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    新希望:2020年半年度报告(英文版)

    日期:2020-09-19 19:23:06
    股票名称:新希望 股票代码:000876
    研报栏目:定期财报  (PDF) 18428K
    报告内容
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    Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd1新希望六和股份有限公司英文半年报披露说明本次英文版半年报由公司董事办主持完成,共翻译转换23余万字中文。

    翻译过程涉及众多农牧行业和财务会计的专业术语,公司已努力确保原文内容得到准确的传递,但仍可能会存在不恰当之处。

    本报告分别以中、英文编制,在对中、英文文本的理解上发生歧义时,以中文文本为准。

    欢迎本报告的阅读者在发现问题或难以理解的内容时,发邮件至公司董事办邮箱(000876@newhope.cn)询问与交流,也帮助公司提升后续版本的翻译质量。

    我们诚挚地欢迎您的批评、指正与建议。

    NewHopeLiuheCo,.LtdDisclosureStatementoftheEnglishVersionSemiannualReportTheEnglishversionofthesemiannualreportwascarriedoutbythecompany'sOfficeoftheBoardofDirectors,withatotalofmorethan230thousandChinesecharacterstranslated.Asthesemiannualreportinvolvesmanyprofessionaltermstranslationofagricultureindustryandfinancialaccounting,thecompanyhasmadegreateffortstoensuretheaccuratetranslationoftheoriginalcontent,buttheremaystillbesomeinadequacies.ThisreportispreparedinChineseandEnglishrespectively.IncaseofanyambiguityintheunderstandingoftheChineseandEnglishversions,theChineseversionshallprevail.Readersofthisreportarewelcometosendanemailtothecompany'sOfficeoftheBoardofDirectors(000876@newhope.cn)toinquiryandcommunicateifencounteringproblemsorincomprehensiblecontents,andatthesametimehelpthecompanyimprovethetranslationqualityofsubsequentreports.Wesincerelywelcomeyourcriticism,correction,andsuggestions.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd2NewHopeLiuheCo.,LtdSemiannualReport20202020-109August2020Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3Section1Importantnote,tableofcontentsanddefinitionsTheboardofdirectors,boardofsupervisors,directors,supervisors,andseniormanagersofthecompanywarrantthatthecontentsofthissemiannualreportaretrue,accurateandcompleteandfreeofanyfalserecords,misleadingstatementsormaterialomissions,andtheybearthejointandseverallegalliabilities.Thecompany’sCEOLiuChang,thechiefaccountantWangShuhuaandthechiefofaccountingorganization(accountingsupervisor)ChenJingstatethattheyguaranteetheauthenticity,accuracyandintegrityoffinancialreportinthissemiannualreport.Allthedirectorshaveattendedtheboardmeetingtodeliberatethisreportinperson.The2020annualfinancialbudget,businessplan,andbusinessobjectivesofthecompanydonotrepresenttheprofitforecastofthecompanyfor2020andtheirrealizationdependsonvariousfactorssuchaschangeinmarketconditionsandeffortlevelofmanagementteam,subjecttogreatuncertainties,towhichtheinvestorsareadvisedtopayspecialattention.Thecompanyshallcomplywiththedisclosurerequirementssetforthin“ShenzhenStockExchange’sIndustryInformationDisclosureGuidanceNo.1---ListedCompaniesEngagedinLivestock,PoultryandAquacultureBusinesses”.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd4I.EpidemicandnaturaldisasterrisksTheanimalepidemicdiseaseisthemainriskfacedinthedevelopmentoflivestockindustry.Therearethreekindsofrisksarisingoutoftheoccurrenceofepidemicdisease.First,theoccurrenceofepidemicdiseaseislikelytoresultindeathoflivestock,andleadsdirectlytothereductioninyieldanddropinprices.Second,theoccurrenceandprevalenceofepidemicdiseaseonalargescaleeasilyinfluencetheconsumerpsychology,leadtoshrinkingmarketdemand,andalsoaffectthefeedproductionandoperation.Third,aftertheoutbreakofsomeinfectiousepidemicdiseasesendangeringthepublichealthandsafety,thegovernmentwilltakelockdownandothermeasurestocontainthespreadofepidemicdisease.Theseepidemiccontainmentmeasureswillseriouslyhinderthetransportationoffeed,animalhealthcareproductsandlivelivestock,andtheworkersreturningtowork,andhaveagreatimpactontheproductionandoperationofbreedingindustry.Inaddition,theoutbreakofinfectiousepidemicdiseaseswillforcemostcateringenterprisestostopdoingbusiness,someagriculturalproductmarketstoshutdown,andconsumerstoreduceshoppingactivitiesoutdoors,resultinginreducedmeatdemandandconsumption.Forexample,theAfricanSwineFeverwithanenormousimpactontheentireindustrybrokeoutin2018.AstheASFischaracterizedbylonglatencyandhighmortalityafteronsetofthedisease,andtheeffectiveandreliablevaccinehasnotyetbeendevelopedsuccessfully,coupledwiththefactthatitwasalsotheconcentratedoutbreakonalargescaleinChinaforthefirsttime,boththeFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd5large-scalebreedingenterprisesandsmallfarmerslackedeffectivecontainmentmeasuresattheonsetofepidemic,therebysufferinglossestovaryingdegrees.ThedatareleasedbyNationalBureauofStatisticsshowsthatthemarketableswinelivestockinChinain2019fellby21.6%year-on-year,andtheswinelivestockonhandinChinaattheendof2019fellby27.5%year-on-year.Furthermore,theCOVID-19outbreakatthebeginningof2020alsoposeddauntingchallengestoanti-riskcapabilitiesoflivestockbreedingindustrychainin.Theanti-epidemicmeasuressuchaslockdown,delayinreturntowork,suspensionoflivepoultrytrading,andshutdownofslaughterhousesledtounavailabilityoffeedtofarmsandlivestockfarmers,newbornlivestocknowheretosell,inabilitytoslaughterlivestockandpoultry,anddifficultiestoconductbreedingproductionactivitiesnormally.TheCOVID-19alsoforcedthenewpigfarmsofpigfarmingenterprisestobegenerallyoutofoperationandrenderedfarmerslessmotivatedtorestocklivepigs,ultimatelyhinderingtherecoveryprocessoflivepigproductioncapacityIntermsofthenaturaldisasterrisk,thefeedandslaughterarecloselyrelatedtoplantingandlivestockbreedingindustry,sothenaturaldisasterssuchastemperatureanomalies,drought,flood,earthquake,hail,andsnowdisasterwillalladverselyaffecttheindustryoperationanddevelopment.Thenaturaldisastersoccurringontheproductionbasesofthecompanyandsurroundingareasmaycausesubstantialdamagestoproductionfacilitiesorequipment,andthenaturaldisastersandextremeclimatemayalsodrivethepricesofsomeFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd6feedstuffandmeatsup.Forexample,seriousflooddisastersbrokeoutinmanyplacesofSouthChinainsummerof2016,adverselyaffectingtheplanting,breeding,farmproducelogistics,projectimplementationandmeatpricesalongtheindustrychaintovaryingdegrees;intermsofplanting,continuouscatastrophicfloodshittingsomeareaswillresultindecreasedoutputoffeedstuff,thusimpactingthefeedstuffprices,whileatthesametimedecreasingthequalityofrawmaterials;intermsofbreeding,floodmightcausepathogenicmicroorganismsburiedinthelandsurroundingbreedingfarmstobeexposedinairanddrinkingwater,andwillresultinspreadofpathogenicmicroorganismsandtriggerepidemicdiseases.Inaddition,severalprovinceshardesthitbythefloodsaremajoraquaticbreedingareasinChina,wheretheimpactoffloodsnotonlywoulddestroyfisheryproductionequipmentbutalsoishighlylikelytowashofffish-barringfacilitiesandbringawayfishfriesandadultfishes,causinglossestoeconomicincomeoffarmersandthusaffectingfeedstuffsalesofthecompany;intermsoflogistics,roadsarefloodedandroadbedsandroadsurfacesdestroyedwhereverfloodsweeps,forcingthefreightcostsofrawmaterials,feed,finishedproductsandbreedingpigstoriseandthetransportcapacitydown,causingpressuresonthesupplychainofthecompany;intermsofprojectimplementation,continuousrainstormswillalsocausepartofcapitalinvestmentconstructionprojectsofthecompanytosuffertemporaryshutdown,affectingtheconstructionschedule;intermsofmeatprices,floodwouldalsoimpactthemeatsupplyanddirectlycontributedtotherisingpricesofpigsinFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd7JuneandJuly,whilethegapinmeatpricesbetweenaffectedareasandunaffectedareaswasgrowing,thusleadingtoincreasedallocationandtransportoflivepigs,andresultinginspreadofepidemicandaffectingthesubsequentdelayinrecoveryofthepigcycle.Riskcountermeasures:Inthefaceofanimalepidemics,thelivestockfarmsplannedandconstructedbythecompany’sbreedingbasearenormalizedandstandardizedfarmsstaffedwithprofessionalbreedingtechnologistsandequippedwithstrictanti-epidemicmeasurestoeffectivelypreventandcontroltheoccurrenceofepidemicdiseases.Thecompanyhasalsosummarizedsomeexperienceandmeasuresrespondingtomajorepidemicdiseasesthroughyearsofexplorationandaccumulation,whichallowthecompanytoeliminatestheimpactofvariousepidemicsbyadjustingtheproductmixwhenappropriate,improvingtheproductquality,conductingdeepmarketdevelopmentactivelyandreducingthecosts.Since2014,thecompanyhasbeenguidingtechnicianstobetterservefarmersbyestablishinganimalhealthcarelaboratoriesinvariousareas,creatingthecloud-basedanimalhealthcaresystemandconductingthemonitoringandwarningofepidemicsanddiseasesinrealtime.Inparticular,inviewofASFoutbreakin2018,thecompanyformulatedall-roundandsystem-widepreventionandcontrolmeasures,coveringexistingself-runpigfarms,fatteningfarmsincooperationwithfarmerhouseholds,newpigfarmsofthecompany,pigfeedproductionunitsandinternalanimalhealthcarelaboratories,withaviewtoensuringproperpreventionandcontrolatthesourceFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd8ofanimalnutrition.Atthesametime,thecompanyactivelytakespartinindustrycommunication,andexploredmoreeffectivepreventionandcontrolmethodstogetherwithitspeers.Currently,thebio-safetyandepidemicpreventionsystem,survivalrateoflivepigs,go-to-marketrateandotherindicatorsofthecompanyareamongthetopintheindustry.InresponsetotheCOVID-19,thecompanylostnotimetoestablishanepidemiccontainmentleadershiporsupervisionteam,formulatedandcarriedoutvariouscontainmentpoliciesandconductedemergencydispositioninacoordinatedmanner.Secondly,thecompanyactivelycommunicateswiththegovernmentatalllevels,coordinatesthetransportationofgoodssuchaslivestockproducts,andrawandauxiliarymaterialsoffeedandproducts,securesvehiclepasses,andimplementsthegreenchannelpolicyenactedbythegovernmentatalllevels.Thirdly,thecompanyensuressufficientprocurementfromfeedplantsandproductionsupplythroughregion-widecoordination,strengthensinternalsupportforpoultryindustryintegration,arrangesitsemployeestoreturntoworkrapidlyandorderly,contributestotheadequatesupplyofdailynecessitiesacrossthecountry,adjustsitsfoodindustrystrategyinrealtimeandexpandssalesthroughsupermarketchannelandonlinechannel.Fourthly,inlightofitsbusinesspractices,thecompanycompiledtheepidemiccontainmentmanual,publisheddocumentssuchastechnicalguidanceonemployeepreventionandcontrolandquarantineandguidanceonengineeringcontrolamidepidemics,makestheepidemicpreventionarrangementsinaFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd9targetedmannerandstrengthensemployeesafetyandprotection.Inresponsetonaturaldisasters,althoughunabletoruleoutthepossibilitythatseriousnaturaldisasterswilloccurinareaswhereitssubsidiariesoperate,thecompany’sextensivebusinessportfolioandpresencebothathomeandabroadhelpensurethatthecompany’sbusinessasawholewillnotbemateriallyaffectedwhennaturaldisastersoccurinparticularregions.EspeciallyfortherainstormsandfloodsinsouthChina,whichhaveoccurredfrequentlyintheseyears,thecompanyhasaccumulatedalargewealthofexperience,establishedprovencontingencyplansandmaintainssufficientfloodpreventionsuppliesinstockatalltimes,whichallowthecompanytoflexiblyguidefarmersthroughproductionplanadjustmentswhenthefloodseasonbeginsinpreparationfordisasterrelieftogether.Atthesametime,thecompanycanalsotaketheadvantageofitsnationwidepresencetoallocatefunds,rawmaterials,equipment,andstafftimelyandeffectivelytoresumeproductionassoonaspossibleandreducethelossescausedbynaturaldisasters.II.RiskoffeedstuffpricefluctuationsThecostofmainfeedstuffsforfeedproductionaccountsformorethan90%oftotalcostoffeedproduction.Inthepast,theproportionoffeedbusinessinthecompany’srevenuewaslarge,butasthefeedindustrygenerallyadoptsthecost-pluspricingmethod,thefluctuationsinpricesoffeedstuffscanbepartlytransmittedtothedownstreambreedingoperations,soastorelievethepressurefromtherisingpricesoffeedstuffs.However,withagrowingpercentageofFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd10livestockbreedingbusinessinthecompany’srevenue,therisingpricesoffeedstuffswillhaveagrowingimpactonthecompanyasawhole.Since2018,thecostoffeedstuffshasbeenturbulentandrising,andthedomesticspotmarketofsoybeanmealjumpedbyphaseswithintensificationofmarketfluctuations.Thedomesticcornpricerosebeforefalling,andthepricesofadditive(aminoacid)alsowentdowninazigzagmanner.Theviolentfluctuationsinpriceoffeedstuffscontinuedinto2019,asthedomesticcornpricesfellbeforerisingandthenfellagain,whilethespotmarketpricesofsoybeanmealcontinueddropping.Atthebeginningof2020,theCOVID-19outbreakaffectedtheworkresumptionoffeedadditivemanufacturersanddrovethepricesofsomefeedadditivesupremarkablyinshortterm,whilesoybeanmealpricesalsoroseinshorttermduetothereducedsoybeanexportfollowingtheclosureofportsinresponsetotheCOVID-19outbreakinSouthAmerica.CoupledwiththecontinuoustensionbetweenChinaandUS,whichbringsgreatuncertaintiestothebulkproducetradebetweenthetwocountriesandinternationaltradeoffeedstuffsinthefuture,theriskofpricefluctuationswillexistinthelongterm.Moreover,againstthebackgroundoflongtimeexistenceofASFinChina,thefeedenterpriseswillreducesomehigh-riskfeedstuffsforthesafetyofanimalnutrition,suchasusageofcorn,pigblood,andpigbonemeal,soastomakethedemandforrawmaterialsconcentrateonothertypesofrawmaterials,whichwillalsoleadtoriseinpricesofsuchalternativerawmaterials.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd11Riskcountermeasures:Thecompanyisthelargestdomesticfeedenterprisewiththescaleadvantagesandaconsiderablesayintherawmaterialpurchasing.Thecompanystartedreorganizingandoptimizingitsrawmaterialprocurementsystemin2017,combedthroughitssuppliersystemactively,establishedstrategicpartnershipswithmanydomesticandoverseasbest-runrawmaterialsuppliers,conductedthesupplychainfinancingofvariousformsactively,andoptimizeditspurchasingcostandrelatedfinancialexpenses.In2019,thecompanycontinuedtodrivetransformationsintermsofcentralpurchasingofrawmaterials,strategicpurchasingchanneloptimizationofpartners,acquisitionofcornproducedinnortheastandpurchasingmodelupgrading,realizingagreaterpurchasingvaluedespitethechallenges.TheCOVID-19crisisin2020hascausedphase-wiseimpactonthepricesoffeedstuffandfeedadditives,butastheCOVID-19hasbeencontainedgraduallyathomeinthesecondquarterandcompaniesatupstreamanddownstreamofthefeedindustryresumedproduction,theundersupplyofvastmajorityoffeedstuffandadditiveshasbeeneasedremarkablyandthepriceshavebeenfallingasawhole,withthepriceriskgraduallyreleased.Meanwhile,inthefirsthalfof2020,thecompany’sfeedsupplychainmanagementdepartmentmadegreateruseofhedginginstrumentstocontroltheriskofpricefluctuationsofrawmaterials.DuringresponsetotheCOVID-19,thecompany’sexperienceofcloseinteractionamongtechnology,procurement,productionandsalehasbeensummarizedandappliedinday-to-dayoperationmanagementofthefeedbusiness.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd12III.RiskofpricefluctuationsoflivestockandpoultryThefinishedproductsoflivestockandpoultrybreedingofthecompanymainlyincludebabychick,babyduck,white-featheredchicken,white-featheredduck,breedingpig,piglet,andhog.Especiallysince2015,thepigfarmingbusinessofthecompanyhasbeengrowingrapidly,with3.55millionlivepigssoldin2019andmorethan300millionself-raisedandoutsourcedcommercialgenerationchickenandduckssold,whichallowedthelivestockandpoultrybreedingtocontributegreatertotheentirerevenueandprofitsofthecompany.Alongwiththeexplosivegrowthofbreedingvolumeofthecompanyinthefuture,thepricesoflivestockandpoultrywillaffectthelevelsofrevenueandprofitsofthecompanyevenmoreremarkably.In2019,influencedbyASF,thelivepigpricescontinuedtoriseafterbouncingback,hittinghistorichighsuccessivelyasthepricesskyrocketedinthesecondhalfoftheyear.Intermsofwhite-featheredpoultry,thepricesofbreedingpoultry,non-slaughteredchickenandducksandpoultrymeatremainedhighasawholein2019duetotheinsufficientintroductionofvarieties,coupledwiththedramaticallyincreasedconsumerdemandforporksubstitution.Inthefirsthalfof2020,thepricesoflivepigsandwhite-featheredpoultrybifurcated.Intermsoflivepigs,inthefirsthalfof2020,whentheundersupplyoflivepigsremained,thebreedingstockrecoveredgraduallyandthepigpricesbouncedbackandclimbedgraduallytotheendofJuneafterarapidfallinMayduetotheweakenedconsumerdemand;itispredictedthatthesupplyofliveFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd13pigswillremaintightinthesecondhalfof2020andthepigpriceswillstillstronglysupportedthroughouttheyearalongwiththeseasonalrecoveryoftheconsumerdemand.Intermsofwhite-featheredpoultry,beitnewly-hatchedpoultry,non-slaughteredchickenandducksorpoultrymeat,theirmarketpricesremainedlowasawholeinthefirsthalfof2019duetoseriousoversupply,forexample,theaveragepricesofwhite-featheredbabybroilerchickenfellbymorethan50%year-on-yearinthefirsthalfoftheyearandthepricesofpoultrymeatontheconsumersidewerealsolowastheconsumerdemandofmajorchannelssuchaswholesalemarkets,schools,plantsandmineswasapparentlyinhibitedduetotheimpactofCOVID-19,thereforecompaniesacrosstheentireindustrychainsufferedlossesinthefirsthalfoftheyear;itispredictedthatthesituationfwhite-featheredpoultryindustrywillbecomefavorableinthesecondhalfoftheyearalongwithgradualrecoveryofconsumerdemand,coupledwiththeseasonalgrowthintraditionalconsumerdemand,butthecapacitiesoftheentireindustryremainhigh,meaningthattheroomforrecoveryisestimatedtobelimitedevenifthemarketdemandbouncesback.Forthisreason,thepricesacrossthewhite-featheredpoultryindustrychainmightstillremainsubstantiallylow.Riskcountermeasures:apartfromtheimpactofsporadicepidemics,thefluctuationsinpricesoflivestockandpoultrymainlydependontheperiodicincreaseanddecreaseinbreedingandsupplyquantities.Asaresult,theprocessoflivestockandpoultrypricesgoingdownitselfisaprocessofthesurvivalofFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd14thefittestintheindustry.Againstthisbackdrop,thecompanystillcangeneratemorerevenueorsufferlesslossesthanitsrivalsintheprocessofpricedeclineaslongasitincreasesitsbreedingefficiencyandmakesitsbreedingcostslowerthanitsrivals.Whensomeparticipantsexit,thetotalsupplydeclinesandthepricesriseagain,thecompanymightgainagreatermarketshareandahigherreturnoninvestmentthanbefore.Inrecentyears,thecompanyhasbeencommittedtocontinuouslyincreasingitsbreedingefficiency,andenjoyingindustryleadershipintermsofproductionofhealthyyoungbreedingpoultryandPSYandfullcostofpigbreeding,whichwillensurethatthecompanywillremainhighlycompetitiveduringthepricefalloflivestockandpoultry.Ontheotherhand,unlikemostofagriculturalandanimalhusbandryenterprises,thecompanyalsohasslaughteringandprocessingbusinessesdownstreamofbreedingindustry,whichhappenstohedgeagainstthebreedingbusinessofthecompany.Thepricedeclineoflivestockandpoultrymeansthatthecostofrawmeatintheslaughteringandprocessingbusinessesfallstooanditsprofitmarginwillbeincreased,whichcanalsoeasetheimpactofpricefalloflivestockandpoultryonthecompanyasawholemoderately.IV.ImpactofenvironmentalprotectionpoliciesIn2014,startedimplementingtheRegulationsonPollutionPreventionforLarge-scaleBreedingofLivestockandPoultry,asthegovernmentwasstronglydeterminedtokeeplivestockfarmsinlineandnewregulationswereenactedacrossthecountrytodemolishlivestockfarms,banorrestrictlivestockfarmingFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd15activities.Atthelevelofcentralgovernment,thenew“EnvironmentalProtectionLaw”wasenactedonJanuary1,2015;attheendof2016,theStateCouncilissuedthe“13thFive-Year”EcologicalEnvironmentProtectionProgram”,morespecificallyrequiring“localgovernmentstocloseorrelocatelivestockfarms(communities)andbreedinghouseholdswithinthebannedareasaccordingtolawbytheendof2017”.In2018,thefirstgroupofcentralenvironmentalprotectioninspectorsconductedthe“follow-upreexaminations”,astheeffortstoinvestigatepollutioncausedbylivestockfarmswereintensifiedacrossthecountry,orderingsomebreedinghouseholdstoshutdownforenvironmentalremediationorcloseonceforallduetotheirlivestockfarmingfacilitiesfailingtomeettheenvironmentalstandardsordischargingwastewaterbeyondthesetstandards.Thesepressuresfromtheenvironmentalprotectionpolicieswillforcesomelivestockandpoultryfarmsfailingtomeettheenvironmentalstandardstoexitthemarket,andleadtoreducedbreedingquantities,whichwillproduceacertainimpactonthegrowthoffeedbusinessofthecompanyanditsacquisitionoflivepigsandpoultryforslaughteringbusiness.Somebranchesandsubsidiariesofthecompanyfailtomeettheenvironmentalprotectionrequirementseconomicallythroughhardwaretransformation,ornolongerhavethemarketbasisduetobeinglocatedinthebannedareas,whichwillleadtoshutdownofsomebranchesandsubsidiaries.Inthelongrun,however,theexitoftheseoutdatedcapacitiesforincompliancewithenvironmentalstandardswillallowthebest-runproducersthatremainintheindustrytoacquirehigherFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd16profitability,whichisstillofapositivesignificancetotheentireindustry.Riskcountermeasures:inlightofthechangesofthebreedingmarket,thecompanymakeseveryefforttokeepitsstockundercontrol,establishespoultryandpigbreedingservicecompaniesbychangingitsfeedmarketingmodel,makesfulluseofitsindustrializedsupportingandintegratedservices,andstrengthensitscooperationwithmediumandlarge-sizedfarmsandbreedinghouseholdsthatmeettheenvironmentalstandards.Whileexploringanewwayofbreeding,thecompanyregardsecology,environmentalprotection,efficiencyandsafetyasprimaryconsiderationsinitsprojectdesign,helpsbreedinghouseholdsremodelandbuildshedsandstallsthatmeetthehigherenvironmentalstandards,increasetheprofitabilityofbreedingbusinessandactivelydrivethedomesticlivestockandpoultryfarmingindustrytogrowhealthily.Ontheotherhand,thecompanyactivelygrowsitsinventoriesbycultivatingnewlivestockandpoultryfarmingbasesinenvironmentallysuitableareasthroughconstruction,acquisition,jointventureandcooperationusingitsexistingbusinessportfolioacrossthecountry,thusensuringthestabilityofitsbreedingresources.V.RiskoffoodsafetyincidentsFoodsafetyconcernsthephysicalhealthandlifesafetyofthegeneralpublic,andisanimportantfactoraffectingbusinessreputationandoperation.Asforfoodcompanies,theproductqualityandfoodsafetyareevenamatteroflifeanddeath.Ifafoodcompanyisnegligentinanypartofthebusinessprocess,Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd17resultinginfoodsafetyproblemsoraccidents,itmightfaceclaims,actionsorrelatedpunishmentsinawaythatevenaffectsitsbrandandreputation,therebymateriallyadverselyaffectingitsbusiness,financialcondition,stockpricesorbusinessperformance.Therevised“FoodSafetyLaw”wasofficiallyenactedasofOctober1,2015,alsoknownasthe“moststringentlawofitskindinthehistory”,meaningChinahasbroughtitsfocusonfoodsafetytoanunprecedentedlevel.TheoutbreakofASFin2018raisedevenmoredemandingrequirementsforfoodsafetycontrol.TheASFitselfisnotazoonoticdiseaseandtheporkwithASFvirusisnotharmfulatalltohumansafterconventionalheatingandcooking.However,thereisnotyetfullyeffectivecontainmentmeasureagainstASFatpresent,andtheporkanditsproductsareoneofthemaincarriersofthevirus,somorecostsarerequiredtopreventandcontrolASFduringtheprocessoflivepigrecoveryandslaughter,porktransportationandvending.Riskcountermeasures:thecompanyhasalwaysbeenhighlyconcernedaboutfoodsafetymanagementbymakingfoodsafetyitstoppriorityandimplementingfoodsafetyineverythingitdoes.InFebruary2015,thecompanyestablisheditssafetyandenvironmentalprotectiondepartmenttoensuresafety,healthandenvironmentalprotectionofitsproductsanddrivethelong-term,sustainabledevelopmentoftheorganization.Thecompanyalsoupgradedtheequipmentinits“three-level”testingsystem,added5regionaltestingcenters,expandedthelaboratoriesofitsbranchesandsubsidiariesintermsofhumanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd18andmaterialresources,guaranteedthescientificityandreasonablenessofallocationandinputoffunds,resourcesandpersonnelacrossthefoodindustrychainandinitiallyestablishedanadvanced,scientific,efficient,safeandsoundenvironmentalmanagementsystem,whichupgradedthefoodsafetyorganizationmanagement,high-endfacilities,processmanagement,andkeyprocesscontrol.,Sofar,thecompanyhascreatedafoodsafetycontrolchainfromfeed,livestockandpoultrybreedingallthewaytodiningtable.In2014,the“Beiyouzi”brandedduckmeatproducedbythecompanywasthefirstintoachieveend-to-endtraceability;in2015,ChengduXiwangFoodCo.,Ltd,asubsidiaryofthecompany,becameoneofthesecondgroupofpilotcompaniesforimplementationofthenationalstandard“foodcoldchainlogisticstraceabilitymanagementrequirements”.Inaddition,thecompanybroughtitssafetyandenvironmentalprotectionsystemmoreinlinewithinternationalbestpricesbypassingthefoodtechnicalstandardcertificationbytheBritishRetailCouncil(BRC)in2016.AtthefirstplenarysessionoftheGlobalFoodSafetyInitiative(GFSI)in2016,thecompanywaselectedtheVicePresidentoftheChinaCouncil,becomingthefirstChineseprivateenterprisetobeselectedasamemberoftheglobalboardofdirectorsofGFSI.InOctober2019,the8thGFSIFocusDayChinaorganizedbythecompanywasheldinChengdu.ItisthefirsttimeaprivateenterpriseorganizedthiseventsinceGFSIbeganholdingtheFocusDayChinain2012,andalsothefirsttimetheGFSIFocusDayChinawasheldinaprovinceotherthanBeijingandShanghai.ThecompanywasselectedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd19as100MostTrustedModelOrganizationsand20BestCasesofManagementInnovationattheChinaFoodSafetyAnnualConferencein2016and2017,signifyingthatthefoodsafetyeffortsofthecompanyarerecognizedathomeandabroad.Atpresent,allfoodenterprisesundertheflagofthecompanyhavepassedChina-HACCPcertification,andmorethan60foodcompaniesarefinishingtheBRCandGlobal-GAPcertificationsinsuccession.Inaddition,thecompanysystematicallyexplorestheantimicrobial-reducingandantimicrobial-freepossibilitiesincooperationwithmultiplepartiesusingtheGFSIplatformresources,andactivelydrivesthepopularizationofantimicrobial-reducingandantimicrobial-freesuccessfulcases.VI.RiskofexchangeratefluctuationsCurrently,theglobalpurchasingofrawmaterialsforfeedproductionisgoingdeeper,andthefeedenterpriseshavebeenincreasinglyaffectedbytheexchangerateintermsoffeedstuffpurchasingcenteredonforeignsupplysuchascorn,soybean,wheypowder,fishmeal,andDDGS.Atthesametime,thecompanyhaslargerforeignoperationsthanitsChinesepeers,andintheforeigninvestmentandoverseasproductionandoperation,thecross-bordercapitaltransactionandsettlementamountsinvolvedaregrowing,thusmakingthecompanymorevulnerabletoexchangeratefluctuations.Since2019,thebumpyChina-USrelationscausedtheRMB/USDexchangeratetofluctuatefrequently,withtheRMB/USDexchangeratefallingbyabout1.8%incumulativetermsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd20throughouttheyear.Inthefirsthalfof2020,theChina-USrelationscontinuedworsening,butastheCOVID-19crisishasbeencontainedathomeandtheeconomicactivitiesacrossChinagraduallyrecovered,theChineseeconomyshowedastrongresilienceasawhole,registeringamerely1.5%accumulateddropinRMB/USDexchangerate.Inthesecondhalfof2020,however,astheglobalCOVID-19crisiscontinuedspreadingataquickenedpace,theworldeconomicrecessionhasbecomeasurethingandtheexternalriskscausedbydeterioratingChina-USrelationsfurtheraggravated,makingithighlylikelyforfinancialmarketstofaceviolentturbulences,whichwillproduceaconsiderableimpactontheforeignexchangemanagementofthecompany.Besides,inseveralMiddleEastcountrieswherethecompanyoperates,theexchangerateoflocalcurrenciesagainstUSDdepreciatedremarkablyduetotheCOVID-19,politicalturbulenceandforeignexchangepolicyadjustments,whichalsoproducedanadverseimpactonthecompany.Riskcountermeasures:Inresponsetothegrowingneedsforoverseasrawmaterialpurchasingandinvestmentandoperation,thecompanystartedbuildingitsSingaporeanbranchintoanoverseascommercialandtradingcenterandinvestmentandfinancingcenterin2016,activelyconductedinternationalcentralizedpurchasingofrawmaterials,foreigndirectfinancing,supplychainfinance,foreignexchangeriskmanagementandrawmaterialspurchasingriskmanagementonitsSingaporeanplatform,inordertoreducetheimpactofexchangeratefluctuationsonitscashflowinoverseasoperations.Meanwhile,inFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd21itsoverseasoperations,thecompanyfurtherstrengtheneditscloseconnectionandcommunicationwithoverseasfinancialinstitutions,overseasagenciesoftheChinesegovernmentandhostgovernmentstoidentifythetrendsoflocalcurrencies’exchangeratesinhostcountriesintimeandeasetheadverseimpactofexchangeratefluctuationsbymeansofdirectinvestmentinlocalcurrenciesabroad.Currently,thecompanyisactivelystudying,demonstratingandpreparingrelatedcontingencyplansagainstpossiblescenariosofdrasticallychangedexternalenvironmentsandviolentexchangeratefluctuations,suchthatthecompanywilltakeimmediate,relevantmeasurestoendeavortominimizethelossesoncerelatedcircumstancesarise.VII.RiskofhumanresourcesTheriskofhumanresourcestothecompanymainlyinvolvesthefollowingfouraspects.First,thepigbreedingscaleofthecompanywillrealizetheleapfrogdevelopment.Asatthetimeofdisclosureofthissemiannualreport,thecompany’spigfarmingteamhasexceeded30000persons,butinordertomatchwiththehigherslaughteringtargetsinthefuture,thecompanyisstillunderstaffedinpigindustry,andthecompanywillcontinuetorecruitandexpanditspigfarmingpersonnelatarateofnolessthan10,000-20,000personseachyear.Therefore,therearetremendouspressureandchallengesintermsofrapidlyrecruitingalargenumberofpigraisers,andhowtorapidlycultivateandretainalargenumberofqualifiedpigraisers.Ifthepersonnelrecruitmentandtrainingprovesinadequate,potentialriskswillariseforthesubsequentpigFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd22farmmanagementandoperation;second,asthecompanytransformsfromatraditionalagriculturalandanimalhusbandryenterprisetoanagricultural,animalhusbandryandfoodintegratedenterprise,thecompanywillfacetheriskofinsufficientreserveofhigh-caliberoperationandmanagementpersonnelinnewbusinessdomainsandofpersonnelinfoodretailterminals,Internetplatformandotheremergingfields;third,alongwiththerisinghumancost,employeecompensationhasbecomeanimportantfactorincostincreaseofthecompany;fourth,asaleadingenterpriseinChina’sagriculturalandanimalhusbandryindustry,thecompanyhascultivatedalargenumberofoutstandingemployeesinitsmultiyearhistory,butthecompetitionforhumanresourcesisintensifyingduetotheincreasingcompetitionintheindustryandentryofnewplayersofdifferentbackgroundsintotheindustryoverthepastyears,meaningthebraindrainwillcauselossestothecompanyandsubsequentlyaffectthesustainablecompetitivenessofthecompany.Riskcountermeasures:Inviewofaforesaidrisks,thecompanyhaslookedattalentcultivationandorganizationalactivationasalong-termstrategictaskofthecompany.Intermsofrecruitingtalentedpigfarmers,thecompanyexpandeditsrecruitmentchannelbeyondcollegegraduatesmajoredinagricultureandanimalhusbandrytorecruitnon-specializedcollegegraduatesandveterans.Intermsofpigfarmertraining,thecompanybrokedownitsdailyproductionprocessesaccordingtostandardsandinternalizedthemusingITmeans.Itoffersspecializedcoursesofdifferentlevelsforgeneralmanager,farmFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd23managersallthewaydowntothenewlyrecruitedfrontlineworkersthroughin-housepigfarminguniversitiesandpigindustryresearchinstitutesthatofferhigh-frequencylearning,trainingandteachingpossibilities.Moreover,throughthemodernmentoringsysteminsidepigfarmsandone-to-onementoringandintensificationbysophisticatedemployees,thetimetocultivatenewemployeeshasbeengreatlyshortened.Toretaintheemployeesofitspigfarms,thecompany,orientedtowards“valueastheguidingprinciple,multi-aspectcoordinationandcombinationoflongtermandshortterm”,furtherperfecteditspigindustrytalentmotivationsystem,wherebypersonnelatalllevelsinpigindustrywillreceiveindustry-leadingeconomicreturnbasedontheirvalueoutput.Inaddition,inordertoreducethepressureontalentrecruitmentandcultivationandbetterleadthedevelopmentofChina’slivepigindustry,thecompanyintensifieditseffortstocarryoutprojectssuchaspigraisinginmultistorybuildings,intelligentpigfarmsandthingsofInternet,whichwillsignificantlyincreaseitsefficiencyofpersonnelutilization.Thecompanyalsointensifieditseffortstorecruittalentedpeopleinstrategic,newbusinesses,whileactivelyconductingindustrytrainingandlearningtoenrichtheknowledgestructureandcapabilitystructureofitsexistingpersonnel.Duringitsstrategictransformation,thecompanysetupdevelopmentplatformsformanagers,motivateditsemployeestopursuebusinessventuresandcreatedadiversifiedgrowthplatformforitsemployeesbyincentivizingtheorganization.Moreover,thecompanyrealizedthecontinuousFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd24increaseinpercapitaefficiencybyefficiencyimprovement,leanmanagement,optimizationofindustrychaindesignandorganizationflattening;createdtheprofessionalmanagerdevelopmentchannelwithsurvivalofthefittestbyconstructingthecompetition,selectionandeliminationmechanisms;andcreatesthegrowthcommunityofemployeesandthecompanybyconstructingreasonableevaluationandincentivemechanismsandvaluesharingmechanism.InJuly2019,thecompanyimplementeditsrestrictedstockandstockoptionincentiveplanforthefirsttimetomotivateitskeytechnologistsandpigfarmingteamsmore,thusensuringtherapidimplementationofitsscienceandtechnologystrategyandpigfarmingstrategy.Thecompanyfurtherestablishedandperfecteditslong-termincentivemechanism,gavefullplaytotheinitiativeofseniormanagersandpartofkeypersonnel,andeffectivelycombinedshareholderinterests,corporatebenefitsandpersonalinterestsofitscoreteam,whichwillpromotethelong-termdevelopmentofthecompany.Thecompanyplansnottodistributecashdividendsorallotbonussharesortransferitsprovidentfundtosharecapital.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd25TableofContentsSection1Importantnote,tableofcontentsanddefinitions...........................................................3Section2CompanyProfileandKeyFinancialIndicators...........................................................27Section3CompanyBusinessOverview.........................................................................................31Section4Discussionandanalysisofbusinessoperations.............................................................47Section5Importantmatters...........................................................................................................75Section6Changesinsharesandshareholderdetails.................................................................277Section7Detailsrelatedtopreferredshares...............................................................................283Section8Detailsrelatedtoconvertiblecorporatebonds...........................................................284Section9Detailsofdirectors,supervisorsandseniormanagers...............................................286Section10Detailsrelatedtocorporatedebts..............................................................................287Section11FinancialReport..........................................................................................................288Section12Directoryofdocumentsforreference........................................................................542Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd26DefinitionsTermReferstoDefinitionThiscompany,company,listedcompany,ReferstoNewHopeLiuheCo.,LtdCSRCReferstoSecuritiesRegulatoryCommissionCSRCReferstoSichuanSupervisionBureauofChinaSecuritiesRegulatoryCommissionSZSEReferstoShenzhenStockExchangeCSDCReferstoSecuritiesDepositoryandClearingCo.,LtdNAFMIIReferstoNationalAssociationofFinancialMarketInstitutionalInvestorsCompanyLawReferstoCompanyLawofthePeople’sRepublicofChinaSecuritiesLawReferstoSecuritiesLawofthePeople’sRepublicofChinaNewHopeGroupReferstoNewHopeGroupCo.,LtdSouthHopeReferstoSouthHopeIndustrialCo.,LtdChinaMinshengBankingCorp.ReferstoChinaMinshengBankingCorp.NewHopeChemicalReferstoNewHopeChemicalInvestmentCo.,LtdBeishuoInvestmentReferstoLhasaEconomicandTechnologicalDevelopmentZoneBeishuoInvestmentCenter(LP)FinanceCompanyReferstoNewHopeFinanceCo.,LtdLiuheGroupReferstoShandongNewHopeLiuheGroupCo.,LtdPolarisBayReferstoPolarisBayCo.,LtdHopeGroupReferstoHopeGroupCo.,LtdBenXiangAgriculturalReferstoYanglingBenxiangAgriculturalIndustryGroupCo.,LtdYan’anBenyuanReferstoYan’anBenyuanAgriculturalTechnologyDevelopmentCo.,LtdYanchuanYongxiangReferstoYanchuanYongxiangLivestockDevelopmentCo.,LtdZhidanDingxiangReferstoZhidanDingxiangAgriculturalTechnologyDevelopmentCo.,LtdJinheInvestmentReferstoShaanxiJinheTechnologyVentureInvestmentCo.,LtdFengyiInvestmentReferstoYanglingFengyiEquityInvestmentManagementCenter(LP)XiangyuanInvestmentReferstoYanglingXiangyuanEquityInvestmentManagementCenter(LP)Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd27Section2CompanyProfileandKeyFinancialIndicatorsI.CompanyProfileStockabbreviationNewHopeStockcode000876StockexchangeonwhichstockislistedShenzhenStockExchangeChinesenameofthecompany新希望六和股份有限公司Chineseabbreviationofthecompany(ifany)新希望Englishnameofthecompany(ifany)NEWHOPELIUHECO.,LTD.Englishabbreviationofthecompany(ifany)NEWHOPELegalrepresentativeofthecompanyLiuChangII.ContactpersonsandcontactdetailsBoardsecretarySecuritiesaffairsrepresentativeNameHuJiBaiXuboContactaddress11F,BlockT3A,WangjingSOHOCenter,No.10,WangjingStreet,ChaoyangDistrict,Beijing11F,BlockT3A,WangjingSOHOCenter,No.10,WangjingStreet,ChaoyangDistrict,BeijingTel:(028)82000876(010)53299899(028)85950011(010)53299899Fax:(010)53299898(010)53299898Email:000876@newhope.cnbaixb@newhope.cnIII.Otherdetails1.ContactdetailsofthecompanyWhethertheregisteredaddress,officeaddressandpostcode,corporatewebsiteaddressandemailaddressofthecompanyhavechangedduringthereportingperiod□Applicable√NotapplicableTherewasnochangetotheregisteredaddress,officeaddressandpostcode,corporatewebsiteaddressandemailaddressofthecompanyduringthereportingperiod,asdetailedinthe2019annualreport.2.InformationdisclosureandfilingplaceWhethertheinformationdisclosureandfilingplacehavechangedduringthereportingperiodFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd28□Applicable√NotapplicableTherewasnochangetothenameofinformationdisclosurenewspaperschosenbythecompany,theaddressofthewebsitedesignatedbyCSRCforpublicationofsemiannualreportsandtheplaceoffilingofthecompany’ssemiannualreportsduringthereportingperiod,asdetailedinthe2019annualreport.IV.KeyaccountingdataandfinancialindicatorsWhetherthecompanyneedstoretroactivelyadjustorrestatetheaccountingdataofpreviousyears□yes√noThisreportingperiodThesameperiodofthepreviousyearIncreaseordecreaseinthisreportingperiodcomparedwiththesameperiodofthepreviousyearBusinessrevenue(Yuan)44,696,040,364.0835,294,298,951.2626.64%Netprofitsattributabletoshareholdersofthelistedcompany(Yuan)3,163,865,460.001,561,855,272.77102.57%Netprofitsattributabletoshareholdersofthelistedcompanyafterdeductionofnon-recurringprofitandloss(Yuan)3,283,676,864.541,661,974,908.6497.58%Netcashflowfromoperatingactivities(Yuan)658,593,331.58543,684,173.9421.14%Basicearningspershare(Yuan/share)0.760.38100.00%Dilutedearningspershare(Yuan/share)0.750.3897.37%WeightedaverageROE11.16%7.13%4.03%increaseTheendofthisreportingperiodTheendofthepreviousyearIncreaseordecreaseattheendofthisreportingperiodcomparedwiththeendofthepreviousyearTotalassets(Yuan)91,293,152,010.3464,217,666,883.5542.16%Netassetsattributabletoshareholdersofthelistedcompany(Yuan)29,818,996,048.3826,061,689,948.5614.42%V.AccountingdatadifferenceunderChineseandforeignaccountingstandards1.DifferenceinnetprofitsandnetassetsinfinancialreportsdisclosedunderbothinternationalaccountingstandardsandChineseaccountingstandards□Applicable√NotapplicableThecompanyhadnodifferenceinnetprofitsandnetassetsinfinancialreportsdisclosedunderbothinternationalaccountingstandardsandChineseaccountingstandardsduringthereportingperiod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd292.DifferenceinnetprofitsandnetassetsinfinancialreportsdisclosedunderbothoverseasaccountingstandardsandChineseaccountingstandards□Applicable√NotapplicableThecompanyhadnodifferenceinnetprofitsandnetassetsinfinancialreportsdisclosedunderbothoverseasaccountingstandardsandChineseaccountingstandardsduringthereportingperiod.VI.Itemsofnon-recurringprofitandlossandtheiramounts√Applicable□NotapplicableUnit:YuanItemAmountRemarksProfitandlossfromdisposalofnoncurrentassets(includingthecharged-offportionoftheaccruedprovisionforassetimpairment)-94,912,833.48Incomefromdisposalbythecompanyoffixedassets,productivebiologicalassets,long-termequityinvestmentsandintangibleassetsGovernmentsubsidieschargedtocurrentprofitandloss(exceptforgovernmentsubsidiescloselyrelatedtothebusinessoperationsandgrantedaccordingtothenationalunifiedstandardquotaorration)66,064,040.01Incomefromgovernmentsubsidies.Profitandlossonchangesinfairvalueresultingfromholdingofheld-for-tradingfinancialassetsandfinancialliabilities,derivativefinancialassetsandderivativefinancialliabilitiesandinvestmentincomefromdisposalofheld-for-tradingfinancialassetsandliabilitiesandderivativefinancialassetsandliabilities,exceptforvalidhedgingtransactionsrelatedtonormalbusinessoperationsofthecompany-11,235,230.20Incomeacquiredbythecompanyfrompurchaseofheld-for-tradingfinancialassetsReversalofimpairmentprovisionforreceivablesandcontractassetssubjectedtoseparateimpairmenttest10,254,139.72Othernon-businessrevenueandexpenditureotherthantheaforesaiditems.-81,088,155.96Mainlyconsistingofexpenditureonnormaldeathandeliminationoflivestockandpoultry.Otherprofitandlossitemsthatconformtothedefinitionofnonrecurringprofitandloss0.00Minus:effectofincometax4,205,865.93Effectofminorityinterest(aftertax)4,687,498.70Total-119,811,404.54--Fornon-recurringprofitandlossitemsdefinedbythecompanyaccordingtothe“ExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingtheirSecuritiestothePublic–Non-recurringProfitandLoss”,andfordefiningthenon-recurringprofitandlossitemsenumeratedin“ExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingtheirSecuritiestothePublic–Non-recurringProfitandLoss”asrecurringprofitandlossitems,thereasonsshallbeexplained.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd30□Applicable√NotapplicableDuringthereportingperiod,therewasnocircumstanceinwhichthecompanydefinedthenon-recurringitemsofprofitandlossasdefinedandenumeratedinthe“ExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingtheirSecuritiestothePublic–Non-recurringProfitandLoss”asitemsofrecurringprofitandloss.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd31Section3CompanyBusinessOverviewI.MainbusinessesofthecompanyduringthereportingperiodThemainbusinessesthatthecompanyconductedincludefeed,white-featheredpoultry,pigfarmingandfood.(I)FeedbusinessFeedcanbeclassifiedintopremixfeed,concentratedfeedandcompoundfeed(orcompletefeed)accordingtothescopeofnutritionalingredientscontained.Premixfeedisthemixtureofvariousnutritionaladditivessuchasvitamin,mineralsubstanceandaminoacid;Theconcentratedfeedisformedafteraddingvariousanimalandvegetableproteinsintothepremixfeed;thecompoundfeedisformedafterfurtheraddingvariousenergyrawmaterialsintotheconcentratedfeed.Intermsofthefinalnutritionalneeds,theamountofnutritionaladditivesusedissmallbutwithhighunitvalue,andtheenergyrawmaterialshavealowunitvaluebutwithlargeamountused,whiletheproteinrawmaterialsarebetweenboth.Among230milliontonsoffeedsnationwidein2019,thepremixfeedonlyaccountedforabout2%,andtheconcentratedfeedabout5%,andthecompoundfeedmorethan92%.Whatisproducedbythevastmajorityoffeedproducersiscompoundfeed.Largecompanieshavelargedemandsforpremixfeedandconcentratedfeedduetotheirlargeoutputsofcompoundfeed,sotheygenerallywouldproducepremixfeedandconcentratedfeedthemselves.Thesmallandmedium-sizedenterprisesonlyproducecompoundfeedduetotheirsmallscale,andpurchaserequiredpremixorconcentratedfeedasneededfromthepremixunitoflargeenterprisesorotherindependentpremixenterprises.Somefarmersofconsiderablescalewouldalsopurchasethepremixorconcentratedfeeddirectly,beforeblendingtheproteinandenergyrawmaterialsintothemforuse.Thefeedbusinessofthecompanycoverspremixandconcentratedfeedaswellascompoundfeed,ofwhichthepremixandconcentratedfeedaresolddirectlytoexternalmarkets,andalsotointernalbatchingplants.Thefeedcanalsobedividedintopoultryfeed,pigfeed,aquaticfeed,andruminantfeedaccordingtotheanimalstobefed.Amongthefeedyieldnationwidein2019,thepoultryfeed,pigfeed,aquaticfeed,andruminantfeedaccountedfor51%,33%,10%and5%respectively.Thefeedproductsofthecompanyincludealltheaforesaidcategories.Asthecompanyhasadownstreambusinessofraisingwhite-featheredpoultryandpigs,thepoultryfeedandpigfeedproducedbythecompanyaremadeavailabletodownstreamcontractfarmersandin-houselivestockfarmsinadditiontobeingsoldtoexternalmarkets.Theaquaticfeedandruminantfeedproducedbythecompanyaresoldtoexternalmarkets.Themainpartsoffeedbusinessincludetechnologydevelopment,rawmaterialprocurement,productionandprocessing,andsalesservice,usuallyreferredtoas“technology,procurement,productionandsales”.Ofthem,theinteractionbetweentechnologyandprocurementistheclosest.Thisisbecausetherawmaterialcostoffeedproductsaccountsfor80-90%ofsellingprice,andacquiringthecheaprawmaterialsisoneofkeysuccessfactors.However,therawmaterialprocurementshouldtakethenutritionalneedsintoaccount,ratherthanonlyconsideringthecost.Therearehundredsofrawmaterialtypes,resultinginthousandsofformulacombinations.Companiesneedtodesignthelowest-costformulathatmeetsthespecificnutritionalneedsaccordingtothenutrientcontentsandcostsofdifferentrawmaterialsatagiventime,thusmakingtheappropriateprocurementdecisions.Afterdefiningtheformulaandpreparingtherawmaterials,theproductionandprocessingpartsmainlyfocusesonproductionefficiencyandproductquality.Thesalesservicepartmainlyfocusesoncustomerdevelopmentandcare,sellstheproductsthatmeetdifferentneedstodifferentcustomergroups,helpsthefarmerhouseholdsenhancethebreedingperformancethroughadditionalservices,optimizesthecostandefficiencyofthedistributionprocess,feedsbackthecustomerneedsandproductproblemstothetechnologyresearchanddevelopmentdepartmentintimetoformgoodinteractions.Inrecentyears,thedomesticfeedindustryhasenteredthematurestage,asthegrowthrateofnationalfeedyieldfrom2014to2019was3.8%,1.4%,4.5%,5.9%,2.8%and-3.7%respectivelyonayear-on-yearbasis.Withthesteadilygrowingtotalquantity,thefeedsfordifferentanimalspecieswouldshowdifferentgrowthtrendsduetodifferentimpactsoflong,intermediateandshortcyclesThelongcyclereferstothecycleofindustrialupgradingandtechnicalprogress,forexample,thepoultryfeedwithahigherdegreeFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd32ofdownstreamlargescalefarming,ahigherpenetrationrateofcompoundfeeandrelativelymorematuretechnologyhassloweroverallgrowththanthepigfeedandaquaticfeedinrecentyears.Theintermediatecyclereferstothecycleofsupply-demandrelationandpricechangesoflivestockandpoultryproducts,astheperiodicincreaseanddecreaseinbreedingquantityofaparticulartypeofanimaldownstreamwillaffecttheincreaseanddecreaseofsalesvolumeofthecorrespondingfeedtypeupstream.Theshortcyclereferstothenaturaldisastersandanimalepidemicsthataffectspecificanimals,suchasH7N9fluthataffectedthepoultryfeedinthefirsthalfyearof2017,rainstormsandfloodsinthesouthChinathataffectedtheaquaticfeedin2017,andASFthathasbeengreatlyaffectingthepigfeedfromthemid-2018uptonow.AccordingtotheChinaFeedIndustryAssociationstatistics,thepigfeedyieldof2019nationwidefellby26.6%year-on-year,duetothedoubleimpactoftroughperiodofregularpigcycleandASFTheporkshortagecausedbyASFdrovethealternativesupplyofpoultrymeatandpoultryeggs,andthendrovethepoultryfeedupby17.1%,buttheincrementofpoultryfeedisinsufficienttooffsettheimpactofpigfeedreduction,sotheannualproductionfellyear-on-yearforthefirsttimeinthepastsixyears.Boththeoverallmaturityoftheindustryandtheimpactoflong,intermediateandshortcyclesmakethecompetitionincreasinglyfierce.Ontheonehand,eachcompanystrivestopursueinnovationonthebasisofexistingbusinessprocesses.Ontheotherhand,theyareextendingacrosstheupstreamanddownstreamoftheindustrychainandoptimizingtheirstrategicpositioning.Intermsoftechnologyresearchanddevelopment,themicrobialfermentationtechnologyspurredthedevelopmentofbiologicalenvironment-friendlyfeed,whileaquaticfeedisbeingupgradedfromsinkinggranulatedfeedtofloatingexpandedfeed,withmoresegmentedfeedtypesemerginginothercategoriesaccordingtothefeedingphases.Intermsofrawmaterialsprocurement,companiescontinuouslyexploremorediversifiednew-typerawmaterials,whilefortheconventionalbulkrawmaterials,theupstreamimportantrawmaterialsbasesaresecuredbymeansofstrategicpartnershipagreement,equityparticipationorself-runoperation,withtheaccuracyofbulkpurchasingenhancedbyusingbigdata,futuresandotherfinancialinstruments.Intermsofproductionandprocessing,moreefficientandconvenientlogisticscansupportthetransportationofalargerradius,thusgivingrisetomoreandmorefeedfactorieswithlargercapacities.Companiesimproveefficiencythroughmorecentralizedlarge-scaleproduction,whileatthesametimeenhancingthequalitythroughspecializedworkshopsorproductionlines.Intermsofsalesservice,companiesprovidemultipleformsofvalue-addedservicestofarmerhouseholdsinadditiontosellingfeedproducts,suchastechnicalguidance,animalhealthcareveterinarian,financingsupport,informationservice,andlivestockandpoultrysalesonacommissionbasis,aswellasstrengthenthecustomerstickiness,shortenthedistributionprocess,increasetheratioofdirectsupply,helpfarmerhouseholdsincreasethebreedingefficiencyandincome.Intermsoftheupstreamanddownstreamextensionofindustrychain,companiesbothextendtorawmaterialplantingandtradeupstreamandreachouttothebreeding,slaughteranddeepprocessingdownstream.Bycontrast,duetothedifferencebetweenpigandpoultry(seethedescriptioninthewhite-featheredpoultrybusinessfordetails),mostofpoultryfeedproducersextendedtothepoultrybreedingandslaughteringdownstreamearlier;pigfeedproducersextendedtothepigbreedingandslaughteringrelativelylate,butinrecenttwopigcycles,suchextensionisbecomingmorecommon,especiallyinthewakeoftheASF.Suchextensiontothedownstreamreflectsthedesireoffeedproducerstocontrolthedownstreambreedingandconsumerneeds,sothattheycangaintheprofitsfromthedownstreamwhileensuringtheupstreamfeedcapacitiescanbefullyutilized.Thereasonbehindthisliesinshiftofsupply-demandrelationacrosstheindustryandgradualscale-upofthedownstreambreedingoperations,asthefocusofindustryvaluegraduallychangesfromthefeedoperationsinthepasttothedownstreambreedingandfoodproduction.Beittheenhancementandinnovationofexistingbusinessorextensionoftheupstreamanddownstreamofindustrychain,theyallneedtobesupportedbythecomprehensivestrengthofcompaniesinallaspects.Duetogreatercomprehensivestrength,largecompaniestendtohaveincreasinglyobviousadvantagesinthecompetitionandgrowingmarketshares,thusleadingtogradualincreaseintheindustryconcentration.From2013to2019,thenumberoffeedproducersnationwidedroppedtomorethan7,800frommorethan10,000,whilethenumberofproducerswithannualoutputofmorethan100,000tonsperplantroseto621from460.TheASFin2019evenfurtheracceleratedthereshuffleandconsolidationoftheindustry.Comparedwiththelargecompanies,smallandmedium-sizedfeedproducersareweakintermsoftechnology,bio-safetyandotheraspects,andselltheirproductsmostlytofamilyfarmsandsmall-scalescatteringraisinghouseholds,thelatterofwhicharemoreaffectedbyASF,sothatthesmallandFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd33medium-sizedfeedproducersaremoreaffectedthantheirlargecounterparts.LargecompanieswillfacemoremarketspacesaftersurvivingtheimpactofASF.Afterlong-termdevelopment,thefeedbusinessofthecompanyhasbeenthelargestinthedomesticfeedindustryformanyyears,withthepoultryfeedbusinessrankingfirstnationwide,andpigfeed,aquaticfeedandruminantfeedrankingamongtopthreenationwide.Asanindustryleader,thecompanyleadstheindustrytoembracethechangesbyrelyingonitsleadingpositionalongwiththechangingdynamicsoftheindustry,andstrengthensitsproductpower,purchasingpower,productivityandserviceabilityconstantly,bylaunchingbiologicalenvironment-friendlyfeedandantimicrobial-freefeed,eliminatingtheoutdatedcapacities,andbuildinghigh-outputbenchmarkingplants.Onthisbasis,itactivelypursuesextensionofindustrychainandexplorestransformationandupgradingofitsbusinessmodel.Ontheonehand,wemakefulluseofdownstreamindustrychainfoundationdeployedinthepast,activelydeveloptheintegratedprojectsoffeed–breeding–slaughterthroughnewinvestmentorinternalbusinessrestructuring,activelyinvestinandacquireprojectsrelatedtofoodandsales,andsteadilypromoteourtransformationfromfeedproducertobreederandfoodproducer.Ontheotherhand,ourcompanywasthefirstintheindustrytolaunchtheprojectof“everythingflourishing”(poultryflourishing,pigflourishing,fishflourishing,cattleflourishing,sheepflourishing)toprovidetechnicalandfinancialservicestofarmerhouseholds,aswellasandthemanagedserviceorientedtowardslargepigfarms.Wesetupthebreedingtrainingmanagementcompaniesorbreedingservicecompaniesinthefieldsofpoultrybreedingandpigbreedingtofacilitatethedirectengagementwithlargefarmsorfarmers,meanwhiledevelopingtheguaranteebusinesssteadily,andjointlypromotingthedevelopmentoffeedbusiness.(II)White-featheredpoultrybusinessThewhite-featheredpoultryreferstolargewhite-featheredbroilersandwhite-featheredmeatducks,characterizedbyshortgrowthcycleandhighfeedconversionratio.Morethan4billionwhite-featheredbroilersandabout3billionwhite-featheredmeatducksareslaughteredineveryyear,which,togetherwithmorethan3billionyellow-featheredbroilers,makeupthemainsourceofpoultrymeatconsumptionoftheChinesepeople.Thewhite-featheredpoultrybusinessincludesbreedingpoultrypropagation,commercialgenerationpoultrybreeding,poultryslaughter,anddeepprocessingofpoultrymeat.Asthelarge-scaleandindustrialdevelopmentofwhite-featheredpoultryindustrystartedearlyandishighlymatureinChina,coupledwiththefactthatthenumberofsinglebatchofwhite-featheredpoultrybredislarge,itgenerallyneedsmatchingwiththelarge-scaleindustrialslaughter.Therefore,regardlessofwhetherthecommercialgenerationbreedingisconductedbycompaniesaloneinanintegratedmannerorincooperationwithfarmerhouseholds,manycompaniestendtocomeupwiththeindustrychainof“poultryfeed–commercialpoultrybreeding–poultryslaughter”orintegrationmodel.Asmallnumberoflargecompanieswouldalsofurtherextendinthebreedingpoultryupstreamandpreparedpoultrymeatdownstreamrespectively,soastoformamorecompleteindustrychain.Thebreedingpoultrypropagationoperationscanbesubdividedintobreedingandbreedingpoultrycultivation.Breedingreferstoselectivebreedingofhighintergenerationalgoodstock,whilebreedingpoultrycultivationreferstoexpandingpropagationofgoodbreedsselected,andoutputofcommercialgenerationbabychicksandbabyducks.Thebreedingparthasveryhightechnologicalcomplexityandneedslong-termresearchanddevelopmentaccumulation.Atpresent,itismostlycontrolledbyforeignspecializedbreedingpoultrycompanies,althoughsomedomesticleadingcompanieshavemadebreakthroughsinrecentyears,byselectingandbreedingchickensandduckswithproprietaryintellectualpropertyrights.Eventhelowintergenerationalbreedingpoultrycultivationismuchmoretechnologicallysophisticatedthanthecommercialgenerationbreeding,which,coupledwiththehugecapitalinvestmentinbreedingpoultryfarmsandbreedingegghatcheries,meansitisgenerallyaccomplishedbycompaniesinsteadoffarmerhouseholds.Asforthedomesticwhite-featheredpoultryindustry,intermsofbreedingpoultry,greatgrandparentisintroducedmostlyfromforeignspecializedbreedingpoultrycompanies,beforecarryingouttheexpandingpropagationofgrandparentsandparentsinChina,andthenoutputtingthecommercialgenerationbabychicksandbabyducks.However,asforspecificcompanies,itmainlyconsistsoftwocategories.Mostcompaniesstillfocusonthedownstreamoftheindustry,especiallythecommercialgenerationbreedingandslaughter,andextendtheupstreambreedingpoultrycultivationonlytotheparentgeneration,andoutputthecommercialgenerationbabychicksandbabyducksforselfuse,althoughsomeofthemwillfurtherextendtothegrandparentgenerationsforbreeding.AsmallnumberofspecializedbreedingpoultrycompanieslayparticularemphasisontheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd34upstream,focusonintroducingfinevarietiesfromabroad,andsellthebabychicksandbabyducksafterexpandingpropagationin,withoutgettinginvolvedinthecommercialgenerationbreeding.Therearetwomainmodelsinvolvedinthecommercialgenerationbreeding,i.e.,integratedcompany-runbreedingandbreedingthroughcooperationbetweencompanyandfarmerhouseholds.Theintegrationcompany-runbreedingmeansthecommercialgenerationchickenandduckbreedingisrunbyacompanyitself,whoultimatelyslaughtersandsellsthechickenandducks;thebreedingthroughcooperationbetweencompanyandfarmerhouseholdsmeansacompanyprovidesorsellscommercialgenerationbabychickenandduckstofarmerhouseholdsandultimatelyrecoverstheadultchickensandducksforslaughtering.Accordingtothesettlementmodeandtheownershipofchickensandducksasagreedinthecontract,i.e.whetherchickensandducksareownedbythecompanyorfarmerhouseholds,orwhetherthebabychickenandducksareprovidedorsoldbythecompanytofarmerhouseholds,thecompany-farmercooperativebreedingcanbefurtherdividedintotraditionalcontractbreedingmodelandoutsourcedbreedingmodel.Whetheracompanychoosestorunthecommercialgenerationbreedingonitsownornotisrelatedtothetechnicalattributesofthisoperation.Duetoshortergrowthcycleandfasterturnoverspeedofthepoultrythanthoseofpigs,thebreedingtechnologyforthepoultryislesstechnicallydifficultthanpigbreeding,soisthesingle-farminvestmentthreshold.Thus,thedomesticpoultrybreedingindustrystartedearlierandismorematureandlargerthanthepigbreedingindustry.Asaresult,duringtheprocessofcommercialgenerationbreedingalone,thereisusuallynoobviousdifferenceintechnologyandefficiencybetweencompaniesandfarmerhouseholds.Undergeneralconditions,thebenefitsofcompanieschoosingtooperatecommercialgenerationbreedingaloneliemoreinraisinghigherrequirementsforthedownstreamfoodindustry,i.e.theupstreambreedingoperationsarecontrollablefromthebeginningtoendsoastoensurethefoodsafety.However,inrecentyears,stricterenvironmentalregulationhasbroughtnewvariables,assomecommercialgenerationbreedingcompaniesorfarmerhouseholdshavetolimitorstopproductionactivitiesorevenexittheindustryduetobeinglocatedinbannedareasorincompliancewithenvironmentalstandardsdespitebeinglocatedinareasrestrictedorsuitableforbreeding.Therefore,theexistingparticipantsornewentrantsintheindustrymustfirstensuretheyoperateintheareasrestrictedorsuitableforbreeding,andthenneedtoinputmoreresourcesinthesheds,environmentalprotectionandotheraspects.Inordertoadoptnewenvironment-friendlytechnologiesandsheds,eventhosecompaniesstickingtothe“company+farmer”cooperativebreedingmodelalsoneedtobuildsomesheds,adoptnewtechnologyandthenplayademonstrativerolebyrunningbreedingoperationsthemselvesbeforepopularizingthemtofarmers.Thecapitalinvestmentinthepoultryslaughterpartishugeandisgenerallyaccomplishedbycompanies.Asdescribedearlier,mostpoultryslaughteringplantswouldformtheindustrychaincomplementationwiththeupstreampoultrybreedingandevenpoultryfeedoperations,focusonorpreferentiallyrecoverthecommercialgenerationchickensorducksraisedbythemselvesaloneorincooperationwithfarmerhouseholds,butinsomeareas,thecommercialgenerationchickensorduckscultivatedandsoldbyindependentfarmersinthemarketwouldalsobeflexiblyrecoveredinconsiderationofreducingtherawmaterialcostsandoperatingcostsbasedonthemarketquotations.Atthesametime,therearesomepoultryslaughtercompaniesintheindustrywhopossessnobreedingfacilitiesandfeedupstream,butpurelyrelyonrecoveringthecommercialgenerationchickensorducksinthemarketforslaughtering,thusmakingprofitsbyacquiringatalowpriceandsellingatahighprice,andbytakingadvantageoftheincompletesynchronizationbetweenthequotationsofcommercialgenerationchickenandduckmarketsandthoseofchickenandduckmeatmarkets.Butsuchbusinessmodelisunstable,andmanycompaniesoftensuffergreatlossesduetomisjudgmentofmarketquotations.Inrecentyears,thedomesticwhite-featheredpoultryindustryexperiencedmanyroundsofupsanddownsduetothejointeffectsofinternalandexternalfactors.Theboomingmarketsin2016stimulatedtheincreaseincapacitiesoftheentireindustry.Butfromthebeginningof2017,therapidlyincreasedcapacitiesintheindustrywerehitbytheH7N9flu,soonplungingthemarketquotationsdowntothebottom.Thestrictenvironmentalregulationinsummerof2017,however,removedalargenumberofbreedingshedsforsubstandardenvironmentalprotectionfacilitiesbydelineatingthebannedareasandrestrictedareas,anddrasticallycutdownthecapacitiesofpoultrybreeding,resultinginthecapacityshortageofpoultrybreedingrelativetopoultryslaughter,andtherisingpricesandprofitrecoveryintermsofpoultrybreeding.TheshortageofporkcausedbyASFdrovetheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd35alternativesupplyofpoultrymeatsincethebeginningof2019.Althoughthepoultrybreedingquantitieshavebeenatahigherlevelthanthepastyears,andthewhite-featheredmeatpoultrymarketednationwidein2019increasedby12.8%year-on-year,thepoultryindustrywasinaboomingstatewithhighpricesandprofitabilitythroughouttheyear.ButalongwiththegradualstabilizationoftheASFsituation,thelivepigcapacitiesnationwidebouncedbackgradually,which,coupledwiththeweakeneddemandduetotheCOVID-19,causedthepoultrycycletoshowapparentdownwardtrendsfasterthanpigcycle,asthepricesofcommercialgenerationbabychickenandbabyducksstartedfallingremarkablyafterpeakingfornearlyayearinOctoberandNovemberof2019,by77%and76%respectivelyasofJune2020,asopposedtoa25%and31%decreaseinpricesofchickenmeatandadultducksduringthesameperiod.Therefore,thewhite-featheredpoultryindustrystillneedstoimproveitselfinordertoovercometheimpactofcyclicfluctuationsofpoultry.Intheshortrun,theimportantopportunityfortheindustryistoaccommodatetherequirementsofenvironmentalprotectionupgradingandactivelycontrolcommercialgenerationbreedingbasesthatmeettheenvironmentalrequirements,startingwithenvironment-friendlyrenovationsandshedupgrading;inthelongrun,theindustrystillneedsthesynergybetweenbreedingandslaughteringoperations,soastorealizethechannelupgradingonthesalesendandenablehigh-standardinputinthebreedingoperationstoobtainahigher-premiumreturninthepoultrymeatsales.Intermsofbreedingpoultrypropagation,thecompanyisthelargestsupplierofparentalbabyducksandthesecondlargestsupplierofcommercialgenerationbabychicksandbabyducksin,enjoyingindustryleadingtechnologiesespeciallyinthefieldofbreedingduckpropagation.ThecompanycooperateswiththeChineseAcademyofAgriculturalSciences,andelaboratelyselectedandbredthe“Zhongxin”BeijingDuckinviewofthecharacteristicsofdomesticconsumptionofducks.In2018,itsuccessivelypassedthetestsofgrandparents,parentsandcommercialgenerationbythe“SupervisionandTestingCenterforPoultryQualityoftheMinistryofAgriculture”,thevarietycertificationbyAnimalHusbandryBureauofShandongProvince,andtheonsiteappraisalorganizedbyChinaNationalCommissionofAnimalGeneticResources.Itreceivedthecertificateofnewbreedoflivestockandpoultry(completesetline)issuedbyChinaNationalCommissionofAnimalGeneticResourcesinApril2019,followedbyofficialmarketing.In2019,thealternativedemandforpoultrymeattriggeredbytheASFalsodrovethegrowingdemandforupstreambreedingpoultry.Thecompanyseizedthismarketopportunitybypurchasingthebreedingeggsfromotherspecializedbreedingpoultrycompaniesandincubatingthecommercialgenerationbabychicksandbabyducksusingitsabundantbreedingeggincubationcapacities.Atpresent,partofthebabychicksofthecompanyaresoldtoothervendors,andtheotherpartisusedforitsdownstreamcommercialgenerationbreeding.Thebabyducksaremainlyusedforthedownstreamcommercialgenerationbreedingofthecompany.Intermsofcommercialgenerationbreeding,thecompanycurrentlyfocusesonthe“company+farmerhousehold”cooperativebreedingmodel,andisupgradingfromthetraditionalcontractbreedingmodeltotheoutsourcedbreedingmodel,whilegraduallyintensifyingitseffortsofin-house,integratedcommercialgenerationbreedinginareaswhereconditionspermit.Theownershipofcommercialgenerationchickensandducksintheoutsourcedbreedingmodelandin-houseintegratedbreedingmodelbelongstothecompanyandischargedtoitsproductionandsalesvolumeofpoultrybreeding.Thetotalquantityofcommercialgenerationchickenandducksbredintheaforesaidtwomodelshasexceeded300million.Intermsofthesourceofbabypoultry,theoutsourcedbreedingandin-houseintegratedbreedingoperationswouldfirstchoosethebabypoultryproducedbythecompany,whilethecompanyalsopurchasesbabypoultryfromothervendorsinthetraditionalcontractbreedingmodel.Intermofpoultryslaughter,thecompanyhasbeenrankingfirstintheindustryformanyyearswithitsannualslaughteringquantityofabout700millionpoultriesandpoultrymeatproductionandsalesvolumeofabout2milliontonseveryyear.The“Liuhe”brandedpoultrymeatundertheflagofthecompanywasthedesignatedpoultrymeatforShanghaiWorldExpo2010andShanghaiCooperationOrganizationQingdaoSummit2018,enjoyingastrongbrandinfluence.Duetolargeproductionandsalesvolumes,thepoultrymeatslaughteredandproducedbythecompanyhasbeensoldmainlythroughthetraditionaltrademodeofwholesalemarketsforalongtime.Thewholesalemarketchannelcanhelpdigesttheenormousyieldsupstream,butisdetrimentaltoestablishingthebrandimageandgainingalargervaluespaceforthepoultrymeatproductsofthecompanyinthelongrun.Therefore,thecompanyhasbeenvigorouslyadvancingthepoultryslaughterbusinesstoimplementthestrategictransformationof“frozentofresh,rawtocooked,tradetoterminal”since2014,byintensifyingtheshort-distancefreshproductsales,andexpandingtheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd36connectionwithmultipleemergingchannelssuchasdownstreamfoodprocessors,supermarketchains,andrestaurantchains,reducingitsdependenceonwholesalemarketchannel,andpromotingthechannelupgrading.(III)PigfarmingbusinessThepigfarminghasmuchincommonwithpoultrybreedinginvariousintergenerationalproductionprocesses,i.e.divisionofworkbetweendomesticandoverseascompanies.Thepigfarmingbusinessincludesbreedingpigpropagationandcommercialpigfattening.Thebreedingpigpropagationcanbesubdividedintobreedingandbreedingpigcultivation.Breedingreferstoselectionandbreedingofhighintergenerationalgoodstock,whilebreedingpigcultivationreferstofurtherexpandingpropagation,andoutputofboarsemen,sows,andcommercialgenerationpiglets.Thebreedingofpigsalsoneedslong-termresearchanddevelopmentaccumulationduetoveryhightechnologicalcomplexity.Atpresent,itismostlycontrolledbyforeignspecializedbreedingpigcompanies,althoughsomeleadingcompaniesinhavemadebreakthroughsinrecentyears.However,mostdomesticcompaniesonlyintroducethegreatgrandparentalpigsfromforeignsuppliersandcarryouttheexpandingpropagationofgrandparentsandparentsin,withoutsettingfootintheupstreambreedingoperations.Inthisregard,someofthemarespecializedbreedingpigcompanies,whodirectlysellthebreedingpigsandpigletstoothercompaniesafterexpandingpropagationofgreatgrandparentalpigsintroducedabroad,withoutsettingfootinthecommercialgenerationbreeding.Someothercasesareextensionmadebylargecommercialgenerationpigcompaniestowardsthebreedingpigcultivationoperationsupstreaminordertoensurein-houseavailabilityofbreedingpigsandpiglets,withtheparentalbreedingpigsandcommercialgenerationpigletsproducedfortheirownuse.Toensureavailabilityofpigletstothemselves,somefarmerhouseholdswouldalsoparticipateintheparentalbreedingoperations,i.e.theypurchasetheparentalsowsandboarsemenfromcompaniesandthenpropagatepigletsthemselves.Thisisdifferentfromthefactthatthefarmerhouseholdsonlybreedthecommercialgenerationotherthanbreedingpoultryinthepoultrybreeding.Evenso,moreandmorefarmerhouseholdsareexitingfromtheparentalbreedingoperationsgradually.Thisismainlybecausethelargecompaniesengageinlarge-scaleandintensivepigletproductionalongwithdevelopmentofthebreedingtechnologies,demonstratingobviousefficiencydifferencescomparedwiththepigletbreedingbyfarmerhouseholdsthemselves.ThisisembodiedinthemostcommonindicatorPSYintheindustry.Inthepasttwoyears,theaveragePSYoftheentireindustryisabout17,PSYoflargecompaniesisgenerallyover20,andtheaveragePSYofselfpropagationandselfbreedingbyfarmerhouseholdsisabout15.Duringthefatteningprocessofcommercialpigs,companiesarealsoconsiderablydifferentfromwiththefarmersintechnologyandefficiency,butsuchdifferenceinefficiencyisnotaslargeasitisinthepigletproductionoperations.Thus,largecompaniesareengagedinbreedingandpigletproduction,andfarmerhouseholdsfocusonthefatteningprocess,whichisanallocationwiththeoptimalefficiencyformedsofarintheindustry.Therearealsotwomainmodelsinthecommercialpigfatteningprocess,i.e.,in-houseintegratedbreedingand“company+farmerhousehold”cooperativebreeding.Thein-houseintegratedbreedingmeansthecommercialgenerationpigfatteningisrunentirelybyacompanyitself.The“company+farmerhousehold”cooperativebreedingmeansacompanyprovidesorsellscommercialgenerationpigletstofarmerhouseholds,whofattenthepiglets.Thisissomewhatdifferentfrompoultrybreeding,i.e.itfocusesonoutsourcedbreedingmodelunderthe“company+farmerhousehold”cooperativemodel,wherebypigletsareprovidedtofarmerhouseholdsbyacompany,andtheownershipofpigletsandhogsremainswiththecompany,whichrecoversthehogsaftercompletionofthefatteningprocess.Oralternatively,acompanydirectlysellscommercialgenerationpigletstofarmerhouseholds,butisnotresponsibleforhogrecovery,i.e.thetraditionalcontractbreedingmodelofsellingbabychicksandbabyducksandthenrecoveringinthepoultrybreedingexistsless.Similarly,thequestionofwhethercompanieschoosetooperatethecommercialpigfatteningprocessthemselvesornotisrelatedtothetechnicalattributeofthisoperation.Duringtheprocessofcommercialpigfattening,thedifferenceinefficiencybetweencompaniesandfarmersisnotaslargeasitisinthepigletproductionefficiencyatthepresentstage.Meanwhile,thelargeinvestmentinin-housefatteningaffectsthereturnoninvestment.Ontheotherhand,influencedbytheASFepidemic,numerousfree-rangefarminghouseholdsfinditrelativelydifficulttoachievegoodcontainmentresultsduetolimitedaccesstoequipmentandfacilities,thusposingahigherbio-safetyrisk.Tobetterguaranteethesecurityofbiologicalassets,companiesdivertsomeattentiontoequipmenttransformationoffree-rangefarminghouseholdsandselfconstructionoffatteningsheds.Thisalsoindirectlydrivestheoverallfacilityandequipmentupgradingoffree-rangefarminghouseholdsorindividualfarmersFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd37asawhole,andthefatteningefficiencywillbesomewhatincreased.Therefore,thefullyintegratedin-housefatteningmodelisstilllessfrequentlyusedinthedomesticpigbreedingindustryatpresent.Whennumerouscompaniesinvestedheavilyinpigbreedingbusinessinrecentyears,especiallywhencompaniescompetedformarketsharesattheearlystage,theyalsoinvestedfirstinbreedingpigcapacitiesratherthanfatteningcapacities.Thebiggestdifferencebetweenpigbreedingandpoultrybreedingisthedegreeofverticalintegrationtowardsthedownstreamslaughteringoperations.Duetothesmallerbatchesofpigstobeslaughteredthanthoseofpoultrytobeslaughtered,thesmallslaughteringhousesarecapabletodothejob,resultinginlittlemotivationtodeveloppigbreedingbusinessinparallelwithlarge-scaleindustrialpigslaughteringbusinessattheearlystageofdevelopment.Regardlessofwhetherpurchasingsowsfrompigbreedingcompaniesforselfpropagationandselfbreedingordirectlypurchasingpiglets,farmerhouseholdscanchoosetocontactpigvendorsforsaleaftercompletionoffattening,beforepigvendorsselltoslaughteringplantsorsmallslaughterhouses.Eventhoughtheratiooflarge-scalebreedingratiohasbeenincreasinginrecentyears,theannualslaughterscaleofbreedingclustersoflargecompaniesmostlyrangesfrom300,000to500,000pigs,asopposedtotheannualcapacityofatleast1millionpigsoflarge-scaleslaughteringplants.Atpresent,afterfatteningofcommercialpigs,largecompaniesstillhavetosellalargeproportionofpigstopigvendors,althoughtheycansellalimitednumberofpigsdirectlytoslaughteringplants.Thus,mostofthedomesticpigbreedingcompaniesandpigslaughtercompaniesdeveloptheirbusinessindependentlynowadays.Duetothelongercycleofpigbreeding,thepigbreedinghasmoreobviousandstablecycliccharacteristicsthanpoultrybreeding.A“pigcycle”isgenerally3-5years,whichhasbeengraduallyextendedaspigbreedingcompaniesandfarminghouseholdshavebeengrowinginsizeoverthepastyearsandbecamemorecapabletosustaintheirbusinessduringthetroughperiod.Thegrowingpigcycleandhighpigpricesfrom2015tomid-2016triggeredthepreviousroundofinvestmentinpigbreeding.Comparedwiththepast,thepresentroundofnewinvestmentsinpigbreedingismostlyledbylargecompanies,andalargenumberoffeedproducershaveenteredthepigbreedingindustry,primarilyforthepurposeofseizingthemarketsharesduringtheindustrytransformationperiodthroughtheefficientbreedingmethodswithalargescaleandfinermanagementpractices.Inthefirsthalfof2018,theentireindustrysawthelowestpigpricessince2011.Inthesecondhalfof2018,theseriousASFbrokeoutin,causinglossestovaryingdegreestobothpigbreedingcompaniesandfarmers.Underthedualimpactofdepressedmarketandepidemics,thisroundofexpansioninvestmenthasbeenslowingdown,withsomecompaniesevenstoppingexpanding.In2019,whentheASFremainedrampantandrelevantvaccinesandeffectivetreatmentsarestillnotavailableintheindustrysofar,companiesandsmallandmedium-sizedfarminghouseholdscontinueexitingtheindustryandonlythoselargecompanieswithgoodbio-safetytrackrecordsarecapabletoexpandtheirbusiness,whichledtoasharpreductionintheindustrycapacity.Theswinelivestockonhandattheendof2019fellby27.5%,andthenumberoflivepigsmarketedin2019fellby21.6%.Inthefirsthalfof2020,thankstotheextensiveuseofthree-waybackcrossandothertechnologies,thefertilesowstockandlivepigstockathomerecoveredsomewhat,as36.29millionfertilesowswereonhandathomeattheendofJune,turningpositiveforthefirsttimeonayear-on-yearbasisand5.49millionmorethanthatattheendofpreviousyear,andrecoveringto81.2%ofthefigureattheendof2017;thenumberoflivepigsonhandapproachedthelevelofthesameperiodofthepreviousyear,at340million,29.29millionmorethanthatattheendofthepreviousyear,equivalentto77%ofthatattheendof2017;251.03millionlivepigswereonhandinthefirsthalfoftheyear,19.9%downyear-on-year,but10.4%lessinextentofdegreecomparedwiththeendofthefirstquarter.Thecompanystartedlateinthepigbreedingbusiness,buthasbeeninsistingonbusinessdevelopmenttohighstandardssinceenteringthepigbreedingbusiness.Usingahighlyautomatedandintensiveproductionmode,the1millionswineproductionprojectfinancedandimplementedbythecompanyinXiajinofShandongisthelargestclusterswinepropagationsysteminatpresent,dedicatedtoestablishingabenchmarkinthedomesticpigbreedingindustry.InFebruary2016,theboardofdirectorsofthecompanydeliberatedandpassedtheStrategicPlanforPigBreedingBusiness,startingtodevelopitspigbreedingbusinessinawiderrangeofdomesticmarketswithXiajinprojectasthetemplate.Overthepasttwoyears,thecompanyinvestedheavilyinpigbreedingbusinessinordertocapitalizeontheopportunitiesarisinginthewakeoftheASFoutbreak.BytheendofJune2019,thecompanyrealizedandreservedthecapacityportfolioofover70millionpigsnationwide,andlivehogsalesreached2.12millionpigsin2019,allowingthecompanytomaintainitsspotamongthetop4listedcompaniesinthecountry.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd381.Thecompany’sbusinessandbreedingmodelsIntermsofbreedingofbreedingpigs,thecompanyhasestablishedthePICandHypordual-systembreedingpigarchitecturetoselectpigbreedssuitableforregionalmarketsaccordingtothedifferencesbetweenthemarketsinnorthandsouth.Inrecentyears,thecompany'saveragePSYhasbeenkeptabove24,whichisanindustry-leadinglevel.Inthefatteningprocessofcommercialgeneration,thecompanyconductsdifferentiatedallocationofitsresourcesaccordingtotheregionalmarketdifferences.Intheregionswhereconsumption,land,environmentandlogisticsarefavorable.,thecompanyactivelyestablishesitspresenceofpigbreedingbusiness,buildsbreedingpigfarmswheneverandwhereverpossibletoproducepigletsitself,andadoptsthe"company+farmerhousehold"cooperativebreedingmodelforitsfatteningbusinessprocess,supportedbyin-houseintegratedbreedingpractices.Inregionswherethecomprehensiveadvantagesarenotobviousbutthecompanyoperatespigfeedbusiness,thecompanywouldpurchasepigletsfromotherlargepigraisingcompaniesorspecializedbreedingpigcompanies,whileatthesametimeadoptingcooperativefree-rangefarmingandfatteningmode,thusachievingcollaborativedevelopmentofitsfeedbusinessandpigbreedingbusiness.Inthefirsthalfof2020,theratioofself-producedpigletstopurchasedpigletswasabout1:1.8,higherthanthatin2019;theratioofintegratedin-housebreedingtocooperativefree-rangefarmingwasabout1:9intermsoffatteningmodel.However,inthemediumandlongterm,thecompanywillgraduallyrealizecompletein-housesupplyofpiglets,andalsorealizethebalanceddevelopmentofintegratedin-housefeedingandcooperativefree-rangefarming.2.Divisionofdutiesincooperativefree-rangefarmingandfatteningInthecooperativefree-rangefarmingandfattening,thecompanyandfarmersrespectivelyinvestdifferentproductionfactors,assumedifferentduties,andsharedifferentearningsandrisks.Intermsofinputofproductionfactors,thecompanyisresponsiblefortheinputofpiglets,feed,veterinarydrugs,vaccines,etc.,whilefarmersprovidetheinputoffixedassetssuchaspiggery.Inaddition,farmersneedtopayabreedingdepositandbearthecostsoflabor,water,electricityandfuelonfatteningfarms.Intermsofdivisionofduties,thecompanyisresponsibleforpigletsupply,feedproduction,epidemicdiseasepreventionandtreatment,breedingtechnologyguidance,collectionandsales,whilefarmersareonlyresponsiblefordailyfeedingandcleaning.Intermsofearningsandrisks,thecompanybearsthemarketpriceriskandenjoystheopportunityprofit,whilefarmersneitherbearthemarketrisknorenjoytheopportunityprofit.Thereturnsarerelativelystableandnotdirectlyrelatedtothemarketprices,butcloselyrelatedtothebreedingresults.Inaddition,fromtheperspectiveofthecompany,thereisariskthatfarmersdon’tabidebythecontractorthecompany’sguidance,andsellpigsorusemedicationwithoutauthorization.However,asthescaleofcooperativefatteninghasbeengrowingandcooperativeperiodbecamelongerinrecentyears,incaseoftheaforesaidbreaches,farmerswillbearhugeriskofbadfaith,andthecompanywillretainthebreedingdepositandsuetothecourtforbreachofcontract.Therefore,suchbreachesarebecomingincreasinglylessinreallife.3.PricingandsettlementofthecooperativefatteningWhenthecompanysignsthecontractofcooperativefatteningwithfarmers,abasicunitpriceisfirstformedaccordingtothemarketconditionsatthattime,whichwouldchangeappropriatelyaccordingtothelatestmarketchangesatthetimeofpigrecoveryandsettlement.Whenfattenedpigsreachthemarketableweight,theyareweighed,andthebasicpriceisformedbythebaseunitpricemultiplyingtheaverageweight,beforethesettlementpriceisadjustedaccordingtothespecificweightofeachpigthatexceedsorfailstoreachtheidealweightrange,marketingrate(i.e.,thesurvivalrate),rateofconformingproducts,feedingdays,totalweightgain,end-to-endratiooffeedtopork,dailyaverageweightgain,excessiveconsumptionoffeedandtheotherproductionindicators,thusderivingthefinalbreedingservicefee.4.NumberandstructureofcooperativefarmersandtheirchangesInthefirsthalfof2020,therewere3,287free-rangefarminghouseholdswithpigsonhandincooperationwiththecompany,70%morethanthatattheendof2019.Fromtheperspectiveofscaleoflivestockonhand,farmerseachwithlessthan500pigsaccountforabout13%,23%lessthanthatattheendof2019;farmerseachwith501-1000pigsaccountforabout41%,5%higherthanthatattheendof2019;farmerseachwithmorethan1,001pigsaccountforabout46%,18%higherthanthatattheendof2019.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd39Fromtheperspectiveoffarmers'regionaldistribution,accordingtothefiveregionsdividedbytheMinistryofAgricultureforASFcontainment,farmersinthenorthregionaccountforabout23%,5%higherthanthatattheendof2019;farmersintheeastregionaccountforabout36%,11%downfromthatattheendof2019;farmersinthesouthcentralregionaccountforabout20%,10%higherthanthatattheendof2019;farmersinthesouthwestregionaccountforabout13%,3%higherthanthatattheendof2019;farmersinthenorthwestregionaccountforabout8%,6%downfromthatattheendof2019.(IV)FoodBusinessInlate2018,thecompanyadjusteditsorganizationalstructurebyclassifyingpoultryslaughteringaswhite-featheredpoultrybusinessinlightoftheindustrypatternsandthecorporatereality,soastostrengthenitsinteractionwithupstreambreedingoperations.Therefore,itsfoodbusinessonlyincludespigslaughtering,deepprocessingofmeatproducts,centralkitchenandothersegments.Foodbusinessisthelaststagebeforethevalueofagriculturalandanimalhusbandryisembodiedonthesideofconsumptionintheformofmeatproducts.Amongthem,slaughtering,asatypicalmanufacturingindustry,hasdevelopedforalongtimetowardsmaturity.Moreover,duetotheslowgrowthofthedownstreammeatconsumptiondemand,thereisaseriousovercapacityofslaughtering.Aspreviouslyexplainedinthedescriptionofpigfarmingbusiness,duetothesmallerbatchesofpigstobeslaughteredthanthoseofpoultrytobeslaughtered,thesmallslaughteringhousesarecapabletodothejob,resultinginlittlemotivationtodeveloppigbreedingbusinessinparallelwithlarge-scaleindustrialpigslaughteringbusinessattheearlystageofdevelopment.Farmerhouseholdscanchoosetocontactpigvendorsforsaleaftercompletionoffattening,beforepigvendorsselltoslaughteringplantsorsmallslaughterhouses.Eventhoughtheratiooflarge-scalebreedingratiohasbeenincreasinginrecentyears,theannualslaughterscaleofbreedingclustersoflargecompaniesmostlyrangesfrom300,000to500,000pigs,asopposedtotheannualcapacityofatleast1millionpigsoflarge-scaleslaughteringplants.Atpresent,afterfatteningofcommercialpigs,largecompaniesstillhavetosellalargeproportionofpigstopigvendors,althoughtheycansellalimitednumberofpigsdirectlytoslaughteringplants.Thus,mostofthedomesticpigbreedingcompaniesandpigslaughtercompaniesdeveloptheirbusinessindependentlynowadays.Fromtheperspectiveofslaughteringplants,whooftenneedtocollectpigsthroughpigvendors,theywouldalsofacethepressuresofshort-termshortageofpigsandovercapacity.Thegovernment'sprotectionoftheproductionmotivationofthebreedingindustryinruralareasandthestabilizationoftheconsumerpricesinurbanareasalsomaketheslaughteringindustryfacetheimplicitdualpricerestrictionintheupstreamacquisitionanddownstreamsales.Theoccasionalhappeningoflivestockandpoultryepidemicswouldalsocauseperiodicfearofmeatshortageandbringanegativeimpacttotheindustry.Inaddition,asalabor-intensiveprocessingindustry,therisingcostoflaborfurthersqueezestheprofitmarginoftheindustry.Therefore,thenewgrowthopportunitiesofthepigslaughteringindustryinrecentyearsaretocontinuouslyoptimizetheprocesstoimprovetheproductionefficiencyandgraduallyintroduceautomaticandsemi-automaticequipmenttoreplacethelabor,whenlookedatfromwithintheindustry.Fromtheexternalperspective,ontheonehand,thepremiumcanbeincreasedbyimprovingtheproductmix,includingextendingfromslaughterandcuttingwithrawandfreshmeatasthefinalproducttothefurtherprocessingofmeatproductsandeventheproductionofprepareddisheswithhigheraddedvalue,andtheshiftfromsalesoffrozenmeattothatofthechilledfreshmeat;ontheotherhand,itistoimprovethesaleschannels,thatis,shiftingfromthetraditionalmultilevelwholesalechannelstodirectsupplychannelsofsupermarketchains,chainrestaurants,foodprocessingenterprisesandotherkeyaccounts.Theopportunitiesalsolieincooperatingwithproductoptimizationandchanneloptimizationtostrengthenbrandbuilding,promotethetransformationofunbrandedmeatintobrandedmeat,andseekagreaterpresenceinsaleschannelssoastoobtainbrandpremium.Inaddition,thegradualdevelopmentofthecoldchainlogisticsindustryinChinainrecentyearsisalsoconducivetothesalesanddirectsupplyofmeatproductsinafresherstatetosupermarkets,restaurantsandotherchannels.Thedeepprocessingofmeatproductsandthecentralkitchenarethedownstreampartsofslaughteringprocess,representingtheextensionfromsimpleslaughterandcuttingtotheconditioningandprocessingoperationswithahigheraddedvalue.Comparedwiththeslaughteringpart,theproductsfromdeepprocessingofmeatproductsandcentralkitchenhavehighergrossprofitrates,andhavebeengrowingfastinrecentyears.However,duetolongtimeChineseconsumptionhabits,thepurchaseofrawmeatbyChineseconsumersstillaccountsforaverylargeproportion,whiletheratioofpurchaseofmeatproductsisstillrelativelysmall.ThisFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd40meansthecurrentoverallmarketspaceforthedeepprocessingofmeatproductsisstilllimited.Inrecentyears,thefocusofthedeepprocessingcompanieshasbeenonconstantlydevelopingnewproductforms,changingtheconsumptionstructuredominatedbyhamsausageinthepast,creatingnewconsumptionscenarios,stimulatingmoreconsumerdemandformeatproducts,andexpandingtheoverallmarketspace.Centralkitchenisatypicaldirectionintheexplorationofthesenewformsandnewscenarios.Withprepareddishesasthemainproductsandcateringcompaniesasthemaincustomers,ithelpsexplorenewgrowthopportunitiesthroughsuchproductformsandconsumptionscenarioswhicharemoreeasilyacceptedbyconsumers.Ofcourse,comparedwiththeordinarydeepprocessingofmeatproducts,centralkitchenismorecomplexinproductform,processingtechnology,preservationtechnologyandsupportinglogistics,andposesmoredemandingrequirementsforbusinessmanagementofcompanies.Inrecentyears,althoughnumerouscompanies,especiallycateringcompanies,investedincentralkitchen,manyofthemarepoorlyrunandhavecreatedexcesscapacityinthismarketsegmentintheshortterm.Onthecontrary,foodcompaniescangainuniqueadvantagesinthefieldofcentralkitchenwiththeirrichexperienceinfactorymanagementandleanproduction.Asthelivepigisthemaincostofpigslaughtering,andfreshmeatisthemaincostofdeepprocessingofmeatproductsandcentralkitchen,thesellingpricesoffoodbusinesswouldchangeinthesamedirectionasthepricesoflivepigs,However,duetothealternativeconsumptionofmeatfoodandthegovernment’seffortstostabilizeconsumerprices,thepriceelasticityofmeatfoodisusuallysmallerthanthatoflivepigs,althoughwhenmarketpricesgoup,thefoodbusinesswillalso,toacertaindegree,bearthepressureofincreasedslaughteringcost(i.e.,purchasepricesoflivepigs)andrawmeatcost.Particularly,in2019,duetotheimpactofASF,thelivepigsmarketeddecreasedby21.6%,andtheporkoutputdecreasedby21.3%,butthepricesoflivepigs,poultry,porkandpoultrymeatallincreasedsignificantlybuttovaryingdegrees.Inthefirsthalfof2020,althoughthenumbersoffertilesowsandlivepigsinstockstartedrecovering,thelivepigsmarketedcontinueddecreasingby19.9%year-on-year,sowasporkproductionoutput,duetotheinabilitytotransformthemallintomarketpigsandporkintime.Thepigslaughteringindustry,anddeepprocessingofmeatproductsandcentralkitchenindustriesstillneedtoflexiblycontroltheinventoriesandreducecostsinaleanmanner.Inparticular,theslaughteringindustryalsoneedtoproperlyacquirelivepigswhilethereareminimumlivepigsonhand,whileatthesametimepayingcloseattentiontothecontainmentofASFinporkandmeatproducts,inordertoreallymakeprofitsintheseeminglyboomingmarketThecompany'sfoodbusinesshasacertaininfluenceinChina,andenjoysaleadingpositioninspecificregions.Thecompany's"Kinghey"brandedporkwasthedesignatedsupplierofthe2008BeijingOlympicGames,theannualsalesof"Meihao"brandedporkproducts’rankthesecondinfoursouthwestprovinces,and"Liuhe"brandedpoultrymeatproductsaresoldacrossthecountry.ThePorridgeJiahecentralkitchenbusinessacquiredbythecompanyin2016isoneofthelargestcentralkitchensinmarket.Overall,thecompany'sfoodbusinessandpoultryslaughteringbusinessarefacingthesamechallengesofproductupgradingandchannelupgrading,butunlikeitspoultryslaughteringbusiness,whichisthelargestinthefoodbusinessalsofacesthechallengeofcross-regionalmarketdevelopment.Intheseyears,thecompanywillalsomakefulluseoftheexistingcapacityportfolioandchannelsofwhite-featheredpoultry,combinedwiththeplannedpigfarmingbusiness,todriveitsfoodbusinesstogrowinalargerdomesticmarketandhelpthecompany'sfoodbrandgraduallygrowfromalocalbrandtoanationalone.II.Significantchangesinmajorassets1.Significantchangesinmajorassets□Applicable√Notapplicable2.Majoroverseasassets□Applicable√NotapplicableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd41III.Analysisofcorecompetitiveness(I)Thecompany'scorecompetitivenessinthefeedbusiness:Technologicallegacycoupledinnovativeorganizationandproductsallowsthecompanytorapidlyenhanceitsscientificresearchcapabilitiesandbio-safetyandperformanceofproductssoastomeettheupgradeddemandforbreedingwithagreaterpowerofproduct.Onthebasisofscalebarrier,thecompanymovestowardsspecializationandindustrialization,whiletheefficiencyincreaseandcostreductionbroughtaboutbyaccumulatedstrengtharebeyondthereachofitscompetitors,makingthemoatwideranddeeper.1.Strongbargainingpowerandresourceintegrationcapabilitiesbroughtaboutbythelargestscale.Scaleisthebasisforsurvivaloffeedcompanies.Thelargerthescaleoffeedfactory,thelowertheproductioncostpertonandlowerpurchasecostofrawmaterials,therefore,scaleisoneofthemostessentialcompetitivefactorsinthefeedindustry.Thecompany'sfeedsalesrankthefirstinChinaandthesecondintheworld,andfeedproductionandsalesnowcover25provinces,municipalitiesandautonomousregionsinChina.Theindustry-leadingproductionandsalesvolumeandtheextensivemarketcoverageenablethecompanytoconnectwithdomesticandforeigngrainbusinessmagnatesandlargechannelsofthesamemagnitude,bringingstrongbargainingpowerbyvirtueofitsscaleadvantage.Atthesametime,asthelargestfeedproducerinChinaandoneofthelargestintheworld,thecompanyhaseasyaccesstocooperationwithmultinationalmagnates,leadingcompaniesinotherindustriesandlocalgovernmentsatalllevelsinvariousforms,suggestingasalientadvantageofresourceintegration.2.Thetechnologicallegacyplusorganizationalinnovationallowsthecompanytocontinuouslyimproveitsscientificresearchcapabilities.Throughmanyyearsofaccumulation,thecompanynowhasestablishedtheindustry'slargestfeednutritionandingredientdatabase,workscloselywithseveralrawmaterialsuppliersathomeandabroad,keepstrackofinformationaboutqualityoffeedingredientqualitynationwide,allowingthecompanytoformulatetheoptimalcombinationofnutritionandcostinatimelymannerandreducethenegativeimpactbroughtbypricefluctuationofrawmaterials.Thecompany'sfeedresearchinstitutenowhas15doctorsand102masters.Thecompanyhascutting-edgenearinfrareddetectiontechnology,andhasestablishednearly500predictionmodelsfor78feedingredientsandmorethan120feedproducts.Inrecentyears,thecompanywon6nationalscienceandtechnologyawards,8ministerial,provincialandmunicipalscienceandtechnologyawards,andowns6nationalkeylaboratoriesorcenters,2provincialkeylaboratoriesorcentersand2academicianandpostdoctoralworkstations.Thecompanyhassuccessivelyundertaken89national,provincialandmunicipalkeyresearchanddevelopmentprojects,includingthe“ApplicationandDemonstrationofHigh-efficiencyandLow-emissionFeedFormulationTechnologyforMeatDucks”,akeyresearchanddevelopmentplanunderthe13thFive-yearPlan.In2019,thecompanyundertookthenationalkeyresearchanddevelopmentprojectof"ResearchofRapidIdentification,PreventionandControlTechnologySystemforDrug-resistantBacteriaTransferredBetweenHumanandPoultryBasedonArtificialIntelligence"togetherwiththeChinaNationalCenterforFoodSafetyRiskAssessmentandtheUK-basedUniversityofNottingham;itpresidedoverorparticipatedinShandongProvince’skeyresearchanddevelopmentprojectof"KeyTechnologyResearchandIndustrializationPromotionofEnvironment-FriendlyAntimicrobial-freeFeedforSwineandPoultry".Inrecentyears,thecompanyappliedfor1,719patentsandwasgranted979patents.In2019,thecompanyappliedfor230patents,including90inventionpatents.3.Theprocurementmodelisconstantlyupgraded,andthespecializedprocurementcapabilitiesarecontinuouslyimproved.Since2014,thecompanyhasfurthertakenstockofandoptimizeditsrawmaterialprocurementsystem,strengthenedthecentralizedprocurementatdifferentlevelsinvariousforms,activelytakenstockofitssuppliersystemthroughanewmanagementplatform,andestablishedstrategicpartnershipswithCOFCO,Sinograin,JilinWine,Xiangyu,Cargill,Bunge,Yihai,DaChanandotherexcellentrawmaterialssuppliersathomeandabroad,whichallowthecompanytoaccessreliable,costeffectiverawmaterialsupplyupstream.Inthepasttwoyears,duetotheChina-UStradewarandASF,etc.,thechangesoftherawmaterialmarketwereintricate,butthefeedsupplychainsystemhasrapidlystrengthenedtherawmaterialsmarketpriceresearchcenter,significantlyimprovingthespecializedprocurementcapabilitiesandcontinuouslyupgradingtheprocurementmodelsforcorn,soybeanmealandby-products.Intermsofcornprocurement,thecompanyexpandedthepurchaseofcorninNortheastChinawhenopportuneandimplementedthestrategyoftransportinggrainsfromnorthtosouth,withover700,000tonsofcorndirectlypurchasedfromtheproducingareasin2019.IntermsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd42ofsoybeanmealprocurement,thepurchasewasconcentratedonleadingcompaniestogivefullplaytotheadvantagesofcentralizedprocurement,whilereducingcoststhroughproteinpricedifference,cross-regionalarbitrage,bulkcargologisticsandprecisedosing.In2019,thecentralizedprocurementrateattwolevelsreached93%,thedirectprocurementrateofkeyvarietieswasabout90%,andtheturnoverrateofrawmaterialswasalsoimprovedsignificantly.Meanwhile,thecompanyactivelycarriedoutsupplychainfinancingbusiness,significantlyreducedfinancialcosts,andrealizedthecumulativefinancingproceedsofabout38millionYuan.Inaddition,thecompanywillcreateanend-to-endprocurementoperationsystemguidedbydigitizationwithaviewtoconstructingadigitalsupplychainecosystemforcontinuouslyimprovingitscorecompetitivenessinprocurement.4.Fullyservingfarmers,andmaintainingcloserrelationshipwithdownstreamcustomers.FacingtheseriousASFoutbreakin2019,numeroussmallandmedium-sizedfarmerhouseholdswereindifficulties.Relyingonitsstrongstrength,thecompanylaunchedthe"pigflourishing"projecttoprovidesmallandmedium-sizedfarmerhouseholdswithcomprehensivesupportingservicessuchastechnicalandfinancialservicesthroughvariousformsofcooperationtohelpthemcontinuepigbreeding.The"everythingflourishing"project,anextensionfromthe"pigflourishing"project,wasalsotriedoutforotherfeedvarietiessuchasaquaticfeed,ruminantfeedandsoon,withsatisfactoryresults,forexample,fishflourishing,cattleflourishing,sheepflourishing,etc.Throughtheseprojects,ontheonehand,thecompanyavoidedasharpdeclineinthesalesofpigfeedamidtheASF;ontheotherhand,theserviceandthesupporttofarmersduringtheepidemicgreatlyimprovedtheserviceexperienceoffarmersandfurthersolidifiedthepartnershipbetweenfarmersandthecompany.5.Theexpansionoffarmingbusinessmakestheproductmixmorebalanced.Thelargescaleoffarmingincreasesthebargainingpowerinthebreedingoperations,whichmeansthatitisincreasinglyimportantforfeedcompaniestocontrolthefarmingoperations.Since2016,thecompanyhasgraduallyincreaseditspigfarmingbusinessbyadoptingthe"company+largefarmers"cooperation,resultinginrapidlyincreasedfarmingquantityofthecompanyinrecentyears.From2019,thecompanyhasalsograduallyincreasedthein-housefeedingandoutsourcedfeedingofcommercialgenerationmeatpoultryinitswhite-featheredpoultrybusiness,anddirectlycontrolsfarmersthroughmultiyearco-breedingcontracts.Thecompany'sfeedbusinesshasstrengthenedthecontroloverthefarmingoperationsthroughtheaforesaidextensionofindustrychain,whilethesynergisticeffectsoffeedandfarminghaveimprovedtheprofitabilityofthefeedbusiness,withtheproductmixmorebalancedandthecompetitivenessgreatlyenhanced.(II)Thecompany'scorecompetitivenessinthewhite-featheredpoultrybusiness:thecompanymasterstheproprietarycoretechnologyofbreeding,seekscontinuousinnovationinfarmingfacilityupgradinganddatautilizationandstrengthensitscontroloverthemarketthroughrapidproductionandsalesbyleveragingitsbargainingpoweronsupplyandsale.1.Intermsofbreedingofbreedingpoultry,thecompanyenjoysaremarkableleadershippositionathomewithrespecttoproductiontechnologymanagement,costmanagement,productionefficiency,andproductquality,andthecompanyhasformedsystematictechnologyandmanagementcapabilities,thecompany'sbreedinghenseachremainedproducingover115healthychickeninthepasttwoyears,andeachbreedingduckremainedproducingover220healthyducklings,whichareatthedomesticleadinglevel.Especiallyintermsofselectionofbreedingduck,thecompanycooperatedwiththeInstituteofAnimalSciencesofCAAStobreed"Zhongxin"duckswithcompleteintellectualpropertyrights,whichbrokethemonopolyofforeignvarietiesandfilledthegapofdomesticwhite-featheredmeatduckbreedingindustry.Consumption-wise,"Zhongxin”ducksarecharacterizedby"highleanmeatratio,lowsebumratioandgoodmeatquality".Theratioofbreastandlegmeatisashighas28%,andthesebumratioislowerthan22%,whichaddressedthedifficultproblemthatduckmeatofsomeforeignvarietiesis"toofatandfishy"andnotsuitableforChinesetaste.Farming-wise,"Zhongxin"Beijingducksarecharacterizedbyfastgrowth,highfeedconversionrate,strongresistancetostress,easyfeedingandhighsurvivalrate,astheratiooffeedtoweightreaches1.9:1after40daysoffeeding,withallproductionindicatorsreachingtheinternationaladvancedlevel.2.Intermsofbreedingofcommercialpoultry,thecompanyhascontinuouslyincreasedinvestmentandinnovationinitsfarmingoperations,enhanceditsdemonstrationabilityandeconomicbenefits,whilecontinuingtoadvancetheoutsourcedbreedingmodelwiththehelpofthepoultry-flourishingplatform,withclosepartnershipsestablishedwithnearly30,000farmers.Itincreasedtheresearch,developmentandinvestmentoffarmingequipment.In2019,atotalof66patentswerefiled,including29inventionpatentsand11patentsgranted.Thecompanyfinancedandbuiltthefirstlarge-scalemeatduckfarmwiththree-layerwirenetsysteminFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd43China,whichisequippedwithfansandwetcurtains,automaticfeedingline,superiorwaterline,environmentalcontrolsystemandotherautomatedequipment.Moreover,thecompanyadoptsthecircularagriculturaleco-friendlyoperationmodelwiththecombinationofplantingandbreedingtopursuetheefficient,green,andsustainabledevelopmentoftheindustry.Comparedwithothershedsofthesamecondition,thefarmingquantityhasbeenincreasedbymorethan30%,theconstructioncostislower,andthebreedingperformancehasbeengreatlyimproved.Withthehelpofautomaticenvironmentalcontrolsystem,eachshedwithafarmingcapacityof24,000requiresonlyonebreederwhocaneasilycontrolintelligentlighting,automaticwaterline,feedlineandexcrementsystem.In2019,toensurethesuccessrateoffarming,thecompanypromotedtheestablishmentofapoultryproductiondatabase,especiallyauniquesetofmeatduckproductiondatabases,whichkeepsdetailedrecordsongrowthparameters,bodylength,bodyheight,bodyweight,feedintake,waterintake,temperature,humidityandtheotherkeyindicatorsfromalargebatchofmeatducks,foruseinhardwareupgradesoffarmingequipmentontheonehand,andforthedevelopmentoffarmingtechnicalspecificationontheotherhand,soastoguaranteetheindustry-leadingfarmingindicatorsallthetime.3.Intermsofpoultryslaughtering,thecompanyhasthelargestshareofthewhite-featheredpoultryslaughteringmarketinChina,withitspoultrymeatsalesaccountingfor8%ofthenationaltotalpoultrymeatoutputin2019,especiallyinthefieldofwhite-featheredmeatduck,whereithasastrongbargainingpowerwhenfacingthedownstreammarkets.Intermsofrawmaterialssupply,asthemainproducingareasareconcentratedinShandongandsurroundingprovincessuchasHenan,Hebei,Shanxi,Liaoning,coupledwiththefactthatthecompanycontinuedincreasingtheratioofin-housebreedingofcommercialgenerationinrecentyears,thecompanyhasstrongbargainingpowerinpoultryfarmingcontractsormarketpoultryacquisitioninthoseregionalmarkets.Intermsofslaughteringandprocessingoperations,thecompanypresidedovertheformulationandrevisionoftheindustrystandard"OperatingProceduresforLivestockandPoultrySlaughtering-Duck"byvirtueofitslargestscaleofduckslaughteringinChinaandtheleadingtechnologylevel;Inrecentyears,throughconstructionandtransformation,thecompanyincreasedtheautomaticandintelligentlevelsofitsslaughteringplants,andalsostrengthenedthestandardizationandSOPdevelopment,whileallofitsplantsconstantlyimproveandoptimizeexistingoperationsandprocessstandardsinlightofreality,thusresultinginremarkablyincreasedflexiblemanufacturingcapabilitiesandproductpremiumizationcapabilities,andenhancedabilityoffastproductionandfastsale.Intermsofsales,thecompanyfurtherpromotesthepolicyof“settingsalestargetsbyconsumption,settingproductiontargetsbysales,andfastproductionandfastsale",whichallowstheinventoryturnoverrateofproductstoremainatahighlevel,andovercametheadverseimpactofcyclicfluctuationsofagriculturalproductpricesonthecompany'soperationstoacertainextent.(III)Thecompany'scorecompetitivenessinpigfarmingbusiness1.Theclustered,integratedpigfarmingmodelhighlightsthecostadvantage.Theholisticallyplannedclustered,integratedpigfarmingmodelachievestheaggregationoffullmatchingofpigbreedingprocess,talentsharing,environment-friendlytechnologyoptimizationandindustrialchaininasinglecluster,withhigherproductionefficiencyandlowercostthanthetraditionalbreedingmodel.First,theindustry-leadingpigfarmconstructioncapabilitiesandadvancedproductiontechnologyhelpeffectivelyreducethebio-safetyrisksofpigfarmsandensurethehealthyproductionofpigs.Theproductiontechnologyandprocessaremoreinlinewiththeprincipleofwhole-inandwhole-out,pigstymatching,separateproductionofsowsandweanedpigs,automaticregulationofshedenvironmentandreasonableplanningofexcrementandurinestorageandtransportation.Second,theproductionefficiencyishigh,andeachindicatorisattheindustryleadinglevel.Intermsofproductionofbreedingpigs,thecompanynowcooperateswiththebest-runinternationalbreedingpigcompaniesofPICandHyportoestablishadual-systembreedingpigarchitecture,whichallowsselectingsuitablepigbreedsaccordingtothemarketdifferencesbetweenthesouthandnorthChina;intermsofbreedingcapabilities,thecompanyadoptsmulti-anglecombinationofalgorithmtechnology,dynamiccoregroupmanagementtechnologyandfull-automaticbreedingpigdeterminationtechnology,allofwhicharethemostadvancedbreedingtechnologiesintheworld.ThroughcooperationwithbreedingexpertsinuniversitiesoftheUSandThailand,thealgorithmisconstantlyoptimized,andtheintensityofbreedingisimproved.Intheclusteredmodel,eachclusterhasitsowncorepropagationgroup,thusensuringthebio-safetyofbreedingboarsandtheefficientproductionofpiglets.Inthefirsthalfof2020,thetotalnumberofpigletsperpigsty,thenumberoflivepigletsperpigstyandnumberofweanedpigletsperpigstyinthecompanywereFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd44allindustry-leading.Last,throughsystematicapplicationofacompletepackageofproductionandmanagementtechnologies,thecostoffatteningpigshasbeencontinuouslyreduced.Inrecentyears,thecompanyorderlyimplementedapplicationandpracticeofvariousnewtechnologiesintheindustry,andformedacompletesetofproductionmanagementtechnologies.Bystandardizingthecostingitemsandmethodsofallbranchcompaniesandrefiningtheweightgaincostmodeltorealizethecomparisonofcostmanagement,thecompanyquicklyidentifiedeachbranch'skeyindicatorsofcostcontrol.Throughthenine-stageuseofself-madefeedinascientificandnutritiousmanner,coupledwiththecomfortablegrowthenvironmentsprovidedbyautomaticandintelligentpigfarms,thefullcostoffatteningofthecompany’sself-producedpigletshasbeenkeptattheindustry-leadinglevelallthetime.2.Nationallyleadingbio-safetypreventionandcontroltechnologyAftertwoyearsofexploration,65researchresultshavebeenobtainedinthefieldofASFcontainmentin10categories.Withtheclosed-loopbio-safetycontainmentsystem,thecompanywonthebattleofdefenseagainstASFbyachievingasurvivalrateofover90%,anindustry-leadinglevel.AsfortheASFcontainmentforpigfarmsoperatedbythecompany,thecompanyhaseffectivelycontainedtheASFwithintheshortestpossibletimeframethroughtransformationofphysicalfacilitiesandestablishmentofascientificASFmanagementsystem.Intermsofphysicalfacilities,theoriginalpigfarmshavebeenactivelytransformed;allnewly-builtbreedingpigfarmswerebuiltaccordingtothelatestsafetystandardsforASFcontainment,withafour-levelcontainmentsystemofred,orange,yellowandgreenzonesinpigfarmsputintousetoeffectivelyisolateASFvirus.Intermsofmanagementsystem,thecompanyestablishedanASFcontainmentorganization,formulatedthebio-safetymanagementstandardsandmanagementprocessesatalllevels,establishedacompletesetofscientificcontainmentworkmechanismandcontainmentprograms,setupathree-levelmanagementsystemfromtheHQtosectionsandthentofrontlinebusinessunit,wherebytheHQdirectsthecontainmenteffortsacrosstheboard,thesectionsprovidedailytrackingreports,andallfeedmills,breedingpigfarmsandslaughterhousesactinstrictaccordancewiththestandardASFcontainmentpolicies.This,coupledwithflightinspections,pointinspectionsandvideomonitoringguidedbytheHQ,andtheone-levelsupervisorysystemformonitoringtheexecutionprocessandverifyingtheresults,fullyrealizeimplementationofunifiedstandardsfromtoptobottom.FortheASFcontainmentonfatteningfarmscenteredonthecooperativebreedingmodel,thecompanyalsocarriedoutmorestrictmanagementaccordingtothecontainmentstandardstoensurethesafeproductionoflivepigsandproductioninterestsoffarmers.Firstly,thecompanysubsidizesandassistsfarmerstocompletetherenovationandupgradingofsheds,sothatthebreedingconditionsmeettheASFcontainmentstandards.Secondly,theASFdetectionandmonitoringwascarriedoutthroughoutthefatteningprocessofthefamilyfarms,includingsitetestbeforeprovidingpiglets,transportvehicletest,feedplanttestandmaterialstest,withatimelyreportingpolicyformedinplace.Thirdly,forbiologicalassetsandproductionsafety,veterinarymedicinemanagement,environmentalmanagementandotherstandards,comprehensiveupgradehasbeenmadeaccordingtorequirementsforASFcontainment,farmersarerepeatedlytrained,andthestandardsarefullyimplemented.Thecooperativefarmer'sunderstandingofASFhasbeeneffectivelydeepenedthroughaseriesofmeasures,andfarmerswereenabledtograduallyactinaccordancewiththestandardsthrough"communication,assistance,mentoringandinspection",thuseffectivelyguaranteeingsafeproductionoflivepigs.3.LeadingpigstydesigncapabilitiesforthefutureThecompanyhasbeenfollowingtheconceptof"meetingtheneedsofpigs,theneedsofpigfarmers,andtheneedsofsustainabledevelopment"inthedesignofpigfarms,soastocreatescientificandautomatedmodernpigfarmsbothforthepresentuseandthefutureneeds,whicharethestartingpointofcomprehensiveoperationalcapabilitiesofsuccessfulbusiness.Thepresentusemeanspayingattentiontothedetailsofproductionrequirements,scientificplanning,andeliminatingwaste.Forexample,thefunctionalareas,pigstiesandpensthatmatchwiththeestablishedproductionmodel;clearlydefiningthepig,materialandotherflowsinawaythatmeettheefficiencyandbio-safetyrequirementsatthesametime;meetingtheenvironmentalneedsofpigsindifferentclimatesandatdifferentstages.Facingthefuturemeansfocusingonsustainabledevelopmentneeds.Forexample,intensiveconstructionofpigstiesinresponsetothescarcityofland;theirreversibleactionsofenvironmentalprotection,andzeroemissionsofpigstyconstruction;theintelligentandautomateddesignofmachineryinpiggeriesinresponsetoincreasedlaborcost.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd454.Industry-leadingenvironment-friendlytreatmentcapabilitiesTheenvironment-friendlytreatmentoftheplantsconsistsofsewagetreatment,solidmanuretreatmentandtreatmentofsickordeadpigs.Inalltreatmentprocesses,thecompanyhasmadeavailableaseparateodortreatmentmethodinordertoachievetheenvironmentalobjectivesthatfullymeetthenationalstandards,andindustry-leadingenvironment-friendlytreatmentcapabilities.Intermsofsewagetreatment,thecompanyadoptsthe"pre-treatment+UASB+two-stageA/Oprocess",sothattheeffluentindicatorisCODconcentration≤200mg/L,andammonianitrogenconcentration≤100mg/L,whichreachthestandardoffarmlandirrigationandallowdirectdischargetofarmland.Thecompany'streatmentmethodforreturningbiogasslurrytofarmlandcanmakethesowbearingcapacityof1muoflandreach30sows,farmorethantheindustryaverageofnomorethan3sows,meaningthecompanyonlyneeds400-500muoflandtobuildasowfarmaccommodating12,000sows.Intermsofsolidmanuretreatment,thecompanyadoptsthemethodofverticalfermentationtank,whichisclosedthroughouttheprocessandoccupiesasmallarea.Solidmanureproducedbyafarmof12,000sowscanbetreatedinonly10-15days;atthesametime,itmeetsthenationaldischargestandards,andthefermentationprocesscanreachahightemperatureof60to70℃,whichcaneffectivelykillthepathogenicmicroorganismsinfecesandavoidthespreadofdiseases.Inaddition,theverticalfermentationtankcanalsodealwithsickanddeadpigsarisingintheplant,thusenhancingthebio-safetyandcontainmentcapabilities.5.ContinuouslyinnovatingsalesmethodandincreasingthesalesefficiencyacrosstheboardThecompany'sself-raisedcommercialpigsaresoldcompletelyaccordingtheholisticallyplannedpigsalesmethod,soastoensuretheoptimalpricesoflargepigsonthemarket.Apartfromasmallportionoflivepigswhichcanbetransportedtothecompany-ownedslaughteringplantsforslaughter,othermarketablelivepigsaresoldthroughthe"easypigtrading",alivepigtradingplatformdevelopedbythecompany.Aftermorethanoneyear'saccumulation,thesystemofthistradingplatformisbecomingincreasinglymatureinalgorithmandtradingdata,guidingpigsalesthroughthegeneratedpigpriceindex,formingregionalpricecomparisonandmonitoring,andhelpingincreasethecompany'saveragepigsalesprices.(IV)Thecompany'scorecompetitivenessinthefoodbusiness:high-qualityresourcesacrosstheindustrychain,traceabilityoffoodsafety,andgradualupgradingofbrandchannels1.Inthetermsofproducts:Safety,preciseresearchanddevelopment,andflexibleproductionacrosstheindustrychainRelyingonthecompany'swholeagricultureandanimalhusbandryindustrychain,thecompany’sfoodbusinesscanacquiresaferawlivestockandpoultrythatiscontrolledintheupstreamoperationsoffeed,breedingandcultivation,trulyachievefoodsafetyfromthefarmlandtotablethroughthesafeproductioninslaughteranddeepprocessingoperations,whichallowsthesafestandmostconfidentfreshchilledmeattoreachthetableIn2018,thecompanyestablisheditsfoodindustryresearchinstituteandsetupanexcellentfoodresearchanddevelopmentteamforproductdevelopment.ThestrongresearchanddevelopmentcapabilitiessupportustodevelopavarietyofToBandToCproductsforcustomersandconsumersatthefoodend.Thecompanyiscapableofstandardizedandefficientproduction,hasparticipatedintheformulationof"GBT9959.1-2019FreshorFrozenPorkandPorkBy-products:Part1:PorkSlices"andothernationalstandards,andconstantlyraisesthelevelofautomatedandintelligentoperationsthroughconstructionandtransformationinrecentyears.ThecompanyalsoconstantlystrengthensstandardizationandSOPdevelopment,whileitsfactoriesconstantlyimproveandoptimizetheexistingoperationsandprocessstandardsinlightofreality,resultinginsignificantlyincreasedflexibleprocessingcapabilitiesandproductpremiumizationcapabilities.2.Inthetermsofbranding:astrongcombinationofparentandchildbrandscreated.NewHopeLiuheholdsaleadingpositionintheagricultureandanimalhusbandryandfoodindustries,butinthecontextofconsumptionupgrade,thefoodbusinessisbeingestablishedfastinabrandnewmanner.The"NewHopeFood",astheparentbrand,issupportedbyhigh-qualityresourcesacrosstheagricultureandanimalhusbandryindustrychainwhetherontheToBend"NewhopeLiuhe"orToCend"NewHopeFood",whichmakestheparentbrandmoreviable.Kinghey,Liuhe,MeihaoandPorridgeJiahe,asthechildbrands,havealsobeenrecognizedbythecustomersandpartnersintheindustry.Allthosearethebrandadvantageswehaveaccumulatedoverthepast30yearsintheagricultureandanimalhusbandryandfoodindustries.3.Inthetermsofsaleschannels:Theadvantagesoftraditionalchannelsaresolid,whiletheemergingchannelsaregrowingrapidly.Thecompanyhasbeenoperatingthewholefarmingandfoodindustrychainsformanyyears,furtherconsolidatesandFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd46strengthensitstraditionalcirculationchannelssuchaswholesalemarkets,farmmarketsandrawmaterialsprocessing,whilesynchronouslyupgradingandmovingforwardnewchannelsinthecontextofintensifiedmarketcompetitionandconsumptionupgrade.AttheToBend,wefocusonthe4trillion-Yuancateringmarket,establishedspecializedsalesserviceteams,andprovidelong-termservicestoHaidilao,Kungfu,Yunhaiyaoandothercateringcompanies,andwonthehonorofhigh-qualitysuppliermanytimes.AttheToCend,wehavemadegoodprogressinthesupermarketande-commercechannels.Inthetermsofsupermarket,wehaveestablishedpresenceinWal-Mart,RT-Mart,Yonghui,Carrefour,Hema,Wumart,Metroandothernationalkeysupermarkets,coveringatotalofover5,000stores.Intermsofe-commerce,thecompanyhasdeeplypenetratedtheJDandTmallplatforms.inthefirsthalfof2020,thecompanyconductedlivestreamingpromotioneventsseveraltimes,guidingover100customerstosignupforcommunitye-commerceplatforms,withmonthlyaveragefanbasegrowthof0.33millionandwinningthesaleschampionshiponJDandTmallplatformsforseventimes.Atthesametime,weactivelyreachedoutintonewretailandnewbusinessformats,andcarriedoutfullcooperationwithAliRetailSystem,JDNewChannelandotheremergingchannelcustomerstomakecontinuousinnovationandupgradingofproductsandsupplychain.Relyingonoperationsacrossthewholeindustrychain,wewillcontinuetooptimizeandupgradethechannelstructure,providegoodvalue-addedservicesthroughintegrationofinternalandexternalresources,constantlyimprovethepremiumizationcapabilitiesforproductsandservices,andbuildbarrierstocompetition.