117,803.90
NGN 949,836,549.44 0.00950734 9,030,419.02
Other payables 27,858,078.23
Wherein: USD 305,413.09 7.2258 2,206,853.91
SGD 280,995.94 5.3442 1,501,698.50
VND 10,853,820,100.00 0.00030358 3,295,002.71
PHP 60,774,809.23 0.13051423 7,931,977.43
BDT 9,458,601.96 0.06648999 628,902.35
LKR 3,288,600.52 0.02340221 76,960.52
IDR 16,910,090,700.00 0.00048153 8,142,715.97
MMK 223,343,510.05 0.00344086 768,493.75
EGP 3,711,425.92 0.23375509 867,564.70
ZAR 2,309,130.85 0.38638383 892,210.82
TRY 1,244,975.67 0.2783 346,476.73
LAK 217,440,529.93 0.00037439 81,407.56
NPR 7,533,226.94 0.05503577 414,596.95
INR 6,740,975.61 0.088458 596,293.22
NGN 11,246,374.91 0.00950734 106,923.11
Long-term borrowings due in
2,561,291,676.60
1 year
Wherein: USD 354,168,949.68 7.2258 2,559,153,996.60
SGD 400,000.00 5.3442 2,137,680.00
Long-term borrowings 158,218,528.80
Wherein: USD 20,000,000.00 7.2258 144,516,000.00
EUR
405
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HKD
SGD 2,564,000.00 5.3442 13,702,528.80
Other remarks:
(2) Remarks on overseas operating entities, including disclosure of principal place of business, accounting
currency and selection basis for important overseas operating entities, as well as the reasons for
disclosure of changes to accounting currency, if any.
applicable □not applicable
Principal place of Accounting Basis for selection of
Entity Name
business currency accounting currency
New Hope Hanoi LLC Vietnam VND Local principal currency
New Hope Ho Chi Minh City Co., Ltd. Vietnam VND Local principal currency
New Hope Binh Dinh Co., Ltd. Vietnam VND Local principal currency
New Hope Dong Thap Aquatic Feed Co., Ltd. Vietnam VND Local principal currency
Than Hoa New Hope Livestock Services Co., Ltd. Vietnam VND Local principal currency
New Hope Binh Dinh Livestock Co., Ltd. Vietnam VND Local principal currency
New Hope Vinh Long Co., Ltd. Vietnam VND Local principal currency
New Hope Binh Phuoc Livestock Co., Ltd. Vietnam VND Local principal currency
New Hope Vietnam Technological Livestock Services
Vietnam VND Local principal currency
Co., Ltd.
Sichuan New Hope Agriculture (Cambodia) Co., Ltd. Cambodia USD Local principal currency
New Hope Pampanga Agriculture Inc. Phillipines PHP Local principal currency
New Hope Central Luzon Agriculture Inc. Phillipines PHP Local principal currency
New Hope Tarlac Agriculture Inc. Phillipines PHP Local principal currency
New Hope Bulacan Agriculture Inc. Phillipines PHP Local principal currency
New Hope Isabela Agriculture Inc. Phillipines PHP Local principal currency
New Hope Philippines Animal Healthcarae Services
Phillipines PHP Local principal currency
Inc.
New Hope Davao Agriculture Ltd. Phillipines PHP Local principal currency
New Hope Philippines Livestock Inc. Phillipines PHP Local principal currency
New Hope Bangladesh Ltd. Bangladesh BDT Local principal currency
New Hope Agrotech Bangladesh Ltd. Bangladesh BDT Local principal currency
New Hope Farms Bangladesh Ltd. Bangladesh BDT Local principal currency
Xinhe International Trade Co., Ltd. Bangladesh BDT Local principal currency
New Hope Animal Nutrition Bangladesh Ltd. Bangladesh BDT Local principal currency
New Hope Lanka (Pvt) Limited Sri Lanka LKR Local principal currency
PT New Hope Jawa Timur Indonesia IDR Local principal currency
PT New Hope Indonesia Indonesia IDR Local principal currency
PT New Hope Medan Indonesia IDR Local principal currency
PT New Hope Farms Indonesia Indonesia IDR Local principal currency
PT New Hope Food Indonesia Indonesia IDR Local principal currency
PT New Hope Aqua Feed Indonesia Indonesia IDR Local principal currency
PT New Hope Poultry Trade Indonesia Indonesia IDR Local principal currency
PT Corn Drying Indonesia Indonesia IDR Local principal currency
New Hope Singapore Pte. Ltd. Singapore USD Local principal currency
New Hope Asia Investment Pte. Ltd. Singapore USD Local principal currency
New Hope International Holdings (Pte.) Ltd. Singapore USD Local principal currency
New Hope Global Investment Pte. Ltd. Singapore USD Local principal currency
New Hope Singapore Premix Pte. Ltd. Singapore USD Local principal currency
New Hope Singapore Biotechnology Pte. Ltd. Singapore SGD Local principal currency
NHCS Investment Pte. Ltd. Singapore SGD Local principal currency
Myanmar New Hope Farms Co., Ltd. Myammar MMK Local principal currency
Myanmar New Hope Agro-Technology Co., Ltd. Myammar MMK Local principal currency
Xinhe Myanmar Agro-technology Co., Ltd. Myammar MMK Local principal currency
New Hope Mandalay Co., Ltd. Myammar MMK Local principal currency
New Hope Egypt Ltd. Egypt EGP Local principal currency
406
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New Hope Agriculture (Egypt) Ltd. Egypt EGP Local principal currency
New Hope Alexander Ltd. Egypt EGP Local principal currency
New Hope Egypt Aquatic Technology Ltd. Egypt EGP Local principal currency
New Hope Egypt Poultry Ltd. Egypt EGP Local principal currency
New Hope South Africa Ltd. South Africa ZAR Local principal currency
New Hope Turkey Feed and Farming Food Import &
Turkey TRY Local principal currency
Export and Industry Ltd.
New Hope Laos Co., Ltd. Laos LAK Local principal currency
New Hope Agro Business Nepal Pvt. Ltd. Nepal NPR Local principal currency
New Hope Kolkata Animal Feed Private Ltd. India INR Local principal currency
New Hope Agro-technology Nigeria Ltd. Nigeria NGN Local principal currency
Note: as detailed in “Note V. 9 Foreign currency transactions and translation of foreign currency statements”, the
“Undistributed profits” in the owner’s equity is calculated and presented based on the items of net profits and profit distribution
after translation; other items of owner’s equity other than undistributed profits are converted at the spot exchange rate when
occurring. The difference between the sum of assets and liabilities after translation and the sum of items of owner’s equity is
recognized as other comprehensive income by virtue of foreign currency statement translation difference.
All overseas operating entities of the company adopt the currencies in primary economic environments in which they operate
as accounting currencies, and none of overseas operating entities changed their accounting currencies in the current period.
66. Government subsidy
(1) Basic information of government subsidies
Unit: yuan
Item Amount included in
Category Amount
presented current profit or loss.
Headquarters - Efficient development and utilization of feeding resources Deferred
140,000.00
of brewing grains (special fund) income
Headquarters - Development and application of new energy feed nutrition Deferred
165,000.00 1,355.61
database and diversified corn substitution technology (special fund) income
Deferred
Share research -Major agriculture project 1 22,500,000.00 628,577.49
income
Jiangmen Liuhe - “Development and application of safe and efficient
Deferred
bacteria-enzyme cooperative fermentation feed industrialization technology 100,000.00 12,903.24
income
for ducks” project subsidy
Xinjin Xinhao - “Internet of Things + Smart Agriculture” new technology Deferred
2,000,000.00 50,000.01
pig farm project construction subsidy income
Deferred
Laiwu Liuhe Food - Land transfer price 2,226,855.92 1,698,949.52
income
Deferred
Puyang Xinliu - Government donated assets 9,843,200.00 164,053.32
income
Deferred
Qingdao Jiazhi - Special fund for Qingdao “Future Star” training program 100,000.00 16,666.68
income
Deferred
Qingdao Jiazhi - 2022 District-level talent policy fund 250,000.00 41,666.66
income
Qingdao Jiazhi - 2023 Shandong key R&D program (competitive Deferred
1,690,000.00
innovation platform) fund income
Deferred
Qingdao Jiazhi - District-level excellent expert workstation talent fund 100,000.00 16,666.66
income
Qingdao Jiazhi - Special fund for the construction of Qingdao Technology Deferred
350,000.00 216,666.68
Innovation Center income
Bigong Pig Farm - National pig industry technology system Yangling Deferred
430,000.00 35,833.37
comprehensive test station income
Linyi Breeding Pig - Subsidy for breeding boars and sows 367,200.00 Deferred 20,400.00
407
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
income
Liaoning Xinwang - Government subsidy for livestock and poultry Deferred
3,000,000.00 2,500,000.02
standardized scale farm project income
Sheyang Liuhe - Scientific and technological innovation breakthrough Deferred
20,000.00
bonus 2021 income
Sheyang Liuhe - Science and technology innovation for development Deferred
371,600.00
bonus 2021 income
Deferred
Laizhou Xinhai - Cultivated land conservation subsidy 43,800.00 20,701.50
income
Deferred
Wuqi Xinliu - Loan interest subsidy 938,100.00
income
Deferred
Juye Xinhao - Modern agricultural industrial park project fund 400,000.00 76,666.65
income
Deferred
Taian Xinchi - Breeding sows subsidy 69,376.00 2,392.28
income
Deferred
Gansu Xinhao - Agricultural machinery subsidy 47,200.00 8,597.43
income
Deferred
Santai Farming - Pig moving out of major county project subsidy 1,600,000.00 69,444.46
income
Liuhe Feed - Annual district intellectual property funds allocated by Deferred
280.00 280.00
Laoshan District Market Supervision Administration income
Deferred
Yanting Xinhao - Loan interest subsidy 4,500,000.00
income
Deferred
Leshan Farming - Breeding sows subsidy 92,000.00 126,214.92
income
Deferred
Hengyang Xinhao - Fermentation tank subsidy 95,100.00 2,627.05
income
Hengnan Muyun - Livestock and poultry waste resource utilization project Deferred
113,100.00
funds organic fertilizer treatment farm subsidy income
Deferred
Beijing Xinliu - Machinery purchase subsidy 5,051,450.00 126,286.26
income
Jieyang Guoxiong - Grain-saving and environment-friendly meat and Deferred
200,000.00 50,000.00
poultry feed development and application (special fund) income
Hope Food - Chengdu industrial circle construction and chain strengthen Deferred
100,000.00
talent plan income
Hope Food - Meat food safety control key technology and digital cold Deferred
175,000.00
chain system research and application demonstration income
Hope Food - Key technology for industrialized production of Sichuan-style Deferred
184,000.00
convenience dishes income
Deferred
Wanxi White Goose - Breeding fund 360,000.00 360,000.00
income
Century Investment - Sichuan pig industry chain quality and efficiency
Deferred
improvment technology research and integration demonstration (special 350,000.00 154,417.20
income
fund)
Deferred
Zhongyang Farming - Henhouse subsidy 2,970,000.00 148,500.00
income
Deferred
Liuhe Group - Standardization work project (special fund) 120,000.00
income
Liuhe Group - Study of green tea extract on intestinal oxidative stress and Deferred
50,000.00
microorganisms of commercial pigs (special fund) income
Liuhe Group - Qingdao Key Laboratory of Animal Feed Safety (special Deferred
500,000.00
fund) income
Liuhe Group - Construction of modern agricultural industrial technology Deferred
430,000.00
system waterfowl (special fund) income
Deferred
Liuhe Group - Postdoctoral research workstation special fund 50,000.00 25,000.00
income
Liuhe Group - Livestock and poultry environmental and healthy breeding 200,000.00 Deferred
408
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
model and product R&D (special fund) income
Deferred
Tongcheng Xinhao - Manure resource utilization project subsidy 7,128,170.45 237,605.64
income
Deferred
Wannian Xinhai - Cold storage construction project subsidy 60,000.00 2,479.35
income
Deferred
Weifang New Hope - Yuandu talent project 100,000.00 330,886.97
income
Laiyang Liuhe Yantai Double Hundred Talent Project (research and
Deferred
development, demonstration and promotion of efficient ecological feed 200,000.00 80,000.00
income
formula technology for broilers)
Other
Amortization of deferred income - assets 24,670,295.52 24,670,295.52
income
Other
Amortization of deferred income - income 7,191,481.60 7,191,481.60
income
Financial
Amortization of deferred income - income 1,799,555.72 1,799,555.72
expenses
Financial
Financial discount on bank loans 1,473,427.80 1,473,427.80
expenses
Other
Rebate of handling fee on withheld personal income tax 2,748,405.62 2,748,405.62
income
Other
Government subsidy related to daily business activities 90,572,484.74 90,572,484.74
income
Total 198,237,083.37 - 135,681,489.97
(2) Return of government subsidies
□applicable not applicable
Other remarks:
VIII. Changes in the scope of consolidation
1. Disposal of subsidiaries
Where there were any circumstances in which the company lost control upon a single disposal of investments in subsidiaries
yes □no
Unit: yuan
Differe Metho Amou
nce d and nt of
betwee Earnin main other
n the gs or assum compr
dispos Book Fair losses ptions ehensi
Ratio
Basis al value value from for ve
of
for price of of re- determ incom
Price Ratio Way remain
Name Time determ and the remain remain measur ination e
of of of ing
of of loss ination share ing ing ement of fair transfe
equity equity equity equitie
subsidi of of the of net equitie equitie of value rred to
dispos dispos dispos s at the
ary control time of assets s at the s at the remain of invest
al al al date of
loss of of the date of date of ing remain ment
loss of
control subsidi loss of loss of equitie ing profit
control
ary at control control s at equitie or loss
the fair s at the in
consoli value date of connec
dated loss of tion
level control with
409
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
corres origina
pondin l
g to equity
dispos invest
al of ment
invest in
ment subsidi
ary
Sihui
Sheng
yuan
Agricu 20,300 Feb. Transf
100.00 Transf 4,954,
ltural ,541.5 13, er of
% er 893.96
Develo 8 2023 control
pment
Co.,
Ltd.
Gaomi
Liuhe
Feb. Transf -
Pig 6,350, 100.00 Transf
24, er of 4,778,
Farmin 000.00 % er
2023 control 315.16
g Co.,
Ltd.
Santai
New
Hope
Farmin
g 39,345 May Transf
100.00 Transf 2,361,
Financ ,000.0 10, er of
% er 062.55
ing 0 2023 control
Guara
ntee
Co.,
Ltd.
Other remarks:
Whether there were any circumstances in which the company lost control in the current period through multi-transaction, step-by-
step disposal of investment in subsidiaries
□yes no
2. Changes in the scope of consolidation for other reasons
Remarks on changes in the scope of consolidation caused by other reasons (for example, establishment of new subsidiaries,
liquidation of subsidiaries etc.) and related information:
(1) New subsidiaries established in the current period
Name of subsidiary Ending net profits Current net profits
Wuhan Fenglan Animal Nutrition
1,817,581.90 -182,418.10
Technology Co., Ltd.
Qiandongnan Xinnong Technology
621,934,339.59 194,066.61
Co., Ltd.
Liaocheng New Hope Liuhe Down
19,372,489.13 -627,510.87
Co., Ltd.
Heze New Hope Liuhe Down Co., -109,919.92 -109,919.92
410
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ltd.
Qingdao Xinmu Zhikang
-89,661.64 -89,661.64
Biotechnology Co., Ltd.
(2) Subsidiaries deregistered in the current period
Net assets at the Net profits from beginning of the
Name of subsidiary
deregistration date period to the deregistration date
Gaoqing Liuhe Longda Feed Co., Ltd. -3,752,422.54 131,834.88
Zhenjiang Hongjing Agricultural
- -
Technology Co., Ltd.
Anshan Xinliu Breeding Poultry Co.,
- -
Ltd.
Jiuquan New Hope Farming Technology
- -
Co., Ltd.
Panjin New Hope Liuhe Breeding
- -
Poultry Co., Ltd.
Xiao County Datun Breeding Co., Ltd. -3,100,799.85 -
Lhasa New Hope Farming Technology
-8,400,121.33 31,466.36
Co., Ltd.
Wushan County New Hope Swine
-9,616,240.41 -2,656,240.41
Breeding Technology Co., Ltd.
Hubei Xinliu Breeding Co., Ltd. -5,331,320.35 -16,461.15
Guilin Gongcheng Xinyue Farming
516,822.90 -2,485,635.04
Technology Co., Ltd.
Langfang Xinliu Farming Technology
-38,838,508.27 -3,854,158.98
Co., Ltd.
Ruzhou New Hope Liuhe Feed Co., Ltd. -95,899.07 -95,163.12
3. Others
None
IX. Equities in other entities
1. Equities in subsidiaries
(1) Composition of the business group
Principal Shareholding ratio
Place of Way of
Name of subsidiary place of Nature of business
registration Direct Indirect acquisition
business
Business
combination
Shandong New Hope Liuhe Group Co., Qingdao, Qingdao, Feeds, veterinary
90.74% under
Ltd. Shandong Shandong drugs
common
control
Business
combination
Qingdao, Qingdao, Production and
New Hope Liuhe Feed Co., Ltd. 24.00% 76.00% under
Shandong Shandong sale of feeds
common
control
Business
Sichuan New Hope Liuhe Farming Co., Chengdu, Chengdu, Feed sale, combination
60.14% 14.76%
Ltd Sichuan Sichuan investment under
common
411
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control
Established
New Hope Singapore Pte. Ltd. Singapore Singapore Trade, investment 100.00% by
investment
Established
New Hope International Holdings (Pte.)
Singapore Singapore Trade, investment 100.00% by
Ltd.
investment
Livestock Established
Beijing New Hope Liuhe Biotechnology
Lhasa, Tibet Lhasa, Tibet breeding, 99.00% 1.00% by
Industry Group Co., Ltd.
investment investment
Established
New Hope Liuhu Food Holdings Co., Chengdu,
Lhasa, Tibet Investment, R&D 100.00% by
Ltd. Sichuan
investment
Business
Yangling Yangling Livestock combination
Yangling Besun Agricultural Industry
District, District, breeding, 50.79% 15.48% not under
Group Co., Ltd.