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd47Section4DiscussionandanalysisofbusinessoperationsI.OverviewInrecentyears,thecompanyhasbeenadheringtothemedium-andlong-termstrategyof"strengthenthefeedbusiness,expandingpigbusiness,refinepoultrybusiness,excelinfoodbusiness,anddeepenoverseasoperations",creatingabalancedportfolioofinter-industrylivestockandpoultrydiversificationandintegrationofhusbandryandfoodintheindustry.Thecompanyiscommittedtobecomingahigh-qualityblue-chipenterprisewithstablegrowth,amodernenterprisethatleadstheindustry’sscientificandtechnologicalinnovation,thevanguardofinternationaloperationsforChinesefarmingandfoodcompanies,aninvestor-friendlycompany,andawonderfulcompanythatactivelyfulfillssocialresponsibility.Inthefirsthalfof2020,thedomesticagriculturalandanimalhusbandryindustrypresentedasituationwherepigbusinessboomed,poultrybusinessworsenedandbothbusinesseswentdownasynchronously.Inthepigindustry,ASF’simpactcontinued,butthelivehogsonhandandcan-breed-sowsonhandinthecountrystartedrecoveringslowlyafterreachingthebottomofthiscycleinthefourthquarterofthelastyear,thankstothegradualstabilizationofthesituationduetoaraisedlevelofASFpreventionacrosstheindustry.36.29millioncan-breed-sowswereonhandathomeattheendofJune,turningpositiveforthefirsttimeonayear-on-yearbasisand5.49millionmorethanthatattheendofpreviousyear,andrecoveringto81.2%ofthefigureattheendof2017;thenumberoflivepigsonhandapproachedthelevelofthesameperiodofthepreviousyear,at340million,29.29millionmorethanthatattheendofthepreviousyear,equivalentto77%ofthatattheendof2017.However,astheongoingrecoveryofcan-breed-sowsonhandandlivepigsonhandacrosstheindustrystillreliesheavilyonuseofthethree-waybackcrosstechnology,theindustrystillfacesthechallengesoflowfarrowingefficiency,higheliminationrateandlowsurvivalrateofpiglets,meaningthereisstillalongwaytogobeforetheindustrycapacitiestrulyrecover.Inthefirsthalfoftheyear,afterapproachingtheheightof40YuanduringtheSpringFestival,porkpricesfellforthreemonthsinarow,beforebouncingbackagaininJunetoabove35Yuan.Althoughtheporkpriceswillgodowninazigzagmanner,theyareexpectedtoremainhighforalongtime,whichbringsawindowoftremendousopportunitytoleadingcompaniesthatcanrapidlygrowandproperlycontainASFatthesametime.Inthepoultryindustry,asthetwo-yearmarketboomhasresultedinobviousindustryovercapacity,grandparentalbreedinghensonhandsandparentalbreedinghensonhandnationwideinthefirsthalfoftheyearreachedthehistorichighinthepastfiveyears,thereforealongwiththegradualstabilizationoftheASFsituation,coupledwiththeweakeneddemandcausedbytheCOVID-19,thepoultrycyclebegangoingdownobviouslyandfasterthanpigcycle,andthepricesofcommercialbabychicksandbabyducksstartedfallingdramaticallyafterreachingaheightofnearlyoneyearinOctoberandNovemberof2019,by77%and76%respectivelybyJune2020,duringwhichperiodthepricesofchickenandnon-slaughteredducksfellby25%and31%respectively.Asthebreedingpoultrycapacitiesupstreamremainhighandde-capacityisalengthyprocess,meaningthepoultryindustrywillfaceahugepressurewithintheyear.Inthefeedbusiness,thesalesofpoultryfeedhasbeensupportedduetothepoultrybreedingvolumeremaininghigh,butprofitsareunderpressureduetothedecreasingfarmingprofitability;pigfeedwillenjoyanopportunityofincreaseinbothquantityandprofitabilityalongwiththerecoveringpigfarmingcapacities,coupledwiththestillhighporkprices;aquaticfeedwouldbeaffectedtoacertainextentduetothesummerfloods;whileontheendofrawmaterials,theCOVID-19hasbeenaffectingtheproductionandtradeofbulkcropsandwillalsoproducepressureonthecostsoffeedingredients.TheNo.1documentissuedbytheCentralGovernmentinearly2020furtheremphasizedtheneedtoachievedecisivevictoryinpovertyalleviation,butextremelyrarelyelaborated“howtoacceleratetherecoveryoflivepigproduction”inaspecialsection,fullyreflectingthehighattentionofthecentralgovernmenttothisissueandfurthershowingthatthepigbusinessisfacingnotonlytremendousmarketopportunitiesbutalsotremendouspolicyopportunities.Inrecentyears,thecompany’sdevelopmentstrategieshavebeenclearandstable,andthecompanysuccessfullyoperateditsnewstructureoffivestrategicbusinessunitsforthefirstyearin2019,withallbusinessoperationswellunderway,professionalFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd48capabilitiesfurtherimprovedandstrategicobjectivessubstantiallyachievedasplanned.Inthefirsthalfof2020,thecompanyoptimizedandupgradedpartofitsbusinessoperationswhilekeepingitsoverallorganizationstable.Initsrapidlygrowingpigbusiness,fourverticalteamsthatestablishedattheendofthelastyearwerefurtherexpandedtosixverticalteams;intherelativelymaturefeedindustry,the“newregions”withmorelong-actingappraisalandincentivemechanismswereexpandedfrom3provincesattheendofthelastyearto6provincesatpresent;inthefoodbusiness,afoodbusinessdevelopmentheadquarterwasestablishedtostrengthenthecollaborativedevelopmentofallunitsofthefoodbusiness.Intermsofcapitaloperation,thecompanysuccessfullycompletedtheissuanceandlistingof4billion-YuanconvertiblebondsinearlyJanuaryandlauncheda10billion-Yuanrenewablecorporatebondprojectand4billion-Yuanprivateplacementtowardsmajorityshareholdersinthefirsthalfoftheyear.BytheendofAugust,thesetwoprojectshavebeenapprovedforregistrationandpassedthereviewrespectivelyandareabouttolaunchofferingactivitiesinfurtheranceoftheindustrialdevelopmentofthecompany.TheCOVID-19outbreakinthefirsthalfoftheyearalsoposedunexpectedchallengestotheindustryandthecompany,butthecompanylostnotimetorespondbyrapidlyandorderlyarrangingworkresumptionwhilestrengtheningemployeesafetyandepidemiccontainmenteffortsandcontributedtothesecuresupplyofdailynecessitiesacrossthecountry,whileactivelyparticipatinginanti-epidemicassistancebydonating10millionYuanincashtoSichuanGreenBeltCharityFoundationforagro-relatedCOVID-19containmentandreliefofpopulationsinneed.Throughtheaforesaidefforts,duringthereportingperiod,thecompanyachievedbusinessrevenueof44.696billionYuan,9.402billionYuanmoreyear-on-year,registeringagrowthrateof26.64%;thecompanyachievednetprofitsof3.164billionYuanattributabletoshareholdersofthelistedcompany,1.602billionYuanmoreyear-on-year,registeringagrowthrateof102.57%.(I)Feedbusiness:organizationaladjustmenthelpsrevitalizetheteamsandsolidifytechnology,procurement,productionandsales,withsalesmargingrowingsteadily.Thefeedbusinessremainsamajorpillarofthecompany,andthecompanyhasbeenpayinggreatattentiontothedevelopmentofitsfeedbusinessinrecentyears.Inthefirsthalfof2020,thecompanyoptimizedandadjusteditsorganizationalstructureoffeedbusinessunitbycontinuingtorevitalizefrontlineteamsandexpandingthe“newregions”withmorelong-actingappraisalandincentivemechanismstosixprovincesofGuangdong,Guangxi,Henan,Sichuan,HubeiandJiangsuontheonehand;ontheotherhand,thecompanyfurtherstrengthenednationwidecollaborationbyformingthreeoperatingregionsofnorth,southandShandongonthebasisofoperatingareasandnewregions,withinwhichprojectteamsweresetupbasedonfeedvarietiestostrengthenthetechnologicalempowerment,resourcecollaborationandspecializationenhancementforalloperatingareasandnewregionswithintheoperatingregions.Onthisbasis,thecompanycontinuedenhancingitscompetitivenessintermsofpowerofproduct,powerofprocurement,powerofmanufacturingandpowerofservice,withaviewtoachievingpowerfulgrowth.1.Buildupthepowerofproduct:respondingtoantimicrobial-freefeedpolicywithbiologyandenvironmentalprotectionandcomingclosertomarketswithresearchandtechnology.Inordertorespondtothe“newpolicyonantimicrobial-freefeed”startedinthefeedindustryinthisJuly,thecompany,bymakingfulluseofitsmultiyeartechnologicallegacyofbiologicalenvironment-friendlyfeed,startedactivelystudyingandscreeningantimicrobial-freefeedoptionsatthebeginningofthisyear,graduallyadvancedantimicrobial-freefeedtestsandlaunched5solutionsforpigfeedandpoultryfeedinsuccessioninthefirsthalfoftheyear,whichlaidasolidfoundationforcontinuedgrowthofitsfeedbusinessaftertheenactmentoftheaforesaidnewpolicyinthesecondhalfoftheyear.Atthebeginningoftheyear,thecompanystartedbringingitsR&DcentersclosertomarketsandadvancedconstructionofsecondaryR&Dcentersonthebasisofthefeedresearchinstituteatthecorporatelevel,with16secondaryR&DcentersbuiltinplacesofarandplanningtoestablishR&Dcentersineachoperatingareaandnewregioninthefuture.AlongwiththefurtherpenetrationofitsR&Dcenters,thecompanystuffednutritionistsforallfeedvarietiesatthelevelofoperatingareaandfurtherbroughtitsR&Dcapabilitiesclosertolocalmarketsinordertoachievemarket-drivenR&Dandrapidcommercializationofresearchfindings,advancethefarmingtechnicaltrainingandincreasethecustomersatisfaction.2.Buildupthepowerofprocurement:thecompanystrengthenedimportofrawmaterialsandtradefinancecollaborationinanefforttoachieveultimatecosts.Thisyear,theglobalspreadofCOVID-19,coupledwiththeturbulentinternationalsituationinrecentyears,hasposedgreaterchallengestopurchaseofimportedrawmaterials.Whileintensifyingdevelopmentofhomemaderawmaterials,thecompanyestablishedanimportedrawmaterialsprojectteaminthefirsthalfofthisyeartoensureproperselectionandFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd49purchaseofimportedrawmaterials,especiallybyacceleratingtheGMOpermittingprocess.Meanwhile,withgraduallystrengthenedcentralizedprocurementatthelevelsofheadquartersandoperatingarea,thecompanycontinuedstrengtheningcentralizedprocurementbyheadquarters,expectingtoachieveover35%ofHQcentralizedprocurementratethroughouttheyearinfurtheranceofreductioninprocurementcosts.Inaddition,relyinguponitscentralizedlargepurchasesandpowerfulcapabilitiesoffundallocation,thecompanymadegreatereffortstoadoptthemodelofdecentralizednegotiationandcentralizedpaymentandconductedcentralizedsettlementinordertoreducethefundingcostintheprocurementprocess.3.Buildupthepowerofmanufacturing:leanproductionforcostreductionandefficiencyincrease,anddistributionofbigplantsforcapacityoptimization.Thecompanycontinuedadvancingleanproduction,withitsper-tonfullcostdecreasedbyover5%year-on-yearinthefirsthalfoftheyear.Meanwhile,thecompanycontinuedpursuingconstructionofbigplantsinsupportofcapacityoptimizationandupgrading,expectingtobuild6bigplantseachwith0.30milliont/acapacityand10bigplantseachwith0.20milliont/acapacitythroughouttheyear.4.Buildupthepowerofservice:solidifyingitsadvantageousfinancialservicesandusheringinanewchapterofspecialaquaticfeedservices.Thecompanyhasbeencommittedtobuildinganintegratedanimalnutritionserviceplatformacrosstheindustrychainforitsfeedbusiness.Asfinancialserviceshavebeenastrongsuitofthecompanyamongvarioustypesofservices,thecompanycontinuedactivelyassistingfarmersinaccessingexternalagriculturalguaranteesandquickbankloansthisyear,whileitsvariousfundingsourcessuchas“everythingflourishing”andcorporatefinancialservicesplatformeffectivelysupportedthefinancialneedsoffarminghouseholdswithhighfundingsourcesthathavehighcreditlinesandlowinterestrates.Specialaquaticfeedisamarketsegmentthatthecompanyhasbeenfocusingitseffortsoninrecentyears,asthecompanyadjusteditsprevioussimplefeedsalestoa3-dimensionalmarketdevelopmentmodel,whichhelpsthecompany’sspecialaquaticfeedbusinessesachieveleapfroggrowthof85%inthefirsthalfoftheyearbysettingupservicestationsforessentialfarmingbases,increasingofstaffingofservicepersonnel,andcoordinatingtheaccesstoresourcessuchasbreedingstockbothupstreamanddownstream,waterdiversionandanimalhealthcare.Duringthereportingperiod,thecompanysold10.52milliontonsofvariousfeedproducts,1.73milliontonsmoreyear-on-year,registeringagrowthrateof20%.Amongthem,2.44milliontonsofpigfeedweresold,0.46milliontonsmoreand23%upyear-on-year,exportsalesofpigfeedamountedto1.34milliontons,0.18milliontonslessand12%downyear-on-year;7.36milliontonsofpoultryfeedweresold,1.16milliontonsmoreand19%upyear-on-year;0.50milliontonsofaquaticfeedweresold,60,000tonsmoreand13%upyear-on-year;thecompanyachievedbusinessrevenueof22.586billionYuan,3.329billionYuanmoreand17.29%upyear-on-year;thecompanyrealizedgrossprofitsof1.779billionYuan,373millionYuanmoreand26.49%upyear-on-year.(II)White-featheredmeatpoultrybusiness:developingproductionbasesaccordingtostrategiesandflexiblyoperatingthebusinessforefficiencyincreaseandcostreduction.Thewhite-featheredmeatpoultrybusinessisanimportantcornerstoneofthecompany’sbusinessgrowthandhasbecomeanimportantpartofthecompany’sextensiontowardsthedownstreamendoffoodwithan8%marketshareinthenationaltotaloutputofpoultrymeat.Overthepastyear,alongwiththegradualstabilizationoftheASFsituation,thelivepigproductioncapacitiesnationwidegraduallyrecoveredfromthebottom,which,coupledwiththeweakeneddemandcausedbytheCOVID-19,causedthepoultrycycletogodownapparentlyandafterthanthepigcycle,asthepricesofcommercialgenerationbabychicksfelldramaticallyafterreachingaheightofnearlyayearinOctober2019,by77%asofJune2020,duringwhichperiodthechickenpricesalsofellby25%.Facingthedownwardmarkettrends,thecompanystucktoitsstrategicprioritiesbycontinuingbuildingmorefarmingbasesontheonehand,ontheotherhand,thecompanyensuredefficiencyincrease,costreductionandflexibleoperationthroughoutitsbusinessprocessestoaddresstheadverseeffects.1.FlexiblyadjustingoutputofyoungbreedingpoultryandtakingmanymeasuresforefficiencyincreaseandcostreductionFacingthedownwardmarkettrends,thecompany’sbreedingpoultrybusinessunitstartedconductingday-to-dayoperationscheduling,estimationofhatchingvalueeverydayandestimationoffeedingvalueeveryfivedays,rapidlyadjustedthecapacitiesofold-agepoultryandhatchingstandards,andflexiblyadjustedtheoutputofyoungbreedingpoultrytoreducedeficits.Inday-to-dayFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd50operations,thecompanyshortenedtheshedidleperiodbyoptimizingtheoperationprocessinordertoreducedepreciationexpensesandlaborcosts;establishedprovenancehealthdatabasesandincreasedthesurvivalrateofyoungbreedingchicksbyestablishingadigitalassessmentsystemforintroductionofbreedingchicks;developedspecialfeedfornewvarietiesofbreedingpoultryandreducedfeedcostsbyoptimizingthefeedformulas;reducedthelaborcostsandenergyconsumptionbyadoptingautomaticfeeding,closedenvironmentalcontrolandautomaticeggcollectionsystems,farmingshedthermalenergyrecoverydevicesandotheradvancedtechnicalequipment;realizedtheonlinesalesof50%oftheinternally-generatedduckvariety“ZhongxinDuck”andreducedthesellingcostsbyestablishingdigitalmarketingplatforms.2.ContinuingdevelopingproductionfarmingbasesagainstthecycleandreducingtheinputcostbyadjustingthemodelWhenthemarketpricesbegingoingdownorevenremainatthebottom,mostofindustryparticipants,especiallyfree-rangefarminghouseholds,wouldslowdowntheirinvestmentsandcapacityexpansionorevengraduallyexittheindustry,atwhichtimeopportunitiesexactlyexistforleadingcompaniestoexpandtheirbusinessagainstthecycle.Inthefirsthalfoftheyear,thecompanybuilt33in-housecommercialgenerationfarmswithadditionalcapacitiesequivalenttoannualoutputofabout50millionbirds,inadditiontoin-housecommercialgenerationfarmsunderconstructionthathavecapacitiesequivalenttoannualoutputof66millionbirds.Facingtheexistingfarmercooperationsystem,however,thecompanycontinuedincreasingtheratioofdirectsupplyinthefirsthalfoftheyearto73%incaseofchickenbusinessand45%incaseofduckbusinessontheonehand,2%and4%upfromtheendofthelastyear;ontheotherhand,thecompanyflexiblyadjustedtheratiosofcontractedplacementtimingtodifferenttypesofbreedingcontractsbasedonthequantitiesandpricesofupstreamyoungbreedingpoultryonmarkets,thusensuringtheoptimalcontractcostandseekinggreaterprofitsamidtheunfavorablemarketpricesthatwentdownasawhole.3.Continuingtooptimizechannelsandproductsontheendofpoultrymeatandautomatingitsslaughterprocessforcostreduction.TheCOVID-19outbreakinthefirsthalfoftheyearseriouslyaffectedtheconsumptionofpoultrymeat,buttherelativelysaferandhigher-qualitysaleschannelsandconsumptionscenariosalsoembracedanearlierandbetterrecoveryduringandaftertheepidemic.Thecompanyalsocontinuedtooptimizeitschannelsandproductsbytakingadvantageofthesetrends.Thecompanyintensifieditseffortstoacquirecustomersinproximityononehand,ontheotherhandthecompanymadegreatereffortstodevelopsuchadvantageouschannelsasfoodprocessing,cateringservices,supermarketsandnewretailbeyondthetraditionalwholesalemarketchannel,andstrengthenedsalesoffreshproductsandcustomizedproductsinresponsetotheneedsofthesechannels,withthepoultrymeatsalesandcustomizedproductsalesinadvantageouschannelsincreasedby16%and3%respectivelyinthefirsthalfoftheyear.Inordertomatchwithdifferenttypesofcustomersandproductrequirements,thecompanyalsofurtherpursuedgradingofitsslaughterhousesandcreateddifferentiatedmanagementstandardsanddifferentiatedmarketingandservicestrategiesbasedoncustomerhierarchy.Forthoseslaughterhousesthatmatchwithadvantageouschannels,thecompanytooktheleadtoinvestinandcarriedoutautomationupgradingandrenovationtoreducelaborcosts.Duringthereportingperiod,thecompanysoldatotalof253.09millionbabychicksandbabyducks,7.02millionmoreand2.9%upyear-on-year,198.75millioncommoditychicksandducksweresold,47.51millionmoreand31.4%upyear-on-year;351.57millionadultchicksandadultduckswereslaughtered,5.36millionmoreand1.5%upyear-on-year;0.9049milliontonsofchickenandduckmeatsweresold,55,000tonsmoreand6.5%upyear-on-year;thecompanyachievedbusinessrevenueof9.079billionYuan,708millionYuanlessand7.24%downyear-on-year;thecompanyrealizedgrossprofitsof478millionYuan,490millionYuanlessand50.67%downyear-on-year.(III)Pigfarmingbusiness:remarkablyincreasedquantitiesofconstructionsandbreedingpigsonhand,supportedbyupgradedASFcontainmentefforts1.Processoptimizationandtechnologicalinnovationacceleratedprocessofprojectimplementation.TheCOVID-19outbreakinthefirsthalfoftheyearaffectedthelivepigcapacitybuildingacrosstheindustry,alsoprolongedthedurationofcapacityshortageandhighporkprices.Inordertoseizethiswindowofgrowthopportunity,thecompanyinsistedoninnovationanddevelopmentiterationandformedamodelofadvancingpermitting,constructionandproductionprocessesinparallel,whichhelpsremarkablyacceleratetheprojectimplementationprogress;meanwhile,intermsoftechnologicalprocess,thecompanyalsograduallyexploredandadoptedagreenhousepigfarmingmodel,wherebythecompanyreplacestraditionalpigfarmswithgreenhousesthatcanbebuiltFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd51fasterandatalowercostbutincompliancewithsafetyandepidemicpreventionstandards.Inthefirsthalfoftheyear,thecompanyhad16projectscompletedwithinmerely180days.BytheendofJune2020,thecapacitiesofprojectscommissionedbythecompanyamountto18millionpigs,andthecapacitiesofprojectsunderconstructionandexpectedtocompletebySeptember30oftheyearamountto12millionpigs,increasingthebalanceoffixedassetsandworksinprogressofthecompanyby67.10%fromtheendofthepreviousyear.Inaddition,therearecapacitiesofprojectsplannedandexpectedtocompletebyMarch17ofthenextyearwhichamountto10millionpigs,andcapacitiesofprojectswithlandcontractingorbankingcompletedwhichamountto30millionpigs,thusincreasingthemaximumcapacityofpigfarmingbeyond70millionpigsintheory.Moreover,amongtheprojectscurrentlyunderconstructionandplanned,thenumberofprojectslocatedinsoutheastcoastalprovincesandneartheconsumingareasincreasedremarkably,thefuturecommissioningofwhichwillgreatlyimprovethelevelsofcommoditypigsellingpricesofthecompany.2.Developingbreedingbusinesswiththebreedingpigsonhandgrowingataquickenedpace.TheASFhascausedtremendouslossesoflivepigsandfertilesowsacrosstheindustry.Althoughthethree-waybackcrossandothertechnologiesbeganbeinggraduallyadoptedintheindustryinthesecondhalfofthelastyear,whichallowedthecan-breed-sowsonhandandlivepigsonhandtorecoversomewhat,theindustrystillfaceschallengesoflowfarrowingrate,higheliminationrateandlowsurvivalrateofpiglets,meaningthatacceleratingintroductionandbreedingofpigbreedsandincreasingthenumberofbreedingpigsonhandespeciallytheauthentictwo-waycrossbredsowsonhandsoastoprovidemoreself-producedpigletshasbecomethekeytoseizingthepresentwindowofsignificantdevelopmentopportunity.Thecompanyadvancedshort-termandlong-termmeasuresatthesametimetoacceleratethedevelopmentofitsbreedingbusiness.Inshortterm,thecompanyscientificallyformulatedthepacesandplansofpurchase,introductionandhybridizationofbreedingpigsinlightofitsprojectprogress,exertedcontroloverthekeynodesof“commencement,introduction,first-timehybridization,completionandfarrowing”andformulatedstandardizedintroductionrequirementsandprocedurestoperformstrictgeneidentificationforallvarietiesintroducedforguaranteedqualityofsourcespecies.Inaddition,thecompanytemporarilytransformedsomeofin-housefatteningfarmsintobreedingfarmstohelpacceleratethecultivationofbreedingpigs;meanwhile,thecompanyactivelystudiedandpracticesthethree-waysowbackcrosstechnologytohelpincreasethequantitiesofbreedingpigsandself-producedpigletsonhandrapidly.Inthelongterm,thecompanypayssufficientattentiontospecializeddevelopmentofbreedingpigselectionandcultivationbusinessbyformingadedicatedpigbreedingcompanyinthefirsthalfoftheyear,managingtheessentialclusterofbreedingpigfarmsofthecompanyinoperationandtobebuiltalone,andfocusingondevelopmentofthecutting-edgebreedingtechnologies.Currently,thecompany’spigbreedingteamhasdevelopedasuiteofgeneticbreedingsoftwareandstartedcommissioningittohelpthecompanyselectandbreedexcellentpigsinamoreconvenientandefficientmanner,increasePSY,reducetheratiooffeedtomeatandimprovethefarmingprofitability.3.ContinuousiterationofASFcontainmentmeasuresandfull-scaleadoptionofintelligenttechnologies.Inlinewithitscomprehensivebio-safetycontainmentapproachthatischaracterizedby“multilevelisolation,full-scaledetectionandpreciseelimination”,thecompanyfurtheroptimizeditssystemsandupgradeditstechnologiesbasedonthehistoricalexperience.Asthecompany’spigfarmingscalegrowsandprojectsinoperationbecomenumerous,thecompanyconstantlyestablishedmoretestinglabs,with113testinglabsestablishednationwidebytheendofthefirsthalfof2020,asopposedto20attheendofthelastyear.Intermsofhardwareequipment,thecompanymadeconcentratedeffortstoadvancethedevelopment,provisioninganduseofintelligentpreventionandcontrolequipmentwithinpigfarms,suchasinfraredimagers,portablePCRandstandardchambers,which,inconjunctionoflabtests,canidentifyabnormalpigsfasterandmoreaccurately,thusensuringearlydiscoveryandpreciseremoval.Intermsofpigfarmfacilitiesoperatedbythecompany,thecompanyequippedeachindependentpigfarmwithupgradedmaterialsfumigationchambers,disinfectionpointsandmaterialstransferstationsandformulatedstandardprocessesforingressandegressofmaterialsandpersonnelintoandfrompigfarms,withaviewtoshuttingthegatesofpigfarmstorisks.Withrespecttomanagementoffree-rangefarmingactivitiesoffarmers,thecompanyalsocontinuedassistingfarmersinrenovatingfarms,makingavailableintelligentequipment,providingtechnicalsupport,andarrangingfree-rangefarmingpersonnelforonsitemanagementwhennecessarytoassistfarmerswithbio-safetypreventionandcontrol.ThankstostableASFcontainmentefforts,thecompanymanagedtokeepthefullcostoffatteningforself-producedpigletsat13.6Yuan/kginthefirsthalfoftheyear,0.6Yuanupfrom2019mainlyduetothebreedingservicefeeandfeedcost,afigurestillattheindustry-leadinglevel.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd524.Withmorethan30,000pigindustrypractitioners,multichannelfinancingcontributestobusinessdevelopmentIntermsoftalentreserve,thecompanycontinuedrecruitingmoreexternalpractitionersononehand,byconductingonlinecommunicationandonlinerecruitmentandbyparticipatinginthe“nationwiderecruitmentcampaign”launchedbyChinaMediaGroupamidtheimpactoftheCOVID-19;ontheotherhand,thecompanylauncheda“bridgingprogram”internallytoencouragecolleaguesinterestedinpigfarmingfromotherindustrialsectorstoswitchtothepigfarmingbusiness.Bytheendofthefirsthalfof2020,thecompany’semployeesengagedinpigbusinessexceeded30,000.Alongwiththeremarkablyincreasedtalentreserve,therelatedtrainingactivitieshavealsobecomeincreasinglyimportant.Thecompanyconductedsystematictrainingofcampus-recruitedcollegegraduateswhoholdalargeproportionofitsnewemployeesbymeansof“unifieddesignandcollaborativeorganization”,withatotalofover240,000person-timesinvolvedintraininginthefirsthalfoftheyear.Intermsofcapitalreserve,thecompanyhasatotalofover70billionYuangeneralcreditlimitswithmanyfinancialinstitutionsworldwide,ofwhichlessthan50%havebeenusedsofar,withtheaveragefinancingcostkeptbelow3.56%inthefirsthalfoftheyear.Inaddition,thecompanycompletedissueof4billionYuanconvertiblebondsandissueof2billionYuanmediumtermnotes(COVID-19containmentbonds)and1billionYuanultra-short-termfinancingbillsinthefirsthalfoftheyear,andfileda4billionYuanprivateplacementplan,whichwillmoreeffectivelysupportthefinancialneedsofitspigfarmingbusinessinthefuture.Duringthereportingperiod,thecompanysoldatotalof0.14millionbreedingpigsandpigletsand1.98millionhogs,totaling2.12millionpigs,0.78millionmoreand58.0%upyear-on-year;thecompanyachievedbusinessrevenueof7.41billionYuan,5.27billionYuanmoreand246.59%upyear-on-year;thecompanyrealizedgrossprofitsof2.96billionYuan,2.59billionYuanmoreand708.11%upyear-on-year.(IV)Foodbusiness:continuedoptimizationofproductsandchannelsandcollaborativeinnovationofmarketingandlogisticsFoodbusinessisthedirectionofthecompany'slong-termtransformationanddevelopment.Thecompany’sfoodbusinessnowconsistsofthreemainunitsofpigslaughtering,deepprocessingofmeatproductsandcentralkitchen.Inthefirsthalfof2020,thecompanyoptimizedandadjustedtheorganizationalstructureofitsfoodbusinessbyestablishingafoodbusinessdevelopmentheadquartersandstrengtheningthecollaborativedevelopmentofallunitsofitsfoodbusiness.1.Strengthenedpopularproductsofcrispyporkslicesbylaunchingnewproductsofpuremeatsausagesinsuccession:asthecrispyporkslicelaunchedbythecompanyin2019becameastarproductoftheyear,thecompanycontinuedexpandingmarketsforcrispyporkslicesinthefirsthalfoftheyear,byfocusingonC-endchannelsandcoveringover5,000supermarketsandoutletswhiletheCOVID-19seriouslyaffectedcateringchannelsontheonehand,ontheotherhand,itstrengthenedsalesviae-commercechannelusingthelivestreamingpromotionbyinfluencersononline.Inthefirsthalfoftheyear,thesalesrevenuefromcrispyporksliceproductaloneamountedto150millionYuan,afigurethatexceedstheannualsalesofthelastyear.Byvirtueofthechannelsopenedbycrispyporksliceandthebrandpopularity,thecompanylaunched“pure”starch-freesausage,starch-freesmallsausagesofpuremeatandotherproductsinsuccessioninthefirsthalfoftheyear,andsoughtiterativeoptimizationthroughrapidadjustmentsbasedonmarketfeedback,inabidtomakethemnewbestsellers.2.SunkmarketingeffortsinsideSichuanandupgradedmarketexpansionmodelsoutsideSichuan:intermsofregionalmarkets,thecompanycontinuedsinkingitsmarketingeffortsinsideSichuanandexpandingmarketsoutside.InSichuanmarkets,thecompanyformulateda“point-to-point”dedicatedmarketingprogramforleadingcustomersacrosscities,concentrateditspromotionalresourcestoseizecustomersofcompetitors,withsecondarymarketsalesinsideincreasedbyover25%inthefirsthalfoftheyear.Innon-Sichuanmarkets,thecompanygraduallyintensifieditseffortstodevelopsupermarketchannelandcateringchannelonthebasisofitspreviouswholesaleagencymodel,andgraduallyintroducedlocallymarketableproductssuchashigh-endsausages;inaddition,attheheadquarterslevel,thecompanyformedamarketdevelopmentstrategywherebythreefoodunitsleadthedevelopmenteffortsinresponsetothreeessentialconsumingareasofBeijing,ShanghaiandGuangzhourespectivelyandotherunitscollaborateandfollowuponproducts,thusintensifyingthedevelopmentofkeymarketsoutsideSichuan,withthenon-Sichuansalesofporkproductsdoubledyear-on-yearinthefirsthalfoftheyear.3.Collaborativeinnovationofmarketingandinnovationsupportsdevelopmentofemergingchannels:theCOVID-19outbreakinthefirsthalfoftheyearseriouslyaffectedthecateringchannelandregionalmarketsinHubeiandWuhan.ByleveragingtheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd53opportunitiesamidthecrisis,thecompanyestablisheditspresenceinfivesupermarketssuchasZhongbaiHoldingsandFreshHemainWuhan,thusexpandingitschannelcoveragewhilehelpingresumeproductionandensuresupplyinWuhan,withadditional162retailoutletsopened.Ontheotherhand,thecompanyintensifiedeffortstoexpanditse-commercechannelandincreaseitsbrandpopularitythroughplatformads,promotionandlivestreaming.Inthefirsthalfoftheyear,thecompanyconductedatotalof9livestreamingpromotionsessionsforfood,andguidedover100customerstosignupforcommunitye-commerceplatforms,withmonthlyaveragefanbasegrowthof0.33millionandwinningthesaleschampionshiponJDandTmallplatformsforseventimes;toensuretherapidstockingincreaseine-commercechannel,thecompanyworkedwiththird-partyspecializedcoldchainlogisticscompaniestoexplorethepossibilityofestablishingfrontendwarehousesnationwidesoastobuildupitssupplychaindistributioncapabilities.Duringthereportingperiod,thecompanysold104,000tonsofporkproducts,17,000tonslessand14.2%downyear-on-year,mainlyduetothebottomingoflivepigsonhandduetotheASF,resultinginincreaseddifficultiesinpigacquisition;thecompanysold95,000tonsofvariousdeep-processedmeatproductsandprepareddishes,15,000tonsmoreand18.4%upyear-on-year;thecompany’sfoodbusinessrealizedbusinessrevenueof4.14billionYuan,1.31billionYuanmoreand46.56%upyear-on-year;realizedgrossprofitsof469millionYuan,105millionYuanmoreand28.77%upyear-on-year.Thecompanyshallcomplywiththedisclosurerequirementssetforthin“ShenzhenStockExchange’sIndustryInformationDisclosureGuidanceNo.1---ListedCompaniesEngagedinLivestock,PoultryandAquacultureBusinesses”.II.AnalysisofmainbusinessSeetherelatedcontentsof“I.Overview”of“DiscussionandAnalysisofBusinessOperations”.Year-on-yearchangesinkeyfinancialdataUnit:YuanThisreportingperiodThesameperiodofthepreviousyearYear-on-yearincreaseordecreaseCausesofchangeBusinessrevenue44,696,040,364.0835,294,298,951.2626.64%Operatingcosts38,883,226,717.7532,010,499,396.8521.47%Sellingexpenses645,291,464.41852,892,928.02-24.34%Managementexpenses1,620,715,240.331,112,280,327.1145.71%Mainlyduetoincreasedsizeofthecompanyandincreasedcorrespondingcostsasthecompanymadegreateffortstodevelopitspigbusiness.Financialexpenses431,355,596.36184,126,249.04134.27%Mainlyduetoincreasedinterestexpenseresultingfromanincreasedscaleofdebtfinancingofthecompany.Incometaxexpenses171,269,538.95154,996,593.1510.50%R&Dspending103,889,170.6470,598,941.3347.15%MainlyduetoincreasedinputofR&DmaterialsandincreasedR&DpersonnelaswellasincreasedlevelsofcorrespondingcompensationasthecompanycontinuedtoexpandR&DFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd54investment.Netcashflowfromoperatingactivities658,593,331.58543,684,173.9421.14%Netcashflowfrominvestingactivities-15,567,369,290.18-2,229,477,023.00-598.25%Mainlyduetoincreasedinvestmentoflong-termassetsresultingfromtheexpandedscaleofpigbusinessofthecompanyduringthereportingperiod.Netcashflowfromfinancingactivities19,232,700,766.30-44,768,680.1243,060.17%Mainlydueto:1.thecompanyissuingconvertiblecorporatebondsduringthereportingperiod;2.increasedbankborrowingsacquiredduringthereportingperiod.Netincreaseincashandcashequivalents4,323,226,543.31-1,732,695,973.28349.51%Mainlyduetoissueofconvertiblecorporatebonds,increasedbankborrowingsandcontinuouslyincreasedrevenueduringthereportingperiod.Netprovisionforinsuranceliabilitiesaccrued9,814,421.355,977,130.1964.20%IncreaseinprovisionforinsurancecontractssetasidebybondingcompaniesOtherincome66,064,040.0136,218,931.4682.40%IncreaseincurrentincomeofthecompanyfromgovernmentsubsidiesIncomefromchangeinfairvalue-4,111,949.63-61,001.80-6,640.70%Mainlyduetotheeffectsoffairvaluechangeoffinancialproductsthatthecompanyinvestsin.Lossfromassetimpairment-2,555,550.61-28,213,568.7890.94%MainlyduetocurrentreversalofpartofinventoryimpairmentlossofthecompanyIncomefromassetdisposal-65,147,148.15-38,316,628.29-70.02%Mainlyduetocurrentincreaseinprofitandlossfromdisposalresultingfromsignificantlyincreasedsizeofproductivebiologicalassetsofthecompany.Significantchangesincompositionorsourceofprofitsofthecompanyduringthereportingperiod□Applicable√NotapplicableNosignificantchangesoccurredincompositionorsourceofprofitsofthecompanyduringthereportingperiodCompositionofbusinessrevenueUnit:YuanThisreportingperiodThesameperiodofthepreviousyearYear-on-yearincreaseordecreaseAmountPercentageofbusinessrevenueAmountPercentageofbusinessrevenueFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd55Totalbusinessrevenue44,696,040,364.08100%35,294,298,951.26100%26.64%ByindustryFeedBusiness22,585,863,819.3050.54%19,256,802,129.1154.57%17.29%Poultrybusiness9,078,957,817.3120.31%9,787,212,118.1927.73%-7.24%Pigbusiness6,947,750,208.9515.54%1,923,372,106.715.45%261.23%FoodBusiness4,135,206,512.589.25%2,821,459,444.667.99%46.56%Commerceandtrade1,721,078,828.703.85%1,116,359,728.463.16%54.17%Others227,183,177.240.51%389,093,424.131.10%-41.61%ByproductFeedBusiness22,585,863,819.3050.54%19,256,802,129.1154.57%17.29%Poultrybusiness9,078,957,817.3120.31%9,787,212,118.1927.73%-7.24%Pigbusiness6,947,750,208.9515.54%1,923,372,106.715.45%261.23%FoodBusiness4,135,206,512.589.25%2,821,459,444.667.99%46.56%Commerceandtrade1,721,078,828.703.85%1,116,359,728.463.16%54.17%Others227,183,177.240.51%389,093,424.131.10%-41.61%ByregionOverseas4,696,266,485.3410.51%4,014,470,036.3311.37%16.98%Domestic39,999,773,878.7489.49%31,279,828,914.9388.63%27.88%Industries,productsorregionsthateachaccountformorethan10%ofthebusinessrevenueoroperatingprofitsofthecompany√Applicable□NotapplicableUnit:YuanBusinessrevenueOperatingcostsGrossprofitrateIncreaseordecreaseinbusinessrevenuefromthesameperiodofthepreviousyearIncreaseordecreaseinoperatingcostfromthesameperiodofthepreviousyearIncreaseordecreaseingrossprofitratefromthesameperiodofthepreviousyearByindustryFeedBusiness22,585,863,819.3020,807,326,263.017.87%17.29%16.56%0.57%Poultrybusiness9,078,957,817.318,601,173,581.665.26%-7.24%-2.47%-4.64%Pigbusiness6,947,750,208.953,987,807,520.1142.60%261.23%156.11%23.56%FoodBusiness4,135,206,512.583,666,360,058.5611.34%46.56%49.20%-1.56%ByproductFeedBusiness22,585,863,819.3020,807,326,263.017.87%17.29%16.56%0.57%Poultrybusiness9,078,957,817.318,601,173,581.665.26%-7.24%-2.47%-4.64%Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd56Pigbusiness6,947,750,208.953,987,807,520.1142.60%261.23%156.11%23.56%FoodBusiness4,135,206,512.583,666,360,058.5611.34%46.56%49.20%-1.56%ByregionOverseas4,696,266,485.343,979,952,984.6315.25%16.98%15.83%0.84%Domestic39,999,773,878.7434,903,273,733.1212.74%27.88%22.15%4.09%Dataaboutmainbusinessofthecompanyafterthemostrecentadjustmentaccordingtothestatisticalspecificationattheendofreportingperiodifthestatisticalspecificationofmainbusinessdataofthecompanywasadjustedduringthereportingperiod□Applicable√NotapplicableRemarksoncausesofmorethan30%year-on-yearchangeinrelateddata□Applicable√NotapplicableIII.Analysisofnon-mainbusiness√Applicable□NotapplicableUnit:YuanAmountPercentageoftotalprofitsRemarksoncausesofformationWhethersustainableornotInvestmentincome1,241,206,487.8831.03%MainlyconsistingofinvestmentincomeaccountedforandrecognizedundertheequitymethodduetoholdingofequitiesinChinaMinshengBankingCorp.YesProfitandlossfromchangeinfairvalue-4,111,949.63-0.10%Assetimpairment-49,856,223.54-1.25%Non-businessrevenue31,392,988.990.78%Non-businessexpenditure143,494,162.873.59%IV.Analysisofassetsandliabilities1.SignificantchangesinassetcompositionUnit:YuanTheendofthisreportingperiodAttheendofthesameperiodofthepreviousyearIncreaseordecreaseinRemarksonsignificantchangesAmountPercentageoftotalassetsAmountPercentageoftotalassetsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd57proportionMonetaryfunds10,136,302,285.9411.10%3,718,643,173.547.16%3.94%Accountsreceivable1,081,728,695.651.18%1,140,253,137.982.20%-1.02%Inventories15,039,010,762.7116.47%7,157,365,861.0413.78%2.69%Investmentproperties372,891.350.00%389,384.000.00%0.00%Long-termequityinvestments22,388,741,130.1024.52%19,806,680,186.6538.14%-13.62%Fixedassets19,740,436,035.0921.62%9,969,824,524.9819.20%2.42%Worksinprogress5,652,829,977.266.19%3,366,184,524.496.48%-0.29%Short-termborrowings15,736,033,772.5517.24%9,219,125,416.1717.75%-0.51%Long-termborrowings14,724,197,365.1216.13%1,551,822,927.002.99%13.14%Productivebiologicalassets7,950,854,233.418.71%592,324,808.711.14%7.57%Duetoincreasedbreedingpigsasthecompanymadegreateffortstodevelopitspigbusiness.2.Assetsandliabilitiesmeasuredatfairvalue√Applicable□NotapplicableUnit:YuanItemBeginningamountCurrentprofitandlossfromchangeinfairvalueAccumulatedfairvaluechangeschargedtoequitiesCurrentprovisionforimpairmentCurrentpurchaseamountCurrentsalesamountOtherchangesEndingamountFinancialassets2.Derivativefinancialassets4,594,255.65-350,592.33142,282,170.68132,288,050.245,420,609.764.Investmentsinotherequityinstruments318,276,827.48318,276,827.48Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd58Subtotaloffinancialassets322,871,083.13-350,592.33142,282,170.68132,288,050.24323,697,437.24Totaloftheabove322,871,083.13-350,592.33142,282,170.68132,288,050.24323,697,437.24Financialliabilities5,240,664.99-3,761,357.303,761,357.30ContentsofotherchangesWhetherthemeasurementattributesofmajorassetsofthecompanychangedsignificantlyduringthereportingperiod□yes√no3.RestrictionsonassetrightsasoftheendofthereportingperiodItemEndingbookvalueCauseofrestrictionMonetaryfunds120,743,501.72VariousmarginsFixedassets141,038,890.50Usedascollateralsforlongandshort-termborrowingsIntangibleassets56,262,898.48Usedascollateralsforlongandshort-termborrowingsLong-termequityinvestments474,203,600.00Usedaspledgesforlong-termborrowingsTotal792,248,890.70--V.Analysisofinvestments1.Generalcondition√Applicable□NotapplicableInvestedamountduringthereportingperiod(Yuan)Investedamountduringthesameperiodofthepreviousyear(Yuan)Extentofchange22,732,259,166.9420,370,171,235.2111.60%2.Significantequityinvestmentsacquiredduringthereportingperiod□Applicable√Notapplicable3.Ongoingsignificantnon-equityinvestmentsduringthereportingperiod□Applicable√Notapplicable4.Financialassetsmeasuredatfairvalue□Applicable√NotapplicableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd595.Investmentsinfinancialassets(1)Investmentsinsecurities□Applicable√NotapplicableThecompanyhadnoinvestmentsinsecuritiesduringthereportingperiod.(2)Investmentsinderivatives√Applicable□NotapplicableUnit:10,000YuanNameofoperatorofderivativesinvestmentRelated-partyrelationshipWhetherrelated-partytransactionornotTypeofderivativesinvestmentInitialamountofderivativesinvestmentStartdateEnddateBeginninginvestedamountPurchaseamountwithinthereportingperiodSalesamountwithinthereportingperiodAmountofprovisionforimpairment(ifany)EndinginvestedamountPercentageofendinginvestedamountinnetassetsofthecompanyattheendofreportingperiodAmountofactualprofitandlossduringthereportingperiodFuturesbrokeragecompaniesNon-relatedpartyNoFuturesandoptioncontractsOctober08,2019May10,2021-25.114,228.2213,842.66-179.850.00%-929.97CommercialbanksNon-relatedpartyNoInterestrateswapandforeignexchangeforwardsApril29,2019May31,2021-39.54-613.86345.770.00%-228.55Total0-----64.6414,228.2213,228.8165.920.00%-1,158.52SourceoffundingforderivativesinvestmentsSelffinancedInvolvementinlitigations(ifany)NotapplicableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd60Dateonwhichtheboardapprovalofderivativesinvestmentisannouncedanddisclosed(ifany)August31,2018Remarksonriskanalysisandcontrolmeasuresofderivativespositionsduringthereportingperiod(includingbutnotlimitedtomarketrisk,liquidityrisk,creditrisk,operationalriskandlegalrisk)Remarksonriskanalysisandcontrolmeasuresofderivativespositionsduringthereportingperiod(includingbutnotlimitedtomarketrisk,liquidityrisk,creditrisk,operationalriskandlegalrisk)I.RiskanalysisCommodityfutureshedgingoperationcaneffectivelymanagethepurchasepriceriskofrawmaterials,especiallyreducetheimpactoffallingpricelosscausedbyhighinventoriesonthecompanywhenrawmaterialsfallsharply,buttherewillalsobecertainrisks:1.Riskofabnormalpricefluctuations:Intheory,thefuturesmarketpricesandthespotmarketpricesofallthetradecategoriesattheclosingdatewillreturntothesamelevel.Intherarecasesofirrationalmarket,thefuturespricesandspotpricesmightstillnotreturnattheclosingdate,thusgivingrisetoasystemicriskevent,whichinturnaffectshedgingoperationschemeofthecompany,evencausinglosses.2.Capitalrisk:Iftheamountofinvestmentinfuturestradingistoolargeaccordingtotheoperatinginstructionsissuedbythecompany,itmayleadtocapitalliquidityrisk,orevenresultinactuallossescausedbyforcedliquidationduetoinsufficienttimetosupplementthemargin.3.Technicalrisk:technicalriskmaybecausedbyincompletecomputersystems.Inordertopreventtheadverseimpactofexchangerateandinterestratefluctuationsonthecompany'sprofitsandshareholders'equity,thecompanyneedstoconductcapitaltransactionbusinessofvalue-preservedexchangerateandinterestratetoreducetheriskexposureofforeignexchangeandinterestrate,butatthesametimetherearecertainrisks:1.MarketriskThedifferencebetweenthecontractexchangerate/interestrateandtheactualexchangerate/interestrateatmaturitydatewillgenerateinvestmentgainsandlossesinthevalue-preservedcapitaltransactionbusiness;Duringthedurationofthevalue-preservedcapitaltransactionbusiness,therewillberevaluationgainsandlossesineachaccountingperiod,andthecumulativevalueoftherevaluationgainsandlossesatmaturitydateisequaltothegainsandlossesoninvestment.2.LiquidityriskThevalue-preservedforeignexchangecapitaltransactionbusinessisbasedonthecompany'sforeignexchangerevenueandexpenditurebudget,andmatcheswiththeactualforeignexchangerevenueandexpendituretoensurethatthecompanyhassufficientcapitalforclearingatthetimeofclosing,orselectsthederivativesforclose-outnettingtoreducethecashflowrequirementsatmaturitydate;Thevalue-preservedinterestratecapitaltransactionbusinesswillallbeclosedbasedonthenetamountofinterestratedifference.3.PerformanceriskThecounterpartiesofthecompanyinvalue-preservedcapitaltransactionbusinessareallbankswithgoodcreditandmaintaininglong-termbusinessrelationswiththecompany,forwhichthereissubstantiallynoperformancerisk4.Otherrisks.Whenconductingbusiness,iftheoperatorsfailtofollowtheprescribedproceduresfortheoperationofvalue-preservedcapitaltransactionbusinessortofullyunderstandthederivativesinformation,theoperationalriskswilloccur;IfthetermsofthetransactioncontractFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd61arenotclear,thelegalriskswillbelikelytooccur.II.RiskmanagementstrategiesRiskmanagementstrategiesforcommodityfutureshedging1.Matchthehedgingbusinesswiththecompany'sproductionandoperation,andstrictlycontrolthefuturesposition.2.Strictlycontrolthecapitalscaleofhedging,reasonablyplanandusethemargin,issueoperatinginstructionsinstrictaccordancewiththecompany'spoliciesonfuturestradingmanagement,andconductoperationsonlyafterapprovalaccordingtotheregulations.3.ThecompanyhasestablishedtheDerivativesInvestmentManagementPolicyandtheFuturesManagementPolicy,makingclearprovisionsforhedgingbusiness,andsetupadedicatedfuturesoperationteam,dedicatedfuturesoperationmonitoringteamandcorrespondingbusinessprocessesforcontrolthroughimplementationofauthorizationandpostconstraints,internalauditandothermeasures.4.Thewarningmechanismformediumandlong-termtrendsofmajorvarietieshasbeenestablished.Accordingtothemonitoringmechanismofmarketpricetrends,thefuturesoperationandmonitoringteamofthecompanyregularlypredictsthefuturetrendsofmajorvarietiesinacertainperiod,soastoensuretimelyjudgmentanddispositionoffuturesvarietiesincaseofabnormalfluctuations.Riskmanagementstrategiesforvalue-preservedcapitaltransactionbusiness1.Thecompanyconductsvalue-preservedcapitaltransactionbusinessforthepurposeofreducingtheimpactofexchangeratefluctuationsonthecompany,andprohibitsanyriskyspeculations;Theamountofthecompany'svalue-preservedcapitaltransactionbusinessmaynotexceedtheupperlimitoftheauthorizedamountapprovedbytheboardofdirectorsorthegeneralmeeting;Thecompanymaynotengageinanyleveragedcapitaltransactions.2.Thebusinessworkinggroupofthecompanyshallconductriskanalysisontransactionsbeforecarryingoutthecapitaltransactionbusiness,andformulateandsubmitthetransactionplans(includingcapitaltransactionvariety,term,amount,transactionbank,etc.)andfeasibilityanalysisreportstothebusinessleadershipgroup.3.Thevalue-preservedcapitaltransactionbusinesscontractofthecompanyshallbeexecutedafterthebusinessworkinggroupsubmitsittoandobtainapprovalfromthechieffinancialofficer,presidentandchairman.4.Thecompanyshallsigncontractswithtransactionbankswithpreciseandclearterms,andstrictlyimplementtheriskmanagementsystemtopreventlegalrisks.5.Thefinancedepartmentofthecompanyshalltimelytrackthechangesinopenmarketpricesorfairvalueofcapitaltransactioncontracts,timelyassessthechangesinriskexposureofthetradedcontracts,andregularlyreporttotheriskcontrolcommitteeoftheboardofdirectors;Ifanyabnormalsituationisfound,itshallbereportedtotheriskcontrolcommitteeoftheboardofdirectorstopromptthebusinessworkinggrouptoimplementemergencymeasures6.Thecompany'sinternalauditdepartmentshallconductcomplianceauditoncapitaltransactioncontractsonaregularbasis.ChangesinmarketpricesorproductfairvalueofThehedgingtransactionvarietyofthecompanyisthevalue-preservedcapitaltransactionbusinessfortheprevalentvarietiesinthedomesticfuturesmarkets,forwhichthemarkettransparencyishighFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd62derivativesthatthecompanyhasinvestedinduringthereportingperiod,withtheanalysisoffairvalueofderivativestodisclosethespecificmethodsusedandrelatedassumptionsandparametersetting.andthetransactionsareactive,andthetransactionpricesandtheintradaysettlementunitpricefullyreflectthefairvalueofderivatives.Remarksonwhethertheaccountingpoliciesandaccountingprinciplesofthecompanyforderivativesduringthereportingperiodchangedsignificantlycomparedwiththepreviousreportingperiod.Theaccountingpoliciesandaccountingprinciplesrelatedtothecompany'sderivativestransactionshavebeenimplementedinaccordancewiththerelevantprovisionsoftheEnterpriseAccountingStandards--RecognitionandMeasurementofFinancialInstrumentsandtheEnterpriseAccountingStandards--HedgingissuedbytheMinistryofFinanceofthePeople'sRepublicofChina,withoutanychanges.SpecialopinionsofindependentdirectorsonderivativesinvestmentsandriskcontrolofthecompanyTheCompany’sderivativesinvestmentsforthepurposeofhedginghavebeenassessedbydesignatedrelateddepartmentintermsofinvestmentrisk.Toputanendtospeculationintheinvestmentprocess,thecompanyhasestablishedtheDerivativesInvestmentManagementPolicyandtheFuturesManagementPolicy.Whileconductingderivativesbusiness,thecompanyshouldcontinuetoenhancetheprofessionalcompetencyandcapabilitiesofoperatingpersonnelandstrengthensupervision.VI.Salesofsignificantassetsandequities1.Salesofsignificantassets□Applicable√NotapplicableThecompanydidnotsellanysignificantassetsduringthereportingperiod.2.Salesofsignificantequities□Applicable√NotapplicableVII.Analysisofmajormajority-ownedandminority-ownedcompanies√Applicable□NotapplicableMajorsubsidiariesandminority-ownedcompaniesthathaveanimpactonthecompany'snetprofitofmorethan10%Unit:YuanCompanynameCompanytypeMainbusinessRegisteredcapitalTotalassetsNetassets:BusinessrevenueOperatingprofitsNetprofitsShandongNewHopeSubsidiaryImportandexportbusiness:saleof3,000,000,000.0019,462,296,590.565,632,584,634.6021,906,906,318.58357,957,026.40296,656,200.26Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd63LiuheGroupCo.,Ltdmedicatedfeedadditives;dealinginfeedingredients;enterprisemanagementconsultingservices,etc.SichuanNewHopeLiuheFarmingCo.,LtdSubsidiaryFeedresearchanddevelopment:wholesaleandretailoffeedingredientsandfeed-relatedproducts;plantingofcerealsandothercrops;saleofveterinarydrugs.800,000,000.0011,462,786,670.221,796,144,607.737,321,297,246.52179,569,066.15111,124,512.57NewHopeLiuheInvestmentCo.,LtdSubsidiaryVentureinvestment,investmentmanagement,financialadvisory,wealthmanagementconsulting,businessreorganizationconsulting,marketsurvey,creditinvestigation,technologydevelopmentandtransfer,technicalconsultingservices.576,555,600.0020,394,478,078.2320,039,478,078.230.001,188,028,724.491,187,850,602.74TibetXinhaoTechnologyCo.,LtdSubsidiaryFeeding,saleandslaughterofpigs;agriculturalscienceresearchandexperimentaldevelopment;promotionandtrainingofrelatedtechnologies;production,processingandsaleofanimalfarmingequipment;production,processingandsaleofcompoundfeed,concentratedfeedandconcentratesupplements(theaforesaiditemsandtermsaresubjecttolicense):importandexportbusiness:projectinvestmentandmanagement;scienceand500,000,000.0038,520,229,588.003,672,841,353.286,219,998,103.681,327,345,554.881,249,945,912.85Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd64technologyexchangeandpromotionservices.Acquisitionanddisposalofsubsidiariesduringthereportingperiod√Applicable□NotapplicableCompanynameWayofacquisitionanddisposalofsubsidiariesduringthereportingperiodEffectsonoverallproduction,operationandperformanceZhejiangYihaiAgriculturalDevelopmentCo.,LtdSharepurchaseLossesof563,524.41YuanTaiqianNewHopeLiuheLuxinFoodCo.,LtdEstablishedbyinvestmentNoeffectsShandongKingleyFoodCo.,LtdEstablishedbyinvestmentLossesof141,156.22YuanGuangzhouHopeFoodCo.,LtdEstablishedbyinvestmentLossesof280,370.97YuanYichunNewHopeAnimalHusbandryDevelopmentFundPartnership(LP)EstablishedbyinvestmentNoeffectsShixingXinhaoFarmingCo.,LtdEstablishedbyinvestmentLossesof567,473YuanRuyuanYaoAutonomousCountyXinhaoFarmingCo.,LtdEstablishedbyinvestmentLossesof685,378.64YuanTongchengXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof117,911.02YuanJiexiNewHopeLiuheBreedingCo.,LtdEstablishedbyinvestmentLossesof39,225.98YuanYingtanXinliuTechnologyCo.,LtdEstablishedbyinvestmentLossesof523,606.48YuanKerqinZuoyiMiddleBannerXinhaoFarmingCo.,LtdEstablishedbyinvestmentLossesof5,612.96YuanBinzhouZhanhuaDistrictXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof154,547.76YuanHandanNewHopeLiuheBreedingCo.,LtdEstablishedbyinvestmentLossesof370,102.99YuanAnyueNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentLossesof243,947.79YuanWeiyuanXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsLonghuiNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentLossesof757,217.7YuanHainanXinliuAgriculturalReclamationFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof756,799.14YuanYichunXinwangFarmingCo.,LtdEstablishedbyinvestmentLossesof97,869.88YuanLipuXinhaoFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof213,498.46YuanLiaoningXinwangFoodCo.LtdEstablishedbyinvestmentProfitsof49,455.95YuanDongyingXinhaoModernFarmingCo.,LtdEstablishedbyinvestmentLossesof628,932.54YuanHengyangXinhaoFarmingCo.,LtdEstablishedbyinvestmentLossesof21,683.30YuanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd65YixianXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof90,412.5YuanChangningNewHopeLiuheEco-FarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsLiquanNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentLossesof72,452.15YuanNanheXinhaoFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof63,159.11YuanXinminXinwangFarmingCo.,LtdEstablishedbyinvestmentLossesof214,565.24YuanRuianNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentLossesof68,449.09YuanShanxianXinhaoFarmingCo.,LtdEstablishedbyinvestmentLossesof745,301.43YuanFujianDatianNewHopeLiuheAnimalHusbandryCo.,LtdEstablishedbyinvestmentLossesof317,689.07YuanNanjingXinmuFarmingCo.,LtdEstablishedbyinvestmentLossesof25,356.33YuanGulinXinliuEco-FarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsMuyangXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof196,583.10YuanWuyiXinhaoFarmingCo.,LtdEstablishedbyinvestmentNoeffectsYantaiXinhaoFarmingCo.,LtdEstablishedbyinvestmentLossesof50,607.67YuanBinzhouNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentLossesof770,907.95YuanDachengXinhaoTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsLaizhouNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentLossesof79,147.28YuanZhenjiangNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentNoeffectsChongqingQianjiangDistrictXinhaoFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof138,817.14YuanYanyuanXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsJiangxiNewHopeLiuheFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsSuiningXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof522,624.11YuanXiajiangXinliuFarmingCo.,LtdEstablishedbyinvestmentNoeffectsZhaoxianXinhaoFarmingCo.,LtdEstablishedbyinvestmentNoeffectsNeijiangNewHopeLiuheFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof3,314.18YuanQuyangXinhaoFarmingCo.,LtdEstablishedbyinvestmentNoeffectsLuochuanXinliuTechnologyCo.,LtdEstablishedbyinvestmentLossesof34,709.33YuanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd66DongguangXinhaoFarmingCo.,LtdEstablishedbyinvestmentNoeffectsDazhuXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsDongmingXinmuFarmingCo.,LtdEstablishedbyinvestmentProfitsof0.05YuanLeizhouXinhaoFarmingCo.,LtdEstablishedbyinvestmentNoeffectsQianweiXinhaoFarmingCo.,LtdEstablishedbyinvestmentNoeffectsChangleNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentNoeffectsTianjinXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof20YuanTianjinNewHopeLiuheFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsQuzhouXinhaoFarmingCo.,LtdEstablishedbyinvestmentNoeffectsPanzhouXinliuFarmingDevelopmentCo.,LtdEstablishedbyinvestmentNoeffectsLezhiXinmuFarmingCo.,LtdEstablishedbyinvestmentNoeffectsShangyiXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsPingyuanXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsPuchengXinliuTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsMianningXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsChongrenNewHopeLiuheFarmingCo.,LtdEstablishedbyinvestmentNoeffectsXiamenXiashangNewHopeAgriculturalDevelopmentCo.,LtdEstablishedbyinvestmentNoeffectsTangshanMuzhengFeedCo.,LtdEstablishedbyinvestmentLossesof642,659.86YuanPuchengNewHopeFarmingTechnologyCo.,LtdEstablishedbyinvestmentLossesof499,700.56YuanXiajinXinhaoFeedCo.,LtdEstablishedbyinvestmentLossesof7,500YuanHezeXinhaoFeedCo.,LtdEstablishedbyinvestmentNoeffectsBaiyinNewHopeLiuheFeedCo.,LtdEstablishedbyinvestmentNoeffectsZaozhuangNewHopeJinkeFeedCo.,LtdEstablishedbyinvestmentNoeffectsYangguAnputaiBiotechnologyCo.,LtdEstablishedbyinvestmentLossesof211,520.5YuanAnhuiJinxinFarmingFoodCo.,LtdEstablishedbyinvestmentLossesof1,121,226.32YuanGuanlingXinmuBreedingCo.,LtdEstablishedbyinvestmentLossesof1,216,580.88YuanQingdaoYifengdaLivestock&PoultryBreedingCo.,LtdEstablishedbyinvestmentLossesof359.68YuanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd67HeishanQingwangMeatDuckBreedingCo.LtdEstablishedbyinvestmentLossesof138.79YuanDezhouXinyingLivestock&PoultryBreedingCo.,LtdEstablishedbyinvestmentLossesof4,115YuanRizhaoQinyijiaEco-agricultureDevelopmentCo.,LtdEstablishedbyinvestmentLossesof482,076.08YuanShouguangQihangAnimalHusbandryCo.,LtdEstablishedbyinvestmentNoeffectsSichuanNewHopeAnimalNutritionTechnologyCo.,LtdEstablishedbyinvestmentLossesof16,550,208.62YuanGuigangGangnanDistrictXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsJi’anXinchiFarmingCo.,LtdEstablishedbyinvestmentNoeffectsCangzhouXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsQingdaoNewHopeLiuheTrainingBaseCo.,LtdEstablishedbyinvestmentNoeffectsShanxianXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsQingdaoXinmuZhiheTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsYiliangXinliuFarmingTechnologyCo.,LtdEstablishedbyinvestmentNoeffectsYangjiangNewHopeLiuheFeedCo.,LtdDeregisteredLossesof814.61YuanYishuiXinheLivestock&PoultryBreedingCo.,LtdDeregisteredLossesof251,500.12YuanXianningXinhaoFarmingCo.,LtdDeregisteredNoeffectsPingduLiuheHengliFeedCo.,LtdDeregisteredProfitsof1,500YuanShanghaiYijiuyiInternationalTradeCo.,LtdDeregisteredNoeffectsYishuiXinliuBreedingCo.,LtdDeregisteredNoeffectsZaoyangLiuheFeedCo.,LtdDeregisteredNoeffectsKaiyuanLiuheYahuiFeedCo.,LtdTransferProfitsof713,777.27YuanRemarksonmajormajority-ownedandminority-ownedcompaniesDuringthereportingperiod,thecompany’sinvestmentincomefromChinaMinshengBankingCorp.of1,188.1688millionYuan,accountingfor31.03%ofthecompany'snetprofits,istheinvestmentincomeaccountedforandrecognizedbythecompany'smajority-ownedsubsidiary,NewHopeInvestmentCo.,Ltd,whichholds1,828,327,362sharesinChinaMinshengBankingCorp.,withashareholdingratioof4.1759%,undertheequitymethod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd68VIII.Structuredentitiescontrolledbythecompany□Applicable√NotapplicableIX.Forecastbusinessperformanceinthefirstninemonthsof2020Remarksonwarningandcausesofpredictionthattheaccumulatednetprofitsfromthebeginningoftheyeartotheendofthenextreportingperiodmightbenegativeorsubstantiallychangecomparedwiththesameperiodofthepreviousyear□Applicable√NotapplicableX.RiskstothecompanyandcountermeasuresI.EpidemicandnaturaldisasterrisksTheanimalepidemicdiseaseisthemainriskfacedinthedevelopmentoflivestockindustry.Therearethreekindsofrisksarisingoutoftheoccurrenceofepidemicdisease.First,theoccurrenceofepidemicdiseaseislikelytoresultindeathoflivestock,andleadsdirectlytothereductioninyieldanddropinprices.Second,theoccurrenceandprevalenceofepidemicdiseaseonalargescaleeasilyinfluencetheconsumerpsychology,leadtoshrinkingmarketdemand,andalsoaffectthefeedproductionandoperation.Third,aftertheoutbreakofsomeinfectiousepidemicdiseasesendangeringthepublichealthandsafety,thegovernmentwilltakelockdownandothermeasurestocontainthespreadofepidemicdisease.Theseepidemiccontainmentmeasureswillseriouslyhinderthetransportationoffeed,animalhealthcareproductsandlivelivestock,andtheworkersreturningtowork,andhaveagreatimpactontheproductionandoperationofbreedingindustry.Inaddition,theoutbreakofinfectiousepidemicdiseaseswillforcemostcateringenterprisestostopdoingbusiness,someagriculturalproductmarketstoshutdown,andconsumerstoreduceshoppingactivitiesoutdoors,resultinginreducedmeatdemandandconsumption.Forexample,theASFbrokeoutin2018,causingatremendousimpactontheentireindustry.AstheASFischaracterizedbylonglatencyandhighmortalityafteronsetofthedisease,andtheeffectiveandreliablevaccinehasnotyetbeendevelopedsuccessfully,coupledwiththefactthatitwasalsotheconcentratedoutbreakonalargescaleinChinaforthefirsttime,boththelarge-scalebreedingenterprisesandsmallfarmerslackedeffectivecontainmentmeasuresattheonsetofepidemic,therebysufferinglossestovaryingdegrees.AccordingtothedatapublishedbytheNationalBureauofStatistics,thenumberoflivepigsmarketedinChinain2019fellby21.6%year-on-year,andthenumberoflivepigsonhandin2019fellby27.5%year-on-year.Furthermore,theCOVID-19outbreakatthebeginningof2020alsoposeddauntingchallengestoanti-riskcapabilitiesoflivestockbreedingindustrychainin.Theanti-epidemicmeasuressuchaslockdown,delayinreturntowork,suspensionoflivepoultrytrading,andshutdownofslaughterhousesledtounavailabilityoffeedtofarmsandlivestockfarmers,newbornlivestocknowheretosell,inabilitytoslaughterlivestockandpoultry,anddifficultiestoconductbreedingproductionactivitiesnormally.TheCOVID-19alsoforcedthenewpigfarmsofpigfarmingenterprisestobegenerallyoutofoperationandrenderedfarmerslessmotivatedtorestocklivepigs,ultimatelyhinderingtherecoveryprocessoflivepigproductioncapacityIntermsofthenaturaldisasterrisk,thefeedandslaughterarecloselyrelatedtoplantingandlivestockbreedingindustry,sothenaturaldisasterssuchastemperatureanomalies,drought,flood,earthquake,hail,andsnowdisasterwillalladverselyaffecttheindustryoperationanddevelopment.Thenaturaldisastersoccurringontheproductionbasesofthecompanyandsurroundingareasmaycausesubstantialdamagestoproductionfacilitiesorequipment,andthenaturaldisastersandextremeclimatemayalsodrivethepricesofsomefeedstuffandmeatsup.Forexample,seriousflooddisastersbrokeoutinmanyplacesofSouthChinainsummerof2016,adverselyaffectingtheplanting,breeding,farmproducelogistics,projectimplementationandmeatpricesalongtheindustrychaintovaryingdegrees;intermsofplanting,continuouscatastrophicfloodshittingsomeareaswillresultindecreasedoutputoffeedstuff,thusimpactingthefeedstuffprices,whileatthesametimedecreasingthequalityofrawmaterials;intermsofbreeding,Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd69floodmightcausepathogenicmicroorganismsburiedinthelandsurroundingbreedingfarmstobeexposedinairanddrinkingwater,andwillresultinspreadofpathogenicmicroorganismsandtriggerepidemicdiseases.Inaddition,severalprovinceshardesthitbythefloodsaremajoraquaticbreedingareasinChina,wheretheimpactoffloodsnotonlywoulddestroyfisheryproductionequipmentbutalsoishighlylikelytowashofffish-barringfacilitiesandbringawayfishfriesandadultfishes,causinglossestoeconomicincomeoffarmersandthusaffectingfeedstuffsalesofthecompany;intermsoflogistics,roadsarefloodedandroadbedsandroadsurfacesdestroyedwhereverfloodsweeps,forcingthefreightcostsofrawmaterials,feed,finishedproductsandbreedingpigstoriseandthetransportcapacitydown,causingpressuresonthesupplychainofthecompany;intermsofprojectimplementation,continuousrainstormswillalsocausepartofcapitalinvestmentconstructionprojectsofthecompanytosuffertemporaryshutdown,affectingtheconstructionschedule;intermsofmeatprices,floodwouldalsoimpactthemeatsupplyanddirectlycontributedtotherisingpricesofpigsinJuneandJuly,whilethegapinmeatpricesbetweenaffectedareasandunaffectedareaswasgrowing,thusleadingtoincreasedallocationandtransportoflivepigs,andresultinginspreadofepidemicandaffectingthesubsequentdelayinrecoveryofthepigcycle.Riskcountermeasures:Inthefaceofanimalepidemics,thelivestockfarmsplannedandconstructedbythecompany’sbreedingbasearenormalizedandstandardizedfarmsstaffedwithprofessionalbreedingtechnologistsandequippedwithstrictanti-epidemicmeasurestoeffectivelypreventandcontroltheoccurrenceofepidemicdiseases.Thecompanyhasalsosummarizedsomeexperienceandmeasuresrespondingtomajorepidemicdiseasesthroughyearsofexplorationandaccumulation,whichallowthecompanytoeliminatestheimpactofvariousepidemicsbyadjustingtheproductmixwhenappropriate,improvingtheproductquality,conductingdeepmarketdevelopmentactivelyandreducingthecosts.Since2014,thecompanyhasbeenguidingtechnicianstobetterservefarmersbyestablishinganimalhealthcarelaboratoriesinvariousareas,creatingthecloud-basedanimalhealthcaresystemandconductingthemonitoringandwarningofepidemicsanddiseasesinrealtime.Inparticular,inviewofASFoutbreakin2018,thecompanyformulatedall-roundandsystem-widepreventionandcontrolmeasures,coveringexistingself-runpigfarms,fatteningfarmsincooperationwithfarmerhouseholds,newpigfarmsofthecompany,pigfeedproductionunitsandinternalanimalhealthcarelaboratories,withaviewtoensuringproperpreventionandcontrolatthesourceofanimalnutrition.Atthesametime,thecompanyactivelytakespartinindustrycommunication,andexploredmoreeffectivepreventionandcontrolmethodstogetherwithitspeers.Currently,thebio-safetyandepidemicpreventionsystem,survivalrateoflivepigs,go-to-marketrateandotherindicatorsofthecompanyareamongthetopintheindustry.InresponsetotheCOVID-19,thecompanylostnotimetoestablishanepidemiccontainmentleadershiporsupervisionteam,formulatedandcarriedoutvariouscontainmentpoliciesandconductedemergencydispositioninacoordinatedmanner.Secondly,thecompanyactivelycommunicateswiththegovernmentatalllevels,coordinatesthetransportationofgoodssuchaslivestockproducts,andrawandauxiliarymaterialsoffeedandproducts,securesvehiclepasses,andimplementsthegreenchannelpolicyenactedbythegovernmentatalllevels.Thirdly,thecompanyensuressufficientprocurementfromfeedplantsandproductionsupplythroughregion-widecoordination,strengthensinternalsupportforpoultryindustryintegration,arrangesitsemployeestoreturntoworkrapidlyandorderly,contributestotheadequatesupplyofdailynecessitiesacrossthecountry,adjustsitsfoodindustrystrategyinrealtimeandexpandssalesthroughsupermarketchannelandonlinechannel.Fourthly,inlightofitsbusinesspractices,thecompanycompiledtheepidemiccontainmentmanual,publisheddocumentssuchastechnicalguidanceonemployeepreventionandcontrolandquarantineandguidanceonengineeringcontrolamidepidemics,makestheepidemicpreventionarrangementsinatargetedmannerandstrengthensemployeesafetyandprotection.Inresponsetonaturaldisasters,althoughunabletoruleoutthepossibilitythatseriousnaturaldisasterswilloccurinareaswhereitssubsidiariesoperate,thecompany’sextensivebusinessportfolioandpresencebothathomeandabroadhelpensurethatthecompany’sbusinessasawholewillnotbemateriallyaffectedwhennaturaldisastersoccurinparticularregions.EspeciallyfortherainstormsandfloodsinsouthChina,whichhaveoccurredfrequentlyintheseyears,thecompanyhasaccumulatedalargewealthofexperience,establishedprovencontingencyplansandmaintainssufficientfloodpreventionsuppliesinstockatalltimes,whichallowthecompanytoflexiblyguidefarmersthroughproductionplanadjustmentswhenthefloodseasonbeginsinpreparationfordisasterFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd70relieftogether.Atthesametime,thecompanycanalsotaketheadvantageofitsnationwidepresencetoallocatefunds,rawmaterials,equipment,andstafftimelyandeffectivelytoresumeproductionassoonaspossibleandreducethelossescausedbynaturaldisasters.II.RiskoffeedstuffpricefluctuationsThecostsofmainrawmaterialsforfeedproductionaccountforover90%ofthetotalcostoffeedproduction.Inthepast,theproportionoffeedbusinessinthecompany’srevenuewaslarge,butasthefeedindustrygenerallyadoptsthecost-pluspricingmethod,thefluctuationsinpricesoffeedstuffscanbepartlytransmittedtothedownstreambreedingoperations,soastorelievethepressurefromtherisingpricesoffeedstuffs.However,withagrowingpercentageoflivestockbreedingbusinessinthecompany’srevenue,therisingpricesoffeedstuffswillhaveagrowingimpactonthecompanyasawhole.Since2018,thecostoffeedstuffshasbeenturbulentandrising,andthedomesticspotmarketofsoybeanmealjumpedbyphaseswithintensificationofmarketfluctuations.Thedomesticcornpricerosebeforefalling,andthepricesofadditive(aminoacid)alsowentdowninazigzagmanner.Theviolentfluctuationsinpriceoffeedstuffscontinuedinto2019,asthedomesticcornpricesfellbeforerisingandthenfellagain,whilethespotmarketpricesofsoybeanmealcontinueddropping.Atthebeginningof2020,theCOVID-19outbreakaffectedtheworkresumptionoffeedadditivemanufacturersanddrovethepricesofsomefeedadditivesupremarkablyinshortterm,whilesoybeanmealpricesalsoalsoroseinshorttermduetothereducedsoybeanexportfollowingtheclosureofportsinresponsetotheCOVID-19outbreakinSouthAmerica.CoupledwiththecontinuoustensionbetweenChinaandUS,whichbringsgreatuncertaintiestothebulkproducetradebetweenthetwocountriesandinternationaltradeoffeedstuffsinthefuture,theriskofpricefluctuationswillexistinthelongterm.Moreover,againstthebackgroundoflongtimeexistenceofASFinChina,thefeedenterpriseswillreducesomehigh-riskfeedstuffsforthesafetyofanimalnutrition,suchasusageofcorn,pigblood,andpigbonemeal,soastomakethedemandforrawmaterialsconcentrateonothertypesofrawmaterials,whichwillalsoleadtoriseinpricesofsuchalternativerawmaterials.Riskcountermeasures:Thecompanyisthelargestdomesticfeedenterprisewiththescaleadvantagesandaconsiderablesayintherawmaterialpurchasing.Thecompanystartedreorganizingandoptimizingitsrawmaterialprocurementsystemin2017,combedthroughitssuppliersystemactively,establishedstrategicpartnershipswithmanydomesticandoverseasbest-runrawmaterialsuppliers,conductedthesupplychainfinancingofvariousformsactively,andoptimizeditspurchasingcostandrelatedfinancialexpenses.In2019,thecompanycontinuedtodrivetransformationsintermsofcentralpurchasingofrawmaterials,strategicpurchasingchanneloptimizationofpartners,acquisitionofcornproducedinnortheastandpurchasingmodelupgrading,realizingagreaterpurchasingvaluedespitethechallenges.TheCOVID-19crisisin2020hascausedphase-wiseimpactonthepricesoffeedstuffandfeedadditives,butastheCOVID-19hasbeencontainedgraduallyathomeinthesecondquarterandcompaniesatupstreamanddownstreamofthefeedindustryresumedproduction,theundersupplyofvastmajorityoffeedstuffandadditiveshasbeeneasedremarkablyandthepriceshavebeenfallingasawhole,withthepriceriskgraduallyreleased.Meanwhile,inthefirsthalfof2020,thecompany’sfeedsupplychainmanagementdepartmentmadegreateruseofhedginginstrumentstocontroltheriskofpricefluctuationsofrawmaterials.DuringresponsetotheCOVID-19,thecompany’sexperienceofcloseinteractionamongtechnology,procurement,productionandsalehasbeensummarizedandappliedinday-to-dayoperationmanagementofthefeedbusiness.III.RiskofpricefluctuationsoflivestockandpoultryThefinishedproductsoflivestockandpoultrybreedingofthecompanymainlyincludebabychick,babyduck,white-featheredchicken,white-featheredduck,breedingpig,piglet,andhog.Especiallysince2015,thepigfarmingbusinessofthecompanyhasbeengrowingrapidly,with3.55millionlivepigssoldin2019andmorethan300millionself-raisedandoutsourcedcommercialgenerationchickenandduckssold,whichallowedthelivestockandpoultrybreedingtocontributegreatertotheentirerevenueandprofitsofthecompany.Alongwiththeexplosivegrowthofbreedingvolumeofthecompanyinthefuture,thepricesoflivestockandpoultrywillaffectthelevelsofrevenueandprofitsofthecompanyevenmoreremarkably.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd71In2019,influencedbyASF,thelivepigpricescontinuedtoriseafterbouncingback,hittinghistorichighsuccessivelyasthepricesskyrocketedinthesecondhalfoftheyear.Intermsofwhite-featheredpoultry,thepricesofbreedingpoultry,non-slaughteredchickenandducksandpoultrymeatremainedhighasawholein2019duetotheinsufficientintroductionofvarieties,coupledwiththedramaticallyincreasedconsumerdemandforporksubstitution.Inthefirsthalfof2020,thepricesoflivepigsandwhite-featheredpoultrybifurcated.Intermsoflivepigs,inthefirsthalfof2020,whentheundersupplyoflivepigsremained,thebreedingstockrecoveredgraduallyandthepigpricesbouncedbackandclimbedgraduallytotheendofJuneafterarapidfallinMayduetotheweakenedconsumerdemand;itispredictedthatthesupplyoflivepigswillremaintightinthesecondhalfof2020andthepigpriceswillstillstronglysupportedthroughouttheyearalongwiththeseasonalrecoveryoftheconsumerdemand.Intermsofwhite-featheredpoultry,beitnewly-hatchedpoultry,non-slaughteredchickenandducksorpoultrymeat,theirmarketpricesremainedlowasawholeinthefirsthalfof2019duetoseriousoversupply,forexample,theaveragepricesofwhite-featheredbabybroilerchickenfellbymorethan50%year-on-yearinthefirsthalfoftheyearandthepricesofpoultrymeatontheconsumersidewerealsolowastheconsumerdemandofmajorchannelssuchaswholesalemarkets,schools,plantsandmineswasapparentlyinhibitedduetotheimpactofCOVID-19,thereforecompaniesacrosstheentireindustrychainsufferedlossesinthefirsthalfoftheyear;itispredictedthatthesituationfwhite-featheredpoultryindustrywillbecomefavorableinthesecondhalfoftheyearalongwithgradualrecoveryofconsumerdemand,coupledwiththeseasonalgrowthintraditionalconsumerdemand,butthecapacitiesoftheentireindustryremainhigh,meaningthattheroomforrecoveryisestimatedtobelimitedevenifthemarketdemandbouncesback.Forthisreason,thepricesacrossthewhite-featheredpoultryindustrychainmightstillremainsubstantiallylow.Riskcountermeasures:apartfromtheimpactofsporadicepidemics,thefluctuationsinpricesoflivestockandpoultrymainlydependontheperiodicincreaseanddecreaseinbreedingandsupplyquantities.Asaresult,theprocessoflivestockandpoultrypricesgoingdownitselfisaprocessofthesurvivalofthefittestintheindustry.Againstthisbackdrop,thecompanystillcangeneratemorerevenueorsufferlesslossesthanitsrivalsintheprocessofpricedeclineaslongasitincreasesitsbreedingefficiencyandmakesitsbreedingcostslowerthanitsrivals.Whensomeparticipantsexit,thetotalsupplydeclinesandthericesriseagain,thecompanymightgainagreatermarketshareandahigherreturnoninvestmentthanbefore.Inrecentyears,thecompanyhasbeencommittedtocontinuouslyincreasingitsbreedingefficiency,andenjoyingindustryleadershipintermsofproductionofhealthyyoungbreedingpoultryandPSYandfullcostofpigbreeding,whichwillensurethatthecompanywillremainhighlycompetitiveduringthepricefalloflivestockandpoultry.Ontheotherhand,unlikemostofagriculturalandanimalhusbandryenterprises,thecompanyalsohasslaughteringandprocessingbusinessesdownstreamofbreedingindustry,whichhappenstohedgeagainstthebreedingbusinessofthecompany.Thepricedeclineoflivestockandpoultrymeansthatthecostofrawmeatintheslaughteringandprocessingbusinessesfallstooanditsprofitmarginwillbeincreased,whichcanalsoeasetheimpactofpricefalloflivestockandpoultryonthecompanyasawholemoderately.IV.ImpactofenvironmentalprotectionpoliciesIn2014,ChinastartedimplementingtheRegulationsonPollutionPreventionforLarge-scaleBreedingofLivestockandPoultry,asthegovernmentwasstronglydeterminedtokeeplivestockfarmsinlineandnewregulationswereenactedacrossthecountrytodemolishlivestockfarms,banorrestrictlivestockfarmingactivities.Atthelevelofcentralgovernment,thenew“EnvironmentalProtectionLaw”wasenactedonJanuary1,2015;attheendof2016,theStateCouncilissuedthe“13thFive-Year”EcologicalEnvironmentProtectionProgram”,morespecificallyrequiring“localgovernmentstocloseorrelocatelivestockfarms(communities)andbreedinghouseholdswithinthebannedareasaccordingtolawbytheendof2017”.In2018,thefirstgroupofcentralenvironmentalprotectioninspectorsconductedthe“follow-upreexaminations”,astheeffortstoinvestigatepollutioncausedbylivestockfarmswereintensifiedacrossthecountry,orderingsomebreedinghouseholdstoshutdownforenvironmentalremediationorcloseonceforallduetotheirlivestockfarmingfacilitiesfailingtomeettheenvironmentalstandardsordischargingwastewaterbeyondthesetstandards.Thesepressuresfromtheenvironmentalprotectionpolicieswillforcesomelivestockandpoultryfarmsfailingtomeettheenvironmentalstandardstoexitthemarket,andleadtoreducedbreedingquantities,whichwillproduceacertainimpactonthegrowthoffeedbusinessofthecompanyanditsacquisitionoflivepigsandpoultryforslaughteringbusiness.SomeFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd72branchesandsubsidiariesofthecompanyfailtomeettheenvironmentalprotectionrequirementseconomicallythroughhardwaretransformation,ornolongerhavethemarketbasisduetobeinglocatedinthebannedareas,whichwillleadtoshutdownofsomebranchesandsubsidiaries.Inthelongrun,however,theexitoftheseoutdatedcapacitiesforincompliancewithenvironmentalstandardswillallowthebest-runproducersthatremainintheindustrytoacquirehigherprofitability,whichisstillofapositivesignificancetotheentireindustry.Riskcountermeasures:inlightofthechangesofthebreedingmarket,thecompanymakeseveryefforttokeepitsstockundercontrol,establishespoultryandpigbreedingservicecompaniesbychangingitsfeedmarketingmodel,makesfulluseofitsindustrializedsupportingandintegratedservices,andstrengthensitscooperationwithmediumandlarge-sizedfarmsandbreedinghouseholdsthatmeettheenvironmentalstandards.Whileexploringanewwayofbreeding,thecompanyregardsecology,environmentalprotection,efficiencyandsafetyasprimaryconsiderationsinitsprojectdesign,helpsbreedinghouseholdsremodelandbuildshedsandstallsthatmeetthehigherenvironmentalstandards,increasetheprofitabilityofbreedingbusinessandactivelydrivethedomesticlivestockandpoultryfarmingindustrytogrowhealthily.Ontheotherhand,thecompanyactivelygrowsitsinventoriesbycultivatingnewlivestockandpoultryfarmingbasesinenvironmentallysuitableareasthroughconstruction,acquisition,jointventureandcooperationusingitsexistingbusinessportfolioacrossthecountry,thusensuringthestabilityofitsbreedingresources.V.RiskoffoodsafetyincidentsFoodsafetyconcernsthephysicalhealthandlifesafetyofthegeneralpublic,andisanimportantfactoraffectingbusinessreputationandoperation.Asforfoodcompanies,theproductqualityandfoodsafetyareevenamatteroflifeanddeath.Ifafoodcompanyisnegligentinanypartofthebusinessprocess,resultinginfoodsafetyproblemsoraccidents,itmightfaceclaims,actionsorrelatedpunishmentsinawaythatevenaffectsitsbrandandreputation,therebymateriallyadverselyaffectingitsbusiness,financialcondition,stockpricesorbusinessperformance.Therevised“FoodSafetyLaw”wasofficiallyenactedasofOctober1,2015,alsoknownasthe“moststringentlawofitskindinthehistory”,meaningChinahasbroughtitsfocusonfoodsafetytoanunprecedentedlevel.TheoutbreakofASFin2018raisedevenmoredemandingrequirementsforfoodsafetycontrol.TheASFitselfisnotazoonoticdiseaseandtheporkwithASFvirusisnotharmfulatalltohumansafterconventionalheatingandcooking.However,thereisnotyetfullyeffectivecontainmentmeasureagainstASFatpresent,andtheporkanditsproductsareoneofthemaincarriersofthevirus,somorecostsarerequiredtopreventandcontrolASFduringtheprocessoflivepigrecoveryandslaughter,porktransportationandvending.Riskcountermeasures:thecompanyhasalwaysbeenhighlyconcernedaboutfoodsafetymanagementbymakingfoodsafetyitstoppriorityandimplementingfoodsafetyineverythingitdoes.InFebruary2015,thecompanyestablisheditssafetyandenvironmentalprotectiondepartmenttoensuresafety,healthandenvironmentalprotectionofitsproductsanddrivethelong-term,sustainabledevelopmentoftheorganization.Thecompanyalsoupgradedtheequipmentinits“three-level”testingsystem,added5regionaltestingcenters,expandedthelaboratoriesofitsbranchesandsubsidiariesintermsofhumanandmaterialresources,guaranteedthescientificnatureandreasonablenessofallocationandinputoffunds,resourcesandpersonnelacrossthefoodindustrychainandinitiallyestablishedanadvanced,scientific,efficient,safeandsoundenvironmentalmanagementsystem,whichupgradedthefoodsafetyorganizationmanagement,high-endfacilities,processmanagement,andkeyprocesscontrol.Sofar,thecompanyhascreatedafoodsafetycontrolchainfromfeed,livestockandpoultrybreedingallthewaytodiningtable.In2014,the“Beiyouzi”brandedduckmeatproducedbythecompanywasthefirstinChinatoachieveend-to-endtraceability;in2015,ChengduXiwangFoodCo.,Ltd,asubsidiaryofthecompany,becameoneofthesecondgroupofpilotcompaniesforimplementationofthenationalstandard“foodcoldchainlogisticstraceabilitymanagementrequirements”.Inaddition,thecompanybroughtitssafetyandenvironmentalprotectionsystemmoreinlinewithinternationalbestpricesbypassingthefoodtechnicalstandardcertificationbytheBritishRetailCouncil(BRC)in2016.AtthefirstplenarysessionoftheGlobalFoodSafetyInitiative(GFSI)inChinain2016,thecompanywaselectedtheVicePresidentoftheChinaCouncil,becomingthefirstChineseprivateenterprisetobeselectedasamemberoftheglobalboardofdirectorsofGFSI.InOctober2019,the8thGFSIFocusDayChinaorganizedbythecompanywasFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd73heldinChengdu.ItisthefirsttimeaprivateenterpriseorganizedthiseventsinceGFSIbeganholdingtheFocusDayChinain2012,andalsothefirsttimetheGFSIFocusDayChinawasheldinaprovinceotherthanBeijingandShanghai.Thecompanywasselectedas100MostTrustedModelOrganizationsand20BestCasesofManagementInnovationattheChinaFoodSafetyAnnualConferencein2016and2017,signifyingthatthefoodsafetyeffortsofthecompanyarerecognizedathomeandabroad.Atpresent,allfoodenterprisesundertheflagofthecompanyhavepassedChina-HACCPcertification,andmorethan60foodcompaniesarefinishingtheBRCandGlobal-GAPcertificationsinsuccession.Inaddition,thecompanysystematicallyexplorestheantimicrobial-reducingandantimicrobial-freepossibilitiesincooperationwithmultiplepartiesusingtheGFSIplatformresources,andactivelydrivesthepopularizationofantimicrobial-reducingandantimicrobial-freesuccessfulcases.VI.RiskofexchangeratefluctuationsCurrently,theglobalpurchasingofrawmaterialsforfeedproductionisgoingdeeper,andthefeedenterpriseshavebeenincreasinglyaffectedbytheexchangerateintermsoffeedstuffpurchasingcenteredonforeignsupplysuchascorn,soybean,wheypowder,fishmeal,andDDGS.Atthesametime,thecompanyhaslargerforeignoperationsthanitsChinesepeers,andintheforeigninvestmentandoverseasproductionandoperation,thecross-bordercapitaltransactionandsettlementamountsinvolvedaregrowing,thusmakingthecompanymorevulnerabletoexchangeratefluctuations.Since2019,thebumpyChina-USrelationscausedtheRMB/USDexchangeratetofluctuatefrequently,withtheRMB/USDexchangeratefallingbyabout1.8%incumulativetermsthroughouttheyear.Inthefirsthalfof2020,theChina-USrelationscontinuedworsening,butastheCOVID-19crisishasbeencontainedathomeandtheeconomicactivitiesacrossChinagraduallyrecovered,theChineseeconomyshowedastrongresilienceasawhole,registeringamerely1.5%accumulateddropinRMB/USDexchangerate.Inthesecondhalfof2020,however,astheglobalCOVID-19crisiscontinuedspreadingataquickenedpace,theworldeconomicrecessionhasbecomeasurethingandtheexternalriskscausedbydeterioratingChina-USrelationsfurtheraggravated,makingithighlylikelyforfinancialmarketstofaceviolentturbulences,whichwillproduceaconsiderableimpactontheforeignexchangemanagementofthecompany.Besides,inseveralMiddleEastcountrieswherethecompanyoperates,theexchangerateoflocalcurrenciesagainstUSDdepreciatedremarkablyduetotheCOVID-19,politicalturbulenceandforeignexchangepolicyadjustments,whichalsoproducedanadverseimpactonthecompany.Riskcountermeasures:Inresponsetothegrowingneedsforoverseasrawmaterialpurchasingandinvestmentandoperation,thecompanystartedbuildingitsSingaporeanbranchintoanoverseascommercialandtradingcenterandinvestmentandfinancingcenterin2016,activelyconductedinternationalcentralizedpurchasingofrawmaterials,foreigndirectfinancing,supplychainfinance,foreignexchangeriskmanagementandrawmaterialspurchasingriskmanagementonitsSingaporeanplatform,inordertoreducetheimpactofexchangeratefluctuationsonitscashflowinoverseasoperations.Meanwhile,initsoverseasoperations,thecompanyfurtherstrengtheneditscloseconnectionandcommunicationwithoverseasfinancialinstitutions,overseasagenciesoftheChinesegovernmentandhostgovernmentstoidentifythetrendsoflocalcurrencies’exchangeratesinhostcountriesintimeandeasetheadverseimpactofexchangeratefluctuationsbymeansofdirectinvestmentinlocalcurrenciesabroad.Currently,thecompanyisactivelystudying,demonstratingandpreparingrelatedcontingencyplansagainstpossiblescenariosofdrasticallychangedexternalenvironmentsandviolentexchangeratefluctuations,suchthatthecompanywilltakeimmediate,relevantmeasurestoendeavortominimizethelossesoncerelatedcircumstancesarise.VII.RiskofhumanresourcesTheriskofhumanresourcestothecompanymainlyinvolvesthefollowingfouraspects.First,thepigbreedingscaleofthecompanywillrealizetheleapfrogdevelopment.Asatthetimeofdisclosureofthissemiannualreport,thecompany’spigfarmingteamhasexceeded30000persons,butinordertomatchwiththehigherslaughteringtargetsinthefuture,thecompanyisstillunderstaffedinpigindustry,andthecompanywillcontinuetorecruitandexpanditspigfarmingpersonnelatarateofnolessthan10,000-20,000personseachyear.Therefore,therearetremendouspressureandchallengesintermsofrapidlyrecruitingalargenumberofpigraisers,andhowtorapidlycultivateandretainalargenumberofqualifiedpigraisers.IfthepersonnelrecruitmentandFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd74trainingprovesinadequate,potentialriskswillariseforthesubsequentpigfarmmanagementandoperation;second,asthecompanytransformsfromatraditionalagriculturalandanimalhusbandryenterprisetoaagricultural,animalhusbandryandfoodintegratedenterprise,thecompanywillfacetheriskofinsufficientreserveofhigh-caliberoperationandmanagementpersonnelinnewbusinessdomainsandofpersonnelinfoodretailterminals,Internetplatformandotheremergingfields;third,alongwiththerisinghumancost,employeecompensationhasbecomeanimportantfactorincostincreaseofthecompany;fourth,asaleadingenterpriseinChina’sagriculturalandanimalhusbandryindustry,thecompanyhascultivatedalargenumberofoutstandingemployeesinitsmultiyearhistory,butthecompetitionforhumanresourcesisintensifyingduetotheincreasingcompetitionintheindustryandentryofnewplayersofdifferentbackgroundsintotheindustryoverthepastyears,meaningthebraindrainwillcauselossestothecompanyandsubsequentlyaffectthesustainablecompetitivenessofthecompany.Riskcountermeasures:Inviewofaforesaidrisks,thecompanyhaslookedattalentcultivationandorganizationalactivationasalong-termstrategictaskofthecompany.Intermsofrecruitingtalentedpigfarmers,thecompanyexpandeditsrecruitmentchannelbeyondcollegegraduatesmajoredinagricultureandanimalhusbandrytorecruitnon-specializedcollegegraduatesandveterans.Intermsofpigfarmertraining,thecompanybrokedownitsdailyproductionprocessesaccordingtostandardsandinternalizedthemusingITmeans.Itoffersspecializedcoursesofdifferentlevelsforgeneralmanager,farmmanagersallthewaydowntothenewlyrecruitedfrontlineworkersthroughin-housepigfarminguniversitiesandpigindustryresearchinstitutesthatofferhigh-frequencylearning,trainingandteachingpossibilities.Moreover,throughthemodernmentoringsysteminsidepigfarmsandone-to-onementoringandintensificationbysophisticatedemployees,thetimetocultivatenewemployeeshasbeengreatlyshortened.Toretaintheemployeesofitspigfarms,thecompany,orientedtowards“valueastheguidingprinciple,multi-aspectcoordinationandcombinationoflongtermandshortterm”,furtherperfecteditspigindustrytalentmotivationsystem,wherebypersonnelatalllevelsinpigindustrywillreceiveindustry-leadingeconomicreturnbasedontheirvalueoutput.Inaddition,inordertoreducethepressureontalentrecruitmentandcultivationandbetterleadthedevelopmentofChina’slivepigindustry,thecompanyintensifieditseffortstocarryoutprojectssuchaspigraisinginmultistorybuildings,intelligentpigfarmsandthingsofInternet,whichwillsignificantlyincreaseitsefficiencyofpersonnelutilization.Thecompanyalsointensifieditseffortstorecruittalentedpeopleinstrategic,newbusinesses,whileactivelyconductingindustrytrainingandlearningtoenrichtheknowledgestructureandcapabilitystructureofitsexistingpersonnel.Duringitsstrategictransformation,thecompanysetupdevelopmentplatformsformanagers,motivateditsemployeestopursuebusinessventuresandcreatedadiversifiedgrowthplatformforitsemployeesbyincentivizingtheorganization.Moreover,thecompanyrealizedthecontinuousincreaseinpercapitaefficiencybyefficiencyimprovement,leanmanagement,optimizationofindustrychaindesignandorganizationflattening;createdtheprofessionalmanagerdevelopmentchannelwithsurvivalofthefittestbyconstructingthecompetition,selectionandeliminationmechanisms;andcreatesthegrowthcommunityofemployeesandthecompanybyconstructingreasonableevaluationandincentivemechanismsandvaluesharingmechanism.InJuly2019,thecompanyimplementeditsrestrictedstockandstockoptionincentiveplanforthefirsttimetomotivateitskeytechnologistsandpigfarmingteamsmore,thusensuringtherapidimplementationofitsscienceandtechnologystrategyandpigfarmingstrategy.Thecompanyfurtherestablishedandperfecteditslong-termincentivemechanism,gavefullplaytotheinitiativeofseniormanagersandpartofkeypersonnel,andeffectivelycombinedshareholderinterests,corporatebenefitsandpersonalinterestsofitscoreteam,whichwillpromotethelong-termdevelopmentofthecompany.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd75Section5ImportantmattersI.Detailsofannualgeneralmeetingandextraordinarygeneralmeetingsheldwithinthereportingperiod1.GeneralmeetingsduringthisreportingperiodMeetingcategoryMeetingtypeRatioofparticipatinginvestorsDateheldDatedisclosedDisclosureindex2019annualgeneralmeetingAnnualgeneralmeeting70.27%April28,2020April29,2020Asdetailedinthe“AnnouncementofResolutionsof2019AnnualGeneralMeeting”(2020-61)publishedbythecompanyonChinaSecuritiesJournal,SecuritiesDailyandonApril29,2020.2.Extraordinarygeneralmeetingsrequestedbypreferredshareholderswhosevotingpowerwasresumed□Applicable√NotapplicableII.Profitdistributionandtransferofcapitalreservetosharecapitalduringthereportingperiod□Applicable√NotapplicableThecompanyplansnottodistributecashdividendsorallotbonussharesortransferitscapitalreservetosharecapitalinthefirsthalfoftheyear.III.Commitmentsperformedwithinthereportingperiodandnotyetperformedbeyondthetimelimitasattheendofthereportingperiodbytheactualcontroller,shareholders,affiliates,acquirersandcorporateandothercommitment-relatedpartiesofthecompany√Applicable□NotapplicableCauseofcommitmentCommittingpartyTypeofcommitmentContentofcommitmentTimeofcommitmentPeriodofcommitmentPerformanceShareholdingreformcommitmentsNewHopeGroupCo.,LtdCommitmentstoreducedshareholdingNewHopeGroupCo.,Ltdwillnotlistfortradingortransferitsshareswithin36monthsofacquisitionofthecirculationJanuary19,2006NoneHonoringthecommitmFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd76right.Upontheexpirationoftheaforesaidlockupperiod,theoriginalnon-tradablesharesmaybelistedforsaleatapriceofnolessthan6.8Yuanonlywhenthecompany’sstockclosingpriceexceeds6.8Yuanforanyconsecutive5tradingdays.Thepricesoftheaforesaidsharesofferedforsalewillbeadjustedaccordinglywhenthecompanyimplementsprofitdistribution,transferofcapitalreservetosharecapital,additionalissueofnewshares,sharesallotment,conversionofconvertiblebondsintosharesorshareholdingreductionofthesameratioofallshareholders.entsCommitmentsmadeinacquisitionreportsorequitychangereportsNoneNoneNoneNoneNoneNoneCommitmentsmadeatthetimeofassetreorganizationNewHopeGroupCo.,Ltd;SouthHopeIndustrialCo.Ltd;LiuYonghaoCommitmentsregardinghorizontalcompetition,related-partytransactionsandoccupationoffundsInordertopreservethelegitimaterightsandinterestsofthecompanyaftersignificantassetreorganizations,theaforesaidshareholdersundertakethatthecovenanterscurrentlyarenotdirectlyorindirectlyengagedinanybusinessactivitiesthatconstitutehorizontalcompetitionwiththebusinessconductedbythelistedcompany;whilethecovenantersactuallycontrolthelistedcompany,thecovenantersandothercompanies(exceptforlistedcompanies)controlledbythemwillnotdirectlyorindirectlyengageinanybusinessactivitiesthatconstitutehorizontalcompetitionwiththebusinessconductedbythelistedcompany,norengageinanyactivitiesthatmightdamagetheinterestsofthelistedcompany..December31,2010NoneHonoringthecommitmentsNewHopeGroupCo.,Ltd;SouthHopeIndustrialCo.Ltd;Commitmentsregardinghorizontalcompetition,related-partytransactionsandoccupationInordertoreduceandregulatethepossiblerelated-partytransactionsofthecompanyaftersignificantassetreorganizations,theaforesaidshareholdersundertakethattheywillavoidorreducerelated-partytransactionswiththelistedcompanyanditssubsidiarieswheneverpossible;executestandard-compliantrelated-partytransactionDecember31,2010NoneHonoringthecommitmentsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd77offundsagreementswiththelistedcompanywithrespecttorelated-partytransactionsthatcannotbeavoidedorhavereasontoexistandperformapprovalprocedureaccordingtotheapplicablelaws,regulations,rulesandothernormativedocumentsandthearticlesofassociation,wherebythepricesofrelated-partytransactionswillbedeterminedaccordingtothepriceswhenthesameorsimilartransactionsareconductedwithindependentthirdpartieswithoutrelated-partyrelationshipinordertoensurepricesofrelated-partytransactionsarefair;undertaketoperformtheinformationdisclosureobligationsforrelated-partytransactionsaccordingtoapplicablelaws,regulationsandarticlesofassociation;undertakenottoillegallytransferfundsorprofitsofthelistedcompanythroughrelated-partytransactionsorjeopardizetheinterestsofthelistedcompanyanditsnon-relatedshareholdersthroughrelated-partytransactions.NewHopeGroupCo.,Ltd;SouthHopeIndustrialCo.Ltd;OthercommitmentsAftercompletionofsignificantassetorganizationofthecompany,SouthHopewillbecomeashareholderofthecompany,thesharescontrolledbyNewHopeGroupinthecompanywillfurtherincreaseandNewHopeGroupandSouthHopeundertakeasfollowswithrespecttoensuringtheindependenceofthecompany:1.Ensuretheindependenceofassetsofthelistedcompany;2.Ensurethefinancialindependenceofthelistedcompany;3.Ensuretheorganizationalindependenceofthelistedcompany;4.Ensurethebusinessindependenceofthelistedcompany;5.Ensuretherelativeindependenceofemployeesofthelistedcompany.December31,2010NoneHonoringthecommitmentsYanJunfangCommitmentsregardingrestrictedsalefsharesPriortoexpirationof36monthsofthedatewhenissuesissuedbyNewHopethatIhaveacquiredthroughsaleof12.83%sharesheldbymeinBesunAgricultural(i.e.,8,755,151shares,calculatedattheJanuary24,20172/25/2020HonoringthecommitmentsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd78issuepriceof8.38Yuanpershare,providedthattheaforesaidnumberofshareswillalsobeaccordinglyadjustedifsuchissuepriceisadjustedduetosuchex-dividendandex-rightchangechangesofthecompanyasdistributionofdividends,allotmentofbonussharesandconversionintosharecapital),Iwillnottransferorhaveothersmanageorrequirethelistedcompanytoacquiresuchportionofstockheldbymethatthelistedcompanydirectlyprivatelyissuedtomethistime.KangShunhu;LeiNingli;YanSuifang;YanglingFengyiEquityInvestmentManagementCenter(LP);YanglingXiangyuanEquityInvestmentManagementCenter(LP)CommitmentsregardingrestrictedsalefsharesPriortotheexpirationof36monthsofthedateofthislistingofadditionalshares,I/mycompanywillnottransferorhaveothersmanageorrequireNewHopetoacquiresuchportionofstockheldbymethatNewHopedirectlyprivatelyissuedtome/mycompanythistime.January24,20172/25/2020HonoringthecommitmentsGaoZhanhe;YanJunfang;YanSuifang;YanglingFengyiEquityInvestmentManagementCenter(LP);YanglingXiangyuanEquityInvestmentManagementCenter(LP)Commitmentsregardinghorizontalcompetition,related-partytransactionsandoccupationoffundsDuringmyholdingofshares/equitiesinthelistedcompanyandYanglingBesun:1.I,myclosefamilymembers(includingspouse,parents,parentsandsiblingsofspouseandtheirspouses,childrenagedabove18andtheirspouses,siblingsofspousesandparentsofspousesofchildren,thesamebelow)andcompaniescontrolledbymeandmyclosefamilymembers(indirectlydirectlyandindirectly)havenotandwillnotdirectlyorindirectlyengageinanyactivitiesthatconstitutehorizontalcompetitionwiththeswinebreeding,pigfarming,slaughtering,processingandfeedproductionbusinesses(hereinafter,“mainbusinessofthelistedcompany”)thatthelistedcompanyanditsDecember28,2016NoneHonoringthecommitmentsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd79majority-ownedsubsidiariesmainlyconductinanymanner.2.Withrespecttowholly-ownedcompaniesanddirectlyorindirectlymajority-ownedcompaniescontrolledbymeandmyclosefamilymembers,Iandmyclosefamilymemberswillcausesuchcompaniestoperformthesameobligationsinthisletterofcommitmentsasminethroughappointedagenciesandpersonnel(includingbutnotlimitedtodirectorsandmanagers)andexerciseofthemajority-ownedstatusandundertakenottoincurhorizontalcompetitionwiththemainbusinessofthelistedcompany.3.IfI,anyofmyclosefamilymembersorcompaniesoverwhichIoranyofmyclosefamilymembershascontrolhasanybusinessopportunitiestoengageorparticipateinanyactivitiesthatmightcompetewiththemainbusinessofthelistedcompany,thelistedcompanywillbeimmediatelynotifiedoftheaforesaidbusinessopportunitiesandIwillmaketheutmostefforttogivesuchbusinessopportunitiestothelistedcompanyduringthereasonableperiodspecifiedinthenoticeifthelistedcompanymakesapositiveresponseexpressingitswillingnesstoutilizesuchbusinessopportunities.4.Iacknowledgethateachandeverycommitmentindicatedinthisletterofcommitmentsisindependentlyenforceablecommitmentandanycommitmentthatisheldtobeinvalidorterminatedwillnotaffectthevalidityofallremainingcommitments;incaseofviolationofanyoftheaforesaidcommitments,Iwillbearthedirectorindirecteconomiclossesanddamagessocausedtothelistedcompanyandthecostsandexpensesinconnectiontherewith.GaoZhanhe;YanJunfang;CommitmentsregardingDuringtheperiodinwhichIholdsshares/equitiesinthelistedcompanyandDecemberNoneHonoringtheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd80YanSuifang;YanglingFengyiEquityInvestmentManagementCenter(LP);YanglingXiangyuanEquityInvestmentManagementCenter(LP)horizontalcompetition,related-partytransactionsandoccupationoffundsYanglingBesunandIormyaffiliatesaredefinedasthelistedcompanyanditsmajority-ownedsubsidiariesasspecifiedbythesecuritiesregulatoryrules:1.Withrespecttotherelated-partytransactionsalreadyexistingandunavoidableinthefuturebetweenIandcompaniescontrolledbyme(ifany)andthelistedcompanyanditsmajority-ownedsubsidiaries,Iundertaketofollowthearm’slengthprincipleofmarkettransaction,i.e.,normalcommercialterms,tomaketransactionswiththelistedcompanyanditsmajority-ownedsubsidiaries.IfIfailedtomakeanytransactionswiththelistedcompanyanditsmajority-ownedsubsidiariesaccordingtothearm’slengthprincipleofmarkettransaction,causinglossesorhavingcausedlossestothelistedcompanyanditsmajority-ownedsubsidiaries,Iwillbeliableforindemnification.2.Iwillperformingoodfaiththeobligationsasashareholderofthelistedcompany,fullyrespecttheindependentstatusoflegalpersonofthelistedcompanyandsafeguardtheindependentoperationandautonomousdecisionmakingofthelistedcompany.Iwillcausedirectorsofthelistedcompanynominatedbyme(ifany)toperformtheirdutyoffaithanddiligenceaccordingtolawinstrictaccordancewiththeCompanyLawofChinaandthearticlesofassociationofthelistedcompany.3.Iandmyaffiliatesundertakenottooccupyanyfundsofthelistedcompanybymeansofborrowings,debtservice,advanceorotherwiseorrequirethelistedcompanyprovideanyillegalguaranteesforthebenefitofmeandmyaffiliates.4.Ifthelistedcompanyhastoincurunavoidablerelated-partytransactionswithmeoranyofmyaffiliatesinitsfuture28,2016commitmentsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd81businessactivities,IwillcausesuchtransactionstoperformrelatedproceduresstrictlyaccordingtotheapplicableChineselawsandregulations,articlesofassociationofthelistedcompanyandrelatedrulesofthelistedcompanyandIwillstrictlyperformtheobligationnottovotewhenthegeneralmeetingsofthelistedcompanyvoteonrelated-partytransactions;executeagreementswiththelistedcompanyandtimelyconductinformationdisclosureaccordingtolaw;guaranteethatsuchtransactionswillbeconductedaccordingtonormalcommercialconditionsandIandmyaffiliateswillnotrequire,oraccept,thelistedcompaniestoofferanyconditionsmorefavorablethanthoseofferedtothirdpartiesinanyarm’slengthtransaction,andundertakenottojeopardizethelegitimaterightsandinterestsofthelistedcompanyandothershareholdersthroughrelated-partytransaction.5.Iandmyaffiliateswillstrictlyandingoodfaithperformvariousrelated-partytransactionagreementsexecutedwiththelistedcompany.Iandmyaffiliateswillnotseekfromthelistedcompanyanyinterestsorbenefitsbeyondthosesetforthintheaforesaidagreements.GaoZhanhe;YanJunfangOthercommitments1.YananBenyuan’sHuangzhangPigFarmProject,YanchuanYongxiang’sEco-friendlyCommodityPigFarmingCommunityConstructionProject,ZhidanDingxiang’seco-friendlypigbreedingbaseprojectareintheprocessofsecuringtheenvironmentalimpactassessmentapproval,andtherearenosubstantiallegalimpedimentstosecuringtheenvironmentalimpactassessmentapprovalforsuchconstructionprojects.2.Thesewagedisposalfacilitiesoffarmingbases,feedplantsandslaughteringandmeatpackingplantsofBesunAgriculturalanditssubsidiariesareinDecember28,20162/25/2020HonoringthecommitmentsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd82normaloperation,withoutcausinganysignificantenvironmentalpollutionaccidents.3.Weandrelatedcompanieswillactivelyrenovate,upgradeandreplacetheenvironmentalequipmentofrelatedcompaniesandactivelyandfullyconsultandcommunicatewithrelatedgovernmentauthoritiesinanefforttoobtainthecorrespondingenvironmentalimpactassessmentapprovals,EIAacceptanceandsewagedischargepermitsassoonaspossibleandresolvesuchcircumstancesofsubstandardenvironmentalprotectionpractices.4.Ifthesubstandardenvironmentalprotectionpracticesbeforethisshareissueforassetpurchaseviapaymentincashcauserelatedcompaniestobesubjectedtoadministrativepunishmentbyrelatedgovernmentauthoritiesortoberequiredtobearotherlegalresponsibilities,wewillactivelytakerelatedmeasuresasappropriatetocompensaterelatedcompaniesforanyandalleconomiclossessoincurredandminimizeoreliminatetheadverseeffects.CommitmentsmadeatthetimeofIPOorrefinancingNoneNoneNoneNoneNoneNoneEquityincentivecommitmentsNoneNoneNoneNoneNoneNoneOthercommitmentsmadetotheminorityshareholdersofthecompanyNoneNoneNoneNoneNoneNoneWhetherthecommitmentswereperformedontimeYesIfcommitmentswerenotperformedandcompletedwithintheNotapplicableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd83timelimit,thespecificreasonsforfailuretocompleteperformanceandthenextworkplansshouldbedetailed.IV.AppointmentanddismissalofaccountingfirmWhetherthesemiannualfinancialreporthasbeenaudited□yes√noThecompany’ssemiannualreporthasnotbeenaudited.V.Remarksoftheboardofdirectorsandboardofsupervisorsonthe“nonstandardauditor’sreport”issuedbytheaccountingfirmforthisreportingperiod□Applicable√NotapplicableVI.Remarksoftheboardofdirectorsondetailsrelatedtothepreviousyear’s“nonstandardauditor’sreport”□Applicable√NotapplicableVII.Mattersrelatedtobankruptcyreorganization□Applicable√NotapplicableThecompanydidnotincuranymattersrelatedtobankruptcyreorganizationduringthereportingperiod.VIII.LitigationsSignificantlitigationsarbitrations□Applicable√NotapplicableThecompanyhadnosignificantlitigationsorarbitrationsduringthereportingperiod.Otherlitigations√Applicable□NotapplicableBasicinformationaboutlitigation(arbitration)Amountinvolved(10,000Yuan)WhetherformedestimatedliabilitiesLitigation(arbitration)progressResultsandeffectsoftrialsoflitigations(arbitrations)Enforcementoflitigation(arbitration)judgmentsSummaryofothernon-significantlitigations3,460.36NoPhaseofcasefiling,trialorenforcementPartoflitigationsareatthephaseofcasefiling,someareatthephaseoftrialandsomehavebeengrantedmediationsorjudgmentswithintheNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd84reportingperiodIX.Mediascrutiny□Applicable√NotapplicableThecompanydidnotexperienceanyprevalentmediascrutinyduringthereportingperiod.X.Punishmentsandrectifications□Applicable√NotapplicableThecompanyhadnopunishmentsorrectificationsduringthereportingperiod.XI.Statusofintegrityofthecompanyanditscontrollingshareholdersandactualcontrollers□Applicable√NotapplicableXII.Implementationofequityincentiveplans,employeestockincentiveplansorotheremployeeincentivesofthecompany√Applicable□NotapplicableThe44thmeetingofthe7thboardofdirectorsofthecompany,the15thmeetingofthe7thboardofsupervisorsandthe1stextraordinarygeneralmeetingof2019deliberatedandapprovedthe“ProposalregardingtheCompany’s2019RestrictedStockandStockOptionIncentivePlan(Draft)anditsSummary”respectively,andthecompanypublicizedthelistofincentiverecipientsunderthisstockincentiveplaninsidethecompany,whichwasverifiedbytheboardofsupervisorswhomaderemarksonthepublicationofthelist.Thecompany’sindependentdirectorsexpressedrelatedindependentopinions,andlegalfirmandotherintermediariesalsoissuedreports.Accordingtotheauthorizationbythe1stextraordinarygeneralmeetingofthecompanyin2019,the2ndmeetingofthe8thboardofdirectorsandthe2ndmeetingofthe8thboardofsupervisorsofthecompanydeliberatedandapprovedthe“ProposalregardingGrantofRestrictedStockandStockOptionstoIncentiveRecipients”,wherebythegrantdatedeterminedbythecompanyforgrantof3.60millionsharesofrestrictedstockand8.40millionstockoptionstoincentiverecipientsisJuly18,2019.Thepriceatwhichthecompanygrantedtherestrictedstockto24incentiverecipientsthistimewas8.31Yuan/share,thefirstgrantdatewasJuly18,2019,andthelistingdatewasJuly30,2019;theexercisepriceofthestockoptionsgrantedto24incentiverecipientswas16.62Yuan/share,andthedatewhentheregistrationoffirstgrantwascompletedwasJuly29,2019.The19thmeetingofthe8thboardofdirectorsandthe10thmeetingofthe8thboardofsupervisorsofthecompanydeliberatedandapprovedthe“ProposalregardingtheFirstExercisePeriod/UnlockingPeriodExercise/SatisfactionofConditionsforLiftingRestrictionsonSaleunderthe2019StockOptionandRestrictedStockIncentivePlan”,wherebythecompanyhandledtheliftingofrestrictionsonsalefor877,500sharesofrestrictedstockheldby23incentiverecipientswhomettheconditionsforthefirstunlockingperiodofthepresentequityincentiveplan,withthetimeoflistingandtradingbeingAugust20,2020.XIII.Significantrelated-partytransactions1.Related-partytransactionsrelatedtodailyoperations□Applicable√NotapplicableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd85Thecompanydidnotmakeanyrelated-partytransactionsrelatedtodailyoperationsduringthereportingperiod.2.Related-partytransactionsincurredbyacquisitionorsaleofassetsorequities□Applicable√NotapplicableThecompanydidnotmakeanyrelated-partytransactionsofacquisitionorsaleofassetsorequitiesduringthereportingperiod.3.Related-partytransactionsofjointexternalinvestment□Applicable√NotapplicableThecompanydidnotmakeanyrelated-partytransactionsofjointexternalinvestmentduringthereportingperiod.4.Dealingsoffinancialclaimsanddebtswithrelatedparties□Applicable√NotapplicableThecompanyhadnodealingsoffinancialclaimsanddebtswithrelatedpartiesduringthereportingperiod.5.Othersignificantrelated-partytransactions□Applicable√NotapplicableThecompanyhadnoothersignificantrelated-partytransactionsduringthereportingperiod.XIV.Occupationofnon-operatingfundsofthelistedcompanybycontrollingshareholdersandtheirrelatedparties□Applicable√NotapplicableThecompanyhadnooccupationofnon-operatingfundsofthelistedcompanybycontrollingshareholdersandtheirrelatedpartiesduringthereportingperiod.XV.Significantcontractsandtheirperformance1.Trusteeship,contractingandleasingmatters(1)Trusteeship□Applicable√NotapplicableThecompanyhadnotrusteeshipduringthereportingperiod.(2)Contracting□Applicable√NotapplicableThecompanyhadnocontractingduringthereportingperiod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd86(3)Leasing□Applicable√NotapplicableThecompanyhadnoleasingduringthereportingperiod.2.Significantguarantees√Applicable□Notapplicable(1)GuaranteesUnit:10,000YuanExternalguaranteesprovidedbythecompanyanditssubsidiaries(excludingguaranteesprovidedtosubsidiaries)NameofguaranteebeneficiaryDateofrelatedannouncementanddisclosureofguaranteedamountGuaranteedamountDateactuallyincurredAmountactuallyguaranteedTypeofguaranteeGuaranteeperiodWhetherperformancewascompletedWhetherrelated-partyguaranteeornotWangChunjuApril26,2019640November15,20196JointliabilityguaranteeOneyearNoNoLongYunxingApril26,2019600November25,20198JointliabilityguaranteeOneyearNoNoLiMingxingApril26,201950July25,20198JointliabilityguaranteeOneyearNoNoLuoChaofaApril26,201987.5November08,201914JointliabilityguaranteeOneyearNoNoHuangLashengApril26,201962.5July24,201910JointliabilityguaranteeOneyearNoNoNieLachuApril26,201962.5October17,201910JointliabilityguaranteeOneyearNoNoZhongGuohuaApril26,201975November04,201912JointliabilityguaranteeOneyearNoNoQingXianqiaoApril26,201962.5November22,201910JointliabilityguaranteeOneyearNoNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd87ChenZhimingApril26,2019360October25,201912JointliabilityguaranteeOneyearNoNoZengXinhuaApril26,201980July19,20195JointliabilityguaranteeOneyearNoNoLiuQuanhaoApril26,2019128July19,20198JointliabilityguaranteeOneyearNoNoWuZhenganApril26,2019128October17,20198JointliabilityguaranteeOneyearNoNoCaoCanApril26,201964October17,20194JointliabilityguaranteeOneyearNoNoYaoChaohongApril26,201988.89November14,20196JointliabilityguaranteeOneyearNoNoLiZhonganApril26,2019177.78December19,201912JointliabilityguaranteeOneyearNoNoLiKailingApril26,2019133.33December02,20199JointliabilityguaranteeOneyearNoNoWuGantaoApril26,201974.99September26,201910JointliabilityguaranteeOneyearNoNoXuGenrongApril26,201924.97September26,20193.33JointliabilityguaranteeOneyearNoNoYuanJingpu,WangYefangApril26,201950.02September24,20196.67JointliabilityguaranteeOneyearNoNoYangZuobeiApril26,201950.02September30,20196.67JointliabilityguaranteeOneyearNoNoCaiHaizhiApril26,2019150September18,201923.33JointliabilityguaranteeOneyearNoNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd88Totalamountofexternalguaranteesapprovedduringthereportingperiod(A1)0Totalincurredamountofexternalguaranteesduringthereportingperiod(A2)131.3Totalamountofexternalguaranteesapprovedattheendofreportingperiod(A3)3,150Totalbalanceofactualexternalguaranteesattheendofreportingperiod(A4)192GuaranteesprovidedbythecompanyforitssubsidiariesNameofguaranteebeneficiaryDateofrelatedannouncementanddisclosureofguaranteedamountGuaranteedamountDateactuallyincurredAmountactuallyguaranteedTypeofguaranteeGuaranteeperiodWhetherperformancewascompletedWhetherrelated-partyguaranteeornotNewHopeSingaporePte.LtdOctober25,20191,752January21,2020475.34Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,20191,825January30,2020495.2Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,2019346February05,202094.01Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,2019249February17,202067.5Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,20191,217March02,2020330.33Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,20191,349March03,2020366.05Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,2019464March11,2020125.95Jointliabilityguarantee180daysNoYesNewHopeSingaporePte.LtdOctober25,20191,641March12,2020445.29Jointliabilityguarantee180daysNoYesNewHopeSingaporePte.October25,2019421March24,2020114.34Jointliabilityguarantee170daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd89LtdNewHopeSingaporePte.LtdOctober25,2019420April09,2020113.92Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,2019508April15,2020137.73Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdOctober25,2019101April16,202027.36Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdOctober25,20191,817April16,2020493.19Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,201923,194April16,20206,294.29Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdOctober25,20191,798April17,2020487.91Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdOctober25,2019870April17,2020236.14Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,20191,139April21,2020309.01Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdOctober25,20193,259April24,2020884.5Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,2020214May04,202058.14Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,20201,638May06,2020444.58Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020339May08,202092.07Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,202026,087May08,20207,079.5Jointliabilityguarantee100daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd90NewHopeSingaporePte.LtdApril29,2020115May11,202031.14Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020634May12,2020171.97Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,20201,411May14,2020382.85Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,20202,682May14,2020727.79Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,20202,257May18,2020612.52Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,2020985May19,2020267.27Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020479May20,2020130.06Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,20206,738May20,20201,828.66Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020274May22,202074.35Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,20202,383May22,2020646.73Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020913May22,2020247.64Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,20201,452May25,2020393.97Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,202086May26,202023.28Jointliabilityguarantee90daysNoYesNewHopeApril29,2020115May26,202031.14Jointliability60daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd91SingaporePte.LtdguaranteeNewHopeSingaporePte.LtdApril29,202089May27,202024.08Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020287June01,202077.81Jointliabilityguarantee30daysNoYesNewHopeSingaporePte.LtdApril29,2020795June01,2020215.75Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,2020364June01,202098.84Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,20205,810June02,20201,576.76Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,2020772June02,2020209.59Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,2020853June03,2020231.42Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020154June04,202041.66Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020557June05,2020151.19Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,20203,954June05,20201,073Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020245June09,202066.57Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020299June09,202081.23Jointliabilityguarantee30daysNoYesNewHopeSingaporePte.April29,20206,788June11,20201,842.2Jointliabilityguarantee60daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd92LtdNewHopeSingaporePte.LtdApril29,2020534June12,2020144.86Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,20201,730June12,2020469.58Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,2020667June12,2020181.07Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,20203,826June12,20201,038.28Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,20201,090June12,2020295.73Jointliabilityguarantee30daysNoYesNewHopeSingaporePte.LtdApril29,2020128June17,202034.65Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020149June18,202040.53Jointliabilityguarantee30daysNoYesNewHopeSingaporePte.LtdApril29,20202,213June19,2020600.62Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,20201,447June22,2020392.69Jointliabilityguarantee30daysNoYesNewHopeSingaporePte.LtdApril29,20206,213June22,20201,686.06Jointliabilityguarantee180daysNoYesNewHopeSingaporePte.LtdApril29,2020463June22,2020125.78Jointliabilityguarantee60daysNoYesNewHopeSingaporePte.LtdApril29,2020161June23,202043.65Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,20202,331June23,2020632.55Jointliabilityguarantee60daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd93NewHopeSingaporePte.LtdApril29,2020787June25,2020213.45Jointliabilityguarantee170daysNoYesNewHopeSingaporePte.LtdApril29,20201,743June26,2020472.97Jointliabilityguarantee90daysNoYesNewHopeSingaporePte.LtdApril29,20201,377June29,2020373.68Jointliabilityguarantee30daysNoYesNewHopeSingaporePte.LtdApril29,202015,913June05,20204,318.5JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdApril29,20205,217June15,20201,415.9JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdApril14,201678,261July05,201621,238.5Jointliabilityguarantee6yearsNoYesNewHopeSingaporePte.LtdApril14,201619,565July05,20165,309.63Jointliabilityguarantee6yearsNoYesNewHopeSingaporePte.LtdOctober25,201924,522December24,20196,654.73JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201910,435January22,20202,831.8JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,20197,826February07,20202,123.85JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,20193,391March16,2020920.34JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdApril29,20205,217June03,20201,415.9JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201952,174April09,202014,159JointliabilityguaranteeOneyearNoYesNewHopeApril26,201913,044,July23,20193,539.75JointliabilityOneyearNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd94SingaporePte.LtdguaranteeNewHopeSingaporePte.LtdApril26,201922,957Saturday,August03,20196,229.96JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdApril26,20192,478Sunday,August04,2019672.55JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdApril26,20192,870Wednesday,August07,2019778.75JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdApril26,201923,478Saturday,August10,20196,371.55JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201952,174Saturday,November02,201914,159JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201926,087Saturday,March14,20207,079.5JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201926,087Thursday,February13,20207,079.5JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201952,174Sunday,March15,202014,159JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,20196,000Sunday,April05,20201,628.29JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdApril26,201913,044Monday,July08,20193,539.75JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201915,131Thursday,March12,20204,106.11JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,20197,044Thursday,March12,20201,911.47JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.April29,202010,957Thursday,May28,20202,973.39JointliabilityguaranteeOneyearNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd95LtdNewHopeSingaporePte.LtdOctober25,20197,826Wednesday,April08,20202,123.85JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201920,870Wednesday,March11,20205,663.6JointliabilityguaranteeOneyearNoYesNewHopeSingaporePte.LtdOctober25,201978,261Wednesday,February19,202021,238.5JointliabilityguaranteeOneyearNoYesSichuanNewHopeLiuheFarmingCo.,LtdOctober25,20192,848Monday,February10,2020900Jointliabilityguarantee356daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdOctober25,20196,330Monday,February10,20202,000Jointliabilityguarantee721daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdOctober25,201950,638Monday,February10,202016,000Jointliabilityguarantee1086daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdOctober25,201960,133Thursday,February27,202019,000Jointliabilityguarantee366daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdApril29,2020132,926Tuesday,March24,202042,000Jointliabilityguarantee730daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesOctober25,20193,427Saturday,January04,20201,082.91Jointliabilityguarantee187daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesOctober25,20191,958Wednesday,January15,2020618.67Jointliabilityguarantee177daysNoYesSichuanNewOctober25,20194,888Wednesday,1,544.34Jointliability176daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd96HopeLiuheFarmingCo.,LtdChengduBranchesJanuary22,2020guaranteeSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesApril29,20203,204Thursday,May21,20201,012.5Jointliabilityguarantee180daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesApril29,20209,879Monday,May25,20203,121.06Jointliabilityguarantee179daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesApril29,20203,858Wednesday,May27,20201,218.99Jointliabilityguarantee180daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesApril29,20202,912Thursday,May28,2020920.03Jointliabilityguarantee180daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesApril29,20206,440Wednesday,June03,20202,034.95Jointliabilityguarantee180daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesApril29,20204,171Monday,June08,20201,317.9Jointliabilityguarantee179daysNoYesSichuanNewHopeLiuheFarmingCo.,LtdChengduBranchesApril29,20206,388Wednesday,June10,20202,019.05Jointliabilityguarantee180daysNoYesLiaoningXinwangTechnologyOctober25,201969Friday,March27,202059.84Jointliabilityguarantee268daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd97Co.,LtdLiaoningXinwangTechnologyCo.,LtdOctober25,2019115Friday,March27,2020100Jointliabilityguarantee450daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,2019115Friday,March27,2020100Jointliabilityguarantee633daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,2019346Friday,March27,2020300Jointliabilityguarantee815daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,2019275Friday,March27,2020238.67Jointliabilityguarantee998daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20192,308Friday,March27,20202,000Jointliabilityguarantee1180daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20191,446Friday,March27,20201,253.38Jointliabilityguarantee1363daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20194,877Friday,March27,20204,226.71Jointliabilityguarantee1546daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20194,615Friday,March27,20204,000Jointliabilityguarantee1729daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20195,110Friday,March27,20204,428.27Jointliabilityguarantee1911daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20194,615Friday,March27,20204,000Jointliabilityguarantee2094daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd98LiaoningXinwangTechnologyCo.,LtdOctober25,20195,263Friday,March27,20204,561.05Jointliabilityguarantee2276daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20194,615Friday,March27,20204,000Jointliabilityguarantee2459daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20195,275Friday,March27,20204,571.54Jointliabilityguarantee2641daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20194,615Friday,March27,20204,000Jointliabilityguarantee2824daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20195,493Friday,March27,20204,760.54Jointliabilityguarantee3007daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20194,615Friday,March27,20204,000Jointliabilityguarantee3190daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20191,154Friday,March27,20201,000Jointliabilityguarantee3372daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,20191,154Friday,March27,20201,000Jointliabilityguarantee3555daysNoYesLiaoningXinwangTechnologyCo.,LtdOctober25,2019925Friday,March27,2020800Jointliabilityguarantee3652daysNoYesXiajinNewHopeLiuheBreedingCo.,LtdApril26,20191,000Wednesday,November27,20191,000Jointliabilityguarantee361daysNoYesXiajinNewOctober25,201947,953Friday,February5,900Jointliability2188daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd99HopeLiuheFarmingCo.,Ltd28,2020guaranteeXiajinNewHopeLiuheFarmingCo.,LtdOctober25,20199,753Thursday,March12,20201,200Jointliabilityguarantee2175daysNoYesXiajinNewHopeLiuheFarmingCo.,LtdOctober25,201911,151Thursday,March26,20201,372Jointliabilityguarantee2161daysNoYesXiajinNewHopeLiuheFarmingCo.,LtdOctober25,201911,143Thursday,March26,20201,371Jointliabilityguarantee2161daysNoYesYantingXinhaoFarmingCo.,LtdApril26,201978Monday,September30,201950Jointliabilityguarantee357daysNoYesYantingXinhaoFarmingCo.,LtdApril26,201953Monday,September30,201934Jointliabilityguarantee538daysNoYesYantingXinhaoFarmingCo.,LtdApril26,2019466Monday,September30,2019300Jointliabilityguarantee722daysNoYesYantingXinhaoFarmingCo.,LtdApril26,201953Monday,September30,201934Jointliabilityguarantee903daysNoYesYantingXinhaoFarmingCo.,LtdApril26,2019466Monday,September30,2019300Jointliabilityguarantee1087daysNoYesYantingXinhaoFarmingCo.,LtdApril26,2019182Monday,September30,2019117Jointliabilityguarantee1268daysNoYesYantingXinhaoFarmingCo.,LtdApril26,20191,242Monday,September30,2019800Jointliabilityguarantee1452daysNoYesYantingXinhaoFarmingCo.,LtdApril26,2019514Monday,September30,2019331Jointliabilityguarantee1634daysNoYesYantingXinhaoFarmingCo.,April26,20191,552Monday,September30,1,000Jointliabilityguarantee1827daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd100Ltd2019YantingXinhaoFarmingCo.,LtdApril26,2019233Monday,September30,2019150Jointliabilityguarantee357daysNoYesYantingXinhaoFarmingCo.,LtdApril26,2019121Monday,September30,201978Jointliabilityguarantee538daysNoYesYantingXinhaoFarmingCo.,LtdApril26,20191,086Monday,September30,2019700Jointliabilityguarantee722daysNoYesYantingXinhaoFarmingCo.,LtdApril26,2019121Monday,September30,201978Jointliabilityguarantee903daysNoYesYantingXinhaoFarmingCo.,LtdApril26,20191,086Monday,September30,2019700Jointliabilityguarantee1087daysNoYesYantingXinhaoFarmingCo.,LtdApril26,2019216Monday,September30,2019139Jointliabilityguarantee1268daysNoYesYantingXinhaoFarmingCo.,LtdApril26,20193,104Monday,September30,20192,000Jointliabilityguarantee1452daysNoYesYantingXinhaoFarmingCo.,LtdApril26,2019171Monday,September30,2019110Jointliabilityguarantee1634daysNoYesYantingXinhaoFarmingCo.,LtdApril26,20194,656Monday,September30,20193,000Jointliabilityguarantee1827daysNoYesYantingXinhaoFarmingCo.,LtdOctober25,201978Monday,December30,201950Jointliabilityguarantee266daysNoYesYantingXinhaoFarmingCo.,LtdOctober25,201953Monday,December30,201934Jointliabilityguarantee447daysNoYesYantingXinhaoFarmingCo.,LtdOctober25,2019466Monday,December30,2019300Jointliabilityguarantee631daysNoYesYantingXinhaoFarmingCo.,LtdOctober25,201953Monday,December30,201934Jointliabilityguarantee812daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd101YantingXinhaoFarmingCo.,LtdOctober25,2019466Monday,December30,2019300Jointliabilityguarantee996daysNoYesYantingXinhaoFarmingCo.,LtdOctober25,2019182Monday,December30,2019117Jointliabilityguarantee1177daysNoYesYantingXinhaoFarmingCo.,LtdOctober25,20191,242Monday,December30,2019800Jointliabilityguarantee1361daysNoYesYantingXinhaoFarmingCo.,LtdOctober25,2019514Monday,December30,2019331Jointliabilityguarantee1543daysNoYesYantingXinhaoFarmingCo.,LtdOctober25,20191,546Monday,December30,20191,000Jointliabilityguarantee1736daysNoYesSantaiNewHopeFarmingTechnologyCo.,LtdOctober25,201920,000Friday,January03,20201,000Jointliabilityguarantee365daysNoYesNingmingXinhaoFarmingCo.,LtdOctober25,20193,429Tuesday,April14,20202,000Jointliabilityguarantee729daysNoYesNingmingXinhaoFarmingCo.,LtdOctober25,20195,143Tuesday,April14,20203,000Jointliabilityguarantee1094daysNoYesNingmingXinhaoFarmingCo.,LtdOctober25,20195,143Tuesday,April14,20203,000Jointliabilityguarantee1460daysNoYesNingmingXinhaoFarmingCo.,LtdOctober25,20195,143Tuesday,April14,20203,000Jointliabilityguarantee1825daysNoYesNingmingXinhaoFarmingCo.,LtdOctober25,20195,143Tuesday,April14,20203,000Jointliabilityguarantee2190daysNoYesNingmingXinhaoOctober25,20192,571Tuesday,April14,20201,500Jointliabilityguarantee2555daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd102FarmingCo.,LtdNingmingXinhaoFarmingCo.,LtdOctober25,20192,571Tuesday,April14,20201,500Jointliabilityguarantee2921daysNoYesNingmingXinhaoFarmingCo.,LtdOctober25,20192,571Tuesday,April14,20201,500Jointliabilityguarantee3286daysNoYesNingmingXinhaoFarmingCo.,LtdOctober25,20192,571Tuesday,April14,20201,500Jointliabilityguarantee3651daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,2020857Friday,June12,2020500Jointliabilityguarantee670daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20201,286Friday,June12,2020750Jointliabilityguarantee1035daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20201,286Friday,June12,2020750Jointliabilityguarantee1401daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20201,286Friday,June12,2020750Jointliabilityguarantee1766daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20201,286Friday,June12,2020750Jointliabilityguarantee2131daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,2020643Friday,June12,2020375Jointliabilityguarantee2496daysNoYesNingmingXinhaoFarmingCo.,April29,2020643Friday,June12,2020375Jointliabilityguarantee2862daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd103LtdNingmingXinhaoFarmingCo.,LtdApril29,2020643Friday,June12,2020375Jointliabilityguarantee3227daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,2020643Friday,June12,2020375Jointliabilityguarantee3592daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20201,714Monday,June29,20201,000Jointliabilityguarantee653daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20202,571Monday,June29,20201,500Jointliabilityguarantee1018daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20202,571Monday,June29,20201,500Jointliabilityguarantee1384daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20202,571Monday,June29,20201,500Jointliabilityguarantee1749daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20202,571Monday,June29,20201,500Jointliabilityguarantee2114daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20201,286Monday,June29,2020750Jointliabilityguarantee2479daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20201,286Monday,June29,2020750Jointliabilityguarantee2845daysNoYesNingmingXinhaoFarmingCo.,LtdApril29,20201,286Monday,June29,2020750Jointliabilityguarantee3210daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd104NingmingXinhaoFarmingCo.,LtdApril29,20201,286Monday,June29,2020750Jointliabilityguarantee3575daysNoYesLaibinXinhaoFarmingCo.,LtdOctober25,201940,000Tuesday,April21,202010,000Jointliabilityguarantee364daysNoYesHuanghuaXinhaoTechnologyCo.,LtdApril26,201920,000Thursday,January02,202016,000Jointliabilityguarantee730daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20192,083Wednesday,April15,20201,500Jointliabilityguarantee728daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20193,125Wednesday,April15,20202,250Jointliabilityguarantee1093daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20193,125Wednesday,April15,20202,250Jointliabilityguarantee1459daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20193,125Wednesday,April15,20202,250Jointliabilityguarantee1824daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20193,125Wednesday,April15,20202,250Jointliabilityguarantee2189daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20191,563Wednesday,April15,20201,125Jointliabilityguarantee2554daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20191,563Wednesday,April15,20201,125Jointliabilityguarantee2920daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20191,563Wednesday,April15,20201,125Jointliabilityguarantee3285daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,20191,563Wednesday,April15,20201,125Jointliabilityguarantee3650daysNoYesHezhouXinhaoFarmingCo.,October25,201969Friday,April24,202050Jointliabilityguarantee667daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd105LtdHezhouXinhaoFarmingCo.,LtdOctober25,2019347Friday,April24,2020250Jointliabilityguarantee719daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,201969Friday,April24,202050Jointliabilityguarantee1032daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019556Friday,April24,2020400Jointliabilityguarantee1084daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,201969Friday,April24,202050Jointliabilityguarantee1397daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019556Friday,April24,2020400Jointliabilityguarantee1450daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019313Friday,April24,2020225Jointliabilityguarantee1763daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019313Friday,April24,2020225Jointliabilityguarantee1815daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019313Friday,April24,2020225Jointliabilityguarantee2128daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019313Friday,April24,2020225Jointliabilityguarantee2180daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019156Friday,April24,2020112.5Jointliabilityguarantee2493daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019156Friday,April24,2020112.5Jointliabilityguarantee2545daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019156Friday,April24,2020112.5Jointliabilityguarantee2858daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019156Friday,April24,2020112.5Jointliabilityguarantee2911daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd106HezhouXinhaoFarmingCo.,LtdOctober25,2019156Friday,April24,2020112.5Jointliabilityguarantee3224daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019156Friday,April24,2020112.5Jointliabilityguarantee3276daysNoYesHezhouXinhaoFarmingCo.,LtdOctober25,2019311Friday,April24,2020225Jointliabilityguarantee3641daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.82Jointliabilityguarantee1807daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.83Jointliabilityguarantee1807daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.83Jointliabilityguarantee1807daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.83Jointliabilityguarantee1807daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.83Jointliabilityguarantee1807daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.83Jointliabilityguarantee1807daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.83Jointliabilityguarantee1807daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.83Jointliabilityguarantee1807daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd107LiaochengXinhaoFarmingCo.,LtdOctober25,201985Thursday,December12,201950.83Jointliabilityguarantee1807daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019840Friday,December20,2019500Jointliabilityguarantee1801daysNoYesLiaochengOctober25,2019504Friday,January03,300Jointliability1787daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd108XinhaoFarmingCo.,Ltd2020guaranteeLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Friday,January03,2020300Jointliabilityguarantee1787daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Friday,January03,2020300Jointliabilityguarantee1787daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Friday,January03,2020300Jointliabilityguarantee1787daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Friday,January03,2020300Jointliabilityguarantee1787daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Friday,January03,2020300Jointliabilityguarantee1787daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Friday,January03,2020300Jointliabilityguarantee1787daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Friday,January03,2020300Jointliabilityguarantee1787daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Friday,January03,2020300Jointliabilityguarantee1787daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesLiaochengXinhaoOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd109FarmingCo.,LtdLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesLiaochengXinhaoFarmingCo.,LtdOctober25,2019504Thursday,February20,2020300Jointliabilityguarantee1739daysNoYesLiaochengXinhaoFarmingCo.,LtdApril29,20201,177Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesLiaochengXinhaoFarmingCo.,LtdApril29,20201,177Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesLiaochengXinhaoFarmingCo.,April29,20201,177Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd110LtdLiaochengXinhaoFarmingCo.,LtdApril29,20201,177Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesLiaochengXinhaoFarmingCo.,LtdApril29,20201,177Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesLiaochengXinhaoFarmingCo.,LtdApril29,20201,177Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesLiaochengXinhaoFarmingCo.,LtdApril29,20201,177Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesLiaochengXinhaoFarmingCo.,LtdApril29,20201,177Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesLiaochengXinhaoFarmingCo.,LtdApril29,20201,187Thursday,May28,2020700Jointliabilityguarantee1641daysNoYesTangshanXinhaoFarmingCo.,LtdOctober25,20191,591Friday,April24,20201,500Jointliabilityguarantee547daysNoYesTangshanXinhaoFarmingCo.,LtdOctober25,20191,591Friday,April24,20201,500Jointliabilityguarantee729daysNoYesTangshanXinhaoFarmingCo.,LtdOctober25,20194,295Friday,April24,20204,050Jointliabilityguarantee912daysNoYesTangshanXinhaoFarmingCo.,LtdOctober25,20194,295Friday,April24,20204,050Jointliabilityguarantee1094daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd111TangshanXinhaoFarmingCo.,LtdOctober25,20194,295Friday,April24,20204,050Jointliabilityguarantee1277daysNoYesTangshanXinhaoFarmingCo.,LtdOctober25,20194,295Friday,April24,20204,050Jointliabilityguarantee1460daysNoYesTangshanXinhaoFarmingCo.,LtdOctober25,20194,295Friday,April24,20204,050Jointliabilityguarantee1643daysNoYesTangshanXinhaoFarmingCo.,LtdOctober25,20194,295Friday,April24,20204,050Jointliabilityguarantee1825daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,202020Friday,May08,202019Jointliabilityguarantee354daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,2020383Friday,May08,2020361Jointliabilityguarantee719daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,2020403Friday,May08,2020380Jointliabilityguarantee902daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,2020403Friday,May08,2020380Jointliabilityguarantee1084daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,2020605Friday,May08,2020570Jointliabilityguarantee1267daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,2020605Friday,May08,2020570Jointliabilityguarantee1450daysNoYesTangshanApril29,2020806Friday,May08,760Jointliability1633daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd112XinhaoFarmingCo.,Ltd2020guaranteeTangshanXinhaoFarmingCo.,LtdApril29,2020806Friday,May08,2020760Jointliabilityguarantee1815daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,008Friday,May08,2020950Jointliabilityguarantee1998daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,008Friday,May08,2020950Jointliabilityguarantee2180daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,209Friday,May08,20201,140Jointliabilityguarantee2363daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,209Friday,May08,20201,140Jointliabilityguarantee2545daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,814Friday,May08,20201,710Jointliabilityguarantee2728daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,814Friday,May08,20201,710Jointliabilityguarantee2911daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,202048Monday,May25,202045.5Jointliabilityguarantee337daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,2020917Monday,May25,2020864.5Jointliabilityguarantee702daysNoYesTangshanXinhaoApril29,2020965Monday,May25,2020910Jointliabilityguarantee885daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd113FarmingCo.,LtdTangshanXinhaoFarmingCo.,LtdApril29,2020965Monday,May25,2020910Jointliabilityguarantee1067daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,448Monday,May25,20201,365Jointliabilityguarantee1250daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,448Monday,May25,20201,365Jointliabilityguarantee1433daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,930Monday,May25,20201,820Jointliabilityguarantee1616daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20201,930Monday,May25,20201,820Jointliabilityguarantee1798daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20202,413Monday,May25,20202,275Jointliabilityguarantee1981daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20202,413Monday,May25,20202,275Jointliabilityguarantee2163daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20202,895Monday,May25,20202,730Jointliabilityguarantee2346daysNoYesTangshanXinhaoFarmingCo.,LtdApril29,20202,895Monday,May25,20202,730Jointliabilityguarantee2528daysNoYesTangshanXinhaoFarmingCo.,April29,20204,343Monday,May25,20204,095Jointliabilityguarantee2711daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd114LtdTangshanXinhaoFarmingCo.,LtdApril29,20204,345Monday,May25,20204,095Jointliabilityguarantee2894daysNoYesCaoxianXinhaoFarmingCo.,LtdOctober25,2019900Tuesday,April28,2020876.8Jointliabilityguarantee722daysNoYesCaoxianXinhaoFarmingCo.,LtdOctober25,20191,801Tuesday,April28,20201,753.6Jointliabilityguarantee905daysNoYesCaoxianXinhaoFarmingCo.,LtdOctober25,20192,701Tuesday,April28,20202,630.4Jointliabilityguarantee1087daysNoYesCaoxianXinhaoFarmingCo.,LtdOctober25,20193,602Tuesday,April28,20203,507.2Jointliabilityguarantee1270daysNoYesCaoxianXinhaoFarmingCo.,LtdOctober25,20194,502Tuesday,April28,20204,384Jointliabilityguarantee1453daysNoYesCaoxianXinhaoFarmingCo.,LtdOctober25,20194,502Tuesday,April28,20204,384Jointliabilityguarantee1636daysNoYesCaoxianXinhaoFarmingCo.,LtdOctober25,20194,502Tuesday,April28,20204,384Jointliabilityguarantee1817daysNoYesCaoxianXinhaoFarmingCo.,LtdApril29,2020100Monday,May25,202096.92Jointliabilityguarantee695daysNoYesCaoxianXinhaoFarmingCo.,LtdApril29,2020199Monday,May25,2020193.84Jointliabilityguarantee878daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd115CaoxianXinhaoFarmingCo.,LtdApril29,2020299Monday,May25,2020290.76Jointliabilityguarantee1060daysNoYesCaoxianXinhaoFarmingCo.,LtdApril29,2020398Monday,May25,2020387.68Jointliabilityguarantee1243daysNoYesCaoxianXinhaoFarmingCo.,LtdApril29,2020498Monday,May25,2020484.59Jointliabilityguarantee1426daysNoYesCaoxianXinhaoFarmingCo.,LtdApril29,2020498Monday,May25,2020484.59Jointliabilityguarantee1609daysNoYesCaoxianXinhaoFarmingCo.,LtdApril29,2020498Monday,May25,2020484.59Jointliabilityguarantee1790daysNoYesLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,2020102Thursday,April30,2020100Jointliabilityguarantee173daysNoYesLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,2020203Thursday,April30,2020200Jointliabilityguarantee385daysNoYesLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,2020203Thursday,April30,2020200Jointliabilityguarantee568daysNoYesLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,20201,015Thursday,April30,20201,000Jointliabilityguarantee750daysNoYesLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,20202,030Thursday,April30,20202,000Jointliabilityguarantee932daysNoYesLaiyangApril29,20203,553Thursday,April30,3,500Jointliability1114daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd116XinhaoAnimalHusbandryCo.,Ltd2020guaranteeLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,20205,076Thursday,April30,20205,000Jointliabilityguarantee1296daysNoYesLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,20206,091Thursday,April30,20206,000Jointliabilityguarantee1481daysNoYesLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,2020203Thursday,April30,2020200Jointliabilityguarantee1665daysNoYesLaiyangXinhaoAnimalHusbandryCo.,LtdApril29,20201,524Thursday,April30,20201,500Jointliabilityguarantee1814daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,202095Tuesday,May19,202034Jointliabilityguarantee336daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020374Tuesday,May19,2020134Jointliabilityguarantee397daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020466Tuesday,May19,2020167Jointliabilityguarantee580daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020933Tuesday,May19,2020334Jointliabilityguarantee762daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020933Tuesday,May19,2020334Jointliabilityguarantee945daysNoYesShenzeNewHopeLiuheApril29,20201,397Tuesday,May19,2020500Jointliabilityguarantee1127daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd117BreedingCo.,LtdShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,397Tuesday,May19,2020500Jointliabilityguarantee1310daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20202,793Tuesday,May19,20201,000Jointliabilityguarantee1493daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20202,793Tuesday,May19,20201,000Jointliabilityguarantee1676daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20202,793Tuesday,May19,20201,000Jointliabilityguarantee1858daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20202,793Tuesday,May19,20201,000Jointliabilityguarantee2041daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20202,793Tuesday,May19,20201,000Jointliabilityguarantee2223daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20202,793Tuesday,May19,20201,000Jointliabilityguarantee2406daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,863Tuesday,May19,2020667Jointliabilityguarantee2588daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,863Tuesday,May19,2020667Jointliabilityguarantee2771daysNoYesShenzeNewHopeLiuheBreedingCo.,April29,20201,852Tuesday,May19,2020663Jointliabilityguarantee2909daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd118LtdShenzeNewHopeLiuheBreedingCo.,LtdApril29,202037Sunday,June28,202013.33Jointliabilityguarantee296daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020149Sunday,June28,202053.33Jointliabilityguarantee357daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020186Sunday,June28,202066.67Jointliabilityguarantee540daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020372Sunday,June28,2020133.33Jointliabilityguarantee722daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020372Sunday,June28,2020133.33Jointliabilityguarantee905daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020559Sunday,June28,2020200Jointliabilityguarantee1087daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020559Sunday,June28,2020200Jointliabilityguarantee1270daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,117Sunday,June28,2020400Jointliabilityguarantee1453daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,117Sunday,June28,2020400Jointliabilityguarantee1636daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,117Sunday,June28,2020400Jointliabilityguarantee1818daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd119ShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,117Sunday,June28,2020400Jointliabilityguarantee2001daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,117Sunday,June28,2020400Jointliabilityguarantee2183daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,117Sunday,June28,2020400Jointliabilityguarantee2366daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020745Sunday,June28,2020266.67Jointliabilityguarantee2548daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020745Sunday,June28,2020266.67Jointliabilityguarantee2731daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020745Sunday,June28,2020266.67Jointliabilityguarantee2869daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,202036Tuesday,June30,202013Jointliabilityguarantee294daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020145Tuesday,June30,202052Jointliabilityguarantee355daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020182Tuesday,June30,202065Jointliabilityguarantee538daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020363Tuesday,June30,2020130Jointliabilityguarantee720daysNoYesShenzeNewApril29,2020363Tuesday,June30,130Jointliability903daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd120HopeLiuheBreedingCo.,Ltd2020guaranteeShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020545Tuesday,June30,2020195Jointliabilityguarantee1085daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020545Tuesday,June30,2020195Jointliabilityguarantee1268daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,089Tuesday,June30,2020390Jointliabilityguarantee1451daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,089Tuesday,June30,2020390Jointliabilityguarantee1634daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,089Tuesday,June30,2020390Jointliabilityguarantee1816daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,089Tuesday,June30,2020390Jointliabilityguarantee1999daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,089Tuesday,June30,2020390Jointliabilityguarantee2181daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,20201,089Tuesday,June30,2020390Jointliabilityguarantee2364daysNoYesShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020726Tuesday,June30,2020260Jointliabilityguarantee2546daysNoYesShenzeNewHopeLiuheApril29,2020726Tuesday,June30,2020260Jointliabilityguarantee2729daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd121BreedingCo.,LtdShenzeNewHopeLiuheBreedingCo.,LtdApril29,2020733Tuesday,June30,2020260Jointliabilityguarantee2867daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20201,660Thursday,May28,2020453.88Jointliabilityguarantee542daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20201,660Thursday,May28,2020453.92Jointliabilityguarantee723daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee907daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee1088daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee1272daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee1454daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee1638daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee1819daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee2003daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee2184daysNoYesHubeiXinhaoFarmingCo.,LtdApril29,20204,668Thursday,May28,20201,276.65Jointliabilityguarantee2368daysNoYesHubeiXinhaoApril29,20204,668Thursday,May28,1,276.65Jointliability2555daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd122FarmingCo.,Ltd2020guaranteeChangyiXinhaoAnimalHusbandryCo.,LtdApril29,202025Friday,June19,202020Jointliabilityguarantee184daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,202038Friday,June19,202030Jointliabilityguarantee366daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,202063Friday,June19,202050Jointliabilityguarantee549daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,2020125Friday,June19,2020100Jointliabilityguarantee731daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,2020375Friday,June19,2020300Jointliabilityguarantee914daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,20204,375Friday,June19,20203,500Jointliabilityguarantee1092daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,202025Saturday,June20,202020Jointliabilityguarantee183daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,202038Saturday,June20,202030Jointliabilityguarantee365daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,202063Saturday,June20,202050Jointliabilityguarantee548daysNoYesChangyiXinhaoAnimalHusbandryCo.,April29,2020125Saturday,June20,2020100Jointliabilityguarantee730daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd123LtdChangyiXinhaoAnimalHusbandryCo.,LtdApril29,2020375Saturday,June20,2020300Jointliabilityguarantee913daysNoYesChangyiXinhaoAnimalHusbandryCo.,LtdApril29,20204,373Saturday,June20,20203,500Jointliabilityguarantee1091daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee454daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee544daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee634daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee726daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee818daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee909daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee999daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee1091daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee1183daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee1274daysNoYesWulianXinhaoApril29,2020750Wednesday,June237.5Jointliability1365daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd124FarmingCo.,Ltd24,2020guaranteeWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee1457daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee1549daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee1640daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee1730daysNoYesWulianXinhaoFarmingCo.,LtdApril29,2020750Wednesday,June24,2020237.5Jointliabilityguarantee1822daysNoYesJiangyouNewHopeHyporSwineBreedingCo.,LtdApril29,20202,000Monday,June29,20201,000Jointliabilityguarantee364daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20204,002Monday,June29,2020375.17Jointliabilityguarantee539daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20204,000Monday,June29,2020375Jointliabilityguarantee721daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20208,000Monday,June29,2020750Jointliabilityguarantee904daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20208,000Monday,June29,2020750Jointliabilityguarantee1086daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20208,000Monday,June29,2020750Jointliabilityguarantee1269daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd125GansuNewHopeLiuheFarmingCo.,LtdApril29,20208,000Monday,June29,2020750Jointliabilityguarantee1452daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20208,000Monday,June29,2020750Jointliabilityguarantee1635daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20208,000Monday,June29,2020750Jointliabilityguarantee1817daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20208,000Monday,June29,2020750Jointliabilityguarantee2000daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20208,000Monday,June29,2020750Jointliabilityguarantee2182daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20204,000Monday,June29,2020375Jointliabilityguarantee2365daysNoYesGansuNewHopeLiuheFarmingCo.,LtdApril29,20203,998Monday,June29,2020374.83Jointliabilityguarantee2556daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,2020690Tuesday,June30,2020600Jointliabilityguarantee355daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,2020690Tuesday,June30,2020600Jointliabilityguarantee538daysNoYesXinhaoFuchengAgriculturalApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee720daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd126TechnologyCo.,LtdXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee903daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee1085daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee1268daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee1451daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee1634daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee1816daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee1999daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee2181daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd127XinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,20201,264Tuesday,June30,20201,100Jointliabilityguarantee2364daysNoYesXinhaoFuchengAgriculturalTechnologyCo.,LtdApril29,2020980Tuesday,June30,2020850Jointliabilityguarantee2546daysNoYesGuangyuanXinhaoAgriculturalDevelopmentCo.,LtdApril29,20201,000Tuesday,June30,2020300Jointliabilityguarantee729daysNoYesGuangyuanXinhaoAgriculturalDevelopmentCo.,LtdApril29,20201,500Tuesday,June30,2020450Jointliabilityguarantee1094daysNoYesGuangyuanXinhaoAgriculturalDevelopmentCo.,LtdApril29,20201,500Tuesday,June30,2020450Jointliabilityguarantee1460daysNoYesGuangyuanXinhaoAgriculturalDevelopmentCo.,LtdApril29,20201,500Tuesday,June30,2020450Jointliabilityguarantee1825daysNoYesGuangyuanXinhaoAgriculturalDevelopmentCo.,LtdApril29,20201,500Tuesday,June30,2020450Jointliabilityguarantee2190daysNoYesGuangyuanXinhaoAgriculturalDevelopmentCo.,LtdApril29,20201,000Tuesday,June30,2020300Jointliabilityguarantee2555daysNoYesGuangyuanXinhaoApril29,20201,000Tuesday,June30,2020300Jointliabilityguarantee2921daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd128AgriculturalDevelopmentCo.,LtdGuangyuanXinhaoAgriculturalDevelopmentCo.,LtdApril29,20201,000Tuesday,June30,2020300Jointliabilityguarantee3286daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee429daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee612daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee794daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee977daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee1159daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee1342daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee1525daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee1708daysNoYesLaixiNewOctober25,2019644Friday,April17,35Jointliability1890daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd129HopeLiuheFarmingCo.,Ltd2020guaranteeLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee2073daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee2255daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee2438daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee2620daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee2803daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee2986daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee3169daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee3351daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdOctober25,2019644Friday,April17,202035Jointliabilityguarantee3534daysNoYesLaixiNewHopeLiuheOctober25,201976,192Friday,April17,20204,141.6Jointliabilityguarantee3644daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd130FarmingCo.,LtdLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee404daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee587daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee769daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee952daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee1134daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee1317daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee1500daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee1683daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee1865daysNoYesLaixiNewHopeLiuheFarmingCo.,April29,2020460Tuesday,May12,202025Jointliabilityguarantee2048daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd131LtdLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee2230daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee2413daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee2595daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee2778daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee2961daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee3144daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee3326daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,2020460Tuesday,May12,202025Jointliabilityguarantee3509daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202047,100Tuesday,May12,20202,560.2Jointliabilityguarantee3619daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee363daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd132LaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee546daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee728daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee911daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee1093daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee1276daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee1459daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee1642daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee1824daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee2007daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee2189daysNoYesLaixiNewApril29,202092Monday,June22,5Jointliability2372daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd133HopeLiuheFarmingCo.,Ltd2020guaranteeLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee2554daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee2737daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee2920daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee3103daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee3285daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Monday,June22,20205Jointliabilityguarantee3468daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,20201,816Monday,June22,202098.73Jointliabilityguarantee3578daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee357daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee540daysNoYesLaixiNewHopeLiuheApril29,202092Sunday,June28,20205Jointliabilityguarantee722daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd134FarmingCo.,LtdLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee905daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee1087daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee1270daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee1453daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee1636daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee1818daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee2001daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee2183daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee2366daysNoYesLaixiNewHopeLiuheFarmingCo.,April29,202092Sunday,June28,20205Jointliabilityguarantee2548daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd135LtdLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee2731daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee2914daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee3097daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee3279daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202092Sunday,June28,20205Jointliabilityguarantee3462daysNoYesLaixiNewHopeLiuheFarmingCo.,LtdApril29,202051,708Sunday,June28,20202,810.92Jointliabilityguarantee3572daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee396daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee579daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee761daysNoYesWuheNewApril29,202012Wednesday,May5Jointliability944daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd136HopeLiuheAnimalHusbandryCo.,Ltd20,2020guaranteeWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee1126daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee1309daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee1492daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee1675daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee1857daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee2040daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012Wednesday,May20,20205Jointliabilityguarantee2222daysNoYesWuheNewHopeLiuheAnimalApril29,202012Wednesday,May20,20205Jointliabilityguarantee2405daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd137HusbandryCo.,LtdWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20206,224Wednesday,May20,20202,693.35Jointliabilityguarantee2547daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee394daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee577daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee759daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee942daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee1124daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee1307daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee1490daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd138WuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee1673daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee1855daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee2038daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee2220daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20204,121Friday,May22,20201,783.5Jointliabilityguarantee2403daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,202012,364Friday,May22,20205,350.51Jointliabilityguarantee2548daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20201,477Thursday,June04,2020639.37Jointliabilityguarantee547daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20201,477Thursday,June04,2020639.37Jointliabilityguarantee729daysNoYesWuheNewHopeLiuheApril29,20201,477Thursday,June04,2020639.37Jointliabilityguarantee912daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd139AnimalHusbandryCo.,LtdWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20201,477Thursday,June04,2020639.37Jointliabilityguarantee1094daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20201,477Thursday,June04,2020639.37Jointliabilityguarantee1277daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20201,477Thursday,June04,2020639.37Jointliabilityguarantee1460daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20201,477Thursday,June04,2020639.37Jointliabilityguarantee1643daysNoYesWuheNewHopeLiuheAnimalHusbandryCo.,LtdApril29,20201,477Thursday,June04,2020639.37Jointliabilityguarantee1825daysNoYesRugaoXinhaoFarmingCo.,LtdApril29,20205,000Wednesday,May20,20204,000Jointliabilityguarantee364daysNoYesDonghaiXinhaoFarmingCo.,LtdOctober25,201950,000Monday,April27,20203,000Jointliabilityguarantee364daysNoYesAnyueNewHopeLiuheFarmingCo.,LtdApril29,202020,000Thursday,June11,20205,000Jointliabilityguarantee364daysNoYesHainanChangjiangXinliuOctober25,2019500Tuesday,March31,2020350Jointliabilityguarantee366daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd140BreedingCo.,LtdHainanChangjiangXinliuBreedingCo.,LtdOctober25,2019500Tuesday,March31,2020350Jointliabilityguarantee599daysNoYesHainanChangjiangXinliuBreedingCo.,LtdOctober25,20191,000Tuesday,March31,2020700Jointliabilityguarantee780daysNoYesHainanChangjiangXinliuBreedingCo.,LtdOctober25,20191,000Tuesday,March31,2020700Jointliabilityguarantee964daysNoYesHainanChangjiangXinliuBreedingCo.,LtdOctober25,20191,000Tuesday,March31,2020700Jointliabilityguarantee1145daysNoYesHainanChangjiangXinliuBreedingCo.,LtdOctober25,20191,000Tuesday,March31,2020700Jointliabilityguarantee1329daysNoYesHainanChangjiangXinliuBreedingCo.,LtdOctober25,20191,000Tuesday,March31,2020700Jointliabilityguarantee1511daysNoYesHainanChangjiangXinliuBreedingCo.,LtdOctober25,20191,000Tuesday,March31,2020700Jointliabilityguarantee1695daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,2019588Friday,March27,2020500Jointliabilityguarantee366daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd141HainanLingaoXinliuBreedingCo.,LtdOctober25,2019588Friday,March27,2020500Jointliabilityguarantee603daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,20191,176Friday,March27,20201,000Jointliabilityguarantee784daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,20191,176Friday,March27,20201,000Jointliabilityguarantee968daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,20191,176Friday,March27,20201,000Jointliabilityguarantee1149daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,20191,176Friday,March27,20201,000Jointliabilityguarantee1333daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,20191,176Friday,March27,20201,000Jointliabilityguarantee1515daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,20191,176Friday,March27,20201,000Jointliabilityguarantee1699daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,20191,176Friday,March27,20201,000Jointliabilityguarantee1880daysNoYesHainanLingaoXinliuBreedingCo.,LtdOctober25,2019592Friday,March27,2020500Jointliabilityguarantee2064daysNoYesYanglingBesunAgriculturalIndustryGroupCo.,LtdApril26,20191,000Tuesday,September24,2019500Jointliabilityguarantee362daysNoYesYanglingBesunApril26,20191,000Tuesday,500Jointliability453daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd142AgriculturalIndustryGroupCo.,LtdSeptember24,2019guaranteeYanglingBesunAgriculturalIndustryGroupCo.,LtdApril26,20191,000Tuesday,September24,2019500Jointliabilityguarantee635daysNoYesYanglingBesunAgriculturalIndustryGroupCo.,LtdApril26,20191,000Tuesday,September24,2019500Jointliabilityguarantee818daysNoYesYanglingBesunAgriculturalIndustryGroupCo.,LtdApril26,20192,000Tuesday,September24,20191,000Jointliabilityguarantee1000daysNoYesYanglingBesunAgriculturalIndustryGroupCo.,LtdApril26,20192,000Tuesday,September24,20191,000Jointliabilityguarantee1183daysNoYesYanglingBesunAgriculturalIndustryGroupCo.,LtdApril26,20192,000Tuesday,September24,20191,000Jointliabilityguarantee1365daysNoYesYanglingBesunAgriculturalIndustryGroupCo.,LtdApril26,20192,000Tuesday,September24,20191,000Jointliabilityguarantee1548daysNoYesYanglingBesunAgriculturalIndustryGroupCo.,LtdApril26,20198,000Tuesday,September24,20194,000Jointliabilityguarantee1826daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019550Friday,November15,2019550Jointliabilityguarantee730daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019600Friday,November15,2019600Jointliabilityguarantee917daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019600Friday,November15,2019600Jointliabilityguarantee1101daysNoYesYijunXinliuOctober25,2019650Friday,November650Jointliability1282daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd143TechnologyCo.,Ltd15,2019guaranteeYijunXinliuTechnologyCo.,LtdOctober25,2019650Friday,November15,2019650Jointliabilityguarantee1466daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019800Friday,November15,2019800Jointliabilityguarantee1648daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019800Friday,November15,2019800Jointliabilityguarantee1832daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019800Friday,November15,2019800Jointliabilityguarantee2013daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019800Friday,November15,2019800Jointliabilityguarantee2197daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019900Friday,November15,2019900Jointliabilityguarantee2378daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019900Friday,November15,2019900Jointliabilityguarantee2562daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019950Friday,November15,2019950Jointliabilityguarantee2743daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019950Friday,November15,2019950Jointliabilityguarantee2927daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019900Friday,November15,2019900Jointliabilityguarantee3109daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019900Friday,November15,2019900Jointliabilityguarantee3293daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019800Friday,November15,2019800Jointliabilityguarantee3474daysNoYesYijunXinliuTechnologyOctober25,2019650Friday,November15,2019650Jointliabilityguarantee3658daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd144Co.,LtdYijunXinliuTechnologyCo.,LtdOctober25,2019150Sunday,January19,2020150Jointliabilityguarantee3593daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019800Sunday,January19,2020800Jointliabilityguarantee3774daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019800Sunday,January19,2020800Jointliabilityguarantee3958daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019800Sunday,January19,2020800Jointliabilityguarantee4139daysNoYesYijunXinliuTechnologyCo.,LtdOctober25,2019750Sunday,January19,2020750Jointliabilityguarantee4317daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Tuesday,December24,20191,000Jointliabilityguarantee730daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Tuesday,December24,20191,000Jointliabilityguarantee878daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Tuesday,December24,20191,000Jointliabilityguarantee1062daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Tuesday,December24,20191,000Jointliabilityguarantee1243daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,276Tuesday,December24,20191,250Jointliabilityguarantee1427daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,201951Monday,December02,201950Jointliabilityguarantee1449daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Monday,December02,20191,300Jointliabilityguarantee1631daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Monday,December02,20191,300Jointliabilityguarantee1815daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd145WeinanXinliuTechnologyCo.,LtdOctober25,20191,327Monday,December02,20191,300Jointliabilityguarantee1996daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,531Monday,December02,20191,500Jointliabilityguarantee2180daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,531Monday,December02,20191,500Jointliabilityguarantee2361daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,201951Monday,December02,201950Jointliabilityguarantee2545daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,276Tuesday,December17,20191,250Jointliabilityguarantee2530daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Tuesday,December17,20191,300Jointliabilityguarantee2711daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,224Tuesday,December17,20191,200Jointliabilityguarantee2895daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,224Tuesday,December17,20191,200Jointliabilityguarantee3077daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,122Tuesday,December17,20191,100Jointliabilityguarantee3261daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,122Tuesday,December17,20191,100Jointliabilityguarantee3442daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,122Tuesday,December17,20191,100Jointliabilityguarantee3626daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Tuesday,December17,20191,000Jointliabilityguarantee3807daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Tuesday,December17,20191,000Jointliabilityguarantee3991daysNoYesWeinanXinliuOctober25,20191,020Tuesday,1,000Jointliability4172daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd146TechnologyCo.,LtdDecember17,2019guaranteeWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Tuesday,December17,20191,000Jointliabilityguarantee4389daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Thursday,January02,20201,000Jointliabilityguarantee730daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Thursday,January02,20201,000Jointliabilityguarantee869daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Thursday,January02,20201,000Jointliabilityguarantee1053daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Thursday,January02,20201,000Jointliabilityguarantee1234daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Thursday,January02,20201,300Jointliabilityguarantee1418daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Thursday,January02,20201,300Jointliabilityguarantee1600daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Thursday,January02,20201,300Jointliabilityguarantee1784daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Thursday,January02,20201,300Jointliabilityguarantee1965daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,531Thursday,January02,20201,500Jointliabilityguarantee2149daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Thursday,January02,20201,300Jointliabilityguarantee2330daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,2019204Thursday,January02,2020200Jointliabilityguarantee2330daysNoYesWeinanXinliuTechnologyOctober25,20191,327Thursday,January02,20201,300Jointliabilityguarantee2514daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd147Co.,LtdWeinanXinliuTechnologyCo.,LtdOctober25,20191,327Thursday,January02,20201,300Jointliabilityguarantee2695daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,2019204Thursday,January02,2020200Jointliabilityguarantee2879daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Sunday,January19,20201,000Jointliabilityguarantee2862daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,2019918Sunday,January19,2020900Jointliabilityguarantee3044daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,2019306Sunday,January19,2020300Jointliabilityguarantee3044daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,122Sunday,January19,20201,100Jointliabilityguarantee3228daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,122Sunday,January19,20201,100Jointliabilityguarantee3409daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,122Sunday,January19,20201,100Jointliabilityguarantee3593daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Sunday,January19,20201,000Jointliabilityguarantee3774daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Sunday,January19,20201,000Jointliabilityguarantee3958daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,20191,020Sunday,January19,20201,000Jointliabilityguarantee4139daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,2019510Sunday,January19,2020500Jointliabilityguarantee4323daysNoYesWeinanXinliuTechnologyCo.,LtdOctober25,2019514Sunday,January19,2020500Jointliabilityguarantee4365daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd148NanningWumingDistrictXinliuFarmingTechnologyCo.,LtdApril29,202035,000Tuesday,June16,20205,000Jointliabilityguarantee365daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,2020400Friday,May22,2020400Jointliabilityguarantee91daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,2020400Friday,May22,2020400Jointliabilityguarantee183daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,2020600Friday,May22,2020600Jointliabilityguarantee275daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,2020600Friday,May22,2020600Jointliabilityguarantee364daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,2020600Friday,May22,2020600Jointliabilityguarantee456daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,2020600Friday,May22,2020600Jointliabilityguarantee548daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,2020800Friday,May22,2020800Jointliabilityguarantee640daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,2020800Friday,May22,2020800Jointliabilityguarantee729daysNoYesDongeNewHopeLiuheSwineBreedingApril29,20201,000Friday,May22,20201,000Jointliabilityguarantee821daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd149Co.,LtdDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,000Friday,May22,20201,000Jointliabilityguarantee913daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,000Friday,May22,20201,000Jointliabilityguarantee1005daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,000Friday,May22,20201,000Jointliabilityguarantee1094daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,000Friday,May22,20201,000Jointliabilityguarantee1186daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,000Friday,May22,20201,000Jointliabilityguarantee1278daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,000Friday,May22,20201,000Jointliabilityguarantee1370daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,000Friday,May22,20201,000Jointliabilityguarantee1460daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,600Friday,May22,20201,600Jointliabilityguarantee1552daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20201,600Friday,May22,20201,600Jointliabilityguarantee1644daysNoYesDongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20202,000Friday,May22,20202,000Jointliabilityguarantee1736daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd150DongeNewHopeLiuheSwineBreedingCo.,LtdApril29,20202,000Friday,May22,20202,000Jointliabilityguarantee1825daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020200Tuesday,May19,2020200Jointliabilityguarantee729daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020300Tuesday,May19,2020300Jointliabilityguarantee1094daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020300Tuesday,May19,2020300Jointliabilityguarantee1460daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020300Tuesday,May19,2020300Jointliabilityguarantee1825daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020300Tuesday,May19,2020300Jointliabilityguarantee2190daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020200Tuesday,May19,2020200Jointliabilityguarantee2555daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020200Tuesday,May19,2020200Jointliabilityguarantee2921daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020200Tuesday,May19,2020200Jointliabilityguarantee3286daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020600Thursday,May21,2020600Jointliabilityguarantee729daysNoYesHengnanApril29,2020900Thursday,May21,900Jointliability1094daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd151MuyunEco-agricultureCo.,Ltd2020guaranteeHengnanMuyunEco-agricultureCo.,LtdApril29,2020900Thursday,May21,2020900Jointliabilityguarantee1460daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020900Thursday,May21,2020900Jointliabilityguarantee1825daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020900Thursday,May21,2020900Jointliabilityguarantee2190daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020600Thursday,May21,2020600Jointliabilityguarantee2555daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020600Thursday,May21,2020600Jointliabilityguarantee2921daysNoYesHengnanMuyunEco-agricultureCo.,LtdApril29,2020600Thursday,May21,2020600Jointliabilityguarantee3286daysNoYesBijieXinliuFarmingCo.,LtdApril29,20201,056Tuesday,May19,2020880Jointliabilityguarantee364daysNoYesBijieXinliuFarmingCo.,LtdApril29,20201,584Tuesday,May19,20201,320Jointliabilityguarantee729daysNoYesBijieXinliuFarmingCo.,LtdApril29,20201,584Tuesday,May19,20201,320Jointliabilityguarantee1094daysNoYesBijieXinliuFarmingCo.,LtdApril29,20201,584Tuesday,May19,20201,320Jointliabilityguarantee1460daysNoYesBijieXinliuFarmingCo.,April29,20201,584Tuesday,May19,20201,320Jointliabilityguarantee1825daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd152LtdBijieXinliuFarmingCo.,LtdApril29,20201,056Tuesday,May19,2020880Jointliabilityguarantee2190daysNoYesBijieXinliuFarmingCo.,LtdApril29,20201,056Tuesday,May19,2020880Jointliabilityguarantee2555daysNoYesBijieXinliuFarmingCo.,LtdApril29,20201,056Tuesday,May19,2020880Jointliabilityguarantee2921daysNoYesBeijingXinliuFarmingTechnologyCo.,LtdApril29,20203,818Tuesday,June30,20201,500Jointliabilityguarantee548daysNoYesBeijingXinliuFarmingTechnologyCo.,LtdApril29,20203,818Tuesday,June30,20201,500Jointliabilityguarantee730daysNoYesBeijingXinliuFarmingTechnologyCo.,LtdApril29,20204,582Tuesday,June30,20201,800Jointliabilityguarantee913daysNoYesBeijingXinliuFarmingTechnologyCo.,LtdApril29,20204,582Tuesday,June30,20201,800Jointliabilityguarantee1095daysNoYesBeijingXinliuFarmingTechnologyCo.,LtdApril29,20205,345Tuesday,June30,20202,100Jointliabilityguarantee1278daysNoYesBeijingXinliuFarmingTechnologyCo.,LtdApril29,20205,345Tuesday,June30,20202,100Jointliabilityguarantee1461daysNoYesBeijingXinliuFarmingTechnologyCo.,LtdApril29,2020510Tuesday,June30,2020200Jointliabilityguarantee1644daysNoYesJiaxiangNewHopeLiuheSwineBreedingApril29,2020940Wednesday,June24,2020700Jointliabilityguarantee149daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd153Co.,LtdJiaxiangNewHopeLiuheSwineBreedingCo.,LtdApril29,2020940Wednesday,June24,2020700Jointliabilityguarantee330daysNoYesJiaxiangNewHopeLiuheSwineBreedingCo.,LtdApril29,20202,821Wednesday,June24,20202,100Jointliabilityguarantee514daysNoYesJiaxiangNewHopeLiuheSwineBreedingCo.,LtdApril29,20202,821Wednesday,June24,20202,100Jointliabilityguarantee695daysNoYesJiaxiangNewHopeLiuheSwineBreedingCo.,LtdApril29,20204,701Wednesday,June24,20203,500Jointliabilityguarantee879daysNoYesJiaxiangNewHopeLiuheSwineBreedingCo.,LtdApril29,20204,701Wednesday,June24,20203,500Jointliabilityguarantee1060daysNoYesJiaxiangNewHopeLiuheSwineBreedingCo.,LtdApril29,2020940Wednesday,June24,2020700Jointliabilityguarantee1244daysNoYesJiaxiangNewHopeLiuheSwineBreedingCo.,LtdApril29,2020136Wednesday,June24,2020100Jointliabilityguarantee1447daysNoYesHebeiKingheyMeatIndustryCo.,LtdApril26,201930,000Wednesday,April01,202015,000Jointliabilityguarantee364daysNoYesLiaoningKingheyFoodCo.,LtdApril26,20195,000Wednesday,August07,20195,000Jointliabilityguarantee365daysNoYesBeijingKingheyFoodCo.,LtdApril26,201915,625Wednesday,March04,202010,000Jointliabilityguarantee365daysNoYesBeijingKingheyFoodCo.,LtdApril26,20194,688Wednesday,March18,20203,000Jointliabilityguarantee364daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd154BeijingKingheyFoodCo.,LtdApril29,2020195Friday,June12,2020125Jointliabilityguarantee536daysNoYesBeijingKingheyFoodCo.,LtdApril29,2020195Friday,June12,2020125Jointliabilityguarantee718daysNoYesBeijingKingheyFoodCo.,LtdApril29,2020781Friday,June12,2020500Jointliabilityguarantee901daysNoYesBeijingKingheyFoodCo.,LtdApril29,2020781Friday,June12,2020500Jointliabilityguarantee1083daysNoYesBeijingKingheyFoodCo.,LtdApril29,20201,367Friday,June12,2020875Jointliabilityguarantee1266daysNoYesBeijingKingheyFoodCo.,LtdApril29,20201,368Friday,June12,2020875Jointliabilityguarantee1449daysNoYesChongqingGuoxiongFeedCo.,LtdApril29,20204,000Thursday,April16,20203,000Jointliabilityguarantee364daysNoYesChongqingNewHopeFeedCo.,LtdApril29,20206,000Wednesday,April08,20205,000Jointliabilityguarantee365daysNoYesChongqingNewHopeFeedCo.,LtdApril29,20206,000Thursday,April23,20205,000Jointliabilityguarantee365daysNoYesNingxiaNewHopeRuminantAnimalNutritiousFoodCo.,LtdApril29,20206,000Friday,May29,20205,000Jointliabilityguarantee365daysNoYesNanningNewHopeFarmingTechnologyCo.,LtdApril29,20206,667Friday,May22,20205,000Jointliabilityguarantee362daysNoYesNanningNewHopeFarmingTechnologyCo.,LtdApril29,202013,333Tuesday,June23,202010,000Jointliabilityguarantee330daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd155LiuheFeed(Huaian)Co.,LtdApril29,202050,000Thursday,June18,20202,500Jointliabilityguarantee350daysNoYesYanshiLiuheFeedCo.,LtdOctober25,20194,000Tuesday,March24,20204,000Jointliabilityguarantee365daysNoYesAnyangNewHopeLiuheFeedCo.,LtdOctober25,20192,000Monday,April27,20202,000Jointliabilityguarantee365daysNoYesGushiLiuheCo,LtdApril29,20209,000Thursday,April30,20202,600Jointliabilityguarantee365daysNoYesJiangmenLiuheFeedCo.,LtdApril26,201910,000Thursday,February20,202010,000Jointliabilityguarantee365daysNoYesGuangzhouLiuheFeedCo.,LtdApril26,201910,000Friday,February21,20206,000Jointliabilityguarantee366daysNoYesXiantaoLiuheFeedCo.,LtdApril29,2020900Wednesday,March18,2020900Jointliabilityguarantee364daysNoYesXiantaoLiuheFeedCo.,LtdApril29,202011,000Wednesday,March25,20201,100Jointliabilityguarantee364daysNoYesXiangyangNewHopeLiuheFeedCo.,LtdApril29,20202,000Thursday,March26,2020900Jointliabilityguarantee364daysNoYesXiangyangNewHopeLiuheFeedCo.,LtdApril29,20202,000Tuesday,April14,2020900Jointliabilityguarantee367daysNoYesHubeiTuanfengNewHopeFeedCo.,LtdApril29,20201,000Tuesday,March17,20201,000Jointliabilityguarantee364daysNoYesHubeiTuanfengNewHopeFeedCo.,LtdApril29,20202,000Thursday,March19,20202,000Jointliabilityguarantee364daysNoYesHuanggangNewHopeFeedTechnologyCo.,LtdApril29,20201,875Monday,March16,20201,500Jointliabilityguarantee364daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd156HuanggangNewHopeFeedTechnologyCo.,LtdApril29,20203,125Tuesday,March24,20202,500Jointliabilityguarantee364daysNoYesJinzhouNewHopeFeedCo.,LtdApril29,2020686Sunday,March15,2020600Jointliabilityguarantee364daysNoYesJinzhouNewHopeFeedCo.,LtdApril29,20202,629Friday,March20,20202,300Jointliabilityguarantee364daysNoYesJinzhouNewHopeFeedCo.,LtdApril29,2020685Monday,April13,2020600Jointliabilityguarantee364daysNoYesShandongNewHopeLiuheGroupCo.,LtdOctober25,201971,429Friday,November22,201910,000Jointliabilityguarantee730daysNoYesShandongNewHopeLiuheGroupCo.,LtdApril29,202028,571Wednesday,April29,20204,000Jointliabilityguarantee1095daysNoYesJiangxiNewHopeFarmingTechnologyCo.,LtdApril29,202010,000Tuesday,June30,20202,000Jointliabilityguarantee365daysNoYesLhasaNewHopeIndustrialCo.,LtdApril26,20196,750Friday,December20,2019297JointliabilityguaranteeOneyearNoYesLhasaNewHopeIndustrialCo.,LtdApril26,20193,250Monday,December23,2019143JointliabilityguaranteeOneyearNoYesAnyangNewHopeLiuheFeedCo.,LtdApril01,20202,000Thursday,April30,202047.67JointliabilityguaranteeOneyearNoYesGushiLiuheCo,LtdApril01,2020500Thursday,April30,202020.74JointliabilityguaranteeOneyearNoYesKunmingNewHopeAnimalNutritiousFoodCo.,LtdApril01,20201,500Thursday,April30,202071.83JointliabilityguaranteeOneyearNoYesMangshiNewHopeFarmingApril01,2020500Thursday,April30,11.57JointliabilityOneyearNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd157TechnologyCo.,Ltd2020guaranteeKunmingNewHopeAgriculturalTechnologyCo.,LtdApril01,20203,000Thursday,April30,202053.57JointliabilityguaranteeOneyearNoYesTangshanNewHopeLiuheFeedCo.,LtdApril01,2020512Thursday,April30,202010.13JointliabilityguaranteeOneyearNoYesHebeiNewHopeFeedCo.,LtdApril01,2020600Thursday,April30,20209.06JointliabilityguaranteeOneyearNoYesShanxianLiuheFeedCo.,LtdApril01,2020705Thursday,April30,202017.28JointliabilityguaranteeOneyearNoYesChangchunNewHopeFeedCo.,LtdApril01,20202,000Thursday,April30,202091.24JointliabilityguaranteeOneyearNoYesHarbinLiuheHexinFeedCo.,LtdApril01,2020500Thursday,April30,20209.25JointliabilityguaranteeOneyearNoYesDaqingLiuheFeedCo.,LtdApril01,20202,000Thursday,April30,2020141.78JointliabilityguaranteeOneyearNoYesErmeishanNewHopeLiuheFeedCo.,LtdApril01,20201,000Thursday,April30,202039.71JointliabilityguaranteeOneyearNoYesGuanghanGuoxiongFeedCo.,LtdApril01,2020800Thursday,April30,2020279.59JointliabilityguaranteeOneyearNoYesXuanchengLiuheFeedCo.,LtdApril01,2020350Thursday,April30,202072.86JointliabilityguaranteeOneyearNoYesFuyangLiuheFeedCo.,LtdApril01,2020600Thursday,April30,2020454.45JointliabilityguaranteeOneyearNoYesMaomingLiuheFeedCo.,LtdApril01,20202,000Thursday,April30,2020149.67JointliabilityguaranteeOneyearNoYesJieyangGuoxiongFeedCo.,LtdApril01,20205,000Thursday,April30,2020172.64JointliabilityguaranteeOneyearNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd158ZhanjiangGuoxiongFeedCo.,LtdApril01,20205,000Thursday,April30,2020258.24JointliabilityguaranteeOneyearNoYesNanningGuoxiongScienceandTechnologyCo.,LtdApril01,20201,000Thursday,April30,202077.95JointliabilityguaranteeOneyearNoYesNanningNewHopeFarmingTechnologyCo.,LtdApril01,20201,800Thursday,April30,2020427.41JointliabilityguaranteeOneyearNoYesWuzhouNewHopeLiuheFeedCo.,LtdApril01,20202,463Thursday,April30,2020552.96JointliabilityguaranteeOneyearNoYesGuangshuiGuangheFarmingDevelopmentCo.,LtdApril01,2020500Thursday,April30,20207.5JointliabilityguaranteeOneyearNoYesJuxianLiuheXingrunFeedCo.,LtdApril01,2020500Thursday,April30,202010.86JointliabilityguaranteeOneyearNoYesWudiLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202014.94JointliabilityguaranteeOneyearNoYesQingyunLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202014.63JointliabilityguaranteeOneyearNoYesBinzhouLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202031.3JointliabilityguaranteeOneyearNoYesYanchengLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202046.98JointliabilityguaranteeOneyearNoYesSheyangLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202058.54JointliabilityguaranteeOneyearNoYesLiuheFeed(Huaian)Co.,LtdApril01,2020500Thursday,April30,202022.85JointliabilityguaranteeOneyearNoYesNantongNewHopeFeedCo.,LtdApril01,2020500Thursday,April30,202018.12JointliabilityguaranteeOneyearNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd159XuzhouHaikuoLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202026.24JointliabilityguaranteeOneyearNoYesTaizhouNewHopeAgricultureCo.,LtdApril01,2020500Thursday,April30,202064.96JointliabilityguaranteeOneyearNoYesJiangxiNewHopeFarmingTechnologyCo.,LtdApril01,20206,035Thursday,April30,2020385.28JointliabilityguaranteeOneyearNoYesYingtanNewHopeFeedCo.,LtdApril01,20205,000Thursday,April30,2020224.85JointliabilityguaranteeOneyearNoYesYichunNewHopeFarmingTechnologyCo.,LtdApril01,20202,000Thursday,April30,202070.7JointliabilityguaranteeOneyearNoYesHainanDengmaiNewHopeFarmingCo.,LtdApril01,20203,546Thursday,April30,202060.21JointliabilityguaranteeOneyearNoYesXiangyangNewHopeLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202043.85JointliabilityguaranteeOneyearNoYesJinzhouNewHopeFeedCo.,LtdApril01,2020450Thursday,April30,2020286.39JointliabilityguaranteeOneyearNoYesHuanggangNewHopeFeedTechnologyCo.,LtdApril01,2020800Thursday,April30,202028.5JointliabilityguaranteeOneyearNoYesYiyangNewHopeFeedCo.,LtdApril01,20201,100Thursday,April30,2020107.65JointliabilityguaranteeOneyearNoYesHuaihuaNewHopeLiuheFeedCo.,LtdApril01,2020800Thursday,April30,202047.29JointliabilityguaranteeOneyearNoYesChenzhouApril01,20201,200Thursday,April30,247.71JointliabilityOneyearNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd160HopeFeedCo.,Ltd2020guaranteeChangyiLiuheXinrongFeedCo.,LtdApril01,2020500Thursday,April30,20200.01JointliabilityguaranteeOneyearNoYesZhuchengNewHopeLiuheFeedCo.,LtdApril01,2020500Thursday,April30,20201.22JointliabilityguaranteeOneyearNoYesWeifangLiuheFeedCo.,LtdApril01,20202,400Thursday,April30,2020703.57JointliabilityguaranteeOneyearNoYesSanyuanNewHopeFeedCo.,LtdApril01,2020600Thursday,April30,202071.46JointliabilityguaranteeOneyearNoYesLiaochengLiuheFeedCo.,LtdApril01,2020600Thursday,April30,2020100.63JointliabilityguaranteeOneyearNoYesJuyeLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202018.4JointliabilityguaranteeOneyearNoYesAnshanLiuheRentaiFeedCo.,LtdApril01,20202,000Thursday,April30,202095.86JointliabilityguaranteeOneyearNoYesShouguangLiuheDingtaiFeedCo.,LtdApril01,2020500Thursday,April30,202039.48JointliabilityguaranteeOneyearNoYesAnqiuLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202018.4JointliabilityguaranteeOneyearNoYesLaiyangNewHopeLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202036.25JointliabilityguaranteeOneyearNoYesWendengLiuheFeedCo.,LtdApril01,20206,000Thursday,April30,20202.04JointliabilityguaranteeOneyearNoYesQingdaoLiuheFeedCo.,LtdApril01,2020511Thursday,April30,202017.33JointliabilityguaranteeOneyearNoYesLaiyangLiuheFeedCo.,LtdApril01,20202,004Thursday,April30,202038.05JointliabilityguaranteeOneyearNoYesHaiyangNewHopeLiuheFeedCo.,LtdApril01,2020500Thursday,April30,20206.27JointliabilityguaranteeOneyearNoYesYantaiLiuheFeedCo.,LtdApril01,2020500Thursday,April30,20201.69JointliabilityguaranteeOneyearNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd161LiuheFeed(Feicheng)Co.,LtdApril01,2020500Thursday,April30,202018.39JointliabilityguaranteeOneyearNoYesZouchengNewHopeLiuheFeedCo.,LtdApril01,2020600Thursday,April30,202020.58JointliabilityguaranteeOneyearNoYesGuiyangNewHopeAgriculturalTechnologyCo.,LtdApril01,20201,150Thursday,April30,202071.41JointliabilityguaranteeOneyearNoYesZunyiJiahaoFeedCo.,LtdApril01,2020500Thursday,April30,2020213.08JointliabilityguaranteeOneyearNoYesQiandongnanNewHopeFarmingTechnologyCo.,LtdApril01,2020500Thursday,April30,202028.74JointliabilityguaranteeOneyearNoYesShenyangNewHopeFarmingTechnologyCo.,LtdApril01,2020500Thursday,April30,2020112.9JointliabilityguaranteeOneyearNoYesChangtuLiuheFarmingCo.,LtdApril01,2020500Thursday,April30,202068.07JointliabilityguaranteeOneyearNoYesPanjinLiuheFarmingCo.,LtdFeedBranchApril01,2020600Thursday,April30,202029.8JointliabilityguaranteeOneyearNoYesChongqingNewHopeFeedCo.,LtdApril01,2020500Thursday,April30,202070.9JointliabilityguaranteeOneyearNoYesNanchongNewHopeFeedCo.,LtdApril01,2020500Thursday,April30,202024.47JointliabilityguaranteeOneyearNoYesWulongNewHopeLiuheFeedCo.,LtdApril01,2020500Thursday,April30,20202.08JointliabilityguaranteeOneyearNoYesBaojiNewHopeFarmingCo.,LtdApril01,2020500Thursday,April30,202097.21JointliabilityguaranteeOneyearNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd162WeifangNewHopeLiuheFeedTechnologyCo.,LtdApril01,20201,500Thursday,April30,202015.07JointliabilityguaranteeOneyearNoYesBeijingNewHopeFarmingTechnologyCo.,LtdApril01,20202,000Thursday,April30,20208.47JointliabilityguaranteeOneyearNoYesYishuiLiuheFeedCo.,LtdApril01,2020500Thursday,April30,2020457.26JointliabilityguaranteeOneyearNoYesZaozhuangNewHopeLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202034.16JointliabilityguaranteeOneyearNoYesLinyiNewHopeLiuheFeedCo.,LtdApril01,2020800Thursday,April30,202017.53JointliabilityguaranteeOneyearNoYesGuangzhouLiuheFeedCo.,LtdApril01,202010,000Thursday,April30,2020720.05JointliabilityguaranteeOneyearNoYesJiangmenLiuheFeedCo.,LtdApril01,202010,000Thursday,April30,2020454.66JointliabilityguaranteeOneyearNoYesLinmuLiuheFeedCo.,LtdApril01,2020500Thursday,April30,202025.33JointliabilityguaranteeOneyearNoYesYinanLiuheZhengzhuangFeedCo.,LtdApril01,20201,606Thursday,April30,2020136.22JointliabilityguaranteeOneyearNoYesDezhouLiuheTian’enFeedCo.,LtdApril01,20201,200Thursday,April30,202015.99JointliabilityguaranteeOneyearNoYesTaianLiuheJingweiFarmingCo.,Ltd’sFeedPlantApril01,2020600Thursday,April30,202056.41JointliabilityguaranteeOneyearNoYesHenanLiuheBeixuFeedCo.,LtdApril01,20203,000Thursday,April30,202011.29JointliabilityguaranteeOneyearNoYesTotalguaranteeamounttosubsidiariesapprovedduringthe1,257,432Totalamountofguaranteesto840,969.09Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd163reportingperiod(B1)subsidiariesactuallyincurredduringthereportingperiod(B2)Totalguaranteeamounttosubsidiariesapprovedattheendofthereportingperiod(B3)2,765,893Totalactualbalanceofguaranteestosubsidiariesattheendofreportingperiod(B4)991,447.72GuaranteesprovidedbysubsidiariesforsubsidiariesNameofguaranteebeneficiaryDateofrelatedannouncementanddisclosureofguaranteedamountGuaranteedamountDateactuallyincurredAmountactuallyguaranteedTypeofguaranteeGuaranteeperiodWhetherperformancewascompletedWhetherrelated-partyguaranteeornotFuxinLiuheFarmingCo.,LtdApril26,20198,000Thursday,April02,20205,000Jointliabilityguarantee364daysNoYesNewHopeIsabelaAgricultureInc.April29,2020667Friday,May29,2020426.74Jointliabilityguarantee91daysNoYesNewHopeIsabelaAgricultureInc.April29,20203,333Wednesday,June10,20202,133.71Jointliabilityguarantee92daysNoYesNewHopeCentralLuzonAgricultureInc.April29,202016,044Wednesday,May20,20207,730.91Jointliabilityguarantee92daysNoYesNewHopeCentralLuzonAgricultureInc.April29,20201,173Friday,April17,2020564.97Jointliabilityguarantee91daysNoYesNewHopeCentralLuzonAgricultureInc.April29,20201,173Tuesday,May05,2020564.97Jointliabilityguarantee63daysNoYesNewHopeCentralLuzonAgricultureInc.April29,20201,173Monday,May18,2020564.97Jointliabilityguarantee92daysNoYesNewHopeCentralLuzonAgricultureInc.April29,20201,464Monday,May11,2020706.21Jointliabilityguarantee92daysNoYesNewHopeCentralLuzonAgricultureInc.April29,20201,173Thursday,June18,2020564.97Jointliabilityguarantee92daysNoYesNewHopeApril29,2020852Monday,May18,284.5Jointliability91daysNoYesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd164TarlacAgricultureInc.2020guaranteeNewHopeTarlacAgricultureInc.April29,20201,279Tuesday,May19,2020426.74Jointliabilityguarantee91daysNoYesNewHopeTarlacAgricultureInc.April29,20203,410Tuesday,May26,20201,137.97Jointliabilityguarantee94daysNoYesNewHopeTarlacAgricultureInc.April29,20207,544Thursday,May28,20202,517.78Jointliabilityguarantee92daysNoYesNewHopeTarlacAgricultureInc.April29,20202,558Tuesday,June02,2020853.49Jointliabilityguarantee92daysNoYesNewHopeTarlacAgricultureInc.April29,20202,557Thursday,June18,2020853.49Jointliabilityguarantee92daysNoYesNewHopeBulacanAgricultureInc.April29,202024,600Friday,June05,20207,681.37Jointliabilityguarantee94daysNoYesTotalguaranteeamounttosubsidiariesapprovedduringthereportingperiod(C1)69,000Totalamountofguaranteestosubsidiariesactuallyincurredduringthereportingperiod(C2)32,012.8Totalguaranteeamounttosubsidiariesapprovedattheendofthereportingperiod(C3)77,000Totalactualbalanceofguaranteestosubsidiariesattheendofreportingperiod(C4)32,012.8Totalcorporateguarantees(i.e.,totalofthetopthree)Totalamountofguaranteesapprovedduringthereportingperiod(A1+B1+C1)1,326,432Totalamountofguaranteesactuallyincurredduringthereportingperiod(A2+B2+C2)873,113.19Totalamountofguaranteesapprovedattheendofthereportingperiod(A3+B3+C3)2,846,043Totalactualbalanceofguaranteesattheendofreportingperiod(A4+B4+C4)1,023,652.52Percentageoftotalamountactuallyguaranteed(i.e.,A4+B4+C4)inthecompany’snetassets34.33%Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd165Wherein:Balanceofguaranteesprovidedforshareholders,actualcontrollersandtheirrelatedparties(D)0Balanceofdebtguaranteesprovideddirectlyorindirectlyfortheguaranteedsubjectseachwithasset-liabilityratioofover70%(E)664,598.18Totalamountoftheaforesaidthreeguarantees(D+E+F)664,598.18Remarksondetailsofguaranteesprovidedinthecompositeform(2)Illegalexternalguarantees□Applicable√NotapplicableThecompanyhadnoillegalexternalguaranteesduringthereportingperiod.3.Wealthmanagementservice□Applicable√NotapplicableThecompanyhadnowealthmanagementserviceduringthereportingperiod.4.Othersignificantcontracts□Applicable√NotapplicableThecompanyhadnoothersignificantcontractsduringthereportingperiod.XVI.Socialresponsibility1.SignificantenvironmentalissuesWhetherthelistedcompanyanditssubsidiariesarekeypollutantdischargingentitiesannouncedbytheenvironmentalprotectiondepartmentYesNumberNameofcompanyorsubsidiaryNameofkeypollutantandcharacteristicpollutantWayofdischargeNumberofdischargeoutletsDistributionofdischargeoutletsEmissionconcentrationPollutantemissionstandardsimplementedTotalemissionsApprovedtotalemissionsStandard-exceedingemissions1LinyiLiuheFoodCo.,Wastegases:nitrogenoxides,Wastegas:directlydischar6(5forwastegases,Wastegases:eastsideoftheChemicaloxygendemand:450mg/LMeatProcessingIndustryWaterCOD:486t/a;ammonianitrogen:COD:486t/a;ammonianitrogen:NoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd166Ltdparticulates,sulfurdioxide,hydrogensulfide,ammonia,odorconcentrationwastewater:chemicaloxygendemand,ammonianitrogen,totalnitrogen,totalphosphorus,pHvalue,five-daybiochemicaloxygendemand,animalandvegetableoils,suspendedsolids,coliformbacteria.geaftertreatmentwastewater:indirectdischarge1forwastewater)factorypremisesofthecompanywastewater:southsideofthewestgatetothecompanyTotalnitrogen:50mg/LAmmonianitrogen:35mg/LTotalphosphorus:6mg/LpH:6-8.5Suspendedsolids:200mg/LBOD5:120mg/LAnimalandvegetableoils:50mg/LNitrogenoxides:150mg/Nm3Sulfurdioxide:50mg/Nm3Fumes:10mg/Nm3PollutantDischargeStandardGB13457-92AgreementswithsewagetreatmentplantsMalodorousPollutantDischargeStandardGB14554-93,BoilerAirPollutantDischargeStandardGB13271-2014,EmissionStandardforBoilerAirPollutantsDB372374-201837.82t/a37.82t/a2QiuxianLiuheKangyuWastegases(sulfurWastegas:directly4(3forwasteWastegases:eastside100mg/m3ofsulfurdioxide,"BoilerAirPollutantStandard”COD8.43t/a,ammoniaCOD8.43/a,ammoniaNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd167anFoodCo.,Ltddioxide,nitrogenoxides)wastewater(COD,ammonianitrogen,five-daybiochemicaloxygendemand,particulates,animalandvegetableoils,SS,pHvalue)dischargeaftertreatmentwastewater:indirectdischargegases,1forwastewater)ofthefactorypremiseswastewater:southsideofthefactorypremises400mg/m3ofnitrogenoxides,PH6-9,SS70mg/L,COD300mg/L,animalandvegetableoils100mg/Lammonianitrogen25mg/L,5-daybiochemicaloxygendemand100mg/L(GB13271-2001)ClassIITimePeriodthirdlevelstandardinTable3ofthe“MeatProcessingIndustryWaterPollutantDischargeStandard”(GB13457-92),whilemeetingtheincomingwaterqualityrequirementsofQiuCountySewageTreatmentPlantnitrogen0.5t/a,sulfurdioxide0.21t/a,nitrogenoxides0.63t/anitrogen0.5/a,sulfurdioxide0.21/a,nitrogenoxides0.63/a3LinyiLiuheHongchenFarmingCo.,LtdAmmonia(ammonia),particulates,smokeblackness(Ringelmanblackness,scale),sulfurdioxide,nitrogenoxides,odorconcentWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge2(1forwastegases,1forwastewater)Wastegases:eastsideoftheplantpremiseswastewater:westsideoftheplantpremisesChemicaloxygendemand:500mg/LTotalnitrogen:70mg/LAmmonianitrogen:45mg/LTotalphosphorus:8mg/LpH:6-8.5Suspendedsolids:300mg/LBOD5:120mg/LFive-dayBoilerAirPollutantEmissionStandardDB372374-2018MalodorousPollutantEmissionStandardGB14554-93WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,COD1.7t/a;Ammonianitrogen0.3t/aNototalquantityrequirementsNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd168ration,hydrogensulfide,Ringermanblacknesschemicaloxygendemand,ammonianitrogen(NH3-N),totalnitrogen(inN),totalphosphorus(inP),pH,suspendedmatter,animalandvegetableoils,five-daybiochemicaloxygendemand,fecalcoliformbacteriabiochemicaloxygendemand:250mg/LAnimalandvegetableoils:50mg/LMeatProcessingIndustryWaterPollutantEmissionStandardGB13457-924LanlingNewHopeLiuheHongjuWastegas:ammonia(ammonWastegas:directlydischargeafter4(3forwastegases,1forEastsideofthefactorypremisesAmmonianitrogen<5mg/L,COD<50mg/L;BoilerAirPollutantEmissionStandardDB37COD13.1t/a,ammonianitrogen1.3t/aCOD13.1t/a,ammonianitrogen1.3t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd169nFoodCo.,Ltdiagas),hydrogensulfide,odorconcentration,sulfurdioxide,nitrogenoxides,particulates,RingermanblacknessWastewater:chemicaloxygendemand,pHvalue,dissolvedtotalsolids,ammonianitrogen(NH3-N),totalnitrogen(N),totalphosphorus(P),suspendedsolids,five-daybiochemicaltreatmentwastewater:indirectdischargewastewater)Boiler<50mg/Nm3,odorconcentration2000mg/Nm3,2374-2018,MalodorousPollutantEmissionStandardGB14554-93NoticeonApprovalandPublicationoftheModificationFormsforfourstandardsincludingtheComprehensiveEmissionStandardofWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectofShandongProvince(Luzhijianbiaofa[2011]35),MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd170oxygendemand,flowrate,animalandvegetableoil,totalcoliformgroups.5PingyiRefrigerationFactoryofShandongNewHopeLiuheGroupCo.,LtdWastegas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,sulfurdioxide,nitrogenoxides,particulates,RingermanblacknessWastewater:chemicaloxygendemand,pHvalue,dissolvedtotalWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge3(2forwastegases,1forwastewater)Wastegas:northwestsideofthefactorypremisesandwithinthefactorypremisesofthecompanywastewater:northeastsideofthecompanyAmmonianitrogen45mg/lCOD500mg/lTotalphosphorous8mg/lTotalnitrogen70mg/lBoilerAirPollutantEmissionStandardDB372374-2018,MalodorousPollutantEmissionStandardGB14554-93WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92CODcr11.8t/aAmmonianitrogen0.23t/aTotalphosphorous5.29t/aTotalnitrogen46.3t/aCODcr11.8t/aAmmonianitrogen0.23t/aTotalphosphorous5.29t/aTotalnitrogen46.3t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd171solids,ammonianitrogen(NH3-N),totalnitrogen(N),totalphosphorus(P),suspendedsolids,five-daybiochemicaloxygendemand,flowrate,animalandvegetableoil,totalcoliformgroups.6QingdaoTianrunFoodCo.,LtdWastegas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,sulfurdioxide,nitrogenWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge3(2forwastegases,1forwastewater)Wastegas:northeastsideofthefactorypremisesandwithinthefactorypremisesofthecompanywastewater:COD50mg/l,ammonianitrogen5mg/l,totalphosphorus1mg/l,totalnitrogen20mg/l,pH6-9CateringIndustryOilFumeEmissionStandardGB18483-2001,ShandongProvincialBoilerAirPollutantEmissionStandardNo.2ModificationCODcr112.75t/aAmmonianitrogen18.792t/aTotalnitrogen46.98t/aCODcr112.75t/aAmmonianitrogen18.792t/aTotalnitrogen46.98t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd172oxides,particulates,dyeingandfinishingfumesWastewater:COD,pHvalue,dissolvedtotalsolids,ammonianitrogen(NH3-N),totalnitrogen(inN),totalphosphorus(inP),suspendedsolids,five-daybiochemicaloxygendemand,flowrate,animalandvegetableoil,coliformgroupnorthwestsideofthefactorypremisesForm(Luzhijianbiaofa[2016]No.46,MalodorousPollutantEmissionStandardGB14554-93ComprehensiveEmissionStandardofWaterPollutantsinthePeninsulaBasinofShandongProvinceDB37/676-2007,WaterPollutantEmissionStandardforMeatProcessingIndustryGB13457-927XiaoyiNewWastegas:Directdischar4(3forWastegas:Ammonianitrogen:5BoilerAirPollutantCODcr9.358t/aCODcr9.358t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd173HopeLiuheFoodCo.,Ltdammonia(ammoniagas),hydrogensulfide,odorconcentration,sulfurdioxide,nitrogenoxides,particulates,dyeingandfinishingfumesWastewater:COD,pHvalue,dissolvedtotalsolids,ammonianitrogen(NH3-N),totalnitrogen(inN),totalphosphorus(inP),suspendedsolids,five-daybiochegeaftertreatmentwastegases,1forwastewater)northeastsideandsouthwestsideofthefactorypremisesofthecompanywastewater:XiaohedischargeoutletsouthoffactorypremisesCOD:50EmissionStandardGB13271-2014,MalodorousPollutantEmissionStandardGB14554-93,ComprehensiveAirPollutantEmissionStandardGB16297-1996,SurfaceWaterEnvironmentalQualityStandardGB3838-2002,PollutantEmissionStandardforUrbanSewageTreatmentPlantsGB18918-2002Ammonianitrogen0.936t/aNOx0.37t/aAmmonianitrogen0.936t/aNOx0.37t/aFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd174micaloxygendemand,flowrate,animalandvegetableoil,coliformgroup8YishuiNewHopeLiuheFoodCo.,LtdWastegas:ammonia(ammoniagas),odorconcentration,hydrogensulfideWastewater:COD,pHvalue,dissolvedtotalsolid,ammonianitrogen(NH3-N),totalnitrogen(inN),totalphosphorus(inP),suspendedWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge1NorthwestsideofthefactorypremisesCOD:500mg/LTotalnitrogen:70mg/LAmmonianitrogen:45mg/LTotalphosphorus:8mg/LpH:6-8.5Suspendedsolids:200mg/L5-daybiochemicaloxygendemand:250mg/LAnimalandvegetableoils:50mg/LMalodorousPollutantDischargeStandardGB14554-93,WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,MeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92CODcr139.59t/aAmmonianitrogen2.8t/aTotalnitrogen73.58t/aTotalphosphorus8.41t/aCODcr139.59t/aAmmonianitrogen2.8t/aTotalnitrogen73.58t/aTotalphosphorus8.41t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd175matter,five-daybiochemicaloxygendemand,flowrate,animalandvegetableoil,coliformgroups9GuantaoLiuheFoodCo.,LtdWastegas:ammonia(ammoniagas),odorconcentration,hydrogensulfide,fumesWastewater:COD,pHvalue,dissolvedtotalsolids,ammonianitrogen(NH3-N),totalnitrogen(inN),totalWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge3(2forwastegases,1forwastewater)NorthwestsideofthefactorypremisesCOD:50mg/LBOD5:10mg/LAmmonianitrogen:5mg/LSS:10mg/LAnimalandvegetableoils:1mg/LDischargeStandardforUrbanSewageTreatmentPlants(GB18918-2002),MeatProcessingIndustryWaterPollutantDischargeStandard(GB13457-92),FarmlandIrrigationWaterQualityStandard(GB5084-2005),BoilerAirPollutantEmissionStandard(GB13271-2CODcr8.115t/aAmmonianitrogen0.812t/aSO2:2.276t/aNOx:6.829t/aCODcr8.115t/aAmmonianitrogen0.812t/aSO2:2.276t/aNOx:6.829t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd176phosphorus(inP),suspendedmatter,five-daybiochemicaloxygendemand,flowrate,animalandvegetableoil,coliformgroups014),CateringIndustryOilFumeEmissionStandard(trial)(GB18483-2001)10BinzhouLiuheLongdaFarmingCo.,LtdWastegas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,particulatematter,sulfurdioxide,Ringermanblackness,nitrogenoxideWastewWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge4(3forwastegases,1forwastewater)Wastegas:eastsideofthefactorypremisesWastewater:westsideofthefactorypremisesCOD:50mg/LBOD5:10mg/LAmmonianitrogen:5mg/LSS:10mg/LAnimalandvegetableoils:1mg/LMalodorousPollutantEmissionStandardGB14554-93BoilerAirPollutantEmissionStandard(DB37/2374-2018)BoilerAirPollutantEmissionStandard(GB13271-2014)MeatProcessingIndustryWaterPollutantEmissionStandardGBCOD11.85t/aAmmonianitrogen0.65t/aNototalquantityrequirementsNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd177ater:COD,pHvalue,dissolvedtotalsolids,ammonianitrogen(NH3-N),totalnitrogen(inN),totalphosphorus(inP),suspendedsolids,five-daybiochemicaloxygendemand,flowrate,animalandvegetableoil,coliformgroups13457-92WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-201511WudiLiuheXinyangFoodCo.,LtdWastegas:odorconcentration,hydrogensulfide,ammoniWastegas:directlydischargeaftertreatmentwastewater:1SouthofthefactorypremisesCOD:500mg/LTotalnitrogen:70mg/LAmmonianitrogen:45mg/LpH:6-8.5MalodorousPollutantEmissionStandardGB14554-93WaterPollutantEmissionStandardforCODcr189t/aAmmonianitrogen17.01t/aTotalnitrogen26.46t/aCODcr189t/aAmmonianitrogen17.01t/aTotalnitrogen26.46t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd178a(ammoniagas)Wastewater:COD,ammonianitrogen(NH3-N),totalnitrogen(inN),five-daybiochemicaloxygendemand,pHvalue,suspendedsolids,coliformgroups,animalandvegetableoilsindirectdischargeSuspendedsolids:300mg/L5-daybiochemicaloxygendemand:250mg/LAnimalandvegetableoils:50mg/LMeatProcessingIndustryGB13457-9212ZoupingLiuheAnimalHusbandryCo.,LtdWastegas:hydrogensulfide,ammonia(ammoniagas),odorconcentrationWastewater:Wastegas:directlydischargeaftertreatmentwastewater:indirectdischarge1SewagedischargeoutletatthenortheastcornerofthecompanyCOD:500mg/LTotalnitrogen:70mg/LAmmonianitrogen:45mg/LTotalphosphorus:8mg/LpH:6-8.5Suspendedsolids:MalodorousPollutantDischargeStandardGB14554-93WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,COD:18t/a,Ammonianitrogen:2.6t/a,Totalphosphorus:0.3t/a,Totalnitrogen:4.8t/aNototalquantityrequirementsNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd179COD,ammonianitrogen(NH3-N),totalnitrogen(inN),pHvalue,animalandvegetableoils,five-daybiochemicaloxygendemand,suspendedsolids,coliformgroups200mg/L5-daybiochemicaloxygendemand:250mg/LAnimalandvegetableoils:50mg/LMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-9213ShanxianLiuheFeedCo.,LtdFoodBranchWastegas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,sulfurdioxide,nitrogenoxides,particulates,RingerWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge4(3forwastegases,1forwastewater)Wastegas:northwestsideofthefactorypremiseswastewater:northeastsideofthefactorypremisesCOD:500mg/LTotalnitrogen:70mg/LAmmonianitrogen:21mg/LTotalphosphorus:8mg/LpH:6-8.5Suspendedsolids:300mg/L5-daybiochemicaloxygendemand:BoilerAirPollutantEmissionStandardDB372374-2018,MalodorousPollutantEmissionStandardGB14554-93,ShandongProvincialBoilerAirPollutantEmissionStandard"Ultra-lowEmissionCOD:405t/a,Ammonianitrogen:28.35t/a,Totalnitrogen:94.5t/aCOD:405t/a,Ammonianitrogen:28.35t/a,Totalnitrogen:94.5t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd180manblacknessWastewater:chemicaloxygendemand,pHvalue,dissolvedtotalsolids,ammonianitrogen(NH3-N),totalnitrogen(N),totalphosphorus(P),suspendedsolids,five-daybiochemicaloxygendemand,flowrate,animalandvegetableoil,totalcoliformgroups.250mg/LTotalsaltcontent:1600mg/LStandardNo.2ModificationFormLuzhijianbiaofa[2016]No.46,ComprehensiveAirPollutantEmissionStandardGB16297-1996WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,NoticeontheApprovalandPublicationoftheModificationListofFourStandards,IncludingtheComprehensiveDischargeStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectofFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd181ShandongProvince,Luzhijianbiaofa[2011]No.35,NoticeontheApprovalandIssuanceofthemodificationlistoffourstandardsincludingtheComprehensiveDischargeStandardforWaterPollutantsalongtheSouth-to-NorthWaterTransferProjectofShandongProvince,addingthelimitsoftotalsaltcontentindicator,Luzhijianbiaofa[2014]No.714CaoxianLiuheFoodCo.,LtdWastegas:hydrogensulfide,odorconcentration,ammoniaWastegas:directlydischargeaftertreatmentwastewater:indirect1WestsideofthefactorypremisesCOD:300mg/LAmmonianitrogen:21mg/LpH:6-8.5Suspendedsolids:300mg/L5-dayMalodorousPollutantDischargeStandardGB14554-93WaterQualityStandardforSewageDischargedCOG15.84T/aAmmonianitrogen7.04T/aCOD16T/a;Ammonianitrogen8T/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd182(ammoniagas)Wastewater:COD,ammonianitrogen(NH3-N),suspendedsolids,five-daybiochemicaloxygendemand,animalandvegetableoils,totalcoliformgroupsdischargebiochemicaloxygendemand:250mg/LAnimalandvegetableoils:50mg/LintoUrbanSewersGB/T31962-2015,MeatProcessingIndustryWaterPollutantDischargeStandardGB13457-9215JiaxiangNewHopeLiuheFoodCo.,LtdWastegas:odorconcentration,ammonia(ammoniagas),hydrogensulfide,particulatematter,malodorousWastewWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge5(4forwastegases,1forwastewater)Wastegas:southandeastsidesofthefactorypremisesWastewater:westsideofthefactorypremisesCOD230mg/L,ammonianitrogen8mg/l,totalnitrogen11mg/LMalodorousPollutantEmissionStandardGB14554-93ComprehensiveAirPollutantEmissionStandardGB16297-1996,MeatProcessingIndustryWaterPollutantEmissionCOD41.36t/a,ammonianitrogen2.8t/a,totalnitrogen76t/aCOD45.56t/aAmmonianitrogen3.96t/aTotalnitrogen88.83t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd183ater:COD,ammonianitrogen(NH3-N),totalnitrogen(inN),totalphosphorus(inP),pHvalue,suspendedmatter,five-daybiochemicaloxygendemand,animalandvegetableoils,coliformgroupsStandardGB13457-92,WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,ComprehensiveSewageDischargeStandardGB8978-199616YunchengLiuheFoodCo.,LtdWastegas:odorconcentration,ammonia(ammoniagas),hydrogensulfide,particulatematter,Wastegas:directlydischargeaftertreatmentwastewater:indirectdischarge2(1forwastegases,1forwastewater)Wastegas:northsideofthefactorypremisesWastewater:westsideofthefactorypremisesCOD34.4mg/I,ammonianitrogen1.03mg/IBoilerAirPollutantEmissionStandardDB372374-2018,MalodorousPollutantEmissionStandardGB14554-93,ComprehensiveAirPollutantEmissionCOD6.5t/aAmmonianitrogen0.5t/aCOD32.4t/aAmmonianitrogen5.4t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd184malodorousWastewater:COD,ammonianitrogen(NH3-N),totalnitrogen(inN),totalphosphorus(inP),pHvalue,suspendedmatter,five-daybiochemicaloxygendemand,animalandvegetableoils,coliformgroupsStandardGB16927-1996ComprehensiveEmissionStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectinShandongProvinceDB37/599-2006,ModificationFormsDB37/599-2006forfourstandardsincludingtheComprehensiveEmissionStandardofWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectinShandongProvince,increasingthelimitoftotalnitrogen17AnshanLiuheFoodCo.,LtdWastegas:particulatematter,sulfurWastegas:directlydischargeaftertreatme2(1forwastegases,1forwasteWastegas:northwestsideofthefactorySuspendedsolids:300mg/LColiformgroups:10000/LBoilerAirPollutantEmissionStandardGB13271-2014,MalodorousCOD153t/aAmmonianitrogen15.3t/aCOD153t/aAmmonianitrogen15.3t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd185dioxide,nitrogenoxides,smokeblackness,mercuryanditscompounds,hydrogensulfide,odorconcentration,ammoniaWastewater:pHvalue,COD,totaldissolvedsolids,flowrate,ammonianitrogen(NH3-N),suspendedsolids,five-daybiochemicaloxygendemand,animalandvegetableoils,ntwastewater:indirectdischargewater)premisesWastewater:eastsideofthefactorypremisesAmmonianitrogen(NH3-N):30mg/L5-daybiochemicaloxygendemand:250mg/LpHvalue:6.0-8.5Totaldissolvedsolids:2000mg/LAnimalandvegetableoils:50mg/LCOD:300mg/LPollutantEmissionStandardGB14554-93,ComprehensiveAirPollutantEmissionStandardGB16297-1996ComprehensiveSewageDischargeStandardDB21/1627-2008,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92,WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd186coliformgroups18PanjinLiuheFarmingCo.,LtdWastegas:particulatematter,sulfurdioxide,nitrogenoxides,smokeblackness,mercuryanditscompounds,hydrogensulfide,odorconcentration,ammoniaWastewater:pHvalue,COD,totaldissolvedsolids,flowrate,ammonianitrogen(NH3-N),suspendedsolids,Wastegas:directlydischargeaftertreatmentwastewater:indirectdischarge2(1forwastegases,1forwastewater)Wastegas:northwestsideofthefactorypremiseswastewater:northeastsideofthefactorypremisesSuspendedsolids:20mg/LColiformgroups:10000/L5-daybiochemicaloxygendemand:10mg/LAmmonianitrogen(NH3-N):8mg/LCOD:50mg/LAnimalandvegetableoils:20mg/LpHvalue:6.0-8.5Totalnitrogen(inN):15mg/LBoilerAirPollutantEmissionStandardGB13271-2014,MalodorousPollutantEmissionStandardGB14554-93ComprehensiveSewageDischargeStandardDB21/1627-2008,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92COD45t/a,Ammonianitrogen7.2t/aTotalnitrogen:13.5t/aCOD45t/a,Ammonianitrogen7.2t/aTotalnitrogen:13.5t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd187five-daybiochemicaloxygendemand,animalandvegetableoils,coliformgroups19DongeLiuheLvjiaFoodCo.,LtdWastegas:particulatematter,sulfurdioxide,nitrogenoxides,smokeblackness,mercuryanditscompounds,hydrogensulfide,odorconcentration,ammoniaWastewater:pHvalue,COD,totaldissolvedsolids,flowWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge2(1forwastegases,1forwastewater)Wastegas:northeastsideofthefactorypremisesWastewater:northeastsideofthefactorypremisesAmmonianitrogen4.32mg/L,CODconcentration:49mg/LOdor:724MalodorousPollutantEmissionStandardGB14554-93,NoticeontheImplementationofSpecialEmissionLimitsofAirPollutantsinBeijing-Tianjin-HebeiAirPollutionTransmissionChannelCities(MinistryofEnvironmentalProtectionNoticeNo.9,2018)NoticeonApprovalandIssueoftheModificationFormsforfourStandardsCod:13.100000t/a;ammonianitrogen:1.300000t/a;totalphosphorus:0.200000t/a;totalnitrogen:13.500000t/aNototalquantityrequirementsNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd188rate,ammonianitrogen(NH3-N),suspendedsolids,five-daybiochemicaloxygendemand,animalandvegetableoils,coliformgroupsincludingtheComprehensiveEmissionStandardforWaterPollutantsalongtheSouth-to-NorthWaterTransferProjectofShandongProvince,Luzhijianbiaofa[2011]No.35,WaterPollutantDischargeStandardforMeatProcessingIndustryGB13457-9220LiaochengLiuheRongdaFarmingCo.,LtdWastegas:particulatematter,sulfurdioxide,nitrogenoxides,smokeblackness,mercuryanditscompounds,hydrogensulfide,odorWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge2(1forwastegases,1forwastewater)Wastegas:eastsideofthefactorypremisesWastewater:eastsideofthefactorypremisesCODcr≤300mg/L,BOD5≤150mg/L,SS≤200mg/L,NH3-N≤20mg/L,TP≤5mg/L,TN≤45mg/LMalodorousPollutantDischargeStandardGB14554-93,AnnouncementontheImplementationofSpecialAirPollutantEmissionLimitsforCitiesinBeijing-Tianjin-HebeiAirPollutionTransmissionChannelMeatCOD:708.75t/aAmmonianitrogen:63.7875COD:708.75t/aAmmonianitrogen:63.7875NoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd189concentration,ammoniaWastewater:pHvalue,COD,totaldissolvedsolids,flowrate,ammonianitrogen(NH3-N),suspendedsolids,five-daybiochemicaloxygendemand,animalandvegetableoils,coliformgroupsProcessingIndustryWaterPollutantDischargeStandardGB13457-92,WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-201521ShenxianNewHopeLiuheQingsizhaiFoodCo.,LtdWastegas:particulatematter,sulfurdioxide,nitrogenoxides,smokeblackneWastegas:directlydischargeaftertreatmentwastewater:indirectdischar4(3forwastegases,1forwastewater)Wastegas:withinthefactorypremisesWastewater:northsideofthefactorypremisesCODcr50mg/L,BOD510mg/L,NH3-N5mg/L,Animalandvegetableoils3mg/LMalodorousPollutantEmissionStandardGB14554-93DB/372376-2013ShandongProvincialComprehensiveAirCOD:25.2t/aAmmonianitrogen:2.52t/aCOD:25.2t/aAmmonianitrogen:2.52t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd190ss,mercuryanditscompounds,hydrogensulfide,odorconcentration,ammoniaWastewater:pHvalue,COD,totaldissolvedsolids,flowrate,ammonianitrogen(NH3-N),suspendedsolids,five-daybiochemicaloxygendemand,animalandvegetableoils,coliformgroupsgePollutantEmissionStandardNo.2ModificationFormLuzhijianbiaofa(2016)No.46DownIndustryWaterPollutantEmissionStandardGB21901-2008,NoticeonApprovalandIssueofModificationFormsforfourstandardsincludingtheComprehensiveEmissionStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferLineofShandongProvince"Luzhijianbiaofa[2011]35,WaterPollutantDischargeStandardforMeatFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd191ProcessingIndustryGB13457-9222YangguLiuheLuxinFoodCo.,LtdWastegas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,particulatematter,nitrogenoxide,sulfurdioxide,RingmanblacknessWastewater:pHvalue,COD,five-daybiochemicaloxygendemand,suspendedmatter,ammonianitrogen(NH3-N),totalnitrogenWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge3(2forwastegases,1forwastewater)Wastegas:northeastofthefactorypremisesWastewater:northeastsideofthefactorypremisesAmmonianitrogen:5mg/L.COD:40mg/L.Totalnitrogen:15mg/L.Totalphosphorus:0.5mg/LMalodorousPollutantEmissionStandardGB14554-93,ComprehensiveAirPollutantEmissionStandardGB16297-1996,NoticeontheImplementationofSpecialAirPollutantEmissionLimitsinBeijing-Tianjin-HebeiAirPollutionTransmissionChannelCities(MinistryofEnvironmentalProtectionNoticeNo.9,2018)NoticeonApprovalandIssueoftheModificationFormsforFourStandardsincludingthe"COD:24.6t/aAmmonianitrogen:1.04t/aCOD:24.6t/aAmmonianitrogen:1.04t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd192(inN),totalphosphorus(inP),animalandvegetableoils,coliformgroups,anionicsurfactantComprehensiveEmissionStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectofShandongProvince"Luzhijianbiaofa[2011]35,ComprehensiveDischargeStandardforWaterPollutantsalongtheSouth-to-NorthWaterTransferProjectinShandongProvince:DB37/599--2006,MeatProcessingIndustryWaterPollutantDischargestandardGB13457-92,DownIndustryWaterPollutantDischargeStandardGBFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd19321901-200823WeifangTianhuiFoodCo.,LtdWastegas:particulatematter,hydrogensulfide,ammonia(ammoniagas),odorconcentration,sulfurdioxide,nitrogenoxides,RingermanblacknessWastewater:COD,ammonianitrogen(NH3-N),totalnitrogen(inN),totalphosphorus(inP),pHvalue,five-daybiochemicaloxygendemand,Wastegas:directlydischargeaftertreatmentwastewater:indirectdischarge2(1forwastegases,1forwastewater)Wastegas:northsidewithinthefactorypremisesWastewater:southsidewithinthefactorypremisesCOD500mg/L,Ammonianitrogen45mg/L,Totalphosphorus8mg/L,Totalnitrogen8mg/L,ShandongProvincialComprehensiveEmissionStandardforRegionalAirPollutantsDB37/2376-2013,MalodorousPollutantEmissionStandardGB14554-93,BoilerAirPollutantEmissionStandardDB372374-2018WaterPollutantEmissionStandardforMeatProcessingIndustryGB13457-92,WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015COD:225t/aAmmonianitrogen:20.25t/aTotalnitrogen:31.5t/aCOD:225t/aAmmonianitrogen:20.25t/aTotalnitrogen:31.5t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd194suspendedsolids,animalandvegetableoils,coliformgroups,anionicsurfactant24WeifangHeshengyuanFoodCo.,LtdWastegas:ammonia(ammoniagas),hydrogensulfide,odorconcentration,fumes,Ringermanblackness,particulatematter,sulfurdioxide,nitrogenoxidesWastewater:COD,ammonianitrogen(NH3-NWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge4(3forwastegases,1forwastewater)Wastegas:northwestsideofthefactorypremises,eastsideinsidethefactorypremisesWastewater:northeastsideofthefactorypremisesCOD70mg/L,Ammonianitrogen10mg/L,MalodorousPollutantEmissionStandardGB14554-93,CateringIndustryOilFumeEmissionStandardDB37/597-2006,BoilerAirPollutantEmissionStandardDB372374-2018WaterPollutantEmissionStandardforMeatProcessingIndustryGB13457-92,WaterQualityStandardforSewageDischargedCOD:667.7t/aAmmonianitrogen:60.093t/aTotalnitrogen:93.478t/aCOD:667.7t/aAmmonianitrogen:60.093t/aTotalnitrogen:93.478t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd195),totalnitrogen(inN),totalphosphorus(inP),pHvalue,suspendedsolids,five-daybiochemicaloxygendemand,coliformgroups,animalandvegetableoilsintoUrbanSewersGB/T31962-201525LuoyangLiuheHuiquanFoodCo.,LtdWastegas:ammonia(ammoniagas),odorconcentration,hydrogensulfide,fumesWastewater:COD,ammonianitrogen(NH3-N),totalWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge2(1forwastegases,1forwastewater)Wastegas:eastsideofthefactorypremisesWastewater:southwestsideofthefactorypremisesCOD:70mg/LAmmonianitrogen:15mg/LpH:6-8.5Totalphosphorus:0.5mg/LSuspendedsolids:60mg/L5-daybiochemicaloxygendemand:25mg/LAnimalandvegetableoils:CateringIndustryOilFumeEmissionStandardGB18483-2001,MalodorousPollutantEmissionStandardGB14554-93MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92,ComprehensCOD:10t/aAmmonianitrogen:2.43t/aCOD:10t/aAmmonianitrogen:2.43t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd196phosphorus(inP),pHvalue,five-daybiochemicaloxygendemand,suspendedsolids,animalandvegetableoils,coliformgroups.15mg/LColiformgroups:5000/LFumes:2.0mg/Nm3iveSewageDischargeStandardGB8978-199626HebiLiuheZhizhenFoodCo.,LtdCOD,ammonianitrogen,totalphosphorus,totalnitrogenIndirectdischarge1NortheastcornerofthefactorypremisesCOD45mg/L,ammonianitrogen0.5mg/L,totalphosphorus4mg/L,totalnitrogen35mg/L,COD350mg/L,ammonianitrogen35mg/L,totalphosphorus4mg/L,totalnitrogen45mg/L,COD14.6415t//a,ammonianitrogen1.3359t/aCOD64.1232t//a,ammonianitrogen10.6872t/aNone27LaiwuNewHopeLiuheFoodCo.,LtdWastegas:sulfurdioxide,nitrogenoxides,soot,ammonia(ammoniagas),hydrogensulfide,Wastegas:directlydischargeaftertreatmentwastewater:indirectdischarge7(6forwastegases,1forwastewater)Wastegas:northsideofthefactorypremisesWastewater:northsideofthefactorypremisesCOD:500mg/LAmmonianitrogen:45mg/LTotalnitrogen:70mg/LpH:6.5-9.5Totalphosphorus:8mg/LSuspendedsolids:MalodorousDischargeStandardGB14554-93,"ShandongProvincialBoilerAirPollutantEmissionStandard"Ultra-lowEmissionStandardNo.2COD:675t/aAmmonianitrogen:60.75t/aParticulatematter:0.2t/aSO2:0.1t/aNOx:0.406t/aCOD:675t/aAmmonianitrogen:60.75t/aParticulatematter:0.2t/aSO2:0.1t/aNOx:0.406t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd197odorconcentrationWastewater:COD,ammonianitrogen(NH3-N),pHvalue,five-daybiochemicaloxygendemand,totalnitrogen(inN),totalphosphorus(inP),animalandvegetableoils,suspendedsolids400mg/L5-daybiochemicaloxygendemand:350mg/LAnimalandvegetableoils:100mg/LNitrogenoxides:200mg/Nm3Sulfurdioxide:50mg/Nm3Fumes:10mg/Nm3ModificationFormLuzhijianbiaofa[2016]No.46,WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-201528DezhouLiuheZhikangFoodCo.,LtdWastegas:sulfurdioxide,nitrogenoxides,soot,ammonia(ammoniagas),hydrogenWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge3(2forwastegases,1forwastewater)Wastegas:northsideofthefactorypremisesWastewater:northsideofthefactorypremisesCOD:500mg/LAmmonianitrogen:45mg/LTotalnitrogen:70mg/LpH:6.0-8.5Totalphosphorus:8mg/LSuspendedBoilerAirPollutantEmissionStandardDB372374-2018,BoilerAirPollutantEmissionStandardGB13271-2014,MalodorousPollutantCOD:23.3tCOD:23.3tNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd198sulfide,odorconcentrationWastewater:COD,ammonianitrogen(NH3-N),pHvalue,five-daybiochemicaloxygendemand,totalnitrogen(inN),totalphosphorus(inP),animalandvegetableoils,suspendedsolidssolids:300mg/L5-daybiochemicaloxygendemand:250mg/LAnimalandvegetableoils:50mg/LRingermanblackness:level1Nitrogenoxides:150mg/Nm3Sulfurdioxides:50mg/Nm3Fumes:10mg/Nm3EmissionStandardGB14554-93WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-9229FeixianLiuheHuahaiFoodCo.,LtdWastegas:odorconcentration,ammonia(ammoniagas),hydrogensulfideIndirectdischarge1SouthsideofthefactorypremisesCOD:50mg/LAmmonianitrogen:5mg/LTotalphosphorus:0.3mg/LpH:6-8.5Suspendedsolids:20mg/LMalodorousPollutantDischargeStandardGB14554-93,NoticeonApprovalandIssueoftheModificationFormsforFourCOD:11.6t/aAmmonianitrogen:1.16t/aTotalnitrogen:14t/aTotalphosphorus:0.63t/aCOD:11.6t/aAmmonianitrogen:1.16t/aTotalnitrogen:14t/aTotalphosphorus:0.63t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd199Wastewater:COD,ammonianitrogen(NH3-N),pHvalue,suspendedsolids,five-daybiochemicaloxygendemand,animalandvegetableoils,coliformgroups,totalnitrogen(inN),totalphosphorus(inP)Totalnitrogen:20mg/L5-daybiochemicaloxygendemand:10mg/LAnimalandvegetableoils:3mg/LColiformgroups:10000/LStandardsIncludingtheComprehensiveDischargeStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectofShandongProvinceLuzhijianbiaofa[2011]No.35,WaterPollutantEmissionStandardforMeatProcessingIndustryGB13457-92,ComprehensiveDischargeStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectinShandongProvinceDB37/599-2006,ModificationFormsDB37Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd200/599-2006forFourStandardsincludingtheComprehensiveDischargeStandardforWaterPollutantsalongtheSouth-to-NorthWatertransferProjectinShandongProvince,increasingthelimitoftotalnitrogen.30FuxinLiuheFarmingCo.,LtdFoodBranchWastegas:nitrogenoxides,fumeblackness,particulatematter,sulfurdioxide,ammonia(ammoniagas),hydrogensulfide,odorconcentrationWastewWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge3(2forwastegases,1forwastewater)Wastegas:northwestandsouthsideofthefactorypremisesWastewater:westsideofthefactorypremisesCOD:300mg/LAmmonianitrogen:30mg/LpH:6-8.5Suspendedsolids:300mg/L5-daybiochemicaloxygendemand:250mg/LAnimalandvegetableoils:50mg/LBoilerAirPollutantEmissionStandardGB13271-2014,MalodorousPollutantEmissionStandardGB14554-93WaterPollutantEmissionStandardforMeatProcessingIndustryGB13457-92,ComprehensiveSewageDischargeStandardDB21/1627-200CODcr:78.61t/aAmmonianitrogen:7.86t/aCODcr:78.61t/aAmmonianitrogen:7.86t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd201ater:COD,suspendedsolids,ammonianitrogen(NH3-N),pHvalue,five-daybiochemicaloxygendemand,animalandvegetableoils,coliformgroups831BeijingKingheyFoodCo.,LtdWastegas:nonmethanehydrocarbons,fumes,particulatematterwastewater:COD,ammonianitrogen,totalphosphorus,totalnitrogenWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge4(3forwastegases,1forwastewater)Wastegasdischargeoutlets:canteens,renderingshopsWastewaterdischargeoutlets:southsideofthesewagetreatmentstation.Nonmethanehydrocarbons(renderingshop):50mg/m3Nonmethanehydrocarbons:10mg/m3;Fumes:1mg/Nm3;PM10:5mg/Nm3COD:220mg/L,ammonianitrogen:35mg/L,ComprehensiveWaterPollutantDischargeStandards(DB11/307-2013)ComprehensiveAirPollutantDischargeStandardDB11/501—2017CateringIndustryOilFumeEmissionStandardCOD:186.15t/a;ammonianitrogen:18.615t/aCOD:186.15t/a;ammonianitrogen:18.615t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd202totalphosphorus6mg/L,totalnitrogen50mg/L(Trial)GB18483-200132HebeiKingheyMeatIndustryCo.,LtdWastegas:hydrogensulfide,ammonia(ammoniagas),odorconcentration,non-methanetotalhydrocarbons,particulates,nitrogenoxides,sulfurdioxideWastewater:COD,ammonianitrogen,totalnitrogen,totalphosphorus,pH,BOD5,suspendedsolids,Indirectdischarge6(5forwastegases,1forwastewater)Wastegasdischargeoutlets:canteens,renderingshops,waitingpens,deslimingrooms,flotationtankNorthsideofthesewagetreatmentstationOdor:2000Nonmethanehydrocarbons(renderingshop):80mg/m3COD:120mg/L,ammonianitrogen25mg/L,totalphosphorus8mg/L,totalnitrogen75mg/L,BOD:60mg/L,totalsuspendedsolids:120mg/LComprehensiveWaterPollutantEmissionStandard(DB11/307-2013),IndustrialEnterpriseVOCEmissionControlStandardDB13/2322-2016OdorPollutantEmissionStandardGB14554-93COD:23.63t/a;ammonianitrogen:2.29t/aCOD:23.63t/a;ammonianitrogen:2.29t/aNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd203animalandvegetableoils,coliformgroups,phosphate.33LiaoningKingheyFoodCo.,LtdWastegas:directlydischargeaftertreatmentwastewater:indirectdischarge1Outletofthesewagetreatmentstation(northeastcornerofthefactorypremises)COD:300㎎/L,ammonianitrogen:30㎎/L,totalphosphorus5㎎/L,totalnitrogen50㎎/L,BOD:250mg/L,totalsuspendedsolids:300mg/LComprehensiveSewageDischargeStandardDB21/1627-2008WaterPollutantEmissionStandardforMeatProcessingIndustryGB13457-92MalodorousPollutantEmissionStandardGB14554-93,ComprehensiveAirPollutantEmissionStandardGB16297-1996COD:462t/a;ammonianitrogen:46.2t/aCOD:462t/a;ammonianitrogen:46.2t/aNone34GuangzhouHopeFeedCo.,LtdExhaustgas:nitrogenoxides,sulfurdioxide,particulatematterExhaustgas:directlydischargedaftertreatment1Exhaustgasoutlet:locatedattheexhaustoutletofthebiomassNitrogenoxides:150mg/m3Sulfurdioxide:50mg/m3Fumeparticulates:20mg/m3BoilerAirPollutantEmissionStandard(GB13271-2014)Nitrogenoxides:5.4t/aNoneNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd204gasboilerintheplantBaselineoxygencontent:3.5%Fumeblackness:level135ChengduXiwangFoodCo.,LtdWastegas(particulatematter,SO2,NOX,VOCS,Ringelmanblackness,hydrogensulfide,ammoniagas,odorconcentration)wastewater(COD,ammonianitrogen,totalnitrogen,totalphosphorus,PH,5-daybiochemicaloxygendemand,animalIntermittentdischarge,unstableflowrateduringdischarge,butwithcyclicpatternsTwooutletsforwastewater,twooutletsforwastegasOnewastewateroutletandonewastegasoutletineachofthehigh-temperatureplantandlow-temperatureplant.COD500mg/LTotalnitrogen70mg/LAmmonianitrogen45mg/LTotalphosphorus8mg/LpH6.0-8.5mg/LSuspendedsolids400mg/L5-daybiochemicaloxygendemand300mg/LAnimalandvegetableoils60mg/LColiformgroupsNitrogenoxides150mg/Nm3Sulfurdioxide50mg/Nm3ParticulatematterWastegasissubjecttotheBoilerAirPollutantDischargeStandardGB13271-2014WastewaterissubjecttotheMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92.NoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd205andvegetableoils,suspendedsolids,coliformgroups)20mg/Nm3RingelmanblacknessLevel1Odorconcentration20mg/Nm3Ammonia(Ammoniagas)1.5mg/Nm3Hydrogensulfide0.06mg/Nm336HongyaMeihaoFoodCo.,LtdWastewater:suspendedsolids,ammonianitrogen,COD,pH,animalandvegetableoils,5-daybiochemicaloxygendemand,fecalcoliformgroupsIndirectdischarge(dischargedintourbansewagetreatmentstationsaftertreatment)1Locatedinthesouthwestcornerofthecompany.Suspendedsolids400mg/L,ammonianitrogen45mg/L,COD500mg/L,pH6.0-8.5,animalandvegetableoils60mg/L,5-daybiochemicaloxygendemand300mg/L,fecalcoliformgroups/Suspendedsolids,COD,pH,animalandvegetableoils,5-daybiochemicaloxygendemand,fecalcoliformgroups:GB13457-92Ammonianitrogen:GB/T31962-2015Thesimplifiedmanagementunitonlypermitsemissionconcentration,butnotemissionvolume.Thesimplifiedmanagementunitonlypermitsemissionconcentration,butnotemissionvolume.NoneWastegas:RingelmanDirectdischarge1LocatedinsidetheboilerhouseofRingelmanblacknesslevel1,particulateGB13271-2014ThesimplifiedmanagementunitThesimplifiedmanagementunitNoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd206blackness,particulatematter,nitrogenoxides,sulfurdioxidethecompany.matter20mg/m2,nitrogenoxides200mg/m3,sulfurdioxide50mg/m3onlypermitsemissionconcentration,butnotemissionvolume.onlypermitsemissionconcentration,butnotemissionvolume.Odorconcentration,ammoniagas,hydrogensulfideDisorganized//Odorconcentration20dimensionless,ammoniagas1.5mg/Nm3,hydrogensulfide0.06mg/Nm3GB14554-93Thesimplifiedmanagementunitonlypermitsemissionconcentration,butnotemissionvolume.NoneConstructionandoperationofpollutioncontrolfacilitiesNumberCompanynameNameofpollutioncontrolfacilityTreatmentprocessTreatmentcapacityTimecommissionedOperationalstatus1LinyiLiuheFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)1,200cubicmeters/dayCommissionedin2015Runningnormally2QiuxianLiuheKangyuanFoodCo.,LtdSewagetreatmentsystemHydrolyticacidification+A/Oprocess1000cubicmeters/dayCommissionedin2014Runningnormally3LinyiLiuheHongchenFarmingCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)1000cubicmeters/dayCommissionedinMarch2009Runningnormally4LanlingNewHopeLiuheHongjunFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)600cubicmeters/dayCommissionedin2013Runningnormally5PingyiRefrigerationFactoryofShandongNewHopeLiuheGroupCo.,LtdSewagetreatmentsystemBiologicalcontactoxidationprocess1,200cubicmeters/dayAcquiredin1997,operatedusingtheoriginaltanks,furtherimprovedinRunningnormallyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd2072002/2004.6QingdaoTianrunFoodCo.,LtdSewagetreatmentsystemSBRprocess+A/Oprocess2000cubicmeters/daySBRsystemwascommissionedin2005,followedbyA/Oprocessin2009Runningnormally7XiaoyiNewHopeLiuheFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)1600cubicmeters/dayCommissionedin2012,processimprovedin2016,withbio-filtersaddedRunningnormally8YishuiNewHopeLiuheFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)1800cubicmeters/dayCommissionedin2010,andfurtherimprovedin2014throughsewagetreatmentsystemRunningnormally9GuantaoLiuheFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)3400cubicmeters/dayCommissionedin2009,andfurtherimprovedin2017Runningnormally10BinzhouLiuheLongdaFarmingCo.,LtdSewagetreatmentsystemSBRprocess+A/Oprocess500cubicmeters/dayCommissionedin2008Runningnormally11WudiLiuheXinyangFoodCo.,LtdSewagetreatmentsystemSBRprocess+A/Oprocess1000cubicmeters/day2006Runningnormally12ZoupingLiuheAnimalHusbandryCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)1000cubicmeters/dayCommissionedin2004andtransformedandupgradedin2012Runningnormally13ShanxianLiuheFeedCo.,LtdFoodBranchSewagetreatmentsystemHydrolyticacidification+BRN1300cubicmeters/dayCommissionedin2012Runningnormally14CaoxianLiuheFoodCo.,LtdSewagetreatmentsystemFBRprocess1400cubicmeters/dayCommissionedin2007Runningnormally15JiaxiangNewHopeLiuheSewageAnaerobic+3000cubicSeptember2017RunningnormallyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd208FoodCo.,Ltdtreatmentsystemaerobic(A/Oprocess)meters/day16YunchengLiuheFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)800cubicmeters/dayCommissionedin2006,andupgradedin2011and2017respectively.Runningnormally17AnshanLiuheFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)2000cubicmeters/dayCommissionedin2007Runningnormally18PanjinLiuheFarmingCo.,LtdSewagetreatmentsystemBiologicalcontactoxidationprocess1,200cubicmeters/dayCommissionedin2011Runningnormally19DongeLiuheLvjiaFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)600cubicmeters/dayCommissionedin2010Runningnormally20LiaochengLiuheRongdaFarmingCo.,LtdSewagetreatmentsystemHighefficiencyairflotation+hydrolyticacidification(A/Oprocess)2500cubicmeters/dayCommissionedin2013andacceptedinMay2015Runningnormally21ShenxianNewHopeLiuheQingsizhaiFoodCo.,LtdSewagetreatmentsystemCombinedairflotationandbiologicalcontactoxidation(A/Oprocess)2000cubicmeters/dayCommissionedinDecember2013andacceptedinJuly2014Runningnormally22YangguLiuheLuxinFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)3000cubicmeters/dayThecontactoxidationprocesswasputintooperationin2009,followedbytheA/Oprocessin2015Runningnormally23WeifangTianhuiFoodCo.,LtdSewagetreatmentsystemContactoxidationprocess+SBR700cubicmeters/dayThecontactoxidationprocesswasputintooperationin2007andSBRin2009Runningnormally24WeifangHeshengyuanFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)5700cubicmeters/dayCommissionedin2018Runningnormally25LuoyangLiuheHuiquanFoodCo.,LtdSewagetreatmentAnaerobic+aerobic(A/O1000cubicmeters/dayCommissionedin2008,andRunningnormallyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd209systemprocess)furtherimprovedin201526HebiLiuheZhizhenFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)2000cubicmeters/dayCommissionedin2011andupgradedin2015Undertesting27LaiwuNewHopeLiuheFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)3000cubicmeters/day2014Runningnormally28DezhouLiuheZhikangFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)800cubicmeters/dayCommissionedin2008Runningnormally29FeixianLiuheHuahaiFoodCo.,LtdSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)2000cubicmeters/dayCommissionedin2013,andfurtherimprovedin2016throughsewagetreatmentsystemRunningnormally30FuxinLiuheFarmingCo.,LtdFoodBranchSewagetreatmentsystemAnaerobic+aerobic(A/Oprocess)1500cubicmeters/dayCommissionedin2007Runningnormally31BeijingKingheyFoodCo.,LtdSewagetreatmentsystemBiologicalcontactoxidationprocess1500cubicmeters/dayCommissionedin2004Runningnormally32HebeiKingheyMeatIndustryCo.,LtdSewagetreatmentsystemA/Oprocess1500cubicmeters/dayCommissionedin2006Runningnormally33LiaoningKingheyFoodCo.,LtdSewagetreatmentsystemBiologicalcontactoxidationprocess,A/Oprocess3000cubicmeters/dayThefirstphasewascommissionedin2006,followedbythesecondphasein2019Runningnormally34GuangzhouHopeFeedCo.,LtdSNCRde-nitrificationtailgastreatmentsystemSNCRde-nitrification2017Runningnormally35ChengduXiwangFoodCo.,LtdSewagetreatmentAnaerobic,aerobic800/6002009/2018RunningnormallyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd210station37HongyaMeihaoFoodCo.,LtdSewagetreatmentstationAnaerobic,aerobic150t/dMarch2018RunningnormallyEnvironmentalimpactassessmentofconstructionprojectsandotheradministrativelicensesforenvironmentalprotectionNumberCompanynameDocumentnameApprovingauthorityDateapprovedApprovalNo1LinyiLiuheFoodCo.,LtdApprovalofenvironmentalimpactassessmentreportofLinyiLiuheFoodCo.,LtdDezhouCityBureauofEnvironmentalProtection,ShandongProvinceDecember24,2010Dehuanyan(2010)No.65AcceptanceTestReportonEnvironmentalProtectionofCompletedConstructionProjectLinyiCountyBureauofEnvironmentalProtection,ShandongProvinceJune2017Linhuanjianzi2017YS06-072QiuxianLiuheKangyuanFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportonthe20millionwhite-featheredmeatduckfarmingandprocessingprojectofHebeiKangyuanHALALFoodCo.,LtdQiuCountyBureauofEnvironmentalProtectionFebruary02,2012Qiuhuanshu[2012]No.1Supplementtothe20millionwhite-featheredmeatduckfarmingandprocessingprojectofHebeiKangyuanHALALFoodCo.,LtdQiuCountyBureauofEnvironmentalProtectionDecember23,2013Qiuhuanshu[2013]No.4The20millionwhite-featheredmeatduckfarmingandprocessingprojectofHebeiKangyuanIslamicFoodCo.,LtdQiuCountyBureauofEnvironmentalProtection2013Qiuhuanyan[2013]No.073LinyiLiuheHongchenFarmingCo.,LtdApprovalofEnvironmentalImpactAssessmentReportonexpansionofthe0.70million/ameatducksandmeatrabbitsslaughteringprojectofLinyiLiuheHongchenFarmingCo.,LtdLanshanDistrictBureauofEnvironmentalProtectionDecember30,2008Linhuanlanhan(2008)No.423Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd211ApprovalofAcceptanceReportonexpansionofthe0.70million/ameatducksandmeatrabbitsslaughteringprojectofLinyiLiuheHongchenFarmingCo.,LtdLanshanDistrictBureauofEnvironmentalProtectionAcceptancecheckcompletedLinhuanlanhan(2010)No.7364LanlingNewHopeLiuheHongjunFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportonthe15million/ameatduckslaughteringanddeepprocessingprojectofCangshanCountyHongjunFoodCo.,LtdLinyiCityBureauofEnvironmentalProtectionApril10,2013Linhuanfa【2013】No.53AcceptanceOpinionsontheCompletionAcceptanceofEnvironmentalProtectionforthe15million/ameatduckslaughteringanddeepprocessingprojectofLanlingNewHopeLiuheHongjunFoodCo.,LtdLinyiCityBureauofEnvironmentalProtectionAugust20,2018Linhuanpinghan(2014)No.3415PingyiRefrigerationFactoryofShandongNewHopeLiuheGroupCo.,LtdWrittenReplyregardingtheApprovalOpinionsontheSecondPhaseofBroilerSlaughteringLineProjectofPingyiLiuheCo.,LtdLinyiCityBureauofEnvironmentalProtectionDecember07,2001Linhuanhan【2001】No.103AcceptanceOpinionsontheCompletionAcceptanceofEnvironmentalProtectionoftheSecondPhaseofBroilerSlaughteringLineProjectofPingyiLiuheCo.,LtdLinyiCityBureauofEnvironmentalProtectionJune02,2003Pinghuanshenzi(2008)No.416QingdaoTianrunFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportonthe12million/aBroilerProcessingPlantofQingdaoTianrunFoodCo.,LtdPingduCityBureauofEnvironmentalProtection12/22/2003Pinghuanjianzi[2003]No.53EnvironmentalImpactReportonthe6million/aMeatDuckProcessingPlantProjectPingduCityBureauofEnvironmentalProtection1/18/2015Pinghuanjianzi[2005]No.20AcceptanceOpinionsonCompletionAcceptanceofPingduCityBureauof12/19/2006Pinghuanjianzi(2003)No.53Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd212EnvironmentalProtectionoftheMeatDuckProcessingPlantProjectEnvironmentalProtection7XiaoyiNewHopeLiuheFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportontheproposed60,000t/achickencuttingproductionlineprojectofXiaoyiDaxiangFarming&FoodCo.,LtdLvliangCityBureauofEnvironmentalProtection12/9/2010Lvhuanxingshen[2010]No.335AcceptanceOpinionsonCompletionAcceptanceofEnvironmentalProtectionoftheproposed60,000t/achickencuttingproductionlineprojectofXiaoyiDaxiangFarming&FoodCo.,LtdLvliangCityBureauofEnvironmentalProtection9/30/2017Xiaohuanhan[2017]No.1678YishuiNewHopeLiuheFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportoftheproposed90,000t/apoultrymeatanddeepprocessingplantprojectofYishuiLiuheKailidaFoodCo.,LtdLinyiCityBureauofEnvironmentalProtectionMay04,2009Linhuanhan【2009】No.245ApprovalofApplicationforCommissioningofthenew90,000t/apoultrymeatanddeepprocessingplantprojectofYishuiLiuheKailidaFoodCo.,LtdLinyiCityBureauofEnvironmentalProtectionAugust21,2010Linhuanhan【2010】No.596ApprovalofEnvironmentalImpactAssessmentReportontheSewageTreatmentImprovementProjectofYishuiLiuheKailidaFoodCo.,LtdLinyiCityBureauofEnvironmentalProtectionJune24,2011Linhuanhan【2011】No.330ApprovalofApplicationforCommissioningoftheSewageTreatmentImprovementProjectofYishuiLiuheKailidaFoodCo.,LtdLinyiCityBureauofEnvironmentalProtectionOctober12,2012Linhuanhan【2012】No.554Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd2139GuantaoLiuheFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportontheBroilerSlaughteringandCuttingProjectofGuantaoLiuheFoodCo.,LtdHandanCityBureauofEnvironmentalProtectionMarch04,2009[2009]No.36AcceptanceOpinionsonCompletionAcceptanceofEnvironmentalProtectionoftheBroilerSlaughteringandCuttingProjectofGuantaoLiuheFoodCo.,LtdHandanCityBureauofEnvironmentalProtectionDecember02,2010Hanhuanyan[2010]No.89MeatpackingandsewagetreatmentprojectofGuantaoLiuheFoodCo.,LtdHandanCityBureauofEnvironmentalProtectionMay22,2017Huanguanbiao【2017】No.910BinzhouLiuheLongdaFarmingCo.,LtdThe0.90million/abroilerandduckslaughteringandcuttingplantprojectofBinzhouLongdaFoodCo.,LtdBinzhouCityBureauofEnvironmentalProtectionBinchengBranchMarch16,2007Binchenghuanbiao[2007]No.11AcceptanceopinionsBinzhouCityBureauofEnvironmentalProtectionBinchengBranchSeptember20,2008Huanyan[2008]No.1-1511WudiLiuheXinyangFoodCo.,LtdThe40000/abroilerslaughteringplantprojectofBinzhouQingheFushiFoodCo.,LtdBinzhouCityBureauofEnvironmentalProtectionFebruary26,2007Binhuanzi[2007]No.3012ZoupingLiuheAnimalHusbandryCo.,LtdApprovalofEnvironmentalImpactAssessmentReportonthe0.90million/abroilerslaughteringlineprojectofZoupingLiuheFarmingCo.,LtdZoupingCountyBureauofEnvironmentalProtectionSeptember08,2009Zouhuanuanzi(2009)No.72AcceptanceOpioniosonCompletionAcceptanceofEnvironmentalProtectionofthe0.90million/abroilerslaughteringlineprojectofZoupingLiuheFarmingCo.,ZoupingCountyBureauofEnvironmentalProtectionDecember07,2010Zouhuanyanbiao(2010)No.13Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd214Ltd13ShanxianLiuheFeedCo.,LtdFoodBranchThe30million/ameatduckslaughteringandprocessingplantprojectofShanxianLiuheFeedCo.,LtdFoodBranchHezeCityBureauofEnvironmentalProtectionJune11,2012Hehuanshen[2012]No.46CompletionAcceptanceofEnvironmentalProtectionofthe30million/ameatduckslaughteringandprocessingplantprojectofShanxianLiuheFeedCo.,LtdFoodBranchHezeCityBureauofEnvironmentalProtectionSeptember30,2017Huanyan[2017]No.10814CaoxianLiuheFoodCo.,LtdThe20million/aduckslaughteringandprocessingplantprojectofCaoxianLiuheFoodCo.,LtdCaoCountyBureauofEnvironmentalProtectionApril11,2007Caohuanshen[2007]No.44Completionacceptanceofenvironmentalprotectionofthe20million/aduckslaughteringandprocessingplantprojectofCaoxianLiuheFoodCo.,LtdCaoCountyBureauofEnvironmentalProtectionJune10,2008Caohuanshen[2008]No.2615JiaxiangNewHopeLiuheFoodCo.,LtdThemeatpoultryslaughteringandpackingplantprojectofJiaxiangNewHopeLiuheFoodCo.,LtdJiaxiangCountyBureauofEnvironmentalProtectionAugust17,2016Jiahuanshen[2016]No.0216YunchengLiuheFoodCo.,LtdApprovaloftheEnvironmentalImpactAssessmentReportonWastewaterTreatmentImprovementProjectofYunchengLiuheFoodCo.,LtdYunchengCountyBureauofEnvironmentalProtectionJuly25,2010Yunhuanshen【2010】No.62CompletionAcceptanceFormfortheWastewaterTreatmentImprovementProjectYunchengCountyBureauofEnvironmentalProtectionOctober13,2014Yunhuanpinghan(2018)No.617AnshanLiuheFoodCo.,LtdThe15million/ameatduckslaughteringandpackingplantprojectofLiaoningTai’anCountyBureauofEnvironmentalMay11,2007Taihuanshenzi[2007]No.8Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd215HongluAgriculturalDevelopmentCo.,LtdProtectionAcceptanceOpinionsonCompletionAcceptanceofEnvironmentalProtectionofthe15million/ameatduckslaughteringandpackingplantprojectofLiaoningHongluAgriculturalDevelopmentCo.,LtdTai’anCountyBureauofEnvironmentalProtectionJune29,2008Taihuanyanzi[2008]No.618PanjinLiuheFarmingCo.,LtdApprovalofEnvironmentalImpactAssessmentReportontheMeatDuckCutting,ProcessingandRefrigerationPlantProjectofPanjinLiuheFarmingCo.,LtdPanjinCityBureauofEnvironmentalProtectionDecember30,2010Panhuanfa[2010]No.350AcceptanceOpinionsonCompletionAcceptanceofEnvironmentalProtectionoftheMeatDuckCutting,ProcessingandRefrigerationPlantProjectofPanjinLiuheFarmingCo.,LtdPanjinCityBureauofEnvironmentalProtectionNovember29,2012Panhuanhan[2012]No.11719DongeLiuheLvjiaFoodCo.,LtdThe0.90million/apoultryslaughteringandrefrigerationplantprojectofDongeLiuheLvjiaFoodCo.,LtdDongeCountyBureauofEnvironmentalProtectionJuly15,2008Dongjibei[2008]No.55AcceptanceOpinionsonCompletionAcceptanceofthe0.90million/apoultryslaughteringandrefrigerationplantprojectofDongeLiuheLvjiaFoodCo.LtdDongeCountyBureauofEnvironmentalProtectionDecember29,2010EnvironmentalProtectionReportonConstructionProject20LiaochengLiuheRongdaFarmingCo.,LtdApprovalofEnvironmentalImpactAssessmentReportontheMeatDuckSlaughteringProductionLineProjectofLiaochengLiuheRongdaFarmingCo.,LtdGaotangCountyBureauofEnvironmentalProtectionFebruary24,2012Gaohuanyan[2012]No.02AcceptanceOpinionsonEnvironmentalProtectionofGaotangCountyBureauofJuly21,2017Gaohuanyan[2017]No.10Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd216CompletedConstructionProjectEnvironmentalProtection21ShenxianNewHopeLiuheQingsizhaiFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportonthe48million/aDuckSlaughteringPlantProjectofShenxianNewHopeLiuheQingsizhaiFoodCo.,LtdShenCountyBureauofEnvironmentalProtectionMay28,2013Shenhuanshen【2013】No.43AcceptanceOpinionsonCompletionAcceptanceofEnvironmentalProtectionofthe48million/aDuckSlaughteringPlantProjectofShenxianNewHopeLiuheQingsizhaiFoodCo.,LtdShenCountyBureauofEnvironmentalProtectionJuly28,2014Shenhuanyan【2014】No.1222YangguLiuheLuxinFoodCo.,LtdOpinionsonFilingofthe32million/aMeatDuckSlaughteringPlantProjectofYangguLiuheLuxinFoodCo.,LtdYangguCountyBureauofEnvironmentalProtectionDecember28,2016Yanghuanhan[2016]No.12323WeifangTianhuiFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportontheDuckProductDeepProcessingIndustrializationDemonstrationProjectofWeifangTianhuiFoodCo.,LtdShouguangCityBureauofEnvironmentalProtectionMarch30,2007Shouhuanshenzi(2007)No.2AcceptanceOpinionsontheDuckProductDeepProcessingPackingIndustrializationDemonstrationProjectofWeifangTianhuiFoodCo.,LtdShouguangCityBureauofEnvironmentalProtectionOctober2007None24WeifangHeshengyuanFoodCo.,LtdModernWhite-featheredBroilerIndustryIntegratedDevelopmentProject,Anqiu,WeifangCityAnqiuCityBureauofEnvironmentalProtectionSeptember09,2016Anhuanzi[2016]No.58PollutionControlFacilitiesAcceptanceForm(Trial)AnqiuCityBureauofEnvironmentalProtectionJanuary2019Anhuanyanzi[2019]No.03425LuoyangLiuheHuiquanFoodReviewOpinionsonNewBroilerProcessingProjectofLuoyangCityBureauofJuly30,2008Luoshihuan(2008)No.226Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd217Co.,LtdLuoyangLiuheHuiquanFoodCo.,LtdEnvironmentalProtectionApprovalofEnvironmentalImpactAssessmentReportontheNewBroilerProcessingProjectofLuoyangLiuheHuiquanFoodCo.,LtdHenanProvincialBureauofEnvironmentalProtectionNovember14,2008Yuhuanshen(2008)No.262AcceptanceOpinionsonEnvironmentalProtectionoftheNewBroilerProcessingProjectofLuoyangLiuheHuiquanFoodCo.,LtdHenanProvincialBureauofEnvironmentalProtectionOctober15,2010Luohuanjianyan[2010]No.5226HebiLiuheZhizhenFoodCo.,LtdStatusQuoEnvironmentalImpactAssessmentReportretroactivelyfiledin2016WithoutofficialwrittenrepliesStatusQuoEnvironmentalImpactAssessmentReport27LaiwuNewHopeLiuheFoodCo.,LtdEnvironmentalImpactAssessmentReportontheMeatPoultryProcessingIndustrializationProjectofLaiwuNewHopeLiuheFoodCo.,LtdLaichengDistrictBureauofEnvironmentalProtectionAugust19,2011Laihuanju【2011】No.82EnvironmentalImpactReportonAirPollutionControlofLaiwuNewHopeLiuheFoodCo.,LtLaiwuCityBureauofEnvironmentalProtectionNovember14,2018Laihuanbaogaobiao{2018}No.1114228DezhouLiuheZhikangFoodCo.,LtdAcceptanceMonitoringReportonEnvironmentalProtectionoftheCompleted30000/dMeatDuckSlaughteringPlantProjectofDezhouLiuheZhikangFoodCo.,LtdLingxianCountyEnvironmentalMonitoringStation,DezhouCityDecember01,2009Linghuanjianzi2009No.39AcceptanceOpinionsonEnvironmentalProtectionofonEnvironmentalProtectionoftheCompleted30000/dMeatDuckSlaughteringPlantProjectofDezhouLiuheZhikangFoodCo.,LtdLingCountyBureauofEnvironmentalProtectionMay10,2010Linghuanyan【2010】No.329FeixianLiuheHuahaiFoodCo.,LtdApprovalofEnvironmentalImpactAssessmentReportonthe20million/aBroilerSlaughteringandProcessingLinyiCityBureauofEnvironmentalProtectionApril27,2012Linhuanfa(2012)No.51Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd218PlantProjectofFeixianLiuheHuahaiFoodCo.,Ltd30FuxinLiuheFarmingCo.,LtdFoodBranchApprovalofEnvironmentalImpactAssessmentReportonthe25million/aBroilerSlaughteringPlantProjectofFuxinLiuheFarmingCo.,LtdFuxinCityBureauofEnvironmentalProtectionTaipingBranchJanuary10,2017Fuhuantaishenshu[2017]No.01ApprovalofCompletionAcceptanceofEnvironmentalFacilitiesforthe15million/aWhite-featheredBroilerSlaughteringPlantProjectofFuxinLiuheFarmingCo.,LtdFoodBranchFuxinCityBureauofEnvironmentalProtectionMarch10,2010Fuhuanfa[2010]No.4931BeijingKingheyFoodCo.,LtdApprovalofBeijingPingguDistrictBureauofEnvironmentalProtectionregardingEnvironmentalImpactReportonProjectofProcessingofQuickFrozenFood,MeatProductsandSupportingFacilitiesPingguDistrictBureauofEnvironmentalProtection,Beijing2014Jingpinghuanpingshen[2014]No.450AcceptanceopinionsPingguDistrictBureauofEnvironmentalProtection,Beijing2015Pinghuanyan[2015]No.7132HebeiKingheyMeatIndustryCo.,LtdApprovalofEnvironmentalImpactReportonPigSlaughteringandMeatPackingProjectofBeijingKingheyFoodCo.,LtdinNangongHebeiProvincialBureauofEnvironmentalProtection2004Jihuanguan[2014]No.193AcceptanceopinionsHebeiProvincialDepartmentofEnvironmentalProtection2010Jihuanyan(2010)No.00633LiaoningKingheyFoodCo.,LtdPigSlaughteringProjectofLiaoningKingheyFoodCo.,LtdShenyangCityBureauofEnvironmentalProtectionPuheNewTown2005Shennonghuanbaoshenzi[2005]No.7Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd219BranchAcceptanceopinionsShenyangCityBureauofEnvironmentalProtectionPuheNewTownBranch2010Puhuanfenyan[2010]No.7134GuangzhouHopeFeedCo.,LtdEnvironmentalImpactReportonConstructionProjectofGuangzhouHopeFeedCo.,LtdPanyuDistrictBureauofEnvironmentalProtection,GuangzhouJanuary12,2007Sui(Pan)huanguanying[2007]No.52LetterregardingApprovalOpinionsonEnvironmentalImpactReportontheConstructionProjectofOneNew10t/hBiomassbriquette-firedDedicatedBoilerofGuangzhouHopeFeedCo.,LtdNanshaDevelopmentZoneDistrictBureauofEnvironmentalProtection,GuangzhouJuly08,2015Suinankaihuanguanying[2015]No.227LetterregardingApprovalOpinionsonEnvironmentalImpactReportonSteamBoilerBiomassGasificationProjectofGuangzhouHopeFeedCo.,LtdNanshaDevelopmentZoneBureauofAdministrativeExaminationandApproval,GuangzhouOctober16,2018Suinanshanpihuanping[2018]No.160LetterregardingApprovalOpinionsonEnvironmentalImpactReportonthe6NewFeedProductionLinesProjectofGuangzhouHopeFeedCo.,LtdNanshaDevelopmentZoneBureauofAdministrativeExaminationandApproval,GuangzhouOctober18,2019Suinanshanpihuanping[2019]No.26035ChengduXiwangFoodCo.,LtdLow-temperatureMeatProcessing(constructionprojectofphase1andphase2)XinjinCountyBureauofEnvironmentalProtectionSeptember08,2009Xinhuanyan2009-17Low-temperatureMeatProcessing(constructionprojectofphase3)XinjinCountyBureauofEnvironmentalProtectionSeptember08,2009Xinhuanyan2009-18Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd220ApprovalofEnvironmentalImpactAssessmentonthe3000t/aQuickFrozenPreparedFoodProductionLineRenovationProjectXinjinCountyBureauofAdministrativeExaminationandApprovalJanuary05,2016Xinshenyuanhuanping2006-01New35000t/aHigh-temperatureMeatProductionLineRenovationProjectXinjinCountyBureauofEnvironmentalProtectionJuly03,2014Xinhuanjianfu2014-6737HongyaMeihaoFoodCo.,LtdApprovalofEnvironmentalImpactReportonMeatFoodProcessingandProductionLineConstructionProjectHongyaCountyBureauofEnvironmentalProtectionApril20,2007Honghuanjian[2007]No.10ContingencyPlanforEnvironmentalEmergenciesNo.CompanynameFiledornotFilingauthorityFilingNo.Time1LinyiLiuheFoodCo.,LtdFiledLinyiCountyBureauofEnvironmentalProtection3711424-2019-037-LNovember20192QiuxianLiuheKangyuanFoodCo.,LtdFiledQiuCountyBureauofEnvironmentalProtection031020180913September20183LinyiLiuheHongchenFarmingCo.,LtdFiledLanshanDistrictBureauofEnvironmentalProtection1302-2019-078-LTuesday,December10,20194LanlingNewHopeLiuheHongjunFoodCo.,LtdFiledLanlingCountyBureauofEnvironmentalProtection371327-2019-03-LMonday,March04,20195PingyiRefrigerationFactoryofShandongNewHopeLiuheGroupCo.,LtdFiledPingyiCountyBureauofEnvironmentalProtection371326-2018-012-LSaturday,May05,20186QingdaoTianrunFoodCo.,LtdFiledPingduCityBureauofEnvironmentalProtection370283-20170515-079-MMonday,May15,20177XiaoyiNewHopeLiuheFoodCo.,LtdInprogress141181-2019-0013-MMonday,May06,20198YishuiNewHopeLiuheFoodCo.,LtdFiledYishuiCountyBureauof371323-2019-012-MThursday,October24,2019Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd221EnvironmentalProtection9GuantaoLiuheFoodCo.,LtdFiledHandanCityEmergencyHeadquartersforHeavilyPollutedWeathers130433-Q7-2017-164Monday,April24,201710BinzhouLiuheLongdaFarmingCo.,LtdFiledBinzhouCityBureauofEnvironmentalProtection371602-2019-0001-LFriday,January04,201911WudiLiuheXinyangFoodCo.,LtdInprogress12ZoupingLiuheAnimalHusbandryCo.,LtdFiledZoupingCountyBureauofEnvironmentalProtection371626-2016-084-LMonday,May23,201613ShanxianLiuheFeedCo.,LtdFoodBranchFiledShanCountyBureauofEnvironmentalProtectionSXLHHB-016/2/201714CaoxianLiuheFoodCo.,LtdInprogress15JiaxiangNewHopeLiuheFoodCo.,LtdFiledJiaxiangCountyBureauofEnvironmentalProtection370829-001-MMonday,January07,201916YunchengLiuheFoodCo.,LtdFiledYunchengCountyBureauofEnvironmentalProtection371725-2019-022-LDecember25,201917AnshanLiuheFoodCo.,LtdFiledTai’anCountyBureauofEnvironmentalProtection210321-2017-007-LWednesday,March29,201718PanjinLiuheFarmingCo.,LtdFiledDawaDistrictBureauofEnvironmentalProtection,PanjinCity211121-2017-03-LFriday,April21,201719DongeLiuheLvjiaFoodCo.,LtdFiledDongeCountyBureauofEnvironmentalProtection91371524554382151H001Y12/4/2018Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd22220LiaochengLiuheRongdaFarmingCo.,LtdFiledGaotangCountyBureauofEnvironmentalProtection913715267986527441001Q12/13/201821ShenxianNewHopeLiuheQingsizhaiFoodCo.,LtdFiledShenCountyBureauofEnvironmentalProtection91371522081794657Y001X12/14/201822YangguLiuheLuxinFoodCo.,LtdFiledYangguCountyBureauofEnvironmentalProtection91371521684826830M001Q12/3/201823WeifangTianhuiFoodCo.,LtdFiledShouguangCityBureauofEnvironmentalProtection370783-2018-058MTuesday,January30,201824WeifangHeshengyuanFoodCo.,LtdFiledAnqiuCityBureauofEnvironmentalProtection370784-2018-045-LWednesday,October24,201825LuoyangLiuheHuiquanFoodCo.,LtdFiledLuoyangCityBureauofEnvironmentalProtection410381201402January25,201926HebiLiuheZhizhenFoodCo.,LtdFiledHebiCityBureauofEnvironmentalProtection’sHeadquartersforEnvironmentalEmergencies4016212017008HFriday,July28,201727LaiwuNewHopeLiuheFoodCo.,LtdFiledLaiwuBureauforConstructionandDevelopmentofAgriculturalHigh-techIndustryDemonstrationZone371202(AHIDZ)-2018-011-larger[larger-air(Q1)+ordinary-water(Q1)]December24,201828DezhouLiuheZhikangFoodCo.,LtdFiledDezhouCityBureauofEcologicalEnvironmentLingchengBranch3714212019023LWednesday,November20,2019Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd22329FeixianLiuheHuahaiFoodCo.,LtdFiledFeiCountyBureauofEnvironmentalProtection371325-2017-030-LAugust23,201730FuxinLiuheFarmingCo.,LtdFoodBranchFiledFuxinCityBureauofEnvironmentalProtection7/1/201831BeijingKingheyFoodCo.,LtdFiledPingguDistrictBureauofEnvironmentalProtection110117-2015-024-MNovember201532HebeiKingheyMeatIndustryCo.,LtdFiledNangongCityBureauofEnvironmentalProtection2019-12-MDecember201933LiaoningKingheyFoodCo.,LtdFiledShenyangCityBureauofEnvironmentalProtectionPuheNewTownBranch210116-2017-029-LNovember201734GuangzhouHopeFeedCo.,LtdNotfiled(expertpanelsinvitedforreview)June201735ChengduXiwangFoodCo.,LtdFiledEnvironmentalLawEnforcementBrigadeofXinjinCounty5101322017036LMay201736HongyaMeihaoFoodCo.,LtdFiledEnvironmentalLawEnforcementBrigadeofHongyaCounty5114232019006-LMarch2019In-houseEnvironmentalMonitoringProgramCompanynameMonitoringpointMonitoreditemMonitoringmethodMonitoringfrequencyStandardsadoptedEmissionlimitsAnalyticmethodsSourceofmethodLinyiLiuheDischargeoutletsofCODOnlinemonitoringOnceper6hoursWaterPollutant450mg/LDichromateprocessHJ828-2017Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd224FoodCo.,LtdsewagetreatmentstationTotalnitrogenDischargeStandardforMeatProcessingIndustryGB13457-92andagreementswithsewagetreatmentplant50mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen35mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous6mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter200mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand120mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BoilerdischargeoutletsNitrogenoxidesManualmonitoringOncepermonthBoilerAirPollutantDischargeStandardGB13271-2014,BoilerAirPollutantDischargeStandard150mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014SulfidedioxideOnceperyear50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes10mg/Nm3GravimetricmethodHJ/T398-2007Ringelman1RingelmanfumeblacknesschartHJ/T398-2007Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd225blacknessDB372374-2018BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993QiuxianLiuheKangyuanFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursWaterPollutantDischargeStandardforMeatProcessingIndustryGB13457-92andagreementswithsewagetreatmentplant450mg/LDichromateprocessHJ828-2017Ammonianitrogen35mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter200mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand120mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BoilerdischargeoutletsNitrogenoxidesManualmonitoringOncepermonthBoilerAirPollutantDischargeStandardGB13271-2014,BoilerAirPollutant150mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide1times/year50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Particulate10mg/Nm3GravimetricmethodHJ/T398-2007Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd226matterDischargeStandardDB372374-2018BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,20Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993LinyiLiuheHongchenFarmingCo.,LtdDischargeoutletsofsewagetreatmentstationCODManualmonitoringOnceperhalfayearWaterPollutantDischargeStandardforMeatProcessingIndustryGB13457-92andagreementswithsewagetreatmentplant500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pH6-8.5GlasselectrodemethodGB6920-1986Suspendedsolids300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animaland50mg/LInfraredspectrophotometryHJ637-2012Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd227vegetableoilsColiformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BoilerdischargeoutletsNitrogenoxidesManualmonitoringOncepermonthBoilerAirPollutantDischargeStandardGB13271-2014,BoilerAirPollutantDischargeStandardDB372374-2018200mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide1times/year50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes10mg/Nm3GravimetricmethodHJ/T398-2007Ringelmanblackness1RingelmanfumeblacknesschartHJ/T398-2007BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,20CateringIndustryOilFumeEmissionStandard(Trial)GB18483-2001Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993LanlingNewHopeLiuheHongjunFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursNoticeonApprovalandIssueoftheModificationFormsforfourStandardsincludingtheComprehensiveEmissionStandardforWaterPollutants50mg/LDichromateprocessHJ828-2017Totalnitrogen20mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen5mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosph0.3mg/LAmmoniummolybdateHJ671-2013Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd228orousalongtheSouth-to-NorthWaterTransferProjectofShandongProvince,Luzhijianbiaofa[2011]No.35,WaterPollutantDischargeStandardforMeatProcessingIndustryGB13457-92spectrophotometricmethodpH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOncepermonth20mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand10mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils3mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BoilerdischargeoutletsNitrogenoxidesManualmonitoringOncepermonthBoilerAirPollutantDischargeStandardDB372374-2018200mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide1times/year50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes10mg/Nm3GravimetricmethodHJ/T398-2007Ringelmanblackness1RingelmanfumeblacknesschartHJ/T398-2007BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-9320TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993PingyiRefrigeDischargeoutletsofCODOnlinemonitoringOnceper6hoursWaterQuality500mg/LDichromateprocessHJ828-2017Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd229rationFactoryofShandongNewHopeLiuheGroupCo.,LtdsewagetreatmentstationTotalnitrogenStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-9270mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter200mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BoilerdischargeoutletsNitrogenoxidesManualmonitoringOncepermonthBoilerAirPollutantDischargeStandardDB372374-2018200mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide1times/year50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes10mg/Nm3GravimetricmethodHJ/T398-2007Ringelman1RingelmanfumeblacknesschartHJ/T398-2007Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd230blacknessBatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993QingdaoTianrunFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursComprehensiveEmissionStandardofWaterPollutantsinthePeninsulaBasinofShandongProvinceDB37/676-2007,WaterPollutantEmissionStandardforMeatProcessingIndustryGB13457-9260mg/LDichromateprocessHJ828-2017Totalnitrogen30mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen10mg/LNessler’sreagentspectrophotometryHJ535-2009Phosphates1mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pHJune9GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOncepermonth30mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand20mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils5mg/LInfraredspectrophotometryHJ637-2012Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd231Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BoilerdischargeoutletsNitrogenoxidesManualmonitoringOnceperhalfayearCateringIndustryOilFumeEmissionStandardGB18483-2001ShandongProvincialBoilerAirPollutantEmissionStandard"Ultra-lowEmissionStandardNo.2ModificationFormLuzhijianbiaofa[2016]No.46.200mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes10mg/Nm3GravimetricmethodHJ/T398-2007Dyeingandfinishingfumes2.0mg/Nm3CateringIndustryOilFumeEmissionStandardGB18483-2001BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993XiaoyiNewHopeLiuheFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper4hoursSurfaceWaterEnvironmentalQualityStandardGB3838-2002Pollutant40mg/LDichromateprocessHJ828-2017Ammonianitrogen2.0mg/LNessler’sreagentspectrophotometryHJ535-2009pHManualmonitoringOncepermonth6-9GlasselectrodemethodGB6920-1986Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd232SuspendedsolidsDischargeStandardforUrbanSewageTreatmentPlantsGB18918-200210mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand10mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils1mg/LInfraredspectrophotometryHJ637-2012Coliformgroups1000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012BoilerdischargeoutletsNitrogenoxidesManualmonitoringOnceperhalfayearBoilerAirPollutantDischargeStandardGB13271-2014,ComprehensiveAirPollutantDischargeStandardGB16297-1996,150mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes10mg/Nm3GravimetricmethodHJ/T398-2007Ringelmanblackness1RingelmanfumeblacknesschartHJ/T398-2007DischargeoutletsforodortreatmentOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd233(ammoniagas)Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993YishuiNewHopeLiuheFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursWaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter200mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischarge20TriangleodorbagmethodGB/T14675-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd234Ammonia(ammoniagas)StandardGB14554-93,1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993GuantaoLiuheFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursDischargeStandardforUrbanSewageTreatmentPlants(GB18918-2002)MeatProcessingIndustryWaterPollutantDischargeStandard(GB13457-92)WaterQualityStandardforFarmlandIrrigation(GB5084-2005)DryFarmingStandard.50mg/LDichromateprocessHJ828-2017Totalnitrogen/Determinationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen5mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous/AmmoniummolybdatespectrophotometricmethodHJ671-2013pHManualmonitoringOncepermonth6-8.5GlasselectrodemethodGB6920-1986Suspendedsolids10mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand10mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils1mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd235BoilerdischargeoutletsNitrogenoxides1times/yearBoilerAirPollutantDischargeStandard(GB13271-2014)200mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011FumesOncepermonth10mg/Nm3GravimetricmethodHJ/T398-2007DischargeoutletsforodortreatmentOdorconcentrationOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993DischargeoutletsforcanteenfumesFumesCateringIndustryOilFumeEmissionStandardGB18483-20012.0mg/Nm3CateringIndustryOilFumeEmissionStandardGB18483-2001BatterylimitodorOdorconcentrationMalodorousPollutantDischargeStandardGB14554-93,20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993BinzhouLiuheLongdaFarmingCo.,LtdDischargeoutletsofsewagetreatmentstationCODManualmonitoringOnceperhalfayearWaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochlorideHJ668-2013Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd236MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92spectrophotometryAmmonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986Suspendedsolids400mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand300mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils60mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012DischargeoutletsforodortreatmentOdorconcentrationMalodorousPollutantDischargeStandardGB14554-93,2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd237WudiLiuheXinyangFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012DischargeoutletsforodortreatmentOdorconcentrationMalodorousPollutantDischargeStandardGB14554-93,2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcent20TriangleodorbagmethodGB/T14675-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd238rationAmmonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993ZoupingLiuheAnimalHusbandryCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursWaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009pHManualmonitoringOnceperhalfayear6-8.5GlasselectrodemethodGB6920-1986Suspendedsolids300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BatterylimitodorOdorconcentrationMalodorousPollutantDischarge20TriangleodorbagmethodGB/T14675-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd239Ammonia(ammoniagas)StandardGB14554-93,1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993ShanxianLiuheFeedCo.,LtdFoodBranchDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursWaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,NoticeontheApprovalandPublicationoftheModificationListofFourStandards,IncludingtheComprehensiveDischargeStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectofShandongProvince,Luzhijianbiaofa[2011]No.35,500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen21mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Totalsaltcontent1600mg/LGravimetricmethodHJ/T51-1999Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd240NoticeontheApprovalandIssuanceofthemodificationlistoffourstandardsincludingtheComprehensiveDischargeStandardforWaterPollutantsalongtheSouth-to-NorthWaterTransferProjectofShandongProvince,addingthelimitsoftotalsaltcontentindicator,Luzhijianbiaofa[2014]No.7BoilerdischargeoutletsNitrogenoxidesOnceperhalfayearBoilerAirPollutantEmissionStandardDB372374-2018,ShandongProvincialBoilerAirPollutantEmissionStandard"Ultra-low100mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes10mg/Nm3GravimetricmethodHJ/T398-2007Ringelmanblackness1RingelmanfumeblacknesschartHJ/T398-2007Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd241EmissionStandardNo.2ModificationFormLuzhijianbiaofa[2016]No.46ComprehensiveAirPollutantDischargeStandardGB16297-1996DischargeoutletsforodortreatmentOdorconcentrationMalodorousPollutantDischargeStandardGB14554-93,2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993CaoxianLiuheFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursWaterQualityStandardforSewageDischargedintoUrbanSewersGB/T300mg/LDichromateprocessHJ828-2017AmmonianitrogenManualmonitoringOnceperhalfayear21mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd242Suspendedsolids31962-2015,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups/Multi-tubefermentationandfiltrationmembraneHJ637-2012BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993JiaxiangNewHopeLiuheFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursMeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd243pHManualmonitoringOnceperdayComprehensiveSewageDischargeStandardGB8978-19966-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsOnceperquarter200mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups/Multi-tubefermentationandfiltrationmembraneHJ637-2012DischargeoutletsforodortreatmentOdorconcentrationOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,ComprehensiveAirPollutantDischargeStandardGB16297-19962000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993YunchengLiuheFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursMeatProcessingIndustryWaterPollutantEmission60mg/LDichromateprocessHJ828-2017Totalnitrogen20mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andHJ668-2013Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd244StandardGB13457-92WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,ComprehensiveSewageDischargeStandardGB8978-1996N-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryAmmonianitrogen10mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pHManualmonitoringOnceperday6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsOnceperquarter30mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand20mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils5mg/LInfraredspectrophotometryHJ637-2012Coliformgroups5000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012BoilerdischargeoutletsNitrogenoxidesOnceperhalfayearBoilerAirPollutantDischargeStandardDB372374-2018,ComprehensiveAirPollutantDischargeStandardGB16927-1996100mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes10mg/Nm3GravimetricmethodHJ/T398-2007Ringelmanblackness1RingelmanfumeblacknesschartHJ/T398-2007AnshanDischargeCODOnlineOnceperComprehens300mg/LDichromateHJ828-2017Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd245LiuheFoodCo.,Ltdoutletsofsewagetreatmentstationmonitoring6hoursiveSewageDischargeStandardDB21/1627-2008MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015,processAmmonianitrogen30mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Dissolvedtotalsolids2000mg/LWaterqualitytestmethodsandstandardsforurbansewageCJ/T51Coliformgroups10000/LWaterqualitytestmethodsandstandardsforurbansewageCJ/T51BoilerdischargeoutletsNitrogenoxidesOncepermonthBoilerAirPollutantDischargeStandardGB13271-2014,ComprehensiveAirPollutantDischargeStandardGB16297-1996400mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Mercuryanditscompounds0.05mg/Nm3ColdatomicabsorptionspectrometryHJ543-2009Sulfidedioxide400mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes80mg/Nm3GravimetricmethodHJ/T398-2007Ringelmanblackness1RingelmanfumeblacknesschartHJ/T398-2007BatterylimitsOdorconcentrationMalodorousPollutantDischarge20TriangleodorbagmethodGB/T14675-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd246Ammonia(ammoniagas)StandardGB14554-93,1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993Particulatematter1mg/Nm3GravimetricmethodGB/T15432-1995PanjinLiuheFarmingCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursComprehensiveSewageDischargeStandardDB21/1627-2008,MeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92,50mg/LDichromateprocessHJ828-2017Ammonianitrogen8mg/LNessler’sreagentspectrophotometryHJ535-2009Totalnitrogen15mg/LGas-PhaseMolecularAbsorptionSpectrometryHJ/T199-2005pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOncepermonth20mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand10mg/LDilutionandinoculationmethodHJ505-2009Dissolvedtotalsolids2000mg/LWaterqualitytestmethodsandstandardsforurbansewageCJ/T51Animalandvegetableoils20mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000/LWaterqualitytestmethodsandstandardsforurbansewageCJ/T51BoilerdischargeoutletsNitrogenBoilerAirPollutant400mg/Nm3Non-dispersiveinfraredabsorptionHJ692-2014Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd247oxidesDischargeStandardGB13271-2014methodMercuryanditscompounds0.05mg/Nm3ColdatomicabsorptionspectrometryHJ543-2009Sulfidedioxide400mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes80mg/Nm3GravimetricmethodHJ/T398-2007Ringelmanblackness1RingelmanfumeblacknesschartHJ/T398-2007BatterylimitsOdorconcentrationMalodorousPollutantDischargeStandardGB14554-93,20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993Particulatematter1mg/Nm3GravimetricmethodGB/T15432-1995DongeLiuheLvjiaFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODManualmonitoringOnceperquarterNoticeonApprovalandPublicationoftheModificationFormsforfourstandardsincludingtheComprehensiveEmissionStandardof60mg/LDichromateprocessHJ828-2017Ammonianitrogen10mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986Suspendedsolids30mg/LGravimetricmethodGB11901-895-daybiochemicaloxygen20mg/LDilutionandinoculationmethodHJ505-2009Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd248demandWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectofShandongProvince(Luzhijianbiaofa[2011]35),MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-92Animalandvegetableoils5mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012DischargeoutletsforodortreatmentOdorconcentrationOnceperhalfayearMalodorousPollutantEmissionStandardGB14554-93,NoticeontheImplementationofSpecialEmissionLimitsofAirPollutantsinBeijing-Tianjin-HebeiAirPollutionTransmissionChannelCities(Ministryof2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd249EnvironmentalProtectionNoticeNo.9,2018)LiaochengLiuheRongdaFarmingCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015500mg/LDichromateprocessHJ828-2017Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups/Multi-tubefermentationandfiltrationmembraneHJ637-2012DischargeoutletsforodortreatmentOdorconcentrationOnceperhalfayearMalodorousPollutantEmissionStandardGB14554-93,NoticeontheImplementationofSpecialEmissionLimitsofAirPollutantsin2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd250(ammoniagas)Beijing-Tianjin-HebeiAirPollutionTransmissionChannelCitiesHydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993ShenxianNewHopeLiuheQingsizhaiFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursDownIndustryWaterPollutantEmissionStandardGB21901-2008,NoticeonApprovalandIssueofModificationFormsforfourstandardsincludingtheComprehensiveEmissionStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferLineofShandongProvince"uzhijianbiaofa[2011]35,WaterPollutantDischargeStandardforMeat60mg/LDichromateprocessHJ828-2017Ammonianitrogen10mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOncepermonth30mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand15mg/LDilutionandinoculationmethodHJ505-2009anionicsurfactant3mg/Lmethylenebluespectrophotometricmethod/Animalandvegetableoils5mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd251ProcessingIndustryGB13457-92DischargeoutletsforodortreatmentOdorconcentrationOnceperhalfayearMalodorousPollutantEmissionStandardGB14554-93,No.2ModificationFormforShandongProvincialComprehensiveEmissionStandardforRegionalAirPollutantsDB37/2376-2013,Luzhijianbiaofa(2016)No.462000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Particulatematter10mg/Nm3GravimetricmethodGB/T15432-1995Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993YangguLiuheLuxinFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursDownIndustryWaterPollutantEmissionStandardGB21901-2008,NoticeonApprovalandIssueofModificationFormsforfourstandardsincludingtheComprehens50mg/LDichromateprocessHJ828-2017Ammonianitrogen5mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous0.3mg/LN-NaphthylethylenediamineDihydrochloridespectrophotometricmethodHJ667-2013pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOncepermonth20mg/LGravimetricmethodGB11901-895-daybioche10mg/LDilutionandinoculationmethodHJ505-2009Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd252micaloxygendemandiveEmissionStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferLineofShandongProvince"uzhijianbiaofa[2011]35,WaterPollutantDischargeStandardforMeatProcessingIndustryGB13457-92anionicsurfactant3mg/Lmethylenebluespectrophotometricmethod/Animalandvegetableoils3mg/LInfraredspectrophotometryHJ637-2012Coliformgroups5000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012DischargeoutletsforodortreatmentOdorconcentrationOnceperhalfayearMalodorousPollutantEmissionStandardGB14554-93,No.2ModificationFormforShandongProvincialComprehensiveEmissionStandardforRegionalAirPollutantsDB37/2376-2013,Luzhijianbiaofa(2016)No.2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Particulatematter10mg/Nm3GravimetricmethodGB/T15432-1995Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogen0.06mg/Nm3GaschromatographyGB/T14678-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd253sulfide46WeifangTianhuiFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015500mg/LDichromateprocessHJ828-2017Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalnitrogen70mg/LGas-PhaseMolecularAbsorptionSpectrometryHJ/T199-2005Totalphosphorous8mg/LN-NaphthylethylenediamineDihydrochloridespectrophotometricmethodHJ667-2013pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009anionicsurfactant20mg/Lmethylenebluespectrophotometricmethod/Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups5000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012DuckfeathershopParticulatematterOnceperhalfayearShandongProvincialComprehensiveDischargeStandardfor30mg/Nm3GravimetricmethodGB/T15432-1995BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd254Ammonia(ammoniagas)RegionalAirPollutantsDB37/2376-2013,MalodorousPollutantDischargeStandardGB14554-93BoilerAirPollutantDischargeStandardDB372374-20181.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993WeifangHeshengyuanFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92WaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015500mg/LDichromateprocessHJ828-2017Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalnitrogen70mg/LGas-PhaseMolecularAbsorptionSpectrometryHJ/T199-2005Totalphosphorous8mg/LN-NaphthylethylenediamineDihydrochloridespectrophotometricmethodHJ667-2013pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetab50mg/LInfraredspectrophotometryHJ637-2012Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd255leoilsColiformgroups5000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012CanteendischargeoutletsFumesOnceperhalfayearShandongProvincialComprehensiveDischargeStandardforRegionalAirPollutantsDB37/2376-2013,MalodorousPollutantDischargeStandardGB14554-93BoilerAirPollutantDischargeStandardDB372374-20182.0mg/Nm3CateringIndustryOilFumeEmissionStandardGB18483-2001DischargeoutletsforodortreatmentOdorconcentration2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)8.7kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.58kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993LuoyangLiuheHuiquanFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92ComprehensiveSewageDischargeStandardGB8978-199670mg/LDichromateprocessHJ828-2017Ammonianitrogen15mg/LNessler’sreagentspectrophotometryHJ535-2009pHManualmonitoringOncepermonth6-8.5GlasselectrodemethodGB6920-1986Totalphosphorous0.5mg/LAmmoniummolybdatespectrophotometricmethodHJ670-2013Suspendedsolids60mg/LGravimetricmethodGB11901-89Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd2565-daybiochemicaloxygendemand25mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils15mg/LInfraredspectrophotometryHJ637-2012Coliformgroups5000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012CanteenexhaustoutletsFumesOnceperhalfayearCateringIndustryOilFumeEmissionStandard2.0mg/Nm3CateringIndustryOilFumeEmissionStandardGB18483-2001BatterylimitodorOdorconcentrationMalodorousPollutantDischargeStandardGB14554-9320TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993HebiLiuheZhizhenFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper2hoursMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92,ComprehensiveSewageDischargeStandardGB8978-1996,350mg/LDichromateprocessHJ828-2017Ammonianitrogen35mg/LNessler’sreagentspectrophotometryHJ535-2009pHManualmonitoringOncepermonth6-8.5GlasselectrodemethodGB6920-1986TotalphosphorousOnceperday4mg/LAmmoniummolybdatespectrophotometricmethodHJ670-2013SuspendedsolidsOncepermonth60mg/LGravimetricmethodGB11901-89Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd2575-daybiochemicaloxygendemandconcentrationlimitsspecifiedinsewagedischargeagreements25mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils15mg/LInfraredspectrophotometryHJ637-2012Coliformgroups5000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012CanteenexhaustoutletsFumesOnceperhalfayearCateringIndustryOilFumeEmissionStandard2.0mg/Nm3CateringIndustryOilFumeEmissionStandardGB18483-2001BatterylimitodorOdorconcentrationMalodorousPollutantDischargeStandardGB14554-9320TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993LaiwuNewHopeLiuheFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursWaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015500mg/LDichromateprocessHJ828-2017Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalnitrogen70mg/LN-NaphthylethylenediamineDihydrochloridespectrophotometricmethodHJ668-2013pH6.5-9.5GlasselectrodemethodGB6920-1986Totalphosphorous8mg/LAmmoniummolybdatespectrophotometricHJ670-2013Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd258methodSuspendedsolidsManualmonitoringOnceperquarter400mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand350mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils100mg/LInfraredspectrophotometryHJ637-2012BoilerexhauststacksNitrogenoxidesOnceperhalfayearShandongProvincialBoilerAirPollutantEmissionStandard"Ultra-lowEmissionStandardNo.2ModificationFormLuzhijianbiaofa[2016]No.46200mg/Nm3FixedpotentialelectrolysismethodHJ693-2014Sulfidedioxide50mg/Nm3IodometricassayHJ/T56-2000Fumes10mg/Nm3BoilerfumetestmethodGB5468-91DischargeoutletsforodortreatmentOdorconcentrationMalodorousPollutantDischargeStandardGB14554-93,2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993DezhouLiuheZhikangFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODManualmonitoringOnceperhalfayearWaterQualityStandardforSewageDischargedintoUrban500mg/LDichromateprocessHJ828-2017Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd259TotalnitrogenSewersGB/T31962-2015,MeatProcessingIndustryWaterPollutantEmissionStandardGB13457-9270mg/LN-NaphthylethylenediamineDihydrochloridespectrophotometricmethodHJ668-2013pH6.0-8.5GlasselectrodemethodGB6920-1986Totalphosphorous8mg/LAmmoniummolybdatespectrophotometricmethodHJ670-2013Suspendedsolids300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Coliformgroups/Multi-tubefermentationandfiltrationmembraneHJ637-2012Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012BoilerexhauststacksRingelmanblackness1times/yearBoilerAirPollutantDischargeStandardDB372374-2018,BoilerAirPollutantDischargeStandardGB13271-2014,Level1RingelmanfumeblacknesschartHJ/T398-2007Nitrogenoxides150mg/Nm3FixedpotentialelectrolysismethodHJ693-2014Sulfidedioxide50mg/Nm3IodometricassayHJ/T56-2000Fumes10mg/Nm3BoilerfumetestmethodGB5468-91DischargeoutletsforodortreatmentOdorconcentrationOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-92000TriangleodorbagmethodGB/T14675-1993Ammonia4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd260(ammoniagas)3,Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993FeixianLiuheHuahaiFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursNoticeonApprovalandIssueoftheModificationFormsforFourStandardsIncludingtheComprehensiveDischargeStandardforWaterPollutantsAlongtheSouth-to-NorthWaterTransferProjectofShandongProvinceLuzhijianbiaofa[2011]No.35,WaterPollutantEmissionStandardforMeatProcessingIndustryGB13457-92,ComprehensiveDischargeStandardforWater50mg/LDichromateprocessHJ828-2017Ammonianitrogen5mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous0.3mg/LN-NaphthylethylenediamineDihydrochloridespectrophotometricmethodHJ667-2013pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOncepermonth20mg/LGravimetricmethodGB11901-89Totalnitrogen20mg/LGas-PhaseMolecularAbsorptionSpectrometryHJ/T199-20055-daybiochemicaloxygendemand10mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils3mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd261PollutantsAlongtheSouth-to-NorthWaterTransferProjectinShandongProvinceDB37/599-2006,ModificationFormsDB37/599-2006forFourStandardsincludingtheComprehensiveDischargeStandardforWaterPollutantsalongtheSouth-to-NorthWatertransferProjectinShandongProvince,increasingthelimitoftotalnitrogen.BatterylimitodorOdorconcentrationOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-9320TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogen0.06mg/Nm3GaschromatographyGB/T14678-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd262sulfideFuxinLiuheFarmingCo.,LtdFoodBranchDischargeoutletsofsewagetreatmentstationCODOnlinemonitoringOnceper6hoursMeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92,ComprehensiveSewageDischargeStandardDB21/1627-2008300mg/LDichromateprocessHJ828-2017Ammonianitrogen30mg/LNessler’sreagentspectrophotometryHJ535-2009pH6-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups/FermentationmethodGB5750BoilerdischargeoutletsNitrogenoxidesOncepermonthBoilerAirPollutantDischargeStandardGB13271-2014200mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ692-2014Sulfidedioxide1times/year50mg/Nm3Non-dispersiveinfraredabsorptionmethodHJ629-2011Fumes20mg/Nm3GravimetricmethodHJ/T398-2007RingelmanblacknessClass1RingelmanfumeblacknesschartHJ/T398-2007DischargeoutletsforodortreatmentOdorconcentrationOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,2000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd263Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993BatterylimitodorOdorconcentration20TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993BeijingKingheyFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoring4times/dayComprehensiveWaterPollutantDischargeStandard(GB11/307-2013)500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8.0mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pH6.5-9GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoringOnceperquarter400mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand300mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetab50mg/LInfraredspectrophotometryHJ637-2012Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd264leoilsColiformgroups10000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012DischargeoutletsofrenderingshopNon-methanehydrocarbonsManualmonitoringOnceperhalfayearComprehensiveAirPollutantDischargeStandardDB11/501-200750mg/Nm3GaschromatographyHJ/T38-1999CanteenfumesFumesCateringIndustryOilFumeEmissionStandard(Trial)GB18483-20011mg/Nm3CateringIndustryOilFumeEmissionStandard(Trial)GB18483-2001Particulatematter5mg/Nm3ManualweighingmethodDB11/T1485Non-methanehydrocarbons10mg/Nm3GaschromatographyHJ/T38-1999HebeiKingheyMeatIndustryCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoring4times/dayComprehensiveWaterPollutantDischargeStandard(GB11/307-2013)500mg/LDichromateprocessHJ828-2017Totalnitrogen70mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitrogen45mg/LNessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8.0mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pHManualmonitoringOnceperquarter6.5-9GlasselectrodemethodGB6920-1986Suspen400mg/LGravimetricGB11901-89Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd265dedsolidsmethodPhosphates1.0mg/LSpectrophotometryHJ670-20135-daybiochemicaloxygendemand300mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils50mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000/LMulti-tubefermentationandfiltrationmembraneHJ637-2012Exhaustfunnelsofairflotationtanks,exhaustfunnelsofde-slimingshops,exhaustfunnelsofgrilles,exhaustfunnelsofwaitingpens,dischargeoutletsforharmlesstreatmentOdorconcentrationOdorousPollutantDischargeStandardGB14554-932000TriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)4.9kg/hIonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.33kg/hGaschromatographyGB/T14678-1993LiaoningKingheyFoodCo.,LtdDischargeoutletsofsewagetreatmentstationCODOnlinemonitoring4times/dayComprehensiveSewageDischargeStandardDB21/1627-2008MeatProcessingIndustryWaterPollutantDischargeStandardGB13457-9300mg/LFastdigestionspectrophotometricmethodHJ/T399-2007Totalnitrogen50mg/LDeterminationoftotalnitrogenbyflowinjectionanalysis(FIA)andN-(1-naphthyl)ethylenediaminedihydrochloridespectrophotometryHJ668-2013Ammonianitroge30mg/LNessler’sreagentspectrophotometryHJ535-2009Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd266n2Totalphosphorous5mg/LAmmoniummolybdatespectrophotometricmethodHJ671-2013pHOnceperquarter6.0-8.5GlasselectrodemethodGB6920-1986SuspendedsolidsManualmonitoring300mg/LGravimetricmethodGB11901-895-daybiochemicaloxygendemand250mg/LDilutionandinoculationmethodHJ505-2009Animalandvegetableoils60mg/LInfraredspectrophotometryHJ637-2012Coliformgroups10000Multi-tubefermentationandfiltrationmembraneHJ637-2012BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-93,ComprehensiveAirPollutantDischargeStandardGB16297-199620dimensionlessTriangleodorbagmethodGB/T14675-1993Ammonia(ammoniagas)1.5mg/Nm3IonselectiveelectrodemethodGB/T14669-1993Hydrogensulfide0.06mg/Nm3GaschromatographyGB/T14678-1993GuangzhouHopeFeedCo.,LtdBoilerchimneyParticulatematterOnlinemonitoringOnceperhourBoilerAirPollutantEmissionStandard(GB13271-2014)20mg/m3LaserbackscatteringmethodGB/T16157-1996Sulfidedioxide50mg/m3UltravioletdifferentialopticalabsorptionspectroscopyHJ/T397-2007Nitrogen200mg/m3Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd267oxidesChengduXiwangFoodCo.,LtdDischargeoutletsofsewagetreatmentstationforhigh-temperatureshops,dischargeoutletsofseptictanksoflow-temperatureshopsCODManualmonitoringOnceperhalfayearWaterQualityStandardforSewageDischargedintoUrbanSewersGB/T31962-2015MeatProcessingIndustryWaterPollutantDischargeStandardGB13457-92500mg/LDeterminationofCODforwaterquality-dichromatetitrationmethod-GB11914-1989Totalnitrogen70mg/LDeterminationoftotalnitrogenforwaterquality—continuousflow-N-NaphthylethylenediamineDihydrochloridespectrophotometryHJ667-2013Ammonianitrogen45mg/LDeterminationofammonianitrogenforwaterquality-Nessler’sreagentspectrophotometryHJ535-2009Totalphosphorous8mg/LDeterminationoftotalphosphorusforwaterquality--AmmoniummolybdatespectrophotometricmethodGB11893-1989pH6.0-8.5mg/LPortablePHmetermethodSuspendedsolids400mg/LDeterminationofsuspendedsolidsforwaterquality-gravimetricmethodGB11901-19895-daybiochemicaloxygen300mg/LDeterminationof5-daybiochemicaloxygendemandforwaterqualityFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd268demand(BOD5)—dilutionandinoculationmethodHK505-2009Animalandvegetableoils60mg/LDeterminationofpetroleumandanimalandvegetableoilsforwaterquality-infraredspectrophotometryHJ637-2012inplaceofGB/T16488-1996Coliformgroups/RapidpaperstripmethodHJ755-2015BoilerdischargeoutletsNitrogenoxidesManualmonitoringOncepermonthBoilerAirPollutantDischargeStandardGB13271-2014150mg/Nm3Determinationofnitrogenoxidesinwastegasesfromfixedpollutionsources—fixedpotentialelectrolysismethodHJ693-2014,Determinationofnitrogenoxidesinwastegasesfromfixedpollutionsources—non-dispersiveinfraredabsorptionmethodHJ692-2014SulfidedioxideOnceperyear50mg/Nm3Determinationofsulfurdioxideinwastegasesfromfixedpollutionsources—iodometryHJ/T56-2000.Determinationofsulfurdioxideinwastegasesfromfixedpollutionsources—non-dispFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd269ersiveinfraredabsorptionmethodHJ692-2014Particulatematter20mg/Nm3DeterminationofparticulatematterinwastegasesfromfixedpollutionsourcesandgaseouspollutantsamplingmethodGB/T16157-1996,determinationoftotalsuspendedparticulatematterinambientair—gravimetricmethodGB/T15432-1995RingelmanblacknessClass1Determinationofblacknessoffumesfromfixedpollutionsources—RingelmannfumeblacknesschartHJ/T398-2007BatterylimitodorOdorconcentrationManualmonitoringOnceperhalfayearMalodorousPollutantDischargeStandardGB14554-9320mg/Nm3Determinationofmalodorouspollutantsforairquality—triangleodorbagmethodGBT14675-1993Ammonia(ammoniagas)1.5mg/Nm3Determinationofnitrogeninairandwastegas--Nessler’sreagentspectrophotometryHJ533-2009Hydrogensulfide0.06mg/Nm3Determinationofhydrogensulfide,methylmercaptan,DimethylsulfideanddimethylFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd270disulfidebygaschromatographyGB/T14678-1993HongyaMeihaoFoodCo.,LtdBoilerchimneyRingelmanblacknessManualmonitoring1times/yearGB13271-2014Class1Determinationofblacknessoffumesfromfixedpollutionsources—RingelmannfumeblacknesschartHJ/T398-2007RingelmannnigrometerParticulatematter1times/yearGB13271-201420mg/m3DeterminationofparticulatematterinwastegasesfromfixedpollutionsourcesandgaseouspollutantsamplingmethodFA200410-4electronicscale(2002406)NitrogenoxidesOncepermonthGB13271-2014200mg/m3Determinationofnitrogenoxidesinwastegasesfromfixedpollutionsources—fixedpotentialelectrolysismethodZR-3260integratedautomaticfumetester(326A17071224)Sulfidedioxide1times/yearGB13271-201450mg/m3Determinationofsulfurdioxideinwastegasesfromfixedpollutionsources—fixedpotentialelectrolysismethodZR-3260integratedautomaticfumetester(326A17071224)WastewaterdischargeoutletsSuspendedsolidsManualmonitoringOnceperhalfayearGB13457-92400mg/LWaterquality—determinationofsuspendedsolidsbygravimetricmethodFA200410-4electronicscale(2002406)AmmonianitrogenOnceperhalfayearGB/T31962-201545mg/LWaterquality—determinationofammonianitrogenbyNessler’sreagentspectrophotometryUV1600UV-VISspectrophotometer(UPA16M0030)Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd271CODOnceperhalfayearGB13457-92500mg/LWaterquality—CODdetermination--dichromatetitration6B-C-typeCODdigester(SAH2017B10C-163)pHvalueOnceperhalfayearGB13457-926.0-8.5Waterquality—determinationofpHvaluebyglasselectrodemethodPH-2Fmeter(600313N0017020066)AnimalandvegetableoilsOnceperhalfayearGB13457-9260mg/LWaterquality—determinationofpetroleumandanimalandvegetableoilsbyinfraredspectrophotometryOIL460infraredpetroleumdeterminationinstrument(111IIC17020051)5-daybiochemicaloxygendemandOnceperhalfayearGB13457-92300mg/LWaterquality—determinationof5-daybiochemicaloxygendemand(BOD5)bydilutionandinoculationmethodSPX-250Bbiochemicalincubator(170407-80FecalcoliformOnceperhalfayearGB13457-92/Waterquality—determinationoftotalcoliformgroupsandfecalcoliformgroupsbyrapidpaperstripmethodPS-6000ABelectro-heatingstanding-temperaturecultivator(201606034)DisorganizedOdorconcentrationManualmonitoringOnceperhalfayearGB14554-9320dimensionlessAir—determinationofodorbytriangleodorbagmethodGB/T14675-1993AmmoniagasOnceperhalfayearGB14554-931.5mg/Nm3Ambientair—determinationofammoniabysodiumhypochloritesalicylicspectrophotometryFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd272HJ534-2009HydrogensulfideOnceperhalfayearGB14554-930.06mg/Nm3Airquality:Determinationofhydrogensulfide,methylmercaptan,DimethylsulfideanddimethyldisulfidebygaschromatographyOtherdisclosabeenvironmentalinformationNumberCompanyPollutantdischargepermitNo.DateissuedExpirydate1LinyiLiuheFoodCo.,Ltd91371424690608012M001Y12/9/201812/31/20212QiuxianLiuheKangyuanFoodCo.,Ltd91130430598257627Y3/4/20193/3/20223LinyiLiuheHongchenFarmingCo.,Ltd91371300684847260M001Q12/31/201812/30/20214LanlingNewHopeLiuheHongjunFoodCo.,Ltd91371324074412809A001Z12/31/201812/30/20215PingyiRefrigerationFactoryofShandongNewHopeLiuheGroupCo.,Ltd91371326730643307N001X12/31/201812/30/20216QingdaoTianrunFoodCo.,Ltd9137028373726158XG001R11/29/201811/28/20217XiaoyiNewHopeLiuheFoodCo.,Ltd911411815684736446001P11/5/201811/4/20218YishuiNewHopeLiuheFoodCo.,Ltd91371323676832608P001Q12/31/201812/30/20219GuantaoLiuheFoodCo.,Ltd9113043387209762634/29/20194/28/202210BinzhouLiuheLongdaFarmingCo.,Ltd91371600780754056D001X12/15/201812/14/202111WudiLiuheXinyangFoodCo.,Ltd913716237892643444001W1/1/201912/31/202112ZoupingLiuheAnimalHusbandryCo.,Ltd9137162672075787X3001Y12/17/201812/16/202113ShanxianLiuheFeedCo.,LtdFoodBranch91371722054960365G001W1/1/201912/31/202114CaoxianLiuheFoodCo.,Ltd91371721668055386B001Y1/1/201912/31/202115JiaxiangNewHopeLiuheFoodCo.,Ltd91370829MA3C7NQJ53001V12/11/201812/10/202116YunchengLiuheFoodCo.,Ltd913717257939188497001R1/1/201912/31/202117AnshanLiuheFoodCo.,Ltd91210321664575659M001R12/14/201812/13/202118PanjinLiuheFarmingCo.,Ltd91211121696196493W001R12/22/201812/21/202119DongeLiuheLvjiaFoodCo.,Ltd91371524554382151H001Y12/4/201812/3/202120LiaochengLiuheRongdaFarmingCo.,Ltd913715267986527441001Q12/13/201812/12/202121ShenxianNewHopeLiuheQingsizhaiFoodCo.,Ltd91371522081794657Y001X12/14/201812/13/202122YangguLiuheLuxinFoodCo.,Ltd91371521684826830M001Q12/3/201812/2/202123WeifangTianhuiFoodCo.,Ltd913707837961923691001R1/1/201912/31/202124WeifangHeshengyuanFoodCo.,Ltd91370784771026284D001X1/1/201912/31/202125LuoyangLiuheHuiquanFoodCo.,Ltd914103816794610724001P9/30/20189/29/2021Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd27326HebiLiuheZhizhenFoodCo.,Ltd91410621MA3X68M315001Y11/28/201811/27/202127LaiwuNewHopeLiuheFoodCo.,Ltd91371202082953517U001Q12/24/201812/23/202128DezhouLiuheZhikangFoodCo.,Ltd91371421673188095B001W1/1/201912/31/202129FeixianLiuheHuahaiFoodCo.,Ltd913713255903361016001Y12/31/201812/30/202130FuxinLiuheFarmingCo.,LtdFoodBranch91210900749795052A001V12/12/201812/11/202131BeijingKingheyFoodCo.,Ltd91110000741567725K001Z12/21/201812/20/202132HebeiKingheyMeatIndustryCo.,Ltd91130581776166315U001Z12/14/201812/13/202133LiaoningKingheyFoodCo.,Ltd91210113784575311A001Y12/20/201812/19/202134GuangzhouHopeFeedCo.,Ltd91440115618720130X001Q9/30/20199/30/202235ChengduXiwangFoodCo.,Ltd91510132621702689Y10/18/201810/17/202136HongyaMeihaoFoodCo.,Ltd91511423720844949U001P11/14/201811/13/2021OtherinformationrelatedtoenvironmentalprotectionNone2.Fulfillmentofsocialresponsibilityfortargetedpovertyalleviation(1)TargetedpovertyalleviationplanTohelpatleast1,900registeredpoverty-strickenpeopleincreaseincomethroughout2020.Basicprinciple:giveprioritiestotheobjectiveofhelpingpoorhouseholdsincreaseincomeinlinewiththeprincipleof“basedonindustryandwin-winformultiplestakeholders”Mainmeasures:I.Continueusingthe2019appraisalmeasures.Classifythemonetaryrewardsintothreelevelsbythenumberofpeopletobeliftedoutofpovertyandrewardhandsomelyhoseunitsshoulderingheavytasksofpovertyreliefandmakinghugecontributionstopovertyrelief;detailedpunishmentmeasureshavebeenformulatedforunitsandindividualswhounderperformedintermsofpovertyalleviation.II.Strengthenthesupervisoryefforts:holdthe2020targetedpovertyalleviationpromotionconferencetomakedetailedworkbreakdownforpovertyrelieftasksofeachbusinessunit.Conductonsitesupervisionforeachbusinessunit:keeptrackofsignificantpovertyalleviationprojectsinprogress,urgethemtoacceleratetheprogressandassisttheminresolvingvariousissuesanddifficultiesencountered.(2)SemiannualtargetedpovertyalleviationoutlineInthefirsthalfof2020,help988registeredpoverty-strickenpeopleincreaseincomeandgetoutofpoverty.Complete52%oftheyear-roundobjectives,expectedtoachievetheyear-roundobjectivesbytheendoftheyear.1.RelianceuponindustrialresourcesandsteadyprogressofpovertyalleviationRelyinguponthecompany’sbreedingbusinessoperations,activelyinterfacewiththelocalgovernmentsandmakeuseofthepovertyreliefpoliciesofthecentralandlocalgovernmentforregisteredpoverty-strickenpeople,findeverypossiblewaytoformcommunitiesofinterestsbetweenregisteredpoorhouseholdsandthecompany’sbreedingbusiness,bringsteadystreamsofrevenuetopoorhouseholdsandachievepovertyalleviation.Realizethewin-winsituationforthestate,companies,majorfarminghouseholdsandpoverty-strickenhouseholdsmainlythroughthe“3+N”and“4+N”povertyalleviationmodels.2.CooperationforpovertyalleviationthroughcomplementationofstrengthsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd274Inordertodrivemorepoorhouseholdstogetoutofpoverty,wejoinhandswiththird-partycompaniesandfinancialinstitutionsandothersocialactorstoconductcooperativepovertyalleviationbyusingrespectivestrengths:InZhaojueofLiangshan,Sichuan,theTekouJiaguPoverty-relievingBreedingBasebuiltbyusinpartnershipwiththePeople’sBankofChinahasdistributeddividendsseveraltimesandisnowinnormaloperation,withthewholevillageliftedoutofpoverty.InNangongofHebei,TaiqianofHenan,XiajinofShandongandBijieandHezhangofGuizhou,ourpoverty-relievingprojectshavebeencommissionedinsuccession;thecooperationwithChinaConstructionBankinMeiguofLiangshanhasalsobeenstarted;thepoverty-relievingprojectsinJingyuanofGansu,LongzhouofGuangxiandLiangqingDistrictofNanninghavecommenced;agroupofprojectshavebeencontractedinSichuanandGuangdong.Establishourbusinesspresenceinpoverty-strickencounties,townsandvillagesthroughthe“3+N”and“4+N”povertyalleviationmodelssoastoenablethepoorpeopletheretoreceivecontinuousincomeandsteadilygetoutofpoverty.Wealsoplantodrivelocalindustriesandeconomiestoachievebenigndevelopment.3.OnepolicytailoredforoneregionAllbusinessunitsareencouragedtoadvancethetargetpovertyalleviationeffortsinlightofrespectivebusinesscharacteristicsandlocalrealitybyusingapproachessuitableforlocalreality,thustrulyachievingprecisepolicyimplementationand“onepolicytailoredforoneregion”.Forexample,intermsofpovertyreliefthroughmeatduckbreeding:co-builtbreedingbasesinShanCountyofShandong,whereguaranteecompaniesdrivethepoorhouseholdstoincreaseincomethroughcooperatives;foranotherexample,intermsofpovertyreliefthroughpigfarming,breedingbaseswerebuiltbymultiplestakeholdersinZhaojueandmajorfarminghouseholdsledthepovertyreliefeffortsinYilong;demonstrationfarmswerebuiltwiththegovernmentindustrialpovertyreliefinvestmentsinBijieofGuizhou,XiajinofShandong,TaiqianofHenanandLongzhouofGuangxi,managedbythecompanyuponrequestofthesponsors.DemonstrationfarmingbaseswerebuiltwithcollectiveinvestmentsinYijunofShaanxiandJingyuanofGansu,wherecooperativebusinessoperationsdrivethepoorhouseholdstoincreasetheirincome.Regardlessofthewayofpovertyrelief,thepovertyreliefeffortsaremostsuitableforthelocalconditionsandhavegeneratedgoodresults.(3)ResultsoftargetedpovertyalleviationIndicatorUnitofmeasureQuantity/progressI.Overallsituation----------Wherein:1.funds10,000Yuan97,8002.NumberofregisteredpoorpeopleliftedoutofpovertyPerson988II.Itemizedinvestment----------1.Povertyalleviationthroughindustrialdevelopment----------Wherein:1.1.Typesofprojectsofpovertyalleviationthroughindustrialdevelopment-----Povertyreliefthroughfarmingandforestryindustries1.2NumberofprojectsofpovertyalleviationthroughindustrialdevelopmentProject71.3Amountinvestedinprojectsofpovertyalleviationthroughindustrialdevelopment10,000Yuan97,8001.4NumberofregisteredpoorpeopleliftedoutofpovertyPerson9882.Povertyreliefthroughtransferofemployment----------3.Povertyreliefthroughrelocationofimpoverishedresidents----------Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd2754.Povertyreliefthrougheducation----------5.Povertyreliefthroughhealthcare----------6.Povertyreliefthroughecologicalprotection----------7.Bottom-linesafeguards----------8.Povertyreliefthroughsocialundertakings----------9.Otherprojects----------III.Awardsreceived(contentandlevel)----------(4)SubsequenttargetedpovertyalleviationplansInthesecondhalfoftheyear,thecompanywillhelpatleast1,000registeredimpoverishedhouseholdscontinuouslyincreasetheirincomeandachievetheyear-roundobjectiveofhelpingnolessthan1,900individuals..Continuetheonsitesupervisionactivities:keeptrackofsignificantpovertyalleviationprojectsinprogress,urgethemtoacceleratetheprogressandassisttheminresolvingvariousissuesanddifficultiesencountered.Urgethecontractedprojectstobeimplementedataquickenedpace.Securemorecontractedprojects.XVII.Remarksonothersignificantmatters√Applicable□Notapplicable1.WiththeapprovalofCSRCthroughtheregulatorypermitNo:[2019]1902,thecompanypubliclyissued40millionconvertiblecorporatebondswithparvalueof100Yuaneachforatotalissuedamountof4,000millionYuanonJanuary3,2020.TheconvertiblecorporatebondsofthecompanywerelistedfortradingonShenzhenStockExchangeasofFebruary4,2020underthebondabbreviation“HopeConvertibleBonds”andbondcode“127015”fordurationfromJanuary3,2020toJanuary2,2026,andthedurationofdebt-to-equityswapfromJuly9,2020toJanuary2,2026.Duetoimplementationofthe2019equitydistributionschemebythecompany,thedebt-to-equitypriceofconvertiblecorporatebondswasadjustedfrom19.78Yuanpershareto19.63YuanpershareasofJune19,2020.2.Toincreasetheworkefficiencyandenhancestrategiccooperationwithmajorrawmaterialssuppliers,accordingtotheactualneedsofthepurchasingbusiness,thecompanygaveguaranteesforpaymentforrawmaterialspurchaseofupto2,500millionYuaninfavoroftherawmaterialspurchaseandsalecontractsexecutedbetween104subsidiariesand33feedstuffsuppliersincludingCOFCOTradeCo.,Ltdwithintheperiodofauthorization,accountingfor9.59%ofthemostrecentlyaudited(2019)26,061.6899millionYuannetassetsofthecompanyattributabletoshareholdersofthelistedcompany.Thismatterwasdeliberatedandapprovedbythe2019annualgeneralmeetingofthecompany.3.Inlightofitsoperationalreality,thecompanyexpectsthatitanditsmajority-ownedsubsidiarieswillprovideatotalof64,500.00millionYuanjointliabilitywarrantyguaranteesforitssubsidiariesin2020,accountingfor247.49%ofthemostrecentlyaudited(2019)26,061.6899millionYuannetassetsofthecompanyattributabletoshareholdersofthelistedcompany,ofwhichthefinancingguaranteesprovidedbythecompany’smajority-ownedsubsidiariestotal58900.00millionYuan(includingnomorethan5billionYuanguaranteesintotalprovidedtonewly-establishedornewly-addedsubsidiaries)andthefinancingguaranteesprovidedtobreedingfarms(households)ordistributorstotal5,600.00millionYuan.Thismatterwasdeliberatedandapprovedbythe2019annualgeneralmeetingofthecompany.4.Thecompanyanditsaffiliatesexecutedrelateddailypurchaseandsalesagreementsinlightofactualoperationalneeds,wherebythecompanypurchasesfeedstuff,dairyproducts,farmingequipmentandotherproductsfromitsaffiliatesandtheirFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd276subsidiariesfornomorethanRMB671.00millionYuanin2020andthetotalamountactuallyincurredofthesametypeoftransactionswas30.5653millionYuanin2019;thecompanyreceivedservicesworthnomorethanRMB1,131.70millionYuanfromitsaffiliatesandtheirsubsidiaries,whilethetotalamountactuallyincurredofthesametypeoftransactionswas168.2485millionYuanin2019;thecompanyleasedassetsofnomorethanRMB6millionYuanfromitsaffiliates,whilethetotalamountactuallyincurredofthesametypeoftransactionswas3.5263millionYuanin2019;thecompanysoldfeed,packagingmaterials,meatproductsanddelisofnomorethanRMB289millionYuantoitsaffiliatesandtheirsubsidiaries,whilethetotalamountactuallyincurredofthesametypeoftransactionswas126.6003millionYuanin2019Thismatterwasdeliberatedandapprovedbythe2019annualgeneralmeetingofthecompany.5.Tosolidlyadvanceitspigfarmingstrategy,guaranteethefinancialneedswillbemetinthecompany’spigfarmingprojectinvestmentandconstructionwhileexpandingnewfinancingchannels,adjustingitsdebtstructureandreducingitsfundingcost,thecompanydecidedtoissuerenewablecorporatebondspubliclytoprofessionalinvestors.ThescaleofthisbondissueisnomorethanRMB10billionYuan(inclusive),plannedtobeissuedinphases,withthefirstphaseofbondissuenomorethanRMB3billionYuan(inclusive)andbasictermofnomorethan5years(inclusive),tobeissuedintheformoffixedinterestrate,withthenominalinterestratestobedeterminedbasedonthemarketconditionsatthetimeofissue.Currently,thecompanyhasreceivedthe“ApprovalofRegistrationofRenewableCorporateBondstobeIssuedbytheCompanyPubliclytoProfessionalInvestors”fromCSRC,approvingthecompany’sapplicationforregistrationofnomorethan10billionYuanrenewablecorporatebondstobepubliclyissuedtoprofessionalinvestors,whichwillbeissuedinphases,withthefirstphasetobecompletedwithin12monthsofdateofCSRC’sapprovalofregistrationandtheremainingphasestobecompletedwithin24monthsofdateofCSRC’sapprovalofregistration6.Tosolidlyadvanceitspigfarmingstrategyandguaranteethefinancialneedswillbemetforthepigfarmingprojectinvestmentandconstructionanddailyoperationalneeds,thecompanydecidedtoprivatelyissuestockstoparticularsubjectsinordertoraisefundsofnomorethan4billionYuan(inclusive),which,afterdeductionoftheissuecosts,willbeinvestedinthecompany’spigfarmingprojectsandasadditionalworkingcapital,includingatotalinvestmentof3.2billionYuaninitspigfarmingprojectsandatotalof800millionYuanasadditionalworkingcapital.Theintendedrecipientsarethecompany’scontrollingshareholderNewHopeGroupanditscontrolledentitySouthHope.ThetypeofstockofthisprivateplacementisdomesticallylistedRMBordinaryshares(Ashares),withparvalueofRMB1.00Yuanpershare.Duetotheimplementationofthe2019equitydistributionschemebythecompany,theissuepriceofstockofthisprivateplacementwasadjustedfrom22.73Yuanpershareto22.58Yuanpershare,andthequantityofstockstobeissuedwasadjustedfromnomorethan175,978,882shares(inclusive)tonomorethan177,147,918shares(inclusive).Currently,thecompany’sapplicationforthisprivateplacementhasbeenreviewedandapprovedbytheissuanceexaminationcommitteeofCSRC,buthasyettoreceivethewrittenapprovalfromCSRC.7.Alongwiththefull-scaleadvancementofthecompany’spigfarmingstrategy,whichsignificantlyincreasedtheworkingcapitalrequiredandmadetheexistingFinancialServicesAgreementbetweenthecompanyandthefinancecompanynolongermeettheneeds,bothpartieshavedecidedtoexecuteanew3-yearFinancialServicesAgreementonthebasisoffreewill,equalityandmutualbenefitinlightofthelatestbusinessdevelopments,wherebytheupperlimitofper-daymaximumdepositbalanceofthecompanywiththefinancecompanywillbeincreasedfrom5.5billionYuanto10billionYuanandthecomprehensivecreditlimitsgrantedbythefinancecompanytothecompanyanditssubsidiarieswillbeincreasedfrom8billionYuanperyearto10billionYuanperyear,Thismatterisyettobesubmittedtothegeneralmeetingofthecompanyfordeliberations.XVIII.Significantmattersofthecompany’ssubsidiaries□Applicable√NotapplicableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd277Section6ChangesinsharesandshareholderdetailsI.Changesinshares1.ChangesinsharesUnit:shareBeforethischangeIncreaseordecreasebythischange(+,-)AfterthischangeQuantityProportionNewsharesissuedBonussharesProvidentfundconvertedintosharesOthersSubtotalQuantityProportionI.Restrictedshares18,057,7580.43%-12,159,930-12,159,9305,897,8280.14%3.Shareholdingsbyotherdomesticcompanies18,057,7580.43%-12,159,930-12,159,9305,897,8280.14%Wherein:shareholdingsofdomesticbusinessentities1,783,4560.04%-1,783,456-1,783,45600.00%Shareholdingsofdomesticnaturalpersons16,274,3020.39%-10,376,474-10,376,4745,897,8280.14%II.Unrestrictedshares4,197,957,25199.57%12,159,93012,159,9304,210,117,18199.86%1.RMBordinaryshares4,197,957,25199.57%12,159,93012,159,9304,210,117,18199.86%III.Totalshares4,216,015,009100.00%004,216,015,009100.00%Causesofchangeinshares√Applicable□Notapplicable1.The12,159,930restrictedsharesofthecompanyheldbyYanJunfang,FengyiInvestment,XiangyuanInvestment,KangShunhu,LeiNingliandYanSuifanginaggregateforassetpurchaseviashareissueandpaymentofcashin2016wereunlockedandlistedfortradingonFebruary25,2020.Approvalofchangesinshares□Applicable√Notapplicabletransferofchangesinshares□Applicable√NotapplicableImplementationprogressofsharerepurchase□Applicable√NotapplicableImplementationprogressofsharerepurchasethroughreducedshareholdingusingthecentralizedcompetitivebiddingprocess□Applicable√NotapplicableEffectsofsharechangesonthebasicper-shareearningsanddilutedper-shareearnings,per-sharenetassetsattributabletoordinaryFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd278shareholdersofthecompanyandotherfinancialindicatorsofthemostrecentyearandthemostrecentperiod□Applicable√NotapplicableOthercontentsthatthecompanydeemsnecessarytodiscloseorsecuritiesregulatorsrequiretodisclose□Applicable√Notapplicable2.Changesinrestrictedshares√Applicable□NotapplicableUnit:shareShareholdernameBeginningnumberofrestrictedsharesRestrictedsharesunlockedinthecurrentperiodRestrictedsharesincreasedinthecurrentperiodEndingnumberofrestrictedsharesCausesofrestrictiononsalesDateunlockedYanJunfang8,755,1518,755,15100Restrictedsharesforassetpurchasethroughshareissueandpaymentofcashin2016February25,2020YanglingFengyiEquityInvestmentManagementCenter(LP)956,581956,58100Restrictedsharesforassetpurchasethroughshareissueandpaymentofcashin2016February25,2020YanglingXiangyuanEquityInvestmentManagementCenter(LP)826,875826,87500Restrictedsharesforassetpurchasethroughshareissueandpaymentofcashin2016February25,2020KangShunhu713,382713,38200Restrictedsharesforassetpurchasethroughshareissueandpaymentofcashin2016February25,2020LeiNingli486,397486,39700Restrictedsharesforassetpurchasethroughshareissueandpaymentofcashin2016February25,2020YanSuifang421,544421,54400RestrictedsharesforassetpurchasethroughshareissueandFebruary25,2020Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd279paymentofcashin2016Total12,159,93012,159,93000----II.Issueandlistingofsecurities√Applicable□NotapplicableNameofstockanditsderivativesecuritiesDateissuedIssueprice(orinterestrate)QuantitiesissuedDatelistedQuantitiesapprovedforlistingandtradingDateoftradingterminationDisclosureindexDatedisclosedStockConvertiblecorporatebonds,convertiblecorporatebondsforseparatetrading,corporatedebtsHopeconvertiblebonds(127015)January03,2020100Yuan/piece4,000,000,000February04,20204,000,000,000January02,2026Asdetailedinthe“IndicativeAnnouncementofPublicIssueofConvertibleCorporateBonds(2020-01)and“AnnouncementofListingofConvertibleCorporateBondsofPubliclyIssuedAShares”(2020-11)publishedbythecompanyontheShanghaiSecuritiesJournal,SecuritiesTimesandonJanuary3andFebruary3,2020respectively.February03,2020RemarksonissueofsecuritieswithinthereportingperiodThecompanypubliclyissued40millionconvertiblecorporatebondswithparvalueof100YuaneachonJanuary3,2020foratotalissuedamountof4,000millionYuan,whichwerelistedfortradingonShenzhenStockExchangeasofFebruary4,2020underthebondabbreviation“HopeConvertibleBonds”andbondcode“127015”.Theconvertiblecorporatebondsissuedthistimehaveatermof6years,i.e.,fromJanuary3,2020toJanuary2,2026,withthestartandenddateofdebt-to-equityswapbeingJuly9,2020andJanuary2,2026respectively.Theconvertiblecorporatebondsaresubjecttointerestpaymentonceayear,withprincipalrepaymentandpaymentofthelast-yearinterestuponmaturity.Theinterestrateis0.20%inthefirstyear,0.40%inthesecondyear,0.80%inthethirdyear,1.20%inthefourthyear,1.60%inthefifthyearand2.00%inthesixthyear.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd280III.NumberofshareholdersofthecompanyandtheirshareholdingsUnit:shareTotalnumberofordinaryshareholdersattheendofthereportingperiod111,981Totalnumberofpreferredshareholderswithresumedvotingpowerattheendofthereportingperiod(ifany)(SeeNote8)0Ordinaryshareholderseachholdingover5%sharesorshareholdingsofthetop10ordinaryshareholdersShareholdernameNatureofshareholderShareholdingratioNumberofordinarysharesheldattheendofthereportingperiodIncreaseordecreasewithinthereportingperiodNumberofrestrictedordinarysharesheldNumberofunrestrictedordinarysharesheldPledgesorfreezesSharestatusQuantitySouthHopeIndustrialCo.,LtdDomesticnon-state-ownedbusinessentity29.21%1,231,525,830001,231,525,830NewHopeGroupCo.,LtdDomesticnon-state-ownedbusinessentity24.91%1,050,163,1292,000,00001,050,163,129ChinaSecuritiesFinanceCorporationLtdDomesticnon-state-ownedbusinessentity2.98%125,602,59100125,602,591TibetStrongInvestmentConsultingCo.,LtdDomesticnon-state-ownedbusinessentity2.52%106,349,626-4,226,5000106,349,626HongKongSecuritiesClearingCo.LtdOverseasbusinessentity2.48%104,565,7206,530,3460104,565,720TibetShanchengInvestmentConsultingCo.,LtdDomesticnon-state-ownedbusinessentity2.32%98,011,584-8,500,300098,011,584LhasaDevelopmentAreaHezhiwangIndustrialCo.,Domesticnon-state-ownedbusinessentity1.31%55,390,692-469,000055,390,692Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd281LtdLaiDajianDomesticnaturalperson1.04%43,747,9596,902,273043,747,959CentralHuijinInvestmentLtdState-ownedbusinessentity0.98%41,319,4000041,319,400LiLiliDomesticnaturalperson0.64%26,887,69010,367,590026,887,690Remarksonrelated-partyrelationshipsamongtheaforesaidshareholdersofactionsinconcertNewHopeGroupisthecontrollingshareholderofSouthHope,andbothpartiesarepersonsactinginconcerttoeachother.Besides,thecompanyisnotawareofwhetheritstoptenshareholdershaveotherrelated-partyrelationshipsoractionsinconcert.Shareholdingsoftop10unrestrictedordinaryshareholders.ShareholdernameNumberofunrestrictedordinarysharesheldattheendofthereportingperiodTypesofsharesTypesofsharesQuantitySouthHopeIndustrialCo.,Ltd1,231,525,830RMBordinaryshares1,231,525,830NewHopeGroupCo.,Ltd1,050,163,129RMBordinaryshares1,050,163,129ChinaSecuritiesFinanceCorporationLtd125,602,591RMBordinaryshares125,602,591TibetStrongInvestmentConsultingCo.,Ltd106,349,626RMBordinaryshares106,349,626HongKongSecuritiesClearingCo.Ltd104,565,720RMBordinaryshares104,565,720TibetShanchengInvestmentConsultingCo.,Ltd98,011,584RMBordinaryshares98,011,584LhasaDevelopmentAreaHezhiwangIndustrialCo.,Ltd55,390,692RMBordinaryshares55,390,692LaiDajian43,747,959RMBordinaryshares43,747,959CentralHuijinInvestmentLtd41,319,400RMBordinaryshares41,319,400LiLili26,887,690RMBordinaryshares26,887,690Remarksonrelated-partyrelationshipsoractionsinconcertamongthetop10unrestrictedordinaryshareholdersandbetweentop10unrestrictedordinaryshareholdersandtop10ordinaryNewHopeGroupisthecontrollingshareholderofSouthHope,andbothpartiesarepersonsactinginconcerttoeachother.Besides,thecompanyisnotawareofwhetheritstoptenshareholdershaveotherrelated-partyrelationshipsoractionsinconcert.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd282shareholders.Whetherthetop10ordinaryshareholdersandtop10unrestrictedordinaryshareholdersofthecompanyconductedagreedrepurchasetransactionswithinthereportingperiod□yes√noThetop10ordinaryshareholdersandtop10unrestrictedordinaryshareholdersofthecompanydidnotconductanyagreedrepurchasetransactionswithinthereportingperiodIV.ChangesincontrollingshareholdersoractualcontrollerChangesincontrollingshareholdersduringthereportingperiod□Applicable√NotapplicableThecontrollingshareholdersofthecompanydidnotchangeduringthereportingperiod.Changesinactualcontrollerduringthereportingperiod□Applicable√NotapplicableTheactualcontrollerofthecompanydidnotchangeduringthereportingperiod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd283Section7Detailsrelatedtopreferredshares□Applicable√NotapplicableThecompanyhadnopreferredsharesduringthereportingperiod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd284Section8Detailsrelatedtoconvertiblecorporatebonds√Applicable□NotapplicableI.HistoricaladjustmentstoconversionpricesTheinitialconversionpriceoftheconvertiblecorporatebondsissuedbythecompany(bondabbreviation:HopeConvertibleBonds,bondcode:127015)is19.78Yuanpershare,andduetoimplementationofthe2019equitydistributionschemebythecompany,theconversionpriceofconvertiblecorporatebondswasadjustedfrom19.78Yuanpershareto19.63YuanpershareasofJune19,2020.II.Accumulatedconversionfrombondsintoshares□Applicable√NotapplicableIII.Detailsoftop10convertiblecorporatebondholdersUnit:shareNumberNameofconvertiblecorporatebondholderNatureofconvertiblecorporatebondholderNumberofconvertiblecorporatebondsheldattheendofreportingperiod(pieces)Amountofconvertiblecorporatebondsheldattheendofreportingperiod(Yuan)Percentageofconvertiblecorporatebondsheldattheendofreportingperiod1SouthHopeIndustrialCo.,LtdDomesticnon-state-ownedbusinessentity11,887,9191,790,320,601.4029.72%2NewHopeGroupCo.,LtdDomesticnon-state-ownedbusinessentity5,817,919876,178,601.4014.54%3GuosenSecuritiesCo.,LtdState-ownedbusinessentity1,210,531182,305,968.603.03%4NationalSocialSecurityFund203PortfolioOthers1,110,008167,167,204.802.78%5UBSAGOverseasbusinessentity1,086,116163,569,069.602.72%6ShanghaiZhanhongInvestmentManagementCo.,Ltd—ZhanhongWenjinNo.1PESecuritiesOthers850,532128,090,119.202.13%Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd285InvestmentFund7ChinaInternationalCapitalCorporationLimitedState-ownedbusinessentity799,560120,413,736.002.00%8IndustrialandCommercialBankofChinaCo.,Ltd—HuitianfuConvertibleBondsBond-typeSecuritiesInvestmentFundOthers630,00194,878,150.601.58%9BasicEndowmentInsuranceFund103PortfolioOthers628,92594,716,105.001.57%10LiJiaOverseasnaturalperson503,00375,752,251.801.26%IV.Significantchangesinprofitability,assetconditionandcreditstandingofguarantors□Applicable√NotapplicableV.Liabilities,creditabilitychangesandcasharrangementfordebtserviceinthenextfiveyearsofthecompanyattheendofthereportingperiodItemTheendofthisreportingperiodEndofthepreviousyearIncreaseordecreaseattheendofthisreportingperiodfromtheendofthepreviousyearLiquidityratio86.27%65.58%20.69%Asset-liabilityratio58.95%49.16%9.79%Quickratio41.27%30.05%11.22%ItemThisreportingperiodThesameperiodofthepreviousyearIncreaseordecreaseinthisreportingperiodcomparedwiththesameperiodofthepreviousyearEBITDAinterestcoverageratio9.9212.93-23.30%Loanrepaymentrate100%100%0%Interestrepaymentrate100%100%0%Thelong-termcreditratingofNewHopeLiuheCo.,LtdasanentityisAAA,withitscreditratingoutlookbeing“stable”,andthebondcreditratingof“HopeConvertibleBonds”issuedpubliclybyNewHopeLiuheCo.,LtdisAAA.Thecreditratingofthecompanydidnotchangeduringthereportingperiod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd286Section9Detailsofdirectors,supervisorsandseniormanagersI.Changesinshareholdingsofdirectors,supervisorsandseniormanagers□Applicable√NotapplicableTheshareholdingsofdirectors,supervisorsandseniormanagersofthecompanydidnotchangeduringthereportingperiod,asdetailedinthe2019annualreport.II.Changesindirectors,supervisorsandseniormanagersofthecompany□Applicable√NotapplicableThedirectors,supervisorsandseniormanagersofthecompanydidnotchangeduringthereportingperiod,asdetailedinthe2019annualreport.