Shaanxi Shaanxi slaughtering common
control
Established
Guanghan, Guanghan, Production and
Guanghan Guoxiong Feed Co., Ltd. 100.00% by
Sichuan Sichuan sale of feeds
investment
Established
Emeishan New Hope Liuhe Feed Co., Leshan, Leshan, Production and
100.00% by
Ltd. Sichuan Sichuan sale of feeds
investment
Established
Guangyuan New Hope Liuhe Farming Guangyuan, Guangyuan, Livestock
100.00% by
Technology Co., Ltd. Sichuan Sichuan breeding
investment
Established
Mianyang New Hope Liuhe Farming Mianyang, Mianyang, Production and
100.00% by
Technology Co., Ltd. Sichuan Sichuan sale of feeds
investment
Established
Chongqing Tongliang New Hope Liuhe Tongling, Tongling, Production and
100.00% by
Farming Technology Co., Ltd. Chongqing Chongqing sale of feeds
investment
Established
Wulong New Hope Liuhe Feed Co., Wulong, Wulong, Production and
100.00% by
Ltd. Chongqing Chongqing sale of feeds
investment
Established
Kunming New Hope Agricultural Kunming, Kunming, Production and
100.00% by
Technology Co., Ltd. Yunan Yunan sale of feeds
investment
Business
combination
Qujing, Qujing, Production and
Qujing Guoxiong Feed Co., Ltd. 90.00% 10.00% under
Yunnan Yunnan sale of feeds
common
control
Dehong Dehong Established
Mangshi New Hope Farming Production and
Prefecture, Prefecture, 100.00% by
Technology Co., Ltd. sale of feeds
Yunnan Yunnan investment
Established
Kunming New Hope Animal Nutritious Kunming, Kunming, Production and
100.00% by
Food Co., Ltd. Yunan Yunan sale of feeds
investment
Business
combination
Zunyi, Zunyi, Production and
Zunyi Jiahao Feed Co., Ltd. 100.00% under
Guizhou Guizhou sale of feeds
common
control
Zunyi New Hope Liuhe Agricultural Zunyi, Zunyi, Production and Established
100.00%
Technology Co., Ltd. Guizhou Guizhou sale of feeds by
412
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
investment
Established
Haikou, Haikou, Livestock
Hainan New Hope Agriculture Co., Ltd. 100.00% by
Hainan Hainan breeding
investment
Established
Taizhou New Hope Agriculture Co., Taizhou, Taizhou, Production and
100.00% by
Ltd. Jiangshu Jiangshu sale of feeds
investment
Established
Production and
Lhasa New Hope Industrial Co., Ltd. Lhasa, Tibet Lhasa, Tibet 55.00% by
sale of feeds
investment
Established
Beijing New Hope Farming Technology Production and
Beijing Beijing 75.00% 25.00% by
Co., Ltd. sale of feeds
investment
Established
Production and
Hebei New Hope Feed Co., Ltd. Xinji, Hebei Xinji, Hebei 100.00% by
sale of feeds
investment
Established
Baoji, Baoji, Production and
Baoji New Hope Farming Co., Ltd. 100.00% by
Shaanxi Shaanxi sale of feeds
investment
Established
Xianyang, Xianyang, Production and
Sanyuan New Hope Feed Co., Ltd. 100.00% by
Shaanxi Shaanxi sale of feeds
investment
Established
Wuzhou New Hope Liuhe Feed Co., Wuzhou, Wuzhou, Production and
100.00% by
Ltd. Guangxi Guangxi sale of feeds
investment
Established
Guangxi New Hope Liuhe Breeding Nanning, Nanning, Livestock
100.00% by
Co., Ltd. Guangxi Guangxi breeding
investment
Established
Yongzhou New Hope Liuhe Feed Co., Yongzhou, Yongzhou, Production and
100.00% by
Ltd. Hunan Hunan sale of feeds
investment
Established
Huaihua New Hope Liuhe Feed Co., Huaihua, Huaihua, Production and
100.00% by
Ltd. Hunan Hunan sale of feeds
investment
Established
Huanggang New Hope Feed Huanggang, Huanggang, Production and
100.00% by
Technology Co., Ltd. Hubei Hubei sale of feeds
investment
Established
Yingtan, Yingtan, Production and
Yingtan New Hope Feed Co., Ltd. 100.00% by
Jiangxi Jiangxi sale of feeds
investment
Established
Ningxia New Hope Ruminant Animal Qingtongxia, Qingtongxia, Production and
100.00% by
Nutritious Food Co., Ltd. Ningxia Ningxia sale of feeds
investment
Established
Xiangyang New Hope Liuhe Feed Co., Xiangyang, Xiangyang, Production and
100.00% by
Ltd. Hubei Hubei sale of feeds
investment
Established
Guangzhou, Guangzhou, Production and
Guangzhou Liuhe Feed Co., Ltd. 61.00% by
Guangdong Guangdong sale of feeds
investment
Production and Established
Leshan, Leshan,
Sichuan Xinle Plastics Co., Ltd. sale of woven 100.00% by
Sichuan Sichuan
bags investment
Established
Jiangsu Tiancheng Healthcare Products Hai’an Hai’an Production and
51.00% by
Co., Ltd. Jiangsu Jiangsu sale of additives
investment
Yunnan New Hope Liuhe Breeding Co., Kunming, Kunming, Livestock Established
100.00%
Ltd. Yunan Yunan breeding by
413
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
investment
Established
Tibet Linzhi New Hope Liuhe Breeding Livestock
Linzhi, Tibet Linzhi, Tibet 60.00% by
Co., Ltd. breeding
investment
Business
combination
Shandong Qinwang Breeding Qingdao, Qingdao, Consulting,
80.00% not under
Consulting Co., Ltd. Shandong Shandong services
common
control
Established
Qingdao Feidake Food Technology Co., Qingdao, Qingdao,
Investment 70.00% by
Ltd. Shandong Shandong
investment
Engineering Established
Qingdao Xinhang Engineering Qingdao, Qingdao,
project 100.00% by
Management Co., Ltd. Shandong Shandong
management investment
Established
Golden Oak Investment Holdings
Tianjin Tianjin Trade 100.00% by
(Tianjin) Co., Ltd.
investment
Established
Tianjin Dingcheng Zhizi Investment
Tianjin Tianjin Investment 100.00% by
Co., Ltd.
investment
Established
New Hope Liuhe Investment Co., Ltd. Shanghai Lhasa, Tibet Investment 75.00% by
investment
Business
combination
Chengdu, Chengdu, Production and
Chengdu Fenglan Technology Co., Ltd. 75.00% not under
Sichuan Sichuan sale of additives
common
control
Established
Xiaogan, Xiaogan, Processing and
Wuhan Liuhe Food Co., Ltd. 55.00% by
Hubei Hubei sale of poultry
investment
Established
Sichuan New Hope Liuhe Chengdu, Chengdu, Testing,
100.00% by
Technological Innovation Co., Ltd. Sichuan Sichuan consulting
investment
Established
Sichuan New Hope Animal Nutrition Chengdu, Chengdu, Purchase and sale
100.00% by
Technology Co., Ltd. Sichuan Sichuan of feed ingredients
investment
Established
Qingdao Xinmu Zhihe Technology Co., Qingdao, Qingdao, Manufacture and
20.00% 80.00% by
Ltd. Shandong Shandong sale of machinery
investment
Established
Xintai, Xintai, Production and
Xintai New Hope Feed Co., Ltd. 24.00% 76.00% by
Shandong Shandong sale of feeds
investment
Established
Guangdong Jiahao Agricultural Guangzhou, Guangzhou, Production and
100.00% by
Products Co., Ltd. Guangdong Guangdong sale of feeds
investment
Tianjin Yunxiang Enterprise Enterprise Established
Tianjin Free Tianjin Free
Management Consulting Partnership management 19.99% 0.03% by
Trade Zone Trade Zone
(LP) consulting investment
Established
Xiamen New Hope Liuhe Agricultural Xiamen, Xiamen, Handling and
80.00% 20.00% by
Supply Chain Co., Ltd. Fujian Fujian warehousing
investment
Remarks on shareholding ratio in subsidiary different from the ratio of voting power:
414
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Apart from the aforesaid subsidiaries, the company has 696 subsidiaries indirectly controlled by it, which are mainly located in 30
Chinese provinces and municipalities, countries in Southeast Asian and South Africa, dealing with feed production, breeding and
slaughtering, etc.
Basis of control of invested entity while holding half or less of voting power and of non-control of invested entity while holding
half or more of voting power:
Basis of control for important structured entities included in the scope of consolidation:
Basis for determining whether the company is an agent or a client:
Other remarks:
(2) Major non-wholly owned subsidiaries
Unit: yuan
Current dividends
Shareholding
Current profit or loss declared and
ratio of Ending balance of
Name of subsidiary attributable to minority distributed to
minority miniority interests
shareholders minority
shareholders
shareholders
New Hope Liuhe Investment Co., Ltd. 25.00% 248,298,645.37 5,788,948,811.31
Shandong New Hope Liuhe Group Co.,
9.26% -38,723,132.10 70,290,277.78 983,436,365.50
Ltd.
Remarks on shareholding ratio of minority shareholders in subsidiaries different from ratio of voting power:
Other remarks:
(3) Key financial information of major non-wholly owned subsidiaries
Unit: yuan
Ending balance Beginning balance
Name
of Curren Non- Curren Non-
Non- Total Non- Total
subsidi Curren Total t current Curren Total t current
current liabiliti current liabiliti
ary t assets assets liabiliti liabiliti t assets assets liabiliti liabiliti
assets es assets es
es es es es
New
Hope
Liuhe 783,90 22,372 23,155 392,21 21,664 22,057
124,54 124,54
Invest 0,073. ,019,7 ,919,7 0.00 9,385. ,939,8 ,159,1
2.57 2.57
ment 58 14.25 87.83 34 03.44 88.78
Co.,
Ltd.
Shand
ong
New
20,497 8,000, 28,498 18,153 3,549, 21,703 16,823 7,942, 24,765 13,825 3,931, 17,756
Hope
,823,6 373,71 ,197,4 ,937,9 108,69 ,046,5 ,348,3 229,07 ,577,4 ,220,8 548,53 ,769,4
Liuhe
97.43 2.81 10.24 03.41 1.13 94.54 33.13 0.21 03.34 98.06 1.01 29.07
Group
Co.,
Ltd.
Unit: yuan
Name of Current amount Amount of the previous period
subsidiary Business Net profits Total Cash flows Business Net profits Total Cash flows
415
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
revenue comprehen from revenue comprehen from
sive operating sive operating
income activities income activities
New Hope
Liuhe 993,194,58 1,098,636,0 1,029,044,8 982,650,61
0.00 415,381.05 0.00 186,620.16
Investment 1.48 56.48 62.16 3.16
Co., Ltd.
Shandong
New Hope - - - - -
33,406,258, 31,991,957, 58,979,195.
Liuhe 112,767,67 112,226,17 799,664,29 460,234,22 459,449,67
188.16 028.41 41
Group Co., 7.66 0.77 0.18 8.61 3.43
Ltd.
Other remarks:
Note: given the business combination under common control of Shandong New Hope Liuhe Group Co., Ltd. in the current period,
the relevant statements have been restated to include the assets, liabilities, net profit and comprehensive income of the merged
company.
2. Transactions in which the company’s share of owner’s equity in a subsidiary changes but the company
still controls the subsidiary
(1) Remarks on changes in the share of owner’s equity in a subsidiary
Shareholding Shareholding Whether the
before change (%) after change (%) shareholdin
g change
Equity
resulted in
Name of subsidiary purchase
Indirec Direc Indirec loss of
Direct date
t t t control of
the
company
78.7
Shandong New Hope Liuhe Group Co., Ltd. 90.74 No Jan. 2023
0
Xuwen Xinhao Farming Co., Ltd. 63.36 81.68 No Feb. 2023
Mar.
Qiandongnan Xinnong Technology Co., Ltd. 100.00 68.00 No
2023
Mar.
Fenxi New Hope Liuhe Food Co., Ltd. 100.00 100.00 No
2023
Datong New Hope Liuhe Farming Co., Ltd. 100.00 100.00 No Apr. 2023
Sichuan New Hope Agricultural Development Partnership
28.97 51.40 No May 2023
(LP)
Note: the shareholding of 100% to 100% in the above table is the transfer from a subsidiary directly or
indirectly controlled by the company to another subsidiary directly or indirectly controlled by the company in
which the company has a different equity ratio, resulting in changed capital reserve of the company due to the
different equity ratios of the company before and after the equity change.
(2)Effect of such transaction on minority equity and owner's equity attributable to the parent company
Unit: yuan
Sichuan New
Qiandongnan Datong New
Shandong New Xuwen Xinhao Fenxi New Hope
Xinnong Hope Liuhe
Hope Liuhe Farming Co., Hope Liuhe Agricultural
Technology Farming Co.,
Group Co., Ltd. Ltd. Food Co., Ltd. Development
Co., Ltd. Ltd.
Partnership
416
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
(LP)
Purchase -
- -
cost/disposal 1,300,000,000. 200,000,000.00
500,000,000.00 297,000,000.00
consideration 00
-
- -
--Cash 1,300,000,000. 200,000,000.00
500,000,000.00 297,000,000.00
00
--Fair value of
non-cash assets
Total of
purchase
cost/disposal
consideration
Minus: share of
net assets in
subsidiary
calculated at -
735,799,414.94 375,845,641.67 198,097,115.87
the 267,288,281.47
shareholding
acquired/dispos
ed of
- - -
Difference 1,902,884.13 186,655.83 -14,009.02
564,200,585.06 124,154,358.33 564,288,281.47
Wherein:
- - -
capital reserve 1,902,884.13 -186,655.83 14,009.02
564,200,585.06 124,154,358.33 564,288,281.47
adjustment
Adjustm
ent to surplus
reserve
Adjustm
ent to
undistributed
profits
Other remarks
3. Equities in joint ventures or affiliates
(1) Important joint ventures or affiliates
Nature Shareholding ratio
Principal Place of Accounting treatment method for
Name of joint venture or of
place of registratio Indire investments in joint ventures or
associate busine Direct
business n ct affiliates
ss
Financ
China Minsheng Bank Beijing Beijing 4.18% Equity method
e
Chengdu, Chengdu, Financ
New Hope Finance Co., Ltd. 34.00% 6.00% Equity method
Sichuan Sichuan e
Remarks on shareholding ratio in joint ventures or affiliates different from voting power:
None
417
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Basis for holding less than 20% voting power but with significant influence or holding 20% or more voting power but without
significant influence:
A majority-owned subsidiary New Hope Liuhe Investment Co., Ltd. holds 1,828,327,362 shares in China Minsheng Bank, or a
shareholding ratio of 4.1759%, in which the director and actual controller of the company Mr. Liu Yonghao acts as a director; the
company has the power to participate in financial and business decision making of China Minsheng Bank and this investment is
accounted for using the equity method since the company has significant influence over China Minsheng Bank.
(2) Key financial information of Important affiliates
Unit: yuan
Ending balance/current amount Beginning balance/amount of the previous period
New Hope Finance New Hope Finance
China Minsheng Bank China Minsheng Bank
Co., Ltd. Co., Ltd.
Current assets 732,567,000,000.00 5,870,712,611.84 1,060,816,000,000.00 7,068,043,485.24
Non-current assets 6,887,623,000,000.00 7,866,226,686.67 6,194,857,000,000.00 9,465,480,312.06
Total assets 7,620,190,000,000.00 13,736,939,298.51 7,255,673,000,000.00 16,533,523,797.30
Current liabilities 6,323,966,000,000.00 10,091,966,051.73 5,952,312,000,000.00 13,061,388,238.45
Non-current liabilities 669,533,000,000.00 7,023,999.38 690,547,000,000.00 7,404,610.27
Total liabilities 6,993,499,000,000.00 10,098,990,051.11 6,642,859,000,000.00 13,068,792,848.72
Minority interests 108,234,000,000.00 107,848,000,000.00
Shareholder equity
attributable to the 518,457,000,000.00 3,637,949,247.40 504,966,000,000.00 3,516,936,558.81
parent company
Share of net assets
calculated at 21,650,245,863.00 1,455,179,698.96 21,086,875,194.00 1,406,774,623.52
shareholding ratio
Adjustments
--Goodwill
--Profits unrealized
through internal
transactions
--Others
Book value of equity
investments in 22,356,991,895.98 1,455,179,698.96 21,649,911,985.17 1,406,774,623.52
affiliates
Fair value of equity
investments in
6,856,227,607.50 6,307,609,256.10
affiliates for which
there are public offers
Business revenue 71,539,000,000.00 281,027,275.94 74,199,000,000.00 279,188,968.01
Net profits 23,972,000,000.00 121,012,688.55 24,884,000,000.00 60,794,542.99
Net profit from
discontinued
operations
Other comprehensive
2,721,000,000.00 -938,000,000.00 26,769.74
income
418
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Total comprehensive
26,693,000,000.00 121,012,688.55 23,946,000,000.00 60,821,312.73
income
Dividends received
from affiliates in this 391,265,307.19 0.00 389,433,782.83 280,000,000.00
year
Other remarks
(3) Summary financial information of unimportant joint ventures and affiliates
Unit: yuan
Beginning balance/amount of the
Ending balance/current amount
previous period
Joint ventures:
Total book value of investments 1,381,626,711.46 1,831,480,208.48
Total amount of each of the following
items calculated by shareholding ratio
--Net profits -43,628,365.66 -49,892,217.37
--Other comprehensive income 0.00 0.00
--Total comprehensive income -43,628,365.66 -49,892,217.37
Affiliates:
Total book value of investments 1,318,625,091.86 1,367,934,703.94
Total amount of each of the following
items calculated by shareholding ratio
--Net profits 18,734,855.52 13,499,003.10
--Other comprehensive income 0.00 0.00
--Total comprehensive income 18,734,855.52 13,499,003.10
Other remarks
(4) Remarks on significant restrictions on the ability of joint ventures or affiliates to transfer funds to the
company
There were no significant restrictions on the ability of joint ventures or affiliates to transfer funds to the company.
(5) Excess losses incurred by joint ventures or affiliates
Unit: yuan
Accumulation of Losses unrecognized in this
Name of joint venture or Accumulated unrecognized
unrecognized prior period (or net profits shared
associate losses at the end of this period
accumulated losses in this period)
Nanjing Heda Food Co., Ltd. -1,636,440.11 -1,636,440.11
Taishan Jiaxin Logistics Co., Ltd. -1,480,161.42 -258,247.14 -1,738,408.56
Beijing Meihao Meideling Food
-5,311,036.47 -14,962,380.04 -20,273,416.51
Co., Ltd.
Other remarks
419
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(6) Unrecognized commitments related to investments in joint ventures
The company had no unrecognized commitments related to investments in joint ventures.
(7) Contingent liabilities related to investments in joint ventures or affiliates
The company had no contingent liabilities related to investments in joint ventures or affiliates.
X. Risks related to financial instruments
The main financial instruments of the company include monetary capital, accounts receivable, notes receivable, other
receivables, other current assets, held-for-trading financial assets, accounts payable, notes payable, other payables, lease liabilities,
short-term borrowings, held-for-trading financial liabilities, non-current liabilities due in 1 year, other current liabilities, long-term
borrowings, long-term payables and bonds payable. Details of all financial instruments have been disclosed in related notes. To
reduce risks related to financial instruments, the company formulated corresponding risk management policies and set up
corresponding jobs or functional departments in order to ensure its risk management objectives and policies are effectively carried
out; the management manages and monitors these risk exposures to ensure the aforesaid risks are controlled within a specified
scope.
(I) Credit risk
Credit risk refers to a risk that the non-performance by a party to the financial instrument of its obligations might cause
financial risks to the company. The credit risk to the company mainly originates from monetary capital and accounts receivable,
etc.
To reduce the credit risk, the company controls credit line, performs credit approval and executes other monitoring
procedures to ensure necessary measures are taken to recover overdue claims. In addition, the company sufficiently provides for
expected credit loss based on the collection of accounts receivable at each balance sheet date. Therefore, the company’s
management believes the credit risk to the company has been significantly reduced.
Monetary capital other than cash of the company is mainly deposited with state-owned banks or other medium and large-
sized listed banks or other financial institutions with good credit standing, so the company believes there is no material credit risk
to it, which is expected to cause losses to the company due to default of the counterparty.
(II) Market risk
The market risk of financial instruments refers to the risk that the fair value or future cash flow of financial instruments might
fluctuate as a result of changing market prices, including the exchange rate risk, interest rate risk etc.
1. Interest rate risk
Interest rate risk refers to the risk that fair value of financial instruments or future cash flow might fluctuate due to changing
market interest rates. Fixed-rate and floating-rate interest-bearing financial instruments pose fair value interest rate risk and cash
flow interest rate risk to the company respectively. The company determines the ratios of fixed-rate and floating-rate instruments
based on market environment and maintains an appropriate portfolio of fixed-rate and floating-rate instruments through regular
review and monitoring. The company mainly faces cash flow interest rate risk resulting from floating-rate financial liabilities.
(1) The floating-rate financial liabilities held by the company as of June 30 were as follows:
Jun. 2023 2022
Item Effective interest Effective interest
Amount Amount
rate rate
Financial liabilities
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Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Wherein: short-term borrowings 1.25%-33.25% 17,997,266,231.04 2.65%-24.15% 13,359,392,691.44
Long-term borrowings (including
2.15%-6.72% 38,951,809,640.02 2.17%-6.30% 38,341,849,044.99
those due in 1 year)
Total 56,949,075,871.06 51,701,241,736.43
(2) Sensitivity analysis
As of June 30, 2023, with other variables held constant, a 25bp increase in interest rate will result in the company’s net profits
and owner’s equity decreased by 103,424,189.19 yuan (in 2022: decrease of 98,260,298.09 yuan)
For the floating-rate non-derivative instruments held at the balance sheet date that cause the company to face cash flow
interest rate risk, the effect of net profits and ownership interest in the aforesaid sensitivity analysis is after-tax effect of the
aforesaid interest rate change on interest expense or revenue estimated by year. The analysis of the previous year was based on the
same assumptions and method.
2. Foreign exchange risk
The company invests and operates in several Asian, African and European countries, with revenues all denominated in local
currencies, but the fluctuations of the exchange rates between these currencies and RMB will affect the figures of overseas revenue
and profits of the company. For monetary capital, receivables and payables, long-term and short-term borrowings and other
foreign-currency assets and liabilities that are not denominated in accounting currency, if short-term imbalance occurs, the
company will purchase and sell foreign currencies at market rates when necessary in order to ensure the net risk exposure is kept at
an acceptable level.
(1) The items of foreign-currency assets and liabilities of the company as of June 30 were as follows. For presentation
purpose, the total amount of risk exposure is presented in RMB converted from foreign currencies at the spot exchange rate at the
balance sheet date. The foreign currency statement translation difference is not included.
Jun. 2023 2022
Item Balance in foreign Balance in RMB Balance in foreign Balance in RMB
currency converted currency converted
Monetary capital
Wherein: USD 6,386,361.84 46,146,573.41 8,575,694.74 59,726,283.59
SGD 614,765.97 3,285,432.31 316,746.68 1,641,729.72
THB 1,936,638.36 393,978.02 1,477,597.39 297,620.68
IDR 1,391,017,200.00 669,816.49 1,749,464,630.73 775,082.81
VND 20,618,965,200.00 6,259,505.46
HKD 2,093,162.68 1,929,854.13
Accounts receivable
Wherein: USD 1,729,116.92 12,494,253.04 312,365.25 2,175,499.02
HKD 20,335,789.87 18,749,191.54
Other receivables
Wherein: USD 35,715.87 258,075.73
SGD 5,365.85 28,676.17
HKD 124,292.25 114,594.97
Accounts payable
Wherein: USD 8,003,199.15 57,829,516.42 4,725,545.84 32,911,536.56
SGD 383,569.40 2,049,871.59 659,305.67 3,417,247.22
VND 29,033,697,900.00 8,814,050.02
HKD 416,202.99 383,730.83
Other payables
Wherein: USD 41,821.73 302,195.48 48,533.17 338,014.12
SGD 995.94 5,322.52 16,561.58 85,840.33
421
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Net amount of foreign-
curency items in balance sheet
Wherein: USD 106,173.75 767,190.28 4,113,980.98 28,652,231.93
SGD 235,566.48 1,258,914.37 -359,120.57 -1,861,357.83
THB 1,936,638.36 393,978.02 1,477,597.39 297,620.68
IDR 1,391,017,200.00 669,816.49 1,749,464,630.73 775,082.81
VND -8,414,732,700.00 -2,554,544.56
HKD 22,137,041.81 20,409,909.81
(2) The analysis of RMB/foreign currency exchange rate applicable to the company is as follows:
Average exchange rate in the reporting
Ending central parity rate
Item period
2023 2022 2023 2022
USD 6.94755000 6.73270000 7.22580000 6.96460000
SGD 5.19594167 4.88260000 5.34420000 5.18310000
THB 0.20259181 0.19204138 0.20343397 0.20142204
IDR 0.00046146 0.00045392 0.00048153 0.00044304
VND 0.00029371 0.00030358
HKD 0.88625417 0.92198000
(3) Sensitivity analysis
Assuming risk variables other than exchange rate remain unchanged, a 5% RMB appreciation due to changes in exchange
rates of RMB and accounting currencies of overseas operating entities of the company versus USD, SGD, THB, IDR, VDN and
HKD as of June 30 will result in increase (decrease) in owner’s equity and net profits as follows (with 25% income tax). This
effect is presented in RMB converted at the spot exchange rate at the balance sheet date:
Item Ownership interest Net profits
Jun. 30, 2023
USD -28,769.64 -28,769.64
SGD -47,209.29 -47,209.29
THB -14,774.18 -14,774.18
IDR -25,118.12 -25,118.12
VND 95,795.42 95,795.42
HKD -765,371.62 -765,371.62
Total -785,447.43 -785,447.43
Dec. 31, 2022
USD -1,074,458.70 -1,074,458.70
SGD 69,800.92 69,800.92
THB -11,160.78 -11,160.78
IDR -29,065.61 -29,065.61
Total -1,044,884.17 -1,044,884.17
As of June 30, assuming other variables remain unchanged, a 5% RMB depreciation due to changes in exchange rates of
RMB and accounting currencies of overseas operating entities of the company versus USD, SGD, THB, IDR VDN and HKD will
result in changes in owner’s equity and net profits in the same amount as those presented in the above table but in the opposite
direction.
The aforesaid sensitivity analysis is derived from re-measurement of financial instruments held by the company and facing
exchange rate risk at the balance sheet date with the changed exchange rate, assuming the exchange rate changes at the balance
sheet date. The aforesaid analysis doesn’t include foreign currency statement translation difference. The analysis of the previous
year was based on the same assumptions and method.
3. Liquidity risk
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Liquidity risk refers to the risk that a company might incur shortage of funds when performing its obligation to settle accounts
by delivering cash or other financial assets. It is the policy of the company to ensure it has sufficient cash to repay the debts when
due. The liquidity risk is centrally controlled by the finance department of the company. The finance department ensures the
company has sufficient funds to repay its debts in all reasonably predicted circumstances by monitoring the cash balance and
readily realizable valuable securities and through rolling forecast of cash flow in the next 12 months.
The remaining contract terms and the earliest dates of required payment of financial liabilities of the company at the balance
sheet date by the undiscounted contractual cash flows (including interest calculated at contract interest rate (or at the prevailing
interest rate on June 30 in case of floating interest rate)) are as follows:
Undiscounted contractual cash flows at the end of reporting period Book value on
Item Due in 1 year or balance sheet
1-2 years 2-5 years Over 5 years Total
on demand date
Short-
term
borrowing 18,163,123,612.7 18,163,123,612.7 17,997,266,231.0
s 7 7 4
Notes
payable 4,532,396,707.28 4,532,396,707.28 4,532,396,707.28
Accounts 10,310,425,622.2 10,310,425,622.2 10,310,425,622.2
payable 5 5 5
Other
payables
(excludin
g interest
payable
and
dividends
payable) 4,648,287,972.39 4,648,287,972.39 4,648,287,972.39
Long-
term
borrowing
s
(including
long-term
borrowing
s due in 1 14,259,381,482.9 10,126,703,122.8 15,870,109,263.4 1,713,390,798.8 41,969,584,668.1 38,951,809,640.0
year) 1 2 9 9 1 2
Bonds
payable
(including
bonds
payable
due in 1 12,246,794,699.4 10,367,684,524.7
year) 2,176,217,956.67 608,591,399.34 9,461,985,343.45 - 6 1
Long-
term
payables
(including
long-term
payables
due in 1
year) 218,602,888.43 215,737,531.58 133,326,197.64 - 567,666,617.65 539,364,203.32
Lease
liabilities
(including
lease
liabilities
due in 1 4,935,314,325.9
year) 665,924,818.87 676,209,434.06 1,449,508,952.57 4 7,726,957,531.44 5,010,727,309.39
54,974,361,061.5 11,627,241,487.8 26,914,929,757.1 6,648,705,124.8 100,165,237,431. 92,357,962,210.4
Total
7 0 5 3 35 0
Continued table
423
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Undiscounted contractual cash flows at the beginning of period Balance sheet
Item Due in 1 year or date
1-2 years 2-5 years Over 5 years Total
on demand Book value
Short-
term 13,433,378,000.8 13,433,378,000.8 13,359,392,691.4
borrowing 0 0 4
s
Notes
2,732,895,395.82 2,732,895,395.82 2,732,895,395.82
payable
Accounts 11,564,714,386.8 11,564,714,386.8 11,564,714,386.8
payable 6 6 6
Other
payables
(excluding
interest
4,713,876,319.05 4,713,876,319.05 4,713,876,319.05
payable
and
dividends
payable)
Long-term
borrowing
s
(including 12,125,092,930.0 12,707,679,253.8 14,353,424,233.6 2,439,423,248.8 41,625,619,666.3 38,341,849,044.9
long-term 6 0 4 9 9 9
borrowing
s due in 1
year)
Bonds
payable
(including
14,457,144,747.7 12,253,616,088.4
bonds 2,226,749,855.30 2,288,605,897.67 9,941,788,994.81
8 1
payable
due in 1
year)
Long-term
payables
(including
long-term 129,243,747.94 107,554,393.76 64,175,685.32 300,973,827.02 286,098,485.67
payables
due in 1
year)
Lease
liabilities
(including
5,162,063,215.9
lease 715,489,810.93 711,582,949.80 1,576,014,699.75 8,165,150,676.41 5,285,779,759.53
3
liabilities
due in 1
year)
47,641,440,446.7 15,815,422,495.0 25,935,403,613.5 7,601,486,464.8 96,993,753,020.1 88,538,222,171.7
Total 6 3 2 2 3 7
Note: the convertible corporate bonds in the bonds payable are deemed as held to maturity without conversion into shares halfway.
XI. Disclosure of fair value
1. Ending fair value of assets and liabilities measured at fair value
Unit: yuan
Ending fair value
Item Level 1 fair value Level 2 fair Level 3 fair value
Total
measurement value measurement
424
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measurement
I. Continuous measurement of fair value -- -- -- --
(I) Held-for-trading financial assets 77,510,307.04 77,510,307.04
1. Financial assets at fair value through
77,510,307.04 77,510,307.04
profit or loss
(1) Investment in debt instruments 0.00
(2) Investments in equity instruments 0.00
(3) Derivative financial assets 77,510,307.04 77,510,307.04
(III) Investments in other equity
315,248,826.38 315,248,826.38
instruments
Total assets continuously measured at fair
77,510,307.04 315,248,826.38 392,759,133.42
value
(VI) Held-for-trading financial liabilities 18,749,771.39 18,749,771.39
Wherein: trading bonds issued 0.00
Derivative financial liabilities 18,749,771.39 18,749,771.39
Others 0.00
(VII) Financial liabilities desiganted as
0.00
measured at fair value through profit or loss
Total liabilities continuously measured at
18,749,771.39 18,749,771.39
fair value
II. Non-continuous measurement of fair
-- -- -- --
value
2. Basis for determination of market prices of continuous and non-continuous level 1 fair value
measurement items
The derivative financial assets in the held-for-trading financial assets are futures contracts and interest rate
swaps purchased, which are recognized based on the ending quotations provided by futures trading centers and
others.
3. Qualitative and quantitative information about valuation techniques and important parameters used
for continuous and non-continuous level 3 fair value measurement items
The other equity instrument investments of the company involved in level 3 fair value measurement are equities
held by the company in unlisted companies. There were no significant changes in the operating environments,
business condition and financial condition of invested entities, so the company measures at investment cost as
the reasonable estimate of fair value.
XII. Related parties and related-party transactions
1. The parent company of the company
Shareholding of
Ratio of voting power held
Name of the parent Place of Nature of the parent
Registered capital by the parent company in
company registration business company in the
the company
company
New Hope Group Co., Ltd. Chengdu Management 3,200,000,000.00 24.90% 24.90%
425
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R&D,
South Hope Industrial Co., Lhasa,
wholesale 1,034,313,725.00 29.28% 29.28%
Ltd. Tibet
and retail
Remarks on the parent company of the company
Note: the controlling shareholder of South Hope Industrial Co., Ltd., the largest shareholder of the company, is New Hope Group
Co., Ltd., the second largest shareholder of the company, so the controlling shareholder of the company is New Hope Group Co.,
Ltd., while the actual controller of New Hope Group Co., Ltd. is Liu Yonghao, therefore the ultimate actual controller of the
company is Liu Yonghao.
In accordance with the covenants on maintenance of guarantee ratio and additional guarantee mechanism specified in the
Prospectus for the Non-public Offering of Exchangeable Corporate Bonds (Phase I) of New Hope Group Limited to Professional
Investors in 2023, New Hope Group completed the guarantee and trust registration of the underlying shares at the Shenzhen
Branch of China Securities Depository and Clearing Co., Ltd. on March 17 and June 8, 2023, transferring 784,455,413.00 New
Hope shares (17.29% of the total share capital of the company) into the “New Hope - Topsperity Securities -23 Hope E1
Guarantee and Trust Property Special Account”, which is managed by the manager Topsperity Securities Co., Ltd., and the
registration period of the stock trust is the duration of the current exchangeable bonds. The registration of the guarantee and trust
causes no change to the controlling shareholder and the actual controller, so it does not constitute a tender offer.
The ultimate controlling party of the company is New Hope Group Co., Ltd.
Other remarks:
2. Subsidiaries of the company
The subsidiaries of the company are detailed in Note IX. 1. (1) “Composition of the business group”.
3. Joint ventures and affiliates of the company
The important joint ventures and affiliates of this company are detailed in Note VII. 9. “Long-term equity investments”.
Other joint ventures or affiliates that incurred related-party transactions with the company in the current period or formed balances
out of previous related-party transactions with the company are detailed as follows:
Name of joint venture or affiliate Relationship with the company
New Hope Finance Co., Ltd. Affiliate
Qianxinan Hope Farming Co., Ltd. Affiliate
Hebei Kinghey Sausage Casings Co., Ltd. Affiliate
Shanghai Liuhe Qinqiang Food Co., Ltd. Affiliate
Qingdao Big Herdsman Machinery Co., Ltd. Affiliate
Nanjing Heda Food Co., Ltd. Affiliate
Shandong Hypor Liuhe Breeding Co., Ltd. Affiliate
NHE (Beijing) Technology Co., Ltd. Affiliate
Anhui Antai Agricultural Development Co., Ltd. Affiliate
Anhui Xinhua Ducks Co., Ltd. Affiliate
Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd. Affiliate
Xinzhi Huide Machinery Technology Co., Ltd. Affiliate
Anhui Xinqiao Down Co., Ltd. Joint venture
Yan’an Xinyongxiang Technology Co., Ltd. Joint venture
Beijing Meihao Meideling Food Co., Ltd. Joint venture
Guangdong Hope No.1 Equity Investment Partnership (LP) Joint venture
Shenyang New Hope New Agricultural Industry Fund
Joint venture
Partnership (LP)
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Shandong Gongrong New Hope Equity Investment Fund
Joint venture
Partnership (LP)
Hainan Nongken New Hope Farming Technology Co., Ltd. Joint venture
Zhanjiang Guangken Xinhao Farming Co., Ltd. Joint venture
Other remarks
Note: the equity of Zhanjiang Guangken Xinhao Farming Co., Ltd. held by a subsidiary of the company will be transferred to
external unit in 2023.
4. Other related parties
Name of other related parties Relationship between other related parties and the company
Other subsidiaries controlled by New Hope Holding Group
Companies controlled by the same actual controller
Co., Ltd.
A company controlled by person acting in concert with the
Yunnan New Hope Xuelan Livestock Technology Co., Ltd.
ultimate controller
A company controlled by person acting in concert with the
Haiyuan New Hope Livestock Co., Ltd.
ultimate controller
A company controlled by person acting in concert with the
Shilin New Hope Xuelan Livestock Co., Ltd.
ultimate controller
A company controlled by person acting in concert with the
Yongchang New Hope Xuelan Livestock Co., Ltd.
ultimate controller
A company controlled by person acting in concert with the
Luliang New Hope Xuelan Cow Breeding Co., Ltd.
ultimate controller
A company controlled by person acting in concert with the
Yunnan New Hope Diequan Livestock Co., Ltd.
ultimate controller
A company controlled by person acting in concert with the
Wuzhong New Hope Livestock Co., Ltd.
ultimate controller
A company controlled by person acting in concert with the
Jingyuan New Hope Livestock Co., Ltd.
ultimate controller
New Hope Dairy Co., Ltd. and other majority-owned Companies controlled by persons acting in concert with the
subsidiaries ultimate controller
New Hope Property Service Group Co., Ltd. and its majority-
Companies controlled by the same actual controller
owned subsidiaries
Sichuan Xingong Shengfei Construction Engineering Co., Ltd. A company controlled by the same actual controller
A company controlled by an affiliate of the controlling
Beijing Porridge Jiahe Restaurant Management Co., Ltd.
shareholder
Sichuan New Hope Fresh Life Commercial Chain Co., Ltd. A company controlled by key management
Qingdao Fresh Life Technology Service Co., Ltd. A company controlled by the same actual controller
Sichuan Xinrong Nutrition Technology Co., Ltd. and its
Companies controlled by the same actual controller
majority-owned subsidiaries
Chengdu Yunlizhi Technology Co., Ltd. and its majority-
Companies controlled by the same actual controller
owned subsidiaries
Sichuan Chuanwazi Food Co., Ltd. A company controlled by the same actual controller
Sichuan Jixian Digital Intelligence Supply Chain Technology
A company controlled by the same actual controller
Co., Ltd.
Grass Green Group Co., Ltd. and other majority-owned
Companies controlled by the same actual controller
subsidiaries
Hangzhou Xingyuan Environmental Protection Equipment Co.,
A company controlled by the same actual controller
Ltd.
Xingyuan Environment Technology Co., Ltd. and other
Companies controlled by the same actual controller
majority-owned subsidiaries
Yunnan Xinlong Mineral Feed Co., Ltd. A company controlled by the same actual controller
Xinchuang Yunlian Industry Development Co., Ltd. A company controlled by the same actual controller
New Hope Chemical Investment Co., Ltd. and its majority- Companies controlled by the same actual controller
427
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owned subsidiaries
Sichuan New Hope Trade Co., Ltd. A company controlled by the same actual controller
Sichuan Huaxi Guoxing Real Estate Co., Ltd. A company controlled by the same actual controller
New Hope Cloud Selection (Chongqing) E-commerce Co., Ltd. A company controlled by key management
New Hope Cloud Selection Chengdu Supply Chain
A company controlled by key management
Management Co., Ltd. and its branch companies
Sichuan New Hope Industrial Co., Ltd. An affiliate of the actual controller
Chengdu New Hope Industrial Investment Co., Ltd. A company controlled by the same actual controller
Other remarks
5. Related-party transactions
(1) Related-party transactions of of purchase and sale of goods and provision and receipt of services
Statement of purchase of goods/receipt of services
Unit: yuan
Whether
the
Content of transacti
Transaction limit Amount of the
Related party related-party Current amount on limit
approved previous period
transaction was
exceede
d
Hangzhou Xingyuan Purchase of
Environmental Protection breeding 182,368.90 40,000,000.00 No 956,184.00
Equipment Co., Ltd. equipment
Xinzhi Huide Mechanical
Purchase of
Technology Co., Ltd. and
breeding 49,611,375.00 77,000,000.00 No 69,336,712.38
its majority-owned
equipment
subsidiaries
Sichuan Xinrong Nutrition
Technology Co., Ltd. and Purchase of
75,487,958.37 700,000,000.00 No 43,268,125.51
its majority-owned goods
subsidiaries
Sichuan Chuanwazi Food Purchase of
678,182.39 20,000,000.00 No 605,352.02
Co., Ltd. goods
Sichuan Jixian Digital
Purchase of
Intelligence Supply Chain 29,628,353.40 120,000,000.00 No 17,404,643.17
goods
Technology Co., Ltd.
Grass Green Group Co.,
Purchase of
Ltd. and other majority- 2,917,086.19 10,000,000.00 No 621,925.62
goods
owned subsidiaries
New Hope Dairy Co., Ltd.