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd287Section10DetailsrelatedtocorporatedebtsWhetherthecompanyhadanycorporatebondspubliclyissuedandlistedonstockexchangeswhichwerenotdueornotredeemedinfulluponmaturityonthedateofapprovedissueofthesemiannualreport.NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd288Section11FinancialReportI.Auditor’sReportWhetherthesemiannualreporthasbeenaudited□yes√noThecompany’ssemiannualfinancialreporthasnotbeenaudited.II.FinancialStatementsTheunitofmeasureusedinthestatementsinthenotestofinancialstatementsisYuan.1.ConsolidatedbalancesheetPreparedby:NewHopeLiuheCo.,LtdJune30,2020Unit:YuanItemJune30,2020December31,2019CurrentassetsMonetaryfunds10,136,302,285.945,777,179,578.87SettlementreserveLoanstootherbanksHeld-for-tradingfinancialassets5,420,609.764,594,255.65DerivativefinancialassetsNotesreceivable15,649,000.0064,091,249.80Accountsreceivable1,081,728,695.65894,050,167.92ReceivablesfinancingPrepayments1,415,236,815.81644,252,622.96InsurancepremiumsreceivableReinsuranceamountsreceivableProvisionofcessionreceivableOtherreceivables992,306,695.82346,508,417.87Wherein:interestreceivable26,753,875.3052,735,123.47Dividendsreceivable676,481,123.94FinancialassetspurchasedforresaleFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd289Inventories15,039,010,762.719,307,812,126.89ContractassetsAssetsheldforsaleNon-currentassetsduewithinayearOthercurrentassets145,187,143.12140,064,259.62Totalcurrentassets28,830,842,008.8117,178,552,679.58Non-currentassetsLoansandadvancesmadeDebtinvestmentsOtherdebtinvestmentsLong-termreceivablesLong-termequityinvestments22,388,741,130.1021,121,784,349.18Otherequityinstrumentinvestments318,276,827.48318,276,827.48Othernon-currentfinancialassetsInvestmentproperties372,891.35381,137.69Fixedassets19,740,436,035.0913,825,102,269.78Worksinprogress5,652,829,977.264,745,959,274.86Productivebiologicalassets7,950,854,233.412,510,633,170.64Oil&gasassetsRight-of-useassetsIntangibleassets1,510,845,508.051,388,930,702.26DevelopmentexpenditureGoodwill1,234,756,072.931,234,756,072.93Long-termunamortizedexpenses685,300,599.39406,320,291.51Deferredincometaxassets260,665,932.00277,744,391.09Othernon-currentassets2,719,230,794.471,209,225,716.55Totalnon-currentassets62,462,310,001.5347,039,114,203.97Totalassets91,293,152,010.3464,217,666,883.55Currentliabilities:Short-termborrowings15,736,033,772.5513,620,562,405.56BorrowingsfromcentralbankLoansfromotherbanksHeld-for-tradingfinancialliabilities3,761,357.305,240,664.99DerivativefinancialliabilitiesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd290Notespayable786,725,584.52546,413,194.42Accountspayable6,968,406,305.264,966,318,094.79Advancereceipts1,347,222,574.40Contractliabilities1,730,365,985.17FinancialassetssoldforrepurchaseDepositstakenandinterbankdepositsProceedsfromvicariouslytradedsecuritiesProceedsfromvicariouslyunderwrittensecuritiesPayrollpayable891,122,733.89794,865,691.98Taxespayable246,032,064.06216,106,174.26Otherpayables5,193,468,038.163,848,824,206.47Wherein:interestpayable109,375,976.7245,768,415.29Dividendspayable174,273,094.99194,636,496.96HandlingfeeandcommissionpayableCessioninsurancepremiumspayableLiabilitiesheldforsaleNon-currentliabilitiesduewithinayear863,848,770.60850,351,706.57Othercurrentliabilities999,250,000.00Totalcurrentliabilities33,419,014,611.5126,195,904,713.44Non-currentliabilitiesProvisionforinsurancecontracts126,462,672.82109,584,637.12Long-termborrowings14,724,197,365.124,954,486,449.54Bondspayable5,247,722,837.15Wherein:preferredsharesPerpetualbondsLeaseliabilitiesLong-termpayables6,000,000.00Long-termpayablepayrollEstimatedliabilitiesDeferredincome288,024,398.73284,798,587.55Deferredincometaxliabilities15,959,029.3317,026,975.65Othernon-currentliabilitiesTotalnon-currentliabilities20,402,366,303.155,371,896,649.86Totalliabilities53,821,380,914.6631,567,801,363.30Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd291Ownershipinterest:Sharecapital4,216,015,009.004,216,015,009.00Otherequityinstruments807,818,156.19Wherein:preferredsharesPerpetualbondsCapitalreserve3,025,847,629.222,507,590,540.72Minus:treasuryshares611,317,618.59611,317,618.59Othercomprehensiveincome-152,633,677.84-41,562,505.82SpecialreserveSurplusreserve2,400,326,701.162,400,778,310.95GenericriskreserveUndistributedprofits20,132,939,849.2417,590,186,212.30Totalownershipinterestattributabletotheparentcompany29,818,996,048.3826,061,689,948.56Minorityinterest7,652,775,047.306,588,175,571.69Totalownershipinterest37,471,771,095.6832,649,865,520.25Totalliabilitiesandownershipinterest91,293,152,010.3464,217,666,883.55Legalrepresentative:LiuChangChiefaccountant:WangShuhuaPersoninchargeofaccountingorganization:ChenJing2.ParentcompanybalancesheetUnit:YuanItemJune30,2020December31,2019CurrentassetsMonetaryfunds6,227,706,934.443,946,682,922.07Held-for-tradingfinancialassetsDerivativefinancialassetsNotesreceivable156,217,304.66196,274,325.65Accountsreceivable1,117,762.131,474,386.47ReceivablesfinancingPrepayments19,962,111.8219,340,940.22Otherreceivables38,418,788,645.3823,621,677,381.84Wherein:interestreceivable59,977,892.9473,397,114.11Dividendsreceivable361,817,393.82465,500,000.00Inventories22,295,478.2027,991,352.12Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd292ContractassetsAssetsheldforsaleNoncurrentassetsduewithinayearOthercurrentassets2,660,834.755,349,774.87Totalcurrentassets44,848,749,071.3827,818,791,083.24NoncurrentassetsDebtinvestmentsOtherdebtinvestmentsLong-termreceivablesLong-termequityinvestments12,120,701,832.069,131,047,342.08Otherequityinstrumentinvestments211,196,000.00211,196,000.00OthernoncurrentfinancialassetsInvestmentpropertiesFixedassets23,369,529.9826,018,579.25WorksinprogressProductivebiologicalassetsOil&gasassetsRight-of-useassetsIntangibleassets16,089,796.8120,778,129.99DevelopmentexpenditureGoodwillLong-termunamortizedexpenses2,992,339.012,135,449.33Deferredincometaxassets935,411.18767,190.67Othernoncurrentassets3,307,532.60501,293.33Totalnoncurrentassets12,378,592,441.649,392,443,984.65Totalassets57,227,341,513.0237,211,235,067.89Currentliabilities:Short-termborrowings4,370,226,247.044,345,139,845.07Held-for-tradingfinancialliabilitiesDerivativefinancialliabilitiesNotespayable148,955,884.1398,207,852.09Accountspayable17,978,281.5023,734,887.74Advancereceipts22,226,964.74Contractliabilities19,011,644.80Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd293Payrollpayable44,759,868.2329,359,058.80Taxespayable5,101,489.603,763,775.88Otherpayables28,497,618,682.9417,749,453,705.10Wherein:interestpayable79,046,471.5825,397,692.88DividendspayableLiabilitiesheldforsaleNoncurrentliabilitiesduewithinayear451,719,500.00587,050,000.00Othercurrentliabilities999,250,000.00Totalcurrentliabilities34,554,621,598.2422,858,936,089.42NoncurrentliabilitiesLong-termborrowings5,063,543,989.002,376,300,000.00Bondspayable5,247,722,837.15Wherein:preferredsharesPerpetualbondsLeaseliabilitiesLong-termpayablesLong-termpayablepayrollEstimatedliabilitiesDeferredincome2,128,704.161,569,625.82DeferredincometaxliabilitiesOthernoncurrentliabilitiesTotalnoncurrentliabilities10,313,395,530.312,377,869,625.82Totalliabilities44,868,017,128.5525,236,805,715.24Ownershipinterest:Sharecapital4,216,015,009.004,216,015,009.00Otherequityinstruments807,818,156.19Wherein:preferredsharesPerpetualbondsCapitalreserve4,893,351,834.824,876,984,181.01Minus:treasuryshares611,317,618.59611,317,618.59OthercomprehensiveincomeSpecialreserveSurplusreserve979,184,653.16979,184,653.16Undistributedprofits2,074,272,349.892,513,563,128.07Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd294Totalownershipinterest12,359,324,384.4711,974,429,352.65Totalliabilitiesandownershipinterest57,227,341,513.0237,211,235,067.893.ConsolidatedincomestatementUnit:YuanItemHalfyearof2020Halfyearof2019I.Totalbusinessrevenue44,696,040,364.0835,294,298,951.26Wherein:businessrevenue44,696,040,364.0835,294,298,951.26InterestrevenueEarnedpremiumsRevenuefromhandlingfeeandcommissionII.Totaloperatingcosts41,771,921,545.3234,300,893,684.92Wherein:operatingcost38,883,226,717.7532,010,499,396.85InterestexpenditureExpenditureonhandlingfeeandcommissionSurrendervalueNetindemnitiespaidNetprovisionforinsuranceliabilitiesaccrued9,814,421.355,977,130.19PolicydividendpayoutReinsurancecostsTaxesandsurcharges77,628,934.4864,518,712.38Sellingexpenses645,291,464.41852,892,928.02Managementexpenses1,620,715,240.331,112,280,327.11R&Dexpenses103,889,170.6470,598,941.33Financialexpenses431,355,596.36184,126,249.04Wherein:interestexpense507,683,759.99215,333,401.06Interestrevenue87,768,232.5930,456,978.09Plus:otherincome66,064,040.0136,218,931.46Investmentincome(losstobedenotedby‘-“)1,241,206,487.881,409,962,406.00Wherein:incomeoninvestmentinaffiliatesandjointventures1,247,082,435.861,415,671,574.32Incomefromde-recognitionoffinancialassetsmeasuredatamortizedcostsExchangegains(lossestobedenotedby“-”)Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd295Incomeonnetexposurehedging(losstobedenotedby“-“)Incomefromchangeinfairvalue(losstobedenotedby”-“)-4,111,949.63-61,001.80Creditimpairmentloss(losstobedenotedby“-“)-47,300,672.93-39,291,159.86Assetimpairmentloss(losstobedenotedby“-‘)-2,555,550.61-28,213,568.78Incomefromassetdisposal(losstobedenotedby“-“)-65,147,148.15-38,316,628.29III.Operatingprofits(lossestobedenotedby“-“)4,112,274,025.332,333,704,245.07Plus:non-businessincome31,392,988.9920,141,811.42Minus:non-businessexpenditure143,494,162.87120,109,245.41IV.Totalprofits(totallossestobedenotedby“-“)4,000,172,851.452,233,736,811.08Minus:incometaxexpense171,269,538.95154,996,593.15V.Netprofits(netlossestobedenotedby“-“)3,828,903,312.502,078,740,217.93(I)Classificationbyoperationalcontinuity1.Netprofitsfromcontinuousoperations(netlossestobedenotedby”-“)3,828,903,312.502,078,740,217.932.Netprofitsfromdiscontinuedoperations(netlossestobedenotedby“-“)(II)Classificationbyattributionofownership1.Netprofitsattributabletoownersoftheparentcompany3,163,865,460.001,561,855,272.772.Minorityinterestincomeorloss665,037,852.50516,884,945.16VI.After-taxnetamountofothercomprehensiveincome-129,146,135.9728,338,644.14After-taxnetamountofothercomprehensiveincomeattributabletotheownersoftheparentcompany-111,071,172.0220,599,635.90(I)Othercomprehensiveincomethatcannotbereclassifiedtoprofitandloss-782,981.25-31,598,261.611.Changeindefinedbenefitplanre-measured2.Othercomprehensiveincomethatcannotbetransferredtoprofitandlossundertheequitymethod-782,981.25-438,469.503.Changeinfairvalueofotherequityinstrumentinvestments-31,159,792.114.Changeinfairvalueofcreditrisktothecompany5.Others(II)Othercomprehensiveincomethatwillbereclassifiedtoprofitandloss-110,288,190.7752,197,897.511.Othercomprehensiveincomethatcanbe-54,057,025.5024,522,972.75Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd296transferredtoprofitandlossundertheequitymethod2.Changeinfairvalueofotherdebtinvestments3.Amountchargedtoothercomprehensiveincomeduetoreclassificationoffinancialassets4.Provisionforcreditimpairmentofotherdebtinvestments5.Cashflowhedgingreserve6.Foreign-currencystatementtranslationdifference-56,231,165.2727,674,924.767.OthersAfter-taxnetothercomprehensiveincomeattributabletominorityshareholders-18,074,963.957,739,008.24VII.Totalcomprehensiveincome3,699,757,176.532,107,078,862.07Totalcomprehensiveincomeattributabletoownersoftheparentcompany3,052,794,287.981,582,454,908.67Totalcomprehensiveincomeattributabletominorityshareholders646,962,888.55524,623,953.40VIII:Pershareearnings(I)Basicearningspershare0.760.38(II)Dilutedearningspershare0.750.38Incaseofbusinesscombinationunderthecommoncontrolduringthisperiod,thenetprofitsrealizedbythecombinedpartybeforeconsolidationis:0.00Yuan,andthenetprofitsrealizedbythecombinedpartyinthepreviousperiodis:0.00Yuan.Legalrepresentative:LiuChangChiefaccountant:WangShuhuaPersoninchargeofaccountingorganization:ChenJing4.ParentcompanyincomestatementUnit:YuanItemHalfyearof2020Halfyearof2019I.Businessrevenue284,485,978.83330,931,119.56Minus:operatingcosts249,155,615.35303,247,851.06Taxesandsurcharges736,299.66469,350.43Sellingexpenses5,173,218.487,702,924.24Managementexpenses168,994,714.72123,812,443.83R&Dexpenses16,803,897.3412,597,734.92Financialexpenses-149,365,131.82-51,948,136.74Wherein:interestexpense313,373,642.96130,192,289.54Interestrevenue461,960,747.22184,431,940.33Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd297Plus:otherincome5,858,671.984,442,629.58Investmentincome(losstobedenotedby‘-“)182,577,738.7183,800,957.07Wherein:incomeoninvestmentinaffiliatesandjointventures24,654,489.9828,361,270.75Incomefromde-recognitionoffinancialassetsmeasuredatamortizedcost(losstobedenotedby“-“)Incomeonnetexposurehedging(losstobedenotedby“-“)Incomefromchangeinfairvalue(losstobedenotedby”-“)Creditimpairmentloss(losstobedenotedby“-“)-925,870.7711,734.88Assetimpairmentloss(losstobedenotedby“-‘)Incomefromassetdisposal(losstobedenotedby“-“)-216.02-28,865.75II.Operatingprofits(lossestobedenotedby“-“)180,497,689.0023,275,407.60Plus:non-businessincome2,325,436.68595,972.54Minus:non-businessexpenditure816.893,186,788.16III.Totalprofits(totallossestobedenotedby“-“)182,822,308.7920,684,591.98Minus:incometaxexpense549,654.12-2,365.39IV.Netprofits(netlossestobedenotedby“-“)182,272,654.6720,686,957.37(I)Netprofitsfromcontinuousoperations(netlossestobedenotedby”-“)182,272,654.6720,686,957.37(II)Netprofitsfromdiscontinuedoperations(netlossestobedenotedby”-“)V.After-taxnetamountofothercomprehensiveincome(I)Othercomprehensiveincomethatcannotbereclassifiedtoprofitandloss1.Changeindefinedbenefitplanre-measured2.Othercomprehensiveincomethatcannotbetransferredtoprofitandlossundertheequitymethod3.Changeinfairvalueofotherequityinstrumentinvestments4.Changeinfairvalueofcreditrisktothecompany5.Others(II)Othercomprehensiveincomethatwillbereclassifiedtoprofitandloss1.Othercomprehensiveincomethatcanbetransferredtoprofitandlossundertheequitymethod2.Changeinfairvalueofotherdebtinvestments3.Amountchargedtoothercomprehensiveincomeduetoreclassificationoffinancialassets4.Provisionforcreditimpairmentofotherdebtinvestments5.Cashflowhedgingreserve6.Foreign-currencystatementtranslationdifferenceFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd2987.OthersVI.Totalcomprehensiveincome182,272,654.6720,686,957.37VII.Pershareearnings(I)Basicearningspershare(II)Dilutedearningspershare5.ConsolidatedcashflowstatementUnit:YuanItemHalfyearof2020Halfyearof2019I.Cashflowfromoperatingactivities:Cashreceivedfromsaleofcommoditiesandprovisionofservice45,329,036,181.5636,386,466,981.33NetincreaseindepositsfromcustomersandinterbankdepositsNetincreaseinborrowingsfromcentralbankNetincreaseinloansfromotherfinancialinstitutionsCashreceivedfromreceiptoforiginalinsurancecontractpremiumsNetcashreceivedfromreinsurancebusinessNetincreaseindepositsandinvestmentsfromtheinsuredCashfrominterest,handlingfeeandcommissionchargedNetincreaseinloansfromotherbanksNetincreaseinfundsforrepurchaseNetcashreceivedfromvicariouslytradedsecuritiesTaxrebatesreceived29,179,104.8216,315,587.19Othercashreceivedinconnectionwithoperatingactivities725,775,233.35514,690,517.10Subtotalofcashinflowsfromoperatingactivities46,083,990,519.7336,917,473,085.62Cashpaidforpurchaseofcommoditiesandreceiptofservice40,634,105,423.9432,807,144,417.50NetincreaseinloansandadvancesfromcustomersNetincreaseindepositswithcentralbankandotherbanksCashpaidforindemnitiesunderoriginalinsurancecontractsNetincreaseinloanstootherbanksCashpaidforinterest,handlingfeeandcommissionCashpaidforpolicydividendsCashpaidtoandforemployees3,068,738,990.002,215,602,613.64Taxespaid315,401,702.58330,637,421.07Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd299Othercashpaidinconnectionwithoperatingactivities1,407,151,071.631,020,404,459.47Subtotalofcashoutflowsfromoperatingactivities45,425,397,188.1536,373,788,911.68Netcashflowfromoperatingactivities658,593,331.58543,684,173.94II.CashflowfrominvestingactivitiesCashreceivedfromrecoveryofinvestments19,765,145.61793,098,060.52Cashreceivedfromacquisitionofreturnoninvestment1,294,750.0012,937,500.00Netcashrecoveredfromdisposaloffixedassets,intangibleassetsandotherlong-termassets.372,391,578.9548,295,897.64Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits464,772.1125,430,905.63Othercashreceivedinconnectionwithinvestingactivities3,315,588.354,560,807.10Subtotalofcashinflowsfrominvestingactivities397,231,835.02884,323,170.89Cashpaidforacquisitionoffixedassets,intangibleassetsandotherlong-termassets15,013,815,473.412,809,336,078.23Cashpaidforinvestments780,363,704.39280,063,765.72NetincreaseinpledgeloansNetcashpaidforacquisitionofsubsidiariesandotherbusinessunits127,324,201.48Othercashpaidinconnectionwithinvestingactivities43,097,745.9224,400,349.94Subtotalofcashoutflowsfrominvestingactivities15,964,601,125.203,113,800,193.89Netcashflowfrominvestingactivities-15,567,369,290.18-2,229,477,023.00III.CashflowfromfinancingactivitiesCashreceivedfromacquisitionofinvestments1,046,000,000.00769,051.27Wherein:cashreceivedfromacquisitionofminorityshareholderinvestmentinsubsidiaries1,046,000,000.00769,051.27Cashreceivedfromacquisitionofborrowings26,230,324,172.976,091,224,191.78Othercashreceivedinconnectionwithfinancingactivities8,285,150,000.006,590,000.00Subtotalofcashinflowsfromfinancingactivities35,561,474,172.976,098,583,243.05Cashpaidforrepaymentofdebts15,076,919,008.185,255,899,748.30Cashpaidfordistributionofdividendsandprofitsorpaymentofinterest1,233,794,141.66438,387,263.55Wherein:dividendsandprofitspaidbysubsidiariestominorityshareholders168,099,420.96186,005,410.83Othercashpaidinconnectionwithfinancingactivities18,060,256.83449,064,911.32Subtotalofcashoutflowsfromfinancingactivities16,328,773,406.676,143,351,923.17Netcashflowfromfinancingactivities19,232,700,766.30-44,768,680.12Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd300IV.Effectofexchangeratefluctuationoncashandcashequivalents-698,264.39-2,134,444.10V.Netincreaseincashandcashequivalents4,323,226,543.31-1,732,695,973.28Plus:beginningbalanceofcashandcashequivalents5,692,332,240.915,370,971,251.78VI.Endingbalanceofcashandcashequivalents10,015,558,784.223,638,275,278.506.ParentcompanycashflowstatementUnit:YuanItemHalfyearof2020Halfyearof2019I.Cashflowfromoperatingactivities:Cashreceivedfromsaleofcommoditiesandprovisionofservice272,713,654.50326,992,400.75TaxrebatesreceivedOthercashreceivedinconnectionwithoperatingactivities470,862,024.4168,848,838.71Subtotalofcashinflowsfromoperatingactivities743,575,678.91395,841,239.46Cashpaidforpurchaseofcommoditiesandreceiptofservice172,267,837.89253,067,340.51Cashpaidtoandforemployees118,594,424.0594,653,082.09Taxespaid978,616.167,712,901.03Othercashpaidinconnectionwithoperatingactivities257,997,211.7798,292,355.52Subtotalofcashoutflowsfromoperatingactivities549,838,089.87453,725,679.15Netcashflowfromoperatingactivities193,737,589.04-57,884,439.69II.CashflowfrominvestingactivitiesCashreceivedfromrecoveryofinvestmentsCashreceivedfromacquisitionofreturnoninvestment261,961,638.26333,055,222.23Netcashrecoveredfromdisposaloffixedassets,intangibleassetsandotherlong-termassets.3,927.261,902.50Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits2,716.187,513,696.59OthercashreceivedinconnectionwithinvestingactivitiesSubtotalofcashinflowsfrominvestingactivities261,968,281.70340,570,821.32Cashpaidforacquisitionoffixedassets,intangibleassetsandotherlong-termassets3,611,624.025,830,724.36Cashpaidforinvestments26,363,400.00Netcashpaidforacquisitionofsubsidiariesandotherbusinessunits2,985,000,000.00Othercashpaidinconnectionwithinvestingactivities5,267,082,199.372,225,651,609.94Subtotalofcashoutflowsfrominvestingactivities8,255,693,823.392,257,845,734.30Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd301Netcashflowfrominvestingactivities-7,993,725,541.69-1,917,274,912.98III.CashflowfromfinancingactivitiesCashreceivedfromacquisitionofinvestmentsCashreceivedfromacquisitionofborrowings7,820,676,181.672,404,308,397.41Othercashreceivedinconnectionwithfinancingactivities8,282,700,000.0020,193,200.00Subtotalofcashinflowsfromfinancingactivities16,103,376,181.672,424,501,597.41Cashpaidforrepaymentofdebts5,249,357,790.701,760,358,397.41Cashpaidfordistributionofdividendsandprofitsorpaymentofinterest768,144,810.84137,139,883.39Othercashpaidinconnectionwithfinancingactivities4,846,678.63428,308,728.06Subtotalofcashoutflowsfromfinancingactivities6,022,349,280.172,325,807,008.86Netcashflowfromfinancingactivities10,081,026,901.5098,694,588.55IV.Effectofexchangeratefluctuationoncashandcashequivalents-14,936.48-4,163,702.05V.Netincreaseincashandcashequivalents2,281,024,012.37-1,880,628,466.17Plus:beginningbalanceofcashandcashequivalents3,946,682,922.073,782,287,678.50VI.Endingbalanceofcashandcashequivalents6,227,706,934.441,901,659,212.337.ConsolidatedstatementofchangesinequityCurrentamountUnit:YuanItemHalfyearof2020OwnershipinterestattributabletotheparentcompanyMinorityinterestTotalownershipinterestSharecapitalOtherequityinstrumentsCapitalreserveMinus:treasurysharesOthercomprehensiveincomeSpecialreserveSurplusreserveGenericriskreserveUndistributedprofitsOthersSubtotalPreferredsharesPerpetualbondsOthersI.Endingbalanceofthepreviousyear4,216,015,009.002,507,590,540.72611,317,618.59-41,562,505.822,400,778,310.9517,590,186,212.3026,061,689,948.566,588,175,571.6932,649,865,520.25Plus:Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd302changesinaccountingpoliciesPriorerrorcorrectionBusinesscombinationundercommoncontrolOthersII.Beginningbalanceofthecurrentyear4,216,015,009.002,507,590,540.72611,317,618.59-41,562,505.822,400,778,310.9517,590,186,212.3026,061,689,948.566,588,175,571.6932,649,865,520.25III.Increaseordecreaseincurrentperiod(decreasetobedenotedby“-”)807,818,156.19518,257,088.50-111,071,172.02-451,609.792,542,753,636.943,757,306,099.821,064,599,475.614,821,905,575.43(I)Totalcomprehensive-111,071,172.023,163,865,460.003,052,794,287.98646,962,888.553,699,757,176.53Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd303income(II)Capitalinvestedandreducedbyowner807,818,156.19516,002,102.501,323,820,258.69564,623,100.281,888,443,358.971.Ordinarysharesinvestedbyowners502,560,256.56502,560,256.56559,769,743.441,062,330,000.002.Capitalinvestedbyotherequityinstrumentholders807,818,156.19807,818,156.19807,818,156.193.Amountofshare-basedpaymentchargedtoownershipinterest16,367,653.8116,367,653.8116,367,653.814.Others-2,925,807.87-2,925,807.874,853,356.841,927,548.97(III)Profitdistribution-451,609.79-621,111,823.06-621,563,432.85-147,738,175.22-769,301,608.07Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3041.Surplusreserveaccrued-451,609.79451,609.792.Genericriskreserveaccrued3.Distributiontoowners(orshareholders)-621,563,432.85-621,563,432.85-147,738,175.22-769,301,608.074.Others(IV)Internalcarry-forwardofownershipinterest1.Capitalreservetransferredtocapital(orsharecapital)2.Surplusreservetransferredtocapital(orFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd305sharecapital)3.Lossescoveredbysurplusreserve4.Changesindefinedbenefitplancarriedforwardtoretainedearnings5.Othercomprehensiveincomecarriedforwardtoretainedearnings6.Others(V)Specialreserve1.Accruedinthecurrentperiod2.UsedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd306inthecurrentperiod(VI)Others2,254,986.002,254,986.00751,662.003,006,648.00IV.Balanceattheendofthecurrentperiod4,216,015,009.00807,818,156.193,025,847,629.22611,317,618.59-152,633,677.842,400,326,701.1620,132,939,849.2429,818,996,048.387,652,775,047.3037,471,771,095.68AmountinthepriorperiodUnit:YuanItemHalfyearof2019OwnershipinterestattributabletotheparentcompanyMinorityinterestTotalownershipinterestSharecapitalOtherequityinstrumentsCapitalreserveMinus:treasurysharesOthercomprehensiveincomeSpecialreserveSurplusreserveGenericriskreserveUndistributedprofitsOthersSubtotalPreferredsharesPerpetualbondsOthersI.Endingbalanceofthepreviousyear4,216,015,009.002,437,658,367.98135,933,209.85-142,136,867.472,202,206,559.5912,997,313,375.4121,575,123,234.665,760,623,310.7127,335,746,545.37Plus:changesinaccountingpolicies-300,444.79-31,138,927.47-31,439,372.26-5,084,980.17-36,524,352.43PriorerrorcorrectionBusinesscombinationundercommoncontrolOthersII.Beginning4,2162,437,135,93-142,12,201,12,96621,5435,755,527,299,Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd307balanceofthecurrentyear,015,009.00658,367.983,209.8536,867.47906,114.80,174,447.94,683,862.4038,330.54222,192.94III.Increaseordecreaseincurrentperiod(decreasetobedenotedby“-”)-3,059,167.63422,979,525.5920,599,635.90-8,561,450.561,446,208,886.261,032,208,378.38400,403,195.201,432,611,573.58(I)Totalcomprehensiveincome20,599,635.901,561,855,272.771,582,454,908.67524,623,953.402,107,078,862.07(II)Capitalinvestedandreducedbyowner-2,432,782.63422,979,525.59-425,412,308.22-17,069,199.71-442,481,507.931.Ordinarysharesinvestedbyowners422,979,525.59-422,979,525.59-26,007,948.58-448,987,474.172.Capitalinvestedbyotherequityinstrumentholders3.Amountofshare-basedpaymentchargedtoownershipinterest4.Others-2,432,782.63-2,432,782.638,938,748.876,505,966.24(III)Profitdistribution-8,569,210.31-115,716,224.26-124,285,434.57-106,942,763.49-231,228,198.061.Surplusreserveaccrued-8,569,210.318,569,210.312.Genericriskreserveaccrued3.Distributiontoowners(orshareholders)-124,285,434.57-124,285,434.57-106,942,763.49-231,228,198.06Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3084.Others(IV)Internalcarry-forwardofownershipinterest7,759.7569,837.7577,597.5077,597.501.Capitalreservetransferredtocapital(orsharecapital)2.Surplusreservetransferredtocapital(orsharecapital)3.Lossescoveredbysurplusreserve4.Changesindefinedbenefitplancarriedforwardtoretainedearnings5.Othercomprehensiveincomecarriedforwardtoretainedearnings7,759.7569,837.7577,597.5077,597.506.Others(V)Specialreserve1.Accruedinthecurrentperiod2.Usedinthecurrentperiod(VI)Others-626,385.00-626,385.00-208,795.00-835,180.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd309IV.Balanceattheendofthecurrentperiod4,216,015,009.002,434,599,200.35558,912,735.44-121,537,231.572,193,344,664.2414,412,383,334.2022,575,892,240.786,155,941,525.7428,731,833,766.528.ParentcompanystatementofchangesinequityCurrentamountUnit:YuanItemHalfyearof2020SharecapitalOtherequityinstrumentsCapitalreserveMinus:treasurysharesOthercomprehensiveincomeSpecialreserveSurplusreserveUndistributedprofitsOthersTotalownershipinterestPreferredsharesPerpetualbondsOthersI.Endingbalanceofthepreviousyear4,216,015,009.004,876,984,181.01611,317,618.59979,184,653.162,513,563,128.0711,974,429,352.65Plus:changesinaccountingpoliciesPriorerrorcorrectionOthersII.Beginningbalanceofthecurrentyear4,216,015,009.004,876,984,181.01611,317,618.59979,184,653.162,513,563,128.0711,974,429,352.65III.Increaseordecreaseincurrentperiod(decreasetobedenotedby“-”)807,818,156.1916,367,653.81-439,290,778.18384,895,031.82(I)Totalcomprehensiveincome182,272,654.67182,272,654.67(II)Capitalinvestedandreducedbyowner807,818,156.1916,367,653.81824,185,810.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3101.Ordinarysharesinvestedbyowners2.Capitalinvestedbyotherequityinstrumentholders807,818,156.19807,818,156.193.Amountofshare-basedpaymentchargedtoownershipinterest16,367,653.8116,367,653.814.Others(III)Profitdistribution-621,563,432.85-621,563,432.851.Surplusreserveaccrued2.Distributiontoowners(orshareholders)-621,563,432.85-621,563,432.853.Others(IV)Internalcarry-forwardofownershipinterest1.Capitalreservetransferredtocapital(orsharecapital)2.Surplusreservetransferredtocapital(orsharecapital)3.LossescoveredbysurplusreserveFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3114.Changesindefinedbenefitplancarriedforwardtoretainedearnings5.Othercomprehensiveincomecarriedforwardtoretainedearnings6.Others(V)Specialreserve1.Accruedinthecurrentperiod2.Usedinthecurrentperiod(VI)OthersIV.Balanceattheendofthecurrentperiod4,216,015,009.00807,818,156.194,893,351,834.82611,317,618.59979,184,653.162,074,272,349.8912,359,324,384.47AmountinthepriorperiodUnit:YuanItemHalfyearof2019SharecapitalOtherequityinstrumentsCapitalreserveMinus:treasurysharesOthercomprehensiveincomeSpecialreserveSurplusreserveUndistributedprofitsOthersTotalownershipinterestPreferredsharesPerpetualbondsOthersI.Endingbalanceofthepreviousyear4,216,015,009.004,852,113,628.36135,933,209.85958,607,173.472,453,249,584.4012,344,052,185.38Plus:changesinaccountingpolicies-59,833.90-538,505.08-598,338.98PriorerrorcorrectionFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd312OthersII.Beginningbalanceofthecurrentyear4,216,015,009.004,852,113,628.36135,933,209.85958,547,339.572,452,711,079.3212,343,453,846.40III.Increaseordecreaseincurrentperiod(decreasetobedenotedby“-”)422,979,525.597,759.75-103,528,639.45-526,500,405.29(I)Totalcomprehensiveincome20,686,957.3720,686,957.37(II)Capitalinvestedandreducedbyowner422,979,525.59-422,979,525.591.Ordinarysharesinvestedbyowners422,979,525.59-422,979,525.592.Capitalinvestedbyotherequityinstrumentholders3.Amountofshare-basedpaymentchargedtoownershipinterest4.Others(III)Profitdistribution-124,285,434.57-124,285,434.571.Surplusreserveaccrued2.Distributiontoowners(orshareholders)-124,285,434.57-124,285,434.573.Others(IV)Internal7,759.769,837.7577,597.50Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd313carry-forwardofownershipinterest51.Capitalreservetransferredtocapital(orsharecapital)2.Surplusreservetransferredtocapital(orsharecapital)3.Lossescoveredbysurplusreserve4.Changesindefinedbenefitplancarriedforwardtoretainedearnings5.Othercomprehensiveincomecarriedforwardtoretainedearnings7,759.7569,837.7577,597.506.Others(V)Specialreserve1.Accruedinthecurrentperiod2.Usedinthecurrentperiod(VI)OthersIV.Balanceattheendofthecurrentperiod4,216,015,009.004,852,113,628.36558,912,735.44958,555,099.322,349,182,439.8711,816,953,441.11Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd314III.Companyprofile(I)CorporatehistoryNewHopeLiuheCo.,Ltd.(formerlySichuanNewHopeAgricultureCo.,Ltd.)(hereinafter,“thecompany”or“thiscompany”)wasincorporatedonMarch4,1998withtheapprovalofSichuanProvincialPeople'sGovernmentChuanfuhan(1997)DocumentNo.260afteroverallchangetotheformerMianyangHopeFeedCo.,Ltd,witharegisteredcapitalofRMB140,020,000.00Yuan.OnMarch11andSeptember8,thecompanypubliclyissued36,000,000publicsharestothepublicand4,000,000internalemployeesharestoitsemployees,whichwererespectivelylistedfortradingonShenzhenStockExchange,withthestockcode:000876.Afterthecompany’sstockswerelisted,throughthetransferofbonussharesinMay,2000,allotmentofsharesinMarch2001,thetransferofbonussharesinJuly2002,October2002,June2008andMay2010,theimplementationoftheCompanyEquityDivisionReforminAugust2006,anduponthecompletionofmaterialassetsreorganizationinOctober2011andtheimplementationoftheprofitcompensationschemeformaterialassetsreorganizationinJuly2014,thecompany'stotalsharecapitalwaschangedto1,729,507,365shares.Accordingtothecompany’sextraordinarygeneralmeetingresolutionsdatedSeptember4,2013andtheApprovalofNon-publicStockIssuingofNewHopeLiuheCo.,Ltd(SecuritiesRegulatoryPermit[2014]No.565)fromCSRC,thecompanyissuedprivately354,609,927sharestofivespecificshareholdersincludingSouthHopeIndustrialCo.,Ltdagainstcapitalcontributionsmadebyeachshareholderincash.ThisprivateplacementwascompletedonAugust26,2014.Uponcompletionofthisprivateplacement,thecompany’stotalsharecapitalwaschangedto2,084,117,292shares.Accordingtotheresolutionsofthecompany's2015annualgeneralmeeting,basedonthecompany'stotalsharecapitalof2,084,117,292shares,thecapitalreservewastransferredtoincreasethesharecapitalfor10sharespershares,withrelatedpaperworkforthisconversionintosharecapitalcompletedonJune27,2016,uponwhichthecompany’stotalsharecapitalwaschangedto4,168,234,584shares.Accordingtotheresolutionsofthecompany’ssecondextraordinarygeneralmeetingheldonJune29,2016,andwiththeapprovalofCSRC“SecuritiesRegulatoryPermit[2016]No.3187”,thecompanychangedthetotalsharecapitalto4,216,015,009sharesonJanuary16,2017withtherelatedpaperworkforacquisitionof70%equitiesinYanglingBesunthroughissueofsharesandpaymentofcash.AsofDecember31,2019,theregisteredcapitalofthecompanywasRMB4,216,015,009Yuan,anditstotalsharecapitalwas4,216,015,009shares,ofwhich18,057,758outstandingsharesweresubjecttorestrictionsonsalesand4,197,957,251outstandingsharessubjecttonorestrictionsonsales.AsofJune30,2020,theregisteredcapitalofthecompanywasRMB4,216,015,009Yuan,anditstotalsharecapitalwas4,216,015,009shares,ofwhich5,897,828outstandingsharesweresubjecttorestrictionsonsalesand4,210,117,181outstandingsharessubjecttonorestrictionsonsales.(II)BusinesssituationAfteryearsofdevelopment,bytheendofJune2020,thecompanyhassuccessivelyhad652directlyorindirectlycontrolledsubsidiaries,18affiliatesand8jointventuresin30Chineseprovinces,municipalities,autonomousregionsandspecialadministrativeregions(includingSichuan,Yunnan,Guizhou,Beijing,Shanghai,Chongqing,Guangdong,Hainan,Hebei,Henan,Shandong,Shanxi,Jiangsu,Anhui,Zhejiang,Jiangxi,Hubei,Hunan,Shaanxi,Heilongjiang,Jilin,Liaoning,Gansu,Tibet,InnerMongolia,Guangxi,Ningxia,Tianjin,HongKong,Fujian)and17foreigncountries(including:Vietnam,Cambodia,thePhilippines,Bangladesh,Indonesia,Myanmar,Laos,Nepal,SriLanka,Singapore,Nepal,Egypt,Turkey,SouthAfrica,Poland,theUS,India,Nigeria)throughinvestmentandincorporationandM&As,thusbecominganindustryconglomeratewithfeed,breeding,slaughteringandmeatproductsasitscorecompetitiveness.(III)Addressandbusinessscopeofthecompany,etc.Thecompany’sbusinesslicenseregistrationnumber:91510000709151981F;Legalrepresentative:LiuChang;Registeredaddress:NationalHigh-techIndustryDevelopmentZone,MianyangCity,SichuanProvince;Headquarters’address:No.376,JinshiRoad,JinjiangIndustrialPark,ChengduCity,SichuanProvince.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd315Thecompany'sbusinessscope:productionandprocessingofcompoundfeeds,concentratedfeedsandconcentratesupplements(bybranchesonly)(theabovebusinessitemsandtermofbusinessaresubjecttothebusinesslicense).Generalbusinessitems(thefollowingscopedoesnotincludebusinessitemssubjecttopre-registrationapproval,whilebusinessitemssubjecttopost-registrationapprovalaretobeconductedbypresentationoflicenseorapprovaldocument):plantingofcerealsandothercrops;raisingoflivestock;raisingofpigs;poultryraising;wholesaleandretailsaleofgoods;importandexportbusiness;projectinvestmentandmanagement;scientificandtechnologicalexchangeandpromotionservices.(IV)MainproductsofthecompanyThecompany'smainproductsinitsfeedbusinessincludepigfeed,poultryfeed,fishfeed,etc.themainproductsofitsswinebusinessincludebreedingpigsandcommercialpigs;itspoultrybusinessmainlyincludesbreedingpoultry,commercialpoultry,poultryslaughter,etc.;itsfoodbusinessmainlyincludeslivestockslaughter,deepprocessingofmeatproducts,centralkitchen,etc.(V)DatewhenthefinancialreportisapprovedforpublicationThecompany’ssemiannualfinancialstatementsof2020wereapprovedbyitsboardofdirectorsforpublicationonAugust27,2020.(VI)ScopeofconsolidatedfinancialstatementsAsofJune30,2020,thecompanyhad652subsidiariesincludedinthescopeofitsconsolidatedfinancialstatements;comparedwiththepreviousyear,87newsubsidiarieswereaddedinthescopeofconsolidatedfinancialstatementsthisyear,and8subsidiarieswerenolongerincludedinthescopeofconsolidationthisyear.Fordetails,pleaserefertotherelevantcontentsof"Note8,changesinthescopeofconsolidation"and"Note9,interestsinotherentities’.IV.Basisofpreparationoffinancialstatements1.BasisofpreparationThesemiannualfinancialstatements2020ofthiscompanyhavebeenpreparedonthepremisesofgoingconcern,basedontheaccrualsystemandactualtransactionsandeventsandaccordingtothe“EnterpriseAccountingStandards—BasicStandards”(2014revision)and42specificaccountingstandards,guidelinesforapplicationofenterpriseaccountingstandards,interpretationofenterpriseaccountingstandardsandotherrelatedprovisionspromulgatedbytheMinistryofFinance(hereinaftercollectively“EnterpriseAccountingStandards”),aswellasthedisclosurerulessetforthinthe“RulesofInformationDisclosurePreparationandPresentationofCompaniesIssuingSecuritiesPubliclyNo.15—GeneralProvisionsforFinancialReporting”(2014revision)issuedbyCSRC.2.GoingconcernThecompanyoperatesnormallyandcontinuesmakingprofits,withoutanyplanstoterminateoperationsorliquidate;thecompanywillcontinueinoperationintheforeseeablefuture(notlessthan12monthsfromtheendofthisreportingperiod).V.ImportantaccountingpoliciesandaccountingestimatesReminderaboutspecificaccountingpoliciesandaccountingestimates:Basedonthepracticalproductionandoperationcharacteristics,andaccordingtoprovisionsoftherelatedenterpriseaccountingstandards,thecompanyhasformulatedspecificaccountingpoliciesandaccountingestimatesforprovisioningforbaddebtsofreceivables,inventoryvaluationuponshipment,depreciationofproductivebiologicalassets,depreciationoffixedassets,amortizationofintangibleassets,revenuerecognitionandothertransactionsandevents,asdetailedinthisNote5“(10)FinancialFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd316instruments,(11)Inventories,(16)Fixedassets,(19)biologicalassets,(20)Intangibleassets,(28)revenue”.1.StatementofcompliancewithenterpriseaccountingstandardsThesemiannualfinancialstatementsof2020preparedbythecompanycomplywiththerequirementsofenterpriseaccountingstandardsandreflecttrulyandcompletelythefinancialconditionasofJune30,2020,businessresultsofthefirsthalfof2020andcashflowofthecompany.Inaddition,thecompany'sfinancialstatementsinallmaterialaspectscomplywiththedisclosurerequirementsrelatedtofinancialstatementsandtheirnotesassetforthin“RulesofInformationDisclosurePreparationofCompaniesIssuingSecuritiesPubliclyNo.15—GeneralProvisionsforFinancialReporting”revisedbyCSRCin2014.2.AccountingperiodThecompany'saccountingperiodisdividedintoannualperiodandinterimperiod;thefiscalyearbeginsonJanuary1andendsonDecember31intheGregoriancalendar,andtheaccountinginterimperiodreferstoareportingperiodshorterthanonefullaccountingyear.3.OperatingcycleTheoperatingcycleofeachbusinesssegmentofthecompanyisshorterthanoneyear;thecompanyuses12monthsasacriterionforclassificationofliquidityofassetsandliabilities.4.AccountingcurrencyThecompanyanditsdomesticsubsidiariesuseRMBasaccountingcurrency;itsoverseassubsidiariesusecurrenciesinthemaineconomicenvironmentsinwhichtheyoperateasaccountingcurrencies,andoverseassubsidiariesshallpreparefinancialstatementsinaccountingcurrenciesandfinancialstatementsconvertedintoRMB.5.Accountingtreatmentmethodforbusinesscombinationsundercommoncontrolandnotundercommoncontrol(1)BusinesscombinationsundercommoncontrolWherethecompanytakesthepaymentofcash,transferofnoncashassets,assumptionofdebtsorissueofequitysecuritiesasthecombinationconsideration,thecapitalreserveisadjustedatthecombinationdatebythedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentandthebookvalueofconsiderationforcombinationpaid(orthetotalnominalvalueofissuedshares),withthebookvalueshareoftheshareholderequityofthecombinedpartyintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyastheinitialinvestmentcostofthelong-termequityinvestment;Retainedearningsareadjustedifthecapitalreserveisinsufficientforoffsettingpurposes.Foralong-termequityinvestmentresultingfrombusinesscombinationunderthecommoncontrolrealizedstepbystepthroughmultipletransactions,distinctionismadeastowhetheritisa“packagedeal”.Whereitisa“packagedeal”,alltransactionsareaccountedforasasingletransactionacquiringthecontrol.Incasethetransactionisnotapackagedeal,theshareoftheshareholderequityofthecombinedpartytobeacquiredinthebookvalueoftheconsolidatedfinancialstatementsoftheultimatecontrollingpartyistreatedastheinitialinvestmentcostoflong-termequityinvestmentatthedateofcombinationandthecapitalreserveisadjustedbythedifferencebetweentheinitialinvestmentcostoflong-termequityinvestmentandthesumofthebookvalueoflong-termequityinvestmentleadingtothecombinationandthebookvalueofconsiderationnewlypaidforfurtheracquisitionofsharesatthedateofconsolidation;ifthecapitalreserveisinsufficientforoffsettingpurposes,theretainedearningsareadjusted.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd317(2)BusinesscombinationsnotundercommoncontrolThecompanytreatsthecombinationcostsastheinitialinvestmentcostoflong-termequityattheacquisitiondate,andthecombinationcostconsistsofthesumofthefairvaluesofassetspaidbytheacquiringparty,liabilitiesincurredorassumedandequitysecuritiesissuedthereby.Foralong-termequityinvestmentresultingfrombusinesscombinationnotundercommoncontrolrealizedstepbystepthroughmultipletransactions,distinctionismadeastowhetheritisa“packagedeal”.Incaseofa“packagedeal”,alltransactionsareaccountedforasasingletransactionacquiringthecontrol.Incasethetransactionisa“packagedeal”,distinctionshallbemadebetweenindividualfinancialstatementsandconsolidatedfinancialstatementsforrelatedaccountingtreatment.Inindividualfinancialstatements,thesumofthebookvalueofanequityinvestmentheldintheacquiredpartypriortotheacquisitiondateandtheadditionalinvestmentcostsattheacquisitiondateistreatedastheinitialinvestmentcostofsuchinvestment;wheretheequitiesheldintheacquiredpartypriortotheacquisitiondateinvolveothercomprehensiveincome,theothercomprehensiveincomerelatedtheretoistransferredtothecurrentinvestmentincomewhendisposingofsuchinvestment.Intheconsolidatedfinancialstatements,theequitiesheldintheacquiredpartypriortotheacquisitiondatearere-measuredatfairvalueofsuchequitiesattheacquisitiondate,withthedifferencebetweenthefairvalueanditsbookvaluechargedtothecurrentinvestmentincome;wheretheequitiesheldintheacquiredpartypriortotheacquisitiondateinvolveothercomprehensiveincome,theothercomprehensiveincomerelatedtheretoistransferredtothecurrentinvestmentincomeattheacquisitiondate.Theaudit,legalservice,appraisalconsultingandotherintermediaryfeesandotherdirectrelatedexpensesincurredbythecompanyforbusinesscombinationarechargedtothecurrentprofitandlossasandwhenincurred.Thetransactioncostsofequitysecuritiesordebtsecuritiesissuedbythecompanyastheconsiderationforcombinationarechargedtotheinitiallyrecognizedamountoftheequitysecuritiesordebtsecurities.6.Methodforpreparationofconsolidatedfinancialstatements(1)PrinciplesfordeterminationofscopeofconsolidationThescopeofconsolidationofconsolidatedfinancialstatementsisdeterminedbasedoncontrol.Controlmeansthecompanyhasthepowerovertheinvesteetoenjoyvariablereturnbyparticipatingintherelatedactivitiesoftheinvesteeandhastheabilitytoexertitspowerovertheinvesteetoinfluencetheamountofitsreturn.Thescopeofconsolidationincludesthecompanyandallofitssubsidiaries(subsidiariesrefertotheentitiescontrolledbythecompany).(2)MethodforpreparationofconsolidatedfinancialstatementsTheconsolidatedfinancialstatementsarepreparedbythecompanybasedonthefinancialstatementsoftheparentcompanyanditssubsidiariesandaccordingtootherrelateddata.Iftheaccountingpolicyoraccountingperiodadoptedbyanyofitssubsidiariesisinconsistentwiththatadoptedbythecompany,necessaryadjustmentsaremadetothefinancialstatementsofsuchsubsidiaryaccordingtothecompany’saccountingpolicyoraccountingperiodwhenpreparingtheconsolidatedfinancialstatements.Forsubsidiariesacquiredbybusinesscombinationnotundercommoncontrol,adjustmentsaremadetotheirfinancialstatementsbasedonthefairvalueofidentifiablenetassetsattheacquisitiondate.Forsubsidiariesacquiredbybusinesscombinationunderthecommoncontrol,adjustmentsaremadetotheirfinancialstatementsbasedonthebookvalueoftheirassetsandliabilitiesintheultimatecontrollingparty’sfinancialstatements.Theconsolidatedbalancesheet,basedonthebalancesheetsoftheparentcompanyanditssubsidiaries,ispreparedafteroffsettingtheeffectsofthelong-termequityinvestmentsoftheparentcompanyinthesubsidiaries,theitemsofownershipinterestofthesubsidiariesandtheinternaltransactionsbetweentheparentcompanyanditssubsidiariesandbetweensubsidiariesontheconsolidatedbalancesheet;theconsolidatedincomestatement,basedontheincomestatementsoftheparentcompanyanditssubsidiaries,ispreparedafteroffsettingtheeffectsoftheinternaltransactionsbetweentheparentcompanyanditssubsidiariesandbetweensubsidiariesontheconsolidatedincomestatement.Theconsolidatedcashflowstatement,basedonthecashflowstatementsoftheparentcompanyanditssubsidiaries,ispreparedafteroffsettingtheeffectsoftheinternaltransactionsbetweentheparentFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd318companyanditssubsidiariesandbetweensubsidiariesontheconsolidatedcashflowstatement;theconsolidatedstatementofchangesinownershipinterest,basedonthestatementsofchangesinownershipinterestoftheparentcompanyanditssubsidiaries,ispreparedafteroffsettingtheeffectsofthelong-termequityinvestmentsoftheparentcompanyinthesubsidiaries,theshareoftheparentcompanyintheownershipinterestofthesubsidiaries,long-termequityinvestmentsofasubsidiaryinothersubsidiariesandshareofasubsidiaryinownershipinterestofothersubsidiariesandtheinternaltransactionsbetweentheparentcompanyanditssubsidiariesandbetweensubsidiariesontheconsolidatedstatementofchangesinownershipinterest.Theshareofownershipinterestofthesubsidiariesthatdoesnotbelongtotheparentcompanyandtheshareattributabletotheminorityinterestinthecurrentnetprofitorloss,othercomprehensiveincomeandtotalcomprehensiveincomearestatedundertheitem“minorityinterest,minorityinterestincome,othercomprehensiveincomeattributabletominorityshareholdersandtotalcomprehensiveincomeattributabletominorityshareholders”oftheconsolidatedfinancialstatementsrespectively;theminorityequityisstilloffsetifthelossesofasubsidiarysharedbyminorityshareholdersexceedtheshareofminorityshareholdersinthebeginningshareholderequityofsuchsubsidiary.Forsubsidiariesdisposedof,thebusinessresultsandcashflowpriortothedisposaldatehavebeenappropriatelyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatement;forsubsidiariesdisposedofinthecurrentperiod,thebeginningamountsintheconsolidatedbalancesheetarenotadjusted.Forsubsidiariesaddedduetobusinesscombinationnotundercommoncontrol,theirbusinessresultsandcashflowaftertheacquisitiondatehavebeenappropriatelyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatement,withoutadjustingthebeginningamountsandcomparativesintheconsolidatedfinancialstatements.Forsubsidiariesaddedduetobusinesscombinationundercommoncontrol(orthecombinedpartiesunderconsolidationbymerger),theirbusinessresultsandcashflowfromthebeginningoftheperiodofcombinationtothecombinationdatehavebeenappropriatelyincludedintheconsolidatedincomestatementandconsolidatedcashflowstatement,whileadjustingthebeginningamountsandcomparativesintheconsolidatedfinancialstatements.Whenpreparingtheconsolidatedfinancialstatements,thecapitalreserveisadjustedbythedifferencebetweenthelong-termequityinvestmentnewlyacquiredduetopurchaseofminorityinterestandtheshareofnetassetscontinuouslycalculatedbythesubsidiaryfromthedateofpurchase(ordateofcombination)ascalculatedatthenewly-addedshareholdingratio,withtheretainedearningstobeadjustedifthecapitalreserveisinsufficientforoffsettingpurposes.Wherethecontroloveranexistingsubsidiaryislostduetodisposalofpartofequityinvestmentorotherwise,theremainingequitiesarere-measuredatthefairvaluethereofatthedateoflossofcontrolwhenpreparingtheconsolidatedfinancialstatements.Thesumoftheconsiderationacquiredbydisposalofequitiesandthefairvalueofremainingequitiesminusthedifferencebetweensharesofthenetassetscontinuouslycalculatedbytheexistingsubsidiaryfromthedateofpurchaseascalculatedattheoriginalshareholdingratioischargedtotheinvestmentincomeduringtheperiodinwhichthecontrolislost.Othercomprehensiveincomerelatedtotheequityinvestmentintheexistingsubsidiaryareaccountedforonthesamebasisastheacquiredpartydirectlydisposesofrelatedassetsorliabilitiesatthetimeoflossofcontrol,i.e.,allitemsaretransferredtothecurrentprofitandloss,exceptforchangesresultingfromre-measurementofthenetliabilitiesornetassetsofthedefinedbenefitplanbysuchexistingsubsidiary.Thereafter,suchpartofremainingequitiesissubsequentlymeasuredaccordingtotheaccountingstandardsrelatedtolong-termequityinvestmentorfinancialinstruments,asdetailedin“Note5.(10)FinancialInstruments”or“Note5.(14)Long-termEquityInvestments”.Wherethecompanydisposesofitsequityinvestmentinasubsidiarystepbystepthroughmultipletransactionsuntillossofcontrol,distinctionneedstobemadeastowhetheralltransactionsconstituteapackagedeal.Iftheeffectofdisposalontermsandconditionsandeconomyofvarioustransactionsofequityinvestmentinthesubsidiarymeetsoneorseveralofthefollowingcriteria,itgenerallyindicatesthatthemultipletransactionsshouldbeaccountedforasapackagedeal:①Thesetransactionsareenteredintosimultaneouslyortakingintoaccountthemutualeffect;②Thesetransactionscanonlyachieveacompletecommercialresultifmadetogether;③Theoccurrenceofaparticulartransactiondependsuponoccurrenceofatleastoneothertransaction;④Aparticulartransactionisuneconomicaliflookedatindividually,butiseconomicalifconsideredtogetherwithothertransactions.Wherevarioustransactionsdonotconstituteapackagedeal,eachofthetransactionisaccountedforaccordingtotherelatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd319provisionsof“Partialdisposaloflong-termequityinvestmentinsubsidiaryincaseoflossofcontrol’(asdetailedin“Note5.(14)Long-termequityinvestments”)andtheprecedingparagraph“lossofcontrolovertheexistingsubsidiaryduetodisposalofpartofequityinvestmentorotherwise”respectively,asthecasemaybe.Wherevarioustransactionsinwhichtheequityinvestmentinasubsidiaryisdisposedofuntillossofcontrolconstituteapackagedeal,thevarioustransactionsareaccountedforasasingletransactionofdisposalofsubsidiaryandlossofcontrol;however,thedifferencebetweeneachdisposalpricebeforelossofcontrolandtheshareofnetassetsofsuchsubsidiarycorrespondingtodisposalofinvestmentisrecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatements,andtransferredtotheprofitandlossintheperiodoflossofcontrolalltogetheratthetimeoflossofcontrol.7.ClassificationofjointventurearrangementsandaccountingtreatmentmethodforjointoperationJointventurearrangementreferstoanarrangementinwhichtwoormoreparticipatingpartiessharethecontrol.Thejointventurearrangementsofthecompanyconsistofjointoperationandjointventureaccordingtotherightsenjoyedandobligationsassumedinthejointventurearrangements.Jointoperationreferstoajointventurearrangementinwhichthecompanyenjoystheassetsrelatedtosucharrangementandassumestheliabilitiesrelatedtosucharrangement.Jointventurereferstothejointventurearrangementinwhichthecompanyonlyhastherighttothenetassetsofsucharrangement.Asapartytojointoperation,therecognizesassetsseparatelyheldandliabilityseparatelyassumedbythecompanyandassetsheldjointlyandliabilitiesassumedjointlybythecompanyaccordingtoitsshare;recognizestheincomefromjointoperationduetosaleofproductsaccordingtothecompany’sshare;recognizestheexpensesincurredseparatelybythecompanyandrecognizestheexpensesincurredbyjointoperationaccordingtothecompany’sshare.Theinvestmentsofthecompanyinjointventureareaccountedforusingtheequitymethodandtreatedaccordingto“Note5.(14)Long-termequityinvestments”foraccountingpurposes.8.CriteriafordeterminationofcashandcashequivalentsThecashandcashequivalentsofthecompanyconsistofthecashonhand,depositsreadilyavailableforpaymentandinvestmentsheldbythecompanythathaveashortterm(generallyduewithin3monthsofthepurchasedate),arehighlyliquidandeasytoconvertintoaknownamountofcashandhaveminimumriskofvaluechange.9.Foreigncurrencytransactionsandforeigncurrencystatementtranslation(1)ForeigncurrencytransactionsThecompanyconvertstheforeigncurrencytransactionsfromforeign-currencyamountintoamountinfunctionalcurrencyatthespotexchangerateonthedateoftransaction,buttheforeignexchangetransactionsortransactionsinvolvingforeignexchangethatareincurredbythecompanyareconvertedintoamountsinaccountingcurrencyattheexchangerateactuallyused.Atthebalancesheetdate,theforeign-currencymonetaryitemsareconvertedatthespotexchangerateatthebalancesheetdate(i.e.,thecentralparityrateofRMBpublishedbythePeople’sBankofChina,thesamebelow),withtheresultingexchangedifferencegenerallychargedtothecurrentprofitandloss,exceptthat:①theexchangedifferenceresultingfromforeign-currencyspecialborrowingsrelatedtoacquisitionofassetsthatmeetthecapitalizationconditionsistreatedaccordingtotheprinciplesforcapitalizationofborrowingcosts;②theexchangedifferencefromhedginginstrumentsusedforeffectivehedgingofnetinvestmentsinoverseasoperationsischargedtoothercomprehensiveincomeandwillnotberecognizedascurrentprofitandlossuntildisposalofthenetinvestments;③theexchangedifferenceresultingfromchangesinbookbalancesofforeign-currencymonetaryitemsavailableforsaleotherthanamortizedcostsischargedtoothercomprehensiveincome.Foreign-currencynon-monetaryitemsmeasuredathistoricalcostarestillmeasuredattheamountinaccountingcurrencyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd320convertedatthespotexchangeratewhenthetransactionoccurs.Foreign-currencynon-monetaryitemsmeasuredatfairvalueareconvertedatthespotexchangerateatthedateofdeterminationoffairvalue,withthedifferencechargedtothecurrentprofitandlossorothercomprehensiveincome.(2)TranslationofforeigncurrencyfinancialstatementsWhenpreparationofconsolidatedfinancialstatementsinvolvesoverseasoperations,ifthereareforeign-currencymonetaryitemsthatsubstantiallyconstitutenetinvestmentsinoverseasoperations,theexchangedifferenceresultingfromchangesinexchangerateisrecognizedasothercomprehensiveincomeasthe“foreigncurrencystatementtranslationdifference”;whendisposingofoverseasoperations,suchexchangedifferentischargedtothecurrentprofitandlossfromdisposal.Themethodforforeigncurrencystatementtranslationofoverseasoperationsisasfollows:①Theitemsofassetsandliabilitiesinthebalancesheetareconvertedatthespotexchangerateatthedateofbalancesheet;allitemsofownershipinterestotherthantheitemof“undistributedprofits”areconvertedatthespotexchangeratewhenincurred,andtheitemof“undistributedprofits”iscalculatedandpresentedaccordingtoitemsofnetprofitsandprofitdistribution;thedifferenceintotalamountofitemsofassets,liabilitiesandownershipinterestafterconversionisrecognizedasothercomprehensiveincome,afterbeingtreatedastheforeigncurrencystatementtranslationdifference.Whenanoverseasoperationisdisposedofandthecontrolthereofislost,theforeigncurrencystatementtranslationdifferencepresentedundertheitemofothercomprehensiveincomeinthebalancesheetandrelatedtosuchoverseasoperationistransferredtothecurrentprofitandlossfromdisposalinentiretyoraccordingtotheratioofsuchoverseasoperationdisposedof.②Theitemsofincome,costandexpenseandothersintheincomestatementareconvertedattheexchangerateappropriatetothespotexchangeratewhenthetransactionoccurs.③Theitemsinthecashflowstatementthatreflecttheincurredamountsareconvertedttheexchangerateappropriatetothespotexchangeratewhenthetransactionoccurs,withtheeffectsofexchangeratechangesoncashpresentedseparatelyinthecashflowstatement.10.FinancialinstrumentsFinancialinstrumentsrefertotheinstrumentsthatformfinancialassetsofapartyandformthefinancialliabilitiesorequitiesofotherparties.(1)ClassificationoffinancialinstrumentsFinancialinstrumentsincludefinancialassetsandfinancialliabilities,consistingofmonetaryfunds,equityinvestmentsotherthanlong-termequityinvestments,receivables,payables,borrowings,bondspayableandsharecapital,etc.(2)RecognitionandinitialmeasurementoffinancialassetsandfinancialliabilitiesThecompanyrecognizesfinancialassetsandfinancialliabilitiesinthebalancesheetwhenitbecomesapartytotherelatedfinancialinstrumentcontractterms.Allfinancialassetsandfinancialliabilitiesaremeasuredatfairvalueatthetimeofinitialrecognition,exceptforaccountsreceivablethatdon’thavesignificantfinancingelement.Forfinancialassetsorfinancialliabilitiesatfairvaluethroughprofitorloss,relatedtransactioncostsaredirectlychargedtothecurrentprofitandloss;forothertypesoffinancialassetsorfinancialliabilities,relatedtransactioncostsarechargedtotheinitiallyrecognizedamounts.AccountsreceivablethathavesignificantfinancingelementareinitiallymeasuredbythecompanyatthetransactionpricedeterminedaccordingtotheaccountingpoliciescontainedinNote5(28).(3)Classificationandsubsequentmeasurementoffinancialassets①ClassificationoffinancialassetsThecompanygenerallyclassifiesfinancialassetsintodifferenttypesatthetimeofinitialrecognitionaccordingtothebusinessmodelformanagementoffinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets:financialassetsmeasuredFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd321atamortizedcost,financialassetsmeasuredatfairvaluethroughothercomprehensiveincomeandfinancialassetsatfairvaluethroughprofitorloss.Unlessthecompanychangesitsbusinessmodelformanagementoffinancialassets,inwhichcaseallrelatedfinancialassetsaffectedarereclassifiedthefirstdayduringthefirstreportingperiodafterthechangeinthebusinessmodel,financialassetsmaynotbereclassifiedafterinitialrecognition.Thecompanyclassifiesafinancialassetthatmeetsallofthefollowingconditionsatthesametimeandisnotdesignatedasatfairvaluethroughprofitandlossasafinancialassetmeasuredatamortizedcost.A.Thebusinessmodelofthecompanyformanagementofsuchfinancialassetaimsatreceivingcontractualcashflow;B.Thecontractualtermsofsuchfinancialassetprovidethatthecashflowarisingonaparticulardateconsistssolelyofpaymentofprincipalandinterestbasedonoutstandingprincipalamount.Thecompanyclassifiesafinancialassetthatmeetsallofthefollowingconditionsatthesametimeandisnotdesignatedasatfairvaluethroughprofitandlossasafinancialassetmeasuredatfairvaluethroughothercomprehensiveincome:A.Thebusinessmodelofthecompanyformanagementofsuchfinancialassetaimsatbothreceivingcontractualcashflowandsellingsuchfinancialasset;B.Thecontractualtermsofsuchfinancialassetprovidethatthecashflowarisingonaparticulardateconsistssolelyofpaymentofprincipalandinterestbasedonoutstandingprincipalamount.Forequityinstrumentinvestmentsheldnotfortrading,thecompanymayirrevocablydesignatethemasfinancialassetsatfairvaluethroughothercomprehensiveincomeatthetimeofinitialrecognition.Suchdesignationismadeonthebasisofindividualinvestmentsandtherelatedinvestmentsmeetthedefinitionofequityinvestmentfromtheperspectiveofissuer.Apartfromtheaforesaidfinancialassetsmeasuredatamortizedcostandfinancialassetsatfairvaluethroughothercomprehensiveincome,thecompanyclassifiesallfinancialassetsasfinancialassetsatfairvaluethroughprofitandloss.Atthetimeofinitialrecognition,iftheaccountingmismatchcanbeeliminatedorsignificantlyreduced,thecompanymayirrevocablydesignatefinancialassetsthatwouldotherwisebemeasuredatamortizedcostorfinancialassetsthatwouldotherwisebeatfairvaluethroughothercomprehensiveincomeasfinancialassetsatfairvaluethroughprofitandloss.Thebusinessmodelformanagementoffinancialassetsreferstohowthecompanymanagesthefinancialassetsinordertogeneratecashflow.Thebusinessmodeldetermineswhetherthesourceofcashflowfromfinancialassetsmanagedbythecompanyisreceivingcontractualcashfloworsellingfinancialassetsorboth.Thecompanydeterminesitsbusinessmodelformanagementoffinancialassetspursuanttoobjectivefactsandbasedonthespecificbusinessobjectivesdeterminedbythekeymanagementpersonnelformanagementoffinancialassets.Thecompanyassessesthecontractualcashflowcharacteristicsoffinancialassesinordertodeterminewhetherthecontractualcashflowfromrelatedfinancialassetsataparticulardateconsistssolelyofpaymentofprincipalandinterestbasedonoutstandingprincipalamount.Ofthem,theprincipalreferstothefairvalueofafinancialassetatthetimeofinitialrecognition;interestincludesthetimevalueofcurrency,thecreditriskassociatedwithoutstandingprincipalamountduringaspecificperiodandtheconsiderationforotherbasicloanrisks,costsandprofits.Inaddition,thecompanyassessesthecontractualtermsthatmightresultinchangestothetimedistributionoramountofcontractualcashflowfromafinancialassetinordertodeterminewhetheritmeetstherequirementsoftheaforesaidcontractualcashflowcharacteristics.②SubsequentmeasurementoffinancialassetsA.FinancialassetsatfairvaluethoughprofitorlossAftertheinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalueandtheresultinggainsorlosses(includinginterestanddividendincome)arechargedtothecurrentprofitandloss,unlesssuchfinancialassetsarepartofhedgingrelationship.B.FinancialassetsmeasuredatamortizedcostAftertheinitialrecognition,suchfinancialassetsaremeasuredatamortizedcostusingtheeffectiveinterestratemethod.ThegainsorlossesresultingfromafinancialassetthatismeasuredatamortizedcostandisnotpartofanyhedgingrelationshipareFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd322chargedtothecurrentprofitandlosswhenderecognized,amortizedaccordingtoeffectiveinterestratemethodorrecognizedwithrespecttoimpairment.C.DebtinvestmentsatfairvaluethroughothercomprehensiveincomeAftertheinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalue.Theinterest,impairmentlossorgainandexchangegainorlosscalculatedusingtheeffectiveinterestratemethodarechargedtothecurrentprofitandloss,withothergainsorlosseschargedtoothercomprehensiveincome.Atthetimeofde-recognition,theaccumulatedgainsorlossespreviouslychargedtoothercomprehensiveincomearetransferredoutofothercomprehensiveincomeandchargedtothecurrentprofitandloss.D.EquityinstrumentinvestmentsatfairvaluethroughothercomprehensiveincomeAftertheinitialrecognition,suchfinancialassetsaresubsequentlymeasuredatfairvalue.Thedividendrevenueischargedtoprofitandloss,andothergainsorlossesarechargedtoothercomprehensiveincome.Atthetimeofde-recognition,theaccumulatedgainsorlossespreviouslychargedtoothercomprehensiveincomearetransferredoutofothercomprehensiveincomeandchargedtotheretainedearnings.(4)ClassificationandsubsequentmeasurementoffinancialliabilitiesThecompanyclassifiesfinancialliabilitiesintofinancialliabilitiesatfairvaluethroughprofitorlossandfinancialliabilitiesmeasuredatamortizedcost.①FinancialliabilitiesatfairvaluethroughprofitorlossSuchfinancialliabilitiesincludefinancialliabilitiesheldfortrading(includingderivativeinstrumentsthatarefinancialliabilities)andfinancialliabilitiesdesignatedasatfairvaluethroughprofitorloss.Aftertheinitialrecognition,suchfinancialliabilitiesaresubsequentlymeasuredatfairvalue,andtheresultinggainsorlosses(includinginterestexpense)exceptotherwiserelatedtohedgeaccountingarechargedtothecurrentprofitandloss.②FinancialliabilitiesmeasuredatamortizedcostAftertheinitialrecognition,suchfinancialliabilitiesaremeasuredatamortizedcostusingtheeffectiveinterestratemethod.(5)OffsetFinancialassetsandfinancialliabilitiesarepresentedinthebalancesheetrespectively,withoutmutualoffset.However,whereallofthefollowingconditionsaremetatthesametime,financialassetsandfinancialliabilitiesarepresentedinthebalancesheetatthenetamountaftermutualoffset..①Thecompanyhasthelegalrighttooffsettherecognizedamountsandsuchlegalrightiscurrentlyenforceable;②Thecompanyplanstomakenettingsettlementorrealizesuchfinancialassetsandrepaysuchfinancialliabilitiesatthesametime.(6)De-recognitionoffinancialassetsandfinancialliabilitiesSuchfinancialassetisderecognizedwhenoneofthefollowingconditionsismet:①Thecontractualrighttoreceivethecashflowfromsuchfinancialassetterminates;②Suchfinancialassethasbeentransferredandalmostallriskandrewardontheownershipofsuchfinancialassethasbeentransferredbythecompanytothetransferee,③Suchfinancialassethasbeentransferredandthecompanyhaswaivedthecontrolofsuchfinancialassetalthoughthecompanyhasnottransferredorretainedalmostallriskandrewardontheownershipofthefinancialasset.Whenthefulltransferofafinancialassetmeetstheconditionsforde-recognition,thecompanychargesthedifferencebetweenthefollowingtwoamountstothecurrentprofitandloss:①Thebookvalueofthefinancialassetbeingtransferredatthedateofde-recognition;②Thesumofconsiderationreceivedduetotransferoffinancialassetandtheamountintheaccumulatedamountoffairvaluechangepreviouslydirectlychargedtotheothercomprehensiveincomethatcorrespondstothederecognizedportion(ifthefinancialassetsinvolvedintransferaredebtinvestmentsatfairvaluethroughothercomprehensiveincome).Whenthepresentobligationsforafinancialliability(orapartofit)havebeenreleased,thecompanyderecognizessuchFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd323financialliability(orsuchpartoffinancialliability).(7)ImpairmentThecompanyconductsimpairmentaccountingtreatmentandrecognizeslossprovisionsforthefollowingitemsbasedonexpectedcreditloss:A.Financialassetsmeasuredatamortizedcost;BContractassets;C.Debtinvestmentsatfairvaluethroughothercomprehensiveincome;D.LeasereceivablesOtherfinancialassetsmeasuredatfairvalueinthecompany’spossessionarenotapplicabletotheexpectedcreditlossmodel,includingdebtinvestmentsorequityinstrumentinvestmentsatfairvaluethroughprofitorloss,equityinstrumentinvestmentsdesignatedasatfairvaluethroughothercomprehensiveincome,andderivativefinancialassets.①MeasurementofexpectedcreditlossExpectedcreditlossreferstotheweightedaverageofcreditlossfromfinancialinstrumentswiththeriskofdefaultasweight.Creditlossreferstothedifferencebetweenallcontractualcashflowsofthecompanydiscountedbytheoriginalactualinterestrateandreceivableaccordingtocontractandallcashflowsexpectedtobereceived,i.e.,thepresentvalueofallcashshortfalls.Whenmeasuringtheexpectedcreditloss,thelongestperiodthatthecompanyneedstoconsideristhelongesttermofcontractwithrespecttowhichthecompanyfacescreditrisk(includingconsideringtherenewaloption).Expectedcreditlossduringtheentiredurationreferstotheexpectedcreditlossresultingfromanyandallpossibleeventsofdefaultduringtheentireexpecteddurationoffinancialinstruments.Expectedcreditlosswithinthenext12monthsreferstotheexpectedcreditlossresultingfrompossibleeventsofdefaultunderfinancialinstrumentswithin12monthsafterthedateofbalancesheet(ortheexpectedduration,iftheexpecteddurationoffinancialinstrumentislessthan12months),whichispartoftheexpectedcreditlossduringtheentireduration.Foraccountsreceivable,long-termreceivablesandcontractassetsformedfromtransactionssubjecttothe“EnterpriseAccountingStandard14—Revenue”,thecompanyalwaysmeasurestheirlossprovisionattheamountequivalenttotheexpectedcreditlossduringtheentireduration.Thecompanycalculatestheexpectedcreditlossfromtheaforesaidfinancialassetsbasedonthehistoricalcreditlossexperienceandusingtheprovisionmatrix,withrelatedhistoricalexperienceadjustedbasedonthespecificfactorsofborroweratthebalancesheetdateandtheassessmentofcurrentsituationandforecastfutureeconomiccondition.Exceptforaccountsreceivable,long-termreceivablesandcontractassetsformedfromtransactionssubjecttothe“EnterpriseAccountingStandard14—Revenue”,thecompanymeasuresthelossprovisionforthefinancialinstrumentsthatmeetoneofthefollowingcircumstancesattheamountequivalenttoexpectedcreditlosswithinthenext12months,andmeasuresthelossprovisionforotherfinancialinstrumentsattheamountequivalenttoexpectedcreditlossduringtheentireduration:A.Suchfinancialinstrumentonlyhasarelativelylowcreditriskatthebalancesheetdate;B.Thecreditriskofsuchfinancialinstrumenthasnotsignificantlyincreasedsincetheinitialrecognition.Havingarelativelylowcreditrisk.Ifthedefaultriskofafinancialinstrumentisrelativelylow,theborrowerishighlyabletoperformitscontractualcashflowobligationsinshorttermandtheabilityoftheborrowertoperformitscontractualcashflowobligationsisnotnecessarilyreducedevenifthereareadversechangestotheeconomicsituationandoperatingenvironmentinarelativelylongperiod,suchfinancialinstrumentisconsideredashavingarelativelylowcreditrisk.SignificantincreaseincreditriskThecompanydeterminestherelativechangesindefaultriskduringtheexpecteddurationofafinancialinstrumentbycomparingthedefaultriskofthefinancialinstrumentatthebalancesheetdateandthedefaultriskatthedateofinitialrecognition,inordertoassesswhetherthecreditriskofthefinancialinstrumenthasbeensignificantlyincreased.Whendeterminingwhetherthecreditriskhasbeensignificantlyincreased,thecompanyconsidersreasonableandwell-foundedinformationreadilyavailablewithoutincurringunnecessaryadditionalcostsorefforts,includingforward-lookinginformation.TheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd324informationconsideredbythecompanyincludes:A.Thecircumstancesinwhichthedebtorfailstopaytheprincipalandinterestbytheexpirydateofcontract;B.Severedeteriorationsofexternalorinternalcreditratingsofthefinancialinstrument(ifany)thathaveoccurredorareexpected;C.Severedeteriorationofthebusinessresultsofthedebtorthathaveoccurredorareexpected;D.Existingorexpectedchangestothetechnology,market,economicorlegalenvironmentthathasmaterialadverseeffectonthedebtor’sabilitytomakerepaymentstothiscompany.Accordingtothenatureofafinancialinstrument,thecompanyassesseswhetherthecreditriskhasbeensignificantlyincreasedbasedonindividualfinancialinstrumentsorfinancialinstrumentportfolio.Whenassessingbasedonfinancialinstrumentportfolio,thecompanymayclassifyfinancialinstrumentsbasedonthecommoncreditriskcharacteristics.Thecompanybelievesdefaultoccursforafinancialassetinthefollowingcircumstances:theborrowerisunlikelytopaytheamountsowedtothecompanyinfull,suchassessmentbeingwithoutregardtotherecourseandotheractionsthatthecompanywilltake,suchasrealizationofcollaterals(ifheld).FinancialassetswithrespecttowhichcreditimpairmenthasoccurredThecompanyassesseswhetherthefinancialassetsmeasuredatamortizedcostanddebtinvestmentsatfairvaluethroughothercomprehensiveincomehaveincurredcreditimpairmentatthebalancesheetdate.Whenoneorseveraleventsthathaveadverseeffectontheexpectedfuturecashflowofafinancialassetoccur,suchfinancialassetbecomesafinancialassetwithrespecttowhichcreditimpairmenthasoccurred.Theevidencethatafinancialassethasincurredcreditimpairmentincludesthefollowingobservableinformation:A.Theissuerordebtorisexperiencingsignificantfinancialdifficulties;B.Thedebtorhasviolatedacontract,suchasdefaultordelinquentinrepaymentofinterestorprincipal;C.Thecompanygivesthedebtorconcessionsthatwouldotherwisenotbemadeinanycircumstancesoutofconsiderationforeconomyorcontractrelatedtothefinancialdifficultiesofthedebtor;D.Thedebtorishighlylikelytogobankruptorconductotherfinancialreorganization;E.Thefinancialdifficultiesoftheissuerordebtorhaveresultedindisappearanceofactivemarketsforsuchfinancialasset.②PresentationofprovisionforexpectedcreditlossToreflectthechangesincreditriskofafinancialinstrumentsinceitsinitialrecognition,thecompanyre-measurestheexpectedcreditlossateachbalancesheetdate,asaresultofwhichtheincreasedorreversedamountoflossprovisionischargedtothecurrentprofitandlossasimpairmentlossorgain.Forafinancialassetmeasuredatamortizedcost,thelossprovisioniscreditedagainstthebookvalueofsuchfinancialassetindicatedinthebalancesheet;foradebtinvestmentthatismeasuredatfairvalueandwhosechangesarechargedtoothercomprehensiveincome,thecompanyrecognizesitslossprovisioninothercomprehensiveincome,withoutchargingagainstthebookvalueofsuchfinancialasset.③Write-offIfthecompanynolongerreasonablyexpectsthatthecontractualcashflowofafinancialassetcanberecoveredinfullorinpart,thecompanydirectlywritesdownthebookbalanceofsuchfinancialasset.Suchwrite-downconstitutesde-recognitionofrelatedfinancialassets.Suchcircumstanceusuallyariseswhenthecompanydeterminesthedebtorhasnoassetorincomesourcethatcangeneratesufficientcashflowtorepaythewritten-downamount.However,thewritten-downfinancialassetmightstillbeaffectedbytheenforcementactivitiesrelatedtocollectionofamountsduebythecompany.Thewritten-downfinancialassetthatissubsequentlyrecoveredischargedtotheprofitorlossintheperiodofrecoveryasthereversalofimpairmentloss.(8)EquityinstrumentsTheconsiderationreceivedbythecompanyfromissueofequityinstrumentsischargedtotheshareholderequityafterdeductionofthetransactioncosts.Theshareholderequityisreducedbytheconsiderationandtransactioncostspaidtorepurchasetheequityinstrumentsofthecompany.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd325Whenrepurchasingthesharesinthecompany,thesharesrepurchasedaremanagedastreasurysharesandanyandallexpensesincurredtorepurchasesharesaretransferredtothecostsoftreasuryshares,whilethesameareregisteredatthesametimeforfuturereference.Treasurysharesdonotparticipateinprofitdistributionandarepresentedastheitemofallowanceforshareholderequityinthebalancesheet.Whencancellingtreasuryshares,thesharecapitalisreducedbythetotalnominalvalueofcancelledstock,andtheportionofthecostsoftreasurysharesinexcessofthetotalnominalvalueischargedagainstthecapitalreserve(sharecapitalpremium),surplusreserveandundistributedprofitsinsuccession;wherethecostsoftreasurysharesarelowerthanthetotalnominalvalue,thecapitalreserve(sharecapitalpremium)isincreasedbytheportionlowerthanthetotalnominalvalue.Whentransferringtreasuryshares,thecapitalreserve(sharecapitalpremium)isincreasedbytheportionofthetransferincomeinexcessofthecostsoftreasuryshares;theportionlowerthanthecostsoftreasurycostsischargedagainstthecapitalreserve(sharecapitalpremium),surplusreserveandundistributedprofitsinsuccession.Equityinstrumentreferstoacontractevidencingthatthecompanyhastheremainingequitiesintheassetsofaparticularenterpriseaftereducationofallliabilities.Thetransactioncostsincurredbythecombiningpartytoissueequityinstrumentsinbusinesscombinationareoffsetagainstthepremiumincomeontheequityinstruments,orarechargedagainsttheretainedearningsifsuchtransactioncostsareinsufficientforoffsettingpurposes;forremainingequityinstruments,theshareholderequityisincreasedbytheconsiderationreceivedatthetimeofissueafterdeductionofthetransactioncosts.Theshareholderequityisreducedbyvariousdistributionsmadebythecompanytoholdersofequityinstruments(excludingstockdividends).Thecompanydoesnotrecognizethechangesinfairvalueofequityinstruments.11.InventoriesThecompanyshallcomplywiththedisclosurerequirementssetforthin“ShenzhenStockExchange’sIndustryInformationDisclosureGuidanceNo.1---ListedCompaniesEngagedinLivestock,PoultryandAquacultureBusinesses”.(1)ClassificationofinventoriesInventoriesareclassifiedintorawmaterials,packagingmaterials,productsinprogress,merchandisesinstock,low-valueconsumables,goodsshipped,outsourcedprocessedsupplies,consumptivebiologicalassetsandrevolvingmaterials.(2)Valuationmethodforinventoriesshipped:Forinventoriesshipped,costsarecarriedoverusingtheweightedaveragemethodonamonthlybasis.(3)BasisofdeterminationofnetrealizablevalueofinventoryandmethodforaccrualofinventoryrevaluationreserveAttheendofperiod,whentheinventorycostislowerthanthenetrealizablevalue,theinventoryismeasuredatcost;whentheinventorycostishigherthanthenetrealizablevalue,theinventoryismeasuredatnetrealizablevalue,andtheinventoryrevaluationreserveaccruesbythedifferenceofthecostoverthenetrealizablevalueandischargedtothecurrentprofitandloss.Thenetrealizablevaluereferstotheamountoftheestimatedsellingpriceofinventoryminusthecostsestimatedtoincuruptothetimeofcompletion,theestimatedsellingcostsandrelatedtaxesandchargesinthedailyactivities.Forinventoriesthatarenumerousandhavealowunitprice,theinventoryrevaluationreserveaccruesbytheinventorytype.Forinventorieshavingthesameorsimilarenduseorpurposeandrelatedtotheproductseriesproducedanddistributedinthesameareaanddifficulttovaluateseparatelyfromotheritemsofsuchproductseries,theinventorydeprecationreserveaccruesonaconsolidatedbasis;forotherinventories,theinventoryrevaluationreserveaccruesbythedifferencethecostofindividualinventoryiteminexcessofitsnetrealizablevalue.(4)InventorysystemTheinventoryfollowstheperpetualinventorysystem.(5)Amortizationmethodforlow-valueconsumablesandpackagingmaterialsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd326Low-valueconsumablesandpackagingmaterialsareamortizedusingtheone-offamortizationmethodwhenrequisitioned.Revolvingmaterialsthathavelargesumsandarelativelylongservicelifeareamortizedusingthestage-wiseaverageamortizationmethod.12.Contractcost(1)CategoriesandrecognitionofcontractcostContractcostincludestheincrementalcostincurredtoacquirecontractsandcontractperformancecostTheincrementalcostincurredtoacquirecontractsreferstothecostthatthecompanywouldnotincurifthecontractsarenotacquired(suchassalescommission,etc).Ifsuchcostisexpectedtoberecovered,thecompanyrecognizesitanassetbytreatingitascontractacquisitioncost.Otherexpendituresincurredbythecompanytoacquireacontractotherthantheincrementalcostexpectedtoberecoveredarechargedtothecurrentprofitandlossasandwhenincurred.Wherethecostincurredtoperformacontractthatisoutsidethescopeofinventoriesorotherwisenotsubjecttootherenterpriseaccountingstandardsandmeetsallofthefollowingconditions,thecompanyrecognizesitasanassetbytreatingitascontractperformancecost:①Suchcostisdirectlyrelatedtoacontractcurrentlyacquiredorexpectedtobeacquired,includingdirectlabor,directmaterials,manufacturingcosts(orsimilarcosts),costsspecifiedtobebornebycustomersandothercostsincurredsolelyduetosuchcontract;②Suchcosthasincreasedtheresourcestobeusedbythecompanyforperformingitsperformanceobligationsinthefuture;③Suchcostisexpectedtoberecovered.(2)AmortizationandimpairmentofcontractcostTheassetsforwhichcontractacquisitioncostisrecognizedandtheassetsforwhichcontractperformancecostisrecognized(hereinafter,“assetsrelatedtocontractcost”)areamortizedonthesamebasisasrecognitionofrevenuefromgoodsorservicesrelatedtosuchassetsandchargedtothecurrentprofitandloss.Theyarechargedtocurrentprofitandlossasandwhenincurrediftheamortizationperiodisnomorethanoneyear.Whenthebookvalueofanassetrelatedtocontractcostishigherthanthedifferencebetweenthefollowingtwoitems,thecompanymakesimpairmentprovisionfortheexcessportionandrecognizesitasassetimpairmentloss:①Theresidualconsiderationthatthecompanyexpectstoreceiveduetotransferofgoodsorservicesrelatedtosuchasset;②Thecostestimatedtobeincurredtotransfersuchrelatedgoodsorservices.Aftermakingtheimpairmentprovision,ifthefactorsofimpairmentinthepreviousperiodchangedsuchthattheaforesaiddifferenceofthe①minus②ishigherthanthebookvalueofsuchasset,theassetimpairmentprovisionpreviouslymadeisreversedandchargedtothecurrentprofitandloss,providedthatthebookvalueoftheassetafterreversalshallnotexceedthebookvalueofsuchassetatthereversaldateshouldtheimpairmentprovisionnothavebeenmade.13.AssetsheldforsaleWhenthecompanyrecoversthebookvalueanoncurrentassetordisposalgroupmainlybysellingratherthancontinuouslyusingit,suchnoncurrentassetordisposalgroupisclassifiedasheldforsale.Disposalgroupreferstoagroupofassetsthataredisposedofthroughsaleorotherwiseasawholeinasingletransaction,andtheliabilitiestransferredinsuchtransactionthatredirectlyrelatedtotheseassets.Thecompanyclassifiesanoncurrentassetordisposalgroupthatmeetsbothofthefollowingconditionsasheld-for-salecategory:(1)SuchnoncurrentassetordisposalgroupisreadilyavailableforsaleunderthecurrentconditionsaccordingtotheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd327customarypracticesofsaleofsuchtypeofassetsordisposalgroupsinsimilartransactions;(2)Thesaleishighlylikelytooccur,i.e.,thecompanyhasmadearesolutiononasaleplan,hasexecutedlegallybindingpurchaseagreementwithotherpartiesandexpectsthatthesalewillbecompletedwithinayear.Thecompanyinitiallyandsubsequentlymeasuresnoncurrentassets(excludingfinancialassets,deferredincometaxassetsandinvestmentpropertysubsequentlymeasuredusingthefairvaluemodel)ordisposalgroupsheldforsaleatthebookvalueandthenetamountoffairvalueminusthesellingcosts,whicheverislower,andrecognizesthedifferenceofbookvaluehigherthanthenetamountoffairvalueminussellingcostsastheassetimpairmentlossandchargesittothecurrentprofitandloss.14.Long-termequityinvestmentsLong-termequityinvestmentsrefertoequityinvestmentsthathavecontrol,commoncontrolorsignificantinfluenceovertheinvestee,includinginvestmentsinsubsidiaries,affiliatesandjointventures.Theequityinvestmentswherebythecompanyhasnocontrol,commoncontrolorsignificantinfluenceovertheinvesteeareaccountedforasfinancialassetsavailableforsaleorfinancialassetsatfairvaluethroughprofitorloss,withrespecttowhichtheaccountingpoliciesaredetailedin“Note5.(10)Financialinstruments”.(1)JudgmentcriteriaforcommoncontrolandsignificantinfluenceCommoncontrolreferstothecontrolsharedbythecompanyoveraparticulararrangementaccordingtoapplicablecovenants,providedthattherelatedactivitiesundersucharrangementmaynotbedecidedwithouttheunanimousconsentofparticipantssharingthecontrol.Wherethecompanyandotherjointventurepartiesjointlyexertcommoncontrolovertheinvesteeandenjoytherighttothenetassetsoftheinvestee,theinvesteeisdeemedajointventureofthecompany.Significantinfluencereferstothepowertoparticipateindecisionmakingregardingthefinancialandbusinesspoliciesofanenterprise,butnotenoughtocontrolorjointlycontroltheformulationofthesepolicieswithotherparties.Wherethecompanyisabletoexertsignificantinfluenceontheinvestee,theinvesteeisdeemedanaffiliateofthecompany.Whenthecompanydirectlyorindirectlythroughsubsidiariesholdsmorethan20%(inclusive)butlessthan50%ofthevotingsharesintheinvestee,thecompanyisgenerallyconsideredashavingsignificantinfluenceovertheinvestee,unlessthereisconclusiveevidencehatthecompanycannotparticipateintheproductionandbusinessdecisionsoftheinvestee.Whenthecompanyholdslessthan20%ofthevotingsharesintheinvestee,butoneorseveralofthefollowingcircumstancesexist,thecompanywillgiveoverallconsiderationtoallfactsandcircumstancesandmakejudgmentsaboutwhetherithassignificantinfluenceornot:①Therepresentationofthecompanyontheboardofdirectorsorsimilargoverningbodyoftheinvestee;②Participationinthefinancialandbusinessdecisionmakingprocessoftheinvestee;③Materialtransactionsbetweenthecompanyandtheinvestee;④Assignmentofmanagerstotheinvestee;⑤Provisionofkeytechnicaldatatotheinvestee.(2)Determinationofinitialinvestmentcost①Long-termequityinvestmentresultingfrombusinesscombinationThemethodsfordeterminationofinitialinvestmentcostoflong-termequityinvestmentresultingfrombusinesscombinationaredetailedin“Note5.(5)Accountingtreatmentmethodforbusinesscombinationundercommoncontrolandnotundercommoncontrol”②Long-termequityinvestmentsacquiredbyotherwisethanbusinesscombinationForlong-termequityinvestmentacquiredbypaymentincash,thepurchasepriceactuallypaidistreatedastheinitialinvestmentcost.Initialinvestmentcostconsistsofcosts,taxesandothernecessaryexpensesdirectlyrelatedtoacquisitionofthelong-termequityinvestment.Forlong-termequityinvestmentacquiredbyissueofequitysecurities,thefairvalueofequitysecuritiesissuedshouldbetreatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd328astheinitialinvestmentcost.Providedthatanon-monetaryassetexchangeissubstantiallycommercialandthefairvalueoftheassetswappedinorswappedoutcanbereliablymeasured,theinitialinvestmentcostoflong-termequityinvestmentreceivedinthenon-monetaryassetexchangeisdeterminedbasedonthefairvalueofassetswappedoutandtherelatedtaxespayable,unlessthatthereisconclusiveevidencethatthefairvalueoftheassetswappedinismorereliable.Fornon-monetaryassetexchangethatdoesnotmeettheaforesaidcondition,thebookvalueoftheassetswappedoutandtherelatedtaxespayablearetreatedastheinitialinvestmentcostofthelong-termequityinvestmentswappedin.Theinitialinvestmentcostoflong-termequityinvestmentacquiredbymeansofdebtreorganizationisdeterminedbasedonfairvalue.(3)SubsequentmeasurementandprofitandlossrecognitionmethodLong-termequityinvestmentswherebythecompanyexertscontrolovertheinvesteeareaccountedforusingthecostmethod;Long-termequityinvestmentsinaffiliatesandjointventuresreaccountedforusingtheequitymethod.①Long-termequityinvestmentaccountedforusingthecostmethodWhenaccountedforusingthecostmethod,thelong-termequityinvestmentsarevaluatedattheinitialinvestmentcost,withthecostsoflong-termequityinvestmentsadjustedbytheadditionalorrecoveredinvestments.Exceptforthepriceactuallypaidatthetimeofacquisitionofinvestmentorcashdividendsorprofitsincludedintheconsiderationthathavealreadybeendeclaredbutnotyetdistributed,thecurrentincomeoninvestmentisrecognizedatthecashdividendsorprofitsdeclaredanddistributedbytheinvesteethatthecompanyisentitledto.②Long-termequityinvestmentaccountedforusingtheequitymethodWhenaccountingforusingtheequitymethod,theinitialinvestmentcostoflong-termequityinvestmentisnotadjustediftheinvestmentcostofalong-termequityinvestmentishigherthanthecompany’sshareoffairvalueofidentifiablenetassetsoftheinvesteeatthetimeofinvestment;fftheinvestmentcostoflong-termequityinvestmentislessthantheshareoffairvalueofidentifiablenetassetsoftheinvesteeatthetimeofinvestment,theresultingdifferenceischargedtothecurrentnon-businessincome,whileadjustingthecostoflong-termequityinvestment.Whenaccountingforundertheequitymethodandduringtheperiodofholdingofalong-termequityinvestment,thecompanyrecognizestheinvestmentincomeandothercomprehensiveincomerespectivelyattheshareofnetgainsandlossesandothercomprehensiveincomerealizedbytheinvestee,whilethebookvalueoflong-termequityinvestmentisadjustedatthesametime;theshareiscalculatedattheprofitsorcashdividendsdeclaredanddistributedbytheinvestee,andthebookvalueofthelong-termequityinvestmentisreducedaccordingly;forchangesinownershipinterestoftheinvesteeotherthannetprofitsandlosses,othercomprehensiveincomeandprofitdistribution,thebookvalueoflong-termequityinvestmentisadjustedandchargedtothecapitalreserve.Whenrecognizingtheshareofnetprofitsandlossesoftheinvestee,thenetprofitsoftheinvesteeareadjustedbeforerecognitionbasedonthefairvalueofthenetidentifiableassetsoftheinvesteeatthetimeofacquisitionofinvestment;iftheaccountingpoliciesandaccountingperiodadoptedbytheinvesteeareinconsistentwiththoseadoptedbythecompany,thefinancialstatementsoftheinvesteeareadjustedaccordingtothecompany’saccountingpolicesandaccountingperiod,andtheinvestmentincomeandothercomprehensiveincomearerecognizedaccordingly;theaforesaidadjustmentstothefinancialstatementsoftheinvesteeneedtofollowtheprincipleofmateriality.Forthetransactionsbetweenthecompany(includingitssubsidiaries)andaffiliatesorjointventures,wheretheassetsinvestedorsolddonotconstitutebusiness,theportionofprofitandlossonunrealizedinternaltransactionsthatisattributabletothecompanyiscalculatedatthepercentagethatthecompanyisentitledtoandthenoffset,onwhichbasistheinvestmentincomeorlossisrecognized,providedthattheunrealizedinternaltransactionlossesincurredbetweenthecompanyandtheinvesteewhichareimpairmentlossoftheassetsbeingtransferredarenotoffset.Whenrecognizingthenetlossesincurredbytheinvesteethatthecompanyshallshare,thecompanyrecognizessuchnetlossesuntilthebookvalueoflong-termequityinvestmentandotherlong-termequitiesthatsubstantiallyconstitutethenetinvestmentintheinvesteearewrittendowntozero,Inaddition,ifthecompanyhastheobligationtobeliableforadditionallossesoftheinvestee,theFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd329estimatedliabilitiesarerecognizedaccordingtotheexpectedobligationsandchargedtothecurrentinvestmentloss.Wheretheinvesteerealizesnetprofitsinthesubsequentperiods,thecompanyresumesrecognitionoftherevenueshareaftertherevenuesharecoverstheunrecognizedshareoflosses.Wherethecompanybecomesabletoexertsignificantinfluenceorcommoncontrolovertheinvesteebutwhichdoestnotconstitutecontrolduetoadditionalinvestmentsorotherwise,thesumofthefairvalueoftheoriginallyheldequityinvestmentdeterminedaccordingtothe“EnterpriseAccountingStandardNo.22—RecognitionandMeasurementofFinancialInstruments”andtheadditionalinvestmentcostistreatedastheinitialinvestmentcostaccountedforusingtheequitymethodinstead.Wheretheoriginallyheldequityinvestmentisclassifiedasotherequityinstrumentinvestment,thedifferencebetweenitsfairvalueandbookvalueandtheaccumulatedfairvaluechangepreviouslychargedtoothercomprehensiveincomeshouldbetransferredtocurrentprofitandlossaccountedforusingtheequitymethodinstead.(4)Impairmenttestmethodforlong-terminvestmentandmethodforprovisioningforimpairmentThecompanyjudgeswhetheralong-termequityinvestmenthasanyindicationofimpairmentatthebalancesheetdateandconductsimpairmenttestasifitisanindividuallong-terminvestmentsifthereexistsanyindicationofimpairment.Iftheresultsofimpairmenttestindicatethattherecoverableamountofalong-termequityinvestmentislowerthanitsbookvalue,theimpairmentprovisionaccruesattheresultingdifferenceandischargedtoimpairmentloss.(5)Disposaloflong-termequityinvestmentsIntheconsolidatedfinancialstatements,thecompanypartiallydisposesofitslong-termequityinvestmentsinasubsidiarywithoutlosingcontrol,andthedifferencebetweenthedisposalpriceandtheshareofnetassetsofthesubsidiarycorrespondingtodisposalofthelong-termequityinvestmentischargedtotheshareholderequity;wherethecompanypartiallydisposesofitslong-termequityinvestmentsinasubsidiary,resultinginlossofcontrolofthesubsidiary,accountingtreatmentismadeaccordingtotherelatedaccountingpoliciessetforthin“Note5.(6)Methodsforpreparationofconsolidatedfinancialstatements”Fordisposalofalong-termequityinvestmentunderothercircumstances,thedifferencebetweenitsbookvalueandpriceactuallyreceivedischargedtothecurrentprofitandloss.Foralong-termequityinvestmentaccountedforusingtheequitymethod,wheretheremainingequitiesafterdisposalremainaccountedforusingtheequitymethod,accountingtreatmentismadetotheportionofothercomprehensiveincomepreviouslychargedtoshareholderequityatthetimeofdisposalatthecorrespondingratioandonthesamebasisastheinvesteedirectlydisposesofrelatedassetsorliabilities.Theownershipinterestoftheinvesteerecognizedduetochangesinownershipinterestotherthannetprofitsandlosses,othercomprehensiveincomeandprofitdistributionistransferredtothecurrentprofitandlossonaproratabasis.Foralong-termequityinvestmentaccountedforusingthecostmethod,wheretheremainingequitiesafterdisposalremainaccountedforusingthecostmethod,theothercomprehensiveincomerecognizedpriortoacquisitionofcontroloftheinvesteeduetoaccountingusingtheequitymethodorthefinancialinstrumentrecognitionandmeasurementstandardsistreatedforaccountingpurposesonthesamebasisastheinvesteedirectlydisposesofrelatedassetsorliabilities,andcarriedovertothecurrentprofitandlossonaproratbasis;theownershipinterestchangesinthenetassetsoftheinvesteeotherthannetprofitsandlosses,othercomprehensiveincomeandprofitdistributionthatarerecognizedduetoaccountingusingtheequitymethodarecarriedovertothecurrentprofitandlossonaproratabasis.Wherethecompanylosescontrolovertheinvesteeduetodisposalofaportionofequityinvestment,whenpreparingindividualfinancialstatements,theremainingequitiesafterdisposalareaccountedforusingtheequitymethodinsteadiftheyareabletoexertcommoncontrolorsignificantinfluenceovertheinvestee,andsuchremainingequitiesareadjustedasiftheyareaccountedforusingtheequitymethodsinceacquisitionthereof;iftheremainingequitiesafterdisposalareunabletoexertcommoncontrolorsignificantinfluenceovertheinvestee,theyareaccountedforaccordingtotheapplicableprovisionsofthefinancialinstrumentrecognitionandmeasurementstandardsinstead,andthedifferencebetweentheirfairvalueandbookvalueatthedateoflossofcontrolischargedtothecurrentprofitandloss.Forothercomprehensiveincomerecognizedduetoaccountingusingtheequitymethodorthefinancialinstrumentrecognitionandmeasurementstandardspriortoacquisitionofcontrolovertheinvesteebythecompany,itistreatedforFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd330accountingpurposesatthetimeoflossofcontrolovertheinvesteeonthesamebasisastheinvesteedirectlydisposesofrelatedassetsorliabilities,whiletheownershipinterestchangesinthenetassetsoftheinvesteeotherthannetprofitsandlosses,othercomprehensiveincomeandprofitdistributionthatarerecognizedduetoaccountingusingtheequitymethodarecarriedovertothecurrentprofitandlossatthetimeoflossofcontrolovertheinvestee.Ofthem,wheretheremainingequitiesafterdisposalareaccountedforusingtheequitymethod,othercomprehensiveincomeandotherownershipinterestarecarriedoveronaproratabasis;wheretheremainingequitiesafterdisposalaretreatedforaccountingpurposesaccordingtothefinancialinstrumentrecognitionandmeasurementstandardsinstead,othercomprehensiveincomeandotherownershipinterestarecarriedoverinentirety.Ifthecompanylosescommoncontrolorsignificantinfluencetheinvesteeduetodisposalofaportionofequityinvestment,theremainingequitiesafterdisposalareaccountedforaccordingtothefinancialinstrumentrecognitionandmeasurementstandardsinstead,andthedifferencebetweentheirfairvalueandbookvalueatthedateoflossofcommoncontrolorsignificantinfluenceischargedtothecurrentprofitandloss.Theothercomprehensiveincomerecognizedontheoriginalequityinvestmentduetoaccountingusingtheequitymethodistreatedforaccountingpurposesonthesamebasisastheinvesteedirectlydisposeoftherelatedassetsorliabilitieswhentheequitymethodceasestoapplyforaccounting.Theownershipinterestrecognizedduetochangestoownershipinterestoftheinvesteeotherthannetprofitsandlosses,othercomprehensiveincomeandprofitdistributionistransferredtothecurrentprofitandlossinfullwhentheequitymethodceasestoapplyforaccounting.15.InvestmentpropertiesMeasurementmodelforinvestmentpropertiesMeasurementusingthecostmethodDepreciationoramortizationmethod(1)ClassificationofinvestmentpropertiesInvestmentpropertyreferstorealpropertyheldtoearnrentorforcapitalappreciationorboth,includingleasedlanduseright,landuserightheldfortransferafterappreciationandleasedbuildings,etc.(2)MeasurementofinvestmentpropertyPurchasedinvestmentpropertyisinitiallymeasuredatthecostatthetimeofacquisition,whichconsistsofthepurchaseprice,relatedtaxesandexpensesdirectlyattributabletosuchasset;thecostsofinvestmentpropertybuiltbythecompanyconsistoftheexpendituresrequiredtobringtheinvestmentpropertytotheintendedstateofusability.Thesubsequentexpendituresrelatedtoinvestmentpropertiesarechargedtothecostsofinvestmentpropertiesiftheeconomicbenefitsrelatedtosuchassetarehighlylikelytoflowtothecompanyanditscostscanbereliablymeasured.Othersubsequentexpendituresarechargedtothecurrentprofitandlossasandwhenincurred.Investmentpropertiesaresubsequentlymeasuredusingthecostmodel,andinvestmentpropertieswhicharehousesandbuildingsaredepreciatedbycategoryusingthestraight-linemethod;aninvestmentpropertythatislanduserightisamortizedovertheservicelifeusingthestraight-linemethod.Theassetcategories,estimatedeconomicservicelives,annualdepreciation(amortization)ratesandestimatednetresidualvalueratesareasfollows:CategoryEstimatedeconomicservicelifeAnnualdepreciationrateEstimatednetresidualvaluerateHousesandbuildings40years2.38%5%Whenaninvestmentpropertywithrespecttowhichimpairmentprovisionhasbeenaccruedisdepreciated,thedepreciationrateanddepreciationamountarerecalculatedanddeterminedaccordingtoitsbookvalueandremainingservicelife;wheretheinvestmentpropertyislanduseright,itisamortizedonaverageininstallmentsovertheservicelifefromthemonthofavailabilitytothetimeofde-recognition,andchargedtothecurrentprofitandloss.(3)RecognitioncriteriaandaccrualmethodforimpairmentprovisionforinvestmentpropertyAttheendofperiod,theinvestmentpropertiesareexamineditembyitemandtheimpairmentprovisionaccruesbytheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd331differenceoftheestimatedrecoverableamountofindividualinvestmentpropertylowerthanitsbookvalueonthebasisoftheexpectedabilityofindividualinvestmentpropertiestobringfutureeconomicbenefitstothecompany,buttheassetimpairmentloss,oncerecognized,willnotbereversedinthesubsequentaccountingperiods.Whenthecompanychangesthepurposeofaninvestmentproperty,forexampletoselfuse,therelatedinvestmentpropertiesaretransferredtootherassets.16.Fixedassets(1)RecognitionconditionsFixedassetsofthecompanyarehousesandbuildings,machineryequipment,transportvehiclesandothertoolsandapparatusesrelatedtobusinessoperationthatareheldbythecompanyforproductionofcommodities,provisionofservices,leasingorbusinessmanagementandthathaveaservicelifeofmorethanoneyear.Afixedassetisrecognizedwhentheeconomicbenefitsrelatedtosuchfixedassetarehighlylikelytoflowtothecompanyandthecostofsuchfixedassetcanbereliablymeasured.(2)DepreciationmethodCategoryDepreciationmethodDepreciationperiodResidualvaluerateAnnualdepreciationrateHousesandbuildingsStraight-linemethod20-40years5%2.38%-4.75%MachineryandequipmentStraight-linemethod8-16years5%5.94%-11.88%TransportequipmentStraight-linemethod5years5%19.00%OthersStraight-linemethod3-55%19.00%-31.67%Thecompanydepreciatesallfixedassets,exceptforfixedassetsthathavebeenfullydepreciatedandcontinueinuse.Thecompanydepreciatesitsfixedassetsbycategoryusingthestraight-linemethod,andthecategories,estimatedservicelives,estimatednetresidualvalueratesandannualdepreciationratesoffixedassetsareasshownintheabovetable.Whenafixedassetwithrespecttowhichimpairmentprovisionhasaccruedisdepreciated,thedepreciationrateanddepreciationamountarerecalculatedanddeterminedaccordingtothebookvalueofsuchfixedasset(i.e.theoriginalpriceoffixedassetminustheaccumulateddepreciationandimpairmentprovisionaccrued)andtheremainingservicelife.(3)ImpairmenttestmethodandimpairmentprovisionaccrualmethodforfixedassetsAttheendofperiod,thecompanyexaminesitsfixedassetsitembyitemandaccruesfixedassetimpairmentprovisionbythedifferenceoftherecoverableamountofanindividualassetlowerthanitsbookvalueandchargesittothecurrentprofitandlossifitsrecoverableamountbecomeslowerthanthebookvalueduetocontinuousdeclineofmarketprices,technologicalobsolescence,damage,long-termidlenessorotherwise.Theassetimpairmentloss,oncerecognized,willnotbereversedinthesubsequentaccountingperiods.Theimpairmentprovisionisaccruedinfullforafixedassetthatfallsintoanyofthefollowingcategories:①Afixedassetthatremainsoutofserviceforaprolongedperiodoftimeandwillnotbereusedintheforeseeablefutureandhasnovalueoftransfer.②Afixedassetthathasbecomenolongerusableduetotechnologicaladvancementorotherwise.③AFixedassetthatproducesalargenumberofnonconformingproductswhenusedalthoughitisstillusable.④Afixedassetthathasbeendamagedordestroyedtosuchextentthatitisnolongerhasthevalueofuseorvalueoftransfer.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd332⑤Otherfixedassetsthathavebeensubstantiallyunabletobringeconomicbenefitstothecompany.(4)Basisofdetermination,valuationanddepreciationmethodforfixedassetsleasedunderfinancialleaseWhenafixedassetleasedsubstantiallytransfersallriskandrewardrelatedtotheownershipofasset,theleasingofsuchfixedassetisrecognizedasfinancialleasing.Forthecostsoffixedassetsleasedunderfinancialleasing,theloweroftheoriginalbookvalueoftheleasedassetatthecommencementdateofleaseandthepresentvalueoftheminimumleasepaymentistreatedastherecordedvalue,andthefixedassetsleasedunderfinancialleasingemploythedeprecationpolicyconsistentwiththeself-owned,depreciableassets.(5)OthersThesubsequentexpendituresrelatedtoafixedassetarechargedtothecostsoffixedassetsiftheeconomicbenefitsrelatedtosuchfixedassetarehighlylikelytoflowtothecompanyanditscostscanbereliablymeasured,whilederecognizingthebookvalueofthereplacedportion.Allsubsequentexpendituresotherthantheaforesaidonesarechargedtothecurrentprofitandlossasandwhenincurred.Thedifferenceofdisposalincomefromsale,transfer,scrappingordestructionofafixedassetafterdeductionofitsbookvalueandrelatedtaxesischargedtothecurrentprofitandloss.Thecompanydeterminestheservicelifeandestimatednetresidualvalueofafixedassetbasedonthenatureandusageofthefixedasset.Attheendofyear,thecompanyreviewstheservicelife,estimatednetresidualvalueanddepreciationmethodoffixedassets.17.Worksinprogress(1)CategoriesofworksinprogressWorksinprogressmainlyconsistofself-operatedworks,contracted-outworksandequipmentinstallationworks.Theprojectcostsofworksinprogressaredeterminedbytheexpendituresactuallyincurred,andself-operatedworksaremeasuredatthedirectmaterials,directwageanddirectconstructioncosts;contracted-outworksaremeasuredattheprojectpricepayable;theprojectcostsofequipmentinstallationworksaredeterminedbythevalueofequipmentinstalled,instillationcostsandtheexpendituresincurredbyprojectcommissioning,etc.Thecostsofworksinprogressalsoincludetheborrowingcostsandexchangegainsorlossesthatshouldbecapitalized.(2)Standardandtimeforcarry-overofworksinprogresstofixedassetsWhereafixedassetbuiltreachestheintendedstateofusabilitybuthasnotyetcompletedthefinalsettlementofaccount,theworkistransferredtofixedassetsbytheestimatedvalueaccordingtotheprojectbudget,costandactualcostofworkasofthedatewhenitreachestheintendedstateofusability,andthedepreciationaccruescommencingfromthenextmonth,subjecttoadjustmentuponcompletionofthefinalsettlementofaccount.(3)ImpairmenttestmethodandimpairmentprovisionaccrualmethodforworksinprogressWhereoneorseveralofthefollowingcircumstancesexist,thecompanymakesimpairmentprovisionforworksinprogressbythedifferenceofendingrecoverableamountlowerthanitsbookvalueoftheworkinprogress.Theassetimpairmentloss,oncerecognized,willnolongerbereversedduringthesubsequentaccountingperiods.①Worksthathavelongbeenstoppedandexpectednottorecommencewithinthenext3years:②Theprojectbeingbuiltisoutdatedintermsofbothperformanceandtechnologyandthereishighuncertaintyastotheeconomicbenefitsthatitcanbringtothecompany;Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd333③Othercircumstancessufficienttoprovethattheworkinprogresshasbeenimpaired.18.Borrowingcosts(1)RecognitionprinciplesforcapitalizationofborrowingcostsTheborrowingcostsincurredbythecompanythatcanbedirectlyattributedtotheacquisitionorproductionofassetsthatmeetthecapitalizationconditionsarecapitalizedandchargedtotherelatedassetcost;otherborrowingcostsarerecognizedasexpensebasedontheirincurredamountsatthetimeofoccurrenceandthenchargedtothecurrentprofitandloss.Assetsthatmeettheconditionsforcapitalizationrefertofixedassets,investmentproperties,inventoriesandotherassetsthatcanreachtheintendedusableormarketablestateonlyafteraconsiderablylongperiod(morethan1year)ofacquisitionorproductionactivities.(2)CapitalizationperiodofborrowingcostsThecapitalizationperiodreferstotheperiodfromthecommencementtimeofcapitalizationofborrowingcoststothetimeofcessationofcapitalization,excludingtheperiodduringwhichthecapitalizationofborrowingcostsissuspended.Theborrowingcostsbegintobecapitalizedwhenmeetingthefollowingconditionsatthesametime:①Thecapitalexpenditurehasalreadybeenincurred,includingtheexpenditureincurredintheformofpaymentincash,transferofnon-cashassetsorassumptionofinterest-bearingdebtsinordertoacquireorproduceassetsthatmeettheconditionsforcapitalization;②Borrowingcostshavealreadybeenincurred;③Theacquisitionorproductionactivitiesnecessarytobringtheassetstotheintendedusableormarketablestatehavestarted.Whentheassetsacquiredorproducedthatmeettheconditionsforcapitalizationreachtheintendedusableormarketablestate,theborrowingcostsceasetobecapitalized.(3)SuspensionofcapitalizationperiodWheretheacquisitionofassetsthatshouldbecapitalizedisinterruptedabnormallyduetomanagementdecisionsorotherunforeseeablereasonsforacontinuousperiodofmorethan3months,thecapitalizationofborrowingcostsissuspendedandsuchborrowingcostsarerecognizedascurrentexpenseuntilresumptionoftheacquisitionoftheassets.(4)Calculationmethodforcapitalizedamountofborrowingcosts①Forthespecialborrowingsborrowedtoacquireorproduceanassetthatmeetstheconditionsforcapitalization,thecapitalizedamountoftheborrowingcostsisdeterminedbasedontheinterestexpenseactuallyincurredintheperiodofspecialborrowingminustheinterestincomeacquiredfromdepositingoftheunusedborrowedfundsinthebankortheamountofinvestmentincomeacquiredontemporaryinvestment.②Forgeneralborrowingsusedtoacquireorproduceanassetthatmeetstheconditionsforcapitalization,theinterestamountonthegeneralborrowingstobecapitalizediscalculatedanddeterminedbasedonthecapitalexpenditureweightedaverageoftheportionofaccumulatedassetexpenseinexcessofthespecialborrowingmultipliedbythecapitalizationrateofthegeneralborrowingsused.Thecapitalizationrateiscalculatedbasedontheweightedaverageinterestrateofgeneralborrowing.Duringthecapitalizationperiod,thecapitalizedamountofinterestineachaccountingperiodshallnotexceedtheinterestamountactuallyincurredontherelatedborrowingsintheperiod.19.BiologicalassetsProductivebiologicalassetsrefertothebiologicalassetsheldforproductionofagriculturalproducts,includingimmatureproductivebiologicalassetsandmatureproductivebiologicalassets.Productivebiologicalassetsareinitiallymeasuredatcost:(1)Thecostsofpurchasedproductivebiologicalassetsincludepurchaseprice,relatedtaxes,transportcosts,insurancecostsandFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd334otherexpendituresdirectlyattributabletopurchaseofsuchassets.(2)Thecostsofself-bredproductivelivestockconsistofthefeedstuffcosts,laborcosts,allocableindirectcostsandothernecessaryexpendituresincurredtoachievethepredefinedpurposeofproductionandoperation(matureage).(3)Thecostsofbiologicalassetsinvestedbyinvestorsaredeterminedaccordingtothevaluesetforthintheinvestmentcontractoragreement,exceptthatthevaluesetforthinthecontractoragreementisunfair.Subsequentmeasurementofproductivebiologicalassets:forproductivebiologicalassetsthathaveachievedthepredefinedpurposeofproductionandoperation(i.e.,matureproductivebiologicalassets),theirservicelifeandestimatednetresidualvaluearedeterminedtobedepreciatedaccordingtothestraight-linemethodorworkloadmethodbasedontheirnature,usageandexpectedwayofrealizationofrelatedeconomicbenefits,andtheamountssodepreciatedarechargedtothecostsofrelatedassetsorcurrentprofitandlossrespectivelyaccordingtopurposes.Theservicelivesandestimatednetresidualvaluesofmatureproductivebiologicalassetsofthecompanyareasfollows:CategoryEstimatedservicelife(orproductionoutput)EstimatednetresidualvalueBreedingsows36months500-1400Yuan/pigBreedingboars18months500-1400Yuan/pigBreedinghens155eggs/90eggs(molting)25Yuan/henBreedingducks245eggs/120eggs(molting)30Yuan/henAttheendofeachyear,thecompanyexaminesitsproductivebiologicalassets,andaccruestheimpairmentprovisionforproductivebiologicalassetsbythedifferenceofthenetrealizablevaluelowerthanbookvalueandchargesittothecurrentprofitandlossifthereisconclusiveevidencethattherecoverableamountofproductivebiologicalassetsislowerthanitsbookvalue.Theimpairmentprovisionforproductivebiologicalassets,onceaccrued,willnotbereversedduringtheexistenceoftheassets.Thecompanyshallcomplywiththedisclosurerequirementssetforthin“ShenzhenStockExchange’sIndustryInformationDisclosureGuidanceNo.1---ListedCompaniesEngagedinLivestock,PoultryandAquacultureBusinesses”.20.Intangibleassets(1)Valuationmethod,servicelifeandimpairmenttestIntangibleassetsrefertotheidentifiablenon-monetaryassetsownedorcontrolledbythecompanywithoutphysicalform.①ValuationmethodforintangibleassetsIntangibleassetsareinitiallymeasuredattheactualcost,i.e.,allexpendituresincurredtoacquiretheintangibleassetsandbringthemtotheintendedpurposearetreatedasthecostsofintangibleassets.A.Thecostsofapurchasedintangibleassetincludethepurchaseprice,relatedtaxesandotherexpendituresdirectlyattributabletobringingsuchassettotheintendedpurpose.B.Forinternally-developedintangibleassets,expendituresattheresearchphaseofinternalR&Dprojectarechargedtothecurrentprofitandlosswhenincurred.ExpendituresatthedevelopmentphaseofinternalR&Dprojectarerecognizedasintangibleassetswhentheconditionsaremet.C.Intangibleassetsinvestedbyinvestorsaredeterminedaccordingtothevaluesetforthintheinvestmentcontractoragreement,exceptthatthevaluesetforthinthecontractoragreementisunfair.D.Intangibleassetsacquiredbyacceptingdebtservicefromthedebtorintheformofnoncashassetsorintangibleassetsreceivedinexchangeforclaimsreceivablearerecordedatthefairvalueoftheintangibleassetsswappedin.E.Foranintangibleassetinvestedbynon-monetarytransactions,thefairvalueofsuchintangibleassetandtherelatedtaxespayablearetreatedastherecordedcosts.F.Foranintangibleassetresultingfromacceptanceofdonation,wherethedonatingpartyprovidesrelatedevidence,theFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd335intangibleassetisvaluatedattheamountindicatedontheevidenceplustherelatedtaxespayable;wherethedonatingpartydoesnotproviderelatedevidence,ifthereareactivemarketsforthesameorsimilarintangibleassets,theamountestimatedbythemarketpriceofthesameorsimilarintangibleassetsplustherelatedtaxespayableistreatedastheactualcosts;iftherearenoactivemarketsforthesameorsimilarintangibleassets,thepresentvalueoftheestimatedfuturecashflowfromthedonatedintangibleassetacceptedistreatedastheactualcosts.Thecompanyanalyzesandjudgestheservicelifeofanintangibleassetwhenacquiringit.Anintangibleassetwithalimitedservicelifeisamortizedusingthestraight-linemethod;intangibleassetswithuncertainservicelifearenotamortized.②EstimationofservicelifeofintangibleassetswithlimitedservicelifeA.Bytheperiodspecifiedbylawsandregulations,ifany;B.Bytheperiodofbenefitspecifiedintherelatedcontractifthereisnoperiodspecifiedbylawsandregulations;C.Bythereasonablyestimatedservicelifeifthereisnoperiodspecifiedbylawsandregulationsorcontractsandtheeconomicservicelifecanbereasonablyestimated.D.Tobeamortizedoveraperiodofnomorethan10yearsifthereisnoperiodspecifiedasaboveItemEstimatedservicelifeBasisLanduseright40-50yearsValidperiodprescribedbylawPatents10or20yearsValidperiodprescribedbylawTrademarks10yearsValidperiodprescribedbylawOtherofficesoftware3yearsReasonableestimation③JudgmentcriteriaforintangibleassetswithuncertainservicelifeThecompanyjudgeslanduserightsheldbyoverseassubsidiariesasintangibleassetswithuncertainservicelife.④ProvisioningforimpairmentofintangibleassetsTheimpairmentprovisionforanintangibleassetismadebythedifferenceoftherecoverableamountoftheintangibleassetlowerthanitsnetbookvalue;therecoverableamountisdeterminedbythehigherofthefairvalueoftheintangibleassetminusthedisposalcostsandthepresentvalueofestimatedfuturecashflowfromtheintangibleasset.(2)AccountingpolicyoninternalR&Dexpenditures①Specificcriteriafordivisionoftheresearchphaseanddevelopmentphaseofthecompany’sinternalR&DprojectA.Researchphaseofinternaldevelopmentprojecta.TheR&Dprojecthasbeenapprovedbytheboardofdirectorsormanagementtoconductplannedactivitiessuchasdatacollection,marketsurveyandcomparisonofproductsinthemarkets;b.DataandotherrelatedpreparationactivitiesareconductedforfurtherR&Dproducts,withoutformingmilestoneachievements.B.Developmentphaseofinternaldevelopmentproject:a.TheresearchresultsattheR&Dphasehavebeenspeciallyappliedtoproduceneworsubstantiallyimproveddevicesorproducts,etc;b.Thepossibilityofformationofresultsishigh.②AccountingofexpendituresoninternalR&DprojectsTheexpendituresattheresearchphaseofthecompany’sinternalR&Dprojectsarechargedtothecurrentprofitandlossasandwhenincurred;theexpendituresatthedevelopmentphaseofthecompany’sinternalR&Dprojectsarerecognizedasintangibleassetswhenallofthefollowingconditionsaremetatthesametime,otherwisechargedtothecurrentprofitandlossasandwhenincurred.A.Thecompletionofsuchintangibleassettomakeitusableorsellableistechnicallyfeasible;Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd336B.Thereisanintentiontocomplete,useorsellsuchintangibleasset;C.Thewaytheintangibleassetgenerateseconomicbenefitsconsistsoftheabilitytoprovethereisamarketforproductsproducedusingsuchintangibleassetoramarketfortheintangibleassetitself,providedthatiftheintangibleassetistobeusedinternally,itsusefulnessshouldbedemonstrated;D.Therearesufficienttechnical,financialandothersupportstocompletethedevelopmentofsuchintangibleassetandthereisabilitytouseorsellsuchintangibleasset;E.Theexpenditureattributabletothedevelopmentphaseofsuchintangibleassetcanbereliablymeasured.21.Impairmentoflong-termassetsWithrespecttofixedassets,worksinprogress,productivebiologicalassets,intangibleassets,investmentpropertiesmeasuredusingcostmodel,long-termequityinvestmentsinsubsidiaries,jointventuresandaffiliatesandothernon-financialnoncurrentassets,thecompanyjudgesatthebalancesheetdatewhetherthereisanyindicationofimpairment(asdetailedinthejudgmentofimpairmentindicationssetforthintheaccountingpoliciesforvariouslong-termassetssuchasfixedassets);ifthereisanyindicationofimpairment,itsrecoverableamountisestimatedandimpairmenttestconducted.Iftheresultsofimpairmenttestindicatethattherecoverableamountofanassetislowerthanitsbookvalue,theimpairmentprovisionismadeattheresultingdifferenceandsuchdifferenceischargedtoimpairmentloss.Therecoverableamountisthefairvalueofanassetminusthedisposalcostsandthepresentvalueofanticipatedfuturecashflowfromtheasset,whicheverishigher.Thefairvalueofanassetisdeterminedbasedonthepriceofsalesagreementinarms’lengthtransaction.Ifthereisnosalesagreementbutanactivemarketfortheasset,thefairvalueisdeterminedbythebidpriceofthebuyerofsuchasset.Ifthereisnosalesagreementoractivemarketfortheasset,thefairvalueoftheassetisestimatedbasedonthebestavailableinformation.Disposalcostsincludelegalcosts,relatedtaxesandhandlingcostsrelatedtoassetdisposalanddirectcostsincurredtobringtheassettothemarketablestate.Theanticipatedfuturecashflowfromanassetisdeterminedaccordingtothepresentvalueoftheanticipatedfuturecashflowgeneratedduringthecontinuoususeandatthefinaldisposalasdiscountedusinganappropriatediscountingrate.Theassetimpairmentprovisioniscalculatedandrecognizedbasedontheindividualassets,butifitisdifficulttoestimatetherecoverableamountofanindividualasset,therecoverableamountoftheassetgrouptowhichsuchassetbelongsisdetermined.Theassetgroupisthesmallestgroupofassetsthatcangeneratecashinflowindependently.Goodwillissubjectedtoimpairmenttesteveryyear,regardlessofwhetherthereisanyindicationofimpairment.Whenimpairmenttestisconductedforgoodwill,thebookvalueofgoodwillisallocatedtotheassetgrouporcombinationofassetgroupsthatisanticipatedtobenefitfromthesynergisticeffectsofbusinesscombination;iftheresultsoftestindicatethattherecoverableamountoftheassetgrouporcombinationofassetgroupscontainingtheallocatedgoodwillislowerthanitsbookvalue,theimpairmentlossisrecognized.Theamountofimpairmentlossisfirstoffsetagainstthebookvalueofgoodwillallocatedtosuchassetgrouporcombinationofassetgroupbeforebeingoffsetagainstthebookvalueofotherassetsprorataaccordingtothepercentageofbookvalueofotherassetswithintheassetgrouporcombinationofassetgroupotherthangoodwill.Theaforesaidassetimpairmentloss,oncerecognized,willnotbereversedinthesubsequentaccountingperiods.22.Long-termunamortizedexpensesLong-termunamortizedexpensesaccountforvariouscoststhathaveoccurredandhaveanamortizationperiodofmorethanoneyear.Thelong-termunamortizedexpensesarerecordedattheactuallyincurredamountandareamortizedovertheperiodofbenefitorspecifiedamortizationperiod,usingthestraight-linemethod.Ifalong-termunamortizedexpenseitemcannotbenefitthesubsequentaccountingperiods,theamortizedvalueofsuchitemthathasnotyetbeenamortizedistransferredinfulltothecurrentprofitandloss.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd33723.ContractliabilitiesContractliabilitiesrefertotheobligationofacompanytotransfergoodstoacustomerfortheconsiderationreceivedorreceivablefromthecustomer.Suchastheamountsalreadyreceivedbythecompanybeforetransferofthepromisedgoods.24.Employeecompensation(1)Accountingtreatmentmethodforshort-termcompensationShort-termcompensationcompriseswage,bonus,allowanceandsubsidy,employeebenefits,medicalinsurancecosts,maternityinsurancecosts,industrialinjuryinsurancecosts,housingfund,tradeunionoutlays,employeeeducationexpenditureandnon-monetarybenefits,etc.Thecompanyrecognizesshort-termemployeecompensationactuallyincurredasliabilitiesduringtheaccountingperiodinwhichtheemployeesprovideservicestothecompanyandchargesittothecurrentprofitandlossorrelatedassetcost.Ofthem,thenon-monetarybenefitsaremeasuredatfairvalue.(2)Accountingtreatmentmethodforpost-employmentbenefitsA.DefinedcontributionplanThecompany’sdefinedcontributionplanmainlycomprisesbasicendowmentinsurance,unemploymentinsuranceandetc,andrecognizesthemasliabilitiesatthepayableamountduringtheaccountingperiodinwhichtheemployeesprovideservicestothecompanyandchargesthemtorelatedassetcostsorthecurrentprofitandloss.B.DefinedbenefitplanThecompanyattributesthebenefitobligationsresultingfromthedefinedbenefitplantotheperiodduringwhichemployeesprovideservicesbasedontheformuladeterminedusingtheexpectedaccumulatedbenefitunitmethodbeforechargingthemtothecurrentprofitandlossorrelatedassetcosts.Thedeficitorsurplusresultingfromthepresentvalueofthedefinedbenefitplanobligationsminusthefairvalueofthedefinedbenefitplanassetsisrecognizedasthenetliabilitiesornetassetsofadefinedbenefitplan.Wherethereisanysurplusforthedefinedbenefitplan,thecompanymeasuresthenetassetsofthedefinedbenefitplanatthesurplusofthedefinedbenefitplanortheupperlimitofasset,whicheverislower.Alldefinedbenefitplanobligationsincludingtheexpectedpaymentobligationswithin12monthsoftheendoftheannualreportingperiodinwhichtheemployeesprovideservicesarediscountedbasedonthemarketrateofreturnofthenationaldebtsorthehigh-qualitycorporatebondsontheactivemarketthatarecommensuratewiththeperiodandcurrencyofthedefinedbenefitplanatthedateofbalancesheet.Theservicecostsresultingfromthedefinedbenefitplanandthenetinterestonthenetassetsornetliabilitiesofthedefinedbenefitplanarechargedtothecurrentprofitandlossorrelatedassetcost;thechangesresultingfromre-measurementofnetassetsornetliabilitiesofthedefinedbenefitplanarechargedtoothercomprehensiveincomeandarenotreversedtoprofitandlossinthesubsequentaccountingperiods.Whenthedefinedbenefitplanissettled,thegainorlossonsettlementisrecognizedatthedifferencebetweenthepresentvalueofthedefinedbenefitobligationasdeterminedatthesettlementdateandthesettlementprice.(3)AccountingtreatmentmethodforterminationbenefitsIftheemploymentrelationshipwithanyemployeeisterminatedbeforetheexpirationoftheemploymentcontractorasuggestionconcerningcompensationisprovidedtoencouragetheemployeestovoluntarilyacceptthejobdisplacement,thepayrollliabilitiesresultingfromterminationbenefitsarerecognizedandchargedtothecurrentprofitandloss,whenthecompanycannotunilaterallyrevoketheterminationbenefitsprovidedduetotheemploymentrelationshipterminationplanortheseparationFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd338suggestionorthecompanyrecognizesthecostsrelatedtothereorganizationinvolvingpaymentofterminationbenefits,whicheveroccursearlier.Butiftheterminationbenefitsareanticipatednottobepaidinfull12monthsoftheendoftheannualreportingperiod,suchterminationbenefitsaretreatedasotherlong-termemploymentcompensation.(4)Accountingtreatmentmethodforotherlong-termemployeebenefitsOtherlong-termemployeebenefitsprovidedbythecompanytoitsemployeesaretreatedforaccountingpurposesaccordingtothecontributionbenefitplaniftheycomplywiththedefinedcontributionplan.Otherwise,suchbenefitsaretreatedforaccountingpurposesaccordingtothedefinedbenefitplan.25.EstimatedliabilitiesEstimatedliabilitiesareliabilitiesthatmightresultfromcontingencies,includinganticipatedliabilitiesresultingfromprovisionofexternalguarantees,pendinglitigations,productqualityassuranceandreorganizationobligation,etc.(1)CriteriaforrecognitionofestimatedliabilitiesIfanobligationincurredbythecompanyisrelatedtocontingenciesandmeetsthefollowingconditionsatthesametime,thecompanyrecognizessuchobligationasestimatedliabilityinthebalancesheet:①Suchobligationisapresentobligationofthecompany;②Theperformanceofsuchobligationishighlylikelytoresultinoutflowofeconomicbenefitsfromthecompany;③Theamountofsuchobligationcanbereliablymeasured.