Purchase of
and its majority-owned 47,910.12 2,000,000.00 No 270,480.77
goods
subsidiaries
Yunnan Xinlong Mineral Purchase of
7,037,254.94 1,000,000,000.00 No 51,397,301.76
Feed Co., Ltd. goods
Xinchuang Yunlian
Purchase of
Industry Development Co., 17,217,037.31 500,000,000.00 No 0.00
goods
Ltd.
Sichuan New Hope Trade Purchase of
1,670,195,744.84 3,200,000,000.00 No 1,314,224,511.11
Co., Ltd. goods
Other subsidiaries Purchase of
845,916.90 80,000,000.00 No 3,911,526.93
controlled by New Hope goods
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Holding Group Co., Ltd.
Qingdao Fresh Life Cold chain
Technology Service Co., transport 8,408,930.16 20,000,000.00 No 59,060,927.88
Ltd. services
Chengdu Yunlizhi
Cold chain
Technology Co., Ltd. and
transport 233,357,387.39 500,000,000.00 No 90,140,404.60
its majority-owned
services
subsidiaries
Grass Green Group Co., Cold chain
Ltd. and other majority- transport 6,115,135.35 50,000,000.00 No 8,343,312.92
owned subsidiaries services
Xingyuan Environment
Engineering
Technology Co., Ltd. and
construction 27,034,178.20 144,000,000.00 No 31,565,084.63
other majority-owned
services
subsidiaries
Sichuan Xingong Shengfei Engineering
Construction Engineering construction 2,750,193.47 100,000,000.00 No 48,058,592.05
Co., Ltd. services
New Hope Property Property
Service Group Co., Ltd. management
1,670,190.78 10,000,000.00 No 2,807,493.74
and its majority-owned and catering
subsidiaries services
Qingdao Big Herdsman
Machinery Co., Ltd. and its Purchase of
10,180,754.44 26,389,851.25
majority-owned goods
subsidiaries
Shanghai Liuhe Qinqiang Purchase of
163,517.44 135,186.12
Food Co., Ltd. goods
Shandong Hypor Liuhe Purchase of
0.00 2,817,219.00
Breeding Co., Ltd. goods
Sichuan New Hope Fresh
Purchase of
Life Commercial Chain 0.00 2,000.00
goods
Co., Ltd.
Beijing Meihao Meideling Purchase of
799,531.08 4,247,101.28
Food Co., Ltd. goods
Yan’an Xinyongxiang Purchase of
10,489,840.05 9,760,652.68
Technology Co., Ltd. goods
Beijing Porridge Jiahe
Purchase of
Restaurant Management 3,667,393.19 855,793.96
goods
Co., Ltd.
Anhui Xinqiao Down Co., Purchase of
0.00 1,080,942.32
Ltd. goods
Sichuan New Hope Purchase of
401,510.00 0.00
Industrial Co., Ltd. goods
Chengdu Tianfu
Xingxinxin Farming
Purchase of
Technology Co., Ltd. and 310,419.50 0.00
goods
its majority-owned
subsidiaries
Total 2,159,198,169.41 6,573,000,000.00 1,787,261,325.70
Statement of sale of goods/provision of services
Unit: yuan
Content of
Amount of the
Related party related-party Current amount
previous period
transaction
429
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Yunnan New Hope Xuelan Livestock Technology Co.,
Sale of goods 9,897,037.15 9,493,913.50
Ltd.
Haiyuan New Hope Livestock Co., Ltd. Sale of goods 8,879,026.67 8,862,162.67
Shilin New Hope Xuelan Livestock Co., Ltd. Sale of goods 13,289,612.36 12,045,499.81
Yongchang New Hope Xuelan Livestock Co., Ltd. Sale of goods 6,719,898.90 9,842,598.73
Luliang New Hope Xuelan Cow Breeding Co., Ltd. Sale of goods 17,089,419.59 1,282,381.18
Yunnan New Hope Diequan Livestock Co., Ltd. Sale of goods 12,346,019.81 2,766,502.57
Wuzhong New Hope Livestock Co., Ltd. Sale of goods 9,519,129.10 803,490.20
Jingyuan New Hope Livestock Co., Ltd. Sale of goods 9,068,366.14 7,109,378.44
New Hope Dairy Co., Ltd. and other majority-owned
Sale of goods 13,937,003.40 9,281,898.08
subsidiaries
Sichuan Xinrong Nutrition Technology Co., Ltd. and its
Sale of goods 31,542,867.71 24,436,255.13
majority-owned subsidiaries
Sichuan Jixian Digital Intelligence Supply Chain
Sale of goods 40,953,714.64 10,459,233.36
Technology Co., Ltd.
Grass Green Group Co., Ltd. and other majority-owned
Sale of goods 15,541,428.69 18,079,969.77
subsidiaries
New Hope Chemical Investment Co., Ltd. and its majority-
Sale of goods 1,215,521.31 7,334,206.81
owned subsidiaries
Other subsidiaries controlled by New Hope Holding Group
Sale of goods 1,165,010.93 2,548,369.05
Co., Ltd.
Beijing Meihao Meideling Food Co., Ltd. Sale of goods 3,624,926.86 4,320,682.05
Qianxinan Hope Farming Co., Ltd. Sale of goods 0.00 2,100.00
Hebei Kinghey Sausage Casings Co., Ltd. Sale of goods 31,615,193.03 29,764,145.01
New Hope Finance Co., Ltd. Sale of goods 0.00 1,445.87
Anhui Antai Agricultural Development Co., Ltd. Sale of goods 24,731,577.20 20,854,852.46
Beijing Porridge Jiahe Restaurant Management Co., Ltd. Sale of goods 19,559,623.86 17,642,969.10
Shanghai Liuhe Qinqiang Food Co., Ltd. Sale of goods 350,623,047.61 347,944,350.05
Anhui Xinqiao Down Co., Ltd. Sale of goods 7,166,330.81 15,645,411.42
Shandong Hypor Liuhe Breeding Co., Ltd. Sale of goods 1,698,113.21 559,785.78
Chengdu New Hope Industrial Investment Co., Ltd. Sale of goods 20,722.12 0.00
Xinzhi Huide Mechanical Technology Co., Ltd. and its
Sale of goods 686,092.74 2,230,795.82
majority-owned subsidiaries
Hainan Nongken New Hope Farming Technology Co.,
Sale of goods 42,241,318.53 6,627,605.82
Ltd.
Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd.
Sale of goods 5,473,621.71 0.00
and its majority-owned subsidiaries
New Hope Cloud Selection (Chongqing) E-commerce Co.,
Sale of goods 8,731.26 0.00
Ltd.
Zhanjiang Guangken Xinhao Farming Co., Ltd. Sale of goods 90,000.00 0.00
New Hope Cloud Selection Chengdu Supply Chain
Sale of goods 2,920.35 0.00
Management Co., Ltd. and its branch companies
Shandong Gongrong New Hope Equity Investment Fund Consulting
1,885,999.07 8,300,981.94
Partnership (LP) services
Shenyang New Hope New Agricultural Industry Fund Consulting
2,676,784.64 5,613,853.57
Partnership (LP) services
Total 683,269,059.40 583,854,838.19
Remarks on related-party transactions of purchase and sale of goods and provision and receipt of services
(2) Related-party leases
The company as lessor:
Unit: yuan
Rental revenue recognized Rental revenue
Name of lessee Type of leased assets
in the current period recognized in the prior
430
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period
Beijing Porridge Jiahe Restaurant
Office building 471,512.65 304,352.38
Management Co., Ltd.
Shandong Hypor Liuhe Breeding Co., Ltd. Pig farm 0.00 4,136,828.17
Beijing Meihao Meideling Food Co., Ltd. Production plant 6,224,701.24 6,632,233.62
Grass Green Group Co., Ltd. and its
Office building 958,669.43 8,807.34
majority-owned subsidiaries
Yan’an Xinyongxiang Technology Co., Ltd. Pig farm 8,667,045.54 8,667,045.54
Xinzhi Huide Machinery Technology Co.,
Equipment 0.00 557,592.24
Ltd.
Total 16,321,928.86 20,306,859.29
The company as lessee:
Unit: yuan
Rental charges of
Variable lease
short-term leases
payments not
and leases of low-
included in the Interest expenses Right-of-use assets
value assets for Rental paid
measurement of on lease liabilities added
Name Type of simplified
lease liabilities (if
of leased processing (if
applicable)
lessor assets applicable)
Amoun Amoun Amoun Amoun Amoun
Current t of the Current t of the Current t of the Current t of the Current t of the
amount previou amount previou amount previou amount previou amount previou
s period s period s period s period s period
Sichuan
Huaxi
Guoxin Office
55,453. 1,439,3 55,453. 125,192 31,578. 921,937 13,221,
g Real buildin
86 56.28 86 .41 87 .85 509.89
Estate g
Co.,
Ltd.
Sichuan
New
Office
Huaxi 37,511. 47,919. 2,225,5
buildin
Dairy 61 84 47.61
g
Co.,
Ltd.
55,453. 1,439,3 55,453. 162,704 79,498. 921,937 15,447,
Total
86 56.28 86 .02 71 .85 057.50
Remarks on related-party leases
(3) Related-party guarantees
The company as guarantor
Unit: yuan
Whether the
Amount Expiry date of guarantee
Guaranteed party Start date of guarantee
guaranteed guarantee has been
fulfilled
Sichuan New Hope Liuhe Farming
282,350,000.00 Dec. 31, 2019 Dec. 25, 2026 No
Co., Ltd
Sichuan New Hope Animal Nutrition
194,385,205.79 Apr. 17, 2023 Sept. 15, 2023 No
Technology Co., Ltd.
431
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Shandong New Hope Liuhe Group
50,000,000.00 Jan. 29, 2023 Jan. 27, 2024 No
Co., Ltd. Qingdao Trade Unit
Liaoning Xinwang Technology Co.,
752,534,900.00 Mar. 27, 2020 Mar. 04, 2031 No
Ltd.
Kangping Xinwang Farming Co.,
184,997,500.00 Feb. 18, 2021 Feb. 04, 2026 No
Ltd.
Heishan Xinliu Farming Technology
125,000,000.00 Feb. 23, 2021 Feb. 19, 2024 No
Co., Ltd.
Zhangwu Xinwang Farming Co., Ltd. 113,000,000.00 Jan. 04, 2022 Nov. 25, 2031 No
Nanning New Hope Farming
57,863,184.20 Jul. 28, 2021 Jan. 12, 2025 No
Technology Co., Ltd.
Zhanjiang Guoxiong Feed Co., Ltd. 48,000,000.00 Apr. 19, 2022 Apr. 19, 2024 No
Hainan Chengmai New Hope
80,000,000.00 Oct. 30, 2020 Jul. 16, 2024 No
Farming Co., Ltd.
Nanchong New Hope Feed Co., Ltd. 95,000,000.00 Mar. 29, 2021 Jan. 03, 2025 No
Chongqing New Hope Feed Co., Ltd. 160,000,000.00 May 31, 2021 May 30, 2024 No
Guangzhou Liuhe Feed Co., Ltd. 97,000,000.00 Jan. 06, 2023 Jun. 25, 2024 No
Yanshi Liuhe Feed Co., Ltd. 28,000,000.00 Jun. 24, 2022 Jun. 21, 2024 No
Ningxia New Hope Ruminant
50,000,000.00 Jul. 14, 2022 Jul. 12, 2023 No
Animal Nutritious Food Co., Ltd.
Kunming New Hope Agricultural
40,000,000.00 Aug. 15, 2022 Jun. 27, 2024 No
Technology Co., Ltd.
Jiangxi New Hope Farming
50,000,000.00 Oct. 11, 2022 Sept. 22, 2023 No
Technology Co., Ltd.
Guangdong Jiahao Agricultural
30,000,000.00 Dec. 23, 2022 Dec. 20, 2023 No
Products Co., Ltd.
Qiandongnan New Hope Farming
20,000,000.00 Feb. 27, 2023 Mar. 06, 2024 No
Technology Co., Ltd.
Wuwei New Hope Liuhe Feed Co.,
17,780,000.00 Jan. 20, 2023 May 15, 2028 No
Ltd.
Xiangyang New Hope Liuhe Feed
10,000,000.00 Mar. 02, 2023 Mar. 02, 2024 No
Co., Ltd.
Huanggang New Hope Feed
10,000,000.00 Mar. 06, 2023 Mar. 06, 2024 No
Technology Co., Ltd.
Hubei Tuanfeng New Hope Feed
10,000,000.00 Mar. 17, 2023 Mar. 17, 2024 No
Co., Ltd.
Kunming New Hope Animal
10,000,000.00 Mar. 10, 2023 Mar. 10, 2024 No
Nutritious Food Co., Ltd.
Taizhou New Hope Agriculture Co.,
20,000,000.00 Mar. 16, 2023 Mar. 11, 2025 No
Ltd.
Jiangmen Liuhe Feed Co., Ltd. 184,500,000.00 Mar. 26, 2021 Oct. 27, 2025 No
Qingdao Liuhe Feed Co., Ltd. 10,000,000.00 Mar. 31, 2023 Mar. 31, 2024 No
Yishui Liuhe Feed Co., Ltd. 10,000,000.00 Apr. 13, 2023 Apr. 13, 2024 No
Yuncheng Dingtai Feed Co., Ltd. 10,000,000.00 Apr. 12, 2023 Apr. 12, 2024 No
Wulong New Hope Liuhe Feed Co.,
50,000,000.00 Jun. 27, 2023 Jun. 25, 2024 No
Ltd.
Anyang Xinliu Technology Co., Ltd. 160,000,000.00 Jan. 20, 2021 Jul. 28, 2027 No
Bijie Xinliu Farming Co., Ltd. 79,200,000.00 May 19, 2020 May 18, 2029 No
Gansu New Hope Liuhe Farming
104,996,600.00 Jun. 29, 2020 Jun. 20, 2027 No
Co., Ltd.
Guanling Xinmu Breeding Co., Ltd. 108,880,000.00 Oct. 29, 2020 Oct. 28, 2030 No
Guang’an Xinhao Farming Co., Ltd. 313,222,377.56 Apr. 23, 2021 Feb. 27, 2030 No
Guangyuan Xinchi Farming Co., Ltd. 58,000,000.00 Mar. 16, 2021 Mar. 15, 2031 No
Guangyuan Xinhao Agricultural
394,200,000.00 Jun. 30, 2020 Jun. 28, 2030 No
Development Co., Ltd.
Hubei Xinhao Farming Co., Ltd. 548,801,829.32 May 28, 2020 Sept. 22, 2028 No
Lezhi Xinmu Farming Co., Ltd. 229,500,000.00 Mar. 05, 2021 Feb. 23, 2029 No
432
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Liquan New Hope Liuhe Farming
114,000,000.00 Sept. 29, 2020 Nov. 20, 2026 No
Co., Ltd.
Luding Xinyue Farming Technology
37,800,000.00 Apr. 02, 2021 May 6, 2029 No
Co., Ltd.
Meishan Xinmu Farming Co., Ltd. 214,500,000.00 Mar. 30, 2021 Mar. 25, 2029 No
Pucheng Xinliu Technology Co., Ltd. 129,193,810.49 Nov. 20, 2020 Nov. 19, 2025 No
Puyang Xinliu Farming Technology
80,657,104.52 Jan. 06, 2021 Aug. 06, 2025 No
Co., Ltd.
Ruzhou Quansheng Farming
63,000,000.00 Jan. 06, 2021 Aug. 06, 2025 No
Technology Co., Ltd.
Santai New Hope Farming
181,000,000.00 Apr. 01, 2022 Mar. 31, 2025 No
Technology Co., Ltd.
Shiyan Xinyue Farming Technology
90,750,000.00 Apr. 15, 2021 Apr. 11, 2029 No
Co., Ltd.
Shuozhou Xinhao Farming Co., Ltd. 280,000,000.00 Sept. 01, 2020 Mar. 07, 2024 No
Taiqian Xinliu Farming Technology
160,000,000.00 Aug. 27, 2020 Jun. 21, 2027 No
Co., Ltd.
Weinan Xinliu Technology Co., Ltd. 443,199,772.00 Dec. 24, 2019 Dec. 23, 2031 No
Wuqi Xinliu Technology Co., Ltd. 80,000,000.00 Sept. 15, 2020 Nov. 20, 2027 No
Xingren Xinliu Farming Technology
94,875,000.00 Sept. 30, 2020 Sept. 22, 2028 No
Co., Ltd.
Yanting Xinhao Farming Co., Ltd. 303,893,000.00 Sept. 30, 2019 Dec. 3, 2025 No
Yangling Besun Agricultural
53,000,000.00 Sept. 24, 2019 Sept. 24, 2024 No
Industry Group Co., Ltd.
Yijun Xinliu Technology Co., Ltd. 141,000,000.00 Nov. 15, 2019 Nov. 14, 2031 No
Yincheng Xinhao Farming Co., Ltd. 345,157,894.74 Aug. 18, 2020 Dec. 20, 2030 No
Hebei Kinghey Meat Industry Co.,
199,500,000.00 Jul. 29, 2022 Jul. 28, 2025 No
Ltd.
Liaoning Kinghey Food Co., Ltd. 50,000,000.00 Apr. 01, 2023 Mar. 27, 2024 No
Beijing Kinghey Food Co., Ltd. 37,127,120.67 Jun. 12, 2020 Jun. 11, 2025 No
Shandong Kinghey Food Co., Ltd. 176,458,074.47 Jul. 13, 2021 Jul. 01, 2028 No
Yangling Besun Agricultural
Industry Group Co., Ltd. Cooked 26,438,906.80 Jun. 02, 2022 Dec. 21, 2028 No
Food Center
Liaocheng Xinhao Farming Co., Ltd. 72,191,872.59 Dec. 12, 2019 Nov. 24, 2024 No
Tangshan Xinhao Farming Co., Ltd. 510,300,000.00 Apr. 24, 2020 Apr. 27, 2028 No
Cao County Xinhao Farming Co.,
189,996,869.27 Apr. 28, 2020 Apr. 19, 2025 No
Ltd.
Laiyang Xinhao Livestock Co., Ltd. 127,000,000.00 Apr. 30, 2020 Apr. 18, 2025 No
Shenze New Hope Liuhe Breeding
186,970,003.00 May 19, 2020 May 6, 2028 No
Co., Ltd.
Wulian Xinhao Farming Co., Ltd. 49,833,333.28 Jun. 24, 2020 Jun. 20, 2025 No
Hebei Xinhao Fucheng Agricultural
183,460,000.00 Jun. 30, 2020 Jun. 30, 2028 No
Technology Co., Ltd.
Juye Xinhao Farming Co., Ltd. 175,000,000.00 Jul. 09, 2020 Jun. 22, 2027 No
Yantai Xinhao Farming Co., Ltd. 266,464,761.80 Oct. 12, 2020 Oct. 13, 2025 No
Dongying Xinhao Modern Farming
336,000,000.00 Dec. 1, 2020 Nov. 23, 2025 No
Co., Ltd.
Dong’e New Hope Liuhe Swine
112,000,000.00 May 22, 2020 May 21, 2025 No
Breeding Co., Ltd.
Jiaxiang New Hope Liuhe Swine
14,000,000.00 Jun. 24, 2020 Jun. 10, 2024 No
Breeding Co., Ltd.
Neiqiu Xinliu Farming Technology
270,010,200.00 Jul. 20, 2020 Jul. 19, 2029 No
Co., Ltd.
Fuping Xinliu Farming Technology
67,500,000.00 Nov. 12, 2020 May 20, 2029 No
Co., Ltd.
Laixi New Hope Liuhe Farming Co., 792,871,346.30 Apr. 17, 2020 Apr. 09, 2030 No
433
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Ltd.
Donghai Xinhao Modern Farming
100,000,000.00 Aug. 18, 2020 Aug. 17, 2025 No
Co., Ltd.
Nanjing Xinmu Farming Co., Ltd. 54,821,430.00 Sept. 22, 2020 Sept. 22, 2025 No
Rugao Xinhao Farming Co., Ltd. 50,000,000.00 Oct. 15, 2020 Oct. 14, 2023 No
Shan County Xinhao Farming Co.,
92,475,000.00 Jan. 08, 2021 Dec. 27, 2025 No
Ltd.
Xinji Xinliu Farming Technology
220,000,000.00 Jan. 08, 2021 Sept. 09, 2027 No
Co., Ltd.
Pingyuan Xinliu Farming
39,299,135.16 Mar. 01, 2021 Dec. 1, 2027 No
Technology Co., Ltd.
Zhenjiang New Hope Liuhe Farming
50,000,000.00 Mar. 19, 2021 Dec. 17, 2025 No
Co., Ltd.
Pizhou New Hope Liuhe Farming
135,000,000.00 Mar. 31, 2021 Mar. 30, 2026 No
Co., Ltd.
Zibo Xinhao Farming Co., Ltd. 60,726,126.16 May 6, 2021 Feb. 23, 2030 No
Julu Xinliu Farming Technology Co.,
50,650,000.00 May 19, 2021 May 18, 2026 No
Ltd.
Raoyang Xinhao Farming Co., Ltd. 50,000,000.00 Apr. 30, 2021 Mar. 30, 2024 No
Dacheng Xinhao Technology Co.,
59,600,000.00 Jul. 23, 2021 May 20, 2030 No
Ltd.
Hengshui Jizhou District Xinhao
110,800,000.00 Jan. 20, 2022 Jun. 15, 2029 No
Farming Co., Ltd.
Gaotang County Xinhao Farming
92,347,091.19 Jul. 08, 2020 Jul. 07, 2026 No
Co., Ltd.
Beijing Xinliu Farming Technology
200,066,246.00 Jun. 30, 2020 Jun. 24, 2032 No
Co., Ltd.
Tianjin New Hope Liuhe Farming
107,435,483.87 Mar. 10, 2023 Mar. 10, 2032 No
Technology Co., Ltd.
Suixi Xinhao Farming Co., Ltd. 30,000,000.00 Mar. 29, 2021 Mar. 28, 2026 No
Wuhe New Hope Liuhe Livestock
791,754,054.75 May 20, 2020 Sept. 23, 2028 No
Co., Ltd.
Laiyang Xinmu Breeding Co., Ltd. 126,500,000.00 Nov. 18, 2020 May 19, 2029 No
Tianjin Xinliu Farming Technology
258,739,088.52 Feb. 05, 2021 Jan. 08, 2030 No
Co., Ltd.
Chengdu Xinjin Xinhao Farming
111,257,500.00 Dec. 28, 2022 Dec. 21, 2030 No
Co., Ltd.
New Hope Liuhe (Zibo) Agricultural
62,060,000.00 Apr. 01, 2022 Feb. 21, 2029 No
Technology Development Co., Ltd.
Tongcheng Xinliu Farming
261,470,647.81 Jan. 27, 2021 Oct. 21, 2027 No
Technology Co., Ltd.
Xiajiang Xinliu Farming Co., Ltd. 37,500,000.00 Feb. 04, 2021 Oct. 14, 2025 No
Jiangxi New Hope Liuhe Farming
135,625,000.00 May 10, 2021 Oct. 27, 2025 No
Technology Co., Ltd.
Zhaoqing Xinhao Farming Co., Ltd. 185,959,999.98 Feb. 10, 2021 Feb. 09, 2028 No
Ruyuan Yao Autonomous County
70,000,000.00 Feb. 03, 2021 Oct. 18, 2025 No
Xinhao Farming Co., Ltd.
Longhai New Hope Liuhe Farming
87,500,000.00 Dec. 23, 2020 Dec. 21, 2025 No
Co., Ltd.
Nanning Xinliu Farming Technology
93,750,000.00 Apr. 15, 2020 Apr. 13, 2028 No
Co., Ltd.
Nanning Xinhao Farming Co., Ltd. 210,000,000.00 Apr. 16, 2020 Apr. 13, 2029 No
Ningming Xinhao Farming Co., Ltd. 300,000,000.00 Apr. 15, 2020 Apr. 14, 2030 No
Hengyang Xinhao Farming Co., Ltd. 55,378,250.00 Nov. 2, 2020 Oct. 28, 2025 No
Chenzhou Xinhao Farming Co., Ltd. 301,875,000.00 Apr. 15, 2020 Apr. 13, 2029 No
Hengnan County Muyun Eco-
105,000,000.00 May 19, 2020 May 18, 2029 No
agriculture Co., Ltd.
434
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Shaoyang Xinmu Farming Co., Ltd. 36,740,000.00 Jul. 30, 2021 Apr. 21, 2028 No
Longhui New Hope Liuhe Farming
48,750,000.00 Nov. 6, 2020 Sept. 27, 2028 No
Co., Ltd.
Rui'an New Hope Liuhe Farming
49,000,000.00 Nov. 13, 2020 Dec. 21, 2025 No
Co., Ltd.
Zhejiang Yihai Agricultural
116,671,250.00 Aug. 04, 2020 Aug. 25, 2028 No
Development Co. Ltd.
Ningbo New Hope Liuhe Farming
93,750,000.00 Jul. 03, 2020 Jul. 02, 2025 No
Co., Ltd.
Xiangshan Huatong Livestock Co.,
120,000,000.00 May 21, 2021 Mar. 10, 2026 No
Ltd.
Ningbo New Hope Liuhe Feed Co.,
49,500,000.00 Sept. 21, 2022 May 5, 2032 No
Ltd.
Laibin Xinhao Farming Co., Ltd. 232,000,000.00 Mar. 05, 2021 Mar. 05, 2026 No
Hezhou Xinhao Farming Co., Ltd. 262,500,000.00 Apr. 15, 2020 Apr. 13, 2030 No
Guigang Xinliu Farming Technology
179,100,000.00 Mar. 12, 2021 Oct. 12, 2030 No
Co., Ltd.
Liuzhou Xinliu Farming Technology
76,500,000.00 Oct. 27, 2020 Oct. 10, 2028 No
Co., Ltd.
Hainan Lingao Xinliu Breeding Co.,
45,000,000.00 Mar. 27, 2020 Nov. 20, 2025 No
Ltd.
Lipu Xinhao Farming Technology
50,000,000.00 May 22, 2023 May 15, 2024 No
Co., Ltd.
Fuxin Liuhe Farming Co., Ltd. 100,000,000.00 Mar. 28, 2023 Mar. 15, 2024 No
Yanggu Liuhe Luxin Food Co., Ltd. 50,000,000.00 Apr. 25, 2023 Apr. 24, 2024 No
Laiwu New Hope Liuhe Food Co.,
10,000,000.00 Apr. 12, 2023 Apr. 12, 2024 No
Ltd.
New Hope Singapore Pte. Ltd. 3,655,954,485.92 Oct. 19, 2020 Dec. 18, 2025 No
Guanghan Guoxiong Feed Co., Ltd. 1,528,067.18 May 23, 2023 May 22, 2024 No
Chongqing New Hope Feed Co., Ltd. 5,866,546.14 May 23, 2023 May 22, 2024 No
Kai County New Hope Feed Co.,
293.00 May 23, 2023 May 22, 2024 No
Ltd.
Kunming New Hope Agricultural
1,721,651.60 May 23, 2023 May 22, 2024 No
Technology Co., Ltd.
Kunming New Hope Animal
482,900.40 May 23, 2023 May 22, 2024 No
Nutritious Food Co., Ltd.
Zunyi Jiahao Feed Co., Ltd. 479,838.27 May 23, 2023 May 22, 2024 No
New Hope Liuhe Feed Co., Ltd.
2,807.75 May 23, 2023 May 22, 2024 No
Pingyuan Banch
Qingyun Liuhe Feed Co., Ltd. 355,566.86 May 23, 2023 May 22, 2024 No
Liaocheng Liuhe Feed Co., Ltd. 348,109.57 May 23, 2023 May 22, 2024 No
Yingtan New Hope Feed Co., Ltd. 26,528.91 May 23, 2023 May 22, 2024 No
Anyang New Hope Liuhe Feed Co.,
853,950.22 May 23, 2023 May 22, 2024 No
Ltd.
Gushi Liuhe Co., Ltd. 3,860.00 May 23, 2023 May 22, 2024 No
Henan Liuhe Feed Co., Ltd. 2,294,500.69 May 23, 2023 May 22, 2024 No
Baoji New Hope Farming Co., Ltd. 508,093.85 May 23, 2023 May 22, 2024 No
Yanshi Liuhe Feed Co., Ltd. 785,080.81 May 23, 2023 May 22, 2024 No
Lingbao New Hope Liuhe Feed Co.,
109,586.45 May 23, 2023 May 22, 2024 No
Ltd.
Xuancheng Liuhe Feed Co., Ltd. 392,610.26 May 23, 2023 May 22, 2024 No
Jinan New Hope Liuhe Feed Co.,
1,445,820.91 May 23, 2023 May 22, 2024 No
Ltd.
Tangshan New Hope Liuhe Feed Co.,
18,066.24 May 23, 2023 May 22, 2024 No
Ltd.
Hebei New Hope Feed Co., Ltd. 346,448.24 May 23, 2023 May 22, 2024 No
Beijing New Hope Farming 68,474.56 May 23, 2023 May 22, 2024 No
435
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Technology Co., Ltd.
Shouguang Liuhe Dingtai Feed Co.,
2,870,090.79 May 23, 2023 May 22, 2024 No
Ltd.
Pingxiang New Hope Feed Co., Ltd. 400,043.22 May 23, 2023 May 22, 2024 No
Handan Liuhe Huayu Feed Co., Ltd. 548,277.29 May 23, 2023 May 22, 2024 No
Jiangmen Liuhe Feed Co., Ltd. 4,968,159.34 May 23, 2023 May 22, 2024 No
Guangzhou Hope Feed Co., Ltd. 903,653.62 May 23, 2023 May 22, 2024 No
Guangzhou Liuhe Feed Co., Ltd. 944,982.92 May 23, 2023 May 22, 2024 No
Zhanjiang Guoxiong Feed Co., Ltd. 1,825,940.79 May 23, 2023 May 22, 2024 No
Weifang Liuhe Feed Co., Ltd. Linqu
77,485.19 May 23, 2023 May 22, 2024 No
Branch
Yishui Liuhe Feed Co., Ltd. 8,567.48 May 23, 2023 May 22, 2024 No
Changtu Liuhe Farming Co., Ltd. 49,810.96 May 23, 2023 May 22, 2024 No
Anqiu Liuhe Feed Co., Ltd. 1,212,000.62 May 23, 2023 May 22, 2024 No
Shan County Liuhe Feed Co., Ltd. 141,836.32 May 23, 2023 May 22, 2024 No
Zhucheng New Hope Liuhe Feed
228,207.15 May 23, 2023 May 22, 2024 No
Co., Ltd.
Zaozhuang New Hope Liuhe Feed
275,475.30 May 23, 2023 May 22, 2024 No
Co., Ltd.
Tai’an Liuhe Jingwei Farming Co.,
226,476.01 May 23, 2023 May 22, 2024 No
Ltd. Feed Plant
Zhanjiang Guoxiong No. 1 Native
2,079,668.13 May 23, 2023 May 22, 2024 No
Pig Feed Co., Ltd.
Nanning New Hope Farming
3,461,327.34 May 23, 2023 May 22, 2024 No
Technology Co., Ltd.
Shenyang New Hope Farming
477,775.65 May 23, 2023 May 22, 2024 No
Technology Co., Ltd.
Nayong New Hope Yuansheng
379.60 May 23, 2023 May 22, 2024 No
Agriculture Co., Ltd.
Tangshan Muzheng Feed Co., Ltd. 23,928.53 May 23, 2023 May 22, 2024 No
Sichuan New Hope Animal Nutrition
65,448,268.49 May 23, 2023 May 22, 2024 No
Technology Co., Ltd.
Heze Xinhao Feed Co., Ltd. 315,527.03 May 23, 2023 May 22, 2024 No
Wei County New Hope Feed Co.,
42,763.92 May 23, 2023 May 22, 2024 No
Ltd.
Huizhou Liuhe Feed Co., Ltd. 559,374.40 May 23, 2023 May 22, 2024 No
Jiangmen Xinhui District Liuhe
499,449.80 May 23, 2023 May 22, 2024 No
Biotechnology Co., Ltd.
Hainan New Hope Liuhe Supply
14,710,268.42 May 23, 2023 May 22, 2024 No
Chain Technology Co., Ltd.
Laiyang New Hope Liuhe Feed Co.,
52,856,011.72 Feb. 8, 2023 Nov. 23, 2023 No
Ltd.
Shouguang Liuhe Dingtai Feed Co.,
21,298,040.78 Feb. 8, 2023 Nov. 24, 2023 No
Ltd.
Anqiu Liuhe Feed Co., Ltd. 52,924,695.24 Feb. 8, 2023 Nov. 24, 2023 No
Lezhi Xinmu Farming Co., Ltd. 700,937.81 Feb. 8, 2023 Aug. 06, 2023 No
Tangshan Xinhao Farming Co., Ltd. 1,375,626.34 Feb. 09, 2023 Aug. 08, 2023 No
Zhangwu Xinwang Farming Co., Ltd. 2,513,191.35 Feb. 09, 2023 Dec. 5, 2023 No
Shibing County New Hope Liuhe
913,259.56 Feb. 09, 2023 Aug. 08, 2023 No
Breeding Co., Ltd.
Laixi New Hope Liuhe Farming Co.,
4,586,445.31 Feb. 20, 2023 Dec. 8, 2023 No
Ltd.
Heze Xinhao Farming Co., Ltd. 224,400.00 Feb. 24, 2023 Aug. 23, 2023 No
Hubei Xinhao Farming Co., Ltd. 1,410,599.25 Mar. 03, 2023 Nov. 28, 2023 No
Tianjin Xinliu Farming Technology
8,708,484.34 Mar. 03, 2023 Dec. 9, 2023 No
Co., Ltd.
Liaoning Xinwang Technology Co., 5,245,100.33 Mar. 07, 2023 Nov. 20, 2023 No
436
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Ltd.
Yishui New Hope Liuhe Food Co.,
20,876,464.00 Mar. 07, 2023 Aug. 29, 2023 No
Ltd.
Weifang Liuhe Feed Co., Ltd. 175,380,891.65 Mar. 07, 2023 Oct. 7, 2023 No
Changle County Liwang Breeding
20,706,479.90 Mar. 07, 2023 Sept. 05, 2023 No
Co., Ltd.
Anshan Liuhe Rentai Feed Co., Ltd. 818,405.10 Mar. 07, 2023 Sept. 07, 2023 No
Weifang Heshengyuan Food Co.,
9,828,683.00 Mar. 07, 2023 Sept. 05, 2023 No
Ltd.
Changyi Liuhe Xinrong Feed Co.,
19,114,735.36 Mar. 08, 2023 Dec. 8, 2023 No
Ltd.
Xiangyang New Hope Liuhe Feed
4,594,473.14 Mar. 08, 2023 Sept. 08, 2023 No
Co., Ltd.
Lijin County New Hope Liuhe
3,640,390.66 Mar. 08, 2023 Sept. 11, 2023 No
Breeding Co., Ltd.
Yuncheng Liuhe Food Co., Ltd. 7,112,294.20 Mar. 08, 2023 Nov. 3, 2023 No
Jingzhou New Hope Feed Co., Ltd. 4,784,686.56 Mar. 10, 2023 Oct. 27, 2023 No
Huanggang New Hope Feed
15,485,211.98 Mar. 10, 2023 Nov. 7, 2023 No
Technology Co., Ltd.
Jing County Xinhao Farming Co.,
1,000,000.00 Mar. 10, 2023 Sept. 09, 2023 No
Ltd.
Sichuan Xinhe Import & Export Co.,
5,762,830.91 Mar. 13, 2023 Dec. 1, 2023 No
Ltd.
Juye Xinhao Farming Co., Ltd. 2,288,817.64 Mar. 13, 2023 Nov. 10, 2023 No
Kunming New Hope Agricultural
458,700.00 Mar. 15, 2023 Sept. 14, 2023 No
Technology Co., Ltd.
Zouping Liuhe Broiler Breeding Co.,
1,088,955.10 Mar. 15, 2023 Sept. 15, 2023 No
Ltd.
Rizhao Xinhao Farming Co., Ltd. 3,303,688.57 Mar. 17, 2023 Nov. 17, 2023 No
Qingdao Xinhang Engineering
12,423,323.85 Mar. 21, 2023 Dec. 5, 2023 No
Management Co., Ltd.
Changning County New Hope Liuhe
Ecological Farming Technology Co., 443,671.00 Mar. 21, 2023 Sept. 21, 2023 No
Ltd.
Sanyuan New Hope Feed Co., Ltd. 170,000.00 Mar. 27, 2023 Sept. 26, 2023 No
Taizhou New Hope Agriculture Co.,
5,941,560.13 Mar. 28, 2023 Nov. 16, 2023 No
Ltd.
Hengyang Xinhao Farming Co., Ltd. 2,417,428.70 Mar. 28, 2023 Nov. 22, 2023 No
Sheyang Liuhe Feed Co., Ltd. 240,000.00 Mar. 30, 2023 Sept. 29, 2023 No
Baiyin New Hope Farming
2,380,911.22 Apr. 04, 2023 Sept. 04, 2023 No
Technology Co., Ltd.
Yanting Xinhao Farming Co., Ltd. 6,588,572.86 Apr. 07, 2023 Nov. 24, 2023 No
Chenzhou Xinhao Farming Co., Ltd. 3,169,495.43 Apr. 10, 2023 Nov. 29, 2023 No
Beijing Xinliu Farming Technology
269,366.26 Apr. 10, 2023 Oct. 9, 2023 No
Co., Ltd.
Mianyang New Hope Liuhe Farming
2,305,000.00 Apr. 10, 2023 Oct. 10, 2023 No
Technology Co., Ltd.
Xingren Xinliu Farming Technology
1,758,100.00 Apr. 12, 2023 Oct. 9, 2023 No
Co., Ltd.
Yiyang New Hope Feed Co., Ltd. 1,800,000.00 Apr. 17, 2023 Oct. 20, 2023 No
Horqin Left Wing Middle Banner
179,800.00 Apr. 18, 2023 Oct. 18, 2023 No
Xinhao Farming Co., Ltd.
Nangong Xinhao Kinghey Farming
1,792,800.00 Apr. 18, 2023 Oct. 19, 2023 No
Co., Ltd.
Xianyang Yongxiang Agricultural
1,212,060.07 Apr. 20, 2023 Oct. 25, 2023 No
Technology Co., Ltd.
Ruyuan Yao Autonomous County 1,287,791.78 Apr. 20, 2023 Nov. 28, 2023 No
437
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Xinhao Farming Co., Ltd.
Hanzhong New Hope Liuhe Farming
2,671,384.81 Apr. 20, 2023 Dec. 1, 2023 No
Technology Co., Ltd.
Anyang Xinliu Technology Co., Ltd. 309,500.00 Apr. 21, 2023 Oct. 20, 2023 No
Nanning Wuming District Xinliu
269,132.23 Apr. 21, 2023 Nov. 29, 2023 No
Farming Technology Co., Ltd.
Rugao Xinhao Farming Co., Ltd. 71,596.86 Apr. 21, 2023 Oct. 18, 2023 No
Changle New Hope Liuhe Farming
775,459.23 Apr. 21, 2023 Oct. 26, 2023 No
Co., Ltd.
Nanning Xinhao Farming Co., Ltd. 440,007.17 Apr. 24, 2023 Nov. 16, 2023 No
Yangling Besun Agricultural
4,549,871.08 Apr. 24, 2023 Nov. 28, 2023 No
Industry Group Co., Ltd.
Qianwei Xinhao Farming Co., Ltd. 856,136.87 Apr. 24, 2023 Oct. 24, 2023 No
Hubei Tuanfeng New Hope Feed
1,410,580.39 Apr. 26, 2023 Nov. 23, 2023 No
Co., Ltd.