(2)MeasurementmethodforestimatedliabilitiesAtthebalancesheetdate,consideringtherisksrelatedtocontingencies,uncertaintyandtimevalueofmoneyandotherfactors,theestimatedliabilitiesaremeasuredbythebestestimatesofexpendituresrequiredtofulfilltherelatedpresentobligationsandthebookvalueofestimatedliabilitiesisreviewedateachsubsequentbalancesheetdate.Wherethereisconclusiveevidencethatsuchbookvaluecannottrulyreflectthecurrentbestestimate,suchbookvalueisadjustedaccordingtothecurrentbestestimate.Iftheexpendituresrequiredtorepaytheestimatedliabilitiesareexpectedtobecompensatedbyathirdpartyinpartorinfull,theamountofcompensationisrecognizedseparatelyasanassetwhenitissubstantiallydeterminedthatitcanbereceivedandtherecognizedamountofcompensationdoesnotexceedthebookvalueoftheestimatedliabilities.Afterthelossesincurredbyaninvesteearechargedagainstthebookvalueoflong-termequityinvestmentandotherlong-termequitiesthatsubstantiallyconstitutenetinvestmentsintheinvestee(long-termreceivablesorotherreceivables)tozero,whereadditionalobligationsarestillassumedaccordingtocontractandagreement,theportionexpectedtobeassumedisrecognizedasestimatedliabilities.26.Share-basedpaymentTheshare-basedpaymentofthecompanyisatransactioninwhichthecompanygrantsequityinstrumentsorassumesliabilitiesdeterminedbasedonequityinstrumentsinexchangeforservicesprovidedbyitsemployeesorotherparties.Share-basedpaymentconsistsofshare-basedpaymentsettledinequitiesandshare-basedpaymentsettledincash.(1)Share-basedpaymentsettledinequitiesinexchangeforservicesorothersimilarservicesofemployeesthatisimmediatelyexercisableupongrantwithoutvestingperiodischargedtotherelatedcostsorexpensesatthefairvalueofequityinstrumentatthegrantdate,withthecapitalreserveincreasedaccordingly.Share-basedpaymentsettledincashthatisimmediatelyexercisableupongrantischargedtorelatedcostsorexpensesatthefairvalueofliabilitiesassumedatthegrantdate,withthecapitalreserveincreasedaccordingly.(2)Forshare-basedpaymentwithvestingperiod,ateachbalancesheetdateduringthevestingperiod,theservicesreceivedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd339fromemployeesorotherspartiesarechargedtothecostsandexpenses,providedthatiftheequitysettlementinvolvesemployees,theshare-basedpaymentismeasuredatthefairvalueoftheequityinstrumentatthegrantdatebasedonthebestestimateofthequantityofexercisableequityinstruments,withthecapitalreserveincreasedaccording;incaseofshare-basedpaymentsettledincash,itisre-measuredandrecognizedatthefairvalueofliabilitiesassumedatthebalancesheetdate,withtheliabilitiesincreasedaccordingly;incaseofshare-basedpaymentsettledinequitiesthatinvolvereceiptofservicesfromotherpartiesinexchange,itismeasuredatthefairvalueofsuchservicesfromotherpartiesattheacquisitiondate(oratthefairvalueofequityinstrumentatthedateofreceiptofservicesifreliablemeasurementcannotbemade),withthecapitalreserveincreasedaccordingly.(3)Forshare-basedpaymentsettledinequities,thesharecapitalandcapitalpremiumarerecognizedaccordingtothestatusofexerciseattheexercisedate,whilecarryingoverothercapitalreserverecognizedduringthevestingperiod.Afterthevestingdate,thecostsandexpensesandtotalequitiesrecognizedwillnolongerbeadjusted.(4)Forshare-basedpaymentsettledincash,costsandexpenseswillnolongerberecognizedafterthevestingdateandthechangesinfairvalueofliabilitiesarechargedtothecurrentprofitandloss(profitandlossonchangesinfairvalue).Thecompanyhadnoshare-basedpaymentsduringthereportingperiod.27.Preferredshares,perpetualbondsandotherfinancialinstrumentsForpreferredshares,perpetualbonds,subscriptionright,convertiblecorporatebondsandotherfinancialinstruments,thecompanyclassifiessuchfinancialinstrumentsortheircomponentsasfinancialassets,financialliabilitiesorequityinstrumentsatthetimeofinitialrecognitionaccordingtothecontractualtermsoffinancialinstrumentsissuedandtheeconomicsubstancereflectedthereby,inconjunctionwiththedefinitionsoffinancialassets,financialliabilitiesorequityinstruments.Wherethenon-derivativefinancialinstrumentsissuedcontainthecomponentoffinancialliabilitiesandcomponentofequityinstruments,thefairvalueoffinancialliabilitycomponentisfirstdeterminedatthetimeofinitialrecognition(includingthefairvalueofnon-equityembeddedderivativeinstrumentsthatmightbecontainedtherein)beforedeductingthefairvalueofliabilitycomponentfromthefairvalueofcompoundfinancialinstrumentasthevalueoftheequityinstrumentcomponent.Otherfinancialinstrumentssuchaspreferredsharesandperpetualbondsthatareclassifiedasdebtinstrumentsareinitiallymeasuredattheamountoffairvalueafterdeductionofthetransactioncostsandaresubsequentlymeasuredattheamortizedcostusingtheeffectiveinterestratemethod,withtheirinterestexpenseordividenddistributiontobetreatedasborrowingcostsandthegainsorlossesresultingfromtheirrepurchaseorredemptionchargedtothecurrentprofitandloss.Forotherfinancialinstrumentssuchaspreferredsharesandperpetualbondsthatareclassifiedasequityinstruments,theownershipinterestisincreasedbytheconsiderationreceivedatthetimeofissueafterdeductionoftransactioncosts,withtheirinterestexpenseordividenddistributiontobetreatedasprofitdistributionandtheirrepurchaseorcancellationtreatedaschangesinequities.Accountingtreatmentwhenthechangesintheconditionsormatterssetforthinoriginalcontractualtermsoffinancialinstrumentsissuedwiththepassageoftimeorchangesineconomicenvironmentresultintheneedtoreclassifytheissuedfinancialinstruments:theequityinstrumentsarereclassifiedasfinancialliabilitiesandaremeasuredatthefairvalueofsuchfinancialinstrumentsatthereclassificationdate,whilethedifferencebetweenthebookvalueofequityinstrumentandthefairvalueoffinancialliabilitiesatthereclassificationateisrecognizedasequities;financialliabilitiesarereclassifiedasequityinstrumentsandaremeasuredatthebookvalueoffinancialliabilitiesatthereclassificationdate.Thecompanyhadnomattersregardingpreferredsharesorperpetualbondsorotherwiseduringthereportingperiod.28.Revenue(1)GeneralprinciplesofrevenuerecognitionandmeasurementmethodRevenuereferstothetotalinflowsofeconomicbenefitsformedbythecompanyinitsday-to-dayactivitiesthatwouldresultinincreasesinshareholderequityandareunrelatedtocapitalinvestedbyshareholders.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd340Thecompanyrecognizesitsrevenuewhenhavingperformeditsperformanceobligationsincontract,i.e.,thecustomeracquiresthecontrolofrelatedgoodsorservices.Whereacontractcontainstwoormoreperformanceobligations,thecompanyallocatesthetransactionpricetoeachindividualperformanceobligationaccordingtotherelativeproportionsofseparatesellingpricesofgoodsorservicespromisedbyeachindividualperformanceobligationatthecontractcommencementdateandthenmeasurestherevenueatthetransactionpriceallocatedtoeachindividualperformanceobligation.Thetransactionpriceistheamountofconsiderationthatthecompanyexpectstohavetherighttochargeduetotransferofgoodsorservicestoitscustomers,excludingamountschargedonbehalfofthirdparties.Thetransactionpricesrecognizedbythecompanydonotexceedtheamountswithrespecttowhichtheaccumulatedrecognizedrevenueisextremelylikelynottobesignificantlyreversedatthetimeofeliminationofrelateduncertainties.Theamountsexpectedtobereturnedtocustomersaretreatedasliabilitiesforreturnofgoodsandarenotchargedtothetransactionprices.Whereacontractcontainsasignificantfinancingcomponent,thecompanydeterminesthetransactionpriceatthepayableamountthatthecustomerwouldpayincashshouldthecustomerhaveacquiredthecontrolofthegoodsorservice,withthedifferencebetweensuchtransactionpriceandthecontractconsiderationtobeamortizedusingtheeffectiveinterestratemethodduringthetermofthecontract.Whenmeetingoneofthefollowingconditions,aperformanceobligationisonethatshouldbeperformedwithinaparticularperiod,otherwiseitisaperformanceobligationthatshouldbeperformedataparticularpointintime.①Thecustomerhasacquiredandconsumedtheeconomicbenefitsbroughtaboutbyperformanceofthisgroupwhenthecompanyperformsthecontract;②Thecustomercancontrolthegoodsinprogressduringtheperformanceofthecompany③Thegoodsproducedduringtheperformanceofthecompanyhaveirreplaceablepurposesandthecompanyhastherighttochargeamountsfortheportionofperformancecompletedsofarincumulativetermswithintheentiretermofcontract.Foraperformanceobligationperformedwithinaparticularofperiodoftime,thecompanyrecognizesrevenueaccordingtotheperformanceprogresswithinsuchperiodoftime.Whentheperformanceprogressisuncertain,providedthatthecostsincurredareexpectedtobecompensated,therevenueisrecognizedattheamountofcostsalreadyincurreduntiltheperformanceprogresscanbereasonablydetermined.Foraperformanceobligationperformedataparticulartimeintime,thecompanyrecognizesrevenueatthepointintimewhenthecustomeracquiresthecontrolofrelatedgoodsorservices.Whenjudgingwhetheracustomerhasacquiredthecontrolofgoodsorservices,thecompanywouldconsiderthefollowingindications:①Thiscompanyhasthepresentrighttochargeamountswithrespecttosuchgoodsorservices;②Thecompanyhastransferredthephysicalobjectsofsuchgoodstothecustomer;③Thiscompanyhastransferredthelegaltitletosuchgoodsorthesubstantialriskandrewardonsuchlegaltitletothecustomer;④Thecustomerhasacceptedsuchgoodsorservices,etc.Thecompany’srighttochargeconsiderationforgoodsorservicestransferredtoitscustomers(providedthatsuchrightdependsuponfactorsotherthanelapseoftime)ispresentedascontractassets,forwhichimpairmentprovisionismadebasedonexpectedcreditloss.Theunconditional(onlydependentuponelapseoftime)rightthatthecompanyhastochargeitscustomerstheconsiderationispresentedasreceivables.Theobligationofthecompanytotransfergoodsorservicestoitscustomersforconsiderationreceivedorreceivablefromitscustomersispresentedascontractliabilities.Thecompanypresentscontractassetsandcontractliabilitiesunderoneandthesamecontractonanetbasisaftermutualoffsetthereof.(2)SpecificmethodsofthecompanyforrevenuerecognitionProductionandsaleoffeeds,livestockandpoultryandfoodsarethemainbusinessofthecompany.Wherethecompanyhasreceivedthepaymentforgoods(cashsaleoradvancesonsales)orexpectstorecoverthepaymentforgoods(creditsales)andFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd341deliveredthegoodstoacustomerinsuchmannerasspecifiedincontract,whichhavebeensignedoffbythecustomer,thecustomeracquiresthecontrolofrelatedgoodsandthecompanyrecognizestherevenueatthenetamountofthecontractamountreceivedorreceivablenetoftheestimatedsalesdiscounts.Thecreditperiodsgrantedbythecompanytoitscustomersareconsistentwiththeindustrypracticesandfreeofanysignificantfinancingcomponent.29.Governmentsubsidy(1)TypesofgovernmentsubsidyandjudgmentcriteriaGovernmentsubsidiesrefertothemonetaryandnon-momentaryassetsreceivedbythecompanyfromgovernmentwithoutcompensation,excludingcapitalinvestedbygovernmentasaninvestor.Governmentsubsidyconsistsofasset-relatedgovernmentsubsidyandincome-relatedgovernmentsubsidy.Thecompanydefinesthegovernmentsubsidiesacquiredbythecompanyandusedforacquisitionorotherwiseformationoflong-termassetsasasset-relatedothergovernmentsubsidiesaredefinedasincome-related.Whenmakingspecificclassificationjudgments,thecompanyfirstclassifiesgovernmentsubsidiesreceivedaccordingtothedocumentsofrelatedgovernmentdepartment,oraccordingtotheactualcontentsofthegovernmentsubsidiesthatthecompanyappliesforifthegovernmentsubsidydocumentsarenotspecific.(2)TimeofrecognitionofgovernmentsubsidyGenerally,revenuefromagovernmentsubsidyisrecognizedwhenthegovernmentsubsidyisactuallyreceivedandcanmeettheconditionsattachedtothegovernmentsubsidy;governmentsubsidiescalculatedaccordingtothefixedquotastandardsaremeasuredattheamountreceivable.(3)Accountingtreatmentmethodforgovernmentsubsidy①Agovernmentsubsidyismeasuredattheamountactuallyreceivedorreceivableifitisamonetaryasset;agovernmentsubsidythatisanon-monetaryassetismeasuredatfairvalue.Agovernmentsubsidyismeasuredatnominalvalue(1Yuan)ifitsfairvaluecannotbereliablyacquired.②Asset-relatedgovernmentsubsidiesarerecognizedasdeferredincomeandchargedtootherincomeinareasonableandsystematicmannerovertheservicelifeoftherelatedassetbyphases.However,governmentsubsidiesmeasuredatnominalamountaredirectlychargedtootherincome.③Income-relatedgovernmentsubsidiesaretreatedasfollows,asthecasemaybe:income-relatedgovernmentsubsidies,ifusedforcompensatingrelevantexpensesandlossesofthecompanyinfutureperiods,arerecognizedasdeferredincomeandarechargedtootherincomeintheperiodwhenrelevantcostsandexpensesorlossesarerecognized;ifusedforcompensatingtherelevantexpensesandlossesofthecompanyincurred,theyarechargeddirectlytootherincome.Thecompanychargestootherincomethegovernmentsubsidiesreceivedinconnectionwiththedailyactivitiesofthecompany,andchargestonon-businessrevenuethegovernmentsubsidiesunrelatedtodailyactivitiesofthecompany.④Ifarecognizedgovernmentsubsidyisrequiredtobereturnedandthereisrelateddeferredincome,thegovernmentsubsidyischargedagainstthebookbalanceoftherelateddeferredincomeandtheexcessportionischargedtootherincomeornon-businessrevenue;wherethereisnorelateddeferredincome,itisdirectlychargedtootherincomeornon-businessrevenue.⑤Thepolicy-relatedpreferentialsubsidizedloansacquiredbythecompanyaretreatedforaccountingpurposesbydistinguishingbetweenfiscalauthoritiesappropriatingtheproceedsofsubsidizedloanstothelendingbankandthefiscalauthoritiesappropriatingtheproceedsofsubsidizedloansdirectlytothecompany.Wherethefiscalauthoritiesappropriatetheproceedsofsubsidizedloanstothelendingbankforprovisionofloanstothecompanyatapolicy-relatedpreferentialinterestrate,thecompanyrecordstheloansattheloanamountactuallyreceivedandcalculatestherelatedborrowingcostsaccordingtotheloanprincipalandsuchpolicy-relatedpreferentialinterestrate.Wherethefiscalauthoritiesappropriatetheproceedsofsubsidizedloansdirectlytothecompany,thecompanychargesthecorrespondinginterestsubsidyagainsttherelatedborrowingcosts.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd34230.DeferredincometaxassetsanddifferedincometaxliabilitiesBasedonthedifferencebetweenthebookvalueandtaxbaseofassetsandliabilitiesandthedifferencebetweenthebookvalueandtaxbaseofanitemwhichhasnotbeenrecognizedasanassetandliabilitybutwhosetaxbasecanbedeterminedaccordingtotheapplicabletaxlaws,thedeferredincometaxassetsanddeferredincometaxliabilitiesarecalculatedandrecognizedusingbalancesheetdebtmethodandaccordingtothetaxrateapplicableduringexpectedrecoveryofsuchassetorrepaymentofsuchliability.(1)RecognitionofdeferredincometaxassetsTherelateddeferredincometaxassetsarerecognizedtothelimitofthetaxableincomethatishighlylikelytobereceivedbythecompanyinfutureperiodtodeductthedeductibletemporarydifference.Thedeferredincometaxassetsarenotrecognizedforthedeductibletemporarydifferencearisinginanyofthefollowingcases:①Therelateddeductibletemporarydifferenceresultsfromtheinvestmentsofthecompanyinitssubsidiaries,affiliatesandjointventuresandmeetsoneofthefollowingconditions:A.Thetemporarydifferenceishighlylikelynottobereversedinforeseeablefuture;B.Thetaxableincomeishighlylikelynottobeobtainedtodeductthedeductibletemporarydifferenceinthefuture.②Initialrecognitionofassetsorliabilitiesarisinginatransactionthatmeetsbothofthefollowingcharacteristics:A.Suchtransactionisnotbusinesscombination;B.Thetransactionneitheraffectstheaccountingprofitsnoraffectsthetaxableincome(ordeductibleloss)whenincurred.Atthebalancesheetdate,thecompanyreviewsthebookvalueofdeferredincometaxassets.Ifitishighlylikelynottoobtaintaxableincomesufficienttodeductthebenefitsofdeferredincometaxassetsinthefuture,thebookvalueofdeferredincometaxassetsiswrittendown.Theamountwrittendownisreversedwhensufficienttaxableincomeishighlylikelytobeobtained.Thedeductiblelossesandtaxcreditwhichcanbecarriedforwardinfutureyearsaretreatedasiftheyaredeductibletemporarydifference.Thecorrespondingdeferredincometaxassetsarerecognizedtotheextentoftheamountoffutureincometaxablewhichishighlylikelytobeobtainedtodeductthedeductiblelossesandtaxcredit.Thejudgmentsastowhetherthecompanycangeneratesufficienttaxableincomeinthefutureperiodsofreversalofthedeductibletemporarydifferencearebasedonthemostrecentfinancialbudgetorprojectiondataapprovedbythecompany’smanagementandthecompany’sfive-yearplan.(2)RecognitionofdeferredincometaxliabilitiesThecompanyrecognizesdeferredincomeliabilitiesresultingfromanyandalltaxabletemporarydifferencesexceptforthetaxabletemporarydifferencesarisinginthefollowingcases:①Initialrecognitionofgoodwill;②Initialrecognitionofassetsorliabilitiesarisinginatransactionthatmeetsbothofthefollowingcharacteristics:A.Suchtransactionisnotbusinesscombination;B.Thetransactionneitheraffectstheaccountingprofitsnoraffectsthetaxableincome(ordeductibleloss)whenincurred.③Therelatedtaxabletemporarydifferenceresultsfromtheinvestmentsofthecompanyinitssubsidiaries,affiliatesandjointventuresandmeetsbothofthefollowingconditions:A.Thecompanycancontrolthetimetoreversethetemporarydifference;B.Thetemporarydifferenceishighlylikelynottobereversedinforeseeablefuture;(3)IncometaxexpenseTheincometaxexpenseconsistsofcurrentincometaxanddeferredincometax.Allcurrentincometaxanddeferredincometaxexpenses(orincome)arechargedtothecurrentprofitandloss,exceptforthecurrentincometaxanddeferredincometaxrelatedtotransactionsandmattersrecognizedasothercomprehensiveincomeordirectlychargedtoshareholderequity,whicharechargedtoothercomprehensiveincomeorshareholderequity,aswellasthebookvalueofgoodwilladjustedbydeferredincometaxthatresultsfrombusinesscombination.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd34331.Lease(1)AccountingtreatmentmethodforoperatingleasesWherethecompanyactsasalessee,therentspaidarechargedtotherelatedassetcostsorcurrentprofitandlossusingthestraight-linemethodduringtheleaseperiod.Wherethecompanyactsasalessor,theleasedassetsarepresentedinthebalancesheetbythenatureofasset.Therentsreceivedarerecognizedascurrentprofitandlossusingthestraight-linemethodovertheleaseperiod,fixedassetsamongassetsunderoperatingleasearedepreciatedaccordingtothedepreciationpolicycustomarilyadoptedforthesimilardepreciableassets,andotherassetsunderoperatingleaseareamortizedusingreasonablemethods.(2)AccountingtreatmentmethodforfinancingleasesWherethecompanyactsasalessee,atthecommencementdateofleaseterm,thecompanytreatsthelesserofthefairvalueoftheleasedassetatthecommencementdateofleasetermandthepresentvalueoftheminimumleasepaymentastherecordedvalueofsuchassetandtreatstheminimumleasepaymentastherecordedvalueoflong-termpayable,withtheresultingdifferencetreatedasunrecognizedfinancingcosts.Inaddition,theinitialdirectcostsattributabletotheleaseditemthatareincurredduringtheleasenegotiationandexecutionoftheleasecontractarechargedtothevalueofleasedasset.Forunrecognizedfinancingcosts,thecurrentfinancingcostsarecalculatedandrecognizedusingtheeffectiveinterestratemethodovertheleaseterm.Contingentrentsarechargedtothecurrentprofitandlossasandwhenactuallyincurred.Whendepreciatingassetsunderoperatinglease,thedepreciationpolicyconsistentwiththeself-owneddepreciableassetsisadopted.Ifitcanbereasonablydeterminedthatthecompanywillacquiretheownershipoftheleasedassetupontheexpirationoftheleaseterm,thelifeoftheleasedassetasatthecommencementdateoftheleasetermistreatedasthedepreciationperiod;Ifitcannotbereasonablydeterminedthatthecompanywillacquiretheownershipoftheleasedassetupontheexpirationoftheleaseterm,thelesseroftheleasetermandthelifeoftheleasedassetistreatedasthedepreciationperiod.Wherethecompanyactsasalessor,atthecommencementdateoflease,thesumoftheminimumleasepaymentatthecommencementdateofleaseandtheinitialdirectcostsistreatedastherecordedvalueofthefinancingleasepaymentsreceivable,whilerecordingtheunsecuredresidualvalue;thedifferencebetweenthesumoftheminimumleasepayment,initialdirectcostsandunsecuredbalanceanditspresentvalueisrecognizedastheunrealizedfinancingincome.Fortheunrealizedfinancingincome,thecurrentfinancingincomeiscalculatedandrecognizedusingtheeffectiveinterestratemethodandovertheleaseterm.Contingentrentsarechargedtothecurrentprofitandlossasandwhenactuallyincurred.(3)Accountingtreatmentofsale-and-leasebackThecompanydeterminessale-and-leasebacktransactionasfinancingleaseoroperatingleaseaccordingtotheprovisionsofleasestandards.Wherethesale-and-leasebacktransactionisdeterminedasafinancinglease,thecompanyconsidersthesale-and-leasebacktransactionandsaleofassetasasingletransactionandwillnotrecognizetheprofitandlossonassetsaleascurrentprofitandloss,butinsteaddefersthemasfinancingcostsandallocatethemaccordingtothedepreciationprogressofsuchleasedassetastheadjustmenttothedepreciationcharge.Wherethesale-and-leasebacktransactionisdeterminedasanoperatinglease,itshouldberecognizedascurrentprofitandlossifthesellingpriceislowerthanthefairvalue;wherethesellingpriceishigherthanthefairvalue,theportioninexcessofthefairvalueisdeferredandamortizedovertheestimatedservicelifeoftheasset.Thedifferencebetweenthefairvalueandbookvalueofanassetundersale-and-leasebacktransactionisrecognizedasthecurrentprofitandloss.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd34432.OtherimportantaccountingpoliciesandaccountingestimatesHedgeaccounting(1)Typesofhedgingbusiness,hedgingrelationshipandjudgmentabouthedgingeffectivenessThecompany’shedgingbusinessisfairvaluehedgingandmanlyconsistsoffutureshedgingbusinessconductedonthedomesticagriculturalproductfuturesmarketsoutoftheconsiderationforavoidingtherisksofpricefluctuationassociatedwithpurchaseofrawmaterials(suchascorn,soybeanandsoybeanmeal,etc).Thecompanycontinuouslyevaluatesthehedgingeffectiveness,judgeswhethersuchfutureshedgingishighlyeffectiveduringtheaccountingperiodinwhichthehedgingrelationshipisdesignated,andcanonlyrecognizeandmeasurethehighlyeffectivefutureshedgingaccordingtothehedgeaccounting(thefutureshedgingthatisnotdeterminedashighlyeffectiveistreatedforaccountingpurposesaccordingto“Note5.(10)Financialinstruments—derivativeinstruments”.Thecompanydeterminesahedgeashighlyeffectiveifthehedgemeetsallofthefollowingconditions:①Atthecommencementofthehedgeandthereafter,suchhedgeisexpectedtohighlyeffectivelyoffsetthefairvaluechangesresultingfromthehedgedrisksduringtheperioddesignatedbythehedge;②Theactualoffsetresultofsuchhedgeiswithinarangeof80%to125%.(2)AccountingtreatmentmethodforhedgingForfairvaluehedging,thechangesinfairvalueofhedgingderivativesarechargedtothecurrentprofitandloss.Thechangesinthefairvalueofthehedgeditemduetothehedgingriskarechargedtothecurrentprofitandloss,whileadjustingthebookvalueofthehedgeditematthesametime;wherethehedgeditemisafirmcommitmentnotyetrecognized,theaccumulatedchangesinfairvalueofsuchfirmcommitmentduetothehedgedriskarerecognizedasanassetorliability,andtherelatedgainsorlossesarechargedtothecurrentprofitandloss.Note:indicateotherimportantaccountingpoliciesandaccountingestimates,includingbutnotlimitedtorecognitioncriteriaandaccountingtreatmentmethodforterminationofbusinessoperation,basisofhedgeaccountingandaccountingtreatmentmethodadopted,accountingtreatmentmethodrelatedtorepurchaseofsharesinthecompanyandaccountingtreatmentmethodforassetsecuritizationbusiness.33.Changestoimportantaccountingpoliciesandaccountingestimates(1)Changestoimportantaccountingpolicies√Applicable□NotapplicableContentsandcausesofchangestoaccountingpoliciesApprovalprocedureRemarks“EnterpriseAccountingStandard22—Revenue”Caikuai【2017】No.22UnifiedprovisionsoftheMinistryofFinanceThecompanyadoptedthe“EnterpriseAccountingStandard14—Revenue”issuedunderCaikuai【2017】No.22documentasofJanuary1,2020byadjustingthe1,347,222,574.40Yuan“prepayments”intheconsolidatedbalancesheettotheitemof“contractliabilities”.(2)Changestoimportantaccountingestimates□Applicable√NotapplicableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd345(3)Adjustmentstotherelateditemsofthefinancialstatementsatthebeginningoftheyearoffirstadoptionduetofirstadoptionofnewrevenuestandardandnewleasestandardasof2020ApplicableWhethertheitemsofbalancesheetatthebeginningoftheyearneedtobeadjustedornot√Yes□NoConsolidatedbalancesheetUnit:YuanItemDecember31,2019Wednesday,January01,2020AdjustmentCurrentassetsMonetaryfunds5,777,179,578.875,777,179,578.87SettlementreserveLoanstootherbanksHeld-for-tradingfinancialassets4,594,255.654,594,255.65(3)DerivativefinancialassetsNotesreceivable64,091,249.8064,091,249.80Accountsreceivable894,050,167.92894,050,167.92ReceivablesfinancingPrepayments644,252,622.96644,252,622.96InsurancepremiumsreceivableReinsuranceamountsreceivableProvisionofcessionreceivableOtherreceivables346,508,417.87346,508,417.87Wherein:interestreceivable52,735,123.4752,735,123.47DividendsreceivableFinancialassetspurchasedforresaleInventories9,307,812,126.899,307,812,126.89ContractassetsAssetsheldforsaleNoncurrentassetsduewithinayearOthercurrentassets140,064,259.62140,064,259.62Totalcurrentassets17,178,552,679.5817,178,552,679.58NoncurrentassetsLoansandadvancesmadeDebtinvestmentsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd346OtherdebtinvestmentsLong-termreceivablesLong-termequityinvestments21,121,784,349.1821,121,784,349.18Otherequityinstrumentinvestments318,276,827.48318,276,827.48OthernoncurrentfinancialassetsInvestmentproperties381,137.69381,137.69Fixedassets13,825,102,269.7813,825,102,269.78Worksinprogress4,745,959,274.864,745,959,274.86Productivebiologicalassets2,510,633,170.642,510,633,170.64Oil&gasassetsRight-of-useassetsIntangibleassets1,388,930,702.261,388,930,702.26DevelopmentexpenditureGoodwill1,234,756,072.931,234,756,072.93Long-termunamortizedexpenses406,320,291.51406,320,291.51Deferredincometaxassets277,744,391.09277,744,391.09Othernoncurrentassets1,209,225,716.551,209,225,716.55Totalnoncurrentassets47,039,114,203.9747,039,114,203.97Totalassets64,217,666,883.5564,217,666,883.55Currentliabilities:Short-termborrowings13,620,562,405.5613,620,562,405.56BorrowingsfromcentralbankLoansfromotherbanksHeld-for-tradingfinancialliabilities5,240,664.995,240,664.99DerivativefinancialliabilitiesNotespayable546,413,194.42546,413,194.42Accountspayable4,966,318,094.794,966,318,094.79Advancereceipts1,347,222,574.40-1,347,222,574.40Contractliabilities1,347,222,574.401,347,222,574.40FinancialassetssoldforrepurchaseDepositstakenandinterbankdepositsProceedsfromvicariouslytradedsecuritiesProceedsfromvicariouslyunderwrittensecuritiesFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd347Payrollpayable794,865,691.98794,865,691.98Taxespayable216,106,174.26216,106,174.26Otherpayables3,848,824,206.473,848,824,206.47Wherein:interestpayable45,768,415.2945,768,415.29Dividendspayable194,636,496.96194,636,496.96HandlingfeeandcommissionpayableCessioninsurancepremiumspayableLiabilitiesheldforsaleNoncurrentliabilitiesduewithinayear850,351,706.57850,351,706.57OthercurrentliabilitiesTotalcurrentliabilities26,195,904,713.4426,195,904,713.44NoncurrentliabilitiesProvisionforinsurancecontracts109,584,637.12109,584,637.12Long-termborrowings4,954,486,449.544,954,486,449.54BondspayableWherein:preferredsharesPerpetualbondsLeaseliabilitiesLong-termpayables6,000,000.006,000,000.00Long-termpayablepayrollEstimatedliabilitiesDeferredincome284,798,587.55284,798,587.55Deferredincometaxliabilities17,026,975.6517,026,975.65OthernoncurrentliabilitiesTotalnoncurrentliabilities5,371,896,649.865,371,896,649.86Totalliabilities31,567,801,363.3031,567,801,363.30Ownershipinterest:Sharecapital4,216,015,009.004,216,015,009.00OtherequityinstrumentsWherein:preferredsharesPerpetualbondsCapitalreserve2,507,590,540.722,507,590,540.72Minus:treasuryshares611,317,618.59611,317,618.59Othercomprehensiveincome-41,562,505.82-41,562,505.82Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd348SpecialreserveSurplusreserve2,400,778,310.952,400,778,310.95GenericriskreserveUndistributedprofits17,590,186,212.3017,590,186,212.30Totalownershipinterestattributabletotheparentcompany26,061,689,948.5626,061,689,948.56Minorityinterest6,588,175,571.696,588,175,571.69Totalownershipinterest32,649,865,520.2532,649,865,520.25Totalliabilitiesandownershipinterest64,217,666,883.5564,217,666,883.55RemarksonadjustmentsThecompanyadoptedthe“EnterpriseAccountingStandard14—Revenue”issuedunderCaikuai【2017】No.22documentasofJanuary1,2020,accordingtowhichthecompanyadjustedtheamountsofrelateditemsofitsfinancialstatementsatthebeginningof2020byadjustingthedatapresentedunderthe“prepayments”itemtothe“contractliabilities”itemafterfirstadoptingthecumulativeeffectsunderthenewrevenuestandard.ParentcompanybalancesheetUnit:YuanItemTuesday,December31,2019Wednesday,January01,2020AdjustmentCurrentassetsMonetaryfunds3,946,682,922.073,946,682,922.07Held-for-tradingfinancialassets(3)DerivativefinancialassetsNotesreceivable196,274,325.65196,274,325.65Accountsreceivable1,474,386.471,474,386.47ReceivablesfinancingPrepayments19,340,940.2219,340,940.22Otherreceivables23,621,677,381.8423,621,677,381.84Wherein:interestreceivable73,397,114.1173,397,114.11Dividendsreceivable465,500,000.00465,500,000.00Inventories27,991,352.1227,991,352.12ContractassetsAssetsheldforsaleNoncurrentassetsduewithinayearOthercurrentassets5,349,774.875,349,774.87Totalcurrentassets27,818,791,083.2427,818,791,083.24NoncurrentassetsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd349DebtinvestmentsOtherdebtinvestmentsLong-termreceivablesLong-termequityinvestments9,131,047,342.089,131,047,342.08Otherequityinstrumentinvestments211,196,000.00211,196,000.00OthernoncurrentfinancialassetsInvestmentpropertiesFixedassets26,018,579.2526,018,579.25WorksinprogressProductivebiologicalassetsOil&gasassetsRight-of-useassetsIntangibleassets20,778,129.9920,778,129.99DevelopmentexpenditureGoodwillLong-termunamortizedexpenses2,135,449.332,135,449.33Deferredincometaxassets767,190.67767,190.67Othernoncurrentassets501,293.33501,293.33Totalnoncurrentassets9,392,443,984.659,392,443,984.65Totalassets37,211,235,067.8937,211,235,067.89Currentliabilities:Short-termborrowings4,345,139,845.074,345,139,845.07Held-for-tradingfinancialliabilitiesDerivativefinancialliabilitiesNotespayable98,207,852.0998,207,852.09Accountspayable23,734,887.7423,734,887.74Advancereceipts22,226,964.74-22,226,964.74Contractliabilities22,226,964.7422,226,964.74Payrollpayable29,359,058.8029,359,058.80Taxespayable3,763,775.883,763,775.88Otherpayables17,749,453,705.1017,749,453,705.10Wherein:interestpayable25,397,692.8825,397,692.88DividendspayableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd350LiabilitiesheldforsaleNoncurrentliabilitiesduewithinayear587,050,000.00587,050,000.00OthercurrentliabilitiesTotalcurrentliabilities22,858,936,089.4222,858,936,089.42NoncurrentliabilitiesLong-termborrowings2,376,300,000.002,376,300,000.00BondspayableWherein:preferredsharesPerpetualbondsLeaseliabilitiesLong-termpayablesLong-termpayablepayrollEstimatedliabilitiesDeferredincome1,569,625.821,569,625.82DeferredincometaxliabilitiesOthernoncurrentliabilitiesTotalnoncurrentliabilities2,377,869,625.822,377,869,625.82Totalliabilities25,236,805,715.2425,236,805,715.24Ownershipinterest:Sharecapital4,216,015,009.004,216,015,009.00OtherequityinstrumentsWherein:preferredsharesPerpetualbondsCapitalreserve4,876,984,181.014,876,984,181.01Minus:treasuryshares611,317,618.59611,317,618.59OthercomprehensiveincomeSpecialreserveSurplusreserve979,184,653.16979,184,653.16Undistributedprofits2,513,563,128.072,513,563,128.07Totalownershipinterest11,974,429,352.6511,974,429,352.65Totalliabilitiesandownershipinterest37,211,235,067.8937,211,235,067.89RemarksonadjustmentsThecompanyadoptedthe“EnterpriseAccountingStandard14—Revenue”issuedunderCaikuai【2017】No.22documentasofJanuary1,2020,accordingtowhichthecompanyadjustedtheamountsofrelateditemsofitsfinancialstatementsatthebeginningofFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3512020byadjustingthedatapresentedunderthe“prepayments”itemtothe“contractliabilities”itemafterfirstadoptingthecumulativeeffectsunderthenewrevenuestandard.(4)Remarksonretrospectiveadjustmentstopriorcomparativesduetothefirstadoptionofnewrevenuestandardandnewleasestandardasof2020□Applicable√NotapplicableVI.Taxitems1.MaintaxcategoriesandtaxratesTaxcategoryBasisoftaxationTaxrateVATTaxablesales13%-3%UrbanmaintenanceandconstructiontaxTurnovertaxactuallypaid7%,5%,1%incometaxTaxableincome30%-5%RemarksondisclosurewheretherearedifferenttaxpayerssubjecttodifferententerpriseincometaxratesNameoftaxpayerIncometaxrate2.TaxpreferencesI.VAT(1)ThegeneralfeedproductsproducedandsoldbydomesticfeedmanufacturersofthecompanyweresubjecttoVATrateof13%priortoJuly1,2017;accordingtothe“NoticeonPoliciesrelatedtoSimplifyingandMergingValue-addedTaxRates”(Caishui〔2017〕No.37)issuedbytheMinistryofFinanceandtheStateAdministrationofTaxation,asofJuly1,2017,theVATrateof13%isrevokedandthetaxrateapplicabletoproductionandsaleoffeedproductsisadjustedto11%;accordingtothe“NoticeonAdjustingValue-addedTaxRate”(Caishui(2018)No.32)issuedbytheMinistryofFinanceandtheStateAdministrationofTaxation,asofMay1,2018,theVATrateischangedto10%;accordingtothe“PromulgationonPoliciesDeepeningtheVATReform”(PromulgationofMoF,SATandGAC2019No.39)oftheMinistryofFinance,theStateAdministrationofTaxationandGeneralAdministrationofCustoms,asofApril1,2019,thetaxrateapplicabletoproductionandsaleoffeedproductsisadjustedto9%.Inaddition,accordingtothe‘NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonIssuesregardingExemptionofValue-addedTaxonFeedProducts”(Caishui〔2001〕No.121,feedproductsproducedandsoldbyfeedmanufacturersthatmeetitsprovisionsareexemptedfromVAT.Taxablegoodssoldbyfeedmanufacturersotherthanfeedsaresubjecttoacollectionrateof3%or5%oraVATrateof9%or13%.(2)ThepreliminarilyprocessedproductsproducedbydomesticslaughteringandmeatpackingbusinessesofthecompanyweresubjecttoVATrateof13%priortoJuly1,2017;accordingtothe“NoticeonPoliciesrelatedtoSimplifyingandMergingValue-addedTaxRates”(Caishui〔2017〕No.37)issuedbytheMinistryofFinanceandtheStateAdministrationofTaxation,asofJuly1,2017,thetaxrateapplicabletoprimaryagriculturalproductsisadjustedto11%,andtheVATrateapplicabletodelisanddeepprocessedproductsis17%;accordingtothe“NoticeonAdjustingValue-addedTaxRate”(Caishui(2018)No.32)issuedbytheMinistryofFinanceandtheStateAdministrationofTaxation,asofMay1,2018,thetaxrateapplicabletopreliminarilyprocessedproductsisadjustedto10%andtheVATrateapplicabletodelisanddeepprocessedproductsis16%;accordingtothe“PromulgationonPoliciesDeepeningtheVATReform”(PromulgationofMoF,SATandGAC2019No.39)oftheMinistryofFinance,theStateAdministrationofTaxationandGeneralAdministrationofCustoms,asofApril1,2019,thetaxrateapplicabletopreliminarilyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd352processedproductsisadjustedto9%andtheVATrateapplicabletodelisanddeepprocessedproductsis13%.(3)ThedomesticbreedingbusinessesofthecompanyareexemptedfromVATaccordingtoArticle15‘Self-madeagriculturalproductssoldbyagriculturalproducersareexemptedfromVAT”ofthe“InterimRegulationsofthePeople’sRepublicofChinaonValue-addedTax”.(4)ThefeedproductsandfreshmeatandeggproductssoldbydomestictradebusinessesofthecompanyareexemptedfromVAT,whileotherproductsaresubjecttoaVATrateof17%or11%accordingtothenationalregulations;accordingtothe“NoticeonAdjustingValue-addedTaxRate”(Caishui(2018)No.32)issuedbytheMinistryofFinanceandtheStateAdministrationofTaxation,asofMay1,2018,thetaxrateapplicableis16%or10%;accordingtothe“PromulgationonPoliciesDeepeningtheVATReform”(PromulgationofMoF,SATandGAC2019No.39)oftheMinistryofFinance,theStateAdministrationofTaxationandGeneralAdministrationofCustoms,asofApril1,2019,thetaxrateapplicableisadjustedto13%or9%.(5)SubsidiariesSichuanXinlePlasticsCo.,Ltd,JiangsuTianchengHealthcareProductsCo.,Ltd,ZiboHuideFeedMachineryCo.,LtdandChengduFenglanTechnologyCo.,LtdaresubjecttoaVATrateof17%;accordingtothe“NoticeonAdjustingValue-addedTaxRate”(Caishui(2018)No.32)issuedbytheMinistryofFinanceandtheStateAdministrationofTaxation,asofMay1,2018,thetaxrateapplicableisadjustedto16%;accordingtothe“PromulgationonPoliciesDeepeningtheVATReform”(PromulgationofMoF,SATandGAC2019No.39)oftheMinistryofFinance,theStateAdministrationofTaxationandGeneralAdministrationofCustoms,asofApril1,2019,thetaxrateapplicableis13%.(6)Amongitsoverseassubsidiaries,thefeedproductssoldbyitssubsidiariesinVietnamandself-producedagriculturalproductssoldbyitsbreedingbusinessthereinareexemptedfromVAT,andtheVATrateapplicabletodisposalofobsoletematerialsandfixedassetsis10%;theVATrateapplicabletoitsSriLankacompaniesis8%;thegoodsandservicesoperatedandsoldlocallybyNewHopeSingaporePte.LtdandNewHopeSingaporePremixPte.LtdaresubjecttoaGST(VAT)rateof7%;feedproductssoldbyitssubsidiariesinIndonesia,Bangladesh,thePhilippines,CambodiaandareexemptedfromVAT.II.Urbanmaintenanceandconstructiontax,educationalsurchargeForthecompanyanditsdomesticsubsidiaries:(1)urbanconstructiontaxvariesfromregiontoregion,atarateof7%,5%or1%ofpayableturnovertaxrespectively;(2)educationalsurchargeisimposedatarateof3%ofthepayableturnovertaxamount,andlocaleducationalsurchargeat2%.III.Enterpriseincometax(1)Accordingtothe“NoticeonTaxPolicyIssuesregardingFurtherImplementationoftheGo-westStrategy”(Caishui〔2001〕No.58)jointlyissuedbytheMinistryofFinance,theStateAdministrationofTaxationandGeneralAdministrationofCustoms,andthe“PromulgationonEnterpriseIncomeTaxIssuesregardingFurtherImplementationoftheGo-westStrategy”oftheStateAdministrationofTaxation(SATPromulgation2012No.12),fromJanuary1,2011toDecember31,2020,enterprisesestablishedinwestChinathatoperateinencouragedindustriesaresubjecttoenterpriseincometaxatareducedrateof15%.AmongthebranchesandsubsidiariesofthecompanyestablishedinMianyangandXichanginwestChina,GuanghanGuoxiong,ZunyiJiahao,GuiyangXinke,QiandongnanNewHope,QujingGuoxiong,ChongqingGuoxiong,ZiyangJiahao,LuzhouNewHope,HopeFood,WuweiHope,HanzhongHope,ZigongHengbo,LanzhouNewHope,NanningGuoxiong,YulinNewHope,GuilinNewHope,PengshanNewHope,CenturyInvestment,WulongNewHope,FoodHoldings,KaixianNewHope,LhasaNewHope,ChongqingNewHope,SanyuanNewHope,BaojiNewHopeandNingxiaNewHopearesubjecttoanincometaxrateof15%withtheconsentoftaxauthorities.Allbranchesaggregateandsettletheirincometaxwiththetaxauthoritygoverningtheparentcompanyattheendofyearfollowingtheprinciplesofunifiedcalculation,level-by-levelmanagement,localprepaymentandaggregateclearing.(2)Accordingtothe“NoticeoftheMinistryofFinanceandStateAdministrationofTaxationonImplementationofGo-westTaxPoliciesbyGanzhouCity’(Caishui〔2013〕No.4),the“PromulgationofJiangxiProvincialBureauofLocalTaxationonIssueof(Trial)(2013No.5)andthe“NoticeofGanzhouCityBureauofLocalTaxationonConfirmationofEntitlementof29CompaniesincludingGanzhouHopeFeedCo.,LtdtoEnterpriseIncomeTaxPreferentialPoliciesforGo-westStrategy”(Ganshidishuihan[2013]No.100),GanzhouHopeiscoveredbytheenterpriseincometaxpreferentialpoliciesforgo-weststrategyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd353from2012to2020andisthereforesubjecttoenterpriseincometaxatareducedtaxrateof15%.(3)ThemeatfoodprocessingbusinessesofthecompanyareexemptedfromenterpriseincometaxwithrespecttotheirpreliminarymeatprocessingoperationsaccordingtoArticle27.1ofthe“EnterpriseIncomeTaxLawofthePeople’sRepublicofChina”,Article86ofthe“ImplementingRegulationsforEnterpriseIncomeTaxLawofthePeople’sRepublicofChina”andCaishui(2008)No.149document,andhaveacquiredfilings;thedeepprocessingbusinessissubjecttoincometaxrateof25%.(4)ThebreedingbusinessesofthecompanyareexemptedfromenterpriseincometaxwithrespecttotheirlivestockandpoultrybreedingoperationsaccordingtoArticle27.1ofthe“EnterpriseIncomeTaxLawofthePeople’sRepublicofChina”andArticle86ofthe“ImplementingRegulationsforEnterpriseIncomeTaxLawofthePeople’sRepublicofChina”,andhaveacquiredfilingsfortaxexemption;(5)ThesubsidiaryWeifangNewHopeLiuheFeedTechnologyCo.,Ltdwasdesignatedasahigh-techenterprise,andaccordingtoArticle28ofthe“EnterpriseIncomeTaxLawofthePeople’sRepublicof”,high-techenterprisesthatthestateneedstoparticularlysupportaresubjecttoenterpriseincometaxatareducedrateof15%.(6)HongKongDongxianCo.,LtdandHongKongLiuheInternationalTradeCo.,Ltd,bothregisteredinHongKong,aresubjecttoincometaxrateof16.5%.(7)NewHopeLiuheInvestmentCo.,Ltd,whichisregisteredin,issubjecttoapreferentialincometaxrateof15%forthepurposesoftheGo-weststrategy.(8)incometaxpoliciesforoverseassubsidiariesofthecompanya.NewHopeHanoiCo.,Ltdissubjecttoincometaxrateof10%withrespecttoitsmainbusinessin2020accordingtothelocaltaxpreferencepolicies,whileincomefromitsnon-mainbusinesses(includingnetrevenuefromobsoletematerials,netinterestrevenueandnetnon-businessreceiptsandexpenditures)isnotentitledtoincometaxpreferenceandissubjecttoincometaxrateof20%.b.NewHopeHanoiCo.,LtdHaiphongBranchissubjecttoincometaxrateof10%withrespectto52%oftaxableincomefromitsmainbusinessaccordingtothelocaltaxpreferencepolicies,whileincomefromitsnon-mainbusinesses(includingnetrevenuefromobsoletematerials,netinterestrevenueandnetnon-businessreceiptsandexpenditures)isnotentitledtoincometaxpreferenceandissubjecttothenormalincometaxrateof20%.NewHopeHanoiCo.,LtdBacGiangBranchwasexemptedfromincometaxin2015and2016andsubjecttoa10%taxratein2017-2020(currently,theenterpriseincometaxrateinis20%.c.NewHopeHanoiCo.,LtdThanhHoaBranchandNewHopeBinhDinhCo,,Ltdaresubjecttoanincometaxrateof20%in2020accordingtolocaltaxpolicies,ThanHoaNewHopeLivestockServicesCo.,Ltdissubjecttoa10%incometaxratein2020withrespecttoitsmainbusinessaccordingtolocaltaxpreferencepolicies,whileincomefromitsnon-mainbusinesses(includingnetrevenuefromobsoletematerials,netinterestrevenueandnetnon-businessreceiptsandexpenditures)isnotentitledtoincometaxpreferenceandissubjecttothenormalincometaxrateof20%.d.NewHopeHoChiMinhCityCo.,Ltdissubjecttoanincometaxrateof15%withrespecttoitsfirstphaseofprojectand20%withrespecttoitssecondphaseofprojectaccordingtolocaltaxpolicies,wasexemptedfromincometaxfrom2008onwards(from2008to2010)andwassubjecttoincometaxathalfofthestatutoryincometaxratefor5years(from2011to2015)beforebeingsubjecttoanincometaxrateof20%asof2016;itsthirdphaseofprojectissubjecttoanincometaxrateof20%,exemptedfromincometaxfor2years(from2015to2016),subjecttoincometaxathalfofthestatutoryincometaxratefor4years(from2017to202),or10%,beforebeingsubjecttoanincometaxrateof20%asof2021.Thecalculationmethodforthepayableincometaxfor2020isasfollows:payableincometax=taxableincomewithinthecurrentoperatingyearx27.01%percentageoffixedassetsinthefirstphaseofprojectxincometaxrate15%+taxableincomewithinthecurrentoperatingyearx42.78%percentageoffixedassetsinthesecondphaseofprojectxincometaxrate20%+taxableincomewithinthecurrentoperatingyearx30.21%percentageoffixedassetsinthethirdphaseofprojectxincometaxrate10%+(non-businessrevenue+interestincome)x20%.e.NewHopeDongThapProducingFeedForAquacultureCo.,Ltdissubjecttoincometaxrateof15%within12yearsofcommencementofitsoperations,followedby20%insubsequentyears,whileatthesametimeitisentitledtoapreferentialpolicyof“taxexemptionfor3yearsasoftheyearofprofitmakingandtaxcollectionathalfofthestatutorytaxratefor7years”.TheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd354aforesaidcompanywasunderpreparationforestablishmentin2008,startedmakingprofitsin2010andissubjecttoanincometaxrateof15%in2020.Theincomefromitsotherbusinesses(includingnetrevenuefromobsoletematerials,netinterestrevenueandnetnon-businessreceiptsandexpenditures)isentitledtotaxpreferencepoliciesandsubjecttoincometaxrateasspecifiedinthetaxpreferencepoliciesapplicabletoitsmainbusiness.Itssecondphaseofprojectissubjecttoanincometaxrateof20%,exemptedfromincometaxfor2yearsstartingfrom2018(from2018to2019)andsubjecttoa10%incometaxratefor4years(from2020to2023)andanincometaxrateof20%asof2024.f.NewHopeCentralLuzonAgricultureInc.andNewHopeTarlacAgricultureInc.aretaxedatthehigherof2%ofitsgrossprofitsor30%ofitsactualprofitsaccordingtothePhilippinetaxlaws.g.NewHopeBulacanAgricultureInc.wasexemptedfromincometaxfor4yearsasofthecommencementdateofitsbusinessoperationsaccordingtothelocaltaxpreferencepolicies,whichisJuly1,2013accordingthedateregisteredwithBureauofInternalRevenue(BIR),withthetaxholidayfromJuly2013toJune2017.Startingin2018,itistaxedatahigherof2%ofitsgrossprofitsor30%ofitsactualprofits.h.NewHopeIsabelaAgricultureInc.istaxedatthehigherof2%ofgrossprofitsor30%ofactualprofitsaccordingtothePhilippinetaxpolicies.Itissubjecttoincometaxat2%ofitsgrossprofitsin2020.i.NewHopeBangladeshLtd,NewHopeAgrotechBangladeshLtdandNewHopeFarmsBangladeshLtdaresubjecttoincometaxat35%ofrevenuewithrespecttothebankdepositinterestrevenuepartoftheirtotalprofits(10%withheldbybanks),incometaxat35%withrespecttonetnon-businessrevenueandexpenditureandincometaxbysegmentwithrespecttothetotalprofitsnetofinterestandnon-businessrevenueandexpenditures;NewHopeBangladeshLtdandNewHopeAgrotechBangladeshLtdaresubjecttoataxrateof3%withrespecttotheportionlessthan1millionTaka(inclusive);10%withrespecttotheportionof1millionTaka-2millionTaka(inclusive);and15%withrespecttotheportionlargerthan2millionTaka.ForNewHopeFarmsBangladeshLtd,thefirstoptionisasfollows:taxrateof0on1millionTaka(inclusive);taxrateof5%on1million-2millionTaka(inclusive);andtaxrateof10%onmorethan2millionTaka.Thesecondoption:0.6%ofallrevenue.Theactualtaxrateiswhicheverishigherbetweenthetwooptions.j.SichuanNewHopeAgriculture()Co.,Ltdwasexemptedfromincometaxfor6yearsstartingfromestablishmentofitsfactories(fromApril2010toApril2016)accordingtothelocaltaxpolicies,andobtainedanapprovalof3-yeartaxexemptionextensionin2016,whichwasvalidbeforeDecember2018.In2020,theenterpriseincometaxrateis20%.Whentheaforesaidcompanydistributesitsprofits,itisrequiredtopayprofitdistributiontaxat14%ofamountdistributed.k.NewHopeLanka(Pvt)Limitedissubjecttoanincometaxrateof24%accordingtothelocaltaxpoliciesandwasexemptedfromincometaxintheearlyperiodofcompanyconstructionandcommissioning.Thecalculationmethodfortaxexemptionperiodis2yearsofconstructionperiod,2yearsofcommissioningperiodand5yearsoftaxholiday,i.e.,theaforesaidcompanyisexemptedfromincometaxfor9yearssinceitsinception.NewHopeLanka(Pvt)LimitedwasincorporatedonNovember18,2010,anditscommissioningperiodcommencedfromApril12,2012,withthetaxholidayexpiringattheendof2019.Thebankdepositinterestrevenueinthiscompany’scurrentprofitsisoutsidethescopeofexemptionofincometax,andthebankinterestrevenueissubjecttoanincometaxrateof24%,ofwhich5%iswithheldbybanksandtheremainingpartispayablebythiscompany.l.MyanmarNewHopeFarmsCo.,Ltdissubjecttoanenterpriseincometaxrateof25%accordingtothetaxpoliciesofPeguProvinceofMyanmar.AccordingtotherelatedprovisionsofMyanmarNationalTaxationAdministrationandMyanmarInvestmentCommission,Burmesecompaniesareexemptedfromenterpriseincometaxfor5yearsstartingfromofficialproductionandsalesoperations,andthetaxholidayfortheBurmesesubsidiaryis(fromJuly1,2014toJune30,2019).Inthefirstsixmonthsof2019,theBurmesesubsidiarywasexemptedfromenterpriseincometaxanditstartedofficiallypayingenterpriseincometaxonJuly1,2019whenitwasnolongerentitledtothetaxreductionandexemptionpolicy;MyanmarNewHopeAgro-TechnologyCo.,Ltdissubjecttoanenterpriseincometaxrateof25%accordingtothetaxpoliciesofPeguProvinceofMyanmar.AccordingtotherelatedresolutionsofMyanmarNationalTaxationAdministrationandMyanmarInvestmentCommission,theaforesaidcompanyhasbeenexemptedfromenterpriseincometaxfor5yearsstartingwithitscommencementofofficialbusinessoperationsonNovember1,2018.TheaforesaidcompanywasofficiallyputintooperationinNovember2018anditstaxholidayis(fromNovember1,2018toFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd355October31,2023),withtheyear2020fallingwithintheperiodofincometaxexemption.XinheMyanmarAgro-technologyCo.,Ltdisacommercialandtradingcompany,whichofficiallystartedsalesoperationsinApril2019andissubjecttoanincometaxrateof25%,butisnotentitledtoenterpriseincometaxreductionandexemptionpolicies.m.NewHopeLaosCo.,Ltdissubjecttoanincometaxrateof5%andisexemptedfromincometaxfor5yearsstartingwithitsfirstyearofprofitmakingaccordingtothepoliciesofthemanagementcommitteeintheplaceofitsincorporation.Itwasunderpreparationforestablishmentin2013andwasofficiallyputintooperationinJuly2014,withitstaxholidayexpiringinDecember2020,pendingapplicationfortaxexemptionfor2021.n.NewHopeSingaporePte.Ltdissubjecttoanincometaxrateof5%withrespecttoitstraderevenueinvolvedinenterpriseincometax(DEI),anditspreferentialperiodis5years(2015/07/01-2020/06/30)+3years(2020/07/01-2023/06/30),withthefiveyearsasthefirstphase,wheretheEconomicDevelopmentBoard(EDB)reassessesthiscompany.Whereinterestandmanagementfeerevenueisinvolved,thecompanyissubjecttoanincometaxrateof8%(FTC),withapreferentialperiodof5years(2017/07/01-2022/06/30),andthecompanyisexemptedfromwithholdingtax(withholdingincometaxoninterest)inSingaporewhenpayinginterestexpensestooverseasbankinginstitutionsandaffiliates;theremainingrelatedincomeisnotentitledtotheaforesaidpreferences,andissubjecttoanincometaxrateof17%.Whencalculating,thefirst10,000Singaporedollarsoftaxableincomeare75%exemptedfromincometax,thesubsequent190,000Singaporedollarsthereofare50%exemptedfromincometaxandtheportioninexcessof200,000Singaporedollarsisnotentitledtotaxreductionorexemption.0.InternationalHoldings(Pte)Ltd,NewHopeAsiaInvestmentPte.Ltd,GlobalInvestmentPte.LtdandNewHopeSingaporePremixLtdaresubjecttoanenterpriseincometaxrateof17%.Whencalculating,thefirst10,000Singaporedollarsoftaxableincomeare75%exemptedfromincometax,thesubsequent190,000Singaporedollarsthereofare50%exemptedfromincometaxandtheportioninexcessof200,000Singaporedollarsisnotentitledtotaxreductionorexemption.p.NewHopeSouthAfricaLtdissubjecttoaVATrateof15%andanincometaxrateof28%accordingtothelocaltaxpoliciesin,wherethetaxauthoritiesspecifythattherecoverablelossesarenotsubjecttothespecifiednumberofyears.q.NewHopeEgyptLtdandNewHopeAgriculture()Ltdaresubjecttoanincometaxrateof22.5%in2020accordingthelocaltaxpolicies.NewHopeAlexanderLtdwasputintooperationinOctober2017andissubjecttoanincometaxrateof22.5%in2020accordingthelocaltaxpolicies.NewHopeEgyptAquaticTechnologyLtdwasputintooperationinApril2019andissubjecttoanincometaxrateof22.5%in2020accordingtothelocaltaxpolicies.NewHopeEgyptPoultryLtd’srevenuefromitsengagementinlivestockfarming,fishery,poultrybreedingandbeeproduction-relatedactivitiesisexemptedfromenterpriseincometaxfor10yearsofcommencementdateofitsproductionactivitiesaccordingtoEgyptian2005No.91Law.Thiscompanyisnowunderpreparationforestablishment,expectedtobeputintooperationbytheendof2020.r.NewHopeTurkeyFeedandFarmingFoodImport&ExportandIndustryLtdissubjecttoanincometaxrateof22%accordingtolocaltaxpolicies,wherebyitscurrent-yearprofitscoverlossesintheprevious5years.s.NewHopePolandLtdissubjecttoanincometaxrateof19%accordingtolocaltaxpolicies.t.NewHopeAgroBusinessNepalPvtLtdissubjecttoanincometaxrateof25%accordingtolocaltaxpolicies.u.NewHopeKolkataAnimalFeedPrivateLtdissubjecttoanincometaxrateof30%accordingtolocaltaxpolicies,aswellas7%or12%surcharges(additional7%surchargeonannualrevenueinexcessof10millionrupeesandlessthan100millionrupees,and12%surchargeonannualrevenueinexcessof100millionrupees).v.PTNewHopeIndonesia,PTNewHopeMedan,PTNewHopeFarmsIndonesiaandPTNewHopeJawaTimuraresubjecttoanincometaxrateof25%.w.NewHopeAgro-technologyNigeriaLtd:accordingtoNigeriantaxlaws,thelocalincometaxrateis30%,andlossesincurredbycompaniesengagedinagriculturaloperationsandtrademaycarryforwardtotheyearsaftertheloss-makingtaxyearswithoutlimitationsuntilthelossesarecoveredinfull.x.NewHopeVinhLongCo.,Ltdissubjectto“taxexemptionfor2yearsandhalvedtaxratefor4years”withrespectto20%ofitstaxableincomefrommainbusinessaccordingtolocaltaxpreferencepolicies,i.e.,taxfreefor2019-2020andhalvedtaxratefor2021-2024at10%,whileitsincomefromnon-mainbusiness(includingnetrevenuefromobsoletematerials,netinterestrevenueandFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd356netnon-businessrevenueandexpenditures)issubjecttodistributiontaxatthenormaltaxrateof20%.y.NewHopeBinhPhuocLivestockCo.,Ltdissubjectto“taxexemptionfor2yearsandhalvedtaxratefor4years”withrespectto20%ofitstaxableincomefrommainbusinessaccordingtothelocaltaxpreferencepolicies,i.e.,taxfreefor2018-2019andhalvedtaxratefor2020-2023at10%,whileitsincomefromnon-mainbusiness(includingnetrevenuefromobsoletematerials,netinterestrevenueandnetnon-businessrevenueandexpenditures)issubjecttodistributiontaxatthenormaltaxrateof20%.z.NewHopeBinhDinhLivestockCo.,Ltdissubjectto“taxexemptionfor2yearsandhalvedtaxratefor4years”withrespectto20%ofitstaxableincomefrommainbusinessaccordingtothelocaltaxpreferencepolicies,i.e.,taxfreeforDecember2017-November2020andhalvedtaxrateforDecember2020-November2023at10%,whileitsincomefromnon-mainbusiness(includingnetrevenuefromobsoletematerials,netinterestrevenueandnetnon-businessrevenueandexpenditures)issubjecttodistributiontaxatthenormaltaxrateof20%.3.OthersExceptfortheaforesaidcompanies,allmajority-ownedsubsidiariesofthecompanyaresubjecttoanincometaxrateof25%.VII.Notestoitemsofconsolidatedfinancialstatements1.MonetaryfundsUnit:YuanItemEndingbalanceBeginningbalanceCashonhand11,656,066.126,983,790.62Bankdeposits9,352,242,512.945,352,809,447.26Othermonetaryfunds772,403,706.88417,386,340.99Total10,136,302,285.945,777,179,578.87Wherein:totalamountdepositedabroad556,694,069.98449,011,193.65Totalamountrestrictedfromuseduetomortgage,pledgeorfreeze120,743,501.7284,847,337.96Otherremarks(1)Amongtheendingbalanceofothermonetaryfunds,thebalanceofvariousmarginswas120,743,501.72Yuan,whichisunreadilyavailableduetorestrictionsonuse,thereforeitispresentedinthemonetaryfundsinthebalancesheet,notascashandequivalentsinthecashflowstatement.(2)Therewerenomomentaryfundsdepositedabroadandtherepatriationofwhichisrestricted.2.Held-for-tradingfinancialassetsUnit:YuanItemEndingbalanceBeginningbalanceFinancialassetsatfairvaluethroughprofitorloss5,420,609.764,594,255.65Wherein;Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd357Derivativefinancialassets5,420,609.764,594,255.65Wherein:Total5,420,609.764,594,255.65Otherremarks:(1)Thederivativefinancialassetsintheheld-for-tradingfinancialassetsmainlyconsistofinterestrateswapsandfuturescontractspurchased.(2)Therewerenosignificantrestrictionsonsaleorrealizationofvariousfinancialassetsatfairvaluethroughprofitorlossattheendoftheperiod.3.Notesreceivable(1)NotesreceivablepresentedbycategoryUnit:YuanItemEndingbalanceBeginningbalanceBankacceptancebills3,200,000.0029,850,000.00Commercialacceptancebills12,449,000.0034,241,249.80Total15,649,000.0064,091,249.80Incaseofbaddebtprovisionfornotesreceivableaccruedbygeneralmodelofexpectedcreditloss,pleasediscloserelatedinformationaboutbaddebtprovisionbyreferencetothedisclosuremodeofotherreceivables.□Applicable√Notapplicable(2)NotesreceivablealreadyendorsedordiscountedbythecompanyattheendofperiodandnotyetexpiredatthebalancesheetdateUnit:YuanItemAmountderecognizedattheendofperiodAmountnotderecognizedattheendofperiodBankacceptancebills852,071,614.65Commercialacceptancebills4,887,530,100.96Letterofcredit118,980,083.80Negotiablecreditcertificateofaccountsreceivable27,599,404.62Total5,886,181,204.034.Accountsreceivable(1)AccountsreceivabledisclosedbycategoryUnit:YuanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd358CategoryEndingbalanceBookbalanceBaddebtprovisionBookvalueAmountProportionAmountProportionaccruedAccountsreceivableforwhichbaddebtprovisionisaccruedbyindividualitem56,923,611.824.19%35,697,036.9162.71%21,226,574.91Wherein:Accountsreceivableforwhichbaddebtprovisionisaccruedbycombination1,300,463,327.5695.81%239,961,206.8218.45%1,060,502,120.74Wherein:Total1,357,386,939.38100.00%275,658,243.7320.31%1,081,728,695.65CategoryBeginningbalanceBookbalanceBaddebtprovisionBookvalueAmountProportionAmountProportionaccruedAccountsreceivableforwhichbaddebtprovisionisaccruedbyindividualitem27,911,372.402.43%16,785,724.0160.14%11,125,648.39Wherein:Accountsreceivableforwhichbaddebtprovisionisaccruedbycombination1,120,700,688.9797.57%237,776,169.4421.22%882,924,519.53Wherein:Total1,148,612,061.37100.00%254,561,893.4522.16%894,050,167.92Baddebtprovisionaccruedbyindividualitem:accountsreceivableforwhichbaddebtprovisionisaccruedbeyondthecompanypolicyUnit:YuanNameEndingbalanceBookbalanceBaddebtprovisionProportionaccruedReasonsforaccrualKAYTANPIOFARM,INC.7,328,507.791,626,497.7522.19%ByrecoverableamountlowerthanbookvalueMASAYASWINEFARMCORP.4,408,269.381,278,987.6729.01%ByrecoverableamountlowerthanbookvalueZengKeming4,189,777.004,189,777.00100.00%ByrecoverableamountlowerthanbookvaluePTJANUPUTRABAROKAL3,341,607.64812,278.2724.31%ByrecoverableamountlowerFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd359thanbookvalueDRH.BAGUSSETIABUDI3,052,852.412,639,719.6486.47%ByrecoverableamountlowerthanbookvalueQJJFARM,INC.2,758,686.97406,906.3314.75%ByrecoverableamountlowerthanbookvalueDRH.H.BAGUSSETIABUDI2,560,426.302,355,157.8291.98%ByrecoverableamountlowerthanbookvalueCVUNGGASMAKMURINDONESIAPERKASO2,320,904.091,922,869.0482.85%ByrecoverableamountlowerthanbookvalueWIDARTI2,193,540.402,193,540.40100.00%ByrecoverableamountlowerthanbookvalueKARYAABADIFARM2,177,505.192,177,505.19100.00%ByrecoverableamountlowerthanbookvalueCV.MITRATAMAMUTIARAABADI2,121,906.992,121,906.99100.00%ByrecoverableamountlowerthanbookvalueSCRSVETERINARYTRADING1,933,554.73337,996.0417.48%ByrecoverableamountlowerthanbookvalueAGUNGWAHYONO1,894,216.921,894,216.92100.00%ByrecoverableamountlowerthanbookvaluePTLANTANSAUNGGASINDONESIA1,471,747.361,076,251.8173.13%ByrecoverableamountlowerthanbookvalueJ.P.PoultryProducts1,360,571.5470,524.505.18%ByrecoverableamountlowerthanbookvalueDELMOCHICKENANDAGRO(PVT)LTD1,250,607.71208,285.3816.65%ByrecoverableamountlowerthanbookvalueCaoHuijie1,249,999.051,249,999.05100.00%ByrecoverableamountlowerthanbookvaluePASCUA,LEEHUALU860,750.45860,750.45100.00%ByrecoverableamountlowerthanbookvalueSUMARNO847,402.46847,402.46100.00%ByrecoverableamountlowerthanbookvalueNEOFOODS(PVT)LTD840,037.2525,203.213.00%ByrecoverableamountlowerthanbookvaluePTMITRAAMANSEJAHTERA766,665.48766,665.48100.00%ByrecoverableamountlowerthanbookvalueNSLNEAGRI-POULTRYSUPPLY710,079.98222,894.1031.39%ByrecoverableamountlowerthanbookvalueLuKuikui686,900.00686,900.00100.00%ByrecoverableamountlowerFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd360thanbookvalueOWATANMORANO676,843.6756,508.208.35%ByrecoverableamountlowerthanbookvalueKARYAMANDIRIPERUNGGASAN658,765.97658,765.97100.00%ByrecoverableamountlowerthanbookvalueTANJUNGMULYAPUTRA641,218.32641,218.32100.00%ByrecoverableamountlowerthanbookvalueTongYingwu634,500.00634,500.00100.00%ByrecoverableamountlowerthanbookvalueWangChao625,500.00625,500.00100.00%ByrecoverableamountlowerthanbookvaluePTJANUPUTRASEJAHTERA335,135.40129,241.7538.56%ByrecoverableamountlowerthanbookvalueHuangDongxing283,035.00283,035.00100.00%ByrecoverableamountlowerthanbookvalueChenJianhua280,936.00280,936.00100.00%ByrecoverableamountlowerthanbookvalueGuoJianlin280,725.00280,725.00100.00%ByrecoverableamountlowerthanbookvalueZouLongyou275,127.00275,127.00100.00%ByrecoverableamountlowerthanbookvalueChenMusheng253,072.00253,072.00100.00%ByrecoverableamountlowerthanbookvalueKangHongmin207,307.00207,307.00100.00%ByrecoverableamountlowerthanbookvalueLiuBeng188,282.00188,282.00100.00%ByrecoverableamountlowerthanbookvalueWangTeng179,800.00179,800.00100.00%ByrecoverableamountlowerthanbookvalueLuzhouXinyaoAgricultureCo.,Ltd143,657.56143,657.56100.00%ByrecoverableamountlowerthanbookvalueWangXianhuai118,046.00118,046.00100.00%ByrecoverableamountlowerthanbookvalueHuangHanping94,338.0094,338.00100.00%ByrecoverableamountlowerthanbookvalueXiaoChengpu90,803.0090,803.00100.00%ByrecoverableamountlowerthanbookvaluePT.BAROKAHRESTUUTAMA71,265.7071,265.70100.00%ByrecoverableamountlowerFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd361thanbookvalueYuanShangqu63,679.0063,679.00100.00%ByrecoverableamountlowerthanbookvalueXiaoRenyou62,577.0062,577.00100.00%ByrecoverableamountlowerthanbookvalueLiuTianbo55,656.0055,656.00100.00%ByrecoverableamountlowerthanbookvalueZhongDongshan50,000.0050,000.00100.00%ByrecoverableamountlowerthanbookvalueHejiangZeng’sBreedingCo.Ltd50,000.0025,655.0051.31%ByrecoverableamountlowerthanbookvalueDengXiaolin49,999.5149,999.51100.00%ByrecoverableamountlowerthanbookvalueWangYong40,301.0040,301.00100.00%ByrecoverableamountlowerthanbookvalueYaoHongfu39,610.6039,610.60100.00%ByrecoverableamountlowerthanbookvalueLiuGuangfu30,034.0030,034.00100.00%ByrecoverableamountlowerthanbookvalueAnhuiHuayuanPoultryGroup27,149.005,429.8020.00%ByrecoverableamountlowerthanbookvalueWuXiaonian21,966.0021,966.00100.00%ByrecoverableamountlowerthanbookvalueYangTangwen20,486.0020,486.00100.00%ByrecoverableamountlowerthanbookvalueShiZhongyi15,380.0015,380.00100.00%ByrecoverableamountlowerthanbookvalueLiChuanrong12,767.0012,767.00100.00%ByrecoverableamountlowerthanbookvalueGuoLiming10,432.0010,432.00100.00%ByrecoverableamountlowerthanbookvalueWangXiong8,700.008,700.00100.00%ByrecoverableamountlowerthanbookvalueTotal56,923,611.8235,697,036.91--Baddebtprovisionaccruedbycombination:overseasaccountsreceivableforwhichbaddebtprovisionisaccruedbycombinationUnit:YuanNameEndingbalanceBookbalanceBaddebtprovisionProportionaccruedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd362Riskfree38,502,034.260.00%Lowrisk334,990,492.059,212,240.472.75%Mediumrisk86,303,022.2316,734,156.0319.39%Highrisk78,795,180.9278,795,180.92100.00%Total538,590,729.46104,741,577.42--RemarksonbasisfordeterminationofthiscombinationForaccountsreceivableclassifiedasriskcombination,thecompanypreparesthetableofcomparisonbetweenagesofaccountsreceivableandexpectedcreditlossrateduringtheentireexistenceandcalculatestheexpectedcreditlossbyreferencetothehistoricalcreditlossexperienceandinlightofthecurrentsituationandforecastfutureeconomicsituation.A.AccountsreceivableofoverseascompaniesNo.RiskanalysisExpectedcreditlossrateA-1Riskfree0.00%A-2Lowrisk2.75%A-3Mediumrisk19.39%A-4Highrisk100.00%Baddebtprovisionaccruedbycombination:domesticaccountsreceivableforwhichbaddebtprovisionisaccruedbycombinationUnit:YuanNameEndingbalanceBookbalanceBaddebtprovisionProportionaccruedLowrisk543,988,723.947,126,254.651.31%Lowerrisk96,321,067.886,530,568.476.78%Highrisk121,562,806.28121,562,806.28100.00%Total761,872,598.10135,219,629.40--RemarksonbasisfordeterminationofthiscombinationForaccountsreceivableclassifiedasriskcombination,thecompanypreparesthetableofcomparisonbetweenagesofaccountsreceivableandexpectedcreditlossrateduringtheentireexistenceandcalculatestheexpectedcreditlossbyreferencetothehistoricalcreditlossexperienceandinlightofthecurrentsituationandforecastfutureeconomicsituation.B.AccountsreceivableofdomesticcompaniesNumberRiskanalysisExpectedcreditlossrateB-1Lowrisk1.31%B-2Lowerrisk6.78%B-3Highrisk100.00%Incaseofbaddebtprovisionforaccountsreceivableaccruedbygeneralmodelofexpectedcreditloss,pleasediscloserelatedinformationaboutbaddebtprovisionbyreferencetothedisclosuremodeofotherreceivables.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd363□Applicable√NotapplicableDisclosurebyageUnit:YuanAgeEndingbalanceLessthan1year(inclusive)1,195,205,057.82Wherein:lessthan6months1,044,457,823.747-12months150,747,234.081-2years50,425,716.672-3years21,766,459.06Morethan3years89,989,705.833-4years30,066,398.794-5years14,622,615.55Morethan5years45,300,691.49Total1,357,386,939.38(2)Baddebtprovisionaccrued,recoveredorreversedinthecurrentperiodBaddebtprovisionaccruedinthecurrentperiodUnit:YuanCategoryBeginningbalanceCurrentchangeEndingbalanceAccruedRecoveredorreversedChargedoffOthersBaddebtprovisionforaccountreceivables254,561,893.4553,720,249.2930,273,878.342,350,020.67275,658,243.73Total254,561,893.4553,720,249.2930,273,878.342,350,020.67275,658,243.73Othercurrentchangesinbaddebtprovision(1)thebaddebtprovisionwasdecreasedby3,336,341.00Yuanduetochangesinsubsidiaries;(2)thebaddebtprovisionwasincreasedby986,320.33Yuanduetochangesinexchangerate;(3)Thecompanyhadnoaccountsreceivableforwhichthebaddebtprovisionwasfullyaccruedorinlargeproportionsbeforethecurrentperiodbutwhichwererecoveredorreversedinfullorinlargeproportionsandwhoseamountswereimportantinthecurrentperiod.(3)AccountsreceivableactuallychargedoffinthecurrentperiodUnit:YuanItemAmountchargedoffAccountsreceivableactuallychargedoff30,273,878.34Ofthem,importantcharge-offofaccountsreceivableFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd364Unit:YuanNameofentityNatureofaccountsreceivableAmountchargedoffCausesofcharge-offCharge-offprocedureperformedWhethertheamountswereincurredbyrelated-partytransactionHainanWenchangYongfengAquaticProductsCo.,LtdPaymentsforgoods13,314,432.19Longtimeoverdue,recognizedasdifficulttorecoverNoteNoTianjinCarrefourCommerceCo.,LtdPaymentsforgoods2,123,654.99Longtimeoverdue,recognizedasdifficulttorecoverNoteNoMA.TERESADIZONPaymentsforgoods1,002,936.06Longtimeoverdue,recognizedasdifficulttorecoverNoteNoLUCILACONSTANTINOPaymentsforgoods976,235.35Longtimeoverdue,recognizedasdifficulttorecoverNoteNoNanmaoWantouOrganicPigBreedingFarmofState-runJinjiangFarm,HainanProvincePaymentsforgoods686,393.76Longtimeoverdue,recognizedasdifficulttorecoverNoteNoJilinJiujiangchaoGroupCo.,LtdPaymentsforgoods640,398.80Longtimeoverdue,recognizedasdifficulttorecoverNoteNoZhouShengPaymentsforgoods625,441.50Longtimeoverdue,recognizedasdifficulttorecoverNoteNoMaHongjunPaymentsforgoods621,259.85Longtimeoverdue,recognizedasdifficulttorecoverNoteNoJilinZhuoyueIndustrialCo.,LtdPaymentsforgoods600,000.00Longtimeoverdue,recognizedasdifficulttorecoverNoteNoPT.SENAALAMANUGRAHPaymentsforgoods511,102.58Longtimeoverdue,recognizedasdifficulttorecoverNoteNoPRIMAFARMDANNYPSGROUPPaymentsforgoods505,739.56Longtimeoverdue,recognizedasdifficulttorecoverNoteNoChengduPingheShopPayments358,477.35Longtimeoverdue,NoteNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd365forgoodsrecognizedasdifficulttorecoverD-REYESFARMPaymentsforgoods356,927.43Longtimeoverdue,recognizedasdifficulttorecoverNoteNoPUJAPSPaymentsforgoods352,238.87Longtimeoverdue,recognizedasdifficulttorecoverNoteNoZhangjiakouJiajiaFoodsCo.,LtdPaymentsforgoods350,000.00Longtimeoverdue,recognizedasdifficulttorecoverNoteNoCV.ANSELLJAYAPaymentsforgoods348,623.10Longtimeoverdue,recognizedasdifficulttorecoverNoteNoWILSONBIENPaymentsforgoods330,566.03Longtimeoverdue,recognizedasdifficulttorecoverNoteNoJAYSONGMAGATPaymentsforgoods326,821.22Longtimeoverdue,recognizedasdifficulttorecoverNoteNoMANUELPADRIGOPaymentsforgoods324,947.78Longtimeoverdue,recognizedasdifficulttorecoverNoteNoALLANCORNEJOPaymentsforgoods258,119.73Longtimeoverdue,recognizedasdifficulttorecoverNoteNoHainanTalingTourismDevelopmentCo.,LtdPaymentsforgoods216,000.00Longtimeoverdue,recognizedasdifficulttorecoverNoteNoGANDAMEKARPSPaymentsforgoods202,399.03Longtimeoverdue,recognizedasdifficulttorecoverNoteNoOthersPaymentsforgoods5,241,163.16Longtimeoverdue,recognizedasdifficulttorecoverNoteNoTotal--30,273,878.34------RemarksonaccountsreceivablechargedoffNote:forreceivablesthatareindeedunrecoverable,individualcharged-offamountof<0.5millionYuanissubmittedtotheCFO,vicepresidentandpresidentofjoint-stockcompanyforapprovalafterbeingapprovedbythetier-2businessunit;individualcharged-offamountof≥0.5millionYuanissubjecttothechairmanforapproval.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd366(4)Top5accountsreceivableintermsofendingbalancepooledbydebtorUnit:YuanNameofentityEndingbalanceofaccountsreceivablePercentageoftotalendingbalanceofaccountsreceivableEndingbalanceofbaddebtprovisionShandongRongdaAgriculturalDevelopmentCo.,Ltd42,927,358.343.16%957,944.38LiuXuexiang37,923,199.062.79%2,571,192.90NanjingHedaFoodCo.,Ltd26,309,974.181.94%26,309,974.18BeijingJiaxinHengtaiTradeCo.,Ltd25,183,183.651.86%25,183,183.65GuangdongHopeNo.1EquityInvestmentPartnership(LP)15,225,000.001.12%622,005.00Total147,568,715.2310.87%Thecompanyshallcomplywiththedisclosurerequirementssetforthin“ShenzhenStockExchange’sIndustryInformationDisclosureGuidanceNo.1---ListedCompaniesEngagedinLivestock,PoultryandAquacultureBusinesses”.(5)AccountsreceivablederecognizedduetotransferoffinancialassetsNoaccountsreceivablederecognizedduetotransferoffinancialassetswereincurredduringthisperiod.(6)AmountofassetsandliabilitiesresultingfromtransferofaccountsreceivableandcontinuedinvolvementNoassetsandliabilitiesresultingfromtransferofaccountsreceivableandcontinuedinvolvementwereincurredduringthisperiod.Otherremarks:5.Prepayments(1)PrepaymentspresentedbyageUnit:YuanAgeEndingbalanceBeginningbalanceAmountProportionAmountProportionWithin1year1,411,740,188.4999.75%636,185,355.3798.75%1-2years3,496,627.320.25%6,076,375.210.94%2-3years1,425,870.990.22%Morethan3years565,021.390.09%Total1,415,236,815.81--644,252,622.96--Remarksoncausesofhigh-valueprepaymentsagedoveroneyearandnotyetsettledintime:Therewerenoimportantprepaymentsagedover1yearattheendofperiod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd367(2)TopfiveprepaymentsintermsofendingbalancepooledbythesubjectofprepaymentsTheaggregateamountoftopfiveprepaymentsintermsofendingbalancepooledbysubjectsofprepaymentswas351,810,252.99Yuan,accountingfor24.86%ofthetotalendingbalanceofprepayments.Otherremarks:None6.OtherreceivablesUnit:YuanItemEndingbalanceBeginningbalanceInterestreceivable26,753,875.3052,735,123.47Dividendsreceivable676,481,123.94Otherreceivables289,071,696.58293,773,294.40Total992,306,695.82346,508,417.87(1)Interestreceivable1)InterestreceivablebycategoryUnit:YuanItemEndingbalanceBeginningbalanceFixeddeposits26,753,875.3052,735,123.47Total26,753,875.3052,735,123.47Therewasnointerestoverdueandunrecoveredamongtheendingbalanceofinterestreceivable.3)Baddebtprovisionaccrued□Applicable√Notapplicable(2)Dividendsreceivable1)DividendsreceivablebycategoryUnit:YuanProject(orinvestee)EndingbalanceBeginningbalanceChinaMinshengBankingCorp.676,481,123.94Total676,481,123.94Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3682)Baddebtprovisionaccrued□Applicable√NotapplicableOtherremarks:(3)Otherreceivables1)OtherreceivablescategorizedbynatureofamountUnit:YuanNatureofamountEndingbookbalanceBeginningbookbalancePettycash21,084,221.6312,681,464.94Margin36,072,568.6747,887,657.12Deposit41,186,217.7920,566,767.04Temporaryborrowings228,681,405.87195,667,332.90Advances164,352,283.51190,452,236.99Others13,450,944.5447,560,410.91Total504,827,642.01514,815,869.902)BaddebtprovisionaccruedUnit:YuanBaddebtprovisionPhase1Phase2Phase3TotalExpectedcreditlossinthenext12monthsExpectedcreditlossduringentireexistence(withoutcreditimpairment)Expectedcreditlossduringentireexistence(withcreditimpairment)BalanceasofJanuary1,202053,075,279.44167,967,296.06221,042,575.50BalanceasofJanuary1,2020inthecurrentperiod---------------------transferredtophase3-430,498.38430,498.380.00Reversedinthecurrentperiod6,419,576.366,419,576.36Chargedoffinthecurrentperiod9,193,254.969,193,254.96Otherchanges72,061.5310,254,139.7210,326,201.25BalanceasofTuesday,June30,202046,297,266.23169,458,679.20215,755,945.43Changesinbookbalancewithrespecttowhichcurrentchangesinthelossprovisionaresignificant□Applicable√NotapplicableDisclosurebyageUnit:YuanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd369AgeEndingbalanceLessthan1year(inclusive)194,149,224.801-2years96,491,189.562-3years86,290,974.55Morethan3years127,896,253.103-4years40,002,985.204-5years34,426,363.96Morethan5years53,466,903.94Total504,827,642.013)Baddebtprovisionaccrued,recoveredorreversedinthecurrentperiodBaddebtprovisionaccruedinthecurrentperiodUnit:YuanCategoryBeginningbalanceCurrentchangeEndingbalanceAccruedRecoveredorreversedChargedoffOthersBaddebtprovisionforotherreceivables221,042,575.506,419,576.369,193,254.96-10,326,201.25215,755,945.43Total221,042,575.506,419,576.369,193,254.96-10,326,201.25215,755,945.43Thebaddebtprovisionreversedinthecurrentperiodwas6,419,576.36Yuan:Thebaddebtprovisionwasdecreasedby1,212,00Yuanduetochangesinsubsidiaries:Thebaddebtprovisionwasincreasedby73,273.53Yuanduetochangesinexchangerate:Wherein:otherreceivablesforwhichthebaddebtprovisionwasfullyaccruedorinlargeproportionsbythecompanybeforethecurrentperiodbutwhichwererecoveredorreversedinfullorinlargeproportionsandwhoseamountswereimportantinthecurrentperiodwere10,254,139.72Yuan.4)OtherreceivablesactuallychargedoffinthecurrentperiodUnit:YuanItemAmountchargedoffOtherreceivablesactuallychargedoff9,193,254.96Ofthem,importantotherreceivableschargedoff:Unit:YuanNameofentityNatureofotherreceivablesAmountchargedoffCausesofcharge-offCharge-offprocedureperformedWhethertheamountswereincurredbyrelated-partytransactionFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd370ShouguangYinongLivestockandPoultryBreedingSpecializedCooperativesCurrentaccount3,819,603.22Longtimeoverdue,recognizedasdifficulttorecoverNoteNoYangHuajunCurrentaccount1,240,217.69Longtimeoverdue,recognizedasdifficulttorecoverNoteNoYuLongchengCurrentaccount722,067.46Longtimeoverdue,recognizedasdifficulttorecoverNoteNoZhanjiangLuyueGrains&OilsCo.,LtdCurrentaccount466,232.32Longtimeoverdue,recognizedasdifficulttorecoverNoteNoBeijingShunyiGasCo.,LtdCurrentaccount419,416.90Longtimeoverdue,recognizedasdifficulttorecoverNoteNoGovernmentofKuanchengManchuAutonomousCountyCurrentaccount353,786.90Longtimeoverdue,recognizedasdifficulttorecoverNoteNoZhechengCountyAnimalHealthSupervisionOfficeCurrentaccount321,922.00Longtimeoverdue,recognizedasdifficulttorecoverNoteNoRambiCurrentaccount252,595.09Longtimeoverdue,recognizedasdifficulttorecoverNoteNoOthersCurrentaccount1,597,413.38Longtimeoverdue,recognizedasdifficulttorecoverNoteNoTotal--9,193,254.96------Remarksonotherreceivableschargedoff:Forreceivablesthatareindeedunrecoverable,individualcharged-offamountof<0.5millionYuanissubmittedtotheCFO,vicepresidentandpresidentofjoint-stockcompanyforapprovalafterbeingapprovedbythetier-2businessunit;individualcharged-offamountof≥0.5millionYuanissubjecttothepresidentforapproval.5)Top5otherreceivablesintermsofendingbalancepooledbydebtorUnit:YuanNameofentityNatureofamountEndingbalanceAgePercentageoftotalendingbalanceofotherreceivablesEndingbalanceofbaddebtprovisionGuangzhouGuwangFeedCo.,LtdCurrentaccount29,200,000.00Within1year5.78%1,474,600.00QingdaoLiuqingLivestockandPoultryBreedingSpecializedCooperativesCurrentaccount25,628,000.00Within1year,2-3yearsandover3years5.08%25,628,000.00WuxiangLvnongFarmingTechnologyCo.,LtdBreedingBranchCurrentaccount21,503,113.13Within1year,1-2yearsandover3years4.26%21,503,113.13Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd371ChangziXiangrongBreedingSpecializedCooperativesCurrentaccount14,104,506.96Within1year,1-2yearsandover3years2.79%14,104,506.96KaipingChunhaoSwineBreedingCo.,LtdCurrentaccount6,800,000.00Within1year1.35%343,400.00Total--97,235,620.09--19.26%63,053,620.096)ReceivablesinvolvinggovernmentsubsidyThecompanyhadnootherreceivablesinvolvinggovernmentsubsidy.7)OtherreceivablesderecognizedduetotransferoffinancialassetsThecompanydidnotincurotherreceivablesderecognizedduetotransferoffinancialassetsduringthisperiod.8)AmountofassetsandliabilitiesresultingfromtransferofotherreceivableandcontinuedinvolvementTherewerenoassetsandliabilitiesresultingfromtransferofotherreceivableandcontinuedinvolvementincurredduringhisperiod.7.InventoriesWhetherthecompanyisrequiredtocomplywiththedisclosurerequirementsforrealestateindustryNo(1)InventorybycategoryUnit:YuanItemEndingbalanceBeginningbalanceBookbalanceInventoryrevaluationreserveorcontractperformancecostimpairmentprovisionBookvalueBookbalanceInventoryrevaluationreserveorcontractperformancecostimpairmentprovisionBookvalueRawmaterials3,879,590,071.047,806,008.293,871,784,062.753,359,848,837.738,271,896.463,351,576,941.27Productsinprogress79,201,461.15140,754.5879,060,706.57111,157,928.5229,806,324.4681,351,604.06Commoditiesinstock2,162,700,220.2752,432,147.662,110,268,072.612,027,326,870.8573,939,751.261,953,387,119.59Revolvingmaterials53,474,186.13344,103.8153,130,082.3247,824,960.38533,806.7947,291,153.59Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd372Consumptivebiologicalassets8,794,516,603.05150,000.018,794,366,603.043,781,677,394.3332,439,396.783,749,237,997.55Goodsshipped7,057,815.497,057,815.49Packagingmaterials109,104,944.341,864,966.34107,239,978.0099,761,581.401,966,037.8297,795,543.58Low-valueconsumables23,161,257.4223,161,257.4212,017,179.4212,017,179.42Outsourcedprocessedmaterials8,096,772.348,096,772.34Total15,101,748,743.4062,737,980.6915,039,010,762.719,454,769,340.46146,957,213.579,307,812,126.89(2)InventoryrevaluationreserveorcontractperformancecostimpairmentprovisionUnit:YuanItemBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceAccruedOthersReversedorwrittenoffOthersRawmaterials8,271,896.4696,112.77268,470.07293,530.877,806,008.29Productsinprogress29,806,324.463,795,575.7933,461,145.67140,754.58Commoditiesinstock73,939,751.2616,196,208.2837,703,811.8852,432,147.66Revolvingmaterials533,806.79134,155.6355,547.35344,103.81Consumptivebiologicalassets32,439,396.785,628,387.6419,820.5637,937,604.97150,000.01Packagingmaterials1,966,037.82423,778.05488,017.1636,832.371,864,966.34Total146,957,213.5726,140,062.5319,820.56109,993,205.38385,910.5962,737,980.69Note:detailsofinventoryrevaluationreserveItemSpecificbasisforaccrualofinventoryrevaluationreserveCausesofcurrentreversalCausesofcurrentwrite-offRawmaterialsNetrealizablevaluelowerthanbookvaluePricereboundRequisitionedforproductioninthecurrentperiodProductsinprogressNetrealizablevaluelowerthanbookvaluePricereboundRequisitionedforproductioninthecurrentperiodFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd373PackagingmaterialsNetrealizablevaluelowerthanbookvaluePricereboundRequisitionedforproductioninthecurrentperiodRevolvingmaterialsNetrealizablevaluelowerthanbookvalueRequisitionedforproductioninthecurrentperiodCommoditiesinstockNetrealizablevaluelowerthanbookvaluePricereboundSoldinthecurrentperiodConsumptivebiologicalassetsNetrealizablevaluelowerthanbookvaluePricereboundSoldinthecurrentperiod(3)RemarksontheendingbalanceofinventorycontainingcapitalizedamountofborrowingcostsNone(4)RemarksoncurrentamortizedamountofcontractperformancecostNone8.OthercurrentassetsUnit:YuanItemEndingbalanceBeginningbalanceVATinputtaxtobededucted48,044,498.9077,175,038.97Taxesprepaid79,912,957.4052,843,101.51Others17,229,686.8210,046,119.14Total145,187,143.12140,064,259.62Otherremarks:The“others”itemmainlyconsistsofthefeedamountsprepaidforcooperativepigfarmingbytwoindirectlymajority-ownedsubsidiariesofthecompany,i.e.AnyangNewHopeLiuheFeedCo.,LtdandDaqingLiuheFeedCo.,Ltd.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3749.Long-termequityinvestmentsUnit:YuanInvesteeBeginningbalance(bookvalue)CurrentincreaseordecreaseEndingbalance(bookvalue)EndingbalanceofimpairmentprovisionAdditionalinvestmentReducedinvestmentProfitorlossoninvestmentrecognizedunderequitymethodAdjustmentforothercomprehensiveincomeOtherequitychangesCashdividendsorprofitsdeclaredfordistributionImpairmentprovisionaccruedOthersI.JointventuresTaishanJiaxinLogisticsCo.,Ltd0.00BeijingMeihaoMeidelingFoodCo.,Ltd71,700,433.94-3,716,174.7067,984,259.24AnhuiXinqiaoDownCo.,Ltd28,802,497.60-7,853,792.0020,948,705.60YananXinyongxiangTechnologyCo.,Ltd22,387,708.946,981,572.2229,369,281.16GuangdongHopeNo.1EquityInvestmentPartnership(LP)600,068,805.66-12,693,809.58587,374,996.08ShenyagnNewHopeNewAgricultrualIndustryFundPartnership(LP)700,900,000.00-2,406,344.34698,493,655.66HainanNongkenNewHopeFarming44,100,000.0034,056.0044,134,056.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd375TechnologyCo.,LtdZhanjiangGuangkenXinhaoFarmingCo.,Ltd22,413,580.0022,413,580.00Subtotal722,959,446.14767,413,580.00-19,654,492.401,470,718,533.74II.AffiliatedenterprisesChinaMinshengBankingCorp.19,253,326,942.051,188,168,827.00-73,120,009.003,006,648.00676,481,123.9419,694,901,284.11GuangzhouChimianCo.,Ltd3,323,282.24-67,312.503,255,969.74NHE(Beijing)TechnologyCo.,Ltd8,860,560.94108,444.958,969,005.89QianxinanHopeFarmingCo.,Ltd10,809,853.08535,291.9611,345,145.04HebeiKingheySausageCasingsCo.,Ltd4,972,000.00224,750.00944,750.004,252,000.00NewHopeFinanceCo.,Ltd621,155,077.6333,377,252.56654,532,330.19ZhejiangDingyuFoodCo.,Ltd152,319,303.395,192,797.44157,512,100.83ShanghaiDingyuFoodCo.,Ltd9,861,189.43650,015.4610,511,204.89QingdaoGanghangUnitedCommodityExchangeCo.,Ltd302,049.2748.95302,098.22NanjingHedaFoodCo.,0.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd376LtdQingdaoBigHerdsmanMachineryCo.,Ltd191,217,398.9335,593,134.11226,810,533.04AnhuiXinhuaDucksCo.,Ltd2,771,161.76-11,781.202,759,380.56ShanghaiLiuheQinqiangFoodCo.,Ltd45,459,304.68-450,929.4245,008,375.26BeijingCERESAgriculturalDevelopmentCo.,Ltd400,000.00400,000.00ShandongHyporLiuheBreedingCo.,Ltd26,136,450.00-1,032,300.0025,104,150.00AnhuiAntaiAgriculturalDevelopmentCo.,Ltd46,494,108.675,782,101.0752,276,209.74ZhejiangYouyiFoodCo.,Ltd4,403,531.96277,538.644,681,070.60ChongqingDPHNetworkTechnologyCo.,Ltd17,012,689.01-1,610,950.7615,401,738.25Subtotal20,398,824,903.041,266,736,928.26-73,120,009.003,006,648.00677,425,873.9420,918,022,596.36Total21,121,784,349.18767,413,580.001,247,082,435.86-73,120,009.003,006,648.00677,425,873.9422,388,741,130.10OtherremarksAsthenetassetsofNanjingHedaFoodCo.,LtdandTaishanJiaxinLogisticsCo.,Ltdhavebecomenegative,thecompanywrotetheinvestmentcostdownto0byaccountingforundertheequitymethod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd37710.InvestmentsinotherequityinstrumentsUnit:YuanItemEndingbalanceBeginningbalanceMinshengLifeInsuranceCo.,Ltd211,196,000.00211,196,000.00SinograinLaizhouFengheLogisticsCo.,Ltd10,000,000.0010,000,000.00ZiyangAgriculturalIndustrializationCreditGuaranteeCo.,Ltd4,500,000.004,500,000.00ZhuchengLiuheOrientalFoodCo.,Ltd5,028,001.105,028,001.10BeijingBaiyitongTechnologyCo.,Ltd21,970,000.0021,970,000.00HEcom(Beijing)TechnologyCo.,Ltd10,596,503.8410,596,503.84ShaanxiYanglingRuralCommercialBankCo.,Ltd7,020,000.007,020,000.00HebeiXingdaFeedGroupCo.,Ltd32,901,236.1032,901,236.10GuobaoLifeInsuranceCo.,Ltd15,000,000.0015,000,000.00FengshunNewHopeBiotechnologyCo.,Ltd65,086.4465,086.44Total318,276,827.48318,276,827.48Currentnon-tradingequityinstrumentinvestmentsdisclosedbyitemUnit:YuanProjectnameDividendincomerecognizedAccumulatedearningsAccumulatedlossesAmountofothercomprehensiveincometransferredtoretainedearningsReasonsforbeingdesignatedasatfairvalueandthroughothercomprehensiveincomeReasonsfortransferringothercomprehensiveincometoretainedearningsMinshengLifeInsuranceCo.,LtdSinograinLaizhouFengheLogisticsCo.,LtdZiyangAgriculturalIndustrializationCreditGuaranteeCo.,LtdZhuchengLiuheOrientalFoodCo.,LtdBeijingBaiyitongTechnologyCo.,LtdHEcom(Beijing)TechnologyCo.,LtdShaanxiYanglingRuralCommercialBankCo.,Ltd350,000.00HebeiXingdaFeedGroupCo.,LtdGuobaoLifeInsuranceCo.,LtdFengshunNewHopeBiotechnologyCo.,LtdFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd378Total350,000.00Otherremarks:Theequityinvestmentsofthecompanyanditssubsidiariesareinvestmentsplannedbythecompanyanditssubsidiariestoholdinlongtermforstrategicpurposes,thereforethecompanyanditssubsidiariesdesignatethemasfinancialassetsatfairvalueandthroughothercomprehensiveincomeonthedateoffirstadoptionofnewfinancialinstrumentstandards.11.Investmentproperties(1)Investmentpropertiesmeasuredatcost√Applicable□NotapplicableUnit:YuanItemHousesandbuildingsLanduserightWorksinprogressTotalI.Bookvalue1.Beginningbalance695,836.80695,836.802.Currentincrease(1)Purchased(2)Transferredfrominventory/fixedassets/worksinprogress(3)Increaseduetobusinesscombination3.Currentdecrease(1)Disposal(2)Othertransfer-out4.Endingbalance695,836.80695,836.80II.Accumulateddepreciationandaccumulatedamortization1.Beginningbalance314,699.11314,699.112.Currentincrease8,246.348,246.34(1)Accruedoramortized8,246.348,246.343.Currentdecrease(1)Disposal(2)Othertransfer-out4.Endingbalance322,945.45322,945.45III.Impairmentprovision1.Beginningbalance2.CurrentincreaseFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd379(1)Accrued3.Currentdecrease(1)Disposal(2)Othertransfer-out4.EndingbalanceIV.Bookvalue1.Endingbookvalue372,891.35372,891.352.Beginningbookvalue381,137.69381,137.69(2)Investmentpropertiesmeasuredatfairvalue□Applicable√Notapplicable12.FixedassetsUnit:YuanItemEndingbalanceBeginningbalanceFixedassets19,736,727,638.7513,821,369,956.62Disposaloffixedassets3,708,396.343,732,313.16Total19,740,436,035.0913,825,102,269.78(1)FixedassetsUnit:YuanItemHousesandbuildingsMachineryandequipmentTransportequipmentOthersTotalI.Originalbookvalue:1.Beginningbalance10,683,491,687.377,696,734,993.31375,088,684.21675,989,082.5419,431,304,447.432.Currentincrease4,031,318,050.052,286,238,533.44189,311,921.07177,948,404.226,684,816,908.78(1)Purchased57,947,183.12239,690,646.47187,579,486.96148,569,289.11633,786,605.66(2)Transferredfromworksinprogress3,952,434,594.782,032,136,030.50870,712.3228,513,712.796,013,955,050.39(3)Increaseduetobusinesscombination(4)Exchangeratechanges20,936,272.1514,411,856.47861,721.79865,402.3237,075,252.733.Currentdecrease128,208,303.08106,967,813.656,983,521.8117,307,256.09259,466,894.63(1)Disposedorscrapped106,068,624.5192,141,153.035,891,218.5716,219,939.71220,320,935.82Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd380(2)Exchangeratechanges22,139,678.5714,826,660.621,092,303.241,087,316.3839,145,958.814.Endingbalance14,586,601,434.349,876,005,713.10557,417,083.47836,630,230.6725,856,654,461.58II.Accumulateddepreciation1.Beginningbalance1,964,578,845.673,007,878,454.54165,731,522.52383,344,425.035,521,533,247.762.Currentincrease208,540,480.05359,773,856.3024,430,435.8849,887,989.72642,632,761.95(1)Accrued206,146,675.78355,966,887.9624,062,269.9849,492,809.31635,668,643.03(2)Exchangeratechanges2,393,804.273,806,968.34368,165.90395,180.416,964,118.923.Currentdecrease49,483,673.1957,950,074.276,425,950.077,621,454.24121,481,151.77(1)Disposedorscrapped47,204,705.9055,440,473.855,907,416.637,293,805.12115,846,401.50(2)Exchangeratechanges2,278,967.292,509,600.42518,533.44327,649.125,634,750.274.Endingbalance2,123,635,652.533,309,702,236.57183,736,008.33425,610,960.516,042,684,857.94III.Impairmentprovision1.Beginningbalance57,834,419.7429,342,642.75132,406.601,091,773.9688,401,243.052.Currentincrease(1)Accrued3.Currentdecrease9,156,982.501,950,025.4312,284.5139,985.7211,159,278.16(1)Disposedorscrapped9,156,982.501,873,370.0412,284.5139,985.7211,082,622.77(2)Exchangeratechanges76,655.3976,655.394.Endingbalance48,677,437.2427,392,617.32120,122.091,051,788.2477,241,964.89IV.Bookvalue1.Endingbookvalue12,414,288,344.576,538,910,859.21373,560,953.05409,967,481.9219,736,727,638.752.Beginningbookvalue8,661,078,421.964,659,513,896.02209,224,755.09291,552,883.5513,821,369,956.62(2)FixedassetstemporarilyidleUnit:YuanItemOriginalbookvalueAccumulateddepreciationImpairmentprovisionBookvalueRemarksHousesandbuildings129,477,201.2061,232,426.2425,991,649.5542,253,125.41Machineryandequipment114,821,809.3590,193,772.8711,973,702.5612,654,333.92Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd381Others6,994,964.686,025,679.80625,300.41343,984.47Total251,293,975.23157,451,878.9138,590,652.5255,251,443.80(3)FixedassetsleasedunderfinancialleasingUnit:YuanItemOriginalbookvalueAccumulateddepreciationImpairmentprovisionBookvalueMachineryandequipment20,000,000.004,612,618.5315,387,381.47Total20,000,000.004,612,618.5315,387,381.47(4)FixedassetsleasedunderoperatingleaseUnit:YuanItemEndingbookvalueGeneralofficebuildingsandproductionequipment226,859,319.04Total226,859,319.04(5)FixedassetswithtitlecertificatependingUnit:YuanItemBookvalueReasonsforpendencyoftitlecertificateSelf-builthousesonself-ownedland983,737,683.27FillingandcompletionformalitiestobeperfectedSelf-builthousesonleasedland6,065,708,991.28cannotbesecuredforleasedlandHouseswithtitletransferpending33,679,874.97Others2,227,101.84DilapidatedhousesTotal7,085,353,651.36Otherremarks(6)DisposaloffixedassetsUnit:YuanItemEndingbalanceBeginningbalanceDisposalofequipment47,020.1547,020.15Disposalofrealestate3,661,376.193,685,293.01Total3,708,396.343,732,313.16Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd382Otherremarks13.WorksinprogressUnit:YuanItemEndingbalanceBeginningbalanceWorksinprogress5,651,092,089.704,744,292,857.26Engineeringmaterials1,737,887.561,666,417.60Total5,652,829,977.264,745,959,274.86(1)WorksinprogressUnit:YuanItemEndingbalanceBeginningbalanceBookbalanceImpairmentprovisionBookvalueBookbalanceImpairmentprovisionBookvalueFeedplantreconstructionandexpansionproject516,181,047.07516,181,047.07488,236,307.41488,236,307.41Foodprocessingplantreconstructionandexpansionproject165,936,844.09165,936,844.09132,580,511.36132,580,511.36Breedingcompany’sreconstructionandexpansionproject4,960,308,473.863,260,194.004,957,048,279.864,124,406,313.533,247,978.904,121,158,334.63Others12,226,308.68300,390.0011,925,918.682,618,093.86300,390.002,317,703.86Total5,654,652,673.703,560,584.005,651,092,089.704,747,841,226.163,548,368.904,744,292,857.26Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd383(2)CurrentchangesinimportantworksinprogressUnit:YuanProjectnameBudgetaryamountBeginningbalanceCurrentincreaseAmounttransferredtofixedassetsinthecurrentperiodCurrentotherdecreaseEndingbalancePercentageofaccumulatedprojectinputinbudgetProjectprogressAccumulatedamountofcapitalizedinterestWherein:currentamountofinterestcapitalizedCurrentinterestcapitalizationrateSourceoffundingLaixiNewHopeLiuheFarmingCo.,Ltd2,400,000,000.009,339,539.93134,818,454.0926,909,529.30117,248,464.725.64%6.00%414,214.11198,047.443.50%OthersTongliaoXinhaoFarmingCo.,Ltd1,100,000,000.00462,068,887.59117,204,613.93549,862,321.6229,411,179.9052.59%60.00%5,314,573.16108,081.773.50%OthersLiaoningXinwangTechnologyCo.,Ltd1,081,320,000.00556,891,865.06112,541,267.95429,402,524.91240,030,608.1061.91%62.00%9,090,161.399,090,161.393.50%OthersLaibinXinhaoFarmingCo.,Ltd1,047,960,000.00141,499,398.18192,812,996.88262,539,349.0571,773,046.0131.75%32.00%279,098.94279,098.943.50%OthersHubeiXinhaoFarmingCo.,Ltd788,700,000.0075,007,616.01222,728,557.85242,003,626.0055,732,547.8637.75%38.00%217,350.52217,350.523.50%OthersSuzhouXinhaoFarmingCo.,Ltd714,013,450.004,727,034.8198,860,044.140.00103,587,078.9514.51%15.00%878,664.40726,997.723.50%OthersKangpingXinwangFarmingCo.,Ltd707,000,000.00180,138,825.54144,305,267.48201,016,593.12123,427,499.9045.89%46.00%1,887,579.051,887,579.053.50%OthersNingmingXinhaoFarmingCo.,Ltd650,260,000.0027,898,973.05124,313,835.410.00152,212,808.4623.41%24.00%1,880,073.511,880,073.513.50%OthersFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd384HuanghuaXinhaoTechnologyCo.,Ltd624,920,000.00159,492,845.7595,193,980.28224,367,304.0930,319,521.9440.76%40.00%3,923,717.66980,163.963.50%OthersXinjiXinliuFarmingTechnologyCo.,Ltd618,130,000.00210,224,542.13119,394,195.16210,802,780.48118,815,956.8153.33%63.00%3,550,178.003,087,028.003.50%OthersTotal9,732,303,450.001,827,289,528.051,362,173,213.172,146,904,028.571,042,558,712.65----27,435,610.7418,454,582.30--Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd385(3)ImpairmentprovisionaccruedforworksinprogressinthecurrentperiodUnit:YuanItemCurrentaccruedamountReasonsforaccrualFeedplantreconstructionandexpansionprojectFoodprocessingplantreconstructionandexpansionprojectBreedingcompany’sreconstructionandexpansionproject12,215.10OutofconstructionforaprolongedperiodoftimeOthersTotal12,215.10--Otherremarks(4)EngineeringmaterialsUnit:YuanItemEndingbalanceBeginningbalanceBookbalanceImpairmentprovisionBookvalueBookbalanceImpairmentprovisionBookvalueSpecialmaterials1,533,832.761,533,832.761,457,286.981,457,286.98Specialequipment204,054.80204,054.80209,130.62209,130.62Total1,737,887.561,737,887.561,666,417.601,666,417.60Otherremarks:14.Productivebiologicalassets(1)Productivebiologicalassetsmeasuredatcost√Applicable□NotapplicableUnit:YuanItemPlantingbusinessLivestockbreedingbusinessForestryAquaticbusinessTotalUnmaturedMaturedI.Bookvalue1.Beginningbalance1,450,181,197.881,278,049,662.512,728,230,860.392.Currentincrease6,926,051,291.953,671,040,604.9610,597,091,896.91(1)Purchased4,018,669,897.5899,683,602.784,118,353,500.36Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd386(2)In-housecultivation2,906,462,074.583,569,712,168.716,476,174,243.29(3)Increaseduetobusinesscombination(4)Exchangeratechanges919,319.791,644,833.472,564,153.26(3)Others3.Currentdecrease4,199,066,167.97761,197,545.944,960,263,713.91(1)Disposal629,299,254.80711,924,192.791,341,223,447.59(2)Others(3)Reductioninsubsidiaries(4)Exchangeratechanges54,744.461,592,005.701,646,750.16(5)Herdtransferandmolting3,569,712,168.7147,681,347.453,617,393,516.164.Endingbalance4,177,166,321.864,187,892,721.538,365,059,043.39II.Accumulateddepreciation1.Beginningbalance217,597,689.75217,597,689.752.Currentincrease363,527,406.61363,527,406.61(1)Accrued362,956,396.78362,956,396.78(2)Increaseduetobusinesscombination(3)Exchangeratechanges571,009.83571,009.833.Currentdecrease166,920,286.38166,920,286.38(1)Disposal146,866,768.77146,866,768.77(2)Others(3)Reductioninsubsidiaries(4)Exchangeratechanges784,664.68784,664.68(5)Herdtransferandmolting19,268,852.9319,268,852.934.Endingbalance414,204,809.98414,204,809.98III.ImpairmentprovisionFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3871.Beginningbalance2.Currentincrease(1)Accrued(2)Increaseduetobusinesscombination(3)Exchangeratechanges3.Currentdecrease(1)Disposal(2)Others(3)Reductioninsubsidiaries(4)Exchangeratechanges4.EndingbalanceIV.Bookvalue1.Endingbookvalue4,177,166,321.863,773,687,911.557,950,854,233.412.Beginningbookvalue1,450,181,197.881,060,451,972.762,510,633,170.64(2)Productivebiologicalassetsmeasuredatfairvalue□Applicable√Notapplicable15.Intangibleassets(1)IntangibleassetsUnit:YuanItemLanduserightPatentsNon-patentedtechnologyOthersTotalI.Bookvalue1.Beginningbalance1,534,006,017.67950,338.17340,302,095.151,875,258,450.992.Currentincrease136,187,956.1931,722,805.47167,910,761.66(1)Purchased131,693,665.2114,719,729.20146,413,394.41(2)In-houseR&D(3)Increaseduetobusinesscombination17,002,735.9217,002,735.92(4)Exchangeratechanges4,494,290.98340.354,494,631.33Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3883.Currentdecrease8,794,775.2512,163,523.2020,958,298.45(1)Disposal4,343,853.7112,163,454.7916,507,308.50(2)Reductioninsubsidiaries(3)Exchangeratechanges4,450,921.5468.414,450,989.954.Endingbalance1,661,399,198.61950,338.17359,861,377.422,022,210,914.20II.Accumulatedamortization1.Beginningbalance263,694,072.94171,839.55217,406,786.24481,272,698.732.Currentincrease15,988,975.8817,598.8423,905,485.2939,912,060.01(1)Accrued15,742,488.6317,598.8423,905,144.9339,665,232.40(2)Increaseduetobusinesscombination(3)Exchangeratechanges246,487.25340.36246,827.613.Currentdecrease2,710,947.8012,163,454.7914,874,402.59(1)Disposal2,605,860.7612,163,454.7914,769,315.55(2)Reductioninsubsidiaries(3)Exchangeratechanges105,087.04105,087.044.Endingbalance276,972,101.02189,438.39229,148,816.74506,310,356.15III.Impairmentprovision1.Beginningbalance5,055,050.005,055,050.002.Currentincrease(1)Accrued(2)Increaseduetobusinesscombination(3)Exchangeratechanges3.Currentdecrease(1)Disposal(2)Reductioninsubsidiaries(3)Exchangeratechanges4.Endingbalance5,055,050.005,055,050.00IV.Bookvalue1.Endingbookvalue1,379,372,047.59760,899.78130,712,560.681,510,845,508.052.Beginningbookvalue1,265,256,894.73778,498.62122,895,308.911,388,930,702.26Percentageoftheintangibleassetsresultingfromin-houseresearchanddevelopmentofthecompanyattheendofthisperiodaccountedinthebalanceofintangibleassetsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd389(2)LanduserightforwhichcertificateoftitleispendingUnit:YuanItemBookvalueReasonsforpendencyoftitlecertificateNewHopeLiuheFeedCo.,Ltd16,901,390.93Incompletepaperwork,intheprocessofsecuringpermitsLiuheFeed(Huaian)Co.,Ltd4,279,650.28Incompletepaperwork,intheprocessofsecuringpermitsLinmuLiuheFeedCo.,Ltd1,707,441.65Incompletepaperwork,intheprocessofsecuringpermitsLingbaoNewHopeLiuheFeedCo.,Ltd186,753.40Incompletepaperwork,intheprocessofsecuringpermitsLanduserightofFuxinLiuheFarmingCo.,Ltd2,851,483.72Incompletepaperwork,intheprocessofsecuringpermitsWudiLiuheXinyangFoodCo.,Ltd2,866,666.64Incompletepaperwork,intheprocessofsecuringpermitsTotal28,793,386.62Otherremarks:16.Goodwill(1)OriginalbookvalueofgoodwillUnit:YuanNameofinvesteeormattersresultingingoodwillBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceFormedfrombusinesscombinationOthersDisposalOthersNewHopeLiuheInvestmentCo.,Ltd58,567,474.8058,567,474.80BeijingKingheyFoodCo.,Ltd19,091,431.4519,091,431.45ChengduFenglanTechnologyCo.,Ltd36,276,456.4836,276,456.48ChengduCenturyInvestmentCo.,Ltd398,573,665.34398,573,665.34BeijingPorridgeJiaheEnterpriseManagementCo.,Ltd80,314,997.5680,314,997.56HefeiHuarenFarmingGroupCo.,Ltd6,118,302.826,118,302.82XiantaoLiuheFeedCo.,Ltd422,276.77422,276.77SheyangLiuheFeedCo.,Ltd2,194,351.612,194,351.61AnhuiWanxiWhiteGooseStockSeedFarmCo.,Ltd1,958,093.801,958,093.80LinxiHexingFeedCo.,Ltd3,535,449.753,535,449.75YanglingBesunAgriculturalIndustryGroupCo.,Ltd280,514,799.76280,514,799.76Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd390WeinanZhengnengFarmingTechnologyCo.,Ltd19,920,121.9719,920,121.97LaiyangXinmuBreedingCo.,Ltd251,371,600.00251,371,600.00ZhengzhouQuanshengFarmingTechnologyCo.,Ltd98,349,399.0598,349,399.05Total1,257,208,421.161,257,208,421.16(2)ProvisionforgoodwillimpairmentUnit:YuanNameofinvesteeormattersresultingingoodwillBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceAccruedOthersDisposalOthersBeijingKingheyFoodCo.,Ltd10,418,225.0910,418,225.09HefeiHuarenFarmingGroupCo.,Ltd6,118,302.826,118,302.82XiantaoLiuheFeedCo.,Ltd422,276.77422,276.77AnhuiWanxiWhiteGooseStockSeedFarmCo.,Ltd1,958,093.801,958,093.80LinxiHexingFeedCo.,Ltd3,535,449.753,535,449.75Total22,452,348.2322,452,348.23RelatedinformationaboutassetgrouporassetgroupportfoliotowhichgoodwillbelongsThecostofgoodwillisthegoodwillarisingwhenthecompanyconductsbusinesscombinationwiththeaforesaidsubsidiaries.Whenconductinggoodwillimpairmenttest,thecompanyregardseachoftheaforesaidsubsidiariesasanindependentassetgroupandincludesitsgoodwillintheassetgroupforimpairmenttest.Descriptionofthegoodwillimpairmenttestprocess,keyparameters(suchastheforecastperiodgrowthrate,stableperiodgrowthrate,profitrate,discountrateandforecastperiodwhenforecastingthepresentvalueoffuturecashflow,etc.)andthemethodforrecognitionofgoodwillimpairmentloss:1.Methodforgoodwillimpairmenttest:valuatetheentireassetsofthecompanybasedonthepresentvalueofestimatedcashflowofrelatedsubsidiariesinthenextfiveyearsforcomparisonwiththesumoftheexistingbookvalueofthecompanyandthevalueafterrestorationofgoodwillofminorityshareholders.Thepre-taxdiscountrateusedforforecastingthepresentvalueofcashflowis11.03%to15.05%.Animportantassumptionisthattheprofitabilityforecastofassetgroupswithgoodwillinthenextfiveyearsisconsistentwiththefutureplanofthecompanyandtheassumptionsaboutthefuturesalesgrowthrate,estimatedgrossmarginandrelatedcostsarereasonable.Themainbusinessesofassetgroupswithgoodwillofthecompanyaresomecompaniesinfeed,breedingandfoodindustries,thebusinessesofwhichareallindustriesencouragedbythestateandcloselyconnectedwiththelifeofthegeneralpublic.Theeffectsofmacro-policyregulationbythestateontheactualoperationsofthecompanyinthepastyearswereallmainlypositive,withoutanynegativeeffects.Whenconductingimpairmenttestandforecastingfuturebusinessperformance,thecompanymakesforecastsbasedonitsoverallbusinessobjectives.Whenplanningitsfuturebusinessobjectives,thecompanygivessufficientconsiderationtotheeffectsofchangingdynamicsoftheindustryenvironmentandmacro-environmentontheindustryinwhichthecompanyoperates,andmakesreasonableassumptionsbasedonthehistoricaldataaboutitsassetgroupsandtheindustrydevelopmenttrends.2.Accrualofprovisionforgoodwillimpairment:theamountofgoodwillimpairmentisdeterminedbythedifferencebetweentheFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd391estimatedpresentvalueofrecoverablecashflowandthesumofthecompany’sexistingbookvalueandvalueafterrestorationofthegoodwillofminorityshareholders.EffectsofgoodwillimpairmenttestAccordingtothetestresults,thereisnogoodwillimpairmentlossduringthisperiod.17.Long-termunamortizedexpensesUnit:YuanItemBeginningbalanceCurrentincreaseCurrentamountamortizedOtherdecreasesEndingbalanceLandusefee255,007,993.13241,460,045.8440,666,689.284,783,968.99451,017,380.70Expenditureonimprovementofleasedfixedassets59,393,374.4136,997,639.7712,555,146.017,823.2183,828,044.96Electricitycapacityexpansionfee120,878.36117,946.842,931.52Rentalexpensesoffactorybuildingsandequipment60,311,192.8989,662,973.5447,432,610.46194,698.18102,346,857.79Others31,486,852.7216,994,963.37520,988.17-147,488.0248,108,315.94Total406,320,291.51385,115,622.52101,293,380.764,841,933.88685,300,599.39Otherremarks“Otherdecreases”includestheeffectsofexchangerateratesandreducedscopeofconsolidatedstatements.18.Deferredincometaxassetsanddifferedincometaxliabilities(1)DeferredincometaxassetsnotoffsetUnit:YuanItemEndingbalanceBeginningbalanceDeductibletemporarydifferenceDeferredincometaxassetsDeductibletemporarydifferenceDeferredincometaxassetsAssetimpairmentprovision218,273,578.7854,366,971.34340,756,427.0460,922,354.63Profitsunrealizedthroughinternaltransactions147,769,914.5335,446,201.37149,149,993.3234,002,169.74Deductiblelosses622,149,597.50156,506,967.04678,911,803.69168,044,492.27Changeinfairvalueofheld-for-tradingfinancialassets425,140.00106,285.00Guaranteeindemnityprovisionanddeferredincome,etc.58,769,149.0314,692,287.2558,850,497.8614,712,624.45Total1,046,962,239.84261,012,427.001,228,093,861.91277,787,926.09Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd392(2)DeferredincometaxliabilitiesnotoffsetUnit:YuanItemEndingbalanceBeginningbalanceTaxabletemporarydifferenceDeferredincometaxliabilitiesTaxabletemporarydifferenceDeferredincometaxliabilitiesChangeinfairvalueofheld-for-tradingfinancialassets1,385,980.00346,495.00174,140.0043,535.00Taxablevalueofassetslowerthanbookvalue67,574,856.0915,959,029.3372,381,667.5817,026,975.65Total68,960,836.0916,305,524.3372,555,807.5817,070,510.65(3)DeferredincometaxassetsorliabilitiespresentedbynetamountafteroffsetUnit:YuanItemEndingamountmutuallyoffsetbetweendeferredincometaxassetsandliabilitiesEndingbalanceofdeferredincometaxassetsorliabilitiesafteroffsetBeginningamountmutuallyoffsetbetweendeferredincometaxassetsandliabilitiesBeginningbalanceofdeferredincometaxassetsorliabilitiesafteroffsetDeferredincometaxassets346,495.00260,665,932.0043,535.00277,744,391.09Deferredincometaxliabilities346,495.0015,959,029.3343,535.0017,026,975.65(4)DetailsofunrecognizeddeferredincometaxassetsUnit:YuanItemEndingbalanceBeginningbalanceDeductiblelosses1,571,963,906.201,501,590,369.68Assetimpairmentprovision241,559,743.48401,262,265.66Total1,813,523,649.681,902,852,635.34(5)ThedeductiblelossesonunrecognizeddeferredincometaxassetswillbecomedueinthefollowingyearsUnit:YuanYearEndingamountBeginningamountRemarks2020118,393,160.792021236,081,676.58241,094,987.702022259,612,438.86261,367,606.02Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3932023299,989,891.09363,785,578.592024391,309,779.80516,949,036.582025384,970,119.87Total1,571,963,906.201,501,590,369.68--Otherremarks:19.OthernoncurrentassetsUnit:YuanItemEndingbalanceBeginningbalanceBookbalanceImpairmentprovisionBookvalueBookbalanceImpairmentprovisionBookvalueAmountsprepaidforlong-termassets2,154,371,037.322,154,371,037.32660,968,352.47660,968,352.47VATinputtaxtobededucted564,859,757.15564,859,757.15548,257,364.08548,257,364.08Total2,719,230,794.472,719,230,794.471,209,225,716.551,209,225,716.55Otherremarks:20.Short-termborrowings(1)Short-termborrowingsbycategoryUnit:YuanItemEndingbalanceBeginningbalanceMortgageloans85,897,653.00253,308,103.10Guaranteedborrowings3,808,756,840.382,272,433,371.87Creditborrowings5,935,296,274.946,361,650,346.11Borrowingsagainstbilldiscounting5,739,601,715.614,733,170,584.48BorrowingsagainstL/Cdiscounting118,980,083.80Borrowingsagainstdiscountingofnegotiablecreditcertificateofaccountsreceivable27,599,404.62Factoringofaccountsreceivable19,901,800.20Total15,736,033,772.5513,620,562,405.56Remarksoncategorizationofshort-termborrowings(1)Themortgageloansandassetmortgagesarepresentedasfollows:CollateralsOriginalbookvalueofAmountofmortgageloanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd394collateralHousesandlandofLaotingNewHopeLiuheShengxiangFeedCo.,Ltd82,236,500.0020,000,000.00HousesandlandofZhongxiangHopeFeedCo.,Ltd11,878,773.2910,000,000.00LandofNewAgroBusinessNepalPvtLtd4,779,764.878,797,653.00RealestateofAnhuiXinhuaFarmingTechnologyCo.,Ltd11,401,781.0014,100,000.00HousesandlandofYichangNewHopeFeedCo.,Ltd5,025,816.598,500,000.00HousesandlandofWuweiHopeFeedCo.,Ltd14,197,185.928,500,000.00HousesandlandofHuaianNewHopeFeedCo.,Ltd15,096,501.0010,000,000.00HousesandlandofAnhuiBaixinFeedCo.,Ltd1,838,000.006,000,000.00Total146,454,322.6785,897,653.00(2)Thedetailsofguaranteedborrowingsarepresentedasfollows:NamesoftheguarantorandtheguaranteedEndingbalanceGuaranteeprovidedbySouthHopeIndustrialCo.,LtdforLhasaNewHopeIndustrialCo.,Ltd3,600,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforLhasaNewHopeIndustrialCo.,Ltd4,400,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHuanggangNewHopeFeedTechnologyCo.,Ltd40,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforNingxiaNewHopeRuminantNutritiousFoodsCo.,Ltd50,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforXiangyangNewHopeLiuheFeedCo.,Ltd18,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforGuangzhouLiuheFeedCo.,Ltd60,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforJiangmenLiuheFeedCo.,Ltd100,000,000.00GuaranteeprovidedbyYangguLuxinIslamicFoodCo.,LtdforYangguLiuheLuxinFoodCo.,Ltd5,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforLiaoningKingheyFoodCo.,Ltd50,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHebeiKingheyMeatIndustryCo.,Ltd150,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforSantaiNewHopeFarmingTechnologyCo.,Ltd10,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforRugaoXinhaoFarmingCo.,Ltd40,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforXiajinNewHopeLiuheBreedingCo.,Ltd10,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforJiangyouNewHopeHyporSwineBreedingCo.,Ltd10,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforDonghaiXinhaoFarmingCo.,Ltd30,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforNanningWumingDistrictXinliuFarmingTechnologyCo.,Ltd50,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforAnyueNewHopeLiuheFarmingCo.,Ltd50,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforNewHopeSingaporePteLtd.1,742,724,844.80GuaranteeprovidedbyNewHopeSingaporePteLtdforNewHopeTarlarcAgricultureInc.60,739,686.77GuaranteeprovidedbyNewHopeSingaporePteLtdforNewHopeIsabelaAgricultureInc.25,604,551.80GuaranteeprovidedbyNewHopeSingaporePteLtdforNewHopeCentralLuzonAgricultureInc.106,970,127.52GuaranteeprovidedbyNewHopeSingaporePteLtdforNewHopeBulacanAgricultureInc.76,813,655.40GuaranteeprovidedbyNewHopeLiuheCo.,LtdforSichuanNewHopeLiuheFarmingCo.,Ltd190,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforSichuanNewHopeLiuheFarmingCo.,Ltd148,903,974.09Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd395ChengduBranchGuaranteeprovidedbyNewHopeLiuheCo.,LtdforChongqingGuoxiongFeedCo.,Ltd30,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforJinzhouNewHopeFeedCo.,Ltd35,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforJiangxiNewHopeFarmingTechnologyCo.,Ltd20,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforNanningNewHopeFarmingTechnologyCo.,Ltd150,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforLiuheFeed(Huaian)Co.,Ltd25,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforXiantaoLiuheFeedCo.,Ltd20,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHubeiTianfengNewHopeFeedCo.,Ltd30,000,000.00GuaranteeprovidedbyShandongNewHopeLiuheGroupCo.,LtdforFuxinLiuheFarmingCo.,Ltd50,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforChongqingNewHopeFeedCo.,Ltd100,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforAnyangNewHopeLiuheFeedCo.,Ltd20,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforYanshiLiuheFeedCo.,Ltd40,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforGushiLiuheCo.,Ltd26,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforLaibinXinhaoFarmingCo.,Ltd100,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforBeijingKingheyFoodCo.,Ltd130,000,000.00Total3,808,756,840.38(2)Short-termborrowingsoverduebutnotrepaidTheshort-termborrowingsoverduebutnotrepaidattheendofthisperiodtotaled0.00Yuan.21.Held-for-tradingfinancialliabilitiesUnit:YuanItemEndingbalanceBeginningbalanceHeld-for-tradingfinancialliabilities3,761,357.305,240,664.99Wherein:Derivativefinancialliabilities3,761,357.305,240,664.99Wherein:Total3,761,357.305,240,664.99Otherremarks:Thederivativefinancialliabilitiesarefuturescontractsandinterestrateswapspurchased.22.NotespayableUnit:YuanCategoryEndingbalanceBeginningbalanceCommercialacceptancebills149,328,782.15530,104,012.26Bankacceptancebills636,832,408.6016,309,182.16Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd396Negotiablecreditcertificateofaccountsreceivable564,393.77Total786,725,584.52546,413,194.42Thenotespayableoverdueandunpaidattheendofthisperiodtotaled0.00Yuan.23.Accountspayable(1)PresentationofaccountspayableUnit:YuanItemEndingbalanceBeginningbalanceAccountspayable6,968,406,305.264,966,318,094.79Total6,968,406,305.264,966,318,094.79Otherremarks:Theendingbalanceincludesnoimportantaccountspayableagedover1year.24.ContractliabilitiesUnit:YuanItemEndingbalanceBeginningbalanceContractliabilities1,730,365,985.171,347,222,574.40Total1,730,365,985.171,347,222,574.4025.Payrollpayable(1)PresentationofpayrollpayableUnit:YuanItemBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceI.Short-termcompensation790,526,432.193,162,536,485.743,070,332,502.89882,730,415.04II.Post-employmentbenefits-definedcontributionplan2,573,194.5446,579,088.2046,474,218.742,678,064.00III.Terminationbenefits1,766,065.256,629,339.442,681,149.845,714,254.85Total794,865,691.983,215,744,913.383,119,487,871.47891,122,733.89(2)Presentationofshort-termcompensationUnit:YuanItemBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd3971.Wage,bonus,allowanceandsubsidy624,028,286.522,855,064,972.622,785,314,990.36693,778,268.782.Employeebenefits7,815,026.47180,911,618.67187,580,204.271,146,440.873.Socialinsurancecosts1,325,597.3760,877,140.1860,600,407.301,602,330.25Wherein:medicalinsurancecosts1,078,826.0156,229,599.8155,872,513.141,435,912.68Industrialinjuryinsurancecosts184,670.132,000,467.862,080,161.70104,976.29Maternityinsurancecosts62,101.232,647,072.512,647,732.4661,441.284.Housingfund370,378.7211,009,276.5610,970,237.71409,417.575.Tradeunionoutlaysandemployeeeducationexpenditure156,978,157.9649,671,776.6120,855,977.00185,793,957.576.Short-termpaidabsence8,985.155,001,701.105,010,686.25Total790,526,432.193,162,536,485.743,070,332,502.89882,730,415.04(3)PresentationofdefinedcontributionplanUnit:YuanItemBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalance1.Basicendowmentinsurance2,029,315.6139,088,634.1939,237,871.161,880,078.642.Unemploymentinsurancecosts475,972.561,862,265.321,803,159.74535,078.144.Comprehensiveinsurance67,906.375,628,188.695,433,187.84262,907.22Total2,573,194.5446,579,088.2046,474,218.742,678,064.00Otherremarks:Thecompanyparticipatesinendowmentinsuranceandunemploymentinsuranceprogramsestablishedbythegovernmentaccordingtoprovisions,wherebythecompanypayscontributionseachmonthaccordingtotherulesofsocialsecuritybureau;apartfromtheaforesaidmonthlycontributions,thecompanywillnolongerassumefurtherpaymentobligationandthecorrespondingexpendituresarechargedtothecurrentprofitandlossorcostsofrelatedassetsasandwhenincurred.Therewasnoamountinarrearsinthepayrollpayable;thewage,bonus,allowanceandsubsidyareexpectedtobefullypaidinJuly2020,andthesocialinsurancepremiumswillbepaidtothesocialsecuritybureauinJuly2020.26.TaxespayableUnit:YuanItemEndingbalanceBeginningbalanceVAT42,806,080.7332,505,727.29incometax152,410,718.15134,915,623.35Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd398Personalincometax14,628,909.0612,117,589.82Urbanmaintenanceandconstructiontax818,435.62761,271.50Educationalsurcharge424,898.12382,270.04Localeducationalsurcharge369,364.57347,972.92Waterconservancyfund459,796.08416,789.84Landusetax9,064,403.397,626,063.74Realestatetax8,585,696.336,659,174.75Stampduty5,170,489.865,109,632.86Others11,293,272.1515,264,058.15Total246,032,064.06216,106,174.26Otherremarks:27.OtherpayablesUnit:YuanItemEndingbalanceBeginningbalanceInterestpayable109,375,976.7245,768,415.29Dividendspayable174,273,094.99194,636,496.96Otherpayables4,909,818,966.453,608,419,294.22Total5,193,468,038.163,848,824,206.47(1)InterestpayableUnit:YuanItemEndingbalanceBeginningbalanceInterestonlong-termborrowingswithinterestpaymentininstallmentsandprincipalrepaymentuponmaturity24,410,901.6417,084,063.67Interestoncorporatebonds29,604,166.70Interestpayableonshort-termborrowings55,360,908.3828,684,351.62Total109,375,976.7245,768,415.29(2)DividendspayableUnit:YuanItemEndingbalanceBeginningbalanceDividendsonordinaryshares174,273,094.99194,636,496.96Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd399Total174,273,094.99194,636,496.96Otherremarks,includingimportantdividendspayablethatareunpaidbeyond1year,thereasonsfornon-paymentshallbedisclosed:ItemEndingbalanceBeginningbalanceReasonsfornon-paymentbeyond1year1.Dividendsonordinaryshares174,273,094.99194,636,496.96Wherein:NewHopeGroupCo.,Ltd89,500,000.0089,500,000.00Alreadydeclared,butnotyetclaimedbytheoppositeparty.ExceptionalAssetsLimited74,773,094.9994,430,959.88Alreadydeclared,butnotyetclaimedbytheoppositeparty.TaianLelingFeedCo.,Ltd705,537.08ShandongRongdaAgriculturalDevelopmentCo.,Ltd10,000,000.0010,000,000.002.Dividendsonpreferredshares\perpetualbondsclassifiedasequityinstrumentTotal174,273,094.99194,636,496.96(3)Otherpayables1)OtherpayablespresentedbynatureofamountUnit:YuanItemEndingbalanceBeginningbalanceTemporaryborrowings1,518,816,321.92469,352,702.49Variousdepositsandmarginstemporarilyretained2,982,557,395.402,763,575,817.73Managedsecuredfunds29,668,875.5737,819,119.11Accruedexpenses132,320,364.4696,426,162.82Others246,456,009.10241,245,492.07Total4,909,818,966.453,608,419,294.222)Importantotherpayablesagedover1yearUnit:YuanItemEndingbalanceReasonsfornon-repaymentorcarry-forwardSouthHopeIndustrialCo.,Ltd143,998,704.00NotcarriedforwardduetopendingcompletionofpaperworkforequitiesandtitleQingshuiTownshipGovernment34,462,276.50TemporaryborrowingsFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd400HangzhouSanyouDownCo.,Ltd24,000,000.00DepositAnhuiHuayingXintangDownCo.,Ltd12,000,000.00DepositTongchengHongrunDownCo.,Ltd11,904,861.63DepositHangzhouXiangliDownProductsCo.,Ltd6,000,000.00DepositTaiqianShunheDownProductsCo.,Ltd5,999,999.69DepositTotal238,365,841.82--Otherremarks28.NoncurrentliabilitiesduewithinayearUnit:YuanItemEndingbalanceBeginningbalanceLong-termborrowingsduewithinayear851,821,853.94840,692,185.74Long-termpayablesduewithinayear12,026,916.669,659,520.83Total863,848,770.60850,351,706.57Otherremarks:(1)Long-termborrowingsduewithinayear:ItemEndingbalanceBeginningbalancePledgeloans61,500,000.005,000,000.00Mortgageloans41,904,468.202,362,604.00Guaranteedborrowings203,197,885.74129,279,581.74Creditborrowings545,219,500.00704,050,000.00Total851,821,853.94840,692,185.74Note1:thepledgeloansduewithinayeararetheequitypledgeguaranteesprovidedbyTibetXinhaoTechnologyCo.,LtdwithallequitiesheldbyitinKangpingXinwangFarmingCo.,Ltd,BaiyinNewHopeFarmingTechnologyCo.,Ltd,GaomiXinliuFarmingTechnologyCo.,Ltd,RaoyangXinhaoFarmingCo.,LtdandFuchengXinhaoFarmingCo.,Ltdaspledges,asdetailedinthepledgeloansinthelong-termborrowings.Note2:thecollateralsformortgageloansduewithinayeararethelandandhousesofBeijingKingheyFoodCo.,LtdandSingaporeBiotechnologyPteLtdandlandandplantequipmentofGuanghanGuoxiongandCenturyInvestment,asdetailedinthemortgageloansinthelong-termborrowings.Note3:theguaranteedborrowingsduewithinayeararetheborrowingswithrespecttowhichNewHopeLiuheCo.,Ltdprovidedguaranteesforitssubsidiaries,asdetailedintheguaranteedborrowingsinthelong-termborrowingsNote4:long-termpayablesduewithinayeararetheamountsduewithinayearwithrespecttothefixedassetsleasedbythecompanyunderfinancialleasing.29OthercurrentliabilitiesUnit:YuanItemEndingbalanceBeginningbalanceFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd401Short-termpayablebonds999,250,000.00Total999,250,000.00Increaseordecreaseinshort-termpayablebondsUnit:YuanBondnameNominalvalueDateissuedBondperiodIssuedamountBeginningbalanceCurrentlyissuedInterestaccruedatnominalvalueAmortizationofpremiumanddiscountCurrentlyrepaidEndingbalanceShort-termfinancingbills1,000,000,000.005/15/20209months999,100,000.00999,100,000.002,737,500.00150,000.00999,250,000.00Total------999,100,000.00999,100,000.002,737,500.00150,000.00999,250,000.00Otherremarks:30.Long-termborrowings(1)Long-termborrowingsbycategoryUnit:YuanItemEndingbalanceBeginningbalancePledgeloans1,163,000,000.00195,000,000.00Mortgageloans227,000,000.0059,054,122.60Guaranteedborrowings6,144,753,376.12754,232,326.94Creditborrowings7,189,443,989.003,946,200,000.00Total14,724,197,365.124,954,486,449.54Remarksoncategorizationoflong-termborrowings:(1)Pledgeloansandpledgesareasfollows:DetailsofpledgeAmountofpledgeloan76.92%equitiesinKangpingXinwangFarmingCo.Ltd250,000,000.00100%equitiesinBaiyinNewHopeFarmingTechnologyCo.,Ltd290,000,000.00100%equitiesinGaomiXinliuFarmingTechnologyCo.,Ltd143,000,000.00100%equitiesinRaoyangXinhaoFarmingCo.,Ltd152,444,400.00100%equitiesinFuchengXinhaoFarmingCo.,Ltd75,555,600.0044.18%equitiesinHuanghuaXinhaoTechnologyCo.,Ltd102,000,000.0039.34%equitiesinXiangzhouXinhaoFarmingCo.,Ltd150,000,000.00Total1,163,000,000.