Zhenyuan Xinmu Agricultural
947,763.81 Apr. 26, 2023 Nov. 1, 2023 No
Development Co., Ltd.
Junan Liuhe Breeding Co., Ltd. 657,300.00 Apr. 26, 2023 Nov. 14, 2023 No
Yan’an Benyuan Agricultural
1,221,081.23 Apr. 27, 2023 Nov. 18, 2023 No
Technology Development Co., Ltd.
Dacheng Xinhao Technology Co.,
1,427,777.14 Apr. 27, 2023 Dec. 13, 2023 No
Ltd.
Binzhou New Hope Liuhe Farming
1,129,246.03 Apr. 28, 2023 Nov. 22, 2023 No
Co., Ltd.
Laibin Xinhao Farming Co., Ltd. 1,603,878.80 Apr. 28, 2023 Nov. 24, 2023 No
Shiyan Xinyue Farming Technology
122,980.00 Apr. 28, 2023 Oct. 25, 2023 No
Co., Ltd.
Dong’e New Hope Liuhe Swine
998,054.04 May 4, 2023 Nov. 10, 2023 No
Breeding Co., Ltd.
Hainan Lingao Xinliu Breeding Co.,
4,985,124.90 May 5, 2023 Oct. 7, 2023 No
Ltd.
Jiangxi New Hope Liuhe Farming
957,336.80 May 5, 2023 Oct. 31, 2023 No
Technology Co., Ltd.
Ningming Xinhao Farming Co., Ltd. 59,744.39 May 5, 2023 Nov. 1, 2023 No
Shandong Xiangsheng Livestock and
9,915,964.09 May 6, 2023 Dec. 5, 2023 No
Poultry Breeding Co., Ltd.
Jiaxiang New Hope Liuhe Food Co.,
13,385,451.40 May 6, 2023 Nov. 3, 2023 No
Ltd.
Xiajiang Xinliu Farming Co., Ltd. 2,849,374.59 May 6, 2023 Nov. 2, 2023 No
Shenze New Hope Liuhe Breeding
1,998,846.49 May 8, 2023 Dec. 4, 2023 No
Co., Ltd.
Shan County Xinhao Farming Co.,
49,572.00 Mar. 9, 2023 Nov. 8, 2023 No
Ltd.
Langzhong Xinliu Farming
230,564.70 May 10, 2023 Nov. 5, 2023 No
Technology Co., Ltd.
Hebei Xinhao Fucheng Agricultural
843,118.57 May 11, 2023 Nov. 11, 2023 No
Technology Co., Ltd.
Santai New Hope Farming
1,093,320.16 May 11, 2023 Dec. 11, 2023 No
Technology Co., Ltd.
Guang’an Xinhao Farming Co., Ltd. 1,409,837.15 May 11, 2023 Nov. 20, 2023 No
Shan County Liuhe Feed Co., Ltd. 14,369,305.54 May 11, 2023 Dec. 8, 2023 No
Pingyuan Xinliu Farming
186,167.22 May 12, 2023 Nov. 10, 2023 No
Technology Co., Ltd.
Zhangjiakou Xinwang Farming Co.,
4,215,704.64 May 12, 2023 Dec. 5, 2023 No
Ltd.
Suining Xinliu Farming Technology
1,117,024.33 May 12, 2023 Nov. 10, 2023 No
Co., Ltd.
438
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Wuhe New Hope Liuhe Livestock
927,370.29 May 15, 2023 Dec. 8, 2023 No
Co., Ltd.
Kangping Xinwang Farming Co.,
587,985.47 May 16, 2023 Nov. 16, 2023 No
Ltd.
Gaomi Xinliu Farming Technology
2,651,511.80 May 17, 2023 Nov. 16, 2023 No
Co., Ltd.
Yichun Xinwang Farming Co., Ltd. 1,411,779.85 May 17, 2023 Dec. 5, 2023 No
Cao County Xinhao Farming Co.,
2,742,649.96 May 17, 2023 Nov. 16, 2023 No
Ltd.
Wannian County New Hope Liuhe
215,576.27 May 17, 2023 Nov. 13, 2023 No
Farming Co., Ltd.
Zhucheng Xinliu Farming
677,241.09 May 18, 2023 Nov. 28, 2023 No
Technology Co., Ltd.
Shaoyang Xinmu Farming Co., Ltd. 1,755,968.60 Mar. 14, 2023 Dec. 6, 2023 No
Luochuan Xinliu Technology Co.,
20,000.00 May 22, 2023 Nov. 17, 2023 No
Ltd.
Zhaoqing Xinhao Farming Co., Ltd. 916,111.02 May 22, 2023 Nov. 17, 2023 No
Chenzhou Xinyue Farming
1,130,000.00 May 23, 2023 Nov. 17, 2023 No
Technology Co., Ltd.
Xiajin Xinhao Feed Co., Ltd. 1,000,000.00 May 23, 2023 Nov. 22, 2023 No
Ruzhou Quansheng Farming
4,129,445.66 May 23, 2023 Dec. 5, 2023 No
Technology Co., Ltd.
Ningbo New Hope Liuhe Farming
62,898.28 May 23, 2023 Nov. 17, 2023 No
Co., Ltd.
Zihong Hengbo Feed Technology
429,500.00 May 24, 2023 Nov. 30, 2023 No
Co., Ltd.
Raoyang Xinhao Farming Co., Ltd. 515,066.60 May 24, 2023 Nov. 24, 2023 No
Xinji Xinliu Farming Technology
693,695.80 May 25, 2023 Dec. 6, 2023 No
Co., Ltd.
Yantai Xinhao Farming Co., Ltd. 1,004,812.65 May 25, 2023 Nov. 24, 2023 No
Juye Liuhe Feed Co., Ltd. 6,713,794.95 May 25, 2023 Nov. 24, 2023 No
Fenxi New Hope Liuhe Food Co.,
10,871,129.42 May 25, 2023 Nov. 24, 2023 No
Ltd.
Fuping Xinliu Farming Technology
146,252.91 May 25, 2023 Nov. 24, 2023 No
Co., Ltd.
Tianjin New Hope Liuhe Farming
3,018,341.59 May 26, 2023 Dec. 8, 2023 No
Technology Co., Ltd.
Laiyang Xinhao Livestock Co., Ltd. 250,410.40 May 29, 2023 Nov. 9, 2023 No
Guangxi Luocheng Xinhao Farming
238,860.97 May 30, 2023 Nov. 20, 2023 No
Co., Ltd.
Dingzhou Xinhao Farming Co., Ltd. 21,968.68 May 30, 2023 Nov. 29, 2023 No
Panzhou Xinliu Farming
610,536.52 May 31, 2023 Nov. 27, 2023 No
Development Co., Ltd.
Manning Xinliu Farming Technology
1,218,630.67 Jun. 1, 2023 Nov. 28, 2023 No
Co., Ltd.
Pizhou New Hope Liuhe Farming
689,640.00 Jun. 1, 2023 Dec. 1, 2023 No
Co., Ltd.
Hezhou Xinhao Farming Co., Ltd. 1,376,547.90 Jun. 02, 2023 Nov. 28, 2023 No
Longhui New Hope Liuhe Farming
447,918.26 Jun. 05, 2023 Dec. 2, 2023 No
Co., Ltd.
Heyang Zhenghe Modern Farming
75,139.96 Jun. 06, 2023 Nov. 23, 2023 No
Co., Ltd.
Pingxiang New Hope Liuhe Feed
1,008,564.25 Jun. 08, 2023 Dec. 1, 2023 No
Co., Ltd.
Tangshan Xinhao Environmental
2,342,388.10 Jun. 08, 2023 Dec. 8, 2023 No
Protection Technology Co., Ltd.
Dezhou Xinhao Farming Co., Ltd. 1,564,940.88 Jun. 09, 2023 Dec. 8, 2023 No
439
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Guangyuan Xinhao Agricultural
2,247,602.00 Jun. 12, 2023 Dec. 11, 2023 No
Development Co., Ltd.
Chengdu Tianfu Xingxinxin Farming
207,732,880.00 Jan. 16, 2023 Jan. 17, 2030 No
Technology Co., Ltd.
Rong County Xinmu Farming Co.,
235,000,000.00 Mar. 12, 2020 Nov. 20, 2028 No
Ltd.
Anyue New Hope Liuhe Farming
33,171,400.00 May 19, 2021 May 19, 2027 No
Co., Ltd.
Yanyuan Xinliu Farming Technology
190,000,000.00 Jun. 15, 2021 Apr. 28, 2031 No
Co., Ltd.
22,735,484,144.9
Total
4
Remarks on related-party guarantees wherein the company as the guaranteed party
Note: 1. guarantees provided among subsidiaries:
:
Whether the
Amount Start date of Expiry date of
Guarantor Guaranteed party guarantee has been
guaranteed guarantee guarantee
fulfilled
Shandong New Hope Liuhe Qingdao New Hope Herun Bio-
3,738,253.79 Apr. 22, 2022 Apr. 21, 2027 No
Group Co., Ltd. technology Co., Ltd.
Shandong New Hope Liuhe
Qingdao Tianrun Food Co., Ltd. 73,100,000.00 Feb. 28, 2023 Aug. 28, 2024 No
Group Co., Ltd.
Total 76,838,253.79
(4) Remuneration of key management
Unit: yuan
Item Current amount Amount of the previous period
Total compensation of key management 7,260,000.00 8,128,100.00
(5) Related-party financial services
1. Notes
The subsidiaries of the company discount notes at the finance company for purchase and sale business, as follows:
Name of related party Ending balance Beginning balance Current interest expenditure
New Hope Finance Co., Ltd. 4,040,915,150.44 3,947,464,505.34 65,404,825.50
2. Deposits
Name of related party Ending balance Beginning balance Current interest revenue
New Hope Finance Co., Ltd. 4,936,236,554.27 6,950,201,146.18 39,071,235.44
3. Loans
Name of related party Ending balance Beginning balance Current interest expenditure
New Hope Finance Co., Ltd. 40,700,000.00 34,300,000.00 820,478.87
6. Receivables from and payables to related parties
(1) Receivables
Unit: yuan
Project Ending balance Beginning balance
Related party
name Book balance Bad debt Book balance Bad debt
440
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
provision provision
Accounts Beijing Porridge Jiahe Restaurant
4,731,340.92 76,335.35 6,783,966.62 103,225.72
receivable Management Co., Ltd.
Accounts
Nanjing Heda Food Co., Ltd. 25,027,303.01 25,027,303.01 25,027,303.01 25,027,303.01
receivable
Accounts Shanghai Liuhe Qinqiang Food Co.,
2,860,693.66 37,475.13 2,830,831.83 37,083.91
receivable Ltd.
Accounts Other subsidiaries controlled by New
209,820.89 2,748.65 340,783.42 4,464.31
receivable Hope Holding Group Co., Ltd.
Accounts New Hope Dairy Co., Ltd. and other
608,560.56 7,972.15 75,800.88 992.99
receivable majority-owned subsidiaries
Sichuan Xinrong Nutrition
Accounts
Technology Co., Ltd. and its majority- 2,060,553.60 26,993.25 1,002,807.92 13,136.79
receivable
owned subsidiaries
Accounts Beijing Meihao Meideling Food Co.,
7,938,771.03 370,433.88 6,230,452.53 81,618.92
receivable Ltd.
Shenyang New Hope New
Accounts
Agricultural Industry Fund 0.00 0.00 733,288.09 9,606.07
receivable
Partnership (LP)
Chengdu Tianfu Xingxinxin Farming
Accounts
Technology Co., Ltd. and its majority- 244,084.28 214,114.42 215,555.08 2,823.76
receivable
owned subsidiaries
Accounts Yongchang New Hope Xuelan
75,341.80 986.98 0.00
receivable Livestock Co., Ltd.
Accounts Guangdong Hope No.1 Equity
0.00 0.00 32,069,968.02 2,548,445.50
receivable Investment Partnership (LP)
Accounts Grass Green Group Co., Ltd. and
2,596,524.05 34,014.52 2,764,737.94 36,218.07
receivable other majority-owned subsidiaries
Accounts Hainan Nongken New Hope Farming
7,774,119.10 101,840.97 940,580.00 56,550.92
receivable Technology Co., Ltd.
Xinzhi Huide Mechanical Technology
Accounts
Co., Ltd. and its majority-owned 37,775,411.98 11,366,540.60 37,585,632.78 5,983,175.93
receivable
subsidiaries
Accounts
Anhui Xinqiao Down Co., Ltd. 0.00 0.00 1,628,204.77 21,329.48
receivable
Accounts New Hope Cloud Selection
252.24 3.30 4,153.94 54.41
receivable (Chongqing) E-commerce Co., Ltd.
Accounts Anhui Antai Agricultural
139,032.35 1,821.32
receivable Development Co., Ltd.
Other subsidiaries controlled by New
Prepayments 0.00 0.00 18,300.00 0.00
Hope Holding Group Co., Ltd.
Prepayments New Hope Finance Co., Ltd. 27,648,431.44 0.00 31,852,278.87 0.00
Qingdao Big Herdsman Machinery
Prepayments Co., Ltd. and its majority-owned 137,220.14 0.00 517,784.77 0.00
subsidiaries
Shanghai Liuhe Qinqiang Food Co.,
Prepayments 0.00 0.00 4,668.00 0.00
Ltd.
Prepayments Sichuan New Hope Trade Co., Ltd. 57,985,814.53 0.00 74,902,894.18 0.00
Chengdu Tianfu Xingxinxin Farming
Prepayments Technology Co., Ltd. and its majority- 754.55 0.00 6,874.89 0.00
owned subsidiaries
Qingdao Fresh Life Technology
Prepayments 179,048.98 0.00 138,828.59 0.00
Service Co., Ltd.
Xinzhi Huide Mechanical Technology
Prepayments Co., Ltd. and its majority-owned 127,499.99 0.00 0.00
subsidiaries
Other Anhui Xinqiao Down Co., Ltd. 0.00 0.00 20,222,333.33 2,709,227.83
441
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
receivables
New Hope Property Service Group
Other
Co., Ltd. and its majority-owned 40,000.00 40,000.00 40,000.00 40,000.00
receivables
subsidiaries
Other New Hope Dairy Co., Ltd. and other
50,000.00 19,175.00 50,000.00 19,175.00
receivables majority-owned subsidiaries
Other Beijing Meihao Meideling Food Co.,
55,999,999.50 5,781,999.93 35,000,000.00 4,721,500.00
receivables Ltd.
Other Guangdong Hope No.1 Equity
35,300.00 7,659.00 25,300.00 3,886.55
receivables Investment Partnership (LP)
Other Zhanjiang Guangken Xinhao Farming
235,000.00 90,122.50 235,000.00 31,701.50
receivables Co., Ltd.
Chengdu Tianfu Xingxinxin Farming
Other
Technology Co., Ltd. and its majority- 120,485.00 6,084.52 742,495,543.53 37,496,024.95
receivables
owned subsidiaries
Shenyang New Hope New
Other
Agricultural Industry Fund 5,020.00 253.51 20.00 1.01
receivables
Partnership (LP)
Other Grass Green Group Co., Ltd. and its
120,000.00 107,670.00 120,000.00 46,020.00
receivables majority-owned subsidiaries
Other Shandong Hypor Liuhe Breeding Co.,
0.00 0.00 170,506.00 8,610.55
receivables Ltd.
Xinzhi Huide Mechanical Technology
Dividends
Co., Ltd. and its majority-owned 6,000,000.00 0.00 6,000,000.00 0.00
receivable
subsidiaries
New Hope Chemical Investment Co.,
Notes
Ltd. and its majority-owned 229,824.00 0.00 264,210.00 0.00
receivable
subsidiaries
Notes Anhui Antai Agricultural
10,000,000.00 0.00 8,000,000.00 0.00
receivable Development Co., Ltd.
Other non- Qingdao Big Herdsman Machinery
current Co., Ltd. and its majority-owned 14,691,190.71 0.00 14,378,433.71 0.00
assets subsidiaries
Other non-
Hangzhou Xingyuan Environmental
current 20,434,646.88 0.00 21,648,693.95 0.00
Protection Equipment Co., Ltd.
assets
Other non- Xinzhi Huide Mechanical Technology
current Co., Ltd. and its majority-owned 49,266,430.73 0.00 52,535,585.68 0.00
assets subsidiaries
Other non- Xingyuan Environment Technology
current Co., Ltd. and other majority-owned 22,700,299.43 0.00 26,140,299.43 0.00
assets subsidiaries
Other
current New Hope Finance Co., Ltd. 124,412,416.61 97,327,777.78 0.00
assets
(2) Payables
Unit: yuan
Ending book Beginning book
Project name Related party
balance balance
Accounts Qingdao Big Herdsman Machinery Co., Ltd. and its majority-
55,168,408.19 54,351,632.12
payable owned subsidiaries
Accounts
Beijing Porridge Jiahe Restaurant Management Co., Ltd. 787,979.05 2,056,422.06
payable
Accounts Sichuan Xingong Shengfei Construction Engineering Co., Ltd. 3,863.00 0.00
442
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
payable
Accounts Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd. and its
131,308.38 132,584.36
payable majority-owned subsidiaries
Accounts
Shandong Hypor Liuhe Breeding Co., Ltd. 11,215.00 13,215.00
payable
Accounts Other subsidiaries controlled by New Hope Holding Group Co.,
823,567.30 408,499.64
payable Ltd.
Accounts New Hope Property Service Group Co., Ltd. and its majority-
54,419.24 15,000.00
payable owned subsidiaries
Accounts Sichuan Xinrong Nutrition Technology Co., Ltd. and its majority-
10,547,472.65 4,876,859.21
payable owned subsidiaries
Accounts Grass Green Group Co., Ltd. and other majority-owned
6,428,848.18 5,524,216.75
payable subsidiaries
Accounts
Beijing Meihao Meideling Food Co., Ltd. 14,402.70 384,319.76
payable
Accounts
Qingdao Fresh Life Technology Service Co., Ltd. 1,627,820.30 3,662,785.12
payable
Accounts Hangzhou Xingyuan Environmental Protection Equipment Co.,
14,957,315.80 15,904,275.45
payable Ltd.
Accounts Chengdu Yunlizhi Technology Co., Ltd. and its majority-owned
33,656,212.11 66,370,875.25
payable subsidiaries
Accounts Xinzhi Huide Mechanical Technology Co., Ltd. and its majority-
56,425,144.73 96,672,191.79
payable owned subsidiaries
Accounts Xingyuan Environment Technology Co., Ltd. and other majority-
135,781,067.96 148,737,019.36
payable owned subsidiaries
Accounts
Yunnan Xinlong Mineral Feed Co., Ltd. 487,800.00 966,015.60
payable
Accounts
New Hope Cloud Selection (Chongqing) E-commerce Co., Ltd. 400.00 400.00
payable
Accounts New Hope Cloud Selection Chengdu Supply Chain Management
5,252.92 5,252.92
payable Co., Ltd. and its branch companies
Accounts
Sichuan New Hope Trade Co., Ltd. 246,661,158.45 0.00
payable
Accounts
New Hope Dairy Co., Ltd. and its majority-owned subsidiaries 12,960.00 0.00
payable
Contract
Anhui Xinqiao Down Co., Ltd. 15.33 0.00
liabilities
Contract Xinzhi Huide Mechanical Technology Co., Ltd. and its majority-
16,430.55 0.00
liabilities owned subsidiaries
Contract
Hebei Kinghey Sausage Casings Co., Ltd. 405,211.55 98,851.77
liabilities
Contract
New Hope Finance Co., Ltd. 798.74 788.00
liabilities
Contract
Anhui Antai Agricultural Development Co., Ltd. 425.00 34,000.00
liabilities
Contract
Anhui Xinhua Ducks Co., Ltd. 61,350.00 61,350.00
liabilities
Contract
Yan’an Xinyongxiang Technology Co., Ltd. 4,800,000.00 4,800,000.00
liabilities
Contract Sichuan Jixian Digital Intelligence Supply Chain Technology Co.,
642.91 0.00
liabilities Ltd.