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd402Note1:TibetXinhaoTechnologyCo.,Ltd,asubsidiaryofthecompany,providedanequitypledgeguaranteeforNewHopeLiuheCo.,Ltdtosecure260millionYuanfinancingfromChinaDevelopmentBankSichuanBranchwith76.92%equitiesinKangpingXinwangFarmingCo.,Ltdasthepledge,ofwhich10millionYuanwillbecomeduewithinayearandhasbeentransferredto“long-termborrowingsduewithinayear”.Note2:TibetXinhaoTechnologyCo.,Ltd,asubsidiaryofthecompany,providedanequitypledgeguaranteeforNewHopeLiuheCo.,Ltdtosecure300millionYuanfinancingfromChinaDevelopmentBankSichuanBranchwithallequitiesinBaiyinNewHopeFarmingTechnologyCo.,Ltdasthepledge,ofwhich10millionYuanwillbecomeduewithinayearandhasbeentransferredto“long-termborrowingsduewithinayear”Note3:TibetXinhaoTechnologyCo.,Ltd,asubsidiaryofthecompany,providedanequitypledgeguaranteeforNewHopeLiuheCo.,Ltdtosecure156millionYuanfinancingfromExport&ImportBankofChinaSichuanBranchwithallequitiesinGaomiXinliuFarmingTechnologyCo.,Ltdasthepledge,ofwhich13millionYuanwillbecomeduewithinayearandhasbeentransferredto“long-termborrowingsduewithinayear”Note4:TibetXinhaoTechnologyCo.,Ltd,asubsidiaryofthecompany,providedanequitypledgeguaranteeforNewHopeLiuheCo.,Ltdtosecure171.5millionYuanfinancingfromPostalSavingsBankofChinaChengduTianfuSub-branchwithallequitiesinRaoyangXinhaoFarmingCo.,Ltdasthepledge,ofwhich19.0556millionYuanwillbecomeduewithinayearandhasbeentransferredto“long-termborrowingsduewithinayear”.Note5:TibetXinhaoTechnologyCo.,Ltd,asubsidiaryofthecompany,providedanequitypledgeguaranteeforNewHopeLiuheCo.,Ltdtosecure85millionYuanfinancingfromPostalSavingsBankofChinaChengduTianfuSub-branchwithallequitiesinFuchengXinhaoFarmingCo.,Ltdasthepledge,ofwhich9.4444millionYuanwillbecomeduewithinayearandhasbeentransferredto“long-termborrowingsduewithinayear”.Note6:TibetXinhaoTechnologyCo.,Ltd,asubsidiaryofthecompany,providedanequitypledgeguaranteeforNewHopeLiuheCo.,Ltdtosecure102millionYuanfinancingfromPostalSavingsBankofChinaChengduTianfuSub-branchwith44.18%equitiesinHuanghuaXinhaoTechnologyasthepledge.Note7:TibetXinhaoTechnologyCo.,Ltd,asubsidiaryofthecompany,providedanequitypledgeguaranteeforNewHopeLiuheCo.,Ltdtosecure150millionYuanfinancingfromPostalSavingsBankofChinaChengduTianfuSub-branchwith39.34%equitiesinXiangzhouXinhaoFarmingTechnologyasthepledge.(2)Themortgageloansandassetmortgagesarepresentedasfollows:CollateralsOriginalbookvalueofcollateralAmountofmortgageloanLandandhousesofBeijingKingheyFoodCo.,Ltd44,613,867.2997,000,000.00LandandhousesofGuanghanGuoxiongandCenturyInvestment39,606,585.67130,000,000.00Total84,220,452.96227,000,000.00Note1:LaibinXinhaoFarmingCo.,Ltdsecured98millionYuanfinancingfromChinaDevelopmentBankGuangxiBranchwithlandandhousesofBeijingKingheyFoodCo.,Ltdascollaterals,ofwhich1millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note2:NewHopeLiuheCo.,Ltdsecured150millionYuanfinancingfromChinaDevelopmentBankSichuanBranchwithlandandhousesofGuanghanGuoxiongandCenturyInvestmentascollaterals,ofwhich20millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.(3)Thedetailsofguaranteedborrowingsarepresentedasfollows:NamesoftheguarantorandtheguaranteedEndingbalanceGuaranteeprovidedbyNewHopeLiuheCo.,LtdforBeijingKingheyFoodCo.,Ltd30,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforYanglingBesunAgriculturalIndustryGroupCo.,Ltd85,000,000.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd403GuaranteeprovidedbyNewHopeLiuheCo.,LtdforYantingXinhaoFarmingCo.,Ltd124,910,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforXiajinNewHopeLiuheFarmingCo.,Ltd98,430,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHubeiXinhaoFarmingCo.,Ltd136,742,971.36GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHuanghuaXinhaoTechnologyCo.,Ltd160,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd120,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforLiaochengXinhaoFarmingCo.,Ltd129,558,036.07GuaranteeprovidedbyNewHopeLiuheCo.,LtdforLaiyangXinhaoAnimalHusbandryCo.,Ltd194,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforTangshanXinhaoFarmingCo.,Ltd659,355,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHebeiXinhaoFuchengAgriculturalTechnologyCo.,Ltd124,500,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforDongeNewHopeLiuheSwineBreedingCo.,Ltd180,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHainanChangjiangXinliuBreedingCo.,Ltd45,500,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforLiaoningXinwangTechnologyCo.,Ltd492,401,600.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd30,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforChangyiXinhaoAnimalHusbandryCo.,Ltd79,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHainanLingaoXinliuBreedingCo.,Ltd80,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforYijunXinliuTechnologyCo.,Ltd165,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforCaoxianXinhaoFarmingCo.,Ltd243,429,704.73GuaranteeprovidedbyNewHopeLiuheCo.,LtdforNingmingXinhaoFarmingCo.,Ltd350,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforShenzeNewHopeLiuheBreedingCo.,Ltd176,003,334.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforWeinanXinliuTechnologyCo.,Ltd490,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforLaixiNewHopeLiuheFarmingCo.,Ltd108,014,538.83GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHezhouXinhaoFarmingCo.,Ltd180,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforGansuNewHopeLiuheFarmingCo.,Ltd75,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforBijieXinliuFarmingCo.,Ltd79,200,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforWulianXinhaoFarmingCo.,Ltd38,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforBeijingXinliuFarmingTechnologyCo.,Ltd110,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforWuheNewHopeLiuheAnimalHusbandryCo.,Ltd328,323,191.13GuaranteeprovidedbyNewHopeLiuheCo.,LtdforNewHopeSingaporePteLtd.212,385,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforSichuanNewHopeLiuheFarmingCo.,Ltd600,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforHengnanMuyunEco-agricultureCo.,Ltd80,000,000.00GuaranteeprovidedbyNewHopeLiuheCo.,LtdforShandongNewHopeLiuheGroupCo.,Ltd140,000,000.00Total6,144,753,376.12Note1:NewHopeLiuheCo.,LtdprovidedaguaranteeforYanglingBesunAgriculturalIndustryGroupCo.,Ltdtosecure100millionYuanfinancingfromAgriculturalBankofChinaYanglingDemonstrationAreaSub-branch,ofwhich15millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note2:NewHopeLiuheCo.,LtdprovidedaguaranteeforYantingXinhaoFarmingCo.,Ltdtosecure122.87millionYuanfinancingfromBankofChinaCo.,LtdChengduShudaoAvenueSub-branch,ofwhich3.96millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note3:NewHopeLiuheCo.,LtdprovidedaguaranteeforLiaochengXinhaoFarmingCo.,Ltdtosecure166.5746millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdYangguCountySub-branch,ofwhich37.0166millionYuanwillbecomeFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd404duewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note4:NewHopeLiuheCo.,LtdprovidedaguaranteeforNewHopeSingaporePteLtdtosecure37.50millionUSDfinancingfromInternationalFinanceCorporation,equivalenttoRMB265.4813millionYuan,ofwhich53.0963millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note5:NewHopeLiuheCo.,LtdprovidedaguaranteeforJiaxiangNewHopeLiuheSwineBreedingCo.,Ltdtosecure134.00millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdJiaxiangCountySub-branch,ofwhich140millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note6:NewHopeLiuheCo.,LtdprovidedaguaranteeforLaiyangXinhaoAnimalHusbandryCo.,Ltdtosecure197.00millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdLaiyangCitySub-branch,ofwhich3millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note7:NewHopeLiuheCo.,LtdprovidedaguaranteeforTangshanXinhaoFarmingCo.,Ltdtosecure273.00millionYuanfinancingfromChinaMerchantsBankCo.,LtdBeijingBeiyuanRoadSub-branchand387.00millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdTangshanFengnanSub-branch,ofwhich0.645millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note8:NewHopeLiuheCo.,LtdprovidedaguaranteeforHebeiXinhaoFuchengAgriculturalTechnologyCo.,Ltdtosecure130.50millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdGuchengCountySub-branch,ofwhich6.00millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note9:NewHopeLiuheCo.,LtdprovidedaguaranteeforDongeNewHopeLiuheSwineBreedingCo.,Ltdtosecure200.00millionYuanfinancingfromHangSengBank(China)Co.,LtdChengduBranch,ofwhich20.00millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note10:NewHopeLiuheCo.,LtdprovidedaguaranteeforHainanChangjiangXinliuBreedingCo.,Ltdtosecure49.00millionYuanfinancingfromChinaDevelopmentBankHainanBranch,ofwhich3.50millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note11:NewHopeLiuheCo.,LtdprovidedaguaranteeforLiaoningXinwangTechnologyCo.,Ltdtosecure494.00millionYuanfinancingfromChinaConstructionBankShenyangDadongSub-branch,ofwhich1.5984millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note12:NewHopeLiuheCo.,LtdprovidedaguaranteeforChangyiXinhaoAnimalHusbandryCo.,Ltdtosecure80.00millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdChangyiBranch,ofwhich1.00millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note13:NewHopeLiuheCo.,LtdprovidedaguaranteeforHainanLingaoXinliuBreedingCo.,Ltdtosecure85.00millionYuanfinancingfromChinaDevelopmentBankHainanBranch,ofwhich5.00millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note14:NewHopeLiuheCo.,LtdprovidedaguaranteeforShenzeNewHopeLiuheBreedingCo.,Ltdtosecure179.00millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdShenzeCountySub-branch,ofwhich2.9967millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note15:NewHopeLiuheCo.,LtdprovidedaguaranteeforLaixiNewHopeLiuheFarmingCo.,Ltdtosecure29.0092millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdLaixiSub-branchand79.7053millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdQingdaoShinanNo.3Sub-branch,ofwhich0.70millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note16:NewHopeLiuheCo.,LtdprovidedaguaranteeforBijieXinliuFarmingCo.,Ltdtosecure88.00millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdChengduTianfuSub-branch,ofwhich8.80millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note17:NewHopeLiuheCo.,LtdprovidedaguaranteeforWuheNewHopeLiuheAnimalHusbandryCo.,Ltdtosecure249.69millionYuanfinancingfromAgriculturalBankofChinaCo.,LtdWuheCountySub-branch,27.4835millionYuanfinancingFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd405fromAgriculturalBankofChinaCo.,LtdQingdaoShinanNo.3Sub-branchand51.1497millionYuanfinancingfromChinaMerchantsBankCo.,LtdHuainanSub-branch,ofwhich17.8850millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Note18:NewHopeLiuheCo.,LtdprovidedaguaranteeforSichuanNewHopeLiuheFarmingCo.,Ltdtosecure189.00millionYuanfinancingfromChinaDevelopmentBankSichuanBranchand420.00millionYuanfinancingfromExport-ImportBankofChinaSichuanBranch,ofwhich9.00millionYuanwillbecomeduewithinayearandhasbeentransferredtothe“long-termborrowingsduewithinayear”.Otherremarks,includingrangeofinterestrate:Therangeofinterestrateontheendinglong-termborrowingsofthecompanywas2.85%-4.75%.31.Bondspayable(1)BondspayableUnit:YuanItemEndingbalanceBeginningbalanceBondspayable-medium-termnotes1,993,572,194.40Bondspayable-convertiblebonds3,254,150,642.75Total5,247,722,837.15(2)Increaseordecreaseinbondspayable(excludingpreferredshares,perpetualbondsandotherfinancialinstrumentsclassifiedasfinancialliabilities)Unit:YuanBondnameNominalvalueDateissuedBondperiodIssuedamountBeginningbalanceCurrentlyissuedInterestaccruedatnominalvalueAmortizationofpremiumanddiscountCurrentlyrepaidEndingbalanceMedium-termnotes2,000,000,000.003/9/20203years1,992,800,000.001,992,800,000.0022,866,666.70772,194.401,993,572,194.40Convertiblebonds4,000,000,000.001/3/20206years3,986,000,000.003,178,181,843.814,000,000.0075,968,798.943,254,150,642.75Total------5,978,800,000.005,170,981,843.8126,866,666.7076,740,993.345,247,722,837.15(3)RemarksonconditionsandtimeofconversionintosharesforconvertiblecorporatebondsPeriodofconversionintoshares:fromthefirsttradingday(July9,2020)ofexpirationofsixmonthsofthedateofendofthisissueofconvertiblebonds(January9,2020,T+4days)tothematuritydateofconvertiblebonds(January2,2026,subjecttopostponementincaseofpublicholidays).Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd40632.Long-termpayablesUnit:YuanItemEndingbalanceBeginningbalanceLong-termpayables6,000,000.00Total6,000,000.00(1)Long-termpayablespresentedbynatureofamountUnit:YuanItemEndingbalanceBeginningbalanceFinancialleaseoutlayspayable6,000,000.00Wherein:financiallease-long-termpayables6,144,875.00Financiallease-unrecognizedfinancingcosts-144,875.00Total6,000,000.00Otherremarks:33.DeferredincomeUnit:YuanItemBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceCausesofformationGovernmentsubsidy285,525,426.8716,676,018.5013,785,166.21288,416,279.16Unrealizedincomeonsale-leaseback-726,839.32356,515.5321,556.64-391,880.43Sale-leasebackTotal284,798,587.5517,032,534.0313,806,722.85288,024,398.73--Itemsinvolvinggovernmentsubsidy:Unit:YuanItemsofliabilitiesBeginningbalanceCurrentamountofnewsubsidiesCurrentamountchargedtonon-businessrevenueCurrentamountchargedtootherincomeCurrentamountchargedagainstcostsandexpensesOtherchangesEndingbalanceAsset-related/income-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd407Studyofcomprehensivepreventionandcontrolofmaininfectiousdiseasesofpoultryandinternationalcooperationplatformconstructionproject384,154.8849,839.28334,315.60Asset-relatedResearchanddevelopmentofpackagedtechnologyandequipmentfortreatmentandrecyclingofdeadlivestockandpoultryandslaughteringwastes354,833.3842,000.0066,499.98330,333.40Asset-relatedFeedingredientsoyproteinconcentrate50,000.0050,000.00Income-relatedFeedingredientstonepowder50,000.0050,000.00Income-relatedProjectofintegrationanddemonstrationofenvironmentalcontrolfacilityandequipmentdevelopmentforaquaticpoultryhousing271,286.1631,782.40239,503.76Income-relatedRegulationandmechanismformedbydailyrationcompositionandfeedingsystemonhealthyandhigh-qualitymeatoflivestockandpoultry159,351.4044,800.00114,551.40Asset-relatedBreedingofnew-typecornsandsoybeansandassessmentofnutritionvalueoflivestockandpoultry300,000.00300,000.00Income-relatedSubsidyforboiler69,333.284,000.0265,333.26Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd408renovationofGuanghanGuoxiongProductivesubsidyforfinepigfeedofWulong59,999.8610,000.0249,999.84Asset-relatedSubsidyforboilerrenovationofQujingGuoxiong61,011.1261,011.12Asset-relatedRenovationofgas-firedboilersofHebeiHope133,333.308,333.34124,999.96Asset-relatedSubsidyfor0.30milliont/afeedprocessingplantprojectofBaojiFarming592,105.4413,157.88578,947.56Asset-relatedSubsidyfortechnicalrenovationofverticalsilosofBaojiHope87,553.781,287.5486,266.24Asset-relatedSubsidyforshopelectricalcontrolandcomputerizeddosingsystemofBaojiHope117,209.3214,651.16102,558.16Asset-relatedSpecialsubsidyforboilerrenovationofBaojiFarming128,000.087,999.98120,000.10Asset-relatedSubsidyforstandardizedfactorybuildingsofHuaihuaNewHope1,542,416.7820,749.981,521,666.80Asset-relatedLandsubsidyforHuanggangNewHope4,756,984.874,756,984.87Asset-relatedPreferentiallandsubsidyforXiangyangNewHope3,268,871.6034,591.203,234,280.40Asset-relatedSubsidyforengineeringtechnologyR&DcenterofJiangmenLiuhe315.69192.30123.39Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd409Rewardandsubsidyforlarge-sizedindustrialenterpriseR&DinstitutionofJiangmenLiuhe435,699.0064,714.00370,985.00Asset-relatedThe2019supportingfundingfortechnologydevelopmentofJiangmenLiuhe137,700.00137,700.00Income-relatedSubsidyforpost-disasterprojectsofSantaiFarming80,000.0030,000.0050,000.00Asset-relatedSubsidyforprojectconstructionofSantaiFarming400,000.00150,000.00250,000.00Asset-relatedSubsidyforenclosurewallsandroadsofSantaiFarming46,666.6017,500.3029,166.30Asset-relatedInterestsubsidiesforSantaiFarming641,666.89149,999.26491,667.63Asset-relatedSubsidyforstandardizedpigfarmconstructionofSantaiFarming683,333.23100,000.18583,333.05Asset-relatedSubsidyformajorpig-exportingcountyprojectofSantaiFarming212,500.0025,000.25187,499.75Asset-relatedSubsidyforakeymodernanimalhusbandryprojectofSantaiFarming267,760.4130,312.25237,448.16Asset-relatedSubsidyforpigfarmconstructionprojectofSantaiFarming132,292.0721,875.22110,416.85Asset-relatedSubsidyformanurerecyclingprojectofSantaiFarming309,318.50128,882.70180,435.80Asset-relatedSubsidyforinformationstationsof39,200.0039,200.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd410LeshanFarmingSubsidyforirrigationpumpingstationsonFenquanPigFarmofLeshanFarming10,312.502,812.257,500.25Asset-relatedSpecialfundingforlivepigindustrychainofLeshanFarming465,149.9536,809.17428,340.78Asset-relatedSpecialsubsidyforenvironmentalprotectionofXiajinFarming11,731,417.18234,628.3411,496,788.84Asset-relatedSpecialsubsidyforroadconstructionofXiajinFarming1,500,000.0449,999.891,450,000.15Asset-relatedSubsidyformajorpig-exportingcountyforLinyiSwineBreeding222,000.1118,499.98203,500.13Asset-relatedGovernmentsubsidyfortank-typetricyclesofLinyiSwineBreeding29,600.001,480.0228,119.98Asset-relatedGovernmentsubsidyforfermentationtanksofLinyiSwineBreeding79,340.003,967.0275,372.98Asset-relatedBoarstationconstructionprojectofRongchangPigFarm1,200,000.2849,999.981,150,000.30Asset-relatedSubsidyforsewagetreatmentplantprojectofRongchangPigFarm476,667.2717,500.04459,167.23Asset-relatedSubsidyforpigresourcesofRongchangPigFarm40,000.154,999.9035,000.25Asset-relatedSewagetreatmentsystemofJiangyouPigFarm294,552.3715,287.41279,264.96Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd411The“5.12”post-disasterreconstructionprojectofJiangyouPigFarm1,389,583.5457,499.901,332,083.64Asset-relatedLivepigindustrializationprojectofJiangyouPigFarm1,391,685.4672,219.231,319,466.23Asset-relatedProjectofkeytechnologyindustrializationforhealthybreedingoflivepigsanddeepprocessingofmeatproductsofJiangyouPigFarm416,666.70166,666.76249,999.94Asset-relatedGovernmentsubsidyforLingquanchanghigh-qualityproducesbasebrandingofJunanSwineBreeding205,917.0312,498.11193,418.92Asset-relatedSubsidyforHuang-Huai-HaiprojectofJunanSwineBreeding435,000.00435,000.00Asset-relatedSubsidyforLingquanchangshowroomofJunanSwineBreeding569,998.6115,000.00554,998.61Asset-relatedSubsidyforLingquanchangdigitalsystemmanagementandbreedingequipmentofJunanSwineBreeding775,004.8649,998.00725,006.86Asset-relatedHealthybreedingsubsidyforLingquanchanglivepigbusinessofJunanSwineBreeding1,384,958.784,380.001,380,578.78Asset-relatedThe2015moderndevelopmentfunding165,520.8339,570.00125,950.83Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd412projectofJunanSwineBreedingSubsidyforstandardizedbreedingoperationsofGaomiSwineBreeding300,353.7213,125.31287,228.41Asset-relatedSubsidyforconstructionofstandardized,large-scalelivepigbreedingfarminKuancheng101,666.1525,000.0076,666.15Asset-relatedSubsidyforbiogasprojectconstructiononKuanchengBreedingBase79,166.7125,000.0054,166.71Asset-relatedSubsidyforequipmentofbiogasprojectconstructiononKuanchengBreedingBase103,750.0025,000.0078,750.00Asset-relatedSubsidyforshoppingbasketprograminKuancheng116,666.7125,000.0091,666.71Asset-relatedLivepigprojectforshoppingbasketprograminKuancheng90,000.0015,000.0075,000.00Asset-relatedStandardized,large-scalelivepigbreedingfarmconstructionprojectinKuancheng120,000.0012,500.00107,500.00Asset-relatedSubsidyforcirculareconomydevelopmentinLinzhi454,666.7876,399.98378,266.80Asset-relatedProjectoflivepigqualitytraceabilityacrossindustrychainandepidemicdiseasepreventionandcontrol1,958,733.38124,800.001,833,933.38Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd413systemconstructionProjectofsafeandpollution-freedeepprocessingofpork1,000,000.001,000,000.00Asset-relatedProjectofgreenporkdeepprocessingandmeatproductsafetytestingcenter10,000,000.0010,000,000.00Asset-relatedProjectofcomprehensiveutilizationofpigfarmwastesandcleanproduction7,499,970.58250,200.007,249,770.58Asset-relatedIndustrysupportfundingfordemonstrationareasfornationalservicesectordevelopmentguidancefunding4,000,000.004,000,000.00Income-relatedProjectofharmlesstreatmentsystemfordeadorsickpigs4,000,000.004,000,000.00Asset-relatedColdstorageprojectoffoodprocessingplant2,000,000.002,000,000.00Asset-relatedProvincialmodernagriculturalparkspecialfundingproject4,291,666.78124,999.984,166,666.80Asset-relatedSubsidyforcleanwaterreservoirofYantingXinhao184,997.0010,002.00174,995.00Asset-relatedSubsidyforfertilesowsofLongkouSwineBreeding550,000.00300,000.00250,000.00Asset-relatedSubsidyforfertilesowsofHuairenFarming126,000.00126,000.00Asset-relatedSubsidyforlarge-sizedbiogasengineeringprojectof81,250.001,406,250.0075,000.001,412,500.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd414YantingXinhaoSubsidyformanuretreatmentandrecyclingprojectofYantingXinhao1,160,832.0061,002.001,099,830.00Asset-relatedIndustryDevelopmentFundofHuanghuaXinhao900,000.0045,000.00855,000.00Asset-relatedSubsidyfortalentedinnovatorsprojectofNewHopeFarmingunder“ChengduDriftersProgram”264,264.4696,000.00168,264.46Income-relatedFundingofYanglingDemonstrationAreaBureauofFinanceforEfficientandSafePigFeedProductionLineConstructionProject714,000.00714,000.00Asset-relatedBrandedmeatsalesnetworkconstructionproject300,000.0030,000.00270,000.00Asset-relatedProjectofreconstructionandexpansionof5000t/asafeandpollution-freeporkdeepprocessingplantinYanglingDemonstrationArea3,375,000.003,375,000.00Asset-relatedSubsidyforbreedingboarstationconstructionproject500,012.0449,998.00450,014.04Asset-relatedProjectofdemonstrativepigfarm250,000.00250,000.00Asset-relatedProjectofexpansionofstandard,large-sizedcommoditypigfatteningbase2,000,000.002,000,000.00Asset-relatedAnimaldisease1,500,000.001,500,000.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd415controlcenterconstructionprojectSubsidyforthedemonstrationprojectofpigletnursingtechnologyindustrialization60,000.144,999.9855,000.16Asset-relatedFundsforthepilotprogramofleadingcompaniesofagriculturalindustrializationdrivingindustrydevelopment2,640,000.0082,500.002,557,500.00Asset-relatedIndustrializationprojectofsafeandpollution-freedeepprocessingofpork2,800,000.002,800,000.00Asset-relatedShare-convertedfundsfor20000t/aorganicfertilizerplantproject1,045,000.0094,999.98950,000.02Asset-relatedFundsforstandardizedtransformationprojectofslaughteringcompanies800,000.00100,000.00700,000.00Asset-relatedSubsidyforLiangjiaheeco-friendlycommoditypigbreedingprojectinYanchuan31,776,592.13448,437.4831,328,154.65Asset-relatedSubsidyforeco-friendlypigbreedingprojectofZhidanDingxiang16,000,000.0016,000,000.00Asset-relatedProductivesubsidyfor20000t/abaggedorganicfertilizerand10000t/aliquidfertilizerplantprojectofYanglingBesun760,000.00760,000.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd416SubsidyforshrinkingnylonsausagecasingprojectofXinguofu955,868.1329,908.98925,959.15Asset-relatedIntelligentcentralkitchenindustrypublicsupplychainplatform585,000.00585,000.00Asset-relatedProjectofR&DanddemonstrationofpackagedequipmentofChinese-styledautomaticcentralkitchens450,000.00450,000.00Asset-relatedSubsidyforsewagetreatmentprojectofYishuiRefrigeration790,000.0030,000.00760,000.00Asset-relatedSubsidyforenergysavingandenvironmentalprotectionofYishuiRefrigeration35,440.001,248.0034,192.00Asset-relatedSubsidyforcoldchainlogisticsofBeijingKinghey4,912,090.95232,636.324,679,454.63Asset-relatedMonetaryrewardforenergysavingsofBeijingKinghey532,917.7665,255.28467,662.48Asset-relatedMonetaryrewardforcontributionofLiaoningKingheytomajorpig-exportingcounties1,000,000.15499,999.98500,000.17Asset-relatedSubsidyforcoldchainlogisticsofLiaoningKinghey1,224,999.86212,500.021,012,499.84Asset-relatedSubsidyforlivepigindustrializationprojectofHebeiKinghey800,000.04400,000.04400,000.00Asset-relatedSubsidyforsewagetreatmentprojectof599,999.9624,999.96575,000.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd417HebeiKingheySubsidyforboilerrenovationofHebeiKinghey101,250.0011,250.0090,000.00Asset-relatedLandgrantfeerebatetoJiaxiangFood9,676,042.88103,487.109,572,555.78Asset-relatedSubsidyforthemodernefficientanimalhusbandrydevelopmentprojectofJiaxiangRefrigeration606,666.6232,500.02574,166.60Asset-relatedSubsidyforcountrysiderevitalizationeffortsofJiaxiangRefrigeration2,632,804.0033,540.002,599,264.00Asset-relatedConcentratedheatcollectionsolarwaterheatingproject443,255.0132,430.00410,825.01Asset-relatedRefrigerationequipment—fiscalsubsidyforindustrializedoperationandcomprehensiveagriculturaldevelopmentofDechengDistrict,DezhouCity1,198,650.00117,900.001,080,750.00Asset-relatedSubsidyforboilerrenovationofDezhouJinshan74,400.007,440.0066,960.00Asset-relatedLandgrantfeerebatetoWeifangHeshengyuan2,726,935.8929,382.722,697,553.17Asset-relatedSubsidyformachineryandequipmentofWeifangHeshengyuan374,233.3521,799.98352,433.37Asset-relatedDutyrebateforimportedequipment678,032.3240,279.14637,753.18Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd418ofWeifangHeshengyuanBoilersubsidytoLaiwuRefrigeration40,000.0040,000.00Asset-relatedSubsidyforlow-nitrogenrenovationofgas(oil)-firedboilersofPorridgeJiahe244,000.0011,401.85232,598.15Asset-relatedSubsidyforrenewalofmotorvehiclesofBeijingKinghey16,000.0016,000.00Asset-relatedSubsidyfortechnicalrenovationoffixedassetsin20181,722,349.9793,100.021,629,249.95Asset-relatedCultivationandindustrializationdemonstrationof“Guoxiong”brandedbiologicalhigh-performancecompoundfeedforpigsandcompoundfeedforhigh-survival-rategrasscarpbreeding.165,000.1227,499.98137,500.14Asset-relatedIndustrializedapplicationofnew-type,safeandefficientpigfeed.59,999.7210,000.0249,999.70Asset-relatedPilotplanttestandindustrializationdemonstrationofnutritionregulationtechnologyforhealthypigbreeding12,000.281,999.9810,000.30Asset-relatedResearchandindustrializationofintegratedkeytechnologyforproductionofsafeandhigh-digestion-rate600,000.00600,000.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd419pigletfeedDevelopmentandproductionofmicroecologicsproductsofFenglanTechnology26,699.724,450.0222,249.70Asset-relatedDevelopmentandindustrializationofnew-typemicroecologicsandbiologicalfeed.1,130,100.57121,771.081,008,329.49Asset-relatedProjectoftransformationandapplicationofbiologicalextractionofLuteincrystalsbasedondriedmarigold70,356.357,353.1063,003.25Asset-relatedIndustrializedapplicationofLactobacilluscaseifeedadditive797.45598.14199.31Income-relatedSubsidyforshedconstructiononWuhanLiuheBreedingBase62,500.0062,500.00Asset-relatedResearchofrapididentificationandpreventionandcontroltechnologysystemfordrug-resistantbacteriatransmittedbetweenhumanandpoultrybasedonartificialintelligence710,000.00710,000.00Income-relatedSubsidyforenclosurewallsofMianyangNewHope70,000.0070,000.00Asset-relatedTechnicalrenovationproject—feedproductionlineprojectphaseIofNewHope559,375.0018,750.00540,625.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd420Industrydevelopmentfund—deepprocessingofagriculturalproducts1,893,229.1662,500.021,830,729.14Asset-relatedIndustrializedapplicationofkeytechnologyforhealthypigfarminganddeepprocessingofmeatsofSichuanXinke100,000.00100,000.00Asset-relatedDevelopmentandindustrializationofnew-typemicroecologicsandbiologicalfeed.500,000.00500,000.00Asset-relatedSubsidyforgasrenovationprojectofLuzhouNewHope134,671.629,415.02125,256.60Asset-relatedSpecialsubsidyforpigfeedinYulin204,166.4514,583.36189,583.09Asset-related600-typeunitsofpigfeedproductionlinesinGuilin114,750.00114,750.00Asset-relatedSubsidyforrenovationofhighly-pollutingfuel-firedboilersofGuangzhouHope96,000.047,999.9888,000.06Asset-relatedSubsidyformotorrenovationofGuangzhouHope100,201.6710,189.9890,011.69Asset-relatedDemonstrationofefficientbacteriaandalgaewastewaterrecyclingsystemandlow-resistancefeedproductsoptimizedbybigdata193,643.4457,846.75135,796.69Asset-relatedGuangdongProvincialModernAgriculturalIndustryTechnology50,000.003,845.2246,154.78Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd421SystemInnovationTeamBuilding(FeedIndustry)ProgramSubsidyforboilerrenovationofJieyangGuoxiong97,066.616,400.0290,666.59Asset-relatedSubsidyfortechnicalrenovationofbulkrawmaterialsproductionlineofHuaihuaXiangzhu29,200.002,800.0026,400.00Asset-relatedSubsidyforbridgeconstructioninJinzhou83,000.911,010.1081,990.81Asset-relatedLandsubsidyinJinzhou611,517.467,292.94604,224.52Asset-relatedSubsidyforboilerrenovationofHanzhongHope112,499.999,000.00103,499.99Asset-relatedSubsidyforrenovationofgas-firedboilersofWuweiHope59,333.234,000.0255,333.21Asset-relatedSubsidyforrenovationofgas-firedboilersofLanzhouHope151,666.5710,000.02141,666.55Asset-relatedSubeitechnologyspecialsubsidyforHuaianHope500,000.00500,000.00Asset-relatedSubsidyfortechnicalrenovationprojectofCenturyInvestment991,666.6285,000.02906,666.60Asset-relatedAnimalhusbandrytechnologylaboratoryrenovationproject400,000.00400,000.00Asset-relatedResearchandapplicationofkeytechnologyofefficientutilizationofproteinfeedresources190,000.00190,000.00Income-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd422Feedindustryanalysisandtestingplatform38,000.0038,000.00Asset-relatedLivestockandpoultryproductqualityandsafetycontrollaboratoryproject1,000,000.001,000,000.00Asset-relatedTheChengduDriftersprogramofAnimalHusbandryTechnology750,000.00750,000.00Income-relatedZhugeEliteProgram1,800,000.001,800,000.00Income-relatedConstructionandintegratedapplicationofsafe,efficientbiologicalfeedtechnologysystem1,250,000.001,250,000.00Asset-relatedMonetaryrewardforcontributionofZiyangFarmingtomajorpig-exportingcounties154,300.0020,349.96133,950.04Asset-relatedSubsidyforshoppingbasketprogramofZiyangFarming263,200.1618,399.96244,800.20Asset-relatedSpecialgrantforapplicationresearchofproteincross-linkingtechnologyinmeatprocessingbyNewHopeFood.125,797.5230,191.4095,606.12Asset-relatedLivepigindustrializationprojectofNewHopeFarming246,327.8986,939.28159,388.61Asset-relatedIntegrationandindustrializationofcomprehensivetechnologiesfordeepprocessingofhigh-qualityporkandcoldchainstorageandtransport311,880.0851,979.98259,900.10Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd423FundsforthesecondbatchofprojectsforindustrialeconomicdevelopmentinoutersuburbsofChengdu788,647.2836,231.90752,415.38Asset-relatedAkindofgrainsausageanditspreparationmethod63,333.2610,000.0253,333.24Asset-relatedResearch,developmentandapplicationofenzymeresistantstarchrecoverytechnologyandnewproductsforhigh-endmeatproducts383,580.0063,930.00319,650.00Asset-relatedResearchandindustrializationofkeytechnologyforquickfrozenpreparedfoodprocessing13,500.004,500.009,000.00Income-relatedSubsidyforyakindustrychainproject1,450,300.00146,200.001,304,100.00Asset-relatedResearchandindustrializationofkeytechnologyforquickfrozen,preparedflour-coveredfoodprocessing56,966.8713,979.7542,987.12Income-relatedAkindofmicrowavepre-friedwrappingpulpandthemethodforprocessingdelisusingsuchwrappingpulp100,000.00100,000.00Asset-relatedSubsidyorAbayakbreedingbase326,287.0016,631.76309,655.24Asset-relatedSubsidyforswagetreatmentprojectofAbayakbreedingbase109,808.3319,999.9889,808.35Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd424Technicalrenovationofcattleandsheepslaughteringproductionline137,203.464,714.68132,488.78Asset-relatedHigh-qualityforagegrassdemonstrationbase53,894.007,185.8446,708.16Asset-relatedSubsidyforSouthwestUniversityforNationalities435,400.00289,200.00146,200.00Income-relatedIntegrationanddemonstrationoftechnicalinnovationsforsafemeatcattleproduction878,000.00146,333.35731,666.65Asset-relatedSpecialfundingofShanxianLiuheFeedCo.,Ltforwesterntalentprogram700,000.00646,086.1553,913.85Income-relatedPremiumfuelsubsidyforWuhanGuoxiong329,333.2819,000.02310,333.26Income-relatedSubsidyforfarmingmachineryofXiajinBreeding68,122.559,082.9859,039.57Asset-relatedSubsidyforfarmingmachineryofLinmuSwineBreeding150,000.004,090.92145,909.08Asset-relatedSubsidyforboarstationofXiaoxianSwineBreeding89,166.714,999.9884,166.73Asset-relatedSubsidyforintroductionofbreedstoXiaoxianSwineBreeding203,700.0028,291.65175,408.35Asset-relatedSubsidyforfermentationvatsofLiaochengXinhao867,550.0043,377.50824,172.50Asset-relatedSubsidyforagriculturalprojectofTangshanXinhao1,300,000.0016,250.001,283,750.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd425ConstructionsubsidytoYijunXinliu2,450,000.002,450,000.00Asset-relatedSubsidyforpigbreedingofTaianXinchi200,000.005,555.56194,444.44Asset-relatedExpansionof60000t/achickenproductionlineandbaseconstructionofXiaoyiFood2,319,047.602,319,047.60Asset-relatedSubsidyforcapitalconstructionprojectofXiaoyiFood766,665.72766,665.72Asset-relatedSubsidyforlabsofXiaoyiFood1,899,999.981,899,999.98Asset-relatedSubsidyforfixedassetsofZhengzhouQuanshengBreedingFarm2,625,000.00129,166.662,495,833.34Asset-relatedYakslaughteringproductionlineprojectofHongyuanYak650,000.00325,000.02324,999.98Asset-relatedGovernmentsubsidyforpuffingunits974,900.00487,450.00487,450.00Asset-relatedSubsidyfortechnicalrenovation1,047,400.001,047,400.00Asset-relatedProductionlinecapacityexpansion420,000.004,375.00415,625.00Asset-relatedInfrastructureconstructioncostsofHenanLiuheFeedCo.,Ltd2,654,967.3033,893.342,621,073.96Asset-relatedSubsidyfortechnicalrenovationofboilersofHenanLiuheFeedCo.,Ltd58,434.854,173.9054,260.95Asset-relatedLandgrantfeerebatetoHenanLiuheFeedCo.,Ltd2,077,700.3126,299.982,051,400.33Asset-relatedLandgrantfeerebate2,536,999.8229,500.022,507,499.80Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd426toGaotangLiuheRongdaFeedCo.,LtdLandgrantfeerebatetoAnyangNewHopeLiuheFeedCo.,Ltd1,635,223.0222,097.641,613,125.38Asset-relatedLandgrantfeerebatetoShanxianLiuheFeedCo.,Ltd8,360,000.2294,999.988,265,000.24Asset-relatedCounterpartfundingforinfrastructureconstructionofHubeiTuanfengNewHopeFeedCo.,Ltd216,945.0023,666.64193,278.36Asset-relatedCounterpartfundingforinfrastructureconstructionofPingxiangNewHopeFeedCo.,Ltd4,550,833.404,550,833.40Asset-relatedLandgrantfeerebatetoJinanNewHopeLiuheFeedCo.,Ltd5,647,433.0570,300.025,577,133.03Asset-relatedLandgrantfeerebatetoTaiheNewHopeFarmingTechnologyCo.,Ltd1,038,188.0047,184.00991,004.00Asset-relatedLandgrantfeerebatetotoZouchengNewHopeLiuheFeedCo.,Ltd2,746,478.8831,690.142,714,788.74Asset-relatedLandcompensationforFuyangLiuheFeedCo.,Ltd3,596,324.4342,104.463,554,219.97Asset-relatedCounterpartfundingforinfrastructureconstructionofDaqingLiuheFeedCo.,Ltd4,703,700.00200,000.004,503,700.00Asset-relatedScientificresearchfundingforfermentationequipmentof159,722.4113,888.86145,833.55Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd427HongyuanFeedSubsidyforboilerrenovationofShangheLiuhe211,111.0616,666.68194,444.38Asset-relatedGuaranteebusinesssupportfundforLinyiGuarantee125,848.70125,848.70Income-relatedLandsubsidytoQingdaoTianrunFoodCo.,Ltd2,137,254.5226,549.762,110,704.76Asset-relatedResearch,developmentandindustrializeddemonstrationofkeytechnologyforformulationoflow-emissionfeedforaquaticpoultry804,062.15804,062.15Asset-relatedDemonstrationofharmlesstreatmentofbreedingwastesbyenzymicpreparationsandmicroecologics9,684.009,684.00Income-relatedRevisionofstandardsforhydrolyzedfeathermealusedforfeed24,067.0024,067.00Income-relatedAutomatedchemiluminescence-basedpoultrymeatdrugresiduedetectionandtestprojectteam134,887.41134,887.41Income-relatedIntegrateddemonstrationofhigh-performancefeedcreationandmodernhigh-qualitypoultryproductiontechnology17,430.7417,430.74Income-relatedTechnicalcenterinnovationcapacitybuildingproject814,354.81124,678.00689,676.81Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd428MethodforquickdetectionofUrea-formaldehydepolymerinfishmeal23,085.001,320.7521,764.25Asset-relatedResearchandapplicationoffeedqualitysafetycontrolandrapiddetectiontechnology33,235.442,738.0730,497.37Income-relatedResearchofmolecularmechanismofresistanceofplantpolyphenolstooxidativestressofbroilers80,000.0080,000.00Income-relatedDeterminationofacidsolubleproteinsinfeedingredients4,429.494,429.49Income-relatedDemonstrationandpromotionoffoot-and-mouthdiseasedecontaminationonswinebreedingfarms161,760.4122,410.26139,350.15Income-relatedProjectofintegrationandindustrializationdemonstrationofkeytechnologiesfor3000t/amarinebiologicalproductsforagriculturaluse80,068.96120,000.0017,100.00182,968.96Income-relatedUseoffermentationtechnologytodegrademycotoxinsinfeedingredientsforprawns(specialproject)46,260.383,000.0043,260.38Income-relatedResearchofimmunizationprogramforswinefeverandpseudorabiesonlarge-scaledpigfarms78,306.3028,799.9749,506.33Income-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd429(specialproject)Researchofenvironment-friendlyandantimicrobial-freefeedformulationtechnologyformeatpoultry(specialproject)2,311,707.39516,401.581,795,305.81Income-related“China-EUintergovernmentalcooperationprogram”-EUHorizonSFS-46-2017(specialproject)635,046.49200,000.0012,240.71822,805.78Income-relatedFiscalsubsidyforstandardizedecologicalconstructionproject2,298,611.2141,666.642,256,944.57Asset-relatedFundsforwhitegoosespeciespreservationprograminwestofAnhui280,000.00280,000.00Asset-relatedFundsforspecialconservationofrareanimalspeciesincludingwhitegooseinwestofAnhui460,000.00460,000.00Asset-relatedSubsidyforinfrastructureconstructionofTonglingHuaren2,379,652.5085,863.752,293,788.75Asset-relatedLandgrantfeerebatetoLaotingLiuheXinmeiziFoodCo.,Ltd11,200,000.00420,000.0010,780,000.00Asset-relatedSubsidyforlivestockandpoultrymanuretreatmentandrecyclingproject2,940,000.0048,998.822,891,001.18Asset-relatedSpecialsubsidyforlanduseinLaoting3,219,128.8637,215.363,181,913.50Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd430SpecialsubsidyforlanduseinWeifang5,343,212.2961,181.835,282,030.46Asset-relatedSubsidyforlabrenovationinDengmai,Hainan79,775.2179,775.21Asset-relatedSpecialsubsidyforpigfeedinDengmai,Hainan18,866.3018,866.30Asset-relatedSubsidyforboilermanagementinZunhua96,000.208,000.0288,000.18Asset-relatedChickenandpigintestinalhealthregulationandantibioticsreplacementtechnologypatentnavigationproject(specialproject)36,792.4636,792.46Asset-relatedResearchanddevelopmentofenvironment-friendlyandhealthybreedingmodelsandproductsforlivestockandpoultry(specialproject)297,090.00297,090.00Asset-relatedScientificandTechnologicalAdvancementReward201850,000.0050,000.00Asset-relatedLandgrantfeerebatetoFuxinLiuheFarmingCo.,Ltd5,481,061.9658,725.605,422,336.36Asset-relatedNationalaquaticpoultrytechnologysystemconstructionproject(specialproject)187,500.00187,500.00Income-relatedBoilerrenovationofHongyuanFeed178,600.00178,600.00Asset-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd431Researchofmicrobiologicaldegradationtechnologyformycotoxinsinprawnfeedingredients—ShandongProvince(specialproject60,000.0060,000.00Income-relatedLeadingtalentedindustrypractitionersinTaishan---promotionofkeytechnologyforselectionandbreedingofimportanteconomictraitsofmeatducksandcultivationofnewstrains(specialproject)600,000.00600,000.00Income-relatedResearch,developmentandapplicationofnewveterinarydrugsandnewadditivesofbacteriophageforsuperbacteria(specialproject)200,000.00200,000.00Income-relatedPilotprogramofinnovationinfinancialsupportforagriculture2019ofPuhuiGuarantee980,000.00980,000.00Income-relatedMonetaryrewardtoSheyangLiuheforadvancedmanufacturingindustrydevelopment502,800.00502,800.00Income-relatedMonetaryrewardtoSheyangLiuhefortenpoliciesoncooperative150,000.00150,000.00Income-relatedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd432innovationResearchandindustrializationpromotionofkeytechnologiesofenvironment-friendly,antimicrobial-freefeedforswineandpoultryofWeifangNewHope2,720,000.002,720,000.00Income-relatedResearchandindustrializationofkeytechnologiesofefficientandenvironment-friendlylayinghenfeedofWeifangNewHope200,000.00200,000.00Income-relatedTotal285,525,426.8716,676,018.5013,689,166.2196,000.00288,416,279.16Thecompanyshallcomplywiththedisclosurerequirementssetforthin“ShenzhenStockExchange’sIndustryInformationDisclosureGuidanceNo.1---ListedCompaniesEngagedinLivestock,PoultryandAquacultureBusinesses”.Otherremarks:34.SharecapitalUnit:YuanBeginningbalanceCurrentincreaseordecrease(+,-)EndingbalanceNewsharesissuedBonussharesProvidentfundconvertedintosharesOthersSubtotalTotalshares4,216,015,009.004,216,015,009.00Otherremarks:35.Otherequityinstruments(1)Basicinformationaboutpreferredshares,perpetualbondsandotherfinancialinstrumentsissuedandoutstandingattheendofperiodWiththeapprovalofCSRCthroughthe‘regulatorypermit[2019]No.1902”,thecompanypubliclyissued40millionconvertiblecorporatebondswithparvalueof100YuaneachonJanuary3,2020,foratotalissuedamountof4billionYuan.WiththeconsentofShenzhenStockExchangethroughthedocument“Shenzhengshang[2020]No.60”,thecompany’s4billionYuanconvertiblecorporatebondswerelistedfortradingonSZSEasofFebruary4,2020,underthebondabbreviation“HopeFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd433ConvertibleBonds”andbondcode“127015”.ThestartandenddatesoftheexistenceofconvertiblecorporatebondsarefromJanuary3,2020toJanuary2,2026,andthestartandenddatesofconversionintosharesarefromJuly9,2020toJanuary2,2026.(2)Statementofchangestopreferredshares,perpetualbondsandotherfinancialinstrumentsissuedandoutstandingattheendofperiodUnit:YuanFinancialinstrumentsissuedandoutstandingBeginningCurrentincreaseCurrentdecreaseEndingAmountBookvalueQuantityBookvalueQuantityBookvalueQuantityBookvalueHopeConvertibleBonds40,000,000807,818,156.1940,000,000807,818,156.19Total40,000,000807,818,156.1940,000,000807,818,156.19Remarksonthecurrentincreaseordecreaseinotherequityinstruments,causesofchangesandbasisofrelatedaccountingtreatment:Thisyear’sincreaseinotherequityinstrumentsconsistsentirelyoftheamountof“equitycomponent”oftheconvertiblecorporatebondsissuedbythecompanythatshouldberecognizedaccordingtotherelatedrequirementsofthe“EnterpriseAccountingStandardNo.37—PresentationofFinancialInstruments”.TheissuedparvalueofconvertiblebondsissuedthisyearisRMB4billionYuan,orRMB3.986billionYuanafterdeductionofthedirectlyrelatedissuecosts;wherein,the“liabilitycomponent”isinitiallymeasuredatRMB3.178billionYuanafterbeingdiscountedbyreferencetotheopenmarketconditionsanditsownbusinesscharacteristics;therecognized“equitycomponent”oftheremainingpartisinitiallymeasuredatRMB808millionYuan.The“liabilitycomponent”issubsequentlymeasuredusingtheeffectiveinterestratemethod.Otherremarks:36.CapitalreserveUnit:YuanItemBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceCapitalpremium(sharecapitalpremium)862,673,985.99502,560,256.562,925,807.871,362,308,434.68Othercapitalreserves1,644,916,554.7318,622,639.811,663,539,194.54Wherein:changesinotherequitiesininvestees1,619,918,039.822,254,986.001,622,173,025.82Provisionfordonatednon-cashassetsreceived2,544,124.592,544,124.59Others22,454,390.3216,367,653.8138,822,044.13Total2,507,590,540.72521,182,896.372,925,807.873,025,847,629.22Otherremarks,includingremarksoncurrentincreaseordecreaseandcauseofchange:Thecurrentincreaseincapital(sharecapita)premiumisthe502,560,256.56Yuaneffectoncapitalreserveduetoacceptanceofexternalinvestmentsbysubsidiaries,whilethecurrentdecreaseis2,925,807.87Yuaneffectoncapitalreserveduetoacquisitionofminorityequitiesinsubsidiaries.Thecurrentincreaseinothercapitalreservesisthe16,367,653.81YuancapitalreservechargedtoownershipinterestduetoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd434share-basedpaymentinthecompany’sequityincentiveandtheshareofthecompanyinthecapitalreservechangesofChinaMinshengBankingCorp.,accountedforunderequitymethod,ascalculatedbythecompanyattheshareholdingratio.37.TreasurysharesUnit:YuanItemBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceTreasuryshares—purchasepriceforsharerepurchase611,317,618.59611,317,618.59Total611,317,618.59611,317,618.59Otherremarks,includingremarksoncurrentincreaseordecreaseandcauseofchange:38.OthercomprehensiveincomeUnit:YuanItemBeginningbalanceCurrentamountincurredEndingbalanceCurrentamountincurredbeforeincometaxMinus:previouslychargedtoothercomprehensiveincomeandcurrentlytransferredtoprofitandlossMinus:previouslychargedtoothercomprehensiveincomeandcurrentlytransferredtoretainedearningsMinus:incometaxexpenseAfter-taxamountattributabletoparentcompanyAfter-taxamountattributabletominorityshareholdersI.Othercomprehensiveincomethatcannotbesubsequentlyreclassifiedintoprofitandloss997,896.00-1,043,975.00-782,981.25-260,993.75214,914.75Othercomprehensiveincomethatcannotbetransferredtoprofitandlossunderthe997,896.00-1,043,975.00-782,981.25-260,993.75214,914.75Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd435equitymethodII.Othercomprehensiveincomethatwillsubsequentlybereclassifiedintoprofitandloss.-42,560,401.82-128,102,160.97-110,288,190.77-17,813,970.20-152,848,592.59Wherein:othercomprehensiveincomethatcanbetransferredtoprofitandlossundertheequitymethod67,959,010.05-72,076,034.00-54,057,025.50-18,019,008.5013,901,984.55Foreigncurrencystatementtranslationdifference-110,519,411.87-56,026,126.97-56,231,165.27205,038.30-166,750,577.14Totalothercomprehensiveincome-41,562,505.82-129,146,135.97-111,071,172.02-18,074,963.95-152,633,677.84Otherremarks,includingontheadjustmentstotheinitiallyrecognizedamountsoftheeffectiveportionofcashflowhedgingprofitandlosstransferredtothehedgeditems39.SurplusreserveUnit:YuanItemBeginningbalanceCurrentincreaseCurrentdecreaseEndingbalanceStatutorysurplusreserve2,400,778,310.95451,609.792,400,326,701.16Total2,400,778,310.95451,609.792,400,326,701.16Remarksonsurplusreserve,includingonthecurrentincreaseordecreaseandcausesofchange:Thedecreaseinsurplusreserveisthe451,609.79Yuanshareofthecompanyreducedalongwithsubsidiariesatthetimeofdisposalofsubsidiaries.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd43640.UndistributedprofitsUnit:YuanItemCurrentamountPrior-periodamountUndistributedprofitinpriorperiodbeforeadjustment17,590,186,212.3012,997,313,375.41Totalbeginningundistributedprofitsadjusted(increase+,decrease-)-31,138,927.47Beginningundistributedprofitsafteradjustment17,590,186,212.3012,966,174,447.94Plus:netprofitsattributabletoparentcompany'sownerincurrentperiod3,163,865,460.001,561,855,272.77Minus:legalsurplusreserveaccrued-451,609.79-8,569,210.31Dvidendspayableonordinaryshares621,563,432.85124,285,434.57Othercomprehensiveincomecarriedforwardtoretainedearnings-69,837.75Undistributedprofitsattheendofperiod20,132,939,849.2414,412,383,334.20Breakdownofadjustmentstobeginningundistributedprofits:1)TheeffectofretrospectiveadjustmentsduetotheEnterpriseAccountingStandardsanditsnewrelatedprovisionsonthebeginningundistributedprofitswas0.00Yuan.2)Theeffectofchangestoaccountingpoliciesonbeginningundistributedprofitswas0.00Yuan.3)Theeffectofcorrectionsofsignificantaccountingerrorsonthebeginningundistributedprofitswas0.00Yuan.4)Theeffectofchangetoscopeofconsolidationduetocommoncontrolonthebeginningundistributedprofitswas0.00Yuan.5)Thetotaleffectofotheradjustmentsonthebeginningundistributedprofitswas0.00Yuan.41.BusinessrevenueandoperatingcostsUnit:YuanItemCurrentamountincurredPrior-periodamountincurredRevenueCostRevenueCostMainbusiness44,534,971,060.7438,626,816,510.6535,180,937,507.4931,941,513,700.02Otherbusinesses161,069,303.34256,410,207.10113,361,443.7768,985,696.83Total44,696,040,364.0838,883,226,717.7535,294,298,951.2632,010,499,396.85Revenue-relatedinformation:Informationrelatedtoperformanceobligations:NoneInformationrelatedtotransactionpricesallocatedtoremainingperformanceobligations:Theamountofrevenuecorrespondingtoperformanceobligationsalreadycontractedbutnotyetperformedorcompletedattheendofthisreportingperiodis1,730,365,985.17Yuan,ofwhich1,730,365,985.17Yuanisexpectedtoberecognizedin2020.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd437Otherremarks42.TaxesandsurchargesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredUrbanmaintenanceandconstructiontax4,589,853.603,529,159.18Educationalsurcharge2,384,144.901,827,108.01Resourcetax2,624,897.672,074,523.34Realestatetax19,631,432.8516,550,843.00Landusetax21,640,280.0222,103,566.99Vehicleandvesselusetax360,383.7540,301.42Stampduty22,200,027.8214,313,698.85Localeducationalsurcharge1,576,957.261,246,571.83Environmentalprotectiontax1,114,953.111,073,713.27Waterconservancyfund1,661,550.251,110,329.20Others-155,546.75648,897.29Total77,628,934.4864,518,712.38Otherremarks:43.SellingexpensesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredPayroll523,754,315.04488,152,170.21Officecosts2,158,340.042,090,510.99Travelexpenses35,248,716.7952,347,474.51Postandtelecommunicationexpenses2,218,861.011,827,136.24Machineandmaterialsconsumption2,390,863.821,715,618.20Amortizationoflow-valueconsumables75,243.65115,645.22Depreciationexpenses3,640,627.033,782,887.23Rentalexpenses3,923,292.426,112,507.55Laborprotectionexpenses1,062,626.91321,094.57Transportationexpenses8,098,548.8815,227,950.56Conferenceexpenses2,593,251.894,554,234.69Waterandelectricityexpenses204,100.14317,979.69Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd438Transportcosts214,397,658.72Inspectionandquarantineexpenses888,646.93969,621.96Advertisingexpenses1,067,627.38741,921.62Publicityexpenses14,165,370.1317,632,829.10After-salesserviceexpenses6,011,306.235,313,220.37Handlingexpenses7,047,662.414,518,283.56Warehousingexpenses9,260,052.845,005,829.33Marketmanagementexpenses20,539,550.1921,911,307.39Returnlossexpenses215,839.633,147,186.66Amortizationofrevolvingmaterials726,621.05429,353.30Others0.002,260,506.35Total645,291,464.41852,892,928.02Otherremarks:44.ManagementexpensesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredPayroll871,138,774.60634,921,486.42Officecosts31,463,045.8023,338,636.72Travelexpenses47,733,888.8239,259,000.36Postandtelecommunicationexpenses11,164,915.589,297,952.69Machineandmaterialsconsumption35,176,886.1010,857,883.44Amortizationoflow-valueconsumables12,565,165.513,978,353.34Depreciationexpenses104,226,138.3584,208,236.53Rentalexpenses82,985,034.0244,880,775.58Laborprotectionexpenses14,359,588.023,323,710.64Repaircosts34,774,438.4427,660,714.42Propertyinsurancecosts29,577,699.8518,460,954.39Transportationexpenses22,768,088.5412,506,870.53Membershipduesandconferenceexpenses9,629,313.186,716,211.47Waterandelectricityexpenses24,655,415.0322,606,862.35Businessentertainmentexpenses29,377,001.5528,856,004.01Intermediaryfees107,069,032.3561,072,982.03Inventoryloss,destructionandscrapping11,925,673.811,859,762.63Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd439Environmentalprotectionfee12,599,441.7010,548,200.23Trademarkroyalties3,379,247.64Amortizationofintangibleassets33,088,733.4330,143,725.44Amortizationoflong-termunamortizedexpenses43,217,478.378,912,053.08Inspectionandtestfees12,584,358.776,823,290.40Startupcosts4,572,920.22647,031.63Taxesandcharges2,731,425.852,427,573.58Expensesofboardofdirectors416,329.04839,740.70Heatingexpenses3,841,497.402,724,760.67Mutualfundforbreeding8,524,076.267,774,114.35Equityincentiveexpenses14,310,311.980.00Others859,320.127,633,439.48Total1,620,715,240.331,112,280,327.11Otherremarks:45.R&DspendingUnit:YuanItemCurrentamountincurredPrior-periodamountincurredPayroll59,513,017.5245,365,194.38Officecosts211,064.48310,869.58Travelexpenses2,664,144.974,125,602.07Postandtelecommunicationexpenses183,055.79197,199.68Directmaterials20,791,770.327,612,888.51Fuelandpower324,506.94293,055.64Costsofdevelopmentandmanufactureoftoolsandmolds46,028.37113,807.58Pilotplanttestcosts242,770.49762,680.28Onsitetestcosts26,922.2542,870.66Debuggingandmaintenancecosts478,688.01510,657.55Inspectionandtestfees2,681,995.541,057,473.43Laborprotectionexpenses18,363.9819,670.99Transportationexpenses119,727.01128,706.32Laborcosts406,099.83832,081.07Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd440Trainingcosts28,790.0015,976.30Designfee158,655.271,139.92Expertconsultingfee3,453,708.21999,375.10Cooperativedevelopmentcosts119,331.29720,962.79Demonstration,reviewandacceptancefees26,400.00IPaffairsexpenses822,303.08478,762.13Meetingexpenses500,668.63646,810.12Depreciationexpenses2,544,939.673,208,904.14Rentalexpenses3,416,179.762,445,502.05Amortizationofintangibleassets1,495,415.73457,815.49Equityincentiveexpenses2,182,353.83Intermediaryfees106,106.23Amortizationoflong-termunamortizedexpenses1,205,479.38Others120,684.06250,935.55Total103,889,170.6470,598,941.33Otherremarks:46.FinancialexpensesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredInterestexpenditure507,683,759.99215,333,401.06Minus:interestrevenue87,768,232.5930,456,978.09Exchangeloss239,819,275.58152,749,482.40Minus:exchangeincome249,627,755.38162,189,607.41Others21,248,548.768,689,951.08Total431,355,596.36184,126,249.04Otherremarks:47.OtherincomeUnit:YuanSourceofotherincomeCurrentamountincurredPrior-periodamountincurredAmortizationofdeferredincome13,689,166.2110,590,785.33Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd441Others52,374,873.8025,628,146.13Total66,064,040.0136,218,931.4648.InvestmentincomeUnit:YuanItemCurrentamountincurredPrior-periodamountincurredIncomeonlong-termequityinvestmentsaccountedforundertheequitymethod1,247,082,435.861,415,671,574.32Investmentincomefromdisposaloflong-termequityinvestments1,247,332.59-2,300,968.55Investmentincomeonheld-for-tradingfinancialassetsduringtheholdingperiod-1,118.62Investmentincomefromdisposalofheld-for-tradingfinancialassets-7,472,161.95-10,158,884.70Dividendrevenuefromotherequityinstrumentinvestmentsduringtheholdingperiod350,000.00Others6,750,684.93Total1,241,206,487.881,409,962,406.00Otherremarks:49.IncomefromchangeinfairvalueUnit:YuanSourceofincomefromchangeinfairvalueCurrentamountincurredPrior-periodamountincurredHeld-for-tradingfinancialassets-350,592.337,021,566.37Wherein:incomefromchangeinfairvalueofderivativefinancialinstruments-350,592.337,021,566.37Held-for-tradingfinancialliabilities-3,761,357.30-7,082,568.17Total-4,111,949.63-61,001.80Otherremarks:50CreditimpairmentlossUnit:YuanItemCurrentamountincurredPrior-periodamountincurredBaddebtlossfromotherreceivables6,419,576.36-3,057,723.91Baddebtlossfromaccountsreceivable-53,720,249.29-36,233,435.95Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd442Total-47,300,672.93-39,291,159.86Otherremarks:51.AssetimpairmentlossUnit:YuanItemCurrentamountincurredPrior-periodamountincurredII.Lossoninventoryrevaluationandimpairmentlossofcontractperformancecost-2,543,335.51-28,213,568.78VII.Impairmentlossofworksinprogress-12,215.10Total-2,555,550.61-28,213,568.78Otherremarks:52.IncomefromassetdisposalUnit:YuanSourceofincomefromassetdisposalCurrentamountincurredPrior-periodamountincurredIncomefromdisposaloffixedassets7,936,565.075,034,188.39Incomefromdisposalofproductivebiologicalassets-82,291,393.32-45,581,115.38Incomefromdisposalofintangibleassets9,207,680.102,230,298.70Total-65,147,148.15-38,316,628.2953.Non-businessrevenueUnit:YuanItemCurrentamountincurredPrior-periodamountincurredAmountchargedtocurrentnon-recurringprofitandlossPenaltyincome8,084,332.324,118,436.378,084,332.32Gainsoninventorytaking908,166.5494,755.01908,166.54Payablesthatcannotbepaid13,269,044.597,436,521.7513,269,044.59Revenuefrominsuranceindemnities9,055,923.243,029,859.029,055,923.24Others75,522.305,462,239.2775,522.30Total31,392,988.9920,141,811.4231,392,988.99Otherremarks:Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd44354.Non-businessexpenditureUnit:YuanItemCurrentamountincurredPrior-periodamountincurredAmountchargedtocurrentnon-recurringprofitandlossExternaldonations18,861,738.864,349,763.4918,861,738.86Totallossfromscrappinganddestructionofnoncurrentassets31,097,017.9213,567,167.3131,097,017.92Wherein:lossfromscrappinganddestructionoffixedassets2,427,098.571,372,093.862,427,098.57Lossfromscrappinganddestructionofproductivebiologicalassets28,669,919.3512,190,531.7928,669,919.35Lossfromdisposalofintangibleassets4,541.66Penaltyexpenses870,433.881,341,694.34870,433.88Indemnities/liquidateddamages6,509,111.3112,004,868.356,509,111.31Extraordinarylosses85,165,464.1781,939,225.6885,165,464.17Lossoninventorytaking915,162.39666,512.10915,162.39Others75,234.346,240,014.1475,234.34Total143,494,162.87120,109,245.41143,494,162.87Otherremarks:55.Incometaxexpenses(1)StatementofincometaxexpensesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredCurrentincometaxexpense160,161,926.86148,617,952.64Deferredincometaxexpense11,107,612.096,378,640.51Total171,269,538.95154,996,593.15(2)ProcessofadjustmenttoaccountingprofitsandincometaxexpensesUnit:YuanItemCurrentamountincurredTotalprofits4,000,172,851.45Incometaxexpensescalculatedatstatutory/applicabletaxrates1,000,043,212.86Effectofsubsidiariessubjecttodifferenttaxrates-152,020,918.50Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd444Effectofadjustmenttoincometaxinpreviousperiod1,125,021.26Effectofnontaxableincome-554,933,379.76Effectofnon-deductiblecosts,expensesandlosses17,010,537.47Effectofuseofdeductiblelosseswithrespecttowhichdeferredincometaxassetsarenotpreviouslyrecognized-30,271,034.66Effectofdeductibletemporarydifferenceordeductiblelossofdeferredincometaxassetsnotrecognizedinthecurrentperiod83,223,028.60Effectofprofitandlossofjointventuresandaffiliatesaccountedforundertheequitymethod-192,906,928.32Incometaxexpenses171,269,538.95Otherremarks56.OthercomprehensiveincomeAsdetailedinNoteVII.38othercomprehensiveincome.57.Itemsofcashflowstatement(1)OthercashreceivedinconnectionwithoperatingactivitiesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredVarioustemporaryreceiptsreceived256,896,619.60451,286,870.00Varioussubsidiesreceived69,050,892.3033,346,716.86Interestrevenuefrombankdeposits113,749,480.7617,754,621.55Penaltyincome8,084,332.324,118,436.37Others277,993,908.378,183,872.32Total725,775,233.35514,690,517.10Remarksonothercashreceivedinconnectionwithoperatingactivities:(2)OthercashpaidinconnectionwithoperatingactivitiesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredVarioussuspensedebitspaid312,320,147.83500,144,300.57Bankcommission,etc.16,401,870.138,964,429.60Sellingexpenses116,890,557.50145,697,233.66Managementexpenses517,166,435.38325,774,299.90Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd445R&Dexpenses39,130,318.3413,661,083.17Penaltyexpenses870,433.881,341,694.34Others404,371,308.5724,821,418.23Total1,407,151,071.631,020,404,459.47Remarksonothercashpaidinconnectionwithoperatingactivities:(3)OthercashreceivedinconnectionwithinvestingactivitiesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredSharetransferpricesreceivedinadvance224,422.00Incomefrominvestmentsinderivatives3,315,588.354,336,385.10Total3,315,588.354,560,807.10Remarksonothercashreceivedinconnectionwithinvestingactivities:(4)OthercashpaidinconnectionwithinvestingactivitiesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredNetcashdecreasedduetodisposalofsubsidiaries4,635,554.84Investedamountspaidinadvance8,500,000.00Lossfrominvestmentsinderivatives16,069,476.8618,570,875.10Futuresmarginspaid18,528,269.061,193,920.00Total43,097,745.9224,400,349.94Remarksonothercashpaidinconnectionwithinvestingactivities:(5)OthercashreceivedinconnectionwithfinancingactivitiesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredDisposalofpartofequitiesinsubsidiaries2,450,000.006,590,000.00Cashreceivedfromissueofbonds5,286,000,000.00Cashreceivedfromissueofnotes2,996,700,000.00Total8,285,150,000.006,590,000.00Remarksonothercashreceivedinconnectionwithfinancingactivities:Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd446(6)OthercashpaidinconnectionwithfinancingactivitiesUnit:YuanItemCurrentamountincurredPrior-periodamountincurredCashpaidforleaseback3,872,215.281,001,782.08Cashpaidforacquisitionofminorityequities9,341,362.9225,083,603.65Cashpaidforrepurchaseofsharesofthecompany422,979,525.59Duediligenceandguaranteefeesforborrowings,etc.4,567,368.63Commissiononcashdividends279,310.00Total18,060,256.83449,064,911.32Remarksonothercashpaidinconnectionwithfinancingactivities:58.Additionalinformationaboutcashflowstatement(1)AdditionalinformationaboutcashflowstatementUnit:YuanAdditionalinformationCurrentamountAmountinthepriorperiod1.Netprofitsadjustedtocashflowfromoperatingactivities:----Netprofits3,828,903,312.502,078,740,217.93Plus:assetimpairmentprovision49,856,223.5467,504,728.64Depreciationoffixedassets,depletionofoil&gasassetsanddepreciationofproductivebiologicalassets998,633,286.15522,687,280.47Depreciationofright-of-useassetsAmortizationofintangibleassets39,665,232.4037,115,127.85Amortizationoflong-termunamortizedexpenses101,293,380.7664,936,261.78Lossfromdisposaloffixedassets,intangibleassetsandotherlong-termassets(incometobedenotedby“-”)65,147,148.1538,316,628.29Lossfromretirementoffixedassets(incometobedenotedby“-”)31,097,017.9213,567,167.31Lossfromchangesinfairvalue(incometobedenotedby“-”)4,111,949.6361,001.80Financialexpenses(incometobedenotedby“-”)502,721,958.82205,893,276.05Lossoninvestment(incometobedenotedby“-”)-1,241,206,487.88-1,409,962,406.00Decreaseindeferredincometaxassets(increasetobedenotedby“-”)17,078,459.097,470,177.84Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd447Increaseindeferredincometaxliabilities(decreasetobedenotedby“-”)-1,067,946.32-1,091,537.33Decreaseininventory(increasetobedenotedby“-”)-5,733,741,971.33-1,799,339,172.91Decreaseinoperatingreceivables(increasetobedenotedby“-”)-905,334,337.64-884,066,890.81Increaseinoperatingpayables(decreasetobedenotedby“-”)2,901,436,105.791,601,852,313.03OthersNetcashflowfromoperatingactivities658,593,331.58543,684,173.942.Significantinvestmentandfinancingactivitiesinvolvingnocashreceiptandexpenditure:----Debtsconvertedtocapital22,050,000.003.Netchangeincashandcashequivalents:----Endingbalanceofcash10,015,558,784.223,638,275,278.50Minus:beginningbalanceofcash5,692,332,240.915,370,971,251.78Netincreaseincashandcashequivalents4,323,226,543.31-1,732,695,973.28(2)NetcashpaidforacquisitionofsubsidiariesinthecurrentperiodUnit:YuanAmountCashorcashequivalentspaidinthecurrentperiodforbusinesscombinationsoccurredinthecurrentperiod15,235,601.48Wherein:--ZhejiangYihaiAgriculturalDevelopmentCo.,Ltd15,235,601.48Minus:cashandcashequivalentsheldbysubsidiariesatthepurchasedate121,400.00Wherein:--ZhejiangYihaiAgriculturalDevelopmentCo.,Ltd121,400.00Plus:Cashorcashequivalentspaidinthecurrentperiodforbusinesscombinationsoccurredinthepreviousperiods112,210,000.00Wherein:--HengnanMuyunEco-agricultureCo.,Ltd9,800,000.00ZhengzhouQuanshengFarmingTechnologyCo.,Ltd6,750,000.00WeinanZhengnengFarmingTechnologyCo.,Ltd15,360,000.00LaiyangXinmuBreedingCo.,Ltd80,300,000.00Netcashpaidforacquisitionofsubsidiaries127,324,201.48Otherremarks:Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd448(3)NetcashreceivedfromdisposalofsubsidiariesinthecurrentperiodUnit:YuanAmountCashorcashequivalentsreceivedinthecurrentperiodfordisposalofsubsidiariesinthecurrentperiod514,783.95Wherein:--KaiyuanLiuheYahuiFeedCo.,Ltd514,783.95Minus:Cashandcashequivalentsheldbysubsidiariesatthedateoflossofcontrol50,011.84Wherein:--KaiyuanLiuheYahuiFeedCo.,Ltd50,011.84Wherein:--Netcashreceivedfordisposalofsubsidiaries464,772.11Otherremarks:(4)CompositionofcashandcashequivalentsUnit:YuanItemEndingbalanceBeginningbalanceI.Cash10,015,558,784.225,692,332,240.91Wherein:cashonhand11,656,066.126,983,790.62Bankdepositsreadilyavailableforpayment9,352,242,512.945,352,809,447.26Othermonetaryfundsreadilyavailableforpayment651,660,205.16332,539,003.03III.Endingbalanceofcashandcashequivalents10,015,558,784.225,692,332,240.91Wherein:cashandcashequivalentsoftheparentcompanyorsubsidiariesinsidethegrouprestrictedfromuse120,743,501.7284,847,337.96Otherremarks:59.NotestoitemsofthestatementofchangesinequityIndicatethenamesof“other”itemsofadjustmenttotheendingbalanceofthepreviousyearandtheamountsofadjustment,etc:Therearenomattersregardingthestatementofchangesinequitythatrequirespecialexplanation.60.AssetswithrespecttowhichownershiporrightofuseisrestrictedUnit:YuanItemEndingbookvalueCauseofrestrictionFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd449Monetaryfunds120,743,501.72VariousmarginsFixedassets141,038,890.50Usedascollateralsforlongandshort-termborrowingsIntangibleassets56,262,898.48Usedascollateralsforlongandshort-termborrowingsLong-termequityinvestments474,203,600.00Usedaspledgesforlong-termborrowingsTotal792,248,890.70--Otherremarks:(1)ThecompanyusesthelandofitsNepalesesubsidiary,housesandlandofLaotingNewHopeLiuheShengxiangFeedCo.,Ltd,housesandlandofZhongxiangHopeFeedCo.,Ltd,realestateofAnhuiXinhuaAnimalHusbandryTechnologyCo.,Ltd,housesandlandofYichangNewHopeFeedCo.,Ltd,housesandlandofWuweiHopeFeedCo.,Ltd,houseandlandofHuaianNewHopeFeedCo,,LtdandAnhuiBaixinFeedCo.,Ltd,landandhousesofBeijingKinghey,landandrealestateofGuanghanGuoxiongandCenturyInvestment,andlandandhousesofSingaporeBiotechnologyascollateralsforlongandshort-termborrowings,foratotalofmortgageloansequivalenttoRMB354.8021millionYuan.(2)Thecompany’ssubsidiaryTibetXinhaoTechnologyCo.,LtdprovidedequitypledgeguaranteesforNewHopeLiuheCo.,Ltdtosecure560millionYuan,156millionYuanand508.5millionYuanfinancingfromChinaDevelopmentBankSichuanBranch,Export-ImportBankofChinaSichuanBranchandPostalSavingsBankofChinaChengduTianfuSub-branchrespectively,usingthecapitalcontributionsof71.12millionYuantoKangpingNewHopeFarmingCo.,Ltd,100.89millionYuantoBaiyinNewHopeFarmingTechnologyCo.,Ltd,60millionYuantoGaomiXinliuFarmingTechnologyCo.,Ltd,91millionYuantoRaoyangXinhaoFarmingCo.,Ltd,40millionYuantoFuxinXinhaoFarmingCo.,Ltd,168millionYuantoHuanghuaXinhaoTechnologyCo.,Ltdand168millionYuantoXiangzhouXinhaoFarmingCo.,Ltdaspledges.61.Foreign-currencymonetaryitems(1)Foreign-currencymonetaryitemsUnit:YuanItemEndingforeign-currencybalanceExchangerateforconversionEndingconvertedRMBbalanceMonetaryfunds----613,797,935.03Wherein:USD16,037,316.527.0795113,536,182.33EuroHKD2,837,379.990.91342,591,662.88SGD1,735,258.885.081300008,817,370.96VND402,752,173,349.010.00030479122,754,834.92PHP130,757,403.170.1422475118,599,915.01BDT601,874,385.980.0835107950,263,005.45LKR807,521,255.870.0379578730,651,786.85IDR161,219,415,570.510.0004943079,690,757.12Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd450LAK56,442,651,810.320.0007764043,822,074.87ZAR12,831,826.810.410138635,262,827.83TRY10,968,361.421.0328000011,328,123.67NGN833,521,891.010.0196287416,360,984.48Kyat3,595,922,616.790.0051326418,456,576.26EGP105,006,850.830.4367958645,866,557.48INR144,875,454.370.0937420013,580,914.84PLN4,949.991.785227968,836.86NPR549,104,230.800.0586510232,205,523.22Accountsreceivable----485,265,519.02Wherein:USD2,845,233.027.079520,142,827.16EuroHKD20,498,227.630.913418,723,081.12VND135,603,403,700.000.0003047941,330,561.41PHP622,947,950.270.1422475188,612,794.79BDT546,829,394.210.0835107945,666,154.71LKR252,130,654.780.037957879,570,342.62IDR404,050,231,548.160.00049430199,722,029.45LAK3,928,516,299.630.000776403,050,100.06ZAR12,287,332.920.410138635,039,509.85TRY3,713,759.781.032800003,835,571.10Kyat2,522,830,936.000.0051326412,948,782.98EGP57,332,246.200.4367958625,042,487.66INR4,087,064.350.09374200383,129.59NPR190,928,419.020.0586510211,198,146.52Long-termborrowings----212,385,000.00Wherein:USD30,000,000.007.0795212,385,000.00EuroHKDOtherreceivables24,089,507.07Wherein:USD29,551.357.0795209,208.79HKD124,295.000.9134113,531.05SGD35,073.805.08130000178,220.48VND1,596,584,250.000.00030479486,622.91Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd451PHP133,181,565.470.1422475118,944,746.07BDT17,320,923.290.083510791,446,483.99LKR581,806.120.0379578722,084.12IDR851,754,028.090.00049430421,022.02ZAR1,059,659.000.41013863434,607.09TRY17,551.001.0328000018,126.67NGN221,544.940.019628744,348.65Kyat105,550,419.940.00513264541,752.31EGP104,408.070.4367958645,605.01INR13,048,024.480.093742001,223,147.91Short-termborrowings3,238,117,889.11Wherein:USD403,168,036.537.03052,834,488,114.62Euro12,770,000.007.830099,989,100.00PHP1,899,000,000.000.14224751270,128,021.49IDR50,000,000,000.000.0004943024,715,000.00NPR150,000,000.000.058651028,797,653.00Accountspayable364,246,131.25Wherein:USD5,054,033.317.079535,780,028.78HKD5,048,680.980.91344,611,465.21SGD185,552.195.08130000942,846.32VND227,858,182,499.000.0003047969,448,895.44PHP197,538,469.580.1422475128,099,355.43BDT287,903,687.190.0835107924,043,064.36IDR311,940,185,273.640.00049430154,192,033.58LAK1,620,382,152.990.000776401,258,064.70ZAR793,434.260.41013863325,418.04TRY2,130,654.661.032800002,200,540.13NGN34,339,650.740.01962874674,044.08Kyat1,734,039,547.140.005132648,900,200.74EGP58,963,665.220.4367958625,755,084.73INR60,301,484.470.093742005,652,781.76NPR40,277,354.980.058651022,362,307.95Otherpayables28,505,392.56Wherein:USD155,763.687.07951,102,728.97Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd452HKD1,263,171.450.91341,153,780.80SGD316,736.825.081300001,609,434.81VND7,641,987,420.000.000304792,329,201.35PHP50,182,200.190.142247517,138,293.02BDT43,132,897.520.083510793,602,062.35LKR2,834,218.000.03795787107,580.88IDR7,033,392,441.980.000494303,476,605.88LAK113,202,810.000.0007764087,890.66ZAR9,974.250.410138634,090.83TRY1,139,174.291.032800001,176,539.21NGN86,730,591.080.019628741,702,412.22Kyat305,795,010.560.005132641,569,535.70EGP4,513,899.140.436795861,971,652.45INR14,253,289.940.093742001,336,131.91NPR2,343,548.630.05865102137,451.52Interestpayable8,910,528.63Wherein:USD1,047,060.117.07957,412,662.05PHP9,297,347.800.142247511,322,524.57NPR2,989,581.580.05865102175,342.01Long-termborrowingsduewithinayear74,000,718.20Wherein:USD7,500,000.007.079553,096,250.00SGD4,114,000.005.0813000020,904,468.20Otherremarks:(2)Remarksonoverseasoperatingentities,includingdisclosureofprincipalplaceofbusiness,accountingcurrencyandselectionbasisforimportantoverseasoperatingentities,aswellasthereasonsfordisclosureofchangestoaccountingcurrency,ifany.√Applicable□NotapplicableNameofentityPrincipalplaceofbusinessAccountingcurrencyBasisforselectionofaccountingcurrencyNewHopeHanoiCo.,LtdVietnamVNDLocalprincipalcurrencyNewHopeHoChiMinhCityCo.,LtdVietnamVNDLocalprincipalcurrencyBinhDinhNewHopeCo.,LtdVietnamVNDLocalprincipalcurrencyNewHopeDongThapProducingFeedForAquacultureCo.,LtdVietnamVNDLocalprincipalcurrencyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd453ThanHoaNewHopeLivestockServicesCo.,LtdVietnamVNDLocalprincipalcurrencyNewHopeBinhDinhLivestockCo.,LtdVietnamVNDLocalprincipalcurrencyNewHopeVinhLongCo.,LtdVietnamVNDLocalprincipalcurrencyNewHopeBinhPhuocLivestockCo,.LtdVietnamVNDLocalprincipalcurrencyNewHopeVietnamTechnologicalLivestockServicesCo.,LtdVietnamVNDLocalprincipalcurrencySichuanNewHopeAgriculture(Cambodia)Co.,LtdCambodiaUSDLocalprincipalcurrencyNewHopePampangaAgricultureInc.PhilippinesPesoLocalprincipalcurrencyNewHopeCentralLuzonAgricultureInc.PhilippinesPesoLocalprincipalcurrencyNewHopeTarlacAgricultureInc.PhilippinesPesoLocalprincipalcurrencyNewHopeBulacanAgricultureInc.PhilippinesPesoLocalprincipalcurrencyNewHopeIsabelaAgricultureInc.PhilippinesPesoLocalprincipalcurrencyNewHopePhilippinesAnimalHealthcareServicesInc.PhilippinesPesoLocalprincipalcurrencyNewHopeBangladeshLtdBangladeshTakaLocalprincipalcurrencyNewHopeAgrotechBangladeshLtdBangladeshTakaLocalprincipalcurrencyNewHopeFarmsBangladeshLtdBangladeshTakaLocalprincipalcurrencyXinheInternationalTradeCo.,LtdBangladeshTakaLocalprincipalcurrencyNewHopeLanka(Pvt)LimitedSriLankaLKRLocalprincipalcurrencyPTNewHopeJawaTimurIndonesiaIDRLocalprincipalcurrencyPTNewHopeIndonesiaIndonesiaIDRLocalprincipalcurrencyPTNewHopeMedanIndonesiaIDRLocalprincipalcurrencyPTNewHopeFarmsIndonesiaIndonesiaIDRLocalprincipalcurrencyPTNewHopeFoodIndonesiaIndonesiaIDRLocalprincipalcurrencyPTNewHopeAquaFeedIndonesiaIndonesiaIDRLocalprincipalcurrencyPTNewHopePoultryTradeIndonesiaIndonesiaIDRLocalprincipalcurrencyPTCornDryingIndonesiaIndonesiaIDRLocalprincipalcurrencyNewHopeSingaporePte.LtdSingaporeUSDLocalprincipalcurrencyNewHopeAsiaInvestmentPte.LtdSingaporeUSDLocalprincipalcurrencyNewHopeInternationalHoldings(Pte)LtdSingaporeUSDLocalprincipalcurrencyNewHopeGlobalInvestmentPte.LtdSingaporeUSDLocalprincipalcurrencyNewHopeSingaporePremixPte.LtdSingaporeUSDLocalprincipalcurrencyNewHopeSingaporeBiotechnologyPte.LtdSingaporeSGDLocalprincipalcurrencyNHCSInvestmentPte.LtdSingaporeSGDLocalprincipalcurrencyMyanmarNewHopeFarmsCo.,LtdMyanmarMMKLocalprincipalcurrencyMyanmarNewHopeAgro-TechnologyCo.,LtdMyanmarMMKLocalprincipalcurrencyXinheMyanmarAgro-technologyCo.,LtdMyanmarMMKLocalprincipalcurrencyNewHopeMandalayCo.,LtdMyanmarMMKLocalprincipalcurrencyNewHopeEgyptLtdEgyptEGPLocalprincipalcurrencyNewHopeAgriculture()LtdEgyptEGPLocalprincipalcurrencyNewHopeAlexanderLtdEgyptEGPLocalprincipalcurrencyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd454NewHopeEgyptAquaticTechnologyLtdEgyptEGPLocalprincipalcurrencyNewHopeEgyptPoultryLtdEgyptEGPLocalprincipalcurrencyNewHopeSouthAfricaLtdSouthAfricaRandLocalprincipalcurrencyNewHopeTurkeyFeedandFarmingFoodImport&ExportandIndustryLtdTurkeyLiraLocalprincipalcurrencyNewHopeLaosCo.,LtdLaosKipLocalprincipalcurrencyLiuheInvestment(US)Inc.USUSDLocalprincipalcurrencyNewHopeAgroBusinessNepalPvtLtdNepalNPRLocalprincipalcurrencyNewHopePolandLtdPolandZlotyLocalprincipalcurrencyNewHopeKolkataAnimalFeedPrivateLtdIndiaINRLocalprincipalcurrencyNewHopeAgro-technologyNigeriaLtdNigeriaNairaLocalprincipalcurrencyHongKongDongxianTechnologyCo.,LtdHongKongHKDLocalprincipalcurrency62.Governmentsubsidy(1)BasicdetailsofgovernmentsubsidyUnit:YuanCategoryAmountItemspresentedAmountchargedtocurrentprofitandlossResearchanddevelopmentofpackagedtechnologyandequipmentfortreatmentandrecyclingofdeadlivestockandpoultryandslaughteringwastes42,000.00DeferredincomeSubsidyformanurerecyclingprojectofSantaiFarming309,318.50Deferredincome128,882.70SubsidyforfertilesowsofHuairenFarming126,000.00Deferredincome126,000.00Subsidyforlarge-sizedbiogasengineeringprojectofYantingXinhao1,406,250.00Deferredincome75,000.00BoilersubsidytoLaiwuRefrigeration40,000.00DeferredincomeSubsidyforlow-nitrogenrenovationofgas(oil)-firedboilersofPorridgeJiahe244,000.00Deferredincome11,401.85SubsidyforrenewalofmotorvehiclesofBeijingKinghey16,000.00Deferredincome16,000.00Researchofrapididentificationandpreventionandcontroltechnologysystemfordrug-resistantbacteriatransmittedbetweenhumanandpoultrybasedonartificialintelligence710,000.00DeferredincomeSubsidyforenclosurewallsofMianyangNewHope70,000.00DeferredincomeSubsidyforfarmingmachineryofLinmuSwineBreeding150,000.00Deferred4,090.92Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd455incomeSubsidyforintroductionofbreedstoXiaoxianSwineBreeding203,700.00Deferredincome28,291.65SubsidyforfermentationvatsofLiaochengXinhao867,550.00Deferredincome43,377.50SubsidyforagriculturalprojectofTangshanXinhao1,300,000.00Deferredincome16,250.00ConstructionsubsidytoYijunXinliu2,450,000.00DeferredincomeSubsidyforpigbreedingofTaianXinchi200,000.00Deferredincome5,555.56Governmentsubsidyforpuffingunits974,900.00Deferredincome487,450.00Subsidyfortechnicalrenovation1,047,400.00DeferredincomeProductionlinecapacityexpansion420,000.00Deferredincome4,375.00Projectofintegrationandindustrializationdemonstrationofkeytechnologiesfor3000t/amarinebiologicalproductsforagriculturaluse120,000.00Deferredincome17,100.00“China-EUintergovernmentalcooperationprogram”-EUHorizonSFS-46-2017(specialproject)200,000.00Deferredincome12,240.71Nationalaquaticpoultrytechnologysystemconstructionproject(specialproject)187,500.00DeferredincomeBoilerrenovationofHongyuanFeed178,600.00DeferredincomeResearchofmicrobiologicaldegradationtechnologyformycotoxinsinprawnfeedingredients—ShandongProvince(specialproject60,000.00DeferredincomeLeadingtalentedindustrypractitionersinTaishan---promotionofkeytechnologyforselectionandbreedingofimportanteconomictraitsofmeatducksandcultivationofnewstrains(specialproject)600,000.00DeferredincomeResearch,developmentandapplicationofnewveterinarydrugsandnewadditivesofbacteriophageforsuperbacteria(specialproject)200,000.00DeferredincomePilotprogramofinnovationinfinancialsupportforagriculture2019ofPuhuiGuarantee980,000.00Deferredincome980,000.00MonetaryrewardtoSheyangLiuheforadvancedmanufacturingindustrydevelopment502,800.00DeferredincomeMonetaryrewardtoSheyangLiuhefortenpoliciesoncooperativeinnovation150,000.00DeferredincomeFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd456Researchandindustrializationpromotionofkeytechnologiesofenvironment-friendly,antimicrobial-freefeedforswineandpoultryofWeifangNewHope2,720,000.00DeferredincomeResearchandindustrializationofkeytechnologiesofefficientandenvironment-friendlylayinghenfeedofWeifangNewHope200,000.00DeferredincomeAmortizationofdeferredincome11,661,650.37Otherincome11,733,150.32Others52,374,873.80Otherincome52,374,873.80Total80,712,542.6766,064,040.01VIII.Changesinscopeofconsolidation1.Businesscombinationnotundercommoncontrol(1)CurrentbusinesscombinationsnotundercommoncontrolUnit:YuanNameoftheacquiredpartyTimeofequityacquisitionCostofequityacquisitionRatioofequitiesacquiredWayofequityacquisitionPurchasedateBasisfordeterminationofpurchasedateRevenueoftheacquiredpartyfromthepurchasedatetoendoftheperiodNetprofitsoftheacquiredpartyfromthepurchasedatetoendoftheperiodZhejiangYihaiAgriculturalDevelopmentCo.,LtdApril07,202021,306,143.40100.00%CashApril07,2020Investmentamountalreadypaidandbusinessregistrationchanged0.00-563,524.41Otherremarks:None(2)CombinationcostandgoodwillUnit:YuanCombinationcost-cash21,306,143.40-fairvalueofnon-cashassets-fairvalueofdebtsissuedorassumedFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd457-fairvalueofequitysecuritiesissued-fairvalueofcontingentconsideration-fairvalueofequitiesheldpriortopurchasedateatthepurchasedate-otherTotalcombinationcost21,306,143.40Minus:shareoffairvalueofidentifiablenetassetsacquired21,306,143.40Amountofgoodwill/combinationcostlowerthantheshareoffairvalueofidentifiablenetassetsacquiredRemarksonmethodfordeterminationoffairvalueofcombinationcost,contingentconsiderationanditschanges:NoneMaincausesofformationoflarge-sumgoodwill:NoneOtherremarks:None(3)IdentifiableassetsandliabilitiesoftheacquiredpartyatthepurchasedateUnit:YuanZhejiangYihaiAgriculturalDevelopmentCo.,LtdFairvalueatthepurchasedateBookvalueatthepurchasedateAssets:32,841,218.9215,838,483.00Monetaryfunds121,400.00121,400.00Intangibleassets17,002,735.920.00Long-termunamortizedexpenses899,500.00899,500.00Worksinprogress14,817,583.0014,817,583.00Liabilities:11,535,075.5211,535,075.52Otherpayables11,464,533.6011,464,533.60Taxespayable70,541.9270,541.92Netassets:21,306,143.404,303,407.48Minus:minorityinterest0.00Netassetsacquired21,306,143.404,303,407.48MethodfordeterminationoffairvalueofidentifiableassetsandliabilitiesNoneContingentliabilitiesoftheacquiredpartyassumedinthebusinesscombinationNoneOtherremarks:NoneFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd458(4)Earningsorlossesrisingfromre-measurementofequitiesheldpriortopurchasedateatfairvalueWhethertherewereanytransactionsinwhichbusinesscombinationwasrealizedstepbystepthroughmultipletransactionsandcontrolwasacquiredinthereportingperiod□yes√no(5)Relatedremarksoninabilitytoreasonablydeterminetheconsiderationforcombinationorthefairvalueofidentifiableassetsandliabilitiesoftheacquiredpartyatthepurchasedateorattheendofperiodofcombination(6)Otherremarks2.DisposalofsubsidiariesWheretherewereanycircumstancesinwhichthecompanylostcontroluponasingledisposalofinvestmentsinsubsidiaries√Yes□NoUnit:YuanNameofsubsidiaryPriceofequitydisposalRatioofequitydisposalWayofequitydisposalTimeoflossofcontrolBasisfordeterminationoftimeoflossofcontrolThedifferencebetweendisposalpriceandtheshareofnetassetsofthesubsidiaryattheconsolidatedlevelcorrespondingtodisposalofinvestmentRatioofremainingequitiesatthedateoflossofcontrolBookvalueofremainingequitiesatthedateoflossofcontrolFairvalueofremainingequitiesatthedateoflossofcontrolEarningsorlossesfromre-measurementofremainingequitiesatfairvalueMethodfordeterminationoffairvalueofremainingequitiesatthedateoflossofcontrolandmainassumptionsAmountofothercomprehensiveincometransferredtoinvestmentprofitandlossinconnectionwithoriginalequityinvestmentinsubsidiaryKaiyuanLiuheYahuiFeedCo.,Ltd514,783.9560.00%TransferApril30,2020Businessregistrationchanged713,777.270.00%0.000.000.0000.00Otherremarks:NoneWhetherthereexistedanycircumstancesinwhichthecompanylostcontrolinthecurrentperiodthroughmulti-transaction,step-by-stepdisposalofinvestmentinsubsidiary□yes√no3.ChangesinscopeofconsolidationforotherreasonsRemarksonchangestothescopeofconsolidationduetootherreasons(e.g.,establishmentofanewsubsidiary,liquidationofaFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd459subsidiary,etc.)andrelatedcircumstances:SubsidiariesnewlyestablishedinthecurrentperiodCompanynameEndingnetassetsCurrentnetassetsTaiqianNewHopeLiuheLuxinFoodCo.,Ltd--ShandongKingleyFoodCo.,Ltd-141,156.22-141,156.22GuangzhouHopeFoodCo.,Ltd-280,370.97-280,370.97ShixingXinhaoFarmingCo.,Ltd-66,473.00-567,473.00RuyuanYaoAutonomousCountyXinhaoFarmingCo.,Ltd-685,378.64-685,378.64TongchengXinliuFarmingTechnologyCo.,Ltd29,882,088.98-117,911.02JiexiNewHopeLiuheBreedingCo.,Ltd2,460,774.02-39,225.98YingtanXinliuTechnologyCo.,Ltd-523,606.48-523,606.48KerqinZuoyiMiddleBannerXinhaoFarmingCo.,Ltd1,994,387.04-5,612.96BinzhouZhanhuaDistrictXinliuFarmingTechnologyCo.,Ltd1,845,452.24-154,547.76HandanNewHopeLiuheBreedingCo.,Ltd6,629,897.01-370,102.99AnyueNewHopeLiuheFarmingCo.,Ltd19,756,052.21-243,947.79WeiyuanXinliuFarmingTechnologyCo.,Ltd--LonghuiNewHopeLiuheFarmingCo.,Ltd2,242,782.30-757,217.70HainanXinliuAgriculturalReclamationFarmingTechnologyCo.,Ltd50,243,200.86-756,799.14YichunXinwangFarmingCo.,Ltd-97,869.88-97,869.88LipuXinhaoFarmingTechnologyCo.,Ltd9,786,501.54-213,498.46LiaoningXinwangFoodCo.Ltd49,455.9549,455.95DongyingXinhaoModernFarmingCo.,Ltd1,371,067.46-628,932.54HengyangXinhaoFarmingCo.,Ltd5,478,316.70-21,683.30YixianXinliuFarmingTechnologyCo.,Ltd-90,412.50-90,412.50ChangningNewHopeLiuheEco-FarmingTechnologyCo.,Ltd--LiquanNewHopeLiuheFarmingCo.,Ltd3,927,547.85-72,452.15NanheXinhaoFarmingTechnologyCo.,Ltd2,936,840.89-63,159.11XinminXinwangFarmingCo.,Ltd-214,565.24-214,565.24RuianNewHopeLiuheFarmingCo.,Ltd1,931,550.91-68,449.09ShanxianXinhaoFarmingCo.,Ltd4,254,698.57-745,301.43FujianDatianNewHopeLiuheAnimalHusbandryCo.,Ltd-317,689.07-317,689.07NanjingXinmuFarmingCo.,Ltd4,974,643.67-25,356.33GulinXinliuEco-FarmingTechnologyCo.,Ltd--MuyangXinliuFarmingTechnologyCo.,Ltd-196,583.10-196,583.10WuyiXinhaoFarmingCo.,Ltd--YantaiXinhaoFarmingCo.,Ltd949,392.33-50,607.67BinzhouNewHopeLiuheFarmingCo.,Ltd2,229,092.05-770,907.95DachengXinhaoTechnologyCo.,Ltd--LaizhouNewHopeLiuheFarmingCo.,Ltd4,920,852.72-79,147.28Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd460ZhenjiangNewHopeLiuheFarmingCo.,Ltd2,000,000.00-ChongqingQianjiangDistrictXinhaoFarmingTechnologyCo.,Ltd4,861,182.86-138,817.14YanyuanXinliuFarmingTechnologyCo.,Ltd--JiangxiNewHopeLiuheFarmingTechnologyCo.,Ltd--SuiningXinliuFarmingTechnologyCo.,Ltd7,307,375.89-522,624.11XiajiangXinliuFarmingCo.,Ltd--ZhaoxianXinhaoFarmingCo.,Ltd--NeijiangNewHopeLiuheFarmingTechnologyCo.,Ltd15,296,685.82-3,314.18QuyangXinhaoFarmingCo.,Ltd--LuochuanXinliuTechnologyCo.,Ltd2,965,290.67-34,709.33DongguangXinhaoFarmingCo.,Ltd--DazhuXinliuFarmingTechnologyCo.,Ltd--DongmingXinmuFarmingCo.,Ltd5,000,000.050.05LeizhouXinhaoFarmingCo.,Ltd--QianweiXinhaoFarmingCo.,Ltd--ChangleNewHopeLiuheFarmingCo.,Ltd--TianjinXinliuFarmingTechnologyCo.,Ltd-20.00-20.00TianjinNewHopeLiuheFarmingTechnologyCo.,Ltd--QuzhouXinhaoFarmingCo.,Ltd--PanzhouXinliuFarmingDevelopmentCo.,Ltd--LezhiXinmuFarmingCo.,Ltd--ShangyiXinliuFarmingTechnologyCo.,Ltd--PingyuanXinliuFarmingTechnologyCo.,Ltd--PuchengXinliuTechnologyCo.,Ltd--MianningXinliuFarmingTechnologyCo.,Ltd--ChongrenNewHopeLiuheFarmingCo.,Ltd--XiamenXiashangNewHopeAgriculturalDevelopmentCo.,Ltd--TangshanMuzhengFeedCo.,Ltd28,657,340.14-642,659.86PuchengNewHopeFarmingTechnologyCo.,Ltd19,500,299.44-499,700.56XiajinXinhaoFeedCo.,Ltd-7,500.00-7,500.00HezeXinhaoFeedCo.,Ltd--BaiyinNewHopeLiuheFeedCo.,Ltd--ZaozhuangNewHopeJinkeFeedCo.,Ltd5,000,000.00-YangguAnputaiBiotechnologyCo.,Ltd4,788,479.50-211,520.50AnhuiJinxinFarmingFoodCo.,Ltd5,878,773.68-1,121,226.32GuanlingXinmuBreedingCo.,Ltd2,783,419.12-1,216,580.88QingdaoYifengdaLivestock&PoultryBreedingCo.,Ltd3,999,640.32-359.68HeishanQingwangMeatDuckBreedingCo.Ltd-138.79-138.79DezhouXinyingLivestock&PoultryBreedingCo.,Ltd5,995,885.00-4,115.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd461RizhaoQinyijiaEco-agricultureDevelopmentCo.,Ltd6,517,923.92-482,076.08ShouguangQihangAnimalHusbandryCo.,Ltd--SichuanNewHopeAnimalNutritionTechnologyCo.,Ltd483,449,791.38-16,550,208.62GuigangGangnanDistrictXinliuFarmingTechnologyCo.,Ltd--YichunNewHopeAnimalHusbandryDevelopmentFundPartnership(LP)--Ji’anXinchiFarmingCo.,Ltd--CangzhouXinliuFarmingTechnologyCo.,Ltd--QingdaoNewHopeLiuheTrainingBaseCo.,Ltd--ShanxianXinliuFarmingTechnologyCo.,Ltd--QingdaoXinmuZhiheTechnologyCo.,Ltd--YiliangXinliuFarmingTechnologyCo.,Ltd--SubsidiariesderegisteredinthecurrentperiodCompanynameNetassetsderegisteredNetprofitsfrombeginningoftheperiodtodatederegisteredYangjiangNewHopeLiuheFeedCo.,Ltd-195.00-814.61YishuiXinheLivestock&PoultryBreedingCo.,Ltd1,283,547.29-251,500.12XianningXinhaoFarmingCo.,Ltd--PingduLiuheHengliFeedCo.,Ltd19,072,710.831,500.00ShanghaiYijiuyiInternationalTradeCo.,Ltd--YishuiXinliuBreedingCo.,Ltd--ZaoyangLiuheFeedCo.,Ltd-9,248,194.24-4.OthersIX.Equitiesinotherentities1.Equitiesinsubsidiaries(1)CompositionofbusinessgroupNameofsubsidiaryPrincipalplaceofbusinessPlaceofregistrationNatureofbusinessShareholdingratioWayofacquisitionDirectIndirectShandongNewHopeLiuheGroupCo.,LtdQingdao,ShandongQingdao,ShandongFeed,veterinarydrugs100.00%0.00%BusinesscombinationundercommoncontrolNewHopeLiuheFeedCo.,LtdQingdao,ShandongQingdao,Shandongfeedproductionandsale24.00%76.00%BusinesscombinationundercommoncontrolSichuanNewHopeLiuheFarmingCo.,LtdXinjin,SichuanXinjin,SichuanFeedsale,investment100.00%0.00%BusinesscombinationundercommoncontrolFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd462NewHopeSingaporePte.LtdSingaporeSingaporeTrade,investment100.00%0.00%EstablishedbyinvestmentNewHopeInternationalHoldings(Pte)LtdSingaporeSingaporeTrade,investment100.00%0.00%EstablishedbyinvestmentTibetXinhaoTechnologyCo.,LtdLhasa,TibetLhasa,TibetLivestockbreeding,investment100.00%0.00%EstablishedbyinvestmentNewHopeLiuheFoodHoldingsCo.,LtdChengdu,SichuanLhasa,TibetInvestment,R&D100.00%0.00%EstablishedbyinvestmentYanglingBesunAgriculturalIndustryGroupCo.,LtdYangling,ShaanxiYangling,ShaanxiLivestockbreeding,slaughtering70.00%0.00%BusinesscombinationnotundercommoncontrolGuanghanGuoxiongFeedCo.,LtdGuanghan,SichuanGuanghan,Sichuanfeedproductionandsale100.00%0.00%EstablishedbyinvestmentErmeishanNewHopeLiuheFeedCo.,LtdErmeishan,SichuanErmeishan,Sichuanfeedproductionandsale100.00%0.00%EstablishedbyinvestmentGuangyuanNewHopeLiuheFarmingTechnologyCo.,LtdGuangyuan,SichuanGuangyuan,SichuanLivestockbreeding100.00%0.00%EstablishedbyinvestmentMianyangNewHopeLiuheFarmingTechnologyCo.,LtdMianyang,SichuanMianyang,Sichuanfeedproductionandsale100.00%0.00%EstablishedbyinvestmentChongqingTongliangNewHopeLiuheFarmingTechnologyCo.,LtdTongliang,ChongqingTongliang,Chongqingfeedproductionandsale100.00%0.00%EstablishedbyinvestmentWulongNewHopeLiuheFeedCo.,LtdWulong,ChongqingWulong,Chongqingfeedproductionandsale100.00%0.00%EstablishedbyinvestmentKunmingNewHopeAgriculturalTechnologyCo.,LtdKunming,YunnanKunming,Yunnanfeedproductionandsale100.00%0.00%EstablishedbyinvestmentQujingGuoxiongFeedCo.,LtdQujing,YunnanQujing,Yunnanfeedproductionandsale90.00%7.50%BusinesscombinationundercommoncontrolMangshiNewHopeFarmingTechnologyCo.,LtdDehongPrefecture,YunnanDehongPrefecture,Yunnanfeedproductionandsale100.00%0.00%EstablishedbyinvestmentKunmingNewHopeAnimalNutritiousFoodCo.,LtdKunming,YunnanKunming,Yunnanfeedproductionandsale100.00%0.00%EstablishedbyinvestmentZunyiJiahaoFeedCo.,LtdZunyi,GuizhouZunyi,Guizhoufeedproductionandsale100.00%0.00%BusinesscombinationundercommoncontrolZunyiNewHopeLiuheAgriculturalTechnologyCo.,LtdZunyi,GuizhouZunyi,Guizhoufeedproductionandsale100.00%0.00%EstablishedbyinvestmentHainanNewHopeAgricultureCo.,LtdHaikou,HainanHaikou,HainanLivestockbreeding100.00%0.00%EstablishedbyinvestmentFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd463TaizhouNewHopeAgricultureCo.,LtdTaizhou,JiangsuTaizhou,Jiangsufeedproductionandsale100.00%0.00%EstablishedbyinvestmentLhasaNewHopeIndustrialCo.,LtdLhasa,TibetLhasa,Tibetfeedproductionandsale55.00%0.00%EstablishedbyinvestmentBeijingNewHopeFarmingTechnologyCo.,LtdBeijingBeijingfeedproductionandsale75.00%25.00%EstablishedbyinvestmentHebeiNewHopeFeedCo.,LtdXinji,HebeiXinji,Hebeifeedproductionandsale100.00%0.00%EstablishedbyinvestmentBaojiNewHopeFarmingCo.,LtdFufeng,ShaanxiFufeng,Shaanxifeedproductionandsale100.00%0.00%EstablishedbyinvestmentSanyuanNewHopeFeedCo.,LtdSanyuan,ShaanxiSanyuan,Shaanxifeedproductionandsale100.00%0.00%EstablishedbyinvestmentWuzhouNewHopeLiuheFeedCo.,LtdWuzhou,GuangxiWuzhou,Guangxifeedproductionandsale100.00%0.00%EstablishedbyinvestmentGuangxiNewHopeLiuheBreedingCo.,LtdNanning,GuangxiNanning,GuangxiLivestockbreeding100.00%0.00%EstablishedbyinvestmentYongzhouNewHopeLiuheFeedCo.,LtdYongzhou,HunanYongzhou,Hunanfeedproductionandsale100.00%0.00%EstablishedbyinvestmentHuaihuaNewHopeLiuheFeedCo.,LtdHuaihua,HunanHuaihua,Hunanfeedproductionandsale100.00%0.00%EstablishedbyinvestmentHuanggangNewHopeFeedTechnologyCo.,LtdHuanggang,HubeiHuanggang,Hubeifeedproductionandsale100.00%0.00%EstablishedbyinvestmentYingtanNewHopeFeedCo.,LtdYingtan,JiangxiYingtan,Jiangxifeedproductionandsale100.00%0.00%EstablishedbyinvestmentNingxiaNewHopeRuminantAnimalNutritiousFoodCo.,LtdQingtongxia,NingxiaQingtongxia,Ningxiafeedproductionandsale100.00%0.00%EstablishedbyinvestmentXiangyangNewHopeLiuheFeedCo.,LtdXiangyang,HubeiXiangyang,Hubeifeedproductionandsale100.00%0.00%EstablishedbyinvestmentGuangzhouLiuheFeedCo.,LtdGuangzhou,GuangdongGuangzhou,Guangdongfeedproductionandsale61.00%0.00%EstablishedbyinvestmentSichuanXinlePlasticsCo.,LtdLeshan,SichuanLeshan,SichuanProductionandsaleofwovenbags100.00%0.00%EstablishedbyinvestmentJiangsuTianchengHealthcareProductsCo.,LtdHaian,JiangsuHaian,JiangsuProductionandsaleofadditives51.00%0.00%EstablishedbyinvestmentBeijingXindaoluAgriculturalTechnologyCo.,LtdBeijingBeijingConsultingmanagement100.00%0.00%EstablishedbyinvestmentHebeiNewHopeFarmingCo.,LtdKuancheng,HebeiKuancheng,HebeiLivestockbreeding100.00%0.00%EstablishedbyinvestmentFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd464YunnanNewHopeLiuheBreedingCo.,LtdKunming,YunnanKunming,YunnanLivestockbreeding100.00%0.00%EstablishedbyinvestmentTibetLinzhiNewHopeLiuheBreedingCo.,LtdLinzhi,TibetLinzhi,TibetLivestockbreeding60.00%0.00%EstablishedbyinvestmentShandongQinwangBreedingConsultingCo.,LtdQingdao,ShandongQingdao,ShandongConsulting,services80.00%0.00%BusinesscombinationnotundercommoncontrolQingdaoFeidakeFoodTechnologyCo.,LtdQingdao,ShandongQingdao,ShandongInvestment70.00%0.00%EstablishedbyinvestmentQingdaoXinhangEngineeringManagementCo.,LtdQingdao,ShandongQingdao,ShandongEngineeringprojectmanagement100.00%0.00%EstablishedbyinvestmentLiuheInvestment(US)Inc.USUSInvestment100.00%0.00%EstablishedbyinvestmentGoldenOakInvestmentHoldings(Tianjin)Co.,LtdTianjinTianjinTrade100.00%0.00%EstablishedbyinvestmentTianjinDingchengZhiziInvestmentCo.,LtdTianjinTianjinInvestment100.00%0.00%EstablishedbyinvestmentSichuanXinheImport&ExportCo.,LtdXinjin,SichuanXinjin,SichuanTrade100.00%0.00%EstablishedbyinvestmentNewHopeLiuheInvestmentCo.,LtdShanghaiLhasa,TibetInvestment75.00%0.00%EstablishedbyinvestmentSantaiNewHopeFarmingFinancingGuaranteeCo.,LtdSantai,SichuanSantai,SichuanGuarantee100.00%0.00%EstablishedbyinvestmentChengduFenglanTechnologyCo.,LtdChengdu,SichuanChengdu,SichuanProductionandsaleofadditives75.00%0.00%BusinesscombinationnotundercommoncontrolWuhanLiuheFoodCo.,LtdXiaogan,HubeiXiaogan,HubeiProcessingandsaleofpoultry0.00%55.00%EstablishedbyinvestmentShanghaiShiheCommerceCo.,LtdShanghaiShanghaiWholesale,retail25.00%75.00%EstablishedbyinvestmentSichuanNewHopeLiuheTechnologicalInnovationCo.,LtdChengdu,SichuanChengdu,SichuanTesting,consulting100.00%0.00%EstablishedbyinvestmentSichuanNewHopeAnimalNutritionTechnologyCo.,LtdChengdu,SichuanChengdu,SichuanTrade100.00%0.00%EstablishedbyinvestmentRemarksonshareholdingratioinsubsidiarydifferentfromtheratioofvotingpowerNoneBasisofcontrolofinvesteewhileholdinghalforlessofvotingpowerandofnon-controlofinvesteewhileholdinghalformoreofvotingpower:Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd465NoneBasisofcontrolforimportantstructuredentitiesincludedinthescopeofconsolidation:NoneBasisofdeterminingwhetherthecompanyisagentorprincipal:NoneOtherremarks:Apartfromtheaforesaidsubsidiaries,thecompanyhas596subsidaireisindirectlycontrolledbyit,whicharemainlydistributedinmorethan20Chineseprovincesandmunicipalities,SoutheastAsiancountriesandSouthAfrica,dealingwithfeedproduction,breedingandslaughtering,etc.(2)Importantnon-wholly-ownedsubsidiariesUnit:YuanNameofsubsidiaryShareholdingratioofminorityshareholdersCurrentprofitandlossattributabletominorityshareholdersCurrentdividendsdeclaredanddistributedtominorityshareholdersEndingbalanceofequitiesofminorityshareholdersNewHopeLiuheInvestmentCo.,Ltd25.00%296,962,650.690.005,027,397,859.81Remarksonshareholdingratioofminorityshareholdersinsubsidiariesdifferentfromratioofvotingpower:NoneOtherremarks:None(3)Keyfinancialinformationofimportantnon-wholly-ownedsubsidiariesUnit:YuanNameofsubsidiaryEndingbalanceCurrentassetsNoncurrentassetsTotalassetsCurrentliabilitiesNoncurrentliabilitiesTotalliabilitiesNewHopeLiuheInvestmentCo.,Ltd684,547,673.8119,709,930,404.4220,394,478,078.23355,000,000.000.00355,000,000.00NameofsubsidiaryBeginningbalanceCurrentassetsNoncurrentassetsTotalassetsCurrentliabilitiesNoncurrentliabilitiesTotalliabilitiesNewHopeLiuheInvestmentCo.,Ltd8,381,709.6319,268,359,126.8619,276,740,836.49355,000,000.000.00355,000,000.00Unit:YuanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd466NameofsubsidiaryCurrentamountincurredPrior-periodamountincurredBusinessrevenueNetprofitsTotalcomprehensiveincomeCashflowfromoperatingactivitiesBusinessrevenueNetprofitsTotalcomprehensiveincomeCashflowfromoperatingactivitiesNewHopeLiuheInvestmentCo.,Ltd1,187,850,602.741,114,730,593.74-315,159.761,324,380,759.601,356,493,430.60-5,723,558.46Otherremarks:None(4)SignificantrestrictionsonuseofassetsofbusinessgroupandsatisfactionofdebtsofbusinessgroupNone(5)FinancialorothersupportsprovidedtostructuredentitiesincludedinthescopeofconsolidatedfinancialstatementsNoneOtherremarks:None2.Transactionsinwhichthecompany’sshareofownershipinterestinasubsidiarychangesandthecompanystillcontrolsthesubsidiary(1)RemarksonchangesinshareofownershipinterestofsubsidiaryTheshareofownershipinterest(shareholdingratio)ofthecompanyanditssubsidiariesinsomeofrespectivesubsidiarieschangedinthisyear,withthechangesinsuchshareholdingratioandtheeffectsthereofonthecontrolofthecompanyasfollows:NameofsubsidiaryShareholdingratiobeforechange(%)Shareholdingratioafterchange(%)WhethertheshareholdingratiochangesresultedinlossofcontrolofthecompanyDateofequitypurchase/disposalDirectshareholdingIndirectshareholdingDirectshareholdingIndirectshareholdingJinanNewHopeLiuheFeedCo.,Ltd65100NoMarch2020TangshanLiuheFeedCo.,Ltd53100NoApril2020LiaoningXinwangTechnologyCo.,Ltd10076.71NoMay2020KangpingXinwangFarmingCo.,Ltd10076.92NoMay2020Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd467(2)EffectsoftransactiononminorityinterestandownershipinterestattributabletoparentcompanyUnit:YuanJinanNewHopeLiuheFeedCo.,LtdTangshanLiuheFeedCo.,LtdLiaoningXinwangTechnologyCo.,LtdKangpingXinwangFarmingCo.,Ltd-cash9,341,362.92799,000,000.00168,000,000.00Totalpurchasecost/disposalconsideration9,341,362.92799,000,000.00168,000,000.00Minus:shareofnetassetsinsubsidiarycalculatedattheshareholdingratioacquired/disposedof7,604,211.84-1,188,656.79406,195,596.0858,244,147.36Difference1,737,151.081,188,656.79392,804,403.92109,755,852.64Wherein:capitalreserveadjustment-1,737,151.08-1,188,656.79392,804,403.92109,755,852.64Otherremarks3.Interestsinjointventuresoraffiliates(1)ImportantjointventuresoraffiliatesNameofjointventureoraffiliatePrincipalplaceofbusinessPlaceofregistrationNatureofbusinessShareholdingratioAccountingtreatmentmethodforinvestmentsinjointventuresoraffiliatesDirectIndirectChinaMinshengBankingCorp.BeijingBeijingFinance4.18%EquitymethodNewHopeFinanceCo.,LtdChengdu,SichuanChengdu,SichuanFinance34.00%6.00%EquitymethodRemarksonshareholdingratioinjointventuresoraffiliatesdifferentfromvotingpowerNoneBasisforholdinglessthan20%votingpowerbutwithsignificantinfluenceorholding20%ormorevotingpowerbutwithoutsignificantinfluence:NewHopeLiuheInvestmentCo.,Ltd,amajority-ownedsubsidiary,holds1,828,327,362sharesinChinaMinshengBankingCorp.,withashareholdingratioof4.1759%,andthedirectorandactualcontrollerofthecompanyMr.LiuYonghaoservesasadirectorofChinaMinshengBankingCorp.;thecompanyhasthepowertoparticipateindecisionmakingofChinaMinshengBankingCorp.withrespecttofinancialandbusinesspolicies,andthisinvestmentisaccountedforundertheequitymethodduetosignificantinfluence.(2)KeyfinancialinformationofimportantjointventuresOtherremarksThecompanyhasnoimportantjointventures.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd468(3)KeyfinancialinformationofimportantaffiliatesUnit:YuanEndingbalance/currentamountincurredBeginningbalance/prioramountincurredChinaMinshengBankingCorp.NewHopeFinanceCo.,LtdChinaMinshengBankingCorp.NewHopeFinanceCo.,LtdCurrentassets774,010,000,000.0014,567,652,114.50755,036,000,000.009,003,610,802.43Noncurrentassets6,368,631,000,000.0025,092,088.365,926,805,000,000.006,904,854,545.00Totalassets7,142,641,000,000.0014,592,744,202.866,681,841,000,000.0015,908,465,347.43Currentliabilities5,774,302,000,000.0012,956,413,377.395,299,353,000,000.0014,355,577,653.36Noncurrentliabilities829,462,000,000.000.00851,659,000,000.00Totalliabilities6,603,764,000,000.0012,956,413,377.396,151,012,000,000.0014,355,577,653.36Minorityinterest11,460,000,000.000.0011,984,000,000.00Shareholderequityattributabletotheparentcompany527,417,000,000.001,636,330,825.47518,845,000,000.001,552,887,694.07Shareofnetassetscalculatedatshareholdingratio22,024,406,503.00654,532,330.2021,666,450,000.00621,155,077.63Bookvalueofequityinvestmentsinaffiliates19,694,901,284.11654,532,330.2019,253,326,942.05621,155,077.63Fairvalueofequityinvestmentsinaffiliatesforwhichtherearepublicoffers9,690,135,018.6011,536,745,654.22Businessrevenue98,108,000,000.00123,419,464.3088,256,000,000.00124,584,192.52Netprofits28,780,000,000.0083,443,131.4031,968,000,000.0088,788,935.75Othercomprehensiveincome-1,769,000,000.00837,000,000.00Totalcomprehensiveincome27,011,000,000.0083,443,131.4032,805,000,000.0088,788,935.75OtherremarksNone(4)SummaryfinancialinformationofunimportantjointventuresandaffiliatesUnit:YuanEndingbalance/currentamountincurredBeginningbalance/prioramountincurredJointventures:----Totalbookvalueofinvestments1,470,718,533.74358,231,038.03Totalamountofeachofthefollowingitemscalculatedbyshareholdingratio----Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd469-netprofits-19,654,492.40-1,644,332.60-totalcomprehensiveincome-19,654,492.40-1,644,332.60Affiliates:----Totalbookvalueofinvestments568,588,982.06517,961,212.34Totalamountofeachofthefollowingitemscalculatedbyshareholdingratio-----netprofits45,190,848.7061,255,475.61-totalcomprehensiveincome45,190,848.7061,255,475.61OtherremarksNone(5)RemarksonsignificantrestrictionsontheabilityofjointventuresoraffiliatestotransferfundstothecompanyNone(6)ExcesslossesincurredbyjointventuresoraffiliatesUnit:YuanNameofjointventureoraffiliateAccumulationofunrecognizedprioraccumulatedlossesLossesunrecognizedinthisperiod(ornetprofitssharesinthisperiod)AccumulatedunrecognizedlossesattheendofthisperiodNanjingHedaFoodCo.,Ltd-1,636,440.11-1,636,440.11TaishanJiaxinLogisticsCo.,Ltd-691,088.93-115,201.80-806,290.73OtherremarksNone(7)UnrecognizedcommitmentsrelatedtoinvestmentsinjointventuresNone(8)ContingentliabilitiesrelatedtoinvestmentsinjointventuresoraffiliatesNone4.InterestsinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatementsRelatedremarksonstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements:Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd4706.OthersX.RisksrelatedtofinancialinstrumentsThemainfinancialinstrumentsofthecompanyincludemonetaryfunds,accountsreceivable,notesreceivable,interestreceivable,dividendsreceivable,otherreceivables,othercurrentassets,held-for-tradingfinancialassetsandotherequityinstrumentinvestments,accountspayable,interestpayable,notespayable,payrollpayable,dividendspayable,otherpayables,short-termborrowings,held-for-tradingfinancialliabilities,noncurrentliabilitiesduewithinayear,long-termborrowings,bondspayableandlong-termpayables.Detailsofvariousfinancialinstrumentshavebeendisclosedinrelatednotes.Toreducerisksrelatedtofinancialinstruments,thecompanyformulatedcorrespondingriskmanagementpoliciesandsetupcorrespondingjobsorfunctionaldepartmentsinordertoensureitsriskmanagementobjectivesandpoliciesareeffectivelycarriedout;themanagementmanagesandmonitorstheseriskexposurestoensuretheaforesaidrisksarecontrolledwithinaspecifiedscope.1.CreditriskCreditriskreferstoariskthatthenon-performancebyapartytothefinancialinstrumentofitsobligationsmightcausefinancialriskstotheotherparty.Thecompanymainlyfacescustomercreditriskresultingfromcreditsales.Beforeexecutionofanewcontract,thecompanywouldassessthecreditriskofthenewcustomer,includingexternalcreditratingsandbankreferenceundercertaincircumstances(whensuchinformationisavailable).Thecompanyhassetacreditsalelimitforeachcustomer,whichisthemaximumamountthatrequiresnoadditionalapproval.2.MarketriskThemarketriskoffinancialinstrumentsrefertotheriskthatthefairvalueorfuturecashflowoffinancialinstrumentsmightfluctuateasaresultofchangingmarketprices,includingtheexchangeraterisk,interestraterisketc.3.InterestrateriskTheendingbankborrowingsofthecompanyaremainlysubjecttofixedinterestrates,andonlyasmallpartofshort-termborrowingsandpartoflong-termborrowingsaresubjecttofloatinginterestrates,buttheinterestratechangesareinsignificant,thereforethechangesinsuchinterestrateshavelimitedeffectsonthecompany.4.ForeignexchangeriskThecompanyinvestsandoperatesinseveralAsian,AfricanandEuropeancountries,withrevenuesalldenominatedinlocalcurrencies,butthefluctuationsoftheexchangeratesbetweenthesecurrenciesandRMBwillaffectthefiguresofoverseasrevenueandprofitsofthecompany;thecompanyhasmadeUSDfinancingthroughitsSingaporeanplatformforinvestmentinandoperationofoverseasoperatingarms,sothefluctuationsofexchangeratesbetweenUSDandoverseaslocalcurrencieswillbringexchangeincomeorloss;inaddition,itsoverseasoperatingarmspurchaserawmaterialsmainlyinUSD,sothefluctuationsofexchangeratesbetweenUSDandlocalcurrencieswillresultinchangesinpurchasecosts.ThecompanyhasestablishedadedicatedexchangeratemanagementteamonitsSingaporeanplatformtomanagethefluctuationsofexchangeratesbetweenrelatedcurrenciesinaunifiedmanner,tracktheeffectsofexchangeratechangesonitsbusinessperformanceandmanageexchangerisksbymeansofnaturalhedgingandpurchaseoffinancialderivatives.5.LiquidityriskLiquidityriskreferstoariskthatacompanymightincurshortageoffundswhenperformingitsobligationtosettleaccountsbydeliveringcashorotherfinancialassets.Itisthepolicyofthecompanytoensureithassufficientcashtorepaythedebtswhendue.Theliquidityriskiscentrallycontrolledbythecompany’sfinancedepartment.Thefinancedepartmentensuresthecompanyhassufficientfundstorepayitsdebtsinallreasonablypredictedcircumstancesbymonitoringthecashbalanceandreadilyrealizablevaluablesecuritiesandthroughrollingforecastofcashflowinthenext12months.