Contract Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd. and its
38,056.61 105,643.73
liabilities majority-owned subsidiaries
Contract
Shanghai Liuhe Qinqiang Food Co., Ltd. 5,245,999.58 3,998,613.58
liabilities
Contract Other subsidiaries controlled by New Hope Holding Group Co.,
2,318,744.99 2,221,767.89
liabilities Ltd.
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Contract New Hope Chemical Investment Co., Ltd. and its majority-owned
525,368.50 805,050.00
liabilities subsidiaries
Contract
New Hope Dairy Co., Ltd. and other majority-owned subsidiaries 44,944.14 169,654.68
liabilities
Contract Sichuan Xinrong Nutrition Technology Co., Ltd. and its majority-
44,690.41 103,783.98
liabilities owned subsidiaries
Contract
Beijing Meihao Meideling Food Co., Ltd. 16.51 34,940.03
liabilities
Contract Grass Green Group Co., Ltd. and other majority-owned
200,368.32 81,009.75
liabilities subsidiaries
Contract Shandong Gongrong New Hope Equity Investment Fund
0.00 1,502,309.67
liabilities Partnership (LP)
Contract New Hope Property Service Group Co., Ltd. and its majority-
52,735.88 54,495.88
liabilities owned subsidiaries
Contract New Hope Cloud Selection Chengdu Supply Chain Management
166.76 3,466.67
liabilities Co., Ltd. and its branch companies
Contract
New Hope Cloud Selection (Chongqing) E-commerce Co., Ltd. 12,523.00 13,683.00
liabilities
Contract
Hainan Nongken New Hope Farming Technology Co., Ltd. 0.00 542,258.38
liabilities
Contract
Zhanjiang Guangken Xinhao Farming Co., Ltd. 0.00 1,293,577.98
liabilities
Other payables NHE (Beijing) Technology Co., Ltd. 609,910.31 609,910.31
Other payables Anhui Xinhua Ducks Co., Ltd. 9,071,000.00 9,071,000.00
Other payables Shanghai Liuhe Qinqiang Food Co., Ltd. 515,000.00 515,000.00
Other subsidiaries controlled by New Hope Holding Group Co.,
Other payables 104,989,967.73 144,382,890.54
Ltd.
Qingdao Big Herdsman Machinery Co., Ltd. and its majority-
Other payables 221,653.06 207,261.46
owned subsidiaries
Grass Green Group Co., Ltd. and other majority-owned
Other payables 130,000.00 330,500.00
subsidiaries
Other payables Beijing Meihao Meideling Food Co., Ltd. 12,588,315.01 330,730.81
Other payables Yan’an Xinyongxiang Technology Co., Ltd. 1,500,000.00 1,500,000.00
Other payables Sichuan Chuanwazi Food Co., Ltd. 20,000.00 20,000.00
Other payables Qingdao Fresh Life Technology Service Co., Ltd. 11.00 7,339.00
Other payables Sichuan Xingong Shengfei Construction Engineering Co., Ltd. 5,000.00 5,000.00
Chengdu Tianfu Xingxinxin Farming Technology Co., Ltd. and its
Other payables 200,577,016.51 222,834,726.58
majority-owned subsidiaries
Chengdu Yunlizhi Technology Co., Ltd. and its majority-owned
Other payables 4,864,114.62 6,623,082.54
subsidiaries
Xinzhi Huide Mechanical Technology Co., Ltd. and its majority-
Other payables 230,324.00 224,563.00
owned subsidiaries
Other payables New Hope Dairy Co., Ltd. and its majority-owned subsidiaries 0.00 1,282,271.70
Xingyuan Environment Technology Co., Ltd. and other majority-
Other payables 50,000.00 350,000.00
owned subsidiaries
Other payables Shandong Hypor Liuhe Breeding Co., Ltd. 3,600,000.00 100,000.00
Other payables Sichuan New Hope Industrial Co., Ltd. 0.00 12,000.00
Qingdao Big Herdsman Machinery Co., Ltd. and its majority-
Notes payable 6,498,107.51 53,839,071.00
owned subsidiaries
Grass Green Group Co., Ltd. and other majority-owned
Notes payable 0.00 551,740.00
subsidiaries
Notes payable Sichuan Xingong Shengfei Construction Engineering Co., Ltd. 0.00 6,639,012.03
Xinzhi Huide Mechanical Technology Co., Ltd. and its majority-
Notes payable 13,634,327.15 6,644,246.70
owned subsidiaries
Notes payable Sichuan New Hope Trade Co., Ltd. 792,263,971.14 432,592,024.08
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XIII. Share-based payments
1. Overview of share-based payments
applicable □not applicable
Unit: yuan
Total amount of various equity instruments of the company
0.00
granted in the current period
Total amount of various equity instruments of the company
0.00
exercised in the current period
Total amount of various equity instruments of the company
438,750.00
lapsed in the current period
Range of exercise price and remaining term of contract for
stock options of the company issued and outstanding at the end None
of period
The number of restricted shares issued and outstanding under
the Restricted Stock and Stock Option Incentive Plan 2019 is
438,800, with an exercise price of 8.16 yuan/share, and an
unlocking period from the grant day, i.e. July 18, 2019, to the
last trading day within 48 months thereafter;
The number of restricted shares issued and outstanding under
the Restricted Stock Incentive Plan 2022 is 33,275,000, with an
Range of exercise prices and remaining terms of contract for
exercise price of 7.98 yuan/share, and an unlocking period
other equity instruments of the company issued and outstanding
from the grant day, i.e. July 25, 2022, to the last trading day
at the end of period
within 12 months, 24 months and 36 months thereafter; the
number of restricted shares issued and outstanding under the
Employee Stock Ownership Plan 2022 is 40,933,250, with an
exercise price of 7.98 yuan/share, and an unlocking period
from the date of completion of the non-transaction transfer to
the last trading day within 12 months, 24 months and 36
months thereafter.
Other remarks
(1) Decision-making procedure performed under the stock incentive plan:
A. Restricted Stock and Stock Option Incentive Plan 2019
On May 8, 2019, the company held the 44th meeting of the 7th board of directors, and deliberated and accepted the Proposal
regarding the ‘Restricted Stock and Stock Option Incentive Plan 2019 (Draft) of New Hope Liuhe Co., Ltd.’ and its Summary , the
Proposal regarding the ‘Assessment Management Measures of Restricted Stock and Stock Option Incentive Plan 2019 of New
Hope Liuhe Co., Ltd.’ and the Proposal regarding Requesting the General Meeting to Authorize Board of Directors to Handle
Stock Incentive Related Matters. On June 6, 2019, the company held the first extraordinary general meeting in 2019, and
deliberated and accepted the aforesaid proposals. On July 4, 2019, the company held the 2nd meeting of the 8th board of directors,
and deliberated and accepted the Proposal regarding Grant of Restricted Stocks and Stock Options to Incentive Beneficiaries.
B. Restricted Stock Incentive Plan 2022
On April 26, 2022, the company held the 52nd meeting of the 8th board of directors, and deliberated and accepted the Proposal
regarding the ‘Restricted Stock Incentive Plan 2022 (Draft) of New Hope Liuhe Co., Ltd.’ and its Summary, the Proposal
regarding the ‘Assessment Management Measures for the Restricted Stock Incentive Plan 2022 of New Hope Liuhe Co., Ltd.’ and
the Proposal regarding Requesting the General Meeting to Authorize Board of Directors to Handle Stock Incentive Related
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Matters. On May 31, 2022, the company held the annual general meeting of 2021, and deliberated and accepted the aforesaid
proposals. On July 25, 2022, the company held the 3rd meeting of the 9th board of directors, and deliberated and accepted the
Proposal on Adjusting Matters Related to the Restricted Stock Incentive Plan 2022 and the Proposal on Granting Restricted
Stocks to Incentive Beneficiaries for the First Time
C. Employee Stock Ownership Plan 2022
On April 26, 2022, the company held the 52nd meeting of the 8th board of directors, and deliberated and accepted the Proposal
regarding the ‘Employee Stock Ownership Plan 2022 (Draft) of New Hope Liuhe Co., Ltd.’ and its Summary , the Proposal
regarding the ‘Management Measures for the Employee Stock Ownership Plan 2022 of New Hope Liuhe Co., Ltd.’ and the
Proposal regarding Requesting the General Meeting to Authorize Board of Directors to Handle Matters Related to the Employee
Stock Ownership Plan 2022. On May 31, 2022, the company held the annual general meeting of 2021, and deliberated and
accepted the aforesaid proposals.
(2) The source of stocks under the stock incentive plan, incentive beneficiaries and the date of first grant
Restricted Stock and Stock Option Incentive Plan 2019: the source of stocks for this equity incentive plan is ordinary A-shares
of the company repurchased from secondary market; the total number of incentive beneficiaries who were first granted stock
incentive under this stock incentive plan was 24, including senior executives of the company and its branches and subsidiaries and
other core managers/technicians that the board of directors deemed to have direct effects on the company’s business performance
and future development; the date of first grant of restricted stocks and stock options was July 18, 2019.
B. Restricted Stock Incentive Plan 2022: the source of stocks for this restricted stock incentive plan is ordinary RMB A-shares
of the company issued by the company to incentive beneficiaries. The number of restricted shares planned to be granted to
incentive beneficiaries was 41.37 million, of which 33.275 million restricted shares were granted for the first time and 8.095
million restricted shares were reserved for granting. The total number of incentive beneficiaries who were first granted stock
incentive under this stock incentive plan was 199, including directors, senior executives, core technician/business personnel of the
company (including majority-owned subsidiaries); the date of first grant under this incentive plan was July 25, 2022.
C. Employee Stock Ownership Plan 2022: the source of stocks for this ESOP is ordinary A-share of New Hope repurchased
through the company’s special account for repurchase; the total number of employees included in the ESOP at the time of its
establishment was less than 2,326, and they are supervisors and core employees of the company (including majority-owned
subsidiaries); on September 30, 2022, the shares in the company’s special account for repurchase were non-transaction transferred
to the “New Hope Liuhe Co., Ltd.- Employee Stock Ownership Plan 2022” account.
(3) Stock incentives meeting conditions for exercise
Restricted Stock and Stock Option Incentive Plan 2019
A. On August 6, 2020, the company held the 19th meeting of the 8th board of directors and the 10th meeting of the 8th board of
supervisors, deliberating and approving the Proposal regarding the First Exercise Period /Exercise in Lifted Period/Satisfaction of
Conditions for Lifting of Sales Restrictions under the Restricted Stock and Stock Option Incentive Plan 2019, according to which
the company granted restricted stocks to a total of 23 incentive beneficiaries eligible for lifting of sales restrictions in the first
lifted period under this incentive plan, with 877,500 restricted stocks released for sale; a total of 23 incentive beneficiaries eligible
for exercise in the first exercise period were granted 4,095,000 exercisable stock options.
B. On August 9, 2021, the company held the 41st meeting of the 8th board of directors and the 21st meeting of the 8th board of
supervisors, deliberating and approving the Proposal regarding the Second Exercise Period /Exercise in Lifted Period/Satisfaction
of Conditions for Lifting of Sales Restrictions under the Restricted Stock and Stock Option Incentive Plan 2019, according to
which the company granted restricted stocks to a total of 15 incentive beneficiaries eligible for lifting of sales restrictions in the
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second lifted period under this incentive plan, with 438,750 shares of restricted stocks released for sale; a total of 15 incentive
beneficiaries eligible for exercise in the second exercise period were granted 2,047,500 exercisable stock options.
Cancellation of part of stock options and repurchase of part of restricted stocks for cancellation
A. Restricted Stock and Stock Option Incentive Plan 2019. According to the resolutions of the 19th meeting of the 8th board of
directors and the first extraordinary general meeting in 2020 of the company, the Proposal to Cancel Some Stock Options and
Repurchase Some Restricted Stocks for Cancellation was deliberated and approved. Give that 1 incentive beneficiary’s
performance appraisal result was “subject to improvement” in the first exercise/lifted period under the company’s Restricted Stock
and Stock Option Incentive Plan 2019, meeting 50% of the conditions for exercise/lifting in the period; and that 1 incentive
beneficiary’s performance appraisal result was “nonconforming”, not eligible to exercise the current stock options, which shall be
canceled by the company, the restricted stocks shall not be released for sale in the current period but shall be repurchased by the
company for cancellation. The company canceled a total of 105,000 stock options granted but not yet exercised, repurchased for
cancellation 22,500 shares of restricted stocks granted but not yet released for sale, and has completed the cancellation of such part
of stock options and restricted stocks as of the end of this reporting period.
B. According to the resolutions of the 28th meeting of the 8th board of directors and the first extraordinary general meeting in
2021 of the company, the Proposal to Cancel Some Stock Options and Repurchase Some Restricted Stocks for Cancellation was
deliberated and approved. Given that 7 of the original incentive beneficiaries left office, the restricted stocks granted to them but
not yet released for sale may not be released for sale and shall be repurchased by the company for cancellation if the incentive
beneficiaries quited voluntarily according to related provisions of the Restricted Stock and Stock Option Incentive Plan 2019
(Draft); stock options granted but not yet exercised may not be exercised but shall be canceled by the company. The company
canceled a total of 2,835,000 stock options granted but not yet exercised, repurchased for cancellation 1,215,000 shares of
restricted stocks granted but not yet released for sale, and has completed the cancellation of such part of stock options and
restricted stocks as of the end of this reporting period.
C. According to the resolutions of the 41st meeting of the 8th board of directors and the first extraordinary general meeting in
2022 of the company, the Proposal to Cancel Some Stock Options and Repurchase Some Restricted Stocks for Cancellation was
deliberated and approved. Given that 2 of the original incentive beneficiaries left office, the restricted stocks granted to them but
not yet released for sale may not be released for sale and shall be repurchased by the company for cancellation if the incentive
beneficiaries quited voluntarily according to related provisions of the Restricted Stock and Stock Option Incentive Plan 2019
(Draft); stock options granted but not yet exercised may not be exercised but shall be canceled by the company; moreover,
according to the Measures for the Management of Equity Incentives of Listed Companies, upon the end of each exercise period of
stock options, current stock options not exercised by incentive beneficiaries shall cease to be exercised and shall be canceled by
listed companies in a timely manner. The company canceled a total of 1,246,445 stock options granted but not yet exercised,
repurchased for cancellation 168,750 shares of restricted stocks granted but not yet released for sale, and has completed the
cancellation of such part of stock options and restricted stocks as of the end of this reporting period.
D. At the 4th meeting of the 9th board of directors and the second extraordinary general meeting in 2022, the Proposal on Failure
in Meeting the Lifting Conditions in the Third Lifting Period under the Restricted Stock and Stock Option Incentive Plan 2019 and
Repurchase and Cancellation of Restricted Stocks and Proposal on Cancellation of Stock Options under the Restricted Stock and
Stock Option Incentive Plan 2019 were deliberated and approved. Given that the net profit of the company in 2021 was negative,
not meeting the performance assessment requirements set in the third lifting period under the Restricted Stock and Stock Option
Incentive Plan 2019, the company decided to repurchase and cancel a total of 438,750 restricted shares held by 15 incentive
beneficiaries under the Incentive Plan 2019 that have not been released for sale. In addition, given that the first grant under the
Restricted Stock and Stock Option Incentive Plan 2019 has two exercise periods, and the second exercise period is from May 27,
2022 to July 15, 2022, the second exercise period of the 15 incentive beneficiaries involved has expired, with 0 option exercised
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and 2,047,500 options not exercised. In accordance with the relevant provisions, the company decided to cancel a total of
2,047,500 stock options that have not been exercised by 15 incentive beneficiaries under the Restricted Stock and Stock Option
Incentive Plan 2019 during the second exercise period. The company completed the cancellation of the above restricted stocks and
stock options in February 2023.
2. Share-based payments settled in equities
applicable □not applicable
Unit: yuan
Determination of fair value of equity instruments at the grant The fair value of equity instruments at the grant date was
date determined based on Black-Scholes pricing model.
Estimated based on the achievement of performance conditions
Basis of determination of the number of vested equity of the company and personal performance appraisal results, of
instruments which the company’s performance conditions include business
revenue and operating net profit growth indicators
Causes of significant difference between the current estimates
——
and prior-period estimates
Accumulated amount of share-based payment settled in equities
265,039,348.21
included in capital reserve
Total expenses recognized for share-based payment settled in
130,945,221.77
equities in the current period
Other remarks
3. Share-based payments settled in cash
□applicable not applicable
4. Modifications to and termination of share-based payment
None
XIV. Commitments and contingencies
1. Material commitments
Material commitments existing at the balance sheet date
2. Contingencies
(1) Material contingencies existing at the balance sheet date
The company had no contingencies to disclose.
(2) Specify any material contingencies that the company is not required to disclose
The company had no material contingencies to disclose.
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XV. Events after the balance sheet date
1. Material non-adjusting events
The company had no material non-adjusting events to disclose
XVI. Other important matters
1. Segment information
(1) Basis of determination of reporting segments and their accounting policies
The company determines operating segments based on internal organizational structure, management requirements and internal
reporting policies, which refer to the components that meet all of the following conditions:
1) Such components can generate revenue and incur expenses in day-to-day activities;
2) The company management can evaluate the business results of such components on a regular basis to determine allocation of
resources to them and evaluate their performance;
3) The financial condition, business results, cash flow and other related accounting information about such components are
available. The company classifies its segment information by region and industry.
(2) Financial information of reporting segments
Unit: yuan
Inter-segment
Item Overseas Domestic Total Total
offset
Business revenue 9,495,949,647.11 59,956,930,799.03 69,452,880,446.14 69,452,880,446.14
Operating costs 8,785,247,512.30 59,411,181,870.19 68,196,429,382.49 68,196,429,382.49
353,011,515,782.0 370,327,551,660.5 235,196,751,725.7 135,130,799,934.8
Total assets 17,316,035,878.52
7 9 2 7
271,580,781,511.1 283,041,309,008.7 186,025,644,708.1
Total liabilities 11,460,527,497.68 97,015,664,300.66
0 8 2
(3) Specify the reason why the company has no reporting segments or cannot disclose total assets or total
liabilities of each reporting segment
No other matters to be disclosed.
(4) Other remarks
Segment information determined to be reported based on industry distribution
Item Business revenue Operating costs Total assets Total liabilities
Feeds 39,151,609,640.34 37,185,725,284.70 38,059,734,553.31 31,035,361,917.27
Pig business 10,632,213,329.05 11,859,740,622.89 101,766,523,523.94 95,156,243,982.90
Poultry business 9,653,511,379.76 9,210,199,943.00 11,647,079,878.90 10,444,058,236.64
Food 5,807,303,836.73 5,951,088,552.07 6,917,432,533.61 4,344,856,646.29
Commerce and
3,798,296,892.86 3,755,865,522.33 16,191,786,131.71 17,826,567,096.17
trade
Others 409,945,367.40 233,809,457.50 195,744,995,039.12 124,234,221,129.51
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Total 69,452,880,446.14 68,196,429,382.49 370,327,551,660.59 283,041,309,008.78
Minus: internal
235,196,751,725.72 186,025,644,708.12
offset
Total after offset 69,452,880,446.14 68,196,429,382.49 135,130,799,934.87 97,015,664,300.66
2. Other significant transactions and events that affect the investor decisions
There is no other significant transactions and events that affect the investor decisions.
3. Others
(1) As a lessee
Item Current amount
Interest expense on lease liabilities 133,845,343.23
Short-term leases and low-value leases treated in a simplified manner 61,518,677.00
Variable lease payments not included in measurement of lease liabilities
Revenue acquired from subletting of right-of-use assets 7,122,182.76
Total cash outflows related to lease 424,864,890.75
Lease assets leased by the company include land use right, pig farms, houses and buildings, machinery and equipment and
transport equipment, etc; the lease term of land use right is generally 8 to 30 years, 5 to 20 years for pig farms, 5 to 30 years for
houses and buildings, 5 to 7 years for machinery and equipment, and 3 to 4 years for transport equipment. Some of lease contracts
contain renewal option, and the company has reasonably estimated exercise of renewal options when measuring lease liabilities
and determining lease terms.
(2) As a lessor
Item Current amount
Income from lease 31,922,156.32
Wherein: revenue related to variable lease payments not included in lease
proceeds
The company leased out part of the houses and buildings, factory buildings and equipment, with lease term ranging from 3
years to 10 years. The company classifies such leases as operating leases, as such leases don’t substantially transfer almost all risk
and reward related to asset ownership.
The undiscounted lease proceeds to be received by the company after the balance sheet date are as follows:
Item Amount
Less than 1 year (inclusive) 54,319,936.45
1-2 years 38,157,619.74
2-3 years 34,450,822.39
3-4 years 14,892,931.35
4-5 years 12,473,925.86
Over 5 years 10,752,983.69
Total 165,048,219.48
The company has no external lease classified as financing lease.
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XVII. Notes to key items of financial statements of the parent company
1. Accounts receivable
(1) Accounts receivable disclosed by category
Unit: yuan
Ending balance Beginning balance
Book balance Bad debt provision Book balance Bad debt provision
Categor
y Proporti Book Proporti Book
Proporti value Proporti value
Amount Amount on Amount Amount on
on on
accrued accrued
Wher
ein:
Account
s
receivab
le with
provisio 58,985.0 58,212.3 1,229,27 16,103.4 1,213,16
100.00% 772.70 1.31% 100.00% 1.31%
n for bad 0 0 3.34 9 9.85
debts on
a
portfolio
basis
Wher
ein:
58,985.0 58,212.3 1,229,27 16,103.4 1,213,16
Total 100.00% 772.70 1.31% 100.00% 1.31%
0 0 3.34 9 9.85
Provision for bad debts by portfolio: domestic accounts receivable with provision for bad debts by portfolio
Unit: yuan
Ending balance
Name
Book balance Bad debt provision Proportion accrued
Low risk 58,985.00 772.70 1.31%
Total 58,985.00 772.70
Remarks on basis for determination of this portfolio:
For accounts receivable classified as risk portfolio, the company prepares the table of comparison between ages of accounts
receivable and expected credit loss rate during the entire existence and calculates the expected credit loss by reference to the
historical credit loss experience and in light of the current situation and forecast future economic situation.
Accounts receivable of domestic companies
S/N Risk analysis Expected credit loss rate
1 Low risk 1.31%
2 Relatively lower risk 6.78%
3 High risk 100.00%
In case of bad debt provision for accounts receivable accrued by general model of expected credit loss, please disclose related
information about bad debt provision by reference to the disclosure mode of other receivables:
□applicable not applicable
Disclosure by age
Unit: yuan
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Age Ending balance
Less than 1 year (inclusive) 58,985.00
Wherein: less than 6 months 58,985.00
Total 58,985.00
(2) Bad debt provision accrued, recovered or reversed in the current period
Bad debt provision accrued in the current period:
Unit: yuan
Current change
Category Beginning balance Recovered or Charged Ending balance
Accrued Others
reversed off
Bad debt provision for account
16,103.49 15,330.79 772.70
receivables
Total 16,103.49 15,330.79 772.70
Of which, significant recovered or reversed amounts of bad debt provision in this period are:
(3) Top 5 accounts receivable in ending balance by debtor
Unit: yuan
Percentage in the total ending
Ending balance of accounts Ending balance of bad debt
Entity Name balance of accounts
receivable provision
receivable
Liao Guisheng 58,985.00 100.00% 772.70
Total 58,985.00 100.00%
2. Other receivables
Unit: yuan
Item Ending balance Beginning balance
Dividends receivable 427,379,820.86 458,939,437.50
Other receivables 79,449,317,223.85 76,384,155,430.15
Total 79,876,697,044.71 76,843,094,867.65
(1) Dividends receivable
(1) Dividends receivable by category
Unit: yuan
Project (or invested entity) Ending balance Beginning balance
Beijing New Hope Liuhe Biotechnology
300,000,000.00 300,000,000.00
Industry Group Co., Ltd.
Yunnan New Hope Liuhe Breeding Co.,
70,996,006.97 70,996,006.97
Ltd.
Yongzhou New Hope Liuhe Feed Co.,
37,995,309.36 37,995,309.36
Ltd.
Hainan New Hope Agriculture Co., Ltd. 15,206,887.34 15,206,887.34
Wulong New Hope Liuhe Feed Co., Ltd. 2,393,442.74
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Zunyi Jiahao Feed Co., Ltd. 788,174.45
Guangyuan New Hope Liuhe Farming
0.00 34,741,233.83
Technology Co., Ltd.
Total 427,379,820.86 458,939,437.50
(2) Other receivables
1) Other receivables categorized by nature of amount
Unit: yuan
Nature of amount Ending book balance Beginning book balance
Receivables within the scope of
79,379,908,737.75 76,099,585,877.60
consolidated statements
Petty cash 1,525,546.86 1,526,336.90
Margins and deposits 20,078,321.19 20,776,370.65
Temporary borrowings 60,048,046.92 284,686,338.95
Others 1,125,000.00 1,125,000.00
Total 79,462,685,652.72 76,407,699,924.10
2) Bad debt provision accrued
Unit: yuan
Phase 1 Phase 2 Phase 3
Expected credit loss
Bad debt provision Expected credit loss Total
Expected credit loss in over the entire duration
over the entire duration
the coming 12 months (with credit
(no credit impairment)
impairment)
Balance as of Jan. 1,
19,144,154.88 4,400,339.07 23,544,493.95
2023
Balance as of Jan. 1,
2022
in the current period
--transferred to phase 3 -857,924.46 857,924.46
Current reversal 10,176,065.08 10,176,065.08
Balance as of Jun. 30,
8,110,165.34 5,258,263.53 13,368,428.87
2023
Changes in book balance with respect to which current changes in the loss provision are significant
□applicable not applicable
Disclosure by age
Unit: yuan
Age Ending balance
Less than 1 year (inclusive) 79,414,852,321.71
1-2 years 40,152,952.79
2-3 years 2,422,114.69
Over 3 years 5,258,263.53
3-4 years 1,085,161.52
4-5 years 1,161,097.98
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Over 5 years 3,012,004.03
Total 79,462,685,652.72
3) Bad debt provision accrued, recovered or reversed in the current period
Bad debt provision accrued in the current period:
Unit: yuan
Current change
Category Beginning balance Recovered or Charged Ending balance
Accrued Others
reversed off
Bad debt provision for other
23,544,493.95 10,176,065.08 13,368,428.87
receivables
Total 23,544,493.95 10,176,065.08 13,368,428.87
Balance of the company’s bad debt provision for other receivables was 23,544,493.95 yuan at the end of the previous year;
bad debt provision reversed in the current period was 10,176,065.08 yuan.
4) Top 5 other receivables in ending balance by debtor
Unit: yuan
Ending
Percentage in the total
Nature of balance of
Entity Name Ending balance Age ending balance of
amount bad debt
other receivables
provision
Beijing New Hope Liuhe
Internal current Less than 1
Biotechnology Industry Group Co., 10,811,880,642.06 13.61%
accounts year
Ltd.
Golden Oak Investment Holdings Internal current Less than 1
6,426,319,509.00 8.09%
(Tianjin) Co., Ltd. accounts year
Internal current Less than 1
Tongliao Xinhao Farming Co., Ltd. 2,157,794,411.00 2.72%
accounts year
Yangling Besun Agricultural Internal current Less than 1
1,800,000,000.00 2.27%
Industry Group Co., Ltd. accounts year
Internal current Less than 1
New Hope Liuhe Feed Co., Ltd. 1,421,038,718.74 1.79%
accounts year
Total 22,617,033,280.80 28.48%
3. Long-term equity investments
Unit: yuan
Ending balance Beginning balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Investment in
16,883,967,754.45 16,883,967,754.45 15,459,890,278.34 15,459,890,278.34
subsidiaries
Investments in
affiliates and 1,649,486,598.36 1,649,486,598.36 1,612,600,023.69 1,612,600,023.69
joint ventures
Total 18,533,454,352.81 18,533,454,352.81 17,072,490,302.03 17,072,490,302.03
454
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
(1) Investment in subsidiaries
Unit: yuan
Current increase or decrease Ending
Beginning Ending
Invested Impairment balance of
balance Additional Reduced balance
entity provision Others impairment
(book value) investment investment (book value)
accrued provision
Hainan New
Hope 10,784,799.1 10,784,799.1
Agriculture 8 8
Co., Ltd.
Mianyang
New Hope
Liuhe 20,000,000.0 20,000,000.0
Farming 0 0
Technology
Co., Ltd.
Guanghan
Guoxiong 12,247,149.1 12,247,149.1
Feed Co., 4 4
Ltd.
Kunming
New Hope
Agricultural 9,966,510.03 9,966,510.03
Technology
Co., Ltd.
Zunyi Jiahao
Feed Co., 6,995,416.81 6,995,416.81
Ltd.
Qujing
Guoxiong
3,943,229.08 3,943,229.08
Feed Co.,
Ltd.
Beijing New
Hope
Farming 7,500,000.00 7,500,000.00
Technology
Co., Ltd.
Hebei New
20,000,000.0 20,000,000.0
Hope Feed
0 0
Co., Ltd.
Taizhou New
Hope 10,312,595.8 10,312,595.8
Agriculture 3 3
Co., Ltd.
Lhasa New
Hope 22,000,000.0 22,000,000.0
Industrial 0 0
Co., Ltd.
Mangshi
New Hope
10,000,000.0 10,000,000.0
Farming
0 0
Technology
Co., Ltd.
Kunming 20,172,466.6 20,172,466.6
New Hope 7 7
455
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Animal
Nutritious
Food Co.,
Ltd.
Emeishan
New Hope 10,000,000.0 10,000,000.0
Liuhe Feed 0 0
Co., Ltd.
Wulong New
Hope Liuhe 10,000,000.0 10,000,000.0
Feed Co., 0 0
Ltd.
Baoji New
Hope 20,150,908.3 20,150,908.3
Farming Co., 3 3
Ltd.
Sanyuan
New Hope 20,000,000.0 20,000,000.0
Feed Co., 0 0
Ltd.
Wuzhou
New Hope 10,000,000.0 10,000,000.0
Liuhe Feed 0 0
Co., Ltd.
Guangxi
New Hope
10,000,000.0 10,000,000.0
Liuhe
0 0
Breeding
Co., Ltd.
Yongzhou
New Hope 15,000,000.0 15,000,000.0
Liuhe Feed 0 0
Co., Ltd.
Huanggang
New Hope
20,000,000.0 20,000,000.0
Feed
0 0
Technology
Co., Ltd.
Huaihua
New Hope 20,000,000.0 20,000,000.0
Liuhe Feed 0 0
Co., Ltd.
Yingtan New
20,000,000.0 20,000,000.0
Hope Feed
0 0
Co., Ltd.
Ningxia New
Hope
Ruminant
20,150,908.3 20,150,908.3
Animal
3 3
Nutritious
Food Co.,
Ltd.
Xiangyang
New Hope 20,000,000.0 20,000,000.0
Liuhe Feed 0 0
Co., Ltd.
Zunyi New 10,000,000.0 10,000,000.0
456
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Hope Liuhe 0 0
Agricultural
Technology
Co., Ltd.
Guangzhou
48,972,466.6 48,972,466.6
Liuhe Feed
7 7
Co., Ltd.
Sichuan
Xinle
4,023,039.62 4,023,039.62
Plastics Co.,
Ltd.
Jiangsu
Tiancheng
40,800,000.0 40,800,000.0
Healthcare
0 0
Products Co.,
Ltd.
New Hope
Liuhe 503,191,958. 503,191,958.
Investment 85 85
Co., Ltd.
Sichuan New
Hope Liuhe
18,495,841.6 18,495,841.6
Technologica
7 7
l Innovation
Co., Ltd.
New Hope
Liuhu Food 100,000,000. 100,000,000.
Holdings 00 00
Co., Ltd.
Yunnan New
Hope Liuhe
2,431,166.67 2,431,166.67
Breeding
Co., Ltd.
Tibet Linzhi
New Hope
12,081,000.0 12,081,000.0
Liuhe
0 0
Breeding
Co., Ltd.
Santai New
Hope
Farming 30,000,000.0 30,000,000.0
0.00
Financing 0 0
Guarantee
Co., Ltd.
Chengdu
Fenglan 50,713,650.0 50,713,650.0
Technology 0 0
Co., Ltd.
Guangyuan
New Hope
Liuhe
3,000,000.00 3,000,000.00
Farming
Technology
Co., Ltd.
Tianjin
100,000,000. 100,000,000.
Dingcheng
00 00
Zhizi
457
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Investment
Co., Ltd.
Golden Oak
Investment
300,000,000. 300,000,000.
Holdings
00 00
(Tianjin) Co.,
Ltd.
Yangling
Besun
Agricultural 1,736,359,48 1,736,359,48
Industry 5.75 5.75
Group Co.,
Ltd.
Chongqing
Tongliang
New Hope
Liuhe 3,000,000.00 3,000,000.00
Farming
Technology
Co., Ltd.
Qingdao
Xinhang
50,000,000.0 50,000,000.0
Engineering
0 0
Management
Co., Ltd.
Qingdao
Feidake Food
2,100,000.00 2,100,000.00
Technology
Co., Ltd.
Beijing New
Hope Liuhe
Biotechnolog 502,678,173. 502,678,173.
y Industry 17 17
Group Co.,
Ltd.
New Hope
1,049,702,60 1,049,702,60
Singapore
2.80 2.80
Pte. Ltd.
New Hope
International 94,167,694.5 94,167,694.5
Holdings 0 0
(Pte.) Ltd.
Sichuan New
Hope Liuhe 3,252,335,89 3,252,335,89
Farming Co., 4.98 4.98
Ltd
Shandong
New Hope 5,973,827,05 1,300,000,00 7,273,827,05
Liuhe Group 4.90 0.00 4.90
Co., Ltd.
New Hope
481,111,323. 481,111,323.
Liuhe Feed
70 70
Co., Ltd.
Xintai New
Hope Feed 4,800,000.00 4,800,000.00
Co., Ltd.
Sichuan New 566,578,358. 566,578,358.
458
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Hope Animal 33 33
Nutrition
Technology
Co., Ltd.
Qingdao
Xinmu Zhihe 11,200,000.0 11,200,000.0
Technology 0 0
Co., Ltd.
Guangdong
Jiahao
50,603,633.3 50,603,633.3
Agricultural
3 3
Products Co.,
Ltd.
Tianjin
Yunxiang
Enterprise
75,250,000.0 75,250,000.0
Management
0 0
Consulting
Partnership
(LP)
Xiamen New
Hope Liuhe
100,000,000. 100,000,000.
Agricultural
00 00
Supply Chain
Co., Ltd.
33,242,950.0 54,077,476.1 87,320,426.1
Others
0 1 1
15,459,890,2 1,454,077,47 30,000,000.0 16,883,967,7
Total
78.34 6.11 0 54.45
(2) Investments in affiliates and joint ventures
Unit: yuan
Current increase or decrease
Profit
or loss Ending
Cash
Beginni on Adjust balance
dividen Ending
ng investm ment Impair of
Investe Additio Reduce ds or balance
balance ent for Other ment impair
d entity nal d profits (book
(book recogni other equity provisi Others ment
investm investm declare value)
value) zed compre changes on provisi
ent ent d for
using hensive accrued on
distribu
the income
tion
equity
method
I. Joint ventures
Beijing
Meihao
Meideli
ng
Food
Co.,
Ltd.
II. Affiliates
New 1,195,7 41,144, 1,236,9
459
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Hope 58,429. 314.11 02,744.
Finance 99 10
Co.,
Ltd.
Chengd
u
Tianfu
Xingxi
nxin -
416,841 412,583
Farmin 4,257,7
,593.70 ,854.26
g 39.44
Techno
logy
Co.,
Ltd.
1,612,6 1,649,4
Subtota 36,886,
00,023. 86,598.
l 574.67
69 36
1,612,6 1,649,4
36,886,
Total 00,023. 86,598.
574.67
69 36
(3) Other remarks
Note: as the net assets of Beijing Meihao Meideling Food Co., Ltd. were negative, the company wrote the investment cost
down to 0 using the equity method.
4. Business revenue and operating costs
Unit: yuan
Current amount Amount of the previous period
Item
Revenue Cost Revenue Cost
Main business 336,765,390.08 334,692,681.57 368,336,925.09 352,875,726.01
Other businesses 995,871.77 14,412,549.84
Total 337,761,261.85 334,692,681.57 382,749,474.93 352,875,726.01
Revenue related information: information related to performance obligations: none
Information related to transaction prices allocated to remaining performance obligations:
The amount of revenue corresponding to performance obligations already contracted but not yet performed or completed at the end
of this reporting period is 21,225,041.95 yuan, of which 21,225,041.95 yuan is expected to be recognized in 2023, yuan is
expected to be recognized in , and yuan is expected to be recognized in .
5. Investment income
Unit: yuan
Item Current amount Amount of the previous period
Income on long-term equity investments accounted
120,751,457.95 518,373,420.79
for under the cost method
Income on long-term equity investments accounted
36,886,574.67 5,185,004.86
for under the equity method
460
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
Investment income from disposal of long-term
9,435,000.00
equity investments
Investment income from disposal of other equity
6,784,000.00
instruments
Total 173,857,032.62 523,558,425.65
XVIII. Additional information
1. Detailed statement of current non-recurring profits and losses
applicable □not applicable
Unit: yuan
Item Amount Remarks
Profit or loss from disposal of non-current assets (including the charged-off portion of
-149,861,921.05
the accrued provision for asset impairment)
Government subsidies included in current profit or loss (excluding government subsidies
which are closely related to the business operations of the company and consistently
132,933,084.35
granted according to certain standard quota or ration in compliance with national
policies)
Profit or loss from change in fair value of trading financial assets and trading financial
liabilities held, and investment income from disposal of held-for-trading financial assets,
-10,251,616.44
held-for-trading financial liabilities and available-for-sale financial assets, except for
effective hedging transactions related to normal business operations of the company
Reversal of impairment provision for receivables subject to separate impairment test 17,488,973.85
Other profit or loss items that conform to the definition of non-recurring profit or loss -11,413,392.26
Minus: effect of income tax 7,982,936.28
Effect of minority interest -38,342,396.65
Total 9,254,588.82 --
Details of other profit or loss items that conform to the definition of non-recurring profit or loss:
□applicable not applicable
The company has no other profit or loss items that conform to the definition of non-recurring profit or loss.
Description of non-recurring profit or loss items enumerated in the Explanatory Announcement No. 1 on Information Disclosure
for Companies Offering their Securities to the Public– Non-recurring Profit or Loss classified as recurring profit or loss items
□applicable not applicable
2. Return on equity and earnings per share
Weighted Earnings per share
Profits during the reporting period average Basic earnings per share Diluted earnings per share
ROE (yuan/share) (yuan/share)
Net profits attributable to ordinary shareholders of the
-11.56% -0.67 -0.67
company
Net profits attributable to ordinary shareholders of the
-11.60% -0.67 -0.67
company net of non-recurring profit or loss
461
Full text of the Semiannual Report 2023 of New Hope Liuhe Co., Ltd.
3. Accounting data difference under domestic and foreign accounting standards
(1) Difference in net profits and net assets in financial reports disclosed under both international
accounting standards and Chinese accounting standards
□applicable not applicable
(2) Difference in net profits and net assets in financial reports disclosed under both overseas accounting
standards and Chinese accounting standards
□applicable not applicable
(3) Remarks on the reasons for accounting data difference under domestic and overseas accounting
standards, and where difference adjustments have been made to the data audited by an overseas audit
agency, specify the name of such overseas agency
New Hope Liuhe Co., Ltd.
Legal Representative: Liu Chang
August 31, 2023
462