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd471XI.Disclosureoffairvalue1.EndingfairvalueofassetsandliabilitiesmeasuredatfairvalueUnit:YuanItemEndingfairvalueMeasurementoffairvalueatthelevel1Measurementoffairvalueatthelevel2Measurementoffairvalueatthelevel3TotalI.Continuousmeasurementoffairvalue--------1.Financialassetsatfairvaluethroughprofitorloss5,420,609.765,420,609.76(3)Derivativefinancialassets5,420,609.765,420,609.76(III)Investmentsinotherequityinstruments318,276,827.48318,276,827.48Totalassetscontinuouslymeasuredatfairvalue5,420,609.76318,276,827.48323,697,437.24(VI)Held-for-tradingfinancialliabilities3,761,357.303,761,357.30Derivativefinancialliabilities3,761,357.303,761,357.30Totalliabilitiescontinuouslymeasuredatfairvalue3,761,357.303,761,357.30II.Non-continuousmeasurementoffairvalue--------2.Basisfordeterminationofmarketpricesofcontinuousandnon-continuouslevel1fairvaluemeasurementitemsThederivativefinancialassetsintheheld-for-tradingfinancialassetsarefuturescontractsandinterestrateswapspurchased,whicharerecognizedbasedontheendingquotationsprovidedbyfuturestradingcentersandothers.3.Qualitativeandquantitativeinformationaboutvaluationtechniquesandimportantparametersusedforcontinuousandnon-continuouslevel2fairvaluemeasurementitemsTheotherequityinstrumentinvestmentsofthecompanymeasuredatthelevel3fairvalueareequitiesheldbythecompanyinunlistedcompanies.Therewerenosignificantchangestotheoperatingenvironments,businessconditionandfinancialconditionofinvestees,sothecompanymeasuresatinvestmentcostasthereasonableestimateoffairvalue.XII.Relatedpartiesandrelated-partytransactions1.TheparentcompanyofthecompanyNameofparentcompanyPlaceofregistrationNatureofbusinessRegisteredcapitalShareholdingratiooftheparentcompanyinthiscompanyRatioofvotingpowerheldbytheparentcompanyinthiscompanyFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd472NewHopeGroupCo.,LtdChengduManagement800,000,000.0024.91%24.91%SouthHopeIndustrialCo.,LtdLhasa,TibetR&D,wholesaleandretail1,034,313,700.0029.21%29.21%RemarksontheparentcompanyofthiscompanyThecontrollingshareholderofthelargestshareholderofthecompanySouthHopeIndustrialCo.,LtdisthesecondlargestshareholderofthecompanyNewHopeGroupCo.,Ltd,sothecontrollingshareholderofthecompanyisNewHopeGroupCo.,Ltd,whiletheactualcontrollerofNewHopeGroupCo.,Ltd,thereforetheultimateactualcontrollerofthecompanyisLiuYonghao.TheultimatecontrollingpartyofthiscompanyisNewHopeGroupCo.,Ltd.Otherremarks:2.SubsidiariesofthiscompanyThesubsidiariesofthiscompanyaredetailedinNote9.(I)1“compositionofthebusinessgroup”.3.JointventuresandaffiliatesofthiscompanyTheimportantjointventuresandaffiliatesofthiscompanyaredetailedinNoteVII.9“long-termequityinvestments”.Otherjointventuresoraffiliatesthatincurredrelated-partytransactionswiththecompanyinthecurrentperiodorformedbalancesoutofpreviousrelated-partytransactionswiththecompanyaredetailedasfollows:NameofjointventureoraffiliateRelationshipwiththiscompanyQingdaoBigHerdsmanMachineryCo.,LtdAffiliateNanjingHedaFoodCo.,LtdAffiliateShanghaiLiuheQinqiangFoodCo.,LtdAffiliateAnhuiXinhuaDucksCo.,LtdAffiliateNewHopeFinanceCo.,LtdAffiliateQianxinanHopeFarmingCo.,LtdAffiliateHebeiKingheySausageCasingsCo.,LtdAffiliateNHE(Beijing)TechnologyCo.,LtdAffiliateAnhuiAntaiAgriculturalDevelopmentCo.,LtdAffiliateShandongHyporLiuheBreedingCo.,LtdAffiliateAnhuiXinqiaoDownCo.,LtdJointventureYananXinyongxiangTechnologyCo.,LtdJointventureQingdaoGanghangUnitedCommodityExchangeCo.,LtdAffiliateZhejiangDingyuFoodCo.,LtdAffiliateShanghaiDingyuFoodCo.,LtdAffiliateZhejiangYouyiFoodCo.,LtdAffiliateFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd473BeijingMeihaoMeidelingFoodCo.,LtdJointventureGuangdongHopeNo.1EquityInvestmentPartnership(LP)JointventureShenyagnNewHopeNewAgricultrualIndustryFundPartnership(LP)JointventureOtherremarks4.OtherrelatedpartiesNamesofotherrelatedpartiesRelationshipbetweenotherrelatedpartiesandthiscompanyBeijingPorridgeJiaheRestaurantManagementCo.,LtdAcompanycontrolledbyanaffiliateofthecontrollingshareholderBeijingWeilaiXingyuE-commerceCo.,LtdAcompanycontrolledbythesameactualcontrollerBeijingXinrongFreshLifeSupplyChainManagementCo.,LtdAcompanycontrolledbythesameactualcontrollerGrassGreenGroupCo.,Ltdandothermajority-ownedsubsidiariesAcompanycontrolledbythesameactualcontrollerChengduFreshLifeColdChainLogisticsCo.,LtdAcompanycontrolledbythesameactualcontrollerGuizhouShijiHuadingEnergyInvestmentCo.,LtdAcompanycontrolledbythesameactualcontrollerHaiyuanNewHopeAnimalHusbandryCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerHangzhouZhongyiEcologicalEnvironmentEngineeringCo.,LtdAcompanycontrolledbythesameactualcontrollerHebeiFreshLifeColdChainLogisticsCo.,LtdAcompanycontrolledbythesameactualcontrollerHuarongChemicalCo.,LtdAcompanycontrolledbythesameactualcontrollerJingyuanNewHopeAnimalHusbandryCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerLuliangNewHopeXuelanCowBreedingCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerChateland(Shanghai)FoodTechnologyCo.,LtdAcompanycontrolledbythesameactualcontrollerSouthHopeIndustrialCo.,Ltdandothermajority-ownedsubsidiariesAcompanycontrolledbythesameactualcontrollerGrainfinDataTechnology(Shanghai)Co.,LtdAcompanycontrolledbythesameactualcontrollerQingdaoFreshLifeTechnologyServiceCo.,LtdAcompanycontrolledbythesameactualcontrollerShandongWeipingAnimalHusbandryCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerShenyangXiantianshunSupplyChainManagementCo.,LtdAcompanycontrolledbythesameactualcontrollerShilinNewHopeXuelanAnimalHusbandryCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd474SichuanHuaxiGuoxingRealEstateCo.,LtdAcompanycontrolledbythesameactualcontrollerSichuanXinhuaxiDairyCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerSichuanXinrongNutritionTechnologyCo.,LtdAcompanycontrolledbythesameactualcontrollerSichuanXinshiZhuyiCateringServicesCo.,LtdAcompanycontrolledbythesameactualcontrollerSichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiariesAcompanycontrolledbythesameactualcontrollerSichuanNewHopeHuaxiAnimalHusbandryCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerSichuanNewHopeTradeCo.,LtdAcompanycontrolledbythesameactualcontrollerSichuanNewHopeDairyCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerSichuanNewHopeDairyCo.,LtdYongyaYangpingBranchAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerWuzhongNewHopeAnimalHusbandryCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerXichangNewHopeSanmuDairyCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerFreshLifeColdChainLogisticsCo.,LtdAcompanycontrolledbythesameactualcontrollerXinjiuCommercialDevelopmentCo.,LtdAcompanycontrolledbythesameactualcontrollerNewHope(Tianjin)CommercialFactoringCo.,LtdAcompanycontrolledbythesameactualcontrollerNewHopeChemicalInvestmentCo.,Ltdandothermajority-ownedsubsidiariesAcompanycontrolledbythesameactualcontrollerNewHopeHuinong(Tianjin)TechnologyCo,.LtdanditssubsidiariesAcompanycontrolledbythesameactualcontrollerNewHopeGroupCo.,Ltdanditsmajority-ownedsubsidiariesAcompanycontrolledbythesameactualcontrollerNewHopeDairyCo.,Ltdandothermajority-ownedsubsidiariesAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerNewHopeInvestmentGroupCo.,LtdanditssubsidiariesAcompanycontrolledbythesameactualcontrollerNewHopePropertyServiceGroupCo.,LtdAcompanycontrolledbythesameactualcontrollerNewHopeAssetManagementCo.,LtdAcompanycontrolledbythesameactualcontrollerXingyuanEnvironmentalTechnologyCo.,Ltdandothermajority-ownedsubsidiariesAcompanycontrolledbythesameactualcontrollerYunnanXinlongMineralFeedCo.,LtdAcompanycontrolledbythesameactualcontrollerYunnanNewHopeDiequanAnimalHusbandryCo.,LtdAcompanycontrolledbypersonsactinginconcertwiththeultimatecontrollerYunnanNewHopeXuelanAnimalHusbandryTechnologyCo.,AcompanycontrolledbypersonsactinginconcertwiththeFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd475LtdultimatecontrollerZhejiangSuperMaxEnvironmentalEngineeringCo.,LtdAcompanycontrolledbythesameactualcontrollerZhejiangYotanEnvironmentalTechnologyServiceCo.,LtdAcompanycontrolledbythesameactualcontrollerSichuanSanlejiangHealthProductTradeCo.,LtdAcompanycontrolledbythesameactualcontrollerSichuanChuanwaziFoodCo.,LtdAcompanycontrolledbythesameactualcontrollerOtherremarksHuarongChemicalCo.,LtdwasformerlyknownasChengduHuarongChemicalCo.,Ltd,whileNewHopePropertyServiceGroupCo.,LtdwasformerlyknownasSichuanDingshengPropertyServiceGroupCo.,Ltd.5.Related-partytransactions(1)Related-partytransactionsofpurchaseandsaleofgoodsandprovisionandreceiptofservicesStatementofpurchaseofgoods/receiptofservicesUnit:YuanRelatedpartyContentofrelated-partytransactionCurrentamountincurredTransactionlimitapprovedWhetherthetransactionlimitwasexceededPrior-periodamountincurredAnhuiAntaiAgriculturalDevelopmentCo.,LtdPurchaseofgoods13,418,550.00NewHopeDairyCo.,Ltdanditsmajority-ownedsubsidiariesPurchaseofgoods568,973.966,000,000.00No10,207,534.27QingdaoBigHerdsmanMachineryCo.,LtdEngineeringequipment692,231,901.90261,733,558.78BeijingPorridgeJiaheRestaurantManagementCo.,LtdPurchaseofgoods4,054,468.6525,000,000.00No4,406,254.84HuarongChemicalCo.,LtdPurchaseofgoods168,168.855,000,000.00NoSichuanNewHopeTradeCo.,LtdPurchaseofgoods1,489,060.705,000,000.00NoSichuanNewHopeDairyCo.,LtdPurchaseofgoods1,814,829.3720,000,000.00NoSouthHopeIndustrialCo.,Ltdandothermajority-ownedsubsidiariesPurchaseofgoods57,155.43SichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiariesPurchaseofgoods244,923.00ShandongHyporLiuheBreedingCo.,LtdPurchaseofgoods25,701,669.56HebeiKingheySausageCasingsCo.,LtdPurchaseof3,850.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd476goodsShanghaiLiuheQinqiangFoodCo.,LtdPurchaseofgoods1,211,937.5956,876,290.83NewHopeGroupCo.,Ltdanditsmajority-ownedsubsidiariesPurchaseofgoods42,480.005,000,000.00NoYunnanXinlongMineralFeedCo.,LtdPurchaseofgoods361,054.505,000,000.00NoYananXinyongxiangTechnologyCo.,LtdPurchaseofgoods11,088,187.60HangzhouZhongyiEcologicalEnvironmentEngineeringCo.,LtdCivilworks219,231,171.31800,000,000.00NoZhejiangSuperMaxEnvironmentalEngineeringCo.,LtdEcologicalremediationworks28,796,761.48100,000,000.00NoZhejiangYotanEnvironmentalTechnologyServiceCo.,LtdBreedingequipment696,000.00500,000,000.00NoBeijingWeilaiXingyuE-commerceCo.,LtdPurchaseofgoods108,980.00Chateland(Shanghai)FoodTechnologyCo.,LtdPurchaseofgoods1,960.00QingdaoFreshLifeTechnologyServiceCo.,LtdReceiptofservices86,924,405.34170,000,000.00No57,758,849.89GrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiariesReceiptofservices4,462,150.175,000,000.00No159,649.90GrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiariesPurchaseofgoods1,250,662.38BeijingXinrongFreshLifeSupplyChainManagementCo.,LtdReceiptofservices10,718,213.1518,000,000.00No7,574,349.39SichuanXinshiZhuyiCateringServicesCo.,LtdReceiptofservices555,580.006,000,000.00NoChengduFreshLifeColdChainLogisticsCo.,LtdReceiptofservices11,432,318.7512,000,000.00No6,803,275.76HebeiFreshLifeColdChainLogisticsCo.,LtdReceiptofservices5,716,051.286,200,000.00NoShenyangXiantianshunSupplyChainManagementCo.,LtdReceiptofservices1,140,400.335,000,000.00NoFreshLifeColdChainLogisticsCo.,LtdReceiptofservices2,500,000.00No760,068.70Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd477Total-1,123,380,925.30406,390,772.36Statementofsaleofgoods/provisionofservicesUnit:YuanRelatedpartyContentofrelated-partytransactionCurrentamountincurredPrior-periodamountincurredAnhuiAntaiAgriculturalDevelopmentCo.,LtdSaleofgoods16,560,687.1635,117,391.53AnhuiXinqiaoDownCo.,LtdSaleofgoods67,553,851.1224,930,360.48BeijingPorridgeJiaheRestaurantManagementCo.,LtdSaleofgoods11,166,412.1930,429,924.14GrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiariesSaleofgoods1,039,645.68GuangdongHopeNo.1EquityInvestmentPartnership(LP)Provisionofservices7,075,471.50GuizhouShijiHuadingEnergyInvestmentCo.,LtdSaleofgoods4,005.32HaiyuanNewHopeAnimalHusbandryCo.,LtdSaleofgoods6,368,521.06HebeiKingheySausageCasingsCo.,LtdSaleofgoods22,186,000.3525,403,335.88HuarongChemicalCo.,LtdSaleofgoods1,778,276.112,278,466.70JingyuanNewHopeAnimalHusbandryCo.,LtdSaleofgoods5,649,782.386,082,137.66LuliangNewHopeXuelanCowBreedingCo.,LtdSaleofgoods395,430.762,837,586.40SouthHopeIndustrialCo.,Ltdandothermajority-ownedsubsidiariesSaleofgoods594,555.30QianxinanHopeFarmingCo.,LtdSaleofgoods14,371.685,654.61QingdaoBigHerdsmanMachineryCo.,LtdSaleofgoods55,726.61ShandongHyporLiuheBreedingCo.,LtdSaleofgoods4,878,744.99ShandongWeipingAnimalHusbandryCo.,LtdSaleofgoods1,000,761.761,335,132.10ShanghaiDingyuFoodCo.,LtdSaleofgoods8,981,991.464,727.27ShanghaiLiuheQinqiangFoodCo.,LtdSaleofgoods339,206,830.96190,887,666.62ShenyagnNewHopeNewAgricultrualIndustryFundPartnership(LP)Provisionofservices3,396,226.41ShilinNewHopeXuelanAnimalHusbandryCo.,LtdSaleofgoods7,759,726.605,339,501.44SichuanXinhuaxiDairyCo.,LtdSaleofgoods182,656.96247,004.80SichuanXinrongNutritionTechnologyCo.,LtdSaleofgoods4,141,231.15937,396.59SichuanNewHopeHuaxiAnimalHusbandryCo.,LtdSaleofgoods2,811,605.941,704,518.68WuzhongNewHopeAnimalHusbandryCo.,LtdSaleofgoods466,841.044,682,873.98NewHopeInvestmentGroupCo.,LtdanditssubsidiariesSaleofgoods262,482.90382,595.18YananXinyongxiangTechnologyCo.,LtdSaleofgoods12,273,830.48Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd478YunnanNewHopeXuelanAnimalHusbandryTechnologyCo.,LtdSaleofgoods8,064,861.722,233,982.28ZhejiangDingyuFoodCo.,LtdSaleofgoods4,874,310.68452.59ZhejiangYouyiFoodCo.,LtdSaleofgoods3,320,213.02NewHopeFinanceCo.,LtdSaleofgoods743.36NewHopeGroupCo.,Ltdanditsmajority-ownedsubsidiariesSaleofgoods20,845.56289,396.48SichuanNewHopeTradeCo.,LtdSaleofgoods8,666.33XinjiuCommercialDevelopmentCo.,LtdSaleofgoods889,610.13NewHopeAssetManagementCo.,LtdSaleofgoods7,063.02YunnanNewHopeDiequanAnimalHusbandryCo.,LtdSaleofgoods2,906,927.34SichuanNewHopeDairyCo.,LtdSaleofgoods134,070.79SichuanNewHopeDairyCo.,LtdYongyaYangpingBranchSaleofgoods236,982.77GrainfinDataTechnology(Shanghai)Co.,LtdSaleofgoods25,700.35XichangNewHopeSanmuDairyCo.,LtdSaleofgoods48,600.00SichuanSanlejiangHealthProductTradeCo.,LtdSaleofgoods1,075,682.00SichuanChuanwaziFoodCo.,LtdSaleofgoods6,067,306.25Total549,228,887.10339,388,469.50Remarksonrelated-partytransactionsofpurchaseandsaleofgoodsandprovisionandreceiptofservices(2)Related-partyleasesThecompanyaslessor:Unit:YuanNameoflesseeCategoryofleasedassetsRentalrevenuerecognizedinthecurrentperiodRentalrevenuerecognizedinthepriorperiodNewHopeInvestmentGroupCo.,LtdanditssubsidiariesOfficebuildings30,000.00GrassGreenGroupCo.,Ltdandothermajority-ownedsubsidiariesOfficebuildings10,000.0020,000.00BeijingPorridgeJiaheRestaurantManagementCo.,LtdOfficebuildings148,545.50ShandongHyporLiuheBreedingCo.,LtdOfficebuildings1,503,000.00BeijingMeihaoMeidelingFoodCo.,LtdOfficebuildings1,164,952.36YananXinyongxiangTechnologyCo.,LtdPigfarms9,142,857.12SichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiariesOfficebuildings10,000.00Total12,009,354.9820,000.00Thecompanyaslessee:Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd479Unit:YuanNameoflessorCategoryofleasedassetsRentalexpenserecognizedinthecurrentperiodRentalexpenserecognizedinthepriorperiodSichuanXinhuaxiDairyCo.,LtdOfficebuildings1,876,572.001,865,444.73NewHopePropertyServiceGroupCo.,LtdOfficebuildings1,496,916.5350,406.10SichuanHuaxiGuoxingRealEstateCo.,LtdOfficebuildings530,332.301,158,110.01Total3,903,820.833,073,960.84Remarksonrelated-partyleases(3)Related-partyguaranteesThecompanyasguarantorUnit:YuanSecuredpartyAmountguaranteedStartdateofguaranteeExpirydateofguaranteeWhethertheperformanceofguaranteewascompletedNewHopeSingaporePte.Ltd4,753,369.80Tuesday,January21,2020Thursday,July09,2020NoNewHopeSingaporePte.Ltd4,952,000.00Thursday,January30,2020Saturday,July18,2020NoNewHopeSingaporePte.Ltd940,100.00Wednesday,February05,2020Friday,July24,2020NoNewHopeSingaporePte.Ltd675,000.00Monday,February17,2020Wednesday,August05,2020NoNewHopeSingaporePte.Ltd3,303,300.00Monday,March02,2020Wednesday,August19,2020NoNewHopeSingaporePte.Ltd3,660,500.00Tuesday,March03,2020Thursday,August20,2020NoNewHopeSingaporePte.Ltd1,259,500.00Wednesday,March11,2020Monday,September07,2020NoNewHopeSingaporePte.Ltd4,452,900.00Thursday,March12,2020Tuesday,September08,2020NoNewHopeSingaporePte.Ltd1,143,400.00Tuesday,March24,2020Thursday,September10,2020NoNewHopeSingaporePte.Ltd1,139,200.00Thursday,April09,2020Saturday,September26,2020NoNewHopeSingaporePte.Ltd1,377,300.00Wednesday,April15,2020Tuesday,July14,2020NoNewHopeSingaporePte.Ltd273,600.00Thursday,April16,Wednesday,July15,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd48020202020NewHopeSingaporePte.Ltd4,931,900.00Thursday,April16,2020Saturday,October03,2020NoNewHopeSingaporePte.Ltd62,942,900.00Thursday,April16,2020Wednesday,July15,2020NoNewHopeSingaporePte.Ltd4,879,100.00Friday,April17,2020Thursday,July16,2020NoNewHopeSingaporePte.Ltd2,361,400.00Friday,April17,2020Sunday,October04,2020NoNewHopeSingaporePte.Ltd3,090,100.00Tuesday,April21,2020Thursday,October08,2020NoNewHopeSingaporePte.Ltd8,845,000.00Friday,April24,2020Sunday,October11,2020NoNewHopeSingaporePte.Ltd581,400.00Monday,May04,2020Friday,July03,2020NoNewHopeSingaporePte.Ltd4,445,800.00Wednesday,May06,2020Sunday,July05,2020NoNewHopeSingaporePte.Ltd920,700.00Friday,May08,2020Thursday,August06,2020NoNewHopeSingaporePte.Ltd70,795,000.00Friday,May08,2020Sunday,August16,2020NoNewHopeSingaporePte.Ltd311,400.00Monday,May11,2020Friday,July10,2020NoNewHopeSingaporePte.Ltd1,719,700.00Tuesday,May12,2020Saturday,July11,2020NoNewHopeSingaporePte.Ltd3,828,500.00Thursday,May14,2020Wednesday,August12,2020NoNewHopeSingaporePte.Ltd7,277,900.00Thursday,May14,2020Monday,July13,2020NoNewHopeSingaporePte.Ltd6,125,200.00Monday,May18,2020Wednesday,November04,2020NoNewHopeSingaporePte.Ltd2,672,700.00Tuesday,May19,2020Saturday,July18,2020NoNewHopeSingaporePte.Ltd1,300,600.00Wednesday,May20,2020Tuesday,August18,2020NoNewHopeSingaporePte.Ltd18,286,600.00Wednesday,May20,2020Sunday,July19,2020NoNewHopeSingaporePte.Ltd743,500.00Friday,May22,Thursday,August20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd48120202020NewHopeSingaporePte.Ltd6,467,300.00Friday,May22,2020Tuesday,July21,2020NoNewHopeSingaporePte.Ltd2,476,400.00Friday,May22,2020Thursday,August20,2020NoNewHopeSingaporePte.Ltd3,939,700.00Monday,May25,2020Wednesday,November11,2020NoNewHopeSingaporePte.Ltd232,800.00Tuesday,May26,2020Monday,August24,2020NoNewHopeSingaporePte.Ltd311,400.00Tuesday,May26,2020Saturday,July25,2020NoNewHopeSingaporePte.Ltd240,800.00Wednesday,May27,2020Sunday,July26,2020NoNewHopeSingaporePte.Ltd778,100.00Monday,June01,2020Wednesday,July01,2020NoNewHopeSingaporePte.Ltd2,157,500.00Monday,June01,2020Wednesday,November18,2020NoNewHopeSingaporePte.Ltd988,400.00Monday,June01,2020Friday,July31,2020NoNewHopeSingaporePte.Ltd15,767,600.00Tuesday,June02,2020Thursday,November19,2020NoNewHopeSingaporePte.Ltd2,095,900.00Tuesday,June02,2020Thursday,November19,2020NoNewHopeSingaporePte.Ltd2,314,200.00Wednesday,June03,2020Sunday,August02,2020NoNewHopeSingaporePte.Ltd416,600.00Thursday,June04,2020Monday,August03,2020NoNewHopeSingaporePte.Ltd1,511,900.00Friday,June05,2020Thursday,September03,2020NoNewHopeSingaporePte.Ltd10,730,000.00Friday,June05,2020Tuesday,August04,2020NoNewHopeSingaporePte.Ltd665,700.00Tuesday,June09,2020Saturday,August08,2020NoNewHopeSingaporePte.Ltd812,300.00Tuesday,June09,2020Thursday,July09,2020NoNewHopeSingaporePte.Ltd18,422,000.00Thursday,June11,2020Monday,August10,2020NoNewHopeSingaporePte.Ltd1,448,600.00Friday,June12,Thursday,SeptemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd482202010,2020NewHopeSingaporePte.Ltd4,695,800.00Friday,June12,2020Sunday,November29,2020NoNewHopeSingaporePte.Ltd1,810,700.00Friday,June12,2020Thursday,September10,2020NoNewHopeSingaporePte.Ltd10,382,800.00Friday,June12,2020Tuesday,August11,2020NoNewHopeSingaporePte.Ltd2,957,300.00Friday,June12,2020Sunday,July12,2020NoNewHopeSingaporePte.Ltd346,500.00Wednesday,June17,2020Sunday,August16,2020NoNewHopeSingaporePte.Ltd405,300.00Thursday,June18,2020Saturday,July18,2020NoNewHopeSingaporePte.Ltd6,006,200.00Friday,June19,2020Sunday,December06,2020NoNewHopeSingaporePte.Ltd3,926,900.00Monday,June22,2020Wednesday,July22,2020NoNewHopeSingaporePte.Ltd16,860,600.00Monday,June22,2020Saturday,December19,2020NoNewHopeSingaporePte.Ltd1,257,800.00Monday,June22,2020Friday,August21,2020NoNewHopeSingaporePte.Ltd436,500.00Tuesday,June23,2020Thursday,December10,2020NoNewHopeSingaporePte.Ltd6,325,500.00Tuesday,June23,2020Saturday,August22,2020NoNewHopeSingaporePte.Ltd2,134,500.00Thursday,June25,2020Saturday,December12,2020NoNewHopeSingaporePte.Ltd4,729,700.00Friday,June26,2020Thursday,September24,2020NoNewHopeSingaporePte.Ltd3,736,800.00Monday,June29,2020Wednesday,July29,2020NoNewHopeSingaporePte.Ltd43,184,950.00Friday,June05,2020Saturday,June05,2021NoNewHopeSingaporePte.Ltd14,159,000.00Monday,June15,2020Tuesday,June15,2021NoNewHopeSingaporePte.Ltd212,385,000.00Tuesday,July05,2016Friday,September30,2022NoNewHopeSingaporePte.Ltd53,096,250.00Tuesday,July05,Tuesday,SeptemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd483201615,2020NewHopeSingaporePte.Ltd66,547,300.00Tuesday,December24,2019Thursday,December24,2020NoNewHopeSingaporePte.Ltd28,318,000.00Wednesday,January22,2020Friday,January22,2021NoNewHopeSingaporePte.Ltd21,238,500.00Friday,February07,2020Sunday,February07,2021NoNewHopeSingaporePte.Ltd9,203,350.00Monday,March16,2020Tuesday,March16,2021NoNewHopeSingaporePte.Ltd14,159,000.00Wednesday,June03,2020Thursday,June03,2021NoNewHopeSingaporePte.Ltd141,590,000.00Thursday,April09,2020Friday,April09,2021NoNewHopeSingaporePte.Ltd35,397,500.00Tuesday,July23,2019Thursday,July23,2020NoNewHopeSingaporePte.Ltd62,299,600.00Saturday,August03,2019Monday,August03,2020NoNewHopeSingaporePte.Ltd6,725,525.00Sunday,August04,2019Tuesday,August04,2020NoNewHopeSingaporePte.Ltd7,787,450.00Wednesday,August07,2019Friday,August07,2020NoNewHopeSingaporePte.Ltd63,715,500.00Saturday,August10,2019Monday,August10,2020NoNewHopeSingaporePte.Ltd141,590,000.00Saturday,November02,2019Monday,November02,2020NoNewHopeSingaporePte.Ltd70,795,000.00Saturday,March14,2020Sunday,March14,2021NoNewHopeSingaporePte.Ltd70,795,000.00Thursday,February13,2020Saturday,February13,2021NoNewHopeSingaporePte.Ltd141,590,000.00Sunday,March15,2020Monday,March15,2021NoNewHopeSingaporePte.Ltd16,282,850.00Sunday,April05,2020Monday,April05,2021NoNewHopeSingaporePte.Ltd35,397,500.00Monday,July08,2019Tuesday,July07,2020NoNewHopeSingaporePte.Ltd41,061,100.00Thursday,March12,2020Friday,March12,2021NoNewHopeSingaporePte.Ltd19,114,650.00Thursday,March12,Friday,March12,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd48420202021NewHopeSingaporePte.Ltd29,733,900.00Thursday,May28,2020Friday,May28,2021NoNewHopeSingaporePte.Ltd21,238,500.00Wednesday,April08,2020Thursday,April08,2021NoNewHopeSingaporePte.Ltd56,636,000.00Wednesday,March11,2020Thursday,March11,2021NoNewHopeSingaporePte.Ltd212,385,000.00Wednesday,February19,2020Friday,February19,2021NoSichuanNewHopeLiuheFarmingCo.,Ltd9,000,000.00Monday,February10,2020Sunday,January31,2021NoSichuanNewHopeLiuheFarmingCo.,Ltd20,000,000.00Monday,February10,2020Monday,January31,2022NoSichuanNewHopeLiuheFarmingCo.,Ltd160,000,000.00Monday,February10,2020Tuesday,January31,2023NoSichuanNewHopeLiuheFarmingCo.,Ltd190,000,000.00Thursday,February27,2020Saturday,February27,2021NoSichuanNewHopeLiuheFarmingCo.,Ltd420,000,000.00Tuesday,March24,2020Thursday,March24,2022NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches10,829,074.09Saturday,January04,2020Thursday,July09,2020NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches6,186,700.00Wednesday,January15,2020Friday,July10,2020NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches15,443,400.00Wednesday,January22,2020Thursday,July16,2020NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches10,125,000.00Thursday,May21,2020Tuesday,November17,2020NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches31,210,600.00Monday,May25,2020Friday,November20,2020NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches12,189,900.00Wednesday,May27,2020Monday,November23,2020NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches9,200,300.00Thursday,May28,2020Tuesday,November24,2020NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches20,349,500.00Wednesday,June03,2020Monday,November30,2020NoSichuanNewHopeLiuheFarmingCo.,LtdChengduBranches13,179,000.00Monday,June08,2020Friday,December04,2020NoSichuanNewHopeLiuheFarming20,190,500.00Wednesday,June10,Monday,DecemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd485Co.,LtdChengduBranches202007,2020LiaoningXinwangTechnologyCo.,Ltd598,400.00Friday,March27,2020Sunday,December20,2020NoLiaoningXinwangTechnologyCo.,Ltd1,000,000.00Friday,March27,2020Sunday,June20,2021NoLiaoningXinwangTechnologyCo.,Ltd1,000,000.00Friday,March27,2020Monday,December20,2021NoLiaoningXinwangTechnologyCo.,Ltd3,000,000.00Friday,March27,2020Monday,June20,2022NoLiaoningXinwangTechnologyCo.,Ltd2,386,700.00Friday,March27,2020Tuesday,December20,2022NoLiaoningXinwangTechnologyCo.,Ltd20,000,000.00Friday,March27,2020Tuesday,June20,2023NoLiaoningXinwangTechnologyCo.,Ltd12,533,800.00Friday,March27,2020Wednesday,December20,2023NoLiaoningXinwangTechnologyCo.,Ltd42,267,100.00Friday,March27,2020Thursday,June20,2024NoLiaoningXinwangTechnologyCo.,Ltd40,000,000.00Friday,March27,2020Friday,December20,2024NoLiaoningXinwangTechnologyCo.,Ltd44,282,700.00Friday,March27,2020Friday,June20,2025NoLiaoningXinwangTechnologyCo.,Ltd40,000,000.00Friday,March27,2020Saturday,December20,2025NoLiaoningXinwangTechnologyCo.,Ltd45,610,500.00Friday,March27,2020Saturday,June20,2026NoLiaoningXinwangTechnologyCo.,Ltd40,000,000.00Friday,March27,2020Sunday,December20,2026NoLiaoningXinwangTechnologyCo.,Ltd45,715,400.00Friday,March27,2020Sunday,June20,2027NoLiaoningXinwangTechnologyCo.,Ltd40,000,000.00Friday,March27,2020Monday,December20,2027NoLiaoningXinwangTechnologyCo.,Ltd47,605,400.00Friday,March27,2020Tuesday,June20,2028NoLiaoningXinwangTechnologyCo.,Ltd40,000,000.00Friday,March27,2020Wednesday,December20,2028NoLiaoningXinwangTechnologyCo.,Ltd10,000,000.00Friday,March27,2020Wednesday,June20,2029NoLiaoningXinwangTechnologyCo.,10,000,000.00Friday,March27,Thursday,DecemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd486Ltd202020,2029LiaoningXinwangTechnologyCo.,Ltd8,000,000.00Friday,March27,2020Wednesday,March27,2030NoXiajinNewHopeLiuheBreedingCo.,Ltd10,000,000.00Wednesday,November27,2019Sunday,November22,2020NoXiajinNewHopeLiuheFarmingCo.,Ltd59,000,000.00Friday,February28,2020Tuesday,February24,2026NoXiajinNewHopeLiuheFarmingCo.,Ltd12,000,000.00Thursday,March12,2020Tuesday,February24,2026NoXiajinNewHopeLiuheFarmingCo.,Ltd13,720,000.00Thursday,March26,2020Tuesday,February24,2026NoXiajinNewHopeLiuheFarmingCo.,Ltd13,710,000.00Thursday,March26,2020Tuesday,February24,2026NoYantingXinhaoFarmingCo.,Ltd500,000.00Monday,September30,2019Monday,September21,2020NoYantingXinhaoFarmingCo.,Ltd340,000.00Monday,September30,2019Sunday,March21,2021NoYantingXinhaoFarmingCo.,Ltd3,000,000.00Monday,September30,2019Tuesday,September21,2021NoYantingXinhaoFarmingCo.,Ltd340,000.00Monday,September30,2019Monday,March21,2022NoYantingXinhaoFarmingCo.,Ltd3,000,000.00Monday,September30,2019Wednesday,September21,2022NoYantingXinhaoFarmingCo.,Ltd1,170,000.00Monday,September30,2019Tuesday,March21,2023NoYantingXinhaoFarmingCo.,Ltd8,000,000.00Monday,September30,2019Thursday,September21,2023NoYantingXinhaoFarmingCo.,Ltd3,310,000.00Monday,September30,2019Thursday,March21,2024NoYantingXinhaoFarmingCo.,Ltd10,000,000.00Monday,September30,2019Monday,September30,2024NoYantingXinhaoFarmingCo.,Ltd1,500,000.00Monday,September30,2019Monday,September21,2020NoYantingXinhaoFarmingCo.,Ltd780,000.00Monday,September30,2019Sunday,March21,2021NoYantingXinhaoFarmingCo.,Ltd7,000,000.00Monday,September30,2019Tuesday,September21,2021NoYantingXinhaoFarmingCo.,Ltd780,000.00Monday,SeptemberMonday,March21,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd48730,20192022YantingXinhaoFarmingCo.,Ltd7,000,000.00Monday,September30,2019Wednesday,September21,2022NoYantingXinhaoFarmingCo.,Ltd1,390,000.00Monday,September30,2019Tuesday,March21,2023NoYantingXinhaoFarmingCo.,Ltd20,000,000.00Monday,September30,2019Thursday,September21,2023NoYantingXinhaoFarmingCo.,Ltd1,100,000.00Monday,September30,2019Thursday,March21,2024NoYantingXinhaoFarmingCo.,Ltd30,000,000.00Monday,September30,2019Monday,September30,2024NoYantingXinhaoFarmingCo.,Ltd500,000.00Monday,December30,2019Monday,September21,2020NoYantingXinhaoFarmingCo.,Ltd340,000.00Monday,December30,2019Sunday,March21,2021NoYantingXinhaoFarmingCo.,Ltd3,000,000.00Monday,December30,2019Tuesday,September21,2021NoYantingXinhaoFarmingCo.,Ltd340,000.00Monday,December30,2019Monday,March21,2022NoYantingXinhaoFarmingCo.,Ltd3,000,000.00Monday,December30,2019Wednesday,September21,2022NoYantingXinhaoFarmingCo.,Ltd1,170,000.00Monday,December30,2019Tuesday,March21,2023NoYantingXinhaoFarmingCo.,Ltd8,000,000.00Monday,December30,2019Thursday,September21,2023NoYantingXinhaoFarmingCo.,Ltd3,310,000.00Monday,December30,2019Thursday,March21,2024NoYantingXinhaoFarmingCo.,Ltd10,000,000.00Monday,December30,2019Monday,September30,2024NoSantaiNewHopeFarmingTechnologyCo.,Ltd10,000,000.00Friday,January03,2020Saturday,January02,2021NoNingmingXinhaoFarmingCo.,Ltd20,000,000.00Tuesday,April14,2020Wednesday,April13,2022NoNingmingXinhaoFarmingCo.,Ltd30,000,000.00Tuesday,April14,2020Thursday,April13,2023NoNingmingXinhaoFarmingCo.,Ltd30,000,000.00Tuesday,April14,2020Saturday,April13,2024NoNingmingXinhaoFarmingCo.,Ltd30,000,000.00Tuesday,April14,Sunday,April13,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd48820202025NingmingXinhaoFarmingCo.,Ltd30,000,000.00Tuesday,April14,2020Monday,April13,2026NoNingmingXinhaoFarmingCo.,Ltd15,000,000.00Tuesday,April14,2020Tuesday,April13,2027NoNingmingXinhaoFarmingCo.,Ltd15,000,000.00Tuesday,April14,2020Thursday,April13,2028NoNingmingXinhaoFarmingCo.,Ltd15,000,000.00Tuesday,April14,2020Friday,April13,2029NoNingmingXinhaoFarmingCo.,Ltd15,000,000.00Tuesday,April14,2020Saturday,April13,2030NoNingmingXinhaoFarmingCo.,Ltd5,000,000.00Friday,June12,2020Wednesday,April13,2022NoNingmingXinhaoFarmingCo.,Ltd7,500,000.00Friday,June12,2020Thursday,April13,2023NoNingmingXinhaoFarmingCo.,Ltd7,500,000.00Friday,June12,2020Saturday,April13,2024NoNingmingXinhaoFarmingCo.,Ltd7,500,000.00Friday,June12,2020Sunday,April13,2025NoNingmingXinhaoFarmingCo.,Ltd7,500,000.00Friday,June12,2020Monday,April13,2026NoNingmingXinhaoFarmingCo.,Ltd3,750,000.00Friday,June12,2020Tuesday,April13,2027NoNingmingXinhaoFarmingCo.,Ltd3,750,000.00Friday,June12,2020Thursday,April13,2028NoNingmingXinhaoFarmingCo.,Ltd3,750,000.00Friday,June12,2020Friday,April13,2029NoNingmingXinhaoFarmingCo.,Ltd3,750,000.00Friday,June12,2020Saturday,April13,2030NoNingmingXinhaoFarmingCo.,Ltd10,000,000.00Monday,June29,2020Wednesday,April13,2022NoNingmingXinhaoFarmingCo.,Ltd15,000,000.00Monday,June29,2020Thursday,April13,2023NoNingmingXinhaoFarmingCo.,Ltd15,000,000.00Monday,June29,2020Saturday,April13,2024NoNingmingXinhaoFarmingCo.,Ltd15,000,000.00Monday,June29,2020Sunday,April13,2025NoNingmingXinhaoFarmingCo.,Ltd15,000,000.00Monday,June29,Monday,April13,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd48920202026NingmingXinhaoFarmingCo.,Ltd7,500,000.00Monday,June29,2020Tuesday,April13,2027NoNingmingXinhaoFarmingCo.,Ltd7,500,000.00Monday,June29,2020Thursday,April13,2028NoNingmingXinhaoFarmingCo.,Ltd7,500,000.00Monday,June29,2020Friday,April13,2029NoNingmingXinhaoFarmingCo.,Ltd7,500,000.00Monday,June29,2020Saturday,April13,2030NoLaibinXinhaoFarmingCo.,Ltd100,000,000.00Tuesday,April21,2020Tuesday,April20,2021NoHuanghuaXinhaoTechnologyCo.,Ltd160,000,000.00Thursday,January02,2020Saturday,January01,2022NoHezhouXinhaoFarmingCo.,Ltd15,000,000.00Wednesday,April15,2020Wednesday,April13,2022NoHezhouXinhaoFarmingCo.,Ltd22,500,000.00Wednesday,April15,2020Thursday,April13,2023NoHezhouXinhaoFarmingCo.,Ltd22,500,000.00Wednesday,April15,2020Saturday,April13,2024NoHezhouXinhaoFarmingCo.,Ltd22,500,000.00Wednesday,April15,2020Sunday,April13,2025NoHezhouXinhaoFarmingCo.,Ltd22,500,000.00Wednesday,April15,2020Monday,April13,2026NoHezhouXinhaoFarmingCo.,Ltd11,250,000.00Wednesday,April15,2020Tuesday,April13,2027NoHezhouXinhaoFarmingCo.,Ltd11,250,000.00Wednesday,April15,2020Thursday,April13,2028NoHezhouXinhaoFarmingCo.,Ltd11,250,000.00Wednesday,April15,2020Friday,April13,2029NoHezhouXinhaoFarmingCo.,Ltd11,250,000.00Wednesday,April15,2020Saturday,April13,2030NoHezhouXinhaoFarmingCo.,Ltd500,000.00Friday,April24,2020Sunday,February20,2022NoHezhouXinhaoFarmingCo.,Ltd2,500,000.00Friday,April24,2020Wednesday,April13,2022NoHezhouXinhaoFarmingCo.,Ltd500,000.00Friday,April24,2020Monday,February20,2023NoHezhouXinhaoFarmingCo.,Ltd4,000,000.00Friday,April24,Thursday,April13,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd49020202023HezhouXinhaoFarmingCo.,Ltd500,000.00Friday,April24,2020Tuesday,February20,2024NoHezhouXinhaoFarmingCo.,Ltd4,000,000.00Friday,April24,2020Saturday,April13,2024NoHezhouXinhaoFarmingCo.,Ltd2,250,000.00Friday,April24,2020Thursday,February20,2025NoHezhouXinhaoFarmingCo.,Ltd2,250,000.00Friday,April24,2020Sunday,April13,2025NoHezhouXinhaoFarmingCo.,Ltd2,250,000.00Friday,April24,2020Friday,February20,2026NoHezhouXinhaoFarmingCo.,Ltd2,250,000.00Friday,April24,2020Monday,April13,2026NoHezhouXinhaoFarmingCo.,Ltd1,125,000.00Friday,April24,2020Saturday,February20,2027NoHezhouXinhaoFarmingCo.,Ltd1,125,000.00Friday,April24,2020Tuesday,April13,2027NoHezhouXinhaoFarmingCo.,Ltd1,125,000.00Friday,April24,2020Sunday,February20,2028NoHezhouXinhaoFarmingCo.,Ltd1,125,000.00Friday,April24,2020Thursday,April13,2028NoHezhouXinhaoFarmingCo.,Ltd1,125,000.00Friday,April24,2020Tuesday,February20,2029NoHezhouXinhaoFarmingCo.,Ltd1,125,000.00Friday,April24,2020Friday,April13,2029NoHezhouXinhaoFarmingCo.,Ltd2,250,000.00Friday,April24,2020Saturday,April13,2030NoLiaochengXinhaoFarmingCo.,Ltd508,217.81Thursday,December12,2019Friday,November22,2024NoLiaochengXinhaoFarmingCo.,Ltd508,300.00Thursday,December12,2019Friday,November22,2024NoLiaochengXinhaoFarmingCo.,Ltd508,300.00Thursday,December12,2019Friday,November22,2024NoLiaochengXinhaoFarmingCo.,Ltd508,300.00Thursday,December12,2019Friday,November22,2024NoLiaochengXinhaoFarmingCo.,Ltd508,300.00Thursday,December12,2019Friday,November22,2024NoLiaochengXinhaoFarmingCo.,Ltd508,300.00Thursday,DecemberFriday,NovemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd49112,201922,2024LiaochengXinhaoFarmingCo.,Ltd508,300.00Thursday,December12,2019Friday,November22,2024NoLiaochengXinhaoFarmingCo.,Ltd508,300.00Thursday,December12,2019Friday,November22,2024NoLiaochengXinhaoFarmingCo.,Ltd508,300.00Thursday,December12,2019Friday,November22,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd5,000,000.00Friday,December20,2019Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,Sunday,NovemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd492202024,2024LiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Friday,January03,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd3,000,000.00Thursday,February20,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,2020Sunday,November24,2024NoLiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,Sunday,NovemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd493202024,2024LiaochengXinhaoFarmingCo.,Ltd7,000,000.00Thursday,May28,2020Sunday,November24,2024NoTangshanXinhaoFarmingCo.,Ltd15,000,000.00Friday,April24,2020Saturday,October23,2021NoTangshanXinhaoFarmingCo.,Ltd15,000,000.00Friday,April24,2020Saturday,April23,2022NoTangshanXinhaoFarmingCo.,Ltd40,500,000.00Friday,April24,2020Sunday,October23,2022NoTangshanXinhaoFarmingCo.,Ltd40,500,000.00Friday,April24,2020Sunday,April23,2023NoTangshanXinhaoFarmingCo.,Ltd40,500,000.00Friday,April24,2020Monday,October23,2023NoTangshanXinhaoFarmingCo.,Ltd40,500,000.00Friday,April24,2020Tuesday,April23,2024NoTangshanXinhaoFarmingCo.,Ltd40,500,000.00Friday,April24,2020Wednesday,October23,2024NoTangshanXinhaoFarmingCo.,Ltd40,500,000.00Friday,April24,2020Wednesday,April23,2025NoTangshanXinhaoFarmingCo.,Ltd190,000.00Friday,May08,2020Tuesday,April27,2021NoTangshanXinhaoFarmingCo.,Ltd3,610,000.00Friday,May08,2020Wednesday,April27,2022NoTangshanXinhaoFarmingCo.,Ltd3,800,000.00Friday,May08,2020Thursday,October27,2022NoTangshanXinhaoFarmingCo.,Ltd3,800,000.00Friday,May08,2020Thursday,April27,2023NoTangshanXinhaoFarmingCo.,Ltd5,700,000.00Friday,May08,2020Friday,October27,2023NoTangshanXinhaoFarmingCo.,Ltd5,700,000.00Friday,May08,2020Saturday,April27,2024NoTangshanXinhaoFarmingCo.,Ltd7,600,000.00Friday,May08,2020Sunday,October27,2024NoTangshanXinhaoFarmingCo.,Ltd7,600,000.00Friday,May08,2020Sunday,April27,2025NoTangshanXinhaoFarmingCo.,Ltd9,500,000.00Friday,May08,2020Monday,October27,2025NoTangshanXinhaoFarmingCo.,Ltd9,500,000.00Friday,May08,Monday,April27,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd49420202026TangshanXinhaoFarmingCo.,Ltd11,400,000.00Friday,May08,2020Tuesday,October27,2026NoTangshanXinhaoFarmingCo.,Ltd11,400,000.00Friday,May08,2020Tuesday,April27,2027NoTangshanXinhaoFarmingCo.,Ltd17,100,000.00Friday,May08,2020Wednesday,October27,2027NoTangshanXinhaoFarmingCo.,Ltd17,100,000.00Friday,May08,2020Thursday,April27,2028NoTangshanXinhaoFarmingCo.,Ltd455,000.00Monday,May25,2020Tuesday,April27,2021NoTangshanXinhaoFarmingCo.,Ltd8,645,000.00Monday,May25,2020Wednesday,April27,2022NoTangshanXinhaoFarmingCo.,Ltd9,100,000.00Monday,May25,2020Thursday,October27,2022NoTangshanXinhaoFarmingCo.,Ltd9,100,000.00Monday,May25,2020Thursday,April27,2023NoTangshanXinhaoFarmingCo.,Ltd13,650,000.00Monday,May25,2020Friday,October27,2023NoTangshanXinhaoFarmingCo.,Ltd13,650,000.00Monday,May25,2020Saturday,April27,2024NoTangshanXinhaoFarmingCo.,Ltd18,200,000.00Monday,May25,2020Sunday,October27,2024NoTangshanXinhaoFarmingCo.,Ltd18,200,000.00Monday,May25,2020Sunday,April27,2025NoTangshanXinhaoFarmingCo.,Ltd22,750,000.00Monday,May25,2020Monday,October27,2025NoTangshanXinhaoFarmingCo.,Ltd22,750,000.00Monday,May25,2020Monday,April27,2026NoTangshanXinhaoFarmingCo.,Ltd27,300,000.00Monday,May25,2020Tuesday,October27,2026NoTangshanXinhaoFarmingCo.,Ltd27,300,000.00Monday,May25,2020Tuesday,April27,2027NoTangshanXinhaoFarmingCo.,Ltd40,950,000.00Monday,May25,2020Wednesday,October27,2027NoTangshanXinhaoFarmingCo.,Ltd40,950,000.00Monday,May25,2020Thursday,April27,2028NoCaoxianXinhaoFarmingCo.,Ltd8,768,004.73Tuesday,April28,Wednesday,AprilNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd495202020,2022CaoxianXinhaoFarmingCo.,Ltd17,536,000.00Tuesday,April28,2020Thursday,October20,2022NoCaoxianXinhaoFarmingCo.,Ltd26,304,000.00Tuesday,April28,2020Thursday,April20,2023NoCaoxianXinhaoFarmingCo.,Ltd35,072,000.00Tuesday,April28,2020Friday,October20,2023NoCaoxianXinhaoFarmingCo.,Ltd43,840,000.00Tuesday,April28,2020Saturday,April20,2024NoCaoxianXinhaoFarmingCo.,Ltd43,840,000.00Tuesday,April28,2020Sunday,October20,2024NoCaoxianXinhaoFarmingCo.,Ltd43,840,000.00Tuesday,April28,2020Saturday,April19,2025NoCaoxianXinhaoFarmingCo.,Ltd969,200.00Monday,May25,2020Wednesday,April20,2022NoCaoxianXinhaoFarmingCo.,Ltd1,938,400.00Monday,May25,2020Thursday,October20,2022NoCaoxianXinhaoFarmingCo.,Ltd2,907,600.00Monday,May25,2020Thursday,April20,2023NoCaoxianXinhaoFarmingCo.,Ltd3,876,800.00Monday,May25,2020Friday,October20,2023NoCaoxianXinhaoFarmingCo.,Ltd4,845,900.00Monday,May25,2020Saturday,April20,2024NoCaoxianXinhaoFarmingCo.,Ltd4,845,900.00Monday,May25,2020Sunday,October20,2024NoCaoxianXinhaoFarmingCo.,Ltd4,845,900.00Monday,May25,2020Saturday,April19,2025NoLaiyangXinhaoAnimalHusbandryCo.,Ltd1,000,000.00Thursday,April30,2020Tuesday,October20,2020NoLaiyangXinhaoAnimalHusbandryCo.,Ltd2,000,000.00Thursday,April30,2020Thursday,May20,2021NoLaiyangXinhaoAnimalHusbandryCo.,Ltd2,000,000.00Thursday,April30,2020Friday,November19,2021NoLaiyangXinhaoAnimalHusbandryCo.,Ltd10,000,000.00Thursday,April30,2020Friday,May20,2022NoLaiyangXinhaoAnimalHusbandryCo.,Ltd20,000,000.00Thursday,April30,2020Friday,November18,2022NoLaiyangXinhaoAnimalHusbandry35,000,000.00Thursday,April30,Friday,May19,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd496Co.,Ltd20202023LaiyangXinhaoAnimalHusbandryCo.,Ltd50,000,000.00Thursday,April30,2020Friday,November17,2023NoLaiyangXinhaoAnimalHusbandryCo.,Ltd60,000,000.00Thursday,April30,2020Monday,May20,2024NoLaiyangXinhaoAnimalHusbandryCo.,Ltd2,000,000.00Thursday,April30,2020Wednesday,November20,2024NoLaiyangXinhaoAnimalHusbandryCo.,Ltd15,000,000.00Thursday,April30,2020Friday,April18,2025NoShenzeNewHopeLiuheBreedingCo.,Ltd340,000.00Tuesday,May19,2020Tuesday,April20,2021NoShenzeNewHopeLiuheBreedingCo.,Ltd1,340,000.00Tuesday,May19,2020Sunday,June20,2021NoShenzeNewHopeLiuheBreedingCo.,Ltd1,670,000.00Tuesday,May19,2020Monday,December20,2021NoShenzeNewHopeLiuheBreedingCo.,Ltd3,340,000.00Tuesday,May19,2020Monday,June20,2022NoShenzeNewHopeLiuheBreedingCo.,Ltd3,340,000.00Tuesday,May19,2020Tuesday,December20,2022NoShenzeNewHopeLiuheBreedingCo.,Ltd5,000,000.00Tuesday,May19,2020Tuesday,June20,2023NoShenzeNewHopeLiuheBreedingCo.,Ltd5,000,000.00Tuesday,May19,2020Wednesday,December20,2023NoShenzeNewHopeLiuheBreedingCo.,Ltd10,000,000.00Tuesday,May19,2020Thursday,June20,2024NoShenzeNewHopeLiuheBreedingCo.,Ltd10,000,000.00Tuesday,May19,2020Friday,December20,2024NoShenzeNewHopeLiuheBreedingCo.,Ltd10,000,000.00Tuesday,May19,2020Friday,June20,2025NoShenzeNewHopeLiuheBreedingCo.,Ltd10,000,000.00Tuesday,May19,2020Saturday,December20,2025NoShenzeNewHopeLiuheBreedingCo.,Ltd10,000,000.00Tuesday,May19,2020Saturday,June20,2026NoShenzeNewHopeLiuheBreedingCo.,Ltd10,000,000.00Tuesday,May19,2020Sunday,December20,2026NoShenzeNewHopeLiuheBreedingCo.,Ltd6,670,000.00Tuesday,May19,2020Sunday,June20,2027NoShenzeNewHopeLiuheBreeding6,670,000.00Tuesday,May19,Monday,DecemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd497Co.,Ltd202020,2027ShenzeNewHopeLiuheBreedingCo.,Ltd6,630,000.00Tuesday,May19,2020Saturday,May06,2028NoShenzeNewHopeLiuheBreedingCo.,Ltd133,300.00Sunday,June28,2020Tuesday,April20,2021NoShenzeNewHopeLiuheBreedingCo.,Ltd533,300.00Sunday,June28,2020Sunday,June20,2021NoShenzeNewHopeLiuheBreedingCo.,Ltd666,700.00Sunday,June28,2020Monday,December20,2021NoShenzeNewHopeLiuheBreedingCo.,Ltd1,333,300.00Sunday,June28,2020Monday,June20,2022NoShenzeNewHopeLiuheBreedingCo.,Ltd1,333,300.00Sunday,June28,2020Tuesday,December20,2022NoShenzeNewHopeLiuheBreedingCo.,Ltd2,000,000.00Sunday,June28,2020Tuesday,June20,2023NoShenzeNewHopeLiuheBreedingCo.,Ltd2,000,000.00Sunday,June28,2020Wednesday,December20,2023NoShenzeNewHopeLiuheBreedingCo.,Ltd4,000,000.00Sunday,June28,2020Thursday,June20,2024NoShenzeNewHopeLiuheBreedingCo.,Ltd4,000,000.00Sunday,June28,2020Friday,December20,2024NoShenzeNewHopeLiuheBreedingCo.,Ltd4,000,000.00Sunday,June28,2020Friday,June20,2025NoShenzeNewHopeLiuheBreedingCo.,Ltd4,000,000.00Sunday,June28,2020Saturday,December20,2025NoShenzeNewHopeLiuheBreedingCo.,Ltd4,000,000.00Sunday,June28,2020Saturday,June20,2026NoShenzeNewHopeLiuheBreedingCo.,Ltd4,000,000.00Sunday,June28,2020Sunday,December20,2026NoShenzeNewHopeLiuheBreedingCo.,Ltd2,666,700.00Sunday,June28,2020Sunday,June20,2027NoShenzeNewHopeLiuheBreedingCo.,Ltd2,666,700.00Sunday,June28,2020Monday,December20,2027NoShenzeNewHopeLiuheBreedingCo.,Ltd2,666,700.00Sunday,June28,2020Saturday,May06,2028NoShenzeNewHopeLiuheBreedingCo.,Ltd130,000.00Tuesday,June30,2020Tuesday,April20,2021NoShenzeNewHopeLiuheBreeding520,000.00Tuesday,June30,Sunday,June20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd498Co.,Ltd20202021ShenzeNewHopeLiuheBreedingCo.,Ltd650,000.00Tuesday,June30,2020Monday,December20,2021NoShenzeNewHopeLiuheBreedingCo.,Ltd1,300,000.00Tuesday,June30,2020Monday,June20,2022NoShenzeNewHopeLiuheBreedingCo.,Ltd1,300,000.00Tuesday,June30,2020Tuesday,December20,2022NoShenzeNewHopeLiuheBreedingCo.,Ltd1,950,000.00Tuesday,June30,2020Tuesday,June20,2023NoShenzeNewHopeLiuheBreedingCo.,Ltd1,950,000.00Tuesday,June30,2020Wednesday,December20,2023NoShenzeNewHopeLiuheBreedingCo.,Ltd3,900,000.00Tuesday,June30,2020Thursday,June20,2024NoShenzeNewHopeLiuheBreedingCo.,Ltd3,900,000.00Tuesday,June30,2020Friday,December20,2024NoShenzeNewHopeLiuheBreedingCo.,Ltd3,900,000.00Tuesday,June30,2020Friday,June20,2025NoShenzeNewHopeLiuheBreedingCo.,Ltd3,900,000.00Tuesday,June30,2020Saturday,December20,2025NoShenzeNewHopeLiuheBreedingCo.,Ltd3,900,000.00Tuesday,June30,2020Saturday,June20,2026NoShenzeNewHopeLiuheBreedingCo.,Ltd3,900,000.00Tuesday,June30,2020Sunday,December20,2026NoShenzeNewHopeLiuheBreedingCo.,Ltd2,600,000.00Tuesday,June30,2020Sunday,June20,2027NoShenzeNewHopeLiuheBreedingCo.,Ltd2,600,000.00Tuesday,June30,2020Monday,December20,2027NoShenzeNewHopeLiuheBreedingCo.,Ltd2,600,000.00Tuesday,June30,2020Saturday,May06,2028NoHubeiXinhaoFarmingCo.,Ltd4,538,771.36Thursday,May28,2020Sunday,November21,2021NoHubeiXinhaoFarmingCo.,Ltd4,539,200.00Thursday,May28,2020Saturday,May21,2022NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Monday,November21,2022NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Sunday,May21,2023NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,Tuesday,NovemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd499202021,2023HubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Tuesday,May21,2024NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Thursday,November21,2024NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Wednesday,May21,2025NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Friday,November21,2025NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Thursday,May21,2026NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Saturday,November21,2026NoHubeiXinhaoFarmingCo.,Ltd12,766,500.00Thursday,May28,2020Thursday,May27,2027NoChangyiXinhaoAnimalHusbandryCo.,Ltd200,000.00Friday,June19,2020Sunday,December20,2020NoChangyiXinhaoAnimalHusbandryCo.,Ltd300,000.00Friday,June19,2020Sunday,June20,2021NoChangyiXinhaoAnimalHusbandryCo.,Ltd500,000.00Friday,June19,2020Monday,December20,2021NoChangyiXinhaoAnimalHusbandryCo.,Ltd1,000,000.00Friday,June19,2020Monday,June20,2022NoChangyiXinhaoAnimalHusbandryCo.,Ltd3,000,000.00Friday,June19,2020Tuesday,December20,2022NoChangyiXinhaoAnimalHusbandryCo.,Ltd35,000,000.00Friday,June19,2020Friday,June16,2023NoChangyiXinhaoAnimalHusbandryCo.,Ltd200,000.00Saturday,June20,2020Sunday,December20,2020NoChangyiXinhaoAnimalHusbandryCo.,Ltd300,000.00Saturday,June20,2020Sunday,June20,2021NoChangyiXinhaoAnimalHusbandryCo.,Ltd500,000.00Saturday,June20,2020Monday,December20,2021NoChangyiXinhaoAnimalHusbandryCo.,Ltd1,000,000.00Saturday,June20,2020Monday,June20,2022NoChangyiXinhaoAnimalHusbandryCo.,Ltd3,000,000.00Saturday,June20,2020Tuesday,December20,2022NoChangyiXinhaoAnimalHusbandry35,000,000.00Saturday,June20,Friday,June16,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd500Co.,Ltd20202023WulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Tuesday,September21,2021NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Monday,December20,2021NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Sunday,March20,2022NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Monday,June20,2022NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Tuesday,September20,2022NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Tuesday,December20,2022NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Monday,March20,2023NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Tuesday,June20,2023NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Wednesday,September20,2023NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Wednesday,December20,2023NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Wednesday,March20,2024NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Thursday,June20,2024NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Friday,September20,2024NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Friday,December20,2024NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Thursday,March20,2025NoWulianXinhaoFarmingCo.,Ltd2,375,000.00Wednesday,June24,2020Friday,June20,2025NoJiangyouNewHopeHyporSwineBreedingCo.,Ltd10,000,000.00Monday,June29,2020Monday,June28,2021NoGansuNewHopeLiuheFarmingCo.,Ltd3,751,700.00Monday,June29,2020Monday,December20,2021NoGansuNewHopeLiuheFarming3,750,000.00Monday,June29,Monday,June20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd501Co.,Ltd20202022GansuNewHopeLiuheFarmingCo.,Ltd7,500,000.00Monday,June29,2020Tuesday,December20,2022NoGansuNewHopeLiuheFarmingCo.,Ltd7,500,000.00Monday,June29,2020Tuesday,June20,2023NoGansuNewHopeLiuheFarmingCo.,Ltd7,500,000.00Monday,June29,2020Wednesday,December20,2023NoGansuNewHopeLiuheFarmingCo.,Ltd7,500,000.00Monday,June29,2020Thursday,June20,2024NoGansuNewHopeLiuheFarmingCo.,Ltd7,500,000.00Monday,June29,2020Friday,December20,2024NoGansuNewHopeLiuheFarmingCo.,Ltd7,500,000.00Monday,June29,2020Friday,June20,2025NoGansuNewHopeLiuheFarmingCo.,Ltd7,500,000.00Monday,June29,2020Saturday,December20,2025NoGansuNewHopeLiuheFarmingCo.,Ltd7,500,000.00Monday,June29,2020Saturday,June20,2026NoGansuNewHopeLiuheFarmingCo.,Ltd3,750,000.00Monday,June29,2020Sunday,December20,2026NoGansuNewHopeLiuheFarmingCo.,Ltd3,748,300.00Monday,June29,2020Tuesday,June29,2027NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd6,000,000.00Tuesday,June30,2020Sunday,June20,2021NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd6,000,000.00Tuesday,June30,2020Monday,December20,2021NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Monday,June20,2022NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Tuesday,December20,2022NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Tuesday,June20,2023NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Wednesday,December20,2023NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Thursday,June20,2024NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Friday,December20,2024NoXinhaoFuchengAgricultural11,000,000.00Tuesday,June30,Friday,June20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd502TechnologyCo.,Ltd20202025XinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Saturday,December20,2025NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Saturday,June20,2026NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd11,000,000.00Tuesday,June30,2020Sunday,December20,2026NoXinhaoFuchengAgriculturalTechnologyCo.,Ltd8,500,000.00Tuesday,June30,2020Sunday,June20,2027NoGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd3,000,000.00Tuesday,June30,2020Wednesday,June29,2022NoGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd4,500,000.00Tuesday,June30,2020Thursday,June29,2023NoGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd4,500,000.00Tuesday,June30,2020Saturday,June29,2024NoGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd4,500,000.00Tuesday,June30,2020Sunday,June29,2025NoGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd4,500,000.00Tuesday,June30,2020Monday,June29,2026NoGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd3,000,000.00Tuesday,June30,2020Tuesday,June29,2027NoGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd3,000,000.00Tuesday,June30,2020Thursday,June29,2028NoGuangyuanXinhaoAgriculturalDevelopmentCo.,Ltd3,000,000.00Tuesday,June30,2020Friday,June29,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Sunday,June20,2021NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Monday,December20,2021NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Monday,June20,2022NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Tuesday,December20,2022NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Tuesday,June20,2023NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Wednesday,December20,2023NoLaixiNewHopeLiuheFarmingCo.,350,000.00Friday,April17,Thursday,June20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd503Ltd20202024LaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Friday,December20,2024NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Friday,June20,2025NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Saturday,December20,2025NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Saturday,June20,2026NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Sunday,December20,2026NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Sunday,June20,2027NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Monday,December20,2027NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Tuesday,June20,2028NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Wednesday,December20,2028NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Wednesday,June20,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd350,000.00Friday,April17,2020Thursday,December20,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd41,416,000.00Friday,April17,2020Tuesday,April09,2030NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Sunday,June20,2021NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Monday,December20,2021NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Monday,June20,2022NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Tuesday,December20,2022NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Tuesday,June20,2023NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Wednesday,December20,2023NoLaixiNewHopeLiuheFarmingCo.,250,000.00Tuesday,May12,Thursday,June20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd504Ltd20202024LaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Friday,December20,2024NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Friday,June20,2025NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Saturday,December20,2025NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Saturday,June20,2026NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Sunday,December20,2026NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Sunday,June20,2027NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Monday,December20,2027NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Tuesday,June20,2028NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Wednesday,December20,2028NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Wednesday,June20,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd250,000.00Tuesday,May12,2020Thursday,December20,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd25,602,000.00Tuesday,May12,2020Tuesday,April09,2030NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Sunday,June20,2021NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Monday,December20,2021NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Monday,June20,2022NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Tuesday,December20,2022NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Tuesday,June20,2023NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Wednesday,December20,2023NoLaixiNewHopeLiuheFarmingCo.,50,000.00Monday,June22,Thursday,June20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd505Ltd20202024LaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Friday,December20,2024NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Friday,June20,2025NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Saturday,December20,2025NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Saturday,June20,2026NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Sunday,December20,2026NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Sunday,June20,2027NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Monday,December20,2027NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Tuesday,June20,2028NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Wednesday,December20,2028NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Wednesday,June20,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Monday,June22,2020Thursday,December20,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd987,338.83Monday,June22,2020Tuesday,April09,2030NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Sunday,June20,2021NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Monday,December20,2021NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Monday,June20,2022NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Tuesday,December20,2022NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Tuesday,June20,2023NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Wednesday,December20,2023NoLaixiNewHopeLiuheFarmingCo.,50,000.00Sunday,June28,Thursday,June20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd506Ltd20202024LaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Friday,December20,2024NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Friday,June20,2025NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Saturday,December20,2025NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Saturday,June20,2026NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Sunday,December20,2026NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Sunday,June20,2027NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Monday,December20,2027NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Tuesday,June20,2028NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Wednesday,December20,2028NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Wednesday,June20,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd50,000.00Sunday,June28,2020Thursday,December20,2029NoLaixiNewHopeLiuheFarmingCo.,Ltd28,109,200.00Sunday,June28,2020Tuesday,April09,2030NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Sunday,June20,2021NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Monday,December20,2021NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Monday,June20,2022NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Tuesday,December20,2022NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Tuesday,June20,2023NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Wednesday,December20,2023NoWuheNewHopeLiuheAnimal50,000.00Wednesday,May20,Thursday,June20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd507HusbandryCo.,Ltd20202024WuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Friday,December20,2024NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Friday,June20,2025NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Saturday,December20,2025NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Saturday,June20,2026NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd50,000.00Wednesday,May20,2020Sunday,December20,2026NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd26,933,479.13Wednesday,May20,2020Tuesday,May11,2027NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Sunday,June20,2021NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Monday,December20,2021NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Monday,June20,2022NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Tuesday,December20,2022NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Tuesday,June20,2023NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Wednesday,December20,2023NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Thursday,June20,2024NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Friday,December20,2024NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Friday,June20,2025NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Saturday,December20,2025NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Saturday,June20,2026NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd17,835,000.00Friday,May22,2020Sunday,December20,2026NoWuheNewHopeLiuheAnimal53,505,100.00Friday,May22,Friday,May14,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd508HusbandryCo.,Ltd20202027WuheNewHopeLiuheAnimalHusbandryCo.,Ltd6,393,700.00Thursday,June04,2020Friday,December03,2021NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd6,393,700.00Thursday,June04,2020Friday,June03,2022NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd6,393,700.00Thursday,June04,2020Saturday,December03,2022NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd6,393,700.00Thursday,June04,2020Saturday,June03,2023NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd6,393,700.00Thursday,June04,2020Sunday,December03,2023NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd6,393,700.00Thursday,June04,2020Monday,June03,2024NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd6,393,700.00Thursday,June04,2020Tuesday,December03,2024NoWuheNewHopeLiuheAnimalHusbandryCo.,Ltd6,393,700.00Thursday,June04,2020Tuesday,June03,2025NoRugaoXinhaoFarmingCo.,Ltd40,000,000.00Wednesday,May20,2020Wednesday,May19,2021NoDonghaiXinhaoFarmingCo.,Ltd30,000,000.00Monday,April27,2020Monday,April26,2021NoAnyueNewHopeLiuheFarmingCo.,Ltd50,000,000.00Thursday,June11,2020Thursday,June10,2021NoHainanChangjiangXinliuBreedingCo.,Ltd3,500,000.00Tuesday,March31,2020Thursday,April01,2021NoHainanChangjiangXinliuBreedingCo.,Ltd3,500,000.00Tuesday,March31,2020Saturday,November20,2021NoHainanChangjiangXinliuBreedingCo.,Ltd7,000,000.00Tuesday,March31,2020Friday,May20,2022NoHainanChangjiangXinliuBreedingCo.,Ltd7,000,000.00Tuesday,March31,2020Sunday,November20,2022NoHainanChangjiangXinliuBreedingCo.,Ltd7,000,000.00Tuesday,March31,2020Saturday,May20,2023NoHainanChangjiangXinliuBreedingCo.,Ltd7,000,000.00Tuesday,March31,2020Monday,November20,2023NoHainanChangjiangXinliuBreedingCo.,Ltd7,000,000.00Tuesday,March31,2020Monday,May20,2024NoHainanChangjiangXinliuBreeding7,000,000.00Tuesday,March31,Wednesday,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd509Co.,Ltd2020November20,2024HainanLingaoXinliuBreedingCo.,Ltd5,000,000.00Friday,March27,2020Sunday,March28,2021NoHainanLingaoXinliuBreedingCo.,Ltd5,000,000.00Friday,March27,2020Saturday,November20,2021NoHainanLingaoXinliuBreedingCo.,Ltd10,000,000.00Friday,March27,2020Friday,May20,2022NoHainanLingaoXinliuBreedingCo.,Ltd10,000,000.00Friday,March27,2020Sunday,November20,2022NoHainanLingaoXinliuBreedingCo.,Ltd10,000,000.00Friday,March27,2020Saturday,May20,2023NoHainanLingaoXinliuBreedingCo.,Ltd10,000,000.00Friday,March27,2020Monday,November20,2023NoHainanLingaoXinliuBreedingCo.,Ltd10,000,000.00Friday,March27,2020Monday,May20,2024NoHainanLingaoXinliuBreedingCo.,Ltd10,000,000.00Friday,March27,2020Wednesday,November20,2024NoHainanLingaoXinliuBreedingCo.,Ltd10,000,000.00Friday,March27,2020Tuesday,May20,2025NoHainanLingaoXinliuBreedingCo.,Ltd5,000,000.00Friday,March27,2020Thursday,November20,2025NoYanglingBesunAgriculturalIndustryGroupCo.,Ltd5,000,000.00Tuesday,September24,2019Sunday,September20,2020NoYanglingBesunAgriculturalIndustryGroupCo.,Ltd5,000,000.00Tuesday,September24,2019Sunday,December20,2020NoYanglingBesunAgriculturalIndustryGroupCo.,Ltd5,000,000.00Tuesday,September24,2019Sunday,June20,2021NoYanglingBesunAgriculturalIndustryGroupCo.,Ltd5,000,000.00Tuesday,September24,2019Monday,December20,2021NoYanglingBesunAgriculturalIndustryGroupCo.,Ltd10,000,000.00Tuesday,September24,2019Monday,June20,2022NoYanglingBesunAgriculturalIndustryGroupCo.,Ltd10,000,000.00Tuesday,September24,2019Tuesday,December20,2022NoYanglingBesunAgriculturalIndustryGroupCo.,Ltd10,000,000.00Tuesday,September24,2019Tuesday,June20,2023NoYanglingBesunAgriculturalIndustryGroupCo.,Ltd10,000,000.00Tuesday,September24,2019Wednesday,December20,2023NoYanglingBesunAgricultural40,000,000.00Tuesday,SeptemberMonday,SeptemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd510IndustryGroupCo.,Ltd24,201923,2024YijunXinliuTechnologyCo.,Ltd5,500,000.00Friday,November15,2019Sunday,November14,2021NoYijunXinliuTechnologyCo.,Ltd6,000,000.00Friday,November15,2019Friday,May20,2022NoYijunXinliuTechnologyCo.,Ltd6,000,000.00Friday,November15,2019Sunday,November20,2022NoYijunXinliuTechnologyCo.,Ltd6,500,000.00Friday,November15,2019Saturday,May20,2023NoYijunXinliuTechnologyCo.,Ltd6,500,000.00Friday,November15,2019Monday,November20,2023NoYijunXinliuTechnologyCo.,Ltd8,000,000.00Friday,November15,2019Monday,May20,2024NoYijunXinliuTechnologyCo.,Ltd8,000,000.00Friday,November15,2019Wednesday,November20,2024NoYijunXinliuTechnologyCo.,Ltd8,000,000.00Friday,November15,2019Tuesday,May20,2025NoYijunXinliuTechnologyCo.,Ltd8,000,000.00Friday,November15,2019Thursday,November20,2025NoYijunXinliuTechnologyCo.,Ltd9,000,000.00Friday,November15,2019Wednesday,May20,2026NoYijunXinliuTechnologyCo.,Ltd9,000,000.00Friday,November15,2019Friday,November20,2026NoYijunXinliuTechnologyCo.,Ltd9,500,000.00Friday,November15,2019Thursday,May20,2027NoYijunXinliuTechnologyCo.,Ltd9,500,000.00Friday,November15,2019Saturday,November20,2027NoYijunXinliuTechnologyCo.,Ltd9,000,000.00Friday,November15,2019Saturday,May20,2028NoYijunXinliuTechnologyCo.,Ltd9,000,000.00Friday,November15,2019Monday,November20,2028NoYijunXinliuTechnologyCo.,Ltd8,000,000.00Friday,November15,2019Sunday,May20,2029NoYijunXinliuTechnologyCo.,Ltd6,500,000.00Friday,November15,2019Tuesday,November20,2029NoYijunXinliuTechnologyCo.,Ltd1,500,000.00Sunday,January19,2020Tuesday,November20,2029NoYijunXinliuTechnologyCo.,Ltd8,000,000.00Sunday,January19,Monday,May20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd51120202030YijunXinliuTechnologyCo.,Ltd8,000,000.00Sunday,January19,2020Wednesday,November20,2030NoYijunXinliuTechnologyCo.,Ltd8,000,000.00Sunday,January19,2020Tuesday,May20,2031NoYijunXinliuTechnologyCo.,Ltd7,500,000.00Sunday,January19,2020Friday,November14,2031NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Tuesday,December24,2019Thursday,December23,2021NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Tuesday,December24,2019Friday,May20,2022NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Tuesday,December24,2019Sunday,November20,2022NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Tuesday,December24,2019Saturday,May20,2023NoWeinanXinliuTechnologyCo.,Ltd12,500,000.00Tuesday,December24,2019Monday,November20,2023NoWeinanXinliuTechnologyCo.,Ltd500,000.00Monday,December02,2019Monday,November20,2023NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Monday,December02,2019Monday,May20,2024NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Monday,December02,2019Wednesday,November20,2024NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Monday,December02,2019Tuesday,May20,2025NoWeinanXinliuTechnologyCo.,Ltd15,000,000.00Monday,December02,2019Thursday,November20,2025NoWeinanXinliuTechnologyCo.,Ltd15,000,000.00Monday,December02,2019Wednesday,May20,2026NoWeinanXinliuTechnologyCo.,Ltd500,000.00Monday,December02,2019Friday,November20,2026NoWeinanXinliuTechnologyCo.,Ltd12,500,000.00Tuesday,December17,2019Friday,November20,2026NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Tuesday,December17,2019Thursday,May20,2027NoWeinanXinliuTechnologyCo.,Ltd12,000,000.00Tuesday,December17,2019Saturday,November20,2027NoWeinanXinliuTechnologyCo.,Ltd12,000,000.00Tuesday,DecemberSaturday,May20,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd51217,20192028WeinanXinliuTechnologyCo.,Ltd11,000,000.00Tuesday,December17,2019Monday,November20,2028NoWeinanXinliuTechnologyCo.,Ltd11,000,000.00Tuesday,December17,2019Sunday,May20,2029NoWeinanXinliuTechnologyCo.,Ltd11,000,000.00Tuesday,December17,2019Tuesday,November20,2029NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Tuesday,December17,2019Monday,May20,2030NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Tuesday,December17,2019Wednesday,November20,2030NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Tuesday,December17,2019Tuesday,May20,2031NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Tuesday,December17,2019Tuesday,December23,2031NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Thursday,January02,2020Saturday,January01,2022NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Thursday,January02,2020Friday,May20,2022NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Thursday,January02,2020Sunday,November20,2022NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Thursday,January02,2020Saturday,May20,2023NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Thursday,January02,2020Monday,November20,2023NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Thursday,January02,2020Monday,May20,2024NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Thursday,January02,2020Wednesday,November20,2024NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Thursday,January02,2020Tuesday,May20,2025NoWeinanXinliuTechnologyCo.,Ltd15,000,000.00Thursday,January02,2020Thursday,November20,2025NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Thursday,January02,2020Wednesday,May20,2026NoWeinanXinliuTechnologyCo.,Ltd2,000,000.00Thursday,January02,2020Wednesday,May20,2026NoWeinanXinliuTechnologyCo.,Ltd13,000,000.00Thursday,JanuaryFriday,NovemberNoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd51302,202020,2026WeinanXinliuTechnologyCo.,Ltd13,000,000.00Thursday,January02,2020Thursday,May20,2027NoWeinanXinliuTechnologyCo.,Ltd2,000,000.00Thursday,January02,2020Saturday,November20,2027NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Sunday,January19,2020Saturday,November20,2027NoWeinanXinliuTechnologyCo.,Ltd9,000,000.00Sunday,January19,2020Saturday,May20,2028NoWeinanXinliuTechnologyCo.,Ltd3,000,000.00Sunday,January19,2020Saturday,May20,2028NoWeinanXinliuTechnologyCo.,Ltd11,000,000.00Sunday,January19,2020Monday,November20,2028NoWeinanXinliuTechnologyCo.,Ltd11,000,000.00Sunday,January19,2020Sunday,May20,2029NoWeinanXinliuTechnologyCo.,Ltd11,000,000.00Sunday,January19,2020Tuesday,November20,2029NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Sunday,January19,2020Monday,May20,2030NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Sunday,January19,2020Wednesday,November20,2030NoWeinanXinliuTechnologyCo.,Ltd10,000,000.00Sunday,January19,2020Tuesday,May20,2031NoWeinanXinliuTechnologyCo.,Ltd5,000,000.00Sunday,January19,2020Thursday,November20,2031NoWeinanXinliuTechnologyCo.,Ltd5,000,000.00Sunday,January19,2020Thursday,January01,2032NoNanningWumingDistrictXinliuFarmingTechnologyCo.,Ltd50,000,000.00Tuesday,June16,2020Wednesday,June16,2021NoDongeNewHopeLiuheSwineBreedingCo.,Ltd4,000,000.00Friday,May22,2020Friday,August21,2020NoDongeNewHopeLiuheSwineBreedingCo.,Ltd4,000,000.00Friday,May22,2020Saturday,November21,2020NoDongeNewHopeLiuheSwineBreedingCo.,Ltd6,000,000.00Friday,May22,2020Sunday,February21,2021NoDongeNewHopeLiuheSwineBreedingCo.,Ltd6,000,000.00Friday,May22,2020Friday,May21,2021NoDongeNewHopeLiuheSwine6,000,000.00Friday,May22,Saturday,August21,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd514BreedingCo.,Ltd20202021DongeNewHopeLiuheSwineBreedingCo.,Ltd6,000,000.00Friday,May22,2020Sunday,November21,2021NoDongeNewHopeLiuheSwineBreedingCo.,Ltd8,000,000.00Friday,May22,2020Monday,February21,2022NoDongeNewHopeLiuheSwineBreedingCo.,Ltd8,000,000.00Friday,May22,2020Saturday,May21,2022NoDongeNewHopeLiuheSwineBreedingCo.,Ltd10,000,000.00Friday,May22,2020Sunday,August21,2022NoDongeNewHopeLiuheSwineBreedingCo.,Ltd10,000,000.00Friday,May22,2020Monday,November21,2022NoDongeNewHopeLiuheSwineBreedingCo.,Ltd10,000,000.00Friday,May22,2020Tuesday,February21,2023NoDongeNewHopeLiuheSwineBreedingCo.,Ltd10,000,000.00Friday,May22,2020Sunday,May21,2023NoDongeNewHopeLiuheSwineBreedingCo.,Ltd10,000,000.00Friday,May22,2020Monday,August21,2023NoDongeNewHopeLiuheSwineBreedingCo.,Ltd10,000,000.00Friday,May22,2020Tuesday,November21,2023NoDongeNewHopeLiuheSwineBreedingCo.,Ltd10,000,000.00Friday,May22,2020Wednesday,February21,2024NoDongeNewHopeLiuheSwineBreedingCo.,Ltd10,000,000.00Friday,May22,2020Tuesday,May21,2024NoDongeNewHopeLiuheSwineBreedingCo.,Ltd16,000,000.00Friday,May22,2020Wednesday,August21,2024NoDongeNewHopeLiuheSwineBreedingCo.,Ltd16,000,000.00Friday,May22,2020Thursday,November21,2024NoDongeNewHopeLiuheSwineBreedingCo.,Ltd20,000,000.00Friday,May22,2020Friday,February21,2025NoDongeNewHopeLiuheSwineBreedingCo.,Ltd20,000,000.00Friday,May22,2020Wednesday,May21,2025NoHengnanMuyunEco-agricultureCo.,Ltd2,000,000.00Tuesday,May19,2020Wednesday,May18,2022NoHengnanMuyunEco-agricultureCo.,Ltd3,000,000.00Tuesday,May19,2020Thursday,May18,2023NoHengnanMuyunEco-agricultureCo.,Ltd3,000,000.00Tuesday,May19,2020Saturday,May18,2024NoHengnanMuyunEco-agriculture3,000,000.00Tuesday,May19,Sunday,May18,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd515Co.,Ltd20202025HengnanMuyunEco-agricultureCo.,Ltd3,000,000.00Tuesday,May19,2020Monday,May18,2026NoHengnanMuyunEco-agricultureCo.,Ltd2,000,000.00Tuesday,May19,2020Tuesday,May18,2027NoHengnanMuyunEco-agricultureCo.,Ltd2,000,000.00Tuesday,May19,2020Thursday,May18,2028NoHengnanMuyunEco-agricultureCo.,Ltd2,000,000.00Tuesday,May19,2020Friday,May18,2029NoHengnanMuyunEco-agricultureCo.,Ltd6,000,000.00Thursday,May21,2020Friday,May20,2022NoHengnanMuyunEco-agricultureCo.,Ltd9,000,000.00Thursday,May21,2020Saturday,May20,2023NoHengnanMuyunEco-agricultureCo.,Ltd9,000,000.00Thursday,May21,2020Monday,May20,2024NoHengnanMuyunEco-agricultureCo.,Ltd9,000,000.00Thursday,May21,2020Tuesday,May20,2025NoHengnanMuyunEco-agricultureCo.,Ltd9,000,000.00Thursday,May21,2020Wednesday,May20,2026NoHengnanMuyunEco-agricultureCo.,Ltd6,000,000.00Thursday,May21,2020Thursday,May20,2027NoHengnanMuyunEco-agricultureCo.,Ltd6,000,000.00Thursday,May21,2020Saturday,May20,2028NoHengnanMuyunEco-agricultureCo.,Ltd6,000,000.00Thursday,May21,2020Sunday,May20,2029NoBijieXinliuFarmingCo.,Ltd8,800,000.00Tuesday,May19,2020Tuesday,May18,2021NoBijieXinliuFarmingCo.,Ltd13,200,000.00Tuesday,May19,2020Wednesday,May18,2022NoBijieXinliuFarmingCo.,Ltd13,200,000.00Tuesday,May19,2020Thursday,May18,2023NoBijieXinliuFarmingCo.,Ltd13,200,000.00Tuesday,May19,2020Saturday,May18,2024NoBijieXinliuFarmingCo.,Ltd13,200,000.00Tuesday,May19,2020Sunday,May18,2025NoBijieXinliuFarmingCo.,Ltd8,800,000.00Tuesday,May19,2020Monday,May18,2026NoBijieXinliuFarmingCo.,Ltd8,800,000.00Tuesday,May19,Tuesday,May18,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd51620202027BijieXinliuFarmingCo.,Ltd8,800,000.00Tuesday,May19,2020Thursday,May18,2028NoBeijingXinliuFarmingTechnologyCo.,Ltd15,000,000.00Tuesday,June30,2020Thursday,December30,2021NoBeijingXinliuFarmingTechnologyCo.,Ltd15,000,000.00Tuesday,June30,2020Thursday,June30,2022NoBeijingXinliuFarmingTechnologyCo.,Ltd18,000,000.00Tuesday,June30,2020Friday,December30,2022NoBeijingXinliuFarmingTechnologyCo.,Ltd18,000,000.00Tuesday,June30,2020Friday,June30,2023NoBeijingXinliuFarmingTechnologyCo.,Ltd21,000,000.00Tuesday,June30,2020Saturday,December30,2023NoBeijingXinliuFarmingTechnologyCo.,Ltd21,000,000.00Tuesday,June30,2020Sunday,June30,2024NoBeijingXinliuFarmingTechnologyCo.,Ltd2,000,000.00Tuesday,June30,2020Monday,December30,2024NoJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd7,000,000.00Wednesday,June24,2020Friday,November20,2020NoJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd7,000,000.00Wednesday,June24,2020Thursday,May20,2021NoJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd21,000,000.00Wednesday,June24,2020Saturday,November20,2021NoJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd21,000,000.00Wednesday,June24,2020Friday,May20,2022NoJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd35,000,000.00Wednesday,June24,2020Sunday,November20,2022NoJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd35,000,000.00Wednesday,June24,2020Saturday,May20,2023NoJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd7,000,000.00Wednesday,June24,2020Monday,November20,2023NoJiaxiangNewHopeLiuheSwineBreedingCo.,Ltd1,000,000.00Wednesday,June24,2020Monday,June10,2024NoHebeiKingheyMeatIndustryCo.,Ltd150,000,000.00Wednesday,April01,2020Wednesday,March31,2021NoLiaoningKingheyFoodCo.,Ltd50,000,000.00Wednesday,August07,2019Thursday,August06,2020NoBeijingKingheyFoodCo.,Ltd100,000,000.00Wednesday,MarchThursday,March04,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd51704,20202021BeijingKingheyFoodCo.,Ltd30,000,000.00Wednesday,March18,2020Wednesday,March17,2021NoBeijingKingheyFoodCo.,Ltd1,250,000.00Friday,June12,2020Tuesday,November30,2021NoBeijingKingheyFoodCo.,Ltd1,250,000.00Friday,June12,2020Tuesday,May31,2022NoBeijingKingheyFoodCo.,Ltd5,000,000.00Friday,June12,2020Wednesday,November30,2022NoBeijingKingheyFoodCo.,Ltd5,000,000.00Friday,June12,2020Wednesday,May31,2023NoBeijingKingheyFoodCo.,Ltd8,750,000.00Friday,June12,2020Thursday,November30,2023NoBeijingKingheyFoodCo.,Ltd8,750,000.00Friday,June12,2020Friday,May31,2024NoChongqingGuoxiongFeedCo.,Ltd30,000,000.00Thursday,April16,2020Thursday,April15,2021NoChongqingNewHopeFeedCo.,Ltd50,000,000.00Wednesday,April08,2020Thursday,April08,2021NoChongqingNewHopeFeedCo.,Ltd50,000,000.00Thursday,April23,2020Friday,April23,2021NoNingxiaNewHopeRuminantAnimalNutritiousFoodCo.,Ltd50,000,000.00Friday,May29,2020Saturday,May29,2021NoNanningNewHopeFarmingTechnologyCo.,Ltd50,000,000.00Friday,May22,2020Wednesday,May19,2021NoNanningNewHopeFarmingTechnologyCo.,Ltd100,000,000.00Tuesday,June23,2020Wednesday,May19,2021NoLiuheFeed(Huaian)Co.,Ltd25,000,000.00Thursday,June18,2020Thursday,June03,2021NoYanshiLiuheFeedCo.,Ltd40,000,000.00Tuesday,March24,2020Wednesday,March24,2021NoAnyangNewHopeLiuheFeedCo.,Ltd20,000,000.00Monday,April27,2020Tuesday,April27,2021NoGushiLiuheCo,Ltd26,000,000.00Thursday,April30,2020Friday,April30,2021NoJiangmenLiuheFeedCo.,Ltd100,000,000.00Thursday,February20,2020Friday,February19,2021NoGuangzhouLiuheFeedCo.,Ltd60,000,000.00Friday,February21,Sunday,February21,NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd51820202021XiantaoLiuheFeedCo.,Ltd9,000,000.00Wednesday,March18,2020Wednesday,March17,2021NoXiantaoLiuheFeedCo.,Ltd11,000,000.00Wednesday,March25,2020Wednesday,March24,2021NoXiangyangNewHopeLiuheFeedCo.,Ltd9,000,000.00Thursday,March26,2020Thursday,March25,2021NoXiangyangNewHopeLiuheFeedCo.,Ltd9,000,000.00Tuesday,April14,2020Friday,April16,2021NoHubeiTuanfengNewHopeFeedCo.,Ltd10,000,000.00Tuesday,March17,2020Tuesday,March16,2021NoHubeiTuanfengNewHopeFeedCo.,Ltd20,000,000.00Thursday,March19,2020Thursday,March18,2021NoHuanggangNewHopeFeedTechnologyCo.,Ltd15,000,000.00Monday,March16,2020Monday,March15,2021NoHuanggangNewHopeFeedTechnologyCo.,Ltd25,000,000.00Tuesday,March24,2020Tuesday,March23,2021NoJinzhouNewHopeFeedCo.,Ltd6,000,000.00Sunday,March15,2020Sunday,March14,2021NoJinzhouNewHopeFeedCo.,Ltd23,000,000.00Friday,March20,2020Friday,March19,2021NoJinzhouNewHopeFeedCo.,Ltd6,000,000.00Monday,April13,2020Monday,April12,2021NoShandongNewHopeLiuheGroupCo.,Ltd100,000,000.00Friday,November22,2019Sunday,November21,2021NoShandongNewHopeLiuheGroupCo.,Ltd40,000,000.00Wednesday,April29,2020Saturday,April29,2023NoJiangxiNewHopeFarmingTechnologyCo.,Ltd20,000,000.00Tuesday,June30,2020Wednesday,June30,2021NoLhasaNewHopeIndustrialCo.,Ltd2,970,000.00Friday,December20,2019Sunday,December20,2020NoLhasaNewHopeIndustrialCo.,Ltd1,430,000.00Monday,December23,2019Sunday,December20,2020NoTotal9,827,980,080.75ThecompanyassecuredpartyUnit:YuanGuarantorAmountguaranteedStartdateofguaranteeExpirydateofguaranteeWhethertheperformanceofguaranteewasFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd519completedSouthHopeIndustrialCo.,Ltd2,430,000.00Friday,December20,2019Sunday,December20,2020NoSouthHopeIndustrialCo.,Ltd1,170,000.00Monday,December23,2019Sunday,December20,2020NoTotal3,600,000.00Remarksonrelated-partyguaranteesGuaranteesprovidedbetweensubsidiaries:NameofguarantorNameofsecuredpartyAmountguaranteedStartdateofguaranteeExpirydateofguaranteeWhethertheperformanceofguaranteewascompletedShandongNewHopeLiuheGroupCo.,LtdFuxinLiuheFarmingCo.,Ltd50,000,000.00April2,2020April12020NoNewHopeSingaporePte.LtdNewHopeIsabelaAgricultureInc.4,267,425.30May29,2020August28,2020NoNewHopeSingaporePte.LtdNewHopeIsabelaAgricultureInc.21,337,126.50June10,2020September10,2020NoNewHopeSingaporePte.LtdNewHopeCentralLuzonAgricultureInc.77,309,110.57May20,2020August20,2020NoNewHopeSingaporePte.LtdNewHopeCentralLuzonAgricultureInc.5,649,717.51April17,2020June17,2020NoNewHopeSingaporePte.LtdNewHopeCentralLuzonAgricultureInc.5,649,717.51May5,2020June7,2020NoNewHopeSingaporePte.LtdNewHopeCentralLuzonAgricultureInc.5,649,717.51May18,2020August18,2020NoNewHopeSingaporePte.LtdNewHopeCentralLuzonAgricultureInc.7,062,146.89May11,2020August11,2020NoNewHopeSingaporePte.LtdNewHopeCentralLuzonAgricultureInc.5,649,717.51June18,2020September18,2020NoNewHopeSingaporePte.LtdNewHopeTarlacAgricultureInc.2,845,000.00May18,2020August17,2020NoNewHopeSingaporePte.LtdNewHopeTarlacAgricultureInc.4,267,400.00May19,2020August18,2020NoNewHopeSingaporePte.LtdNewHopeTarlacAgricultureInc.11,379,700.00May26,2020August28,2020NoNewHopeSingaporePte.LtdNewHopeTarlacAgricultureInc.25,177,786.77March28,2020August28,2020NoNewHopeSingaporePte.LtdNewHopeTarlacAgricultureInc.8,534,900.00June2,2020September2,2020NoFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd520NewHopeSingaporePte.LtdNewHopeTarlacAgricultureInc.8,534,900.00June18,2020September18,2020NoNewHopeSingaporePte.LtdNewHopeBulacanAgricultureInc.76,813,655.40June5,2020September7,2020NoTotal320,128,021.49(4)RemunerationofkeymanagersUnit:YuanItemCurrentamountincurredPrior-periodamountincurredTotalremunerationofkeymanagers21,489,154.0019,173,006.856.Receivablesandpayablesfromandtorelatedparties(1)ReceivablesUnit:YuanProjectnameRelatedpartyEndingbalanceBeginningbalanceBookbalanceBaddebtprovisionBookbalanceBaddebtprovisionAccountsreceivableBeijingPorridgeJiaheRestaurantManagementCo.,Ltd13,171,601.04306,761.2713,717,539.12179,699.77AccountsreceivableGrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiaries2,475,687.2532,431.601,269,187.8116,626.35AccountsreceivableGuangdongHopeNo.1EquityInvestmentPartnership(LP)15,225,000.00622,005.007,725,000.00101,197.50AccountsreceivableSouthHopeIndustrialCo.,Ltdandothermajority-ownedsubsidiaries305,204.213,998.20AccountsreceivableNanjingHedaFoodCo.,Ltd26,309,974.1826,309,974.1826,309,974.1826,309,974.18AccountsreceivableShanghaiLiuheQinqiangFoodCo.,Ltd673,310.958,820.37AccountsreceivableSichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiaries5,345.0070.02791,246.0010,365.32AccountsreceivableNewHopeGroupCo.,Ltd1,950.0025.55411,037.875,384.60AccountsreceivableNewHopeDairyCo.,Ltdandothermajority-ownedsubsidiaries172,929.522,265.38AccountsreceivableZhejiangDingyuFoodCo.,Ltd132,161.281,731.31Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd521AccountsreceivableZhejiangYouyiFoodCo.,Ltd152,076.001,992.20AccountsreceivableNewHopeFinanceCo.,Ltd4,200.0055.02AccountsreceivableJingyuanNewHopeAnimalHusbandryCo.,Ltd107,607.501,409.66AccountsreceivableShandongHyporLiuheBreedingCo.,Ltd125,000.001,637.50AccountsreceivableNewHopeChemicalInvestmentCo.,Ltdandothermajority-ownedsubsidiaries8,000.00104.80NotesreceivableGrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiaries12,449,000.00NotesreceivableHuarongChemicalCo.,Ltd400,000.00PrepaymentsGrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiaries98,400.014,945.00PrepaymentsQingdaoBigHerdsmanMachineryCo.,Ltd18,972,058.53436,155.24PrepaymentsNewHopeFinanceCo.,Ltd52,533,518.4843,249,166.97PrepaymentsNewHopeDairyCo.,Ltdandothermajority-ownedsubsidiaries499.5058,139.60PrepaymentsShanghaiLiuheQinqiangFoodCo.,Ltd43,790.00PrepaymentsNewHope(Tianjin)CommercialFactoringCo.,Ltd10,000.00PrepaymentsSichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiaries344,350.65OtherreceivablesBeijingMeihaoMeidelingFoodCo.,Ltd137,828.886,960.36606,416.0081,805.52OtherreceivablesGrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiaries50,000.002,525.0050,000.002,525.00OtherreceivablesGuangdongHopeNo.1EquityInvestmentPartnership(LP)5,300.00267.65OtherreceivablesSichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiaries65,000.0017,868.5057,387.002,898.04OtherreceivablesNewHopePropertyServiceGroupCo.,Ltd15,000.00757.50OtherreceivablesAnhuiXinqiaoDownCo.,Ltd20,000,000.002,698,000.00InterestreceivableNewHopeFinanceCo.,Ltd25,323,361.1150,810,305.55OthernoncurrentassetsQingdaoBigHerdsmanMachineryCo.,Ltd41,163,136.34OthernoncurrentassetsShandongHyporLiuheBreedingCo.,Ltd284,000.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd522OthernoncurrentassetsXingyuanEnvironmentalTechnologyCo.,Ltdandothermajority-ownedsubsidiaries21,814,425.99(2)PayablesUnit:YuanProjectnameRelatedpartyEndingbookbalanceBeginningbookbalanceAccountspayableBeijingPorridgeJiaheRestaurantManagementCo.,Ltd1,281,003.10552,100.66AccountspayableGrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiaries15,287,811.581,498,672.99AccountspayableHebeiKingheySausageCasingsCo.,Ltd3,850.00AccountspayableSouthHopeIndustrialCo.,Ltdandothermajority-ownedsubsidiaries189,320.34AccountspayableQingdaoBigHerdsmanMachineryCo.,Ltd100,584,073.9571,161,972.66AccountspayableShandongHyporLiuheBreedingCo.,Ltd749,475.00215,000.00AccountspayableShanghaiLiuheQinqiangFoodCo.,Ltd76,134.07151,987.45AccountspayableNewHopeFinanceCo.,Ltd111,392.318,380.56AccountspayableNewHopeDairyCo.,Ltdandothermajority-ownedsubsidiaries192,151.212,521.00AccountspayableXingyuanEnvironmentalTechnologyCo.,Ltdandothermajority-ownedsubsidiaries104,878,811.54NotespayableSouthHopeIndustrialCo.,Ltdandothermajority-ownedsubsidiaries2,478,534.00NotespayableSichuanNewHopeTradeCo.,Ltd1,556,800.00ContractliabilitiesAnhuiXinhuaDucksCo.,Ltd61,350.00ContractliabilitiesGrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiaries18,410.85ContractliabilitiesHebeiKingheySausageCasingsCo.,Ltd188,907.48ContractliabilitiesSouthHopeIndustrialCo.,Ltdandothermajority-ownedsubsidiaries100,012.40Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd523ContractliabilitiesQingdaoBigHerdsmanMachineryCo.,Ltd9,284.13ContractliabilitiesQingdaoGanghangUnitedCommodityExchangeCo.,Ltd224,422.00ContractliabilitiesShandongHyporLiuheBreedingCo.,Ltd250,900.68ContractliabilitiesShanghaiLiuheQinqiangFoodCo.,Ltd6,556,551.63ContractliabilitiesShenyagnNewHopeNewAgricultrualIndustryFundPartnership(LP)8,400,000.00ContractliabilitiesSichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiaries20,193.00ContractliabilitiesNewHopeGroupCo.,Ltd120,234.70ContractliabilitiesNewHopeDairyCo.,Ltdandothermajority-ownedsubsidiaries50,966.91ContractliabilitiesYananXinyongxiangTechnologyCo.,Ltd2,475,966.60ContractliabilitiesZhejiangDingyuFoodCo.,Ltd400.80ContractliabilitiesZhejiangYouyiFoodCo.,Ltd378,756.48AdvancereceiptsHebeiKingheySausageCasingsCo.,Ltd132,660.43AdvancereceiptsGrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiaries35,411.18AdvancereceiptsShanghaiLiuheQinqiangFoodCo.,Ltd5,188,888.35AdvancereceiptsNewHopeGroupCo.,Ltd666.00AdvancereceiptsNewHopeDairyCo.,Ltdandothermajority-ownedsubsidiaries67,497.01AdvancereceiptsQingdaoBigHerdsmanMachineryCo.,Ltd327,897.93AdvancereceiptsShandongHyporLiuheBreedingCo.,Ltd36,412.40AdvancereceiptsSouthHopeIndustrialCo.,Ltdandothermajority-ownedsubsidiaries20,280.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd524AdvancereceiptsYananXinyongxiangTechnologyCo.,Ltd1,263,815.80AdvancereceiptsSichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiaries23,800.00AdvancereceiptsZhejiangDingyuFoodCo.,Ltd5,755.68OtherpayablesAnhuiXinhuaDucksCo.,Ltd9,071,000.00OtherpayablesGrassGreenGroupCo.,Ltdanditsmajority-ownedsubsidiaries1,200,299.76OtherpayablesSouthHopeIndustrialCo.,Ltd143,998,704.00143,998,704.00OtherpayablesQingdaoBigHerdsmanMachineryCo.,Ltd2,955,885.04963,950.00OtherpayablesNewHopeFinanceCo.,Ltd92,509.361,016,500.00OtherpayablesSichuanNewHopeRealEstateDevelopmentCo.,Ltdandothermajority-ownedsubsidiaries117,777.46117,777.46OtherpayablesNewHopeGroupCo.,Ltd1,300,000,000.00OtherpayablesNewHopeDairyCo.,Ltdandothermajority-ownedsubsidiaries60,455.0032,493.00OtherpayablesNHE(Beijing)TechnologyCo.,Ltd609,910.31609,910.31OtherpayablesXingyuanEnvironmentalTechnologyCo.,Ltdandothermajority-ownedsubsidiaries4,750,000.00OtherpayablesYananXinyongxiangTechnologyCo.,Ltd1,500,000.001,500,000.00OtherpayablesHebeiKingheySausageCasingsCo.,Ltd3,850.00DividendspayableNewHopeGroupCo.,Ltd89,500,000.0089,500,000.00Long-termpayablesNewHopeFinanceCo.,Ltd6,000,000.007.Commitmentsofrelatedparties8.OthersXIII.Share-basedpayment1.Overviewofshare-basedpayments√Applicable□NotapplicableUnit:YuanTotalamountofvariousequityinstrumentsofthecompanygrantedinthecurrentperiod0.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd525Totalamountofvariousequityinstrumentsofthecompanyexercisedinthecurrentperiod0.00Totalamountofvariousequityinstrumentsofthecompanylapsedinthecurrentperiod0.00RangeofexercisepriceandremainingtermofcontractforstockoptionsofthecompanyissuedandoutstandingattheendofperiodTheexercisepriceofstockoptionsis16.62Yuanpershare;thetermofstockoptionssfromthedateofcompletionofgrantregistrationtothedateofexerciseofallstockoptionsorcancellation,subjecttothemaximumof36months;after12monthsofthedateofcompletionofgrantregistrationofstockoptions,incentiverecipientswhomettheexerciseconditionsmayexercisetheirstockoptionsintwophasesatarateof50%and50%inthenext24months.RangeofexercisepricesandremainingtermsofcontractforotherequityinstrumentsofthecompanyissuedandoutstandingattheendofperiodThegrantpriceofrestrictedstockis8.31Yuanpershare;thetermofrestrictedstockisfromthedateofcompletionofgrantregistrationtothedateofunlockingofallrestrictedstocksorrepurchaseandcancellation,subjecttothemaximumof60months;after12monthsofthedateofcompletionofgrantregistration,incentiverecipientswhomettheunlockingconditionsmayhavetheirrestrictedstocksunlockedinfourphasesataratioof25%,25%,25%and25%inthenext48months.Otherremarks(1)Decision-makingprocedureperformedunderthestockincentiveplanOnMay8,2019,thecompanyheldthe44thmeetingofits7thboardofdirectorsandthe15thmeetingofits7thboardofsupervisors,wherethe“Proposalregardingthe2019RestrictedStockandStockOptionIncentivePlan(Draft)anditsSummaryofNewHopeLiuheCo,.Ltd”,the“ProposalregardingMeasuresforAppraisalManagementofthe2019RestrictedStockandStockOptionIncentivePlanofNewHopeLiuheCo,.Ltd”andthe“ProposalregardingRequestingGeneralMeetingtoAuthorizeBoardofDirectorstoHandleMattersRelatedtoStockIncentive”weredeliberatedandpassed.OnJune6,2019,thecompanyheldthefirstextraordinarygeneralmeetingof2019,wheretheaforesaidproposalsweredeliberatedandpassed.OnJuly4,2019,thecompanyheldthe2ndmeetingofits8thboardofdirectorsandthe2ndmeetingofits8thboardofsupervisors,wherethe“ProposalregardingGrantofRestrictedStocksandStockOptionstoIncentiveRecipients”wasdeliberatedandpassed.(2)Thesourceofstocks,incentiverecipientsandthedateoffirstgrantunderthestockincentiveplanThesourceofstocksforthepresentstockincentiveplanisAordinarysharesofthecompanyrepurchasedfromthesecondarymarket;thetotalnumberofincentiverecipientswhowerefirstgrantedstockincentiveunderthisstockincentiveplanwas24,includingseniormanagersofthecompanyanditsbranchesandsubsidiariesandothercoremanagers/techniciansthattheboardofdirectorsdeemedtohavedirecteffectsonthecompany’sbusinessperformanceandfuturedevelopment;thedateoffirstgrantofrestrictedstockandstockoptionswasJuly18,2019.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd5262.Share-basedpaymentssettledinequities√Applicable□NotapplicableUnit:YuanMethodfordeterminationoffairvalueofequityinstrumentsatthegrantdateThefairvalueofequityinstrumentsatthegrantdatewasdeterminedbasedonBlack-Scholespricingmodel.BasisofdeterminationofthenumberofvestedequityinstrumentsEstimatedbasedontheachievementofperformanceconditionsofthecompanyandpersonalperformanceappraisalresults,ofwhichthecompany’sperformanceconditionsincludebusinessrevenueandoperatingnetprofitgrowthindicators.Causesofsignificantdifferencebetweenthecurrentestimatesandprior-periodestimatesNoneAccumulatedamountofshare-basedpaymentsettledinequitieschargedtocapitalreserve38,822,044.13Totalexpensesrecognizedforshare-basedpaymentsettledinequitiesinthecurrentperiod16,367,653.81Otherremarks3.Share-basedpaymentsettledincash□Applicable√Notapplicable4.Modificationstoandterminationofshare-basedpaymentNone5.OthersNoneXIV.Commitmentsandcontingencies1.ImportantcommitmentsImportantcommitmentsexistingatthebalancesheetdateAsofJune30,2020,thecompanyhadnoimportantexternalcommitmentstobedisclose.2.Contingencies(1)ImportantcontingenciesexistingatthebalancesheetdateThecompanyhadnoimportantcontingenciestodisclose.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd527(2)Ifthecompanyhasnoimportantcontingenciestodisclose,stateaccordingly:Thecompanyhadnoimportantcontingenciestodisclose.3.OthersXV.Eventsafterthebalancesheetdate1.Importantnon-adjustmenteventsUnit:YuanItemContentAmountofeffectsonfinancialconditionandbusinessresultsCausesofinabilitytoestimatetheamountofeffects.IssueofstocksandbondsNoneImportantexternalinvestmentsNoneImportantdebtreorganizationsNoneNaturaldisastersNoneImportantchangesinforeignexchangerateNoneXVI.Otherimportantevents1.Segmentinformation(1)BasisofdeterminationofreportingsegmentsandtheiraccountingpoliciesThecompanydeterminesoperatingsegmentsbasedoninternalorganizationalstructure,managementrequirementsandinternalreportingpolicies,whichrefertothecomponentsthatmeetallofthefollowingconditions:1)suchcomponentscangeneraterevenueandincurexpensesinday-to-dayactivities;2)thecompanymanagementcanevaluatethebusinessresultsofsuchcomponentsonaregularbasistodetermineallocationofresourcestothemandevaluatetheirperformance;3)thefinancialcondition,businessresults,cashflowandotherrelatedaccountinginformationaboutsuchcomponentsareavailable.Thecompanyclassifiesitssegmentinformationbyregionandindustry.(2)FinancialinformationofreportingsegmentsUnit:YuanItemOverseasDomesticTotalInter-segmentoffsetTotalBusinessrevenue4,696,266,485.3439,999,773,878.7444,696,040,364.0844,696,040,364.08Operatingcosts3,979,952,984.6234,903,273,733.1338,883,226,717.7538,883,226,717.75Totalassets12,478,153,097.28199,409,880,332.02211,888,033,429.30120,594,881,418.9691,293,152,010.34Totalliabilities9,280,167,235.86139,863,685,849.27149,143,853,085.1395,322,472,170.4753,821,380,914.66Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd528(3)OtherremarksSegmentinformationdeterminedtobereportedbasedonindustrydistributionItemBusinessrevenueOperatingcostsTotalassetsTotalliabilitiesFeed22,585,863,819.3020,807,326,263.0124,227,935,675.3619,325,296,226.39Poultrybusiness9,078,957,817.318,601,173,581.668,734,933,073.826,124,510,650.75Pigbusiness6,947,750,208.953,987,807,520.1152,418,278,685.8539,743,634,879.61Food4,135,206,512.583,666,360,058.565,795,883,067.204,123,506,515.96Commerceandtrade1,721,078,828.701,628,727,448.9610,994,958,757.8411,888,336,401.69Others227,183,177.24191,831,845.45109,716,044,169.2367,938,568,410.73Total44,696,040,364.0838,883,226,717.75211,888,033,429.30149,143,853,085.13Minus:internaloffset120,594,881,418.9695,322,472,170.47Totalafteroffset44,696,040,364.0838,883,226,717.7591,293,152,010.3453,821,380,914.662.OtherimportanttransactionsandeventsthataffecttheinvestordecisionsTherearenoothereventstodisclose.3.OthersTherearenoothereventstodisclose.XVII.Notestokeyitemsoffinancialstatementsoftheparentcompany1.Accountsreceivable(1)AccountsreceivabledisclosedbycategoryUnit:YuanCategoryEndingbalanceBeginningbalanceBookbalanceBaddebtprovisionBookvalueBookbalanceBaddebtprovisionBookvalueAmountProportionAmountProportionaccruedAmountProportionAmountProportionaccruedAccountsreceivableforwhichbaddebtprovisionisaccruedbyindividualitem304,806.0014.33%304,806.00100.00%304,806.0016.46%304,806.00100.00%Wherein:Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd529Accountsreceivableforwhichbaddebtprovisionisaccruedbycombination1,821,588.9285.67%703,826.7938.64%1,117,762.131,546,588.9283.54%72,202.454.67%1,474,386.47Wherein:Total2,126,394.92100.00%1,008,632.7947.43%1,117,762.131,851,394.92100.00%377,008.4520.36%1,474,386.47Baddebtprovisionaccruedbyindividualitem:accountsreceivableforwhichbaddebtprovisionisaccruedbeyondthecompanypolicyUnit:YuanNameEndingbalanceBookbalanceBaddebtprovisionProportionaccruedReasonsforaccrualWangXianhuai118,046.00118,046.00100.00%ByrecoverableamountlowerthanbookvalueXiaoChengpu90,803.0090,803.00100.00%ByrecoverableamountlowerthanbookvalueLiuTianbo55,656.0055,656.00100.00%ByrecoverableamountlowerthanbookvalueWangYong40,301.0040,301.00100.00%ByrecoverableamountlowerthanbookvalueTotal304,806.00304,806.00----Baddebtprovisionaccruedbycombination:domesticaccountsreceivableforwhichbaddebtprovisionisaccruedbycombinationUnit:YuanNameEndingbalanceBookbalanceBaddebtprovisionProportionaccruedLowrisk487,000.006,379.701.31%Lowerrisk683,481.9246,340.096.78%Highrisk651,107.00651,107.00100.00%Total1,821,588.92703,826.79--RemarksonbasisfordeterminationofthiscombinationForaccountsreceivableclassifiedasriskcombination,thecompanypreparesthetableofcomparisonbetweenagesofaccountsreceivableandexpectedcreditlossrateduringtheentireexistenceandcalculatestheexpectedcreditlossbyreferencetothehistoricalcreditlossexperienceandinlightofthecurrentsituationandforecastfutureeconomicsituation.B.AccountsreceivableofdomesticcompaniesNumberRiskanalysisExpectedcreditlossrateFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd530B-1Lowrisk1.31%B-2Lowerrisk6.78%B-3Highrisk100.00%Incaseofbaddebtprovisionforaccountsreceivableaccruedbygeneralmodelofexpectedcreditloss,pleasediscloserelatedinformationaboutbaddebtprovisionbyreferencetothedisclosuremodeofotherreceivables.□Applicable√NotapplicableDisclosurebyageUnit:YuanAgeEndingbalanceLessthan1year(inclusive)1,327,147.32Wherein:lessthan6months487,000.007-12months840,147.321-2years799,247.60Total2,126,394.92(2)Baddebtprovisionaccrued,recoveredorreversedinthecurrentperiodBaddebtprovisionaccruedinthecurrentperiodUnit:YuanCategoryBeginningbalanceCurrentchangeEndingbalanceAccruedRecoveredorreversedChargedoffOthersBaddebtprovisionforaccountreceivables377,008.45631,624.341,008,632.79Total377,008.45631,624.341,008,632.79(3)Top5accountsreceivableintermsofendingbalancepooledbydebtorUnit:YuanNameofentityEndingbalanceofaccountsreceivablePercentageoftotalendingbalanceofaccountsreceivableEndingbalanceofbaddebtprovisionChenDeshan597,006.9228.08%40,477.07HeYuanlun588,000.0027.65%588,000.00SichuanShudaoyuanAgriculturalTechnologyCo.,Ltd487,000.0022.90%6,379.70LiXiaoguo149,582.007.03%68,970.01Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd531WangXianhuai118,046.005.55%118,046.00Total1,939,634.9291.21%(4)AccountsreceivablederecognizedduetotransferoffinancialassetsNoaccountsreceivablederecognizedduetotransferoffinancialassetswereincurredduringthisperiod.(5)AmountofassetsandliabilitiesresultingfromtransferofaccountsreceivableandcontinuedinvolvementNoassetsandliabilitiesresultingfromtransferofaccountsreceivableandcontinuedinvolvementwereincurredduringthisperiod.Otherremarks:2.OtherreceivablesUnit:YuanItemEndingbalanceBeginningbalanceInterestreceivable59,977,892.9473,397,114.11Dividendsreceivable361,817,393.82465,500,000.00Otherreceivables37,996,993,358.6223,082,780,267.73Total38,418,788,645.3823,621,677,381.84(1)Interestreceivable1)InterestreceivablebycategoryUnit:YuanItemEndingbalanceBeginningbalanceFixeddeposits25,323,361.1150,810,305.55Others34,654,531.8322,586,808.56Total59,977,892.9473,397,114.112)Baddebtprovisionaccrued□Applicable√Notapplicable(2)Dividendsreceivable1)DividendsreceivablebycategoryUnit:YuanFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd532Project(orinvestee)EndingbalanceBeginningbalanceHebeiNewHopeFeedCo.,Ltd3,664,670.94GuangxiNewHopeLiuheBreedingCo.,Ltd12,126,013.57YongzhouNewHopeLiuheFeedCo.,Ltd6,527,042.22SichuanXinlePlasticsCo.,Ltd604,692.47SichuanXinheImport&ExportCo.,Ltd14,247,881.24NewHopeLiuheInvestmentCo.,Ltd265,500,000.00265,500,000.00YunnanNewHopeLiuheBreedingCo.,Ltd33,026,631.17GuangyuanNewHopeLiuheFarmingTechnologyCo.,Ltd26,120,462.21SichuanNewHopeLiuheFarmingCo.,Ltd200,000,000.00Total361,817,393.82465,500,000.002)Importantdividendsreceivableagedover1yearUnit:YuanProject(orinvestee)EndingbalanceAgeReasonsfornon-recoveryWhetherimpairedornotanditsjudgmentbasisNewHopeLiuheInvestmentCo.,Ltd265,500,000.001-2NotyetpaidbytheoppositepartyNoTotal265,500,000.00------3)Baddebtprovisionaccrued□Applicable√NotapplicableOtherremarks:(3)Otherreceivables1)OtherreceivablescategorizedbynatureofamountUnit:YuanNatureofamountEndingbookbalanceBeginningbookbalanceReceivableswithinthescopeofconsolidatedstatements37,993,515,241.1123,078,624,768.41Pettycash1,803,637.512,885,976.43Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd533Marginsanddeposits602,270.56503,574.56Others4,209,013.443,608,505.90Total38,000,130,162.6223,085,622,825.302)BaddebtprovisionaccruedUnit:YuanBaddebtprovisionPhaseIPhaseIIPhaseIIITotalExpectedcreditlossinthenext12monthsExpectedcreditlossduringentireexistence(withoutcreditimpairment)Expectedcreditlossduringentireexistence(withcreditimpairment)BalanceasofJanuary1,20202,842,557.572,842,557.57BalanceasofJanuary1,2020inthecurrentperiod--------------------Currentlyaccrued294,246.43294,246.43BalanceasofTuesday,June30,20203,136,804.003,136,804.00Changesinbookbalancewithrespecttowhichcurrentchangesinthelossprovisionaresignificant□Applicable√NotapplicableDisclosurebyageUnit:YuanAgeEndingbalanceLessthan1year(inclusive)37,995,576,978.661-2years1,202,933.542-3years778,329.13Morethan3years2,571,921.293-4years438,281.154-5years0.00Morethan5years2,133,640.14Total38,000,130,162.623)Baddebtprovisionaccrued,recoveredorreversedinthecurrentperiodBaddebtprovisionaccruedinthecurrentperiodUnit:YuanCategoryBeginningbalanceCurrentchangeEndingbalanceFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd534AccruedRecoveredorreversedChargedoffOthersBaddebtprovisionforotherreceivables2,842,557.57294,246.433,136,804.00Total2,842,557.57294,246.433,136,804.00Note:thebaddebtprovisionaccruedinthecurrentperiodwas294,246.43Yuan.4)Top5otherreceivablesintermsofendingbalancepooledbydebtorUnit:YuanNameofentityNatureofamountEndingbalanceAgePercentageoftotalendingbalanceofotherreceivablesEndingbalanceofbaddebtprovisionTibetXinhaoTechnologyCo.,LtdInternalcurrentaccounts4,746,874,100.00Within1year12.49%GoldenOakInvestmentHoldings(Tianjin)Co.,LtdInternalcurrentaccounts1,524,640,500.00Within1year4.01%NewHopeLiuheFeedCo.,LtdInternalcurrentaccounts1,500,000,000.00Within1year3.95%TongliaoXinhaoFarmingCo.,LtdInternalcurrentaccounts1,218,700,015.00Within1year3.21%XinhaoFuchengAgriculturalTechnologyCo.,LtdInternalcurrentaccounts730,850,000.00Within1year1.92%Total--9,721,064,615.00--25.58%5)ReceivablesinvolvinggovernmentsubsidyUnit:YuanNameofentityNameofgovernmentsubsidyitemEndingbalanceEndingageEstimatedtime,amountandbasisofreceiptThecompanyhadnootherreceivablesinvolvinggovernmentsubsidy.6)OtherreceivablesderecognizedduetotransferoffinancialassetsThecompanydidnotincurotherreceivablesderecognizedduetotransferoffinancialassetsduringthisperiod.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd5357)AmountofassetsandliabilitiesresultingfromtransferofotherreceivableandcontinuedinvolvementNoamountsofassetsandliabilitiesresultingfromtransferofotherreceivableandcontinuedinvolvementwereincurredduringthisperiod.Otherremarks:3.Long-termequityinvestmentsUnit:YuanItemEndingbalanceBeginningbalanceBookbalanceImpairmentprovisionBookvalueBookbalanceImpairmentprovisionBookvalueInvestmentsinsubsidiaries11,496,365,092.1611,496,365,092.168,531,365,092.168,531,365,092.16Investmentsinaffiliatesandjointventures624,336,739.90624,336,739.90599,682,249.92599,682,249.92Total12,120,701,832.0612,120,701,832.069,131,047,342.089,131,047,342.08(1)InvestmentsinsubsidiariesUnit:YuanInvesteeBeginningbalance(bookvalue)CurrentincreaseordecreaseEndingbalance(bookvalue)EndingbalanceofimpairmentprovisionAdditionalinvestmentReducedinvestmentImpairmentprovisionaccruedOthersHainanNewHopeAgricultureCo.,Ltd10,784,799.1810,784,799.18MianyangNewHopeLiuheFarmingTechnologyCo.,Ltd20,000,000.0020,000,000.00GuanghanGuoxiongFeedCo.,Ltd12,074,682.4712,074,682.47KunmingNewHopeAgriculturalTechnologyCo.,Ltd9,966,510.039,966,510.03ZunyiJiahaoFeedCo.,Ltd6,995,416.816,995,416.81QujingGuoxiongFeedCo.,Ltd3,943,229.083,943,229.08BeijingNewHopeFarmingTechnologyCo.,Ltd7,500,000.007,500,000.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd536HebeiNewHopeFeedCo.,Ltd20,000,000.0020,000,000.00TaizhouNewHopeAgricultureCo.,Ltd10,000,000.0010,000,000.00LhasaNewHopeIndustrialCo.,Ltd22,000,000.0022,000,000.00MangshiNewHopeFarmingTechnologyCo.,Ltd10,000,000.0010,000,000.00KunmingNewHopeAnimalNutritiousFoodCo.,Ltd20,000,000.0020,000,000.00ErmeishanNewHopeLiuheFeedCo.,Ltd10,000,000.0010,000,000.00WulongNewHopeLiuheFeedCo.,Ltd10,000,000.0010,000,000.00BaojiNewHopeFarmingCo.,Ltd20,000,000.0020,000,000.00SanyuanNewHopeFeedCo.,Ltd20,000,000.0020,000,000.00WuzhouNewHopeLiuheFeedCo.,Ltd10,000,000.0010,000,000.00GuangxiNewHopeLiuheBreedingCo.,Ltd10,000,000.0010,000,000.00YongzhouNewHopeLiuheFeedCo.,Ltd15,000,000.0015,000,000.00YangjiangNewHopeLiuheFeedCo.,Ltd20,000,000.0020,000,000.000.00HuanggangNewHopeFeedTechnologyCo.,Ltd20,000,000.0020,000,000.00HuaihuaNewHopeLiuheFeedCo.,Ltd20,000,000.0020,000,000.00YingtanNewHopeFeedCo.,Ltd20,000,000.0020,000,000.00NingxiaNewHopeRuminantAnimalNutritiousFoodCo.,Ltd20,000,000.0020,000,000.00XiangyangNewHopeLiuheFeedCo.,Ltd20,000,000.0020,000,000.00ZunyiNewHopeLiuheAgriculturalTechnologyCo.,Ltd10,000,000.0010,000,000.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd537GuangzhouLiuheFeedCo.,Ltd48,800,000.0048,800,000.00SichuanXinlePlasticsCo.,Ltd4,023,039.624,023,039.62JiangsuTianchengHealthcareProductsCo.,Ltd40,800,000.0040,800,000.00SichuanXinheImport&ExportCo.,Ltd14,090,807.9014,090,807.90NewHopeLiuheInvestmentCo.,Ltd503,191,958.85503,191,958.85SichuanNewHopeLiuheTechnologicalInnovationCo.,Ltd1,000,000.005,000,000.006,000,000.00NewHopeLiuheFoodHoldingsCo.,Ltd100,000,000.00100,000,000.00HebeiNewHopeFarmingCo.,Ltd100,000,000.00100,000,000.00YunnanNewHopeLiuheBreedingCo.,Ltd2,000,000.002,000,000.00TibetLinzhiNewHopeLiuheBreedingCo.,Ltd12,081,000.0012,081,000.00SantaiNewHopeFarmingFinancingGuaranteeCo.,Ltd30,000,000.0030,000,000.00ChengduFenglanTechnologyCo.,Ltd50,713,650.0050,713,650.00GuangyuanNewHopeLiuheFarmingTechnologyCo.,Ltd3,000,000.003,000,000.00BeijingXindaoluAgriculturalTechnologyCo.,Ltd20,000,000.0020,000,000.00TianjinDingchengZhiziInvestmentCo.,Ltd100,000,000.00100,000,000.00GoldenOakInvestmentHoldings(Tianjin)Co.,Ltd100,000,000.00100,000,000.00LiuheInvestment(US)Inc.162,983,250.00162,983,250.00YanglingBesunAgriculturalIndustryGroupCo.,Ltd605,966,110.75605,966,110.75ChongqingTongliangNewHopeLiuheFarmingTechnologyCo.,Ltd3,000,000.003,000,000.00QingdaoXinhangEngineering50,000,000.0050,000,000.00Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd538ManagementCo.,LtdQingdaoFeidakeFoodTechnologyCo.,Ltd2,100,000.002,100,000.00TibetXinhaoTechnologyCo.,Ltd502,678,173.17502,678,173.17NewHopeSingaporePte.Ltd584,575,402.80584,575,402.80NewHopeInternationalHoldings(Pte)Ltd94,167,694.5094,167,694.50SichuanNewHopeLiuheFarmingCo.,Ltd1,052,335,894.981,052,335,894.98ShandongNewHopeLiuheGroupCo.,Ltd3,483,295,809.072,480,000,000.005,963,295,809.07NewHopeLiuheFeedCo.,Ltd481,111,323.70481,111,323.70ShanghaiShiheCommerceCo.,Ltd1,186,339.251,186,339.25SichuanNewHopeAnimalNutritionTechnologyCo.,Ltd500,000,000.00500,000,000.00Total8,531,365,092.162,985,000,000.0020,000,000.0011,496,365,092.16(2)InvestmentsinaffiliatesandjointventuresUnit:YuanInvestorentityBeginningbalance(bookvalue)CurrentincreaseordecreaseEndingbalance(bookvalue)EndingbalanceofimpairmentprovisionAdditionalinvestmentReducedinvestmentProfitorlossoninvestmentrecognizedunderequitymethodAdjustmentforothercomprehensiveincomeOtherequitychangesCashdividendsorprofitsdeclaredfordistributionImpairmentprovisionaccruedOthersI.JointventuresBeijingMeihaoMeidelingFoodCo.,Ltd71,700,433.94-3,716,174.7067,984,259.24Subtotal71,700,433.94-3,716,174.7067,984,259.24II.AffiliatedenterprisesNewHopeFinanceCo.,Ltd527,981,815.9828,370,664.68556,352,480.66Subtotal527,981,815.9828,370,664.68556,352,480.66Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd539Total599,682,249.9224,654,489.98624,336,739.904.BusinessrevenueandoperatingcostsUnit:YuanItemCurrentamountincurredPrior-periodamountincurredRevenueCostRevenueCostMainbusiness262,072,897.47243,602,697.49325,728,568.64303,247,851.06Otherbusinesses22,413,081.365,552,917.865,202,550.92Total284,485,978.83249,155,615.35330,931,119.56303,247,851.06Revenue-relatedinformation:Informationrelatedtoperformanceobligations:NoneInformationrelatedtotransactionpricesallocatedtoremainingperformanceobligations:Theamountofrevenuecorrespondingtoperformanceobligationsalreadycontractedbutnotyetperformedorcompletedattheendofthisreportingperiodis19,011,644.80Yuan,ofwhich19,011,644.80Yuanisexpectedtoberecognizedin2020.5.InvestmentincomeUnit:YuanItemCurrentamountincurredPrior-periodamountincurredIncomeonlong-termequityinvestmentsaccountedforunderthecostmethod158,279,032.0867,392,906.15Incomeonlong-termequityinvestmentsaccountedforundertheequitymethod24,654,489.9828,361,270.75Investmentincomefromdisposaloflong-termequityinvestments-355,783.35-11,953,219.83Total182,577,738.7183,800,957.07XVIII.Additionalinformation1.Detailedstatementofcurrentnon-recurringprofitsandlosses√Applicable□NotapplicableUnit:YuanItemAmountRemarksProfitandlossondisposalofnoncurrentassets-94,912,833.48Incomefromdisposalbythecompanyoffixedassets,productivebiologicalassets,long-termequityFulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd540investmentsandintangibleassetsGovernmentsubsidieschargedtocurrentprofitandloss(exceptforgovernmentsubsidiescloselyrelatedtothebusinessoperationsandgrantedaccordingtothenationalunifiedstandardquotaorration)66,064,040.01Incomefromgovernmentsubsidies.Profitandlossonchangesinfairvalueresultingfromholdingofheld-for-tradingfinancialassetsandfinancialliabilities,derivativefinancialassetsandderivativefinancialliabilitiesandinvestmentincomefromdisposalofheld-for-tradingfinancialassetsandliabilitiesandderivativefinancialassetsandliabilities,exceptforvalidhedgingtransactionsrelatedtonormalbusinessoperationsofthecompany-11,235,230.20Incomeacquiredbythecompanyfrompurchaseofheld-for-tradingfinancialassetsReversalofimpairmentprovisionforreceivablesandcontractassetssubjectedtoseparateimpairmenttest10,254,139.72Othernon-businessrevenueandexpenditureotherthantheaforesaiditems.-81,088,155.96Mainlyconsistingofexpenditureonnormaldeathandeliminationoflivestockandpoultry.Otherprofitandlossitemsthatconformtothedefinitionofnonrecurringprofitandloss0.00Minus:effectofincometax4,205,865.93Effectofminorityinterest4,687,498.70Total-119,811,404.54--Fornon-recurringprofitandlossitemsdefinedbythecompanyaccordingtothe“ExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingtheirSecuritiestothePublic–Non-recurringProfitandLoss”,andfordefiningthenon-recurringprofitandlossitemsenumeratedin“ExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingtheirSecuritiestothePublic–Non-recurringProfitandLoss”asrecurringprofitandlossitems,thereasonsshallbeexplained.□Applicable√Notapplicable2.ReturnonequityandpershareearningsProfitsduringthereportingperiodWeightedaverageROEPershareearningsBasicearningspershare(Yuan/share)Dilutedearningspershare(Yuan/share)Netprofitsattributabletoordinaryshareholdersofthecompany11.16%0.760.75Netprofitsattributabletoordinarysharesshareholdersofthecompanyafterdeductionofnon-recurringprofitandloss11.56%0.790.77Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd5413.AccountingdatadifferenceunderChineseandforeignaccountingstandards(1)DifferenceinnetprofitsandnetassetsinfinancialreportsdisclosedunderbothinternationalaccountingstandardsandChineseaccountingstandards□Applicable√Notapplicable(2)DifferenceinnetprofitsandnetassetsinfinancialreportsdisclosedunderbothoverseasaccountingstandardsandChineseaccountingstandards□Applicable√Notapplicable(3)Indicatethereasonsforaccountingdatadifferenceunderdomesticandoverseasaccountingstandards,andwheredifferenceadjustmentshavebeenmadetothedataauditedbyanoverseasauditagency,indicatethenamesofsuchoverseasagency.Fulltextof2020semiannualreportofNewHopeLiuheCo.,Ltd542Section12Directoryofdocumentsforreference(1)Financialstatementsbearingthesignaturesofchiefexecutiveofficer,personinchargeofaccountingandheadofaccountingorganization(chiefaccountant)ofthecompanyaswellasstamps(2)OriginalsofallcorporatedocumentsandannouncementsdisclosedbythecompanypubliclyonChinaSecuritiesJournal,SecuritiesDailyandCNINFOwebsiteduringthereportingperiod.NewHopeLiuheCo.,LtdLegalrepresentative:LiuChangAugust31,2020

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